1 What is management? Is it an art or a science? An instinct or a set of skills and techniques that can be taught? + Management is a process of planning, organizing, leading, motivation and controllin[.]
1 What is management? Is it an art or a science? An instinct or a set of skills and techniques that can be taught? + Management is a process of planning, organizing, leading, motivation and controlling the human resources, financial, physical, and information resources of an organization to reach its goals efficiently and effectively + Management is a science because of several reasons - it has universally accepted principles, it has cause and effect relationships etc, and at the same time, it is art because it requires perfection through practice, practical knowledge, creativity, personal skills etc + Management is a set of skills and techniques that can be taught While some individuals may have natural instincts or inclinations towards certain managerial behaviors, effective management requires a combination of knowledge, experience, and learned skills Through education, training, and practice, individuals can develop the necessary competencies to become successful managers What you think makes a good manager? + A good manager possesses a combination of various qualities and skills that enable them to effectively lead and inspire their team They should have strong communication skills to clearly convey expectations, provide feedback, and foster a positive work environment Additionally, a good manager should be able to delegate tasks efficiently, prioritize workloads, and make informed decisions They should also possess excellent problem-solving abilities and be adaptable to changing circumstances Furthermore, a good manager should be able to motivate and empower their team members, recognize their strengths, and provide opportunities for growth and development What you think would be the best way to learn to be an international manager? + The best way to learn to be an international manager is through a combination of formal education, practical experience, and continuous learning Pursuing a degree in international business or a related field can provide a solid foundation of knowledge and skills Additionally, gaining hands-on experience through internships or entry-level positions in multinational companies can help develop a deep understanding of the complexities of managing across cultures and borders Continuous learning through professional development programs, industry conferences, and networking with other international managers can also enhance one's expertise in this field What you know about management development in different countries? Is it very difficult? Management development in different countries varies based on cultural, economic, and social factors Each country has its own unique approach to developing managers, which is influenced by its historical context, educational system, and business practices For example, in the United States, management development often emphasizes individualism, innovation, and entrepreneurship In contrast, countries like Japan prioritize teamwork, consensus-building, and long-term planning in their management development programs Additionally, countries such as Germany focus on apprenticeship programs and vocational training to develop managerial skills Overall, management development strategies differ across countries due to their distinct cultural values and economic priorities Difficulties in Management Development: Management development can be challenging in various ways across different countries: Language and Communication: Language barriers can pose challenges in delivering effective management development programs in multicultural settings Organizations operating globally need to ensure that language barriers not hinder the transfer of knowledge and skills Cultural Adaptation: Adapting management development programs to different cultural contexts requires a deep understanding of local customs, values, and communication styles Failure to consider cultural nuances can lead to ineffective training and development initiatives Diverse Legal and Regulatory Frameworks: Organizations operating in multiple countries must navigate diverse legal and regulatory frameworks related to employment, training, and development Compliance with local laws while maintaining consistency in management development practices can be complex The phrase "Thinking global, acting local" is often quoted What does it mean to you? By thinking globally, individuals can gain a deeper understanding of complex global issues such as climate change, poverty, inequality, or human rights violations This understanding can then inform their actions at a local level For example, an individual concerned about climate change may choose to reduce their carbon footprint by using public transportation or advocating for renewable energy initiatives in their community At the same time, acting locally allows individuals to have a direct impact on their immediate surroundings By engaging with local organizations, participating in community projects, or supporting local businesses, individuals can contribute to the well-being and development of their communities These actions can range from volunteering at a local food bank to starting a community garden or supporting local artisans For businesses, it means considering the global implications of their operations, such as environmental sustainability or ethical sourcing, while also supporting local economies and communities through job creation and responsible business practices What is the main function of strategic planning? Strategic planning is a crucial process that helps organizations align their actions with their overall mission and vision It provides a framework for decision-making, resource allocation, and performance evaluation By engaging in strategic planning, organizations can anticipate future trends, adapt to changes in the business