Priorities

Priorities are goals, objectives, activities, etc placed in order of their importance. People prioritize everyday because it is pretty much a part of life. If we didn't prioritize then nothing important would get done and all the things we desire would come first, resulting in little or no (business) production. Priorities are a priority and all items at the top of the list need to be done first.

Objectives

Objectives are goals that are planned with an intended outcome. Objectives are usually achieved within a set time period. Experts believe that objectives are the single most important feature of the planning process. I also believe that this is true for if you don't have any objectives, how can you make any plans?

Planning

Planning is organizing a series of actions to achieve specified results. Plans are usually made when coping with uncertainty but that is not always so. Planning is is done just in case, although plans my not be needed if everything goes well, initially. As we said in class, or as Levi (Wall) said, "no plan survives first contact," which makes sense and is one of many planning quotations/sayings.

Values

Values are abstract ideals that shape one's thinking and behavior. They can be objects, whether physical or abstract, denoting some degree of importance. Values are subjective and vary across different people and cultures. They are also a branch/area of ethics.

Business Ethics

Business ethics is a form of applied ethics that deals with ethical principles that arise in a business environment. It is a practice that can only help the reputation and longevity of any business. More and more consumers and customers are aware of ethical business and are more likely to do business with them. Business ethicism is continually increasing.

Ethics

Ethics is a really broad study of the common concepts, right and wrong. It is considered a major branch of philosophy. Simply living a "good, clean life" is a central aspect in ethics. It is believed my many philosophers to be more important than morality, though they are (practically) the same thing.

Intrapreneur

An intrapreneur is an entrepreneur within his or her company. An intrapreneur is taking less risks than an entrepreneur because they are using their skills and ideas within an already established firm instead of going out on their own. An intrapreneur can be just as important as an entrepreneur. Intrapreneurship is a practice that is increasing regularly.

Technology

Technology is a broad concept dealing with how humans use new knowledge, tools, and crafts to control and adapt to the world we live in. Technology can even help us to do things that was once thought to be impossible. Through the advent of technology, the world is a seemingly smaller place. Technology is a big plus to our kind, but just as everything else, there are cons to technology.

Target Market

A target market pretty much defines itself. For the most part, all companies have a specific target audience that they cater towards. Many companies are now doing what I like to call "multi-marketing". That is, businesses try to focus on many target audiences for more profit and notification.

Business Cycle

The business cycle is the fluctuation of economic activity. It can be predictable but the timing is kind of hard to keep track of. Like right now, we are (practically) in a recession. Though not too long ago, we were enjoying prosperity (expansion).

Demographics

Demographics are statistical studies of all populations. This information is vital to companies so that they can conduct business and focus on a target market(s). Demographics are constantly changing because of natural life occurrences, such as birth and death. That is why research is always done to keep the demographics up-to-date.

Transnational Company

A transnational company is similar to a global company, but it isn't centralized and lacks a national identity. These companies rely on a mix of global and local strategies. Larger transnational companies have budgets that exceed some national gross domestic products (GDPs). These sort of companies can be a problem because if they become too powerful, not even the government will be able to (fully) regulate them.

Global Company

A global company is a corporation that manages productions and services in many countries.Though the previous (sentence) holds true, all business is managed from a specific country. Sony Corporation is a great example of a global company. A local corner store in the total opposite of a global company.

Contingency Approach

This approach is the most appropriate for modern times. The contingency approach is used to see which managerial techniques are most suitable in different circumstances, using research. There are also numerous theories about this approach. This is the type of approach that is needed in today's fast-paced, technology-driven world.

Organizational Behavior

Organizational behavior is a modern approach which studies people and how they work, while seeking to improve management skills. There is still research being done in this field. There are many theories about organizational studies. All factors in organizational behavior helps to better explain and understand (human) life.

Universal Process Approach

The universal process approach states that all managers and managerial decisions entail the same practice. For the most part, no changes need to be made to the way things run, no matter the size or type of business. It is the oldest business approach there is. It is also the most popular approach, which I find surprising in this day and age.

Operational Approach

Dealing with production, the operational approach is used to describe an area of management that is dedicated to improving just about every area of it. The approach goes by many names, and is recognized extensively in the business field. Also, a form of management. The approach leads to better business.

Open System

An open system is a dependent entity. A baby can be considered an open system. Though opposite, both open and closed systems are almost always together. Both are classified by how much interaction is done with the/its environment.

Closed System

A closed system doesn't need any outside help. It can function on it's own, whatever it may be, for a long time. A closed system can be a person, item, etc. It is sort of the opposite of a open system.

Business Management

Business management, which happens to be my major, and management, in general, are very similar. You must combine as much resources as possible to get desired outcome. You must have good leadership skills, and you should be able to influence with power in any managerial decision. A manager also need patience and dedication.

Management

Management, which happens to be the title of our textbook, is working with and through people to accomplish desired goals. Management is key to getting a lot done in little time. There are many types of management in many different fields. We, as individuals, need to practice management in all areas of our lives as much as possible.

Conflict

Conflict is an undesired state of discord. A conflict is like a problem in many ways. Chiefly, both are a result of what was expected and what actually happened. A difference between a conflict and a problem is a conflict can be between you, yourself, and no one else.

