CEO&Chairman

Question: What is the performance of firms whose CEO&Chairman of the board are the same.
Compare/contrast with the firms that have splitted two roles.

Chair is a term frequently used for the highest office in an assembly such as a committee, commission, or board. The term is also applied to the holder of the office. http://en.wikipedia.org/wiki/Chairman
A chief executive officer (CEO) is the highest-ranking corporate officer or administrator in charge of total management of a corporation, company, organization, or agency, reporting to the board of directors.
http://en.wikipedia.org/wiki/Ceo

Combining the roles:
-Give the CEO multiple perspectives on the company as a result of their multiple roles, and empowering them to act with determination
-able to withstand pressure better
-little transparency into the CEO’s acts and their actions can go unmonitored that paves the way for scandal and corruption
Separating the roles:
-chair can check up on the CEO
-They focus on different, equally vital aspects of the company’s performance
-able to govern the board in a more impartial manner, meaning that investor returns could potentially be higher
(from an article, source: www.articleset.com)

Clothing companies that have same CEO&Chairman
-Abercrombie&Fitch->Michael S.Jeffries
-Guess->Maurice Marciano
- American Eagle Outfitters->Jay Schottenstein
-Gap Inc.->Glenn Murphy
-Giorgio Armani->Giorgio Armani
-Forever21->Jerry Szczepanski
-American Apparel->Dov Charney
-Ralph Lauren->Ralph Lauren
-Quicksilver->Robert B.Mcknight
(I could not find firms that have different CEO&Chairman in the clothing industry)

Received E-mail from S&P(Standard and Poors, the company that provides information about other companies, corporations) after asking them if they could provide any research results about CEO and chairman.

Dear Yujung Kim:
Thank you for contacting Standard & Poor's for your information needs. Please be advised your request has been forwarded to the Index Services Department.
The Index Services Department will be contacted shortly regarding your request. You may contact them directly at (212) 438-2046 or via email at index_services@standardandpoors.com.
Should you have any further questions or concerns, please feel free to contact me.
Thank you,
Susan McMillian
Client Services - Research Department
Standard & Poor's
55 Water Street, 34th Floor
New York, NY 10041
Ph: (212) 438-7280, option 2/Fax (212) 438-7290Email: Research_Request@StandardandPoors.com

Business Etiquette and Protocol in Italy

Relationships & Communication

. Italians prefer to do business with people they know and trust.
. A third party introduction will go a long way in providing an initial platform from which to work.
. Italians much prefer face-to-face contact, so it is important to spend time in Italy developing the relationship.
. Your business colleagues will be eager to know something about you as a person before conducting business with you.
. Demeanour is important as Italians judge people on appearances and the first impression you make will be a lasting one.
. Italians are intuitive. Therefore, make an effort to ensure that your Italians colleagues like and trust you.
. Networking can be an almost full-time occupation in Italy. Personal contacts allow people to get ahead.
. Take the time to ask questions about your business colleagues family and personal interests, as this helps build the relationship
. Italians are extremely expressive communicators. They tend to be wordy, eloquent, emotional, and demonstrative, often using facial and hand gestures to prove their point.

Business Meeting Etiquette

. Appointments are mandatory and should be made in writing (in Italian) 2 to 3 weeks in advance.
. Reconfirm the meeting by telephone or fax (again in Italian).
. Many companies are closed in August, and if they are open many Italians take vacations at this time, so it is best not to try to schedule meetings then.
. In the north, punctuality is viewed as a virtue and your business associates will most likely be on time.
. The goal of the initial meeting is to develop a sense of respect and trust with your Italian business colleagues.
. Have all your printed material available in both English and Italian.
. Hire an interpreter if you are not fluent in Italian.
. It is common to be interrupted while speaking or for several people to speak at once.
. People often raise their voice to be heard over other speakers, not because they are angry.
. Although written agendas are frequently provided, they may not be followed. They serve as a jumping off point for further discussions.
. Decisions are not reached in meetings. Meetings are meant for a free flow of ideas and to let everyone have their say.

