In January 2009, Amy started a business as an independent website designer.
To give her a start in her career, her brother Ben, who ran a retail business, said he would give her £1,000 if she updated his business website. At the same time, her friend Che asked her to do work for his business, also for a set fee of £1,000.
However, by the time Amy had completed the two projects her design business had become a huge success and she had lots of other clients. When Ben and Che discovered how successful Amy’s business had become they both felt that they should not be asked to pay for the work they had commissioned.
Ben said he would not pay anything as he had only offered the work to help his sister out. Che said he would not pay anything either, on the basis that he had only given her work to do on the basis of their friendship.
Required:
Advise Amy as to whether she can insist on Ben and Che paying the full amounts of their initial promises.
从方框中选择适当的词或词组,并和其适当形式填空。
search for; look like; process; bore; play games, send e-mails;join;so much for;south;relax oneself,
1. Don't use your computer only for()every night.
2. All of us()the missing dog at that time.
3.—What()your sister()? —She is tall and slim.
4. Can you do a word()?
5. The film was so()that I have already fallen asleep.. on the computer is fast and easy.
7. Hainan is a province at the()end of China.
8.()New York.. There is a“ Back” icon at the bottom of the page.
9. How long()you()the Amy? —For 15 years.
10.He often listens to music()after a hard day's work.
developing countries. Professor James West from North America argued that one of the key needs for developing
countries was to implement rigorous systems of corporate governance to underpin investor confidence in businesses
in those countries. If they did not, he warned, there would be no lasting economic growth as potential foreign inward
investors would be discouraged from investing.
In reply, Professor Amy Leroi, herself from a developing country, reported that many developing countries are
discussing these issues at governmental level. One issue, she said, was about whether to adopt a rules-based or a
principles-based approach. She pointed to evidence highlighting a reduced number of small and medium sized initial
public offerings in New York compared to significant growth in London. She suggested that this change could be
attributed to the costs of complying with Sarbanes-Oxley in the United States and that over-regulation would be the
last thing that a developing country would need. She concluded that a principles-based approach, such as in the
United Kingdom, was preferable for developing countries.
Professor Leroi drew attention to an important section of the Sarbanes-Oxley Act to illustrate her point. The key
requirement of that section was to externally report on – and have attested (verified) – internal controls. This was, she
argued, far too ambitious for small and medium companies that tended to dominate the economies of developing
countries.
Professor West countered by saying that whilst Sarbanes-Oxley may have had some problems, it remained the case
that it regulated corporate governance in the ‘largest and most successful economy in the world’. He said that rules
will sometimes be hard to follow but that is no reason to abandon them in favour of what he referred to as ‘softer’
approaches.
(a) There are arguments for both rules and principles-based approaches to corporate governance.
Required:
(i) Describe the essential features of a rules-based approach to corporate governance; (3 marks)
??Team spirit??
[A] Teams have become the basic building blocks of organizations. Recruitment advertisements routinely call for “team players”. Business schools grade their students in part on their performance in group projects. Office managers knock down walls to encourage team building. Teams are as old as civilization, of course: even Jesus had 12 co-workers. But a new report by Deloitte, “Global Human Capital Trends”, based on a survey of more than 7,000 executives in over 130 countries, suggests that the fashion for teamwork has reached a new high. Almost half of those surveyed said their companies were either in the middle of restructuring or about to embark on (开始)it; and for the most part, restructuring meant putting more emphasis on teams.
[B] Companies are abandoning conventional functional departments and organising employees into cross-disciplinary teams that focus on particular products, problems or customers. These teams are gaining more power to run their own affairs. They are also spending more time working with each other rather than reporting upwards. Deloitte argues that a new organisational form. is on the rise: a network of teams is replacing the conventional hierarchy (等级体制).
[C] The fashion for teams is driven by a sense that the old way of organising people is too rigid for both the modem marketplace and the expectations of employees. Technological innovation places greater value on agility (灵活性).John Chambers, chairman of Cisco Systems Inc., a worldwide leader in electronics products, says that “we compete against market transitions (过渡),not competitors. Product transitions used to take five or seven years; now they take one or two. ” Digital technology also makes it easier for people to co-ordinate their activities without resorting to hierarchy. The “millennials” (千禧一代) who will soon make up half the workforce in rich countries were raised from nursery school onwards to work in groups.
