Qusetion: Sharpening Your Communication Skills
You have just been informed that your employer is going to merge with a firm in Germany. Using online or library resources, find information on German business culture and customs and prepare a short report that would help your U.S. colleagues work effectively with your new German colleagues.
Building Your Team Skills
Imagine that the president of your college or university has just announced plans to retire. Your team, playing the role of the school's board of directors, must decide how to choose a new president to fill this vacancy next semester. First, generate a list of the qualities and qualifications you think the school should seek in a new president. What background and experience would prepare someone for this key position? What personal characteristics should the new president have? What questions would you ask to find out how each candidate measures up against the list of credentials you have prepared? Now list all the stakeholders that your team, as directors, must consider before deciding on a replacement for the retiring president. Of these stakeholders, whose opinions do you think are most important? Whose are least important? Who will be directly and indirectly affected by the choice of a new president? Of these stakeholders, which should be represented as participants in the decision-making process? Select a spokesperson to deliver a brief presentation to the class, summarizing your team's ideas and the reasoning behind your suggestions. After all the teams have completed their presentations, discuss the differences and similarities among credentials proposed by all the teams for evaluating candidates for the presidency. Then compare the teams' conclusions about stakeholders. Do all teams agree on which stakeholders should participate in the decision-making process? Lead a classroom discussion on a board's responsibility to its stakeholders.
Developing Your Research Skills
Review recent issues of business newspapers or periodicals (print or online editions) to find an article or series of articles illustrating one of the following business developments: merger, acquisition, hostile takeover, or leveraged buyout.
1. Explain in your own words what steps or events led to this development.
2. What results do you expect this development to have on
(a) the company,
(b) consumers, and
(c) the industry the company is part of? Write down your answers, along with today's date.
3. Follow your story in the business news over the next month (or longer, as your instructor requests). What problems, opportunities, or other results are reported? Were these developments anticipated at the time of the initial story, or did they seem to catch industry analysts by surprise? How well did your answers to question 2 predict the results?