Unit 11, Answers and vocabulary
“There is always plenty of business, if you are smart enough to get it.” E.
W. Howe (1853-1937)
Even when times are hard, clever entrepreneurs are able to sell things
people want.
B, p. 99
1)
inflation rate
2)
interest rate
3)
exchange rate
4)
GDP
5)
balance of trade
6)
unemployment rate
7)
foreign investment
8)
tax incentives
9)
government bureaucracy


entrepreneur
noun [C]
someone who starts their own business, especially when this
involves risks:
He was one of the entrepreneurs of the eighties who made
their money in property.
entrepreneurial
adjective
She'll make money - she's got that entrepreneurial spirit.
Listening, p. 100
A
BENCHMARK
1
to:
a standard, usually of quality or performance, that other things can be compared
Revenue per available room is the key benchmark in the hotels sector. A
performance benchmark has been established for the team. This cab firm has
become the benchmark for cab firms around the world. The Federal Reserve Board
has cut its benchmark interest rate. The fund underperformed its target benchmark
by ten percent.
verb [+ obj]
to find the best performance or process and use this as a standard to improve
performance or processes in a company:
Many companies benchmarked Motorola. Benchmark your skills against the
standard of excellence in your field.
benchmarking noun [U]:
Benchmarking is a core value at the company.
1)
confident
2)
determined
3)
research
4)
competitors
5)
service
6)
backup
7)
business
8)
personal
Yvonne mentions:
-
business plan
-
relationship with your bank
-
marketing campaign
Reading, pp. 100, 101
B
1)
Microelectronics
2)
Sicilian chairman of ST Microelectronics
3)
Europe’s largest microelectronics group and the sixth largest in the world
1)
Silicon Valley – both places have a good university which works with local
C
business, encouraging research
2)
The EU (European Union), the Italian government and local organisations
3)
The large number of highly-educated, unemployed young people;
government and EU incentives
D
1)
transformed
2)
competitive
3)
ingredients
4)
incentives
5)
plant (It has a more modern ring than factory.)
6)
facilities
7)
exceeded (It is a typical combination exceed expectations.)
Language review, p. 102
A
1g
2e
3f
4d
5a
6b
B
1)
before/until
2)
when/as soon as
3)
when/before/after/as soon as
4)
when/before/after/as soon as
5)
when/while
1)
before
2)
as soon as
3)
before
4)
While
5)
When
6)
when
7)
when
C
7h
8c