大学体验英语综合教程4 Unit5 Business Ethics 的知识

Unit5BusinessEthicsTeachingProceduresGeneralWritingPassageBPassageALead-inPracticalWritingCompanyLogoLead-inLookatthefollowingpicturesofbigcompanieswithinternationalreputation,Doyouknowwhethertheyhavesomeproblemsofbusinessethics?CompanyLogoListentothis—Japanesecompanieshavestartedtorefinetheirethicsprogramsandinternalcontrolstructures.Some55%ofthemhaveestablishedacorporatecodeofconduct,ethicsguidelines,compliance_________(S1)

andothersuchdocuments,37%haveadepartmentordivisiondedicatedtoethicsandcomplianceissues,and43%_______(S2)

holdethics-relatedtrainingprogramstargetingemployees.AgrowingnumberofJapanesebusinesseshavetakenstepstoreinforceoversightfunctions,forexamplebyengagingindependentoutsidedirectors.In1997,SonyCorporationtookthe__________(S3)ofcuttingitsexecutiveboardfrom38to10directorswhileintroducingthenewpostofexecutiveofficers.OthercompaniesincludingOmronandKobeSteelfollowedsuit,andby2000about240businesseshadreportedlymadesimilar_________(S4)reforms.

CompanyLogoListentothis—Evenso,theimageofcompaniesportrayedbythemarketandthegeneralpublic___________(S5)farfromethical.Forexample,inasurveyofstudents'viewsoftheJapanesebusinesscommunity,conductedinautumn2000,68%oftherespondentsagreedthat"Honestcompaniesarenot___________(S6)

whiledishonestcompaniesaremakingprofits";63%believedthat"Thereishardlyanyinformationastowhichcompaniesare___________(S7),";84%believedthat“__________(S8)";and62%agreedthat"manycompaniesbelieveit'sworthengaginginunlawfulpractices."Ifthisisthenewgeneration'sperceptionofreality,itmeansthat______________(S9)

.Certainly,companieswhosebusinessperformancehasdeterioratedasaresultofscandals____________(S10)

.Butsucheffortsarenotlong-lastingifacompanyfearstheywillreduceitscompetitiveness.CompanyLogoListentothis—Japanesecompanieshavestartedtorefinetheirethicsprogramsandinternalcontrolstructures.Some55%ofthemhaveestablishedacorporatecodeofconduct,ethicsguidelines,compliance_________(S1)

andothersuchdocuments,37%haveadepartmentordivisiondedicatedtoethicsandcomplianceissues,and43%____________(S2)

holdethics-relatedtrainingprogramstargetingemployees.AgrowingnumberofJapanesebusinesseshavetakenstepstoreinforceoversightfunctions,forexamplebyengagingindependentoutsidedirectors.In1997,SonyCorporationtookthe__________(S3)ofcuttingitsexecutiveboardfrom38to10directorswhileintroducingthenewpostofexecutiveofficers.OthercompaniesincludingOmronandKobeSteelfollowedsuit,andby2000about240businesseshadreportedlymadesimilar__________(S4)reforms.

manualsperiodically

initiative

structuralCompanyLogo

Evenso,theimageofcompaniesportrayedbythemarketandthegeneralpublic___________(S5)farfromethical.Forexample,inasurveyofstudents'viewsoftheJapanesebusinesscommunity,conductedinautumn2000,68%oftherespondentsagreedthat"Honestcompaniesarenot___________(S6)

whiledishonestcompaniesaremakingprofits";63%believedthat"Thereishardlyanyinformationastowhichcompaniesare___________(S7),";84%believedthat“________________________________________(S8)";and62%agreedthat"manycompaniesbelieveit'sworthengaginginunlawfulpractices."Ifthisisthenewgeneration'sperceptionofreality,itmeansthat________________________________________________________________________________(S9).Certainly,companieswhosebusinessperformancehasdeterioratedasaresultofscandals_______________________________________________________________(S10)

.Butsucheffortsarenotlong-lastingifacompanyfearstheywillreduceitscompetitiveness.

remains

Listentothis—rewarded

honest

Penalties

against

scandals

are

toolenient

Japanesecompanieshavelittleincentivetotackleethicalandcompliance

issues

internally

havemadegreatereffortstodealwithethicalandcomplianceissues

CompanyLogoPassageAReadandExplorePassageBCompanyLogoPreviewCheckDetailedStudyLanguage

DrillPassageACompanyLogoPreviewCheck1.Whatisthecynicalattitudetowardbusinessmorally?Andwhatistheskepticalone?