[D] The fashion for teams is also spreading from the usual corporate suspects (such as GE and IBM) to some more unusual ones. The Cleveland Clinic, a hospital operator, has reorganised its medical staff into teams to focus on particular treatment areas; consultants, nurses and others collaborate closely instead of being separated by speciality (专业)and rank. The US Army has gone the same way. In his book, “Team of Teams&39; General Stanley McChrystal describes how the army’s hierarchical structure hindered its operations during the early stages of the Iraq war. His solution was to learn something from the insurgents it was fighting: decentralise authority to self-organising teams.
[E] A good rule of thumb is that as soon as generals and hospital administrators jump on a management bandwagon, it is time to ask questions. Leigh Thompson of Kellogg School of Management in Illinois warns that, ‘Teams are not always the answer—teams may provide insight, creativity and knowledge in a way that a person working independently cannot; but teamwork may also lead to confusion, delay and poor decision-making.” The late Richard Hackman of Harvard University once argued, “I have no question that when you have a team, the possibility exists that it will generate magic, producing something extraordinary... But don’t count on it.”
[F] Hackman (who died in 2013) noted that teams are hampered by problems of co-ordination and motivation that chip away at the benefits of collaboration. High-flyers forced to work in teams may be undervalued and free-riders empowered. Groupthink may be unavoidable. In a study of 120 teams of senior executives, he discovered that less than 10% of their supposed members agreed on who exactly was on the team. If it is hard enough to define a team’s membership, agreeing on its purpose is harder still.
[G] Profound changes in the workforce are making teams trickier to manage. Teams work best if their members have a strong common culture. This is hard to achieve when, as is now the case in many big firms, a large proportion of staff are temporary contractors. Teamwork improves with time: America’s National Transportation Safety Board found that 73% of the incidents in its civil-aviation database occurred on a crew’s first day of flying together. However, as Amy Edmondson of Harvard points out, organisations increasingly use “team” as a verb rather than a noun: they form. teams for specific purposes and then quickly disband them.
[H] The least that can be concluded from this research is that companies need to think harder about managing teams. They need to rid their minds of sentimentalism (感情用事):the most successful teams have leaders who are able to set an overall direction and take immediate action. They need to keep teams small and focused: giving in to pressure to be more “inclusive” is a guarantee of dysfunction. Jeff Bezos, Amazon’s boss, says that “If I see more than two pizzas for lunch, the team is too big.” They need to immunize teams against group-think: Hackman argued that the best ones contain “deviants” (离经叛道者)who are willing to do something that maybe upsetting to others.
[I] A new study of 12,000 workers in 17 countries by Steelcase, a furniture-maker which also does consulting, finds that the best way to ensure employees are “engaged” is to give them more control over where and how they do their work―which may mean liberating them from having to do everything in collaboration with others.
[J] However, organisations need to learn something bigger than how to manage teams better: they need to be in the habit of asking themselves whether teams are the best tools for the job. Teambuilding skills are in short supply: Deloitte reports that only 12% of the executives they contacted feel they understand the way people work together in networks and only 21% feel confident in their ability to build cross-functional teams. Loosely managed teams can become hotbeds of distraction―employees routinely complain that they can’t get their work done because they are forced to spend too much time in meetings or compelled to work in noisy offices. Even in the age of open-plan offices and social networks some work is best left to the individual.
36. Successful team leaders know exactly where the team should go and are able to take prompt action.
37. Decentralisation of authority was also found to be more effective in military operations.
38. In many companies, the conventional form. of organisation is giving way to a network of teams.
39. Members of poorly managed teams are easily distracted from their work.
40. Teamwork is most effective when team members share the same culture.
41. According to a report by Deloitte, teamwork is becoming increasingly popular among companies.
42. Some team members find it hard to agree on questions like membership and the team’s purpose.
43. Some scholars think teamwork may not always be reliable, despite its potential to work wonders.
44. To ensure employees’ commitment, it is advisable to give them more flexibility as to where and how they work.
45. Product transitions take much less time now than in the past.