U.S. Global Business

8/11/2019 U.S. Global Business

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STEVEN L. ROSEN

Global Business English

The Main Features of American

Business Culture and Customs


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GLOBAL- BUT NATIONS ARE STILLIMPORTANT

Even though we live in globalized economy, nationsand cultures are very different:

American, Japanese, Russian, Chinese, Frenchbusinesses are all quite different:

management systems and governance

national laws and regulations about commerce

business culture


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THE (GLOBAL) ENTREPRENEUR

Important idea in (global) businessvery American

Entrepreneurship


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Especially America

The U.S.A. has a long business

history with many great

entrepreneurs.


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Thomas Edison


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Henry Ford


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BUSINESS LEADERSHIP: THE ENTREPRENEUR

Entrepreneurial spirit---

What is it???


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WHAT IS AN ENTREPRENEUR?

Avisionary:hasinnovativeideas

Takesrisks(riskshisorherowncapital)

Guts/courage/motivationsnevergiveup


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Who is he?


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University of Texas, Austin student

As a young man at the

University of Texas hedesigned a high quality PC


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Michael Dell


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He successfully used global supply-

chains to build one of the mostsuccessful companies in America.

Supply chain-

In 1984, Dell's first full year inbusiness, he had $6 million insales.


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Its all about cuttingcosts.

Why are global supply chainsimportant???


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KEY POINT: MAIN ECONOMIC

FEATURE OF GLOBALIZED

ECONOMY

CUTTING COSTS


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WHO IS THIS WOMAN?


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She started a new type ofcompany: based on fair trade and

sustainability.


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A new type of global business

Green business

Fair trade (trade not aid)

Corporate social responsibility (CSR)


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STARTED IN THE UK, BUT AMERICAN

BUSINESS SCHOOLS STUDY THE BODY

SHOP

1980s under the brand name Body

Shop

Grew 50% annually

Stock grew 500% on the London StockExchange


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A new approach to business in America?/stakeholder

The old style American

corporation: profits overpeople

Concerned only with

stock price, stockholderprofits


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New business model in the USA

New approach for modern

globalized business:stakeholder profits


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Anita RoddickThe business has existed for one

reason onlyto allow us to use our

success to act as a force ofchange

..to help protect people andthe environment.


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IN BOTH BRITAIN AND AMERICA

And other countries, too:

Companies now must give value,

not just to the customer or the

stockholder, but to society.


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American entrepreneur: SteveJobs


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Desktop PC with graphical interface: thismachine changed the world!

Small businesses and homes and schools couldnow have a computer!


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He saw the next wave of computing was

music.

Steve Jobs was a visionary.


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The iTunes music library

Now: in terms of revenue,

Apple changed frombeing a computer

company to a musicentertainment company!


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iPhone: June, 2007


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Market capitalization :

$623 billion one of the

highest ever by publically

traded corporation.

A company with innovation

and value


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SAM WALTON: AMERICAN RETAILGENIUS

What company did he start?


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The Worlds third largest

corporation according to the

Fortune 500 list

The biggest private employer in

the world with over 2 millionemployees


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American retail giant


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2.5% OF U.S. GDP IS WAL-MART

-- 70% of merchandiseisimported from China!....

11% of U.S. trade deficit

with China is because ofWal-Mart!


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Customer service/ customer first

Conservative corporate culture

Effective Strategiesto dominate the retail

market


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AND: EFFICIENT GLOBAL SUPPLY

CHAINS

Very efficientmanufacturing operations

in China with strictinventorycontrol


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IN THE 1980S..

Sam Walton was the

richest man in the world

Company operates in 15international markets


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NEGATIVE SIDE

The loss of U.S. jobs

Manufacturing is done in China but sales

are mostly in the U.S.

SO..


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American dollarsand jobs flow toChina.


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The American consumer is

helping China.


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But this is the natureof global business today


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What global company did he start?

What global brand did he make?


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A truly global brand


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Unique marketing mix

Unique management structure

Unique product line

Unique corporate philosophy


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Companies like Starbucks

and Apple and othershave changed the way wedo business, the way we

think about business.

These entrepreneurs and their companies have changeour lives.


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In America-

The MBA is still the foundation formost business practices.


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The MBA gives you the toolsyou need to operate in thebusiness world.

An executive degree


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Now you can even do it online!

Would you like to get an MBA?


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-marketing

-operations

-accounting

-economics-finance

- human resource management

- leadership-quantitative analysis


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Leadership is important

In business schools this course

is called OrganizationalBehavior.


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OB classes help deal with the humanchallenges. ..

..Good managers need to be goodleaders..how to set goals and reach

people, motivate them.

*Organizational behavior


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Most MBA courseuse the case study

method--

The case study method:


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Using specific cases to study

such things as

Supply-chain management (Wal-Mart, Dell)

Marketing (Coca Cola, Starbucks)

Management strategy (Google)

Finance (Enron, Bear Stearns)


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Students of business English Should also study business cases of modern

global businesses.

With special focus on innovation


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AMERICAN BUSINESS EDUCATION:ENTREPRENEURSHIP

Exploring new opportunities in

business

New markets, new

products.how to develop


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ENTREPRENEURIAL SKILLS

Passion (motivation)

Intensity (mental focus)

Fearlessness (risk taker)

Vision (creativity)


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In the global economy,

the American model is

changing.. Becoming

more international,more global

The business world ischanging.


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Leadershiprather thanmanagement!

[what does this mean?]

A new world!


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A quiet revolution in business

New models like systems thinking,

New philosophy like sustainability,

New ideas about leadership andentrepreneurship

Corporate social responsibility (CSR)


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Knowledge-basedenterprises.

Silicon Valley and the digitalrevolution


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Systems thinking focuseson the whole, not theparts, of a complex system.

Systems thinking


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OLD STYLE BUSINESS ORIENTATION

Focus on profit maximization:making as much money aspossible for shareholders


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The modern global economy

Communication is much more important-cross-cultural communication

And of course, English language ability iskey- from Singapore to Dubai, fromLondon to NY to Tokyo-- the language of

business is English.


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How to study: There are many good website for business

case studies and business studies in

general


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Many online resources.


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Aegis global
http://www.aegisglobal.com/


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www.bized.co.uk

U.K. business
http://www.bized.co.uk/http://www.bized.co.uk/


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BBC Learning (business)


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Who is this man? (1984)


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Sir Richard Branson (1984)


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Virgin Records Branson started a successful music

companyrecording new artists

Then, in the early 1980s he decided he

wanted to start an airline!


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No experience running and airline!

Also, it was almost impossible toget hangers () or runwaysat Heathrow Airport.


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Virgin Atlantic Limited


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He breaks all the rules.


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Virgin spaceship Do you want to reserve a seat?


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A truly global entrepreneur Today over 250 companies under theVirgin brand with over $8 billion a year inrevenue ()

He challenged the tradition in businessschools that a business should focus onone thing only.


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U.S. Global Business