Manual for Studying the Course

Manual for Studying the Course

“Business English”  

 

Yalta

 

2015

УДК 811.111(075.8)

ББК 81.2Англ–923

     О - 72

Рецензенты:

 

 

О-72	Osadchaya T. Yu., Mayboroda A. A. “Business English”: Manual for Studying the Course “Business English” for Foreign Philology Students” / T. Yu. Оsadcha; State Institution “Crimean University of Humanities”. –  Yalta, 2015. – 164 p.

 

The manual is designed for studying the course “Business English” for the third-year Foreign Philology students and for the first and second-year Master course students of different specialities.  It consists of 12 units, includes a wide range of business texts, intended both for reading in a class and for independent work of students. Various exercises prepare students for speaking on business topics and contribute greatly to their cross-cultural competence.

УДК 811.111(075.8)

ББК 81.2Англ–923

Recommended for print

by

© Osadcha T. Yu., 2014

© Crimean University of Humanities  Press, 2014

Foreword

 

The manual is designed for studying the course “Business English” for the third-year Foreign Philology students and for the first and second year Master course students of different specialities. The purpose of this manual is organizing a teaching process in both “Business English” classroom and during independent work of students. Special attention is paid to acquisition of a special business and professional vocabulary, business texts reading, translation and comprehension skills developing, speaking and creative thinking skills forming. Students are taught to solve business and professional problems arguing and reasoning in English.

All the material of the manual is divided into 2 modules, which consist of 6 units each. The manual includes texts on special topics, lexical and grammar tasks, creative thinking development tasks, translation, speaking, listening/comprehension and writing skills development tasks.

The purpose of the tasks that are given after texts is evaluation of students’ comprehension, written and oral translation, and communication skills. 

After each unit check-ups on vocabulary and grammar of the unit are given.

The manual suggests special tasks on students’ cross-cultural competence skills development.    

The texts of the manual are authentic; they meet students’ cognitive and professional needs.

Contents

Foreword ………………………………..…...................			3

Contents

4 Unit 1.

Jobs………………………………………….

5 Unit 2.

Careers……………………............................

18 Unit 3.

Companies…………………………………..

27 Unit 4.

Great ideas………………………………......

37 Unit 5.

Stress at work…………………………….....

44 Unit 6.

Planning…………………………………….

54 Progress tests

………………………………………………

62 Unit 7.

Economic factors and buyer behaviour……..

72 Unit 8.

Corporate entertaining………………………

82 Unit 9.

Meetings………………………………….....

94 Unit 10. Successful marketing……………………….

102

Unit 11. Selling………………………………………

112

Unit 12. Introducing a new product………………….

123

Progress tests ………………………………………………

131

Texts for individual reading…………………………..

147

Recommended literature ………………………………

162        

 

Unit 1: Jobs

Task 1. Read the following text and underline useful phrases for talking about one’s job.

I work for a large European car maker. I work on car design. In fact, I run the design department and I manage a team of designers: 20 people work under me. One of my main responsibilities is to make sure that new model designs are finished on time. I am also in charge of design budgets. I deal with a lot of different people in the company. I am responsible for coordination between design and production: I work with managers at our manufacturing plants.

 

Task 2. Translate the following expressions with the word ‘work’. Pay special attention to the prepositions.

1. to leave for work	a.
2. to get to work	b.
3. to be at work	c.
4. to arrive at work	d.
5. to go to work	e.
6. to be off work	f.
7. to be out of work	g.
8. to be in work	h.
9. to work full-time	i.
10. to work part-time	j.
11. temporary work	k.
12. permanent work	l.

 

Task 3. Complete the text with the prepositions from the task 2.

Jane lives in London and works for a large company. She leaves home 1 ___ work at 7.30. am. She drives 2 ___ work. The traffic is often bad and she worries about getting 3 ___ work late, but she usually arrives 4 ____ work at around nine. She finishes work quite late, at about eight. ‘Luckily, I am never ill’, she says. ‘I could never take the time 5 _____ work’. She loves what she does and is glad to be 6 ____ work. Some of her friends are not so lucky, they are 7 ____ work.

Task 11. Are these jobs generally considered to be highly skilled, skilled, semi-skilled or unskilled? Each expression is used twice.

1. a teacher

2. a brain surgeon

3. a car worker on a production line

4. an airline pilot

5. an office cleaner

6. a worker

7. a bus driver

8. an office manager

 

Business across cultures: International Business Styles

Germany

Poland

Sweden

The United Kingdom

The United States

Managers from this country

• consider professional and technical skills to be very important
• have a strong sense of authority
• respect the different positions in the hierarchy of their companies
• clearly define how jobs should be done
• are very loyal to their companies and expect their subordinates to obey them
• are often older than in other countries.

Managers from this country

• receive a general education
• delegate authority
• take a practical approach to management
• have relatively formal relationships at work
• encourage their employees to work individually
• believe it is important to continue education and training at work

Managers from this country

• consider social qualities to be as important as education
• encourage their employees to take an interest in their work
• pay close attention to the quality of working life
• do not use as much authority as in other countries
• appreciate low-level decision-making
• are often women.

