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[阅读小分队] 【Native Speaker 每日训练计划】No.2840【经管】

发表于 2020-7-14 21:42:28 | 显示全部楼层 |阅读模式
内容:Morgan Hu  编辑:Yong Shu
Wechat ID: NativeStudy  / Weibo:
Part I: Speaker
The Small Business Roller Coaster
Stacey Vanek Smith , July 2020
Source: NPR
[Rephrase 1, 9:31]
Part II:Speed
Reacting vs responding

[Time 2]
Ever hit “reply all” when you probably shouldn’t? Or stopped what you’re doing to read an incoming email even though it will get in the way of more important work? More often than not, we react rather than respond. And that can often that leads to trouble, especially for managers.
The two words get used interchangeably, but they aren’t exactly the same thing. In neuroscience, where it actually IS brain surgery, they define the difference this way; the reaction is the first, usually involuntary, thing we do when presented with stimulus. The response, then, is what we do after that. For example, a sudden noise might make us flinch (that’s a reaction) but when we realize it’s just the window shutter banging in the wind, we respond with a sigh (or a curse, because now that means you’ve got to get off your butt and do something about it) and go on about your business.
When we react, rather than mindfully respond to stimulus at work, the result is often less than optimum. When we react to bad news by flying off the handle, we might be creating an environment where people choose not to proactively inform you about situations you would otherwise want to hear. When someone asks you to reattach a file to an email, rather than go look for it themselves on the network and you don’t respond by reminding them that they know jolly well where it is, you not only interrupt your own work, but pretty much ensure future requests of the same type.
[275 words]

[Time 3]
By reacting, rather than considering an appropriate response, we temporarily solve the symptom (the person needs the latest file) but don’t solve the overriding problem (that they can’t, won’t, or don’t know how to, use a tool everyone else uses that can spare everyone time and effort.)
Complaints that we don’t have time are usually untrue. The human brain fires neurons and records reactions to visual stimulus in somewhere between 18-100 micro-seconds. Even if you count to five before responding, that’s less than five seconds it takes to avoid a lot of problems.
When working virtually, this problem is magnified because we’re working with less data. We get a piece of data (say, an email announcing someone will be late on a deliverable). We can’t see their embarrassment, or hear their own frustration, we simply snap back an email that says “this is unacceptable.” We don’t really know how that will be received, or whether we’re making a bad situation worse, and at the end of the day it doesn’t really help. We’ve reacted to news, rather than responded in a constructive way.
Understanding the difference between reaction and response has actually helped ease my guilt as a manager. My sometimes less-than-helpful reaction (thoughts of homicide, for example) are perfectly normal and even understandable. As long as that isn’t my response, it’s my little secret.
Next time you are handling a stressful situation, ask yourself. Are you reacting or responding? Wait five seconds and ask it again.
[277 words]

Source: Management-Issues

Here's How This Multiskilled Norwegian Sharpened His Craft in Entrepreneurship

[Time 4]
Every entrepreneur knows that the art of entrepreneurship is not something that can be learnt in a day. It’s a steep learning curve that comes only by practice. The most successful entrepreneurs, who we have grown to admire, spent years training themselves. Most times their training involved hours of figuring business out on their own by trial and error through doing the work.
What happens when an ambitious, independent and free spirited teenager finds his way into the world of entrepreneurship?
From an early age, Sam Farao, a Norwegian serial entrepreneur and a growth hacker, knew that he didn’t want to work in a 9-to-5 set up.
As with all those who tread the path of entrepreneurship, Farao wanted to create his own financial stability without having to hinge on a ‘stable’ job like most people would do. He wanted to build his own dreams rather than working hours on end building somebody else’s.
His commitment to this goal led him to be a successful serial entrepreneur delving in businesses that range from a hair salon to real estate. His story is a true testament of the fact that the world rewards those who desire to stay true to their goals until the very end.
Open Doors Through Digital Marketing
It all started in college when Farao decided that he was ready to dive into the world of entrepreneurship. His goal was to never work for anyone. Inspired by this drive, he started an online drop-shipping career while in college. His drop-shipping business became so successful that he dropped out of college to pursue it full time.
Drop-shipping goods from China and Europe got Farao to discover something new: affiliate marketing. Then and there, this newfound discovery motivated him to launch multiple websites to target customers in different niches using pay per click and search engine optimization (SEO).
At this stage a lot of people would be carried away by the returns from immense success, that they’d be hungry to do anything to keep the money flowing. Such people trade in their mission and for monetary gains.
[357 words]