environment, and stay ahead of their competitors One of the key functions of strategic planning is goal setting Through this process, organizations establish clear and measurable objectives that they aim to achieve over a specific period of time These goals should be aligned with the organization's mission and vision statements, reflecting its core values and purpose Goal setting provides a sense of direction and purpose for the organization, guiding its actions and decisions Another important function of strategic planning is environmental analysis This involves assessing both the internal and external factors that may impact the organization's ability to achieve its goals Internal analysis focuses on evaluating the organization's strengths and weaknesses, such as its resources, capabilities, and organizational culture External analysis examines the opportunities and threats present in the external environment, including market trends, competition, technological advancements, regulatory changes, and socio-economic factors By understanding these factors, organizations can identify potential risks and opportunities, enabling them to make informed decisions What is the role of tactical planning? What are programmed decisions? Non-programmed decisions? Programmed decisions refer to routine, repetitive, and well-structured decisions that can be made using predetermined rules, procedures, or guidelines These decisions are typically made in response to recurring situations or problems that have occurred in the past Programmed decisions are often automated and not require extensive analysis or evaluation They are based on established routines and standard operating procedures On the other hand, non-programmed decisions are unique, non-repetitive, and unstructured decisions that arise in unfamiliar or exceptional situations These decisions require careful analysis, evaluation, and judgment as they involve novel problems for which there are no established routines or guidelines Non- programmed decisions are typically made by higher-level managers who have the authority and expertise to handle complex issues What is the difference between good and mediocre decision makers? Approach: Good decision makers approach problems and decisions with a strategic mindset They take the time to thoroughly analyze the situation, gather relevant information, and consider multiple perspectives before making a choice They understand the importance of considering both short-term and longterm consequences and strive to make decisions that align with their goals and values Mediocre decision makers, on the other hand, often rely on intuition or make impulsive choices without fully evaluating the situation They may lack a systematic approach to decision-making, leading to inconsistent outcomes Their decisions may be influenced by personal biases or external pressures rather than objective analysis Mindset: Good decision makers possess a growth mindset, which means they believe that their abilities can be developed through dedication and hard work They embrace challenges, learn from failures, and continuously seek opportunities for improvement This mindset allows them to adapt to changing circumstances and make better decisions over time Mediocre decision makers may have a fixed mindset, believing that their abilities are limited and cannot be significantly improved This mindset can hinder their willingness to learn from mistakes or seek feedback, resulting in stagnant decisionmaking skills Skills: Good decision makers possess a range of skills that contribute to their effectiveness These skills include: Critical thinking: Good decision makers are adept at analyzing information objectively, identifying patterns, and evaluating the strengths and weaknesses of different options They can separate facts from opinions and make logical connections between various pieces of information 2 Problem-solving: Good decision makers excel at identifying problems, generating creative solutions, and evaluating the potential outcomes of each option They are skilled at breaking down complex problems into manageable parts and finding innovative approaches to overcome challenges Emotional intelligence: Good decision makers understand the impact of emotions on decision-making and can effectively manage their own emotions as well as those of others They are empathetic, able to consider the feelings and perspectives of others, and use this understanding to make more informed decisions Mediocre decision makers may lack these skills or not fully develop them, leading to suboptimal decision-making processes and outcomes Outcomes: The ultimate differentiating factor between good and mediocre decision makers is the quality of their outcomes Good decision makers consistently achieve better results due to their thoughtful approach, growth mindset, and honed skills They make decisions that are aligned with their goals, minimize risks, and maximize opportunities Mediocre decision makers, on the other hand, may experience inconsistent or unsatisfactory outcomes Their decisions may be impulsive, biased, or based on incomplete information, leading to subpar results They may struggle to learn from their mistakes or adapt their decision-making approach, resulting in a cycle of mediocre outcomes In conclusion, good decision makers stand out from their mediocre counterparts due to their strategic approach, growth mindset, honed skills, and superior outcomes By embracing critical thinking, problem-solving abilities, emotional intelligence, and a commitment to continuous improvement, good decision makers consistently make better choices that align with their goals and lead to successful outcomes 10 What you think are the factors that influence decision making? Cognitive Factors: Cognitive factors play a crucial role in decision making These include perception, attention, memory, and reasoning abilities Perception refers to how individuals interpret and make sense of information from their