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Thewords& phrases
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A
MACMILLAN
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Contents
B U S t N E S St O P t C S
Financial markets
The businesswo.ld
31 Financial markets
66
32 Investing in stocks
68
33 Re.ruitment
7A
72
74
The econo y
Th businesscycle
lnternational tlade
10
12
14
20
76
22
37 Your aompany
78
24
38 Youriob
80
Telphoning
28
13 Inside a factory
30
32
34
16 Lean production
17 Quality
38
lisiening
a2
a4
86
88
90
92
Emails
Salesand marketing
18 Sales
40
19 Cuttomer sedice
20 Markeb.nd marketing
21 Product
22 Distribution(pla.e)
48
23 Promotion
50
24 Price
52
25 Ma.keting management
54
Coftpany tinance
45 Emails- basica
46 Emails- inlernal .ommunkilion
47 Emails- aomrneftial
27 Balancshet
58
60
29 Managing <ashflow
62
30 Profitability
64
96
98
100
51 Presentations - oFn-E
52 Presentations - nEin boql
106
53 Presentationi - da*EIF
26 lncome statement
94
54 PresentatiorE - trcr*r
55 Prese8tatioG - t!*
56 Prsentatior6 - rrfu
l 02
104
108
bt
I10
112
114
LISTEiII G SCRIPTs
Meeting5
156
120
122
't24
A N S W E RK E Y
164
57 Meetings - opinions
118
126
124
130
146
WRITING PNACIICE
$kiting tasks
t5l
LISTEIIIIIIG
PRACTICE
Interviewr wlth bBlnest peopler ererrii5
1
Interviewwith a privateequityinvettor
Interyiew
with an entrepreneur
Interviewwith
a management
tainee
153
lnterviewwith
a supplychainmanager
153
nterviewwith
a salesmanager
154
Interuiewwith
a ma*etingdirector
154
Intervlew
with a financedirector
154
Interview
with a humanresources
director
155
vk.com/create_your_english
151
The economy
Whai drives the a orld economy?The simplestans{pr to
ilrjs questjor is'cons!mer spending'.And what drnes
consumerspendnlg?Sohe cohbination of the faciorsbeldr
is generallyconsideredio p(\,ide a reasonablean${cr
Governmenttrade policy
Thc hro polcs of govc.rucnt policl'arc liberalizationand
'Libralization'isassoci.lcdwiih frcc markets,open
bor.lers,dcr.Bulationand ihc frcc morc,nent of capiinl
around the world.
'Protcctionisnr'is associatcds'ith golcrntrent
inlcNcnlion, sulrsidics,quoiasand t iffs, and resiriciions
o ! l h c m o v c m c n oi i c i p i i a l .
Nation.l govci,nnentsdo hi!c som0gcnrin. choic.s herr,
cv.n if ihoy .ft'consh.nlcrl by thc p.licy of th.ir rc8ional
tridiig bkJc(og the EU, NA1TA, ASE,\N). ln ih. cod host
countrieshNc . mixc.l ccdnotuywhich is lonre('herc
briwccn ihc two crh'omos.
(l.n...lly sp..knrg, froo n.rkots pronartcgrowih ii thc
wodd d.onon\', and ptutcct.d markcisdos doer thc
pr1,c.ss(.lihough thcy nray ha!. a b.neficialeffecton
p . r t i c l l a r i n d u s l r i o si ' r s i d ci c o u D l r v ) .
consumer confidence
lf.onsumcrs are confideniaboui tomorrow,they will spend
more The main factorsaffechngconsumerconfidencearc
the lerel of memplovment ifpeople's jobs a.e at risk, or
the\.don t have a job, they sill spend less ind housepices
if people'shousesare worth more than ihev paid for ihcm,
the\.feel.ich and rvjllspend nrore rrcely.
lnterest rates
Inierestratesire setbv CeniralBanks When intresirates
are lo$r.onsumers and b!sinessesc.n boirow mon.y
cheaplyand ihere is a sfimuhs to the economy.8ut thc
cheap(edit alsocausesinflation an.t too much Liquidjiyin
the system.This liqli.lity leadsto bubblesin siock markets,
housingma.kets,eic. When ihe CeniralBank sccsthe need
b control inflafion dnd cool groivth a liiile, ii .aiscsintcrest
Exchangerates
Curncies fllciLutc againstcich othcr thc c!rc itg.inst th.
d o l l a r i h e t e n . g a i n s tt h c y u a n .T h i s i s d u c k ) m a n yc o m p l c x
factoE such as the undc.lying st..ngth of thc economy,
inicrcst ratc diffcrcntinlsand spcculitnr. Ha!ing a sirong
curcncv makcs impo.ts chcip f(r dotucsticconsrmcrs.irut
huris cxpo.te.s(rvhoscPrcducit bccotuchotu orpdlsivc
Eflects of globalization
C oser
Rapidflow of
Cultural
Ecological
Cross-cult!ral
Global
rmmrgraton;
cnaengs
neding
acrossthe qlobe
externallrnancinq
1 THE ECONOMY
Exercises
1.1 Find a word in th text opposite thal matches ach
definition below' The words appear in orcler.
1 makessomethinqwork; p.ovidesthe power for somethng
dctivty
2 removing
the rusandlawsthatcontrobusints
pdysto supporlndunresor
3 moneythattheqovrnrnent
' p d L , F r p r o . p. oo d u . r
4 officallrnitson the amountol somethng
5 " . p . o . g o o do. - 9 . n l o d . o - n t a /
6 limited,rstrded
r e d r o L o ln o n e y n c i c - l c t o .
8 periodsof t mewh-"npeoplepaymorclhanthe realvaue
o . o 1 e l 'n q .b . 5 o ' a r r - a o L d
9 wth dn important
efiect,but onethat iln t easyto notce
th ngs
10 (forma,the degreeoi difference
between
Now do the samefor the words in 'Efiectrof
globalization'opposite.
11 whnpeop h.ve..oneyandeverylhng theyneedlor a
good f
12 theab ityto readandwlte
1.2 [4akephrasesby matchjngan item from eachcolumn.
I consumer
movement
oJcapital
\
2 fre
and
convacton
\
3 growih
\ ...- borders
4 Ie
rpendinq
5 open
oi livnq
5 standard
expectancy
8
9
l0
1I
12
goods
rntren
cheap
socia
L r n d e rnl yg
srengrn
oamaqe
e , . r d n q A, d r F .d p p p d
' or lr
or rne economy.
d?
T h eb u s i n e sw
s orld
History shows thal there is a business cyde that repeats again and agai4 although of .oue tlle detaiis vary
each time. Look at the diagram below. The outer circle is the ycle of eonomic expmion md conbaction.
The next circle icide shows some storsof fte economy that tend to do wel at particular tims duing this cyde.
The cnde inside that shows interst rates and infiation. Finalv, the imer cinl shows the sidk market cvcle.
Grotvth
Let's go roud the diagram,starting at twelve otlock. This
point marksthe end of waknessin the conomyand the
early siSnsof growth. Wlat hascausedthesegrnshoots?
Theclue is interestrater which bottomedout around
eleveno'lock.lj)w interestratesmeancheapborrowhg for
individuals md compani$. Amongst the quickestsctorsto
resPondm consmer discrtionary(eg restaurants,leisure,
travel) hd technology.
Onetherearearly siSnsof growth, tnnsportation picks up
(moregoodsarebeing shipped),and indutry spendsmorc
on capital goods(egmchinery). During this pedod,infiation
startsto rise, and sobondssuffei Bondspay a 6xed rate of
interesito their bondholde$, and the value of this intelestis
erodedover time as inflation gosup-
Corltra(tion
Now ils seven o'dock arld w'rr {tkd
d. Fin
of
conhaction. Stock Mkets are A|L? Ltcrd
8-Ls
se the danger md e lowrit iH
rG
b -'m8e
spending md avoid a r.tsin- Bd
q'd
Frtudy
to the drop in rat6, md th.{.as'hlh.
to
f;l.
safety' etr(t 6 invsrors rFirD-.b
-&-
rtqte
nore
a bottom
ir d real
sms
Now the
rd fte whole
2 THEAUSINESSCYCLE
Exercises
2.1 Putthe words in italicsin order 1-4.
a Theeconomy,
nart ng at twev o clorkon th
diagram,
rhows ..
contraction I a downturn
an upturn
) expansion
b Thenock market,staaring
at eleveno'cockon the
dragrdm,..
perks
battoms
turnsdawn
2.2 MatcheachsectoroI th economyl-'10 with an
indurtry group a-i.
1 Basicrnaterid
s
6 Enerqy
3 Cornmerc
al serurcs
4 Consurner
d scretonary
5 Consurner
stdpes
8 Technology
10 Ut (res
a holes,restauranis
c
d
f
9
h
i
j
empoymenl
agences,
audtnq
rnachinery,
eqLiprnent
goods,
household
foodretailnq
insurance
banking,
software,
rommuncatonsequpr.ent
gasprodu(ton
oilprodlction,
electrcty,
waier
air nes,ogsllcs
What.ancentralbanke6andgovernment
'
do?can theyprevent
a contractonfromturnng inloa rccesson?
Whattools
areavaabe io them?Thefollowingihreearethe most
Interertrate adjustments
Thesvonqest
economy
andfastesttoo n a weakening
s the cenvalBanks'abrty io cut rnteresl
rates
Forcompan
esand ndvidu.s with existnq bank
repayments
oans,
arered!ced,lor others,
'
ss
oecomes
qlrarteFpornts
expen5veMostCentraBanksdropratesby
ralesst takestwo
or,at cruoa t mes,half-ponts Lowerinq
or threeqlarlersto benefitan economy,
andit doesalso
Thenegatrve
arethat t weakensa ndtion's
consequenc$
(urren.y.andthatanyqrowthi t c a u s em
s a yb e i n f l a t o n a r y
Economic
stimulus
A naiionalgovernment
canchooseto spendmon/
usudy moneyrt mun borrow on all sorisoJprcjectsn
orderto nimulateihe economyThs puismoneybackinto
peop'spockets
to
so thattheycanbly goodsandservces
o
boostlhe eco.on/
-fhe
areanotherwayoi achevng the sarneeffect. problem
leadlo hiqh evesof
arises
whentheser.eagures
y thai
Eventua
have
debtwill
to be repard
Regulatoryreforms
A counlrycanimplement
reforrns
to the aw in ofderio
groMh.Theseincludemeanrres
stimulate
to enhance
competition.
to liberali?e
the
siada newbu5ness,tc.
Seepage146for somediscussion
topics.
lnternational trade
De.iding to export
t\try export? The two mosi important reasotr are likely to be:
1 To increase sales and revenue. Expoiting i{il allow you
In ,lp
u J e F u . p d c d p di' h . n , r e a +
"dunliBeof"nl
production,reducemit cosisilrough economiesof.cale
and increase profits if thin8s go well.
,r To diversify. Relying on jrst yotrr own domeshc market is
risklaSelllngto other countriesallows you to splcad the
Bui befoie decidingto export thereis a lot of !6earch to be
done on the foreign market:
/, Backglound:economi. siiuation,poltical stabiliry
a Markei sizeand likely product demand.
'f Competiiionrsimilar productsalreadyin the market.
,, Disiribution channels:agents(who act on your behau and
receivea commission/but don'i buy goodson their own
account),or distribuiors (who actuallypulchasctoods
from you for resale,likea wholesaler).
,, Promoiionalmaterial:salesand support matcrial needed
in the loc.l lanSuage.
1,,customcrservice:Proceduresforenquiries,comPlaints,
w.rrrarltyclaims,servicing,tc.
,, Lcgal rcquircments:iechnical,safetyand cnvironmental
Other options
Exporiing is one way to selLyour goodsinto a foreign narket,
b r . rt h e r ca r eo t h e ro p l i o n s . rr i l r b l e r o L r r 8 ecr o m f . _ . rr
/j, Ioint venhtre:two companies(a foreign companyancl
a localpartner)work iogetherbrt keep their own lcgal
r ForeignDirect Invesiment(FDl): a businsssetsLrp
operationsin a foreign couniry,or acquires(= buys).
'oca' comPany.
r Licensing:. companysellsthe right to usc a patented
manufacturingprocess,orsomecommercialerperiise,
or a iradmark,in exchangefor. feeor a royalty.One
particularcaseof this is franchising.
Ltte.of credit(UC)
paymentto
one bankguarantees
(Pre-payment) anotherbank.Theirnpo er
Cash-in-advance
Pays
Theimpoderpay$th invoiceln
advance,beforeshipment.
Whe.e
ih6y onlypaya part in advance,it's
calleda 'downpayment'.
whenlhe exporlerpresenlscenain
listeddocumenlsto theirbank.
Typicaldocumenlsneededare:
documenls{eg bill
lransponation
documenis,
of lading),insurance
documenls(eg invoice).
commercial
oderaccouni
Thesuppliefshipslhe goods,and
the importerpayslaler,according
to lhe termsof lhe contraci.Thisis
morersky,and is onlyusediflhe
lmponerhasestablisfred
a qood
credlthislory.
LO
Documentary
collection
A cheapervaiationof an L/C.The
lwo banksmakeno guarantees,
but simplyhandlethe exchangeoi
Consignment
Durc..has
Theimporterreceiveslhe goods
and holdslhemin stock,but only
pays lor them afterihey have been
soldto the end users.
TRADE
3 INTERNATIONAL
Exercises
3.1 Find a word in the text opposite that matches each
definition below. The words appear in order
1 fthreeworc&)spreadng cons ovf d ldrgernumberoi
un ts, and ihereforeproducng th ngs moreche:ply
of you
2 (threewords)instead
of you,or dsa representatve
1
3 wrttenpromise
thata company
w reparsomethnglf
4 b q bu d ngwherelargeamounts
ol qoods
arenored
s spcalrks or knowledge
6 nameor designon d productthatshowsrts m.de by d
partcudr compdny
7 nonypdd ior profess
ona setuce5,or a one'timamount
you'r
8 moneypaidto sornone
whosedeasor invenlrons
U ,n g
Now do the samefor th wordsin'Financing
internationaltrade' opposite(aleocalleda 'b ')
reqlestnq paynrent
9 document
1A fthreewotds) n givn9 dta! of goodsthata shrp.etc|s
carryng,. so actEasa conlractto tr.nsportlhosegoods
3.2 Make phrasesby matching an itm from each
2 relyon
3 spredd
c m.rket
lun yourdomet
behali
on somebodys
capac
1y
of anyunderured
thenik
5 estab sh a presence
7 h a n de i h e e x . h a n q e
8 pay accordnq
lega dentiy
FOBs alrnostthesame,exceptherethesellerpaysfor
oadrnq
ontotheshrp,nottheb!ye.
Thesellerpayslor the seacrossing
RISK
EXW Exworks
tAs: kee A ongsde ship
I Y P E SO F F I N A N C I N G
C F RC o n & F g h t
. eF r e g h t
C F r C o n , l n s ! r a n&
DDP Delivered
DutyPad
S e ep a g 1 4 6J o r s o m e d i s c u s s i o tno p i c s .
The businessworld
TENREASONS
WHYA NEWBUSINESS
CANFAII
Cause:startjnga business Solution:Taketime
with a goodidea.some
to research
the market
tho.ouqhy beforeyoustart
entnusiasmbut no serous tradng
Cause:buyingtoo rnuch
paytng
srocK,
cusromers
l.te or not at a I, suppliers
needng to be paidon t me
Solution:prodlcereaistc
cashflow forecasts
andpay
strct atlentonto budqets
Cause:Sticking
with your
own onginalideasfor too
long
Solution:Activey seekthe
MewS
0l cLrStorneTs,
andac1
on whattheysay
- a
Cause:f. seeconomy
cheapleasein thewrong
neighbourhood
Solution:remember
that
accessib
lityfor cusiomers
s
yo!r seed
Cause:spending
Cause:behaviour
of some
Soiution:tra ninq,
monronnq,comp.nycl]rure
Cause:assuming
thatyou
irve customer
loydlry
solution: watch
.oroet Lorscose)
Cause:compacency
aflr
nitialsuccess,
lackof
Solution:be flexble,
recognLze
oppoftuntres,
tPo
Anoiher possjbility is ilut the fouders may decideio
go ptrblic (= floaillisl on ihe stocketchange).Here,
they sell their onginal privately-held shares at an IPO
(initial public offering). Thii brings in a huge amount of
money, some gojng dilectly to the owne.s as rerrard for
their hard work, the rest going back into the business as
72
Exercises
4.I Finda word in the txt oppositethat matche5each
definitionbelow.Thewords apparin order.
I smaladvantage...............
y by providnq money
2 peoplewho slrpporta pan, especia
prcpertyor moneythatyoupromseto g ve someonef you
(farnal:tuvawards)busness
that s a singleunitiroma
lega'o'd..of ingpo' ol vew
g vingdetailsof products
thatsorneone
docLrments
payment
for thm
hasbought,andrequening
to manage
6 (phrcsalverb)incrf.asnq in a way that is difficr.rlt
7 Income,revenue
8 rrhr"" nord5rd srccess'ulblsirei)
a corpd s I dl hole beenboLghl by o her co'npanip5
for invoices
to be p. d
5 spot
6 takeon
tailing
the riskof the business
or snnnKyearDyyear
7
8
9
10
rl
12
brng n
enter
extend
9o
grow
se
asa gorngconcern
the busrnesr
a hugeamountof money
a growthpnase
y or by acquisitrons
organLca
pefiorn
1 lf yougrowa business
too qucklyandtdkeon too m! c h
tr:lrxP;rro
rlsk,you
you
lf yousellgoods
at a owrpfcethanyourcompettors,
yourcompetitors.
or
li youdo.'t makear muchmoneyasexpected,
yo- rele5s
succ"rs'u1vo-' ob lrdr e pF(rod.ycgoespan anothern termsof sales,profiis,
lf yourconrpany
mdr\l-rdre.etc.rl"pnyoJ
you
or morethanyouplanned,
lf youusetoo muchrnoney,
by m n.k),
li youaska c ent for too litte money(Lisually
you
lnera.
decslon,you
authortyto relectsornebodys
7 lf youuseyoLrr
than
or essimportant
ng issmaler
8 lf youthinkthatsomelh
rt.
t reallys, you
4.4 Readthe text about fran.hising,then answerthe
Company types
ln 1aw,thereare various types ofbusinessentiry.For each
one there are different legal adangements to register the
conpmy, different requirements for presenting accomts, eic.
The main business t'?es are:
Sole trader (UK) / Sole plopdetoGhip (US)
A singlepelson owns and operatesa business-Legally,
the bushesshas no separateexistencefrom its owner
(proprieto!).This meansthat.ll the debtsof thebrsinessare
ihc debts of the owner
Partnership(UK and US)
Two or morcpcoptc s'ork togetherand sharethc risks and
profits. Justlikc a solc proplietor the partners.rc fully liible
f(' (= responsiblcfor) an)' debis the businesshas.This is
.efefed to in law as lurlimited iiability'.
Cofrpany ruS and UK) / corporation (US)
Thcb!snless is a lcgal cniity ihat is separatefrom its or'ners
thc sha.choldcrs.Thc osne$ are not fully liablc for the
debtsof the busincss.lnstcad,then liability (= potcntialrisk)
is rcstrictedb thcjr sharecapital.This is thc amount of cash
ihat they havecontribuicd to ihe compan}l This,s rcfcred k)
nrl.w .s'limitcd liability'.
Theredr lwo manl rypesofcompanies:
' l'rivate company:thc sharcs(ArnE sto.ks) arc'p.n atc
in thc sensethat thcy cannotbe bought by mcmbersoi
thc public. Thc vast trajority ofcompaniesfall into this
catcgory.Thcy'rc oftcn smallercompanies,with sharcs
hcld by a fei{ businessassociates
or family nembe.s.
'i Public.omp.ny: the sha$s are openl!' b.1dedon a public
stockexchangc.Thcsearc thc large,often wcll-known
businesses.
Thc word 'public' should not bc confDscdwith
'siate{wned'. A'sialc-owned cntcrprisc'(SOE)is o$'ned
by the government.
The Board
Public companiesare.ontrollcd by a board ot directors('the
Board'),eleciedby the shareholders.
Noi allBoards are tully
independent,bui in generaliheir rolc is to:
,| Setlong term straiegy.
,r Appoint a ChiefExe.utive Officer (CEO)and other
membersof the seniormanagemeniteam kJ run the
.ompany dair to day.
't Ask questjonsabout any short- or medium-term straiegy
developedby the CEO, and then suppori it oncethey have
tl)
t Overseeand managerisk.
,r' Set an amual dn'idend.
Who choosesthe Board? In theory',jt's the shareholders.
At the Amual GeneralMeeting (AmE Annual Meetingof
Stocholders) the shareholderscan questionBoardmembers,
14
Corporate governance
T h i " w h o l eN \ u cu t l h e r o l <r t l h c B o d r d l,- o w . c n r r
managersare responsibleb shareholders,
and how ihe
companyis run, is refe.redb as'coryorategolemance'.
Traditionally,differentregionsof the world havehad
differentmodelsof corporategovemance.
s:'., :F.$.it
'
Anglo"Amncndodl:epafarionol ow.e6hlp ( e
prioritygiventothe
shareholdet)
andconvol(iemanaqu);
inters$o1sh:reho
der
I
and iransparency.
GOVERNANCE
6 COMPANYTYPESAND CONPORATE
Exercises
5.1 Underlineth (orrrt wods in italics.
1 Moneythata personor compdny
owesis debt/ /abiltty
whenusedin the pluralandin a
Thworddebts/ /rabtlites,
- but it canalsohave
formalcontext.hasthe samemeaninq
a widermeanng oi 'egal responrbiltiei.
2 fhe wotdowner/ prcptietormeans
thatyoulegallyhave
somthing anything.
ThewotdownerI propnetarmeans
thatyouhavea busness(andis morcfo.ma).
3 f youandyourbusnesspartners
all havethsamerisks
at th sametime,thenyoudrrde/sharethe rsks.ll you
partsor ditfercntcategor
es,
separate
the isks intosmaller
thenyoud/v;de
/ sharethem(= spit them).
4 A sharchaldett stakehalder/ 5toctho/drs someonewho
I
in Bit sh EfglishA shareholdet
ownspaftof a br.rsiness,
/ stockhalder
s the same,in Amerca.Engsh.
stakehalder
A shareholder/ stakeholder/ sfockho/deris anyonewho has
an interestn the success
of a plan,lyslemor oaganzaton.
in a company,
theneveryyearyou
5 f yoLr're
a shareholder
tecevean incane/ a profit/a d dend pad out oi the
incane / prcfiE / di\/idends.
company's
5.2 Readthe definitionbelow and tind the word in the
text. (lt appearstwice.)
for anyinstitution,
company,
fforma,'ageneralierm
parinersh
p, governmnt
agency,
or anyotherorqanrzanon
unit.
whchexistsn lawaraseparate
andcompete
5.3 Fill in the miising letters,
y
thenyolJ'rci
1 f you'recompeteyliablefor something,
iabe,
in l.w thenyou'rele lly
2 f youle lablefor something
liable.
thenyoure
3 lf youas.n ndvidua.reabelor something,
per allylable.
|ally
4 lf youmaybe abe for somethng,thenyou'repot
llable.
5 lf youkeepshares
for . longt me,thenyouh
them.
6 f yo! buyandseI shares,
thenyouir
them
non prcfit
aryantzation
namecantellyouabout
TheletteEthatfolow a cornpany
ha5'Lld.fter its name
In the UK,a pivatecompany
(because
of itsowne6)and
oi the '
hasPLC(standing
for Pubc Limited
a publiccompany
Company).
In theU5.'1.(' {L.litedL,ab,'ty
Conpany)
and Co'o'a'e
equivalents
to'Lrd'and 'PLC',altholghthe
app.oximate
?
governing
formationrs
company
diffefentin the two co!ntris.
TheletteB'lnc'(meanng 'rncorporated')are
alsousedn
the lJS,aodtheycovera verybroadrangeof ofganzatons.
Theycanreferto anyI
rhar s seoarate
fromils ownerssuchasa privatecompany,
a public
c o m p a nay ,
.o osPorcl-D
5.6 CovereveMhing on thesetwo pageswith a pie.e of
paper.Write down lhe fullform oI thesabbreviations:
CEO,AGM, PLC,LLC.
see page146for somediscussion
topics.
dlu k
1tu6 oI r dt 6 ot lhfu;rt?"
The businessworld
1:
Management
andbusiness
1r ourorganizalion,
findinganddevetoping
tatentis going
to bea majorissue.
There's
a dectinjng
birthnie,ardtlre
incrcased
mobitityof tabourmeans
that workers
canchoose
wherctheyworkandfor whom.Sotalentis goingio be in
shortsuppLyAndthats paticutarLy
truefor knowtedge
workers
andcreatives.
Wewitl needto find waysto motivat
thernand
retairthminside
ourorsanization.
In the modern
workptace,
manaqinq
diversityir goirg to
increasinqly
beconre
comptex.
Wvegatissresof gender,
ethnjcity
ard dge.Wetry to make
equat
opportLrities
work,
butwehaven't
doneaswettaswe'dtike.Andnowwhave
newprcbtems
oi muttjc!tturat
managemert
across
nalionat
bo.ders.
Imaqine
whenteamnembrs
lhe probtems
from
different
cutturatbackqrounds
hotdvjduatmetings
on the
webwithout
thcharce
to qetto kfoweachotherin person.
Theissue
thaiwelatkaboutmoreard morethesedaysjs CSR
- corporatesocjatresponsibility.
I'm talkingaboutfair trade,
theenvjronmertat
impa.tof business,
theeffecton tocat
.o-1r ri'r'es. rs ainab
e devetoplear.
tdbo..pra-riLe'
, d
stuff tikeihat. Campaiqns
by activistscanaffectyourprofits
anddestroyyourbrand-
In nra'ry
industnes
a majorissueis the threatcausedby the
Internet.Basicatty,
if it canbe digitized,it canbe pilated.
lhe musicdndsoftware
industries
havealreadybeerhit badty
by this,the fitmindustryis nextandpubLishirg
wittfottow.
16
GeneratLy
speakirg,qtoba[zation
hasbeengoodfor bLsi]ress.
But nowthereis a backtash
againstgtobalization
arnongst
the pubLicIhis is creatjngpotitjcatpressures
for protectionisrn
aid for tocatsourcing
to protectjobs.ForLsthai means
reduced
access
to worLdmarkets
andhighercosts.
6 GLOBALISSUESFORTHE21STCENTT,RY
Exercises
5.1 Make phrasesby matchingan item from each
I geopotrca- ------\
2 .limare
3 globa
warming
i.fhren.e
growth
change
5 pak
6 green
8 livng
ore
(threadthe planet
(.ctive)dndotherpressure
2 Green
groLp)d e be(onig inr'edr19y
i , n { r , , o n . o \ , n r r o r 4 r m i nn . r h 4
banlefld
9 pricing
10 decning
1l knowledge
6.2 completethe beginningot ea<hphrasewith its
(environment)
policisof argecompanies.
3 G e n ec
(controve6y),but many
developingnalionr see ii ar the on y way to ensure
(grow)in agricultura
continuing
lpfoouce)
4 Ther governmentS
isoneot rapid
(-"conomy)
strateqy
( n d ! s t r a l i z T) .h i sh a s
supply
2 behungry
5.5 Completethe text about tair tradewith the words in
the box.
3 be in shoft
4 havea commonAsian
5 prceo n
access gendet
7 in the coming
8 ior ihe foreseeable
t hold
averyrcductQn pavefty
prentun
a v nuarmeerng
Fairtradersan organr?ed
5ociamovement
whichpromotes
I
lor labolr,sociapolicy,
environmentali5m
andsu5tainable
development.
Key':
ol faiftradeare:
a Creating
opportuntiesfof economically
d sadvantaged
p.oducers
by payng a farfprlce.lt is a nfrtegyfor
l
reduclng
e Deveop ng produceB'ndependence
by opening
to newmarkets
andbuiding
managemeni
skils
', SaJe
andhealthyworkifgconditons.
.
equality
e Goodenvironmenral
practcsandrsponsib
e methods
Butlair tradehasitscriiics.People
saythattoo muchof the
pricepaidby consumeB
goesto the
retarlelsAndove'thelongtern f" r LrddeoperaLes
asa
hidden7 ..............
..............................
. li putsa prcefloorundera
commodrty
ard theeroreencoJr"ge,3
Thiscaneventually
leadio lowerpicesfor 9rowe6
Seepage146for somedircurriontopics.
The businesswofld
17
Personspecification
PERSONSPECIFICATION
Ski,is ond obilities
The idealcandldarewill be able to demon$nte rhe followlnt
Qualitiesor skills?
Hcre is sonrethhg interestingio thinl<nbout:noticethat in
thc text ibole thoe is referenceto sivlesand quilities, not
to skills.This distjlction is inrportant.Qualitiesare a part of
your.ha.acter and personaliiy- rher were presentatbnth or
formed ea.ly in youf life and you s'ill find it hard nr change
thcsethings. Skills,ho('ever are things lo!.an lean like
how to speakanotherlanglage, or gn'e a good presentation.
Skills.nn be devcloped.nd improle.1 thJoughpracticenn.t
r\p, ri" Y. qu" ir .- n...h le\\ .n | . I r
fur ir" nin!. o. .o[r' dpr. lopTell dd ,. -""-. ho . F.
1E
Persono, quolitiet
gusinessknowledge
The idea candid.rewill;
havea tood undeBrandiit of rhe market
kp up ro date wth developmentsin the lield
ortanizational ability
The ideal candidatewill:
be a Sood adhinisrntor
be a good time-manater
be conscentiousand lhorouSh
be a Sood team-boilder
Relation to subordinetes
The ideal caidida@will:
havean abi ry to notivrte
know when to de egateand when ro refef upwards
keep tood inesof communicaliof
havean open doof policy
havean abilityto conrol and gve feedback n an
7 MANAGEMENTsTYLEsAND OUALITIES
Exercises
7.1 Finda word in the text oppositethat matcheseach
definitionbelow.Thewordsappearin order.
1 expectinq
otherpeopeto obeyrulescompletely
-q . loLo vo-r .rre drd pne'g/
., 'rFed
3 involv
nq theagreemnt
of monpeopenagroup;
democratic
4 q vinqtra ningor ddvicefor a sperifcjobor tan
5 advisng andhelpingsomeone
moregenerally
overa
lonqer
timeperod
poplsothatthey
6 exchange
of informaton betvven
workwe toqether
7 wherepopleandjobsared videdintomanylevelsof
rrnport.nce
8 takingactonbeforet's needed,
ratherthanwaling unti
proDer.soeveop
-\
2 know
3 work
v s i o na n d f a i l t o s h o w e a d e r s h i p
5 keep
6 give
8 vanslate
quicklyafter a setback
genera (rategy into rpecifc objectves
u p t o d a l ew t h d e v e o p m n ti n
s t h ef i e d
fedbackin an appropraiway
honen
iniuitve
merhod
cal
orqanred
nressed
s!pportve
15 transparent
d recl
flexibe
/ ri d
/ me y
organized
At the plaming siage of a project the amount of work required cm look frightening. To make it manageable, you
need to develop d overal time 6ame (rinescale) for rhe prcject md a schedule (tinetable) to show the dates
oi times when individual ihjngs should happen. Hopefuly, throuSh Sood iime mdagement, you will be ahead
ofschedule.Anlyat as long as yo!'re on schedule,there'sno problem.What yo! definitelydon't want is io be
behind schedule.That meffi you be mder a lot of stress,md when you're totally shssedout, your work will
suffea You nlight have to irolk long hours to caich up. And iI you're a mmage!, you probably won't get paid
overtine it's just cxpectedof l.ou.
Of course, it's not always your fault. There can be delays fo! all so s of reasons.ThinSs can take longer than
plannedbecauscof circumstances
beyond your control.ln ihat case... well, deadlinesmight becomeguidellnes.
nrl'at can you do to improve your time muagemeniT Hclc are somehps:
K . o w a n d l s e l h e f n q s y n e mo n y o u r . o m p l r e rp r o p e r l y
A lor ot rh workf ow in b! 5 n.$ Noives e e.tron c pnperworl!
: n d y o u n e e dt o k n o w h o w t o a c c . $ d o c l m e n r sm
, oditthem,
sharerhem and nr.h ve th.m
Deeg;re
D o . l r r y t o b e a p e r f e c t i o n s t n c v . r y t l rn q r t a k e s t i m t o
{ l e rr h . 9 t r b s o l u t e y r g h i , a n d I h c s m o n e y 5 h o r r . u t sc a n
b e a . c e p r a be r a q ! c k . n d d r t y ' s o! t o n m n y b e O K . l i y l o
bnla.ce qua tt cost and time
Bui ofcourse you know all that, and you haYc alrcadv inplemented these suggestions. You use careful
time 'nanagement to plan your workload. You nclcr put off unpleasant tasks or lose concenkation. Becaup
of this, your work is stihulating and rewarding. You do elcrything h'ith calm and focus. At the end ot
e.ch day you go homc with a snse ofachielenent. You say to yourself,'The world is a better plaQ todav
because of what I did in my job.'Right?
Irinance
P , e p a , i nagn dn e q oar r . q b l d q e r 5
^.lonirorin9
rhebLdger
Makng investme.tde.ision5
Inforrnatiou
chi r ng and/orpirticiparig n meetngs
Careerdevelopmeut
aarryingo!t performance
reviews
Rewardlng
aclrevement
20
A O R G A N I Z I N GT I M E A N D W O R K
Exercises
8.1 Fill in the missingletters.
1
, Theprotectis goingvrywe . n facl,we're
of schedule.
Theworki w is orqanrzed
efficenty,
andwe hdved bigwallch
with ni
shown9 th d fferntnagesof the prolectandwhat
veryone
shouldbe do nq I likeour team eader she
hasestablshed
thegeneraqu
nes{orolr work,
but she eavesit up to usto pr
trzeourlaskson
a d.y to daybasis.
Of course,
therearealways
chd
ngesto la , but so far we'vebeen.ble lo
m t thosechalenges.
lts a gre:l expeience.irnd
the workst
at ng andrw
nq lts givenmed
rea 5
e oTarh
ment.
Please
5 Ldn week I
-Ld
The work
d n th s project s iar biggerthan
anyoneexpectedThereSa ot 01 !nexpected
od
s o 4 r f a r ' s / e f I ne . o n
n 9 r o L o n pe r e
T h r n q s : r en o t g o i n gw e . n i a c i ,w e ' r e
d
schedLreWe miqht evenm ssthe de,
E v e r y o nret o t a l ys t
People
ed
are
- c s a n d q u a l r tsys u f f e f i nlgt s l u n s o
takngsh
l r u n r a tn g , a n d t 3 n o t e v e no u r { a u l t i l s e n t r e y d L e
to (rc!
cesb
d our conlro The only
way we re go ng io f nishthis work wirh n the given
t me lr
e by f nd nq somekLndol q|]
and
dr
s o u t o n . l k n o wt s nl i d e a ,b u t w h a e
l se
ll managers
haveconslraints
on ther tme - so many
lasksseernurgenland vrla, and yet no one person
cantackLe
lhemall Deegalionis lheanswer
Once youve apponleclthe personresponsible
lor lhe
pa(icularlask yo! need to brief them rhoroughly.
How
muchautonomy
are you goingto allowlhem?Howollen
shouldlheyreportbackto yolrwth progrss!pdates,and
in whatdetail?Andwhoese needsIo be in thetoop?Alter
ali,its noljuslyou
whoneedsto knowwhatshappening
Convo will be a key issLreWhathappensif ihey hil an
unexpected
snag?YoucanI takeall theresponsbilityaway
fromthem lguring out soltons to problernswi be a
chaLlenge
anda motvaliontorlhem.Howeveryoudo need
y
io makesurethattasksarecompleted
slrccessfLr
Finda word from the text that means:
1 limrs
2 de. with
3 qivenecessary
iniorrnaton
4 (fourwatd) he patlaf a groupof peope thdthdsnformatlon
fin.l
nake up put in
speno waste
5 (infarnal) Nabter-|
6 (phrasai
vert beng abe to lfderstand;solvng
8.5 Readthe following sentenceand decidit it's
grammatically
correct.
Anceyau veappointedthe rcspansibiefar the particulartask,
yau needta brief then thorcuqhly
Comparewith the third sentencein the text above.
seepage146for somedis(ussion
topics.
BusinessPlan: Contents
Elements of a plan
AcompreheDsivcbusinessplan for a largecompanymight
involve ihe f(nlowhg:
1, IDtcrnalanalysis:this colors thc strcngihsand tlcakncsses
of thc organizatioll,historicalp$formance, tr.nds in the
businessactivity and cutrcnt roso!rccs.
', Extcnralanalvsis:this covcrsmarkcts,clstomcrs,
l l . , c " m p ' t i n u n .r d \ . l . d r , l i I o n . l h c g . n c r . r b
l u.in.ss
o Gap aDalysis:this stariswiih the kcy issucsraiscd nr the
first two points above,and highlighis lhoseareaswhere
thereis a gap betwcenwherc you arc now and whre you
a Action plan: what necdsto bc donc to closethe gaps?Do
producisneed to be improved?Docstcchnologyned to
be upgraded?Do stafinccd to be rctrain.d?
', Resolrceassessmeni:
rlhat the action pld needsin terms
ofhumar resources,
matcrialresourccs(eg plani, space
nlsidebuild nrgs,equipment),lT rcsourcesand financial
//r TarSeisrspecificta.getsfor financialrciunN, costs,market
share,sales,grorrih, cusiomersatisfaciion,quality,etc.
u, Financialissuesrcashflow forecasls,projeciedprofiiand
loss (P&L).
Look at ihe Contentspage of thc businessplan on the nght.
It is the knld of plan thai a sma or nedium'sized business
mightproduce io define its shategvSoingfoMard. The plan
might alsobe neededto show to a bark if new tunding is
2lntroduction
2.1 Current
situation
2.2 Need
forchange
3 Internalanalysis
3.1 Interna
strengths
3.2 Interna
weaknesses
4 Market analysis
4.1 External
oppoatunit
es
4.2 External
threats
5 Marketingplan
5.1 Newproduct
ideas
5.2 Prcingissues
5.3 Sales
targets
andmarket
share
targets
5.4 Geographical
d versification
5.5 lmprovements
to distrblt of channel
q 6
A.lwarti<i^^ .imnr
6 Operationalplan
6.1 N-"wplantandequpment
process
6.2 Effciency
of production
6.3 ProduCrivity
lssues
6 4
.^d<
proposals
6.5 Outsourcing
6.6 Quality
issues
7 Financials
7.1 Cashflowforecast
7.2 Profitandlossforecast
8 Resource
requirements
8.1 Humanresources
8.2 Capital
investment
8.3 tT
9 Appendices
22
nn<
9 PLANNINGAND SETTINGOB.|ECTIVES
Exercises
9.1 Finda word in the text oppositethat matcheseach
definitionbelow Thewords aooearin order.
oi a
1 a thoseDeoD
e who havean interestn the success
pan, systern
or organizatio
2 (tuvawords)a cautseoI actionth.t youwill takeif
in thefuture
..
somthing
badhappens
3 b e l f st h d t a r eu s e da st h e b a s s{ o r 3 n d e a .b u t w h i c h
may not be correct .
4 qrad!al changesor deveopments,tendences
5 (farmal)laws
6 makespeoplenotcesomething
andthinkaboutit
taket
7 a factoryor burdingwherean industriaprocess
pl.,e.. d dl rts'e.w n..h *.y
8 lh: g\ lrdl yourryto acqeve
contexito
9 (n^7o
words)phrase
oitenusedn a business
mean'n thetuture'
Now do the samefor the 'conten$' pageopposite.
10 predrction
9.2 one verb from eachgroup doer not 90 with the
noun at the nd. crossit out.
checkany unknownwords in a dictionary
1 cut, esttnate,tmplenent,rccovet aosls
get holdof wthhold lnfo.maton
2 access,
achieve,
3 cansi.let,keepopen,meet,5u99e5t opt ons
4 be basedan, <atryaut, da, make researd
5 identify,mininize, quantift,rcach tiskt
generate,5et
6 boast,farecast,
up sales
9.3 Matcha group of verbs1-3 and a group of
adie<tivesa{ to the nounsbelow.
Checkany unknownwords in a dictionary
1 achieve,
exceed,
fa lshortof, meet,reach
iackle
dealwth,d scus!,
explore,locus
on,raise,
2 carify,
3 conreup wth, go aheadwih, mpement,keepto, plt
a ambitlous,
contngency,
deiaied,fve-point,long'term,
realstic,
nrategc, threeyear
b ambitous,
annua,high,nital.reaistc,sales
vital
c basic,cntral,complex,
irucal,main,side,!nresolved,
iil l- tarset l-1L-rpl.n
|!l
plan
4 Wew ll hdvto stopour pl.nsfor thefuture(dthoughwe
mlghtcontnuewith them ate,
Wewill hdveto
p|ans
5 Thissuethattheyw.ntedueto consder s very
Therssue
thatthey
s very
issue
"Drnr,I
Motivation
A survey by Kabsn
Consultlngaakedpeople
In a wlde |angeol Industry
sectoG whet medelhem
teel good al work. Here are
the resulis:
Exercises
I0.1 Finda word in the first two sectionsol the text
oppositethat matcheseachdetinition below.Thewords
appearin order
/wa aonls\[ ar t'e begrn-rng
7 rhrcewards(he^holertJaton._olt-srorF padoI i
3 theway n wh ch someones nvolved
in an aclivity;positon
undeGtanding
howotherpeopfeel
5 knowedgethat |5b.sedon feelings
ratherthanfa.ts
6 o vrnasomeone
morccontrclovrthirlifeandwork
8 results
'10.2 Thetext mentions'praise,appreciationand
rcognition'asbeinga part of motivation.which one of
theseis the strongestmotivator?
10.3 Learnrsof Englishoften usethe word
'sympathetic'whentalking about someonesuchas
a good lader Put a tick (/) by the detinitionwhich
matcheshow a native.tpeakrusesthis word.
1 friendy, n ce
probemsandhelpthem
2 wi n9 to understand
someone3
1O.4 Makephrasesfrom the'Motivation'sedion ol the
text by matchingan item lrom eachcolumn.
(morivalor)
I posiiv=\
achievement
'eeobaclf'on yourbo., 'n ol vdlorr
\
2 neqatve
3 senreol
recogn
tion(demotiv.tor)
(demotivator)
4 lackof
experiencs
wth colleaques
5 company
orientdbu, nssword
6 physca
7 task'
8 f nancia
10.5 Completeeachsentencewith the corect form of
the word in italics.Somtimesyou will needto usea
negativetorm (de-,ur-).
a tb the. .. . ....................
company
ln ihef eld
b t3 the market
c SheshowedexceLlent
ability
a Sense
of achevements probably
the numberone
t offeredno few challengs.
I was
c h a n g en a fan-moving
world snl
b Thissituationis out ol control It5 compietely
sansly
a A lob welldoneg vesmea qreatfeelingof
b Myworkng condtionsareteribe. Theyrelun totaly
a Shesgoodat separatjng
d compexprobleminlo its parts
shesvery
b On llrewrole. "greewill yoL
10.5 Readthe text about influencing,then answerthe
people.lts a hiddelsk.ll
I eadersdregoooarrr' renc,r9
L - vF y mpofl"rl orl ole1 rgro'ed lrlJercTg my
rakelhe iorm ol persuadingpeoplto adopl theirideas
inspirng peope to achievece ain goals, or crcating
Inlluencing
requires
a mixol interpersonal,
communicalion
presenlalion
sk ls Andmoslimportanlly
andassrtveness
you need to be abe to adaptand modilyyour personal
stylewhenyou see the eiict its havingon others You
can'tlorceyour deason otherpeope - theyhaveio teel
andappreciated.
acknowledged
undefslood
There's
Theydont
a kindol buzzarcunda good nfluencer.
moan,blameand complan. Theysee whal needsdoing
and
andthensladtalkingto othersto lry 1ogel agreement
aclionFinda word trom the text that meansi
I reach,succeed
in gettLng
2 abrly ro e<pessyo-rrdeas'rr.rlly
a1dconfderly
Liability insurance
Liability insurancecovcrsdamagecausedio otherpeople.
An employeetuight suffer a work rclatcd accidenr,o! a
visiior might slip on a polishedfloor and brcak m arm.