Managers from this country

• generally attend business schools
• communicate easily and informally at work
• admire the qualities of a leader
• expect everyone to work hard, individual performance is measured and initiative is rewarded
• have competitive and aggressive attitudes to work
• often accept innovation and change

Managers from this country

• older managers hold technical degrees rather than business qualifications
• work long hours and expect their subordinates to do so
• are extremely innovative, optimistic and determined
• are quick to invest in the development of new products, market techniques and methods of production and distribution

Don’t

• Assume you won’t meet any communication problems because you speak English. You may think you are paying somebody a compliment by telling them their business is going a bomb. Americans will infer you think it is falling.Appear too reserved. As Americans are generally more exuberant than their European colleagues, they may equate reserve with lack of enthusiasm.

Dialog 1.

A: Good morning. VTS. Which department, please?

B: I’d like to speak to Carmen Brown in human resources, please.

A: Thank you. Hold on, I’ll put you through.

C: Hello. Human resources.

A: Hello. Is that Carmen Brown?

C: Speaking.

A: Yes, I’m phoning about your advert in Careers Now. Could you send me an application form, please?

C: Certainly. Can I take some details? Could you give me your name and address, please?

A: Sure, it’s …. And my address is …..

Dialog 2.

A:Hello, Could I speak to Andrea, please?

B: I’m afraid, she’s not here at the moment. Can I take a message?

A: Yes, please. This is John from Intec. Could you tell her I won’t be able to make the training course on Saturday? She can call me back if there’s a problem.

B: OK. Thank you. Good bye.

Dialog 3.

A:Hi, John. Dave here.

B: Oh, hello, Dave. How are you?

A: Fine, thanks. Listen, just a quick word.

B: Year, go ahead.

A: Do you think you could let me have the fax number for Intercom Company? I can’t get through to them. Their telephone number is always engaged.

B: I’ve got it here. It’s 020 4578 2389.

A: Sorry, I didn’t catch the last part.

B: It’s 2389.

A: OK. Thanks. Bye.

B: No problem. Bye.

Financial Performance

I am pleased to say the company has continued its excellent performance. We are changing, growing and doing well at a difficult time for the industry. 1 _________________ was $57.2 million, an increase of 15% on last year, and 2 _____________ rose by 5% to $6.4 million.

We are a highly competitive business. We have increased our 3 _________________ to 20%. Consequently, our 4 _____________ has risen and is now at all-time high of 49.6.

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 5 ___________ in central London. We are now planning to start full production at the recently opened Spanish 6 _______________ in October.

 Finally, thanks once again to our loyal and dedicated 7 ______________. Our employees will always be our most valuable asset.

 

Sales Manager

We 1 _______ one of the largest mobile phone retailers in Europe. We 2 ________ independent and impartial advice on mobile phones. We 3 __________ more than 800 stores in 10 countries, and we 4 _________ fast. We 5 ____________ over 3000 workers. Currently we 6 __________ the next stage in our development, and we 7 ____________ for major growth outside Europe.

We 8 _________ for people who are reliable, confident and enthusiastic. We 9 ___________ experienced people who want to work for an expanding company. We 10 _____________ a competitive salary and private health insurance. We are willing to reward staff with attractive performance-based bonuses.

 

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.

I’ll be pleased to answer any questions at the end of my talk.

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.

 

Writing

Task 11. M & T Cables wants to enter a new market. Read the following email to a possible export partner. Fill each gap in the sentences below with the correct word from the box. Write your own email to a possible business partner.

 

A new market

analysis demand free goods mix plan research trends

Date 22 Nov 2007 15:48 +0900 From: M & T Cables GmbH < MTCables@worldcom.de To: ‘Peter Jarrow’ PDJARROW@gold.ocn.fi Subject: Export proposal   Dear Peter, Thanks for your letter about marketing our products in the South Pacific region. We certainly do want to sell our 1 ________ in every 2 ___________ market in the world, but we need to do some market 3 ______________ in your region. I have four questions to start with: 1. What is the supply and 4 _____________ like at present for our kind of product? 2. What kind of 5 ____________ do you think we should develop in our marketing 6 _____________? 3. What are the market 7 ____________ in this sector? 4. Can you recommend someone to carry out a detailed market 8 ___________ for us?   Please email by return if possible. Thank you!   Sandra Sah Lindacher Str. 48. d-40474 Dusseldorf. Germany MTCables@worldcom.de Tel: 0049 211 646453 or 646458 Fax: 0049 211 646460

 

Working together.

The male approach to business is competitive, direct and confrontational. The end justifies the means (it doesn’t matter what methods you use, success is the only important thing). Personal status and a focus on the individual are important. The female method is collaborative. Collective action and responsibility are more important than personal achievement. Lateral thinking (thinking in a creative way, making unusual connections), as well as goodwill and the well being of the individual, are also of great importance.

Tackling problems.

The male approach is to go to the heart of the problem, without taking into account secondary considerations. The female preference is to look at various options.

Body language.

Male body language tends to be challenging. Female body language tends towards self-protection. A stereotypical female pose is sitting cross-legged; the male sits with legs apart to give an impression that he is in control. Male behavior can include forceful gestures for example banging a fist on the desk for effect. The female style does not usually include such gestures.

Language.

The male way of speaking does not encourage discussion. Women tend to welcome others’ opinions and contributions more.    

Conversation.   

Men like to talk about their personal experiences and achievements or discuss 'masculine' topics such as cars or sport. Women tend to talk about staff problems and personal matters.

