Career
Express
Business English
Course Book
Gerlinde Butzphal and Jane Maier-Fairclough
'
'.
I I
I
'
·.,·i!JI
..... - O
''
'
,,
I
•'
,
,
,
,•
.
, ,,
'. . . .
•'
.·····�.B
'
•
.
B2
'
'
•
2-
,,
'
Garnet
E·l'IIHME·E E
Career
Express
Course Book
Gerlinde Butzphlal
Jane Maier-Fairclough
Advisers
Prof Dr Mario Oesterreicher
Cynthia Tilden-Machleidt
Dr Peter Tischer
lntroduction
Career Express Business Engllsh B2 is a multimedia course, which has been specifically
designed and developed for students In higher education. lt covers the B2 level of the CEF
(Common European Framework) and has been wrltten in American English.
Each of the twelve modular units is intended to take tour hours of class time (4 SWS) and focuses
on core areas in business and economics. Particolar emphasis has been placed on chooslng issues
which reftect the 'big picture' and help activate your own knowledge of the topic. Careful analysis of
lhe lexis centrai to each topic has made Il posslble to select the most frequently occurring and
useful vocabulary.
One of the cornerstones of Career Express is the conviction that students need to assume
responsibility for their own learning. The course has been devised in accordance with the principle
lhat academic study is divided up between class time and self study. To make the best use or class
time, the units concentrate on teaching specialist business language through reading and listening
activlties whlle also provldlng ampie opportunity to use the new language In dlscusslon, role-plays
and case studles.
Additional materiai on all of the topics and skills addressed in class is avallable for extra practice
outside the classroom. Work on the activitìes In the Over to you section at your lelsure. lt contains
extra readlng materiai, writing activitles and tasks for guided web research. The research work done
outside of class can serve as a basìs for class presentations. The online digitai workbook in the
student Se/f Study olfers the opportunity for lndependent practice In add1tlon to class-based
lessons (see next page for details).
• Student Web m,/er,o/.· Cllreer Express Self Study On/me pago 3
In Career Expreu 0uency is key. lt is a vital akill not only in higher education but also in
professional lire. This emphasis on natural language production has the added advantage of
enabling students to develop and reinforce thelr ability to work in a team of peers. an increasìngly
important 'soft skill'.
In short, Cereer ExpreH provicles obundant materiai ror stimulaling end realislic classroom
interaction end puts the student in the driver's seat on the express journey from studies to future
career.
The authors
l�M. M.1!!�!:f.l!if:ç/,9µgh................... .. .·
was born and raised In the U.S. end
has taught Business Studìes et a
university for over twenty years.
. ·.. .. �r!itJ.<!!3. .f!,,J.f1PMI. . ..................... .
works as a senior universìty lecturer
of Business Engllsh. She has been
lnvolved in designlng her unlversity's
foreign language program.
What's in a unit?
Warrn-up
Appetizers to get you interested in a topic, activate your own
knowledge and make you want to find out more.
Reading
Relevant texts introduce you to the language of business and
provide a springboard lor discussion.
Ustenlng
Realistic lìstenlng scenarios expose you to a varlety of native
and non-native speaker accents and traln core listening
comprehenslon skills.
Buslnese Skllls
Additional components
Audio CDs
Two CDs containing the entire Course Book audio materiai more than two hours of reallstio listening materiai.
Career Express Selr Study Online
Use your enrolment key to log into your Career Express
Business Engllsh Sei/ Study. Here you can find a wealth of
additlonal interactive materiai to help you cope with your
workload outside class:
• Work through the interacliw exercises In the digitai
Workbook at your own pace to consolidate your language
skills for each unit of the Career Express Buslnen
Engllsh B2 course. You can do a final assessmeni test
for each unll.
This section introduces you to the skllls most needed in
business, such as taking part in meetings, using diplomacy
at work, descrlblng charts and presentlng products.
D1scusslon
Plcking up on lssues ralsed In the readlng and llstenlng
sections, thls feature 1s an opportunity to share your ideas
uslng the relevant language. (Not in every unit.)
Role-play
Put yourself into the shoes of another and view a
professlonal situatlon from a number of perspectives, all
while practicing functlonal language. (Not In every unlt.)
Divers1ty
This unlque feature glves you an lnsight lnto the impact thai
culture has on business and business relatlonshlps. Bring In
your own experlence of different cultura! backgrounds and
ensure the future success of your professlonal e ndeavor,,
(Not in every unii.)
-
• There are useful Template, to help you complete
essentisi business tasks, such as wrlting resumés or
business letters.
• Ali the class Llstenlnp are t111ollable in a handy MP3
format to download.
• Watch the Video "An lnternshlp abroad" aboul business
student Rebecca doing an lnternshlp In the U.S. Each of
the four episodes - job interview, sociahzing and small
talk, presentation, meeting - comes wlth e set of
interactlve exercises to practice what to do and what to
say in these situations.
Ca-npany Case
These task-based case studies have been inspired by real
business scenarios. They require you lo work in teams, find
strategie solutions to real-life problems and present these lo
the class.
Useful expresslons
Usts of lmportant functional language to help you wlth
actlvities. These appear throughout the Course Book and in
the Useful expressions lìst at the back of the book.
Turn to page 172
to find your
enrolment key.
I
Table of Contents
Unit 1
Applying for an
internship
• Talking about career skills and
persona! qualities
• Describingjob responsibll�ies
Reading: Ri!eruiters' pet peeves
• Discusslng workìng conditions and
what's essenllal In a job
• Writing business emails and
respond,ng appropriately
Read,ng: Besi places to work
• Dìscussing and evatuating customer
service
• Functions or polilBness and
dìplomacy
Read,ng: Customers' complaints
• Describing types or retailers and their
products
• Describlng charts and anaty.zlog
fìgures
Reading; Discount food chalns
• Discusslng aspects or globa li?ation
• Us,ng the language or trade and
transport
• Complaln1ng and apologlzlng
Readin�: Trouble wilh Trade
Listen,ng; Tatklng about
professional lite
page 16
Unlt3
Cuatomer aervice
Losten,ng: LEARN,ng to hsten
page 26
Unii 4
Selling to the
consum er
Listen,ng: The lowesl prlces
aroond
page34
Unlt 5
Globalization and
international trade
Losten,ng: The con1a,ner
revolution
• Understanding end dlscussing
manufacturing processes
• Talklng about produci speciflcatlons
LostPn,ng· Production end its
management
• D,scusslng marketing strategles
• Givlng clear and welhstrucrured
presentotions
Losten,ng. Passlng lhe buck
Read111g: Blrth or the coot
page 54
Unlt 7
Marketing
oommunioationa
• Discusslng debts and cred,ts uslng
the language of banklng and rlnance
• Consldering dilferent rorms of
irwestrnenl
Unlt 8
Debts, savings and
inveatmenta
Read111$1' AlternatNe methods or
mar1<etlng
Lostl'n,ng: The debt trap
Read,nR: Types or lnveslments
page 74
Unii 9
Company atructure
• Descnblng and contrastlng types or
organlzat,ons
• Describing one's pos/tlon end role In
an organization
page 84
Unii 10
Accountìng
• Using accounllng terminology
• Understanding financlal stat:ements
• sortenlng c1illc1sm
• Tatklng about a country's econony
• Using the basic terminology of
econom,cs
page 114
Files page 124
• Discussing entrepreneurship
• Understanding the organization or a
business pian
• Usong tega I termlnotogy to describe
company o,mership
Audioscript:15 page 141
Alphabetical wordlist pa»! 157
L,sten ng: Spider and start,sh
organi?atlons
ReadonR: The structure of
organlzations
RcadinR: The Enron Story
L1sten,ng: The world alter Enron
ReadinR: The BRIC countries
L1sten,ng: Tectonk: shofts in the
globat econony
Losten,ng: Setting up a business.
Read,ng: The Corporate Fitness
Business P1an
Useful expressions page 166
Discuss,on Making your
resumé stand out
Rote-play: Selling yourself
Dlscussion; What matters
in ajob?
Rote-play: How to make
good people stay
Applylng tor an lntemahlp
• Drafting your resumé
• Dralting a ccwer letter
• Preparing for the interview
• Selling your USPs
Profesalonal emalllng
• Sending the right message
• Getting the answer right
• Finding the rlght style
Rote-play: Complaining
and .apologizmg
Telephoning
• Business to customer (B2C}
• lmproving your lelephoning stdlls
• Evalualing telephone
performance
Discussion: The future of
retalling
Chorta
• Understanding bar and pie eharts
• Descrlbing bar and pie eharts
Rot�lay: ChOoslng the
right distribution ehannel
DI• us ,on Think ing
about globallzat1on
Rot11-pl•y: Small talk or
deep talk?
Telephonlng
• Business to business (B2B)
• Making small talk
• Saying the right thing
01, ussIon: Can business
expertise of the 20"'
century stili be applle<J
today?
Rote pl•y: Bringlng your
marketing knowledge lnto
play
Pre•entatfone
• Openlng and structurlng
presontatlons
• Reaching your audience
• Prepanng siide s
• lcebreakers
DI:.. ussIon: The banks'
interest
Negotlatlng
• Achiev,ng a good deal
• The key stages
• Gettlng what you need
DI:.. uss,on: Talklng about
organlgrams
Rote pl•Y: CommiUce
worti: at un,wrsIty
Meeting•
• Gottlng ready
• Partlcipaling In meetìngs
• Aeting as the chalr
Video 1 lnterview
A clash of culture•
Understanding cultura/f)I
derermined differences in
mo,tivatian
S...-vice deaert?
Decfd,ng how to imprcwe
customer oorvice
Th• rlght part of town
Finding the righi locatlon fOf
rhe right customers
Chlldren at rlek
Decfd,ng how to best
protect the consumer
w1/1Jout SIJCfiflcing proflts
• Finding lhe other halt. statements on work
and pay I Vocabulary
• Formai and Informai styte in emal!s I SkiD•
• Forming questions; asking about worldng
cond1t1ons I Orammar
• Customer servlce verbalized I Vocabulary
• Telephoning: anticipatlng the customer's
needs I Sklll•
• Tìmewise: for - sinoo - ago I Orammar
• Adverbs: Comparalwely speaking I
Orammar
• Frequen!ly eonfusod words: account for and
amount IO I Vocabulary
• Then and now: oomparing pie charts I Sklll•
• Apologll:lng tor a mistake 0< an
lnconvenience I Sklll•
• Using preposltlons of time I Orammar
• Using the r1ght wrbs: from warehouse to
customer I Vocabutnry
Croaelng bordera
Decfd,ng on a new tocatio-n
for produci/on
OkobrauM
Launchlng a produci on a
new mllrilel
• Verbs used In produetlon: be precise I
Vocabulary
• The passive: talking aboul produc tion
proeesses I Orammer
• Descrlbing a produet features and
speclneations I Skma
• Quantiflers: some, a !Ot or or hordly any
marketing? I Oremmer
• Collocatlons: runnlng an advertislng
campalgn I Vocabulary
• Opening end closing a presentatlon I Skllls
Vld.a 3 P,uenl10on
Flndlng the rlght
partn... overa•••
Wilat is SUS/8/fllJble banJdng?
A marrlag• of
oonvenlenoe
Making a cross,.cultura/
mergerwoo:
• Noun/verb eollocations: lnerease your
lnterest I Gl'WTlmar
• Do you take your risk small medium or
large1 I Vocobulory
• Linking offers to condltions I Skilla
• Pos1t1ons In oompany hierarehy I
Vocabulary
• Get the verb rlght. s.iy or tel I Grammar
• Openlng end closing a meeting I Sklll•
Vidao 4 M.ttlng
Disc us�Ion: Corpora te
traud in accountlng
Talklng about balance sheets
• Using the righi terms
Oiplomacy
• Breaking the bad news
Rote- play: lnvestor's
choice
Deao<ibing trend•
• Describing and comparing
economie grcmth
• Wnting a graph descrlptlon
Discuss,on:
Assessing lhe
economi e viability of a
business idea
Dealing with cu/1.lral shock
dtring 111temships abroad
• The role of tenses in eareer talk I Orammar
• Action verbs for the job-hunt I Vooebulary
• Talking aboul your achievemen!s I Skllla
VId.a 2 Socl1ltzln& nnd 1m1II talk
P.-.a•ntatlona
• Presenting a produet
• Describing a product
Rote- pl•y: Negotlate your
dream car
A challenging
int.mahip
Exocutivo 1tummnrio1t
• What are the key issues?
Ualng legni termlnology
• Describing a compar1{s legai
structure
A bnck office in India
D(l(;/ding on m<Nlflg
accounting offshore
A muttinational'•
atretegic appt"oach to
the Chine•• market
Strategie management
takJng the righi decisions
Th• pitfntl• of
franchising
Anslyzing business mod9fs
anci their lega/ implication.s
• Accounting collocations I Vooebulnry
• What you own and what you owe: balanee
sheet terminotogy I Skllla
• Conditlonats: specuta!ion, speeulation I
Orammar
• Verbs and nouns of change with prepositions I
Vocabulary
• Mixed tenses in graph descnptions I
Oram�r
• SummariZlng inrormation from a graph I
Skilla
• Putting together the executive summary I
Skllls
• Starting a business: legai vocabul ary I
Vocabulary
• Future tenses in a business pian I Grammar
Leomlng Focus
• Telkìng about your education and
job exper,enee
• Preaentlng your skllls, ab11it1es
end achle11ements
• Wrlung a resumé
• WriUng a cove• letter
Warm-up
Have a look al the Job advert below. Would you be lnterested In dolng an lnternshlp
at Amttrlcan Fle/ds? lf so, what makea lt lnterestlng lor you?
- Amoncnn F1elds: mtornsh1p opportunit1os
r!J Vi sit our web11te
Self Study
l::::'.I Contaci Amorocan F�ld1
American Fielda' intemahip program
• The role of tenaea In career talk
• Usln, thc rl&ht odjcctl-.ea whcn
marketing yourself
• TalkJng about your achievements
• Understand1ng job adverts
Amerlçen Fl-ektl la baHd In 1he U.S. and known wort<twlde tor lta lnnovoUve
food p,oclucta. Wa're looking tor tal!!ntod <l'ld�uatN from • wide
rM9e of bacl<Qmunda who era lntereatod in taklng pe,1 In an Wemetion•I
lnternohlp program. Good Enghah lo o muet. Prtlerer.ce wlll beglv.., to
epplic,inta w,th a NCond 1011,gn lllnguaQ•. Il p011<ble Spanloh.
Vour llllka oYOUld include
onalyling markot tren.i.
• ldtntlfylng end 111alullllng bualn- oppoitunitiH
• worklng In taomo to davetop plani tor new p,ocluct• ond ,...., p,ogra,,.,.
Our lnte,....,,� are full•tlme, peld �tlons. Vou would be worklng In a you,g ond
ene,vetlo toam. W. can adlutl atart end end datN lo aoadamlo aohadul11 but you
mu1t be pr-ed to oornmtt yourMN lo Il 1-1 two month1 ol luM•lime work.
Watch Rebecca lorenz applying lor
an internah1p al Exhilnte, lhe New
York-based sports event agency. WIII
she wln over Nan Robinson, the
charlsmatlc boss?
Emrul us ycur d•tails to klltcOlbiAIINDKICIOfitklt CSID
Listening: Finding an internship
1 How would you go about findlng an lnternshlp? What has been your uperlence of
looklng for an lnternshlp?
2 Match the terms on the left wlth thelr deflnltlons on the rlght.
transcript
2 application
3 degree
4 major
6
5
resumé
6
compensation
a
a student's main subject at college or unìversity
b the payment for work performed
e
a written request tor sth such as a job
d an outline of the main events in a person's career de.relopment
e the qualification thai you get alter completing your studies at
university
f
a universìty's list of the courses a student has taken
--•
3 Form collocations by matchlng each of the adjectives on the left wlth one of the
nouns on the rlght. One noun wlll be left m,er.
company
skills
letters
office
deadlines
negotiable
customized
corporate
valuable
4
The student organlzatlon fnternationaf Student Network ls hosting a panel
dlscusslon on how to flnd your dream lnternship. LIsten to the followlng people
describing thelr experienc,es and tick the correct boxes.
Jennlfer
Mare
.;
Found h1s/her intemshlp online
Found his/her intemshlp through connections
Marlon
Brlan
Slmon
Created his/her own lnternship
Was pald lor the internship
Rece1wd no compensatlon lor the lnternship
Speaker provides no information about pay
Talks about his/her job inlerview
5 LI sten to the lntervlews wlth three of the speakers agaIn and fili In the gaps.
Mare
1 I'm .. ..
. In accounting and so I began
... on a number of websites in thai f1eld.
2
I was about to give up my
. when I found the perieci
and included houslng.
3
the applicatlon and was golng to
had on rrry computer.
. lt ewn
it
Jennlfer
4 I
from Leke County Communlty College In May wlth e
Management.
5 One week later I found myself slttlng In the
with S hlrley - my
Marlon
6 Then I
know,
7
Office
at bookscnlìne.com meeting
to six or them, stressìng rrry personal qualities - you
I can only recommend using your own imagination and creativity. lt is one way to gel
around the
and really
6 Llsten to Brian and Slmon talklng about thelr experiences. What was stressful
about the recrultment process they took part In?
7
Cli!'!
Dlscuss the followlng questlons:
2
Whal motivates students to do an internship abroad?
What are a company's motìves In employing lnterns7
� Oifferenoee in U.S. end Britiuh English
Amerlcan Engllsh
• resumé
• to graduate from hlgh school
• to go lo college
• to do an internship
• cover letter
Brltlsh Engllsh
• curriculum vitae (CV)
• to do your A..Jevels
• to go to universrty
• to do a work pi acement
• covering letter
7
1
_______
Applying for an
fntemship
Reading: Recruiters' pet peeves
1 lmaglne that you work as a recruiter In the Human Resources department of a
major company. Every day dozens of appllcatlons arrlve on your desk. You must
make qulck and efflclent declslons. What crlterla would you use?
2 Read the artlcle end compare your crlterla wlth those mentloned In the text.
detalls or yourexporlence that are most
relovont lo oach compony.• For exomple,
o a young woman applylng to an online
lravel organlzer sent a brlef appllcatlon
rrustrallon. ·Many apI,IIcants don't seem
dlrecllng tho n:ader 10 hor own very
to be aware lhal thelr resumés wlll be
professlonal "ebslle. On t he wellslle she
rood on com1>ulcr scrccns,· solei ono
had clocumenled her own recenl trlp lo a
manager. Recrulters are also annoyed by
'IO numoor or ASlon rountrles olong wlth hcr
lnformallon that Is poorly orgJnlted or by
persona! quallficallons. A design student
pl'rsonal lnformatlon that ls not relevant
0I1plylng 10 a l'amous fashion company
lo the Job. l'hey partlcularly want to know
oncloscd photoo or clothes st10 had
whJt o candldate's rocus Is and whot hts
created herself'wtth her appllcallon. And
or her achtevemenls are. A1>I >llcants who
�5 lhon lhoro Is a story about o youn,I! man
do oot meet lhese 8Xfl8t1atlons ;hould
who desperatcly wontcd lo work tor a
not be surprlser1 tr I helr appllcatlon tands
fJmous IT company. Ile oppeared In tho
In Hle 13.
ornoo oflho ltR omcer ond Sllld ho was
Many r.:andldates soem lo lhlnk they
propored lo watt untll he coutd dellver hls
can use the some resuma ror applylng to
60 resumé 10 her in Jll1rson. Aner slx hours
any Job. One recruiter compares thls lo
ho rtnally got an lntervlcw.
buylng any old sull offtho rock and thon
or courso, unusual approaches should
rushlng 10 chul'ch roryour weddlng.
alwuys be used wlth dlsrrellon. Tho
·cand.ldates should tallor each resumé to
lmportant lhlng 1s to moke your
nt lho Job they're applylng ror: sho says.
6l appllcatlon stand out rrom the do,ons or
• Eve ry company and every position is
hundreds of otbers that the recruller wlll
dlffo111nt, so you have to hlghllght tho
be deallng wlt b.
Recruiters' pet peeves
,
10
.,
:zo
Several lhousand recrulters rrom a
varlety of lnduslrles across the U.S. and
Conodo worc rooontly lnlcrvlowcd In o
study made to determina why resumés
gel lhrown lnto the ·excluded" pile.
Recrullers recetve hundreds or
resumés a day and can orten spend only
5-10 soconc.ls on each. Undor.,tandably,
they want 10 norrow down lhe range or
appllcants and the best scrategy to do lhls
ts through the 11rocess ofellmlnntlon. The
human resources protesstonals conressed
that they look ror reason, 10 excluda
resumés, nOI Include them, and that
resumés are generally excluded on the
basls or Lhe recrulLers· pet pee�-es.
There was a hlgh degree or consensus
as to what tbese pet peeves are. They
start wllh spelling orrors, t yI1os ancl poor
grammar. Poor tormattlng was also
rrequently named as a source or
1
8
,o
"
•o
Discussion: Making your resumé stand out
lii<- 13 che tmsb oo.n
The manager of an aà,ertising
agency • A bank manallilr • A fast
food cha,n Jooking fora franchisee •
An NGO looking far a PR director
2,
In vlew of the fact that there ls so much competltlon on tha Job market, what can
you do to prevent your resumé landing In File 13?
2 Apart from the tradltlonal cover letter and resumé, what other media can be used
to apply for a Job?
3 What would the people llsted In the box on the left expect from a promising
candldate's applicatlon?
Business Skllls
_____Il
Applications: Orafting your resumé
1
You have already heard Simon talklng aboul his internshlp. Read his resum6 below.
Has he followed the criterla mentioned so far?
E
Reoumé ..ii,n,
Skills
SJMON MICHAEL HULL
PE RSONA!.. DATA Addrcss:
Himmelgeistcr Str. 49
40225 DUsseldorf
Oermaay
Bmail: smhull@yahoo.com
Phonc: (0049) 211 634927
Mobile: (0049) 171 2 516304
Date of Birth: Fcbruary 10, 1986
Nationality:
German
Seeking a mm·keting i11te1·11sl1ip ;,, a 11111/ti11atio11a/ compa11y i11 t!,e U11itetl States
------------------- EDUCATION -----------------Unher.ily or Applicd Scienccs DOs."Cldorf
BA nn Business Studies - Expected date of igmduation: Scptembcr 2011
Curirent grnde averoge: 1, 7 (oorresponds to A-)
Degrce Progmm Highlights: l n1ernation:1I Business Economics, lnlercultural Mam1gement. Generai Business
Studies. Accounting andTaxation, Busines:s Spanish, lnternational Marketing, Regionnl Studies
Goethe Cymrm,ium. DUs,cldorf (secondary school) Gradunted in May 2005
Knlumuzoo, Mlchlgun High school year, awarded a high school diploma in 2003
-------------------T RAININO-------------------
200<1-2008
MflhlcnfeldGmbl l
1\vo-ycar training progrnm at n mojor paper manufncturer
• Gained cxpcricncc in the following departrncnls: Purchasing, Personncl, Marketing, Production, Accounting
• Ccr1ifìc11te Industriai Business Management Assistnnt (lndustriekaufmunn)
MenkelGmbM
lntcrnship in the Marketing depurtment
• Cnrried ou L cusiomer survey by phone. oo ltected nnd processcd data
ThyssenKrupp Cmbl I
Tcmpol"ary Job in thc Purchasing dcpnrtmcnu
,ummcr 2009
Fcbnmr}-,lnnc 2010
• Assiste<! lhe 1T officer in se11ing l!P new �upplier dnluh�so, çbeç'.king !!.lld l!p!!mù1g çystomer d(1tahasçs
----------------- ÙTIIER EXPORlllNC'B ----------------lOCX) 10 present
Pn-;idcnl or studrnl orgnniiation in the Dusiness tmlics dcpnrtment
Rcprcsenl studcnts in fnculty mcctings and advisc flrst scmcstcr student durìng Oriontotion Week nctivities
Studcnt as-<.istnnt 10 Dr I lcrbcrt Schmldt. Profl.'Ssor for Accounting
I lold 1u1orinl scssions and assist with rcscarch
Co111111unit} M!n il'c u� purmuedlc (alternuthe l o milltury M"n'IL-e)
Drove an ambulaace. assistec:1 doctors :md worked in II hospitaJ
Coun<,,elor at Ston) Ridgc Summer Cump, lmliun Bn), Michigan
Taught tennis and swimmiog and worked as 11 cubin leader for the: age group 10- 12
100810 present
2005-2006
July-Augusl 1004
---------------- SPllCIAl, SKJW
Nea r-nativc profìciency in English (CEF C 1)
• Good knowledge of Spunish (CEF B 1)
• Basic knowledge of Freoch (CEF A 1)
• Proficieul in Word. Excel, PowerPoiot
------------------- INTHRli'STS ------�
2000-2004
American football - Played for four years on loca I team
Saxophone - Have playcd thc saxophone since I was tcn, played im university big
band for two ycars
References arnilablc upon request
2
Sklm Slmon's resumé again. Does he have any special skllls or Job experience
whlch can be used as hls unlque selllng proposition (USP)?
In what w,ry do you thlnk his skllls and experience would be va luable for American
Fie/ds, the company whlch has offered hlm :on lnternship?
9
1
Applying for an
intemship
-E
Word p8ftf'lershipswrth 1cc1on
14,b, for the Job llunt
Vocabularv
Actlon varba
-
-
Business Skllls
3 When writlng or talklng about your Job experience, lt ls lmportant to use actlon verbs,
because they show the employer whlch skllls and abllltles you bring to the workplace.
Form collocations by matchlng each set of actlon verbs on the left wlth a noun on the
rlght Sometlmes there 1s more than one posslblllty.
Nouna
Collocatlona
carry out
deatw,th
a pian
1ake care of
campai(Pls
handle
customers
analyze
a database
compite
day-t<>-day office work
implement
.
decislor>-making
1mprove
machinery
mana�
.
/presentattons
operate
. .
.
part,ctpata 1n
prepare
research
reports
research
statisties
eet up
I
10
4
Wr/ring I f6$Um6
• O- to you, f>a86 t5
Now thlnk of your own work experlence and write at leasl flve sentences descrlblng the
Jobs end asslgnments you were responslble for durlng your training program or
lnternshlps.
Business Skllls
e
Applications: Drafting a cover letter
Undetv.,nclrteJIHIIMrt&
Readino
1 This is Simon' s letter of application to American Fields. He tried to adapt it to the
internship whieh was ad\lertised on the company's internet site. Read the advertisement
on page 6. tn hls letter di d Simon referto all the points in the advert?
Simo11 Midwel Ht1II
Hirrunelgeister Str. 49
40225 Dfisseldorf
Gennooy
smhull@Yahoo.com
Mr Rudnc:y Smith
Amerlcru, Field.s
1000 Minnehuha Dri'4 'e
MinnL-apolis. Minnesota
55039
USA
Aprii I
s. 2010
Ocar Mr Smitb:
A
I \\'Ould Jjke to apply for the position of i..olero as adve·rtised on )'òur w�bsite. I belie\'e lbàt my
back ground. training� work: experien<--e and edu�nìon bave prtpared me fòr lhis job.
8
I bave atways been incerested ill 1he food marke1 nnd esp,ecially in 1hemarket for organic foods..
kno,.,,. Germaoy has one of the largest marbts for organic foods iJl che world
and as my parems ha,re been runiiing an organic supermarke1 for the lasl ten yeats. I bave a good
knowlcd g: c of thc nau1r:il foods busioeslt- I am ocrtain that this knowlcd gc ccukl l)en cfit American
fie1ds. In addition to that. I am a very Q01l9Ci�ntious W\)rker_ My organizstional sk.ills \1,-c)Uld be an
ssset to your comp:rny. lbaok.s 10 au exteoded stay in ,hc U. S.. my English is ftuent and I also spes.tc
good Spa,nish.
As you probably
e ··-····-..- ·-··-...··-..-···---
ouriJlg my ,,...-o.year trainiog period at Mùhlellfeld. a JXlper manufacrnrer. I was abte 10 fomili.acize
myself "'ith the Y.lrious deparunenu or a compally. This experiencecollvinoedme that I woukl
Hke to pursue :.l ruU-ti.me career iii business, if possible in the food sector. after graduating froin
u.niversity.
Ol
I am enclosing my resumè aod 1 woutd be happy to pro,•ide references upoo
request.
I can be reached by pbone at (0049) 211 6349.27 or onmy mobile ai
(0049) 171 2516304. I look forwal'd to bea.ring from you,
Tlmnk you for your a·ttc.ntion.
Sinocrcly,
51_,,.,41,diadf/wl
Simon Michael Hull
E.nel.
Il
1
-------Applylng fO<" an
intemship
Business Skllls
2 A letter of appUcationt can be dlvlded l nto foul' mafn seetlons.. Read Slmon·, letter
on page 11 agaln and label eaeh sectlon w1th one of the followtng functlons:
Skills
background
USP {• unique sellin.g proposition) or what makes hlm special
hirther s�p,
,eference and re.ason tor appltC&tion
3 Applying successfully for a job or internship is ali about selling yoursel1. Using
meanlngful adjectives helps you lo emphaslze your strenglh$. Mere ls a 11st of
adjectives which are ifrequently used in applications, Sort them into the grid,
How to SW'f th1t
accP.'e • adaptab'.b • ambitiOl.t$ •
llllll�lxat • C011$.oientioois •
you hirve objitctlves
C01TVT1ooicaU.-e • aeac�e • critieal •
you are good at whatY'()u do
decishe • determined • 6/flamic •
fled,le • good with numbers •
S'lno,,alive • h�rl"B • mct.hodical •
motivateci • r"a ble • wdorpnized
you are good with people
you like getting things done
you think outside the box
4
I
Writ.i,,& , coro.t'leuer
- O..,, loyo14 p,go 15
Adjectivo
lf you were to apply for an lnt ernshlp atAmerican Relds, whlch strengths would
you mention in your cover tetter?
Choose fiw of your strongest persona! quahties and sk1Us. lhen think of a situaition in which
you showed each of the se .strengths. Oescti>e each situation in a sentence.
Shaè !his wi!h a parti\è r. Expl&in wty \'Oli !hink thè situations you dèseribèd show a sj)èeial
&trength of yours.
Role-play: Selling yourself
You h.ve five mlnutes to present yourself as lf you were golng to apply with a
video. Include what y<>u have done and achleved so far In t:erms of educatlon,
training end work experience. Act this out in pairs o r groups of three,
I graduated from -· in -·
I did a trai'ling prog,am at -·
I receh-ed a oe-rtific-ate io·1 gained a lot ofhands-on�perienoe
duiiAAmy ...
I hwe attonded ktcturn tn ...
I am majoring in·-
I expect to rece;..e my degree in -·
12
Sabinewas an lnternationaf Business Studies major
whowas required to do an intemship abroad as pan
of her déwee. When hér fellow ttudenu began to
1
apply for jobs m lhe U.S. and Canada, she hit �on
what she considered a unique ide,. wtYj shou1dn't she
look for arl internship 1n India?
On www.inte.mshipsinindi8.org Sabine found a
start�up tour operator in Chennai tatgcting foreign
busl'leu ttavelers. They were looking for an lntém to
research the travel needs and beha\'Ìor of Europeans.
in India and generai),, helpwlth marketing to lhis
group. The internshlp even pa;d a salary t.hat was very
gene rous by lndian standaròs. Sabine .t1ppl ied and wos
acceptcd immedi3tety,
1ft )ùllt sllé fléw to ChMMI Md WàS g/ééléd I>\' Mr
and Mrs Sl'lcmbelc8r. the cwoors of thc company. She
dlse<wered that tlw, had arrMged foc oomfortable
accommodation for het m their own ne1ghborhood.
After a oouple Qf day, to acdirnati1e, 5he beganwork
and was greeted warmly by fler new colleagues. Thc
wort was in�resting and shewas praised by the
Shembekars for her contributions ,
Ouring the fifst two wooks Sabine was exhiatated by
the sights and sounds of the cityand lire in th&s exot1e
culture. She was usually surrounded by people,
especialty by the Shembekars and theìr extended
family, so she did not feel looely. In the third week she
realized thai her mood had changed dramatically. TlV?
hcat w.as gctting to �r and shc had bcgun to long to,
Western food. Soon after she began surterin.g from
insornnia. � sigh.t of beggars in tM stf('(lts dél)(esse-d
her no eod .and even at worl:: she had mexpllcàble
cryingjags. ft became more and more difficult for her
to function .and she W,11$ seriou,.,_ oonsid ering caling
ÙlCwho!o !hit>g off and going home.
Research yourself: SWOT analysis
1 A pel'Sonal SWOT .analy,ls ls .a powerful technlque to ldentlfy yourt skills, calents
and abHh:les. Knowlng thls makes your Job searc.h more focused and successful.
SWOT stands for Strengths, Weaknesses, Oppor t unlties and Threats.
Take a large piece of paper, divide the paper in\o four quadrant& and label each
area like t.he page below. Then look at each area and consider the ques tiona.
weaknesses"
Strengths"
What can you do especialty weP?
r your
What do OV'ler people con side
What Skills do )'Oli need to develoP
improve?
°'
sttengths?
What do other peOf)le cons.Ser your
�aknesses?
e,cpevie¾ce
,, eJ."'c""Ho\\
,
l<>1c\: o{' wov\:
•
eJ."c""\-\ol.\: t.ow "'""""�s,
,, wov\:.
,
stvo"' \-ec\,\"ic"'l
\:"owle.A�e
srec\-lìc
,
*
s\:i\ls
re,so""''
cl'"''"'cl-evisl-ics
e,crev,e"ce
wvo� """'jov
,
we<>1\-. 1-edl"ic"'l
\-."<>wle.i.,e
• sl<ill J.e-1kil• "e'"'l-ive revso""''
d,<>1v<>1ct-evisl-ics
Opportunities••
What current trends could be to your
8(Nantagc1
What sk:iOs do )OU have that your
competition lacks?
•
rosi+-ive \-Ye".As '" yov.v
•
"e\-wovl:s
-lìe\J.
"'
Threats •
What current trends could put you at a
disadvamage?
What ls your competition doing?
, "e'"'Hve 1-ve".As
, co..,relil-ovs
Strc11gtl1,. '-'d 1,eakoo5MS form an
Innate pati Of ""·ho yoi, are and )'l)Ur
ch11ractertsbc.s. They 1Jre w1lh1ft )'OUr
oonm
'· Opporco11i1r.11 aoo 1hrca1� •re
norm11uy e.ttern.11 :md beyond yuur
(l)fllrol. OJ>portunltl� rd� to 000-­
dit!ons whJd\ could be t,elprul to
echlevlng YoUrobjectlvt. Thteats rtfer
IO conditi Oft$ w1tkb <:an oe,ged\iely
impJICI )'OI.II oblea:1,'ill.
2 What lo say when asked abou t your weaknesses in a job lnterview? On page 15
y6u will ftind &l"I exeerpt fr6m I b6ok eallad BHt An.tWN1 to the 100 Mott .CAQ1 jn
Job lntervlew,. Study the e.xeerpt, then look at your SWOT ,n,lysl• agl'lln and note
idea, about how you could dea! with your pot.ential weaknesses in a job interview.
Practiee pretentlngyour$�f wlth anothe r ,tudent.
14
Wh:.it do e.mplo)t>rS wanl h> IHt-ar wlwn askiu.i,: ••\Vhut are your ,n.itknesses?''
Whet dley really want lO k.now i.s:
I What risks are they tiking by l'iring)'llu?
2
3
4
How do yoo reactwhen 61.lch a question is tluCMn at yov?
Do you hall!'! aweaknessv.hictl cannot easij be ootrected?
Oo yov ha\l! •v,eaknessv.hich would ha� a 1rvlynept�
lmpact Qn you, pe1f1.Tm�n01: ln the Job7
So don·t tdl them lhal you bave h.ad :sevne di«.c:ullies v.ith your
11-i,clling sinc:c .socond .gmtle al school bccau..se il show.s thai thi�
we�s of you.rs c-1nno1 be correc1ed.
Te.Il them instead :'lbOUt a weo'llmess you are workjng t11 O\'ercomins,
e.g. th:u you bave di:fficu,lties: with spe..1king in public bur th3t )'()(I
bave .ilh.mdod St'\'eml pr�sent.i1ion seminars whkh bave hdpè<l to
i.mpn,'t-e your confidence.
Whal employers rè'-dél 10 mos1 posith·ely h when you .are ho1.est àbout a min<w wea.kness whkh you bave betn àble lo tum inlò
soincthing posilh·c. So for cxamplc you could t.:::11 them tho'lt your desk sometimci. bccomcs quite disorgsni1..cd but now you foircc
yoUJ"self I<> lidy it up in tbe evening so thai ew,rything is orga.nized wben you s1..i.rt again the next monùn,g.
Web research: Job opportunities on the net
Thlnk .about ;,n area you would li:ke to work in as an intern abroad or a for't'lgn
eompany you are lnterested In. Then gel on the Internet and search for a sultable
position. Print out the job description and bring it to the ne.xt session.
Writing: Drafting your resumé
After you have found a ,ultable ofrer for 1n intemshlp on the intemet, write your own
ruum� In Englls:h. Make sure that all the polnts llsted are relevant for the job. Also
take th� issues discussed in the unit regarding a good resumé 1nto considerallon.
Below you will find a list of seleeted aetion verb&. Try to integrate as many as possible
when drafting your resumé.
evaluate
netv10fk
shape
COA$Ult
form
found
generate
guide
ot>serve
orgenize
perlorm
simptlfy
cc>ordìnate
coneot
pl•n
idcmify
prcpate
d..ign
develop
discOYer
imprcr�
i:,v-ezent
p,omotè
realize
disrribute
l&unch
double
lectu,e
acoomplish
consolidate
a<:hÌe"le
advise
analyze
aman,ge
corrospond
create
ottain
be reoponsib!e for
butld
calculate
coUect
combine
compier.
compose
condense
drwwup
edit
establish
increase
introduce
manage
mainuii'l
negotiete
redesign
rep<1rt
sol\,e
streamline
Sllengthèn
sltucturc
511cceed
suggest
suppott
teach
train
,e-search
sehiedule
Mt-t up
B,-Jng your resum, lo the next class for feedback.
Writing: Composing a cover letter
Now write the accompanying cover letter. Mak't!, sure th.at you referto ali the
reqvlriements llsted In the Job advert. Make svre you use at le.ast flve aetlon words
from the list above. Brin.g yovr c°"'er letter to the next class for feedback.
15
Work and p(l)ay
Warm-up
Lenmlng Focus
• Deecribing y01.1r job and working
eondifhn$
• folklng aboot bcnefit:; at wOf1c.
• Wrlung busne$$ tn�lls tnd
rcsponding appropriae.et,
What are you looking for in your future job? Rank the following in order of
importance for you.
jobsecurity
opportuni t�s
.
'°'
p,omotion
Self Study
a stimulating workplace eruìronment
• Wridng an email to reschedul!,
emeetl1,g
a flex.ib!e working schedule
a high salary
• Aa,..1n, ,nd ,i.,&«<lns
• RecogfUZ1ng parapJ-,rascd kkas
a good wofl...lifc ba lance
an opportunity to work internatìonalty
lhe reputation of the comprmy
fringe benefits
Explaln youl' ranklng Ilo youl' fellow studenu.
Reading:
Best places to work
1 Coogle i s oonsidered to be a very desll'abJe employel'. What have you heard about
working conditions at this company? Before lo oking at the artiele on page 17, jot
down a few benefitt that you would expect t o flnd there.
2
Scan lhe firal pori of ·the artici• lo llne 39 to ,.. 11 Goog/o lln fact offera theae
benefits. Which benefits did you find that you had not expected?
3 Now read the article to the end. Which of the following per-ks are mentloned at the
trvc
16
fol&e
compeny Boffon Consulting Group?
...._. I
2
··-· 3
.._. ·-· 4
5
Employecs can chooSé thc clionts thèy want to wort with.
The oompa� ottess courses in p,otessional devctopmcnt.
Worl<e,s who aro puf'Sui,og a uniwrsity degr't8 (8CCf.'8 hf}!p with foes.
An emp!oyee's husb.and or wife is in-StKed along with lhe empbjee.
The com� provides a kindergarten for its workers· chiktren.
1---------------•
Where work meets play
Playfu'I pcrks propcl Googlc to top of
Fortune's 100 best places t o work
SAN fW\NCISCO Ooes this sound like
yùl.lr wQ1kr:,IJ:tOe: 011-$1le 1XKJI, 11
5 go�t restaurants, pool t.able and
<:hmbtng WòU, plus unhmitcd s,� lcove,
five we:ek:s' paid time off after a year on
thcjob, $8,000 in tuition ,eimbursement
and classes in foreign languages?
10
It's a Solfe bct onZv Googfc Jnc.
emptoyees woukl answer that questioo
In the affirmattve. 'Jhat helps E>.xplaln
why Google catapolted to the top o f
fòr'tune't 11$C o r ....r he 1 00 bl::s t
� compan.es to work f of"' I n t he oompany's
fi0,1' ye;ttl 3S M tt1Utlnl.
Goo,gle's pcrks ·are quitc amazing,
but aloo what r eally pushcd thcm ova­
the topo was thc cnthusiasm of
to cmr,tovccs who work thcrc thcy just
love working there," said Milton
�·1t2, a New Ynrk·based wri.1er aod
co-aur:hor of the list with Robert
l.e:ve<ing. i..evertng 1t1 a co-founder o( the
2S Grear Piace to wor1c: lnstrtute, wh,dl
slu 'veys 1he emJ)loyce$ and (',(1mp,les, tlie
list fo,- fortune.
N. Googlc, "fun thmg:s go on thcrc
that: doin't go on ar othcr co�nies,"
:,o Mosk<M•itl: s.c.id. '"You a,n come to wori(
in your pajamas. Some come in tuxedos,
_JU'ìt M a contrast t o the pa)8maS. They
haYe all these games going on there," he
$&td.
:u
News of Google's wOO:p&ac:e perks wtU
nl) c.kmt,1 ll\11'11f> hi0,11:!r lhe $Olllt; 1,300
rcsumés thc oompanv rcccivcs cach dav
on �ge, but it's not thc onlv firm
that's likety to sce- a rise in applications.
,o /Il. Boston Consulting Group - No. 8 on
the overall list and No. 1 on the break·
,�
,o
u
oo
li�
7Q
,�
out 11st ot besi: small compan.es
employees enjoy setting their own
career paths, sa.et Kerm,t Jùng, a
0.1c.ago-based partner at the 8ost.on
fim,, wh•ch t::mµloy$ �IXl\11 1,.500
pcoplc in thc U.S.
·eor,sult.onts brc l.t,rgelv free to
choose from a Yariety of industries or
topiail problerns .ond to detcrminc thc
sha,pe and uajectory ot their career
and the types of work that they work
on <Nff time," King satd.
8ut wcw'lc:ers 11ren't wlthout help ,n
forg,ng that path: BCG spends time
aod ,no,iey <>n e:mr)lòyees" 1)1Qress,onitl
dc Yclopmcnt. 1nc oompany Ms c..,rccr
develotitnènL eo1.r1sdor'S on lheir staff,
King said. Plus, some workcrs have an
•off-lOC sponsor who hn M uttcrly non-­
evaluative rote and who is there: solety
as a mentor, soundmg board, and
confidante."
Al!.o, the comc,any offers classe$ ,n
communication skilts, as well as
ted'totel!II tra,niog. "You really eod up
wil;h a gcncr.,list cduC,clll:ion in business,"
'GrnJ sa.d, (IH •whale hei119 welf..pi,id."' (._)
BCG cmployces alset cnjov 12 praid
wceks of m;,temity Jca..,c (fOf" rcglA&r
part-time: workcrs, too,. and mothers
who adopt), full benefits to spouses and
domesbc partners, anct emergency chdd
care, free to wortce<s In most U.S.
locations.
Yu,ur c;c,mp.,ny n,exl1
t4isvl,e y.;"n t;(MnJ:iilny isn'I 011 1he li�.
Thc good ncws is some comp.>njcs �
don'l ma,kc thc hst: use tl as a
eo spr-ingboard for changing policies,
Moskowitz said.
'"Compo,nics le<lm from this tist. Thc
peoc,Je ot QJonle hove ""id th>( when
thcy statted thcir company thev wantcd
o> to make it a great piace. And"', he said,
"'it you look at, fw cx-ampie, thc benclits
and programs at th e acxounbng
companies, you11 see they're very
s1m1lar. lf one's going to 9ive !i.IX week$
oo of rutlv p3iid palernlty lc&'Ve, r,f'Clty soon
vou11 see all of them ace do,ng that."
Th;:it's just wh;:it hos h,:ippcrtcd with the
�n1in!) fnnl'I òò l.hè lit.I, hc $1:lid.
Onc trend sccn at many of the
v> wortcer-friendly companies on the list:
ongoing cfforts to otfer Hexible work
sche dules, Moskow1t2 sa1d.
"'There are a lot more flex,ble WOf1<
amtngements 1hat are betng trled out m
100 m&ny COr'nf)3ntC5," he $&id. 1:IT'()le>yet$
m,ght opt to work s,:x hovrt: on two
dovs, or tokc ., f, idtfv off, he :said. "'l'h.ey
c:11!!!l(,mve lhe 1m.1!JHm1 lo lfy lo m(tkè il
casy fo, cmployc,cs to dcal with thcir
10> lives." (...J
4 Read the article a second time and make a 11st of all the benefits you have found.
5 Find upressions in the text me aning the fo llowing:
•
•
•
to reply t o a question with ;-es
tie form one'$ professional lite will talee
a pctson rcsponsiblc for young Cfll)loyccs who will listcn to thci' u>rob!cms
fin,\$ nol lnctuded in the ranking .......... ......_ ... ·-......... -.... . ... _.
the person to whom you are manied
to adapt lhe wock schadulè to an émpk:Jyeè's indNidual néed$
Discussion:
What matters in a job?
1 Of tht1 bcne flts you have 11.sted above, whlch of these ire standard benefits in a
eompany? WhJeh are unusual? WouJd you s.iy that these unusual benefits really
enhaniee an employee's working Ufe or are they just window dressing?
2
Which benefits wiU be impo,1ant for you when you look for your firstjob after
3
Why do you thlnk a eompany llke Goog/e ofhri sueh gener o u s beneflts?
Vocabularv
graduation? Make a list of mugt-hsves.
17
•
Work and p(l)ay
Ustening: Talking about professional life
1 You are golng to hear a radio program called Career Rap, which features young people
just starting: professional lite. Before you list:en, plea.se fill in the gaps with an
comp�ion • dismi�I •
txpenr;e aocount • probationi,iy petiod •
redlSldaoOf • remedaticn • retnment
appropriate form of the words on the left
His faiture 10 oome to work on time was the reason tor his
2 His plans for
. . ..-·· .. lnctude btr1ing a yacht and saiing around the wor1d.
3 I ha\'& an
of S20.000 a year and sp&nd most of it on entertaining clients.
4 lf the comparr,- ootsources its prodoction to Southeast Asia, there a.re sure to be a lot of
5 lf �ur emplC1fer is not satisfitd with yourwork during your ........_, .,__, .._ .._,., • you won't �
g_iven a permanent contract.
6 The workers who had been laid off were offered some finandal.
7 Modern fechnology ha.s p�ed solutions f0t the speedy
.. . of conu,minated
industnal sites.
2 Now match the followlng expresslons on the left wlth thelr defìnltlons on the rlght.
to troub6esho01:
a
to occ:ur une.xpectedly
2 to hrt the jactpot
b to pley various roles
3 to happcn out of the blue
e
4 to wear a lot or différent hats
d IO bé W'Y lu<ky
to provide ex.pcrt help in a Ct'isis
3 The follow·ing interview with a young woman named Joanna Harl'is took piace on the
radio brokfest show Career R#p. Utten to lt end decide whether the statements below
are true o r fal1e.
-··--
L.
;._
18
.....
1
2
3
4
5
Jo.a.nna be-gan worting for thé prestiglous COM$uh.ancy lmmedìately after lea.-ing u.n�rsity.
Joanna's job at tht big consultane; was a very stressful one.
Her fir$t etnf)loyer cidn't odfer arrt perts.
Joanna was laid off because the companywas dissatisfied with her work.
Joanna is paid by the erwir()nmental consuttançy as well H try her first employer.
6 In generai, she is satisfied with the working conditions at the new company.
7 She is thinking of setting up her own busine$$.
,------�,·
4 Llsten to the a.econd patt of tht lntervlew a;g:afn and answer the followlng
questiono.
I Whet are }oanna's responsibili ties at the environmental consultançy?
2 What kind of work is done atti-e environmental ooosuttancy?
3 Joanna clélims thet ·the environmental consultancy busirtess is a growth market". Can
)'01.l think of any ,easons why this might be the case?
Role-play:
Skllls
How to make good
people stay
Cet into pairs and read your role cards.. Suggest ideas and try to
negotlate the best model to encourage good people to stay w1th your
company. Agre e on a package that would have the desired effect and
still be economic-ally feasible.
• StuoontAp,ge 124
I
'
Situation: A ferNyears a.go you and :,'<)Ur partner started AJIRoundats, a c0fl1)any
wttich manufactu,es sports goods for outdoor enthusiasts.
Al present AIIRounders is in a c.rìsis, due to its high staff tumover.
You want to be able to attract talenle-d sh1ff -,d you know that such pe,ople ere
diffiwlt to keep. lt is clear that there should be some changes made in the
e-ompany's HR pofieié'S, but you and �ur partner advoeate different approaehes.
Reed your role eard.s and suggest your ideas.. feel free to suggest other benefirs.
aswtll.
You are a passionate surler and molfntain climber who dropped out of colle-ge
to start the company.
You want to offer bright,, young graduates two months' paid ieove to wortc on
environment.a1 projeets or p.artieipate in expeditions in whieh the)' would t,y
oul the company produCt$. Yoo also want to subsidlze employees who are
working on a master's degree. You are oonvinced that these mea.sures wiJI
hove the deshed effecl wllhout Sl.lainlng the eompany's finances too much.
E:: &.,gg,,,;trg""" """"""""
•
•
•
•
•
•
vtfrj don't we ••?
Wooldn't it be botler if we ...?
WeU, I tflink we can both �� cn ••
I don't think I ean go along with that..
How mighl thisY,orH
Canwe !eovc it hert, then?
19
•
Workand p(l)ay
Business Skllls
Email
writirig: Set'ldil"lg the right message
1 Which of the following forms of communication do you prefer? When and why?
face..t�face conversatians I telephone conversations I postai correspondence I
emai!s I tex.t messages
2 What klnd of mlstake:s do you think bus�ness people often make when writlng
email&? Do they matter?
3 Re ad email A and discuss the function of the highlighted parts. TtMm have a look at
the other emails and highlight other functional phrases.
I rom:
To:
Rov Ellis, MertlltUS Pr04)éity DMIOl)llll!llt
Joanna Harrls, Envtron Consultants
Subject: (Olcml� f� site, Southfl<>ld
H�lo Joanna,
Vou11 bé glad to héar lhat l've On,lllty succeeded in gettiog
hold of the eflVironmental offiçer at Brunswick Council.
Hls narne ls cecJI summe, and he's agrood to arrar�e a
vls!t to the former chemicals factorv site, whlch as you
know, is going lo be the site of our housing p.rojed..
How abovt meeting in hls office on 25 Septeml>er at 9
o'cloc:k? Tilef1 we'II drive out lo Uu,� site, whete vre11 �tso
moot S<lmè r�prosontati�s from SouihRcld.
I 1è81iie lhis is shoft uOtice, but it's ve1y i1opo,tant thal
vour consultancv should be present. Plcase lct me know lf
this d.lte is convenient for you.
liii r-tasters, Eogio Jlé(J,ivelol)<>r� & Sons
To:
Joanna Harris, Environ Consultants
Subject.: Your tender for Swansca Harbor proJcct
ro,
we are looking forward to hcaf'lng from you.
Hope to hear from vou
AII tfie best
Poy
I rom:
O,,vld Dllllng
1 o;
Coviroo consultants
Sobject: Enqulrv
Deilr Sir or Madam,
I am a secood·year geology student at SoutMleld
Ulliversity. As part of ,ny course I am requil'éd to do a
two-month work placemcnt. Shx:c I am vcrv lntcrestccl
in envirronmental consultancy, l'm writing to f.!flquire
about ttie posslbllltv of dolna • plaoement wit:11 yoo. I
woukl be available full-time from mid-June. p;JMse flnd
all the relevant detalls in my attached 0/.
Thank you very much for yoor c:onsideratlon.
J am k>oldng forward to hear1ng from vou.
Yours �ithfu11y
DaVid BilUng
lii
Dear Ms Harris,.
Wilh reference to your toodE!f' fOf" the ,emedratlon p(Ojéc:t
of the fom,er Swansea Harhor Basin, we are very pleased
to inform you ttlat you and two other consultandes have
been short-llsted.
For this reason we woukl like lo invite yuu lo i!I
presentation in which vou will have the opportunity to
outfine a detailed (émediatiOtl strateqy
thé
redevelopment of the site In <1uestlon.
we would llke to suogest Monday, 21 september for the
meeting, whlch will take piace at our offlce.
Ple.:ise conlad us as soon as possible lo c:onfirrn lhis dale.
You,s sinc:erety
liii Master,;
from;
20
Fron,:
UUI Bowden, 1:nv1,oo Consu1tants
To:
Joanna Harrls, Envtron Consultants
Subjed: Portreath site
Joanna,
•
I'm just pn:,offè!'.Kfing Uu:� ret)Ol'l oo tJ)é Pòrtfeath site
whlch has to be handcd In by 21 Sep. - that's In a weckl
What J think is mi.ssing is a reference to reievant
European dlrectlves on brownflekl sltes.
Oh, by lhe way. how was your lrip to Paris?
LOts of sheoping and caung good food, I OOtl
\\'ell, J don't w;,mt to hear abovt lt.
AA'f\'il'ay, can vou do some rcsearch to flnd the ones
r-elevnnt to our CDse cmd send them to me ASAP? l'm
attaching the ,eport fot reference.
Thanks a lol.
hl'ownnrld ,Jt4!S I. an arca ol lanc,1
Oleers
tn a city tlut ""1lS u&Cd by fndusuy
!liii
or ror otr1ces 111 Ultl Pl5t 100 1h11
nMIY 111JY,· be clellred1 fur M\\'
bulJdtng da.,.clopcneru:
Business Skllls
_____,.
4 Whlct. ol the emalls ls:
�
an enq1Uiry I a request for action I an arrangement of an appointment I an attempt to inform
'Nriri11t.111111mli11Gl-'-lule
.ffii!oelli'I&
Skills
5 Essentiats of good email writing - discuss the following:
Whiet-- of the emails has a elear strueture? When is it important to have a elearty
struetiured email? What ls the relatlonshlp between eaeh wrlter and Joanna?
6 Flnd expresslons in the four emalls to complete the grid.
Formai style
Informai atyle
Open lng/Referenee.s
Request
Enquiry
Arran.gements
Attae!hments
\.Je """e hP.tty t-o te!\ yo�
Giving good news
\-Mli- ,...
Polite ending
I di'"' loc:\d,.., �.......,._...4 l'O
ke.t11.'f\l\, f.rOIO\ '11'" SOC:....
Closlng
Email writing: Getting the answer right
Read the replies Joanna wrote to the emails.. Which replies don' t correspond in
styfe t:o the emtil received? CM you thlnk of any reHons for the c:h:mge in styles?
And more expresslons to add to the grld.
from:
To:
Oear Bill,
Joanna Harr1s, Envfron Consultants
Bill Bowden, Eflviron Consulhmts
Thank you ve,y much for y0ur èl:tiail.
I don't want to sound unhcfpful but I atso havc a
deadli1le to meet, which ls act\Jallv on the same day as
vo11.1rs.
The webl)llye www.envitonmenL-ooencv.ygy.uk has
dlrcct links to thc Europcan dlrcctivos.
I hòl)é that lhis ir)fòuoatiofl will p1òvè use(ul.
Joanna
ffom:
To:
Joanna Harrls, Envlron Coosultants
Roy Ellis, Mercatus Property Oevelopment
Hello R<,y,
l'm glad that Wé wefe finally ablè lo gel ao
appolntrncnt.
111 be there at 9 o'clock.
Looklng forward to seelno vou
Joanna
2t
•
Wori< and p(l)ay
Business Skills
trom:
To:
From:
10:
Envlron Consultants
Oavid Billing
Dear Oavld,
Thank you very much for your npplication.
\Wl are happy to teU you that we found your ,eseafCh
experlence qutte Impressive and would like to lnvlte
you to an lntCf'Vicw dul1ng thc ftrst week of A,prlL
Please r-.t1U our �ecretary Fr1ca Jan-sen to arrangP. ;i
date.
Besi: regards
Jc.anna Marris
Joanna Harris, Environ Con.su1lanls
JIII Mastcrs, fngin A.cdcvclopcrs & Sons
Deilr Ms Masters,
Wc wcrc dellghtcd to learn thatr wc havc bccn shortllstcd
for the Swanse.-, Harbor project.
Mooday, 21 Se,ptetnbet" fit.s perfectly into our schedule.
Please let me know how much time wm be ava11able for
our prcscntatlon.
We would also appreciate l t lf you oould send us an
agenda and ir�sttuctions for ,eaching you.- olfiCé.
Wc are lookfng forward to thc meeting.
Yours sincer-ely
Joanna Han1s
Writing: Findi ng the right style
Choose one of the foUowlng writing tuks :md afte,wards swa p your email wlth
Skills
somebody who dld the other task. Olseuu whether the tone, style and contentare
appropriate.
1 Joanna has glven you the job of answerlng the followlng emall. Take everything you
know ebout the consultancy into consideration.
Fmm:
To:
Oavld Billingl
Joanna Harr1s, Envlron Consultants
Subjcct: tnternship in london In June
Dear Joanna,
Thank vou for tfie positive reply reoardlno an lntemshlp at vour consultancv.
I am ve.ry much tooldn,g forward to WOf'klng wtth you.
Cookl vou please let me know when the lntemshlp WQC.J1d begln so that T c::an
st&:t lookil\9 fOI' suita�e accommodaUOn in L.ondon? Would you also, by any
d,;:ince, have information on where I oould find assistance in thls reg;:ird?
I look forward to healfng from you.
Yours Sinèefely
Davld Bllllng
2 lmagine you are MR Mar.ager :,t GO()glt. You h#Ve Just received the following em:,il
from a P'"*pectlve lntern. Wrlte an a ppropriate answer.
Chòstopher Franklin
Fro,n:
To:
John SWlft, HR Manager
Suhjcct: Tnternship sales department
oear John,
Thank you for vour email. I am delighted al this opportunity of doing an
Jntemship with you. Mowever, l'm afrakl J won't be able to wOO: for the entlre
slx months as proposed by you slnce my semester beglns on 15 February.
Would il be J)OSSible lo <:ul shorl rrry intemship by une monU1? I wiis also
wondering if vou offer ;any intemship compensation for my OOsiç expenses.
l'in lookh-.g forv,ard to your a.nswef.
22
Yours slnccrcly
Christopher
Arncrican Comp(J(8fS Corp. hsd operated a suooessrul
pay-by«performanee scheme in its domestic plants tor
the previous two yHI'$.
The production fac"ty was proud of its setf­
managed reams, who were reffl1.Klerated acc0<dtlg to
a teal?H}ased pay scheme with three level5 of
oompensation. The majority of teams usually hit level
2 or 3, which was quitc out.standing. Although over
the petiod of its use th& pay s.::heme had required a
kit of readJUstrrEnt, overaU output ooupled with
qua!ily had incf'éased.
Headquarters therefore decided to introduce this
sy,tem in the company'$ plant in South Korea, which
was run bf an American management team. So far the
teaim irt ptoduction had teceived a rixed amount of
pay, whieh was vcry low by Ameriean s.tandards. The
c.ompany hop&d lML the new :system wou!d motivate
the wort.ers to work fa.ster and harder, thus increasmg
the plant's productivity.
The new P'1i 5'/Stem was explained to a!I the
workers in detail and no oompl$ints Of ooncems v.-ere
voiced. Shortly after the introduction, prcblems
began. lhe OOse pay hadn't chaJlg&d but none of the
teams reached le\!el 2 or 3. A eouple of months later,
most of the teamsweren't e\len meeting lewl 1
anymore.
Talks with the foremen didn·t really protide arry
in3ights, so managemem decided to watoh the reami
during thoir wort. This rcve31&d a vcry inwroating
phenornenon: the former� high-performancé teams
had adjustod tOOirwo(k pace to thc te-.ams with the
kTNes.t performance. As a result. management started
to monitor the workers whom 1hey expectedwould not
be &bte to meet a faster p� of production, signaling
lO thc staff that thosc whosc pcrlormancc didn't
tmprove would be dismissed. This resulted in &n
u-proar: workcrs th,catcned to hand in thcir noticc.
The Amerlcaò managemenl was ffabbergasted. They
raturned to the � pay scheme as quid:t,, as poss1ble
because produçtion threatene:d to oome to a hah.
Nevertheless the work atmosphere had detenorated
sharply tndwithin the next six: months hcitf the
wori<force lcft thc com�.
•
,
23
•
•
•
Skills: Softening feedback
Reading: The blue-eyed salaryman
In the book The 8/uo-Eyed Salaryman, Nlall Murtagh wrltes
about hls experlences In a Japanese eompany. Read the
following extrac\ whlch describes the authors first day
at work,
1
1
10
Joanna is. supervising Oavid, the new intern in the
con$ultancy. She has noticed that he tends to !be a bit
dlreet when wrltlng emells. BelOYI aire ,ome �ntenc.es thet
"
You don't h.ave the qu.alifications to work in ouc consultancy.
,.:i
l'm too oosy to hclpyou with your projcct.
-----··-··-···-··-········-······-··----3
t.i
KtwoO·san es sn <tiarse oOStUng ovt new recruus. She .say$ il u a
aafety t:ap becaus,e you. ne·.-e, krt<M· be,,,.· orwhen:� y:iu 111ight bwnp
yoor Mad. lben .s:blJ adds that U you't8 not wo,king in tbe fat:tories
l tell ber l don't think ru wear lt too often. rube care.fui DCt t o bump
nY'f head.
But )W mUSl we..r the ID badge ot aD times. An-cl ol ooUme 5hiou}e!
4 Ms Clark wanls lo meet y ou next Friday at 12 o'dock in
her office.
) 'Ot.l walk ,round whh YoUl' hand$ In YoUt pockeu.
,.
\1/bat's wroog with "''al.king around with my baods in my pockcts?
Tbere must be a reason. but l'd bener goeasy oo thequestions
rorSbebrlngs me to 1he photo saudio. lb:1 pbotographer gwes me ;1
bl,<ink numbet 1>l111te and helpit me piek our the dlglt!t of �· p,,r!WltU1I
mm·number. even tor tbe women. Ht 1rrans;es O'I)' uu:i.n-nu.mberoo
tbe pla'8 and tells me to hold it up in front o( my c:hest.
6 Yippee, the new project h<1s reat,, taken otf.
1 Does c:he time suityou?
oidc, Nc,t to thc gods littlc home ;, my bulldio�, • new<Mio: blook.
lbc receptionist tdls metogoto Persoooel, whare they glve mo
booklets about I.be oompany blsi:ory, rules. benefits and employee
obbgatioos. 1'h8y giw me a compaoy jack.et and a cloth cap with the
thre&-di.vnond logo. Wbat's tbe. cap for?
)'OU don't bUYtJto wea.riL
Did yo.u òOtke that the figures in you, ,epo,t arE! all wtong?
5 We decided to ca11 off the meeting.
The securlcy guar-d shoutS good rnornrng at each face because lc's
officiai <Xlflli)lfl)· éliqllt!lte to greet yooroolli:a.o-u.e11 end1v$J.t!Stic;ally W
the morning. alt lwugh man)' people don·t s.,y u11ything. they're nca:
in tht mood ami IJ,�wllQdO fflilrtty i.rwnbl(: L�w;e it'i; lutrd to
be enthusiastic early in tbs moming after oommuting from ths outer
s ubuJbs of lokyo ,or Yokohama with n,,"'�·e bows of work ahead.
The ffi\\ t� ni!arlhi! f'..nlNlllM g,fW! wr, 1<1 oorrog.aled-stt!t'!l-w;:JUed
factory bulld:lngs ,on ooe s!de of 1he comp:uiy rood. On the oche r
1hen'!'$ 11 s,nfìll Shtn1C1 shrint! m l:eep Ihe. tn1mufac:1111ing g_,)(1$ o;n 11ur
Joanna would llke lo see softened. Express the,m uslng a
more dipfomatic and formai style.
2
A seo.uity gu.a.n.l IOOk$on. dre.� in u ,v,ry blue vni�rm , the rèd
three-diamond Mitsubisb.i logo oo bis pcakcd cap. He stands wàb h.is
1'g, apan. hl< hwk bohind hi, bad< hllé.,, •rn,y <lifittr, l.okir,g at
cadl faoo passing through tbo gatc. Army Yibes atrcady. lf thls
oonti.nues. l'U soo:n be a desettet. Oeseners .,..,:in·t be shot.
.,,
Up a ltttle hlgher please, Ofhet.,.1se yoor man-number wo1ù show.
Look smdgbt a.head. Try n01 w look so serious. lfs noc a prl.son,
)'00 �·-
llc U1it<:l my mug shlX wlth the m,..nu.mber br llle oompo.nr mes
aod I go badc to Jl'enoooel with Kawa.iiosaa
24
8 a plac:ewhe-re you çan do a master's degree or a Pt()
40 Pie.so introduçe Yo1,1.r.9Clt wilh a Uttle SJ)Ceeh, sbe 5.IY'$, Ali tbe oew
em.pk,yees do it.
·····-········-··-·-··-······ ···---·····-···· ·····-······ ·········-·· -·····-· .
9 materiai, substance (also: a set of unspecified objects)
The busy PE!rsonnel people look up from thelr desks and srop
worldn,g.i moment or two. I stand up maight, lookat the deski n
$0
:,
front of me bacau.se noeye cont&ct ls necessary )-et. and sey
$0mething- my n&tne, wher� rm from, whtit else! An apotogy.
Af)tllogiei; ltl•·.a)'5 � down wt=O, lt doesn't rnl1lter what tbe lll>'Jk:lsr i.s
about, an)'thing will 00. Please iorg.ive my poor Japanese. PleaS$
oon� my misUtkc,i;. An 1po�y bn,ali,s lhe i()t. lle c:an't be thill OOd
ifhe sta.rts otrwitb an apology. AJmost likeone orus. My specdi
oontinues- what I did befom arrivlng in t�..e com!Xlny, how l srudled
hard ln graduate school anrl got my degree ll'ke any new recrutt. I
don't mtnlion my èm:ler 1$1111 tcciden111J saiki-r and ir.lerOOOtJnental
hitchhikcr. driJting whitho,-er way tbg wind wa.s blCNVing o.nd mdiog
u1> be.ili because the wind ha ppeaed to bé bkiwiu.s ed,
3
Answer the followin.g questions in writing.
In what wa)'S is tho compan)' doscribod in thc cxtract difforcnt
from a company in your country?
2 What do you find out abollt the narratofl
3 What do you find out about the company's el'nptoyees?
4
Below you find some statements about work cutture in
Japan. Write the lines in the textwhich provide an
illustration of each.
ro J continue my little speec.b by telliog rttf oow collaagues wbat tbey
want to hear, how pie3SIE!d I am to be Jolnlng die company and how I
look forwant ro �lng ti> know ew.ctyonf!, and hff\·ea IOI rol.!arn,
please teacb me about company ltf&. tha(sall for 00....', thank you
�e-ry moch. I Oni�h wllh" oo-d Ihai wlll h(;\� IO do fora lÌOl'I,
Dire-et susu1W'led 8'f& oomact is avolde-d !n 0tder to show
respect.
2 New emplo;ees are not expected to promote their
accomplishments ancl abllihes, in order to avoid
uncomfortable situarions wrth colleagues who might be less
«> cvçryoni: z,;twm t9 W91'k nnd l'm part 9f tk 9ff,llllizlliQll al�y.
Tbe rf!!j,t stuff.
\\�Il quiiti�d..
3 lt is essential to dcmonstrato good mannors. ............._
4 Achleving harmon)' ls more imp«taot than aehievlng good
sales and prorits. ..
. -.........
S The Japanese a.re family - and g,oup-oriented ... ... .......
6 Protocol, rank and status are of great tmportance.
7 The Japanese are high� organized.
2
Find the words in the text with a similar meaning to the
followlng::
the per$0n who pr1XeCt$ che oompany from theft
Web research: Benefits
Choose two fnternationally known companies ... e.g.
2 to travel daily be..ween your home and your piace of wort
.. · · ···· · ·· ······· ··-···-···-·· ····· ···-··---
Sl.arbucks1 Nest/é1 Proctor and G.amble, Citibank, Caterpillar
- and using the internet, research the benefits these
companies offerto attract employees.
3 a residential arei! siw11ted ootside a city
Company
Poaitlon
Pay packag•
4 a personwho has just been hired by a company
S a litt le pin a person w ears to show who s/he is
----· ·· ······· ··-·· · ·····-···-------
6 the department concemed with hiring (and firing) employees
7 a statement in which you teli someone you are sony tor
something
25
Custo'mer service
Warm-up
Lenrning FOCUG
• ldenlifying tea!ons for poor
Have a look at the definition of customer service and discuss the questions below.
C1,1$'1()me1 $!!1'1flte
• letephOflfnir, el'fl)loylng, the
princl:ple3 4f g()(')(f Mlome.1
SCf'-1CC (82C)
• Evallatflg ti?lephone
peffO(mSf'lce
Self Stucty
• rrç<!vç.:,tly �d no'>n-J In
cus,omer servioo
• Telephone phra.ses: 63/iog the
right thrig
• Us.1lg modals to ftfm poli::e
ql.l!sricns
Have you or someone you know everworti:ed in a cal centef?
What are some potential prob!ems e cell center agent njght have to deal with?
• What problems migflt a customer faoe?
Thlnk of a reçent exper'ence you hove had wlth customel' &el'Vlce. Was lt good or bad7
Tell a partntl' about lt.
Reading:
1
refund • voucfler • owreharge .sb •
be Mlit�d 10 • ,e,placemern •
recoup $th • wo,renty
26
Customers' complaints
Repla� the undel'lined words with an appl'opl'iate word form from the box.
, lhe co�any ma:d!l the customer pay®re th8o the real vahm of rhe nroduct
2 According to the sales conttact the custOl'l'lél' had tbc dgbr to taJ:e advantage of .special otr&rs.
3 Atlhough il was thecostorrer's fault that the product stopped working. he was able to W the
money�.
4 lhe usual eu.atanree tor 3 product i:S six month:S,
5 lhere are three differem Wi1'fS a company cen QOmpensate a customer fora mistake: otter a
®ce of naoerwhichoobe exchanzed tor another producr prO'lide the customer ...,ith �
prnduct of tbo sacoo kio;:J ol' givo the cu.st0t00t tbo moocytwtio Ml
--•
2 Read the followlng consumer blog-, taken friom a consumer group's Wf:bslte, What do
you thl nk cause d the fallure In customerservlce In each case? Try to create categorJes
for the different types of mistakes.
ot
l@OQ
---
Donald's Complaint Blog
Cell phone bill
�;,o�Dontld
A wh
.. l>atk t fWnd.,..., ctllphontl)IOYldtrwitn wheit � lll<t
• good p•e�. Then I Q01 mytht mcnttl ,.bill, 1hty 11-6
own:ha,god meby$300! I hlld $9'*1 a cOl'ltl"M:t fl'ltitting m• IJOth.t
"-\'""'
to•oalled fml>' pi.,wllh ot*nhed le.xl bui NCOl'J1lGTY Wlll
..,.!IJ<,l
$ dlaging me fOf eaGh 1.txt �! I h1d to dild the n..ni'J• or the
OJ,tomer Sa-vico dcp.,rtmmt�h � � boforc I could cvm
gol fw,,oug,.1 once-il..:! for&Omin.ites to sp-.:ik IJOo re�tw.
....tlo lh� diaooMecled me . I had 10tef)e8t ff't/alO!)' at i.e.et 20 trnea
beroni lçOIJd _,. ,.,d aomeibody M,tl _, ,�. llwy r,na1y e-­
10 fìxed 1M tl'tOf w , cotokl onty � 5200.
""-""­
,._,..,
"""""
"'"'"""
,.,_""'
_,,,..,
-
,_
or�
w...1....
CPII ohnn,. ,.vnlnci.ion
Pepito•s P•tio - poor dinil'IJ expe,,ienN
r-11-,. ,...,,_h i 11,,1
i
�.ty famiy
l and I had been eatlnll at the �prto'$ Patio �ha n lor
)'ears becalJw we reaUy IOY8 Tex-Mex food. Then fast month we
""81'8 'Mitirig 11'1)' mother � Peoria and I wanted lo tre� the whole
f-amlly to dinner. OK, ttle ,�taurant was busy , but we had b) wart.
11 .an tmbre nou, lo piace ou, <Ilde,. When the laod l'l'IAlly carne, my
steak was burnt and trr, wite tou,� a hall' In her endlilada. Of
c:ourw •-e sent tvt�hinet,,ek aM hed to ....-1 half on hou1
the t,esh Olde1. I t0mj)l9ined to ttie manager, 'NhO apo!Ogl?td
l!nd � \1$ a rel\l nd, bvt wc werc $1.ill pretty Up$(ll, Arry,-..r,, wc
10 decided ta give Peprto's a second chance a'*'� l�t« in aoothet
town. This tirnt the food was so spicy t.hat no or,e oould eat it.
We sent the food b ack ancl tllen they told us that 11,1e, just weren't
fam11ia, with l.k(ican seMMing, wlic:h isn't tru.. lhis time thly
g;iw us nouctler tor a meal at another Pepito's. Paoo, but I can
111 pron'lise )'Clu 111'1! won'I be U!ling il.
'°'
3
Choose one or1he eonsumerblogs and ,nswer1he
followlng questiona::
I Ho,,-1 shouk:f the company h&ve acred in that particular ca.set
2 Ho,,-, coukl custO(l')8f sorvice be itnpr()l$d7
3 Are there anywi'f}'S in whfch the oonsumer cou!d haw
influenced the quality of customer service?
4
i..yee, ffl'f .on Mdl WW'lled to ,urpriteffl>J hl.lebendwiih a fl(IW TV lo, hl•
birttld.,, W. picktCI On& QUI al 8ectroMII\, Wflleh W9 lried OU1 In 1tlt •ION
ard ,oiwoc:1 10 WCNt tino.Al homo my hulblnd unpac:lcod il, kllnod il on and
11 11-'Md ilMff off aga�. W. lrilld m 1<wtdl iton again hut tM _,.,. rhirlg
$ � lir.:,i, a:id :l8W'- f'-i� - look il back to lho � Wo-,o IIC!l't
!io lho � Sormi. de,pllltment, wher. -had lo w•il 1111n nin.rlff to
be �- The 'Usoeiale· W,1$ talt.in.g to h·• gi-llhend on VI&phon&. Y.1181
he finafJ � 10 --.he wu pcetly 1� He seidit 11� ape,1 aud 91.-"'
•• -'P w1't N MIÌ'n$ted � clltfi, llwMWffkl 'aie,, W. I
IO Cllltcl lh8 tt<non 111111 <lne I QOt nore.ponae, to I wen1 baok lhete n
pereon, Il!N,I� 10\lnd a tE1) .,.,t-,a •&Id lhe 1V ha<! IO be •81'11 bll(fi( 10 lh&
._ulACilur• #Id I w.a• wppoMdtoOMlll holo:a.in-two -b.. Wfill, 11nottw
tNO wMkf •�• 1.,,...n1 bttk IO lho tt«• and finan, found •� helpful,
Sflo Nid lho TVhad� uncfer wwranlJ andtheulch'I MfO bc«i A!tl.roed
K to lha m:nuf.x..t11to1 in lha fntpbcc. V/e d,oJd h.i.YO boo"l 9-.en a tcfuncl or
a ,�<fflt«'II butl'IO'N i, w.as 100 late. I aned IO eH lhe fl'!tnag�. Yllo told
M lo CMl,CI lhf: Eleci,oMaltO.,t1otne11 St:nbCeo,.,, \'AWL I li'lat, got.
r-i;W VdW(lftt 10 tcOlft'lè,I 1or, Wul ,11&M� 'M AM nèliél' IJOI\O 10 �
.. ElectrcM&Jt tqWl.
,. t
8u5in.., Blog
Goad 0/111111
T_,
the Cusromer
•�• • edltlrli! • telittrei • guide, • a1Clln
B� delay - IWorld Ai,
bf&,.., J,wnt.
A mootli -lt(I I ...«I � •11nmer -1o11 to t1L1'11d 111y (l()IM's weddlnt: 111,
Wu.-. "IMWOIWAb a.,,. hom Sunlt IO�\ork. -1.Uinso/fS h ouu
bit fo,_,ch.u -.:� lit\"' cwdc du,r IO UJ f\1�1' , A, l �. I l'.lll,ud
"*1 '1""11f"io.m a No-'tiri.lo ...,d "P"'I 11) �n fo 1.. 11,it :Il JfK. fi,.,lt:, 1i.
$ aidi11C' p.11 m, ou ltitt,1 to Lomkm '41kb çonlllK'Uld 10'<'maw. I w'iw.t a
d.i.y me, dlt IWddlftC md .,ithout MV�. "'\im !ud 11« beffi to11Rd
�WWI)• ùi.'*:,: lt.o(urniui,: h)SC:ud., fo.-:i '4'an:ow, 111., P"°" "' Wit,! f,;c,:"'� .yin,.
forno� t\'IU0II.. I awtd lll'.f<� and dac atdlllt tffll mc todi(
Hl!to:lfl, bui,, lhf h!)ld dlt) ' w.l iberdidil\ hne11111ett,1,- -.1ch Yortd
10 AiL I lud watpl:! �, hall a.b,:,w110 thc �wilban aidlM�i�
..\o-ud ffl(' IO'"'Uf'.11 IO iht .ilrporc, ( tt!u,ed IO -md 6,w,llylt')tl
.-, I 11:1• hMCk lf> �1tls.,,,. di!)" b,1s fur .,.,,11, My b,,a Wlll f.,nc._..._
I lri•'f wm\cn aa4 sifK,llfd 1b,; 11lrli1111 -1,(J ..,f �•t•..... full a �
bm ti.t< .-i!lin.,J c1,,_ di,::,, dm.:i�-(i.'" ,t.r --1,�J ""'"-' -('rdoti,
15 <OOUùl. Aath6d_r wìthui,1)1,,1 lè.O:.,.,e:-.?
.........
"''"""
"""'
Ardliws.
.'\lffl'ft»1nc
Bw;i11C"1t
Coltll9!nG
Joo,""IU,m
u..i......ir;
C.we,»iras
CoAA1111«AIMoe
Mi1ò,R..,_11
.......
....,,
s---a-,i
i�!O-.p11
Think of a typical, bad experience with customer service you have had and write a blog
that could be posted on a eonsumer website.
27
CLetomer sel"VICe
Ustening: LEARNing to listen
�ù
1 The principles of good customer service can be practiced on the t.elephone1 e.g.. by
following the so-called LEARN concept- listen, empathiie, apolog �e, reaet and notify.
Listen to the following telephone conversation between Fnink Meier and the Customer
Service department of Stre-et Wi$e, an Ame,ic-•n company. Ooes the agent observe the
LEARN concept?
Il',)
2
Now llsten agaln and fill In the grid wlth the telephone phr3ses the customer urvlee
agent and the cu1tomer us-,e. Some have already been given.
FuncUon
Statting
Agent
Cust"omer
a oon-.iersation
Stating th& purpose of che cali
Chec-ting informalion
l.s 1-l-..e ...?
Apotogizing
Showing empothy
Conflrming info,m3tion
Spelling words
Saying th&t you didn't undersund
Skills
Assuf'ing
Ending II oonver$3tion
3
Fron1:
To:
Read the following email and role-play a telephone conversation accordi ng to the
lnstructlons on your role eard. Make sure you follow the LEARN eoncept.
Ofde:s@sl..reetwise.oo,n
Frank. M<:lcr
Suhjcct: Credit c...1rd verilk..1tion
oear F,ank,
We are very hilppy to tell vou ttiat the veritlcation of your Visa rard went through without any problem.
Please use our tele:phooe (l(det1ng servite at 0800-9S9-8?94 from 8 a.in. to 8 p.rn. Monday th<ou,gh
Frld,,y EST to piace Y<>Ur o.-de,.
Stnc.erely,
StrootWise.com
Please do not respond to thl.s emall.
I
• SludfJnt 8f)lge 133
You a.re a Customer Serviçe agent for Street Wi#. lhis is )'OW' fir$t day atw0<"- *Oyou èlre espec:iatly careful
i
ebout check ng aod double-checking the customer details.
F>roduct prioes:
I stlJ b6'iev6 in Santa Clavs. $17.99. numbet 118669361 (in stock)
Gtlétl sttlpe tH S16.99 rédueéd from $ 19.99. numb•r 121213134 (in stock}
College Hero $19. 99, number 128037307 fin stock)
MrMessy $17.99. number 113577610 (cunently oui of $tock)
Shipment <.:onditions: &,, standard courier sef'Viçe,. 3-4 days
i
Q\�rn ght delWery - extra <:harge $25
28
4
Would you s.ay that the LElf.RN concept coutd be useful for call c:enter workers?
•
Business SklUs
Telephoning:
Evaluating telephone
performance
1 You are attending a training seminar on customer seivice for young manager& and
have been given the followil'lg questionnaire, which is to serve as en aid in
evJluating telephone calls.
The seminar leader has asked you to 11.s:ten to three recorded t.lephone
i
conversatlons and evaluate each one, us ng the questions below.
Fill in the qu11tionm1iro below u,ing the following rating 1y1te m;
lf the question doesn't apply to this situation, write N.A.. (not applicable) .
5 • excellcnt
4 • good
3 • satisfactory
i•bod
9 queslions ror evaluating
customer service on the pbone!
I • terrible
W-1s the CUSl(lmcr poi U1roug.b 1>ron,ptly
to lhf" ri�l person?
Ooe, the. reprt$entati\'r gh·e tbc ClL.c;Lomer
lle>r/his uudl,1ded illltnùon?
Ooes tbe> person sound iill,N!Sled and
oon<.-en1cd?
\\ns thf' rc1,reaentad,•e able 10 idenlìff
the problem c1uit1..ly?
Oid 3'11� ap�nr knowlcclgeable?
,.'
Dicl lhc 1,,eraon awid lec.bu.icsl jargon and
u� tan�uagc U1c cuSlomer 1..·cH1ld undf"r'lltand?
lrthe employee was um1blc lo llll$Wf"r tbe
cu.stower·s requcat. dld J.lhe offer option&
ar altemath-e.<i?
it· ,m error bai.1 l-wHI made. dld the ttuployee
npoklgl-ie?
\\a3 lbe reprtstn13th·e•;s te1ephone bf:h.n,1or
oouMf"ous ami proff".ssiontil?
2 As p,rt of your training s;emlnar you have been i,sked to cre.:ite a set of
g:uideliMs that eould be used to train new agents. Consider some of the good
practlce from che prevlous exereise.
29
CllS-tomer ser\llce
Business Skllls
Raie-play: Complaining and apologizing
Rol&-,p lay a teltphone conversation between a frustreted customer of a health club and a Customer Servlce
agent. The agent shouJd try to observe the LEARN concept and both putJes should come to an agreement In
the end,
• Swdent 8paDJ 140
Customer
You ere a member of Hercvles Gym& He11flh Club. Yov signed a yeals oontraet tormembership at Hucu(es andwere told
by an employe,e rtat )'OU col)!d canee I a t anytime. You have OOiN moved to a town ten miles av,.•wy and halen·t boen tome
gym In six roonlht You caneele:d tha oonttacr b,j email and thought you h a d stopped paying ree,s, but Hércules is stili
charging your credit card for use ol the &)'m. You havejust recei\-e-d a letter fromHerctJes' tawyer 5a>ing you r:me them
S300 and threjtening you with Jegal aclion.
Diversity
Consumers' refusal
The following table is #rom a study on customer sotisfaction which shows the
pereentoge of people who ehanged .servi ce provlden. What does the table teli
you about customerexpectatlons in various countries?
Compare different countries. Wtlf do consumers in some countries switch
their providers m0<eeasity th an oth-ers?
In the pastyeai; wflichof the followlng types of service provlders, lf any, ha\le you
swltcfltd .WWf from b,e,uM of poor customer Mrvfet?
Gtobll GIObel Indio Cln1d•
U,S.
ChiN Au11nn•
8nb
lnt•mtt ..rv� p,wlde,n
Aeuli.,-
su;
39%
2007
SOS
37%
56S
591
371'
51 $
30
23S
271
38"
451'
331
26S
331
59%
43%
46S
54\l
28S
44%
391'
31%
42%
191
311'
211'
48"
Hom• teMphon•
371'
29%
291
Cabi./Safllllil• tebvi1ion
28%
26i
31 I
441
421
Utilit;y oompaniu
27%
23S
291
351
33%
11"
151
Mot.te
24%
22%
20%
21 %
27S
Ah11,_,
33%
25%
25%
241'
18"
27%
311'
261
33%
Uf• lneunU'IClt ptWl�rt
151'
121'
36S
21s
ISS
141'
13%
C.JI phone
30
2008
40"
23S
36S
171
28S
,,.......
""-
Otffllll'!Y
Brt.zll
48%
.. %
50"
28"
37"
32\l
26%
31 %
31"
311
32S
20S
22"
331
11 l
15l
15"
241
281'
291'
251'
241
24%
20S
3411;
221'
221'
201'
1a
11 "
10%
13%
28�
14%
12%
12%
461'
""
391'
191
Company Case
Jonas Lehmann, the son cf a European business family
wflich OPf'rates the depattment store chain LMm8/l.n,
,e1utned home two months llgo afléf dofni a \tasté1
of Business Administration (MBA) in the U.S. Jonas'
father, whose Ql.vn father had st.atted the chah of 30
sto,es after !/-M'll, was eager to see his son ta<e his
piace in the family bu$lnes$. After yearJ in a fo«:ign
c.u!ture and a first-class business educ.ation. Jonn
was prepared to see tht family busln•sswfth ,ew
eyes. He decided to spend the first month visìting
,tores ln various towns to obseM staff and ,o w&nt
on a tour of all the lehmànn branches. What he saw
on site wu S-Obering. Sales sUtff often ign()(ed
i
customers, continu ng conversations with each other
or on thek celi phooos. lhey oftén responded to
customers' qucstiet1s grudgingly orwith indiff!rence.
He wH ammd to witnes.:s inston<:es of outriflt
rudenes� as in a toy department, when a clerk
sçofded a chiId for touching � dolrs house. ln the
<lepartme nt ror wacch repalf, ctmomers pt<;.l::lng up
theirwat(:hes were greeted Y«th ·eain I see yCtJr
ticket?" Proce-dures f01 rctwning goods required
ml.Ili pie ,lgnatures,which sent ou,tomers chasiog
from one part of lhe store to another. In many
departments of many stores, he carne WNWf wìth the
impression that the customerwas cons.idered a
nuisance and that staff simply stood a round waiting
tor quitting time. What a contrast. he thought, 10 the
cus,omer.friendly busine ss ptactioes of tho U.S. loie
retumed to Lhe company headquarters deterrnined to
tum a,ound tM custome-r t&rvico offtred by t-.&
chain's 1,500 emplOfeeS.
31
Reld research:
Reading:
Customer satisfaction
keystrokes
Wr'lte down ten quettlons that eould be ask� to ffnd out
how satlsfied cu.stome,.. are wtth the servlee they reoeive.
Then conduct your suivey, either In your class or In a public
Read the following article and answer the question.s on
page 33.
piace - for ex.ampie, outside the unlverslty eafeterla - and
1
IULLSllORO. O,t. - /.kg;,, Fw1k li,J beòn <>0 ti,• pl;oi\é klf 30
tninUle:s 110d Md alre11dy u.ntanglw tme billini kno(, lisieoed to 1
woman lnslst that she had rerurned a Pilates DVD wben lt was claar
she had lost it and receii.'8d one request to repla08a cracked cop,- of
H«el /munda.
