Tom Maher’s side recently completed a round of Test matches, winning six from 12 including creditable victories over France, Czech Republic and Canada, all of whom have qualified for the Games.
They head into the 'Standard Life Game On 2012' tournament in Sheffield next week full of confidence, which Maher puts down to a more professional approach and the rapid development of his young squad.
"I think that we are a very good team now, and one that hopefully can get some wins," Maher told Eurosport. "Two years ago I would have said I’d be happy with one victory at the Games, but now I think we have a team that can win a few games.
"Looking at the top-ranked sides it would be a monumental challenge to beat them, but if we perform as well as we can, we will have a chance of progressing."
Maher is one of the most renowned coaches in women’s basketball, having led his homeland Australia to bronze and silver medals in 1996 and 2000, not to mention seven Women’s Basketball League titles.
He has also coached the Chinese and New Zealand national teams, and has used his extensive experience to mould Britain into genuine contenders.
Part of this involved restructuring the coaching and conditioning programmes, with the national team now reaping the rewards.
"A couple of years back we were at a low level, and we have come on leaps and bounds.
"A lot of that has to do with the preparation – the programme we have is excellent as it mixes coaching with games.
"A big difference from a few years ago is that they didn’t look like Olympic athletes – but we have helped them know their bodies, understand what they have to do to become top-class athletes, and they have taken that on board."
Maher also suggested that the improved environment when his players are not with Team GB has had a positive impact on their development. Several ply their trade in Australia and in the US college system, some are at UWIC in Cardiff, while others feature in the Greek and Polish professional leagues.
"They have to go where they can play," he admitted.
"While it’s hard to say if playing abroad has improved the team as such, the fact that they are doing the right things when they’re not with us helps a lot."
Maher was reluctant to single out specific players as being potential stars of the Games, but he is prepared to tip youngster Temi Fagbenle as one with a bright future in basketball.
The 19-year-old Londoner has risen through England and Great Britain’s age-group ranks and was voted U18 player of the year in 2010. She is currently at Harvard University, having received several awards while completing her education in New Jersey.
"I think Temi has the potential to achieve anything she wants in the game," Maher added.
“I think she will blossom in this environment, and rise to the challenge very well."
Tom Maher was speaking at the University of Surrey-owned Surrey Sports Park, one of Europe's leading events and training venues. www.surreysportspark.co.uk