Shared purpose and performance objectives are essential for?

Having shared purpose and performance objectives is vital for encouraging team cohesiveness. When team members have a common goal and a clear understanding of what they're working towards, it fosters collaboration and unity among them. This shared vision aligns their efforts and enhances their ability to work together effectively. Team cohesiveness is important because it leads to better communication, increases trust among members, and can result in improved performance and productivity.

In contrast, creating competition within team members can lead to divisiveness and undermine collaboration, making it counterproductive to the team's overall goals. Focusing solely on financial outcomes overlooks the broader aspects of team dynamics and can create an environment where members are more focused on personal gains rather than collective success. Lastly, individual assessments of performance may differentiate team members based on personal achievements, which could detract from the sense of unity and common purpose that shared objectives aim to build.