INTERNATIONAL TRADE
The U.S. international trade gap in September widened to $36.5 billion from $30.7 billion worth of red ink in August. Exports rose 2.9 percent while imports jumped 5.8 percent. The worsening of the trade deficit was led by a wider petroleum shortfall which came in at $20.5 billion compared to $16.6 billion the previous month. The nonpetroleum gap increased to $25.9 billion from $24.3 billion in August. Looking ahead, the sneak peak indicators are mixed. First, there could be a drop in auto imports from Canada as not as many are needed with cash for clunkers having concluded. But a drop in shipments of nondefense capital goods in October could show up in lower capital goods exports. Also, higher oil prices will cut into any potential improvement in the trade gap.
RETAIL SALES
Retail sales in October rebounded 1.4 percent after a revised 2.3 percent fall in September. The October jump in overall sales was led by a 7.4 percent rebound in auto sales after a 14.3 percent plunge in September. Excluding motor vehicles, retail sales improved 0.2 percent, following a 0.4 percent rise in September. Excluding motor vehicles and gasoline, retail sales increased 0.3 percent, matching September's gain. Looking ahead indicators are mixed. Motor vehicle sales were up again for November but department store sales were soft for the month as a whole. Net, there likely will be a sizeable rise in retail sales for November, led by autos.
TREASURY BUDGET
The U.S. Treasury monthly budget report showed a massive $176.4 billion deficit in October, the first month of the government's fiscal year. The year-ago October deficit was $155.5 billion. Latest receipts were down a year-on-year 18 percent with outlays up 6 percent. Looking ahead, the month of November typically shows a deficit for the month. Over the past 10 years, the average deficit for the month of November has been $68.4 billion and $95.3 billion over the past 5 years. The November 2008 deficit came in at $165.4 billion.
JOBLESS CLAIMS
Initial jobless claims fell 5,000 in the November 28 week to 457,000, extending a run of impressive improvement. Continuing claims for the November 21 week rose slightly to 5.465 million with the insured-workers unemployment rate steady at 4.1 percent, well down from a summer peak of 5.2 percent.
Wednesday, December 9, 2009
Week 14
"Organizational Control and Quality Improvement" (Final Chapter)
Here goes a few key points we discussed from this chapter.
The three basic components of organizational control systems are objectives, strandards, and an evaluation-reward system.
According to the performance pyramid, strategic control involves the downward translation of objective and the upward translation of performance measures. Both external effectiveness ans internal efficiency criteria need to be achieved.
Product quality involves much more than the basic idea of conformance and requirements. Five types of product quality are transcedent, product-based, user-based, manufactoring-based, and value-based.
Total quality management (TQM) involves creating a culture dedicated to customer-centered, employee-driven continuous improvement. The four principles are: Do it right the first time, be customer-centered, make continuous improvement a way of life, and build teamwork and empowerment.
Seven Basic TQM process improvement tools are flow charts, fishbone diagrams, pareto analysis, control charts, histograms, scatter diagrams, and run charts.
Here goes a few key points we discussed from this chapter.
The three basic components of organizational control systems are objectives, strandards, and an evaluation-reward system.
According to the performance pyramid, strategic control involves the downward translation of objective and the upward translation of performance measures. Both external effectiveness ans internal efficiency criteria need to be achieved.
Product quality involves much more than the basic idea of conformance and requirements. Five types of product quality are transcedent, product-based, user-based, manufactoring-based, and value-based.
Total quality management (TQM) involves creating a culture dedicated to customer-centered, employee-driven continuous improvement. The four principles are: Do it right the first time, be customer-centered, make continuous improvement a way of life, and build teamwork and empowerment.
Seven Basic TQM process improvement tools are flow charts, fishbone diagrams, pareto analysis, control charts, histograms, scatter diagrams, and run charts.
Week 13
"Change Conflict, and Negotiation"
The way that businesses run today, managers need to do a much better job of managing the process of change. In the book we saw that the Nadler and Tushman's model identifies four types of organizational change by cross-referencing anticipatory and reactive change with incremental and strategic change. Four resulting types of change are tuning, adaptation, re-orientation, and re-creation.
