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1、Unit Four Executive Caliber,Lead-in,Lead-in Discussion,1. What kind of leaders do you want to have in your future career? Read the next several slides for some clues.,Lead-in Discussion,Lead-in Discussion,Lead-in Discussion,Lead-in Discussion,Lead-in Discussion,Lead-in Discussion,Lead-in Discussion,
2、Lead-in Discussion,2. The following figures are CEOs or ex-CEOs in different corporations; can you tell their stories? What qualities contributed to their success?,Lead-in Discussion,Text A A Memo to CEOs,Structural Analysis,Part I Questions about Part I,Q1. Whats the main idea of Part I (Para. 1-4)
3、? Selfishness contributed to the crisis of business as well as that of capitalism.,Q2. The authors mention “a crisis” at the beginning of the text. What accounts for the occurrence of the crisis? All of us who believe in business are all captives of five half-truths that shape the way we think about
4、 business and the way we do business. As a result, we may destroy the very thing we cherish.,Part I Questions about Part I,Q3. What does “the very thing we cherish” refer to? “The very thing we cherish” refers to our deeply rooted core values.,Part I Questions about Part I,Q4. Whats the definition o
5、f “half-truth”? Half-truth is a statement, especially one intended to deceive, that omits some of the facts necessary for a full description or account.,Part I Questions about Part I,Scandal and recession have cast a pall on the way CEOs go about leading their companies. Three distinguished professo
6、rs send this memo Five Half-truths of Business as a wake-up call. (Line 1, Introduction) Scandal and economic decline have produced negative influences on the way how CEOs lead their companies. Three celebrated professors send this memo about five half-truths of business to give warnings and suggest
7、ions to CEOs.,Part I Sentence Interpretation,recession (Introduction) n. an extended decline in general business activity synonyms: depression, decline example: In spite of the recession, private car sales are 5 per cent up.,Part I Words and Expressions,catastrophe (para. 2) n. a great, often sudden
8、 calamity synonyms: calamity, disaster example: For each man who loses his job unemployment is a personal catastrophe.,Part I Words and Expressions,distress (para. 3) n. anxiety or mental suffering synonyms: agony, anguish example: He was in an extreme state of distress due to the termination of his
9、 employment.,Part I Words and Expressions,CEO A chief executive officer (CEO) is the highest-ranking corporate officer (executive) or administrator in charge of total management of an organization. An individual appointed as a CEO of a corporation typically reports to the board of directors. The CEO
10、 presides over the executive committee.,Part I Notes,Q1. Whats the main idea of Part II (Para. 5-Para. 33)? Five half-truths shape the way we think about business and the way we do business.,Part II Questions about Part II,Q2. Please illustrate the structure of the second part which can be further d
11、ivided into five sections.,Part II Questions about Part II,Q3. Whats the main idea of Section I (Para. 5-Para. 9)? The first half-truth is that were only in it for ourselves.,Part II Questions about Part II,Q4. The authors mentioned “financiers who walk away from unethical deals (Para. 7)”; take int
12、ernational construction as an illustration, can you give any examples of unethical deals? Bid shopping, procurement of substandard/defective materials, bribery, and employment of illegal workers are the most prevalent ethics issues in international construction.,Part II Questions about Part II,Busin
13、ess simply wont work if each of us is only in it for ourselves. While we need to have individual initiative, we survive in a context of social engagement. (Line 4, Para. 9) If we only pursue personal interests, business just wont work. Although individual ambition is necessary, social interaction is
14、 something that we cannot live without.,Part II Sentence Interpretation,maximize (para. 5) v. to increase or make as great as possible antonym: minimize example: Setting off twin bombs is a classic guerrilla tactic which seeks to maximize casualties.,Part II Words and Expressions,integrity (para. 6)