Meetings.

If a woman does not copy the male confrontational style, she is often ignored.

Self-promotion. 

Men find it easy to tell others about their successes. Women tend to share or pass on others the credit for a success.

Humor.

Men's humor can be cruel - a man's joke usually has a victim. Female humor is less hurtful. A woman often jokes against herself.

Men / Women

1. are better time managers

2. are less worried about deadlines

3. have more pressure outside work

4. are less ambitious

5. worry more about making mistakes

6. pay more attention to detail

7. are better at doing many things at the same time

8. are more likely to become angry when stressed.

Quiz

1. You are in a meeting. People cannot agree with each other. Do you

a) say nothing?

b) intervene and propose something new?

c) take sides with those you like?

d) suggest a 10-minute break?

2. Your two closest friends have an argument and stop speaking to each other. Do you

a) behave as though nothing has happened?

b) bring them together to discuss the problem?

c) take the side of one and stop speaking to the other?

d) talk to each one separately about the situation?

3. You see two strangers. One begins to hit the other. Do you

a) pretend to be an off-duty police officer, and ask them what is going on?

b) call the police?

c) shout at them to stop?

d) walk away quickly?

4. Your neighbors are playing very loud music late at night. Do you

a) ask them to turn it down?

b) do nothing?

c) call the police?

d) play your own music as loudly as possible?

5. You are in the check-in queue at an airport. Somebody pushes in. Do you

a) ask them to go to the back of the queue?

b) say nothing?

c) complain loudly to everyone about people jumping queues?

d) report them to an airport official?

6. A colleague criticizes your work. Do you

a) consider carefully what they say?

b) ignore them?

c) get angry and criticize them?

d) smile, but wait for an opportunity to get back at them?

 

Group 1.

1. tactics	a. be flexible
2. make compromises	b. not changing your opinion or attitude
3. consistency	c. the methods you use to get what you want

Negotiations are demanding and may become emotional. You may find your negotiator banging his or her fist on the table or leaving the room. Accept such tactics with patience and calmness. They are designed to make it difficult for you to concentrate. Russian negotiating teams are often made up of experienced managers whose style can be like a game in chess, with moves planned in advance. Wanting to make compromises may be seen as a sign of weakness.

Group 2.

4. speak your mind	d. when you find out what the other side wants
5. place great weight	e. say what you think
6. exploratory phases	f. consider very important

 

As well as being formal, negotiations are direct. German managers speak their mind. They place great weight on the clarity of the subject matter and get to the point quickly. Excessive enthusiasm or compliments are rare in German business. You should give a thorough and detailed presentation, with an emphasis on objective information, such as your company’s history, rather than on clever visual or marketing tricks. Prepare thoroughly before the negotiation and be sure to make your position clear during the opening stage of the talks, as well as during their exploratory phases. Avoid interrupting, unless you have an urgent question about the presentation. 

Group 3.

7. small talk	g. style of behavior
8. protocol	h. polite or social conversation
9. manner	i. the way things are done on official occasions

Communications is a natural talent of Americans. When negotiating partners meet, the emphasis is on small talk and smiling. There is liberal use of a sense of humor that is more direct than it is in the UK. Informality is the rule. Business partners do not use their academic titles on their business cards. This pleasant attitude continues in the negotiation itself. US negotiators attach little importance to status, title, formalities and protocol. They communicate in an informal and direct manner on a first-name basis. Their manner is relaxed and casual. The attitude ‘time is money’ has more influence on business communications in the US than it does anywhere else. Developing a personal relationship with the business partner is not as important as getting results. 

Group 4.

10. counterparts	j. unplanned thoughts
11. spontaneous ideas	k. give your opinion
12. put your point across	l. the people on the other negotiating team

At the start of the negotiations with Spanish partners you should have documentation available in Spanish. Business cards should carry details in Spanish and English. During the negotiation your counterparts may interrupt each other, or even you. It is quite common in Spain for this to happen in the middle of the sentence. For several people to talk at the same time is accepted in Latin cultures, but is considered rather unusual in Northern Europe. The discussion is likely to be lively. In negotiations, Spanish business people rely on quick thinking and spontaneous ideas rather than careful preparation. It may appear that everybody is trying to put his or her point across at once. That can make negotiations in Spain intense and lengthy, but also enjoyably creative.   

 

Task 4. Every successful person in business has his or her own secret of good planning. Read the following text. Work in pairs and make a list of things that are important in planning. Add your own ideas.

The most important thing is to know exactly what it is that you want to achieve, and define it, and define by when you want to achieve it and with that information, you can then set a deadline and identify the tasks that are necessary to achieve that goal, get on with them to a timetable.

There are some things, which are clearly outside our control. In business, it might often be unforeseen changes in the economic climate. When things change, it is important to step back, reassess the situation and redefine one’s goal.

 

Complete the report below for your boss. The report should give conclusions how sales can be improved in the future. The first and third paragraphs have been written for you. Write the second and fourth paragraphs. Each paragraph should be not more than 40 words.

Report

Three years ago, we made a sales forecast for Year 1 of 1.5 million units. Unfortunately, we only had sales of 1.1 million. This was mainly because of the very bad weather we had during the summer – it was very cold and wet, so people did not want to buy soft drinks.       For Year 3, we had forecast sales of 2 million units, but a strike by delivery drivers in July meant that again, we could not satisfy the demand, and we only had sales of 1.8 million.