In either case,they can sue yo! and {'ill trv to p!o!e
negligcnce(= failure to take eno!8h care).Thclc is also
product liabiliiy insuranc(in casesomeonesucsyou aficr
usn18a product),and professionalindenlnity insuanc.
(AmE malpracticeinsu.ance)in casea clientsuesvou for
making a costly mistakcwhile advisint rhem.
Property insuran<e
Propertyinsurancecovcrsdamageto rhe insureds o{,n
proPerty.Dam.ge miBht bc cnusedb), fire, landansm, crc.
The cohpany might also nccd automobileinsurancc.
Somepolicisinclude ihe serviccsofa lawyer (AmE
attorney)in drc cvnt ihat youlc sued,while othersdon't.
And it's impo.tant to remcmbcf that your p(neciion is
limited to thc maximum on thc Folicy.lfa court awar.ls
damagesthat cxcccdthis fiSurc,then ]'ou're liable for the
Strategic risks
Policies
wlen you takeouta insurancepolicy (ie contract),you
make a regllar paymenicalled a'premiuh'to an insurer.
The policy stateshow much will be paid and under which
ctcumstances.Readit carefullt checkthe small print, and
h particular checkany exclusionclarses.After a year,before
the conhacicxpires,you willbe scnt a renewalnorice.
tnsuranceis availablethrough scveralchannels:agenrs(who
work direcilv for one insurancecompany),independent
brokers(who scarchfor the bestpolicv amongstm.nv
alternati!es)and dile.t selling (oftcn over the Internet).
Atcnts and brokcrswork on conimission.
claims
If vou need to make a claim, yor fill out a form and waii for
it to bc pro.essed.If thc insurance.ompany suspectsthat
you're underinsured,o! cl.iming too much money,they can
i p p o i n t J 1 o . .i d i u { t c r / A m l . l i , m , . . L l J U s t lpnr p, \ I n i n p
thc situaiion.Ercniually, they pa), out and yot receiveyour
If an insurer feelsihat thcy have takonon too much risk, thcn
they can to io a reins!rancccompany b providc covcf fof
Operational risks
Financialrisks
Failure of compliance
(with new laws)
26
I1 INSURANCEAND RISKMANA6EMENT
Exercises
11.1 Finda word in the text oppositthat matcheseach
detinitionbelow.Thewords apparin order.
1 snsib
andcare{ul
2 "gdl 'e"oo's,b 7 fo 'on "t ,ng
3 st.rt a legalprocess
to get moneyfrornsomeone
4 torrnalprotcton dgann lossor damage
6 (twowordslmakesa decislon
to g ve someone
cornpensaton
7 (twa words)se.lansat a contractthatsaywhat snt
covered
by the contract
8 fiwo words)writtenrernindr
that a contractis qoi.g to
endsoonandyournustpayif youwantit to co.linue
9 (phtasal
veb) gre noneydsthe resut oi an i.surance
clam
10 moneythatsomeone
recevesbecause
oi damagethey
Now do the samefor words in '8ut you cant insure
a9ainst'opposite.
11 (rwowordr)moneythatw ll nevefbe colectedirom
t2
thesmallprint
8 check
S e ep a g e 1 4 7f o r s o m ed i s c u s s i o tno p i c s .
Manufacturingand engineering
Manufacturing
Manufacturingis the transformatjonof raN materialsinto
fnlishcd products.It happ.ns h fachnies,plants (= large
.!ri\J 'ndnil./u.-d'or'f..i. .. ,-1p..e..- .'nJ
The aud 'manufacturing'is oftcn associitedrLith indrsiries
iike aukrs,ch.mi.als, non and sl..l. Thesen ustries,base.t
on nnss produ.tion, \rere.nrccnajor emplolers n areaslike
Anrcrica's'RustBelt' (lllnrois,ltu1i.rr., \Ii.higin, Ohid and
England's'WestMi.llands' rcgiors.sso.irte.i lrith renliil!
. vrilalrlc .oal, labou an.l nrland \1.{en!.rvs (=..nalt.ln the
perlod.ficf lhc ScondWb,ld \\hf thcscn rstriLs prori.l.d
jobs ror lirtc numbersofbluc.oll.r ('orkers, sorknrg in
jobs nnd trct.ctcd trt lnions. During
sennc, u,cll"pa1(1
t h l 9 7 0 s f f d 6 { h t h e s en l d r s i i r s t r c c a r nucn p r o i i . b l . i n
A'tr.ic. fnd Europe.P(lluciior nrcthodsNerL.in.r.singlv
ouklatcd, and this tr_peof hciv! n ustr! srLit.hedto othcr
.ountrics, pa icul.r y l.if.rn.
l f l . ' p a ni f c $ a p p R D . ht { ,n r . n u f n . t u r i n E . n t r g . d I t h a d
rn.ry l.,bcls,brl T(rlotn l)r({lncnon Svn.nr rL.s thc nron
c o n r n o n .K c v c l c n r . f t so f t h i s . t f r c . c h $ c r c c l i m n r . t i o no f
!!.st(, (.jrci.g in\lnory k\ fls, .rnd incrcasnrtcfli.i.nL!
l h k { g h t h c s i n r p l i f i c i i i ( ni nr d s t . ) n d i , d i z i i n nor f p r ) . . s s c s
inLl p(,.odu(s. \4nny of thc c.r' .on.epts nill m use
E n gi n e e r i n g
If. conlprni m.rkcsnrass-p()ducedprcducc, il s g.n.fally
refered (r as a'man(f..t!ring (ompany'. lf ir's rcsponsiblc
kr.oniflc\ projecis$ ith a high dctrcc ofcunomization, ii's
\ , n , , . 1 1 ,r , 1 1 1 rI r . i . . - . ' ,1, r r . n , , , ' n Fi . I n t L . ) .
f r , , , I n i . A . i] n r l * , . n . , 1 .r ,. . , . \ . \ . \ . 1 , . , .. , ' ! .
b u l l d l n g . r n dt c s t i n gt h i n g s E
. n i t i n c c rasr c i a s . i n i t . d l r y h o s ,
ind h'h! thnrgs{!.k.
r \ s i n \ t i f l f d b . . i k d o w n o f t h en r r f ! b n . h $ o f . n 6 i n f . r i r A
n-kneindlstriaprccesesmoreeft. e.t
pbdlcts e6lefto manufacrlre
andmore
qla ity in(easlngproductvily
28
i o d a ! a r e l a p i n e s e s o . d s s u . h a s ' k a i z e n( c' o n t i n u o u s
impro\ement) and 'kanban' (.heckinginventotr levelswith
sinplc \ js!al signals).
plast.spants pharmi.eltcr s
agncutural
chehcals.loodproce$ne
landmanagemeni
water.rndsewige
sydemspo !t o., wnne dsPosa
12 MANUFACTURING
AND ENGINEERING
Exercises
'12.1 Finda word in the txt oppositethat matcheseach
definitionbelow Thewords appearin ordr.
1 (tuvowardl na].uasubnances,
belorebeingmadeinto
somernrn9..
2 rcdsubstance
thdtformson metawhen t getsold or wet
3 wolkng cass. .....
4 organizdtions
that represnt
theworkrsin a padicular
industry
5 r o rr o d e ' F r o J g r o b P L . e f . l
paceistock
6 a the tmsn onepartic!ar
establsh
exdminsuptuse
-qo
carryout
oue,
puttogether
getrd of
of
bein charqe
manag-o
weqn !p
worKng oroer
8 nformation
that hasbensparated
intod fferentgroups
2 wel pad
3 heavy
5
6
7
8
contin!o!s
wide
residental
consistent
job (proiecied
by unont
(egsteel)
industry
(of a philosophy)
concepts
produclon(methodsn indultry)
quaity (of industalproductt
(='kaizen')
mprovemenl
scope(of a subjector actvity)
(inc vilenqineering)
buldings
Whenthe outsourdng
waveh i the .uto partsndustryin
rhe 1990s,Bh..aB".w pla_r\^as6
andrcadyto compete.
in
Morcrccently,
it hasbequna straiegy
of acquisitions
production
nd
a,
EurcpeandChina.t\,{ost
of its
s stil ln
7
its
but
with
................
. .. . .
andlow abourcosts,
reduces
the additionofsmallplants
nearerto the custorner
3
supply
chain -..
-,.....
see page147for somediscussion
topics.
Productionand operations 29
@,*o"afactory
Study ihe diagrm of m automobile plmt nd the notes that explain what is happening in the ditrerent
deas- It is based loosely on the Volvo Trucls plmt in Gothenbug Sweden, md some of rhe voabdary
below is speciJicto the automobile industry. (Check in a dictionary if necessary) The assembly line staits
on rhe left fld moves io the right, md veious assembly statlons along the line are shoM by small sqrares
a. this ir wheE the Gbs (= the front pan of the
ttuck whee the drirer 5tu) are delivrd,
they arive on a daily(hedulejon likeallthe
other comro.e.b Hee itemseuchaelhe @b
arelNered down usinqderhe.d.ran6. and
the ntte6 hake surerhar they dock
(= join tosdher) coredry. rhe/re securedin
olacewith bolls 6nd nute.smallercon@nents
.r .tta.hd with s.res. ThefitteR h.w .
rangeor 5panne6(AmEwenchet to help
l.crori.'.a 3oppl.n.nr.d
with vadou <omponen$.
30
(eqplpes,valvet
7. othe. components
wning,t nkr tyret are.tchd at
difie.nr ttations down the llne by teams
of skill.d tittes. At the end ol ewry
stationthere6.n intomationbo.rd
rellingthe fineu howrhy'rcdoinq
tidewi4, and h@many unibstili
rmainto be built duringthe.udent
13 INSIDEA FACTORY
Exercises
13.1 Finda word in the text oppositethat matcheseach
definitionbelow.The wordsappearin order
process
1 largefactorywherean industrial
happens
2 peoplewho put togethrof fepairmachine!or equipment
10
6 a buidingusedfor a partcuiarpurpose
7 madespeciay for someone's
partcularneed
8 the amoLrnt
of workihat s donein a pa icularperiodof
tme
9 /phrasal.e/b aovrng sr-.adilyorr
1 0 not beingused(machines
or factoriet
(threewords)damagewh ch happens
whensomething
is
lsed a ot
12 the periodof timewhena machine
isnt working
13.2 Studythe languagebox below' lt showslanguage
tor describingobjectrin a fa<tory Checkany unknown
words in a dictionary
s 82 kq,'or
ed up to the nearenkiograrn.
y
3 breakopensudden
4 becomenot firmlyfxed
5 no longerworkbcause
somethnq i5noppingthe parts
6 suddenly
stopworking
see page147for tome discussion
topics.
Productionand opefations 3l
Global sourcing
T h e h o r d ' p r o . u r e m e n ' n e a n . f i n d , n 6d - d p - r c h r . . 1 B
suppliesor equipment,espe.ialtythings th6tare difficulfto
get'. The woid 'purchasing iside that definition is a formal
woid foi'buying'. The job iitle 'purchasingmanager'is
still used,altholgh thesedays this personmight be calleda
'supply chain man.ger'and
have broaderresponsibiliticsfo!
soucing, logistics, etc.
Procurement
Procurcmcntis a crucial function in business- it's p.obably
the a.eawlt. costsavingscan be made most easily.
i Fnldhg suppliers:you may make direct contaci{ith
potentialsupplicrs,o! you may lse public adlertising in
the fom of a Rcquestfor lnfomation (RFl),a Reqlest for
Qroiation (RIrQ),or a Reqrestfor ProposalGr-P).
I Baclground rcscarch:oncea number ofpossible slppliers
have beenfound, you need tu discoler more information
abort thcir product quality and also thcir track recard
fd insiallation,mainten.nceand warranties.You may
examnlcproduct samplesand perhapscarrv out some
Negotiation:you ncgotiateprice,availability,
customizatim possibilitics,delivery schedules,etc.
A contr.ct is dr.wn up.
!ulfilmcni: ihc supplier prepares,shipsand dclivrrs ihe
prcduci. Any nlstallaiionand training is carned out.
We often think of procuremninr a manufaciuringconiext,
invohing all ih. items that go to make up the finished
p.oduci (ie raw materjals,componnisand parts).But ii
happensi'r every business,and includesihe purchaseot
n wide l'ariety of goodsand serlices- f.on low value
items like officesupplicsto compler and costlyiietus like
Proclrement is the areaof businessmost open b co.ruption:
.ilher a backhanderfrom a supplier to a manage.as a thank
you for being chosen,or.ollusion betweenthe two to falsify
pri.es, qualjty levels,et.. The EU has a very st icisystem of
.ompetitive tendering(= biddjng) io avoid theseproblems,
aDd many companiesalso operatea three L'ay checkof
papemork. This involvesall invoicesand deh'eries being
verified by a purchasingmanageathe accomts payable
depa ment md the plant manager
32
Globalsourcing
Benefits
Bigreduction
in labour
costs
Superior
seMcelevets
(eg24-hour
support)
Drawba(ks
CompLexity
of
communications
between
peopleof different
cutturesdispersed
around
the wortd
Abilityto undertake
smaLter
(prevjousLy
pjeces
unprofitabte)
of
fxtra transportitioncosts
(ojl pricesaffectshipping
Improvedaccess
to skitts
:osis)
Extracosts(eg travet
and livingexpenses)
for
offshoreworkersvisiting
Synergy
fromworking
with a partner
(eg a transformation
of
Issuesof securiwof data
processes
business
arjsing
andprivacywhenother
fromnewideasandnew
get jnvotved
companies
waysof wo*ing)
,I4 PROCUREMENT
AND PURCHASING
Exercises
'14.1 Find a word in the text opposite that matches ea<h
dfinition below. The words appear in odr.
1 a wr ften naimnt of xactlyhow much money
somelhingw con
2 tuvoward) ar oraanization3
successes
andfailures
over
time
3 extendedperods of iesting
4 suppyingthe thingsthai havbeenordrd
8 documents
for goodsor workdone
9 ihe nternaloperalion!of an ofganizatlonlhai
are not accessibor vsib e to the genralpub ic
1 lf youtellsomeone
how mucha Jobwil!con, andyorl
rnityoursefto thatamount,thenyougivethema / an
f yoLJ
telisomeone
how mucha job wil cost,but you
reserve
the rightto changelhe arnount(egif circumstances
thenyou
changeor the worktakeslongerthanexpected),
givethema /an
prolect,
lf youproduce
a forma p an for a morecomplex
te ingthe clstomerhowyouwill carryit out andhow much
it w lcost,thenyoumakea /an
lf youdo thesameas n #3, but in response
to a
pLrbllcnvtatjonto bidfor thejob,andin compeiiton
wth othersinrar companles,
thenyouput ln a / an
14.3 Complete the simplified explanation below with
these words: sourci'fg, procurcment, pwchasing.
give(somebody),
askior,get,prpar,
provide(somebody
with).submit,accept
drawup,male,accept,consder,
-R r^
-pul forward,oudrne,retect,
subrnt
c to
nvrte,bidfor,put sornething
olt to,
announce,
suom[,pu! In,awarc,wn
D a /.n
key,externa,arge.foregn, eading,
pr ncpa,
major.outside,
over9eas,
offshore
protracted,
unguccessfLil.
E a / an lengthy,
lruites9,prolonqed,
ve
unprodLrct
(a)tender
suppler
negotaton
E>
\ r h c ng o o ( l \ . r l u r D c { l ! ) r h .
mrnull.Lu.r ( ithd lreuu*, (n
.Ntonlel l cluD{. o. ofe|\kl'li.rl
inlrnkr\ rr ih..craileB. or ourl^rcd
mo.lur(lin:
rhar .rtr ,r) 1(rrg.r \.lll.
{u
rt'l'l\
.ll]tll
i, lt iD\olves ,doidiit{
irenr\ fiun onc Dexns ol taDspoi
andlo!.ln,gonioarod,er'lhn.aD
bed.disLribuLion
..r!e of a \{f.ho!\e.
Tl,e.c rf. rlrrc. posibir'!es:
Hub and spoke
corsolidation
tr'lat-pr.tt aG
b r c l q n t] n t a . . e
.e.talla.atian
antl then 'ofted 1.t
.leli@tyta. raiet|)
at detnnatbns
A nxetf oi {.aLl.l
t . r p m e . l Ja / .
..nbinetli.taane
l.tgpt shtDnent
l.t e.onant af
t1.'span
:i@."@
l+
Deconsolidatjon
Logistics
Ihc $od loijisii.s'rci.s to t]l pr.ct c.l iss!.s surorndifB
t r n n s p o r t i t i ( D ,$ r r c h o u s i f g i n ( l i n r ( n n ) N n i . r n i B c n r . fi .
\ \ ' l r c r ci h . r . l s r n e \ l . r u l l o . ! s i t ' \ n r , ( o r l ( s s n
s \ n o n l D f ( n S C f v l ,b u l i l . . r n ! L n r h . r r r . f r n l | m . r Li i ) . u s ,
it.lling Dr.iieri.rlslr..r sit. r\ lo sitr ll ifsld. .r .omp.ny .rt
Lliiiircnl sriges ol thf Lrusircss fn).ess lhf trrn loljisti.s'
r\ .rl{i r$fd nr in.rlkr.onprri.s
whcre '!!fply .h.rin
Nrnrg.nrrt
seefrs nn) Srrn(l
I r i , n ( n r r \ r r d k f i a l s h r n ( l l i r ! g i I i i r k r h c t ] . r 0 r r : g ( n x l sa f c
p l . r . , l { r ' t ) r l l c r sa n { l n ! ^ . , 1 , ! r r , n r l , n , L n l l i l i o l , . l s .
l i , t r o l \ . \ i , t r c r ! ) , \ r i l r a g . u u , r i r o . , r ' s r n g c u s i , , sI T .
T I i r n r h r l ( 1 r h c r b i l i s r , d . r k i r ( . t r ) i\ n r f u n s i r .
lri.'\JI,,,-,r,i'.,Ir,|
I r . i r i . . . rt i . r , - , ,
"|''|,,,
$ pur.hr\ing,trd phlr Iul.rg.n!!rr.
{rl'
Exercises
'15.1
'Logistic!'
isa tem that is usedin manydiffercntways.
Usinqa broaddefinition
it canincludeal of thefollowing:
the rightproductisat th ight pace
at the ght time.
Demand'
and planning
Determining
the quanttyof goodsthat needto be ordercd
Inventorymanagementand materials3
by
Keepng thesupplychan ilowinq,with no boltenecks,
'e'ent
quarrty
r(e'1s
rhe
o'
aro
"
locatonsanddifirentstagesn the process.
Communication
te(hnology
the orqanrzatron
to rlssuppliers
with lT,lor example
to provde lnlormatonabouidemand
patterns
lo facilrtate
Just-n-Timede very.
Transportation
6
the ben meansol iransportation
(ieair,rail,ship,truck).
Pufthasing
Locating
anddesigning
faciltiesthat alow efficientstorage
anddistribution
Allthe aboveactivities
mustbecoordnatedpropery.
- essof onethingand
hevitablythere
will betrade-offs
moreof something
els in ordrto achieve
the best
-ffi
::=-;-4-
liiir
2
3
4
5
6
s!pp v ----\
f nished \
f na
logistics
d nr bulion
forwardng
forecasting handling
seleding watehoustng
##il
aqent
qoo0s
:*L
'
,vl,
1b,rJ,t bt $e bB naw,
"
.*" production
Just-ln-Time(JlT)
Kaizen
53. Shrre
Oncethe workareahas
beensonedandsetin
order,cleanit up sothat
shineslClean
everything
the areaitsell,aswellas
equipment
andtools.
S1: Sort
Review
everything
separarng
wnai rs
needed
lromwhai is
not.Remove
anythnq
Pdnciple:a placefor
everything,
andeveMhingin
|t5p|ace
Keyideas:discipline,
simplicity,
pride,standardization
and
repeatability
36
54: Standardize
Createclear,s mpleand
v sualstandards
for 51-53
Example1: shadows
on work
surf.cesandinsidesiorageboxes
showwhichtoolsshouldbe where.
Example2: a re-order
card(calleda
'kanban s attached
to an iem and
)
pa(edsomewhere
afterihe item
is used.Thisgivesa vsua
signalwhena newltern
is needed.
55.sustarn
and mprove51-54.
16 IEAN PRODUCTION
Exercises
'!6.1 Find a word in thetext
opposite that matches each
:6.:
r
4
b"r1g
r d . i , r Lo ^ " r o ^ l p . h , q . - : d "
m a k r n qs o m t hn g a q a n
5lrynqtoavod(orprotectaqann)futuremstakes
6 t a k e nt o a p l a c e( e qh o u s eo, f f c e ,f a c t o r ya) n d g v e nt o
7 (rwo worctl time that mln be a owed for .omp et on of
ar operalon or process
8 a lhe workersthat are neededto do a p.rticularlind oi
p l u r a l ) ,v e r b o r a d j e c t i v e .
( ndlstry)
I T P Sh a sh a da b q m p a c lo n
processes
rn mafy secroEor rne
( e c o n o m , :G
) e n e r a l yi t, h a sm a d em a n l f a c t unr g r n u c h
2 l i i s r n p o r t . n o m a l e . d e t ae d
( . n ay z e )o f w h c h i e m s a n d f e a t L r r easd dv a ! e , a n dw h c h
d o n i T h e r e3 n o p o n t m a kn q
( m p r o v e )f t h e . l n o m e r ! n t \ , ! i n g t o p a yf o r t h e m
I n . bad y rln fartory.m.ny procies are
(\,v.ste)afd eves of invenlory.r
(de ver)to the fdctoryqate or
(assembe) l ne rsrnddeon y wlren
4 w th lll
9 I n c r e ansg g r a d u ay
Now do the same for the wo rds in The five Ss opposite.
1 0 h d v ed b r i g h t a
, t t r a c t Naep p e a r . n c eprr o c l u c(eo r r e l c l )
rgnr
I 1 t h n g st h d t y o u h o d n y o u rh a n da n d u s e1 ( )d o .
5 makesure
(us,nqI T)
nventory
( l s i n qI T )
thefow ol mare.alq
8 clean|]p
9 errorproot
t,l
+
t
t l , l t a
r t t t
t t
t h e e q up m e n ts o i h a t l s h n e s
a synem (by rlgorols analyst
a kanb'n cdrdto an (em
[o
l- -t
t
t
(TOC)
The'Thory
of connraints
s anoiher
approach
to
marntai.ng fow in prodLr(tonA constra
nf 5 a
Lna syslem something
that n ts
f ( l e ' o 1 o 9 , "T. O C d . a " , r r , " a r o "o o r ' b e o l a ' r r
ayo!1s,where th productron nes nsde the plantare
a r r a n g e dn t h e l
t h ea l p h a b e(t, A , V a n d T )
A n - p a n l s t h e s m p e s t H e r e t. h ew o r k i s d o n e n d
m.tralr(nsrde
a plano
1 0 h a n de
Ao
t
t
t
lineTheconstra
nt s smpyiire
s o w e E ot p e r a t i o n
Next s an A-ptant Many i
convergefor a f na assemby. Here,the probem s
'
, w i t h c o n v e r q L nnqe s a r v n q
[t
I
o
Go
W i h a V p l . n t ,o n e r d w m a t r a s m a d ei n t o m a n yt n a
p r o d L r d sH.e r et h p f o b l e mos c c u ri m m e da t e y . f t e r t h e
divergen(epoint any operaton along one
ol rhe V can rob (= srea) mdreral
"
me.nt for lhe olher bfan.h.
Finay, we havea Tpant A nLrmberof baslcunitsar
producedon . ne and then 7
at the
end. Ihere s a wide varityof fin. producis Th s type of
plantcomb nesthe problemsof rnorr of the othe6!
@ o"",,o
What is quality?
Quality managemnt
Total quality management(TQM)is a philosophythat
was very popul.r in the 1980sand 90s.It aims to put an
awarercssofqualiiy ai the heartof all organizational
processcs(cg cusiome.service)and notjust production.
It puts an cmphasison a coniinual increasein customer
salisfactioncombindwith lowering costsby eliminatinS
wastc.1tis similar in rnany ways to ihe 'deasdiscussed
in uniis 15-16:SCM,ToyotaPrcductionSystem,Lean
Manuficiuring, kaizen,etc.
EuropeanFoundationfor Quality
Management
This organizalionhas taken the ide.s of quality management
and is kying to apply them to allorSanizations,including
thosein the servicesectorand public sectoi It has a
franework for assessingand improving organizationsthat
is basedon eisht conceptsofexcellence:resultsorientation,
custoner focus,leadershipand consiancyofpurpose
(ie benrgfaithful to aims and obje.tives),managementby
processes
and facts,peopledevelopmentand involvcment,
continuousimprovemeni and innovation,partnership
de\ e-upmFnt.dd corpor.rrecocidlFsponsibiliry.
A variety of approaches
As can be seen,qualiry is a topic that occursunder ihe
umbreUa of many differcnt philosophies. This is good
news for the alrny of coNultmts called in to explain and
implement ihe latest mmagement fad. But certain things are
common to all ihe apprcaches:measuringand systernatizing
processes;reducing lariatior! defects and cycle iimes; and
employee involvement md teamwork.
The differences beiween the approaches (and others noi
mentioned aboee, like Six Sigma) are related to which tools,
chsklists, measuremenis md training they lrse.
38
Engineers
haveio spendt me wth marketers
dwng the development
of new productsto
facilitate
desgn-lor-manlfacturc
Therehave
to be supplie.capabity surveys
to makesure
that suppliers
canachieve
the qualtylevesthat
theycarm.The.e
haveto be regLr
ar meetngs,
ed--"L,ord.o ra,l,ig rbo .r qLdhr/r p o.e. e' r
Theremaybe scrap,
rewo.k re,nspecton
re-tenng,etc. i lhesecontinueat a h gh evel,
thenpelnaprtherewill be a fundamental
review
ot suppiersandmaterias.
'w
I7 QUAIITY
Exercises
'17.1 Finda word in the text oDoositethat matcheseach
2
3
4
5
spot
zerc
right
results
for testing
4 t.frng occasion.smaI qudntrnes
(haowords)examinng a process
y,without
sudden
warnng
andhaveno use
mdteralrthat areleft aftera process
7 setof ideasor ruleson whichdecsionsarebased
sales
especialLy
on achevempnts,
8 (twa wofds)an enphasis
andprcfts
for a shofinme
that s popularor fashionabe
9 something
ony
10 ftwo words)how longvariolsactvitestake10complete
(e9oneprooucr|ofrun)
Now do the samelor the words in 'Qualitycosis'
opposite.
11 lookingat how easyit is to makea newproduct,notitrst
the leatures
12 fthrcewords)asklngqlestonsto iind out if
yoursuppliers
areableto meetqua ty slandards
I 3 m.ieralsor smaI partsthatareno iongeruselul
because
for example
14 ftwo words)the returnof products,
thy'refa! ty or dangerous
17.2 Fillin the missingletteru.Most of the antwersarc
not in the text.
ng quality.
1 lf qlalty is r. y good,thenitt outst
thenits
2 lf qua ty is usuay good,bul not always,
e qlality.
vari
thenIs
f qualiy sn'tasgoodasothersimilarproducts,
nf
r qlality.
lf qualityis bad,theninneadof saying'bad'we oitensay
p r qlarry
hasquallty,
thenyou
lf youmakecertainthatsomethinq
lf yo! mprove
the qualityof a product,thenyou
enh ceihequaity.
lf yousratihe quairythatyouwani in an exactand
detaiedway,thenyouspe fy the qualry.
to
lf youregularywatchor checkthe qualiq/ol something
f nd out whatis happenng.thenyoumon or the quality.
lilst t me
samplinq
tir.e
8 cycle
9 warranty
10 product
17.4 completeea(h definition belowwith a pair of
words(and phrass)in the box. Eachterm in bold is
commonlyusedwhen dis(ussingquality.
puru^"t", r u",y rro^ tn" no^
)
conplian.eleltitied
nethadology / elininating defects peienhage rbe5ta1a653
d:tklspails the appeatance wan.ntr.lains I inprove quality
neasues / thtoughout buslness predkt / fewer nistakes
your
Senchmarkings measuring
be5lm./ars
againstothercornpanie5
thatare
to
andthenusingthe nformation
Tolerance
isthe amountby wh ch
(egsize)can
beforethe piecebecomes
standards
of quaity
3 ISO9000 s a setof lnternational
with
canbe audted lor
Companres
oneoJthe nandards,
andthenpubiclystatethatthey're
'rso9000,
qua iy
six sigmaisthe namof a well-known
. t takesa highlydiscplinedapproach
Theierm'sx
n manufactLring.
to
slgma'originaly comesfrornnaiistica.
Key performanceindicators(KPb)arestatsiical
s
of howwellan orqanization
Theterrnis partruarlycornmon
dolngin partculararas.
In p oduclro'] oppd ions,b,t i9u{Fd
"nd
Leadingindicatorsdr" l\ose that
Forexample,
evesof staffsatsfaction
a futureoutcome.
A morernotvated
areoftena leadingndcatorofquality.
workforce
wil make
lagging indicatorsarihoseihat showa result.For
...area aqgingndlcator
exampe.
of qualriyFewerclaimsmeanthat earlieractonsto
arenowworking.(A 'lag'is a delay
betweentwo evnls).
topics.
Seepage1 for somediscussion
Productionand operations 39
Sales
What salesthinks about marketing!
Salesconsultanisi{ill quickly tell }'ou how fteir job is
different to markeiing.They'rethe oneswho hale dnect
coniact!'ith the cusrome.s,ther,re rhe oneswho reallv
know what is goirl8 on in the market,and of coursethel"re
l l r no n p . w h ^ I \ . * r t L t h e i n \ ( u r i n o I - t e . r : r l - e r ,a - d
commissions.Thc marketing guysjust sitln their officeson
fixed salaries,drcaming !p fancvpromoiions,or rhinking of
ncw prodlcts thai later researchrvill rell ihem no one $ants.
tl only the niarkcting guys spokc to ihe salesglys more
ofien, the busincssworld do so much better.
Solestechnigues
Gene|"otpoints
TfI lo idenlf/ lhe d llent .oles nsidei companl Who G
l h e d e cs i o nm a k e . ? W h o saed v c ew i l t h e y i i s t e .t o l W h o
w |cul I be usn8 lhe p.)dlcr?
Trr<limc to soc,aze and bu,ldrappol . lhe fljt fes
nomcnLs h parl c! rr show .lcresr rn rhe clstomci:
e - . . r , . - " i e c . o a . 1 D . o ' b e , e .L
Sellthe prce by demonst,-at
ns va ue fo. mofey (Be,ng
c n e a Ps , ? r e l a v r n u e . )
D,ficrcntate
f , o m t h e . o m p e !t o . w l h o l t o p c n y k n o . k n g
show how fou. c.rses tn orcd.
Bec"edo. 'o^ oloc-cc.a p,.
o,.t
o. cagc ..c
Hondling objections
V , e wo b l e c t o . sa sa . o p p o r u n t y t h e y r c a s g n o f
nte,sta.d are ncvitabe Flrst acknowedgethe po nt.
L l e o o J r_o '
s g n n c a n c eo . t u . . I r n r oa P o s t l e .
closing
iooto. roro, z z.ea.y readyto makea decisionl
The clnome. makesa .eferenceto the p.oductin !se,
pehapswrh an asslmpton n the r way of ta k ng ihat
TL-. ,one'".
r ' c e . r ' ' r ' - / o o p Fo
"oo.
a.h eve afte.thet havebeenlsingthe prodlct fof some
The clnome. ask afteria es qlestions,ie qlenons about
1A SALES
Exercises
18.1 Finda wod in the text oppositethat matcheseach
definitionbelow Thewordsaroear in order.
1 expensve
andcomplicated
Now do th same for the wods in 'sales techniques'
3 a rlationshp in which peoplelike, undeEtandand respect
achother
4 fnro words)somethingth.t helpsyour companydo better
18,3 Techniques
1-7 are all ways of closinga dal.Match
the techniqueswith the salesconsultant'scommntsa-9.
1 Dnectrcquest
I
ga n
3 lmmediate
a Fear5 Alternatives
t l
7 Assumpton
i
'lf yougivemethe go'aheadnow.thenI canhaveit up
andrunningwilhina week./'We havea speciaofferthis
'Wehavthemin stockfor immediat
deivery,but you
knowtheytesellingvryfast.'/ 'Lfyoucan'tgivemelhe
go-ahead
today,the delivery
t meyouneedi5goingio be
difficult.'
'Riqht.letsget thisorganized.'
/ 'Letme havewrtten
confirmation
assoonasyo! canandl'l startthe ball
rolling.'
'Shall
/'When
we go aheadT'/'How
mLich
wo!ldyoulike?'
shallwe
stanT'
'Areyoumoreinterested
in the regLilar
modelor the
executive
modelT'
/'Do youwantto schedule
thisfor th s
monthor nextmonth?'
'Yes,I canseethatthisi5goingto wofk reallywellfor
you.'/'OK,if youh.veno morequenions,
I'l lustgetthe
papeNorkfrommybag.'
'So,th s solutiongivesyousomethng thatworkswellwth
yourexisling
is easyto install,andg vesyou
equipment,
significant
costsavlngs.
Canwe go ahead?'
18.4 Underlinethe @rrcct(or most likely)words in
italics.
I So,ii lookslikethissolltionworkswellfor you.Sh. we
ga in frcnt / ga aheadl
2 We canhaveit up andrunning/ up and gaingwithna
3 ldon't wantto knock/ c,Ucthe competition,
but this s a
mu(hbetterproduct.
4 Thisisthe actua// /atestmodel.
5 Yourc lucky- it'slorsale/ or ialeth s month.We're
runnrng. spcarpromoron.
6 Yes,the onin the shopwindowis for 5a/e/ on sa/e- yo!
7 Inthe weekbeforeChrstmas
we usually
seeveryhlghsales
valumesI quantities.
8 NorthAmericacountJfor / accaunts
for 4AoAaf orl
Seepage144for somediscussion
topics.
Salerand marketing 41
Customer service
The phrase'customersrvice can refer to pre-sales
(eg enquiries,quoiations),sales(mit 18)dd postsales(eg order pro(ess g, rcturs. complailts.
warranty.laims). The phrasc'cusiomersupport' is
usuall]' limiied jt$t io posi sales
au{orn"r -en 1" .i.et b-rress ru.lion fidl b
ofien overlooked.In an agewhen nanv compciing
goodsand sen'icesare very similar ihc qualii] oi
customerserli.e can frake a big difference.Cood
cuslomerservlcecan lead to .cpcat busin.ss,i{hcrcas
unsalisfiedcustotuersiell all thcir fricnds. Ir thc box
oppositcvou will find some tips for tood cusiomcr
42
Litire
lhings that mare a BIG ditlerence
*
Customerrelationship management
(cRM)
Rernernber
to providean FAOsectionon yourwebsite
and sa es lrlerature.
Don'tlorgetyour existingcustomers
Active listening
t9 cusroMERsERvtcE
Exercises
19.1 Finda word in the text oppositethat matcheseach
de{initionbelow.Thewords apparin order.
1 entedasan officalrecord
Now do the samelor the words in'Customerservicetipt'
2 (phrcsalveh)
askyoutbossto dealwith an issue
3 prcmises
to do sornethrng
(twowords)whenyoubuysomethinq
in laEeamounts
printedon paper;small
5 advertsement
of announcement
19.2 Makephrasesby matchingan item from each
1 'olow -p _---\
2 provrde
3 be passed
-'-
guarantee
a rfe-tirne
a purchase
with a qurckcali
anyinconvenience
caused
the urceto argtie
specific
commitments
irom personto person
a flyerinsideeverypackage
detailson a cRtVsystem
5 include
6 log
7 resst
8 acknowledge
'19.3 Completethe squencewith lhe wordein the box.
a canplaiht ah initialenquiry infomation
an invoice(withfre goodl an otdet theorclel
thepayment theNobbn a guotatan the quotation
body-----_\
channel
(ommon
on-scleen
pfered
6
7
8
9
prc-sales
bulkpurchase
money-back
satisfaction
\
\
-':
customeE
grcund
information
posture
of communcauon
guaranree
enquiry
'I customer
profjle
= thefeeling
thata customer
getswhen they?ehappy
2 customer
= whena customer
always
bulsfromthesamecompany
3 customer
receives
the goodsand
pays
= nforrnation,
advice
or
fromcustomers
or g ven
criticism,
deliberately
collected
informally
by them
= a setof questions
youask
4 customer
to find out customers'
opinions
= whata customer
5 customer
feesand
remembeE
thevhavereceived
aboutthe service
= how peoplethinkthey
shouldbetreated
customersaccordingto age,llfestyle,eic
= clstomer needs
8 customef
Se page 144 for some discussiontopics.
Salesand marketing
What is a market?
What is marketing?
a Retailer
. B2Bdistributor
. Advertising
. Salespromotions (eg
special offers, discounts)
Extemalfactors(e8
ehsnciryof demand,
customerexPctahons,
products)
competitor's
(e8profit required,
marktsharerequired)
20 MARKETSAND MARKETING
Exercises
2O.1 Finda word in the text oppositethat mat<heseach
definitionbelow.Thewords apparin order.
partr
I separaie
,
rhc f).r
.l h.i.n
m: a .. {om: p
7 try to nf uefce;a m to h 1
8 possib
e andlikelyto succeed
prcesth.t havebenspe(ialy
9 (twonords)particuLar
I o.P1/egrq o0 o i 90)
1A bi/o wordi s.r,allgtoupof potental cunomBwho have
s milarneedsor nterests
I 1 eometh
ng that rcsuts In mportantchanqee
Now do the samtor the words in 'What is marketing?'
partsot a product
12 rmportant
13 peceof paper(orothermalerial)
withinlormation
on t that s attached
to an oblct(orpr nredon o
14 (thrcewads)how mrchsaesvo umechanges
whenyou
prce
change
the
20.2 Write achof thesewords nextto its besr
definition:advertisirq,ma*eting, prcmotion,publi.ity.
1 allthewaysusedto encoLrr.ge
demandfor a produci
(the most qenetai word)
an activiy thai attractspeople3attenton io a product
(oneaspectat # 1)
tl ng peope about a product(eg of th ieevisiof,
n magarines)in orderto peruade them to buy it
(one aspe.t af t2)
any nformaiionthat m.kes peope noti.e a product(thE
may be unp anfed, out of the coniro of the companyand
'Thfour Pl g ve th
for a partcul.r
4 Sponsored
inkson Gooqe (when. customer
s-"arches
ior
p
Fffecl.e
odLCr
lype'r'
a
\ef
,oJr
20.5 Readwhat a marketersaysabout the historyof a
e decideto target
q f. I to seech.nqes n
20.6 Divide the phrases in the box into three groups,
based on their meanings.
be drivenaut ol apen up .orner wittulaw frcn
entet .apture penetrate doninate
nrateqy
s a r e sa n d m a , k e t , n g . 1
Product
'Product' is
the tust of 'the four Ps' of marketing. rn
markehngterDs,a prodrct is a solutionfora rargetmarket.
The word covers goods and servicesdd cm also include the
waffan\, .tsto'ner support and anv complmentarv products
(eg add-on itemssuchas a casefo. canying thc product).
AI [45
ADVANTAGES
STRATEGIES
Stage1 (brand=benefit):
whenthe cultomerseesthe
brand,
theyassociate
it with
the benefitsthy recejve.
Stage2 (benfit=brand)r
whenthe customer
needs
a
sotutjonto a probtem,they
automaticalLy
think of the
DTan0,
BrandloyaLty:custornels
arelessliketyto switchto
atternativebrandsin the
future;protectscompany
fro'n
Individuat(stand-atone)
branding:'rew
productsaregivennewnames,with no obvious
connection
to otherbrands
or evento the
company
(eg Proctor
and6ambte's
range).
Famitybranding;newproductsare ptaced
underthe urnbrelta
of an existjng
brand(most
products,
consumer
eg Cittette).
partneuhip
Co-branding:
with another
firm
that hasan estabtished
brand(egVjsacards
carrying
the nameof another
orqarization).
Privateor Storebranding:supptiers
produce
for anothercompany(eg retaiIstoressetljng
own-b.a1d'te_s
madebv a1 outside
company).
Brandlicensing:othersareaLLowed
to produce
itemscarrying
the brandname(ega chitdren's
moviecharacter
licensed
to a toy or food
manuftcture4.
Brandstretching:new
productscanbe addedunder
the same'famjLy'
brandname.
Erandequity: oncethe brand
hasa financiat
vatue,
it canbe
21 PRODUCT
Exercises
21,1 Finda word in the text oDoositethat matcheseach
definitionbelow.The wordsappearin order
1 givenfree
2 mproved
lt usesan
camera?
f$ ttaveyouseentnisamazing
'inn
ivelensmechanism
to get 6x optic. zoom.That's
amazingllt3 2fu y auto
c, andhas. 3bu i'in flash.
It3 alsooneof the mostap tabe cameras
l'veeversen it's
so5co d that it easilyfitsin a shirtpocket.lt usesown
bnd,6rech
ablebatteies.lt's. really7
3st
of the-a ple(eof kit.
9t
'integr
t'ue
seenan
d fddgejreezer
that l'm thinking
$J
aboutbuying.Theshelves
areroadl ableandit'svery
'1e
to cl n. lt comeswith an rzopt al icemaker.
tts ren
y-efl
nt.sorrw be 4e(
cd toru_.
andtheysaythe materials
canbe rlec
ed ater,sothat
makesit very16env
allyf
ly.ltb madeby
le manutactJrer,
a rlel
andrts 3t
dblerr a
99
r
ol cotou,s
rshigh-per
ce sneakers.
They
SJ t wanta pairof
2owatefp
haveto be
f.Aso,ldoa otofjoggingand
don'twantto injuremyknees.So,the solesghoud be really
'?rhi -t ch - youknow,'??sh. k-abs bent
aswellasbeing'?sh. d-w. ..fing.And I don'twantjusta
'zasta
d pair- myfriendswouldjustlaughat me No,
theyhaveto be reallyz5styl - i. fact t woLd be
gooorf treywerea i5 'n' eo edit'on
99
3 easyto remember
Now do the tame {or the wods in 'Brands:aims.
advantagesand strategies'opposite.
4 changefrornonethingto another
21.2 ComDlete
the definitionswith the words in the box.
associatian awarcness equity inage
leader loyalry nanaget stedling
I brand
/4agq ......= the ideasandbeliefrthat
peoplehaveabouta brand
= a person
2 brand
who is rnchargeof
developing
andseling a b.and
= the brandthathasthe largest
3 brandnumberof saesin ts productcategory
= the supportthat peoplegive
4 brandto a brandbycontinuing
to
to buyit r.therthanchanging
otherbrands
= thevalueof the brandon the
5 brand--...-..
.--,
balance
sheetof the company
= usinga successful
6 brand......
...
brandname
to seLnewtypesof prodlcts
7 brand .-. .--..........- = whatpeople
thinkof when
theyseeor hearihe nameof a brand
8 brand- --.---................
... = the degreetowhichpeople
Knowabouta brand
21.3 Finda 'brand ..,' phrasefrom the previousexercise
with a similarmeaningtol
1 brandr-ccognition
2 brandexiension
21.4 Writ eachword in the box next to the word in
italicswith the closestmeaning.
ben-selling econony exdusive fawuite
leading luxury traditional upnarket
upscale vlue-for money wefknown
3
brand
salesandmarketins 47
Distribution (place)
'Place'is the secondof'the four Ps' cxstomelsmust
be able to obtain the product easily and conveniently.
This depends on the djstribution chamel.
Retailing
There are a varietv of retaii fomais:
Distribution channels
There are ihree broad categories of companies
lnvolved in dishibution:
Resellers(calleddistrjbutorsor dealersin som.
rnarkets)who purchaseproducis and sell them
to others.Thereare various types of!6eller: a
retailer (who sellsdirectly to the final consufrer),
a wholesaler(whobrys from a meufacturer and
sellsio a retailer)and an industrial distributor
(in the B2Bmarkei).
,l Intermedi.rjes(eg .gents and blokert who don t
aciuaily purchaseihe product.Thcy bring suppliers
and buyers togelherjn exchanSefo. a fee.
.1 I-ogisticscompanies.Seeunit 15.
CHICKIN
'{tilt,,t
aashand Grry (AnE Watehoue
'+
d'-
lJ:!
