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In the Trenches: w with Where’s TED? Who is Ted? How did TED get started? At www.TED.com you will find presentations by the best and most innovative thinkers on the planet. So, why is this great resource spreading so quickly and where did it come from? We went on a journey to find Ted and found… well, a whole lot more. TED is a small nonprofit dedicated to “Ideas worth spreading.” It began as a conference bringing together people from three worlds: technology, entertainment, design [TED]. Today, its content is available to a broad global audience. Along with annual conferences in Long Beach, CA, and Oxford UK; TED includes the award- winning TEDTalks video site with a array of presentations of groundbreaking ideas and performances in tech, entertainment, design, business, arts, culture, science and global issues; as well as the TED Prize, which grants three individuals $100,000 annually plus “one wish to change the world” (1). If TED were a person, he would be several people: Richard Wurman and Harry Marks created the TED conference in 1984. Wurman, an architect and graphic designer, is considered a pioneer in the practice of making information more understandable. In 1976, he coined the phrase “information architect” reacting to a society that creates massive amounts of information with little care or order (2). Wurman left TED in 2002. The event is now hosted by Chris Anderson (3). VIDEO LINK: 1:20 (4) Anderson was born in a remote village in Pakistan, where his father worked as a missionary eye surgeon. He graduated from Oxford University with a degree in philosophy, then trained as a journalist. After becoming an editor at one of the UK's early computer magazines, he launched his own magazine in 1985. Its success led to his company ‘Future Publishing,’ which expanded to the US in 1994 [publishing ‘Business 2.0’, and the popular games website IGN] (5). With his combined companies having a market capitalization above $2 billion at one point (6), his success allowed him to create a private nonprofit, the Sapling Foundation, which hoped to find new ways of tackling tough global issues by leveraging media, technology, entrepreneurship, and – ideas. Sapling acquired the TED Conference in 2001 and Anderson left his businesses to focus on growing TED, becoming the Curator of the TED Conference in 2002. VIDEO LINK: 12:52 (7) [please watch this video first for appropriateness of language @ 5:45] Try This: Have students showcase one of TED’s videos as part of a presentation to the class that explains why they feel this idea is significant. This could be part of a class topic, goals at the end of a semester, or connecting ideas and personal backgrounds at the beginning of a new one. December 2009 Vol 1 – Issue 9 This newsletter is for all instructors using one of McGraw-Hill’s six management textbooks. The purpose of this newsletter is to provide you with the tools and resources necessary to stay on the cutting-edge in the classroom. Chief Editor Steven H. Cady, Ph.D. Bowling Green State University Editor C. Theodor Stiegler Executive Marketing Manager McGraw- Hill/Irwin Anke Weekes Table of Contents: In the Trenches 1 Hot Topics 2 Research 5 Interview 6 Tips 9 Executive Summary 10

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In the Trenches: w

wiitthh  

Where’s TED? Who is Ted? How did TED get started? At www.TED.com you will find presentations by the best and most innovative thinkers on the planet. So, why is this great resource spreading so quickly and where did it come from? We went on a journey to find Ted and found… well, a whole lot more. TED is a small nonprofit dedicated to “Ideas worth spreading.” It began as a conference bringing together people from three worlds: technology, entertainment, design [TED]. Today, its content is available to a broad global audience. Along with annual conferences in Long Beach, CA, and Oxford UK; TED includes the award-winning TEDTalks video site with a array of presentations of groundbreaking ideas and performances in tech, entertainment, design, business, arts, culture, science and global issues; as well as the TED Prize, which grants three individuals $100,000 annually plus “one wish to change the world” (1). If TED were a person, he would be several people: Richard Wurman and Harry Marks created the TED conference in 1984. Wurman, an architect and graphic designer, is considered a pioneer in the practice of making information more understandable. In 1976, he coined the phrase “information architect” reacting to a society that creates massive amounts of information with little care or order (2). Wurman left TED in 2002. The event is now hosted by Chris Anderson (3).

VIDEO LINK: 1:20 (4) Anderson was born in a remote village in Pakistan, where his father worked as a missionary eye surgeon. He graduated from Oxford University with a degree in philosophy, then trained as a journalist. After becoming an editor at one of the UK's early computer magazines, he launched his own magazine in 1985. Its success led to his company ‘Future Publishing,’ which expanded to the US in 1994 [publishing ‘Business 2.0’, and the popular games website IGN] (5). With his combined companies having a market capitalization above $2 billion at one point (6), his success allowed him to create a private nonprofit, the Sapling Foundation, which hoped to find new ways of tackling tough global issues by leveraging media, technology, entrepreneurship, and – ideas. Sapling acquired the TED Conference in 2001 and Anderson left his businesses to focus on growing TED, becoming the Curator of the TED Conference in 2002.

