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Faculty of Economics, Split

ISBN 978-953-281-040-0

English for Business 1


Undergraduate Professional Program
Small Enterprise Management
1st semester

Author: Gorana Duplani Rogoi


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Split, September 2010

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Izdava:
Sveuilite u Splitu
Ekonomski fakultet Split

Za izdavaa:
Prof. dr. sc. Branko Gri, dekan

Recenzenti:
Doc. dr.sc. eljana Aljinovi Bara
M.A. Jasmina Rogulj, prof.
Tehniki urednik:
Diana Mijaika, dipl. oec.
ISBN 978-953-281-040-0

Adresa izdavaa:
EKONOMSKI FAKULTET
21000 Split
Matice hrvatske 31
tel. 021 430 600, 430 601
fax. 021 430 701
http://www.efst.hr

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mr.sc. Gorana Duplani Rogoi

ENGLISH FOR BUSINESS 1

Split, 2010

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ENGLISH FOR BUSINESS 1


for Undergraduate Professional Program of Small Enterprise Management
INTRODUCTION
The course English for Business 1 for the first-semester students of Small Enterprise
Management includes six topics: Careers, Selling online, Companies, Great Ideas, Stress and Entertaining.
One part of the teaching material is provided by the course book and workbook Market Leader,
NEW Pre-intermediate (Cotton, Favley and Kent, published by Pearson Longman in 2003).
This book is intended for students who need professional communication within the hotel and
tourism industries.
The syllabus is based on topic areas and professional skills relevant to the students. It also
incorporates a related comprehensive grammar and vocabulary syllabus and systematic work on
speaking, listening, reading and writing. Each unit deals with an area of the hotel and tourism
industry and related professional skills such as talking on the telephone, recommending sights
and taking orders in restaurant, taking reservations. Although the four skills - reading, writing,
listening and speaking - are practiced and developed in each unit of the course book, there was a
need to expand the topics covered in the book with some additional materials.
Therefore, each of the six units in the course book is accompanied with extra exercises
that provide further practice and consolidation, and also expand the material course book.
Emphasis in this web edition is put on further developing speaking, reading and writing skills.
The teaching material comes from a wide range of sources related to the hotel and tourism
industry, travel- and tourism-related websites and so on. The varied tasks (multiple choice,
matching, crosswords, gap-fill exercises and others) in each of the units are suited to the need of
hotel and tourism students, providing many opportunities for students to use their existing
knowledge of English and the new input in a wide range of contexts relevant to their field. Tasks
in this web edition provide students with practice in various real-life situations, from writing CVs
and cover letter, to taking reservation by phone to discussing the roles of departments in a hotel,
to name only a few.
The main objectives of this additional teaching material are: helping students develop
their four skills further and enabling them to discuss business-related topics in more detail than
they would be able to using only the course book.
Author
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KEY TO SYMBOLS AND ABBREVIATIONS USED IN THE BOOK

= vocabulary
= writing task
= speaking task
= reading task
= Internet task
= grammar review
= pronunciation helper
AmE = American English
BrE = British English
HR = Human Resources
pl= plural
abbr = abbreviation
C = countable (noun)
U= uncountable (noun)
sb = somebody
sing = singular

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CONTENTS

INTRODUCTION ..................................................................................................................................vii
Key to symbols and abbreviations used in the book .........................................................................viii
UNIT 1: CAREERS ................................................................................................................................. 5
Introduction ................................................................................................................................................ 5
Recruitment and selection ......................................................................................................................... 6
Applying for a job ....................................................................................................................................... 8
Curriculum Vitae or Rsum ..................................................................................................................... 9
Cover letter .................................................................................................................................................12
Work and jobs............................................................................................................................................15
Departments in a company ......................................................................................................................19
Language review: Modals 1: Ability, requests and offers (Can, Could, Would) ...............................20
Unit 1: Glossary .........................................................................................................................................22
Unit 1: Exercises for self-study and revision .........................................................................................28
UNIT 2: SELLING ONLINE ......................................................................................... 40
Shopping ....................................................................................................................................................40
Retail vs. wholesale....................................................................................................................................41
E-commerce ...............................................................................................................................................43
Useful language: negotiation ....................................................................................................................46
Language review: Modals 2: Must, Need to, Have to, Should............................................................50
Unit 2: Glossary .........................................................................................................................................52
Unit 2: Exercises for self-study and revision .........................................................................................61
UNIT 3: COMPANIES ..................................................................................................... 72
Industry ......................................................................................................................................................72
Business and businesses ...........................................................................................................................74
Types of business entity ...........................................................................................................................75
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Ownership of a business ..........................................................................................................................77