Business Negotiation

. In the north, people are direct, see time as money, and get down to business after only a brief period of social talk.
. In the south, people take a more leisurely approach to life and want to get to know the people with whom they do business.
. Allow your Italian business colleagues to set the pace for your negotiations. Follow their lead as to when it is appropriate to move from social to business discussions.
. Italians prefer to do business with high-ranking people.
. Hierarchy is the cornerstone of Italian business. Italians respect power and age.
. Negotiations are often protracted.
. Never use high-pressure sales tactics.
. Always adhere to your verbal agreements. Failing to follow through on a commitment will destroy a business relationship.
. Heated debates and arguments often erupt in meetings. This is simply a function of the free-flow of ideas.
. Haggling over price and delivery date is common.
. Decisions are often based more on how you are viewed by the other party than on concrete business objectives.

Dress Etiquette

. Dressing well is a priority in Italy.
. Men should wear dark coloured, conservative business suits.
. Women should wear either business suits or conservative dresses.
. Elegant accessories are equally important for men and women.

Business Cards

. Business cards are exchanged after the formal introduction.
. To demonstrate proper respect for the other person, look closely at their business card before putting it in your card holder.
. It is a good idea to have one side of your business card translated into Italian.
. If you have a graduate degree, include it on your business card.
. Make sure your title is on your card. Italians like knowing how you fit within your organization.

http://www.kwintessential.co.uk/resources/global-etiquette/italy-country-profile.html

Hilarious YouTube Financial Commercial

Check out this hilarious (personally I don't know) financial commerical!

1. http://www.youtube.com/watch?v=gHnc2AiBI0E

EPGY - Michael Young

Portuguese Business Etiquette

Meeting & Greeting

. Initial greetings are reserved, yet polite and gracious.
. The handshake accompanied by direct eye contact and the appropriate greeting for the time of day.
. Once a personal relationship has developed, greetings become more personal: men may greet each other with a hug and a handshake and women kiss each other twice on the cheek starting with the right.

Titles

. The proper form of address is the honorific title 'senhor' and 'senhora' with the surname.
. Anyone with a university degree is referred to with the honorific title, plus 'doutour' or 'doutoura' ('doctor') with or without their surname.
. Wait until invited before moving to a first-name basis.
. Use the formal rather than the informal case until your Portuguese friend suggests otherwise.

Building Relationships & Communication

. The Portuguese prefer to do business with those they feel comfortable with, which means those that they know they can trust.
. Therefore, it is advisable to have a mutual contact provide the initial introduction.
. Expect to invest a great deal of time developing the relationship.
. The Portuguese prefer face-to-face meetings rather than written or telephonic communication, which are seen as too impersonal.
. Relationships are built with people, not companies.
. If you change representatives or people on a negotiating team once negotiations have started, the relationship-building process will have to begin again.
. It is important that you treat business colleagues with respect and not do anything to embarrass them.
. Although honest, the Portuguese do not volunteer information unless solicited, especially if remaining silent is in their best interest.
. Although the Portuguese are not emotive speakers and do not use hand gestures, they may be demonstrative when greeting friends. . If you tend to use hand gestures while speaking, you may wish to moderate your behaviour since it may incorrectly be viewed as overtly demonstrative.
. Portugal is a hierarchical culture that respects age and position.

Business Meeting Etiquette

. Appointments are mandatory and should be made 1 to 2 weeks in advance.
. Reconfirm the meeting a few days in advance.
. Initial correspondence should be written in Portuguese.