VID

EO LINK: 12:52 (7) [please watch this video first for appropriateness of language @ 5:45]

→ Try This: Have students showcase one of TED’s videos as part of a presentation to the class that explains why they feel this idea is significant. This could be part of a class topic, goals at the end of a semester, or connecting ideas and personal backgrounds at the beginning of a new one.

December 2009

Vol 1 – Issue 9

This newsletter is for all instructors using one of McGraw-Hill’s six management textbooks. The purpose of this newsletter is to provide you with the tools and resources necessary to stay on the cutting-edge in the classroom. C

hief Editor Steven H. Cady, Ph.D. Bowling Green State University Editor

C. Theodor Stiegler Executive Marketing Manager McGraw-Hill/Irwin

Anke Weekes Table of Contents: In the Trenches 1

Hot Topics 2

Research 5

Interview 6

Tips 9

Executive Summary 10

Principles of Management: Newsletter for Educators

Page 2

HHoott TTooppiiccss

Current Events  Can education change Saudi-Arabia? (8) From the NY TIMES Saudi Arabia’s monarch, King Abdullah, recently allocated about $10 billion to endow the King Abdullah University of Science and Technology on the Red Sea. The stated goal is to take a country that consistently ranks among the poorest performing nations in education and, with all the brain power and high-tech equipment oil money can buy, build a world-class research center and university. However, there is a less discussed, (yet no less consequential) objective: Can the university help a tradition-bound society become more open to new ideas? Can it help Saudi Arabia address the kind of homegrown extremism that has spawned terrorism?

 

Constantly choosing the lesser of two evils is still choosing evil. 

Jerry Garcia 

→ Can education change society? How is college influencing your views on your profession? How does this happen? How long does it take? Political Bent Affects How We View Skin Tone (9) From NPR A new study suggests that political views may affect how we perceive President Obama's skin tone, with liberals tending to "lighten" his skin and conservatives tending to "darken" it. "Our beliefs, … can really have pretty profound effects on how we see the world," says Eugene Caruso, a researcher at the University of Chicago's Booth School of Business. "Our data suggest that people's beliefs affect how light or dark they perceive someone to be." Caruso and his colleagues took several photos of then-candidate Obama and digitally manipulated them to alter the areas of exposed skin. ". . . We isolated the head and the hands of Obama and altered the skin tone to make it relatively lighter in tone or relatively darker in tone," Caruso says. The research team then showed these altered photos, as well as the unaltered ones, one at a time to undergraduate students and asked them to rate them in terms of how representative they thought each photo was of the candidate. They researchers also questioned the students about their political views. Liberal participants were most likely to rate a lightened photo of Obama as being most representative of him, while conservatives were most likely to say that about a darkened photo, according to their findings, published in a report in the Proceedings of the National Academy of Sciences.

AUDIO for the NPR Story: 3:29 (10) → If skin tone affects how we view our political environment, how might it affect a manager’s perception of colleagues and subordinates?

Principles of Management: Newsletter for Educators

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HHoott TTooppiiccss ccoonnttiinnuueedd .. .. .. Twenty Years later: A first hand account of a December visit to West Germany. By C. Theodor Stiegler, Editor.

VIDEO LINK: 5:57 (11)

I was born in Berlin-Weissensee in the late 70s, behind the iron curtain — although, from where I was standing – from afar – it looked more like a grey concrete curtain, with barbed wire. Today I live in Bowling Green, Ohio. Twenty years ago, had someone told me I would ever step foot outside the GDR, forget about coming to, living in, being married to a citizen of – the US, I would have told them to leave me alone with their crazy utopian talk (I liked using big words as a pre-teen).

I remember coming home on November 10th 1989, the day after the opening of the boarder crossings in Berlin overnight. We lived in Greifswald in Northern East Germany at the time, and news was sometimes slow to arrive. My father told me, “Die Mauer is weg!” [“The wall is gone!”]. My response? “That is the stupidest joke you have told in a long time!” I did not believe him.

VIDEO LINK: 5:55 (12)

family.