Negotiation

A negotiation is a discussion between two or more people who aren't seeing eye to eye, with the end result intended to be an agreement. Negotiations are used everyday by everyone. Although this is the case, not all negotiations are successful. Since we live in a world where everybody is unique, conflict will always occur and negotiation will always be needed.

Mentor

A mentor is one who develops another individual into a better (well rounded) person. A mentor can be a very important figure in certain lives. Also, anyone can be a mentor as long as they are dedicated to the cause of helping and assisting their mentee. I, myself, was (and is) a mentor to many and I was also mentored by many.

Cultural Intelligence

Cultural Intelligence (CQ) is a unique characteristic that certain people possess. This ability allows one to come across as natural and as understanding as possible, in cultures that they have never been exposed to. This can be great for business but can also be of use in general, to from new friends and the like, in new cultures. The abbreviation for cultural intelligence (CQ) is a play on IQ, which is quite effective, especially with the fact that they are both measured on a scale.

Body Language

Body language is best described as "actions speak louder than words." Primarily, gestures and/or body movements are used to "say" something. The combination of body language and verbal language is key to effective public speaking and presentations. As much as people chatter, body language makes up a majority of communication.

Strategic Change

Strategic changes are usually the most riskiest of any and all changes. They require that you "start a new" as they say. If business is going straight into the ground, a strategic change could probably revive it. But if business is going really well and venturing off a little (or a lot) is planned, utilizing the strategic change might also be a plus.

Incremental Change

This sort of change is an adjustment. Things are fixed and sorted so that everything stays on track. This change should be applied if things suddenly seem to be heading in the wrong direction. This change is very useful for repetitiveness and comfortability.

Reactive Change

This change is usually one that must be done. It is a little more of a risk but making the sacrifice is not exactly optional. Whatever happened was not expected so prompt action is required. It is practically a need if things are to have an overall positive outcome.

Anticipatory Change

This type of change is virtually risk free. It is a change that was made because whatever happened was expected. We use anticipatory change quite often on the regular. It is sometimes done, even though it does not need to be.

Collectivist Culture

In a collectivist culture, people tend to come together and combine views and ideas. People agree that their community as a whole play an important role. Self-interest is usually in the back of the minds of those who are in a collectivist culture. Working together to get things done is the norm for people in this culture.

Individualistic Culture

This is the culture that I fall under. I rely on myself as much as I can and I do almost everything independently. In general, people from an individualistic culture take great pride in one's self, culture, goals, achievements, moral standing, etc. People from this culture may come off selfish but it's not intended.

Low Context Culture

Low context cultures do a lot of talking. I think that they should be the quiet ones. I guess it's because many people from low context cultures are so busy on a daily basis and used to this fast pace life that they don't take the time to let certain things just....be. Words are used a little bit too much and not enough thought goes into what is being said most of the time.

High Context Culture

People from high context cultures tend to do little talking. I'm surprised that this is so as I thought that people from these cultures would be talkative people. They tend to surround themselves with people who share their goals and aspirations. The culture explains itself, as not many words are conveyed.

Decoding

Decoding is the process of relaying information. There is also no right or wrong way to do this. Effective encoding and decoding all depends on source; who, what, where, when, why and how information was given and received. I used to think that decoders were always right, but boy, was I wrong!

Encoding

Encoding is the process of processing information. There is no right or wrong way to do this. It all depends how the information was taken/passed. I originally thought that any encoder that was wrong or off was to blame but this is not always the case.

Business Communication

A more sophisticated form of communication, business communication is huge and in-depth. Each term, alone, cover a lot of ground so put together your talking about a terrain of territory. Generally, business communication is used for promotion (marketing) but can also be used for virtually anything else (pertaining to business, of course). Business communication encompasses so many topics that it itself can be considered information overload.

Communication

Communication is simply the exchanging of information (between so and so). We all do it because it is a part of life. Whether it's simple or complex, high context or low context, we communicate on a daily basis. Imagine a world without communication....(I know, scary isn't it?!).

OBAMA WON!!!!!!

YES!!!! YES!!!! Change has finally come. Now we will experience a whole new generation of influence, power, and leadership. (Serious) history has been made and I have never felt better.

Yay! Today's Election Day!

And I didn't vote (And today should be a holiday). I'm finally of age to but I had no idea there was a process. I was just planning to go to my elementary school and cast a vote. I also wanted to work today, but that's also another process (I know what your thinking, there's a process for everything; and there is, so you'd be right about that one).

Senators Working Twice As Hard

As election day approaches, both McCain and Obama are speaking in as much places as (humanly) possible. They are urging votes and campaigning in areas that can bring in huge numbers. There was a lot of "early voting" going on. Not sure how that works, but I'm guessing that it's a good thing for the senators.

Influence, Power, And Leadership 4

The order in which I, P, & L are placed has become accustomed to me. I also think that this order is proper, in that influence is the basis of them all, and that leadership is the most weighted of the three. Influence can guide you to both power and leadership. Leadership doesn't necessarily have to incorporate the other two but can show that one has the ability to unite others to work together and achieve a common goal, something that I consider to be a trait, a gift, if you will.

Influence, Power, And Leadership 3

I think our current president, Bush, is the worst example ever of influence, power, and leadership. You know how they say everyone lives through a major event that will impact their lives forever? Well, Bush is that life changing event. Yep, my life has been officially altered for good. Sheesh, why can't his term just end already?! Then he really won't have any of the great 3, making him more generic than a brandless brand.