environment Attention determines which information is given priority and receives focus Memory allows individuals to recall past experiences and use them as a basis for decision making Reasoning abilities involve logical thinking and problem-solving skills Emotional Factors: Emotions also have a significant impact on decision making Emotions can influence the way individuals perceive and evaluate different options For example, positive emotions such as happiness or excitement may lead to more risk-taking behavior, while negative emotions such as fear or sadness may result in more cautious decision making Emotional intelligence, which involves understanding and managing one's own emotions as well as recognizing and empathizing with the emotions of others, can also affect decision making Social Factors: Social factors refer to the influence of other people on decision making Social norms, cultural values, peer pressure, and social expectations can all shape the choices individuals make Conformity bias, for instance, occurs when individuals align their decisions with those of a group to avoid conflict or gain acceptance Additionally, social influence can come from authority figures or influential individuals who may sway decisions through their expertise or power Environmental Factors: The environment in which decisions are made can also impact the decision-making process Environmental factors include physical surroundings, time constraints, available resources, and external events For example, a noisy or distracting environment may hinder concentration and impair decision making Time pressure can lead to rushed decisions, while limited resources may force individuals to prioritize certain options over others Biological Factors: Biological factors, such as genetics and brain structure, can also influence decision making Genetic predispositions may affect an individual's risk-taking behavior or their ability to process certain types of information Brain structure and functioning, including the prefrontal cortex responsible for executive functions, can impact decision-making abilities Personal Values and Beliefs: Personal values and beliefs play a significant role in decision making These are shaped by an individual's upbringing, education, cultural background, and personal experiences Personal values act as guiding principles that help individuals evaluate options based on what they consider important or morally right Beliefs about oneself and the world can also influence decision making by shaping perceptions of risks and rewards Information concerning the concrete problem that needed to be solved − the less information known by the decision maker, the more erroneous the decision can be The negatives and positives of the available solutions should be considered in any decision Educational Level − a good decision-maker is well-versed and knowledgeable If the person is not well educated, he will be unable to consider the possible consequences of his decision A decision-maker should know about the consequences his decisions could have Personality − According to the Big Five Factor Model, decisionmakers are low on extraversion, agreeableness, and neuroticism and high on openness to experience and consciousness Decision makers are low on agreeableness and neuroticism as they have to have control over their emotions and should take decisions with a rational mind, also considering the emotions of themselves and others If they are neurotic, their emotions might influence their decisions Agreeableness refers to agreeing and going with the flow, but decision-makers should see the bigger picture differently to make effective decisions They are high on consciousness, as they are well organized and disciplined Mostly, decision-makers seem to have serious personalities and are reserved, thus being low on extraversion, and their punctuality and discipline help them to be better decision-makers Coping − A good decision-maker can cope with new situations Novel situations can be stressful and can influence decisionmaking as they might put much pressure on the person who has to make the decision So to cope with a situation, the person should be prepared to tackle any problem Culture − Cultural factors influence every aspect of life Culture influences how a person is brought up In western culture, an individualistic approach is preferred compared to Asian culture, where collectivism is preferred So, if the same problem is presented to a person from Western culture and the same problem is presented to someone from an Asian culture, both can arrive at different conclusions This is due to cultural differences A person hailing from the west would take a decision that would favor him individually In contrast, a person from an eastern culture would favor a decision that would benefit the whole community.Either of the decisions is not right or wrong; both are justified in cultural context 11 How many different ways of organizing or structuring a company can you think of? Sole Proprietorship: This is the simplest form of business organization where an individual owns and operates the business The owner has complete control over decision-making and assumes all liabilities However, the owner's personal assets are at risk in case of any legal issues or debts Partnership: A partnership involves two or more individuals who share ownership and responsibilities for running the business There are different types of partnerships, including general partnerships (where all partners have equal rights and responsibilities) and limited partnerships (where there are both general partners and limited partners with limited liability) Limited Liability Company (LLC): An LLC combines elements of both partnerships and corporations It provides limited liability protection to its owners (known as members) while allowing flexibility in management and taxation LLCs can have a single member or multiple members Corporation: A corporation is a legal entity that exists