a

Level4

Unit1part1

CreatingaPPT

Tobrainstorm.

Tobrainstormmeanstodiscussideasorwaystosolveaproblem.

BeforeyoucreateaPowerPoint,youshouldbrainstormitsmainpoints.

Youcanaskyourselfsomequestionslike:

WhatarethemainpointsthatIwanttopresent.

Whatinformationwillmyaudiencebeinterestedtoknow?

Webrainstormedsomeideastomakeourpresentationmoreengaging.

Theybrainstormedtheirideasandwrotethemonawhiteboard.

Tooutline.

Weoutlinesomethingmeanstoroughlyplanoutthepointsorpartsofit.

Onceyou’vebrainstormedsomeideas,youcanoutlineyourPowerPoint.

Thiswillhelpyoustructureyourpresentation.

AfteroutlinehisPowerPoint,hedecidedtostarthistalkbyintroducinghiscompany.

AccordingtotheoutlineofhisPowerPoint,hewillanalyzepossiblethreatsattheend.

HeoutlinedhisPowerPointingreatdetail.

SheoutlinedfivestepsofthebusinessstrategyinherPowerPoint.

Tostructure.

Tostructuresomethingmeanstoorganizeorarrangeitinaparticularway.

Afteryou’veoutlinedyourPowerPoint,youneedtostructureit.

StructuringyourPowerPointallowsyoutolistyourmainpointsclearlyandlogically.

HestructuredhisPowerPointanddeletedsomeunnecessaryslides.

YouneedtostructureyourPowerPointtoconnectyourmainpoints.

Todesign.

Todesignsomethingmeanstodecidehowitwilllook.

AfteryouhavestructuredyourPowerPoint,youcanbegintodesignit.

WhendesigningaPowerPoint,youshouldconsideritslayout,visuals,andfont.

PeopledownloadPowerPointtemplateswhentheydesigntheirslides.

ThePowerPointtemplateisdesignedbyafreelancedesigner.

Torevise.

Torevisesomethingmeanstochangesomethingtoimproveit.

OnceyouhavefinishedyourPowerPoint,youmaywanttoreviseit.

Youmaybeabletomakeitevenbetterbeforeyoupresentit.

He’salmostfinishedhisPowerPoint,buthestillhasafewslidestorevise.

HemadesomeminorrevisionstohisPowerPoint.

PPTTerms

Slide.

AslideisapageinaPowerPointpresentation.

Ifyouhavetoomuchtextonaslide,youaudiencecangetbored.

Soyoushouldkeepyourslidessimplewithafewbulletpointsandimages.

Ihavemadetenslidesformypresentation.

Eachslideisaboutonminutelong.

He’sstillworkingontheslidesforhispresentation.

Layout.

Alayoutisthewayaslideisdesignedorarranged.

Inalayout,thefont,color,andtextsizeshouldbeconsistent.

Havingaclearlayoutmakesaslideeasytounderstand.

Thelayoutofhisslideswasalittleflashy.

Youcanmodifyslidelayoutstobetterconveyinformation.

Template.

AtemplateisamodelforcreatingaPowerPoint.

Itcontainslayoutsandbackgrounddesigns.

SavingaPowerPointasatemplateallowsyoutouseitagain.

Fornormalpresentations,youshoulduseatemplatewithyourcompany’slogo.

YoucandownloadPowerPointtemplatesforfreeonthiswebsite.

Presenternotes.

PresenternotesisthesectionbelowaslideinaPowerPoint.

Ifyouhaveextrainformationyouwanttouse,youcanputitinthenotes.

Youcanrefertopresenternoteswhengivingapresentation.

Whenyoupresent,youraudiencewillnotbeabletoseeyourpresenternotes.

DesignPrinciples

AgoodPowerPointshouldincludenotonlytext,butvisualsaswell.

VisualsinaPowerPointincludeimages,graphs,andanimations.

Withoutvisuals,youraudiencemayfindyourPowerPointboring.

RemembertomakeeachslideinyourPowerPointsimpleandclear.

Thelessyouhaveeachslide,themoreyouraudiencecanfocusonwhatyou’resaying.

Thefocusofapresentationshouldbeonyou,notyourPowerPoint.

SotreatyourPowerPointasavisualaid.

Thinkabouthowitcansupportandclarifyyourmainpoint.

