UNIT 1
COMPANIES
‘Be not afraid of growing slowly; be afraid only of standing still.’
Chinese proverb
INTRODUCTION
Translate into English the following text
Las multinacionales son las empresas más visibles. Pero el tejido de la mayor parte de las economías
nacionales se compone de organizaciones mucho más pequeñas. Muchos países deben gran parte de su
prosperidad a las PYMEs (pequeñas y medianas empresas).
Multinationals are the most visible of companies. But the tissue of most national economies is made up of much smaller organisations.
Many countries owe much of their prosperity to SMEs (small and medium-sized enterprises).
Luego están los empresarios autónomos, negocios de un solo hombre o de una sola mujer. En el mundo
profesional, son a menudo personas que han dejado (o se han visto forzados a dejar) grandes organizaciones
y que se han establecido por su cuenta, con la experiencia que han adquirido en ellas.
And then there are the sole traders, one-man or one-woman businesses. In the professional world, they are often people who have left
(or been forced to leave) large organisations and who have set up on their own, taking the expertise they have gained with them.
Pero en cada caso el principio es el mismo: sobrevivir – el dinero que entra tiene que ser más que el dinero
que sale. Las empresas con accionistas buscan más que sobrevivir – quieren rendimiento para la inversión.
Las buenacciones de una empresa suben o bajan en relación a cómo ven los inversores la futura rentabilidad
de la empresa.
But in every case the principle is the same: to survive - the money coming in has to be more than the money going out. Companies
with shareholders are looking for more than survival - they want return on investment. Shares in the company rise and fall in relation
to how investors see the future profitability of the company.
1. How many collocations with the word ‘company’ can you find?
family-owned
multinational
small
medium-sized
profitable
failing
bankrupt
work for a
stay with a
change
company
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Inglés para el Ámbito Comercial I (Unit 1)
Quotation
Ask the class if it is better to grow slowly or quickly, which may bring them on to well-known fast growing
companies.
DIFFERENT COMPANY ORGANIZATIONS
2. Watch the video “Types of business organizations” and answer the following
questions
a)
What types or firms are mentioned?
Sole Traders, Partnerships, Limited Co and plcs
b)
Why did Tony decide to set up his own company?
Because he was made redundant
c)
Which modality of company did he choose?
He decided to be a sole trader
d)
What advantages does Tony have by being part of the Hopewell Business Centre??
The Centre can help him with financial and legal advice and all worries involved
e)
Tony says that he ‘didn’t want the hassle’. What does he mean exactly?
He means he doesn’t want to have to deal with any problems.
Partnership
a)
What’s Mr Skinner’s job?
He is a solicitor and he works for Winch and Winch. He tries to help people having legal problems
b)
How often does he visit the Centre?
Quite regularly
c)
Does he get a lot of money from the advice?
No it’s free of charge. He just try to help them out. El
d)
Where is Winch and Winch based?
In Rochester
e)
Are partners allowed to work together as a company?
No, they have to work independently
f)
According to Mr Huggins, what’s the main advantage of partnerships?
You have colleagues on whom you can rely and with whom you share problems
g)
… and the disadvantage?
You cannot limit your personal liability. In case of “trouble” partners are liable for the full of their assets.
h)
What’s a Partnership Agreement?
It regulates the relationship between the partners, their capital, profits and losses, duties, disagreements
Limited Liability Company
Fountain Workshop is another company of Hopewell Centre. It’s a Limited Liability
Company.
a)
What is the advantage of a Limited Liability Co, according to the MD of Fountain
Workshop?
The directors have a limited liability. In case of trouble they will not respond with their full personal assets
b)
Over which turnover a Limited Co has to file accounts?
£ 350,000 m
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Inglés para el Ámbito Comercial I (Unit 1)
c)
Ian Kirkpatrick speaks about the directors ‘having legal obligations towards the company’.
What legal obligations could these be?
A Managing Director has an obligation to manage the day-to-day affairs of the company properly and correctly.
Public Limited Company
Nicole Foulston, Chief Executive of Brands Hatch Leisure PLC talks about her company.
What’s the company main activity?
a)
Promote and organize motor sports events
She says, “The company is listed in the Stock Exchange of the UK”. What does it means?
b)
That the shares are quoted on SE market
What’s the main advantage of a plc company?
c)
They can raise money more easily and efficiently by issuing shares
Nicola Foulston mentions ‘raising money more easily and more efficiently as a PLC’. Why
would a company like hers want to do this?
d)
A company like Brands Hatch Leisure needs to expand its business by offering new events and to do this it needs to
raise capital.
