Title khánh ngọc - summary + vocab ✅

Summary
Unit 1 ● Reading 1: This text defines management as the process of achieving organizational goals through planning, organizing, leading, and controlling resources. It introduces the concept of a manager as someone in charge of specific tasks or areas within a business and outlines the key functions they perform. ● Reading 2: This section focuses on the practical functions of managers, such as planning for the future by setting aims, and the importance of organizing resources and people, and coordinating different departments. It also emphasizes that effective management is essential for a business to avoid drifting and failing. Unit 2 ● Reading 1: This text introduces Theory X and Theory Y, two contrasting management approaches based on different views of employees. Theory X assumes workers are lazy and need control, while Theory Y assumes workers are motivated by internal factors and will take interest in their work. ● Reading 2: This section discusses Herzberg's theory, arguing that good working conditions alone are not enough to motivate people. Herzberg suggests that factors that allow people to grow psychologically, such as challenging tasks and responsibility, are more effective motivators. Unit 3 ● Reading 1: This reading discusses the changing world of organized work, using the example of Procter & Gamble seeking solutions from scientists worldwide. It raises the concept of using external resources to solve problems, known as the "wikinomics principle". ● Reading 2: This text focuses on traditional company organization, describing the chain of command and functional structures in businesses. It also introduces the idea of teams as a way to organize projects and notes potential conflicts between departments with different priorities. Unit 4 ● Reading 1: This text introduces Richard Lewis's model of three cultural types: linear-active, multi-active, and reactive. Linear-active cultures are organized, logical, and plan ahead, while multi-active cultures are more flexible and emotional.
● Reading 2: This reading explains the difference between low-context and high-context cultures in communication. Low-context cultures rely on explicit verbal communication, while high-context cultures rely more on nonverbal cues, shared experiences and understanding. Unit 5 ● Reading 1: This section outlines the steps of the recruitment process, including job analysis, job description, job specification, advertising, and shortlisting. It emphasizes the importance of matching the applicant to the job requirements and gives information on what a job description should include. ● Reading 2: This text discusses the importance of training for employees and describes different training methods such as induction training, on-the-job training, and off-the-job training. Unit 6 ● Reading 1: This reading describes the stages of economic activity, with the primary sector extracting raw materials, the secondary sector manufacturing goods, and the tertiary sector providing services. It also introduces the quaternary sector, which includes information and knowledge-based services. ● Reading 2: This text presents arguments for and against the importance of manufacturing versus services in advanced countries. It explores the changing nature of work, particularly in developed countries. Unit 7 ● Reading 1: This section introduces key terms and concepts related to production, including production itself, and inventories. It includes an exercise that requires the matching of verbs with nouns related to production. ● Reading 2: This text discusses lean production techniques, aiming to minimize waste and increase efficiency. It also covers the concept of Kaizen (continuous improvement) and the advantages and disadvantages of having large inventories of raw materials and finished products. Unit 8 ● Reading 1: This text introduces pull and push strategies for stock control and manufacturing. Pull systems are based on demand, while push systems are based on forecasted demand.
● Reading 2: This text uses Wal-Mart as a case study to illustrate a complex logistical operation. It emphasizes the fast flow of goods and effective organization of the supply chain using a few metaphors. Unit 9 ● Reading 1: This text defines quality and differentiates between quality control, which detects defects after they happen, and quality assurance, which focuses on prevention. It also touches on the concept of Total Quality Management (TQM). ● Reading 2: This section describes various approaches to quality management, noting that they all share common elements like measuring processes, reducing defects, and involving employees. It also introduces the concept of quality costs, including prevention costs, appraisal costs, internal failure costs, and external failure costs. Unit 10 ● Reading 1: This text defines marketing and states that it is about satisfying customer needs. It discusses the product life cycle and various marketing strategies employed in each stage. ● Reading 2: This section discusses different market strategies, such as being a market leader, market challenger, market follower, or market nicher. It highlights the importance of identifying market opportunities and responding to changes. Unit 11 ● Reading 1: This text explains the functions of advertising, which is to inform consumers and persuade them to buy products or services. It also details the role of advertising agencies, and how companies develop advertising strategies and media plans. ● Reading 2: This section focuses on an innovative advertising campaign by Honda, which used skydivers to capture attention. It highlights the issue of viewers tuning out of traditional TV advertising and the need for new approaches. Unit 12 ● Reading 1: This text explains that banks are financial intermediaries that take in money and relend it and are a key part of the financial system. It describes how commercial banks function and how clearing systems facilitate payments between banks.