Inapresentation,thestructureofyourargumentshouldbelogical.

Thereshouldbeaclearconnectionbetweenyourpoints.

DesignTips

AvisualthemeshowsthestyleordesignofyourPowerPoint.

HavingaconsistentvisualthememakesyourPowerPointlookprofessional.

ThevisualthemeofhisPowerPointreinforcesthesubjectwell.

Theirvisualthemeagreeswiththeirproducts.

Itshowcasesthephilosophyoftheirproductdesign.

High-resolutionimagescanbeenlargedwithoutbecomingblurry.

IfyouareprojectingyourPowerPointonalargescreen,usehigh-resimages.

Theimageseemstooblurrybecauseithasbeencompressed.

InaPowerPoint,thecolorofthetextshouldcomplementthecoloriftheslide.

Notenoughcontrastbetweencolorsmakesthetextdifficulttoread.

Butifyourcolorscontrasttoomuch,theycanbeunpleasanttolookat.

Thetextcolorcomplementswellthesimplebackgroundoftheslide.

HavingthecolorsonyourslidecomplementeachothermakesyourPowerPointvisuallypleasing.

Achartisavisualdisplayofinformation.

Itshowsinformationordataasagraphortable.

IfyouincludealargeamountofinformationinyourPowerPoint,youshoulduseachart.

Itwillhelpvisualizeitfortheaudience.

Inhispresentation,heillustratesalldatainapiechart.

Thechartvisualizesthetrendofstockpricesovertime.

PerfectingthePPT

HowdoesmyPPTlook?

well…itlooksabitmessy.Youshouldkeepitsimpleandconsistent.ThesimpleryourPPTlooks,theeasieritistounderstand.

Yeah.There’stoomuchtextonmyslides.

Right.Ifyouonlyhaveafewkeyphrasesinbulletpoints,itwillengagetheaudiencemore.

Butit’shardformetorememberallmypoints.

Thenyou’llhavetobefamiliarwithwhatyoupresentandpractice.Besidestrytousemoreimagesandgraphics.

Hum,yeah.Apictureisworthathousandwords.

Exactly.YoualsoneedtohaveaclearstylethroughoutyourPPT.Lookatthedifferencebetweentheseslides。

Hum,yeah…Theamountoftextoneachslidechangesalot.Andthesizeofthetextisalsodifferent….

Yeah，it’sveryimportanttokeepyourPPTconsistent.Also,yourpresentationneedsmorestructure.

whatdoyoumean?Ihavedividedmypresentationintoseveralparts.

Iknow,butit’shardtofigureoutalogicalconnectionbetweenthem.

part2

PreparingaPresentation

Herearesomesuggestionsonhowtoprepareforapresentation.

Defineyourgoal.

Whenpreparingyourpresentation,firstdefineyourgoals.

Yourgoalsarewhatyouwantyourpresentationtoachieve.

Settingcleargoalsensuresyourpresentationisfocused.

Forexample,ifyou’regoingtogiveasalespresentation,yourgoalwouldbetopersuadepeopletobuyyourproduct.

Listyourkeypoints.

Onceyou’vedefinedyourgoals,youshouldthinkofyourkeypoints.

Keypointsarethemainideasofyourpresentation.

Listingthemallowsyoutoseewhichonessupportyourgoalsthebest.

Forexample,ifyou’regoingtopromoteanewproduct,yourkeypointscouldbetheproduct’snewfeature.

Createyourslides.

Onceyouhavedefinedyourgoalsandkeypoints,youcanthencreateyourslides.

Inapresentation,thespeakershoulduseslidesasavisualaid.

Remembernottoputtoomuchtextonyourslides.

Goodslidessupportwhatyou’resaying,butdon’tdistracttheaudience.

Anticipatequestions.

Afteroreevenduringyourpresentation,theaudiencewillusuallywanttoaskquestions.

Soyoushouldlearnhowtoanticipateandanswercommonquestions.

Forexample,ataproductlaunch,theaudiencewillprobablyaskfordetailsaboutproductfeatures.

Sohavingain-depthunderstandingofthenewproductiscrucialwhenpreparingforthepresentation.

Rehearse.

Onceyou’vefinishedyourslides,youshouldrehearseyourpresentation.

Youcanpracticeinfrontofamirrororwithafriend.

