1、policies;top officersLifetimeLimitedUnlimitedTapescript:Businesses are structured to meet different needs. One basic difference involveswho is responsible for the business. Another involves how long the organization canstay in business.The simplest form of business is called an individual proprietor
2、ship. The wordproprietor comes from French and Latin words for property owner. The proprietor ownsall the property of the business and is responsible for it. The law recognizes nodifference between the owner and the business. Most small businesses in the UnitedStates are individual proprietorships.A
3、nother kind of business is the partnership. Two or more people go into businesstogether. An agreement is usually needed to state how much of the partnership eachperson controls. They can end the partnership at any time.But partnerships and individual proprietorships have a limited life. They existon
4、ly as long as the owners are alive.Some states permit what are called limited liability partnerships. These havefull partners and limited partners. Limited partners may not share as much in theprofits. But their responsibilities to the organization are also limited.The most complex is the corporatio
5、n. This kind of business organization isdesigned to have an unlimited lifetime. Investors in a corporation own stock. Thisis a share of the ownership. Investors can trade their shares or keep them as longas the company is in business.Investors may get paid dividends, a small amount of money for each
6、 share theyown.A board of directors company officers. Thecontrols directorsthe corporate might orpolicies. might notThe directors appoint hold any shares intopthecorporation.Not all corporations are traditional businesses that sell stock. The AmericanRed Cross, for example, is organized as a non-pro
7、fit corporation.Part IIMichael Dell vs. Frederick Smith (I)Exercise A.Michael Dell:1. Chairman2.CEO3. Dell 4. tenured CEO5. computer industry6. direct-to-consumer7. build-to-order8. Dell Computer 9. middle-manFrederick Smith:President 3. CEO4. FedEx5. transportation6. overnight delivery 7. just-in-t
8、ime delivery 8. FedEx 9. FedEx 10.ground deliveryKeys.1)the quality of service2)the breadth of the network3)the unique services needed4)the costJeff Greenfield: Thank you. OK look, its not all that unusually to dream up abusiness idea while youre in college. You know, you book the bandsforparties,yo
9、u deliverpizzas todorm. OK, dreamingup a newmulti- billion dollar industry from the ground up, this is a littleless usual. But it is something both of our guests accomplished evenif not everyone realized it at the time.WhenFredSmith wrotea termpaperoutlininghisidea foranovernightdeliveryservice,teac
10、hergave him a C minus. He offandwent on to createFederal Express.Wellbe talkingaboutthatand othermatters with Fred Smith, the Chairman, President and CEO of FedExCorporation, a little later in the program. But first Michael Dell,who dropped out of collegeaftera yeartostart the business,he stillheads
11、. As Chairman and CEO of Dell Computer, Michael Dell happens tobe the longesttenuredCEOin theentirecomputerindustry.Hesalsoman solely responsible forcreating thedirect-to-consumer modelthat sparked thewhole build-to-order revolution. MichaelDells aimis to eliminate the middle-man, a home-grown philo
12、sophy that carriesover into his hands-on management style.Before we get into the specific conversations, I want to knowsomething because the two of you have a relationship thatcustomers-like. Could you exist without a company like Fred Smithto supply your stuff Could it work if you didnt have adjust
13、-in-timedelivery system to get you your parts for your computers In our case, no. I mean, you know, we couldnt exist without FedEx,and I dont think FedEx could exist without our distributing. We aresort of mutually co-dependent here. Thats absolutely right. Michael understands that his efficacy with
14、his customers depends on delivering exactly as hes told his customerthat hes gong to deliver plus his production is just in time, so allthose parts and pieces from all over the world gotta to come togetherat the same time. Now he may have to for his own reasons use brandX, but clearly the best choic
15、e is FedEx.Greenfield: Nowyou go out, youre making a big push into the ground delivery businessas well.RightSmith: Sure. Michael, what would you want from him as a CEO and founder of Dell, tomake it more tempting for youDell: Well, its pretty straight forward. I mean, you know, you gotta be competit
16、ive,youve got to deliver on the things that are important to us, which meansthe quality of service, the breadth of the network, the.you know, uniqueservices that we need. For example, we have a lot of things going on withairlift out of Asia, coming in the US, and their network is particularlywell su
17、ited for this. And of course, they gotta be cost competitive. You put all that together and thats the sort of discussion we have, theres not a lot of real science to it, I mean. its pretty basic nuts and bolts. Heres what we need, you know, and here we need to stay competitive. Do you have a shot No
18、, Ill tell you Ive been listening to the whole lot of it, and usuallyIm doing everythinghe wants us to do. I can tell you that much.Part IIIMichael Dell vs. Frederick Smith (II)Efficient information system canA great part of economy will work on“supply1) all the unnecessary;more applicable2) the dis
19、tance betweencosts;chain ” because1) a fast cycle basis; a world of choice2) on a computer; customize3) have it delivered very rapidlyMichael:Motivation: The opportunity in the industry, in the businessAmbitions1.a leader not only in client computing, but also in the enterprise and servers and stora
20、ge.2.business not just in the United States but all over the world3.a lot of services that go along with the productsFrederick:Positive attitude towards future:companys futurePositive attitude towards work:going to work every daycompeteinnovatewonderful peoplea lot of very exciting business trends.
21、Let me turn now to the first theme we want to talk about, and that isthis build-to-order revolution. Does it change everything You know, I think first of all, you gotta look at the supply chain. Basically,what efficient information flows do is they, you know, they sort of take outall these costs of
22、transaction and processing that sort of, you know, add tothe ultimate cost of buying something. And if you view information as this kindof like vacuum that sucks out that unnecessary cost, there are certain productsor services where this is far more applicable. You know things that have veryhigh mar
23、k ups, things that depreciate in value at an incredible rate. Whats an example Take the car industry for example. Ok Not necessarily fit in small packagesyet, but you know when you go to buy a car, you typically go to a place wheretheres lots of cars and somebody guessed what kind of car, you know,
24、you weregoing to buy. And, you know thats, theres tens of billions of dollars in assetstied up in those guesses and what usually happens is you end up buying, notthe car exactly that you wanted but the car they happened to have. And thenthe signal back to the factory that that car that you just boug
25、ht, you know,is selling really well, so lets build some more. And the person who sold itto you gets a commissionfor sellingyou something thatyou didntquiteexactlywant to buy. And so you got capital tied up, you got costs tied up, and whatinformation systems can do is essentially shrink the distance
26、between thesource of demand and the source of supply.Therea lotworkthatbeen done inacademic realmthisissuesupplychainrejusttalkingabout.The latestfigureveseenwhichwasdonebyone ofschoolsinMidwesthasagoodtransportation and logistics practices. And about 40 percent of businessestodayareoperatedon a fastcyclebasis thatMichaeland Wal-Martand so forthpioneered. Now theres certain types of items that are very low in terms ofunit costs like groceries or gasoline you put in your car, or commodities ofone sort
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