Business Vocabulary Builder

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Business Vocabulary Builder


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Prinkdandboundn HonqKong

2013 2012 2411 2A1A2049 10 9 8 7 6 5 4 3 2 1


Business Paur Emmerso" VOGabU

Ia ry

Builder to Upper-intermedi Intermediate Thewords& phrases vouneedto succeed

A MACMILLAN книга выложена группой vk.com/create_your_english

Contents B U S t N E S St O P t C S

Financial markets

The businesswo.ld

31 Financial markets

66

32 Investing in stocks

68

33 Re.ruitment

7A

34 Pay and b€nefits

72

35 lisues in the workplacc

74

1

The econo y

6

2

Th€ businesscycle

8

3

lnternational tlade

10

4

Setting up and g.owing a businest

12

5

Company tt|pes and corporate gov€rnance

14

6

Global issuesfor the 21st
7

Management styles and qualiti€s

8

Organizing time and work

20

36 Yoqr ba
76

9

Planning and setting obi€ctives

22

37 Your aompany

78

24

38 Youriob

80

10 Leading and motivating 11 Insuranceand risk management

Tel€phoning

Produdtion and op€rationt 12 Manufaduring end engineering

28

13 Inside a factory

30

14 Procurement and purchasing

32

l5 Supply chain manag€ment and logistics

34

16 Lean production 17 Quality

38

lisiening

a2 a4 86

42 Telephoning- arranging a me€ting 43 Telephoning-
88 90 92

Emails

Salesand marketing 18 Sales

39 Telephoning- making end taking calls 40 Telephonlng- messages 41 Telephoning- checklng, .larifying, active

40

19 Cuttomer sedice 20 Markeb.nd marketing 21 Product 22 Distribution(pla.e)

48

23 Promotion

50

24 Price

52

25 Ma.keting management

54

Coftpany tinance

45 Emails- basica 46 Emails- inlernal .ommunkilion 47 Emails- aomrneftial

27 Balanc€sh€et

58

28 Cash flow statem€nt

60

29 Managing
62

30 Profitability

64

96 98

48 Erneils- custom€r i$u€s 49 E nails - arranging a Yiit 50 E n.ils - rcview

100

51 Presentations - oFn-E 52 Presentations - nEin boql

106

53 Presentationi - da*EIF

26 lncome statement

94

54 PresentatiorE - trcr*r 55 Prese8tatioG - t!* 56 Pr€sentatior6 - rrfu

l 02 104

108 bt

I10

I

112

I

114

LISTEiII G SCRIPTs

Meeting5

156

120

Listen and i€peat exercises Intewiews with busiress peopl€

122 't24

A N S W E RK E Y

164

57 Meetings - opinions

118

58 Meetings- making drings d€a. 59 Meetings - problem-solving 60 Meetings-leading a meeting 61 Meetings - negotlating I 62 Meetings - negotiating ll 63 M€eting3 - diplofiatic l.ng$ege 64 Meetlngt - rcview

126 124 130

Businers rcpons and prcposals '134 65 Buslne$ rcport3 .nd propo3ali - rcpotts I 136 66 Suaine3r rcports and proposab - reports ll 67 Bu3ine.3 lrports and prcpoad3 prDposals I 138 68 Buainear |lport3 and prcpo3.b - prcpo.al5 ll 140 142 69 Bualn$a Fporta and propoa.b linkirg wordr 'lM 70 Burlnaar raporta and propoaab - rlvl€w SPEAKII{G PRACTICE Dbcuislon toplaa

146

WRITING PNACIICE

$kiting tasks

t5l

LISTEIIIIIIG PRACTICE Interviewr wlth bBlnest peopler ererrii€5 1

Interviewwith a privateequityinvettor

2

Interyiew with an entrepreneur

3

Interviewwith a management tainee

153

4

lnterviewwith a supplychainmanager

153

5

nterviewwith a salesmanager

154

6

Interuiewwith a ma*etingdirector

154

7

Intervlew with a financedirector

154

8

Interview with a humanresources director

155


151

The economy Whai drives the a orld economy?The simplestans{pr to ilrjs questjor is'cons!mer spending'.And what drnes consumerspendnlg?Sohe cohbination of the faciorsbeldr is generallyconsideredio p(\,ide a reasonablean${cr

GDPgrowth for different countries Grossdomesticprcdu.t (CDP) measuresthe sizc ol a .ountry's economy It reFresentsthe iotallaluc ofall goods ind se^,icesproducedoler a specifictime period. Cro$ th in GDP is one ofthe primarr-indicato.susedto gautc (= neasure) the he!1thof a couniry s e.onom\: Usunll),GDP is expressedas n comparisonto the prelious quartcr or \,ear

Governmenttrade policy Thc hro polcs of govc.rucnt policl'arc liberalizationand 'Lib€ralization'isassoci.lcdwiih frcc markets,open bor.lers,dcr.Bulationand ihc frcc morc,nent of capiinl around the world. 'Protcctionisnr'is associatcds'ith golcrntrent inlcNcnlion, sulrsidics,quoiasand t iffs, and resiriciions o ! l h c m o v c m c n oi i c i p i i a l . Nation.l govci,nnentsdo hi!c som0gcnrin. choic.s herr, cv.n if ihoy .ft'consh.nlcrl by thc p.licy of th.ir rc8ional tridiig bkJc(og the EU, NA1TA, ASE,\N). ln ih. cod host countrieshNc . mixc.l ccdnotuywhich is lonre('herc briwccn ihc two crh'omos. (l.n...lly sp..knrg, froo n.rkots pronartcgrowih ii thc wodd d.onon\', and ptutcct.d markcisdos doer thc pr1,c.ss(.lihough thcy nray ha!. a b.neficialeffecton p . r t i c l l a r i n d u s l r i o si ' r s i d ci c o u D l r v ) .

consumer confidence lf.onsumcrs are confideniaboui tomorrow,they will spend more The main factorsaffechngconsumerconfidencearc the lerel of memplovment ifpeople's jobs a.e at risk, or the\.don t have a job, they sill spend less ind housepices if people'shousesare worth more than ihev paid for ihcm, the\.feel.ich and rvjllspend nrore rrcely.

lnterest rates Inierestratesire setbv CeniralBanks When int€resirates are lo$r.onsumers and b!sinessesc.n boirow mon.y cheaplyand ihere is a sfimuhs to the economy.8ut thc cheap(edit alsocausesinflation an.t too much Liquidjiyin the system.This liqli.lity leadsto bubblesin siock markets, housingma.kets,eic. When ihe CeniralBank sccsthe need b control inflafion dnd cool groivth a liiile, ii .aiscsintcrest

Exchangerates Cur€ncies fllciLutc againstcich othcr thc c!rc itg.inst th. d o l l a r i h e t e n . g a i n s tt h c y u a n .T h i s i s d u c k ) m a n yc o m p l c x factoE such as the undc.lying st..ngth of thc economy, inicrcst ratc diffcrcntinlsand spcculitnr. Ha!ing a sirong curcncv makcs impo.ts chcip f(r dotucsticconsrmcrs.irut huris cxpo.te.s(rvhoscPrcducit bccotuchotu orpdlsivc

The business cycle Economicsgo throughcycl.s ofg(trt,th.nd coniri.ti()n (= sldvdor!n). This is co\ dc.t in unii 2.

Eflects of globalization

C oser

Rapidflow of

Cultural

Ecological

Cross-cult!ral

Global

rmmrgraton;

cnaeng€s n€eding

acrossthe qlobe

externallrnancinq

Arguments in favour of globalization Generaprosperity: lowerprices, moreemployment. hiqherstandard of living. mobility. lncreased opportunjty andsoclal/pelsonal intant lmprovements for poorcountrles: lifeexpectan{y, mortalty,llteraq,padicipation of wonrenin society.

Arg ufi ents againtt g IobaIization lnequality of w€althwithinnations not rnuch'tricke down effect' (whenfinanclalbenefitsarc p.sseddown frombig business to consumeB andordinarypeople) powerof local Humancosts:injustice increased dueto cultures. elites,erosionof traditional Environmental darnaqe.

1 THE ECONOMY

Exercises 1.1 Find a word in th€ text opposite thal matches €ach definition below' The words appear in orcler. 1 makessomethinqwork; p.ovidesthe power for somethng

dctivty 2 removing the ru€sandlawsthatcontrobusin€ts pdysto supporlndunresor 3 moneythattheqov€rnrnent ' p d L , F r p r o . p. oo d u . r 4 officallrnitson the amountol somethng 5 " . p . o . g o o do. - 9 . n l o d . o - n t a / 6 limited,r€strded r e d r o L o ln o n e y n c i c - l c t o . 8 periodsof t mewh-"npeoplepaymorclhanthe realvaue o . o 1 e l 'n q .b . 5 o ' a r r - a o L d 9 wth dn important efiect,but onethat iln t easyto notce th ngs 10 (forma,the degreeoi difference between Now do the samefor the words in 'Efiectrof globalization'opposite. 11 wh€npeop€ h.ve..oneyandeverylhng theyneedlor a good f€ 12 theab ityto readandwlte 1.2 [4akephrasesby matchjngan item from eachcolumn. I consumer movement oJcapital \ 2 fre€ and convacton \ 3 growih \ ...- borders 4 Ie rpendinq 5 open oi livnq 5 standard expectancy 8 9 l0 1I 12

goods rnt€ren cheap socia L r n d e rnl yg

1.4 Readthe articleabout the USeconomy,then answ€r the questionsbelow.Checkany unknownwords in a dictionary aiulacturng in the US slowedmorethan lorecast it lUl ln Ocloberas factores recevedjewerordercafd producuonconiracted,an induslryreportshowedtoday. Manufacluring Lson lhe vergeof stallngas the deepenng housing weakens demandlorconstruction equrpmenl, slLimp nole the furnilureand appliancesBul on a moreposiUve weakerdollaris boostingexportsand he p ng companes thatdo mlch of ther busin Theseilguresmake it ciear why the Fed clt nterest Fed ratesby a quarterpoint ast week. n theirstatement, porcy md.€rssard rl-dl rl-eouloo o ho p, or o n) ( unce ain,evenafterso d growlhast qua.ler.Theyadded lhal upsideriskslo lnialionroughlybalancethedownsrde riskslo grcwlh. Finda word in the text that means: 1 (ftvewotds)rcat1yslopping n its progress beiore 2 perodwhensometh ng is muchesssuccessiulthan : hepi.gsorel' nq ro n.'pd" 4 (shortfam)Cefita Bankol the UsA 5 approximately topi.s. seepage146lorsomediscu55ion

srengrn

oamaqe

1.3 Usephrasesfrom 1.2to completethe sentenceg below.The phrasesare not in order. w qrcw { q]]:njlql l|ert'rfg rsnsrnq 1 Theeconomy 2 conslmersandbusnesseg cantakeon too muchdebtif re e 5 easJaccess to bul alsohrgher 3 Econom c qrowthbr ngsmateriacomforts, prcesfor the bascnecessties of ife n oiherwords,your qoesuP,bui sodoesYolr costot vinq 4 Econom esqo throlghcycl,"s of 5 The nraintool avail.bleto a centra Bank s ts abilityto s€t O \ e ' - h e o , r gr p r

e , . r d n q A, d r F .d p p p d ' or lr€ or rne economy.

' fAi ;;t tr

d?

;t \lir tht !,nan|

T h eb u s i n e sw s orld

7

History shows thal there is a business cyde that repeats again and agai4 although of .oue tlle detaiis vary each time. Look at the diagram below. The outer circle is the €ycle of e€onomic expmion md conbaction. The next circle icide shows some s€€torsof fte economy that tend to do wel at particular tims duing this cyde. The cnde inside that shows inter€st rates and infiation. Finalv, the imer cinl€ shows the sidk market cvcle.

Grotvth Let's go roud the diagram,starting at twelve otlock. This point marksthe end of w€aknessin the €conomyand the early siSnsof growth. Wlat hascausedthesegr€€nshoots? Theclue is interestrater which bottomedout around eleveno'€lock.lj)w interestratesmeancheapborrowhg for individuals md compani$. Amongst the quickests€ctorsto resPondm consmer discr€tionary(eg restaurants,leisure, travel) hd technology. On€ethereare€arly siSnsof growth, tnnsportation picks up (moregoodsarebeing shipped),and indu€try spendsmorc on capital goods(egmchinery). During this pedod,infiation startsto rise, and sobondssuffei Bondspay a 6xed rate of interesito their bondholde$, and the value of this intelestis erodedover time as inflation go€sup-

The peak of the Gycle A1l good things mEt come io m end. rs six o'dock on the diagram- By now inflation hd bmme a prcblm, md Cmrral Banls have nis€d inteBt rates to deal with it. That means that credii is tighL md bonowing is expsrsive. The

stock market rccognizes that tl|€ 6d is omin& ard perts just before the final p€ak in the e(al,dr_r. Inr€sto.s rsw (eg switch to more d€fensive stocls lik€ drglffi.riples food, household products) and utiliti.<

Corltra(tion Now ils seven o'dock arld w€'rr {tkd d. Fin of conhaction. Stock Mkets are A|L? Ltcrd 8-Ls se€ the danger md e low€rit iH rG b -'m8e spending md avoid a r€.tsin- Bd q'd Frtudy to the drop in rat6, md th.{.as'hlh. to f;l. safety' etr(t 6 inv€srors rFirD-.b -&-

The bottom of the q* Evmtuall, firffiials stdt b .--fq bonowin& and ttF th. !d_'-G about six to niE r..dE i J-{-.F economy. Just like 4 dE qrJ|tqt,tE|ct ro knowthara hmirahl__,_y eonomy is $ni4g b i----l

rtqte

nore a bottom ir d€ real s€€ms Now the rd fte whole

2 THEAUSINESSCYCLE

Exercises 2.1 Putthe words in italicsin order 1-4. a Theeconomy, nart ng at twev€ o clorkon th€ diagram, rhows .. contraction I a downturn an upturn ) expansion b Thenock market,staaring at eleveno'cockon the dragrdm,.. perks battoms turnsdawn 2.2 MatcheachsectoroI th€ economyl-'10 with an indurtry group a-i. 1 Basicrnaterid s 6 Enerqy 3 Cornmerc al serurc€s 4 Consurner d scretonary 5 Consurner stdpes

8 Technology 10 Ut (res

a holes,restauranis c d € f 9 h i j

empoymenl agences, audtnq rnachinery, eqLiprnent goods, household foodretailnq insurance banking, software, rommuncatonsequpr.ent gasprodu(ton oilprodlction, electrcty, waier air nes,ogsllcs

2.3 Underlin€the corr€ctwords in italics.Checkany unknownwords in a dictionary.Someideasbelow are alsoaovered in unit 1. 1 Thecons!merdrscretionary slartsto sectoroi theeconomy recover wheninterestraresarch/gh/iow, andlustbelore picksup I tuns down the generaeconomy 2 Inve9tors iavoLrr theconsumer stapessectoral lhe grcwth beginning end / al lle cycle,lun asthe markeisare pickingup / tuntng down lf a qovernment it or cornpany wanlsto borrownroney, canits€ a band I an obllgatronlnvestorsre.eivea F/ied/ vatiable,aleol nlerestovera f xedperiodof time.and lhen gettheirorg nalinvenment backat theend A risen nterestratesrnakes borrcwng.heaperlmore expensive.Ihi\ caols/ stlnulaterihe economy. CentraBankslower nterestratesif iheyth nk the economy s ikey ro gtow/contrcct,andwil aciaqgrcssvey llhey thinkihere s a danqerof a baom/ rccessian Stockmarketsfend to arfic,bate/ mavein linewith / react ro cnanges InrnereaLeconomy nterestratestendto bottomout before/ afterboththe nock markets andthe realeconomy A risng marketis calleda bearlbul/market.Peopewho th nk thai d paarcular mark€tk qoingto risen the lutlre arcdescribed ar beingbulrsh/ bull/ke on that market

2.4 Compl€te the text about dealing with th€ business cyclewith the phrasesin the box. govetnnent debt labaur natket ne\,r'bonawing poh.y n,akeljj side-effects tax cuts

What.ancentralbanke6andgovernment ' do?can theyprevent a contractonfromturnng inloa rccesson? Whattools areavaabe io them?Thefollowingihreearethe most Interertrate adjustments Thesvonqest economy andfastesttoo n a weakening s the cenvalBanks'abrty io cut rnteresl rates Forcompan esand ndvidu.s with existnq bank repayments oans, arered!ced,lor others, ' €ss oecomes qlrarteFpornts expen5veMostCentraBanksdropratesby ralesst takestwo or,at cruoa t mes,half-ponts Lowerinq or threeqlarlersto benefitan economy, andit doesalso Thenegatrve arethat t weakensa ndtion's consequenc$ (urren.y.andthatanyqrowthi t c a u s em s a yb e i n f l a t o n a r y Economic stimulus A naiionalgovernment canchooseto spendmon€/ usudy moneyrt mun borrow on all sorisoJprcjectsn orderto nimulateihe economyThs puismoneybackinto peop€'spockets to so thattheycanbly goodsandservces o boostlhe eco.on/ -fhe areanotherwayoi achevng the sarneeffect. problem leadlo hiqh evesof arises whentheser.eagures y thai Eventua have debtwill to be repard Regulatoryreforms A counlrycanimplement reforrns to the aw in ofderio groMh.Theseincludemeanrres stimulate to enhance competition. to liberali?e the siada newbu5ness,€tc. Seepage146for somediscussion topics.

lnternational trade De.iding to export t\try export? The two mosi important reasotr are likely to be: 1 To increase sales and revenue. Expoiting i{il allow you In ,lp u J e F u . p d c d p di' h . n , r e a + "dunliBeof"nl production,reducemit cosisilrough economiesof.cale and increase profits if thin8s go well. ,r To diversify. Relying on jrst yotrr own domeshc market is risklaSelllngto other countriesallows you to splcad the Bui befoie decidingto export thereis a lot of !6earch to be done on the foreign market: /, Backglound:economi. siiuation,poltical stabiliry a Markei sizeand likely product demand. 'f Competiiionrsimilar productsalreadyin the market. ,, Disiribution channels:agents(who act on your behau and receivea commission/but don'i buy goodson their own account),or distribuiors (who actuallypulchasctoods from you for resale,likea wholesaler). ,, Promoiionalmaterial:salesand support matcrial needed in the loc.l lanSuage. 1,,customcrservice:Proceduresforenquiries,comPlaints, w.rrrarltyclaims,servicing,€tc. ,, Lcgal rcquircments:iechnical,safetyand cnvironmental

The first step in €xporting is likely io inlolve an iniermediary (eg lffal agent,distributor).They will have local knowledge and contacts in the unfamiliar market- If ihings go w€ll, the exporter may then decide io establish its own presmce in the foreiSn market such as settinB up a sales office and wareholse.This allows diiect contactwith cuslom€rs,faster d e l , r e r ya n d r a r e c o n E o n l r r h c I n c r lm i - 1 p , . Two key issuesfor an exporterare a)the method ofpaymeni seethe tablebelow and b) who pays for transportation. This latier issueis coveredin the contiactby specltyingthe relevantlncotem (IntemationalCommer.ial Term)for iliat particllar consiSnment(= quantity of goodsshippcd at the

Other options Exporiing is one way to selLyour goodsinto a foreign narket, b r . rt h e r ca r eo t h e ro p l i o n s . rr i l r b l e r o L r r 8 ecr o m f . _ . rr /j, Ioint venhtre:two companies(a foreign companyancl a localpartner)work iogetherbrt keep their own lcgal r ForeignDirect Invesiment(FDl): a busin€sssetsLrp operationsin a foreign couniry,or acquires(= buys). 'oca' comPany. r Licensing:. companysellsthe right to usc a patented manufacturingprocess,orsomecommercialerperiise, or a irad€mark,in exchangefor. feeor a royalty.One particularcaseof this is franchising.

L€tte.of credit(UC) paymentto one bankguarantees

(Pre-payment) anotherbank.Theirnpo er Cash-in-advance Pays

Theimpoderpay$th€ invoiceln advance,beforeshipment. Whe.e ih6y onlypaya part in advance,it's calleda 'downpayment'.

whenlhe exporlerpresenlscenain listeddocumenlsto theirbank. Typicaldocumenlsneededare: documenls{eg bill lransponation documenis, of lading),insurance documenls(eg invoice). commercial

oderaccouni Thesuppliefshipslhe goods,and the importerpayslaler,according to lhe termsof lhe contraci.Thisis morersky,and is onlyusediflhe lmponerhasestablisfred a qood credlthislory.

LO

Documentary collection A cheapervaiationof an L/C.The lwo banksmakeno guarantees, but simplyhandlethe exchangeoi

Consignment Durc..has€ Theimporterreceiveslhe goods and holdslhemin stock,but only pays lor them afterihey have been soldto the end users.

TRADE 3 INTERNATIONAL

Exercises 3.1 Find a word in the text opposite that matches each definition below. The words appear in order 1 fthreeworc&)spreadng cons ov€f d ldrgernumberoi un ts, and ihereforeproducng th ngs moreche:ply

3.4 completethe text about Incotermswith the words in the box. Noticethe glossaryat the bottom. ./€arrr.e customr .iacunentation freight ttu.k handling laading ptentses temlnal ttansi

of you 2 (threewords)instead of you,or dsa representatve 1 3 wrttenpromise thata company w reparsomethnglf 4 b q bu d ngwherelargeamounts ol qoods arenored s sp€calrks or knowledge 6 nameor designon d productthatshowsrts m.de by d partcudr compdny 7 non€ypdd ior profess ona setuce5,or a one'tim€amount you'r€ 8 moneypaidto sorn€one whosedeasor invenlrons U ,n g Now do the samefor th€ wordsin'Financing internationaltrade' opposite(aleocalleda 'b ') reqlestnq paynrent 9 document 1A fthreewotds) n givn9 d€ta! of goodsthata shrp.etc|s carryng,. so actEasa conlractto tr.nsportlhosegoods 3.2 Make phrasesby matching an it€m from each

2 relyon 3 spredd

-

c m.rket lun yourdom€et behali on somebodys capac 1y of anyunderured thenik

5 estab sh a presence

to the termsof the contra.l

7 h a n de i h e e x . h a n q e 8 pay accordnq

lega dentiy

3.3 Studythe methodsof paymentshown in the box opposite.Thencompletethe diagramby writing the five methodson the horizontalaxis.

What are ln(oterms? lncotermt statethe responsiblties of buyerandseler n relaton to marnetranspodatonnotjusttheshrpping cosls,but all otherassociated costsslch as nsurance, ' duties, andqrcund The buyerpaysfor the seacrossing A prcequotedEXWiswherethe te ler makesthe goods avail.ble.l thelrownr , anolne billtyfor a buyercollecls themthere.Thebuyerhasrespons costsandrsksfromthal po nt onwards. lhe othertranspori lf th€prceisFAS,lhen thecostof theseer a socovers p o ( o l s hp m e n t a . n d o f ! n l o a dn g t h e . o n t an € 6 o n t ot h e

'roo ne ouyerpaysror shrpp usa the.ons fromthatpo nt.

FOBs alrnostthesame,exceptherethesellerpaysfor oadrnq ontotheshrp,nottheb!ye. Thesellerpayslor the seacrossing

N o { + F g o o d _a ' " 0 1 _ l - F . l r p i 1 " p r p a sb e " - ' " 1 so that the se er also paysthe ' (= goodsand the ryslemof movrngtheseqoodt cons, then thererre f!rlher hcoterrnsto be used Wrth CFRthe seler paysthe lreght costsand handlesthe (= paperwork),bLrtdoes expon 7 pay not lhe nsuranc€wh le the goodsare n s a t s e a .W i h C F i h e s e l e rp a y s nsurancers well. 8ut in both casesthe r responsbi ty endsat the port ol denination,wh le the goodsarc st on board.The buyerhas responsbilty for unloadnq iees, oca noraqe at a e , the mpo( cen.e, duti€sand tax€s,the custombroker'sfeesand onward de iveryto th€ buyer'sown premses. In rhe final c.se, DDq it! lhe sellerwho paystor everything,and who also hdsto handledny clstoms 'o probems.The buyerhas no .dditonalcosts or isks at all but of (oLrrsethe pnce quoted in the contfactw I reflectthis!

RISK

EXW Exworks tAs: kee A ongsde ship

I Y P E SO F F I N A N C I N G

C F RC o n & F € g h t . eF r e g h t C F r C o n , l n s ! r a n& DDP Delivered DutyPad

S e ep a g €1 4 6J o r s o m e d i s c u s s i o tno p i c s . The businessworld

I

Setting up and growing a business Initial idea Someonehas an idea for a newbusiness(a'stait up'). Maybe they spoi a 8ap in the markeL or maybe they have an idea thai is simllar to existingoffers,but wiih a competitiveedge.Pot€niialsourcesof financefor ihis new businessinclude sclf'fuding, backerssuchas tsiendsand family trenbers, a bant loan, and a venfurecnpital firm. A bank will want somesort of securityin casethe loan is notrepaid, and sometimesihe person'sholse is offered as.ollateral.The fourth option, venfurecapital (VC),is aiiractiveforbusincsscs$'jth a high profit potentialin the medium term,but high start'up costs.A VC company $'ill offer funds and take on the risk of thebusinessfailing, but in exchangewillwant a lalge number ofshares.They aim to sell theselater,wlren ihc businessgoespublic

TENREASONS WHYA NEWBUSINESS CANFAII Cause:startjnga business Solution:Taketime with a goodidea.some to research the market tho.ouqhy beforeyoustart entnusiasmbut no serous tradng

Cause:buyingtoo rnuch paytng srocK, cusromers l.te or not at a I, suppliers needng to be paidon t me

Solution:prodlcereaistc cashflow forecasts andpay strct atlentonto budqets

Cause:Sticking with your own onginalideasfor too long

Solution:Activey seekthe MewS 0l cLrStorneTs, andac1 on whattheysay

- a Cause:f. seeconomy cheapleasein thewrong neighbourhood

Solution:remember that accessib lityfor cusiomers s

When financingis in placc,the businessis registeredas a lcgil entity: sole hader pa.tnership,limited compant etc.

Early months and growth phase Now thc businesscan start trading.The risk of failu.c nr thc first iwo yearsis very high. Oftcn thc problem isn't salcs,bui cashflow: ihc cornpanyhas to wait for its invoiccsio be paid, and mcanwhilethc debtsare piling up. Thc bank will onl), extend its linc of credit up to a But hop€fully the businessachicvcsa critjcalmassot custom€rs,and esiablishesitselfin the markerplace.lt entGs a gfowth phase.This early growth tendsto be organic tlrnover increases, the companyemploysmore ' l d ( v c o p s . r. u p p l J n e t w o r l .. r c . I h e m d l o r i r yo , "rdff. n r r l l . u m p r n r c sr ! : t c o n l n u ei n r l - F w d v - g r o w i r Bo r shrinking ye.r by year dependingon their managerial skills and generalmarket condihons.

Sellihg the business However,thereare olhe. possibiliiies.The founder of l h e b u - i n c \ \m o ! d e c i d el o - c l l t h eb u \ h ' s \ d i d g o i n g concern.They might sell to a competiior or io a company wantnrg to expandinto that market.The buyershele nrc lookirg to Srow ihJolgh a straiegyofacquisitions /- at
Cauierthinkingthata good Solution:b€ creative, prodlctw ll sellitself y revrew constant the plan marketing

Cause:beingtoo ambitious Solution;be realistic

yo!r seed Cause:spending

Solution:p annnq, keeping

Cause:behaviour of some

Soiution:tra ninq, monronnq,comp.nycl]rure

Cause:assuming thatyou irve customer loydlry

solution: watch .oroet Lorscose)

Cause:compacency afl€r nitialsuccess, lackof

Solution:be flexble, recognLze oppoftuntres,

tPo Anoiher possjbility is ilut the fouders may decideio go ptrblic (= floaillisl on ihe stocketchange).Here, they sell their onginal privately-held shares at an IPO (initial public offering). Thii brings in a huge amount of money, some gojng dilectly to the owne.s as rerrard for their hard work, the rest going back into the business as

72

4 SETTINGUP AND GROWINGA 9U5INEsS

Exercises 4.I Finda word in the t€xt oppositethat matche5each definitionbelow.Thewords app€arin order. I smaladvantage............... y by providnq money 2 peoplewho slrpporta pan, especia prcpertyor moneythatyoupromseto g ve someonef you (farnal:tuvawards)busness that s a singleunitiroma lega'o'd..of ingpo' ol vew g vingdetailsof products thatsorneone docLrments payment for th€m hasbought,andrequening to manage 6 (phrcsalverb)incrf.asnq in a way that is difficr.rlt 7 Income,revenue 8 rrhr"" nord5rd srccess'ulblsirei) a corpd €s I dl hole beenboLghl by o her co'npanip5

Now do the samefor the words in new businesr
for invoices to be p. d

5 spot 6 takeon

tailing the riskof the business or snnnKyearDyyear

7 8 9 10 rl 12

brng n enter extend 9o grow se

asa gorngconcern the busrnesr a hugeamountof money a growthpnase y or by acquisitrons organLca

4.3 Fill in €a
cut €stmare expang ide spend take

pefiorn

]

1 lf yougrowa business too qucklyandtdkeon too m! c h tr:lrxP;rro rlsk,you you lf yousellgoods at a ow€rpfcethanyourcompettors, yourcompetitors. or li youdo.'t makear muchmoneyasexpected, yo- rele5s succ"rs'u1vo-' ob lrdr e pF(rod.ycgoespan anothern termsof sales,profiis, lf yourconrpany mdr\€l-rdre.etc.rl"pnyoJ you or morethanyouplanned, lf youusetoo muchrnoney, by m n.k€), li youaska c ent for too litte money(Lisually you lnera. decslon,you authortyto relectsornebodys 7 lf youuseyoLrr than or essimportant ng issmaler 8 lf youthinkthatsomelh rt. t reallys, you 4.4 Readthe text about fran.hising,then answerthe

lltould voLhhelo srarla newbLs'r€ss,perfapslrr 19 Y U a smattrera'oJrler?Frarchsing s an oovioLsopl 01. 'lfanchsor') Howdoes t work?The parenlcompany(lhe ollersyou (lhe lranchisoe)ts trademarkprcduclsand businessmethodsYoupay theman initia fee to usothe ot lhe lurnoveras we . name,andthenpaya percentage idsntryslandards lo lulfillcerlain corporate Youwlllneed lts hald suchas thoserelalng io lurnilureor stallunlforms. yo!?e buy ng a w€I are firany: work,but the advanlages is knowobrandandthe risk minimzed. po nt of viewthe benellsarec ear Flomthefranchisor's Theycan leaveihe day{o-dayfiJnningoi the buslnessto you,whilegeliinga shareoi yourturnover Finda word from th€ text that means: wherea prcducts sold 1 anypLace (orto a professiona p€rson 2 moneyyoupayto do something for theirwork) 3 do 5on'elfnq p'on'"d: Fd'l 4 levelso' quahyo' a,l_eveme_ . 5 operating andmanagng .... . topic.. Seepage146for somediscussion

@

ao-o.t y types and corporategovernance

Company types ln 1aw,thereare various types ofbusinessentiry.For each one there are different legal adangements to register the conpmy, different requirements for presenting accomts, eic. The main business t'?es are: Sole trader (UK) / Sole plopdetoGhip (US) A singlepelson owns and operatesa business-Legally, the bushesshas no separateexistencefrom its owner (proprieto!).This meansthat.ll the debtsof thebrsinessare ihc debts of the owner Partnership(UK and US) Two or morcpcoptc s'ork togetherand sharethc risks and profits. Justlikc a solc proplietor the partners.rc fully liible f(' (= responsiblcfor) an)' debis the businesshas.This is .efefed to in law as lurlimited iiability'. Cofrpany ruS and UK) / corporation (US) Thcb!snless is a lcgal cniity ihat is separatefrom its or'ners thc sha.choldcrs.Thc osne$ are not fully liablc for the debtsof the busincss.lnstcad,then liability (= potcntialrisk) is rcstrictedb thcjr sharecapital.This is thc amount of cash ihat they havecontribuicd to ihe compan}l This,s rcfcred k) nrl.w .s'limitcd liability'. Theredr€ lwo manl rypesofcompanies: ' l'rivate company:thc sharcs(ArnE sto.ks) arc'p.n atc in thc sensethat thcy cannotbe bought by mcmbersoi thc public. Thc vast trajority ofcompaniesfall into this catcgory.Thcy'rc oftcn smallercompanies,with sharcs hcld by a fei{ businessassociates or family nembe.s. 'i Public.omp.ny: the sha$s are openl!' b.1dedon a public stockexchangc.Thcsearc thc large,often wcll-known businesses. Thc word 'public' should not bc confDscdwith 'siate{wned'. A'sialc-owned cntcrprisc'(SOE)is o$'ned by the government.

The Board Public companiesare.ontrollcd by a board ot directors('the Board'),eleciedby the shareholders. Noi allBoards are tully independent,bui in generaliheir rolc is to: ,| Setlong term straiegy. ,r Appoint a ChiefExe.utive Officer (CEO)and other membersof the seniormanagemeniteam kJ run the .ompany dair to day. 't Ask questjonsabout any short- or medium-term straiegy developedby the CEO, and then suppori it oncethey have tl)

Overseeihe preparationof the finmcial statements. Appointand ensurcihe independenceof the company's

t Overseeand managerisk. ,r' Set an amual dn'idend. Who choosesthe Board? In theory',jt's the shareholders. At the Amual GeneralMeeting (AmE Annual Meetingof Stocholders) the shareholderscan questionBoardmembers, 14

vote io accept or reject the dividend, vote on replacements for ieiinng Boad members, etc. But, in piaciice, the situahon may be different. In pdticular mosi shares are held by la€e institutions, and these may simply sell their stake if they aren t happr instead of qving to chdgc ihe Board. In reaiity many Board members arc chosen by the CEO and the shareholdeG simply approve ihes€ members.

Corporate governance T h i " w h o l eN \ u cu t l h e r o l
s:'., :F.$.it

'

Anglo"Am€ncndod€l:epafarionol ow.e6hlp ( e prioritygiventothe shareholdet) andconvol(iemanaq€u); inter€s$o1sh:reho der I

tlopcai / rapai6. nodel: similar1othe Afglo-Ameri6n model,bur a greaterrecoqnnon otthe intere* oi orher elakeholdeuruch aremployees, 5upplie6,cunomeu,enden (es bankt, andthe .ommunity.

I

EaetArian/ tarin nodel: family.owned companie5 wilh no i^deoendenl Boad or outiidesharehold€u.

No*adays this traditional pattern is breaking down, and the siiuation is mor. mixed. Howeeer, the followmg basic piinciples of corporale govemance are widely acc.ptedl , ' Respeci for ihe righis of shareholders. I A clear definjhon of the roles and responsibilities of Board r' Integrity and ethical bchaviour Disclosuie (= givhS tull informalion)

and iransparency.

GOVERNANCE 6 COMPANYTYPESAND CONPORATE

Exercises 5.1 Underlineth€ (orr€rt wods in italics. 1 Moneythata personor compdny owesis debt/ /abiltty whenusedin the pluralandin a Th€worddebts/ /rabtlites, - but it canalsohave formalcontext.hasthe samemeaninq a widermeanng oi 'egal responrbiltiei. 2 fhe wotdowner/ prcptietormeans thatyoulegallyhave som€thing anything. ThewotdownerI propnetarmeans thatyouhavea busness(andis morcfo.ma). 3 f youandyourbusnesspartners all haveth€samerisks at th€ sametime,thenyoudrrde/sharethe rsks.ll you partsor ditfercntcategor es, separate the isks intosmaller thenyoud/v;de / sharethem(= spit them). 4 A sharchaldett stakehalder/ 5toctho/d€rs someonewho I in Bit sh EfglishA shareholdet ownspaftof a br.rsiness, / stockhalder s the same,in Amerca.Engsh. stakehalder A shareholder/ stakeholder/ sfockho/deris anyonewho has an interestn the success of a plan,lyslemor oaganzaton. in a company, theneveryyearyou 5 f yoLr're a shareholder tecevean incane/ a profit/a d dend pad out oi the incane / prcfiE / di\/idends. company's 5.2 Readthe definitionbelow and tind the word in the text. (lt appearstwice.) for anyinstitution, company, fforma,'ageneralierm parinersh p, governm€nt agency, or anyotherorqanrzanon unit. whchexistsn lawaraseparate andcompete 5.3 Fill in the miising letters, y thenyolJ'rci 1 f you'recompeteyliablefor something, iabe, in l.w thenyou'rele lly 2 f youle lablefor something liable. thenyoure 3 lf youas.n ndvidua.reabelor something, per allylable. |ally 4 lf youmaybe abe for somethng,thenyou'repot llable. 5 lf youkeepshares for . longt me,thenyouh them. 6 f yo! buyandseI shares, thenyouir them

Now do the samefor th€ tcorporategovernance'section. 5 th€ qualityof belnghonestandhavng highmoralnanddds 6 doingthlngsln a waythatallowsotherpeop€to know exactly whatyou'redoi'rg 5.5 Makeword partnershipsby matchingone item from to complete ea(h box. Thenusethe word partnerships delatletl legal ltnted liabllity

non prcfit aryantzation

namecantellyouabout TheletteEthatfolow a cornpany ha5'Lld.fter its name In the UK,a pivatecompany (because of itsowne6)and oi the ' hasPLC(standing for Pubc Limited a publiccompany Company). In theU5.'1.(' {L.litedL,ab,'ty Conpany) and Co'o'a'e equivalents to'Lrd'and 'PLC',altholghthe app.oximate ? governing formationrs company diffefentin the two co!ntri€s. TheletteB'lnc'(meanng 'rncorporated')are alsousedn the lJS,aodtheycovera verybroadrangeof ofganzatons. Theycanreferto anyI rhar s seoarate fromils ownerssuchasa privatecompany, a public c o m p a nay , .o osPorcl-D 5.6 CovereveMhing on thesetwo pageswith a pie.e of paper.Write down lhe fullform oI thes€abbreviations: CEO,AGM, PLC,LLC. see page146for somediscussion topics.

5.4 Finda word in The Board'sectionoppositethat matcheseachdefinitionbelow 1 waichthe pfoqress of sqmething io makesurcii'sdone correcryt supervEe ....... 2 exiernaf rmsthatofficlaly examnethe financalrccods of a company to seeihat iheytetrueandcorrect p.ysto 3 an amountof the profis thatthe company 4 moneyinv€sted in a busness

dlu k 1tu6 oI r dt 6 ot lhfu;rt?"

The businessworld

1:

Global issuesfor the 21st (entury Geopoliticsand the world economy lvhat big-pictureissuesare likel\'to dotrlnate geopoliiicsdrl the rLorld econotrv in th€ coming decadcs?Here are somesuggestionsl The Browth of the BRICS T h " q L ;{ o r \ o f t h . 2 l . r , F . r . f l . r h c r r ^ \ ' h ' Brazil,llussia,lndia and China (plus the Middle East). This is ccrtain io tr.nslaie nrto lncreasedgeopolitical tuflucnccfor ihesecountries The decline of the dollar One ifrp.ct of thc prcrious trend is thdt the dollar will krseits statusns ihc l\'orld's r€serle curr.nc\: Cent'!l brnks rvill hold fci{cr dollars,.nd oil s ill be priced in i rangc of currcn.ics.But rLhai clsc sill h.ppen h the c!(cncv arca?Willa.onmon Asian or Lath Ame.i(.n c!rrcncv.tncrge? And what atroui ih. nrternalconflio c tv c r t h c . u r o - s h o r i d i i b e s t r o n gt o fighi nlflitior or {'cak to heh exporters? (;krhl !!armnlg is hippc,rint Ho('.!cr, any srlulxu l " r l r , l , l l . r t r h rf r " r ( . . , . i . i r . , r . . tr . ., { r ' ' r .. is likcly i(r trc rcslsidrl.DeYck,pnlgcouni.icsc.nl rccus. lhc Ll.!ck)pcd nitions of h!poc,is! $cstc.n c o u n i r i c sh i ! c i l r c i d ! b d c ni h r o u t h t h e i , i i d u s b i i l f h a s ci n d D o r ! h . \ . l h d l u r u r ! o f t h i n k n l gn l r d u t i'stnin.ble g()wlh. Dclolopnlg naltun! Llont haro

' , l + , ' ^ , p ' ' , , r i ' - : , { r ' r ! p , 1 , \ \ .\ s " { . lh.r.'s just ndt cnough lefi nr thc gnD.l. 5o supplv js s]finlitlg. lso, dereloping nationsarc hungry id oil - ld tr.nspo.t, nldusq, etc.So dcmand is risirrg.hrt logcthcrfilling supplv an.l rising dcnrandaDd lou gcl onc thing: much higher pricesfor the i.rcsccablc Energy se.lrity and alternativeenerSy Somccountdcsh.!e a lot ofenergy re$urces, others don't. And if you don't, you hive a nrajo geopoliticaI problen. li's calleddependenc\.Put this issue bgether s'ith pcak oil, and it points in one dnection: aliematile cncrg\. But sone g.een acii\ists are unre.listi. about this solar Nind, tidal, ei. can onh nreeta lraction ofthe world's energl'needs.The one technologythat might make a differenceisnuclear. And ihat, of course,is.onhoversial.

Management andbusiness

il.r3!iri ,!.i: ne<.!'.'r'rrh.idr,cJr tfril.l..1jLir;. th:r i.alj I r e i : , r . !i < r u ? s . i i r i :2 : i r . : i i r n , l ? e . : i . . , r . rj .e r L i . .h . 1 o , , 1 Forme,branding anddesigni€ the keyiss!es. Customers caneasityfind goodquatityandvalue-formoney attour youneedmorethanthis, compeiitouoff€rthis. Tosutujve, yo! n€€dbrandirq. Without a strorqbrard,youhaveno customer toyattyard no pncingpower.Ard tinkedto brandirq is design- cusiomers witt piy for desiqn.Thesearethe major batttefietds in moderrburinesr,not costor quatjty.

1r ourorganizalion, findinganddevetoping tatentis going to bea majorissue. There's a dectinjng birthnie,ardtlre incrcased mobitityof tabourmeans that workers canchoose wherctheyworkandfor whom.Sotalentis goingio be in shortsuppLyAndthats paticutarLy truefor knowtedge workers andcreatives. Wewitl needto find waysto motivat€ thernand retairth€minside ourorsanization.

In the modern workptace, manaqinq diversityir goirg to increasinqly beconre comptex. W€vegatissresof gender, ethnjcity ard dge.Wetry to make equat opportLrities work, butwehaven't doneaswettaswe'dtike.Andnoww€have newprcbtems oi muttjc!tturat managemert across nalionat bo.ders. Imaqine whenteamnemb€rs lhe probtems from different cutturatbackqrounds hotdvjduatm€etings on the webwithout th€charce to qetto kfoweachotherin person.

Theissue thaiwelatkaboutmoreard morethesedaysjs CSR - corporatesocjatresponsibility. I'm talkingaboutfair trade, theenvjronmertat impa.tof business, theeffecton tocat .o-1r ri'r'es. rs ainab e devetoplear. tdbo..pra-riLe' , d stuff tikeihat. Campaiqns by activistscanaffectyourprofits anddestroyyourbrand-

In nra'ry industnes a majorissueis the threatcausedby the Internet.Basicatty, if it canbe digitized,it canbe pilated. lhe musicdndsoftware industries havealreadybeerhit badty by this,the fitmindustryis nextandpubLishirg wittfottow.

ShortagesoI otherresourcesand cofrnodities The bad nerls continucs.As ryell as a shotage or energy,{,e're also short of water (in China,Southem Europeand the MiddLcEast).And as h,ing standards rise, $Ie'11 find that manv agricultural.ommodites (eg ('heat, com, neat) are jr short supplv as well.

16

GeneratLy speakirg,qtoba[zation hasbeengoodfor bLsi]ress. But nowthereis a backtash againstgtobalization arnongst the pubLicIhis is creatjngpotitjcatpressures for protectionisrn aid for tocatsourcing to protectjobs.ForLsthai means reduced access to worLdmarkets andhighercosts.

6 GLOBALISSUESFORTHE21STCENTT,RY

Exercises 5.1 Make phrasesby matchingan item from each I geopotrca- ------\ 2 .limare 3 globa

\

warming i.fhren.e growth change

5 p€ak 6 green 8 livng

5.4 Fillin the gapswith a differentform ofthe worcl in brackets.Th€ new form may be a noun (singularor plural),verb or adjedive.Somewords are not in th€ text. (warm)afdthe 1 Glob. .'r!l!ll /.1..r,..n1r rh6 0-,'..rrent

ore

(threadthe planet (.ctive)dndotherpressure 2 Green groLp)d e be(onig inr'edr19y i , n { r , , o n . o \ , n r r o r 4 r m i nn . r h 4

banlef€ld

9 pricing 10 decning 1l knowledge 6.2 completethe beginningot ea
(environment) polici€sof argecompanies. 3 G e n ec (controve6y),but many developingnalionr see ii ar the on y way to ensure (grow)in agricultura continuing lpfoouce)

4 Ther governmentS isoneot rapid

(-"conomy) strateqy ( n d ! s t r a l i z €T) .h i sh a s

supply

2 behungry 5.5 Completethe text about tair tradewith the words in the box.

3 be in shoft 4 havea commonAsian 5 prceo n

access gendet 7 in the coming 8 ior ihe foreseeable t hold

averyrcductQn pavefty

prentun

a v nuarmeerng

6.3 tind a word trom the section'Managementand business'oooositethat matchesthe detinitionsbelow. Thewords appearin order. (orquantty)in 1 goodquality reatonto theprce 2 b e , _ g' a l h l - | . a { a y s 9 r . ' g , L p p o r l 3 p e o p l ew h o l s e t h e i ri m a gn a t o n o r s k i s t o m a k et h i n g s (numanresourcetkeepsomeone 5 the factof belngeithermaleor lemale 6 caoabeof contnulnofor a onoiirneatthe sarnelevel 7 a stronq,neqative reactonto somethinq thatwa9prevbusly popuar 8 qettinga productor component fromsomewhere

Fairtradersan organr?ed 5ociamovement whichpromotes I lor labolr,sociapolicy, environmentali5m andsu5tainable development. Key': ol faiftradeare: a Creating opportuntiesfof economically d sadvantaged p.oducers by payng a farfprlce.lt is a nfrtegyfor l reduclng e Deveop ng produceB'ndependence by opening to newmarkets andbuiding managemeni skils ', SaJe andhealthyworkifgconditons. . equality e Goodenvironmenral practc€sandr€sponsib e methods Butlair tradehasitscriiics.People saythattoo muchof the pricepaidby consumeB goesto the retarlelsAndove'thelongtern f" r LrddeoperaLes asa hidden7 .............. .............................. . li putsa prcefloorundera commodrty ard theeroreencoJr"ge,3 Thiscaneventually leadio lowerpicesfor 9rowe6

Seepage146for somedircurriontopics.

The businesswofld

17

Managementstyles and qualities Manag€ment styles

Personspecification

Elerv ftanageririllbe different,bui oler th€ lears mnnagenlentthcory has est.blishcdtluee broad categoriesof

[Ihen bokinS for can.lidatesfo. a particularjob, many companiesproduceboth a iob specificationand a pe$on specificahon.This helps recruitmentagenciesand/o. the human resourced.pariment to find s!italrle people.The personspecrficationivill inchde the skilis nccdcd,cxpcrieDce neededand personalqualitiesof the ideal can.lidatc.The e\ample belorLshoirs the finil section,p..sonal qu.litics.

The authoritaIian manager This personis strict,demanding,conh.nlng and probabh ioo rigid in their vic{'s. Thev i.ke a krp do$r approa.h tsut somestlff like this - thev kno$, qficrc ihcy si.nd and rrhai ihcir rcsponsibiljticsare.Thelr jobs i,r clcirh dclirlcd The consensual,nanager Tliis pcrsont,clieles in consuliation,and in coachingand menbrnlg th.ir shffto help thcn dcr.lop.Sllrordlrat€s !suallv like this tvpc of manager,lrul thc man.ge na! lnck vision and f.ril t() sln { lcadersh\r.

PERSONSPECIFICATION Ski,is ond obilities The idealcandldarewill be able to demon$nte rhe followlnt

The handroff manager This pcFon deleg.tcsc!.rl,d)lng, o, just l.ircs probl.Drs n 1i h c h o p et h . t t h c ! t o . r L i ! . T h c v$ . i l l j u s t i l l i h c i r s t \ l c . s c n + r o w . n e f t ( i c g n i n g . o n h l , l o v ( . d c c , s ( r n tso o t h c r p$Flc), bui slbordnlilcs q ill frrl r l.rckof guidincc ind {ppo.l. Li.iwr bfts'ccn .olL.g!.s (.o $rfkc,s) $ ill Lrc An inTortnnl |oiDl is thil nr,rn.rgrnrcnlsh lf Di8ht rcflrct t h e . o i l p i n v . u l i ! r f . s m u c h. r si h . f c r s o n n l i t \o' i t h e i n d i ! i d u . l S o . rh i c r h i c r l c o n r p n f y s l l h . b ! r o . u c r . t 1 . d c c i s i ( nh . r k i n gp k ) c . s sw i l l s u i t o n c r v p oo l h i n a g c . O n lh.othorh.!r!l, n dcccntialized.oDrpan\'lrhrr. kn!-lelrl mrrigo.s cin i.rkc thc jniti.riivc will s!ii .ndthL'r We .lso ha!. to Nn.nrbd that Lliflerentbusnresssru.rurs ! v i l l ' r q u j r o d i l l c r n t m a n a g o m c nqiu a l i i i L ' s : Considorthc nrlnagcr whd is nrethodical,slstem.lic.nd organizcd ls th;,t alw.vs a good ihnrg?Mavbe thcrearc sitlraliurs where it's bellL'rb be iniuiii\e and flc\iblc. or ni takc dccisionsqui.klv uithout kno$ing ill the ficrs. Consid.r the lnanag.r bho is. good tean pl.rvcr, co{pcratn'e hd supportjle.Is ihai always i good lhirrg? \rlavbc thcrer.e situaiionshhe.e it's beiier tu \'ork on J . . r r s r ' b p , - ! - l l , n o \ . r t , .i l f . , . . l i \ ,

Qualitiesor skills? Hcre is sonrethhg interestingio thinl
1E

Persono, quolitiet gusinessknowledge The idea candid.rewill; havea tood undeBrandiit of rhe market k€€p up ro date wth developmentsin the lield

The ldeal candidatewill: be able ro rranslarecompanyrrarery into indtvidual b u s n e s su n i r o b j e c t i v e s be abe to balanceconf ctiig businessinrerestswithin the

ortanizational ability The ideal candidatewill: be a Sood adhinisrntor be a good time-manater be conscentiousand lhorouSh be a Sood team-boilder Relation to subordinetes The ideal caidida@will: havean abi ry to notivrte know when to de egateand when ro refef upwards keep tood inesof communicaliof havean open doof policy havean abilityto conrol and gve feedback n an

The ideal .andidatewill: be preparedro take rkks oe nones and transParent be single-mind€dand determlned be able to recoyer quicklf aiter a setback suy carm under Pre$ure

7 MANAGEMENTsTYLEsAND OUALITIES

Exercises 7.1 Finda word in the text oppositethat matcheseach definitionbelow.Thewordsappearin order. 1 expectinq otherpeopeto obeyrulescompletely -q . loLo vo-r .rre drd pne'g/ ., 'rFed 3 involv nq theagreem€nt of monpeopenagroup; democratic 4 q vinqtra ningor ddvicefor a sperifcjobor tan 5 advisng andhelpingsomeone moregenerally overa lonqer timeperod p€opl€sothatthey 6 exchange of informaton betvve€n workwe toqether 7 wherep€opleandjobsared videdintomanylevelsof rrnport.nce 8 takingactonbeforet's needed, ratherthanwaling unti proDer.soeveop

7.3 Choosethe bestadiectiv€from thosein 7.2 (both (olumns)to describ€th€semanagers. 1 ll€'sundera lot of pressure and ooksworredal theUme. Hesreally 2 Oncesh€'srnaded plan,shedoesn'tlikechanqng it 5he! a brt 3 He rkesto gel nvovedanddothlnqs,ratherthdnjusl ta kingaboutthemor makingotherpeopiedo them Hes very 4 Herdeskis so untidy papers everywherel t\ r€ay 5 Heproduces compllcated ruesfor every,th nq. Hs approach r5very 6 5heshonestandopenanddoesn'ttry to h de any,th ng. 5hesvery 7.4 Makephrasesby matchingan item {rom each

Now do the samefor the words in 'Personspecifiration' 9 ,hoîrg d ol o' rdre a_d allFnlor 1 0 n c l u d i n ge v e r yp o s sb l e d e t a l . n d . v o i d n g m E t a k e s

t1 wantingto do somethng verymLrch sothal yolJwill not et any,lh ng stopyou t2 a probemthatdelaysor nopsprogress

on yolr own and be sef-motrvated

-\

2 know 3 work

v s i o na n d f a i l t o s h o w e a d e r s h i p

5 keep 6 give 8 vanslate

quicklyafter a setback genera (rategy into rpecifc objectves u p t o d a l ew t h d e v e o p m € n ti n s t h ef i e d fe€dbackin an approprai€way

7.5 Completethe teJ(tabout teamswith the words in 7.2 Changeea
honen iniuitve merhod cal orqanred nressed s!pportve

15 transparent

d recl flexibe / ri d

/ me y organized

brcathing catry out feedba.k guidinq Bsuing prcgrcss repan back tunntng

Theab ity to eadteamsisa keyskil in the modefn business word. Theteam e.derhasto rnovebetweena varietyof.ppro.ches:' nstructons andsuperuising closely at times,'? and encour.ginq andofferinqadvice.tothertimes. Theteamleaders of.ourserespons blefor monitoring overallI , but oncetheteamis up and a andieamrolesare , andthe objectives clearydefined,ihenhe or shemaybe ableto iakea back seatfor shortperodsof time. Teammembers liketo fee thatth€ycan theirroleswithoutihe leaoe, 6 aowntheirneckd Lthet me. However. theydo needto 7 regualy, andthe teamleaderis expected to glvethernconstructive . . on theirperformance seepage145lorsomediscussion topics.

o.n.rr,ring time and work

@

At the plaming siage of a project the amount of work required cm look frightening. To make it manageable, you need to develop d overal time 6ame (rinescale) for rhe prcject md a schedule (tinetable) to show the dates oi times when individual ihjngs should happen. Hopefuly, throuSh Sood iime mdagement, you will be ahead ofschedule.Anlyat as long as yo!'re on schedule,there'sno problem.What yo! definitelydon't want is io be behind schedule.That meffi you be mder a lot of stress,md when you're totally sh€ssedout, your work will suffea You nlight have to irolk long hours to caich up. And iI you're a mmage!, you probably won't get paid overtine it's just cxpectedof l.ou. Of course, it's not always your fault. There can be delays fo! all so s of reasons.ThinSs can take longer than plannedbecauscof circumstances beyond your control.ln ihat case... well, deadlinesmight becomeguidellnes. nrl'at can you do to improve your time muagemeniT Hclc are somehps:

fime management tips U s ea d a r y ( A m E . a l e . d a r ) t op a n y o u r l m e 5 o h w n r e pnckaqcss!.h a5 Olllook ..lud€ rh( iun.t o., but m;ny p c o p l ep r e i e a r w a l l . h a r lw r h s r i . k e r a r d . o l o l r . o d i n g r o 5how dltrerenli.r vr es [ 4 a k ca r . a 5 r i . p a n a . d r r i e r ]t r o ' r z e t l r el " s k s D o r h e A l : 5 k s t 6 r t h € m p o r r a n l!,. p ! e ! 5 d n to, r t m e c o f u n n l g o . e s T h e n y o ! l l t l r n L oL h €l e s sm p o r l a n ro . e s w i t l r a . l e a r m n d D o n l qctdsfiacledbydonglhesna,-"aiy1.!k!i6l Us. chccklisls.

K . o w a n d l s e l h e f n q s y n e mo n y o u r . o m p l r e rp r o p e r l y A lor ot rh€ workf ow in b! 5 n.$ Noives e e.tron c pnperworl! : n d y o u n e e dt o k n o w h o w t o a c c . $ d o c l m e n r sm , oditthem, sharerhem and nr.h ve th.m Deeg;re D o . l r r y t o b e a p e r f e c t i o n s t n c v . r y t l rn q r t a k e s t i m € t o { l e rr h . 9 t r b s o l u t e y r g h i , a n d I h c s m o n e y 5 h o r r . u t sc a n b e a . c e p r a be r a q ! c k . n d d r t y ' s o! t o n m n y b e O K . l i y l o bnla.ce qua tt cost and time

Bui ofcourse you know all that, and you haYc alrcadv inplemented these suggestions. You use careful time 'nanagement to plan your workload. You nclcr put off unpleasant tasks or lose concenkation. Becaup of this, your work is stihulating and rewarding. You do elcrything h'ith calm and focus. At the end ot e.ch day you go homc with a s€nse ofachielenent. You say to yourself,'The world is a better plaQ todav because of what I did in my job.'Right?

What do managers manage? 0perati()ns 5ettnq anda.h ev n9 targets mprovnq produdv ry Conrro nq,deeqatingandqivinqleedba.k Decison rnakng S a i i s tn g . u n o m e rn e e d s qLraliry N'lanaging Managing.han9e People Panningstaffnqneeds,andrecruitinq and !ee.ting newsratr DeveLoplflq theteam,5Lrppoft ng andg! d ng indivdlak Deegatinqand monitori.g

Irinance P , e p a , i nagn dn e q oar r . q b l d q e r 5 ^.lonirorin9 rhebLdger Makng investme.tde.ision5

Inforrnatiou chi r ng and/orpirticiparig n meetngs

A.cessng iniormatonon thecompanyT neMork Readinq andwritingreportsand propon s Ke€pingil esup todate 5peakinq. publ., givlngpreseniatons

Careerdevelopmeut aarryingo!t performance reviews Rewardlng aclrevement

20

DeveopingyoLrrsks and cornpeienc€s Attendlng.onf€fe.ce5 andsernnal! Reading abolt rece.t deasanddeveopmente ln yoLrrfed

A O R G A N I Z I N GT I M E A N D W O R K

Exercises 8.1 Fill in the missingletters. 1 , Theprotectis goingv€rywe . n facl,we're of schedule. Theworki w is orqanrzed efficenty, andwe hdved bigwallch with ni shown9 th€ d ffer€ntnagesof the prolectandwhat €veryone shouldbe do nq I likeour team eader she hasestablshed thegeneraqu nes{orolr work, but she eavesit up to usto pr trzeourlaskson a d.y to daybasis. Of course, therearealways chd ngesto la €, but so far we'vebeen.ble lo m t thosechalenges. lts a gre:l expeience.irnd the workst at ng andr€w nq lts givenmed rea 5 e oTarh ment.

Please 5 Ldn week I

l€n workng daysfor deivery

5x holrs overtme. They're qo ng to pay rn€tim€-and-a-half. 6 Th s red y sn t important- we'Ll loo m u c h t m e f w € d o I L e t s l u s te a v - ot -

-Ld

.o1 a,,!to.. rdFd_ /a.oLd

aroundtwo weekson our pannedschedule by do nq t 8 | got distracted th s afternoonl'l haveto t me bystayng dte.t th,"olf ce tonrghr 8 . 3 L o o k a t ' W h a t d o m a n a g e r sm a n a g e ? ' o p p o s i t e . 1 F id d word that s usedin lwo ways: a) a pan of how to spendmofey, and b)the rnoneyitlelf 2 F r n da i o r m . w o r dt h a t s l s e d n t h e f e l d o f h u m a n r e s o u r c e1s0n e a n : s p e c i t ck n o w l e d gaen d r k l l s n o t h e r words. knowledgednd sk k that are ls€d for a particular t a s kr n a p a r t c ! l a rl o b 4.4 Readthe text about del€gating, th€n antwer the

The work d n th s project s iar biggerthan anyoneexpectedThereSa ot 01 !nexpected od s o 4 r f a r ' s / e f I ne . o n n 9 r o L o n pe r e T h r n q s : r en o t g o i n gw e . n i a c i ,w e ' r e d schedLreWe miqht evenm ssthe de, E v e r y o nret o t a l ys t People ed are - c s a n d q u a l r tsys u f f e f i nlgt s l u n s o takngsh l r u n r a tn g , a n d t 3 n o t e v e no u r { a u l t i l s e n t r e y d L e to (rc! cesb d our conlro The only way we re go ng io f nishthis work wirh n the given t me lr e by f nd nq somekLndol q|] and dr s o u t o n . l k n o wt s nl i d e a ,b u t w h a e l se

ll managers haveconslraints on ther tme - so many lasksseernurgenland vrla, and yet no one person cantackLe lhemall Deegalionis lheanswer Once youve apponleclthe personresponsible lor lhe pa(icularlask yo! need to brief them rhoroughly. How muchautonomy are you goingto allowlhem?Howollen shouldlheyreportbackto yolrwth progr€ss!pdates,and in whatdetail?Andwhoese needsIo be in thetoop?Alter ali,its noljuslyou whoneedsto knowwhatshappening Convo will be a key issLreWhathappensif ihey hil an unexpected snag?YoucanI takeall theresponsbilityaway fromthem lguring out soltons to problernswi be a chaLlenge anda motvaliontorlhem.Howeveryoudo need y io makesurethattasksarecompleted slrccessfLr Finda word from the text that means: 1 limrs 2 de. with 3 qivenecessary iniorrnaton 4 (fourwatd) he patlaf a groupof peope thdthdsnformatlon

8.2 Completethe sentences with th€ v€rbsin the box. Th€yar€ all usedwith time expressions. allaw

fin.l

nake up put in speno waste

1 Howmucht medo you books aboutmdnagement? 2 knowyou'rebLrsy, bul wonderif youcould ........somet metomorrowto checkmy 3 That3 it. We haveto f nishfow. We ve I rne

5 (infarnal) Nabter-| 6 (phrasai vert beng abe to lfderstand;solvng 8.5 Readthe following sentenceand decid€it it's grammatically correct. Anceyau veappointedthe rcspansibiefar the particulartask, yau needta brief then thorcuqhly Comparewith the third sentencein the text above. seepage146for somedis(ussion topics.

Planningand setting objectives What is a plan? A n o r b r _/ ! h o n . , i . ^ n ' r y p ha l h ( l 0 ) c r - ) \ h d p " - , r . strategy(2 5 years),which in tur. shapesits plans (1 year).

BusinessPlan: Contents

, has obj.cliveswhich can be neasuied. l, answcrsqucstionsthai stakeholders(eg sharehoidcrs, banks,cmployees)will ask. I builds ir oplions. '1 idcntifics and quantifiesrisks. a shows how to minimize thoserisks (.nd pelhapsincludes a coningcrlcy plarl for Nhai happensif things Bo wrong). a alios's progrcssio be me.sured.

1 summaryand main conclusions

Othe. points to noic arcl ', That ilie.e is a cost to planninSin i..ms ofmanagemeni, time and .esearch. ,i That all plans makc assumptions,.lihough thcscare often not statedcxplicitly. ' -hdt rh,1, .r' \om' .cr) .t llpe"'rfi. "Ibuinc-" (cg projcct manag€ment is. distinct busincss Flanning function in its own right).

Elements of a plan AcompreheDsivcbusinessplan for a largecompanymight involve ihe f(nlowhg: 1, IDtcrnalanalysis:this colors thc strcngihsand tlcakncsses of thc organizatioll,historicalp$formance, tr.nds in the businessactivity and cutrcnt roso!rccs. ', Extcnralanalvsis:this covcrsmarkcts,clstomcrs, l l . , c " m p ' t i n u n .r d \ . l . d r , l i I o n . l h c g . n c r . r b l u.in.ss o Gap aDalysis:this stariswiih the kcy issucsraiscd nr the first two points above,and highlighis lhoseareaswhere thereis a gap betwcenwherc you arc now and wh€re you a Action plan: what necdsto bc donc to closethe gaps?Do producisneed to be improved?Docstcchnologyned to be upgraded?Do stafinccd to be rctrain.d? ', Resolrceassessmeni: rlhat the action pld needsin terms ofhumar resources, matcrialresourccs(eg plani, space nlsidebuild nrgs,equipment),lT rcsourcesand financial //r TarSeisrspecificta.getsfor financialrciunN, costs,market share,sales,grorrih, cusiomersatisfaciion,quality,etc. u, Financialissuesrcashflow forecasls,projeciedprofiiand loss (P&L). Look at ihe Contentspage of thc businessplan on the nght. It is the knld of plan thai a sma or nedium'sized business mightproduce io define its shategvSoingfoMard. The plan might alsobe neededto show to a bark if new tunding is

2lntroduction 2.1 Current situation 2.2 Need forchange 3 Internalanalysis 3.1 Interna strengths 3.2 Interna weaknesses 4 Market analysis 4.1 External oppoatunit es 4.2 External threats 5 Marketingplan 5.1 Newproduct ideas 5.2 Prcingissues 5.3 Sales targets andmarket share targets 5.4 Geographical d versification 5.5 lmprovements to distrblt of channel q 6

A.lwarti
6 Operationalplan 6.1 N-"wplantandequpment process 6.2 Effciency of production 6.3 ProduCrivity lssues 6 4

l.lo:< f^r <:vi^^

.^d<

proposals 6.5 Outsourcing 6.6 Quality issues 7 Financials 7.1 Cashflowforecast 7.2 Profitandlossforecast 8 Resource requirements 8.1 Humanresources 8.2 Capital investment 8.3 tT 9 Appendices

22

nn<

9 PLANNINGAND SETTINGOB.|ECTIVES

Exercises 9.1 Finda word in the text oppositethat matcheseach definitionbelow Thewords aooearin order. oi a 1 a thoseDeoD e who havean interestn the success pan, systern or organizatio 2 (tuvawords)a cautseoI actionth.t youwill takeif in thefuture .. som€thing badhappens 3 b e l € f st h d t a r eu s e da st h e b a s s{ o r 3 n d e a .b u t w h i c h may not be correct . 4 qrad!al changesor deveopments,tendences

5 (farmal)laws 6 makespeoplenotcesomething andthinkaboutit taket 7 a factoryor burdingwherean industriaprocess pl.,e.. d dl rts'e.w n..h *.y 8 lh: g\ lrdl yourryto acqeve contexito 9 (n^7o words)phrase oitenusedn a business mean'n thetuture' Now do the samefor the 'conten$' pageopposite. 10 predrction 9.2 one verb from eachgroup doer not 90 with the noun at the €nd. crossit out. checkany unknownwords in a dictionary 1 cut, esttnate,tmplenent,rccovet aosls get holdof wthhold lnfo.maton 2 access, achieve, 3 cansi.let,keepopen,meet,5u99e5t opt ons 4 be basedan,
|!l

9.4 Rewriteth€ senten(esusinga verb + an adjective from exercise9.3.Keepthe samemeaning. 1 Wewill go abov€the tarqetwe hadar the beginnng. target our . ........1!l!al Wewili 2 We wil go beow ouryeanytargel targel .. we w -......... J w e d F ( r d F do , l c n ( f e p l . r f o r r l _ Fr e . . . h r e e) € r ' s the ... W€ decded to

plan 4 Wew ll hdv€to stopour pl.nsfor thefuture(dthoughwe mlghtcontnuewith them ate, Wewill hdveto p|ans 5 Th€issuethattheyw.ntedueto consder s very Therssue thatthey

s very

9.5 Matcha group of verbs l-3 and a group of adie(tivesa-
issue

"Drnr,I

inkIak Pldn B.'

Leading and motivating What is leader5hipin business? Clearly, an entrepreneur shows leadership. They siart iheir own business,and then build it up from scratch.But the head of a ieam, deparimentor lalgc organizationcm also show leadelstup.what do thesepeoplehave in comlon? A good $ay io ansa'e! this is to look at the difference betweenleadershipand maagcmcni. To simplify greatly: irr Leaderslook at the big picture,wclcomechange,ale good at motivating and influencjng,and ivork well alone(or at the head oi teams). 1 Managerslook at the deiails,welcomestability,.re good at supervising,and wolk well as team members. In addition, managelstcnd io gct their authority from their role (a bosswith subordin.tes),a'hilc leadersget their a(ihority from their personaliryPcoplejust tunr io l..ders fo. guidance,regardlessofthei! position.Thev hale. quality

Eight characteristics ol a good leader I Vision: this meansgcnc.atingideasabori the wny ahead, and then Scitirg buy- (= commitmentto a shared8oa1) from other people. ll Moiivation: as {'cll as oblious thin8s Iike salary this n r l u J c - p r J F p .J p p r . c r . r u . ni - d ( c o $ , n i t i o ' .

Emotionalintelligence:this us€d to be calledempathy or intuition. It meds 'reading people' knowing what they Empoweringothers:tell pcople rvhat you expecthom them, gile them the tools ihey need to succeed,and then get out of their way. Leam to listen,nothing is more empoweringthm b€ing head. Being trustworthy:your behaviourshould be consistent rlith yourbeliefs,othetrise people won't trust you. Actionsspeaklouder thm aords. Taking risks and managingchange:leadersneed io be changeagenis- in a fasFmovingworld, any organizahon that siandsstill will fail. Butchangebrings rcsistance. Leadershave io explain why changeis necessa!, establisha process,involve everyone,providc support, communicatethe outcones and sharethe bencfits. Focrs and follow-through:this involvesseiting priorities and doinll whal you say you will do. Unfortunately,many lea.tersare poor finishcrs. A s e n s eo f h u m o u r :t h c a b i l i t yt o l a u g h . t y o u r s c l fi s . good ilay to b.ing othcrsalong wiih yo!.Ii dcnonshates a degreeof self-knolvlcclge.

Motivation A survey by Kabsn Consultlngaakedpeople In a wlde |angeol Industry sectoG whet medelhem teel good al work. Here are the resulis:

The Esearchersdrewthe followingconclusionsabout Noticelhe dominanceotthe lop thr€ecalegorles: motivation: achievemeni A senseof achevement, and havingthat working Positive recognizedappeff to be strongmolivatorc. Ina task-oriented busnessword, it3 mportantto lhai financial psandthe 'er.otiona' dimensnf relatonships areaso importantNolicealso remernber that relaiionsh rewardwasonlyrankedsixth Thisls quitesurprising. to workarevery mportant. Theresearchers thenaskedpeoplewhatmadethemleel Recognition andpositvefeedback arethe oxygenof bad at work Here the mostcommonresponseby tar was 'a negatveexperience wlh colleagues.A rangeof olher success and Employees .sk, 'Whalsin it for me?'Blsinest company factorswerea so menlioned:ack ot recognilion, facloK. s.tisfaction did not appearasrnotvational customer po lics stress,boringwork,elc temslhatwerementoned Motivation anddemotivation arenot equalandexact essoftenincluded:ack of support,havlnga bad boss,lack whle wasthe opposites. Forexample, aclrievement of d recton and unsatisfactory evelsol pay.Thesed d noi was rarely mentioned asa motvator,fdLlure stronqest seemto be lmportantdemotivalors. 24

1O IEADING AND MOTIVATING

Exercises I0.1 Finda word in the first two sectionsol the text oppositethat matcheseachdetinition below.Thewords appearin order /wa aonls\[ ar t'e begrn-rng 7 rhrcewards(he^holertJaton._olt-srorF padoI i 3 theway n wh ch someones nvolved in an aclivity;positon undeGtanding howotherpeop€feel 5 knowedgethat |5b.sedon feelings ratherthanfa.ts

6 o vrnasomeone morccontrclov€rth€irlifeandwork

8 results '10.2 Thetext mentions'praise,appreciationand r€cognition'asbeinga part of motivation.which one of theseis the strongestmotivator? 10.3 Learn€rsof Englishoften usethe word 'sympathetic'whentalking about someonesuchas a good l€ader Put a tick (/) by the detinitionwhich matcheshow a native.tpeak€rusesthis word. 1 friendy, n ce probemsandhelpthem 2 wi n9 to understand someone3 1O.4 Makephrasesfrom the'Motivation'sedion ol the text by matchingan item lrom eachcolumn. (morivalor) I posiiv€=\ achievement 'eeobaclf'on yourbo., 'n ol vdlorr \ 2 neqatve 3 senreol recogn tion(demotiv.tor) (demotivator) 4 lackof experienc€s wth colleaques 5 company orient€dbu, n€ssword 6 physca 7 task' 8 f nancia 10.5 Completeeachsentencewith the corect form of the word in italics.Som€timesyou will needto usea negativetorm (de-,ur-). a tb the. .. . .................... company ln ihef eld b t3 the market c SheshowedexceLlent ability a Sense of achevements probably the numberone t offeredno few challeng€s. I was

c h a n g en a fan-moving world snl b Thissituationis out ol control It5 compietely

sansly a A lob welldoneg vesmea qreatfeelingof b Myworkng condtionsareteribe. Theyrelun totaly

a Shesgoodat separatjng d compexprobleminlo its parts shesvery b On llrewrole. "greewill yoL 10.5 Readthe text about influencing,then answerthe

people.lts a hiddelsk.ll I eadersdregoooarrr' renc,r9 L - vF y mpofl"rl orl ole1 rgro'ed lrlJercTg m€y rakelhe iorm ol persuadingpeopl€to adopl theirideas inspirng peope to achievece ain goals, or crcating Inlluencing requires a mixol interpersonal, communicalion presenlalion sk ls Andmoslimportanlly andass€rtveness you need to be abe to adaptand modilyyour personal stylewhenyou see the eii€ct its havingon others You can'tlorceyour deason otherpeope - theyhaveio teel andappreciated. acknowledged undefslood There's Theydont a kindol buzzarcunda good nfluencer. moan,blameand complan. Theysee whal needsdoing and andthensladtalkingto othersto lry 1ogel agreement aclionFinda word trom the text that meansi I reach,succeed in gettLng 2 abrly ro e
4 (infonal) Ieelingol p easureor excitement \ , n f o . m a l l c o m p L a1r _a n a _ 1 o yn q w a y Se€ page 147 for some discussiontopics.

lnsuranceand risk management Everybusnlessfacesrisks,and mmy of theseare insurabte. lnsurancemav be obligator)ro. optional,bur it is cerrainly a part ofprudenirisk management.Thereare il{o basic types of businessisuance: liability i$umce dd propertv

Liability insurance Liability insurancecovcrsdamagecausedio otherpeople. An employeetuight suffer a work rclatcd accidenr,o! a visiior might slip on a polishedfloor and brcak m arm. In either case,they can sue yo! and {'ill trv to p!o!e negligcnce(= failure to take eno!8h care).Thclc is also product liabiliiy insuranc€(in casesomeonesucsyou aficr usn18a product),and professionalindenlnity insuanc. (AmE malpracticeinsu.ance)in casea clientsuesvou for making a costly mistakcwhile advisint rhem.

Property insuran
Strategic risks

Policies wlen you takeouta insurancepolicy (ie contract),you make a regllar paymenicalled a'premiuh'to an insurer. The policy stateshow much will be paid and under which ctcumstances.Readit carefullt checkthe small print, and h particular checkany exclusionclarses.After a year,before the conhacicxpires,you willbe scnt a renewalnorice. tnsuranceis availablethrough scveralchannels:agenrs(who work direcilv for one insurancecompany),independent brokers(who scarchfor the bestpolicv amongstm.nv alternati!es)and dile.t selling (oftcn over the Internet). Atcnts and brokcrswork on conimission.

claims If vou need to make a claim, yor fill out a form and waii for it to bc pro.essed.If thc insurance.ompany suspectsthat you're underinsured,o! cl.iming too much money,they can i p p o i n t J 1 o . .i d i u { t c r / A m l . l i , m , . . L l J U s t lpnr p, \ I n i n p thc situaiion.Ercniually, they pa), out and yot receiveyour If an insurer feelsihat thcy have takonon too much risk, thcn they can to io a reins!rancccompany b providc covcf fof

Integraton probemsarisingfrom a mergeror acquisiton. Changesin the marketsuchasa new competitoror changesin demand, New technologres that threatenyour business mode. Poltical/ Economicinnabilrtyin an export market.

Operational risks

Brcakdow,nof key equipment. Supplychainproblems:latedeliver!qualityissues, erc. lT failurc:lossof data,damagedue to virusesor hackers. Pooraccounting that failsto showthe realfnancjalsituation. Employeeissues: recruitrnentdiffcuhies,lack ofpeope with the right skillset, etc.

Financialrisks

Cashflow (ie iquidity)prcblems. Bad debt Increased bankchargeson a loan (more expensive credit). Changesin torcign exchangerates. Embezlement(= when someonestealsmoneyfrom ther own cornpany).

Failure of compliance (with new laws) 26

New employmentlegislationNew heahh and safetylegislation.

I1 INSURANCEAND RISKMANA6EMENT

Exercises 11.1 Finda word in the text opposit€that matcheseach detinitionbelow.Thewords app€arin order. 1 s€nsib€ andcare{ul 2 "gdl 'e"oo's,b 7 fo 'on "t ,ng 3 st.rt a legalprocess to get moneyfrornsomeone 4 torrnalprot€cton dgann lossor damage

6 (twowordslmakesa decislon to g ve someone cornpensaton 7 (twa words)se.lansat a contractthatsaywhat snt covered by the contract 8 fiwo words)writtenrernind€r that a contractis qoi.g to endsoonandyournustpayif youwantit to co.linue 9 (phtasal veb) gre noneydsthe resut oi an i.surance clam 10 moneythatsomeone recevesbecause oi damagethey Now do the samefor words in '8ut you cant insure a9ainst'opposite. 11 (rwowordr)moneythatw ll nevefbe colectedirom t2

(tatndlt ,tF ptatvF af obA),-g a taw

11.2 Make phrasesby matchingan item from each column. for ihe dLfiefence I be €oallv-\ 2 trv to prole damages \ \3 a*a,d obtiged lo do soTetiirg 4 be Liable 5 take out 6 take on

thesmallprint 8 check

11.3 Crossout the item which hasa differentmeanin9 1 2 3 4 5

ta dispute,file,put in, subnit a da n Ia neet,pay,reject,settle a.ain considerable, high,potential,seiout significant tisk Ia avaid,face,run, take a I tk io asses'measuremnimize,weighup he $ks

11.4 Underlin€the correctwords in italics. 1 Howmuchisth€insurdnce to /o, yourcar? 2 Doyouhaveinsurdnce forl to dnyoneto drvethe car? 3 Youhdveto takeout / rakeup buidingandcontents insurance dsa conditorol the mo(gage 4 Thispolicyprovid€s insu'arceagan* / in favoutaf lotsal danrdqe byl up to €5,000. 5 We'vensureda our lT equpmentfor / wrthovera m lion 6 Canyoucaimth€d.m.geb// o, yourinsurance? 7 Ihey did / nade . cair' for / of danages 8 lhere s d riskto / of consLrme6 b/ / fromtheseproducts We w I haveto wthdrawthernfrornthe nrarket. 9 Weareat / w,thr sk to be / af beng sued. l0 Youshouldqo 1ocourt/ thejudge yarha\e a ight / 11.5 Completethis text about risk managementwith the words in the box.Checkany unknownwords in a dictionary plan damagelimltation escalation prc.edurc contingency exposu.eta lsk .enedialaction r6k.ssessmenfs Somecompanies havea risk-taking cLrlt!rc, whileothers want essI . . . . , B u tn a n y case,the seniormanagers oi arcecompanies arelikely to prepare regular'z rypicallool hereis a riskmap.Thishasprcbability on the horzontalaxisand mpacton the vertcaaxis,Keyrisksare -'e p bralstorn€d o-d lhenp ortedon tle rap ort19 process helpsto clarfythe risks,andthenleadson to a discuss on abolt riskmanagement, of el minated, Someri5ksc.n b€ reduced otheKwi haveto beaccepted. Forthosen the lattercategory, the company j (= backneedsto havea up p an)forwhenlhinqsgo wronq.Ths coLr d involve some initialmeasureg andihenan a5thesituation deterorates, mores€nor LWneTe manage6 f t turnsinto. crsis. takeresponsibility) Andcrisesdo happen- managers h.veto respond to fastmovingeventsand lake 5 (intendedto improvethe situaton)on ihe spot. In a wo6t case$enario, thewhole thing just be.omesa

S e ep a g e 1 4 7f o r s o m ed i s c u s s i o tno p i c s .