Whenpracticing,timeyourrehearsalandpracticeseveraltimes.

Thishelpsyoupresentsmoothlyandconfidently.

PresentationStructure

Awell-structuredpresentationconveysyourideasandengagesyouraudience.

Herearesomecommonpartsofapresentation.

Introduction.

Theintroductionisthestartofyourpresentation.

Astrongintroductionshouldgrabyouraudience’sattentionandinterest.

Forexample,youcouldbeginyourintroductionwithaninterestingstoryorquestion.

Sometimes,youmayalsoexplainwhyyou’regivingyourpresentation.

Butkeepyourintroductionshortenoughtohavetimeforyourmainpoints.

Mainbody.

Afteryourintroduction,youneedtosmoothlymovetbodyofyourpresentation.

Themainbodyiswhereyouexplainandsupportyourkeypoints.

Inthebodyofyourtalk,yourpointsshouldflowtogetherlogically.

Youcanorganizethembythemeorbyimportance.

Remembertohavecleartransitionsfrompointtopoint.

Youcanusetransitionwordssuchasfirstofall,then,next,orfinally.

Conclusion.

Yourconclusionisthefinalpartofyourpresentation.

Itiswhereyoushouldsummarizeyourkeypointsandexplainwhytheyareimportant.

Donotrepeateverythinginthemainbodyorintroducenewinformationinyourconclusion.

Yourconclusionshouldbeshortandconcise.

Q&Asession.

Afteryou’vegivenyourpresentation,therewillusuallybeaQ&Asession.

Thisiswhereyouraudienceasksaboutyourtalk.

Soremembertoprepareanswersforcommonquestionsbeforehand.

Butifyoureallycan’tansweraquestion,simplesayyoudon’tknow.

Whentherearenomorequestions,don’tforgettofinishthepresentationwithasimple“thankyou”.

PresentationEquipment

Amicrophone.

Amicrophoneisusedtomakeyourvoicelouder.

Ifyouarepresentinginalargespace,youprobablyneedtouseamicrophone.

Wirelessmicrophonesareidealforpresenterstomovearoundfreely.

Bywearingaheadsetmicrophone,hecandemonstratetheproductwithbothhands.

Aremotecontrol.

Aremotecontrolisusedtocontrolyourslideshoworcomputerfromadistance.

Alaserpointerisbuiltintothisremotecontrol.

Hisremotecontrolbrokeinthemiddleofhispresentation.

Avideoadapter.

Avideoadapterisaplugusedtoconnectyourcomputertoaprojector.

Youwillneeditifyourcomputerisn’tcompatiblewiththeprojector.

YoulaptoponlyhasUSB-Cports,soyouneedanadaptertoconnecttotheprojector.

Canyoupleasefindmeatype-Cvideoadapter?Mylaptopisn’tcompatiblewiththeprojector.

Ahandout.

Ahandoutisadocumentgivenoutduringorbeforeapresentation.

Usually,itcontainsasummaryofthepresentation.

Itmayalsoprovidesupportinginformationthat’snotincludedinthetalk.

Beforewemoveontoournexttopic,Iwouldlikeyoutolookatthishandout.

Yourhandoutshouldfollowthesamestructureofyourpresentation.

PresentationTips

Herearesometipsonhowtodeliveragoodpresentation.

Projectconfidence.

Projectingconfidenceisthefirststeptomakingagoodpresentation.

Aconfidentspeakerisoftenpersuasiveandisusuallytakenmoreseriouslybyanaudience.

Toimproveyourconfidence,youcanworkonyourpostureandvoice.

Standingupstraightandspeakingloudlyhelpconveyauthority.

Encourageparticipation.

Participationkeepstheaudienceinvolvedandengaged.

Toencourageparticipation,youcanaskquestionsorinvitepeopleuponstage.

Ifyouspeaklikeyouarereadingoffacard,theaudiencewillloseinterest.

Knowwhentopause.

Pausinghelpscreateadramaticeffectthatdrawsyouraudiencein.

Whenyouwanttoemphasizeapoint,pauseafteryousayit.

Itsinglesthatyouraudienceshouldthinkaboutwhatyoujustsaid.

Youcanalsopauseafterpresentingcomplexinformation.

Thisgivestheaudiencetimetoprocessit.