TextReferenceMoneymakingisinevitablytaintedbygreed,deceit,andexploitation./Behindeverygreatfortuneliesagreatcrime.CompanyLogoPreviewCheck2.WhydoestheauthormentionTheBibleinparagraph8?

TextReferenceToshowthatimmoralmoneymakinggoesbackalongway.CompanyLogoPreviewCheck3.Howdothecontemporarymediadefinebusiness?

TextReferenceasgreedy,corruptandruthless.CompanyLogoPreviewCheck4.WhatdoStephenCoveryandTomPetersthinkofbusinessmorality?TextReferenceMoralvirtueisessentialforsuccessinbusiness.CompanyLogoPreviewCheck5.What'stheauthor'sattitudetowardmoralityinbusiness?

TextReferenceAgainstthetraditionalviewandinfavorofcreatingnewmoralitynormsinbusiness.CompanyLogoPassageATheMoralAdvantage:Howtosucceedinbusinessbydoingtherightthing

TextAsforthemoraladvantageinbusiness,ofallplaces,everyoneknowsamodicumofethicsiscalledforinanybusiness—youcan'tcheatyourcustomersforeverandgetawaywithit.Butwouldn'titbemoreadvantageousifyouactuallycouldgetawaywithit?Profitswouldsoaroutofsight!Thenyouwouldreallyhaveanadvantage,orsothethinkingmightgo.

Thenotionofseekingthemoraladvantageisanewwayofthinkingaboutethicsandvirtueinbusiness,anapproachthatdoesnotaccepttheneedfortrade-offsbetweenambitionandconscience.CompanyLogoPassageAFarfromobstructingthedriveforsuccess,asenseofmoralpurposecanhelpindividualsandcompaniesachieveatthehighest—andmostprofitable—levels.Cynicismdominatesourattitudesaboutwhatittakestosucceedinbusiness.Acommonwayofthinkingaboutmoralityinbusinessgoessomethinglikethis:

Ethicalconductisanunpleasantmedicinethatsocietyforcesdownbusinesspeople'sthroatstoprotectthepublicinterestfrombusinessavarice.Moralitygetsinthewayofthecold,hardactionstrulyambitiousSkepticismpeoplemusttaketoreachtheirgoals.Moneymakingisinevitablytaintedbygreed,deceit,andexploitation.CompanyLogoPassageAThequestforprofitsstandsinoppositiontoeverythingthatismoral,fair,decent,andcharitable.Skepticismaboutmoneymakinggoesbackalongway.TheBiblewarnsthatit'sharderforarichmantoenterthekingdomofheaventhanforacameltopassthroughtheeyeofaneedle."Behindeverygreatfortune,"wroteFrenchnovelistHonorédeBalzacinthe1800s,"liesagreatcrime."BritishauthorG.K.Chestertonsoundedthesamethemeintheearly20thcentury,notingthatabusinessman"istheonlymanwhoisforeverapologizingforhisoccupation.“Thecontemporarymediaoftencharacterizebusinessasnothingmorethanaself-servingexerciseingreed,carriedoutinascorruptandruthlessamanneraspossible.Intelevisionandmovies,moneymakinginbusinessistaintedbyavarice,exploitation,CompanyLogoPassageAordownrightvillainy.Theunflatteringportrayalshavebecomeevenmorepointedovertime.In1969,thebusinessmaninPhilipRoth'sGoodbye,Columbusadvisesthestory'sprotagonist,"Togetbyinbusiness,you'vegottobeabitofathief."Heseemslikeabenignlywise,figurecomparedwithWallStreet's1980sicon,GordonGekko,whoseimmortalwordswere"Greedisgood."Yetsomeimportantobserversofbusinessseethingsdifferently.WidelyreadgurussuchasStephenCoveyandTomPeterspointtothepracticalutilityofmoralvirtuessuchascompassion,responsibility,fairness,andhonesty.Theysuggestthatvirtueisanessentialingredientintherecipeforsuccess,andthatmoralstandardsarenotmerelycommendablechoicesbutnecessarycomponentsofathrivingbusinesscareer.ThisisafrequentthemeincommencementaddressesCompanyLogoPassageAandotherpersonaltestimonials:Virtuousbehavioradvancesacareerinthelongrunbybuildingtrustandreputation,whereasethicalshortcomingseventuallyderailcareers.ThehumoristDorothyParkercapturedthisideainoneofhersignaturequips:“Timewoundsallheels.