E.,a;----;^-
48
Channel power
Thiss a key ssue.
Whohasthe powerin the d nr buton channelT
powr
has
Product
Thisiswhena brand a hiqhlevelof demand
hasio nock i, regardless
of the con to them.
andth retailer
buysa largequantity
wholesalpower:Thisiswhena wholesaler
at low con, andcanthenmakea largemark-upwhentheyrese to
small,powerless
retailers.
frommany
Retailpower:Thisiswhenthe retailefcanchoose
suppliels
andso drivesdownthe prceit paysto them.
(PLACE)
22 DIsTRTBUTION
Exercises
22.1 Find a word in the text opposite that matches each
definition below. The words aoDearin order.
1 moneythat you payfof a sefvice
places
2 ftlvowords.)
whercproducts
arsod
3 (trvowords)\\hen a argepercentaqe
oi peoplearereached
by a disiributionchannl
4 (phrasalverb)
a(epr samethlng
that isnr exactly
whatyou
s the way in which lomethinq s arranqed
6 r h e . \ 1 " o ' d F . o r a l o - a n d f . r , l L ' p n a b L L d iS
5a!e5and marketing 49
Promotion
Promotional activities
T h e r c . r cf o u r n . n r i v p e so f p r o n o t i o n a l a c t i \ i i i , :
advertisingagency?
Trendsin
Account managel:
advertising
Creative team:
ceilphonescreens,sociainetworkingsites
Podcasting (audio and video).
Digital convergence:
Media planners:
Auclience monitoring:
Salesp.omotion6
Thisincludescoupons,
specialoiiers,conresrs,
tovaliv
50
! i n a 1 h ,i t ' s i m p o r L r nttu . c m c m b e rt h a tc u s i o m e r s . r e n
t
ihe only targetof promotion.Other iarSctsof a marketing
nressigcmighi bc news nr.dia, spccialintcrcsrgrdlps
(cg enrircnmenLrlorEanizations),
opinnn Iorm.rs
(.9 do.(rs tor thc phffma.cuti..l n !nry), tfad.
n s s o c r . t n h sf a, r t n e r si n t h c d i s i r i t r ! t i o nc h ; , n n c l
(.9 retarle.s),iny.skrs,etupl()yces,.i..,\n oircn ovcrlooktd
a.ca is ih. imFortin.. of in housepn)m,tnn (\plihinB i
ncs pRrfuct kr ihe snl.s f{)rcc.rndmoti!iring thrd k) sctl il.
23 PROMOTION
Exercises
23.1 Finda word in the text oppositethat matcheseach
dfinitionblow Thewords apparin order.
1 largeboards
for advertisemenh
n an outsldepubhcplace
(BrEhoardinqs)
2 providng moneyfor a specal evnlor a sportsteam n
orderlo advertse
a brandname
3 newsabolt somthng on the llevison,on the radio,or
n r e s o . o e r g. 1 d 1 d g d r ter .
4 (1:tuo
wads) nforrnationgivento repoarers
that contdins
new5p u5 supportingmatral(g backgroundiniormatron,
5 s y or lnLrsuathingsth.t are done to 9t pub c attentron
n contactwilh cuslomrs
demandby ofleringa lree tral
awareness
or. new prooucr
how consume6respondto
a n i n t i a c o n c e ptth r o u g hr o t h e l i n a l
iargetedads to a mobrledevce
.n
lN
lG^
8 wherea celebnty
appears
tn orderto generate
sornewhere
9 usinqan oder productaspa(-erchanqe
for a newproduct
23.5 Studythe tabl below carefully.Thenlabeleach
column1-4 with one of th5etypsof promotional
aclivity:advertising,peEonalselling,salesprcmottons,
Pa (mediacoveragsuchas storisabout the companyor
reporti on spcialevnts).
Of (oursethere may b xceptions!
c.9e@o
Paymentmodel
paid
aqqrn9r
o.e way
two wry
non pard
pard
no. personal
p6oia
agqrng
quc(
poor
veryqooo
hgh
m e du m
h 9 h ( b e c a u s e . opnad )
hgh
seepage148for.ome discussion
topics.
S a l e ia n d m a r k e t i n g 5 l
Price
The importance of price
'Price'is the last
I ' r ) f i l a b i l i t yn: c o m p i n yl s u i l l y r e q u i r e a
s mrnrmum
r c l u m o n i l s n r r c s t n r . n(i i c i h . t o t a l c o * so f m a k i n g
Setting a pri<e
5
,.i.
^krrrcrc.l. flrro b. e,rr o.rmcii
f{e.r !.s rr. ir h!r o. a,rir..4l
W h r rn r l r h o d ! ! o r l r i o b . r s . d l o r
. r e n a r o . r r J t n ) e . r 75 c e! . ' r - 1
4 : r' ,
r i l h e r e q o . r rr o b e a p r o h o l . n l
f 50 nre f.lotr' n! rre a opr o.r
lVa.kdown:offer
a ower pr..
,:i .rt,it..r.j.,1i!::
I a rr : r .
r,/r'haI5 o!r nra'[.r po5i onr L]ow.
{a.t.ror i or m.ilcl5hir.)
:
2
: . : r .- i i r i : r r i i n i i i n i t r i { .
5dni..r a L.lllreio our.! ma!
L o $ e a d e rs e b e o w . o n r o
attra.t .lnomer trarT. n a nore
C o m p e l I v eo r . n q ( t a kn q
i n l oa . . o u n I t h c o m p e u t o r s
3 r: i:r.:. 1.:,r..fi.ti:!
5omeor; oirhefolofr ng.eed ro bfixed:
s p . . a r e o i e . r d r o u . I ( e 9r u c e . a l
pricn9 1e9.e.alseot
Ceog.aphl.n
| o.a r,i._osiafdari5i.
diifre.ce5
5_2
24 PRICE
Exercises
24.1 Finda word in the txt oppositethat matcheseach
definitionbelow The wordsappearin order.
2 income;tlrnover
3 (phnsalverb)osean opporlunty to do or havesomething
workoLrt
pu1up
setlleon
brnq down
oelerrnrne
establish
.rriveat
/7_
r gureour
is enouqhto payfor
5 fhree words)obtan rontro or power
doing thingsin the sdmeway
cever and efiectiveway of dolng something
(threewatds) askIot an additonal amouft
oi mony,abovethe standa.damount
excessive
rcasanable
6 poslton
7 set
8 sell
--\
we could,blt eventually
we r
ourpnces
Toras ongas
them
th newprcesfron'rour
lmmediatelywe 4
custome.s.Theyiold !s ihat o!r pricesweren't comptliveany
r o , e u p t o h d rp o 1 r w p d a o w i ) <
o - r c o m p F l r r o .pt r , " . . o r " v e ns l ' c r l y 6
thern. But no more.We \,1/ere
in danqerof losingcustomers,
so we 7
our whoe prcing strategy.
We coudn t afiordto 3
Salesand markting 53
Marketing management
Understahdinga business
Marketrsmust first have a detailedanderstandingof iheir
businessin order to developiheir marketing strategies.
This
is often done using a '5Cs' analysis:
'
Customeranalysis:ihis ini-olvesbreakingdoryn the
market inio scgmcnis.Seeunii 20.
i Conpany analysis:malketersneed to understdd
their company'scosi struciure,lookathorv profih are
generatedfrom differentprodrct lines and different
clstome. accounts,and identify corecompetencies
h ihe
Market research
In order to collcctall this daia, jt's neccssaryto do market
rcsearch.A varicty of tcchriqucs arc uscd:
Quantitativeresearch:thc most cofrmon rescarch()olhere
is a survey ihat capturesinformation nith a questionnairc.
hrf(rmatnnrcan also comc fron doing smill scalc
exprrimentssuchas looking at the effecion salcs()1
2 i r i di . r e . i r i j r !
.u{omets, comperro6,
a o.are resolr.esandpan
en!ineer.9 operarion5
3 C.n.!Ft.b!elo,jnerr
AIth5 sraqemarkeretr.eed ro rhink n
mlch qr.arerderai abourihe.oncepl, e9
w l r o e r a . t y s r h e t a r l e tm a r k e r l' H o w w I
ii fir wirh othere! {n9 prod!.rsl
4 r ' r! i r 1 . i : : : r : j : s
Heremarkeler work.loseiy
wirh .o leaqlesfiom sales
and tinanceto t.y to estimale
rhe li[ely 5e i.g Pri.e,5ales
voLumeproiirabiity and
25 MARKETINGMANAGEMENT
Exercises
25.1 Finda word in the text oppositethat matcheseach
definitionbelow.Thewords appearin order.
1 (fl.vowords)thingsthat a company
cando we,
2 th ngsthdtcoud causedamageor harm
3 setof questons
thatyouaska larqenumberof peoplein
orderto f nd out theirop nions
4 a writtenlistof ques|ons
5 rlatingto th ngsthatcannoteasilybe measured
wrth
numbers
suchasop nionsor attitldes
(fl.vowordi) smallgroupsof peoplewho a askedto
discussand give the r opinionsabout. particularsubject
coTe
\
b.rg.ning
quanttative
locus
9roup
8 competitVe
iest
1l beta
12 technca
advantage
polnt
2 A supplier
of specializd
components
hasnrong
Theydecided
to sellsomesmalbusine5s
unitsandlustfocus
Afterthe initialidea5havebeenscreened,
we moveto
the
where
we
stage
th nk aboutthe
productin muchgreaterdetail.
Theadvertising
agencyhaveprodr.rced
somenewideas
tor outdoorposte6. wantto showthemto the nxt
..
andsewhatpeopesay.
Bythetimethe newprcductgeisto the
\'aoF .hp n arl.F.ea h.ra done rheir
salesand marketing 55
Income statement
Theincomestaiment
(profitandlossaccount/'the
P&L)
is oneof a compay's threemajoifinancialstatements.
(Seeunits27and28.)lt neasuresa conpany'sfinancial
performanceover a fiscalquariei or a fiscalyear In
sul]mai)tit shows:Revenuc
minusExpeNes= Profit.A
fullerversionis giren in theboxandthenexplained
beloa'.
Costoi saes
SG&A
prcfit
Aperating
+ Noftoperatng profit
EBlTDA
- Deprecaton
EBITDA
EB1TDA stands for 'eamings before interest, tax, dcpreciatiorl
and amortjzation'. or1 the P&L rve subtract thc I, T, D and A
Interest(paid to the bank for any loans)
Iax (paid to the government)
DeP.eciaiion(= the gradual lossin valuc of tnngibleasse$,
eg vetucles,nachlnery)
Anrortization(= the loss in value of inidgiblc asscts,
eg patcnts,copvriShis)
Budget report
Netproft aftertax
- D v dends
Betainedprat'it
What is revenue?
I{evcDrc(= turnolu)js ihe nroDeyihal comesinto ihe
company from thc salc of productsor scrvicts.This figure
is retrncd io is 'thc top lirre'becauseof whcr. it appca!son
thf l)&1.'Top linc growth'refers io sal.s growlh.
What is profit?
Profit (= earnings)hastwo components
l Opcnting profit (from regularbusinessa.tivities).
I Non-operating profii (eg toom ihe sale of some lmd or
shares in another compmy).
what causesvatlance?
causes
of a change
in revenue
A changernsalesvo ume.
A changein lhe profit marginon eachitemldueto
h ghef/ owerselingprices)
Causes
of a changein profit
A compex nterplayof the changesin revenueand
(o5t5 -ctud rq rh" difla."r vo$ oJ
5
:o:
The budget ieport allows mmagers to seewhere the
uexpected changes are, and which chmges are the most
siSniJicdi. The reasons for any varimce cd be identiJied
dd dv codetive aciion ial<en.
56
25 INCOMESTATEMENT
Exercises
25.1 Undrlinethe correc word5in it.lics.
I Thetrm'turnovelmeans
/ proflt
the sameasrevenue
2 Theterm'earnngs'means
the s.me.s revenue
/ prolit
3 Thterm 'overheadsrele5 to the directcostsof naking
products/ the indied.asts af sellinga produd antl running
4 Thewagesof factoryworkersandrhesalaresof ofiice
workersareshownrn the sane place/ in different places
5 A company
buysthe patenton . pieceof a tchnology
for
patent
yea6
The
lasts
for
l5
is
rccoded
$30m.
50 $2m
eachyearastan amodrzatlon
/ depreciatlo,
exppnse.
6 Thewordwhichmeans'betoreoihrih ngsaretakendway'
ls9ro5s/net. t canreferto prcft, salary
or weight.
26.2 Completethe P&Lwith the words in the box.
EBlf
lncane taxes
SG&A
Deprec
alionandamortzaton
Totaoperatng expenses
Operatingpro{it
p.ofit
Non-operating
Earningsbeforeincometaxe5
Net profit after tax
Retained profit
1
2
3
4
5
t't0,219
$4,155
$480
(58,607)
tl,6't2
$65
11,677
\5/2)
t1,505
($514)
51,091
($710)
9381
n LJ
"d
57
sheet
The balance shei (BS)is mothei finmcial statement ihat
cornPanieshave io produce as part of then accouts. (Se
also uniis 26 and 28.) The BSappLiesio a single point in
rime, and gives a pictue of everlthin8 ihai a compoy owns
(= its assets)and everyihing that it owes (= iis liabilities).
Thebasicequalionofthe BSis: Assets= Liabilitiesplus
Shareholders' Equiry A tuller velsion is given in the bor and
ihen explainedbelox'.
Currntassets
Cash
Long-termassets
ntangbleassets
Current liabilities
Bankdebt
Lab itiesior tax
Short-termprovisons
Long-term liabilitie5
B a n ko a n 5
Bondspayabe
Shareholden'equity
Assets
Current assetsare thosethat can bc iurned into cashquickly.
Thcy include cashat thebank, accountsreceivable(ie money
owed by cusiomers)and inventorics(ie unsold stock).
Liabilities
Curreni liabilitiesaie thosethat hive to be paid within the
next year They inclDdebank debt,accountspayable
(ie money owed to suppliersand utility bills), liabiliiies for
cureni tax and provisions(ie money set asidefoi a pariicular
pulpose,eg bad debtsor a couri rulinS).
LonS-tcrmliabilitiesilclude bank loans(includinSany
frortgage)and mony orving to bondholders.(Thc principal
has to bc paid back at the maiurity of the bond.)
Shareholders'equity startedas ihe capitaLoriginally invested
to begin the business,and now ii has grown through
a) rcinvcstedprofits and b) any additional sharesihat hale
beenissued.Think of it like this: imaginethat the business
had to stop,and all the assetswere sold and this moncy
lsed to pay offallthc liabilities.What would happcn to the
remainingpart?Thc answer is thai it would bo reh'rned
to the shareholders it belongsto them. lt is their qlily
(capital).
Wlratcana balance
sheetshow?
Liquidity
Liquidly is the degreelo whichan asselcan be
conve(edto cashquickly.
Thisis oflenmeasured
by us ng the currenirat o', which is cureri assels
dividedby currenttabilities A h gh currentralio
meansthatoverthe lofgertermlhereare p enlyol
assetslo converllnlo cashio pay the debts.
A moreshori{ermmeasure
of lquidityis'workng
capla e currentassercninus cuffentliabilities
(levelof debt)
Leverage
n everyday
languageeveragels lhe useol
borro\aedmoney(e debt)to lry to increaseprofits
n accouniants'language,
leverages a measure
of
how far a companyis lundedby Loans(eg banks
and bonds)ratherthanils owncapita.On a BS
leverageis def ned as /ong tem liabilitiesdividedby
sharehalders equity.
A highly everagedcompanyhastakenon a lot of
debt Butihls isn'iawaysbad:borrowing
funds
wiselyto expanda growingbls nessis qood newsior
58
Bookvalue
'Bookva ue is a company
s networlh(ie itsf nancia
value what s lefl on the books- if il wentoul of
busness).ll s an everyday
termwth lhe same
meanng as shareho
ders equty So bookvalue
equalsloial asselsm/rus tatalliabilities
Anyonebuyingsharesln a companyis buyng a share
in lhe bookvalue,plusa sharein anyfuturegrowth.
Profitability
Thereare severalcomr.onmeasuresoJprofitablty
but oneol thecommonest
ls Beturnon Equty (ROE).
Returnon Equityeq!als ,'et pratl aftertax dividedby
shatehalderc'equity.
ROEshowshowmuchprolita companygeneraies
in
relationto its bookvalue.
27 BALANCESHEET
Exercises
27.5 Theverbsin th box canall be usedwith 'assets'.
Dividethem into three groups,basdon thek meanings.
have
buy
sell
pay back
(phrasa/
verb)givesorneone
allthe moneyyouowethem
Note pa'dback ist ttheans^er)
commonmistakesManylanguages
usewordslike'actrves
and'passives'for
assets
andliabilites.
Thege
wordsdo
not existn English.
Also,manylanguages
usea wordlike
'ob igationlfor bonds.Thisis a fakefrie.d - the word snt
Lised
in thiswayin Englsh.
27.3 Completeeachphrasewith a prepositiontrom the
1
2
3
4
a currentassetcanbe turnedquickly
'accoun6receivable'
s moneyowed
'accolntspayable's moneyowed
'financial
assets'
areinvestments
5
6
7
8
'provigong'
ncldes money9etasde
baddebts
bondholdeB
haveto be paid
.t maturity
prclits
shareholdeE'
rcinvestd
equltygrows
a h ghly everaged
company
hastaken
a ot of
cash
cusiomers
suppliers
.nother
IO
youcan
1 lf youdesigna newproduct,or a newprocess,
applyfor a
Thisglvesyouthe gal
ight to be ihe onlypersonto make,useor se t. lt lastsfor
a limitedperodof time.
2 lf youproduce
an or qinalpieceof work(e9a book,design,
youownthe ..................
on it.
computerprcgram),
(.lnoUepoduLer wtho-ryo-roe r sro1
Othepeople
Therightis creaiedautomatica
ly youdon'tneed10appy.
nameor symbolthatyouu9e
3 lf youhavea unLque
yo! canapplyto register
for yourproducts,
it asa
oncethishasbeendone,oihr
peope cannoMe I
Sepage149for somediscussion
topics.
companyfinan( 5!
-lal
7<.t
-
cash
Cashcan cohe rron (or be used for) threeareas:
l, Operations:this is money received(or 1os0from actual
/, Investing: this includesmoney spenron physicatproperty
(egplant and equiprnent),money received(or tost)by
nlvestingin stocksand bonds,and money made (or lost)
lrom buying or sellingsubsidiaries.
{, Financing:this includcsmoney made by issring ne{'
shares,noney spentby buying back sharesfrom the
markei,dividend paymentsmade to shareholders,
money
.cceivedby boftowjng from the bank and money lsed to
rcPayprevrousLoans.
A sinplificd CFSproducedat thc eDdof a fi'rancialyear
might look like the one in thc bor.
3.600,000
80,000
30,000
30,000
10.000
- 60,000
3.690.000
- 800,000
300,000
- 630,000
, 400.000
2,'t60,000
60
2A CASH FLOWSTATEMENT
Exercises
24.1 Finda word in the txt oppositethat matcheieach
definitionbelow.Thewods appearin order.
1 largemachinery
usdin ndustralprocesses
2 offcia y nrakingsomething
avalableto buy
3 (infom al) calculaliors
takenawaylroma tota amount;subtracted
5
6 money,
espec
allywhenits usedto starta blsiness
or
producemorewealth
24.2 Belowyou will ree a simplifiedcashflow foreGit
tor a new business.Notethat a cashflow forecst looks
torward, unlikethe cashflow statementopposite.
Studythe first two columns,then add thesefigurer in
the @rrectplacin the third column,
940
9,564
Saes
CapitaL
n
Totalincome
Eiq ce5
Feb
30,000 '
Opningbalance
9,000
30,000
30,000
10,500
9,000 '?
200
40
200
40
6,500
r,800
4,000
1,800
2,400
400
2,400
400
400
80
240
Directcosts
Salaries
Ofiicerent
Officesupplies
Utilites
Totaloutgoings
Net cash{low
' Endingbalanc
balance
200
30,000
30,000
500
12,O40
(3,040)
25.950
the samelogic
somihnq asan expefse
capialby issunq newshares
a creditaccountn ful
5
6
7
8
moneyfromthe bank
shares
fromthe market
fiqLire
one
fromanother
informatonin a cedainway
companyfinance 61
62
'''
'
Managingpayables
'
'
' '
Exercises
29.1 Finda word in the text oppositethat matchesach
definitionbelow The wordsappearin order.
1 rnadeto feel ssworriedabouisomething
2 arrangement
wth a bankthata owsyouto hava
temporary
neqative
balance
3 contnLrng to do somethng,especia
y somthing
bador
annoying
4 fMo r'vordtcoststhatdon'tchangewhenproductongos
1rpor oown
5 th d fference
betweentheamountyouhaveandrhe
amounryouneo
29.2 In the 'Tips'box you will seethe commonand
usefulphrase'thedevil is in the detail'.Fromthe context,
'
havea healthy
2 be a we -ertabshed
3 havedaly oper.ting
5 takeadvantage
6 seesomethng froma strict
7
8
t
10
11
12
makan nital
runcredi
haveheaviy
havepeEisient
negotate
exiended
givean early
on a dayto daybasis
accountrn9
vrewponl
oi a lineoi c.edil
Background
Manuela3
bueness
is thrceyearsold.Herannual
.... ., is 180,000,
of which20,000s
profit.sheoperates
with a bankovdraftof up to 25,000.
Manuela
succeeds
in winningan impoftantcontfactio
supplyNovatech.
Theorderisfor 40,000a monthfor iwo
ye.'s Sl'ew I be pdd 60 ddy5at"' ?
(Note:sixtyworkinqdays= threemonths.)
She.allshersuppliers.
sheordersevqdhng sheneedsto
fulfllthecontractif the flrstfew months.
Ihe lirst month
go we l. Manuela
Thrngs
rceives
hers!ppiesandbeginsto
makethe itemsfor Novatch.
The se(ondmonth
Manuela
maksherfid delveryto Novatech
andshe's
happyHersupperscontnueto supplymateriak,
but to pay
ller .rlsl.e1a9to 'rced-eherr
Thethird month
Manuela
makesmorede vereslo Novatech,
but her
overdralt
i5.ow at ther
Thetourth month
lvanuelais worried.Shecanl payall hersuppers.
However,
shethinksshe'llbe finebecause
shebstil
delivering
to Novatech,
andtheyre pleased
wirh herqLiaty.
5Ow-payrng
cuslomers
Thefifth month
Thefirstpaymenliiom Novaiech
arrveson rirneThirhelps
Manlelato paythe most5
b i l l s b, u i
heroverdraft
h nill 4,000overth irnt. Somes!ppiers
afebecoming
uneasy,
andone s thfeatenng ega acton.
Thebankrefuses
to 6
.ny more
Thesixth month
Novatech
arehavlngcashflow problems
of theirown,and
decideto 7
theirsm;lestandnewest
suppliersTheywriteto Manuela
io saythai unfortunately
theirpayment
thismonthwill be delayed.
A few daysater
herbankdemands
thatthe overdraft
is repaidwithinseven
ddys.Manuela
decrdes
rharshecant 3
anymorcordersshecloses
the business
andbamesthe
Seepage149for somedilcussiontopic5.
Companyfinance
63
erofitabilitv
''j1,,
i,,
',
tlt
\ii'ii i,
a : i: I i a r:.:t
! i : a : ' ,i ' : .
All the questionsaboyecan LrcanswercdLryknoNing one
snnpLething:the relationshiFLrcts..n fircd nnd r.riable
:,,it,t, rl",tt:tfit:'
,r:::,.ti,.,',t.:ttrrtii;t?'
operating leverage
Breakeven analysis
Oncc vou know specifjc!.lucs 1orih. larious .osts, thL'Iirst
lhnrg youle ible k) do js i brc.kclcn anall'sis.
Volume
Sale5
30 PROFITAEILITY
Exercises
30.1 Lookat the graph then underlinethe correctwords
in italicr in the statementsbelow
Sales
1 lf pointA represents
sasof 100uni15,
thenpoinlB
2 1fbracketa' rpresents
a proftof 100,000,
thenbrackel
'b' represenrs
a profrto{ l2a,aa0/ 2)a.oaa.
3 Thismeanstharan n1eateh sale\ot 2Ao/./140'/"
prodlcesan increase
I prcII aI 20%/ 11Aa/a
leveage/ contributian
4 Thlss the phenomnon
ol operating
T l r e9 r a p ha b o l el h o w sl h a tl h s c o m p . n yh a ! h 9 h o p e r anl 9
leverageAsmallrse n saes({iornA to B)produces
a large r se
l n p r o f l s( l r o m ' a t o ' b )
5im arly a smalllall n saesfrom B to A prodlcesa large lal in
lrrroni's/aae,ri:ri
(trqutesin 400)
5alesrevenu-o
Costol goodssold
S.e- (oan "on
S hp p n g c o n s
T o t a l v aar b c o s t s
C o n t rb u t o n m a r gn
l i n eA
500
l i n eB
765
i n eC
830
275
80
35
325
05
30
(460)
374
40
55
(s6s)
40%
320/o
{390)
22%
Saares
Advertisnq
Elc
Operatingprof r
check the definition ol'contribution margin'opposite to
see how the ./" figures in the table are calculatd.
t x a m p e( l n e A ) :
Graph
5 0 0 3 9 0= 1 1 0
SalesVolume
Volume
Sale5
Seepage149for somediscussion
topics.
, o r B , h a v em a n a g e Br e d u c e tdh e
1 I n w h c h g r a p hA
adveftrsnq budget (d {xed cosl)?
2 li wh ch graph,A or B, havemdnagersfound another
s . p o 1 6^ r l L ' r 6 r p 4_ 1 "" ' r "
os.
"\"r"ol"
company financ 65
Financial markets
Stock and bond markets
Stockmarketsare the best-knownfinancialmarket,and
thet tunction is fiJstly to raisecapitai when a companygoes
public (ie issues shares for the firsftime), fld secondly to
pro\-idea placewhere blyers ed seilersof thosesharescan
ihen exchangethem.
Wller a brsiness rea.hes a ccrlain size, the origiral o$,ners
'ni8hi decideihai they hant to go public dd Lisrrheir
shares(AtrE stocks)ona stockmarket.With rhe hetp ofan
hvesiment banl<,they sell thesesharcsio lhe marketat an
IPO (hitialpublic offering).Ahrge:i!m ol money entersthe
businessas a onc-timeevent and can be uscd io expandthe
business.Owne.ship of the businesspassesf.om the original
foundersto the shareholders.
The bond market is .lso used to raisecapiral,but ir this
.ise the capital is raisedas a loan.Bondscan bc issued
by companies,governmentsand somemunicipal orsr.re
authorities.Thc iDveskr ihc bondholder- providesmonev,
ancltlis is paid b.ck with intcrestover thc tcrm ofthe lo.n.
Sbcks and bonds,which are collecrivelyknown as
'sccuritie{, are activcly
tradcd on the ma.ketsifrcr thcv have
Thsearlndivduas whopurchase
sma amounts
ol securteslor
InstilutionalInvestorc
nsufancec0mpanes
Pensiontunds nveslmoneythal
peoplea.savingior ther retremenl.
lnsurance
companles
investthe
moneylheyfecelve
lrompoicyhoders
(BrEunttrusls)poo
Muluallunds
lhemoney0i rnanysrna nvestors
tarnvestn seectedcornpanies
na
Money market
The nloncy markct is lcsswll-knos'n,bui it provides
importanishort+ermliquiditv for ihe fitraDciatsvstc,m.
Conlpinicscan ftrnd thcir shori-iermneedswith a rnngeof
clebii'rs[umeDts,oftcn refen d io as 'commcrcialpaper'.
Banksusc this papcr to bo.row anctlend amongsithcmsch,cs.
Covemments,siaLs and localgovcrnmentsalsohav. accessto
moDeymarktinstrumentsto tund thejr short,tem o.ot.
FX market
tsyfar the larg.st liiancial markei nr thc world is the foreign
cx.hange(forcx/fx)narkct. Companiesneedcur.encjesto
pay their foreignbills. Centralbanksbuv.nd settcurencies
lon'qipuldr. rLee'.h"-geritF Covc'nnenlsu\ecur.ncic.
io buy the bonds of other couniries.Pensiontunos neeo
currencresto make irvestmenis ovcrseas.Speculatorsbuy
and sell cu .ncies as ihey chaseshorr-rermbends, adding a
loi oflolatility to the svsiem.And evcrybodv$,anrsio hold
their spafecashin a currencywith a good rate of interst.
Commodity markcts
Comodity marketsexistto tradephysicalprodu.ts suchas
oil, gas,metals,grains and meat.
Derivative markets
I n a l \ . t h p r er r e o p r j \ . t i \ ' $ m " r l p ' , . A d e d \ d h l p i - r
fimncial irNtrumeni a'hose value is derived tiorn (= depends
on) another asset.For example, an oprions coni.act on a siock
allows you !o mke money ifthe value of the unde.tving
sto.k rises(or falls)to a certainlevelbva certaindate.IJ it
hveslmenlbanksbuyandsel
securties
on behalol ther c ients
(largecornpanes),
andon lhirown
Oltenqute secrtive
theseare
companres
thatpoo ther.oney
of wealthy
inveslors
andact n an
aggressve
way:spec!
al ngona
shorll.mbass usng everage
(reooffowng money10ncrease
polenlial
prolts).usingderivativs,
etc.
Theselrrnslypicalynvestn privat-"
cornpanesnorplb cly sled
compan
es.Therearetwovery
d lf-"renl
lypesof activty:
+ venture
captall0slpponstan-ups
+ buyolls (where
a companys taken
over,reslflclured,
andthensold)
Sovereign
wealthfunds Thseare nvestrneni
vehicesowned
by nalonalgovernments
wilha arge
budgelary
slrpus (egbcause
of oi
revenues)
Theyinvestin a rangeol
assers(egstocks,
bonds)
Hedgelunds
31 FINANCIALMARKETS
Exercises
31.1 Finda word in the text oppositethat matcheseach
definitionbelow.Thewords appearin order
I peopp wl_o -a- a bLsners
2 d o u n F L q , \ " r l o . o n a o ^ F w L o I n v e g l r1 1 o _ a yi r
"
government
or company,
wh ch promseeto paybackthe
moneywth nterest
3 (fl1lor.vordi)
the reaton in valuebetween
onecurrency
(eg/ $)
andanother
(egshdres,
4 peopewho buyandsellassets
bonde,
currfcies,
rawmateiat n the hopeof makng a quick
prorr
5 ..ddAno're dd gF'oJ .rarget
6 P -"q " ; ng .nd"rIl_P.Jd".e
Now do the samfor the words in 'Who are the players?'
opp05ite.
7 fthr-.ewords)actinSasthe representatve
of; nsteado{
8 peope who own insurance
9 combinepeople!moneysothal I canbe usedmore
effectvey
10 (two wotds)narcy inuestedin a new companyto he p 1
11 stuations
in whicha person
or grolpgarns
contro
of a company
by buyng a or moslof ts shares
12 (twawords)whenagove.nment
receives
more
thant spendg
perodof t nre
overa parncular
31.2 Putthe words in ead box into two groups,based
on theirmeaning.
b.a!
br|| dep,es.ed.lattirg
.baofr.g.
neauntlnstng s(onq weal
Ta..el
goad,high-tisk,profttable,isky, secure,
saund, speculatlve,
wotrhwhile
9o -\
s t \
raise
\
payback -iund
capitalby irsuingbondt
papea
short'term
debtwith commercia
sfrares
on a stockmarket
pub c with an IPO
6 manipLrlate
8 bLrysh.res
9 support
connodtty.antrads dawnsidetisk
hedgtng levetage underlyingassel
Twoconcepls
thal arefundamentalto
modernfinanceare
everage
andhdging.
i
is usingbofiowedmoneyto buyan
nvestment.
Youinvest100of yourown monyand100
- or 1,000 oI the bank's.
Thisg vsyouenormolsproftt
good
i your nveslrnnt
sa
one,but a so magniiies
the
'
. o,ot oi everagen a rnarket
increases
volatilitylf the marketmovesagainstyo!, t's
notilsl yourown moneyyolJ'reosng,but the borrowed
qrJcky to
money.s we . SoyoLrhaveto se shares
mi.imlzelosses,
andlhisdrvesdownthe marketvery
3
meanstry nq to protectyounef
againstrisk.lf youhold, lot of shares,
foreiqncurrency
or
o
makemoneyfthe
, yoLr'llcearly
priceof the assetgoesup. Butif the prceqoesdown,yoLr'll
lose.Youc.n hedgeth s riskby buynq a drvatvthat rs
structurcd
io makemofy.s the plce of the
falls.Soil the marketmovesaqdnst
you,at leastyouhavesomeprotecton.
see page149for rome discutsiodtopics.
F i n a n c i aml a r k e B 6 7
Investing in stocks
'bid/offer
sto<ksand shares
The word ttocks' is !sed in ihc US,boih 'stocks'and 'sha.es'
]n the UK, and 'equities'inside thc industn The people$ho
(Plalers
oa'n them nre knos,n as stockholdcrs/shareholders.
in the market are shown in unit 31.)
Acompany's sharesfirst appea,on a skrckerchangeat the
IPO (initjal prblic ofierlng).lsee units 1 and 31.)Fron this
poirlt, drev begin to be.cin.el! i.adcd on ihc e\change.
Peopleb!y stocksf(r hLo reasons:
Stockspn! i di\idend. \'o! cin scc hom ihc nrconre
sLrte ent in unit 26 that sonr of thc lrcfit that a .onlpan!
nakes is returnedto ihe sharchol(lc,sere^ yc.r as a
divid.nd pa)Drent.
0,c pri.c oI lh. stockon the markei.in eo up. If lou but
lo{' ird scll high, !o! nrkc . prcfii (ie r .ipiLrl gain)
Obviousl)'r'o! can ilso m.k( a loss.
\'{.' 'i'
r . l ' i r l 1 . , . i . l r , ' _ - . 1 , ,, . . . . r "1.
Funds
Insteadofbuving siocksin an ndivldual .ompiny, you ca.
buv *ocks in a lu1d. ru.1s hold a rangeof sharesand a
di\ersificd portfolio helps to spiead risk. The fund managcr
picks stocksilith th help ol analvstswho hale expertiscin
part'cuLnrareas,for exampleChinesebanks,or small blotech
comp.nics.or di'idend-paying.ompanies.
I n . , * r , , . . h . ^ - " ' , r . . 1 ' ^ nr i . " l . r . i - .f r h H i - h . ' l . l i n r8l -- c r l
past perfo.mnnc.. thcir m.nagea their risk proliLcan.l thcir
Evaluating a stock
PRrfessnrnal
in\esktrs k{k ii. {holc ranScof fickts when
d e c i d i n !n h i . h s t o c k sb b u v :
SWOToflh companY
l).5: rnr.r.il!.
\.rnn l) .r, ..
Fin.n<lalrltu.tlon of
r r l . . r i r.L , r r i rr n ' rr r . f t
a.i r i .rl
P r o r p e . ri . r d L I p a t u i . !a r i d r r r y
. o . ! r r n r r ! D e r . lr , 9 . 1 .
Ie<hnl.al analysis
! r ! d ! f g . h ; . r p r t t e f f s ! p p o , ta n dr e s i s t a n .r.r,; d n q
n!d! f9 .re!:or iei: mefr (eqpr..5 arercwerrrhen
r e . r r e r l s a t r sm o ! : b e a r s h )
a ! . e a n a , / irr i e a s c n a
i t y i e g! i o . G d o b e t t e frt o r i
I r i r e\ . c o i d h af . f a L l 5P r s d e . t ! t e r ml n o f f . l
32 INVESTING
IN STOCKS
Exercises
32.1 Find a word in the txt opposite that matches each
detinition below' The words appear in order.
1 (h,vor,vofdJlaccountifg. p.ott thdt s mddeTromthe s. e
2 d numberthal showsth
ol somethifg,so
t h a t y o ! c a n m e a s u rceh d f g e s
3 a n a m o u n to r n a n d a r dt h a t y o u c . n t r l et o r l u d gn g h o w
q o o do r b a do t h e rt h r n g s . r e
4 do nq beiter th.n
s tn/o wofdJ): r.nse of d fferenttypesol nocl5
be.!arible
9 p o 5 sb t i e 5( e s p eacL l yg o o dt h r n g st h a rm q h l h a p p n )
1 0 f r h r e ew o . . / t l h n g sl h a l m a k c 1 d l f . ! l t f o r .
n e w c o m p a n tyo e i t e r . m a r k e l1, o re x f m pe t f r c
n e e dl o f , o t o l . . p l i l o . 5 p e c ., z c dk n o w - h o w
1 1 a p n . e e v e o n . n o c k c h . r l l h a l h a ss l o p p dp r e v o u s
12 ltwa woftlt \||a pata el ne5drawn on a no.l charl
l f a t c o n 1 a rlnh e p r c e n o y e m e n t o
! ! 0 r a p f i o rol l t m e
l 3 h o w p a y e r si n t h e r . d r k e tf e e . b o u t . n n d v d l a l n o . k o r
l 4 a s e . r eosl e v e n l st h a l h a p p e n . q dn a n d . q a n n t h 5 r r n e
o r d e ro r a l t h e s a m et r r . e s
3 2 . 2 M a k e p h r a s e sb y m a t c h i n ga n i t e m t r o m e a ( h
I m a k e a d v d e n d- - - .\
2 quoteabd
I h a v e . d N e r sJ e d
5 rsk
5 qrowth
p e r l o r n r a n cl oel a l u n d )
8 investor
l h e . n n u : s ae s p o rs h a r e t s l s e t u l$ / h e . e l a l d t i 9
y o u n g . o m p : n r ews i r h o t s o l e a l e sb u t t t l e o r n o
4 ROERetlrn on eq! ty Th s s the net proft afier tax
d videdby the shareholderlequty lt |s a rneasLrre
of
how effcientlya companyuse5ts 7
to prodLrce
earnnqs
5 Div;dend Yield Th s s the dnnLraid videndper shar
d v i d e db y t h e s h a r ep r c e l t s h o w sy o u t h e r e t l r n n
d videndslhai you qel when yo! buy a stock Yo! need
1o know lh s I you re ookinq for req!lar dLlidendsfrom
an esidblished
.ompairyratherthan the chanceof a
3
trom a h qh riskgrowth stock
S e ep a g e 1 4 9f o r s o m e d l s c u s s i o tno p i ( r .
F l n a n c l .m
l arkere 69
Recruitment
Rccruitnent Fning) is a tev area$ithin human resolr.es.
Thc processinlolves nany decisions:
uals
7A
33 RECFUITMENT
Exercises
33.1 Finda word in the text oppositethat matdes ea(h
definitionbelow.Thewords appearin order.
.
liurndn,o\our.ost.ar9eot + r \
2 b . ld 19,rLdr. bJs-e9s-ses
3 decideto usea particLr
ar amolnt of money,
trme,etcfor a
panrcurar
purpose
4 e/dr r"r o. rharyoLfave pds,ed
5
9 a pre'designd
docLrment
formatledfor a pa.trcular
purpose
'0 ret io
.l_o of u_de'slaldr_g
f rdhress
c_drespect
11 decideihat someone
hasa partEuar standard
or level
12 a jobthatisavailable
6 to talkabouta candidates
empoymentcontct,h6torJ,
1 be on -- =\
2 recrui
3 work
5 sta(
.-
work n a differentway
a permanent
contract
looknq esewhere
for a job
off the premises
a9a freelancer
tempsthfouqhan agency
6 .sk
8 keep
9 d o
10 drawup
a shortistof candidates
on achevemenls
r.therth.n skilk
quesr|ons
open-enoeo
someba.kgroLrnd
checks
hand in your
denandinq
Seepage150Iorsomediscussjon
topi.s.
Human resosrces 71
Benefits
Ben.fiis,the secondareaofcompensation,are covere.ln
ihe tablebelow V.nv of thesehave a minlmum level ihat
is requiredbr las',but an opnon is for the companvto
Levels of pay
How do vou decidcnhat levelofpay is appropriatc?You
. J n - . " r b i f , , ' d . [ e o ! th r r o , h c r m l ' o \ e ' - , r . t . , . u 8
The best wav to get ihls infornation is probabh'netlLorkirg:
ask existnlgstaft counterpartsfronr oihcr.ompanies, pcoplc
.lready doirg thatjob, eic.You could alsolook at ihc job
adve'lisenentsjn loc.l nerlspipe.s and igcncics,or pcrhips
consuli with yo!r ch.mber of comnerce.
Sometimesthe salaryfor a job is fi\ed; ar other ritres it m.\
bc opcn io dis.ussion,for cx.mple ai interlie$ or *hen i job
otlc. is nude. A studcnt lookmg for their iirst job p.obablv
won t hi!e n1u.hlr.f8nnring $Ner ocr p;r\,,but other
pcople might. ln parlicular you ha\e a Fosiiionof strcngthif
you hd!c srrcci.ljzcdskills.ir e\ishlt tob, ind rou cin see
lhii the .onrp.nly n.cds yo!.
ticsidcsddc nlg how nruch io piy nds' hires,the othcr
miior conce ofcn\rloycrs is hos mlch of a ris! (AmE
txisc) kr Bivc cxistingcmpkrv..s. Thr thre basjcappr(r.h.s,
w h i c hn r c o f t c nm i r . d , . , c :
(li!e rvcryono tho sinlc
Fcrceni.rgcrisc.
( ) i l ' { . . r . r . ri ln , r r _ t . | , ' . \ l , { ' l . r F t . , ' r \ , r \ i . r
ll.vr .n inc.ntile schrnx,wh.r. p.rt of tho ris. is a bonus
brnal on p.rtortuan(e, rcsultsor profits
Pertormance-related
pay
A n n L a l e a v d a y r( p a i dv a r d t o n )
Srckeav
T me off for pregnancy(mdternty
eave).b rth, mov ng hous,elc
Life nsurance- attractveto people
with la.n ies
P r i v d thee a l t hn 5 ! r a n c e
D s . b i i t y n s u r a n r (ef o rs e r o u s ,
p e r r n a r e nI rn l u r e sr n a rc a l s e o n g terrn ossof n.ome)
Pension plan
(for
rtirement)
Workers'
(ompensation
Frangebenefits
Car
Laprop..nob e device,etc
N . 4 . n b e r sohf pa h e a l t hc u b
Empoyeediscounton the company!
own products
Reocationexpenses
34 PAYAIID BENEFITS
Exercises
34.1 tind a word in the text ooDositethat matcheseach
definitionbelow.Thewords aooearin order.
1 (twa wotds)ofricelobs(atherthanfactoryjobs
2 (humanresaurce,cantnueto emplof keep
3
: <.r o< ^f
16^"1:r
(threewords)advantages
anddisadvantages
5 (thrcewards;idiam)daingthe r shareof ihe work
overttne pe*
wage vveiqhtinq
7 gradusly m.kingsomethingesseffective
4 (formd,payment
th.t yougetfor yolr work
8 rhFp'acr(eo'obe)rng
a aw
9 oderedby l.w
l0 unfairtreatment
Now do the samefor the words in the box opporite.
11 a conditon
in whichsomeone
isnl abeto usea paftoi
ther bodypropery
12 (twa wotdi I|ingsthatyo! gt in addtionto yourbasic
packa9e
cornpensatr0n
34.2 Makephrasesby matchingan item lrom ea(h
----\
1 compensation
'2 bargain
ng
3lncentive
4 tfe
5 m nimum
6 materniy
7 pension
8 end-of'year
scheme
packaqe
wage
the rnoneythatsomone
is paidfor the extraho!rsthat
theywo.k
an amountof moneythat is p. d to somebody
everyt me
thysella product
a payment
thatsomeone
5!cha5a writeror muscran
each
time
their
work
s lold of pedormed
9e$
exlramoneythatyou?epaidin addiion io yourusua
y asa rwdrd'o goodpeJo "lalcF
salaf' especra
yoJ$o l in a'rarea
erlraarourr o' paygiverbecaLse
whereitl expensive
to live
l0 something
extrathatyougei froma lob,vrymuchlike
a fringebeneiit,but it canhaveno monetary
vaue for
example
the chance
to trave
34.5 Crossout the qle word in itali<sthat does!91!
makea word partnershipwith the key word. Checkany
unknownwords in a dictionary
1 a / an
aftractive,aveage,basic,campetitive,
genercus,grcss,incenttve,monthly,net"
statting,substantial
) a --sab\
..
h;-
my aptop.