Movenaturally.

Goodbodylanguageplaysanimportantroleinapresentation.

Movingyourhands,head,andupperbodynaturallymakesyoulookconfidentandrelaxed.

However,ifyoumovetoomuch,youmayseemnervous.

PresentationFeedback

part3

MeetingVocabulary

Meetingagenda.

Ameetingagendaisalistofitemsthatarediscussedduringameeting.

Tohaveawell-organizedmeeting,youshouldprioritizetheagendaitems.

Here’saprint-outoftheagendaforthemeeting.

Haveyouallreceivedacopyofthemeetingagenda?

Meetingminutes.

Meetingminutesareasetofnotesthatrecorddecisionsmadeduringameeting.

Afterameeting,youcandistributethemeetingminutestoremindpeopleofwhatwasdiscussed.

HerearetheminutesfromourmeetingonFriday.

Pleasefindtheminutesoftoday’smeetingintheattachedfile.

Actionplan.

Anactionplanliststhestepstotakeafteradecisionhasbeenmadeinameeting.

Withoutaclearactionplan,peoplemaynotknowwhattodonext.

Theyrevisedtheactionplantofitthechangingneedsofthecompany.

Allattendeesarerequiredtofollowupontheactionplan.

Consensus.

Aconsensusisanopinionthatallmembersofagroupagreewith.

Ifattendeesofameetingdon’tshareacommongoal,theyprobablywon’treachaconsensus.

Wemanagedtoreachaconsensusonthebudgetplan.

Wewereunabletoreachaconsensusaboutthemarketingstrategy.

Ballot.

Aballotisasystemofsecretvoting.

Ifthere’sanareaofdisagreementduringameeting,peoplecanputittotheballot.

Theyfailedtoachieveconsensus,sotheyputthedecisiontotheballot.

Attheendofthemeeting,theyheldaballottodecidetheissue.

Allattendeescasttheirballotinsecret.

ChairingaMeeting1

Herearesometipsonhowtorunaneffectivemeeting.

Statetheobjective.

Atthebeginningofameeting,youshouldstatetheobjectivesclearly.

Ithelpseverybodyunderstandthepurposeofthemeeting.

Withoutaclearobjective,attendeesofthemeetingmaylosefocuseasily.

Herearesomewaystointroduceameetingobjective.

We’reheretodaytodiscussournewmarketingstrategies.

Ouraimistofigureoutnewpromotionstrategies.

Reviewnotesofthelastmeeting.

Youcanuseyournotesfromyourlastmeetingtoguideyourcurrentone.

Youcanreviewprevioustakeawaysbeforepresentingnewideas.

I’dliketoquicklygothroughwhatwedecidedatyesterday’smeeting.

Let’sgooverthebudgetplanfromthelastmeeting.

Allocateresponsibilities.

It’simportanttokeeptrackofwhat’sdiscussedinthemeeting.

Somakesuretoallocaterolestoattendees.

Forexample,youcanpolitelyasksomeonetotakenotesbysaying:“Wouldyoumindtakingthemeetingminutes?”

Youcouldalsoinformattendeesthatsomeoneisresponsibleforacertaintask:

Annahaskindlyagreedtobethetimekeeperforus.

Introduceyourfirstagendaitem.

Beforeyoustartyourmeeting,makesureeveryonehasthemeetingagenda.

Thenyoucanpresentagendaitems.

Youshouldbeginwiththemostimportantitemontheagenda.

Tointroduceit,youcansay:

Let’sstartwithournewmarketingstrategies.

Thefirstitemontheagendaishowtomakeouronlineadvertisingmoreeffective.

Closeanagendaitem.

Afterdiscussinganagendaitem,letattendeesknowthatthediscussionshouldmoveforwardontothenextitem.

Youcandothiswithaclosingstatement.

Forexample,youcansay:

Let’smoveontothenextitem.

Itlookslikewe’vecoveredthemainpointsofthisitem.

Ifnoonehasanythingelsetoadd,wecancontinueontothenextitem.

Toinvitepeopletodiscussion.

Torunaneffectivemeeting,youneedtoencourageattendeestoparticipate.

Toinviteotherstoexpressopinions,youcouldaskquestionslike:

Wouldyouliketoshareyourthoughtsonthistopic?

Chairingameeting2

Toinvitepeopletodiscussion.

