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| COURSE CONNECTOR |
| ARTICLE SUMMARIES AND QUESTIONS |
"Break Free!" pp. 119-126: Is management becoming outdated — not the managers themselves, but the very principles of management? The question sounds strange, largely because the practice of management has changed very little over the past century. It is so firmly entrenched in our work psyche, we never think to question it. A new book by renowned management guru Gary Hamel dares to do just that. In The Future of Management (October 2007, Harvard Business School Press), Hamel makes the case that modern management, though plainly effective for many decades, is in need of a serious overhaul, especially if it is to catch up with dramatic changes in technology, lifestyles, and geopolitics. Hamel has developed a methodology for companies to follow to unearth and challenge long-standing management orthodoxies that unwittingly may be standing in the way of innovation and creative thinking. What are the possibilities? How about no bosses, no titles, free time to work on projects of personal interest, and the power to make meaningful choices and decisions about your work environment? It sounds too good to be true. But to Hamel, it's the future, and he gives fair warning to companies still saddled with 20th-century management baggage — change or fall behind. Students take a closer look at business strategy expert Gary Hamel's vision of the future of management. Discussion Questions:
"MySpace Strikes Back," pp. 128-136: No longer just a cyber-hangout for teens, MySpace has become the most trafficked website in the U.S. According to the research firm Compete.com, Americans spend 12% of all their Internet time there. And Rupert Murdoch, whose News Corp. bought MySpace in 2005 when it had $23 million in revenues, recently told analysts that in the fiscal year beginning in July, it will take in $800 million, with a profit margin greater than 20%. So why, then, is MySpace president Tom Anderson so darn defensive these days? Blame it on Facebook, another social networking site that lately is growing faster than MySpace and stealing some of its buzz. For its part, Facebook doesn't even consider MySpace a competitor. CEO Mark Zuckerberg points out that Facebook is intended to connect users to people they already know offline, unlike MySpace, where users can befriend anyone or anything. Facebook's clean, efficient interface also is a complete departure from MySpace's chaotic mishmash of modern media. Despite their differences, Anderson is taking the Facebook threat seriously, and he admits that sharing the same universe has helped the MySpace team resist complacency in the fight to remain the undisputed social networking leader. This article reveals how Facebook is nipping at the heels of MySpace and putting the social networking giant on notice. Discussion Questions:
"Would You Buy a Bridge from This Man?" pp. 138-150: If you use the Chicago Skyway, a 7.8-mile stretch of road between the downtown skyscrapers and the old steel mills of northwestern Indiana, you're helping to fund the retirement of someone halfway around the globe. How? The Skyway, along with many other infrastructure assets the world over, is controlled by an Australian investment firm called Macquarie Bank. The tolls paid to use bridges, highways, and parking lots in Macquarie's cadre line the coffers of the company, not the local municipality. So what did the city of Chicago get in return for leasing the Skyway to Macquarie for 99 years? Instead of collecting tolls for the next century, the city received $1.8 billion in cash right away, enabling it to pay down debt and establish a rainy-day fund on which it collects more interest than it was getting in annual tolls. Plus, Macquarie is responsible for maintaining the road. It sounds great, but not everyone is thrilled. Some are unhappy that foreign firms are making money off what has long been perceived as public property. Others have stronger critiques of the financial arrangement, including Jim Chanos of Kynikos Associates, who has accused Macquarie of being engaged in a Ponzi scheme. Students examine the business strategy and practices of Australian infrastructure investor Macquarie Bank. Discussion Questions:
"Ahoy! Can This Woman Save Free Trade?" pp. 172-178: Susan Schwab is a woman on a mission. The U.S. Trade Representative since April 2006, Schwab had little time to enjoy the unfettered, free-trade era of President Bush's first six years in office before Democrats regained control of Congress the following November. Now, with Democrats jumping off the free-trade bandwagon in droves, Schwab finds herself in the delicate position of pleading for support from the same Democrats who had been bulldozed by her White House boss for the better part of a decade. So far she has earned her stripes. Despite recent personal losses including the death of her husband, she managed in May to close a historic deal — in return for Democratic support, the Bush administration, for the first time ever, agreed to global standards for protecting workers and the environment. But the struggle to keep free trade alive is far from over, especially with Democrats, under intense pressure from organized labor, moving toward protectionism. The real test will come this fall, as trade agreements with four countries — South Korea, Peru, Panama, and Colombia — are debated on Capital Hill. A tall order to be sure, but as Schwab has proven before, she won't give up without a fight. In this article, students read about U.S. Trade Representative Susan Schwab's crusade to rescue free trade in an era of rising protectionism. Discussion Questions:
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