 

Progress test 1.

Progress test 2.

Part 2. Read the article below about graduate recruitment in America. For each sentence 1 – 7, mark one letter (A, B or C).

In September, the campuses of America will be full of not only returning undergraduates, but also employers offering jobs to the best 10% of them. “We are seeing a far more competitive market for talent,” says Steve Canale, a recruitment manager at General Electric (GE). Companies are also looking at summer work-experience students more as potential full-time employees than a temporary staff. 60% of GE's graduate recruits in America this year, for instance, will come from more than 2,000 summer students.

Firms are working harder to improve their image in the eyes of undergraduates. GE focuses on 38 universities where it actively promotes itself as an employer. PricewaterhouseCoopers (PWC), an accounting firm, targets 200 universities and gives a partner responsibility for each. PWC says that each of these partners spends up to 200 hours a year “building relationships on campus”.

According to a survey by Universum, which asked 30,000 American students to name their ideal employer, PWC came second in 2005 (up from 4th in 2004), beaten only by BMW. Yet the German carmaker, which replaced Microsoft as the leader in 2005, avoids campuses, relying for its popularity, says Universum, on the “coolness” of its products.

from ©The Economist Newspaper and the Economist Group.

 

1. The competition for recruiting graduates has grown recently.

 A Right B Wrong C Doesn’t say

2. GE is offering jobs to all its work experience students.

 A Right B Wrong C Doesn’t say

3. Not many work experience students complete their studies.

 A Right B Wrong C Doesn’t say

4. Companies want to make more of an impression on students.

 A Right B Wrong C Doesn’t say

5. PWC gives each partner responsibility for one of 38 universities.

 A Right B Wrong C Doesn’t say

6. In 2005 BMW was the most popular employer for students.

 A Right B Wrong C Doesn’t say

7. BMW visits many university campuses to recruit staff.

 A Right B Wrong C Doesn’t say

Unit 7: Economic factors and buyer behavior

General economic situation

When the national economy is doing well, when people feel that their 1 ___________________ is safe, they spend more. In times of a slow down in 2 _____________ ___________, if interest rates or taxation rates increase, then buyer confidence goes down.

2. 3 ____________________ _____________

People spend according to what is left after meeting their regular costs on rent, mortgage, bills, tax, borrowings and other 4 _______________. What is left is called 5 ______________________ _____________.

3. 6 _____________ __________________

Banks and other lenders are sometimes particularly happy to lend, for example to anyone in work, or with 7 ___________ such as property. Credit card spending goes up and many people borrow money to buy goods.

4. 8 _______________________

This is perhaps obvious. High prices may limit spending, but not always. Sometimes high prices indicate high quality and this increases the desirability of the product. Price may also be less important if the need is great. But, in contrast, low prices may increase buying, especially where 9 _____________ are on offer. Sometimes items are offered at a low price as a 10 _________ _____________. This means products are sold at below cost price. The shop thinks that consumers will buy these low priced goods, but also other high profit items. Supermarkets often sell some regularly purchased fast moving consumer goods at below cost price as part of a loss leader strategy.

Writing

Task 7. Read this email from a director of a financial services company to a colleague in an overseas subsidiary. Then fill each gap with a word or phrase from the box. Write a similar email.

domestic export external audit internal audit marketing audit SWOT analysis threat trend

Date 22 Jan 2008 15:48 From: JAW Financial services PLC JAWS@arena.com To: Isabelle Brock Isabrock@threecolors.com  Subject: Re. Update/news   Hello Isabelle, Just a short note to bring you up to date while you are away. Since there has been a decline in our 1 ____________ sales we have decided to carry out a 2 ___________ ____________ to identify areas where improvement can be made. This consists of a typical 3 __________ _____________ with an 4 ___________________ ___________ to look at factors within the company and an 5 ______________ ___________ examining factors outside our immediate control. We expect that the major 6 ____________ to improved performance in our domestic markets is the weakness of the national economy. The good news is that while home sales have fallen, our 7 _______________ performance has been good. The 8 __________ in our key international markets is positive.   Pleas call me when you return to the office to discuss this in more detail. Cheers, John

 

U.S. Dollar (USD)

Central Bank: Federal Reserve (Fed)

The Almighty Dollar Created in 1913 by the Federal Reserve Act, the Federal Reserve System (also called the Fed) is the central banking body of the U.S. With the U.S. dollar being on the other side of approximately 90% of all currency transactions, the Fed's sway has a sweeping effect on the valuation of many currencies.

Sometimes referred to as the greenback, the U.S. dollar (USD) is the home denomination of the world's largest economy, the United States. As with any currency, the dollar is supported by economic fundamentals, including gross domestic product, and manufacturing and employment reports. However, the U.S. dollar is also widely influenced by the central bank and any announcements about interest rate policy. The U.S. dollar is a benchmark that trades against other major currencies, especially the euro, Japanese yen and British pound.