Sowho'sright---thosewhobelievethatmoralityandbusinessaremutuallyexclusive,orthosewhobelievetheyreinforceoneanother?Doniceguysfinishlast,orarethosewhoadvocatedoingwellbydoinggoodtherealwinners?Isthebusinessworldadenofthieveryorahavenforupstandingcitizens?WithcolleaguesHowardGardneratHarvardUniversityandMihalyCsikszentmihalyiatClaremontGraduateUniversity,I'veexaminedthisquestionbyinterviewing40topbusinessleaders,suchasMcDonald'sCompanyLogoPassageACEOJackGreenbergandthelateWashingtonPostpublisherKatharineGraham,between1998and2000aspartofourjoint"ProjectonGoodWork."Wefoundthatastrongsenseofmoralpurposenotonlypromotesabusinesscareerbutalsoprovidesatellingadvantageinthequesttobuildathrivingenterprise.Infact,asenseofmoralpurposestandsatthecenterofallsuccessfulbusinessinnovations.Farfrombeingaconstrainingforcethatmerelykeepspeoplehonestandoutoftrouble,moralitycreatesafertilesourceofbusinessmotivation,inspiration,andinnovation.CompanyLogoPassageAThisisdifferentfromtheviewofmoralityyou'llencounterinatypicalbusiness-ethicscourse.It'ssodifferentthatInowspeakaboutmoralities,intheplural,whendiscussingtheroleofvirtueandethicsinbusiness.Moralityinbusinesshasthreedistinctfaces,eachplayingitsownspecialroleinensuringbusinesssuccess.(867words)CompanyLogo

HonorédeBalzac(1799-1850):Frenchjournalistandwriter,oneofthecreatorsofrealisminliterature.Balzac'shugeproductionofnovelsandshortstoriesarecollectedunderthenameLaComédiehumaine,whichoriginatedfromDante′sTheDivineComedy.CompanyLogoPhilipRoth(1933—):Americannovelistandshortstorywriter.RothachievedfirstfamewithGOODBYECOLUMBUS(1959).ItconsistedofanovellaandfiveshortstoriesanddescribedthelifeofaofJewishmiddle-classfamily.

CompanyLogoG.K.Chesterton(1874—1936):

HewasaprolificandgiftedBritishwriterinvirtuallyeveryareaofliterature.Amanofstrongopinionsandenormouslytalentedatdefendingthem,hisexuberantpersonalityneverthelessallowedhimtomaintainwarmfriendshipswithpeople—suchasGeorgeBernardShawandH.G.Wells--withwhomhevehementlydisagreed.Duringhislifehepublished69booksandatleastanothertenhavebeenpublishedafterhisdeath.Manyofthosebooksarestillinprint.CompanyLogoGordonGekko,aherointhefilmWallStreet,in1987.Gordonisthepremierecapitalist.Tohimitsnotabouthowmuchmoneyonehasasitsa"zerosumgame."Gekkoproudlyboaststhathemakesnothing.Gekkousesinsideinformationtogaintheupperhandinhisstockinvestments.HesignsovercontrolofhisportofoliotoBudFoxatonepointsohecouldbefullyinsulatedfromanypotentiallegaldownfalldowntheroad.CompanyLogoStephenCovey,PhD,isaninternationallyrespectedleadershipauthority,familyexpert,teacher,organizationalconsultant,andco-chairmanofFranklinCoveyCo.Heisalsotheauthorofseveralacclaimedbooks,includingThe7HabitsofHighlyEffectivePeople.CompanyLogoTomPeters(1942—):