Influence, Power, And Leadership 2

I think Bill Gates is a good example of influence, power, and leadership. In order to go from where he was to where he is now, he had to have been able to use all 3. Whether or not he is capable of using all 3 now is a bit of a mystery. Well, now that I am thinking about it, I take that back, because once you've utilized all 3 in the past effectively and efficiently, you should always be able to use all 3.

Influence, Power, And Leadership

Influence, power, and leadership, independently, are strong. But combined together, then you have a force to be reckoned with. Anyone (or thing) exhibiting all these can be all but feeble. The seemingly impossible may be a possible task for the possessors of I, P, & L.

No More Blogging About GM??!!

Why??!! They were the perfect backdrop. I was really getting into them and their history. Plus this entire blog was practically suppose to be about them. Anyway, business always changes so you just have to change along with it. Well GM, it was fun keeping tabs on you. Till we meet again and may you make it through all your problems single, smarter, stronger, and safer (I'll leave my blog in your namesake).

Merger May Be Funded By The Government?!

GM is, once again, asking the government for money. This is truly amazing as the $50 billion they wanted hasn't been (fully) approved yet. If the merger actually occurs and the government does pay for it, the money would be coming straight from the controversial $700 billion package originally intended to bail-out the banking system. The next thing you know, they're gonna be asking for money to split up. They should just handle their business on their own. The government should practice more of a laissez-faire approach with these companies (and the banks/wall street) and have them learn (the hard way) from their mistakes.

GM Once Faced With A Difficult Decision

A while back, GM had to stop producing their full-size sport utility vehicles. Now this is really hard for me to believe. The popularity of the Escalade and the Hummer were phenomenal. And all this time, I didn't even know it was GMC making these SUVs. I know they made quite a profit off them and they still can. All they have to do is make them (more) fuel efficient.

Detroit's Big Three In Big Trouble

GM may not make it to 101 years old (single and/or alone). Chrysler is also talking with Nissan about merger. Ford, who/which is older than GM (and I though GM was the oldest motor company), celebrated the 100th anniversary of the Model T, but that was the only thing they had to be excited about. The big three are suffering big time as sales are braking quickly. This month is expected to be a historical one since sales are (almost) at their lowest level in 25 years. That's a descent of more than 15% from last year and if they can't pull through this current period, things are sure to get worse for a long, long time.

GM Is Out To Cut Employee Benefits

In a greater effort to save even more money, GM will be suspending matching payments to employee 401K plans as of Nov. 1. Additionally, they are reducing the salaries of their North American workers by 15%. This is almost as bad as them cutting retiree health care. It's not fair to those hard workers who are dedicating their precious time and energy into the company. But on the other hand, if GM doesn't do this, they may become unable to compensate these workers. This is also a part of GM's plan to raise $15 billion in liquidity throughout 2009.

Midtronics To Supply Tools For GM Hybrids

After coming to an agreement, Midtronics will be supplying a new essential tool for GM's 2-mode Hybrid vehicle programming support. Never heard of the supplier. I guess they are a small company on the rise. It seems they are providing an advanced tool, which is needed for the new GM hybrids. Service Programming System (SPS) Programming Support Tool EL-49642 is what it has been branded. It's based off on an earlier Midtronics Power Supply Charger that did very well.

GM's Third Quarter Sales Results

GM's sales are doing better this year than last. Call me crazy but how is this possible? They are facing all sorts of situations that aren't necessarily positive. Talk about combining the good with the bad. Announcing that sales went up 121% in September 2008 compared to September 2007 sounds way off. I know I'm coming off rather relatively rash right now but all this just doesn't make sense to me as of yet....

GM's U.S. Dealers Could Lose About 18% Profit

Well, GM is losing more money. Based on their normal sales, they are losing about $199,000 a store this year. Add this all up and you get a total that quite a huge loss. They claim to be doing what they have to do to secure their future. They're still big enough to come back, though. "General Motors is here to stay," said Troy Clarke, GM's North American president, which is quite true.

Citi And GM Have Money But No Worth

Citi has about 2 trillion under its belt. GM has about 180 billion (and decreasing) under its belt. As you can see both these firms have some serious money but no market value. Both are being traded for a lot less than are usual. Of course, this is because of our worsening economy. Other large companies are also suffering greatly, but, history repeats itself, which means they may take off again and flourish some time in the future.

Effective And Efficient Management Saves Time And Money

I just finished reading an interesting article on "chemical management." Never even heard of this until I read that article. In general, car manufactures don't care about chemicals used or not used in the manufacturing process. But GM does, and have contracted out the management of their chemicals to an expert company. This save GM both a lot of time and energy, which allows them to focus on more tasks. The whole aspect of chemical services, to me, is really interesting and important but is something you hear about rarely, if ever.

A GM Supplier To Close Down

Logistics Services Inc., a supplier to GM, is shutting its local operations down on December 23 of this year. 50 people will lose their jobs because of this. I though that there were far more people working at this place. I guess it's not that bad since a lot more people have been losing their jobs at once. And almost all instances were (in some shape or form) linked to GM. As a matter of fact, this supplier is closing because GM's Moraine plant is closing.

