the

Riding solo Ása Hlín Gunnarsdóttir

Did you know? The year was 1961, just a little under one year after brothers Tom and James Monaghan had purchased a pizza restaurant, DomiNick’s, for $500. After eight months of running the business as a partnership, James Monaghan got the bright idea to trade his stake in the business to his brother, for a used Volkswagen Beetle. Fast-forward 38 years and Tom Monaghan decided to retire and sell most of his stake in the company that was now known as Domino’s Pizza. He got a bit more than the price of a used Volkswagen Beetle though. Specifically, he sold 93% of his take for one billion dollars. One can only imagine the awkwardness at the Monaghan family gatherings. “Hey, so how’s that Beetle running?”

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What is business?

A business is an organization involved in the trade of goods or service. Business is also known as an enterprise or a firm, in capitalist economies, where most of them are privately owned and provide goods and services to customers in exchange for other goods, services, or money.

A business owned by multiple individuals may be referred to as a company.

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Famous managers

Steven Reinemund (Pepsi Co)

He made soda and potato chips to be mark of success in contemporary world of corporate competition. However Steven S. Reinemund made it more of Pepsi Co Inc a purveyor of junk foods; he made pepsi to $27 billion food and beverage giant as PepsiCo adds more than 200 product variations to its global portfolio of brands.

He stared his career from selling Japanese sneakers from the trunk of his car. And took nearly 40 years to make it $12.3 billion sports conglomerate. During 1980s and 1990s he completely changed the rules of the games for sports marketing. Next he changed high performance sports gear into a

When in 1999 Chung Mong Koo joined South Korea’s largest car making company, Hyundai Motor Co.1999, he had not much idea about his achievements in the company and tasks to do further on. However, to the latest update to the quality he put Hyundai as

Phil Knight (Nike)

Chung Mong Koo (Hyundai)

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Who is Ása Hlín and why business?

Ása Hlín is a 19 years old Icelandic girl with more larger dreams than Obama. She wants to be a manager in business. Manage a large business company. She has no problem talking in front of large groups or meeting someone new, so that is just a bonus. She has worked in a bank last two summers and absolutely loved it. When she started there she imagine herself as the bank manager. She set the aim pretty high and one day she is going to run a bank. Ása Hlín is aware that she has to work her way to the top and working in the bank in the summer helps a lot.

To get a full time job she has to get a B.A degree and a MBA degree. A bachelor’s degree is usually earned for an undergraduate course of study that nominally requires three to five years of study. MBA degree is a master degree in business administration. The core courses in an MBA program cover various areas of business such as accounting, finance, marketing, human resources, and operations management in a manner most relevant to management analysis and strategy. Is it more likely that a man would get the bank manager position than Ása Hlín?

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Interesting words

Bank A financial institution licensed as a receiver of deposits. There are two types of banks: commercial/retail banks and investment banks. In most countries, banks are regulated by the national government or central bank.

Gender differences The term applied to the typical differences between men and women that is often specific to a particular culture where domains as careers, communication, health, social awareness and orientation to the environment are seen.

Bank manager

Person who directs the business of a local branch of a bank.

Company A voluntary association formed and organized to carry on a business. Types of companies include sole proprietorship, partnership, limited liability, corporation, and public limited

company.

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Gender differences in promotion into top management jobs.

The process of becoming top executive officers (CEOs) in private firms is analyzed, whether there are lower chances for women than men to become promoted into top management jobs and whether firm specific factors or individual background characteristics plays a significant role. Men have a factor 5 larger probability of becoming promoted to a top 5 job as compared to women. On the other hand, if the CEO is a woman, potential female candidates seem to have a significantly larger probability of becoming a top 5 manager. Potential important individual factors like parental leave the number and age of the children and other family factors does not seem to be an important factor for the promotion opportunities for women (in contrast to men) but this may be due to statistical discrimination, i.e. the promotion probability for all women is lower than for men. Males’ career opportunities are declining if the wife is working, whereas the women’s careers are affected only if their husbands have a high level occupation.

Business is extremely wide concept. Every company, firm or institution has the same goal –to profit. My goal is to run the largest bank in Iceland.

THE RIDING SOLO WINTER 2014