the great team and the great boss----MANCHESTER UNITED

     I am a student in Professor Arvan's Econ 490 class, writing under an alias to protect my privacy, using the name of a famous economist Elinor Ostrom as part of my alias.       Over the years, I have been a fan of Manchester United Football Club. After reading the article, the fist organization that came to my mind is Manchester United. I think the ups and downs of Manchester United in recent seasons can perfectly illustrate the ideas of the article.        Sir Ferguson served as the head coach of Manchester United from 1986 until 2013, and won 38 trophies. During his tenure, he is reputed as the greatest coach in history, and the Manchester United also completed a renaissance, becoming the football club that has the highest market value of foot. Needless to say, Ferguson had an absolute right when he managed the Manchester United, he could decide the sales of players in the club without being controlled by the owner of football team, amd develop long-term plans for the team, without the least apprehension of being dismissed because of poor performance in a season. Meanwhile, Sir Ferguson is indeed a powerful manager, who attaches emphasis to the training of team and is good at using young people, this can be proved by the 92 training session and Cristiano Ronaldo. He knows how to develop long-term plans, is good at reconciling players' contradictions and adjusting the locker room atmosphere, and keeps abreast with the advanced concepts of world soccer. Meanwhile, he is a manager willing to communicate with other personnel, including team's investors, players, associate coaches and even cleaning staff -- I had read the apology letter that Sir Ferguson wrote to a cleaner who was fired by the team, which greatly maintained the team's image. Under his leadership, the team had extremely healthy operation. This excellent manager had effective communication with subordinates, and could solve problems in a timely manner. Sir Ferguson is also able to stimulate players' enthusiasm, enabled players to have a strong sense of collective responsibility, the new players often reminded themselves that "I play football under the guidance of the great Sir Ferguson". After the World Cup in Germany, he tried his best to defuse the contradictions between Rooney and Cristiano Ronaldo, united members of the organization, thus ensured the future glory of Manchester United. I think this is the key to Sir Ferguson's success in Manchester United.       Sir Ferguson retired in 2013. His successor Moyes had poor performance and refreshed the worst records of Manchester United. Moyes also wants to be a "dictator" like Sir Ferguson, however, due to his poor management ability, he cannot adjust the atmosphere in the locker room, but he is still reluctant to change his tactical style or learn any advanced football philosophy, he guides the Manchester United to a downward trajectory.     All powerful organizations are inseparable from good managers.  Although there are differences between management models, but it is undisputed that a manager plays great role in the success of a organization.

Transaction costs

I am a student in Professor Arvan's Econ 490 class, writing under an alias to protect my privacy, using the name of a famous economist Elinor Ostrom as part of my alias.

On summer vacation, I have developed some exciting plans. There are some options about what I would like to do or my expects expect me to do. Firstly, I can run a noodle shop in the downtown together with my friends. Secondly, I can intern in a beauty parlor which is a family business. Thirdly, I can take part in a volunteer program in Bangkok. Fourthly, I can spend my time in Bali Island. Fifthly, I can intern in a bank. It is obvious that this summer vacation has been too short for me to fulfill so many plans. So I need to choose among them. Although my parents really want me to intern in their beauty parlor, I just feel that it is out of line with my interest completely. What is more, I really feel so interested in running a noodle shop because of the fresh ideas and passion it has involved. But in the end, I still decided to intern in the beauty parlor and thus missed the chance to set up my own business. However, the study in the beauty parlor is still worth the effort. That is because I have a taste of the hard work of my parents and also manage to prove my ability to them. For example, I once helped them in purchasing the body-shaping laser equipment abroad. I also tried to buy the household goods with high performance-cost-ratio in Taobao. In a word, I have made the best use of my ability as an international student to create my value. After the one-month internship, I also decided to act as a volunteer in Thailand rather than travel around Bali Island. Although it will be a good experience for me to relax myself and enjoy the view of Southern Asia in Bali Island, I still chose to volunteer in Thailand as a southeastern country. It has been a training of greater meaning to me. When in Thailand, I tried my best to teacher children there English and Chinese. Those children also brought me to ride an elephant and eat the local fruit, which is not available in Bali Island. I could have enjoyed my vacation in Bali Island, but I just feel that I should make better use of my youth to do something meaningful. At the end of the vacation, I also interned in a branch of China Merchant Bank. During this one-month vacation, I also missed out the opportunity to get together with my classmates because of the internship, which made me feel a little sad. I still believe the internship is a worthy experience. Through the two internships, I have also managed to compare the advantage and disadvantage between two companies. What is more, I also tried to give some advice to my parents. After having a taste of the strict costume management, performance requirement and enterprise culture in China Merchant Bank, I have also identified the shortcoming of my family business. It has impressed my parents so much. We are faced with various choices in daily life. Although the transaction  cost is an important consideration, I think it is even more important to learn something from what we are engaged in.  

Elinor Ostrom

Today I would like to give an introduction of the economist Elinor Ostrom who is known as the first woman in human history to win the Nobel Prize for economics. She is also an outstanding politician. In the whole life, she has written a large number of works featured by the logical approach to analyzing the political system. She has noted that the public affair will not be necessarily in the charge of government agency for the reason that the government has acted as the arranger and provider of public affair at the same time. She also adds that the public affair can be managed by many organizations, which has gradually turned into the famous theory of multi-center management. The theory can be not only applied to the economics but also a wide range of social sciences. In this sense, I also regard her as a philosopher. Although she has gained a deep understanding of public affair administration, she has believed that her theory will not be necessarily the only solution. She has also believed in the efficiency and fairness of the management as well as appreciated the fresh ideas and affairs. After browsing some Chinese websites, I have found that she has also highly valued the study made by Chinese scholars. Every year, there are two or three Chinese students visiting her research institute to study the theory of micro-or-macro economics. What is more, she has also visited China for three times. As a matter of fact, her analysis and theory on the public resource has also influenced Chinese scholars deeply. 

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