[Time 5]
Scaling with Startups
Farao was on a winning streak when it came to running companies. Today he runs several successful companies with their headquarters in Oslo, Norway. But, of course, it wasn’t always that way.
He had his first taste of running a company in 2011 when he started a hair salon in Oslo called Oslo Hair. At Oslo Hair, he handled the administration and the marketing. Under his watch, Oslo Hair quickly turned into a profitable business. After another successful marketing campaign, he had his grand exit when he sold the company shares. And today that hair salon is by far the rated among top hair salons in Norway.
In 2015 and 2017, Farao put his background in affiliate marketing to the test as he went on to co-found Netpixel Media and Captana respectively. His early exploits with affiliate marketing paid off and those companies generated $3 million revenue in only affiliate marketing commissions.
In early 2019, Netpixel Media and Captana executed an asset sale with Speqta AB (publ), formerly known as Mytaste Group. The assets consisted of four websites within the loan comparison sites and a voucher site. In total, the acquisition is set at 31.5 MNOK with a 12-month earn-out of the 10.75 MNOK.
The Gold in the Websites on Loans and Credit
Farao continued to mine breakthroughs using his expertise in online marketing and hit gold. In 2015 he started a coupon site in partnership with one of the most prominent online newspapers in Norway, Mediehuset Nettavisen.
Since then he opened a series of sniper sites within payday loans. A sniper site is a website that is laser focused or targeted on a specific keyword. For someone who understood online marketing and SEO, running sniper sites was within Farao’s competence.
After ranking the sniper sites, Farao would sell them and make a handsome income from his hard work. One of this most successful sniper site projects is a Norwegian loan comparison site called It wasn’t a surprise that he later became a partner in the globally recognized loan comparison site, Loanstar. From there he moved on to creating sniper sites on consumer loans and credit card comparison sites.
[369 words]

[Time 6]
Farao was able to create a niche for himself and became a leading market player in Norway. His continuous engagement in websites on loan and credit websites led him to be a founding partner of Perago Capital, an investment vehicle based in the UAE.
Farao also dabbled in the casino industry. is a leading guide for online casino related information in Norway, including Sweden and Finland. Casinor was later sold for an undisclosed seven-figure amount.
Currently Farao is working on a real estate investment company called Imperium Invest which was established with Dyar Al-Ashtari. Imperium Invest is focused on commercial real estate in Oslo and Amsterdam.
Farao is also a seed investor and board member of a startup called, which specializes in bridging the supply side with the demand side in Oslo’s flex office market.
Challenges Come with Honing Your Craft
It’s never a bed of roses for any entrepreneur. As you journey through entrepreneurship honing your craft, you’re bound to witness ups and downs along the way.
Farao’s series of successes came with its fair share of failures and challenges. One thing for certain is that no matter what challenges you might face as an entrepreneur, they’re surmountable.
According to Farao, he had to learn to be self-disciplined, self-motivated and organized. Despite that, he still faced stress and burnout. But the more he honed his craft and kept at his work, he learned that he had to break his goals into small actionable steps. That helped him manage his stress and burnout.
Drawing from his experiences, he advises entrepreneurs to take care of themselves and not get tempted to work long hours on the grind. Rest and exercise are vital to remain in the game. Overworking yourself would make the journey distasteful and uninspiring.
As you chase your big dreams, work within your means. Lack of capital is a problem for entrepreneurs, hence you have to be frugal with the capital you have and consult great mentors in order to minimize losses.
Source: Entrepreneur

