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.,UnitFourExecutiveCaliber,.,Lead-in,.,Lead-inDiscussion,1.Whatkindofleadersdoyouwanttohaveinyourfuturecareer?Readthenextseveralslidesforsomeclues.,.,Lead-inDiscussion,.,Lead-inDiscussion,.,Lead-inDiscussion,.,Lead-inDiscussion,.,Lead-inDiscussion,.,Lead-inDiscussion,.,Lead-inDiscussion,.,Lead-inDiscussion,.,2.ThefollowingfiguresareCEOsorex-CEOsindifferentcorporations;canyoutelltheirstories?Whatqualitiescontributedtotheirsuccess?,Lead-inDiscussion,.,TextAAMemotoCEOs,.,StructuralAnalysis,.,PartIQuestionsaboutPartI,Q1.WhatsthemainideaofPartI(Para.1-4)?Selfishnesscontributedtothecrisisofbusinessaswellasthatofcapitalism.,.,Q2.Theauthorsmention“acrisis”atthebeginningofthetext.Whataccountsfortheoccurrenceofthecrisis?Allofuswhobelieveinbusinessareallcaptivesoffivehalf-truthsthatshapethewaywethinkaboutbusinessandthewaywedobusiness.Asaresult,wemaydestroytheverythingwecherish.,PartIQuestionsaboutPartI,.,Q3.Whatdoes“theverythingwecherish”referto?“Theverythingwecherish”referstoourdeeplyrootedcorevalues.,PartIQuestionsaboutPartI,.,Q4.Whatsthedefinitionof“half-truth”?Half-truthisastatement,especiallyoneintendedtodeceive,thatomitssomeofthefactsnecessaryforafulldescriptionoraccount.,PartIQuestionsaboutPartI,.,ScandalandrecessionhavecastapallonthewayCEOsgoaboutleadingtheircompanies.ThreedistinguishedprofessorssendthismemoFiveHalf-truthsofBusinessasawake-upcall.(Line1,Introduction)ScandalandeconomicdeclinehaveproducednegativeinfluencesonthewayhowCEOsleadtheircompanies.Threecelebratedprofessorssendthismemoaboutfivehalf-truthsofbusinesstogivewarningsandsuggestionstoCEOs.,PartISentenceInterpretation,.,recession(Introduction)n.anextendeddeclineingeneralbusinessactivitysynonyms:depression,declineexample:Inspiteoftherecession,privatecarsalesare5percentup.,PartIWordsandExpressions,.,catastrophe(para.2)n.agreat,oftensuddencalamitysynonyms:calamity,disasterexample:Foreachmanwholoseshisjobunemploymentisapersonalcatastrophe.,PartIWordsandExpressions,.,distress(para.3)n.anxietyormentalsufferingsynonyms:agony,anguishexample:Hewasinanextremestateofdistressduetotheterminationofhisemployment.,PartIWordsandExpressions,.,CEOAchiefexecutiveofficer(CEO)isthehighest-rankingcorporateofficer(executive)oradministratorinchargeoftotalmanagementofanorganization.AnindividualappointedasaCEOofacorporationtypicallyreportstotheboardofdirectors.TheCEOpresidesovertheexecutivecommittee.,PartINotes,.,Q1.WhatsthemainideaofPartII(Para.5-Para.33)?Fivehalf-truthsshapethewaywethinkaboutbusinessandthewaywedobusiness.,PartIIQuestionsaboutPartII,.,Q2.Pleaseillustratethestructureofthesecondpartwhichcanbefurtherdividedintofivesections.,PartIIQuestionsaboutPartII,.,Q3.WhatsthemainideaofSectionI(Para.5-Para.9)?Thefirsthalf-truthisthatwereonlyinitforourselves.,PartIIQuestionsaboutPartII,.,Q4.Theauthorsmentioned“financierswhowalkawayfromunethicaldeals(Para.7)”;takeinternationalconstructionasanillustration,canyougiveanyexamplesofunethicaldeals?Bidshopping,procurementofsubstandard/defectivematerials,bribery,andemploymentofillegalworkersarethemostprevalentethicsissuesininternationalconstruction.,PartIIQuestionsaboutPartII,.,Businesssimplywontworkifeachofusisonlyinitforourselves.Whileweneedtohaveindividualinitiative,wesurviveinacontextofsocialengagement.