Manufacturingand engineering Manufacturing Manufacturingis the transformatjonof raN materialsinto fnlishcd products.It happ.ns h fachnies,plants (= large .!ri\J 'ndnil./u.-d'or'f..i. .. ,-1p..e..- .'nJ The aud 'manufacturing'is oftcn associitedrLith indrsiries iike aukrs,ch.mi.als, non and sl..l. Thesen ustries,base.t on nnss produ.tion, \rere.nrccnajor emplolers n areaslike Anrcrica's'RustBelt' (lllnrois,ltu1i.rr., \Ii.higin, Ohid and England's'WestMi.llands' rcgiors.sso.irte.i lrith renliil! . vrilalrlc .oal, labou an.l nrland \1.{en!.rvs (=..nalt.ln the perlod.ficf lhc S€condWb,ld \\hf thcscn rstriLs prori.l.d jobs ror lirtc numbersofbluc.oll.r ('orkers, sorknrg in jobs nnd trct.ctcd trt lnions. During sennc, u,cll"pa1(1 t h € l 9 7 0 s f f d 6 { h t h e s en l d r s i i r s t r c c a r nucn p r o i i . b l . i n A'tr.ic. fnd Europe.P(lluciior nrcthodsNerL.in.r€.singlv ouklatcd, and this tr_peof hciv! n ustr! srLit.hedto othcr .ountrics, pa icul.r y l.if.rn. l f l . ' p a ni f c $ a p p R D . ht { ,n r . n u f n . t u r i n E . n t r g . d I t h a d rn.ry l.,bcls,brl T(rlotn l)r({lncnon Svn.nr rL.s thc nron c o n r n o n .K c v c l c n r . f t so f t h i s . t f r c . c h $ c r c c l i m n r . t i o no f !!.st(, (.jrci.g in\lnory k\ fls, .rnd incrcasnrtcfli.i.nL! l h k { g h t h c s i n r p l i f i c i i i ( ni nr d s t . ) n d i , d i z i i n nor f p r ) . . s s c s inLl p(,.odu(s. \4nny of thc c.r' .on.epts nill m use

comme(a aid res,deird bli d.!s bf dg€s.rc.ds {AmE h,Bhwayt.dins

Tljs n.r.approach led to a.enaissancein manufactlring alt o\er the rrorld, and eloh.ed int.r modern-dayphiiosophies suchas Lcan ivlmfacturing and just-In-Tine (lIT) These areasar. exploredin xnit 16. No$a.lals ihe term 'nin!faciuring has. mlch wi.ier s.ope Ii nrchldesiercsp.cc, autonotne, biotech,chemicals, ck)ihing and fooiiveaaelectronics,food and belerages, pater and printing, pharnaceuticais,plasticsand polymers, shipbuilding.steelin.1 textiles.

E n gi n e e r i n g If. conlprni m.rkcsnrass-p()ducedprcducc, il s g.n.fally refered (r as a'man(f..t!ring (ompany'. lf ir's rcsponsiblc kr.oniflc\ projecis$ ith a high dctrcc ofcunomization, ii's \ , n , , . 1 1 ,r , 1 1 1 rI r . i . . - . ' ,1, r r . n , , , ' n Fi . I n t L . ) . f r , , , I n i . A . i] n r l * , . n . , 1 .r ,. . , . \ . \ . \ . 1 , . , .. , ' ! . b u l l d l n g . r n dt c s t i n gt h i n g s E . n i t i n c c rasr c i a s . i n i t . d l r y h o s , ind h'h! thnrgs{!.k. r \ s i n \ t i f l f d b . . i k d o w n o f t h en r r f ! b n . h $ o f . n 6 i n f . r i r A

aLtomobies anc.aft.heai ng aid .oo n! sl3lems r.dun.alequpmem r.d ma.n n.r r

power p.odud on a.d d st.blr o.

n-€kneindlstriaprccesesmoreeft. e.t pbdlcts e6lefto manufacrlre andmore qla ity in(easlngproductvily

28

i o d a ! a r e l a p i n e s e s o . d s s u . h a s ' k a i z e n( c' o n t i n u o u s impro\ement) and 'kanban' (.heckinginventotr levelswith sinplc \ js!al signals).

plast.spants pharmi.eltcr s agncutural chehcals.loodproce$ne

landmanagemeni water.rndsewige sydemspo !t o., wnne dsPosa

databdesa.d opeatng ststems,.omp!ler g.aphrcs, embedded.omp!re6 n everyoay prccu.tsmo. bris and contro l.g ndlnria

12 MANUFACTURING AND ENGINEERING

Exercises '12.1 Finda word in the t€xt oppositethat matcheseach definitionbelow Thewords appearin ord€r. 1 (tuvowardl na].uasubnances, belorebeingmadeinto somernrn9.. 2 rcdsubstance thdtformson metawhen t getsold or wet 3 wolkng cass. ..... 4 organizdtions that repres€nt thework€rsin a padicular industry 5 r o rr o d e ' F r o J g r o b P L . e f . l paceistock 6 a the t€msn onepartic!ar

12.4 Matchthre€verbs(onelrom eachcolumn)with a similarmeaning.Theyare alltypical activiti€sof an en9rneer.

establsh exdmin€sup€tuse

-qo

carryout oue, puttogether getrd of of bein charqe

manag-o

weqn !p

7 . I the thingsthata paaricular sublectdealswith; range

worKng oroer

8 nformation that hasb€ens€parated intod fferentgroups

In genefal, are the v€rbs in th€ third column more {ormal

Now do lhe samefor the words in 'Typesof engineering' opposite. 9 wa ls blilt across a rverto createa lake (NOT'equipmenl') 10 m.chnesor toosthatdo a specaljob 11 the pfocessof getling r d of somethng 12 fixedf rm y and deeplyin lometh ng e se

12.2 Make phrasesby matchingan item trom ea.h

2 wel pad 3 heavy 5 6 7 8

contin!o!s wide residental consistent

job (proiecied by unont (egsteel) industry (of a philosophy) concepts produclon(methodsn indultry) quaity (of industalproductt (='kaizen') mprovemenl scope(of a subjector actvity) (inc vilenqineering) buldings

12.3 t,nderlinethe corre
12.5 Complet€ the text with the words in the box. e@nomiesaf scale nould rellability tisk tun upgtade up and tunnlng wo*tarce

A lorgeis a placewheremetalis heatedandthenpoured - rt3thefrrn stepIn the slppy chan for manycarparts.Andthe bqgestforgeln the world is BharatForge.in Pune,nda Thecompany wasfolndedin 1961,and n the early ga neda repltationfor quaity and decades Then,n 1988,it spenta huge -. , - ..threcr German-enqneeredpant. Along wlth th s investmeniin ^. {. m .afpowe. Tradltionally, Bhaf.tForgeh.d employed . pooryeducated t . ort ôd 'r s-anForepd(,tg t-e.r wth white-colarcollegegradlates.

Whenthe outsourdng waveh i the .uto partsndustryin rhe 1990s,Bh..aB".w pla_r\âs6 andrcadyto compete. in Morcrccently, it hasbequna straiegy of acquisitions production nd a, EurcpeandChina.t\,{ost of its s stil ln 7 its but with ................ . .. . . andlow abourcosts, reduces the additionofsmallplants nearerto the custorner 3 supply chain -.. -,..... see page147for somediscussion topics.

Productionand operations 29

@,*o"afactory Study ihe diagrm of m automobile plmt nd the notes that explain what is happening in the ditrerent deas- It is based loosely on the Volvo Trucls plmt in Gothenbug Sweden, md some of rhe vo€abdary below is speciJicto the automobile industry. (Check in a dictionary if necessary) The assembly line staits on rhe left fld moves io the right, md veious assembly statlons along the line are shoM by small sqrares a. this ir wheE the Gbs (= the front pan of the ttuck whee the drirer 5tu) are deliv€r€d, they arive on a daily(hedulejon likeallthe other comro.e.b Hee itemseuchaelhe @b arelNered down usinqderhe.d.ran6. and the ntte6 hake surerhar they dock (= join tosdher) coredry. rhe/re securedin olacewith bolls 6nd nute.smallercon@nents .r€ .tta.h€d with s.res. ThefitteR h.w . rangeor 5panne6(AmEwenchet to help

i. Goo& reception:ircm heE [email protected] good! are dinributed throuqhout the factory.Traroponto the statiohsrak* placeeither by forklift truc& or on conpute.cont.olledautonated@rie6that followmaondi. raik hiddeninthefler 2, Storaqearea:parls .nd componentethat dont 9o diE
i0. fin.r.a,6lled Theo.sn, Ga rel.xation.Ea for workeE. planttandevenlre.s, It hsegreen

l.crori.'.a 3oppl.n.nr.d with vadou
e.glnc fiansmi$ion ..d axl6 arealljoinedto the 3. This is the rtlrt of the backbone of the truck (= the cha$is)are poduced

4. Theengine are joined to the ftansmlsaonlyrtems at delivered- tully tened -

This particular factory is a very modem fac ity md rhe finished hucks ar€ tailored to specific customei orders. lf there arc no problens the plani can achie\€ very high levels of ituoughput perhaps 200 bucks .oling off the line every However sometimes the lire h6 io stop md the machinery is idle. Of couse the mchinery i.sdesigned for healT use,

30

(eqplpes,valvet 7. othe. components wning,t nkr tyret are.t€ch€d at difie.€nr ttations down the llne by teams of skill.d tittes. At the end ol ewry stationthere6.n intomationbo.rd rellingthe fineu howrh€y'rcdoinq tidewi4, and h@many unibstili r€mainto be built duringthe.udent

bur lherc h tll dlwdy5be some sea! and leal A simp e rnechanical fault may be easy io fix, bui if a key piece of equipment is out of order then ifs a very senous problem. Delays are very expensive, particularly when there is a tuI] order book and the plant is working at maximum capaciry The system rclies on regda. mainienance so that downtime

13 INSIDEA FACTORY

Exercises 13.1 Finda word in the text oppositethat matcheseach definitionbelow.The wordsappearin order process 1 largefactorywherean industrial happens 2 peoplewho put togeth€rof fepairmachine!or equipment 10

(tnforma,a sufiix(= lettersat the endof a word)used with manynounsandadjectives of or to meanSpeaking 'referring to' perod of worktime n a placewheresomepeople workduringthe dayandsomeworkat n ght 5 d fferencesbetweenth ngs that shouldbe the same

6 a buidingusedfor a partcuiarpurpose 7 madespeciay for someone's partcularneed 8 the amoLrnt of workihat s donein a pa icularperiodof tme 9 /phrasal.e/b aovrng sr-.adilyorr 1 0 not beingused(machines or factoriet (threewords)damagewh ch happens whensomething is lsed a ot 12 the periodof timewhena machine isnt working 13.2 Studythe languagebox below' lt showslanguage tor describingobjectrin a fa
Howbig s the steelbaf? rl 2w 8: It's100centimetres by 15centirnetres by 1ocentmetres:h l'm sorrythe noisein the factoryis veryoudl Didyousay thdtthea s 100centirnetres? I Yes,andthe 5w is 15 andthe6h is 10. OK,thatmeansthatthe arcaof the 7cr 150% e cenlimetres. B :That'sight. 8 : tt'qw

s 82 kq,'or

ed up to the nearenkiograrn.

13.3 Studythe languagebox below.lt showslanguage for des
A balt haswo*ed bose. A bladehassnappedoff. Ihe sctewshavecane loose. Theleverhasjanmed.

ltslength/ width / height/ depth/ thicknessis 30 cm Its 30 cn long/ wide / high / deep/ thick Its 2 m longby 1.5m wideby 1.2m high. Thepipeb 75 cm )n diametel Theareaaf the cross-se
Thepaftshare run aut. Weneedta dismantlethe unit. Canwe lengthen/ shorten/ widen/ tighten/ laosenit? Gn we speedit up? Canwe slowit dawn? |t'swotkingOK,but now we needta resetthe machines. Now matchtheseverbswith the delinitionsbelow:bu6t, be iamned, run out seizeup, tnap off, wotk loose. 1 not haveany more eft 2 breakofi with a short loud nos€

y 3 breakopensudden 4 becomenot firmlyfxed

5 no longerworkb€cause somethnq i5noppingthe parts 6 suddenly stopworking see page147for tome discussion topics.

Productionand opefations 3l

Procurement and purchasing Procurement or purchasing?

Global sourcing

T h e h o r d ' p r o . u r e m e n ' n e a n . f i n d , n 6d - d p - r c h r . . 1 B suppliesor equipment,espe.ialtythings th6tare difficulfto get'. The woid 'purchasing iside that definition is a formal woid foi'buying'. The job iitle 'purchasingmanager'is still used,altholgh thesedays this personmight be calleda 'supply chain man.ger'and have broaderresponsibiliticsfo! soucing, logistics, etc.

The related tem 'sourcing' neans 'finding and e\-atuatint supplierJ.'Outsourcing'is subcontra.tjng$'ork to cxtcmaL companies.Iftheseexiemai companiesare in &other comio, then itt 'global sou.dng' (or 'ofishoring').

Procurement Procurcmcntis a crucial function in business- it's p.obably the a.eawlt.€ costsavingscan be made most easily. i Fnldhg suppliers:you may make direct contaci{ith potentialsupplicrs,o! you may lse public adlertising in the fom of a Rcquestfor lnfomation (RFl),a Reqlest for Qroiation (RIrQ),or a Reqrestfor ProposalGr-P). I Baclground rcscarch:oncea number ofpossible slppliers have beenfound, you need tu discoler more information abort thcir product quality and also thcir track recard fd insiallation,mainten.nceand warranties.You may examnlcproduct samplesand perhapscarrv out some Negotiation:you ncgotiateprice,availability, customizatim possibilitics,delivery schedules,etc. A contr.ct is dr.wn up. !ulfilmcni: ihc supplier prepares,shipsand dclivrrs ihe prcduci. Any nlstallaiionand training is carned out. We often think of procurem€ninr a manufaciuringconiext, invohing all ih. items that go to make up the finished p.oduci (ie raw materjals,compon€nisand parts).But ii happensi'r every business,and includesihe purchaseot n wide l'ariety of goodsand serlices- f.on low value items like officesupplicsto compler and costlyiietus like Proclrement is the areaof businessmost open b co.ruption: .ilher a backhanderfrom a supplier to a manage.as a thank you for being chosen,or.ollusion betweenthe two to falsify pri.es, qualjty levels,et.. The EU has a very st icisystem of .ompetitive tendering(= biddjng) io avoid theseproblems, aDd many companiesalso operatea three L'ay checkof papemork. This involvesall invoicesand deh'eries being verified by a purchasingmanageathe accomts payable depa ment md the plant manager

32

Clobai so{rcinlj is conboveGialbecauseofiis impact onjobs - a lalge numberorproduction and back-ofiiccjobsare lost onshore.However,if the companybcconesnorc succcssful asa lesultof its lower costs,ihen ne{ jobs (egn salcs, markethg, .onsulting,projectmanagcment)can bc crcated onshole.And certainjobs arenearlv.lways belterdonc bv onsholestaff thoserequiringcreativityand flcxiblc thinknlt. Offshorccomte.parts tend to rigorousLyfollow instructions. TM reccnttrcnds in global sorrcing havc beenl The mov.m.nt offshoreof lT{triven setuicesec(rs like banking, tcl.communicationsand nedja (ie notjust Ne.l.shoringraiher than offsho.ing,for lcasonsofpolitical prcssurc,high fuel costs,logisiicsand mnnagcment

Globalsourcing Benefits Bigreduction in labour costs Superior seMcelevets (eg24-hour support)

Drawba(ks CompLexity of communications between peopleof different cutturesdispersed around the wortd

Abilityto undertake smaLter (prevjousLy pjeces unprofitabte) of

fxtra transportitioncosts (ojl pricesaffectshipping

Improvedaccess to skitts

:osis) Extracosts(eg travet and livingexpenses) for offshoreworkersvisiting

Synergy fromworking with a partner (eg a transformation of Issuesof securiwof data processes business arjsing andprivacywhenother fromnewideasandnew get jnvotved companies waysof wo*ing)

,I4 PROCUREMENT AND PURCHASING

Exercises '14.1 Find a word in the text opposite that matches ea
2 tuvoward) ar oraanization3 successes andfailures over time 3 extendedperods of iesting 4 suppyingthe thingsthai hav€beenord€r€d

'14.4Complet€the words by addinga pr€positionat the besinning(asa prefix). In a business context. we canusethe wordI snoTe io mean'in/from anothercountry', th€ word'? shoreto mean 'in /frcm vourown country',andthe wordI shoreto rcferto a countrythat s geograoh calv clos€to yourown,or to a regonor yourown country

moneythat you pay legally.nd secretyto get something o o n e ;D ro e secr-at actvitiesof peope who work iog€therto do som€thng d shonen (forma, procelsof nvting suppliersto bid ior a contract

8 documents for goodsor workdone 9 ihe nternaloperalion!of an ofganizatlonlhai are not accessib€or vsib e to the gen€ralpub ic

Now do the samefor the words in 'Globalsourcinq' 10 startto do a pieceof work 11 extraeffectswhenpeopleor businesses cornbine andwork IOgetner 12 disadvantages 14.2 Completethe sentences with the mostappropriate word from the box. I

estinate prcposal quatationlquote tendel

1 lf youtellsomeone how mucha Jobwil!con, andyorl rnityoursefto thatamount,thenyougivethema / an f yoLJ telisomeone how mucha job wil cost,but you reserve the rightto changelhe arnount(egif circumstances thenyou changeor the worktakeslongerthanexpected), givethema /an prolect, lf youproduce a forma p an for a morecomplex te ingthe clstomerhowyouwill carryit out andhow much it w lcost,thenyoumakea /an lf youdo thesameas n #3, but in response to a pLrbllcnvtatjonto bidfor thejob,andin compeiiton wth othersinrar companles, thenyouput ln a / an 14.3 Complete the simplified explanation below with these words: sourci'fg, procurcment, pwchasing.

14.5 Studythe words in listsA-E. Checkany unknown words in a didionary Thenanswerthe questionsbelow. A ro

give(somebody), askior,get,pr€par€, provide(somebody with).submit,accept

drawup,male,accept,consder, -R r^ -pul forward,oudrne,retect, subrnt c to

nvrte,bidfor,put sornething olt to, announce, suom[,pu! In,awarc,wn

D a /.n

key,externa,arge.foregn, eading, pr ncpa, major.outside, over9eas, offshore

protracted, unguccessfLil. E a / an lengthy, lruites9,prolonqed, ve unprodLrct

(a)tender

suppler

negotaton

1 Divde the wordsin listA, basedon wh€th€rthe suppleror 1" qroup: Dividethe wods in listB,basedon whetherthe suppleror

Dividethe words in In C, basedon whetherthe supper or 1''groupl 2'" gro!p: D vide the words in kt D, basedon the meanng. li group: 5 Dividethe wordsin ist E, basedon the meanng. 2'" group:

see pag€ 147tor somediicussiontopi.s. Productionand operations 33

Supply
Supply chain management lluring ih. ilholc pir,..ss, fronr beginnifg t() cnd. inrcnr(B i r ' | . r l s . r n d t o o ( 1 5 )f c . d s l o b ! s n n c ( l r n $ ! r . h o u s L ' s tfd dislrib!ti(nrc$t.cs.r thon hnnsfoitcd ns rL.L\1.d All ol ih s involres.r h!.:c iD(trnl ot comfulcnz.d i f n ) r n . l j o n . r h \ r l t h c l o c n t i ( n ro f i n r u l o r \ t j t s . \ f . . r . d .rri\n lior'.rl lh. n.\t foirl, el(. Ihrsifi(nnritnnrhisl()tr. s r . ' , . r 1, r . h s s n r . r n ! d i t t . f . f l . ( n r f . n i . \ n n d I I n c h l o , l s : s!tt (rs,.ust(rn.rs, lhi p.|1\ l(i8isti(\fro\ki(rsnnd the .r\irrt,r'lLLrr' llsclt. Ihc .Dnngenreft ol thi\ nloDDlr r\ .rlli(iil lo lh. s!...ss (ii (he h!siness

I n( rotnl)tf Yu) ol log?\l)(.r l 1 i r t r ( n \s( b , n hn r b u r n t ri n l d (n,r|lr'rrlg,rnl\. I r i , , c 1 n , l t \R l r N c l ( ) s ( r i ( s ( n ,

E>

\ r h c ng o o ( l \ . r l u r D c { l ! ) r h . mrnull.Lu.r ( ithd lreuu*, (n .Ntonlel l cluD{. o. ofe|\kl'li.rl inlrnkr\ rr ih..craileB. or ourl^rcd mo.lur(lin: rhar .rtr ,r) 1(rrg.r \.lll.

{u

-

rt'l'l\ .ll]tll

i, lt iD\olves ,doidiit{ irenr\ fiun onc Dexns ol taDspoi andlo!.ln,gonioarod,er'lhn.aD bed.disLribuLion ..r!e of a \{f.ho!\e. Tl,e.c rf. rlrrc. posibir'!es: Hub and spoke

corsolidation

tr'lat-pr.tt aG b r c l q n t] n t a . . e .e.talla.atian antl then 'ofted 1.t .leli@tyta. raiet|) at detnnatbns

A nxetf oi {.aLl.l t . r p m e . l Ja / . ..nbinetli.taane l.tgpt shtDnent l.t e.onant af t1.'span

:i@."@ l+

Deconsolidatjon

50, supph ch.rlr nnnagemeni (SC\I) nakes suie t] t rhe risht items are iI the right placcat the right time.nd nl the rlght quantitics.Thereare ofroursc rvider str.tegi. issues: Ho$ man\ supplie6 should thcrebe?And where? i\ihere should ihe ptull,cti(nr iacjlities,distflbutron .enbes an.l rlrehoGes be locatcdl l\'hat distributionchannelsshould be !sedl lVhi.h logistics.omp.nies shoul({te used,both (p*ream .nd !l.nvnstrenni? Ho\ (an 1Tbe $ed b ifteg.nt. ill the pro.esses,nrke thetu nrcr. cfli.ient, fl:g !rf poicntirlbottlenecks,gi!e .lerr signils oi deNrnd do$nstr.nn. etc? I I ( n r i s ( i s h l l o $ n n d p i \ h e n t i o . l l t h e p a r t l e si n v o l v e d in the n,tph chnin !.ing to bc nnuged? I h . . l m o i S C N Ii s l o . o l h b o r . r t tr,! i t h . l l l h c s u p p l v. h a i n p i r i n c r \ n , i n \ r o \ . l h c l i s i b i l i t vi n d ! c l o . i t v o i i n v c n i o r v

Logistics Ihc $od loijisii.s'rci.s to t]l pr.ct c.l iss!.s surorndifB t r n n s p o r t i t i ( D ,$ r r c h o u s i f g i n ( l i n r ( n n ) N n i . r n i B c n r . fi . \ \ ' l r c r ci h . r . l s r n e \ l . r u l l o . ! s i t ' \ n r , ( o r l ( s s n s \ n o n l D f ( n S C f v l ,b u l i l . . r n ! L n r h . r r r . f r n l | m . r Li i ) . u s , it.lling Dr.iieri.rlslr..r sit. r\ lo sitr ll ifsld. .r .omp.ny .rt Lliiiircnl sriges ol thf Lrusircss fn).ess lhf trrn loljisti.s' r\ .rl{i r$fd nr in.rlkr.onprri.s whcre '!!fply .h.rin Nrnrg.nrrt seefrs nn) Srrn(l

I r i , n ( n r r \ r r d k f i a l s h r n ( l l i r ! g i I i i r k r h c t ] . r 0 r r : g ( n x l sa f c p l . r . , l { r ' t ) r l l c r sa n { l n ! ^ . , 1 , ! r r , n r l , n , L n l l i l i o l , . l s . l i , t r o l \ . \ i , t r c r ! ) , \ r i l r a g . u u , r i r o . , r ' s r n g c u s i , , sI T . T I i r n r h r l ( 1 r h c r b i l i s r , d . r k i r ( . t r ) i\ n r f u n s i r . lri.'\JI,,,-,r,i'.,Ir,| I r . i r i . . . rt i . r , - , , "|''|,,, $ pur.hr\ing,trd phlr Iul.rg.n!!rr.

{rl'

lr itrr,,lr.srcl,onl olnrcxtrsol urr'\txnr: rn. (,ring\Ila:ial c.r-9,, rnln,e\)i {r'r (rLjdr .onrnrerl {ar k..l op .D ftrp .l . r c h o r l t , ) r ' o i . l ( u n \ , o . r r ! . L \ \ s i r hl n i l . N ) j i i l ( | \ i n g N r g o n s/ ' I i e i g h t . r N ) . . It inrohcs ! (le.i\n,r rrlr.ther or not ro rs. i tl,'r{r par$ logisLic\ l,unl.f (ilPL). These (rnpr.n s pnnj.k. nt.gnred pi.k-rDd-pa.k- rearhousilg and.lis|iburn . th.r can al$ a.t xs fonrar.ling igen$ r) handlc \hifpn,g

15 SUPPLYCHAIN MANAGEMENTAND LOGISTICS

Exercises '15.1

Find a word in the text opposite that matches each definition below. Th€ words aDDearin order.

15.4 Completeth€ text about logisticsusingthe words in the box.

I dt an eaner stagein a process balancing ensuting

3 groupsof thingsthat aremade(ordealtwith)together l . 9 e b J i l d . n g \ ' o ' . r o r iq g o o d \ 5 ftwo n?ords)bu ld ngs lrsedfor ihe srorageoi goodswhich w l l d r p rb F , h i p p € dr o . p r d o u r e r : (fau wor.ls) exretnal tr'Tlt that prov de specialist servcessuchas transportationand warehousing 7 (phrasalverb)*aw atent on to something

8 d€laysin onestageoi a process that makethewhoe process takelonger Now do the samefor the words in 'Thecomplexityof logisti(s'opposite. 9 comingtowardsor arrivingat (ega factoryor airport) 10 fforma,goodsfor sae 11 takinggoodsoff a vehcle 12 fthreelrordi)the designof the paftandInegcornrng wheel, wth a central out of it 13 f at woodenstructLir-.s usedfor movingor stoinqheaw goods 14 (twowords)\ehicesw th specialequipment at the frcnt for lift nq a,rdrrov19 lêavy obtefls l5 followthe progfess of 16 (phrcsai vetb)ananged intoa neatpie

t 7 backseciionsof irucksthat can be separated,and are usedlor cary ng heavl,objects

t 8 processof siariingwith a argequantty of goods, sort ng them a(cordingto d ffereft deninations,and ihen re-packaqing them wth new shippn9 iabes

1s.2 Readthe definitionsand .ompletethe examples with one of th€sewordst.argo,frcight. 1 goodscarriedby shp or alrcraft[+ ofl Ev.a"..lple: a shipcarryinga ot ail 2 qoodscarriedby shp, tra n or a rcraft;ihe system of movlng rneseqooos Exaraple: ...................................servltes

'Logistic!' isa tem that is usedin manydiffercntways. Usinqa broaddefinition it canincludeal of thefollowing: the rightproductisat th€ ight pace at the ght time. Demand' and planning Determining the quanttyof goodsthat needto be ordercd Inventorymanagementand materials3 by Keepng thesupplychan ilowinq,with no boltenecks, 'e'ent quarrty r(e'1s rhe o' aro " locatonsanddifi€rentstagesn the process. Communication te(hnology the orqanrzatron to rlssuppliers with lT,lor example to provde lnlormatonabouidemand patterns lo facilrtate Just-n-Timede very. Transportation 6 the ben meansol iransportation (ieair,rail,ship,truck). Pufthasing

with suppiersaboutprice,avaab ity,

Locating anddesigning faciltiesthat alow efficientstorage anddistribution Allthe aboveactivities mustbecoordnatedpropery. - essof onethingand hevitablythere will betrade-offs moreof something els€ in ord€rto achieve the best

see page147for somediscussion iopi(s.

-ffi ::=-;-4-

liiir

15.3 Make phrar$ by matchingan item from each

2 3 4 5 6

s!pp v ----\ f nished \ f na logistics d nr bulion forwardng

forecasting handling seleding watehoustng

##il aqent qoo0s

:*L

'

,vl, 1b,rJ,t bt $e bB naw,

"

Pfodudion and operaiions 35

@

.*" production

The Toyota Production System (TPS)

Just-ln-Time(JlT)

TPSis the basisof modem manufactuing. It was developed at Toyota at the end of the 70s and during the 80s, but is now used right acrcss indsiry T"S focuses on two thinSs: adding value and eliminating waste. Value is defined as any item or fealu.e for which a cstomer is willing to pay- Anything elseis wasteand has tobe removed.TPSidentifiesseven

In is a closely related concept. Here, paits and components are delivered orny as they're needed: at ihe iight time, in the righl domts and in ihe ight *quence. Delivery to lhe factory gate should be Jn, as should delivery to individual work stations on the assembly line. The aim of IIT are: minimizing inventory produong item at a rate set by the customei, eliminating any urnecessary lead time, md generaly optimizing the flow of materials from supp[ers through prcduciion and up to the point of sale of the

1 Overproduction: ploducing too much, or too soorL or too quicll).O\erproduction i \ m i t u m r / e db y u s r n g a ' p u U ' system; this meam ihat work isn't performed unless the part is required downstream so in the end produ€ts are made only as a dirst result ofcustomer activiry. Materialshandling:inside and outsidethe plant-t Movement;performing task manually thar €ould be

A1l of theseideasare r€cycledin the modem concepiof'lean production' (lean= with litde fat).A leanmanuliactureris constantly tryin8 to leduce manpo'vet materials, money, machines,time, space,mjstakesand effort.

?, Waiting:idie time betweenwork stationsalong the

Kaizen

5 Over processingrdoinS more than the customerrequjred or is willing to pay for tj Inv€ntoryrexceedingone-pieceflow. One'piecenow (also kflown as 'continuousflow') is when iiems are processed one ata timc and then moved directly to the next pro.ess. i Defecis:rework, repan,or wastein its simplestform. Defecisare rigorously analyzedto make sure that they don't happcnagain (ie 'error-proofing'the system).

Behindall the techniquesdescribedabovelies the idea of 'kaizen'. This is rapanesefor'confinuous improvement' - m a k i n gc h a n g c lsi | s m n l l .i n c r e m e n t a l i r e p t>l .i r i r j e e r asbeing done through teamwork,peruonaldisciplineand rnvolving workcrs drrectlyin the procesrof improvin8 quality.Apractical impiementationof ka'zenis'the five S'approach to workplaceorganization.S€ebelow This is deriv€d from five Japan€sewords beginninSwiih 'S', and Englishhanslationshave tried io find five 'S' words.

52: Set ln Order arrang€everythrn9 in a neat,tidy.nd

53. Shrre Oncethe workareahas beensonedandsetin order,cleanit up sothat shineslClean everything the areaitsell,aswellas equipment andtools.

S1: Sort Review everything separarng wnai rs needed lromwhai is not.Remove anythnq

Pdnciple:a placefor everything, andeveMhingin |t5p|ace Keyideas:discipline, simplicity, pride,standardization and repeatability

36

54: Standardize Createclear,s mpleand v sualstandards for 51-53 Example1: shadows on work surf.cesandinsidesiorageboxes showwhichtoolsshouldbe where. Example2: a re-order card(calleda 'kanban s attached to an iem and ) pa(edsomewhere afterihe item is used.Thisgivesa vsua signalwhena newltern is needed.

55.sustarn and mprove51-54.

16 IEAN PRODUCTION

Exercises '!6.1 Find a word in thetext opposite that matches each

:6.:

definitionbelow.Thewords aooearin order.

in brackets.The new form may be a noun (singularor

r oaord i -" ^f"-r a -dcf -e r(- ô.rgo. !sed 2 the cont nuousrnovementol something I

r 4

b"r1g

r d . i , r Lo ^ " r o ^ l p . h , q . - : d " m a k r n qs o m € t hn g a q a n

5lrynqtoavod(orprotectaqann)futuremstakes 6 t a k e nt o a p l a c e( e qh o u s eo, f f c e ,f a c t o r ya) n d g v e nt o 7 (rwo worctl time that mln be a owed for .omp et on of ar operalon or process 8 a lhe workersthat are neededto do a p.rticularlind oi

Fill in the gaps with a different form of the word

p l u r a l ) ,v e r b o r a d j e c t i v e . ( ndlstry) I T P Sh a sh a da b q m p a c lo n processes rn mafy secroEor rne ( e c o n o m , :G ) e n e r a l yi t, h a sm a d em a n l f a c t unr g r n u c h 2 l i i s r n p o r t . n o m a l e . d e t ae d ( . n ay z e )o f w h c h i e m s a n d f e a t L r r easd dv a ! e , a n dw h c h d o n i T h e r e3 n o p o n t m a kn q ( m p r o v e )f t h e . l n o m e r ! n t \ , ! i n g t o p a yf o r t h e m I n . bad y rln fartory.m.ny proc€ies are (\,v.ste)afd eves of invenlory.r€ (de ver)to the fdctoryqate or (assembe) l ne rsrnddeon y wlren

4 w th lll

9 I n c r e ansg g r a d u ay Now do the same for the wo rds in The five Ss opposite. 1 0 h d v ed b r i g h t a , t t r a c t Naep p e a r . n c eprr o c l u c(eo r r e l € c l ) rgnr I 1 t h n g st h d t y o u h o d n y o u rh a n da n d u s e1 ( )d o .

1 r. it Comp lete th€ text about the 'Theory of constraints' with the words in the box.

bartlene(k btan.h .ustamrze.lshape straight rub-,rsr€mbrersynchrannatian

12 (two wotds).anra netswhere th ngs are kept unlrl they re 15.2 Make phrasesby matching an item {rom each I add 2 bew rno 3 delv€r

wane (irom a process) . 1 a ! L( m . n u a v r v a l l e( t o. p r o d ! . t ) po o r o r o .o J q d ' a

5 makesure

1op.y lor someth n9 s o m e t hn g d o e s nt h a p p e na g a i n

(us,nqI T) nventory ( l s i n qI T ) thefow ol mare.alq

8 clean|]p 9 errorproot

T

t,l + t t l , l t a r t t t t t

t h e e q up m e n ts o i h a t l s h n e s a synem (by rlgorols analyst a kanb'n cdrdto an (em

[o

l- -t t t

(TOC) The'Th€ory of connraints s anoiher approach to marntai.ng fow in prodLr(tonA constra nf 5 a Lna syslem something that n ts f ( l e ' o 1 o 9 , "T. O C d . a " , r r , " a r o "o o r ' b e o l a ' r r ayo!1s,where th€ productron nes nsde the plantare a r r a n g e dn t h e l t h ea l p h a b e(t, A , V a n d T ) A n - p a n l s t h e s m p e s t H e r e t. h ew o r k i s d o n e n d

m.t€ralr(nsrde a plano

1 0 h a n de

Ao

t t t

lineTheconstra nt s smpyiire s o w e E ot p e r a t i o n Next s an A-ptant Many i convergefor a f na assemby. Here,the probem s ' , w i t h c o n v e r q L nnqe s a r v n q

[€t

I o Go

W i h a V p l . n t ,o n e r d w m a t € r a s m a d ei n t o m a n yt n a p r o d L r d sH.e r et h € p f o b l e mos c c u ri m m e da t e y . f t e r t h e divergen(epoint any operaton along one ol rhe V can rob (= srea) mdreral " me.nt for lhe olher bfan.h. Finay, we havea Tpant A nLrmberof baslcunitsar€ producedon . ne and then 7 at the end. Ihere s a wide vari€tyof fin. producis Th s type of plantcomb nesthe problemsof rnorr of the othe6!

BrI,LACD TOOLS.{}'tDlt IJSD s e e p a g e1 4 7 f o r 5 0 m ed i s c u s s i o tno p i c s . P r o c l u d i oann d o P e r a t i o t s 3 7

@ o"",,o What is quality?

The word 'quality' has m everyday rneaning ihat has to do with features,reliability,performance,durabiljty,aesthetics, value for roney and conJormanceto requi.ements. It has more specific freanings, palticulaily those in the next few

Quality cohtrol and quality assurance Quality controi is aboui detecting defects after they happen. It invoives random samplirlg, spot check, inspechon and Qualiiy a$urance is abouiprcvention rathe! thm detection. lf a failure happens,then it's isolated,the causesare analyzed,and thereis a redesignof the processor of thc Prrlc to InJlc \urp ir doe-r r hdppcn agan Thc drm rs /ero defccts,to Bet things riBht fi.st time.

Quality managem€nt Total quality management(TQM)is a philosophythat was very popul.r in the 1980sand 90s.It aims to put an awarercssofqualiiy ai the heartof all organizational processcs(cg cusiome.service)and notjust production. It puts an cmphasison a coniinual increasein customer salisfactioncombin€dwith lowering costsby eliminatinS wastc.1tis similar in rnany ways to ihe 'deasdiscussed in uniis 15-16:SCM,ToyotaPrcductionSystem,Lean Manuficiuring, kaizen,etc.

EuropeanFoundationfor Quality Management This organizalionhas taken the ide.s of quality management and is kying to apply them to allorSanizations,including thosein the servicesectorand public sectoi It has a franework for assessingand improving organizationsthat is basedon eisht conceptsofexcellence:resultsorientation, custoner focus,leadershipand consiancyofpurpose (ie benrgfaithful to aims and obje.tives),managementby processes and facts,peopledevelopmentand involvcment, continuousimprovemeni and innovation,partnership de\ e-upmFnt.dd corpor.rrecocidlFsponsibiliry.

A variety of approaches As can be seen,qualiry is a topic that occursunder ihe umbreUa of many differcnt philosophies. This is good news for the alrny of coNultmts called in to explain and implement ihe latest mmagement fad. But certain things are common to all ihe apprcaches:measuringand systernatizing processes;reducing lariatior! defects and cycle iimes; and employee involvement md teamwork. The differences beiween the approaches (and others noi mentioned aboee, like Six Sigma) are related to which tools, chsklists, measuremenis md training they lrse.

38

Qualityisnt fr€e it comeswith a cosr But if mereare no qualityprocedur€s,then the cost is muchhiSher:continuinS probl€mswith the product,a lossof confid€nce in the brand, and Gwer sal€sas a resulL Here are just some of the ways tnat compani€s hav€to spendmon€yand dme to ensure

Engineers haveio spendt me wth marketers dwng the development of new productsto facilitate desgn-lor-manlfacturc Therehave to be supplie.capabity surveys to makesure that suppliers canachieve the qualtylevesthat theycarm.The.e haveto be regLr ar meetngs, ed--"L,ord.o ra,l,ig rbo .r qLdhr/r p o.e. e' r

The companyhasto inspectand tetr Incomrng materal,materiathat is being fn shedproducl.There is aso the cost of buying anc serwcrng anyeq!'rPment usedfor meas!dng andrcnng.

Theremaybe scrap, rewo.k re,nspecton re-tenng,etc. i lhesecontinueat a h gh evel, thenpelnaprtherewill be a fundamental review ot suppiersandmaterias.

'w

Timeis neededto process customercompaints, to processcunomerreturnsto dea wth warantyclamsandto handeprodLrct rccalls.

I7 QUAIITY

Exercises '17.1 Finda word in the text oDoositethat matcheseach

17.3 Makephrasesby matchingan item lrom each

definitionbelow.Thewords appearin order. iniercnedin; selllng is particularly 1 thinqsthata custom€r 2 a s t n q ao n g t m e expect : ffhreeniordr)beingsimlarto whatcustomers

2 3 4 5

spot zerc right results

for testing 4 t.frng occasion.smaI qudntrnes (haowords)examinng a process y,without sudden warnng andhaveno use mdteralrthat areleft aftera process 7 setof ideasor ruleson whichdecsionsarebased sales especialLy on achevempnts, 8 (twa wofds)an enphasis andprcfts for a shofinme that s popularor fashionabe 9 something ony 10 ftwo words)how longvariolsactvitestake10complete (e9oneprooucr|ofrun) Now do the samelor the words in 'Qualitycosis' opposite. 11 lookingat how easyit is to makea newproduct,notitrst the leatures 12 fthrcewords)asklngqlestonsto iind out if yoursuppliers areableto meetqua ty slandards I 3 m.ieralsor smaI partsthatareno iongeruselul because for example 14 ftwo words)the returnof products, th€y'refa! ty or dangerous 17.2 Fillin the missingletteru.Most of the antwersarc not in the text. ng quality. 1 lf qlalty is r€. y good,thenitt outst thenits 2 lf qua ty is usuay good,bul not always, e qlality. vari thenIs f qualiy sn'tasgoodasothersimilarproducts, nf r qlality. lf qualityis bad,theninneadof saying'bad'we oitensay p r qlarry hasquallty, thenyou lf youmakecertainthatsomethinq lf yo! mprove the qualityof a product,thenyou enh ceihequaity. lf yousrat€ihe quairythatyouwani in an exactand detaiedway,thenyouspe fy the qualry. to lf youregularywatchor checkthe qualiq/ol something f nd out whatis happenng.thenyoumon or the quality.

lilst t me samplinq tir.e

8 cycle 9 warranty 10 product 17.4 completeea(h definition belowwith a pair of words(and phras€s)in the box. Eachterm in bold is commonlyusedwhen dis(ussingquality. puru^"t", r u",y rro^ tn" no^ ) conplian.eleltitied nethadology / elininating defects peienhag€e rbe5ta1a653 d:€tklspails the appeatance wan.ntr.lains I inprove quality neasues / thtoughout buslness predkt / fewer nistakes

your Senchmarkings measuring be5lm./ars againstothercornpanie5 thatare to andthenusingthe nformation Tolerance isthe amountby wh ch (egsize)can beforethe piecebecomes standards of quaity 3 ISO9000 s a setof lnternational with canbe audted lor Companres oneoJthe nandards, andthenpubiclystatethatthey're

'rso9000,

i5whena requrementhasnot been Non(onformance met.lt doesnot needto be a serousdefect,it coud

qua iy six sigmaisthe nam€of a well-known . t takesa highlydiscplinedapproach Theierm'sx n manufactLring. to slgma'originaly comesfrornnaiistica. Key performanceindicators(KPb)arestatsiical s of howwellan orqanization Theterrnis partruarlycornmon dolngin partcularar€as. In p oduclro'] oppd ions,b,t i9u{Fd "nd Leadingindicatorsdr" l\ose that Forexample, evesof staffsatsfaction a futureoutcome. A morernotvated areoftena leadingndcatorofquality. workforce wil make lagging indicatorsar€ihoseihat showa result.For ...area aqgingndlcator exampe. of qualriyFewerclaimsmeanthat earlieractonsto arenowworking.(A 'lag'is a delay betweentwo ev€nls). topics. Seepage1€ for somediscussion

Productionand operations 39

Sales What salesthinks about marketing! Salesconsultanisi{ill quickly tell }'ou how fteir job is different to markeiing.They'rethe oneswho hale dnect coniact!'ith the cusrome.s,ther,re rhe oneswho reallv know what is goirl8 on in the market,and of coursethel"re l l r no n p . w h ^ I \ . * r t L t h e i n \ ( u r i n o I - t e . r : r l - e r ,a - d commissions.Thc marketing guysjust sitln their officeson fixed salaries,drcaming !p fancvpromoiions,or rhinking of ncw prodlcts thai later researchrvill rell ihem no one $ants. tl only the niarkcting guys spokc to ihe salesglys more ofien, the busincssworld do so much better.

What qualities does a salespeEonneed? A salcspersonneedsio be: (of Urecusiomerand tlrcirneeds,of rhe Knowledgeable being sold,and ofthe indusrrv.nd iechni.alarea) Products

Visibl),well prepared,orgdized and well,prescntedto inspire confidencein ihe oiher person. Reliable(eg fiey phone backwhen they say they aili). llexible (eg tiey're able to respondto changinScustomer needsand offer tailor mad€ solutions). Ii is an oldjashioned clichaio think of a frodern sales consrlt.nt as behaling like soncon€ who s€llssecond-hand cars.Thescdays an aggiessivchard sell verv rarely rvorks. Custoncrs rvant to be helpcd to make their own decisions, not to be pushedbeforethey'rc ready The bor below gives someidcas for modetu salcstechniq{es. Thereare a \arietv of meihoclsio closethe deal:a cli.eci reqresi,a com'nand,a reierenccto an immediite gai., fear, presentingnltcrnatiles,a suhmary and finally sinply an assumptionthat ihe customeris toing io bry (iebehalin8 as if ii's true cycn though the cuskrn.r hasnt dchrallysaid yes)

Solestechnigues Gene|"otpoints TfI lo idenlf/ lhe d lle€nt .oles nsidei companl Who G l h e d e cs i o nm a k e . ? W h o saed v c ew i l t h e y i i s t e .t o l W h o w |cul I be usn8 lhe p.)dlcr? Trr<€limc to soc,aze and bu,ldrappol . lhe fljt fes nomcnLs h parl c! rr show .lcresr rn rhe clstomci:

Discovering customer needs Hrvc bB e.rs and a s.na mourh Ask ors of quesrons L stcn i.lvey:locus yo! i11ento. on the other pe.son and take notes K.owedge of.lsromer needs s a m.Jor compettve advantage lln as mpola.t as rhe p.oducr rear!€s or LnePnce. Che.k ncedsby restatngthem Refefto the nfomato. you h.ve co ecredrhmlghour rhe

Presentirg the best cdse Brd.".lo^ odFoot^ needs,rathefthan work ng f-om a sffpr Be.ear and prcdse ludgethe eve olderail rcqu red.an.l Emphasize benelits(ie what a product does how !t will make le better fo_the cqstomer)and .or lusr feat!.es (e what it s) u.-

e - . . r , . - " i e c . o a . 1 D . o ' b e , e .L Sellthe prce by demonst,-at ns va ue fo. mofey (Be,ng c n e a Ps , ? r e l a v r n u e . )

D,ficrcntate f , o m t h e . o m p e !t o . w l h o l t o p c n y k n o . k n g show how fou. c.rses tn orcd. Bec"edo. 'o^ oloc-cc.a p,.

o,.t

o. cagc ..c

give attentronro detail Mrke lolr.:'te belelabe b), refering to some lorm of p,oof a demonst.ato. of the p.od!.r i me.r on of othcr satisledclstome-, givn! the rcsulteoftesrs and rescarc/-r, unngthe powe. or.umbers (cs 00,000so dr 20 yearsln R e f e .t o a i o . g o . g € a t o . s h r p w r h l h e c L s t o m . r :

Hondling objections V , e wo b l e c t o . sa sa . o p p o r u n t y t h e y r c a s g n o f nte,€sta.d are ncvitabe Flrst acknowedgethe po nt. L l e o o J r_o ' s g n n c a n c eo . t u . . I r n r oa P o s t l e .

closing iooto. roro, z z.ea.y readyto makea decisionl The clnome. makesa .eferenceto the p.oductin !se, pehapswrh an asslmpton n the r way of ta k ng ihat TL-. ,one'". r ' c e . r ' ' r ' - / o o p Fo "oo. a.h eve afte.thet havebeenlsingthe prodlct fof some The clnome. ask afteria es qlestions,ie qlenons about

1A SALES

Exercises 18.1 Finda wod in the text oppositethat matcheseach definitionbelow Thewordsaroear in order. 1 expensve andcomplicated Now do th€ same for the wods in 'sales techniques' 3 a r€lationshp in which peoplelike, undeEtandand respect €achother 4 fnro words)somethingth.t helpsyour companydo better

5 wr ttenwods, I kethe onesthatactorslse wordsusedby peopein the sameprofession that a.e d iiicui for oiherpeopleto understand 7 crticzing 8 accepithat something€x sl! 18.2 Mat.h th€ techniquesl-8 to the salesconsultanrs 1 Responding io the cunomerbneedsi! 2 Sellngthe prceby showinghow t canbe dividedinto smalerpartsi I 3 Showinghow a featurehasmorethanonebenefit 4 Seln9 t1e p'ce by showi^ghow roney canbe saved 5 Se ng the prceby offeringsomething extra: 6 Saying somethng whenyou'reunabeto givea tarloFmade soutionL , 7 Acknowedging an oblection l 8 checkingundeGtandinq i 'BecaLise yousaidthattimingwasimportant, let metake that pointnext.'/ 'Yousad earLie. thishadio be cost' effect ve,so.,,' 'ls thatc e. r?'/ 'Wouldt be usetuto giveyoumoredetail?' 'Thi5 your hasmultipeadvantages.'/'This willalsoirnprove exsting...' 'Yo! knowit wouldcosta lot of moneyto do it thatway, andyouwouldlosethe exceptional valuefor moneythat you?egettng here.' 'Yo! getthisplusth s.' 'Yo! canspread the costsover...' / 'Theusecanbe shared by differentdepartments.' 'lt will helpyouto reducecosts.'/'Thisw ll eliminate the 'Yes,thatscerlainly something we needto review'/'Yes, thais a fair point.Letrnegiveyousomebackqround to explan whywe do it thatway.'

18,3 Techniques 1-7 are all ways of closinga d€al.Match the techniqueswith the salesconsultant'scomm€ntsa-9. 1 Dnectrcquest I ga n 3 lmmediate a Fear5 Alternatives t l 7 Assumpton i 'lf yougivemethe go'aheadnow.thenI canhaveit up andrunningwilhina week./'We havea speciaofferthis 'Wehav€themin stockfor immediat€ deivery,but you knowtheytesellingv€ryfast.'/ 'Lfyoucan'tgivemelhe go-ahead today,the delivery t meyouneedi5goingio be difficult.' 'Riqht.letsget thisorganized.' / 'Letme havewrtten confirmation assoonasyo! canandl'l startthe ball rolling.' 'Shall /'When we go aheadT'/'How mLich wo!ldyoulike?' shallwe stanT' 'Areyoumoreinterested in the regLilar modelor the executive modelT' /'Do youwantto schedule thisfor th s monthor nextmonth?' 'Yes,I canseethatthisi5goingto wofk reallywellfor you.'/'OK,if youh.veno morequenions, I'l lustgetthe papeNorkfrommybag.' 'So,th s solutiongivesyousomethng thatworkswellwth yourexisling is easyto install,andg vesyou equipment, significant costsavlngs. Canwe go ahead?' 18.4 Underlinethe @rrcct(or most likely)words in italics. I So,ii lookslikethissolltionworkswellfor you.Sh. we ga in frcnt / ga aheadl 2 We canhaveit up andrunning/ up and gaingwithna 3 ldon't wantto knock/ c,Ucthe competition, but this s a mu(hbetterproduct. 4 Thisisthe actua// /atestmodel. 5 Yourc lucky- it'slorsale/ or ialeth s month.We're runnrng. sp€carpromoron. 6 Yes,the on€in the shopwindowis for 5a/e/ on sa/e- yo! 7 Inthe weekbeforeChrstmas we usually seeveryhlghsales valumesI quantities. 8 NorthAmericacountJfor / accaunts for 4AoAaf orl Seepage144for somediscussion topics.

Salerand marketing 41

Customer service The phrase'customers€rvice can refer to pre-sales (eg enquiries,quoiations),sales(mit 18)dd postsales(eg order pro(ess g, rcturs. complailts. warranty.laims). The phrasc'cusiomersupport' is usuall]' limiied jt$t io posi sales au{orn"r -en 1" .i.et b-rress ru.lion fidl b ofien overlooked.In an agewhen nanv compciing goodsand sen'icesare very similar ihc qualii] oi customerserli.e can frake a big difference.Cood cuslomerservlcecan lead to .cpcat busin.ss,i{hcrcas unsalisfiedcustotuersiell all thcir fricnds. Ir thc box oppositcvou will find some tips for tood cusiomcr

42

Litire lhings that mare a BIG ditlerence *

ll customershaveto wait,olfera drink,magazinesand a comfortablechair

*

Be fiendly: use narnes,rememberpreferences,send a b nhciaycard. P.ovde somethng kee: coffee,biscuits,pens samples. Alteran expensv€ pLrrchase, lo low Llpwith a quick cal just to checkthey re happy.

Customerrelationship management (cRM)

Providea ife tiraemoney-backguaranleeA most no-oneactuallyreturnsproducts

Cusktncr scrvic. oflen makesusc ofCRM softw.,c. This albws ihc comp.ny to provide a unified face io thc cusioncr regardlessof their.hanncl of .onmunicition - ielephorle,cnlail, or facc b fac.. Thc cuskrmcrlray h.ve ar injtialenquin, an ordct d r a , r c n d h c n tt o . n o r d e r a c o n f n m a t i o n ofan ordet i cancellationof an oRicr,ar enq!iry alrort dclilory dciails, an ific. s.lcs cnquiry nbout lsing th. pr()d!.t, or. conpl.i'ri Wiih . good CRM svsi.nr ii makcsro diff(rrrcc - in o!c.y cilscihc dri.ils willg.t loggci n) ihii inv nlomborof staffcrD imm.diatclv s.. " tcoftl of ih. c.sc.lla!ing this nrfnmation nrsiaDtly .v.i1ablo on-scrccnis a huge advanlagc.Whilc lalking tu a cusbmcr vou knoh, which prcducis ihey ha!. bought bef.nc,io what v.lue, hor! thev paid, etc.You ci'n also seea rccord ofBhich quesinnrsthev hare asked,whether they h.ve ever ade a .omplaint, and ifso how it was rcsolvcd.

Rernernber to providean FAOsectionon yourwebsite and sa es lrlerature.

Don'tlorgetyour existingcustomers

Active listening

*

Akey skill for customerscrvi.e st.ff is actile listening.This means: :i Use ihe other pe$on's name. I e r ' h e c u s l u m r, p \ p l . i n r h e - : u e a n d p a v t u . , l r e n l , ^ n\ h l e r h " y ' n . f e J t I n B .D ^ n t i 4 e . r u p , . exceptfo. .1)clarificationquestionsand b ) o . a - n n J l b r e f' u r r n . r i . - . l - e - e - - n r , r F show you're lisieningand are on common gromd. ,r Make wdtten notesofley points. ' ff thereis a pioblen, rcsistthe urge to argue, defend of excuse.Apologize sinceielyand a.knowledSeany inconvcnience.aused. ;. If the conversaiionis face-lojace,maintain good . r e . o n r . II d n d d r ,o p e - b o d y p o - . r Fr i p F d n i f g slightly torvardsthe oiher person).

* Get lhem to upgradetheirproduct

Dont give cuslomersthe run around:il yolt can t personalydea wth somethng thenstaywth the customer whie youhandthemovergracelully to a co reague Rememberihat Ihe thing thal makescustomersmosl annoyedis whenlheyle passedfrompersonlo person on the phone.Takeresponsbi ity.and it you can'l dea wiih I, lhen say you I caLltrem back (Youmay need to reter I upwardslo yoursupervisorlor a dec sion lirst ) \,4akespeciliccornmitments: not. We I gel back to you in a coup e ol days, bul 'WeI get back to you by spm

*

Oflerthem a bulk purchased scountin the future Evefytime you ship a product nc ude a flyer catalogue, spec al offer,etc ns de Haveperiodc promotionslor'preferredcustomers'. Invitecustomersto an event:it cou d be a product demonslralionor seminar,or I could be a soc a eveni n an ad gallery/ historic buiding/ interesllng locaton. programs,and mai frequent Havefrequent-buyer buyerswith a periodicnewsletter Ask your customershow you can improve.Use customersatisfactionsurveys(and provde an incentve for them to be relurned).

t9 cusroMERsERvtcE

Exercises 19.1 Finda word in the text oppositethat matcheseach de{initionbelow.Thewords app€arin order. 1 ente€dasan officalrecord Now do the samelor the words in'Customerservicetipt' 2 (phrcsalveh) askyoutbossto dealwith an issue 3 prcmises to do sornethrng (twowords)whenyoubuysomethinq in laEeamounts printedon paper;small 5 advertsement of announcement 19.2 Makephrasesby matchingan item from each 1 'olow -p _---\ 2 provrde 3 be passed

-'-

guarantee a rfe-tirne a purchase with a qurckcali anyinconvenience caused the urceto argtie specific commitments irom personto person a flyerinsideeverypackage detailson a cRtVsystem

5 include 6 log 7 resst 8 acknowledge '19.3 Completethe s€quencewith lhe wordein the box. a canplaiht ah initialenquiry infomation an invoice(withfre goodl an otdet theorclel thepayment theNobbn a guotatan the quotation

19.4 Makephrasesby matchingan item from each 1 2 3 4 s

body-----_\ channel (ommon on-scleen p€fered

6 7 8 9

prc-sales bulkpurchase money-back satisfaction

\ \

-':

customeE grcund information posture of communcauon guaranree enquiry

19.5 Fillin the gaps. 1 Thewonds'goarantee' and'waffanq/'haveverysimar meanangs. However a !suallyhas a timeperiodthatcanbe enendedandthe word s a usedin bothAmerican andBinshEnolsh,wh-a'eas is more oftencannotbe extended, commonin BritishEnglish, andcanbe usedwith a more 'a abstradmeaning 0ike promise'). 2 FAQstandsfor Fr 3 lf a customer asksyooto do somethlng andyouavoid givingthema definiteanswetthenyou'givethemthe | --a_ . _d'(infottal). 19.5 Comoletethe deflnltlonswlth the words in the box. expectatons expeience feedback layav requirenenE satisfaction suNey

'I customer

profjle

= thefeeling thata customer

getswhen they?ehappy

2 customer

= whena customer always

bulsfromthesamecompany

3 customer

receives the goodsand pays

= nforrnation, advice or

fromcustomers or g ven criticism, deliberately collected informally by them = a setof questions youask 4 customer to find out customers' opinions = whata customer 5 customer feesand remembeE thevhavereceived aboutthe service = how peoplethinkthey shouldbetreated customersaccordingto age,llfestyle,eic = clstomer needs 8 customef S€e page 144 for some discussiontopics.

Salesand marketing €

What is a market?

What is marketing?

The phrase 'the French market' is jEt another way of saying 'lhe population of France', but marketing professionals rhinl of a mrket in a more specific way. The whole population of a comtry cm be broken down into market segm€nts.

Mdketing begins wiih 'the fou Ps': produ€t, place, promotion dd pri.e. These combine to form rhe lrEkeiing mix for my one product or serice. Elemenis of'the four Ps' are shom in the table:

In a B2C (business to consumer) company, customeF cm be divided according to: o Demographics: age group, gender ethnicity, income,oc.uparion.socialclass,maritai slatus. . Psychographics: pe$onafity, attitudes, lifestyle. i Geog.aphics:natio.al or r€gionatdivisions, city-centre or suburban customers. i Bercfits looked for by the customer: price, overall value, sPecific features, image with peerr eas€-of-use,se(ice, etc. o Current purchasing siruation of the cusiomer: brands used now how and where purchas€d, how and when used. For a B2B (busineEsio business) conpany there may be oth€r factors. For example, a B2B company needs to know the typ€ of c$tomer (eg manufactur€r, relaile.), the industry group of the customer (eg toy manufacturer or clothing manufacturer), their slze (eg salesvolume,number of retailoutlets),the ownership (ie pfivate or public)/ etc. B2B custoners are less interested in image and more hierested h ihings like ability to me€r changing patterns of demand, consistent quality, Justln-Time delivery, etc. They're also reached in very different ways suchas tlade showsand by kavelling salesreps.

Who should we target? once a conpany has decided how to segment the market, it can then do any one of the following: . Target the mass markel the comPany tarSets one rarSe market with a single marketing sbategy This was popular in the early days of ma*eting (eg consurner products in the 50s and 60s),but rew compmies today view this option as Targei multiple segments:here, each segment will have its own marketing strategy. Most large cosmer products firms do this - they offer muliiple products at different pnce points with different messag6, all within the same Targei one egmmi: a niche market- The compmy ta4ets a small market, often with just one or two very sp{ialized Targei individ@l customers with tailormde prcducts: there may be a peEonal dialogue to establish sp{ializ€d requiremenis, or the compmy my us€ data about previous purclEses (eg Amazon's b@k Eommenclabons based on what you have previously ordered from their site). The lntemet has bem the catalyst for this approach!14

. Features and associated

a Retailer

. Branding (ie product identity) . Packaging (eg *rer€ nay be a bag inside a box) . libel (eg printed on the package)

. B2Bdistributor

. Advertising . Salespromotions (eg special offers, discounts)

Extemalfactors(e8 ehsnciryof demand, customerexP€ctahons, products) competitor's (e8profit required, mark€tsharerequired)

As wel as'thefouI Ps',the term'marketing'also includes marketingstrategy.At its simplest,this includes: . Analyzhg the busin€ss€nvironmentusing market . D€velopingnew productsand new mark€is. . R€spondhgto extemalforc€s:the economy,activity of competitors,innovation,cultural change,etc. 'The four Ps' arecoveredin moredetail in the next fou

20 MARKETSAND MARKETING

Exercises 2O.1 Finda word in the text oppositethat mat
rhc f).r

.l h.i.n

m: a .. {om: p

3 peopleof the sameageor who beongto the sam€so.al group a (fornal) bry nt) 5 lrhreewordslthe waysthata productis neededn dlfferentamounts at d fierentlrme\ a

20.4 Compl€teeachsenten
..farnal pboptatohose prodJ 15,o a corpaî

7 try to nf uefce;a m to h 1 8 possib e andlikelyto succeed prcesth.t haveb€enspe(ialy 9 (twonords)particuLar I o.P1/egrq o0 o i 90) 1A bi/o wordi s.r,allgtoupof potental cunom€Bwho have s milarneedsor nterests I 1 eometh ng that rcsuts In mportantchanqee Now do the sam€tor the words in 'What is marketing?' partsot a product 12 rmportant 13 peceof paper(orothermalerial) withinlormation on t that s attached to an obl€ct(orpr nredon o 14 (thrcewads)how mrchsaesvo umechanges whenyou prce change the 20.2 Write €achof thesewords nextto its besr definition:advertisirq,ma*eting, prcmotion,publi.ity. 1 allthewaysusedto encoLrr.ge demandfor a produci (the most qenetai word) an activiy thai attractspeople3attenton io a product (oneaspectat # 1) t€l ng peope about a product(eg of th€ ieevisiof, n magarines)in orderto peruade them to buy it (one aspe.t af t2) any nformaiionthat m.kes peope noti.e a product(thE may be unp anfed, out of the coniro of the companyand

'Th€four Pl g ve th€

for a partcul.r

3 The percenlageof the marketthat yoLrhaveis your

4 Sponsored inkson Gooqe (when. customer s-"arches ior p Fffecl.e odLCr lype'r' a \ef ,oJr 20.5 Readwhat a marketersaysabout the historyof a

we choseto locusou. strategyon people n their ate teens and so we aunchedthe productat a seresof big rock concertsoverlhe summerWe soongainedmarket share.and afterlwo yearswe were lhe marketeader But afiera whileconsumers wanledsomethng d Iterenl Ourcompetilors noticedth s betorewe d d, andoursales dropped dramatcallyRetaefs stopped stockng our Wehada brandandwe hadlo stopmakng theproducts. big meetingand thoLrght againaboLrlour wholeslrategy Weagreedlhalwe wouldtry onemoret me Th€ phras€5b€low
e decideto target q f. I to seech.nqes n 20.6 Divide the phrases in the box into three groups, based on their meanings. be drivenaut ol apen up .orner wittulaw frcn entet .apture penetrate doninate

20.3 Matcheachword on the left with five words on the right. Checkany unknownwords in a dictionary dqency gn carnpa seepage148Iorsomediscussion topics. marketnq

nrateqy

s a r e sa n d m a , k e t , n g . 1

Product 'Product' is the tust of 'the four Ps' of marketing. rn markehngterDs,a prodrct is a solutionfora rargetmarket. The word covers goods and servicesdd cm also include the waffan\, .tsto'ner support and anv complmentarv products (eg add-on itemssuchas a casefo. canying thc product).

Four key factors feaiures are.haracteisticsof a produci that offc. bcncfitsto the cusiomer Takethe cxanple of a telelisjonl Benelit screensize scrccnresolution slrround sound

allows for nlorc distnni ri.nnrg clcaamore realisiicpictur. cnhancedsensort,expcricncc

The bcn.fiis .bove are callcd 'Iunctbnal benefiti In dddition, thereare pslchologicalbenefits.Theseicidrcss necdssuch .s stdtus$'ilhin a g& p, risk rcduction,scnscof nldeF.ndcnceand hipFincss. Branding R r . r n . l i njgr v o l v c s e s t a b l i s h i nagn e n t j t yf { r a p r o d u c t$ i t h thc go.lof disijnguishnlgit fronr.ompetikr{ offerings. This is cssentialin nr.rkcts {,hcrc productsir. similir dnd c o n r p c t i t i oins f i c r c c . l i ' sp . . i i c u l a r l vi n r P ( i . n l i n h . b i n g i ( )

posinon ihe prodrct: high end (= upscale/ up narket), mid narket, or low end (= economy/ down maiket). Thebrand itself may be the name of a product, or a familv ofproducts, or of t1rccompani,that nakes rhem. It usually inclLrdesa designelem€ntsuchas a logo or a symbol (€g Nike's 'swoosh'). Brandingis traditionallvassociatedwith B2C,bui recenrly B2Bcompanies(cg rntel) hale also srari.d ro hvesr in Packaging l'ackagingis veN important. It prctecrsthc product during shipping and handlinS,it gives lisibility to ihc p.ocluct (nttraciingaiteniion on thc sheh'es)and it ca. adcl valuc (by nriknrS ihe product eisicr to usc). Labelling Thc libcl is .tt.rche.ltu or p.intc.l on the packageor the product. Ii can attlact nttcntion $,ith griphics or crtchv $ods and p(x i.tesinro.mation i{) di.t a purchasedccisbi k t s i z c ,t a b r i . ,w i s h i n g i n s k u c i i o n sf d c l o t h e t I t ! s u . l l y includcsa code f(tr use it thc chcckout For minv pro.tu.ts (eg f(\)d, phima.cuticdlt thcrodr. legil requircnNrts fd ih. libcl .clating k) the listing of nriy.dicnts, nulriii()nil informat()n ind instructi(nrsfl)r usc.

AI [45

ADVANTAGES

STRATEGIES

Stage1 (brand=benefit): whenthe cultomerseesthe brand, theyassociate it with the benefitsth€y recejve. Stage2 (ben€fit=brand)r whenthe customer needs a sotutjonto a probtem,they automaticalLy think of the DTan0,

BrandloyaLty:custornels arelessliketyto switchto atternativebrandsin the future;protectscompany fro'n

Individuat(stand-atone) branding:'rew productsaregivennewnames,with no obvious connection to otherbrands or evento the company (eg Proctor and6ambte's range). Famitybranding;newproductsare ptaced underthe urnbrelta of an existjng brand(most products, consumer eg Cittette). partneuhip Co-branding: with another firm that hasan estabtished brand(egVjsacards carrying the nameof another orqarization). Privateor Storebranding:supptiers produce for anothercompany(eg retaiIstoressetljng own-b.a1d'te_s madebv a1 outside company). Brandlicensing:othersareaLLowed to produce itemscarrying the brandname(ega chitdren's moviecharacter licensed to a toy or food manuftcture4.

Brandstretching:new productscanbe addedunder the same'famjLy' brandname. Erandequity: oncethe brand hasa financiat vatue, it canbe

21 PRODUCT

Exercises 21,1 Finda word in the text oDoositethat matcheseach definitionbelow.The wordsappearin order

21.5 Fillin the missingletters.All the words descibe

1 givenfree 2 mproved

lt usesan camera? f$ ttaveyouseentnisamazing 'inn ivelensmechanism to get 6x optic. zoom.That's amazingllt3 2fu y auto c, andhas. 3bu i'in flash. It3 alsooneof the mostap tabe cameras l'veevers€en it's so5co d that it easilyfitsin a shirtpocket.lt usesown b€nd,6rech ablebatteies.lt's. really7 3st of the-a ple(eof kit. 9t 'integr t'ue seenan d fddgejreezer that l'm thinking $J aboutbuying.Theshelves areroadl ableandit'svery '1e to cl n. lt comeswith an rzopt al icemaker. tts ren y-efl nt.sorrw be 4e( cd toru_. andtheysaythe materials canbe rlec ed ater,sothat makesit very16env allyf ly.ltb madeby le manutactJrer, a rlel andrts 3t dblerr a 99 r ol cotou,s rshigh-per ce sneakers. They SJ t wanta pairof 2owatefp haveto be f.Aso,ldoa otofjoggingand don'twantto injuremyknees.So,the solesghoud be really '?rhi -t ch - youknow,'??sh. k-abs bent aswellasbeing'?sh. d-w. ..fing.And I don'twantjusta 'zasta d pair- myfriendswouldjustlaughat me No, theyhaveto be reallyz5styl - i. fact t woLd be gooorf treywerea i5 'n' eo edit'on 99

3 easyto remember Now do the tame {or the wods in 'Brands:aims. advantagesand strategies'opposite. 4 changefrornonethingto another 21.2 ComDlete the definitionswith the words in the box. associatian awarcness equity inage leader loyalry nanaget stedling

I brand /4agq ......= the ideasandbeliefrthat peoplehaveabouta brand = a person 2 brand who is rnchargeof developing andseling a b.and = the brandthathasthe largest 3 brandnumberof saesin ts productcategory = the supportthat peoplegive 4 brandto a brandbycontinuing to to buyit r.therthanchanging otherbrands = thevalueof the brandon the 5 brand--...-.. .--, balance sheetof the company = usinga successful 6 brand...... ... brandname to seLnewtypesof prodlcts 7 brand .-. .--..........- = whatpeople thinkof when theyseeor hearihe nameof a brand 8 brand- --.---................ ... = the degreetowhichpeople Knowabouta brand 21.3 Finda 'brand ..,' phrasefrom the previousexercise with a similarmeaningtol 1 brandr-ccognition

2 brandexiension 21.4 Writ€ eachword in the box next to the word in italicswith the closestmeaning. ben-selling econony exdusive fawuite leading luxury traditional upnarket upscale vlue-for money wefknown

3 brand

phonefor myttudy I wanta 55 fd lik€to geta cordless r e a l l y 7 ' ur t yone.wt-ar3l g-a igbar€y. I wlll prcbably addmorehandsets later,so it haslo be good able, and it would be to havea "erp soone-t ch speakerphone in the baselor when 'm workLng )9 at my desk. 21.6 Matchproducts1-4 with their packaginga-d, The underlinedvo
salesandmarketins 47

Distribution (place) 'Place'is the secondof'the four Ps' cxstomelsmust be able to obtain the product easily and conveniently. This depends on the djstribution chamel.

Retailing There are a varietv of retaii fomais:

Distribution channels There are ihree broad categories of companies lnvolved in dishibution: Resellers(calleddistrjbutorsor dealersin som. rnarkets)who purchaseproducis and sell them to others.Thereare various types of!6eller: a retailer (who sellsdirectly to the final consufrer), a wholesaler(whobrys from a meufacturer and sellsio a retailer)and an industrial distributor (in the B2Bmarkei). ,l Intermedi.rjes(eg .gents and blokert who don t aciuaily purchaseihe product.Thcy bring suppliers and buyers togelherjn exchanSefo. a fee. .1 I-ogisticscompanies.Seeunit 15.

(An E Mon-and- Pop state)

CHICKIN

'{tilt,,t aashand Grry (AnE Watehoue

Another option is di.eci diskibution, whcre thereare no resellersand the manufacturerscllsdi.ectly to the end rser Exampleshere include: , Direcl marke$rg: the cusio'nerplices an order by visiting the company'swebsite,or ordering from a catalogue(AmE catalog),orb]' dialling a toll-frec ielephonenumber. rr Direct reinil:where a companyoperaiesits o&n retailoudets (eg H&M, Zara,Applc). r Personalsellingrthosecases,common in B2B, wh€re the salesperson aciually takcsthc order and arrangesdelive.y.

€'+

d'-

lJ:!

E

E.,a;----€;^-

Coveragei mass, selective or exclusive? Largecompanieswant masscoverage,buionly a very few can rca.h all potcniialcusiomers$'ith their dis[ibuiion .hamels. lt is simply unrea]ishcin terms of cosi.Agood exanple of a companythat ieally ce make its produ.ts availableelerlar'hereis Coca Cola. \lore.. Y o u c i - I i n J , r ' n > u p e - m , r - k e .ro\ .n v c r i F n c e vending machjnes,restalrants,hotcls,etc.Most .ompAnieshave to settlefor selectivecoverage,wtth lewer locations and a more fo.used iarget maiket. A ' e r . o m p d n i c "- t h o . Fh r l h h i g h - c n dp ' . d u . l . - choose exclusivc coverage. Here the product is only availableat seleciedlocaiions,perhapsintemational airportsmd a fea'siores in fashionableshopping l o . o n p p \ r . n t t h el n t e n e r h d . g i \ e n d l l c o m p m i e ihe potential to reach a mass market. Ho{'evet this isn't as easyas it appeas, becausethev stil hale to fighi a) io distinglish themselves from other webbased firms and b) for visibility by having good search enghe opiimization so that their nde appears high up the search results.

48

Retailingis highly competiiive.The following facus can all conbib(ie to slccessor failure: r' Abiliiv to identify what producis .ustomerswant. ',1 Layout and atmosphere(cg light, sound,decor). ' Productpresentaiioninside the store(nerchandising). ' O r e r i l l c u - l ^ m p .$ r t f J { r o n w i t h t h es h u p p i n gr \ P p - i . n c ' Building 'traffic' thJoughadlertising. r Keepjngpaces'ith technoloSy:logishcs,databasesof cusioner buving behaeiour,imtore technologyat ihe check-out,etc.

Channel power Thiss a key ssue. Whohasthe powerin the d nr buton channelT pow€r has Product Thisiswhena brand a hiqhlevelof demand hasio nock i, regardless of the con to them. andth€ retailer buysa largequantity wholesal€power:Thisiswhena wholesaler at low con, andcanthenmakea largemark-upwhentheyrese to small,powerless retailers. frommany Retailpower:Thisiswhenthe retailefcanchoose suppliels andso drivesdownthe prceit paysto them.

(PLACE) 22 DIsTRTBUTION

Exercises 22.1 Find a word in the text opposite that matches each definition below. The words aoDearin order. 1 moneythat you payfof a sefvice

places 2 ftlvowords.) whercproducts ar€sod 3 (trvowords)\\hen a argepercentaqe oi peoplearereached by a disiributionchann€l

4 (phrasalverb) a(epr samethlng that isnr exactly whatyou s the way in which lomethinq s arranqed 6 r h e . \ 1 " o ' d F . o r a l o - a n d f . r , l L ' p n a b L L d iS

7 (threewordl (han}n9 asfastassomething else Now do the ramelor th€ words in'Channelpower' a @hrasalverb) $et aglessivetactcslo makepicesf.Ll 22.2 Matcheachdescriptionbelow to one of the retail formatsin rhe list opposite. 1 Sma nore,goodlocation, but opent ate,fastch€ckoul, llmitedrangeandexpenrlve 2 A sma, prvately'own€d, fam y-rLrn store- oftenin a oc. neighbourhood 3 Onlne'ony retaiersuchasAm.zor] (egsports 4 Largestorecarrying lLl'toneproductcategory lood Emphasis ison value-foFmoneyi mainly origlnaly reia ng but increasingLy movingnto otherareaslike crornrng Similar io a s!permarket, butwith a grcatervanetyof products, betterquallty, h gherpicesandbettersetuce eves Requir-6s buyers to makelargep!rchases; lmitedproduct s€lecton;mayrenrictentryio ihe gefera pub c g vesp€rmission A company for someone to usetheirbrand name,products, eic in exchange lor partol the proiits

22.4 Readthe text about technologyin retailingthen answ€rth€ questionsbelow. Technology is changingthe lace oi retailng.Herearejust someof the newdeveopments: Electronic slgnageA smallLCDscreencan beincorporated inloa tag hanginglromtheanerchandise, or intoa stand-up sign posilionednearit. The displayshowsprce, pfoduct prornolions, information, etc. Sott securitytags A' Fe, lror'. Lrypildrc- lag s incorporated into a garmentat the po nt ot manulacture fhese tags are iexible and papef thin.A deviceat lhe poinlol-sae(POS)automatically deaclvatesthe tag. Selt-scanningShoppersuse a hand-heldscannerlhat rcads lhe bar codes on itemslhey buy.They can pay automatica ly with the sarnedeviceand have a special exp.esslaneal thecheckoul VlrlualshowroomsCustomers viewcomplterzed mages haslhe ot roominteriorsand furnishingsThe technology polenlial be d sp ayed to oflerthousands olitemsthatcannot ofthe on theretaillloorAlso,it canreplicale lhe dimensions cuslomer's ownkitchen,balhroom, etc and showhowlhey wouldlookwilhthe plannedadditions. can rl1x Customers aodmatchcolours,stylesandpatterns. Finda word in the text that meani: I fforma,the useof signs 2 asmaLabel 3 ffolDa, thingsfor salein a 4 fforma,a pieceof clothnq 5 a m.chrneor roolthatdoes. specralob 6 pacewnereyo'rpayIn . srore 1 thingrin . roomslrch.s furnitLrre, carpets andcurtains

8 ffiree words)put thinqstogetherin d ll€reniways See page 148 tor some discussiontopics.

22.3 A store buy3sornethinglor €10and .ells it for €15.Fillin the gapswith one of thesewords:mrrg,in, 1 The s 50o/oThe cosrpri.e (€10)i5 increased by a haf (€5)to decde the se nq pdce(€15). The . ls 33%.Theprofit(€5) s a thid o1 the sel nq price(€15)

5a!e5and marketing 49

@

Promotion

The aims of promotion 'Promotion', ihe third of ihe four I's of markering,can ha\e a varietl of differenraims.lrs classicairN are: To build awarenessof anew ptuduct. To.einfo.c. a brand. To stitrulai€ demand,ciiher b), getrhg nei! customers to try a p.odud {eg frcc sample,f'ee triat),orby getting existinlicustomersto but tsutpronoiion can {
Promotional activities

Public ielations (PR) This has larious frmctions: Monitoring ihe medja fd any col-erageof rhe company, and malntainin[iconhcts $,ith peoplein the medra (eg issuingnews.elcasesas part of a presskit). Keepingin coniactrvith customersand / or employees th.ough companvn.lvsleiters,in,houseblolls, etc. Crisismanagement$'h€n sonlethinBhappensthat thrcatensthe conpanv image. Orgadzing specinleventstu buil.l both b.and awareness and biand lovalty.Elents might inchde p.rries, prcduct dcmonstrations,stunts,setrinarc,etc olten ln unuslal Builclinggood'vill thlough cohnunity progranlsand

T h e r c . r cf o u r n . n r i v p e so f p r o n o t i o n a l a c t i \ i i i , :

Other targets of promotion This ircludes thc ahole !arictv of nedia ouilers:tclc\isior. r.dio, print (g ncwsparrcrs,m.gazires), lnte.ncr (ic $,cband cnliil), dire.t niijl, outdoor (cg trilllurrds, buscs),ir oor k'g ijfports, nl slorc),product placement,nlobile dcriccs and l-argcconrpnf0s rnrcly h.ndlL thcir oi{n id\.rtising, thet !nr.rllv usc thc sc,vi..s of rn idvcrising igon.v perhaps !snrg diffc..nl igcncics f(r diffLreni p(xluct tnrs

Who does what in an

advertisingagency?

Trendsin

Account managel:

advertising

works with the client to devetopthe strategtr

Changing media choices:

Creative team:

ceilphonescreens,sociainetworkingsites Podcasting (audio and video).

generateideas and take the initial concept through to the final advertisement Market researchers:

Digital convergence:

assesst}le clent s market situation and test creahve ideas.

everlllrng w . coMect to the networ\ \rot jusr computerstelevisionsand celiphones, but also wallets,fridgesand cars).

Media planners:

Auclience monitoring:

actually place the ads in the various media and negotiate deals with them.

tracking ajrd measuring how consumers respond to advertisementsis becoming easier and more lmponant.

Salesp.omotion6 Thisincludescoupons, specialoiiers,conresrs, tovaliv

Thiscanbeeitherfa.e to faceor via thetetephone. See unit 18.

50

! i n a 1 h ,i t ' s i m p o r L r nttu . c m c m b e rt h a tc u s i o m e r s . r e n t ihe only targetof promotion.Other iarSctsof a marketing nressigcmighi bc news nr.dia, spccialintcrcsrgrdlps (cg enrircnmenLrlorEanizations), opinnn Iorm.rs (.9 do.(rs tor thc phffma.cuti..l n !nry), tfad. n s s o c r . t n h sf a, r t n e r si n t h c d i s i r i t r ! t i o nc h ; , n n c l (.9 retarle.s),iny.skrs,etupl()yces,.i..,\n oircn ovcrlooktd a.ca is ih. imFortin.. of in housepn)m,tnn (\plihinB i ncs pRrfuct kr ihe snl.s f{)rcc.rndmoti!iring thrd k) sctl il.