Negotiating

Wait for your Portuguese colleagues to bring up business. Never rush the relationship-building process.
. Portuguese are very thorough and detail-oriented.
. Portuguese prefer to do business for the long-term although at times they focus on short-term gains.
. Business is conducted slowly. You must not appear impatient.
. Have printed material available in both English and Portuguese.
. Do not use high-pressure sales tactics. Portuguese are offended by aggressive behaviour.
. Portuguese business is hierarchical. The highest-ranking person makes decisions.
. Portuguese negotiate with people - not companies. Do not change your negotiating team or you may have to start over from the beginning.
. Contracts are respected.

http://www.kwintessential.co.uk/resources/global-etiquette/portugal.html

EPGY- Ashish Patel

1950s Cigarettes Commercial

Lucky Strike Marching Cigarettes Commercial

http://www.youtube.com/watch?v=aidybhxCNyg&feature=related
Enjoy:)

Chinese Business Etiquette

• Business Cards - Present and receive cards with both hands. Never write on a business card of put it in your wallet or pocket. Carry a small card case.
• Hand Shakes - Meetings start with the shaking of hands and a slight nod of the head. Be sure not to be overly vigorous when shaking hands as the Chinese will interpret this as aggressive. Physical contact should be avoided - especially when doing business. The only circumstance in which it may take place is when a host is guiding a guest. Even then contact will only be made by holding a cuff or sleeve. Be sure not to slap, pat or put your arm around someone's shoulders.
• Persuasion - There may be sensible and intellectual discussions, but individuals know their place in the team or organization (hierarchy), e.g., contributing or deciding role. They know when to stop or when pushing too hard may be offensive or counterproductive.
• Confrontation - Chinese avoid confrontation altogether. This is done to save face and preserve group harmony (as confronting can translate to there being a winner and a loser). Individuals should discuss different viewpoints and try to build consensus. This holistic culture does not compartmentalize work and personal feelings. Its important to note everything is personal.
• Compromise - Chinese know what they want and are willing to compromise. ‘Give and take' is a means to achieve harmony in Chinese culture. As such, compromise is not considered weak or giving in.
• Revisiting agreed items or terms - It is not unusual for Chinese to revisit items previously discussed and agreed upon, and try to renegotiate. If this happens, graciously enter into talks, be flexible and well prepared for what you are willing and unwilling to do, and prepare your organization that there may have to be changes.

Sources:
http://www.kwintessential.co.uk/etiquette/doing-business-china.html. Accessed on July 18, 2008.
http://www.ventureoutsource.com/contract-manufacturing/benchmarks-best-practices/executive-management/china-how-to-negotiate-and-other-chinese-business-practice. Accessed on July 18, 2008.

Business Crimes: BBK Controversy

The BBK Controversy is a massive financial scandal that occurred in South Korea immediately before the 2007 Presidential elections. The presidential candidate Myungbak Lee was accused as one of the main shareholders of an asset management firm called BBK. BBK had artificially priced the stocks in order for the main shareholders to illicitly gain profits. Although, the Korean National Police Department had announced that the presidential candidate Myungbak Lee was innocent, the dispute over presidential frontrunner Lee Myung-bak's possible link to a financial scam took a new twist yesterday, after his rivals released video footage in which he publicly states that he established the investment fund at the center of the scandal. Despite these immoral deeds, however, presidential candidate Lee was elected as the tenth Korean president for his passion to improve the country's economy.