15、 n. steadfast adherence to a strict moral or ethical code synonyms: honesty, sincerity example: The action is a sign of how personal integrity is now seen as crucial as the financial sector seeks to restore its reputation.,Part II Words and Expressions,Part II Questions about Part II,Q5: Whats the m
16、ain idea of Section II (Para. 10- Para.16)? The second half-truth is that corporations exist to maximize shareholder value.,Part II Questions about Part II,Q6: In Para. 13, the authors mention “shareholder”, “stockholder” and “stakeholder”; whats the difference among them? A shareholder or stockhold
17、er is anyone who owns shares of a given corporation or mutual fund. Stockholders can be individuals or institutions, with the only requirement being ownership of at least one share. Collectively, the shareholders provide a significant portion of the capital of the organization.,Part II Questions abo
18、ut Part II,Q6: In Para. 13, the authors mention “shareholder”, “stockholder” and “stakeholder”; whats the difference among them? Anyone who is affected by the operations of the organization can be defined as a stakeholder. This includes both internal stakeholders, such as employees and managers, and
19、 external stakeholders, such as shareholders, suppliers, customers, providers, creditors, debtors, the government and surrounding communities. All shareholders are stakeholders, but not all stakeholders are shareholders.,Part II Questions about Part II,Q7: Can you find several examples of “stakehold
20、er” in Para. 12? Other constituencies (customers, employees, communities, suppliers, and society at large).,Part II Questions about Part II,Q8: What changes did the principles of the Business Roundtable undergo from 1981 to 1997? In 1981, the Business Roundtable asserted that the shareholder must re
21、ceive a good return but the legitimate concerns of other stakeholders also must have the appropriate attention. However, in 1997, the Business Roundtable announced that the CEOs only real responsibility is to serve the interests of the shareholders.,Whats remarkable about the current worship at the
22、altar of shareholder value is that its a reversal of our prior beliefs and behaviors. (Line 1, Para. 11) Its a striking departure from our past ideas and behaviors to focus on shareholder value excessively, which is something worthy of notice.,Part II Sentence Interpretation,Maximizing shareholder v
23、alue at the expense of all of the other stakeholders is bad for business and bad for capitalism. It drives a wedge between those who create the economic value the employees and those who harvest its benefits. (Line 4, Para. 16) It is detrimental to business as well as capitalism to sacrifice the int
24、erests of stakeholders yet to get maximum value for shareholders. It brings about friction between the employees, the economic value creator and those who reap where they have not sown.,Part II Sentence Interpretation,reprimand (Para. 10) v. to tell someone officially and in a serious way that somet
25、hing they have done is very wrong synonyms: reprove, admonish example: U.S. lawmakers reprimanded Japanese supplier Takata Corp for limited air bag recalls.,Part II Words and Expressions,predecessor (Para. 12) n. one who precedes another in time, especially in holding an office or a position synonym
26、: forerunner example: Guantanamo was opened by Obamas predecessor, George W. Bush, after the Sept. 11, 2001, attacks on the United States, to house militant suspects rounded up overseas.,Part II Words and Expressions,misconstrue (Para. 13) v. to misunderstand something that someone has said or done
27、synonyms: misinterpret, misunderstand example: Those eager to find evidence against Obamacare were quick to round out the numbers, misconstrue the facts and jump to the wrong conclusions.,Part II Words and Expressions,criterion (Para. 13) n. a standard, rule, or test on which a judgment or decision
28、can be based synonym: standard example: It is probably clear to the lawmakers that none of the funds that currently operate satisfy this criterion.,Part II Words and Expressions,mirror (Para. 15) v. to reflect in or as if in a mirror synonym: reflect example: Mexican growth is trending at over 3 per
29、cent, mirroring a pickup in the United States, where Mexico sends more than three quarters of its exports.,Part II Words and Expressions,pledge (Para. 15) v. to offer or guarantee by a solemn binding promise synonyms: promise, swear example: Japans government will pledge to do its utmost to meet its