3. Discuss these questions.
1 Which of the words below can describe:
a)
b)
good qualities of an organisation?
bad qualities of an organisation?
professional
impersonal
cold
caring
disciplined
democratic
decentralised
paternal
hierarchical
welcoming
centralised
slow-to-respond
flat
market-driven bureaucratic
There are no 'correct' answers here, but you would expect the following to be listed under good:
professional, democratic, caring, disciplined, welcoming, market-driven.
You would expect the following to be listed under bad:
cold, impersonal, paternal, slow-to-respond, bureaucratic. The pairs that are left (centralised/decentralised and
flat/hierarchical) are more likely to spark debate (but may not!) as they are more specific to individual companies and
more sensitive to opinion than the other adjectives in the list.
2 Which words could you use to describe your own organisation or an organisation you know well?
4. Complete the sentences below with words and phrases from the box.
share price
subsidiary
1.
2.
3.
4.
5.
6.
7.
workforce
profit
market share
turnover
head office
The amount of money a company receives from sales in a particular period is called its
Turnover
…………………………
Profit
The money a company makes after taking away its costs is its …………………………
A company which is more than 50% owned by a parent company is called a
Subsidiary
…………………………
Workforce
The employees in a particular country or business are called the …………………………
The percentage of sales a company has in a particular market is its
Market Share
…………………………
Head Office
The main building or location of a large organization is its …………………………
Share Price
The cost of a company’s shares is its …………………………
1. Turnover (BR English; Am Eng prefer ‘sales’.
2. profit
3. subsidiary
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Inglés para el Ámbito Comercial I (Unit 1)
4. workforce
5. Market share
6. Head office
7. Share price
COMPANY ORGANIZATION
5. Watch the video ‘A company structure’ and explain the functions of these people.
●
●
●
●
Commercial director: he is responsible of maintaining the quality control system.
Office manager: he is responsible of a team of financial controllers.
Dispatch manager: He ensures that the goods are dispatched and delivered safely and on time to the customers.
Shift overseer or supervisor: he ensures that works are produced accurately and on time by the team on his
shift.
6. Look at this diagram representing the structure of a company and answer the questions
below.
Which group of people
● own the company?  shareholders
●
sell to the company?  suppliers
●
formulate policy?  Board of Directors
●
buy from the company?  customers
●
work for the company?  staff
7. Study this organization.
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Inglés para el Ámbito Comercial I (Unit 1)
La principal diferencia entre Marketing y
Advertising.
MARKETING= realiza las políticas y las
estrategias para que después
ADVERTISING las ponga en distintas
plataformas.
Which department:
a puts the products in boxes and crates?  packaging
b places ads in magazines?  advertising
c pays the staff?  wages & salaries
d purchases supplies?  buying
e sells the products to customers?  sales
f
plans how to sell new products?  marketing
g services the machines and equipment?  maintenance
h arranges courses for the staff?  training
i
recruits new employees?  personnel
j
manufactures the products?  production
k invoices customers?  customers’ accounts
l
looks after customers' problems and complaints?  aftersales service
m dispatches the products and sends them to customers?  distribution
n organizes control systems to prevent mistakes?  quality
o deals with taxation, investment, and cash management?  financial services
FINANCIAL PERFORMANCE
8. Complete the extract from a company report with appropriate words or phrases from the
box.
share price
subsidiary
workforce
profit
market share
turnover
head office
I’m pleased to say the company has continued its excellent performance. We are changing,
growing and doing well at a difficult time for the industry. Turnover…1 was €57.2 million, an
increase of 15% on last year, and …profit…2 rose by 5% to €6.4 million.
We are a highly competitive Business. We have increased our … market share…3 20%.
Consequently our ...share price…4 has risen and is now at an all-time high of €9.6.
Increased production and strong demand have had a positive effect on our cash flow, so we are
able to finance a number of new projects. We have successfully moved to our new … head office…5
in central London. We are now planning to start full production at the recently opened Spanish
…subsidiary…6 in October.
Finally, thanks once again to our loyal and dedicated …workforce…7. Our employees will always
be our most valuable asset.
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Inglés para el Ámbito Comercial I (Unit 1)
9. Complete the chart below with information from the box. Then make sentences about the
companies. For example, ‘Cisco Systems is an American IT company. It supplies Internet
equipment’.