While I was just an 11-year old boy when the Berlin wall fell, I remember going west to Hamburg for the first time that December of 1989 – a trip I had believed I’d never make – ever. As a minister’s son, travel outside the GDR had not been an option. It was also clear I would

not be able to attend a university unless I wanted to study theology or church music. Any philosophical, religious and political conversations were conceived of only within the company of the most trusted That December, we were still waiting for the Soviets to decide they should put an end to the shenanigans and roll out the tanks and close up the border. Would we be able to get back home? That’s what most East-Germans wanted – to be able to travel, but to then go back home. Gorbatshov had decided not to intervene when East Germany decided to open its borders. However, this decision had been made in the face of opposition from high-ranking officials that touted him as weak. The “ifs” and “hows” are sometimes still overwhelming to me. I remember running with my brother, from one car dealership to the next on a busy street in Hamburg, collecting catalogs for car models we had always admired from afar. . . “Westautos” we called them. We bought toys we had seen on western television, toys we had always known we would never actually own. I remember seeing a beggar for the first time. It literally gave me a heartache. Talk about culture shock. → Now, two decades later – I am amazed how much of who I am, is informed by that first decade of my life along with the big change at the beginning of the second one. I wonder: If I don’t ask my colleagues, my students, my teachers where they are coming from – can I really understand where they are coming from? How can knowing where our co-workers and teammates come from help us work better together? What are some ways we can ask and get to know each other in work settings? How do political and economic systems affect one’s career and life decisions? How does it affect relationships personally, professionally and economically? What similar experiences and surprises in new cultures have student’s had?

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HHoott TTooppiiccss ccoonnttiinnuueedd .. .. .. Movies, Music, and Television MOVIES: New Moon – New Sales records. (13) TRAILER: 2:20 (14)

New Moon, the second installment in the popular “Twilight” series, brought in more than $140-million in ticket sales on its first weekend – the third biggest opening on record. The audience is overwhelmingly female. Movie execs have long marketed to men, with “The dark knight” and “Spiderman 3” the only films to outperform “New moon” (15). With $50 million production, “New Moon” is cheaper and more profitable than either one of the action hero films. A small studio took a gamble and went against conventional business trend, aiming this film at a market segment not thought to be able to drive the box office. → Get your students to be futurists for the moment. How do leaders innovate new solutions or change strategic direction? What does it take for a leader to challenge conventional wisdom? What are some trends that students will have to face in the future in their professions as leaders not addressed today? TV: Oprah to call it quits. (16)

Oprah Winfrey has decided to hang it up – at least for her daily talk show – the most successful talk show in syndication, reaching about 7 million viewers a day. She is making room for endeavors into her own cable channel OWN. Reports indicate that Ms. Winfrey told her staffers that she will not transfer the show to cable, but is expected to produce new programs for OWN, and may appear on some of them. → Meteorologists reference the Coriolis Effect – a small rotational force that can affect major weather patterns, and the Butterfly Effect – how a butterfly’s wing-flap in China could have the potential to set off a storm half-way across the world. How might Oprah’s departure from day-time television affect cultural expectations and marketing toward women? Or, are such suggestions just media hype (17)? What about Oprah’s career choices? While she is reportedly staying in media, she is leaving at the heights of popularity and success. What measures/ values may have influenced this career move? Should students considerer a new major even when they are successful in their current area of study? With job and career changes being the norm rather than the exception (18), what are the long-term implications for strategic planning and leading an organization?

→ Check out the ‘Did you know?’ videos on YouTube for fascinating statistics on the changing global business environment. (19)

MUSIC: Vijay Iyer's Historicity. (20)

Historicity is a recoding that may offer more than musical intrigue. Historicism refers to philosophical theories that include these claims: (a) There is an organic succession of developments, of which (b) local conditions and peculiarities influence the results in a decisive way (21). In considering this concept for his music, “It's a conversation between us and the original creators. Or you could also see it as a collision, in a way," Iyer says, laughing. "We're bringing something that I imagine to be quite different from its origins.”

AUDIO for the track “Smokestack” from Historicity: 9:02 (22)

→ What about efforts in management? How can leaders make managerial processes organic – while influenced by “local conditions and peculiarities.” What are the organic components of management practice? Which local peculiarities are most significant in a particular case or situation?

Principles of Management: Newsletter for Educators

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RReesseeaarrcchh && TThheeoorryy

lationship between mistreatment and affective outcomes.

