Time factor in being decisive

A good decision maker is one who has different strategies for different situations. Where there is an emergency, he must have the swiftness to take decisions and boldness to carry them out as the situation demands. An emergency situation is not one where one has to wait for too many inputs or consult too many persons. Taking calculated risks and moving ahead at speed are the requisites for a manager under such circumstances.

At another end, where there is adequate time available for decision making and the decision involves high stakes, the manager should take time to brood over the inputs and alternatives so as to arrive at the most workable and fool-proof decision. He does not unnecessarily push people around, hurry up things and end up too early to make a wrong decision.

Exercise 1. Match a word or a word partnership from box A with the explanation from box B. Translate the words or word partnerships from box A into Russian.

Exercise 2. Create a sentence for the each word or word group given in Ex. 1.

Exercise 3. Role-play the dialogues with your group-mates.

Project

Exercise 4. Work in groups. You are managers working in a company with a problem. One of the managers in your group summarizes the problem and then everyone in the group participates in trying to solve it.

Insider trading

You are financial traders for Interstellar Securities on the London stock market. You think that one of your colleagues (not present) is guilty of insider trading. Insider trading is when someone has confidential information about something that is going to happen which has not yet been made public, and uses this information, for example to buy shares knowing that their value is going to rise. Your colleague has been using information from a friend of theirs who works in a manufacturing company that is going to be bought by another company. The dealer has been illegally buying shares in the company. If the authorities find out about the insider trading, they will punish your firm and its reputation will suffer.

What should you do about your insider trader colleague? They are in their mid-30s and have worked for Interstellar for 10 years and made a lot of money for the fi rm. However, this is not the first time that you suspect them of ‘irregular’ activities. They have a very powerful personality and could cause a lot of trouble if dealt with in a way that they think is unfair. And if they leave the firm, they would probably join another company and take business away from Interstellar.

Problem Issues

Revise the material of before and be ready to speak on the following issues using the active vocabulary you acquired.

Exercise 5. Look at the following examples of arguably unethical behaviour. Choose the five you find most unethical. See if other people in your group agree. Give reasons for your point of view.

a) using child labour in developing countries to produce consumer products for developed countries

b) a company dealing in arms and selling them to any country who wants them

c) a company finding clever ways to avoid paying the full amount of tax

d) a company not providing adequate safety equipment for its workers

e) a company ignoring laws on disposal of harmful waste products, e.g. leaving it on local land or in rivers

f) producing a product such as tobacco which is known to kill people

g) a company who pays their employees less than the minimum wage

h) food companies not labelling food properly so that consumers do not know what is in the product

Exercise 6. Prepare a short talk about the following issues. How significant are they in your country? Are people interested in them? Does the government promote them?

a) green issues

b) business ethics

c) social responsibility

d) ethical consumerism

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