Peugeot
Benetton
container ship operator
American Express
French
Japanese
Italian
drug and chemical maker
drinks supplier
Company
Cisco Systems
Peugeot
Bacardi Martini
American Express
Bayer
Benetton
Sony
Maersk
Main activity
Internet equipment supplier
Car manufacturer
Drinks supplier
Travel and financial services
provider
Drug and Chemical maker
Clothing manufacturer
Electronic goods maker
Container ship operator
Nationality
American
French
Spanish
American
German
Italian
Japanese
Danish
ACCOUNTING
10. Watch the video “Accounting 1” and translate into Spanish the following accounting
vocabulary
accountant  contable
to debit  cargar (en cuenta)
accounting  contabilidad
to credit  abonar (en cuenta)
account  cuenta
transaction  transacción
account payable  cuenta a pagar
book-keeping  contabilidad
account receivable  cuenta a cobrar
book-keeper  contable
debit  cargo
ledger  libro mayor
credit  abono
balance  saldo
11. Watch the video “Accounting 2” and translate into Spanish the following accounting
vocabulary
GAAP  Generally Accepted Accounting Principles
operating expenses  gastos de explotación
income  ingresos
non-operating expenses  gastos indirectos
operating income  ingresos de explotación
expense account  cuenta de gastos
non-operating income  ingresos indirectos
cash flow  flujo de caja
revenue  ingresos brutos (gross income)
cash flow problem  problema de liquidadez
profit  beneficios (ingresos netos)
cash flow statement  estado de flujo de caja
expense  gastos
BALANCE SHEET AND PROFIT AND LOSS ACCOUNT
12. Study the balance sheet and the profit and loss account below. Find the terms that refer
to. (BO)
1. what the company owns and what it owes  assets and liabilities
2.
things that permanently belong to the company  fixed assets
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Inglés para el Ámbito Comercial I (Unit 1)
3.
money they have to pay the bank for their loans  interests payable
4.
money borrowed to meet day-to-day running expenses  bank overdrafts or loans
5.
money supplied by shareholders  share capital
6.
money owed to shareholders  dividend payable
7.
money owed to suppliers  trade creditor
8.
money their customers owe them  debtors
9.
the company's total sales  turnover
10.
costs incurred in buying raw materials and producing goods  cost of sales
11.
expenses they've incurred but not yet received invoices for  accrued expenses
12.
regular expenses incurred in running the business such as rent, light, heating, salaries,
and advertising expenses  administration and other overheads
13.
the loss in value of equipment, etc., due to use or age  depreciation
14.
inventory.  stocks
13. The company has had a difficult year. Find evidence for these facts in the figures.
Fact: Competition has been very tough.
Evidence: Turnover has fallen.
Facts
1.
They've borrowed some money to buy new equipment.
Plant & equipment have increased
2.
Their customers have been demanding that they keep larger stocks.
Stocks and finished goods have gone up
3.
Their customers have also been demanding longer credit periods.
Debtors increased
4.
Their suppliers have been insisting on shorter credit periods.
Creditors have fallen
5.
They've made some poor investments.
Investment income has gone down
6.
And they haven't been able to afford to pay their shareholders much.
Dividends have decreased
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Inglés para el Ámbito Comercial I (Unit 1)
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Inglés para el Ámbito Comercial I (Unit 1)
14. Now, translate into Spanish the contents of the Balance Sheet and the Profit & Loss
account.