The following are adapted excerpts from research and theoretical reviews that relate to course design and, we hope, are useful for your lectures. Emotional anguish at work: The mediating role of perceived rejection on workgroup mistreatment and affective outcomes. Penhaligon, Nikki L.; Louis, Winnifred R.; Restubog, Simon Lloyd D. From the Journal of Occupational Health Psychology (23)

The authors of this study investigate mistreatment directed toward an organizational member from fellow workgroup members. The authors propose that mistreatment by the workgroup would contribute to feelings of rejection, over and above mistreatment by the supervisor. In addition, the authors tested the mediating role of perceived rejection between workgroup mistreatment and affective outcomes [such as depression and organization-based self-esteem]. Part-time working participants took part in the study, which

required them to complete a questionnaire on workplace behaviors. Results indicated that workgroup mistreatment contributed additional variance to perceived rejection over and above supervisory mistreatment when predicting depression and organization-based self-esteem. The results also indicated that perceived rejection mediates the re → When creating group projects, consider the fact that the acceptance of peers in a study group, for example, is potentially more significant to a student’s success in your classroom than their ability to gain acceptance and approval from you – the professor. Intergroup trust and reciprocity in strategic interactions: Effects of group decision-making mechanisms. Song, Fei. From: Organizational Behavior and Human Decision Processes (24) This research examines the impact of the consensus-making mechanism [members reach a common decision via an intra-group discussion] on intergroup trust and reciprocity in a strategic setting. Data from a trust game generated the following results: 1) Compared to individual decision-makers, consensus groups exhibited (a) lower psychological trust, (b) higher behavioral trust, and – after controlling for psychological trust, (c) lower reciprocity. 2) Compared to decisions made by group-representatives who are responsible for unilateral decisions on behalf of their groups, group consensus decisions were more trusting but less reciprocating. Thus, the specific decision-making mechanism adopted by groups in a strategic interaction may profoundly change the nature and the interplay of the interaction. Lastly, results show that the level of behavioral trust is driven by reciprocity expectations, while the level of reciprocity behavior, measured as a proportion of the trust received, does not change systematically with the level of trust experienced. → Explore leadership and decision making by assigning groups within your classroom a problem, but present each with a different decision-making structure (consensus group/ single group-leader / group-representatives / . . . ). Reveal the results of this study to trigger discussion, and review whether your test cases replicate the findings.

Principles of Management: Newsletter for Educators

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Thought Leader Interview

with Don Tapscott from an interview with Steve Cady (25) Don Tapscott is a leading authority on business strategy, with emphasis on how information technology changes business, government, and society. He is the author or co-author of a number of widely read books, including “Wikinomics,” which was the best selling management book in the United States in 2007. He is Chairman of nGenera Insight, a global business innovation company. Don is also an adjunct Professor at the J. L. Rotman School of Business at the University of Toronto and an accomplished musician with a band that has charitable work written on its banner: www.meninsuitsmusic.com. (26) 1. How did you come to do what you do? Why do you stay? In September 1978 I joined Bell Northern Research in Toronto, and spent the next three years moving through a series of progressively responsible management positions overseeing the development and implementation of office automation strategies for the company. Even back then, I found the possibilities offered by networking to be almost unlimited, and my work has focused on networking ever since. I worked with a team of technologists and social scientists whose task it was to understand what was then called “The Office of the Future.” Our group was trying to understand how multi-function workstations connected to a vast network of networks would change the nature of knowledge work and the design of organizations. As part of my job I traveled around the world trying to meet anyone who might know something about how emerging technologies would impact business. I was fortunate enough to collaborate with some of the pioneers of the digital age such as Stanford Research Institute’s Douglas Englebart. I’ll never forget him showing me his “augmented knowledge workshop” complete with hypertext, collaboration tools; and a strange device he called a “mouse.” Another, Jim Bair, convinced me over a period of many months, that the killer application for the future of computing was not “Information Management” as it was called back then, or for that matter computing at all – but rather communications. I also remember talking to Howard Anderson who had founded The Yankee Group, a company that analyzed where the technology and technology industry was going. In the late 1970s at Bell, we had a pilot of 50 mangers and professionals (including our CEO) using workstations, which had similar functionality of today’s laptops – only we were using dumb terminals connected to mini-computers, in turn connected to low speed packet switching networks. From the experience I became convinced that collaborative computing would change the world. But when I wrote a book on the topic in 1981, in hindsight, predictably few people read it. Critics told me this idea of everyone using computers to communicate would never happen, giving the most bizarre of reasons – managers would never learn to type. No one could have predicted that not only would managers learn to type, but would type with their thumbs!

Principles of Management: Newsletter for Educators

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2. What is your favorite learning activity or experience?