European Euro (EUR)

Central Bank: European Central Bank (ECB)

The Dollar's Nemesis In addition to having jurisdiction over monetary policy, the ECB also holds the right to issue banknotes as it sees fit. Similarly to the Federal Reserve, policy makers can interject at times of bank or system failures. The ECB differs from the Fed in an important area: instead of maximizing employment and maintaining stability of long-term interest rates, the ECB works towards a prime principle of price stability, with secondary commitments to general economic policies. As a result, policymakers will turn their focus to consumer inflation in making key interest rate decisions.

Japanese Yen (JPY)

Central Bank: Bank of Japan (BoJ)       

Technically Complex, Fundamentally Simple Established as far back as 1882, the Bank of Japan serves as the central bank to the world's second largest economy. It governs monetary policy as well as currency issuance, money market operations and data/economic analysis. The main Monetary Policy Board tends to work toward economic stability, constantly exchanging views with the reigning administration, while simultaneously working toward its own independence and transparency.

British Pound (GBP)

Central Bank: Bank of England (BoE)

The Queen's Currency As the main governing body in the United Kingdom, the Bank of England serves as the monetary equivalent of the Federal Reserve System. In the same fashion, the governing body establishes a committee headed by the governor of the bank. Made up of nine members, the committee includes four external participants (appointed by the Chancellor of Exchequer), a chief economist, director of market operations, committee chief economist and two deputy governors.

Swiss Franc (CHF)

Central Bank: Swiss National Bank (SNB)

A Banker's Currency Different from all other major central banks, the Swiss National Bank is viewed as a governing body with private and public ownership. This belief stems from the fact that the Swiss National Bank is technically a corporation under special regulation. As a result, a little over half of the governing body is owned by the sovereign states of Switzerland. It is this arrangement that emphasizes the economic and financial stability policies dictated by the governing board of the SNB. Smaller than most governing bodies, monetary policy decisions are created by three major bank heads who meet on a quarterly basis.

Canadian Dollar (CAD)

Central Bank: Bank of Canada (BoC)

The Loonie Established by the Bank of Canada Act of 1934, the Bank of Canada serves as the central bank called upon to "focus on the goals of low and stable inflation, a safe and secure currency, financial stability and the efficient management of government funds and public debt." Acting independently, Canada's central bank draws similarities with the Swiss National Bank because it is sometimes treated as a corporation, with the Ministry of Finance directly holding shares. Despite the proximity of the government's interests, it is the responsibility of the governor to promote price stability at an arm's length from the current administration, while simultaneously considering the government's concerns. With an inflationary benchmark of 2-3%, the BoC has tended to remain a shade more hawkish rather than accommodative when it comes to any deviations in prices.

Australian/New Zealand Dollar (AUD/NZD)

Central Bank: Reserve Bank of Australia / Reserve Bank of New Zealand (RBA/RBNZ)

Always A Carry Favorite Offering one of the higher interest rates in the major global markets, the Reserve Bank of Australia has always upheld price stability and economic strength as cornerstones of its long-term plan. Headed by the governor, the bank's board is made up of six members-at-large, in addition to a deputy governor and a secretary of the Treasury. Together, they work toward to target inflation between 2-3%, while meeting nine times throughout the year. In similar fashion, the Reserve Bank of New Zealand looks to promote inflation targeting, hoping to maintain a foundation for prices.

South African Rand (ZAR)

Central Bank: South African Reserve Bank (SARB)

Emerging Opportunity Previously modeled on the United Kingdom's Bank of England, the South African Reserve Bank stands as the monetary authority when it comes to South Africa. Taking on major responsibilities similar to those of other central banks, the SARB is also known as a creditor in certain situations, a clearing bank and major custodian of gold. Above all else, the central bank is in charge of "the achievement and maintenance of price stability". This also includes intervention in the foreign exchange markets when the situation arises.

Interestingly enough, the South African Reserve Bank remains a wholly owned private entity with more than 600 shareholders that are regulated by owning less than 1% of the total number of outstanding shares. This is to ensure that the interests of the economy precede those of any private individual. To maintain this policy, the governor and 14-member board head the bank's activities and work toward monetary goals. The board meets six times a year.

Conclusion

As financial markets continue to evolve and grow globally, foreign exchange and currencies will play an increasingly large role in day-to-day transactions. As a result, whether a conversion for physical trade or a simple portfolio diversification play, currencies continue to offer more opportunities to both the retail and institutional investor.

 

	The central bank’s name	unofficial name of the currency
1. U.S. Dollar
2. European Euro
3. Japanese Yen
4. British Pound
5. Swiss Franc
6.Canadian Dollar
7. Australian/New Zealand Dollar
8. South African Rand

 

Unit 7. Check-up.

Corporate entertaining

Most modern companies are operating a ‘Customer Relationship Management Program’ and in running a CRM program the human content part of that is very important. Many companies have realized that it can cost four or five times as much to gain a new client as it is to keep an old one, and therefore entertaining has become a very important part of that customer relationship management mix.

       There are top six events that are popular form of entertaining: the Wimbledon Tennis Championships, Royal Ascot, the Open Golf, Henley Royal Regatta, Chelsea Flower Show and the Grand Prix. But more and more new events are happening all the time – opera, jazz, rock and pop events where people take and entertain their clients.

It doesn’t matter if you are a small business or a multinational. You need to retain your clients and customers if you are to grow your business. 