30、 target of halving the countrys primary balance deficit in the next fiscal year.,Part II Words and Expressions,Business Roundtable Business Roundtable (BRT) is an association of chief executive officers of leading U.S. companies working to promote sound public policy and a thriving U.S. economy.,Par
31、t II Notes,Q9: Whats the main idea of Section III (Para. 17- Para. 22)? The third half-truth is that companies need CEOs who are heroic leaders.,Part II Questions about Part II,As CEOs, your job is to set an example of energizing others, not to take dramatic actions that let you take the lions share
32、 of the spoils. (Line 8, Para. 21) Your job of being CEOs is to motivate others rather than usurping the biggest portion of the trophies.,Part II Sentence Interpretation,Perhaps the real reason that we are so obsessed with leadership today is that we see so little of it from CEOs. (Line 7, Para. 22)
33、 The fact that we can barely find much leadership from CEOs may answer the question why we long for it so strongly today.,Part II Sentence Interpretation,embodiment (Para. 20) n. someone or something that represents or is very typical of an idea or quality synonym: representation example: Advanced w
34、eaponry is the embodiment of a modern army and a crucial support for national security and rejuvenation.,Part II Words and Expressions,validate (Para. 20) v. to mark with an indication of official sanction synonym: ratify example: In order to validate the agreement, both parties sign it.,Part II Wor
35、ds and Expressions,corrosive (Para. 21) a. gradually destructive; steadily harmful synonym: corrupt example: The president announced fresh plans to cleanse the system of corrosive corruption.,Part II Words and Expressions,stock option A right to buy or sell specific securities or commodities at a st
36、ated price within a specified time.,Part II Notes,Louis Gerstner Louis Vincent Gerstner, Jr. (born March 1, 1942 in Mineola, New York) was chairman of the board and chief executive officer of IBM from April 1993 until 2002 when he retired as CEO in March and chairman in December. He is largely credi
37、ted with turning around IBMs fortunes.,Part II Notes,Q10. Whats the main idea of Section IV (Para. 23-Para. 27)? The fourth half-truth is that companies need to be lean and mean.,Part II Questions about Part II,Q11. What does “lean and mean” mean? Can you find any reference from Para. 23 and Para. 2
38、4? “Lean and mean” is an American idiom that means fit (lean) and efficient (mean). In this text, it means the “slash-and-burn tactics” of “firing large numbers of people”.,Part II Questions about Part II,alienate (Para. 26) v. to cause to become unfriendly or hostile synonym: estrange example: Gree
39、k Prime Minister Samarass tactic of making a bet to save his government and career, while not alienating euro zone colleagues, reflects Greeces still precarious position within the currency bloc.,Part II Words and Expressions,Q12. Whats the main idea of Section V (Para. 28-Para. 33)? The fifth half-
40、truth is that a rising tide lifts all boats.,Part II Questions about Part II,Q13. Both Para. 1 and Para. 33 starts with the same sentence “Business is at a crossroads”; what writing technique is in use here? The repetition of the same sentence at the beginning and the ending is to achieve coherence
41、in writing.,Part II Questions about Part II,And wed all rather see the economy flowing rather than ebbing. (Line 1, Para. 29) And we all prefer the prosperity of economy rather than its recession.,Part II Sentence Interpretation,rationalize (Para. 28) v. to make rational synonym: justify example: Th
42、e government raised retail prices for petrol and diesel by about 10 percent as part of a plan to rationalize energy subsidies.,Part II Words and Expressions,Text B The CEOs Role in Business Model Reinvention,Structural Analysis,The structure of the text goes as follow: Part I (Para. 1-12): Business
43、model with the forces of preservation, destruction, and creation. Part II (Para. 13-32): A specific case of business model transformation.,Part I: For companies to endure, they must get the forces of preservation, destruction, and creation in the right balance, which can be shown in business model reinvention.,Para. 1-12,Part II： A specific case of business model transformation at Infosys Technologies Limited of India.,Para. 13-32,