(Line4,Para.9)Ifweonlypursuepersonalinterests,businessjustwontwork.Althoughindividualambitionisnecessary,socialinteractionissomethingthatwecannotlivewithout.,PartIISentenceInterpretation,.,maximize(para.5)v.toincreaseormakeasgreataspossibleantonym:minimizeexample:Settingofftwinbombsisaclassicguerrillatacticwhichseekstomaximizecasualties.,PartIIWordsandExpressions,.,integrity(para.6)n.steadfastadherencetoastrictmoralorethicalcodesynonyms:honesty,sincerityexample:Theactionisasignofhowpersonalintegrityisnowseenascrucialasthefinancialsectorseekstorestoreitsreputation.,PartIIWordsandExpressions,.,PartIIQuestionsaboutPartII,Q5:WhatsthemainideaofSectionII(Para.10-Para.16)?Thesecondhalf-truthisthatcorporationsexisttomaximizeshareholdervalue.,.,PartIIQuestionsaboutPartII,Q6:InPara.13,theauthorsmention“shareholder”,“stockholder”and“stakeholder”;whatsthedifferenceamongthem?Ashareholderorstockholderisanyonewhoownssharesofagivencorporationormutualfund.Stockholderscanbeindividualsorinstitutions,withtheonlyrequirementbeingownershipofatleastoneshare.Collectively,theshareholdersprovideasignificantportionofthecapitaloftheorganization.,.,PartIIQuestionsaboutPartII,Q6:InPara.13,theauthorsmention“shareholder”,“stockholder”and“stakeholder”;whatsthedifferenceamongthem?Anyonewhoisaffectedbytheoperationsoftheorganizationcanbedefinedasastakeholder.Thisincludesbothinternalstakeholders,suchasemployeesandmanagers,andexternalstakeholders,suchasshareholders,suppliers,customers,providers,creditors,debtors,thegovernmentandsurroundingcommunities.Allshareholdersarestakeholders,butnotallstakeholdersareshareholders.,.,PartIIQuestionsaboutPartII,Q7:Canyoufindseveralexamplesof“stakeholder”inPara.12?Otherconstituencies(customers,employees,communities,suppliers,andsocietyatlarge).,.,PartIIQuestionsaboutPartII,Q8:WhatchangesdidtheprinciplesoftheBusinessRoundtableundergofrom1981to1997?In1981,theBusinessRoundtableassertedthattheshareholdermustreceiveagoodreturnbutthelegitimateconcernsofotherstakeholdersalsomusthavetheappropriateattention.However,in1997,theBusinessRoundtableannouncedthattheCEOsonlyrealresponsibilityistoservetheinterestsoftheshareholders.,.,Whatsremarkableaboutthecurrentworshipatthealtarofshareholdervalueisthatitsareversalofourpriorbeliefsandbehaviors.(Line1,Para.11)Itsastrikingdeparturefromourpastideasandbehaviorstofocusonshareholdervalueexcessively,whichissomethingworthyofnotice.,PartIISentenceInterpretation,.,Maximizingshareholdervalueattheexpenseofalloftheotherstakeholdersisbadforbusinessandbadforcapitalism.Itdrivesawedgebetweenthosewhocreatetheeconomicvaluetheemployeesandthosewhoharvestitsbenefits.(Line4,Para.16)Itisdetrimentaltobusinessaswellascapitalismtosacrificetheinterestsofstakeholdersyettogetmaximumvalueforshareholders.Itbringsaboutfrictionbetweentheemployees,theeconomicvaluecreatorandthosewhoreapwheretheyhavenotsown.,PartIISentenceInterpretation,.,reprimand(Para.10)v.totellsomeoneofficiallyandinaseriouswaythatsomethingtheyhavedoneisverywrongsynonyms:reprove,admonishexample:U.S.lawmakersreprimandedJapanesesupplierTakataCorpforlimitedairbagrecalls.,PartIIWordsandExpressions,.,predecessor(Para.12)n.onewhoprecedesanotherintime,especiallyinholdinganofficeorapositionsynonym:forerunnerexample:GuantanamowasopenedbyObamaspredecessor,GeorgeW.Bush,aftertheSept.11,2001,attacksontheUnitedStates,tohousemilitantsuspectsroundedupoverseas.,PartIIWordsandExpressions,.,misconstrue(Para.13)v.tomisunderstandsomethingthatsomeonehassaidordonesynonyms:misinterpret,misunderstandexample:ThoseeagertofindevidenceagainstObamacarewerequicktoroundoutthenumbers,misconstruethefactsandjumptothewrongconclusions.,PartIIWordsandExpressions,.,criterion(Para.13)n.astandard,rule,ortestonwhichajudgmentordecisioncanbebasedsynonym:standardexample:Itisprobablycleartothelawmakersthatnoneofthefundsthatcurrentlyoperatesatisfythiscriterion.,PartIIWordsandExpressions,.,mirror(Para.15)v.toreflectinorasifinamirrorsynonym:reflectexample:Mexicangrowthistrendingatover3percent,mirroringapickupintheUnitedStates,whereMexicosendsmorethanthreequartersofitsexports.,PartIIWordsandExpressions,.,pledge(Para.15)v.toofferorguaranteebyasolemnbindingpromisesynonyms:promise,swearexample:Japansgovernmentwillpledgetodoitsutmosttomeetitstargetofhalvingthecountrysprimarybalancedeficitinthenextfiscalyear.,PartIIWordsandExpressions,.,BusinessRoundtableBusinessRoundtable(BRT)isanassociationofchiefexecutiveofficersofleadingU.S.companiesworkingtopromotesoundpublicpolicyandathrivingU.S.economy.,PartIINotes,.,Q9:WhatsthemainideaofSectionIII(Para.17-Para.22)?Thethirdhalf-truthisthatcompaniesneedCEOswhoareheroicleaders.,PartIIQuestionsaboutPartII,.,AsCEOs,yourjobistosetanexampleofenergizingothers,nottotakedramaticactionsthatletyoutakethelionsshareofthespoils.(Line8,Para.21)YourjobofbeingCEOsistomotivateothersratherthanusurpingthebiggestportionofthetrophies.,PartIISentenceInterpretation,.,PerhapstherealreasonthatwearesoobsessedwithleadershiptodayisthatweseesolittleofitfromCEOs.(Line7,Para.22)ThefactthatwecanbarelyfindmuchleadershipfromCEOsmayanswerthequestionwhywelongforitsostronglytoday.,PartIISentenceInterpretation,.,embodiment(Para.20)n.someoneorsomethingthatrepresentsorisverytypicalofanideaorqualitysynonym:representationexample:Advancedweaponryistheembodimentofamodernarmyandacrucialsupportfornationalsecurityandrejuvenation.,PartIIWordsandExpressions,.,validate(Para.20)v.tomarkwithanindicationofofficialsanctionsynonym:ratifyexample:Inordertovalidatetheagreement,bothpartiessignit.,PartIIWordsandExpressions,.,corrosive(Para.21)a.graduallydestructive;steadilyharmfulsynonym:corruptexample:Thepresidentannouncedfreshplanstocleansethesystemofcorrosivecorruption.,PartIIWordsandExpressions,.,stockoptionArighttobuyorsellspecificsecuritiesorcommoditiesatastatedpricewithinaspecifiedtime.,PartIINotes,.,LouisGerstnerLouisVincentGerstner,Jr.(bornMarch1,1942inMineola,NewYork)waschairmanoftheboardandchiefexecutiveofficerofIBMfromApril1993until2002whenheretiredasCEOinMarchandchairmaninDecember.HeislargelycreditedwithturningaroundIBMsfortunes.,PartIINotes,.,Q10.WhatsthemainideaofSectionIV(Para.23-Para.27)?Thefourthhalf-truthisthatcompaniesneedtobeleanandmean.,PartIIQuestionsaboutPartII,.,Q11.Whatdoes“leanandmean”mean?CanyoufindanyreferencefromPara.23andPara.24?“Leanandmean”isanAmericanidiomthatmeansfit(lean)andefficient(mean).Inthistext,itmeansthe“slash-and-burntactics”of“firinglargenumbersofpeople”.,PartIIQuestionsaboutPartII,.,alienate(Para.26)v.tocausetobecomeunfriendlyorhostilesynonym:estrangeexample:GreekPrimeMinisterSamarasstacticofmakingabettosavehisgovernmentandcareer,whilenotalienatingeurozonecolleagues,reflectsGreecesstillprecariouspositionwithinthecurrencybloc.,PartIIWordsandExpressions,.,Q12.WhatsthemainideaofSectionV(Para.28-Para.33)?Thefifthhalf-truthisthatarisingtidelift
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