U.S.contemporaryeconomist.FortunecallsTomPeterstheUr-guru(guruofgurus)ofmanagement—andcompareshimtoRalphWaldoEmerson,HenryDavidThoreau,WaltWhitmanandH.L.Mencken.Tomdescribeshimselfasaprinceofdisorder,championofboldfailures,maestroofzest,professionalloudmouth,corporatecheerleader,loverofmarkets,capitalistpig,andcard-carryingmemberoftheACLU.CompanyLogoClaremontGraduateUniversity

CGUislikenoothergraduate-leveluniversityinthenation.Foundedin1925,CGUisanindependentinstitutiondevotedentirelytograduatestudy.TheCarnegieFoundationfortheAdvancementofTeachinghasclassifiedCGUasaDoctoralResearchUniversity-Extensive,thehighestratinginitsnewclassificationsystem,reservedforsomeoftheworld'sfinestinstitutions.CompanyLogoWashingtonPostpublisherKatharineGrahamKatharineGrahamwaschairmanoftheexecutivecommitteeofTheWashingtonPostCompanyfrom1993untilherdeathonJuly17,2001.ShewaschairmanoftheboardfromMay1973toMay1991andservedaspresidentfrom1963to1973.ShewaspublisherofTheWashingtonPostnewspaperfrom1969to1979.Mrs.GrahamwastheauthorofPersonalHistory,amemoirforwhichshereceivedthe1998PulitzerPrizeforBiography.CompanyLogoMicrosoftCorporationisaleadingAmericancomputersoftwarecompany.Thecompany’sWindowsoperatingsystemsforpersonalcomputersarethemostwidelyusedoperatingsystemsintheworld.Microsoft’sotherwell-knownproductsincludeWord,awordprocessor;Excel,aspreadsheetprogram;MicrosoftAccess,adatabaseprogram;andPowerPoint.Microsoft’sInternetExplorerallowsuserstobrowsetheWorldWideWeb.CompanyLogomodicumn.modicumofsth—smallormoderateamountofsthExamplesAnyonewithevenamodicumofintelligencewouldhaverealizedthat!CompanyLogocynicn.personwhobelievesthatpeopledonotdothingsforgood,sincereornoblereasons,butonlyfortheirownadvantagecynicismn.cynical

attitude愤世嫉俗主义CompanyLogoavaricen.greedforwealthorgainExamplesAvaricemakesrichpeoplewanttobecomeevenricher.CompanyLogoskepticismn.doubtingstateofmindskepticaladj.skepticalof/aboutsth—unwillingtobelievesthe.g.I‘mratherskepticalabouttheirprofessedsympathyforthepoor.CompanyLogodownrightadj.thorough,completefrank,straightforwardExamplesadownrightlie,downrightstupidityCompanyLogovillainyn.wickednessExamplescapableofgreatvillainy/villainiesCompanyLogoportrayaln.actionofportrayingdescriptionorrepresentationExamples1.askillfulportrayalofalonelyandembitteredoldmanCompanyLogoprotagonistn.Examples1.anoutspokenprotagonistofelectoralreform2.aleadingprotagonistofthewomen’smovementchiefcharacterinadrama;heroleaderoradvocateofacauseCompanyLogobenignadj.(ofpeopleoractions)kindly;gentlemild;pleasant(ofatumor,etc)notlikelytospreadorrecuraftertreatment;notdangerousCompanyLogoiconn.sacredperson,someonefamouswhoisadmiredbymanypeopleandisthoughttorepresentanimportantideaExamplesa60sculturaliconCompanyLogogurun.expert,someonewhoknowsalotaboutaparticularsubject,andgivesadvicetootherpeopleExamplesamanagementguru,afashionguruCompanyLogoderailv.ifatrainderailsorsthderailsit,itgoesoffthetrackstospoilorinterruptaplan,agreementetcExamplesamistakethatmightderailthenegotiationsCompanyLogoquipn.wittyorsarcasticremarkExamplesHeendedhisspeechwithamerryquip.CompanyLogocharitableadj.charitable(to/towardssb.)—