Company abbreviations ............................................................................................................................78
Describing companies...............................................................................................................................79
Language review: Present Simple and Present Continuous ................................................................81
Unit 3: Glossary .........................................................................................................................................83
Unit 3: Exercises for self-study and revision .........................................................................................89
UNIT 4: GREAT IDEAS .....................................................................................................................95
New Ideas ...................................................................................................................................................95
Innovation & Invention ...........................................................................................................................99
Patents and Intellectual Property ......................................................................................................... 100
Language review: Past Simple and Past Continuous ......................................................................... 102
Unit 4: Glossary ...................................................................................................................................... 104
Unit 4: Exercises for self-study and revision ...................................................................................... 109
UNIT 5: STRESS ..............................................................................................................121
What is stress? ......................................................................................................................................... 121
Work-life balance.................................................................................................................................... 124
Language review: Past Simple and Present Perfect ........................................................................... 126
Unit 5: Glossary ...................................................................................................................................... 129
Unit 5: Exercises for self-study and revision ...................................................................................... 135
UNIT 6: ENTERTAINING ........................................................................................... 143
Culture...................................................................................................................................................... 143
Cross-cultural communication ............................................................................................................. 144
Corporate Entertainment or Corporate hospitality ........................................................................... 147
Small talk.................................................................................................................................................. 148
Language review: Multi-word verbs .................................................................................................... 150
Unit 6: Glossary ...................................................................................................................................... 151
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Unit 6: Exercises for self-study and revision ...................................................................................... 156


LIST OF WORDS COVERED IN BUSINESS ENGLISH 1 ...................................................... 165
BIBLIOGRAPHY ................................................................................................................................. 168

UNIT 1: CAREERS

INTRODUCTION
CAREER is a term defined as the progress and actions taken by a person throughout a
lifetime, especially related to that person's occupations. A career is often composed of the jobs
held, titles earned and work accomplished over a long period of time, rather than just referring to
one position. While employees in some cultures and economies stay with one job during their
career, there is an increasing trend to employees changing jobs more frequently. For example, an
individual's career could involve being a lawyer, though the individual could work for several
different firms and in several different areas of law over a lifetime. A career is mostly seen as a
course of successive situations that make up a person's occupation.
STAGES IN

A TYPICAL CAREER.

Stages in a typical career might be as follows: going to

school, going to university, getting qualifications in . . ., getting a job in a company; moving to


another company (or companies) or even staying in the same company all your working life;
retiring. Some people decide on a career plan while they are still at school or university. Some
people prefer to work for one company during the entire career, while others prefer to work for
several different companies that may offer them various career opportunities.
HISTORICAL

CHANGES.

In societies before modernism, many workers would often

inherit or take up a single lifelong position (a place or role) in the workforce. As the idea of
progress and of the habits of individualist self-betterment spread, careers became possible, if not
expected. By the late 20th century, possible choices (especially in the range of potential
professions) and more widespread education had allowed it to become fashionable to plan a

career. It is also common for adults in the late 20th/early 21st centuries to have dual or multiple
careers, either one after another or at the same time.
RECRUITMENT AND SELECTION
RECRUITMENT

Recruitment (or hiring) is the process of identifying that the organization needs to
employ someone up to the point at which application forms for the post have arrived at the
organization. The stages in recruitment include sourcing candidates by advertising or other
methods, and screening and selecting potential candidates using tests or interviews. Selection
then consists of the processes involved in choosing from applicants a suitable candidate to fill a
post. Training consists of a range of processes involved in making sure that job holders have the
right skills, knowledge and attitudes required to help the organization to achieve its objectives.
Recruiting individuals to fill particular posts within a business can be done either internally by
recruitment within the firm, or externally by recruiting people from outside.
AGENCY TYPES

The recruitment industry has four main types of agencies:


employment agencies,
"headhunters" for executive and professional recruitment,
in-house recruitment, and
recruitment websites and job search engines.
All of these agencies try to channel candidates into the hiring organizations application process.
As a general rule, the agencies are paid by the companies, not the candidates. The stages in
recruitment include sourcing candidates, screening and selecting potential candidates using tests
or interviews.
EMPLOYMENT AGENCY.