Link
http://www.asiamedia.ucla.edu/article.asp?parentid=84183
www.naver.com

South Korean Business Etiquette

Business practices in Korea

• The exchange of business cards in Korea is vital for initiating introductions. Korean’s prefer to know the person they are dealing with. Therefore, it is important to emphasize your title so that the correct authority, status, and rank is established. It is advised to have the reverse side of your card translated into Korean. Cards should be presented and accepted with both hands and must be read and studied with respect and consideration before placing them on the table.
• Gift-giving is a common practice within Korean business settings. Generally given at the first business meeting, gifts are often used to acquire favors and build relationships. You should allow the host to present his gift first and be sure to accept the gift with both hands. To avoid loss of face, gifts of similar value should be exchanged and gifts of greater value should be given to the most senior person respectively.
• Like most Asian countries, Koreans believe that contracts are a starting point, rather than the final stage of a business agreement and prefer them to be left flexible enough so that adjustments can be made. Although many Koreans now appreciate the legal implications regarding the signing of contracts, they may still be interpreted as less important than the interpersonal relationship established between the two companies. It is vital that you are aware of how your Korean counterparts view these documents in order to avoid any possible misunderstandings.
• When meeting your Korean counterpart for the first time, always wait to be introduced as third party introductions are generally preferred. Today, it is quite common for Koreans to shake hands with foreign colleagues after a bow, encompassing both cultural styles. To show respect during handshaking, you should ensure that you support your right forearm with the left hand. When departing, a bow is usually sufficient.

Korean business etiquette (Do's and Don'ts)

• DO maintain an element of modesty and humility as these aspects are extremely important in Korean culture. With this in mind, you must try to avoid over-selling previous business achievements.
• DO make direct eye-contact when addressing Korean business professionals, as it is important to indicate your honesty and interest. However, some Koreans do not make
  Eye-contact for any length of time when in the presence of an authority figure as a sign of respect.
• DO refrain from being overly impatient. The decision making process in Korea is often done collectively and will therefore require more time.
• DON’T address a Korea by his or her given name as it is considered extremely impolite Korean names begin with the family name and are followed by a two-part given name. The correct way to address a Korean is with Mr, Mrs, or Miss together with their family name. You should address your Korean counterparts using appropriate titles until specifically invited to do otherwise.
• DON’T display criticism in public. It should be conducted in private where loss of face will be diminished. In a similar vein, opposing someone directly can also cause a Korean to lose face and should be avoided.
• DON’T use large hand gestures or facial expressions. Talking or laughing loudly is also considered impolite in Korean culture.

Links

http://www.executiveplanet.com/index.php?title=South_Korea
www.communicaid.com/south-korea-business-culture.asp

Indonesian Business Ettiquette

Here are some general do's and don'ts for business in Indonesia:

- Be on time for any meetings. The meetings traditionally start late, and your Indonesian business associates will probably arrive late. However, you are expected on time, and should never make any comment about the meeting starting late or any person arriving late.

- Do not give gifts or pictures that show dogs. They are considered unclean.

- Leaving food on your plate signifies you are impolite, so eat all the food you are served

- Never stand with your back to an elderly person or a high ranking official. As you enter a room be aware of the people who will be in that room with you.

- Present a business card to each person you are meeting. Offer your card with the printing positioned so the recipient can read it. Your right hand holds the card, with your left hand supporting your right wrist. Your card will be received with both hands.

- Never carry your business cards, or place another person's business card in a back pocket.

- Mr., Madam, Mrs. or Miss is used if a person does not have a title. A man is addressed as Pak (Mr.) or Bapak(Sir) . A lady is addressed as Ibu.

- People are normally called by their first name, as in Mr. Robert or Miss Susan, rather than using their last name.

- Selamat means peace and is a traditional greeting.

http://www.cyborlink.com/besite/indonesia.htm accessed on July 18th at 1:40pm

50's Commercials

Here are some video clips of a Corn-Flakes and Kool-Aid commercial:

http://www.archive.org/details/Televisi1960

http://www.youtube.com/watch?v=TppRjknOryk

French Business Etiquitte

After several years of learning French as my second language, I've become aquianted with some of the French culture. Using Google to supplement my knowledge, here are some facts about business etiquitte in France.