separately from its owners (shareholders) It offers limited liability protection to shareholders, meaning their personal assets are generally not at risk Corporations have a formal structure with shareholders, directors, and officers They can issue stock and raise capital through public or private offerings Cooperative: Cooperatives are owned and operated by their members who use the cooperative's services or products They can be organized as consumer cooperatives (owned by consumers), worker cooperatives (owned by employees), or producer cooperatives (owned by producers) Cooperatives aim to meet the common needs or goals of their members Franchise: A franchise is a business arrangement where one party (the franchisor) grants another party (the franchisee) the right to operate a business using its established brand, systems, and support Franchisees pay fees or royalties to the franchisor in exchange for the use of their intellectual property and ongoing support Joint Venture: A joint venture is a temporary partnership between two or more companies to undertake a specific project or business activity Each company contributes resources, expertise, and shares in the risks and rewards of the venture Joint ventures are often formed to access new markets, share costs, or combine complementary capabilities Nonprofit Organization: Nonprofit organizations are formed for purposes other than making a profit They can be organized as charitable organizations, educational institutions, religious organizations, or social welfare organizations Nonprofits rely on donations, grants, and fundraising activities to support their mission Matrix Organization: A matrix organization is a hybrid structure that combines functional departments with project teams It allows employees to have dual reporting lines – one to their functional manager and another to their project manager Matrix organizations are often used in complex projects or industries where cross-functional collaboration is crucial 10 Virtual Organization: Virtual organizations operate primarily through digital platforms and not have a physical office or centralized location Employees work remotely and collaborate online using various communication tools and technologies Virtual organizations offer flexibility and cost savings but require effective virtual team management 12 Why are people sometimes resistant to change? Individual Factors: Change often brings uncertainty, and people may fear the potential negative consequences that could arise from it They may worry about their ability to adapt to new processes or technologies, or they may fear that their skills will become obsolete Change can disrupt established routines and ways of doing things, leading individuals to feel a loss of control over their work environment This loss of control can create anxiety and resistance to change Sometimes, individuals may resist change simply because they not fully understand the reasons behind it or the potential benefits it could bring This lack of awareness or understanding can lead to skepticism and resistance Previous experiences with change initiatives that were poorly executed or resulted in negative outcomes can make individuals more resistant to future changes They may be hesitant to trust new initiatives or leaders due to these past experiences Change initiatives require strong leadership support to be successful When leaders not actively champion the change or fail to provide the necessary guidance and support, employees may resist the proposed changes 13 What is the main purpose of performance appraisals? 14 What steps are involved in the application process? Research and Preparation: Before starting the application process, it is essential to research and gather all the necessary information about the organization or institution you are applying to This includes understanding their requirements, deadlines, and any specific documents or qualifications they may be looking for It is also important to prepare any supporting materials, such as resumes, cover letters, transcripts, or portfolios Complete Application Form: The first step in most application processes is filling out an application form This form typically collects personal information such as name, contact details, educational background, work experience, and references Some applications may also require additional information like essays or statements of purpose Submit Supporting Documents: Along with the application form, you will often need to submit various supporting documents to provide evidence of your qualifications and achievements These documents may include academic transcripts, certificates, letters of recommendation, resumes, portfolios, or any other relevant documentation requested by the organization Pay Application Fees: In some cases, there may be an application fee associated with submitting your application This fee helps cover administrative costs and is usually non-refundable The payment can be made online or through other specified methods Write Essays or Personal Statements: Many applications require applicants to write essays or personal statements that showcase their skills, experiences, goals, and motivations These essays provide an opportunity for applicants to demonstrate their suitability for the position or program they are applying to 6 Interviews and Assessments: Depending on the nature of the application process, applicants may be required to participate in interviews or assessments Interviews can be conducted in person, over the phone, or via video conferencing Assessments may include tests, group activities, or presentations to evaluate the applicant's skills and abilities Follow-up and Communication: After submitting the application, it is important to follow up with the organization or institution to ensure that all required documents have been received and to inquire about the status of your application This can be done through email, phone calls, or any other specified