People who like change tend to go through three stages: unrealistic optimism, reality shock, and constructive direction. When someone fears or dislikes change, a more complex process involving five stages tend to occur: getting off on the wrong track, laughing it off, experiencing growing self-doubt, buying in, and moving in a constructive direction. Managers are challenged to help employees deal efectively with reality shock and self-doubt.
Inevitable resistance to change must be overcome if the organization is to suceed.
Three basic elements of effective negotiations are a win-win attitude, a best alternative to a negotiated agreement to serve as a negotiating standard, and the calculation of a bargaining zone to identify overlapping interests.
The way that businesses run today, managers need to do a much better job of managing the process of change. In the book we saw that the Nadler and Tushman's model identifies four types of organizational change by cross-referencing anticipatory and reactive change with incremental and strategic change. Four resulting types of change are tuning, adaptation, re-orientation, and re-creation.
People who like change tend to go through three stages: unrealistic optimism, reality shock, and constructive direction. When someone fears or dislikes change, a more complex process involving five stages tend to occur: getting off on the wrong track, laughing it off, experiencing growing self-doubt, buying in, and moving in a constructive direction. Managers are challenged to help employees deal efectively with reality shock and self-doubt.
Inevitable resistance to change must be overcome if the organization is to suceed.
Three basic elements of effective negotiations are a win-win attitude, a best alternative to a negotiated agreement to serve as a negotiating standard, and the calculation of a bargaining zone to identify overlapping interests.
Week 12
"Influence, Power, and Leadership"
Some things that we saw in this chapter was that influence is fundametanl to management because individuals must be influenced to pursue collective objectives. Researchers have identified eight generic influence tactics used fon the job: consultation, rational persuasion, inspirational appeals, ingratiating tactics, coallition tactics, pressure tactics, upward appeals, and exchange tactics.
We discussed the the five basic types of power which are reward , coercive, legitimate, referent, and expert power.
In addition we also learned that formal leadership consints ofminfluencing relevant others to voluntarily pursue organizational objectives.
Leadership theory has evolved through four major stages: trait theory, behavioral styles theory, situational theory, and transformational theory.
Some things that we saw in this chapter was that influence is fundametanl to management because individuals must be influenced to pursue collective objectives. Researchers have identified eight generic influence tactics used fon the job: consultation, rational persuasion, inspirational appeals, ingratiating tactics, coallition tactics, pressure tactics, upward appeals, and exchange tactics.
We discussed the the five basic types of power which are reward , coercive, legitimate, referent, and expert power.
In addition we also learned that formal leadership consints ofminfluencing relevant others to voluntarily pursue organizational objectives.
Leadership theory has evolved through four major stages: trait theory, behavioral styles theory, situational theory, and transformational theory.
Wednesday, November 18, 2009
Week 11
"Group Dynamics and Teamwork"
This week we talked about groups which are made up of two or more freely interacting individuals who have a common goal or purpose. It is a very essential for managers to have a working understanding of group dynamics, afterall they are the baseic building blocks of any organization.
Building mature groups was broken down to a six step process, where during the first three stages (orientation, conflict and challenge, and cohesion) power and authority problems are resolved. groups are faced with the obstcle of uncertainty over interpersonal relations during the last three stages (delusion, disillusion, and acceptance).
Among group work, many different aspects can work against the group's effectiveness, but we did discuss an important aspect that was Organizations politics, which is usually associated with larger organizations, but could also happen in any organization. Political tactics such as posturizing, empire building, coolecting and using social UOU's, creating power and loyalty cliques, and destructive competions need to kept on check if the organization is to be effective.
Among all aspects of group work, the chapter listed Trust, as a key ingredient of effective teamwork, which is actually very low in the American workplace today.
Managers can build trust in an organization or group by creating an environment of better communication among workers, in addition to support, respect, fairness, and competence within the company.
When group members trust one another, there will be a morea active exachange of information, more interpesonal influence, and better results overall which is the pretty much the goal of any company.
Saturday, November 14, 2009
Story of Stuff
Watch this video: http://www.youtube.com/watch?v=gLBE5QAYXp8
From its extraction through sale, use and disposal, all the stuff in our lives affects communities at home and abroad, yet most of this is hidden from view. The Story of Stuff is a 20-minute, fast-paced, fact-filled look at the underside of our production and consumption patterns. The Story of Stuff exposes the connections between a huge number of environmental and social issues, and calls us together to create a more sustainable and just world. It'll teach you something, it'll make you laugh, and it just may change the way you look at all the stuff in your life forever.
