Hard Skills Vs Soft Skills

Management and Globalization Global Management Why companies go global How companies for global Global Business environments Global Business Types of global business Pros and cons of global businesses Ethnic Challenges for global business Culture and Global Diversity Cultural intelligence Silent language of culture Tight and loose cultures Values and national cultures Global Management Learning Are management theories universal? Intercultural competencies Global learning goals Key concepts of the challenges of globalisation: Global economy Resources, markets and competition are worldwide in scope Internationalisation The process of increasing involvement in international operations Globalization/Deglobalization Glob- the growing interdependence among elements in the global economy The worldwide interdependence of resource flows, product markets and business competition World 3.0 Different views: World flat vs. round Distance is a metaphor that represents the degree of dissimilarities between countries Balancing cooperation in the global Global Management Global management - managing things in different countries Managing business and organizations with interests in more than one country What do we expect from global Managers Knowing how to adapt Knowing the language Global Manager Is culturally aware and informed on international affairs International Business Conducting for-profit transactions of goods and services across national boundaries International Motive Why do firms internatioalize their activities Cheaper labour Labour tax Natural resources Enrolments to do business Clientele Exclusive materials Personal benefits: Taxes Reasons why businesses go global Customers Suppluers Capital During (1993) - 4 motive 1. Market seeking 2. Efficiency Seeking 3. Resource seeking 4. Strategic Asset Seeking Cuervo Cazurra, Narula and un (2015) - 4 motive s Internationalization Motives A company may also explore the opportunities in different markets in order to take advantage and in some cases extend the product life cycle What is a Market Entry Strategy Involves the sale of goods or services to foreign markets but do not require expensive investments Franchising Exporting and importing Involve the sale of goods or services to foreign markets but do Types of market entry strategies Global sourcing Exporting Importing Licensing agreement Franchising Types of Foreign Direct Investment (FDI) strategies: Joint venture Strategic alliance Owned Subsidiary (sometimes called WOS) How to go abroad What conditions will affect the decisions of firms on how to internationalize their activities? During (1978)- Eclectic paradigm OLI model OLI- Ownership, Location and Internalization Advantages Ownership advantages Resources owned by the organization that can be transferred across locations include trademarks, production techniques and processes, managerial skills and other resources not available to the competitors Location Advantages Represent the implications of choosing to produce or to perform activities in a specific location (country or region) Internalization Advantages: The ability to internalize or to incorporate activities that add value to its business Evolution of Concepts- New Elements Although economic factors are certainly important to explain the formation, growth and expansion of firms within and across national borders, they are not sufficient to explain the additional complexity when a firm decides to expand its activities across national borders Economic factors Investigate the economic elements that affect the internationalization of firms Behavioural Elements Explaining the additional challenges (and perhaps opportunities) a firm faces in foreign host countries when compared to indigenous (local) firms Behavioural theories Johanson and Wiedersheim-Paul (1975) and Johanson and Vahlne (1977) Included the psychic Distance concept (beckerman,1956) to explain the internationalization behaviour of firms The Uppsala internationalization model Psychic distance is: the sum of factors preventing the flow of infomatio from and to the market Psychic Distance is a broad concept that includes several elements such as: language, culture, political systems, level of education, level of industrial development Firms behave in a “Risk Averse” manner It means that when the perceived risk goes down, the firm increase its commitment to the foreign market \ The Haier Group Data Strategy Big DATA and Small DATA The use of small data to satisfy individual customers’ needs, however, the book mentions a huge cultural shock at the plant in Camden, south caroline Ex: top down, hard hat colors and hierarchy Culutral Differnces can have a huge impact on the internationalization of firms Kogut and Singh (1988)- Cultural Distance Index First statsical study on the implication of ciltiral distance to the selection of entry mode When investigating in culturally distant countries, foreign firms can choose to partner with foreign firms in order to gain local knowledge and share the risk associated to the investment (higher commitment = higher risk) How Companies Go Global Global sourcing The process of purchasing materials or services around teh world for local use Exporting Selling locally made products in foreign markets Importing Buying foreign made products and selling them domestically Exports correspond to what percentage of Candain GDP What countries are the major trending partners of Canada Management and Globalization How Companies Go Global Licensing Agreement One firm pays a fee for rights to make or sell another company’s products What are the potential risks associated to licesning The case of new balance in China Franchising A fee is paid for the rights to use another firms name, branding and methods Insourcing Insourcing: refers to local job creation that results from foreign direct investment Types of insourcing Joint ventures: operate in a foreign country through co-ownership by foreign and local partners Strategic alliances: A partnership in which foreign and domestic firms share resources and knowledge for mutual gains Foreign subsidiaries: local operation