An employment agency is a traditional type of agency. It is an

organization which matches employers to employees. In all developed countries there is a


publicly funded employment agency and multiple private businesses which also act as
employment agencies. Recruitment agencies have historically had a physical location. A candidate
visits a local branch for a short interview and an assessment before being taken onto the agencys
books. Recruitment consultants then work to match their candidates to their clients' open
positions. Suitable candidates are short-listed and put forward for an interview with potential
employers on a temporary ("temp") or permanent ("perm") basis.
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HEADHUNTERS. A "headhunter" is industry term


for an employment recruiter who seeks out
candidates, often when normal recruitment efforts
have failed. Headhunters are generally considered
more aggressive than in-house recruiters or may
have preexisting industry experience and contacts.
Due to their higher costs, headhunters are usually
employed to fill senior management and executive level roles.
Headhunters are also used to recruit very specialized individuals; for example, in some fields,
such as emerging scientific research areas, there may only be a handful of top-level professionals
who are active in the field. In this case, since there are so few qualified candidates, it makes more
sense to directly recruit them one-by-one, rather than advertise internationally for candidates.
While in-house recruiters tend to attract candidates for specific jobs, headhunters will both attract
candidates and actively seek them out as well. To do so, they may network, cultivate relationships
with various companies, maintain large databases, purchase company directories or candidate
lists, and cold call prospective recruits.
IN-HOUSE RECRUITMENT.

Larger employers tend to undertake their own in-house

recruitment, using their human resources department. In addition to coordinating with the
agencies mentioned above, in-house recruiters may advertise job vacancies on their own websites,
coordinate internal employee referrals, work with external associations, trade groups and/or
focus on campus graduate recruitment. While job postings are common, networking is by far the
most significant approach when reaching out to fill positions. Alternatively a large employer may
choose to outsource all or some of their recruitment process (recruitment process outsourcing).
RECRUITMENT WEBSITES AND JOB SEARCH ENGINES.

Online recruitment and the use of new

emerging technologies have many advantages for the modern recruiter. It makes the process of
finding candidates and new business opportunities quicker, cheaper and more efficient. The
Internet, in fact, has completely revolutionized the role of the traditional recruiter. Now it's about
searching through hundreds of thousands of CV's placed on personal web pages and browsing
online corporate staff directories.
The process of personnel recruitment using electronic resources, in particular the internet, is
referred to as e-recruitment or e-cruitment. The companies and recruitment agents have
moved much of their recruitment process online so as to improve the speed by which job
candidates can be matched with live vacancies. Using database technologies, and online job
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advertising boards and search engines, employers can now fill posts in a fraction of the time
previously possible.
Sources of recruitment can also be divided into internal and external recruitment. InHouse Recruitment is an example of internal recruitment (transfers, promotions, uprading,
demotion, retired emploees) while employment agencies, "headhunters" and recruitment
websites and job search engines are all examples of external recruitment.
APPLYING FOR A JOB

A vacancy (a job that no one is doing and is therefore available for someone new to do) is
usually advertised (on the Internet, in general newspapers, job ad newspapers, professional
publications, window advertisements, job centers, and campus graduate recruitment programs).
An advertisement for a job includes important basic information such as: company name,
location of the job (division, department, branch, section, etc.), job title, a description of the role
and duties of the employee within the organization, hours of work, closing date; where to submit
application (phone, mailing address, e-mail address, fax number). The job specification also gives
criteria about skills, experience, qualifications, personal qualities required from potential
applicants and special demands made by the job (e.g. physical conditions, unusual hours,
travelling away from home), and terms and conditions of employment (salary, benefits,
bonuses, working hours)
Vacancy, situation, post and position are formal words often used (instead of the word
job) in job advertisements and applications. Suitability for a job is typically assessed by looking
for skills, e.g. communication, typing, and computer skills. Qualifications may be shown through
Curriculum Vitae or rsum, job applications, interviews, educational or professional
experience, the testimony of references, or in-house testing.
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CURRICULUM VITAE OR RSUM