Questions:

1. What kind of entertainment program do most companies have?

2. Why do companies spend money on corporate entertaining?

3. What other events are mentioned in the text in addition to the ‘big six’?

4. Why is corporate entertaining important for small businesses?

 

Task 1. In Russia they sit down at cocktail parties. In China the most important guest is seated facing the door. In Japan a tip is not expected; in France it is an insult not to leave one. Try the quiz below. Underline the correct information.

1. In Greece / Finland people frequently stop for lunch at 11.30 in the morning.

2. In Switzerland / Brazil it’s common to be up to two hours late for a party.

3. In Portugal / the USA a business lunch can last up to three and half hours.

4. In Japan / Russia the soup is often eaten at the end of the meal.

5. In France / Britain cheese is normally served after the dessert.

6. In American / German restaurants you may be asked if you want a bag for the food you can’t eat. 

7. In Arab / Asian countries you must wait for your host to serve you the main meat dish.

8. In Mexico / Belgium you should keep both hands on the dinner table where they can be seen.

9. At a Turkish / Chinese dinner table it is extremely impolite to say how hungry you are.

10. The Japanese / British sometimes need to be offered more food three times before they will accept.

11. American / Latin executives like to be invited to your home for dinner.

12. In Belgium / Spain an 11 o’clock dinner is quite normal.

13. In Asian / Arab countries food is usually eaten with just three fingers of the right hand.

14. In Poland / Japan you should keep filling other quests’ glasses until they turn them over.

15. In African / Asian countries it is the host who decides when the quests should leave.

Task 2. Read the chatting over lunch of business people from different countries. Then answer the questions.

Conversation 1.

- So, Seiji. What’s this fugu? It’s a kind of fish, isn’t?

- Ah, yes. Er, it’s rather unusual, er…

- Traditional Japanese dish, eh?

- Yes, but it’s as little exotic. You may not like it.

- No, no, I like trying new things. Fugu sounds good to me.

- I think you’d prefer something else. Fugu can be… a little dangerous.

- A bit spicy, you mean? Ah, I don’t worry about that. I love spicy food.

- No, not spicy. It’s poisonous.

- It’s what?

- Poisonous. If it isn’t cooked the right way, yes. Some people love it. And this is a very good restaurant, but thirty people die every year from bad fugu. Really, I think you should try something else.

- Yeah, well, sure. I think you’re probably right. Maybe I’ll have tempura instead.

- Yes, tempura. Much better idea, David.

Questions on conversation 1:

1. What is Seiji worried about?

________________________________

 

2. Seiji uses different expressions to stop his colleague choosing the fugu. Complete them.

a. It’s rather ________________;

b. It’s a little ________________;

c. You may _________________;

d. I think you’d ______________;

e. Really, I think you should _____________.

3. What does David say when he decides to change his mind?

_________________________________________________.

Conversation 2.

- Now, Hans, we thought you might like to try the local specialty.

- Ah, yes?

- Yes, it looks a little strange at first. But you’ll love it. You like shellfish, don’t you.

- Well, I like prawns. And the mussels we had the other day were excellent.

- Then you’ll really enjoy this. It’s squid. But this is not just squid.

- No?

- No, this is something really special. It’s served in its own ink – as a sauce.

- It sounds a bit… Actually, I hope you don’t mind, but could I have something a bit simpler?

- Well, if you’re sure you don’t want to try it. It’s really very good.

- Yes, I’m sure it is, but…

Questions on conversation 2:

1.What is Han’s problem?           

________________________

2. The Spaniards use different expressions to encourage Hans to try the squid. Complete them.

a. We thought you might _______________;

b. You’ll ________________;

c. You’ll really ___________;

d. This is something _________________;

e. It’s really ____________.

3. What does Hans say when he refuses the Spaniards’ offer?

__________________________________________________.

Conversation 3.

- Now, is there anything you don’t eat, Louise?

- Well, I am on a special diet at the moment, Jean-Claude. I hope that’s not a problem.

- No, of course, not. This is a very good menu. I am sure we can find something you’ll like. What can’t you eat?

- Well, I can’t eat anything fried. In fact, no fat at all. Nothing made of pastry or cooked in oil. No red meat, of course. Not too much sugar. I can eat white fish but only boiled.

- What about the chicken here? That’s very plain and simple.

- Is there a sauce on it?

- Yes, it’s a delicious cream and wine sauce.

- No cream, I am afraid. And I’m not allowed any alcohol at all.

- I see. Well, I’m sure they’ll serve it without the sauce.

- How’s the chicken cooked?

- It’s roast chicken, I imagine.

- I can only have grilled.

- I’ll ask them to grill it.

- I’d prefer fish really.

- Well, how about the trout?

- Is it boiled?

- No, baked in the oven.

- Hm, I may not like it. What does it come with?

- It comes with potatoes and fresh vegetables.

- Oh, I can’t eat potatoes. Vegetables are OK. But no beans and….

Questions on conversation 3:

1. Why does Louise have a problem choosing what to eat?

________________________________________

2. Jean-Claude and Louise mention lots of different cooking methods. Complete them.

a. ______________

b. ______________

c. ______________

d. ______________

e. ______________

3. Complete these extracts from the conversation:

a. … nothing made ____ pastry.

b. …. Nothing cooked ___ oil.

c. It comes ______ potatoes and fresh vegetables.