completely owned by a foreign firm Criteria for choosing a joint venture partner: Familiarity with your firm’s major business String local workforce Values its customers Future expansion possibilities Strong local market for partner’s own products Good Profit potential Sound financial standing Global business environments Legal and poliical systems Trade agreements and trade barriers Regional economic alliances Legal and political systems Differing laws and practices regards Business ownership Negotiation and implementation of contracts Foreign currency exchange Protection of intellectual property rights Counterfeit merchandise Political risk Potential loss in value of foreign investment due to instability and political changes in the host country Political risk analysis (expertise/experience) Forecast political disruptions that threaten the value of a foreign investment Changes in the rules of the game Brexit US Trade Wars-mexico-China Other examples Bolivia, Venezuela, China De-globalization The process of weakening interdependence among nations Trade Agreements and trade Barriers World trade organization Most favourd nation status Tariffs Nontariss barriers (quotes, restrictions, etc.) Protectionism Regional Economic Alliances USMCA (replacment for the NAFTA-North American Free trade Agreement) EU- European Union APEC- Aisa Pacific Economic Copperation ASEAN - Association of Southeast Asian Nationas SADC - Southern Africa Development Community MERCOSUR- Chapter 5- Global Management and Cultural Diversity (part 2) Review Types of global business Global corporation MNE (multinational enterprise) or MNC (multinational corporation) with extensive business operations in more than one foreign country Transnational corporation A global corporation that operates worldwide on borderless basis Some host country complaints about MNCs Host Country companits about MNCs: Excessive profits Interference with local government Domination of local economy Interference with local government Hiring the best local talent Limited technology transfer Disrespect for local customers Examples - War in Ukraine Disruption in global -value chains and increased pressure and interference of MNCs with local government Fertilizer imports in Brazil (one of the major producers of agricultural commodities) We must consider the triple bottom line and the impact in society, the environment and the economy $2.5 billion invest in potash mine in Brazill What about Globalization gap Large multinationals adn industrilizednaitons gaining disporoportinonally form globalization Globalization gap: Large multinational and industrialized nations gaining disproportionally from Globalization Some MNC complaints about host countries MNC Complaints about host countries: Profiit limitations Laws and regulations Overpirce resources Exploitative rules Foreign exchange restriction Failure to uphold contracts Mutual benefits for host countries and multinational companies Mutual benefits for host country and global corporation of MNC: Shared growth opportunities Shared income opportunities Shared learning opportunities Share development opportunities Develop projects together What are some of the ethical challenges for global business Ethincal challenges for global business Child labour Employmnet of children for worl otherwise done by adults Sweatshops Employment of workers at very low wages for long hours in poor working conditions Ex: Nike bad labour prices Unsafe working conditions Corruption Illegal practices that further one’s business interests Corrupiotn of froeign public officials Act makes it illegal for Candain firms and their representatives to engage in corrupt practices overseas Bribes to foreign officials Excessive commissions Non-monetary gifts Sweatshops Conflict materials What is culture Culture : The shared set of beliefs, values, and patterns of behvaiourr common to a group of people Food preferences Values and traditions Language and beliefs Religion Art music Life style Hofstede defines culture as: “The collectiv programing of teh mind distinguishing the members of one group or category of people from others” What is culture shock Culture Shock: Confusion and discoumfert a person experiences in an unfaamiliar culture Stages to adjusting to a new culture Confusion Small vitorires The honeymoon Irritation and anger Reality Cultural Intelligence The ability to adapt and adjust to new cultures What is Ethnocentrism Tendency to consider one’s own culture as superior others Slinet languages of culture Contect Low context High context Space Proxemics Ex: personal space Time Monochronic Polychronic High and low contexts cultures Edward T.Hall (1959) Def: Part of a discourse that surround a word or passage and can throw on its meaning Low context cultures Emphizes communication via spoken or written words Countries like United States, Canada and Germany High context cultures Rely on nonverbal and situational cues as well as on spoken or written works Thailand Malaysia Time Monochronic cultures People tend to do one thing at a time Canda Polychronic cultures Time is used to accomplish many different things at once Egypt Space Proxemics Study of how people use space to communicate In North American people value “personal space’ Many Latin and Asian cultures expect much less personal space Tight and Loose Cultures Cultural tightness-looseness Tight = Strength of norms that govern social behvaviour Japan, Korea, Malaysia Loose = tolerance for any deviation from norms Australia, Brazil, Hungary Values and national cultures (Hofstede) Power distance Uncertainty avoidance Individalism-collectivism Masculinity-femininty Time Orientation Indulgence vs. Restraint Comparative management How management pratices systematically differ among countries and /or cultures Intercultural competencies Skills and personal characteristics that help us be successful in cross cultural situations Global Managers (know how to adapt) Need to successfully apply management functions across interantional boundaries Global Learning goals Not universal Engage critical thinking Look everywhere for new management ideas Always consider culture