Seepage150for somediscussion
topics.
73
The pievious two units coveredrecruitmeni,salaN and benefits.Theseare the coreareasof human
rcsources(HR). Brt therea.e a whole vadet_vof other norkplace issues,both big and sn.ll, thai HR
mana8ershare to deal s'ith. Small firrns often sort thesethhgs out inJormallv,but in a largeorganization
a uion rcpreseniafi'emight becomeinlohed. Most of thseareashale legal requnementstliat HR has
to noniior and ihe papenr'orkrequired for this mav be a ia!8c part ol the irork of the HR department.
W O B X I N GH O U R SA N D O V E B T I M E
T h e s e a r e L r s l ay c e a r n p r i n c p e b u t w h a ta b o u la s t u a l i o n
whefe there s too mlch unpad unoilicia overlime? And is t
aways c ear whelher train ng and lrave count as parl oi lhe
iob and whelher working unches colnl as working hours?
HF cou d become very unpopllar wtii oiher managers rf rt
taes to enTorcethe rlles in lhese areas loo slrclly
bLnwhnr
Leove dnd dbsen.e Agan LheP.n(pLesarc cea
dav5lwhat
lrl
reels
cokrerfterforsevera
hrppc.5 when a s.( ch
happcnslsorcone s msng wo I be.alse or sc 'ous pe'so'a
p.oblcmslWhat hiPpe.s f everfonewtrnl! 10 1akelner ho davsm
ihe samenme . the slmme rn.l ihe e rt ro-onc eft n the ofllcel
What lripPe.s 'i t hr! bc.ome the norm lor PcoPe10 lcile worl
ea-y on Frdal ate noon bui .o$ fie ncw CEQ doesnt !kc t
and wi.ts HR to do somelhng abod tl
Health
and safety
r
,\
'
. r
.i
. r r : , i r r r , l i ! i : i l r : i : l : : , i: : _ r '
' , i I : , , _- ._ ! : , : l r r i
: ..- !,ii.
ri
r i , i1 r , i l r
): : ,: :.
GRIIVANCE
PRoCEoIJRtS
An empLoyee
may
have concernsor comptajntsabout thejr
work,emptoymeni
terms,workjrqconditions
or rtationships
with coLteagues.
If so, they
nraywant io discussthem or bdnq thern
fornrattyto the atierhon of HR. Theywitt
expect NR to addrcssand resolvethese
gnevances.
k tlre prccedurcfor dojngthis
: , , u , " ' r l " r l ' P " Jrlr' u ' ' ' l ' r r 'r?' r ' ' h c l
.'I",,, r" '"ri' I
i."."",''"'','" '''|l"'"" 'r"'."'
'l ^ 'n
rrr'lr'r'' lrl i
q"..'
" ""
".u',t,c"
i\{r:. IloN are ilNse rvr rngs gtrcr':
'1
"
)
t
,
d c cd . . j . . r d r . o r . n f r . t r , c . tv \ ! c r r t r ow o l k l o r cbco r p j
r h . i . r . c u n e . r ! i r ' o u r c .w
t i i . r l r h r . r L e . . . t , i r r th c r c m ! f r
D . . o r n r n c f (b5. h f d p . . / r . 5 b . L l i \t h , l , 1 h . ! . r r , . r o rn r e l o b
r , 1 . ,!
Drr4rl lr: r I
74
Work-life balance
hoLr9or ob
lor workinqflexible
Arcthereopportunilles
ro
\ n d l n q . l n r r m , g n lb F r r r o o ' i a n l
'otseo-e ^c-r'0
35 I55UESIN THEWORKPLACE
Exercises
35.1 Find a word in the text opposite that matchs each
definition below The words appear in order: Iirst down
the left collmn, then down the right.
1 an organzaton that rpresents
ihe workers n a partic! ar
Inousrry
2 ."leoeooeobF)" lFo ds
3 a periodol tln whn you re allowedto be awaylrom
work
4 (alwaysusedwith the )what s lsual, averagor expeCred
s fixed by dw
6 the practiceol keepingrh nqs aroundyou c e:n
1 (twa watds;idiom)da somethnq quicklyand
r a r e e s s yb, e c a l s ey o u w d n l l o s a v e1 m eo r m o n e y
8 b h a v o uw
r h i c h s d e b e r a t e yu n p l e a s a fal ,n d w h c h
calrsessomebodyto tel upset
9 i n g h l e n r n sqo m o n e
or rhrcalen qto hultthem,
e s p e c . l yr f t h e y ' r es m dl e ro r w e a k e r
10 fhvo words)rnonyrhat a coLrddecldesEhoud be
givento someonbecdusethey haveluflered harm
II
something
out nformay
a unon represeniat
ve
5 becear
6
7
8
9
andresovea grevan.e
the fLrles
nrictly
warnngsto an mployee
dpped
gve
promote
dddress
2
3 healthand
leqa
5
6 qross
(^maihinn
seepage150for romdiscussion
topics.
Honanfesources 75
Verb fons
o t a b a n t . B e c a u coe m ) I n l e - . h r p { h u ' l p l d c e m e _ . ) l
knerv more or less what to expect in terms of the woiking
enliroment. I spentfive yearsthere,learningthe business
ed was promoted to SeniorAnalysiin my late iwenties.
That time in my ljfe was really
hectic I was iiving ihe life of a
qpical young, singlepersonin the
financialservicessecior I worked
haid and partied hard. I ofien
stayedat the officernfil eighi in
the evening,and was exhalsted at the weekends.By the age
of thiltl' I was bumi out. I neededsomepersonalspaceio
decidewhere my life was going, and I decidedto iakc a year
off.I gaye in my noticeand quii myjob.
I had savedup quitc a lot of
money from ihe job in thc bank,
and so I was able to go ilavcllinS.
I backp:ckedmy r!.y around
India and South-E.stAsiannd
had somecr.zy timcs. Bui I knew
that I had io settledown one da).,and I wanted to start a
family.So I cnmc home and staried to look fof work a8ah.
I .eSistercdlvith somc onlinc
employmcntagcncies,and
thcy found a vacancyalmost
inmcdiaiely. It was in a
similar tield as before,but
lesshigh'pressure
36 YOUR BACKGROUND
AND CARER
Exercises
36.1 Finda word in th text oppositethat matchseach
definitionbelow.Thewords appearin order.
1 ettersor numbeEth.t showthe qualityof a nudnr3
2 fhro r1'ords)
thingsthata nudenrdosat schoolor colleg
thatarnot partof the course
3 (phrcsaiveh) eft lniversty beloreth (ourte had fnirhed
moneyq ven by someone,especi.ly the qovernment,for
a p a r t c L r apr l r p o s eG m a r t o s c h o l a E h i pw, h c h o n l y
refu to moneyfor study)
a courseoi nudy at a university,
or the qualifcaton that
youger
6 a studentwhoworksin a job in orderto getexperence
7 reatingto th!k lsyouneedfor a padicuarjob
8 fphrasal
verb)continlrngto do a job or a cou|safterthe
expected
timeof leavng
yourstudres
9 completing
at universty
andgettinga degre
10 busy;
lul ol actvny
11 (twowordsJ
verytiredandwith no energybecause
of
workng too hardlor too lonq
12 (fau wotds)lo d my erilployerthat I wouldbe eavingmy
job soon;resgned
'J
ra\e ed lor opd,.ra.$ rho-lr-cf _no-e).
carO'ng
everyth
ng needed
for fe in onebag
14 (phtasalverb)
sla vinga quletlife n oneplace,especially
wnenyougel marrred
36.2 Make phrase!by matchingan item from each
36.4 ComDlete
the sentences
with the words in the box.
Allthe words are usedwith'career'.
chasen concentrcteon
oppanunntes ptonEtnq
1 Youcan
a qoodcareerfor yourself
asa
l.wyer Butyou'I havto worka ot. Forthe nextfew years
yo!r career,
notyour
socal life.
careern financewil
4 PF!. b,ig!'l yo.n9 Tdr !^il'
"
very
tookadvantage
ol the rnanycareer
avalabein lT prolectmanagement
andwentrightto the
top of hrprofession.
36.5 Completethsememoriesby putting the verbsinto
the corrcct{orm: pastsimple,pastcontin{rousor past
perlect.
,)it remember
thatoccasion
verywe - t waswh e I
,
l*o,k) at Omnte t was n the
(iust/fii sh) unch(write)a reportal rnydesk
(get)an SMSon my mobilephone- it
{ " s l o r . f e a o h u - u r cg g e l o j .n / r r r g _ l e r o d l r ' " r
I qet a p a(e-------\
--at
2 drop oui
throughcolleqe
un versity
3 workyourway
( l s i e n )a n d t h e n '
5 beshort-lsted
a vacancyalmon immedidtely
7 regster
8 lind
wth an on ne agency
2 alternativelyf
(be)verysurprised
bec.useI
(not/contaci)any
agences
likethai
(wat) untI no-one
.
(cai)them l'm sureihey ro
(wait)for
my.. because
iheywereimmdiatly
veryfriendly.
They
(aready/ findout)a or aboui
me by doing a Gooqlesearchon my name,and that they
_
''
(*ant)tohdvedmeetngwihm..'."
s e e p a g e1 5 0 f o r 5 o m ed i s c u s s i o tno p i c s .
77
Your company
n'Len you descdbe you compmt you may choose to give
a briet infornal introduction or a full, fomal p.eFniation,
depending on the contexi. the five headings below cover the
importani areasto include nr a tull presentation.
:l Market
Talk aboui the comtries jn which you opeiate. Also ialk
about your tlTical customers {for a siddard prcduct) or
clients(when the produci is specialtytallored).This may
include a reference to the market segmcnt in which yo!
r.lKey numbers
Key ntnbers include your amual turnover (= rcvenue),your
netprofit after tar (- netincome),and yourmarket share.For
an intemationalcompant breik down thc revenueaccording
io regionsor countries.It's also inte.estint kr know which
Linesconiriblte most to your revenue.
SWOTanalysis
STRENGTHS
of the company
WEAKNESSTS
of the company
products:quatjty,vaLue,
retiabitity
promising
product
pipeline
process
modern
manufacluring
equipment
andefficient
eflicientdistributionneiwork
strongcashfLow
snaltrnarket
share
weakbrandimage
gapsrn product
range
poormanagemeni
informationsystems
insufficient
satespeople
lowspending
on innovalion
andR&D
morat,
commitment,
teadership
0PP0RTUNITIES
in the market
THREATS
in the market
majornewcontracts
growthin the o(istingmarket
devetopments
in technotogy
competito19'mistakes
partnerships,
agencies,
distribution
78
cnan$ngconsumer
tastes
slovrdown
in the economy
< '..p(< .f 4.i(tinn
.^mncr
^r(
entryof nwcomptjtors
potjticat/ teqislaiivetrects
a shotageof keyrdwmatnak/ pats / conrponents
37 YOURCOMPANY
Exercises
37.1 Finda word in the text oDDosite
that matds ea<h
definitionbelow The wordsaDDearin order.
1 eventsthat markan moortantstaoen a orocess
2 organiznq . companyn a differnt
wayto maket more
effcient
3 (twor./otds;
finance)
Ihetotalvaue of a company's
sharcs
(= nLrrnber
x theirmarkerprc)
of shdrs
4 cor.panies
ownedor controlled
by otherlargrcompan
es
5 a shortdescriptioithat givesthe main deaswitlrout
e x pa i nn g a t h e d e l a s
6 fawonords) th nqs th.t helpa cornpanybe more succesttul
tfran ts compentoE
11 thelevelofconfdence
andpositve
feelings
that
peoplehave,especia
y peoplewho worktogether
12 the hardworkafd loyaltythatsomeo.egivesto an
or9anrzatron
13 (two words)a siuationwhenlew newbuye6canbe
14 not h.vingenoughof somethng; ack
37.2 Makephrasesby matding an item lrom ea(h
produCl
2 product
3 a siandard
5 R &
ranqe
SWOT
d strbuton
cosl
s!bsttute
annual
6
7
8
9
10
proced!res,
andw.rehousing
andinstaledcomputerized
inventory
systems
to inkthe stores
to thefactories.
All of
thismantthattheywereableto respond
veryqLrickly
to
changes
in 5
D!ringthe 1990sndrtexentered
a steadystreamof new
markets,
andby 2000hadcovered
Today,
mostof ELrrope.
Zara: present
1nover70 countres,
with a networkof
1.200store5
i. 7
in majofcities
ForthewholelnditexGroup(whichncudesMasrmo
Dutti,PullandBear,Eershka
andotherchain,annua
3
isaround10,000m lioneufos,with a
nete
of about1,000m llion.Theiotal
relarlareaof theGroJprsapp'oa(h19 2.000.000
rqJ. e
metres.
As a measure
ol the company!success,
market
capitali2ation
hasinc.eased
by 200%sinceit waslid
quoted.
Pldns'or
the'utJrcincluopo
in theAsia'Pacific
Region,
andthe openingof more'Zara
Home'stores,
sellingbedrcom,
baihroom.nd livng room
products.
seepage150for somedis.us.iontopics.
advant6ges
79
55 I woik
80
3A YOURjOB
Exercises
34.1 Finda word in the text oppositethat matcheseach
definitionbelow.Thewords appearin order.
1 (fwowords)ihe thingsthata pe6onor organization
has
donein the oan whichshowhowwellthevhavedone
2 (phrasalvek) p'eparcsa ff tten document(e9a lin, plan,
3 be in chargeof a grolp of workeGandcheckthattheir
wo l i. donFsaikractory {- supetube'
4 (phrasal
verb)off (i.ly agreeto something
5 exchangenformation
sothateveryone
knowswhat is
nappenrng
6 ftwo rvords)
the process
of worknq with . lot ot numbeE
andcalculating
resuts
38.2 Underlinethe correctwords in italics.
1 A job that s chal/enging
/ demardlrgs difficult,buralso
nterest
youhaveto usea lot of sklll;a job that
ng becaLrse
s challenging
/ demanding
needs.lot of yourtimeand
attention,
but isn'tnecessarily
etherdifiicultof lnteresting.
2 fhe pftase'mylinemanager'l'mybosr'couldbe a little
1{o'ral. p..Tic-la'y f rhal pe.sor5 pre,ell(egbe,!
ntroduced
by yo!),so inneadwecan9ay'mylinemanaget'
3 Thewordcol/eague
/ coworker
is morccommonin Europe;
the \\atd calleague/ cowotkeris morecommonin the lJs
4 I6e watd caunteeaft / opposifenumberrefersto someone
with the samejob asyouin anothe.ocanization;
theword
I appatiter,Jrber .rlayhaveLhesanemeanrng,
carnLerpan
y usedfor sorneone
but is a so common
in yourown
organization
who hasthe samejob but in a differentplace
(ega dliferentcountry).
38.3 Complete1-3 with endingsa-<.
1 lf yougef downto a iask,yo! ... ll
2 lf yougef on lvdha task,you... r l
3 lf youlufll a task,you.. . ]
a complete
it successfu
ly.
b startdoingit sefouslyor with effort.
c contnueafterstoppinq
for a shortiime.
38.4 Make phrasesby matding an item from each
II .:r"--\
taKE
J OVerSee
4 h.ndle
\
\
on top of thefiling
a backseatfor a while
nitialcontactwith a client
5 keep
incoming
calls
Youandyouriob 81
N,4C:
Mauf ce C:ssidy
cP Peo Mdur." tt..r.cprrFD","/p"".r,
N,4C:
Ce ne - how n ce to harirom youl How are thinqs
CP Fne, fine. Malrice s th s a good l,nreto 1: k? Are
you in the nr dd e of something?
N4C No, now is good lun et me c osedown ih s
d o c l m e n tl ' v eb e e nw o r k i n go n O K w h a t c a nI d o
Connect lhe.aller
Ptease
hald while I try to.annect you
l'!t try het nunbe. tar you
CP: S!re.
MC OK, leaverl w th me I cdllyou tornorrowafternoon
CP: Great I d appreciatethat Thanksfor your tlme. By.
N o l i . c h o w M n u r i . os l . r r t sl h . c o n y . r s i t n n i n n h i e n d l !
w . r y . r lti n . 3 .
Notic. how Crlinc chc.ks thni ih. olher pdson h.s Irm
Noticc nt lin. l'1 how Celnlc lses n irc.l t.nguigc
(ic pisl f().nrs:rrrr,!l,rlrl.!rr) n) encouragt NIC k) gire
i n l a n n r t n r l s h ed o c s nt h . n t h i n r n ) i e . l u n d e ra n !
Ii the scconddi.logue bekN Vonila phoncsr compinl n)
isk aboul lhojr Nr.ket kseirch sc^ ic.s. Sh. speiks fin n)
R e c e p t on G o o dm o r n n q ,I C TC o m m L r n c a t o nT5e r e ! .
s p e a kn g . H o wc a n h e l py o u ?
N / o nk a :O h , q o o dm o r nn g I d k e r o s p e . kr o l o m e o n e
n yoLrrmarketresear.hdepartmenr.
Re.eption6t:Can haveyouf name,p edse?
Mon ka: Yes,t\ l\4onlkaWeber
R e r e p t i o n i rOt :K , M o f k a , p e a s eh o d w h t r r y t o
GlanfrancoMdrket Relear.h Granfranco
speaking
M o n i k aO
r h , h e o M y n a m es M o n k a W e b e r f r o m
sprinqerVleda and 'm ca ling to aska fw quesrions
aDolrlyo!r marketresearch
servces.
G anfranco:Of colrse, Monika.How an helpyou?
\.4onka: d like to know .
E2
I L"1a
o\o.o
h.a
.d.-
Dapt
^.1t
Exercises
39.1 Covertheoppositepagewith a pieceot paper.
Now try to remembefthe words below (Thelan letteE
have beengiven.)
1 Heo Maurce, s s CelnPerez
g
2 Ce ne how
youl
e to
r from
3lsthsa
d
e t o i a k ?A r ey o ui n t h e
something?
4 lust et rn
se
wn thisdocument
l'vebeenworking
5 The
on I'mca ng s
seof thefrrslquarter
6 Thesalesrepo.tdoesn'tgiveanyxplanaton
for that.
ghl you ght havesomeidar.
7 Can
t
ck o you(= contactyouagain)tomorow
8 OK,
veit
9 Grat- l'd
th m.
arerhat
: irno*yo,rl"
n,ii'.
",",l,ilJ
nrorm'tion?
Readthe diaoqueson page82 a oud.Do t by yo!6elf or wiih
a colleagle(changnq roesat the end).Practseseverat mes
Telephoning 33
Telephoning - messages
In thedialoguebelouthecallcr(C)i{dts to speakto
(R)iakcsihe
someone
who isn'tavailable.
Thcrecepiionist
R:
C:
R:
C:
R:
CT'Tresa
speakng. HowcdnI hep you?
'd lk to speak
pease
to Stefan
t pska,
'lltryhisnlmberfor you.,\_\.\lleo?
H eo .
'm not qettinganyreply.lun bearwith mefor a
moment
wh e ltry dnother
number
c:
OK
'm sorry,'nr nol h.vin!
c:
c:
or ine metn9
C Thankyou.coodbye
Noli.f hor{ tlrc ..r11(r'.l,rfifles lhe spclliig b\ !snrg i pl.c.
C:
S:
C:
5:
C:
Sr
C:
S
c
r .
H e o , c a n l s p e a k t o s l e f : n L r p s k ap, l e a s e T
6149
OK,sotlrat's
EllaVogeaar
on 003120 5126149.
That!r qht.
Anythrng
e se?
No,thdtSa . lun askh m to.all me:s soonas
possble lt'san urgentmatter.
5 : I understand.
I mdkesurehe getsthe message.
c Thankyou Goodbye
5 : GoodbyeThankyoufor callifq.
5
C
5
f
40 'ELEPHOI\IING- MEssAGES
Exercises
4O.1 Coverthe oppositepagewith a pie<eo{ paper.
Now completeeachsentencebelow with a verb,
a preposition,or both. The longerlinesarefor verbs
(out of is
and the shoneronesare for prpositions.
one item.)
bear
nust
call leave
need put
let nake
read speak
Askfor information
5 (caller)
r.a
. Egypt.
(secanddialagueapposite)
9 Sr StefanLipsk.i5
the oificethisafternoon.
l0 S WouldyoLl.ero
a rressage)
1 1 S :. . . . . . .
m ej l s tg e ta p e n .
12 C: That!ihe code
the Netheands.
13 5: OK,sothatlEllaVogeaar
0031205126149.
14 CrJun.............
.....
himto callmeassoonas
15 5l l'
After waiting
2
.........
Explainsomeoneis unavailable
3
..
(fhe phrases
you need)
16 Can
you
......................
17 Sorrysheb......................
anothercall.
18 Letme
...................
-.-. that
hold?
to you
Telephoning 85
QI
(fl
li ihencxtdialogueErikhassomegoodnewsfor M.ria.
E: He o? Maria?lt'sErikhere
Nl: Hi Erk Niceto hearfromyou.lt soundskeyou're
havng . partylCanyouspeakup a bt?
E: 'm callingfrorna renauraftli'sverynoisyin here- I
(. ) can youhearme now?
tLrstgo outside.
M:
E Good I waslustcallingto te I youthe newsaboutthe
contract.
Wegot tl We qot the conrracrl
M : Fantastlcl
Th.t3wonderfu
go ng io paytwo hundred
E Thy're
andf lteen
VI D d yousaytwo hundred
andJifty- fve, zero?
your
E : In
dreanrsl
No,two hundrcdandfifteen- one,
l;
86
'
- CHEC(ING.CLARIFYIN6.ACIIVE LISTENING
41 TELEPHONING
Exercises
4't.1 Coverthe oppositepagewith a pieceof paper.
Now makephrasesby mat<hingan item from each
(firstdialogueappasite)
2
Conlirming
3
iliary + pronoun
7
8
Keywords(asan echo)
9
Showingpleasure
5
6
Askingfor dtai15
1l
12
1 tsarealy
b r e . k r n gu p .
t0
3 dLdnl
4 We got
5 Thanksfor
6 lraveto
(se.anddialagueopposite)
7 Canyouspeak
8 'lljustgo
9 Canyou
10 Whatexactly
11 Letmetrn
12
13
14
15
16
Areyousaying
tvy battery
We'rgo ng to
l giveyou
Thanks
go now
bad ine
conlract
Gfeiil
wd , 'velearailat iley're
moving
alltheirproduction
to
Belorewe fin sh,dldyo! know
thatbura hasbeenpromoted
to Marketng D rector?
so wrrit vou'ri siv ng s that
goingto be
saLes
areprcbably
belowtargetth s quaner
5 Anyway. oof.deverylrhere
butlcouldnlfindth
USBstckwlh rnypresentaiion
on (.
41.5 Erik ends th first dialogue opposite by saying 'OK, I
haveto go now.l have another callto make'. Put th words
below into orderto make other phrasesto end a call.
1 l'll nop lo havethere.I havero seme w.ling someone
2 li'r ta king io you nice been And 'll lend the emailyou
wanied by deiails.Bye.
3 Anyway,you I won'i any keep onger 'm busyyou re sLrre.
4 ls ihere help you w th l can any,thinqelsetoday?
Readthe dialogleson page85 aLoudD o n b yy o u B e to r w t h
(changing
a colleague
rolesatthe end). Practise
several
Umes
Telephoning 87
5pakinq.
M Oh,qoodmorningMy name's
Monka Dannemann
s: Goodmornifg.lsthatMonkaDdnnemann?
M]
M:
5:
M: Thedayafter?OK,that'sno problemWhattimeare
youth nk n9 of?
5: Anyt mein th afternoon whenever
tor
is convenrent
88
4 2 T E L E P H O N I N- GA R R A N G I N G
A MEETING
Exercises
42.1 ln the telephone callbelow, Andy (A) cal15Bulent (B)
to afrange a meeting. Completethe dialogue with the
oclober
B: Whch of thosedayswouldi
A: '
T u e s d atyh e l w e n t yn n t h ?
B lhat 7
W h a ta b o ! 1t h e t m e 7 s n i n e
o ' c l o c kO K ?
A I d p r e f e ra b t . t e r ,3
Couowemake
i t e e v e ne
?
B Perfect l seeyou hereat my offrceat eleveno'clockon
T!esdaythe twenty n nth And altetuardsI hope thar you
B o K .o h ,r r
Is rnthebusnees
d (r.i - jun
frornthe Marrott
find t Goodbye
B: Yes,
theyw
A: OK,
, Andy,l'rncalng about
our meetifg at the end of the rnonth.UnfortrnatelyI
'
o n t h e t w e n t yn i n t h .S o m e t hn g
u r g e n th a s5
A D o n ' 1 w o r ray b o L rt th a t 6
8: Can we r
? Are yoLrfre the prevous
day - ihe Monday?
A: Lei nre lun check Yes,thats f ne. havean appo ninrenl
b u t l h e t i mn 9 s 3
r o ry o u l
B T h es . m et m e ?E l e v e n ?
B Good l'm io
abo!ttheclrange hop
13 not a probem for yoLr
A N o , n o p r o be m , I c a nm . k e , t o n l h e M o n d a yA c t u ay i t
BOK
seeyo! on the twenty-eghth
a.d l'l sendan emaI to confrnr.
a Seeyouthen 8ye
42.3 Canyou fill in the missing
word?
an arrangernent
to seesorneone
at a pad(uar time.especaly
for a blsiness
rnet
ng or a
R e a dt h ed r a l o q l eosn p a g e8 8 a o u d D o t b yy o l r s e fo r w t h
a co eague(chanqing
rolesal the end)
Telephoning 89
r.,.ononing- <omplaints
r . r a , e a C o no l . . n l W e p , a \ F o 1 o o o p r " \ a o , 1 9
but yolr only sh pped 80 piecs.Ihe orderwds for 100
m sorryto hearthat Can you eave l with me? 'll
ook nto it and get b.ck to you th s afternoon
C: No, I m sorry that sn t good enough.We needthose
1msLrrgenty wdnt you lo authorzthe shippingof
the m s5nq 20 piecsand then sendthem today
S u n d e u l a n dh o w y o u f e e l .B u l l d o f e d t o c h e c k
a t t h s e n d . n d s e ew h a t gg o i n go n . ' l l c a l y o u b a c k
^ r n d . r o L . .. ^ d o f c o u r s s e c a ns e ' ] dl l - e p r e c e g
aga n i necssary
C What do you mean 'f necessary'?
Can t haveyour
S
OK,Sandra,
I expectyourcallby twelveo'clockat the
laten.Goodbye.
ln thenextdialogueSandrareiunrsthc cusioner'scall.
S: Ohhelo,isthatMr ChenT
C: Speakinq.
S: Ths is S.ndraLewishere,fromShro Smcondlciofi.
calingyoubackaboutthe missng pieces
C: Ohyes.
S: ldo apoogizeoncernore,wr Chef,but I havegood
newsforyo!'vehada wordwth thewarehouse
and t seemstheysenta partalorder iheyonlyhad
80 pecesn stock.However
theydo now havemore
pieces.'llmakesurethatthe missng iternsaresentto
yo! th s afternoon
by speciadelivery
C: OK.
S: l'm sorryagainfor any inconvenience
th s hascaused.
C: OK, it's torted out now Thankyou for your help.
5: ls therc dnj,,thng ese?
C: No, thai! all. Goodby
At line l0 Sandrapromisesactionwiih'I'11'.
At linc 13 Sddra apologizsagain in a full an.l lormal
At line 14 thc.ustomer remembersto thank Sand.a,cven
though hc is probablv not \{.y happy.tsIeN.ds to keepa
good reliiionship rvith Sandrafor futu.. occnsions.
43 TEIEPHONING- COMPLAINIS
Exercises
43.1 Make phrasesby matchingth beginningol each
sentence1-12with its.orrect endinga-|. Not allthe
phrasesappearopposite.
Makinqa eorlphill
1 I m c an g n . . L b
2 We retevdth orderblt yo! only
3 Thmachne arrivedblt ther-o3
4 W en i l . . i l
5 neprnrersnr woftLnq
6 Oneof the ter.swasdarnaqed
7 lheresan ntermittent
{aut
I lhe qualtyisnt asqoodas. .
9 Yousntmea newpart.
youbut.
I1 kepemailing
12 'm lorry,that snt good ..
on th rontro panel
connection
wth myordernumber
1N0064.
to bea problem
withtheinvoce
yourorginalsampe.
llustgetautomatc
repes.
shpped80 pieces.
in Vanst
haven'trecevedthe goodswe ordered.
enough.
j blt t doesnlft
k properyts been{ neup to now
no nslTuclron
manua.
a
b
c
d
e
J
g
h
..-it
to you th s aftrnoon.
apoloqizeonc more
wth m?
5 | ned
6 l d o
8
9
10
11
12
What exactly
Sorrydga n
s n da
' I m.k
' v eh a d
a
wordwth thwdrehouse
surthe temsaresentto yolr.
replacrnent
mmedaley.
lor any nconvn
enceth s has
I n e e dl o s p e a ki o m y v e l i w os u p e r v s oarb o u 1 1 h 6 .
(lust/ havea quickword wih)
It woud be easler
lor youit we simplyissued
a new nvoice
(wouldf't?)
43.5 This senten(e relers to promiling action: l7
investigate it, tind an answeti and.all you again
tomorow. Fill in lhe missing letters to write a sentence
with the same meaning using phrasalverbs.
I
i
it,s
ito
b
t you
,andg
Readthe dialogues
on page90 aoLrdDo it by youfsef or w th
(changinq
a coLeague
rolesal the end).Praclise
severaltrmes
unt youle i !ent.
,a.ohoning- review
'm calling
I
2
3
4
5
6
7
8
9
10
connection
yourjob
you
Hownicto hear
Thanks
callnq.
Can putyou
hod?
Sorryshes
the offce
Sorryshes
anothercall
Caf youaskh m io caI me
I
s that'i'as
ltaly?
Ltrnereadthat
to yoLr.
Can justgo
thataqan?
back by
oP
o.
far
up
fat
Lp
inta
^ith
af
^.'h
I
12
13
14
15
16
17
18
'o
irst bear
Canyouspeak
a bit?
t3 a badline.Youkeepbreaklng
Wegotcut
Wherewerewe?
Whattimewouldbe good
you?
Whattimeareyouth nk ng
?
Canyouleavet
me?
'l ook
it andget
to you.
-eedro cfecla_dseewhd , goi.g
20 'lsenda repacement
specadelvery
44.2 Matcheachphrase1-8 with a phrasea-h with a
similarmeaning.
1 Yes,ih s s torrrame) here.
2 Please
wait a momeni.
3 'll askherio get backto you.
4 Woud youliketo speakto ..?I l
5 Can takea message?
6 Can justrepateveryth
nq to check?
7 Canyourepeatth.t?
8 Yes,thats rght.
a
b
c
d
e
f
q
h
C: Yes,please.
Canyoute I herthatY Sangcalled,fromseou
Hospital
lts aboltyournewheaddrug.
' can youg ve
meyournar.eagan please?
c Yes,tsY 5an9That3Y-,newword,S-A-N-G.
5 : OK,qot that And the mess.ge?
c ld liketo l. k to heraboutyournewhea.tdrug.Theone
phasethreeclinLca
ihat hasjustpassed
trias. we m ghi be
interened
in gettinginvolved
in phaseiour trias. I needio
speakto herpersonaly
aboLilth s
5 : Right6
.Y Sang
calledfromSeoulHosptal aboutthe newheartdrug.Li's
aboutthe phasefour cl nicatri. s.
c:
5 : Doesshehaveyournumber?
c:
5 : Fine.3
tomorow
- BEVIEW
II4 TELEPHONING
.r\.h.1
5 : M i a n Sa v i c e k .
N : H e o M r S l a v c e kT. hs s NikosKarcuzos
fromSeven
Seas
S h l p pn g .
5: Nikoslr
Ni Fine,tine.And in Zagreb?
S: Good.We?everybusyat the moment- lotsot new
business.
lt seems
thateveryone
wantsfruitfromCroatia
(this/
N: That'sgoodto hearLook,5
goodtime/ta k)?Doyouhavea second?
(ust/ give/ moment)while
Sr6
lfinish
(ahead)
something.
OK.7
Nr3 .....................-.,-.of yournext
keason/ca ling)because
shlpment
thatwe?ehandling.
ltl for fo!r containeE,
at the
endof November,
S: Yes,that'sr ght.
N: Wel, e. .. .....-.......-..........in a
- (thoL4ht/ might)interested
wayto savea bt of money,
S: ro
............
....(course),
Nikos,l'm alwatsinterested
rnsavrng
money.
N: We havea sma shipleavng Dubrovnlk
oneweekearlier
We havesonespaceor thatshrpfor yoJrcorrarners
S: '
. . - . (let/ jlst check/ unde6tand).
Are
yo! sayng that if we cansendthe containers
oneweek
earier,thercwil b a differentprice?
N: ExactlyForeverycontanerthatyorisendon theearliership,
we'llgiveyo- a 2voditcourton tl^eprcewe quoted.
5: r'?............. ...(ust/ go over/ again)?
Youmean
ihat f we sendallfouf containers
we will
rn midNovember,
get a iotaldiscount
of 8%?
N: Thail r ght.
S: OK,ihrtl veryintercst
ng,but I can'tgiveyouan answer
(l/ getback/you)in a
righinow 'l
oK.r,
fine.That'smuchbetter.
sendan emaito confirm.
calng.
I Thisis
B could
B at nex
B makert
5 A alternative B in place
6 A lull
I occupied
I suit
8 A will
I shall
9 A mind
B care
10 A couldbe
B 5eems
me
1 1A l
8fd
12 A Thanks
for I Thanks
for your
2 A should
3 A the next
C Hereis
D Spe:king
D can
D riext
C on next
D arrange
Cbe
instead
D insteadol
C
D engaged
C cornpete
prefer
D advantag
C
D what
C how
D troube
C worry
feels
D sounds
C
DI'm
cl
your
lthank
DNce
C
N: That'sf ne.
5 : r a- .
talkng to you.
Ni,6
Telephoning 93
sreven
rHillhopeyoutewer
Ei
This is iuslaquicknoteto asklor somehelp ve been
L-T
applying
lorjobs n Londoiusngonineage,rcies
butl'vehad
lt
no luckarall.lney iusrsendbackrhesesra.dardemals its
l
reallydep@ssing
]
3Anrvay,
l waswondeingii yo! colld hep me?ltholghtyou
mightknowof someLondon
recrulme asercieslhalhavejobs l
inlheiinanceaa Canyousendmesomefames? d realLy
l
appreciale
il
l
aThanks
io. yourhep.
]
5BeslwishesroT,Assa
]r
Ma{a
__]
I
l - w l 1 9 r " r " g " r or o . o bv a - a E y? t r o l O N O O 9 6o2n7
]
/oi I a4os[e.^s reqFsreo arrlr aycv
-1
zl leelconlidenl
thalmyskilsandachlevements
area verygood
fit rorthisiob prclie.
'Peaseieelifeelo contactmeil youhaveanyqueslions
allooklorward
lo hearng fromyo!.
Maria
- : . Novak
...:.:
:
A rccruitmentconsultantreplies:
r H i M a r j a . g r e a l t o hrer c m y o ! a g a nm
. I n e- j L r sglo lb a c k
lromvacation
in MorcccoAmazng!
2Anyway,
hanksloryouremailImhappytohep- askalew
peopleandtryrohink ol sorneagencies
youcoudny
3shalllalsosend
youa copyollhe LondonYelowPagesf lh
ral, Sotrerimes
irs brt.lfa.o.r.le- [s ve'ycomprserive
and ists oadsol agencsandolherinformalon
al i. one
DearMariia
rThankyou
yourCv wewl looklhrough
verymuch1orsendlng
I caretulyafd conlaclyouagan lnecessary
'?Peasebe awarelhallhejob
markels extremely
compelitive
andlhalwercceive
manyappicalons
iorou vacanlposllons.
3lllcan ofieranylurtheradviceof assslance,
pleasedonr
Themailsaboveusepolit,formallanguage.
Comparethem
with theemailsbetweenMarijaanda friendon the right.
Thes last two emails are friendly and informal, but note
how Mariia startsparaSraph3 of her email to Steren- she
usespolite, formal languaSewith her friend becauseshe's
94
More formal
More informal
Firstline
Friendlyopen
Reasonfor writing
Request
Offer help
Friendlyclose
Last line
l
l
45 EMAILS- BASICs
Exercises
45.1 Coverthe opporite page with a piece of paper.
Now makephrasesby mat(hingan item tmm each
45,3 ComDlete
the thre emailsbelow with wordsfrom
the box.
an altachment a5 requestd don't hsltate
do you want futther assistance qet bac* gntelul fol
grcat pleature heanngfron
please re
relation to usefuldis.ussion very imprcssed
wonderingif with regatd
1l'mwriting-\
fromyou.
!o hearing
please...
2 Please
feelfree \
furthefassistance,
I lool forwdrd \
to contactmerl ...
a Th.1l youvey mL(h -wrthrcqardto.
yourCV
for sending
i ; i;... ; i&.!.|r-tiil--..-..-...1..
I r6
7
8
9
10
11
I hopeyoir're
Thisisjusta
| waswonderng if
I'd rcaly
Geatto
sha
youcouldheipme.
hearfrcmyouagain.
sendyoua copyof ...?
appda |l.
Fflendlv clase
Secondemail
i;;
---
eqrl
.' i r".,.j gqr,er
sobi.cta.D!_BffiE_,_._,--.---.:--.:-,.:-l
!--E!Ll
Manylhanksloryourenai andlor you.kndwods. twasa
lor !s lo welcomevo! her6 i DLrbal.
Dleasure
, Im sendln!youa copyoiour
2nd pafa
3rd para
'o theExchange,
lhenwebste is
wW ditx.aoandlhishasal lhs nlomation
yo! need.
Thirdemail
ist para ---&9!4L spcl
2nd para
3rd para
4th para ---Fientllv close
5th para
--J
llwasar
lo meetyouandyoLrr
tearnn
Olbailastmonh.You hospilally
wasverygenerousand was
1stpar.
Founhemail
I st para
2ndpara
suo;e"r!-'Wlmqr rundioi|;a6
-,
l.....l
5end
e/P
youremal, contacted
llr
Abdullah
andhe sentmeIheiraccounts.llreyte
allached
here.
4th para
Notce how the bodyof the email(includinq
.questinq
and
offeringhe p etc) s lramedon eithersidebytheopeninsand
.loslngpaEgraphs.
li is rareto haveonlythebodyofthe email
wth no framing.
to meil lhreareanyissues.l'fi1
m el o c a l a m e e r i nwgi r hB h s l a ri na
wek or soto disclssalllhis?
G@dlLckwth he accountsL
Emails 95
Serrd I
subjectj
Hi Bfell
setrd
subjorr linanciaresults
m p easedto te I you thatour tfanc a resuls lhis year have
bee. very poslve woud lke to thankyoual lor yourvauable
lwould aso ike 1olake lhe opporlunlylo le yo! aboutan
imporlanrsralichange Parca Nascmentohas beer appofled
as Maftelng Drectortor grazl to repraceFitaCosta.Shewl
work lo slrenglhenolr prese.ce n Laln Amerca
This s an exclng lme 'or ourcompany.and m surelhal can
counlon yolr conlnu ng commitmenloverlullre monlhs
Goa <a-o a
(.
b ; ,r "
Give news
l'n pleasedto tellyou that
Be helpJul
Hetesthe.. yau wanted./ I veaftached
..
l'll .. / l'll get antait rightaway.
ShalL..? / Doyouwantne ta .. ?
Friendly close
Please
get backto ne if you needanynare infomatnn
Letne know if theres dnyhing elseI canda
Thank
I would liketo thankyou verynuch for ..
We done! Yau'vedanea greatjab.
96
46 EMAILS- INTERNALCOMMUNICATION
Exercises
46.1 Completethe very short emailsbelow usingthese
wotd' advance,co-operation, know, Iet, 'll, qui* note,
please,rcmind, say.
that I got youremailand
speakto Fernanda
aboLrtt whenI seeher
youthat
2 JListd
lo
tie ledn nPplrngs roTo"ow at 9dr
bring copiesof my repo.t with you.
3 Justto
you ...................... . lnar
therewill be a frrcdr I at somepointnextweek.Thankyou
tor yor.rr
Theemais above,ike the fid oneopposile,beginwith 'jun' 1o
lshow a shorrmessage.
t ' t-
Announcinggood news
t h np1:.?:,:!...!P
.le!Lv-ul!i!,
Announcinggeneralnews
3 .-.....
.
4
5
Thanking
Emails- commencial
ln ihe exchmgeof emailsbelow a custome.makesan
enquiry md the supplier replies:
Email 1
'.;,
!rrr.
To... nio@pot;iaacaaom
subrd: qpqi' ,:o:19,p9t:,pq'l
Email 2
D a nB a e \
lo..
slbjecrr r.io re powerpacks
| _ r'.ar -q a doc--e l -. 9\es
lu delas ol ourrangeoi powerpacks
Canldrawyourallenlonro modesFC68andFC72?
These
wo! d be dea Jora srnalhandheld
devce
I wourdwelcomeie opporlunry
rodrsclssyourneedsm more
dela May suggesl
lhallcal you n a dayor !wo?
I n l h e m e a . l m pe e a s e d o n t h e s i l a l e l o c o n l a c l m e p e r s o n a l y
l youhaveanyqueslonsMydnecl .e s gvenbeow
send
Enquiry
t ti\tcd ,ar s?.d at
dnd ^dt np,e.s-d b)
lwauld like sane detailed specificationsfar
ln particulatlwauld liketa knaw
Pleasesend details of yout product Gnge and ptices /
discaunts / delivery times / terms af payment, etc.
Replyto enquiry
fhdFttar tar)ou! emdttot t/' tcbtuat p.quning
1n aftachinga documentthat glvesfull detailsof
CanI drawyouraftentianta .?
Ourstanclaftjtermsarc paynent within 28 days,but we
affet discountsfot promptpayment Wealsooffer
quantitydiscauntsfot large purchases.
We can shipwithin one weekof a ftrm arder
1would welcane the oppaftunityto dtscuss
yaur needs
Wehape thatyau find au quotatiansatlslactotyand
laok farMardta rccetvingyour arder
Please
dan t hesitateta contactme persanallyif you
haveany questions
Placing an order
Follawingour rcaentcanvesations,pleaseflnd attached
ouronet na.... rcl
,n srccl.please
ll lou doaI navph. trcmsteqtresred
adviseusinnediately.
The gaods nust be deliveted by
canfim yau delivety date.
Email 3
!
sond
lo...
subjert
S a e sd e o a r l m e n t
order lor modelFcT2
pleaseiindalbchedour
Folowng olr rece.rconversalons
o.derno JX034tor25000ile ce s modeFC72
Weagreedthalthegoodswi be senlby sea(ClFB!san).
seclreypackedin 25cases01l 000 lemseach
Thegoodsmuslbedelveredlo Busanporlby 24Apllal lhe
ll anyot thesecofdtonsarenolmet.p easereieflo lhe
delaiedtermsInourconlracl
toraclonsthatweareenlI ed to
Wewl payby nrevocab
e ellerol credl Peasesefd copiesoi
theshppn9 documenrs
a.d lnvoiced rectlyromeas pdlllles
Please
acknowledqe
recept otths order
yo!
Thank andwe ookfotuardlo dong morebusiness
wilhyou
98
Please
a.knawledgercceiptof t s odel
Shipping an order
Thegaodswill be sentby sea/ an / road/ rail and wil be
secureiypackedin baxes/ cases/ .rates.
Welook forwatd to doing morc business
with you in the
47 EMAILS- COMMERCIAL
Exercises
47.1 Covrth oppositepagewith a pieceo{ paper.
Now try to rememberthe words below (Someletters
havebeengivn.)
l lvsitedyourn
at the Enerqy
TrddeFdir
2 | p ckedup a bro
e at the fair,andwouldnow I ke
somemoredtaledtchnicalspe
s for
yourra
ot fuelce s
3 In p
r, I would keto knowaboutpower
packssu
le for a portabeDVDp dyer.
4 CanI d w youra
ion1omodehFC68.nd FC72?
5 In the ma
me,please
dont hes
e to contactme
personay ii youhavanyquenions.My d
1
I e s qlvenbelow.