Writing songs and playing in my band ‘Men in Suits,’ especially when my daughter Nicole is singing lead. 3. How does playing music enrich your life and your career?

Music is about creativity, innovation, teamwork, improvisation, and hard work. All these help my career. 4. Describe a “zinger” that unexpectedly challenged you in your teaching? How did you address it and what were the results? Everything about pedagogy is being challenged by a new generation of digital natives. In 1997, I wrote the book “Growing Up Digital.” The inspiration for that book came from watching my two children use complex technologies like computers, video games, and VCRs with seemingly no effort. By 1993, my son Alex, then 7 years old, played sophisticated games, typed class assignments on a Mac, and sent an e-mail to Santa Claus at Christmas. That same year, my 10-year-old daughter Nicole figured out how to communicate with friends on computer chat lines. She was always pushing the envelope on technology in our home, even more so than her brother. When the first browser, Mosaic, brought the World Wide Web onto the scene, they took to it like ducks to water, becoming more proficient surfers than either me or my wife Ana. When a new technology came into the house, we would often turn to the kids to figure it out. I thought they were prodigies. Then I noticed that all their friends were just as talented. So to find out what was going on, the company I founded, now called nGenera, launched a project to study the impact of the Internet on youth in an effort to understand this unique generation. I initially assembled a team to interview 300 young people aged 20 or under, and I spent a lot of time trying to understand my own kids and their friends, especially regarding how they interacted with technology and how that might be changing the ways in which they learned, played, communicated, and even thought. I came to the conclusion that the defining characteristic of an entire generation was that they were the first to be “growing up digital.” In the book of the same title, written between 1996 and 1997, I named them the Net Generation. Flash forward to today and they have Grown Up Digital – the title of my most recent book. I’m convinced that there is no more powerful force to change the universities than the students. 5. Tell us what you learned from the best practices of leaders and educators? What are your learning principles for success? Again, my interest is on collaboration and networking. Research shows that mutual exploration, group problem solving and collective meaning-making produces better learning outcomes and improves understanding overall. In one important study, Richard J. Light, of the Harvard Graduate School of Education, discovered that one of the strongest determinants of students’ success in higher education was their ability to form or participate in small study groups. Students who studied in groups were more engaged in their studies, were better prepared for class, and learned significantly more than students who worked on their own. It appears that when students become engaged, they take a greater interest and responsibility for their own learning. However, the web enables social learning in other ways. Interactive computer-based courseware can free up professors from lecturing, to spending more time to collaborate with students. We can now use computers to do what they do best — freeing humans to do what only humans can.

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Secondly, the web enables students to collaborate with others independent of time and geography. The printing press revolutionized the university by democratizing access to recorded knowledge. The web challenges the modern university by enabling access to virtually all knowledge stored on hard drives, but more importantly, access to the knowledge and capabilities contained in the crania of their fellow humans. Finally the web is a new mode of production for knowledge – and that changes just about everything regarding how the “content” of university courses is created. Students and scholars can collaborate on the production of knowledge that is the foundation of higher education. 6. Is there one learning principle you hold most dear, that you will always utilize? Is there one thing you will never do, no matter what, in education? Collaborative learning is the future. I write about this extensively in my upcoming book currently titled “Rebuilding the World.” I keep trying to lecture less – but it’s tough. Teacher focused models of learning are way easier than student focused models. 7. How do you see higher education courses changing over the next 5-10 years? Universities are losing their grip on higher learning, as the Internet inexorably becomes the dominant infrastructure for knowledge – both as a container and as a global platform for knowledge exchange between people. And a new generation of students requires a much different model of higher education. Many people have written about this topic. For a number of reasons the transformation of the university is not just a good idea — it is an imperative. Mounting evidence suggests that further delay could lead to dire consequences. It’s also a time of great opportunity. And there is a stream of proposals for change. Some say the web enables distance learning and the elimination of campuses. Others argue that we need more technology in higher education, or colleges should be opened up and be free to all. There are renewed calls to abolish tenure, and even to replace traditional departments with a new set of problem-focused disciplines. The trouble is that most of these ideas do not address the fundamental problems with the university or show a way forward. Rather, change is required in two vast and interwoven domains that permeate the deep structures and operating model of the university. The first is the value created for the main customers of the university, i.e. students. The second is the model of production for how this value is created. First, we need to toss out the old industrial model of pedagogy (of how learning is accomplished) and replace it with a new model called ‘collaborative learning.’ Secondly, we need an entirely new modus operandi for how the subject matter, course materials, texts, written and spoken word, and other media, i.e. the content of higher education is created. I believe that if the universities open up and embrace collaborative learning and collaborative knowledge production, they have a chance of surviving and even thriving in the networked, global economy. But initiatives to date are limited, and most of the bigger issues await resolution. 8. What are your hopes for a future of learning in higher education? We need to reinvent the university. For more see my upcoming cover story in the January/February 2010 Issue of EDUCAUSE Review at http://www.educause.edu/er.