©Tides Foundation & Funders Workgroup for Sustainable Production and Consumption
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 Unported License.
From its extraction through sale, use and disposal, all the stuff in our lives affects communities at home and abroad, yet most of this is hidden from view. The Story of Stuff is a 20-minute, fast-paced, fact-filled look at the underside of our production and consumption patterns. The Story of Stuff exposes the connections between a huge number of environmental and social issues, and calls us together to create a more sustainable and just world. It'll teach you something, it'll make you laugh, and it just may change the way you look at all the stuff in your life forever.
©Tides Foundation & Funders Workgroup for Sustainable Production and Consumption
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 Unported License.
Wednesday, November 11, 2009
Week 10
"Motivating Job Performance"
Some theories we studied this week was Maslow's five-level hierarchy of needs that makes it clear to managers that people are motivated byemerging rather than fullfilled needs. Differently, Herzberg believed that the most that waged and working conditions cand do is eliminate sources of dissatisfaction. According to Herzberg the key to true satisfaction and motivaitons, is an enriched job that provides and opportunity of achievement, responsibility, and personal growth.
The expenctancy theory is based on the idea that the strength of one's motivation to work is the product of perceived probabilities of acquiring personally valued rewards. Both effort-performance and performance-reward probabilities are important in expectancy theory.
Goals can also be an effective motivational tool when they are specific, difficult, participatively set, and accompanied by feedback on performance. Goals motivate performance by directing attention, encouraging effort and persistence, and prompting goal-attainment strategies and action plans.
Some theories we studied this week was Maslow's five-level hierarchy of needs that makes it clear to managers that people are motivated byemerging rather than fullfilled needs. Differently, Herzberg believed that the most that waged and working conditions cand do is eliminate sources of dissatisfaction. According to Herzberg the key to true satisfaction and motivaitons, is an enriched job that provides and opportunity of achievement, responsibility, and personal growth.
The expenctancy theory is based on the idea that the strength of one's motivation to work is the product of perceived probabilities of acquiring personally valued rewards. Both effort-performance and performance-reward probabilities are important in expectancy theory.
Goals can also be an effective motivational tool when they are specific, difficult, participatively set, and accompanied by feedback on performance. Goals motivate performance by directing attention, encouraging effort and persistence, and prompting goal-attainment strategies and action plans.
Wednesday, November 4, 2009
Update in Construction Spending
Construction spending was sharply higher than expected for September but a large downward revision to August was essentially offsetting. Overall construction spending advanced 0.8 percent in September after slipping a downwardly revised 0.1 percent in August. The increase in September was well above the consensus forecast for a 0.2 percent dip. However, the decrease in August is now significantly lower than the original estimate of a 0.8 percent gain. The boost in spending in September was led by a 3.8 percent surge in private residential outlays. Private nonresidential declined 1.8 percent and public outlays decreased 0.1 percent in the latest month.
On a year-ago basis, overall construction outlays slipped to minus 13.0 percent in September from minus 12.5 percent the previous month.
Overall, housing continues a moderate recovery. However, now that housing is on an uptrend, the nonresidential and public sectors are still in recession and it may be some time before they turn up.
Inclusive of revisions, September outlays were close to expectations. But there were other reports out at the same time that clearly were positive. Pending home sales spiked and ISM manufacturing rose further. Equities advanced on these other reports while Treasury yields firmed.
On a year-ago basis, overall construction outlays slipped to minus 13.0 percent in September from minus 12.5 percent the previous month.
Overall, housing continues a moderate recovery. However, now that housing is on an uptrend, the nonresidential and public sectors are still in recession and it may be some time before they turn up.
Inclusive of revisions, September outlays were close to expectations. But there were other reports out at the same time that clearly were positive. Pending home sales spiked and ISM manufacturing rose further. Equities advanced on these other reports while Treasury yields firmed.
Week 9
This week we talked about Communicating in the Internet Age.
Modern technology has made communicating easire and less costly but has had the unintended side effect of information overload. Managers are challenged to improve the quality of their communication because it is a core process for everything they do.