method of communication Wait for a Decision: Once the application is complete, the next step is to wait for a decision from the organization or institution The waiting period can vary significantly depending on the specific context and the volume of applications received It is important to remain patient during this time and avoid contacting the organization excessively for updates Receive Decision: Finally, applicants will receive a decision regarding their application This decision may come in the form of an acceptance letter, rejection letter, or a request for further information or clarification If accepted, applicants may need to take additional steps such as submitting enrollment deposits or completing other administrative tasks 15 What sort of thing motivates people to their job well? Intrinsic Motivation: Intrinsic motivation refers to the internal drive and enjoyment that individuals experience when engaging in tasks that they find inherently interesting, challenging, or fulfilling When people are intrinsically motivated, they derive satisfaction from the work itself rather than relying on external rewards or incentives This type of motivation can be fostered by providing employees with autonomy, opportunities for personal growth and development, and meaningful work that aligns with their values and interests Extrinsic Motivation: Extrinsic motivation involves external factors such as rewards, recognition, and incentives that influence individuals' behavior and performance While intrinsic motivation focuses on internal satisfaction, extrinsic motivation relies on external reinforcements to encourage desired behaviors Examples of extrinsic motivators include salary raises, bonuses, promotions, public recognition, and tangible rewards However, it is important to note that extrinsic motivators may not always lead to sustained high performance if intrinsic motivation is lacking 3 Purpose and Meaning: Having a sense of purpose and meaning in one's work can significantly impact motivation levels When individuals believe that their work contributes to a greater cause or serves a meaningful purpose, they are more likely to be motivated and engaged Organizations can foster a sense of purpose by clearly communicating the mission and vision of the company, emphasizing the positive impact of employees' contributions, and creating a supportive work environment where individuals feel valued and connected to the organization's goals Achievement and Growth: The desire for achievement and personal growth is another powerful motivator in the workplace People are often motivated by the opportunity to learn new skills, take on challenging projects, and advance in their careers Providing employees with opportunities for professional development, training programs, and clear career paths can help satisfy this need for growth and keep individuals motivated to perform at their best Supportive Work Environment: The work environment plays a crucial role in motivating employees A supportive work environment is characterized by positive relationships, effective communication, fair treatment, and opportunities for collaboration and teamwork When individuals feel supported by their colleagues and supervisors, they are more likely to be motivated, engaged, and committed to their work Recognition and Feedback: Regular recognition and feedback are essential for motivating employees Acknowledging and appreciating individuals' efforts and achievements can boost morale, increase job satisfaction, and reinforce desired behaviors Constructive feedback also helps individuals understand their strengths and areas for improvement, enabling them to grow professionally Work-Life Balance: Striking a balance between work and personal life is crucial for maintaining motivation and overall well-being Organizations that prioritize work-life balance by offering flexible working hours, remote work options, and supportive policies create an environment where employees feel valued and motivated to perform well 16 What are the ways to motivate employees? There are several ways to motivate employees, including providing recognition and rewards for their achievements, offering opportunities for growth and development, fostering a positive work environment, promoting work-life balance, and involving employees in decision-making processes Additionally, setting clear goals and expectations, providing regular feedback and communication, offering competitive compensation and benefits, and promoting a sense of purpose and meaning in the work can also be effective in motivating employees 17 What are the characteristics of a true leader? Visionary: A true leader has a clear vision of the future and is able to articulate it to others They possess the ability to see beyond the present circumstances and envision a better future This vision serves as a guiding light for their actions and decisions, inspiring others to work towards a shared purpose Confidence: Confidence is another crucial characteristic of a true leader They believe in themselves and their abilities, which instills confidence in their followers as well A confident leader is not afraid to take risks or make difficult decisions, as they trust their judgment and have faith in their team's capabilities Effective Communication: Effective communication is vital for a true leader to convey their vision, goals, expectations, and feedback clearly They are skilled at both listening attentively and expressing themselves articulately By fostering open lines of communication, leaders can ensure that everyone is on the same page and working towards the same objectives 18 What are some types of leadership? 