Principles of Management: Newsletter for Educators

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TTiippss for wrapping up a course: Creating closure while ending on a good note (27 & 28)

The ending of a course is worthy of greater attention than it typically receives. Endless time and energy are expended on crafting beautiful syllabi complete with assignment descriptions, an outline of topics and readings, and due dates. We have thoroughly ritualized the start of a new semester, but, typically somewhere between weeks 11 and 14, what seemed like reasonable plans are regretfully sidelined and we launch into catch-up overdrive. It is a time of high stress for teachers and students. Consider that end-of-class activities can help:

- Summarize the course material/ review course goals and objectives. - Contribute to a sense of accomplishment. - Create the feeling that the class has found its culmination/ it is time to move on.

You might ask students to: Write ‘letters to successors’ to students enrolled in the course in the future, detailing what can be gained from the course as well as broader advice on being a successful student. Compile "Top 10" lists of the most important or significant studies or theories discussed in class. Allow the students to share their lists and argue about the rankings as they create these listings. You could also have students create service learning projects to anchor course endings. Consider that some class deliverables may be suitable for a wider public by creating a larger audience for student work. If students are producing new knowledge, are there others who might benefit from what your students have learned? You might set up a blog, electronic newsletter, or exhibit. Motivate students to keep a portfolio. Portfolios are commonly used in graphic design, film, writing, and education. Have students adapt this way of preserving progress and showcasing representative work. Lead your students to think about their papers/ projects as having a life beyond their immediate purpose. Crisp position papers can be used as writing samples for graduate school or professional applications. Suggest readings and resources for the future. On the last day of class, hand out a list of suggested readings from your own bookshelf, along with a brief commentary on why you’re recommending them. Keep the students’ background and abilities in mind when making these lists. Plan ahead at the beginning. Set aside time in the final class or two to reflect and connect knowledge learned through the entire course. Should you utilize end-of-class presentations to make this happen? Ten-minute presentations by everyone in class can be an exciting time for the student presenting, but they can be a bore fest for the rest of the class. Few things are more painful than sitting through numerous amateur PowerPoint presentations: Give students guidelines and resources for making effective presentations, show them by example, and reward creativity as well as content. Also, consider spacing the presentations so they don’t happen all at once. This makes it easier to thoughtfully integrate them into the readings or class content. It is important to provide closure academically and emotionally. To help your students remember the key concepts, the ideas reflected in carefully selected readings, and the work they did to earn their grades. The above Tips are an adapted integration of two sources authored by Tami J. Eggleston & Gabie E. Smith (27) and Margaret Walsh (28). Check them out, they provide additional helpful information.

Principles of Management: Newsletter for Educators

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Executive Summary  

The Concept of Capitalism A book by Bruce R. Scott Review adapted from a summary of the radio news story below (29) and an Amazon.com editorial review (30)

Listen to Bruce R. Scott’s interview on WBGU’s ‘here and now.’ (31)