Torunaneffectivemeeting,youneedtoencourageattendeestoparticipate.

Toinviteotherstoexpressopinions,youcouldaskquestionslike:

Wouldyouliketoshareyourthoughtsonthistopic?

Canwegetyourinputonthisissue?

Whatareyourthoughtsaboutthisissue.

Tohandover.

Differentattendeesmaytaketurnsleadingameeting.

Whenhandingovertootherstopresentideas,youcansay:

I’dlikehandovertoAnna,whoisgoingtoleadthenextpoint.

Alright,nowAnnawillhavethefloor.

Managetime.

Tohaveaproductivemeeting,it’simportanttomanagetimeeffectively.

Ifsomeonetalksfortoolong,youcaninterruptthempolitely:

Wecandiscussthatattheendifyoufeelit’simportant.

Ithinkwehavespentenoughtimeonthistopic.Let’smoveontothenextitem.

Let’smoveon.Weneedtomakesurewehaveenoughtimefortherestoftheitems.

Keepthemeetingfocused.

Asachairperson,it’syourjobtokeepthemeetingfocused.

Timewillbewastedifpeoplebringupunrelatedissues.

Ifthediscussionbeginstolosefocus,remindeveryoneofthemeeting’sobjective.

Youcansay:

Let’snotgettoofaroff-topichere.

We’resupposedtobediscussingoursalescampaign.

That’sagoodpointbutweneedtofocusonouragendaitems.

Perhapswecanaddthattopictotheagendaofthenextmeeting.

Tosummarize.

Attheendofameeting,youshouldsummarizethemainpoints.

Thiscanhelpattendeesunderstandtheoutcomesofthemeeting.

Youcanbeginyoursummarywith“Tosumup”or“Inbrief”.

Oryoucansay:

Beforeweclosetoday’smeeting,letmesummarizethemainpoints.

Letmequicklygoovertoday’smainpoints.

ExpressingYourself

Tobetterparticipateinameeting,youneedtoletyourvoicebeheard.

Herearesomecommonexpressionsusedwhenattendingameeting.

Tomakesuggestions.

Makingsuggestionsisagoodwaytocontributetomeetings.

Normally,suggestionswith“Isuggest”and“Weshould”arestrongerthanthosewith“Howabout”and“Perhaps”.

Herearesomeexamples:

Isuggestweimprovetheuserinterfaceofourwebsite.

Weshouldn’trushintothisnewcampaign.

Howaboutimprovingtheuserinterfaceofourwebsite?

Perhapsweneedtoconsideracheapersolutionasourbudgetistight.

Toagree.

Besidesmakingyourownsuggestions,youalsoneedtoreacttoothers’suggestions.

Youcanagreewithpeoplebusaying:

That’sjustwhatIwasthinking.

Icouldn’tagreemorewithAnna.

IhavetosidewithAnnaonthisissue.

Todisagree.

Attendeesmayhavedifferentopinionsaboutaparticularissue.

Saying“Idisagree”directlyinameetingcanbeconsideredimpolite.

Instead,youcanpolitelydisagreewithsomeonebysaying:

Tobehonest,I’mnotsureaboutthat.

Ibegtodiffer,Idon’tthinkthisisthepriorityrightnow.

Iseeyourpoint,butIdon’tthinkadvertisingonTVisagoodidea.

Toaskforclarification.

Ifyoudon’tunderstandwhatpeoplearesaying,askthemtoclarifytheirpoint.

Askingquestionsearlyoncanhelpyouavoidmakingmistakeslater.

Idon’tquitefollowyou.Couldyoupleaseclarifythisforme.

I’mafraidIdon’tquiteunderstandwhatyouaregettingat.

Couldyougivemesomefurtherclarification,please?

PreparingforaMeeting

part4

BusinessLifecycle

Theseedstage.

Thefirststageofanewcompanyisknownastheseedstage.

Duringtheseedstage,acompany’sfoundersseekinvestmentstobuildtheirbusiness.Theseinvestmentsusuallysupportproductdevelopment,marketresearch,andbusinessstrategy.

Thatcompanyattractedmanyangelinvestorsduringtheseedstage.

Theircompanyreceivedimpressiveseedstagefunding.

Thestartupstage.

Inthestartupstage,acompanyestablishescommercialoperations.