10
Ms Funk lS ooe of200 customi!r servioe repn3sentatlves at tbe
Netftix c.aU center bere, 20 m1les �-est of Ponbnd. where she ls on
(I)(: rn.ml lil�.,f Llie uoliue nwvit nmlt1I w0111.1.11y'1$ t-ffo11f tu U$C
<.'\Utorner ,ir,rvice ,1:s 11.Sln.t(e&it wearnm usait1$t BIQl.:kb1.Lt1te1)s !SirnilM
CNO.maili.ngservtca
write a brief summary of the results.
Email praclice:
Complaining and
apologizìng politely
1
Read your role card below and wrlte an emaU to a nother
. ercise will work for the
atudent who for the sake of this ex
airline's Customer Service depa11ment
i,
ro
Three weeks ago you booked a nlght online to london wìth
a cheap airline called &s}'Flight.
Secause the email çonfirmation dkln't arrive and there was
no cccord of your booking on lhl "My Easyflight' pagc.
2!i
you booked the flight onl ine <1gein.
This timo an wcnt smoothly bot whon your bank statc@nt
auived. you � that Easyfllght had debiood your bank
account tWICe for the same amount.
Write an email to the airline'$ customer service demanding
�
that th ey correct the nustake .
2
Read your role card below and wrlte an emali respondlng to
student B.
I
,s
• Stwfent8pag;e33
32
You work at cunomer support in SCIJttFvtniture·s he&d
otf.ce in Norway.
Victory for voices over
4)
Write an app-topriate respoose to the em3il you will ,eceive
from studem B.
-"
Netflh t,tt up .11hup liere a year aip:,, sbu.nni-'li otlier lov,"tr-G'\'a places
in t.he Uniteci States and overseas, becau.se it thougbt 1hat
Oregonlans would present a friendliervoice to lts customers.. Tben in
Juty, Ne1ntt look �111.rnus1111I �I' for� w-e�l-..�d çum1>,.lt)': i4
eli111iouted. einuil-h.)sed t::1Jstoo1-er :seivitc io(Jl.liries N<.1w afl
qU6stions, oomplaJnts and suggesdons goto the HJUsboro cali ce.r.ter,
wbicb is open 24 bours a day. Tbe comp,sll)''s toll-freoe number,
pnt\iously buriad on the ....-ebsite, ls oo,,r promlnently d1Splayed.
.Netfllx 1s buOOng several ttends In customer servioe. Booz: Alten
Hamilton, a management consultl.ng fiffll, and Dub UnMntty
Slvdted 600 com1xmies lasl )'l"...ar and round , c:ootinued inerease 1-.ot
ju5t ln 01.1tswu::Cng, b1.1l al:,o oJrshorloR. In whidl e.ili centeN ore
mf1o'edOYeraeas.
·J dun'c lhink 1�re·s uoy 11-e1Mt to 1roll b;.1.dì-;" Stoo M11u Mun.i, u
ieo!or as.socLlte at Booz Allen. ·This is a unique strategy for Nedlix.
lbe.�'s so mocb roore compHidon, this 1 s something cbey've done to
gce closer to Lhe <:ù�omer, beeo,1.1sie wld,ool thu, lhert-'$ reO:lty no
wnned.ioo a cu5'0fne.r ha• to Netmx."'
Nelflix's deci$ion lo Sl'èd smti<H>S cx.ins-.uner!t wi(h 3 hurn3n ,•Oire.
n« an t 1oall. i$ \llso unusual in corporatt �M.omer $1::rvice. •[1'tn-en•
iotemsting.and cou.nte:r to e\lerything an,ybod)• else ls doing.•s.afd
10m Adams, the presJdent olAda.ms Med ia Re-searcb, a market
researcb firrn 1n Carmel Calir. ·Evel)'Olloe el&e is making it almost
lmJ>O$&lWe t-0 f'Jnd" hutnM:
In contrn.s1, 81octbuster oul50Ur<l!s a poftlon or lts.clt'1omer servica
and when people do ctll, tht)• are eoeou ,;).Sed to use tbe web.s1ie
foscead lts Clii ceote:r iS open oo1y d1.1riog bus11,e.ss bl)W'S, $6kl
SIiane mngelist, seoior vi�president aod generai mao1139r for
Blockbusi:erOnline, be03use the majority d rustomers prafuremail
s1.1pport. whieh iS (IVilil:.ble 2.4 hùur$ a day, "Ourooline Q.ISIOI01;'1 iire
oornro,1able u11i11H emu}l lu QOl'Jununie...5e,• h,. :s11il
The declsiOn 10 Jnvest he«vily 1n <elephol'le cu�«De, servtce wu an
e.xpeoSi\'e one for Ne1nuc. bv.t it mi)' be o>ne 81Jvanlt18e 1hat tbe
oomper,y bas O\'er lts rivai, anal:,·sts say. •l(s vital in a world wbere
tbey're noloa8lr growingthelr costome r base.· MrMams said
Micbac I Osicr, vioo-p.re&ideot for infurmatioa tcchnology opetati-oos
and rostomer servioe. said he re;eacd cides Uke Phoenix. Sa!t Lake
City .ind Las Vegas. whlch aro knowo as calkentt!r capitals. berouse
of 1l*. lr hlgh i;mpl� e n1m(1o'et Nlk'!S. i1e. si,11i:!d cirs 1he gM•lerso P«r1lt 1ltl Artl �11u� b(thP. �nial f1Tilh1<lr. on 1}-, p;rt "'�'
service woders.
•fo bXHs ind curree :.hup$ aod rhe jilf!l)rt, lt'$1rn1;0i11.g h1M
oonslstaot people are io tbeir politeness and empat.hy," so» Mr
Osle� wbo is based atNetffìxbeadquaners: In Los Catos. Callf.
!5 MThf!ll!.'!l l:11\ t1f11!J\Ulo-fl3113f\gu� in 1hA lndusuy rh:)1 pooplP. are i:o
,13ded ;1ho1.11-phta!les IJke 'dtiP. 10 hlgh caller v-0h1me.' We're .,...,,_,
oon.séiously trying to coun1er thilt mentalily.•
Ms S: 11ilk ha.� tiet'!n v.,)rking 111 Ne!1Ri.t f.:welghl 1non1hs, 11 \·i:ft;nl1� by
caU <:enter standards. (MrOsic:rsaid bis goal .,,.as t<> kcep peopkl
"° tbere for ao average of rwo yeus. twic&as loogas tbe industry
ave.tap.) At $12.50 an bour, sbe sa.id, tbe pay is s1ighdy blgher than
In her- prevtous J<tb. tn retali sa,les.
r6
One o-hhe fim quesdoas customers as.k,. Ms fun.k :said,. is wbere, sbe
ls, and 1N!y "'-"Jtn"-'l�lhf!fr apfl"C'lVl'I m 1l1P. ans.,,V!r: ·Thf!y llle hearlng
lt's Mi lM'ing ()tj!M;U�� shesold. \'ery few caller:s haw.: ,i/lbd
about the disappeara.noe or the email opdoo -·
Email practice: Complaining and
apologizing polìtely
1 Read your rote card below and write an email respo nding to
student A.
I
• StudefllA pageJ2
You worlc at customcr suppon of EasyF/;ghts head office
in England.
\Vriro an appropriate responso to the email you will receivo
from student A.
2 Read your rote card below and write an email to sùudent A
who for t h e seke of this exercise will work for
SUnFurnitune-'s Customer Servi ce department.
• S1"'19n1Apafl"32
••d &o-na Tl!11!/,ti,tbftrflmf'J;
Tlck the followlng: ttatements tru• or lals.:
trw
false
Nati/ix customers can cal the caH center
to orderfilms which they then download.
2 8/od:.b/Jstcr is Nctflbls IY'IO$l important
oompetitor.
3 N9dlix prooesses most of its customer
enquiries by phooe.
4 More and more oomp,anies are
outsourcing their se1Vices to external
suppliers as well as mQYing services
abroad.
5 ._1ost oomp.1nles in the service sector
pr01ide customer ser1ice through cali
centet'$.
6 B!ockbuster dces not operate <1 cali
ce-nter.
7 Nedlixdedded against bcating in
Phoonix. Satt Lake City and Las Vegas
btcaust the cost or maintatning cali
centers there is high.
Eight weeks ago you booght a bookshelf from
a large Nonvegian fumiture srore.
At home when you opened the pacl:age you found that the
glass doorwQs c:rac:ked. Yoo went bacie to the st()r(!: to be
told th3t they would rcplacc the glass door, but
unfortuoately théy had t!X'I out of slock. Tooy promised to
send a replacement as soon as possible.
In the tJIE:!à1ltifoo you htl'le ehèckèd SèVoral times with thé
Customer Service desk o( the beai store but all they did
was promise that they would send the gta:ss dooc to ycx, a.s
soon as 1they got it.
13c,cauoo )'OU aro fcd up by n<:111. )'OU decido to wri� to th&
Custorne, Service department a t the compa(lfs
llradquarters i n Oslo, domanding to ha"t8: th� glass doOf
sent to y<1u from Norway.
St;anFumiture.
8 Ms Funk is one of the newest empJoyees
at Netflix.
33
Selling to the consumer
Lenming Focus
• Oesc,iling types cf retailers and
thth ptl)du(:l$
• Oescril:iinx cham ;:md am1lyzing
f.g,.irt=s
• lali:ingabout pie and bar dwts
Warm-up
8r
,1
Vou are going to hear managers in five different types of retail establishments
talking about their business. Match eeich reco rding with one of the types below,
Then find the corresponding picture.
1
mal order oompa�
2 :.... mom-aod-pop sto.te
Self Study
• Adjectives deseribing products,
l«:11tions and prioes
3
spedalty chain outlet
department stare
4
5
bt,g-box retailer
• fr<Ql!Onll; wllluicd 1Wrd•
qcOIX..fr.'< lo.,,. and 8JTIOOf'll to
• lalld"C about pie. Md bar cham:
approximabon$
Match these words from the recordings to ther correct definition,
......
Vocabularv
1g:
lJpM ol� ami tlief
2
suburban
•
upmarket
b iocated in the area just outside a city
easy to react\ aoeessible
3 oonvenient
e existing in reaity. v.tlh re31 physical fac.iliòes
4 bricks and
mCtrlar
d stylish and or good qualìty and therefore appea!ing to wea1lhy
5
prime
•
cons,umers
of the greatest commerciai value
C:tn you flnd :in e:xample of each store type In your country?
34
Reading: Discount food chains
1 Do a quick analysis of your own consumer spendlng and answer these questions:
i
1 \Vhere do you or your fam ly usually shop for essentials? Why?
2 \Vhich retailers d-o you thin\: ere the most svoe:essM in the food mari:et end what makes
tnem so successful in your opinion?
3 \Vhich of che fuctors on the right aro important to youwhon you s.hop for gl'OOefios7
!)OOÀ
wJ"'t!: fov \o"\O'\ey
q'-'..,,,li:¼-y
�oppi"-' e,qbie"-ce
2 Read the text and answerthe followlng questJons;
1 \Vhich facts in the article suggest there is a global price war in retailì,g?
2 Who are the winners?
3 \Vhat is thc seetcc of their socces:s?
The Germans are coming
Germany's "hat"d dJ,;count· model ot
Teseo, U-.e world's ròu.rlh-bigg.ast recailer,
sur.iermnrkel ro1i,lllng ls svreadln.g In � is rtghting un 1111oul
price war aga in�
Euro,.e.
Udi In lreland. and Belgium's Delhaize
Il 1s as rar trom tno marm1ng 1ooa1 or
rec:cntly sJashft<l prloos In response to
1 Frenctl: rarmers• i1H11. io:8ts and smau
.:uscountets. carmrou.t, LO,O, is u.ncter
,r
ramily-owned shops as you coukl
prossuro ,o cut prtoos..
·- - ---·
imagine: strip lights giare down on a
'-' nut can tM discounlérs hold onto lhéir
narmw range of produ(,15 in ugl}'
gains? Tesco•s finance director reoonl ly
for Carrelour. '"The)' are prl\'alel)' owned
sugge&ed that they .,.,--ere merely bo, •ing
patkaglng. displayed in coroboord baces
end c-an ta);e a loog-term approoc::b to
a �moment ln the s.un.". He was qulddy
,o plled on the floor and on k>w sbelvcs, But
exp:mding abroad. New stores cos:( li111e
sales are bOOmJng at Lh& 00\\' Litll
oontndkred by the head of OOylng for
oo to open and generale rapid sales," soys
discount suporrnarknt 1n sootb-v."'t'ISI
J0rgen ElA:lrs. rttall analyst at
!4 Ald.1 In Brkaln. who pJcdged ro open o
Paris. ·PNIVIOuSI)', thé German Cbajn
Slote a v.eek and wtn a 1enth or1t1B
comrootzbank 1.n trank1Urt, •so tha
markl!I (it has 2.9,; now� In �rnrnnf,
sluck lo Lhe suburbs, where poorar folk
disc:oonten; can expand during hard
dle he11rtle11d of discountiog. cut-priQ!
limes mom ra1>idly than an)' other kind
., li\'e: s;1ys Fatouh Mourad. the store's
manager, But rlslng food prloes and
operators ha\'e some 30% oflhe market, u, ofnilailer."
What should peffillps worry
wide.spread conoorn about pouvoir
» acoordin.g to Pionet tè.lall, a consuhançy,
and shopping at Aldl •nd Lidi ls too
com•cru1ona1 supermarkecs most. IB fact.
d'achat. or purchaslng PQ\\tr. In France
norm rorr1cnand poor amoo. The two
bave glven Li<ll the oonndence to pusb
1s tlla1 ttwl dlscotmoors ba\'8 proven
fim1s doubll!!ss: ntt:kon I lley ha,'é a shOI
20 inSid8 100 eily's limits.
tnemsolves adept at mo11lng u -pmarkct.
As eçonomic prospeas Vlor.sien across
oo even as tb&y mtain m()S( ortb&lr
at ropllcating Lhéìt posiUon elsewhem.
Eurupe, dlsoounters suth as Udi - and
oo Discounte.rs stock ru fr.t.ction or the
emciendes. In many murbts,. for
AIdi, anOl�r C',erman chafo - 3re t:.1king
instance, lidi now stocks .- limite<I rttn.ge
goods that a norm111 su1)ermarkec of�rs,
resultlng In fcwer suppliers. a htgb
mmct sbare. They 9>nerally charge
of branded goods aJong.s)de lts cheaper
some 30..50% loss fbr grocerfes lhan
\'Olume ot purchases and sales, and
t"J
�lal>el items. In Britain AIdi used to
ordinary su1,ermart<er..s. In t"rance.
massi,� ecooomJcs oF scale, ·roo would 9> be known lor Unncd and packaged foods.
·I
I,_ ,.
according to lNS, a rosearm litm.
M tind lO brands oftom:ato ketchup In a
bu1 bas nO'N also lncroctuced tresh and
discoun1ers increased 1heir markà1 mare
normai blg superinait..et,· says P.aul
déllcaleSSèn products..
to 1 1.2,:, in the socond quaner olthis
Foley,, managingdlnoetorof Aldi In
In rece.nt years the (',erman disrnunl
Brftaln. "In my store you wm fiod a
• year,\lp from 10.S�a yearago .whe:reas
modèl ruts l!Xperienced only oM big
tho sbaro fòll at Carrefour. tM world's
�iOJ ()( one." Ois.r.ounters ITl():c;fty r;ell
100 �I bacie. In March Udi pullP,d oul Qf
secon(l,-largest retaUcr.
10 thelr own-label goods.. wh.lcb are more
No,wey after four years of tJylng to
Dlsoouoters ar1oct prioos well OO)'Ond
profitabit tban branded goods, ,,,mero th8
estabUsb ltself. Roma 1000, a 1oca1
théir own stores. '"Thero•s a mass.i\'è
brand ovroer takés a big cui.
discoo.nter, will tal.è ovet Udl 's storèS
� gl0001 prir.e war in food relailing, muc:h
A1di and Udi, whic:h dominale the
thero. E.".8CUd-.'èS at tbe pos.b8r .Jdnd or
oflt provoked by the gains by A.l(ll ond
t0$ superrnarkél must be Jongi.ng 1 0 know
world or discounling, ttave aMual saléS
n estimateti at f.43 bllli<1n and f.35 billion
I.idi and other disooun ters." S3)"S Jnroos
how lhe Norwegians did it.
respecth-elf. oompared wtth € 102 bllUon
•deµed l'tvm J'Jw f('l.)IIC)Mtst, Awts
Amoroso, a foocHn<lusuy oonsultant
35
Sei ing to :he consumer
•
3
talee
Tick the followlng ,tateme11t, tru• or fal$t:
1
CoodG al the Pari� Lidi ov�l �re dJciphsy cd :,.ttr�livdy.
2 In Paris, Lidi locates its stores in low-irteome neighborhoods.
3 The German discounters are forcing food retaUers in other countdes to cut their prioes.
4 German discounters in france increi!sed their sales by 10.5� in one year.
5 An executr1e of a m&jor Brtish supermari::et thinb that the disoounrers' success wi I not ta:st long.
6 A/di and Lidi are optimistie about oxpOfting lhoir SU<:00$$ to othor counuies.
7 Oiscounlers are k.nown ro· their wide ran ge ol goods.
8 Oiscountel'$ aro liketj to bt hurt by a reeession.
9 BothA/&' and Udfh.we be:m doing "-ell on the stock. market.
. - L.
10 Norway is an es.peci.atly p10mising martet for Germen discount retailers..
4 Find expreulons In the text whlch show positive or negative developments.
positive developmcnts
5
negtitlve devcloptnents
Find expressions in the text meaning the following:
Teseo is io tourth oP orthelist of worid reta!ers-
2 A/di plans to wln
m or tho mark<it. ··-··---·---
3 Discounlers stock only a tiny parl of the goods nOfmalty on offer. _...
4 Dlscounters in Germarrt hi,ve ahnuton�lbird <lf the market. ··-··-·· ··-····· ........... _.........-..
s
A/dihas estimate-d aonua1sa1es of€,3 billion and Lidi has €35 bimoo.
6 Why do you thlnk the Ameflcan dlscounter wal-MNt wu forced out of the G,rman retall
market?
Ustening: The lowest prices around
�
l) 1 Usten to :in excerpt from C�sh Flt1W1 :in Amerie-.:in radio program :md Jot dowi, the prlces
for th.e product& below:
Product
2
3
4
5
Price
The typical shelf price fora bottle o f (laundry) detergent in the promotional
discoonting model
The f/Ve('fdWJ ptice fot a boctle of dete<gent in the new Bost 81Jrgain model
The typical g.roce,y store price for a box of c0<nflakes
lhe &se Bargain prioe fora box of cornflakes
The competitOr$' retai1 pricé-fot a mlaowave
� ù 2 Listen to the second part of the interview again and answer the questions.
1 In v.hat way is 8est Bargeh clifferent from the German disoounters?
2 Whic-h reasons for Best &rg8;,(s tow prices does Brad Allan mention chat were not mentioned
in tho article about Gorman discoontel'S7
36
Il
3
What explanations fol' &Jst Bargain', low prlcei does Mr Allan ,avold mentlonlng7 What
could they be? Do you agree with hl.s statement:-Yhe whole country benefits"t
Discussion: The future of retailing
The Shopping Buddy
(Personol Shopping
A1sistilnl) is a c:omputer-fike
de-..ice mounted on the
shopping urt. lt pr<Wid-es
infonnation abo-ut the
tocation of items in the sto-re,
makes perso-nalized offors.
I :md suggest.s ,ecipe ideas.. lt
allows the shopper to check
prices end edd up the total.
I
•
Look at the photos whlch deplet various modern
technologies used in retailing and dlscuH the
followlng questlon.s:
Hcw do you think the barcode has changed retaiting?
How could the other teçhnologies affect <etaiing in the
future?
Do these techndogies address the needs ot any specific
consumcr g,oups?
Ale there any dJs:advanLages in the uSè of theSè
technologies for 1he retailer or the consumer?
The lnterac-tive Shelf-Telker i$ a s.ystem for
cbplaying product information. The dc,.,ice works
as a sbding il'lteract.i\,. LCD monito<. Customers
can aooe.ss additional information using an
optional touehscreen.
n,e Self,Check,Out
Machine enables
cusrorners te v.,,elgh
fruit and vegetables
and scen baroodes
on items they want
to buy. The matc:hine
then totals '4> 1he biti
Md acc:epU J)clyment
bj card or in cash.
•
•
•
•
•
Customers mao,-/m.gt'lt be tempted :o_
Consumers may/mightwonderwMther -·
Consl.l'l'lefS may/might oonelodt thai ...
Pct.-ler$ oovld/wif prol.l�b� ...
�tafot'$ m,1f/miglrt hop(! for �-
37
Sei ing to the consumer
Business Skllls
Charts: Understanding bar and pie eharts
1 Have a look at the charts and answer the following questlons:
2
Walg1MII; SMtn
Soure«-,flOfK.or&
�oos6,bn
fa1i,:1: S6àbr!
3
How could you describe the disttibution ,of revenue generated by the top 100 retailers in
!heUS.?
Look at chan: 2. Compare the growth races of the supermarket sectorwith those of the
i
apparef soctor. Whore do you find thc higtwtst growth tate? Can you c.xplain th s?
How is lhe inforrnation In eh.art 3 differenl from thai in charts I and 2?
•
Rwenu• growth 2004-2007 of the 40 hottHt U,S. retellers
Rank
Comoanv
3 Amazon.com
9 Abercrombie & Filch
Revenue orowth "
114.3
85.5
70.6
62.4
43.3
33.9
32'.8
15 Whole Foods Market
19 Alner'ican �'°ID
28 V/ala:reen
37 Costco
39 Wa\..Mart
Average
45.1
2 Now listen to an e.xcerpt from a university lecture on the topi e Retailing in the U.S.,
in which the lec-turer refers to the same charts, and complete the following
se ntences:
Wa.t.Mart tops the list bJ far with S379 billlon. whieh is .....
............. al ,cvcnuo combincd.
retalers in the- U.S.•
Although the pie chart sho,,is ont,, .......
one thing is rather striking.
roughty $64 milion eacfl.
3 C4S(ç(J·s and Torget's revenue
4 SvpcrvMuc, which ranks ronth, has revcnue of $44 million, which is
.. .. . . .• 12%
2
5
6
7
8
E
1
1h,...,. ,nd oonpf'.lgpe dti,rui
Charts: Describing bar and pie charts
Skills
1 Orne of you is Student A, the other Student B. Look at the correct chart and
I
38
Wa/-M()('t'S revenue.
. that ....._ ...... Wal-Man.
lts growth rate is ........._....
..... growth rale.
American Apparel shwfed .......
None of the supermartets are
On� thewhole food $@llerWhdeFoodsMnrket
them- with 70.6S
de&crlbe lt to your partner. Your partner will use your de&criptlon to complete the
template. Be sure not to show it to him/her until the chart is complete!
._. Sludent A Chart I pa;;e 124, Student SCha"'r2 page 13d
Pie Chart
Soclologl.sts In the U.S.
rec.ntly publ.isbed •
11udy on 1hopllfdng.
Student 8 wlll tiv. you
thll relevant lnformatlon.
Co,np..te the pN ehart.
•
o
o
o
o
o
o
I
Business Skllls
Bar Chart
The groph stlows the
deYelopnent of Mles of
two dlffe,..nt brands at
one eup«metket.
Studtnt � wlll giYe you
the i.lewnt lnformation.
Complet. the bo.r chart,
··�------------�
.o+-------------1
35+-------------1
30+-------------1
25 +-------------1
20+-------------1
--1
15 +- - - - - - - - - 10+-------------�
S+-------------1
0+-- �- ��-�-�---1
,"' ,t
,>
I
q,t
o
o
o
,J'.I
,t ,1
·
<r
/
Consumer behavior
across cultures
I
1 lmaglne a forelgn food retaller lntendl.ng to
brec.k lnto the American market. How could
ditferences in the factors listed belCMf affect
the company's decisl on as to where to locate
its cutlets and what goods to offer?
,ge structure of the popolation
population densir,avai1ability ol pobllc lransport
h�ra� wotldng tim& pet week
tthnic minori&s
health çonsciousness
price of fuel/<>I
2 What would be dlfferent if the retailer were t o
bre;k lnto the French market?
•
•
E) Talking about pie charts
I) Tollcrlg tlbout bor tv'ld !>ti Q"'ltwts
The le&cnd$hc.iw$ lhe hnmds repre:9ented in lhe ch.i:rt.
.., sold .wioc/ three timcs .s rr0ny,� ;as ,_
..:.s markel dwe i, onty a quarter/ a tlird/haff that of ·�
·� .shl,,\·edltle most/the leost sl&nlfic.,,.l lV()Wth,
·�'tshare of lhe mllrkel wossfxht_� more tho n /less than ... 'l.
... l\as app1o:ldmate!y /Just °"'er/roughly ... S of the m!lrket
The bi�s:1 sliee/se-wnent of d-ie pie ttptecse-n.ts -· whicl-, l\ad
moro thil"I il th1rdQl thc tota! tvmc,.,cr.
Thc lar�t proportion of t�.cftsoccurs 1n thc ... atc group,
_,'s matt:et share acoounts to, ·� �ot 1he total.
EJ Talking about b:rcharts
Thc l(-a;xis/y,-.axl$ rcprcscfl(ll/$hoN$ lurncP'ler in d:11.trs.
Leu )'ear ,_·s t1Jma.-er 81'llO'Jnted to $1.2 mlllion.
39
Seltr,g to the consumer
Business Skllls
Role-play: Choosing the right distribution channel
Divide u p lnto groups of four and read your role cards on the pages listed. Student A is the owner
o,f SuperStrudel, studente the owner's partner and investor, students C and O are company
empl oyees with different agendas. Pre:sent your arguments in the rote-play, rmaking use of tht!
graphs ,nd company profiles on this page •
.. SWdcncBpago 125, S<udeocCpago 119. s,,,,.,,,Op,ge 135
Sltuatlon: SuporSrtudel is a Eu,opean bakety which starléd operatlng in the US. five years ago. lt
spedalizes in hand-crafled bated goods - breads, cakes and pa.stries - which have become a hrt with
health-conscious consumers who appreciate the use of organically g:rown ingredients. lhe CQmpany is
also unique in tMt it is run on a business model emphasiZS"lg employee participation. i. e. employees
a.re irwo�1ed in the de,c:isi,o�making proce$5 and receNe a share ot the pro�1$. A yea,r ago the owner
was pressed to buy new equipment and quictty found an American partner who was willing to invest in
the b.akery.
Supe,Strudel has become so successful that lt has eaught the attention of major sup ermartets. lt has
been approached by ali six major food retaiSers in the area, who h.we expressed interest in distnbuung
it.s produets. This is a unique opportumty to expand. The owner is no.v going to meet with his partner
a·nd employ!!!e representatives to decide which retailer woutd pra.,fde the hest distnbution channel.
I
You are thé awMr and foundér C>fSvptlfStrudol. You want to prt$et\lè thé integrity of )'OUI' originai
business model. The high qualif!/ of your ingredients and t.he concept of employee pairticipation are
principles you al'é l'IOt willing to gNe up. You would like to have a di.wibt.ttOf who ,esp-eets tMse.
8i1Mlirt:
• �to -.fftfl Wltge:
&'"*"ti mefCll•n•r .itb
lo11e 1ooc -.11 fl'!lllf'II
Matra Mll'bt:
t)Od�d'lail'IWilh
tf!'III sllO!'•
. tells fU"'el 11\d :lolW·
tr1nd peoduell
• au�epllca
• noa •• p,oduct.s ora,nlc
GrN,-(lodcfe11 Fooda;
• e.. lttprance
I� G'f.wlic prod.,cit
11-<ludl,.-:
can, t1Wf
lo,- tlouff!lokl p1od\,çl$
•1
""•I\ QI..1111y
•9'!1
�°"'
lliln:111'/Jt
SalM growth 11'1 the 1.., three yean
15,0l-.--------------,
Odw1?9.I.
10.0l+-----------��-1
S.Ol+-----0.0l.j--._..,..._.....,._
-S.Dl+--------- --< 1-------1
·10.0l+-� - - - -�---- --�-I
c
.di i Jj!lfj
Gu�!,1$
Fooòi 1,,�
Grff11
Ma«', l.lwt.ct di
20
18
16
Ctiatomer ratlna of •hoppfng experl•nee •
Aw,-ge W&(f!/hr. tor ul.. cklrb •nd cHhien (flr.t yeer)1
14
12
10
8
6
• Onue• of 20,
hcll:lt, f\llCtort
$UCh M .aoot&etion
witll .sWI& tlrp11l.
,�ng_ llel�II.M,,t
of �..r.
'
2
40
••
·e
j� .e
$16.00�--------------�
$1�00+------------;-,....----1
s12.oo+------------1 1--- -1
S10.00
$8.00
$6.00
$<00
noo
so.oo
°' ,,..,..
I
•
2009
1999
Total Populatlon
Just after Sam Patel finìshed his business deg�e at
Wlnstead Metrop0lltan Un�rsity in England, his grar\dfathèr
dled, lea'ling hwn l100,000. Sam, .SWa/s a pa,ssionate
,unoor and sportsm3n. dccidOO to cOO'lbine his passioo W\th
his inte,e:st in busine$s and open a sports gc,od$ store with
spceialty rnerehandise. He now has to decide on the most
appropriate location in Winstead, which hBs a population of
abOIJt 600,000.
Wlnstead used to re� heavil-J on manufacturing. but since
lhe early 1�90S there has beet\ an inf\cc or scNic0 sect«
busa'leSSes. especia1)' çall centers and retailers. h has atso
b&come a cente, or fiRaoCial sef'ViOés for the ,egion.
attracting a fW!fl group of white-colar workers. lt has e large
stuOOtlt pop\àlion due to the prestnce of [ts two unNetsitit.s
611d mtral tigher edUCOÙQll çQl�ge� l'fll3teid 01$0 bo63t$
two league footba• teams and has a long t radition of focd>atl
fan c::vlture. fhere are good sport.s fac::ilities and a large
numbér of footbal and odli&r spotts cl.ibs.
Sam has been looking at variot.1s locations. On the one
hand, a large retail mall has just opened outside of tcwm. in
wtiK:h he could ,till rent $pac::e. There is also an ovtlet mafl
in the area. On the other hand, the city is making an effort
to .fevM} its High Streot, which in rocent yoars has gane into
decline, lhilnks to redevelopment mea,vre� at least in the
first year he c::ould expect subsidies from the munN:ipal
governmeot to help finance shop rent. In reoent years the
area atOUnd the tNiin statio-n has atso boon upgraded and
there ate sltops in this net.ghborhood which could be rented.
563,774
0-18
132,486
19-40
138,123
157,858
107,118
28,189
39.763
1,321
17
6
-
.
•
•
•
Writing: Summarizing information
You are a consultont to SuperStrudel, the bakery ductibed
on page 40, Your cllent has uked you to make a
recommendatlon as to which retailer they should work
with. You have collected your findlngs in a 20-page report
but1 as a meeting is taking piace with SuperStrudel this
afternoon, you rw!ed to giW! the owners a short summary of
your flndlngs. Wrlte a memo summaritlng your
recommendatlons,
Then visit the store·s homepage end ask yourself how
impol'tant the following factors are fol' you:
•
tht shopping &xperienot in the stor&
being able to touch, fee� srooll the products in the sl04'e
COl"I\IMience (online pucehase vel'$us gol.ng huo town)
meeting friends in the stare and soda!izJng with people whi\e
you're shopping
Oescrtbe all thls In a p3l'lgl'aph, flnlshing off by fol'ecutlng
the fvtul'e of these brid<s and mortai' shops.
Reading: Big Retailers Still Struggle
in India
Read the following srticle and write a short essay
answerlng the questions below.
By Mehul Srh·osta,·n fr-oru New De.lbl
.\lost lndlMs ooodoue co rind biJC N-tail 1,Cores otore lnteresCiUl(
as c:uhural pl1e.no..ena ehan as plooes t odo thelr actua1
�ho1i1)log.
Web research: Online retailing
Thlnk of four brieks and mortar retailers you patronize.
Check whether they have online scores.
lf so. how does the range of merchwidlse online differ trom
that in the bricks and mortar store?
Are there any special offers?
What methods of ordering are pos5,1ble?
What is their poflcy regarding payment. retuming merchandise
(e. g. mailing or piek-up seivioe-, return to store) time
restrictions.. rehmds?
• How C00\18nient would it be for you to 0tder merchandise?
Be prepared to talk about this in the ne. x t class.
Field research: Evaluating the
shopping experience
Choose a brlcb and mortar book shop or electronlcs
retallel' that you know well. Thlnk about the total shopping
e.xperlence they create In thelr polnt-of�ule (POS).
Cons1der the following elements and how the consumer is
influenced by them: entrance, aisles, shelves,mus.ie,
special offers, customer sel'vlce.
42
J\1.8 � fcw d,ay11 tw:1'9ro OhnU, tbe n,'M4'}' llìnd\l, �kb ond Jaln
� �$.UV31, Rt11j�xoi1 P1ndk knew it w:,,s11rn.e to buy someg:lfts r<Jr hef
fa mUy and frk:nds. Soshe hopped on the De.lhl MetrO for • '5-inioutt
ride across town co the closesl Blg Bazaar, a b.ig-bco: wannabe
ofE.rlng everything from saris aDd ae.ck.ties to oornlllikes end rrozen
çbapatls. The 34-t�r-Old bomemal.er spent aearly an hour slhlng
10 tbn>ugh piJes -0f cltiklre.1,'11 tlcd1et, iidm.iring w;,t1;d1es alld lryinx <11.11
cell pt1oni:,$.
11w:n, wuhout making • 1)1J.rchase. she hopped rtghL ba<t on tbe
Metro tmd headed for the noi$)' Strffl muicet io Bhosa,I. tbe woridng­
dass neighborbood whete sbe li\•es with her busbend and three
l$ chJldren. Thern, shopkeepers caUed oot to ber li),· name as she 1.nade
1111::rWi)' in 111d -01.1l of 11'10111-0,i1,1_t-pop �wres clv1r.hlng ,1 liti c,f 1iril);.S
lrum 1t1e Dig 8::ixtiar. � 1ìid(�d
out a SJ20 pbone for her sister:
the prio8 was about $5 less
zo c�n che 8ig R.w,.{13t, nnd rhe
shopketper had lt delf\'ered to
her bouse three hours later,
wbe.re ber husbaDd poId o.uh.
"Bis Ba2.1a1 was nice," 5a}'S
n P.,ndlt. "131..1t I juSt wa nu,J- 10 see
iiill t)ie l)ritll:lS. I dou'1 l,uy :,I
tbose blg shops:
•t
As Dtwfli flreworks ltghc 1.1p tlie Jn<Uan $kle$. miTIIOM of people
across tbe oountry buy MW apptianoes. tlotbe$ and gifts fur d)(I
,o encini family. lo the days leading up t o tbe festl\'al. marl..ets in Oelhl
haw. l>i!en pad:ed with shoppersv.�ightng g()l(I bangles on llny
sc,:al,i:o.ti 1hey hr,:rughl trvm hn,�. dr.)Mlng {ln1��1I childn:n fiwn
store to.stm. stuffing tbtm into S\'11--e.aters too hot for the Oaober
balminess and speodlng <:ash squirreled away tor montbs.
�
·rRICK\' LAWS FOR J.OKtlGN RtfAlUNS
46
But like P300tt. mosa l�lar» flnd blg rec.a!lett rn()f't lntereslif\l as
cultural pbenomena than as ptaces: wbere they woukl aaually buy
anything. lodian regulations for foreign nnaUers are c;omplica1ed;
bis-ben' stores such as WaJ. Man o, Catte&:lur areonly :illowe,d 10
panoer �·lth lndlan companies tn 1he wholesale S&cror, i-a:1her 1h,in
scUin.g dircct.lJI to CUSl:OlllCt$ likc Pandit Mcanwbi.le, singl&-brand
retallers like Levi Suauss tbat primari)}· 98II one manufactu.ret's
producu are aUu.,,'ed to seU direaly to custome� but tb8y must aJso
h8ve a jolnH'f!.nlun.<! panner.
Th.at means that for fareigo-owned r etaile.rs. mucb of Jnd:111 re.mains
oul ofreadt. M.arks & Spé!oo.t, for 1ns1ance. has fuit 15 sco�
1hro11gh a.n illla!W! wi1t, l\:!lianrA!: lrnlu.'\1� al1hr,ugli1hi! Rrl1ish
malbr said il plans to add anotber 50 outkts i n Jndla. througb a
joiot \'eot.ure wit.h Bharti Enterprises, Wal-.\tan in Ma)' opened its
� ftrsa lndlan sin.re - callf!d BP.lC Pr1a! Mndem Wholesa!e - In 1he
,
PunJabl city of Atnr1tSllr; but . , allowed only tose.lito people who
iegister by sbow-ing tax docwne.nts tbat pctlVe the.)• o,,.•n a retail
outlet. often Clii.led a ltiraoa SlOro. The ;oint venture bopes 10 open
anccher 1� oudets.
-n
"Jbc suoooss oftOO smaU pli)'Elrs: - and tbe- larg,er ooonomic sJcwdown
- bave oontributcd to a shakeout io lndian retail. Ncarty 2.,000 shops
10 ha,,,e. closed in the past 18 mo-nths.. Subbiksba. a l,600-.store d1sooont
diaIn, r11n (lut (I( M<ll'leY 1(1 PfìY t:!fflployeE:!ì «' f811 e11rly thls yeiar 11nd
:th111 d(lWI\. �nr.t!r'� Rerall (l'l(I (Ollf'leCIIM\ l(l M:,ii::t & Spet1cier) hit�
dosed down 150 ofits 400 sttop,. Pantalooo Retail °"'ned by the
iame oompany that runs 8ig Bazur, closed 103 ofits sbops
n oounuyw1(1e. As lndl.tt's lar� reraner. li Stili hat more than 1,000
shops. The FumreGroop ts re11tru01uMng the enllre �n,p.,ny ond
oonsidering seUi.ng equity to raisc fuods. Vi&bal Retail wbich runs
170 dboount .stoni,, is resi:ructuring itsdcbt
\YJ:nning O\'ef ou.stomers may nor be u ea:sy as wioning 0\-er the
eo 80\'erament. Re!Ulnce Jndustries' retail c;bain, Rtliance fresb, bad to
close $IOl'el ali uound che country - ITW:lud1n_g 12 In lfnar Pr.adesh,
lndJa's m0$! popu!ous $18.te - In 2UIJi' Md 2008., pobt1,c,illy
oonne,ued ltadet$1ed pl'Cl(esU atialn.,:1 lt, ellegìng lh3tl 91 rif>J)elll df
farmtrs.. 1hat distrust ooatinucs evco coday, in spltc ofRet1ance· s
Il!> plans to open ...,.bOXsala stores f-orttaders. ·They bu)• comm,octities
Uke .sp lnach, poc!lloeR(lr frul1 tit dirt-d\olllp rates ftnm 1he pror
farme�, sell 11 M thi!:lr Rf!U11n<e Fre�h stoM". �nd mine m(lney," C'.opal
Bbargava. a state minister for ruro.l development in lndia ' s l�st
&tate. Madhya Pradesb, said. aooxd.iog 10 media repol'U.
•o lndian oompanX:s 00.VC 10 tiptoe around state p,'ernmcnts trying, to
avoid ia ropo:it ofwbat R.lbncet fu$b woat th.r-ou,ab- fboy nc,od to
flguM 1hlng:s (lui In• hurl')'. "f:wmrualty, onr,e modern reiallers om
ger thelr supply chaln lnfrnstToetuN! In plaOP., there'$ a 101 more In
terms of pricecompetiti\'leness thai 1'.hi,y can offer.• says Mohan
•) Singh. Hong l(oog,,OOSed ana!)•st forMacquarie Socurities. ·M
lndlan.s grow rlcher.� he adds, ·consumer spendJng wfll skyrocket In
tbe next ren yeats, (J'(!atlng an oppom.mlty 1ha1 lndlan re1e.1lers mu.st
f gt ure 0111 hfl,\ 10 e xplOII.•
What makes Ms Pandit typical
ol mitlions
of lndian
showers?
2 What conditions must b(g retailers like WaUA'art fulfill
:4
"°
M
MOM ANO POP STlLL RCtE
TOO market romni.n.s almost oompk:tety dominatcd by smaU corner
stores. thougb. with chains d aircooditioncd supcrmarkcts o.nd blg
box oodets now holdlng less 1han 1\ ofthematkei. aooonllng to
bt'd:etll.&e house r'.tlelwetu Seau1tles.. Because thf!y don't ha,;,e rolleh
of a foothold In the country. mon of these oompaoios M\'e.1ù li.id a
chaoce to oo.lkl up t.he a<ut of efficiem suppty chiins t.h,t allow
Wesrern retaile.rs ro dtscount rhelr wares deeply. Meanwhllt\ the
nlmble mom-and-pop srores explou persona) connea1n.ns to
5'ltippm1, bome delivcry. e,�y credit. a.od gifu and discount.$ fur
lo)·aJ cu.stomcrs, 'Some things are chcapcr at the big stt1rcs. but if I
te.li my corner guy tbst I saw cooklng od for $7 a kJlo at Btg Bazasr,
be gtves tt 10 roe for 1he same prlQ\ • says Pandit.
before they can open stores in India?
3 What expl3ins lndians' loyatty to mom-&ndi>op stores?
4 Wtl/ haYe lndian ehains not been mueh more successful
than Western on&s in lhélr own country?
5 In )'CM opiniol\ i.s there a way 10 combine the benefits of
the blg-box stores with those of the neighbofhood
retatle,s?
43
Globalization and
international trade
Lenrning Focus
• Ow-..ussing aspectsof
globa!Qa1i<,n
• Us;ni;: the voo.,1;,ry of trode
�� lr#!nSJlorl
• Telcpllooing; 8U3oe$$ to
buSÌJ"le$S (B28)
• Makin.g smaltali:
Self Study
Warm-up
Create a definition of gfobalization using the f'ollowing sentence parts:
•
an interconnected intemational market
globali:lation i s
move a-cross national borders
resuttlngin
•
•
the worlctwlde process
to other markets
in whkh goods, services and capitai
• Apclog�111g lor a mistatc
• USiflg the right form: OCOJ»• U$.'l'lg prep<lE,itioos of time
Would you say thls ls a good definltlon? Ooes lt leave anythlng out?
011e of R.ebeoea's fosa: <:hallenges ai
Ex/lil,m,,te: Meeb11g the pn»1)«:lf'o'C
sponoora dcfinitcly some
-----
Which of the following statements about globafizatlon do you agree with? Discuss them
in class.
Globalizatlon has
resutted ,n a -c1'0p in
pOY>erty worldwide.
•
ç
ti
44
�
•
Globa!izauon
Globalizalion ha:s
been responsi�e for the
emergenoe oi extremety
powcrtul corporauoos.
-•
Reading: Trouble with Trade
Vocabularv
1 Enter the following tem,s in the mind map below.
................. ............
/e ...vi•O'\�'I\Ml ,olh,.Ho'I\
:.,
Negati,e
con
........ , ............... ..........
.:
.. .......... .. ...)
..............................
ref-,,,.u.....no11. """'l\'\$+
�� �;;���;;s'° �-�s�ictiOI\S
uenoee ;•
1
...........
· .·....................... ........
,•••
...............................
Positive
h'dlv<l 411.\f\J. 1-ol.\'ÀS"" .
consequer.ces ,;.,/...............................
rotectioni9m
. ..... ...... ... .. .. ... .. ...····..
.
........ ......... ........ .......·...;. Roaoono lo,
;,:
:: .,
·.
··...............................
d,op in p,ice of aoo<ts • e<:on(;r'nic- v,,,,11th • eoonomlc inequti!ity • :rrfJ 11 ·ul�etl ·1ian •
norms and scandard:s • qUO('as; • spreact of materialism • reduction cf bafance of �men1s deficit •
,,,,�1.1&· orlnr: ctbe: cosmtdet'nesrrlclbo, • :Jpecial inte,e!lt$ o( dOl'ne$diç industrles • Ad•m Smlt�
Th� llt'talth o/ Nat.lom {1170) • subskies • sweatsh� • .l,;tÀHe-• terrorism • t;,e
Iedte r'&r�
2 Match the following terms with the best definition:
ripple effect
a materials before being processed or manufactured into
8 final form
2 watel'Shed
b
3 pact
e a tuming point
4 social s.atety net
d a series of consequenoe5 re5ulting from a single e-..ent
5 raw matcrials
e an agrcement bctwecn two or more partics
g(Y\'èfnment .services such a.s health care, old age
pensions and unemplO'fment bene.fits
3 What aspects of lnternatlonal trade could people find troubllng'?
4 In the following article the Nobel laureate in economics and Princeton professor
Paul Krugman talk.$ abo\lt his attitude towards global trade. Read the article and
complete the table on pa,ge 46.
Trouble with Trade
While the Unit.ed States has long
1)0()rer than we are and lhal p11y lheir
importM oli 11nd other "1\\. m3terials
wQrkers moch lower wagp.s.
from the th.lrcl world. wc u:sed to Import
" For thc wol1d cconomy as a wbolc manuracrui-ed goods mainly trom «l'IOr
aoo especiall)' tor pooror nauons­
., rlch counrrlcs tlkc Canada. European
grow1ng tracie betwoon h.lgh-wa� and
nauons arul Japan.
IOW--WagQ oountrles IS .a VO:r)' gOOd lhing.
Out recenUy v.e croc»ed an impurlant
J\bcwe ali, il offl!rs b11c.kward tic:onomias
� their best hope of mwing up the inoome
w$tershed: we now impor! more
manufacrurect goods trom the thlrd wodd
13dder.
10 th(ln from other advilnoed eoonomies.
But tor Amenon workers the s{orf is
mucb less poslttve. Jn foct. lt's hard co
Th-01 ts, a maJortty of our tndustr1at trade
avold tbc concluSfon t.llat growlng u.:.l.
1s now wllb oountrlcs that aro mueb
tradé with thin:l �'Otld countriés roduoos
the real Wil,gi!5 of many and pe1h11ps
most woriwrs in U\is C<>u.1ìtry. AOCI thal
realily makes lhe politics oftrade very
difficulr.
:,o Lct's talk tor a moment aboot thc
economics.
Tradc t>cf\\'<.'00 hlgh wago oountrles
tends 10 b8 a mO<lest Wih tor aii or
alm<J51 all conwrned. WJien a free-lr.ttle
:is paçt made il poss.il)le to integratB the
u.s. and Canadian autolndusules fn me
1960s, et1ch country's indusuy
concentrarccl on proctuclng a nam:rwer
range ot products on a &argor scale. The
15
45
Globaization end
intemational tracie
ropla-ce tM jOOS th� 1os1 to rorei.gn
oompetition. ;\Dd l<W,er prices al Wal·
60 Mim aren't suffiçient oompensation.
All this is 1extbook inlernalional
eoonomics oontrary to •..,,hat people
som«tmes asoon, economie theory S3}'S
that rreo traoo normalty ma.Joos a countl)•
M ridwr, bui il doosn't saf thai il's
normally gOOd ror ew�ryone. Stili, wbOn
the tifTects orth inl-wyrtJ exports on l'.S.
wages rirst beçame ijO issue in th�
1990s. a number of e,conomJsts - myself
10 lndu<l.<id - looked at the data and
ooncluded that an)' nego1tve ertects on
result was a.n an-arounél, broadly shared
riso In productiVlt)' and wagos.
L.S. wagcs wore mO<lest.
11,a troubla now i.s th.al llieS8 effetts
Oy oomrast, trddé bètwt1an courìlrias
ma)' no looger be as modest as 1hey
a1 \'61)' different lmreJs or economiç
d�'e101nnent tends to create laJge classes 1$ were. because imports ol manufactured
n oflosers a1 well as winners.
goods from the thìrd wot1d h1"l! grown
Although lbe outsoon;lng otsome
dram3dcolly - from Just 2.5\\\ o/ G.O.P. In
hlgh-toeh Jobs to lndJa bas mado
1990 to 6!<, In 2006.
Ana lb8 biggest gitl',\•th in imporrs has
lieaauoos, on r>alaoce, bi.ghly ooucatoo
woOO!rs in the Uniled Slates benefil from eo oome from countries wilh \-ery luw
wages. Tbé otig.inal ..0(11.vty
» higber wagas and expanOOd fob
indus1ri.ili1.ing eoonom;es- f'.Xporting ma­
opportunities because ur tr111le.
nufaro1red goods - South Korea. Tuiwan,
Bvt woii-.ers with less formai edU<:ation
llong Kong and Singaporo - pald wagos
elthcr sce thelr Jobs shlppod overseas
M thai were a1>out 25% oru.s. kl\•els in
or nnd tMir wages dti\<:en down ti)' tne
» rlpp,e ctfoct as -=-oorwo11rors w'lth
1990. Slne& then, hawevor. che souroos ot
our 1m1 )ons bave shiftéd 10 Mexieo.
stmilarquaUfic.:itlons crowd into tbefr
whem wages are only I1t. oflhe U.S.
induslries and louk foremplo)•menl lo
'°
18\'�I, 31\d CMn,;a. \\ l)QrO tOO)"ro only
,o about 3'l or 4$.
So am I arg;u ing for pf\llectionism?
l\o. Those who think thai globaJiration
fs aJways and everywhere a bad 1hing
ne wrong. On 1he oonrrary. kceplng
,.,, wortd mart«lls ro1auvo1y opoo iS cructal
to llw hupes or biUions uf poopte.
ll's onon claimM tbat limits on 1raoo
IJenefil only a sn"dl number ot
Am,eriçans, while hurting the vast
100 majortty. Tllat'.s stlll true ofthlngs llke
t M lmport quota on sugar. • When il
comcs to manufactured goods, u•s at
!cast arguable tMt tM revcrso ls true.
Tllll! Mghly édU.C:alOO wo11.eis who clàat1y
106 benefit from growing 1rade wi1h lhird­
worl(I economJes are o minorlt)', greatly
outnumbered by lh0$!.!: who probably
,_
As J saJd, l"m not a prc(octk>nlst For
110 lhè sakil ol'lbé wOf'ld: as a whot&, I b0p8
lh.al we respond to thE!. trouble wiU1 tr..tde
nùt IJy shulllng trade down, bui b> doing
things like sirengthenins the social
safety nec. But those who are ,,.-,lrrled
m about tra.dc ha-.-e a polnl and dQSOl'\'e
some respect.
Effects of gSo�I lr'adc on the U.S. economy
Benefits
--- ..-....... ..-.. .....................
• Sioco 1982 Ok: US. gOWtrnn>c:ol
ha<. maintaincd l"t'6lri00on.s c-n
sugar fOOf )l)rts to the U.S. in order
to proU.!ct A�riean suga, growers.
Thls has disadveotag«t Ameticao
sug11r-ut1ng industrie$ an<J t'-e
COOSUOlffl', wbo fl'lY morelbon
11111c:e tbe workl prloe. 1M! sugar
r.,rogram ha.s boon sh3tpl)'
c:rilidlOO as an ex.ampie et U.S.
protect.ionist tradepol!cy.
___
5 Ooea Krugman think globalization i& a good thing? Highlight the words or phrasea
which show the reader that he is vacillating between the two points of view.
6 Flnlsh the sentenee; The trouble wlth trade ls thit -··
7 How, according to Krugman, hat international trode changied in recent years? How
has his own attitude towards trade chang:ed?
8
46
...........................
lf Kru_gman had focused on developlng economles lnstead ,of the Unlted State.s,
what benefits and drawbacks of global t. r ade mighl he have mentioned?
--•
Oiscussion: Thinking about globalization
1 In today's world it is not only manufacturing jobs that are outsouroed but any jobs
that c.an be digltized. Can you think of some non-manufecturing jobs that have
been moved to low-wage countries?
2 What klnds of Jobs are not outsourceeble?
3 lt has been said that young people In the West who are entering today's Job market
are In dlrect competltion wlth mlllions of yo.ung people In China and India. What
skills and abilities do young people need to make sure they will be able to compete?
Listening: The container revolution
1 Flll In 1he gaps In the followlng sentences U$1ng one of the words from the box
below.
I
lhe warehouse hes hired an additional security guard because of the problem of
2 Rail transport is often considcrabfy faster than road
3 For some travelers, the
_.. is le-ss lmportant than the journey.
4 The aitcraft is duigned to cany
as 'Nfl M pa$Séngers.
S lhe hui!ding is srnall and doesn't pra.iide much space for
6 The
7 There is no .....
officers are on strike aOO refusing to check cargo flights.
··-··-··-·· on goods eoming r,om ocher countrieswdhin lhe E.U.
8 Al items sent with e.x4)mss OOlivery will té-cei-1t priority ...._ .
9 lhe
customs • destf'lation • d-uty •
freight • handling • haulege •
pcl:cnng • stcrage • wssel
has a capacity of 1,000 passe.ngers and 306 cars.
2 Listen to the exee,pt from the radio ptogr:,m Busintt• World and mark the
following state-ments true or false-:
1 Ma.lcolm t.<clean began his caree, with a sm�n Re-et of ship.s.
2 loday 191 of al goods ate shipped in conta.iners.
3 Michad Brown's falher also worted in a container port.
4 lhe c:ontainers ere brought directly to the ship by lorry.
S lhe termlnal manager decides in which 01der containers are loaded onto ihe vessels.
6 lhe tee fOf • container trsnsport ean change dramaticelly from ooe yea, to the next.
3 li sten to the first part of the recordlng agaIn and deseribe how tra n&port In the
past d iffered from modem container transport. Use the construction used to.
• .G9e:�s l\Se.J.. t:cLO.e. b'��S'PottU l� w9.<>.J..e":\_��t-es .'>.f .t.>"'- f.�leJs,_
.
....wbe.-.,.e. �. �P\y..tbey..�v.e..h�S_f.<!ri:eAi':LC�t:�h:\!eX-S..
. ··-..····-··
4 What qualities of containers make them ide-al tor transport?
S Containers are also used for purposea other than transport.In what other areas are
they used?
47
Il
Globar12ation and
intemational tracie
Business Skllls
Telephonin!;I: Business to business (B2B)
........
I.Imi dc I� dtrd al!d
Vocabularv
1 Adam Cri mm of Mapet Engineering in Braintre e, U.K., wants to send a consignment of
equipment to the U.S. Listen to the t elephone conversation and write down the follcwing
information:
1 deadnne tor the arr ivai of the goods in the U.S.
2 saiing dattJ of vcucl that would ,cach Houston by that time .
3 a,rHal date of sarnevessel ..
4 tota! time tM goods will spend at sea .
5 rate f« 40 fL container ...
6 custo:mer's special requirements
2 Mave a look at the followlng BUI of Ladln& whlch Adam Grtmm hu reeelved from the
thipping: <:ompany. Oou it <:orrupond to his i nstruetions?
BILL OF LADING
MuffllDef ot ong1n1111 l:IIL.: l
Oale: QXlXllll(
_, .,..,...
Name;
..........::::;"}::!--:
TOM (nffleeMQ
CARJ-tlER NA.llf: Th.i:is Shipping Ltd,
1�'-fSln:ct
CW5 8111
UK
Oceen VHHI: Vlcloly
CON§ICME;E
Nal!lll:
r:a.o:.._..
M;ipclE�OIICl)etlf}
...
.,,.....,.... ,_
'
.......
Pol't nfl��-
ne�oo..
o,in, TX
Por1 uf Oisdl11gi:: C.!ve,IOII, TX
't�A�
Apolopi ni for .:i mWbt «
i11001111('n�
Skills
E:! Softenng
&tn wh,n you •ie <1nnl)'fed, il
ia importent to �JCprus yowseH
diplomatica lly. Here are acme
e;.preWOna tha t are used to solt8n
criticism and complaints.
l'm afraid ·-
11 M S(sìfy, bui �·
Unfommtet,, .•
l'm sure yoo realite thft ...
• Would )'00 m11d ..,?
48
Fin.. ,_..lllll:klft,: HollMOI\ TX
F,.l(lht (:IIMQ,t T_,,..:
..
----·-·
·-·--..--..----�
wEICNT
,,, ..
•
(:-
,
COMIIOIXTY OEiCRll'flON
11u01.c.11r
lftstNd:IOfK
Fragle n1e«11*� PI� t1.-11lle wilh O'tl"�
I.çoo Amount: $
-
3 One of you ls Adam GrlmlT\ who calls Thetis to correct the mlstakes In the 8111 of ladlng.
The other is a Thetis employee. Role-play the t ,elephone conversation.
Business Skllls
-----•
Small talk: Saying the right thing
1 How doyou feel about small talk?
IIOt&t•kfib'W(l(�
whM IO talk abo.«
Do you find it easy to talk lo peop!e you have jusl met?
What do yo1.1 mink are suitcible topics tor $mail tslk in a b\&s;iness situation?
Video
Wtty do people make small talk?
2 Colin Finn, procurement manager fora major British retailer, is visiting Jnfosystems in
Banga=.lore, India, lo dlKu" outsourclng some of the company*s back office oper.atlons.
Howwould you respond l o the follawing questions/statements?
Oiòyoullavo
a good fli.gnt?
Myn&11�is
Cofin Finn
lbrt long ha'll!
you becn at
lnlosystiNnS?
ls lhis your
tirst \lfsit to lncha?
3 New listen to the conversation and find out what the apeakers actually 'ff'f·
I
Myn3fl'ICisColinfinn.
l Di<il yoo h&-,e • good ffigt,t?
3 Are you satisficd with your hotel?
4 ls thls yout first vìsit to India?
5 How long have you been at ln/o5ystems?
4
lis ten to the conversation between Colin and his host at dinner and enswer the
questions.
I Wbat does Colin S'8'f to praise tt.& restaurant 7
How does Colin $8'/ that ht's not really intereste-d In vls.iting témples?
2
3 How does Ile praise tht food?
5 Listen to Colin es he says goodbye to his hc>st and fill in the ga,:ps in the conversattion:
• Sunil Kumarswami
Colin f"1nn
Il'\)
• Mr Finn. lt's ........·-··· ···-··-····· ........ _.• h&ving _.. ···-··*et lnfosyst9ffls. I do hope wo've ··-··-······
.. to -··
Yes,
·- with all the ioformation you need.
, Mr Kumarswami. lt's
fruitful
And d'wwlk you so much
• lt._.............·-··-··· ·····-···· .. G�,e rny .•.
-......
to yoor wife.
49
Globaizatlon and
intemational tracie
Busln&ss Skllls
Diversity
Rote-play: Small talk or deep talk?
Small talk,
big effect
Some peop$e dlsmiw small talk
as being a wasté of time. Far
hom i t . Small talk, as e-;ery
diplomai knows, has a crucial
ftJnction in breat:ing the ice,
establishing rapport Md building
long-term relaòonships. The
topics ma:,i sccm tti'lial. but their
effeci. is not.
A fawrite topic in Europe and the
U.S. is. of course, theweather. In
a business situalion rl is common
to exohange pec$0nal
infoonation. commcnts on thc
ldp just comple-ted aod remarb
An Amerlcan company ha& organlted a reception to welcome a business
partner from another country. One of you is the visitar, the ather an
empl oyee of the company rec.elvlng t h e visitar.
• Student 8JNJge 132
Your pl'ofile:
your ideas.
The situation: You hcwe just arrived and yout hosls have prepared a welcome party
reception in your honor. Yoo are go1ng lo be introduced to a member
of staffwho )'QU know has quite a lot of influence in the area of
sustainable business practices. You thsnk this person will be
imerested in your idea$ èlnd you are looking fotward to engagìng
him/h!Cr in deep con-.-ersation.
You think it is great to find pèOple who ca,e as much as yoo do about
the env/ronmenl and want lo lead lhls field In new dlrecUons. Voo are
aboul lhe food belng shared. By
e-ngaging lri smal1 taJk. yoo show
an interest in your business
partner and demonstrate respect
for their culture. This seives to
make )'OU f�I comfortable with
each other and set the stage f0t
futu,e business ,elationships.
Yo-u al'é an tni.ironmental tnginee,. You haw: bèen sene to )'OUf
compat1/s subsìdiary in the U.S. to work on a joint eoergy--savi.ng
project. Your assignmént is to genetate American interest In oow
ways ol eliminatmg en•,ironmentalli/ unfriendly prooesses. You are
lceenly interested in this problem in generai and cH'e well q1>elified tor
this � project, You are k>oking foiward to find�g peoplt who
share your •nchusiasm tor ef'Mronrntntal tssues. You love to al'gue
looking rorward to real dlak>g.
Your task:
Afteryou have met, try to engage your coUeague in a discussion
i
ebout dimate control and the neces,.ity for e gtobel in tiati'le to curb
global warming. What does s/he befieve a,e the weys your compa,,y
un becornt a for&l'unnier in ttis developtntnt? Probe deeply to find
out ,vhat your cotleagoè thinks. You want to show you, collcague that
you '/3Jut hls/her opinion and w0tk in thfs field and al'é lnteruted to
hear his/her views.
What conclus-ions ean you drsw from this role--play about cultu:ral differencea?
50
Playt'lotldlnc. is a mart.et fie&der in toys. For at least
twtntyytafs it has been outSOUfcing f)(Oduction to
Chì\a. a stl'ategy whlch bf'ought the oompany
enormous cost �antages. 1-bwewr, two years ago a
scandel broke when «ixic: t.e.00 levelswere detected in
lhe paint on various playse ts which had been
manufactured t1j a Chlnese suppli,e,. Pll)'Warldw"
forced oo recall moro ttian ten milioo itcms N.. the
same time othel' tO'/ compani&s. al of whom
outsourced procb:tion to China, experienced s!milar
problem, and had to make simlar tecall$. PfllJIIVOrld
was assi.ed by its suppliers that tNs would noc occur
ag&in � seemed satisfied that standards had been
raise-d, Then onty rwo months lawr a consumer
prote<:-tion organi'Ultlol'l l'e{)Of'ttd 400 caSés in which
powerlul magnets used in ...ariou.s roys had oomc loosc.
This was a cause, ro.- co«em. as me- mago&ts iwt very
powerful and when swallowed c-.an attract each other
and cause intestina! perforation or blockage. In ffie
case, children had in fact swallowed more than one
magnet and required SU'&ffl'Y, Parents ha•;e threatened
the oompany with a class aetion suit
Opinion oo the boafd 1s divided: thete are peop�
who feel that Lhe MadB in China label is now a liabihLy
and are pleading fora retum of pmduction to the US.
Another facdon thlnks that there should bé an
industry�de alliancewhi.:h would inc:rease pressure
on tre Chineoo gO\'emm<:nt Others feci thot the be31
poticy is simply to put moro prossure on the
company"s supplle,s. possibty with a S'y'$tem of
inoomal monitorlng, and
diti� aNkm ,ult A ctas:; fçlioft su!t
o therv.i.se continue as
is • form orJegal attlon I.o whieh •
before.
lar,ge group of people ""llb slmilar
iorerests sue • oomp.any or
o,pnJ:i:adOn.
•
J
'
•
,-
'
•
'
•
-
�·
Writing: Wealth through trade
Reading: 1s globalization good for
the people of the world?
1 Write :, short ptitagraph de$erlblng the graph you see
below.
Workmide trade voluroo a nd GOP per �ita
Read the two text& and answer tha questlon&.
28194
245'1
7401
Ylain Street Should
Embrace Globalizacion
8191
l
by Danlel Grtswdd
154"8
121
169
321
-
58,31
7445
1172 2619
1290
I_
3720 4550
__la_
1
1948 1953 1963 1973 1983 1993 2003 2006 2007
• T,ade Vollffi> {$b)
• GDP por capòa {$)
In,. (yiar)X�roour«cd to ., / itood .Jl ,.,
·- slightty more/le.sa than _,
·- appracima,:e� -·
·- r.?arly ._
,_just<He< ,_
·- �/in:':teasied steeply ·­
·- dovbled/lrlpled ·2 In his article Trouble wit/1 Trade Paul Krugman makes the
followlng statement;
·For the world economy as a whole- and espeda!fy for p oorar
nations- growing trade between hi.gh-wage and laN-wage
countries is a '/ery good thing...
Do you agree or disagree with the s.tatement? Write a short
euay (200·250 wotds) expreulng youl' reactlon. Un
varlous argument& and example&.
E:: Respondng to en .-gument
, ��/dl�e Yt1th _
A..il//Seoondly ..,
For e.xample / For instance
One ìnportan: fu<:tor is ,..
Moreowr -·
In &ddition to :he previous point. ihe:e is _
Uo,,,,e�·e< ·�
Althovgh ..•
On thc wholc ...
Allfl.ill ...
52
IO
11
Mlllloas of Ametfean fam.1lies beneflt from
free uade every dsy. Vie beneflt whene,,\ff
we btrY a t:tlrt of grooerics. a ncw shin. 11
F
' V or a <ar. Tbc rcceipt docsn't A)'. "Ycu.
bave sa,ed $30 (or $300«-$3,CXX>}
because of tmpon oom.pes:lrton; b11: 1he
savings add up to hundrods or bilUon.s or
dolJm cvery )"M for American houscbolds.
Most Amerlcans believe 1n competltlon. We are herte.roff when a
dozcn rcstaurant:s a.od a balfdozcn auto rcpalr staops oom))c(c lor our
00.Sincss iostco.d of only ono o.r tv.'O. Byo:p.mding the nWl'lbcrof
1)roduoers seUlnggoodsand serrlces tn the domestk miuket, ttade
safi:!gunnh and tntenstfles comp<,dtlon. l'he ft!SUb 1s loo.,--er prlces,
more varict)' and bcttcrquality fo.r trad.t:blti pnxlucts, Free traile is
I.be marbt15 tru..sc bus1er.
F'rec trade means we cao buy frosh cut i:ICM'Crs from Colombia in tbc
m.icklle of wintcr. along •·ith bsh truit from CbUe and !mb
\egecable:s from Mexico. Free trade means we are moni Ukel)' to find
the. s:ryfe and s1zeofshln wewant on the shehies ai department
.. ""'""'
The coosumerbe.neflts of \'a.rtery can be hardet toquantlfy 1han a
simp)c drop in prk:e, bua thcy are ju:.1. as real A 2004 1tudy by tbc
Natioool Bull!au of Economie Re-.seasch (WOO that tbe real iooomesof
Aml!lrican familiu are about 3% higher bl!IC!luse otthe g�.aitcr variety
n tbat lmports brlng. Thai mmsl.11:es to a r.eal gato ofSl,300 per
person «more than $S,OOO fora family of four JUSI from rhe
(:}l;.p!lodi.ng vt1rietie:; thllt t.rude MS brougbt to tbe martl'.etplace.
lmpons from Chlna have del1,ered lc,"iell' prloes on goods thai maner
1no:;t tuebe poor, hdping t o oltset olhcrl� in ou.rccooòmy that
:,, tend towidtn tooomc inoquality, A 2008 study found lhattmde ,..,ith
China bas belped woffset nearly a thlrd ofthe officaal rise tn mcome
lnequallty from 1994 to 200-S. l.ower pricesoo good.s lmponed from
China bave more tban compens.ited /or any dowrrward j)l'C$SW'C on
ICM·-sklJled W&gCS beca.u:se of U.S. �China tntde.
:,,
lmpllSitig àeep tarifrs oo i1nporu frosn Chinawould, of QlUrM, hurt
prodoocrs and workcrs in Cb.ina. but it would also punish milliuns or
Arnerkan consumcrs tbrougb higher pri�s for shoe-s. ckdting, toys,
spon-lng go� blcycles. TVs. radlos, st@ff!os aOO persona! aoo
lai:cop compuu,rs.
� lt would dJsrupt supplychsins throu.gholrt East Asaa, Invita
retaliaùon, and l@Opardlze sales and t)t'Cftts li::w-thousandscl U.S.
()O[llJll!IOies oow doins business with tbc 1>eople otCbina. Sançt.ion.s
orthe kind contcmplated In C.OOgrcss woukl �lsowiolate tbe same set
of mternariorul trade rules that membe rsorCong.ff!ss aCC11se China
u or vlolallng.
,o
We shOtJld insist thal our 301:emmcnt .i00fll trc1de poliçies that are
besi. tor moGt Amc rican.s, regardlcss of w hat cther oount:rics do. And
tbst means pursulng trade pollcies thax spread benefrts toth!!
wklest possl ble numberof Amerlcan� espedally the poor and
mld<Oe class. who bave tbc most to xain frwn removing the fìnal
n1mD.ining barriers thai separate us ffllm tbe globaJ marketplaoe.
Dllnlr!ICrawold: 1, tl-= OnllOro(lb. u,";rr,for IITd!lb&)'Sludlo
111i. Catolr,d/tJI 1n W,uàingion, o.e.
Thll 11nlda b on �u�, rro.. bis boot ,Vadllbcti't Tlff<k.· l'.f,y,"®1
SrlN1 4-'DI Shou/t!I flllfrr,,"1! G':mltml1wl, i2009J
Globalization versus
Community
40
4!1
)O
by llelooa No,l,crg,Hodse
:,
10
1s
Society toda.y is faoed wilb a cboioe
l,ety,·oon twodh-erging patbs. The patb
endorsed by gow!rnment and tndustry
leads cowards an e.�-er more gioballzed
eronomy, one in whiçh the di!iÙcn�
betwoon prod.uotr.s and tonsumers.
wtll c:ontl.nu.e to grow. The orher-pai:h ls
11'::h" IN.Hl rn,m 1111: sna:i:i1vw, 11wJ k:'11b WWlln.b ::iLNu� t�l
econoCIUes in wbk:b produoor-eoosumer links aro shorteocd.
The path tow:ud.s gklballzaflon ls dependeru upon oonrlnuous
govemment lnvestments. lt requlres the bulldln�p of a �le
induJStrial inlrutructurc. inctud.ing roods, mli$$ communic.ations
facilities. encrgy installatlons arA scbools {or spcdalizcd educadon.
Among other thtn.gs;;, thts beavi!)' subsldb.ed lnfrastructure alkM'S
goods 1ll"O!tuoed on a large scale and transporced long dlstances ro
be go(d at artifìdally low prices- In many ca.ses al kiwer prices than
go,ds prod""'d l""lly"'
Tltis is.a trcad that l ha.ve witnes50d in Europe O'\'CI the )'Carswitb
tho e,:pmsion of tbc Comroon Mari<et. and in Amcrice. .,,bere
10 ·ti188f!1· has klng been assume«110 be ·1>ee1er·. TrUIJons ofdollars
bave bee.n spent all O'.'et' tbe tndusirlal12.ed world creatlng:
superh.igbwcl)'$and commullJcations infr.-slf\lctun:s tbat facilitate
)ong,ditllan<:e tr.ui.spon, Stili more is bei.ng sptul oo highly
.s:pc:CU!li:ted oduartion dwt makffi po.ssibte and pn.lOHXts indu:strial
1s teichnologles- from sateltlll! commu.nlcatlons to chemica� and
enetgy lme.nsl't'e asrlcu.1ture. In the fast decade, vast sums of
uupilyers' moaey bave beeo SJ'ent on re3etlfCb for bioo:chnolOK)' wlth tbe alm of allowill8 food CO be trunsporlled even greater
distances, sur,•tve even gre.r.ter �s of pesdcldes and ukimatet)• to
lo be produCM 'h·lthout 1be tn:,ublesome need 1hr farmers. The ·unfalt
edvtnt419C' thesc many wbs.idie.s gh·c.to large-scale producerS and
ma.rkcters i:5 maklQi it ali but impo.ssible fllr f11.mily rmncrs to
oor:npete wuh industMal agnbusinesses, i:ir the s.mall .sbol)keeper 10
ClOO'lJ)8te with hug,e supennarkets or for all)' smaU ptoduoer to
;i)
0001pele with uwpcn.tiions tbltt w1 be lcx:attò wherever 11f'OOvçtJorl
Wtlts are lowest.
Large wrporate produa::n ose pven furthcr advant&6'(:& li),· policies
"'
tbat promote •r:ree tradc , Thc pemise uodcriying tradc: agroomcnts
like Maastricht. GATT aod N.\FTA 1s that \\"e wilt aIl be beuer off lf
we conlinue to lncMise. tbe dlstanoe between prod\ioers and
eoo.&umcrs, As a ronsequeoce, SpnnJsh ioa.rkc,ti; seU Oanis11 butter.
while Danisb st<ns seU bune, produc:ed in F'rance: E'D.IPand e.xpom
roughly as much wbeat as lt lmpotts; the ave.rage poond o ffood In
America m,,-.·els 1,500 mlles before !t reaches the k1tchen tabla. and
the total ttanspon d lscanoes of the mgred1e nts tn a p« ofGerman
yogurt lotal.s0\1!:r 1,000 miles - C\'en though 111 m av.liilablic within
50milcs.
Govenuoent.s IIJ'Owtd tbe world. wlboot exceplion. ire proO)Olifti
lhese tn,nds io the belid thut their «iling cwoomits will be cull!d by
throwtng themset,'es open to economie globalizatlon. lromcally,
these poUcles unde.rmlne the eoonomles not only of locai and
l'C(POOal oommunities, but e,-en oftJ1te oation-:.<iates tmlt 110 ze11Joosly
promOle them,
But there is t1n ahtmati\-e prath. a &i8nificaot oountr,r tl'l:nd thai.
des�•ile ;,i l;H;k of supptxt from g0\1!:rnmt:nt or indu5try. 001,tinues lo
flourlsh. Througbout tbe woTld, panicula.rfy in the industrl:tlized
eountnes, lncreaslng numbers of peopleare rec:ognlz.lng the
lmportanai of supportlng the local economy. And wtthm thls
çountereum:ot, attcmpts to link formertand ooosu.rnel'$ are of the
M �t�tsigni.0�.¼
11�118 Nlllte(tUOdge iS I.te r1'.lundetlM Oltf<tllt <itMJ�lfltlOOIIOI'
SM'eo ·pIAlll:c>' lffld�<ISCCJ • c.rOUfld=.t «.the JMtffl(1Wnot
loru,n '" G'o6mècrlll.l't (!FGJ
Aooording t o Griswotd, how doe$ the çon$umer benefit ffom
free tr&de7
2 Aocording to Norberg-Hodge, what harm is do11e by
gloi,.,lization?
How do the points of view of the two authors differ?
4 Which authOf doyou think has the best arguroonts?
Write a paragraph ol 250-350words: explaining wtty.
3
Web activity: Researching trade
policies
Use the internet to colle et information about the current
trade pol i<:Je.s of:
the European Union I the United States I China I India
Do these eountries implement any proteetionlst measures?
Youwfll find useful information in Engllsh Ol'l the websites of the
IVofld Trado Organiutlon (WTO). lho lnromark!nal Monotllf)' Fund
�MF). the World Bw. lh• C/A IVIYld Factbook, lh• BBC.
53
Products and production
Leamlng Focus
• Oescribing manufaet1.1ring
ptCO!&.,el'I
• T�king abcvt prodool
spediiettO(lflt
• Presenmg a produci.'s feaiurc�
functionalities and specific.ations
Warrn-up
Match each diagram depicting a production method with the correct descrip:tion of
the prcxess..
St<ir• 11)8CO IOt
fir.lsl)z>d P3rts
Stort11gos�ror
input ma-:enaf
°""'
Self Study
i'ltal:t
• Thé! p&$�: 1a!king aboUI 11lep$
� prcxjlJctlon
• Wh�t can yoor pnxluc-:: do?
Choo9! the right ....'Ofds tor
pro&eotflg a product
• Paet p,erfect 0< simple pas.t whe.o
dKI it happen?
Upstrt8111!1 11roO.-.Sli: (I $Clies nf
openitloas perfom1t,."I
Shape.
liYm 00' lmprwc ma1er111! 19 ,nakc tt
,t00y (or�bly
-·
'
Flnlshed pirts
a
This pìoductiOn method is catlèd push
production rnethod, lt 1s a
con�ntional production system in
wl'll::h ltems ate manufactured in the
largest quantity p0ssib1& in the time
available, Prodl](;(iOO is bascdon
expectaoons end projections.
54
This Productfon method is catled
puU productlon method. The
finished parts stOte is finked
dirée:tly to the customer. Ot1ly
those parts thai have been
puled out of the finished parr.s
store are assembled o,
processed. The finished pa,ts
store balances fluctuallOns in
c:us1omer demand.
This produ,;tion methOd is
calcd productlon in
sequence. lt is a lower 1-evel
'°
Ouwn.Stf'f!lflll'I procMS: a series ol
op«ation$ peri)rmed 10 mok8 a.
ftn i� produa
a
..,..
Input matGrial
.....
lnteml
form of make-t=d�r
produ-ction. The final
Processlng stage and detivery
are synchronized so there i.s no
need fola fhished parts- store
anymore. The fil"laf proce-ssing
stage of a particuf.ar produ:t
starts 'i'l-tlen th& orde, fot this
comes.n.
What do you thlnk the adv-entages and dludvantages of each of these ptodu,ction
methods could be?
Ustening: Production and its management
1 Match the following terms with their corre et definrtions:
a
the total number of people who "''otk in a particular
2 w0tkforce
b
company
an inperfcction in an object o, a machinc
3 hwentory
e tht pmduction al'éa of a fac.tory
d all the goods available in a store at a parricular time
lead time
4
e
defect
5 shop floor
tht perlod of time betv.-etn tM inltiatlon of tiny
..,-uJu.,;tk.111 1-"Uet!all d1Kl ti ,� ..::umJJli:idun u.f lhctl
process
2 Li stento the radio progr,m In focus featuring a professor o f p.-oducdon operations
management Ulking about l'tcent developments in produetlon system.$, Answer the
�
questiona below while you are listenlng to the interview:
I Wt-ry is production important for the economy?
2 What is lean manufacturing?
3 How i.s waste define<t?
4
s
6
V/trf has it been so diffiruft to implement lean production in Western companies?
What kind of skil!s: do wortef'S neéd Yfhen leao pfoduction ls praccioo<I?
Why mighl Amencan car companles g o oul o( business in Lhe near future?
3 Listen to the interview ag_ain and concentrate on answering the questions below:
V/rite OOWn the different types otwaste. Which type is mo,t importent in the speaker's opinion
&lld wtryl
2 What is the Japal'lésé ap,mach to impf'().ling fts!Ats:?
3 What are the ehaltengesin production tod wy?
4 Research the different ty:>es of waste.
I
How does waste o«ur?
2 What are the oonscqucnccs of ig,noring wastc fOf a
çompe,y?
Reading: Birth of the cool
1 Match the words in the b,x with the correct pictures.
asoomtJy I ne • t.arccdc dcc4 •
corr.,,�/er belt • mold • nllt6
bo«ts
�oo
---.\
55
Products and production
2
How would you describe a typlcal foctory? Would you agre e wlth the followlng st.a1tement
made by a former factory wortcer?
"l've worked in a few f1Jctories in nt/ Iife and hlNe hlJted «. I WIJ.S mo.st.f on 1Jn as.sembly Jine doing the
same tepetilfve wo1* 8 to 12 hours a day. Sod!let a wlNYe I began to lose mygrip. Somelimes I had to
work in extremely hQt orcolo·conditions and the r;onstant nois.e required earplugs. At other timesl
hod to wea,- an 8pron. gf<Nes, boot$. hairnc: and omcrgoar to f)f()(«( thc pr<>dllCt or myseff /rom
chemicals andsuch. I don't t/Ji,,/: human boings shou/ddlJ foctorywork a.il)tmo,'e. Tflo/ shO<dd bo
repl;,ced by robot.s. •
3 Read the de&cription writtan by a journalistwhowatchtd the pr ,ocen of manufacturing
refrigerators. To what extent is the statement of the factory worker from above
confirmed in the text?
Birth of the cool
.s
lo
�
2<1
u
,o
:u
56
,o
Yesterday, I saw a refrlgerator l>elng
born. ACIUIIII)·, f !)8W thous11nd$ Clf them.
In ali stages ofoompletlon. I s1>eot the
àay at tne Mal>& rctr1gorator tactory fn
Ce�ya, abOul lhcoo hOurs Mrlh--1\éSI or
Mexico Cily . They �re kind enough to
18t too in as the compan)"s lil'lé ol
business isoneof lhe few in whfch
Mexico 1s successfulry competiog with
China on manufactur1ng.
A k>ng s1001 sllOOt wttb some des1gns
on tts Crlogos sUdes lnt<> a machine
oomprlslng two huge paddles.. Thè
paddles go up and .. . two dimension.s
becorne three. The sheet, fl.at a splil·
seoond beforo. now resembles a smallis h
metal l'.leteaor - a U-shaped block. lt has
n o functlon. ontr a skeleton ot form. but
tbe thlng looks Hke a ren-tgeracor.
Elsewh-ere in t his sp&&e, ronoos or
pel'etized plpstic are being melled down
and laid into s.heets. Ttuise s.hE!ets: am
then smdced and lefl to oool fqr a 00(.lple
of days untU they roach room
iemperature.
TMn 11\èy go tléCk ili lM ir.'@n. Tllèy
are beatoo ror 30 seooncts th8n pass8CI
down a conveyor belL Thén a massl\•e
mel;al mold ptJunds into lheshea. A few
seoonds 111iter. lhe plaSlic . cooled o.nd
harclonoo. comos romng otf anà ls caugbt
and set aslde by a wol1<er. Up to tMs
polnt tlle whokt process has ooen mosti)'
auootnatèd.
Next srep!the inside oflhe fridt'E! is
fiued into its rnecal extenor. Wires are
ducHaped Il) the bar.k and a ban:ode
àec:ahppJied. The ba.r oode is sc..inood
aod.1n anochor part ot the factOI')'. tttc
àoor tor thls partlcular n-iage v,-ilJ no�\
start lo bé 1nade.
An intrica1e
array ol con.,,-eyor
belts son.s 100
.u 1)nxo-rr1ages b)'
moctel. an<l U'IO)'
go lnto a g_iat1t
enc:losed building within the factory. lts 80 the sim;pler ta.-iks {more men than
women here); some perfonn more
purpose i$ ,o contain the potyetbylene
complicated tasks manuall)'. I doo't know
:io foam that ls lojeaed bG1:ween tM plasuc
wh.lch pan to be more amazed b)': the
and the meta� whtch hll.J'OOns quickly
and glvos lhe rol\'lgorators l)()(b rlgldlcy
robots tbat aa atmost as pe-opl8, or the
ana insulation. The now.firm rertigerator 115 poopm wh<> a.et alm0& as robots. rm told
lhèy change jobs on lhe asse:mbly line
shells roU out of the l.luilding. Here is lhe
"l.>eginn.i"t:Oftheassembly line.
ewry s.b: monthS to a-.·olà borooom.
Afte r Iha fridges o:ime off Ihe
assembly line. 11bout one in e-.·ery 20 is
From lhe mc,ment the refrigerator sheO
<1f a retrfgerator starts lts way down the "'° pullod off fortestlng.Sòme oflhem aro
àropped trom a b8igh.l, wllbin tbeir
ass8:mbly un• to the 1.nstant lr oome:s on,
seaJed .and oushioned in a box, rour
boxe.s, t o tost the packaglng. Some are
put on a vibrating, grated noor to �
60 hOuts and twen[)' minutes pass. ·1 Ms is
tmale I Ile trauma ot a truck trip.
Lhe crociai figure.
The other nccable number. e,·ery 26
s-s Elsewhere there is an amy of
refrlger-ators. llned up slde by slde.
se<:onds. a rerrigerator ro11s otrthe llne.
Out lhiS gi\'8lS fOU lhO wrong 1doa. Il
which h� aut()mated metal �rms
openlng and slammlng 1001, doors sllu1
" soul>d, so ,-ery fast. Tbe Une. thougb, ls
every three seoonds orso. The goal 1.s to
slow. 'l'h.& l't'kSges move at maybé a lhird
un test IM h.ingéS, and simulate Lhé
ofthe speéd ora slow human walking.
opening.'i and clO'!ings thai ,w>uk1 takP
al),cxrt lhe pam ofthe proverbWI sn11il.
The measured creep gh'e:S wolicers
plaoo overa len.year ure spQn.
10 time 10 put in the QOmrn.i:c,;sor i.md the
11'.s a sen..,fble test, and. every time a1
home the fndge opens and doses
motor. to lnser, the sheh'es and Ughts, to
anach tbe door and instaU tho 1ce,maker. 10, smoothly, l'm gratetul manufactu.rors
h3\'é té�S llké tbiS. The <IOOrS ate
to screw in &ach nut ancl bOlt, oné
systemalic step al a limP..
slammM just hard eoougb to suggos-t a
tt Surprisi�ly, lhnl�quarters o f l he
measul"é orrrustnuion, and I can•, help
but wondP.rif e,'f'n thf> rohOls have
wort<P.rs - 11round 3,000 people - arn
women: many ofthe men from t.he area 110 grown boreà.
havo gono te> work In tbc Unltod Statos.
SOIJ\é operate maebines lhal automate
-----,...-----�,·
4 Oesc,ibe the manufacturing proces.s as outlined in the airtlcle by completlng the flow
chart.
The production process of a refrigerator
A bng stael aheet
Peuedzed pla&tic
The eheete are
l��---<--) - �)
ì
5 Choose the rlght verb In the correct fo,-m from eoch p.atr In the box to
complete th-e gaps.
attach/scre-.v
appty/fit
i
coml)f se/contail
1
2
3
4
sort/slack
�
"'"""'
V$tb$ � In ptOtil.lC(IOtt
Gramma
ins.:all/insert
The apartment .. ............ .. · · -··· a mini-kltchen faclity and an en.s1Jtte showes/WC.
The home imprO\�rnent guido shows )'OU how to _....... ·-····-..-·-·· tOO sholves to tM wal.
lhe ear mechanic a<Msed me to .....- ..-·...·-·····-··- new cables and a new battery in my van.
Containefs are stowed by
them on top of each ottier to make full use of the
loading capacity.
5 By ..... ...·-··-··-·· .... a thin laycr of ca,rwaxoo a regula, basis, )'00 can protcct your car from W
rr,ys and din.
Discussion: Can business expertise of the
20 th century still be applied today?
Rtad the quote below. Thls ls the philosophy whlch Henry Ford put lnto practice in hls
own factorles. How wai thls dlfferent from European automak•rs? Can it be applled
todayl Il co, In whleh branehu •nd lnductrlec?
"There is one rul e for the industrialist and
that is: Make the best quality of goods
possible at the lowest cost possible, paying
the highest wages possible."
HeruyFord (1863-1941)
57
•
Prodllcts and prodL1ction
Business Skllls
Pres-entations: Presenting a produet
1 lmagine that you are doing voluntary worlc somewhere in a remote area in Africa. What
kind of comput.erwould you need? What problems could oecur?
2
At the exhibition Educatinr the worfd in 2010 in London the eapabilities and
functlonallties of the LO laptop were presented to business leaders and educators from
developlng c.ountries.
llsten to Mare lyons' presentatlon of the LO laptop and answer the followlng ques11ons:
1 \Vho is the product for?
2 \Vhat doe$ the prodm::t pf'Olide?
3 Where would the product generalff be used?
4 \Vhat maloos thé produet uniquel
e
3 Llsten a;galn to find out mo.re detalls aboul thoe product's features, functlonalltles and
specifications. Use the mind map below .
�flt;.P,OdilCt (&,:.,..$8f\d
"*lfloflJOfl,
Skills
..... . .. ... . . ........../
\.
..
---�==-�.,,:- ...............................
V-
................................/�=�---Scroon
Battery
...... ................. .
./
O.....,.ty
··............................ . ..
�---'Ae=P"aa°""""
=a=-....
··....................
Weight
·..... ,.........................
•.
·............ ,..................
.
.
. . ....
...� .... ......... ..... . .
.
...� ............................ :.:,
·.
58
Fu11Cb0118ity
,:.................................. .
Business Sktlls
Presentations: Deseribing a produet
Choose one of the �readers and describe it to your partner. Compare the products in
terms of readability, data input feeture, storage c apecity, si.te, weight and price. Then
discuss whether you would use an e-reader for reading and if so, which of the two you
would prefer.
I
Skills
E-reader: Klndle
__
..._ ..__.........
_..,
_____
.
...
..........,.
·-·-·-............-·_
---·----........
_
......... .......
.. .. _-. ......
........_
·...............
·
---­
_
.......
...
____
_
.. ...... ......
..
--M
---�
__
.,.,,.
____
_
_ .........
--
--- __
..- _
,_.,,. .._______
,-i,
,. ," '"'
,:.-.,
Manufacturer.
Scl'ffn:
Operatlng system:
Input:
Momory:
Notworks:
ConnectMty:
Battery:
Physk:11 siZe:
Wolght:
Pric•:
Amaton.com
6· (tt>cmJ diagonal
600 x 800 pixels
Eleclronic paper display
Linux
Séle<:l wheél, l)QX'I/ prav/bad: button
2 GB (&«age <>f ce. l.500 non--mustrateo boots)
AT&rs lntemational network
Wirnless modell\ use 2.0 port,.