generousingivingmoney,food,etctopoorpeopleExamplesacharitableinstitution,organization,body,etc.CompanyLogoconsciencen.thepartofyourmindthattellsyouwhetherwhatyouaredoingismorallyrightorwrongExamplesIcan’ttellyouwhattodo–it’samatterofconscience(somethingthatyoumustmakeamoraljudgmentabout.)CompanyLogoconstrainv.constrainsbfromdoingsth—tostopsomeonefromdoingwhattheywanttodoExamplesFinancialfactorsshouldnotconstraindoctorsfromprescribingthebesttreatmentforpatients.moretolearnCompanyLogoconstrainedadj.feelconstrainedtodosth—tofeelthatyoumustdosth.ExamplesHefeltconstrainedtoaccepttheinvitation.CompanyLper,acceptableExamplesWemustprovidedecenthousingforthepoor.Thehospitalhasnodecentequipment.He’sdonethedecentthingandresigned.CompanyLogotaintv.ifsthbadtaintsasituationorperson,itmakesthepersonorsituationseembadtodamagesomethingbyaddinganunwantedsubstancetoitExamplesBakerarguesthathistrialwastaintedbynegativepublicity.Thewaterhadbeentaintedwithadeadlytoxin.CompanyLogoupstandingadj.honestandresponsiblestandinguprightorpointingupwardsExamplesupstandingyoungmenandwomenCompanyLogo…youcan'tcheatyourcustomersforeverandgetawaywithit.

Paraphrase…ifyoukeeptryingtodeceiveyourcustomerstheywillfindout.

CompanyLogoButwouldn'titbemoreadvantageousifyouactuallycouldgetawaywithit?Profitswouldsoaroutofsight!

ParaphraseWouldn’titbebetterifyoureallyrunawayfromit?Youwouldbesomuchlucky.

CompanyLogoThecontemporarymediaoftencharacterizebusinessasnothingmorethanaself-servingexerciseingreed,carriedoutinascorruptandruthlessamanneraspossible.

ParaphraseThemodernpressoftendescribesbusinessasagreedyactivity,doneincorruptandfiercemanner.

CompanyLogoFarfrombeingaconstrainingforcethatmerelykeepspeoplehonestandoutoftrouble,moralitycreatesafertilesourceofbusinessmotivation,inspiration,andinnovation.

ParaphraseBusinessethicsarenotonlyaconstrainingforcetokeeppeoplehonest,butalsoarichsourceofbusinessmotivation,inspirationandinnovation.

CompanyLogoLanguageFocus1Vocabulary2Phrases3ReadandTranslateCompanyLogoEx.4Fillintheblankswiththewordsgivenbelow.Makechangeswherenecessary.morality quest downright advocatedcontemporarydeceiving avariceobstructed captured conscience

1.Ihavetoquestionthe_________offorcingpoorpeopletopayfortheirmedicaltreatment.

morality2. Nothingwillstopthemintheir_________fortruth.

quest

CompanyLogoEx.4Fillintheblankswiththewordsgivenbelow.Makechangeswherenecessary.morality quest downright advocatedcontemporarydeceiving avariceobstructed captured conscience

3.Ithinkthewayshe’sbeentreatedisa(n)_________disgrace.downright4.He___________takingamorelong-termview.advocatedCompanyLogoEx.4Fillintheblankswiththewordsgivenbelow.Makechangeswherenecessary.morality quest downright advocatedcontemporarydeceiving avariceobstructed captured conscience

5.Thewriter,aswellashis_________,wasinterestedinthesamesubjects.contemporaries

6.Shesayshe’llcomeback,butshe’s__________herself.