Duringthisstage,acompanyhasamanagementteam,abusinessplan,andaworkingproductorservice.

Companiesinthestartupstageusuallybeginearningrevenue,butdonotmakeaprofit.

Venturecapitalistsliketoinvestinstartupcompaniesbecauseoftheirgrowthpotential.

Thegrowthstage.

Whenacompanyreachesthegrowthstage,itbeginstomakeaprofit.

Itoftenexpandsitsoperationandworkforce.

Duringthisstage,effectivemanagementandamaturebusinessmodelarenecessarytomaintaingrowth.

Manyprivateequityfirmshaveinvestedinthatcompanyandexpectittogrowquickly.

Thecompanyenjoyedarapidgrowthinsalesinitsgrowthstage.

Thematuritystage.

Acompanyreachesmaturitywhenithasestablishedastablepercentageofmarketshare.

Atthisstage,thecompany’sgrowthratetendstobelowerthanatpreviousstages.

Inordertoboostgrowth,acompanymayexpandintonewmarketsorproductcategories.Forexample,manyChinesesmartphonecompaniesinthematuritystagehaveexpandedtoIndiaandAfrica.

Efficientmanagementcanprolongthematuritystageofabusiness.

Thedeclinestage.

Whenabusinessstartstolosemarketshare,itentersthedeclinestage.

Poormanagement,increasedcompetition,andashrinkingmarketcancauseacompanytogointodecline.

Unlessactionistaken,acompanyindeclinecouldgooutofbusiness.

Afterchangingitsfocus,Microsoftstoopeddecliningandtripleditsstockpriceinfouryears.

Theyimplementedanewmarketstrategytostoptheirsalesdecline.

Theirsalessufferedahugedeclineduetotechnologicalchanges.

KeyCompanyElements

Missionstatement.

Acompany’smissionstatementdefinesitspurpose,goals,andvision.

Agoodmissionstatementismorethanjustwords.

Astrongmissioncanmotivateemployeesandattractnewtalent.

Theirmissionstatementhasremainedunchangedforfiftyyears.

Theirmissionistoempowereveryonetoachievetheirfullpotentialandbecomeaglobalcitizen.

Businessstrategy.

Abusinessstrategydefineshowacompanywillachieveitsgoals.

Itisusuallydecidedbyaleadershipteamthatincludesthecompany’sCEOandBoardof

Directors.

Abusinessstrategytypicallycoversaperiodofthreetofiveyears.

Frequentchangesinbusinessstrategyoftenindicateacompanyisunstable.

Theysaidthattheircurrentdeclineinsaleswouldnotaffecttheirbusinessstrategy.

Theyneedaninnovativebusinessstrategytoincreaserevenue.

Organizationalstructure.

Anorganizationalstructuredetermineshowactivitiesaredirectedwithinacompany.

Theseactivitiesincludeacompany’srules,responsibilities,andjobfunctions.

Ifacompanymergeswithanother,itislikelytoexperiencechangestoitsorganizationalstructure.

Thefutureorganizationalstructureofthecompanyisstillunderdiscussion.

Thecompanyadoptedaneworganizationalstructureafterbeingacquired.

Organizationalculture.

Companycultureisasystemofsharedvaluesandbeliefswithinanorganization.

Forexample,Huaweidefinesitsorganizationcultureas“wolf-culture”.

Itencourageditsemployeestoworktogether,embracechallenges,andbesensitivetomarkettrends.

Ifaculturedoesnotkeepemployeesmotivated,itmayhurtacompany’sproductivity.

Thecompanyencouragesacultureofcreativityandfreediscussion.

Itscompanycultureiscenteredonthehealthandwell-beingofemployees.

BusinessActions

Toexplorethemarket.

Beforeabusinessentersamarket,itwillexploreit.

Thismeansitwillidentifyopportunities,researchcompetitors,andexaminecustomerneedsinthemarket.

TheiractiveexplorationofAsianmarketshasprovedahugesuccess.

Tolaunchproducts.

Aproductlaunchiswhenacompanyintroducesanewproducttothemarket.

Ittypicallyinvolvesanadvertisingcampaignandmakingtheproductavailabletopurchase.

Applelaunchesalwaysdrawalotofmediaattention.

Thecompanyrevealeditsnewlaptopatthelaunchevent.