GPS in personal mobile devices: this allowsousinessesto push larqetedlocation specific ads (eg restaurants.bars, specialist shops).

23 PROMOTION

Exercises 23.1 Finda word in the text oppositethat matcheseach d€finitionb€low Thewords app€arin order. 1 largeboards for advertisemenh n an outsldepubhcplace (BrEhoardinqs) 2 providng moneyfor a specal ev€nlor a sportsteam n orderlo advertse a brandname 3 newsabolt som€thng on the l€levison,on the radio,or n r e s o . o e r g. 1 d 1 d g d r ter . 4 (1:tuo wads) nforrnationgivento repoarers that contdins new5p u5 supportingmat€ral(€g backgroundiniormatron, 5 s y or lnLrsuathingsth.t are done to 9€t pub c attentron

6 (fortra,kindf€eingstowardsd p€rsonor orgdnization 7 the practice of 9 v ng noneyandhep 1opeopewho ar€ pooror n vouDr,o 8 a situatonin wh ch th ngsgraduay becom€ verysirnar 9 fo owingthe deveopment or progrers ol someone or somethng 10 a system thatusesrado signa s fromsatelestoshowan exactpostonon theEarlh 23.2 Makephras€sby mat(hingah item from each 1buid--\ 2 nimulai€ \ 3 take \ 4 p ace 5 ssle

23.3 Underlinethe verbsthat makesensein the 1 Theagencycanjed/p/acedI published / put I ran/ toakout an.d namagazrne. (5 conecranswers) 2 Themagazlne carfled/plaGd / published lput / ran/ (3 corc.r answers) 23.4 Th€ itemsin the box ar€ all methodsot sales promotion.Mat
n contactwilh cuslom€rs demandby ofleringa lree tral awareness or. new prooucr how consume6respondto a n i n t i a c o n c e ptth r o u g hr o t h e l i n a l iargetedads to a mobrledevce

.n

lN

lG^

8 wherea celebnty appears tn orderto generate sornewhere 9 usinqan oder productaspa(-erchanqe for a newproduct 23.5 Studythe tabl€ below carefully.Thenlabeleach column1-4 with one of th€5etyp€sof promotional aclivity:advertising,peEonalselling,salesprcmottons, Pa (mediacoverag€suchas stori€sabout the companyor reporti on sp€cialev€nts). Of (oursethere may b€ €xceptions!

2

1

c.9e@o

Paymentmodel

paid

aqqrn9r

'lagging = developihg hate slorrly

o.e way

two wry

non pard

pard

no. personal

p€6oia

agqrng

quc(

poor

veryqooo

hgh

m e du m

h 9 h ( b e c a u s e . opnad )

hgh

'- ctedibili\ = the qLatty af being belieled and rtusted

seepage148for.ome discussion topics.

S a l e ia n d m a r k e t i n g 5 l

Price The importance of price 'Price'is the last

of,the four Ps'ofma.keting, and is probablv the one thatmarkete.stall leasiabout.It doesn't seemlike an ex.itingpart of thejob jn facta product's prlce mighi simplybe generatedb! a spreadsheet. But decisioN about price are importani formany re6sons: Prl.e is the tuost flexible.nd idjustable part of the ma.keting mix it can be changcdrery rapidly (unlike, sa)rprodrct or disf.ibutnrndccisions) ,, Pricing decisionsare critical for rcyenue:set a price too 1owand lou triss out on profits, sci it too high and lot losesaleslnd trarkei share. Priceis importrni fo. fnst ifrpressbns:a cusiomermav not considerthe whole productofferint if they hale.lismissed . l i r i r i . ' l l \ b . c . " , , Hr ' l l L / p r i c <,. q u r l \ i h . \ h . r i , p m J \ - . i r ,(tuality and enco!ragethe cl,sbfrer t(r takein interesi. Pri.e is an important pa,t ofsalcs Fonlotions. Seeuit 23. So,wlrnt are ihe facn)rsthat hare b be i.ken in(, considerationwhcn sctting a p,icc? Sonreimforiant ones are describedbeiow

Internal fadors that affect pri
md marketing the produci) Bui this return may noi be imporiant -for examplewith a nes prodrct that isn't yet esiablished- as long as revenueat leastcoversihe costs. Markct share:. price may be set artificially low in orclerto gain a hoLdin a new nark.i, or $'h€r€therc is a pnce war Consisiencywith narkcting siraiegy:if thc company's o\e..llshate8v is to posiiion itselfat the hig]1end of the harket (and cmphasizcnon-plic. benefiislikc quality, sen ice,etc),ihcn p.ice aill be kept high.

External factors that affect price Elashcityofclcmandrin an clasticnark€t, a small chanije in price resultsin . big changcin dcman.l. ln an nlel.sti. market,a shallchange in p.ice hasliitLcinipact on demand.The trick is io find the particularprice level at iyhich prcfits (r other objectives)a.e marimized. Crsbmer e\pectations:renlembc.that 'custumers'here also includesdistribLrtionpa.hrc6 thcyle often the ones ilho set the finalpricc that the cnd uscf pays. Competii(rs'prcducts:cvc.y companyhas kr watch whnt competi(rs arc ch.rgint. Thc mafkct lcallcr oiten i;ets . r . C l *i r j m . , , I L rr .1 d r l ' ( ) , c u { L , l l y . , 1 'rl u ( chir;, i

I ' r ) f i l a b i l i t yn: c o m p i n yl s u i l l y r e q u i r e a s mrnrmum r c l u m o n i l s n r r c s t n r . n(i i c i h . t o t a l c o * so f m a k i n g

Setting a pri
4 : r' , r i l h e r e q o . r rr o b e a p r o h o l . n l f 50 nre f.lotr' n! rre a opr o.r lVa.kdown:offer a ower pr..

,:i .rt,it..r.j.,1i!:: I a rr : r . r,/r'haI5 o!r nra'[.r po5i onr L]ow. {a.t.ror i or m.ilcl5hir.)

: 2 : . : r .- i i r i : r r i i n i i i n i t r i { . 5dni..r a L.lllreio our.! ma!

FreeFrodlct t(o forIh. pri.e 5aes promori.n .o!pon5, olrlry prolGms er. B!nd e pri. n9 ollersevera d fferentprod!.15aI lhe !rme

Sa.kirardpr. nq (= rhal the mark.I 5 ri .q to pall P 5 y . h o o ! i . ap r . . 9 l e g t u s l bcowa,o!.d.!mb-{) F r o d l c t n e p r . n g ( e d s tn . t pri.e po n6 for d ffeientmod--ls

L o $ e a d e rs e b e o w . o n r o attra.t .lnomer trarT. n a nore

C o m p e l I v eo r . n q ( t a kn q i n l oa . . o u n I t h € c o m p e u t o r s

3 r: i:r.:. 1.:,r..fi.ti:! 5omeor; oirhefolofr ng.eed ro b€fixed: s p . . a r e o i e . r d r o u . I ( e 9r u c e . a l pricn9 1e9.e.alseot Ceog.aphl.n | o.a r,i._osiafdari5i. diif€re.ce5

5_2

24 PRICE

Exercises 24.1 Finda word in the t€xt oppositethat matcheseach definitionbelow The wordsappearin order. 2 income;tlrnover 3 (phnsalverb)osean opporlunty to do or havesomething

24.4 MatchEIg verb from ea
workoLrt pu1up setlleon brnq down oelerrnrne

establish .rriveat /7_

r gureour

is enouqhto payfor 5 fhree words)obtan rontro or power doing thingsin the sdmeway cever and efiectiveway of dolng something (threewatds) askIot an additonal amouft oi mon€y,abovethe standa.damount

24.5 Write each word in the box next to the word in italics with the closest meaning. attractive bargain budget exarbiEnt fai inflated list

excessive rcasanable

Now do the samefor the words in 'Setlinga price' (iethe percentage 9 an ncrease ln the priceol something by wLr.Llh". orrp.(e s (reasedr l0 afLro r ord, nLmbFr "^drrg n0 11 a groupof prcducts th.t arep.ckagedtogetherandsold l2 th ngsthatencourage youto workh.rdernart a new 24.2 Make phrasesby matchingan item trom each 1 lose------\ 2 take 3 rcquire

6 poslton 7 set 8 sell

--\

a m nimumrelurnon yolr nvestrnent saesandmarkeishare the costswth saesrevenue iactorsnto consderalion several yoLr6elf at the h gh endof the m.rket belowcostto attractcustorner iratfc a holdin a newmarket the linalprlcethatthe endlser pays

24.3 R€adthis short explanationof dis(ounGand underlinethe (orrectwords in italics. 1 A Nanpt / prapetpaymeftdiscolntis qivenro helpwith - any A quanttyd scount encour.ges. arqerpurchase economies ot volume/ scaleGr 6e passed aver/ passed on to the finalcustomer Tradediscounts arefor partners in the disrdbuiion Se.sonal d scounts aregivenduinq dack/ /ooseperiods of theyeator duringthelanuarypronotions/ sales.

24.6 Complete what a marketing manager says about prices with the verbs in the box. agteed to dtop frceze held down natched reeivedcanplalntsabout rc-thought set unde.cut werc forced ta 'alse

thouqhl was a r€asonable leve. Thenour cortsstarledto

we could,blt eventually we r

ourpnces Toras ongas them th€ newprcesfron'rour

lmmediatelywe 4 custome.s.Theyiold !s ihat o!r pricesweren't comp€tliveany r o , e u p t o h d rp o 1 r w p d a o w i ) < o - r c o m p F l r r o .pt r , " . . o r " v e ns l ' c r l y 6 thern. But no more.We \,1/ere in danqerof losingcustomers, so we 7 our whoe prcing strategy.

We coudn t afiordto 3

down to ihe prevousleve, and anyv/aythis wouid have lookedvery bad n the mdrket. nnead,w€ anno!ncedthat we would e the new pricesfor tweve months,to give somestability.Neary alloLrrcustom€ls 'o th s, a though theywerent happy. See page 148 for some dis(ussion topics.

Salesand mark€ting 53

Marketing management Understahdinga business Market€rsmust first have a detailedanderstandingof iheir businessin order to developiheir marketing strategies. This is often done using a '5Cs' analysis: ' Customeranalysis:ihis ini-olvesbreakingdoryn the market inio scgmcnis.Seeunii 20. i Conpany analysis:malketersneed to understdd their company'scosi struciure,lookathorv profih are generatedfrom differentprodrct lines and different clstome. accounts,and identify corecompetencies h ihe

changingprice points, or moving displayswithin a siore. Websites also offer mdv opportunities for collecting daia clstomcrs' bchaviour on a site can be easilytracked. r' Qualitative rcsearch:the compmymay carry out individual intefriews, or f(ns groups. A modern tdnique is io use observaiional resedch where cusiomers are watch€d in a naturil settingas ihcv shopor useproducisat home. 1 S€€ondarvrcscarch:data can be colle.tedfrom olher sourcessuchas consuliing firms, trade dssociahons, nagazinc articles,gorernmeni statisfics,etc. ri Tesi markciing: this involveskying ortnew productsm

ir Collaboiatoranalysis:ihismeansprodu.ing. profilc ofall the channelpalhcrs (eg suppliers,distributors). 'i Competitd analysisrmarkeiersbuild profilesot each competiktt focusiig on their relaiile sirengthsand

Developing a marketing strategy

ia Contextanalvsis:as wcllas theeconomicandsdi.lconicxt, this includcsihings llke poientialihreaisin the indusiry (cg substitutcproducts,new entrants)and ako the changnlgbnrgainingpower of suppliers.nd customers.

Oncc a companyhas done the kind of rcsea.choutlnled in the two secilonsabove,it's in a bettcf positiorlto understand its cusiomerbaseand its conpehtivc position in the indrstry. Marketing managersare then abLeto dcvclop a strategy.Thls I Identifying new markctsand gapsin ihc mafket. , DevelopinSnes, prcductsand idcntifying thcir dcsired

Market research In order to collcctall this daia, jt's neccssaryto do market rcsearch.A varicty of tcchriqucs arc uscd: Quantitativeresearch:thc most cofrmon rescarch()olhere is a survey ihat capturesinformation nith a questionnairc. hrf(rmatnnrcan also comc fron doing smill scalc exprrimentssuchas looking at the effecion salcs()1

'', Dev€lopingthe company'scompctitivcndlanLl8es. I MaximizinSrevenu.san.1prcfits. ' C i i n i n g m a r k e is h a r d . The secondof these,new product dcvelopmcni,willgo through a prcc$s that inchrdcssomc or all of ihc st.gcs in

New product development 7 :.:.,lrj,.i;,riz;r,ji, lhc d sfiblto..ha.nek a r et l e d w I h d r e p r o d ! . t

2 i r i € di . r e . i r i j r !

.u{omets, comperro6,

Markelenhale toask 5omebas. qlenio.r toscreenrh€ in r alid€as, eq rlo,r,, L clnome6 benefir?s r r e c h n c a l yf , " a s i bteo m a k e ?D o e 5 ths earydeaook le tw lbe

a o.are resolr.esandpan en!ineer.9 operarion5

3 C.n.!Ft.b!elo,jnerr AIth5 sraqemarkeretr.eed ro rhink n mlch qr.arerderai abourihe.oncepl, e9 w l r o e r a . t y s r h e t a r l e tm a r k e r l' H o w w I ii fir wirh othere! {n9 prod!.rsl

5 t€tn t.5rii:g ir. irir nci t.!iiil At this point the companyprodu.esa prototypeand tens the prod!ft n !5e Markererswllhod lo.!s qrolps Adjlnmenrs wi be madeon rhe bA5 ofth-'seiesis,anda more lfa ve6 on olfie p.odlci m q h t b e s o dl n a test market.

4 r ' r! i r 1 . i : : : r : j : s Heremarkeler work.loseiy wirh .o leaqlesfiom sales and tinanceto t.y to estimale rhe li[ely 5e i.g Pri.e,5ales voLumeproiirabiity and

Markete6worl w th otherco eaqles to seelt thereareanyprod!ction 5sues Somei.forma teni can bedone by 5lmpiyaskng prospective clnomers w h a lr h e yI h n k a b o u i rne..ncepr

25 MARKETINGMANAGEMENT

Exercises 25.1 Finda word in the text oppositethat matcheseach definitionbelow.Thewords appearin order. 1 (fl.vowords)thingsthat a company cando we, 2 th ngsthdtcoud causedamageor harm 3 setof questons thatyouaska larqenumberof peoplein orderto f nd out theirop nions 4 a writtenlistof ques|ons 5 r€latingto th ngsthatcannoteasilybe measured wrth numbers suchasop nionsor attitldes (fl.vowordi) smallgroupsof peoplewho a€ askedto discussand give the r opinionsabout. particularsubject

7 (1x\/owords)thingt I6aI helpa companybe mor€ successfulthan others Now do the samefor the words in'New product development'opposite. I checkng sorneth ng to seeif itb suitable to takefoNard to the nextstage. . . 9 fnr'lowords)tirnewhena productearnsjustenough moneyto payfor itscosts 10 fnro word5)testingsomethn9 by givng it to a few customers io try sothatanyprobemswill be tound _ew I ' 'irsrdeqg' o' so.rletlrng 12 decideio urea particllaramountof time,money,etcfor a parlrcurar purpose 25.2 Make phrasesby matchingan item from each lcost,---r\ 3 4 5 6

coTe \ b.rg.ning quanttative locus

9roup

8 competitVe iest 1l beta 12 technca

advantage polnt

25.3 use phrasesfrom exercise25.2to completethe sent€nces below.The Dhrases are not in order. 1 Theirlocaton gaveth€m a huge

2 A supplier of specializ€d components hasnrong Theydecided to sellsomesmalbusine5s unitsandlustfocus Afterthe initialidea5havebeenscreened, we moveto the where we stage th nk aboutthe productin muchgreaterdetail. Theadvertising agencyhaveprodr.rced somenewideas tor outdoorposte6. wantto showthemto the n€xt .. andse€whatpeopesay. Bythetimethe newprcductgeisto the \'aoF .hp n arl.F.ea h.ra done rheir

job andthe op€rations peopetakeover 25.4 One word or phrasefrom eachgroup in italicsdoes lEt makesense.Crcssit out, I We are up agarnsfcane up against.loa\ totualcJsfacea lot oi competition, gain,prcnote,stinulate 2 Thislegislatio. willencourage, 3 We'redo ng our bestto
see page149for som€discussion topi6.

salesand marketing 55

Income statement Theincomestai€ment (profitandlossaccount/'the P&L) is oneof a compay's threemajoifinancialstatements. (Seeunits27and28.)lt neasuresa conpany'sfinancial performanceover a fiscalquariei or a fiscalyear In sul]mai)tit shows:Revenuc minusExpeNes= Profit.A fullerversionis giren in theboxandthenexplained beloa'.

Costoi saes SG&A prcfit Aperating + Noftoperatng profit EBlTDA

- Deprecaton

EBITDA EB1TDA stands for 'eamings before interest, tax, dcpreciatiorl and amortjzation'. or1 the P&L rve subtract thc I, T, D and A Interest(paid to the bank for any loans) Iax (paid to the government) DeP.eciaiion(= the gradual lossin valuc of tnngibleasse$, eg vetucles,nachlnery) Anrortization(= the loss in value of inidgiblc asscts, eg patcnts,copvriShis)

Net profit after tax / retained profit The figure that rcmainsis the nei profit afier tax (= net income/'the bottom linc'). To completethe P&Lwe then subtractdi!idends (paid io shareholders), leaving finally the retainedprofit (= .cscnes/ret.rinede.rnings) ihat is reinlested in the busincss.

Budget report Netproft aftertax - D v dends Betainedprat'it

What is revenue? I{evcDrc(= turnolu)js ihe nroDeyihal comesinto ihe company from thc salc of productsor scrvicts.This figure is retrncd io is 'thc top lirre'becauseof whcr. it appca!son thf l)&1.'Top linc growth'refers io sal.s growlh.

Fi8uresfor ihc real lifc rcvcnuc,costs.nd profiis will bc different from the budgctcd (- planned/forecast)figurcs. This analysisis piesentedto managcrsin a buclgctlcport. ln its simplestform ihis repo.t has thc first fnc lincs of the I)&L in the box opposite,with threecolumnsshowing 1) thc n c t u i l r c s u l t s , 2t)h e b u d g c t c dr c s ! l t sa n d 3 ) t h c v a r i i l n c e (= differenc. b.twe.n ihe two). Variancescan be favourablcor unfavourablc,ancl inclivid!.1 managersmay sc. this infofmition tof onlv thci. own product linesor geographicalarca.

What are expenses? Expenses(=.osts) ref.rs to money ihat the companvhrs to r p ' _ ' l r o r u n l l ' e b u . i n e \ \ ' l h i . c r n b e b r o l e nJ o w a , n n . r - y ways, but a basicdistinctionis beiween: '/t Cost ofsales (costofgoods sold/COGS):this refe.sto the cosi ofacbally makilg the produci, for elample naierials cosisand labour coslsin the facioryr 'r, Selling,genemland administiativeerpenses(SG&A/ oPeratingexpcnses/overheads)r this refersto marketing costssuch as advcrtising,officesalaries,rent, telephone,

What is profit? Profit (= earnings)hastwo components l Opcnting profit (from regularbusinessa.tivities). I Non-operating profii (eg toom ihe sale of some lmd or shares in another compmy).

what causesvatlance? causes of a change in revenue A changernsalesvo ume. A changein lhe profit marginon eachitemldueto h ghef/ owerselingprices)

Causesof a changein costs A resultof a changen salesvo ume(ie t srmplycosts moreto prooucemore) A changebecause moreis be ng spentto achieve each €1 of sales(iea genLrne ncrease in costs- a decrease in productiv ty)

Causes of a changein profit A compex nterplayof the changesin revenueand (o5t5 -ctud rq rh" difla."r vo$ oJ 5 :o: The budget ieport allows mmagers to seewhere the uexpected changes are, and which chmges are the most siSniJicdi. The reasons for any varimce cd be identiJied dd dv code€tive aciion ial
56

25 INCOMESTATEMENT

Exercises 25.1 Und€rlinethe correc word5in it.lics. I Thet€rm'turnovelmeans / proflt the sameasrevenue 2 Theterm'earnngs'means the s.me.s revenue / prolit 3 Th€term 'overheadsrele5 to the directcostsof naking products/ the indied.asts af sellinga produd antl running 4 Thewagesof factoryworkersandrhesalaresof ofiice workersareshownrn the sane place/ in different places 5 A company buysthe patenton . pieceof a t€chnology for patent yea6 The lasts for l5 is rccoded $30m. 50 $2m eachyearastan amodrzatlon / depreciatlo, exppnse. 6 Thewordwhichmeans'betoreoih€rih ngsaretakendway' ls9ro5s/net. t canreferto prcft, salary or weight. 26.2 Completethe P&Lwith the words in the box.

I

EBlf

Dlvidends Castaf gnodssold

lncane taxes

SG&A Deprec alionandamortzaton Totaoperatng expenses Operatingpro{it p.ofit Non-operating

Earningsbeforeincometaxe5 Net profit after tax Retained profit

7 (tuvawods) ptopenylhatyouown whichcanbe physically ro!cne0 3 thewayin whichtlvo or morethingsdifecteachother 26.4 crossoutlhe ilem whi(h ha. a different meaning ro bring in, earn,generate,iryest makea proft ro boast,plough back,rcinvestptofits. jeopardize,put at sk ptalits ra quarantee, ta incu, make offset,run up, suffet a as\. a big, considerable, fat, handsane,healthy,huge, satisfactory substantiaI prclir. 6 a / an interin, nadest, slight, srr,allptof 1

1 2 3 4 5

25.s till in the misiing letters. 1 lf a profitis biggerthananyprevious proiit,it! a rec d proft. lf a proiilisfa r andreasonable, itt a leg ate

Profit and loss account Operatingrevenues Netsal-as Operatin9expenses

25.3 Finda word in the text or box opposit€that matdes ea(hdefinitionbelow.Thewordsaooearin order. I related to oovernrnent tdxesdndso€ndino

t't0,219

$4,155 $480 (58,607) tl,6't2 $65 11,677 \5/2) t1,505 ($514) 51,091 ($710) 9381

lCornparethe P&Labovewiih ihe one opposileYo! w I nori.e Ithal thereareone or two dtlerenlwofds,anda slighnydlflerent order(parricu a y for 'depre.ationand amorti2aton'). Thisis ld." berate,and is desgnedto showthe varaiionthat s poseible lin the layoutof a P&1. I Notce a so howfiguresto be sublracted arcshownwith a

2 Someitemswhichresut in a proiit(or oss)arenot - likethe saleof a subsidrary norm.lyrepeated company, or theeffectsof a natlra d sasterThesearecalled 'exlrao nary'or'exc iona' tems, ! lf a company is makng a loss,we cansaythatits 'in it w ll qo bank t (= go into the d'. EventLrally, liqu on) lf a company accepts thatit cannotget backmoneyi has lon, thenil wr 9 o the loss. Toexpress opposite variance, the of.'favor.rfable accountanrs oftensay.n 'adve e varance' 6 lt somegood!aresold(ora seryceis delivered) n ihe m ddleof December, blt the customef on y paysin the m ddleof Janu.rythenthisis recorded in the ncom€ staiement lor the e.rlierol therwo yea6.Thisfundamental p. nclpleis refeffed to a5'theacc al bassof account ng'. see page149for

n LJ

aJtu 1;am a'nting, 'n Tuo

"d

h'a i'four dqain." company finance

57

sheet The balance shei (BS)is mothei finmcial statement ihat cornPanieshave io produce as part of then accouts. (Se also uniis 26 and 28.) The BSappLiesio a single point in rime, and gives a pictue of everlthin8 ihai a compoy owns (= its assets)and everyihing that it owes (= iis liabilities). Thebasicequalionofthe BSis: Assets= Liabilitiesplus Shareholders' Equiry A tuller velsion is given in the bor and ihen explainedbelox'.

Curr€ntassets Cash

Long-termassets ntangbleassets

Current liabilities Bankdebt Lab itiesior tax Short-termprovisons Long-term liabilitie5 B a n ko a n 5 Bondspayabe Shareholden'equity

Assets Current assetsare thosethat can bc iurned into cashquickly. Thcy include cashat thebank, accountsreceivable(ie money owed by cusiomers)and inventorics(ie unsold stock).

Long term assetsare those lhat cmot be imed into cash quickly. They include fixed asseis (eg plani dd machinery, land and buildings, motor vehicles),intangibleasseis (eg copyrights, patents, goodwill acquired from other compmies)and financialassets(eg investmentsin other

Liabilities Curreni liabilitiesaie thosethat hive to be paid within the next year They inclDdebank debt,accountspayable (ie money owed to suppliersand utility bills), liabiliiies for cureni tax and provisions(ie money set asidefoi a pariicular pulpose,eg bad debtsor a couri rulinS). LonS-tcrmliabilitiesilclude bank loans(includinSany frortgage)and mon€y orving to bondholders.(Thc principal has to bc paid back at the maiurity of the bond.) Shareholders'equity startedas ihe capitaLoriginally invested to begin the business,and now ii has grown through a) rcinvcstedprofits and b) any additional sharesihat hale beenissued.Think of it like this: imaginethat the business had to stop,and all the assetswere sold and this moncy lsed to pay offallthc liabilities.What would happcn to the remainingpart?Thc answer is thai it would bo reh'rned to the shareholders it belongsto them. lt is their €qlily (capital).

Wlratcana balance sheetshow? Liquidity Liquidly is the degreelo whichan asselcan be conve(edto cashquickly. Thisis oflenmeasured by us ng the currenirat o', which is cureri assels dividedby currenttabilities A h gh currentralio meansthatoverthe lofgertermlhereare p enlyol assetslo converllnlo cashio pay the debts. A moreshori{ermmeasure of lquidityis'workng capla e currentassercninus cuffentliabilities

(levelof debt) Leverage n everyday languageeveragels lhe useol borro\aedmoney(e debt)to lry to increaseprofits n accouniants'language, leverages a measure of how far a companyis lundedby Loans(eg banks and bonds)ratherthanils owncapita.On a BS leverageis def ned as /ong tem liabilitiesdividedby sharehalders equity. A highly everagedcompanyhastakenon a lot of debt Butihls isn'iawaysbad:borrowing funds wiselyto expanda growingbls nessis qood newsior

58

Bookvalue 'Bookva ue is a company s networlh(ie itsf nancia value what s lefl on the books- if il wentoul of busness).ll s an everyday termwth lhe same meanng as shareho ders equty So bookvalue equalsloial asselsm/rus tatalliabilities Anyonebuyingsharesln a companyis buyng a share in lhe bookvalue,plusa sharein anyfuturegrowth.

Profitability Thereare severalcomr.onmeasuresoJprofitablty but oneol thecommonest ls Beturnon Equty (ROE). Returnon Equityeq!als ,'et pratl aftertax dividedby shatehalderc'equity. ROEshowshowmuchprolita companygeneraies in relationto its bookvalue.

27 BALANCESHEET

Exercises 27.5 Theverbsin th€ box canall be usedwith 'assets'. Dividethem into three groups,bas€don thek meanings.

27.1 Fill in the missingletters. 1 Assets areth ngsthatyouow . 2 Lab itiesar€th ngsthatyouow . 27.2 Finda word in the text oppoiite that matches€ach definitionbelow.Thewordsappearin order. 'l owes an amor.rnt ot moneythata pe6onor company givento peopewho inv€stmoneyin a company, docurnents promising to paybackthe money(= the princip.) with (=tlrecoupon) ......... nterest reputaUon, relationships with customers a companys andcolectveknow-how(whenonecornpany buys anothef,thisiswh.t t paysfor abovethe bookvalue) 4 (phrasal veb) keepftoma larger.mountin orderto be used later 5 the moneythatyouborrowfrcma bankto buya propeny

own dsposeof build up acqune possess reatize

have

buy

sell

27.6 The verbsin the box canall be usedwith'debts'. Divideth€m into t\/vogroups.The meaningswithin a group are similarbut not identical. settle build up clear honaut tncul pay off tepay run up seNi.e colle
pay back

(phrasa/ verb)givesorneone allthe moneyyouowethem Note pa'dback ist ttheansêr) commonmistakesManylanguages usewordslike'actrves and'passives'for assets andliabilites. Thege wordsdo not existn English. Also,manylanguages usea wordlike 'ob igationlfor bonds.Thisis a fakefrie.d - the word snt Lised in thiswayin Englsh. 27.3 Completeeachphrasewith a prepositiontrom the

27.7 till in the missinglette6. I A business mayhaveuseda itsfundsto buyequpment, vehicles lf so,youcansaythat it has and nventory. 't d p'all ils moneyin assets. 2 lJa deblisn'tpaidback,thenthe comp.nydefa is on the debt. 27.a Completethe text with thesewords:copyfl?ht,

1 2 3 4

a currentassetcanbe turnedquickly 'accoun6receivable' s moneyowed 'accolntspayable's moneyowed 'financial assets' areinvestments

5 6 7 8

'provigong' ncldes money9etasde baddebts bondholdeB haveto be paid .t maturity prclits shareholdeE' rcinvest€d equltygrows a h ghly everaged company hastaken a ot of

cash cusiomers suppliers .nother

boo. vdlue K rhe val-" ot . .orpary ' .r we'lr

IO

the long term a companyneedscashto pay ihe

youcan 1 lf youdesigna newproduct,or a newprocess, applyfor a Thisglvesyouthe €gal ight to be ihe onlypersonto make,useor se t. lt lastsfor a limitedperodof time. 2 lf youproduce an or qinalpieceof work(e9a book,design, youownthe .................. on it. computerprcgram), (.lnoUepoduLer wtho-ryo-roe r sro1 Othepeople Therightis creaiedautomatica ly youdon'tneed10appy. nameor symbolthatyouu9e 3 lf youhavea unLque yo! canapplyto register for yourproducts, it asa oncethishasbeendone,oih€r peope cannoMe I Se€page149for somediscussion topics.

( in is possiblein #10, but isn't the answerhere.) 27.4 Doesthe term 'creditors'meanaccountsreceivable or ac(ountspayable?

companyfinan(€ 5!

-lal

7<.t -

Cash flow statement

The cash flow statement (CFS)is an official finmcial siatement the third covelEd in this book. (Se miis 26 md 27.) InJormation for the CFScones from the P&L ed balance sheet, but is presented in a different way. It is concemed with real money (ie cash)-not amountsthathaven'i yet been receivedorpaid. Genera y speaking,jnvestorslike io sc€the CFSbecauseith lessopen to the use ofaccounhng h.icks.

cash Cashcan cohe rron (or be used for) threeareas: l, Operations:this is money received(or 1os0from actual /, Investing: this includesmoney spenron physicatproperty (egplant and equiprnent),money received(or tost)by nlvestingin stocksand bonds,and money made (or lost) lrom buying or sellingsubsidiaries. {, Financing:this includcsmoney made by issring ne{' shares,noney spentby buying back sharesfrom the markei,dividend paymentsmade to shareholders, money .cceivedby boftowjng from the bank and money lsed to rcPayprevrousLoans. A sinplificd CFSproducedat thc eDdof a fi'rancialyear might look like the one in thc bor.

Cash flow {rotn operations Netprofitaiterta( Deprecration D€crease n accounis receivable Incre.se in accounts payabie Increase in taxespayable Netcashlromoperatons

3.600,000 80,000 30,000 30,000 10.000 - 60,000 3.690.000

Cashflow {rotn investing Plant andequipmeni

- 800,000

300,000 - 630,000 , 400.000 2,'t60,000

Seeuniis 26 fld 27 for locabulary in this box.

60

Looking ateach fig@ ln tum: Net profit after tax This figure comes hom the P&L. Seeuit 25. DepreciationThis was subtractedon the P&Lio arrive at the net profii, but in fact it was a'paper'expense and the profit wasn't really redrced by ihis amount.So it is added back hereto make the sums .ight. Decrcasein a((ounts rec€ivableA decreasemeansihat more crstofreG have paid off their oeditaccouts, and so morc cashhas entcredthe company. Incease in accountspayableAn increasemeansthat the companyowes more money to suppliers.This is available l€mporarily as cashinside the company. Increas. in tares payableThe samelogic applies.If there is an increasein taxcsowed, it is addcd on the CFSas there i5 more cashstill inlidc thc company until ii's paid. lf laxes havc beenpaid ofl then thc amount is deducted- thereis lesscashin the company. Indease in inv€ntory The companyhas spentmoney io purch.se materials.If this is done with cash,the amount is shown as a d€duction.Noiice lhat if the purchasewas madc on $edit and the amount is still outstandingat the end offte year then therewould bc an inc.casein AccountsPayable and the amouni would show as an addition on the CIS. P l a n ta n d e q u i p d e n t I f r h " \ u m p d n v n v e r i : r o n c y I n assetssuch as buildings orequipment, then this shows.s 'cashout' (i. a deduction). If the asseihad beensold, it Issuing new stock This companyhas raisedcapiial by

Cashflow frofi financing Stockdivdendspaid

Cashflow statement breakdown

Sto.k dividends paid Cashhasbeenused to pay a dividend to existingsharcholders. Bank r.paymentr Cashhas beenused to repay pariol a Tb€ amout thai remainsis ihe'fre cashflow'. This is what a cornpany has left after it has paid all its expenses.lt is often considered to be the ieal 'bottom line'.

2A CASH FLOWSTATEMENT

Exercises 24.1 Finda word in the t€xt oppositethat matcheieach definitionbelow.Thewods appearin order. 1 largemachinery us€din ndustralprocesses 2 offcia y nrakingsomething avalableto buy 3 (infom al) calculaliors takenawaylroma tota amount;subtracted 5 6 money, espec allywhenits usedto starta blsiness or

producemorewealth 24.2 Belowyou will ree a simplifiedcashflow foreGit tor a new business.Notethat a cashflow forecst looks torward, unlikethe cashflow statementopposite. Studythe first two columns,then add thesefigurer in the @rrectplac€in the third column,

t

940

9,564

10,540 26,960 27,900

Cashflow from operations Open

Saes CapitaL n Totalincome Eiq ce5

Feb

30,000 '

Op€ningbalance

9,000 30,000 30,000

10,500

9,000 '? 200 40

200 40

6,500 r,800

4,000 1,800

2,400 400

2,400 400 400 80 240

Directcosts

Salaries Ofiicerent Officesupplies Utilites Totaloutgoings Net cash{low ' Endingbalanc balance

200

30,000 30,000

500 12,O40 (3,040) 25.950

28.3 Referto the cashflow forecast{rom the prcvious exerciieand markthesestatementsTrue(T)or False(F). probably I won ol the capitalto startthisbusiness camefromthe bank,not the personalfunds of the business owner.T/F Klue bol dt the\t,,eof fio toanrcpafnent.in relatianto the .apital in') 2 Thewagesol staffwho actually makethe prodlct (orservecustom€6)are fromthe show.separately saaryof the managerT / f paidmonthly,n advance. 3 Rentis probably T/ F 4 Thegasandeectricity comp.nies.reprobabypad monthly, n advance. T/F 5 ll isa convention in account ng to shownegatve figLrrcs in brackets. T/ F 6 Thefactthatcashfow wasnegatvein lanuarys a badsignfor th s newbusinessT / F Continuein the sameway, answeringquestionsabout cashflow in general. 7 On a spre.dsheet, therewoud probaby be tlvo columns for eachmonth:oneior forecast fgures andoneforactualfgures. T/ F 8 i youmakea salen Januarybut the custorner takesadvantage of onemonthScredt, the sales frgurewouldbe enteredin JanlaryT / F (Clue:remenbetthat cashflow statenentsusecash a
the samelogic som€ihnq asan expefse capialby issunq newshares a creditaccountn ful

5 6 7 8

moneyfromthe bank shares fromthe market fiqLire one fromanother informatonin a cedainway

28.5 Fillin the gapsusingthesewords:at b, id, or, on. 1 spendmoney plantandequlpment 2 investmoney pant andequipment 3 havemoneyav; abe . . cash I jn is possiblein #3, but isn't the answerhere.l 4 makea purchase credii 5 raisecapital ssuingnewshares Seepage149for somediscussion topi(5.

companyfinance 61

Managing cash flow Cashinflows and outflows Ahealthy cashflon is oblioush itupo.tani fo r b!siness:it enablesthebills to bc pai.l, the brsinesstube erpanded,and lendersand nlvesiorsto be reassuredFoia $ell established .ompanv,cash{.lll also bc neededto pav a dnldend to

Top10 tips for improvingcash flow M a n a g i n gr e c e i v a b l e s '' '

Sourcesof.!sh inflorys ar.: Paynents fron customers. Shareholderinvcstmenis. A bank ove.drafl. hterest on bank sarnrgs.

Controlling cash flow Som of th! iicnrsrtr.\c irL'rnrlq dncct coni.ol and L;,nbc mrntgcd on.t d.y-ioiiy Lr.sis,othds lcssso. l:(r c\;,mplc, thc IiAt itcnl unLlercnshinflows (ic iccounis .ccc^ ;,blL') ifd thc first thrce ilcms lndor.ish outfl(nls (('.ccounis p i y x b l c ) . t r cn r r . s w h . r . i h f r c i s r c i l c o n i . o l . i i o { h e n cashrntcllso. k'arcs thc coDP.u!. ()ihc. iiems rre less nr.n.g.abl. on r day-l(ld.y basis,i bnnl lo.!i is .: stf.:rqti. d.cision with d onel)ff inrpi.l, p.vm.nts.f s.larics rnd u t i l i t i c sh a p p c n . t f i r e d i i m e si n l i x o d. m o u r l s A key ilcnr lh.t dircctlv ihpdcts cashfloe is jnlcnlorr ( Sl .. . u n i t sl 5 a n d 1 6 . ) ' D c a d ' n n c D k r \s' i l l i n 8 mNna,ienrcD on i slrclf,nr i siorerootu(,r in a $'archousr.r\tu.ls dl'nd c.sh flow. Cashhas beentiken out ofcircllatio.. R.ducnrg'd..d' tuveri.,r), is a lrjor wa) ihai nranagcrscan conbol caslr

Cash llow problems Mo1€busiressesfail due to casbflo$ prcblemsthan due k) lack ofprofitabilitv, parti.ularh jn ihe earlv years This is b..arse ofoverh-ading,in other (ords accepiingnes (o.k ryithout harnig sufficientresou.cesb completeii and keep the busnlessrurnnlg. A ke\'.oncept here is'workjng capital' Irom a strict accouliing viewpoint, this is definedas .urrent assetsmnrls currcnt liabilities'.(Seeunit 27 ) But from an every.laymanatem€ntviewpolnt, ii's simplv haling enough cashto pay the bills.

62

Runcreditcheckson all new customers.

. Haveheavilydiscountedspecia offers on sales of old i'lve'ltoryto gene'aip cash no\a. .i lssueinvoicespromptlyand foLowup immediately if paymentsare slowin coming.

Sou(.s of..sh outflo*s i..: ll'rch.Ne ofst{,ck and ri\L mai.rials. I'ruchns. of fixed asseis:ll cquipmert, nra.hiierv, officc Dailv oper.tnlg crpcnscssu.h as office srpdlcs llryments of sala.jcs,rcnt, !t:lities. Loan ind oYc,driii paynlarts D i v i L l . n d sk , s h i . . h o 1 d c F . |.rvnr.ni of tares.

Aqhcustomersto nal,e a" i.ilial depost dl the time the order is taken.

''' '

Offer discountsto customerswho pay raptuy.

Lookfor oplionswiLhpe.ss'er_ slowpayr'rg customerssuch as a percentageprepayment, or cashon delivery(c.o.d.).

Managingpayables '

' Negotiateextendedcredlt terms.

' ' '

lf yo! needto delaya payment, communlcate with suppliersand warnthem_ Look carefullyat your suppliers'eary payrner[ discounts.Will they reallyhelp you to reduce overalicosts? How rnuchdlscountwill they gve you in exchangefor taking more of your cash earlief Thedevi is in the detail. Leaseassets,ratherthan buythem,

Th. pnblenris this:nrF $uk irNlnvesbuyingsiock,using cqliptueni,p.rvnrgstali,ind payiig theiixedcosisof rent in.t ltilihei, dll b.ior..nv pavmcntscomein. Youneed .ash (ie $atrknlg c.pital) to Llo!ll thnt, aDd.ash has k) cone lrotu someNhcrc ll vou hrle given a new .ustoner a ldrg credit perio.l in oftler to s'in theif busiress,or ii aDe\isting custumeris litc in paving nt a critical tinre,ih.n you might ha!e ver! seriousprobl.tns. So $hat cnn a businessdo jl it has foll$ved all the tips nl the box abole and still iituls that it hns a shoftfall lvith cnsh?Thc lirsi stepis to take adlantagc of any emergen.yljne of.redit andlged at the bank.The secondstepis to mike partill palments on lessimportant bills.And n finll option is to use a dnrd pnrtv to buv vour invojcesin rehtrn fo| them taking a per.entageof the totaL(called'factoring').

29 MANAGING CASH FLOW

Exercises 29.1 Finda word in the text oppositethat matches€ach definitionbelow The wordsappearin order. 1 rnadeto feel €ssworriedabouisomething 2 arrangement wth a bankthata owsyouto hav€a temporary neqative balance 3 contnLrng to do somethng,especia y som€thing bador annoying 4 fMo r'vordtcoststhatdon'tchangewhenproductongo€s 1rpor oown 5 th€ d fference betweentheamountyouhaveandrhe amounryoune€o 29.2 In the 'Tips'box you will seethe commonand usefulphrase'thedevil is in the detail'.Fromthe context, '

rl rou lool dl l1eoprdc.yo. {r reelotsol b.d rl.'rqs 2 vodne€olooo. d rl.pd.r. k ro reer_e eal9,Jato. 29.3 Make phrasesby matchingan item from each I

havea healthy

2 be a we -ertabshed 3 havedaly oper.ting 5 takeadvantage 6 seesomethng froma strict 7 8 t 10 11 12

mak€an nital runcredi haveheaviy havepeEisient negotate exiended givean early

on a dayto daybasis accountrn9 vrewponl oi a lineoi c.edil

Background Manuela3 bueness is thrceyearsold.Herannual .... ., is €180,000, of which€20,000s profit.sheoperates with a bankov€draftof up to €25,000. Manuela succeeds in winningan impoftantcontfactio supplyNovatech. Theorderisfor €40,000a monthfor iwo ye.'s Sl'ew I be pdd 60 ddy5at"' ? (Note:sixtyworkinqdays= threemonths.) She.allshersuppliers. sheordersev€qdhng sheneedsto fulfllthecontractif the flrstfew months. Ihe lirst month go we l. Manuela Thrngs r€ceives hers!ppiesandbeginsto makethe itemsfor Novat€ch. The se(ondmonth Manuela mak€sherfid delveryto Novatech andshe's happyHersupperscontnueto supplymateriak, but to pay ller .rlsl.e1a9to 'rced-eherr Thethird month Manuela makesmorede vereslo Novatech, but her overdralt i5.ow at ther Thetourth month lvanuelais worried.Shecanl payall hersuppers. However, shethinksshe'llbe finebecause shebstil delivering to Novatech, andtheyre pleased wirh herqLiaty.

5Ow-payrng cuslomers

29.4 Make pairs of words with a similar meaning trom th€ list below. All the words and phrasesare used with be-shedaf, ln aclvance,inflows, infusion, inje.tion, gene6te, hatdings,taase, needs,paynent (n full), raise,rc.etpts, tequtrenenEl reseNet rgt*tit:€+' seftlement'shaftage' shortfall,spare,up frcnt b-"+tan of - run out af

29.5 Completeth€ story about overtradingwith these words clear, delivery, fuffil,Iinit, outsanding, ovednft,

Thefifth month Thefirstpaymenliiom Novaiech arrveson rirneThirhelps Manlelato paythe most5 b i l l s b, u i heroverdraft h nill €4,000overth€ irnt. Somes!ppiers afebecoming uneasy, andone s thfeatenng ega acton. Thebankrefuses to 6 .ny more Thesixth month Novatech arehavlngcashflow problems of theirown,and decideto 7 theirsm;lestandnewest suppliersTheywriteto Manuela io saythai unfortunately theirpayment thismonthwill be delayed. A few daysater herbankdemands thatthe overdraft is repaidwithinseven ddys.Manuela decrdes rharshecant 3 anymorcordersshecloses the business andbamesthe

Seepage149for somedilcussiontopic5.

Companyfinance

63

@

erofitabilitv ''j1,,

"Whotwillhappento profhsifour solesvolumedrops?"

i,,

',

tlt

\ii'ii i,

a : i: I i a r:.:t ! i : a : ' ,i ' : . All the questionsaboyecan LrcanswercdLryknoNing one snnpLething:the relationshiFLrcts..n fircd nnd r.riable

Fixed costs and variable costs

r

:,,it,t, rl",tt:tfit:'

,r:::,.ti,.,',t.:ttrrtii;t?'

,' t.i r ,:t |r \/i)i|tt). ir_ a., ',i:l'. '_,r?"

E\ e.v busincssstudentknorvs the classicgraph ot holv.osts and rerenuc rise at a different r.rteas salesifcrease,an.l how ihe.e is a brcak.ven point where they .rcss. The brerkeven point is the snlcs\olum. vou needto exi.tly coler nll your

Fir€d costs,emain nrorc or lessthe sameregardl€ss01thc lelel ofsalcs.Typicalcx.rnplesare salariesof permdnenl e'npkryccs,.dvcriisirg, R&D, rent, iiteresi on bank l(Dns, ins!rancc, hcntjngand lighinrg.etc.

Breakelena.alvsis c.rnbe uscll lof dccking rvhcthcrn ncs, pnxlu.t i.teais wo.th llcrcloping. and for compuiing ihc ne$ nrles figurcs thit wolrld bc n.cessaryif you dccidc k) incre.seri\cd cosis(ct bv rcnting nror. officespa..).

Vari.ble costsircreasedirectly in p()potim t,) thc lelelof sil.s TvFicil cxnmplcsare partsan.] m.tori.rls,$1rgcsof torpor.ty cmplov.cs,salcscom'nissnhs.deliverr chirg.s.

operating leverage

Thcr. .rc ii.nrs dlit .rc Llifficulilo.alL.Boriz.,nrd nll .osls v.ry l() sonx dfg|'(\'. Iht idrc{isnrS I(r.\im}nc is un,ill! cofs crcd k) tr. i fir.d c{)stbccausri) it hrs n fi\cd L,ud8ot t(r erch .ccorntirg pornli .rntl b)ad(rtising cosisfo. i (,h)lc lrnrnd willndt bc nl.rcised or decr.asedinrm.diate\' in pR+uli(rl to tho s.lcs of individual pnluci linrs

Breakeven analysis Oncc vou know specifjc!.lucs 1orih. larious .osts, thL'Iirst lhnrg youle ible k) do js i brc.kclcn anall'sis.

Opci.rting llroralr is the cxtcnt (r which n lrusincssuscs ti\.d cosisGrscomparrd to \ariiblc costs)in its otcr.li(rs. lf n irusincsshis hlgh fl\.d .osts, thcn i sniilL riso or irll in s.1lcsrLill pnduc. i l.rrgcrisc or f.rlLin p(,fits l),1)t1tis nur s e n s i t n ck r a . h a n g ei n s a l c sl o l ! n r o . Kno*'ing tfu op.raiing l.!.nrgc giv.s nDn.gcrs n nrotu a c c u i t t ca n a l y s i st h a nl o o k n r gs i n r p l l r l t h db r c i k c v f f point. lt also nnrinds ih.rn k) kccp ti\o.l .osts lrw In otucl to lituit do$!s . risk, and hchs th.tu t(r s.! th. .ff..ts of substituiingmachin.N (with highcr fixod costs)for l.bo!r (\!ith higher v.rdablecosis).

Contribution margin analysis The contributnrnmargin is the percentdgeof eacheuLoor sal.s th.t rcdr.ins rftcr the vrri.rblecosisare subtrnctect. This is th. amolnt thit is.rail.lble to.ontribute tuwards fi!e.1 cosisand profit. Coniibution margin is uscd iol Comparethe p(titabilit\' oidiifercnt product liles. Dccidewhether b add or subtracia product lile. Dccidehow to pdce a p(rduci. Dccid. hor{ to str!.tlre any conrmissionsGo that sales staii arc encouragedto push more profitablehres).

Volume Sale5

30 PROFITAEILITY

Exercises 30.1 Lookat the graph then underlinethe correctwords in italicr in the statementsbelow

30.3 R€Ier to the graphs in 30.2. Und€rline the corred words in italics below. I Reducng fx€d costs(GraphA) rnednsthat more / fener s de sa r en e e d e dt o b r e a ke v e n R € d l c n g v d r a b e c o n s (GrdphB) do€snot havesuchd biq efi€ct on the breakeven gap b€fr€en revenueand cons as 2 Look.l lhe lncredsLng salesncredsein both graphs ths s the operatng everage. RedLrcing var abe costs(GraphB) givesmo.e / /e5soperating €veragethdn reducingfxed cosls(GrdphA). 30.4 Study th€ top half oI an income statement below It is in 'contribution format', so a) the variable costs and lixed costs are listed separately and b) figures for difierent product lines (A, B and c) have b€en separated

Sales 1 lf pointA represents sa€sof 100uni15, thenpoinlB 2 1fbracketa' r€presents a proftof €100,000, thenbrackel 'b' represenrs a profrto{ €l2a,aa0/ €2)a.oaa. 3 Thismeanstharan n1eateh sale\ot 2Ao/./140'/" prodlcesan increase I prcII aI 20%/ 11Aa/a leveage/ contributian 4 Thlss the phenom€non ol operating

T l r e9 r a p ha b o l el h o w sl h a tl h s c o m p . n yh a ! h 9 h o p e r anl 9 leverageAsmallrse n saes({iornA to B)produces a large r se l n p r o f l s( l r o m ' a t o ' b ) 5im arly a smalllall n saesfrom B to A prodlcesa large lal in

30.2 Thetwo graphsbelow are for th€ samecompany, six monthslater.Notic that the revenueis unchanoed.

lrrroni's/aae,ri:ri (trqutesin €400) 5alesrevenu-o Costol goodssold S.e- (oan "on S hp p n g c o n s T o t a l v aar b € c o s t s C o n t rb u t o n m a r gn

l i n eA 500

l i n eB 765

i n eC 830

275 80 35

325 05 30 (460)

374 40 55 (s6s)

40%

320/o

{390) 22%

Saares Advertisnq Elc Operatingprof r check the definition ol'contribution margin'opposite to see how the ./" figures in the table are calculat€d. t x a m p e( l n e A ) :

Graph

5 0 0 3 9 0= 1 1 0

!9, rco- zzY. 500

Unde.linethe correctlettersin italics. 1 In orderto rnaxmizeprofts, theconrpany shoud emphdsize li",eA / B / C n ts prodlctmx 2 Saescomm6sons on ineA / I / C maybe a litt e ioo y toolow 3 Thesengpriceofne4 / I / C s prcbab

SalesVolume

Volume Sale5

Seepage149for somediscussion topics.

, o r B , h a v em a n a g e Br e d u c e tdh e 1 I n w h c h g r a p hA adveftrsnq budget (d {xed cosl)? 2 li wh ch graph,A or B, havemdnagersfound another s . p o 1 6^ r l L ' r 6 r p 4_ 1 "" ' r " os. "\"r"ol" company financ€ 65

Financial markets Stock and bond markets Stockmarketsare the best-knownfinancialmarket,and thet tunction is fiJstly to raisecapitai when a companygoes public (ie issues shares for the firsftime), fld secondly to pro\-idea placewhere blyers ed seilersof thosesharescan ihen exchangethem. Wller a brsiness rea.hes a ccrlain size, the origiral o$,ners 'ni8hi decideihai they hant to go public dd Lisrrheir shares(AtrE stocks)ona stockmarket.With rhe hetp ofan hvesiment banl<,they sell thesesharcsio lhe marketat an IPO (hitialpublic offering).Ahrge:i!m ol money entersthe businessas a onc-timeevent and can be uscd io expandthe business.Owne.ship of the businesspassesf.om the original foundersto the shareholders. The bond market is .lso used to raisecapiral,but ir this .ise the capital is raisedas a loan.Bondscan bc issued by companies,governmentsand somemunicipal orsr.re authorities.Thc iDveskr ihc bondholder- providesmonev, ancltlis is paid b.ck with intcrestover thc tcrm ofthe lo.n. Sbcks and bonds,which are collecrivelyknown as 'sccuritie{, are activcly tradcd on the ma.ketsifrcr thcv have

does, you gain nore as a percentage rhan the movemeni of the uderlying stock.Ifit doesn't,you loseeverything. So, in exchmge for some risk, vou can in$ease your pobential!eim. Bui notice rhat an oprionscmhact also alloh,syou tobe nore caretulwith youi investmenis:ifyou own a sick and it falls in vahe then you lose money-bur $,idt an options contracton the samesrockyo! can make monev as ihe stockfalls. In this way you have 'liedged' (ie protectedyourseuagainst)ihc risk.

Th€sear€lndivduas whopurchase sma amounts ol securteslor InstilutionalInvestorc

nsufancec0mpanes

Pensiontunds nveslmoneythal peoplea.€savingior ther retremenl. lnsurance companles investthe moneylheyfecelve lrompoicyhoders (BrEunttrusls)poo Muluallunds lhemoney0i rnanysrna nvestors tarnvestn seectedcornpanies na

Money market The nloncy markct is lcssw€ll-knos'n,bui it provides importanishort+ermliquiditv for ihe fitraDciatsvstc,m. Conlpinicscan ftrnd thcir shori-iermneedswith a rnngeof clebii'rs[umeDts,oftcn refen d io as 'commcrcialpaper'. Banksusc this papcr to bo.row anctlend amongsithcmsch,cs. Covemments,siaLs and localgovcrnmentsalsohav. accessto moDeymark€tinstrumentsto tund thejr short,tem o.ot.

FX market tsyfar the larg.st liiancial markei nr thc world is the foreign cx.hange(forcx/fx)narkct. Companiesneedcur.encjesto pay their foreignbills. Centralbanksbuv.nd settcurencies lon'qipuldr. rLee'.h"-geritF Covc'nnenlsu\ecur.ncic. io buy the bonds of other couniries.Pensiontunos neeo currencresto make irvestmenis ovcrseas.Speculatorsbuy and sell cu .ncies as ihey chaseshorr-rermbends, adding a loi oflolatility to the svsiem.And evcrybodv$,anrsio hold their spafecashin a currencywith a good rate of inter€st.

Commodity markcts Comodity marketsexistto tradephysicalprodu.ts suchas oil, gas,metals,grains and meat.

Derivative markets I n a l \ . t h p r er r e o p r j \ . t i \ ' $ m " r l p ' , . A d e d \ d h l p i - r fimncial irNtrumeni a'hose value is derived tiorn (= depends on) another asset.For example, an oprions coni.act on a siock allows you !o mke money ifthe value of the unde.tving sto.k rises(or falls)to a certainlevelbva certaindate.IJ it

hveslmenlbanksbuyandsel securties on behalol ther c ients (largecornpanes), andon lh€irown

Oltenqute secr€tive theseare companres thatpoo ther.oney of wealthy inveslors andact n an aggressve way:spec! al ngona shorll€.mbass usng everage (reooffowng money10ncrease polenlial prolts).usingderivativ€s, etc. Theselrrnslypicalynvestn privat-" cornpanesnorplb cly sled compan es.Therearetwovery d lf-"renl lypesof activty: + venture captall0slpponstan-ups + buyolls (where a companys taken over,reslflclured, andthensold) Sovereign wealthfunds Th€seare nvestrneni vehicesowned by nalonalgovernments wilha arge budgelary slrpus (egb€cause of oi revenues) Theyinvestin a rangeol assers(egstocks, bonds) Hedgelunds

31 FINANCIALMARKETS

Exercises 31.1 Finda word in the text oppositethat matcheseach definitionbelow.Thewords appearin order I peopp wl_o -a- a bLsners 2 d o u n F L q , \ " r l o . o n a o ^ F w L o I n v e g l r1 1 o _ a yi r

"

government or company, wh ch promseeto paybackthe moneywth nterest 3 (fl1lor.vordi) the reaton in valuebetween onecurrency (eg€/ $) andanother (egshdres, 4 peopewho buyandsellassets bonde, curr€fcies, rawmateiat n the hopeof makng a quick prorr 5 ..ddAno're dd gF'oJ .rarget 6 P -"q " ; ng .nd"rIl_P.Jd".e Now do the sam€for the words in 'Who are the players?' opp05ite. 7 fthr-.ewords)actinSasthe representatve of; nsteado{ 8 peope who own insurance 9 combinepeople!moneysothal I canbe usedmore effectvey 10 (two wotds)narcy inuestedin a new companyto he p 1 11 stuations in whicha person or grolpgarns contro of a company by buyng a or moslof ts shares 12 (twawords)whenagove.nment receives more thant spendg perodof t nre overa parncular 31.2 Putthe words in ead box into two groups,based on theirmeaning. b.a! br|| dep,es.ed.lattirg .baofr.g. neauntlnstng s(onq weal

a

Ta..el

goad,high-tisk,profttable,isky, secure, saund, speculatlve, wotrhwhile

31.3 Makephrasesby matchingan item from each 1 2 3 4 5

9o -\ s t \ raise \ payback -iund

capitalby irsuingbondt papea short'term debtwith commercia sfrares on a stockmarket pub c with an IPO

6 manipLrlate

a startup with venture capita

8 bLrysh.res 9 support

shodter.ntrendsn the market rt a company, tfrenrestructure

31.4 Complet€the sentences about
31.5 Fill in the missing letters in these commodities. gat I E n € r g yc . € o i l , n a 2 Food.nd Ubr€ 3 Grainsand oilseeds:wh t, soyb 4 M€at:ca €, h gs (8rEpigs) 5 M€t.s co ef, r ore 31.6 Complet€ the t€xt with the words in th€ box.

connodtty.antrads dawnsidetisk hedgtng levetage underlyingassel Twoconcepls thal arefundamentalto modernfinanceare everage andh€dging. i is usingbofiowedmoneyto buyan nvestment. Youinvest€100of yourown mon€yand€100 - or €1,000 oI the bank's. Thisg v€syouenormolsproftt good i your nveslrn€nt sa one,but a so magniiies the ' . o,ot oi everagen a rnarket increases volatilitylf the marketmovesagainstyo!, t's notilsl yourown moneyyolJ'reosng,but the borrowed qrJcky to money.s we . SoyoLrhaveto se shares mi.imlzelosses, andlhisdrvesdownthe marketvery 3

meanstry nq to protectyounef againstrisk.lf youhold, lot of shares, foreiqncurrency or o makemoneyfthe , yoLr'llcearly priceof the assetgoesup. Butif the prceqoesdown,yoLr'll lose.Youc.n hedgeth s riskby buynq a d€rvatv€that rs structurcd io makemof€y.s the plce of the falls.Soil the marketmovesaqdnst you,at leastyouhavesomeprotecton. see page149for rome discutsiodtopics.

F i n a n c i aml a r k e B 6 7

Investing in stocks 'bid/offer

sto
indcpcfdcnt.Thcrc 'night Lir.r $cll cn.blishcd .onrp.ny lr thc hr.lthc.ro or rftt Niailing .er that pi!s i hlgh, .onsistcrt (li!iri.nd ev.r\' !.ar, Lr!t whosc s().k |ric. chrng.s lcry lilll.. litL,.rl\,, thcrc nrighi Lrc.r inillcr .onrp.rny in thc lcchnol()gy ncl(n w h " s c s n ) c kt . i . . i s g o i n g ! p r . p i d l \ , but thcy pnr no divid.fds .rlill, b{.u{, ill ilrcif f(ifiis itu rrin\.stfd l()helf.xp.nd ihc brsinc!s.

spread')is the protit ihai toes to the exchangeand other people$ho handle the hansaction.

Funds Insteadofbuving siocksin an ndivldual .ompiny, you ca. buv *ocks in a lu1d. ru.1s hold a rangeof sharesand a di\ersificd portfolio helps to spiead risk. The fund managcr picks stocksilith th€ help ol analvstswho hale expertiscin part'cuLnrareas,for exampleChinesebanks,or small blotech comp.nics.or di'idend-paying.ompanies. I n . , * r , , . . h . ^ - " ' , r . . 1 ' ^ nr i . " l . r . i - .f r h H i - h . ' l . l i n r8l -- c r l past perfo.mnnc.. thcir m.nagea their risk proliLcan.l thcir

Evaluating a stock PRrfessnrnal in\esktrs k{k ii. {holc ranScof fickts when d e c i d i n !n h i . h s t o c k sb b u v :

SWOToflh€ companY

l).5: rnr.r.il!.

\.rnn l) .r, ..

I ! si |r (.rfl! r t(iA,r.rllr,i( r-\ r..ri1r! .jtl]i.i)\L]lnj]l).i]li]lljJnJ]j

A!. t! tt ..,r.r nf [](irxrir

Fin.n
r r l . . r i r.L , r r i rr n ' rr r . f t a.i r i .rl

Exchanges and indices Ncarly clcry country h.s r stock erchingc,.nd on lhc cx.hangcccrtrnl sharcscan bc gnucd togcthcrto .rakc an ntc\. ln th. US thcrc is the Dow lon.s, thc S&l'and the NASDAQ;h !uFp. ihe |TSE, the DAX and thc CAC, in Asja the \ikkei, th. Hang Scngand the Sense\.An nrclcrcan bc uscd as a benchmark f ( t i r d i ! i d ! a l s i o . k s : i s t h es t o . k oL'tpertormingor undoperfoning E!efy siock is quotcd tr'iih hvo prjces: a bid ln ice (= the buynrg pricc) and an offer pd.e (= ihe scllng price) The differencebeh{.cn ih.se illo (= the

ll r.er.ri lrid r r..fI,/ari F . . . . r i : r c j t r t . i o L r e \r r k c . . r o . r yf r o nr h e n a c . r e5 l l n a n €r l a r d b ; d . . . s f t . r Eranrp e \ t P ! ( e a r f q 5 p . r 5 l r r r cP i , / Et u L! ( p r . e / ..er ..lr r;rJl lOI lr.r!r. o. ..]!iryl.t. Market conditions

P r o r p e . ri . r d L I p a t u i . !a r i d r r r y . o . ! r r n r r ! D e r . lr , 9 . 1 .

Ie
! r ! d ! f g . h ; . r p r t t e f f s ! p p o , ta n dr e s i s t a n .r.r,; d n q n!d! f9 .re!:or iei: mefr (eqpr..5 arercwerrrhen r e . r r e r l s a t r sm o ! : b e a r s h ) a ! . e a n a , / irr i e a s c n a i t y i e g! i o . G d o b e t t e frt o r i I r i r e\ . c o i d h af . f a L l 5P r s d e . t ! t e r ml n o f f . € l

32 INVESTING IN STOCKS

Exercises 32.1 Find a word in the t€xt opposite that matches each detinition below' The words appear in order. 1 (h,vor,vofdJlaccountifg. p.ott thdt s mddeTromthe s. e 2 d numberthal showsth ol somethifg,so t h a t y o ! c a n m e a s u rceh d f g e s 3 a n a m o u n to r n a n d a r dt h a t y o u c . n t r l et o r l u d gn g h o w q o o do r b a do t h e rt h r n g s . r e 4 do nq beiter th.n s tn/o wofdJ): r.nse of d fferenttypesol nocl5

Now do the same for the words in 'Evaluating a stock' 7 d methodusedto nLrdy.n orqanza1on by anayz nq 1! n r e n g t h sa f d w e . k n € s e etsi r. eo p p o d u ft e 5 t h a 5. n d t h e 8 p r o d L r cbt se n g p a n n e do r d e v eo p e dt h d tw

be.!arible

9 p o 5 sb t i e 5( e s p eacL l yg o o dt h r n g st h a rm q h l h a p p € n ) 1 0 f r h r e ew o . . / t l h n g sl h a l m a k c 1 d l f . ! l t f o r . n e w c o m p a n tyo e i t e r . m a r k e l1, o re x f m pe t f r c n e e dl o f , o t o l . . p l i l o . 5 p e c ., z c dk n o w - h o w 1 1 a p n . e e v e o n . n o c k c h . r l l h a l h a ss l o p p € dp r e v o u s 12 ltwa woftlt \||a pata el ne5drawn on a no.l charl l f a t c o n 1 a rlnh e p r c e n o y e m e n t o ! ! 0 r a p € f i o rol l t m e

:2 I Complete the text about financial ratios with t h e w o r d s i n t h € b o x . C h e c ka n y u n k n o w n w o r d s i n a

ase6 blnf lout v/ay .apnalgain eatntngs .ret.ict areetced ptofnnbtltt/ sha,epn.e nvestorsn€pda way to analyzea comp.ny objectivey, . n d t e n i o rm a n a q e rIsn sd e t h e c o m p d n y .s o n e € d ' 1= perform.nce nd cdtors)to monitor t s f n a n c l ah e a t h T h 6 i 5w h e r e{ n a n c l dr a t o s h d v e d , o e l h e yu s ef r g ! r e sl a k e nd i r € c t yf r o mt h e c o m p d n d yccounls (= profrs), l o g v e n l o r n r a l i oanb o ! t ' ] g r o w l hd n d v a l l e n t h e m a r k e l T h e s €r a t0 5 a s o a p p e a irn new5reports,and f you want to I i ndnc€,you shouldal ean recognze the words passivelyl H € r ea r es o m e m p o r t a not n e s : I E P SE d , n i . g sp e rs h a r eT h ! ! t h e n e t p r o f t a f t e r l a r d v d e d b y t h e . L r m b eor f r h a r e st h a t h a v eb e e nE s u e d t s d b a 5 . m e a s u roei " . b t y t o m a k em o n e y r 2 P / EP rc e t o € . r r n i n g.s. t o I h s L 5t h e . o m p . n y ss h . r e p n c €d v d e d b y t h e E P SF o r a n r n v e n o rt ! p r o b a b l y i h . 5 n q e m o r t m p o r t . r nrtn dc . t o r t s l r o w !w h . t t l r - " m . r k e t s w l l n q t o p . y l o r t h . a. o m p a . y ! e . r n n g 5 t s ! ! e d l o o m p . r e c o m p . i r e r . t l r es . n r cm . r k e t . h i g h P / Em € a n st h a l r h em . r k e tl r . ! h 9 h h o p e sl o r t l r e . o m p a n y 3i L r t u r ,b" .L r i t m . ' y. ! o n d . a t e t h . t t h e n o c k 3 P / 5 P r c e - t os , : r ert d t r oT h5 : : m a r t o t h e p r e v r o L r s

l 3 h o w p a y e r si n t h e r . d r k e tf e e . b o u t . n n d v d l a l n o . k o r l 4 a s e . r eosl e v e n l st h a l h a p p e n . q dn a n d . q a n n t h € 5 r r n e o r d e ro r a l t h e s a m et r r . e s 3 2 . 2 M a k e p h r a s e sb y m a t c h i n ga n i t e m t r o m e a ( h I m a k e a d v d e n d- - - .\ 2 quoteabd I h a v e . d N e r sJ e d 5 rsk 5 qrowth p e r l o r n r a n cl oel a l u n d ) 8 investor

l h e . n n u : s ae s p o rs h a r e t s l s e t u l$ / h e . e l a l d t i 9 y o u n g . o m p : n r ews i r h o t s o l e a l e sb u t t t l e o r n o 4 ROERetlrn on eq! ty Th s s the net proft afier tax d videdby the shareholderlequty lt |s a rneasLrre of how effcientlya companyuse5ts 7 to prodLrce earnnqs 5 Div;dend Yield Th s s the dnnLraid videndper shar€ d v i d e db y t h e s h a r ep r c e l t s h o w sy o u t h e r e t l r n n d videndslhai you qel when yo! buy a stock Yo! need 1o know lh s I you re ookinq for req!lar dLlidendsfrom an esidblished .ompairyratherthan the chanceof a 3 trom a h qh riskgrowth stock S e ep a g e 1 4 9f o r s o m e d l s c u s s i o tno p i ( r .

F l n a n c l .m l arkere 69

Recruitment Rccruitnent Fning) is a tev area$ithin human resolr.es. Thc processinlolves nany decisions:

Should you hire a full-time employee on a permanent contract? A flli tine cmployeeis likely kr hayc a beticr skiLlsei.morc expeiiencc,nore loyatty,rnd you wiLl hale nore control orer ihcir iinc. On the other hand, you re taking somerisk with your commltmenttu this individual, and you \!ill ha\e exha costs(.9 paid lacation) to.onsid€r Other options Fixcll-tcrn.ontra.ts. PalJ tinrc cnployees (eg students,.ciirccs,nldi! '

uals

Te'nporaryhclp ('t€mp{, re(ruiicd through an agcncr). Indepcndcntcontractorsand f.cclanccrsh{'ho mighl work ofr your prcmises). Rrorganiznrgthe depatmcnt b nllocaicwork in i

What iob will the new employee do? Th€rewill bc ccrt.in iolr skills thdt thc or6iniration necds.1I you rc replr.nlg.u cxistirrg.nrplo!.o, thon.n cxit nltorrk\! could h.lp n).larify soDa.of ih. isslos. ,Afkr nhlc inalvsis A job .l.scripti(Jnihat gi\'cs ihc jt$ till., i {Dm..v of thr j ( ) bi n d a l i s to t i h c n r n i ni . s k so r . l u r i c s . A pcrRD spocificntnrnthii ljns thr knowlodgc, exporjon.o,qurlificdtn)nsind skills thit ro! woul.l lik. a ci!didiic io hiv.. Thest .rc oft.n di! .d nlto 'csscnti.l' ;,n(l'd.sjrablc sp.cificiin)D{.

How will you attract applicants? Oncc you hrve.1 lob opeDing,your fini thoughisnre likelv tu bc inte.nal applicants.li yo!.lon't ofrer opportunitiesto cxistingemplovees,ihcy'rc likely to becomedemoiivated and start l&rknrg clscdrere. But if vou do need io recruii cxternal\r ihen vou can lse a !..ietv ofelecironicand print tnediAsuchas an onlinc postingon a jobs rlebsiie,or a classifiedad (of a dispLayad) in a newspapei You can also usc the se(,icesof a spccialistemplovmeni agenc!,ircluding headhuntjngfi.ns for scniormanagers. Anothcr source of nes Nruits is referals, ie sugltesnonsmade b)' colleagues,eisting enplovccs, etc. Bui belarE, a $'o.kptace rviih ioo mdy friendsresulbjn a group that.esistssupenision, covcrs up for iLsmembes, tria[zes too much, ignores ihose n J ri , d h Fq r . . p a r d , " 6 A p . ^ b l F r - , r ( . n t . . a d n +

What kind of interview and selection processwill there be? You $'ilLbegin by asking for and lookjng through Cvs (BrE) or rcsumes(AmE), lnless you havc a spsial templareor application form designed by ihe compd\: You I'jll rher draw up a shortlistof candidaiesdd ca thesepeoplefor

7A

At ihe inten-ieh thereare a nmber of stagesthat you will probablr 80 ttuough: Be$n br estabLishing rappori with the candidaie.Th€y tyillbe nenous, and vou $,a.i to put them at their ease so thai iher cd e$ver qreshonsprop.rll You can also . h e . l ( L r . r b ji \ I n - ^ . i i l i / F a n d b n l l r p n , r l ) Outline the conpanv backgound and where thejob fits. Encourag.the candidateto talk about ho$' their skills and expcricnceare releeani.Ask opcn-endedq!€stions and keep thc inten ierv movint and on track. Closethc nrFn ier!, and indicatc to ihe.andldaie the nexi step and ihe iimeframe. Ratethe candid.te $hil€ thcy're freshh vour nird. Kccp Afier the inte^ ior nnd dependinilon thc job, thcrc nr.y be furiher tests.Thcsccan incllde praciicaltcsts(ofNanuil s k i l l so r c o t u p u t i n gs k i l l s ) . n dp s y . h o m c t f i ct c s t s (€g prcbleh soh irg, cl€.isionmaking, urtcrpcrson.lskills). Som! hrgc compani€sha\e spcci.rlisscssnl.ni ccntrcsto do Fnulhr b.f(tr( sclcctingthc besi c.ndid;rie ;,nd nl.king i job ottra,yo! mnI '{.nt k) do somc ba.kg(rncl chL(ks.,^t. m n n n u n i h l s i n \ 1 n v ( sc i l l n r gt o r m . r . n p l o y o r sw h o w o r o lincd bv th. c.n.l atc i,s rcf...nc.s.

Tips for a CV (resume) Plt a Surnmary',n a box at the top one shorl paragraphwltlr yourcur.ent pos tion and objectives. Put'Work experiencebefore 'Education, with the mosl recentjob n.st. lncllde referencesat the €nd, of at least a line sayingthey'reavailableon demand. Be speclflcin yourdescriptionsof .espofsibilites in Inc ude lots of acl on verbs. Focuson ach evements(ie importaft tlringsyou have done)ratherthan skills. DONT leavegaps in your emp oymentrecord,and DONI put down manyjobs ln a shon lme.

Tips lor a cover letter hclude a coverletterwith your CV ]his cou d be the body ot an emai ifyoure sendingthe CV as an attachment. Referto the partcular vacancy(eg whereyo! saw it Showhow your skills and experencewouldbe relevant. Highlighta coupleof pointsfrom your CV Saywhen youte availablefor interview Gene.allysel yourself. Formore help,use an Internetsearcheng ne. Firstchoose a w o r dl i k e ' C V ' o r ' r e s u m eo' r ' c o v e re t t e a ,t h e na d d a word Jike'tips' or 'example'or 'advice or 'wrltingguide'.

33 RECFUITMENT

Exercises 33.1 Finda word in the text oppositethat matdes ea(h definitionbelow.Thewords appearin order. . liurndn,o\our.ost.ar9eot + r \ 2 b . ld 19,rLdr. bJs-e9s-ses 3 decideto usea particLr ar amolnt of money, trme,etcfor a panrcurar purpose 4 e/dr r"r o. rharyoLfave pds,ed 5

i dir g 01 "bodv who tds l'e flg\r .l s 'o d sen ol lob and peGuad nq them to ledve th€ir pres€nt lob

6 (two wofdr) peoplewho haverecenllyjo ned an orgaf zat on 7 (phrasalverb)ptaleclssomeoneby hid ng unpleasantfact! about thern 8 (phrasalyerb.)readinqsomethinqto find the i.formation

9 a pre'design€d docLrment formatledfor a pa.trcular purpose '0 ret io .l_o of u_de'slaldr_g f €rdhress c_drespect 11 decideihat someone hasa partEuar standard or level

33.4 Findtwo words in the secondcolumnin ex€rcise 13.3that are usedwhen th€ employeedoessomething wrong, not when the companyneedsto savemoney. / 33.5 Underlin€the correctwords in italics. 1 A candidate / An appliGntha, simplyaskedfor a lob (egby sending a CV)ta candiJate /an applrcarfis beng actv€ly consider€d for thelob by the company 2 A classifiedad I displayad s a short preceof text; a cbssnied ad / dBplayad hasa boxarolnd t andcanhave 3 lI yououtline/ highlighta po ni, youmakepeop€ notice it andth nk aboutit; t yor autline/ highlighta pai , you descnbe the man deas 3f.5 Crosrout the item whi(h hasa diff€rent meaning 1 to cornplete, fillin, fil out,submitan application form 2 10aftend,be calledfot, carryout, get, go far an nletvtew 3 lo allacate,assign,delegate,givesomebody,setsomebody,

Now do the sam€torthe words in Tips tor a coverletter'

4 ro be fa@tlwith, catryaut, do, fulfil, peiarn a task 5 ro havea challenging,daunting,difficult,hatd, thankless,

12 a jobthatisavailable

6 to talkabouta candidates empoymentcont€ct,h6torJ,

33.2 Makephrasesby mat(hingan item trom each

7 loLdveanerab shedec'rrrert rerhod.pol,c) proce.lurc,prccess 8 to havethe required erpetlbe,know-haqnindset,skilket

1 be on -- =\ 2 recrui 3 work 5 sta(

.-

work n a differentway a permanent contract looknq esewhere for a job off the premises a9a freelancer tempsthfouqhan agency

33.7 Matchpairswith a similarmeaning,one from €ach box.Allthe words (an be usedwith 'experience'.

6 .sk 8 keep 9 d o 10 drawup

a shortistof candidates on achevemenls r.therth.n skilk quesr|ons open-enoeo someba.kgroLrnd checks

33.3 Dividethe words in the box into three groups, basedon thek meanings. n,akercdundanl(qrE) quit takean temtnate,AnE) dismiss

hand in your

apprapriate extensive firn hand prial handeon lttle

33.8 Matchpai6 with a similarmeaning,on6 from each box.Allthe wordscanbe usedwith'job'. baring challenqing decent i.Jeal nanual requlal dead-end

denandinq

Seepage150Iorsomediscussjon topi.s.

Human resosrces 71

Pay and benefits t'ay is often referredto as'salary'in I'hite.ollar jobs and 'wages jnblue coll.rjobs. .ompanv offersa compensation packagc(= pay + benefits)to emplovees,and this is the main way to attra.t and retdin thenr.

Benefits Ben.fiis,the secondareaofcompensation,are covere.ln ihe tablebelow V.nv of thesehave a minlmum level ihat is requiredbr las',but an opnon is for the companvto

Levels of pay How do vou decidcnhat levelofpay is appropriatc?You . J n - . " r b i f , , ' d . [ e o ! th r r o , h c r m l ' o \ e ' - , r . t . , . u 8 The best wav to get ihls infornation is probabh'netlLorkirg: ask existnlgstaft counterpartsfronr oihcr.ompanies, pcoplc .lready doirg thatjob, eic.You could alsolook at ihc job adve'lisenentsjn loc.l nerlspipe.s and igcncics,or pcrhips consuli with yo!r ch.mber of comnerce. Sometimesthe salaryfor a job is fi\ed; ar other ritres it m.\ bc opcn io dis.ussion,for cx.mple ai interlie$ or *hen i job otlc. is nude. A studcnt lookmg for their iirst job p.obablv won t hi!e n1u.hlr.f8nnring $Ner ocr p;r\,,but other pcople might. ln parlicular you ha\e a Fosiiionof strcngthif you hd!c srrcci.ljzcdskills.ir e\ishlt tob, ind rou cin see lhii the .onrp.nly n.cds yo!. ticsidcsddc nlg how nruch io piy nds' hires,the othcr miior conce ofcn\rloycrs is hos mlch of a ris! (AmE txisc) kr Bivc cxistingcmpkrv..s. Thr thre basjcappr(r.h.s, w h i c hn r c o f t c nm i r . d , . , c : (li!e rvcryono tho sinlc Fcrceni.rgcrisc. ( ) i l ' { . . r . r . ri ln , r r _ t . | , ' . \ l , { ' l . r F t . , ' r \ , r \ i . r ll.vr .n inc.ntile schrnx,wh.r. p.rt of tho ris. is a bonus brnal on p.rtortuan(e, rcsultsor profits

Pertormance-related

pay

Th. pros xnd consof optnD 3 above(ie pe orm.Dce{elded piy), ar. \!ell known: Pros lt providcs r si.ong nriti!ition to work well, collcagu.s know who isn't pullirg their wcight rnd resentit if thesc Peoplcar. p.fi the sanL'. Cons lt createstensidr bchlccn colleagues,pe#ornlanceturr be diifi.ult to measure,emplo)'c.ssiop focusingon qualit! of work and jnsteadjlrst fonrs on thosefacnrs d1!i affecipa\1 It is ofcourse possibleb gi\'. a bonls to elervone at the end of the v.ar ifcertain targeisare n1ct,and this olercomesthe objectionabout.ompetition undcrmining team$'ork.

Laws that affect pay Irom the 1r!man r.sour.es point of !ie(', anoiherimportant issre is complianccwith the lax,s ihat affNi pay Therema! The minimum rvagelan hourly rate for lor-pald " Overtime ('iine-and-a h.U' mav be mandaiorv ior some Equal Pal' for equal(ork (to combatdiscnminationbased on gende4age,race,etc).