19 Transactional Leadership: Transactional leadership is based on a transactional relationship between the leader and their followers This type of leadership focuses on setting clear expectations, providing rewards or punishments based on performance, and maintaining a structured work environment Transactional leaders emphasize adherence to rules, policies, and procedures to achieve goals They often use contingent rewards, such as bonuses or promotions, to motivate their followers Transformational Leadership: Transformational leadership is centered around inspiring and motivating followers to achieve exceptional performance and personal growth These leaders are visionary, charismatic, and have the ability to articulate a compelling vision for the future They inspire their followers by creating a sense of purpose and meaning in their work, fostering innovation and creativity, and empowering individuals to reach their full potential Transformational leaders often exhibit qualities such as empathy, integrity, and strong communication skills Servant Leadership: Servant leadership is characterized by a focus on serving others before oneself These leaders prioritize the needs of their followers and aim to support their personal development and well-being They actively listen to their team members, empathize with their concerns, and provide guidance and support when needed Servant leaders foster a collaborative and inclusive work environment where everyone's contributions are valued Autocratic Leadership: Autocratic leadership involves centralized decisionmaking authority held by the leader In this style, the leader has complete control over decision-making processes without seeking input or feedback from subordinates This type of leadership is often effective in situations that require quick decision-making or in hierarchical organizations where strict control is necessary Democratic Leadership: Democratic leadership emphasizes participation and collaboration among team members in decision-making processes Leaders who adopt this style encourage open communication, seek input from their team, and value diverse perspectives By involving others in the decision-making process, democratic leaders promote a sense of ownership and commitment among team members Laissez-Faire Leadership: Laissez-faire leadership is characterized by a hands-off approach, where leaders provide minimal guidance or direction to their followers They delegate authority and decision-making power to their subordinates, allowing them to work independently and take responsibility for their own actions This type of leadership is effective when working with highly skilled and self-motivated individuals who require little supervision 19 What is Corporate Social Responsibility (CSR)? What does it include? 20 What is the purpose of business, in your opinion? Is it just to make money? First and foremost, businesses exist to fulfill the needs and wants of consumers They provide goods and services that satisfy various demands in society By identifying market gaps and developing innovative solutions, businesses contribute to the overall well-being and progress of individuals and communities This aspect of business emphasizes the importance of creating value for customers and enhancing their quality of life Secondly, businesses play a vital role in driving economic growth and development They generate employment opportunities, stimulate investment, and contribute to the overall prosperity of nations Through job creation, businesses enable individuals to earn income, support their families, and improve their standard of living Moreover, businesses pay taxes that fund public services such as education, healthcare, infrastructure development, and social welfare programs Thus, the purpose of business extends beyond individual profit-making to include broader societal benefits Thirdly, businesses have a responsibility towards their stakeholders, including employees, shareholders, suppliers, customers, and the wider community They must operate ethically and responsibly, considering the social and environmental impacts of their actions This involves adhering to legal regulations, promoting fair labor practices, ensuring product safety, minimizing environmental harm, and engaging in corporate social responsibility initiatives By acting in a socially responsible manner, businesses can build trust with stakeholders and contribute to sustainable development It is important to note that while making money is an essential objective for businesses as it enables them to sustain operations and grow over time, it should not be pursued at the expense of other considerations Profitability is necessary for long-term survival but should be balanced with ethical conduct, customer satisfaction, employee well-being, and societal impact In conclusion, the purpose of business extends beyond mere profit-making While making money is a fundamental objective, businesses also exist to fulfill consumer needs, drive economic growth, and act responsibly towards stakeholders By considering these dimensions, businesses can contribute to the betterment of society and create sustainable value Differences between countries become less evident each year Nowadays, all over the world people share the same advertising, brands, eating habits and TV channels Do the advantages outweigh the disadvantages of these fashions? Globalisation has allowed people to adopt a homogeneous culture in terms of entertainment, fashion and other areas as such However there are some people who believe such uniformity isn’t very beneficial This essay shall discuss further both the sides of this phenomenon Having the same kind of preferences helps people get around the world very easily If we watch TV shows or adverts of a certain country we get familiar with a summary of its culture, thereby making it easier for us to blend in there The more we get to know about each other, the more can the differences between countries be eliminated making the world a huge harmonious community We are no longer restricted to brands of our own country but are exposed to international products and services Following a global fashion trend shall make you feel and act more naturally with the people anywhere in the world without being too obvious The people