6 Fo
nq olr recentconversatons,
please
I nd
a
ed our ordrno.JX034.
7 Thegoodsrnustb d
ed to Busanportby 24
Aprilat the I
t.
I lf anyof thesecon
ns.re not met.ple.sereferro
the detailed
t
s n our contract{or actioris
thai we are
9 Please
sendcopesof thesh
nv
o rccIyto me.
10 Please
ack
edgerccept oi thisorder
47.2 Write one oI the setr ol initialsin the box nxt to
eachphrasebelow.
PR(producttange) DT (dehverytnel
PD(prices& discaunts) P (paynent)
1 c F Eusan l'j )
2 the goodsmustarrveby . at the latest
3 av. abe in sx colours
byb.1l rans'erto ou dL(onr 'JrbF'
5 trr"'F^rl bean add,to.alupple-1e1t'o.
6 the executivemodelfeatures
7 we w ll makea promoiionala owanceif you ma ntain an
8 we offerverything
from to ..
I latepayments
wi ncura per'ralty
of
t 0 w a ^ . h o ^ r l t . n t 0 $ o . t r . g d d y (o l .
1 1 o r ir -io J<Fdes,gn edr hdsd"valoped
1Z letterof credt (l/c)
1 3 y o u . a n t r . d e i n y o u re x i s nt q m o d e l a n dr e c e v eu p t o
1,000c.shback
14 payments 60 d:ysafterinvoice
15 a depositof 25% s requredfor ..
10...
Sals
s o b j . d : O r r c es l p p r e so . d e r
andam nleresled
n orderngso.ne
n p a r l c u a f , I n e epda p ear n dc a r t d g e sl o rC a n o n
pholocopers
andvariolsma .g andpackaging
suppes
'
d e s ka n dw a c a . d a rw
s l ha
companyogo bur wouldneedsorneassurance
abodrlhe
Yourflces areshownon lhesite bulr
payhenrrermslor argepurchases
andexlended
Peasesend
l l o o kl o N a r dr oa ne a r yr e p y
10..
sublert
[/'cheLe
Younc
Re Officeslpples order
Emaile 99
Emails- customerissues
In the email beloa'a supplier is forced to giee somebad
news to a Poienhalcustomer:
5!rd
Td... !11!!rg!?kq
subje.1: V6l lo osak"
P e f i oC a s .
b...
subj?.t:Compa,nl
subjdl
R,Coirdlrfr
m verysory lo hearlhatyoLr
!e hadprobemswth youra I
conditiofng syslem.
WeI be at you officetomorow1oJI new
lndersland
y lharyoLrre.epto.areaneedslo be or
complele
therrgrreslslandarda.d canassureyo! lhatwewil eavelhe
Onceaqan,peaseacceptmys.cere apoloqieslor
any
100
48 EMAILS- CUSTOMERISSUES
Exercises
48,1 Rewrite the sentencesblow with the corct word
oder, beginningas shown.
1 l'm to tellyousorrythat I haveto postpone
nextweekour
meeting.
t'm
--*--'
-- -------.l l
2 Onceagain,p easeapologies
for acceptmysincere
any
inconvenience
caused.
Onceagain,
3 l'm ordered
to tellyouthatthe itemsarenow in stockyou
pleased.
We'llyourorderbeshipping
today.
possible
4 l candorngeverything
youthatweareto
assure
resolve
thisissueaspossible
asquickly.
lcan
5 You'llbeextending
our onlinesalethatwe arepleasd
to
hearforanotherweek,
You'llbe
6 l'vetalkedto the involved
staftandl'm confident
thatour
proceduret
arerobustandprcpey working.
l'vetalked
I Thank
verymuchyouto myattention
forb ngingthis
maIIet
Thank
d End
nn
,i.:1.
-oor.6
rd-6,o,o)o-.0. odF
brqro,
6p
_
Tt" ",t le,oL.
n Chinawed be verypleased
ifyoucoLrdvsl ourcompa.y
ll woud bea grealoppotuntyloryo! lo lookarolndournew
Guest accepts
Than(youiorlheknd nvlalon1ovisl yourcofrpany d be
very nterested
in seen9yourlacrorya.d seenglhepoduclion
n lacl l lbe . Chnatorn lo
Peaseermek.owir anyol
thesedalesareconvennl
loryou
Howdoeslhs soLr.d?
Pleaseerrneknowwharyo! rh.k
A so.wed be happyto arangea ocalholeloryo! il yo! w sh
Guest replies
Thankyousomlch iorthecarel! tholghlyoupotrntopla.ning
an lferarylorne ll looksiine lheresi!$ onesrnarchange
tharrwo!d suggesl
n relatonto theho{e. fnakemyownamngemenls
ooktoNafdverymLrch
lo seengyo! if ..
102
Exercises
49.1 Completeeachsentence1-8 with the best ending
a-h.
1 lt wasa gre.t pleasure
to ... E
2 We'db verypleased
if I
3 I'd beveryinterested
_.
4 I'vepurtogether
s A driverw I pickyo! il
6 A driver
w ldropyou. . !
8 l'l needto freshenup
a
b
c
d
i I
a provis
onaliiiner.ry
at th hote f rsr.
n seeingyourfaciory
meetyouin Germany.
at
ln
5
6
7
8
at
in
frc-.way past
at,
!
abourfourmlesunriyoLr
come
lo a argeShelgasslalononyolr rightYoucant
r g h li u s 3
t
l h eg a ss r d 0 na n dk e e pg o n gs r r a g hor l r o f l c e s a r e a
shorld sla.ce'
yolr ngnr
Whenyoua(ve arthe"
gare.Seclrty
willgiveyouavislorspass '3
theroao
rou.dto lhemainreceptonwherehereis a vislofs parkngol
Whenyooqetio receplio.iuslask ,
ne - fteyllbe expeclng yo!
gve mea cal
lr youhaveanyprobems.
't
rnycet pnone
younextweek.
L@knqioeard to meeling
Emaih 103
Emails- review
50.1 Fill in the gapswith verbsfrom rhe box.
appreciate .antact do
atter pastpane renind
teel
shal
hesitate know
take wonder
**t
1 Please
.. .
freeto
me Tyo! lravednyquestons.
we reschedule
th metingJor
|
..
if yo! could glv me some
inform.tion?
lf I c.n
..
any further adviceor
pleasedon't
assrstancei
to cont.ct
lust a qLrcknote to
yo(] that itl the
end of the quarterand the saes figursare dup.
Let me
it thres anlrhing lre can
the
opportunity
to tellyouaboutan imporrant
staffchange
8 | would
yourhep with rh|5.
9 Please
that I will be awayircm the
officelof thewholeoi nexrweek.
10 'm sorryto tellyouthai I haveto
vsit to yourofficesnextweek.
b Twophr.sesusedaspad of a request
II. l
c Twophrases
usedfor makinqaffangements
L i I
d Threfinal,frendy comrrents
li
Now do the samfor sentences11-20.
e Onephraseusedin d customer3
in tia enquiryI
i Threphrases
usedin the supperSreplyto this nital
enquiry i i
g Twophrass
usedby the cunomeraftertheyhavedecided
tobuy_ i
h Twophrares
usedby a customer
asp.rt of a complant
i Iwo ;hrasesusedbya supper aspartof a replyto a
50.3 Completethis internalemailandthe reply with the
Continuear before.
subjp.(:
...
lheO. neMaderngsem.arhavenowbeen
rl wl lake plac. on 28 Apr
ThrsI
rneedlo k.owapproxmat
numbers
asap
lo meon lrrs by theendot nexrweek
Thankyo! lor your3
quaniitydiscounts
lor targe
17 must
..
thatyougiveihismattryour
urgentattention.
18 Forluirher nfoffnaiion
please
onthe
linkbelow.
19 Please
.
.....
receiptof thisorde.
20 Please
.
.....
mysincere
apologies
for any
nconven
encecaused.
M'q ,"
-a ls of
Youvr!
l h i sW e l d o . e
| '
"
..
thepdlto everyo.eco.cernedand
lhaleveryone
knowsaboltit
Canyou I
...
meilthereis any imt
onnumbers?m slre lherewiibe a otoi .lereslin our
T h a n kasg a n Y
. ouver!
r04
a l o l o f w o r kn r o o r q a n i z n g
...
agreatlob
50 EMAILS- REVIEW
a
b
c
d
e
f
9
h
Thanks
for askingme.
Goodluckwith everythingl
canyou,,,?
Please
contactmeif ...
Reyourlastemail,,..
l'l get backto youvery5oon.
Sorryabout...
Following
up yourea iercall,...
Let me know f you canmakeit next F day.
j l'd loveto come.
k Thanks
againfor allyourhelp.Muchappeciated.
I Justa quicknoteto remindyouthat ...
m l'veattached...
n Please
sendme ,.,
if you@uldhelpme?
youa copyof our
l'm sending
2lwas
3As
accounts,
usconsiderable
4 Thishas
our recentconveEltion,
flnd
olease
attach
ro oJr
motebustness
youin thefuture,
for
to
job vacdng/
I l'm writing --@
Egard
ref.no.TH729.
job vacanq
I'm writingrelation
ref.no.TH729.
3 Nlanythanksallyourhelp.
I wou d be gratefulanyinformationyou have
on mts,
Havea goodlookat the reportandgetme if youhaveanyquestions.
DHL,IJPS
or FedEx
as
to learnaboutthe late
delivery
oI the pansyouordercdfromus.
11 Thankyoulor
backto meso quickly.
12 We are interestedin
from Fairtrade
organizations
suchasyoulselves.
I have
a copyof our brochurc.
14
to us.
Emails 105
Presentations- opening
Thereai a greatvariety of presentaiionconiexts:
Col p.., pr.'pnrJ
m i u r p r o d L .r s .
harkets, plans for the f!ture).
. Produci prescniation(featuresand bencfiisof a nei! p.oduct).
rL Internal presentationreporting financialor salesfigu.es.
a Internal presenlaiionanalyzinga problem and sugteshng
1r Welcomingvisitols.
' A - \ , ' ( r . . o r h e r F \ n - - p F a lc l l . n t t h h . rm , . r u r 8o r .
1I additioll, dre.car. a \,arieiy of presentaiionshles:
/:' formal, sfructuled,rehearsed,iaking qucstionsat thc end.
/r Info.mal, partly improvised,interal:tint {'ith the nudrence.
4, Somewherebchrccn ihe h!o: using a basicstructurc,but
alownrg occasionalopportlnities for quesiionsind inte.action.
Which style yot usc dcpcndsnot onlv on your audiencean.t its
cxpecLrtrons,
tui.lso on vo! ard lour per$nali\r
Itcad ihe opennl8to i t'clcomnrg \isikrJ presentihonin the
n.\t.olunrr. (Th( miin body and ck)seof a prese.tationare
.ov.r.d ln lrits 52 53 )
Noii.c ho$ thc prcs.ntcr begnrsby giynrg ans\Lersto a11the
ph.ii.ii qresti(insthat nright be nr ih. aldience'smind
l c t \ \ h a t j s t h L ' . i mo f i h i st . l k ? I l o w l o r g r ! i l i i t I a s t ?l { i l l
th.r bc a IrrLIk?Who is ihc pcrn)n spe.king?Who is ihat man
The pr.s.ni.r thcn givesan outlinc of lh. siructurL'orth.
Finally,befd. bogitulnlg,the presoter makesii cl..r $hcih.r
au.jiencenxrnb.rs can iitcrrupt rliih questioDs,or kcep them
106
Audience ltreneii't
I hape thispresentationwill enableyau to ..
8y the end of ny talkyolt will
itru.ture
I ll speakfot about thiny minutes.
, .".litd"d
- OPENING
51 PRESENTATIONS
Exercises
51.'l Coverthe pageoppositewith a pieceof paper.
Makephrasesfrom the presentationby matchingan item
1 On behalf- ---\
2 cdn veryone \
: lusta few
4
5
6
7
8
9
10
'm n charge
',dtk
l' lalk
l ll move
We iocls
L'l g ve you
Let! begin
mytalkintofourparls
I oneor two peope n the roorn
k by inircducng mysel
51.4 Createdifferentways to opn a prsentation,using
the verbsin the box.
deal
autline
,ri,ii,.i
t h e i s s u o f f s k , a n dw h a t y o u c a nd o
aboutinvestmeni
funds:howto
choose
them.\,1/hen
to buythemandwhento sel them.
5
backto youon our progress
with the
6
at a varetyof greentechnologies
that
d " '"lp no ro corrballhe t! edto' qlob. \ad,rrrrg
you n on the background
to our
involvement
n the Brazianrnarket.
a ookat howwe got intothe problem
wth our ocalaqenrs
ln theUKandhowwe can
ih"t,,.(,,esLt.
lromour consumer
survey
10
sornedetaledrecommendat
ons
abouthow to reorqan
zethe department
1l
o!r newmarketrng
strategy.
12
wth the temouistdnd
ngfromolr
astmeiing:fundinqour R&Dactivties.
51.5 6 6 Speakingpracticerlistenand repeat.Repeat
eachphrateyou hearand then listento check.
,r"r",rr.aions- mainbody
'Th phrasesyou
''
... Or, ters mou" o. to rhe nexr poini, which is wmo enelgy
ieclnology. The mdkei for wind tubines. is shifiing toom otrhore
to oifslble. It might be Getu1 to give a liiile background hde. As
you cd s@ on this ncxl sLide,onshore wind fams have several
draivback: tust you ned a ieLiably windy iftatioo seondthe
l d t u Ld . . ' " r p \ - - c l p o u u d . r . a n d t l u d t n p r ea r e . o m es e r i o b
enginc.ring questions.
What are these engineering questioro? Basically rhere are two
issues.Firstlv,the stabiljtyof the struciuieas you make ir bigger md
sccondLythe problemof hai ing the bladesalways facingthe wind.
So the trend is towards offshore wind fams, ano nic are some
cnginee.ing.haUenSeshere.Have a look ar this slide it shows thc
designfor an offshorcturbine that sits on the surfaceof the sca.
It's threetimes more
efficientthan an onsho.e
tu.binc oi equivalentsize.
What is the reasonlor ihisT
Thc reasonis that it usesa
completelydif fereni design
that isn't dependenton the
wind clirection.There is a
Ia.gc V'shapedst ucturewith
rigjd'sails'mounted along
its length.As the wind passes
over thesethey act like ahfoils" and rhis gcnerateslift and htrns tho
structureas a whole.
I would like to stressthat this designis not yer in commcfcial
production,but a prototype is currently being resredoff rhc coasrof
Scodand.
OK. Are therany questionsso far? Doesanyonehavc any
atlojl:.ud&l
in thc air
r0E
Reter to visuals
As yau can seean thb nextJide .
l'd like to highlighttuvothingson this
table/ chan/diagtan ...
What]s lnterestingan thls slidels . .
I d hketa clrawyour aftentbn ta ...
- MAIN BODY
52 PRESENTATIONs
Exercises
52,1 Coverth oppositepagewith a pieceoI paper.
Now try to rememberth words below.Sometetters
I
2
3
4
5
6
7
8
9
10
11
12
Ths I
s meto my nextpoint,whichis ...
EarierI rnen . ...ned...
'll c
b ...to th s pointin a moment.
justto di
s! (= sdetrack)
for a momnt,.
Let'sexamine
this m
de
L
Letmeexpainwith d con .le ex
| th nk thereErethreequenions
to f
lwould keto st
(= emph.size)
that . ..
youc
s
on thisnexts de, ...
'd llketo high
t two rh ngson thischart.
W
inieresting
in thisslideis ..
Howdoesth s re te to yourown particular
cont t?
'
ar tns nexl
55 or, tet
s ide. t showsthe desigiior an offshore
tubine tharsitson
the surface
of the sea.
I'd keto z
. on thisdiagr.m.
Firnly,3 .......
theV*napeo
struct!rewrth'sals' mouniedalongitslength.Secondly,
thiswholestruct!recan
turnon its base,poweredby theactionof the windon the
Thisis howelectrictyis generated.
sails.
.-.......
. on thisis thatthe design
- lt'smoe efficent
is. bg improver.ent
on earlier
versons
|n
termsol energyproducton,anditk alsomorestabewith it9
so d b.se.
Bythe way, mustjult b
......that
ihisdesgnis not if cornmercial
pfoduction.
7 .....
oK, afethereafy questions
3......
No?Then
....
to the nextslide,
wh ch is a graphshownq the prciected
demandfor ofishore
windenergyoverthe nexttwentyyears.!t
n t
b t
wth
my tlnt nt
a l k t
6
1
8
9
l0
xpl n
c \ |
c . n sd r
mnt n
t..cs n
110
Pr.!'iiczl inrtlerr
t vegot samehandoutsherc.
Heresmy emailincaseyauwantta get in tauch
jnvite guestions
Dayauhaveanyquestians?
Yes,theqentienan/ ladyovel
the,e^lnhtherccltte/ the blackjacket.
Ilow if yau haveanyquestians,l'11do ny bestto answel
D e a lw i t h q u e s l i o n s
Thats a verygoadpoint / l'n qladyouaskedne that
satry canyou explainthatagain?
5a, I I understandWU caftectly,you'reasking...
Thatsan interesting
questionWhatsyaurawn apinlonT
Hasanyaneeheexpeiencedthe samething?
I thinkthat outsidethescopeol thispresentatlan,
but I m
happyto discussit with you afteruvards.
OK,lthtnkthete'stine fot anelartquestian.
- CLOS|NGAND QUESr|ONS
53 PRESENTATTONS
Exercises
53.1 Completethis extractIrom the dose of a
presentationwith the words in the box. tt is an internal
presentationabout departmentalreorganization.
genetateda lot af dis.ussrcn give the flool
taak at sane aptions nay be forced au job is ta cansider
that coversevertthing thereis the option to
the next steps somedifficult de.isi.ns w)uld lead ta
6 6 R q h rt ,r h i n k '
I haveto
....
rhat.
(hink of somethingelsebesidesundestand')
Ithinkthar's
outside
the
: of this
psentation,
but i m happyto discuss
t wth you
8 Im ...
. youasked
methat.
9 | promised
to f ni5h
t me,andI see
thal it3 nearlyten o'clock.
10 You....
qute a lotabout
. havethought
th6. Whatconclusion
haveyou
to?
1
1l Couldyoubea lttlemore
12 Anyoneiketo
on that?
l3 | dont havethatinformaton
to
Can| get
s ihatallight?
14 So,if I undeGtand
you
askrng
,.
Now fill in the gapsabovewirh rhe suggestedwofds
The languag of trends is important not iust fo. presntatids, but ako for business leporls. You may
want to des.ribe movemats in financial indicators (eg I,rofits, co6ts), sales md f,a*eting indicators
(e8 sales,markt shaie), or @nomic indi@toE (eg inbrst rats, unemploytlmt). Often this lan$age
wiil be used to explain a graph or chart
Many verbs descdbe the dtuction of movemerll
st bility andInsrability
+t\y'\+
\
tatgEr movemer{ up and
doubleI takeofl I b@n /
Jf
-l-
'#is"""""lf V
Hrhr"*.
"". "poln$
Indlvidual polnts on a
'm#,Tx!,r*'t^y
h,
I i;0,."".
Good/ bad
Ctrangein siz
o-O*o
I sales
-r-
And finaly think about the verb forE|Time pedod complete (past simpl)
satesmse W 2% last quttet.
Showirg that one pat vnt happened before dother (past pe ect)
B4oft tte cEo ftsignd ptufts had tbeady lo enby20% h'awr.
'will'tulur for geneial bliel6, prdictioB dd lads
On dt lpditors ui
now (present
All the language above Efers ro describing tlnds. In lmit 55 you'tl s some language for analrzing trends.
112
- TREI\IDsI
54 PRESENTATIONS
Exercises
54.1 Matcha verb on the left with a verb on the righl
so that they have the sanoemeaning. Not all the words
appearopposite.
1 g
2 fall
3 mprove
5
6
7
8
movh gher
eveloff
shrnk
edgedown
disappointing utouraging
enormaus
yadual
nadeate
Epid slight
rise
stabilze
fall
ht a low
Pastsimple
5 grow
6 expand
8 improve
10 vary
11 tuve
12 deteriorate
4
5
2
3
8tG
FAST
l
1
2
3
4
..
be stable
6 peak
7 staythesame
8 fse
Pastpanidple
!eILUp................9p!e..c?...._
SLOW
1
8
9
SMALL
BADNEWS
.t
54.5 Rewritethe verb + adverbsenten<es
as noun +
adjective sentenes.
grewslowly.
1 Sales
la^ 9t94!! ..
Therewas
--,. , ,r sales
2 Costsrosesigniiicantly.
in costs.
3 Prcfitsdete oratedrapidly
We sawa .-.-..--.--.......,.-, in profits.
4 Marketshareimproved
siightly.
We hada -.-.-.
- in mafketsharc.
5 Our5ales
forecasts
variedconsiderably.
Therewasa ..
in olr saes
54.6 ;ill in the miising prepositionsIn the presentation
campaign
at the startof lvarch
55 Afterthe marketing
salesroseI ........
...... an initiafigure'?
4.5m
r
es.um by lune.Thatmeanstheywentup
a
5
15olo,
tle bigge$inc.ease
saleso'ary
6
rccentcampaign.
Theycurrently
stand
a3n.9)
Note.the pteposilionin $4 6 often mrstedoL/|n rpeech.
-qe]1.4l
99
Presentations - trends ll
Unit 54 gave somelanguagefor desc.ibingtrends.But in a
Presentationor report vou will probablv alsohaye to gire
someanalysis.Yo!, nray irali b gn,e reasonsfor the hends,
to show iheir results,o. to Biveadditional information.
Rcid ll'r- p\r-.r lror in .-rr1r,lprp.ent.rri. . 1rl\/. .B
cause)
- TRENDsII
55 PRESENTATIONS
Exercises
55.1 Findand correctthe e!9 mistakein eachsentene
below.lt couldbe a missingword, an extra woro, or a
I BecaLrse
ourconsiderable
cost-cuttLng
masures
ast
quarter,
protts roses ightly.
2 Becalseof we cutconsconsderably
an qua(er,profits
roseslighty.
3 Earnngsfllby8% astyeardLreour ncrcdsed
mairdls
4 Earnngsfellby 8% lastyearasa rcsultfrcmolr ncreased
5 Diffcuitmarktcondtion5reslrled a siqnificant
declnein
6 Thesgnficantdeclinin markersharcresuted of diffcult
narKrconoronS
7 Thischaftshowsthat brandawareness
increased
in SouthEastAsia,wheret fl in tatinAmeica
8 OurcompetitoB
aregainingmafktshare.More,theyhave
a whoe newprcduct ne comng out nextmonlh
9 In spilethef.ct thatwe delayd
the l.unchol our new
o o d L ' 1 ' dg e ^ e s l
Ldd odo.ab4r.i,ril.<ryeal
]heresa goodchance
we l meetour largts.
Thersalmostno waywe meetour targets.
Thersnot muchchan(ew meetou. targets
we realmostcertan to metoLrriarqets.
There's.50/50chancewe m-oet
our targets.
salestor severalyears,
but theniheynarredto deteriorate,
(ow.y dt rrr r drd 'ro_3
li, the last year this drop in profits has been s gn f icani -
5%.
Presentations - review
s5.1 Matchthe beginningof each
phrase1-10with its correctndinga-j.
1 oK, et's.. t2 l{ youhave.nyquenions, i
3I'comeback..
4 I v d videdmytalk. .
5 Jlst to digress
for
6 LetSexamne this.
8 My own view.. i
9 OK,that'sa want..
10 Right,etsbegn ...
b gel n:rted. Caneverybody
see?
d rntothreeman pans.
f
g
h
i
j
on to the secondpoint
please
fee freeto interrupt.
to thisin a rnoment.
w1htheli6t 5ide.
to eayaboutthe frrstpo nt
Continuas before.
I I Asyoucanse
l2 beganbytelllng
yoLr.
l3 'd likeusto
14 J!stto summarize
15 Letmeexpain ..
16 Now do youh.ve..
17 Rghi,ihaibrngsmeto..
l8 Thank
yo! all..
19 Thisleads
me ..
20 Whats thereason..
4t
2\^,nru
frrR
l
First po;nr
tet s begin $/ih the fist slide
ff+,:-'
m il'
/(D1
I V4
<l-\ ,\
.AE; q I |
0(-
du
5e.ond point
6
)t
l'11came
backta thtsin a moment
8
Id likeus to focusou aftentionan
two thingson thischart
Third point
Thisleadsneto ny thid point, which
fn
{WJ
'w
e At(
p
the ndof my presentation.
the man po nteaq. n beforeI fin sh.
to myth rd po nt, whichis . .
t wth a concrete
exar.ple.
ai*>
* (
- REVIEW
56 PRESENTATIONS
at
back
an
in
an
ln
ta
This next chart shows saies for our hvo main product
lines, the Micro rdge and the Neka mnge. 'Mdrk / Noltl?
the scale on the vertical zaris/dile ii shows the number
ofrrtits/lnili6
sold in thousmds per month.
1'd like roa.lrna / ntakeyotr attention firstly to ihe black
line, which shorvs sals of the Micro .ange. You can see
how last year sales trose/ ll aoe trse 6stedttlJ
/ stetrdil! all
through the year Since ihe beginning of this year they
/conti!1ucdhareconti,lEd ro nse,3altharyh i,t spiteol ar ^
/
/
1 Takea look
. thispclure.Whatdoesit tellyou
ourcompanyT
2 l .F divdedllv l. l
foJrn dinp"rr .
3 Right,etsbeqn
... thefirsts ide.
4 LetSmove
....
the secondpoint.
5 Ths leadsme
.. . . mythirdmainpoint.
6 l'llcome
..
ih s in a moment.
( an is passiblein #6, but isn't the answerhere)
7 My own view
th s s simple.
('af is possiblein t7, but isn'tthe answerhere)
8 | h rl lLrea'erhreeqJe,ro o fo,u,
9 As youcansee
th s nexrslide,...
('in'is passible
in +9,but bn't theanswerhere.)
10 So,
conclusion,
l hopethat mytalkhasgiven
youa goodovfviw
our company.
youa I
11 Thank
coming.
12 Heresmyemailaddress
caseyouwantto get
mysell.
2
: tmghtbe
Let!
to givea tlle
In6In more
with a
' d l i k et o
1 Does
8 Right,that
haveany
sorry,canyou ...
thal
.....'.'.'
'. ?
10 ThatSan nteresiing
own. ... ........
?
11 | thinkthat'soursidethe
of this
presentation,
but I m happyto discuss
it with yo!
12 OK,lth nkthere's
Meetings - opinions
Readihc extractf.om a meeihgin a household
Froducis
company.nroine(A),Brigittc(B)andChrts(c) are
discussing
theircomplnv'smarl.iing straieg\r
A: We needto do something
radca to devlop
our
brands.
TheretaileG
arebecoming
moreandmore
powerful theybly frcn usfor whatver
pricihey
want,andsllto the publcfor whatver
pricethey
B: Absoutely.Ourprofitmargnsaregettng thinnerand
C: I totdllyagrewith youabolt the powerof th rtale6.
Afd it'snotjLrnther prcingpowr lts alsother
own abe prod!(ts.Whyshouldpope pdymoreior
(emslk oursl
branded
A: Bascay,we havto lookat brandrng
n a whoenew
way h ny op nron,we l-rave
to go byondmarket
resedrch,
beyondla krnqaboutqua ty,dndbeyond
" . e d d \ p r r ' n o l o a d n d t I n r r 9 o . d )r . d e
n e e d1 0m d k ea n e m o t r o n dc o n n c t o n
wth contumers
W e n e e dc o n 5 ! m e r1! ol o v eu s ,n o l l u s tt o n e e du s
B I nr not so slre about th:l We slldelrgnlsand
' ' o ' o ' " I o a " - o ^ F - o r o - c . p L e aL 9
products)We're not a .ompany ke Apple or Nikewho
m a k ee x c i n
l 9 , l e n y l ep r o d l c t sW h : l d o y o u t h n k .
ChnsT
c: t seems1lrme thal we haveto do sonrelhnq we
c a n ' 1 l u scl a r y o n d sw e a r e 1 n a y b e l r u e t h r l o u r
produdsaren't veryexot nq. bul we aho have10
r o d ! . r sa r ea n i m p o r t a n r
c o n sd e rt h a t h o L r s e h opl d
part of fam ly lIe, and fdm liesare nearthe cenlreol
oLiremotons Aclua y, I do think o!r advertisng could
appearmorero peopes emot ons
B OK, OK You re probaby r ght But what did you h.ve
i n m i n d ,A r t o n o ?
A W e n e da n e w ' f a c e ' f o ro u r b r a n d qA. c e l e b f i t y
Someonewho the pub c oves To put rt s mpy, we
needthe mon famols footba I player n the wond to
appedron screen,Lrsingour products.
B: Re.ly? Do yoLrth nk so?You th nk thai if a famous
l o o t b dL e rc e a n st h e r t e e t ha n dw a s h e tsh e f o o r , u sn g
our products,the pub c wil love us? | thlnk ihey w I
auqh at us,and at the footba er.
f: Obvouslyit wou d haveto be done careiully,and a
f o o t b ae r m d yn o t b e t h e b e n c h o c e .P e r h a p s f. l m
startrom romantc comedymovieswould be better But
i n g n e r aI l l k e A n t on e s i d a .
B: OK, I can sewhat you nrean,but don t you think thi5
is a golng to be veryexpensveT
A: Thatbtrue. r wil be. Blt iron my point o{ view lr3
worth t. An emoronal connectionis the onlyway to
lustily a premum price.
57 I|EETTNGS- OPtNtOt{s
Exercises
57.1 Underlinethe correctwods in italics.
1 Chris,whatl/row isyouropinion?
2 What did you havein mind/ in Wur nind?
3 lt seemrme / seemsto me that we haveto do something
we can'tjuslcarryon aswe are.
4 Frcn,ny view/ ny point of y/erf, its worth it.
5 | am agree/ t agreewith yau.
6 YouJeright / Youhavereason.
7 | agrceto a point/ up ta a point,buL..
8 | canseewhatyou meanI you?eneaning,btltdon'tl/ou
thinkthisis goingto beveryexpensiveT
9 lt may/ canbe true that our productsaren'tveryexciting,
but we alsohaveto consider
...
10 l'm not sosureyy,fh/aboutthat,
57.2 Look at the extracts from meetings below. Wrlte a
phrasefrom the box nert to a ph6se in italica with t|te
samemeanlng,8e carcfrrll
y 8y theway Howevet ln g$e,al
Actually Easica
ln nyopinton Luckily Obvioudy lhe pointis ln shon
serousssues
thatwestillh aven'tdiscussed.
, the projectis
threeweeksbehindschedule,
not two.
3
, we haveenoughtime,
Clearly/
they'rc
oot aschapas
,
othersupplers,
but theifqualityandrcliability
is much
0elter.
, it3 a verypositiveproposal,
but therearesomeimportant
detailsthatstillneed
clarifynq.
WhatI'n Wng to sayis/
, Juneis a
nuch bettertimeto launchth s oroductthanAor
Essentially
/
, its a goodideaaslong
,s t3 not too expensive,
WhilewE'reon the subject/
didyou
geta chanceto readthatrcportlsentyou?
Thewayt seeit /
, the wholethingis
a complete
wasteof time.
Toput it sinply /
, profitsarefalling
overall/
6
7
g
9
t0
s Yes,
but...i1
6 Askingan openquestion
lo showdoubtn
(whereyourown answeris
qiJestior
7 Askinga negative
clearly'yes) n
57.5 Q 9 Speakingpracti.e: listen and repeat. Repeat
eachphraseyou hearand then listento check.
Meetings 11
Well,qoodmornlng,everyone.
B Goodmornng.
c : Goodmornlng.
Youre probaby wonderng why I calledthis!rgent
meetrng
at sLrch
5hoftnotc.I havesomebadnewsfor
you We havea roguetrader.
B Sorry,
I n ssedih.t Couldyou,ay it aqainT
I sad we hava roguetr.der LikN ck Leeson
at
Barir,95
aid Jerome
Ketulat
Socte
Gnraie
We
havesorneone
who hasbeentradingbeyondh s
aLrthority
C : C a nl g e t t h i sc e a f ?Y o u ' r es a y i n gt h . l t h e r el r a sb e e n
A Yes,it appearsso. On a ndssve rralp lwo billon elros
C Sorry,how rnuchdid you sayT
A I ead two b on eurog
B Ho$?d d yolr arrve al the igure of 1wo b hon?
a r t sl r , s r : q u e s s
8 : W h a l e x a c t yd o y o u m e a nb y ' g u e s s ' D
? o ni y o u
A : T h ep e u o nI n v o v e dw a st r a dn g c o m p e xi n a n c r a
nslrumenlsDerivdt,veslt s veryd lf icuI io enrmatethe
C Correctme f 'm wrong. bul yo! seemto be s.yrfg
that yoLrhaveno c ue whal this personw.s ir.drng and
no c ue how much moneyhe has on
A : P l e d s e . l o wm e t o e x p a , f . c a n n o tk n o we v e r yd e t a , l
ol eve.ytranlacton oTeverytrader I havespokento
t h e n d v d u a l sl n m a n a g etrh A m o r n L n ga,n d r h e
f qlre o{ two bi on ooks ke a reasonabe gless.
B Yo! mentionedthat the personwas trad ng comptex
derivdilvesCou d you be a litt e morc specifc?
A: At ihis nage, no
B: 5o, n othrwords,yotr don r Lrnde6tand
rhe rrades.And
prcbabythe line managrdoesn'tundeEtandether
A: PerhapsI havent expldned myselfceary Whdi meafi
was thai wele nvenigdringrhe matter Thereare
certainaspectsof the t.adesthat seemto haveescaped
oLrrInlerfal controls
C r C o u l d l u s ts a ys o m e t h i n gt?d o n ' r b e l e v ew h a t t , m
hearinglDoesanyoneln this pace know what they're
do ng?
A: Cai just f nish my point?Whar I was tryingto saywas
that this is a very seriousmatterand I cannororame
rndividuals
or 90 into detaik unt lwe haveproof.
Br ljust hopethat the mediahaven'rfound out about this
'
120
Cautdtjust saysonethinq)
CanI lust flnkh ny patnt)
Exercises
54.1 Readthe dialogueoppositealoud severaltimet
then covr it with a piece of paper.
Now try to remembersomeofthe missingwods below.
Write your answerslightly at the side.
1 Sorry
l.
that.cou d you
. . . . . . . . . . . . .-. . . . . . . . i a g an ?
2 Canlget this
thatthe.ehasbeenfraud?
3 Sorry....
How d d you
ddyou
by
'girss'?
7
8
9
10
.. ......... m ei l I m
but
yo! seemto be sayng thatyouhaveno cluewhatthis
personwasvaorng.
Please
. .........
meto
I ca_norI noweverydetd.o'everytrdnsa.tion.
Youmentioned
thatthe personwastradingcomplex
deriv.tives.
Couldyoube a
morc
?
Perhaps
I haven't
mysel{
. whatI mantwas...
C . nl l u s t
my
WhatI wastryingto saywas...
allow/expiain anive/ltgue
clear/ sayirg cone{t lw.ong
exactly/ nean explained/clealy
flhishI point
hownuchlta!
lryl:E!,,
^':::!lt:y
which wha
how aften
Teamleader:
Thismeetingtodayisjusta quickbriefng sothat
everyone
understands
theirzxhkqfbeforethe prclectstarts.
Bob:Sorryundebtands
their'
Teamleader:
Theirroles.Ye5,aslwa! $yinq, il'sjusta quick
briefng it'll on y lastaroundkfxhzqminutes
Bob:sorryz . .......
. . .......
...
d d yousay?
Teamleader:
Arolndthirtyminules.
OK,soihe prcjectwill
ttaft.t the beginning
of qxkfzh.
8ob:Sorrythe projectwill start3
Tpamleade' At tl'e begrn.rngo'Ma (h Ald o_cF rs runn
ng,
we'll haveto meet regularly,xhkzqia month.
Bob:Sorrya
........
.........
d d yousayT
Teamleader:
Oncea month.OK,f2xhqkwill be n overa
chargeof the bldget.
Bob:Sorryt
..
w ll be in chargeof the
budget?
please
Teamleader:M;fiha. f yo! haveanytravelexpenses,
fil
in tom qzfxkhandgiveit to her
5
Bob:sorry
form?
Teamleader:FormTE30.lf youth nk youw ll spendmorethan
fzxhqk,youshouldget myauthorzatonf rst.
Bob:Sorry7
ddyousay?
Teamleader:
400euros.Copiesol theformcanbe folnd on
hxikzq
Bob:Sorrywe (an findthem3
?
Teamleader:
Onthe company
intranet.
Meetings 12
- probtem-solving
rvreetings
"r
d e d .b . l ^ l d
d b o L _o D r " g r o . r p
s o m eo f o u r p r o f t st o s u p p o ret n v i r o n m e n t a l c h .ersi l?
We cou d give moneyto organzat ofs that protectthe
ra nloresr,that sort of thing
A : T h a ts o u n d sk e a g o o d d e a ,b u l d o n l t h i n k t w o L r l d
w o r k i n p r a c t c eL. t s o o k a t t h e p r o sa n dc o n s O n
t h e o n e h a n d ,t w o r r l dm p r o v eo ! r p u b l i ci m a g e t, h . t s
lrLre.But on the other hand.peoplewou d see 1 .s a
verycyncal genlre And t doesnolh ng lor the lor:a
p o p ! a to n I n i h a t . r e a
B C a nl m a k e a s u g g e n o n ?n n e a do l b e n g d e l e nr v e ,
!L. do1
$e90o
h"i_"..
hdogoP.dapd,g
A : W h a td o y o ! m e a n ?
B: We
ook at the benefitsrhar our operationrw I
bring We'll br nq lobs to the lo.a community,and our
emp oyeeswrl pay taxesto the governmentWe're on
thesde ot proqress
A Let'sthink careJLrlly
about ihe mp icationsof thal We
wou d havelo spenda huge amoLrnloJ moneyon
pressand ry advertjsements,
and we're only a small
c o m p a n yW h a td o y o ! i h i n kC l a u d e l
. r q e l e d i l . o J d s l , t e d g o o o r a Faa- h o J o - a g r e e
t h a t t h e c o e tm a yb e t o o h i g h .l t h i n k t h e b e ( w a y
tolward s io get a moredetailedest mste of how much
a o l d h e r i n F , d r p o d - c d 1 d r La r w F I . b F i n a
better posiUonto dcde aboui ihe PRcampagn.
A OK, let3 do thar. After all, we havea fumber of
-or
ooriols
e{drolc, we (o,rld in . io, dt pR.ampaqn
i r s t e d do J d r o n r o n e . J \ t F 1 p h . ! i - i r g - h e r o b s
"
B: OK The nextthing to do is carryout a morc detailed
georogrcar
suwey.r aqree
Notice the processof explorjngoptions,maklng
suggesiions,reacting,and acceptingor rejectingthe
ltl
a su!!qestion
5 9 M E E T I N G S- P R O B L E M - S O L V I N G
Exercises
59.1 Coverthe oppositepagewith a piecof paper.
Now try to rememberthe words below (Someletters
1
2
I
4
Thereare sev
\rayswe couldd
'd lke
to o
1 r t h e d i q c u q s oann d h e a ry o u fv
Yes, su
seyou re r
t
Th.t s
s k e a g o o d d e a ,b u t d o n t t h r n kt w o u d
w
p
r
(= advantaqes
5 Let'sook at the p
and co
and
dis.dvdntdges)
6
th
e
d , t w o u d m p r o v eo l r p l b l c m a g e .
thats trLre But
the
I
d. peope wou d
r:yn,:a
lery
gesrure
see I ds d
7 Can
on?
d o l b en q
t we go of lhe allack with . brg PR
qn n the mda?
canrpa
8 Letsth nk c.refuy dbourthe mpl
(= possrb
e futLrre
rcsulttol th.t
9
n g
il soLrfds,ke a qood rda.a
9h
a q e t h . t t h e c o n m a yb e 1 o oh q h
10 thinkthebt wy f
d5toqetamor
d e t al e de 5 1 m a l
s9.2 Make phrasesby matchiog an item lrom each
I
2
I
4
5
6
8
9
l0
ll
12
OK, lefs
...
'\\
what
Thals a rornp ale'.
Why
'.
Ys,that wo! d
Sha
wane of trme
work re.lly well
aboLrl )
C a nI
I can see
Imnotreay
T h a tr n r q hbl e
l d o nt t h n t t
worth try n9
donr we
do thal
a g r e e{ o n ) . : r r v ea t ,c o m e! p w t h ,
lgure o!t. f nd, ook tor,ofier,
produce,propose,
put ioMard,
reach.work towards
'
5 r . 5 r i l l e a c hg a p w i t h a v e r b f r o m t h e p r e v r o u se x e f c i s e
in the (orred form.
w o ud w o r kI n p r a c i r e
one or iwo probem! !^i(h ihal
6 i somethinq
' o r o . d - p . d " r c eo . d l p . 6
a suq9e5rLof,
99pror.4p. Le.
Meetirgs tll
Closingthe meeting
t3 nea.y tweve
r21
Focuethe d;scussion
1thitk we needto loak at thlsin nare detdl
Weneedta analyzethtsin a little moredepth
WiCn the discu13ion
ls ttrercanghingelseweshauldcantdea
what ather waysarc thete ta appraachthis?
Check agreement
Canwe go raund the tableta seetf evetyane
Da weal agrceon that?Gaad,that'ssettled
S mmarize
5a, basically,
whatyau rc saylngis ..
AK, bt\ go overwhat we ve discussed
sa fat
Exercises
60.1 Coverthe opposite page with a piece of papei
complete the sentencesfrom the opening oI a meeting
with the Dairsof words in the box.
agenda/ getthtough
backgrwnd / usetul bathroon I hdl
btief /point
cowl agenda housekeepingI begin
ill/ apologies kick I off tight I s6rt sayI words
straight I iten take/ ninutes
iseverybody
here?Good,I thinkwe
Annekeis
2 Unfortunately
Arethere
HaveI
| thrnkrt wasa
l'llcirculate
Canwe
can ljust have
missed
anything?
a quickwordwith you?
of aclionpoints...
anyotherpoints?
up.
veryusefLrl
meeting.
hef-
3 Justa coupleof
4 The
on the left.
5 Doyoual havea
6 Cansomeone
thingsbetorewe
is down the
of the
the
7 Wouldyouliketo
8
9
10
11
aboutyou6elfAgnieszka?
preparcd
infomationthat I
l've
some
hopewill be
Youcanseefromthe
lot to
lwould askthatvoukeeoallcontributions
andto the
OK,let'smove
to the fi6t
Dealwiih interruptions
l
Kp moving
12 Henk,wolld youliketo
?
60.2 find a wod or phrasefrcm the previousexertise
that matchesthe deflnltlons blow.
at a meeting
1 a list of the subjectsto be discussed
makeat a
that Deople
2 a writtenrecodof the decisions
forrnalrneeting
3 (p/rrasa/verb)do; f nishdealingwith
4 oneof seveElthingson a list
s (phrasalveh) begin
60.3 Write ArEGritish English)or Amf (Ametkan
English)on the right line1 bathrcom/ restroom/ washroom2 loa (infomal)/ loilers/ gents/ ladies/ wc
Foaus$e dirausslon
S I lhlnk we need lo look at hE n fiore deta'l
widenthe discussion
1
cheakagrement
9
Summarize
10
50.6 Q 12 speakingpracticelistenand repeat.Repeat
eachphiaseyou hearand then listento check.
Meetings l2l
rvr..tings- negotiatingI
126
SLrggest alternatiu:5
CustomeF
r :o ru s ,t h e p r i o r t i e s . r eq u a l i t ya n d r e a b l i l y
5 u p p l i e rW
: h e ny o u s a y ' r e l i a b i l i tw
r ean?
y 'h, . i d o y o L m
CLrstomerI meandeliveryOn t me, everytir.e Can yo!
do that?
Supp eri Yes,we can OLr cunomersarc well-knownf rms
who trust !s afd come backto !s
Cunomer:OK.
SupplierWhat sort of quantityare yoLrrhinkingof?