deceivingCompanyLogoEx.4Fillintheblankswiththewordsgivenbelow.Makechangeswherenecessary.morality quest downright advocatedcontemporarydeceiving avariceobstructed captured conscience

7.Somepeoplebelievethatfootballclubsaresometimesmotivatedby_________.

avarice8.Hegottenyearsinprisonforwithholdingevidenceand________thecourseofjustice.obstructingCompanyLogoEx.4Fillintheblankswiththewordsgivenbelow.Makechangeswherenecessary.morality quest downright advocatedcontemporarydeceiving avariceobstructed captured conscience

9.Twoofthesoldierswerekilledandtherestwere_____________.captured10.Aguilty____________preventedherfromsleepingatnight.conscience

CompanyLogoEx.5Completethefollowingsentenceswithphrasesorexpressionsfromthepassage.1.Afterafewyearsasadoctorhelefttheprofessionand________journalism.tookto2.Hisfamily________tothetimeofNormanConquest.goesbackCompanyLogoEx.5Completethefollowingsentenceswithphrasesorexpressionsfromthepassage.3.Itisofteneasiertomakeplansthanto___________them___________.

carry…out4.Indefenseofhispolicy,theMinister___________thesharpdecreaseinroaddeaths.pointedtoCompanyLogoEx.5Completethefollowingsentenceswithphrasesorexpressionsfromthepassage.5.Theunionsare___________thegovernmentovertheissueofprivatization.inoppositiontoCompanyLogoEx.6TranslatethefollowingsentencesintoEnglish.1.他们登上的飞机起飞后立刻就消失了。（soar，outofsight）Theairplanetheyboardedsoaredoutofsightassoonasittookoff.boardoutofsightCompanyLogoEx.6TranslatethefollowingsentencesintoEnglish.2.在会上,双方展开了激烈的争论。改革派提出许多改革措施，而保守派反对提出的改革建议。(inoppositionto)Atthemeeting,thetwosideshadaveryhotdebate.Thereformersputforwardmanyreformingmeasures,butconservativeswereinoppositiontotheproposedchanges.thereformersconservativesinoppositiontoCompanyLogoEx.6TranslatethefollowingsentencesintoEnglish.3.从长远看,我们必须学习更多的科技知识，除了我们的专业课程之外，懂得计算机、英语和驾驶是我们工作中必不可少的。Inthelongrun,weshouldlearnmoreaboutscienceandtechnology.Besidesthemajorsubject,theknowledgeofcomputers,EhelongrunmajorsubjectCompanyLogoEx.6TranslatethefollowingsentencesintoEnglish.4.为练成完美的体型,她每周做四次健身操。(inquest)

Shedoesgymnasticexercisesfourtimesaweekinquesttoachievetheperfectbody.inquesttogymnasticexerciseCompanyLogoEx.6TranslatethefollowingsentencesintoEnglish.5.每天早晨，一些老人在公园里一边锻炼身体一边聊天。(atthesametime)Everymorningintheparksomeoldpeoplearedoingphysicalexercisesthere,chattingwitheachotheratthesametime.doingphysicalexercisesCompanyLogoPassageReadingLanguageFocusPracticePassageBCompanyLogoPre-readingquestionBeforereadingPassageB,discusswithyourfriendsonwhichwayyouthinkthesellingismorehumanandethical?BeijingSupermarketDepartmentCompanyLogoPassageBShakingHandsOntheWeb

TextJackWelchsaidsomethingtheotherdaythatbroughtmeupshort:"Humanrelationshipsaredeclininginthesellinggame.”ItjarredmebecauseI'dbeenwonderingwhethermaybetheexactoppositewastrue:IntheInternetAge,asproductsbecomecommoditizedandbuyerscomparepricesandfeaturescontinually,maybehumanrelationshipswouldbecomeoneofthefewdifferentiatorsthatcouldcommandsignificantmargins.Itisn'thappening,saysGeneralElectric'sCEO.Butwhateverishappening,itgoestotheheartofhowwe'llalldobusinessinourrevolutionizedeconomy.CompanyLogoPassageB