Balance Sheet as at 31st December
Balance General al 31 de Diciembre
ASSETS / ACTIVO
LIABILITIES / PASIVO
Fixed assets / Activo fijo, inmovilizado
Current liabilities / Pasivo corriente o circulante
Land and Buildings / Terrenos y Construcciones
Bank Overdrafts / Descubiertos bancarios
Plant and Equipment / Construcciones y
Loans / Préstamos
Equipos/Maquinaria
Investments / Inversiones
Current Assets / Activo Circulante
Creditors / Acreedores
Taxation / Impuestos
Dividend payable / Dividendos a pagar
Net Current Assets /Activo Circulante Neto
Stocks / Existencias
Finished Goods / Productos Terminados
CAPITAL AND RESERVES/CAPITAL Y RESERVAS
Work in Progress / Productos en Curso
Debtors /Deudores
Share capital / Capital social
Cash and Bank / Tesorería, Efectivo disponible
Profit and loss account / Cta. de pérdidas y ganancias
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Inglés para el Ámbito Comercial I (Unit 1)
Profit and Loss Account for year ended 31 st December
Cuenta de Pérdidas y Ganancias al 31 de Diciembre
Turnover / Facturación, volumen de ventas, cifra de negocios
Cost of sales / Coste de ventas
Gross Profit / Beneficio Bruto
Administration costs / Costes de Administración
Overheads / Gastos generales, gastos generales de fabricación*
Depreciation / Depreciación, amortizaciones
Operating profit / Beneficios de explotación
Investment Income / Ingresos por inversiones
Interest payable / Intereses a pagar
Profit (or Loss) on ordinary activities after tax / Ganancias (o pérdidas) por actividades ordinarias
después de impuestos
Dividends / Dividendos
Profit retained and transferred to reserves / Beneficio retenido y destinado a reservas
* Hoy en día se encuentra en muchas cuentas
PRESENTING YOUR COMPANY
🖭15. Listen to the presentation about Tara Fashions (Listening 1). Complete the chart. (3.3)
Tara Fashions
Where is the head office?
Cordoba, Spain
What does it sell?
Clothes (practice pronunciation)
Who are its customers?
Fashion-conscious men and women aged 20-35
Annual turnover?
€260 million
Annual net profits?
€16 million
Number of Stores:
in Spain?
in other European countries?
15
Strengths?
Can bring out new designs very quickly
14 (5 new stores every year)
Designs sold at right price
Future plans?
New store in NY next year
🖭16. Listen to 1.15 again. Tick the phrases that you hear in the
Useful Language section
below (see below).
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Inglés para el Ámbito Comercial I (Unit 1)
17. Which of these suggestions do you agree with?
To make an effective presentation, you should:
1.
find out as much as possible about your audience.
Find out as much as possible about your audience and adapt your presentation accordingly, using this
information. Don't just give the presentation you were going to give anyway.
2.
introduce yourself (name, position, company).
Good idea. Make sure your in-work Ss know their job titles as they really would be in English rather than an
anglicisation of the titles in their own language.
3.
start with a joke.
Humour is used very differently in different places. Some cultures see it as a lack of seriousness. If in doubt, leave
it out.
4.
outline the structure of your talk.
Point out that in the English-speaking world, this is a fairly normal procedure. It certainly helps language
learners to structure their presentations in this way.
5.
vary the tone of your voice.
You could ask Ss what they understand by tone. It could be taken to include stress (putting emphasis on
particular syllables and words), volume (loudness) and intonation (rise and fall of the voice). These should be
varied but, at the same time, don't overdo it!
6.
refer to your notes as often as possible.
Don't bury your nose in your notes and don't write out a complete script.
7.
use clear visual aids.
Good idea but don't overdo it and use too many. Don't overcrowd the visuals with too much information.
8.
summarize your main points.
Related to point 4 and very useful.
USEFUL LANGUAGE
Outlining the presentation
● First, I'll give you some basic information.
●
Secondly, I'll talk about our stores in other countries.
●
Next, I'll talk about career opportunities.
●
Last of all, I want to look at our future plans.
Introducing new information
● Here's some basic information.
●
Let me add a few figures.
●
Let's have a look at some statistics.
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Inglés para el Ámbito Comercial I (Unit 1)
●
What are our strengths?
Ending the presentation
●
To conclude, I want to tell you about our future plans.
●
Finally, a few words about our new project.
●
Thanks very much for listening to my talk.
●
Thanks for coming to my presentation.
18. Invent a company. Listen to the presentation about the fashion company and then make
your own presentation about the company you have invented.
IDIOMS AND EXPRESSIONS
🖭
19. Listen to the recording “Idioms and expressions (1)”. Then answer the following
questions
Expression 1: “look before you leap”
Is the verb ‘to leap’ regular or irregular? both
What does it mean? : Think about what you’re going to do before you do it, considering the consequence before
you act.
What example is mentioned to illustrate the meaning? Before signing a contract, taking a parachute dive
or buying a house
Where’s the origin of the phrase? It comes from one of those ‘fox fables’
Translate into English the following sentence: ‘Deberías haber mirado antes de saltar’? You
should’ve looked before you leapt.
Expression 2: “to rest on your laurels”
What does it mean? : to rely or be satisfied with your old achievements.
What example is mentioned to illustrate the meaning? You can never rest on your laurels when you learn
English.
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Inglés para el Ámbito Comercial I (Unit 1)