C u n o m e rA
: r o u n d1 , 0 0 0p i e c e isn r i a y . B ! t i h a t m . y
-ianoe Ho/ fF,rb'"
ca- \o 06o qJo r,r/
S u p pi e r :Y o ur a n c h a n q et h e q ! a n r i t yu p t o f v e w o r kn g
daysbeloreth agreeddelive.ydate,dnd we needa
m i nm L r mo r d e ro f 5 0 0 p e c e s B l r q u a n t r y i s n o r a
p r o b e m O u r m a n . o n c e r ni s t h a ty o u d o n ' rc h a n g e
the basc specfic.tioneof your order
Cunomer:Right,I undeEtand.And in termsof delivery
what kind of timescaleare we look ng at?
SupplierTwo weeksfrom your f rm ord-6r
Cunomer:OK Anotherqlestion We'vebeenquoted d
prce oi 950 per p ecefor. very s milarprodu.r.Can
yo! matchthat?
Supp r: We offer qudlityai a reasonable
price,not at ihe
cheapenprce We donltry to cornpeteon price. t3
aboLrta relationshp belweenqualiiyand price.
Customer:Of course I seethat. But wh.t kind of
guarantecan yo! give !s in relition to yoLrrquality?
I
6,I MEETING5- NEGOTIATING
Exercises
61.1 Readthe dialogueopposite
aloudseveraltimes,
then .over it with a piceof paper.Now !ry to remember
someof the missingwords below.Write your answrt
lightly at rhe side.
1 OK, ets get downto
2 what
do youneed?
3 For!s, the
arcqlalityandrc ab ity.
4 when yousay'reab ty', whatdo you
1
5 our clstomersarewl knowni ms who
usanocomeoacK10us.
6
cdn you be on qrantly?
7 You can chdngethe quantity!p to fve work ng days
orderof 500pieces.
(feelifgoi worry)s that
9 Ourrnain
youdonl change
of youroder
thebascspecrfcatons
whatk nd of
l0 n termsof dllvry,
we lookng at?
( - l o d ) a P r c eo t 9 5 0
perpie.efor a verys m ar
l2 Canyou
thatisequa)?
ir
\^/p .ffo
that (= providsomething
Price
Supprer:Thepriceperitemis 140.
r
sems
cuslomer:That
whal sortof pri(e7
Supplier:
120
SlpplerI th nk you f nd ourprces.r
Discount
over5,000and
suppief:W glva discolntoi 3% on orders
s% on ordrs
over10,000
Customer
lsnl that5
SupplierWhatk nd of dEcountwereyou ookng for?
Cunomr:5% on our orderof 6.000.
S!pplerWeLl,
we don'tnorm:y gve
^ ': rv :i ,
14 Butwhatk nd of
relaton to yo!r quaLiiy?
After you have remembered whatever you can, use the
words in the box below to complete th sentences.
exible
bu'net
cancen dehvety etactty
guarantep nat.h nean ntntmDn pnannes
guoted rcasanable tines.ale tust
61.2 Fill in the missing letters in the phrase! below'
quo'rr!,
rrl,nq
.,
"",o.l
what L
ol
:
.
dr.,
o , a w F G r- q
l times
l
are we ook nq
t merssx weeks.
Supprer:o!r delvery
I d dn t expectrrobe
customer:
SupplierWhatexactydrdyo'r
s
1
in fourweeksCanyo! do that?
Clstomer:W needdeLivery
t me- our
S!pp er:Thatdoesn'igiveusvery.nLrch
i5 verybLrsyat the
a r e5 0 % i n
Supplier:Ourro
.dvan(e,and50%30 daysafierde very.
cunomer:
coudn'tyoubea itemorefexble?
Supplier
whatdo yo! mean?
clnomer: We'dprefer,say,onelh rd
oneth rd alter30 days,
and the finalth rd after 60 days.
Slpp r: l'm sorry bul we on y offer conditonslke that to
Meetlngs
l2i
t..r,rrgs - negotiatingrl
:l
I'i
r,
12lJ
CListomer:
/ see.And earlieryou rard thal you need50%
pr,paymentfor f ret l me customers
S ! p p e r : T h a t sr i g h i
Clstomer: 50% s a lot of moneyto p.y LrpfrontI m sorry
w e c a n ' ia c c e ptth a t
SLrppier: We d be preparedro offer beter rermso{
paymenl,b!t on y if yoLrn.redsedyoLrrorder
c r n o m e r :w h e n y o u s a y ' b e t e rt e r m i , w h a t d o y o u h a v e
Supplier:We , f yo! order 500 p eces,we,ti accepr250lo
paymentIn advance,wnh the baiance60 daysafter
delvery Thatshoud he p wrth your cashftow.
Customer:OK, we .ou/d ...epr ihdr, bur on y or one
5!pplier:Yes?
Cunomer Thdtyou can makerhe smdltcunomiz.tion that
we ta ked dboLrtearlierar no ext.acon.
Suppler:l'm not sureabourthat dont havethe auihonty
to makethat decsionby mysef.
Customer:We l, if you can agreeto thar, we can cose rne
Suppler:OK. Can yoLrgive me a momentto makea ca ?
Cunomer:Sure.
5upplier:... Yes,we c.n makethat customizarion.
No
problem.NoW let3 j|rst take a momentto revlewwn.r
we v d sclssed.So, . . .
62 MEETINGS- iIEGOTIATINGII
Exercises
52.1 Coverthe oppositepagewith a pieceof paper.Fill
in the missingletters.
1 Olf mi. . .um o
r is 500pieces.
2 Thatsnot realy a va.. .. optionfor us.lt! not
c t-eff
e for usto do. prodldionL
oijun
300peces.
3 Earleryous. d th.t yo! need50% p -pa
t lor
t. t tr
customers.
4 50% is a lot of moneyto payup
t.
we'
5 f youorder500pieces,
accept25% paymentin
ad
60 days.fterd
, wlth the bal
ry
Thatsho!d hep with yourc
ll
6 | don'l havethe au
b m v
62.2 Finda word from the oreviousexercitethat means:
2 (infarnat)h advance
I 'e1a ri g d'rou r of n o.p/
62.3 Completethe sentences
with the pairsof wods in
anirla
of, say,300pieces.
We'dbe
to offe.bner
of payment,
but onlyif youincreased
whaiwe'ved scussed
Canwe jun 9o
.,
whatwe'veagreedso
?
aithrs
1 0 Ithinkthat\asfaraswe can ........,
...today.
proposa
deal
a briei,compete,complex,
concrete,
iinal,fu , mifor,
practical,
pfecise,
rough,iechncal
generou:,
important,
key,limited,major,minotsigfificant,
sizeab
e, substantial
potntal,reasonabe,
acceptable,
f.lr, necessary
(un)satisf
adory sensble
flexible,
strict,tlght
5 W o L r lydo ub e . . . . . . . . . . . . . . . . ...i.o
''' '''''.''.
?
6 vFr, rldr
be
7 That
8 LeiSjust take a .......................
.............
. to
..
4 extract,get,grant,m.ke,otfef,win
Whenyousay'bettrterms',whatdo you
?
....in ........
..... ..
We could.. ......... ...... . .. . that,blJtonlyon one
i
'
the
details
deadline
12 f yolr'd .................
.......................
....
Meetinss 129
Studv Version2:
'
Noiice at line i how the Customerusesa
rvaming phrase'To be honest'and then
changes'is' to 'secms.
' Nohce at line 2 how the Snpplierchanges
'much beiter' to 'significantly
bettcr'.Ihis is
frore businesstikc langxige.
At linc 3 the Customerrses a gamrnatical
krm caUed'thcsecondconditional'.The pist
toms I'org/'r.nd irorld makc ihe tanguage
morc hypotheticnland indjrcct.
At linc 6 ihe Suppliersays'That won i be
easy'insieadof 'Ihat('illbedifficult'. Using
rtur+ a posltivewo.d lncieadof a ncgativc
word is typicalof nldirect Lhgrage.
At line I the Slpplicr uses. negativc
question.This is also typicalof itulifcct
Negative que5tion
Whydant yau .?
Woul.:ln't
lt be beftet/ easier
to ..?
lsnt it the casethat. )
Past forms
Wewere thinkingaf sanethingaraund5ak
Whatdi.l you havein nind?
It we baught th6 praduct,. )
130
63 MEETINGS- DIPLOMATICLANGUAGE
Exercises
63.1 writ the line numbersfrom Version2 opposit
perhaps,
maybet
wauld,cautd,mishti,
lu5f I
seemsil
rephrase
with ,ot| :
warnns phcseill L
queston
ngatlv
pasttensel-,l
a
b
c
a
f
q
h
A c t u a l l y t s e e r n st o r . e
thal it m ght be a litte
d f i i c u l tr L q h n
t ow
Meetings - review
64.1 Fill in the missinglettersin this xtractfrom a
meting.Fourpeoplespeak:the chair.[4arek,Camille
Thechairopensthe meeting:
R
thinkwe canstan Well,qoodrnorning
everyone,
andth
s f
c
Brucesilland
a Unforlunatey,
s
s hieapo
lusta colpleol hou
p nq thingsbeforcw begin
- we l havea sh t b
k aroundtenth iry,and[...] .
DoyoLr
a hdve.c y of the.
a?GoodCansomeone
t e the rn
s?Thankyou
OK,let'Enroven
t ro the f lst
Marek,wouldyou
camillegivesan opinionl
Fromnryp
t of v w, thinkthat [. .] .
Marekpresentssomealternatives:
Th.earesverawayswe couldd
w
thrsiss
Lett lookal the p s andc s ol achopt
I. I so,in
qeneral
I m n fa
r of optionofe because
of thecosl
gh I.. I .
advantases,
.
Thechairaskscamillefor her ractions:
Th.nkyou,MarekC.mre, canyoutelluswhatyouthink?
T h s s y o u r l d a n d k n o w y ohu e s e e x
Camillspaks:
l a g r e e w l h M a r e tk u a p
l . r t m a y b e te r h a t l L
blt we a so havto conslder
1..l
sowhatlrntr gio!
isl lOr,lop
rts ly,l I
Canlc e i here?
Thechairblocksthe interruption:
Marek,
coud youI
I
Camileli
b
to you n a mornent
Camille(ontinues:
Co
t me I 'm wr
thatI ..1
? 'll c
Adrianareformulates:
Ys.I
me p it a
r?
er way,I ..1.
Thechairkeepsthe discussion
moving:
Le13le e thdtas e lor th rnoment I m not surerrs
rel
t
Camillesuggestslhe next stps:
Ithinktheb
!!ayfor
d s for usto I.. I .
The(hair asksfor repetition:
sorrycanyour
thr
thatagain?
lwanlto besure
CamillerepeaG:
Y e s .f c
,t. 1.
whatwe'vediscugsed
s
camillspaks:
Abs
y And it'snotjlst [ ], i5 a so I I So n terms
ol ac on p
ts we needto [...].
,butin
Markrejctsthe suqgestion:
Thats
s ke a qood ded,bui dont think t woLrld
w
pr
e Thep fr s[...].
112
Marekasksfor clarification:
Yo! men
ned[. ] . fould yoube a ttle moresp
r .tI
Thechairchecksagreement:
OK Canwe g r
the t
e andseil veryone
agrees?
l. I Good,thatSsetted thinkweshoudm
Marekcorrectsthe misunderstanding:
Perhaps
I haven'texp
nedn-iy f cl
ly Thatsfot
what me t WhatI wast nq to 5aywas[ ]. As a
roff
,1..l
anid
Adrianafocuserthe discu5sion:
thinkwe needto dn
ze th s in a I
le morcd th.
And
so,
because
of
that,
i
t
d
to
feel
rhat[.. ] .
t I
Thchairsummarizes:
I seenow.OK, et'sg o
q, butMarek
s
Adrianamakesa sugg$tion:
Canlmakeasuqqest3
o ln ?
of I. .1,whydont we [ ]7
LetSihlnkcar
llyaboutthe m
ionsof that.
o theo
h
[...],buton theotherhandt. .l .
64 MEETII\IGs- REVIEW
SupplierOK, etb
business.
So.youte interested
ln our grcetinqs
cads.
Custorner:
Yes,theArtsCardsranoe- the oneswith the
images
of famouspaintings.
SupplierWe sella lot of those.what sol1of quantities
Customerrruna chainof ejghtsmallretailoutlets.andl'd like
to put the cardson a display
standbythe checkout
at each
one.Whatqlanttiesdo yousuggest?
supper:We 3 ..............-.-......
with the stand.But etb get backto the quantity.
Perhaps
youshouldmakean in tialorderof, say,2,000cads.
CustomerThatseemsikequitea larceamount.l'd pfer to
have1,000cardsandseehowtheygo.
SLJpp
er:Whenyousald'display
nand'earlietwhatexactly
.. n mind?
CustomerA rtandfor the counter
Suppier:5.
a counter
stand,
whydon'tyouusea floorstand?Thecapacity
is much
biggerA floorstandthatturnsround.
Customef:
Yes,I thinkthatwoud workwell.Afe theyeasyto
find?
SupplielWe cangile youonefor eachstorc,fteeof charge,
but yo! wouldnedto ordera minimumnumberot cardr.
Customer:What
sortof figure
.about?
Supplier4,000cards.ll yousell100perweekat eachstore,
You'getrdofthem
Customer:
No,l'm sorryjan orderof 4,000is not
. ljust don'thavethe
cashfow to supportthat kindof purchase.
SupplierCashfow doesn'thaveto be a problem
Cusiomer:
Whatdo youmean?
SupplierYoudon'tneedto payeverything
in advan(e.
lf
youorder4,000cards,we ll giveyo! veryqoodtems of
payment.
Jusi50%3
the baanceafter30 days.
Cunomer:What
isihe con percad?
Supplier:
Thesuggested
retaipriceto the publicise.90. We
sellthemto siockinsikeyourselves
for 1 20 each.
Cunomer:Well,to be honest,l'm
ld likesometimeio
thinkaboutit. lts a lot of money- unless
we cannegotiate
the costpercard.
supplier:
l'm sorrythat'snot negotbble.
Customer:
CanI suggest
anotherwayot
prepared
to takebackanyunsoldcardsfromourordr?We
don'tknowwhichonespeopwil buy.
Supplierll we agrceto ihat.
wth th othrpoints?
Customer:
Well,an orderof 4,000cadsisfar morethanI was
thinkinqof initially,
but I guesst! posslble.
i'z
SuppherOK, we d
to take
cads,but onlyfromth firstoder,and
in perfectconditionfor usto reseL
Supplier:
That'slt, then.lthink we
54.3 Makethe <ommntsmordiplomaticusingthe
words in bra<kets.
1 Tharwill be expens
ve.
(might/ quite)
We willwanta largerd scount
(would/ signif
icantly)
Theresonethinglwant to clarify.
(ust/ liketo)
Splitting
the oder intotwo consignrnents
woLrldbe a
goodidea
(wouldn'i/better)
l'm un(onvinced
bythisestirnale.
(nottotally)
Yousaidthatwe canhavethe products
on a tral basis.
(unde6tood
/ (ould)
Whatquantitya youthinkingof?
(seems
/ me/ moreor less)
t 2 It wouldbe easier
to paymoreandshipih goodsby
Air Exprcss.
(wouldn't/ littlemore)
Meetings 133
"u",rr.rs
All thcsciypes of report haveccrtain feahres in common in ierms ofstyle,layout and structure.Seethe tablcbelow
5tyle
lactua
(areiu
baanced
measured
high vel
oTgrammatca
dccLrracy
Structurc
(langerteports)
(shonerrcpotts)
synematic
numbern9 ol
Nor:in a busnessreport
sectonsandsub-sectons Coverpage
Io / From/ Date/
the'Findings'section
w
bu er po ntsand ists
Acknowledgements Subtect
probaby be rpacedwth
(Tabeof) Co.tents
visuals
suchastables,
Introdlcton
sectonsretated
to the
(Executve)
charts,d agrams
Summary Fndings
contentof the repo(
areasof blanktpace
Terms
ol Relerence
Concusions
Forexarnple:
at the margnsfor the
Procedure
Recornmendarions
Advantages
/
reader
to makenoies
Fndings
D sadvantages
Concusons
A / OptionB
Option
Recommendations
MarketA / MarketB
conclusion
A keychallengefadng us is ..
ln the llght af theabovefindings,we rcachedthe lallowing
On the basisof the figurespresentedabave,.. wauldbe
r l.t
- REPORTS
55 BUSINEsSREPORTsAIID PROPOSALS
I
Exercises
55.'l Matchsomepossiblesectionsof a reportin the box
with their des<riptions
1-10below.
a.knawledgenents appendix .onlusians @ntents
ca@rpage executivesunnarf
findings prccedue
recomnendanons te|."]'sof rcfercne
pus" l
2 whena blockol textis{urtherto the rlghtthanthe b ock
aboveit a
3 an earlyversion
of a reportthatmayhavechanges
made
io it beforet3 fin shedIl
4 pictures
anddesigns
thatcanbe digitally
insrted
intoa
reponr-anothefwordfor'summary' usedespecally
in scientiic/
technical
rcports[ ]
the methodof holdingtoqetherthe loosesheetsof paper
(oftenalsoihe covefof the eport)f l
(egquestioas
questons
someone
who answers
na
questionnaire)
[.
8 an ilerr ir a lsr wrtha srrallsyrbol ,n fro'rrol rt I
9 a methodof directing
the readerto anothrpartof the
repon' l
10 letteBof a partculafstyel l
11 a noteplaced.t the boitomof a page,or at the endoi
the reponI l
1 2 information
thatappears
at ihe top/ bottomof everypage
(eqthe pagenumber,
somewordsor lettersdentifying
the
repon)
1 3 thetarcetaudience
of the rcport l
1 4 an alphabetcal
listof unlamiliar,
ized
ditfcultof specia
wordsandphrases,
with ther expanations
L
1 5 a consistent
styleof writng (andl.yo!t) u5edby everyone
i ]
rnside
an organization
checking
andmakingcoffections
io: document
(oa'rKLlary
n elator to speIngandr'(oisisrercres
1
layout)it
1 7 a sho|tpieceof writingthat introduces
the rport,written
by someone
otherthanthe mainaLrihof
i1 8 wordsprintednearan illustratiof
or di.gramihai explan
what it isI
glossary
g header
/footer
b drait
o proofreading
d caPiion
q crp a|!
binding
layout
I bu Letpoint
1 0 a paragraph
or two whereyouthankallthepeopleand
organizations
who hepedyouduringthe preparation
of
th rcport
".rrin"rs
Topic sentences
Look at this paraglaph.
Next ledr the ccolto'tiyis likeu ta na,r,dod,i sisniJicantly,btt
uithat! goi'Lgiito rec.$ia'l.Consulftrdena oill decr.ase
as
tcopte,sea gteatcrprcpnian oJutn incaw to soo.ar to prv ofI
debh. Ho1lctu the Toerketeutu |L'ill hcLpcr\ncrc, and atrscas
ddwfld n1Bnzjl, ltltiiaa,t.l Chi11n
/ejtnitlssnatry.
The first sentenceis calleda 'iopic sentence'.It introduces
and summarizesthc paragraph.Mostparagraphsin fomal
writingbegin with a topic sentence,and they gn'e a solid
stluctue to your writi!8.
Signposts
Look at thesephrascs.
Formal. impersonallanguage
The lmSuage of reports is more formal than speech,btrl not
so fonal that it is difficult to understand.IiJormal language
should bc avoided.The following scntencehas I (1oo
personal)dd a conkaction(too infolnal):
I u ditided thk reponi,no ...
lnstead,you mighi write:
Th;sr.port is tliuidcdnttu...
Waysto make your writinS a little more formal include:
Thc passive: d l..isn,r is expectedsaon
1cli!1dtff| t t .oill bc uade h Dkhbcr
Tht sur1j..vshou&1
thcft,ttau,,s thre.rpas ol co'1co't:. . .
s.ttit 12.2ofth. rq.tt i(illdkcuss thish,'arc d.tii|.
Ir + passive:
r36
Linking words
If srorldre cftphasizedtlnt...
It is rc.ommehde.llhnl ...
Language of trends
Seeunits !
md 55.
- REPORTS
66 BUSIiIESSREPOFTS
AND PROPOSALS
II
Exercises
66.1 Readthe following paragraphfrom a reportabout
lT spendingcare{ully.Thetirst sentence('the topic
sentence')is missing.Choosethe bestfirst senten(efrom
the three optionsbelow.
t . /Tr . so Jlor shoLd be an .nlegraled
workspace
lhati;
bothan intianetand a cenlralresourcefor our organizaiio[
a Access documenlsand intormationsecurelylrom
a Organizecaendars and schedulesin a cenlrali2ed
a l\,{eet
live,online- anylimeany\rvhere.
a sharcp@sentauons
anddemonstratons.
a Collaboratewith co-workers,partnersand clients4Achl6ving
the6egoalswillresultin increased
creativity
and
r',incras6d
elliclencv
a We needto investin an lT solutionthatallowsusto reduce
costsn everydepartment,
b We needto investn an lT solutionthatallowsusto become
the marketeaderin our industry
c We needto investn an lT solltionthatallowsusto share
information
andcollaborate
wth colleagues
mo effectively.
56.2 The extractaboveshowssomeexamplesof
'repetitionof words and drudurel'. Find:
1 two wordsin sentence
2 that refe6backto 'lT solutionin
me loprcsencnce. ........
...
2 two verbsn thetopicsentence
laterin
thatarerepeated
the bu let points
3 a two-wordphraseif the secondhalfof sentence
2 that is
rcpeated
in oneof the bullets.
wth a rlght changeto the
formof oneof the words...........
4 a wordtl^atis repeated
tl ee rimesin rhebJllprpoin6
Notcealsosomerepeating
sirudtu.es:
a a verbin th infinitive
aftereachbullet
a 'increased'
+ abstEctnounin sentence
4
A theserepetuons combnedwiih the clear,conci!style
- helpto pe6ladethe readerand givelhe pdragraphmpact.
results
areonlyprovis
onal.
r38
coals
JKL',nain goalis ta autsource
... in ordetto rcducethe
numbetof n-hauseFnplorpesrhcsecnplorap.arc
tullyoccupied
fot anlyabout60okof theyear[...]
A secondatygoal is to mininize the time thatJKL
nanages spendan prcblemsassociated
with . . [.. ]
fhesegoalsarc achievable,
and out ptapasatoffe6
an idealsolutian.Weare ableto deatwith and aul
customerserviceteamcanhandleanyprcblemsthat
lmplementation
Wewi delivetto MNOimmedtate
stockof ... and make
a commimentto supplyan additianal... [...] h addtion,
we wi ptovkleMNOwith salesflyersandstorc displays
fot
Pri(ing
Thetotal .ast of thejoint praje.t whh peR wi be
4O,OOA.
Of this total, our fee wit be 8A,000. The
t.mant41C10,0AO
at e\pen,e w,ttDeabsatbed
t.
PQR.[ ] PQRs goalis to convettone-tinecustamers
into rcgular.ustonetsb\/ denanstratingthe long tasting
benefits
af ... Aurprcposal
shawshow thatcanbe
achievedin a cost-effective
mannett . lThe resour.es
that PQRcomnia b the proje.t will alsoallow it to take
advantageof oppotTunities
in ... na*et'
Seenext @lumn llg
- PEOPOsALSI
67 BUSINESsREPORTS
AND PROPOSALS
Exercises
67.1 Finda word {rom'Structuro{ a businessproposal'
oppositethat mat(heseachdefinition below
1 the rangeof thingsthat a parUculdr
activitydeaiswith
2 (twawords). d agtan usedn prolectmanagement
thatshowswheneachtasl</phase
shouldstaftandend
rangrbere.1srl^ararep odL(d a resLr of a p'oje.1
"5
research
reports
suchasphysical
items,desgnspcfications,
Now do the samefor words in 'The phrassyou need'.
4 verynewandmodern
5 formalnaGments,
wr tten by previous
cl ents,thatdescbe
t' db[te- of. pe'-ono corpdry
6 an arnountof moneythatyoupayfor prcfesslonal
setuices
57.2 CoverThe phrasesyou need'opposileand below
with a pie(e o{ paper Fillin the missingletter'.
1 Litinventory
costsandsh ten prodlcrionruntimes
n aq. :(:
e:
1.
3 a sec arygoal
4 we will con
t (= do/carry
out)a m.rketng su
5 a company
with an i -de
lndeEtandng oi ...
6 we haveexte ve knowledge
d
of thisf
gl0,000ofexpenseswllbeab ed
7 therem
by PQR
-eff
8 thiscanbeachieved
nac
ema er
9 | q'as ng benefitt
10 the esiab
ed marketleaderwith a 400/0markel
sh
rg
conclusion
Werecanmend
oursolutionas beingthe bestopxon
available to reduce costs over the mediun to long tem
and,e,nta e XYZ\ b,and, inaq". [.. ] thp nalkpt is
relatively new, and ta date no significant competitors
ta XYZ haveeneryed. An inproved inage should help
delay conpetitian. [...] When conpetition does emerge,
XYZ wi be seenas the establishednatket learler and
should be able to hakl at leasta 40o/onatket share
BLrsiness
reportsand proposals 139
".,ri,r.rs
140
Financial
ger rhe oweslp'ice. edJceope.ar,4ge^pelses ircrease
revenue,improvecashiow, reducebad debt,outsource
io removefixedcoststrcmthe payro, increasethe
get a argerporlionof
absolutevalueol eachtransaction,
eachcustomeistoialbusiness
Social
Iniernal:increaseemployeejob satisfacuon,
enhancejolr
performance,
reduceturnoverarnongkeystaffraembers
reduceabsenreeism.
acceerareemprovee
lra 1rn9
Exlernal:
increasecustomerloyalty,improvebrand
recognilion.
crealea positveimagein the communly,
addressa comanunity
concern
/ envronmenlal
0uality
improvelability,enhancemaintainabity,increaseease
ol r.rse,
complywithregLrlatory
standardsconiormlo a
specificqualilymelhodoogy,
redLicedetectrates,reduce
customercomplaints
Technology
g",r" ,a" d'"","n,p"a"a or hardware
a10sofra'o
lo worktogelherpfoperlyimprovesyslemflexiblity,
implemenl
lhe mostadvancedtechnoogypreselvethe
valueol legacysysterns,
reducedownlim,add new
lealdresor capabllres,aJrorarea laooL.irtersire
Riskminimization
avoidlhe riskof lailureimplemenl
the mostproven
appfoachaddss healthand safetyissuesavoidlab ity
Compeiitive
advantage
overtakea compelilor,
becomethe marketleader,enier
newmarketsquickly,updateproducisto keepthem
competiiive,
iocuson corecompetences
- PROPOSALS
II
6A BUSIi\IES5REPORTS
AND PROPOSALS
Exercises
68.1 Checkany unknownwords in'Value:what maters
to the client'in a dictionaryThnfind a phrasethat
mat(hesthe meaningsblow.Write your answersin tull.
1 decrease
the amolntof monyowedto youthatyoucan
11 p
PROPOSAL
Frcm Cltstom Computing
.Io
Big Fridge Manufacturing Corqoration
KeY goals
Big Fridgc is considcringan upgndc oiiis ERP (Enterprise
ResourcePlanninS)sortlarc to allowit ro expandir-s
manufacnringbde iD Edienr [urope. Big tridgc mnts to
kno$ whatoptionsare alrilable, and nr pafticularhow it is
pcrible to curomize a siandardERPpackagc.
Conclusion
Big Fridgeis in r position$here ir.an m2le signilicant
ad\2ncesin borh prcdu.rilq rnd prolihbiliry asa result
ofinveshenrs i. ERPsofNar. Theseinvestmnts
will
positionBig Fndge a a leadnrgplaye.id rhe white goods
\\' .econmerd rhat Big FridgechooseCustomcr
Compurilg ro.arry otrr rhe inirial elaluarionofthe optiors
alailable.Our rnck record shoNsthar h a.e ideallyplaced
ro provide Big Fridge Nith $is anallsis.
Should Big Fridgedecidero go aheadvirh any upgrade
\ o l u r i o nC
. b ' u m C u n p ' , r i 1 t ks l l b - d F l i g r F
, d,o tJ in a
further proposrl ro carry out the work.
Version 1
Talking abolt the Siales, the problem is that $'e onlv
hale salesguys on the coasts.And do you kno$ what?
There's some iough compeiition oui the.e. A couple of
a u . r o m p e l i l o Am e r 8 . d r e . e n t l ) t h e f n e w r o m p . u ) i s
walking all over us. Our next quarter's salesfigures are
going to be a disastei But yo! have to look on the s1lmy
side - maybe ourhead officewill find a local companyfor
us to buy' Then we have a chane.Anlyay, head office
has spcnl a 1ot of troney over there I guess thcy kno{'
what they'redoin8.
Version 2
I n r e l a t i o nl o l h c U S m d r l e t ,u u r s r h . J o r c er h e r ei \
concentratedon the two coasts.Moreover, we facevery
strong competjtionfrom localplayers.If, fa.t, two oforr
compeiitorshavc .ecentlyme.gedand the ne{'company
is iakiDgsomemarket shareaway from us. Ther.fore it
is likely that the ycar-on-yearrevenucfigu.es for Dext
quaricr willbe flat, or clen sli8htly don'n. Neverrheless,
thc long term ouilook for the US is still vcry positive
- partic'riarlyifwe can make a localacquistion to
'ncreaseour market pneiration.On the whole we are
confidentthatour investmentsin the US market will
VcrsionI is spcech.Sentences
arc sho.t. Sometimestherers
ro Inkhg ofonc scntencetu thc ncxr,othe. ti esitisdone
with simple words likc,4,td,Brt,Thdt, Ar!1M!, etc.
Version2 his very similar content,but is cl.arly from a mo.e
bnnal contexi.This could be a written report,or it could be
a spokcn presentaiiono. n contnbuiion ar. i.rge heeting.
Obvjously the vocabularyand gencraltone is more formal,
but p.y pfitic!lar attentionto ihe linling ilo.ds and phrases
in bold. Theyte used to make thc structlre of the a.gument
clear The reader/listeneris ('anrcd .bout s'hat is coming
nexr a changeot iopi. (tu '"/drio, io), a se.ond point that
adds to the irst one and reinforcesthc argument(flof.oru), a
real situationthat the writer wants io lightight (t? fa.t), etc.
lMlen using linking rvords,think aboui then position in the
Most of the examplesin 'The plmscs l,ou need'can
"
be ued at the begirDing of a sentence,dd where
appropriate are followed by a coma (ie s'here vou
wor'ld pausenr spcech).Version2 abole showsthis.
i Many of these$ ods can also be usedin the middle of a
sentenceafternrd:
..., and iherefore...
ir A te{' are used immediaiely after a coma.
espcciatty,suchas and raheteas.
't12
These include:
nen
Talk generally
n general,
on thewhole,in most.ases
Add a surprising or unexpecled idea
howeve,evensa, neveftheless
Make a contrast
tn (antrcst,an theathethand
State known inf ormation
of rcurse obvjously,clealy
Con.lude
in concluslon,on balance,averc|l,taktngeverythinglnta
- LINKINGWORDS
69 BUSINESSREPORTS
AND PROPOSALS
Exercises
69.1 Coverthe oppositepagewith a pieceof paper.
Now matchan item on the left with an item on the riqht
with the samemeaning,
3
4
5
6
therefore
n p.rticLrl.r
n f.ct
n qeneral
c actualy
8 clearly
10 re
69.2 Completeth sentencesbelow with either'e9'
or 'ie'.
1 Fossfues,
o , gasandcoal,are keyio pdya
smaer roe n the overalenrgym x
2 Fossfues,
o andgas.are
ikey to playa smaller
ro in the overa energym x
grata and
Thewordse9 andr havLatinoig ns(exemplt
eso.Theycan be usedin speech.s we I asw.itins
lid
in paniulat
rcgading
'
the longerterrn,therehavebeen
sevelrequests
by empoyees
to changeour off ce
fromM crosoftto App.2
computers
thi5 is somethingthat we haveto consder,as App e has
r
somelignificantadvantages.
, Appe
oflersa betteropratingsynr. and is els v! nerablto
n fa.t
narcovet
on the whale
, appe compute6areakeadyin
- the two graphicdesigners
usein our organization
in the
Communications
dpartment
usethem
, w'vnotcedthat manYother
peoplebringto workthe lvaclaptopsthattheyuseat
, th s doesnot seemto create
- the officesuiterunsperfectywell
proberns
anyserious
on a Mac.
fo, e/anpte howe.et ,e(o^d|.
'
, tnee a e so'nesero-sobslacles
platformthroughoui
to adoptlngAppleasthe standard
theorganization.
Firstly,
theres the questonol pfce.
- they'retargeted
Applesaresiqnificantly
moreexpensve
at the consumer
marketwherefashlon.nd designbrlng
a premiumprice.!
, therearesome
issuessAP,'
serious
technical
, doesn't
runon Macs,andour lT supportstaffareunfamilarwih
the Macoperatng syslem.
'o
offe6
, to sumup, Microsoft
familiarity
andeaseof techncalsupporiat a reasonable
^.np.ffF,
,lF!n- and
grcatersecurity
at a higherprice.Whatconcusionscan
be drawnTr'z ... ........ . . ........
ihat the best
, it seems
optionisto contnueusingM crosoftPCsfor the majorityol
staff.Wewill of course
conunue
to monitorthe stuation,
particularly
asthe Internetreplaces
Windowsas. day-todaysoftwareplatform.
lnlroduction
lHansAberlander,CEAof the Auta Caea?ion, askedme to wnte this.epod / Thisrepart was
cammlsionedby Hans
Oberlande,CEAaf theAuto Carparatianlhe'1aln / scopeof the rpo.ti5to mak a lonq-lermlorecdstof trendsin the
snatket far ail t oil narket, and to analyzehow th future pnceof oi w impdctthe autonrobe indunry.a/, particular
/ Especra//y,
the reportwil look atoLrrown cornpany.the Aulo Corpordlon,and whetherwe are positoned 10 meet
futLrrechdllenges
in the m.rketpiace
Oil market
The pr ce of oi h.s bef ifcrasing5rteadl / rread,i),sincaro! nd I 999 Th s has beendrivenby facto6 on both the
supplysideand th demandsid On the supplyside,lotal wor d o I prodlcion has nowpedked,wth no 6i/9nlFl.art
/ rignifi.artt new discoveries
on the horizon lTalkingabaut denand / an the demandside,rtie grcwrh of economies
s u c ha s C h n a a n d I n d i ah a sm e a n la h u g i n c r e a r en t h e c o n s u m p t o n
ol orl
Ov aresearch
shows/ researches
show that thesetrendsewl / are likelyta .otitrnue.and that oi pricesw rena n
h g h f o r t h f o r e s e e a bfluet u r e T
. h i sw i l i n e v i t a b h
l ya v e l a f a r c e l a n l | r , p a c t o n t h e a u t o h d u n r y . w t h h q h f u ep r c e s
c a u s n g c u s t o m e r 9 t o t u r n t o m o d e s w iot hw e . . u n nn g c o n s , s u c hl i k e/ s u d a s e e N ( . . a t s .
Fuelefficientengines
At Alto CoQorat of w cLrffentlymanLrfactu
re 1wohybrd e ectricvehrces that combne a convnto nal gaso ne eng ne
w t h a n o n - b o a r dr e c h a r g e a beee c r c b a l t e r y
Saesof thesemodes havebeetl)]disappainting
/tefflble, and for ih s repo( we askedan i.dependntrrcomparyahaa
daes na*et rcsear.h/ na*et rcsear.hrcnpany ra lacaffyon / cafty aut a suNeyto discoverthe reasonswhy lhe
surveyshowedthe fo lowing arcasa1 Itanxiety/ .ancernon rhe part oi potenlal cunome6:
. T h e r e a t v e y h g h n i t a l p n c e o f h y b n d c a r s d t y p t c a lIl yt t p E a la h y b td . a r p a y sl o r t s e f i n t e r m s
ol ower fLrelcons aftr about threeyears
. Thefact that hybrd cars11areunableto go very fast/ qo slorylyThe addltonale ze and we ghr of the
batterypa.k meansthat the conventonalenginehat to be smaller
and rescuework6 will qer ecrroclted by
" The addedrsk n an accdentihat the driver,passenqers
t h e h i g hv o r a q e n t h e c a r .
Conclusions
ln the ght of the above rafaundinqs/ findings.we rcachedthe 1enext/ follawinqconcusions:
s ' z o i n u e a s i n/gnl ya r e a n d n o r e w a f i l u e ' e f f c i e n rm o d e s ,n c ! d n g e e d r ( c a | s , d u e
" c u s t o m e rw
io cont nu nq h gh o prices.
. Governmentlegh ation on reducnq the emissionof greenhoutegassby automobilesw ll a so drive
the 2 trend/ tendencyawaylrom convention. engrnes.
. Auto Corporationhas been slow to reepondto the (hallengesahead,
"because/ due ro customer
resrstance
to the currenigneratonof elecrrlcvehcles.
Recommendations
There
aretwo':rmal,/ mostt portdntrecommendalions
wewould ketomake:
! The Board of Auio Corporationneedsto take a lonqer-termvew of the market,!'paying nare
aftentionto /thinking abour the priceof oi in B nrategi. decisons
, Auto Corporatonneedsto inven considerably
rnor"noney / financialresaurces
in R&Dio deveop
a new qeneratonof safe, nexpensive
and reliabe eectr. batteres.
144
- REVIEW
70 BUSINESSREPORTs
AND PROPOSALS
Projectscope
The prolectwill inc ude the iollowingacrivite5
. dentifythe best locatonsfor CCIV camerasand insralth
.
Conclusion
that you contractolr cornpanyto nstal
A t metabefor the diflerentphases
ol the prolecti, included we recornmend
a CCry systeminsideFashionSLJperstore.
Ths systemwil
as an append
x. we estimate
ihai the tota time requredfor
reduce
yourlosss
dr.matrcally
dueto shoprit n9.
th s prolects two weeks.
n .dditon, the syslemwill hep providea saferenvironment
Delivef.bles
for th s projectw I ncLrd
. Approxmately30 CCTVcamera!,wth two aseociated tor shoppe6.Whentheyseethe cameras
theywl feel ess
worned
.bout
dangeE
slch
as
eav
ng
their
bagsLrnattended
monrtors
at the cenvaldesk,alllu ly insialedand(he(ked
on
lhe
foor
wh
e
they
ook
at
coihes
Th
s
safer
environrnent
' All addiionalmateralssuchascabes.
ir I klyto leadto shoppeE
spending
more
time
ns
de Fashon
" A threeday training proqramfor sec!nty personneL, Superstore
andtherefore
rpendingmorernofey.
ncudng how to work the Cameras
and monrtors,
and
I w ca youon Wednesday
6 lune to d sclsethe nen neps
ful slmuatonsof shopliftng eventsandhow to dealwith
We
ook
fotuard
working
youto createa morescur
lo
with
program
them We haverun this
in oversixty
successiully
andmoreproftabeFashion
Superstore.
lmplementationand deliverables
145
Discussiontopics
Unit I Page6
n yoLrrcountrywhat do peoplethinkabouttheissueof free
lradevs protection
sm?What isyo!r own view?
jobs n someindust.ies
2 Freetradecreates
and unemployment
in
othersWh ch?Why?
3 Shouldcertainlndustries
be prctected?
Whi.h?Why?
4 W o r ki n s m a i i g r o u p s :
o Makeyourown listof argurnents
in favourof globazalion,
ano ar9umen15
aqarnsr.
0 Putyour st on ihe tablein fiont of you so thai everyon
can
seeit. Wa k roundthe rcomand lookat a the lists.Wl te
downone or two questions
that corneinto yourheadasyou
I
Unit 2 Page a
1 'Thecyce of boomand bun isoneoI the wondeEof capilalBm
its whatSchurnpeter
ca ed "crealve dstructionhSthe process
by which neficent nduniesget.epacedby innovative
new
ones.Attemptsby poicymake6to preventths cyclelustsupport
od fashioned
indunresand makethe economy
lessdynamcover
the longterm.Uslalytheseallrnptsto controllhemarkets
larl
L Agree liDisagree
2 Are you bul sh or beaishon the generalnock marketin your
countryrightnow?Why?rstherea parlicLrlar
sctorof indunry
whereyou hod the oppostevlew?Why?
3 f the busnesscyce exns, wherearewe on the clockon
page8 rghi now?(Thnk aboutthe folowng qlenions.was
the ast nterestralemove!p or down?ls th nock markel
rsingor falling?WhichsectoGa do n9 wellar the momenr?)
Unit 3 Page10
1 Whai areasof conflct arelhere kelyto be betweenan
exporterand theirfolelgnagenVdistr
butor?
2 W o r kn s m . l l g r c u p s i
o Frst,chooseale o{ iheseproducG:smalip anic childrcns
toys,herbamedcines,h g h definfton ry screen!to hangon
o A Vietnamese
expoderwantsto sellthesegoodsinroyolr
market,andyo!?e inierestedn beingthe r agent They
needyourlo.a knowledqePfepafe
fof
a shortpresentation
themon the opportuniiesand challenqes
theyface.
dl Useyourown ideasand strucllre,alihouqhthe sevenbullet
poinison page10 nraygiveyou a few ideasto get siarted.
o Whenyou fn sh,giveyourpresentation.
Unit 4 Page12
I Staningyolr own business
vsworkinqfora lalgecompany:
what arcthe differcnces?
Thnk of an exampeof a srnallburiness
that failed(perhaps
from peEonalexperence,or the experience
of friends4amily/
colleagues,
etc).Tellthegloupaboutthe business,
and why it
failed.coud t havesLrcceeded?
W o r kw t h a c o e a g u e :
o Youhaveeach nherited0.5mfrcm richaunts(1mtoral)
and now wantto starta busnesstogeiherDecidewhaiyour
146
Unit 5 Pag14
I 'TheAngloAmeicanmodelof putt ng the shareholder
firn
it badforthe employees,
badfor the communityand badfor
r Agree
.r Disagree
2 In yourcountryis therea lraditionof havng a nronq and
independent
Bodrdthar represenrs
the nterensoJthe
sharehode6andcan h re andine the CEO?
3 Whata.ethe advanlage5
dnd disadvanrages
of workingfor a
medium-szed
fam ly-ownedbusiness,
ascompared
to a a.ge
4 Faslherebeena siory n the neM recentlyaboutweak
corporategovernance
at a padicularcornpany?
Perhaps
ii ledto
a tinancialdisaslr,
or a corruptonscanda,or somethingese.
whal do you knowabouiii?
Unit 6 Page16
I Chooseone of the sx ssueslistedunder'Geopolitics
andthe
wodd e.onomy'on page16 Discuss
it wth somecolleag!es.
Whenyou linsh, chooseanother.
2 Chooreone oi the sx replesg vnin the 't\4anagment
,nd
businesssection.Dscussii wilh sornecolleagues
Whenyou
finish,chooseanother
3 'Wecannol.educeenerqycons!mplion.No-oneis goingto
voluntailyaccepta declinein the r lv ng standards.
Fightng
qloba warmingis useess Wete al go ng to fry.Lellhe
cockroaches
and ratr takeover- theywereherebeforeus
. Agree
Diragree
4 Globalizaton
hasgonetoo far.'
- Agree
Disagree
Unit 7 Pagela
Lookingal the threeb.sicmanagenrent
stylesmentonedon
page18, wouldsaythai my own stylels (or wouldbe) ...
'Goodrnanagers
areborn,not made.'
, Agree
- Disagree
Lookat ihe f ve mainheadings
under'Pelsonalqualitiet
n the
pe6onspecllcaion.Canyou addanotherfew itemsunder
qua ties.
Drawa mindmapol you own personalrnanaqement
PLrtyounf in the m ddle,then havean nnerringof headngs
lk the fve ln the pe6onspecilcation,andfinallyouter
branches
that showyoLrrqlalilies.
Useyourown ideas,butfeelfreeto usethe deasin the unrtas
Whenyou lin sh,showyolr mindmapto a coleaqueand
Unit 8 Page20
I Lookdi the listof sixtime managernent
tips in the text on
page20. Canyou add anyothert ps?Whichonesdo you
2 What isthe one ihinqthat you coulddo - nading tomorrow
-to manageyourtimemoreeffcienly?
DlscuSS|oN
roPlcs
3 Lookat what manageEmanageCanyou add anorheritemor
two underedchmainheadng?
4 Drdwyourown persona
izedmindrnapof'How lspendmy
jun think
time' lf possble,focuson tme at work Othelwise,
.bout yourt me n genera.