Links in the communication process include sender, encoding, medium, decoding, receiver, and feedback. Noise would be any source of interference.
In this chapter we also saw that e-mail, supposedly a real time saver has quickly become a major time waster. Organizations need to create and enforce a clear e-mail policy to improve message quality and curb abuses. Cell phone users need to be discreet and courteous to avoid broadcasting privileged information and/or offending others. Videoconferencing restricts how people communicate televised conteacts are more mechanical than face-to-face meetings.
Although telecomunicating can reduce travel time and expense and can offer employment to nontraditional employees, it restricts normal social contact and face to face communication in the workplace.
This weeks subject was a good opportunity to see how communication is important in the workplace, specially in times of such diverse workforce.
Modern technology has made communicating easire and less costly but has had the unintended side effect of information overload. Managers are challenged to improve the quality of their communication because it is a core process for everything they do.
Links in the communication process include sender, encoding, medium, decoding, receiver, and feedback. Noise would be any source of interference.
In this chapter we also saw that e-mail, supposedly a real time saver has quickly become a major time waster. Organizations need to create and enforce a clear e-mail policy to improve message quality and curb abuses. Cell phone users need to be discreet and courteous to avoid broadcasting privileged information and/or offending others. Videoconferencing restricts how people communicate televised conteacts are more mechanical than face-to-face meetings.
Although telecomunicating can reduce travel time and expense and can offer employment to nontraditional employees, it restricts normal social contact and face to face communication in the workplace.
This weeks subject was a good opportunity to see how communication is important in the workplace, specially in times of such diverse workforce.
Wednesday, October 28, 2009
WEEK 8
This week the big topic was HUMAN RESOURCE MANAGEMENT.
Human resource management involves human resource acquisition, retention, and development. Four key humarn resource management activities necessarily linked to orfanizational strategy and structure are 1)human resource strategy, 2) recruitment and selection, 3) performance appraisal, and 4) training.
After an employee has joined the organization, part of the human resource management process involves dealing with human resource problems such as sexual harassment and alcohol and drug abuse.
Today, training is a huge business in itself. Unfortunately, most training dollars are being spent where they are least needed: to train well-educated mangers and professionals.
This weel we also went over a case that talks about the action taken by UPS in order to determine whether their supervisors were using enough objectivity during employee reviews. UPS supervisors before, used pencil and paper while doing reviews, and then had to rewrite then to the computer once back at the office. In order to make a more efficient way to do these reviews, UPS decide to deploy Personal Digital Assistants (PDAs). Now, with the new system, UPS supervisors can do the employee reviews more effectively and efficiently. In addition, to eliminating paperwork and improving accountability for UPS advisors, PDAs are also very helpful for new drivers who might need additional safety training.
In this case, it was very clear to see how technology is changing everything around the world today. This new system of appraisal I thought to very effective. I thought this will extremely beneficial to ensure employee performance. For a big company like UPS, it’s not worth to keep people that don’t do their jobs the way it should be done. I have received many packages through UPS and I think their services are very good, things arrive on time, drivers make sure they have the name of the person who received the package, and they confirm delivery right at your door. At their website you can track your package whenever you send one out, or are to receive one, in addition to many other resources online.
Human resource management involves human resource acquisition, retention, and development. Four key humarn resource management activities necessarily linked to orfanizational strategy and structure are 1)human resource strategy, 2) recruitment and selection, 3) performance appraisal, and 4) training.
After an employee has joined the organization, part of the human resource management process involves dealing with human resource problems such as sexual harassment and alcohol and drug abuse.
Today, training is a huge business in itself. Unfortunately, most training dollars are being spent where they are least needed: to train well-educated mangers and professionals.
This weel we also went over a case that talks about the action taken by UPS in order to determine whether their supervisors were using enough objectivity during employee reviews. UPS supervisors before, used pencil and paper while doing reviews, and then had to rewrite then to the computer once back at the office. In order to make a more efficient way to do these reviews, UPS decide to deploy Personal Digital Assistants (PDAs). Now, with the new system, UPS supervisors can do the employee reviews more effectively and efficiently. In addition, to eliminating paperwork and improving accountability for UPS advisors, PDAs are also very helpful for new drivers who might need additional safety training.