3.Smm sterco headptlono J8Ck. bullt•ln speaker
3. 7 V Lithium polymer
16t>x 114x8.7mm (WXl--lllD}
1708
$89
Writing: Product descriptions
1 Study the specifications and functions of the handheld BrailleNote Apex and the
complementary GPS Trekker Br*9ze. Then read the product de:scrlptlon from lhe
company's website on page 60 and identlfy the product's USPs.
BnilleNote
Apu 32
Features/Spedflcatlona
Wotd
Proce,.or.
TranslalE! bel'Ylwn any gf'dde of Braille and (exl rounals
including Microsofl Word, then ptint or eml:oss any documenl
Cf sttach Il to an ernall
Streaming
Audio:
Enjoy listening lo in'.ènli!'l radio
p,og,ams that use MP3 a
Windows Media formats.
Sook Roder:
Pe8d books from 8ookshare, RfS&O, Auct1ble end numeroos
ottler sources. Read Braite or texl f0<mal$ in your preferred
grade of 81ai11e. EnjOy listening lo audio bootsaòd take
actvantage otthe powerful OAISV navigatlon features.
Keychst:
Communlcate In rea tme wltti
col!eagues, rriends and f.amily
usmg sta�r-the-art instant
mes�glng (IM} setv1ces.
Web Brow,er
and Em,11!
Surfthe Vie-I> - do online researcl\ shopp{og and banl:1ng.
seoo and l'ece�e emailS. and stay oonoocted via your
prelerted networl: conneclion.
Vole:• Memos:: Record �c tures, ciass no�s al'ld me-mos, 11\M instantly pi�
them t,,,ck from an:fNhere ln Ke')'Soft wttt. , sillgle key pre"'
M•dla Play.:r:
-··
T,.kker
143,c: 244 x 19mm (WxJ-fxO)
812�
1.lsten In stereo to MP3. WAV and W'trtt:JCNwS Media liles and &
number of other formets. Create pl11yllsts:. enJoy Internet radio
e, mUSic while rèacting. e-mail� or surfing theweb.
F•atur91/Specfficatlons
Si •l'land operatioo with large, dis.tinctNe bl.4toos
Oirect bunons to functions and intuitive intertaoe
Oulckvolome a<!Justment wil!I 1"Jiome wheel
Buitt-iA highly sen.sitM! GPS
Buill-iA spei!)er
Secondary extemat !f)eal::ét
Buitt-in human sounding text�e>-speecll
Elght hOuts of batt-&ry tlfe
lnteg,ated help
Shookler strap and canying case for se-cum transportation
SVe: 1?5x 50x25mm{Wrllx0)
- Welgtll: 198g
59
Products and production
Business SkJlls
I
DI
Huma'fiware
Home
lfT!·ffti\j
::>uppon
I
����-,
s-n
tiubset1be I �hop
I--
At>Out ust(;Ontacc
&.illeNote ,\peli.
Human\V� m.1rla 11ie 10th �crlM &::iiil!t-lOII:! by
launchl11g • new 1 i-cell vttelor , ol lhe 11llt»-hl\ '-'tr8>1tgit
&alteNo'8 Al)«l - a powerlul �laker �r,o, 61ud&nlt W
�a� who aro blhd.
lntdlig,ml �ts i, por•rn:x.rt in� cbign of tbc 8uileNotc
r
Apc!a i.-oo and u!l\ll'K U$Cfgwrhligh po�. c.orrlcrt n
1110,11)', Al on,y 2<.m (0.78') thict t,fldweighhg jutt 734 � (1.8
lbe), 111& &triill&tlOlii /t,f,él 18 it portal)I& and all«dlible. Tht pori>t.hr Apell luh-itd 8,alle �ard ,�
no111 tllt:ing � lll'ICI Mlly. ..,,t,k Hum11n',¼re'• 81J"tur111; ltw.rnbk$)!$ mal:e, 11.:..-;,- fllacil!Q 11ffoni..
ni. aoçi"fl'ltd Y.N,Sott tull$ of�tiona. NQh COft1)1.'1r'l!J powe, #ldmulll>*e &tQf1rQe opaloftl<klrflf tt,.
BniloND* Ape 111'1 p!Oduotirit y .--.Ck*I •• 8 GB or irwnoiy wld 111ppo,t tor hi;ih G.lpldty SOMC C"Md1,
r01.n tigh·spood USB 2.0 potfS.b11IHn WiFi. E1hc:mat and BluolOOlh. �spoc:iaimd opions iddt
SetldeJQ GPS, lhe Coocil:sl:! O.IOfd Oicllronary Wld Tlwnu:1.11:1, Nt-m!:!th Mdl TulllfW trnd ffWff rru" look lhel
ht:lp �l'I ,� teamil"lg n:I con:;,u, lo � f:l'ole$� �1uor,,..
ft�BNu-•
Hufflén\Var• introcl.loff 1M � limple end elfonbl)le GPS for !*)Pie who ar.'MUdf n"pllitfld, Atalmpte •
your TV r.-not,, ltw lRekket &Na hemdheld llllking GPS can be controlled byone hancl. lt nrile.ly
IIOACU'ICC5 n:mc!i ol $.11«'1$, nCi,ocliom W kindmorb ll!iyou W'lllk. Non� lo s.1op �cr..by te know
whc� 1'°"' ue-'li""'7,.-•bullOf\Vld Be«-;cc � 'JO" r- loOOM<'I O<'l lhc Of)l)t. ""°"' Y'°" - 1,-.
\._.iol., Bre11ie anncu,ces lii
atl(lowng -p; IO 8161 wheri you �
•IMC!ion•.
2
How don the produet descrlptJon engage the reader whUe .stUI provldlng aU the
neceuary technlcal details?
3 Write a similar product description of a new navigator based on the lis: of
specifications end functions below:
'
Navlrama
FunctJons:
Functlonallty!
h.:gh-6en.'iitMty GPS ieceNer
reception possible in deep c.aryoos or under
OO!V)' C'1/8f
- easy ,ouctt-sc:reen ln-.erfaoe
�
- te.x.t-t�spee,ch �h �logy
NJatures:
�
---__,
Wil-iu 30 I.I� lll�IHUIU
updates every lwo years
u,s. tndj.ll>, rn:<c:
FunctJons:
user modes: 4m,.-.g_ boaUng. cyc in,g and
Witlking
Wherigo player (pron:ivnood: where I go)
e
mrvi'�tion �ith Navinirna Connect Photos
Prcduct deec�
h oomes with -�
lt's (•asy) to handle/ope-rate
1t oonilmes -· wih ...
ti is desigfled ro •..
Il offe:11 ...
ft �ICJtf$ ••
60
using pictures from Googk!'.s Panoramio
photo--.sharing community as a guide
i
expect tt.l!s. mountalns, foresu en(f other
natural k'aturcs
tt oontoìn$ ...
kimprowi_,
muttimedia expei1enoes il'l lhé real W'()(ld
(e.g. treasure hunts, historicaltours)
topogrt1phic t(t(ta n maps to ttOi\' woon to
30 totrain maps
tt is eqtiipped wi:th -·
tt l)f(Mde-t -·
for creating i!nd playing locaticn-based
Specifications
Dlsplav:
Resolutlon:
Averege bettery ltfe:
Dimensiona:
Weight
Prlce:
·-�
3.ò"
Res01ut1on: 320x 240 pb:els
107x 85x 23mm [WxHKO)
215g
$200
88ck in 2003 Rio Secoo, Texa� wa.s a town th8 t had
seen better days. Once • small city or i00,000. it was
suffering from unemployment and, with people moving
ilN"f to fìnd jobs elsewhere. a shrinking pcpula tion. In
an effort to ettre-ct investors, the city co,mcit p1,1t
togedler an impressN"e package of grants and
$\Jb$idies which inclvded l.and, money for worker
trainiog programs and millions of dollars in tax etedits
spread ove, tht next twentyyears. lhe pack.agewas
effective. A/amo AppNances Jnc., a major manufacturer
of electronlc good.s, set up a plant there andwithln
the next 15 )lears became an important empla,er,
uttimately payrolling 2,000workers from w1thin .a
radius of 50 miles.
Oetplte fornign oomp@tiùon.A/al)!<) Apf./nneoi /ne.
has rcmained p,ofitable and competitive. thank:s
to a nuni>er of niche ptoducts. Nonetheles.s. in
anbcl patioo of fncreasing competition. consuhants
have :adln.sed the oompany to sh1ft pmduct1on aver the
Mexican border, where wa8C$ are only a fifth of those
in the US. lhls would mel)n consklerable sav,ngs and
guara.ntee the oom�·s profitabitity in the long·te<rn.
On thh other haod, closing down the plant io Rio
Secco will provoke an uproar in the city and a
back�ash from the unions.
•
Product presentation: Preparing a
flyer tor a product
Choose a product you like and research the te,chnical
20
detalls, Then wrlte a flyer to promote your produet. Make
sure you r flyercontains all the re levant information on
fe.atures, appearance, specifications, functionality,
durability, price, etc.
Have
25
a look at the lìsts of adjoctlves and attributes and
integr'ote some lnto your te.xl
Power odjectlves
att0<doble
Oownscall.ng eq·\lals dowru;tdug
exoelle-nt
aU-in-one
exciting
benefiçi:ail
brand-new
handy
rlnovatiw
compacr
corNenient
ife-ehanging
pracbcal
durable
easy-t1:H1.se
reliabl&
time-/lif�/money-saving
efficient
!.l'lique
,o
,s
,o
Buzzwo,rds to &park u p your product description
cutting-édge technolog,,
ground-breaking idea
higMech soh,1tion
key feanxe
major breakltvough
i
potet1t al b&nefit
practical sotution
revofvtionary idea
sleek de.sign
state-of•the-3rt techno-togy
,:.
downscaling
,o
RHd the• h!xt and answer ihe quesiions on page 63.
Greeo �dgn calh for ama.11 lra:prowmeou a.cross large
,-ohnnu and fo1• redoclng che resouroes, m:ue-rlals anc:S energ,'
I.Ili-I� in u1r,>tluci5
"
Open any magaxine: and )t11.1're tlkely to find an. artlde: on. hCM' to go
green. Tt.e Web, meal'M'hile, is aW2sh in. susralnablltry sttas. An
eQneit6M i.s furming. aod de.sisnens ,md m1111uracturer.san:
movi111 quickly ioadai-. But while those of us on the suppfy sidt
can srart to dielJver greene.rproduas, 'l'll c.an·t control demand 1-kM•
quiddy wlll oons:ufD!!ts adopc our green productsr
10 WhUe chete bas been an bnpresslve sblft ì.n consumer
ooosclousness, tbe trutb ls th3t c:onsumer habts dlange gradually.
ForthiJl matler. il takes time lòr new, greener cn.:aterial.s lo beoome
tn.dy o!fo-rdable. Thi11 means deslgnenand our COl'Jl(lrale dicou
nee<I to focus tesa on ftndtng a kUler green t&Chnology or .selllng
I$ OODsume.rs on gn!en produa:s,. and more on the small design
éhange,tbat can make a lar# (mp11d: immed:ia1ely.
62
s
Ca li il cbl-nsc1111 "-S. adesign approar.h t�t rocuses on a produa'
materia) and encrg)' u.se. Oownscaling entails sm.all, c:onsi:sccnt
impw.-emonts across one (or moro) ofthroc dimcnslons; sizc.
fe.a11.1� and klnge.,lry.
'lilkfng sire first, look a.round and oou.nt tbe number of t bings t bat
are Just plaln blg. The SùV ls the most promtnet1t exampleof
owrstllng In the
ben 'l''i! als,o love hf.g ,wer)'day ltP.ll'IS. sur.h as
spacious whcclod lugga.gc whosc cvcrstuflcd r.ontcnts help
locrcasc jet fucl c:onsu.mption. Ourculture rtmoios dominaled by tbe
Idea. that blsger Hl; bener. And these CM'!tsl1ed produas nr.t onty
f!X-pend men mMerla.l, rhey also tnr.rease shtpplng 00."ilS and �UIII
$J)30f!.
ru.s.,
F'orn,n!!l.ely, 11 go smafl 00unt.e1'-1ffi:nd has y1eldèd Sl)C(@Sses, pl'O't'Iog
gre&I df!Slgn 1rumps blgger-li.bf!11er rhtnklng. Sa� ar srMa.fflll ned
ixefab boosiog are rising. and the revmped Mtni Une by BM\lf has
elevaced tbe compott c:ar. lo ead:i ca.se, ardakeas and design terams
ha\<e mreued s.lze optlmb:ar!on as a key crllerlcn of a 'l'llll--deslgned
fX"O(loct. WhJl,e thie!'lf! l'lght-stzed p:roducti mtght represent nkhe
mari<ets wxlilf, thc tn:od li nes are citar.
Kcdocing featul'Cs
Reading: The benefits of
s
Llesign teams work witb the th.ree basic building blocks of
sustalnabillly: reduce. reuse a-00: recycl.;. Much has been
acco,nplt�d on 1he •�)'C-llng fn;.ru, and e-.·tn teu.'lé'l basa IWJ\�-found
footi� • wltnoss,eBa)•, CraigsUst and cenitied pn>cwned cars. 8U1: it
1s time to get serioo.s about rodudng. For compa.nies. the probl9m is
tfulr tt'sdJft1cult t.o rhrtve In an. expandlng g)ohol marker by m1':klng
fe"'.,r pNXluCIS, at1d lr ls hard lt> make produr.t$ uslng fi!'1o'lH' natural
rcsoun:es. For designoI'$. weU. we 10\•e malcin,g oool stuff. Reduc.:ing i.s
al.so diff.ic:ult for oonsumi,rs 'l''ho bove learned that variety is t�
SJ>lce of llfe. Bui 11he faa I� oftbe three bulldlng bl!icks. redUdrig ls
the mosa d1rect. Wha.t green de.stgn need.s lOda'}' 1s n0< a Sll\er bullet,
but 1he slmple notlon d small tmprove.me.nts acn:au large votum�
(,(l
w
The i;eooad way 10 dO'l'o·nscale a product is to reduce felllJM&.. Most
oompanies add feotures as a wa)' to stand out !rom theiJ competiti on:
markf!Ung beilt!W!s new fearuru aMthi! k8y to sales. and RII.O
belie\--es they a.re. 1he natural ou1come oi 1echoology. Of c:ourse, Ile'.\'
lunctions cao be wondcrful. but 'l''e bave a.Il cxpcricoced Kla.tur.c
<M:rtoo.d,a s bnods including Son; and kitachl tT)' lO 01.1.ducl onc
aoothcr.
Apple's i.Pods. whiose minimal intcrfu.o:,s rcdcfincd digitt1l music
�rs. bcgan 10 cbangc tbat garoo. tbc 1CQCnt swoess d Pure
Dlgllal' s Fllp Vld:!o Ultra camcorderoontinlf:!s thlS rn:nd. Smart
Design led a 1eatn thai dJSOO\E!red Ihai a;p:W"fng memnrles ea!dly
wa.s wbat I005't pcople reaily 'l''lUltcd. so we dropped a.dvana,d
l"eatures. io favor<J.r ever)·-day niooties suchas ooo .iooch uploadln,g.
single--handed tJSe and pocketabUlr)'. Curtalllng le.arul'l'!salsc>
lmprote!t 1he abillry 10 recycle B pmduct, heca.use tt!cydlng relles o n
th1' ability to el'ficicnlly .scparute a product into it.s indMdoo.l
oomponents.
Web research: The ideai business
1s
l..ongevlty ls tha thlrd frontlerfordownscallng. In 1'.hts <8Se the goal
is IO nidu� the product replaccmeol qde. or sitnply &ated, to mako
a i;roduct l.ut lonf,'!r, A p:a.l e.,crnp)a.r is Carliartt, whosc hard·
wearl.ngdochlng and no--noosense lmage made lt a standard for
trade.s pe,ople, fanners and outdoor enthusaasis. Tllle undiersrated
imagc bis propeUed tbe braod to r,cw levels with you.ng aduhs
focuscd oo buie values. Oftcn crit.icited as noetolgic,. durable thiogs
oonserve. raw materlals and encou.rage can! and pre.servatlon.
'°
C):viou.sly ma.ny oompaoies \'iew long,:vity as an impedimeot ro new
ss!es. But new stt'3ieglescan help manufacrurers susraio tncome
wtthow: habirual replacemenL Hlgber mrglns oould be sought:
today we see Ibis prlmarity In hu.ury markets, but -what lfthe bar
"''ert rai5ed en mssc?
10
locatìon?
Us.e the internet t o find out which industriai goods are still
produced In your town or reglon. On the other hand, tire
there companies whic.h have outsourced all or part of their
prod uction? Can you find out to which countries?
Writing: Respondìng to a
company's outsourcing pian
Dc$igni1'& &11&tairuibilit)'
'6
to
t5
Just a.sdcsWI mQ\<emcnts such as crgonomicsand intCJ'llçtion ca.mc
lnti>e:tlsteooc through a occd to addrcss important am:t relatid
factol"S coUealvely, downscatlng can evolve a� an expertise wlrhln
t he design lndusrry, bene.flnn.g compan� consume.rs and Ibe eatth.
Today. oodes.ign team would think ol n,ltasing• produci "'·itliout
�k:ingthc tirgonomics. Gl\•en ourenviroome1ntal situation, &hould
we i»ndnue to release products wxboot anempdng a>dcY.\mcale
tbemt
Renewable maierlals, recyclln,g and lmproved production methods
are mtical 10 analningsusralnablJity, bur are ncc enough without
lìndlog W"l)'S to reduc:e 'i'hu.t wc produce a.ud use. DINosçaling
doean't oeed t o ...,·ait tor pe11unenl n:gulationa or new tedu1�·
we t:and o it oow. Aod. as designen;, we don't evto buve co stop
ma.kiogoool Etuff- as long as we J.:eep i In chect.
Wtry should desi gner s and manufaclurers ooricent/ate more
on small produci changes when golng green?
2 To what extem have the three elements of SU$tainabi.lity
already been accomplished by designers, manufacturers end
consumers alike?
3 \'/l'lat have d&signers and manufacturers afread,j done to
t&duce f)(odvct sfze? Does the author thln.k t.hat this is
.suffi:tent?
4 According to the artlcle, will manufacturers warm lo lhe idea
of increased longevity of a produci? V/hat strateg.ies does the
author suggest?
5 What is the author's conclusion?
Choose one of the following writing tasks:
You are the CEO ol Al8moAoplianc8$ lnc. Write a confidentiat
memo to your board explainlng why you have cledded to close
down the plent in Rio Secco and mcwe PfOduccion to Mexico.
2 You are the local union officiai representing the Fllderaticn o!
Am9lican -1Vo,ke1s. Write an e-mail to your senatOC' explalning
the situation and appealing far help.
3 You are the edi:or+d'lief of the loeal paper The Rio Secco Surt
Write an arlicle criticil:ing the plans o fA/amo Applia.nces /ne.
63
I
�·· /
Marketi!!_gJ
.
[
){
r qotijrnyn'ic�tions
Leaming Focus
• 0.Seunl!'IR m.:irketmg strategies.
usi'lg the protessional 1'0c.abltary
• Gii.tlg cle.,r Jnd well-$tnicl'ured
p,e&en lbtions
• De&igni"\t 'Jisuals
Warm-up
How much do you know about marketing?
Tick: the best answer to each of the following questions.
Which of the foUowing is not an elerrent
of the classlc marketing mix?
O Packaging
b
Piace
Self Study
•
• Creattng d1de6
• Omotffiers:rome.s/otofor
Ml� -111)' matbeM&?
e
d
Rebecca hc-tps Harold prepare a
presente:ion on the /(lrstr14tiM'II ,�
Climb.hgre.JJ.wl for the pote.nial
,po�. �e,. lhe nlght bdore
tho p,csc:ntation .t trcak aocldcnt
OCCUf$. \\f,11 the p,ca:nt11tlon be
ablc to go ahcad at all aod if so, wiH
ti.e �sora be persuaded 10
oomnit 10 the ewnr?
o
D Price
D
o
Product
Promotion
2 Which of the following is n-ot a form of
marketing communlcation?
•
b
e
•
d
D Advertising
D Psckaging
O Persona! selling
U Public relations
O The inttrnet
3 What would you say is the best
de1inirion of a<NeJtising?
O a notice or message in a public
piace offering a prodt>Ct or
smicc
b O actlons Utkoo to Jncféase lhè
dernand fora company's
produets
the acbvity of atuacting the
public's attention t o a prodoot
d D the commerci� tunctions
in'IO!wd in b,iA.ging ptoducts or
services to the consumer
6-7 answers correct:
Congratuladonst You ace already
a marketing expert. You probably
got top ma,ks on your lnt
matketing exam,
4-5 answers correct: You have
a good foundation but there•s
room f o r improvement!
t-3 answers correct: Mo:,·be'
it's time to take a Ma.rk•Dllg 101
o
4
Wh&n mart:et reseatchers speak or
•
pn"mary data, lhE!'f mean
O articles hom a newspaper
o first-hand lnformation taken from
e
D
d
O intormation ta�en from the internet
respondents
information taken from professional
journals
5 OtJarititatiV$ data is a tetm us.d to describe
a O data lhat analyzes opinions of and
attitude-.s to a pr-oduet
b O data for .statistica! anaty.sis
e D datt thet looks et çonStJmer habi:t,
d D date used in questionn.aire design
•
O
b
rJ
e
D
d
D
6 ()(JQlitfJtive <JJtt, is informotion aboot
•
How to lnterprel your score:
b
7
opinions and attitudes oo a p<oduct
-or seme.e
the quaUty of the informalioo
marker researchers h.=we çolle,cted
the fearures of a competitor's
product
new product dcvclcpments
lf a company engages in ttidie marlreting, it
O coocentrates rts marketing effort on
the mass market
b O conoentrates rts ma1keting effort on
perti�.dar c oontries
e O coocentrates its matlceting effort on
severa! segrnents or a m.a,ket
d D eoocenttates its ma,keting effort on
-0f'le particular se-gment of lht
market
•
oourse!
P./"'9 'IS '<!PC '"l -., 'Mli
64
In what ways would you say you are inftuenced by marketing strategie&?
______
,_,__
Listening: Passing the buck
1 You wlll hear an excerpt from a meeting at CoolFit about the company's marketing
compaign and their sales figures. Listen and answer these que:stions:
What happened to the oompany's sales figures?
What seems ,o be the reason tor the oompatrfs probJems?
What is tho outcomo of the mooting7
Steve: PR and
M.rertising
,.
.....
I§
.....,,,.
'lhc)'O"Ymo1rli((rc
Vocabularv
�r-:�-...
Richard: vice­
president of
Marketing
Christine;
Mafket
Research
......______,.,
�
2 In this meeting Steve, Ch ristine and Richard use a number of marketing terms. Listen to
the reeordlng a seeond time and fili In the ml.ulng words In the eonversatlon,
wa.1 a mil'IJté, v.--e got
Ule
. r;g,>L
�
We rana
telev!sion coas.
to coasl
.......�•• ···- ·- ,,_....,_.. Uf'llify,e_
were sure we h;,d an vnbeateble
65
Marketing
communications
Reading: Alternative methods of marketing
1
Which of these marketing methods h.ave you heard of? What do you knD'N about
them?
virai ma�ting I guerrilla ma�eting I wo�of.movth I embush marketing I a<:Nergaming
2
Match each definltlo,n of a marketing method wlth an example.
thal u�es the
Virai mu.rktidng is tt n;an.eung tec.hnique
.i sclocted target
ng
oUeri
b)'
nfl
network effecb of che inoor
an electronic
on
pass
arily
volum
lù
ttve
incen
audieooe an
creates gmwl11g
ibis
eslS.
messagt1 to peers wtth similat inter
1s ciften
eting
mark
of
klOO
ThLo;
exposure to thO message.
use.
o/mo
as
1M'rrf
refe:rred to
Virai marketing
m
Ambush marketing
In ambush marketing.
r nd Yt�ys or prom01in,g their
products atsporting e:n�;:: �
�ponsorsh!P fees.
ThJs usoany jnvof\-es givlng ou1 !�o:3}1118
such as cl�hmg, tood
or bevc.rllg,es and ma)• give the ambUS:ng
i5 oomp 1my an
ad\a
' lll3&'t over the of11c:tal sponsor.
EJ
a
66
m
Guerrtlla marketln
Guerrlllo martwitng ·
1, a promor
9 iona, strategywht.c:h
cal"M"
.
invoJ,-es
.• ,,ngou1
unconveolfonaJ a d.
,,1ucs on a very Jow
rarger audience fs often
budger. Tbe
unaw:re Lhat lhey htl\'e bèc:o
co. �he etMcs orguerrma
mar eted
k
rnarkerfng ant
�trovtrsiaJ. as .son1e
crlt.1cs say lhac ,oo campa .
.igns are deèepti\'e or
rnJstead fng.
B
oonsol&, Nintendo
Betore thc launch of its new Wiì video game
put its lV·
to
r
otde
n
egy
&1nn
•
ted
desq
of America loc,
r$ and brooden
gamc
nonof
s
remote·sty1e controller in thé hand
The oo«1pan)'
.
men
g
yo\m
ot
group
1
usua.
its appeal beyond the
rt called a'Phs
recruited technology·sawy mom s - whom
s. Thcse moms
fnend
the•r
moms - to sha,e the console with
ronic produci.
ctcct
new
the
out
tr
10
s
invited a group of frieod
y
ous èlf)el'ience w1th
Many of 1he mothers had had little previ
accepl the fnvrtation bui
to
ttllnl
elec1r0ntC ga.mes and wero reluc
y.
pan
thc
bccams hooked af1er
Sales boomed.
Advergaming
tive gamlng
' rgaming ls tbe use uflntorac
Ad\e
ertislng messages
adv
dt:d
bed
am
u,r.hnology to dellvçr
roucl'
I further tblln
goes
to oon!:iume11,. ,\dvergamlng
because lt
\'1i:;1rors
amact
s.1te!t wbl(;h uso games to
ing enviroam�n\ I.e . IM
111cludei. branàjng In the g.11n.
tn11 lO tha game nselt.
advertistng 11\PSS3@ is oen
Word•Of·mouth (WOM)
Wor d-of�mc,01ll prom..xion is th&
in
� ! �" �:a::1:�:�d1111ons
rn s e
=�;rer��I means. "· Js oonsid ereà
1
e art.is m� strateg1es because or irs crèdiblUty. Researc:b shO'i'.'
.
lhat lnd1vkluél� are more liktly to behe1t'll WOM thao moll.l s
rormal promot10n mtt hods, as tho roceiver or wu�r-mo
uth
l)('Otn01ior1 tends lù lhEnk that rhe c.:omm
s
lng
i
k
honestly and l.s not rece.iving an lncen11:::�r her
ls/ spea
te<:ornmendatkm.
a
Hocmoil.(ln internet service provider, offered o free emoll
account to on)One who regl"St-tred. Eoch emoil s:ent by o
Hotmoll wl»criber lnclude:d the $1mplc tog ot the bottom ol
eoch me$$09e: "Get your free private emoil 01 http://www.
hotmoil.com�. Hotmoil spent tess thcn $SOO,OOO on mortc.cting
and w1thin 18 mOt'lths otttocted 12 million subsc.ribers.
m
Sony EllC'SSOO trred 60 act
01$ to stop s trangers on the
•
s-tree[ in ten MAJO< Amenca
n ot,os Th- tl>en as�e
• d them,
.
"Would )'OU mind taking "'I PKtur
· e,.;-,
· lf a stranger was n
agreernent. t he actor theo handed hm a
btand n�
PtCture phone and tok:! him 11 , cool 1he
l'léW dev ce was.
Thé strange-r was of COUr'Se os:1 ,mpr
i
essed
and war11ed
to know more abou t the pioductry
IJ
the 2010 Wor1.d Cup in South
Adida s was anofficial sponsor of
, hQwtver, found a way or
A frica,. lts blg rival Ni\:e wasn�t. Nìke
lhe event. lt linked up
ing
dur
f
l
getting lluge exposure for it:se
est buildings in South
with the Ufe Center, one of the taU
, and projtcted a massive
Africa's<apital city, Joharu�burg
the building. Most people
of
video �st.allation onto the sidt
during the toumament s�
whovisittd centra\Johannt�rg
the ad for Nike.
•
3 Have a look at tM followlng producu. Whlch of the marketing methods from page 66
could be used7 Clve reasons for your suggestiona.
.,;.;
�
OIM(l(irs: �.•kit«
« � ffl)'IIWl!l.flhgl
Grammar
solar heating systems
a urisex p erfume from a leading producer of handbags
e new oçtion movie
a new energy drink
a now medicine for malaria
a state-or-the-art laplop lrom a leading producer of PCs
a shower gel fot sensitj.,& skin
Raie-play: Bringing your marketing
knowledge into play
1 In palrs develop ldeas fora new promotlon campaign for Coo/Fitj.ans uslng alternative
and conventional marketing methods.
2 Then find a dlfferent partner and ro�play the following ,ituation:
One of you is the creative director of an advertisin.g company. Try to sell your ideas to
the marketing director of Coo/Fit Je:ans. The other is the CoolFfl marketing director. A.sk
questlons about the ldeas suggested to you.
Wh11tdoyou lhnk ;ibcut tryln1 oul-1
I tha,k tlie bes1 idea wo.Jd be to ,M
1, seems that ·\Y-e-'Want 10 appeal to ...
Hc:w inttre$:edWOu� -Our b:110':t SIOIIP
bein ..,1
Ethnic marketing
1 Whlch ethnlc group ls belng targeted In tach of th• ads above? Which Med-S and values of the partlcular
group ara belng addrau@d7
2 What are the largest ethnlc groups In your country, region or communlty?
Do companies target these g:roups with particular marketing or promotional campaigns? lf so,, giw examples.
3
lf you are a member of an ethnlc mlnodty, how do you feel about actvel'tlsing speciflcally almed at your
communlty?
4 lf you ran a company, how would you try to reach ethnlc minorltles wlth your advertfslng?
67
Marketing
commul'"\Cabons
Business Skllls
Presentations: Reaching your audience
a';,i
a.':i
f>rMtlltlt\C t ffletlell'I
c-.i&J'I
1 Think of a terrible presentation you have heard. What went wrong?
How should a presentation begin?
Video
2 Bvzz WorkJ is an innovative advertisi1"1g agency. lts founder, Bob Spencer, has been
invited to give a presientatlon et Coo/Fit. Listen to the first part of his presentation. Did
he fo11ow all tM steps outlined In the mlnd map below?
.,
............ ................·
--
Se.yingwhon
f-----...::"'=-=""'::.;'"::...,. -·
Greetiing the
oudonco
)/'OUW&nt
llmoducing
,••
••••• -••••••••••••••••••••••••
.................. .........
e.,,i.;,;ng
the Oll'\IOlu�
ofthc-
................................
Trne ne
Starting from the above left-hand corner you find stcps typlcally u&ed to begln a
pre.sentation. li&ten again and fill in the phras.es Bob Spencer u&es to structure the
beginnlng of his pres-entatlon.
3 After Bob Spencer from Buzz World out1ined what went wrong with the former
advertlslng �mpaign, he explatns what his agency woufd do differently this time. Li.sten
and answer the followlng questiona;
... ··-·
1 What isthe pufpose of the campaign? ·-··-· .... -.........·-··------..... ·-··-··-.. ·--··
2 \Vhat are the four steps Buzz WOf/d ls go1ng to use to achieve its g0c11I?
3
68
Ooyou think this isliketftowofk?
•
Business Skllls
4
LIsten to the fìnal pal't of Bob S�ncer's pre�ntatlon, What d<>es Buu Wot'ld expect to
achieve wlth the campalgn proposal?
Consider the follo.ving factors:
�
effectweness
risks
CO'looelloM: �_,
�tNiig u11•JHW•
Vocabularv
CO$tS
success
What ls the purpose of thls final part of the presentatlon?
Presentations: Preparing slides
1 You w ili hear part of:, lecture Prof Alnsley Barnes ls gtving on Form$ ofAdvertiting for
.tod••t• I• ho, éou,u Mai//ill/ll 101. Th• loll0wl•t •oun& 6éèu, I• he, PreHOlàtlo•.
Use one of them to complete e.aeh of the followlng sentences:
I§
Sig11powlg: pili:ig h fihl'WIr
lltOufl • pr&(o)r(M:iofl
Skills
approech • clutter • dr11wbadc • ho-stility • slot
Their relationship used to be friendly, hut nmN there is a Jot of
CEO and the CFO.
between the
2 TV advettising rates are geooral)y qu-oted per 30.Socood timè �··-----
.... of television advertising i:s that viewers tend to switch channels durwlg a
3 A ...
commerciai.
4 Some people thint that. ...
. . on a desk is a sign of ge.-.us.
5 Our own sales methods ha,-en't \\'Orked. We need a oompletely rew
2
look c'Jt the three slldes. Whlch of them d o you thlnk would supp0rt lhe presentatlon
best? !Discuss this with the other s.tudents. Then listento the preMntation aga In*
� ,)
Disadvantages of TV advertising
What are tha drawbacks of TV advertising?
•
•
A 1V commerciai can be expensive to make
and position
•
•
High costs
Expensive updates
•
Clutter
TV t()ff'IITl(ttcial has to bit upd;rhtd
•
Low audience selectivity
•
�ltising dutter e110 •IIOO)' consl.ffle�.
•
Waste
•
5on'l9 � of the $\Kilence m�
"°' be
IINC.hed
• Part of the expenditure may be wasted.
The solution to the problem
1s to engage the audience- wìth
entertaining messages.
Solution: Madison and Vine approach
Disadvantages of TV advertising
,. High OOS1$
• Expensive updates: new production
costs
• Clutter: too much advertising
,. Low audience selectivity: many consumers
noi reached
.. Waste of advertising expenditure
Madison and Vine: informative and
enter1aining advertising
69
7
Marketing
communications
--TTp• tor De.ignfng end Uting
Ptuentation SlidH
Oo's
• reduce mesaage to k�w<irds
• use the Rl.le ofS« (maxim.im
sk lineII of $IX wl.Yds e ;jCh)
• strucnre ycur presentatims
wilh phrsses: wch as:
-
-
BuslnEHiS Skllls
Writing: Presentation slides
Look at the text about online advertising. Prepare a sfide and group the important
information under four or five bullet points.
TV aò:crtising has lho hugc dr<1Wbac:t: that this foon of oommmicaclcn works in orij oM dìrocuon.
Ewn if it aiceffds in reaching the tef'l!!t group. e is a passl't'f!' experience foc oonsumers.who
cannot re.ac1 10 messages im.mediately and rnay s,oon forget aboo1 them.
• MyM\'tslidtlshows ..
• As yoocan se.e •..
kl'.ernnadv«bsing. on the «het hand. has ;he bene fil of beS'lg interacti.ie. WhM the me&Sage
reaches dl! targeted gtC'ltip of OOC'ISUmef� they are motkated 10 ll'!quest addiriooal lllformaoon and
c,n do LN$ 111 sen6r1g •n emt1il � e� �en m,ke 11n tmme63le Ot'lline p1>1chll$e. They do thi$
Do1t't1
volontari�· and •re no lon;gc-r bombardedwlth advertishg �in:st thcir witl, A benclit to advcrtisen
*8 that che&e actions are a11 measurable. lhe: effecti,.ene5S of a �io, can easily be evaluated.
• !J:,C foll senltnte$ çt1 lhc 31ide
• d:stract the aucience with too many
$pe(:ial eff�t.s
• re�cf out what i$ on the $1ide
tf too campaign is performing badly, t can be modifKld or<:l1scontÌF1Ued. Aod of c:oorso the c:06t <A
such advertising is milimal. So in many respects, cnline toolsare an :advertiser's dream.
Presentations: lcebreakers
1 Presenters can use dlfferent technlques to gel thelr audlence·s attentlon. Look at the
two example& below. Which technlque& do the presenters use?
1
First slkle at thé start of a prèsentation about the oompany MriCrosorr-.
The Microsoft team in 1976. Would you have invested?
2
This is an exampie of what Bob Spencer, creati.-e directoc of Buzz World, oould hmie said at the
beginning of his presentation.
"Mello eVQ()'bOdy.
Do you know that the aYera� city ctwefle-r
i1'I an average ricll nation is bombarded by at>out 3.000
ads and markcti'lg roossagcs <NC,Y single d,fi And tl'lat yoong
people, because of their lifestijle, are lib!loj lo
cncounter up to 5,000 marketing
me5$•S a da{?"
2 Can you thlnk of other ways of attraetlng the audlence's attentJon?
70
Company Case
lhe Gem1an organic sott drink Okobraurc, a tasty
low-.sugar soda made of natural !ng,edifnts, was
creattd 20yea,s ago 10 save a fam.ity business.. Back
then it was consìdered a bohemian drim and was
ad\'ertised 18rgely by word-01-mouth. lt hs since
become B sucoes.s story on the domestc market with
reo,rd sale, smong health-eonscious cons.umers. lts
range of flavo,s • including gingor, .,.chce and
elderllO'Ner- and hip botti& de.$ign also appeal to
mainsueam con.s1..mers who llke lo keep upwith
t�nds. The producl ls noN sold Jn comtt1tlooal
supermarket.s as well as in health food �to,es and
recenttf the company has even begun er;f\oertising.
In the tast two years the company has been
&truggling to keep up with demand in tht! domtstic
martct. Howevcr. the ncw CEO. Ute Sdlmidt, is
andcipating a t.ne whèn th• home market wi!I haote
i
reached saturation; to continue growth, she th nb the
company ne-eds to expand rlternational!y. lt is alreacty
µre:1t:11l in m01e (11,:111 13 Eun,1p,e1:111 t:UVlt,ie:s �ncJ
Schmidt has naw decided to l(lunc::h (JtcbrwstJ on the
U.S. market. This will not be 3n easy un6ertaking
beeause the U.S. m;Hket is veiy difficult to bt&ak into
due lo the coont,Ys size and diversi�. On the other
hand, e.obrause has strong selling poirn: qua!ity
combined wtlh organic ingredients in a product whtch
so far doesn't exist on the Ame-rican m1:rke1.
71
Presentations: Creating slides
Go over the audlO$Cript of the Buzz World presentati on and
create slldes.
� Hl,. e-1·er)'body.
For lbooe of:,uu wl10 tb1'l k,1ow me- ID)' mm,e is Bob Spwtl:lr 111d
l"m lhe treldh•e di.n:ùor.,f &it-l lforld.
Buz: World 1s one of the smaDer promotioa a19ncles but ;,,e have
s become very successfuJ in the area o f unoonve.ntional ma:ket1ng
SUl)port.
rm ve11• happy to be hère wlth ),'OU to prtsent our proposa) fort new
CoolHt advertising campalgn because I tbink you bave de!Yeloped �
superb product. In fact, the wbole a.(!;8.ncy is realty ent husiMtlc aboot
to tbe prospect ofworldng on tl'tls campal.gn.
OK. Lèt 11.'h: 3ivo yoo tifi idea of whut l'ni p.l\g te> u1lk obout.
Fir$t l'O $ti.IO up wh.:11 hii.1i bcen tlmie 110 farai yuur�ml and tbe
results. ru also outline tha reasons I belie\'tl why your ad\'8rtising
campalgn may not have been so suocessful.
1� TI,en 1'1100111e IO 1.ht: ni_.u, point ohhi, 1}relkntoCM)rl. whid:1 i$OOr
ad�rfuln& COll(tpt..
And finally l' Il point out the advantages cl our conoept.
Thls wlU talee aboot ten minutes.. Then there'll be time for quesdoDS.
And anerwards rn ellplolo the c:onccix In dmil. whl<:h. uyou can
to im&S[ne. l'O&)' take I liule loN;er�
Righi. l.et'sst<lrt. You.r jeans are stote-of�be-an _
r,
ts
:,)
,s
•o
u
So. bere we ve -wh:.tt can 814Z tt()fld dfer y()U?
We'd SUAA'(!st a ml.xture òf vi� 1n1Uktlini roeosures wUh ,1; lilde d<$e
or conventional ad\'Elni.s:ing.
Wa've optad for a louJ1ostap campaign:
F'ir.M Slep: w�·u produce ,1 lrio of 11hra low-1"'dSel videoclip&; oow
these film� 1M.i11'111b11A ' yoor pn)<h.1.i. aud wvn'l indN.!<lltl lhal thi.s b,
adverdslng Tbe videos will show thrff different )'OUng men a.od
women, wbo are eojoylng tbemset.ies. Tbe ksy 1s that thevideos will
look very 1;ut1a1turi$h.
SccQhW "',e'U tap 1hese \'l<leet to abou1 200,000 lnftuential )'<)ung
aduks from a li.se of web surfers whlcb ""ll'll provide.
Third: "',i'l1 walt roughly C11M month fortbe buil�up ortbe bw:z. How
1s thls dooer Very Jlmple: 1he reelplenu of the v1c)eo cflps w111 send
them 10 1helr f1'1ends Jnd they wlll $ènd 1hern lo 1helrfrie1�. ece So
tbey g,et t1-.s ball rolling..
Tben - and this is the exciriogsa:ep - after a month or so we'fl do a
TV aod radio advartising bliu. a) nwealing that tbe tbroo ,ideo
charai:lf!r.l 'Ai!te rlo:Mln:,I c:b1:1raete.r1 trni 1ha1 chey ""'='" (koW!ltifli,(I &s
llr&'1 or &n ()nlirie OOfnpt.iter garne. 3� b• ilòrit'lunçing tl�t che game
can onty be played ifthe partidpaots ge( tbe product identiftC81..ion
numbe.r from a pùr of CootFi: �a.ns, wbich means thM tbey bave to
\IISit •Jhop. we·11 run the TV ccanr:nerd&l and the radio spot only for
abo\11 0'1t dm be(:8\1.$1! lhe rese 1s done b)' the«on.sumersthrough
oonuounication in the net, but tospood the prccess up a little, wa're
tbinking of eroployiog so-caUed lbuu agents as weU.
So che 1de$ fs tha.t a1 the end ofthSs campalgn tve•·}'i>o<ty ln our
U1ti'f!l gr,:;up wllf l.e 1al king abnu1 lhe de-.et&1lve,it1�1ngand
oonscqucndy about OxGil jeans. Tb3nk you.
Leii me now hlghllght 1he ,i:ellrng: p01n1s ofthlSoon<'ti:c, In other
wo1,h: why &� '11'6 so sure 1h&l a c:amp.;igri 11$1ng virai ma,'ktin,gwlll
work this time?
72
Well, fltsl ofal� we'II be able totarge, about 90"lofthe uendsene.rs
In 1he Jeans !leG�N.
$) Of oour.sc you·IJ be a.ru:ious to know whait thcrisksarc, I.et mc
assuro you �re aro hard}y an)· ris.ks involved bccauscthc COS(S will
bevery low. And mosl tmponam: l ffl turns out 1lui1 the ctmpatgn
L-.n·, as Sll()f)f!S.<m!I a.selt:Jlf!Cled. .,,,e c:an call lt ofl'and nooody •·Ul
ha"\•e ever n01k'.ed 1ha1 il was us who produOP.<I 1hose ,4de<l!I In the
® first plac.e. Aml finally. costs will be absolutttly minimal
So. to put it in a nu1shell: "''e are u:pecti.ng a bug-e ftl&ponlltl to tbis
campa.lgn, wt1h the resu.lt thai )'OOr Jean.s wUI tl\'e up 10 lhelr name.
Thanks for )'outtime. � then. (ire ll'o''D)' whh any quesdons you
may h:we.
Web research: Okobrause
Find out if the American market is ready tor a German
organie soft drink. You could googl'e U.S. combined with the
followlng terms;:
•
•
•
•
•
sile of marir.et for crpnicfood and be...erages
i
11\'erage spend ng on food as peroentase of total inCX'>l'Tle
expontltu� fo, org;,nk: food by region
retail mar1iet for orgara:c food and be\etages
majo, importers of org.aric food
Share your findings in class in the nexr: session.
Reading: The city that said no to
advertising
Reod the fol lowing article and answer the questions below.
•
I
•
A city stripped ol adn•rtis:ini:. No posters.. �o O)"'rs. No ads on
bus��- Nt> iul,s (in 1r,1Ìtl1;. N<, A1l'\h1'1� - n1) 4tH.h,wr, - n(I n<,1bi11g.
lt souods like an Adbusta.rsed.ì:orial: ao activlst's dream. But in Sào
J"-,;uh), 61"\ti:il, lhf! dn':111.11'1 h��beOJlfìe il re-411ty.
In September las:1 year, the city's popuUst rlgtit-wlng ml.)'Or, Gilberto
Kassab. passed tbe so-<:alled Cle.an City laws. f'8d up with tbe "\isual
) pol111tkio" c,11uSèd by lhe city's 8,000 biJlboant sites. m,rnr ord1en1
til't(;Ccd ilk�11lly, Kas,,_�b $11'QJJOOtid ;t l!,w b.ion.ing all o-..<l<#�r
ad\·ettising. Tbe skyscraper-sized board:fngs th.at Hned the ch)''s
ureetswould be wlped etA'irf at a suoke. And lt wasnot just
tiilfooords ,biti 3:llro"'OO hl.�w111(h:�Il f(Jrrns (I( ,)l)CdQC)f (l(,h-erti�ns
"' wert co be pr0bibiled. incll.tdins ads on t.aJth:l, <in buses - eveo
shopl'ronIS "'"'re to be r eSltic:ted, tbeir si gns limited 10 U meters ror
ewry IO meters offrontaeia- "lt is hard i n a cir)• of 11 mlUbl people
to find cnough cquipmen1 and pcrsonnol todctcrmioo .,..fat i&and
iso't 1iega1; reilSOned Kassab, ·sowa ha,-e decided togo ali theway.·
l3 Botder, tOO BlazllianAssodation ofAdvertisers, was up In arms over
,N! 111 1)\'f!. In ;t sra1e1n1e.n1 �le&MICI ori Oci:ON!t 2, ,i.., d:llt on .,..hlc:h
l{tw PI. 379/06 wa.1 lbrmally ;t�td by rhe (ity cnuoc:11. Btittler
caUed tb& oow laws ·unreaJ, ioefl'ecth-e and fascist"'. h pointed to the­
tens of thoURlllds or snall businesses tbat would bave to bear tbe
to �tden of altettng r helrd1opfron1s undPr regulatlon.s "U11k..::wn tn
1helr'1frvlf!rioe In eny ocker ctty In t he \\'Orlcr. A priedJctlon of
US$133 milJion in lost advertising revunus for tbe cit}' wrfooed in
•ba pn:ss, while tbs S3o f'aulo ootdoor media owners' association
Sepex:, wam;,ii 1ha1 20,(1()(} people \\'Ou!d liJse 1hett Jobs.
"
<À.bers predid.ed that the citywould look f!WO W"Orse wilh the ffl
remowd, a bland ooncreee Jungle replaclng the dtao.s t>hhe presen1.
North Koree and oom.munlst Eastem Europe ""--ere c:lted a$ lndtcalive
ot wh:,1 wu 10 CCfl'.le . There w3$ ;1Jso mu<::h qvt:StiOttlng of whethet
tbcre wercn't. in fact, fuJ g,eater cyesore;s i n the cà:y- sudlas tba
w tbousaods of bomele&& people, 1he poor ainditloo. o ft be ,oeds and
the nn«ltl<iut r�w.111$ · - Nevenhelt<_._,, 1h6t:tllll'IC':lt fll'@Ssed alle.ad.
�whar w�MP. almlng for is a compiere change rif r.uln1rP.,- 11�
pnisldmt Roberto TripoJi said.
In tbe,ory, Aprii I, 2007 wa.sthe Arst day ofSio Pau.lo's re-bi!lh •sa
M Clean C1t}'.
I
2
3
4
I
Who banned ad\'ertising in Mo Pauk>?
Why was advertising banned?
\Vh:at were the a1guments against the ban?
\Vhat would you Sii')' was the result of the act..-ertising ban?
"I mn·1 tcU yoo whnt ifs like 10 u,, in u city wit boul DM )'ffl,·
Sft)'S C11S1a,o Piquei,-.,, who rullSlhPSI 11dio Rf'x 0.,-sign in Sào
Pr1 ulo, ·1>H'11use iA a le., M r11a,�1>.$ 1her s.illl htwti,l'r b,,..n
rcmu,;rd. In Uruzil, eYCr)' tim,c thnt .some new I.ci:"''comcs in,
,c,l:rybod}' wait.s o lilllc lo .scc i! it \'!;Il rcally be oppliod and
.scrioo..sly oonlrOUed, or if it'.s just soml'thiog to bU tho
n.·,,-s;i_>flp�tj for�, "''W-k or two."
In a la of plaoos, Piqueira sofs. this bas led to tha removal of poGlllrs
bui Mli Ihe struetuno,s on wbJch 1hey ...-ere d!SplayP.d. •11•s a kind -OI
111 1>11li>o.,rd M�ry'. I g1W!AA 1hf!y'M wi\ltlnglt>liW'! I( 1bP. liJW wlll
really last. lf the mayor keep.s tbo law f'or a year or so. peo-ple wiU
start to n,mc,,-e them and tbe city will ftnaUy. stan to look beuer.•
AJrca<ly thc law has led to some strangc discO'ocrios. 8ecat1SC tbc
sitingot l:Ulboards wns unnigulaicd. many poor peq,!e readily
I$ accep,IE!d cash l<l havea po11tersi1e in 1l�fr garde.ns otewn In hoo1
of rh�lr home,;. \V.h I helr retnr.1\-al. a new r.l1y l!I f.metgln,g ·r.as,
week,. on my W") ' towork. J 'di.sooYered' • bouse. � A)'S Piq ui,ira. • h
had been oovercd by a bi.g bill.board fbr yenrs so J DCW1revon k.ncw­
wbat it lookecl Jike. •
» But 1he.re 3redcwln.sldes- P1que1roworrtes lh()I much of ti.e
·vern.acular'" lectering and sigMg,g from smaJI busines5es - ·an
importane pan: of the ciry's bistory aod culture· - wiJJ be ICISL The
o.-gitn 11.ers ot •he s;o !¼iulo carni,� }lave al-:o �>: p1�9Eld (Xlnoerns
#Klul the ln11g-1r,r1n f\lrun,ol ll11:1lr1::.,t1\I now 1h$1 Sp(lflsetr$ wm Oòl
n b8 oJICM,:id to .adverdse along che route. The city authorlties for tbeir
part bave made lt tlear tbal oonaln public informatlon aod cuJtural
\l'Ol'h i.tlll bft f!IP..mpi!d from the rula�
Aftor a period:d ttro toleranoo, Piqueira believes thai: ad\·ettising.
albeli In i far nl()r@ ,..,.gula1ed form. will .5tar1 toc�p 1)1)(:k Inta the
:-e dry, tirlr.r l\S .ti l'l!sa,11 <1fh,,4;11)dtallen�r\ a e.Nln� In (tfltnl ntslr&llon,
oroompromis-es bctweeo 1Il8cbaowners and the city. A!roaély. tbe
counca.l has stated that it would like. to see tbe lntrodoctloa of
apprcA-ed streec fumituni su.eh as bus &tOpS. wbidi may well carry
ad.i.o As 1hese ...,111 no doub1 be b 1hern&jor brand s e� o:m afford
lS such lucrauve: posiUo,ns. a more seet(le. bland ,'l.sual env1�me111
may �piace the vibraot, iidiaotic streets ofthe post, flypo,sters,
hancJ.letttrod signs and dub llycrs wiU remoin be.noed "''hile
lmernauoo
, al �d camp,algos fot g)OOOI bt-..,nds on dty·approved �er
soes wtll re1urn.
,�be,,,.,.
'4 Meanwhtle, accwdlng toAugusro Moya, crea,I\" dfrecior of ad
DDn o,..1L 11>. ban I! IOt<111g 1a,11C1oi
1n,�nt1.,..
• Asa creative. I thlnt thùl: thcro is onegood thing tbc ban bas
brougbt: we must rn,,.' uso moro traditional cn.cdoor roodia itlt.e bus
stops and all klnds of url>an flntng:sl In & more creat1Ve wa:;,· he
,s AA)'S. ·PP.,opM .a1 all 1M llg,'!-1\Clf-!! arerhtnkln.g 11ho111 Mo\ ICI de\'t'iltlp
O'-'door medt.:i Wt do OC( interkre so mudl in tbe physical strutture
oftbec:ity. •
*lltY
MCY)-a rakes sn 1:1nlighreOP.cl vif!w -0f1� l &w. •M & Clltlen, I thlnk 1ha1
futuro gtMrnioos wiU thank t.00 CWTcnt city administradoo fbr tbis
» ba.o.: be .says. "Tbe,re' s stilt a lot to be done in te-rms or polJution • air
pollutlon, l'M.t pnllutkin, Sll'Ef:f pollurlon and 110 on. SIio P.ullo U srlll
Q�ofrhe m09 pnlluu!d c111es In lheworid. Bm I helleve eh ls IBW 1,
the fir• stcptowards II better future.·
Had the ban imp,oved Sào Paulo's appearanoe a few
months later?
2 What effects on local culture do people fearwil ,esult
from the b an?
3 What do people expect the future of aclvertising to be like?
4 What a<Mlntages does Augusto MO'fa see in the ban?
Writing: Banning advertising
Would a ban on outdoor advertlslng lmprove the q1uality of
Iife in your city? Write a short essay of 200-250 wor ds.
73
Debts, savings and
investments
Warm-up
Leam,ng Focus
• Discusaing deb1, credit and
1� �k$' Ì'ltere$!
"Bnnk.s Cook ou
says Cl1a11ccUor
100
mud1 risk "
Taiwan sinks into recession
• Tiiklng abcvt opport111 tlcs f01
i
S(lvi "Z 11n(I lnvesdn& mcw,ey
• Under.standìng a ncgoo;,tlon
Tuition fees on the rise
Rate of inflation has risen
to record high of 6.1 %
• Participating in negotiatioM
Self Study
• Unclerst;mdina AegOOJtlons
11Je Bank ofEngland makes
shock J.5% interestrate cut
• Hoon/�rb co.locaticns:
increase your interes.:
• Righting Wl"Ofl&S.'. readingclosely
How could the developments mentioned in thie headlines affect you?
Listening: The debt trap
1 What wrvices can you expec::t from a bank1 Enter your thoughts into the mind map.
........ M .....................
.·
········-······················::- Saleguardng
••••••••M .............. ........•
.................................
.. ........... ..... .... .... ·•.
.......................�.. ·"··.':
...........�.........\·.� Advisirg on
..................
............................
•
.. .·
.......................<. .....
74
.................................. .
\..
� .............................. .
18&.ing ,:.·
.
..................,................
·. ............................ ..
_______,.
2 Form word partnership$ by matchln.g a verb on lhe left wilh the eorre.spondlng noun
(combinatlon} on the righl
a c1Xrent acCOt.a'lt
a pen(llfy re-e
eh.arse
contr-01
___ - Mni CJliptnOO$
cCNer __..,,
a grar t,
drawup
a budget pian
excoed
an c,,,,erdrah faci!ity
grant
Or'l!'!·s cwerdraft fmit
i
one•s $pend i\&
op,.
be entitled te
3
.cove.v .\ivi� . e.)'.C're�es.
Now use some of the expressions to complete the sentences belOYI. You may need to
change some wo,ds.
For making 01 receMOg regular payments you need to
lf you
you know precisety how much money
'fUIJ ,,ct::d +Juri11g ,::I 1111.mtl,. Tili:s will �l<.>p yw ho111 · ····-.. . .···�•. o-••-· ·-.. ···- ..······
which your bank h�s offered you.
3 lf )'OU take out more money than there is in ) 'OUf banl: account without p<ior agreement. the
b-a.nk vili
4 Some unhe.-sities offer specfal grants for students. Check out the details to find out if you
2
M..- •• - - -
4 Usten to the radio program Money and more about the problems Ken, a Brttish un ivers-ity
student, facird when dealing with his persona! finanoe and put the sentenoes below in
the r(ght order.
a
b
e
d
e
f
g
h
I
Ken w:!nl cwer tiis oterdraft limit wlthin three mooths.
Xen opeood a CUN'ént accounL
>::en édn't sucooed in finding a job.
X:en vsed the oredit card hi$ bank had provided him for free.
X:en' s �arents took out a loan from lhe bank to CO'ler their son's INiog expenses.
ken had also receNed a grant to p.,J for hi:s tuition fees.
�en tiao to pay 11terest o, cwer 28}\ ro, gomg o-.-er t11s C)lerdran 11m1 t.
ken gave tis credit card Nek to the bank..
lhe béink prOYided Ken with a large, lnterest-free overdraft faclity.
ien fa� to get help frorn h.is parents.
What advice does the student union give people like t<en who have fallen into the debt
trap?
Discussion: The banks' interest
Do university students in your country face similar problems? How does the financial
situation of student.s in the U.K. compare to the situation of students in your country?
Can you Imagine why banks use ,trategles ,uch u thoH described In the l'adlo
program? In what way does lt make a dlfferenee if you are a student, a prfvate eu.slomer
wlth a reguhr lncom-e or a buslne.H?
75
a
Dabts, sa�ngs and
investments
--- - - �
-
li-
� diJ
,--.11.:11
Savings habits across cultures
What do you think are the re.son, behind the differences in savlngs b,hav·ior?
The rate is: calculated as a
percentage of the disposablc
income of p,tivate hou.seho!ds.
lt is the stnplost indica!or
(CH illu.stntln,g the spending
behavtor ,f societies.
Experts explain c;.,ma(o/s high savings tate by pointing to lhe counuy's nlghtnarish
cxpericnce with two trl(,g>devalualions of its curre.ncy in the 20" ccntury and :hc desire
most people have t o awld risks by all rooans.
In your opinion. how muc:h do the follOHing factors comribute to oer tain forms of savin_gs
habits?
• the availability of a publ c safety net
property ownership
i
• a po$it;.,e or negatiYe economie climate
free educaòon
• a positr.'e attitude t!)W11rds the future
a <lcvelopod consumer credit system
"'""
Germ!IITf
U.K.
USA
3.6"'
--·�·
,.�
u"•
What other factors could play a role in people's s.avings habits?
Do the ditterences insavings behavior ex pia in why American and British students
are less worried about accumulating debts of $/t 23,000 on average during thelr
studies?
• ttie fli,\lrES $htMt the .r.-e,age r.ite or
lhe)'llllr!I �00to2008
yleld
inrtial char�
safe custc� charge
commlsilon
Reading: Types of investments
is.su
gain
i
equ y
1 Look at the words in the left·hand marg:in and classjfy them accordingto the
correct e,tegory.
l1'1l!!l /liquìctlly
securitles
return
Typu of assets
Costs ol auet
management
lnvestment criteria
yie1A
waNe
curre'!9' futures
management fee
performance
dividend
maturi
discount
credit risk
2 Now use these expressions to complete the sentences below.
de nomination
propeny
1money•morl<it fund&
An US(:t rel:!rs to .anythltlg -Of ,"'l.lue
owoed tl' � oorq,&ny or an
ln41..-1dual h ts ofteo assocltited
with the expmssa(los abo-;e.
76
'
This typ,e of timber nvestment fvnd is too risky. although it win produce a high y;elJ....
new sharos,
2
FashionCx has jus1 •... -·· ...
3
GOYernment bondsactueve steady and predictable
•
4 Shares ean be tumtd into cash easity, therefote th<.y are cha1'3Cterlzed as.
Because we·d tike to keepyou as our cuslomer, we'II
. Lhe extra chages .
6 I won't invest in $hares, 1'11 keep m>' money in my sa-.<ings account and forgo the extra
7
8
indicator for shares combines the share prioe, the dividend piid ilAd any
fhe
gains or losses due to exch&nge rote fluctuations.
. ··-··. i!llcstmcnt. which is thc buying and sc!ling of sharcs of stock and funds has
become parl of lheAmerican Wi!l'f of tife.
.. of lnvestmo nts and decide forwhlch type(s) of
· typ
3 Rea d abo ut the followlng
lnvestor(&) the example.s would be most sultable. Then eh oose one type of
l3
�fhe consc.rvati,·c in,·�tor
Cli,ucf'V"Jti� inV<'.${Qf'S W\tnt a sa(e
ponfé,l,u that will grnw in val1,1c: but docs
not fCqUlt'(' oom1:1.nt .tm:ntion, 11-.ey try h)
avo.id t1k ri$k oflosing their origi n :if
investmmt. lfconscrv.tth'c inves�113 inveJr
in stock$ t.h,ey olia. choc»c blue ehips
he:otusc 1hC$t lct'ld to d1ansc: v;ifoc 111()1'1."
Jlowly th:in oc-hn cypcs ufstodc.
lheir incomc i$ unalty low :anJ/or
unsrffllc and thieir iOVe.$fmc.-tu lime (rame
is �ttn two and (ive }'CllS. ln,·e:uors
ofu-n k'nd 10 choo� chis oprlQn v.bcn rhey
are :ipproac:hing ttòt<rncnr or payi rtg oif a
stuJcnt lo;an.
Who art: J,ey? Avcngc ;ind ord.inary
pc,Qple, -,.uch .aJ 1111.J i bu.sioe,s ownQs ,u
wdl as bine .tnd ""hile-call.u empio�.
lnvest.ment and write down its strengths and weaknesses. Pre sent your results
in elass..
a
Sha.rc::s
ru p Of:l coo.,p.u ,y. Ordin.ary ,lµm ha:vt
"''l"I·-0Wl)(f$ L'
.
or ob"I-·S i_ m\'t'!t
L
•
tn,;
n.. urcha!dng $�ICS
t e ,11>s.i to d,c
any's bu,kmptcy 'J,
,
(fa.bllit)', whicb mca.nS that ill CIIIC,of tbcro;)� e çan be bout1)t :aod J(1)d on tb<
r
_
thci
-0(
,e
JS
o
b�ldcrS is limitt<l to tM v.ilu
, hOJ\f,
c:5 in j,(ock incba, on lUuon;d a d
�()(k. cxdungc. ]o-A:stors n� to \tt!p abrcst.u:;
:a.� c ci9oo).11)C i:oost w,clU:n own
,
. uJ !it(dnu.r:kcainordcrtl'Jmake 9(" dc
' •' .t• ndtbc JaJX'flescN1/t!tri
1nruoauo1
JridttSrriRJ Avrfflgt t D'J JFV a
,
(').'Ch:a.1,gc iodoct;S :are tbc U.S. DowfanM. _1_. of ..lob-a l .:,rg..,nilt
lions are thc Eurnpe.i.n
1hc roos,: i mpor�nt Ul"""'cs b'
�• A
.
J Jtl-t'o9ri'>OO i:ndcs:
.>fTSE /O(hnd tbc A,ne,ic.an
tn,s
• htsat thc:lJUll.13I n·-irw
-..·-·e aod aie&.c in tbc «Jfflp
'lhc toiurcholder bJP'OÙng ng
.
hU 01' bn $haru.
earni.nt1 by rccdvlug a ,lividèl\d on
l�,rlcd
•°?'
ziss,- '"'st'·
.... RT,
s-
aBond,
Roncb � bsu<'d hy loca I and n:1.don.21 gon:rnmc:nu, firuneial
in�tl,utioru .and1atgc
wmp-anies ro ra.isie mo1.ey in «dcr co l'ìna.no,: a v:irict)· of aai
vi1ics or prt,jll,ei,, 'Thcy
:ire boiighr b)• priv.lre or lruriwrional itWOWl'.t 1,1,fio usu:Jly
ttcdve fixOO inw·u1
paym.:sus, gcncu.lly cw� a ,�.n. in ,e1um fu, prcwidi n qpttal
g
10 thc iJS1�r o( d,c
bonds. Thc irn'àlors get cfidr moncy brl whcn thc: bond l'('At'he
irs muurjl)· dare,
Thcy .tre .a forin oflo,ig-tcrm invt:$tmcn 1 and pmkuJar GO'o-rtn
m,:,m bonck like 1hc
Amfri,r11,r Ìrtt1•ri�.1 (T-&mds), 1hc Brisilh GJ/Js
and 7/k Gm1111N bmds are
0011.dck� <o be vlnu,dly rilk.frtt, Bonds al'C' tr.adcd by fi.nani:h
l i.nsdn,ni<11u �hkh
ac1 ::is broken. Company bonds olfer a h.igheryidd ro con:1pt
11U«- lor 1hc ri.sl: or
bankn.iprey. Thcrc(1>re. OOnd r.nin S)'SCC'm$ by ortdi r :igcndcs
lik.t:,Stand1rJtl 6 /\tor�
g
help in�"l'StOfl 10 dettnnine rhc comlMny's cl't'<lt riir.k.
E Fuvurcs
a
Futures or fotu1q; cootrnas are agtcemcnti betwecn f'A'O pwdcs CO se.li or buy a.n l!Skt at
::i p�tcm1incd dtte md l"kc. AiJtts o:IWJ be commocHriN pmd1Kt1, .,,ach lL$
ind1.1$trfa.l c,r preclo11$ mcul aoJ oll 111 oth(r w-ords, whm 1,uyfog .a futu JtS ooncract,
thc investo, :igrccs to buy somcthing:it .a fixcd d:11c :.a.nd 1,ricc .:wn tllough thcsdl et h:a..,
t,(J( produ«d: it }'et.
J�unaru can be uscd to ltt'dg,e <>c co spccubtc on tht: prioe m(l','emenr c:I che �klcrlylng
_
a� FQrcx:ampl,, a coff'tt produoc:r<:OUld nU (1ltum1 to sec:ure a oc:na� pnct: a.nd
mli.cc risk. ibis is c:ùled hcdging. On thc Olher h:md, mc spccubuo r w-ill uy to P;°fìt
of rUinaoi d�11 mg
from tbe mk by buying :a.nd llt'Ui ng thci r fururcs in An ticipuion
;
pticC$. Other t}'flCS offotuQ!'S �lt 6nandal fu rum, which :ire htiCd oo Jinanaal as.s-ets
$!»eh àS eutrcti,Clo, Ì.r1lefCSt ra� and nock.1.
a
Tbc adventurous io,·enor
Co.m.mercial paper (CP)
byacomp;my. Unsccutcd
a 13fucd
Comln('fcial papcr i.� :m ,uuccurcd du1rt-tenn bti
' :wcu. As a w;ul1. ofm, only ,o p-•
w.rante wbythcco,�oys
w.u1 � nac g
tnc •-·
mcuis Ùlat t..
L.
1.1n f.a«
1e,9 l1
im·c.Qf purd,:uct. :i CP at •�-r:m.d comp:inio � abk IO Gnd bu,
rcrs_. '(h,:
nt (f.t«:
:unou
fo.ll
thc
n-s
W
u.'
and
CP)
te
h
,� m,na
-'ucsu1cdbyu,cl)�-cro f
, I ,-1.1
wh�\,.utcoo
-�"Nl
_ 1ue,cu,
r
..L
.
mcc,'-'
cc :andu,c:
ri
r
d-ascr
p
c
betwc
c
:
� m,c
.,1�) at m.1.twhy. ·[. be dilfercoc
u
U$llaDy
cnl· Commerciai paperi,.
--.
,ali co1umerc1·:J
thc Ji,cow11, is thè Ul�('.� ro:;::civtdon tncuwntm
inwesr:
on1y
can
OJS
inve1t
àlkr
sro
re
i.,sued in 1:ugc dcrtQnunanoru. ·m�
s
�r indircctly through mooty I\Ut . flm d .
El
Unit truscs
Unii ttustS are offucd b y in�"'e$tmcn1 uusu, which puul fflc funds e.IrmaU in,'altofl.
Unlt tlru.$t$ n.tc m:t•'laged by fund m:inagca, who im,'éSt d,c fi.uid'$ apim.l i n c,td cr <O
Khirn: Cilpilll g2ins !llld it\00.I� for thc (un/5 1.n�'e$r(li,:. 'The co,nmissi.011 on unit
tnn1i on va.ry widdy ckpt:nding on thc- com�ny :i.nel tbt: stylcoftbc fund. f.ach unir
ttus1 h:is io- 1.JWn itl',Ut:g)', th, invcstor:i are :ible t'o find a fond whkh b 1 s iu d.eir
c::s
u
objeçti'llef. lhci'é are fou.rm:Un vruktin of11nlt tn!.Su: equity funds (no«:b), fut:d-­
incomc fuods (bonds), mOtt<·y-mari:ec (unds and pr,opcny (unds:,
'°
m
Advc:nturow invcstors ,end 10 coi.effl.uarc- on
�•)' ln�u-ncncs. lbcy:arcopcn 10rnorc
tisk a.nd are pqwcd to acçept brgc ,bort�
n:-:rm swini;s in nurlm pcrfonn.tllcc oa :m
annw.l buis i n offler ro adti("Y( la,gr and
(tu.ok gtowrh ntts. ·thcy spcnd a lot of time
an,a.lyii.ng a.nd cb�in g «bdr i� uncnu .incl
ar,: rn,1 11fuid ofl°'ing money ,n tbc s.ho�
tcm1. Thdf housdw11d incnmc b su bsu.nt1.il
,
and sccurc and d�ir im·otuieut tùm: (nmc 13
IS }'e:trs\ or mon:.
.
\'(•DI) are rhcy. High net \\'Onh inVCf«.'ltS likc:
s
\'t.'a,n=:n Uuffot or pn:/qslon:tl mi:b•
Th� oontrarian i.o,'CStor
Gmmuian in�'tStoa- .1lw.ayt qlk'.Sl"Ì1>n thc
oon,·cnùc,n;aJ wisdom onn,'Cltfog. lhcir
appr<*'.b i.s ro buy inwaments which •� 11ot
prefcr«d by 1.be l'fl.tjoriry in\'CstQrl" 20J vice
vcm., ThdrpbJle»ophy 1sthai st0ò: whidh if
c1,.rr o1dy undC':n·ah1td by lhe 1'1mktls will
n:bound soor11Cror lut:r. So, for examplt, 1.hey
ofit:n hold Oll W thdr invcsanc::nu1 (';'Cll whcn
tbey aintinuc io �I m valuc.
\l'1,o are- 1h<y� Profcssion.;1,I,, mch .l$ d 1;,cron,
a nd profosa..ionaJ u·.idca .
or
77
Dab1s, sal/lngs and
investments
Business Skltls
Negotiating: Aehieving a good deal
1 Think of a negotiation between a team of b uy ers and a team of seUers. Which of th.e
following statements do you agree with?
Eacti par!Y has to
prepere a varicty of
options befo�hand.
outccme.
2 Deborah Besser founded a start.up just sh ortly after her graduation and within only four
years she has developed it into a very succes:sful business. listen to her appointm.ent
wlth o finonçiol adVi$Of o! her prinçipol bonk ·10 talk oboYt inve$tment opportYnitiC$,
Whlle you a,..11,tentng mark the f ollowlng ,tiltements tru• o r /al$e-.
INO
I
2
3
4
5
6
The im'éstn'lent $hould gll&'anooe �r an inco<né v..i,en she is old,
The investment advisoroffers her an investment fund which suits her ad\<enturous char.:,ete,.
The fund on offer is an international fund in\'es.ting mainly in emerg1ng martets.
Deborah will l>e charged three sets of rees if she bvys the fund ottered,
Deborah consJdcrs a fixcd dcposit account robe a suitablc invcstmcnt.
The rerum on commerciai piper is higher than that on , fixed deposit account
3 llsten to Oebor-ah's convers.atlon with the bank manager agaln and summarize what the
parties have agreed on.
4 Discus.s: the f ollowing questiona:
Skills
78
Conside, Oebo,sh's situation and decide if she
made the tight invesunent choices.
2 An 01.1tsider could gtt thé imprésslon that
hagg.'ng oter such smal peroentage points on
the l!!Xtra charges isn't wOf'th the effort. Would
youagree?
3 Ha.-e s look at the ibcwe stitements about
sucoeuful negotiating again. V/hich of mese
statements. would you Ulf, apply t o the
negotiation between Deborah and the bank
actvisor?
Business Skllls
Negotiating: The key stages
• I think I could make an e.Kception ·�
• I think ·M! have a deal.
• Iea.n't go belc:w 1.25'.C
1 Negotiations can g o through four stages:
•
• What do y<N hM 1n mln<f?
discussioo
• I et me s11mm111i1e ....tlar W! htrvP.
proposals
bargaining
•
;,zrccd on ..
• I think yoo should be offe ring mc bcttcr
roaching an agtool'l'k}nt
eonditions.
On the right you will flnd phrases used when negotlating,. lnsert each phrase lnto the
• l'm sony but that·s n()( good encugti.
mlnd map.
• Alright. but only under the condilion
lhat ._
2 Listen again. ldentify the dtfferent stages of the negotiation artd eheck that you have
• What doy(AJ want io l�$l for?
• leoukl offcfyou.-
eomp�ted the grid eorreetly. Comp:ire your results In elau.
• What about __?
Stage
Purpose
Phrase
Chocking­
the other party
w..-...
................................
...........,................. ....... ..
Frm
-----'--'-"'--,:·
......
................... ................................................................................... . ..............
Tme1ne
79
Oebls, saV1ngs and
investments
Business Skllls
Negotiating: Getting what you
need
Successful negotiating is not about pushing through your ldeas but about taklng: both
your and your eounterparfs interests into account. Spend a few moment s playing.a new
version of The Harvard Orange game, then diseuss your results in class.
Situatio,n: There's only one orange left inyour ,es:idence hall and no eh.ance of buying another one
anywhé<e. Both you and your flatmato feci you noc,d me or.,ogo and ha"e good roasoos for chinl<ing
so.
I
You oeed the orange to bake a ceke tor a friend's graduetion perty. You een't do i1
with anythi1'g other than the orangc bocause tho skin of one whole orango is
essential tor the sucoe.ss of the recipe. Whot is mo-re. your friend is expeeting your
famous oraoge caKe.
i=lole plny· Negotìate your dream car
Student A Ms been tNnl<ing about buying a car for some time. No.v a frfend of a friend has offered to
.sell his car tor $5,000. Student A htis decided to talk to tht l>ank about a standard loan to buy the ear.
Student Bis the bank &eMs0<•
.. SttJd«JtA pa� 126
Study your role card. Work out your objectives and any conce:ssions you could make.
Then role·play the negotiation.
Yo(.l a,e the bank �or. 'f<>vr bank can grant loans to students who hiilVe no orno reg(.llar
incomc only undet the following conditions:
1 the bòrrower nat00$ ti guaranto.- (a guattintee at�ngement)
2 the borrower owns as.sets which can serve as a guarantee fa pledging arrangement)
Your objectives:
to sell a pleding arrangement based on flexible borrov.,:ng rates
• to mak.e sma!I conoesPOn on fixed borrowfng rates ont,, if another
bank p,oduct is purchased
What you can offer.
a fix@d borrowing taté ol 7%
• a flexible borrowing rate of 5l
• repayment period of three to fwe years
The b&nk experts expect ir\terest rate, to rise to I� for IO&ns and 85( for
sa-vings in 1he next two yea rs.
80
Coukt you glve mc an Idea of yoor ••?
't\hat do you su.ggESt I 00?
How important ls it for you thal ...t
tf I w�� in your position I woold also ...
Ou, experta say that _
Ooyw reel yOU can .:cept-?
GBI BafX is Europe's leadilg sustaKlable bank -with its
head olfi<e In the U.K. and branel1&s In Swe<len,
Getmany and lt.aly. Il I$ a bank whlch pridts itsetf on
ds transparency, and whtch lends money only to
organilations which create real soci.a� environrnental
and cultura! \'alue. soch as charìlies, sodai
businesses. oommunity projects and environmenttl
initiatives . Unlil.:e omo, fina.ncial otganizations whlch
use negative léncing erlteria ft. t. th&y avoid
businesses in\d/ed in child labor, etc.� GBJ only
mW$U in cotrc)anies whicb actlvely pu-$ue sodai.
environmentaJ and cultural goals.
Nonetheless, the bank offers the fui 01nge 0tf
seMOes of a normaJ comm erciai bank: saving5;
accounts forindividual customers. current accounts
for social ventures and eharitics. vafious fo,ms of
business financlng and a wholé r&nge of g,Hn
mvestment funds.
(;81 is nor quoted on arr,• stock E"..xchange. Growth in
its share prices ha.s developed as a res. ult of th,e
bank' s succes$. In fact, the bank didn't suffer during
the financial crisis. On the contrary, the bank's
ba!an,ce she-et graw by 251 fast )""ear bteause
business.es ànd lnd11.•Kiual savers were looklng for an
ethical attemat1\-e they kMW they could trust. �nce
then (;BI has set up strategie amances with like­
minded banks in other European countries.
Recently the oonk was epproa� by Acosra RclJ/,
one cf thé target privatcly-<WwnCd 00.nks in Brazil. and
was offered a 259' stake ln its bus:iness., exctu1n,ge
for GBI Bank's know hcw and credibility,
lhree years ag,0Acost<1 Rsal st.arted to tum aie
long�stablished bank into a green bank.
Although praised at the beginning for its a"lit1.ative in
offcring soeio·environmcntally rcsponsible bankir,g
products. it has more or less failed to establish itsetf
as an cthical bant on thc Brazilian market a:nd has
OOen Joslng customers rapidly.
An alysts have identined two major reasons. the
bank had tailP.d i n its audiring p(()Cedures on che
groutt1ds of misinformation or forged company ..eports
so often that NGOs started questioning Acost'4 Re>Ql's
assessment prooedurcs and s-:opped acknowlc:dging
tOO b�nl:'s commito�nt to soci�I respons.ibility.
More-aver, the ml�c,edit market didn't Ove up to its
p10-mlses although u,e bant hàd itwested a lot of
money lo overcome the skepticism fett by small
busmess cv-nera in 8raz:il's shanty towns.
•
•
Web research: Finding the
io
right bank
8uy1ng a home undetshar13 usu&ll'Y 1nvolves()l'le of rwo cypesof
Ho«llil Purcha,e Pla1U. Undsr an ijara or lease 01:cion. the bank buys
the prqiel't)' aod the diant pa;ys rent lO the bank.At the e.nd oftbe
1erm. 1he bank han-ds the CM"nel"$hlp of 1he prope,ty O\eriothe
ts dient. Alternallvely, a murabha OI' pan-riershlpa(l(lroocb mean$1he
bank buys tbc propcny witb tbc cli€lnt wbo thcn mokcs ro_gulo.r
paymems to grod1.:1aUy assuir.e ownership. In botb cases, tbc bank
stmply n.cld, tts costs totbe price of the prope:rt'; wblch tb!? c&nt
�Il h3r.k 8� Jl8ff l)F(hf! •holi!.
lf you werre going to study a t a foreign university next
semester lt would be a good Ideato open a current account
for the time you were there.
Decide 011 a countr y and a town you woufd be interested in,
ehoon two or three banks in this country and find out the
eondltion.s for holding a curl'ent account
Report b�ck on yovr research in next week's el�ss..
Reading: lslamic finance makes a
move into the mainstream
?;'1'lllil•
' ¼'J.lffi0''1'�
�
J..:.1
L
1 Read the followlng text and flnd out about the dlHerenees
between conventional and lslamtc banking,
Then: h.1s �n, s11b.stan1.1,1 Mu$lhn oo,nn111,1ity in che UK. fo, al
lt:11:il aoo yoi,rs, � U.K. li11anQul comJÀlnieS rnuy huvc- lic,c::t1 a liult1
slow to cater fur their monecary oe:eds. But mal.nstream finanriaJ
groups ere quickty wakl:ng up to tbe fact that tbere 8l'8 s,ome 2
1 milll(ln Mul\lhn.� In IN'! U.K. "'-'ht\..� fiMrw:131 n�I$ t1ì1t(;I bP. MP.I, M
wen as 1'!'111it More oon-Muslln'IS wtio &.gree "' ilh the1>1h1a pr(lm<11ed
by lslamic law, or sbarla
Shitri,11 SiM'!rn8, arn<••S c11hi:rI hir1gtt. • Mu.$1im's «no1.if1tlc and sotiitl
lilè. didati•l& bow belJ�rs should <xnu:loct l.hem$el�. Il f01t,ids
10 oortaio ac.tlvitlesan d transaaioas; those invaMng alcoOOI !l.nd l)C*'k·
re.laled products. b11: a1so armamenlS, gambling, pornog;raplrf and
ocher actlvttleS deemcd sOdally OOCtlmenW,
Baslcally, l:slam pbces oo lm:rloslc \•aJue oo mooey, s o eruoiog or
p11y1n� h\li!:�111 !rii�) 1, p,diihilt!d - ruling ou1 ,ti., maj( 1rity of
11 cradJU<tnal Mc-rtg&� lnve�rnents. .s11111ng,, and lnsul'{ln,oe pnxluas.
So financi.1.1 pravi&trs ha.va hlld to do &Oml CM!ti\111 thinking. Tbe
resuh. bcM-ever, has been tbe launch of a wealrb of OlW>' interesting
and Innova.ove pr«lua$ - some of whldl are n,ow starti.hg 10 QpnJrt
the .auentiOfl d non->,h,15,lims as we.ll
82
Morcg�s
>o Bot:h optioos could prove interestlng proposil:ion.s in ao unoertoio
f!oonomfcclrma-1@, r�11rdless c,f)®r rl'ligloug; 1nd1n..11on, S3)'§·recw
Mr.Gah.'1n -0f 1he ir.de11t.1)1!,i:m rinanet.JI advl.:.erWorldV1i1le fin�1.r.1al
Pla.nning. ·These approocbes oould mcan tbat a home owncrmay noc
ba'\'e to worry a.bo1.1t t.he un.oertainty of in1erest races. fou know
>) exa,r;tly how m\lcb )'Ou wlll need IB regul�rlybudget and how much
your ptope.rty"llll CO$t vou In 1he end... Bill. he. 3dds, 1here l'IJ'I'!
pcteotial pitfalls. • �ar io mind that, pa,ticularly witb murabho. you
are pa)'i1t3 a highe:r prioe fora jnpcrty in a falJing matt.et \'ou are
lncreasing yourrts.k of nega1tve equlty, and thlS could mean you wtll
'° be unabJe to mCJVe agaln In the short ierm. �
An l,bm1ecumn1 ,ooount wiD g1-.. you 11!, $lM• béMfll, u,
srnMan;l aoooun1 when il comesto cheqoe books, diebi1 catds. tt<:c:�
to ATMs. online b.nking oDel
. regularsu1emcnts. 8ut no interest is
c;"o paid on belaoces cr cilaJ1ad on O\'erdrafts. so baoks will go afte-r )'OU
Oll borffi'o\lflg fees. Y(lu wlll often have to ketp a s.l!;nlflr.anl a.mou1-.
In 1hf! •ccoul\ll lt>ft. ,Tlid �ing charged. The mlnlmt11n lnpu1 IIW'
&Wiogs lliCCOU.Ots con be fàr bigbertJun otherprod:ucts and 1be
•prort1· rate • geMrated from ule and least1 sche.me.s rather than
so lnterest-ba.s:ed bor:rowlng - t,: rarely market-leadlng.
J11lam1c ln\tstrnen·1 prndu<ts are boomtng and even ihe U.K.
G�mmen1 ls Nmored to be consl&}.rlng a sul:uk. or sbarla­
compliant bond. Ccn,-entional Western-stylo bonds offer invest1>rs
s� ir.t.eNISt p,:ayme.nts on the .sums iM'Hted. Sukuk boMS mprcsen.t
partiill owne.rship oftbe undertyiog assct &cause tbe focus is on
real &S.',t:!{� sukuk bùnds J)t(lfeCI 1.....est01"S from geartng or le\�rage whf!fl 1he bi>OO pr(JVkler bOrr<lW$ ll&fìlnst il l() try tO llOf.61 rens:rns.
lfyoo are looklng for 1meary lisi ofwha1 $Nrla does and does not
,o rnean for yootfln11noas, there ls nos1ra1gh1forward ins ....tr. For rnost
Muslims. «.hc Koram ar� Sunna, thc hol)' books. are open to
imrprotation. Alt'.hougb U.K.-domidled fina.nclal companics aro
�gulated In 1b:!1r'hUS1� dealrngs hy1he FIMnda! Sal"Vklf!S
Authotlry, rhey 111� gu!ded in rhelr 11haria oompllance by \';t,rlOIJ.$
,� sdlolars. This me.ans that tbere is no absoluted,efinition. of what is
and wbot is noc oonsidered sharia-compUant persona! finance. So it's
lmport•nt ro ched,; each praviderlt' ptooeSl'if!5 before sfgntng up.
ll:!la� fillCO Tld!M�Wlifl'IW
8el'1N you v.111 flnd a 11st of feetu,es which desc,ibe
eonventlonal or lslamle banklng. U&e the grld to asslgn the
statements :o the eorresponding type of bank.
3 Have another look at the te�t on pa� 82 a n d match the
terms on the left wlth thelr definit lons on t�� rlght.
•
• do no1 l)lly i1W@n'!SI on OUtW\1'11 &CCOunt/1
• grant �·cstors parti;,1 owner1Jh\p on real ;met:s
• p;rf inbrc-St to im.•estof'S
• ùiare protita w'lh holder! of sMng aooounts
• p;rJ inarest on sa\'irigs arnt current accouna
• charge inte f\'St on werdrafts, loa ns<1nd mortgages
prot.bited
2 own&rsh�
3
pro perty
4 asset
5 sta:ement
Conventional banks
lslamic banks
6 compliant
b illeg•� formolly fort»dden
e in accordance with �s ot stand&t'ds
d an officiai documéf'lt that ists the
•
2
arnount-s of money paij inlo or taken
out of a bank account
errf prope rty or possessic n ,egarded
as having valoo in meo1ing debts.
co11111,il111tmllj. t,(c;.,
f
4
,th o,;ned, espe-cially land and
bui1ding-s, etc.
lègal possesslon ol slt.
Choose a nor,-Muslim country to research. Would lslamic
banklng provide retail banks there with an opportunity to
open up new markets? Argue your ease in a short
pat11gl'aph.
Whlch bank products :md servlces from lsfomlc banla
wuulJ W fHllÌ\.:ula1ly i11te1ebli115 rU1 m
..n-Mublimbf
83
I
'
Company structure
Warm-up
Leaming Focus
• Oescritiing the sttucture of
o,g,ef'IQ'111lon$
• Oe:;cntilng one's poslt1on and
role In tm OrSJ'Nuitlon
• Wntlngemail ÌrMtiltlOl'i$ to a
mooting
• Patticipating in a meeting
• Chlllriog a melMir'lg
...,,
Anita Roddiçk
Self Study
,
811
..•
..
.,
' ,J'
·'':
.;.
Evan 'Mlllama and Blz
Ston,e, two of lwttte(s
tOtJnelers
$ittirig Bui!
AII of these
peopleare or were leedets.
Mow woul d you deserlbe the o tganiutions
they lead or led? What do you knO'N about
their organiufional styles?
MahatmaGandhi
• ÙE'partments ola compa�
• Reported sp,eech! whet tfte boss
said
• Opel'fflg and clos;ng a meeting
• flie im porunee ofninutes
On<ll:t q;,ln the &hi;,r,!c lntem
d�p tnd and
has to ch:ar a difficu'tmeeting. C an
h
t e team find solutions toge.het'?
gtili thrown in at lhc
General Georp W. CaMY
Listening: Spider and starfish organizatiorns
1
Would you s ay the follOYr1in.g featuru are c:har-acteristic of centralized or decentraliz.ed
orga nizations? Tick the appropriate box in the grid.
centralized
anibiguiry
OMrchy
CEO
ooe-rciw pc,,,;,e,
command
eontrol
di,trlbvtcd power
flexibility
headquarter s
hlerarchyleadcr
IGOOCr&hipby(!>eample
norms
ope-n sttueture
t\110$
WredpoMr
84
decentratized
both
neither
•
2 Usten to an excerpt from, book comparing c:entralized and deoentrallzed
organ lzatlons. Compare your answers on page 84 wlth the lnfo,mation you htar.
�
Vll1it- w1ili,,5 J,.... t, IJ.,,�-i. ....l i1151.x.tul:. TIit! Si.oJ n�b ,mJ tht! Spld1:111. """ 1./11:dl.liJl><II.Jf:I Pvwt!I vi
l. eaderless (Nganizadon$, Ori 8ratman and Rod Becbtrom intefViev.<e:l the anthropologi st
Tom Nevins., a speciaSs.t in the hi.story of natM! American peopSes. I-le explained how the
Spanish invaders had been ab)e to defeat the Altee empire, destroyirg the capitai of
Tenochtitlén, 'Yhi!e ne�r succee<fing i n subduing another people, the Apaches.