Whenyoufinish.showyourmindmapio a colleague
it
anddiscuss
Unit 9 Page 22
1 Plannng s the basisof spontaneitr/.'
,:) Agree ,.) Disagree
2 Harcd Macm an, a BitishPrrneMinister,
wasaskedwhat was
the qreatestdifficultyhe fa.ed. He rep ed 'Events,
dearboy.
events.G ve an exampeirom you own life of how events
yourpans.
chanqed(or destrcyed)
3 Brainnorming.
C osethisbook(everybody
exceptone pe6onor
On the board,writesectionheadings1-a {rcmthe contents
pageof the business
pan on page22. Everybody
brainstom
sub-sectonsfor
eachsecton.lt sn'ta memorytst
Unit 10 Page 24
1 'Leaders
and rnanagers
arediffercnt.'
.r Agree 1..IDisag.ee
2 A e a d e ra d m i s . b e c a u s e . . .
3'Leaders haveto takedifi cult decsons.you'llneverbe a leader
f you needto be kedby otherpeople.'
i ) Agree ij Disagree
4 Lookagainat the barchadshowngthe reslltsof the surveyon
page24. Doyou thinkthat peoplein lhe r thirliesspondedin
the sameway aspeoplen theirfifties?Do you thinkrhat rnen
responded
in the sameway aswomen?
5 Talkabouta recentoccason whef you successfully
lnflue.ced
someone(or a group).Describe
how you d d lt.
Unit 11 Page25
1 f youte working,expainthe tvvoor thleebiggenrsksthat
yourcompanycurrentlyfaces.f you aren'two ing,talk to
a irend or familymernberwhohasajob and knowslhe t
business
wel. Askthemaboutthe isks ther companyfaces,
and thenexpan themto the dassin the nextleslon.
o anyonewho madea work-related
insurance
clam?
's anyonewho failedio checkthe smal prnt on a legal
o anyonewho wofked n a companywherethe.ewasa case
oi embezzlenrent?
t youransweris 'yel to anyof thesequestions,
tellthe nory
I 'ln Amercapeoplea too quickto sueeachother'
i .i Agre il Dkagree
4 what isyourown attitudeto isk? clve an eEmde of
something
ln yourlifethat you nearlydid, but decidedagainn
becauset wastoo r sky.Do you haveany regretsaboutthat
unit 12 Page28
1 Didyourcountrygo throughthe samecycledscfibed
in the
text:manutacturing
boomin ihe mlddleof rhe lan century
then dec ne,then rebirth?lf not, how andwhy was it
Unit 13 Page30
I 'Faclo.iesthat
makerea thingsarcthe heartof n economy.
Therefrce dndfinancidlsclo|s
arciun peopesmilingdt
cunome6and playingwilh compuieu.'
: 1,Agree
,r Disagree
2 Doyouwork in a faciory?lf 50,drawa diaqramon the boad
to showthelayout.Thenexpdinwhat happensin the different
areasof ihe lactory
lf nol, haveyou everbeeninsidea fa.tory?Descrlbe
whatyou
sawandyourgeneralimpressrons.
3 wouid you be prepared
to do shftlvorkin a modernfactoryif
it wasan nteresting,
well'paidiob requirn9 somerki ? Why?/
Unit 14 Page32
I Howdoyouthinkthedayro'day
workof a purchas
ng
manager5 dflerenllo the work of othermanageEin the fleld
ot production
andoperalion9?
prccess
2 Managersnvolvedln the prccuremeni
wi spenda lot
of thentime negoliatn9 Whai do you knowabou negotiation
strategies
and tactcs?
3 Do you knowany newsstoresaboui.ompanies!s ng bribery?
Or maybeyou you6ef havebeenin a 5iluatonwheresomeone
you to givelherna sriall'giii'lo obia n a servce?Te
expcted
4 rf youte wo*ing, talk aboulhow 9 obalsourcinghasaffected
yourown cornpany.
li you'fea student,surnmarze
what you
havelearntaboutthistopicon yourcourse.
Unit 15 Page 34
I SCMmeansthal the manufaclurer
hasto sharea ot of
commercial
infomationwilh !!pplielsand customers,
treatng
themlikepartners.
Are thercanyrisksto this?
2 Compareair,sea,rcadand r.ilfrom a ogisticspo nt of vew
3 Workwith a colleagueDrawa m nd mapof ' ogisics' showing
whatlhe lerrnrneanslo you.C osethis bookbeforeyoLrstart
and useyourown ideas.At ihe end,comparewith anotherpat
4 Makenotesto preparea presenlat
on on'Logist.s nmy
company'.Uselhe headinqs
and deasfrom exercse 15.4
to helpyou.Whenyou finish,giveyourpsentation
unit 16 Page35
1 Doyou knowanythinge seaboutTP5,J I eanprodlctionor
kai2enthat s not mentonedin the textT
2 Howcouldyou changethe orqanzationof youf own workpace
to elimnatewaste(of t me,moneyand materals)and improve
producrivlty?
Drawa m nd mapto showyoLrrideas.Whenyou
linish,explainyour deasto a colleague
usingyo!r m nd map.
lf you'rea nudent,you cando thisactv ty lor anyp.ir-t rnelob
14
DtscussroN
ToPtcs
Unit 17 Pag38
1 Whatdoesthe word'qualty' meanto you?Brainno.masmany
ldeasaspossbleandwritethemon the boad.
2 What eke do you knowabolt IQM beyondwhat is
mentonedln the text?
3 Doesyourown organization
haveprocedurcs
to checkqudlity?
lf 50,descibethem.
4'You getwhat you payfor': is thisalwarstrue?Thinkof sorne
examples
for bothsideso{ the argument.
Heres an ideaio get you started:
A packetof hgh price,brand-name
cereals
iesittingon a
supermarket
shelf Nextto it on the 5helfisa packetof the
superma*et's
own-labdbrand,selingdt a lowerprice.The
contentsarc identica- the supermarket
boughtthe cereals
ircm the manufacturer
and packagedthem.
Unit 18 Page 40
1 Thef rst paragraph
of the text on paq40 suqqertsin a
hurnorous
way that salespeopleand marketingpeople
sometimes
don'tva ue eachothefswork.In yourexpe.ience,
is
ih s true?
2 Brainnorme ther 'Whatqualiliesdoesa saletpe6onneed?oi
'Modernsalesrechniquel.
Cloreyourbookbefo you stan.
(t isnt a rnemoryexercse.)
3 Canyou thinkof anysituations
whee a 'had sell'mighl be
4 Thinkcafullyaboutthe an timethat a salesperson
soldyou
somethng. Howdid lhey d scoveryolf needs?Howdid they
presentthencaseTHowdd theyhande yourobjection!?
Are
thereany specialtechnquesthat theyusedbut rhatyou werc
unawareof at the t me?
Unit 19 Page 42
'
A welfl.own tloga' 'o c-stome.sea,cers 'U.derpromise
and oveFdelivef.
Wh.t doesit mean?Do you agrcewith it?
2 Haveyou everheardof a 'ChiefClstomefseruice
Office/?
Why does'customer
service'haveslch a low priorityinside
3 Tella storyfrcm yourown experience
aboulan exampleof
paftclladygoodor particulady
badcunomerseruice.
Whatare
I Worl . s1 all Sro-ps Era,.srorm
d..('or.usron.r $rvre
'Lttle thingsthat rnakea big difference'
underthe headings:
and'Don'tforgetyourexilt ng customers'.
(lt isn'ta
Closethe bookwhileyou do the brainstorming.
yourideaswlth the class.
Whenyou fnish, discuss
Unit 20 Page 44
Eachpe6onchoosea productthatyou havewith youtoday
(es in a baq or an objectin the.oom).Foreachproduct,
d scussthe targetmarket.
Do the fo owing:
o On the board.drawthe four headings:
Product,Place,
Promotion
and Prce.
(a sinqleword
. Eachstudentchooseone item of vocabulary
phrase)
or.
fo' eachheadingthat you thinkyoufcolleaEres
won't know Youcanusea bilingualdi.tionaryto hlpyou.
148
Unit 21 Page 46
1 Lookagan at the thirtyadjectives
descbingfeaturesin exercise
21.5.How manyotherscanyouthinkof? Brannonr ideason
the boa.d.lqnorceasy.obviouswods suchds'expensve,'fast',
2 Thinkof an xampleof a prcduclwith poo y designed
packagingHowwouldyou improveit?
3 Eachmemberof rhe groupchooseone perconal
item that
you havewith you today Choossomething
that hasa nrong
ma&eting(ampaignbehindit. Takea few minutesto prcpare,
thendescribe
to ihe group:
. the productsfunctionabenefils
. the produclSpsycholog
cal bnefts
. the brandimage
o why you chosethit particular
model( I the productis partof
producb)
a lineof
. whetheryou thinkthe maAetng campagn nfluenced
your
Unit 22 Page 4a
I Whaiareihekeyelements
of rnerchandis
ng(howprcducis
a
arranged
anddisplayed
lnside
a nore)?
2 Howis technoiogy
changingthe faceo{ retailing?
G ve some
exampesfiom yourpeBonalexperience
3 Chooseh^/oor threeretailers
that all sell n a s rnilarmarket.
Dilcussihe d fferences
bebaeenthem.
4 Dict markeing (calaLogues,
ma shoB,ry shoppingchannels,
adsin the presswith a toll-fe number)s oiten ignoredn
discussions
aboutmarketng. Howdoesthe dstibuton channe
atiectprcduct.promotionand pri.e?
Unit 23 Page 50
1 lt3 in.asinglydifi criltto reachcustomers
thfoughadverts ng.
Meda channesarc becomingevermorediverse
and
lgmented.what is the advertising
indunrydoingto meetthis
2 'Thebetteran advertisement
s, the morepeoplerernember
the
advertisement
andthe lesstheyremember
the product.'Can
you thinkof an exampe of th s?what arethe mplicatons
a)for the advertising
agency,
and b) forth clientcompany?
I work wilh a colleague.
[/ake a mindmapwith ihe word
'P.omotion'inthe middle.Close
ths bookbeforcyo! start
(li isnl a memoryexer.se.)Whenyou f nish,walk around
and lookat otherpeopleSmindmap'
4 Do yolj agreewlth what ir wriiten n everybox in exercise
23.5?
Unit 24 Page 52
1 ls it true lhat rnarketers
talk lessaboutpricethan about
ptoduct,disnibutionor prcmolion?f so,why do you thinkit
2 lt you work in the marketinq/sales
apa, describe
how pricesare
setrn yourown .ompany.
TOPICS
DtsCUSSTON
3 EachpeEonchoosean ltemthat you havewith you now (e9 in
youf baq).t hasto be one whe you rememberthe
exactprice
. Showlt to yourcolleagues.
Fi6t let themtry to guessthe
a Saywhat the pricewas.
. 5a) 4LFrhe,ar rhe lrnF ro . rroughrlh6 w.s erpensive,
reasonaD
e or cneap.
a saythe absolutemaxmumthat you wouldhavepad ior ihis
a Discuss,
froma marketingpoLntof view whetherthis tem
was pnceocoffecry.
Unit 25 Page 54
I Naveyou evertakenpart in ma*el rcsearch eitheras
your
Describe
a poientialcunomeror asa researcher?
Workwith a colleaguePrcduce
a mindmap:
a lf you'rework ng, useideaslmm yourcompanyand write
'Our marketng strategy'n the centre.
. lf you'rea nudent,useideasyou've
nudiedon yourcourse
and wrte'Elementsof a marketingnrategy in ihe cent.
r Whenyou finish,wa k aroundand ook at othrpople3
mindrnap! Discuss
them.
Presentation.'New
PrcductDevelopment'.
Workwth a
colea9ue:
. lhink of an idafor a completely
new product.Youte goinq
to prcsentthe conceptto yourcollaglet- makesome
gvingthepresentaUon,
whi.hperson
willtalk
Before
decide
- youcan
points.
presentation
whch
willbe
about
lt
a team
change
thepresenter
onceor severa
times.
giveyourpresentalion.
Whenyou'reready,
Youfcolleagr.ies
shouldlislencaretuy,lakenotes,
thenaskpractical
Unii 26 Page 56
1 Followthese nstructonr:
Studythe text on page56 one moret me.ln a moment
vou re oo'q to tl to wlle dow^ re eemert5of a'Incone
pieceof paperNo figus areneded
statementon a separate
just the headings.
You'Ldo ihs wlth the helpol a pariner.
C oseih s booknow andnart.
2 Yourun a chainol sma cotfer'snack
ba6 in yourcouniry
(Yournearestcompetitoris Starbucks.)
Lan q'ranei both
revenueand costswercabovebr.idgei.Ihsbalanced
out, so
thatthe operatingprcfitwasin linewith the budgtedfigu@
Brainnomaemanyrcaronslor ihs vaian.eas possible.
Unit 27 Page 58
1 Fo ow theseinnructions:
a Studythe box'Whatcana balance
sheetshow?'at the
bottomoi page58 one moreiime.
Writedownon a separalepieceof paperthese
words.
hquidirl, leverage,baak value andprafitabiliry.
Workingwth a padner,writea shortparagaphthat
expalnseachof thesecon.epb.c oseyourbookbefoGyou
beginl
lsthereanyonen the groupwho knowsaboutac.ounbof
Investing?
Askthemthis:'You'F thinki.g aboutinveningin a
company.
but canonlylookat one flnancialdocument,either
the incomestaternent
orthe balanceshet;whichonewould
you choose,andwhy?'
unit 28 Page 50
1 lsthereanyonein the groupwho knowsaboutaccounting
or
investing?
Askthemto explainwhy the studyof a companys
cashflow is important,and in partkuarhow t showethings
and
that cannotbe seeniustfrcm ihe P&L(incomestatment)
2 Howdoyou manaqeyourown peEonacashfow? Do you
havea negativebankbalanceatthe endof the month?
aTways
Howcouldyou manageyourcashbetter?
Unit 29 Pag 62
1 Lookagainat the nory ol Manuelain exercBe
29.5.Whatcould
she(andthe otherplaye6)havedoned ffrenily?
2 Workin pairs(A and B):
. Backgrcund.
StudentAand StudentI work in the accoLrnts
department!of two differentcompaniesArcceveda arge
invoicefiom B an month,but st ll hasn'tpid t (d!e 10A's
own internalcash
flow probems).
. Pe6onalize.
A and B now prcparea few moredetaik
logelher.Whatislhe busnssactivty of the two companies?
Whalwasthe invokeior? Howmuchwat ilfor?
o Roleplay.Sil back1oback.SludentB rnakea telephonecall
to StudentA abourthe unpaidnvoice.Trylo negotate a
sertlemenr
that is goodfor bothsides.
Unit 30 Page 64
1 Followtheseinnructions:
o studythe telt, g.aphsand exercseson page54-55 one
Wite on theboadthewords'breakeven
analysl,
'operating
Leverage'
and'contrlbution
rnargin'.
to Bs
workin pais,A andB.Coseyourbooks.
A5explain
w' ttenon thboa'd Bsshoud lisle'
rl'errreeco.ceprs
questions.
askoccasional
andhelpif necessary
. Keepthesamercles,burworkw th a newp:rtner.NowBs
haveyolr turnto explain
whileAs isten.
2 lf you'reworking,explainhow you analyzeprclitab ty n
yourcompany.
lf you' a siudenl,descrbeanyotherareasol
managemeni
a.countingthat you'vestudied
Unit 31 Page 66
I 'Financial
marketshaveI ttle to do with the realworld.li'! jun
yuppesin frontof computerscreens
overpaid
chasingthe latest
financialbubble.'
,j agree -- Diragree
Lookaqan at the tablof playeu n ihe ma*ei on page66
Cdnyou add anyextrainformation
abolt anyof theseplayers?
yo!r job.
l Do youwork in lhe li.ancialmarkeis?
Describe
Thebondmarketandforeiqnexchanqe
marketaremuchless
well knownrhanthe srockrna*ei bul th amountot rnoney
tradedon themisfar larger.Canyou explainwhy theyget so
litle publicand meda attention?
Unit 32 Pag68
Doyou followihe stockmafket?what is happenng at the
moment?Canyo! xplainthis?
Do you personally
own anyrtocksor funds?Whydld you
choosethem?Howoftendo you checkthek prce?Whenw
lf you had10,000to inven n lust one stock,whichonewou d
14
DlscusstoNToPtcs
Unit 33 Page 70
Unit 37 Page 78
yourcompanys
I Describe
prccedure.ls
recruitment
it successful? 1 Producea SWOTanalysis
for a companythat you know lt could
Howcouldit be improved?
2 Wofk on yourcV (resurne)
for homework-ifyou needto.In
a Putthe CVson the wall rcundthe room.(Altematively,
lay
thernout on the desk.)
. Go rcundand lookat otherpeoplesCVs.Youmaybe able
to get somenew ideas.
. Go backto yourdeskandwork with a pa(ne. Readeah
othercCVscarefully.
Discuss
themtoqether.
. lf necessary
makeanychanges
to yoLr.CV
lfyou don't wantto wo* on yourown CV or you think it istoo
pe6onal,thensimplyhelpothe.peopleby rcadingthet CVs
andaskng questons.
Unil 34 Page 72
I Howmportant
youworkina creative,
s pay?
Would
elsfying
job if thepaywasn'tverygoodT
2 Whatdo youthinkaboutpedormance-.elated
pay?
3 Areyoupaidwhatyou?eworth?lmagine
thatyolle talking
to yourboss,
tryingto persuade
themto payyoumore-(Youve
jo
beeninvited
to n another
company
ro youarcspeatang
from
a position
of singth.)Explain
whytheyshouldpayyoumore.
Unit 35 Page 74
1 Lookthrcughalltheworkplace
issuer
on page74.Areanyof
theselhe sLrbject
of discussion
in yourworkplace?
2 Lookatthefolowinglistof workplace
issLres.
Whichonesare
moreserioLrs
andcouldeadto dismissal?
a arriving
lateandleaving
ary
a beingdrunkat work
a bLrllying
andharatsment
a oamage
10prcpefty
. failingto followhealthandsafevprocedures
. personarappearance
a personal
useof thelnternet
oLrtside
of renperiods
Choose
oneol theissues.
Wfitea short,imaginary
diatogue
benee^l^e nanager
ald enployee
whererhissue
is
discussed
for thefirsitime.
3 Doyouworkin HR,or doyouknowanyone
whodoes?
Whi.h
partsoi thejob,besdesrec.uhment.
takeupthemosttime?
Unit 36 Page 76
1 Pract
sespeaking
abouiyou backqround
andcarer:
. Wtirea shor.c.pl - '" ten on page/6 w lgve yousome
deas.
Whenyoutereadyrcadit aloudto yourcolleagues.
Yourco eagues
shouldlisten.
makea fewnotes.
andask
quest|ons
at theend.
. n thenextclass,
lookal yourscripr
againbriefly,
then
put t away.Nowworkwltha colleague.
your
andexplain
backsround
andcareer
asa freespeakjnq
exercis.
Your
pairner
quenions
you
shouldaskclarlfication
andencourage
to givemoredetaik.
150
Unit 38 Page 80
I PBctis
speaking
abolt yourjob:
. Wile d shorls(riot- lheled o. pdge80 willgiveyoLio.re
ideas.
lvhenyou?eready,
teadit aloudio yourcoleagues.
Yourcolleagues
shouldlistn,makea fewnores,
andask
quenions
al theend.
a Inthenextclass,look
atyourscriptagainbrefly,thenput t
away.Nowwo* witha colleague,
yourjobasa
andexplain
treespeaking
exercise.
Yourcoleague
shoLJld
askclarification
questions
youto givemoredetais.
andencourage
2 lf youdon'thavea job,or asanaddiionalactivty,dooneol
thefollowing:
. Interview
a friendor familymember
andaskthemabout
theirjob.Tellyour
colleagues
n thenextclass.
. Thinkof someone
youknowandroleplaythem,descfbing
thenjob Remenbe.
ro say - no|he o' sle
Writing tasks
Unit 45 Page 94
1 Youworkfor an internationaphamaceuticacompanywitha
ben{ellingheartdrug.You' partof an international
team,
prepainga reporton compe|tors'prcductswoddwide.
a Wrltean emailto a colleague
in lapan,AkikoYamada
(a woman).Wite 4G-50words.
o Givethe reasonforwrit ng.
in iapan{ma*er
o Request
informaton aboutihe compelitors
sharc,advertis
ng).
6 otfer to provideinformation
aboulyourown market.
2 Personalizaton.
Wrte two ema s sirnilarto onesthat you have
to writein yourown real-life
lob Usethe tabe on page94 to
Unit 46 Page 96
Yo'r've
1 You'rethe financednectorof an ntemational
company.
just f n shedthe cornpany
accounbJorlan yearand the results
wereverygood.Howeverthe oltlook for nextyearlooksmorc
cha enging.Wite an emaI to yourcolleagues,
le ing themthe
news.Write40-50 words.
o G ve the reasonfor witing.
o G ve the goodnewsabod lan yearThankeveryone.
(| G ve the bad newsaboutnextyear.
2 Pe6onazaiion.W te two emailssim ar to onesfiai you have
to wrlte n yourown al'lifejob. Usethe tableon page96 to
Unit 47 Page 98
Fo ow theseinnructions:
o Lookone moret rneat emais1 and 2 on page98, and at
the two ern.ilsin exercke47.4.Thenworkwith a <olleague
to createa s milarbusnesslitlation:
What prcduct I seNicek the custoner interestedin?
How did the custoner find out about it?
what infamatian does the custonet want?
What infatnatian wil the supplet give?
o Now workingindividua
ly,wdte an enqulrybasdon the
situationyou cleatd.Notethatyou andyourcolleaguewill
be in the samerclewdlng a similaremal.
a Whenyou f nish,eKhangeemais and writea replyto your
colleague's
enq! ry Againyou will both be n lhe samercle.
. Whenyou lin sh,compareyouremailr.
on. Wrte a s milarpa r of emaikbasedon ones
Personalizat
thai yoLrhaveto writein yourown .|-lifelob. Usethe table
on page98 to helpyou.
WRITINGTASKS
Unit 55 Page'l14
1 Studythe graphsbeow Youmaywishto inventmoreconexr,
ior examplethe industrysectorand ihe nameof the company.
Q1
Q2
Q3
Q4
MarketShare
Lastyeer
lom@np-v
lconpetito,x
Thls year
lcometiiof Y Eorhe6
152
Interviews
1 Interview with a private equity investor
Exercises
1 Guessthe rnitsingwords (somelettershaveben
givento helpyou).
I Whena prvateequty firm buysa targetcompany,lt
uses
a newyjormedcompany
calledan 'SPV'(Specia
Purpose
Vehlce).Asan example,
halithe moneythe SPVneeds
(capltal
m ght comefromeq
provided
bythe new
ownersandihe existing
sharehoders)
andhaf mightcome
(abank o.n that hasto be rpaid).
2 AfterbLryng the targetcompany,
th prvateequty tirm
reslructures
t Thscannvoveab
dup (makrng
th
'b
(mak
companyarger)or a
ng lt smdler)
k down'
3 Afterrenructlrrinq,
the privateequityfirrnneedsan e t
srraregy.
4 Thre
aremanyotherp
sinvovednthebuyout
process,
includnq a
rs,t
consultants
andbusness
consuLtrnq
compan
es
2 if 16 Now listento the interviewand rh(k your
3 Listenagainwith your eyesclosed.Thenlistena third
time while you follow the script(page157).
4 Discuss
any inlerstingissueswith somecolleaguer.
Glossary
due dtl,ger.e investgation
inlo the delaihof a potential
4 Discuss
anyinteresting
is5ues
with somecolleagues.
Glossary
.apitalgain a ptaIlIrcn mo.ey you havenvested
.o//ate|.l prcpertyor othergoodsthat yo! promiseio giveto
ihe bankif you cannotrepaya lorn
rctufti'h rcpata.tl mprovea buildingby ceaningand
paintng 1 elc.
clossary
asressment
. whichyoLrmakea lldgementabouta
a process
arrersorsomeone
whodecides
hasdoneIn
howwellsomeone
pttd tryto sellsomething
bysaynq howgoodit i5
ptionof a partcularsiluaion w th a
tcera.toa wr ltendescr
p L r . e . o n p r d d e . \ o l e b d . r q , o - d - f o r ^a l , o n . o . e
th ngs that may happen et.
153
INTERVIEWS
2 tf 19 Now listento the interviewand checkyour
a gentcally
modiliedcrcpsihat respond
wellto chemlcals
b runninga focusgroupof larmls
a generous
discounts
for long'termcustomere
for the chemical,
b payrng
norwith money,but with crops
provders
. workingclosely
wth th rd'partyoqlstics
b differentd nr buton channesfor big,mediumandsrnall
9rowers
1 What ! a 'keyaccountmanager'?
2 Weallhavean
deaof thetypcalwork
oi a sales
consu
tant
but how s thisworkdfie.entif it is in the B2B(businessto-business)sctor?
3 Wlth a 'coldcal', how do yor.r
stopthe otherpersonpulting
downthe phonewth n fiveseconds?
4 A I saespeope facethe standard
objection
thatthe c ent
a readyworkswith anothercorapany,
or thatanother
company
isofferinga betterprice Howcanyoudealwith
5 Insidea company,
whatotherdepa.tment
rnightcomeinto
conf ct wth SalesT
Exercisei
I Thetable below showshow the Iinan<elunction can
be dividdup in a largecompany.Completethe table
with the words in the box.
Treasurer a(counlsp.yabe
Glossary
cold.a/ an !nexpected
telephone
callbysomeone
tryingro
whaito do asa situatlon
deveLops,
?/ay it by eat'decide
ratherthanplannngwhattodo
ProsPectspotentiad ent5
testimonia,
a wrttenslatemeni
abolt howwellape6onor
organizaton
hasdone,provided
bysomeone
whohashad
previous
contact
wilhtlrem
(income
prepaf
Chief
ingaccounts
statement,
'
o
Accounting
statement,
balance
5
preparing
Officer
taxplannng
Financial
controller
Director
151
.. {acl ty)
nternalauditing
budgtnq (6
and a.tu. bLrdqet)
f n a n c i .p l a n n i n g
betweenplanned
sLrpervis
ng the ihreepeopleabove
takingissues
to the seniormanagement
tearn
7.....
corporate
.-.....
...
wolk ng with externa
f nancinq
of largeprolcts
IiIIRVIET5
Glossary
apprairalan nteruew (oftenannual)betweena manaserand
perfomance,
wheretheydiscusihe employee's
I an employee
trainingneedsandfuturecareerpath
.omperrat o, saary and benefits
equal oppodunitiet whe@everyonehasthe samework
oftheir
opporiunilesand no-oneislleatedunfairlybecause
gerdel the fad of beingeithermaleof female
155
Listeningscripts
Listen and repeat exrcises
$ rractrI
Exer<is
39.7
G@d moming, ICT. Tssa speakinS. How .d I hetp you?
Pleasehold while I 1,-yto comect you.
I'd lite ro speak to someone in you a.osrs departmdr
The reason I m callin8 is b<alse of rhe sat6 6g!es.
How nice to hear f.om youl
Thanls for calling , did yotr get mt email?
ls this a 6ood rime to ralk?
Are you in the middie of something?
Is thse anythhS else I cm help you with today?
OK, leave it wirh me , I ll call you tomorcw afiem@n.
S rrack2
Exercise
40,5
Justbearwith me for a monent,
Right, etry to keep you waiting.
Sorry she s out of the officc rhis aftemoon.
Whafs it in comectionwith?
Can you askhim to call me b.ck?
would you likdo leave a me$a8e?
Lct ne j6t 8et a pen. OK. Co ahead.
Is that i' asin ltaly,or 'e as in E8ypt?
Let he read that back to you,
I Il nake suE he Setsthe ne$age.
$ lrack 3
Exercise41.6
Canyouspakmoreslowl, plea*?
Sorr l didnt carchthat,
Did you say fffty/ five-zerc?
Whatexa.tlydo you meanby 'shortterm,?
kt mejusrchel tharI undeBtand.
CanI juotto overthaiatain?
Canyou speakup a bit?
Its a reallybad!ine.Youkeepbrcaking
up.
My batteryis very low.
Wegot cut ofi Sorryaboutthat.
S Track4
Exercise42.4
Whartime would be goodfor you?
Whattime areyou tni4king oi?
How aboutFebtuaryihe ninth?
Could we mle it the folowing day irutead?
Would eleven-thity suit you?
I d pefer a bir l.ter if you doh r nind.
l ll sendd emailto confim the d*ails.
Unfo.t$ately I cet mal<erexi TlesdaJr
So@thinAu8ent hascomeup. Canwe Eschdule?
I hopeit s not a probld for you-
S rracks
Exercise
43.6
- _,
We .eceived the oder ihis moning bui you only shippd BOpiG.
There semsro be a problem wjth the invoice.
I do apolo8ize. I n sN we cm sort out.
What exactly is rhe prcblem?
I ree.l to ask you a few quicl qusrim.
Cm you leave it with me?
I ll look into it md ger back to )'ou rhi. aJtemmn.
O Track6
Exerdse51.5
Before I bgin, I d lite to thar* lrnqoise for inviting me here roday.
On behalf of BCC Intmational I'd like ro welcome you here ro ou
tf,t me start by inrroducing hyselJ.
ItE aim of thG preseniation is to give you an overis
oI ou
S rra.k 7
Exerdse
52.5
OK. tat s move on to rhe next point,
I ll come bacl to this in a momenr,
It miEhrbe u*Id to Eivea little backS@undhere.
Llt me explain with a coh@te example.
I thinl< thee aF thFe quetions to focus on.
What is the reason lor this? The leason is rhe desi8n.
As you can se on this next slids rhe trend is up,
I d like to hiShlighfiwo lhjn8s on this chart.
AE there dy quesrioE so far?
Does anyone have any comments?
S lrack 8
Exercise53.4
Ri8ht,that brings meto theend ot my presentation.
Justto suhmarizethenain pointsagain..,
Tl'ank you all for .oning. I hopeit s beenusetul.
I ve tot sne hedouts here.I'U pa$ lhem lound,
Heel my enail in ca* you want to tei in touch,
Do you haveany qu$tioB? Y6, the genrlemanafthe ba.k,
Thats a very Soodpoint.
Thats m interestingqu6rion. Whars your own opinion?
I thinl thafs outsidethe*ope of this presentation.
OK, I $int there'stim for onelastqu6tioh.
Q Track 9
Exerdse 57.6
l DEt do you rhiil, Chris?
WtDt I'm tryinE to ey is we havno oihef option.
It Rs to me that we luve no ottr oprion.
Basicaly,we haveto lmk at brandinAin a new way,
lbm my point oI view n's worth it.
I totaly a8@ with you.
I a8R up to a point, but I cm seeoneor two prcblems,
Dd1 you rhink this is goinSto be very exp@ive?
Really?Do you thbl so?
I'n not sos@ aboutthat.
S Track10
Exercise
58.5
Sorry, I don t udeBttud - .d you ylain that again?
Cm you go over thai a8ain, plea*?
r I mdcrand
you core.ilt you'r in favou of oFrim B. ls that
nEht?
How did you arive ai th fig!rc of 1.5 milli@ effi?
LISTENII\IG
SCRIP]S
Could you be a little more sp<ific?
9orry thert bn a sliEht mismdeBtandin8
Perhaps I haven l expiaired myslJ cletulyLer me put ir mother way: ils a 6@d idea but it's t@ erp4ive.
Could I jsr say 6omthin6?
cm I jst finish my point?
S rrack11
Exerdse
59.5
There ae severalways we could deal with this.
Lefs l@k at the prs and cons.
On the one hand, it would eve time. But on the other hand, it would
In gneFl I agree, althotrgh the cost may be too ligh,
Can I make a suSgesrion?l$iead of waitin6, why dont we do
lft s think carcfuly about the impli.atiotu of that.
Yes,I thinl that would work eally well.
I cd * one or two prcblems with that.
'Ihat
so6ds like a Sood idea, blt I don t thi.k it would work in
I think the best way foNard is to carry oui a sun ey,
lf rrack12
Exerdse
50.5
Antonio, this is you. field. What do you think?
Mile, after we re heard from Ros can we have you. views?
One at a time, please.lirst MiFlla, ths Claude.
Ill comeback to you in a moment,Nikola.
Pelhapswe could getback lo th main point?
I think we sbould move on now
We ned to look at this in moredetail.
Whai other ways are thereto approachthis?
Can we go round ihe tableto se if everyoneagEes?
O(,let's to over what we've discussede fai
S lrack 13
Exerci5e
61.4
OK,let's get down to buoiness.What eractly do vou ned?
Ior us, the prioritie6 ar qualiry and eliability.
When you say leliability', what do you mean?
How nexible can you be on price?
What do you have in mind?
What sort of quantity are you thinking of?
What kind oftimescalearewe looklng at?
what sort of figlre a.e we talkinS about?
what kind of glarantee cd you give 6?
Can I suggest oother way oI movin8 fotrad?
S rra* 1a
Exercise
62.5
We'd be prpared to offe. better terns of paymdt.
But orny if you inaeased your order
Wodd you be willing to a.cept a ompomjse?
OK we cfl agre to that,
Ihat would be very diffidlt for us.
I*fs just take a ooment to eview what we ve dsG*d.
I think thats as far as we (n 80 at ihis sia8e.
! don t have the aurhorily to nuke thai d{ision by my*lJ.
r you .m a6ree lo thal we cm d@ tlE dal to<tay.
5o, if you d jst like to sign hre.
S rrack15
Exerdse
53.5
That might be quite expsive
Codd I j6i intenpi lor a mommt?
Thee e@ to be a problem with ihe invoi.e.
It Km to me that you de being a little opnmistic
Actualy, this line is not very prcfitable.
That dGn t give us very mlch t1me.
To b honest, that wolld be very difiiculr.
Woul.ln't it be easis to ship via Hambur6?
We were thiiking ofshethinS arcud 5'/".
I lndsstood you had rh* prcducts in stocl.
lnterviews
S rra.k 15
I Interview with a private equity investor
PEI = Private quity investo.
INTERVIEWIR
I d likelot to .rpllin i little |bort Priute eq,itv.
I Edd nboutit in tte fnnnckt tnss, btt I'@ n@t MIU lntlenttud it.
PEI Sure. The busine$ or , private equi9 .omPany ]s to invest
money in two very sp<ifi. ways. The lirst wat is as venture
capital - that me.ns looking for a small stalt-uP comPany that
neds <.pital, tunding the .ompany to allow it to 8rcw, and then
larers.Uing ihe.ompdy to makea profit.Tldfs a *parate
bdn h oi privateequiry and jt's not whor I do.
INTERVIEWER OK. Whnt's tlp second@:t that p ute eqrit:l inbsts
PEI The other sideof privateequity is buy-outs,which is what I'm
INTERVIEWER so tell ntcd llttle nrcteoball lhal
PEI The6rststaEeina buy-outistolook fora tarEetcomPanyto
bul We call that 'scouting',A tyPicaltargetmi6ht be a mdiumsi2edconpany with a strcng cashflow where the ownels are
prepaEd to *ll a stakein lhe conpany.Fo. examPle,it miEht be a
cohpdy ihat d entrepeneur hasbuilt uP from scratch,but now
he or she's apprcaching retirement oi has olher pla.s.
INTERVIEWER OK. Sohou t|o lou achnlly brtl the conPnt!?
PEI Lrls inagine ihat 0r value of the tar8et is 40 nillion eurcs,
so we ned 40 million to buy ir. we will buy the ta!8et.omPany
'Special PurP vehicle"
with a newly{o@ed compmy called a
Half the noney that the SPV ndr 20 frillion, might come from
equiry The original shareholdeF *11 us their shales - they keeP
some oI the honey for thenselves, but renv$t the rst in the SPV
Prhaps ihey .ontribute 8 million of the 20 milion the SPV needs.
We prcvide the remaining 12 million. ln rhis emple we own
noE equity than them, so we have a contrcllinA stake in th SPV
U we oM less than them, we cal it a minonty interest.
INTERVIEIVER OK, sohor oJthe moi.! to br! the taryrr mm6 ds
eqtity, Jtun yowstus andlton the otigindl ;h.fehatdm. whnt |bort
PEI The other hau, ihe orher 20 million, .omes as debt. lt's a loan
Irom the banl. Thai's why it's caled a levsaged buy-out we
of ou om money to raise a ld8e mount ol
@ a smal eoui
INTER\aIEWER Right nfld 6 I thanhad it, lat tPqt this bankltun
tuith the clehjtu oJthe taryel conPan!.
PEI Thafs right The loa mi8hl re for a penod of thee to seven
yeia.,nd over Lhorpprod lnebu'intui5t leP: "llmine
no@[y md we Fpay rhe lom from the cash flow At ttLeen.t,
the SPV ow6 the cmpdy with no debt,
157
LISTEIIING SCRIPTS
INTER\,aIEWER yat sv 'flnniq nonell!', btt ol core priute
eqrity is .antnMsial tuca$e tufletin6 tlEre are bi8 dun86 dunng
ral 6tate companis in the past, but 6 soon as I felt that I'd
lemed sough, I left. I lamched my own b$ine$. Thar was
about two yea6 ago, Itt always been my dree.
PEI Sometimes there ae, sometimes not. The cds wher there m
big chmges de when we buy a public compmy listd on a stek
market, then de lisi n ed rstructu.e it md tho FlGt it after
we've nad it more profilable.
INTIRVTEWER Whit raprns duriry nt r6brctrn,*?
PEI comFrim"i wedoa bLild up l}dt mpft buyinEoLher
smaller companies and nergin8 them with the ori8inal tffget
comPmy to make a new,ldger more prcniable compml Oiher
times we do a'break down', That mem selin8 non{ore ets,
cuttinS costs,making the business mole eIficienr, dd Seneraly
refocusinS&e business.
TNTERVMER
Cr!th1&costsdtd l.oki'tg fot effciercy tins tlnl
sotnePeoPLeill la{ thcn iobs.
PEI Our ar8lnent is ttEt we make the whole brsinessmore riable
in the long rerm. People would have lost thcn jobs anlaay iI we
hadnl madc the nece$ary .hm8es soone. lather thm later We
tuke the comp.ny pofitable.
INTERVIEWER
INTERVMER
PEI Fist there ae the lawye6. Ihe wholc procs is very compler
lrom a legal point of view Then theF is a tinancial advier who
evaluatesthe value of the rar8etcompany- in fact thafs ny
own job. TXele a.e accomtinE firG to do the due dilige.ce
dd .heck the books of the targer cohpey to make sue that
everything i5 OK. There are tax cosdtnts
to make sue ihar
there is no ourstanding tax. Then there are rhe inveshenr banls.
They arrange L\e debt to buy the tal8et company. For exmple,
they 8o to comerlal
bank lnd p.e*nt the fiBue of the
tarSet conPany, the sinctue of the repaynent and so on. The
comercial banlGactully pmvjde the loan.Finally theear
business consulting compdies. They are the ona who analyze
how the business is Aoin8 io be rsttuctured or developed.
INTERVIEWER And a th6e ptuplegd a dne oJth. pie?
PEI Oh yes. If the value of the target is :!0 m ion ms, we miEht
actuaily reed to raise another four or file milion on rop to pay aI
these difierenl people.
0 Tra(k17
INTERTIEWER
LISTENINGSCRIPTS
discussion over l$.h. I was very djret with him, md very
honest. I told him that I was going to chmge rhe way I paid him
with a lower fired salary but a higher commission for each deal
that he closed, That solved everything - his perforlrrmce realy
improved and ererything was OK.
INIERVIEWR
Lt's go backagail to tlft topic ol thc WtunLty ol an
enttptll.Lr
l\. khtu that h. or slt is .Eati.te, dltelric, afld alnst
de.isioh nak L But 'tu1/b. an entftpft,ew is alsatuh@'1et'lo Sets
barul rynkl!
soth.y oft .ery Soadat stnttn3 ptujectsbut l6s Soadot
consoLidatnry
ord bundnls. nley lnit to nooe on and start so,tethttS
llNR
Yes,I think you are absolutely righi. That's $ hy every
ertrepreneur needs a Eood tem behind them. An entrePreneur
G dillerent to a self employed pe6on if yon rcaUy wmt
the frcedom to work ntirely on )o!r own, you become *lfINTERVITWR QK,ott lral thitl&.I hap.it s r.t tN Pnso,nl.l'N
ftrd that tr.pr.n?u$ oJ:tcnhaa?r dilf.ult Jritl! background,dth
dinr..d pdrcntsand saon. mis Sirrs thc,t tlte driue ta su..tut atu
makc o'I.u, Lrcnus?the! unnt th. s.crrity lll|ich thdt tnt hadds
EINR Well, iI we take my own family, yes, ny p.rcnts 8ot dn orcd
when I was your8. You know I'!e nler thought.bout it like thJr
belorc Imeanasa positile infllence, in a s.y Vcry inier6tingi
INTERVIEWER 6n.r. T/m,ls rr|v tr .i' Irt sfrish h.tt.
$ rrack18
3 Interview with a management trainee
MT= MandSefrenttlaiice
r/or'r.Son,Sro t /l !sa littlcnbortlotr
INTERVIEWER So,,4snrd,
!\Petun.es al an rsscsstnat c!1t\'.
@ntresto *l*l .nd
MT Yes.Many largecompaniesusc assessmcnt
rec.uitnewemployees.Tney.rem.inlyusedto.PeoPleihthcir
twenties,b<ause reent graduatesallhave vcry similarCVs and
so it's noteasy to choosethe bstc.ndidats.ln an assment
ccnhethecohpany leally seeshos youopelateara pcBonal
level,and thcycan spotpcoplc with future managementPotential.
INTERVIEWER OK,safst lell r rbart low o1u pnnicnl$cov.
MT I'm 27,and I appliedfor a posirionr{nhin a Sraduate
maragenenr traineeschemelor a IarE,intmationalcDnPany
in the hospiraLitysectorTh processstarredonlinq IiEt wnh an
application form, and ihen with a seri6 of tsts - numerical t4ts,
problem-solvnrS tesrsand so on. Aier rhat theP was a PeMnality
tesr,aEainodine. AIter passingall the tstsan.t s aitin8 a les
days Lretweeneach one, they did a sho.t telephone inten'iw
centre.
Finally, they asked ne to cone to the asment
INIERVMER
Whie uos the assesttrle"tteitft?
MT lt wls in a hotel rbroad ad it lasted for hLo davs. The! told
us tlait ihe IiEi day was ju$ ro meet ih othr people and to
uderstmd what was Eoin8 to happen, bur ol couR I 8ussd
that the assessmentwould be8in lrom th moment I arrirGd.
TNTERVIEWER Hou no V \teopk tu.re.hos ta go 10,lE nss5,,.rl?
MT They told us that there s ere 3,800cmdidat6 s ho had filldl
n1 dre initial application fom, and of the 38 rLere invired to the
INTERVIEWER Saetaetl! a1leh1a hundte,l. A'1dlnu nui! oJthoe i8
ude the! so4 to alfd n jab 10?
MT
INTERVIEI{IR
MT Yes.IiEt h e $ @ retested for ou nmerical and prcblemsolving stills, md they also gave us some logi. tsts md llFoflm8ua8e tests. They wdted to .h(k that it s s reallv s \!ho
had done the online tests, and not a matns genis brcthr o.
something like that! Then we aUwent lpsrairs for d inteNiew.
INTERVIEWIR
wlat kni oJintniaa?
MT It was a fanly convmtional one-on-one interiew, with an HR
mmaSr fron the .ompany. She asked me what I liLed abort my
last job, what the woEt thin8 about il w6, why yo! would Liketo
\rork for my compdy in particular nomal quesrions. Then we
had to give a Powerpoint presentation. I forgot to iell you one
week belore they had givm us a toPi. and we had to PreParea
whole Powerpoinr prcsmtation, making !P the slidPs and sd on
The whole interiew including the piesentauon lasted about an
hou. Then it rYastim for lu.h.
INTERVIEIIIR
O(.
MT Yes,it was a standi.g-up lunch in th. foyer with canaPs,nnd
we all moved aolnd.nd chafted.I'm sure they were obseninS
our socialskills d!.ing the lunch aswelll
INTERVIEWER I sw. the! @r.! Whnthnrylhednlt ltndt?