In this case, it was very clear to see how technology is changing everything around the world today. This new system of appraisal I thought to very effective. I thought this will extremely beneficial to ensure employee performance. For a big company like UPS, it’s not worth to keep people that don’t do their jobs the way it should be done. I have received many packages through UPS and I think their services are very good, things arrive on time, drivers make sure they have the name of the person who received the package, and they confirm delivery right at your door. At their website you can track your package whenever you send one out, or are to receive one, in addition to many other resources online.
Sunday, October 25, 2009
Week 7
During week 7 we discussed different aspects of an organizations's structure. Aspects such as culture, characteristics, design and effectiveness.
Oraganizations need to be understood and intelligently managed because they are na ever-present feature of modern life. Whatever their purpose, all organizations exhibit four characterisitics: 1) COORDINATION OF EFFORT; 2) COMMON GOAL AND PURPOSE; 3)DIVISION OF LABOR, AND 4) HIERARCHY OF AUTHORITY. If even one of these characterisitscs is absent, na organization does not exist.
Line managers are in the formal chain of command and have decision making authority, whereas staff personnel provide advice and support.
Many factors, with global competition leading the way, are forcing management to reshapethe traditional pryramid bureaucracy. These new organizations are characterized by fewer layers, extrensive use of teams, manageably small subunits. Three emerging organizational configurations are the hourglass orgzanization, the cluster organization, and the virtual.
We also discussed a case about Toyota.
The case started with Toyota’s first exports to the U.S. which was two tiny sedans that left the port of Yokohama in August 1957. Then in 1960, Toyota realized it had made a mistake and pulled the Toyopet Crown off the market. However, Toyota came back a few years later with a better car and gone from strength to strength ever since. Today it is the world’s most profitable car automaker. It has a 15% market share in the U.S. Toyota has managed to survive discriminatory taxes, imports restraints, and the occasional xenophobic actions. Toyota has never been a style leader, but it discerned want people really needed. Toyota today employs 34,600 Americans directly and 400,000 more indirectly at suppliers and dealers. Every year they buy $28.5 billion in parts and materials from the U.S. suppliers. In a sense Toyota can look as American as apple pie, but when it comes down to the way it is managed they are a little different. Everything that is done here in the U.S. is closely watched by Japanese coordinators that reports to the headquarters in Japan.
The case was interesting, my knowledge about Toyota wasn’t great, but from the word of mouth I only hear good things about them. It was nice to have the opportunity to learn a little about their history and the steps they took to become one of the top car auto makers. I found it very effective the way they handle their business by having Japanese coordinators watching everything that goes on here and reporting it to headquarters. It’s a way to control the business better and make the necessary moves to change anything.
Friday, October 23, 2009
Jobless claims(Update)
Initial jobless claims edged higher in the Oct. 17 week, up 11,000 to a higher-than-expected level of 531,000 (prior week revised higher from 514,000). But the four-week average continues to move lower, down for the seventh week in a row to 532,250 for a decrease of about 20,000 from month-ago levels, a decrease that points to improvement for the October employment report.Continuing claims, down 98,000 in data for the Oct. 10 week to 5.923 million, are roughly 100,000 below month-ago levels. But the indication from this reading is difficult to assess, reflecting an uncertain combination of new hiring together with the expiration of benefits. Those receiving extended benefits fell more than 16,000 to nearly 465,000 while those receiving emergency compensation rose nearly 41,000 to 3.391 million (data for these readings is for the Oct. 3 week).There was very little initial reaction to today's results though commodities and stocks did tick lower. Next reading on the jobs market will be Tuesday's consumer confidence report from the Conference Board which includes assessments of current conditions in the labor market along with consumer assessments of future conditions.
Wednesday, October 14, 2009
Week 5
The main subject this wee was "STRATEGIC MANAGEMENT". We reviewed different business strategies such as the Porter's Generic Competitive Strategies which includes Cost leadership, differentiation, cost focus, and focused strategy; to see an example of mangement strategizing we analised REI an how they decided to take action to be ahead of the competition. The changed their business strategy from product based to market based.
We also reviewed some business strategies for the internet, the strategic management process which includes formulation of grand strategy, formulation of strategic plans, inplementation od strategic plans and strategic control.
