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1、Unit Four Executive Caliber Lead-in Discussion1. 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 DiscussionLead-in DiscussionLead-in DiscussionLead-in DiscussionLead-in DiscussionLead-in DiscussionLead-in Discuss
2、ion 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 DiscussionStructural AnalysisPara. Main TopicsPara. 1-4Selfishness contributed to the crisis of business as well as that of capitalism. Para. 5-
3、33Five half-truths shape the way we think about business and the way we do business.Part I Questions about Part IQ1. Whats the main idea of Part I (Para. 1-4)? Selfishness contributed to the crisis of business as well as that of capitalism.Q2. The authors mention “a crisis” at the beginning of the t
4、ext. 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 business and the way we do business. As a result, we may destroy the very thing we cherish. Part I Questions about Part IQ3. What does “the ve
5、ry 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 of “half-truth”? Half-truth is a statement, especially one intended to deceive, that omits some of the facts necessary for a full description or a
6、ccount.Part I Questions about Part I Scandal and recession have cast a pall on the way CEOs go about leading their companies. Three distinguished professors send this memo Five Half-truths of Business as a wake-up call. (Line 1, Introduction) Scandal and economic decline have produced negative influ
7、ences on the way how CEOs lead their companies. Three celebrated professors send this memo about five half-truths of business to give warnings and suggestions to CEOs.Part I Sentence Interpretation recession (Introduction) n. an extended decline in general business activity synonyms: depression, dec
8、line example: In spite of the recession, private car sales are 5 per cent up. Part I Words and Expressionscatastrophe (para. 2)n. a great, often sudden calamitysynonyms: calamity, disasterexample: For each man who loses his job unemployment is a personal catastrophe.Part I Words and Expressionsdistr
9、ess (para. 3)n. anxiety or mental sufferingsynonyms: agony, anguishexample: He was in an extreme state of distress due to the termination of his employment.Part I Words and ExpressionsCEOA chief executive officer (CEO) is the highest-ranking corporate officer (executive) or administrator in charge o
10、f total management of an organization. An individual appointed as a CEO of a corporation typically reports to the board of directors. The CEO presides over the executive committee.Part I NotesQ1. Whats the main idea of Part II (Para. 5-Para. 33)? Five half-truths shape the way we think about busines
11、s and the way we do business.Part II Questions about Part IIQ2. Please illustrate the structure of the second part which can be further divided into five sections.Part II Questions about Part IIParagraphsSubheadingsa. Para(s) 5-9The first half-truth: Were only in it for ourselves.b. Para(s)10-16The
12、second half-truth: Corporations exist to maximize shareholder value.c. Para(s) 17-22The third half-truth: Companies need CEOs who are heroic leaders.d. Para(s) 23-27The fourth half-truth: Companies need to be lean and mean.e. Para(s) 28-33The fifth half-truth: A rising tide lifts all boats.Q3. Whats
13、 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 IIQ4. The authors mentioned “financiers who walk away from unethical deals (Para. 7)”; take international construction as an illustration, can you give any examples
14、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 Business simply wont work if each of us is only in it for ourselves. While
15、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 something that we cannot live without.Part II Sentence Interpretation
16、maximize (para. 5)v. to increase or make as great as possibleantonym: minimizeexample: Setting off twin bombs is a classic guerrilla tactic which seeks to maximize casualties. Part II Words and Expressionsintegrity (para. 6)n. steadfast adherence to a strict moral or ethical codesynonyms: honesty, s
17、incerityexample: 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 ExpressionsPart II Questions about Part IIQ5: Whats the main idea of Section II (Para. 10- Para.16)? The second half-truth is that corpora
18、tions exist to maximize shareholder value. Part II Questions about Part IIQ6: In Para. 13, the authors mention “shareholder”, “stockholder” and “stakeholder”; whats the difference among them?A shareholder or stockholder is anyone who owns shares of a given corporation or mutual fund. Stockholders ca
19、n 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 about Part IIQ6: In Para. 13, the authors mention “shareholder”, “stockholder” and “sta
20、keholder”; 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 external stakeholders, such as shareholders, suppliers, customers, providers, credito