3 Con:s:ider the fotlowing types of o rganizations, How much centralization/
decentnllzatlon ls useful or neceuary In eoch? Olscuss thls In eia$$,
a university I an NGO I a self.help organization I a car manufacture, I Ml army
Readin;;;i: The st.ructure of organizat.ions
1 Olscuu the following questlons and wrlte down your answers:
1 What is the purpose ol an organization?
2 H,ow d o the tounders of &n or@rlization decide which structure tt.ey will use?
3 What do )OU expect companies to look llke in 10 or 20 years?
2 Read th-e te)lt below and answe, these questlon,:
1 What ,ea&0ns are gj\-en fOI" creata'\g an organlz:ational structu-re?
2 Why would a company change its organizational structure?
3 What orediction does the author make aboot the structure of oreanizari-ons in the future?
Organiz41tions.: Pas� Present and Future
E\le,y °'lsnizalion has been esubfished for a pupose and
thereforehas, implicidy or �icitly, a rrission. Hcw elfecMty
the mis:sion wt'1 bt accomplishcd depends to a large •xtent on
thewl/j ""' orgtmlzid:.m ls stn.,ctured.
, fwo crucial t.lctor'$contribute to lhe strucn.re of an organization:
errnof'JTltrC: - trJ whictl we mean e<.temal forccs such $$
markcts ind gO'o'Crnmcnt pol!acs .:iM thc compk:x«y of thc
work lo be done. The structU'e i'J.>,ontees th;:,; trere .ire 1,orm.,1
ehonneb �f eommunication :ind offickll eocouritiitii!i.!Y for t&:sts.
io lt elso ma:�s i1 possible 10 del�gate decisio n making.
We can dstl11&uish two baSlC types al dlffcrentiation within an
01g<1nitacm horilonl:•I and ve1ti cal Verde.il dlferen11'1tlon
divide$w11rk eoc0t'dt1g l<> le,.•el of authority, with lhe hightflev-elt
ecetcisill( more authori;y tNer lhe units or em(lloyees below
15 lhem. Genera!t-,, �n 0tganiza1ion has on�· Ol'I!' verdea! lsyer,
....taich rre1 be dvided t4I into numerous horizontal tiers,
Horizontat differenti.:ition imans that the total work to be
perforrned isspGt imo opetatiooal ta!llcs. Oependingcn the le\-81
in the orginization, lhe Ll'li1 may be a division. a depar1men1 ot
10 an ridlvidJal. Such units are represenied � rectangtes, in an
organizatm ch.:irt 0< o,ganig,am.
Orgtl'IWtom m.,y be elther toll Of flot. A tllll organlzotion h11s IJ
l�ge 11iarber" rn1Jniit,:mertt de,, wch ,ellltM:ly fèw pwple in
ew.:h hoti!on1.al le.o@I. wlile in a 1181 <lfgarii.aliM thete .afe f"w
,... hotizontal tieni but each tier contai ns a relati-.E-ly lar!J! number
of !'ll4n,gm: acwunt.ible to e•dl '141Crì'oc.
The struel-Jrc of en o�Jt1lz.tiOt1 ls not $1Jliebut ç&f\ ch11nee o...et
lime, as the business environment changes. For eic&mple, in the
ea-t,, 1980s. Jack Welch, a former CEO o.f Generai Eleotrio. spit
,o up the hwi'Y oentralized compa,y imo independemty acting
dìvisions. lnthe late 1980s. EdgarWoolard of OuPont &tream6ood
dccisien--lroktng O/ oiminatng the Excootive Corrm1ttoo and
reqohngth.ot department ��rs report ci,eetly to the CEO.
Ouri11g the twenòeth cenu.rry, 1he Uni:ed States witneued the
» gn:M'th o f larg,e oer11alize:J business o,ganizatbn&. Many o f
these had h!Javi!y butellUOtè!Cro structures. v11th t ho decision­
m�lng p1ooess oonoeJ1trated In lhe ht,nd:1 of lt1t CEO ;md the
lic){:111;1 or <l,eçl()lis. Thl11 fyJlt of ç<;,m1>1111y hit!S l"" �dvf.rC�ge Qf
being �e t o co-ord'ioate higt,ly specialim:l �roa:-saes. On the
40 othtr hand, thoro aro SC"IIO"ral inhcrent d1s001.>ntag0s, For
exwnple, the CEO, beoal.l$C d the sizt of ;he comp;rtf and the
compltxit)' or il$ ct)e1'8lions, �Y lo,e tooeh with lhe d•i�
bu,inus. � .:!I tt,$.11: ,:,f the impcrson41lity, ke!i� of .tlen116ori
m(Jf develop among the workforce. And finelly, there ie the
n difficulty this type of organizatfan has in adjuningto change.
Oeoantra!ization i:mplics that aothortty ispasscd 00YoYl tho Jevds
to thc cmpfoyccs who porform thc work, BceilUSC dccision
making is: deoentrali:zed, the «ganiution has the :,c,wer to react
quid::ly to changilg local conditione and dem.nd:s.. Thi& can
» rewlt i,n a Mfl$8 ol ffllpov,.rment amorig the ernpfO)Wa, f he
m�t ex.tre mc fo,m of dt<lemahzabon ;ire the P2F !peer t:> peer)
netwo,,ki on the lntemet which permit the d11eot 1,.er of fi'es.
Of oourse, the teality i'S not so cut and di.ed. Tod-"fwe can tind
maoy otganizations wìh bodl cent.telized and deeentralbed
S:S features. One of the earti�t large companies » in00<porete
deoentm�d eiements wH Toyou,, wh!ch devo!IICd lnform�ion­
gachering and 6ecision-mating to the WOtter teams in its
manufacturfog plants.. A more race.nt example i9 the online
auccion house eBS}•. eBay uses decentraUzed US?t ratings but
60 h� introduoed the on lire p3)'m?nt seMOO P.rJPal to pro-.roe ihe
ooocssary oontrols for scouro money t,ansicrs.
h I:, .,_.t,c;,Qt;ng t<> �çvlotç on tl-.ç Qtf;onltot.lOO<> (� wç will
se-e eme1ging ttt the lv..eruy•fll'St centlll')' unf<*d$. f&oilil&eed by
Wl:err.,et and mobi!e oon,murioauon, technolo;:jea. We can
M e,rpect larg,e, p�loo:sly centrohzcd Otp!l'Wlt1om to introduce
more i,n:S more <.tcoe,itralited eltmenbs, We lift ttlSO likety lo
witrl:$$ a pu,�r�11'{Ì:)1- (I( pzp l')(!lw<Jrk-$.
85
•
Company structure
�
3 Have ,nother look at the teJct on page 85 and m.etch the terms on the left with thei r
C""l),,ring .ind C<ltlfl'wing:
tjpes oforgffiatio11
d•Rnltlons on the righi.
•
Grammar
the circumstances in which an actMly takes piace
b the people i"I , company who make decisiOfls on how the
companJ is to be run
e the feeling of RO{ belonging to a perticula, groop
d a sudden inc.tease in the number of something
th& $tate- of bel.ng responsfl* ror somtthing
I to tran.sfer power from a centrai authority to a lower IE!'tlef
g one of several levels
1 accountability
2 erwironment
3 tier
4 b()ard of directo<s
s a1ienation
6 dl:'!Yclve
7 prolifel'8tlon
•
4 Using the categorie, In the textbook e.xcerpt, de..cribe the organintional strucWrfJ='
a
•
m
represented by Hch of the dle_gr'ams.
B
•
Diversity
(
Organization and culture
In difterent part$ of the wor1d we find
� difterent organizationa1 types and d ifferem
corpol'8t.e eultures,
i
In h s O(NI f&mous book Rkf,ng the tt;We.s of
Ctitl.Jf6. the <:uh:uta l reseal'Chet Fons Trompenaars
Cfeated four metaphors for corporate cultures. In a
nutshell, he says that corporale cultures and their
national <:ultures often fit together. In other word$,
when stuctflng country o, regjonal eultures_ we can
ieam a gfeat deel about how companies we
l
organized the'8 and how they m gt'lt tike to work..
look at l'he diagtam oo the right
Read lh• brief definitions of eaeh of the main
types and answer the questions below.
Whau i s the connection between culture end
compall)' 1ypel
2 What rype of organizational structu,e do you
thi'*. is "'aditioll.81 In your cwmry7 Does this
differ from btanch to branoh?
3 Which metaphor do you associate with the
lollo,,,;ìng C0"'1lries: China, U.S, Japan, ltaly?
86
..
Futfillrnent-orlented culturt:
Pro)ect-orlented cuJture
lncubator:
Guided Missile:
providcs oely 3 minimum ol
structwe, ju$l enough tò make
workers feel at ease and able
to .coompli� their worti:
oreowely.
focuoos on accomplishing a
task. �xiblhly and
responsiveness are more
important than structure.
Power-oriented culture
Role-olionted culture
prcwides close. personat.
fae&-to-face contacts. The
boss � l'ISpt,Cted fot hls/her
experience ano auth0tity.
an impersonai, bureavcra�ic
dh'ision of fabor acco«:liog to
func.tion.
l To
•
Discussion: Talking about organigrams
1 Have a lookat the organizatlon chart and complete the text below with the correct form
of the words from the box.
1.1ar1<�t1no
C<Xt1n,u-•c;<rll<J11.,
Dt'"'�tJ, S<Mllél.$1.'-"'
Ptvùu�tt.'�t<llll<J
[)l",>,('.r,�t )Il< I< p.,j<">oJ
-­
[),rf<.<tr,1 H,,nk FNY
-
I used to wort fOI a company which manufactured personaI care and food ptoducts. lt operated on
a gtobal sca 1,e, with a·-··
___ in éach of the fìw oontloonts. The ope,ations in each
diviSK>11 werefurther split into service
• which were further dNided up into
departments. I worted in the Sales and Marketing department a.nel
Jack
Pelosi, I was .
m11rket research and had foor
assi$ted me in my job. I Ol'Mlt met led Uoward, but i know ho was ....
teo°',lntatle to
drvlsion
report to
respMSbfe lor
sub0<dS'late
who
tM
e>«!cutive vioe-president Tom Stevenson. Tom. in charge of the North American dNision, regarded
himself 3$ a chafismatic leader, but his employees thought ho was arrogam. and SteVenson and
HO'W'dld didn': like each other very much.
Vocabularv
2 Think of an organization in which you have been invotved o r a company for which you
h a ve wor1<ed. What was its structure and what role did you play in it? lf possible, draw a
diagram rep-esenting the structure of the organization.
87
Company structure
Business Skllls
Meeitings: Getting
ready
1 Think of a meeting of a project group at university. Which of the following state me nts do
you ag:ree with?
Mcetings <1re an
ef�clive method or
fiOO,ng sokJtlons.
Most meatings are
a was!e d time.
2 The following emails are all invitations to a meeting. Write the correct meeting type in
the subj,eet llne.
3 kiek-off meeong
4 progr&M meeting
1 a,nnuel meeting
2 team meetilg
J.rom:
To:
Subjcct:
matthew.watsoo@interco.nét
li,l
Mira Haf'sett; Jane Gooclall; Stmon Fvnn
Fn>o1:
Jo,-.es@wintex.com
To:
Grou,p Prowlnd
Subj<.-ct:
oear all,
oear ali,
Alter much prellmlnary dlscusston about our proJcct. wc
would like to lnvite you to oor first foC'..e•to...fac.e meeting
on Wedoesday of 1\8xt week, May 24. we are looklng
forwnr'd to gettlng to know nll of you petsontilly nnd
settlng up a tlmetablc for our work together. You wifl flnd
a de4:ailed agenda in the atuldlment.
Thé meeti.ng wlll take piace at out headquartefS l.n New
Haven. Our receptionist wi11 direct you to our meeting
Wc are happy to seo that thc ftrst phase of ProJcct
Windpower has been c.ompleted. It is now time to meet to
compare our experlence and make plafls for the next
phnse. We woufd like to schedule li meeting for Monday,
Séptember 1S and hope that ali of you wlll be abte to
come.
Please give me a ring at 743-85331 to conflrm your
attendanm.
room.
Best reo,-,rrts,
Pamelts Jones
Piea.se don't hesitate to cali me at 682-51437, should vou
have a11w questions.
Since<e:ly,
Mattiew Watson
from:
To:
Subject:
From:
Willlam.Grey@heitmann.oom
t<blhy Hopé; John T1Jylor; 5am !Qly
B
ll's ttwit lime ol U1e rnonth again. can we gel togeU1ei
cat1y on Ft1dav aftcmoon, Just long coough so tnat cach
of yoo <.A.n 11pd..1te LI:!. on any m.-,rtcet r.hall!Jes slnc:e our
last meeting?
Bill
Subject:
caulfteld@ac-lnternatlonal,com
(undisclosed4 recipients)
Oéar shal'eholdM,
This is to remind you that our yearly meeting vtill be held
on Thutsday, 5epte1nber 17 at 10:00 a.m. The veoue is
the Palrn Roorn of lhe Plau:i Hotel in Palornina Bellèh. We
hopc that as many of our stiarcholdcrs as possible wlll be
ahle to attend.
A detlliléd agendll is attached.
Hi 9uys,
cu,
To:
I
Slnccrcly yours.,
Adam C.'lulfìeld
Chaionao
3 Whieh o f the invitations ab ove includes an agenda? What is the purpose of an igenda
and what lnfonnatlon shou Id lt eontaln? When t s an agenda not neeessary?
88
Business Skllls
Meetings: Acting as the chair
1 A formai meeting involves- a chairperson. Whlch of the following duties should a
chairperson perform?
Skills
welcoming the participants
taking the milures
apologizing for an absont participant
asking (Of approvai or the minutes or the previous meeting
cxplaining decisioos to the partidpants
pushing lhrough thelr own ideas
irnol\ling eaoh participant
setding confficts
summariziog thc rosu1ts of the meeting
setting the date tor the next meeting
2 Sandham & PtNTY ls a Brltish manufacturer of hygiene and
beauty products operating worldwide. lts present CEO,
Margaret Perry, called a meeting of its regi on a l vice-presidents
at the he adquarters in london. This is the agenda that was sent
to the particlpants. OiS(;UU the main features of the agenda.
Strategy Meeting. S&P Headquarters, London
Morçh10
Partici pants:
Margaret Perry. CfO (Chafr)
Susa o Ouest, Persond Ass�� (mi,w1es)
John Hockoey, President dflhe Board
Ctfde Em,,
VP No,th Ame,i<J,
Fernando Gonza.lez, Regione{ VP Larin America
i
An ta Gupta, Regional VP Sourh Asia
Yee Fang. RegioMIVPE8srAsi9
Jorg Krimer, Regional VP w,swn Et.rop,
Igor Smirnov, Regional VPfastern furope
�°"'"
Item
Time 1lot
09.00-9.45
• WelQOf1ie
• Sc.1tcrr.cnt from the Prcsidcnt of thc Bo�rd
2
4
09.<45-11.00
• RevieN of ltit �ar's fl'lancial resl.ftS
U.00-11.20
Coffae�
U.20-13.00
• St!mtl\{lry of consl.ltant'stepon
13,00� 14,00
5
s,,,. r.,lunch
t4.00-15.30
• Restructuring measure s
,s.30-16.00
l:hik fcr coike
6
16.00-11.00
• Redefining of VP role!t
7
17.(10- f7,3<>
• A00
8
17.30
• 0-,tc 3nd time olnti1.t meeting
• Adjoumnwnt
89
Cornpany structure
Business Skllls
3
Usten to the first part of the meeting: whlch of a chalrperson's dutle& dld the CEO
perform whlle openln,t the meetlnR:1
4 Listen to the second part of the meeting and answer the questions.
V/hat change is t0 be mìKle in the comp,ony?
V/hat probiem arises among the participams?
lfow doos thè chai, deal with it?
5
Now listen to the last part.
HON does the chair end the meeting?
• V/hich oi the points in the agenda did you hear covered in the meeting?
Role-play: Committee work at
university
Divide up lnto group.s of six. Decide who wlll tske the mlnute.s. The other flve
students wlll read thelr role eards. Then, In groups of flve, role,.play the
situation, while the sixth person takes the minutes.
Agenda for the meeting
•
• SllJdMI 8 pago 127. Studenl C page 130, student D pago 136, Stud9nl Epage 138
011te Of ttie Ope,1 House
• E\'tnts to be incfuded
• FinonclngoftheOpen
Mnust
• A08
I(} P.artic::�t.;s n meetngs
We'te here toch;< to di$CUS9The fnt item 01 the agenda is_
Let's keep in mnd thwi ·tt looks .,, thol#I ...
Can I come h t�re. pleaui?
The VtaiJ I see thifl&.$ -·
I don't qu1te setwhat you're getting at -·
Furd1 hnN i,:; ti• enine '" wnrlc?
l'm 1ò-aid I missai thai. Would yo.i mind
gOil'I& 111er e ostin?
We'ro n,oningthort of time,_
90
I
Situati on: The 8u$ness Stvdies department of Winstead Metropolltan Uni,ersity has
a problem: in reoent years enro!lments hM been falling. lhe dean thinks cne re.ason
tor this may be that p<ospective students aro simpfy not well tnough inforrned aboot
tlle unNerstty Cle.partment. lhere are seve<al unNMSfty�level insutuuons • 1nc1oomg e
t�hnic31 un;..ersity, a school of nursing. an art academy and., school of mJSic • in
the region, some ofwhìch have beeo more suecessful in marketing their programs. In
view of this, the department has decided to schedule an Open House for secondary
school stuo'enu wh) are ltke� to continue to urW'ersity atte, their sdlool-leaving
exams. lhe studentunion has volunteered to organize the e\'enl. A commirtee is now
meeting to discuss jet&ils.
President of the Student Union
Your job is to Opén and cloSè the ,nooting and bè swe that th& commiuoo eomes to
a conclusion. You realize that the department attaches a great deal of imp.,rtance to
this e�nt, as if eorollments conmue to sink. the unHersit)• will rece...e les� funding
a.od evefYbOcly 'Mli Mfer. Fo, this rea son, it is important to malce the OpenHouse a
suocess. You will al$0 havc to deal with any oonficts that ariso and maké sure that
e&eh participant hM a $8)',
Follow-up:
Write an email t o the Oean of the Business Studies department at Winstead
Metropolltan brtef1y summartzlng the outcome of the meeting. Teti hlm/her
that you are attachlng the minutes.
Rowlirtgs is an Americ:an engineenng oompa.ny long
known for il$ innovati\le products. In reoent year'S it
has undergooe a radical restructU<ing process and
now operatesvirtuafly as a single business unit
conststing of pletform teams. There tS a $trong
teamwork ethie and withln the upper layer of
management. i.e. among the viee-p<eSideots. a
matrlx structure is ustd. The company eS pt0ud or
its flexibiti ty and speed of response and is k.nown tor
its history of oontinuous product imprO'temenl
years ago R..,.ings GEO was approached i,,,
the CEO of a p,estigious German engineering firm,
ludwig He11igmann. Helligmann wanted t<> txpk)r& the
possibilities of a merger, wlic:h Ro-w/ings al that time
w&s reluctant to enter. In recent yt,8,($, hO',',l:ver, the
American company has realì:red thal it will have
uoublt pcnot,ating SltcmationaJ matkets on its own
and is nrJW interested in the synergies that such a
mergerwould prO\lide. He«igmann is confident lhat
with Rowfing� help it WOtJld be able to expand its
mal'lufacturing and sa!és in th& U.S.
HeAigm11nn is a ttaditional German c:ompany
0tganized into 20 autonomous busiooss unit� each of
which operates with a stri« line of authority. lt has a
rigld corpordte hierarchy, and it.s corpcmile cultul'e is
marked by extreme formality. In contrast to RcwNngs,
it ts usual to use tlti&s and last namés. On the whole,
the atmospt.ere at Helligmann is oonsiderabfy more
,.;u1�1't'cttivtc< lhdu dl the Ame,tC,m CU'llll-'òll)',
Each oi the companies would N\-e an equa!
financlal stake in the merger.
fhe two companfes are 3ware of thei, differences.
Nonethetess, each reahzes that it could profìt greatl)'
from the merger.
Se"""''
--::::;:;;;:;;;:;;;:;;;:;;:--,M1tri.t SlmCllm:t A type ol 0(1lnlt.allOCI
=
perm,ulng emplwees on 511edll pn:,joçCJ n>
l'tlpon not: Jus1 «i a superfor oci 1he ,-erdail
dimension bui atro to 9.lpc:riors In Olhf!r
llejXlltmeots. i,e. dial,.-Onally.
91
Web research: Organizations and
their staff
1
Investigate the &tructure of your univer&ity. lf necessary,
have a look at your unlwr1lty webslte or ask a n lnstruetor
or memb,er of administration. Share your finding& in class.
2
Do workers have any repreuntation in company decisions
In youl' country?
u.. the Internet to find out about models of repre..ntatlon
of workeo In dlffel'ent countties.
The followiing otgariiaDOI\S a-e useful s0Uroe-s o f inWrrnstion:
ffl'Of)e,n f()ll{ld11tk:K,I01 tho/mp,()41fm(:r,t ()/ llritf artdWO'ki�
C<KtditionJ • ltirtmaDIJfl1"Lai# 0'8J1Milalion • fvropean Tr.tde UflK>(I
Codedf'/rjtitJri (ETUC}
•
c;ro, Good morning, m:1ybody. Ceo wa gct startcd? k· s ok.e to soe
you ali hete. I kno,,,.• 1hat )'ou·ve rravelled long d1sta110!s 10 uk& pan
In 1h1s ni&?tfng and I htlfl(l 4hr11 )'Outfet Jag 1sn'1 100 se--· ere. rve
askod you to oomo to our hcadquancrs to disçuss our restructu.ring
, plans fnsa:ead ofu.s:mg our u:sual tglecoofcroociog proctdure because.
gtventhe Importane& ...r thf! lssue,. person-n>person lnteMlr.tlan Ili
Vltal. fm afNJld I have ro apolo,glle rr1 Anita Gur-ca. lletplanewas
delayed io Mu.mbiii due to I.be moBSCOn. but she .shoukl burriving
latertoday.
10 ,\S you can siee. my pe.l"SOt'lal asststam, Su.san Ouest wtll be raklng
the mlnutes. l thlnk �'i! can eirpea thls fll"Sl sesslon tD tab! untll
tunch at 1 p.m. We'll be bti!aklng for ccft,,e arou.00 J1 -0',kd.
O.K I t.hiok )'OU an:: aU làmiliarwitb tbc agenda. as Sus:1n scot i tout
SE!YCral day& ago.
1�
tinfbr1ur.at�, °"-e 'li hl\e to !il:lp Ibe fltsi Item, tiS Stew!n Alde.n. i.S;
m . We.'11 srart w1th II brtefl'flf)On from f!a<lh dthe reglM1:d
,•iot-pre.sidenu. Yce F11ng. you bav8 the biggest m,ir).e.t over lhcre: in
China Coutd we gi� you the Roor .. .?
Be prepar-ed to share your findings In class.
Meetings: Knowing what to say
1
The Samfhom & Pcrry
stra:tegy meeting was one
at which the participants
were phy-slcally pruent.
A conference caJI requlre&
different behavior from
the chairperson and
the �rticlpants.
Write a short paragraph
3�
;,o
expl:,fnln_g how they
could di ffer.
2
Sayì,ig (.•.) has permission to speak
Calling the partkipants to order
Referring to the handout .
Atking the participants to speal< ooe afoor the othe<
Saying how much )'Ou've acco�lished Va.om)
Summing •up the discussion
finishing the meeting
lg_o� Please,. l'm sorry, but I
resnucrurlng ..
oon·, see any necesstty forthe
Cl)·de: Igor, please let 1\larganw flnlsh ..
Going over the audioseript of the Sandham & Perry meeting,
find the phrases for the following:
�lling the meeting to o,der •..
Sayiog when me coffee bfeak is ...
Sayil'l8 you'II start with lhe seeond po_,t on Lhe agenda .
92
.J5
CEO: And now l'd llke 1oeome to ,he centrsl llem on 1he agenda. Thls
IS our pian forglooal n,saruaurlng,
Sorry, toold I b.,.,,:, )'tl'Jr attcntioo pkasc?tbcrcwiU be p)cnty or time
for your qucstioos md ooouoonts latcr. As you koo,.•, siooc 198:5
we\•e been OJ)f!C'8llng ustng our reglonal .scruaure. Eadl -0ne o f you
��ldt>..nts bas been In cha� dhJs or ber c:.n dlvls1on arid
reportlng dlrer.rly 10 me. """�w.r, In reoenr )'f!;ltl'l'. df!w.!opmenu In
MW markets buve \e-d usto bcUs,e tbat this desi&Jt is simply D<>l
fku:ib)unougb fw todays dyruunic business eovironment f.or that
reaso,n the bootd bas decided to tmplement a radical new destgn to
lmfX'(We thespeed ot operatlOns. We n(Jl,\•want to lntroduce CB-Us tbat is to say.gencraJ 00:sine:ss unb· whiclt meons we will be
organiz.:iog our product �ty by produci catcgory rathcr tban by
g,eography. lf you look at the handout, you can see tbat In tbe new
struaure ibere are 58.\·en new -·
fcrnaodo: l'm wit b Igor. I don't see tbe poi.nt in a OC'W organiz.iltioo
elr her. Thf! ptel'leot srrlK'fUre has bef!n worklng pe.,raaly "'e.li.
"o
Jòrg: No, )'OU'rc WTongabout lhat. Somed:Msions 01e wcll ruo iaod
otbcrs are occ.
Fernando: An, yoo iroplying Ibat some of us ens tKJt doing <iur iob?
Yee Fan.g I N!altl:e thlS l.s II del:lctlf! qui!Stlon. Marg1ua, but I don'r
quit� &ee wbere wt,'n, going to be coming in with tbe- ot1w aructure.
"'
Igor: lA'lold I suggest 1hat we, walt un11J Anta arrlYe.S 10 di.scu.58 I hli.?
Jt'ssucll in imponant issoo that it SOOUldn·t bedcatt witb "'ithout 1-.cc.
CEO: Alrtglu. could I have y01Jrauent1-0n please·! I know ali -Of)·ou
11.l\·c a valuablc oontribution to makc, IJ:t's take it by tums. Ycc Fang.
1 bclicvc )W had a qucstion ... and a.ftcr tbat wc'U bear frorn Jg-or ..
COO Yl'eD, I lhlnlc \\&'\ie tfP.-ered qutm a 111 of t@rtlto� for10119"y. To
recap tirleOy, "-'f!''t'e had a lool. 11t cbf! IW:'"' otpnlu,lioni'II deslgo and I
lhinkwe\-e all ag,reed tbat tbe new slntàu.RI wiU pn,1tid8 us with
much more fle:x.ibllity, andhopeftdl y, highcr profits. We've also
talked about your new ro!es, and I thlnk 1ha1 ali d )'Oli aft! 5311Sfled
th:u rh!!�will be an fmponan1 c,ne forear.h ofyou ln the srrur.tun'!.
ss Alito 1hè nexr nlt:r.!IIO&, f 1btnk Wf!. shot,ld SAI! "°.adi Ofhl!r:tg;aln
around l.00 middleof �n )'ear to di.scuss the progress we•re
maklllg. Susan will be in touch with )"<>U oo thllt.
Wcll, it's bccn a king: day, but I think ...,'C·ve a<:complishcda 1oc, l'd
like to dooo che offio'iat pan of our meeti03. I knc,,\· you're all tiro:!.
60 bui we've booked 11 table a1 a ftnfaslk fl<:h �aur::)nl and l'm
lootlng lont11rd la h.:,vlng dtnnerwilh }n1.
lt's fivanow. l'veotde:red a limousine. to pict)'OU llP at your hotel at
seven, Aod so _ see )'OO this e,t1oing,
Writing: Expressing a point of view
Management i.s nothing more than motfll'a-ting other people.
t... liieo<u, b1111:.- duirtr"'-'I of Chy$ih•
A student has expres.sed her opinion of this statement in
\t,o,J.e.-st-..,.v.,. �....�1
.-..-.o...\ st-�"'\-s. ,;i A,.J.
,G...,,Jly, -�e-s """*""é:
10 �.,..
,_oM cd,,_,,..;,cdd't� H,,..,tllo,
� ��ss\�Y;�y\-otM'"' cill��
'ol,,,.\- #Il$� to
� 1t..'o0o.li-�1
#',,'..
Wl.�e
...
e
li
�
.
v,- e t'"'t,\ic.
\-kK�nci1"1\-0 y..,,-t"
<"""- $CC
...CCOW<I� w,t
2 Choose one of the following quotations and write ,a
paragraph commenting on the ideas In it. Model your
patagraph on the one the student wroto.
Now a busines.s,., 11'1)' Wi'lf of thinkins. is noi a machine. !t is a
colleetlon of peoplewho ate brought together to do wOfk and
noc towrite letters to one anolher. lt is noi neoes.sary fora:,y
one department to know what any other de Pc1rt�nt i:s doirig.
lf a man is dioing his work, he wil oot ha•.ie time to tak.c up 8rl'f
othet work. lt is the Mine" ol those who pian tM enlire
w01k to see that all of the departmcnts are wotking property
toward thé same end. lt ls not n&eessar'y to h&.·e mootings: to
estabtish good feeling between individuals or departm.ents ...
Momy F-ord, U.$. lll)lOMOhikJ indn$1Mli$! (1663-l0..7)
People are clefinitely a comp any's greatest asset t t doesn't
make any diffore11ce whether the produet ls: cars creost00tics.
A eompany 1.$ ooly as good as. the people it keeps.
Mary K-, Ash. /hfy K.,..ltld11Mdet
Toda>j. & skilled manet-er does more than the owner. And
owners fight each othef to get the skilled manage,.s.
Miltu,i l Khodo1kOYiJ�. I01�1 CEO d tlli RuSà;t" pe11dl!:um�"1 1titos
A boat ean't ha'lé two captain$.
Akir1 Mori. PMdirnl -,d Q;•fEloto.iti,,1 of th• 1/otf, Jusr, �pan
� li!M.'0C:C"''$
s.-#l,1roe�1:>l.s414k
S\t.r,e,rWN '"""'"..,:4\tth �..)y "'"".."
o�t-\o.t: ,t:.,.riry.
1
Match the numbet of the sentenee wlth the function it hH
In the parag raph,
Sentence Functlon
yoor fi(&t $Upporting •rg1mtnt or example
2
asummaiy of yoor position
3
yoor fin�I supporling argurntnl or ex•rnpll:
4
atatement of your positioo
5
;, h1riher wpportlng ,:,rg-u mcnt or cx..im,ptc
6
pa.raphrasing the author'a positiotl
The aothor so,,gg,.:$ts that/clams that -·
lhe author is cor�ct in saying,/stating that -·
Il\ sS)ing/stating that .__, the at.Chor faits to see ·­
Wh:le die •t.1tho1 vie-1111 _,, I bellcvt -·
lhe q.ictalion may cot11:ain a guin ol lruth in the �se lhat .... but ?he
111,1tl1Qr 1r1hsl5e:. • çnJi;l;iI poli(
lo ny � of th11k.lng ...
HG-t.-ewt in�· opinion ·I believe it is a mistake to thiric ...
rorfn$1a1\èe, ...
A case i:n poin,; is -·
In b,ief, ·To çonclude ,..
93
'
u
., •'
22,/0
}I
39,R"
I •i
1 ..
4
..
(, .. o
1,00
0,21
�
o
"
30,8
18,3
20,1
140,0
�68 8
�--
Accounting
Leomlng Focw:;
• Using acoountng terminology
• l)nde1'$1ar.dng finenciol
S(lltcmcms
• T-,lk)ng �boul �I, noe sheets
• Broalin.gthctadnews
diplomatically
Warm-up
Why do many students haw trouble with their accounting course at university?
What might be the oulçorn: or rnilJtake$ ;::ind or the deliberale munipulut.ion in ri.n.::inçiul
reports, commonly referred to as cooking the book$?
Seif Study
• Who's-rJhoin-.ecoon(ng?
• SoftCfllng your çritJcism
• Condtionat I: ;peculatioo.
speculati()n
Acoow1lhijt 1he S}'Slffll or l'OO)l'd!l'I&
a.nd summa,izi� bUslness and
financial tzan.sacttotis ., well as
mlerpl.\iting. llnal)'z:11!8, Verlfrlng and
iepott1ng the res.ulbt tn tbe form or
doçun,el)ls, ,,,11.ktl art submttoed to a
�ny or IO tlle gr1Yemme111.
Atc:oun1anu ha\'t �o prepared foc
thelr oork by completlng a unl\'aslty
dcgroo antl 1111dldo1.al professkirul
tttlning,
8ookkf'f'Pina tlw 'Yl(lrt or keeplng M
IIOlul'UII l'llimM -0f the aoc:00nu of a
businei5, tJMieally, thl$ mc-,1.l'IS
l,;lleplng 1rfdt o' tbe rnonoy en1et1ng
and k:a,ing a 0mpw1y. 8()()1.�rs
do no, necC:SSWily bave pro/essionaJ
t'l'&lnl:ng ;,,n(I an genèr111ly emp!Oyed
by I.limi I and mH!ium--sl1.10d llrms.
9<
look at the definitions of accounting and bookkeeping.. Read the activities below and
decide if they are the work of an accountant (A) or a bookkeeper {B):
1
2
1 i
4
5
6
7
8 1
colltctìng and filing f)IJrcha.se ll'Woiot.s from suppliers
establishing ,ules and methods tor determinr'lg thc effucts of financial uansactions
�nrrllne AAlo� m.Nto tn r:u�tn.rr»�
p,eparing aod distribùin g finandat statements
entemg f,gures of sales made in computer prog�m
obtaining the figures cf a business's invento<y at end ofyear
i
preparing and subm ning tax returns to g'M!mment
reviewing and appn::wing end-of�pc<iod entties
Reading: The Enron Story
1 Match each of the drawings with one of the expressions below:
I
2
3
4
5
be o bean-çounter
blow the whistJe
a
crundl numbers
i
kcop an C)'e on the bottom l no
mass.agé the figul'ts
a
What do you think these expressions mean in the context of eccounting?
2 Now use a form of each expreulon to complete the sentencu below:
_
1 Bero,e we �t ncxt y-cat's budge-t. we will ha\'é to do a lot of ___
2 The chlef aooounting officer coofes.sed to h.wing ........._ ····· -··- · ·· · · -..·· •. __ _ a bit for the
last financial report, but he was stll within 1he law.
3 When Ms Bowers realiz:ed that her boss was involved in insider trading. she
----·-··-·····-..-·.··--·on hirn.
, if they want to k� hmv II compa"f is
4 Sharehoklers should
doing.
5 Acco-untants are often sald lo be humorless
3 Match each of the terms on the k!ft with its definition on the right.
chief fi�ncial
officet/CFO
2 aud1tor
3 oversight
4 entity
5 net value
6 otrtified public
accoootant/
CPA
7
resignation
8 f raud
a
a term tor an accountant who has met the requirements of an
Americ3n institutc
b
an independènt busìne$$ oc subdivision of a compafl'/
e a person emplO)'ed to make a cfose exammation of
something, e. g. a company's books
Vocabularv
d deli berete de-ceit in order to obtain mone)' or other benefits
e th& fotm3I ootice that somobod-1 is lr3\ling a comparlJ
f
th& oorpo,ate executive respoos.ible for financial planning and
tecord-ktéping
g the task of supervising and regulaling an activity
h something's wotth as recorcled in company aecount$
95
•
Accountl'Q
4 Sçtn lhe •rliçk below 1nd flnd the relev1n1 lnfonn11ion 10 1nower the following qYHllon1:
What type o( business(es) was fnton involved in?
2 How many people did the comp any employ?
3 What was fnron's net value in the year before lhe company
collapsed?
4 What was the name of the chief execuù-Je officer?
5 Who was responsiblo for cooking the book:s?
6 What was the tlick used lo cook. the boob?
7 What was the name ol the firm respon.sible for chec-king
the boob?
8 Who is the he-ro in the story?
9 What i:s the U..S. govemment organization responsible for
protecting investors against fraudu1ent and manipu-1ativ,e
ptaetice,s in the scc.uritics f"tlatkot calle<tl
10 What are the (legag reas.ons wh/ Enron executives were
sent t o jail7
The Enron Story
.,
111
H
20
M
JO
:u
4o
96
Students who foci borod by lbclr
aocou1iling leèlum am probably n«
m\' are thai al lhe end of 2001 rraudulenl
ac:e;ounting prJctl1Ps le(f rn the 11lmos1
O\<erntght collapse or a corporatlon whlcl1
had b�..n <:on�idfired one of Ameri<:a's
most succcssful. Enron•s bankruptcy
rosulted in unémployroont tor ils 20,000
ronner e11\ployees, thé loss or$1 IJillion
in J)f!nslon fund!i nnd the dis.grarR. af one
of the countr)°'s inosl prominent
acc:ounrancy lìrms. This was n story not
only aboot ngures bm abom grced aod
ambitloo, couraga and corruplk>n, and
Ei\'t)ll SUicil.18.
U.n 2000 E-nron MCI sUJJ bOOn 0petalin g
.is a11 enargy broker and energy provider.
lt 'l'o-as a publicly traded company liSIed
on the New York Stocf( Elth3nge woose
stiaros wcrc consl<lero<I a blue Chip
lnvestment not onty In the U.S. l)Ut
-arouoCI tbcwortd. A l tM ttmc tbe
COO)p;lU)' \\aS alSO b1�aking into Wbàl
ap 1>eared to be a fanlasticall'y locrati\•e
llfn\' ITl.élrtcet - rhe provislon ofbro11dhand
sen•ices. lls rinancial slatements for lhat
)'NU cledared re\'l"nues of$101 billion
an-ct asscts or <ro'Cr $65 bllUon. Analysts
at nnns like .\1erm Lyncti wem full 01
prnise ror Enron's s>@rformance and
1JW1liì.gé1118ol, oo-.•er dréaming th<1L òlle
yearon the compan)' would beoome the
biggest srandol fn bu'-lnes!l history.
1ne flfty�&oroy glass towerwtlleh
sierved as headquaners in downtown
Houston ao<I tl'le flattcrlng anlclcs In tbc
businos.s J)l'8$ bad no,et reJlected
E1uun's lrue rinantiuJ t:<mdilion. For
years Enron had been making IOS$P-S.
These had ne�'e.r appea�d on ilS balance
shl3ets thanks to the dubious finançial
gc'fllus of Enron·s CFO. Andy fastO'l'I.
"''ho ti.ad created SPe·s. or special
pu.rp<i00 entjUes, i.e. largely fiet.ilious
45 companleswilh e,'OCali\'e names.. lbese
were dP.rlarPd a$ in-rt(!penOOnt
partnerships and used in oll-balunm
shaec tmMaOions ro c::onc;e111 fnn,n's
dcbt. En.ron's 01lC Ual>UJUes farexcocded
S') its vasuy 0\-er�·aiued asSl8ts. AJt11ough
lhe company empi()) ed lhe �stigious
accountancy firm Arthut AllOOrsen as
their audilors, tllE!se accounlants did not
repon the 1m•gularltiP.s_ f!ither as 11
):I result 01 lncomll)tenre or colluslon wtth
thl> .Enron man�mcnt.
The crlsls began In August 2001.when
the eco Jottrey Skimng rosignoo
allegedly ror per�onal Nasons. Al l�l
60 one anatyst had atre11dy observed thai
the restgnt1tion c-oinclded wlth the
publlcetlon orlhP !'IP.cond-quarter
Nnanclal report,whlch showed that for
tOO tlrst ba.Il ot 200J Enron·s cash llow
6!S was Sl.3 liilJioo in 1118 rud. Wa� U�
captaln icavlng a slnktng s.hip?
had IJean severa! emplO)'t:eS
who had attemJ)led to blaw lhe whi.stle,
but the whistle-blower who berame
19 ramouswas Sllerron Watktns, Enron·s
vfce-rre.skSent tor Corporate
lk\'Clopmcnt an<I a tralncd <.:i>A. 1bc C13>·
Skilling msigol.ld W<1tkins wrotè a
concerned le.tter lo Enron's head, Ken
1� U)•, tnwhir.h shP pointe(f Mlt the
im!!,.'Ularities andwarned him that the
comJ){ley ooulrl lmploo<!l in a we,'e of
scandals. Lay dkt not rcply to hcr
mossaga
"° nae scandal bruke in Oclober 2001,
"''bén t.:nron·s tbi1\l-q\.lartereamin!)S
report r�wealE!d �ses annmting lo S638
millìon 1.ind 11 )oss in equtty of Q\'er St
bltlton. 1be oompaoy an.emf,(Ccl ,o explal-n
™™
lhjs away v.ith misleading technical
jargon. 'ThP. OP.Xt day an anlc:le appP.amd
In Tlle lltl/1 SfrWJooma/ lmcrpre!lng me
lll!i.��as a �lgn oflmminP,m coUa�. l'he
artJcle also polnted out erobarrnsstng
contljct.ot-intcmst issWlS. si.noo c1:o
011 And)' f-astow had ama�d a rortull9 or
$60 mlllion in his dealingswith Enron's
\•arious �sçedal partnerships".
Maa!Mhile, Enron stock had N>adl,ed lts
ICM'est aevet tn 14 years and contlnoed to
,) làlL And tlleo tbc Amcrican tlnanc:lal
O'o�rsigbt agenc.y, lh8 Sec:uritiès al'ld!
t:xcb.ange Commission (St.:C). t>cg_an an
investigalio1L
Enron had no (jhoif,e bui ro re5'al-=i its
•110 protTts for the pre,1ous fot1r years, In
cttcct a<1m1u-1ng tbat it ll3<1 oocn lntlating
its earnlngs an<I hldlng debt In the
compncated partncrshrp construcuoos.
on DéOOmbér 2. Enrun,wbk.tt Otl.l)' thtoo
10!> monlhs eartier h.id claim!!d lo hml!
asr,,ptsworth almost S62 billion, filed tor
b11nkruJKC)' prot.ection. lts sharn price­
ooce at a reoord high of $90-was ricw,
worth i.ess lhan $1.
U<I Lay, Skilling and l'.ì.stOW W81'8 Cbà.rgOO
wilh oonspiracy aud fra.ud. Ali lbrae men
.,..,8ro roul'ld gui1ty or11:1e:wotTenoos aoo
received long prison senhmc:es. La).. died
of heart attock in July, 2006. Skillin;g and
Il) Fa�ow are now servlng ,ime,
11�
5
Oi.scuss the foflowing questlonS;:
1 Why was lhe collapst of fl'1f0tl a dlsastér for many of lt$ &mployèèS?
2 Why did the Securities a.nd fxchange Commlsslon not intervene earlier in lhe story?
3 What cotlld be done so 1hat this t'fpe of corporate fraud does not oocur in the future?
Ustening: The world after Enron
1 The radio program The Lowdown is intervlewlng an authority o:n accountillg about the
consequence& of the Enron scandal for the professfon as a whoffl. listen and take notes
on the following points:
1 The falout from Enrorr.
2 How acoo1,,1ntant-s can cook the books:
• ;,l\�h'! $«I)� -'ì"°ve.s
• lY1 .A.,ite .;,v...-u
r
•
.e�
t,cp,el\W:$
3 W'r,j A.rthvr Aflderse"'s beha..ior �cked the p1Jbllc:
\,,e".w.S-ea•M.J, 1-1,.,.;_ �(;\;I °''ooJ, VCfV.t'At,iG.,_
sox SurtianeS-OX:ley ""
5 Cl\ange$ tor accountants�
.h::OOUOll:n.g
PCAOB Pu'>Uc Comp'tt\Y
Bo3.rd
o�-uS\ght
e Changes fof' oompanies:
2 Usten again. Do you thin k the measures introduced after the Enron scandal were
enough to dlse:ourage a,cicounUng fraud?
97
Il
Accounbng
Business Skllls
&ulite< • bal�noe 9heet • bMk accounts •
bank. lt:aans • boot�per • c.sh f'cw
sta•me.it • chief aocoo:,ting offioer • chief
i
lìnanc al officcr • cn:id1tor • debtor •
81lftNU rnrya:nq • moni1or a,cti-dl)' •
office equtpment • profll 1md lc$$ �Ccovnl •
property • pro..ide informa1ioo • raw materials
• reduce chance ol fraud
Talking about balance sheets:
terms
Using the right
1 Have a look at the list of terms a.ssociated with accounting. Use the mind map below to
organize the terms into the different categories.
Types of finanoial
statements
..............................
,-""=oouits
=='--{::
Purpoee of
•.
....... .... .. ............... ·. .·.
:'..... ................ ..... ......
·.
............ .......... ......... :·_:! , Assots
•,,
...........................
................................ .-::':.
.. ................... ....
"
"
�les'I
.. .......................... ... ·::-·
.:;.:.···
'-"""'----•,.·.
·........................... ....
..............................
Liabilitioa
2 Jim Turner has just taken aver his uncle's plumbing supplies company. As he is
completely new to the business, he has asked the company's aceountant, Vijay
Sengupta, to give him a rundown on the company's flnanclal condition. Listen to their
Wliat-,wcwn ltldwllM-,ou(lol,'«
hllnoe WIN'I •1mi�
eonversatlon and enter the, mlulng flgures Jnto the ba lance sheet.
Skills
Wi�i.i.1's Widgets, lnc.
baJance shcel endjng las1 quarrcr
ASSETS
Currrn1 Ass.:t<1
Cash IUld cm>b cqui.....ienu
Ac('()Unti reteivable
lnvm11:11·y
"Jbt.il C:urren1 A�-.et--i
Pbnt and moch.inery
US� dcp-cciadon
Lood
rnrnngibtt SS$tt$
TOl;\L AS.SE1'S
I.L\UU.,ITI.ES ANU SIL-\N.EHOLDERS' 1-:QUITY
LI.AIUt rrrES
ACOOlll'llS p�able
Th)(e$ pay:1bll'
sooo
$15,000
12.500
31.lJ!ll
$JO. OOO
12.000
.l-Wll
$30.c»J
Long:-krrn bc1t1ds is..1u,es
To·rAL LIABU,l'rlES
•
•
Common.\llocl:
Rccaincd t:1tnings
98
TOTAl.,SH.ARf:1101.J)ERS' t:QUl'l'Y
LI .ABlL.ITl�ANO SHAREHOLOER'S' t-:QUITY
$132.000
m
Business Skllls
3 Satyam Computtr SVflcts Ltd., with a st.,ff of 40,000 employees1
used to be one of lndla's leadlng IT companles. The eompany's
chairman resigned after confesslng that management had been
falsifying the accounts for year'$, inffating profits by$ I billion.
Satyam Com1,utCI' Scrvi«s Ltd. (SAY). Ba.I.ance Sbeel
1tll 1rumbfrs in ihousa,id.t
1,117.200
Shon 'rcnn lrvoln.:ntJ
15'2.200
13,S(X)
.l'M K«ei�ble"
6')9300
435.100
46.000
a.100
lmml()f)'
O!ber Cwrent AJU.c1,
'llll:111 \.l,U"n'lll ASSl:lS
Long TCfm hl,;i,,111:'!CIILS
Pmt lt:rty Plao1 tnd
Eq1.11puent
Oooo'll,ill
lol;.Ll'lgible As...e�
t.8�-�00
I3.900
'292,&)()
403,700
304..IOO
17.800
<,11.,.-!00
l,Olll.711&
J'*,600
3,500
'!:36,600
lK.>.CXX>
163,l<X>
106.600
32700
'27.(·l.'IJ
15.600
7,400
6.600
Ao:un1ulllfa.l
Amo .ni2Mt0n
l'l,100
2IJI()()
.'U!k't (.��
s.600
'li.lC.l!I A<.'\t'L,i
2.UJ,.lOO
l.)00
1.6?4.IOO
Ot1ia A�.-.eb
Dcferr«I 1...on,rm,1
17.7(1)
,oo
l,l81,l00
Cllt'f't'lll Wbilltia
Sl-1/C\,rn>11I I ""S
lhm Oebl
101.200
'l'olld Cum:ol Uabllitic.<1
80.200
Il .800
.\l.l.100
?lt,.?otl
1.19.1110
Lonc Tonn lkb1
2-1.800
'22.200
11.900
12600
8.100
11.000
ll.600
Liab:ilirics
Ol1..r LbbililiciDcrc� Vini ·ram
Li:lbihty (.1nq;..:>
M'il'IO!it)' lr.cere11
196,600
118.900
?9.30<)
12.100
I ,�.O)()
I,6.500
Slud,huhJ.u-.• I qu!l\
Mise S,QC:k.1 Optiom
Warranis
Rcckcmablc Prdttttd
S10ek
Prefe� S1oc:i:
CmnnJOQ SIOCk:
1-,,,=
Ret11m� e'.ànun�
Take a look ,t the company's balance sheet What
lnfor'matlon woukl lead you to belleve that the
company was performing wellt ls there any lndleatlon
that the cor1pany would be bankrupt less than a year
laterf
8,900
W,900
N(gath'e GoodwiD
1'otal l.bl1 .ilitit-$
(jAhdtlir..
Açi;oun� �able
°'1lc1 C'wtoo,
JIJI.SOO
II ..
.
36,100
.
.
.
.
36,000
121.100
41)7.100
.
17,(i()O
163,500
61.SOO
(4,60()
I.IUil,MIO
IJ71.000
..,,,..
$1.766.2811
s-1 ••.U0,900
$%0.100
592.400
01her S1ockJ1old!'r Equity
Nt't 1'a1ç:ihlir- Mstli
.
.
.
Cttpitl.l Sutplus
Ec1ui1y
18tl.800
.
t ,.»9,IIOO
��Stock
l'foutl St<dbt11dt!r
�3.100
5$2,,00
�1.100
I
99
Il
Accounting
Business Skllls
4 Refer back to the bal,nce sheet on page 99 and flnd the words or expressiou meaning
the followl ng:
-.. ··-··- ·······..···-·-··
I al of the money owed to the business �e¼:.1.��e.i.v.0hles, .., ....
2 the part of the profit not paio out as dividends, OOt kept by the compal'Y)' to be rehYested or be
used to pay debts
3 1he net amount of capitai reoeived from investors
4 the value of imangiblt assets such as a strong t>tand or company reputation. On !I baiance
sheet, this can refer to tht purchase of a brand n.al'llt or the acquisition of a com�ny wllh a
good reputation.
5 the goods or raw mat&rials tield in slelek .··--· ·-·· _ . ·····-··-···-·
6 the pOftion of shares that a company does not wanl to put on the market
7 the deduction of capitai expen.ses <Ner a speeific period of time, usually <Net the asset's lfe
8 stock owned in a c0<poration that has a highcr claim on the asscts and eamings than commoo
9
,tod<
money the company owes but
can only tepa-j a t some point in the future
10 money that the c;ompony Q\'o'Cll to it$ credito� �t the prcl!Cnt time ·-·····-·· ..••.
Diplomacy: Breaking the bad news
1 Susan Carter is an auditor empl oyed by the eccountancy firm Smith Holmes and
Wstershed. She i.s currentJy auditing the books et GigaCorp.
lltien to conversati on i with Gl,,Corp'$ chalrm8n John L(g:htfoot ,ind answtr the
questlons underneath the photo on the left,
2 LI sten to the seeond converutlon, Mow would you
describe Susan's conversational style now?
What is the bad n&Y>S that Susan has
ror 1onnl • How does tol'ln reactr
3 Litten t o conversati on 2 agaln •nd find the langu,ge
that Suun uses to soften her ttatements..
John,
we\,e been reviewingyour financial statements for last year and.
. there are a
number of figures th&t ... ,,_.. , ..... ... ·-·· ... . -·.".. .. .. . ..-·· ··-·
2-b�ca,nings is not supported lrf thc othcr documents we'vc had acccss to.
3 But it
the frgures in the financial statements.
.. as
4 Well,
. that it ts a �liberate
misrepresentation but
. ........ .........,_ .._ancrror.
5 As an e:xl&mal auditor, I
lhe company restales the originai financial reporl.
6 Sut the eaming, figure is cle.irly off by at let1st $5 milltOn,
tOO
The fast food franchi&& Ht1cù.1nda H98VIJIJ (turnover
$1 bilion, headq,mters in Charlotte, NC} hn o..-er
1,000 outlets in the U.S. and more than a hundred
abroad. Il maintams dose contaci \\�th outlet
managers, who 31'& f*quifed to keep good paper
records and stay in clo.se contact with aocounting
operations at headquart&rs, which eve.n has M 800
nurri>er to tield their questions. Ihe company hu jt.1st
bought a smaUe, ehain and 1s 00\V eonsldellng
reorganizing ils aocounting operations. lts l�hoose
opal'ations hav& been ,eqt.iring l'l'IOI'& and m0<&
�sical space Md employing 8C(()Unting atatt has
become increasingly ex.penSNe. HacienrJa Heaven
management ha-s been locking into an F&A ffrvioes
busloess prcwiding onshor-e serv1oes. Currently il is
considering even more radical, cost·effecti"'e
solutions. The most obJious woutd bo to offsho,� its
bacie-office pro<::e$$eS to India. A f•st estimate
su.ggests that lhe offshore model woulcl cost hatf of
what H:,cicnda HctJVcn would P3f a domcstic p�·idcr.
On li� other hand. H:JèrtJnda He1Nen ls not yet
convinced th&t an offshore eompany could handle all
the operations. For the fra.nchtsed restaurants,
i,ccounting COl\$ists largely of oollecting rçyalties
and renls. Howe..-er, the company aceounhflg consists
of more oomplex opcrations with reccivable$.
payables, generai ledger maìntenance. fixed a�ts
and utilities payments•
•
•
•
•
Skills: Paraphrasing
Web research: Becoming an
Reread The Ennn Stoty on page 96 ond find the phra.ses In
the a r tici• expieulng the ldeas below:
accountant
As a oonseqoonce of tt'I& oompaJ'\lj's collap,so, all the péOplè
who worted fOf d lost their jobs.
2
3
Both Am&riean and intefnaòonat irfwnors viete e.ager to blt'f
Enron stock.
i
Ewon had been hiding lieb iti es in companies that were not
mentioned in its financial statements..
4 The audltors may have cwetlooked the fraud or the-J may have
been oooPf!rJting to cause it.
S lhe chief execvtive officer said that he had not ql.it for
,aasons havi11g to dowith the company.
1
Which certification in your country most close y
corresponds to that of the Amerlcan CPA? What klnd of
training is involved?
CerlirM!-4) P11blic AOC01u'l111n1 (Cl':\) ii tbe tllle gNen u prolès.SSOnali
',\·oo, haVlng sariSl'ièd requtf'èflle.rlls \dh regatd IO i!ducai»n and
cxpcrienoo, hove posscd artc.lllm scl by thcAmcrict.m Jn,t'Mt:Q{C<.rtf/icd
Aibllc AM>tuu'anrs. The educallot11tl req11Jrement IS an Amerlcan
boche.lors deyee wtth a rnln!m11m number of houl'l\ in to:-oun!lng and
buslntiis atlmioi.strutlon followed t,y an additional �-ear or �mie studr.
The experlflnoe requlmmen1 varies rrom staie to Stale.
CW.s may w011( In corporadonus cbsef ftnanclal otftoors )r be employed
by �Dli11g fi.m,i; •� flldilOJ'$. Jhey mar ilso be selk11pluyed .i, t.:U:
oonsultants.
2 Use the Internet to research the corre&pondlng professlons
i n the U.K., Canada and Australia. Use a combination of the
following terms: accounting, aGcountant, qualif.cation,
trainin g. The grid below will help you to organixe your
information.
Country
i
6 fnron confessed that it had been exaggemting the fìgure3 for
Ìt$ revenue.
··-·· · ······- ····� ..-···· ·-··-.. -----·····-·· ······-··-·-... ····-
7 A court d&cided that the executives had eommined the erimes
they were aa:used of.
Un te-d
Statf'-..s
Edueatlon and A,euof
training
activity
cc..-f.i.G�"'
�blic
!5,,/j, pli..S C'o\�
yc_.,.,.,.
,e,c.pe: ..ie:�e:
.-e:ql,o,Ì.,.�._....
,\CCd"'-1>.M'o!.t
..�.
v�·c�tri-4'l-C
tyour
country)
i
Un ted
Kingdom
Austrolia
102
Tille
eros i"'
co,.-po.,.,.,Hc'o\t
41111.Àlt-i-..,-t.,,u,c
cc-..sWH"'"
Web research: lnvestigating fraud
The Enron eue hu beeome the classle exampte of
aecountlng 'raud and Satyam has been c.alled "the Enron of
lnd;a". Use the internet to find lnformation on more recent
cases of accountiog seandafs. How could they occur?What
were the co.,sequences?
3
What is the worst thing that can happen toan employer
who takes revenge on an employee for whis-tle-blowing?
4 Read this second ex. cer-pt from the Sarbanes-Oxley Act and
under-line the subject of the sentence.
Cr1mlnal penalties (or ahering: docunwnh
Whoowr koowingly atters. deSUOfS, rnutUaros. corRalS. covers up,
&lsifies or makes a falseentry in any record,. document, or tangJòle
ohjer., w11h ttw! inl!ltl1 M lmpetli!, obsll'bl'II or innue>.n� 1hP .
itw�tig3ifion Qr 1>tl)1>e:r &.(lminls1,-;;1ic,n or 1wy �11t:rwilhin (he
jwi:,dl�lM, 1JCaur w.,tulu1t:1ul v1 �,:11'-r vflbo Uu1t,.1 Sù,t,,s::, v1 oi1y
case filed under tilla 11, or in re.lation to or cootem,Jation d aoy
such m11ne r or calie, s hall be tlned u nder thlJ ,11 le, lmprlsoned not
more th3n '20 ye.an.-0rboth.
5
Highlight the words In the punge meaning:
•
•
•
•
6
Reading: Legai documents
1
Below you will find an excerpt from the Sarbanes-Oxley Act
Underline the subject of the sentenoe. Then undertine the
verb(s).
The Wb.istl�bl<>'-'"t>r dau�
Whoe'\·er knowtogly, witli the !nient 10 retaUe.te. takes any acoon
bannful to all')' persoo, indudiogin1erfarence with tbe l.r,dul
employmeru or livelihood orany per.soo. fur providlng to a law
tMurOffùeulofnctr �ny 1ru1hful hìR, nna1100 �lalifll; h) Il�
oommll).\;h)ll ,r �11iblr, tfm11nil!llitwi ùf;:,ny ff!()enil ofl'P,111� • .-.hllll l�
fìood under 1his titJe. imprisooed oot more tban tiao years.or both.
� li()) <iWSOX Il V.1C. fJS/*J
2
i
Highlight the words in the pauage me�,n ng:
t+- �lllnt: t1f Piamlne ,� mt1noy ynu Nklr1 rn �l�t
the act of perpetrating a cri me
• an illegal açt
• the division of a lega! text « statute
a personwocking for the gcnernment whose job it is to ensure
that laws are obscrved
the act of carryin:g out a function
co change in a fraudulent W&f
to rernow 0t damage a patt of something
authority o, oontrol
matetial. capable ot bei'lg touchad
How does the punishment for dishonest accountants or
auditors compere with the punishment for retallating
agalnst whlstle-blowers?
Writing: Blowing the whistle
As Su.Jan Carter, the auditor on page 100, \"rlte •
c:onrldentlal letter to your bost Rob Colllns at Smlth Holf'M.$
ancl Watt1rshed explainlng the problem at GJgaCorp.
[: Tps to, ""lling d-ceJly
Use softenln.s expressfon.s s1Kh H
I regu;t to Wormyoo ...
I a,; w,ry concemed�bout ...
UM term• suçh n
fioonciò! irregularitie.s ir.stead of fraud
toreporr imprOfJ8rl'/instead of to <XJOk. thtt bocts
Make use of panlve form.s, e.;.
T1ic �es illl'�bet:n mbsrepresentcd ln:sle� of Tbc CfOhas
mr:prcscr.rcd the figwc.s
Anc,ror1,.,$ beenmm in:stead of X 1mnlil<k:� crror.
103
Rapidly developing
econom1es
Lenming Focus
• Tiikingaboutaoounuy's
• °"""'Y
• Usin,: the basi: terrrinolozy of
e�!I
• Ocscnb1nK 1m gr.,pfls
Self Study
• Adjectives/MverbsdeSCttòing
<:hP.nge
• Ten,es In gn1ph dC$Cl'lpdons
• Word partnenh1p3 l'lghlighung
econonic fac:s and trerw:!s
• Slmmarcmg nforrnation from a
grsçil
How to 1nterpret ycur seore:
6---7 answer& corre,t Globalizalioo and
the eoonomy seem te be your pet subiect.
Maybe you 11re plannhg a ca�r in a
global company so ycu can work and tr,e
abroad? An interest in gtobal business
cettainly givcs you an advsntagc <Ncr
0100, candid.alè$.
4-5 answers correct You seem to have
p.aìd attention in your lecturé lntemational
Economics. But why not consider reading
the bu$iness section �, a nationel
newspaper more often?
1-3 answer:s correct: lt's time cowatch
thé bus-lrless oows '�llJlarty aswell as
documeotaries on coJnlries other than
your own. Remember. what businesses
are kloking tor in uni\.ersity grodua\es
is an interest in what is going on in the
world economy.
11{. '<19 ·� ·� '&C 'qz ':>L :�
104
Warm-up
Test your knowledge
of global economies!
What does the acrorvym BRIC stand fot?
a O The oountnes of Bulgaria.
Romani.a. lta3/ and Croatia.
b O Biannual Ratings •lf lrnestors'
Credi 'tWOrthiness.
e D The countries of 8razil, Russia,
India and China,
2 What do the BRIC countries have in
common?
a O They are all rich in natural
resourcea.
b O They showed douolo-digit
.conomic growth until the global
tinanc1a1 cn:s1s 1n 2008,
e D They have the IQAest labor costs
in the WOfld.
3 Which CQUMry doe$n't bel0fl8 to the
so-called em?rging economies?
Rus,io
d
8rozil
e C Vicmam
b O Moxko
o O India
f C China
•o
e
4 How lS the economie growth of a
country commonly rneasured?
a O As. a percentage i'lcrease in the
5 Whic:h three counuie, showed the hiahesi:
economie growth before the financial crisis
in 2008?
• O USAR, Japan Il, Germarff I
b O USAR, G.,mary fl, Jtpan
ç O USAR, Japan
Chiru
Il,
Il
6 Whichwere the three richest countries in
terms of purohasing pc,Ner pi1rity per capita
in 20081
Gerr.."f
a O USAR,Japan
b O 0.lar
Luxemboucg Q, Noiwoy
I long Kong
Japan
o O USA
R,
lt
Il,
11
Il
11, I
7 Which of the following forms are not
considered foreign diff!Ct in�tmeml {F()I)?
a D BU)'Wlg stwes in an enterp,ise in
another count,y without tak.ing a
1asung mterest rn or enea:Ne
management contro! Mf it.
b LJ Purchasing an enterprise in a fcweign
country or combining two companies
by to,ming a MH one 1-M&A).
e O Cooperating with an enterprise in
&nother count,y by forming a joint
venture.
d [] Setting up a subsidlary in anolh&r
country.
gr0$$domes/icfllOdu<r (GDP)
during one year.
b
O As thit dollar vat ut of a counuy',
e
O
total ot.rtput in a year, dividecf by
;,� c,npulMi-nn
As. a oountry's final output and
servioes in a year \'alued in dollars
or euros.
How do the rapldly developlng morket.s fnfluence the :idvanced lndustr lallzed eeonomJes?
-------•
Reading: The BRIC countries
1 Economists agree on four determiners for economie growth: macroeconomie stability.
stable politica/ inffUutiont, an open economy and education. Enter the following factors
in the mind map below.
M('lcrooconomio _:_, ........ , .......•... ,., ....., ...
atabir
" ·· · · " '· · · · " " · · ·' · " · · ··"·· ,. .
Supporti:ng
Sht.b6cpolit�I
institutions
........................�-· ....... ::.-...::'•::::=-:•:....-�
........................ .........·.·
.
..··· ..............................
1--==:::,_,.-·
e""
........................................:·,
,;,·
r,
,.
• •
,_
\·.... ���?!':·�,.
•. �:'.��1:1..
·•.
____
(Jpen
Educa.tion
°"°"'
.................................
·
..-························· ···· ··········
Y
'--'""::.:C::C::C:!
_,(., ••. " ........·•...........,...., .. •. ..
cxchan3) raro adju$tmav: • func!ionioglcg11I symm • t,,ncticcio.a;m Stets goodvocational
training• high un�r�ityenro!lme<1t rate � J;nge•eeee,.:fo7eat eel' g• low g01emment defid: •
fow inftation • bv level oi bure-.aucracy • oo trade batTiers • open to foreign direct mvestmont
(FDI) • favorable demograptucs • good infrastruC'Wres • protected er.Wonment
What other s1,1pporting fectors can yo1.1 think of? Add t h e m to the mlnd map.
2
Match the ec<>nomlc terms on the left wlth ihe deflnltions on the righi.
floating
exchange rete
2 c::ommodity
3 surplus
4
bottlenect
a the act of hindering, delayw'lg, slowing down or stopping a prooes.s
b the priçe ot one eurreney in terms. ot another, which is determined
enrirely by supply and demand
e ir, rPJN materiai or primary prod1.1ct that can be bought &Od sold,
e.g. Stffl
d a spedfic probJem in part of a pro-<:ess that causes delay
°' reqt1.iréd
5 underfui:,dlng
e more than what 1s needed
6 interferel'lCe
f
7 illitetacy
g the state of not being able to ,ead and to wriro
8 contraction
h when the gc,,,•emment does not pf'IO\IÌde enough money fora specific
9 prop•rty ri5ht
the exclusive authority to decide how something is used
purpose
the process of becoming smaller
3 What do you know about the economie and pollUcal condltlon:S In Br-azl� Russi 11, lndl3
and China?
105
Rapidty developlng
economies
4 Form group• of four, Each member ghould ,ead the proflle of one of the BRIC countries.
Note the factors that have contrlbuted to lts economie growth and th1nk of five que&tlons
you have concerning the otlher countries. Teti your group what you have read and answer
each other's questions. Then compk!te the mind m.ap on page 105 with further points
from the texts.
• Rlmla p,go 131, India f)/lf,e 139, Ch/nJpago 137
Country profile: Brazil
The s.tructure of Brazil's legai sys.tem is
c:omplex a'1d suffers frcm lengthy
proccdures .
lts popolatiM is young by lnternalional
standards. but its birth rate and mOJtaGt-1
rate are both decreasing.
The quality of education needs
improvemenr. the ave rage length of
scflooling is 6.5 years (2oosi ond me
illiteraey raw is 11 l (2005). eompared wlth
8.4 tin ctllna. Alth01Jgh primary and
from hyperinflation of up to 5000�
exchangc rate, uugeting inft3tion and
geoorating budge,t surptuses. lhis, coupled
with a WOf'ldwide high dcmand for
commoditl'é'S. entaillng high pr1oos. led to a
boost in economie growth. whtch a,eraged
4.6t in 2006/07.
lrade baniers have come down within the
la-Si few yeat$. resulting in a $tJrge in
exports, particularty in agr icuhure. Brazil's­
maìn export partner$ are t.M United States,
Argentina, China and GermarlJ.
The level of toreign direct investment (FOI)
1nflcw.1S reached a record lligh of $34.6
de�IO!)eQ �giçultur�\ mi�ing.
manufactuting and servite scc-tors. Du,ing
the last decade the maaoeoonanlc
çe,1, but olso new irwestment,. fhe U.�.
and Ge,mat'tf havc bffn among thc main
souroes of fOI to the country.
b9ttleneck tQ eçcOQ� growlh.
There has also bcen pollutioo and
defotestation in tM> Amaz<>n ,egjon.
Bra.zii i.s by far tM lerp1t and most
populated country 1n
. South America.
Thanks to dM pollcies of former
presidenta Cardoso { 1994-2002) and
Luta OaSilva (2002-2010)1 Bnzil has
the tenth largest economy in the
world.
This llas not alwa,,s beoo � case: h� the
1980$ Brazil suffered from unstable
polirical conditaons and in the earty 1990s
The ooontry po�sses large and weH­
bilbon in 2007, reflecting not ont,, M&A
secondary educ.ation are undP.rfunded, the
state university system is exoellent.
In some area� poor infrastructure is a
fn:,meWOtk was based oo a ftoating
5 In the seme groups, find extpressions in the text to match the pictognims and complete
the sentences together.
Brazil : lhe le...el of foreign direct inves:ment
infl<iWS ,�r.c'ke....., � ..eçc,A \-.i'\\� $34.6 bil!ion
Ruula: Oe,spite the difficult business
emironment, foreign direct ir,.,estment (rot}
in recent years.
In 2007.
China: Enro11ment in uniYersities
Bradi: tts population is you,g. but its birth rate
and mortaHty rate are both
China: Coosumer �ice inflation
over the last yeaJS.
I§
a.a
The C,y.sul
IIJ*dllim
,rldpt'fdct5oo
Grammar
106
China's ceono�
an average
o4 IOt a �-ear between 1981 and 2007.
[[]
India: Although cons.ume.r p<ice inflat,on fell to
roughtj o·; in the earty 2000s, it
. again. FOl inflows used to b e
extremely lciw but
in 2007/08.
$24.5 biJllon
6 How ls ,ecent economie growth In the BRIC eounttles explalned In your texts? What
other c<mditions need to bC! imprOW!d in order to guarantee such hlgh rates of economie
growth tor the futu.-.?
-------•
Role-play:
lnvestor's choice
Form groups of five. Four people wlll represent thelr respec-tlve
BRIC oountry at a trade fair, one person will represent a British
lnvestl)r plannlng to set up business In one of the BRIC countrits,
Choose a role card and follow the in6lructions on it. Then hold a
Q&A session in which the countr)' representatjves try to convince
the investor of their country's advant8ges tor FOI.
• St,;Joot B //lrazlJ p,ge 12s. stu<fflflr e (Rvss,a) page 131. Stud<l>t o (lnd,.)
pa,o !39. ShX!Cnt E(Cllina) pago <37
8ritlsh lnvestor
lmagin� that your oompany is planning to set u p bu$iness in one of che
BRIC wunllit-:,,.
Your busines$ is <t succe.ssful 8ritish ooffee house chain wi th SJbsidiaries
in Europe, the U.S. and Australia . You don't franchise your otrtbts.
Yo1.1r p,oduct <ange conslsts of upmatket nutdtious sandwich&$, OOg�ls
and dcnuts as wetl as 0tg.anic soft drinks and faìr trade coffee.
You want to ta.rget the upmartet segment of the busy office worker with
"to go"-styte lunc�s.
Ouest:,n
i each country representaWe on:
the populaOOn of his Qlf her cooncy
the sizc of thc ocooomy
the tega! system
thE com�tlti\,e positioo in th«:t café f<Hail sectof
What are the advant8g!S o f in,estingin .w?
Canyou � l'M 11n Idea M ...?
What do you mean by._?
Howd1>yo11 lhil'lk 1011 Cfln $ChifNe thk goal?
Wht'lt IS)'O'Jr pciiçy on w.1
C<iuldyou tilJ me in on •..?
Listening: Tectonic shifts in the global
economy
a t.apinto(v)
b indi�nous (adj)
e m11'd:set {n)
d obetacle (n)
1 Replace the underlined expressk>ns with expressions from the box.
tt is hard fora Westerner to live in China because çeople there ha.te a dìfferent�
thinkin2.
2 India has a largo pool of well·cducatcd yoq pcoplc which forcigl companics can lWLlQ.
tbeir a4ra,taee
3 \Vhen ent,ring the lndian market, muttinationals hiwe to compete with olhef
multlnatlooals as well as wlth � oompaniès.
i
4 Sometimes bureaucracy can be so complex lhat th s represents� to
$eUing up busineS$ in the oountry.
, ,10�--liry
2 The radio program 8u$ln#Js$ Editlon i, lnterv'-wlng the ehlef
- "e"'-so\\S .ç.,v \{\e �d\�e. s '"' Hil.e
eeonoml.st of a major business Journal about rapldly developl,c
$\O'o"'-1 f?:G'O"'-°""Y
counttle.s . Usten and t-ake notes on the polnt, on the rlghL
, 1-1,e F1' GlobAl �00 lisi- �"''"'' """'J. e,c°'!Mfl e o��'"� °'\
3 Write a s hort summary using your notes.
e�iVief!Y'1�
- '<\ew b'-'Sl\o\eSS �el ""\o\J. e,c""�1e
_
Offet+v."'1\¼-le. s �v ""-\\J. sh-tlo\�t-1.\s o,ç
'-Je. Sl'e. Y\\ \l>\V.H·;\\"'-Ho"'""ls
107
Il__ _
_
Raptdly developing
economies
,
Describing trends:
�
Sitmme112:1n, ll'lf0ffll•IM
fr<orn•&ilfh
Bus.lhe&s Skllls
Economie growth
1 Look a t the graph.s below. Only two of them show real figures. listen to an e.xcerpt from
a presentation by a universit y lecturer and mark the two graphs which are described.
Skills
GOP grcrwlh <li China
-,
,,�- - - - ---''- - - - - - - -
______________.,__,
,_,_,_
GDP growtti or c1,ma
15�- - - -
----,
-
11+-+---',._________,,,"--\-----I
9H---�,---------=7"'"'--------\- ---l
stt---------------1
5-V-----------------1
3
3
GOP growth Of India
GOP growth ot lncha
11+-------------------l
11+-------------------l
,s
13+---
•+--------------,.,,,,."""r----1
•+-----------,-"7"="'<---1
\--=---+---� ---l
,+ ---F�""-:---+--�--l
s+--+----_::..._----i<-- ---�
s+--t''---'�__.,.'d"'d'----�
3+-\- ----l'- --------'----------l
3-1--\--/----------'----------l
=
,t----r
2 Usten to the p<esentalion agaln and fili In the ga:p$.
Chlna's GDP growlh raie
r;.i
alo
�etl11M/A(lo,�U'tlfdNct'il:W\g
......
Grammar
2
3
4
5
6
7
8
108
---''--- --
. °'�'
10,
.. 1992,
just 3.8�
1990.
but lhen, in 1994, it started to fati .
Rr$l growth dèclìntd
and
reached
7.8� in 1998.
But then we <:ouk:J see a
increase
GOP g"°"th to 101 in 2003.
Needless to say. due to the woridwide economie etisis tht growth <.Jte ._............ .
dcamatleally.
Stafting with an impressive rate of 5.6% in 1990. grCMth ___ .. _··-··� .. --···-··41 -··-······. .... ... around 1 t; rn the foUowìn& yter.
Unfortunately a period of ralher
growth set in and lasted tiJI 2002, when
economie growth when hit anothe-r
. 3.8�.
Whic.h w-a.s refle-cted t,, a boost ......... ····-···-·· growth .... ............ ··-·· .. almo.st 5%
8.5%in 2003and ... 9.7�in 2006.
In 2008 India was also hit by the economie crisi$. so gcowth ···- ··-..•. •.. .._ .. ... . .. .. ...... ····-·· ··shafply and could mach 55' ·-·· -·-.. ...•. ·····- 2009.
Business Skllls
3
Work In palts. Student A desorlbe• 9razll'• economie growth to ,tudent Band st..dent 9
descrlbes Ruu:la's economie development to &tudent A. U&tefl to each other and use the
template below to draw the graph.
� Ocncrbng tronds
• Stl.ldemApage 134. S_.udent Bpage 128
GOP grow1h staried at (minos} ·-" i, ·­
There wlliS n() grOW1h �
Thcnew• nq11tive growth of ,., t in,..
GUP Wlcreased sharpty/rock.eted to ... S
in._
GOP teU dramatically/plt.l'llTleted lrom
-·1 to ... l..
GrONth '-ictuated aroutw;I ._%,
fhe cn1Nth 111te rem,ined swble �l .,, %,
COfl grew by ... Sin ...
15
10
5
o
-
-10
·15
Oescribing trends:
Comparing economie
growth
1 Study the graph below. What does it illustrate? What do the two Jine graph.s h.ave in
common and how do they differ from each other? Then divide the developments into
time perioda,
GDP growth of thc U.S. and Germany
5
4.5
•
..
�5
3
•
1.s
1.5
I
o.,
o
_,
-0.5
-1.5
-u.s.
Sourc:e: World dataBank.
- Germarry
109
Il
Rap,clly develop,ng
economies
'�----
·-
Business Skllls
2 Now read the text and check your answttS.
.......- ,r�-�....
--.,-..._. ....,
....
....
be.1w�=�-·l
"'e wilnessed in 1be US.
'llw! graph il1Jsi:m1es the GOP gNM1b or1he
t:Ye of ,uouod 4.3" betWl!oen the )ears 1997
US. and Gernany becween 1990 aod 2000. •� aod 1999.
199�, "''as reflected b)1 an ave� Rrowth
f
Then there "'a.1a ih,rp deçrea:se M3lm051
filh) ofonly 2\i n GN·many.
1 T'W(I J$J>em are (13111culerly slrikìng: fir11:.
f bolh counnies· growth roces fluctuaced
to 0.6 '4 in 2001, but gro"''lh impro\--ed 30 A� io too Stales. gtvw!b �hra11k
i
r.-11 dl) l() J.6\ in 10()4. Sin,:t tt1er1 g1vw1J1
$igri1r11n.1111ly rn)11'l 2000 ,ili 2003, b\11
\ li <xH'lSÌdtr.ib1y ;in,1, $t,1;01\d, Gt-t1n1.11,y'�
Ccrmanf cxpcrieocod no growth and e,-cn
� growth rolCSY.'CtC mudl IO'l'llf,
or<.iDP bas bccn on the declinc,
t
looking fi..-sc al GDP growtb in tbc U.S,. zo fo c:ontneA to the U.S., GermlUl(S g;n:,wth
neg.aCi,ll grov,th in thJS penod.
we cao see tbal thett1 was a coosiderable
rates v,·eni rouch smoUer, and growth
Then lbe growtb rato impn:,ved l'airly
conuacrion.s mucb more pronounced. In J) quickly, reaching a peak or 3.0'tin 2006.
� drop to ju5l "low zero gro"'tb ln 1991. But
'o tbe ecooomy RIOO\t1red quicldy end growth
Be�use of the worldwide ee<momie
1993 GOP gnl'ti·tbplummeted far below zero
t-0.8�) and, aJthough it ....-ent up co 2.7!, i n
,
reoession, gl'O\Olth r.à:tesin both c.untries 61!II
readied J.J,i; in 1993. From tMo it
fluctuated betwe.en 2.7i and J.01. for
below zeroafter 2008.
2.ube followi�year, a declin& in 81'4:M'th set in
l roll(nt(ing rn..- )fi:31'$, f<illow'l"d by o Mable
tllUil 1996. Tht- Sl3ble gtow1h petil)d, whith
�
n.
I
l
--
'
-.
...
-
,......_,_. ____....
·-. w- . ,,. et est
""-
3 Go through the text aga in and hlghlight all the expruslons whleh indicate changes In a
trend. Then organlze the expresslons by meaning as shown In the grid belO'tll.
upward mo'w'ement
downw.rd movement
downward movem-ent
upwa,d movement
.,.ecove.,.
Writing: Comparing economie trends
1 How can you make a graph descrlptfon easler for the reader to follow?
Tick the eonect answers and find examples from the text above.
0'f u:sin&, short sentences
by using differen1 sen1ence stn,cMes
t,y hi5l1l,g.l,i"1,5 ccrtoh eiopoo.U.
by using $tfOM& metaphors
bysummarialgihe evene, drawing a condusicn or
gf\'ng an ou:lklok
Graph description
by gNing an intl'Oduct� txplatiflg Y<t.;u t"8 graph Mlt,1$h'\lDes
Dy OHCnt1 1�gine develop!l'lefl< yeart,y yeat
byorga:nizingit ii a cie.- end �aJw�
byuMI& linh'IS words10 i,,p,� the 11011·
byusing a .,qil'lèty of $1prtsslons describi'lg ct1ante
GOP l>t'I' uq,lta lll$> aillcd lno::ime per
tbPiU.'I, 1S u$e(I IO meas-ure t 001.mtr(.s
"'ealtb. and b a good tt'(bc11tor ot a
cOOJJlry's purcb asbg �.
-8'ezi1
-Russi-a
India
-China
2 The graph below illustrates GDP per capita in the BRIC economies.. lmagine t h a t you
work for 3 comp:,ny whlch ls conside:ring m:uketing lts brand of toys to the: BRIC
countrles, Discuss thc gTaph uslng the expre-sslons you hove highJlghted above and
write a report making recommendations t o your company.
GOP per capila of lhe BRIC counlries
12000
11000
10000
9000
8000
fl't 7000
uj
::, 6000
>UIAI
,ooo
3000
2000
1000
o
I
I
t
--/
'�
I
I
,,,,
----
...
-
,---r--�·
'
���.����··��AA��
.. �
�·�
,s, · ��
�
�·,"-'·�{,li ._,q: � � ,"-'· $-�-� �- "'-�"' 'r t3-'�
..
'\.
110
'
'
'\.
11
n,,,
'\,
1!
•
l
Cosmo, en AmericM oosmetics oompaoywhi,;h had
eme,ed t heChinese market in tM lai& 1980$, started
selling it.s 1(8S line of sk.in care pmducts thene in 1999
after the pmduct had beoo,ne a sucoess w1thfemale
eus.tomers in 12 other bst Asian countries.
KBS is a premium product which claims to smooth
the skin, reduoe wrink.les aod whiten the skin- a
populac fashion with women in Ea:st Asia. Theproduct
line was manufactured in Japan and imponed to
mainland China. lt became Nghly popular theie wtthin
months dUé to hetwy advertlsing, rnostly by means of
oelebrify endorserrent.
In September 2006 the NaUOnaf �ity ln1pection
D<>partment (AQSIQ) oosood samples of tho KBS rar,ge
and annour-.c&d that nioo or ti» KBS sl:in care
products contained ctvomium and ncodymium.. Thcse
substancts: wefe banned in cost00liC$ by Chlrese law
but tolerated to a cerlain degrae in other counlries d
they oocurred naturally in prod1�s or through the
monufoçu,ring prooe�. CO.$mO dC11ied the olleg�ti01\$
of the irn1pection department and claimed that the
findings �re intor<ect.
Although th& company offeted to gjve thei,
customers a refund, tt'eyhnked lhe refund procedure
to certain cond.rlions. such as customets havmg to
sign a waiver stating that theyreoognù:ed the
pmducts were not harmful. Customers were e�
given a refund if they had not used more than t\\�
thitds or thc p(Oduct
The s.tory receNed full medi.a 00\'erage .and Cosmo
wa.s hcavily criticizcd for their rcfund poltey a! it was
in part illegal under Chine se eonsumer protection taw.
At the same time. hundreds of consumers had started
to e&k f0' refundJ. caus.ing riots at some of th�
eomp,a,r,y's storcs.
In the meantime. cusromers 8:11 oYer East Asie he<f
bceomc worticd. so thc gOYCrnmont tcsting c�ntcrs in
Hong Kong and Si:ngap-Ofe slarted testfl.g the
pmducts but quicl:.tj announced that the prod1.1cts
were safe.
Four days after the AOStO had pointed out that
nine of the KBS pro<fucts eontained unsafe
substances Cosmo withdrcw them from sale i1 China.
aod AOSIQ temporarily bannod the importatkn of
lhese nine products. Foordays after this, Corno
stopp,ed 1E!funding.
Web research: New economie
developments
1
Research the economie development o f one 8RIC country
over the lost few years and upd ate lts country profile In
this unit,
2 Choose a country you are particularty interested in and
resea,-çh lts key economie growth factors. Then wrlte a
country profìle slmltar to the one.s In thls unJL
Writing: Assessing investment
opportunities
Imagi ne you work for &A economics institute. Describe the
development of the trends illustrated below and glve
recommendatlons regardlng lnvestment opportunltles In
these countrles. Use any ad ditional Informati on you have
on this subjecL
"'
""'"
110
,..
100
.."
....
".,
"..
..
9'
"
90
China and Russia: FDI inflows net
-
-\
ro
",.
"
"''
o
lO
-6
•
I
•
_, .
•I
I
�
I
.
�
.
---China
Source: Wor1d d3ta8ank
Reading: Products for those at the
bottom of the pyramid
1
Read th6 foflowlng artlcle and answer the questlons on
p,ge 113.
A growlng numberof glob&l companle$ are b(i lng drawn to ll'ie
seductl� lde. that money c3n be m3(1e by de\-elopfng 111i,:J matt:ecrng
produas ror thosc �t thc bottom ofthc pyramid. some foor biUioo
peopki around tbG world wbo ekc out a living on aboot two U.S.
1 doll11rs a da)'.
112
Last montb, the Execurive Sustalnablllty Roundtable, In conjunction
wid1 lhe INstAD Soc.:ial lJu,c,,qlk,n Cenlre. highli.glik:d lht Rìle dia
buslnt:Slle$ çan pby in addrusins the n�i; uhtie poor. ;,i 111eill <1."S
1b& poll?ntlal tbat lower income mark:ts hold for firms.
10 Whco cttallna iniKWtlh-e, new prudutU for matt,ehl a.l thti bu.:sti or
tbe pyramld. Pl!terWblte, Dlrecoor ofGlobal Sustaioabi.lity .it Procter
& Gamble, notes 1bat oost alone. 1s not tbe is:sue. ·tt's nor rust about
111akin.g oon.sum"r prod1,ut� che�1;1!'r." he $11� .-Yoo'vt gut lo 1;00-.e '-'I'
with proc.lu1;t!ithnl •et.U11lly ioeet the :spe:çific 1)Ctdsm lhe boc.lò1J1 of
l) the pyramld. How do you. des5gn p,roducts tbat people oeed? You
ba,·e to actually go and find out, aod so send re.searchers to find
out bCM' people b,1 e - how they do thel.r washing aOO the.lr cleanlng (an<I) wh1t thelr i>")blems tre:
"'-e
He outllned the case ofa .,.,-atar puriftc-.adon sysMm called PUR,
211 whidi P&G tieveloped in ooll,bor.ltiotl w 1th t!:w, U.S. Ce.ntit kir
Obeas.e Com.rol furc::ommercial ma.rkcc$.1argetin,g low ln(;(lme
consumers. The produà had ciear soci.al benefttS. providing clean
drinking water for hou!ieholds in plams 'Where ,he heahb ris.ks or
,int.rea� drln'k!rig 111-etet are hlgh, espectaOy lor d'iildn:n. Mter
2$ thtte�orm.rkMteSl$lhough.PUR wal> looklnslikea
commerciai fai Iure. Mail)' «ber firms would bave dosed down the
project, bue P&G i:nstead m0'\'8d PUR to h:s Corpor.tte Sustainabilit)•
drf)l);rt�n(, �lng ll'lt 1)1�-.u�1)1\ lumhl.g !I pmOI. Sin(l'l 2003,
P&G hii� sc•ld the proti oo 1'1 t(* .
30 A $tCO•� OlSe w&S p1,11 fwv.11td byCluisli11eRe1.1raut, Oi�or­
Erie•'S)- Aè\ffl Pn)&nimn� OC 0::ctr-idté de mine.i, HiDF). Shi­
�llpls1i1,ed 111..JW EOF. t>iroo,;h Rvnil Ek:ttf'içi1y ,11� Strvki,s
C',o-mpantas, bas belped bring elecuiclty- m rural areasof Mail.
MorOCOJ aod: South Africa. wh.ich wcuJd ha,·e been otberwJ&e ·ortthe
>< grW ·we """' bN1ugh1 el!OJICUy10 800.<m P'(J!Jle (oNI) oor gool
by 2010 Ls one mUUon:
A 1hinl � w� .,�srnted h�· INSF.AO A1t\•111,oe,t Mfuìllgl':B�l'll
J>rognim.me 1'lurnnll8. Jay3nth Bl:11.N&1(\gha,n <,r E$:Sil<.,r Indi� 1md
CJaude Darnautt, Director of Corporate Sustainability. with Essilor
-10 Jntemational France.
E.ssilor Lnl8motiooal. whkh manofaaures and dl.suibuti-s opdcal
t�nses. bmd tbat In plaoes sucb es ruta.I lndìa. tbe absence of
3d�1.1(1lt �'f! ('.fll'f! {3(:illtieS l\3S '*'-Uhed In 11n 11hMSI 1'11:gligi'hle 1,1:;,(!
ofspec:ta.<:lè.$. J;fi(X)CfCc�d reft&OO\'eem>r tt Me orthe Mll!or Cilu;Se$
-t$ ofbUndness, whldl if deccctcd ll\ld corre<:ted. "'-ould glvt a fresh
IMSe ofUfe to individuals. Seeing an opportunity to add.res.s chi.s
underser.·ed market, Essitor lndfa established a rural marketing
dMs.lon 1n 2004101n�asie tht()()Cllpatiys re;t.Ch.