If you want to apply for the job, you will send your Curriculum Vitae (or rsum in
American English) and a covering letter (or cover letter in American English) explaining why
you want the job and why you are the right person for that job. A CV is an essential tool in the
job search process. It is typically the first encounter with your potential employer; therefore, you
(an applicant) want to make a positive first impression by presenting a CV that will lead to an
invitation for a job interview. A CV or a resume is a document that conveys how your education,
work experience, and other qualifications match those identified in the job description. Hence,
your goal is to have the CV be a reflection of the job description. A well-developed CV should
intrigue, inform and focus on educating an employer as to why they should call you for an
interview. So, how do you put together a CV that will get you an interview?
First of all, think about how your skills, education and experience compare with the skills
needed for the job. Spend some time researching the job you are interested in as well as the
company. This will help you catch the employer's eye and show that you are suited to the job.
Each job is different, each company is different, and your CV needs to change too. The basic
structure can stay the same, but think about the job you are applying for and adapt your CV to
show how your skills and experience match the requirements of the job.
There are three main styles of CV:

the reverse date order CV (also known as the reverse chronological CV)

the functional CV

the targeted CV

The basic structure of a CV is:

personal details - name, address, phone number, e-mail address and date of birth.
Rather than heading the page 'Curriculum Vitae', which does not really need saying,
simply use your name.

personal profile - this section is optional. It is basically a very brief summary of your
skills, experience and achievements. If you choose to include this, keep it to just a few
lines - you can highlight examples of your skills in later sections.

qualifications and education - keep this relevant. Do not put down your 100 meters
swimming certificate unless this is required for the job!

work history - this can include for example work experience, paper-rounds, voluntary
work. Start with your most recent experience and work backwards. List your major
responsibilities and achievements for each job.
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leisure interests and other activities - only include these if they are relevant to the job.
Do not make things up here as you may well be questioned on them, particularly if the
interviewer shares those interests.

references - these are the names and contact details of two people outside your family
who know you well. You may choose to ask a teacher/lecturer or previous employer. It is
not essential to include these. You can just write 'available on request'.

The Reverse Chronological CV


This is the most popular format and is
generally the one preferred by the majority of
employers. It presents your most recent (and
probably

most relevant) experience

or

qualifications first and works backwards.


This is the most common style of CV. It lists
your education and work experience in
reverse date order (most recent first). Skills
and achievements are built into the CV
against the relevant experience.

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The functional CV
The functional CV is a useful format if you have little or no
employment experience because the emphasis is placed on
achievements, experience and skills gained elsewhere.
The structure of a functional CV is usually as follows:

personal details

details of skills, abilities and achievements under


relevant headings

work history just company and position held. It may


not include work history and dates of when and where
you acquired your skills and experience.

education

other relevant information

(If your educational qualifications are good, you may want


to place these before the skills section)
The targeted or combination CV
This is similar to the functional CV in that the
emphasis is on skills and achievements. However,
with the targeted CV, these are listed under headings
which relate to the job or field of work you are
applying for. For instance, if you are targeting a job in
retail, you might list skills and achievements under
headings

relating

to

customer

service

skills,

numeracy/cash handling, computer skills and so on.


This type of CV combines the chronological and the
functional format with emphasis being placed on
related skills, but would also include a section on work history and dates. If you choose this type
of CV, make sure you are absolutely clear about the specific requirements of the job.

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Although different countries have different practices for writing CVs, there are some golden
rules you need to follow.

Pay careful attention to spelling, punctuation, grammar, and style

Proofread carefully. Do not rely on spell check. Use a dictionary. Ask others to
proofread your resume.

Arrange information in a logical manner

Should be easy to read with space between each section; neat in appearance

Provide honest, clear, and concise information

Avoid large areas of text - use note form instead of long sentences. Break up text with
bullet points.

Print your CV on white A4 paper as typed or written CVs will not impress.

Keep it one page, if possible.

Choose a font style that is easy to read. Avoid gimmicky or flashy formats

Print out a copy of your CV to keep yourself. A potential employer will use your CV
to form interview questions, so it is useful to remind yourself of what you have
written!