21、rs, debtors, the government and surrounding communities. All shareholders are stakeholders, but not all stakeholders are shareholders.Part II Questions about Part IIQ7: Can you find several examples of “stakeholder” in Para. 12?Other constituencies (customers, employees, communities, suppliers, and
22、society at large).Part II Questions about Part IIQ8: What changes did the principles of the Business Roundtable undergo from 1981 to 1997?In 1981, the Business Roundtable asserted that the shareholder must receive a good return but the legitimate concerns of other stakeholders also must have the app
23、ropriate 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 altar of shareholder value is that its a reversal of our prior beliefs and behaviors. (Line 1
24、, 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 value at the expense of all of the other stakeholders is bad for business and bad for capitalis
25、m. 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 interests of stakeholders yet to get maximum value for shareholders. It brings about friction bet
26、ween 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 something they have done is very wrong synonyms: reprove, admonish example: U.S. lawmakers reprimand
27、ed 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: forerunner example: Guantanamo was opened by Obamas predecessor, George W. Bush, after the Se
28、pt. 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 synonyms: misinterpret, misunderstand example: Those eager to find evidence against Obamacare we
29、re 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 can be based synonym: standard example: It is probably clear to the lawmakers that none of the fu
30、nds 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 percent, mirroring a pickup in the United States, where Mexico sends more than three quarters of its
31、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 target of halving the countrys primary balance deficit in the next fiscal year.Part II Words and E
32、xpressionsBusiness RoundtableBusiness 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.Part II NotesQ9: Whats the main idea of Section III (Para. 17- Para. 22)? The third half-truth is that com
33、panies 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 of the spoils. (Line 8, Para. 21) Your job of being CEOs is to motivate others rather than usurping the
34、 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) The fact that we can barely find much leadership from CEOs may answer the question why we long for it so
35、 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 weaponry is the embodiment of a modern army and a crucial support for national security and rejuvenation.Pa
36、rt 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 Words and Expressions corrosive (Para. 21) a. gradually destructive; steadily harmful synonym: corrupt example:
37、 The president announced fresh plans to cleanse the system of corrosive corruption.Part II Words and Expressionsstock optionA right to buy or sell specific securities or commodities at a stated price within a specified time.Part II NotesLouis GerstnerLouis Vincent Gerstner, Jr. (born March 1, 1942 i
38、n 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 credited with turning around IBMs fortunes. Part II NotesQ10. Whats the main idea of Section IV (Para. 23-Para. 27)? Th
39、e fourth half-truth is that companies need to be lean and mean.Part II Questions about Part IIQ11. What does “lean and mean” mean? Can you find any reference from Para. 23 and Para. 24? “Lean and mean” is an American idiom that means fit (lean) and efficient (mean). In this text, it means the “slash
40、-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: Greek Prime Minister Samarass tactic of making a bet to save his government and career, while not alienating euro zone col
41、leagues, reflects Greeces still precarious position within the currency bloc.Part II Words and ExpressionsQ12. Whats the main idea of Section V (Para. 28-Para. 33)? The fifth half-truth is that a rising tide lifts all boats.Part II Questions about Part IIQ13. Both Para. 1 and Para. 33 starts with th
42、e 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 in writing.Part II Questions about Part II And wed all rather see the economy flowing rather than ebbing. (Line 1, Para. 2
43、9) 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: The government raised retail prices for petrol and diesel by about 10 percent as part of a plan to rationalize energy subsidie
44、s.Part II Words and Expressions Structural AnalysisThe structure of the text goes as follow:Part I (Para. 1-12): Business 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. 1-12Part II：A specific case of business model transformation at Infosys Technologies Limited of India.Para. 13-32