2

A n n L a l e a v €d a y r( p a i dv a r d t o n ) Srckeav€ T me off for pregnancy(mdternty eave).b rth, mov ng hous€,elc Life nsurance- attractveto people with la.n ies P r i v d thee a l t hn 5 ! r a n c e D s . b i i t y n s u r a n r (ef o rs e r o u s , p e r r n a r e nI rn l u r e sr n a rc a l s e o n g terrn ossof n.ome) Pension plan (for r€tirement)

The €inployerlsua y sets!p the p an and makespayrnenlsnto t, but the empoyeecan a so rnake contrbulons

Workers' (ompensation

Proteclon againstossof ncome (and for medcal pdy.nents)due to a w o r k - r e a t e dn j u r y , . c cd € n to r nes5

Frangebenefits

Car Laprop..nob e device,etc N . 4 € . n b e r sohf pa h e a l t hc u b Empoyeediscounton the company! own products Reocationexpenses

E\ha benclitsofler great llexibiliiy in how you rcwnrd emplovecs.Reselch in the UK has shohn th hc mosr comnronbcnefitsoffe.eclby largc conpaDiesarc cmploycr pensionpl.ns, life insl,|ance,an.l an increasednumbcr ofannual lcavedavs.Other popular bencfiisrrludc n , . t r - . r ' n . l , 1 . ! e l o . n p n r. , p p ,{ G n r t r F - u , h J - - n i - r r .

34 PAYAIID BENEFITS

Exercises 34.1 tind a word in the text ooDositethat matcheseach definitionbelow.Thewords aooearin order. 1 (twa wotds)ofricelobs(atherthanfactoryjobs 2 (humanresaurce,cantnueto emplof keep 3

: <.r o< ^f

16^"1:r

(threewords)advantages anddisadvantages 5 (thrcewards;idiam)daingthe r shareof ihe work

34.4 Matcheachword in the box to its closestdefinition. bonus commission incone remuneratian rcyaw salary

overttne pe* wage vveiqhtinq

1 a regularamountof moneyth.t youearn- usedfor hourly / daily/w€eklypayments andb ue-coar jobsfusualtusec/ a reguar amountof rnoneythatyo! earn - lsed for monthlypayments andwh t€ collarlobs

6 fee .ngry because youarenttreatedfa fy

3 ' l 1 oer y p d r . d b y a p e 6 o r . a ' r o r g a rl a t o r o a c o . n r l

7 gradusly m.kingsomethingesseffective

4 (formd,payment th.t yougetfor yolr work

8 rhFp'acr(eo'obe)rng a aw 9 oderedby l.w l0 unfairtreatment Now do the samefor the words in the box opporite. 11 a conditon in whichsomeone isnl abeto usea paftoi ther bodypropery 12 (twa wotdi I|ingsthatyo! g€t in addtionto yourbasic packa9e cornpensatr0n 34.2 Makephrasesby matchingan item lrom ea(h ----\ 1 compensation '2 bargain ng 3lncentive 4 tfe 5 m nimum 6 materniy 7 pension 8 end-of'year

scheme packaqe wage

34.3 Write eachitem next to the corred definition belowt life insunn.e, pension, rctitement, 'I thet meafteryoupermanently working stop moneypaidto yourlarnly whenyoud e moneythatyoureceve regul.rlywhenyou Decause or yourage....... .

the rnoneythatsom€one is paidfor the extraho!rsthat theywo.k an amountof moneythat is p. d to somebody everyt me th€ysella product a payment thatsomeone 5!cha5a writeror muscran each time their work s lold of pedormed 9e$ exlramoneythatyou?epaidin addiion io yourusua y asa r€wdrd'o goodpeJo "lalcF salaf' especra yoJ$o l in a'rarea erlraarourr o' paygiverbecaLse whereitl expensive to live l0 something extrathatyougei froma lob,v€rymuchlike a fringebeneiit,but it canhaveno monetary vaue for example the chance to trave 34.5 Crossout the qle word in itali
1 a / an

aftractive,aveage,basic,campetitive, genercus,grcss,incenttve,monthly,net" statting,substantial

) a --sab\ ..

awatd band beneht.... ^*"e. pdctdge tdage.teaew x"te

h;-

2 back low, naternity,avettime,peffomance-related,p.y reward,severan@, si(k, take-hone 34.5 Fill in the missingleftersof the prepositionsbelow Her€ are th€ fetters you needt deeffinnnooooonrtuv. t havea goodjob.I m a salary.. . €40,000. 2 'm noi pad enough.lt'snot f.ir l'm .. . - . . pad. jt. Hes pad 3 He'spaidtoo mLrch. Hedoesf'tdeserve 4 Theypaymysaiary myaccountat the€ndof the paid 5 Thecompany

my aptop.

Seepage150for somediscussion topics. 73

,rrrr., in the workptace

@

The pievious two units coveredrecruitmeni,salaN and benefits.Theseare the coreareasof human rcsources(HR). Brt therea.e a whole vadet_vof other norkplace issues,both big and sn.ll, thai HR mana8ershare to deal s'ith. Small firrns often sort thesethhgs out inJormallv,but in a largeorganization a uion rcpreseniafi'emight becomeinlohed. Most of th€seareashale legal requnementstliat HR has to noniior and ihe papenr'orkrequired for this mav be a ia!8c part ol the irork of the HR department.

W O B X I N GH O U R SA N D O V E B T I M E T h e s e a r e L r s l ay c e a r n p r i n c p e b u t w h a ta b o u la s t u a l i o n whefe there s too mlch unpad unoilicia overlime? And is t aways c ear whelher train ng and lrave count as parl oi lhe iob and whelher working unches colnl as working hours? HF cou d become very unpopllar wtii oiher managers rf rt taes to enTorcethe rlles in lhese areas loo slrclly bLnwhnr Leove dnd dbsen.e Agan LheP.n(pLesarc cea dav5lwhat lrl reels cokrerfterforsevera hrppc.5 when a s.( ch happcnslsorcone s msng wo I be.alse or sc 'ous pe'so'a p.oblcmslWhat hiPpe.s f everfonewtrnl! 10 1akelner ho davsm ihe samenme . the slmme rn.l ihe e rt ro-onc eft n the ofllcel What lripPe.s 'i t hr! bc.ome the norm lor PcoPe10 lcile worl ea-y on Frdal ate noon bui .o$ fie ncw CEQ doesnt !kc t and wi.ts HR to do somelhng abod tl

Health

and safety

r ,\

'

r

. r .i

l

. r r : , i r r r , l i ! i : i l r : i : l : : , i: : _ r ' ' , i I : , , _- ._ ! : , : l r r i : ..- !,ii. ri r i , i1 r , i l r ): : ,: :.

Dealing bith hara.sstwrt and.bltuging This can begin jn very subue wavs - and tead ro a laige compensaiionaward againsi vou if not deatt wth prcperly

GRIIVANCE PRoCEoIJRtS An empLoyee may have concernsor comptajntsabout thejr work,emptoymeni terms,workjrqconditions or r€tationships with coLteagues. If so, they nraywant io discussthem or bdnq thern fornrattyto the atierhon of HR. Theywitt expect NR to addrcssand resolvethese gnevances. k tlre prccedurcfor dojngthis

' lhrl qr'^'mFond'rr snrr'"r'rr ol L','rr\"'' nlP 'lr"'r'rrri*'l - ;.. ..''':',."' ',, ''\'rcl'l'r' " {lghting' f'$d indudc *ltt,out noticc rhoe nighr warts t) an cltpl)vce il hiPPerrs theli. c(c Bui lfha( $ Nr' I rrr\I r'lr - | ! Nr , ' n u c : ' l r g a i r r ' r' c ' ' l r ' r j ' r ' l r

: , , u , " ' r l " r l ' P " Jrlr' u ' ' ' l ' r r 'r?' r ' ' h c l .'I",,, r" '"ri' I i."."",''"'','" '''|l"'"" 'r"'."' 'l ^ 'n rrr'lr'r'' lrl i q"..' " "" ".u',t,c" i\{r:. IloN are ilNse rvr rngs gtrcr':

'1

"

!s!.iv rh./. tr trot..tror !nd.r rhe rw t.nj dis.rnrfilon o n r f l l g r . ! r i d 5o r : . r , r ; ( . , . l l l r . o r i ! . n n i . f r r t d r a b t r y ' j c r l a o r . . r < r r o n i c l. l . . , . r C .. r . l dj,xrr ,il!5 jlr \tn!d

) t , d c cd . . j . . r d r . o r . n f r . t r , c . tv \ ! c r r t r ow o l k l o r cbco r p j r h . i . r . c u n e . r ! i r ' o u r c .w t i i . r l r h r . r L e . . . t , i r r th c r c m ! f r D . . o r n r n c f (b5. h f d p . . / r . 5 b . L l i \t h , l , 1 h . ! . r r , . r o rn r e l o b

r , 1 . ,!

Drr4rl lr: r I

74

:

Discipli nan and tl isntissalptoccdures

Work-life balance hoLr9or ob lor workinqflexible Arcthereopportunilles ro \ n d l n q . l n r r m , g n lb F r r r o o ' i a n l

'otseo-e ^c-r'0

- o " , " o ' . p " r a n ' F r u - 1 n gL ow o 4 ' l r e ' io *o r r.that one pe6on a new baby.lf HRcre.testhe precedent do vou slop .an wo* lrom homeone dav a week' how t? everyofewantlnqto do

what happens il an employee sees evidenceol Iraud or bribery? k there a procedlre ,or them to report this conlidentially?What happens il they do report il, and then reelthey're beingvictimizedalterwardsIor betrayingtheir colleagues?What happens it th.y ieel il! being cov€red up by the conpany, that there is no use reporting il internally.dd so they wanr ro nake it public? Inc.e6ing\r govemnents are putting in place legislationto p.orect whlstle blow€rs,dd HR will have to enlofce lhis.

35 I55UESIN THEWORKPLACE

Exercises 35.1 Find a word in the text opposite that match€s each definition below The words appear in order: Iirst down the left collmn, then down the right. 1 an organzaton that r€presents ihe workers n a partic! ar Inousrry 2 ."leoeooeobF)" lFo ds 3 a periodol tln€ wh€n you re allowedto be awaylrom work 4 (alwaysusedwith the )what s lsual, averag€or expeCred s fixed by dw 6 the practiceol keepingrh nqs aroundyou c e:n 1 (twa watds;idiom)da somethnq quicklyand r a r e e s s yb, e c a l s ey o u w d n l l o s a v e1 m eo r m o n e y 8 b € h a v o uw r h i c h s d e b e r a t e yu n p l e a s a fal ,n d w h c h calrsessomebodyto te€l upset 9 i n g h l e n r n sqo m € o n e or rhrcalen qto hultthem, e s p e c . l yr f t h e y ' r es m dl e ro r w e a k e r 10 fhvo words)rnon€yrhat a coLrddecldesEhoud be givento someon€becdusethey haveluflered harm II

forma, a .omp a nl that an employeemakesto an employ€rabolt un{ar trealnlent 1 2 ( f o r m a ,p a ya t t e n t o nt o a p . o be m d n d t r y t o d e a l w l h I 13 lormallyask someonen authorty ro changetheir decison 14 the fact that verydifferentpeope ex n w(h,n a group 1 5 a n a c t o ni f t h ep a n t h a t s u t e d a s a n e x a m p € w h e ns o m e o n w e a n l st o d o t h e s a m et h n q a g an 16 repo( nq i egd a.tviies within your own organizationto s o m e o n en a u t h o r t y 35.2 Make phrasesby matching an item from ea(h column. a precedent --. 2 sort Inprncp,e \ 3 nvolve

something out nformay a unon represeniat ve

5 becear 6 7 8 9

andresovea grevan.e the fLrles nrictly warnngsto an €mployee

dpped gve promote dddress

35.3 Makephrasesby matding an item from €achcolumn. 1 qrievance \

2 3 healthand

leqa 5 6 qross

\

3s.4 Underlinethe correctwords in itali
(^maihinn

seepage150for rom€discussion topics. Honanfesources 75

Your background and career , . ;a I mjoyed high s.hool - my grades were good ad I got i$'oh'ed jn a loi of extracuricular activihes. At the age of ei8hteenI went io uiversity (AmE college/ miv€lsiiy).I got a placeat ihe lniversity in ml' home town, allhough someofny hends moved away to oih€r miversities ed lived on campus.At first I haicd ii, and I nearly dropped out after a few months. But aftcr a while I made fliends and got used to wriiing all ihe essays(AmE papers).Money was a problem- I had no grani or other financialaid - and I wolked my rvay throuilh collegeby donrg a little parftime work whencyef I could. My dcg.cc was in econofrics,an.1 my main subject(AnE majo, was intcrnationaltlide. The lecturers (AnE professors)werc sood and I eDjoyedihc cou.se(AnE program)ver),much.l spcnt the nliddle year of thc cou.scworknrs as an inicfn in a bank ihat was really uscful. It was thc only piri rvhcre I got some rcal vocationalbanrnlg.At ihc cnd of the courseI thouBhi about stayin8 on b do a Masic.s,but I dccidedthat the life of d postgra.tratedidn't.call]' jntcrcst mc.It was time io cni.r thc world of work. Aftcr graduaiing,it took m. scvgal months to find a job. I was shorilisicd for a fow jobs, bui thev never callcd mo back for a sccondinte^,icw. EventuaUy I was offercd a junior position in ihe intcmationaldeparhnent

Verb fons

o t a b a n t . B e c a u coe m ) I n l e - . h r p { h u ' l p l d c e m e _ . ) l knerv more or less what to expect in terms of the woiking enliroment. I spentfive yearsthere,learningthe business ed was promoted to SeniorAnalysiin my late iwenties. That time in my ljfe was really hectic I was iiving ihe life of a qpical young, singlepersonin the financialservicessecior I worked haid and partied hard. I ofien stayedat the officernfil eighi in the evening,and was exhalsted at the weekends.By the age of thiltl' I was bumi out. I neededsomepersonalspaceio decidewhere my life was going, and I decidedto iakc a year off.I gaye in my noticeand quii myjob. I had savedup quitc a lot of money from ihe job in thc bank, and so I was able to go ilavcllinS. I backp:ckedmy r!.y around India and South-E.stAsiannd had somecr.zy timcs. Bui I knew that I had io settledown one da).,and I wanted to start a family.So I cnmc home and staried to look fof work a8ah. I .eSistercdlvith somc onlinc employmcntagcncies,and thcy found a vacancyalmost inmcdiaiely. It was in a similar tield as before,but lesshigh'pressure

for talking about your career

Past simple: completed actions and situations in the past Singleactions: igot a p/aceat unive6in/. A sequence ol single.ctions:I ioined thecanpanyin Februaryfinishedmy trainingafterfourweeks, and startedthejab prcpelyin March SitLratons that astedfor somenme:/ rivedon Gnpu' Past continuous: adions and situation5 in progress in the past (ie ba(kground events) 1was living the life af a typicalyoung personin the hnancese.tar. 1was worting as a waitressin a cacktailbar. Past perfect: making it clear that one a(tion or event in the past happened before another t had saved up maneyfrom thejab in the bank,and so . . t had aheady quit ny job when they ... Combination: background situation + actions during this time My salarywat incrcasingyearby yearandsa I bought an apartnent. WhileI was wo*ing asa salesassistant, anathercompanyinvited ne ta join them Combination: one action before another I had savedup naney andso I was able to 90 travelling. I had aheady quit myjob when theyannoun.ed thejab cuts 76

36 YOUR BACKGROUND AND CARE€R

Exercises 36.1 Finda word in th€ text oppositethat match€seach definitionbelow.Thewords appearin order. 1 ettersor numbeEth.t showthe qualityof a nud€nr3 2 fhro r1'ords) thingsthata nudenrdo€sat schoolor colleg€ thatar€not partof the course 3 (phrcsaiveh) eft lniversty beloreth€ (ourte had fnirhed moneyq ven by someone,especi.ly the qovernment,for a p a r t c L r apr l r p o s eG m a r t o s c h o l a E h i pw, h c h o n l y ref€u to moneyfor study) a courseoi nudy at a university, or the qualifcaton that

youger 6 a studentwhoworksin a job in orderto getexperence 7 reatingto th€!k lsyouneedfor a padicuarjob 8 fphrasal verb)continlrngto do a job or a cou|s€afterthe expected timeof leavng yourstudres 9 completing at universty andgettinga degre€ 10 busy; lul ol actvny 11 (twowordsJ verytiredandwith no energybecause of workng too hardlor too lonq 12 (fau wotds)lo d my erilployerthat I wouldbe eavingmy job soon;resgned 'J ra\e ed lor opd,.ra.$ rho-lr-cf _no-e). carO'ng everyth ng needed for fe in onebag 14 (phtasalverb) sla vinga quletlife n oneplace,especially wnenyougel marrred 36.2 Make phrase!by matchingan item from each

36.4 ComDlete the sentences with the words in the box. Allthe words are usedwith'career'. chasen concentrcteon oppanunntes ptonEtnq

1 Youcan a qoodcareerfor yourself asa l.wyer Butyou'I hav€to worka ot. Forthe nextfew years yo!r career, notyour socal life.

2 li you havech dr€n,you ll needto take a career . Butdont worry- yolr sk s are and 'm sur€thatyo!r careerw wh€nyoure n yolr forties. 3 C h a n gn g f r o mf i n d n c a l c o n stua n i t o y o g at e a c h €ifs a I t m e a n st h a t y o u r

careern financewil 4 PF!. b,ig!'l yo.n9 Tdr !îl'

"

very

careerrnfrontot h m. I m surehe'llrnoveup the career very qu cKy 5 Sheachleveda ol in her

tookadvantage ol the rnanycareer avalabein lT prolectmanagement andwentrightto the top of h€rprofession. 36.5 Completeth€sememoriesby putting the verbsinto the corrcct{orm: pastsimple,pastcontin{rousor past perlect. ,)it remember thatoccasion verywe - t waswh e I , l*o,k) at Omnte t was n the (iust/fii sh) unch(write)a reportal rnydesk (get)an SMSon my mobilephone- it { " s l o r . f e a o h u - u r cg g e l o j .n / r r r g _ l e r o d l r ' " r

I qet a p a(e-------\ --at 2 drop oui

throughcolleqe un versity

3 workyourway

( l s i e n )a n d t h e n '

5 beshort-lsted a vacancyalmon immedidtely

7 regster 8 lind

wth an on ne agency

36.3 The third paragraphoppositeusesthe word 'eventually'.Thisis a lalse friend in manylanguages. Ti(k (/) the E!9 correctmeaningof 'eventually' lrom the

2 alternativelyf

(be)verysurprised bec.useI (not/contaci)any agences likethai (wat) untI no-one . (cai)them l'm sureihey ro (wait)for my.. because iheywereimm€diat€ly veryfriendly. They (aready/ findout)a or aboui me by doing a Gooqlesearchon my name,and that they _ '' (*ant)tohdvedmeetngwihm€..'." s e e p a g e1 5 0 f o r 5 o m ed i s c u s s i o tno p i c s .

4 6fter a lonq time

You and your job

77

Your company n'Len you descdbe you compmt you may choose to give a briet infornal introduction or a full, fomal p.eFniation, depending on the contexi. the five headings below cover the importani areasto include nr a tull presentation.

1 History,size and structure Startwith ihe name and mainbrsiness actility of your company, and the se.tor in which you operate (eg the consumergoodssector/the businessklbusiness sector). Saywhere ihe head officeis located.Bnefly menhon the company'sorigins, then coler key milestones(including my major restructuling)and its size and structrre today. 'Size'might includc the number of employees,or things like r h c , ' u r b e r o f . t o n - A t e . h n i c J li n J i , d r i . no f , o m p . u ) s , / e is yo!r market capitalizaiion(marketcap).'Structurc'might include rcfclcnccto a businessgroup that owns seleral c J m P r r i c s o. r t o \ u b r d r J r i e . o r r o - F p r r d r ed r \ F i o n " (eg organizedby ploduct caiegories). At this poini you may want to briefly describeihe organizationcha.t (o.ganigram)ofyour company.Bc carcfrll: this can bc vcry boringl

:l Market Talk aboui the comtries jn which you opeiate. Also ialk about your tlTical customers {for a siddard prcduct) or clients(when the produci is specialtytallored).This may include a reference to the market segmcnt in which yo!

r.lKey numbers Key ntnbers include your amual turnover (= rcvenue),your netprofit after tar (- netincome),and yourmarket share.For an intemationalcompant breik down thc revenueaccording io regionsor countries.It's also inte.estint kr know which Linesconiriblte most to your revenue.

li Trends and plans This is likely to be ihe pari ofthe presentationihat s'ill S c n e r r t ct h e m n s ti n t e r e i . l - l h e o \ . r u 1 1m r r l e r g r o w i n go r shrinkinS?Why? What new technolo8jesor so.ial trendsarc shapingyour market?hrhat dru yoficompanyh plans for Fjnall, you mny want io talk aboutyour ownjob. Seeunit 38.

7 Main products / services

SWOTanalysis

Give an overview ofyour product.angc, inchdinS an), compeiitiveadvantages.Noto thai nowadavsthereis Iittle diffcrenc€bctwcen thc words 'produci' and 'se'r!ice'(cg ),ou c a Dh a v e ' f i n a n c i .pl r o d u c t s ' ) .

A differeni way to prcfile a companyis by mcansofa SWOT an.lysis. An cxamplc is givcn bclow,but it willbc different

STRENGTHS of the company

WEAKNESSTS of the company

products:quatjty,vaLue, retiabitity promising product pipeline process modern manufacluring equipment andefficient eflicientdistributionneiwork strongcashfLow

snaltrnarket share weakbrandimage gapsrn product range poormanagemeni informationsystems insufficient satespeople lowspending on innovalion andR&D

morat€, commitment, teadership 0PP0RTUNITIES in the market

THREATS in the market

majornewcontracts growthin the o(istingmarket

.hF:nFr ("h

devetopments in technotogy competito19'mistakes partnerships, agencies, distribution

78

cnan$ngconsumer tastes slovrdown in the economy < '..p(< .f 4.i(tinn

.^mncr

^r(

entryof n€wcomp€tjtors potjticat/ teqislaiiv€etrects a shotageof keyrdwmat€nak/ pats / conrponents

37 YOURCOMPANY

Exercises 37.1 Finda word in the text oDDosite that matd€s ea
madelor a partcuar purpose or person consderingsor.ethng asa whole;lncluding every,thing 9 becomng smaller

11 thelevelofconfdence andpositve feelings that peoplehave,especia y peoplewho worktogether 12 the hardworkafd loyaltythatsomeo.egivesto an or9anrzatron 13 (two words)a siuationwhenlew newbuye6canbe 14 not h.vingenoughof somethng; ack 37.2 Makephrasesby matding an item lrom ea(h produCl 2 product 3 a siandard

D

5 R &

ranqe

SWOT d strbuton cosl s!bsttute annual

affotdable businssnodel ,.rtt-"r r"tt"t 1 cantinued expansion fountlet n.ome intlustrystandard pinelacatians state-af-the-art tunovs

Zara,partof the InditexGrcup,is oneof the worldSfastest growing.FiailFtr, wfh .i nrovatNeI thatallowsit to compete with qu. ity brandsbut at rnuch prices. r The .. of Zara,AmancoOrtega,opened thefirstZarastoren A Coruna,Spain,n 1975.lt was a greatsuccess, andOrtegastartedopeningmoreZara sloresn Spain. Workng with computer expertlos6lvarla Castellano th€ycreated'instant fashonj - the company reduced th€ tim€iromd€sgnto distrbutionto lusi 10to (Thea 15days. at that trmewas severa pfoducton

Now do the samefor words in the SWOTtable. 10 (twowords)products thatareplanned andwill be

6 7 8 9 10

37.3 Completethe companypresentationabout zara with the words and phrasesin the box. Checkany unknownwords in a dictionary

proced!res, andw.rehousing andinstaledcomputerized inventory systems to inkthe stores to thefactories. All of thism€antthattheywereableto respond veryqLrickly to changes in 5 D!ringthe 1990sndrtexentered a steadystreamof new markets, andby 2000hadcovered Today, mostof ELrrope. Zara: present 1nover70 countres, with a networkof 1.200store5 i. 7 in majofcities ForthewholelnditexGroup(whichncudesMasrmo Dutti,PullandBear,Eershka andotherchain,annua 3 isaround10,000m lioneufos,with a nete of about1,000m llion.Theiotal relarlareaof theGroJprsapp'oa(h19 2.000.000 rqJ. e metres. As a measure ol the company!success, market capitali2ation hasinc.eased by 200%sinceit waslid quoted. Pldns'or the'utJrcincluopo in theAsia'Pacific Region, andthe openingof more'Zara Home'stores, sellingbedrcom, baihroom.nd livng room products. seepage150for somedis.us.iontopics.

advant6ges

You and yo!!rjob

79

55 I woik

for a medim-sized, fmlly-owned business. We offer spe.ialized seri.es to the coslruction industry. I Personaly spsialize in lighling istallaiiom irEide buiidings my backSloud is in ele.trical enginedng. l'Dl responsible for the initial contact with the client - I visit them at their offices and discuss then needs. My role is to talk to ihe ai:hitects and the developers, to try to persuade rhem of the impo ance of modem lighting design inside a building. I show them how it cm create a good working atmosphere and add to a compmy's image. I explain our track record in tlus treld dnd .hoa them d portrolio or olher liShtirS installations that we've done. Once the initial contacthas be€nmade and the.lient is rcady for a detailedproposal,I take a back seatfora while. Somebodyelselook at the detailedspec'ficatios for the installation and then another colleague researchesthe cost of the labour and materials. Those two people work under me, and I supervisethei work quite closely.Finally our legal departm€nt draws up the proposal. I oversee the whole process and sign off the proposal before it's sent to ihe client. Thereare a number ofolher people that I liais€with on a day+o-daybasis.We have an Office Managerwho handles incoming calls,orSanizesmy scheduleand kccps on top of the filinS a.d administration.And ihen outsidethe company I have closecontactwith the alchiteciEand with the projeci managementteamresponsiblefor the whole conskuction. I report to ihe Head of BusinessDevelopmenLand she reportsdirectly to the CEO,so thereare not many layersin ihe company and it's not at all bureaucratic. My work is challenging,ofcourse,becauseit involvesboth a sales function and a technical function - and every project is different. But the atmosphere m the office is great. It's very informal and I'm on first-name terms with everyone, even the CEO. So that's me. Now about my wife. We[, she work for a large, multinational banl with its head office in Switzerland. It's a back-office tuaction she work in the lotu department. Her job involves checking the.redit history or compdies who want to boff)w money, dd then assessing the risk of the tom. She deals with both smatl and medim enterprises. She's doing we - she w6 promoted last y€d. Now she's in charge of a sma tem of fou people, so there\ a matuBemcnrdnrpEion to herjob ds well, it's nol simply nmber-crhctilnC. tt

80

Describing your job Adiedives to des
to be in wo* / out of work yau rc ill) to be olt work (because I leave for wo* at 7 3Aam.t go to work bt vair. I gct to wo* at about 8.45an, I'm at woft until 6pn.

3A YOURjOB

Exercises 34.1 Finda word in the text oppositethat matcheseach definitionbelow.Thewords appearin order. 1 (fwowords)ihe thingsthata pe6onor organization has donein the oan whichshowhowwellthevhavedone 2 (phrasalvek) p'eparcsa ff tten document(e9a lin, plan, 3 be in chargeof a grolp of workeGandcheckthattheir wo l i. donFsaikractory {- supetube' 4 (phrasal verb)off (i.ly agreeto something 5 exchangenformation sothateveryone knowswhat is nappenrng 6 ftwo rvords) the process of worknq with . lot ot numbeE andcalculating resuts 38.2 Underlinethe correctwords in italics. 1 A job that s chal/enging / demardlrgs difficult,buralso nterest youhaveto usea lot of sklll;a job that ng becaLrse s challenging / demanding needs.lot of yourtimeand attention, but isn'tnecessarily etherdifiicultof lnteresting. 2 fhe pftase'mylinemanager'l'mybosr'couldbe a little 1{o'ral. p..Tic-la'y f rhal pe.sor5 pre,ell(egbe,! ntroduced by yo!),so inneadwecan9ay'mylinemanaget' 3 Thewordcol/eague / coworker is morccommonin Europe; the \\atd calleague/ cowotkeris morecommonin the lJs 4 I6e watd caunteeaft / opposifenumberrefersto someone with the samejob asyouin anothe.ocanization; theword I appatiter,Jrber .rlayhaveLhesanemeanrng, carnLerpan y usedfor sorneone but is a so common in yourown organization who hasthe samejob but in a differentplace (ega dliferentcountry). 38.3 Complete1-3 with endingsa-<. 1 lf yougef downto a iask,yo! ... ll 2 lf yougef on lvdha task,you... r l 3 lf youlufll a task,you.. . ]

38.5 Coverthe oppositepagewith a pieceof paper. Underlinethe correctwods in italics. 1 lwotk fot / on I to a family-owned busness. 2 | spe.ialze in / on / to lightingnstallaiions. 3 My backgrcund is forl,, / w,thenqineerlng. 4 l'm rcsponsible about/ for / of the nital contactwlth the 5 My rclei! forlln /to talkto the drchitects. 6 Somebody elselooksatl on / to the detailed specifcations. 7 Therearca numberof otherpeoplethat I liasefrom/ fo / wth on a day-to-day basis. 8 lreportfor / to / underthe Headoi Business Deveopmenl. 9 Mywiie worksn /o]1/ to the loansdepalrrnent. t 0 shedealsoflo/r / wtfi bothsmallandmed!m l1 Shebin charce lrom/ofl to a smalltearn. project. 12 1'mwotklngfor / an / to an interesting - lspenda lotof timeworklng l3 l'ma journalist atl forlo, myo{un.frcmhame/ fromthehane. 14 My brother s off wa* / out of wa* - he'sbeer unemployed ior iwo months.My sisteriso# lrork /out of !.r/o/k today- she!got a badcold. l5 tverymorningI leaveiot wotk/ thewa* .11 .30am. I arive to /9€l to workat about8.45am.'mat / n work until6pm. 16 Herjobinvolves checklng / io checkthe credt historyof 38.5 write a ti
a complete it successfu ly. b startdoingit sefouslyor with effort. c contnueafterstoppinq for a shortiime. 38.4 Make phrasesby matding an item from each

II .:r"--\ taKE J OVerSee 4 h.ndle

\ \

\

on top of thefiling a backseatfor a while nitialcontactwith a client

5 keep incoming calls

Youandyouriob 81

Telephoning - making and taking calls In the dialog1rebelor{ Ccline Perez(CP)callsMaunce Cassidy(Mc)on his direct line.

Noiice at tine I horL the reccpiionistgnes a lery turll Noiice at llne t hos,Gianfran.o answershis inrena,

N,4C: Mauf ce C:ssidy cP Peo Mdur." tt..r.cprrFD","/p"".r, N,4C: Ce ne - how n ce to h€arirom youl How are thinqs CP Fne, fine. Malrice s th s a good l,nreto 1: k? Are you in the nr dd e of something? N4C No, now is good lun et me c osedown ih s d o c l m e n tl ' v eb e e nw o r k i n go n O K w h a t c a nI d o

Answer the phone (rerepton si) Goodmorrrng,ICTlercsatpeakinqHaw

CP: The r€asonI m ca ng rs bec.uie of the f rst qlad€r s ae si g u r e sH a v ey o ! s e e nt h e m ? N4C:Yes,I hdve 5a es n Frdncewere beow target,right? C P E x . c t y T h es ae s r e p o r d t o e s nt g v e a n ye x p l a n aotn for that thouqht you m ght havesome deas \ . 4 C : d o h a v es o m er d e a sb, u t i d i k e1 l rs p e a ki o A n n a n vlarkel n9 abolt t can get backto you tomoffow

Connect lhe.aller Ptease hald while I try to.annect you l'!t try het nunbe. tar you

CP: S!re. MC OK, leaverl w th me I cdllyou tornorrowafternoon CP: Great I d appreciatethat Thanksfor your tlme. By€. N o l i . c h o w M n u r i . os l . r r t sl h . c o n y . r s i t n n i n n h i e n d l ! w . r y . r lti n . 3 . Notic. how Crlinc chc.ks thni ih. olher pdson h.s Irm Noticc nt lin. l'1 how Celnlc lses n irc.l t.nguigc (ic pisl f().nrs:rrrr,!l,rlrl.!rr) n) encouragt NIC k) gire i n l a n n r t n r l s h ed o c s nt h . n t h i n r n ) i e . l u n d e ra n ! Ii the scconddi.logue bekN Vonila phoncsr compinl n) isk aboul lhojr Nr.ket kseirch sc^ ic.s. Sh. speiks fin n)

R e c e p t on G o o dm o r n n q ,I C TC o m m L r n c a t o nT5e r e ! . s p e a kn g . H o wc a n h e l py o u ? N / o nk a :O h , q o o dm o r nn g I d k e r o s p e . kr o l o m e o n e n yoLrrmarketresear.hdepartmenr. Re.eption6t:Can haveyouf name,p edse? Mon ka: Yes,t\ l\4onlkaWeber R e r e p t i o n i rOt :K , M o f k a , p e a s eh o d w h € t r r y t o GlanfrancoMdrket Relear.h Granfranco speaking M o n i k aO r h , h e o M y n a m es M o n k a W e b e r f r o m sprinqerVleda and 'm ca ling to aska f€w quesrions aDolrlyo!r marketresearch servces. G anfranco:Of colrse, Monika.How €an helpyou? \.4onka: d like to know .

E2

fhe phrases you need tg

I L"1a

o\o.o

h.a

.d.-

Dapt

^.1t

\

t

5ev rj'ho'5 calling + .,vhy rhts I speaking / My nane is Can t speakta . pleasa? td ttketa tpeak to sarrean. about Ihe rcasont m Glhng is t n .alling ta aska few qu€srionrabour I m .alhnq tn (anne(tian wnh r:reetings He at Haw ate youl How nt.e ta heatlrcn yout How arc things)n PatisT Ah! tdt.Jn'trccagnizeyour vote! fhanks fat caling - dtd you get ny en l? Che.li it's a good timc ls ths a gaad tme ta talk? Arc you tn the niddle of sa.nethinq? Da yau havea tecond? E n € 1t h € c a l l ls Ihercanythtngeke I can helplau wnh taday) Thankstar Glltng / lt's been nice talktnq ta you Bye fhanks tar yout tine AK. leave it vlith ne. l ll .all yao tonorravr' aft-.rnoan

- MAKING AND TAKINGCALL5 39 TELEPHONING

Exercises 39.1 Covertheoppositepagewith a pieceot paper. Now try to remembefthe words below (Thelan letteE have beengiven.) 1 Heo Maurce, s s Celn€Perez g 2 Ce ne how youl e to r from 3lsthsa d e t o i a k ?A r ey o ui n t h e something? 4 lust et rn€ se wn thisdocument l'vebeenworking 5 The

on I'mca ng s

seof thefrrslquarter

6 Thesalesrepo.tdoesn'tgiveany€xplanaton for that. ghl you ght havesomeid€ar. 7 Can t ck o you(= contactyouagain)tomorow 8 OK, veit 9 Gr€at- l'd

th m€. arerhat

Removethe paperand
: irno*yo,rl"

n,ii'. ",",l,ilJ

39.4 cover the oppositepagewith a pieceof pap€r. Underlinethe alternativein itali6 below that is more I Goodmorninq,lcI Teresa speakiry.CanI helpyou?/ How canI helpyau? 2 I wantto speak / I d liketo speakto someonen your marketres€arch d€partment. 3 PleaseGn I haveyov nane? / CanI pleasehaveyaur nane? / CanI haveyour name,please? 4 /m //t3 Monik.Weber 5 OK,peateholdI waitin rne whie try to connect you. 6 Gianfran@speaking/ l'n cianf?nca 7 I m ca ingIa knaw/ aska few quenions of / aboutyolr marketr€searcn servc€s. 8 Oi co'r6e,Monika.Howcan/ wauld helpyau? 39.5 took at phrasesa-e then markthe statements belowTrue(T)or Fals€(F). a Id rketo speak to .. b Canlspeakto ..? c Couldspeak 10.. ? d I mlsl9peak to ... e I needto speakto . . 1 In practce,phrases a-c arernoreor lessihe sarne probably rhe istener wont evennoticeT / F 2 Phrase d s directandlrgent,bLrts OK n busness.T / F 3 Phrase e s directandLrrgenl, but s OK n busnessT / F 39.6 look at phras€sa-d then answerthe questions a fhereason l'mcalling ir ... yo! coud helpme.I d iketo speaklo 5or.eone b Perhaps about c l'm callingLnconneciion with ... d don'tknow I l'm throuqhio the rightdepartment, but I m calljnqto aska lew quenionsabolt .. r whch two phrasesmmedateygiverhereason ior yourcall? 2 Whichtwo phrases asktor hep or general

nrorm'tion? Readthe diaoqueson page82 a oud.Do t by yo!6elf or wiih a colleagle(changnq roesat the end).Practseseverat mes

39.7 F 1 Speakingpracti@:listenand repeat.R€p€at eachphraseyou hearand then listento check.

Telephoning 33

Telephoning - messages In thedialoguebelouthecallcr(C)i{dts to speakto (R)iakcsihe someone who isn'tavailable. Thcrecepiionist

Noiice ai line t0 how the call€. sa1.sthc namesbeture sp.liing them. Henring the whole wo.d fi.st helps the Noiicc at lhe 1{ horv the se.ietary checksby repe.ting the

R: C: R: C: R:

CT'T€resa speakng. HowcdnI hep you? 'd lk€ to speak pease to Stefan t pska, 'lltryhisnlmberfor you.,\_\.\lleo? H eo . 'm not qettinganyreply.lun bearwith mefor a moment wh e ltry dnother number

c:

OK 'm sorry,'nr nol h.vin!

c: c:

c

dny uck he must be n a meetrnq.WoLrd you like hisvo cem. ? No, i needto talk to h m p€6on. ly. I c a na s kh r n rt o . a y o u b d r k Yes,pleasedo th.t ts FrdnkHaydenher€ He knows O K ,l l l n m d k e . n o t eo l y o u rn a m e .F r a n kH a y d e n . l sl h a tw t h a n ' r o r . n ' € a t t h ee n d ? l l 5a n e , ' e a s n E q y p l . H A Y D E N . O K ,M r H a y d e n',l l t e h r . a ss o o na s h e c o m e so u t

or ine m€etn9 C Thankyou.coodbye Noli.f hor{ tlrc ..r11(r'.l,rfifles lhe spclliig b\ !snrg i pl.c.

lf thc nc\t dirli)gue lh. c.rll.f (C) ilcts thnNgh k

C:

S:

C: 5: C: Sr C: S c

,

r .

H e o , c a n l s p e a k t o s l e f : n L r p s k ap, l e a s e T

'm sorry,Stelant pska s o!1 of rhe otficethis alternoon.Th s s his secretaryspeakinqWo! d yo! ke to eavea rnessage? Yespledse.Can you ask hiftrto ca nre bacl ) O K . L e im e l u s tg € i a p e n Rq h t C a ny o u q v e m e y o u rn a m ea n d n u m b e r ? Y e s ,t s E a V o q ea a r C a f y o us p e l l t h a t ? l t ' sE l d ,E d o u be L ' A ,V o q e . a r V - O - G - E - L - d o ! A b l-eR Andthenlmber? l t 3 0 0 : 1 , t h a t ' sr h e c o d ef o r r h e N € t h e r l a n d2!0, 5 1 2

6149 OK,sotlrat's EllaVogeaar on 003120 5126149. That!r qht. Anythrng e se? No,thdtSa . lun askh m to.all me:s soonas possble lt'san urgentmatter. 5 : I understand. I mdkesurehe getsthe message. c Thankyou Goodbye 5 : GoodbyeThankyoufor callifq. 5 C 5 f

Nohce hos the receptionistand the secretaryfinish the dirl.rgucsb) promising n.iion (I'll ..).

The phrases you need E8 .,rit ::nr ;.ll:- i. .r.,:;'i -tustbearwith ne fot a r.roment CanI put you an haid? Right. sony ta keepyau v|aiting. ::::.r.: - :.r,_:!.n. i5 ,.rr.,r.il;ir!a He nust be in a rneeting sany. shesot)t af the offi.e /on anathetcall. .r.ir i.: i.isrrnat;on What\ t tn canne(tianwnh? CanyoU qrvene yo1r name? aan I takeyout number) ] e.\Je. $. !.:n r.je Do yau know havr'lanq he l be? C.r//€rv€ampssaqer Thists / lt\ | Lly nar/,eB Frank Hayden Canyau askhm to Gll me back? r.ii". :re::ia!r€ waul.l you lke ta leavea netsage) Let ne lust get a pen Can yau spel that (far ne)? ls that wnh an t or an e ? tt that t as in ttaly,ar'e as tn Egtpta Let ne read that ba.k tn you a11rnis...1).r1 t 11te| htm as saanas he.anes aut af the neetlng 111nake sure he gets the nessage

40 'ELEPHOI\IING- MEssAGES

Exercises 4O.1 Coverthe oppositepagewith a pie
call leave need put

let nake read speak

40.3 Put the wod5 in the right order.Write the answers underthe corred headingbelow. a Canmeto askyoubackhimcall? b Doyoube he'llkfow how onq? c Holdcheck.juston a moment l . d l'll surethe mesrage makeshegets. e l'm sorrysh€'smaiern1yleaveblt on. I Right,youwatinqto keepsorry g She's ai deskherat the momentnot. h Whatsconneclion with it in? Atk the callerto wait

(fi tst dialogueopposite) r c: 'd likero . ............fpqq-t lo srefanLipska. please. 'lltryhEnumber 2 you. 3 Just mefor a I'm not havinganyluck- he ....a meeting 5 to tall to him peEonally 6 7 l'lljust your a note It!'e as

Askfor information 5 (caller)

7

r.a

]

. Egypt.

(secanddialagueapposite) 9 Sr StefanLipsk.i5 the oificethisafternoon. l0 S WouldyoLl.ero a rressage) 1 1 S :. . . . . . . m ej l s tg e ta p e n . 12 C: That!ihe code the Netheands. 13 5: OK,sothatlEllaVogeaar 0031205126149. 14 CrJun............. ..... himto callmeassoonas 15 5l l'

1

After waiting 2 ......... Explainsomeoneis unavailable 3 ..

surehe getsthe message.

(fhe phrases you need) 16 Can you ...................... 17 Sorrysheb...................... anothercall. 18 Letme ................... -.-. that

hold?

40.2 Underlinethe correctwords;n italics. I 'llteI himas/5o soonaslseeh m. 2 Canyouspe itl that? 3 s \herc anything/ sonething else 4 rhankyau fot your calling/ calling.

to you

40.4 Putthe dialoguebetween5e
No,that! all.Thankyo! for yourhep. Goodbye. Hello.l'd liketo speakio Lena,pl€as€. lt3 aboutthe containers in Hamburg. Couldyouaskherto callme back? Yes,tha!3right. Yes,it'sJamesMatthews. Lenaknowrme

1(s)E 2 (c)i..3 6)[: 4 (c)L] s (s)n 6 (c)[] 7 i s ) l _8 ( c ) a e ( s ) f 1 0 ( c ) f -i 1t ( s ) t r1 2 ( c ) [ : Readth€ dialogues on page84 a oud.Do it by youEef or w th (chanqinqrolesat the end).Practseseveratrmes a colleaque

40.5 S 2 Speakingpracti(e:listenand repeat.Repeat eachphraseyou hearand then listento de(k.

Telephoning 85

QI (fl

Telenhoning- checking,clarifying, active listening

Erik (E)is on a business trip. In thedialoguebelorvhe calls hiscolleagleMaria(M) fromthelocaloffice. E: Maria?I m on a trainfromth€ aifporr.Myflght adved M : Erik?t's 6 re.lly bad line.You keepbreakingup. E : W € l e g o i n gt h r o u g ht u n n e l sl.w a s $ y i n g t h a t m y f ght affivedlate. I' haveto .hange plans M : Rghl. E Innead ot qoing to the hotelio chang€,I go straighi to the conlerencevenue. M : Sorry,ldidn't catchthat Do you want to changethe E: No, no. wa, ,aying don't havet me to change my coth€s at the hote .eed to go straightto the c o n l e r e n cvee n l e B l t . . H el o ? Mr He o? E: We goi .ut oll don't know what happenedYes,I needto 90 nra tht to the venu€ I seeyou at rhe regrstralon derk at two |\l: understand.'ll meetyou at two o clockat the registraton desk. Ei Exactly. M: Thanksfor ett ng me know E OK, I hav€to go now I haveanothercal to make.see you at two. 8ye. , Noticc dt liDe6 how Miria uscsacin'e listening. . Notice at lire t how M.ria asksfo. .epetitionand then s.ys i'hat she ihnrks shc hc.rd. /', Noiice at line l8 ho$' Maria rcpc.ts ihe ifrpo.tani

li ihencxtdialogueErikhassomegoodnewsfor M.ria. E: He o? Maria?lt'sErikhere Nl: Hi Erk Niceto hearfromyou.lt soundskeyou're havng . partylCanyouspeakup a bt? E: 'm callingfrorna renauraftli'sverynoisyin here- I (. ) can youhearme now? tLrstgo outside. M: E Good I waslustcallingto te I youthe newsaboutthe

contract. Wegot tl We qot the conrracrl M : Fantastlcl Th.t3wonderfu go ng io paytwo hundred E Th€y're andf lteen VI D d yousaytwo hundred andJifty- fve, zero? your E : In dreanrsl No,two hundrcdandfifteen- one, l;

86

live lt 5t givesusa verygoodmargn M : And didth€y.greeto thet meschedule we proposed? E : We , hadto movea litte on that in the discussions. Whatexacty do younreanby'movea little'?

:

'

E: lsaid that we coLrldstaarwork in eary N,4arch and Jinishthe lnstallatonby the midd e of Apr . tU: Now.wa t a minute Let me lun checkrhar I understand.Ar€ you sayng that we havejust six w€eksto do the who e lob? E: That3 riqht M: I se€ That'sgoing to be d fficult,you know E: Well,thee is a wdy we can do t Look,my battery is very low I th nk we'r€ qo ng to get cut off. l'll g v€ you a car romorrow. M: OK Greatnewsanylvdy.Thanksfor calllng.Bye.

Notice at line l2 how Maria chccksthe igure by saying ih. indiyidual nrmbers (it is vcrv casyto get confus.d by thi rt.. | /t Itt t y, f. h tt r/Jt)rI tt,at ). 'I Notice at line 17 how Ma.ia clarifiesa very spe.ific point. ; Notice at line 20 ho*, Maria checksby rephrasingihe klea in a different*'ay.

fhe phrases you need t8 Comprehension problems I n softy.l don t understan.l Canyau speaknare slawly,please. Ask for repetition Canyou tepeatthat? Sany,l didn t catchthat. Wouldyau mind sayng that again? Didyou sayfifty, five-zero) clarify Whatexa.tlydo yau nean by ? let 4e tu.t , h",l thatI u.de'[email protected]'ata\ts4ng CanI justga avetthatagain) Active listening Rtght/ lsee./lundeBtand. /AK Really?/ Thats intercsting 'cor'rn rg' t a rb '4\. 'ndrs'.gt1tl Ca't-,t (pleasure) Greatl/Fantartrc| / Thats wondeiul! Technicalproblems Canyou speakup a bit? Its a tea y bad line.Youkeepbteakingup My batteryis very|ov,r'.lthink \,,/erc going ta get cut off. ltsverynoisyin here Illjustga autslde.Canyau heal Returning after problems Wegat cut aff.ldon't knowwhathappened. Sotryabout that Wherewerewe?

- CHEC(ING.CLARIFYIN6.ACIIVE LISTENING 41 TELEPHONING

Exercises 4't.1 Coverthe oppositepagewith a pieceof paper. Now makephrasesby mat
Little wordi and noises I . . . . . . .. . . ..

(firstdialogueappasite)

2 Conlirming 3

iliary + pronoun 7 8 Keywords(asan echo) 9

Showingpleasure 5 6

Askingfor d€tai15 1l 12

1 tsarealy

b r e . k r n gu p .

t0 3 dLdnl 4 We got 5 Thanksfor 6 lraveto

(se.anddialagueopposite) 7 Canyouspeak 8 'lljustgo 9 Canyou 10 Whatexactly 11 Letmetrn 12 13 14 15 16

Areyousaying tvy battery We'r€go ng to l giveyou Thanks

go now bad ine

41.4 Usea word or phrasefrorn exercise41.3to Finda solution completethere lelephoneresponses. that usesone examplefrom eachcategoryex(ept 'Little ch€ckthat I underst.nd

Guess\,!hat! We got the

conlract Gfeiil

gei cut oif that...? torca ing.

4I.2 Fillin the letter5to makephrasalverbs.The definitionsare givento help you. 1 We got . d o nl I n o w w h a t h a p p e n € d /= 1te'rLpred n rfe rrddleo'the callbecause rhe ielephone I nestoppedworkn9) Canyo! abt? 3 i's a reallybad line You keep (= your voce is d vid ng inlo short separatenoises) 4 Can just lhai again? (= repeata seriesoi ih ngs n orderto ufde6tand them) 5 Please while I gei a pen (= wait a moment) 6 l / e b e F ,rlr i n g l o ( d l ' E . l b L , d n l (= succeedin talk nS to him by phone) Ques: ]f yau didn t know any af the phrasalverbsabove herc ate the nissing letters ta help you: 1 cffatu 2 aekppsu 3 abegiknptu 4 egaotv 5 dhlnao 6 egghhorltu 41.3 'Adive listeninq'is very important in a telephone call. Put the phrasesin the box under the most appropriate heading in the table at the top ofthe next

And My was that? Did you? Exactly Great! Half a millian eurcs! Hasshe? Right/ 1 see/ Sure. Sa what clidyou do? That\ ight. That'swandenul! vietnam! Yuh/ Mnm / Uh-huh.

wd , 'velearailat iley're moving alltheirproduction to Belorewe fin sh,dldyo! know thatbura hasbeenpromoted to Marketng D rector? so wrrit vou'ri siv ng s that goingto be saLes areprcbably belowtargetth s quaner 5 Anyway. oof.€deverylrhere

butlcouldnlfindth€ USBstckwlh rnypresentaiion on (. 41.5 Erik ends th€ first dialogue opposite by saying 'OK, I haveto go now.l have another callto make'. Put th€ words below into orderto make other phrasesto end a call. 1 l'll nop lo havethere.I havero se€me w.ling someone 2 li'r ta king io you nice been And 'll lend the emailyou wanied by deiails.Bye. 3 Anyway,you I won'i any keep onger 'm busyyou re sLrre. 4 ls ihere help you w th l can any,thinqelsetoday? Readthe dialogleson page85 aLoudD o n b yy o u B e to r w t h (changing a colleague rolesatthe end). Practise several Umes

41.5 € 3 Speakingpractice:listenand repeat.Repeat eachDhrasevou hearand then listento check

Telephoning 87

@

,.r"ononing- arranginga meeting

In the dialogu€belos'Monila (M) calk Ln'lu (L) to arrange

M : Hello.l'd liketo speakto Livu Baanescu, please

5p€akinq. M Oh,qoodmorningMy name's Monka Dannemann

ard lsentyouan emaill.st weekaboulthe constructon projectn Blcharest O". .er.o o.r,p.\i.p ro hedr'ror )oL.\,4o1r1" Yourema sounded very nterest nq AndI d kevery mlrchto meetyouto discLrss t further great.Whaldaywoud sut youT'll be n M : That's Bucharen lromthe e ghteenrh io rhelwentyj rst L : LetmelustcheckWhatabout]uesday the n n,"teenth? N,4:Thatsolrnds f ne Whdtt mewolld be qoodlor you? L Sha we raytwo prn? M : Idpfeferabt dterf youdont mrndCo! d we make L Pe ect We canmeether€in rnyoffce on Tuesday the n neteenth at threeo clock Vl Andwhereexactyisyouroffce? L: lts n ihe centre- t'svery€asyto getto. l l se.d an emaI to confrm the meetingandwith a I nk to olr website. You f nd a mapanda lot oi other nformatton on there. N/l:Verygood I lookfoMardro meetng youon the L: Bye,andthanks for callng. Noticcai linc4 ho{, Monikabcginsby r.lliring to lh. I.st Noticcni linc16how Lniu coffinDstlt'dctails. In thcnextdiak)gucLniu's sec.eidry(S)callsMonika(M) to cnange f 'le drrangcm.nts.

s: Goodmornifg.lsthatMonkaDdnnemann? M]

5 : Oh,he o MonikaThs s Mr BalanescLrs se(retaryl-le

M: 5:

askedmeio caI you.Unfo(!natelyMr Baanescu cant makethe meetingwth yoLron Tuesday th€ nineteenth Oh,I see Yes.Heapooglze! he hasto be olt of the office . I day Hesuggens thatyo! meetthefollowingday

M: Thedayafter?OK,that'sno problemWhattimeare youth nk n9 of? 5: Anyt mein th€ afternoon whenever tor is convenrent

88

M: How about threeo clockaga n? 5: Thdtsoundsf n€. Thr€eo clockon the twentreth iust giveyour nameat receptionand 'llcome down to meetyou. And 'm sorryaga n about the change. M: No probl€rnat al . Goodbye Notice at line 17 how the secreiaryapologizesagiln it the

Ihe pftrases you need !9 Refer to la5t contact I sentyau an enail last week We met at the canfercnceand you gave tneyaur Grd Open suggestion5 What time v|auldbe gaod far you? What tine arc you thinkng af? Concrete suggestions What abaut next TuestlayT How abaut 9 Feb.ua.y? (instead)? Could we make n Wauldeleventhjtty suit l= be (onvenientfor)you? Yes.that'sline I Thatsoundsfine. t d prcfet a bi latet if yau dan t nind Na, soffy,\Btt tn attaid)lcan t make)tthen. My schedulets qune full that day Conf'rm (day)at . (t me) Perfect We.an meet hercon I sendan enallto.anfim the d-atatls. Change arrangemente Unfartunately l .an t nake ne\t Tuesdayt'm out at' the ot ce all day.Haw about ...? We havean appalntmentlot truo,but I can t make I at Sanething urgent has rcne up. Can \,,/erctchedule? I n softyagainabout the change.I hope it s nat a

4 2 T E L E P H O N I N- GA R R A N G I N G A MEETING

Exercises 42.1 ln the telephone callbelow, Andy (A) cal15Bulent (B) to afrange a meeting. Completethe dialogue with the

a little rno.e depth be ny guen by the way n you don't mind nttpatl meet up shal we say soundstine suityou thinklngof thisis ttvo Dta.Ksaway A G o o dm o r nn g , s t h a t B u e n tG u l ? I Y€s. A Oh he o, I Andy CLrttn9 here We met at the conferencen lstanbullan week. We were ntroduced by [,']rArl B Of course, rememberverywe , we exrhangedbusifest c a r d sH o wd r ey o u A n d y ? A F i n eF n e . L o o k ,' m g o i n gt o b e n n d n b u a g dn a t t h e e n d o l n e x im o n t h C a nw e ' ? s o m e tm e ?W e c a nl a k a b o u ty o u rp a n sf o r t h e i u t u r e , . n d I c d ns h o wy o L hr o w o u r comp.ny can add va Lreto your d€as. 8: Yes,it wou d be a good oppo(lnity to ta k som€mofe What d.y dre you a ? A : ' l b e o v e rt h e r ef r o mt h e l w e n l y - eg h l h i o i h e r h h € t h o f

oclober B: Whch of thosedayswouldi

A: ' T u e s d atyh e l w e n t yn n t h ? B lhat 7 W h a ta b o ! 1t h e t m e 7 s n i n e o ' c l o c kO K ? A I d p r e f e ra b t . t e r ,3 Couowemake i t e e v e ne ? B Perfect l seeyou hereat my offrceat eleveno'clockon T!esdaythe twenty n nth And altetuardsI hope thar you

A Thatsveryk nd of you. woud reay likethat Thankyou

B o K .o h ,r r

Is rnthebusnees d (r.i - jun frornthe Marrott find t Goodbye

B: Yes, theyw A: OK,

do yo! f now how to fnd

42.2 In the next call,BulentcallsAndy to changethe arrangements. completeth€ dialoguewith the words in

.an t make it come up ftts ny plans fot the time af yeal '11 laak aver therc rcKhedule sary agaln nill open (hesethrngshappen waull be gaod B : H e l l oA n d y . I h i si s B l l e n tG L rh € r e f r o m l s t a n b u l . A: Oh, he lo Bllent How n c€ to hea.{rom you How are rnrngs n r u r fe y B |./pl o r r ' h o e r . u . u "7 W h a t . b o u rt h e U K ? A We'r€ havinga ovey aLrtLrmnlcan s€ethe trcesfrorn my

, Andy,l'rncalng about our meetifg at the end of the rnonth.UnfortrnatelyI ' o n t h e t w e n t yn i n t h .S o m e t hn g u r g e n th a s5 A D o n ' 1 w o r ray b o L rt th a t 6 8: Can we r ? Are yoLrfr€e the prevous day - ihe Monday? A: Lei nre lun check Yes,thats f ne. havean appo ninrenl b u t l h e t i mn 9 s 3 r o ry o u l B T h es . m et m e ?E l e v e n ? B Good l'm io abo!ttheclrange hop€ 13 not a probem for yoLr A N o , n o p r o be m , I c a nm . k e , t o n l h e M o n d a yA c t u ay i t

BOK seeyo! on the twenty-eghth a.d l'l sendan emaI to confrnr. a Seeyouthen 8ye 42.3 Canyou fill in the missing word? an arrangernent to seesorneone at a pad(uar time.especaly for a blsiness rn€et ng or a R e a dt h ed r a l o q l eosn p a g e8 8 a o u d D o t b yy o l r s e fo r w t h a co eague(chanqing rolesal the end)

42.4 ir} a Speakingpractice:listenand repeat.Repeat eachphras€you hearand then listento (hed.

Telephoning 89

@

r.,.ononing-
ReadthedjalogucbelowA customer(C)callsa supplie!(S) to make. complant. C: l'm callingin connecton wiih myorder.rcfercnc€ number1N0064. S Thanlyou oedsewd . onpro11p r wl. " I br. q yoJl detailsup on th€ scre€n. . . OK.Forsecurrypurposes, canyoucontrrnyournameandthe company name C: Yes,itb Mr ChenfromZ€d]echnika. S: That'sf lre HowcanI hep youtoday?

r . r a , e a C o no l . . n l W e p , a \ F o 1 o o o p r " \ a o , 1 9 but yolr only sh pped 80 piec€s.Ihe orderwds for 100 m sorryto hearthat Can you eave l with me? 'll ook nto it and get b.ck to you th s afternoon C: No, I m sorry that sn t good enough.We needthose 1€msLrrgenty wdnt you lo authorz€the shippingof the m s5nq 20 piec€sand then sendthem today S u n d e u l a n dh o w y o u f e e l .B u l l d o f e € d t o c h e c k a t t h s e n d . n d s e ew h a t gg o i n go n . ' l l c a l y o u b a c k ^ r n d . r o L . .. ^ d o f c o u r s €s e c a ns e ' ] dl l - e p r e c e g aga n i nec€ssary C What do you mean 'f necessary'? Can t haveyour S

S Yes,oi coLrue,t's Sandra Lewis.

c

OK,Sandra, I expectyourcallby twelveo'clockat the laten.Goodbye.

i Notice how ih. customcrw.ih until the suppli.r his all the ordcr dctailson th. screcnbefffc bcginning thc ,, Notice at line t how ihc customerstatcsihe complaint very simply and clearly rr At line 14 ile customcrinsistson action.Th. mppiicr shows undersiandingatline 17 but resisisihe presntrc. r, Ai line l8 ihe supplier promisesaciion with 'l'll'. /, Ai line 2l ihe customershows signsofmger This is noi good. Hor{evcr gctting the name of eachemployeevou deal wiih is a very powerful tool.

ln thenextdialogueSandrareiunrsthc cusioner'scall. S: Ohhelo,isthatMr ChenT C: Speakinq. S: Ths is S.ndraLewishere,fromShro S€mcondlciofi. calingyoubackaboutthe missng pieces C: Ohyes. S: ldo apoogizeoncernore,wr Chef,but I havegood newsforyo!'vehada wordwth thewarehouse and t seemstheysenta partalorder iheyonlyhad 80 pecesn stock.However theydo now havemore pieces.'llmakesurethatthe missng iternsaresentto yo! th s afternoon by speciadelivery

C: OK. S: l'm sorryagainfor any inconvenience th s hascaused. C: OK, it's torted out now Thankyou for your help. 5: ls therc dnj,,thng ese? C: No, thai! all. Goodby€ At line l0 Sandrapromisesactionwiih'I'11'. At linc 13 Sddra apologiz€sagain in a full an.l lormal At line 14 thc.ustomer remembersto thank Sand.a,cven though hc is probablv not \{.y happy.tsIeN.ds to keepa good reliiionship rvith Sandrafor futu.. occnsions.

fhe phrases yos need llg Make a complaint l'm callingtn connectianwith my arde, relerence we receivedthe arder thisnorning but yau only shqped We stillhavent rcceivedthe Theres a faultvr'lththe Theteseensta be a prcblenwlth the)nvd.e t n sary, thatisn'tgoadenaugh Show understanding t n sary to heatthat t undetstand hawyau feel. t m surewe cansaft ]t out Get the facts Whdtexactlyis the ptablen? Doyou havea rcterencenumbe.? I needta askyau a few qurckquestions No action It'snot aut palcyta I undetstandexactlyhow you feel,but it's not aur responsibtlity ta Promise action Canyau leaveit with me?I ll laok into I and qet backto you thisattenoan. I needta checkat thisend and seewhat'sqoinq on I callyau backwithin an hoLr ls that OK? l' senda replacement innediateiy by specialdeiivery It shauldbe with yoL tonaffaw I makesurcthat... End the call t n sorryagainfar anyincanvenience this hascaused. lf yau haveanymoreprablens, pleaselet me knaw

43 TEIEPHONING- COMPLAINIS

Exercises 43.1 Make phrasesby matchingth€ beginningol each sentence1-12with its.orrect endinga-|. Not allthe phrasesappearopposite. Makinqa eorlphill 1 I m c an g n . . L b 2 We retev€dth€ orderblt yo! only 3 Th€machne arrivedblt ther-o3 4 W en i l . . i l 5 neprnrersnr woftLnq 6 Oneof the ter.swasdarnaqed 7 lheresan ntermittent {aut I lhe qualtyisnt asqoodas. . 9 Yous€ntmea newpart. youbut. I1 ke€pemailing 12 'm lorry,that snt good .. on th€ rontro panel connection wth myordernumber 1N0064. to bea problem withtheinvoce yourorginalsampe. llustgetautomatc repes. shpped80 pieces. in Vanst haven'trecevedthe goodswe ordered. enough. j blt t doesnlft k properyts been{ neup to now no nslTuclron manua. a b c d e J g h

43-2 Matcheachcomplaintabov€to a responseb€low. Writ€ the answeras 'number+ letter'.(see#1.) /1) ThankyoLrPeaeewaltonemomentwhie bringyourdetailsup on th€screen. 2 I see ls it nill Lrnder warranty? 3 I'm torryaboutthat. 'll pui youthrolghro the accoLrnts departm€ftandI m euretheycansonit out R€ay?Thatsverynrange.'lselrdyoua pdt by€mai rqht fow andpui a papercopy n the postaswel underrtand howyoufeel.Bui do ne€dto checkat thisendandseewhalSgo ng on l'l callyouback withinan hour OK. feed to atk youa few quck questions to try to diagnose the problem. Doyouseeanyfashinq ghtson the d splaywhilethe fa! t occurs?

43.3 Mak€ phrasesby matchingan item from each Dealinq!vi!h a
..-it

to you th s aft€rnoon. apoloqizeonc€ more wth m€?

5 | ne€d 6 l d o 8 9 10 11 12

What exactly Sorrydga n s € n da ' I m.k€ ' v eh a d a

wordwth th€wdrehouse sur€the temsaresentto yolr.

replac€rnent mmedaley. lor any nconv€n enceth s has

43.4 In the seconddialogueSandratries to minimize lhe problemby uting'se€ms':/t s€€msthey sent a partial order.Rewritethe sentences below so that they minimizea problem.Uselhe words in brackets. (lthink/maybe/ probemwih olr suppliers 1 There's. ESUe) 2 ll\ go, 9 ro bF dd'i, h _o .Fnoa rA l_1r.dr rodcr

3 Thercw I be a deLaywhie we processthe n€w order (rnighi/ short) 4 Thereis a problemwih ihe nvoce. (ihere/ seems/ be /

I n e e dl o s p e a ki o m y € v e l i w os u p e r v s oarb o u 1 1 h 6 . (lust/ havea quickword wih)

It woud be easler lor youit we simplyissued a new nvoice (wouldf't?) 43.5 This senten(e relers to promiling action: l7 investigate it, tind an answeti and.all you again tomorow. Fill in lhe missing letters to write a sentence with the same meaning using phrasalverbs. I i it,s ito b t you ,andg

Readthe dialogues on page90 aoLrdDo it by youfsef or w th (changinq a coLeague rolesal the end).Praclise severaltrmes unt youle i !ent.

43.6 F s Speakingpractice:list€nand repeat.Repeat eachDhrasevou hearand th€n listento ch€ck

@

,a.ohoning- review

44.1 Fill in the gapswith the wordr in the box. ba(k on

back fot frcn in in on aut or avet wfi

'm calling

I 2 3 4 5 6 7 8 9 10

connection

yourjob

you Hownic€to hear Thanks callnq. Can putyou hod? Sorryshes the offce Sorryshes anothercall Caf youaskh m io caI me I s that'i'as ltaly? L€trnereadthat to yoLr. Can justgo thataqan? back by oP

o.

far up

fat Lp

inta îth

af ^.'h

44.3 Completethe conversationbelow usingphrasesa-h from th€ previousexercise.The conversationis betlveen a receptionist(R),secretary(s) and .aller (c). Writethe phrasesin full (rath€rthan just the letters)- it will help you to rememb€rth€m. R: Goodaft€rnoon, ? Pharma Int€rnat onal Howcan I hep yoLr please? C: Can speakto Robe.ra Jarvlk, R: l'll try h€rnumb€rfor you. .. Sorrythere3no answer j for a moment wh € ltry anoth€r extension ... No,st I no answer 'z hersecretary? 5: Goodarr€rnoon, R&Ddepairment. C: Oh.hello,rsthdt Ms.larvks secr€tary? 5: 3 C: I washopn9 to speakto Ms larviktodayDoyouknow whenshewi be avalab€? 5: 'm a{raldshe!out of the oiiicea day 4

I 12 13 14 15 16 17 18 'o

irst bear Canyouspeak a bit? t3 a badline.Youkeepbreaklng Wegotcut Wherewerewe? Whattimewouldbe good you? Whattimeareyouth nk ng ? Canyouleavet me? 'l ook it andget to you. -eedro cfecla_dseewhd , goi.g 20 'lsenda repacement specadelvery 44.2 Matcheachphrase1-8 with a phrasea-h with a similarmeaning. 1 Yes,ih s s torrrame) here. 2 Please wait a momeni. 3 'll askherio get backto you. 4 Woud youliketo speakto ..?I l 5 Can takea message? 6 Can justrep€ateveryth nq to check? 7 Canyourepeatth.t? 8 Yes,thats rght. a b c d e f q h

Letmejun readthatbackto you. shaI Lput youthroughto .. ? Justbearwith me. sorryI d dnl catchihai. Woud youLiketo leavea message? Speak ng. 'llaskherto ca youba.k. Exactly.

)

C: Yes,please. Canyoute I herthatY Sangcalled,fromseou Hospital lts aboltyournewheaddrug. ' can youg ve meyournar.eagan please? c Yes,tsY 5an9That3Y-,newword,S-A-N-G. 5 : OK,qot that And the mess.ge? c ld liketo l. k to heraboutyournewhea.tdrug.Theone phasethreeclinLca ihat hasjustpassed trias. we m ghi be interened in gettinginvolved in phaseiour trias. I needio speakto herpersonaly aboLilth s 5 : Right6 .Y Sang calledfromSeoulHosptal aboutthe newheartdrug.Li's aboutthe phasefour cl nicatri. s.

c: 5 : Doesshehaveyournumber?

c: 5 : Fine.3

tomorow

c :Th.nkyouverymlch for yo!r heip.Goodbye. Whenyou finish,readthe conversationaloud.Do it by yours€lf,or with a colleague(changingrotesat the end). Pradiseseveraltimes until you're{luent.

- BEVIEW II4 TELEPHONING

44.4 Completethe conversationusingthe words in brackets.Nikos(N)callsMr slavicek(S).The re.eptionin (R)answers. R: Goodmorning,Nt]t Fruits.lvanaspeaking. Haw canI hetpvauTlhaw thel?l ( / llk€/ speak)toMr slavicek, please. N: (while/tryl connect)

.r\.h.1

5 : M i a n Sa v i c e k . N : H e o M r S l a v c e kT. hs s NikosKarcuzos fromSeven Seas S h l p pn g .

5: Nikoslr

(how/ nice/ hearfrom)l (how / thinqs/ Athen!)?

Ni Fine,tine.And in Zagreb? S: Good.We?everybusyat the moment- lotsot new business. lt seems thateveryone wantsfruitfromCroatia (this/ N: That'sgoodto hearLook,5 goodtime/ta k)?Doyouhavea second? (ust/ give/ moment)while Sr6 lfinish (ahead) something. OK.7 Nr3 .....................-.,-.of yournext keason/ca ling)because shlpment thatwe?ehandling. ltl for fo!r containeE, at the endof November, S: Yes,that'sr ght. N: Wel, e. .. .....-.......-..........in a - (thoL4ht/ might)interested wayto savea bt of money, S: ro ............ ....(course), Nikos,l'm alwatsinterested rnsavrng money. N: We havea sma shipleavng Dubrovnlk oneweekearlier We havesonespaceor thatshrpfor yoJrcorrarners S: ' . . - . (let/ jlst check/ unde6tand). Are yo! sayng that if we cansendthe containers oneweek earier,thercwil b€ a differentprice? N: ExactlyForeverycontanerthatyorisendon theearliership, we'llgiveyo- a 2voditcourton tlêprcewe quoted. 5: r'?............. ...(ust/ go over/ again)? Youmean ihat f we sendallfouf containers we will rn midNovember, get a iotaldiscount of 8%? N: Thail r ght. S: OK,ihrtl veryintercst ng,but I can'tgiveyouan answer (l/ getback/you)in a righinow 'l

44.5 Readthe dialogueabout arranginga meeting.Choose the ben word/s to Iill eachgap from A, B, c or D below. Ann: Hilim- ' Ann. lim: Hi. Ann: Jim we needto meetup som€tim-c to discuss the Frankiuft TradeFair iim: OK.Whattime2-..------- be goodfor you? Ann: Whataboutr.--.---ft,londay? lim: Letmesee.No,sorryI cant a then.Couldwe 5meeton Tuesday ? Ann: t!,4y schedule is quite6 on Tuesday, but l'm freelaterin the afternoon. youbest? lim: OK.Whattimewoud 7 Ann: 3.........-- we say6pm?Or s thattoo late? iim: Well.it is really. l'd prefera bt ear er if youdon't lstve OK? Yes, thatlo

oK.r,

fine.That'smuchbetter. sendan emaito confirm. calng.

I Thisis B could B at nex B makert 5 A alternative B in place 6 A lull I occupied I suit 8 A will I shall 9 A mind B care 10 A couldbe B 5eems me 1 1A l 8fd 12 A Thanks for I Thanks for your 2 A should 3 A the next

C Hereis

D Spe:king D can D riext C on next D arrange Cbe instead D insteadol C D engaged C cornpete prefer D advantag C D what C how D troube C worry feels D sounds C DI'm cl your lthank DNce C

N: That'sf ne. 5 : r a- .

i

(islelse) we needto discusswhile line? N : N o ,I d o n ' tt h ink so. That3all. ( t h a n l s /c a l l i n q )N. i c e S: OK, Nikos,ls

talkng to you. Ni,6

I

(lts / n ce / 1. ling / too). Bye

Whenyou finish,readthe conversationaloud.Do it by yourself,or with . colleague(changingrolesatthe end). Practiseseveraltimes until you'refluent.

Telephoning 93

Mdija Novak is looking for a job tluough an online Kruitmeni agency.She sends an email with her CV md a

sreven rHillhopeyoutewer Ei This is iuslaquicknoteto asklor somehelp ve been L-T applying lorjobs n Londoiusngonineage,rcies butl'vehad lt no luckarall.lney iusrsendbackrhesesra.dardemals its l reallydep@ssing ] 3Anrvay, l waswondeingii yo! colld hep me?ltholghtyou mightknowof someLondon recrulme asercieslhalhavejobs l inlheiinancea€a Canyousendmesomefames? d realLy l appreciale il l aThanks io. yourhep. ] 5BeslwishesroT,Assa ]r Ma{a __]

I l - w l 1 9 r " r " g " r or o . o bv a - a E y? t r o l O N O O 9 6o2n7 ] /oi I a4os[e.^s reqFsreo arrlr aycv -1 zl leelconlidenl thalmyskilsandachlevements area verygood fit rorthisiob prclie. 'Peaseieelifeelo contactmeil youhaveanyqueslions allooklorward lo hearng fromyo!. Maria - : . Novak ...:.: :

A rccruitmentconsultantreplies: r H i M a r j a . g r e a l t o hrer c m y o ! a g a nm . I n e- j L r sglo lb a c k lromvacation in MorcccoAmazng! 2Anyway, hanksloryouremailImhappytohep- askalew peopleandtryrohink ol sorneagencies youcoudny 3shalllalsosend youa copyollhe LondonYelowPagesf lh€ ral, Sotrerimes irs b€rt€.lfa.o.r.le- [s ve'ycompr€serive and ists oadsol agenc€sandolherinformalon al i. one

DearMariia rThankyou yourCv wewl looklhrough verymuch1orsendlng I caretulyafd conlaclyouagan lnecessary '?Peasebe awarelhallhejob markels extremely compelitive andlhalwercceive manyappicalons iorou vacanlposllons. 3lllcan ofieranylurtheradviceof assslance, pleasedonr

lcood luckwilhlhe huntng iob

The€mailsaboveusepolit€,formallanguage. Comparethem with theemailsbetweenMarijaanda friendon the right.

Thes€ last two emails are friendly and informal, but note how Mariia startsparaSraph3 of her email to Steren- she usespolite, formal languaSewith her friend becauseshe's

The phrasesyou need B

94

More formal

More informal

Firstline

DearSirot Madan / Deatlname)

Hl . / (jrrt the name)/Jnoth ng at"lD

Friendlyopen

It wasa greatpleasureto meetyou tn

How'sit going?/ I hopeyou?ewell Greatto hearfran yau again!

Thankyou verynuch for sending Futtherto aur earlierconvetsatton,

Ihanksfor your email. folbwingyou
Reasonfor writing

I'n writinq with regardto rn witinq to find out nore infornation about .-.

fhis isjust a quicknote to say/ askfor ... Reyou enailbelow ...

Request

I waswanderingif you could.. . lwauld be gratetulif youcould...

Offer help

wouldyou likeme to ...? lf you wish,I wouldbe happyto ...

DoWu wantme to...? lf you needanynorc infornation,just let ne

lf I .an offet any fufther assistance,pleasedon't hesttateto contad me. Pleasefeel free to contact ne if tou have any

Justgiveme a ca if you haveany questions.

Friendlyclose

I look foMard ta heaing fromyou. Givemyregards to.--

seeyou soon./ Thank for your help. Goadluck with .- / Bestwishesto ..-

Last line

You6sincerely/ KindrcganlsI Bestwishes

BestwishesI All the best| (ust the nam€)

l l

45 EMAILS- BASICs

Exercises 45.1 Coverthe opporite page with a piece of paper. Now makephrasesby mat(hingan item tmm each

45,3 ComDlete the thre€ emailsbelow with wordsfrom the box. an altachment a5 request€d don't h€sltate do you want futther assistance qet bac* gntelul fol grcat pleature heanngfron please re relation to usefuldis.ussion very imprcssed wonderingif with regatd

1l'mwriting-\ fromyou. !o hearing please... 2 Please feelfree \ furthefassistance, I lool forwdrd \ to contactmerl ... a Th.1l youvey mL(h -wrthrcqardto. yourCV for sending

i ; i;... ; i&.!.|r-tiil--..-..-...1..

I r6 7 8 9 10 11

I hopeyoir're Thisisjusta | waswonderng if I'd rcaly Geatto sha

youcouldheipme. hearfrcmyouagain. sendyoua copyof ...? app€da€ |l.

45.2 Lookat the numberedparagraphsIn the four emailsopposite,Write one of the paragrephtypes in the box on eachline b6low The paragraphtypescan be used

Badyaf enail FinalconnenE Friendlyclose Friendlyapen affet help Prevbuscohtact Reamnfor witihg Request Fi6t emall lst para )",1 Badvof email ",,' para 3rd arh n,r:

Fflendlv clase

Secondemail

i;;

lo you planslo setLrpan inv€stmedfundlor Inda. Atterouf verya .--..-...-.....-.......on ihisEsueI nowneeda litle.0," Ou"lg,ornOnlorruiioi. youcouldsondmeacopy0i lhe consolidaledaccountsfor yow qrclp oi companes?Also I wouldbo5 ----------anyiniomarlon rhatyo! havs abourregulaton ol rh€DubaiStock Exchange. llooklotuad lo 7 ... yousoon SanjayGulali

---

eqrl .' i r".,.j gqr,er sobi.cta.D!_BffiE_,_._,--.---.:--.:-,.:-l !--E!Ll Manylhanksloryourenai andlor you.kndwods. twasa lor !s lo welcomevo! her6 i DLrbal. Dleasure , Im sendln!youa copyoiour

2nd pafa 3rd para

'o theExchange, lhenwebste is wW ditx.aoandlhishasal lhs nlomation yo! need.

Thirdemail ist para ---&9!4L spcl 2nd para 3rd para 4th para ---Fientllv close 5th para

:ra para ---!{€|j

--J

llwasar lo meetyouandyoLrr tearnn Olbailastmonh.You hospilally wasverygenerousand was

1stpar.

Founhemail I st para 2ndpara

1

suo;e"r!-'Wlmqr rundioi|;a6

-,

locontaclmeii I canbe olany

?

l.....l

5end

e/P

youremal, contacted llr Abdullah andhe sentmeIheiraccounts.llreyte allached here.

I

4th para Notce how the bodyof the email(includinq .€questinq and offeringhe p etc) s lramedon eithersidebytheopeninsand .loslngpaEgraphs. li is rareto haveonlythebodyofthe email wth no framing.

to meil lh€reareanyissues.l'fi1

leavinglhiq lo yoL I havFm . L" rrN ro read accoL.ls

m el o c a l a m e e r i nwgi r hB h s l a ri na wek or soto disclssalllhis? G@dlLckwth he accountsL

Seepage 151for somewriting tasks.

Emails 95

Emails- internal communication Emails u*d iside a compmy are often short ed direct. ll)ok at the following example:

Serrd I

subjectj

Hi Bfell

Justaq! ck nole1oremindyouIharlts theendol lheqlarler Peasesendmethesaleslguresbrokendownby regon.as Canlask youto aso showsaesaccordin!10producline?I w o u dr e ay h e pw h e n c o m p l e m y r e p o r l Tha.ksioryourco-operal on

Herc is the rEply io thc aboveemajl:

setrd

The level of fomality of iniemal emails depends on the :ud,er,edd Fd.on for hriruS. t rhesryle..L-l "udlJ neuhal, but hereis d exuple of a formal and an infornal

subjorr linanciaresults m p easedto te I you thatour tfanc a resuls lhis year have bee. very poslve woud lke to thankyoual lor yourvauable lwould aso ike 1olake lhe opporlunlylo le yo! aboutan imporlanrsralichange Parca Nascmentohas beer appofled as Maftelng Drectortor grazl to repraceFitaCosta.Shewl work lo slrenglhenolr prese.ce n Laln Amerca This s an exclng lme 'or ourcompany.and m surelhal can counlon yolr conlnu ng commitmenloverlullre monlhs

slbjec! BerOuanerysaesI gures

Susan hereslheiirslseloiiiglresyo! wa.ted allachedasa spreadsheel Thesecondsel- saesby produclme willakea e ongerl0 colecl I sendlhemby theendol lheweek Nowlor somebad.ews Unlonu.arey. he saesslallareleling usthalnexlquarlers ikelylo be sgnlcanlyweakerDoyou wanlmelo gellogelher lorJuy-Sept a revsed{orecasl L € l m ek f o wl h e r e sa n y l h n ge s el c a nd or oh ep w i r hr h e &ett

Goa
b ; ,r "

v d,o /oai - ie.!1.d, _

Goran- ooksike ie lI nelworks gornglo be dow. nexr F day Folr.e mainrenance lheysay Whata hasse Weve9ola videocon'erence a(angedlorFr pm Sha ca everyo.eandlfy 1oreschedu e lorMonday? Gelbacklo rne I youlhnk rs a qooddea

fhe phrasesyou need B Remind Justa quick nateta rcmindyau that |'d liketa rcmindevetyone that.. Request Please.. / I needyou to ... / Id be gtatefulif yaucould. I wonderif you couldgivene sameinforration? Can I askyau to .. ? / l woLldappteciateyau help with thts.