30
r6
At tbe furu.m, participants also highligtited tbc importanoo orfirnUog
good parmersasa kayc:ompom:ntofbottomofthe pyramld
str,111agies.
lllese partners may b8 from tb8 pubfic or privata seaor, as io tb8
"'
e.rise d EUF. ·we are MVer working alone, Heuraux says. ·we are
alweys ""'Orking wQh pa11ners. such as TOl&\ Nuon.. RWE. Jlydro
Ot.1.-li,e,... Sl!ld l;SKO\t.•
1
Language work: Word combinations
and phrasal verbs
Match t h e words on the left with the ones they correspond
to on the right.
1
A$ ror Proaer& Cemble, 11
60
Ms been "'"Orttng \\'lth NCO$ �hldl bove
be,en lf)'lng to rais.e (lwa rene6$ of1he oeed to 11'%t drlnk!ng "'1:11er:
"For J>l.K, wc !et our NGO partners use thcit di.smoution chonnels;
NCOs sucfl as Populiltioo Servk:cs ln1emotional whicb M\'8
e�r11lif! In heahh lss� • Whl1e SS')'!l •for oonunerdal proc:h.1C1s
deo,:ign�I fnr bt111twn or 11)!! pynimld ma-,hl.s. Ulre Oow11y Qne.Rln!-11!,
w-e- use our owo dist:ributloo chanoels."
o�
A$ J�·&ftlh Bhuva.ragfi.a1\ of (!ssllor
lridhl o:lali:"$,. "'Wél l�n"'1 Il�[ In S{lme �S\!.$. 1hil �1vl0e! Nls robe
brougbt to tbe.ir door .sa:eps.•
;o
The company bais de\lelOcped li mobl)e rtfractiOn van "'hlch facilitll1e$
El)"8 ex.amination and diagno.sis. as wc-li as tbe manufoctwe aod
deJivery of spectadas, with its tecbniGians ooUaborating witb non­
profit fl'-'11flerit s:uch iu Sii.nkara Ne1ralaya ;md Il*. Arwtnd Eye
hosp11:1I.
6
1s
!JO
9usi.tless pfays a couple of important roles io terms of sustainable
soludons.. she sa)'S. • From the demand side. sociaUy r-e-sponsible
bu!llr»ess r.an hf!lp tolnfarm oonsumprloo p11nern� From rhe supply
Side.pl"Oltucl: fnncwaUOfl &Oe$ to the hean ()f soclal and
en,•ironmentaJ 5'1.SUinability,"
e
•
awarttness
d ovt
....
noods
p0tential tor
g the needs
h patterns
down
f
7 off
8 reise
9 consum.ption
2
lhe grid
b the pre,sure on
mee1
5 elOS<t
4
Aeo:.ss IO markets ls abo c,vcl3I.
l�UNUX � IOIIWM01! ...,., ,. ""'' ,i.,.,1f1e,i,1011, EOr. An,1, Il
much "(l\Of"e iu,pectful 10 assiti In ,s,enlng up loe,;I etie....
Y buslnesses.
usiog solar paocls or fud po-,.,:1cd gcocr.itofS, as o-ppooic:d IO
donating the.m. • l'ou cao go tbe bumanitatlan route or the market
Nlù�- In 191)1, ""e srnned Yl'hh .s h.umanltarlan rntl'1el, do1\a1tng
3'!flf't'll<IN. 11 dlttn't wMk. Ni)ooe Muld 1�pAlr1hP. gen�nt<WS, and
ltbe pro;ect) wa.s very.small • just a village, a scbod, e hospital Lr
we waiw to bi,lp a r.ew million (peoplej, we ha'l'IS to ma.ke it a
busiDess. 11.nd make il Socallysustainable:
•
eke
2 address
3 hold
Now use the e:itpre&Sions to complete the sentònc:H below.
You may need to change some word&.
Most of the multlnational oompanies don't know how to
.• of the poor.
2 Aftcr the takoovcr ofDetln$ Ccrp«ato. management has
. its Ewcpean ptanl:s.
..... a11
dedded lo
..a
3 The Smith family barelymanages to ...-... ...
. . .._..
lt.iing from dle father's work on the farm.
4
Comeaid L td. runs tr&intng courscs for company m&nagcrs to
-··-....... ·-·... -......... their ......_ .... _. ___ in etOS!K:VltUtal
matlérs.
5 At the last minute the lrish gOYemment stepped inwith a ban
of f: 15 mi111on l o
lhe tocai Il industry.
6 Our mar�t research gro14> aims at findiing distinct
2
Write a short euay answering the que&tion& below.
The bortom o/the pyramid (BOP) has become a catch ptvase
in gk)bal marketing.
What doe.s it mean ancl why has it become oo important f0<
i
bus nesses?
2 Reftr to the thr'ff e:xamples in the ttxt to ax.,:,lain wt,,, eost
alone is not the issue when d�eloping new products for the
poor.
3 Explain Heuraux's comment on sustainab&e sofutìons (line-s
8�85) fro,n !Ile s�ply side.
-··-.........
. . . ·-.. -..... or th0 ag� group 60,.
7 lhe Chir.ese alltcmobile market
huge
. Western prodocers of small cars.
8 llw customer seNice of most mobile phone oompanies
_ _....... Otllythébasic ..... . _. ..... .........ofthoir
eustomers.
9 lhe bliuard des.tro;ed several overhead powe, lines so lhal
half of lhe eOUl\t,ywa,
113
Starting a business
Lenming Focus
• Discusaing eni:reprene1.nhip
• Undtlr$11U'ltlkig dli('! <1rg11nl:i-111icn
of .i business pian and wrltlng
eeev!Ne sufM'\3,y
• Undcrstanding iMid idcntiying
the main forms of comparwy
structwes
• Usillg !�al 1ermit10logy 10
desctib! company cw.flerùiip
Warm-up
�1,
Self Study
• Starting a business: key
e.xpress1on3
• Future tel\S!s in a busilesapbn
• W,itingan e,,eculive !klmma,y
How to lnterpret y()Uf $COre:
14-11: Contrary t o popular belief,
entrepceneurs don·t show a specific
••• ol akills and ralent>. but there
are rhree main points that all
cntrep,eoours share: pcrsistcnce.
pursuit of objectNes à1\d h.atd wort.
So tf you scored high on questions
3, 5 and 7, you mig.hl COn$lck>r
startmg your awn business ooe day.
10-0: Usua11y entrep<efleurs are
quite f1exible. althougtl you can
.atways find exceptions. Geoérally,
one ean SaJ that the followiog poims
are common to H'lttepceneuts:
determina.-tion, pursuit of goals and
diligence. So tf you $00red lç,,y on
questions 3. S and 7 you mlght not
h&\'e developed the necessary
entrepreneuria1 spirit yet.
114
V/hat is yourattitude towa,ds taking
ri�ks?
a D I don't hke taking risks and try lo
avoid doing so.
b O I sometimes tate cak:ulated risks in
oertain situations.
e D Yes. I ttlink you Il.ave to rnke risks t o
win.
5 Wheo you soc gools tor youtself, you usually
a O set sman, shott.term goal$ so that
you will be .sure lo achieve them.
b O set larg4r, long-tel'm goals, not
knowing whetmr you'II be able lo
ac:hie>Je them.
e O tend to ignote them later.
6 Do you beliE»ve that suocess and failure are
a D inrluon,cod 1:J1f yout petsonal cholcos
and outside factors?
b O under your persona! control?'
e O mostt, a matter of luck?
2 Do 'fOU lend to uust yout gut leclings?
a D Never or rarely. I belle't-e in facts
and flgures.
b D Sometimea.
e O Oftcn or almoot a!lm,ys.
7 Woold you be wiling to gwe up much of
yoursleep, tam� and leisure tim& 1oryour
busi"ltM?
a O Yes. one or two of the alxM!.
b O Yes. aH three of the above.
e O No, none of the abCNe.
3 V/hen you fail et somettiing, you U$Ually
o D get angry at yourselL
b LI try again lmmediately afterwards.
e D give up trying,
4 Vlhat k.md ot working aituation appeals
most to you?
• D Working by llYfSClf.
b D My working situation dotsn'uealty
maltec to me.
.,
e D W()rkingingroups.
\
Wori< out your score using the key end compare
your results with a partner.
'
'z oz' zo'
o
z
o
l# 9# S#
••
t# Z#
I
o
z
o
z
o
z
I#
•
•
q
:t10:)fW'OAOJ .w;c
Listening: Setting up a !business
1 You are going to hear a radio prog.ram on sù.Jdent entrepreneurshlp. But what
role does entrepreneurship play at your university? Answer the questions below:
I ls your university known fof its entrepreneurial aw.'ity?
Grammar
2 Does your oniversity market innovatWe ideas developed on campus?
3 Does )'Our univcrsity pro-,ide assistance to students who wam to set up a business
on their own?
4 Ooos your faculty offer any eourscs on entroproneurstiip7
2 Complete the sentences belOYI with the correct form of the words from the box.
Before going into prodUétion. a ... ..
has to be buiJt.
. of the product
2
lne egency's superb tnéH1'eting concept sòll needs to be
,o meet our specific needs..
3 Before starting your bu�ness, you ere requested b-j 18\v to
·� .... your company,
•• such as rent and wages. <:an bé a
4 Hig:h
burden in 1he start-up phase of your business.
a
5 BizOrgsells a tempiale whkh makés
business pian much easier.
3
The m e dievel university town of Cambridge ls one of the
world' s famous centers of ln.novatlon and busineu start•ups.
known H the Slficon Fen, Micheel Benyon fl"Om the radio
show, Busfnes.s Dally ls there to meet young entrepreneurs at
Technology Ventures, a conferenoe which has been set up by
the university"s student club CUTEC.
Llsten to the recordlng �nd flnd out about the foltowlng;
cune• Cambrid8EI Ur:iiYètstty
Technokl&Y and En.tertirlse-Cl1,1b
What is Rebecca's business pian ancJ how successful has she
been s o fuo
2 What sia� of development is her bu:s.iness Idea in?
3 V/11at are her pl.ans lor IU'lding her business?
4 Wllat is her anitude towards setting up & bus.iness on her c,,vn in tough economie tirrwr.s?
4
Could you plcture yourself setting up• busfneu? Oiscuss the question and compile & 11st
of argumentJ. In favor of and agalns:t s:ettlng up your own buslnes:.s:.. Cons:ider tM
follow lng aspeet&:
tlst: I funding and costs I wori:lng co-ndiliOf� I pefSooal eontrol I resp onslbllitié$ I sk:ills ancJ
qual ities I motrl/ation I self-mana gemenl
5 What do you think are t:he main ,easons why a lot of start-ups f11il in their flrst years of
exlstence?
115
,-�-------
Il
Startng abus,nass
Reading: The Corporate Fitness Business
Pian
1 What kind of informatlon is an investor or a bank lookin.g for in a business pian?
2
Read the business plaan below end answer the following questions:
1 \Vhich phase is the business in?
2 \Vhich purpose does this busints.s ptan futfill?
a
w help the entrepreneurs pian a oourse of action tor the n,;:,.v business
b
ro help pot.ential ilM!stors or bar& managers examine the busimiss opporurity or 1isk
e
to help the entrepreneurs disoover potential problems
d
to help prospectiw supp(iers in their decisionwhether to sell their products and
services on credit terms or not
Corporate Fitness Business Pian
Company aummary
Company Otnerablp
COt-p6t'ilti: ntDtSS lu prtvately he!d oorponìl1c.it.
The � foumen s!'ar9 cmnaslup.
0.l\ll lell!le!l - tOl.
JlM f\1fldllS - JOS_
RooortA Com((Z.- �
Start.1•.r�W111.m•..,.
SWt1.1,p wiII reqWri: oppco:wmtet,- S300.000 of
,ea:pt.a� $203.<XO Cd wtllth Wlll b! r.� bf
lbe fou11dé1nrd tlleir � The mollWi.Qg
$100,()(l()will OllllC UO blJl.
Appt0t!.matdy$ t40.COOwU1 be allooaled t)
lei.lleh� it,1pm<i::ment:111.1111$75.000 l:i
e<Ni;lmcnt.
Com.PftllJ l.(:caliomaDtl f�ilitiff
Carporate Fitness hoodquartanare locateci in
®Wntmço s�. lfpon expan.w)tl. otft.(es lYill
be m111od toa diffuront locati.on.
-
Se-rvices
S.nrk• OHcftptkll.
Corporate rimcss pfO'IWs Y,>elmess struegiat
programs Il) bwio9::!E0:8 in ttt..e d/JW!li.C1N'nS&ttl/J
Ccrporate f'.tnes ._;u wcdt with the se1!.far
managuier.i otoortpaa:ie:s 10 belp detebpa
nru:ston sta�m,m mt 1111 cust«ni!l!d weuneu
progrui. Thtc.ientOXDpeny'S� wi1I
llllè,afg<, a beallt-ruk aoalyru. foll)wir.g wbJcb
eacll emplO)·ee Wil! beglven tllo! Ol!90rtu:ntty to
ltl98l w:th a he-t.� prof/Jss:onal ti>dasign a
p,n�ml!::!l?d h.atth progrs!O.
rtna!.J-/ , Corf:«Ue l)UIMU.'lll tul'!l!Sb 9el'lltlt
�lttwith mphyee progress �ports
witb wtlcb 10 canyout the lna01rre pro grui
nnd pC!l'l'll!J 111,-M.c, e�11 la tM! beb.Wlortù
it, ..
'Od: torce.
116
CompattUve Compart.lkm
CotPOR� Fllr.e$$il not imzwilr • bulth <llu.b.
as are tM ma;.onw ot ec�pN:'ib>l"S.Thls
trt111dW!c11 h:1 iii lbé bwi,nt:;i o(1!41ll1 c11re 00111l
��Il. The 1111.ior ful"-'li�n is to wwk with
Cliecl <n:mpeniei to impl�.,,_,,t weUnè':'à
51J"ll�i#l> ÀO int®l!ll f»rl lf lbil �io:! i$,
rollCN1iitgupud caon.ilo.inl tbe l ndMduals.
Prices tor uting Ccqpon1le })!Jless" sen1:ies 11.N:
oollll)t.Abto to thooe or higbc«md 6:tDes �ln
FolbWlt.g bltlal pro:DOli4M.1.!lcttvlty lb-Outb
"d•1e1t�ue11b i.n n��pen. m-l'AtiQd uo
ldeviruoo {Hld rodio, Cl:rponate Ftll!C$$wìll
11:igll.lllcattUJ n!d:uoe IUJlfUOOliDMlello:utn lbe
b(ipelt,al Y,-On}ol-mool°h will all�cl p:4'!ntil1l
ciicots.
1i11H FC>recut
Sak-$ au J!C"jec»d. ti> incrcaoo quickly ll'\'lin
$l7,500toS9S.000 IIIJriog lMéffl }"E8l the
monthly fC\'ell.UC brolkc.en poiot i&:at S 2M83
oo that th�busi.oassshl!lid operate prol:.tbl;,
frcm l/.a7 onwards.An!!u.a.1 sales are «t;«ted w
rise from 153-9.07S i.o tl11, finii 'fM1 to S650.750
in the seoond aod S82S.600 in tbe thinlyeu.
Market Analysis
Summary
'Ibisvcar tho U.S.mcdk:al tDIwasS738 mil1ion.
çf whic?I :11.i,i�.(S p.,k.l K �en.1 $1.'ulJi(>.$
in� rrtu.rns on in:�tm::its in wel!Dt:ss
programs ror v&IWW1 Ollllpuaid rariemg frcm
$J9l:1 tolS.78:l.�181 Eleçlli(s llirwaft
enginesWVi:si;,G, f..lr�e. $a.Te$ $1 roiWQn,
Mu.apintiat Suntm.a:rJ
per )'Cill'tbtough il$l'.'elln.e#prcgrams,
C:O.r,omte Fltoess lt headed by tllM tntlvlduals.
Ti-11vd,:,'11 lu:,.1niaceQimri-11 n:JXlfltd �Yines vf
lb! cw at.d Dt?ectat<ll sa� aod Ma,iaunc
S 7.8 million. 1ttribubbJe roieswclloe:,s:
o� tbe tc0tltle$ QI 1be Diretlor01 H$6.1UI
progroms. a.od a rowrn cf S3.H hr C'JCO" oollar
aD':I WellnessPl'/Jg.ramS anl!. lb9: Otrecrorof
i.nveffil ID wetl.Dt$:I.
nnaDC@ and Admln1urat.10e.
import:a.nt demor,rap:hic (Mlf.cs are tali.in& pl.ilCC
Mlnlpineat nun
m Am.':lrica. Lhe number OI 1IU1led WC111t'1$
Dove knsCC:bCEO oad.OircclOfol Soli:$ 1ix1
avei.laWc IO fill o::w jçò; ii�i.Il&. wbjçh
Marltcdog Mr Jensao 1;0&1!X,cttrl bis
nuens Ul4l m:plo'f«nn, r-.i:ng moni Mvei-.
und..::igmd'Uato dcgr« «t thc Un.=w.rsirf of K'Oltn
oom,atitioo bJ tabor. Tb-Jathe ooalthand
pn:1d.i<.:lrtit, çf ei,;:1t e.111p):J)ee bimtno,seN.:W lQ Cluvtiro,.1Lnd !her, � J,i\o; USA fin l�
li 001tP411'(sm:o:ss.
Uoi'lcrsityof TCl(a:;,
fan.o Pert:.ins: Dl!-ecm cf Fillanooacd
Mutte-una Strategy
Adminbtrdlioo, � Perl-.i:is (XIJ)'.l�«f �r
Corponta Fi«!.(!S8wiU bEgir,by targeting small-t/J
un.dergrad'Uate wotk 4l tbe Uaivtrtitr o:
medr.urHa?ed bu!t.nesses :m the downm'n Saatè
Calilomia. Batt.dsy. a.o:! r««'fed bar ?-.SA from
aree. 111! nm task in> conrloee M:nJ,t
Vlllderbilt lfniver$l)'.
mrutffl od the beoe.tits ald ooods dwel!D?ss
Rllbtrta Coco� OirectuofHeahh llllli?ielltie:ss
prograw. This wtll � acoo:cplish!d by
Progni::11. �b Cio*'::-t rt,,;ei·,t,d lit:r (llide-gradu.&h:
aweu,tvely J!Ul'9.llng lnta-aetlon aoit
degn,e in &<er.:i$C Md 14<iYi::m tmt SciCil'.lel rrom
rela.tionships with b1.11iness professict.als
tbc
Uoivtrnitr dO!egon.
w�!d pr.c6t from � th& N1V-. Onc• •
-·
""°
sttoQg imap iJ esmblished.�rate fitness
wm .:se si12Uar s:rategies lC aark« lb &l:rrices to
LL�!oorpcra.tklns 1n See.tteao:1 om�areasct
__
.,
t� IIOl'l'IN:t�://Wt,w,'Jp#M.('00!
•
3 Ooes this business pian cover ali the imP')rtant aspects of a new venture? What is
missing?
4 Why mlght employers have an lnterest In keeplng their emplo�rees fit and healthy?
Match these terms from the business pian with thelr definitlo,u.
a
this type of oompany is cmned hl/ the comparry's
founders, management or a group, of pmrate investors;
h is generally not required to potilldze financiaf
information •s its shares are not t raded on ttie open
marl:et
CD<l
management
2 rett.nn on
investment
3 demographic
changes
b
assign a certain amount to sth for a specific purpose
e
suc�ed In doing sth
4 allocate sth
e the planning end control of coets
(e. g. cap;tal) to
sth
5
prNatff/ held
c°'poration
6 accomplish sth
7 mission
slalement
f
short officiai written a1VK1uncement that an
organiz.ation makes about the wock that ft does and why
il does h
g
a performance ratio us.ed to meas:ure the efficiency of
an ilvestment or to compare the efticiency ot a number
of dìffereot inwstmenls
h a ehange in tt'e population $étin from a statislieal p0tnt
of vie11 (changes in thP. disrribution of age, gender, etç.J
Discussion: Assessing the economie viability
of a business idea
1
lmagine that you have been a p proached by C-orporate FUness to provide a loan of
$100,000. Check the business pian earefully, dlseussing the item& on the check
lisl below.
2 Do a SWOT analysis of the business pian.
3 Decide if you want to grant the business the reques-ted amount Formulate any
conditions you may h.rve for the money lendlng. Be prepare.d t o justify your decision
in class.
Checklist for starl·UI'$
lbeCnmpaoy
• What business are they in?
1be Product/service
• How ls their product Or' servite dlffefent trom the
eompetition's?
• Who makes up lheir çustomer base?
Ma rket analys is
• Ymat is their target mart.et?
• What are the trends in their target miui:et?
M.arketùtg strateg)'
• How wiU they establish credibility? Why should
customers boy a new product from an unkno�f'I
company?
• What will their prici� stfategy be an.d why?
• Whal is the image they intend to create?
Finant:ing
• What is the total amount of funding needed by their
business? 1s it oeeded itYWnediately or later on?
• How soon wUI ttt.s compan.y ,eech bfeakeven?
117
Starting a business
Business Skllls
Executive summaries: What are
the key
issues?
1 The following text is the e>oeeutive summary of a b usiness pian. Many eonsider this to b e
the most important part o t a business pian beeause i t is wh.at investors usually read
first.Thia section should always be written laslThe summary follows a logica! flow
highlighting the key issu&E of the entire pian.
Read the text and com plete the diagram below by adding key word& which expreu the
-:
main business ideas of each paragraph.
The Cirde's mark4tlng stra1eg>' wm be
Business Plan The Circle
Executive summary
i
lnlro(luc:lhm
llw CirtW iS a stari-up business vl:!nture
betng (IM.-elc>J)'!<.I hy a rwo-mnn. two­
wnm 1m entmprrmeurship ream. 1lw! team
JP.nder and directorofThe Cirde i s
M urrey Cole.
Tbe òbjec.1.ive orThe Circle ii. to create
mQ(lern .w:oommodiuiQn tor youn_g {and
young-at·hearll, low-hudgm traw,lers.
l'unds tor 1Y>no,·aring che pmJlPl1)' and
,o suppl)•ing lhe nea!Ssary equipment and
l'urnishings.
\lmket 1>0tPnli:tl
2'!>
There are a lot ofbudge1 hmeb and
hos1els In Londoo tttt none orthe.m
Otft,rs great \'idue axommodation wlfh
an upmarket feci ai a budget prlce.
The Clrde's '11\'n markPI r�,m-:h
s� th.at due to mPap air fllres todll)"s
111 The.se peop� need a fim,
backpadiers tra\-ela lot. They ha,·e
environmentalty-frlendly and lo a c:e:1tain ,o slightl)' more money available tha.n
e.xte-nl uprnalbl plaoo to slty in Londoo.
b3Ckpactirrs a dee.ne or two ago anrt
rt"') ' .-.xptct m()ft' t1;rnry than the
ThP, Ctrde wm indnnP a sm11II C'.ll!P, 11 bar
generations befo.re them.
and a garden coun)'llrd.
Add11ion11lly, the amount of l ow-bud,,-ec
The project will re,qulre an lnitial
investmenl ol f:25-0,000 lo begin
u lrd\'td h.as increa.sed significantJy O\'er
Oper.i.liòns. This invastmenl wm provi.dà
the tast 1en years. �mlngly umouclled
thP. tnltl11Iworkfng raptral a-s well as thP.
h)• difflcull Ar.onomlr J)Prklds.
"
tiase<.I Qn web 3:cJ\'ertistng. oooperatlon
wuh wori(l'A'idP h(ls-el hooklng agencles
and wot(H)f-mouth, the latte-r gioomtfd
mostly through tran,I guide books sud\
as Lone!y PloneL
The ta�t audience ts tbc yoong.
'-.i St)'tl!.h, '11ngle. l nw-b1ut�, 1rnve1er.
'O
Flnanclnl summnry
Based on The Circle's detailed financial
projectlons. lfU'le <:omp:.'ln)' remtvcs thc
ft'!qulre(I f.250,000 In flm(llng. itwlll
r.o o p erate pmfitabl) ' I n ye11r o n e .
lli:! rollowing 11st is a summa!')' oflfw:!
tirsi )'ea.r's projecliwtS.
Ve.11rone saies C 151.000
Ye11r one expen$Ps: t5t.OOO
M :-=et ilw:ome before tn:t: !89.000
Retum on equity: 77%
The Circle
lnlroductìon
-·
Market potantiel
Financial summary
,..r.<:l:l<r.'c\ .9�..(\<'\l<i!:y..(Rof,)
�tog,,thllr•n..wtNt
Skills
118
2
Now write a similar executive summary for Corporale Fitness using the key words from
abo...e.
lii
Business Skllls
Using lega! terminology: Describing a
company's legal structure
1 Match the words in the box wh:h their correet definition.
:1:
tax retum
2 HM Revenue
andCustoms
3 creditot
liabilrty
•
s
Comp;;tnies
House
6 comparr;
secretary
7 COl'p«ation tax
8
Companies Act
a a person or organization which e.x.mnds credit to others
b general name cf tht form used to tìle taxes payable to a
federai or loCt'II g<Wemmenr
e lflgislation regul�ting the acti'lities of companies
d legal responsibìtity for paying for siomething
e a department of the 8ritir.h go.-ernment primari>,< responsible
for the oollectlon of taxes tmd the p.ayment of some forrns ol
scate support
f B senior officer in a private eompa.,y or public org;mi7.ation
who is the named representative can lega! dooJments and who
is re.sponsfble for ensuring that the company and its directors
operate within the law
g a,n executive agency cf rhe U.K. gl)'lemmen, which holds a
registe, of all private and public c0tmpanies in Great Britain
h tax: charg.ed on the compa�'s ta.xable iooome or pro�ts
2 Read the desc:ription of company struc:tu.re& In the U.K. and do the
following: tasks.
1
2
3
4
E
Think of different methods each type of comparry can use to raise capitai.
Oescnbe how each type of company is managed.
Outline how each oompany•s pror/ls are dsstnbuted.
Explain t owhat extent rhe comp.:!ny owner(s) or shateholder(s) wo uld lose
thea' personal assets io case of bankruptcy.
ffl:
Set-up: You need to regi:iter as setf-employed.
Management and raisillg Rnanc•: You make
an the decisions on hOH to manage your
booinHs. You taise money for the business
from your own assets and/ot with bans
from Nnb other lcnctc<s.
°'
Termrdogy for fC>ITT'et, of � o�
Ame,lc:an Eniflsh
• So� proprie:ot'Slip
• l!eneral P.MtnershiJ)
• Corporarion
(Ccrp. lnc.)
°'
8'1tlsh E.ni,lìsh
• Sole trader
• eerieral �anniership
• Ltd (priva:e limited
.,.,,,..,,.,
• PLC (!lUblie !il'ri1ed
COffl!>"'Y)
Partnership
Set-up: Each partner needs to regis,ter ss setf-empk,jed.
M1n#ttment and r,/1/ng Rn,nc,:: Partners then»el,-e,
usualty" manage the business, though theycandelcgate
l'é$pof'ISibilitits to emplO)"ée$.
Partner s ,aise money for the busine•s from thei, own
3SSCI$. a,nd/o, with k>ans.
lttcords and account,: You have to mate an
Rf!c.ord, a,nd accx,unt,: lhe partnership itself and each
Proflti: AAy profits go to you,
Profits: Eec;h partner tates a share
annl.lM se!f-assessment tai1 retwn to HM
Revenue & Custorns (HMRC). You imast
also keep reoords .shcwing your bus ness
inoome and experi:ses.
Liablity: As a solé trader, you are personally
,esponsi>lo tor any debts M up i:,,, your
buslntss. This tneaM yoor home or othér
àssets may be at risk if your business runs
into troutxe.
MC$'°'ditmtm fotnlr.
Grammar
-.....no:tpaoy str:
Sole trader
Mcoe''*
d w� h etlaln
il'dvidt.1al p�rtner musi make annual oolf-as:sessment
returns to HM Reveoue & Customs (HMRC).
lhe partnership fll'JSt keep records showing business
income and ex.penses.
of the profrts.
Liabllity: C,editon can claim a partner's personaJ assets
to pay off any debts .. t\l&n thow debts �used by
other partntl'$. H�r. if a parlntt l&aves the
partner ship, the 1emaining partners may be fable for
thc cntire dcbl o f the partnership.
119
Startng a buSll)f}SS
Business Skllls
Llmlted liablllty companles
Main typest Private li"nited companies can
h.ave one o.- more members-. e.g.
sharcholders. Thcy cannot offcr sh:,ros to
the ptk.,!ic.
Public limited comp,arjes (P'c:J must have
at 1&85' two shareho!dt-ts and most have
issued shf;res to the pubtic to a ,,�lue of at
lea:st E. 50,000 before they can traée.
Set-up: lt must be registered (illOOrporatcd)
at Companies House.
lt must h�we at teast one diréctor (two if
ifs a pie) who rn;sy a!so be a sh&1ehokler.
Public limi1e-d co�anios must havo a
qooJil'ied comp.iny secretary.
Management and raising fim,nce; A director
or board ofdirectors make the management
Finan<::e
dedsion$.
oomes
from
Record$ and accounts: Acoounrs must be
filed with Companies House. Pubic:
limitcd com1>3nies are strictly regulatcd
by law 10 publish their cc:mplete and true
fin&ncial position.
Profits: Profits ara usually disùibuted to
.shartholdots In lhè fo11n of dlvioond.s.
This.often t-xcludes proftt$ rètainéd i.n the
business as working capital
Tax: tf a companJ has "Bt'lf tax:.abte income oc
pro�ts. it must prl/ corporation tgic.
Llability: Shaf'thold�ts are not petsonally
responsible tor the compiiiny's debts, 001
diroctors m:,y be askcd to gM> pcrsooal
guarantèes or loo.M to thè oompa,'ly.
shareholders, loans and retained prolìts.
Public limited companies can raise money
by selling shares on 1he stock market, bue
flrNate limià>d oompanies cannot.
3 Match each listening extract with a typ,e of legal structure above. Then li.sten again
end note down the advantages and disadvantages of each legaI type.
,
... ...... ..... ............. .......
"'
'"
,"
"
......................................... . .'
120
...............................................
"
Helen Stuart,
Stuart Homes
After graduating in business studie:s from the UnW'el'$ity of
Cape lo..vn, Tom Grant decided he wanted ro combine his
interest in oontemporary art and de.sign with his passion tor
real African coffee. Thus, The African Café. loca�d in the
city centE!f of Cape Town, was bom.
The Afric8n Ct,16 interiorwith its ch.,nging art
exhibitions, fashionable wear and home accessorie, for
sale doesn't represent the ofd, tribal Africa, but the young
and modern uiban Africa. Ont, six months ahei the
opentng, the Austrian advertising executwe. Joh�noe-s
He1,1riger, happene-d to walk into the café. He wa$ so
impressed mat he irwited Tom Grant to Austria ro meet his
friend. the marketing expert Hugo Basel Both rren offered
him a partnersh_, in order to bring Grant's business idea to
Europe. As a result, a second TheAfrican Ca/4 opened In
Vienna end became �n immediate succes$.
Soon the partners were app<oached by people ali CNer
the W!Yld who were mterested in opening a version of The
Alncan Café. Granrs pa.rtne1 Heuriger was wry much in
ravor of expansion and wanted to rranchise the eafés but
Tom didn't like r� franchise model, so in the erd the
partnership broke up end Heuriger bought out Basel end
Grant. Grant kept ownership of the cafés in Vlerna aod
Cape Town. He and HetXiger sagned a contract that the
company name TheAlrk.an Ué coukf be used i,,, Heuriger
and his franr.hise� under (he condition that tlle style of
the café wa.s not changed and that no more than three
cafés were aUowed in eacfl state or country.
lwo yea,s later, one of Grant's friends happened to
come upon thrl'f;I oullets of ThaAlrlcan CafB in LA. aod
told Grant that all of themwere managed mher sloppily.
Shor1tj after that Grent discovered that Yhe Alrican Café in
Singapore had caused negative headlines as rt tiad been
invoh<ed in a restatnnt food poisoning scandal. Grant tried
to contact Heurlger to di�uss the.se problems teca.use he
was worried ahout the repu1ation of the brand name.
Ho,o;ever, l'llS phone calls were ooly answered by the
manager of the franchise and Heuriger never retumed
Grant's calls.
Project: Developing
Reading:
a business
idea
Campus dragons
Read the foUowing article and answer the questions on
page 123.
Campus dragons: The
entrepreneurial spirit is soaring
across universities in the UK
By Andy Sharman
Eotrepreoeunhip 1s ali tbe nge on P.rills.b campuses.. Rirga: protest,
hedon1sm or apat�. 1oday's undergnduateti are pssdooaie about
Sll!ltting up theirO'o\11 bu53oesses.
Thelr.., il See.1ni, 111 tlu;g.e.11en.1ion o( tllli efllt"epn�iieur. W)ii:fltertl�·
are buochlng an oallne tskeaway servtoe or a sysem for a!M!rtls:lng
on �ftlendly fau-food pad:ll$1ng. many fitudenu ate be.n to d o
tbeir o-,,.·o commerdal. tbing rather than wori. fcr a oorporate gi.aoL
Otb.erswalll to dewlop sl;Jlls d1a.rwJII make t hem attracdve to
gradua• recruilers. Either way, tbis trend bis come at e:<actl)'the
111 righ.t mornent,wbeo Britain ts enterlng recessSoo aod needs aU the
ontrepttneun it can gel,
,.
Would you like to be part of the overatl trend by becoming
8ft entrepreneur?
Think of a business idea, either a ne-w product or a service.
Write a brief outline describing your product/service,
explainlng its advantages for prospectlve customers and
estimating it.s market success.
Present your proposal in front of a team of other students.
Web research:
Finding out about
funding possibilities for start-ups
Do some research about funding opportunities for start­
ups offered by your home town or state. Share your
findings with other student&.
A t Warwiclt 1Jn.i�rsìty. tbe eweinoeurs' society ba.s more than
200 members.. Ulst month it iug_ed the fioal o4ils •Be \'ou r
Boss" oonte5C • their &ru1,-wer to tbc tefevisioo programmo �$'
IJtn. lhe judgt$ forthe competitioo ioclucled nipresieotat�es from
Mne urt he rn.ajo,r n..1:1� on the nailk AAJud o(gr,Juldt: n:uvitmeot
°"'D
,,.
·Theni: ha\·e always been entrepl\'!oeiJts comlng through," says
Miltt.MW Halc. Head of tovin.>nmentol SustainabWty at Merrill
Lynch, and a Warwkk judga �aut there are more people giving it a
"' ao. 1100 tbote'ti [D()re ucMceovt then:. Aod tbose TV prognimmes
bavcdclinitcly bccn o a:it:ilyst:
l)
Otber u.ni\'ersitie5 are Ul oa tbe aai: too. 'fdea ldol', tbe bra.lnchlld of
ebe enuepreneurs soclety a t Oxford lfn IYersfry, has anraceed a
nu.mbtrol high-pl'Wle ju<lgocs lil<c 'I Ileo Va.phiti& and Deborah
Mooden, business gurusand TV On.gons. The londoo School of
Sc.:c.momiçs �s II thriving b�ine.ss pl;ui oornpcè.ilioll. knOW'n ;m 'Pii.di
li'. And last ye&(S; Bu!iloeS;S; Ideai CJ�lleng,e a1 Plrmou1h Uoivetsl:y
IWKI:,
f)rir,t! kilt)' (I( fA2.000 UI) rar gm\,�.
'*�'
Wa1wid(',: OO(r1�itfo11, p•�iou.,:)y kD<JWn 11.J 'Oi:t-Com•, th1'$ )'l'i\r
:iu attrattcd i.ovesunent from Merrill J.vncb, wbicb p.it uptbe t 1,000
fir..l p1ir,, 11l'III Auienture, dw. Ct;11suk•nts, who prwid� lhe ll!iO
!«Ofld J)'l1.e. "Whut "''lJ'- intrre�ng MS thrre waull(;h <1 !arse
audièttce or mùSII)' students,. soiOl'I c,fwhom ...,.f!re quie pattis.'u\ so
11w!re ...-� 11 m.,ny pd a,inwpht!M tn ,tir.re," .c.'l'J't I-la!�. ·Tu,,._y
3,. oornpeuOons ma>:e stude11ts reallm that 1bey c:an be caken serlously
by ouulders and thai t,,•hru they tb fn lhl! shon tenn can have a l'f!al
long-term. rele,-anC8. And bavtl'.lg a oompany sucb as Menlll Lfnch
lnvolved - and prt1.e rnoney - makes te seem more real"
•o
122
Enrf'llrus bad to subml! a 2»w-ofd bu.s:lne� pian and 1he 5� om1r1es
were 'ft'bittled down to four. afterwbidl tbe. finallsts had co ,.--rite. up
a bustness proposal. The flnal chaJlenge was ro pltc:ti to rht! panel ol
judge:s, and answer theirquestions. in front or an oudie.ooe of more
(han IOOsrudents.
A)
�
s:.
eo
"°
,o
Steve Bames� a dìrro:or of &-re&istable, the online takeaway scn•ioo
that took bomt the t 1,000 prir..e •t \\'*rwick, suys the oompcdtion
11;1$ heier1 .a villtl l!xJll!rie1\0:!. •1;\'l:ò b � oonfi�nc::e boo.st al)(I IOsee
wh.ere .,,� ure:wilh the 1,-.itr;inetill il.,,,., hn·11t1R1bl!!,• he- �� • lt wo.�
che flrs1 lime .,._-e'd ptdied 10 an lnvesa-»".,,OO'"'<as g,olng 10 as a
�Hk'llls eritk:.01 eye over !be t,u.(IM111,. ond IM fudStlll rtally dldn'i
mina! tbel r words; they real ly werit for ft sometlmes.�
Wtry ore mal'fj British students c1,1rrent� enthusia$1ic abouf
setting up their o,m businesses?
2 What role do 8ritish universities play in th�s trend? Use
Warwick University as an example.
3 Wtry d o well-knONn -companies telce ove< tlwt role of investort
in these contests foren trepreneurial tolent?
4 What were the requireme-nts tor taking part in Y/atwick
l.Jrwersity's "Be Your Own 8oss Contesi� this year?
5 What were the benefits for thìs year's wir1ners:?
Ali foti?' jud�s ga'i-'8 the e-restS1:ab1e taam che nod and t(s n« hatd to
see wby. Laundted In .\tay 2007, tb8 website. all""'S customers 10
order tak:eaways cr.·er tbe tmerD!!'l. and alteady has 130 restaurants
on its books. ·111e th!W 20-�ar-old dlrectors .. oli 13Sc: mao�moot
$1.utle,,ts rrorn Warwick &Mneu Sçhoc,I - cho$e ro l'ore� 11npor1an1
bonking in1ernsbips last sw:nn,er lo bul)d the buancss.
Tbcy say OO"',· that, i.f they doublc thc numb«-o.f rcstawants signcd
up u, tbeir se.rvke. tb8)' will be able to pay tbe�l\'8$ graduale
lSal11rles a.nd ha-o-e eoough mooey n:ma!ni.ng lo n.,n 1nd grow tbc
business. Tbey put �ttbe.r a strong business pian tbat •·as a
d,oughtfuJ, ro--1he-_poln1 doeuroeliC - W'hich 11 sOl'l'lf:lhing tl1lll
i1west.(U'$ 111'1: Jooti:03 fur.• �·s Warwidi: ju<lb'l:l Ha),. The j\ldges wcre
als<> lmpressed chat: 1he oompany was tradii\& proJitably, and ,tie
Lu:,:in� 111{11.ti::I Wlll$ ·�hi.hle" - il has d,e p!.lle11tl�l tQ grvw.
0
Warwick Bnlreprtneun begao in Mmh i.st yt,1r 110d runa
worbhoµ; s-1tdus ha-· to protect your busiotu idea.$, how to
market rc;ur buslne4s, end�· 10 be an cff<:l(ti\'e '*'wOri«ir. "whlch
is key eitherwilh , grudvaii, re<.:l\liter or à1uti.ng ywt OW'O
busin� • sa,•s Kosras M3VNiUl&klS. p�sident of War....lcl.
Ent�preneurs.
Wor"" ick Uni,.·e�ity iuielris a hiYC -Of bu$IJIC$$ 11dMty, .,,ith a
1hrMng buslness schoo1, a sclenoe pa,t: for buslne-.ssstart-ups. and a
Lu$itìe$$ park nex1 dour. E.eh rt,1,li.St S&id they rea-iu:d .\Sl}fl� $(111 uf
tnsuuctllln lh starting a bwtoess as pan of tbelr cowse.. Even the
,s .;ngS:rMrlJ\g ;rù&nli d6 r. mòdul.; M si;sitihg IMlr-6.t.n
, oompsnr
nti.Indtpmdmt
123
Files
•
U111! 2, p:13s 19
Role-play: How to make good people stay
Cet lnto pairs and read your role cards. Suggest ideas and try to negoUate the best model t o
encourage good people t o stay with your company. Agree on a package that would have thie
deslred effect and itlll be economkally feasible.
Situation: A few· year, egoyou and your partner startedAIIRounders. a çomparrywhich manvtactt,re$
sports good.s tor outdoor enthusiasts.
Al presentAllRounders is in a crisis, doe to its high staff twn!M!r.
You want to be able to attract talented staff a.nd you know that such people are difficult to keep. tt is
I
çte.er that there ahould be some changei made in the çomperr-;'• HR policiei, but you an<I your pertr-er
act.·ocate different epproaches.
Read yoor ro!e card and suggest your ideas. Feel tree to suggest other benefits, as 'M:!II.
You are a graduate or a pre-stigious business s.chool. where you dìd an MBA.
You want to applywhat you leamed in your lectures on hilTlan resource management.
You want to raise salaries, protide full medicai benefits. a retirement pian and an annuaf bonus. Altflo,ugh
this kind of benefrt padage wil put a greater :strain on the company finances, you are cOfNinced that it
will attI&el and J:eep bright yoong worters in t he long n.n
• Umt4. psg.; 38/39
Charts: Describing bar and pie charts
1
De seri be the bar eh art to Student B, who will use your desc ription to complete the tempiste on page 39.
Be sure not to show it to him/her untif the chart is compie be!
I
Barchart
Bnind A is • soft cllink thst
has been on the market for
ct.c•d• Bnind 8WH
leunc:hed lo.st July. T'ha c111ph
•hows the dcwelopment of
tait• u enre 1uperM1tket.
••••
Chart l: Sa'es perionnance cl Brand A and Blçllld 8, July-Oecenber
••+--­
Jo+--25+-20
15
10
5
o
124
• BrandA
• Brand B
Role-play:
Choosing the right distribution channel
Read about SuperStrudt!I and have a look at your rok c-ard below. Student A is the owner or
SuperStrudel, student 8 t h e owner's partner and invutor, students C and O are company
employees with dtfferent agendas. Present your arguments in the ro�-play, making use of
the graph.-s and company profiles on this page.
I
Situation: SvperStrlJdel is e European balre(y whi,ch started opertting in the U.S. five years ago, lt
specializes in han�çrafted bake<J good$ - breOOs. Cikes a,d pastrie, - which ha-..e beoome e hit wi!h
health-oonscious consumers who appreciate the use ol org.anically grown ingredients.1he company is
also unique in that it is run on a business model emphasizhg employee pariìcipaliOJ\ i. e. emplO')'ees
are in\-olved in tlie deasion-mating process and receNe a share of the profits. A yeor ago the owr,er
wu pressed to ooy flf!H equipment tind quickly fol.lld en American p&rtner wflo was wiling to inve5t
in the bakery.
SuperStrodel has become so succes-sful that it has caught the auention of major supermarkets. Il has
been approached t:y aU six majo, food reta1kns in the are°' who ha•1e ex.pressed interest in distributing
its products. Thls is a unique opportuoity to ex.pand. lhe Cll'Yner is ocm golng to meet with his partner
and empl�e representitives to clecide which ret8ilerwo1.lc:I provide the be.st c:listribution channel.
-
• IIH8*1\llbltP'°oe,t�
• l'IO'I ,1 ci,oductt «pnio
c;..n CodcttM ,ood«:
• Mftlw,;er,ireto1n11u111
You are the o.vne(s partner and investor. You are becoming impanent with the owner's re!uctance to
adapt to the ,ealities of the markeL lhis is a unique oppoctunity to establtsh Supe,Sltudel as a
mainstream brand. You think that the tirne has come lo lea-1e béhind aU this adole-scent ideaJlsm and
go fot markei share and profits. After ali, fhis is the U.S.
lS:OX
10.0X
�o,
o.o,
·S.O�
-10.0,
20
18
16
libtt·•wnet:
• tocG �ci.inwilh
$mal,_,,.•
• !18.t p;,tmet _. �
bf#ldprodtCU
Cutton,et ntln,g of tho-ppi"-8 e:xperienee •
"
12
10
8
6
4�
,2 -1-- I- I- I- ,o�
-- -
--
-·
'
I
'
I
llnlf Glpfl� Pf'OdllCtl
111:::ludll!c body oi,e «'Id
....
40mtIIO-..'q$ pllOd,.,lctt
• l'"pote1blghq11allly
...
-
'
II-
-
Aver•te w•ge/hr. forule• c:lerk• tnd C:Hhiers (fitu ye.ar)
•On ;, �.:ile d20.
lnch,iòet l$ctOr$
t1,1etl es MtlQC\CIOn
wkb.:,fl�il'I,
ligl,lilg. he�nen
o4 �«.
$16.00
$14.00
$12:.00+--------------<
$10.00
$&.00-
uoo
s,.oo
$2.00
SO.CO
125
Fies
Negotiating: Getting what you need
Succe&-sful negotlatlng is not about pushlng through your ldeas but about taklng both your
and your counterpart's interests lnto account. SpMd a few moments playing a new version of
The H1tr11ard Orange game, then discuss your result.s inelass.
SituEtion: Ttere's only one orange left in your residence hall and no chance of buying another one
any.v'--.ere. 8oth you and yourfla!mate feel you need the or� and ha.-e good reasons for thinking so.
I
You need the orange as yotNe got a severe oold coming :in and freshly squeered Ofange juice is
!'falty the orly thing that wiH help. You have to sit a writte, exam the next day. Yoo feel enti.tled to
ttewhole orange as one orange isn't much arrf'A'"'f and }Q.I need to sta/ fit.
-play: Negotiate your dream car
Stucent A hai be&n thintìnp about buying à car for some lr'le. Now a fritnd of a friend hH olfered to seU
his car for $5,000. Student A has decided to talk to the bari: about a standard loan to bll)' the car.
Stucent B is d!e bank advìsor.
Study your role card. Work out your objectives and any conce&&-ions you could make.
Thell role-play the negotlatlon,
YoL are a student in your fir.nyear ot stody. Your parents a-e not pleased about you wanting to buy a car.
lhty have made it very clear that youwould ha-.-e to financ@ this luxury yourself.
lhErefore, you have reoently tabn on a .small job lo cover :he running oos.ts of the ca, but also to .sa1e a bit.
1
YoLr objeotNes:
to keep your fixed deposit account under atnost any ci<cll'Tlstances because
you woufd like to use thi:s money for tra,-ellng aroood Ue wotld after graduation
• to bargain down the interest rates fora loan as much as possibSe
Wh::tt you can offét:
• a regolar part-time job; inoome $500 a month
• a tor.ed deposd account wi1h your bank, with an irwestment period ot 3 years;
approx. $5,700 wiH become due in two years
wn,t you Mve touno out:
rise In bom:,,vlng r"ate to 10%
• rise in in.erest on savings deposit to 81l
126
Wwldyou còm1ide, -·
What doyw mean by ••?
HO!f1 doyou think we can ach½...e lhii goal?
Canyou offer any a!tematioest
Wh�t doyw suggest Ido?
Do )'OU ftclyru can acoop1 ...7
Role-play: Committee work at
university
Get into groups of sbc. Decide who will take the minutes. Read about
Winstesd Metropotitan UnNers;ty and look at your rote card below. Then, in
groups oflive, role-play the situation, while the sixth person takes the
minutes.
Agenda for the meeting
OQtt ofthe epen HotJst
• Events to be induded
•
•
Financing of ttie opet1
HOWJC
•
A08
I lhlnl: 1hhs .,..1.t1111 resull of ..
�low about ir wi! -·
urs !,:e,ep tn m.ind thit _
ltlooksas thcugh _
Can I CC1me in here. pk>aw?
n1eWitV I� tll!ng,,i -·
I 'lloo't qu;te see wha! yòt/re 9?tting at -·
Eicactty hcw is lhat going to wotk?
rm afraid I missed that. Wou!d you mind
going M':t it ap1n?
Can wc N\18 a voto cn thlS?
We're t1u'11\in8 sh()(( cl time·-
I
Situati on: The Bu.,iness Studes department of Winuead Meuopolimn �iversit)• has
a prcblem: in reoent years enrolfments have been faling. lhe dean thW'lks one reason
tor thi" moy b: ihait prwp«.wc "Mk:nt.t ore ;.ffl'lply not wt:11 cnQ\16h informcd obovt
the unl\-ersity department. lhere are severa! university-le\lel insbtutions - mcluding a
technical ur'lr\lersi�. :a school of nursing. an art acadtmy aOO a school of music - in
the region, some of ..,.hich have been m0<e successful in marketing their programs. In
v.ew of thi� the dep:!rtmenr has decided to schedule an Open House fot secondaty
scl\ool students whc, are l1kely to continue to universiti/ alter thex school-leaving
ex.ams. lhe .student union h.as volunteered to organize the e\1mt. A committee is now
meeting to discuss d!ttails.
You feel tllat in rece,t years business has ooquired too tnt1ch influenoe in higher
education and strongly believe the two should be clearty separated. You think t.he
department should malni.ain tie$ to NGOs. You would like to propose lhot the Open
Houw event include a balcé salt. with tht proc::eeds golng to an NGO. You even think
il would be a good idea if an NGO attended lo present its actr.-ities.
Follow-up:
Wrlte an emall to !ti• Oean of the Business Studles department at Wlnstead
Metropolitan briefl;y summarizing the outcome of the meeting. Tell him/her
thai you are attaching the minutea
127
Fies
Describing trends: Economie growth
3 Oescribe Ru.uia's economie growth to student A. Then listen
to student A telling you about Brazffs economie development.
Use the template on page 109 to draw the graph.
t
• Umt f!, psge (09
Oc.cribnQ tronda
O.OPa,owlh JUnled ot V""Ous) ,,. % n ...
llw:� w11, no gn,'Wlh in,�
Theit wasnepiwt gr()t',;h or ... lin ...
f--lK eOP ioeren!d tharply / rockeied 10 ... l in ...
CDPfell drematieally I plt.mneted from ... i10,_t.
G1owth r1uctu11led ,roond ,_ 4'.
n,. s•<iw1h "*'l• ,.",81..ltd �.b&t •1 ... �.
GDPa, et11 bJ'..• t: in .. .
GOP ,rowlh of Russia
,s�
. -------------------------�
s-1-------/c____:�...::::==:::::::�----l
10, +----------��-----------1
-S
'-
--1
-10•+--lr-7°'-d - - - - - - - - - - - - - - ·lS,-l----"'---------------------1
��������������.i������
�
� � �������������,V� ,V� ���·v
Source: World dataBanl:
- Unit H, p;,/l• 107
Role-play: lnvestor's choice
You are going to represent Brazil at a track- fair. A British investor who ls
planning to set up a business in one of the BRIC countries is going to hold a
Q&A sesslon. Try b3 convince the lnvestor of Brazll's advantages for foreign
dlreçt fnveatm-e,it ,ro1).
There ate a nuober of ret90f'ls why
if"NeSÒAg in ,_
The fnt tsecoOO) re.ason is _
Wh9t's� _,/In additoo to _.
The.-e aie !'t!'Ye.-al $!Mnta�i in
l!"Nesting in ·One (oMOus) ait.-ant� is ••
Whi'.e this might seem to be a
diudlantage,, in fact -·
In generai, _
128
Representative of Braz.il
lhe Btitish investor is thinking about setting up a chain of coffee houses in your
country. He or she wdl question you about the following points:
population: ca. 200 milliòn inhabitants, tl'/eragè agé: 28,
urbarriization: 86 Il of total popu-lation
• economv: GOfl per capita $10,200, unempk,yment ra!e 7.9!t;, inflation rate S.7t.
legal sys.tem
lf you M\-e any ques.lions. doubl..ehtck with your countty pt0file on pege 106.
Your country has always had a stroog eoffee culture. so thero are already a lot of
locai coffee shops aod McCafé and StMbt:cks ha/e also been there for a wMe.
lry to present this pcrticulart,, compebtriie enironment in tts most posrtive lighl
�
Role play: Choosing the rig ht distribution e hannel
Read about Supt!(Strud� and have a look at your role card b elow. Student A is the owner of
SuperStrut»J, student B the owner's partner and irw�stor, students C and O are company
employees with different agendas. Present your arguiments in the rol�play, making use of
the graphs and company profiles on this page.
I
Situatlon: Sl,JfWStnxlelis • Europeen bak.ery wfich starte-d open1ting in the U,S. five yeafs ago. lt
specic1riies in hand-crafted baked goods - bteads, Cc>l:es am pa:stries - whiçh hlJ'le become J hit with
healt�oonscious consumers who appreciate the use ot organically grown ingredients. I he corr-.>any is
also unique in that il ts run on a business model emphasizing employee participation, i. e. employees
are involved in l™ decision-making process and receNe a :share o( lhe profils. A year ago the owner
was pressed to buy new eQt.1ipmem ancl qui-c:ktj found an A merican pannerwho was wil!ing to il1\'es1
in the bakery.
SuperStrudeJ has beoome so suocessful that it has caught the attention of major supermarkets. lt has
been approached bJ ari six ma,ar food retailers in the ate� who ha\'e expressed interest in distributing
lts products. This is a unique opporlunity to ex.pand. The ov;ner is now going lo meet with his partner
and empl(1Jee repre sentetrves to <1ecicle which reteile, wo1,,1l<f SlfQ'Vicje the beM distribution çha,nneL
You are a SuperS;rocte/employee. You have beenwith che company E:-ter �ince irwat1 founded aOO tlave
alwa-1s admired the owoer for stick.r,g to t.s/her prin�les. You don't lìk.e Be.st Batg4iri, becau.se as far as
you're concerned it exploits its staff. You also tnow that i t l?(Sts lts supptiers ullder pressure to deliver their
goods at the lowes.t piices. Any o(her distrihutor would be preferahl!'!.
M•rket shar• of grocery tetallers
....tl't lkr4tM:
-fOOd�1tl1YcfltinMd'I
-'"°"''
• edls goU!fflC'l MÒ IIOUb'and cw<d..Cts
.111re,1�i:,loe,
• Ml all productt (IJ...-C
Oreen GoddeH FOOd,:
• eellf l#pnin,t otAltr.l!t!
Mld�:WlltffOOllmt
ÌIICtJdlll8�<'1H"'4
....,IIOUMl!old�ucH
Hl"PQMt111gJ-iqu,lly"
CM:Jli(ls
S•le• growth In t.he IHt thruoy.ars
15.0$�-------------�
SK1S;,rpn21.ox
10.0l+---- ------,...--t
�Ol+-----­
o.ot+---�
-�Ol-t--- - - - - - ----il--- -----l
·10.0l+------------------<
i
io
Cuttomer .-.d,-g of thoppll'lg •xperltne. •
18
16
14
12
10
••
•'
o
1
• Onue•1t<1120.
lf'IC...Ò).
such a Rlisf.lo:tm
wilh �b:ff l:JtOUl,
lil;hli'l&, t.wfuhU$
,,ct(ltl
-i 5
.I�
:l
:
Ol 81$11,
S16..00
S14.00
S12.00-t-------------l l----l
S10.00
S8.00
suo
s�oo
S2.00
S0.00
129
Fles
Role-play: Committee work at
university
Cet into groupt of tix. Decide who will talee the mlnutes. Read about
w;nstead Metropo/itan un;versity and look at your role card below. -hen, in
groups offive, ro�-play the situation, while the sixth person takes the
minutes.
11gendo for lt!e meeting
• oote of the open House
• f\(nts to t,e induded
• Firiancingoftht Open
House
• A08
E::
PM.K:ipnllng io I .et.
i li. ,g:c
I lhlnlc thit:was atttu'r <lf _
liow about if we •.
Le!'s k!ep in min1 that ...
lt look.s asthougt ...
Can I come in hn, plea&e?
T� wllf I see thilp _.
I don't quite see Y.'h&I )'OU're 9?1hng at ..
Exactl�· h� is 1hn going: to worle?
l'm aftald I nisaej that. Wooldy<1u rnind
gorng owr it aph?
Can we h� avee on rhis?
We're tW'IJlil'lg stum of rime ..
130
I
Situation: The Bt1sl'lP...$S Studies department of Winstead Mettopolitan lJni1ersit)' has
a problem: in recen: years enroltments have been fa11ing. lhe dean thinks cne reason
for this may be that prospecdve students are sunply not weU enough informed aboot
the un;.-ersity department. lhere are several unP1ers1ty-le.,el institutìons - includmg a
technieat unNersity, a sehool of nursing. an art audemy and a school of m-.i:slc - in
the reg;-on, some ofwhich hRVe been more succes..�ul in marketing their pr,>gri,m$.. In
'liew of this, the d!!'partment has decided to schedule an Open Hous� tor secondary
:v..hool Mudent.) who ore likely to continue to univeraJty efter thetr ,3c;hoo�leovin,5
exams. Thl> student union has volunteered to organ!U' the evenl. A commit:ee is now
meeting lo discus.s details.
You have been an a::tNe member of the stude!nt union for twoyears. Yoo dink that
che Open House should offer a series of sample tectures tnal prospecti\'e s:udents
can attend. in order to �I an idea of what stuctf-rig al the uni\-ertlty ls like.You think
that thé studenu oould profit from ooo�ration with local businesse-s. You ·.vould liké
to propose inviting local busineS,S leaders.
Follow-uP'
Write an email to the O.an of the Business Studles department at Wìnsteod
Metropolitan briefly summarizing the outcome of the meeting. Tell him/her
thai you are attaching the mlnutes.
Reading: The BRIC countries
4 Note the factors that have contributed to Rus.sia's growth and th.ink of five
questlons you have conc.rning the other countries. Tell your group what you have
read and answer eaeh other's questions. Then complete the mind map on page 105
with further points from the texts.
Country profile: Russia
After the breakup of the Soviet Union
in 1991, Russia had to struggle wlth
a ru�down manufacturing base, a
weak banking sy&tem and a poor
busiMss climate. In recent times,
however, the country's GOP has
gra.vn signfficantly, especially
through the supply of natural
resource.s, and buslne.&s
opportunities have increased. Some
chaflenges remain, mostly as a
legacy of the Soviet era, in particular1
diff"tculties In deallng wlth
go11emment bureaucracy and the
complex Segai system.
Under President Putin a number ot
economie reforms Weie lnlroduoed, but
he also made sure that the gOJernmeot
maintoined control CNer tlle econo�.
As a consequenoe. state intervendon ha.s
become more freq oont sinoe 2005,with
the aim of reassetting c:ontrol in key
industnes.
R\J.ss.ia accounts for almost 1 li of world
oil production and one quarter of natural
gas. lt i$ also J leadng producer of o::>aL
imn ore, gold and diamonds. lhe oil and
gas extraction indwstries taci: efficiency
and are a source ol .signrficant poUution.
lndustry 1$ dominated bJ large indusltial
enterprise$.. Sman and mecium-siied
enterpri�s (SMF.s} account for only
t0-15tol Russian GOP, comparedwrth
typically SO tor more in developed
market economlts or other emerging
eoonom� like India ancl China.
Otie to the strong, l"ouble, record,,,,h;,gh
international oli prices ancl a hi:e in
private consumption, Russia's real GDP
grew by an annuail avetage or 5.6S\a year
R1Jssia's most impor1ant tn,ding panne,,
aocounting fa, 50� of atl trade.
Russia MS been suffering from relatively
hi&'I inftation rates, rang11'\g from m0te
than 90$ in 1999 to a record low of
$1ightly (.A'f:r 7f. at the end (lf 2007.
Cespite the d:ttfioult business
envtronment, foreign direct investment
(FDI) has picked up m theyears to fol&ow,
totaling around $47 billion in 2007.
Sucoe$$Nf! gCNernments have tried to
hold go.-emment spending down, henoe
neglecting recessary investment in
infra.structure and in the educallonal
$)'Slem.
Russia is also tacing a demographic
crisis: the number of Russians has fallen
bf 4 million. This is wo,se� l:rj low .re
e.x.pectancy among men.
7.7"1.---"'1111•.-"!"n:;:
..r..-r..;;1K11:v,a:�,.�r""'--�---....,-;;,[;� "Jj:;;.;.;-:a:J,E7!'_____...,
;.
•
Un1t tt, fMl't! 107
Role-play: lnvestor's choice
You are going t o reprHent Russ-ia al a tr ade fair. A British lnvestor who ls
planning to set up e business in one of the BRIC countries is going to hold a
O&A sessfon. Try to convince the investor o f Rus.sia's advantages for foreign
direct investment (FOf).
T�,e ate a numbet of fE'&S()OSwhy
i'lwstilg in-·
lM first tseoond) reason i$·­
\Yhafs more ... / lr.ad<ibon to ...
lt'ierc Jro scvcral advt1ntt1�& in
iwem'lgin ...
One «obvioJs) advantage is -·
Wlii!e this Might seem tobe a
disait.-an�. in facc ...
In generai, ...
So, in a nutftlL ..
Repre.&enta tivo of Runla
The Sritish investor i$ thinking about setting up a chain o# coffee houses in yoor
country. He or she will question you about the following points:
popu1ation: ca. 140 million inhabitanta, a\òerage age: 38,
u,banlz:ation: 73" of total population
ecMOM')': GDP pet capita $16,100, unemployment rate 6.4%. inOatiM tate 14.l I
le-gal system
lf you have any questions, dOWIM:heck with the country profde above.
Allhough yoor country's traditiooat drink ls tea. people have now taken to Weslem­
Sf'jl& <:offé-e houses. lhefe am a!rebdy two strong k>oal chains and of oourse Suxbucks
and McCafe, but they are concentrated mainly in Moscow and St. Pete.rsburg. 1ry to
present lhis parbcula.rly competitive environment in its most positive Gght.
131
Files
Diversity
Small talk,
big effect
Some people dismiss smaU talk
as be ng a waste o( time. çar
l
ftom il. $mal talk. a s Wef'/
dipbmat kncws. has a erucial
function in b-eaking the ioe.
establishing rapport and blild1ng
long-term rebtionships. lhe
topics m�i s-M!m trivial but their
erfeet is not.
A favorite topic in Europe and the
U.S. is, of course, the weather. In
a business stuation it is oommon
to exchange persona!
information. :ommenl$ on tht
trip just comp,leted and remarks
about the food being shared. 8y
engaging in !mail talk, you show
an interest ìr your business
pan.ne, and demonstraté respect
fof tlleir culw.re. lhis serws to
rnake you feti comfortabie with
each other a,d set the stage for
fU'lure bu$nes.s relationshlps.
132
• Yml s. p<1ga SO
Role-play: Small talk or deep talk?
An American compa11y has organized a reception to welcome a busineH
partner from another country. One of you ls the vi&ltor, the other an
employee of the company receiving the visitor.
Vour profiie:
You are an Amerlcan wtlo works lor tfle U.S. subskliary ola wei,._
known. statt--ol.the-art higl'Hech company. You have a key rol.!- in the
depattment ,esponsiblè for &nvironmental polie)',
The situation: One of the company's best business managers with a bad:grcund in
enviroamelital engineering has been sent to the States to be part of
a new Droject team. Your department has organized a welcome party
reéept,on for todày a.od you are about to meet hlm/her. A busyweek
has finelly come to an eOO and you are looting forward ro thisp.vty.
Your task:
As ooe of the hosts. you want to make your col1eague (eel
comfortable and welcome. You will start up the conversation with
some aioe, friendly comments. Of eourse you'II exchange natres and
�I thow l'lterest b)' asking whet'é s/he i s from and othél' gene,al
quesd<tns about his/her bad:g,ound. You don'I want to engate in
talkingshop just yet because yoo feel more comfortab!e getting to
know iomeore a !ittle bit first, and anyway, your first business
mootio,g is planned for Mooday momlng. 9 a.m. You want to bep thé
C04'\'.'él'$&lion light to make )'OUr oolleague feel relax.ed.
What conclusion, can you draw from thls role·play about cultura! dlfferencesf
.. Un!l 3. P.18<! 28
Listening: LEARNing to listen
3 Read the following email and rote-play a telephone conversatlon according to the
lnstru.ctions on yo,ur role card. Make sure )'OU follow the LEARN concept.
rro111:
òfdefS@SlféélwiSè.com
I o:
Frank.Melef
Subject: Credil card verificaLion
Dea.- Fnmk,
We ilre very h.;ppy to teU YQU thttt the vertflcatlon of YQI.Jr Vis.a card went through wtthovt any problem.
Please use our telephone ordering servke at 0800 959 8794 from 8 a.m. to 8 p .m . Monday through
frlday EST to piace vour ordcr.
Sinccrcly,
SlreelWise.com
I
Pleasc do not respond to thls cmall.
You are Frank Meier. You call bad: the next dai,' to plaoeyourorder.
You want to order the following products, but you have forgotten to note down the price.s.
I $lii belle,,,g Jn Santa Clt11JS, number 118669361
Co.'legeHe.ro. number 1280..17307
Mr Messy, number 113577610
Your delivery address in the U.S. has changed. lt is now: 8irg1t Schmidtbauer, 305 Einstein Avenue, 55199
Minneapo!is, MWVlesota. Thi$ is a friend who is going to bring the J.shirt s to Germaoy. Sh& is returni.ng to
G4-1marr,, next wook, so you wouJd liké to have the goods sent to hèr as quicidy as possibfe.
Presentations: Describing a prroduct
-
Umr 6, fMEC S9
Oescribe the e--reader to your partner. Then compare the two product s
in terms of readability, data input feature, stora.g e capacity, 6ize, weight
and price. Then discus.s whether you would use an EKeaoder for reading
and if &� which of the two you would prefer,
I
E-·reader: Sony PRS-T2
Manuracturo,:
Sereen:
Input:
Memory.
C<>nnoctlVity.
13.ettery:
Pl,ysic,1 SIH:
W-et.ght:
Ptlc•:
So�
6' (15.2 cm) diagonal
600 X 800 pi(.ets
Eectronic paper display
TouClls<:roen, grapt1ica1 user intéfl'aOll, l'f!IW.t/prev/
bacie bulkln
2 GB
Wifl,
USB port,
built-in stereo speabrs.
3.5 mm smreo heaclphene mini-jack
llthlum-lon bflt�ry
110 x 173 x 9.1 mm l\V)I.Hx.0)
16,g
$130
133
Fies
• Untt 4. p:,J:1! 38/39
Charts: Describing bar and pie charts
1 Oescribe the pie chart to student A, who will use your descrlption to complete the tempiale on page 38.
8f! sure not to show lt to him/her until the chart is compleff!-!
I
•
•
•
•
•
Ages
Pie chart
Sodologfsts In the U.S.
,..ntly f>"bli•htd •
.iuct, on fflopllftlns, The
chsrt b.low break1 down
ahopliftlng accordlft.8 to
age g.roup.
o
0-12
13-17
18-29
30-44
.C.5-64
6S•
_, U11it 11, �Kt1 109
Oescribing trends: Economie growth
GDP�or,th 111aned at (mlnu!I) .. 'l in-·
Thete-wu no gro-ttlh S'I ·-
3 Oescribe Brazil's economie growth to stu!Mnt B. Then liiten to
student B telllng you about Russia's economie development.
Un the tempiale on page 109 to draw the graph,
•
o
'
l�re wu nega1;..e g:rcw.th of ·-t; in -·
GDP inc�ased dlarply / rock.eted to -· I in
GOP fell drnmatir,111>,, / r,lum1l'lltlt1d f10111 -· i to ·-�.
GrtN.th rlu<:lulìled fllòund ·-1:.
Tue gr<M1h raie te-mh'led suibi! at _i.
GOP J!fe'li tt1 _t; in·-
'
/
/.
.
'.
/' .
/
'
.
"
.
-1o
s
o;
���������������������
���,
���
...
,ti. �� f-tY"\�� <V'<\!"' ,w''\,C'�f-t&
Sourct: wo,ld oataBank
134
Role-play: Choosing the right distribution channel
R�ad about SuperStrud� and have a look at you, role card belo,,,v. Student A ls the- owner of
Sv,perStrude/1 student B the owner's partner and investor, students C and O are company
employees with dlfferent agendas. Present your arguments in the rol�ptay, making use of
the graphs and company profile s on thi& page.
Situation: S(Jf)(JfSr.tl/del is e European bakery which started operating in the U.S. five years ego. lt
specializes in hanck:ratted baked goods - breads, çakes and pastries -which h{,.,e become e hit with
he.ah:h-conscious consumers who appreciate the use ot organically grown ingredients. lhe company is
also unique in that tt ts run on a business model emphasizingemployee participation, i. e. employees
are irwolved in the decision-makif1$ process and receUe a share o( lhe prolìts. Ayear ago the owner
-·-
U.tt'� Mattl!
Wt\S pressed tobtr1 rtet'I eq..iipment and quict".( found an Americ,n partnerwho was wilfing to invest
indlebal:ery.
SuperStrudel has become so successful that it has caug.ht the attention ot major supermartets. fl has
be-.m approached by aJI six. major food retai1ers in the are, who hcwe expressed interest in distriboting
its products. This is a unique opportooity to e.Kpand. The owner is oow gclng to meet with his p;utnE!f
. foodsped•lt)-ç'*'"""'
• sdlt p,1111<!1 ifld ltou..
bt..clO(Odut:15
• tt fCilHCfl,ble �$
• net .. ,p!Odvcts
anC, em�e repcesenaitNes to dee:ide � reteiler would provide the best distribution ç:hannel.
I
Godei••
_,,,i.,.,,�
Gnett
-�·
You a.re a SuperStrudel emplO)-e@. You ha-.-e worked with Sv,perStrodel for the las.t year. On the whole, you
think the atmosphe,e is good, but the pay could bebetter. 'You recentt,• got marrled and your new
brother-in--taw m�nagi» the loca! BigMart. He has offered to buy you a new car if you c an use your
inftt1enoe to help put S:JperStnKIP.I products on his shel-.es.
-
°'"'*
fOOQ:
or n•11nJ
a..:J °'?ll'ii PflldUAi
•rcli..,bo.::'j �und
90fflt !loU�llOldpocl\fC:tt
• lmp0eee ,.,.Il q11Slfy
th,..•
S•lugrowth In tht lut
)'U"*
1s..01�-------------�
10.01+-- - - - - - - -��--i
�0%
0.01-1---�
-S.0l+---------1 1----- -l
�10.()1+-----------------<
.ol
!:,!
,.
10
18
14
17
IO
8 •>-
'2
---_
,.,
-
Cuscomer rotlng of thopplna: UP-"rienc•"
6.
--
+ - -
o >-
k-
.
--
-.
.
>>>>>-
-
1
i
I
:
�1
!�
j
.. JI
!JJ
Av•ra1• w1ip/hr. for aalas dark, a.nd cashl•r• (first year>
>>-
:i
• 0n a SClllc of 20.
lrcludeG f;,cnor�
tu<fl 9!9'11i5Qe(i0n
�Il *!9 t,;oul,
1�;,.8, t-.�lr.ra
clsulf.
$16,00
:;:;===:::i
$14.00-============
-.
$12.00 ....
$10.00
-----------1
$8.00-t-
$6.00
$4,00
$2.00
$0.00
135
Files
•
I.Imi 9, p:JSB 90
"·-: ..
I, ...."!
r
e ­
\
}�
Aole-play: Committee work at
university
Get into groups of sh(. Decide who wUI take the minutes. The other five
students will read their rote card. Then, in groups of five, role·play the
situation, while the si.xth person takes the minutes..
Agenda for the meeting
• oate oftheOpen tt>t.ese
•
EWnts to be included
•
Flnondng of the Operi
House
•
A08
Situation: The Business Studtes department of Winstead Metropolitan University has
l) Partiop.aLng in �lings
I think 1hi$ was & ttSult of ...
How aboo! if we _
Wh&t do youthink about , _?
let's bep in trind that ._
lt1ooksastholJ&hCan I come in here. plea�7
The way I aee things ·I don't qui:e !HN!-whai: ycl/re v,ting at -·
Exaccly how ls thai sorl.8 towork?
I'm afraid I miased lhat 'Nould you mWld
goit1g iwet if agiiin?
We're rl.W'lning shol"I oflime _
I
a problem: in recent years enrollments h.:rve been falling. The dean thinks one reason
for lhi3 may be that pro.specti� students are .si:mply not well enough Sdonned ebout
the university department There are �ml universiry-11'!'.'el insritutions - includ[ng a
technic-aJ unNersity, a S<:t.ool of nursing. an art acadenv and a school of music - tn
the region, some of which have been more sucoessful In marketing tMir programs. In
view of this, the department has decided to schedi.rie an Open House for seconda,y
school students who are lii:ely lò continue to un\ve,�ty after their schOC.l&aving
exams. The srudent unioo has volunteered ro organize rhP. event. A comminee is OON
meeting to discuss details.
You a,e new to the s.tud&nl union. You th1r'llc th.at the Open House s.houk1 show
students how exciting tht socia! life is at Winstead Mètr'Opol:itan, You want the
depanment to put on a big partywith a popularband. You happen to have a friend
who has a band and would fike to ha'IE! ttie department engage hìm.
Follow-up.
Write an email to the Oean of the Business Studies department at Wins'tead
Metropolitan brieffy Slummarizing the outcome of the meeting. Tell him/her
that you are attaching the min utes,
Reading: The BRIC countries
4 Note the factors that have contributed to China·s growth and think of five
questions you have co11cerntng the other countrles, Tell your group what you have
read and answer each other's questlons. Then complete the mind map on page 105
with further points from the texts.
'- Umt Il. psge 106
Country profile!
Chin�
China, the third richest country in
COP growth term� is a large
storehouse of natural and human
resources and like lndis has an
abundance of che.ap labor.
As agncultu-re i.s inteosNe, desenification
is a problem astdwater resourcesneed to
be m1;1naged carefully. Oe.spite h1Wing ihe
wof'ld's largeit coal resovroes. the country­
depends in::teasingly on oil imports.
Chma·s economJ grew by an a-.-erage of
10l a )'e.Jf between 1981 and 2007, wtlh
1he menuf&cturing wctor H the mein
contributot. However, pr;.,ate
consumption has been law, posslbly due
lo the lack. of a state Vtetfare sarety neL
Sinoe Ctil'\ll became a member of the
Worlcl TrarJe Organ:1.atim (VITO) in 2'001.
export growth hauoared, averaging 29�
a year b«\veen 20!>2 and 2007. lhis
grcwth was mainly fuelted by foreign
lnvested enterpri.ses (FIEs), whicfl have
long dominared tM oountry's intemational
trade. lhe U.S. ìs China's largest singl.�
country export ma"ket followe-d bj Hong
Koog. Japan ilnd South Korea.
Feonomic reforms h1we resulted in.a
massive con.racliGn of the state-aNred
sector. lately � exchang.e rate of the
renmmbl has beer partially hberahzed,
although the cu1rency ,emains
undervat1�.
Foreign in\'estmert inflows rocketed ro
$138 b11lion in 2007, emphasizing
China's position-, the- lairge$t emergmg­
market recipient <1f foreign direct
imesunent IFDI}.
Consumer pnce inftation has rema1oed
relative>,, low q,er the last few ye.M$.
OemQgraphically, Chini! is in its golderi
.)-mrs, meaning that there is a large
suppfl/ofworkers aged 15to65.
8asi<>le\1el educat1on, in particular ill
rural areas. 1s a problem. Enroll'nent in
,ll'Wersities hl'ls-_gone up, ahhough o�
tashioned teaching methods aro a matter
of concern.
Owing lo massM? gc,,.-emment spending.
China'.s lnfrastructural impro-,ements are
impressive
}.. foN!l.gn lm't!Sltd enct.rprlse lflE) h, t fMm (lf
establlibmenl whkb énallleSa comp:i.ny to p,,Ttlelpate
10 1 r11te1p «;>flomy, The maJn r,
..nl.i are jOint
,11:n.ure$ 11nd wboU)'flìretgn owtted en1..r11rises..
i liMZl@,NJ,I
Role-play: lnvestor's choice
You are golng lo represent China at a trade falr. A British lnve.stor who is
pfanning to set up a business in one of the BRJC countries is going to hold
a O&A s.es.sio•. Try lo convince the investor of China·s advantages for
foreign dire et investment (FDI).
1i1e 11 1,umbt-1 d rebo1ts why
irweYingifi -·
The first (second) rew.in ie ..
'Mlat's more .. . / ti addition to ...
lhere are aeveral a6,antagea in
Jrn18$Vng 1n M.
One (obviC)Js) advantage is -·
'Mlile ths might seem 10 be a
dis.ldva.nta*', ill fact .M
lo generai, ...
So. ill a nutshc!l _
iliei,:
Repre.s.entativ. of China
The Sritish irr.'eS'tor is thinkin.g about setting up a chain of coffee houses in your
country. He or sie will queslionyou about the follo.ving points:
poputation: ca. 1.338 bithon inhabitants, awrage age: 34.1,
urbanlzatlon: 43t of tota! populadon
e,cooomy. GOP per capita $6,000. unempl(7/m8nt tate 41. inftatioo ra1t 5.9%
legal system
ff you have al'I)' questions. dooble-check with your coontl)' profìle above.
Your country i$ �liii a land of tea drinke,s but wfth the entry of S(cfl'bucks. �inking
<:orfoo l\8S be<:otne a status symbol. Try I<> ptesem lhis p3fticularly curnp<ititi\.e
environment in its most positNe light.
137
Fles
Role-play: Committee work at
university
Get into groups o f siK. Decide who will take the minutes. The other five
students will read their ro� csrds. Then, in groups of five, role-play the
situation, while the s:i.xth person takes the min utes.
Agenaa for the meeting
• oat.e of the Open HOuse
• rvent:s to be inch,ded
• financing o( the open
•
House
A08
E,) Perticipating in IiIIMtil,ga
I thii* this was a 1es1.Jlt of •.
Ho.v eboot if we _
Let's keep in mind d'tat ..•
lt look, &s thougll -·
C&n I come ·n hefe, plea�?
The v,;,; I iiee th.ngs _
I don't quil. !IE'e what yo!/re g�ting at ••
Exacdyhow is th,.,;: goi'lg to wort?
l'ma�aid I misood .hat 'Nooldyoo mild
gdf'l& weril again?
We're nmriog shon of time ...
Sorry. bv. rm net able ,o go aloog
with that
138
Situation: The Busine,s Studes departmem of 'N'ristead Metropolitan Uniwrsity has
a probfem: in recent ytars enrollmenls haw been falling. The dean thinks one reason
for this mey bé thai pnspective students are simpty not well enough infmrned abou1
the uni'lersity depattment. There are several university-le\'el in$1itution$ - inoluding a
technical uni.'er,ity, a )(:hool ol nursing. an art academy and a school of music - in
the regioi\ some of which haw been more suocessful in marketing their programs. In
view of this. the depar:ment has decide<! to schedule an Open House for secondàry
school students who � likely to continue to university after their scho�leaving
exam$. The student uri.:,n has •t0lunteered to organize the event. A committee is nr:,H
I
meeting to discuss de1ails.
Profeuor Jones
You are th& faCUCty a<Nsor to lht student uniM You want to make sure that the Open
House is a sucoess. asit is important for lhe department to enroll as many students
ss poaslble in .:he next term. You hr.Ne oonnections to Hatlord, a loca! bank. thai is
eager to sponsor the M?nl This would mean that you would be at>le to p,ovide glossy
b,ochute.s aw.:J ,efre��1ll$ from a p,ofeS$lo,,.al cate,lng &e!'Yl-ce. l,ì ''°tu11l fo,
sponsonhip the bari: would éXptCt the department <o namt a lectul'é hall in its honot.
Follow--up:
Write an email to the O.on of the Busineu Studie& department at Win s"teod
Metropolitan briefty summarizing the outcome of the meeting. Tell him/her
thatyou are attaching the minutes.
Reading: The BRIC countries
4 Note the factors that have contributed to India"& growth and think of five questions you
have concerning the other countrles. Tel1 your group what you have read and answer
each other's questions. Then complete the mlnd map on page 105 with further points
from the texts..
Country profilé: India
India is one of the fastest·growing
economies in the w«ld. Although lt
has a long•-e&tabllshed democracy,
bureaucratlc govemments,
inefficient end ineffective legal
control systems1 and corruption in
high places have limited economie
growth for decades. In addition. lhe
huge and still growing: population
has created socia� economie and
environmental problems.
India does oot haw a lot of natural
resources. $0 most of the oil end &*'
used is imported.
Sbcty percent of the population is
emplO)ed in agricolture, but this sector
acoounts for less than on&--fifth of GOP.
On the oth er hand, the coun1ry has e
cutti�dge, globally competitM!
kno.vledge-driven �ervices sector, which
ls the main reason tor lnd1a's eoonom.c
growth.
lhe most imponarw: trading p,artners ar�
the U.S. and China
Since India openec 14> to trade and
forei.gn investment, real GDP growth has
ex.eeeded 8� ever) )'Hr su,ce 200-4. But
the $trong nabQnal performan,çe mas.Jcs
che fact that the soothem and wes.tern
state5> where the software industry and
the industriai activiies are concentrated,
enjoy much stton�r g,owth ràles than
the rest çf tM country.
India has been struggting to reduce its
budget dehcit, but powerfu1 interest
groups bfock refoms such as cutting
go,.,e.nroont emplorrnent and closing
loss-mating publie sector enterprises.
Consu�r price inftation remains a
problem: although it fel to rou,ghly 4i n
the early 2000s, it has accelera!ed again.
forei&,l d�ect investment (FOI) nRows
used to be exuemely low but j.impe,d to
$24.5 billion IO 2007/08.
tndia's. spend:ng on lnfrastructure.. which
ts currently at 5t of GOP, t.raits fat
behind thet of China {&round 10� of
GDP).� country also stiU lag$ behind in
educational standards: it has 171 of tfle
world's population, but some 40� of the
wocld's illrtl>!ates. On the other hand. lt
has a targe pool of highly ed1>eeted and
vocationi,ty quaMied yoong people, even
il they only make up e smaU fraction of
the whole popuJation.
- Un,: "· p;,g� 107
P ,l1c, olay: lnvestor's choice
You are golng to represent India a t a trade fair. A British investor who j5
plannlng t o aet up• business in one of the BRIC countries is going to hold a
Q&A •ssion. Try to convince the investor of lndia's advantages for foreign
direct investment tFDI).
lhefe ate a numbff of fE'M()OS why
i'IYHÙ'lg in-·
1he first tseoond) reason i$·�
What's more ... I lnad<inon to ...
lt'ierc .ve scvcral i!dvilntil&°CS in
l'lYl!m'lg in ...
One CobvioJs) advantage is -·
Wlii!e tM Might seem to be a
disadvan�. in fil� ...
In generai, ...
So, in a n11tftl1 ·-
Representallve of hdla
lhe British investor is thinking about setting up a chain of eoffH houses in 'JO'J'
count,y. He or she wil quettion you about the following points:
populabon: ca. 1.166 billion ìnhabitants. .r.-erage •: 25.3,
ufbanlzatiòn: 29\ of total populati<Jn
econolllf: GOP per capita $2,900, unemployment ,ote 6.8� S'lftation rate 8.3t
legai system
lf >'OU ha\-e artt questons, doublH:heck with your count,y p,ofile abo,e.
lhère i$ a wide range of coffee houses already in eJÙ$teno& SéNìng tM youog urban
middle elass. Tiy to present this par'tlco1arty competlt� en11fronment in h$ mos.t
positive light.
139
Files
Role-play. Complaining and apologizing
Aole-play a telephone conYersation between a frustrated customer of a heath
club and a Customer Servi ce agent The agent ahould try to observe the
LEARN conoept and both partle& &hould come to an agreement i n the end.
Customer Service agent
You ate the Customef Service manager for Hercules Gym & Hea/lh Club.
The gym's employees are ins:ructed to explain cond1tions when the contract is signed.
The conditlons are clearly stated in tht <:ontract. In tht case of membe,shlp for one
year. conditìoM for canot11at,c,n are: rMmber must give 30 d&ys notic» by regjstered
mail; membership can be car.ceUed for health rea.sons (doctor's certificate is necessary)
or if member has moved to a piace atte.asi 15 miles from gym's location. Yoo realize that
sometimes prospe,c1Ne mem':lers don't read the contract ca.refully.
14-0
Audioscripts
CD1
Track 1: Copyright statement
Unìt 1
Listening: Finding an internship
� \) Paa• 7, Exerdn 4
• Moder;,tor
• M;tri,n
• OK. OK. thanl:: )'(lii, 11 C-Ouldhavoyoua11omioo p&wo. As you all l:nc'.M'
w,.-r,. ht:wN lnday t<1 tha.1n 1hA iilUQ ol il'IIAmSh p, Mo\· 10 fi!V.'t lhAm, haw
to gJ!t lhem. '"'hat p,cfab to &,,oìj and l'm yery happy tt.lt wo /\&'l'è a
ncml:or <11 pool',ll:I h111111od.l/ Who 61'0 WJ!ing to sh11t1 1h0ir �neowiltl
us and'A'hOcian g;.. us scmo rrst-r1an0 a(Moo. Mare. do )'OIJ IJ'i:nl: ycu
00'-'d start -·
• Yos S>Jro. lii, Yil$. l'tn Mare ao:i rdlik4 «> »H)'Ouaboilt hCJtt I roundmy
rlll#f111d1ii;,
I was �tting al m, desl: oro 1-r.d&, nighl &a<.t \durdurirc tinsi cxamis. I
was !'IJ!l ol s:u�il'lg fH'd llllt a sudd)n ...,� to 1001: lot an rnou'tll-.ip kll n:IM
a ..
mmer. l'm ,r.eponogln acco.t1tiog and-SO I regan rescarchlrig on a runoor
of wobsilrtt in thal l'l:tld ,,,l!hOt.t l'indìng a�•lhi'lg thai dltally g,abbod ma.
I •NIIS M>Cvt IO li!t uptny S/Wth't,flQI\ I IOuM 11\A l)arfQCf il'\.1Qm�. lt
e-.en pald a small salaty and !l'ICIJded hOus.-ig.. lt ""8Sexacttywhat rdbeen
boklngfor.
n�n I no:iood'llli!h hooOI' 11\81 thO dl>adlino.,,• at s p m
. . ancJ il w&$
ncw eiowst 10:00. The él!tl� a�llcation - l'esumé, teccl"l'll'T'lmdatlona,
tramalpt, C\°C'rything snoud 11&.oe boot1 ll!Cnl houn oororo. t be j)M()Ct
hbm'lid1it· wil!I goi•. I w&ll t1u!lhod.
Then l�dto tae a Chenoo. I fil:t>d out tbe app1C8tl0n and was
e:iing lt> s11bfnit 11with a 1b.1fl'4 I baci on ff'l(')()(llpu!Qt. 8111 1ha1at11 IN1
th) ,-comrnondatiOn and IN trar.scrif)f.Thclrt wfl� M Wtlf I coul:I pi thttn
before t.tcnd�. So I lfTl)J'CYlsed. lwrolt an email èllplalnlngny ato,y end
o�tod 1110 •sond· bunon Just boltfo fl"idn!gt\t
On Mon� moming I roooNOda rrlQl'Hlly omail th&rti,g mo to, Mf
app11ca11on eni:I sa�ng lcW'd ha.<e an t\lt�re v.('e4( to.scndIn 100 OOlef'
dOOJMCf\lS.
Wt:ill intNI ar.:11 gol Il• inlllfmtu1 1M'IIS I 1A1111111d II v?.lu.&l:IA
IA!l�rL
,
Oeadlinea m!f/ not a�1,ays 00 ltUC dcadbr.c-s. lf irore ls scrootbingyou
Rtat, wal\1 1od1>. try ""l"''il/, boe&U!O lhO CWll9.,. IM)'M flllgolifltllt. So,
111 mt pas, )'011 ove, Il> JtN'lilo1.