Soft skills and hard skills

1. Что такое "soft skills"? Ответ: "Soft skills" - это навыки мягкого характера, такие как коммуникация, управление временем, лидерство, способность к сотрудничеству и прочие навыки, которые помогают человеку успешно взаимодействовать с другими людьми. 2. Какие основные компетенции входят в категорию "soft skills"? Ответ: Основные компетенции "soft skills" включают в себя умение эффективно общаться, работать в команде, решать конфликты, принимать решения, управлять временем, адаптироваться к изменениям и многое другое. 3. Почему "soft skills" важны в современном мире труда? Ответ: "Soft skills" важны, потому что они помогают улучшить процесс коммуникации, повысить профессиональную эффективность, укрепить отношения с коллегами и руководством, а также повысить шансы на карьерный рост. 4. Можно ли развить свои "soft skills"? Ответ: Да, "soft skills" можно развивать. Это происходит через самосознание, обучение, тренировки, практику и получение обратной связи от окружающих. 5. Какие "soft skills" наиболее ценятся работодателями? Ответ: Работодатели наиболее ценят коммуникационные навыки, лидерские качества, способность к сотрудничеству, а также умение быстро адаптироваться к изменениям и решать проблемы. 6. В чем отличие "soft skills" от "hard skills"? Ответ: "Hard skills" - это конкретные технические знания и навыки, в то время как "soft skills" - это личностные качества и навыки, которые не связаны напрямую с конкретной профессией. 7. Как "soft skills" могут помочь в повседневной жизни, а не только в карьере? Ответ: "Soft skills" могут помочь в повседневной жизни, облегчая общение с окружающими, улучшая отношения в семье и с друзьями, помогая решать конфликты и достигать личных целей. 8. Могут ли "soft skills" помочь в профессиональном развитии? Ответ: Да, "soft skills" могут существенно помочь в профессиональном развитии, так как они позволяют эффективно взаимодействовать с коллегами, решать проблемы, принимать решения и развивать свои лидерские качества. 9. Какие курсы или тренинги рекомендуется пройти для развития "soft skills"? Ответ: Для развития "soft skills" можно пройти курсы по коммуникации, лидерству, управлению временем, развитию конфликтных ситуаций, принятию решений, а также пройти тренинги по развитию эмоционального интеллекта. 10. Как можно использовать "soft skills" в задачах самоуправления? Ответ: "Soft skills" могут использоваться для повышения эффективности самоуправления, помогая лучше понимать свои цели, управлять временем, развивать личные качества и добиваться желаемых результатов.

Write 5 multiple choice questions for the following transcript ...Setting goals and budgeting. [tranquil music] Getting where you want to be involves three important skills. Setting realistic goals, knowing your net worth, and budgeting. [energetic music] Setting goals is a way to get control of your life. A goal is not the same as a dream. It's not pie in the sky stuff. It's something that's achievable and it comes with a time frame. If you have a big goal, like buying a house in five years' time, you might need a plan that involves a whole series of mini goals to get you there in stages. The important is finding something you know you can do. Most people find longterm goals hard to stick to. Don't worry about it. If 10 years seems too far away, set your horizons a little closer. Give yourself a set sum of money to save in the next few years. You can use it as a springboard to get to your next goal and it'll get you in the savings habit. Changes in your life circumstances may also affect your goal, so use this opportunity to review them. Think about your financial goals when you have some quiet time. It may sound a little obsessive, but write down what they are and how you're going to achieve them. Be specific, be realistic, and always, always keep your goals within reach. Achieving a goal is a great excuse to celebrate, so don't forget to reward yourself for your achievement. [energetic music] Imagine if tomorrow you had to sell everything you own and pay off everything you owe the bank or anyone else, would you be left with much? Would you be left with anything? That figure is called your net worth. It's a measure of your actual financial wealth and growing it over time is what getting sorted is all about. Use Sorted's net work calculator to find out where you're at. Decide what you want your net worth to be in a year's time. Think about your cash and other assets and work out how you might get there. Monitoring and growing your net worth over time is the thing that will eventually get you to retirement in good shape. [energetic music] Budgeting is another one of those, I can't believe I didn't do something so basic, type of things. Do a budget. Stick to it and you're in control. There are two approaches to budgeting. The first is what we call cold turkey. Each time you get paid, you work out what you need to pay for all your essentials. Use Sorted's budget calculator to do this. You then take the rest and put it straight into savings. Going cold turkey on all those other things that you usually throw your money away on. Be realistic with your savings. Don't be too hard on yourself as it could take time for you to get into the saving habit. But if you remove the temptation to spend, you'll improve your financial position each month. If that seems a bit rigorous, try the alternative nip and tick approach. Do a budget using Sorted's budget calculator and then take a hard look at where your money's going. We're prepared to bet there's a nip here and a tuck there that will result in savings and every month you save, you increase your net worth. So go to it. ChatGPT What are the three important skills needed to achieve your financial goals? A) Budgeting, investing, and saving B) Setting realistic goals, knowing your net worth, and budgeting C) Planning, tracking, and monitoring How can you make a big goal more achievable? A) By dreaming about it often B) By breaking it down into a series of mini goals C) By setting a longer time frame What is net worth? A) The amount of money you have in savings B) The value of everything you own minus what you owe C) The amount of money you earn each year What are the two approaches to budgeting mentioned in the transcript? A) Cold turkey and warm turkey B) Nip and tuck and cold turkey C) Nip and tick and warm turkey How can you increase your net worth every month? A) By dreaming about your financial goals B) By sticking to a budget and removing the temptation to spend C) By investing in high-risk stocks