Give news l'n pleasedto tellyou that

Be helpJul Hetesthe.. yau wanted./ I veaftached .. l'll .. / l'll get antait rightaway. ShalL..? / Doyouwantne ta .. ?

Friendly close Please get backto ne if you needanynare infomatnn Letne know if theres dnyhing elseI canda

Thank I would liketo thankyou verynuch for .. We done! Yau'vedanea greatjab.

96

/ In sureyau will be pieased

Thebadnewsis that I Unfattunately, ... Wauldall staff pleasenate that I t\/ouldlike ta takethe appattunityta tellyau about .. Thereasonsfot the.hangesarc as fallows:

fhdn|s ag"in lat aI lau holD I rca r apDrc"ara :t Thanks for your ca-apetatian.

46 EMAILS- INTERNALCOMMUNICATION

Exercises 46.1 Completethe very short emailsbelow usingthese wotd' advance,co-operation, know, Iet, 'll, qui* note, please,rcmind, say. that I got youremailand speakto Fernanda aboLrtt whenI seeher youthat 2 JListd lo tie ledn nPplrngs roTo"ow at 9dr bring copiesof my repo.t with you.

3 Justto you ...................... . lnar therewill be a frrcdr I at somepointnextweek.Thankyou tor yor.rr Theemais above,ike the fid oneopposile,beginwith 'jun' 1o lshow a shorrmessage.

46.2 Coverthe oppositepagewith a pieceof paper. Now try to rememberthe wods below.(somel€n€rs havebeengiven.) I Sus.n5 thefl6t setof figuresyouwanted, a ed asa spreadsheet 2 Nowfor somebadnews.LJ ly.the salesstaffaretellinousthat nextouarteris likelvto be s9n ly weafer qettogetherarevsedforecast 3 Doyou lo. tme Juy-Sep? 4 t me w f there3an!,lhng e I cando to hep wth thercpon. 5 cal everyone andtry to reschedu e for lvonday? 6 t k to me f yo! think t's a good dea. 46.3 Put the words below into the corre
45.4 Completeeachsentence1-8 with the bestending I l'm sur€youwii be . . . F 3 l'd liketo remind. .| a canI dskyou...i5lwouldapprccate...:l

a to let Paulaln HRknowyourholldaypansfor the summ€r asap? b everyone that redecoration oi stalfofiicesw begn on Monday. c pleased to hearthatI havenegotiated a d scountfor a empoyees at the localiitness centre. d a meetingoi the seniormanag€rnent tearna5trnonth,it hasbeendecided to reorganize the depanme.t. e thatanyonew shing10benefiifromthisdiscount should regisle'ar rl'e cenrebefor€tt e endo' ALgusr. { movealltablesanddesksawayfromthe walkto a low .ccessto areasthat need1obe painied. andthe proposed newstructure arein the 9 for the changes attached doc!ment,lwould begratefulforanycomments h yourhep w th th s aswe needto makesurcthat€veryone doesn'tgo awayon vacation at the sam€iirn€ 45.5 Makelour short,
t

*

t ' t-

see page 151for somewriting tasks.

Announcinggood news

t h np1:.?:,:!...!P .le!Lv-ul!i!,

Announcinggeneralnews 3 .-..... . 4 5 Thanking

Canyou find three phrasesfrom the table in H€nri Devereaux3emailoooosit€? Emaik 97

Emails- commencial ln ihe exchmgeof emailsbelow a custome.makesan enquiry md the supplier replies:

tt ln email 3 ihe customer confims details that have been covered in pievious discussions. o Seemii 3 for the lmgrage of intemational lrade (CIF / leiier of credit etc).

Email 1 '.;, !rrr.

To... nio@pot;iaacaaom subrd: qpqi' ,:o:19,p9t:,pq'l

lvsted yourslandal lheEnergy TradeFairn Hanover andwas mpressed by yourranqeolpowerpacksbasedon luelcel r"c5 olo9, lp ckedup a brochure al lhelair andwoudnowlke somemore delaledtechficalspecI calionsioryourrangeol fue ce s ro. smaI lrandlreld devices powerpackssuilable In padicuarlwoud ike10knowabout ior a ponabbDVDplayer Peasesenddelas ol size energyoutplt elc I ookiorwa.dlo heafng lromyou

The phrases you need E€ ^

Email 2 D a nB a e \ lo.. slbjecrr r.io re powerpacks | _ r'.ar -q a doc--e l -. 9\es lu delas ol ourrangeoi powerpacks Canldrawyourallenlonro modesFC68andFC72? These wo! d be dea Jora srnalhandheld devce I wourdwelcomeie opporlunry rodrsclssyourneedsm more dela May suggesl lhallcal you n a dayor !wo? I n l h e m e a . l m pe e a s e d o n t h e s i l a l e l o c o n l a c l m e p e r s o n a l y l youhaveanyqueslonsMydnecl .e s gvenbeow send

,t/,The personwriting email2 willbe a salesconsultant, and they use the enquiry as a chanceio enterinio a sales dialogue.ln the follow'up conversaiionsthis person\!ill usesaleslanguagefrom units l8-2'1. Aficr further telephoneconlersaiionsand emailsthe customernow pracesan order:

Enquiry t ti\tcd ,ar s?.d at dnd ^dt np,e.s-d b) lwauld like sane detailed specificationsfar ln particulatlwauld liketa knaw Pleasesend details of yout product Gnge and ptices / discaunts / delivery times / terms af payment, etc.

Replyto enquiry fhdFttar tar)ou! emdttot t/' tcbtuat p.quning 1n aftachinga documentthat glvesfull detailsof CanI drawyouraftentianta .? Ourstanclaftjtermsarc paynent within 28 days,but we affet discountsfot promptpayment Wealsooffer quantitydiscauntsfot large purchases. We can shipwithin one weekof a ftrm arder 1would welcane the oppaftunityto dtscuss yaur needs Wehape thatyau find au quotatiansatlslactotyand laok farMardta rccetvingyour arder Please dan t hesitateta contactme persanallyif you haveany questions Placing an order Follawingour rcaentcanvesations,pleaseflnd attached ouronet na.... rcl ,n srccl.please ll lou doaI navph. trcmsteqtresred adviseusinnediately. The gaods nust be deliveted by canfim yau delivety date.

lf any of theseconditionsarenat net, pleasercfer ta the dc!"iledr.tm, n au ca. act rat aanns that^. ae

Email 3 ! sond

lo... subjert

S a e sd e o a r l m e n t order lor modelFcT2

pleaseiindalbchedour Folowng olr rece.rconversalons o.derno JX034tor25000ile ce s modeFC72 Weagreedthalthegoodswi be senlby sea(ClFB!san). seclreypackedin 25cases01l 000 lemseach Thegoodsmuslbedelveredlo Busanporlby 24Apllal lhe ll anyot thesecofdtonsarenolmet.p easereieflo lhe delaiedtermsInourconlracl toraclonsthatweareenlI ed to Wewl payby nrevocab e ellerol credl Peasesefd copiesoi theshppn9 documenrs a.d lnvoiced rectlyromeas pdlllles Please acknowledqe recept otths order yo! Thank andwe ookfotuardlo dong morebusiness wilhyou

98

Please a.knawledgercceiptof t s odel Shipping an order Thegaodswill be sentby sea/ an / road/ rail and wil be secureiypackedin baxes/ cases/ .rates. Welook forwatd to doing morc business with you in the

47 EMAILS- COMMERCIAL

Exercises 47.1 Cov€rth€ oppositepagewith a pieceo{ paper. Now try to rememberthe words below (Someletters havebeengiv€n.) l lvsitedyourn at the Enerqy TrddeFdir 2 | p ckedup a bro e at the fair,andwouldnow I ke somemored€taledt€chnicalspe s for yourra ot fuelce s 3 In p r, I would keto knowaboutpower packssu le for a portabeDVDp dyer. 4 CanI d w youra ion1omodehFC68.nd FC72? 5 In the m€a me,please dont hes e to contactme personay ii youhav€anyquenions.My d 1 I e s qlvenbelow. 6 Fo nq olr recentconversatons, please I nd a ed our ord€rno.JX034. 7 Thegoodsrnustb€ d ed to Busanportby 24 Aprilat the I t. I lf anyof thesecon ns.re not met.ple.sereferro the detailed t s n our contract{or actioris thai we are 9 Please sendcopesof thesh nv o rccIyto me. 10 Please ack edgerccept oi thisorder 47.2 Write one oI the setr ol initialsin the box n€xt to eachphrasebelow. PR(producttange) DT (dehverytnel PD(prices& discaunts) P (paynent)

1 c F Eusan l'j ) 2 the goodsmustarrveby . at the latest 3 av. abe in sx colours byb.1l rans'erto ou dL(onr 'JrbF' 5 trr"'F^rl bean add,to.alupple-1e1t'o. 6 the executivemodelfeatures 7 we w ll makea promoiionala owanceif you ma ntain an 8 we offer€verything from to .. I latepayments wi ncura per'ralty of t 0 w a ^ . h o ^ r l t . n t 0 $ o . t r . g d d y (o l . 1 1 o r ir -io J
47.3 Make phrasesby matching.n item trom each 1 if youhaveany 2 l'm coniident 3 | ako noticethat you 5 we do offer qldntty 6 | hav€beenlooking 7 l ( a n t r n dn o m e n t o n

47.4 Usethe phrasesfrom 47.3to complet€the exchangeof emailsbelow. write the phrasesin full - it will helpyou to rememb€r !hem. . slfd

10...

Sal€s

s o b j . d : O r r c es l p p r e so . d e r

andam nleresled n orderngso.ne n p a r l c u a f , I n e epda p ear n dc a r t d g e sl o rC a n o n pholocopers andvariolsma .g andpackaging suppes ' d e s ka n dw a c a € . d a rw s l ha companyogo bur wouldneedsorneassurance abodrlhe Yourflces areshownon lhesite bulr payhenrrermslor argepurchases andexlended Peasesend l l o o kl o N a r dr oa ne a r yr e p y

10.. sublert

[/'cheLe Younc Re Officeslpples order

Thankyo! loryouremarenqlnng aboulollce suppes ' alyou prodlclneedsand ook yo! asa reguarclsrorner lotuardrowecoming lor argeordersTheseareona s d,rg scalebeg.nng al2% lorordersover€500 andgolngLrplo 8"/. Tradecuslomers sdchas yourseves aregive.30days1opay ourinvoicesbut6 tnsrWeaso ol1er alt.actNe earlypayme.tdscountso. theseacco!.ts Forllrlher peaseclck on he nkbeow lnlormalon on lradeaccounrs n relalonto olr personazedcae.dars produc!loryoulo ookat Please send mesomearlwo w thyourogoasa g I fle andspecly whelher Youwanla deskorwal caenda[ Thankyo!onceagainloryourenq!ry 3 Peaseleeltreelo conlaclne s e e p a g e 1 5 1f o r s o m e w r i t i n g t a s k s .

Emaile 99

Emails- customerissues In the email beloa'a supplier is forced to giee somebad news to a Poienhalcustomer:

5!rd

Td... !11!!rg!?kq subje.1: V6l lo osak"

lm so.rylolel youllral have1opostpone myvsi oyour olTcesnexlweekThereasons thalmy inemanager wtt be awayand wi be lakngrespons biityiorlhedepanme.l in his 'm However sl verykeenon comngto Osakato meetyou.and m conldenlthatwe caf eslabsh a goodreralonshipbetween lhopelhalwecanreschedue themeel.9 . the.earrullre colrdmakel anylme in eanyJunePeaselelmeknowwhch Soryaga.lor lhe fconvene.ce

?, Notice how Claudia apoloSizesand cxplai,rsat ihe bcginning,and then apologizesagain.t the end. a Notice how Claudia rcassuresMr. Tanakaeith posiii\'. l a n g u a g e/ :i , s l i / /i , f ,Vt . . o n . . / h " c o l t f i d . t t l n t . . . . " ln thc ncxt €mail a cusiomermak.s a compliinr. In rcply, ihc s{pplicr npologizcsind promiscsaction. " lcnd

P e f i oC a s . b... subj?.t:Compa,nl

lm Mring rocompia.aboll thepoorseNce lhalweve recevedllo.nyolr company = Y o ui n s l a l ead. e w a r c o . d t o n i nsgy s l e m a to u ro l 1 c e sa s t monlrrAllera weekI slarledeakngwalerthrough lheceiino oJou receplonareaYourlechnciana(ved andremoveo al l h ec er . g p a n e l sn o r d etroc a ( y o u at s e r v c eb.u ld l r . g r h s wo/klhepanelsandsupporls werebady damaged Tlrs hascausedusconsiderabe nconvene.cea.d the pan€rs damaged crealea poormagein olr receptio.area l m a d ei l c e a rt ot h el e c h n i c rtahna w r eh o dy o ur e s p o n s bl e or panes However repacng he damaqed ths hasslitnoroeer Peasetakelrgenlaclon1oresovelrrs marer Yolrs ChrslneLagarde Chrsl'neLaoarde send

subjdl

R€,Coirdlrfr

m verysory lo hearlhatyoLr !e hadprobemswth youra I conditiofng syslem. WeI be at you officetomorow1oJI new lndersland y lharyoLrre.epto.areaneedslo be or complele therrgrreslslandarda.d canassureyo! lhatwewil eavelhe Onceaqan,peaseacceptmys.cere apoloqieslor any

100

at The tone of Chdstinet complaint is dnect, shong fld tactual- but noi angry -{ Pieiro'sreply is short and simple,avoiding co lict. 4 Nohce ihe first paragraphof Pietio'sreply.After apoloSizinghe immediai€lypiomisesaction. 4r Notice how Pietroendsby apologizingagain.

fhe phrases you need E€ Customer complains |'n writing wth rcferen? to . |'n wnting to canplainabaut the poar servi.ewe've .eceivedfton Thereseensta be an enot / nistake/ nisundestanding. There'sa setiousfauh with the ThBhascausedus considerable inconvemence. ThEhashurt aur salesand our rcputation I nade it.leat that. . Customer demands action I nust insistthatyougivethtsmattetyouturgent Please takeuryentactianto Letne renind you that thisptoduct is stjllundel watranty.So,the bestsolutionwouidbe ta .. Supplier 9;ves bad news l'n satryto tellyou that.. / Uhfattunately, ... fhe rcasanis that . / Thisis due to Supplier apologizes t m vetysatryta hearthat... t wauld like ta apolagizefar . t wasvetyconcetned to leatnabaut .. Supplier reassuresand promise5 action Im canfident that I can assurcyou that lw nake surethat. supplier ends Sarryagainfot the inconvenien.e. Onceagain,pleaseacceptmy sincercapalagiesfot any tncanventence caused. Thankyau vetytuch far bringingthisnattet ta ny

48 EMAILS- CUSTOMERISSUES

Exercises 48,1 Rewrite the sentencesb€low with the cor€ct word oder, beginningas shown. 1 l'm to tellyousorrythat I haveto postpone nextweekour meeting.

i18.3 Study the stsong complaint below. Try to 9ue5s the single missing word in ea(h gap, Wite your answers lightly at the side. S€veralanswers may be possible, frol Fnd,ewwrkinGi su6ect lDetavtooroa

t'm

--*--' -- -------.l l

2 Onceagain,p easeapologies for acceptmysincere any inconvenience caused. Onceagain, 3 l'm ordered to tellyouthatthe itemsarenow in stockyou pleased. We'llyourorderbeshipping today.

I phonedyo{ lasl w€€kaboutthisand you 6 Thisdelayis causingus considerable as wele unablelo coniinueow ooeratLons withod the oans

possible 4 l candorngeverything youthatweareto assure resolve thisissueaspossible asquickly.

lcan 5 You'llbeextending our onlinesalethatwe arepleas€d to hearforanotherweek, You'llbe 6 l'vetalkedto the involved staftandl'm confident thatour proceduret arerobustandprcpey working. l'vetalked

7

informyouthatwe regretto cannotprocess yourorder dueto onyouraccount a largeoutstanding balance.

I Thank verymuchyouto myattention forb ngingthis maIIet Thank

l'll be phoningyouagainlaterhis atlgnoonand I hop€that by thenyouh6vesomegoodneo€lor me, lf I donl r€celv€a Bspons€fromyou,l'l b6

l{ow fill in the gapsabovewlth the suggestodwordsin ihe box below. atrentlon assuIed delivery furced inconvenience irsist bng-Em rcference tales satisfactory shipped nill 48.4 The tEply below hast€n extra words. Thet"rc elther grammad(ellywrong ordon'i makesense.Crcs5them ouL

t Tol lGrola-sarfias-l ---tmoor suqcct lne oatav

48.2 Write sentencenumbers1 to 8 from the pr€vlous exercisein the boxesb€low. a Goodnews n I b Badnews [] n c Reassurance ! !

d End

lhat ylu 9 v€ this malteryour

nn

l

I wEsveryconcenedlo l6arnaboutlhe so latedelveryol the Partswhatyouodered iromus. l!€ bo€nspokento ourstafl in he packingdoparh€nt and lm loo conlid€nllhat lhe g@ds lefi he@lastw€ek.I can only asure it hat lhereis an issuew h rhecourier, r l ll contactwid,llhempersonallyand nrakesurethattheyeso ve once again,pleas acceptff'al my sincsr€apologieslor any inconvenience causedyou. Shouldyo haveanysomequeslions,pleasedont hestate to

,i.:1.

Seepage 151for somewriting tasks. Elnails 101

Emails - arranging a visit Much of the lmguage used for rnaking auangements by email is similar to ihal usedfor naking anangernentsby telephonein unit 42.

Host confirms ever]4hing Jusllo co.rnh yourv sitto uson . al A drverwil be waitngioryo! at thearport.hodng a sgn withyolr nameon t. =

Below is a typical exchanSeof emailsfo. ananging a businesstrip. Only shori extractsare shown.

-oor.6

4

rd-6,o,o)o-.0. odF

brqro,

6p

Shoudyouhavea.y problemsmymobe phonefunrbers

_

Host makes an invitatioh |^".aoo;opo.

_ Tt" ",t le,oL.

n Chinawed be verypleased ifyoucoLrdvsl ourcompa.y ll woud bea grealoppotuntyloryo! lo lookarolndournew

Guest accepts Than(youiorlheknd nvlalon1ovisl yourcofrpany d be very nterested in seen9yourlacrorya.d seenglhepoduclion n lacl l lbe . Chnatorn lo Peaseermek.owir anyol thesedalesareconven€nl loryou

Host suggestsan itinerary wasverypleased 1ohearlhalyo! l be heren Chinam JanuaryOl coLisewed be de ghredrowercome yo! ononeol - peaseseelhedetails ve pullogelher a provsio.altrnerary

Howdoeslhs soLr.d? Pleaseerrneknowwharyo! rh.k A so.wed be happyto arangea ocalholeloryo! il yo! w sh

Guest replies Thankyousomlch iorthecarel! tholghlyoupotrntopla.ning an lferarylorne ll looksiine lheresi!$ onesrnarchange tharrwo!d suggesl n relatonto theho{e. fnakemyownamngemenls ooktoNafdverymLrch lo seengyo! if ..

Guest contacts a hotel rnmaiingyouoii yourwebsleOoyouhavea roomavatabte loronepersononthen ghroiWednesday 22January? Prease lelmekrowthep.ce otths ncluding breaklasl d a l s ol k et o k n o wl l y o u .

Guesttells host the details Yes,every,lhing s linazed.ow l'n travelngonil ghtLl1788iromFra.kllrtloGuangzho!lls d u e n a t l 1 3 0 a m I b ea r v i n ga t T e r m i n a t 2 Im slayngat theMarlonWhenlgetlhere I neediusthallan hourorsolo freshen up.llrenI cancomeslraghlto yolr oiiices

102

fhe phrases you need E8 Host to guest We'dbe verypleasedif you cauldvisitau canpany. Ive put tagether a pravisianal itlnerary. A drivetwi pickyou up fron / dropyou aff at the Doyau know whenyou re planningto arive? Gostraightta the rcceptiondeskand asklar me Shauldyou haveanyprcblens,my nobile phane l'n afta.hing a nap Guest to host Thankyou fot yau kind inviznon. l'd be veryhappyto visityour offices. 1n I'a,elng on f|'ghtnrmber1H-88.ore . al I neediusthalfan hourat thehotelto frcshenup Guest to hotel I n nailing you ofl your websiteDoyau havea rcom availablefot the night of Wednesday 22 Januaty? Id alsoliketo knowif youhavea swinningpaoland gymnasiun/ 24 hour reception/ a.autesy shuttlebus nom tne atpon I needa viewof the . / wieless lnterneta(ess / an ian tn my rcam wnent arnve. other vocabulary a wndow seat/ an aisleseat a tngle / returnttip \BtE):a one way/ round trip lAmE) a booking/ to boak lBtE);a reservation / ta reseNe {AmE) Leavethe motorway\AmEfrceway)at exit 12. Keepgoing for threeblocks,thenturn left.

49 EMAILS- ARRANGINGA VISIT

Exercises 49.1 Completeeachsentence1-8 with the best ending a-h. 1 lt wasa gre.t pleasure to ... E 2 We'db€ verypleased if I 3 I'd beveryinterested _. 4 I'vepurtogether s A driverw I pickyo! il 6 A driver w ldropyou. . ! 8 l'l needto freshenup a b c d

i I

a provis onaliiiner.ry at th€ hote f rsr. n seeingyourfaciory meetyouin Germany.

i to the receptondeskand.sk for me. 9 up iromthe airport. h youcoud vistourcomp.ny 49.2 Fillin the gapswith the prepositionsin the box. al

at ln

5 6 7 8

at in

ar far for frcm in ot'l on on to whh

I wasveryp easedto hearthatyouwill be here China l.nu.ry (orfrom)yourwebsite.Doyou l'm ma ingyou havea roomavaiabe onepersonon the nighlof Wednesday 22 ianuary? 'n travelllng f qht 1H788, Frankfun G!angzhor. TheJightleaves 11.l5am 21 J:nuary is dLre . ai 9 30 on Wednesday 22 lanuary lt arrves Terminal 2. I'mstayng ... theMarrott A driverw ll bewaitn9 you the a rpod,holdng a sign yolr nameon t

49.3 Crossout the 9!C word in eachgroup that is !9=t (o ect.Checkany unknownwords in a dictionary. 1 Yau.an get / catch/ take/ miss/ lose/ be baokedon / board/ boak / resetuea flight. 2 A tlqht can be averbooked/ be delayed/ be held up / be divefte.j/ be boundfar somewhere/ leave/ depatt/ take aff / anive/ land/ be full / be ha(-enpn/ / be an timeI be cancelled/ be annulled

49.4 Marcusis telling a story about his businesstrip. Fill in the missingletters. Th€taxidiver dro ed me o at the wrongterrnina , and t took mesomet meto findthe rlghtch ior myai ne.Theni hadto payan exc baggage cha bec.Lrse mysutcasewdsso hea\ryAnyway,went passport thr controlandthenwa tedfor agesat security (AmE,ne).Wh € | waswating therewas3 lonqqu for my9 e to be ca ed, d€cdedto do someshoppng. I d dnI noticeihe t meqo by .nd I hadto th to b d the f ight.Durng theflght we h.d d ot of reallybad turb ce- whenwe tou dd I wasshdkingike a leal.I pi €d up mybaggaqe andw€ntto the cabr k outsd€the t€rminal. On thewayto th€ hote we got st in traffic,andthenat theendthe diver triedto I meo t andhe wasnt verypleasedI checked intothe hoteland waslookng forwardto an e ly ni blt the d sco n the hote ba5ement rnadethat mpossble 49.5 Th€email below givesdirections.Fill in the gaps with the wods in the box. blacks exit follow maln miss signpasted turn down fat far Leavelhe 1 2 F or o wr h eh a n r o a d , 3

frc-.way past

at,

! abourfourmlesunriyoLr come lo a argeShelgasslalononyolr rightYoucant r g h li u s 3 t l h eg a ss r d 0 na n dk e e pg o n gs r r a g hor l r o f l c e s a r e a shorld sla.ce'

yolr ngnr Whenyoua(ve arthe" gare.Seclrty willgiveyouavislorspass '3 theroao rou.dto lhemainreceptonwherehereis a vislofs parkngol Whenyooqetio receplio.iuslask , ne - fteyllbe expeclng yo! gve mea cal lr youhaveanyprobems. 't rnycet pnone younextweek. L@knqioeard to meeling

see page 151 for rome writing tasks.

Emaih 103

Emails- review 50.1 Fill in the gapswith verbsfrom rhe box. appreciate .antact do atter pastpane renind

teel shal

50.2 Write the numbeEof sentenc€s1-10from exercise 50.1in the boxesbelow. (afacror some a Thrcephrases us€dto give nformdtion

hesitate know take wonder

**t

1 Please .. . freeto me Tyo! lravednyquestons. we reschedule th€ me€tingJor | .. if yo! could glv€ me some inform.tion? lf I c.n .. any further adviceor pleasedon't assrstancei to cont.ct lust a qLrcknote to yo(] that itl the end of the quarterand the saes figur€sare dup. Let me it th€res anlrhing €lre can the

opportunity to tellyouaboutan imporrant staffchange 8 | would yourhep with rh|5. 9 Please that I will be awayircm the officelof thewholeoi nexrweek. 10 'm sorryto tellyouthai I haveto vsit to yourofficesnextweek.

I

b Twophr.sesusedaspad of a request II. l c Twophrases usedfor makinqaffangements L i I d Thre€final,frendy comrrents li Now do the sam€for sentences11-20. e Onephraseusedin d customer3 in tia enquiryI i Thr€ephrases usedin the supperSreplyto this nital enquiry i i g Twophras€s usedby the cunomeraftertheyhavedecided tobuy_ i h Twophrares usedby a customer asp.rt of a complant i Iwo ;hrasesusedbya supper aspartof a replyto a 50.3 Completethis internalemailandthe reply with the

attached aftend cnculate ca-opetation done evenl tnalized get back nuke sue nate put rc rcnlnd te|

Continuear before. subjp.(:

accept acknowledge assue clck dkcuss inttt nattce affer tesolve sentl rale welcome

you lhal lhe a(angedenls lor

11 Can callyou n a dayor two?| woud ihe oppoltunity io yoLrrneedsin moredeiar. t 2 Pease copiesof the shipping documeft andrnvoice d rectyto rne t l Please urqentactionio . .. thismatter 14 1.... on yourwebsite thatyouc.n personalize deskandwallc. endals. 15 lcan youwe aredo ng everrrhing we 16 We do

...

lheO. neMaderngsem.arhavenowbeen rl wl lake plac. on 28 Apr

ThrsI

s partot olr o.gong sratt p easeencouraqe peoprelo

rneedlo k.owapproxmat€ numbers asap lo meon lrrs by theendot nexrweek Thankyo! lor your3

quaniitydiscounts lor targe

17 must .. thatyougiveihismatt€ryour urgentattention. 18 Forluirher nfoffnaiion please onthe linkbelow. 19 Please . ..... receiptof thisorde. 20 Please . ..... mysincere apologies for any nconven encecaused.

M'q ,"

-a ls of

Youv€r! l h i sW e l d o . e | '

"

..

thepdlto everyo.eco.cernedand lhaleveryone knowsaboltit Canyou I ... meilthereis any imt onnumbers?m slre lherewiibe a otoi .lereslin our T h a n kasg a n Y . ouver!

r04

a l o l o f w o r kn r o o r q a n i z n g

...

agreatlob

50 EMAILS- REVIEW

50.4 Match eachtormal phrase 1-14 with an intormal 1 2 3 4 5 6 7 8 9 10 11 12 13 14

l'm wdtingwith regardto yourlastemail.I Furthertoour earlierconversation, ..- n | wouldliketo apologize for ... U lwould be glatefulif youcouldsendme ..- fl ls nextF dayconvenientfor you? [ Peasedon'thesitate to contactmeif -., I Thankyoufor the kindinvitation. n | waswondeng if youcould...?n | wouidbeverypleased to come.n | wouidliketo Emindevertlnethat ... n |willcont ct youagainin the nearltitrre.I We wish you everysuccess in the future,n Please findattached... fl | wouldliketo thankyouverymuchfor ... . I realt appreciate it. []

6 l'm surethat lcan count-your continuing (= during)futurc commitment months. 7 We willcontactyouagain-the nearfuture. I lhavebeentookingyourwebsiteandam interested ordering someofficesupplies. part,culat 9 I needpaperandcart dgessuitable 10 l'm writingto complain the poorservice we've your receNed company. please 11 the meantime, don'thesitate to contact you questions. me if haveany 12 We arestillwaiting-delivery these pad5. I 3 Thegoodsmustbe delivered to Busanpon-24 Aprilthe laten. 14 Pfea5e calfmemydirectlin€,1234567890. 15 Goodluckeverything. 5O.5 Compleie lhe $nten
a b c d e f 9 h

Thanks for askingme. Goodluckwith everythingl canyou,,,? Please contactmeif ... Reyourlastemail,,.. l'l get backto youvery5oon. Sorryabout... Following up yourea iercall,... Let me know f you canmakeit next F day. j l'd loveto come. k Thanks againfor allyourhelp.Muchappeciated. I Justa quicknoteto remindyouthat ... m l'veattached... n Please sendme ,.,

afta
if you@uldhelpme? youa copyof our l'm sending

2lwas

3As accounts,

usconsiderable

4 Thishas

our recentconveEltion, flnd olease attach

50,5 Fillin the gapswith wods frcm the box. about at at back W fot fot fot fron in in in in in of on an aver te to to widl with

ro oJr

motebustness

youin thefuture,

for

to job vacdng/ I l'm writing --@ Egard ref.no.TH729. job vacanq I'm writingrelation ref.no.TH729. 3 Nlanythanksallyourhelp. I wou d be gratefulanyinformationyou have on mts, Havea goodlookat the reportandgetme if youhaveanyquestions.

it clearwhenI spoketo youlast w€ekthatwe holdvouresoonsible, 8 9 10

DHL,IJPS or FedEx as to learnaboutthe late

delivery oI the pansyouordercdfromus. 11 Thankyoulor backto meso quickly. 12 We are interestedin from Fairtrade organizations suchasyoulselves. I have a copyof our brochurc. 14

to us.

Emails 105

Presentations- opening Thereai€ a greatvariety of presentaiionconiexts: Col p.., pr.'pnrJ m i u r p r o d L .r s . harkets, plans for the f!ture). . Produci prescniation(featuresand bencfiisof a nei! p.oduct). rL Internal presentationreporting financialor salesfigu.es. a Internal presenlaiionanalyzinga problem and sugteshng 1r Welcomingvisitols. ' A - \ , ' ( r . . o r h e r F \ n - - p F a lc l l . n t t h h . rm , . r u r 8o r . 1I additioll, dre.car. a \,arieiy of presentaiionshles: /:' formal, sfructuled,rehearsed,iaking qucstionsat thc end. /r Info.mal, partly improvised,interal:tint {'ith the nudrence. 4, Somewherebchrccn ihe h!o: using a basicstructurc,but alownrg occasionalopportlnities for quesiionsind inte.action. Which style yot usc dcpcndsnot onlv on your audiencean.t its cxpecLrtrons, tui.lso on vo! ard lour per$nali\r Itcad ihe opennl8to i t'clcomnrg \isikrJ presentihonin the n.\t.olunrr. (Th( miin body and ck)seof a prese.tationare .ov.r.d ln lrits 52 53 ) Noii.c ho$ thc prcs.ntcr begnrsby giynrg ans\Lersto a11the ph.ii.ii qresti(insthat nright be nr ih. aldience'smind l c t \ \ h a t j s t h L ' . i mo f i h i st . l k ? I l o w l o r g r ! i l i i t I a s t ?l { i l l th.r bc a IrrLIk?Who is ihc pcrn)n spe.king?Who is ihat man The pr.s.ni.r thcn givesan outlinc of lh. siructurL'orth. Finally,befd. bogitulnlg,the presoter makesii cl..r $hcih.r au.jiencenxrnb.rs can iitcrrupt rliih questioDs,or kcep them

well, good noming, eyeryone. On behau of BCC lnternationalI'd like to welcomeyou here to our offlces. Cd elervone seeat the back?OK. T h p J n o l l h F . h u f l l d l l r . t o B i v ey o , i n o v e d i e $ ol our companyand its products.l'11speakfor abolt thiriv mimtes, and then rvc'll iake a break for coffee and biscuiis.After that, ni aroud ten thiitt we'li take you on a tour of the fnctorv Before$,e begin,just a few words aboutmyself. My name is Anna Edelmam and l'm in chargeof public lciations hereat BCC.I'i.c b.en with ihe companyfor h{che vears,and I sokcd in ihe salesareabefore l should also iniroduce my colleagueMiAndersen over thcre in the comer Mr An.lc.senis our plant manaSe!and he willbe lcading the fa.tory tour. l'v. dn'ided this presentitioninto four sections. First l'd like to show you a timclnreof our company so you can seehow we'vc g.orvn an.l developedover thc vcars.fien I'll talk a littlc about our markel and how it's chanlling.After th;rt l'll move on io disclss customization,and ho$,we fecuson tailoring our productsto our customcrs'noods. F i n a l l , I ' l l g i v e y o u a l i t t l c t o c h n i c abla c k g r o u n ido help you understandthe n.w technologvthit you'lltrc seeingon the factory kNr Ii you haveany qu.sircns,pleascfcclfrec k) intcrrupL. OK,lefs begin with ihis first slidc,which show5...

fhe phrases you need gg Cet attention anC inler,651 OK,letsgetnafted Goadnornlngeveryane andwel@neta Letme askyoua questian(+ rhetorcaquenon) Caneverybadysee) Takea loakat thispicturc Whatda-.sn rcllyauabout. ? BetareI begln,1d like ta thank(nane) for )nvitlngne heretoday 5omebo./y orc€raicl 1+qlotation) Onbehalfaf BCClnterhatianalI d like to v/e\(oneyou hercto Didyau knowthat ..? (+ slersing ndtrttl:) tt's gaod to seeso nahy peopleheretaday. l'm veryhappyta be here. Personal !ntroductio|1s Letne staftby introducinqnyseif l\,ly nameis lust a few wardsabaut nyself, Perhaps I shouldjust intrcduceonear tuvopeoplein theraam Ll!?iert;re Thetitle af ny presentatian)s . ThismatningI m going ta talkabout . . Thealn af thisshoft talkis to . .

106

Audience ltreneii't I hape thispresentationwill enableyau to .. 8y the end of ny talkyolt will itru.ture I ll speakfot about thiny minutes. , .".litd"d

nt GlL ." a fou! n"t pdfi. s.c\ar.

Thenl ll talk a liftle about ... After that l ll movean ta .. It you have any queslons, pleasefeel frce to tnteffupt. Ot ].t b.oi âh the ltt , pa.t Lde ^n.cr 4

- OPENING 51 PRESENTATIONS

Exercises 51.'l Coverthe pageoppositewith a pieceof paper. Makephrasesfrom the presentationby matchingan item 1 On behalf- ---\ 2 cdn €veryone \ : lusta few 4 5 6 7 8 9 10

'm n charge ',dtk€

l' lalk l ll move We iocls L'l g ve you Let! begin

seeat the b.ck? of publicrelarions -\of Bcc rd tikero

with ihis filst nide on tailo ng our products... on io d scuss(unomizaiion aboui o(]f marketand how .. a ttle technicalbackground

51.2 Th€reare manywaysto deate an impactin the first {€w minutesol a presentation.Matchtechniquet 1-8 with phfasesa-h. 1 rhetorcaquenion I 5 2 thankth€ organzers I 6 3 surpris ng statstic I 7 useoi visuals 4 audience invovementI 8 quotation l a Takea lookat thispicture. Whatdoesit le youabor.rt teena9e lashion? b Everybody who thinksihe nternetw killtraditonal - putyourhands adve(sing up. Wo! dnt youI keto doubleyourua€, if justtwelve month5? Charles Datuinoncewrote,'li is not the strongest of the specesthatsurvive, blt the on€smortresponlrve io change.' I'd liketo thankOlgafor allthe hardworkshehasdoneto makethiseventpossib e lwantto share something withyou. yo! to choosethe most wrllenable I I hopethispresentaton con'€ffeciive T soution 70% ol al Amerc.nssaythatthey'recarrying so muchdebt that its makingther homelivesunhappy

51.3 Makepresentationphrasesby usinga verb 1-'12 with the words a-I. l b e r s gve. I 9 ndd..:l 2 takea break.. 6 introduce.. tO tute l l I dlvide I tay.. : 1 1 r h : n k. . 8 speak.. i 12 wecome t ] a a few wods aboutmyself b .ny qLrestons at the end d for aboutth rty m nut€s e for cotfeeandbiscuits t (nane)fot nvitng me heretoday

mytalkintofourparls I oneor two peope n the roorn k by inircducng mysel 51.4 Createdifferentways to op€n a pr€sentation,using the verbsin the box. deal autline

dl5€a55 fill give laak repaft show take talk

Gaod moning evetyaneand thanksfot.aning. Thismoning I

,ri,ii,.i

t h e i s s u €o f f s k , a n dw h a t y o u c a nd o

2

you an overvew ol the companyand

3

yo! how to sel moreelf€ctvey io

4

aboutinvestmeni funds:howto choose them.\,1/hen to buythemandwhento sel them. 5 backto youon our progress with the 6

at a varetyof greentechnologies that d " '"lp no ro corrballhe t! edto' qlob. \ad,rrrrg you n on the background to our involvement n the Brazianrnarket. a ookat howwe got intothe problem wth our ocalaqenrs ln theUKandhowwe can ih"t,,.(,,esLt.

lromour consumer survey 10 sornedetaledrecommendat ons abouthow to reorqan zethe department 1l o!r newmarketrng strategy. 12 wth the temouistdnd ngfromolr astm€eiing:fundinqour R&Dactivties. 51.5 6 6 Speakingpracticerlistenand repeat.Repeat eachphrateyou hearand then listento check.

@

,r"r",rr.aions- mainbody

'Th€ phrasesyou

ned'below shows someptuases that can make you presentation easier to follow You will have to supply the contentyouself of coursel 4/ Signposts: these ale phrases ihat say (here you'ie 8oh8 in rpm\ of lh. mrin rup( - ol \ our r.rL ,? DcvploDi .op( tn, -e D"ri.e. d'e rrui-srCnpo-rwithin a topic. By cxplicitly saying what l.ou re gohg io talk abouinext, the audiencecan follow

''

... Or, ters mou" o. to rhe nexr poini, which is wmo enelgy ieclnology. The mdkei for wind tubines. is shifiing toom otrhore to oifslble. It might be Getu1 to give a liiile background hde. As you cd s@ on this ncxl sLide,onshore wind fams have several draivback: tust you ned a ieLiably windy iftatioo se€ondthe l d t u Ld . . ' " r p \ - - c l p o u u d . r . a n d t l u d t n p r ea r e . o m es e r i o b enginc.ring questions. What are these engineering questioro? Basically rhere are two issues.Firstlv,the stabiljtyof the struciuieas you make ir bigger md sccondLythe problemof hai ing the bladesalways facingthe wind. So the trend is towards offshore wind fams, ano n€ic are some cnginee.ing.haUenSeshere.Have a look ar this slide it shows thc designfor an offshorcturbine that sits on the surfaceof the sca. It's threetimes more efficientthan an onsho.e tu.binc oi equivalentsize. What is the reasonlor ihisT Thc reasonis that it usesa completelydif fereni design that isn't dependenton the wind clirection.There is a Ia.gc V'shapedst ucturewith rigjd'sails'mounted along its length.As the wind passes over thesethey act like ahfoils" and rhis gcnerateslift and htrns tho structureas a whole. I would like to stressthat this designis not yer in commcfcial production,but a prototype is currently being resredoff rhc coasrof Scodand. OK. Are ther€any questionsso far? Doesanyonehavc any

(, Focus:theseplrases are also mini-signposts. Youle saying io the audience:'pl.ase pay extra alieniion for thc next few fromcnts'. 't Question answc. askinga qu€siionand rhen irFhpri.ri',our,lIi.d.anddrd rc.hni.lup.n publi. .pp.'\in8 Th. tuej ,'n , -clc, interer r ihc tnind of the listcn€rs,ihe answc. providesthe satisfactimof closure. I ttcfer to visralsr bc carefulnot to rclv too much on your slides.s thcy can sendpcoplc into a tranceof bor€dom.Di.cct aiiention back to vourselfofien. Ask fd contributions:stopat scvcralpoi'rts during the frain presentationkr takc questiors- it (rcai.s rnter.st and makesthe p.csentationmore R..Lt thc presrntationextrnctin thL'ncrt columr,, q hich showssomc of thcsctechniquesand phrascs nr contc\t. The contc'ntin ihis cas. is rechnic.l - about wind en{rgy rcchnohgy. It Lookingjust at dlc first half of ihis cxtrad, norice how thc p,€seDtorguidcs the audicn.cr signposting t l r ' n . ' i n l ^ p i . r . ' r ' n g l h . r l! , m . b d c ( B r ^ u n d, : . u m i n gn c \ r .d i n c r i n gr r l e - n , {tru d , i d o r . ,- , n g . l qlrestionto createintcrest,focusingon iwo issues. Allof this makesthc preseniatioreasi& io follow.

r \rinJ rurbinr:lallsrn'.trtrwrh pirrsrlrrato iumcdby lhewind,uscdtor "

atlojl:.ud&l

pid on af air.rnfi s wing rhir helps ir kl.i*

in thc air

The phrasesyou need B Signposts AK Lets nave an to Iturnaur attenttanto .. / takea loakat . . Thisleadsne to ny nextpoint, whid EarlierI nentianed .. l'llsaynorc abautthislater/ t'ltcome backta thisin a monent Justto digrcssfor a nonent, . . Develop a topi( It might be useful ta give a liftle Lets examine this in n,are detail. Let me explain with a.ancrete lt4y awn view an this is . .

r0E

Easically,. / Toput it sinply, 5a, tat me,thenain issuehercis ... Ithinkthe,earethreequestions to I would like to stress/ enphasi2ethat

Reter to visuals As yau can seean thb nextJide . l'd like to highlighttuvothingson this table/ chan/diagtan ... What]s lnterestingan thls slidels . . I d hketa clrawyour aftentbn ta ...

Ask for contributions Are theteanyquestionssa far? Question-answer Whatb the rcasonfar this?Thercason Doesanyonehaveanycomments? Hov\/doesthis relateto yau own Haw nuch is thisgoing to.ast? Well, the figues shaw .. 50 whatcanwe do aboutallthis?t'11 tellyou Weplan ta

- MAIN BODY 52 PRESENTATIONs

Exercises 52,1 Coverth€ oppositepagewith a pieceoI paper. Now try to rememberth€ words below.Sometetters I 2 3 4 5 6 7 8 9 10 11 12

Ths I s meto my nextpoint,whichis ... EarierI rnen . ...ned... 'll c b ...to th s pointin a moment. justto di s! (= sdetrack) for a mom€nt,. Let'sexamine this m de L Letmeexpainwith d con .le ex | th nk thereErethreequenions to f lwould keto st (= emph.size) that . .. youc s on thisnexts de, ... 'd llketo high t two rh ngson thischart. W inieresting in thisslideis .. Howdoesth s re te to yourown particular cont t?

52.2 completethe presentationextractwith the words in th€ box. lt is an alternativeveEion of the presentation opposite. enphaslze havea laok li.u'"o"tii gs so an nyavn view notice

' ar tns nexl 55 or, tet s ide. t showsthe desigiior an offshore tubine tharsitson the surface of the sea. I'd keto z . on thisdiagr.m. Firnly,3 ....... theV*napeo struct!rewrth'sals' mouniedalongitslength.Secondly, thiswholestruct!recan turnon its base,poweredby theactionof the windon the Thisis howelectrictyis generated. sails. .-....... . on thisis thatthe design - lt'smoe efficent is. bg improver.ent on earlier versons |n termsol energyproducton,anditk alsomorestabewith it9 so d b.se. Bythe way, mustjult b ......that ihisdesgnis not if cornmercial pfoduction. 7 ..... oK, afethereafy questions 3...... No?Then .... to the nextslide, wh ch is a graphshownq the prciected demandfor ofishore windenergyoverthe nexttwentyyears.!t

Theext.actyoujust lookedat showsseveralpo nts about relerringto visuas: . Thespeakerintfoducesthe s de ctearly. A tongpauseat lheendoi thefilstparagraph woud be good givingthe audiencea chancelo studythe s de sitentiy. . The speakeruses firstly and secondy to tsl points. Again pausesaftereachseparalepointwouldallowthe listeners timeto absorblhe information. a The speakermakesa personalcommentfhis creates Interestand is one way to avoid lhe dangerof lust readingthe texton the s de . The speakergivesa chanceior questionsaboul ths

52.3 Readaloudthesetwo versionrot the same sentence.In the se@nd,put a strongpausewher€ you seethe // symboland a strongemphasison the underlinedsyllable5. Ve$ion A Themarketfot wind turbinesis shifting from Ve|sion B Themarketfot wind turbinesis shifting// from glshote ll to qffshare. Canyouheara diff€re.ce7 Thesecond versionh;s moreclarty Mark with a // symbollltCg placesin this sentence where you canpausefor clarity. 1 Asthe windpasses overthesetheyactlik€ai.foikandthis generates lift andturnsthe siructure asa wholp Underlinet!49 syllablesin this sentencethat you (an emphari:eto c.eateimpa
n t b t wth my tlnt nt a l k t

6 1 8 9 l0

xpl n c \ | c . n sd r mnt n t..cs n

52.5 S 7 Speakingpractic6:listenand repeat.Repeat eachphraseyou hearand then listento (heck.

Presentations- closing and questions The following sequenceprovides a guide for how to end a Preseniation eflectively. i Signalihe end: lhis meansusing a tignposi' ptuaseto tell the audicnceexplicitly thai you're Soing1ofinsh. (See unit52 for ihe meaningof'signpost phrasc'.) :' Slmmarizc: summarizethe main points, md .dd a fcN obsen,ationsor detailsfor inte.est.fcrhaps hale bullci points on a final slide,and then girc a ]ilely commenl aboui whai reallv matiersf.r. cachone (a'i.ke-hone Concludcryou can concludewiih. fliendlv commeni, a fnlalslidc (wiih a shong inag. or mcssagc),b! mentioninglh. benefitslorr talk h.s Encn thc audicncc, or by l@king Iomad to the futu.c - Mith a call io action or an nispnaiionalmessage.linall)t a strcng 'Th.nk lou all fo. coming' $ill hopefully p.oducc somc ipplausci Invite queslions:'Do )ou hire inv qucstions?is usunlly Dc.l s'ith qu.siions: tho b.sic ran8. oftechn\ues.rc: 1 ltcsFondpositivei\,', thrn ins$'cr 2 Cli,ify / Ask for repctition. :l ltc.lircci io thc qrcstioncr + Itodirccii() lhc g(ntP. 5 Dolav an i,nsx'cr 6 C o n t r o lt h c l i n i n S . Itead ih. prosentitiul cxhaci in iho ncxt colunu, $r1,.n sho$,ssonr. of thcsctcchrrquesind phriscs in contcrt. li is t h e c l o s i n gp . r t o f . ' w e l c o m i n gv i s i i r t r t p' r c s c n t a t ( .

Right, that brings me io the end of my presentation. Justio summarizeihe main poinls again:Ibeganby telling vo! a littie about the hisiory of our compant and you saq' our growth from a smail family firm to the intemationaloperationthai we are ioday. f \ , r I r . ' . l p da D o - lu u r m J r l e r , . o h o w n p r . technologiesare openingup cxciting possibilitiesfor the Alter ihai I erplained horv customizationis at the heart oi our businessmodel our dienis all gei tailormade solutionsbasedon their individual needs. Finally I gale vou somc informaiion about our manulacturingptucess,.nd volr sarvhow we achleveour erceptionallevelsof qualit_vand pcrfornan.e. OK, l'd like to finish by savint thai it's . great pleasurc ror us to welcomevou heretuday,and I hope thai you enjoy the factory tolr which ac'vc plannedfor ),ou.Wc'lL siart on the toui after n sho.t brcak for refreshments. Thank you all for.ominS. (nptln!s.) l've 8ot somehandolrtsherc- l'll passthem round. Thcy show all the slidesI uscd in my talk and my conrrct ctctailsarc at the back. Do you haveany quick qucstionsbcforc wc brcak? Yes,the gentlemanat ihe back with thc rcd iic. Comparu l h o o p . n i n gi n u n i t 5 l w i t h t h . . l o s i n g c x t r a .kl ) thcsanreprus.ntntion.bovc. Th. pr.{ntcr ktd thc.udifn.a sllat shr s.! going to siy nt theopcning,.nd now hercit thecl(){ shorupoitsthc main pointsagaitr.lhis rcnrforfts the kev casnndm.kcs thcn easierio rcmembc'.

fhe phrases you need t€ Sign:ll ih,o enrl Right,that bringsne nea y ta the end of my prcsentatian 5umnr:rize Just to sunnaize the rr,ain pointl aqaln, So, ta sumrnatize, we laoked at fout main points lbegan by tellitg yau a lttle abaut . Then I talked about Ahel that I explainedhow ... finally I td hke ta finish by taying Sa,tn canclusian,I hape that thls talk hasgivenyou ... Naw we haveto . / t'n askinga af you ta ... / our joh is Thankyau all for caning I hape it's been useful

110

Pr.!'iiczl inrtlerr t vegot samehandoutsherc. Heresmy emailincaseyauwantta get in tauch jnvite guestions Dayauhaveanyquestians? Yes,theqentienan/ ladyovel the,e^lnhtherccltte/ the blackjacket. Ilow if yau haveanyquestians,l'11do ny bestto answel D e a lw i t h q u e s l i o n s Thats a verygoadpoint / l'n qladyouaskedne that satry canyou explainthatagain? 5a, I I understandWU caftectly,you'reasking... Thatsan interesting questionWhatsyaurawn apinlonT Hasanyaneeheexpeiencedthe samething? I thinkthat outsidethescopeol thispresentatlan, but I m happyto discussit with you afteruvards. OK,lthtnkthete'stine fot anelartquestian.

- CLOS|NGAND QUESr|ONS 53 PRESENTATTONS

Exercises 53.1 Completethis extractIrom the dose of a presentationwith the words in the box. tt is an internal presentationabout departmentalreorganization. genetateda lot af dis.ussrcn give the flool taak at sane aptions nay be forced au job is ta cansider that coversevertthing thereis the option to the next steps somedifficult de.isi.ns w)uld lead ta

6 6 R q h rt ,r h i n k '

I haveto

say.Beforcl fin sh l' lustbriefy summaiz€rhekeypoints,and tirenwe cantry to cometo a d€csionandfocuson

53.2 Studythe phrasesfor dealingwith questions below.Tryto 9ue5sthe sinolemissingword in eachgap. Write your answerslightly at the side.Severatanswers may be possibie. I Thdt'sa veryqood .........-(Thinkof sonething elsebesidesquestion'.) 2 Sorrycanyou thatagainT 3 Hasanyoneese . ..... the samething? 4 OK,lth nk there's trme ........on€last 5 That'san interesting quenion.WhatSyourown ' 6 sorryldidf'r

So,rightat the beginning I saidth.t the a m of my presentaton wasto r . for reorganizrng ouf saesandmarketing operatons. Andl expainedthe reasons why. Weexplored threealternatves. Filrty,we lookedat keeptng botha salesdepartment anda ma*etingdepa(memin every countryasnow,blt rcdLrcing all budgetsandlookingfor cost possble.Spendng on advertEing savings wherever will be clt backconsd€rably, andwhenpeopleleavethe company theyw I not automatically be replaced. We canexpectthat everyoneS workloadwill increase a Secondly, brcakup the natonalmarketing teamr,whilekeeping the salesteams.Al marketng carnpalgns wo!ld be run centfally fromheadolfice, eavng jlst a skeleiofnaff in othercounrer.Thisoption . thatmanyof , andI sense youfee it'r too drasuc. However itt theoprionthatolfe6 the gr€cles'cost sar19s,dndwe o Thefina opton is the possbiity of mergingsalesand marketingnto onelargedepanmenrn everyma*el This greatercoordinaron, some costsavrngs, but . so a lossof foc|]s.I wouldlikeio hearmore d scusson aboLrt whether th s optonisviabe. 5o,in concuson,now rsthet meto take . .......... l'masking all of voulo eo'e deoarr.leltd oy" iesro ore sroe ........... ihe futuresutuivaand proftability of the comp.nyasa whote. Thankyou6 ior youratt€ntionNowt'll .. to youior your quenions a|1dcomm€nts. tQ

.... rhat. (hink of somethingelsebesidesundestand') Ithinkthar's outside the : of this p€sentation, but i m happyto discuss t wth you

8 Im ... . youasked methat. 9 | promised to f ni5h t me,andI see thal it3 nearlyten o'clock. 10 You.... qute a lotabout . havethought th6. Whatconclusion haveyou to? 1 1l Couldyoubea lttlemore 12 Anyoneiketo on that? l3 | dont havethatinformaton to Can| get s ihatallight? 14 So,if I undeGtand you askrng ,. Now fill in the gapsabovewirh rhe suggestedwofds

aheMatds back .atch conedty erpeiehced explain nust an apinian palnt

53.3 Malch phrasesl-14 from the previousexerciseto the te.hniquesb€low. positvely a Respond [- ,-] b clarify /Askfor repettionli-li-t. c Redirect to the quenioner f i . d Redirect to the groupI : l e Delayan answerrl rl f Contrclthe timng: i l 53.4 S 8 Speakingpracti(e:listenand repeat.Repeat eachphraseyou h€arand then listento (heck.

The languag€ of trends is important not iust fo. pres€ntatids, but ako for business leporls. You may want to des.ribe movemats in financial indicators (eg I,rofits, co6ts), sales md f,a*eting indicators (e8 sales,mark€t shaie), or @nomic indi@toE (eg inbr€st rat€s, unemploytlmt). Often this lan$age wiil be used to explain a graph or chart Many verbs descdbe the dtu€ction of movemerll

st bility andInsrability

Movementup and down I kll 90 doM / decrease

.

/

+t\y'\+

\ tatgEr movemer{ up and doubleI takeofl I b@n /

Jf

Altemativel, you may want to rctur to tulnhg points or individual points:

-l-

'#is"""""lf V Hrhr"*. "". "poln$

Indlvidual polnts on a

|

Someverbsdescribea changein size,and othe$ saywhetherthings ar€good or bad:

'm#,Tx!,r*'t^y h, I i;0,."". Good/ bad

Ctrangein siz€

o-O*o

I sales

I

To makeyour descriptionmor€a€curateyou canthen talk aboutthe speedand amountof dange: co|EidenblyI significantly n&Btely I to sone adent

-r-

Try alsoto get the piepositionright: Salesstoodat €1.2n Saleshercased W il.2i, | 15% Salesroselfttn €1.2to A.4n

Thqe was atinq?tse in s,'lesol €0.2n

And finaly think about the verb forE|Time pedod complete (past simpl€) satesmse W 2% last quttet.

Action / situ.tion in pmgr€ss in th€ pasl (prst coniinuo8) Things wrc ersiet in the conwry alew yarc ago,while profts wee tui'tg.

Time perioil noi complete (pEsent peifect) Pnfts haoe n6efl EignifranttV this vear. ker€nt reEult of a pdt action (pr€6€nt perfect)

Showirg that one pat €v€nt happened before dother (past pe ect) B4oft tte cEo ftsignd ptufts had tbeady lo enby20% h'awr. 'will'tulur€ for geneial b€liel6, pr€dictioB dd lads

Pncesh@e nsen because of highs naterhk risLs.

On dt lpditors ui

Action / situation in prcgBs

now (present

Infatiofl is tising at the ,noment.

lace ttu *nE Wbbig as us. 'going to'frt|E when there is stroag F€seni evidene for a pEdiction E eryW tu?s o1Enew plodu.t line - 1'1nsffi it's goins to be o succ5s.

All the language above Efers ro describing tl€nds. In lmit 55 you'tl s€€ some language for analrzing trends.

112

)

- TREI\IDsI 54 PRESENTATIONS

Exercises 54.1 Matcha verb on the left with a verb on the righl so that they have the sanoemeaning. Not all the words appearopposite. 1 g 2 fall 3 mprove

5 6 7 8

mov€h gher eveloff shrnk edgedown

disappointing utouraging enormaus yadual nadeate Epid slight

rise

stabilze

fall ht a low

Pastsimple

5 grow 6 expand 8 improve 10 vary 11 tuve 12 deteriorate

4 5

2 3

54.3 Completethe table with the correcifo/m ofthe words,You may needto usea didionary go up grow rise tal

8tG

FAST l

54.2 Matcha verb on the left with a verb on the rioht so that they havethe oppolite meaning. 1 boom__=\ -----cr.sh shrnk 2 double vary 4 grow drp 5 improve detenorate

1 2 3 4

..

I

be stable

lf thereareanyverbsaboveoroppositethat you arent sure about,.hecktheirmeaningca€fullyln a dictionaryForexample, the word'dec ne'- not mentonedin thisunit - meansboth 'decrease' and 'getworse'.Alsocheckto seeif the verbcanbe you cannotsayWe.ore our usedwith an object-for example

6 peak 7 staythesame 8 fse

54.4 Write the adj€ctivesin the box in the corred space below.Not allthe words appearopposite.Che
Pastpanidple

!eILUp................9p!e..c?...._

SLOW

1 8 9 SMALL

BADNEWS

.t 54.5 Rewritethe verb + adverbsenten
-qe]1.4l

S.7 Underlinethe correctforms in italics.Eachverb form is used once. so far tnisyearwe 'saw/ haveseena ot of volatility ff in thefinancial markets. Thecurcntsitlationin the world ecooomy2is.ausingI had causeda greatdea of uncertainiy in the mindsof investors. No-oneknowswhatthe future twill bring / is binging. Lastyearthingswerc verydifferent: aharbeen/ wasoptlmistic 5were everyone andihe markets risingI haw risen.Of
99

Se€page 15Jfor somew.iting tasks.

Presentations - trends ll Unit 54 gave somelanguagefor desc.ibingtrends.But in a Presentationor report vou will probablv alsohaye to gire someanalysis.Yo!, nray irali b gn,e reasonsfor the hends, to show iheir results,o. to Biveadditional information. Rcid ll'r- p\r-.r lror in .-rr1r,lprp.ent.rri. . 1rl\/. .B

rSalcsfor ihe fn'sthalf of the ve.r $'ere disappointing, mainly becauseof the lack ofnew prodrct lines. ':How.ver,r!€ launchedhro new lines in ]une and p r o no r . d l l ' e n s , r h r . l r o l g m J r le r i r L. i n p r r A n o l e r ihe surmer. rAs a res!lt of lhis cimpaign, snlesbeganto imp.ovc. {Ev the end ofAugusi th.\'r'ere 10.r higher on : ) c J t r o r F y ct.,rFr i - ./ l l l ' o u E hl h . f e L l l " . r ^ r B . r i n . \ p r Septenrbc!and Ociober Scntcncct h.sthestrrctl,rc'.csult' (lis.ppoirting s.lcs) 'rcison (Lr.k of ncu |.oducl lnrcs) S€nience3 has thc 'res!lt (salesb.gan sltr,clurc 'r.ison' (ihis c.nrpiign) l(' i'npu'c). Thd worls /',rr,!s. (t. nsd ^r/r o/ nnd dr. r,, . . f a l l L r cl n i i f R r i ( f c c I i n d s . n i . n . . 3 i n . s i t n i l a r S.ntcr(L 2 lr.gins with ,onti).,,.rn!l ihis $or!l adds aa . r . r r L ' n ' u - J r r ' \ , r , r n ( . 1( L l . , i l r r h t . ( \ r { r . Riton.u. fhf ilo'l1s ,.rfa drdl,d,ris anli.r(, !, c<1n . r l lb o u s o . li n . r s i n r i l . rw i r l h c \ . ' r ei l l f ( n l ( \ ! c d t r ! . 1 Sontcn.crt hasdl/l,drr/,ii thc middlc of th. scnirncc This wdd t()l'lucesan idta th.t is su$risnrg afier n pre\ bus idL'nin thc snm. s.nicrc.. Comp.rc Mith /],)nr'..r (hich rcius backtoil differcDlsonllrrcc. ,4lir.rsr..n nlso b. nscd al thl' bcginning of n senien.., blri ih. N\o cont|nstnrgid.as .rL'still ii thL's.mc scnt.n..: Altharsh srlcsroft ltish.tttt th. aitl of Arlrit, th.ttl.ll lr[k ,Srn' t, -st/.rlb The sards r//ror.!/, .nd d., rrdr.!1,cin be uscd nr a snnih. sav Now read ihis ne\t e\tract from ihc sam. prcs.ntation. 5Thisdrop h srles over Scptcmberan.] Octoberled to a seriesofmeetings s'herewc cxaminedour whole shategvin d.pth. !'Chrishnaswas approaching,an.t the Chr;tmas scasonproducesa largc p.rt of our amual sales.TMoreovcr,we h,erelosing narkei shareto our main .omPetiior 3As a result,we in.reasedour advertjsing budget for Novcmber and Decenber and chalgcd ou use of differentmedja.'yOutdooradloiising on biilboards, b$es and bus stopsinc.eased,while our a.1lertisingiI magazinesand newspapersdecrcasert. Sentcnce5 has the sblcturc 'reason (drop in sales) 'result Geriesof treeiings).The sentenceusesLhelerb 'lead io' io expiessthis. The lerbs /.ad lo dd,"rr/1tr ce be used ina similar Far. 1i.{

Senience7 usesMdfurc/ to giv. additional information that supporis the previoussentence.Th€ words Molcoret Furthuinrc anll Llladtliti can all be usedin a similar sa\: Thevle all folloved by a coma. Sentencc6 usesAs d rerrll b give ihe r€suli of the oltltir Pre\ious sentence.The wotds As n rc.uU,Bccnuse and T/,.relof.can allbe used in a simihr rvay.They'rc all foll$led bv. comma. Sentencet has r'/ril. in the middle of ihe senience.This n"r,\.. -ir.lp,.-ri. lFl*.cn tw,, .! \..(.np.rr. with dllllorl.q/l $,herethereis a scns. ofsurprise ) The rro.ds nt!/. and a'llRrr c.n bc uscd h i similar way. The tablebcloi! pr€sentsall this languagctogcthcf.Noic that some$ ords lik. A.drrs. d/ and tr sfilr, (,farc foLlorvcd immediatelvbv n noun phrase,whilc othcnvords likc 8.n s. and 1,,sril!..,tir. /ir.r rrri are rdlowcd by a subject+ B(rt! 8&?r! ,t:tit. ht :pit.

t)f the nrketu'g.rhpnip n lrn(,!rt\,., n\$ttt. r,c tdd d ,!rt.rtr{ tdkl i! h llrt, srtt! r\.nns.d. offhe poor tu.nth.t i't ltu, t$ ... ol tht tit(t tllat th.t. ens pot t\\ttl1( r1 lrl1t,sdl$ ..

fhe phrases you need t€ Reason result {ie (ause consequen(e) Because af / Dueta / As a .esultof + noln phrase, 8 F Q u , a D u a- o - h p . a .rtr a + , . b a r , , a . o reIetrn9 to the prevo!s sentenc€ Eecauseof ths. / As a result,/ Thercforc, lea.l to / rcsult in Result reason (ie consequence becauseof / as a rcsuhof / due to

cause)

Making a simple (ontrast . whtle / whereas Adding a surprising or unexpected idea Hawevet,/ Neveftheless, / Evensa, ]n spneat / Despne+ rcun pftase, ]n splteaf th-. fact that / Despir€the lact thai + sublecl . , although / even though Althaugh / Eventhaugh ,

Giving additional information Morcover, / Fufthemate, / ln additian, .

Seeunit 69 for other e ords like As r r.srl, Horrdoel and &l.r?dfdr that begin a senten e by making a link to the

- TRENDsII 55 PRESENTATIONS

Exercises 55.1 Findand correctthe e!9 mistakein eachsentene below.lt couldbe a missingword, an extra woro, or a I BecaLrse ourconsiderable cost-cuttLng m€asures ast quarter, protts roses ightly. 2 Becalseof we cutconsconsderably an qua(er,profits roseslighty. 3 Earnngsf€llby8% astyeardLreour ncrcdsed mai€rdls 4 Earnngsfellby 8% lastyearasa rcsultfrcmolr ncreased 5 Diffcuitmark€tcondtion5reslrled a siqnificant declnein 6 Thesgnficantdeclin€in markersharcresuted of diffcult narK€rconoronS 7 Thischaftshowsthat brandawareness increased in SouthEastAsia,wheret f€l in tatinAmeica 8 OurcompetitoB aregainingmafk€tshare.More,theyhave a whoe newprcduct ne comng out nextmonlh 9 In spilethef.ct thatwe delay€d the l.unchol our new o o d L ' 1 ' dg e ^ e s l

Ldd odo.ab4r.i,ril.
l0 Despte we del.yingthe laun.h of oLrrnew p.oductrange. we nill had reasonable resultsast year 55.2 Complete the presentation extract with th€se words: ar a fesurt due to, even though, howevet, in spite ofand morcover. Use a capital letter where n€cessary Be carefull Readthe whole text before you begin, and wfite your answers lightly at rhe side untilyou're sure. W e . ' F o p ea t l g i "r"r/d'1c-rb-srnesse-vro-re1l and ihis s argely' the hiqh priceof o i l E e g , . o s t (a e o 1 e o r l h e b g g F s lc o . r sr . o J r b r s r - e ( < . ' we ve introduceda ot of enerqyefficent machinesn o!r factoriesover recentyea6. this investmeniin technology, energyst I accountsfor :8% of oLrrdired cons - and 1 its v€ryd fiicLrliio ncre.seprofir margns. 5 , i's noi a bad news Market shar€is grow nq dowy and we've signedsome mpo(ant new cont.ads.6 , our recentacquistionof a compdny n Brazlgives us dccessio the Latn Amercan markeifo. the fid time. N o t c eh o wa p h r a slei k e ' a sa r e s L r l t ' d oneosl a w a y sh . v et o comeal lhe beqnningof a senten.efollowedby a comma.l. #4 _.orp\ ! rle. oolF..'- d o Vd\ ' o I e^ 'e 're Le d! " wo! d meanthat tlre presentation doesnot low so well.

55.3 In unit 54 you saw two simpleforms for the future: wi andgoing to. Howeverthe future is not certain,and to makeforecastsfor trendsyou needother language that showsdiff€rentdegr€esof probability. Matcha sentence1-5 with a sentencea-e with a similar meaning, I 13hghy ikeythatwelmeetourtargets. 2 Wete I key to meetoLrrtarg€ts. .' 3 1 mightbe thatwe meetourtarg€ts. 4 Wete unlikely to m€etourtdrgeh 5 ltb highlyunlikely thatwe'llrneetourrarqers a b c d e

]heresa goodchance we l meetour larg€ts. Ther€salmostno waywe meetour targets. Ther€snot muchchan(ew€ meetou. targets we realmostcertan to m€etoLrriarqets. There's.50/50chancewe m-oet our targets.

55.4 Completethe presentationextractwith the words in the box.Thisexerciseindudessom€new languageas w€ll as languagelrom units 54 and 5s. axit a slighttnctease akhough havebeenttat hiqhtght highlylikely lnpli.ations in linewith leadta notie nate tapidly rcacheda peak roughly while OK.havea ookat thisnextgraphThereare twohnesThegre€nlin€,wth vaueson th€ eftv€rtca showssa€s Thered ne, wrthv.lueson th€ rightvertic.aris,showsprolirs. l'd keto: rwo th ngsherelhe Irst s ihe sale!graphAsyoucan see,sdlesrosesteadily lor manyyears.but they roundtwo yearsaqo i Since then,sales w1h 5 qu.rler in rhis lan lust Nowookat profts.'

_o^ p or,ls 1 'pd Pd -

salestor severalyears, but theniheynarredto deteriorate, (ow.y dt rrr r drd 'ro_3 li, the last year this drop in profits has been s gn f icani -

5%.

not dorngenoughto controcosts. thesaesfgurestaken d ore do _ oor Loobdd p.o'ir.rell(l-e edt .tol. It is a diffic!ltnrarketenvronmentandwe rnustacr|ow or tt rr thatwew ll loseour competiiveness In th€ longrermth s wil a sirlaion whercth€ futureof th€ company, andourjobs,arear risk. Seepage152for somewritjngtask5.

Presentations - review s5.1 Matchthe beginningof each phrase1-10with its correct€ndinga-j. 1 oK, et's.. t2 l{ youhave.nyquenions, i 3I'comeback.. 4 I v€ d videdmytalk. . 5 Jlst to digress for 6 LetSexamne this. 8 My own view.. i 9 OK,that'sa want.. 10 Right,etsbegn ... b gel n:rted. Caneverybody see? d rntothreeman pans. f g h i j

on to the secondpoint please fee freeto interrupt. to thisin a rnoment. w1htheli6t 5ide. to eayaboutthe frrstpo nt

Continu€as before. I I Asyoucans€e l2 beganbytelllng yoLr. l3 'd likeusto 14 J!stto summarize 15 Letmeexpain .. 16 Now do youh.ve.. 17 Rghi,ihaibrngsmeto.. l8 Thank yo! all.. 19 Thisleads me .. 20 Whats thereason..

56.2 Completethe diagrambelowso that it indudesall the twenty phrases from 56.1.Youwill seethat €ight phras€shavealreadyb€enused.Findand write the othertwelve phras€sby matchingthem with a pictureclue. Openir|g AK, bts get statTedCaneverybadysee?

4t

2\^,nru

frrR l

2

First po;nr tet s begin $/ih the fist slide

ff+,:-' m il'

O

/(D1

I V4

.AE; q I |

f

0(-

du 5e.ond point 6 )t

k a ttle about . Then explained how Afterrh.t talkedaboui

l'11came backta thtsin a moment 8 Id likeus to focusou aftentionan two thingson thischart Third point Thisleadsneto ny thid point, which

focusour attentionon two th ngs on for cominqand hope for th s?Thereason is .

fn

{WJ

'w

e At(

p the €ndof my presentation. the man po nteaq. n beforeI fin sh. to myth rd po nt, whichis . . t wth a concrete exar.ple.

Justto summaize the matnpaints

Righathat bringsme to the end ),,

ai*> * (

Now,da yau haveany questions?

wh€n you finish,look backat the whole sequenceand readthe phrases aloud.Canyou seehow th€se'signpostphrases'helpthe audienceto lollow the presentaiion? Il6

- REVIEW 56 PRESENTATIONS

56.3 Fill in the gapswith the words in the box. about

at

back an

in an

55.5 Underline the (orrect words in italics in this extrart from an internal presentation.

ln ta

This next chart shows saies for our hvo main product lines, the Micro rdge and the Neka mnge. 'Mdrk / Noltl? the scale on the vertical zaris/dile ii shows the number ofrrtits/lnili6 sold in thousmds per month. 1'd like roa.lrna / ntakeyotr attention firstly to ihe black line, which shorvs sals of the Micro .ange. You can see how last year sales trose/ ll aoe trse 6stedttlJ / stetrdil! all through the year Since ihe beginning of this year they /conti!1ucdhareconti,lEd ro nse,3altharyh i,t spiteol ar ^ / /

1 Takea look . thispclure.Whatdoesit tellyou ourcompanyT 2 l .F divdedllv l. l foJrn dinp"rr . 3 Right,etsbeqn ... thefirsts ide. 4 LetSmove .... the secondpoint. 5 Ths leadsme .. . . mythirdmainpoint. 6 l'llcome .. ih s in a moment. ( an is passiblein #6, but isn't the answerhere) 7 My own view th s s simple. ('af is possiblein t7, but isn'tthe answerhere) 8 | h rl lL€rea'erhreeqJe,ro o fo,u, 9 As youcansee th s nexrslide,... ('in'is passible in +9,but bn't theanswerhere.) 10 So, conclusion, l hopethat mytalkhasgiven youa goodov€fvi€w our company. youa I 11 Thank coming. 12 Heresmyemailaddress caseyouwantto get

On balance,iheseresultsare good 's.cddy/sipadily ''gror,/gron,i, is what we like to see.This Senerally postile picturc is "d!.lo /d!.tdfl ihe performance and reliabiliiy of the Micro lan8e, and the fa.t that ou! competiiorsh;ve bccn slow to respond.rzEr., solEo.,r r/'o!Sr, ive cannotbc complacent.We have to bujld on this successgoing foNarcl, and I want orr nrlesieams to really focusrrdi,orirl0, the Micro range L{drcr4ro,r the I'm Boing to set an ambitioustarget- 10takesales of Micro p.oducts from thcir curent levelof30,000per month rsrdl!,rii ai1{Sr//r/,rrl bd of 35,000by thc cncl of

56.4 Completethe sentences with the pairsol words in anyane/ cannents btings/ end dlqress / noment exantne/ detail explainI agaln expldin/ conctete highlight/ .|iagrcn question/apinian scape/ ahpMa te tine /questian useful / backgraund start/lntrotiucing

mysell.

2 : tmghtbe Let!

to givea tlle In6In more with a

' d l i k et o 1 Does 8 Right,that

iwo thingson this

haveany

sorry,canyou ... thal .....'.'.' '. ? 10 ThatSan nteresiing own. ... ........ ? 11 | thinkthat'soursidethe of this presentation, but I m happyto discuss it with yo! 12 OK,lth nkthere's

O K , n o w l e t ' s r T l D k n r / l o olk. ' t h c p u r p l cl i n c o n t h c chart,which shows salcsof thc Ncka rangc.As you know, we launchedthis rangc in Dcccmberof l,lst ycar,.ncl salcs ''tookoll u.r. tokrtgr,ffimmcdiaicly.For ihc lirst lcw / months thin8s "'jzucru /.tiiy looknq Sood /hitl ft,nllr laokctl We were cxpectingthis becaus€we lDrrcf.,lon,S/ rd,1 ,good. do,rta lot of market researchbeforethe launch.':rHd?r.!.f / Wl,?nns,for no obvious feason,there2n,rs/ ,ns 1,c.,a asudttat stddeily'1tdrap rs.l!.. in salesin reccntwccl
?

E

Meetings - opinions Readihc extractf.om a meeihgin a household Froducis company.nroine(A),Brigittc(B)andChrts(c) are discussing theircomplnv'smarl.iing straieg\r A: We needto do something radca to dev€lop our brands. TheretaileG arebecoming moreandmore powerful theybly frcn usfor what€ver pric€ihey want,ands€llto the publcfor what€ver pricethey B: Absoutely.Ourprofitmargnsaregettng thinnerand C: I totdllyagr€ewith youabolt the powerof th€ r€tale6. Afd it'snotjLrnther prcingpow€r lts alsother own abe prod!(ts.Whyshouldp€ope pdymoreior (emslk€ oursl branded A: Bascay,we hav€to lookat brandrng n a whoenew way h ny op nron,we l-rave to go b€yondmarket resedrch, beyondla krnqaboutqua ty,dndbeyond " . e d d \ p r r ' n o l o a d n d t I n r r 9 o . d )r . d e n e e d1 0m d k ea n e m o t r o n dc o n n € c t o n wth contumers W e n e e dc o n 5 ! m e r1! ol o v eu s ,n o l l u s tt o n e e du s B I nr not so slre about th:l We s€lldel€rg€nlsand ' ' o ' o ' " I o a " - o ^ F - o r o - c . p L e aL 9 products)We're not a .ompany ke Apple or Nikewho m a k ee x c i n l 9 , l e n y l ep r o d l c t sW h : l d o y o u t h n k . ChnsT c: t seems1lrme thal we haveto do sonrelhnq we c a n ' 1 l u scl a r y o n d sw e a r e 1 n a y b e l r u e t h r l o u r produdsaren't veryexot nq. bul we aho have10 r o d ! . r sa r ea n i m p o r t a n r c o n sd e rt h a t h o L r s e h opl d part of fam ly lIe, and fdm liesare nearthe cenlreol oLiremotons Aclua y, I do think o!r advertisng could appearmorero peopes emot ons B OK, OK You re probaby r ght But what did you h.ve i n m i n d ,A r t o n o ? A W e n € e da n e w ' f a c e ' f o ro u r b r a n d qA. c e l e b f i t y Someonewho the pub c oves To put rt s mpy, we needthe mon famols footba I player n the wond to appedron screen,Lrsingour products. B: Re.ly? Do yoLrth nk so?You th nk thai if a famous l o o t b dL e rc e a n st h e r t e e t ha n dw a s h e tsh e f o o r , u sn g our products,the pub c wil love us? | thlnk ihey w I auqh at us,and at the footba er. f: Obvouslyit wou d haveto be done careiully,and a f o o t b ae r m d yn o t b e t h e b e n c h o c e .P e r h a p s f. l m startrom romantc comedymovieswould be better But i n g € n e r aI l l k e A n t on e s i d € a . B: OK, I can s€ewhat you nrean,but don t you think thi5 is a golng to be veryexpensveT A: Thatbtrue. r wil be. Blt iron my point o{ view lr3 worth t. An emoronal connectionis the onlyway to lustily a premum price.

E

The phrasesyou need Ag : r i t i : r- i i : ' . ! , r ; r , ' ? ; . r What da yau think, Chns? Chris,what'syau apinrcn? Whatdid yau havein mind? Cr: iri tr.. ir.ri;.itrn What l'n tryinqto sayts . / The palnt is tnmy opinian /rhewaylseeit.. gasi.ally tEssentially A.tually I As a matter af fa.t .. Abviously .. / Clearly ln generat / Arctall Io put it sinplf . / ln short ':irrir.ij .1 rii.iirioi. im.r. !.r:r5li,:,1 /r 5eemsto me thal fran rny paint of iew ..- -..,r):.1 t totallyag.ee '|ith yau / Absalutely It s nat tusl , it s also Yau te prcbably right r , : i : e i r i . ' , r . : 1 - 1 :ri ,. ii ag.ee up ta a potnt. bul OK, t .an seewhat you mean,but don't yau |hink a tt may be true thdt . but we ako haveta cansid€l a : .:a.' -.:.- j: :::: Realy?Da you think ta? t m not sa suteabaut that t m sony,that nat how I tee t I rcaly .an t agree 6/ith you there \dhce thc difiercnt wit,s to gne an opnrion nr thc box .bore. NlaDvoI ih.se phrnsesappear in ihc cxtract. \ohce thc.lifferent wavs to agre. an.t disagrccabovc. \fan! of thes. phr.sesnilpear iD thc cxtract.

57 I|EETTNGS- OPtNtOt{s

Exercises 57.1 Underlinethe correctwods in italics. 1 Chris,whatl/row isyouropinion? 2 What did you havein mind/ in Wur nind? 3 lt seemrme / seemsto me that we haveto do something we can'tjuslcarryon aswe are. 4 Frcn,ny view/ ny point of y/erf, its worth it. 5 | am agree/ t agreewith yau. 6 YouJeright / Youhavereason. 7 | agrceto a point/ up ta a point,buL.. 8 | canseewhatyou meanI you?eneaning,btltdon'tl/ou thinkthisis goingto beveryexpensiveT 9 lt may/ canbe true that our productsaren'tveryexciting, but we alsohaveto consider ... 10 l'm not sosureyy,fh/aboutthat, 57.2 Look at the extracts from meetings below. Wrlte a phrasefrom the box nert to a ph6se in italica with t|te samemeanlng,8e carcfrrll y 8y theway Howevet ln g$e,al Actually Easica ln nyopinton Luckily Obvioudy lhe pointis ln shon

serousssues thatwestillh aven'tdiscussed. , the projectis threeweeksbehindschedule, not two. 3 , we haveenoughtime, Clearly/ they'rc oot asch€apas , othersupplers, but theifqualityandrcliability is much 0elter.