Part III: Obstacle
Research: How Corporate Boards in Asia Can Improve Governance

[Paraphrase 7]
After the financial crisis of the late 1990s, most Asian countries reformed their governance codes and regulations around management accountability and transparency. Despite this, the region has still experienced significant and high-profile corporate governance failures. Why? Because many boards failed to reform. In a recent study, we found that corporate boards in Asia still lack adequate leadership, supervision and oversight, despite the fact that analysts predict that Asia could soon become the world’s largest economy by GDP contribution, contributing roughly 60% of the global growth by 2030.
Our research leads us to believe that if individual companies are going to succeed, they are going to have to focus attention on strengthening and empowering their corporate boards. Our study, based on 109 interviews and 350 surveys of board directors in over 400 mid- to large-size organizations across Asia, found Asian corporate boards are underprepared to deal with the cultural pressure to maintain harmony and preserve hierarchy and concentrated ownership structure in most Asian organizations. Furthermore, one in two board leaders surveyed in the research thought that one or more of their peer directors need to be replaced because they did not merit a place in the boardroom.
Part of the problem, we discovered, is that the majority of organizations we interviewed erroneously translate “board leadership development” as recruiting high-profile board directors, yet “trophy” directors almost never help improve the quality of governance leadership on Asian boards. Collective board leadership involves much more than skills and capabilities. It includes governance maturity, clarity of mandate of key stakeholders, individual accountability, and diversity of skills and capabilities on boards. Luckily, our research identified five ways corporate boards in Asia can improve.
1. Understand how external and internal governance maturity impacts your firm.
Board leadership needs to be grounded in strong country and company governance maturity. Corruption, bureaucracy, and lack of transparency in the home country jurisdiction impact company’s governance practices. Asian boards must also neutralize the impact of a country’s culture that centers around hierarchy, collectivism, “saving face,” and conflict avoidance, as it may hinder open conversations in the boardroom. Even the most intuitive activity of continuously reflecting, discussing, and debating best ways to strengthen the governance processes and tools can be quite daunting due to the concentrated shareholding, and therefore uneven distribution of power within Asian boards’ set-up. Boards in Asia must overcome governance stalls that often slow them down.
2. Engage board members who have the right intent and learning mindset
Board leaders must reflect on individual and collective intent and capability. The intent of independent board directors often decides the quality of leadership. Why have directors taken up a board responsibility? What is their key motivation? What do they want out of board appointment? How bought-in are they to the values, mission, and vision of the organization? How deeply do independent directors reflect and feel accountable towards their role? These questions often decide the level of individual commitment towards the board role.
In our research, 29% of surveyed board leaders in Asia sit on four or more boards, some representing as many as nine boards. As a result, individual accountability towards all board positions often gets diluted. Board chairs must ensure that directors are able to carve out enough dedicated time for each board engagement. Board leaders must also regularly engage in capability development, especially in self- and strategic-leadership skills. Sadly, time spend on capability development shows up at of the bottom of the stack of 24 board activities evaluated in our research.
3. Curate a diverse team
While we found that Asian boards have sufficient skills diversity, there are serious gaps in ethnic, tenure, generational, and gender diversity. Global studies indicate that there is often a positive correlation between diversity and board performance. Nominating committees must look beyond the typical chartered accountant, lawyer, and ex-CEO profile, while identifying new board directors. Focusing on digital, artificial intelligence, cybersecurity, branding, and related skills will help Asian board ramp quickly up on future-readiness.
4. Measure performance and clarify role expectations
Almost 26% of respondents said their boards had no evaluation process in place, and another 23% shared that their boards conducted only self-evaluation. Lack of objective and comprehensive evaluation process often breeds complacency and subpar board performance. Asian boards must also do better in defining the role of, and expectations from, the board directors, chairperson, and CEO, clearly outlining where they should be spending maximum time. Our research found three external activities where board leaders’ involvement can directly impact business — client visits, partnering on sales efforts, and engaging in vendor conversations.
5. Build a culture deep-rooted in trust
Our research found that board culture based on spirit of collaboration, candor, challenge, commitment, and trust is often the difference between a group of rock-star board directors and a rock-star board. Ineffective boards often lack engagement and synergy with the management and among board directors themselves. We found a gap of 25% between desired and current level of interaction between board members and management, and a similar gap between desired and current level of interaction, communication, and engagement among directors on the board. While good board culture is about trust and transparency between the CEO and the board such that they can be true sparring partners, 29 percent of respondents said boards in Asia play a “rubber stamp” role for the management “most of the time” or always. Asian boards must create a culture of openly sharing diverse views, intense dialogue, and clear and quick decision-making.
As shareholder activism grows in Asia, government regulations grow more stringent, sustainability concerns increase, and boards rapidly increase focus on technology and talent, collective board leadership is going to remain a challenge in most Asian organizations unless they change course. In our research, however, we found that boards in Asia are beginning to spend more time discussing future readiness; board and management interactions are on the rise, board leaders are more eager to learn about future trends, and recruiting directors with technology skills is becoming more of a norm rather than exception. Collective board leadership, we know, is a competitive advantage. With clear signals on how Asian boards can improve, individual companies that take action now are likely to succeed.
[1050 words]
Source: Harvard Business Review