Toinvestinresearch.

AcompanyinvestsinR&Dtodevelopnewproductsandremaincompetitive.

R&Dcanberiskybecauseitinvolvestryingnewanduntestedideas.

BeforeinvestinginR&D,acompanyshouldweighthepotentialcostsandbenefits.

ThebestwayforabigcompanytostayinnovativeistoinvestinR&D.

Tocollaboratewithotherbusinesses.

Businessescollaboratetogetherwhentheyworkonthesameproject.

Itinvolvessharingresourcestoachieveacommonobjective.

Goodmanagementandcommunicationarecriticalforcollaboration.

UniqlohascollaboratedwithDisneytofeatureprintedT-shirts.

Thetwocompanieshavebeennegotiatingacollaboration.

Tostreamlinebusinessprocesses.

Abusinessstreamlinesitsprocessesinordertoimproveefficiency.

Thismeanssimplifyingorreducingstepsthatdonotaddvalue.

Complicatedbusinessprocessescanhurtacompany’sproductivity.

Theystreamlinedtheproceduretocutthedeliverytime.

Managementconsultingcompanies,suchasMcKinsey,canhelpstreamlinebusinessprocesses.

CompanyMilestones

Toestablish.

Toestablishacompanymeanstostartone.

Itinvolvesmakingabusinessplan,choosinganoffice,andapplyingforpermitsandlicenses.

ManyInternetentrepreneursestablishedtheirbusinessesintheirtwenties.

Manycountriesprovidesupportforcollegestudentstoestablishtheirownbusinesses.

Tomerge.

Whentwocompaniesmerge,theycombineintoalargercompany.

Amergeroftenhappenswhentwocompaniesofasimilarsizeagreetoenterapartnership.

Mergersallowcompaniestocombinetheirresourcesandincreasetheirmarketshare.

Mergerscanhelpbusinessesbettercompeteintheinternationalmarket.

Toacquire.

Toacquireacompanymeanstobuyit.

Anacquisitionusuallyhappenswhenalargercompanydecidestopurchaseasmallerone.Throughanacquisition,thebuyingcompanycanacquirenewresourcesandalargemarketshare.

Beforeanacquisition,thebuyingcompanywillanalyzehowprofitabletheacquisitioncouldbe.

TheyrejectedanacquisitionproposalfromApple.

WhenMicrosoftacquiredNokia,tensofthousandsofemployeeslosttheirjobs.

Togopublic.

Whenacompanygoespublic,ittransfersownershipfromprivateindividualstothepublic.

Aftergoingpublic,acompanycantradeitssharesonthestockmarket.

Thismeansthecompanyhasaccesstomorecapital.

Butitalsomeansthecompanywillhavemorepressurefromshareholderstobeprofitable.

ThecompanywentpublicinSeptemberatthirteendollarsashare.

Marshasnointentiontogopublic.

Togobankrupt.

Acompanythatisunabletopayitsdebtscanfileforbankruptcy.

Whenacompanygoesbankrupt,itsassetsaresoldtopayoffitsdebt.

Thecompanywasdeclaredbankruptbythecourt.

Ifwefailtorecoverlossesimmediately,wewillgobankrupt.

LehmanBrothers’bankruptcyledtoanearthquakeinglobalmarkets.

AChangingCompany

part5

CompanyPackages

Compensation.

Compensationisthemonetaryandnon-monetarybenefitsgiventoemployees.

Atypicalcompensationpackageincludesasalary,bonus,andinsurance.

Somecompaniesalsoprovideotherbenefits,suchasfreefoodandgymmembership.

Agoodcompensationplancanimproveemployeesatisfaction.

Beforeacceptingajoboffer,youshouldevaluateitscompensationpackagecarefully.

Heacceptedthejobwithoutnegotiatingacompensationpackage.

Shereceivedahousingallowanceaspartofhercompensationpackage.

Salary.

Asalaryisafixedamountofmoneypaidtoemployeesinreturnfortheirwork.

Itispaidregularly,usuallyonamonthlybasis.

Ifemployeesperformwell,theymaygetasalaryraise.

Heearnsanannualsalaryof$50,000.

Shedidiagreatjoblastquarter,soshegotathirtypercentsalaryincrease.

Bonus.

Abonusisextramoneygiventoemployeesinad