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| Note: The FORTUNE Preview Guide is created in HTML. If you are unable to properly view the cover image, Course Connector, or hyperlinks, please view the online version at http://www.fortuneeducation.com/preview_guides/index.html. |
| COURSE CONNECTOR |
| ARTICLE SUMMARIES AND QUESTIONS |
| "The Best Advice I Ever Got," pp. 90-118: Despite FORTUNE's founding mission 75 years ago to never offer business advice, times have changed, and this issue offers anecdotal evidence that confidential advice may be the most influential factor in achieving success. In this article, Warren Buffett, Richard Branson, Meg Whitman, A.G. Lafley, and 24 other luminaries reminisce about the best advice they ever received – usually from older and wiser bosses. Common themes include having courage, following instincts, exhibiting perseverance in the face of adversity, and knowing when to admit defeat. Oh, and it doesn't hurt to listen to your mother.
Students will enjoy reading how these business superstars acted on the advice of others. Discussion Questions:
"How to Battle the Coming Brain Drain," pp. 121-128: Since useful advice and business know-how seems to be doled out most often by managers in their 50s and 60s, their pending retirement from the working world will create a dearth of wise words for tomorrow's up and comers. A few organizations are attempting to capture and disseminate decades worth of accumulated knowledge, by asking retirees to stay on as either mentors or part-time consultants. The Treasury Department and the IRS are contemplating rules allowing for "phased retirement," in which eligible employees would receive partial pension payouts while working part-time, training replacements and consulting as needed. The idea of bowing out gradually would appeal to the 51% of executives earning more than $100,000 a year who indicate they'd probably continue working after retiring from their current careers. This article helps students understand the importance of sharing knowledge with their peers – and listening to those with more experience. Discussion Questions:
"One Big Bad Baby Bell," pp. 170-178: SBC's Ed Whitacre is gearing up for an all-out war with the cable industry. As CEO of one of the Baby Bells, he is banking on Internet Protocol TV (IPTV) to revolutionize the way consumers receive information on their televisions. IPTV packages all kinds of digital content – e-mails, data, and phone calls – into the ultimate viewer experience. For example, subscribers will be able to not only watch a live football game, but also check their fantasy football scores and chat online with other fans – all at the same time and all on one screen. Whitacre is confident that SBC has nothing to lose by going with IPTV technology, and he has already addressed the logistical and regulatory issues that often arise when entering new territory. His biggest hurdles may be securing cheap distribution deals from content providers and getting people to ante up $100 a month for the service. This article about the imminent future of digital convergence can help students in IT, management, mergers and acquisitions, and operations learn how the telephone industry hopes to best the cable operators in capturing consumer dollars. Discussion Questions:
Corrected April 15, 2005 "Taxing Times at H&R Block," pp. 181-184: With more than 11,000 tax offices, H&R Block is close behind Subway and McDonald's in number of chains in the United States (Subway has 18,292 stores; McDonald's has 13,673), but H&R Block is still struggling – even during tax season. After four years on the job, CEO Mark Ernst is having a difficult time getting customers to use H&R Block's non-tax-related services, such as mortgages, IRAs, and investment products. It seems that people just want to get their taxes done, and don't really care if its by H&R Block, Jackson Hewitt, Liberty Tax Service, or Intuit's TurboTax software, as long as it's done fast and cheap. Ernst is trying to win back customers put off by H&R Block's cross-selling strategies by opening more offices and hiring more tax professionals. As tax time approaches, this article helps students in finance, customer service, management, marketing, and retail operations examine the plight of the nation's largest tax-preparation company. Discussion Questions:
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