In addition to the great answers above I would like to add BALANCE. The balance of a team is vital for managers to maximise best performance. Balance strenght and weakness and ensure that the team is happy to support each other.
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Hazem Salama , Senior Member of Technical Staff , Verizon Communications
Trust - team members need to trust each other
Common goal - team member need to have a common goal that they can rally behind
Natural authority - managers know what they can do best and recognize what their team members can do best and each respects each other's "natural authority"
Sense of satisfaction - team needs to feel proud of they produce, if they are forced to produce stuff they are not proud of, their morale will be way down