• Yos. Hl, my na� ls jtnnlfor.
I g-eduai,}d rrom Lai» ccun.ty CC!'M'llrity C<ll!O.&O rn Maywtu&>gioo
in Ofl'U M1111q1;m,gnt ilr.d $iii. monti!$ ol il'C4:lmship OXP411;onoe.
My last ant«nslllpwu rar.tasttc, ani:11gct I t:y jlum luek. lnNINemoo, I
wll� u!lki,C ti> AliUWl, O!'&! or lho iu.rr mciml»ts i'I !!IO ca1«1t coufl9Clling
o:.r«11r, 11bcm: ohrll�ing 11n inllurnd,ip. Sh9 zklld n�. 'Vlluuit wooldyou
looell/ lktl to v,()l't� l dioo"t hM to 11101: IOt'lg ebout tltat on�. 1 um to
,1iopor11,- 11:11 uong:, ffbl bullb«,d D'I/Ds •ud so, k1-11rr1ltllh!1e1f 1111t1
�..()()fflwas my ct•m. Alison l�dll'A thot lhere we. a pos,ibllit;
I cOttdinu1m &I Soots Ori{M. ShO know IIOl'nOOlle 'M'iO wortod lhlro allcl
was wilfl& 110 ma� a cen on 'rtJ l)ONtt Iwas ab$0ll�ly thril'Od IM dcll\'t
'.
w11111 lo !fil 1� hopes up in c.,,.1hif1p ddn'l wort «M, Luckily, il w1111n'1
tro ca�. Ali!On'a contaci pu1 iro in 1ouefl wilh e uocts fmf'legc,rwt.o w.as
wil!Jlg to r'IIOll-1wiltl n'N). Ono wolllt �iN' I lou!!d!l\'111111 sillitlg in thO
QCIJ)()111(8 c.iffice til 1;00k$omne.com flll:!Qling'M!h $11il1Jy- m, PQ111·16al
s ul)Ot'Visor. Thct ff'JC!Clli'lg wMt \<Cli')' woll and I 001td llanf� walt lor a
nupenso. Wal!ingwas 1M wtrsr.I: was gat11n&t.1os.10 Cl'lristmM and
there woun'y� Wl.ll'.lle or w114b befofe I Jtll,ffl8dIO $tll0ol, I llll4didto
hM an ,nmrnship soeun:1d by mo s,.::ond wollkot das:s at ltlO latHt and 1
was gon;ing notvCus. Theday bok>IO ChriSCtNS11)1 en omail lrom Shito-J
tft'ins I coukJ $l�1l Il'' h11n1,1.,y i'1
And tbl:l(s all rrom me �atf �·
• I diOO't niw rrrJ ir'lllll'nshi1>1n thO oo,won!iOO&I Ymf. Actu&11y. I !ial dòw!land
mede e hst of ttie business pet9t-I a:lffldrnost - twoof ltlem..wro
aetu&!� Wl tb� aaroocity H my un:t.'Mil}' end ti ltl{l tlckls Iwee ift10rct�
il'I. IMn I ulWlt.l lhO in.llltMl10 llnd t»tllils on 1hllir oompar�.s Md lhciif
a:llt'eeaea. lhen I wroll\ CUSIIOmàedletll!f'8 I081x cl them, suesslng m,
po1'90nal (fA!iliH • you k.now, con!ICiOntlouwsa. onll'lusi.um,
t0.souroeru1no» - anc1 told tl'Q.tn hOW I th0ugh1 •n-p10yt1gmo r« a summo,
oc11ld bttlefit thelr oom� thtn I sent tliem otl wltti 'rtf CV. For of the
pooplO rdwri�n Il) rojlliad ana iwoo-r�n>d me a Joc. I nne1y �i!JO(I In
lll\'<11 (Il an '11.,•ilon·11ontal �u1!11r11,.y ,un bf iì t'IAfiy'11'1018fXiCW01na.:1who
oc11100 't attord to &fYe me a sa:al)', but IT'r/ parenrs helpe,d me out ancl I
Wmed 90 mueh dl.JMgthO summ1:r that thiswa!ldt an iS8111>. I ean only
t�I ul'irlgyoi.11 own imtlginatien and r.1M1;v1ty. lr ii ON wq fa gpl
arouncl tll�tlc!rce oompelitlon 11\al's out then:t Md roalf mekea a good
imf)(tuien. 8ut - <MU 10 }'OIJ lklan.
• Hi, ttiantsfOI' comng tod&J. U.y nan'lt is Brian and rm an MSA S'ludent
s'!Ud)'i"C rmtmational 8uslntss. Oot o, mo re:;unments ior our dogrofl ls
a Wt'MlOt inll>ms.fl11l à'.lroad. I dldn' I hM to loot lor lhO imomstlii> m1s H
bui WIIS plttced bf o.• Gl:,nT11111 pinlrlllf uniAHsil)' }11 � Gwrn,ar,
pharmscc-uteaeomp&.1\1. HOl'K'V�r. beroroband lv.as
· inte!Wwecl ty a
rlk'll\li!lk who C8tlll) 1 000, camp11s.1tnd-0f lh0u� tl'lr,) �(j()n!'I ha
as\ed �ro e bit penooal, sucn as "WNl would yw do lf :he c.e.rrr.an
eoll08SU(lll !liii hadtl'I aski:ld youarourd to tlVtir l'IOmoa orwh&•Wtr end
yo-J s1ar1od 10 IMI lii» en OUl�iffwr bJI hO prol>Bbly asb:I tboso thinp
becau11& hewanted 10 tnc,.v abovt my level of commlb'hlnt
I W!'ls,ory hapi::y I:> 1(11100 intomsllfp t:.caus& lht company l!a.s a
,oput&liOn lor l'ligtl st&f?d&1ds &nel iMOva� ptOduclt Apaft lrOl'l'l e srnall
heuslf't& subsld't I dldfft reatf �1 a,y monetary oompensatbl for ffff
wodt. but ldidn't m.nd, as I leamecl soffl.lCtl l'Mlr� in ire Sales
cklpa11mon11111d 1M1rf011llQda slilt.slieal an�is d illlbs rorOCI ac1i.,.lif:ts.
,.t,-eoneagues were �e:at � tncy �'�vet'/ fle1d
..
,,1ortl11gsnd ve<y
hOlptul wllQn I hlld probto,ms ot quostions. TIIO oompa ry iS temous f(lr it:s
·r11mily titmOSC'l�- - I gutssyou cali! - 11n:1 ttu1rs eorta,nlj what I
•ncouncered.
O.IOtel\ it was en OlCOCIIIOm oxporklnot and I hCf)O 10 DQ anlO bton,m
10tho oo,npaey &II01 I g,ad1111to 1'$4 y.iar.
a And on rny Ieri rvegotSlmon. V.t111rsyour story?
lii, fTr/ naioo ia Sil'nOn llull. rm a stuck:nt at rro UnM>rs,ryot Appl"1d
Sdimr:411' u, DUss,dckll'l. l'm rulljoling in tm,ir111u.,,ith li SFQC:i11IV111ion i,
ma,n>ttig.
,.� pa:onl! alll lood lrtata *'Id r u n liti organie Sl(IQr11'artAt ir'I fT'rf
riemo town. so I guusyou COl.lld say 111a1 r m so<I or t1r9dlsti1'19d to, •
eer•r in fcod. So wlltn I beg,u IOol:lng tor liti ln:i!msl"ip I decidila 10 appfy
IOA1111!1'ftar! f'l!!lrJ$. I spont 8 )'1181' 81 l'li&h SCl!Oci i n !nit u.s.. so I was
ramilia1 wlh 1hQ s1a111s.
I W!'lsn1 sure l'd�t thOjO�. asyou �logo IIYOugfl, a tcugti
�nil'IS j:l'OCosundlhO«:i'!'I ll>l!I or totl'lpott.1ion.1 had h> sul:tnit e
Jlflfllobo r.ont11inin.s n:y CV Md r11r11�ntllS11nd1h11nw�il'Wi!V:td tt>
Franklun IOf an inlllr,iew. 1 bed CM lecll'lg thai too �crui�r •'&l'llt'<I ti nnd
WI •.,
... 8llod rny l!ngllstn•..
,-. Libo·- ·/IIUUlll I u11,11111kl 1:H11tK:IU:l In 11n
offioe ·- or in II busil'l'ilss $IU(lliQn 1kt a 1'01Ni9 s�att1, So she DS!»Cf mt
lhog$ lb '"Wbait wOl/.dyoudoin aueh ancl aueh s-,tuat10fl, And�\'Ml
wCVlcl you� I
I thoogll: ShCt WOuld f'ICN'Of Slq). Md :ton shl) toOn'IOd
ll!"l'ly in1et1t•dWl n 111�ing sure tfiijl I Wl:111$1:ltliM about lu1ring
so�ling you ktlOw. tbat I wOU'kln'tjust spcnd the Sùmmc!r partyi�
Af�·wlly, I w&s <MtpyDd wl'Of1 I S(ll M ,unliil S6yillg ltlet l'ò boo!i
i,cQllpl:ld ri;v 111-.in-wl'l!!t paid inlll(l"IStip in tha M;11b;i1 R9!11>1m::h
dopaitmlW'll h the heedquatUrt in M:tlnctota. Ard lhet's t Doos a�bod1
hll'..011"' l'Jllll�lioM?
'*o.ti)·
_.r
,..
Audloscnpts
�--��-·
Llstenlng: Flndlng an lnternshlp
-
...
..,� r'l}r'I � /Il
IN) A jAb I r
..
� tb'i,'btl ir1 f,:o,..,, .,..f M <)(o,ir,'<nffl'>,\(�I tM,<tutl
rca�energ«lc womanwti:> eould'ft !ll'tord to t)tc roo a :<O'), bat rrrt parcnt:s
he!lp(!d ll'ICl out and I �amcd so muefl d.tti'lg <00 s11rr.IOOr 11\at ir.swasn'I an
iss,-.1 cat1 ooly l'OCOl'I\ITCll'd usingyou, t:,,m ,m2®nal:onandcioa1.M1y. Il iS
oM W'&/ ,o gei ar� 100 fieree compewlonlharsout them 100 really �s
• good mptttSion.
Yes &ure, H� >9&. l'n Mart .w,d fd li� to tel1 )'OU ho,Y I fuund my in'9rnslip,
lwa& sittin.g at fr(dest one FridJf nght lastwin:.er d-iring fnal exams.. I
""''315 sick or $tOO/i1'11t1n:I felt a $1.11:klen u,p IO look fo, an ir(.irni:ihi, for next
.s,..ffl'Tle(, l'rn majorir-i il aoc:,unt'"* and so I beg;,n researching on a n,urèer
Listening: Finding an internship
of ""'bfts1n that fekl wehout finding any!h1ng that real'y grebbed me.
Iwas .t>ovt to g;�
up
�·
semh
wllen
I
found
tl\il
pelfe«
in:
e
lTl.fflll,
Il
.
Pago 7, Exe,cis.o 6
S1m�n
• O,i.m
�\)
v,e-n p,,id a small $i!ary end inc:klded hcusing. Il wa:s eMC'lt(whal fd been
• My rane lsBrlanand l'm ari t.lBA�udent stu�irg �bnai! Sumesa
loolong tor.
ON! of thl:I reqlifemenl$ ftt" CM.I' degree is a summer inlem:tll! atwo.:I, I
Then I notiCEd wth hor101 lhiil lhe deadill! �& at 5 p,m. «id it was rç,.·
almost 10:00, TI-e enti'e a�ication- le$1Jmé, recommendations, tr.inscript.
didn't hM to took for tt-.! intemst'ip m>Wf bli was � lrf our German
e1er:,1hong- tm,;Jìd 1aw been sent hours bEl<11e. Tua periect ln:ems� wati
partner unrmsity ata Q.ennan phannaceubcal comparlf. H:w.ewr.
iOl"le, I 111<11$ Cl'U$hed
bffo,eh;,nd I Vli:1$ inter-iewed � ., �r wllo <:ame10 01n:.t1"11US. I kincl
fhen I �cicled to tal:e a char.<:e. lfill.!d out the appl'cation a"ldwas goilg
d thc1.ght1he question$ he ;)ISl,ed v.eie a bt PEf$0fl<ll wchas-wh1Jtwould
to submlt awith a ttSU'né I hed Cfl rrr1cornp.,ter. Su: tnat stil left the­
you do if the German colletgU!'sUII ltadn't aOO!dyou arourd to !Mir h:>me�
reoommendation .mi the transc,f)t, There Wi1$ n o W.JJ I oould aet :llem before
Of wha-»'-'Qr and YoU started IO 'oe e l Il.e an OWider1" but heprobao� aisled
Monday. So I impro,.i,ed. I wrote anemal explaining lfff&lory and clicked th.>
thoee tllings be,cause hewanted IO kncw about my lewl d tomnitmenl
I WII$,-ery h�l-'Y to 9:1t the int.11n11hip because the QOl'IPf-."Y hH •
$1811(.f' buli!On jU$l brifOflit n"idniV!t.
tepuùl!Kln fior ltiah standard• ond inntr4!A·e prolllct&. Al*1 tJOm;, ,mail
On Mord,y monin& I iece;.ier:1 a fri:t'ldty em;,il thi!Mina me fw my
appfcation and sayi1g I could ha'I! an eii.traweek co send in the :itlTe<
housingsubsi�. I dicln' t real\' get ant monetary CCl'll)ens;;.ticn for my
wçrk,
but I didn't mind, 11$ I l&111TI1:1d w rn..,;h, Iworted in lte S11le11
<locument.J,
1/,\&II. in th:! Entlliot Che r'llem&llip and11..amed .,�\Hble leG$on,
dep,ar-tmenl and performed a mtistical an.)lysisof s.iles furce ;,c;qMties.
Oeac!l1neG mJV not àlv�s be tnP. O?adima lf til.>re is somet�rigyou eeal\'
M'fool�agues v,e,e great- 1lleywere vet'f hafd.wondrg and ,•ery
Vl�t Il) <fo, tiy tinYlfll>'/, l:)eO,,U$19 l:tl8 (le;,din.i IWlf be llE'gOti;,ble,
t-.!!pl\Jl�n I h.,_j problem$ or q1111$00�. Th8 ex>�,y t$ t.,mous for il:$
�,ami.., atmos,:t1ent - I� vou call it- and that's cer1.ifiywhat I
HICOUnir!Jed.
Listening: Finding an internship
O,erail, itwas ;:,ne11oeUente�rienoe ;:,nd I hc� to bi lb� to A!turn
Jenlifer
to lhe OOl'llparrf afler I grad'Jate nex1 year,
� ,\ Pap 71 bt"I• 5
HL m1name is Sirroo Hull. rm a student ai tre lklNH'sityof Applied
lii, my namo 1SJoMll:lr.
$c;ieno8$ in IXi:s:seldorf, l'm 1111Jjorinain W$:!18HVlith a Jllet"i:t;,:tion SI
I gr1111ua111d lt0mL11bt C011�· communib• C.Olklpitl t,fay'li.!h a lfogrot in
marl:etin&,
Office 1.&anapment and stc months et lnternstup a,cptrieflce.
t.ty pa,ents are food fTeaks and Man organlc supermwtet in�
Uy last intornshbwas rantaslie, end I gol il by pur• ludt. In N<M:tmbl>t I
home tow11. so I gi.;e;:s you could $.:,V that l'm sor1 of piecllstined for iJ
.,._.., !lllkirtg ID Alito", (lf'IO (I thO sr&II tn0mbo1 S lrl !lii> CIIIOlill co11nsoting
ca-eer i'I food. So·Nhen I bE>gan lcoting for an inll!m:sttip lc»cided 110 apJ*t
�nl:lr, abol.lt ottalnng an itlt«nSlllp. Sl'le ast.ed me. "Wrlero'#Cl,Jij)'Ou ideaUy
t>American Flelds. I �pen� a yeat &thigh actiool in the U.S. go I was
llw towoit! I dklnt hff� to tllir.l bog about thai O'IO. I lil:O IO shop oolino lo,
ate..t{ fa-nllii,r with tl'W.! Stlee$.
I� lit-. b:11:t, $Il mo, /!tld so I kM.v i111mQd�11ly thill bnobonlil!O.<Xllt'I
lwasn't s�re fd ,et thJ jot. as )'I).I have 10 fP :hl'OIJgh • tt>\9'1
111'8:S my citllam. Absctl !Citi me thU toorcwa, a possl!Nfl!y I 004/d ìn�rn81
&ereec'l1ng p,ocesu
· nd th,eie's lols otccrnpet)ilM.1had 1osubmita
Books Onlir.. ShQ l:!'Owffi'IWIOn1t111Mwllfllod thOrt and 'M!Swill,ngto t'l'lllkO a
pcrtroro cont.rinina: rry CN �nd ref11renoe1S Jftd lt'enw;:,$ irvilfd t.>
c:1111 on rr-y behall. h-o,s 111>SChtl}ly U!tllt!I bui lldn'1wan: lO 9>1 my llopt.suf)
Fr..-.1\11.tor an ill(tf'YJeW, I Md l�e teelf'li that the recru1t.K .,,,anteo 10 m d
,n cas• l!ilf\P dldl\'lwOfk out LIJCl:!llf, i.twaan'l 11Wt C:1198. AISori'a contaci put
out hO'N g:>od "'I Eng'6hwas. ll:e ...w�d I beat>� 1 0 fur.ctìon!nan
tN In tou:ti Vl'ilh a &:ioks MMapwho was ""'1mng 10 moot wltll mo. ono Y1Ctot
office ... 01 i'I a MlneG$ $itu.,oonike a n<11M? spe-.,�r. SoshO � me
181$11 fuund tiiywlf s-11:iig in thrl co1 po,atoolfq al bool:so11'h1>.con, ma�ing
th1ngs O:e ''What WOl.idyou do in such and such$tuation?And �\'hat
....1� t:._,lcy mt po:cr1t1ol ii11pcrvl»r. lii<: mcet1rcwcnt wrywd ond I oould
wO\ldyou $8f if ... I thoogt,t .she woold �r atcp. And S'len she &eemed
hard� wait fofa f�1on!IO. Waibngw&s 1ha 111trst. l was �lli!lgd)s,o 10
rMly inEtHIR<I in m.-,\ingwe thai I was wrious .ibout 11?.,min"
Chri�lm,.1111r1d lhl:IJJtw,u orl.y 3 1:ou;ikt ol-llh t»foJJt I rshr.m11d lo !K:hOC'.ll I
to-nediing - you kn(M·, lhat I wc11Jdn't j�t spend lhe sumner partying.
ooodcd to 11&.•eM inlcmsh.p accu!C<I by lhC SC!Condwool: ol daas 8i too
A�Wa-J. I was O'Jlltjo,ed when I gol an email saylng tM. re1 been
la!4!1 M:11WU amng l'll)tw)ut. ThQ dlrt' bofoto Ol!'iSIIMS I goc Nl ll(lllli1 ftof'n
.iooeri<ed fo, a H),�k p;:,id inte-rl\Ship in the Matlc.ec Restweh depamnent
$1i'lty �ir« I couu sc11,1 on JfnJ#Y 8thl
inihe headQuarters in Minnesota. Ami 11\ars 1t Ooes ilFl'body h.111 afl'
q�StiOn& abM !Nt?
0
r
Listening: Finding an internship
� l) Pa,e 7, Exe"lse 5
Mat10n
I dictl't find my inten&hip in theoorr,-enbonal way, Acl\11Jlly, I Ml. d�I\ and
i
rrade a rst ol Che btaineiss pe,ople I adm red moot- two of themwere ac;qua"ly
,n 111e a.ame city es rr, un�enltyand h ttle &Ida I wa., 1n1e!'Mted In. fhen I
usecl the in.a.r�; tolind d!Nail& cn t,'�ir compari@& and theif acttess8$. Tllen I
'11TI>1e oost:omiud fE.1ersto sbt of �11\ stres&11gl1l' person..4 quatte&- yoo
l:now. ccineclentioumHa, enthuslas.11, rorourccfulooss - and tOl!I !rom hON I
tl·,c11.1'1tem:plovingne fcr awrm1er eo�ld benefi1 l�ei' com;iQ fh.>n I wnt
trt>motfwlth 11'1 )' Cl. four of lhe people fd WMt�I\10 ieplled and two offufed
142
Unit 2
Listening: Talking about
professional lite
a Moderator
• ReporterCharles Roìeru, C-aroor R�
._ !Oama Hama. EMroo Coost..-i.anGs
• HQHol 'Helcome lO uu, wwklredìlion � CIJrtx:r Rlp, Qur pma,;,rn r� )'0111'18
pooplO startìntout on lhe!lr ca,oo-ts. lllis111'(!(II: 011, tlll)Ol1(1' Cha,�s
•
t,,
•
•
IMl,oo'l'J �<t hxlò l•k•t'lg I� S. ytlm'le ...,._,,whr,,''J Wl"lllÌl\g io\wt,,.r ..00�
lù an uf'!l..'SU31fiell1 1..en llsten to thet corwcrssbon.
Today l'm tating lt> Jo&nna 1-tetris, wllo �Ì\�d h()f' �groo 11om Winmed
1/oftop(ll:lllr', lour )081 s89'). Joanna. you w1Ho just �n-"18 USQd ro 1M kkla
ttut yoo oou d COU'lt on spend� ),!ars In the sam,, ::::ompany-mn
disfll&SSal l'il)'C'ltl urw:t:.;ioctoc!�. CocAdyou Utll us about ll'--31?
w-. i:tlilialtyl thOugM 111611 was vory IUClt)'Yltion I g.OI lluswo�rtul jOI>
<lfferlr<lm 01'1& Cl ttle most prest!gioua cons1.11tancles In lhe U.K., rtgl'i! at»r
gradJaliOin.
orOOJ!S. lto :iiit-mor,th p10tuìli011$y pùriOd w11:1 louih,V:ipGCilì!ly
bceause- I was �CC'ted to "'-ori: on so m&nf d�rent prcjceu. So I wa,
i'OSi� �lcvM wh(in l.tlQ)' tuff"l<I l1'f jlrobaliOna,yoorw:ract in1:l a ptOpvt
CIM. lh:rf Mn.f1/bd mctwhich<lriAn's I wau'd libt ft'l'N(lfl:wilb. So I
ltlOIJgtlt rd ,un1 hlt itejacl:pot
So il was ajol>wilh a lOI ol porlcs.
lt �o, ttinly "'ti$. I quiek\t 901 1,110d IO !l'Io roe,,i.r, ...-oro..as pay c!\oek, �nd
m.y1 1to �tyle :h&R'l)(I COfTllkl�ty. I �t used to taldi\g cnonts cui to
o:q>c,.ns� l'Ml&u!'al'ltsand bsttos.. I a15o awrociatt-d thO tantastic Ui'lg(t
lll:lf11tl'ihs Outt !l�ournpWJ/<1ff1it9d: tlte p1Mlt11 hllalh inailllm». 1Vlu11n111t1I
pian al'ICI
.,,cniflgbOU"S. I had MnstBrl:'d 1ec1e1ng tor a h01.1secr
n,1110 tllrf.
And n-en outof tlV.' t:lueyou h&d to e�r yo1.rdesk.
Yoa. Sllddlln'f ti» co,npa,y 8M(UXIOOd thf!I il wa, IS)llng oH 8!'0Und Il
hul'IC!Md pocilOdul IO lhO S'l:notal OCOl"IOl'l'lie da.\•nfurn. IWh..ndiWiH
bH!gnade on a ·1ut ln, fht ovr bada, $0 l waaoutwlti'lln 13
mon:hs21to1 tm.
lhat's awM. 'Hflat didyou do?
Well ll>c1.1t E loog�CfYShOrt, I left: Lonaon ancl mo.<ad bact In wlth rn,
paronts t>!tf� moncy. I startt-d sci'Uliogon sppk:ationsblJt.
m*irlt.nal'°'!, lhill lillK> I w8!al'I !t>h,dy. Al lhct bigo,np1a,,us I wio� lo
�11.1rn,a �CV, ooying imi 11«>11�0, ot ,r� �o,�olon thçy��n·, �oklng
cn a"' rott S'lall at lhO ft'lt)l'f'IQnt
Alld Mw IOl'l(wlll'O you ll'\Off'ISIIO')•d7
rd been !ooltlg for IMI• monlttt whèn I goc tMJob offe, trom a amai tlrm
spoeialiling h tf'Mrormontal con!U'.l a ney. I hcy tllOughl I had a gcod IJU'l«lll
businoss bat:kg--CU'ld and WQultS bO 1b� Il) adllPI q_uickly b> 11-4tlOw riokl.
Alldooe&u:se<heywem bes�a.,. a atar1,up thems«Yea, lro salary tlle)'
crtorcd was 11 ctty mo�s:. \\� 811 work a b, 2nch,tlen wo\<C g.oc an
i
impo1l•1I cktul 1-.., 1 ffiff)' a,,,Qfl hllYO rtlpu! in .... &J 601YIUB lt'#lllkL
lhat'a a "el)b'lg wort.-cwook!
So wet.ld )'C• � 1ha1 you m-.ss yourftlflTIOr job?
Oli no, 8bsol11t., not. You soe l.hert .-. other OOl'l'Clonsa'lion$. lt'Svtry
lnllHOMll'l.g'IIIOrk. Bffldts, bllcaurio t's aucti a amalloon,�. I hatio r,
woar a 101 ot difforon: hats. I tal» caro Cl �l'Ora! ottlt:41 tn&l'lagtff'll)nl, thO
i
bookk.M;lpin@ 11rìd tòlmn1micatons - ycu tCIJl:I al:so '$li/ 'PR'. I 11h10
-r�lno:c ttc•e.'!Mtict" tllc pc'fjlc w� on•projc,:;t. lhis l"'clYCt
plemi�a la Ctf moolinp. I &ISO dosign f)(0$1Qll.tfltions tor rrt/ boss and
mollbl 111u1nprm>t1!:c fnr hlw busil'JI� tri�. I k11m ti lfll, p11rlicub11� ahout
lhlnp w(! ror.-er 1!1100 abt111 studiad at ur.t rrs aver, lrienclly, famlty
lb a1.mospMro, and I tolll VOI')' lftleh al ht'll'llll h0111.
Cou� YO'J IQII us somelhing a1>0I.II � kil'ICI Ctf work tte- ccrisvltancy <lot-S?
S1.1t1. 8otet1 a COl'l'lpary starts 11\u:om,truetlon ot a big�<ljOet, ttlO-j
eotll&t:I usto l'ind 0111 wllat trwirOl'll'Nlntal $1:Md&r'ds moy ha'IO l::>fulnll.
Rgh;. ISINI.
I otl:!n hl!\� :o aooompa� my boncn'llelts toconstrucuon i:--oJccu and
raelllriOs foroo.aito a11�1111mo111, Il) 11'>&!:o surll 11'111 OOnl)al'tl)safo
c:,ornptyingw{h g(M3imrn:mt 111�!ion$. This Q!)n irr.'()� iitçOJpl, of Tri� 11
mon:h. And ,om:Hll'l'IQS W4 C8l'I tta.-o a tind r1 troublelstloolil"C rcb. $1.Ch as
Vl'hOn a compllf'\', tlf�.n M • raull cl 111'\ 1'C:t:i!IMl1, t:aUWls plllllllfitin 11rd Ml
to PfO,'idi) 101 <:liHln-t1P. Thltn wt *'d an exp;rc to tlit si� fniJ n1oke
,�ormt•111J11lo111, lo, 1111tlll!ll11lkl1, A11d :11111111lt1•, w11 ,1mp1y hl,f,'11 w tllll!I
with f'OUtno NHto tmnapnonL
w.-. Jt>a•l'III, ttis $0Vndive1y inteumil'lll irid.11,d �md isç;r(a,inly dì'"'191i
trom jObS wH&.1a1ty ooarabout _
"""be
•
t,,
..._.,e
•
.,,
e
.,,
•
t,,
°'
•
.,,
e
.,,
•
t> YO<t.1 wllo.M Muoo NM) ,t,<1-.11 N ......,W,e ili <tol'hit f'°'..
I !\I.li o'I IW-1 IN>
ef't.tlronmematc�..ttancy Mlne�ls a gm,,•ltl l'I\Stm. There lsS.reaàt' a
hl.lJP lkmancl lor ;:he b'ld of s«w:('S v.e cli«. and 11d iSJJs:! �ng to
Wleret11&11 as lima goos on.
Joa.n,-. sowtiat are your plans lor tne full.re!
• Wot� tto othlltday a tr1N'ld 01 mino suggosiod lhat I s1'01Jld aot 1,4) my own
consuiteney, bOOOmt Stll'�MtlOJfd. Al'ICI .M htntn, .rs dqRni.1'11)' ari
Wltete;dog Idea.
ate)'Oli ll!fl'pl«I?
I> rii ÒIÌIllifif'ly C(ln$i:kl, t.
• Wdi m alr.e rum )<IU le>: us � hOW you �I OI'\ and I bo1 tor1o·ard to
1.8.lor'tg to you &g.Ein ltli!I �mo� yoeL
Thank you YOI')' m,dì ror :,0111 bmD. Jo.,nna. I wi� you11n tM l'IASI.
.,, Il waupleasu�. �
e Good rr,t and good l..:k.
• Md 11'411'• •• to, tod*)•, \\'o hopo yc,u'U tuno ii'I ,e U,o Amo limo no,11
Good byt.
• e«.
• so
-•kt
Ustening: Talking about
�,,,a,. ,o, ix.�,-·
professional lite
•
•
•
t>
•
•
•
.,,
• Reporter Cl-ari&! Robe-rts, C;,rccr RtJp
.,_ Ju•mi, H;,uis,.ffN;M
Cmrs,t.Jr.,r,r,
Part 2
Sowolikt}'OU S*fthat you niss )'(lurfcrmer jot1?
Ofl ro. 11bsoluleJf not, You lJee there .ve <lthE>f 001r�ion� m, ve,y
int�ingwo1k. Be.side,$., beoau:se l's &uch a sm.li<lO'Tlparrf, I ti.rie to
WNf a IO( ofd-ffereft hats. I t<lle care of �ne,,at orflO! rna�mt>n\. the
boQk�epin& ,ndoorn,r•,miça,(ion& - yç1;1 coulò tlso Rl' 'PR'. I ;,!so
eoo«linat1:1 <he ac.Mtiri>& <lf the people wo,kif'li on a projeçt. This illYOl\'e&
pianning a lot cl 11"Eetit1p, lalso de,&@'Ipresen.at:ionGlor ll"f boss a.nel
tlli!l:e 01Ta11p-i,en1$ lçr he:1 Mirwnis iripi:s. I le;,rna I« p,,rt:i:;:ul,,ltf ,i.,ç.,t
thing::; we neo,'e( t.lk:ed aboot or $.-udied at uni. Il'$ ,1v;;1y lriend)y, fami'y­
lb atmosphere, arid I fu.elvery rroch iltbo� here.
Cor.llc:lyou teJ U$ tiOln:!thsl&<lbout h l:ilXI d worl( 1h. consultoocy clot$?
�re. 8efore il compi1ny S1al1$ theoonwoccionot a bg project mey
con�t ua to lind outwhat en;irorrnental standa'd& tteyhM IO tuffill.
�ht,lwe.
I dt:en ha\\" to acoompafl',.,,. bosscnvisit:J toccf"4tnction projects and
fac,:ries for ort-61-e as.ess.m�t Il) mate 8Ur8 thai: CClr"f!an.èsate
<lomplying with 80'""1lll'IElnt tei\,11;,lion:;. m, o,n irwol"8 a çOU$)1e or 1ripc a
r;,onth, And some:ime$ wa Cca"I l'e.•e � l:ind ol trou�-.001ing rokl, $UCb i;à$
�n il comPll1)', often as e result of an aoddont,. cau$eS pol!utlon ar-.:i �
I.O pn;,;ide fof elealH!P. T� we $1}(1(1 .ri experc Il) the $itt ami m,>l:e
recommenda6ons for ren:«liation.Ar.cl scmetrnes we simptf ti.a.o todeaJ
with routine wasie manage,ment.
Wel. Joanna. thi&$0Und& �f'f Wlte1H6na indeed. Anc:I • oercairt,dff�rent
frorn jobls we n�� hear about ••
Yea. I wodd MYHh.rl"e d'lamt ol worklng In such a fi.ld. 8ut h f;)."1: lhlsc
ernironmentalcOf'<SIJ:tancy busil'l8$$ rs • growlh IT'\ilfblt. ihefe i&dtM:tv"
h� dernand for d'le l:èw:! of SE-J",'içE-S we offe( and th.1 is p,s.; going to
lncrease ilS time- goe-s on.
Joanna. $0 wh,>l ;n your plans fo, the fvb..re1
We-l !te, othef da�· a trend of mhe SIJf,gested that I &twl 1:het\.Il my own
çonsultancy. be<xlme set�mpl•d. Ard ." hn-tll. it'a�fri'l'ly an
int�ing icte..
Andaonyoute1rpted?
rii cet1alnfy conslder it
Wel, malte are)<lll te; u:s tOOIVhowyou8l'l<ln<md I bo\: for1o·a,d t<l
til<iil tO)'OO apn thi� time r.ext ve...r.
Tllat*you WJrymuci'I foryour t,me,, J03ma. l w!t11 youau the best.
lt wauplea&re.
Gotld bye and good 11.d
• e«.
•
•
•
•
I>
•
1,3
Audloscnpts
• AOd 111ars an ro1 �- \\\> hopo)'(XIII wro ina1 lho samo li111� �t'NO(lk!
Good.,..
Unit 3
Listening: LEARNing to listen
• Catl cent� �nt Ocris., Srn,« Kfs.
• Fr.lnt Meier, �
a YII$, W4 hlrlO IOVO!'ly &11 (:rodi! c&(dS illSuOCI &, & loroign b&l'ft. 11'!1
comp;iflY pollcy. rm afrald you can't �lac.e your ordet l..l'ltdwc''A! doro that
• BuL bow do )'OU do lhat'?
a \\\HiMld 1oca!lyt1ur hllnk. Colikl yougwct uu photvl lltfflbcu?
• \\�1.)'(>S ... jus.: a se-cenci ••• HefQ I! ls _. l!'s theVoll:!iba'*- TD�n at
ll'X>71"4113846.. But o»ro mtt/ bCt a m�-ago problllm ... I mHn rm not
su,o yOtfll find arr_;t,o� ,at !PIO baftk WIIO S!*ll:s Ercli.11\.
• Ocn1 worry, ..,,<e cell fcrelg. ba'lkS M-ryday.
e OK
a Th1!nkyou Ml l.toi;,,. 'Nu �.Wd bolìtél tow,ryyoi . Crlldi1 ca1d wilhin ?1;.
hOurs et ,r.osL I suggcu you cliius bed: tomotro'N.
e G'ùaL
a I� INll'O atl'fll'l;!lgQlso I CM do IOly(III, M1 �illillr?
• No, tha.nl:: you_
• ThMkyout°'eall:ng, uaw1 a &J'Ollt da)'I
• S&1nt to you. �
• Good�•.
• Good mcming. Srreeirw� Oorls-spcal:k'lg. How can lhelpyou?
• lii. l'\'O S\1�1 boOf'l t�to ol&oo an Oflli!ll} 01dM on
wC!cl:SilR bi.e il
wnn"1 wOR.
• Coul:I yo., t.ell tM'lltlat tllO probb'n sooms te be?
• 6.•0f'Ything 'A'Ol'b fin• up Il) thO p:tiM wtvln I N\/0 to l:o, in my dof-...:try
11dd,.$$, Ttion 1801 a mossago �ing 11\81 ll'IO actcl'9$S is D'old.
OK.. ls too Shlpl)lng addrtH outslOO lht U.S.?
• YllS, a·s an addl'Oss inGo,m�.
• Oh. l'tnw,ysouy bui wa ro,·1 ship 11b1t111d.
Telephoning: Evaluating telephone
• You must be jOki!'lg I� I sh.tta youu-lla� so originai. lt's a fl!&I shame I
CM't-OrdH thom
performance
• I U"IIR'rstand :h8l ycllre -.ipscl
• Customec
� l) P•1• 20. E.xtrcJM 1, C:Onwru11on 1
• \\'alt. 'Mlii _ I h&\'O a triond in lhO U.S. v.tlo's ooml'lgback tc.Gomla.y MA1 �
J11ck,
.. .klrtny, f>iort T�"'-Kl'IS
momb. M.,,tio ho 001.i �r1ns 1M r41111s wilh hm.
• Tl'el. would be an alter,..1k tf you llke, Vo'J could p� ihe crd&r'lll1th m e
Aecorded mes•: fhls 6 Oion Telecommur.v:.arlootCUitomer Sel\'loe
dopamrwnu. ryou would ntoo infOffllatlon about o.r producu .ind aorvleoe,.
• G-oaL H leould do th,1, t�n.
ptoa!IO pr0$!1 1. For into«natiOn abou1 l:illing a 11daeco11ru. pkl.no �ss
a $:,, I suppose lhls la yourflrst crder wlth us.
tv.'O. for phone and OOYloo su�rt. iteaw pre..s 1me. i youwlsh 10 reach
• Yes, Il is.
0ttr lootlnical hotlioo, pk.>ellC siross tour. 1:cr 1U olt'cr <!nQL�ries, ��
e In ltlal tl!!IO I l'IIIO:I yt:u oamo an:l �hl10!ìi1.
fll-'"SSrh'CI
• Sure. f'fna1r. c ls Franl:f,'IC>ltr. Tttafa Mc '-e r.
., Prione and Oe\-lcc Suppon. Wctl\' spcal::lng.
• OK.. And w"hat'S)'Ol.f' bMngalfdrau,. Mr IAoi,u?
• Yos, l'IOIIO, rm c-.81,rc aboiA a proo»m � bo<l:nti/lW'lgwittl ,ry HCfi?On
�!I phOf'ICI. I b011flt il abcul s,•mot11Mag.oand fflOn 11bout s•Motsag.o
• lt's Wtifldorn\'4g 37, 72076 n:rwipn, �rm�.
• Sorry, I didn't g,ettha'I. Coukl you spe!I that <1ut for ,r_e. jiea!l8?
h flegan actlng 14) 01'1 me.
• Suro, th8 stiwt namo ls Wo.lldorn.wog. W+i-N-d.o.r.n.w+g numbor 37:
• 111 put yo11 llV'0Ugt, 10011,tocltnieal aupport. Just a fflOll'IOfll. �least.
tho ciry iii rnt.ing;n. l-u.o-1).i-n-g+tl and 1ho 2ipcOCN i$ 7'1076.
• a•iCn Tde.oot1tmw1tCll.ùls. OJ!I� So,,·..» l,otldosk. )&et $po.ating,
Wllatctn I do r« you?
e Le. mo read lhls !»Cl:: t<1you: frani: ht>ler, Wt\&ClfflA'Cg 31, fllbn.,;n
12076.
• 11l rfl\eallt1gbècau!ll> rm ha-.ing a p-oblcm with Il\' lklt\zoo coll pncno.
11'11 ri.,ty nll'W 11111 irs s111,1.e1d 11tti'1g u11 on ,nA ta.klly.
e Yilil, thM'll CCl!fOl::I.
• Whatdoyoumc.anty·ae1uponmc·?
e And what lsyoor st.pplngaddross, l.lf Mc.cl?
• lt's Tom lb.,;illli:u·, 1t2 Fai!battb lloa:l.,SS191 Mil'!Nap,olis, Mt1no.w:a. USA.
• \\�I. !IOm)!i'rlllS I bS4 IN eorf'IOc::iOn in thO middkl or a<:OtM1tS11:i0n
Ar,,Wtlj,1.• OOyouh/Ne M &mlli l 11d:11essl
e Yts, !l'S f'nri".Mokut@t.onllM.dlt.
l'll put you UV'Ol.lgh 10011,toch.tlieal auppott. Just a secon.1, pl&uo.
• Argll, hOw hard c:a.n il bO to tait to thD lig:flt porsot1'!'!
a OK. 1\,0 gol11\aL How I NIOd yotJ( crodit ean:I G)!ailS. What khd 01CR>dil
H9lb. mlldam'!' rm�iy so,ry but�I ltl9 li1'G.st11v bu?f. Wuuldyou iku 10
C/:Wd do )'OU Wlln1 IO Ul»f
• 1rs e Vlsa card.
hOld or ShoLfd I put y<iu lllro11ghyou I{) somebody el9'>1
• Yo!I, p'.O&!IO eonno::t mo wilh somobo:lywhow.fl liSIOfl tomo!
a COijd yo,J � rno tho nU'l'lbor �!IO?
e Il'$ 75n 003? ?566 0066.
e OK, m1JC111m. l'II pul )'OU 11:.rough lo OUI Pho11911M DMirAI Suppnr1. Hq r.n
• And the !OC�rily codo?
""'• &nl't\wMrodo I find thM?
"' 0/fM TtieoomWNll!ClliCIIS. PIIOIVI &M 00.ieoSupport JttOfff/ Sl)'lakil'l&,
1rs cn IN back ol 11'18 credi! e.arei 1'8111 lh& signlllurt strip. 1i-.1os1 u-.rv-e
• Hi oatin. ,,,. jlAC �1111c&t11oyou lbCUt u-. p,otl&ms l'm h�·ing wilh m1
dglts.
H:irllon otl phoflQ.
• 011,yos. 1rs 106.
• Whflt kind t:J p(O�ms?
• I oftenlow Cll9w,11:1ç60n in !hv rlidù'9çr, çon\,ql'Ul6�1, I wnl lhe
• And wh11t is Uie ni:m-.. ul lh9 Uu1ng bilnkf
• \\'hat do you mosn bj ttl&r?
phoro baci: IO 'fOt) about a mcnth ago�c:a!JS(l I was stil unoer•-amrrty.
A,'d lhon lwlìs tol:l youWOUlltl't ,oplAf:o il boe&u:IO tho lll!kif)'was
a 11'0 1.-.!rìk which &'f\00 you !l'l> alN'.il èllrd.
e Al\ y9$. lt's l.h& Vaib� Tiihi�n.
n.1$(S'\g.
., \\�I. )'011·11 probeb� flr.d that tht pllooo l'lacl CO(Yll) in.ocontact •ith
• V()fl:!iban'd CoukJ )'OUspeH that?
mni�ll.ta.
• v��M
e 1$ tho: 11 Germon t,;,nt(J
• No, th11l � hf'li bl:len im110$$il;jt becllt1$81lllA� Cfrried h 1)11009 1n
e Yts, Il is.
� bril>leas.. l'm \'Oty up!!Ot about lhis bocauso I tti'll:lfs a pu1111t1
011. in lllatCISO ftn{f!reidwO'Wl'IM to 'IOfify)'Ou"cr1>6lt81'd-, Mi MQ-�.
O>CIW'lic:al troblom and thO compa� shouldtil!'ltr r. it °''•Pl!IOO tl'IO
ph(.,rq, Il 001lt111i S'lOQ. h1 lhl:lre ori,vne I c.-. IIIHHfl: to llbWt lhi$?
• Vi,rift � cu�:Jit<.:111d1
�°"'
"""·
144
• rm al'taid ooc. 1R!ldam Your phOr)II han 1cdl&ff)&blQ: lilhium.iof\pd�
bffl:ory. Too pcrfutrnanooof tiie b311l'I)' crpend:s on a var��ot f8«ort- tot
OO<Ampb, :hof'lOlwO(I: eom\gurttlo,n. � tlfOIIIJl:M tqV\111 il, lho
llln,'lllfll!Ulll 1r IM SU'l'l'lullcfne\ thll IIMliJ't&' yr./vQ Cho�. rM o:IW
ck!'vk:.:es 'fod� a:tachad tn )'CU'" porta lt can also dcpend cn your 11olce, cttta
ando!t«pft.&1'8m US89> pa1»m11. Apan tn:rtn ltlat.. cert011lon isc11an tNt
n111ut111 <0$11ll0f l'IOrmal titPot:i,-1!) ar et1:I tl\Oro is ncmingioa11ywo cen di>.
• 8ut not 811&15 montns!1: appe.n you are sedngcell j:tlone11 wttn boobH.iH
whic:h last IN cxacc ti� 1110warrarq, eo,,cn. lhis i!tl't leit.
• 1s !h1mì 8,Yl•1• Vli.lQ I cim d(> lù1 yCU. im?
Tel ephoring:
Evaluating telephone
performance
r. ,)
Page 20, ExerclN 1, Col'l\llrutàon 2
• Kel flf, Fifth N.;,{K)llilf B,nt
• Andrew. Cvsrcmcr
• flthl/MieM,Bat*. Kolloy spoatin,. can I tiolpyou?
• Hlll!o, rw jUU It"""9d lo 1)1..tilf, 1:111d rm i11\Q;1esllld i11 op1:111ing an l!ICJC:iw,1.
A lrk!nd 01 mnohu told mc :natyou �r good eondlt10nt lor bo!h
cm,,111 and !illrling:3 �11'11.1. I wOUld ll4 9C'ln'lll fOOU:I n!Cf'n'IBUCUHll'l llllll
• Wllll il bO.gan til lM dll$k.Wo hlld 1owaik hai an hOcJ, 10 bo thclc:l:Od 1n ftr a longtlight - booa11te ycuv.X>re tal::l�care o t otror gJ0,4)8. Th:>n lt
IOl'Nd 011: tl!ll t thoro ,,.'016 f\01 Of\OU8h i"'li5li:Ht 1""11 liabb ille( W0 lllld
oxpioil� 14SCll'VAd !tiom. SoYol'/11 e# OUf pAl'lk':i!l*'IIS hlldlO sh/11(1 r'OOl'l'IS.
• WOll rm so«y tohear tl'8!.
• Wo had a arnilar prulklm tho noict 1'1'10:'ning. \\'OWCI:,. gt\,en • "*Lngroom
thM w11s rar 100 smaH tO(our p-urrioses ancl lTIOtt was ne a!l41tnertr.9 M tllO
tiri.I daf, bec,;me ali tfle<itherswere oocupled.
• that fl'JJst � ooan W"f annc>,;ng, t as,uto )'011 tlliSwM· 1 flappcn again.
• Til{ln 1twro W1110 muro oumplai1ih:1 r,orn Ilo p&i lidpii11l$: th� Wli1'11 in thiJ
pcolw,udlrty, ttnc ot the troadmillt Inlho fl�ne-ss ccn�rwcroo:Jot
t
ordot Md tinally, .,._n.,nwo � our bill,w<t dillcO.-Ofod th1l'NO h8d bOO!l
o.�h1d ror l'hA n1imhA1 <il 10:ims.,,. h� origina'.� htiolbtl.
• Ma Sr.orwt, ls ll'lat right? h sound11 aa thougl! wo tM.'0)'0118'1 apolog,-for thel
�neowo eau!*I you. canI s-ostyou son:! r.vt al lhiSin
w,itin,? l'U c�cl: lhO dot8ils with the manti�a1 lhe Ou,ort Spring, l'iotol.
I atlOUd be ab:.10 ,:t< baci: r>you l'llf'AtWOOk. I :tilt* INl)'Oureompany
will bo a� IO U:f)<IICI a wiuehor ror y<1ur � .szay 1111 botc.l orycur ehOk::O.
• W11ll thJ:111ls111:1,y ml.di ro, �ktg wilh lllis.l'U 11111ldy<JU &111 ltlll d;,llils lh.i;
atoorooon111a cma111, lhat OK?
• Pb111o do. tit,om.al e oo thct cornpa1y wobllilo.tioro )"k.l rouod 0'.11'
�pnone nulT'OCC. &njUSl lflC8Y.', l's iarry.te&eOC-.n.ncnoie-is.ocm.
8"111 apellod tMt4..l.o Md Olr1111dHo!els as oro wo,d.
• OK.. gai you. thriswiry tnuehloryour r,a:illnot, Mt&mo.
• You·re weleome ard ap-olcgesorce apri.
e Thanla. Goo�.
• Gcodtr�.
pi(>&$!!.
• Thon I IIU89n'lyeu choel:: OUfWj),IISltO.
• '1111111...ould do, t:11t trlfOCm�u»rw.u dnagwl in d'IQ movo 11nd rtn unablt
to 1111& IL
• WoH ... caByou oopoal C!>,000?
• U)Cu90 mo?
• C a nyou deposrt !S,000!
•
do yc,uwant to l::t'ICM' thatr
1
,yeo tiln opana VIP Aeeou,L
• I )'Cu haV(I L;,ooo to lkl1osil:
• 'llhj on oartt ahould lo�n a VIP acccun1!
• YIOIL !hOn)'OJdOt'l'I l!M I O pay anytoot lorc�ntwiltld.l'l!WIIIS. WCI:
Warm-up
also hM • J()QdMcktlll on stvinp aocoontsor t.10,000 01
Paa,34
t> Why di> you.,.anl 1okn0w lf I h.W l 10.000? Alt.youctiedilng upon ma,th? � l)
• Sir, you W!'lnud 10
somo inrormarlon on our conditbns, fll.mombor?
A WOll ira oasy to soo howwt Sol that n11m11.wo lod: !lloono. WO'IO ITH­
• YIOIL dOn'Iy(\I l\f,yo anybo(fy I Ciii Mli> lii\ iflldlp!ll C0m'0!$8li(ln.,,;tt,?
sian:lir1g. $".lftOur$611)' a pal'king tot to, hul\diodS of C1rs.AndV1'0'W goq
muctl more tloCf -Sf)aOO than tradìtlonalrota.lors. 8ooau!e we ooed so
Somc-body'tllocan g� mo 90,roeiq,ert acMoo?
• OK. Yloul:I yc" k� ffi'.l to fl'l&l:O an appointmont lor ycuwlth Mt Bcmn:tin?
rou:fl spaoo, v.-c �noral� bea� !n a !l.lbufba'l a,ca lh� Sl:O(O hofO ispar !
cl a r:hllin. 1/kt hllppA11 lo l1't a g,in11rlll ffV11ch.ffldillllt bui lhllflì l!rll 111-ll!ikws
• Ylhoii hol
• He isour OJsll)(OOr SMic.e man&Fr.
d M ?fP08')ceìa.1zìngln oro li�. 1b booka « tcya .
• OK tl'oon. ltq)O UE l:nO'frl'!IWhal t.)'a 181:ingabol.rL
• Jusl n SK:Ond l:NI\ 1'11pul you tllrough.
B Wt W91't Htab1isf'léd ;, tht mi(S.riMlMnth ctllluty 3l'ICI "''" I"' l'irSI
tt!ailllt to offer a wldt ranp ol pr:x:11.:ta ana aeMoes. J.trAr trie w111wo
oponod stoi'H In Oll'iH ur1:an IOc3!ions ard Jus.:i: 10ot11t� � oponod •
Tel ephoring: Evaluating telephone
S1010 h li :1hoppi11g rn&1II. "lkl p,'08 ou1i,gk.w c;n<M qu11ily mo1d11mdtlo
anlfcatN to.!!n YP martet 0011'.ograptile.
performance
VI"°
Unit 4
tnel'•.
'*°
• Rac�I Sione
• Larry lmte
Rec eptiorist. Du/lflfJ H«ei'• lncorporaf1ld
a D.iftlndHctdttlCtrp«Ned.
• Hdo, rm c11lingtromH$1YfJC $dfw4re. l ·NOnd91 I lcWd s11.al: to
aomoont in <lually Conttol.
• COUlclyouIOI MOwNt you·io calingabaut. ma"am?
• v,s, W Otlfll!lllfl't voi,
,
nely IIQISt�H.f ti t111ini11gMili i n Ql\ei)( )VllfIIQWb �m.t
thNeW'-lra a nutnl:« 01 prob�ms.
a rl 904 ir I can jlUl you tl1 fc'll.l.g!l til M1 lllìstQ. ._kì's ind,SJ9f Of Cus1omcu
Rlj�!il)l'I$.
• Lany Bcsio, :i.t.1tomor Aolatbna d:lpartmenL Wh�I ean I di> loryou?
• Hlllo. f'l\' nall'A is lblehAI Sttll'll. I wort al HelJl!J( Snlt,,,d!M. Wo �Atl!ty
h&ld • twc>dw :;emi!\# at 10111 hotel " Oe-9lHt S111inl$, AJtel'W()rdS 111111,
wlltt a n.umbtr <i c:omplainta I oma:l11d)'01' CUatotnot SOMco dOf')artmont
l!uC solar 111tre 119$1'1!'? bOOn 11 1091/.
t> Well that delnilllly 111toul�n'1 hD\'e �Plntd, Cclold )'011 !sii me eic1:1etly
wha! wOt'IIwrong?
C Ali ti. IA1m m,gg:i:11,. al 1h11 b9gi11nil1g wit didril h� 11r11111il lricelion. �
eustomo, cho.so his ,r..cf'dlandl90 lrom a eatalo� 8nd tll!S wu sc.v: to
him by post Ofcoul'SIO thia is..o� OOl').o0nk:Wl1 as ffiM)' ,,oopkl IMI in rural
•tu M3ny retoik11s (TI ttiis M,. ev11n1uat� ol)t-ned blid(f on::r mc,tar
st'IUlt. Noodktsa to aay, thil catat,g11ot tC<laf are 8bo o'll.na.
O ti.,..,..., thll1', lKlll of11ciutt � lo ll!SCJibl:I it, i\m't i\1 �llly, i(i w101119l
we, to say •amall fa.mli/busitl(>SS'". we pet90ruDJ tlll\'O 10011 wn
o-111�oai Wt 1tw:uo ani bis al 111:l111$ lil:.o 0111111'1111 lttù()S)llfitllld jus1 by
lh:i ow�• Olld i:a l'(lmit/ m;im�r. WA Mi9• 1Qyaldi8n�" .ii-.:j 11uJ 311
�ncklnt, bu1 who l::tlO'A'S lor 1-.(iW IOng -·!
E" Ai you can hffi1 we h3\'e o prime hig.h,ftt&OI beotlon.We ffll omfol'O int
011 morehanctso - oos1M1ica. oreourso I dM'l cwn ttio 11\op. l'fl'I tM
rrancl'lsot. but bu:SinQss is SoCd anci ldodt rogrot i!'l.,o� tllO tnotwrt in.
11-ii�tOn.
145
Audlosc:npts
Ustening: The lowest prices around
EJI' ,) Pa_ge 36, U:e-rcise I
Il:,
a fh::lllllll Smill\ /(JWflA'i!.1
Radio pte$Mlef
• Bmd Allan,, 8t'!!it twg.tin
JI, Sutù 11-,')()ugh. TIit> "-l)pieeril b/11•0,fit. Il-o consum,f bt>ll0ril$. Al'ld 11".4 v.·hefo
co-Jnciy bcoo."1'13, OOC8.l,ewe're ra1sing tl'C standard et 111.'ilg bylo-�ring
costs. lf you IOOk at 1m figuros. ycu can a� thai a tamtf �hat ahOi::s a t
&ti FWeJ!iill cat1 � es mut.h at m on I.Mir 91')001)' bil11 in •)'llllf. Juu
thlnk of A. Thars li\e eatlngfor notnl('8onewook a molVI.
• Mr Aran, tl!ankyouvorymucti ra1:1rig tous.
li> Ycu'r•vor,welOcmt.
'°'
• And nowit's th1e fut our da�· bu3i'le$S program Cr.Jt Ro,r,
&·,e,ybo�· knows lh0 teù'lil chin Bclif &,rpi:1, Vou mlJY k:He il (lt h.:ite il,
tut a'most e\'el)·bo� ShOPG the� And wllyt Secause ttte pnces seem
ur.bea(atle, aod mary d us can't un�&nd ho.Y tt.(f can do Jl. "'"
Listening: The lowest prices around
CaVI Row hH wn1 il:$ j(unali$t Mlct\081 Sm.th to � /kst
headq.11rten to talk to their ,·�esidert 8nid Allan,
• AadiO prcsenlC>r
• Mr Al'ar\ youroompary haa come a l:,ng'Nafhom a normai supe,rrnari:iet
.. DadAllal\ Besl88fg$,'VI
W 011:1 \IÌ"\l�W\10tll,:!1 il b-lv\lo,r,
• Y.is. ...,-elL Nek in thedd�s. our stotuu� 1000,e prorootions an:I
Part2
.sales. Tius was called promotional cf.iscountircg aridwas...ery oopular at th.M
• Mr Aran, r« me ask yoowhat the 'Ahole 001.l"ltryls asklog: hi::M• canyou
l:eapvour prie@S oo low?
tìme, For exa11pt,i,a slO'.i t)·pic.lltyv,,'ent tllrev&f1 a picins� fOJ.:,
particut.lr oonsurnH procrucL So.1lething lb a 64 oz. bcttle of laundry
li> w�� it requires enormousfinanci1Jldisci�l1ne. We Ila.e to lieep 001 oosts
d«e�nt had a ttplcal shel' price of let's � S13.99. Ttien 1!iefY few
d0'11n - �ts fu, V."al'el'..ouslng. <:O"�S f«logi6tlcs. 'Ne also ha'ie 10te-ep our
v,e,el:$ it w�kl be discourrted to $10.99 or $9,99. An:I thai wOlfd last fo,a
prolit m.ir,:ns low, bUi Mry busine$$ stud'ent kno-Ay:,u l!'lll\e u p for this
few d,ys. Cu,to�rs would Mb to the 51::lre to stock 1.41 on �lergenl
�voh,rne, And lhen you may hwe nolUd thai we ç;,n offe, the sam,e
lhen tfl9 pri:)e wçtJcl t9 illQ'IHl*I t o the Old �"'l. "'°"'lho: 'fqm h..:! li
brands H ou, coml)O!itor, bui ot e low;ir pfiw, In fact.W' p1ioH ero
unbeatable, lf, custom&f ctr1 fn:f the ,ame pn::,c)Jçt at eno!Mr ietailr.>r 11
lol of (is;,tmnlf,i,?• fo, th! consumer end (o1 lhe r'*eileu n we!l b&cllu$e
a fower price, we'II match it or tiwer it
he Wili oonsi:antlf $t0Cl:ing fcr ttie promction .md changirc hi, di$1)l1)';.
Ju�t ttii'*.of a 12 UG- b:,111; ol l;l.aid 111:1me ç omn�. In• noigh!;o1htl0d
Y/;111, •'9'te htipPf 10 '$l1J we'"tl <klne 11w11y'Mth •llol' lNIL We hM low
grocery store it sells at around S2,29 a boe(, HouMrarld comfl.il:es
ptioeG Mry sing� cl\' of lt-.! vea1, Thai m&tlnilhlt t he shelf price of 1M
tottle of deter{J!nt w•atA\\'& be m;rfbe S l0.29 - oo mo�. no �s.s. Let me
r,,:,ica!� cost S 1.89 a b(ll(.. Occaslonal'yyOJJ<:en fird 11 Si)lewhere )'0(18;1
lWObo.G?$ofçQmft.,l;e$fOI $Z,,tQ,
gi-re)'OUtlno(hlJt E0011ple ,�
Al 8�$f S;qair', a bol(cf oornfl�kes is at�s 99, That's more than
Part 2
• IN Al'ati. let me a&kyouwh111 the whole country is a&king: how can you
2-0lcrnaper than ay c<llH tood retailer. evenwhen ;lte com'lakes in
l:IH!pvour priwa «1 l:iwf
()ti Mie,
• Wel, it A!Qui,es enonncn.1111 financW òisci11li11:1. We l!M to keep ouroom
• Ar<I l!ow irnpcrtani: .ireyoor $Upprell fl keepincyou1 prioes down?
do,m- oosts for warehousing costs iof logi:stÌC$, We also ha� ,o b,ep our
i> Su�•r, are a veryìmportant f� We hM ""Y IOtlB'"*tm reladOl'l$hJI$
wi:11 ou1 $1,Jlllli.wl. ,,,.; thetie ere li'llO i�nt .i fflling ou1 pri;:,e1, Fçr
çrolil m,rgini IQ'ltt', bu< e'#frybullf18111 stu:klnl bitM"liyou m�\& up fcr dii
l:,'\IOlurne, And tl"en YtJU ma/ hJ1e noticed th.il we can offer the t;ame
�e. yw rrq, find lhe same micn:M'M �re for S<t9,96tllat you fin:! for
bra,-.·h a& oor competi-on b:n a l a lcwer pnce. i-. fact. our proes are
$e7.00 il a speòal::)" s'Xlie. We can sei lt at socn a kHf prb becaase we
urbe.ltiltfe. !f;, CV$10rnercan fmd � same procucl ;,t,1nott:er ret,ile, .rt
l)IJ'Cnlse in fl1,1� Yoh.rne fnlm (;4,11' suppliern Ml ;:i period of ye,.,r1. fhev
a IOW?t priì:e, we'Il ll'lltch it or lower it
l:nON thlt'J can ooul'll on on:len: from us .incl &O they offer us a good pnce.
Just thilk ofa 12 oz. bol(dbrand name comftalres, In a neigl"bothood
A.nd'Mth globefla:lon ttley knGW tltat ttv.>yaie oomped,gwiluupp1ffl all
Oo'et � 'll'Orl:t IO the'(m;,l:e lUfE' thft tl1e'/ cffe,t 1.15 <I very BPOdpri;e rr.Jeecl
Kroc:etY $loreli Mlls al n4,1nd $2,29 , boK. House-brand oorrilal.:N
• Mr Al'.in. il 1m been uid lha:t your 1)1'8$$.l't! on priçes NiS p\t the .squeeze
t)'�tf OC>61 $1.89 a bo;if. Occasoo.ally you<:an 'ind a $aie Y(heiey<iugel
two boxes of oorn flal!!s for S2.<l9.
on manydome,'lic manufaCilJrers. 'Hhat v.ouldyour Ulke cn thilt bet
JI, We�you çari $lJY thatwe ·�· oryou c.tn � th;:it •'e ·sthuJ;ite'
At 8"r8��, boK ofoon,fbtesis ilM°<IY$ So.99. Thèlt's more th11n
2� cheape,r th.in anyothH food re-aili.r. ewn whein .he oon-lla� are
compatition.
• We haYe ll)lkedlo form«&'-Jlplierswllo''Je sald they'Ve gone outd
onH�.
• And howim11ort•11t ara YrM wpp,"� in �ep:.,g y,w: prioes dowl1f
bus-Nss be<:ause 1�·,OOIAdn't aHon:1 the tow ptioes y:,u dern;:in:Jed.
li> Wel. I doni l\a.ie 10 1.E-lyou thiM ùiat aocusatlon i$ ridiwlous. In fa::1. 'lt'e
• SuPP.�are e very important factoc". We ha.e ,-err long-timn �lationships
cen guarantee etdets fOf many unall oompaRee.
v.i11 our suppllera. end these 11reeho1m,:ort11nt l nsettrlg our pri::es. For
• Se it sound$ as lhouti'(Wrew;,rc that the whok! country is better olf as
Memple. )'OI.I IN't'findth.> Hme miclQWl!'II! llent forS49,96 thatyoufind
fo, S87,00 in a apec:i.tty&loie. \\'e can ael1 ft ilt &uch a bY prèe because
a r.e$J; of &sr /wpin,
V.'1'> 1)1..-d'l:llil" 11'1 h11g,, vnlu,n> frrun n u r IIUJ'lfllbr11 n\Slr 11 ('ll'rilvi M )l"/!U
li> �urr> l>nntQ?II lh1> �4l�"'"' h,,,r.1>fit Tb ,r.nn1u1rr..r tv,.,v,fm,_ Antt ft"_...,.,tint1>
co.intry benefit3, because we'1t1 r;:ii:sins the sumOOtd ci lio.•i,g byIO'M:lri"I
Theyknow ttwy QNl count on o,decrs l'rom usand 80 they dfer us • 100d
cosu. lfyou look at th? figureaycu<:arisee that a fafr<t/:ha; shoput
,:rice. And'Mffi globalG:on thef kncw that tlley are oom�tingvdth
8esr B!irgMi can u,,e, aa nu:h as
on thelr o,:,oery b11, In a year. Jus;
VJpplen al <Hf!r theworldso tooy mal:e &uro thattheyoffet us avery
t�ink of il Th.it's liìa! eatinx lo,nothil\iione-Wi!E'I: a rr.oN:h,
aood prioe- iMeed.
• INAl'.JI\ it hes been said tha'! yout �ressure on prioes lii$ put the $QUe&e
• Mr Al'a n, tltankyou wrymuch tor tal:ing 10 ua.
on l'l'liilY dom<!s:le m111'Uacturers. Whal woukl ywr tate on t�llt be?
li> Ycu'rewiywe-Soome.
• Wel, you can $li( that we ·squeeze· or you can &;J/ that 'N9 'stimulate'
com�etitlon
Charts: Understanding bar and pie
• We hM talked 10tonne, �pllers wrio\re satd th/1)'\-e gone out et
charts
bwi1'%&because they couktn't afford the lowprioes '/00 detTlllnded.
li> Wel, I don't t;;,,e 10tellyoo lhat that accusatioo ls ridicu'ous. � f� we
Pa.p 31, Eurdh 2
UnMlrsily l:leb.l'or
� l)
<:enguaraMOOOC'Òe'!"$ fot many unali cornpanles.
• So it sou-ntts es tt'.01.1,tivou're &<ffing tbat th? whOOE> courtrr i� beto.r df as
A&YOU<:an$e& from the pi@ chan the iewnue ofthe top IOOretailefl in the
u.s. IO(t�d $1.74 ttiltlon in 2007.
a 1esu11 ol Sesr &r,si/1.
a.,,,,;,,,
ro.
m
146
Waf.M'IWl' tops tlll,) liSt � ra, wlh $379 tilliotl. whi:::h ,a w"H Mr abmlh ti
ali re-.-cni.e combned.
AlthOl.lgtl Che pio ctian Shows on� 1M tcn ffi()S( su�sstul rotailOrs h thC
us., OM lhi'lg iS ra!Mr ltlr16rig tl'U)SI Of lhAm bl:llotlgttl tM nta!a
metehand1ser1.
t r ttioy IOol:: Rl"'aliYC:11/ small: Co-sroo's and
Bur in COl!lf)arisonwilh 11'...,...r
TarJ1}."s rewnut amaunts IO t011gh�$64 miflion oacr. ar.ci 11',1f#etM's to abOul
SS4 mlii.on. SIJ/)6fWIIM,wtilch ranl::a terth, has fMrtut et su m!lb'I,whieh
is IHS than 12, ct K�MSl'YSIOY<l�.
1.1,rt lflll p:iht out a nogigjblQ-, willl, klr ,,� U.S. r'1tail n11Ì1!»t n;glgi� b-JI
(Jl�an lnll!l't!a:lng oompc-tlt,;,r and lh&t isAkf, ltlC' Gcrmn �t9!�r. Evcn
thOi.cgll il doQsn"I aç90ar in-011r ctsartsit tanl:S 91•00 tbQ li st ol tho top 100.
'hllAn� look al lhA pcirfl'lrmatH»of IN US. 1A:t1i1A11 in I.Arl'l'S <Il grewih
the pletore cbantJ!S 90mcwh81 dramalleatJ. Aswe CM soo tiero trom thebar
Charl, KW..Vllft'S gowll'I is CMSidllfllbt;' .smanor ttllln ll'lat OI ila OOfl!PQtill)t!l
COs-rco and H�. 10, o.irample. Y.'hal is Qu•• ro,maR'8Clt is tflt
pertorm8"1CQ ot VlhdefcodsMarrer, whleh ca:Ms 10 haallb,cooaclo,Js
consutne1rs. Ila gyowlh rato iS fl'IOro lhan .wt:o thai ot W.tf.M.vl.
EXCU$1 n111. 0X. -...ti:m1 Wltf I? RQthi_ kit'i h;,w a doeslH look ;,1 IIMJ lll)pllr.11
rotaH ma�t Al�hoo&Jl itc eoonor'r\1 slOwed on a tlt!n 2<10?, u.s. apl)arol
rot&il.:M"s dd jll'lC lly Wllll. Af. yeu can !00 Ai;}illk.9,'l AlfNUI � lfto riflh
l!lgtiest grOWih rate amoog the- 100 stron�t rot9t�IS'111tll3S.� In fac-:. tll.'
11pparOI sogrnont showod htgJ'M gt<M·lh f&ll)S tnan th e supcHl'l!l!lrllot !llOgrMnt.
NCHI, l•rs hfr,o a qui:':I:: IOol:: 1111�0 •Wogalod g,cwth n!UIS Of thO •o bol!
retall pttrfonners from 2004 to 2007. None oftN! supem,atUtuie In 1M top
(f.lil(tlt. O'lly thO 'lltlOIO rood SOIICH' K-1IO(lf H)(Jd$ Marx« Out/)OrtCrfl'IS thCU'T'I •
wittl 7 061.
.
And althe'-'#1 WM-M�rremalns the l(o. 1 retaller � rewrue, lts growth
ra1<.>s o.<ar thO tm � )'CNS amoun.�d to 32.8%.whieh p111s thC ()l)fflla� in
ncDII �las:i plaoct in 1h11 rartirlg ol llto 1<11 1 ,o ro1alo1s ,d1h 11� ll1!8QS! &J'Olro'lh
rete. 8utif )<IU oonsloor lhat tne food marltt is�most saturate-:! � end
IV/J.J.1.-t is al,oa lood rc,taittr. a grOWlh rabl d 32�is lwty n:unarl:&blo. OK,
iors hM a bOk 111 1h11 M1C1 on1111 ...
•
•
•
•
•
a
•
•
•
•
Unit 5
Listening: The container revolution
.,, hp47,
� Eic.rclse, 2 and 3
•
"
e Anchcr
a Ro1J!t Gi:18of\ Cctrnp()l'J(/f;v)t
IAchilel Brown
• TOdey on &is.'i'leu lforld,wo'"9 soing io tait about a pbenomencn..tlic:h
11119 truly chaflglld the world. Probeè>f tw::lhlog ha, oon1rlbU'lod rr.ore '°
glciballmion lhan thO rovo111uon rn transpott 'Atlieh oc�d orti abOUt
r,11y )'Qlltil trgO. 6o-1orv 19W
9)Cdsv.vl9 tran:1po1t.G:I il'l·woodtn
<:rat.;s()f var1ous s!Zt!s and' shap«i cr on i:a�ls. Loadng end unloadll'lg
lhOso at: po,1swas a li�OO!lSt.Wt'ltlg proco!lì and roqui.od hutp &ln611t11!
<11 rn'lnpO'MH. Pl)r-ls l!IM>r�1fa1d...,.,1�11U$1U foc lhQ $1� ol :1111 gnod�
Asyou ean imagloo. aro c1a.,e1 d11rnag.e and pil!llre�'Nti higll. ll!on In
lt'lO la.-o 19501 an An-11::u·kan 0111ropronour namod Millcotn Md.Hl\ eatNt
tilong. He hac1 t,egun • b 1tuct drir.·111, stM&d lii$ own Mul• compony
and thOf'I had mo ,Ma of oou11tng sta'ldcM'dtzod bc'os ',,flceh oou!d bo
IINvtd by Cl'l!no onto a !l'lip. COO!ahOrllation wasMm.
Tedi!)' .-bo111 Q°' of,n S')Q(.lf t11mllP()1 led in the w.,rllf t1H11;h 11w
dtstinetiOn in eor.ts!Nln. Ih� a� Importa nt oontarnr ports au C!Wlr tht
wc111d, in::fudill,&-OI� in (lor ù11ll OOC:k:,•d Ou, C(lln:i�on:kmt R<l9)r Gillelòr1
hit!:I b:ler1 111 Wes1p11:1 lalting lo II ll:l'fflin11I mi:lrl!lg;u. h1t'!:I hl,l,rwhll 111:1 hl:l5
lO SII')'.
• Horo I arn ac \\'As1ga10. \\�I. Ibis 1•minil is Nnft1.ng- irs 1M iwo <li
wv,1d fc,oitx,11 stadiuln$. b<.lrywhtre I� ere hui, çra'* end lm
S!Jrtoundod by thOusands of tlrighlly t-air\tlld contaiflOt'!I. lots ot it.,n at'I
Sla<.*Od Ori t<lPCI tach OCIIO( a llll lito 8 Child's l)Jlc!ing l!IOCkS. rm juSI
abini.lire her� liAfl&t1>lliçh&$I 8rc,, •;n, who i$ J, çh111&J l)f th9 tem1i°",
Mic:IIMll, baw 1008 l!M ycu boonwortinghe!m?
'"°"
•
"
rvo boc:m ,� for ak'llòSt 20yoafs oow. 8U1 m1 fathotWOlkOd to,o lll:)d. in
tl'IC days bclcre �-re a container pon.
Ac.>ally. So hOwwould yOJ say ltlat eootainerll:atiO!l hasehangod ttanspotl?
\\'QI. <nicusty, irs int:roaiQCI lho 0/190 OI Mnr.lir«, Ttio d!lt.ks usod to bD
Marmlng •.-ith loopl\Om.me-n ellOat>out lhe ooly p�le you soo now•e
�9011 and II eoup� ot <:Nlrvt 11rd c81'11or opotalOnl. Atld ot 0011110 lhe
poopao 14) ltitrt in front Cl lht �utors ì'l 111•<:cnlrot room. MCI ,o
ffèi@rll <:11&(f)a N'.-e droriped dramaitlealt,-.
Oll Lct'S tait ebcU! ti!� bolles �, htro. How tongarc mey eitaelly?
About 40 klut.
Eveiy slnfc coo ot tMm ?
No, thOro an:i l!lllo 20 roOl CO!'lt&iOOfS a.nd theso C>Jbic oncs °'o, thCWo 11((1
45 l'y 45.
Andwhat'atit:"�tobtintl!(lf'II?
\\�I. 8f\'lhing you can lhlnk cl, ffllm iays &rd soll gt>Ods to t.-:1ronie
il'ilrns ... jusl abo11t ar,,thinsyou cen fi'ld ha l'lQusof'lcld.
O.K. S:> tt!I mo what bappen.s e�wherl an aiqicrt&.r aends a ecntalnor
lO lhO potL
An 811t11,>11 b0K ii 1!1opi:od off lrf ti� k:rry . IJ111n 5*=ki,d up &nel t»E-,11rgd to
thC stadi: arca b>f as1111dd1C e91'1'\oc A.Iter 11\at 1rs loaocd onto thc- vcseet by
a 011w1 bili ill 8 Pf.rtiCtJar Or'ck:tr wo C811 thl kled l!O!fJ'lnca. Th8rs
cr-:erm1fled by our <:omputNsystem. T� proces:s tor dìsdìarçlog&vt'S-$C-I
iSjost UV. fllYOr!llO.
AndwMM iS thiS par!iCtllar VOi.1901 Nlldì'lg ICI'?
This ls a Creel:: &h p bel.l'Id forHoog l(cng.
And wllat's .-i tl\o!!o pertk:I.Jar oon:11irors?
\\'ol. l'm llfraid I caift Id you boCIIIJS(> fnlnlt( I oodt kno.,,·. Gonorally won.
me oorN ot 1t..e atilpdon"I tno- N .
Andwncn ttlC cor taif'Wlt ro9Chc-s ll S trttinatiM?
Tluu, irs k�d,ul on»a tr\.lc':k and liìbln rowhiìt""" CH'I bòndi:ld llfllf1131'. ti
SlifJS :heft t« two'M.'c-b U'ltl i g:ics tt-tcugt, cus1oms i"qlcctlon end
lhOn d� wll bo p11id on I!.
I SIIA. So can you ttll mo &PS)t3u'natoly'lllNlt il '#Oukl COSI to $hif) ,:)l'XI� to
Hc-. Kong h cne ofthflse 40 fotX bUJ(es?
\\'ll-1. lht basie rato at lht momonr iS mut $1,!IOO. thars abOtll !1,000.
bui tl'e! <:al'l 1i$t amt 11111 sha, p� aooordì'lg to .si..iFlyancl do1�1wt And
toon there ani ac1dltlonal loos tot handli'lganddocul'OQntatloo.
And so, I l'm a be(. bow
iS ilgoing to ta� fl'A> top to llotlg Kong?
\\'Q<:1!11 thl!f thit 1011t11 iim1t. Ytil/1" p1gt>b1ton ti� bMt lo, 11bnu1 r-.,.
......
io-.
• I 800.• MiehllOIWO'to OUI al tin» SO INl'lkSWI)' M<JCh fo, tlltking IO llS.
Dcn'l mfJnlion iL
Telephonòng: Business to business
(828)
.. OJsttrner Sernce IIB(lf'lt. Tho<is SN{Jpir/J
4dam Gtimm, h!4()61 En-,inHrirrg
.. Good mt11r.ng. Theris .Wppitte. Ho. ean I IIOlp)'(lu?
• Goocl mc,ring. 1rs M�e-, ffl,plwf'l,f. , .,.,.,,• oonsianmantot son�;,.
qlflOOt'ln& oq�ipmam tflat has to bo som » Houstoll � tht tamst rou•.
ira supposta ro bt in lhtStaio tr, 11'.o sP.toonth of a.tarch at tllO lat0s1.
.. \\'herg •1e you shippif18 from, sir?
• Our cornpa,v ls in Bralntroo.
.. OK. Tll:lfl )'OU1 j)Orl ol origi!lwould bo Folx11� You !l&j yo111 c»:saina!iOn
is Ho11l1ton. 15 ttl{II Hou.�\Qn, �.as,in thlJ U.$.?
ll»!ll's tlght
.. \\'l:1-1, thO lif'M ol traM11 trom fillill,OW(l fo lb.1Stnnis 18 d;tp. TM >1r..tll)'iS
11:!IMliB Ftl�stowe Qn M:,reh )'f. Thi,i should �;içh Ho1.ston <Wl Mord'I 21 11,
• Ah, rm alnlid thal'S too IIIIO•
.. \\'Ql'MI navo anoclltnvHOI- 101's
tners tht fndNNof- to11V1ng•
'NIN:lk to-dlr(, on 1'1lbru11iy 21 .,, lfYQ ur c;on,!gm111ntis on ti,.,( thll, i(II 19,1çh
Houston<inM!td'I Il"'.
*·
Audloscrlpts
Il 11'611 w(wu\-1 W()ll- nl\ Wl)\m Mwt <u)(ll <tooìotili,bQt')ot('llfH)rll l�b lt will
re�I� special hmdllng Could you gt.-e us some ro,ccmmi;,ndJt:Uls est:>
00N 1t !hOuld 00 pack(!d!
.. \\'ol. �al�W•JO(')(')tl'IIIIO!ld pi!ddi!l.g MMA!ial� lii» p(#/Sf)'!Onll.
IY.)lyurothane foan or a,-loone.
• 01:.. Coijdyou (t.Oll mt a rato pkla.,o?
• ltet's $5,.tO w 11201001 s1a.nd8t!I eontaÌ'ltr an:i $8!10 ror a 40 1001 1111-­
p,.tpos. COOlill'l<I.
a fu�. OI\ � andono lestquC!Won. WMI � ot <IOCufl'�tatiOn amI
goirtglu n11od!
• Yotfll re,.q!Are a Blot Ladirc, Cl!'nirbK--ol °'1gln. a packl� 1.&. tOO
COO\mo(Cial ifWOi!O. and)"<'»' inM1111� potq,. You can f,11dclotaibd
irlt1r1Nlion M'ltll., alof lhi• on 1>111 'M!.ll!li� -w.lMlff4/tipflitle.ct,n'I
G!eal And htwf co I book?
• You do lhat on ciJt w11bs1• 100 ... onot yct/W, eroar»d an aoeOU'lt. you'II
t!to 1:>o •blo lo l•Jd<
tllipmont.
• Fant awc. Thanbwrytnueh for U-. lrtormatJon. n1 hiM a took at your
w.."beito enci 9)1 ll&ck I<> you.
• 1-hPW lo bluillwlp.
"°"''
... \\bi. , _11 lhiiì�i,\t, ,.,.,�I ,..,. Ad,',�
T�)"ro � gcod t�ro, b;it I t!M! to wam you - the umb.'\il r ls \'cry hot
.. T!'.l 93mbhat?
TIW'S thll ssue.. TQll l'!VI, Ur Finn.a1oy<1uinl�iltd in. t11mpkls M Ml?
., \\U actuelly, rm not real� ln:ohìUo,y. ldid'All'II to d'o ,cmo ahOppi.og
WhilO l'm t:oto. � wr-owanii:.a IN to brlngback tornt .tilt.
1'11 1\3'4 fk GllOSl'I show you ef'OUl!I SOtl'$ g00d st'IOps. HO COr.A!I tattyou
10 the market tom:irrow alter our meeting, WQuld you lb tnetl
• Yes, l'd IOW'.l to.
• Àh •• l!llfU C:Urllli!S OUI food.
" Mrmi -· ttiS la � tesi)'.
Small talk: Saying
� l) P•t• 49, Llerclse 5
I:
l) Pap •9, EHrd•• J
li>
•
•
•
.,
•
91,
•
91,
•
.,
•
91,
•
.,
•
.,
•
.,
•
the right thing
e Ai$h0k GM&h, /J!fOJyS(MU
-., COtln F.in
Helb, my n.;ne ls Cclln Fiin I ha.ie an appointm.ent ,,,;m Mr Ko:nar9Nami
;,t 11 q'cJock,
Ah yes, 1h F111n. •m .\$l'lok Cìhosh, Assistant IAlnajlerQf t h e 8PO unit
Very plea!iE'd » neetyou. Mt Kumarswami lsOOlained at t� mq,m.nt end
l'el � me to show YoU arourd whill? 'l(Jl/'9 w,i!ina;.
on. lh•t's fine. Nce tomr.,et )'01.L
OxiycuhM ag>od f!'int. Vr Firn?
Wel. lhe $1:!niice N'1S YetY&Qcxi.Wt I musi w,, tliet\l MfflJ tu te lns 1111d
lesslepm in eoor.orrr1c1Jss these d*I$,
I see. Md are yoJ satisfud w!th the l'IO!el!
Oh. if& f,}ntastiç. Ouite l1t,1:llf<100,
Gwl Se ple.iwoorre this "''ll'f,
i
Ttìaie qu te II pbceyouha,<e here.
YH, we'reveryp'Qudol c1,11çarmius, A$you C8(l M, lhne are k.11:lof
emenlies l'or theern�s - re.sivar1t:5.a health club and - �s you eee
o:e< there - ewr a g:ilf <:O\l'W. ls thls yc,ur first v.sit IO Indi.i?
we-.ao.ualy.1bac�l).d:JJd thlOl.lih lndi,11 'Z5yea" ago..,,tien I
a
studem. But Mrythhghas �ltòd oo ml.di since lt'en tbat I feel l'm n a
dtferent CQuntl)'. lt lsmy fht trP to 8aogaklre.
Yes, 8an11,1� is�ty boorning al the rnoment. lA;J( I ast wlle11 you're
from ili 8rit.ain. Wr Fim?
Actuely, rmorlgjtell)• fn:m n>laind but r•;e beet'I in tondon fot the last fEW
yeers. AM ycura(fl /ve )'OU from Banpqref
on. no. n:it 't1f a bng &hoc. r mPunjabl actually, frorn Bon.pf.
on. u--ars very irtereGtlng Andhow- longhò'te yc,u been .it r.fos,·srsrm?
l've been lle-:11 lo - aboot fNe )'8<11"$ l'tc1/lf - sir<:e I did my MBA
..
Whew ,_ 1t certa1.1y t>w,rmer than I expacted _
Lef& steplmo tm ca"eter.a end l'-M- sorr..etlli'lg IO dnnt
Th;Jt's a tfilliMt i:leal
I doriI h
t nk Mr Kumars.W3miwill be longoo,.·. Le- ioo �"'°hmaqlJ.d:.n.ng
on hs ce!I phcwle.
Small talk:
wa,
Saying the right thing
• s...,�, Kumnwami, lrloo�s
., Colinfinn
91, Wol, IA1 Kurnan�m� lhi$ iS c•t:aiin>, • r-antasfie 11s1au1at11.
I iffll:Jgil'IJ 'l'JU'111 f.lmi'i;,, with lndi1m fQQd, Mr F'ir1n. bi,.( p\lqjw do f$k f y:,iu
('(!,C)dhelpwlth W ironu.
1'8
Soni Kuma.i,w.am.i, IJll'i)SySf41m
., CAllin Finn
Mr Firl'I. it'& been a pleassn hwing Y'O'J <lt:/rics)'$femJ. I <I> hopewe've
been able to pro.ilde youwllh all the lrillfl"l'latlOnyqu ooed.
• Y@s, �<:el'tain" h.we-. M.r lwmal'$'V,\lmt tl's bee-n a V8fY ftuitfut viK Ano
the'* you SQ 11".UCh for yox hcspitality,
lt 'Na$04' Plill$Ul9, o;,.� lìeot ttlP'(b to )'OUI wile. Anc J )'()U IHl\'lit fff(
more QIAl,tiom-
Good....
$mail talk: Saying
the right thing
Unit 6
Listening: Production and its
Il''
management
• Rallo prMntet
• Pl'd J.lartin Schmidl
HollO and W41!1COl'I\(> to lht program. Wilh MO in 1l'IO stu:liO Dnight ia
FroMsw Mlll'lin Sd1midl, 'fisiling l)mlllSSO..- rrom Gotmar,.who is
C\ffll� teachi'lg • thè un�l'f Qf Cape faM'I. He • goog 10 t8'1i: 10 u,
abou1 roeont dlWo-kl�moma In producllon S>J9tofM.
Protos!IOr SCM'lidl yOu 819 r,o,n II country'Wtlich thoM,1:1 ad1ritOS r-0,
ltswo:t ethle end t, �OJ thHrt tcchnole>W. ProdJctsMede {ff
GettnSl"f 11ro high� VJil\lOO &nd your coun.try is awOfld �ort eharnpiot1.
Sowaa,a l'Qllllf tiait lhtil you c:ould li�wilh ut Mnighl.
" Tllankyou.
N:'l'N, 11$ a fll-g,.tla( flOWSpaJWI( l'Oftl»r, I hM rol.l'ld lhal lhO S$IJO OI
l)n)CIU!1ion ha� eomn up in tl'le pttss. ts lt'is becaut.it SOvlh Africa ,s so
tar ttttay trom IN world'sbuslnua c.t1r&rsor ha, lht to�les!m� gone
Otst 01 tas�lon?
., OormiMy ree. Pro:luc:tiQn m1n1ns c:11111Cng va!uu, 11ddì1g v11lu 10 1,..111,illll.
wnk.h IHhc 6'0utec<il a n .ndMdu.o.t• 4"ld «>e;�ty'-6pro•p,c-Aty. lnt.o(.t, tl'IC
l'U'l1bor O! fitli!.hod prcducts has nwc>f !»'()c!Q boon highar.Mlrjtl�
ptlXbdion ha� tn(Mld II hil <'.IUl Df 1� l'n111lighl hlr.�u� cl 1A(',11t1I U1:Jiling
in�tloos sucbas thO ir'ltctnct. blJt V4C Shot!ICkft for#I lt'at rT, fìnMcing,
IOgJSti-::s., tnartoting and 90 on only suppOl'I tl!O act Ili erAa"ing:....._ whit:b
is i:roduCli:>n
I aoo. I aludilt:I manai,:i,mont In h l9BOa. whQn e11.timati'o,,,,.,u fhO bu2Z
W-Onl. Whlll 113$ CNflS!}d Si1'00 trlQn?
., \\'91, r
:,11 y11,ttsVR bula"'lld th11t 1r,;,;lir19s, 1obo(sttnd itlfu11rali0n i.tchm,,qy
woukl mama 1ac10ry run on iU o,,in. we talb:l:I ab:iu1 conocpu ltc
tlltlìp.W1-illlDSrll11'.!d lmìnulactmìig ard IN S().C&IOd,,._lll'lw'lr:li.'S t&GIO' y. 811?
lhllw 1e,:flnical l'J'$1$mt1 1119 VPry CX)mp5c;.,<.irf Nlll twd 10 � 1.:9<:au.,;i:,
OlQ)' aro P,Ol'IO IO btoatCD....... 'fttlieh <:Osta IO,,: &l'd IO<IUC:OpfO:lll:!Mt)•.
SO, 11boi.i 15 b ?O yo11rs llgo'A'O hoaid abtlul:. Mw itxa talllld�att
m.,n1Jf#Ct.urinz, wtiic" i, bi,t111d on ttie r�,., P!od,Jclir,n,S)-$(�M. We leomt
U111l li 1s J1t1-i pll!l!lll!kt w produc:• prtX111tl11111111 w,y ttl'fl:llml -y, ,,.,m1
�u�nii: quelity anctVOty !ihOrt IOld t,MOS. This is at:h-<IY@d. ror OJtami,it.
by Midi-ig whel TQW11 ç.allJ � - o, m'.lfh n J11,p11111w,wlrich •nNns
geiting rld ot aetr.itie!swtoch cbn't acld vah� to che pr:>dutt.