Gever Tulley is a computer scientist from California. In 2005, he started a summer programme for children called Tinkering School. The idea was that children can learn important skills for life by building things together. Gever Tulley and his team help the children to think big and create plans for innovative things they want to build. Children have made fantastic things since the school started. They have built a rollercoaster. They have made a rope bridge from plastic shopping bags. They have made tree houses, wooden motorbikes and boats. At Tinkering School, children get all kinds of materials like wood, metal, plastic, nails and ropes. They get lots of real tools too, such as knives, hammers, screwdrivers and power drills. Some children have cut themselves when using a knife, or hurt their fingers when using a hammer. Tinkering School has been around for many years now, but nobody has ever suffered a serious injury in all those years. This is because there are strict health and safety regulations they must follow. The children always learn how to use the tools safely and they must wear the right clothing and protection at all times. Gever Tulley's ideas have worked very well. A lot of children have gone to his summer schools over the years. In 2011, Gever Tulley and a colleague decided to create a 'real' ! school, called Brightworks, in San Francisco. The school is very small-it only has 20 students aged 6 to 13. Brightworks is based on the same principles as Tinkering School. Since it started, Brightworks has been written about a lot. Most of those articles have been very positive. They have praised the quality of the school. They have found the children are more motivated than at many other schools. But since the beginning of the school there have also been critical voices. Some people have said that children are not learning enough at Brightworks. They feel that students and teachers are just 'playing around' all the time. The students at Brightworks seem to love their school. We spoke to 12-year-old Tina Cooper. She has been a student at the school since last October. 'Since I started here, I've never sat in a 'normal' class with a teacher,' she told us. 'But it's been a very exciting experience. I've worked hard at my new school for eight months now, and there hasn't been one single moment when I found it boring. Before, I was bored quite often.'

Most people think that housework is boring and is the responsibility of wives and mothers only. Many parents don’t ask their children to do housework so that they have more time to play or study. However, studies show doing chores is good for children. Kids who do housework develop important life skills that they will need for the rest of their lives. Doing the laundry, cleaning the house, and taking care of others are among the important skills that children will need when they start their own families. These are the things that schools cannot fully teach, so it’s important for children to learn them at home. Sharing housework also helps young people learn to take responsibility. They know that they have to try to finish their tasks even though they do not enjoy doing them. Doing chores also helps develop children’s gratitude to their parents. When doing housework, they learn to appreciate all the hard work their parents do around the house for them. In addition, doing chores together helps strengthen family bonds, creating special moments between children and parents. It makes children feel they are members of a team. All in all, doing housework can bring a lot of benefits to children. It teaches them life skills and helps build their character. Therefore, parents should encourage their kids to share the housework for their own good as well as the good of the whole family.

School is an important part of every student’s life. It is a place where we learn new things, make friends, and grow as individuals. We study different subjects such as math, science, languages, history, and art. These subjects help us discover what we are good at and what we enjoy doing. As students move through school, they begin to think about their future choices. Some students want to go to university, while others prefer to get a job or learn a trade. Our interests, talents, and school experiences help us decide what career we want in the future. Teachers and parents often give advice, but in the end, it is important for each student to choose a path that matches their goals and dreams. School helps us not only with knowledge but also with important life skills like communication, teamwork, and responsibility. In the future, we may become doctors, teachers, engineers, artists, or anything we choose. The most important thing is to work hard at school and believe in ourselves.

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