Lastly we discussed Forecasting which includes event outcomes, event timing, and time series forecasting, which helps strategic planners anticipate and prepare for future environmental circumstances. Popular forecasting techiniques among today's managers include informed judment, scenarion analysis, surveys, and trend analysis. However, each technique has it's own limitations, so forecasts need to be cross-checked against one another.
We also reviewed some business strategies for the internet, the strategic management process which includes formulation of grand strategy, formulation of strategic plans, inplementation od strategic plans and strategic control.
Lastly we discussed Forecasting which includes event outcomes, event timing, and time series forecasting, which helps strategic planners anticipate and prepare for future environmental circumstances. Popular forecasting techiniques among today's managers include informed judment, scenarion analysis, surveys, and trend analysis. However, each technique has it's own limitations, so forecasts need to be cross-checked against one another.
Industrial Production's current situation
Industrial production in August increased a hefty 0.8 percent, following a revised 1.0 percent boost in July. For the latest month, the manufacturing component rose 0.6 percent after surging 1.4 percent in July. A big boost came from restocking auto inventories as the motor vehicle component jumped a monthly 5.5 percent in August after ramping up an enormous 20.1 percent the month before. But the really good news is that overall production excluding motor vehicles was still up a healthy 0.6 percent for August—for manufacturing ex-autos was up 0.4 percent. Overall capacity utilization in August improved to 69.6 percent in August from 69.0 percent the month before. Looking ahead, industrial production could decline in September as auto assemblies are likely to ease. Also, production hours in manufacturing fell 0.5 percent for the month. Nonetheless, the consensus anticipates a modest gain for industrial production.
Wednesday, October 7, 2009
Jobless Claims
nitial jobless claims for the week ending September 26 rose 17,000 to 551,000 and the prior week was revised 4,000 higher to 534,000. But the four-week average dipped nearly 25,000 to 548,000, reflecting solid improvement from prior weeks.
International Trade
The U.S. international trade gap in July worsened significantly and oil had only a little to do with it. The overall U.S. trade gap worsened to $32.0 billion from a revised $27.5 billion gap in June. But in the detail, there is good news for U.S. manufacturers as exports posted a gain of 2.2 percent after a 2.1 percent increase in June. However, imports jumped 4.7 percent after a 2.5 percent rise in June. The worsening in the trade deficit was due to a wider nonpetroleum goods deficit which grew to $23.5 billion from $19.8 billion the previous month. Import gains were widespread but led by autos and consumer goods. Meanwhile, the petroleum gap grew to $17.9 billion from $17.3 billion the previous month. Looking ahead to August, don't look for help for the trade gap from lower oil prices. Although crude prices fell notably for the month-that is on a not seasonally adjusted basis. Seasonally adjusted, crude oil prices rose about 1.7 percent.
Tuesday, October 6, 2009
Week 4
A lot of the subect this week were "The Basics of Planning and Project Management". We Discussed some essentials of planning such as the types of planning, the setting of objectives, a company's priorities establishment and the control cycle. We were also introduced to some planning tools such as Flow Chats, Gantt Charts, and Pert Networks which seem to be very effective planning tools.
"Organizations that fail to plan, plan to fail"
"Organizations that fail to plan, plan to fail"
We created a simple flow chart just to see how it worked, and i thought it was a cool tool to use, possibly fun to work with too. Here goes a picture of how it looks alike.
Sunday, September 27, 2009
WEEK 3
In week 3 we discussed Management's Social and Ethical Responsibilities.
We talked about some social responsible companies.
Starbucks for example is one of the most talked about companies when social responsibility is the subject. It has great benefits for its employee partners, including health-care coverage. It's also been very aware of the needs of small coffee farmers though its CAFE initiative, and it tries to do business in an environmentally aware manner, through actions such as reducing waste with recycled paper sleves instead of double-cupping.
We also went into talking about the ethical dimensions of management, the general ethical principles, and how firms are encouraging ethical conduct in society today. The ten general ethical principles that consciously and unconsciously guide behavior when ethical questions arise are self interests, personal virtues, religious injunctions, government requirements, utilitarian beliefs, universal rules, individual rights, economic efficiency, distribute justice, and contributive liberty.
We also did some research on the Sarbanes-Oxley Act that was enacted in 2002 due to several corporate scandals. This act was enacted to keep away large businesses from financial deceptions and misleading their investors and shareholders.