--The formal "Vous" form is always used, unless one specifically asks otherwise.
--Business attire is usually conservative and understated.
--The French generally prefer to avoid uncertainty in their business deals
--Lunch, instead of dinner, is often the meal over which to conduct business
--An air of formality and reserve is the norm at all levels of business


Sources
http://www.cyborlink.com/besite/france.htm
http://www.kwintessential.co.uk/resources/global-etiquette/france-country-profile.html
http://www.executiveplanet.com/index.php?title=France
http://www.communicaid.com/cross-cultural-training/culture-for-business-and-management/doing-business-in/French_business_culture.php

Middle Eastern Business Etiquette

1) Among Jews handshakes are standard greetings. Among Arabs hugs and kisses are standard. If you're not Arab, you may get a handshake, but it's less like a handshake than it is a handhold, usually with both hands. Don't get nervous and don't move away. And remember that Arab men often hold hands as a gesture of friendship.

2) Expect to exchange business cards with everyone. In Arab countries, it's polite and expected that your business card will be in English in one side and Arabic on the other and Arabic on the other. Present your card Arabic up. In Israel, engraved business cards are preferred to printed ones.

3) Never say no directly; it causes shame. Find other ways to express disagreement.

4) Age is important in Turkey. Defer to the oldest person.

5) In Israel, business casual is acceptable in a wide range of businesses. In Turkey and the Arabic Countries, go conservative with dark suits and subdued ties. Business women may have a hard time in the Middle East, in Saudi Arabia in particular. If you're a woman brave enough to risk being ignored or shunned, remember that your knees and elbows must be covered at all times and that a high collar is required

http://www.pasadenaisd.org/rayburn/Clubs/BPA/contest/middleast.html

Business Etiquette in Argentina

I looked up Business Etiquette on google and found this sight. Here are some things cut out from the website:

Doing Business in Argentina
Argentines are tough negotiators. Concessions will not come quickly or easily. Good relationships with counterparts will shorten negotiations.
An Argentine contact is essential to wading through government bureaucracy.
Personal relationships are important and must be developed before business is done.
Argentines often need several meetings and extensive discussion to make deals.
Decisions are made at the top. Try to arrange meeting with high-level personnel.
Guests at a meeting are greeted and escorted to their chairs. The visiting senior executive is seated opposite the Argentine senior executive.
During business meetings, sustain a relaxed manner, maintain eye contact and restrict the use of gestures. Don’t take a hard sell approach.
Be prepared for a certain amount of small talk before getting down to business.
Make appointments through a high-level person. Your Argentine contact can help with this.
Confirm meetings one week in advance.
http://www.cyborlink.com/besite/argentina.htm

Head of Behavioral Economics

On my long-sought quest to find the Head of Behavioral Economics, I still have not found a specific one for any school. I am still in search for someone focusing on the field.

I have found:
Professor Rowena Pecchenino is the Head of the department of economics at the University of Wisconsin and studies in the field of behavioral economics. Her e-mail is Rowena.pecchenino@nuim.ie - http://economics.nuim.ie/staff/ accessed at 1:10pm

Assistant Professor Nicola Fuchs-Schündeln is a Ph.D from Yale but works at Harvard and is interested in behavioral economics. Her e-mail is nfuchs@harvard.edu - http://www.economics.harvard.edu/faculty/directory/faculty/D/F accessed at 1:14pm

James Poterba is a D.Phil from Oxford teaching at MIT and is the department head of economics as I mentioned in class. His e-mail is poterba@mit.edu - http://econ-www.mit.edu/faculty/poterba/ accessed at 1:18pm

Drazen Prelec is a Ph.D from Harvard teaching at MIT as well and is interested in behavioral economics. His e-mail is drewk@mit.edu - http://econ-www.mit.edu/faculty/ accessed at 1:21

And last of all there is Matthew Rabin who teaches at Berkeley (close by hint hint) who has been declared a genius in behavioral economics and got 500 grand for it. His e-mail is "rabin at econ.Berkeley.EDU" - http://www.argmax.com/mt_blog/archive/2000_06_economist_wins.php accessed at 1:25

This was all researched on Friday, July 18th

I have taken the initiative not to e-mail this supposed genius of behavioral economics :]