COVER LETTER
As part of your application for a job, you will need to write a covering letter to accompany your
CV - even if you are sending it by email. A covering letter builds on the information given in your
CV. Its purpose is
to make sure that the CV arrives on the desk of the correct person.
to clearly say why you want that particular job with that particular employer and
your motivation for the job.
The cover letter gives you an opportunity to discuss topics, not included in your resume, which
you fell will be of particular interest to the prospective employer. You can also use the cover
letter to highlight your employment objective if you did not state it on your CV.
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The cover letter should be typed neatly, using care in sentences structure, spelling, and
punctuation. Whenever possible, address your letter to a specific person and always use an
appropriate business letter format. Identify the kind of position that you are seeking and why you
are applying to the particular organization.
Tips:

Remember to put your address and contact details in the top right hand corner. Then
the employer's address underneath, aligned to the left.

Put the job title and reference number, if there was one.

Write to a named person - look on the internet or ring the company and find out
exactly who you will be dealing with. Then address the letter to them. If you cannot
find a name to write to, address the letter to 'Dear Sir or Madam'.

Include in your letter where you saw the job advertised.

Use the first paragraph to say why you were attracted by the advert - show you have
done some research into the company and you are really interested in it.

Then describe how your skills and experience make you suitable for the job. Highlight
relevant information from your CV, but do not just repeat what is already there.

If you are writing to a named person, finish the letter 'Yours sincerely'. If you are
writing to an unknown person, finish with 'Yours faithfully'.

Sign the letter by hand and type your name below your signature.

Keep it to one page, breaking up the text into paragraphs and using bullet points if
appropriate. It needs to be clear and concise, so the reader can glance through and
quickly pick out the main points.

Make sure your letter is unique both to you and your prospective employer.

Check your spelling, grammar and punctuation.

As with a CV, your letter should be clearly presented on good quality A4 plain paper
and set out neatly with margins and equal line spacing.

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Suggested Format for a Cover Letter of Application

Your Present Address


City, ZIP Code, State/ Country
Date
Mr. Christopher M.Bach
Title
Company
Street Address
City, ZIP Code, State/ Country
Dear Mr. Bach:
1st paragraph: (should arouse interest and define career objective) tell why you are writing;
name the position, or field, or general vocational area in which you are applying; tell how you
heard of the opening or organization.
2nd paragraph: (should develop your career objective and identify what you have they want
your CV will present the facts to support this) mention one of two qualifications you think would
be of greatest interest to the employer; tell why you a re particularly interested in the companyor
type of work; be sure to indicate any related experience, educational background, or specialized
training that might increase your employability.
3rd paragraph: (should highlight specific experience) make a positive statement about your skills
and ablities; if applicable, indicate willingness to relocate; refer the reader to the enclosed
resume.
4th paragraph: (should ask for an interview) be positive in your attitude; close by making a
specific request for an interview. Include a phone number where you can be reached.

Sincerely,
(your handwritten signature)
Type your name

Enclosure (remember to enclose your resume)

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WORK AND JOBS


DESCRIBING JOBS I
A company can employ hundreds of staff or only a few of them. However, no matter how many
employees a company has, each employee has a specific responsibility, function, and purpose.
The specific functions of particular employees are usually described under job descriptions or
duties.
Although the role of most staff may be obvious, there may be times when someone may ask
about an employee's job or their duties. Certainly these kinds of questions may be asked on job
interviews. There are a couple of standard expressions that can be used when asking about a
person's occupation. Look at the example below that show questions asked to find out what
someones job is:
Expressions: Questions and answers
What do you do?
What do you do for a living?
What is your occupation?
What type of work do you do?
Where do you work?

I'm a salesman. (job-general)


I'm in sales. (general)
I'm in the toy business. (industry)
I'm a contractor at JBX. (specific)
I'm a consultant for YXL.
I work for Bellwest. (company name)

Once a person knows what your job title is, they may want to know a little bit about your specific
job duties. Sometimes it is hard to tell exactly what a person does just from the job title. Look at
the expressions below that can be used to inquire about job duties.
What are your job duties?
What exactly do you do?
What does your job entail?
What do you do there?
What do you do at Bellwest?