Let'sadmitfirstthat"relationship"isoneofthemostabusedwordsinbusiness.Dot-comCEOsliketosay,"Wehaverelationshipswithtwomillioncustomers,"butthat'susuallyalie.Itmeanstwomillioncustomershaveplacedatleastoneorder.Howmanynevercomebackandneverwill?It'sfashionablenowforvirtuallyanyonewhosellsanythingtosayhehasarelationshipwiththebuyer.Butthatisn'tforthesellertosay;onlythebuyer'sopinioncountswhenitcomestojudgingthisconnection.

Welchknowspersonalsalesrelationshipsaren'tdisappearing.Insellingexpensive,mission-criticalproductslikepowerturbinesandaircraftengines,thosebondsalwaysmatter.Butwhat'samazingishowdeeplytheNet—inlessthan2,000daysofexistenceasaCompanyLogoPassageBbusinesstool—haspushedintotherealmofbig-ticketsalesthatpreviouslywouldhavedemandedheavypersonalflogging.Example:RadiologistswhoownGE'sCTscannersandMRImachinescangototheNetandtryoutnewGEsoftwarethatimprovesthemachines'efficiencyonspinalexams;ifthedoctorslikeit,theycanbuyitfor$65,000,as65%ofthemdo.Threeyearsagoonlyafewvisionariesimaginedthatsomeonewouldbuya$65,000productwithoutseeingorevenspeakingtoasalesperson.YoucanunderstandwhyWelchsays,"Theoldbelly-to-bellysellingislessandlesseffective.“

Itisforsure,yetsomecompaniesareemphasizingitmorethanever.Forexample,mostofthebig,incumbentretailbrokeragesfaceacommonproblem:Onlinebrokersarestealingtheindustry'soldCompanyLogoPassageBsourceofprofits,tradingcommissions,bycuttingthemalmosttozero.Soincumbentbrokersfiguretheonlywaytomakemoneynowistocultivaterelationships,leadingcustomerstolikeandtrustthemenoughtobuyhigh-marginproductsandserviceslikefront-end-loadmutualfundsandfinancialplanningadvice.That'sonereasonbrokersareallcallingthemselvessomethingelse,likefinancialadvisors,andtryingharderthanevertogetbellytobellywithyou.

They'reassuming,asaremanybusinesspeople,thattheNetisdestinedtobeadeathpitofmercilesspricecompetition.Yetitneedn'tbe,astheAmazonparadoxshows.Itravelalotandtalkwithallkindsofpeople,andI'mstruckbyhowmanyofthemspeakpassionatelyabouttheirretailexperiencewithA.CompanyLogoPassageBIt'sabouttheonlyretailexperiencetheyseemtolove—andofcourseitinvolvesnohumanbeings.Ifweacceptthathumanrelationshipsareinvariablythemostrewardingpartsofourlives,howcanpeoplegetsocrankedupaboutanexperienceinwhichtheydon'tsee,touch,orhearanothersoul?

TheansweristhatAmazoncreatesamorehumanrelationshipthanmostpeoplerealize.CustomersloveAmazonnotbecauseitoffersthelowestprices—itdoesn't—butbecausetheexperiencehasbeencraftedsocarefullythatmostofusactuallyenjoyit.Thatisnotprimarilyatechnologicalachievement.Itresultsfrommanypeopleatheadquartersobsessingoverwhatcustomerswantinafundamentallynewkindofrelationship,theonlineexperience.CompanyLogoPassageBNomatterwhatbecomesofAmazon,ithastaughtussomethingnew.

I‘veaskedthemostprominentchiefsintheshrinkingclubofNetfirmsstillstanding—JeffBezosofAmazon,JerryYangofYahoo—myfavoritequestionforbusinesspeopleeverywhere:Whatisthesourceofyourcompetitiveadvantage?Noneofthesethreesaidanythingabouttechnology.Theyallsaidessentiallythesamething:creatingacustomerexperienceissuperiortoanythingmycomp