MT Afier lu.h thele nas a roleplay \edse. They 8a!e you a
backgrcmd siluation,and you had halfan hour ro lead it and
ihi* about it. Then you did the iolepl.y wirh one other Person
who
whoalshada lole In the room thercwas. silentassessor
INTERVIEWER what khlll.aJtuI.?lntt xds it?
MT I had to play the rcle of an .ssGtantmanager- like the iob I
Nonld e.lly h.!eill w.ssuccesftd and the other Pcrsonwas
a problcmemploycc.They sere doing then 'ob badly,theywere
ch.llcnginSour.urhoritl,,thethadbeenrudebsmc.uslomers,
and $ on. Bur the teamwas shorrofmenbers.nd it was difficuh
to find staffin thc locallaboui m.rkct-.nd so I couldn'l fire
them,AI$, 1was onl). lhe a$istant manager.nd I didn't havc thc
authority todo that - in th.scen.rb thc main nanaSerwas.way
on holiday,andsoI ha{t to t lk to thc cmployeeand ky tocontrol
INTERVIEWER V.tt cltdllltgilg! Hot! did yat ho,.lb it?
MT I canl rell you. It's confidential- it would be t@ much hclP to
othe. peopleif they we.c in the samerituation.
INTERVIEWER OK, so uhat hrppaEd allt tlt. tohlk)t?
MT Next we had a teamworktesl.Therewere eight PeoPtearound
a iable- aSainwe were gnen a ba.kground sccnariowith a
probleh to solve,dd we had to dikuss togetherand comeuP
wth a solurion. In th room thee nere thre silent assessorsthis
Coi ltor giu tu ar i leaaJth. votarir'1
MT Y6. We were supposed to be the Board members of a conPmy,
dinssing ideas for how to imprcve L\e bnsinss. Each PeFon
had to pitch their own idea,whj.h drey Saveyou. For examPle,
ewarding thc enployes in a difierenl way, bnnging a new
product onto the ffiket, a loyally rhem for customeE, tc. At
the end you .ould onl)' chooseone idea.
INTERVIEWER Tle sti.ni nrs.ssd/str.r$, fl.. W,tatrlolot think tl
ms thnt they uere lNkiiglar?
MT We[, comuication
skills obviously - to seeiI you can exPlain
you ide6 .learl] md diktly and also listen to other peoPle and
6k them Aood questions. Also to seeii you .an iniunce other
psple md convin e then that your ideas de nght.
INTERI/IEIVER was thm nhlthin& elseofter thnt?
MI
There wa one Laslexe(ne a report Miting exe4js. Again
he wer given a ba.k8mmd sihEtion, and they g.ve us half an
hou to read it - it was guite lmgthy. Then we had rwo noxn to
rYnb a reporr based on the situation.
INTERVIEWER wdt ins tht st@tidl this tifle?
MT We worted for a .ompany that wanted to move its offices, ard
rye had to choosbetwen ta o optios. One location was very
INTERVIEWER
159
LISTENINGSCRIPTS
erpsive, but ir ha.l goo.l inJrasirucrue, and the other lation
was chap, but it was o1d md lacled some basic facilitis. You
had to choose a lftatiory jutj!, it, and also Sive sne Enflcial
analysis. The idea was to Mite emerhing that a rop mmaar
could read at a glance and male rhe final decision.
INTERVIEWER So thz tuhaledo! uas ury conqrelffiiw Ae ull 6
the @fMtiondl intdti.u the! lo.ktd at your nwEnal dtu| laglal
skiLh,lorr i*apdsoul skilb, latr llevgewnt skills uith ttu
.aiaml .hploy*, laur teantm*nq dbility, yaw turitins ability
INTERVMER
S rrackle
4 lnterview with a supply <hainmanager
SCM = supply chainmanaEe!
INTERVIEWIR OK,Andftr, Wr'r. gonl8b erykh to tt dboll
sttlplv.lkih
t,
"nflagdn
SCM Yes,supply chain managehentis r revolutionin the way
that we seelogisiics.lnsteadofa companyjusthalingan intemal
iocus,it has to have a di6t.omection wnh its supplieFand
160
to
S rrack20
5 lnterview with a sales manager
KAM = Key accost manaCer
INTRVIEiVIR
(AM
OK, cnfl !o! tell hE yaut iab title afld Ihi nd\stry lou
fIsTENING sCRIPTs
might have plans for new bundinSs. Then I conta.t ths, by
telephone or email, and try to gei d appoinhent to visit tlEm
and male a sals pesotation.
Afld tf the clid1t is ifitmled?
KAM Thm I get into a moie detailed conversation with them
about the specifi. prclect. Btrt the architect who is workinS for ttE
.lidt is the real dedsion maker - the mhite.t has to be hvolved
at an early st gc. The building conhacior is also imPorrmr, but
rh(y Lord|) louoq q hdt rhe dnnilRt.a\.. 5o we lute d *ris
of meetinSs with all the pnties involved, and if everything 8es
well, then we .m be6in to tal! about the tjme s.hedde ior thc
hstalation, the price, ttLewaranty, and so on.
INTERVIEWER Htu is lort iob d4fetu1l ta th. htricnLidenttat w
hnu ol a sates
consultikta
you.
KAM Wll,
idea of a salesc@5ultantis prcbablybasedon
ar more comPlexind
B2C,not B2B.In B2Bthe discus5ions
mo t*hnical. With the rrchitftt we have to talk rbout our
manlfactuiin8 prccess, quality, reLiabiLity,dd o on. With the
conhactor wc hav to talk about easeof install.iion, delivery and
timing. With the final client w har to talk about how [8hnn8
cieates an identity fo! thei hotel, or their rctail space,or thet
officcs how it helpsto .Eate an jmage.
INTERVIEIWR
INIERVIEWER
AnA hM dolot dnl uith thestdn ldtrl objetion thal
the! nlread! lDtk uith anotho lightiflg campany,q dno!:hatunPdny is
oftinS n bettd pnce ot tuhatM?
(AM
You have ro telieve in yolr prodlcts and ialk about
The clienl wil feel th]s
rhem with a passion md comitmst.
imdiare\.
But you don't 8et into a conveMrion about Pri.e. ll
you ae saying tlEt your Prodrcts are the best, then it's a mistake
ro try to compete on Pdce. The best is never the cheaPesr'You talk
about qualiry abort imovation, about delivery Suarants, about
*rvice levels, and also abour other satisfied dstome6. It's Eood
to have some tEhmonials we lEve them in the brochue.
INIERVIEWER OK,onelnrl qtstion. Canyat tell n'eil theft is
nn:/ tdtsi.n insid. Ww .ontpdt! betueekSnlesond Pndrctiat? For
dafltL, Wu tmisc theclientdeliwt! nt a cnlan tuM, but then
Ptutluctiot Kys tlnt the! cnn't rnk the ld'nts bv thnt tinE
(AM
Ys,you call Prcduction and say 'l hJvc this bi6 order nnd th
clientn@dsit in tendays'and Fredudion saysit's imPossibleSo
then I Eo dd spak to Prcdrction in person and ky to Pcrsuad
them that my ordd is moe important thd all the othcrs. In the
nd yo! have to nsc your ilduencing dd PesuadinS skills not
just wiih rhe client,but imide your own olganiz.tion aswell I
tf lra(k21
6 Interviw with a marketing director
MD = M.rk.tinE dn(lor
16
LISTEI\IINGSCRIPTs
ol crcps. The fam*
deide how much of otr prcduc. ihey wanr,
md they si8n a.ontract with 6. When dre crop C ready, rhey
deliver it to rhe trader not to us, dd th rrader paF 6. We n*er
ger lnvolvd in *1iin8 rhe tups on the mffker That rist pos to
the rra.ler but they know then blsinss.
INIERVIElER
OK.Sou u n eredpodrct,w Detu,e@ pt,.e.
xatu pLue tell us a little bit aboutptae, ht atht @tds lhe dkttibutiat
MD Yes.We have se8nhtation in the market acording ro the size
of the fa.m. W have bi& medilm md small grcwers, and we tare
a differenr approach with each egmenr. Wirh the bi8 farmeB we
use a B2B appruach. We have a key accobr manager iGide olr
company so that the famer can pi.k up rhe phone md ialk ro one
peson, Ihe neSotiarionis jusr aboutprice.With the medium-size
farmers it's difturunt. We sdd a s,ls .ep to visir then fam, but
in lact this kjnd of sles rep is also an aAri.ultural cotudrdt.
T1rereps have a scienceb.ckgrcud - rhey e aSrcnohjsrs.
Th larmes really rppKiare this technical support, and ou.
competitors don't otfer it. The lar8esize fa.hers don,t ned
this tshnical suppDrtbecauserhey have rheir own agononists
INTER!'IEI{ER
Andttunh t'annns?
MD The ehall fa.mels don,t get rehnicat suppod. They jusr
ordcr their chemicalsdipctly fiom a distriburorwho delivcE the
prodrct to thch. We suppl),thedistriburor.nd pay them ro
80
round the farmsdoing rhe detiverica.The diskiburor canalsogo
to thc mediuh and larScfrrms, orsonetimes wc do thardiRtty
- ro.examplethe s.les rep on takerhe product.
INTERVIEWER So kn
.1nni6 hdrd! b.htcr ttt lannaE n1d
"\\tr
MD Etactly.lfyou rehcmber fron betoe, rhe tames pay for their
.hcmicalsuith bagsof crcpsdetiveredro the commodity r.rdes.
The dishibutos are paid by us,out ofrhe money rhat we
Eerfrcm
theconmodity tladers.Ii's a win-win parrne$hipbetwftn us,
distriburof,famrer and tradei
INTERVIEWER oK, thet s on.fndl ,p t.Jt:ptu"totion.r lhitk tttots
Ihe ntostnxa9t ihg af nll,
MD Yes,in our marter the massnedia is lessinportant, b<a!e
tarmes dontwatch so much TV and anyway ther.,sa loror
competitionfor TV spots.5o we decidedro be Ealty rnnovahre.
We'vemlde a movie exacttythe sanc as in the cinena wrth
some br8-name stars - and wc invire the fam6 ro come to
the cinema to seeit. It's a 3D movie. We oryanize bu*s ro take
l F c l d r * e . s l o t l F c ' n c r a . d n d l h e nl r h n , h c y a r n v e . w e A i r e
them some lopcorn and a beea You havc to Member rhat th*
iaheB rarely go to rhe cineha.
INTERVIEWIR
Ard annt it thelhn about? Wnt s th. story?
MD Il starts wirn a flying saucer Ir lands in ou ounry du $n.
alietr appear Tne leal far(ers srart askin8 rhe aliens querioE,
and the aliere rake rhe farmets to ihejr plmet. When they
Eer
to the planet, L\ey find ihat the alies !se.l ro have the sme
Prcblems with iheir crcps 4 rhe farmers are having righr now
INTERVIEWER
MD Of cousel How did you Euss? Bur yo! shoul.l s@ rhe aliens,
yein 3D ir's rea]1yanazinEl
F Track22
7 Interview with a finance dire<tor
FD = Fhanc dnEbr
INTER\,aIEI,V'ER I think it Mutd beintd.stiry ta kiao hnu the
fftdhe
ftrLtim is ditiled q inside. ttrye compn lt. T. n fton busnes,
posot, fnnnce is sonehou nore nlsteiaus thor Snlesar Ma*.tikg ol
FD
FD
162
LISTENIN6SCRIPTS
for keeping the books, jusr like puchases md ordeF, and so
drs thin8s come mde. the contrci of th a.codts ofne. Bul
accomts recivable is a more hmm md lrmagdial PrG6s
- a cedit conhoner miSht n@d to telePhone a astomer about
d outstanding bill, send them a renindr deal with bad debrs,
md so on. ll's the flow ol cash into dre compd, and so rt .omes
rddr" rd.ut. n .not;u'l d ddrmi.hcti\e $in8.
INTERVMER
OK sotlet ! the th& oteds.Nou ut&t aboutyou thc
FindnceDiEetor Do )tou hnre afl:t spec$c'rspofsibiliti6 thtt orc nal
cau4d b! the thte pcopb rnd( vou?
Yes,good qlesnon. Besidesmanaging rhese three people and
trking nny importnnt 6n.ncir1 issucsro the seniormmagement
team,I alsoh.ve responsibilitytor corporatgovemn e.50
l'm the onewho callsrhe shareholdeB'meetin8smd tak6 the
minutes of those meernrSs,dd I'm the one s ho work cl@ll
with the external auditors. And iI there's a very big prcject to be
fituced, then I'll speak to th banks rather than thc'tFasuer
INTERVIEWER Crcat. I thntk theon\ thilg ltar hatdit ,tentionul so
fdr n tt andtrxplonniq.
FD The Chief Accounting Officer h.s ro prcp.re ihe tax rutuns, an.l
sonaturally th.tpeson isvery invoived in tax plaminS, Blt this
isn complei.rca and we oftenu* exrem.l consultantslohelp us,
.nd in th.tcasc I wonld Scrinvollcd assell.
INTERVIEWER And fndl qucstio'l
is this:th I i! th. or. tl''tE thnl
"1!
tuu|tlnnka:taut |iJ.tusiernndnllol! uar to b. ai.llrltun1vorr
FD
!D
S rra(k 2l
8 Interview with a human resourcesdirector
HRD = Human resourcesdiretor
INTERVMER
Resov.6 ht lor4l
"
Answer key
I The economy
I drves 2 dereguation ! slbsidies 4 qlotas 5triffs
6 conslraned 7 iqudq/ 8 bubbles 9 underlying
l0 different
a s 11 prosperty 12 lieracy
I consumer
spendng 2 lreemovemenl
of capita
3 grow,lh
andcontraction 4 |te expeclancy 5 openbo.de6
6 standard
oi livinq 7 envronmentaldamage
8 goodsandstuces 9 intestrates l0 cheapcredit
11 socialmobity 12 ufderlying
strength
I corsumer
spending 2 chapoedt 3 standard
oi iving
4 gro\4thandcontra.tion 5 nlerestrales 6 unde.lyinq
nrenglh
I on thevergeot slallng
5 rouqhy
1 achieve
a c ll.almass 2 waitfor invoi.estobe paid
3 growor shink yearby year 4 mpoy morenaff
5 spotagapin the market 6 takeo. the riskof the busne$Ia ing
/ bnT In arruqedmourI ol Torey 8 elLe c arow11
prse
9 enenda lineoi credit l0 90 pubic
ll groworganicaly
or by acquisit
ons
12 sllthebusiness
asa goingconcern
1 overcxpard 2 undercut 3 LndeDerform 4 overtake
5 overupend 6 u.dercharge 7 overde 8 understimate
1 outlet 2 fee
3 fulli
4 nandards 5 running
2 d
3 c
4 a
5 e
6 h
7 f
8 9
9 j
3 dvdeid
4 nake
5 inigrq
t 0 i
I o w / p c k s u p 2 e n d/ 1 u r n i ndgo w n 3 b o n d / l i x e d
4 rnoreexpensve/coos 5 contract/Gcession 6 antcpate
7 beiore 8 b! l/ bul sh
1 polcymake6 2 newbonowing 3 side,effeds 4laxcurs
5 govefnment
debl 6 abourmarket
3 International trade
Exerclse
3.1
1 ecofomesor scale 2 on yourbehal 3 wa.ranty
4 warehouse 5 expertise 6 trademark 7 fee 8 royalb/
9 invoce 10 bi ofladifg
Erer.lse3.2
I t;ke adlantage
of anyunderused
capacty
2 rcy on justyourdomenkmarket
4 acton somebodys
beh.lf
5 estabsha presence
in. foregn marker
6 keepyourown legaldenlity
7 handethe exchanqe
of doclments
8 payac.ordngto thetermsof thecontract
1 Cash-in-advan.e
2 Letterof credit 3 Do.lmeniary
coll{tion
4 Openaccount 5 Consignment
purchase
4 Frdi-
r qerdr
1 waming/ destrlclion
/ threaten
nq
2 actv sts/ lnfluential/
envnonmenla
I engineering
/.ontrovers
all gbu4h/ prcduction
4 economic/indunalizarion
/ strengths
/ weaknesses
I sia.dards 2p.cpies
3 povedy 4 access 5 gender
6 plemium 7 sobsidy I oveprodlction
Exercise4.l
' edg" 2 bacLers r roilderd 4 Fg:lenrry 5 Involc6
6 pilngLp 7 tornover 8 a qoingconcern 9 acquisitions
1 0t h o r o u q h y 1 1 n i c k n g w i t h 1 2 f a * e c o n o m y
13 reghbourhood 14 seedmoney 15 loyalty 16 complacency
164
1 geopolitical
nllue.ce 2 dmatech.ige 3 gobalwarmng
4 suslainabe
groMh 5 pe.koi 5 gfeenacrivsts
7 m.jorbartlelield I livingnandards 9 pfklig powe.
10 d.liningbinh..re 11 knowledge
worke.
12 environmental
npact
ANSWERKEY
2 /
4 dod
5 mrlr- 7e
Ercr.iie 1i.5
plan
1 exposure
ro risk 2 riskassessments! contingenry
procedure 5 remedaacton 6 dam.ge mitation
4 escalation
1 budgel 2 compelencies
I constraints 2 tacke 3 brief 4 be nlhe oop
6 i guringoll
Ercrdse8.5
t shouldbe'thep6onresponsibLe'
5 snaq
1 positive
fedbackiroh yourboss 2 negatveexperiences
with
colleagles 3 sense
of achivement4 lackof recogniton
politics 6 physica
5 company
envirorment 7 task-orentd
busine$wodd 8 financial
reward
4 make 5 .ea.h
analyze/
exami.e/ go over
construci
/ assemble
/ plr iogether
determine
/establish
/ findoui
pul i.to operaton/carry
implement/
out
monnor/superuEe
/ keepan eyeon
renove/ get dof
eLiminate/
evallate/ asess/weigh up
m a n a g e / r u/ b
n e n c h a r goei
rep.irl fix/ pLrbackinioworkingorder
simuate/ replicate
/ model
fhe vefts in the thid colunn are nare infornal.
!ss!e:2c
1 exceed
/ n 1a 2 fa I shortofl annual 3 implemenl
/ theyear
4 s h e v e l/o n q t e r m s r a s e d
/compex
Exercise
9.5
objectver
2a scheduler
1c budget3b
1 set/ overal 2 si.kto/tight
3 submii/draft
ANSWERKEY
13 Inside a factory
I plart 2 fitt6 3 -wise 4 shilt 5 dir.repancier 6 lacitily
7 ta lored A throughput 9 rolrngoif tO idte ii wearand
I indunrial
/ economy/productve 2 anatys
s / mp.ovemenrs
3 waneful/exceeded 4 de very/assembty
I bon'er, |
2 shcpe r nr:Bhr 4 ro ar.emote,
5 synchronlzation6 bran.h 7 custom
zed
'17
1 runout
2 snapofl
! blln
4 workloose s beiammed
2 eimar
3 proposa 4 tender
proc!reme.r
= sourcn9 + p!rcharng
1 oiishore 2 onshore 3 nearshore
I i " g r o u p6 ! p p l e , g
) N e / p r e p &/ p r o v d e / s u b m , r
2 " . 9 r o l p ( c u s r o m e nfaoir l g e l / a c c e p t
2 1" grolp Glppieddrawup/ make/ purfoMard/ oultne/ submir
2'r!group(costomer)
accepl/ consider
/ reje.t
3 l " groupGLrpplier)
b d for / submir/ put in / win
2ddgfoup(customer)
nvite/putsomeihinq
oul lo/annou.ce/
Quality
4 poor 5 ensure
18 Sales
1 d
I cargo 2 lreqht
I slpplychain 2 finished
goods 3 finalcunomer
4 ogncs provider 5 dnributonch.nnel 6 foMardingaqent
1 Ensuring 2 fore.astng 3 handling 4 batancnq 5 Lrnkrng
6 Seectng 7 Neqotating 8 Wareholsing
16 Lan production
1 delime
2 flow 3 defecis 4 .ework 5 eriofproofinq
6 delvered 7 eadume 8 manpower 9 .oementa
l0 shine 11 tools 12 storaqeboxes
1 add va !e
2 be wllinq io payfor someihing 3 deliverparts
4 pl-trare rdnp
5 -c.4 tr6.omelhrlo doa.n- rppen dqdin
6 performa task 7 aitacha kanbancardro an iiem
8 cean up the equipmeniso thar ir shines 9 erotspDof a sysiem
10 hande mateials 1t minimizenventory
12 optmize the Jlow of marertals
2 c
3 a
4 b
5 e
6 9
7 l
19 Customer setvice
I loqged 2 reief lpwafds
4 bulk purchase s lyer
3 commrtments
bodyposture 2 channel
of comnuncarion 3 com.non
qround
on s.reeninlormaUon 5 prelercdcusromers
prsalesenqliry 7 buk pur.hase
discount
moneybackguarantee 9 satisfacron
sLrtoey jO wairanry
ctaim
1 waiianty/graEntee 2 FreqLenttyAsked
elesrons
I satisfa.tion 2 oyalty 3 leedback 4 sutoy 5 expefence
6 expectaions 7 profile 8 requiremenrs
166
Al'lsWEBKEY
23 Promotion
ExercB
23.1
1 billboads 2 sponso6hip 3 coverage 4 pre$kit 5 stlnts
6 goodwill 7 philanthopy 8 convergence9 tracking
]O GPS
1 bujldawareness
ol a newprodua( 2 n muatedmandby
throuqhto thi ra
ofieinqai.eet al 3 t.ke an ntia concept
advertisement4 placear ad in th media 5 issuea newsrelease
6 kep in contact
wirhcunome6 7 monitorhowconsume6
adsto a mobiledevice
respond
1oadvertisements8 pushtargeted
1 markelforces 2 markeingmx
ExeRite23.3
/put/ ranltookoui
1 placed
/ pubLished
1 e 2 b
3 c
4 h
5 9
3 marketshare
6 a
7 d
8 t
24 Pri.e
2t Produd
rnto
1 losesalesand
malkelshae 2 takeseveraliacloru
retLrrn
on y
consideration3 requrea minimum
4 coverlhecottswithsalesrevenue 5 9an a hod n a newma(et
youGelf
arthe highndol the market 7 setthelra
6 position
p.icerhaitheenduserpays 8 selbeow costio altra.t.uslomer
I exclusive
/ uxury/upmarkel/upscale
2 economy
/ valueJor-money3 tradtional
4 ben-seln9/favourte/ leadlig 5 wellknown
Exercise
2l.s
1 nnovative 2lulyaulomatc 3 blilt-in 4 podable
5 compact 6 rechargeable7 wefmade 8 state'ot_the-6rt
9 nregrated 10 adjustble rl easytocean 12 oplDnal
13 energy-efficint14 economka 15 reqced
in a range
frendly t7 reliabl 18 availabLe
16 environmntaly
19 hgh-pedo.mance20 waterprool 21 highrech
22 shock-absode,rt23 hard'weaing 24 nandard 2s stylish
26 imited 27 user-frendly 28 ong-lanng
29 expafdable 30 one-touch
Exercire21.6
l d 2 c 3 b 4 a
22 Distribution (pla.e)
Exercise
22.1
1 fee 2 retalloltets 3 masscoverage 4 settlelor
6 decor 7 keepng pacewith 8 ddvesdowi
/ran
2 caried/ pubished
5layout
I conven
encestore 2 cornershop 3 E-tailer 4 $&ality store
5tore 7 cashandcarry
5 supermarket6 department
Exer.ise22,3
1 m a r ku p 2 m a r g n
1 siqnaqe 2 tag 3 medandse 4 qarment 5 dwice
6 checkoui 7 fornshings 8 mxand math
r prompl 2 scae/passo
en
d
3 c h a n i 4 s a c k/ s a e s
increase
/ raise/ put up
l o w e , / c u t / b i n gd o w n
sel/ nablsh/ delermine
ngotrate
/ a.i!e.i / settleon
/ figureoul / wo.kout
calculare
/ exorbitant
/ inl aled 2 low/bargain/ budget
r high/ excessiv
/
/ lair/ reasonable4 retaiL/lisl
/ reduced 3 good/ .ttractive
25 Marketing managemenl
1 coc competencies 2 threals 3 suruey 4 questionnare
advantages
5 qualitalive 6 focusgroups 7 competitive
point l0 betateninq 11 prototype
8 screening 9 breakeven
t6i
ANSWEBKEY
1 ooktowards 2 gain 3 trealwirh 4 crry oul
I de5ior
mdrlLaue
LaJlCh
4 .el
5 rogrddF
1 Kod something.s
an expense 2 payoff a credtaccounr
i fll
I applyrheefre loq. 4 raisecapitaby issuing
newshares
5 present
information
n a.ertainway 6 subrract
onefigurefrom
another 7 buybackshares
fromthe ma*et I borcw money
1on 2in
3as 4on
5by
26 Inaome slatement
I revenue 2 profit ! th indirect.osis
of stinga p@duct
and
runningtheoif ce 4 in d fferenlplacet 5 amorlzaton 6 gross
Exercke26.5
I record/ egitimale 2 ertraordinary
/ exception.l
3 red/baikrupl/lquidaton 4 wrtesoif 5 adve.se 6 accrual
27 Balancesheet
Exki5e27.2
1 dbl 2 bonds 3 goodwil 4 stasde 5 modgage
6 payoff
Exerck27.3
I Inio 2by 3lo 4n
5for 6 b.ck 7 rhrough
8 on 9 o!1of t0 over
Exrcise
27.5
harc hold/ own/ posses
bul: accumu
aie/ acqu.e / buid up
axercise
27.5
col/{r: buid up/ nc!./ runup
payback:c ear/ honolr/ payoff / repay/ seruce/ tettl
28 Cashflow statement
Exer.ise28.1
1 plait 2 sulng
: sums 4 dedlcted
5 outstandinq
Exerdse2a.2
i 26,960 2 10,500 3 9,560 4 944 5 27,900
Exer.ise2a,!
1 F 2 T (hbourandelares) 3 T (ir! paidin lanuaryat the
stanol ihe business,
andthenaqainin February)4 F(ihetirst
unltiespayments n February
butthe busineswas
atmostcenainly
usingutilriesfromthenart) 5 T 6 F(thenegative
cashflow
s dueto buyingthe nventorylharrhe
business
needsto qatr
tradng) 7 T 8 F(theenu ismadeforthe monrhwhenthecash
isactualyreceived,
e Febnrary)9 F 10 T
I havea heahhy
cashflow 2 be a welesrabtished
compary
I havedalyoperalng expenses 4 bema.agedoi a dayto-day
basis 5 takeadvantage
oia lineol credft 6 seesomerh
n9.from
a *.icl ac.ounling
viewpont 7 makean initialdeposrr
a .un credt decks t haveheaviydtscounrd
ofie.s
10 havepeGistent
sow payngcusromeu 11 negotiat
extended
creditefts l2 9ve an eary paynenrdiscount
b es h o no l / ' L n o u lo f .r l d d v a . . /aL p f r o l r .1 1o, w )/ . e ( ep r .
inrusion
generale/.aise,
/ injection,
hod.9s / reselves,
oose/ spare,
needs
paymeft(intul)/setlemenr,shonage
/ requircmenis.
/shonfaI
1 lurnover 2 deivery ! overd.aft 4 imr
6 dear 7 squeeze 8 fullll
30 Protitability
1 120 2 200,000 3 2aah/ llAyo 4 operaring
everage
Exercire30.2
1 A (advedsingisa fixedcosr- seerhrxropposte)
2 I (mate.ials
isa vaiablecon)
Exrcise
30.3
1 B 2 C
3 A
31 Financial rnarkls
I foundeB 2 bonds 3 exchnge
rate 4 specuatoB
5 volallity 6 undeyng 7 on bhafol 8 poi.yhotdeu
9 pool 10 venllrecapilal t1 buy-olts t2 budgetarysurp!s
Exercke31.2
beaf/deprcssd
/t ling / weak
boominq
/ boll/ heafthy/r si.g/ strong
good/ prolilable
/ securc
/ souod/ worthwhie
h thjisk / risky/ specu
arive
1 qo publi.wth ao IPO 2 I n shars
on a nockmarker
I raise(apitalby issulng
bonds 4 paybacka loanwrh inieresr
5 fundshortlermdeblwth 'commercial
papei 6 flranpukre
thexchanqe
raie 7 chaseshort-term
trendsin the nkrKer
8 buyshaEson behaf of a c ient 9 supporia nart,upwth venllre
Gprial l0 takeovera company,
thenrenruci!reit
1 peqs 2 p.opsup
168
5 outstanding
3 hedging 4 commod
ty contracG
ANSWERKEY
32 Investing in stocks
Exercise
32.1
l captalgan 2 index 3 benchmark 4 outperforming
5 diveEfedportfolio 6 pckl 7 SWOT 8 pipeline
9 prospects 10 ba(erstoentry 1l suppod
l2 tradinqchannes 1l sentiment 14 eeasona
lty
1 m:kea d vdeid payment 2 qlote a bid/ offersp.ead
portfoio 4 pastperformanG 5 riskproiile
3 havea diveEfrcd
6 qroMhpospeaG 7 chartpatterns a investor
sentimenl
1 netcs 2 earnirgs 3 bufiyourway 4 pofitability
5 oveqcd 6 shareprice 7 assets 8 capital9an
33 Recruitment
I incentive 2 benett
1 on/of
2 under
3 reward
I over
4 fio
5 fo.
9 address
a 9r evance 10 enlorcethe rulesstrictly
andresolve
I beon a permanent
conlracl 2 recruntempslhrough.nagenq
3 workolf the premises
asa treeancer 4 alocatewor[ in:
lor atob 6 ask
dfferc.t way 5 nart ookingelsewherc
opei eiddqueniois 7 locuson achevemenls
ratherlhanskills
8 keepan Intervewon lrack 9 do somebackgrolidchecks
l0 drawup a shortlisl
oi candrdates
Exr.ise33.3
/ h re/ recrllilrakeon
mpoy/ appoint
d s m $ / t r e l l a yo l f/ m a k er e d u n d a/ nl et r mn a t e
h a n dn y o u rn o t c e / q u i t r/ e s i g/ns t a . dd o w n
Exerdse33.4
1 natutory 2 legslation 3 r e g u a t i o n s4 c o m p an l l c a m
conslderabe
/ettensve,dnect/lisr-hand,reevanr/ appropriaie,
practica
/ handron,prevoos/pror limltd/ lrte
boring/ dead-e.d,
challeng
n9/ demand.9,de.ent/worthwhile.
d e a/ d r e a mm
, a.ual/bue{olar,.egllarlsieady
1 n.ke / concenlrate
on 2 break/cke off 3 move/beover
4 prcmisnq/ adder 5 chosen
/ oppofiunites
l w a sw o r k r n g 2 h a d j u s t f n s h e d 3 w a s w r i t n g 4 g o t
5 was 6 hadnl contacted 7 wated 8 waslstenng
9 called 10 werewaitnq l1 hada.eadyloundoLi
37 Your cornpany
1 milenones 2 renructuing 3 marketcapitaization
4 slbsidaries 5 overyew 6 competlive
advantages7 taiLored
8 o v e G l l 9 s h r i n k l n q l 0 p r o d u c t p p e l n e1 1 m o r a l e
12 commitment 13 malktsaruration 14 shoriage
produc(
1 ma*ei share 2 productrange 3 a standard
4 socatrends 5 R&D 6 swoT anatsis 7 disvibltionnetwork
products l0 annla tlrnover
8 costadvaotaqes9 substitute
I bLsinels
mode 2 afiordabLe3 founder 4 indlnrynandard
5 stateofthe ad 6 .onsumertanes 7 primelocations
8 turnover 9 ncome 10 continued
exparsion
769
ANSWERXEY
38 Your ,ob
Exercise
!8.1
1 tra.krecord 2 drawsup
3 ove6ee 4 signoff
5 i:ise
I chailngng
/demandng 2 my boss/mylinemanaqer
3 .oleagle/ cowo(er 4 opposite
number
/ counterpart
I makeinitialcontact
wth a clent 2 takea backseatio.a whib
: olersee
thewholeprocess 4 handleincomigcalls
5 k-"epon iop of thlling 6 be on fn( nametems
I cul ofi
I R i g h tl/s e e / s u r e 2 Y u h /M h m/ U h h l h ! E x a cyt
4 Thal'sright. 5 Great 6 Thal!wonderiull 7 Dd you7
8 HdssheT 9 Halia mrllonurosl l0 V etnam
I 1 Andwhywasrhal? 12 Sowhatdldyoudo?
1r' 2'
2 speakup
3,/ 4t 5r'
39 Telephoning - making and taking calls
I t h i s / s p e ankg 2 n c e / h e a r 3
4 cose/down 5 rason
/ because 6 thought/ might
7 g e t / b a c k / t o 8 e a v /ew i l h 9
I
2
3
1 s p e a/kt o 2 f o f 3 b e a r / w i 1 h 4 h u s t / n 5 n e e d
6 c a l/ b a c k 7 h a k e / o f 8 n 9 o u l o l r 0 l e a v e 1 r l e t
12tor 13on 14ask 15 make i6 p!r/o.
17on
1 as
2 that
3 any,thing 4 caling
4 j
5 b
6 l
7 f
43 Telephoning - complaints
l b 2 t 3 l
l l e 1 2r
40 Telephoning - messages
8 i
9 d
r 0 k
1]b
4 h
5 k
25k 3loc 43
6 g
7 a
8 d
9 l
l 0 c
5l2i 67a
t70
4 qo over 5 holdof
3 breakirg!p
ANsWER KEY
44 Telephoning - review
47 Emails - commercial
1 i
2 c
3 9
4 b
5 e
6 a
7 d
8 h
5 C
6 A
7 B 8 B
9 A
45 Emails - basics
1 m witng with rcgardto 2 Please
fee freero contactnre f...
3 lookfoMardlo hearing
fromyou 4 Thankyouverynruchlor
please
seldi.gJoL'CV 5 I cdr otse aly lJnl'e'asrsrance,
6 hopeyoutewe
7 Ths isjun a quicknote10 .
8 waswondern9fyou couldhelpme. 9 d .ealy appreclate
t.
youa copyof t
10 Greatto hearfromyouagaif 11 Shalllsend
Exercbe45.2
FirnemairReason
lor witing / Bodyof emal/ Finalcomments
/
Second
m.i:Preliolscontacl/ Bodyol emai/Flna comments
(orBodyol
Thndemai:Frieidy open/ Rason
lor writig / Requen
email)/ Friendy
close/ Fnalcomments
Fo!rthenral:Frendly
open/ Bodyolemail/Ofierhelp/ FriendLy
clo5e
1 greatpleasL.e 2 !ry imprssed3 with reg.d
4 usetuldiscu$ion s wondeingif 6 gratefultor
7 hearngfrom 8 AsEquested 9 anattachmenl
10 rclatonto 1l don'lhesitate 12 lurtherassista.ce
1 3 . e 1 4 P l e a s e 1 5 g e lb a c k 1 6 D o y o u w ; n t
1 s a y / ' l 2 q u i c kn o t e /r e m i n dP/ l e a s e
3 let/ know/ advance
/co-operation
I heres/atta.hed 2 UnJortunalely
/ slqnficaody I wanr/to
4 Let/know/else 5 Shal 6 Getback
1 Im pleased
to telyou that
2 'm sureyouwillbepleased
10
hearthat.
3 woud alsoiketo takethe opportuniiy
to tellyou
a b o u t . . . 4 W o u l da l l s t a fpf l e a sneo t et h a t . . . 5 l t h o u g h t y o u ' d
be interened
to knowthat... 6 | wouldliketo thankyouallfor
y o u vr au a b l e
c o n t r b u t o n . 7 T h a n kasg a nf o r a l l y o uhre l pl e a L l y
apprecate
youhavedone.
t. 8 l'm veryqratelufor everything
2 h
1 i^lir
r .
2 6f/Iot
4 a
5 9
6 e
7 f
8 b
3 on/from/to 4 at/on
5 in
6 at
1 lose 2 beann0lled
1 c 2 d
3 b
Emall:rc+8e
E m a l l4
3a + 5 h
E m al 4 3 b+ 7 f
4 a
5 h
6 g
7 f
A e
drcppedmeofi / check-in
/ ex.e$baggage
charge
/ through/ quere/
gate/ rush/ board/ turbulence
/toucheddown/ p.ked/rank/stuck/
rp meoff / Eeipt / earlynight
177
ANSWERKEY
t heeway 2 ext 3 siqnponed 4 on 5 for 6 miss
7 Turn I pan 9 down 10 bocks 11 on 12 main
1 3 f ol o w 1 4 f o r l 5 o r
50 Emailg - rcview
1 lee / contact 2 shal 3 wonder 4 offer/ hesirale
5 remnd 6 know/do 7 would/take 8 appfe.ate 9 note
10 ponpone ll welcome/dsc!$ 12 send 13lake/rsolve
14 not.e 15 asslre 16 oiier 17 insst 18 crrck
19 acknowledg 20 accept
Exercise
50.2
a)5/1/9 b)3/8 .)2/10 d)1t4/6 e)14
i ) 1 1/ 1 6 / 1 8 g ) 1 2 l 1 9 h ) 1 3 t 1 1 1 1 5 / 2 o
54 Presentations - knds I
l e 2 h 3 9 4 n 5
6 d 7 a 8 c a J 1 01
1 1f 1 2 b 1 l m l 4 k
Exercise
50.5
I w i t h / t o 2 n / t o 3 l o r 4 f o . 5 b a c k / t o 6 o n/ o v e r
7 in 8 at/ n t h/fo.
10about/irom ll h
1 2 I o t / a l 1 3b y / a t 1 4o n 1 5w i l h
51 Preseniations - opening
Exerclse
51.1
1 Or behafof 8CCl'd lke to . . 2 cao everyone
seeat rheback?
3 lusl a few wordsaboutr,rysell 4 Im in chargeof plbk relations
5 l ' d l k et o s h o wy o L r. , 6 l ' l t a l ka b o uol u rm . r k e l . n dh o w . . .
7 l/ lmoveon to dscusscunomization 8 Welocuson talonngour
producls.. 9 I veyoua lilte iechncalbackground 10 Let!
b e gn w t h t h s i 6 l s l i d e
l c 2 e : h
Exerdse51.3
r h 2 e 3
1 1| 1 2
4 b
5 l
4 9
5 . 6 j
6 9
7 .
7 a
8 d
8 d
3to
4by
t haveseen 2 s c.lsing
5in
6at
3 w l b r i n g 4 w a s 5 w e r er s n g
55 Prcsentations - trends ll
9 k
l 0 b
4 asa rsut
772
ANSWERKEY
I l ' v ed ! d e d m yt a l ki n t o t h e em a i np a r t s . 2 I t y o u h a v e a n y
quesuons,
please
feellreeto lrterupr. 3 Let! examinethis
in more
detai 4 Junto d gressfora moment,... 5 OK,thatSal I want
point.
ro sayabouttheinst point 6 Le15moveor tothe second
7 M yo w nv e w o ni h s i s
8 Asyoucanseeo
t hni s n e r t s i d e , . . .
9 Whatisthe reason
forths?lhe reason
is
10 Letmeexplain
wth a concEteexampe. 11 beganbyte lingyoua linleabout. .
Thenlexplandhow . Afterthatltalkedabout... 12 Thankyou
al ior comig aid hope1! beenuseful.
3 with
4 on to
5 io
6 back to
10 n/of
1l lot 12 nlir
Exercise
56.4
1 nad/ ntoducng 2 digress/momenl 3 useiu/background
4 examine/deta 5 xpan/concrele 6 highight/ diagram
1 d-)at-t a e.r
8 b'i19s/erd 9 erpan/again
1 0 q u e s t o n / o p i n i o n1 1 s . o p e / a f t e N a d s l 2 t m e / q u e s t i o n
Exercise
56.5
1 Notce 2 axis 3 ufits 4 draw 5 rose 6 neadily
7 havecontnued 8 alhough 9 steady 10 groMh
1 1 d u e1 0 1 2 E v e sn o l ! o n 1 4 o v e r 1 5 t o 1 6 n q u e
17 ookat 18 look off 19 we.ercaly ookinggood
20 haddone 2l However 22 hasbeen 23 sudden 24 drcp
25 feasons 26 about 27 comrnetus 28 highly 29 likely
30 by
57 Meetings - opinions
1 what 2 in mind 3 seerns
to me 4 mypoinlol view
5 agree 6 Youterighr 7 up to a pont 8 youmean
Exercbe57.2
1 However 2 Adually 3 Luckiy 4 obvously 5 hgenera
-Feooiir
6
s 7 E a s i c a l ?S B y r t e w d y 9 n a y o p r . i o .
Exercise
57.3_
1 Strongdsaqreement 2 Polrte
degreement
3 Notgramrnalica
ly possbe
1 Realy?Doyouthinkso? 2 'm notsosure.boutthat 3 l'm
sorrythat3not howlseei1 4 | reay can'iagreewithyo! rhere.
Exercire57.5
1 b 2 c 3 a 4 9 5 d 6 1 7 e
i u.derstand
/expa n 2 throoqh 3 over
4 s l g h tm s u f d e f i t a n d i n q5 p u t / w a y 6 c o m ei n
1 whal 2 how onq 3 when 4 howoften 5 who
6 which 7 howmr.h I where
59 Meetings - problem-solving
Exercise
59.1
1 several/d,aawith 2 openlp/vies
: suppose
/ riqht
4 sounds/workn praciice 5 pros/cons 6 Ontheonehand/
on the otherhand 7 makea suggenlon/nnead/why do.'t
I implcatons 9 genera/altholgh 10 besiwaylotuard
Exer.ise59.2
1 OK,leis do that. 2 Whatabout.. ? 3 Thatba complet
waste
oi time 4 Whydon'twe ..? 5 Yes,thatwouldworkrealy
well. 6 5hallwe ? 7 Thatsoundske a qoodidea 8 Can
makea suggeston? 9 ca. seeoneor two probemswithihat.
10 'm not realyslreaboutthat. 11 ThaimLght
bewonhtryinq.
I 2 I donl thinkit woud workin practice
Exer.ise59.3
a )2 1 4 1 6l a b ) 1 / 5 / 1 / 1 1 . J 3 / 9 / 1 0 / 1 2
I apoblem 2.elulon
3 a s L g g e s t i o n4 a d e o s r o r
61 Meetingr - negotiating I
3 prlorities 4 mean 5 tfirn
8 mnmum 9 concer. 10tmes.ae
ll quoted 12 march 1 l a s o n a b e 1 4 g u a r a n i e e
knd oilson ot / discount
/ limesca
e / think.q of / lalkingabout/
AIIIiWER KEY
62 Meetings - negotiating tl
EJGrcise
62.1
I minimuhorder 2 viabe/con-etfectve/run j p.e-payment
/
lrct time 4 upfront 5 'll advan.e
/ batafce/detivery
/ cashftow
6 authority
/ by myself
Absolutely
/ actonpoints
Ihe cbdi checksag.menr
qo.oundthe table/moveon
atter sometine, the chandosesttp neeting
m p u l / u s e t u l / fti hr e t m e / h a v a
e q u k kw o r d
2corder/4b discounr
/ 3a proposat/td deal
la detals/ td deadlre/ 4b concess
on/ 2c compbmise
s)12
9 d
t o i
64 Meetingr - rcview
fhe .han ooe.s the heting
Rlght/thanks
lof coming/ sendshs apotogies
/ housekeepinq
/ short
break/copyoi theagenda
/ rakethe rninotes
/ sright/ item/ kickofl
Matek prents lone altenati!$
d e a l w i t thh s s 5 ! e / p o s a n d c o . s / o p l o n / l a v o l r / a t t h o u g h
Thechat asksCanile far het rca.tion.
i e d / h a v es o r ne x p e r l e . c e
upto a point/ true/ tryinglo say/ put it simpy
Cahile repeas
774
ANsWERKEY
1 .ut/shorten 2 positon/ eadingplayer 3 secondary
4 co.duct/ survey 5 in-depth 6 extensive/lield
7 rcmaining
/ absorbed 8 costffediva
manner 9 long-laning
r b
2 b
3 b
2 d
3 d t .
4 b
Capabilitie6
Understandinq
yournocklosses
Staffinq
, /
17
ANSWER KEY
Intewiews
I Interview with a private equity invedor
I equity/ debt 2 buildup/ brcakdown
4 playels/ lawyels/ tax
3 eiit
Priceb
Paceb Pbmotionb
3 c
'l
176