Rigtll COuldyou �p\!i'l lhis ,n a lido mc::rù dOta:t?
,- Certalnty. wc d.istrlgi.ish tx-?weenw.-et'I catc-go�s cfwa�e:
O\'C-rf)foducti()O\'ll'&SUI,wait.ttg Yl9Sb:!-, innspotteitioo wa�. pt�s:sing
wasto., wu10<1r l'l'(ll!On, il'Mll'llc.)'W1Sto N'ld 'Ml!lll from pmtiit:111:1:ktcls. I
wOIJkl 88)' e11::ildng p!Oduct <IC!fects is of ll'lt' utmost k'nportanoe. beceuse
cktl'Je.ont f)f'Oduet qua'ity anctangin tt:• sut1,�ill Of lhO onllro oompe,y.
Sul il'l'\pre-.•ir'lg pR:idUCt 11,Jaliry 11qur.s �Mmonts fn thO
l!lJII
&•
perlcrmanc»<ll tl'leworUorce, of tne rnacilhiry, <:f l:he memoda. 01
nroona1icnar.d !O On. I n tac; IHn �roauctlon is a MW approach ro
lnllrlflgllnlllr(, a charqp in t».h�io, ntlt11;11 11t11n in »chrlélù&r,
• H8YC' t�ro boon anyd,ttleùt�s In too impt-mcntattin 01 iean pro�tlon ,n
W�14:rn oompan�?
,- Sufll. Al thA bclghnins mos1 al us IOOk 1110 1cirm li:ri,a!IJ, � lt!ar1
faL Sooompana g c t rid ofk'!Yels
m�s fil *"<I beai�. withOU!
ot hktrarchi aml'.)l�ing as tow poopkl es po..ullit. t'I ctòor ro i�ro...o
proru.
w� dk1n'1 see ttut le!an ma.n111acti.Jr1ongls a dlhoiem way et thlnldng,
You soo, if'I lhO \\'l)st v,,o 41'0 l'.)rims� rosult-<lrWM: sewl\8:1 iS itnportant is
lhi und tllSUI••, hi1111n. lh1t (t,QJJ ÌI$ (In lha l'tl.Xlillll . Theybq!ilM:I il' )'QU
tnpro.,e tro work jlf'O:Ciaes, ìmpr<Jil/C tOO mac::hlnesand tnc wort.crs. thls
will auXltr'lllti�llyli)&d 10 botlQI' fOSult:s.
• 'llhatdo you mean l>J krp'c..-1.1tgthew«An!
t I.lati)' rypos cl wa� eennot bo ldontlltd � usìngooiwontiOl"lal pf'80'tlCeS..
huc wHlolf'ftJSI ba i»nririod boclltasa il i!I • soorM <11 bssts ._ il dl'Mls uj)
manufac:11..ri'lgcom.You aee. 11 reducdcn In mani.lactll'lngc0$!S <JI 10.\
metans a doublìng ot tht pr<ld! margln. ArlJ•'hO kno-,.-s bHt wtioro tht
lifOCOSSOS CSfl bO in'll)ro�cf? lr$ !ho 'A1)fbH. I IO k nows lhis 18( bOIUI< ll'lllf'l
af'IY llne man•r o, tngloeer. Tllere.fort }'O
' U r.ood to lnvoM� ttlt wOtl<ll'B,
lltlt this �e,.; rosint.:-ns� tra..f'ttlg so ll'lat �,canac4,1 ro s;,ooisi Sk•ls,
sueh as flWl*il'nidi:tn!ifll':Mion a,�I p:oL>klm !diifl&, con,fnunica:ing
�ffcc::� andw�ln a team. Al&O thC)' ooC<I to be able toopera�
d iftol'lnt machinos so !Nit ll'IOycan bo 111iod fl'V)((> lloliibfy.
In •�,a� otlO can say r.Mc rae1oiywoll:Of'S Mka on �h mllM
tespcnsibW)• In thNJObS than lhlPJ u!éd 11>. So. a f8C1oryw0ftercl 10day
ila <:cm,:wo.,- dttotont po-rson eompan:td to his « Mr conoap trcm tilt
1970s. IwOllkl Sty I hllt wo arowi:no-wilig • nwolution 1a.br'lg � on 1110
ahOptloor .
llcw in10rcs1itlg! A llnal qui:-si:lon: tilliningwofl:X!f.str(lans a h�f:l
ffl.s:1niirt 011 tlm pélrt o! lho<Xll'!IPft'TY. �:m' t ll1i11<:onnidwith 1h11 •hiltt
Sf'ld flrc· aP9roacb 'Atiicll iS no� taktn Ly Amcrlcan companios lf'l
timos d a YMHib ooono�
.. lellMOl"l'll*'liU Ilo iò]ml\\'OUICll'IO! Mn und&f$laf'ld Ulisque.s;iOn,
On!
t In thlt \\'OSI lhO icloa i! NOI IO in...os.1 f'I pooplO so lh8! it ISOMIO< 10 tnako
11�m 1q<h,nditnL AJlil)lll'IQW C011tp11rv �d llQWI bg al.Ilo le.Iundi>tttfln:.I
th.sway et ttlinklng. ro� il I m�11n pc,opl(', I lll.M.l a succesarui
sys»m whlCh hal,ps 1to oo pofloonb�ttor in tho m•k<IL 01 eour.1�. ttioro is
lii) gu"NlnlAQ ltull llu!n(l(lml)l'rill!IW,J Ml l1t01111;-y flltlb�ms bit lhl)' IIIN
m� robus( w� ctl!lngcs In th��occur. t<ira 18kc tM throo
tugist A«.riean autot'l'M'lfi>A COfl"Plll'•U- w11 den"I OYOt'l kMw il th,Qo/1
sliltAisl in ll'le l'l9l:lr l\llU:'9. Tek• TWf}tlcn lhe Olhl!I hMII - ttlty ba'9
bllcomt tflll 'Allfld's lllr&)st ear manutactuf'llr 11M I wOUld atg\ll lhllt thls
h/19 totn aChiowCI ltltoug'I ioan thinking.
..--,
- olthoUJCh 1119 U,S. ç11r ind1111llyhHY.'Orbid quii. ll,!d tQ od�pl tlti
açp,03Ch ot mn manutaeta'!ng?
.. Svio. tllll)· kl'K.wwtu'II lo do. kt. I fol1,� 511J'.»nhì thi11 Olàfl1h'tg. ttio
loflll)riC� c;r manuf;:,cll)'l:lt; � lll(;:,at1wh111 I.o do. �I � hMn'I
ena� OOC8'J!lll> lheo/ .. l'IOI atib to cnang>. In to�·swOl'ld, <:ompankls
aro lormd lo lld11p1 Mnl111nlly, boc:111• p1oduc:i11nt-,cb:111tt bclt:omil'lg
$hOltfr llr.:I $horter-. M3Chi'le$ .-.:I m11ctinor, ore Jl li col'4tllnl �tote of
ckll,,olopm.nt: lntormation l\'.Nls a.'t hcroaSing. to maneg,mon11s
bOCOlritlg l'nO(O OOffll'.lliC8tod Tll81'S whyvou nood to staft IIIJlting
diff1:1r;nlt)•, •c::ilg dilierontly, imp�l'lK prooe11Ms. in','(11\·ingpeoi:le,
«c.�.,.
Th&rs lOJrmc. Tha:11: you,'1)1y 1nuch, P,orcmo, Sd1rn.:IL lt w&$ li p.1c,&$u10
to newycu. Good�.
., Wdl {hanl: ycu fer MM'tg mc he!ro.
Presentations: Presenting a product
P•g• sa, Ean:ISII 2 end 3
Mate lyol'$, s,.s,efl(�SMII� (()( LOII/XOPS
la� and gentl4fflen, here it ls. the �,new editiOll ci the LO laptop.
A.v,airl QICp.tlt:$ from betti acoòemia ind in:lu:stry �·e don, theirveiy bm
to ere�.»�&talHlf-1:h?--art �arhng tool - a llf)top for cl ilci"en indeYelOJ!ing
<:oontnestt.tlng h the mos. rerno::t and d41)ffi'ed en,,11crmenb. Let ll'e start by
ovtlininc ibl m11in f�n111Wt1s,
tt oomes Wth .i liqlid-cry&td di&pliJ)' &::ieen d 7,5 inl:M& and, ,uolution
d 1.200 by 900 pixels.
� �ly cleloar feat\11to$ ;:,1e tlie two di&pl;:,y mode$. Yoo c.:,n \Mitch from ti
normai full-color mo� to a hi�&Olution bladt and'Atlite mo�.whidl i$
ldeat for readlrrg Ì'I tright aunl(ght
A$ Wll al blow, powe, i& anis&ue il d.Netoping arN$, so lhe LO is
eq._.,pedwith a red\arge,;i� batlery. lf there i& no e�triCC)' crta·"'-k>. the LO
ç;m bt soltr or tooe pcwerod. Al lhe ume lirm thi laQlql's P(JWilr
COt"l$tJ�tion is ell�ll'.Et, b<r, R:r eomple. i!s blJttef)• wil l!ist up to 2• h0u1&
if 1he �P<O? is o�y used fo1 �acfn&
Sowh;:,t JJbolA its (...-içt,On�flie�
�OOUl'$E! lhe com:,umeonriecls 8.)S:ly 1.i lhe internel via w;Fi bi.li l there
i&n o inie-root avaì1able, t ls poo&ible ,o ccfl'm.llicate wire.'�ssly in the
c la&sroom cli.I o;;>a, m,i$h nebt,'Qrk,whiçh i& 1n in$lanl, $Jel',.ç<:rll&1.1r;:,ting
ne..'WCrk. So �il$canccrn1TF.1nic.i» inelan by òoin,:collaborat._-e ,:,!ne$s
uslng dr,Mng prograln$ or wetd protefling lt al&O concain, stereo speakera,
on in1»m11I microi:hol'W3 ond., iitegr;:,�dvidlt� c.111119ra.
M:litiona'ly, as l'm demonstr•tina heie. the toJJl,op has flexible hingNso il
eon pr1Nid& tl'téi! fmetioM: stlld:.rd lilllfOI) liso.e-bcok 11adi\garid g�ng.
lel me nqw focus on tnl:I rn0$l crucill poi:11. JJnd lh<1t is the 1;,ptop', phfsic.i
$1)dications, becoose aftet all h WiJ$ de$igrl@d forctlilchn, So it 01.1g,it noe t<i
be big. hea,y, fragile. ugty, dangerous or Ooll In olt'erwotds: apl)earan.ce aM
dlr.llbìlitr ;:ire ....iry im11ortont.
M yoo cen 8el!' iu �ign is petfea tor kids. tt is about the size cd a
textbook. h ""�wis jUl!t '1/ef a tao. so irslid'ler th.an a ltlchbox. lls colora
llle so brighi th11t kid5wi!l lo,,oe it. fustN tlle'J "1/ed itsp,edltoeMe<. The
l:'.e'jt,oatd is 1&<11ed Wlh • 1ul:t>ef.membfane end ttr.e touc�pad i& eourawide to
f1'\oke tJr;;y;ing and 'M'itk'lg pouible.
As \1$1Uol rot,Js!.N1$$ is or the highe$1 pric;fitY $0 the LO i, dust.prool,
completely sealed am ctrop.proo1.
lo put 1t In a ra.1uhtlt t's a t11.fyu'l.q� laçtop. 1t's<:ltea1>, it's ftelll�. ir$
PQ'M:lr�ffl.ient am dur.,Ne. In ocherwtH'ds: il$ l'IP&cificatien& 3ef\'e ;:ili me
rec;urernents f.or ttle e-ducational purposes d eroorgirg nations.
Thank )'OU Yel)' much fo, btenlng tormy.
Unit 7
Listening: Passing the buck
Pago 65, EufCISII I lnd 2
• Christ.inO
• Riehard
t OK gv,'S - Jus.: look at t�se- sa�s liguw. CM SIIYfbo<t/explainwi..rs
gclngon hete?
• IOon't i.nderstand iL We know11e g<it the prcduct rigl!t. CoolRt is the fn.
btand of jeans to U68 masa customiza:ion. Fai, thh. big bottom. &mali
bllttCfl\ no boltom, -you nam;i lt -ar.ybody lool:S gra11t 1n tl'..em. We 11$8
$1.JHf.tl-Et art technolotf ill!d thir('ie stit affotdable,
., Anclyel tne)''re a flop. Sornebcdy h.wf't been dolrg their ,omewot1c.
• Wa!t a mlnu:e. we got the �arget group, .,tdldn'twe? Wedlc ourmartet
researc:h. We usecl SAl!VE'V& and fo::oo group&un:il W$ WHi surewe had an
unbeaiable feat\l'e - guaranie4d lit Wt had a look at Ml)' poulble
149
Audloscnpts
..
•
•
•
..
dOl"tlClgapllie gerJp aod lhclil wa!lts aod roocliL sowo idoflrlicad �ns ar..d
t<o�rqsomethhp. Md t..cro wc are. Somaytic U'iC' mes� Ju$1 waaf'ft
rcaeh ing lbc! COflSUm!'(iL
Righi, you\<O jl-1� pas.50-d thll !ludi.
Ylhat do�oo me&I\ tro men,ge wesn't reachi'lgthe consurrera? Wc ran a
ran.taallc adYOrti1ct1gc*llpaign on prim
.. 1�0 •kNiSion ooast re coas:1. lri.
oom.mo«ials COS( us an atm and a IO&- \\'t bftc:tod 111is 11p•·ill\ bill>Oards
• nd oolebrty end()l"88ments. Wl'lat mor& oouk1 we ha'lt done?
s�� mo the detail!t YW«} paid 10 knOl'II· 111111 uiis 8t'l groop<1oesn·1
wlltch cx,1i11n0olc.Ns a r, iyrnc.ù. In raci. tbQy 11i1jQcl ad;GJli:lingbyj'.>11.
Of OCW1('� ll'lON tlùsbut ali tl'le at.ema!NC mcthOds aro veryris:I:)',
whieh tn:H1ns th0-.:1nno 81Jaram� d sueeo.!i:S. So il )'Oli wam HIOS fOieblO
,111fi'llir.� ro,tAt il. ll's j11s1 umafsti:-_
lwa'lt msults. Anlfnotleka. YJe ,rweatod a fortuno in lb,,oto,ilog this
proc1let and putti� rt on1ht ma!Dt And 1h0 co.-npotit.lOf'l is C'-"IYoaL
wo1t you çartt M\9 )'Ol.lr ca\o and o« it too. 11\oard et>cut tliS SIJf wM
organlzeudc.airpalgris b)'word-or,moutf!. Ho's one or t!lt b-aPst f!layers
in thO promol!On buSil'IOSs. 110oould gwo usa kM' id«'ls al>Out al0Hna11,,o
m�rl:ali•lil 111o11 hods 111..J t11II: lu usaboul U11:1i1 11Uix:tiW1now trnl iisl:s.
I!woueln't t.,rt lt sorneooo pua l.i3 in thC i:-c�.
Yoah abight GO< li.'11 ();0f l'IOfl) ASAP.
ri:::tiOllal cha1aC10rs and th111 IIKI)'woro dct...ok:pod as t•t d an on!iòl:I
compu:et" g.arnc., and b) amounclng ltlat the g.a,oo canorfl/ 00 pb)'ed lf ll'c
partielf)«'lts got lhC proc,,rc1ictiminc:6tion rw.imbclr ffom a pwol CodRfjeans,
'lfhdl ft'IOIIM IMI !IWl'j hlfvO ICI visi.! a 5'IOp. \','o'II 1111'11� TV commorc� IIM
tt.c ra:l..:i spot ooyfot about fNe dqs booauk' tOO rosi ée: � by the
OOMUl'l'IOf'S thrqh cotr'lff'U'licarinn in thO no::, b.11 IO spo,o:1 rhe f)fOOOSS up a
�u,. wt'ro t�inli'\t Of emr.to)'.t11 so.ea11tcs buU agorrs as'MI H .
So lhe Idea ls thai at th& erd af tllltearnpa!gri flllo-el)'t!oely lno!.I' targtt
gro�Wll tlC �alklngabout mc cb;(!( ai,.·ettiSing and cooacquemt{ abou-t
CodF.'l jrWl11$. Ttumk yw.
Pres�ntations· Reaehing your audience
, Page 69, Eun:IN 4
lel mi 1'11# hiafll(glli the �,rna points ol this conoepL In otherWQrct;, wey are
•,•,e so sure lhat a carn;,.tlgn usingWlJI m.i��ngwl WOR: thi$ ti�t
�I� first af atl we'II be alje to tart'l about 90Sof th.e trendsetters fl the
jeans&eRmeont.
Of ocu<ae y,:,u'II be enxious to kncrNW\at the ristu�. let me .s:su,eyou
ù-919 a11th&rd'r ""' ti$!:$ nt<llved bec.iu� U111 OOSl3 •Aill t,e,-el)' ltJW,And
m01t i1111orta11t if il turns outth•t thl:I <:af!'ll)<lijp'I isn't H sucoessflJI ;,s
E!,lCJ!ecied,we can call it off and nobodywil h.rJe e,,,er notced thit i: was us
'lfftQ prodlJoed lhu&e �ill:K,11 in lhe fir�t ph:n;e. An;I, rTIII,.,, C<Jsts wi11 be
absolitaly mMimiJt
So. 10 put bina nUlS�twe areexpe«ir.ga lw9? respome IO thb
Cll"llilW\ �h ll"IJ 1esult lhat YQII' j}..wis wil 1"'11 up ti> thei' naff'lll,
Thanb foryc...-tiM?. NONthe-n. m .,,."" wilh '"" que-.s:i:lnsyoo INJf hò'-e,
Presentations: Reaching your audience
Bob $pence< &m Htdd
Hi, eve,rybodf,
for thosewho clcn't 'know me: ff\' f'lclme is Bo!:> Spenoer and l'm the
CINl;.,edirector ol Bllll W<:r1d. 8va Wcrldis onto ol lhe imaller promotion
,IJ!r.cin WI we hoYe become w;ry �ul in 1h111111.t ol uncol'Nentioni:11
trarl<t!ting $.4)1X)rt,
f m W1fj NPP'f ti) bé hete wit1\ you tb ri,eHtit 011 f,t(lpOs.al for � rrlNt
C� �ti$inge11mp11ia,'I beoaU$e I t.t,-.il:yov h•'e (l;r.lelcped • $Uperl)
prcduc:t. ti f.ict the whola agency is real� &rA!Miootic abovt li"@ �et of
vfottklgon dtls carn�lgn.
OK. lei me 1Ne)'OU an ifl!.t çftA·hat l'm&l)iiJI IO �lk.aboot.
Fnt l'H sum up'A·hat has been done $0 far at )'Ot1r enrJ •nd the resutls. rn
also rutlne the rN:SOns I beliei..ewhy)'(lU' advertJSirg campelgn ma/ not ha'.e
been11owcce1nr,J,
Then rl com.i to � main pcint o f Utis presentatlon, •Mfch is cur
aMrtls,hg conce-pt
J.nd ,,..,,., ru poi'lt (l\11the .......,i.s ot ou1 <Xll'I08Pi
Thi$will tal:e abtlut ten minutes. Tt-.m there'il be time for <iO?stioos, And
a�erwardsl'II ex.pia In � ooocept inde-talL wllicl\ asyou can irna�ne. may
� a little lon1:1r, Ri0\t. Le($ !itJlt Your jeallS a-e s.late-of-the--.Jrt ...
Presentations: Reaching your audience
&Qb Spencec. Sua Hwfd
.-.O, l'�lft. ,.lll lulil -wh•I e.-. a,n l'lb'Atl'J!f�t:,au?
We'd sugge� a mk;l\Q ef vir;!III m11,1te�i'lgmeMU:nwittl a Wlt<lost d
con.-onttwial ad\-ortding.
VIO'Wì Optl>d tor a toi...�� camf)aia,t
Fi'st 11(Qp, w11'U p:od-Jw;, i,io Qf ull,1a kM·�t,tg,gl �dw <.fiis;, Now, 1118:111
tiIme w orft show your pro�t end 'A'On't rn-Jieatl lha th's iS ad'.Mls1ng, I he
Vlt»c'lef wil sh:M' 11lrcto diftcu111'11 �OU1ig t11ilf1 a,'KI w�n'AhO aro Onj:)p'lg
lhafffl!J.....S. file keyi$ th:,i th1;1 'lirle<)<I willoçk "9fY .-�..-i11h.
Setoond,.,,-0·112ap thOso ..ioocs toabout 200.C<IO ir'i'llomialyOll'lgadults
trom II li.1t d'o\'ftbSlri:11!1""'1lthwo'U f'll'tl"liclo.
Third, Wi'l1 W<Jt ,ooght:, 0119 montti ro, "'8 build-upof thi bJa.- H:,w is lhi$
dono? Vory �I)'« mo l'OC(l'lklnts ot 1h0 wsoo e,_,, 'Mli slK'ld t,_.rn to tboit
tnOni:ls an:1I1ioywa sond lhQtn 10 lhOir rnOnds, o-ie. so ;,ioy gol tbrt bai! «iifirg.
Thgn - 111t1 tli, is lhe eic.<iting SlllP - .iflil1 , mor1t11 or so Wi'II do Il TV 11r.d
tacliOadr.>Ctbsing bltz, a) �alng rnst D'IO th10c>'fidoochan!Ctcl'S �,e
150
Bcb Spoooor. 8uo Wor!d
r
-
Presentations: Preparing slides
Pia:• 60, �trclw 2
rm ncw going 10 lum to TV alt\>Ottoing, T1tllWdionis a mod.um thai 'A-.·-... al
gro"M'I �w'itl\ and'tWIW all l»&n e,q:osed to� beliel.-e lt or not .. mlllbns ot
oomrrotoials duringoot l..os. W. C81'1 ell 900 O'lo 86.lanta@PS Cf this modlcm.
�YO!i wi1l1 tho&<1von1of uio '1l011)(1(. il is S!ill tho<lonthì&òl �dium inm0$1
hOusc-nOldsand pro11laes goodmass-martctlng �.
f-lCWC'.'C-t, 1el0v1Sion has seme Cllide-nt <lrawbects. Md lharswhat l'd !ike t::>
fr.0.111 nn h111P. \\'Il 11II kna# lh11t II r.ikrvision 00m.t11111ci11I <"'.«1 bi! a.,ormously
tirro 001l$1.11'1ing al\de-)((K'ns� to 11Ute-. Proru::lnga good T\'ad roqu,1M
SOip! wtitMS, eetol'S aoo IIJ11'141di!Cf'S andis otMll'IOl'!J!l'iNtd i:, 1111 ac,,•1Wtiwl&
IIJJl'ICy. A J0.3e«ll'ld commerei11I cosis at11Jt,-er1191 or S33lOOOon pt'ime-611\o
TV, and tt1en:;ou NMtIO pay fot lt8Ch 3Checoncts of adWtrtlslrc eime. That
ean oasitf amourw: to $300,000 0(0\/00 mn, d0ptnd1ng upo11 ti. popl.ierlty
of 11'111 prog,t1rn. Sl(IU in �a<i,H�.'J, fc11t.ei:1n1j$,. et* as m�ch 11:1
!160,000; a Jl»eeondSll:)ton too S�r 8orwlcanocst up 102.� mllcn.
AOO of OOUI 90 Mn an lllq)Otliiiw spot boootnl:S d&tod sooro-r Of l&ll>I, and
11-"n it Mli Il'> ha upd11�d. 'Mth 111 11,Q 1A.1ulliog pr01funlic:m oasls.
Atr.l so,°'"'" ilyou llnd tn-n�d ad matcrs and in.,e,st 1M m 011Cy,you may
di�l1'�t 111111 )"Ouf Ml;,., :wind..�d ;n.,,.._111 a thrttotti'll othlllt ""1'l!......:.i•,
anl'IOtll\Cl8fflelV:S end ptOtnOl)ons. AII et this ect'8f1isingis vet) en11o,,,;ng to
WtwGrs boeause I! i'ltom.pts tlllt trograms rhc,ywant toa and In tho long
IOll'n il CM O<l'OftCl'Oato a loc O! hOtlility. lft mo •nd. ycur tar9n g,TlUP mav own
tGjlx;t lhe tlllt-MIIP)'OU w.ru ltying lo pul tlQ'OSS..
Yo.i ln"'f h� lrM::!slf!'d ler� sum,s 1n ormr to roaehyour IV &Jcle-noo, bu-t
h:'>rrN ca11 y,:>u b1>su10 Uiat yoo lun-o roally 'roadod' all !hC!IO poqikl? Thal's a
purefy t�re6cal11mje,nç1J. Tliw m�· be doong in fr(lnl or I� TV $9(, Thir,
may ti.Ho»« lhO tOOOl to � to 100 b8lhr'Oof1\. lherf ma-, talco aòlMtag.oof lhel
()('lffifl"Oreiat h'> 11p llfootld lho t.MnM� IO fird OUI wh&I ol:5• is on. o, lhcly
h0\19 recoroed l1le p,og,im on o TiV04tyle 0\/R \lllnd sm�ly $kip ltle
oomrroreials. I ha, moans thai )'011 cannot 90loet lht consumors youwi9h tG
oomn-unieatt wilfl and 1hal Of lht mi!liOM )Ou te.•t itrmtoct. a lot ol lho
mQ!lll)' mitf si"rn�· bi:! w111118d.
Whars !ho ifl!mll1'? lodaywl) r'Olld iì Ol1W awoach lo to'2Yh1ion
�slng. !ust bombardng th(''/ièY<('rs ls no !Ortger enough. wc now twewe t>
Cf'IP&" 11'..cir attCO!JOn 8nd provi'Ja oon.10n1 thai is in1erc-soog. 11sic,t.J and
anfCl(!ff'lit'lg, n<ltybo!t)' h'lshlWltd ti IAlldiSlll'IA•,lll'lul\. 1h..8Wh�O lho
twat1quert,m1 of a11 trie tilged a•nc:les 11sed lo 00 IOcalr!d. Thtml i8enot�r
ktas wotl,kroM'l stnMl:t.. in HoUy,,.'004 cauornia, ·Mlld'I d eour• 1, l'flO capitai
Cf tl\O ercorteinn'IO"I u'IClustl')•, cal*I v-. ll'IO NW a1-'trtiSi"8 approacri ls
'fttlat mar.mUH'$cal '1.ladlson ar.dVhe', whtch rmans tllat aaven:lslrc ard
errt«tai\m«1t aro bc!lrc �,� 10 tireek lhro11gll 11'\C! dui11,r aro reach tfl('
con�mn,u with 1111W, lingllging 1r.:,sw�1,
Unlt a
e
Listening: The debt trap
&fb.lra. /1,idioprr.:scmr
e IAaloorn 0311�. Sl11d!Mt' Urlion
• Ken Ne.-, $r/Jdcm 1t M� tmi.-crsilY
'lleloome to our c�nl,c programffl(' McMy �Jld m«e on CHI , your IOCal
1&'Jò S11lCiOOs� ttiere a,e o,t, a coupl(' of woot$ahead oofo� the rr::w 1.1n�1y
yoar Slarla. M
stl tno,,.,, tuiticn tou h thl:t UK. •• on thO (190 end
turrlll'ltly a1and at atm.ll"ld (3,000 a yQM. matingi.t Wty oitpafWt'a 110 goto
"'°
11rwenlt}·. AM thant, 10 lhe Cll8d� crurdl, student Ile ls ge.tt.,gewn
toughllr.
Wilh fnlt in tho sl\ldil) 10t1ight ia Malco.\'n 08\'i:lt. llOad OI aoeiaJ pOlicy
at the NatlOnal Students· �lcn and Ken !IN"� sooor.dyear student at
Middlc-sbcrcygh Unh-ctu)'. li git/S. groat 10 ha\-c bolh d yo11 hero.
llol�B111b11a.
Kcn, yoo�-cro just telll'lgrne bc>fo� _. Y<('nt on a� that )'1lU canvMcty
l'OMOrnl:Mtr )'Curtlr81 )'11&1'111 uni, -..·hlH'l you w«o lryiog lo g;>I to giips·.-i:h
y<iur rnanco.s,, istft !hai tigllt?
Yean, ttie fntyearwu ,eal�lougl\ I must �.
1041 UI a litt!O bil 8!l0ul il
WGlt r.111 �hin& soomod so 11�. My p,,omshad a1111n91<1 a ban 111ith
ourbark. 'Mlleh &hOuld hM CCM!A!d ali mt lvlnge;q,oo�s. I wsa INCO
<!nlitbcl t> a &ovtt't'l'IIClll-bactod grani IO c�r thO tu1tion �a. 8u.t 1hc-n,
11:ì I wld �,111 h1-.i!n:id11ar mi'lel 'ltN"f rrom my pauwt:i prnl4':l ion. lhA
1:<anh root trv.l aora fide.
'hhat doyou t'l'WlM? YJhal happoOAd?
You SOfl. you neod lOOPt.fl a011m1n1 l!IOCCUIIIas a stuatn1 and tMc'swllM
lht bankS 9n you Apa11rorn otte-Mgyou an tindsctITM gifts 111»-..-eb
<:afM ot a st11don1 raileard, ltlOy also g11111 you a11 iOOtrt91-ttoo o,,,ord'alt
r110lt,QI' up 10 (3,000.
•�a
•
•
t
•
8ut road lh(' srna!I prhl! Bec8US(! I ycucxooodyo11r CM!f'lhtt lim.t.
lhOy chatgo )'OU 11\lllfOSI 81 OJCf 28$ and po(l&lfy IOOS or 14) IO C.25 �'0,1)'
lirnP )'OU flltQMld il.
GoSh 1t1ars q..Jte trigritcning. isn·t it? I h� lhat dooan·t hapf)C(I 10 t'lO
m..., 1 1«11* M, MIOCllfni,yuu look lkll you h1t.,. 11 p!ll!C ICHnllbl.
• Yes. 1,, ma e<>:I stmelhin& l\tt'&. Tlle!e isbth.1a1.,- o 1NfdDnge1 tf\otyou wlll
•oeodyour CMlt'lt'att bocauso mott ol thlso accoirira offlilr a troo cfQClt
card. 11 iSYO<'(OOfflOl"lio:nt 10 U9ù a crOdit caro, so l»l'ottyo11 itil� it you
�ne in th� red, Yc;u hf\19 IO bi# \IVI)' areriJ.
• Ycan. tllat happc,ood to 11".t-. W1lh-n throo months I haa e»:ec-clod my
-O«trd, &Il laélily. I tuHIOd 110 H'f j'lllr(lll!ll (Cf hOrp. bui 1.htly WO:fo,tI wilillg riO
119'1 çul �nd j11111 � th11l I hl:id 10 IQI.* ;:iflar n,-S4f rrom now on.
So I MndGd tl'l)'trodt caro b9Cl ro 1h0 ber't: in orde( 10 �op ll<!ing
l,:tnpll'ld And fhMI 111.0d IO llnd a jnb.
lh11t sound$1ik&, �n$ibl9 <leciSil)I\ Ken. OidYoU tnll� IOpt a job
(ll.ldfy?
• No, it l)(l)IIOd 1eat11 dil'fietdt, MostjOlls ot1 campus� Il) Sb.idorn wllO e<o
in ;hei"r wc;<ir.d � thirdye.1. $0 11$ o fres,hl,1 I htltJ IO look 11lw#llii.11e. Bui
bceausoal 11tO jOb vacantie!s at uni'M!fc tamn up aoquckty, I wasn' l abb
°""
cb!IO 10 campus. AACI bocau� I don'l lì.'HO a ca. and çl.tllk:
to lll'd
il"ll'lsport was rather limlted, 1wasn't ab� to tll'ld a joe.
Sowhat dd ycu<lo?
• I C\.C driwn onrnyoxpons1111- hwasn'I oaa,,, b.11 I gol i.I all work11d e-.c 1n IN
....
lhats gocd MalCO'm, ac thO Slucktl'II union ooyou flnd a I« 01 studllnta in
Simile< stualions to �n?
e Yea. 0111t& 8 tot of studHIE8 Mn IO llS'A'hen tk.'f ftncl lhat tlW!ycan't llandle
!hOirflNflCff.
Sowhot lklyllu 1�i:U111,nund tlu,irn t-O 00 in-011tH lo »:il cor11Jol 1N,11 lhllil
�endl�ag.aln?
• Wo asi: tll(!m to d!lM up i budgllt platl.
How iho,4tfyou gti l!b:'IUI IMI?
• You make a lcSt ol 1111 your sources of!neome and sei 1l!ls sgalflat a list of
al! 110ms l.hat r-,u nciod t, gol 11WOugll a l)'Pleal .....wtk. O'I tht o,.. hand, �
&r,'es vou en iON or hOw much mQl14'f 1s a,,11il&'*> rtuvou !O spo.nct on lhll
OO'IOr handyou can soo «oct� 'llt.icti lrtms yeu cculd CUI down on. trs
quto a 9implo 000001'.)G:, bui p<,!Onlial\' ..,,uy ot1ocb..o.
a Yo.,. lhiii bud&,,ling 11111(hl.ld 1-.;i!�d,na II lut lo �> a lighl euntrul on Il\'
nrerocs.. &/ too W':f/, )'OU CEfl li.l'Id t.Q,r.p�s Of a bu•: pian on the ,��t
Good a�k:1>. l.HCf'tmlU>t,' wi:ho-011 .t or 1ilno 11ow1>'H hM IO linflh horo.
So MalcOl'n and ren,. tnart:)'Ouvety mllCh for com'Wlgln to(DJ and P,lng
U S)'Olll' thOtiglllS -·
•• • lhantsa lOL
fotmote on to�·s o::plc. '41sltOU'website a. -.chJ.�mOOl!t·•Nlrrtore
and that'S all on,, WOf'l:I. lhllflt you'II tk'ld a budfU pta11nor 10 Mlpyou &M
all lhe&O $'.lf'OCit:us 1)0(llliOS! NOXI Ol'I CHI, rny<:Oloagl!O Ml.fa·-
Negotiating: Achieving a good deal
Il' Deborah 8�r
MarlOl'IWrif'II. &t* lltMS!r
He{lo Miss SeGser. Marton 'Hrigtlt Nice to n-...et )'QU,
• N,c.e IO meet you, l.4r Wrigtit.
Co..-ne tri,i$�y. PIJ<l$8 l'o.•e• se.it.
.. Thanl:)'OU,
• Ho-N,ycu IOld me on the pho� tha!yol/re plaming IO in� a aim of
arctr1tJ !200,000 - i s lhlt righlf
• Yea. il is.
Sowhat .n )'Our irr.-estrnent ob;a,ctNes? I meon. what do)'OUW.t:'lt IO
Jlll'e$tf:,fl
,. W�l l'd lii«! t> start mllking pl'(ll,'iS. ons for retnmenl
�tAs yo�buslne,ss ls fai1y 0/!li, I gati'ler. a more caUUOU$ approath IO
im.-estrnem rniaht be �st. 't't11.it doyou th.nk?
., That &eunds good tome.
What Iwould rocoir.mend 1$ hm::lng in a uri tru8l. i,r eitaflllle In the
bal;:inoed fuiv:I Comt�rGroMrh.A& vo11 can S11?e l'ere. up 10 251,re &hn
funda. iiw.sting SI UK ocmp,M.s; \Il 10 25'areintemalional l'unds.
ir,-es.tlni In comparie s In the US.. Japan andthe emer.P',� martetr. ar.d I.IP
IO 30t; ;,re UK. &eYernment bordund ltle m1 are money � l'\l'ld$.
,. Hrn. ir<arHting. What lire the conclilionst
W«J. tl'..e�·, an illtt'al dlaf# of 1.Sland ayear� ma11ag.ementtee of
1.25.\on the im,eslit!d .iroount Andvou need a safi custoc:tf .icco1.1n1.
where)'OUrfunds, sewities. etc. can be heki
" Do I haw IO pay for lh!lt 8S v.ellf
Erm ... )e., theu'e cunoey CNll'f.l'• are l12. ç5 annu.ily,
• The$e funds incu ClQ.1e a IGt of cO<Sta. don't ycu thiflt? In lhe end n end up
Wltl'I no re.11m
• Oh. no. I ilS$U'e you t�is 'A'Orll OO�pen. Out fund rr;,nagenwitl m.ik& suie
d il I.et fl"e shOKyou OOKthe funti has performed. Oesp:e the recent
flnancial cri86 !N$fuM shows 1111 a�ra� annJal growttl rJ l.J.�tHer tt..:­
las.1 fi..9 ve,ar& And cornpared to other prod�. ltis is a qt.ite remartable
perlonnanoe.
151
Audioacrlpts
• Y�. ICilò SOi) thll! bui I WOlldil'lwa:'!I IO il'Ml$l 1r.o,o lhflòC.150.000 in
sueh a fund.
lhat'a roasonablQ.
• \\'Cli ••• /IO_ YoNII Clln)'OII Ollll(IT"IQ rtir 1M IAt'llll!na'lg f.50,000?
� UN fflCl $9St a l"ìlced dt'po.slt account lt'aW!ry �aS)' IO mainaa,.
• lht 1ntt1t1111 1a1osat0c1irr11t1lly .-wnd 3\- ooo biw fo,my ras.10, rd�.
NI). I agrot, llu1 il you wa11 bighoi roturn� you'll t!tt,,O a highOt (ISk al'ld IH:s
liqUlcllty.
• t ktlew,. b.11 l'm not 1n1erosma .,,. cOf'M'IOdll.ies ot ClmlOOf TUll.d'Ca.
• OK. �t alX11Jl c01nnÌllrch1! p&p01 llwn? I oout, crru-; you Mit:io=iort 111kl
un,t-\�rfor �ampie. lh!-)'llll kHt l'lal:, ll(f.tid and Wr a h!gll yleld. lttc
8\'0ra�yiOti at Lho motnM'I is ,.21 rof a Ido spanol 1tw"oo mootht.
• And a,o tM111 no hidd!NI rcw:is?
\\\'!I. rm SOO)' te say that )'Ou wlll ha"" to pey a oom-Wssion of O.� oo thO
lw:it val1111 boeauso wo buy tho papor trom a btd::ior whO<:harg.s us,, too.
• V,Ok. ycur banl.: ha, boon ffl/ priocipol b0t* $it'ICt tM bqginnirc and ,o ra,
thls arranpmtr11 has au.t&d botti 01 us v.<1\ 90 I thilt:you sJ1cuel I»
Ol'tor"hgmo bOtlllr <Xlnditr.ona.
• OK, I11w yom poinl.. I C()Uld ,udu� the cornmolSion ro, tllt111ntlrui11I l-'111"'
.o O. IS�.
.. Allight, l>Jt òffJ UOOQ.f Il'» condètion thai I g>t IN> safil cu�lody a00ùt.tl1 lo.
froo and lla< t h e tee fOf managing tt'C "1h trust is rc�d. too.
� Hm.··- Y.'01 ... OK �-1 thnt I OOtJd malo an0oop«lonand'A'8tio 1M
tt.11!1ng a:':cou,v; Cl'la�s. 1M M fat as thotMnaf:UTIQnl loo is ooncornod I
ceri'! g::, beblt 1.2�. l'm atrald. b&cause thls ChertJ! i:U"eady
dscoun:od.
.,. l'm !On')' bui 111an not gOOd <N'lough.
• A.lrlg�t ... Whòt do you OO'ie In mhd. tten?
.. 15'?
a OK - U'K, bui leHMuiy' �i118nkliQ you thi:1 fOI lh!IWI )"'81:I
•
.,. Th8fa tloo. So I lhht w<- l'la'l�e ooaL
• YIM!, 11 IOOl:S lkll ,t O!(, ,umo si.tnm&r!NI 'M\81 wo\<Ct agrotd upon ..
Unit 9
Listening: Spider and starfish
organizations
,, Pap 85, Eaereise 2
UC41 rpt f rom thli book r,,. StMmh Md th• Spid,K: tiM Uristopp,,bl•
l'tow«- o/LHdtrl•$$ Orpr,JzRlotl$
Leta tate a quid< bck at twooppOGite s<fStems. Ce.ntrali!:edand
deo&ntr.111ad. A centutbd ora,,riz:;:ition G eaq to undar$tn1 Thin' ( of art(
rnajorcompa,yor gwenwnental ai,ncy. You 118\\? a ck-ar lea�r whta in
charge tnd trere's a specffic pl&oo .,,here deeltions • made (t� boerdroom.
lhe COfPl!r.t� �6:lunra. city h.ill.) t{evins<:11lll th� 01priutional t)•pe
coen::iw beuuse tha leooffli ca1 ct)e 5hocs: wt;en a CEO fw'ff )'OU. yOl/re OIA.
'llhen Cortés Ol'dered hls arn-,, to mol'd\ the)' marehed. The Spanl&h, Aztec:s
and lncM were al oentralit:ed 01 ooen::M:I. Althoud'I it ;ounds li� &0methi11J
outof a A.ussian gulag• coercil.-e systemis not neoeswri�bad. 'Hhetlle-a­
'j'Cl/rc a Spanlsh #IW!ral, an Alte-e leaoor or a CEO� a r-«t!ft 500oofl'l)a,y.
'ftU u:;ecomJT"iYIO-an<kontrol to kllep on:ler inyouroq,.rization. to ma� il
efficellt and to functioo from di/ to da,. P,ies Med to 00 set and enf'On::ed. or
the s:,,,r:mcollepses. For hr1anoo. whenyo,,J ge.: on en alrpla�.)'OU had
betteit hope ira, coerci.-e ry.$Wffl, You oortaiN(don't want !Ohl'l$OII from seat
29J IO decide tllat rigti; about ncw is a good time to land, No, lotll\SCl'I l'Eeds
m sit 'Jtle-1\' ande�oy tte m:Mewhlle tl'le oapuln - and ori/ me captaln has the aiuthotil)' 10 niate decisions t o ernure thai the pt.lf'I!! flies propefli
Oeoentral�d �ste.-ns, on the oti'ler hand. ara a fttl? trick:ter to
unOO.'$UOd. In a dccentr9!ìzcd organlzadon. tticre·, ooc�ar leaoot no
hiefarclrf and no headqu�rters. !f andwtien a le�erdoes etneri?, tnat person
tas littlc power CMir OChefl.. Tlle 0041 tha� pereon cancb to lnfl.ienoe peo� 1s
152
IO k>ad bytruimpb. NQyhiil Cl!IIS 111is &1\ opoo �Sbll'll, boc&u!e Ml"JOf'IO is
f
c,ntlUed to mal:e tìs or her o-,,,n CIOCISl::flt. Thlsdoost l mcan tbat a
dccoo11&lwd -91/911'.ltn • tho � as enaretly. TOOfll aio rules &tld oorms, bUI
1ho» arc11l'1 IH'lfor(.!Od � lll'rf o!'WI flOr'llM. Ra:Mf, 1M po.,,-,v is di!òtrihulOd
a.mong 81 lM peo� el\CI acros.s !J!Ograptilc reglons. llaslcetly. there's no
r41noeh1ill&I\ ancl r,o Monw11ma.
Sul wl!hOUI a llM!tlU!na, IIOw dOyou ll&d! lflSlo&J od a Chirill. ltlO
ApachUhad a Nanren. a splM!.-a1a n d culMal ieaoor. Thè 11anran led�
�arn� end held no coerc� po,,oc: lribo mM'l�rs fOIONl!d mo NanrMs
bui:au!Q 11111)' wa1'teld !O, IIOI b�uw IhQy hll:I C(>. a.111 ol IIIG ll'KISI h1n10US
Nant'an, ,n 1\1=".t.oty wu Gcronmo, whO dl:ffil!Scd hlS l)e091C a&at'lsl thC
Al'Mricanlo«.os lct doc::ados. Gcroni!'l'I) flQ\IOf' comm11tKIOd an at� Ra:h11<,
M hi'MAlf ,11ulllitd r1gNing, and 11\'Af')'nno arcund him j(linA(I in. Tl'A id�a �,
·1f GoronilW) is taUigM'II&. m8)1>e t's a gooo IOOa. Gofotllmo'S ooen rl�t In
tho pasr, !IO I! matos •nso to nght aklngsicb hitn.· Youwann>d 10 tcllow
G910!'kfflol You tol!Owod Goronil'nO. You ddn't want 11> lo113w lliml Thqnyeu
didn't. fllet powerlay wlth each in�ual. you v.o1e tr• to cb .,.."8,t :,oo
wantod. I� �ra» j'OU sho-Jki- ooosn'tO\IOl"I Olei� in I.ho Apaehe lall('Al}P,
C<)vfi:ion i:I II fur.iigfl conc.ipL
I� •�anrens�rc orueial to tne \11,l;!II bciog Of thls open s,,stcm. but
dQeot11ta.U&ti00 Slocts 111010 thanju�t toadi:tisti.-. Docau:10 11:010 w&!I no
capltal and no ce<1tra ocmrrund pos:, the Apech!> dcclsloniwere made àl
O.OHM �Iseo. At81d on a Spanlatl 91Kdlfl'lllf1L fOf(l)(�b. could bo
concoWod inono placo, otp'li10d in anoihor, andcarfiod oul in 'Jil anolhOr.
You nwe-rtnew whete ttie Apachts WOOkl be corrlng from. !n o.._ sena&, tbere
w-as no plctotwrio,. important OOelsi:lnswtAt made., &.l'Id !ti anolhOr Hnso,
CIOcislons wOcù madO � �MK',bOdyMiy.--h:l,o.
On In( lmpres;.lon, Jt may soU'ld l1ke tM Apaooo, �re loose-1-iooseyend
dirotganimd. Inroaity, howc,,-cr, lhc.,,·NC� anactvanccd and sophr,slica�o
sociQly - il'sju:11 1hat a cbcan11ali1odo1g,ì1ìiì'.afii0n iS 11 001npkl«lt/ clfflirom
creature.. Hevlns cxplall'IC'd th8! llt(' ll'ti!s cl a decet'IUallzed society ft:!xbilq,
al!a!'Od pa,,,'Clr, afl"biguity - mado ChO ApaclVts immuM IO attaetathal v.auld
hai$ dQSUO)'lild a C411'1b'ali7.lld SOcioly.
Meetings: Acting as the chair
Page 90, E)(erelse J
M&rg&ret Pe-rry, ti
O Saftdtiattt& Peny
,r,
Good momil& Mryboctf, e.in we&e t 1tlrted?
nice to M you .ili Ile
11. I
k.now thac yodve trMlled 9ong distancee to Ulke part in this meeting and I
hcpe that 'PI jet lag lan't too &Mire. l\,e �d )'OU 10 001'1\? to our
h:'11dquar;el$ to di$C.'UlilS our rti$tructur«lg pian$ inS1e11d d using 011 u$U111
aeleconferenong proceeklre becaust, g;;e.n tlle importance of the 1$.S1.1!1,
peB0Mo,9enon lnteractiGn rSvltal rm afrald I have to apobgize for Anita
Gupta. He1 plariew.isdelJ(ed 11 Mumooi due to the rnonooOl'l. bUI: $he moulo
be #fMng la-.er t:iday.
As )'Oli can aee. rrtJ penonal asals::arn Suun Oue6t wll be ta'l:Sng the
mirMH, I think we con t,:;>eçl tlli1 fnt w$$ion ltl take ur..til luncf'l ac 1 p,m.
We'II bi? b:eating f-or cofl'ee a1ound 1 1 o'ctock,
OK I dtlnl:you're ali famll<1.,,ith che at,,nda, as Susan t.ent l out tie\-eral
.,,...,.
l.klfortuna:.e�.we'I h.Y1e to sl:ip tlte first rtam. .s SteV..n Afden is m. We11
etartwi:h a tmf report frorn each of !Ile reg,«1111 vlce--prc�ldoots. Yce fang.
you Ila� the tim,,st rnarl(gt O\'er theie in Cbna. Could"'� gweyou th.ifbor
_?
Meetings: Acting as the chair
IA<lgaret Perry
>, Clyde Ellls
� JorgKr3,rer
• Fem.rndo Gonz�
• Igor Smimo.•
• Yee Fang
, Antl tt/#rtl lil:o te.e.omo to1tioc0n1ral iktmetl tflO -,onda. fhis es ourilfan
ros akJbfl 1es1Jur;Cu�.
•
ti•
•
•
•
•
•
sorry, c,111111 I hi..,oyeu1 iittonliO(l jlDE!rio! Tll(lro ....m bO ptoniyo111mo
fnr 'fC� (IUCEtlons and ccmroonts lat.e-r. M )'Oli kOON, since 198Sw�·ye
boot'I op()c'81ing using our ictonal structllfo. CaehOtlC!: cl you vieo..
prA$i:IIW'l!fl l'las haon in CMr• ol his or hAJ CJNndNision and l'Af)Oflif'C
dlrect� to- me. Hcrv.e'.t!-c, In �oonlye&-Sd..�IOpmC!nll ,n N!'N markets have
lld usto bolOYO tb:at thd dosigr, is Simply not lltllSblO onougti lcr tod.v'fl
d)·namiC Mnus oiwircM'IOf'IL FOt 11'.at r.&$0n n-. bOar'lJ has d>eidtd «>
hlpte,me-nt a rad�
new dul&n clmpror;t tl!e- speeò of ope:anone. Yit.
.
ncw want to il'ltrocllJ!O GIIUS • thell il to S2", gciMtal tusinHs unu.
wti:h ""'11118 miwitl bCI llfp'lilins iu p1(lduc1 S11PJ*1 �· piotluc::t <:itlilgury
rat�r t:han ty !J'Ogra?h',. llyou I00k at thC' handout, y oucan $00 that In
liii> ro-'Nfl!rUClll(ù tll>ro ar'O SMt'l fl/M ••
P!Cla�, l'm. s.:irry, hu! I dlldt llM lnf Mt:Mlil'f 101 !ho rHIN(llming _
Igor. �ast IOt tA�rgare1 tlnlsh -·
rm .,.,im lgOr. I don'! HO IN poitt in a MN crg)'lnttation ortt10r. ltio prOS11:nt
struc:uro has i»on wati11& p;rfetl� wou.
No. you'ro 'M'O� aboot lOOl.S00\1 cl\•lslons nwell run end otNIBare not
Atoyou �lyil'lg thai somo cl us aronoc doing our jOb?
I 1.ni!ile lt"i$ 11$ ti<klfh,:;;1, qUll�ÌCII\ t.b111111tt l:ul I d01"1 °I qui:ll 1Kl9'/ll'hlltlt
wcfro �re oo be comng I nwith <ht tK'W structuro.
Coutl I StJ&lPill th&t wowail u'lbl Atli1a &ffMl!Ì rn dil9Cu� lhiS? •·s such 111\
hlportart lssu(' that I< Shouldn"l be deaftwlthwt.l'IO!Jl her.
JJtlghl. OOUd I ha..o your aao-11tìon pktaso? 1 blow an otycu hM a ....tuablo
oorwribulion 10 mai.:.. tors f!kO 11 by 1urn1. Y110 Fang, I bolKI\• you t111d a
qu&stlon ·� &l'Ida'ter lhal 'Ne'II hear from Igor_
•
•
e
8
•
•
Meetings: Acting as the chair
Page 90, flterclse $
Well I thinkwe'Wt w;ered çuite t lol of 18fritOI)' l'or today; Tor� bfiE,fly ...
w11\'t h.,d a look M thé neworg;,l'liz.,lional &!ign .,nd ltNnk M\'&d�rwd
th.Jt the ,__ $1,ucl:l.l'e wi'I p� us wilh much mo1e Rexiblity• .,d
hopefull)', higherprofCS, We'wi iJso talced abou! your new roles. .ind I think
that all OCyou are satlsf�d tta thM wil be an important � for each ot y<iu
in tlle sbWlUie.
M to the n?X.t meedng. I thirk Y,"f shOIJd &ee each ottler agan aroond th.>
Riddle of nextyear IO chcusa the progreuwe·re!Tllt.ing. Susa-.wi1 be f'I
touchwth youon tlu1t. Well, il's been • lol\C d..-,, bvl I tflinkwe've
acoompr$heda lot. rd lil:e to close the officiai part d out me-e!iig. I tnow
you'ni, al tired. but \\ll've boobxl a table ala fantasticfuh restaurant� rm
looti11& forwt1rd to h;,vl"ll 6n"Hwithyou,
tt's frte now, l'Ye otd� a li'Tlousine to pic:t you up .ityr;u ho<el at se,,ren.
And $0, see )'OU !h$ Ml'lhfJ
•
•
•
•
•
a
Unit 10
•
8
Listening: The world after Enron
f'11g_• 971
Ell•n:••• 1 •nd
�,O:l11111t flllttu11, R/ldtJpr:!'Mlr�
• Grts: w,1� Con'���
• Jarwit PureOll NN.IOfla1 kNletr'f f(Jf�
l
Gcodmornin3- This is M�haet Be-merrof ThclGm.bwn. Eve,ybodf
iernembers ttle oollapse of Em:Jn. es11ecl� �ince il wa,s followed � OV\el
equat� un�Mble bJi.ness scand31s. 8ut how�t� has Il eh�d the
accou,tingprol'essiont O,.. coneapondeni Gieg Walb?r talked to Jonet
Purcel. hNd cl the NatioNIAcaé,emy for Accountancy ,nd profenor of
acCOU'ltlngat Wllrne,r..e Un>,,e,!Sot)',
• Or Puroell. tell U$ what the f<llloul frcm the &lroo$<::<lnd.JI ha,s been.
• Er.ror, ot,.ioo�y 1hrew the wMle aooooo�ng profe.ssion in10a cr1:Sfa.
A.oooootancyused �bea re<-9ected protcssioo •11b� pollced ltsell For
mfflt deOKles th,11 seemed t\'lwcrk but in tl",e, 1990s cornpanies ca.me
u�r ineteaSlrc ptMsure to prcduce consisk>ntly rislllg e8ff'tl\P an:I
slòCt p1ieo1t, !Od th&l fil0$1'JIOW&fl Pf.SSOd cb.'ffl IO at00ul'IIW\ls8!ld !O
aual:ors. for a wti.11! ar.er ffl'M. <he prdc$UOn loti the crodbllty that lt
on� had.
So in wh.!11ways eanaeco.1nJlll'lli eodt tlMI bookll"l
WclL th(!{t are rurret"ous opportun.tìes tor fraud. A.cecuntantscan roocrd
salls hOOl'l'VI ror pl'Od.Jet.t#ldMl\ioos thai ha...:1 noi hfitn sokl, rooord
tx90f'IStS thai haYO noi t>een i"le�110ll l'.ootlS gai11$ thaiwm fl(Obablf noi
be tta'-�dand a as In theeaae al ENM .. net record loe!<et. lfle)'can
abo fa I co tteof'd nl'g31� man::trs � shoukl b� diflclO�d <1r mai»
roiilolltlin8 dstlosui�t.
Andwhal WH lt 8bot.l! !l'ltJII ffl81 80 S,� lh� publC.!!boul th('
aecou!'llìtlgptofC'Mion?
WIII� -'CCtlrtlf18 fO pulllit AXp111:IMÌCll'I� l!lutlilari lll'Q suppo•d 10 flA
wOfkil'lg In tbe ptlblic inrmsl as thèwaletdop thM ul'ICO'Nfreud and In
fact lhOy'ro l:lg.al� hablil tortn1uc1 il Mgl19mco ean bo pra.-on. And SO)'Cu
hatl ll'ls v8f'IO!ablC> old aocoun111gfin'n, A,l!'l.tfA�. tl'li Of u-..
SOoCaled b.g tt.-., 't.fllchac.lr.OCI tona..- miSsed glarlng lr�gularitltsl n
fNOll't boo kS . WCr90)'41t. lhCll'O scofnCKI tol>O a cklar co1111a o l it'l»rou,
11s Andersiw •n 11.'bso w1,·"'i l:Q a oom1..d1i,n1 to frNCJfl. n� moi1t shudt i1&
lhng•'8s that �n Jt oocamHlt>ar thai th�SOC was IMlatì'lga'l
ir',;Qstigr11i0nag11inill fty()(l,Af'N»SM ot11pl0jllot irl OffiCO!: 8CIOS!'I 1h11
ocunby were R;eJlt bu!y 1'1111!t and �-!hredding o.•er a toc'I d Ewon «et.
Gcodoos!if Tl'il big fMl aCCOtJnli� flrms had atMlfS 11111iS1.td flflcrts cc
ttJorm 11\o prclt.stllllf'I. Rul Mtor t1141 scandM il bllcatno it11po,ss-b� IO do�
thai the- protesslcn'IW8S In need of reg:11atton. What'a Mppenetl $11'1Ce the-n?
fflt � all !00!'0 was 1M Sarbef'Wla.Q:r(»,' Aci. wtlieh Wl'IS signOO IMO lawil'I
2002. sax. as il•·as callOd,. INOs a company's ccoand CfO po�na�
ro;pcnslb� for t:he ecc11raey « ttletlnenclal staternents. llalso aol up a
001o· rcgiJa:o,ybo«d. � PCAOR.wilh brcacl jl(l�rsOYCr CPA nrms ::ha!
au1!i1 p_,blie bm1iltluos. And tNs bo111d put 11r1111,n:l lò lhrl lllal rOlo thaia
ICI of CPA funs uscd to �.rol\i"S as bo1h oonUants and audltors.
canyou 1»1i:,lan'Atlat -,,•aswt'Oflgwith lhal!
Wllll il°s Pllll'f tlllflf tor' an audiltl' 10 l:OhlrtO indlit4ndH1t� anct cri1ki10
tflll compa,y'saccourclngl'l'W!1h0d8 at t:l'le urne Cltré il .lepends ot1 t11e
ocmpa"f as • cliort klr its non.au!lltìlg sOMcts.
SOwhat has chlin@CI lor acoou111ants1
fcr oro tlllng. tl'le Sà< rogulatlom ha.t!- dnven up demend tor CA\s, and
ttcarsafarict. a; �Ml i'I thè US., as lt'OIO'fl mc<o work to 00 OOl'I�. bi.il
lml's r11SIA.Md in II rMI budltnfor sm11lku pulllie t:orr.p&..iJL Th11y h;a,,1110
$p(!nd lou of monc.y to oomptywi!h 1M reperti� s.1M:1ards .
I soo. C..wo sa,. allin al. thllt acc0u110'lg118s booot't'i>c!Nnor sinco fl'IOIIJ
W$1� :ht new r11t,1'\ali0(ls do fo100 con-..,aniti to be mott :Qui al>Ovl
,,_., bOOl::s, end tria ecl'l\liellon and lfl'prisoornetll o f oitllOJIMls lìka S1:lllrlg
and fasto.,.-lond te>di$00uta,> managonrrom pustil'lg th,f'CS100 tar.111.11
1h1.w lhlnp r...-1 in çyctas •nd lflgrg wil &t.vi,,s bo pc;11llCIM1Ui(is who'MII
soo )J!t ha• rar lhty ca, go.
()( Puf«II, wo'll hit.•oto lo&;(> l lhl:lt>. Ttlank you ""Y n1u::h toryo.,f lii?» ..
ThMlk you.
0
a
Talking about balance sheets: Using the
right terms
'r.
Paa, 98, Eloerclw 2
• SO. Jm, wc,·ro #)ing to 118...ca lOot et ero oompal\""fl most �Ml t:ala�
.
°
d"Qoùf.. iìll :hal il a srmpsho1 ola oornp&>.,. sfinli.!la!S ao
. d lh> baiwllyro
;11� ti oomp;,il\''$ r-,11110� hll;,illh.
• Wdl can )'l)u 11)'100,:plain it in �mplo totmsJ rm oot \'OI')' clU)(I 1n to
liii lhcr!WI rinantiM rn111t11ts.
Oh. il.'s • no-br;,Ìr'l9r, On the or,e Il�. we\ie gol thO $$$t:S. •q1 lhi
ccmpa,Vs gol • a:'ld on IN o!hOrl'lancl, our liaDU,llo.s .1hat 111 to Sa,', -,,tlat
woo.w.
.. Go(çti.,
153
Audloscnpts
•
•
•
•
•
•
•
•
t.ol's r-0cus-011 lhO cu,Of'lt yo&1. 11 you àdd up OUf eu,10nl S!&Qli.y(lu gol a
t:>tal ot SIOS m!ILOR.
OK. Just a 9CC- I undcmMd ca!S:h a'ICI c-Wl CQ!Jl-!&kHlts But what &fil"
!OCw'lfS toeO"ablt?
Thar.sa l\rl� aooo1; naig t(lrrn me-anlng lhe moroy c.-ed us by CYJr
customora - �tllch wo hll\• 10 wm. irwoioos tor.
Rigb.l. OK. 'lno"0'1'llOty isrtt a Pf®'otn. •·s Wh&I W>"° aot 111
W11reMuso · ­
l&fs go on IO ftiled assetti, atltlOIJ#I yol.ll not:lot..,. hi'Mtr(t ll�t&d tflOm u
a .sc,para" caicgory. ,��aro plani an:I maehillQI)' and land. WMn wc'Rl
c::alcu1&1rlgth11 ru-»d a"°':1, l'>'O Nl\,tfJ lodildui:t thu dùp1oci11oonc:0$tSfu,
plani end maehlneiy, s:tt:C!- � to9C' valoo <1/Cf tro yc,ara. Nc<ioo tltat we
&Wll)'SI.I� amirus !igi i n lrcnt cl lt!al UM\. Now ad:I pl&Ol and macl'iOory
wiltl lllnd IMll iiP-jll�ialk:fl IO Cu(rllfll HM.l!I l!l'ld )'0UWlf Il pnd 101111 of
$132mil101\
rmwlthyou.
Unde1 'liabilitio.s' '.W"WI a,1 thNM 111trris:: accounllS paya�. l&lCIOS payabit
anda llgu!t fur bonds wo·.,.. ,ssued.
Acoount11 pa-jM)IO musi t:o thO apposito er accounts l'OCliivab�.
Till!I' s IÌ#IL And Ihow lt-lgo i\Qtms «Id up IO $60 mlli(.)11,
C�ar eMugtl.
lhonoomos thuha,oho1dGnf oquily, i.o. what tl'él i!od:hoh:lofs havo
lrM?Eled h common stock. Tharu1so S60 miloo.
Jofll a IIOCOl'ld. �moll't>O-tldiiS art hisll:r). l'moot�ory eloar on comrron
9tGCk.
OK. There ate two tyl)es<if stoek • oonur.onand p,efened. Preferredatnck
gl,'ot &f*lnoli'»rs spodal rigt'lts • tor exan,,IO, 111ty can 8M!'rfS OOlloct
drlide>nchand I a ocmpa"' soos bankl'utt. ihoy aro pllid oll bOloro 1ho
o�r stocth<»ders.
I� oiher 1YflC iS OOt'l'lmon Sl:>Ck. SharthOl�-s with cof'M'lon stoek
htt.'o VOl,n.g right!I bui rOC'lOM> di.•i:lor11flì only il tho()Mllwty' stiows gpod
grow:h. 'Il� have l'l(Wr lssl.L"d p�1Cffl!d !!Oet beCau!CYo'C'� a rdattlf?:�
small cOl'l'lpaifY.
\'try ir'Uf'OSLl'lg, Atld ht!O'S 11� lati quostion: wMt dOoS t'OJllinod
eamlngs meen?
lhO&t aio lhO profltswow ioirMHtlld in tht company - $12 milon. lhat
g;. t$
• usa tol� 01 $72 mmon. lfy0u add stia1oh0ido1 oquity tocu fig.on>
ror llabilitu:is. you &Qt a tot.al ot$l32 millle<l,cr PH ttte ume u totaI
as9e1s. so 101111 asscts �I total lia!lilitk:s and !h.'ifOhd'dof'S' OQ11ily, aod
>111ilil, wo'va g<1111 pC'.lh.110 book t111lan:• sl•I.
Ho massadng iro tig.ures, VIJ!)'?
110 ma..uagiogd l:hl:t tig�r o ,. rm.,. hOl' it-M &000l.l'lt111,I!
°"'
Diplomacy: Breaking the bad news
Pap 1� Uercise 11
Conwrutlon 1
•
•
•
•
•
•
e
•
•
•
•
•
•
•
154
• kthn Ligl1Uoocl, �P
• susan carter, StnithHo/m$u/ld wareN.ed
Hi. Suun I vnde-tltandyou•1'lted t:i talk tome. Do come in.
Tha!V<l. t've p 1:imethi113 impc1.an110di.SC1.lsa with you,
Please slt Ckl'lm.Can I offef you a OJP of ooffee?
Ho. 1N111k11, I don't drink ooffee.
WelL Susa!\ jusi:wh;,t was il '/OUWtintedto ta1: to ,re abcut?
Jolu'I. rm aad to uy lhat 'o\>e'\-e �n tevkr11lng yo11r firooeial statarents for
the kut ye,11 -1nd.and there a-e a nurrbef' of figum that dorft �d up,
Oh. �atlf?
Yeia.. Tue ligi.re loreairnlngs lii not supponed t.y the other docOO'lenb we'-.e
Nclooceuto,
That's ff!pouble, k waa aver, goodyear. \\'e all kno'N that,
ne fguresc In ttoe finarclel ataterr.ena te!Ia <lltfe-ent itof)'.
AAd $Ov.hat are )'OU lrying to teU rnJl That v.--e\-e been cookintt!'w! t.ooh?
Well somebc<tf oOlid ha...e tieen delbetatelr rNnipoliting the numllei'$ or,
In the bestceae acen:1r1c., lt'a a mlstòl:e.
Ard $OV.tiat'& ti"!$ clam•t
You're golng to hM t:i te$tllte your fina�I report
• Nc:>wa�·. Do )'Ou know wt'Bl lhiS d()Os 10 a companfscrOdbilly? Y/Juìrl
happcn 10 OUl&tOCk prlct-?
• 81.t )'()J\i(: �rSlacC<lyoor C3!l'lln8$ � 81 �Ht $S mL11on.
• li'lfol\ '11111 ...ouldri'1 ht ti. onlj ttnvti� lhll'li a I ttkl otf in il!I aooounts.
And ycu sh01.1U remember thatwe·ye boe-ne d.ént ot Smi'111Hdmesant1
W�lo,alOr.gtimt.
• Al'ICI SHW hH IlVOI)' Slriol oodO 01 COl'llt.Jel
• AM lf we refust to <IO a rMtatetnent!
• Iron I '#Ould c>.qiresun 6:1...e.u opil' lion oo yoouta�ts.
Diplomacy: Breaking the bad news
• Ja,hò I igfllft<ld, G�n
P11g• t<>Oi U:erc:lse1 2 1nd 3,
• Sosan Carter. Sm,rh Hdmes ,tifi W11ers/led
Coiwe raation 2
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
H� Sus;,n I under.;t;:md )'(lu•·,nle(I to talk to m&. Do OO!l'e in.
Th.iMS. rrn poo ycu cOt.td arra� tirr.e to s.ee me.
Please &lt dO>lln C3l'I loffur)'OIJ a cupofooffee?
N<>. thilnk"- l've ;ust f'IOO • cup,
So. Susan.. )J$t W\3t wasi� ycuwerev.·antirlg::o ta'k tome 11b,::,ut?
Jom. 11$ )'OU know,""'"' boen ttf\'il1M1i Y<IUf fin;incil,1 s��!nitnlll fQf lhe
l.i:stye11r11nd, ll'lfwWna��,. there 111t1a numb.tr ol fi,utN that don't �u�e
add up.
Mtnmmh, lbNilY,
'fe<;. rm$01l)' to say that tha figure for e;,rir,g:; is not .wi:portad l;,f the
� Ciocumen:& .,,,'f!\-e had acces& to.
Tn,1'$impo�ble. lw;,s �ve,yg,oodyHr ;rndwfJ � mow th-,1.
81;1 it'a not qu,te as $1Jooesslul a$ the fi,;u1u in the fi1W1Cia1 statemerm.
And ao....t.at are)'OU trying to tel me? That we'Ve beenooo1:ingtlv.> booka?
Well lhete is lii& pos9bift( lhJJI il is • cll1iberate miln!pl9lllentotion blA Y'9
can alsoassume INI itwasjl,sta11 em,,,
Wso..t.m",�d:.m.igé-J
A& 11n extern11I Mito, , I h�·e no c:hoicf.l 00< to inl!ist the OOlfll!II\' A:1$ti1le&
the originai financi:rl report.
No wi)'. 'foo kr.owwhat thG dces toa oorrpa,.·s ete<lbitity!What'I
l\1ppen IOO\ll' stock p,�?
8ut the eamirit:s llgwe i&cleart( eff i:,, ,at !Nlst S5 milion. l'mver,
ooncerned about thal.
Uste!\ r1 tel )'OUv.t\at r11 do, ti hi,ve a talk with the CFO IOIT'l:mow
momng anrJask him to eltec� hia fcures apin, frn &u-e the1e's a simple
eic.p4,lnatlcn fo,thci.
Ye<s, fd apr,red�e thai. John, You kno,, thai Smidi Hdmc$ ardW:,(J:rshcd
hJ.-e <Jvery strict oode ofconduct .ind $0mething Ske tli$ could h;m
emtl:lrrmng eonsequmces tor a, of os.
n � b.lck IOYoU tomorrcw aflernoon, Suwn.
ThaMS Yel'f much. John.
Unit 11
Listening: Tectonic shifts in the global
economy
Il(. 11 P11• 107, Exerck, 2
• lnteMewer
• &ica Brown.Ecor!l;m.icJ
• W<!lcome beck. t-o, tooffy's spec.el l'C-(lOl'I on rapldly dcYeklping c�Jntfies
Wil hm'O H OU! 81"1Sl Ui:6 �own, C::hil!I OOOOO!niill Of lhO buellrlO!lil jound
EcMO'tlics. S119 joins us IY7#Qri lhe lir11J from NtiJK Ycrk. EflCll, lhl!l'b ror
spai'w\gOio umo to talk 10 us tod�.
e Nt.r Il all.
• ColJldYou tell U$w�t rde. in ,,cu, viJ•.v, •• the 8RIC001>1tri" pl;,jin_g iri
thO woitd. wido.conomy?
• Woll l'd rathtr ' lii-A IO 11111: abCut rec,idly (»;Oloping ocunt(,os h tlliSCCr'IIQXt
b9CM9 the 8RIC Qtl'mtriw
19P"IWOl orfy wrne or lherl\ Bui v.t..lri'Al:I
,
ta� a bOkat lhe!so 0100t'glog cconomieswo �CCI to tait &bout thO ooXI
•
•
a
•
a
•
•
•
•
•
a
•
ùh8!i0ef doti&lilati()r'I- 1110b&l�. Ui; �&l'IS IM wi:i i1òN hf,,o� rad:C&'Jy
<!ltlerent competi,� Cl't.'lronroont,il'Jtotlch�ryol'W! trom every
...ti«e
0001pe1H lcr evetything,
ox. r.001:1 yc,u t:111rily wti111 th111 mo11n1 o:uclty7
Of cour,e.\fe uS\"ld ti hi,,e a sltuaclonJrl Whleh 1\Ch COl.l'llr'y COf1'1131téS
«q>ardod inlO pocw c0111tfil.S. ci. t90ufCt'lg U\Oir own 11uol'Mlj jebs. lnolr
klwtrv,H.ie Pbs anct ba�ltf SJl.-.&OngW011em cuturt1rounc1 tllO •..o,ld.
'Nel\ lhat'd-:tM now.We MA' tiavecomp;11'11esfrom rapid�<k!YelOphg
<!contmie!s mwl'lgintodMIQPcd IMft<!ts O<Oltlcr emorging m&OOts an:1
weòming chlllaf'liP!S lò 'i'N.s.<,grn muth"1i01111I (;(lfpilJMiùrlil 1illur.'C11 tt"'
...,.-Ond.
I !ICIO.And YlrJ ll&S thhl ctwlgc>hllpPQf'lOd?
wra,wh111's$')ing an 111 lhAmotn11nl i!'l lllM ynu MIQ tM �nAfllll or gahRI
in�grataon: 1'800 berr�rs Mio corro cb,t,ri; IJ'Piestffl(!(lts,. bar.ka or
11::co11nring trms •• avai'abkt u>ov«yb�: 1.111tnt trom �l'ollt can
,,.._,� $1'\'wlwO, � ilY"" wo,o VI l"".li$n O•, C�inOM O()f'n!*V)"II e()IJ,:t
u,p lnto th) )8$f resources In thewOfld.
S!I Wll81 doCS thO'Ml(ld in lhO Ck'8 ot globalty 1001: lii»!
'lidt ln ffllll1'1I )'Gll!$·,t,v"w bwnw11tchit1& lh11 autv11I cl 111;,n, 11mbiti:,111:1,,
rosiouroo1ul COA\'9�S trom rapi�davcbpingmerkets. And they h8\'C
01'1!1fflld lh0 8'1Hlfl d gi)OOI oompotilOO M high si:,c»d fOf W(fl�. in ju!II
two:,ieatt, frcm 2006 l o 2008,. ttie numt:er ot oompanles from Srazll
Cbha. lndiund Rl&ìa listod among thO FT Globef SOO mcwo lhan
(luadrnpbd,ltofn IS 10 62. Il• not jusl tho lndian f!t�Gtoup,wt.ch marto
h lnto the b!al new1paper headlnes o...er te•e In 2008whén they aait.i'red
rwoot lhO \\os1«n tbgsà"p car tirands/.fiVa'and L.attd RfN8I. tt-..o.,o aro
OIIIO( pla-,ots llkO l"noro, a ChinclsO CCl'ltpuior mat.of.
S:i bear11'.g tn&t In mlnct. aoyouih!(Jk matweU·eetablishe<I \l,\;s,em
oot11panies � to lear tCf thCirwOfld �alfe,11� posltlon?
Hol ul!dulj. -IOo11iMl:1, lh::uo l!Uléllltllinly a bi Ol lhfoalSwhktì eorno·M!h
6'r)bal,y f(> ihoy l'IOOd to bo -- cf �.
fhl o r al. WOS111tn eompanin l'IQQd tob oas etwor and eoSl-<ltfoclM as
� indig:inoill COfflf)AliOs,m11t"t1g a Ice more� Cl a ltll klss,whitll w11 cali
frugpl e�:MerÌ'lg. for ex&rnflle lhe hdlan compary Tst1 A..4«0's ls nere on
Il'• tonitronlwlth tts "!)00(:)lt'sC*'", thO t-.'ano. lhJS earls r.cc p.isi: lht rosut
Ol using ehoap kldi&n ongin00r1 &l'dil is eortaioly tlOI &!>0111 aec,oc1i\g IOW0-1
uery mndlr'ds. rn iact. too cornpa.iy used $1Dte-0Mfle-.-anvlrtwl deSf11
icctin� m•'hai thC'f carno 4? vah hì lhd tru� i�!� e&r. lt w.11 ecll
liklt h:>!Cl!kl:lt in 01111111 Qfllfllging ffl8ib!S boc:ai.M .� llll('llkl thllNI n1111:l 1S
<:hcap a�rrel�to themotcrqdewl'«I t/8...clqWttl tMr la�ty. SoVH,
le< Olt9fl1'llt,-..f'i:tl !ltlld MOl'O carii i'I ChOa i'I 2008 thatu1 901d in GOl'A\8�,
...,.ilic.irtanljbt p.,I U"ldtr l)dlSSUIO � lht N,no.
�Cll-.lSl!f:.So ..
can I a1soa1e1 hOta t!'l&tanoll'ltr 1mportan1 cbstaclO iS tllO mincrsotor
'li11SC41rn 11Vitinetiur111$. lr ltuy !1link tlwj e,indlllr,91 th; �mo old p,olbct:1
te tho dct'l'Ohpir\Q wcrld <ir j11tt roe11t ot1 :1"6-' io.do urbane<>Mu:mon,
lhoy-,,ill rni!i:&011, on thO1nass co�mall».IS 1h81 &:"Il om1.-ging, T!Wly
n� fVM• b.ail'A.� mixi• lil:aAitTr.l, tlm lndian ma1bl1 �111!91 in fh�
mobdo ool�on, mri1N:. AìJei c11a,gcs me � prllOC!s In � • -ori:!
... 81"1:f
� OOit,g so :hoy coulff takO adWln� or1h11mnons or POOf'OOI\Sl.l"AAI'!\
...,.t,ich 1'1<!111 IIOs, Al lh& $� time (hqy a,& l!us,ty pr:,f1t11bt& becll\1$& lhe'/
hM OUlS(lu-cod thOlr c,p11ta.k>ns10 t:igmul!IMlk'lNIIS lto 181.A.
Rghr,, $G i!I 11'01'1> hO()O IO!'WOStorn ffiultil'lBlicnNS7
Oli iure. Thve �ne 11.11,'Q 1;9purhmitio11 ly:r1gatu11\1,And t!ie n1ultin-ion•b
haY<! h<.'ard t.Q•-al:G.1.9 cali 8!'ld am ro,,; mo-A� Mitlfy, oocalJSCl toolr
lr&dilion&l n'in'tcl,ff, 1h11 Ykrlll hf\t.10 boco!'D:l Sflluf&llid. Geflelltl CN!e,'ricill
.zi good PX.'.IITJ)III �f9. Sil'IOl:I :IIIIY laun1;� tll0ir eret:11 teclvi()'r,vstn,1,Qrt
tnoy haw bfilln colitl0'8!ing cios111y wih tbo Oii�o gowrnm:im 10
proiilkl !l'IO 11'1�� Aw.lricity fO( !l'A c!'MlopmMI OI tilt Mili lll'IIM.
Sorre $!nllelY with Vie�m'$g(l\'9rnmanl: h country is r»11ghug9
protl..mo in-tw, ot, •Mtgf, o.i11tlo11 •nd rol. ond et ho»oopl\.(>tlooi.d
prOdue!S to .OHi n all aio&S.
An:I jU$lCne 111Q1.1 thios if I m�: 'll11,wmc,o�n�a ,till 11..,11 • ,trurig
�ad i'lmaOO{.'Cria! stfls,marbHi"lg anc1 R&D.11 tl!<!'fconi:»n:ra11>on th1M1e­
slrùr\glfo1 !hl/ w·11 i1t.,,- (;tfll�lilrN 101 11 lung timi>.
• I soo.Woll. ,nui:h &s l'd likll to diScuss lhis fl.WIIIO(. timt llas b11&111n uii. so
trfiorb.lnstcf/we-'ll h8'\'e 10 lea...a !t triere. lha-i\: )'0U wry ml.Cli for
&�rlng ou-q11Cstlons Md tlnishin.goll <in suc:fl a posilh"<' noie, Ms
8!'ffln.Goo�I L
• Good�'e.
[r' 1
Oescribing trends: Economie growth
Page 108, U:en:i&H 1 and 2
When v,e tait a �l the BRIC oountrin Wé �' piace ipedal emphcl$$ on
theri'rlP"'&SN! g,owlh rates. 811 are thEy 1ea1y that lff11)'U8i'we!
le('• i.e• c;bléf look .i Chi� 1nd lrclilJ.
Cbn/J' s GOP growth rate nx:bled IO Mr 14� in 1991'. hom just 3.8\ i,
1990. Sut the coun11y couldn't re3lly ma!n;aln tbis h1gh r.te. Arst gl'l:1Nth
�cli"'3<1 T<l(lual�f bui thJri. in 1�4. � started to �Il dr,rr�icalty ard 1e.,che(J
•bwef 7.8'!n 1998.AS}'OU can &ee. there•,,a$qlm atlrOni gri,wt, in the
folkM•ltigyeet but grcwth qùe\tf tetlJme(J to around 81 h the f'o:bMng two
war1, Bui 1"-?n Wé 001.11d r,iee • ,te.lt( incri.m SI GOP ,v7Nttl 10 lC* in 2003
which Slayed al thit level fu, the fol:Ming two�arund lhén 5Urged to
arll)(ll\lr PIiaie Qf 13.\in 2007. tleedlen IO $#i, <Ivo to tho NorlltMdi ec;onomiç
eri,i5 the gw-,,thl<lle h111 falen dr,maticalY ;,nd is expe,cted lo filll 9'-en
further. a!�h at • moremcdest raia,
M)•n8llt $Id$ 11how11 ff,tfi11', ec:on-imic pe1rl)frn111Q,v.hiçh i, q� dif.-enl
.s YOU can �é. e$pl:lo.-,. • ttie beginning of the 1990$. In�� lniJù
figure& v,,e,e con:iOOfattj kM'E-r tnan China'&.
St.Ylin& w,lh •m irnpr�sWe rata of S,6.\in 1090. ,vow:h p lum:oe�d �·
Mr •l to around Il in the following 'fN'� HC'f','('ti'J', � vou can M tiere, th?
grONth rate reeo,.-ered and reached the le'\-el of 1990 ageh in �Ile folowir c
'l'Hf, Frorn then on lnji;, e,nj<l'Jlld 111Hdy gn,wth �to, 1-'1 IO ;ilmoot �in 1996.
Uofortun.a<ely;, period ol r11ther \ltlSIH� growth � ina1d i.s1éd tit 2002.
when eocnomk gtQWlh hil aoother low ol 3.K Tl'iswasa tumi,gpcint.
thougJt. beCl:IU$11 h.li;,w;,s ,hsoable to benefit ffum lh.l noo,ecrrcf lhlJ
wondwide economy,wtlic:nwas r�lad i:,, a bocst in growtl'i o f a'most 5 to
8.� i n 2003 and to9.71 in 2006. In 2008 India was alsotwt tt, tM economie
crisi$, &O giv,,,th has deçlined $h;:irplf and oould reach Slin 2009.
Unit 12
Listening: Setting up a business
I) p.,,. 11&, E.urcise3
• Mith�l l:r.� ll'IC&IV-.w81
• Rotitcca Brigt11, StrefTe
• S:imeone else 'M'l:,'s takin;: ac:Mn;age ol Ca-mbrid�'l efMronment for
Rgh,t.;,ch busiries$iS Rebecca Bri#IL Stle's a PtiO m.dertwl!oseproposai
for a rt:!11 $0(t1,·a� aecl.tl<)' proiilclwCfl the uniYerst:(s 1>:Chnolog
entrepre11i1\lr priiefou1 ve,ar, ,go. Tlla ;,redUC1makesremi:>te 11coe» Il)
re.'W<lrh more SéC\lre buiwOJUin II technically si<Tipe Vn!J. So l!ow is d;e
drw e&opmerc of thé b1.slres.1cgolng?
• r,-e set 1-'1 and rtii)stered lhe cornpany, urder ltl:I bt.nd r.ame �,:•
We've go4 apnxi:itype �and h.J.edone ourmarutr�earch. Sowe·re
almosl ready10go. b!Jt before l:00 lau:nel\ we nave 1nfinetl?e the sales and
mart.:e.ting strateR)'. I é)IJ)eCt U$ tol.auncll i n about :;i;)( monttl( tine.
• And llow haveyoufl.lY.led the busirwm so fai'?
• Sa.cally. we've U!ed our own money soter.We've �l'I w::,rb\g:M a part­
time bilSiswhile contnuing
eY\lf)'d.rfwtOrt: or te�rch.SIAwe're now
looting for �ternai Mstment IO l'und &alal)'cw.s ard other overhMds.
• l.81.1'11:hirig a new busiressfl tl'lemlddle oi a1ec,uuon so1.1ndsl'isky antt
� e,,en $Ca,y, wrr, are you doin11hs rather th.-..taki"*a m job
wrth a big eorn11an)1
., ll'e tMh ls, ,n thls busW!euernlrcmient. n011ing ls sfe.Thete .ire feN
well-pi.,:d iobs that offer any klnd of securitY, $() I tlinl it's wortll pur&ui'IR
·
your diearn l:'.s 1r..ore fun and l'mtearnlng 1.t:llls thal Y'ill t,,e useful
arywtie,e.
°"'
155
Audloscrlpts
Using legal te1n1in0Jogy. Do&cribing a
company's legal structure
lii, m,namo lsA�n Hetris and rm thtdiroccorand O(MOl..l\do(ol o-e11m
CMsE11opt. W. rOf'! ott OlllfON'4'� nigh-tc>Oo cars. Stt;l'I as FOtl'l!ris,
LambOtf'illiS.. BentliylandAUtn--Martlr..s on shOtt.termand iOng,.,;rm k!a9E!t.
lh:! oo,r.paj\•'a pn o,ganicaw b�sc �·vo il'IY(lS!lHI 81 0111 ptOlitund
,r.iw ir$ Il U-niltk:lr1l:usuci� Wlh a lklut cl ?2 CJsr:l llnd tlrè0$ i11 U.,1do1\
Paris aoo Maorld
\\'I) <»Cidl.'d to k.t(ip i:,ivato tiability 8l 20t'O boeau90 v,o, hlc),v tllal tho
SUOM!l!I r.f <ni husifM., dAJ>Qndsa k'lC on rh� stlltcl al thA cicont:my. Al tlf us
oore Nl',oa bm'leaJ oog�e. so ful'll1f'C thO ,equiremoMs d 1110 Cornpaniea
At.t i5 no prol:IOm.
Altllouth aH 011# sh11ro uio nMsion cr drMit anund in a'N(Wld>triAear.
we nc,wr tnc:w lt'Ntmlght 9)1 hl upwlth tlle business oneday. 'Nt'i. tlll
undof 30, yer-.a 9C'IO. SO if oroec us llt.ws thoOOtllpa:'I)', wo won't ncoa to
dissoMt il.
.....
• H'y;,. we 11re �n and Botq, �•
a H'ya
11> ,� <MTier11 of thlJOQmp.,Nf $b,(e/;()11tffirv,wn. We be;:am.i hit1IC.fll al '-:lw
ooho()I and sta™<!• blo,g ;,nd ;uimpl;; l-shi1t line. NON �,.com
is a worl� itateboall'dn li!e �r�and dOihlng brand ,,.;ji an online
m.:,.g;:1linl), O
•
.u 1Mnve b� 1-Q;)f w;,s (.2 rnilli-,n, v,;,:s,,'t it7
Yeah, WelL we'1€ not so much into Mnirc;:;, busineu -we're more
irteresled in bri1gi'ig
lke-minded �ar.d oommuricating
,..w,
•
•
•
•
•
iè"eos -·
Ye;ih
-· so the IOOTI" trie oompenywe cl!o!io? 1s easy 10 run. we creo<t mueh or
(1,11" $UOOl:IW t:> o;r independtlnce. (i)n't w.i? Ard'N8'1e die perfect rn�t,;:h,
youand me.
Ye..h. � ldeas ind hls skllls.
\\'e._ I don't blo,,' ab:>Ul th.Jt.