Problems Here In The U.S. Not Affecting GM's Business In India

GM's Indian operations are running smooth. I find it funny that they aren't appealing to their own people. Then again, in today's world, outside and unfamiliar things appeal to people more than what they are used to. They are going to invest $200 million to set up an engine and transmission facility at Talegaon in Maharashtra. They also have a $300 million small car plant there. The Indians seems to admire GM's vehicles and GM is happy to facilitate them.

The Final Debate

I wasn't really paying attention to any of the previous debates until now. There's no special reason for this or anything. I just happened to come home today to the TV on CNN and got caught up in the battle of the candidates (plus it was all over the internet). I think they both did a fair job. Obama did better overall, though, because he remained professional and calm throughout his presentation as McCain got far too angry and emotional during his short speeches. Well, anyone with a brain knows that Obama is our next president, but this has to be made official on November 4th, 2008, where surprises are the norm and anything goes.

No Merger If It Means Job Losses

Unions aren't too happy about the continuing talks between GM and Chrysler about a (possible) merger. They said they'll oppose any deal that would reduce the work force. I see no problem with that. The more people who retain jobs, the better off the economy. As I stated before, this whole "merger" thing looks to be more of a negative move than a positive move. Anyway, Chrysler is practically (fully) owned by Cerberus, a vicious private equity firm.

New NBC Series May Be GM's Best Friend

NBC and GMC have teamed up in a very special way for "My Own Worst Enemy," the networks new drama/thriller series. GM is considered "the exclusive automotive integration partner" for the show. This is a smart move by GM, and they could spark early interest in their new vehicles. In the series, the main character has two separate personalities, and ironically, two separate cars. The two automobiles that will be featured are the 2009 Chevy Traverse and the 2010 Chevy Camaro SS. This unique approach was first attempted by GM in the blockbuster film (and classical cartoon) "Transformers," where the cars were the stars.

GM Approached Ford About Possible Merger?!

Now this is definitely a surprise. After reading about GM and Chrysler (possibly) teaming up, the next day, I'm reading about GM and Ford (possibly) teaming up. Well, Ford rejected the idea, which was the best thing to do, if you ask me. If GM and Ford were to merge, it would be worse than if GM and Chrysler merged. They were always both bigger than Chrysler and, while all of them are suffering, are still larger than Chrysler. Like I said before, they are all better off alone.

GM And Chrysler Discuss Potential Merger

At first, I though that this (merger) was a great idea. Both firms are struggling and being former heavyweights in the (game) auto industry, together they could "rise again." But on second thought, this could create more problems than solutions. While they aren't doing as well as they could be, this merger may make things worse. It would result in too much of everything: factories, cars, car brands, dealers, and a host of unnecessary things already in excess. I think they may be better off alone and confused than together and lost.

GM Retirees To Lose Company Health Care Coverage

GM will cease to provide health care coverage for more than 100,000 retirees and their dependents, on the first day of next year. Instead, the company will add $300 to their monthly pension check, to allow them to purchase insurance. That's outrageous! If I were a retiree I would form a team and go on strike (or a mild mannered rampage), for I know that I'm not the only who feels that this is unfair. And while they are offering an alternate solution, I would still deny that plan because good and cheap health care is hard to come by and being a retiree, I don't have a lot of time on my hands to be searching around for a new health care provider. GM would either have to continue to cover me (and my peoples) fully or increase that (our) small sum of extra money to about a grand (or half a grand to be nice to the lapsing corporation), or face the wrath of the retiree rebellion!

Stocks Fall Is Not Good At All

Towards the close of trading, stocks declined today, sending the Dow Jones industrial average down more than 675 points. That's more than 7%! This brings the Dow to it's lowest level in 5 years after a major credit ratings agency said it was considering cutting its ratings on General Motors Corporation. The Standard & Poor's 500 index also fell more than 7%. GM is currently under review by the Standard & Poor's Rating Services. Maybe GM will be able to keep a decent rating despite struggling with weak car sales in North America.

GM's Lowest Shares In More Than 50 Years

Since the 1950's, GM shares hasn't been as low until recently. GM shares fell as much as 33% to $4.65. This plunge is serious! A leading forecaster even warned that the global auto demand could "collapse" in 2009. I don't think it will affect the "whole auto industry" as bad as it will GM. This is sure to cause issues for others, though, as the "whole economy" is still in a ditch.

Federal Reserve To Buy Huge Amounts Of Short-Term Debt

Well, it isn't over (sounds familiar?). The city is still putting their feet forward (or so they think; they're actually going two feet backward) and is coming up with yet another solution to the wobbly economy. This is just another plan that may or may not work. While Bush has signed the $700 billion financial bailout package into law on Friday, people are saying it's not enough. Too little, too late is what's running through a lot of peoples heads I guess. Even though this plan was beefed up to do so much more than the original.

GM Spends Millions On Engines

GM Chairman and CEO Rick Wagoner announced that the company will invest a whopping $370 million. This money is going towards a new manufacturing plant where the global 4-cylinder engines will be developed. The location is in Flint, Michigan. For them to put so much towards this must mean they're really confident. Maybe they'll be special , "gas friendly" engines. The plant itself will be a Leadership in Energy and Environmental Design (LEED) certified facility.

