Text 5

Read the text and describe the Normative Decision Model.

The Normative Decision Model

The Normative Decision Model was developed by Victor Vroom and his associates. It gives explanation to the appropriate level of worker involvement in the decision-making process.

The model also describes five decision-making styles, from autocratic to group styles. The autocratic style is one where managers make decisions independently and autonomously. The manager can also collect relevant information from others, involve individual co-workers, and consult with groups of workers before making decisions. Under the “group” style, managers allow their workers to solve problems. The appropriate decision-making style is dictated by characteristics of the situation – acceptance, quality, and time. Like tools, different decision-making style are appropriate for different types of problems and skilled managers know when and how to use each of them.

Text 6

Read the text and comment on Thomas Friedman’s three eras of globalization.

Three eras of globalization

In his book “The World Is Flat”, Thomas Friedman describes three eras of world trade. The first stage – Globalization 1 – occurred between the times of Columbus until around 1800. The moving force behind the trade was countries and governments. Global commerce and trade were conducted by and between countries.

Globalization 2 lasted from 1800 until 2000. The driving forces in this era were multinational companies. The invention of the steam engine and the railroad brought about the fall of transportation and communication costs. It also helped drive the expansion of companies and the distribution of their products into new and international markets.

Around the turn of this century, we entered the third stage – Globalization 3. In this era, the driving force is not countries or multinational organizations; it is individuals. Transactions occur between individuals and businesses that find each other through worldwide e-commerce websites. Amazon.com and eBay.com are two of the most popular retail destinations on the web.

Today’s information and communication technology allows individuals to collaborate and engage in global commerce and trade as never before.

Text 7

Read the text and name Steve Jobs’ contributions to the world of management, business and technology.

Steve Jobs

Ask several people to name what they think Steve Jobs’ biggest contribution has been, and you will get a variety of responses. Sure, he has brought us some amazing innovations, and millions of us own (or want to own) them. There’s the iPod, the iPad, and the i-everything else!

But when you get down to it, it really wasn’t Jobs who did it alone – it was his team. But Steve did do one thing that started a positive trend that will last for decades or longer. And that contribution is so big, so important, that by some divine guidance it was inserted into his name. Steve created jobs. And lots of them.

Steve Jobs built amazing teams. It is the fundamental component to entrepreneurial success, and when done perfectly, it is the component to grand economic success. Jobs is an entrepreneur through and through and he has built a company that has brought benefits to all consumers.

Steve’s own company grew from a startup to having over 7,000 employees by the time he left, the first go-around. When he returned to the company, he increased Apple to over 46,500 full-time employees.

These examples alone are enough to show how innovations have had a ripple effect, from those who work for him to those who have developed apps for his products – and are growing their own companies and fulfilling their own entrepreneurial dreams. There are countless people and businesses making a profit from Jobs’ creations, including those selling sleeves, holders, accessories, stickers, etc. Apple products create a wide variety of markets for those selling add-ons for those products.

Jobs has done something that most entrepreneurs can only dream of achieving. The goal is to create something that will touch a lot of people and put them to work, either directly or indirectly. That’s what he has done, thus giving work to many people and creating an empire.

The result of what he has accomplished is a company’s P&L that is now bigger than the economy of many countries. It is hard to find a lot of people downing Apple, because it is touching so many lives in a positive way. Either people are reaping great rewards by making money from the company or from ancillary products, or they are using the products themselves, or both. Jobs has created a jobs ripple effect. That is nothing short of amazing. Thanks, Steve!

(From: www.openforum.com)