4. Have you ever had lunch with anyone like Louise?

_______________________________________

Successful meetings

1. The best number for a meeting is six people or fewer.

2. Never have food or drink during a meeting.

3. Always start and finish a meeting on time.

4. You should sit round a table when you have a meeting.

5. A meeting must always have a leader.

6. At a formal meeting each person should speak in turn.

 

Task 3. Work in groups. Imagine a company, think of its name and products. Then hold the meeting. You should discuss 2 problems: 1) the date of the launch of a new product; 2) marketing strategy: selling price, target consumer, advertising, sales outlets. Use the following phrases.

 

Chairperson:

Beginning the meeting

Can we start please?

Right, let’s begin.

Stating the aim

The main aim of the meeting is to decide the date of the launch.

The purpose of this meeting is to discuss our marketing strategy and decide which sales outlets we should target. 

Asking for comments

Let’s hear a few more views.

What do you think when are we going to launch this product?

How do you feel about this?

What’s your view on this problem?

Changing the subject

Let’s move on now to marketing.

The next item on the agenda is promotion and price.

Clarifying

What do you mean by …?

Sorry, I don’t quite understand.

Summarizing

I think in balance we agree that we prefer the earlier date.

OK, let’s summarize.

Right, let’s recap …

 

Participants:

Giving opinions

I think …

I’m in favor of …

In my opinion….

Making suggestions

Perhaps we should

We could…

I suggest we launch this product in May or June.

Agreeing

I think you are right.

I totally agree.

Disagreeing

I don’t know about that.

I’m afraid I don’t agree.

Interrupting

Hold on a moment.

Can I say something?

 

Task 6. Work in pairs. One of you is the Marketing Director of a big company; the other is the European Sales Manager. Role-play a telephone call about last quarter’s sales results in France. Use phrases from Task 4.

 

Follow the following rules.

1. A report should be well organized with information in a logical order.

2. The following format is suitable for formal reports:

• Title
• Executive summary – is the summary of the main points and conclusion of the report.
• Introduction – shows the points that will be looked at.
• Findings – are the facts discovered.
• Conclusion - is what you think about the facts and how you interpret them.
• Recommendations – are practical suggestions to deal with the situation and ideas for making sure future activities run more easily.
• Your name and position; date.

Use the following report as an example.

 

Business Software Product report Executive summary We have been contacted by Lenz AG, a German manufacturer of mobile telephones, and asked about the possibility of a co-operation agreement. We would adapt our business software for use in their products. Tests show that their product is a very good one and popular with our target market. Introduction This report will look at: the hardware manufacturer and their equipment software that could be used on the their mobile phones the advantage of working together recommendations for action Findings 1. Lenz has been developing cheap, small-scale electronic devices for thirty-five years. In the last five years, they have focused on more expensive mobile phones for businesspeople. These have been very successful. One in four mobile phones for the business market is a Lenz. 2. Our new ‘Executive Organizer’ software has a lot of attractive features for the traveling businesspeople (e.g. address book, e-mail ware, voice recorder, etc.) 3. Market research shows that there is a big interest in our product being used on machines apart from companies. Conclusion The two companies have products, which fit well together. Recommendation We should have a meeting with representatives from Lenz to discuss a joint venture between our companies, with the aim of putting our software onto their mobile phones. Tracy Brown, Research and Development Director 19 October 2007

Task 8. Comment on the followingstatement using word combinations from the unit in written form (about 50 words):

’Communication is the most important form of marketing’. (Akio Morita, Japanese co-founder of Sony).

Selling online

Online sales are at different stages of development in different parts of the world. Of course, in many places, not many people have computers at work, and even fewer have them at home. Even mail order has not developed. People do their shopping in street markets and traditional shops, so the growth of e-commerce will be very slow there.

In other markets, consumers use computers a lot, but they are very nervous about giving their credit card details online: they are afraid that computer hackers may steal them. The main job of online retailers is to persuade people that their details will be safe if they buy online.

In some places, shopping is no longer seen as a leisure activity. Traffic problems, the difficulty of parking, crowded shops and the high cost of goods in shops all mean that shopping is unpleasant. Thus, retailers have a big potential market. But even here, it will take a long time before people lose the need to touch and see certain types before they buy them.

 

1. The writer is a well-known expert on the subject of online sales.

2. The article describes four types of market for online sales.

3. In the first type of market, very few people have access to a computer.

4. The writer thinks that it will take 30 years for online sales to develop in the first market described in the article.

5. In the second type of market, people don’t like to give their credit card details online.

6. In the third type of market, people would buy everything online if they could.

7. The United Kingdom is a good example of the third kind of market.

8. The writer thinks online selling will last for 100 years.

9. Ukraine is a good example of the second kind of market.

 

Monetary union

The euro is designed to help build a single market by, for example: easing travel of citizens and goods, eliminating exchange rate problems, providing price transparency, creating a single financial market, price stability and low interest rates, and providing a currency used internationally and protected against shocks by the large amount of internal trade within the euro zone. It is also intended as a political symbol of integration and stimulus for more. Since its launch the euro has become the second reserve currency in the world with a quarter of foreign exchanges reserves being in euro. The euro, and the monetary policies of those who have adopted it in agreement with the EU, are under the control of the European Central Bank.   