Isuzu Turns Down GM Offer

GM is desperately trying to sell its medium-duty truck operations. They first attempted to get Navistar to buy their manufacturing sites then Isuzu. But neither of the two accepted the offer. All three companies have history together, but I guess they don't want to be bothered with GM right now, since they are going through so much. Or it could just be the fact that they can't afford to purchase the factories. Anyway, GM just has to deal with the situation and/or attempt to sell them to another company.

GM To Cut Vehicle Output In Brazil

In October and November, GM and Fiat Spa's Brazilian units will cut vehicle production in the country. This is a result of them asking workers to take early leave. About 1,700 of a total 15,000 workers will take at least 10 days of vacation. I know some of these workers are quite pleased with this decision. Others might want to stay on site and do more work. Nonetheless, it will only be for a short span and things will be back to normal in due time.

GM To Keep Factory Running Overtime

As we all already know, GM is having problems keeping up with demand for fuel-efficient small cars. So in an attempt to stable sales, they have decided to keep their only U.S. compact-car factory running on overtime for the rest of the year. It doesn't seem like they have much of a choice. They're also running short on Chevrolet Cobalt cars. This decision should yield a plus deviation for GM. Then, they can focus on more serious problems, something they should be doing more often.

GM Urges Support Of Bailout

GM's CEO Rick Wagoner is encouraging employees to talk with their Congress members to support the bailout. I thought that this would have already been done. Then again, some may not support the bailout for their own reason. Automakers, in general, are supporting the move because of the credit crisis, which is making it difficult for many car buyer to qualify for loans. Well, it only makes sense for them to support something that will help them. If passed, the new bill may totally get them out of the gutter.

Senate Revives The Grand Plan

Wow, what a surprise! The $700 billion Wall Street bailout plan is back. Senate revamped the bill and hopes the House approves by Friday. Anyway, not much else to say. I knew it wasn't over and it might not be over anytime soon. If this one fails, they're just gonna try again, and then it becomes a continuous cycle until some sort of plan is put into effect officially.

GM To Relaunch A Social Website

According to an article I just read, GM plans to unveil a redesigned social media and networking site that will feature executive blogs, user-generated content, and social networking tools. The relaunch site is www.GMnext.com. This is the automaker's effort to connect with a younger audience. I visited the site and though it was quite nice. I don't remember ever visiting the site before so I can't really say if there is a big difference, or any at all, between the original architecture and the current one. The site has plenty of options, plenty of things to do and is very user friendly, which makes this a plus for GM.

$700 Billion Bailout Bombs

Well, finally, it's over. Or it is for now. The House didn't pass the ginormous deal even after Bush and congress urged the decision. Even before the bill was rejected, Wall Street was in bad shape, as stocks continued to fall. What's next on Bush's agenda? Well, I for one thinks that he is going to try again. He'll probably have his administration think up a smaller bill to help Wall Street, even if just slightly. I wonder how Mr. Paulson is doing? Haven't heard anything from him since the "terrible" decision. He's probably saying to himself "you know what, I'm going to stay quiet, because if I open my mouth, I'm going to lose it, and then, all after the fact, regret it...." Oooops, I was wrong. I'm watching him live right now. Ha, he looks EXTREMELY nervous. Hope he doesn't suffer an anxiety or heart attack. Funny thing is, today's my birthday. And today's also the day this long, dragged out thing (situation) finally came to an end.

Volt to be 100mpg?!

U.S. regulators hasn't clarified it yet but the Chevrolet Volt could possibly be marked off as the first 100-mile-per-gallon car. "It's a huge milestone to beat 100 mpg. It's bragging rights," said Rebecca Lindland, an analyst at Global Insight Inc. in Lexington, Mass. I don't know why, but I though this was a past feat. The Environmental Protection Agency (EPA) has made it clear that testing guidelines hadn't been finalized as yet. So I guess if GM really manages to pull this off, the Volt would surely be their shining star. But when it actually hits mass production, it better be reasonably priced cause even with all that it's doing and all that it will be able to do, if it doesn't sell, GM will definitely slump.

NYU Professor Thinks It's Possible GM Will Have To Start From Scratch

Default expert Edward Altman said that "there is a 50 to 55% chance of GM default." I agree, as there are other large firms already on respirators. This could be a good thing for GM, though. They will be able to brainstorm new ideas and how to function in an era where we are now doing everything at once. Example, instead of choosing between preserving the environment and doing business at all cost, both are done simultaneously. Green marketing is now a major new concept, focused on products that are environmentally safe(r).

Proper Problem Solving

If you ask me, no one knows what to expect. It seems that all these officials don't even know what the (their) real problem is. And if this is truly the case, will anything get solved? I know what your thinking, a rhetorical question that has a formal answer(s). There hasn't been a final take on this $700 billion bailout and it has been floating around for some time now. With something this serious, this pressing, a decision should have been officially made (almost) as soon as the deviation arose. All that happened in Washington was nothing. No I'm wrong, what really happened was they all had friendly fun playing the "blame game." They were suppose to be working together to find a solution, but thier "game" ended in a stalemate. These apparently "smart" people obviously didn't learn a simple yet effective formula: what you (to) expect (after all, you must know what's expected, of you, your situation, your surroundings, and of others, etc), what actually happened, and if, any at all, there was a deviation, whether positive or negative.