Bruce R. Scott is Paul Whiton Cherington Professor of Business Administration, Emeritus, Harvard University. Scott has researched the French system of industrial planning and has taught at Harvard in executive education and MBA programs. He investigates the impact of public policy on the business environment. Research activities have included scenario planning activities at Royal Dutch/Shell, a scenario analysis of the Venezuelan economy (1983-85) and similar analyses of the prospects for transition in South Africa (1990-91), and for Luxembourg (1997). In 1991 Professor Scott was appointed by the U.S. Senate as one of its four representatives on the U.S. Competitiveness Policy Council (32). What is Capitalism? Markets and ‘the invisible hand’? Bruce R. Scott says we have been getting it disastrously wrong for a long time. Capitalism, as he defines it, is a form of governance, in which rules and rule-making are part of the system as much as the market. According to Scott, looking at it closely, it is really the visible hand of regulators and regulation that make capitalism what it is. Scott describes a single system of economic governance – capitalism – that prevails in the world today, both in theory and in practice. There is neither a standard definition of capitalism nor a theory of how it works. Moreover, the most common conception of capitalism is that of a one-level system governed by markets, i.e., supply and demand, where many socioeconomic externalities are ignored. The purpose of this book is to counter this conception, showing that capitalism is more than the markets. In fact, capitalism shares many parallels with everyday organized sports, in that both are indirect, three-level systems of governance where "freedom" is conditional on "playing by the rules." In organized sports, games (level 1) are shaped by official rules and monitored by referees (level 2), which are in turn regulated and revised by a governing organization (level 3) that oversees the sport as a whole. In capitalism, markets (level 1) are shaped by institutions and regulations and monitored by independent officials (level 2), which are in turn selected and shaped by a political authority (level 3) that oversees the system as a whole. As simple and obvious as this parallel with organized sports may seem, the underlying cause of much of the economic instability of the last 25 years, and specifically of the current crisis, has stemmed from not understanding capitalism in this way, i.e., as a three-level system of governance. Only by improving our understanding of capitalism can we create better institutions and implement better policymaking to not only fix the present crisis of our capitalist system but also avoid future ones. → Challenge students (possibly by assigning pro and con sides in a debate setting) to explore concepts of communism / planned economies in contrast to the pros and cons of the capitalist system.

Principles of Management: Newsletter for Educators

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Topics Bateman 8e Bateman M 1e Hill 1e Jones 6e Jones Ess 3e Kinicki 4e

In the Trenches

5,6,9,10, 12,14

5,6,7,15,17, 18 2,3,4,17,18 3,4,5,9,10,13 4,5,6,7,16,18 3,4,10,15

Current Events

2,3,4,8,9,12 2,3,7,12,15 2,3,4,6,10,17 2,3,5,8,13 3,4,5,6,7,13,17 3,7,8,11,15

Research 1,2,7,8,10, 11,12

1,3,10,11, 14,15

5,7,10,11,12,13,14,15,17

3,9,10,11 3,5,6,7,12,14, 15,16,17

7,9,11,12,13,14

Tips: 12 15 17 13 16 12,15

Executive Summary

2,3,9,14 2,3,5,18 2,4,9,15 4,8 4,6,7,11,17 3,4,14,16

This newsletter supports the following Principles of Management texts:

Hill, C. & McShane, S. (2008). Principles of Management (1st Ed.). New York, NY: McGraw-Hill/Irwin.

Bateman, T. & Snell, S. (2009). Management: Leading & Collaborating in the Competitive World (8th Ed.). New York, NY: McGraw-Hill/Irwin.

Bateman, T. & Snell, S. (2009). Management (1st Ed.). New York, NY: McGraw-Hill/Irwin.

Jones, G. & George, J. (2009). Contemporary Management (6th Ed.). New York, NY: McGraw-Hill/Irwin.

Kinicki, A. & Williams, B. (2009). Management: A Practical Introduction (4th Ed.). New York, NY: McGraw-Hill/Irwin.

Jones, G. & George, J. (2009). Essentials of Contemporary Management (3rd Ed.). New York, NY: McGraw-Hill/Irwin.

Please go to www.mhhe.com for a complete list of titles offered by McGraw-Hill/Irwin.

