INTERNAL TALK 13 - BUSINESS PHILOSOPHY - TRẦN HỒNG UYÊN THI - Nov 1st, 2021

02/ 11/ 2021

This workshop used inquiry-based approach. Four questions are asked and discussed in four teams: (1) what is business?, (2) what is management?, (3) what are functions of a manager?, and lastly, (4) what is philosophy of business? To answer each question, one team member was assigned to lead their team discussion, and presented their team answer.

In this first and second question, four teams came to similar definitions: a business [activity] is a commercial activity which involves providing goods or services with a primary motive of earning profits and management is the act of getting people together to accomplish desired goals and objectives using available resources efficiently and effectively. In the third question, four teams were different in their answers except two functions of a manager: planning and controlling. Two other functions, organizing and leading, were specified by two teams. One team used the model PDCA: planning, doing, checking, and acting. Key take-aways for workshop participants on what a manager does are four functions: planning, organizing, leading, and controlling. To avoid confusion of roles of manager and leader, their characteristics were described. In short, the manager is ‘to do thing right’ and leader is ‘to do right thing’.

In the final topic, philosophy of business, a definition was given: philosophy of business is the set of principles and beliefs that a company is working toward to achieve success. Nike‘s slogan ‘Just do it’ was cited as an example to illustrate their mission ‘bring inspiration and innovation to every athletes in the world’. Three videos were shown and analyzed by four teams to show how Nike conveys their philosophy in their consistent marketing campaigns.

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