Compressed Natural Gas

I recently read an article about yet another alternate fuel. Compressed Natural Gas (CNG) is one of many new "environmentally friendly" options to write out the use of our good old coal. I had no idea that there were so many different types of fuels available. There's, ofcourse, hybrids, clean-diesel engines, fuel-cell technology, ethanol (which actually sounds quite familiar) and more. So far, only one major CNG car is being offered to the consumer market, and it's the Honda Civic GX. CNG has been certified for Ford and GM, amoung others, so these corporation have the option of testing it out, to see just how "environmentally friendly" it really is.

Obama Is "Clearly" Ahead In New Poll

In a recent article I read, Democrat Barack Obama is ahead of John McCain by 9%. Since 2000, no Democratic candidate has had 50% or more support from pollers. Obama's percentage stood at 52%, while McCain's was 43%. Also, Obama is greatly favored over McCain, in terms of who the public thinks can better manage the U.S. economy (especially if something like what we are experiencing now occurs in the future). I agree totally that Obama is the better person overall, as he already exhibits managerial skills and performs managerial functions. Obama is already history, and hopefully, history will be Obama.

GM Gains Legislative Support

It's all been very gentlemanly so far. No name calling. No punches thrown. But a fight is brewing between heavyweights Toyota and General Motors over the way the government should support plug-in hybrid electric vehicles. Robert Wimmer, a Toyota research manager, told a Senate committee last week that proposed legislation "redefines plug-in electric vehicles to seemingly eliminate consumer tax credits for all but one plug-in vehicle design. Toyota believes this approach is counterproductive." The GM hybrid would be the main beneficiary of the bill, which would provide tax credits of up to $7,500. A plug-in hybrid being developed by Toyota might not qualify for a tax credit. The bill, as written, bases the credit on a vehicle's range in the electric-only mode. The Toyota design is expected to rely, more than the Volt does, on an alternating combination of electric and gasoline engine power.

My Comment (Personal Input):
What? I don't understand. GM is going to get a extra seven grand and change for making the Volt run solely on electricity? And only they benefit....quite unethical, it seems.

The Currently Messy Market

Volatility again swept the financial markets Monday as investors grew nervous about an amorphous government plan to buy $700 billion in banks' mortgage debt. Stocks fell sharply, taking the Dow Jones industrials down more than 370 points, while investors sought safety in hard assets such as gold and oil, which at one point shot up more than $25 a barrel. The dollar skidded lower, contributing to oil's surge, while the credit markets were still uneasy but not showing the frantic trading they saw last week. Oil's rise of $16.37 to a closing price $120.92 a barrel came as investors snapped up supplies to cover a contract that expired at the end of Monday's session. Gold, also in demand as a safe haven, rose $40.90 to $905.60. While investors last week were relieved that federal authorities were constructing a plan to relieve the nation's banks of their toxic assets, many weren't waiting for the details to emerge before seeking safety.

My Comment (Personal Input):
Everyone's losing their minds. Investors already know that it's all about risk in the stock market. And yet, now that this is happening, they're afraid. They are acting like a bunch of babies new to this world.

GM And The Economy "Running Out Of Gas"

"The Heartbeat of America" the ads for Chevrolet, General Motors' flagship brand of cars, used to boast. For better or worst, as the US auto giant celebrates its 100th anniversary this month, the company's health has never seemed more tied to the country's economic health. At a time when the US economy is spluttering, the country's most venerable car brand seems to be running out of gas. "General Motors is closely related to the old economy, the manufacturing economy that America was largely based for the good part of the last century," said Karl Brauer, editor-in-chief of automotive website Edmunds.com. As manufacturing declines in the new century, so has GM, that potent symbol of US industry. At its start, GM was known for being an innovative industry leader.

My Comment (Personal Input):
Now that the (U.S.) government (and the world) has a more pressing issue at hand, GM may be totally out of luck. Everything is increasing and the cost of living continues to rise. And with the possiblity of a global recession, things are really looking bleak. Seems like some sort of conspiracy....as someone or something must be somehow benefiting from these horrid events.

GM Shares Increases

Shares of General Motors Corp. soared Friday, buoyed by a huge rally in the overall market stemming from government plans to rescue banks from billions of dollars in bad debt. GM also may have gotten a boost from hopes that Congress will approve $25 billion in loans to the automotive industry. The Dow Jones industrials rose more than 375 points, bringing their massive gains to more than 785 points over the past two days. In afternoon trading, GM shares surged $1.54, or 14 percent, to $12.94 after topping out at $13.35 earlier in the day. Friday's climb came a day after the Detroit-based automaker's shares closed up $1.47, or 15 percent, at $11.40. Over the past 52 weeks, GM's shares have traded between $8.81 and $43.20.

My Comment (Personal Input):
Well good for GM. With all the bad they've been through, a little good is great. And if they somehow get their loan, they're gonna be in good shape. But that's IF they get the money.

GM Forced To Cancel Production Of A Compact

A parts shortage has forced General Motors Corp. (GM) to cancel compact car production slated for this weekend, a further complication as the auto maker strains to keep up with demand.
GM wanted to run two shifts this Saturday at a Lordstown, Ohio, factory that makes GM's most fuel-efficient U.S.-built cars, the Chevrolet Cobalt and Pontiac G5 coupe.
The company hasn't been able to satisfy demand for the Cobalt, a recent hot seller as consumers stunned by record fuel prices flock to more economical vehicles.
"We want to try to build as many as we can," GM spokesman Chris Lee said. " It's just unfortunate we can't do it this Saturday."
Regular weekday production remains unaffected, the company said. Lee declined to say which parts maker was responsible for the shortage.
Cobalt sales, up nearly 10% since the start of the year, fell 27% in August, a decline GM attributed to supply constraints.