, it3 a verypositiveproposal, but therearesomeimportant detailsthatstillneed clarifynq. WhatI'n Wng to sayis/ , Juneis a nuch bettertimeto launchth s oroductthanAor Essentially / , its a goodideaaslong ,s t3 not too expensive, WhilewE'reon the subject/ didyou geta chanceto readthatrcportlsentyou? Thewayt seeit / , the wholethingis a complete wasteof time. Toput it sinply / , profitsarefalling

overall/ 6 7 g 9 t0

57.3 Write one oI thes€ next to each sentencebelow: Polite disagrcentent,Stong ditagreement, Not Wnaticaly possihle. 'l lreallycan'tagrcewith you. 2 l can'treallyagree with you. 3 l can'tagrc€reallywith you. 57.4 Put the phrasesbelow into order:1 is the most polite disagreementand 4 isthe strongeitdisagreement. n l'm sorrythats not how lsee it. Doyouthinkso? I Really? l'm not sosureaboutthat. n I really can't agreewith youtherc. n 57-5 'l think we need to make an emotional aonnectioh w'tt .otsumerr.'Study the diffurenl replies a-{ and then do the €xerdse below. --) a Yes,justlikeAppleor Nike. J b Yes,youle right. J c Ye5,theyshouldloveour prcduds,notjlst needthem. products do + d Maybe,but how cana household cornpany that? -f e lsn'tthet ideetoo abstract? Wouldnlit be betterto focuson something mo€ practical? + f Doyouthinkso? + 9 l'm sorryl don'tagrcewlth you. ilow matcheachreplywlth a te
s Yes, but...i1

6 Askingan openquestion lo showdoubtn (whereyourown answeris qiJestior 7 Askinga negative clearly'yes) n 57.5 Q 9 Speakingpracti.e: listen and repeat. Repeat eachphraseyou hearand then listento check.

d_d coslsare 'iqingand we haveto do somerhing- {an.

Meetings 11

Meetings - making things clear Readthc cxiract fronr a meethgbetween threescnior manageF from differcnt departhentsin an h\.cstmenr bank. Agusih (A) h.s somc bad news to announceio his colle!gles Briar (B)dnd Cecilia(c). Brian and Ceciliacamot bclievewhat th.y're hearnrgl

Well,qoodmornlng,everyone. B Goodmornng. c : Goodmornlng. Youre probaby wonderng why I calledthis!rgent meetrng at sLrch 5hoftnotc€.I havesomebadnewsfor you We havea roguetrader. B Sorry, I n ssedih.t Couldyou,ay it aqainT I sad we hav€a roguetr.der Lik€N ck Leeson at Barir,95 aid Jerome Ketu€lat Soc€te G€n€raie We havesorneone who hasbeentradingbeyondh s aLrthority C : C a nl g e t t h i sc e a f ?Y o u ' r es a y i n gt h . l t h e r el r a sb e e n A Yes,it appearsso. On a ndssve rralp lwo billon elros C Sorry,how rnuchdid you sayT A I ead two b on eurog B Ho$?d d yolr arrve al the igure of 1wo b hon? a r t sl r , s r : q u e s s 8 : W h a l e x a c t yd o y o u m e a nb y ' g u e s s ' D ? o ni y o u A : T h ep e u o nI n v o v e dw a st r a dn g c o m p e xi n a n c r a nslrumenlsDerivdt,veslt s veryd lf icuI io enrmatethe C Correctme f 'm wrong. bul yo! seemto be s.yrfg that yoLrhaveno c ue whal this personw.s ir.drng and no c ue how much moneyhe has on A : P l e d s e . l o wm e t o e x p a , f . c a n n o tk n o we v e r yd e t a , l ol eve.ytranlacton oTeverytrader I havespokento t h e n d v d u a l sl n € m a n a g etrh A m o r n L n ga,n d r h e f qlre o{ two bi on ooks ke a reasonabe gless. B Yo! mentionedthat the personwas trad ng comptex derivdilvesCou d you be a litt e morc specifc? A: At ihis nage, no B: 5o, n oth€rwords,yotr don r Lrnde6tand rhe rrades.And prcbabythe line manag€rdoesn'tundeEtandether A: PerhapsI havent expldned myselfceary Whdi meafi was thai wele nvenigdringrhe matter Thereare certainaspectsof the t.adesthat seemto haveescaped oLrrInlerfal controls C r C o u l d l u s ts a ys o m e t h i n gt?d o n ' r b e l e v ew h a t t , m hearinglDoesanyoneln this pace know what they're do ng? A: Cai just f nish my point?Whar I was tryingto saywas that this is a very seriousmatterand I cannororame rndividuals or 90 into detaik unt lwe haveproof. Br ljust hopethat the mediahaven'rfound out about this '

120

A: Thereare threejourn, istswait ng in my office

Nohcc the differentways to make things clear Ai tinc 7 Bnan asksfor.epefihon. At Line12 Ceciliausesh.r own words to check(paraphrasing).At Iine l5 Ceciliaclarifies an indi\ idual point.

fhe phrases you need t8 Ask icr reDetition Sorry t ntissedthat Couldyou sayit agan? Sony, 1don't undetstand, .an you expiain that again? Can you run thrcugh / ga aver that again, please) Use your ov/n wordt to che(k 5a. rn ottier v/otds. It I understandyao caftectly,... ts that tiqht? Can I get this .leat? Yau rc saying that . Catrect me if l'n wong. but yau seem to he saying C l a r i { _ vi n d i v i c l L r a l D o ' n t s 'orty. how mu.h .Jid yau say? Sary. the praje.t wi statt when? What exactly da you nean by ? Haw dtd you aniveat the frgue of ..? Yau mentoned Caul.l you be a littie nare spe.ifi.7 Corre.t a misunderstanding Im sarry,thats notwhat I neanl No, sat.y. there 5 been a slight nisunderstanding. Perhapt I havenl explatnednyself clearly. Pleaseallow ne ta e\plain Let me prt tt anatherway, WhatI meant vfis What I was tryinq ta say was Get your turn to speak

Cautdtjust saysonethinq) CanI lust flnkh ny patnt)

5A MEEIINGS- MAKING THINGsCLEAR

Exercises 54.1 Readthe dialogueoppositealoud severaltimet then cov€r it with a piece of paper. Now try to remembersomeofthe missingwods below. Write your answerslightly at the side. 1 Sorry l. that.cou d you . . . . . . . . . . . . .-. . . . . . . . i a g an ?

2 Canlget this thatthe.ehasbeenfraud? 3 Sorry.... How d d you

ddyou by

'gir€ss'?

7 8

9 10

.. ......... m ei l I m but yo! seemto be sayng thatyouhaveno cluewhatthis personwasvaorng. Please . ......... meto I ca_norI noweverydetd.o'everytrdnsa.tion. Youmentioned thatthe personwastradingcomplex deriv.tives. Couldyoube a morc ? Perhaps I haven't mysel{ . whatI m€antwas... C . nl l u s t my WhatI wastryingto saywas...

After you have remembered whatever you can, use the pairs of words in the box below to @mplete the

allow/expiain anive/ltgue clear/ sayirg cone{t lw.ong exactly/ nean explained/clealy flhishI point

I

hownuchlta! lryl:E!,,

^':::!lt:y

58.2 Fill in the missingletters. I Sorryldon'tLrnd d. Canyoue agaif? qulckly) 2 Canyouftrn .. . ..- gh that again?(= explain 3 Canyouqo .. r thatagain?(= rcpeatit in orderthatI canunderstand it) 4 No,sorrytheresbeena sl t m sund 5 Letme il another y. 6 Canl. here?(= enterthe discusson / intenupt)

58.3 A team l€aderis speakingin a @nferencecall,but a
which wha how aften

Teamleader: Thismeetingtodayisjusta quickbriefng sothat everyone understands theirzxhkqfbeforethe prclectstarts. Bob:Sorryundebtands their' Teamleader: Theirroles.Ye5,aslwa! $yinq, il'sjusta quick briefng it'll on y lastaroundkfxhzqminutes Bob:sorryz . ....... . . ....... ... d d yousay? Teamleader: Arolndthirtyminules. OK,soihe prcjectwill ttaft.t the beginning of qxkfzh. 8ob:Sorrythe projectwill start3 Tpamleade' At tl'e begrn.rngo'Ma (h Ald o_cF rs runn ng, we'll haveto meet regularly,xhkzqia month.

Bob:Sorrya ........ ......... d d yousayT Teamleader: Oncea month.OK,f2xhqkwill be n overa chargeof the bldget. Bob:Sorryt .. w ll be in chargeof the budget? please Teamleader:M;fiha. f yo! haveanytravelexpenses, fil in tom qzfxkhandgiveit to her 5 Bob:sorry form? Teamleader:FormTE30.lf youth nk youw ll spendmorethan fzxhqk,youshouldget myauthorzatonf rst. Bob:Sorry7 ddyousay? Teamleader: 400euros.Copiesol theformcanbe folnd on hxikzq Bob:Sorrywe (an findthem3 ? Teamleader: Onthe company intranet.

58.s S 10 Speakingpractice:listenand repeat.R€peat eachDhrasevou h€arand then listento check.

Meetings 12

@

- probtem-solving rvreetings

Readtheertracifroma meetingjn a minhg compan\l A t r e F / A ) . B e r ' 8 ) " r J C a u d . , C , c ru. -d-.uB d \ - u . of so.ialresponsibiltl A: Ourgeologca studi€s haveshownthattheresa lot ol goldin thisarea,but the lora populatonis aganst us th€ylay our minng op€rations w I denrcythe enMronmenl. Thereareseveralways we co!ld dealwith this.I d liketo openup the d scLrssron andhearyour B: I th nk we shouldofiertomemoneyto the loca mayor. underthet.ble t3 workedbefore A: 'm sorry,I dont th nk thatsa goodidea Whatwo! d b€th€ consequences? Thismayors€eme honestand hecouid!o slraighl1oth€ newspap€E. 1twouldbe a d saster B Yes, suppose you'rerght. A C aude?AnysLrggestofs? C Wel. il1.J i

"r

d e d .b . l ^ l d

d b o L _o D r " g r o . r p

s o m eo f o u r p r o f t st o s u p p o ret n v i r o n m e n t a l c h .ersi l? We cou d give moneyto organzat ofs that protectthe ra nloresr,that sort of thing A : T h a ts o u n d sk e a g o o d d e a ,b u l d o n l t h i n k t w o L r l d w o r k i n p r a c t c eL. € t s o o k a t t h e p r o sa n dc o n s O n t h e o n e h a n d ,t w o r r l dm p r o v eo ! r p u b l i ci m a g e t, h . t s lrLre.But on the other hand.peoplewou d see 1 .s a verycyncal genlre And t doesnolh ng lor the lor:a p o p ! a to n I n i h a t . r e a B C a nl m a k e a s u g g e n o n ?n n e a do l b e n g d e l e nr v e , !L. do1

$e90o

h"i_"..

^

hdogoP.dapd,g

A : W h a td o y o ! m e a n ? B: We ook at the benefitsrhar our operationrw I bring We'll br nq lobs to the lo.a community,and our emp oyeeswrl pay taxesto the governmentWe're on thesde ot proqress A Let'sthink careJLrlly about ihe mp icationsof thal We wou d havelo spenda huge amoLrnloJ moneyon pressand ry advertjsements, and we're only a small c o m p a n yW h a td o y o ! i h i n kC l a u d e l . r q e l e d i l . o J d s l , t e d g o o o r a Faa- h o J o - a g r e e t h a t t h e c o e tm a yb e t o o h i g h .l t h i n k t h e b e ( w a y tolward s io get a moredetailedest mste of how much a o l d h e r i n F , d r p o d - c € d 1 d r La r w F I . b F i n a better posiUonto d€cde aboui ihe PRcampagn. A OK, let3 do thar. After all, we havea fumber of -or ooriols e{drolc, we (o,rld in . io, dt pR.ampaqn i r s t e d do J d r o n r o n e . J \ t F 1 p h . ! i - i r g - h e r o b s " B: OK The nextthing to do is carryout a morc detailed georogrcar suwey.r aqree Notice the processof explorjngoptions,maklng suggesiions,reacting,and acceptingor rejectingthe

ltl

The phrases you need V€ P r e s e , T ta i ; l i o n s we havea nunber c)toptians. ftEre are severcl ways we could deal with this Eaianre an arqurneilt LeI'sloak at the prcsand rcns. An the one hand, But an the ather hand, tn generat . ahhaush On the whole , but ivlake .l su.Jgesiiorr t thtnk w"" shauld / couid CanI nake a tug.testion?lnsteadaf .. , why dan't we .. ? It\ lust an tdea,but vlhat abaut (+ ing)? What wauld be the consequences) Let\ thtnk.arefuly abou! the impli.atiansaf that A(.ept

a su!!qestion

Yes.I thnk that would vr'a.krcallywell Reje.t . s qlqestion I can see ane at t'Na prcblems with thal Thatsaundslikea goad tdea,but I don't thinkit wauld I m sa(y, t dan t thnk that3 r qood /dea I think the ben way fatwatd is What we ve gat to da now a fhe next thtng ta.lo B

5 9 M E E T I N G S- P R O B L E M - S O L V I N G

Exercises 59.1 Coverthe oppositepagewith a piec€of paper. Now try to rememberthe words below (Someletters 1 2 I 4

Thereare sev \rayswe couldd 'd lke to o 1 r t h e d i q c u q s oann d h e a ry o u fv Yes, su seyou re r t Th.t s s k e a g o o d d e a ,b u t d o n t t h r n kt w o u d w p r (= advantaqes 5 Let'sook at the p and co and dis.dvdntdges) 6 th€ e d , t w o u d m p r o v eo l r p l b l c m a g e . thats trLre But the I d. peope wou d r:yn,:a lery gesrure see I ds d 7 Can on? d o l b en q t we go of lhe allack with . brg PR

59.4 Completethe table by writing thesenounsnext to the verbsthey go with: a suggestion,a de.ision, a prcblen, a solution-Checkany unknownwords in a didionary an.l!ze,approach, avoid,befa.ed wlh, cause, consider, expore, fnd a w.y round,q€tround,identt. l o o l ' l o .o v o . o r o p " . " wth), €tolve, run into Gomebody

qn n the m€da? canrpa 8 Letsth nk c.refuy dbourthe mpl (= possrb e futLrre rcsulttol th.t 9

n g il soLrfds,ke a qood rd€a.a 9h a q € e t h . t t h e c o n m a yb e 1 o oh q h 10 thinkthebt wy f d5toqetamor€ d e t al e de 5 1 m a l € s9.2 Make phrasesby matchiog an item lrom each I 2 I 4 5 6 8 9 l0 ll 12

OK, lefs ... '\\ what Thals a rornp ale'. Why '. Y€s,that wo! d Sha

wane of trme work re.lly well aboLrl )

C a nI I can see Imnotreay T h a tr n r q hbl e l d o nt t h n t t

worth try n9

donr we do thal

a g r e e{ o n ) . : r r v ea t ,c o m e! p w t h , lgure o!t. f nd, ook tor,ofier, produce,propose, put ioMard, reach.work towards

'

€ccepl,acl on, agreewlh, come ! p ! M i h ,c o f s d e rm a k el,o l l o w! p . 9o alongw(h, lendweiglrlto, put torw.rd,r€le.t,respondto, rule o!1, lake up, we aorn€

l

a ler,.iiNe at, be ia.ed w rh, .ome ro. .onf rm. 9o backon, hestar-a over,gnore, mplement,lunfy,lie behnd, make,postpone,reach, recon'oer'.eve6e'laKe

4

5 r . 5 r i l l e a c hg a p w i t h a v e r b f r o m t h e p r e v r o u se x e f c i s e in the (orred form.

I

w o ud w o r kI n p r a c i r e one or iwo probem! !î(h ihal

59.1 Wfite the phra5enumbersfrom the pr€vious €xercisein the (orrect(ategorybelow. d Makea sugqenion lr Accepta slqgenon c ReJect a suggenion

3 stlat on $/hereyou h.,,'eto d€a wrth t mrke an eilort ro de.lwtll I lnetaphat t'rcn t'oatball) lf yo! a b o u ta p r o be m u n l i ly o u | . d t h e . n s w e ro r L r n d e r 5 t . n d wh.t hrs happened (= watk out ) 4 f yo! a s o l l t o n , y o L dr o lhrngt that he p yo! to make progress 5 f yo! a s ! g q e s r o ny, o ! I

6 i somethinq ' o r o . d - p . d " r c eo . d l p . 6

a suq9e5rLof, 99pror.4p. Le.

..ion io pui n ntopracrce 8 f somethng s the trLrereasonlor the decision 59.6 @ i Speaking practicerlisten and repeat. Repeat earh phrase you hear and then listen to check

Meetirgs tll

Meetings - leading a meeting Thc personwho le.ds the mccihg ls often called 'rhe chaiJ',but other comhon termsde 'moderator', 'facilitaior' and 'presidnrg offic.r'. Belos'rou ryill flnd sometvpical exh'actsspokenb\.this p€rson

Opening the m€etin9

Closingthe meeting

Rrght,i5 everybodyhere?Good, think we can std.t A F l l o o o d n o , 1 9 " v p r o rp . a r d h . 1 1 , l o r L o a r ' 9 L j n f o r t u n . l eA l yn n e k es a n d s e n d sh e r . p o o q € s Justa coupleot hous€ke€p nq lh ngs beforewe beg n &D 'a.p. \ho b ""r dro.rd r"r lL I r. dro . r to { nishthe meetifg on I me. at twelveo'clock Trre b a t h r o o ms d o w n t h e h a o n t h e € l l O K D o y o ! . h a v €a . o p y o f l h e a g € n d d c?o o d C . n someone l a k et h e m n u r e s ?I h a n ky o u .V k r a m lun beioie we beg n, 'd ,ke io nlrodLrce Agnieszka from our Warsawo{l ce Wolld you I k€ to e:y a few w o r d 5a b o l l y o l r s ei A g n e r z k a ? O K .t h a n k s Rght Our oble.l ve today ! to plan the launchol the n e w r a . g eo i a r q es c r e e lne e v s o n sa c r o sas o ! r E ! r o p e a n markel! lve preparedsomebackqroundInformationthat I hopew,ll be lselul, and l' distrbLrtel roundthe tabe now You can seefrom the agendathat we havea lot to qet t h r o u g hs, o w o L r l da s kt h a t y o u k e e pa l l c o n t i b u t o n s b r e l a n dt o t h e p o i n t OK, ets mov€(raight to the lrsi item. Henk,woLrld

OK, everyone,lth nk w€ (an nop there

t3 nea.y tweve

l'd like lo sum up Ther€are three r.a n concu5on5 lrom the meetng. F rrt, 5€condy. And finally n t€rmsoi .ctron po nts, we v€ decidedto lenn fer you re go ng 1o dea w th rhal - and we've i so .greed that Mrquelshouldpr€par€a reporton Are thereany other po nts that anyonewants to make? Havei nr s5eddnythng? We , thanksfo. you. input, everyoneWe'vehad lots oI good deasand think t was a v€ry lsefLrlmeetng. 'll crrculdlethe nr|n!tesas soonas I get them from V kram W h a la b o ! t a n o t h em r e e t i n gC ? a nw e l x a d a t en o w ? R i g h tw , € c o s el h e r . e e tn g h e r e E n l o yy o u rl l n c h C at . o n a . c a nl l u s t h a v ea q l Jc k w o r dw t h y o u b e f o r e

Managing the meeting B.hveen the op.n and tho.los. thereis thc wholc micldle so.tnrr oi ihe nrttting whorc thc chnir dnndgesrnd controls tho rliscussn)n.'fh.tablcb.Low conta,nsphraseshr this. U n i i 5 3 ( N l , t k i n gt h i n g sc l c a , i s a h o v e r y . e l e v . , nht e L e .

Ihe phrases you need !9 Ask {ol. reactions Whatsyout vtewan this, Nadin-b? How da you feel abaut this,Kiaus? Antanta, thisB yout field.ln a few wotds. canyou tell ut what you think) l,tike, aftet we ve heard fran Rasa(an we have yout iews? | know yau havesane erperien.eaf thisprablen Deal with interruptions Caul.lyou just hang an a nomenrpleare? Ane at a t)ne, please Fist Miella, then Ciaude Pavol,couldyau just let Nikolainish? t @ne backta yau in d nonent Keep moving Perhapswe couldget back ro the nain paint? I m not surethat\ televant Lets leavethat asidefat the moment. Can we cane ba.k to thk later? I think we should nove an naw

r21

Focuethe d;scussion 1thitk we needto loak at thlsin nare detdl Weneedta analyzethtsin a little moredepth WiC€n the discu13ion ls ttrercanghingelseweshauldcantdea what ather waysarc thete ta appraachthis? Check agreement Canwe go raund the tableta seetf evetyane Da weal agrceon that?Gaad,that'ssettled S mmarize 5a, basically, whatyau rc saylngis .. AK, bt\ go overwhat we ve discussed sa fat

60 MEETINGS- LEADINGA MEETING

Exercises 60.1 Coverthe opposite page with a piece of papei complete the sentencesfrom the opening oI a meeting with the Dairsof words in the box. agenda/ getthtough backgrwnd / usetul bathroon I hdl btief /point cowl agenda housekeepingI begin ill/ apologies kick I off tight I s6rt sayI words straight I iten take/ ninutes

iseverybody here?Good,I thinkwe Annekeis 2 Unfortunately

60.4 Make phrasesto close a meeting by matching an item frcm each column. mainconclusions. I I lhinkw€----\ th€ minutes. 2 l'd liketo sum \ --can stopthere, 3 Therearethree 5 6 7 8 9 l0

Arethere HaveI | thrnkrt wasa l'llcirculate Canwe can ljust have

missed anything? a quickwordwith you? of aclionpoints... anyotherpoints? up. veryusefLrl meeting.

hef-

3 Justa coupleof 4 The on the left. 5 Doyoual havea 6 Cansomeone

thingsbetorewe is down the of the the

7 Wouldyouliketo 8 9 10 11

aboutyou6elfAgnieszka? preparcd infomationthat I l've some hopewill be Youcanseefromthe lot to lwould askthatvoukeeoallcontributions andto the OK,let'smove to the fi6t

60.5 C.overthe opposite page with a piece of paper Put the words into order. Wdte the answ€rs under the correct heading below. Ithink in moe detaillookat thiswe needto. lett for the momentleaveasidethat, Couldyoua momenthangon jun please? 15anything therewe shouldconsider else? Oneat time,a please, can we if everyone agrees 9o roundto seethe tableT otherih s? Whatwaysarethereto approach Letsso far what we'vediscussed 9o ovet can !!€ laterto thiscomeback? we needto deDththisin a littlemoreanalvze,

Dealwiih interruptions l

K€€p moving 12 Henk,wolld youliketo ? 60.2 find a wod or phrasefrcm the previousexertise that matchesthe deflnltlons b€low. at a meeting 1 a list of the subjectsto be discussed makeat a that Deople 2 a writtenrecodof the decisions forrnalrneeting 3 (p/rrasa/verb)do; f nishdealingwith 4 oneof seveElthingson a list s (phrasalveh) begin 60.3 Write ArEGritish English)or Amf (Ametkan English)on the right line1 bathrcom/ restroom/ washroom2 loa (infomal)/ loilers/ gents/ ladies/ wc

Foaus$e dirausslon S I lhlnk we need lo look at hE n fiore deta'l

widenthe discussion 1

cheakagr€ement 9 Summarize 10 50.6 Q 12 speakingpracticelistenand repeat.Repeat eachphiaseyou hearand then listento check.

Meetings l2l

@

rvr..tings- negotiatingI

$hat do )ou think of *fien you hear the s'(fd 'negotiating'? You p.obably think of thjs process:ta'o sideseachhale a - r r , I n j p o ' i r o n . l h H l l h " \ n r d l , r - p r i p .o l . o n c p . .^. n . (= things they give ln order to reachm agreement)until thev find a cohpronise (= an iitreement a'her. boih sidesaccept ihat they cannothave everything). But ihis processis more nccftately callcd 'bargainjrg , and ii'sjrst one of thc phasesof r negotiation.Thc phasesare: I Relationshipbuildjng: getting to knor! the other person, F \ , 1 - a n r , - !i n r o r n. r r i . , ni - . , , l t h c n \ o ! o r n p . n r i p . . discussnlgth. market,and genclally tiuiLdingirlst. Stainigneeds, .xploring initial positionsand asking questuns. In a conmerci.rlnegotjatnrn,thc supplicr . \ f l . . i n . h c p , u d u .I i . o H p , h 'l'us- u\ rtbnr!. "-d valu€ to the custoncrh business. ' Barganring n.rt just on price,bui on a .ingc of linkcd issuessuchns quantitv,mnlinlunr ordc., discounts, deiivcrv innc, sc!!ice planlsand Narr.nljcs (Suaraniccs), i e f l n so t p i v n r c n t ,€ x c l u s i \ i i yi r . p . n i c u l a rm a r k e i , the length ot thc conn?ci,nansport costs,nrrangcnrcnts f d s h a r i n gi d l c n i s i f g c o s t sp, e n n l t i c isf . i a u s . s i n i h c conthct i'1, nol rcsP!.ct.d Itcid thc dialog!f bck)w,lLhich is in .rt.act frdm ph.so 2 of i typical snlcsnogoti.riion.l:(r ph.rs.s3 and .1,s.c !nii 62.

126

\otice in this earlv pari of the negotiationhow ihere ar. a loi of qlestions, and how the speake.smovc fr..ly lrom one toptc to another

The phrases you need Vg qtate your needs Far us, the pnonties are Aur nain con.e.n is ... We think the best aptian wauld b,. We'd ptefer ta seeI have.. We need Can you t1o that? Erplore positions What exa.tlydo yau need? What da you havein mind? How wauld yau feel abaut . ? How flexible.anyou be an .. 7 when you say , what doyau nean) Canyau be norc specifi.? Letme Just.heck I understandyau cat.ectly Ask s'recifi. queqtion5 What satl of quantityaL.yau thinkingof? What kind of nmescalearc we loaking at7 What satt of figu.earc we talkingabout? What kinclof guaranteecanyou give us? Weve beenquated a ptice af Canyau nat h that?

SupplierOK, ets get down io businessWhat exacllydo

SLrggest alternatiu:5

CustomeF r :o ru s ,t h e p r i o r t i e s . r eq u a l i t ya n d r e a b l i l y 5 u p p l i e rW : h e ny o u s a y ' r e l i a b i l i tw r ean? y 'h, . i d o y o L m CLrstomerI meandeliveryOn t me, everytir.e Can yo! do that? Supp eri Yes,we can OLr cunomersarc well-knownf rms who trust !s afd come backto !s Cunomer:OK. SupplierWhat sort of quantityare yoLrrhinkingof? C u n o m e rA : r o u n d1 , 0 0 0p i e c e isn r i a y . B ! t i h a t m . y -ianoe Ho/ fF,rb'" ca- \o 06o qJo r,r/ S u p pi e r :Y o ur a n c h a n q et h e q ! a n r i t yu p t o f v e w o r kn g daysbeloreth€ agreeddelive.ydate,dnd we needa m i nm L r mo r d e ro f 5 0 0 p e c e s B l r q u a n t r y i s n o r a p r o b e m O u r m a n . o n c e r ni s t h a ty o u d o n ' rc h a n g e the basc specfic.tioneof your order Cunomer:Right,I undeEtand.And in termsof delivery what kind of timescaleare we look ng at? SupplierTwo weeksfrom your f rm ord-6r Cunomer:OK Anotherqlestion We'vebeenquoted d prce oi €950 per p ecefor. very s milarprodu.r.Can yo! matchthat? Supp €r: We offer qudlityai a reasonable price,not at ihe cheapenprce We donltry to cornpeteon price. t3 aboLrta relationshp belweenqualiiyand price. Customer:Of course I seethat. But wh.t kind of guarante€can yo! give !s in relition to yoLrrquality?

Can1sugqestanatherway af navinq forward? Thercdrc a coupleal altenativeswe d liketo pul Perhapsyou woulrl like to tty the praduct an a tnal

I 6,I MEETING5- NEGOTIATING

Exercises 61.1 Readthe dialogueopposite aloudseveraltimes, then .over it with a pi€ceof paper.Now !ry to remember someof the missingwords below.Write your answ€rt lightly at rhe side. 1 OK, ets get downto 2 what do youneed? 3 For!s, the arcqlalityandrc ab ity. 4 when yousay'reab ty', whatdo you 1 5 our clstomersarew€l knowni ms who usanocomeoacK10us. 6 cdn you be on qrantly? 7 You can chdngethe quantity!p to fve work ng days

orderof 500pieces. (feelifgoi worry)s that 9 Ourrnain youdonl change of youroder thebascspecrfcatons whatk nd of l0 n termsof d€llv€ry, we lookng at? ( - l o d ) a P r c eo t € 9 5 0

perpie.efor a verys m ar l2 Canyou thatisequa)? ir

\^/p .ffo

that (= provid€something

51.3 Compl€tethe four mini-dialogues with th€ words and ohrasesin the box. a liftle law haveln nind pre-paynent prcduction schedule quite hlgh rc7ulat custanes so lonll somethingarauntl standatdfat this market su(h la.ge dbcounts tems af payment wete you expecttng

Price Supprer:Thepriceperitemis €140. r se€ms cuslomer:That whal sortof pri(e7 Supplier: €120 SlpplerI th nk you f nd ourprces.r€ Discount over€5,000and suppief:W€ glv€a discolntoi 3% on orders s% on ord€rs over€10,000 Customer lsnl that5 SupplierWhatk nd of dEcountwereyou ookng for? Cunom€r:5% on our orderof €6.000. S!pplerWeLl, we don'tnorm:y gve

^ ': rv :i ,

14 Butwhatk nd of relaton to yo!r quaLiiy? After you have remembered whatever you can, use the words in the box below to complete th€ sentences. exible bu'net cancen dehvety etactty guarantep nat.h nean ntntmDn pnannes guoted rcasanable tines.ale tust 61.2 Fill in the missing letters in the phrase! below' quo'rr!, rrl,nq ., "",o.l what L ol : . dr., o , a w F G r- q l times l are we ook nq

t merssx weeks. Supprer:o!r delvery I d dn t expectrrobe customer: SupplierWhatexactydrdyo'r s 1 in fourweeksCanyo! do that? Clstomer:W€ needdeLivery t me- our S!pp er:Thatdoesn'igiveusvery.nLrch i5 verybLrsyat the

a r e5 0 % i n Supplier:Ourro .dvan(e,and50%30 daysafierde very. cunomer: coudn'tyoubea itemorefexble? Supplier whatdo yo! mean? clnomer: We'dprefer,say,onelh rd oneth rd alter30 days, and the finalth rd after 60 days. Slpp €r: l'm sorry bul we on y offer conditonslke that to

61.4 $ rl Speakingpractice:list€nand repeat.Repeat eachphraseyou hearand'thenlist€nto check.

Meetlngs

l2i

@

t..r,rrgs - negotiatingrl

The dialogu€on page i26 in un 6l showedsomephras.s ior the earlv part of a ncgoriafion:sratingneeds,exploring posiiionsand asking qucsiions.The dialogle below.omes from a taterpari of the samenegoriation.ttsho$,s ph.ases nr bargainingand closnrgihe deat. Bartaining is a processof making offers ('proposats'are tuoreformal 6nd more ftral rhan offers),$fth rhe othe. slcleacceptnlgthem, refushg rhem,or comhgback $,iih a counteroffeL lnexpericncednegotiarorstend b $,ork through issues(eg price, i.rms, deljlcry)one by one,\Lhile horc expeirenccdnegoriaiorslink issucs,$,iih alt the picccs of thc przzle only fitting toSetherritht afthe end. This allows much grcai.r fleribjlity. Expericncednegoiiatorsalso tcnd n) tr.kc f.cquent use ofs!nnarizing. Sunmariznrg can be !scd kr chcck unLjersi.ndiig, tivc yorrsclf time n) think, kccp a positi\e ntmo+trcre bv rcvicicing P.ogress,breik a d.adlock,.n.j cLoscilre negorinliof. Now.c.d th( dinlogle. Supp er: Yes,our minimumorderis 500 preces. Cunom€r:Ihat\ a blg riskfor us - we,d preleran in ti. o.der o{, say,300 piecesWe can ook ai fu(her orde6 S l p p € r : T h a t sn o t r e a l l ya v a b e o p t i o n{ o r u s . r e n o r cost-effective lof us to do a producton run of just 300

:

:l

I'i

r,

12lJ

CListomer: / see.And earlieryou rard thal you need50% pr€,paymentfor f ret l me customers S ! p p e r : T h a t sr i g h i Clstomer: 50% s a lot of moneyto p.y LrpfrontI m sorry w e c a n ' ia c c e ptth a t SLrppier: We d be preparedro offer beter rermso{ paymenl,b!t on y if yoLrn.redsedyoLrrorder c r n o m e r :w h e n y o u s a y ' b e t e rt e r m i , w h a t d o y o u h a v e Supplier:We , f yo! order 500 p eces,we,ti accepr250lo paymentIn advance,wnh the baiance60 daysafter delvery Thatshoud he p wrth your cashftow. Customer:OK, we .ou/d ...epr ihdr, bur on y or one 5!pplier:Yes? Cunomer Thdtyou can makerhe smdltcunomiz.tion that we ta ked dboLrtearlierar no ext.acon. Suppler:l'm not sureabourthat dont havethe auihonty to makethat decsionby mysef. Customer:We l, if you can agreeto thar, we can cose rne Suppler:OK. Can yoLrgive me a momentto makea ca ? Cunomer:Sure. 5upplier:... Yes,we c.n makethat customizarion. No problem.NoW let3 j|rst take a momentto revlewwn.r we v€ d sclssed.So, . . .

At iine 5 ihe Supplierrctusesan offer aboufthe iniiial ord€a and giles a reason.At line 8 th€ Cusromerresponds with a sihple'l see'and moves ro anoilrcrissre. Neittier sjdc feelsit is necessaryto fhalize th. in ial order issle Ai line 11ihc Custome.refusesan offcr abourrhe % p.e'payment.At line 13 thc Supplierrespondsby ]inkiig a concessionon this issueto a concessionby rhe Clstonef The bargainin8and linkhg ofissucs continres at lhcs i7 2+ Ihc piecesof ihe plzzle only flnally fft iogetherar Inle 31. T L i . f p , h 1 l o - " , n e n c t o r i . . t i , , tn, ) "umm..r./irr

fhe ptrrases you need Il€ Bargain tt yau (da that).we'll /we can (do thts). AK, we'd be prepared to (da that). but anty if you We could accept that, but anty an one conditian Wauldyou be wi ing ta accepta.anprom6e? Accept an off€r OK, we can agrce ta that Thatsoundsrcasanable t think that thould be posslble Refuse an off€r t m not sureabaut that That'snat really a viabte aptian for us. That 6/outd be very difhcult fat us because .. t m softy, we .an t ac.ept that Summarize Lets lust takea moment to revlewwhat we ve Can we iust qo thraugh / qa avet what we ve agreed So, .. Play for time Id like sone time to thlnkabout it I thtnkthat'sas far as we can qo at thisstage ldonl havethe authorlryb nake that deastonby Close the cleal lf yau can .. , we can closethe deattaday. h teactyto sign today if you can . . ]f we agree to . . , are yaL happy wtth the other paints? fhats tt, then. tthink we havea deat. Sa, if yau d just like to sign herc

62 MEETINGS- iIEGOTIATINGII

Exercises 52.1 Coverthe oppositepagewith a pieceof paper.Fill in the missingletters. 1 Olf mi. . .um o r is 500pieces. 2 Thatsnot realy a va.. .. optionfor us.lt! not c t-eff e for usto do. prodldionL oijun 300peces. 3 Earleryous. d th.t yo! need50% p -pa t lor t. t tr customers. 4 50% is a lot of moneyto payup t. we' 5 f youorder500pieces, accept25% paymentin ad 60 days.fterd , wlth the bal ry Thatsho!d hep with yourc ll 6 | don'l havethe au

52.4 Matcha group of verbs1-4a!!la group of adiectives+d to the nounsb€low.Ch€ckany unknown wods in a dictionary. Ieach, 1 accept, aqreeon, close,do, m.k€,ofiersomebody, relect,rgn faxthrough,meet,pare, authorize. cancel, chase,delay. process, put in, receive, shp accept,clari{y, comeup wth, consder, drop,explore, outline,make,put folward,rejecl,rcvise, study,wlhdraw allowsomebody, askfol be avaiable at, be enttledto, get, qua fy for negotate,offersomebody, a ternatve,comprcrnise, concrcte, d€taled,helpiu, i.tercning,sensible, teniatve,vagu€ good,huge,arge,low fivep€rcent, cash,genercus, specia, substantial, usua back,film, inital,ouistandng,regular, repeat,rush,specal, urcent fa r, good, ucraiive, majo(pack.ge, compromise, exclusive,

ty to m.f€ thar decision

b m v 62.2 Finda word from the oreviousexercitethat means: 2 (infarnat)h advance I 'e1a ri g d'rou r of n o.p/ 62.3 Completethe sentences with the pairsof wods in

acceptI candlian daseI deal 9a / stage haveI nind just/ sign nonmt / rcvlew prcfer/ otder preparcdI tems shauldI passible soundsI reasonable t tat Li|ingl enaon se thrcuqh 1 Wed

anirla of, say,300pieces. We'dbe to offe.b€ner of payment, but onlyif youincreased

whaiwe'ved scussed Canwe jun 9o ., whatwe'veagreedso ? aithrs 1 0 Ithinkthat\asfaraswe can ........,

...today.

proposa deal

62.5 Conlinuear before. I ertend.frx,have,rrpose,(fa to) reet. mrss.pdss.set. 2 accept. agreeon / to, arriveat, cometo, find, ookfor, make,offer,reach.seek,suggest fgureoul, finalze,go nto,go over,temize,sort 3 discuss,

a briei,compete,complex, concrete, iinal,fu , mifor, practical, pfecise, rough,iechncal generou:, important, key,limited,major,minotsigfificant, sizeab e, substantial pot€ntal,reasonabe, acceptable, f.lr, necessary (un)satisf adory sensble flexible, strict,tlght

5 W o L r lydo ub e . . . . . . . . . . . . . . . . ...i.o ''' '''''.''. ? 6 vFr, rldr be 7 That 8 LeiSjust take a ....................... ............. . to

..

I

4 extract,get,grant,m.ke,otfef,win

Whenyousay'bett€rterms',whatdo you ? ....in ........ ..... .. We could.. ......... ...... . .. . that,blJtonlyon one

11 ll youcanagreeto that,we can

i '

the

details deadline

62.5 S 14 Speakingpractice:listenand repeat.R€peat ea
12 f yolr'd ................. ....................... ....

Meetinss 129

Meetings- diplomatic language ManyieamersofBusiness EnBlishihinl
Versioh 2: softe, morc indirect CusloTer. Tooeronesr. I s orodu'....T. qLte p,pajvF Supplieri's a llttlemoreexpensive rh. n the o d mode, that3true But thequaiy i! sgnlf.anrly beter Crstomer: lf we boughtth s product,woutdyoug v€ usa good Supplier:What dd yo! havenmnd? CustomerWe werethinknq of, say,something around5%. Supper:Thatwon't be€asy.t'mjun ookinqat myrecodshere. Acilrally, youowe usmoneyon your.ccoLrnt. Cunomer:Yes, know We havea bit of a probtem wth our cashftow nghtnow Suppier:Whydof't youpaysomeo1the moneyyouowe us?Then periraps we couldookagan ai ih€ discount on the newproduct.

Studv Version2: ' Noiice at line i how the Customerusesa rvaming phrase'To be honest'and then changes'is' to 'secms. ' Nohce at line 2 how the Snpplierchanges 'much beiter' to 'significantly bettcr'.Ihis is frore businesstikc langxige. At linc 3 the Customerrses a gamrnatical krm caUed'thcsecondconditional'.The pist toms I'org/'r.nd irorld makc ihe tanguage morc hypotheticnland indjrcct. At linc 6 ihe Suppliersays'That won i be easy'insieadof 'Ihat('illbedifficult'. Using rtur+ a posltivewo.d lncieadof a ncgativc word is typicalof nldirect Lhgrage. At line I the Slpplicr uses. negativc question.This is also typicalof itulifcct

The phrases you need @ 'perhaps','maybe' Pethdpswe shauld Maybewe cauld 'would','€ould','might' We wauldneeda qualnyguarantee. Heresan idea\,/ecouldtoak at. Thatnight be guneexpensive lust' CouldI iust go backto thepaint about . fhe.e'sjustanethingl'd liketo add. ]t seems ta me that fhete seensta be a prablen whh Rephrase with 'not' Aut competitarsarcnt verycheap Thatcloesn'tgiveus verymuchtlne Thatwon'tbe easy Warning phrase

Negative que5tion Whydant yau .? Woul.:ln't lt be beftet/ easier to ..? lsnt it the casethat. ) Past forms Wewere thinkingaf sanethingaraund5ak Whatdi.l you havein nind? It we baught th6 praduct,. )

130

63 MEETINGS- DIPLOMATICLANGUAGE

Exercises 63.1 writ€ the line numbersfrom Version2 opposit€ perhaps, maybet wauld,cautd,mishti, lu5f I seemsil rephrase with ,ot| : warnns phcseill L queston n€gatlv€ pasttensel-,l

a b c a € f q h

qulte/ a t.re / a bl. (+ adjeciive)i a bL ofa / a silght(+ noun)

53.3 Makethe commentsmorediplomaticusingthe I Theres onething wanttoadd(just/like) 2 Th.t is mpossble(honest /wou d / veryditficult) 3 Youtebeingtoo oplimistcGeems / me/ tlrat/ litt€) (woudn'1) It wouldbe betl€rto userdiltransport. (actualy/ notvery) Ih s Lnes unprolitdble. 6 We shoLr d leavethat po nt untillater(th nk/ m ght / b€tter)

4 n Ve6ron2, noticelrow the speakers arepo te.nd yet ai the samel rnef rm and de.r In Ve6on l respectful, the anguages aggressve and cleatera badatmospherc /, Othertechnques n Velson2 incude:acknowledging that the olherpersonis iglrt (-cg'lhat'etrue' in line2, and 'yesI know' (€g Signfrcantlyin in iine l0); avodanceol exaggeraton line3)t the useol vague'anguage(eg 3ay',3omeih,.g arc!nd 5olo'in ine 7)t and suggeningthal a problemrs t e m p o r a r( ye g ' r 9 h tn o w ' i nl i n eI 1 ) .

63.2 Matchwhat you think 1-10with what you ray a-j. ' 2 3 4 5 6 7 8 9 10

SropspF".,rgano e re dy lolerh g'o d cha_ge Whyareyoua waysm xingLrpisrues? I'm se ingyourproductin myetorcs, andyetyouwantme lo pd) arl_hpad/pi s ng .oils .rl)sFllYoL'e Lrary goingto ovethis I havea reallygreatldealYoLr're Yo! sad ihat yo! coud d€lv€rtheseiemsbythe endoi yournory Typical. thew€ek Nowyo!'vechanged Thecostof thatopton is goingto be wayloo h gh. haveno ideawhenwe cande verthe item9- theresa problemat the factoryandno onecansolvet Youwantit when ?l Noway. you Lfyouwaniquality, ese.lmoffering 90 somewhere a cfreappnce. That'scompleiely wrong.

63.4 Lookat line4 ot Version2 opposite. lf we baught thispraduct,wauldyau give us a goad discaunt? ': In grammar thisis caL€da 'second conditlona /f we + pasts mpLe, wouldI couldyor ...? Withthe pastformtheifsentence is morehypotheticd dnd indirect- yolr'rcjustexpLorlng an ldeain a tentauve way. Changethesesentencerto s€(ondconditionals. I lf we order5,000preces, whatsortof d scountcanyouI ve? 2 lf youpay50o/o In advance, we w I giveyougenerous terms lor the remaning50% 63.5 ll 15 Speakingpracti(e:listenand repeat.Repeat eachphr.se you hearand then listento check.

A c t u a l l y t s e e r n st o r . e thal it m ght be a litte d f i i c u l tr L q h n t ow

a think t m q ht be betterlo con5der that issueseparately b Heresan ldeawe could look at c lnde6tood th.t yo! had theseprcductsln nock lor m m e da t ed € l v e r y d Olr productsare verygood v. Lrefor money n relatonto e f g h

Could lust interruptfor a moment? That doesn'tgive us very mLrchtjme. That m ght be quite expensive Thereseemsio be a bit of a probem with our production facl ty ai ihe moment. i Wth respect,that'snot qlr te right. j Wou dn't you aqr€ethat its fairer f we sharesomeoi lhe promotona expenses7 Meetings ll

Meetings - review 64.1 Fill in the missinglettersin this €xtractfrom a m€eting.Fourpeoplespeak:the chair.[4arek,Camille

Ihe chairwidensthe discussion: O(, whatotherwaysareth€reto app ch this?s there :ny ge eweslro!dcon er?

Thechairopensthe meeting: R thinkwe canstan Well,qoodrnorning everyone, andth s f c Brucesilland a Unforlunatey, s s hieapo lusta colpleol hou p nq thingsbeforcw€ begin - we l havea sh t b k aroundtenth iry,and[...] . DoyoLr a hdve.c y of the. a?GoodCansomeone t e the rn s?Thankyou OK,let'Enroven t ro the f lst Marek,wouldyou

camillegivesan opinionl Fromnryp t of v w, thinkthat [. .] .

Marekpresentssomealternatives: Th€.eares€verawayswe couldd w thrsiss Lett lookal the p s andc s ol €achopt I. I so,in qeneral I m n fa r of optionofe because of thecosl gh I.. I . advantases, . Thechairaskscamillefor her r€actions: Th.nkyou,MarekC.mre, canyoutelluswhatyouthink? T h s s y o u r l d a n d k n o w y ohu e s e e x Camill€sp€aks: l a g r e e w l h M a r e tk u a p l . r t m a y b e te r h a t l L blt we a so hav€to conslder 1..l sowhatlrntr gio! isl lOr,lop rts ly,l I Canlc e i here? Thechairblocksthe interruption: Marek, coud youI I Camileli b to you n a mornent Camille(ontinues: Co t me I 'm wr thatI ..1

? 'll c

Adrianareformulates: Y€s.I me p it a

r?

er way,I ..1.

Thechairkeepsthe discussion moving: Le13le e thdtas e lor th€ rnoment I m not surerrs rel t Camillesuggestslhe next st€ps: Ithinktheb !!ayfor d s for usto I.. I . The(hair asksfor repetition: sorrycanyour thr thatagain? lwanlto besure CamillerepeaG: Y e s .f c €,t. 1. whatwe'vediscugsed s

camill€sp€aks: Abs y And it'snotjlst [ ], i5 a so I I So n terms ol ac on p ts we needto [...].

,butin

Mar€krej€ctsthe suqgestion: Thats s ke a qood ded,bui dont think t woLrld w pr e Thep fr s[...].

112

Marekasksfor clarification: Yo! men ned[. ] . fould yoube a ttle moresp

r .tI

e

Thechairchecksagreement: OK Canwe g r the t e andse€il €veryone agrees? l. I Good,thatSsetted thinkweshoudm €

Marekcorrectsthe misunderstanding: Perhaps I haven'texp nedn-iy f cl ly Thatsfot what me t WhatI wast nq to 5aywas[ ]. As a roff ,1..l anid

Adrianafocuserthe discu5sion: thinkwe needto dn ze th s in a I le morcd th. And so, because of that, i t d to feel rhat[.. ] . t I

Th€chairsummarizes: I seenow.OK, et'sg o

q, butMarek s

Adrianamakesa sugg$tion: Canlmakeasuqqest3 o ln ? of I. .1,whydont we [ ]7

LetSihlnkcar llyaboutthe m ionsof that. o theo h [...],buton theotherhandt. .l .

d

After sometime,th€ chairclosesthe meetingl Wel, thanksfor youri ut, ev€ryone.thinkit wasa very u ul d sclssion. Shallwe I the t for the nert meetn9?[. ] Oh,yes.Marek, canllusth a qu w wth youbefor€youdisappeat

64 MEETII\IGs- REVIEW

54.2 Completethis negotiatingdialoguewith ihe wods and Dhrasesin the box. a viableaption are we talking arcyou happy ate you looking be prcpated did you hare get down havea deal insteadof nAht be able noving faMard .eallynat surc soundsrcasanableupfront

SupplierOK, etb business. So.youte interested ln our grcetinqs cads. Custorner: Yes,theArtsCardsranoe- the oneswith the images of famouspaintings. SupplierWe sella lot of those.what sol1of quantities Customerrruna chainof ejghtsmallretailoutlets.andl'd like to put the cardson a display standbythe checkout at each one.Whatqlanttiesdo yousuggest? supper:We 3 ..............-.-...... with the stand.But etb get backto the quantity. Perhaps youshouldmakean in tialorderof, say,2,000cads. CustomerThatseemsikequitea larceamount.l'd p€fer to have1,000cardsandseehowtheygo. SLJpp er:Whenyousald'display nand'earlietwhatexactly .. n mind? CustomerA rtandfor the counter Suppier:5. a counter stand, whydon'tyouusea floorstand?Thecapacity is much biggerA floorstandthatturnsround. Customef: Yes,I thinkthatwoud workwell.Afe theyeasyto find? SupplielWe cangile youonefor eachstorc,fteeof charge, but yo! wouldne€dto ordera minimumnumberot cardr. Customer:What sortof figure .about? Supplier4,000cards.ll yousell100perweekat eachstore, You'getrdofthem Customer: No,l'm sorryjan orderof 4,000is not . ljust don'thavethe cashfow to supportthat kindof purchase. SupplierCashfow doesn'thaveto be a problem Cusiomer: Whatdo youmean? SupplierYoudon'tneedto payeverything in advan(e. lf youorder4,000cards,we ll giveyo! veryqoodtems of payment. Jusi50%3 the baanceafter30 days. Cunomer:What isihe con percad? Supplier: Thesuggested retaipriceto the publicise.90. We sellthemto siockinsikeyourselves for €1 20 each. Cunomer:Well,to be honest,l'm ld likesometimeio thinkaboutit. lts a lot of money- unless we cannegotiate the costpercard. supplier: l'm sorrythat'snot negotbble.

Customer: CanI suggest anotherwayot prepared to takebackanyunsoldcardsfromourord€r?We don'tknowwhichonespeop€wil buy. Supplierll we agrceto ihat.

wth th€ oth€rpoints? Customer: Well,an orderof 4,000cadsisfar morethanI was thinkinqof initially, but I guesst! posslble. i'z SuppherOK, we d to take cads,but onlyfromth€ firstoder,and in perfectconditionfor usto reseL Supplier: That'slt, then.lthink we 54.3 Makethe
It maybe difficulito arrange that. (unfortunately / may/ veryea!y) We'rehavinga loi of problems at ourfactory (oneor two / issues/ r ght now) 1 0 We expecteda tlvo-yearwarranty. (honest / expectlng) t l I thinkthatyournewrangeisthe $me asyourold range.

(seems / me/ moreor less) t 2 It wouldbe easier to paymoreandshipih€ goodsby Air Exprcss. (wouldn't/ littlemore)

Meetings 133

@

"u",rr.rs

reports and proposals- reports I

There de many different types of bushess report: ,/ A sales report gires sales figues for different producis in differcnt regions in different time periods. /, Market resealchanalyzesa company'scompehrrle position in the lndush y, ideniirying new markets and etc. Prooucrareas? A f i n a n L i a rl e p o r lm , A l ' ld . - u - h u d e e t . . r m i p n rb e the text that accompanies compey accountssuch as the quarierly or annual nlcomestaiement(unit 26). /r A ProgrPcsreport lport" on ll'e Droprc5..tdn ^r{oin8 l/r Acost-benefit analFis {CBA) looks at the resources needcdmd poieniial benefitsof a fuhue inlestment (eg an lT system).

ri, An appraisalrcport is written by managerabout an ernployee'speifomance, biining needs,etc. tt A f€asibilily study is an inv€siigation into whether a parhcular system,project,produci linc, cic is praciical, desnableand finmcially viable. A b u r i n e s rp l a n d e - r i b e -I n e m c d r u mt o l o n g - t 'r m strategyol the compann S€eunit 9. rt An inquiry is e inlesrigation into an ongoing problem, ideniifying causesand recommendingaction. , Acase sludy is an analysisof one palticular completcd cise (eg an engineeringproject)that allows professionals i, A quality report is a regularreport that monitors standards,idcntifi€sf.ilings and sugtestsaction.

All thcsciypes of report haveccrtain feahres in common in ierms ofstyle,layout and structure.Seethe tablcbelow

5tyle

lactua (areiu baanced measured high €vel oTgrammatca dccLrracy

Structurc (langerteports) (shonerrcpotts) synematic numbern9 ol Nor€:in a busnessreport sectonsandsub-sectons Coverpage Io / From/ Date/ the'Findings'section w bu er po ntsand ists Acknowledgements Subtect probaby be r€pacedwth (Tabeof) Co.tents visuals suchastables, Introdlcton sectonsretated to the (Executve) charts,d agrams Summary Fndings contentof the repo( areasof blanktpace Terms ol Relerence Concusions Forexarnple: at the margnsfor the Procedure Recornmendarions Advantages / reader to makenoies Fndings D sadvantages Concusons A / OptionB Option Recommendations MarketA / MarketB

fhe phrasesyou need E€ Introduction Theaim/ purposeof thlsrepoft is ta .. As requestedin you enail af 16Novenbet hercis ny repatt sLnmati2ing/ analyzing.. . togethetwith ny re.ammendattons |'m writing thjsrcpon at the requestaf . I Thisrepoft was (annissionedby .. h n ldd? l onststs ot / L di\ded,nrc| conrd It is basedan intetuiews with .. / infomatianobtained trcm ... lnfarnatian wasgathetedfram the followingsaurces:face-tofaceinterviews,a questtonnaiesentto . . , internalcanpany dacuments andmarketreseardcarriedaut ..

conclusion A keychallengefadng us is .. ln the llght af theabovefindings,we rcachedthe lallowing On the basisof the figurespresentedabave,.. wauldbe

Theteis clearlya gap in the market,howeverserious obstacles stillremain... It is cleatthat thereare significantlevelsof .. Unlessthese issuesate addressed as a naftet of urgency, Thtshasthepatentialtabe a sucGssful prclectprovided.. Recommendations Findings Ihere ate thrcemainrecommendations to nake We(sttongly)rercmnend that .. Aur researchshot\/sthat ... TheMatketing/ Aperationsdepaftnentshauld... Weirlentifiedthe follawingkey areas. Fudhetrcsear.hshouldbe caffiedout to find out 45o/aof thosewho repled to the questiannatre thought that .. . A neeting shauldbe setup between . and .. Thesurveyshawedthe fallowingareasof.anrcrn. I te(onmend that we pravidethe fundsfot and nove to Thiswill inevitabiyhavean impaclon ... the nextstageof develapment Oneof the big a.:lvantages af thisproposalis ..

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- REPORTS 55 BUSINEsSREPORTsAIID PROPOSALS I

Exercises 55.'l Matchsomepossiblesectionsof a reportin the box with their des
1 a short,overallviewof the rcporttogethe.with the (it helpsothe6to conclusions andrecommendatons decidewhetheftheywantto readthewholercport) the man bodyof the rcportiit contains allthe information that hasbeencolected,presented rna logrcalorder, andaftangedunderhe.dingsandsubheadings incudessomeor allof these:the title;the nameof the pe6onwho commssioned the report;the nameof the reportwdterandhis/ heriob tit e;the organi?ation; the datethe repo.twasrssued; a reference number;the degrceof confidentality; the distrbutionlist judgement the wrter makesa personal about specifc actionsthatshouldbe taken- theseshould be basedd.ectlyon the results of the investigation a listof al the headings andsubhead ngr thatare pagenumbe6 included in the rcport,with theappropriate the methods of invesiigation usedto findthe information (egmeetings p!blishedreference andvhis, intervews, personal quertionnaires sources, observation, andsurueys) suppofting matefalthatistoo ong,too detailed or too iechnca to be included in the mainreport(ormaterial that s usef! asbackground but isn'tessenUal); it may graphs, incud€tables,diagrams, fiom drawings, extracts otherpub catons,etc the ex.ctsubjectof the repod,itsscope(= whai it deals wrh, rrs.anoe\ a-d hmrtrtors, whyir wa\wanen, who rskedfor it, who wroteit, whenit wascompleted ihe signiflcant results of the 'Findings'th s section flowslogically fromthe factsandpointsdiscussed earlief

65.2 Matchdefinitions1-18with the wordsassociated with reportsa-r below'Checkany unknownwords in a dictionary. 1 thewayin whichte( andillustrations arearranged on the

pus" l 2 whena blockol textis{urtherto the rlghtthanthe b ock aboveit a 3 an earlyversion of a reportthatmayhavechanges made io it beforet3 fin shedIl 4 pictures anddesigns thatcanbe digitally ins€rted intoa reponr-anothefwordfor'summary' usedespecally in scientiic/ technical rcports[ ] the methodof holdingtoqetherthe loosesheetsof paper (oftenalsoihe covefof the eport)f l (egquestioas questons someone who answers na questionnaire) [. 8 an ilerr ir a lsr wrtha srrallsyrbol ,n fro'rrol rt I 9 a methodof directing the readerto anoth€rpartof the repon' l 10 letteBof a partculafstyel l 11 a noteplaced.t the boitomof a page,or at the endoi the reponI l 1 2 information thatappears at ihe top/ bottomof everypage (eqthe pagenumber, somewordsor lettersdentifying the repon) 1 3 thetarcetaudience of the rcport l 1 4 an alphabetcal listof unlamiliar, ized ditfcultof specia wordsandphrases, with ther expanations L 1 5 a consistent styleof writng (andl.yo!t) u5edby everyone i ] rnside an organization checking andmakingcoffections io: document (oa'rKLlary n elator to speIngandr'(oisisrercres 1 layout)it 1 7 a sho|tpieceof writingthat introduces the r€port,written by someone otherthanthe mainaLrihof i1 8 wordsprintednearan illustratiof or di.gramihai explan what it isI glossary g header /footer b drait o proofreading d caPiion q crp a|! binding layout I bu Letpoint

1 0 a paragraph or two whereyouthankallthepeopleand organizations who hepedyouduringthe preparation of th€ rcport

BusiDer.repons and proposah 135

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reports and proposals- reports tl

Unit 65 described the structure of a typical report and rhe tabte there gave some ph.ases fo. the main sections-In order . h i ' e d r . p o 1 . i r ' - l ^ ep t u l l o $ e L r B u J B ed r e " . "iudy given below, although note that they'le very diverp.

Topic sentences Look at this paraglaph. Next ledr the ccolto'tiyis likeu ta na,r,dod,i sisniJicantly,btt uithat! goi'Lgiito rec.$ia'l.Consulftrdena oill decr.ase as tcopte,sea gteatcrprcpnian oJutn incaw to soo.ar to prv ofI debh. Ho1lctu the Toerketeutu |L'ill hcLpcr\ncrc, and atrscas ddwfld n1Bnzjl, ltltiiaa,t.l Chi11n /ejtnitlssnatry. The first sentenceis calleda 'iopic sentence'.It introduces and summarizesthc paragraph.Mostparagraphsin fomal writingbegin with a topic sentence,and they gn'e a solid stluctue to your writi!8.

Signposts Look at thesephrascs.

This is a major langla8e dea coveredin more detail in lnit i'l additioi, hooeeL thdehre, altelnatitiy, in Seneral,clurly, i|lfnct, nt particukLa theathcthand,in cancltsionetc

Formal. impersonallanguage The lmSuage of reports is more formal than speech,btrl not so fonal that it is difficult to understand.IiJormal language should bc avoided.The following scntencehas I (1oo personal)dd a conkaction(too infolnal): I u ditided thk reponi,no ... lnstead,you mighi write: Th;sr.port is tliuidcdnttu... Waysto make your writinS a little more formal include: Thc passive: d l..isn,r is expectedsaon 1cli!1dtff| t t .oill bc uade h Dkhbcr

Tht sur1j..vshou&1 thcft,ttau,,s thre.rpas ol co'1co't:. . . s.ttit 12.2ofth. rq.tt i(illdkcuss thish,'arc d.tii|.

Ir + passive:

Th.sc arc'signposts'- phrasesihat hclp thc readersecwhere you'rc going, or where ihcy need to go. They are aids to

Noun phrascs:stafl ntil,ntion/srt.i cat{ctcncc / tnlstlott ttsura'tc!noctrterts/ c)ntll l! tlc sk n Ptntl Vocabulary: Srr > ncrilc, L\1d> Ngatiu., bi! > lorJz,alot al > catsi.l rbl., nntu! > linoEinl rcntnces

Balanced, caretul style In a rcport you don't want io solnd too certain,or too inflexible,in your thinknlg. lssucsin the real world are rarely black and white. So wriiers tcnd io use words and phrases thai producea balanced,careful,mcasuredsryle (like l.rd rd in this sentcncc).Other examplesare: tn geneEtl , , nowever' On the whole, ... / but ... Many / Sone / Several/ A najo O,ol usualy/9picaly/often would / could / nay / might It is possiblethat ... Ihe praje(t is expected ta .. lntlatian is likely ta . . . substantially / .ansidetably sigdf ican tly / relatively maryinaly I slightly

r36

Linking words

If srorldre cftphasizedtlnt... It is rc.ommehde.llhnl ...

Repetition of words / structures Repeatingwo.ctsin a report can be bofing and show a lack of inaginaiion and poor style.Bui therc are occasionswhcn ihc .epetitionofa key worctor struciureadds clarity and impact: Snhsin ltily Llrapp.d a littl. tast!e|r,1!]tj1esnla i SNnt Mn,n:tt stend!. HoloR'ar,sobsi Fraitcenctnl\/ i crcasctl b)l2%. ln this erample, repetitionofsnlss,r l+ countrylhighlights the name of ihe coutrjes and adds impact. Here are two turiher examplesof repetiijon to add inpact: Our gaolis ta ... .1) adtjtu thisgoalue hilteta ... We ttetricd to dnelap Jleribilit! loith our . . . . HowerT thls JleribilitV has.ahE tuith a cost

Language of trends Seeunits !

md 55.

- REPORTS 66 BUSIiIESSREPOFTS AND PROPOSALS II

Exercises 66.1 Readthe following paragraphfrom a reportabout lT spendingcare{ully.Thetirst sentence('the topic sentence')is missing.Choosethe bestfirst senten(efrom the three optionsbelow. t . /Tr . so Jlor shoLd be an .nlegraled workspace lhati; bothan intianetand a cenlralresourcefor our organizaiio[ a Access documenlsand intormationsecurelylrom a Organizecaendars and schedulesin a cenlrali2ed a l\,{eet live,online- anylimeany\rvhere. a sharcp@sentauons anddemonstratons. a Collaboratewith co-workers,partnersand clients4Achl6ving the6egoalswillresultin increased creativity and r',incr€as6d elliclencv a We needto investin an lT solutionthatallowsusto reduce costsn everydepartment, b We needto investn an lT solutionthatallowsusto become the marketeaderin our industry c We needto investn an lT solltionthatallowsusto share information andcollaborate wth colleagues mo€ effectively. 56.2 The extractaboveshowssomeexamplesof 'repetitionof words and drudurel'. Find: 1 two wordsin sentence 2 that refe6backto 'lT solutionin me loprcsencnce. ........ ... 2 two verbsn thetopicsentence laterin thatarerepeated the bu let points 3 a two-wordphraseif the secondhalfof sentence 2 that is rcpeated in oneof the bullets. wth a rlght changeto the formof oneof the words........... 4 a wordtlâtis repeated tl ee rimesin rhebJllprpoin6 Notcealsosomerepeating sirudtu.es: a a verbin th€ infinitive aftereachbullet a 'increased' + abstEctnounin sentence 4 A theserepetuons combnedwiih the clear,conci!€style - helpto pe6ladethe readerand givelhe pdragraphmpact.

55,3 Underlinethe alternativ€in italicsthat yor/ think is moretypicalof a businessrepon I We'vemadecors/derable / fartastlcprogress, andquality levelswill I are expededto rctlm to norma within a f€w 2 Salestendto / nearlya\Natsdropa littleoverthe summ€r petiod,althoughthlsprobablywan'tbe / night not be rhe casethisyearif we continue the marketing campaign. 3 Verysoon/ At the earliestpossibleoppottunit/ we will needto havea meetmgto plantheprcduction /a productionplanning neeting. 4 Hisperlorrnance overrecentmonthshasbeenbadl qule poar, at\dit nay be / w,//be necessary to reviewhis employment with us. S Iherc is a really/ relativelyhigh isk of f. lurewith this projec(unlesswe investmorcnaney / financialresources at thisearlystage. 6 lt is possiblethat/ Maybethe suley is not veryaccurate aswe onlygoa/ obtalneda response rateof 25% 10our 7 A lossol )absis / is likelyaobe one of ihe corsequerces/ thingsthat will happenil th€ processs automated I foday everyoneis / nany peopleare look ng at teleworking as an option,but it /eadsfo / typicallyleadsta a serseoI 9 Somesuggest onsariing frcn / thatcane ta my mind from theseresultsareglvenin a ,st / presentedbelow 10 We caffiedolt /otsoflnumeroustestsrnourtechnical department andthe resultshaueheenprctlygood/ 56,4 Rewritethesesentenceiusinga passivelorm to avoid 'l', 'you' and 'w€'. I We canusethe samestraiegy for otherproductsn the range. ........... .. Irqs!4lelta&sllar Lq qied ........... for other products In the range. 2 Insection 2.4lwill(onsder theenvironmental mpactof mesecnanges. In section2.4ihe 3 Youcaoon y do thisafterihe machines havebeens€rviced. This machines havebeenservced. 4 | shouldemphas zethatiheseresults arcon y provisiona that these

results areonlyprovis onal.

Bus'nessrepons and proposals i37

Businessreports and proposals - proposals I What is a business proposal? Business proposals aie wntbn when a supplier (AmE vendor) is trying to win a conhact with a client compey, in competitionwith oiher sirnilarsuppliers.The isriter is trying io persuade- it's a salesdocuent and therewiU be strongei,more 'comercial' lmguage than in a business ll:port. The writer wili use techniques from sales and rnarketing such as talgeting the client s needs and offering clearbenefits.Typicalcontextsare: l, Trying to get the contractfor a small, independently produ.ed piecc ofwork. Example:somemarket rcscarch for a client compuyr'0 Trying to win a contractfor onc pari of a largE ntcgraied project,done in closeco-operationwith the client company.Example:asubcontractorwho offers a specializedseryiceand will wolk under ihe client conpany s proj(t m.na8er Making a prcposalto forh a continuingrelationshipwith theclient.Exanple:a pruposalfrom an adverrisingagency. Outliiing the cascfor a morc formalizedpartnership bctweentwo scparatecompanies.Example:wheretwo oqunl p.riies co-opcrateto devclop a nes'product or enter

Structure of a business paoposal A typicalstructurefor a large,scalcproposalis shown below Shortcrproposalswillobviously be simpter ? Execuiivesummary 2 hltroduction(analysisof ihe currcni situation,tne approachselectedand why) Goals(list ofgoals laken dire.tly from what the client has told you, wiih mcasurabletarg.ts thai your work will achicve) Pfojst scopeand aciion plan (key componenrsand x h ^ n . r h a rv ^ u w i l l p r o ! , d e :d e f i n i n Sy o r f - o t er relationto the client'srole) I m p l e m p n r . r i , or h n o wy ^ u w i l l w o r l w i r h r h ec l , e n rrj timetable/Gan tt chari; deliverablcs;resourcesneeded suchas officespaceo! accessto information) Areasof specialexpoiise (your specialized,md preferablyunique,ski s and know-how that show why you're thc ideal supplier) Projeci team menbers (a paragraph on each peson to establishcredibility with the clieno Pricing (you fee, other costsfor you oi ihe dient, dd po€sibly a short paragaph at the €nd, emph6izing how the prcpGal is cost-eff&:tiveand how the climr win benefit) Conclusion(a cost'benefitanalysisshowing why ihe pice is worth payinS) 't{l Appendix (a list of your past projecis; tull detaiis of you team/ihe pdcing/the Action Plan etc)

r38

The iable gives some example phrases taken fron six different se€tionsof six different proposals (ABC, KL, MNO, etc @ the names of the various cLientcompanies).

The phrases you need B Introduction ABCis loakingfar assistance in choosingand inplenenting ... [. ] Upgradingta a new systemwt allowABCta .. and will cut inwntaty costsandshoftet productionrun times [ ] An uwrcded, stateol the att systemwill positionABCasa leadingplayerin the fieldof ... wfth theaality ta suppottthelaryestsizedcustones.

coals JKL',nain goalis ta autsource ... in ordetto rcducethe

numbetof n-hauseFnplorpesrhcsecnplorap.arc tullyoccupied fot anlyabout60okof theyear[...] A secondatygoal is to mininize the time thatJKL nanages spendan prcblemsassociated with . . [.. ] fhesegoalsarc achievable, and out ptapasatoffe6 an idealsolutian.Weare ableto deatwith and aul customerserviceteamcanhandleanyprcblemsthat

lmplementation Wewi delivetto MNOimmedtate stockof ... and make a commimentto supplyan additianal... [...] h addtion, we wi ptovkleMNOwith salesflyersandstorc displays fot

I

I We wI atsaconou.t a na(et,ag sutrq al

250 end use5.wht.h cdnbe usedby MNA rc Areas of special expertise STUneedsa conpanywith an in-depthundestandingof knawledge , andwe haveextensive of thisfield.[...] Aut personnelincludea forner . managerand twa ... engtneerslhe enqineershavecansiderable experience af wotkedon sinilatsystems 1...1Weve in 28locatians in . 1...1tncludedin theAppendixis a listaf prajects we vedane andtestimoniab hom ... .

Pri(ing Thetotal .ast of thejoint praje.t whh peR wi be €4O,OOA. Of this total, our fee wit be 8A,000. The t.mant41C10,0AO at e\pen,e w,ttDeabsatbed t. PQR.[ ] PQRs goalis to convettone-tinecustamers into rcgular.ustonetsb\/ denanstratingthe long tasting benefits af ... Aurprcposal shawshow thatcanbe achievedin a cost-effective mannett . lThe resour.es that PQRcomnia b the proje.t will alsoallow it to take advantageof oppotTunities in ... na*et' Seenext @lumn llg

- PEOPOsALSI 67 BUSINESsREPORTS AND PROPOSALS

Exercises 67.1 Finda word {rom'Structur€o{ a businessproposal' oppositethat mat(heseachdefinition below 1 the rangeof thingsthat a parUculdr activitydeaiswith 2 (twawords). d agtan usedn prolectmanagement thatshowswheneachtasl
e:

1.

.r '^ r!'. freld

3 a sec arygoal 4 we will con t (= do/carry out)a m.rketng su

y

5 a company with an i -de lndeEtandng oi ... 6 we haveexte ve knowledge d of thisf g€l0,000ofexpenseswllbeab ed 7 therem by PQR -eff 8 thiscanbeachieved nac ema er 9 | q'as ng benefitt 10 the esiab ed marketleaderwith a 400/0markel sh

rg conclusion Werecanmend oursolutionas beingthe bestopxon available to reduce costs over the mediun to long tem and,e,nta e XYZ\ b,and, inaq". [.. ] thp nalkpt is relatively new, and ta date no significant competitors ta XYZ haveeneryed. An inproved inage should help delay conpetitian. [...] When conpetition does emerge, XYZ wi be seenas the establishednatket learler and should be able to hakl at leasta 40o/onatket share

57.3 Lookcarefullyat the €xamplephras€sin Th€ phrasesyou need'opposite.De(idewhethera or b is 1 In the lntroduction secton,the proposal: po nt of view showng a iswrittenfromthe supplier3 a company history.nd. bulletedlst of prodLrct b iswrittenfromthe clientSpointof view,outllning a specific needanda specific solutonjustif€don In the Goaksection, th€ proposal a prcsents ,omeprcjectgoalsthatth€supplerhas analyzed andthinksarenecessary b presents someprolectgoas thatthe c €nt has explanedto the supplier. Inthe Pricng recrion, the proposa : a presents an rternzed istoi a I the cornponenls of the projectandtheirprice. b ttateslhe totalcostin a simpleway,thenmoves on to rnatchthe c entsgoalsto thiscostand a so statean extrabeneft (A detaled breakdown ol costsis probabyincudedaspartof the Appendix.) 4 Inthe Conclusion section, the proposa: a summarizes the mai. pointtin a carcful,baanced way,expl.ningagainthe differentoptionstor the prolectandwhyth s pa(ic! af onewaschosen b makesa strongrecomrnendalion that linksio the client3go. s, thenrnoves on to identifyadditonal vaJe beyoldrhF nmedalp go. . ande{pairs the b€.efitof thisaddedvaue. 67.4 lf you understandthe personalitytype of the deaision-maker in th€ di€nt company,you (an usewords in your proposalthatare likelyto produ
BLrsiness reportsand proposals 139

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reports and proposals- proposalstl

In every successfulproposal the supplier sends rhre€ main messages to rhe client:

We
We have the competence to deliver (= capabilities) The clicni wondcrs,'Can they do thcjob on timc and on btdgci? Havc ihey h.ndled sitrilaf projcctsbcfore?Is there . risk that thcy won't do the job prop$lt?' To reassure the clicnt you can include references, tcstinonials,a list of clients,a.ase study of. previousproject,awards,prblished rc!iews, reportsby indcpcDdeDtafalysts h the field, Cvs of kcy ic.m nlcmbors,p.ojcct plans,a brjef companyhisiot, that cmphrsizcsg(r!th ihrough succcss,cic. Aui lessis more iD this .rc. - one good casestudy from the samcnrdusirv showing thc sime kind of rcsulis ihat vo!r cli.nt is soekiDg, nray bc cnough to Bin ihe coDtract. h terms of tho struciureni unit 67, ihis thcm. is cspccially relevaninr sections1,5, 6, 7,9 and 10.

We will giv€ you what you want, plus maybe a little more, at a fair price (= value) Clientswant a fan price,with no hidden cosis,and no underesiimatingof the effort and resourcesneeded.Thev want to seewhat kind ofreiurn on investmenithev can expect,and tlrey want to know if you're offernrgany added' vah'e fackrrsthai go beyond the initialaralvsis. Your proposalnlusicontah a cleAr,erplicit value proposihon an argunent i|at shows the.lieni thai ihey getmo.e by buying from you than the),can get from choosinganothersuppller The tableoppositeshowshow 'value'can mean a laiiety of things,not just financialvalue. ln terms of the strucfurein mit 67, ihis theme is especiallv relevantin seciions1,8,9 and 10. Durng the decision-makingprocess,the client will probablv use ihe tbJee $jterja abole in the order shown, ie fnst Lhey h r l l h p l o n p i r _ c e .l h F - c d p d b i l i r i e . . d d ' i n a l y \ . l u p .

140

Financial ger rhe oweslp'ice. edJceope.ar,4ge^pelses ircrease revenue,improvecashiow, reducebad debt,outsource io removefixedcoststrcmthe payro, increasethe get a argerporlionof absolutevalueol eachtransaction, eachcustomeistoialbusiness Social Iniernal:increaseemployeejob satisfacuon, enhancejolr performance, reduceturnoverarnongkeystaffraembers reduceabsenreeism. acceerareemprovee lra 1rn9 Exlernal: increasecustomerloyalty,improvebrand recognilion. crealea positveimagein the communly, addressa comanunity concern / envronmenlal

0uality improve€lability,enhancemaintainabity,increaseease ol r.rse, complywithregLrlatory standardsconiormlo a specificqualilymelhodoogy, redLicedetectrates,reduce customercomplaints

Technology g",r" ,a" d'"","n,p"a"a or hardware a10sofra'o lo worktogelherpfoperlyimprovesyslemflexiblity, implemenl lhe mostadvancedtechnoogypreselvethe valueol legacysysterns, reducedownlim€,add new lealdresor capabllres,aJrorarea laooL.irtersire

Riskminimization avoidlhe riskof lailureimplemenl the mostproven appfoachadd€ss healthand safetyissuesavoidlab ity

Compeiitive advantage overtakea compelilor, becomethe marketleader,enier newmarketsquickly,updateproducisto keepthem competiiive, iocuson corecompetences

- PROPOSALS II 6A BUSIi\IES5REPORTS AND PROPOSALS

Exercises 68.1 Checkany unknownwords in'Value:what maters to the client'in a dictionaryTh€nfind a phrasethat mat(hesthe meaningsb€low.Write your answersin tull. 1 decrease the amolntof mon€yowedto youthatyoucan

2 f rc yourown staffandhavether workdoneby an outside

: get ordersfor largeramountsof mon€yinneadof 5m.ler anountsof mon€y 4 inrprove the nandardof peopleswork 5 stop 50 m.ny impo(ant peopleledvn9 the company

6 rnaket easerto servce equipment mak€surethat your productshavethe levelol qua ily that

folow an estab sheds-"tol toos and stand.rdssuchas the EFQMExc€lenceModei,the l5o 9000 series,SixSgma oe.ol. ro ,1

. < e) o J r o d - . " n o , o q y a t o " g . O ey o u r e *

1 0 decre.sethe time during whlch the m.chinesin th€ factoryare not work ng r r . o p % ( l( e . o 1 e , 1 r ' g r h . _ 1 a sw o , . e o n d r y u n e s belore(andso has lim ied rsk)

11 p

t2 makethe workp ace lessdangerous l 3 redlc€ ihe worry that peope miqht sLreyou (= take yol] to corir) becaLrse of damageor inlurythat you havecaused jusi do what your companydoesbesi

68.2 Readthe extrad in the next
PROPOSAL Frcm Cltstom Computing .Io Big Fridge Manufacturing Corqoration KeY goals Big Fridgc is considcringan upgndc oiiis ERP (Enterprise ResourcePlanninS)sortlarc to allowit ro expandir-s manufacnringbde iD Edienr [urope. Big tridgc mnts to kno$ whatoptionsare alrilable, and nr pafticularhow it is pcrible to curomize a siandardERPpackagc.

Custom Computing: special expertise Custon Comptrtinghasextersive€xperienceor installing, upgmdnrgand custornizingERPsof$vafe-a Iist ol rcccnt projec6 is ircluded h tlre Appendix. We haveparticularexpenisein (he doDesticapplian.(s sector,dd recendycarriedout a similarprojecrtor QLuliiv Cooke6.A folloiv-upsuney at QualiryCookeB i,rlicaicd that lhe averagenanager saved1.5hotra per weckasa re$rh offie new ERPs)Btem,and fial the systempaid Lr itselfwithifl six monfi! a! a resultofimp.oved produ(livit,q

Action plan and deliverables \ t prcposctharCusbm Compuringworkscloselywithdrc ITdcpartmcnr and scnior managcmentofBig Fridgetb. a rhl'weck period, to anal)". the optionsand cosl\ of lny $t rvillassigDto lbB projc.t onrSenior Systems Analys!, I)r Kla$ Mnello, one ofthc lcading profesionalsin his ilcld. His (lV is iDclrdd in ihc Appendix. At ihc cnd ol thc $GNcek penod we willdelivern repo'r t{, Big Fidge hirh {)uf recommeDdaliorN and full

Conclusion Big Fridgeis in r position$here ir.an m2le signilicant ad\2ncesin borh prcdu.rilq rnd prolihbiliry asa result ofinveshenrs i. ERPsofNar. Theseinvestm€nts will positionBig Fndge a a leadnrgplaye.id rhe white goods \\'€ .econmerd rhat Big FridgechooseCustomcr Compurilg ro.arry otrr rhe inirial elaluarionofthe optiors alailable.Our rnck record shoNsthar h€ a.e ideallyplaced ro provide Big Fridge Nith $is anallsis. Should Big Fridgedecidero go aheadvirh any upgrade \ o l u r i o nC . b ' u m C u n p ' , r i 1 t ks l l b - d F l i g r F , d,o tJ in a further proposrl ro carry out the work.

see the Answer key for the specifi( references.

Businessrcpons and proposals 141

Businessreports and proposals- linking words Cofrpare the two textsbelow

The phrases you need @

Version 1 Talking abolt the Siales, the problem is that $'e onlv hale salesguys on the coasts.And do you kno$ what? There's some iough compeiition oui the.e. A couple of a u . r o m p e l i l o Am e r 8 . d r e . e n t l ) t h e f n e w r o m p . u ) i s walking all over us. Our next quarter's salesfigures are going to be a disastei But yo! have to look on the s1lmy side - maybe ourhead officewill find a local companyfor us to buy' Then we have a chan€e.Anlyay, head office has spcnl a 1ot of troney over there I guess thcy kno{' what they'redoin8.