We talked about some social responsible companies.
Starbucks for example is one of the most talked about companies when social responsibility is the subject. It has great benefits for its employee partners, including health-care coverage. It's also been very aware of the needs of small coffee farmers though its CAFE initiative, and it tries to do business in an environmentally aware manner, through actions such as reducing waste with recycled paper sleves instead of double-cupping.
We also went into talking about the ethical dimensions of management, the general ethical principles, and how firms are encouraging ethical conduct in society today. The ten general ethical principles that consciously and unconsciously guide behavior when ethical questions arise are self interests, personal virtues, religious injunctions, government requirements, utilitarian beliefs, universal rules, individual rights, economic efficiency, distribute justice, and contributive liberty.
We also did some research on the Sarbanes-Oxley Act that was enacted in 2002 due to several corporate scandals. This act was enacted to keep away large businesses from financial deceptions and misleading their investors and shareholders.
Sunday, September 20, 2009
Week 2
During week 2 we discussed some factors of the global economy such as the "The Changing Environment of Management(Diversity, Global Economy, and Technology)" in addition "International Management and Cross-Cultural Competence". In the mist of globalization managers are having to adapt to lot of new issues such as diversity in the workplace and the wide competition from foreign companies and technology. Going on foreign assigments is another issue that some managers face today as they have to move to different countries to expand business for it's current employer. The book explains a little of how that works and how these managers and their families go through cross-cultural training to learn about the culture and people of the specific location they are moving to.
Here is a video of Communication Between Cultures showing some differences and behaviour between eastern and western cultures.
http://www.youtube.com/watch?v=2EwsNKkVPog&NR=1
Here is a video of Communication Between Cultures showing some differences and behaviour between eastern and western cultures.
http://www.youtube.com/watch?v=2EwsNKkVPog&NR=1
Friday, September 11, 2009
Leaders vs. Managers….. Are they really different?
"The debate between leadership and management has been raging for a number of years. I feel that the distinction between management a leadership is useful one, in that it help us gain a better understanding of leadership and causes us to reflect on our own behaviour, asking ourselves, "Are we really leading?" So what are the differences between managers and leaders?
"There is a profound difference between management and leadership, and both are important. To manage means to bring about, to accomplish, to have charge of or responsibility for, to conduct. Leading is influencing, guiding in a direction, course, action, opinion. The distinction is crucial" – Warren Bennis
Warren Bennis, in his book "On Becoming a Leader" he describes his view of the differences between managers and leaders as follows:
_The manager administers; the leader innovates.
_The manager is a copy; the leader is an original.
_The manager maintains; the leader develops.
_The manager focuses on systems and structure; the leader focuses on people.
_The manager relies on control; the leader inspires trust.
_The manager accepts reality; the leader investigates it.
_The manager has a short-range view; the leader has a long-range perspective.
_The manager asks how and when; the leader asks what and why.
_The manager has his or her eye always on the bottom line; the leader has his or her eye on the horizon.
_The manager imitates; the leader originates.
_The manager accepts the status quo; the leader challenges it.
_The manager is the classic good soldier; the leader is his or her own person.
_The manager does things right; the leader does the right thing."
"There is a profound difference between management and leadership, and both are important. To manage means to bring about, to accomplish, to have charge of or responsibility for, to conduct. Leading is influencing, guiding in a direction, course, action, opinion. The distinction is crucial" – Warren Bennis
Warren Bennis, in his book "On Becoming a Leader" he describes his view of the differences between managers and leaders as follows:
_The manager administers; the leader innovates.
_The manager is a copy; the leader is an original.
_The manager maintains; the leader develops.
_The manager focuses on systems and structure; the leader focuses on people.
_The manager relies on control; the leader inspires trust.
_The manager accepts reality; the leader investigates it.
_The manager has a short-range view; the leader has a long-range perspective.
_The manager asks how and when; the leader asks what and why.
_The manager has his or her eye always on the bottom line; the leader has his or her eye on the horizon.
_The manager imitates; the leader originates.
_The manager accepts the status quo; the leader challenges it.
_The manager is the classic good soldier; the leader is his or her own person.
_The manager does things right; the leader does the right thing."
by George Ambler
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