The European Central Bank (ECB) is the central bank for the euro zone (consisting of the EU member states which have adopted the euro), and thus controls monetary policy in that area with an agenda to maintain price stability. It is at the centre of the European System of Central Banks, which comprehends all EU national banks, and is guided by a board comprising of the President of the European Central Bank, who is appointed by the European Council, and national bank governors.

 

Task 5. Read the text and complete the information below. Organization of the European system of central banks (ESCB)

1 The ESCB is composed of the European Central Bank (ECB) and the national central banks (NCBs) of the European Union member states. In accordance with the ESCB Statute, the primary objective of the ESCB is to maintain price stability.

2 The basic tasks to be carried out by the ESCB are:

· to define and implement the monetary policy of the EU;

· to conduct foreign exchange operations;

· to hold and manage the official foreign reserves of the Member States;

· to promote the smooth operation of payment systems.

3 The ECB is run by a six-member executive board headed by the ECB President and Vice-president. The four other members are in charge of payment systems, banking supervision, international relations, organization, statistics, banknotes and information systems.

4 Interest rates are now set by the ECB’s governing council which consists of the six-member executive board and the presidents of the national central banks of the participant countries.

Understanding main points.

1. The ESCB is composed of the _____________ _________ _______ and the _______ __________ ___________ _______.

2. The ECB is run by the _______________ ___________.

4. The members of the executive board are in charge of: __________

5. The ECB’s governing council consists of

a.__________________________; b. ____________________.

6. The main objective of the ESCB is to ___________ __________ ___________.

7. The NCBs fulfill all functions except ___________ _________ ________.

8. Interest rates are set by the _______ ____________ ___________.

Extract 1.

A: Good morning everyone. I’d like to introduce you all Dr Alan Winter, who’s come over from the Atlanta office to spend a few days at our research center. Welcome to Berlin, Dr Winter.

B: Thank you very much, Wolfgang. It was kind of you to invite me.

A: OK, let’s get down to business, shall we?

Extract 2.

A: And then Juventus scored the winner. It was an incredible goal! Did you see the Lazio game last night, Miss Sterling?

B: Yes, I did. Wasn’t it a great match? One of the best I’ve ever seen. But then there’s nothing like Italian football.

A: So, you like football, then?

B: Oh, yeah. I love it. In fact, my father was a professional footballer.

A: Really?

B: Yes, he wasn’t a superstar or anything, but he played for Leeds.

A: Amazing. Wait till I tell Luigi. Our new partner’s father played Leeds United, ha!

B: Where is Luigi, by the way?

A: Oh, he’ll be here soon. He’s never the first to arrive, not Luigi….

Extract 3.

A: Rain stopped play again yesterday, I see.

B: Sorry?

A: The cricket. They cancelled the match.

B: Oh, they didn’t! Well, we certainly haven’t seen much cricket this summer.

A: No. Chocolate biscuit?

B: Oh, have you got chocolate ones? Business must be good.

C: Right, everyone. I suppose we’d better get started….

Extract 4.

A: Right, shall we start? First of all, this is Catherine Anderson from London. I think this is your first time in Finland, isn’t it Catherine? Or have you been here before?

B: Actually, I came here on holiday once, but that was a long time ago.

A: Well, we hope you enjoy your stay with us. Now there’s fresh coffee if you’d like some before we begin…

Extract 5.

A: You know what’s going on between our vice-president and our head of finance?

B: They’re having an affair?

A: Haven’t you heard? I thought everybody knew.

B: No! No one ever tells me anything.

A: I mean, it’s not the affair I care about. It’s how it affects our meetings. Haven’t you noticed?

B: Noticed what?

A: How they always agree on everything.

B: Well, now you mention it….

1. Germany: Formal introduction. Sit down. Begin. ____
2. Finland: Formal introduction. Cup of coffee. Sit down. Begin. _____
3. UK: Formal introduction. Cup of tea and biscuits. 10 minutes small talk (weather, sport). Casual begging. _____
4. France: Formal introduction. 15 minutes small talk (politics, scandal). Begin. _____
5. Italy: 20-30 minutes small talk (football, family) while others arrive. Begin when everyone’s there. _____

 

Introducing the product

This is our new product.

I’m going to tell you about our new product.

One of its advantages is that …

Another advantage is that …

Describing the product.

Let me tell you about its special features.

It’s made of steel/aluminum.

It weights just 2.3 kilos.

It comes in a wide range of colors.

It’s a well-designed and high-quality product.

It’s robust, elegant and user-friendly.

Stating the product’s uses.

It’s ideal for traveling.

It’s ideal for the home or office.

It’s designed to be used with any type of material.

It really meets the needs of …

It is very simple to use.

Mentioning selling points.

It has several special features.

A very useful feature is the energy-saving design.

Another advantage is its very small size.

Its selling price is reasonable.

You can save 15 $ if you buy two devices instead of one.

I think this device will be one of our best-selling products.

Inviting questions.

Does anyone have any questions?

Would anyone like to ask a question?

Are there any questions you’d like to ask?

 

Task 6. Most products, when new, come with a leaflet in the box. This is often printed in several languages. Find an example and look at the English version. Use the leaflet to make vocabulary learning notes.

 

 

Progress test 1.

Total: 50 points.

 

Total: 15 points.

Total: 10 points.

Part 4.

Total: 10 points.

Student 1

Your company: MTS – a mobile phone network operator, 3 500 employees, based in S