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,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)? 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 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 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 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 professors 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 suggestions 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 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 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 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 divided 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 international 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,Business 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 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) 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 main 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 stockholder 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 a