My Comment (Personal Input):
Poor Gm. Affected negatively by gas prices again. Luckly, this is, or should, be a temporary problem. All other cars are still steadily produced.

GM Plans To Develop New Tecnology

GM is thinking futuristic and transformative technology that can boost innovation, enhance products, and cut costs. General Motors, with support from iRise and Capgemini, will discuss a new transformative technology being deployed enterprise-wide at the automaker that visualizes software applications before development. Capgemini, one of the world's foremost providers of consulting, technology and outsourcing services, enables its clients to transform and perform through technologies. iRise is the world's leading provider of visualization software for business applications. GM is incorporating visual modeling technology into its global processes to produce simulations that result in more user-friendly IT systems. Visual modeling, results achieved by GM, and future implications will be outlined at a press conference on Monday September 29.

My Comment (Personal Input):
Now this is what I'm talking about! New technology is always the way to go. And this can greatly boost GM's reputation. They can also gain more profit and start off strong towards another century of business.

GM Greatly Helps Out Delphi

General Motors has agreed to expand its bail-out of Delphi, its biggest parts supplier, by boosting the value of its financial support from $6billion to $10.6billion and implementing the aid package sooner than planned. Delphi has been in bankruptcy protection for the past three years and struggled to finalise a restructuring since a group of private equity investors withdrew in April. The parts maker’s problems have become a millstone for GM, its former parent, which is itself battling to staunch huge losses and dwindling cash reserves.Under the latest deal, announced late on Friday, the carmaker has agreed to assume responsibility for $3.4billion in Delphi pension-fund liabilities, up from $1.5billion previously, and to bolster Delphi’s balance sheet by $1.2biliion before the end of this year. The latest deal was partly driven by threats from the US Pension Benefit and Guaranty Corporation to put a $900million lien on Delphi’s foreign assets as security for the parts maker’s underfunded pension plan. Delphi will seek bankruptcy court approval for the deal on September 23.

My Comment (Personal Input):
Once again, a suffering firm. And a suffering firm helping a suffering firm equals suffering firms. Funny thing is, Delphi used to be owned by GM. It later spun-off and became a fully independent publicly held company (Hence its now name, Delphi Corporation).

One Of GM's New Vehicles

The Chevrolet Volt is expected to be the icing on General Motors’ 100th birthday cake this week. The much-promoted sedan, which will operate as an electric car in typical local driving, is intended to provide a jump-start for the company’s second century. By mobilizing its formidable marketing resources, G.M. has piqued interest in the Volt. The timing of the Tuesday event is fortuitous, for much more is riding on the Volt than whether a new model using experimental technologies will be a hit. For if the Volt succeeds, it could put the troubled company on a whole new path after 10 decades tethered to the internal-combustion engine. If it fails, it could drag G.M., and perhaps the entire struggling American auto industry, even further behind Asian competitors.

My Comment (Personal Input):
It will be interesting to see how the Volt does. I think that people are going to stick with foreign cars. They have been making hybrid cars for years. And older models are really cheap, so more people will be purchasing them.

General Motors, International Management and Cross-Cultural Competence

General Motors Corp., the world's largest automaker, has been the annual global industry sales leader for 77 years. Founded in 1908, GM today employs about 266,000 people around the world. With global headquarters in Detroit, GM manufactures its cars and trucks in 35 countries. In 2007, nearly 9.37 million GM cars and trucks were sold globally under the following brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, HUMMER, Opel, Pontiac, Saab, Saturn, Vauxhall and Wuling. GM's OnStar subsidiary is the industry leader in vehicle safety, security and information services.General Motors is the best selling auto maker in China. The Buick brand is especially strong, led by the Buick Excelle subcompact. Cadillac initiated sales in China in 2004, starting with imports from the United States. GM pushed the marketing of the Chevrolet brand in China in 2005 as well, moving the former Buick Sail to that marque. The company manufactures most of its China-market vehicles locally, through its Shanghai GM joint venture. Shanghai GM, a joint venture between the Chinese company SAIC and General Motors, was created on March 25, 1997. The Shanghai GM plant was opened December 15, 1998 when the first Chinese-built Buick came off the assembly line. The SAIC-GM-Wuling Automobile joint-venture is also successful selling trucks and vans under the Wuling marque (34% belongs to GM).
GM plans to create a research facility in Shanghai for $250m to develop hybrid cars and alternative energy vehicles.

My Comment (Personal Input):
GM covers/has a lot of brands. I didn't know that cadillac and hummer were/are GM vehicles. It's great that GM is such a powerful entity in our economy. But I feel that their plan to create a facility in Shanghai to develop more environmentally friendly automobiles is too little, too late.