8ut tl'lere i5 an eement of risk -!fon.. ol us t1m i,t:. into financial UOl.tlle
which oo� effe::q the c«np:11ry. the ocher ore hM to step in wittl the
l)f'Nfte capa1. Sowt1 hoi:e this v.il neve1 hawe,n. don'twe?
e Ye;ih, We don't-
Hi. rrtJnamt ls Holn S.uart. rm lht �r ot Stwrt Home:. wtid'l ,ollt n y
p(OOJCt "CIOCk-al'l)Ul(kllO-fQOm· onlil'IO,
I 11,.-c,n!Qd 1hoolcck.cn wt,ggli;.t,un Iw&, • stu1»'1t Il Slllrli� bui ilw11s
nnt,,wtlt>n <Vlff'II'> ni,m Nnea-r•..i1.mNH11(',l'ln m1 ..,,_t,nnnriliM ttlllt I
!l&rtod oonsida-fi'lg :l'O eption OC bocotflin,g &o oo.:ioi::,vnout. I oould h&\10
l1r.«1illwl il out bui I iiouldn' I hring n� lo gki:t up coniml. On lhl oihe, himd
rma11 oogl�cr anclnot a bu!in:iss pcno11. so runnl:'lg a bus I� noods to oo
Wty �i�III tot l"/'lll,
I W3$ l\dlyOflOt.gh Il) h!Jl,9 tht nec»ssa.cy �r,itol of teO.OOOrai&ed ty lfff
tan't:Jy.1 dotft think ihat go blll'l�t. lhOu#I, boeausiO tN markGt tot
gaclg_,}tl)' iS �u-. Se 1'11'1 not runr.ngtr.o Mk IMI Cft<lilofS"'-i11 go a,�, my
p��t proper!y,
n
Garwlh ('riltlt. U;,,,U,.·"'4""1din�t.'tJJ'tl
Hello. my nam;i is Cireth Evans. My twin brcther t.ee. our bu$�a& paru,er
Rt,.-s Morgan and I nu"ldecl ourmart:etlng frm wi'I!� v.e were stJ. $illdeNS
with a l!OO irNesùrent, w'-ch•·as just enouti to � for the filst month's
web hos::ingfees. 01r Mine½ modet is slmple: we tlelp oompanlu aoquire
ourtomera onlloo t,Wttlngan looiq:,enst,,e onl!ne mart.etlng campalgnto
folfill that derr.and.last }'eaf'Ne h.cl reverMR& of l5 millonand we expecc a
100,,: growth ra� f o · tt'5 ye,ac. So,i�'re dolng pretty well
8111 �w1>'d lii» lò v�od and 11,11t in.e> tho ,nail»t al 01:m,ooie J:11
YCUC:hers. for thls•11e lle('dat �st ! 10 mllon, a &mwhch 001"(' ot us cen
ruo, So WO hM j"'9t Ch8flgl'.!d tha legal Structul'O O( OUI'OOO'lf3rl/ in otdor te
mllbl il p(l!Ui.t:111 for cutsil» ifl\'Cl�ltn 10 b1:y !lwQS. Alle/lu\o,lf lfiis Cll/!r\811
we ha\-e to l'ro(!t new obllgael:lns.. fO< exam� we OO/i hll'lt ..: dlsdose
tinanc� i11tc>rmall0t1 abc111 011r oompany and .-.o t:M 10
cotp0fltl0fl tllll:.
r:�
Alphabetical wordlist
1b • some body
tth • 1ont.chh\J:
A
abreai-t, to keep .. ot 1th ll
,bundanc:. ,3l
ecedlunie 58T
toacc•l�ate 139
I-O ac.c:ess 5th 37
ecceulble .34
1cciclent1I 25
I-O ac:climl1b:e 13
toaccompllah 15
1c:compllshment 25
IOMOOufttfortth 39
account c:umnt a«(M.lnt 75: ftlted IH90$1t
açcount 78: u,vircnccount 297
eccout1� 95; .cc<>uni. paiyable 98: eceount.t
recel\-ablt 98
1ccount1bility as
IO be 1ceot.1ntlbltl tosb 85
1ccountançyfirm 96
1ccounbnt �: Cortifiocl Public:Acoount1nt/
CAA- 95
1ccoun11na
94; 1c:C01Jndrc c:omp,ny 11
1oaetumul11* 76
ec:wmulated amortltaUon 99
1ceur.cy V7
eccuutlon 367
n:
I0 8CCUM
52
loadliwosth I?
1chio'o-ement, 8
toac:know1td1• 81
1cqui1ition J(J(J
1cror,ym 104
1c:t 'lTT: to be ln onth..� 122
toaetup 291
1euon: aua ,cuon aun St; courst 01
.c:tion IDI: logal 11etion 30
101d1pt1th 11: 101d1pt to1tht2S
1dapt1ble rJ
adept .75
1djou,nment 89
toacljwt 4
1dmini1tration 13;
1dmlratl011 5(J
toaclopt 551; to 1dopt fI polley) 53
Adahel 77
1dv1need lndut-ttlal!Ud econoll"l'f /04
1dv1nt.1,p, r()llke .. of stil 71,
1dwntof 691
ldWrN ophiion 1()(/f
toadvise 9
10 advocat.e 19
to,fftct 35
1ffirmative 17
1rrotdablf- 62
1,erq,: adwrtl•ll'II •cucy 8: executlve
1geney Jt9:gowunment1l 1gency 8!11
flCCl'ttalf-d 38T
aigrMment 53
agticuhure 53
ailina 53
toeimatsb 67
alrf1re 118
albtlt 73
alienatlon
1111--arovfld ,:6
alk>utprlcewar 3S
aliecatlon lii
toalle� 4-3
allecedly 96
alliance 5J
to,11ocei. (caplUI) Jll
toatt... 73
alumn vt 112
10,.rnaa., 9 6
am1tet.ufsh 681
es
1mbiguity 84
ambl�n 96
ambitlOYs 12
ambush 66
tt>.im.bush 66
IITIHlltiet ,pf
tt>1mounttotdl 38T
annoy1nct 48
1nnoying 291
tnnual 77;. a nNJal mfftlng- 77, annual
Hlot35
lo anticipate sth 91
antkfp,tlon 61
IObe a.nxiov, to d o sth
opotog)' 1&
app.irellEi 38
app.irent,lwno-rH..on 21
1ppea1 66
tt>1ppealtotb 3,
1pp(ianc.e 47
app6cable, not - / N..A. 29
appticant 6
appliu-tion!!!i 6
bapplyfor,th 6; t01pptyto,tt1 29; ::oaPPIYI•
IM) 18
tt>1ppreei1«. tth 22
epproach t;
IO approach sb ,o
1ppt0ptiate J8
1pprov11 or tht mJnutH 89
roapproYO 73
..... 56
arma: to be up In arnw owr sth 73
atmamont 82
n
.,..., 56
trtiflcltl 53
,uembt, 51
autmbllf Une 55
IOHHrl 46
lstHuntnt !81; ,u.urr.nt
procedure 81: Mlh1Mnrnent /19
a.sset(s) 76; asut m11nagemant 76; cu:rrent
as•ts 98: flud UNb 981; lntangib..
....u 98: 114'1 tan.l,;lbi. ,...u 99
assignment 10
•••ocllte 2'7
ton1urne 53
u,umpUon 23
tt>u,uresbsth SI
a.ssurln.g 78
ATM 82
IO,ttach 1th 56
toattain IS3
attendane• 8B
IO•ttoct 51
IOb•ottribtrt.abletosth 116
baudlt 97T
audltln.c pn:,çedure 81
auditof 9�
IUthOrlty 7j
.wall1bla 9
average 9
wla1ion t<PT
IO b• owa re ofsth 8
IWlfff'lf,H tJ3
awHh 62
B
badc:lath 61
baekwa.rd ,s
badJt 24
bab sai. t2l
tt>balance 54
balane.: balanQe of �menta
deficit 45; ba�nc:415hfft 81; olf.blllance
thfft 96; on blt&nce 46
ballnc.d fund 181
bafmineu 42
ban 73
toNn 12
bangi. 42
bank 1tatemant 32
binkrvptcy 77; b•nlauptcy proteetlon 96
bar, to ralse the .. 63
blrchtrt 39
bir&tln 36
!O bargain 79
bean-c,ountar 95
to btar 73: IX> bearlt1 mlnd 1()lT
beggu 13
bttu1lf, on tb'1 behwior 13
n
INllof '3
benef'k:lil 62
btntflt 16: frln.p benaflts 16
to Mntfft H
btyood "
biannual J04
lq-btU reta iler
Blll oflldirc 48
billboud 6$1
bllllnc 29T: bllllngaddrus 28T
bland 13
blank ?A
to blow tbe whlstle 95
bluech.ip 77
blue-<Olllr tm�
.. ll
boerd (Cl dlrector1) 5J; bolrd room 8ST:
oorporata board 97
fOboHt 41
bohernian 71
bolt 55
bond
iowmrnent bond 76: Ione-temi
bondt lwuH 98: to luw bon<lt 7'
bon�d atoragt 47(
s,
n:
bonut 124
booltl•epctf �
booltlcteplng �
booet 106
lo boost returns 87
boredom 56
toborn>rN 82
borrower � borrowin, fN 82
born:,wlnc rete 80
bottleMCk 105
bo ttornline �
boundfor '71
bow 7.5
bta.nch 31
bnnd 35: brand °""n•r 35
bn.ndetd goods 35
brandi"! 66
brt1k: to brHk tlh down J34; to b,.,1c tht
new, 100
bretkev•n IIT: btt1k•�n poJnt J.'6
brHkup J3r
brleksand mortar 1tore 311
brlef 8
brlght 19
broadba.nd 1..-vicu 96
tobroad.n 66
broker 77
brownfl•ld 1He 20
buc:k, to pa.. 11w .. 65
tobuck at.-.nd 32
buclg•t: budc•t d•fleit 139; bu�t pian 75
tobud,et 82
tobuffer 77
buildinc block 62
burden 13
bure.au«acy !05
bu1lne": bua!nt:111 dtalina:s., 82'.
Business Economkt 9; busin•s.s
lncome 119. l>uslMlt proce'*
out.tou�ln1/8PO •91; Bu1lne1tStudl" 9.
(generai) Wtinffl unit 901
157
AJphabetJCal wc:xd,st
h>buy sbout tlr
buu 68T: buu wwd 55T
e
tocall a th otr 2,
çal-rvolume. hl1h., 33
campalgn rO
c•mpu, ,r
h>canc.el • c:ontract 30
canc•ll•liOn 140
capitai: c:apltale:ic,»nsH 100: upftal 11in 71;
c;1pilahurplus ;,9; workin1capital 118
tocapt\lrt 62
c:atdbo1rd 35
cal'ffrcou:neatlng 7T
Nl'&O Q
çan1•r ,_g
toc11ryoutath rO
çaah: ca#! an-d ca-ib equlval•nt• 98: e.ah
tlow .io
C:Hhl•r 40
c:aahpo!nt 29T
c:atalyst 121
toc,uputt 11
toc,wrtoab :J4T; t:ieet•rforthenittd•(of
$bi 82
ctvtloua 78
c:•l•brity •ndorwn•nt 65T
cemet&cy 73
certlftçate 9: eertneete Cl ol1gJn 48T: doctOI'•
c:ortifk1to 140
c:•rtilled pt,;blic: IC(OUntant/ CPA- 95
toch,irla mfftin.i 8'
c:hai,(ponon) 89
chellenpr JOlT
Chanotflor tof u,. txch•q....,. ,,
cha111ct&rl.tUc• 14
ohorp1 cJttro oh•rie 28; detcrred lon.r tcrm
usetc:hargu �� d•farr.d long,torm
liabiltty charg.. 99, frelght
eharce 4$, 1n1t1llcht1ge 76: Incharge
of 74; safec:ust:Jdychug• 16
toch1rgasb(a priea) 7.1; tocharga(auodit
eer<J) 30;tocha1p abwith ath P6
c:hart 3S
tocha .. 31
chKk, to kMp ,thln .... 63
Chkk•OUl J7
chtefaecounun,emoe, 95
c:hilfuec:uliY• offlc4K/CEO 63
c:hilfnn,ndel offlcff/CfO 69
c:h ild labor 81
c:hromium 1JI
tocit. stti u sth n
cltli:tn 13
cby:eit)ocouncil rii: citydw•llw "l(J;
eltyl'IIU 857
ct.alffl 1()()
c:luh 13
cl.aa. action ault SI
tocl•sstfy 76
c:l•uH 103
çt1tnta1oa 34r
c:loth 24
tobe c11Jedlnoiut1 98T
ck1tt,, 69
c:od• of c:ond11c:t 1"'1
eoerdon 8ST
coerdw 85T; coe,ch,e power 8'
(l)ooinc:ldewlthstll 96
cottapee 96
tpoolfapH 96
c:olleetion ot taKH 119
coltvalon 96
Columbus splrit 1i4
come: toeome a lotlcw., 36T. tocoMe down
106; to come loçM 51
comm,nd 84
158
commerch1I: oommen:i1I
lnvolc•
commerc•IPIP•r 71
commiuion 16: c:ommlu.l<MI ot an offonce 1(),J
loc:ommit 6
commlunon t 17; 81
commodlty 4$. 105; c:onmodltJH
produeta 7l
Common Ma"*t 53
commonstock 98
com.munleator 66
commu.nityservb 9
toc:ommuta 24
comJ)fll'I)': com.p.iflY secrtl•ry 119; company
atfuctu,. 119: pr�atollmitodc:ompef'O'/Ltd,
EE; 119; pul:IIIC lln11tefcomp&frf/PlC!i::I:
119: Companl.. Act 111: Comp,nlu
HouM 119
toeompen.setetbtorath 26; toc:om.penaatafor
8th 52
componsauon 4
competitlon 1T
compotltlY• onvfronmont l()l
compotitiY•nHs 43
competltor !4
tocompilt ath 10
toeomplement 59
compleUOl'I SS: completbndete 27
compli,nc:• 87
complitnt 82
tocomplywlth 18T
toc:ompri.se 57
to c:oneeel 06
corteem 23
coiw:•ssion BO
COMl'J&lon 45
COM,.t• 13
toeondens• 15
to•onduotonetelf 82
con.f•ninc:• c:all 9?
toc:onfess 8
confidante 17
con.fid•nc:• JS; oonfidonc• boost 173
confid•nlial 63
con.fi!Tilftlon 32
con.ftic:tof in.ta1W1t 97T; oonftic:t.of.inti11W1t
IHU� 96
contclentloY• 11
contcientiousneu 71
coneclOusly 33
con.Hn.sus I!
con1lderation, to t•k• sthlnto- IS
con,id•,.d, to be - sth U
con.signu 48
con.si171m.,,t 48
conapltfçy 96
IOCOftllUlt 15
coneuttency 18
cona1;11t1nt Il
consum•r 17'. eonsumt!r :r.dlt 76,' c:onsWMr
prot�ctlon 51
loc:ont•mplatlt 5Z
contiemplatlon 103
contrae\ to cencel • - 30
contrac:tion 137
contrar1.an 7l
contn1ryto,th 46
contrasti by,.. 46
contr'ibution /J
contributo, 105
controll&r 66
contl'Ottt!ralt l 66
conv.nianc:o 35: oo,woniltnc:•of locatlon 35,·
m,.,.ia-1• of oonv•nilnco 90
conwnhnt 3'T
conwntlonalwls,dom 77
conveyo, bett 55
convlc-tlon 911
IO eook the books s;.t
,er:
oorpomct:corpomo board 1>2: cotponto
tra1.1d 91
oorpor.-Uon 4.t; Corpocatlon B
-- 119:
c:orpontion ta.11 119
oo�eted ""' 24
oost: cost m-1n1aem•nt, r16; l-lbor
co•tt 104; tw1nii,gco•tt 80: coat, at 112
10co.tana1mtnd-1le& 6fi1
oounse.lor 9
10e0t.tnterath J3
oount« to sth 32
oounlOC'Curtsnt 53
ooupled wlth 23
ooura1t 96
cour
.. or aetJon 101
COUIUOU-8 29
WYOr: tocowr up 103: tocov., 1lotof
tenflory 907
WYOrletter- 7
OOMnig• t'IVI
00Mringlettlf'9i 7
Cl'llne 171
era-I• •77
credl.illty 66
iocredit •th to atti 1201
credltcredltcn,nch 75T: credlt
ratln& 76; eredlt ,tale 76: on eredlt term• 116
cr.ditor 98
creditworttliMH 1().1
tocreep 73
crimin.1 ponalty 103
critie 66
10cro11•w1torshad ,5
crvci1.I 46
tocrut1Ch n-.nibera 95
cn1,,_d 1T
crylngJ•& 13
ouble 4,r
lt)c1.1rb SO
cumnc:y 76: ew... nc:y fvturu 7f,
cumnt cuR'tnt account 29T: ClfNtnt
IHCIIS 08
curricubnvitae/CV$ 7
10cu1111t 62
k)cushion 56
cuttoJMt: cu..
tomer baa. 32: tocrow on.'a
cu•tomerbue 32; cu,tomerlnqu:lry 32:
c:u1;tomer satisftction JO. eustomet tervice
26: customer surwy 9
customiulion d5T
cu atomimd 7
cuswms 4l
cut 35: cut 1nd dried 8,'S: clJt.pric:eoporator
35: cut>:throat oomp.tition fil
cyç,le 361
D
d•tt.lMIM 9
dated 691
deadltn� 7
IQdHlwith sth 10
deallngs 96
d..n 90
IOd•blt (a bank account) 32
deb1t eaNI 82
debt(,) 14: debt trtp 1,;
lQIWStnlctUl'9debt($) 43
d�btor 9 8
dec•de 38
doc:.al 5S
decelt 9S
doc•ptH• 66
docl1lon-m1klng 10
todtc:lh,. "
IO decruse 105
todeduet 98T
d441.1etlon 100
tt>deem 81
de,apend,lòplthrown in atthe- 84
tO<kfHt 85
d.temd 99; c:kt.n-ed lona-t.rm HMt eharee•
9P; deferrodJonaetwm liabilitycharges 91>
de,ftcttao-r•rrmtnt deficit 1� balance of
IN)'ffle-ntsdetklt 45
d.,ore.i,uort !05
de.&Jff 6
IOdffogate 85
d•llb•r'9te 94
delic1w POT
deliwf)' address 78
de-mand 187
de,mocralk ctiect 105
de-mo&,t"lplllc 65T
de-nomlnttlon 76
todtny 9/7
todepkt 3T
todepoflt!mol'lfJ) 297
deprecil'tion: lon depreciation 98
de-priwd
deMrt 3J
duarur 74
de&&rtffleatlon 105
dMiltd 19
de,talntd
todetect 51
dete,pnt 36
todtteM>rete 23
de,termlnauon 11,
ffldat.rmina 8
determl,..d /2
dfflrmlner 1QS
detrimont1I 8l
dev11t,aUon 76
dwk::e 291
todevlM IIS
todeYONesu,to@ 85
dl1mond 74
dl git 7,r, double-di&it ICU
todl&ltile q
diligcince IU
dlplom1 9
dlrectlvit 20
diri.chcu1p ,13
dluppea,,nu 33
todi,ctitrc• '77
to disc lose WI
dl*CIO$Ul'e 971
In discontinue sth 70
discount 76
dlac:01,1ntedt.o 36T
lo di1eour.1ge sb from doingsth 97T
dl.Kretion R
dl•c:r•c. 9.:1
tQdi1miu1b 23. todismi111th 11being
tth S()
dlam1..,1
todl1pt1y 36
dllpOHble lt,eontt 76
IQdls.rupt 57
10 dlstinculsh 55T
IO dittribut. 40
dlstribut.d pow•r 8f
dl1trtbutlon 38: dlttrlbuUon ctlan�I 4(J
dlttrfbutor 40
dlwf'lin& 53
dlvkk>ncl 76
dM1lon 85; dMtlon of l1bor 86
todoawaywlU11th 361
docto(8CHtffielle /4()
domestk 2a domutlc partner ,7
doml<:lkld 82
todon.ate 113
todouble-check 28
todown•eale 62
down1lc:k 73
downst,eam p1oeen 54
sar
,or
,a
rodraftsth 9; lò d111w 11thup 75
downWrf\•COl'IOffllc- 191
dr.a,gon ,21; -'1 doll 122
drawblck 46
IO drtrt 25
drop 44
drop-proor
todropoutot colltl$' 19
flO dub 115
dublOUI 96
IIOduct--tap• 56
duH 587
IO dunlt 6.:1
dur.ablllty
dvrtble 62
d11&t-prool 58T
duty ,,
ssr
m
E
earni ng:s ll, Hmings report 96; retainad
earnlng• 98
eueoftwindlirc
econom�•canomicdowntu-.rn 18i; economie
crowth 45; economie tlowdown 43
�Ono!l'IY: •dVlnoed lnc:lu-1trillil.ed
•eonomy !04; eco�,u or ac-11• 3S
edltor4i�hl&t 63
,ducation 9
eplitarlen 85
O) elceout t IMn.g 112
•ldarflO'ollCtr 71
emb1rnnin.a: 96
IIOembrace .-th 52
110•merg11 73
emer&@t'lce 44
em•r1in&:ec<W10l'l'l'//ma11otVnatlon 104
IOtmpaUl.lte 28
m
•mpoti,y 28
flO emph11il• 4fJ
empio)," turncwer 33
empow•l'fl\&f'lt 85
ro ,n,11bl• ,14
•nclo•d 56
IIOeneoun..,uth 7T
•nd•mic J05
el'ICl-of-pe,rlodentry 94
co end,naer 55T
IOendOrM !,;J
ertef1elic 6
,,wrgy:energybrollar M: encugyprwidctr 96
110 enforce 851
coen111z- ln1t h SO:to erca.a:iub 6(); toeng1ge
sb in a conv,rs.ation !i()
•AJ•&ing 69i
'"''"'"""' 48
IIOenhance sth 17
enllthle�d 73
IO enquln (1bout1th) 20
enqulry 21
IO ffltoll lb 9()
•nroUed ,tf
enrolhnenl 90
IIOentlll 62
•nterprise J(M-. for elgn irNHtad
enterprile / FIE 105: ,m,IJ 1nd medlurn­
•lzed tnlft'Prlfff/ $ME 105
enthu.sl.um lT
enthua1.a,ue (1bout e.tll) 24
IOenUtle •• to 1th 27'. totMt tntlOed to(doln&)
sth 26
e-ntlly 9S
•ntrepntneur 47T
ent,eprttneurbl 1pirlt IJ4
e,ntr•preneurshlp 115
entry 1tn end-ot-perlod •nt,y 114
e,iwironmental 77: enwll'Ot'lmer1t tl offleer 20
•tJJl1)' ,3: equtty fund 77: retum on
equity 118', fflare-hooklere· equity 98
toerect 72
ts&efttlalt 35
tout1bll1h 341; ro..1,bll1h one•lf 35; ti
est•bli1h rappor t 5()
establl$.hmtn1 34
estl mated 17
etMc(•J 46
to.v,tu,te 6
toevolw 63
touceed 7S
•-.cerpt 14
ex.un;.., 557
exch1nae r1t• 7.:1; e.l((l\1nre r,te
adjustrnent 105.· e,;ch1np nte
t1uctuauor1• 76: IIOIUnaexcht,_ge rttlt IOS
toexch1de t
eucutlv•: eMCutNe,pncy IJ9: eitKutlve
•umrn.ary 118; ..:e-cutlW\lk:--,r..id&nt 8l
t,axempttthtrom 1th 73
Gllhilar.llted l,'J
up&ndlture 69
ex,penff(s) 15: •penM account 18
oxpa-rionce 9
toe.xper lenc.tMtl>ict 3S
ex.pertiM 63
explratlon date 28T
expllclt 85
toe11ploit 179
explolttUon u
to buxpoffd totth .:191
e111posure to 66
Hllrior 56
e•tr• cherp 28
oxtnction 105
t)'ffOl'e 73
F
FU &ervleea fOI
flleCIHh• lJ
IO hlCiliUt. 53
rac:llltlH 34
faetion SJ
faeulty 9
f•Jlout 91
to fat.sify 09
to fam,llltrlle oneseH wlth 1th J/
, ..
.i1>1e 19
r.eture �
tocetred up wttluth 1201
fed,r1I offene• J{J,'J
r.d,r,tlon 63
fff 29T
fen u,S
l'iclitiCKIS 96
to fl•ld qu..t1on1
field res81rch .f2
nerce 7T
,o,
tl.cu.ref•I 2< tomt1Mre the fl&"urff 95
10 ngu re •UI out 43
tonie SAI
F=ilct 13 8
l'ifmedltor 691
fi"al•nm 77
finanelail: fln.:inc:hal future ll, fln.:inci.:il
pnwlder 82: tl:flancltlreport �; Fln1t1Cl11
S.rvkit1Authorlty 62; 6n,ncl•I
s-taibtment 93
tonne J03
"11111\oed Ptrtl 5'
ftrst•hlnd 6'
'"
657
l'ittJnp 73
1111-6: tl11ed IUOts 1181! flud d8posit
1cwuM 78; flxe-d lnllerut paynwnt 17:
fl.xed-lncome fund 77
nabtie,guted 2j
ft1tm1te 80
n1ttering 96
159
Alphabetical wo.-dlist
11- 51
flfflQ
fl<M1tin1exch1np rate 105
floo, ,pace 34r
flOtJrl.ti 53
to fluctuallt HO
flutnt J()
tlypo,ier 73
foa.m 481
focu11roup 651
tofollowup f/6
food poisoning 121
toothold, to hew, - 43
footln& 62
rorc:e 85
toto� out 36
fol'9front, on the..
tofO.-.go 76
to ,-1g11: to,-1cndirtKt lrHHtment/FDI 104;
foreign inwsted errt•prise/FIE 105
fo.,.m,1n 23
fo,-mo.-t, lo put 1th .. 61
fo,eninnor 50
toIorio peth Il
foqtd 81
tormet 20
tounder Il
frectiot1 IOS
ttemework 105
trenehlee 101
franchiMG 8
freud 95. co,poratefreud 'l7
fnudulilnt 96
ffoebie 66
tr•tr•d• !>fct 45
frtfJht ,1;
ch•ri•
trequen!f.!1,l 8
frM"-rSE 75T
kiction PI
frli,p M
tronta,e 73
fron.tiar 6.,
fru_gel 1071', fr1.111hngin.. rin.g J(/lf
futfillment 86
11.lfuol 105
ti)tulflU 181
fund 18; equhy
f\lnd 71; �l,nc<td
.
fund 77'. ftxed.il!leonte fund 77'. money­
mrktt f\lJ!<I 19: PfOptrty rund 11
In fund 10.S
fundl.ng PO: fl5
fund1 JJ; pen,ion fund1 96; to r,i5, funds 43
ll)fumish Hd
fumi1hlngs IJB
futurN(C001rKI) ,,., Cu!ftnçy
fututH 76; fin11,c:ialfutu,-, JJ
o
,wr
mtatit
,e
G
gadgetry 1201
gaJn 39, real gel:n 52
gatdonoourtyud U8
ge1r 56
••.,1,,.515 82
g-rat g•Mnl bu1.i1Mss unlt
(GBUI 901; cel\efeUed�r malnten,nee 1()1;
pnartl marc:htndlMr 3'7; a.anaral
partntuhlp 119
to,enel'8te ,5; togt"ner1�1nu-!'f.at S�
tocenerttel'lpkh,IN 35
ge,neroua t1
get:toc,etholdohb W. 1o gettogl1pgwlthath
l!T
Sifl YOUChtr 120f
alna•r
aWe.:to glvesbtha noci 113; togiY•
notlee 30: te gl"'e preterenee toab 6: 10glve
sbarundownon1nh 98
n
16-0
toglare J5
clartna 91f
to1o down well 25
1lob11lwarming 5b
&loballtY lfllT
&louy brochu:r . 90
&Oodl: b,.nded
39. manuftcturtd
45: toftaood• 417T; tostock
good, 35
to gowrn 82
tO\IOmmont: 1ov•rnmant Dond 74: governmen t
budgeluy oon.strainl s 10l: gov•rnment
deficit 105: aowmmant &e1vic., 45:
1ovarnmentspendln1 f05; 10ternmant,1
,gerq, 851
toa:rab 7T
ar.ib,, to ba up for,.. 122
tc>gflldu•t• from hlgh ,ct-ool 7
areduatlon 9
grant 61:75
lGgrant 75
arusroots 53
grat9d 56
areaci 96
&rid 112: off tht &rid 112
triP: l!)lf'HO gr1ptwlth lthi 7ST; to IO.. )'OU,
gl1p 56
ll'IX•tiH 35
groc,ry•� 36
JroMdomfftle produc:t/OOP 46
ground,bnt11king d?
tc>growone'1 cu 1tometba.. 32
arowlh 18T: growth mtrk«
arowt.h
.... 3'
1rud&ln&IY" 31
auartntff 80; - arrtn,tfMtnl 80
1uar1ntot 80
1u1ded mlNUe U
gul fHling lt4
,ooc1,
c:ood•
,,r:
H
h1bitu1I 6.1
toh•&&S. 78
toh,ndin W. IOhandlnycurnodc• 23
hand.latt•r•d 73
to h,ndle ath IO
handlin1 41: "" ot h•nd.Jln, 4!f
hand•-on 12
t11�rti111n 20
tnharden 56
harden.d 56
hard-worlcing Il
hankl 26: hanl..t,.. df)
h1ul1ge comp.any 47f
ht1d of buiyln1 35
hHdquatters JT
hetlth ear� J/6;
.. cott m,n,pment ,,,
he11Uand 3)
tGhe.lW 47T
t(>hltdg, 77
htfty J){U:• kitty f22
hiafl: hf&h Ml worth r/", h�&h-profikt 12'2;
high-sp11c 1207
tGhfel'IUght alh 8
hlklt 105
tohi:ndtr 105
hln.ge 56
Mv& 123
HIARo\tenue11ndCu1lom, J/9
tioatdlng
llo1d,m11t � ohb 20
ho�mahtr 42
hooked: io btQOfflf - on ,t11 66
hospilallty .f9
to hOal 7
tio,tllity 69
hotcakes, lo sell like fOlf
n
housin.g: housi.n.g project 20; ho111ing
tub,kly 7T
Hum1n R:etources 8; human re.ourc.
managomonl 124
I
lllitereey 105
llllttrate 105
imagination 7
lniminent 96
lmpDCt 15
impactful f13
to.,. pede /()3
lmptdlmtnt 63
lnipMeeUon 55
tohplementtth IO
lmpltmantfitlo1t 551
lmpli<:lt 85
tohply 85
importation tH
toi'npott 40
lmpre.niY• 22
toimprison 103
lrnprltoM'ltnt 97'
tobtlnonthuct 122
lncenove 6f; lncenttvt proJ:ram JJ6
lncltn1tlotl 82
inc:om,:b usineu incoffl9 IJ9; di spOsable
Incorna 76; ftlctd.lneomt tund 77'.
neHl'ICOl'IM berort t,x 118'. real
incom• 57; so,irc•ofi:r.conw 75f;
to mow, up th• incom• leddtr 45
lnconv,anitnc. 29T
toinccwporat. 120
lncubélltOf 86
tolnc-u, 9JT: ll:I lnc1.1r çoa,t, 78
;,o lndk:ltlt 68(
tofflndlcatlVeohth 73
indlft.r.nee 31
h�igenou, 107
Iftduatttat but ,,,... rna"8Jp mtnt •talt-tant 9
industrialist SJ
lndutlry Il
iMqu11ltY •5
iMlpenSMI 12(/f
lnfant mort,Uty 105
totnflalt 96
11\ftation,tete Of- 7'
/1)5
lnffux 41
toinfOtm 113
lnformation ffow 55T
i npdi•nt h
lnhabitllnl '"
ln.111,.nt 85
inilial cfmp 74
inltltl 116
ln)tl.ttlon 55
Innate 14
lnput matel1al 54
lnsldertrading 95
lnslght ?3
tofflsltt on ilh 32
lnsomnl• 13
h\llpll1n&: ,2
lnttlnot 31
to fflstn,,ct5!>1todosth) 30
IMul•Uon 56
lnturanc&polley 48T
toiflwte 16
lntanglbM! u&eu 98
in.ttnt 103
lnt:trcon1Mcted 4A
lntarest 14; lnwrut-ftM J5; lntar
..la:,oup,
105; lnt"9st rat9 7-4: inte,rest.r.nec:ut 74
tolnterfere wlth ath 73
lntart.renc. 103
interim ,tore 54
1.-
i.nteriot 111
lntern- 1
lolnt.tn 7T
lnternational Monctary Fund 52
lntern,hlp� 6
tolnt.rwne 91
lntHUnel p•rfottUOl'I 51
Intricate 56
i.nlrinsic value 82
il'IY•dl• 85
lnYalid 28T
inventivo 73
lnv•nto1y 55
lnvHtl.aation 96
l:nv•atm&t'lt lnve-atrnent erlt•ll.e 76;
IJMetm&nt tl\l,t 77: tor&lgn dire-et
IJMstmtnt/FOI 104; ,-tumon
IJMatm&nt H6
tolfflllt• ath 52
invoiea 981; commo,d1I i.rw"Oice 48l
toln'Vol\te tth J8T: to be lnYol\ted In tth 40
if'O(I ore 131
i.ssuo 71;
tolMU. 28T: ;oluue(bonds) 77
1 ..utt
Item 35
n
J
IObejldedabouUth 33
j&II 96
lo jeop;ardir• 57
job inlerview 7
jolnt 5Q
lo jot down 16
Juda:e 122
juritdlçtion 103
K
kMp:IOkNpalwe11tofsth 77':, lokffpaneye
on sth 95; tokNp tt.h in check 63: to loeep
tflCkOhth 94: IO keepupWlth 8lh 7!
b,y: 1c..,. component 1J3; by roa. 50
IO by sU! iri '18T
lotystroke 32
kick-offmHti '\i 88
toktt ab out 24
knowln&IY 103
knowledjHbk 29
L
labor. dMslon of labo, 88. labo,
COSIS 104; chlld labor 81
l.xk J4
IO la., bohlnd sth 105
la1'11 94
IMtin& in1a,est 10,f
launch 66
tolaunch 10'/; to l1u11ch sth 38
law: lawanforcement offieer 10:J:
tew sdlool JtoT
1.-ful 103
lawyer 30
l•r85
k>ad lewl 51
le8dUme 55
ln.n 55: .. manuf.ctvrin1 55
k>.as& 82; I freth lease of lift; 112
leasehold fmprollffllenta H6
leetu,e 38
loctum 38
le-dger, gener11- maintenance IOJ
i.,,t IIJal 1ctlon 3a legal challenp 13;
tagal 1truc:ture flfl
1o11,11t1on 119
lelw,. time H-t
lendlng crl'lerle 8/
lol\flhy proct-du,- 105
lettcring 73
1-,ragol!i 82
11.ablltty 51; 77: llabltltle, 96
IO be li.Ibla 971
lib41n11 Drts 98
IOIle.ne• ,th ovt 120T
llf•: llfe •�pact•ncy 105: tf'8 lnsuranco 3Q; lire
apen 78
Uhllhood 13
lilt.. mi.ndGd 8J
1itM11gt1t
llmlt1on trode <16
IDline 73
lln& fl'l81\8ltf 55l
11,quld 16
11,qukUty 76
11tet1IIY, to taketth., 55T
IOllw up tosth 69T
llWlll'IOOd IO.,
llvlng: tKptnMI 75
load sequcnce 47l
loan 7S,, 1o t1b-out 1 loa11 75
lon.,w lty 62
longshomm1n 47l
Ione-• nn llondt l.sue:t 98
IOOMY-JOOM)' BST
56
IOIOMyrouqrlp
:
10..
10e1-m1klna; 105
low-skill•dwagH 57
thtlowdownon tth W
lucr1t1v• 73
ssr
m:
M
merttfl and 1cqulsltion1/ Ml.A 104
mKhinery 10
10m1Jnt1Jn 26
m1jor 6
IOm1Jor In •tti 11
ma�c>oolfr llfOIIUcllOrl 54
man1gcimttnt fM 76
manpOt,1,1&1 <Ili
manueUy 56
1om1.nuf1cbue 19
rn1nufaetu..
d goocf• 45
manufaçtu,.t 9
manufacturing(•etorj 41
marketrewareh 65T: m.arkflruea«:het 64
mart.t shere 35
martoatin.g .rtc>tt 64
m1rr1,,e ot convenience 9D
IOm111•ge the flgures: 05
maternltyleaw J7
mlture 118
maturity 76: maturity da.te 77
m..,or 77
m•anlnaful 12
me1ns 66
meuure, • - or 6th 56
IOmeasuro 104
meuurable 70
meuurecl ere-ep 56
med'laeove.ra,e tlt
medicai bUI 1'6
med'lrwal IJ5
tomettdown 56
mereh.andlee 34T
merch.andl•r, pneral .. 34T
tomerp 69T
mertH' 91
metti networtc 58T
mtlk,ound 172
ml:ndset 107
mtri!na 105
ml.r-lty InterHl 99
IOmlnt mo-n•y 43
mlnutes 8!>; approvai of the mlnulff 80
mtnute--teker 90
ml.c•lllneous/lAttc P9
misludin.g 66
mi11ep1cscnt1tion 100T
tomlM�toneth IWT
mlulon s.tatement 116
modost J8T
tomodlfy
mold 55
inom-end-pop sto,. 34
monetary 71
money-merket furd 76
to monitor 13
monitorif'IS 51
mood 13
mOtUllty: mortatlty r1111t J�
lnhnt mort,flty 105
tn0tta•P 82
motlon 55T
tomount 31
mug1h0t 24
munlclpal gov•mment ,,
tomutilate IOJ
,o
N
n1
, m1to, 25
to narrow ,tti down
national bordtrt ,,
n.sUOn-tt•tt 53
n.atNt 85
n.1tur1I gas J05
negeUYe 3oodw1U 99
n•gllgtnc. 97f
negligibh .'f8l
negotiabla 7
ton•1oti1bt 19
negotiation 18
n,eodym1um lii
n•t: hl&h net worth 77; net lncom• btfo,­
tax Il� Ml tarciblt HMU 99;
e
n&t va1ue 95
newly industrioliringeconomy 46
niet.e: nlche market 62; nlche m11ktti.ng 64;
n1che product 6f
n.iJ:htmarish 76
nimbla 4J
Nobel laureate
no.b,ai ner P8T
n«I, toglvub the.. 123
nomln,lnh,,e 77
no-n,3ovtmmtni.1 orgenintlOn/NGO !J
noteble 56
notic• ?':'i; logMt notice � tol!arld lriyou,
notke 13. notice, tbort 10
tono,ify ,b 28
notion (,2
notoriout 7J
novlc• 77
n.uisanc• 31
nut 55
nutf1tlon 6,6
nutf1tlou, lf.l1
nuttl'lell:toput ltln6• 691
,s
o
d>jaedw 12
obll11tion.s 2-t
to ob•rw 9
(ll)f.tacle JOl
toobstn.xt 103
toobt.1111'1 7T
tooc:eur 18
oft off th& 1rid 112', otf the ,ack 1k
off.ti
. alanot tbe-et 96
of-fence f/6; ladereloffanc• 103
offl,:.., ma.na,pm•nt 71
tooffl•t sth 52
offsho,. 101
tooft,"<lfe 101
dfl:horln& 32
cnshore IOt
161
Alphabébeal wordhst
open hou.se 90
b><il)frat.e 10
operatkuw1I lan.gwp 33
operator 47r
ordH lnttkt 54
orianlc TT
org•nietlly grown 1()
tooptrorstti r,
outcomo d1
b>outdueloneanother 62
outlot Sf
lòbeoutnumbo,..d 46
tooutperform 38T
output 23
O\ltrflbt ,,
out,ourc lft& 32
tooYtrt)III 291
toovtrehe,ge tb 26
b><Wtreome 15
ownln1ft 82; o.re«lniftfacility 15;
o.rerdmtlimlt 75
owrhead J)O'"tline 113
owrhe.ads 1J5
OY&ltO'J'ed JT
11.>0Ytffff '16
ovrtl'tlght 95
b>owrtute 1()()1
lt>owe 30; to ow.sb,.napolo.n- 79;
owiflg to 105
0Wnt1'8hlp:part1)Wl'lttthlp TI'.
i
par tial ownersh p 87
p
pace 56
pacb&II\C 04
p,t(:kln.a: 11et
peddlng 481
paddle S6
paid leaw tft
palt m
pallet or
panol: panel di.Kussion 7;
paMlofjudps py 122
Pfrl li
parti•I ownonhip 82
partlcular1ty 92
p,rtlMn 122
part-ownet1hlp 77
partnenhtp, cenerai- IJ9
pa.r.s::lopusal,w 71'. 1Dpasstflebuc:k 6.S
pu1lon1te IP: tobe paulonat. 11>out 1th 122
1Nt4-l'M}' i.ave ,1
patianu 2PT
lbpalronUO 47.
p,y-: l)ly c.vt 61; Pl!Y·by-l*formence 23
payment fi11.-d hrtere.st paymo,nt 77;
bala�orpeyme-ntedffk:lt 45
topayrolltb 6J
pHk JDfJI
ptl�d c.p 2,
pMrs 66
pellotizod plHtiC 56
pen,,lty fN 75
topenetrate 9J
l)HWloll h.ffld• 9,6
l)tfCOpfbl 52
PHC•nt1ge )2', PHC.nta,p incre.aso 104
toperfOffll 70
pe,formonce J5; perfomt•nce r.tlo lt7:
pay.i,y.perfonnance 23
,sr
...... "
pwmanant contraet J8
po<mi.Hlon 9)
b>JHtrptt,.tu cri,,,. 103
pwslstence 114
pH$01t8l1Hd Jl
PtflOftntl ld•ptrtm•nt) 9
pestic-lde !J.3
162
pel (aubjec-l) 104; pet PffW 8
ptlarm�tlul lT
plck.up sorvic• 42
lopickup 105
phct.;irt 38
pii• 8
topilO 35
pu,-r1n1 q
IOpin.point sth 60
10pitchto8b 11t
pitf11I 82
to piace sb sornowharct 11
pfent 23: plent 1nd ma,c:l':lntry 98
to plHd for ath 51
toptt,<1,- X
ph<l&ln& erru,pment IJ(,•
pt11mblna ,upp&IH 9 8
I OplJ:mmot 1081
to�nce 1151
point>Of.. 1le/POS 47
IO point to 76
topol'ic.o 971
policy 42
potlteftMt 33
pollutlon J2
potJ•tyrent 481
potJurethane 481
popuf1tion. deruity 39
port '-1'. porto fdlaeh1rp 48;
portotlolldlf\C 48: por1e1or1g:rn ,e1
portfolio 7T
posh JS
topoul'ld 56
poverty 44
powH: power conwmptlon 581;
cot�lw power 84; dlttril>uttd powor 84
IOP,81• 13
preciou, metal 71
l)(odOCHSOf $8T
pr..:lettiMd li
predetennlMd 71
to predict n
pt..:liclbi 13
p,..:lomlnant!y 40
ptefab housing 62
pretelftd atoctt 981
prtllm.lnary 88
ptM'llse bJ
tobeprepuedtodo•tta e
l)(Hident of tlleboud ,U
IO l)fOU lb 40; l!'l PIHI ftad lJ
l)(ffli&io\11 ,,,
p(icln.g stralllJ)' 117
IOpridt OntS4tf on 1th 3'f
p,lmary.primaryd,ta 64
primary product J05
pt"lrne 341
p,lor 75
p,lson 1entonce 96
f)l'lvate: prlvatec-onsumpUon !OS; pr1Y1te
1 1.mli.d comp1ny/Ltd.9S Jl9; privai.ly
held H6
probatlonary perlod 18
toprob• SO
p,oeff<la 127
proe•t�dowMtrnm .. S4
IOP")COH 9
proee,seln,c •t•ce St
prodi.ICI •upply 90T
prod11Ction: pfOduc-tlofl
(dep.trtmentJ 9; produc-tloncycle
557; produc-tlon hcillt)• 23: production In
sequtnoe 5'; mak•loorder
productlon 54: pull f)f'O(luç-tlon
method 5,t; pushproductlon method 54
prole,.lon 97
profeulo11el joumel 64
professor of produc'lion openrtion1
m;anaa•m•nt 55
�be proflcitntln(alarcnge) 9
profic:iDncy
proftt protlt m;11·1tn 36T: rei.lntd
proflt 120; to turo , proftt Jl2
pt'Ogre• ll'IHC.ln.g 88
proh.lblte<t 73
pf'Oje-clion 54
prollfet'11tlon 85
pf'Omlsin,g 8
IO promc,119 1th 53
promotlon 16
promotlonoldlscountln.g 36
to �• pronit to •tt• f;S,
pt'Ol'IOUnctd 110
10proo�ad 20
10pt09el 17
property 76'. property devel�t 24prope,ty fund 77; property
awner9hip 76: proper1y ri&J'lt tOS
p,opoul 6,87
11,J propose 72
Pf0$1)Kt (of) 681: pro.peete 35
p,otpoctNe 22
pro1petlty S5T
protectlonlsm 45
ptOtotype 1J5
pt01erbl1I S6
pro,kler 27
pro,,ision. 96: to ma.ke provi1ion1 78
pub tic: P',lblic lhilted company/ PLC
119; public NCtor 105;
public.lytract.d 96
10publk:b:e 117
pullproducdonmtthod 51
10pu1out 35
10put1leh 52
purchase 35 purcha1eirNOice 94
10putt:huo 77
purchulng (departm.ent) 9
purchasing powet 3.'i; parity J()A
topunut (1 potkyJ 53
puf"luhofobjtcttvee u,
push p,oduc-tion method $4
put: to put • et.ra1n on 11> 19'. i.o put lt 1ft a
n11t,hell 69i; toput,bln th•plclllnt 651: to
put 1th foremo1t 61: IO put the 1queeN on
1b 361
pytamid, bottomof the .. lt7
,o
=
Q
IQquadrupit t07T
quarllir 96
JoquHtlon llh 13
ques1ionnai,. 29
qulttftlg time J/
quota 45
toquott:toquotub 481: loquotie 69: tol>e
quote d on a 1tocttexc-hanc� 81
A
rK"9off1he- 8
nge, tobeall th•• 122
nJd 857
10ral• 19; coret.. thel>tr 63:
to raiN funcls 43; to raiM mo� 77
rene-e e
torank 16
rate 48; r,.. cf inflltion 74: savlngs ra.. 76
Ut!J\g 4/J
nw m1terlal1 45
rHCh 112
readlly 73
re.adjustment 23
real: real gein 52: �al liw:om� 52
real w1,e •5: ,.,c•II 5J
torHH!rt ,O�
IO rcbound 77
to ,..call (produc:tt) 51
rec.lpt S2
receiwr 66
reot.il!'INblf battery 291
to 1'9ckon 35
teeord 31
t:i recoup o,nonoeyl 26
l{l teCO\IOr i081
tecowry 1081
tec.ruit 2,1
lu rocruit 06
reorulWr 17
r.c.rultment J
,-«•111•• ss
,-d, tobefn t he .. J5T
redMtNbl• Pf*1-rrff stoek 99
,_d..,..Optntnt 20
redul'ldanq, 18
Rdvncbnt 551; tom1kasbredund11nt .ill
reftt� l'. wlUi refennee to 20
to ,.fine
refrac.tiveorror Hl
,-tund 26
tefuHI 30
,-gtrdleHOI' 53
to reglS-ter '15
Rgi.sbtred 111,1if .'JO
reguleltd
n:, b• re&\,lle�d Bi
teplatlon 181
regul1tory body 97
1oreje-ct 33
to 1'91tue 73
11s
n,
..u.,.. ,2
re�tance 40
,-k,,ot,nt 66
tOl'tlyOl'ltth 4r
,-m.dltuon
f91110t.e 58
,-movel 73
to remul'ltrttit 23
twm.une
. ntion 7J
,.nrninbi ros
r.p-,m•nt Plfiod 80
repetifflllt 56
,-placfmut 26
,-portln,: •t•ncl•rd• 9,r
tepreaentatlYe/rep 27
ieputatlon 71
requut 6; upon requut I>
IO ,..(lUI,.. 13
recauil'9ment 71
resurch 1nd d-lopmont/R&O 62
tH.idence hall- 80
,..,ldentllle,..izs
to ,..,;171 96
re
t'UlgnatlOll
95
,-touiwM /{;1
,-aourc&f'U.IIWH JJ
ru�etlw 107
respectlwly .)$
,..,ponclent 64.
,..,l)Ol'lllblllty 19
ruponsiwness 86
to re,1,t� 96
t'Htrletlol'I 42
to ,..,truc:ture debt'(s) 43
tutrueturlng p1a11, 9()1
....... . 6
,..tall market 72
retall l)ffce 36
retaller 3,4
retalling J5
t:i rete.In 35
,..taln•cl ,.tai,,.d e.amlnp 98;
retet�d proflt 120
to reullate 103
retaliation 45
return 70; retum on e'-'ity 118: rcturn on
lnYMtm•nt 116. to klo,t murm 82
t,rw,mp 40
IO UWHI 687; IO rewal sth 23
rwenu• 38; HM AewnuundCu,tomt 119
rwlew 89
IO rt11iew 94
tlde, to takt ,b f« • .. 751
rigidity 56
rlOt ,,,
ti rlp si, off 43
rippto ef(,act d
"""
m
,o,
27
ro rullt sUi out 82
run-down 105
runnina costs
rural A3
eo
s
..,.11et,1r,e- .., fl
"" cuttodych.tr,e 7S
ro safegu1rd 57
umn.g dete ,8
"la,y 71
s;alarym•n J.f
nle and leua seheme 82
ulea: ,nnlAII wlH 36 ulos cle,t 4Q
1,1.klseontrac:t 26; Hles figul'llt 6$;
'8iH fOtCe 71; t:i Ctnertte r.tpld ..1e.
um.Jlle ço
IO HndWk:h 69{
"tl41é1Ctory 27
Nlurolt.d 387
sallJntiOn li
Ul\'er 81
RVings 57; 11&; swingsaceou.nt
t1Ying1depo1it 80;1,wings ralt 76
....,., 66
sc1t1bl• J23
tc81e 45
35
m:
"'"'
42
seensrto,inthebestcue- 1001
tchedule 6
ro sch«tule I• mNtl!\11 88
acho,..r 82
to scold 31
script writw 697
to Mal 56
..ctlon 103
MCWity 76
tecutlty t:u•rd ti:
teducttve 112
ul&cted 66
te!K-tlvtty 69
selN,..ssment 119
Ml,..mpl•d tBT
<o Nll lib hoteake5 1fY7
seUin.gpoint 697
tentlble 5,6
Mntltlw 481
(O sorw time 96
tel"liet aeetor 33
tet;10,etthett1,ee foreth
toMt up 9
IONltle()(ISth JJ
eettlement !JST
severe 1$
s.ho1k:8out 43
shanl}' town 81
s.h•p• Fqrm 17
sa
eo,h,pe 15
•h•r• 76
,e
te.,..,,..• �
ti rocht 105
roub.. Il>&
to route 27
rout• tltM 47T
royalt)'
""'·
sheet 56; 48,.hect 72
shelf 56
shfft 42
lo 1hift 46
IO 1hlp (e:ood,) 281
shlpmentcondltlons 28
tl'lipptr
ahlppln, 481; 1hlppln1 add,..H 217
shopfto« 55
ehopfront 73
shoplifting 38
shopping eart 37
4hort nodce 20
lo be lhort-t!swd 20
•twrt,
•t tt" 1S
to ,hre-d
IO 1hrtnk 61
to thun 32
mk;ek:klef'V• 1r, tobe,k:kohtl\ 71
IO sift through sth 47
li,g_ne.p 73
sl1nl.fic,1nc:e 53
sltYOr bullet 02
tlte 18
sltl nc (of bltlbwtd1) 13
,k...lOft 56
to ,klrn 9
slcin c;1re Hl
IO tklp 691
to 1kyrocic.t 43
lo slash (pric.sl 3.S
steek 60
sfide 61
slip 27
&.hereholder 77', t2C. •hareholders' �uity 98
tk>ppy 121
lk>l 69
ttowdOINn, kOl'IOn'liC- 43
tmeU; amali and medkl,.1tr.ed enterprlM.1/
SME 105: smallarmi ?O;
the snHII prlnt 751
tl'll8Ul•h 56
lo 1mooth Hl
snaH 56
IO f08f 105
sobKing 31
sod•l••fety net ,15
...,, n
&oft goodI 471
to ,onen 24
so&.r JN.NI 11.1
soll proprietorship- J19
solttraderS:m 119
sound 93
sounding bo,t;td Il
source of lnconM JST
sp.ckiu1 62
lo 1patketh up 62
sp.cllt-pu,poteenUty 96
sp.ciatty 3-1: specl1ltych1lnouUtt J.t;
tpee1111y etore 36T
sp« UIC.IH IIl
sp«ul.olof 77
speech 24
speedy
..,emng er'l'OI' 8
spendlna: J..x gowrn.mtntependln& 105
spQoflife 62
spid�r 84
tPC)UM 17
sptHd 4'
to epread JS
sprln.gt,CMird 17
lqUHH, IO put tfl.O- on sb J6T
lo scaultret sth IWl'J 43
tostaclc 471
•tatt tu�e-r Jt
sttp 5': flllC' ot eompletlon 56; IO 1et the
s1o1,efouth 50
,s
163
Alphabetical wo.-dlist
lllstno 122
fttke 77: to haw UU!kit In $t h 17
toat1nd out from tth 8
sla. rfish 8'
ttate: $tate lnterwndon 105; ,tate
support 119; statew.tfar.1.to(y
net IOS; atatHWn&d ttetor J05
tt•�·l*'t-8rt
slatement 87
atttute 103
s1Mlahfft 56
SlNp 52
ftMply 52
Il) stop In ,:3
to ltlelt to tth 35
ttockft) 17: comnon atock 98; stock
ex.çhanJ:t 71', ttocl( lndtx ll'. prtr.rrtd
ttock 98T: .-.dttmtbtt p.-.t..-red
atoek 99: In ttock 28
l:l stoc.k 367; lo stxk (&oocb) 35:
tostoekuponsfl 361
atonia• .q
slontl'MMI.M IDS
tto� 96
1:1,tow 51
atrtddle eatr1er Cl
ttrtln, to put 8 .. O'Ub 19
IO 1t1ain JI}
strettgieweapon 37
to ttre.m.l lne JS
streamli,-d l,J
strei,gth t2
11.l streu 1th 7T
strip light 35
t:atrlw ror1tt1 Il!
tatruute ,2
ttrokt, Il t "' 73
etrue-uu� /J
studant union 75
tn stumblt upol'I alh 1101
tty11Jt 60
su.bdivision 95
In subdue sb 8.S
bsubmlt ,r
subon:lin1ta 87
tUbtCflbtr 66
tub11dl1ry 50
tosubiildlM IIJ
tu:baiely ,1,9. subdllH ,,
suburb11.n .?4
suiddl 98
1uperlor 85
Il.I superviM 1)5
suppU•r 9
,uppty ,nc1 dtm•l'ld ,,r
*"Ppty d1•in 43
•uppott 53: ,tttuvpport 119
in •uP90rt 1001
In sutf,ee 7.J
se
•w-� lOS
su:rg•,y 5J
surplus ,o�
survty 6ST
ltlSUl'Vfl)'sb 17
in ,ust1l11 63
,u.tu,1n1bif1ty 62
SUlt•in,bM $0
•u:•taln� 25
1n,�1ow
tn ,warm wltf'I 1th 471
&WHtfflop '-S
-iftly 1()71
s,
_,n.g
T
J7
teetUe 59
ti& 66
ti tailo, sth kw sth B
164
tlke 011 sth 36T
ti�: a:, i.i. tosth JOl', ttttllcuth
l111tr,1ty 551; to t akudrtlantaae ohth 20;
totaloou.roof sthJ� l�lll:koout,loan 7!i,
tot,._ si>
rldt 751; totek• sth lnto
con1kteratlon 15
tGt•lk lhOp 50
t.n&lb1- oòjtet 103
tGt,pinto sb/sth 107
target:t.,geUudlenee 6i: tetgetgroup 651
tot,rget 5b 67
tariff 45
tnty 71
t,;x: tu con1ult1nt 102: tilt cr.dìt 61:
'80UYHIOn 93'; taxe, p,ayabM 98-.
retum l'II; netlncom betore tu: 118
tlx.able H9
tlllAIUOft 9
tllCp,tyer 53
tec;hnkal jngon ?V
t.eetonic shifl ICV
t.mplote 38
temponry 9
tobe temptedtodo1th $"
totend (todo 1th) 2,
to,,
*
...... 2()
te1Tltory, to e<Wff • lot of ... 90T
C.ll.l{rnesus.•l .'i.VS 77
teJttboolc 46
tttert 25
tothink outsicl•thebc. ,,
�ghtful 123
dnnt 1'
tc.>thrHton 23
dulUed 7T
tothrlve 62
tf'lrlvln.& 122
-··
ties 90
timber 76
time oftr1nt:1t ,ar
tinr.d food.s .'iS
lt>tiptoe 1round 1b 43
TiVo 6?1
toll-tr.• 32
tonne 56
toplç1I JJ'
to totaI 381: 10 totll 1th u� 37
touro.,.rtitor 13
lOJt.ic 51
lt1clc, U> kNp - of tth 9-t
totrack
tud1ble product 52
lt1d• 4'; l!mit1 on tJld• ,6
tradt b•rrier 105; tradt Nk• 52:
W tra... )'7; pyblidy tu.....- 9$
trtder 43
tndln,e; tr1dln.c .CC<IVflt !Il'. tllldln&
partner 10;: lneldlrtr.ldil'lg 9;
totrtll Mhind ,th 105
lt1ining {)
lujectory J7
tnnHctlon 9'
tnnscrlpt !!i 6
tn�I orstn.lZl&r 8
tr..dmfll 29T
lrHWI')' stock 99
totttaUbtoath 17
ttlbal 121
lfllllon 381
trooblea� 5J
IOttump 62
ltust buste, 52
trutllful 103
Whlon: tuitlon fffs J,f;
tuttiontelmbureernent 17
toturn • p,oftt H2
tu.,ning p,oint JDBI
,sr
tumover 39; emi,lq,ee tumo,•r
1i.ff tumo\ltr J9
tu:todo- 17
lypo 8
u
n
uttlm1i.1y 53
touncowr 977
underfundin.g 105
;o undetgo 1th 116
under1nidu•t• 6
tòundarmiiw 53
undanerved 112
undertakfna 71
unde-mlued 105
undMded 1ttentlon 29
undu!y
u�ploym1n1 9b, un1mploymtnt
beneflt1 '5; unemplO'fment n11 10?
rt>unfold 85
union 61: unionoftJcill 61
unique JJ
unique solling propostlion/ USP 9
unti tnJlt 77
unNtolty:unlwr,lty dt&l'M S\I;
u111Yer,1tyof1pplled 1clencet 9
un,.cuhued 73
uns«urod 77
;o untt"lle • ltnot 3t
upm1rtcet 341
upro,r ?3
upseale ,o
upstrum p�H 54
urban
urblnlutlon !"7
urtt 1T
UIMgt pttte,,11 29!
uuuuet p,ymentt 10t
utilitycompu,y 30
utmo,t
unerty Il
lN rays .;7
,on
n
ssr
V
{Qvacitlat• 46
vatue- 26: ne,t vaiue 95
v1rltty 8
va,t"
�t1etable 97T
1111ntun1 11.,;
\llll'IUe 88
;overify 281
1111rnacul1t 73
\IIISUI
47
vl1bility ,,,
vii:,•* 24
vlbrtnt 73
vlee1)rul6ent 65
vlew, In - of /J
tovlolate 51
vlol1tion 105
vlrtu11ly 77
vln.illne• J3
vl1ual1y im5Nirad 60
vlvld 751
voe1don.l tr11n1na: rOS
VOCiltion.ally qu1tified r05
to\lolee-(eoncema,ete.) 23
vo1,t11e 557
vol1tility 77
voluntery 66
votln.a: tf.gtlt 77
vouchl, 26
w
wa,e 4&, rulwage
tow1lve 1th 76
wa.Jver m
45
tow1k.eupto1th 81
wan�be 42
WIJ'8hOUM 4!
wuohousing 361
towarmto,th 63
w1ru,nt 99
Wlrftnty 26
wuw man•a•m•nt J81
water purificalion 112
watitra-hed 45: to crou a watel"llwd 45
WHknfM t4
WHlth, I - of 87
WHltJ& J4
welJ..to-do 107T
wN•U.,. to bi- ti.. .. O&
whl&U.blower 96
whltecollartmploVM/wortotr '1; whl11H<1li.r
towl'liten JIJ
towhfttle down J22
wholofood J8
whohult 43
widtfy 46
lobowillingtodo1th 71
w1ndowdrentn.,; ll
wl1dom, col'llfentional .. 7'
rowlthdrM (e productJ Ili
wtttldrawal 29T
10w ilr19H 1th 3t
wo,d-of,moutl'I 65ì
work: wort( ethlc 551; wor1< p,te,e 23:
worti: placemo-nt
!
workforee 23
wo,kln.gcapital
118
i
wcwk n.g 1chodul• 16
workpl,ce 10
World nk 53
WorldlltdeOrgtnlztUon 52
Wltth 73
w·rinkle 111
wron.gdolt"C JtJ
E
e,
V
yield lii
toyidcl (IUCCO-tffl) 62
z
iealou, 53
165
C<R.ror tottor� f.12
I wou!d l'ke to applf fO< -·
I vrill s111du11re v.i.!11 a Bl,::helo1/M&11!é1 -· frorn 1he
Un'.wrsity of ... hia wmme-1.
I read at:<1U1 ·- oo !he in1«net atld was imp(eiiited
bf (camp,..,.'s mine) prr.ifile and yt:k1r projt.wi
in the fie-ld <>f ·As a student ot-·· M.-e gafned • th()((lu.gh
u11derst1ndng d ·- a!ld hi,.•e at<eady had 1he
chanceto U9e, rry -· skills i, an intemship
with_.
••1'f te111>:in.'11badle.'lthe1e lr,xilll!!d -·
o� of "'i key stre'lglh is to _
Iwou!d wty n1ueh ll!)f'lre<:iate � opp,or1u11ly10
dlseuss my sultlt:)ility far_. In gieater decaH In l'I
pC'l"OO<'l/11 intcr.iew.
Oescrlblng yourself p.12
I consider mµ;ctt t� be -·
,.. W(IUld be ()l'IC rJ""f �n,gthS.
l'm �ti::uh,rty g0<d al ...
I am used to wortingwi�h ••
l'm vtry enttu.an:56:: o11bout -·
I oo, par:icu!�rtf im:,n:s:.cd in ...
I am cagcr t:o loamabou< ...
Suggestlng p.19
Why don'twe. _?
I &tgg\1SlWhal about ·Would it be l)f)58ble ._?
Woold yw GOn�idG· ...?
Are you �s.:in.g:hat __?
h seema ·What is your ot:1inicn?
H I understand )'OUOOfl'ectly ... ?
Let's go back and eview ttre situatio,i.
0iSCUS$ing p.19
From � �r,erietkle, the b!!SI way -·
lheie ore $C'YC:r;d cptlona ...
lhat would depend on_
C-On*fe,ing 1hit1 I would -·
!=rom n,- polnt QI!vcw -·
I (suoo&fy) beieveltlat ...
I.eI in!! m&kl! !'luè I ..idt!fS!a,1d whiìl yuu !tè
�ng.
I bel:eW'! ....-e boch ai!'H thai
Formai Emalls p.22
Sa/1.(qtiof'l-s
lo whom it m"I oo·ce,n -•
l'.À,ar Sir or M.ac'am
Dear Mr/Mrs/Ms
Dcar 1111
OpetN('lgsan(MC$
l'm wnting lo -� cbrify ,..
_ OO"llitm-�
·- in'orm you . ..
-� fotow up on ...
·- lei: yoo know.�
_ rtq,ue&.< ...
·- ui:,:J�you ...
, •vcryromw
166
IIR,+in,em ,:a,. lff'IIJ'U'y
Thanl:you for yo�rinmesL
rm plea9!d to ael"ll you ·Please find the request>?d informatien attacbed.
I hCf)e you finif thiiJ satisfa:::::o,y.
Shnwi119 �
Confinnir,g
rd like to confirm _
Endlr,g � COJaCJ'Sidon
loclcinc forward to seeinsll'l'fttin.g ...
l$ rhc,e :w,1hln.geli1e I cM, help y,., .,.,,bh?
Thllnk yoo for oollin1,
CMn.& good new,
COmplaining politetJ p.30
I em p�a!led 10 inform you •..
Ycu'II be delighad to hearthu _
Givittg ba!/ t1ffl'$
rm �fr.aid lhat ·We reget to Ulform you -·
thfot1unate�·. _
Apologizktg
I do apotogizie fo.· the d@I�· in replyi,'IS- •4
Mt sincen.> apologies._
I re.a,et -·
I ,ç,clogi,e for fll'ly it1<'l0f'rlf'l'lience ea�d.
E f'dittg
I look bward t<I heanng fromyou.
let me know iyeu reed a'Y)'thing else.
Do noi hesitaie te gel l'l touc:hwith me if you
h.r.-e Gn/ 01het �soors.
Thtonl:t for you_r t-.lp.
a...
Sinoerety yoors Mi!!I
Sineerety
Kind/3-?st reg.a,ds
Regards
Be!lt y;ish@s
Customer service on thé phone p.28
$li,rflr1g Il cor.•'<1'Ul/on
Good moming/ ;:,her· noQr / cYcni"i· fhis 111
(n1,me). How c111n I helpyou?
lh�nl( you for czilU"S{t:r.mpMymrm:J. Thls l:i
( ...), Wha.t c,1,n I do for Y-)U?
Could you tel: me,wha1 v-i're ca•ns abo11t,
Sr/Mad-am?
Ched.bg itifo.rrru00/1
Let me repeal ·­
Doe.s thai mean
lf I undetstan�ycu c«tecdy -·
Could you tell me etactt,...-hat hapr,ened?
H
Pt�cirtg $OITIC()l'tt; <1n i,cld
Could I pu! �J o n hald fo1 811'\0ITWUwhl� I
c:hcct cn th111 l$$UC?
Would yoo likc lo hold for" moment orwoukl y,,u
like f(II' me to oall you t>.ck?
TraflSfrmklg a c�R
Let tM put ycu in touch .,.,;.,.. (()eparlmefi/Pe,son).
(-.) Wuld be ablc toh�t>dle th,1,t for you.
r11 &ee i I can put you througt'I to -·
I as-wre)OJ�e wiU do our best te-sori out ..
rm sony tohear th&t.
fil eee Yotiat I can do foryeu.
lec's take i l from th@ beg.Ming ard see if we caJt
work througt'I thi9 tO@l'ther.
rm sorry to ha•.-e tOSJ/ this. bUi. ,�
rm sorryto bc>t�ryou, lxlt . . .
Maybe yoo fotgOl 10 . .
I think you migl'C ti.ave forgotten to •••
f"- ffl')'hllw bo<ln o rn',,;unckirv.rand"f'\i obcut •
•
Oon'I &et mewrong. bu:t I thinkycu/we should ...
Apologizing and moving n1gotiations
along p.30
That must h1Ne bffn very anticr;t'lg.
I assure you thtswon't happen ai.ain.
H"°"· canwe reach a comp,omist?
let me e,cplain our poaiticn.
I hopeyou can � ou, J'.)Oint -0f vttm.
Whnt do you suggesl \<te do?
r m iure we ean find a S<>tuùon te -·
Talklng about numbers and
flgures p.40
Tt.:: gr11ph/ch1111 clell1ly �IQW$-·
.. h;i� 9n9-1h!f'9 of \ho marlwt 2),n,,
·� tho grtM'th tate i'letea.sed/dce,:,ased when -·
·� rarks lo,t W(h an onnvtl proRt of qn� ••
Thcie hllS bcen li rodica! pnoe wl,
Il may be neces.sary to hal<A:1/do.tle wr ooets
oon,;l:le,ln.s ...
Vie ino-ea:scd:/<bcreai:sod our s.ilcs ll'j x,; IIJSI
yoar.
Ann!RII sales ;:,re <:l5dm.ated lit €X bilrlon.
Summarizing p..42
To sum UJ), we,'w looked 8'! ·Basical1/we ha-.-e mo optioni. Eit-erwe .. or
.....e ••
Our sales r,e,fortrl!d uùsfactcrilybeeause of -·
Ttiswasdue to ._
I think this ...,as • re su!t of...
Taking al lheiie poina into .ccou n1, I W'Culd ..
Oisc,ussing p.57
In "'I orJnlon ..
lt seems to me tl\at I l mig.ht be lhie ea!II!!thai ...
rm 0011Yn0c<I thllt -·
r m noltSure I 11ndct1ttndv1h11t yo/re $ll!yÌfl8,
rd like 10 make a p,oint hel'I:! ir I ccuki
Mooh ai lwoold l11'e \(.> agreewilh you, -·
I partiaty .igrec. bui ·I tlink yw mfghl l:e v«Ong lh!!«!.
rm i,fr,id I c;m't �,cewhh )'OIJ tt-en::.
Product presentations p.58
lt's a pleasure 10 .,..,eleome you today.
Li!t lllè �l11rl bfuut!lnlr\g th@ n1àn fNture:i.
(... ) oornes ""1th ..
The really deve,- teat1.1tt,; .-e .. .
So wh/lC about its full<':tion11li1ie s?
l , as l'm deroonsttat ing here _
Addjtional y
Aswe all know, ...
At lhe S&l'lle time .. .
FinalV, l'd like <o highl@lll cne by functio!l.
Product descrlptlons p.60
•• jg an ,Mmt,,t produet tha; will help ...
•• la tntoilive llr1d � to "'9C.
The m.iin te,1wres include ••
lhc p,ocluct uscs thc latcst M, tcchrdogy.
Om c:iut1lng-edge tcçhnology ;:,Il�yoo to ·1;.'s fvll OOf'fl)�bihty with ... allON$you to ...
l::sd1mensicns
In 1Cf"m$ of $lOl"�g: �t:iclly/sh:c/v.,efiht .. ,
•re-·
Opww
Presentations p.68
l:'s a pleasure to welccme you today.
First of alt let me say how nice il is to seeyou
hore at _
Let me start bf•N:roducing 11\'&ei, l'm ·- ftom -·
l'm here today to pre91!nt ...
Mlmtw thc /oçvs of rhrtprr:scl"ll�lon
Tod$f I' d li� 11> gjveyou an o,etview of ...
Let me gi�you an I dea or what l'm goirc to be
taM ng ,b0t.1t1 would lite to siart by drawing your attemioo 10 •.
... 1mt.l I ltope )'()I) c:11n ne Yd'f Y1e '1e 111>
<:nthush:istie 11bout ...
Stnxtiriflg
l've dMded "'I pres8ntation into three (rnal'I)
parts.
First. we'll lool: at ..
Thcn 1'11 out!ine •••
FinalV, l '!I g;-�e a quick cwrvie,,v oi ·/.li,ftlghl).-rg Jnlotmalir.Ki
As I mcmioned earl i cr, ...
AOéo1clF1g I<> 1Jie ilt.fi.ey, ous ...
Let me poìnt oot thtt ...
And most impor t;,nt _
l'd lkc lo kloutyour attentlon on ..
S1Jmm1Jf1Zing
Before I move Ot'I. rd like to reeap tl'e main
pcintt:So. to pU1 il in a nutNH: ...
And finalV, ..
lei me btiei>, summarize, ...
T�Nldirwitintq.,CfflOils
Thank you al ...ery ,nueh ror ta'c:lng lhe ime 10
listen to l'IC prcstn:ftlon.
lhanb foryour urne.
And now robe h�PP'/ to tn\JWle, tmy qvesii011S
ycvrn� h�.
Now tACI\ firc aNay w1h any quc-s�ionsyou m.iy
h11vc.
Negotiating p.80
mlcrmlttg Md rf,scusstf1$
What doyou hlWI! In rni,d?
� main re-ason tor _ is ...
Iwould need ...
I could orrer you �·
Propo.,YOg
l$U&R.C$t "'
Would i< 00 poss blc ...1
Wouldyou consider ...?
HCtN do yov feci .iboul _,?
Di.,..w"8�k,ly
Iwould pr-efer _
Cculdyou explaln 1�1 more fut,. ple11!1t.
l'm afraid I ca11'1 ag,ee to lha!.
Hcw can � deal 'Mth thit problem?
S11.ggi,Slin,g Wuo,or,.s
I col.id imag.ine ..
HCtN cen 'Ne refeh a compromiief
Ooyou leel you can aooept ,_?
What doyru thin\: is a t.irw;sy to resolYe -·
�chi."'l ,,n JA#�nt
I believe v,e hiwe made some gcod progreu
Oust) 10 summarbe ...
l
I 1h nk � ;ili ,,ree tie,e thlltI think we shou ld come to a deeisionwithi-1 the
ne�t ...
Meetings p.90
s.,,,;,,,' ,_
l'm glady,,v could all makc it today,
·- hl!t1 $:111 lil:s/he, 1:1;iulo-Kie�
C11n we s::t st;:,rte-d?
Wrlrc meeting t<:d� tO< talk aboot ••
We'II be dliCU$$lr.g ..
... 'NÌII present an oo.ityl.lS of ,_
,_ is going to gjy� us 11111 CM:'tview of ...
8efore we begjn, !et me lntroduoe ..,
l'vc •'<ed you to (,)l,)tl'w:l to discvu -�
Ohcu.tsitlg faclS
... ir.:reaS!d/decl'!a� last year.
Here's a qt.kk °"erview d the situation.
Lers 6rs1 look a t ..
Lers MW tuffi 10 ...
111 oow m:ive on to -·
This was due i:o ..
I lhlnk !hl!lwas a 1@$1.Jt o-f �·
liking parr;,
�v,m
Ooyou w,nt to$1.-t Uli oH7
Wouldyou itc to oommc11t on th.u.7
Sorry to interrup; but I ioel tha. -·
I'cl Qe to m;,ke ;, poìnt he,e if I covkl,
Wo'I come back 10 yoo 1n a momcnt.
l'm nix sure I vnderstand whatyou're 6<'tfl'lg.
lf I unde�tandyou çorrect�.yOtJ think ;h,t -·
�rheps � $hould •.
l'm cof'Ml"loed lhat _
I v.wkf lil:e to ptO?<* ths1t ...
Endi.,g amutJ.-.g
We\'t> deeided that _
Thank ycu fOf'yovt hardwork. I think we've Cotnf!
upwith ab: of gooò ide-as.
I iook forw&rd t:o meeting you egain soon.
Asklng tor I nformatlon p.107
What S't' thi! advanta�s of iwe!ll,ng in ·-?
C11nyou glw! me ttn 16e11 of ... ?
Whit doyvJ me;,n by ••r
Howdo you 1hit1k you ean M:h.M lhi11 soaP.
What ls yovr policy oo ..?
.
Coul�you fili me in on ...1
Presentlng lélrguments p.107
lhere are a nunt>er ol reuona ....
try ·­
rtie fil'81/aeoond ,eason is ...
Wh11t Iw11nt to showyou is _
One (ob-.ious) a:Hant•gecf -· is ...
Wh b chi& n,lght � to be• disadv.:inU.g.e, In
façt ••
l'm c«tain (your OOflll<lll)')will benefit from ...
Lct me !1$$VIC yov we will do oor be$t to ...
0escribing economie growth p.108
o, the lnct'ew..
... in<reased aharply 1"tl
... tOCl:eted to ·- 1'1'
(Gro-Nlh) lll.lfged 10 an.erher -· 1'1'
'lt'e cou'd see a steady increa.� in ...
... f!!"Nby . ..l.
(GrcrNth rate) rec011ered and reached a level of ..
... read-ed a paak of ••
"'""'"""""'
... dcçrcased &harpty J.J.
... �ummeted to •• J.J.
lG1uNlh r;,lc) h;:,:s fti�n d1;,nl,8,l��lly to •• J.J.
... hi: anod'ier lc,,1 ,. J.J.
... dcclincd gradu.illy to _
I thint this Wi:1,$ Il n:::itJt (li·Srarus quo
The growth rate ,em8ned stallie at ...
... malnt.alned thli (high) ri,lé
(Gro-Nth) �d at this l�I for ...
(GrO'Nlh) fluetu:&!!d &fOIJ"ld ...i.
Termlnology tor forms of business
awnership p.119
Generai partnership
Co1por•tion/ Corp,
crine.
Corpor�tkln/ Corp,
cr lne.
Cenerai pertncrsh-p
l'riYa:ic ,mitod
eompany /Ud.
PIA:lclie limited
eompany/PLC
167
Credits
Published by
Garnet Ptibllshing Ltd
8 Southem Court
South Street
Readlng RG I 40S, UK
w.,w .ga metedocatjon.com
Copyright e Comel�n Verlag GmbH, Berlin 1010
lhe righi of Gerlinde Butzphal and Jane Maier,Fairclough to be identifed as the authors of
this work has been asserted by them in acoo,dance with the Copyright, Oesisns end Pa1ents
Act 1988.
AH rights reserved.
No part of this pubication m;sy be reproduced, stored in a retneval system. or trans.mitted in
any form 0< b-J arry means, eleetronic, meeha,lcal, photoeopying. recording or -0therwise,
withoul ti-e prior permission of the Publìsher. Asty person who does M'IJ unauthotized act in
relalion 10 this publjcation ma/ be liable to criminal prosecution and CNil claims fot damages..
lhis editOO is not to be sold in Austtia, Germtny or $nitzer1and.
First editioo 2013
ISBN: 978 1 90757 569 3
British librar,• Catalogt.1ng.io-f>ublicatbn Data
A catalogue record for lhis book is available from the Briti:sh Li>rary.
Every eHort has been made to lraoe copyriglt hotder$ and we apologize in advance for any
unintentional omissioos. Unfortunately, some COPJrigflt holders oould not be determined.
We
i
will be happy to inse<t lhe appropriate acknowle-dge.ments in any subsequent ed tions.
Production
Series editors: K.athrin iòUer (Print}. Marita lampe (Online}
Freelanoe editors: Andrew H;nn, Gary S. Helft, Christine House, Rani Kumar, Rebecca Svme,
Martin Moore, Sue Coli, Oare Roberts
Picture edrting; finede:sign, Berfn
Design and tayout: medesign, 8et1in, Simon Eltttay
Audio: �itchpcmer ltd, Oxford, Siver Street Studios, Reeding
Photography: iStoctphoto, Corbis, Alamy, Gelty, Picture Allianoe
Printed and bound in Lebanon by lnrernatiooal Press: interpressaint-press.eom
168
Career Express Business English B2 Acknowledgements
lll ustrations on pages 8, 26. 68 and 94 reproduced with kind
permission of Thomas Maria Malangeri, frorn Tausendschwarz.de.
'\Vhete work meets pla)I text on p&g,e 17 re�odvced trom
MarketWatch tnc., Thc w,n Strcct JwM, with kind pcrmission of
Oow Jones & Company lnc. Copyright e 2007 MatketWatch. tnc.
Extraet from The Blue-fyed Salaryman on pages 24-25 b/ Niall
Murtagh, reproduced wrth tJod permission of the pubbsher. Prolìle
Book� Copyrigt-< C Profilo Books 2006.
'Victoty forvoices ovcrkeystroM.s' text on pa.ge.s 32-33
reproduéed wilh kind permissi-on of n,o NfJW YOtk Times. AuguM
16, '2:007 e 2007 The New York Times. AII righw ,eserved. Used
tt)" pe<missioo and protectcd by too Copyright Laws or thc Unitcd
States. The pclntil'\g. oopylng. tedi,tribution. or retransmisslon of
this coment withoot express writteo permission is prohibited.
'lhe Germans are coming' text on page 35 teproduoed with k.ind
permission of T'he Economist. Copyright «i The Eoonomist
Newspaper Umited 2008.
Charts 1-3 on page 38 bclsed on information from w.vw,.srore s.org.
'Big Retailers Still St,uggle in In-dia' text on pages 42-43
reproduced with killd permission of 8,'oomberg Bu:sinessweek.
Col)Jright O Bloomberg l.P. 2013.
'Ttouble with Tl'ade' text Ol'l �ges 45--46, reptoduc.d with kil'ld
pe,mission of The New Yort Times, Oecember 28, 2007 Cl 2007
Tho New York Time$. Al ,ights te.se<ved. Used by pennission and
protcet<l<l by thc Cop1right l•ws of the Unit<l<l Sm... Thc
printing. oopying, redi$ttibution, Ot retransmission of this Content
withoot expro$S wtittcn permis$ion is prohibited.
'Mai.n Street Should Embrace Giobalization' text on pages 52-53
from Gris,.,old, O. T. {2009). MadAbout Trade: Why M.ain Street
Anwxica Should fmbrace Globaliub·on. Cato lnstitute. Reproduced
with kind permis-sion of Cato lnatitute. Copyright C 2009 by Cato
lnsritute. Accompanying phoro of Daniel Gri�old, reproduced
with k.ind permission of photographer Matt Barrick.
'GloOOlization \'el'SU$ Community' text and photograph of Helen.&
Norbc<g,,Modgo on pagc S3 reprOO>Ced with kiOO permission of
The lnoornatlonal Socie-ty of Eeology �nd Culture. The autho,
Hetena Norberg-Hodge is the foonder and director of the
ll'lternaàonal Society for Ecology and Cuhurc (ISEC). A pionecr of
{
the 'new econom mtNement. $he ls the aumor of Anclent
Fvwres: Lwning from Ladikah, and producer ot the documentary
film TIIIJ Economics o!HappintJss. Copyright (i;) ISEC 2012.
Di.agrams 1-3 on page 54 taken from Takeda. H. 120061, The
Synchron.lzed Producdon System: Going BeyondJ11st-ln-Time
Through Kaizen. l(ogan Paae. Reproduoed with kind permission of
the author Hitoshi lakeda. Copyright@ Hitoshi rakeda 1990,
2004. 2006.
"Birth of the cool' text on page 56 reprod1>eed with tind
pem-.ssion ot 1n(J Economisr. Copyright <ei The Eoonomist
Ne'N'lpaper Umited 2008. AII righU feS8Ntd.
·HumanV/are' text and image on page 60 reproduc:ed with kind
perlT.s.Sion ol HumanWare. Copyright C HumanWare Group
2005-2012.
'The bet1Cfits of downscaling' tcxt on pagcs 62-63, rep,oducod
with kind permlssion ol Bloomb9tg 8tJSlnessWYJek. C�right@
Bloomberg l.P. 2013.
Ptiotograph of the Microsoft team on page 70 reproduced with
kind permission of Microsoft. Copyright C Microsoft 2012.
'Thc city that said noto advcrtising' tcx.l on pages 72•7J.
rep,-oduced with kind permiS$ion of Creative Review magazine.
Copyright e 2012. Pho<ographs accom�ing article,
,cptoduced wlth kind permission of photogra;>her Tony Oe Mai-co.
lmage of construction worters at the bottom of paW! 81
rep'°duced wilh kind pennission of Pìcture Allìanoe. Copyright@
dpa Pfctu�Aliance GmbH. AII rights reserved.
'lslamic finan,ce mak:es a � into the mairatream' text on
p•ge 82 by Kat• Hughos, «pro<Juood with t;nd ponmsion of
The lndcpenden,. Copyright O 2008 The lndependent,
indcpendcnt.co.uk.
"lhe Starfis.ll and the Spider' audio ltrack 10) from ex.ercise 2 on
page 85 reproduced with l:ind permis.sion ot Gildan Media LLC.
Cartoons A-E on pag& 95 rep1odUCéd 'Mth kind petmission of the
anis< Ed Mclachlan. Copyright@ Ed Mclochlan 2005-2012.
'Produc:ts for those at the bottom of the pyramid' text on pages
112-113, this article is republis.hed courtesy of INSEAO Knowledge
(httg//knçwtedge.inseadedu). Copyright C INSEAO 2008.
'Corp0rate Fitness 8u$iness Pian• text on page 116, rep,oduoed
with tind perml$Sion of BPlans.com. Copyright e BPlens.com.
'Campus dragons: Tt.e entrepreneurial .spirit is soaring across
universities in the UK' text on pages 122-123, reproduced with
kind permission of The lndependent. Co17iright e 2008 The
lndependent, independent.co.uk. Accompanying photog.raph C
The Univetsity ofWarwick (wNW.warwick.ac.uk).
169
Career Express Business English B2 Audio CDs
Audio CO 1
Uril
lrract
t.Jnit 1
I
2
3
'
•
6
UM2
7
8
Uflll 3
9
10
Il
=
FindWlg a n internship. Ex.ercise 4
Fllding an inlernship. Exet"ci58 5,
Mare
Flfldì1g an internship. Exe<ci38 5.
Jennilet
�widM!g �o ;ntcm�hi� Eic.cuci-:.c 6,
Marioo
Fr'ldìng an inte,nstiip. Exe<ci!e 6.
Brian and Simon
Tall:ing � professional 11re.
Exen::ise 3
làll:ir'rg � profess:ional life.
Exerdse,
LfA.Rlhng t o llsoon, ExereiSe I
Evaluatmg IP.lepllone performance,
Exen::ise 1, Convers.atioo 1
Evaluatmg tc'cpllonc performance,
&'.étcise 1. converuuon 2
08:50
01:57
01:34
03:28
OS:22
02:42
03:08
02:36
15
Tue b,-eS1 p1ices around, Exercise 2
03:18
17
The conta,ne< re-;olutlon, éxercise 2
19
Saying the right Uwlg. Exercise 3
14
18
20
21
The bW!Si p rioes amtind, Exercl� 1
Ullde<stardflg ba< aoo p i e cnarts.
&:c<CiOO 2
05:??
03:3�
04:47
Business to business (62BJ.. Exercise I
02:24
sayirig th& �t thit!g, wrciSe 4
01:13
Saying the right thing. Exerçlse 5
Total runni� tine CD 1
02:12
00,35
61:31
Audio CDs
Rocording:
Switchpowcr Ud., Ox.fo<d; Si�r Stroot Stud:lo�
Readlng
Sound cngioeer. Julian Elkan
Julian EJkan
Proclueer:
Voice.s:
170
Genevieve Adam, Helen Ancleoon, Jilly Bood,
Tom Clatke-Hill. A.ntony Gabtiel A�anch B•
..iarris, Sanj Hi:7/re, Jay Sutherlan d , Marcui;
Taylor, Sandi lume,
2
Exerçl,e
Protfuction and ils maM81!menl.
€xcfCiS8 2
PreseOOng a produel,. Exerclse 2
3
Passing the buct, Exercise 1
•
Reaching your audience, Exercise 3
Uni1 8
8
The debt trap. E.xercise 4
lk'lil 9
10
Uni1 7
4
5
7
9
11
12
Uni: 10
01:48
Watm-up
Tr�k
Unit 6
OS:OS
13
Exerdse 1, Convers.atioo 3
Uni�
01 :21
03·11
16
Ur• 5
COP(fighl
"""
, �IKlning1
l
00:44
fvAIIJ�lng ��on(' P"''f('ol'm�n�.
•2
Ullit4
ruerci:;e
1
Audlo CD 2
Utlil 1 1
Uf'li1 12
Ime
07:33
03:48
02:41
Reachrngyoor audience, t:xerci9e 2
01:37
R�chingyour oudie'nce, �rGisoe 4
01.19
Pref)arlng sllOOs. Exercise 2
Aehieving a gocci dea!. Exercise 2
Spi�1 and starfisti oiganiiatiOns,
Exercise 2
Acting a.s tn& ch8ir, Exercise 3
Aeti'ng as the chair, Exercise 4
13
Act.nga.s tM chair, ExerciS& 5
15
Usin.g the nght terms, Ex.!roi9e 2
14
Running
ThewOftd after Enron. fxerc1se 1
02:24
03:59
04:35
04:05
04:47
01:27
02:16
01:15
04:47
03:38
16
Sreaking the bad news, Exercise I,
01:39
17
&eaking the bad ne'l'ls, Exet'ci:se 2,
Conversation 2
01:58
Economie: gro.vth. Exercise 1
02:48
Oes-cnt-lng a compao/s legal
struetlJre, Exerci$e 3
04:07
18
19
20
21
�ryitlon 1
Tettonic sMts .i u� global eoor\Ofl'V,
Exercise 2
�t1.ing � a buSioo.s.s, bGfCise 3
Total runnin,g time CO 2
05:58
01:57
64:28
Caraer Express
Business English B2
CaroorExpress BusJnGss Eng!,sh 82 is too fìrst pan of a twe>�vel multimedia course, for students
on a SUSiness EngliSh language course at university le\'éL
lt offers a wealth ot maceria! and ena�es you to leam the communlcat,on stills you need to be
successtul in the globalileef wortd ot business.
Readlng
The texls focus on the- most interesting topics from the world of business. They prOYicle the
sprmgboard tor a discusslon of contemporary business lssues.
Liste"*1g
Realìstic conversations. presentaboos and lectures expose you to a variety of native and non­
nauve s.peal:er accents and help you to develop oore listeni'lg comprehension skms.
&1mess Sklls
ThiS sec{ion inlrodooes you lo the skills mosl needecl in b(J�ness. such as taking part in meetings,
uslng dlplomacy at work. descrlbing charts and pcesenting products.
DlsCtJSSlon and Role-Play
These features gìve you tne opportunity to pick up on issues ralsed in tM read1ng and listening
sectiOns. aoo to practise tunctiona11anguage.
Company case
These tas-k-based case st.udies have been inspired by real OOsiness scenarios. They require you to
work in teams, find strategie solutions to real•llfe problemsand present the-m to the class.
AudlOCDS
Complete record,ngs tor all the listening actlvittes in the CoJrse Book.
Career Express Self Study Online
Thi:S webSite ouers an abundanee OI additional matetiat
- Electronic Workbook with inte,actlve p,actìce exe,cisesto consolidate vocabulary, grammar,
teadi ng and skms
.. Self•assessment tests far each unit
- TailoMnade videos wlth 1nteractive exercises
- rne complete cou,se Book tistening materiai as MP3 downloads
see inside for registration detaits.
Components:
course Book & Au{JiO cos I�: 978 1 90757 569 3
Teaeher's Book ISBN: 978 1 90757 570 9
Suitable for.
Upper lntermediate
Garnet
c o u c .-.T10 N
www.garneteducatlon.com
IELTS 5.0+
CEF B2