Version 2 I n r e l a t i o nl o l h c U S m d r l e t ,u u r s r h . J o r c er h e r ei \ concentratedon the two coasts.Moreover, we facevery strong competjtionfrom localplayers.If, fa.t, two oforr compeiitorshavc .ecentlyme.gedand the ne{'company is iakiDgsomemarket shareaway from us. Ther.fore it is likely that the ycar-on-yearrevenucfigu.es for Dext quaricr willbe flat, or clen sli8htly don'n. Neverrheless, thc long term ouilook for the US is still vcry positive - partic'riarlyifwe can make a localacquistion to 'ncreaseour market p€neiration.On the whole we are confidentthatour investmentsin the US market will

VcrsionI is spcech.Sentences arc sho.t. Sometimestherers ro Inkhg ofonc scntencetu thc ncxr,othe. ti esitisdone with simple words likc,4,td,Brt,Thdt, Ar!1M!, etc. Version2 his very similar content,but is cl.arly from a mo.e bnnal contexi.This could be a written report,or it could be a spokcn presentaiiono. n contnbuiion ar. i.rge heeting. Obvjously the vocabularyand gencraltone is more formal, but p.y pfitic!lar attentionto ihe linling ilo.ds and phrases in bold. Theyte used to make thc structlre of the a.gument clear The reader/listeneris ('anrcd .bout s'hat is coming nexr a changeot iopi. (tu '"/drio, io), a se.ond point that adds to the irst one and reinforcesthc argument(flof.oru), a real situationthat the writer wants io lightight (t? fa.t), etc. lMlen using linking rvords,think aboui then position in the Most of the examplesin 'The plmscs l,ou need'can " be ued at the begirDing of a sentence,dd where appropriate are followed by a coma (ie s'here vou wor'ld pausenr spcech).Version2 abole showsthis. i Many of these$ ods can also be usedin the middle of a sentenceafternrd: ..., and iherefore... ir A te{' are used immediaiely after a coma. espcciatty,suchas and raheteas.

't12

These include:

Introduce a new topic regaftling.with referenceta, in relatianta Add a related point nareavet tutthermare,in addltion Show a consequence so, thereforc,asa result,fot thisreason Givean example eg. suchas,fot exanpte,far instance in padicula. especiay, aboveall Explain by rephrasing Say the real situation tn ta.t. actually,asa nafter of fad Sequence frs(ly), second(ly), thnd(ly).finalty the ti t
nen

dno d\e, +.al

Talk generally n general, on thewhole,in most.ases Add a surprising or unexpecled idea howeve,evensa, neveftheless Make a contrast tn (antrcst,an theathethand State known inf ormation of rcurse obvjously,clealy Con.lude in concluslon,on balance,averc|l,taktngeverythinglnta

actually / €k4uJli/ adv*** lused for emphasizinswhai is reallv true or what really happened:Wet,€spotenot tlle phonebul te ueneter actudllt met 2 usedLr enphasizins lhat someihinsis surprising: l rhnlr slp actuallt) ar;reed to so 3 rpot.. usedwhen correctinga siatenenl: It llas !6terdaJ), no acluollr it uas Mondar aip.la,used for admiltine somethins:?id rou spen.l much monq)? 'Well, tes. Quite a

nevertheles3 /,nev.iiles/ adv)t* despitea iact or ideatiat you havejust mentionedi It s a dificult t ace- Ne1ertheless,dbout 1.000 runners pafnapate eteft !@r.

- LINKINGWORDS 69 BUSINESSREPORTS AND PROPOSALS

Exercises 69.1 Coverthe oppositepagewith a pieceof paper. Now matchan item on the left with an item on the riqht with the samemeaning,

3 4 5 6

therefore n p.rticLrl.r n f.ct n qeneral

\

\

69.4 CompletetheseIour paragraphstakenfrom a reportby a chief Inlormationofficer.Readcarefullyto seehow eachrentenceand ea
c actualy

8 clearly 10 re 69.2 Completeth€ sentencesbelow with either'e9' or 'ie'. 1 Fossfues, o , gasandcoal,are keyio pdya smaer roe n the overalen€rgym x 2 Fossfues, o andgas.are ikey to playa smaller ro€ in the overa energym x grata and Thewordse9 andr€ hav€Latinoig ns(exemplt eso.Theycan be usedin speech.s we I asw.itins lid

69.3 Underlin€the corre
in paniulat

rcgading

'

the longerterrn,therehavebeen seve€lrequests by empoyees to changeour off ce fromM crosoftto App€.2 computers thi5 is somethingthat we haveto consder,as App e has r somelignificantadvantages. , Appe oflersa betterop€ratingsyn€r. and is els v! nerabl€to

n fa.t

narcovet

on the whale

o

, appe compute6areakeadyin - the two graphicdesigners usein our organization in the Communications d€partment usethem , w€'v€notcedthat manYother peoplebringto workthe lvaclaptopsthattheyuseat , th s doesnot seemto create - the officesuiterunsperfectywell proberns anyserious on a Mac. fo, e/anpte howe.et ,e(o^d|. '

, tnee a e so'nesero-sobslacles platformthroughoui to adoptlngAppleasthe standard theorganization. Firstly, theres the questonol pfce. - they'retargeted Applesaresiqnificantly moreexpensve at the consumer marketwherefashlon.nd designbrlng a premiumprice.! , therearesome issuessAP,' serious technical , doesn't runon Macs,andour lT supportstaffareunfamilarwih the Macoperatng syslem.

'o

offe6 , to sumup, Microsoft familiarity andeaseof techncalsupporiat a reasonable ^.np.ffF,

whereas /wearez/ conjun.tonusedfor showing thai there is an importani ditrerence between two thinss, people. situations ete Docrors' sarorits ha@ risen subndntiallr, btureas nurses poJ h6

,lF!n- and

grcatersecurity at a higherprice.Whatconcusionscan be drawnTr'z ... ........ . . ........ ihat the best , it seems optionisto contnueusingM crosoftPCsfor the majorityol staff.Wewill of course conunue to monitorthe stuation, particularly asthe Internetreplaces Windowsas. day-todaysoftwareplatform.

Businessreportsand proposals 14:

Businessreports and proposals- review 70.1 Complet€the reportextractby und€rliningth€ correctwords in italics. Sometimesthe choiceis basedsimplyon styleor usage. To: CEO AuloCorporalion From: Che1Economst AutoCorporalion Subject: OLrtooklor the oi ma*ei and its mp cators lor theALrloCorporaton

lnlroduction lHansAberlander,CEAof the Auta Caea?ion, askedme to wnte this.epod / Thisrepart was cammlsionedby Hans Oberlande,CEAaf theAuto Carparatianlhe'1aln / scopeof the r€po.ti5to mak€ a lonq-lermlorecdstof trendsin the snatket far ail t oil narket, and to analyzehow th€ future pnceof oi w impdctthe autonrobe indunry.a/, particular / Especra//y, the reportwil look atoLrrown cornpany.the Aulo Corpordlon,and whetherwe are positoned 10 meet futLrrechdllenges in the m.rketpiace

Oil market The pr ce of oi h.s be€f ifcr€asing5rteadl / rread,i),sinc€aro! nd I 999 Th s has beendrivenby facto6 on both the supplysideand th€ demandsid€ On the supplyside,lotal wor d o I prodlcion has nowpedked,wth no 6i/9nlFl.art / rignifi.artt new discoveries on the horizon lTalkingabaut denand / an the demandside,rtie grcwrh of economies s u c ha s C h n a a n d I n d i ah a sm e a n la h u g €i n c r e a r en t h e c o n s u m p t o n ol orl Ov aresearch shows/ researches show that thesetrendsewl / are likelyta .otitrnue.and that oi pricesw rena n h g h f o r t h € f o r e s e e a bfluet u r e T . h i sw i l i n e v i t a b h l ya v e l a f a r c e l a n l | r , p a c t o n t h e a u t o h d u n r y . w t h h q h f u ep r c e s c a u s n g c u s t o m e r 9 t o t u r n t o m o d e s w iot hw e . . u n nn g c o n s , s u c hl i k e/ s u d a s e e N ( . . a t s .

Fuelefficientengines At Alto CoQorat of w€ cLrffentlymanLrfactu re 1wohybrd e ectricvehrces that combne a conv€nto nal gaso ne eng ne w t h a n o n - b o a r dr e c h a r g e a beee c r c b a l t e r y Saesof thesemodes havebeetl)]disappainting /tefflble, and for ih s repo( we askedan i.depend€ntrrcomparyahaa daes na*et rcsear.h/ na*et rcsear.hrcnpany ra lacaffyon / cafty aut a suNeyto discoverthe reasonswhy lhe surveyshowedthe fo lowing arcasa1 Itanxiety/ .ancernon rhe part oi potenlal cunome6: . T h e r e a t v e y h g h n i t a l p n c e o f h y b n d c a r s d t y p t c a lIl yt t p E a la h y b td . a r p a y sl o r t s e f i n t e r m s ol ower fLrelcons aft€r about threeyears . Thefact that hybrd cars11areunableto go very fast/ qo slorylyThe addltonale ze and we ghr of the batterypa.k meansthat the conventonalenginehat to be smaller and rescuework€6 will qer e€crroclted by " The addedrsk n an accdentihat the driver,passenqers t h e h i g hv o r a q e n t h e c a r .

Conclusions ln the ght of the above rafaundinqs/ findings.we rcachedthe 1enext/ follawinqconcusions: s ' z o i n u e a s i n/gnl ya r e a n d n o r e w a f i l u e ' e f f c i e n rm o d e s ,n c ! d n g e e d r ( c a | s , d u e " c u s t o m e rw io cont nu nq h gh o prices. . Governmentlegh ation on reducnq the emissionof greenhoutegas€sby automobilesw ll a so drive the 2 trend/ tendencyawaylrom convention. engrnes. . Auto Corporationhas been slow to reepondto the (hallengesahead, "because/ due ro customer resrstance to the currenig€neratonof elecrrlcvehcles.

Recommendations There aretwo':rmal,/ mostt portdntrecommendalions wewould ketomake: ! The Board of Auio Corporationneedsto take a lonqer-termvew of the market,!'paying nare aftentionto /thinking abour the priceof oi in B nrategi. decisons , Auto Corporatonneedsto inven considerably rnor€"noney / financialresaurces in R&Dio deveop a new qeneratonof safe, nexpensive and reliabe eectr. batteres.

144

- REVIEW 70 BUSINESSREPORTs AND PROPOSALS

70.2 R€ad this elctractfrom a businessproposal then do the exercisebelow

Understandingyour stock losses Ihdnk you for nreetnqwith us afd helpng us undersiand the nock lossstu.tion at F.shionSupe6tor€n moredepth. We proposeto conducta revewof your norc to s€ehow (CCTV) ClosedClrcuitT€levison cameras couldbe usedrnost effective y, and thencomplete the nstallarion of the synen. Our approachs basedon olr twentyyears'experience oi provding securty soutonsin theretailsectoL Key goals Yourgoa is to redu(eshopifrlngby nstalling wa l-mounted cam€ras insdeyourstore,andto havetheseinkedtomonilors at a centr. secuntydesk.You want to do this in . coneffective w.y

Projectscope The prolectwill inc ude the iollowingacrivite5 . dentifythe best locatonsfor CCIV camerasand insralth€ .

dentlfythe ben oc.tion Jord centralsecurty desk,with th€ m o n l t o ra s n d a v r b e p r e s e n coei s e c u r t yp e f s o n n e . . Rln a tra n nq progr.m lor the securtypersonne nvolved

. A specidlrcpod on how to nranages€curitypersonnel, partcudrlywithregardto. wayskeepngthe rattentonon Stafiing Wewillassignto thisprojectthe followingream: . An in noresecurity expert,Mr BobParker, who hasov€rten y,oars'€xp€rence n thisf eldandpr€vously workedlor th€ . Fourqudriiedeleciicans . A trdiner,Ms Eeatrceslerne,memb€rof the nstitrteof ta ning. Fees We will chargea lotal lee of €254,000tor ths projecrThis includ€ta the itemsrel€nedto above,with no hdd€n Based on the fguresyou provd€dus and on niorrnaton oblainedfiom prcvousassgnmente we havecanedoLrt,we enimalethat this systemwi pay ior itseltwllhin eighteen monlhs.Seethe fgures n the altachedcas€stldy, which describes a verysirnlarprojectthatwe carried olt astyear

Conclusion that you contractolr cornpanyto nstal A t metabefor the diflerentphases ol the prolecti, included we recornmend a CCry systeminsideFashionSLJperstore. Ths systemwil as an append x. we estimate ihai the tota time requredfor reduce yourloss€s dr.matrcally dueto shoprit n9. th s prolects two weeks. n .dditon, the syslemwill hep providea saferenvironment Delivef.bles for th s projectw I ncLrd€ . Approxmately30 CCTVcamera!,wth two aseociated tor shoppe6.Whentheyseethe cameras theywl feel ess worned .bout dangeE slch as eav ng their bagsLrnattended monrtors at the cenvaldesk,alllu ly insialedand(he(ked on lhe foor wh e they ook at coihes Th s safer environrnent ' All addiionalmateralssuchascabes. ir I k€lyto leadto shoppeE spending more time ns de Fashon " A threeday training proqramfor sec!nty personneL, Superstore andtherefore rpendingmorernofey. ncudng how to work the Cameras and monrtors, and I w ca youon Wednesday 6 lune to d sclsethe nen neps ful slmuatonsof shopliftng eventsandhow to dealwith We ook fotuard working youto createa mores€cur€ lo with program them We haverun this in oversixty successiully andmoreproftabeFashion Superstore.

lmplementationand deliverables

Put a tick (/) to show which sectionsofthe proposalmenrionwhich ofrhe three them€s.S€eunit 68 for the themes. Capabilities Understandingyour stock lorses Keygoak Proiectscope lmplementation€nd deliv€rables Staffing

Seethe Answerkey for the specificr€f€renc€s. Busines5report5and proposak

145

Discussiontopics Unit I Page6 n yoLrrcountrywhat do peoplethinkabouttheissueof free lradevs protection sm?What isyo!r own view? jobs n someindust.ies 2 Freetradecreates and unemployment in othersWh ch?Why? 3 Shouldcertainlndustries be prctected? Whi.h?Why? 4 W o r ki n s m a i i g r o u p s : o Makeyourown listof argurnents in favourof globazalion, ano ar9umen15 aqarnsr. 0 Putyour st on ihe tablein fiont of you so thai everyon€ can seeit. Wa k roundthe rcomand lookat a the lists.Wl te downone or two questions that corneinto yourheadasyou I

r/, Returnto yourseaisAskyourquenrons.Everybody can

Unit 2 Page a 1 'Thecyce of boomand bun isoneoI the wondeEof capilalBm its whatSchurnpeter ca ed "crealve d€structionhSthe process by which neficent nduniesget.epacedby innovative new ones.Attemptsby poicymake6to preventths cyclelustsupport od fashioned indunresand makethe economy lessdynamcover the longterm.Uslalytheseall€rnptsto controllhemarkets larl L Agree liDisagree 2 Are you bul sh or beaishon the generalnock marketin your countryrightnow?Why?rstherea parlicLrlar s€ctorof indunry whereyou hod the oppostevlew?Why? 3 f the busnesscyce exns, wherearewe on the clockon page8 rghi now?(Thnk aboutthe folowng qlenions.was the ast nterestralemove!p or down?ls th€ nock markel rsingor falling?WhichsectoGa€ do n9 wellar the momenr?)

Unit 3 Page10 1 Whai areasof conflct arelhere kelyto be betweenan exporterand theirfolelgnagenVdistr butor? 2 W o r kn s m . l l g r c u p s i o Frst,chooseale o{ iheseproducG:smalip anic childrcns toys,herbamedcines,h g h definfton ry screen!to hangon o A Vietnamese expoderwantsto sellthesegoodsinroyolr market,andyo!?e inierestedn beingthe r agent They needyourlo.a knowledqePfepafe fof a shortpresentation themon the opportuniiesand challenqes theyface. dl Useyourown ideasand strucllre,alihouqhthe sevenbullet poinison page10 nraygiveyou a few ideasto get siarted. o Whenyou fn sh,giveyourpresentation.

Unit 4 Page12 I Staningyolr own business vsworkinqfora lalgecompany: what arcthe differcnces? Thnk of an exampeof a srnallburiness that failed(perhaps from peEonalexperence,or the experience of friends4amily/ colleagues, etc).Tellthegloupaboutthe business, and why it failed.coud t havesLrcceeded? W o r kw t h a c o e a g u e : o Youhaveeach nherited€0.5mfrcm richaunts(€1mtoral) and now wantto starta busnesstogeiherDecidewhaiyour 146

o Usethe contentspageof the busine55 p an on page22 to preparea shortprcsentation to the restof the group You wil explainyourbusinespan to them Youdon't haveto covereveryissuen the m nd map. 4r Giveyourprcsentat on and askfor questlons atthe end.

Unit 5 Pag€14 I 'TheAngloAmeicanmodelof putt ng the shareholder firn it badforthe employees, badfor the communityand badfor r Agree

.r Disagree 2 In yourcountryis therea lraditionof havng a nronq and independent Bodrdthar represenrs the nterensoJthe sharehode6andcan h re andine the CEO? 3 Whata.ethe advanlage5 dnd disadvanrages of workingfor a medium-szed fam ly-ownedbusiness, ascompared to a a.ge 4 Faslherebeena siory n the neM recentlyaboutweak corporategovernance at a padicularcornpany? Perhaps ii ledto a tinancialdisasl€r, or a corruptonscanda,or somethingese. whal do you knowabouiii?

Unit 6 Page16 I Chooseone of the sx ssueslistedunder'Geopolitics andthe wodd e.onomy'on page16 Discuss it wth somecolleag!es. Whenyou linsh, chooseanother. 2 Chooreone oi the sx replesg v€nin the 't\4anag€ment ,nd businesssection.Dscussii wilh sornecolleagues Whenyou finish,chooseanother 3 'Wecannol.educeenerqycons!mplion.No-oneis goingto voluntailyaccepta declinein the r lv ng standards. Fightng qloba warmingis useess Wete al go ng to fry.Lellhe cockroaches and ratr takeover- theywereherebeforeus . Agree

Diragree 4 Globalizaton hasgonetoo far.' - Agree Disagree

Unit 7 Pagela Lookingal the threeb.sicmanagenrent stylesmentonedon page18, wouldsaythai my own stylels (or wouldbe) ... 'Goodrnanagers areborn,not made.' , Agree - Disagree Lookat ihe f ve mainheadings under'Pelsonalqualitiet n the pe6onspecllcaion.Canyou addanotherfew itemsunder qua ties. Drawa mindmapol you own personalrnanaqement PLrtyoun€f in the m ddle,then havean nnerringof headngs lk€ the fve ln the pe6onspecilcation,andfinallyouter branches that showyoLrrqlalilies. Useyourown ideas,butfeelfreeto usethe deasin the unrtas Whenyou lin sh,showyolr mindmapto a coleaqueand

Unit 8 Page20 I Lookdi the listof sixtime managernent tips in the text on page20. Canyou add anyothert ps?Whichonesdo you 2 What isthe one ihinqthat you coulddo - nading tomorrow -to manageyourtimemoreeffcienly?

DlscuSS|oN roPlcs 3 Lookat what manageEmanageCanyou add anorheritemor two underedchmainheadng? 4 Drdwyourown persona izedmindrnapof'How lspendmy jun think time' lf possble,focuson tme at work Othelwise, .bout yourt me n genera. Whenyoufinish.showyourmindmapio a colleague it anddiscuss Unit 9 Page 22 1 Plannng s the basisof spontaneitr/.' ,:) Agree ,.) Disagree 2 Harcd Macm an, a BitishPrrneMinister, wasaskedwhat was the qreatestdifficultyhe fa.ed. He rep ed 'Events, dearboy. events.G ve an exampeirom you own life of how events yourpans. chanqed(or destrcyed) 3 Brainnorming. C osethisbook(everybody exceptone pe6onor On the board,writesectionheadings1-a {rcmthe contents pageof the business pan on page22. Everybody brainstom sub-sectonsfor eachsecton.lt sn'ta memoryt€st

Unit 10 Page 24 1 'Leaders and rnanagers arediffercnt.' .r Agree 1..IDisag.ee 2 A e a d e ra d m i € s . b e c a u s e . . . 3'Leaders haveto takedifi cult decsons.you'llneverbe a leader f you needto be kedby otherpeople.' i ) Agree ij Disagree 4 Lookagainat the barchadshowngthe reslltsof the surveyon page24. Doyou thinkthat peoplein lhe r thirlies€spondedin the sameway aspeoplen theirfifties?Do you thinkrhat rnen responded in the sameway aswomen? 5 Talkabouta recentoccason whef you successfully lnflue.ced someone(or a group).Describe how you d d lt.

Unit 11 Page25 1 f youte working,expainthe tvvoor thleebiggenrsksthat yourcompanycurrentlyfaces.f you aren'two ing,talk to a irend or familymernberwhohasajob and knowslhe t business wel. Askthemaboutthe isks ther companyfaces, and thenexpan themto the dassin the nextleslon. o anyonewho madea work-related insurance clam? 's anyonewho failedio checkthe smal prnt on a legal o anyonewho wofked n a companywherethe.ewasa case oi embezzlenrent? t youransweris 'yel to anyof thesequestions, tellthe nory I 'ln Amercapeoplea€ too quickto sueeachother' i .i Agr€e il Dkagree 4 what isyourown attitudeto isk? clve an eEmde of something ln yourlifethat you nearlydid, but decidedagainn becauset wastoo r sky.Do you haveany regretsaboutthat

unit 12 Page28 1 Didyourcountrygo throughthe samecycled€scfibed in the text:manutacturing boomin ihe mlddleof rhe lan century then dec ne,then rebirth?lf not, how andwhy was it

I VdnyWe,re'n.ounr,eshavFoqrlarg" p"a( of rFrr manulacturing baseoverrc.entyea6.ls that necessaily a bad thing? 4 Doyou knowthe cha€cterDilbertfromthe Americanco.f c stip ofthe samename?Dibertis an engineerWhat klndof peEonality and behaviour doesOilberthave?A€ englneers generally likethis?

Unit 13 Page30 I 'Faclo.iesthat makerea thingsarcthe heartof €n economy. Therefrce dndfinancidls€clo|s arciun peopesmilingdt cunome6and playingwilh compuieu.' : 1,Agree ,r Disagree 2 Doyouwork in a faciory?lf 50,drawa diaqramon the boad to showthelayout.Thenexpdinwhat happensin the different areasof ihe lactory lf nol, haveyou everbeeninsidea fa.tory?Descrlbe whatyou sawandyourgeneralimpressrons. 3 wouid you be prepared to do shftlvorkin a modernfactoryif it wasan nteresting, well'paidiob requirn9 somerki ? Why?/

Unit 14 Page32 I Howdoyouthinkthedayro'day workof a purchas ng manager5 dflerenllo the work of othermanageEin the fleld ot production andoperalion9? prccess 2 Managersnvolvedln the prccuremeni wi spenda lot of thentime negoliatn9 Whai do you knowabou negotiation strategies and tactcs? 3 Do you knowany newsstoresaboui.ompanies!s ng bribery? Or maybeyou you6ef havebeenin a 5iluatonwheresomeone you to givelherna sriall'giii'lo obia n a servce?Te exp€cted 4 rf youte wo*ing, talk aboulhow 9 obalsourcinghasaffected yourown cornpany. li you'fea student,surnmarze what you havelearntaboutthistopicon yourcourse. Unit 15 Page 34 I SCMmeansthal the manufaclurer hasto sharea ot of commercial infomationwilh !!pplielsand customers, treatng themlikepartners. Are thercanyrisksto this? 2 Compareair,sea,rcadand r.ilfrom a ogisticspo nt of vew 3 Workwith a colleagueDrawa m nd mapof ' ogisics' showing whatlhe lerrnrneanslo you.C osethis bookbeforeyoLrstart and useyourown ideas.At ihe end,comparewith anotherpat 4 Makenotesto preparea presenlat on on'Logist.s nmy company'.Uselhe headinqs and deasfrom exercse 15.4 to helpyou.Whenyou finish,giveyourp€sentation

unit 16 Page35 1 Doyou knowanythinge seaboutTP5,J I eanprodlctionor kai2enthat s not mentonedin the textT 2 Howcouldyou changethe orqanzationof youf own workpace to elimnatewaste(of t me,moneyand materals)and improve producrivlty? Drawa m nd mapto showyoLrrideas.Whenyou linish,explainyour deasto a colleague usingyo!r m nd map. lf you'rea nudent,you cando thisactv ty lor anyp.ir-t rnelob

2 Doesyourcountryhavea 'RustBelt'7Whatis fe ike in that areanow?ls therca nrategylo rcdevelop the a.ea?

14

DtscussroN ToPtcs Unit 17 Pag€38 1 Whatdoesthe word'qualty' meanto you?Brainno.masmany ldeasaspossbleandwritethemon the boad. 2 What eke do you knowabolt IQM beyondwhat is mentonedln the text? 3 Doesyourown organization haveprocedurcs to checkqudlity? lf 50,descibethem. 4'You getwhat you payfor': is thisalwarstrue?Thinkof sorne examples for bothsideso{ the argument. Heres an ideaio get you started: A packetof hgh price,brand-name cereals iesittingon a supermarket shelf Nextto it on the 5helfisa packetof the superma*et's own-labdbrand,selingdt a lowerprice.The contentsarc identica- the supermarket boughtthe cereals ircm the manufacturer and €packagedthem. Unit 18 Page 40 1 Thef rst paragraph of the text on paq€40 suqqertsin a hurnorous way that salespeopleand marketingpeople sometimes don'tva ue eachothefswork.In yourexpe.ience, is ih s true? 2 Brainnorme ther 'Whatqualiliesdoesa saletpe6onneed?oi 'Modernsalesrechniquel. Cloreyourbookbefo€ you stan. (t isnt a rnemoryexercse.) 3 Canyou thinkof anysituations whee a 'had sell'mighl be 4 Thinkca€fullyaboutthe an timethat a salesperson soldyou somethng. Howdid lhey d scoveryolf needs?Howdid they presentthencaseTHowdd theyhande yourobjection!? Are thereany specialtechnquesthat theyusedbut rhatyou werc unawareof at the t me? Unit 19 Page 42 ' A welfl.own tloga' 'o c-stome.sea,cers 'U.derpromise and oveFdelivef. Wh.t doesit mean?Do you agrcewith it? 2 Haveyou everheardof a 'ChiefClstomefseruice Office/? Why does'customer service'haveslch a low priorityinside 3 Tella storyfrcm yourown experience aboulan exampleof paftclladygoodor particulady badcunomerseruice. Whatare I Worl . s1 all Sro-ps Era,.srorm d..('or.usron.r $rvre 'Lttle thingsthat rnakea big difference' underthe headings: and'Don'tforgetyourexilt ng customers'. (lt isn'ta Closethe bookwhileyou do the brainstorming. yourideaswlth the class. Whenyou fnish, discuss

Unit 20 Page 44 Eachpe6onchoosea productthatyou havewith youtoday (es in a baq or an objectin the.oom).Foreachproduct, d scussthe targetmarket. Do the fo owing: o On the board.drawthe four headings: Product,Place, Promotion and Prce. (a sinqleword . Eachstudentchooseone item of vocabulary phrase) or. fo' eachheadingthat you thinkyoufcolleaEres won't know Youcanusea bilingualdi.tionaryto h€lpyou.

148

ra Go up tothe boad andwite yourvocabuarytemsunder the cor|ectheadings. i Wheneveryone hasfinished,9o roundthe groupand explaindllthe wods. 3'Marketing isjunthele to rnakeus buythingswe don't need.' .) Agree a Disasree 4 Discuss how ma*etingis different1osaes.

Unit 21 Page 46 1 Lookagan at the thirtyadjectives descbingfeaturesin exercise 21.5.How manyotherscanyouthinkof? Brannonr ideason the boa.d.lqnorceasy.obviouswods suchds'expensve,'fast', 2 Thinkof an €xampleof a prcduclwith poo y designed packagingHowwouldyou improveit? 3 Eachmemberof rhe groupchooseone perconal item that you havewith you today Choos€something that hasa nrong ma&eting(ampaignbehindit. Takea few minutesto prcpare, thendescribe to ihe group: . the productsfunctionabenefils . the produclSpsycholog cal b€nefts . the brandimage o why you chosethit particular model( I the productis partof producb) a lineof . whetheryou thinkthe maAetng campagn nfluenced your

Unit 22 Page 4a I Whaiareihekeyelements of rnerchandis ng(howprcducis a€ arranged anddisplayed lnside a nore)? 2 Howis technoiogy changingthe faceo{ retailing? G ve some exampesfiom yourpeBonalexperience 3 Chooseh^/oor threeretailers that all sell n a s rnilarmarket. Dilcussihe d fferences bebaeenthem. 4 Di€ct markeing (calaLogues, ma shoB,ry shoppingchannels, adsin the presswith a toll-f€e number)s oiten ignoredn discussions aboutmarketng. Howdoesthe dstibuton channe atiectprcduct.promotionand pri.e? Unit 23 Page 50 1 lt3 in.€asinglydifi criltto reachcustomers thfoughadverts ng. Meda channesarc becomingevermorediverse and l€gmented.what is the advertising indunrydoingto meetthis 2 'Thebetteran advertisement s, the morepeoplerernember the advertisement andthe lesstheyremember the product.'Can you thinkof an exampe of th s?what arethe mplicatons a)for the advertising agency, and b) forth€ clientcompany? I work wilh a colleague. [/ake a mindmapwith ihe word 'P.omotion'inthe middle.Close ths bookbeforcyo! start (li isnl a memoryexer.se.)Whenyou f nish,walk around and lookat otherpeopleSmindmap' 4 Do yolj agreewlth what ir wriiten n everybox in exercise 23.5?

Unit 24 Page 52 1 ls it true lhat rnarketers talk lessaboutpricethan about ptoduct,disnibutionor prcmolion?f so,why do you thinkit 2 lt you work in the marketinq/sales apa, describe how pricesare setrn yourown .ompany.

TOPICS DtsCUSSTON 3 EachpeEonchoosean ltemthat you havewith you now (e9 in youf baq).t hasto be one whe€ you rememberthe exactprice . Showlt to yourcolleagues. Fi6t let themtry to guessthe a Saywhat the pricewas. . 5a) 4LFrhe,ar rhe lrnF ro . rroughrlh6 w.s erpensive, reasonaD e or cneap. a saythe absolutemaxmumthat you wouldhavepad ior ihis a Discuss, froma marketingpoLntof view whetherthis tem was pnceocoffecry.

Unit 25 Page 54 I Naveyou evertakenpart in ma*el rcsearch eitheras your Describe a poientialcunomeror asa researcher? Workwith a colleaguePrcduce a mindmap: a lf you'rework ng, useideaslmm yourcompanyand write 'Our marketng strategy'n the centre. . lf you'rea nudent,useideasyou've nudiedon yourcourse and wrte'Elementsof a marketingnrategy in ihe cent€. r Whenyou finish,wa k aroundand ook at oth€rp€ople3 mindrnap! Discuss them. Presentation.'New PrcductDevelopment'. Workwth a colea9ue: . lhink of an id€afor a completely new product.Youte goinq to prcsentthe conceptto yourcoll€aglet- makesome

gvingthepresentaUon, whi.hperson willtalk Before decide - youcan points. presentation whch willbe about lt a team change thepresenter onceor severa times. giveyourpresentalion. Whenyou'reready, Youfcolleagr.ies shouldlislencaretuy,lakenotes, thenaskpractical Unii 26 Page 56 1 Followthese nstructonr: Studythe text on page56 one moret me.ln a moment vou re oo'q to tl to wlle dow^ re eemert5of a'Incone pieceof paperNo figu€s arene€ded statementon a separate just the headings. You'Ldo ihs wlth the helpol a pariner. C oseih s booknow andnart. 2 Yourun a chainol sma cotfe€r'snack ba6 in yourcouniry (Yournearestcompetitoris Starbucks.) Lan q'ranei both revenueand costswercabovebr.idgei.Ihsbalanced out, so thatthe operatingprcfitwasin linewith the budg€tedfigu@ Brainnomaemanyrcaronslor ihs vaian.eas possible.

Unit 27 Page 58 1 Fo ow theseinnructions: a Studythe box'Whatcana balance sheetshow?'at the bottomoi page58 one moreiime. Writedownon a separalepieceof paperthese words. hquidirl, leverage,baak value andprafitabiliry. Workingwth a padner,writea shortparagaphthat expalnseachof thesecon.epb.c oseyourbookbefoGyou beginl lsthereanyonen the groupwho knowsaboutac.ounbof Investing? Askthemthis:'You'F thinki.g aboutinveningin a company. but canonlylookat one flnancialdocument,either the incomestaternent orthe balanceshe€t;whichonewould you choose,andwhy?'

unit 28 Page 50 1 lsthereanyonein the groupwho knowsaboutaccounting or investing? Askthemto explainwhy the studyof a companys cashflow is important,and in partkuarhow t showethings and that cannotbe seeniustfrcm ihe P&L(incomestat€ment) 2 Howdoyou manaqeyourown peEonacashfow? Do you havea negativebankbalanceatthe endof the month? aTways Howcouldyou manageyourcashbetter?

Unit 29 Pag€ 62 1 Lookagainat the nory ol Manuelain exercBe 29.5.Whatcould she(andthe otherplaye6)havedoned ff€renily? 2 Workin pairs(A and B): . Backgrcund. StudentAand StudentI work in the accoLrnts department!of two differentcompaniesArcceveda arge invoicefiom B an month,but st ll hasn'tp€id t (d!e 10A's own internalcash flow probems). . Pe6onalize. A and B now prcparea few moredetaik logelher.Whatislhe busn€ssactivty of the two companies? Whalwasthe invokeior? Howmuchwat ilfor? o Roleplay.Sil back1oback.SludentB rnakea telephonecall to StudentA abourthe unpaidnvoice.Trylo negotate a sertlemenr that is goodfor bothsides.

Unit 30 Page 64 1 Followtheseinnructions: o studythe telt, g.aphsand exercseson page54-55 one

Wite on theboadthewords'breakeven analysl, 'operating Leverage' and'contrlbution rnargin'. to Bs workin pais,A andB.Coseyourbooks. A5explain w' ttenon th€boa'd Bsshoud lisle' rl'errreeco.ceprs questions. askoccasional andhelpif necessary . Keepthesamercles,burworkw th a newp:rtner.NowBs haveyolr turnto explain whileAs isten. 2 lf you'reworking,explainhow you analyzeprclitab ty n yourcompany. lf you'€ a siudenl,descrbeanyotherareasol managemeni a.countingthat you'vestudied

Unit 31 Page 66 I 'Financial marketshaveI ttle to do with the realworld.li'! jun yuppesin frontof computerscreens overpaid chasingthe latest financialbubble.' ,j agree -- Diragree Lookaqan at the tabl€of playeu n ihe ma*ei on page66 Cdnyou add anyextrainformation abolt anyof theseplayers? yo!r job. l Do youwork in lhe li.ancialmarkeis? Describe Thebondmarketandforeiqnexchanqe marketaremuchless well knownrhanthe srockrna*ei bul th€ amountot rnoney tradedon themisfar larger.Canyou explainwhy theyget so litle publicand meda attention?

Unit 32 Pag€68 Doyou followihe stockmafket?what is happenng at the moment?Canyo! €xplainthis? Do you personally own anyrtocksor funds?Whydld you choosethem?Howoftendo you checkthek prce?Whenw lf you had€10,000to inven n lust one stock,whichonewou d

14

DlscusstoNToPtcs Unit 33 Page 70 Unit 37 Page 78 yourcompanys I Describe prccedure.ls recruitment it successful? 1 Producea SWOTanalysis for a companythat you know lt could Howcouldit be improved? 2 Wofk on yourcV (resurne) for homework-ifyou needto.In a Putthe CVson the wall rcundthe room.(Altematively, lay thernout on the desk.) . Go rcundand lookat otherpeoplesCVs.Youmaybe able to get somenew ideas. . Go backto yourdeskandwork with a pa(ne. Readea€h othercCVscarefully. Discuss themtoqether. . lf necessary makeanychanges to yoLr.CV lfyou don't wantto wo* on yourown CV or you think it istoo pe6onal,thensimplyhelpothe.peopleby rcadingthet CVs andaskng questons.

Unil 34 Page 72 I Howmportant youworkina creative, s pay? Would elsfying job if thepaywasn'tverygoodT 2 Whatdo youthinkaboutpedormance-.elated pay? 3 Areyoupaidwhatyou?eworth?lmagine thatyolle talking to yourboss, tryingto persuade themto payyoumore-(Youve jo beeninvited to n another company ro youarcspeatang from a position of si€ngth.)Explain whytheyshouldpayyoumore. Unit 35 Page 74 1 Lookthrcughalltheworkplace issuer on page74.Areanyof theselhe sLrbject of discussion in yourworkplace? 2 Lookatthefolowinglistof workplace issLres. Whichonesare moreserioLrs andcouldeadto dismissal? a arriving lateandleaving €ary a beingdrunkat work a bLrllying andharatsment a oamage 10prcpefty . failingto followhealthandsafevprocedures . personarappearance a personal useof thelnternet oLrtside of renperiods Choose oneol theissues. Wfitea short,imaginary diatogue benee^lê nanager ald enployee whererh€issue is discussed for thefirsitime. 3 Doyouworkin HR,or doyouknowanyone whodoes? Whi.h partsoi thejob,besdesrec.uhment. takeupthemosttime? Unit 36 Page 76 1 Pract sespeaking abouiyou backqround andcare€r: . Wtirea shor.c.pl - '" ten on page/6 w lgve yousome deas. Whenyoutereadyrcadit aloudto yourcolleagues. Yourco eagues shouldlisten. makea fewnotes. andask quest|ons at theend. . n thenextclass, lookal yourscripr againbriefly, then put t away.Nowworkwltha colleague. your andexplain backsround andcareer asa freespeakjnq exercis€. Your pairner quenions you shouldaskclarlfication andencourage to givemoredetaik.

150

be yourown,or one that you'vestudiedasa nudent.Youcan usethetableon page78 for ideas,but fee fre€to include Whenyou iinish,prcsenlyourSWOTanalysis to the groupand thenaskfor questions 2 Writea companyprcsentation for a companythat you know It couldbe you own, or on€that you'venudiedasa nudent Youcanu!€ the iext on paqe78 and exercise 37.3for ideas. but feelfleeto includeotherarca' Whenyoufinilh, €ad youf text to the groupand thenaskfor

Unit 38 Page 80 I PBctis€ speaking abolt yourjob: . Wile d shorls(riot- lheled o. pdge80 willgiveyoLio.re ideas. lvhenyou?eready, teadit aloudio yourcoleagues. Yourcolleagues shouldlist€n,makea fewnores, andask quenions al theend. a Inthenextclass,look atyourscriptagainbrefly,thenput t away.Nowwo* witha colleague, yourjobasa andexplain treespeaking exercise. Yourcoleague shoLJld askclarification questions youto givemoredetais. andencourage 2 lf youdon'thavea job,or asanaddiionalactivty,dooneol thefollowing: . Interview a friendor familymember andaskthemabout theirjob.Tellyour colleagues n thenextclass. . Thinkof someone youknowandroleplaythem,descfbing thenjob Remenbe. ro say - no|he o' sle

Writing tasks Unit 45 Page 94 1 Youworkfor an internationaphamaceuticacompanywitha ben{ellingheartdrug.You'€ partof an international team, prepainga reporton compe|tors'prcductswoddwide. a Wrltean emailto a colleague in lapan,AkikoYamada (a woman).Wite 4G-50words. o Givethe reasonforwrit ng. in iapan{ma*er o Request informaton aboutihe compelitors sharc,advertis ng). 6 otfer to provideinformation aboulyourown market. 2 Personalizaton. Wrte two ema s sirnilarto onesthat you have to writein yourown real-life lob Usethe tabe on page94 to

Unit 46 Page 96 Yo'r've 1 You'rethe financednectorof an ntemational company. just f n shedthe cornpany accounbJorlan yearand the results wereverygood.Howeverthe oltlook for nextyearlooksmorc cha enging.Wite an emaI to yourcolleagues, le ing themthe news.Write40-50 words. o G ve the reasonfor witing. o G ve the goodnewsabod lan yearThankeveryone. (| G ve the bad newsaboutnextyear. 2 Pe6onazaiion.W te two emailssim ar to onesfiai you have to wrlte n yourown €al'lifejob. Usethe tableon page96 to

Unit 47 Page 98 Fo ow theseinnructions: o Lookone moret rneat emais1 and 2 on page98, and at the two ern.ilsin exercke47.4.Thenworkwith a
Unit 48 Pag€ 100 1 Followthese nstructons: o Lookone moretime at emaik2 and 3 on page100,and at the ema s in exercise 48.3and48.4 Thenwolk wiih a colleague to createa sirnilarbusiness situation: What Wdud / sewiceis the custametcomplainingabout? Why is the rustanet conplaining? what rcp|yis the suppliergoing to give? writea compaint basedon the o NoWworking ndividually, situationyo! c.eated.Notethatyou and yourcolleaguewill be in the samerole,writ ng. slmilaremail. o when youfinish,exchange em.il! andwritea replyto your complainl.Againyou will bolh be n the same colLeague! o Whenyou f nish,compareyouremails.

write a simllarpairof emals basedon on€s 2 Pe6onalization thatyou haveto wite n yourrea-lifejob.Useihe tabe on page100to helpyoLl

Unit 49 Page 102 1 work with a colleague. Youwillexchangeema s, nvitingeach otherto visit.Forsimplicty,keepthe tlvo situatonsseparate . Beforeyou begin.look one moretime at the emailson page102. a Nowwite lhe followngshodernails: a) As host,inviteyourcoleagueto vst you.Givethe finishedemaI ro yolr colleague Acceptthe b) At guest,replyto the €mailyouiun rcceived. invilation.cive the f nishedemailto your.olleague c) As hon, suggenan itineraryOhi5couldincude some localsiqhts€€ing.) Givethe finshedemailtoyour d) As glest, rcplyto the ema yoLrlust received.nclude detdilsolyo!r llight.hoie, etc. Givethe finishedernailto yourcoreague e) as hon, conlirrneverythingGivethe finishedema to yourco reague. a when you tinsh, compareyoLrremails. 2 Personali2ation. Writeone or two rimllaremais basedon ones that you haveto wriie in yourrcal-lifejob.Youcan be the host, Useihe tab e the guen,or takeboih rolesfor diflercnternails. on page102to helpyou

Unit 54 Page 112 ( n a magazine, or 1 Findanarticle newspaper aboulbusiness lt hasto beonelhat online) wittenin yourownlanguage. o' r'end.a_dtlat conta'sal e.st d€scdb€s a developne'l Wile fouror fivesentences in Engish descrbng thetrend.Try to usea goodvariety of Language frorntheunt Youcan nvenl n prevous addilional lntormalion, for €xampLe whathappened a trend 2 choos€a rcallife,g€neral-interest topicthatshows prces Yo! rnaychoose someth ng lkehouse overseveraly€a6. in yourcou.tryor someth ngpeEon.lIiketimespentdolng graph- the Drawanappfoximate sports / learning Enqlish. Labethex andY axes. exactd€taikdonl rnatter. ng movemenb in theg6ph.Try Writea t€wsentences describ good iromtheunt. io usea vaietyof language

WRITINGTASKS

Unit 55 Page'l14 1 Studythe graphsbeow Youmaywishto inventmoreconexr, ior examplethe industrysectorand ihe nameof the company.

Sale5 (000/ month)by product line

Q1

Q2

Q3

Q4

MarketShare Lastyeer

lom@np-v

lconpetito,x

Thls year

lcome€tiiof Y Eorhe6

wrte a lhort prcsentation extractwhereyou descfibe and analyze the vends Tryio usea soodvaietyof languagefiom units54 and 55 li you'reworknq n cass,readyourpresenraiion ro your co eagueswhenyou finish.Askfor questions at the end. Peuonalization. Repeatthe exer.ise, bui thistime drawa few graphstromyourrea life.Thesecouldbe: a Business trends.Perhaps saesor prolts or prcdlcrion volumesior v.riousproduct nes,or maket shareof your cornpany and itl competilors, of any KPh(keype.fomance indcators)that you dealwith. . Waysthat you useyourtirne.Chooseeithera work context (perhaps pie.hartscomparing timespenton variols activilies hn yearand thisyear),or a domesric contexr (perhaps a linegraphshowng tlme spentwith childrenon dlfierentdaysof the week,or time rpentdoingtportsover Drawthe graphsand abelthe X andY axes.Thenw.it€ a tew paraqEphs, descrblnqand anayzinqthe tlends.

152

Interviews 1 Interview with a private equity investor Exercises 1 Guessthe rnitsingwords (somelettershaveb€en givento helpyou). I Whena prvateequty firm buysa targetcompany,lt uses a newyjormedcompany calledan 'SPV'(Specia Purpose Vehlce).Asan example, halithe moneythe SPVneeds (capltal m ght comefromeq provided bythe new ownersandihe existing sharehoders) andhaf mightcome (abank o.n that hasto be r€paid). 2 AfterbLryng the targetcompany, th€ prvateequty tirm reslructures t Thscannvoveab dup (makrng th€ 'b (mak companyarger)or a ng lt smdler) k down' 3 Afterrenructlrrinq, the privateequityfirrnneedsan e t srraregy. 4 Th€re aremanyotherp sinvovednthebuyout process, includnq a rs,t consultants andbusness consuLtrnq compan es 2 if 16 Now listento the interviewand rh€(k your 3 Listenagainwith your eyesclosed.Thenlistena third time while you follow the script(page157). 4 Discuss any inler€stingissueswith somecolleaguer.

Glossary due dtl,ger.e investgation inlo the delaihof a potential

4 Discuss anyinteresting is5ues with somecolleagues. Glossary .apitalgain a ptaIlIrcn mo.ey you havenvested .o//ate|.l prcpertyor othergoodsthat yo! promiseio giveto ihe bankif you cannotrepaya lorn rctufti'h rcpata.tl mprovea buildingby ceaningand paintng 1 elc.

3 Interview with a management trainee Exer
tom ic.at h fromihe beglnnn9 ,PO nitia pub c oflerng Gellingshareson rhe nock markellor leveragedbuy-out brytnga.ompanywith a sma amountof l/ourown moneyand a argebankloan

2 Interview with an entrepreneur Exercise9 1 Underline the wordsin italicsthat youthinkdescribe the profileot a typical€ntr€preneur. 1 Theycomefrompoor/ '.h lamlies. 2 Ihey arcisk-takers/ careful. 3 Ihey anlyttustthemselves I havegoad)nstin(ts abautather 4 Theyqo / don't9oto lniversity. 5 They ke to /eadfrom the tap / wark alongsideenployees. 6 lhe\ oerbo.edqu^(4 t dp ppia.t:ann\ ha pnja, fin ishing prcjectspraperly. 1 Ihey functianwell wakinq on then awn / needa goad teambehtndthem 8 Theyoftenhavedt#icuif/ stab/efam y backgrounds. 2 S 17 Now listento th6 intervi€wand seewhether this particularentrepreneurmatchesyour idear. 3 list€n againwith your eyesclosed.Thenlislena third time while you follow the script(page158).

clossary asressment . whichyoLrmakea lldgementabouta a process arrersorsomeone whodecides hasdoneIn howwellsomeone pttd tryto sellsomething bysaynq howgoodit i5 ptionof a partcularsiluaion w th a tcera.toa wr ltendescr p L r . e . o n p r d d e . \ o l e b d . r q , o - d - f o r â l , o n . o . e th ngs that may happen et.

4 Interview with a supply chain manager Exercises 1 Decidewhetherthesettatementsar€tru€ O) or fahe (F). 1 Thesupply chainis:rawmaterias supplier frstter -ro,lufd| . rrg , o".pan/ \upohe i€.o1dI er Lppe' 2 Manymodernmanufacrufers arerca yjusi atsemblers T/ F 3 Lts impor'tant for the manufacturer to ke€pcommerc a (suchasdemdndforecasttconldentia,andnot nformation lo sharetoo muchnformation wth suppers.T / F 4 n modernrnanlfactur ng producrion s 'pu led'by rea customer orders,ratherthanbeng'pushed'byforecasts.

153

INTERVIEWS 2 tf 19 Now listento the interviewand checkyour

5 Interview with a marketing director Exetcises

3 Listenagainwith your eyesdosed.Thenlistena thid time whil€ you follow the scipt (page160).

1 Youar€ going to hearan interviewwith the marketing directorof an agrochemical company.Whichideado you think he will discussundereachheadingbelow,a or b?

4 Discussany interestingissueswith somecolleagu€s. Glossary

a gen€tcally modiliedcrcpsihat respond wellto chemlcals b runninga focusgroupof larm€ls

.rustera sma groupof thingslhat areverycloseto eachother €conom,res of s€i€ a rcductionin the costof producng an ndlvidla un t, resut ng fromdn ncreasen the overall

a generous discounts for long'termcustomere for the chemical, b payrng norwith money,but with crops

Jurur'r,me a nrategyfor invenlorymanagement in which raw materas, partsand components arede veredirom the 5!ppler irnrnediatey beforetheyareneeded t a*Dg fo owng the progress ol

provders . workingclosely wth th rd'partyoqlstics b differentd nr buton channesfor big,mediumandsrnall 9rowers

5 Interview with a sales manager Exercis€s t Makeshort notesin answerto th€ tollowing

a usingbilboadsat the sideof roddsin rura dreas b makinqa:D nroviewith lying saucers andd ens 2 F 21 Now lislento the interviewand .h€ckyour

1 What ! a 'keyaccountmanager'? 2 Weallhavean deaof thetypcalwork oi a sales consu tant but how s thisworkdfie.entif it is in the B2B(businessto-business)s€ctor? 3 Wlth a 'coldcal', how do yor.r stopthe otherpersonpulting downthe phonewth n fiveseconds? 4 A I saespeope facethe standard objection thatthe c ent a readyworkswith anothercorapany, or thatanother company isofferinga betterprice Howcanyoudealwith

3 lirten againwith your eyes(losed.Thenlistena thhd tine while you follow the script(page161).

5 Insidea company, whatotherdepa.tment rnightcomeinto conf ct wth SalesT

Exercisei I Thetable below showshow the Iinan
2 fl 20 Now lirten to the interviewand tind out now the salesmanagerdiscuss€s the sameissues.

4 Dis(ussany intercstingissueswith somecoll€agu65. Glossary crcpa plantgrownfor food,usualyon a farm

7 Interview with a finance director

3 Listenagainwith your eyesclosed.Thenliiten a lhird time while you lollow the script(page160). 4 Discussany intereiing issuelwith somecolleagues.

Treasurer a(counlsp.yabe

Glossary cold.a/ an !nexpected telephone callbysomeone tryingro whaito do asa situatlon deveLops, ?/ay it by eat'decide ratherthanplannngwhattodo ProsPectspotentiad ent5 testimonia, a wrttenslatemeni abolt howwellape6onor organizaton hasdone,provided bysomeone whohashad previous contact wilhtlrem

contactwith banks(eg '?

(income prepaf Chief ingaccounts statement, ' o Accounting statement, balance 5 preparing Officer taxplannng Financial controller

Director

151

.. {acl ty)

nternalauditing budg€tnq (6 and a.tu. bLrdqet) f n a n c i .p l a n n i n g

)

betweenplanned

sLrpervis ng the ihreepeopleabove takingissues to the seniormanagement tearn 7..... corporate .-..... ... wolk ng with externa f nancinq of largeprol€cts

IiII€RVIET5

2 S 22 Now listento the intediew and checkyour 3 Listenagainwith your eyesclos€d.Thenlistena thitd time while you follow the script(page162), 4 Discuss any int€restingbsue5with somecolleagues. Glossary coryohte govenance rhe rul€sand practicesthat control a and cornpany, especalythe relatonshpbetlveenmanagement

overdraft; aqPement with the bankthal allowsYouto opeEtewth a negatl

8 lnterview with a human resources director Exercises 1 Youare going to hearan interviewwith an HR directorwho works in a Eurcoeanofficeof an Ameri(an multinational.Predictthe answeEto the questions I n rhe Eufooean comexrrhe€ s somedrtfcultvIn mplementing the HRpo iq fromheadofficein the U5. Whichtwo areasbelowneedto be adaptedfor local condrtions? a tra ningandcoaching c equa opportunitres b dealingwith poor d healthandsafety by the 2 Whch of thesetwo optionsdo rnotheEemployed prefer? company a a ffeeklndergaTren b morefLexblehou6 3 Whichone arcaof tfalning]sverypopularat the moment? ng c iniluencing skills a teambuild language d conflict management b English 2 S 23 Now listento the interviewand checkyour 3 Listenagainwith your eyesclosed.Thenlistena third time while you follow the s
Glossary apprairalan nteruew (oftenannual)betweena manaserand perfomance, wheretheydiscusihe employee's I an employee trainingneedsandfuturecareerpath .omperrat o, saary and benefits equal oppodunitiet whe@everyonehasthe samework oftheir opporiunilesand no-oneislleatedunfairlybecause gerdel the fad of beingeithermaleof female

155

Listeningscripts Listen and repeat ex€rcises $ rractrI Exer
S rrack2 Exercise 40,5 Justbearwith me for a monent, Right, etry to keep you waiting. Sorry she s out of the officc rhis aftemoon. Whafs it in comectionwith? Can you askhim to call me b.ck? would you likdo leave a me$a8e? Lct ne j6t 8et a pen. OK. Co ahead. Is that i' asin ltaly,or 'e as in E8ypt? Let he read that back to you, I Il nake suE he Setsthe ne$age.

$ lrack 3 Exercise41.6 Canyousp€akmoreslowl, plea*? Sorr l didnt carchthat, Did you say fffty/ five-zerc? Whatexa.tlydo you meanby 'shortterm,? kt mejusrchel tharI undeBtand. CanI juotto overthaiatain? Canyou speakup a bit? Its a reallybad!ine.Youkeepbrcaking up. My batteryis very low. Wegot cut ofi Sorryaboutthat. S Track4 Exercise42.4 Whartime would be goodfor you? Whattime areyou tni4king oi? How aboutFebtuaryihe ninth? Could we mle it the folowing day irutead? Would eleven-thity suit you? I d pefer a bir l.ter if you doh r nind. l ll sendd emailto confim the d*ails. Unfo.t$ately I cet mal
S rracks Exercise 43.6

- _,

We .eceived the oder ihis moning bui you only shipp€d BOpiG. There s€emsro be a problem wjth the invoice. I do apolo8ize. I n sN we cm sort out. What exactly is rhe prcblem? I ree.l to ask you a few quicl qusrim. Cm you leave it with me? I ll look into it md ger back to )'ou rhi. aJtemmn.

I n€ed to che.t at ihi5 4d dd s€ewhafs 8oin8 on, I I sd a replacement immediately by special delivoy. T m erry aSainfor dy inconrenim.e dE ras rau\eo

O Track6 Exerdse51.5 Before I b€gin, I d lite to thar* lrnqoise for inviting me here roday. On behalf of BCC Intmational I'd like ro welcome you here ro ou tf,t me start by inrroducing hyselJ. ItE aim of thG preseniation is to give you an overis

oI ou

I'[ speak for aboui rhirry minutes. I've divided my talt into folr main sections. Iftouh.ve.n) qJstiotu, ple.se fel fFe ro hremp(. Ir you hav€ any qustions, I'll be happy to mswer thm ar the sd. OK, lefs be8h wnh ihjs fist slide.

S rra.k 7 Exerdse 52.5 OK. tat s move on to rhe next point, I ll come bacl to this in a momenr, It miEhrbe u*Id to Eivea little backS@undhere. Llt me explain with a coh@te example. I thinl< thee aF thFe quetions to focus on. What is the reason lor this? The leason is rhe desi8n. As you can se on this next slids rhe trend is up, I d like to hiShlighfiwo lhjn8s on this chart. AE there dy quesrioE so far? Does anyone have any comments?

S lrack 8 Exercise53.4 Ri8ht,that brings meto theend ot my presentation. Justto suhmarizethenain pointsagain.., Tl'ank you all for .oning. I hopeit s beenusetul. I ve tot sne hedouts here.I'U pa$ lhem lound, Heel my enail in ca* you want to tei in touch, Do you haveany qu$tioB? Y6, the genrlemanafthe ba.k, Thats a very Soodpoint. Thats m interestingqu6rion. Whars your own opinion? I thinl thafs outsidethe*ope of this presentation. OK, I $int there'stim€ for onelastqu6tioh. Q Track 9 Exerdse 57.6 l DEt do you rhiil, Chris? WtDt I'm tryinE to ey is we hav€no oihef option. It Rs to me that we luve no ott€r oprion. Basicaly,we haveto lmk at brandinAin a new way, lbm my point oI view n's worth it. I totaly a8@ with you. I a8R up to a point, but I cm seeoneor two prcblems, Dd1 you rhink this is goinSto be very exp@ive? Really?Do you thbl so? I'n not sos@ aboutthat.

S Track10 Exercise 58.5 Sorry, I don t udeBttud - .d you €ylain that again? Cm you go over thai a8ain, plea*? r I mdcrand you core.ilt you'r in favou of oFrim B. ls that nEht? How did you arive ai th€ fig!rc of 1.5 milli@ effi?

LISTENII\IG SCRIP]S Could you be a little more sp
S rrack11 Exerdse 59.5 There ae severalways we could deal with this. Lefs l@k at the prs and cons. On the one hand, it would eve time. But on the other hand, it would In g€neFl I agree, althotrgh the cost may be too ligh, Can I make a suSgesrion?l$iead of waitin6, why dont we do lft s think carcfuly about the impli.atiotu of that. Yes,I thinl that would work eally well. I cd * one or two prcblems with that. 'Ihat so6ds like a Sood idea, blt I don t thi.k it would work in I think the best way foNard is to carry oui a sun ey,

lf rrack12 Exerdse 50.5 Antonio, this is you. field. What do you think? Mile, after we re heard from Ros can we have you. views? One at a time, please.lirst MiFlla, ths Claude. Ill comeback to you in a moment,Nikola. Pelhapswe could getback lo th€ main point? I think we sbould move on now We ned to look at this in moredetail. Whai other ways are thereto approachthis? Can we go round ihe tableto se if everyoneagEes? O(,let's to over what we've discussede fai

S lrack 13 Exerci5e 61.4 OK,let's get down to buoiness.What eractly do vou ned? Ior us, the prioritie6 ar€ qualiry and eliability. When you say leliability', what do you mean? How nexible can you be on price? What do you have in mind? What sort of quantity are you thinking of? What kind oftimescalearewe looklng at? what sort of figlre a.e we talkinS about? what kind of glarantee cd you give 6? Can I suggest oother way oI movin8 fotrad?

S rra* 1a Exercise 62.5 We'd be pr€pared to offe. better terns of paymdt. But orny if you inaeased your order Wodd you be willing to a.cept a ompomjse? OK we cfl agre to that, Ihat would be very diffidlt for us. I*fs just take a ooment to eview what we ve dsG*d. I think thats as far as we (n 80 at ihis sia8e. ! don t have the aurhorily to nuke thai d{ision by my*lJ. r you .m a6ree lo thal we cm d@ tlE d€al to
S rrack15 Exerdse 53.5 That might be quite expsive Codd I j6i intenpi lor a mommt? Thee e@ to be a problem with ihe invoi.e. It Km to me that you de being a little opnmistic Actualy, this line is not very prcfitable. That dGn t give us very mlch t1me. To b€ honest, that wolld be very difiiculr. Woul.ln't it be easis to ship via Hambur6? We were thiiking ofshethinS arcud 5'/". I lndsstood you had rh* prcducts in stocl.

lnterviews S rra.k 15 I Interview with a private equity investor PEI = Private €quity investo. INTERVIEWIR I d likelot to .rpllin i little |bort Priute eq,itv. I Edd nboutit in tte fnnnckt tnss, btt I'@ n@t MIU lntlenttud it. PEI Sure. The busine$ or , private equi9 .omPany ]s to invest money in two very sp
157

LISTEIIING SCRIPTS INTER\,aIEWER yat sv 'flnniq nonell!', btt ol core priute eqrity is .antnMsial tuca$e tufletin6 tlEre are bi8 dun86 dunng

ral 6tate companis in the past, but 6 soon as I felt that I'd lemed sough, I left. I lamched my own b$ine$. Thar was about two yea6 ago, Itt always been my dree.

PEI Sometimes there ae, sometimes not. The cds wher there m big chmges de when we buy a public compmy list€d on a stek market, then de lisi n ed rstructu.e it md tho FlGt it after we've nad€ it more profilable. INTIRVTEWER Whit raprns duriry nt r6brctrn,*? PEI comFrim"i wedoa bLild up l}dt mpft buyinEoLher smaller companies and nergin8 them with the ori8inal tffget comPmy to make a new,ldger more prcniable compml Oiher times we do a'break down', That mem selin8 non{ore ets, cuttinS costs,making the business mole eIficienr, dd Seneraly refocusinS&e business. TNTERVMER Cr!th1&costsdtd l.oki'tg fot effciercy tins tlnl sotnePeoPLeill la{ thcn iobs. PEI Our ar8lnent is ttEt we make the whole brsinessmore riable in the long rerm. People would have lost thcn jobs anlaay iI we hadnl madc the nece$ary .hm8es soone. lather thm later We tuke the comp.ny pofitable.

INTERVIEWER

INTERVIEWER Ak.yar r@1tio'1ed ftlistint an th. stack,n*et nsan option dftd theftsh11ctutiig. wlnt other erit shdt.SiasdoWu lsrel PEI Weli, often the company was neler lisied in the fiFt pla.e, it was alwaysin priv.tc hands,and so then we do an IPO-a listing for rhe firsi tine, But thc other erit strategiesopen to us arc fiGrly to sell to a much largercohpany that is looldngio dilesify or cxp.nd - tof them ii sjusta nomal .cquisition - or Kondly to sell to anorherprivaie equitv comp.ny.Tlcr is. kond buy{ut. That'squ e coboon. INTERVIEWER OK, I thh'k it s ,t1.h .lcan ,lo|u tuhat is htaala.l. h\nllltdppotrlg nt tt| lfuetaJthcotutl.Rhipal tlt. cor\ar! - br:/ttg il, rcsttr.hlthlg it, thdl selli'I il. Thcp@pk rt t]E bottan niiht jt6l cnry ai thch jobs as nonnot,t'1aMt ol t,hdt's happotitg, ot rtiittl ltddon! fud thot th.n olfc$ aE doytl, or t]nt ttry @ hdrslcned to otatttt jab, at tltdt tltty u lost tu job co 'tlteEty - a lot Ea\o"s D,tsideoJthenconttulotu d.$tnndh&. PEI That'sritht. It's capitalism.Justspeededupa liftle.

INTERVIEW€R So:tottte n ,skrrker

INTERVMER

And afml q@tiar. Whdt atltt tldttosar. nt@locd

PEI Fist there ae the lawye6. Ihe wholc procs is very compler lrom a legal point of view Then theF is a tinancial advier who evaluatesthe value of the rar8etcompany- in fact thafs ny own job. TXele a.e accomtinE firG to do the due dilige.ce dd .heck the books of the targer cohpey to make sue that everything i5 OK. There are tax cosdtnts to make sue ihar there is no ourstanding tax. Then there are rhe inveshenr banls. They arrange L\e debt to buy the tal8et company. For exmple, they 8o to comerlal bank lnd p.e*nt the fiBue of the tarSet conPany, the sinctue of the repaynent and so on. The comercial banlGactully pmvjde the loan.Finally theear business consulting compdies. They are the ona who analyze how the business is Aoin8 io be rsttuctured or developed. INTERVIEWER And a th6e ptuplegd a dne oJth. pie? PEI Oh yes. If the value of the target is :!0 m ion €ms, we miEht actuaily reed to raise another four or file milion on rop to pay aI these difierenl people.

0 Tra(k17

And ndo lot @ o ptuWn! daelaper in the Esidential

EPNR Yes, dEl's riEht. I buy houses or apartr-nents,returbish then, and thh rent &em ro tenmts. Sometimes I *11 th€ property lmmediat€ly alte. relubislment, but lsually it's more prcfitable to hold the properly md collect ihe renr. INTIRVIEWER So thnt yan let n capital 8on1as tudl ns lhe rcnt, at least Iuhil. lnue tnc.s nre goitg tp. EPNR lxadly. INTERVIEW€R How fllah tnone.!dld Wu hou lahat lou startedtt b! 'roune.nr b afno,.! ta stntt thiskindaJbusihesstabn!4 lou4etf spdd monq afl it, ahd then wiit Jor the re t ta .on! tn htu"th Ptoptt!, f,PNR I didn't havea lot. I cone from a p@! family .nd everything I h.vc, h,e eah€d I sv€d money from earlierlobs,and then lo slarr my blsins I got a banl loan and u$d my own house as .ollat€r.l on the loan. EPNR Yes. I neded ro bonow a lot oI money frcm the banl<, dd ii was a linb ftghteninS becausemy own luture and the tutue oI my tamily wee ai stake.But i enjot taking rhks, and l'm conJidentthat I haveenor8h determinationand energyto succeed.I suppce l'm a typic.l enlreprseur in thatespect. INTERVTEWER I d lik( to crplaft t,h thtit ol th. ptoftt ol a tfpical ottr.pr.ndt. fai rt touchedon tloo rreds:b.ils .ohtkttdbk tuith 5k, aM hn nts !.[-eo,'fd.itc. rr.l d!t( tntdtiol. wltat tuorld lpr rdd ta EPNR For me, the most important thing Io! an ent€pleneu! is to have lery good instinctsabout people.It's a feelingthing. You don t eally n€€da Eoodeducation.Ididn'tgo to university becauseIthouSht it would be boring-I wanted to start workin8 and eaming noney. No,l wouldsay that what you needis very Eoodintuition to decideimfrediately if the personin front ot you TNTERVIEWER A

ar nstrrl lot a deolds 10.11 is fot a pcfsar? EPNR Yes.You cd smell a tood deal.Of couse th. figurcsnust add up, but you ned rhat specialgift of spottingstraightaway how to nake mon€y wit\out doing too nu.h amlysis, INTERVIEWER OK wrrr.Ge? EPNR You have to be very direct wnh people, witholt being rude. I thinl othe! people like it when you're honest and don'r fool INTERVIEWER

Wlnt nbott yat tttitrde to e'nployees? EPNR With employees I rhinl< you have to be infomal, alLow theo to d€$ casualy md so on. Of cou.se I do draw certain ljnes betws fre md my employees, but it's vely imponant to me that sralf f@l at home in the office. Ii makes them no.e prcductive. I don't like the bureaucratic atmosphee in a large conpany. The best way to fratuge people is to be rhere working alongside them, nol have all so.ts of reportin8 prccedues and meerings.I hate all INTERVIEWER Solout 'notugetnentstlle is ta M* closel! uith stdf B n tum lendq ta ben notiantt by eronple, rnd uith a big enphasis afl tB soinl E b tionships.

2 Interview with an entreprenuer EINR = Entrepreneur INTERVIEWER 158

Canlou tell ne a littk abod lauB?f EPNR Yes,l'm 37 yeas old, Mi€d, and I have tirFe ki.ls. lne always worked in the prcperry fie1d. r $'6 m employee in vtuios

INTERTIEWER

l"&nt happensulcn thirys ga @ong? EPNR I can give you d exmple. I had m employe who wd having a bad innuence on the orher stafi. I wonl go inro derails But I t@l< him to a etaumt. We had a 8@d heart-io-hedr

LISTENINGSCRIPTS discussion over l$.h. I was very djret with him, md very honest. I told him that I was going to chmge rhe way I paid him with a lower fired salary but a higher commission for each deal that he closed, That solved everything - his perforlrrmce realy improved and ererything was OK. INIERVIEW€R Lt's go backagail to tlft topic ol thc WtunLty ol an enttptll.Lr l\. khtu that h. or slt is .Eati.te, dltelric, afld alnst de.isioh nak L But 'tu1/b. an entftpft,ew is alsatuh@'1et'lo Sets barul rynkl! soth.y oft .ery Soadat stnttn3 ptujectsbut l6s Soadot consoLidatnry ord bundnls. nley lnit to nooe on and start so,tethttS llNR Yes,I think you are absolutely righi. That's $ hy every ertrepreneur needs a Eood tem behind them. An entrePreneur G dillerent to a self employed pe6on if yon rcaUy wmt the frcedom to work €ntirely on )o!r own, you become *lfINTERVITW€R QK,ott lral thitl&.I hap.it s r.t tN Pnso,nl.l'N ftrd that tr.pr.n?u$ oJ:tcnhaa?r dilf.ult Jritl! background,dth dinr..d pdrcntsand saon. mis Sirrs thc,t tlte driue ta su..tut atu makc o'I.u, Lrcnus?the! unnt th. s.crrity lll|ich thdt tnt hadds EINR Well, iI we take my own family, yes, ny p.rcnts 8ot dn orcd when I was your8. You know I'!e n€ler thought.bout it like thJr belorc Imeanasa positile infllence, in a s.y Vcry inier6tingi INTERVIEWER 6n.r. T/m,ls rr|v tr .i' Irt sfrish h.tt.

$ rrack18 3 Interview with a management trainee MT= MandSefrenttlaiice r/or'r.Son,Sro t /l !sa littlcnbortlotr INTERVIEWER So,,4snrd, !\Petun.es al an rsscsstnat c!1t\'. @ntresto *l*l .nd MT Yes.Many largecompaniesusc assessmcnt rec.uitnewemployees.Tney.rem.inlyusedto.PeoPleihthcir twenties,b
Berween ien fld fifteen people.

INTERVIEI{IR

OK. So tdlk n1ethtovgh tlE st.nd da1t,th. 6*$ilot

MT Yes.IiEt h e $ @ retested for ou nmerical and prcblemsolving stills, md they also gave us some logi. tsts md llFoflm8ua8e tests. They wdted to .h(k that it s s reallv s \!ho

had done the online tests, and not a matns genis brcth€r o. something like that! Then we aUwent lpsrairs for d inteNiew. INTERVIEWIR wlat kni oJintniaa? MT It was a fanly convmtional one-on-one interiew, with an HR mmaS€r fron the .ompany. She asked me what I liLed abort my last job, what the woEt thin8 about il w6, why yo! would Liketo \rork for my compdy in particular nomal quesrions. Then we had to give a Powerpoint presentation. I forgot to iell you one week belore they had givm us a toPi. and we had to PreParea whole Powerpoinr prcsmtation, making !P the slidPs and sd on The whole interiew including the piesentauon lasted about an hou. Then it rYastim€ for lu.h. INTERVIEIIIR

O(. MT Yes,it was a standi.g-up lunch in th. foyer with canaP€s,nnd we all moved aolnd.nd chafted.I'm sure they were obseninS our socialskills d!.ing the lunch aswelll INTERVIEWER I sw. the! @r.! Whnthnrylhednlt ltndt? MT Afier lu.h thele nas a roleplay €\edse. They 8a!e you a backgrcmd siluation,and you had halfan hour ro lead it and ihi* about it. Then you did the iolepl.y wirh one other Person who whoalshada lole In the room thercwas. silentassessor INTERVIEWER what khlll.aJtuI.?lntt xds it? MT I had to play the rcle of an .ssGtantmanager- like the iob I Nonld e.lly h.!eill w.ssuccesftd and the other Pcrsonwas a problcmemploycc.They sere doing then 'ob badly,theywere ch.llcnginSour.urhoritl,,thethadbeenrudebsmc.uslomers, and $ on. Bur the teamwas shorrofmenbers.nd it was difficuh to find staffin thc locallaboui m.rkct-.nd so I couldn'l fire them,AI$, 1was onl). lhe a$istant manager.nd I didn't havc thc authority todo that - in th.scen.rb thc main nanaSerwas.way on holiday,andsoI ha{t to t lk to thc cmployeeand ky tocontrol INTERVIEWER V.tt cltdllltgilg! Hot! did yat ho,.lb it? MT I canl rell you. It's confidential- it would be t@ much hclP to othe. peopleif they we.c in the samerituation. INTERVIEWER OK, so uhat hrppaEd allt tlt. tohlk)t? MT Next we had a teamworktesl.Therewere eight PeoPtearound a iable- aSainwe were gnen a ba.kground sccnariowith a probleh to solve,dd we had to dikuss togetherand comeuP wth a solurion. In th€ room thee nere thre silent assessorsthis Coi ltor giu tu ar i leaaJth. votarir'1 MT Y6. We were supposed to be the Board members of a conPmy, dinssing ideas for how to imprcve L\e bnsin€ss. Each PeFon had to pitch their own idea,whj.h drey Saveyou. For examPle, ewarding thc enploye€s in a difierenl way, bnnging a new product onto the ffiket, a loyally rhem€ for customeE, €tc. At the end you .ould onl)' chooseone idea. INTERVIEWER Tle sti.ni nrs.ssd/str.r$, fl.. W,tatrlolot think tl ms thnt they uere lNkiiglar? MT We[, comuication skills obviously - to seeiI you can exPlain you ide6 .learl] md diktly and also listen to other peoPle and 6k them Aood questions. Also to seeii you .an iniu€nce other psple md convin e then that your ideas de nght. INTERI/IEIVER was thm nhlthin& elseofter thnt? MI There wa one Laslexe(ne a report Miting exe4js€. Again he wer€ given a ba.k8mmd sihEtion, and they g.ve us half an hou to read it - it was guite lmgthy. Then we had rwo noxn to rYnb a reporr based on the situation. INTERVIEWER wdt ins tht st@tidl this tifle? MT We worted for a .ompany that wanted to move its offices, ard rye had to choos€betwen ta o optios. One location was very INTERVIEWER

159

LISTENINGSCRIPTS erpsive, but ir ha.l goo.l inJrasirucrue, and the other l€ation was ch€ap, but it was o1d md lacled some basic facilitis. You had to choose a lftatiory jutj!, it, and also Sive sne Enflcial analysis. The idea was to Mite emerhing that a rop mmaa€r could read at a glance and male rhe final decision. INTERVIEWER So thz tuhaledo! uas ury conqrelffiiw Ae ull 6 the @fMtiondl intdti.u the! lo.ktd at your nwEnal dtu| laglal skiLh,lorr i*apdsoul skilb, latr llevgewnt skills uith ttu .aiaml .hploy*, laur teantm*nq dbility, yaw turitins ability

INTERVMER

Ahd lute lau suceslul? M T Y e r I d d s l l S o r t h ! i o b N o d l h d r e o n ey e a . . h a i n i n E s t montls in two difteMt .outries - and then I will be d a$rstant manager md I can choo* where to work.

S rrackle 4 lnterview with a supply
160

INTERVIEWER SoSiu ',t rn .Mn'pk al th. difatat co,qani.s i1b|ftd n1o tutply &ak. SCM let's take.n automobilecompanyasan example.They'll buy a whole module like the dashboardor the d@r frcm a firsl tier supplier,and this first tier supplier will buy small parrsand conPonentsfrom a *cond tierslpplie. Thiscompanywill in tuu buy frem a raw materialssupplier INTERVMER 1tsor s likea cotuplctsystun. scM In fact,supply chainmanagementhasdevelopedbecauscit reducesconplexiry In the pasra carmanuiactuEr usedro buy a huge numberofcomponentsand then put rhem iogetheritself to nake all the modulesneededin the car Ir was !'ery difficult to manageallthe pree$es and to maintainqualiry Now theyjusr buy in the finishedmodulesand assembl€rheh. INTERVIEWER Hatu da6 jt t wrk ifl tcrtusoJlL\isti.s? Elgtyorc lns tu delnErb Nryatc.lse. SCM Normatly the assemlrly plant h lftared in a low{ct courry, and dre supFliers to this pldt need to be ve.y cloe in order to Put into practice Juscln-Tme' delivery So a little clust€r of suPpl'ersgrows up a.ound th€ plnt.Itprcvida emploldent and also sone skills rransfe! to the low{osr .omtry INTERVIEWER You'u n'dtioret) the no'ufactret (tuhois mtu itst ah asenbht), dnd its supplies. Whoelseis i,mllEd? SCM There are all the lo8Gtics partneB. You've 6oi tlE compdie respomible for trdsportinE md warehousin& md h* comp&ies could be involv€d ar any point beh{€n tusi tiet second tier, manufacturer md dist ibutoa If we stict wirh ou example ol the altomobile ind6try, then you .d ds indude the financial seni.es pioviders. r a .$rome. buys a car they mjdt want @dit to h+ rhem to do thar, or rhey niSht wani to le* rathd than buy. Ths findcial Frices de Fovi
tdni@l specificatioE, md many other drin8s. Over rec€nt yea thse have b€€n biE advances in L\is field oI iniegraring tI INTERVIEWER I g1t8sthnt in the p6I safle al this b8h6s inlonnrtion rNtld ]ane ben considd.d erfdentinl. SCM Y€. But ifs inportant. For empie, rhe more inJomarion that a suppli€r has about tutm demdd, the lessstock they need INTERVTEWER mis nEnnsthal llor aed o lary tenn relatiaflshipuith your sttptiqs. nnd they lEcane morelike prltne6. SCM Ex.ctly, And it's not just in te.m oI needin8 th€m to make j6r-in-time deliven€r it's more than that. Io. €nmple, we work with them on doeloping new pro.lucts accordinS to our INTERVIEWER Sofat ue re talkedaboutthe lpsttrft et.l oJth{ stryt! chnin. whnt ntut the daloEtm .nd, fr.tu the nrntlretutt

to

SCM Ys. Here il depends a lot on th€ relative power of thc two sids. Big distriburols are very powertul, md they can {or.e the m,nlfactu€r to adoprjust-in-timemethodsjust as the manulactulertorc6 the suppliersto do th€ same. INTERVIETWER S. eiybotl! Mnlf i6Fn irE, nll the My doui the SCM You'rcright. We call it a 'pull' sysrem.In modem manufacturingallthe busine$ actirity lighr down the chainis pllled by cuslomerorde6.You onl)/ hakc what you necd to The opporite,thc old w., is .alled a 'push' sysrem Wirh . push syslemyou work on foEc.srs- you manulacturcand dist.ibute on the basisof your IorRasts The prcdu.ts are iust there,ieadyma
S rrack20 5 lnterview with a sales manager KAM = Key accost manaCer INT€RVIEiVIR (AM

OK, cnfl !o! tell hE yaut iab title afld Ihi nd\stry lou

Y4, ! m a k€y a.colnt franager md I work in a lighrinS company Ou clienrs are ltuge companies in rhe hotel md retan RtoF who e lmkinE ro eithef conshlct a new buildin8, oi movate an old one. INTERIaIEWER whal is d keltatount mnnaga? KAM Ils a job on the eles side, but deaiing with large clients only, The imponmr dients want one speciic pe6on as theii point of conract iside a supplier company. INTERVIEWIR OK, n uhat da yat do dunng o |-!pnol aay? KAM Fi6t of all I bund or databaseof prcspe.ts. I use rhe lnrpmel. new. pdpFh. maSrine-. et. rc ."" $ tu. h , onpdips

fIsTENING sCRIPTs might have plans for new bundinSs. Then I conta.t ths, by telephone or email, and try to gei d appoinhent to visit tlEm and male a sals pesotation. Afld tf the clid1t is ifitmled? KAM Thm I get into a moie detailed conversation with them about the specifi. prclect. Btrt the architect who is workinS for ttE .lidt is the real dedsion maker - the mhite.t has to be hvolved at an early st gc. The building conhacior is also imPorrmr, but rh(y Lord|) louoq q hdt rhe dnnilRt.a\.. 5o we lute d *ris of meetinSs with all the pnties involved, and if everything 8es well, then we .m be6in to tal! about the tjme s.hedde ior thc hstalation, the price, ttLewaranty, and so on. INTERVIEWER Htu is lort iob d4fetu1l ta th. htricnLidenttat w hnu ol a sates consultikta you. KAM W€ll, idea of a salesc@5ultantis prcbablybasedon ar more comPlexind B2C,not B2B.In B2Bthe discus5ions mo€ t*hnical. With the rrchitftt we have to talk rbout our manlfactuiin8 prccess, quality, reLiabiLity,dd o on. With the conhactor wc hav€ to talk about easeof install.iion, delivery and timing. With the final client w€ har to talk about how [8hnn8 cieates an identity fo! thei hotel, or their rctail space,or thet officcs how it helpsto .Eate an jmage. INTERVIEIWR

INTERVIEWERO( Cr, t.g.in.k.od,. orlm thntss !.r {id erli.r? INTERVIEWER li^|, ahoutthc hlitial .nll to the dknt. Thnt s 4 .oltl cnll, i1 othettu.rdsthc.lir,t hrtit dsk.d.br it, ostl '1\\t uroPlal\l do n ttu tihoneuithhl f". kconds. Hal da lar ttoP that hnpPeints? KAM The lirst pcrsonyou speakto is probablya sccetary He€, therearc threethings,!nst, yo! have to inhed i.tely Sive thc imprcssionthat this call is aboutsonething imPortant.Yo! sanl the sc.retaryto f@lthai if shedoeshl dealwith yourcall, thenshe miSht 8ct into tfouble.Tlen, you have to try to crealesobe kind of feelingo. empathywith the persohlery quick\L And 6nally you hale to get the naneof the personinsidetheconPany sho you leallywant. Sonetihes theKretary willPutyou thrcugh, othe! tines takea m6sa8e. Butyounccd a naoe. INTERVIEWER And i,hol yo, f,inlly gct tltouth to tht tightPe6ot? KAM Our brand nahe opensdoo6. Right at rhe start of the conversationI say the b.and Eme, with somePridein my voi@. They are uslally preparedto listenbecauseat the cnd ot tne day they do ned $ or one ol ou competitoF all buildints hale to have liShting, Ihen you have to Aet right to the Point. ln B2B peoplc.!c reallybusy nd they don't like itif you w:sh rhei. INTERVTEWER OK, let's Setto t e st,8a uhcrc Wt nrtuE nt thcit otlc6 o'it1nut thdfl ,t pffian lor thaftst ti'|!. wnt is nnpttnnt? (AM You have to .reate m imnediate *carion of being b6hess lile, but also friendly and positive. Being friendly h inPortdt becauseyou'e selling to a peen, not a company. I bring a nic brchu€ as well as a premotioMl D\D to play on my laPtoP, and I put the br€huie on the desk to have somethinS tD refn to. Then I phy ft by ed. Sometims psple want a liftie mor€ sdial conversalon and relationship buildin8, other nmes less-I fel it jntujtively. But I would say rhat I netuly always beSin by 6king them qrestjoE, for exmple about ho$ then bGimss is goinS You wdt to give a mes8e that ]'ou at inteested in dreh, dd .hpr. bu.ne*. do )ou snl Lob€ d parl of Ll'er bEin6 INTERVIIWER Sa nat ro nrcll it ne tub oJn salesntur,nor nsn (AM

Yes,mo€ as a partner A Sood sal6 pe6d d@sn1 Sive the impe$ion they .ie sellinS. They m th@ to lists ed ihm to Sive their knowledSe md to Eive a swice.