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发表于 2020-7-14 22:30:00 | 显示全部楼层
发表于 2020-7-15 00:08:00 发自手机 Web 版 | 显示全部楼层
发表于 2020-7-15 00:14:37 | 显示全部楼层
debating best ways to strengthen the governance processes and tools can be quite daunting due to the concentrated shareholding
Curate a diverse team
Build a culture deep-rooted in trust
发表于 2020-7-15 11:19:53 | 显示全部楼层
Reacting vs Responding

Reaction is different from response. Reaction is what you react first, usually involuntary, thing we do when presented with stimulus, while response is what we do after that. The ability to distinguish reaction from response can help us to deal with problems and express feelings, especially as a manager

Flinch: to make a sudden small movement because of pain or fear
More often than not: in most occasions
Fly off the handle: to react in a very angry way to something that someone says or does
e.g. He’s extremely irritable- he flies off the handle at the slightest thing
发表于 2020-7-15 11:46:16 | 显示全部楼层
T2 1'23''
T3 1'26''
T4 2'25''
T5 2'46''
T6 2'37''
T7 6'42''
发表于 2020-7-15 12:09:30 | 显示全部楼层
T2 1’36
T3 1’40
The passage points out the differences between ‘react’ and ‘respond’, and it reminds managers of the importance of responding constructively to the situations rather than merely reacting. ‘React’ refers to something people when receiving stimulus, and it solves symptoms temporarily. However, ‘respond’ is something people do after react to the symptoms, and it aims to solve the problems.

T4 2’45
T5 2’10
T6 2’45
发表于 2020-7-15 12:46:51 | 显示全部楼层
OB: [2767 words] 16’04’’
Many business leaders agree that the COVID-19 crisis is creating more opportunities for growth and will fundamentally change the way they do business in the next five years. However, not all of them are able to seize the opportunities by exploring new things. Less fund providers list innovation as the first or second priority when investing. Risks have to be carefully controlled until everything becomes more stable in the post crisis era. Data have shown that investments in all the industries decrease during the crisis except those in medical and pharmaceutical industries.
For companies that grasp the opportunities, they are able to outperform pears by 10% during the crisis and 30% afterwards. A good example is the sharing economy that emerged during the 2008 crisis—it made China an active epicenter for innovation of various business models. According to post report, these companies make profit that is 2.4 times of the average.
To manage to achieve this, eight essentials should be identified, three of which should be paid special attention during the crisis, namely evolve, choose and discover.
发表于 2020-7-15 20:47:20 | 显示全部楼层
T2:1'35''  When we react, rather than mindfully respond to stimulus at work, the result is often less than optimum.
T3: 1'48'' Understanding the difference between reaction and response has actually helped ease my guilt as a manager.、
发表于 2020-7-15 22:35:25 | 显示全部楼层
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