United Airlines Hit Hard By Old News

A Nearly 6-year-old news story on the 2002 bankruptcy filing of United Airlines resurfaced on the internet on Monday, clobbering the airline's shares as some traders mistook the report as current and plausible news.UAL, parent of United Airlines, and several news organizations involved were blindsided by the resurrection of the Chicago Tribune article. UAL, which exited bankruptcy more than two years ago, demanded a retraction by the Florida Sun-Sentinel, where the out-of-date report first appeared.UAL shares fell 76 per cent to $US3 ($3.77) after the article was posted on the Bloomberg financial news service. The magnitude of the decline may underscore the lack of confidence investors have in UAL and the troubled airline industry in general. "A part of the reason why investors reacted so dramatically is because the airlines are on shaky financial footing," said Jim Corridore, equity analyst at Standard & Poor's.

My Comment (Personal Input):
I can't remember hearing about United Airlines in the past, when they were really facing problems. But it's obvious now that they are in pretty bad shape, due to a simple mishap. As a matter of fact, these big (N.Y./U.S.) industries that were successful for so long are going through tough times today. And so is our economy, in general.

The Begging Not-So-Big Three

Plunging auto sales, high gas prices and election year politics could help convince Congress to approve a $50 billion loan package to embattled U.S. automakers that Detroit's Big Three claim is key to their future success.
On Wednesday, General Motors (GM, Fortune 500), Ford Motor (F, Fortune 500) and Chrysler LLC reported monthly sales declines of at least 20% from a year ago, as American car buyers continued to turn away from SUVs and pickups and towards more fuel efficient car models.
The Big Three are now in the process of closing truck assembly lines and rushing to catch up with hybrid and other fuel efficient offerings from Toyota Motor (TM) and Honda Motor (HMC).
But with GM and Ford saddled with junk bond debt ratings and privately-held Chrysler with the thinnest capital cushion of the three, Detroit is caught in a credit squeeze that will make such investment difficult if not impossible. "Funding such a shift is a tough lift even under optimum circumstances," said GM spokesman Greg Martin. "The credit markets are suffering. You had this seismic inversion of the market where no one wants to buy a full-size truck." The $50 billion loan package, first proposed by the auto industry last month, has won the support of presidential candidates Barack Obama and John McCain as their campaigns eye key votes in Michigan and Ohio.

My Comment (Personal Input):
Between 2005 and now, GM alone lost more than $50 billion. That's a lot of money! And now all three companies are asking for one huge lump sum? Futile effort, if you ask me.

How Much Do I Know About Chapter 1

Question 1. What is management?
My answer: Management is being able to work with and through people to achieve business/organizational objectives.
Textbook answer: Management is the process of working with and through others to achieve organizational objectives in a changing environment.

Question 2. What is effectiveness?
My answer: Effectiveness is getting objectives done in a proper manner.
Textbook answer: Effectiveness is a central element in the process of management that entails achieving a stated organizational objective.

Question 3. What is efficiency?
My answer: Efficiency is getting objectives done quick/fast and measuring resources used relative to results.
Textbook answer: Efficiency is a central element in the process of management that balances the amount of resources used to achieve an objective against what was actually accomplished.

Question 4. What is offshoring?
My answer: Offshoring is sending jobs to low-waging countries.
Textbook answer: Offshoring is a controversial practice of sending jobs to low-wage countries.

Question 5. What is the internet?
My answer: The internet is a global network connecting PCs and business computers.
Textbook answer: The internet is a global network of servers and personal and organizational computers.

Question 6. What is e-business?
My answer: E-business is doing your business online to improve every aspect of your firm.
Textbook answer: E-business is a business using the internet for greater efficiency in every aspect of its operations.

Question 7. What are managerial functions?
My answer: Managerial functions are basic objectives that have to be carried out to bring about desired outcome to a company.
Textbook answer:Managerial functions are general administrative duties that need to be carried out in virtually all productive organizations to achieve desired outcomes.

Question 8. What are managerial skills?
My answer: Managerial skills are observable practices that an effective manager exhibits.
Textbook answer: Managerial skills are specific observable behaviors that effective managers exhibit.

Question 9: What is a small business?
My answer: A small business is a private and profit-seeking venture with fewer than 100 employees.
Textbook answer: A small business is an independently owned and managed profit-seeking enterprise with fewer than 100 employees.

Question 10. What is entrepreneurship?
My answer: Entrepreneurship is the practice of going for an opportunity with little or none of the resources needed to fully start/function.
Textbook answer: Entrepreneurship is the process of pursuing opportunities without regard to resources currently under one's control.

GM Blog

General Motors (GM) was founded on September 16, 1908 in Flint, Michigan, as a holding company for Buick, then controlled by William C. Durant, and acquired Oldsmobile later that year. The next year, Durant brought in Cadillac, Elmore, Oakland (later known as Pontiac) and several others. In 1909, General Motors acquired the Reliance Motor Truck Company of Owosso, Michigan, and the Rapid Motor Vehicle Company of Pontiac, Michigan, the predecessors of GMC Truck. Durant lost control of GM in 1910 to a bankers' trust, because of the large amount of debt taken on in its acquisitions coupled with a collapse in new vehicle sales. A few years later, Durant would start the Chevrolet Motor car company and through this he secretly purchased a controlling interest in GM. Durant took back control of the company after one of the most dramatic proxy wars in American business history. Shortly after, he again lost control for good after the new vehicle market collapsed. Alfred Sloan was picked to take charge of the corporation and led it to its post war global dominance. This unprecedented growth of GM would last through the late 70's and into the early 80's.