Principles of Management: Newsletter for Educators

Page 12

Works Cited

1. Website. TED “About TED” information page http://www.ted.com/pages/view/id/5 2. Website. Wikipedia page on Richard Wurman http://en.wikipedia.org/wiki/Richard_Saul_Wurman 3. Website. Wikipedia page on the TED conference http://en.wikipedia.org/wiki/TED_(conference) 4. Video. Chris Anderson introducing TED for CNN. http://www.cnn.com/video/data/2.0/video/living/2009/10/27/ted.chris.anderson.ted.html 5. Website. TED speaker Profile for Chris Anderson. http://www.ted.com/speakers/chris_anderson_ted.html 6. Website. Wikipedia page on Chris Anderson http://en.wikipedia.org/wiki/Chris_Anderson_(TED) 7. Video. Chris Anderson talking about his vision for TED http://www.ted.com/talks/lang/eng/chris_anderson_shares_his_vision_for_ted.html 8. Article. Michael Slackman (2009). A Saudi Gamble to See if Seeds of Change Will Grow. NY Times online. http://www.nytimes.com/2009/11/19/world/middleeast/19saudi.html 9. Radio Story. Nell Greenfieldboyce (2009) Study: Political Bent Affects How We View Skin Tone. All Things Considered – NPR. http://www.npr.org/templates/story/story.php?storyId=120691088 10. Audio for Radio story. Nell Greenfieldboyce (2009) Study: Political Bent Affects How We View Skin Tone. All Things Considered – NPR. http://www.npr.org/templates/player/mediaPlayer.html?action=1&t=1&islist=false&id=120691088&m=120710789 11. Video. Feature on the Berlin Wall Carsten Cumbrowski (www.Cumbrowski.com) (2008). http://www.youtube.com/watch?v=MM2qq5J5A1s 12. Video. Episode 4: The fall of the Berlin Wall. Rebecca Lovell, Francesca Panetta and Christian Bennett (2009). www.guardian.co.uk/world/video/2009/oct/22/fall-of-berlin-wall 13. Radio Story. Examining The Business Of 'New Moon' All Things Considered – NPR. http://www.npr.org/templates/story/story.php?storyId=120709884 14. Video. The Twilight Saga: New Moon Trailers from Yahoo Movies: http://movies.yahoo.com/movie/1810055802/trailer 15. Article. Ben Fritz (2009). 'New Moon' drives second-biggest weekend ever for movie industry. LA TIMES online.  http://latimesblogs.latimes.com/entertainmentnewsbuzz/2009/11/new-moon-drives-second-biggest-weekend-ever-for-movie-industry.html 16. Article Brian Stelter & Bill Carter (2009) Oprah Winfrey to End Her Talk Show. NY TIMES online. http://mediadecoder.blogs.nytimes.com/2009/11/19/oprah-winfrey-to-end-her-talk-show/ 17. Article. Rebecca Dana (2009) Oprah's Kremlinologist. The Daily Beast, found on George Mason University’s History News Network online. http://hnn.us/roundup/entries/120327.html 18. Website. Bureau of Labor Statistics. Frequently Asked Questions page. http://www.bls.gov/NLS/nlsfaqs.htm#anch41 19. Website. YouTube search listing for Did You Know? Video series. http://www.youtube.com/results?search_query=did+you+know%3F&search_type=&aq=f 20. Review. Josh Jackson (2009). Vijay Iyer Trio: Colliding With The Jazz Dialectic. NPR online. http://www.npr.org/templates/story/story.php?storyId=120504245 21. Website. Wikipedia page on ‘Historicism’ http://en.wikipedia.org/wiki/Historicism 22. Audio Link to listening example Vijay Iyer Trio ‘Smokestack’ http://www.npr.org/templates/player/mediaPlayer.html?action=1&t=1&islist=false&id=120504245&m=120461183 23. Emotional anguish at work: The mediating role of perceived rejection on workgroup mistreatment and affective outcomes. Penhaligon, Nikki L.; Louis, Winnifred R.; Restubog, Simon Lloyd D. Journal of Occupational Health Psychology Vol 14(1)2009 p.34-45 Educational Publishing Foundation, US 24. Intergroup trust and reciprocity in strategic interactions: Effects of group decision-making mechanisms. Song, Fei. Organizational Behavior and Human Decision Processes Vol 108(1)2009 p.164-173 Elsevier Science, Netherlands 25. Interview. Steve Cady (2009). Interview with Steven Don Tapscott 26. Website. Don Tapscott’s personal website http://dontapscott.com/contact-don/ 27. Article. Tami Eggleston & Gabie Smith (2002). Parting Ways: Ending Your Course. APS Observer Vol. 15, No. 3 found on http://www.psychologicalscience.org/teaching/tips/tips_0302.cfm 28. Margaret Walsh (2008). End Notes: Distinctive Ways to Wrap-Up a College Course. College of Charleston online. http://blogs.cofc.edu/adehhp/2009/11/09/some-ways-to-wrap-up-a-college-course 29. Summary of Radio Story. What is Capitalism? Featured on WBGU’s ‘here and now’ on 11/2/09 http://www.hereandnow.org/2009/11/rundown-113/#2 30. Website. Amazon.com Editorial Review of: The Concept of Capitalism. http://www.amazon.com/exec/obidos/ASIN/3642031099/wburorg-20  31. Audio Link to Bruce R. Scott’s interview on WBGU’s ‘here and now.’ http://www.hereandnow.org/media-player/?url=http://www.hereandnow.org/2009/11/rundown-113/&title=What%20is%20Capitalism?&segment=2&pubdate=2009-11-03 32. Website. Harvard Business school faculty page for Bruce R. Scott. http://drfd.hbs.edu/fit/public/facultyInfo.do?facInfo=bio&facEmId=bscott%40hbs.edu