INIERVIEWER AnA hM dolot dnl uith thestdn ldtrl objetion thal the! nlread! lDtk uith anotho lightiflg campany,q dno!:hatunPdny is oftinS n bettd pnce ot tuhatM? (AM You have ro telieve in yolr prodlcts and ialk about The clienl wil feel th]s rhem with a passion md comitmst. im€diare\. But you don't 8et into a conveMrion about Pri.e. ll you ae saying tlEt your Prodrcts are the best, then it's a mistake ro try to compete on Pdce. The best is never the cheaPesr'You talk about qualiry abort imovation, about delivery Suarant€s, about *rvice levels, and also abour other satisfied dstome6. It's Eood to have some tEhmonials we lEve them in the brochue. INIERVIEWER OK,onelnrl qtstion. Canyat tell n'eil theft is nn:/ tdtsi.n insid. Ww .ontpdt! betueekSnlesond Pndrctiat? For dafltL, Wu tmisc theclientdeliwt! nt a cnlan tuM, but then Ptutluctiot Kys tlnt the! cnn't rnk the ld'nts bv thnt tinE (AM Y€s,you call Prcduction and say 'l hJvc this bi6 order nnd th€ clientn@dsit in tendays'and Fredudion saysit's imPossibleSo then I Eo dd sp€ak to Prcdrction in person and ky to Pcrsuad€ them that my ordd is moe important thd all the othcrs. In the €nd yo! have to nsc your ilduencing dd PesuadinS skills not just wiih rhe client,but imide your own olganiz.tion aswell I

tf lra(k21 6 Intervi€w with a marketing director MD = M.rk.tinE dn(lor

INTERVIEWERTiddt/ro.r. &trt fd,. rnlki,Sdi,olrrr..ldsr. Mrl@|,ti DtnaJth!fort Pd:tt.tlt.t, pti...Pldca.rdtlto,totior,brl Wn .nst sohcoJtht dttailsdr! !.rv nirswl. MD Thnfsntht. INTERVIEWERYor'dbctter begnt bqaplni ntsthtl6t P,tlte MD Sue.I managethe marketingotone p.rticular agrj.dural .hemical usedfor one parti.ular crop in one particulardeveloping .ountry Befon we tormulaledihis chemical,we tist ran a rucus grcupoffarme6, We as&edthen what would bc theirideal prodlct in an ideal world. INTERVIET{ER l\lhnt dn1th.y sn!? MD They said rhat th€y wanteda conbined product which was borh an iro{ticide and a fungicide,The idea oI. combined pruductwasa new con.ept in the market,and it.amc diectly INTERVIEWER OK, 8Nd. Naa !el| * 4 littk bit nbortvaw Pri.ing sttot gy, b.cn$eI beliM it s qrite !,aunl. MD Ycs.Again, we asked the lameE how they wouLd lile to Pay in an ideal wo.ld. And they said that in an ideal wortd they would like to pay not with money, but by aiving us some of thei ctoPs in TNTERVIEWER Thnt s like the ol.l lnls - er.hnflging anePtudtcl dircctlylor anath.. luithort goiflg tltough uE mednttl aJcrsh MD Exactly. For the fames it's a very aftradive $lution. They are good at Ploducing the .rcps, but nol so good at commercializing INTERVIEWER OK, but sometkk p6ses to !/o, becn$ettau thefl h|re b sellthenops.youdE n chmtnnl.ampd/! selllngasricultur|l prcdt.E is tlol Wur btsir6. MD We use comodiry Eaders who sell on the oten !]uket - we don't sel omelves. Here's how it work. We 8o to the traders ed *y ihar we have a forecast of'x' bags of coPs from the ramers for the next s€aen how much cd yotr pay? The traders Sive us a pnce. Notice that ils aleadybetter for the famers becausewe ca @ ou large volumes to 8et a better price than they couid it they eld individual-v IEn, aJrerrhat, ne deate a Price list for of olr Product tor one bag the famers: for example one tilo8rd

16

LISTEI\IINGSCRIPTs ol crcps. The fam* deide how much of otr prcduc. ihey wanr, md they si8n a.ontract with 6. When dre crop C ready, rhey deliver it to rhe trader not to us, dd th€ rrader paF 6. We n*er ger lnvolv€d in *1iin8 rhe tups on the mffker That rist pos to the rra.ler but they know then blsinss. INIERVIElER OK.Sou u n eredpodrct,w Detu,e@ pt,.e. xatu pLue tell us a little bit aboutptae, ht atht @tds lhe dkttibutiat MD Yes.We have se8nhtation in the market acording ro the size of the fa.m. W€ have bi& medilm md small grcwers, and we tare a differenr approach with each egmenr. Wirh the bi8 farmeB we use a B2B appruach. We have a key accobr manager iGide olr company so that the famer can pi.k up rhe phone md ialk ro one peson, Ihe neSotiarionis jusr aboutprice.With the medium-size farmers it's difturunt. We sdd a s,ls .ep to visir then fam, but in lact this kjnd of sles rep is also an aAri.ultural cotudrdt. T1rereps have a scienceb.ckgrcud - rhey e aSrcnohjsrs. Th€ larmes really rppKiare this technical support, and ou. competitors don't otfer it. The lar8esize fa.hers don,t ned this tshnical suppDrtbecauserhey have rheir own agononists INTER!'IEI{ER

Andttunh t'annns? MD The ehall fa.mels don,t get rehnicat suppod. They jusr ordcr their chemicalsdipctly fiom a distriburorwho delivcE the prodrct to thch. We suppl),thedistriburor.nd pay them ro 80 round the farmsdoing rhe detiverica.The diskiburor canalsogo to thc mediuh and larScfrrms, orsonetimes wc do thardiRtty - ro.examplethe s.les rep on takerhe product. INTERVIEWER So kn .1nni6 hdrd! b.htcr ttt lannaE n1d "\\tr MD Etactly.lfyou rehcmber fron betoe, rhe tames pay for their .hcmicalsuith bagsof crcpsdetiveredro the commodity r.rdes. The dishibutos are paid by us,out ofrhe money rhat we Eerfrcm theconmodity tladers.Ii's a win-win parrne$hipbetwftn us, distriburof,famrer and tradei INTERVIEWER oK, thet s on.fndl ,p t.Jt:ptu"totion.r lhitk tttots Ihe ntostnxa9t ihg af nll, MD Yes,in our marter the massnedia is lessinportant, b
And of cor6e tha alids hau sot.edthzn ptubletusb!

MD Of cousel How did you Euss? Bur yo! shoul.l s@ rhe aliens, €yein 3D ir's rea]1yanazinEl

F Track22 7 Interview with a finance dire
Well, I'[ do my b€st. I thint my compmy is quite t]?ical md I .d desc.ibe how ir wo.ks. i am the linance Drecror and I have thR manageF leporring to me, each wirh a differenr ea of ftsposibilily fte nst area is the treasury ihe second is accountin& md the third is bud8ering and ptaming. INTERVIEWIR OK, kt\ tatu tho! oR try one, FD The Teasurer is esporeible fo. cash and cash flow He has a snall team that arc respoNibl. for accounts payable and accolnts Neivable, so they make payments to suppliers and coUecr rrcm dstomerg The Treasurer is .lso the point of @nrad insidc lhe cofrpany foi ou banks, dd they tatk roSether abour ou! overdraftfaciliry,or altern.nv€lyhow to ger the bestlnteresrrale on any sparecashthafs . vailable.Thesedays rhcreis alsoquitea lotofdiscu$ion aboutspeciaI financi.I itutruments that the bank INTERVIEWIR wtnt Wi o/ hsi'rktt,l? FD Fo. example,derivarive to swap variabteinteFsr ratcsrnto iixed intelestrat€s- rhrt minimiT.es our risk if we takeout a tongINTERVIEWER

OK. Nclt is nccorhtittg. we have a Chier Ac.ounring Of(icer who,s nsponsible for PFPa.ing the accounts,so th.r,s the incomesratehentan.t cash now statemenron a quarrertyand annualbasis,and rhe balance shel iust annually.Ihe nosr ihportant rhing for he. is to plepare everyihint for the.Mual€porr, whi.h we havea statutorydury to provide becau* we're a public company lhe ac.ouniinEtean also pFpares the invoices ro end to customeF, and pro.ess the invoicesth.r we rcc.ive ftom supptieF. INTERVIEWER Ri9ht. And the thtrtt oni? FD Fin.lly we h.ve a linancial Conrroltef who,s reponslbte rof inie@l au
FD

162

Well, invoicing is a ptrrely administ arive prccs mvors ae g{erated auromaticall), by ou IT sysiem. invoicing is imporrdt

LISTENIN6SCRIPTS for keeping the books, jusr like puchases md ordeF, and so dr€s thin8s come mde. the contrci of th€ a.codts ofne. Bul accomts recivable is a more hmm md lrmagdial PrG6s - a cedit conhoner miSht n@d to telePhone a astomer about d outstanding bill, send them a renind€r deal with bad debrs, md so on. ll's the flow ol cash into dre compd, and so rt .omes rddr" rd.ut. n .not;u'l d ddrmi.hcti\e $in8. INTERVMER OK sotlet ! the th& oteds.Nou ut&t aboutyou thc FindnceDiEetor Do )tou hnre afl:t spec$c'rspofsibiliti6 thtt orc nal cau4d b! the thte pcopb rnd( vou? Yes,good qlesnon. Besidesmanaging rhese three people and trking nny importnnt 6n.ncir1 issucsro the seniormmagement team,I alsoh.ve responsibilitytor corporat€govemn e.50 l'm the onewho callsrhe shareholdeB'meetin8smd tak6 the minutes of those meernrSs,dd I'm the one s ho work cl@ll with the external auditors. And iI there's a very big prcject to be fituced, then I'll speak to th€ banks rather than thc'tFasuer INTERVIEWER Crcat. I thntk theon\ thilg ltar hatdit ,tentionul so fdr n tt andtrxplonniq. FD The Chief Accounting Officer h.s ro prcp.re ihe tax rutuns, an.l sonaturally th.tpeson isvery invoived in tax plaminS, Blt this isn complei.rca and we oftenu* exrem.l consultantslohelp us, .nd in th.tcasc I wonld Scrinvollcd assell. INTERVIEWER And fndl qucstio'l is this:th I i! th. or. tl''tE thnl "1! tuu|tlnnka:taut |iJ.tusiernndnllol! uar to b. ai.llrltun1vorr

FD

!D

That'seasy,Al1 financialdjrectoGsufler fion intomation overload.Elery day and everysccl we wcolumns and.ollmns of figures,with lots ol indicators,and buricd dePwithinthose columnstherc.rc somcsmall pises of inforhation that ae important.Butthisinf$mat(rnc.nbcverydifficulttospol.The ch.llcnEcis to reducethe amountof information.oming in to us, to lillcr out the back8roundnoisc,er thai we * just a summary and we can focuson the leal preblemsand the bi$erpictue.

S rra(k 2l 8 Interview with a human resourcesdirector HRD = Human resourcesdiretor INTERVMER

I ktutu that !a, @rk in Hlrnn

Resov.6 ht lor4l "

afic. ol a tdry.Anl.ticrr load.o,tpn,u HRD That'sright, INTERVIEWERCatlar tcllft'eo lntl. ,bort tlttHRlntttior ,t Wl HRD Yes.Theie are about 200 people in our ollice in total, and of those,thee are lour of us in HR. EachpeBon hastheir os'n resporeibilties. So ther is one peEon ior conpensation and ben€fits, one persn in chaige oI trainin8, one iunio. pe6on lor administraiion, ard then me I'm the HR dnetor I IdE especially on r€cruihnent I have to d€relop and implemenr all the prccedues, policies and initiatives. INTERVMER Do that pahi.s cort Jra"r h.dtl oJld il the US? HRD Yes,most of them. We have to inh'oduce rhem ldalllt sometimes adalting them, according to our las s. INTERVIEWIR Cnfl ,eu giu ,tr d' da'npk of ow pali.y or pttrdu4 uhnh .aneJnrn had afre annuhnh ans diff.ult to afupt to lotl HRD Foi instmc€ in ou comtry it's very.liffiolt to d6miss someone. Now my cohpmy is ery fan, but it s also very srrict with poor pedomds. In the US there d ta€ets to m@l dd objectivesto achievetorall sployq, and ilrou N a pmr perfomer yo! @n stay 'n the companv for mai:be r$ o res, but no nore. ln my colntry things don't wo.k lile tnai. Ou larvs donl allow us to dismjss someone foi p@r p€rrnlmce alone.

At th@ nfl! othd dnnpl6? HRD Another erample is equal oploirsities. Head of6ce has asked ne to develop a diveEity sirategy - ihai's very imPortant in the States- and we are foosinS tusr on Eend€r md th€n on a8e. we donl tradinonally thinl about invesrin8 in older leolle - r l e r e n { J n d ) l ' l e d \ L r d 8 e p h r d . B u t L u r c p eh r . a 1 d 8 m 8 pDpulation fld we will need more older peoPle inside comPanies. INTERVIEWER lfiat nrc y.u daing $ ftldtion to gehder?HaL nt yat tryit\ to ottn.t nnd rchnt t@htd n1lotr organizatim? HRD We oller ienbb hous, part-t1me working for mohers rtlming to work, a f.e kindeigarten - th.r kind of thing, tNTlR!1Et,!R

INTIRVIETWER A kinddgarlot is at iflportaflt d?.ision. With cltiLlcot thet s dj'tancial eost- vor hdtt to s.t ut a spe.inl nahl, oryniizelaotl eery dn:/,f'111and pa! a qnt iftcd p.rsan h ru it . .. HRD We tried to sei up a khder8alt€n last yeu, with the backing of hcad otric.. Thc firsrploblemwas that we ody have. tew women hele rvith babies of the right age to us€ it, and then th€re is lhe problemol ourlocation,We re half an holr's drive outsiderhc cily centre md the mothe$ had b b ng the b.bies here and takc themback again,with the babiescryinS in rhe backs€atof thc car in the tush houi It was very difficrlt. INTERVIEWER Practiealpnbl.ms. HRD Yes,$ I havelo be honcstand say that the wonen prcfcrrcd to leavethenchilden athomc in our cultue the Slandmorhe. oftcn looks.ftcr th.child du.inS lhe dat Brt whar th. mothers .'m mu. h mom inicFsted In is worlti(c balince- hdv,nEmoG limc working out of the otfice. INTERVIEWER Ard n'lnl ii lan ryUry th.n? HRD we encolragemothersto work trom homc one day o wcck, .nd $ealso havea conh.ct whcro they canworkslightly flwer houE forsljghtly lss money,but the),can Sohomeearly and Pick up thechildrenfrum school Th.t's vcry PoP{lai In factwc find that rhesewomen man.Aerheirtide vcry well,.nd domorco. lessthe$me amountol work as eleryone.lse. INTERVIEWER OK.lttkt ue lir\h, co, tu. eou. bt.k tu tlht issr( a! pttotta caatlttnc llor neitia,ed ea i.t? Yor srid thdtPaaPlecnr't be .liruirsadJat p@t pcthn@ ce,sottdudoyar mirtrs. pethrnnrc? HRD Thoway' Fi6t, compensation is basedon a ihrcc-way lormula.TheE's a fted pa. o thesalary,the biggestpart, but thcn rhere is also a part thar d€pends on conpany performance, and a parr that dependson individual perfolman.c.Sowe motivatc peopledrou8h pay.The othe. way to nanage pellormanceN thfttrgh ou appraisalplNess. Eve.yyear the line managerm€ts with the employ€ to eview then Pelfornance,and the out.one of that meting is an individu.l dev.lopmenrplan INTERVIEWIR ht@ltn!8en.hn$ dd trdinin&? HRD Yes,thc big thing right now is innuencing skills. The ajm is to help peple in their ereryday worting relationships. You \nowwel'"vplohorl ndlugh pF*uh. modembL-inp\\ €nvioment, to have contact with people in other deparLnents, io work in cross-fudional tem, and much hore. In oider to do all ihG we haye to i.rluence other people all the time, to obtain their help md then a6im€nt. INTERVIEWIR Btt eanthis betninetl? l'fl Deryrl\bio,s. Suttly it cofust inst!1. th. pnto", at it's sanething that daelaps @ith Itst tit' .1Viiq@ Crn Jlot netnl\ increae sa"Eane'sjnlr.ncitg skittsb! sdding th o, a cot\e? HRD In ny opinion, yes. Particrnarly tluough roieplay, and also elyzing ce studies of what someone did in a part(ulai sirurion in telm of then behaviour, and why they 8ot or didn't 6et dre resdt th€y $.mted. You have to invite people to reflect on dr6e rhinEs. I rhi.t it cm male a differen.e.

Answer key I The economy I drves 2 dereguation ! slbsidies 4 qlotas 5triffs 6 conslraned 7 iqudq/ 8 bubbles 9 underlying l0 different a s 11 prosperty 12 lieracy I consumer spendng 2 lreemovemenl of capita 3 grow,lh andcontraction 4 |te expeclancy 5 openbo.de6 6 standard oi livinq 7 envronmentaldamage 8 goodsands€tuces 9 inte€strates l0 cheapcredit 11 socialmobity 12 ufderlying strength I corsumer spending 2 ch€apoedt 3 standard oi iving 4 gro\4thandcontra.tion 5 nlerestrales 6 unde.lyinq nrenglh I on thevergeot slallng 5 rouqhy

2 sump 3 boostng 4 theFed

1 achieve a c ll.almass 2 waitfor invoi.estobe paid 3 growor shink yearby year 4 €mpoy morenaff 5 spotagapin the market 6 takeo. the riskof the busne$Ia ing / bnT In arruqedmourI ol Torey 8 elLe c arow11 prse 9 enenda lineoi credit l0 90 pubic ll groworganicaly or by acquisit ons 12 s€llthebusiness asa goingconcern 1 overcxpard 2 undercut 3 LndeDerform 4 overtake 5 overupend 6 u.dercharge 7 overde 8 under€stimate 1 outlet 2 fee

3 fulli

4 nandards 5 running

5 Company ttrpeg and corporate governance 1 debl/liabilities 2 owner/ proprielor 3 share/dvd€ ! shdeholde/ ,loc\rcber/ 5tdlenolder 5 rd,vden.l/^ 1'I

2 The business cycle 1 lully 2 legaly 3 pe6onaly 4 potentially 5 hord a 1anlpiLrrn 2 expansion 3 adownturn 4 contaclion , borrom\ b Ia(ove- 2 pealr I rrdow. 1 oveuee 2 audtols r b

2 d

3 c

4 a

5 e

6 h

7 f

8 9

9 j

3 dvdeid

4 nake

5 ini€grq

t 0 i

I o w / p c k s u p 2 e n d/ 1 u r n i ndgo w n 3 b o n d / l i x e d 4 rnoreexpensve/coos 5 contract/Gcession 6 antcpate 7 beiore 8 b! l/ bul sh 1 polcymake6 2 newbonowing 3 side,effeds 4laxcurs 5 govefnment debl 6 abourmarket

I lmitedliabiliry 2 det iledlegslation 3 leqalentity 4 non-profit organiz;lon I CheIExecutile Offlcef 2 AnnuaGeneralMeel ng I PublcLimiled Company 4 Limited LiabillyCompany

6 Global is5uesfor lh€ 21st century

3 International trade Exerclse 3.1 1 ecofomesor scale 2 on yourbehal 3 wa.ranty 4 warehouse 5 expertise 6 trademark 7 fee 8 royalb/ 9 invoce 10 bi ofladifg Erer.lse3.2 I t;ke adlantage of anyunderused capacty 2 rcy on justyourdomenkmarket 4 acton somebodys beh.lf 5 estabsha presence in. foregn marker 6 keepyourown legaldenlity 7 handethe exchanqe of doclments 8 payac.ordngto thetermsof thecontract 1 Cash-in-advan.e 2 Letterof credit 3 Do.lmeniary coll{tion 4 Openaccount 5 Consignment purchase

1 beshodol resources 2 behungrylorresources 3 bel. shortsupply 4 havea commonAsiancufiency s ceoilin dollaE 6 .ccosesmeon€of hypocrisy 7 in ihecom,ngdecades 8 tor thelor€seeab e J!1ure t holda virlualmeelinq 10 haveaccess toword markets I valLe-lormorey 7 loyahy I aea./e, 6 sLslalnable7 bad ash 8 sourcing

4 Frdi-

r qerd€r

1 customs 2 handlng 3 premiset 4 truck 5 oading 6 treiqht 7 documentaton 8 transit 9 ierminal

1 waming/ destrlclion / threaten nq 2 actv sts/ lnfluential/ envnonmenla I engineering /.ontrovers all gbu4h/ prcduction 4 economic/indunalizarion / strengths / weaknesses

4 Sefting up and growing a business

I sia.dards 2p.cpies 3 povedy 4 access 5 gender 6 plemium 7 sobsidy I oveprodlction

Exercise4.l ' edg" 2 bacLers r roilderd 4 Fg:lenrry 5 Involc6 6 pilngLp 7 tornover 8 a qoingconcern 9 acquisitions 1 0t h o r o u q h y 1 1 n i c k n g w i t h 1 2 f a * e c o n o m y 13 reghbourhood 14 seedmoney 15 loyalty 16 complacency

164

1 geopolitical nllue.ce 2 dmatech.ige 3 gobalwarmng 4 suslainabe groMh 5 pe.koi 5 gfeenacrivsts 7 m.jorbartlelield I livingnandards 9 pfklig powe. 10 d€.liningbinh..re 11 knowledge worke. 12 environmental npact

ANSWERKEY

7 Management styles and qualities

2 /

1 authortarian 2 demandig 3 .onsensual 4 co.chinq 5 mentoring 6 lason 7 hierarchcal 8 pro.ctive 9 consclentiols l0 thorough 11 detemined 12 serba.k 1 bLreauoatic 2 decenrfaized I unco{perative / unhelp{ul 4 uncoord nated 5 ndKt 6 infexible/rigid 7 handron / messy 8 dislron-"n 9 rationa l0 careless 1l diso.ganized 12 rcaxed/calm 13 unsupportive 14 bottomup 15 unclear I stressed 2 nflexble

! handson 4 messy 5 bureauoatic

1 lackvisonaid falto showleadeEhip 2 knowwhereyoustand 3 workon yourownaid besell'moivated 4 iakethe initiallve in 5 keepup to datewithdevelopments n thefield 6 givefeedback an approprate way 7 re.overquicky aftera setback 8 ranslate generanratesyintospecifkobjectives 1 issling 2 9uding 3 pogresr 4 run.ing 5 carryoul 6 breathing 7 reportback 8 le€dback

8 Organizing time and work 1 ahead/ wofflow / chad/ sl ckers/ guidelnes/ prioritize / chalenges/ lace/ meet/ stimLr / s€nse / achrevement ating/ rewarding 2 workoad/ papeMo*/ time{onsum ng / behiid/ deadline / stressed out/ short-cuts / c rcumstances beyond / i.€me/ quck/ didy Exerciee 8.2 I sp€nd 2 find 3 runout of 4 alow 5 put n 6 waste

1 a) leadingb) leaderc) leadelship 2 a) motiv:iingb) demotivated I .) managingb) unmanageable 4 a) elsfacton b) lnrtirfactory 5 a) analrtical b) analyss I achieve 2 assertveness3 acknowledged4 buzz 5 moan

1l Insuran(e and risk management 1 prudenl 2 liabiily 3 sue 4 ndemnity 5 vandalsm 6 awards danrages 7 excluson claus€s 8 ren€walnotice 9 payout 10 compensal on 11 baddebi 12 complance 1 be legally obl€ed10do something 2 tryto provefeglg€nce 3 awad damages 4 beliablelor thedifiere.ce poicy 6 takeon roomuchrsk 5 takeout an insurance 7 be senra renewalnotice 8 ch€ckthesmalplnt ' drspute 2 rc,ecr I oorerrc 1 on 6 oi

4 dod

5 mrlr- 7e

2 ior 3 lak€olt 4 againn/up 10 5 tor 7 made/tor 8 to/from 9 atlof berg

Ercr.iie 1i.5 plan 1 exposure ro risk 2 riskassessments! contingenry procedure 5 remedaacton 6 dam.ge mitation 4 escalation

1 budgel 2 compelencies I constraints 2 tacke 3 brief 4 be nlhe oop 6 i guringoll Ercrdse8.5 t shouldbe'thep€6onresponsibLe'

5 snaq

9 Planning and selting obiectives I ncleholdea 2 Lorl'rgencypa1 3 ds!rrpLron! 4 lrends 5 leqislation 6 hqhllghts 7 pldnl 8 largetr 9 goingfo^rard l0 lorecasl 1 mplemeni 2 acheve 3 met Exerdse9.3 t a r g e t1: b p l a n3 a

1 positive fedbackiroh yourboss 2 negatveexperiences with colleagles 3 sense of achi€vement4 lackof recogniton politics 6 physica 5 company envirorment 7 task-orent€d busine$wodd 8 financial reward

4 make 5 .ea.h

12 Manufacturing and engineering r rawh.leras 2 rusl 3 ble-co ar 4 unions 5 oltdated 6 inveniory 7 (ope 8 bcakdown 9 dams l0 devices 11 dEposal r2 embedd€d I maspoducron 2 well-paidlob 3 heavyindunry 4 coreconcepls 5 continuous improvement 6 wde scope 7 residenUa buildings 8 consnenlqually 1 machinery / equipmenr 2 process / pro.edure

10 Leading and motivating

analyze/ exami.e/ go over construci / assemble / plr iogether determine /establish / findoui pul i.to operaton/carry implement/ out monnor/superuEe / keepan eyeon renove/ get dof eLiminate/ evallate/ asess/weigh up m a n a g e / r u/ b n e n c h a r goei rep.irl fix/ pLrbackinioworkingorder simuate/ replicate / model fhe vefts in the thid colunn are nare infornal.

1 troms.rat.h 2 rheb9 pictore 3 role 5 intution 6 empowering 7 trustworthy

1 morld 2 €liabiity 3 slm 4 upgrade 5 worklorce 6 u p a n d r u n n i n g7 e c o n o m i e s o f ( a eI r 5 k

!ss!e:2c

1 exceed / n 1a 2 fa I shortofl annual 3 implemenl / th€eyear 4 s h e v e l/o n q t e r m s r a s e d /compex Exercise 9.5 objectver 2a scheduler 1c budget3b 1 set/ overal 2 si.kto/tight

3 submii/draft

ANSWERKEY

13 Inside a factory I plart 2 fitt€6 3 -wise 4 shilt 5 dir.repancier 6 lacitily 7 ta lored A throughput 9 rolrngoif tO idte ii wearand

I indunrial / economy/productve 2 anatys s / mp.ovemenrs 3 waneful/exceeded 4 de very/assembty I bon'er, | 2 shcpe r nr:Bhr 4 ro ar.emote, 5 synchronlzation6 bran.h 7 custom zed

I long 2 wide 3 hiqh 4length 5 width 6 hetght 7 cross-section8 sqlare 9 weighs tO rounded up

'17

1 runout

1 features 2 durabillly 3 conformance to reqLrrem€nis 4 sampling 5 spotchecks 6 wane 7 framework 8 reslltsorienlanon 9 iad 10 cyceimes ll designjoFmanufactlret2 rlpp iercapabit ry suryeys 13 scrap 14 podocrrecats

2 snapofl

! blln

4 workloose s beiammed

l4 Procurerrent and purchasing I qLotalon 2 trackrecord 3tas 4 delvery 5 backhander 6 colluloi 7 tendering 8 nvoices 9 back-office 10 undertake1r synergy 12 drawbacks I qlolatron/quote

2 eimar€

3 proposa 4 tender

proc!reme.r = sourcn9 + p!rcharng 1 oiishore 2 onshore 3 nearshore I i " g r o u p6 ! p p l e , g ) N e / p r e p &/ €p r o v d e / s u b m , r 2 " . 9 r o l p ( c u s r o m e nfaoir l g e l / a c c e p t 2 1" grolp Glppieddrawup/ make/ purfoMard/ oultne/ submir 2'r!group(costomer) accepl/ consider / reje.t 3 l " groupGLrpplier) b d for / submir/ put in / win 2ddgfoup(customer) nvite/putsomeihinq oul lo/annou.ce/

Quality

I outslanding 2 vdiable 3 iferor 6 enhance 7 specit 8 moiitor

4 poor 5 ensure

1 randomsamplinq 2 spotchecks 3 z€rodeiecrs 4 rght16ltme 5 results oriental on 6 contnuousimprovemenr 7 employee invov€m€nr 8 .yctetme 9 wairanry ct.ims I pedormance/besl n class 2 parameter / varylromthe norm 3 compiance/ cenitied 4 mark/spoistheappearance s metodology/ elininalingdelecrs 6 mear!.€s /rhroughout business 7 predct/lewermurak€t 8 waiianlyctaims / mprove

18 Sales

4 l" groupley / arge/ ead'.g/ major/ pnncpa / ttslore 2 _ cq o L pe n " r a / ' o e r g r/ o L l r d e/ o r e a e a \ o 5 l" grouplengrhy/prctr.ded/protofged 2"0groupuns!ccesrful / fruitless / unproducrive

1 fancy 2 laio.made 3 rappo( 4 competirve advanlage 5 ript 6 jargon 7 knocking 8 acknowtedge Exer
15 Supply chain management and logistics

1 d

1 lpnrearn 2 dowfsteam 3 batches 4 warehouses 5 distribltion centres 6 rhirdparrytogistics prdtdeB 7 flagup 8 boitlenecks 9 nbound t0 merchandisell uitoading i 2 h u b a n d s p o k e1 3 p a l l e t s t 4 f o r k i l r r r u c k s t 5 r f a c k 16 stacked up 17 lraie6 18 pick-and-pack

1 90 ahead 2 up and.linng 3 knock 4 tatest 5 on sae 6 lorsale 7 volunres 8 accolnlslor

I cargo 2 lreqht I slpplychain 2 finished goods 3 finalcunomer 4 ogncs provider 5 dnributonch.nnel 6 foMardingaqent 1 Ensuring 2 fore.astng 3 handling 4 batancnq 5 Lrnkrng 6 Seectng 7 Neqotating 8 Wareholsing

16 L€an production 1 delime 2 flow 3 defecis 4 .ework 5 eriofproofinq 6 delvered 7 eadume 8 manpower 9 .oementa l0 shine 11 tools 12 storaqeboxes 1 add va !e 2 be wllinq io payfor someihing 3 deliverparts 4 pl-trare rdnp 5 -c.4 tr6.omelhrlo doa.n- rppen dqdin 6 performa task 7 aitacha kanbancardro an iiem 8 cean up the equipmeniso thar ir shines 9 erotspDof a sysiem 10 hande mateials 1t minimizenventory 12 optmize the Jlow of marertals

2 c

3 a

4 b

5 e

6 9

7 l

19 Customer setvice I loqged 2 reief lpwafds 4 bulk purchase s lyer

3 commrtments

1 lollow !p a plrchalewith a quck call 2 provrdeafy€f insideeverypadage ! be pa$ed ftom pe6on to pe6on 4 makespecilc commih€nrs 5 includea tfe-ime glaranree 6 l o q d e i a l s o n a C R M s y n e m 7 € s n r h e u r g e l oa r s u e 8 acknowledgeany inconvenence caused

1 an initialenquiry 2 inlormation 3 a qlotation 4 thequotaton 5 anorder 6 rheorder 7 an invoice (with the qoods) 8 the payment 9 a .ompa nt 10 the probem I 4 6 8

bodyposture 2 channel of comnuncarion 3 com.non qround on s.reeninlormaUon 5 prelercdcusromers prsalesenqliry 7 buk pur.hase discount moneybackguarantee 9 satisfacron sLrtoey jO wairanry ctaim

1 waiianty/graEntee 2 FreqLenttyAsked elesrons I satisfa.tion 2 oyalty 3 leedback 4 suto€y 5 expefence 6 expectaions 7 profile 8 requiremenrs

166

Al'lsWEBKEY

23 Promotion

20 Markets and marketihg Exercire 20.1

1 segmenls 2 gender 3 peeu 4 purchasinq 5 patterns of demaid 6 reps 7 target I feasible 9 pricepoinis 10 nchemarket 11 catalyst 12 ieatures 13 aber 14 elanci9of demand Exercise 20.2 1 marketnq 2 promotion 3 advertising 4 plbliciv

ExercB€ 23.1 1 billboads 2 sponso6hip 3 coverage 4 pre$kit 5 stlnts 6 goodwill 7 philanthopy 8 convergence9 tracking ]O GPS

marketforces/ ieader/ price/ sector/ share /tool ma.keting ageng/ campaiqn / mix/ strategy

1 bujldawareness ol a newprodua( 2 n muated€mandby throuqhto th€i ra ofieinqai.eet al 3 t.ke an ntia concept advertisement4 placear ad in th€ media 5 issuea newsrelease 6 kep in contact wirhcunome6 7 monitorhowconsume6 adsto a mobiledevice respond 1oadvertisements8 pushtargeted

1 markelforces 2 markeingmx

ExeRite23.3 /put/ ranltookoui 1 placed / pubLished

1 e 2 b

3 c

4 h

5 9

3 marketshare

6 a

7 d

1 conlgt 2 coupon 3 dscolnl 4 fre€sample 5 freetrial 6 freepoduct 7 loyaltyprogram 8 perona appearance

8 t

brea( lnior enler/ openup / penetrare / corne./ dominale tat€ o!€. captLre be forcedout of be drivenoul oflwithdrawiiom

1 advertising2 salespromotions 3 PR 4 peEonaselLng

24 Pri.e

2t Produd

1 adjunable 2 relenue 3 mBsori on 4 cove6 5 gaina hold 6 consistency7 lrck 8 chargea oremum 9 m a L , p 1 0 o u n dn u m b e r 1 l b l n d e 1 2 j n c € n l v e s

1 compimentary 2 €nhanced 3 catchy 4 swit.h Exerdse21.2 1 image 2 manager 3 leader 4 loyaty 5 equity 6 sl.etching 7 assocation 8 awareness Ex€rcbe21.3 1 brandawarenes 2 br€odstretching

rnto 1 losesalesand malkelshae 2 takeseveraliacloru retLrrn on y consideration3 requrea minimum 4 coverlhecottswithsalesrevenue 5 9an a hod n a newma(et youGelf arthe high€ndol the market 7 setthelra 6 position p.icerhaitheenduserpays 8 selbeow costio altra.t.uslomer

I exclusive / uxury/upmarkel/upscale 2 economy / valueJor-money3 tradtional 4 ben-seln9/favourte/ leadlig 5 wellknown Exercise 2l.s 1 nnovative 2lulyaulomatc 3 blilt-in 4 podable 5 compact 6 rechargeable7 wefmade 8 state'ot_the-6rt 9 nregrated 10 adjustble rl easytocean 12 oplDnal 13 energy-effici€nt14 economka 15 reqced in a range frendly t7 reliabl€ 18 availabLe 16 environm€ntaly 19 hgh-pedo.mance20 waterprool 21 highrech 22 shock-absode,rt23 hard'weaing 24 nandard 2s stylish 26 imited 27 user-frendly 28 ong-lanng 29 expafdable 30 one-touch Exercire21.6 l d 2 c 3 b 4 a

22 Distribution (pla.e) Exercise 22.1 1 fee 2 retalloltets 3 masscoverage 4 settlelor 6 decor 7 keepng pacewith 8 ddvesdowi

/ran 2 caried/ pubished

5layout

I conven encestore 2 cornershop 3 E-tailer 4 $&ality store 5tore 7 cashandcarry 5 supermarket6 department Exer.ise22,3 1 m a r ku p 2 m a r g n 1 siqnaqe 2 tag 3 medandse 4 qarment 5 dwice 6 checkoui 7 fornshings 8 mxand math

r prompl 2 scae/passo en d

3 c h a n i € 4 s a c k/ s a e s

increase / raise/ put up l o w e , / c u t / b i n gd o w n sel/ €nablsh/ delermine n€gotrate / a.i!e.i / settleon / figureoul / wo.kout calculare / exorbitant / inl aled 2 low/bargain/ budget r high/ excessiv€ / / lair/ reasonable4 retaiL/lisl / reduced 3 good/ .ttractive

1 set 2 helddown 3 wereforcedlo raise 4 Eceived complainls;bout 5 matched 6 uodercut to 7 re-thought 8 dop 9 freeze 10 agreed

25 Marketing managemenl 1 coc competencies 2 threals 3 suruey 4 questionnare advantages 5 qualitalive 6 focusgroups 7 competitive point l0 betateninq 11 prototype 8 screening 9 breakeven

1 .ost structu.e 2 produ.t line 3 corecornpetenoes power 5 quantitative research 6 locusqroup 4 bargaining 7 customerbase a competitiveadvantage point 11 betaten d@elopment l0 breakeven 9 concept 12 technical lmplementation power 1 competitive .dvantage 2 barqairrng 3 coe competencies4 .onceptdeveopment on 5 locusgroup 6 te.hnicalimplementai

t6i

ANSWEBKEY 1 ooktowards 2 gain 3 trealwirh 4 crry oul I de5ior

mdrlLaue

LaJlCh

4 .el

5 rogrddF

I suggenthe needfor 2 put moneynto 3 ca.ryoot 4 s e e t h e l i m t a t o n s o f5 c u t b a c k o r 6 a b a n d o n

1 Kod something.s an expense 2 payoff a credtaccounr i fll I applyrheefre loq. 4 raisecapitaby issuing newshares 5 present information n a.ertainway 6 subrract onefigurefrom another 7 buybackshares fromthe ma*et I borcw money

1on 2in

3as 4on

5by

29 Managing cash flow

26 Inaome slatement I revenue 2 profit ! th€ indirect.osis of s€tinga p@duct and runningtheoif ce 4 in d fferenlplacet 5 amorlzaton 6 gross

1 reassur€d 2 overdraft 3 peEneni 4 tixedcons 5 shorrfaI 2

1 Conofgoodssod 2 EBT ! Income taxes 4 Dividends I tiscal 2 ranqbea$ers 3 nterptay I fvest 2 boon

3 guaranlee 4 ofisel 5 satisfacrory

Exercke26.5 I record/ egitimale 2 ertraordinary / exception.l 3 red/baikrupl/lquidaton 4 wrtesoif 5 adve.se 6 accrual

27 Balancesheet Ex€ki5e27.2 1 d€bl 2 bonds 3 goodwil 4 s€tasde 5 modgage 6 payoff Exerck€27.3 I Inio 2by 3lo 4n 5for 6 b.ck 7 rhrough 8 on 9 o!1of t0 over

Ex€rcise 27.5 harc hold/ own/ posses bul: accumu aie/ acqu.e / buid up axercise 27.5 col/{r: buid up/ nc!./ runup payback:c ear/ honolr/ payoff / repay/ seruce/ tettl€

1 pateni 2 copyrqhi 3 trademark

28 Cashflow statement Exer.ise28.1 1 plait 2 sulng

: sums 4 dedlcted

5 outstandinq

Exerdse2a.2 i 26,960 2 10,500 3 9,560 4 944 5 27,900 Exer.ise2a,! 1 F 2 T (hbourandelares) 3 T (ir! paidin lanuaryat the stanol ihe business, andthenaqainin February)4 F(ihetirst unltiespayments n February butthe busineswas atmostcenainly usingutilriesfromthenart) 5 T 6 F(thenegative cashflow s dueto buyingthe nventorylharrhe business needsto qatr tradng) 7 T 8 F(theenu ismadeforthe monrhwhenthecash isactualyreceived, e Febnrary)9 F 10 T

I havea heahhy cashflow 2 be a welesrabtished compary I havedalyoperalng expenses 4 bema.agedoi a dayto-day basis 5 takeadvantage oia lineol credft 6 seesomerh n9.from a *.icl ac.ounling viewpont 7 makean initialdeposrr a .un credt decks t haveheaviydtscounr€d ofie.s 10 havepeGistent sow payngcusromeu 11 negotiat€ extended creditefts l2 9ve an eary paynenrdiscount b es h o no l / ' L n o u lo f .r l d d v a . . /aL p f r o l r .1 1o, w )/ . e ( ep r . inrusion generale/.aise, / injection, hod.9s / reselves, oose/ spare, needs paymeft(intul)/setlemenr,shonage / requircmenis. /shonfaI 1 lurnover 2 deivery ! overd.aft 4 imr 6 dear 7 squeeze 8 fullll

30 Protitability 1 120 2 €200,000 3 2aah/ llAyo 4 operaring everage Exercire30.2 1 A (advedsingisa fixedcosr- seerh€r€xropposte) 2 I (mate.ials isa vaiablecon) Ex€rcise 30.3

1 B 2 C

3 A

31 Financial rnark€ls I foundeB 2 bonds 3 exch€nge rate 4 specuatoB 5 volallity 6 undeyng 7 on b€hafol 8 poi.yhotdeu 9 pool 10 venllrecapilal t1 buy-olts t2 budgetarysurp!s Exercke31.2 beaf/deprcss€d /t ling / weak boominq / boll/ heafthy/r si.g/ strong good/ prolilable / securc / souod/ worthwhie h thjisk / risky/ specu arive 1 qo publi.wth ao IPO 2 I n shar€s on a nockmarker I raise(apitalby issulng bonds 4 paybacka loanwrh inieresr 5 fundshortlermdeblwth 'commercial papei 6 flranpukre the€xchanqe raie 7 chaseshort-term trendsin the nkrKer 8 buyshaEson behaf of a c ient 9 supporia nart,upwth venllre Gprial l0 takeovera company, thenrenruci!reit 1 peqs 2 p.opsup

I floats 4 :pprecates 5 depreciaies

1 crudeol, naturalgai 2 cocoa,cotron 3 wheal,soybeans 4 c.ttle, hogs 5 copper,rcn ore I leveraqe 2 dow.sdersk

168

5 outstanding

3 hedging 4 commod ty contracG

ANSWERKEY

32 Investing in stocks Exercise 32.1 l captalgan 2 index 3 benchmark 4 outperforming 5 diveEfedportfolio 6 pckl 7 SWOT 8 pipeline 9 prospects 10 ba(erstoentry 1l suppod l2 tradinqchannes 1l sentiment 14 eeasona lty 1 m:kea d vdeid payment 2 qlote a bid/ offersp.ead portfoio 4 pastperformanG 5 riskproiile 3 havea diveEfrcd 6 qroMhpospeaG 7 chartpatterns a investor sentimenl 1 netcs 2 earnirgs 3 bufiyourway 4 pofitability 5 oveqc€d 6 shareprice 7 assets 8 capital9an

33 Recruitment

I incentive 2 benett 1 on/of

2 under

3 reward I over

4 fio

5 fo.

35 lssues in the workplace 1 unon 2 enloKe 3 leave 4 norm 5 statuiory 6 hygiere 7 .ut corne6 8 harassment 9 b! lyrng l0 compensation award I I grievance 12 address 13 appea 14 divelsity 15 prec€deni 16 whistebown9 Exer
1 skilset 2 premises 3 alo.ate 4 qualficalons 5 headhufting 6 newrecruits 7 cove6up (for) 8 ookinglhrough 9 tempate l0 rappon 11 rate

9 address a 9r evance 10 enlorcethe rulesstrictly andresolve

I beon a permanent conlracl 2 recruntempslhrough.nagenq 3 workolf the premises asa treeancer 4 alocatewor[ in: lor atob 6 ask dfferc.t way 5 nart ookingelsewherc opei eid€dqueniois 7 locuson achevemenls ratherlhanskills 8 keepan Intervewon lrack 9 do somebackgrolidchecks l0 drawup a shortlisl oi candrdates Ex€r.ise33.3 / h re/ recrllilrakeon €mpoy/ appoint d s m $ / t r e l l a yo l f/ m a k er e d u n d a/ nl et r mn a t e h a n dn y o u rn o t c e / q u i t r/ e s i g/ns t a . dd o w n Exerdse33.4

1 natutory 2 legslation 3 r e g u a t i o n s4 c o m p an l l c a m

1 an app canl/a candidate 2 classfied ad/displayad 3 h th ght/oullne Exerdse33.5 I submit 2 carryoui 3 slcceedin 4 befa(edwith 5 thankless 6 contraci 7 poi.y I mindset

pro(edures 2 worklfebaance 3 healthandsalety I grevance 4 l€qalGquiremenls 5 equalopponlfit es 6 grossmBconducl

I caureior concern 2 alegedbrcachoi dsclpline 3 mitigaring crcumrranc€s4 redeployment5 suspend

36 Your background and career I 9 . a d € 5 2 e \ t r a c L 4 , c Jaa( .l v n € 5 3 d . o p p eod, . d gralr 5 dag?e 6 nrer. ' vo.arolal 8 sLavrlq ol 9 gradualrng 10 hectic 1l b!.nl oul 12 gaven mynotce 13 backpacked 14 setledown 15 vacancy E,(€dse35.2 r geta placear unversry 2 dropoutaftera few months 3 wo yourwaythrough college 4 sp€nda yearasan intern 5 be5hod-lnedlor a tob 6 be promored to Senlo.Anayst 7 G96te.with an onineageocy 8 iinda vacancy anost immediarely

conslderabe /ettensve,dnect/lisr-hand,reevanr/ appropriaie, practica / handron,prevoos/pror limlt€d/ lrte boring/ dead-e.d, challeng n9/ demand.9,de.ent/worthwhile. d e a/ d r e a mm , a.ual/bue{olar,.egllarlsieady

34 Pay and benefits 1 whitecoLarjobs 2 retan ! incremenis 4 pros.ndcons 5 p! In9 theirweght 6 resent 7 undermininq 8 complian.e 9 mandatory 10 dsc.imination 1l disabiiiy 12 lrngebeneits package 2 b:rgai.ingpower 1 compensaton 3 incenivescheme 4 lte nsurance 5 minimum waqe plan 8 end-of-ye.r 6 maternity leave 7 pension bonus

1 n.ke / concenlrate on 2 break/cke off 3 move/beover 4 prcmisnq/ adder 5 chosen / oppofiunites l w a sw o r k r n g 2 h a d j u s t f n s h e d 3 w a s w r i t n g 4 g o t 5 was 6 hadnl contacted 7 wated 8 waslstenng 9 called 10 werewaitnq l1 hada.eadyloundoLi

37 Your cornpany 1 milenones 2 renructuing 3 marketcapitaization 4 slbsidaries 5 overyew 6 competlive advantages7 taiLored 8 o v e G l l 9 s h r i n k l n q l 0 p r o d u c t p p e l n e1 1 m o r a l e 12 commitment 13 malk€tsaruration 14 shoriage

1 retement 2 lfe rsurance 3 penson 1 wage 2 saary 3 in.ome 4 remuneraion 5 overtime 6 commsson 7 royalty 8 bonLs 9 welghtinq l0 perk

produc( 1 ma*ei share 2 productrange 3 a standard 4 socatrends 5 R&D 6 swoT anatsis 7 disvibltionnetwork products l0 annla tlrnover 8 costadvaotaqes9 substitute I bLsinels mode 2 afiordabLe3 founder 4 indlnrynandard 5 stateofthe ad 6 .onsumertanes 7 primelocations 8 turnover 9 ncome 10 continued exparsion

769

ANSWERXEY

41 Telephoning -
38 Your ,ob Exercise !8.1 1 tra.krecord 2 drawsup

3 ove6ee 4 signoff

5 i:ise

I chail€ngng /demandng 2 my boss/mylinemanaqer 3 .oleagle/ cowo(er 4 opposite number / counterpart

1 lt! a reallybadline. 2 Youkeepbreakngup 3 lddn't .atchihat 4 we got cutoff. 5 Thanks for lettng me know 6 lhaveto go now 7 Canyouspeakup a bit? 8 | llst qo outsrde. 9 can yo! hearme.ow? l0 what exactydo youmean b y ? l l L e tm e l l n c h - " ci kh a tl u n d e G t a n d .r 2 A r e y o u s a y i n g t h a t . . . ? l 3 M yb a t t e ri ysv e r yl o w 1 4 W € ' r e g o n g i o g e i c l t off. I5 l'ilgiveyoua calltomorow 16 lhankslor cal n9.

I makeinitialcontact wth a clent 2 takea backseatio.a whib : olersee thewholeprocess 4 handleincomigcalls 5 k-"epon iop of th€lling 6 be on fn( nametems

I cul ofi

l lor 2 n 3in 4ior 510 6al 7 wth 8to 9 n 1 0 w r h 1 1 o f 1 2 o n 1 3 o n/ f @ mh o m e 1 4 o l t o f w o r k/ o i f w o r k 1 5 w o r k / g e t t o / a l 1 6 c h e c k i n g

I R i g h tl/s e e / s u r e 2 Y u h /M h m/ U h h l h ! E x a cyt 4 Thal'sright. 5 Great 6 Thal!wonderiull 7 Dd you7 8 HdssheT 9 Halia mrllon€urosl l0 V etnam I 1 Andwhywasrhal? 12 Sowhatdldyoudo?

1r' 2'

2 speakup

3,/ 4t 5r' 39 Telephoning - making and taking calls

I Greatl 2 Vielnaml 3 Hasslre? 4 Exacty(orThattfght)

I t h i s / s p e ankg 2 n c e / h e a r 3 4 cose/down 5 r€ason / because 6 thought/ might 7 g e t / b a c k / t o 8 e a v /ew i l h 9

1 r'llhaveto stoprhereI havesom€one waitifgto s€e.ne 2 ll! beennicela kng rc you.And I sendih€ delailsyo! wanied by€mai.Bye 3 Anywaylwont keepyo! any ongerl'm sure youtebuty 4 lsth€reantthinqeselcan hep yo! wth today?

1 Doyo! havea second? 2 Doyouwantmelo cal backlater? 3 Areyoublsy rght now?

42 Telephoning - arranging a meeting

I 2 3

I lhisis 2 m€etup 3 a lte moredepth 4 th nkingo{ 5 s u l y o u 6 s h a l l w s€a y 7 s o l n d st i n e 8 l y o u d o n tm i d 9 i n s r e a d 1 0 b em yg u e n r 1 b y l h e w a y 1 2 t w o b o c k sa w a y

I wastun caI o9 to seeif evefihing3OKfor F.iday. lwanledto askyoua questonaboutsirnon. lthoughlyoumightbe nterested in this

1 o!€rrhere 2 for the tme oi year 3 look 4 canl mrk€ t 5 .omeup 6 These rhinqshappen 7 reschedule8 stllopen 9 w o u l db eg o o d 1 0 s o r r ay g a n I I l t s m yp a n s l 2 |

I Howcanlhep yo!? 2 fd Llke to speak 3 Can haveyourname,pe.s€? 4 13 5 hold 6 Ga n f r a n csop e a k i n g7 a s k / a b o l t 8 c a i 1 T (althoughn theorya andc aremorepoite,andb s more

1 s p e a/kt o 2 f o f 3 b e a r / w i 1 h 4 h u s t / n 5 n e e d 6 c a l/ b a c k 7 h a k e / o f 8 n 9 o u l o l r 0 l e a v e 1 r l e t 12tor 13on 14ask 15 make i6 p!r/o. 17on

1 as

2 that

3 any,thing 4 caling

I Hod on a momentl'ljusrcheck. 2 Righr,sofryro keepyou watrnq. 3 I'm sorryblt she3on materntyeave 4 5he3not at herdeskatthe moment 5 Doyo! knowhow onqhellbe? 6 WhatSit I con.eclonwith? 7 Canyouaskhimto callmeb.ck? 8 Ll makeslr€ sheqetsthe message r c 2 h 3 a 1 1e t 2 q

4 j

5 b

6 l

7 f

43 Telephoning - complaints l b 2 t 3 l l l e 1 2r

40 Telephoning - messages

8 i

9 d

r 0 k

1]b

4 h

5 k

25k 3loc 43

6 g

7 a

8 d

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I Canyoule.veii wiih me2 2 'l look nto L 3 l'lger backto youthisaliernoon 4 lndersrafdhowyoulee 5 l.eed !o ch
t70

4 qo over 5 holdof

3 breakirg!p

ANsWER KEY

44 Telephoning - review

47 Emails - commercial

1 in/with 2 from 3 for 4 on 5 outol 6 on 7 back 8 in 9 back 10over 11wih/for 12 up i3 up 14oif 15for t6 of 17wrh 18 inlo/back 19on 20 by

1 stand 2 bDchlre/ specifications / r:ng€ 3 particllarls!t:be 4 draw/attenton 5 meantime / hesitate / dned lne 6 Folowlrg/ attached 7 delivered / atest 8 conditons/terms 9 rhipping / invoices l0 acknowedqe

1 i

1PD 2DT 3PR 4P 5PD 6PR 7PD 8PR 9 P l O D T 1 1P R ] 2 P 1 3P D 1 4 P 1 5 P

2 c

3 9

4 b

5 e

6 a

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1 lust bearwth me 2 Shal putyouthroughto 3 Speaking. 4 Wouldyoulketo l€av€a messaqe? 5 Sorryldidnl catchthal. 6 L e tm e l u srt e a dt h a tb a c kt o y o u . 7 E x a a ( y 8 l l l a s k h e r t o

1 l'd iketo speak 2 whie tryto connectyou 3 Nownrceto h€ariromyou 4 Howarethinqsin Athens 5 isthisa goodtime tolalk 6 lustgv€ mea mom€nl 7 Goahead 8 Thereason 'm callnqis 9 thooghtyoumight be 10 Of couB€ l 1 L e tm e l u nc h e c(k1 h a 0 l u n d e B t a n ld2 c a nl j ! 5 1 9 0 o v et hr a t again rl l'llget backloyou 14 s thereanything ehe l5 thanksfor calng 16 13beenn cetalkingto yoo,too. 1 B 2 C 3 D 4 B 10D lt C 12A

5 C

6 A

7 B 8 B

9 A

45 Emails - basics 1 m witng with rcgardto 2 Please fee freero contactnre f... 3 lookfoMardlo hearing fromyou 4 Thankyouverynruchlor please seldi.gJoL'CV 5 I cdr otse aly lJnl'e'asrsrance, 6 hopeyoutewe 7 Ths isjun a quicknote10 . 8 waswondern9fyou couldhelpme. 9 d .ealy appreclate t. youa copyof t 10 Greatto hearfromyouagaif 11 Shalllsend Exercbe45.2 FirnemairReason lor witing / Bodyof emal/ Finalcomments / Second €m.i:Preliolscontacl/ Bodyol emai/Flna comments (orBodyol Thndemai:Frieidy open/ R€ason lor writig / Requen email)/ Friendy close/ Fnalcomments Fo!rthenral:Frendly open/ Bodyolemail/Ofierhelp/ FriendLy clo5e 1 greatpleasL.e 2 !€ry impr€ssed3 with reg.d 4 usetuldiscu$ion s wondeingif 6 gratefultor 7 hearngfrom 8 AsEquested 9 anattachmenl 10 rclatonto 1l don'lhesitate 12 lurtherassista.ce 1 3 . e 1 4 P l e a s e 1 5 g e lb a c k 1 6 D o y o u w ; n t

46 Emails - internal communiGation

1 ii youhaveanylortherquestions 2 'm confidenllhatwe can supply 3 laho noticethatyoucanpersonalize4 wouldbe happytomakea sample s we do ofierqlaitq dscoun$ 6 l h a v eb e e nl o o k i nagl y o u fw e b s i t e 7 l c a nl n d n o m e n t o n of di5counts 8 youne€dto s€tup a tradeaccourt I lhavebeenlookingat yourwebtit€ 2 ralsonoticerhalyoucan peEonaliz€ I lcan ind no mentionof dscounts 4 l'm confident thatwe cansuppy 5 Wedo offerquanttyd scounts 6 youneedto ret up a tradeaccount 7 wouldbe happyto makea sample 8 ll youhaveanyfunherquestions

48 Emails - cugtomer issues I l'm sorryrolel youthdrlhavero ponponeour me€tn9nexlweek e c c e or tv ) r L e r e 2 Once a g a r p e a 5d a o o o g er
1 s a y / ' l 2 q u i c kn o t e /r e m i n dP/ l e a s e 3 let/ know/ advance /co-operation I heres/atta.hed 2 UnJortunalely / slqnficaody I wanr/to 4 Let/know/else 5 Shal 6 Getback 1 Im pleased to telyou that 2 'm sureyouwillbepleased 10 hearthat. 3 woud alsoiketo takethe opportuniiy to tellyou a b o u t . . . 4 W o u l da l l s t a fpf l e a sneo t et h a t . . . 5 l t h o u g h t y o u ' d be interened to knowthat... 6 | wouldliketo thankyouallfor y o u vr au a b l e c o n t r b u t o n . 7 T h a n kasg a nf o r a l l y o uhre l pl e a L l y apprecate youhavedone. t. 8 l'm veryqratelufor everything

49 Emailg - arranging a visit r d

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4 a

5 9

6 e

7 f

8 b

3 on/from/to 4 at/on

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A e drcppedmeofi / check-in / ex.e$baggage charge / through/ quere/ gate/ rush/ board/ turbulence /toucheddown/ p.ked/rank/stuck/ rp meoff / Eeipt / earlynight

177

ANSWERKEY t heeway 2 ext 3 siqnponed 4 on 5 for 6 miss 7 Turn I pan 9 down 10 bocks 11 on 12 main 1 3 f ol o w 1 4 f o r l 5 o r

50 Emailg - rcview 1 lee / contact 2 shal 3 wonder 4 offer/ hesirale 5 remnd 6 know/do 7 would/take 8 appfe.ate 9 note 10 ponpone ll welcome/dsc!$ 12 send 13lake/r€solve 14 not.e 15 asslre 16 oiier 17 insst 18 crrck 19 acknowledg€ 20 accept Exercise 50.2 a)5/1/9 b)3/8 .)2/10 d)1t4/6 e)14 i ) 1 1/ 1 6 / 1 8 g ) 1 2 l 1 9 h ) 1 3 t 1 1 1 1 5 / 2 o

53 Pres€ntations - closing and questions Exirdse53.1 I thatcove6eve.ything 2 the nextsteps 3 lookat someoptons 4 thereistheopiionio 5 generated a ot of discusson 6 maybeforced 7 woud eadto 8 somed fficllt decsons 9 ourjobisto conslder l0 qivethefloor I poini 2 explain 3 experienc€d4 for 5 op non 6 catch 7 scope/.ftetuards 8 glad 9 on 10 mLn/.ome 1 1 s p € cci i 1 2 c o m m e n t 1 3 h a n d / b a c k 1 4 c o ( e c t y ExeKise53.3 b ) 2 / 6 / 1 1 / 1 4c ) 5 1 1 Ad ) 3 / 1 2 e ) 1 / 1 3 dllA fl 4/9

54 Presentations - k€nds I

l note 2 remnd 3lnalzed 4 attached 5 evenl 6 attend 7 qetback 8 co operalion 9 re l0 pot 11 ctc! ate 12 makesure 13 te 14 done

1 grow/expand 2 lal / d@p 3 improve/recover 4 slaylhe eme / bestable 5 moveh qher/ rise 6 evelotf / slabilze 7 shrnk/contract 8 edgedown/ dip

l e 2 h 3 9 4 n 5 6 d 7 a 8 c a J 1 01 1 1f 1 2 b 1 l m l 4 k Exercise 50.5 I w i t h / t o 2 n / t o 3 l o r 4 f o . 5 b a c k / t o 6 o n/ o v e r 7 in 8 at/ n t h/fo. 10about/irom ll h 1 2 I o t / a l 1 3b y / a t 1 4o n 1 5w i l h

1 boom/oash 2 double/halve 3 edgeop /dp 4 grow/shrink 5 .nprcve / deteorate 6 peak/h t a row 7 n a yt h es . m e/ v a r y 8 r s e / l a

1 9on9 2 wonderinq 3 €qoesred 4 caused s Folowinq 6 dong 7 made 8 hearing 9 using l0.oncerned 11 getting 12 buying 13 arached t4 foRarded

51 Preseniations - opening Exerclse 51.1 1 Or behafof 8CCl'd lke to . . 2 cao everyone seeat rheback? 3 lusl a few wordsaboutr,rysell 4 Im in chargeof plbk relations 5 l ' d l k et o s h o wy o L r. , 6 l ' l t a l ka b o uol u rm . r k e l . n dh o w . . . 7 l/ lmoveon to dscusscunomization 8 Welocuson talonngour producls.. 9 I veyoua lilte iechncalbackground 10 Let! b e gn w t h t h s i 6 l s l i d e l c 2 e : h Exerdse51.3 r h 2 e 3 1 1| 1 2

4 b

5 l

4 9

5 . 6 j

6 9

7 . 7 a

8 d 8 d

I wenluplgone up 2 grew/grown I rosd/ nsen d lell/ laller 5 g owlr 6 pxpalsror 7 .olv"clror 8 mprovemeft 9 recovery l0 variaton 11 hal

r rapid 2 q€dua 3 sluggsh 4 enormous 5 moderate 6 slght 7 excellent 8 eicouraqing 9 disappoint nq I slowgrowll' 2 ngrlcalr lse 3 rapddelelo.ano. 4 slghlimproveme.t 5 considerable variation l fiom 2oi

3to

4by

t haveseen 2 s c.lsing

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6at

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55 Prcsentations - trends ll 9 k

l 0 b

1 discus 2 gve 3 show 4 talk 5 rcpod 6 look 7 fill 8 take 9 brinq 10 make 11 outline 12 dea

52 Prcgentations - main body I leads 2 menioned 3 coneback 4 d qress 5 in moredetail 6 concreie erample 7 focuson 8 nre$ 9 As/can see l0 hghight 1l What s 12 relaie/ context

1 B e c a oqs leo u r . . 2 B e c a uos + e w ec l r . 3 du€!qolr increased. . 4 a rcsultol:olr... s resulted i! a s gnilicant. 6 resulled 6f tom dillcult... 7 whereas it fell... 8 Mofeover, they 9 In spiteof lhe fac(that . . l0 Desptere delaying 1 dueto 2 eventhough 3 n spiteoi 5 Howeve. 6 Moreover cxenise55.3 1 d 2 . 3 e 4 c 5 b

4 asa r€sut

1 axis 2 hqhlght 3 reached a peak 4 hav€beenlat 5 a slqhtinoease 6 Notce 7 in linewith I morerapidly I havea Look 2 highlight i\ryothinqs 3 notice 9 rcuqhly l0 while 11 mplicatons 12 Although 4 you.an seehow 5 My ownview 6 emphdize 1 3 h g h l yl k e l y 1 4 .e a d t o 7 a t t h sp o n t 8 e t s9 0o n Exer.ise52.3 55 Presentations - rcview passesove.these//iheyactlkearrfoils//andthis 1 Aslhewind g e n e r a tlei ts/ / a n dt u r n s t h set r u c t uar e sa w h o l e 2 l l s m o E l b 2 g 3 h 4 d 5 a 6 c 7 f 8 e 9 j 1 0 efir.ent n termsof energyproduction, andits alsomoregablewilh llp 1 2 k 1 3 m 1 4 r 1 5 i 1 61 1 7 q 1 8 n 19s 20o 2 tak aboul 3 dealwiih 4 turn myatienionlo 6 expan 7 cover a consder 9 menton

772

ANSWERKEY I l ' v ed ! d e d m yt a l ki n t o t h e em a i np a r t s . 2 I t y o u h a v e a n y quesuons, please feellreeto lrterupr. 3 Let! examinethis in more detai 4 Junto d gressfora moment,... 5 OK,thatSal I want point. ro sayabouttheinst point 6 Le15moveor tothe second 7 M yo w nv e w o ni h s i s 8 Asyoucanseeo t hni s n e r t s i d e , . . . 9 Whatisthe reason forths?lhe reason is 10 Letmeexplain wth a concEteexampe. 11 beganbyte lingyoua linleabout. . Thenlexplan€dhow . Afterthatltalkedabout... 12 Thankyou al ior comig aid hope1! beenuseful. 3 with 4 on to 5 io 6 back to 10 n/of 1l lot 12 nlir

Exercise 56.4 1 nad/ ntoducng 2 digress/momenl 3 useiu/background 4 examine/deta 5 €xpan/concrele 6 highight/ diagram 1 d-)at-t a e.r 8 b'i19s/erd 9 erpan/again 1 0 q u e s t o n / o p i n i o n1 1 s . o p e / a f t e N a d s l 2 t m e / q u e s t i o n Exercise 56.5 1 Notce 2 axis 3 ufits 4 draw 5 rose 6 neadily 7 havecontnued 8 alhough 9 steady 10 groMh 1 1 d u e1 0 1 2 E v e sn o l ! o n 1 4 o v e r 1 5 t o 1 6 n q u e 17 ookat 18 look off 19 we.ercaly ookinggood 20 haddone 2l However 22 hasbeen 23 sudden 24 drcp 25 feasons 26 about 27 comrnetus 28 highly 29 likely 30 by

57 Meetings - opinions 1 what 2 in mind 3 seerns to me 4 mypoinlol view 5 agree 6 Youterighr 7 up to a pont 8 youmean Exercbe57.2 1 However 2 Adually 3 Luckiy 4 obvously 5 hgenera -Feooiir 6 s 7 E a s i c a l ?S B y r t e w d y 9 n a y o p r . i o . Exercise 57.3_ 1 Strongdsaqreement 2 Polrte degreement 3 Notgramrnalica ly possbe 1 Realy?Doyouthinkso? 2 'm notsosure.boutthat 3 l'm sorrythat3not howlseei1 4 | reay can'iagreewithyo! rhere. Exercire57.5 1 b 2 c 3 a 4 9 5 d 6 1 7 e

58 Meelings - making things cleai I rnssed/say 2 cear/ saying 3 4 arrive/lgure 5 exactly / mean 7 alow/expiain 8 ittle/ specifk

i u.derstand /expa n 2 throoqh 3 over 4 s l g h tm s u f d e f i t a n d i n q5 p u t / w a y 6 c o m ei n 1 whal 2 how onq 3 when 4 howoften 5 who 6 which 7 howmr.h I where

59 Meetings - problem-solving Exercise 59.1 1 several/d,aawith 2 openlp/vies : suppose / riqht 4 sounds/workn praciice 5 pros/cons 6 Ontheonehand/ on the otherhand 7 makea suggenlon/nnead/why do.'t I implcatons 9 genera/altholgh 10 besiwaylotuard

Exer.ise59.2 1 OK,leis do that. 2 Whatabout.. ? 3 Thatba complet€ waste oi time 4 Whydon'twe ..? 5 Yes,thatwouldworkrealy well. 6 5hallwe ? 7 Thatsoundske a qoodidea 8 Can makea suggeston? 9 ca. seeoneor two probemswithihat. 10 'm not realyslreaboutthat. 11 ThaimLght bewonhtryinq. I 2 I donl thinkit woud workin practice Exer.ise59.3 a )2 1 4 1 6l a b ) 1 / 5 / 1 / 1 1 . J 3 / 9 / 1 0 / 1 2 I apoblem 2.elulon

3 a s L g g e s t i o n4 a d e o s r o r

1 a€ fac€dwith 2 tacke 3 lqure out 4 worktowards 5 comeup with 6 endsweightto 7 impement 8 h€sbehind

60 Meetings - leading a m€eting ' F . g h/l: l d ' 1 z r l / d p o o q , e l r L r o*rl p e p I S , b e S i l 4 b a t h r o o m / h a l 5 c o p y / a q e n d a6 t a k e /m r u t e s /9"r'11'ol9q / eylwo'd: I baCgoLrd,Jsel-l 9 dgerdd l 0 b l e f / p o i n t l 1 s t r a i g h t / i t e m1 2 k i c k / o f l I agenda 2 mnutes 3 qetthrough 4 item 5 kickoii I AmE 2 8rE I rrhinkwe cansloplhe.e. 2 Id iketo sum!p. 3 Thereare l h r e em a i nc o n c l u s o n s4. I n r e r r n s o i a c t i o n p o n t s , . ,5. A r e rhe.eanyoiherpoinis? 6 Havelmssedafy'rhngT 7 ihink t wasalery lseiulmeetrig. 8 | c rcllatelhe minues. 9 Carrwe l i xa d a t en o w ? r 0 C a . j l s t h a v e a q ! c k w o . d w t h y o ! ? ExeKiee50.5 I coLrldyoujun hangon a momentplease? 2 Ofe at, tme, pease. 3 Lelsl€a!€th.t asd€for themoment. 4 Canwe come backro rhislarer? 5 lthink we needto ookalths in moredetai. 6 Weneedto analyze thisin a ittlemoredepth 7 lsther€anylhng eseweshoudcoisder? 8 whal othe.ways arethereto approach rhis) 9 Canwe 9o roJ.d tlêlabe lo see,fever/oreag?ei I 0 Lets90 overwhatwe'ved sclssed sofar.

61 Meetingr - negotiating I 3 prlorities 4 mean 5 tfirn 8 mnmum 9 concer. 10tmes.ae ll quoted 12 march 1 l € a s o n a b e 1 4 g u a r a n i e e knd oilson ot / discount / limesca e / think.q of / lalkingabout/

I qlite high 2 wereyo! expearing ! Someth n9 around 4 iandad forths market 5 a ltte ow 6 suchlargediscolfts 7 solonq 8 haven mlnd 9 production schedule 10 iems of p.yment I1 pre-payment 12 €gu ar customeu

AIIIiWER KEY

62 Meetings - negotiating tl EJGrcise 62.1 I minimuhorder 2 viabe/con-etfectve/run j p.e-payment / lrct time 4 upfront 5 'll advan.e / batafce/detivery / cashftow 6 authority / by myself

let meput il another way fhe chankeepsthediscusi@novinq leavethataside/ relev:nt Camileiu99es6 rhe nst steps

I vable 2 uplronr 3 baance Exeftise62-3 1 p r e i e r / o r d € r2 p r e p a r e d / t e r mjs h a v e / m n d 4 a c c € p t / c o n d t i o n5 w t t l r g / . o m p @ m k e6 s h o u t d / p o s i b t e 7 sorids/ reasonable8 momenr/revew g throlq / rd. l0 qolstage 11 cose/deat t2 jlst/sqn

fhe
Absolutely / actonpoints Ihe cbdi checksag.€menr qo.oundthe table/moveon atter sometine, the chandosesttp neeting m p u l / u s e t u l / fti hr e t m e / h a v a e q u k kw o r d

2corder/4b discounr / 3a proposat/td deal la detals/ td deadlre/ 4b concess on/ 2c compbmise

63 Meetings - diplomatic language a ) 1 3 b l 4 / 1 3 c )8 d ) t € ) 8 f l 1 t 9 h )4 / 6 / 7 i ) 1 / 2 l 1 A cxeKise63.2 r e 2 a 3 j 4 b s c 6 9 7 h 8 i

s)12

9 d

t o i

1 Therebjlstonerhing d tikelo add. 2 Tobehonest, that woLlb d el e t d ' 4 c rI ? t l s € e r s - o n e t r l y o L r e o e i n g pa t i r Wo"td.I n bebelFrro Jse.d,trarsponi oot "r|cly, 5 Actua th s ine s norveryproftabe. 6 trhinkir m ght be bener ro reave lhat pofl u.til ate. I l $€ ordereds.000oe.es.s1ai so.lo, dEcor1rloud yoL9ve) / | you!il! 5u%r advd Te. wesojd giveyougererourrermslor

64 Meetingr - rcview fhe .han ooe.s the heting Rlght/thanks lof coming/ sendshs apotogies / housekeepinq / short break/copyoi theagenda / rakethe rninotes / sr€ight/ item/ kickofl Matek prents lone altenati!$ d e a l w i t thh s s 5 ! e / p o s a n d c o . s / o p l o n / l a v o l r / a t t h o u g h Thechat asksCanile far het rca.tion. i e d / h a v es o r ne x p e r l e . c e upto a point/ true/ tryinglo say/ put it simpy

Cahile repeas

I getd@n 2 areyo! tooking 3 miqhrbeabte 4 drdyouhave 5 Insread ol 6 :re wetatkino 7 a viableoption 8 upiroit 9 reatynot su€ l0 movingioeard I I areyouhappy t2 be prepareo 13 solndsreasonabl€14 hav€a de.l I Ihat mightbequheexp€ns ve 2 Wewoutdwaft a signifcanry ra.gerd6counl. 3 Thee! jun onelhingtd tke io d t 4 Wouldnl il beb€ter10tplit theorde.intonro consignments? 5 'm not tolallyconvinced by ths eninare. 6 tundeEtood we couldhaveihe produ.tson a ria basis 7 Whatso ot qlantty we€you lhinkingot? 8 Unlonlnatety, r m.y not beveryeasyro arrange that 9 Wetehavingoneortwo ssoes ai ourf.ctoryright now 10 Tobe hon€sl. we wereexpecting a Mo-yearwafianly. ll lr seems lo meth.t yournewfanqeis moreor tessr e s.meas youroErange. t2 wouldn,lit beeaserto paya intemorcafd shipthe goodsbyAif Express?

65 Susinessrepofts and proposals - repoats I Et€ftke 65.1 1 execurive summ.ry 2lndings 3 coverpage 4 fecommendarions 5 contenrs 6 p.ocedure 7 appeidx a termsol EIer€nce 9 conctus ons 10 acknowtedgements EreEie 65.2 1 l 2 n 3 b 4 q 5 l 6 e 7 m 8 l 9 i j O c rh 129 t3p 14a 15k t6o t7r 18d

66 Businesi rcports and p.oposals - repods ll

Thechat block ke intenuptian lln et / ilnish/comeback cotred/wrong/ seems Marckcone.tsthe nisuntletstanding expa ied riyselfcleary/meanr/trying/ matteiof lact adnananakesa suqgestion Matekrek.ts thesuqgstion s o u n d s / w o rnkp r a c ( . e p/ o i n r rhe .han widss thedb.u$ian approach / anyrhing e se/ consider camillegjvesan opjnih carefully / imp caiions/on ihe ofe hand Adnanafacues the discussion arar2e/ iitile/ depth/ tend Marck asksfar clarifiGtioh

774

I lhrssolution 2 share/
67 Businesgreportg and proposals- proposals I 1 scope 2 Gantt.han 3 deiverabes 4 stare-of-the art

ANsWERKEY 1 .ut/shorten 2 positon/ eadingplayer 3 secondary 4 co.duct/ survey 5 in-depth 6 extensive/lield 7 rcmaining / absorbed 8 cost€ffediva manner 9 long-laning

r b

2 b

3 b

b

2 d

3 d t .

4 b

68 Buginesgrcports and proposals- pioposals ll I reducebaddebt 2 outsource to emovefixedcostsfromthe paym 3 nceasetheabsolute vaiueoi e.chlr.nectior 4 eihancejobpedormance 5 reduce tumwerahongkeynalf membe6 6 enhance mantainablily 7 complywith €gulatory standards 8 conformto a sp*iic quaity meihodolog, 9 preserye theva!e ol egacysynems 10 reduce dNntime 1l irnpemenlthe mostprovenapproach 12 addrcss health andsafet ssues 13 avoidlablilyconcems 14 focuson core Exer
69 Bqsinessreports and propotals - linking words l d 2 h 3 a 4 g 5c 6 b 7 i 8 j 9 e 1 0 i Exercise 69,2 lie 2e9 Exe(ke 59.3 I Moreover 2 n conlGst 3 .tact 4 lngeneral 5 Theefore 6 I np a n c u l a r 7 O v e r a l 8 Clearly Ercr.lse 69.4 1 Regardng 2 Cleady 3 rnpadcuaf 4 n fact 5 rvlo€over 6 Onthewhole 7 However I 5econdly 9 forexample l0 So 11 whereas 12 Onbaance

70 Businessreports and proposals - review I Thisreponwascommisonedby Ha.sOberlander, CEOof theALito Corporation 2 am 3 oi m;rket 4 ln padiculal 5 steadily 6 signicant 7 Onthedemand side 8 research shows 9 are keyio 10 an impact 11 sLchas 12 dfappointing 13 marketresearch company 14 ca.ryolt 15 concern 16 typicaly 17 areLnableto 9o verylast 18 findinqs 19 io owlng 20 inceasngly 21 tend 22 dueto 23 main 24 payn9moreatentionto 25 linancialresolrces

We proposeto conducta reviewof yourstoreto seehow Cosed (ccM cameras CncuitTelsision couldbe usedmon efiectvely,and thencomplete the installation of ihe synem Yourgoalislo educeshoplftingbyinnalling wallmountedcameras yourstore,andto havetheseInkedto monitoEat a cent.al inside Thepojectwil in.udethefolowngaclivities: a ldentityih€besllocatonsforCCWcameras andlrna ihe cameras a ldentiJy the bestlocatonior a centralsecur iy desk,wrththe presence moniloBanda visible of secuitype6o.nel. A timelable tor thediffe@riphases ol the prolects included asan appendix. Westimatethattheloialtimeequnedforthisproj€clis oeliverables rorth s ploiecrwil include a Approximately 30 CCWcameras, wilh two asso.iated monitoEat thecenrral desk,allf!ily instaledandchecked. o All additional materials suchascables etc. we rccommend thatyouconlract burcompanylointrala ccry syneminsdeFashion Supe6tore. Thissynemwil dramati(aly reduce yourlosesduelo shoplflng Ou.approach isbasedon ourMentyyea6 erp€.en
Capabilitie6

Understandinq yournocklosses

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17

ANSWER KEY

Intewiews I Interview with a private equity invedor I equity/ debt 2 buildup/ brcakdown 4 playels/ lawyels/ tax

3 eiit

2 Interview with an entrepneneut 3 4 6 8

havegood insinc6 aboutotherpeople donl go to 5 rclk alongsidedploy€es getboredquicky 7 ned a goodieambehindlhem difficult

3 Intorviow with a managemer*trainee a testfor numecalandproblem-rolving skilb an interuew \4ith an HRmanagerwjth nomal job-r€latedqu€stions lJrci. wieresocialskrlls aleobr€to€d a .oleplayexercise io test management skillt a teamwo* ten wherca grollpof peopledil(|issa scenarioand choo5ethe ben idea 6 a rcportwiting exercise 1 2 3 4 5

4 Intervlew with a supply .hain rn.nage. 1 F(f |sttlersupplier andsecond tiersupplier a€ r€ae6,ed) 2 f 3 F 4 r 5 Interview wlth a 9ale9 managet seesnpr

6 Intervlew with a mark€ting dilactol Product b

Priceb

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7 htervi€w with . financedlEctor 1 receivable 2 overdraft 3 cashflovv 4 sheet 5 invokes 6 variance 7 gov€rnanre 8 auditoE

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