who not support such a development are the ones who feel a country’s own ethnicity will be lost if the people try to adopt the prevailing global culture a little more than required Watching TV shows or movies from a foreign country may influence and alter the mannerisms of the people of the home country Some cultures are very rigid when it comes to clothing and the acceptance of universal fashion trends therefore will not be received well Although, I feel these are minor issues in comparison to the host of advantages that we have regarding this One’s own ethnicity can be followed regardless of the TV shows we watch or the clothes we wear To conclude, I agree that the advantages of the phenomenon of having a uniform culture worldwide outweigh the disadvantages Every subject has pros and cons, and the cons here can be ignored easily, especially when such an acceptance makes life easier Some people believe that visitors to other countries should follow local customs and behavior Others disagree and think that the host country should welcome culture differences Discuss both these views and give your own opinion There are different opinions on whether visitors should comply with local traditions, or the locals should accept foreign lifestyles In my opinion, the host country should welcome new patterns of belief and culture On the one hand, there are several reasons why some people think tourists should adhere to the new customs Firstly, such adherence would enable them to integrate more easily and quickly into the new environment For example, if a person from the US understood table manners or learnt how to use chopsticks, he would have familiarized himself with Vietnamese tradition after a few days Secondly, following the customs of the new country would help in avoiding social conflicts and, sometimes, hostility A sense of isolation and loneliness could be the price for those who refuse to adapt to the new environment On the other hand, I would argue that the host country should accept the culture of the tourists Culture diverges tremendously across different countries and regions, depending on their historical backgrounds Therefore, it is rather absurd to compel tourists to comply with the new country’s lifestyles Besides, being flexible would be a powerful way to develop the host country’s tourism industry On being allowed to behave according to their cultural standards, visitors would feel respected and satisfied Also of great significance is their recommendation to their friends and relatives to travel to those places, leading to the growth of tourism In conclusion, I would agree with the people who support the idea of appreciating new culture Some people consider thinking about and planning for the future to be a waste of time They argue that people should simply live in the moment Do you agree or disagree? Use at least one personal example in your response Some people believe that making future plans is a futile exercise, and that focusing on the present moment is more important Personally, I feel that both perspectives are of equal importance and should be lived simultaneously On the one hand, I believe that it is quite important to plan for the future People need to have goals and dreams to strive towards in order to have a sense of purpose and direction in their lives And to achieve and fulfil these goals and be successful, it is essential that they make plans I am certain that any successful businessman, or millionaire, will tell you that one of the key elements in their success was their careful planning for the future However, the future is always uncertain, so it is also necessary to have a backup plan when things don’t work out as expected On the other hand, it is also extremely important to maintain focus on the present Many people would claim that there are far too many factors that influence our future, and therefore it is out of our control So, it is necessary that we stay focused on the present moment in order to be able to react and respond appropriately to our current situation and needs If you are too focused on the future, you may not make very good decisions about your present life Furthermore, nobody knows when their life will end, so it is also important to live your life to the fullest in each passing moment In conclusion, I believe it is important to maintain a balance between planning for the future and staying focused on the present moment It is necessary to make plans in order to achieve goals, but it is also necessary to be flexible and be able to adapt to the current changing situations and circumstances What is a business plan and why is it an essential first step for a start-up firm? In this article, we discuss the importance of a business plan for entrepreneurs, as well as a few main reasons why you need one A business plan is essential as an entrepreneur It helps you set clear goals and guidelines for how you will manage your business A business plan may also be needed to set employee goals, obtain funding or even to sell your business one day A lot goes into starting a new business In addition to coming up with a business idea, you also need to solidify the specifics of the business, like what services or products you will sell, where you will business and who will work for the company A business plan can help provide guidance in this process, which can also help avoid mistakes along the way It can offer you insight into the steps you need to take to open your business, as well as the resources you will need to obtain You might create a business plan before even deciding to open a business Writing a business plan requires that you conduct the necessary research, which can be helpful in deciding if starting a business makes sense You might also create a business plan if you intend to take your existing business in a new direction By writing out the details and finances of the new plan, you can determine if a shift will be profitable This includes defining your market, pinpointing