Leaders who strive to understand the dynamics of a team have a greater chance of achieving team success. In today$’$s work environment, organizations are operating in the global market, resulting in a diverse and multicultural workforce. Managers have an added role of leading and developing diverse and multicultural teams and strategies to create an environment of understanding and respect necessary for the overall operation of the team.$$ 

You are part of a multinational organization that recently formed a new team comprising members from different cultural backgrounds. The team is responsible for developing a new product and delivering it to the market within a tight deadline. The product the team is developing is intended for a multinational market, making it crucial for the team to consider and incorporate cultural sensitivities and preferences to ensure its successful launch and acceptance worldwide. However, the team is facing challenges in terms of team development and behavior, as well as managing diversity effectively.$$

Based on the above scenario, answer the following questions.$$

According to you, how can team development stages, such as forming, storming, norming, and performing, help in understanding and addressing the challenges faced by the newly formed multicultural team?$$

Discuss the potential benefits and challenges of having a multicultural team in the context of the scenario. Justify your answer with relevant examples.$$