who your customers are and how you will reach them Setting and measuring objectives will ensure that employees and managers are clear on their duties This can also help you choose the right staff for your business by setting clear expectations and objectives You might also use this information to help with training new employees and managers A business plan sets the expectations of the business from the beginning If you change or update your goals, a business plan can help share these new objectives, providing structure and accountability Why is it not usually possible to organize a large organization in a single hierarchy? Give some examples of standard conflicts of interest between departments with different objectives Are there any other ways of organizing companies that might solve these problems? There are several factors that motivate people to stay in the workforce, and money is the most important reason To what extent you agree or disagree? It is often claimed that getting money is an essential human need People are motivated to stay in their jobs for a variety of reasons, and some believe that one of those reasons is money I wholeheartedly concur with this statement, and I also believe that to continue working, other factors must be taken into consideration On the one hand, having money is a necessity for people to continue working Money facilitates the management of people's household budgets, serving as an example For instance, more people today are employed in the IT industry because of the technology sector's explosive growth over the past five years and the numerous opportunities for individuals to receive competitive pay packages from these businesses Additionally, everything is increasing in price in this digital age, so people need money to buy items for daily use Furthermore, one of the primary reasons for working is the workplace environment Working in a relaxed environment without peer pressure with kind coworkers and a considerate boss can increase an employee's confidence and happiness For instance, even though my workplace is quite remote from my home, my coworkers are so gracious that I chose to stick around and work with them Because of this, when people are part of a wonderful team, they tend to ignore negative aspects In conclusion, cash motivates a part of society to work However, satisfaction and the working environment also have an important impact The most effective way for a businessperson to maximize profits over a long period of time is to follow the highest standards of ethics." Discuss the extent to which you agree or disagree with the opinion stated above Support your views with reasons and/or examples from your own experience, observations, or reading Companies apply various strategies to gain profit in the business Above statement is suggesting that following the highest standards of ethics is the most effective way for a businessperson to maximize profits over a long duration of time After deep analysis I would like to say that I don't agree with the author I agree that following standards of ethics in an important guideline But I don't think that it is the most effective way of earning profit First of all, businesses cannot achieve profits just by following standards of ethics For instance, it could be that a company is following all principles of ethical business, but if that company doesn't have latest technology or competitive products or talented labor then that company could fail in market Based upon type of business and situation other things such as investment in Research and Development (R&D), implementation of latest management theories such as Six Sigma and Lean manufacturing or innovation in technology or reducing product costs or training labor could be the most effective ways to achieve success To enforce my views I would like to provide examples of few successful businesses Businesses such as Microsoft, Google and Apple Inc are successful because they introduced products which are completely different and advanced as compared to other products in their time era One can see Chinese goods in almost all parts of the world because Chinese businesses can produce goods in mass quantity at low cost These businesses are mainly successful because of reasons other than just following the highest standards of ethics To summarize, I think that to be successful companies need to apply various strategies Moreover, following the highest standards of ethics might not be the most effective way for maximizing profit But following the highest standards of ethics is important for society and to entire world Therefore, governments, society and as well as companies should ensure that companies are not breaking any ethics when they are pursuing various ways of achieving profit The goal of business should not be to make as big a profit as possible Instead, business should also concern itself with the well-being of the public." Discuss the extent to which you agree or disagree with the opinion expressed above Support your point of view with reasons and/or examples from your own experience, observations, or reading Businesses have always sought to make a profit, but it is becoming increasingly common to hear people talk about the social obligations that companies have I completely agree with the idea that businesses should more for society than simply make money On the one hand, I accept that businesses must make money in order to survive in a competitive world It seems logical that the priority of any company should be to cover its running costs, such as employees’ wages and payments for buildings and utilities On top of these costs, companies also need to invest in improvements and innovations if they wish to remain successful If a company is unable to pay its bills or meet the changing needs of customers, any concerns about social responsibilities become irrelevant In other words, a company can only make a positive contribution to society if it is in good financial health