I'm a software engineer. (job title)


I work in the sales department. (place in
company)
I'm in customer service. (general area)
I work as an instructor.
I build houses. (specific job)

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Various expressions:
in charge of + noun
A project manager is in charge of a certain project, e.g., development of a new building.
responsible for + verb + ing
A Manager is the person responsible for planning and directing the work of a group of
individuals, monitoring their work, and taking corrective action when necessary.
responsibilities + infinitive
One of manager's responsibilities is to provide feedback to those whose performance
needs improvement.
responsibilities + -ing
One of manager's responsibilities is providing feedback to those whose performance
needs improvement.
DESCRIBING JOBS II
All these words are used in front of "job" and "work":
Challenging, demanding , difficult, hard, tiring, tough= the work is difficult and
makes you tired.
Monotonous, repetitive, routine, tedious = the work done involves doing the same
things again and again
Exciting, fascinating , interesting, purposeful, rewarding, satisfying, stimulating,
= the work is interesting and gives you positive feelings
Dull, boring, uninteresting, unstimulating = the work is not interesting

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TYPES OF JOB AND TYPES OF WORK


A full-time job is for for all the hours of a week during which people normally work, rather
than just for a part of it (if you have it, you work full-time). A part-time job is for only
part of the day or week during which people normally work (then you work part-time).
A permanent job doesn't have a finite ending date as opposed to a temporary job that will
only last for a specific length of time.
In some companies theres a system of flexitime (BrE)/flextime (AmE). It is a a system in
which employees work a particular number of hours each week or month but can choose
when they start and finish work each day, i.e. employees can work when they want, within
certain limits. You can start e.g. at any time before eleven and finish as early as three, as
long as you do enough hours each month. You have to clock in when you come to work
and clock out when you leave.
Factory workers may work in shifts, which is a period of time worked by a group of
workers who start as another group finishes. They may be on the day shift or on the night
shift at the factory. People who have to work on the night shift work antisocial hours.
If you work in a big city, but prefer to live in the country you will have to commute to
work every day i.e. you will travel regularly by bus, train, car, etc. between your place of
work and your home.
If you work for a company from your home and communicate with you office and
colleagues by computer and telephone, etc. Either all or part of the time, your type of work
is called teleworking, telework or telecommute.

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VOCABULARY BUILDING: Employing and dismissing employees


EMPLOYING PEOPLE
to recruit sb - Many businesses are having trouble recruiting workers with adequate skills.
to hire sb (especially AmE ) - If you want to keep growing, hire more salespeople.
to take on sb - She was taken on as a trainee last year.
to appoint sb - A new head of the Environment Agency was appointed last year.
to headhunt sb - He was headhunted by a major US law firm.
GETTING RID OF EMPLOYEES
When employees do something wrong
to dismiss sb - She was dismissed for misuse of company property.
to fire sb (more informal) - We fired him for dishonesty.
to remove sb (used especially about people with important jobs) - He has been removed from the
company's board.
to sack sb (BrE; used informally or in newspapers) - The company sacked its chief executive after a
series of poor results.
GETTING RID OF EMPLOYEES
When employees are no longer needed or a company needs to save money
to make sb redundant (BrE) - More than 100 workers have been made redundant.
to lay sb off - The company has laid off 200 of its employees.
to terminate sb (especially AmE ) - They are obliged to compensate terminated employees.
to downsize - Big companies are downsizing and increasing their temporary workforce.
to delayer (= to reduce the number of levels of management) - Restructuring and delayering have
meant redundancies for many experienced people.

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DEPARTMENTS IN A COMPANY

People can also work in different departments in a company such as:

Administration

Finance

Sales

Company
HR

R&D

Management

Production

Administration refers to the people who plan, organize and run a business or an
institution.
Finance is the department in charge of money management.
HR, which stands for Human Resources, or Personnel is the department in a
company that deals with employing and training people.
Management are the people who run and control a business or similar organization.
Production is the department in a company that is responsible for the process of making
goods or materials or growing food, especially large quantities.
R&D (also spelled R AND D, which stands for research and development is the
department in a company that tries to develop new products and ideas and improve
existing ones.
Sales is the department of a company that is responsible for selling things.
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LANGUAGE REVIEW

MODALS 1: Ability, requests and offers (CAN, COULD, WOULD)

MODALS IN GENERAL
A modal verb (also modal, modal auxiliary verb, modal auxiliary) is a type of auxiliary verb
that is used to give more information about the function of the main verb that follows it.
Although having a great variety of communicative functions, these functions can all be related to
a scale ranging from possibility ("can") to necessity ("must").
Modal verbs are special verbs which behave very differently from normal verbs; they do not take
"-s" in the third person (e.g. He can speak Chinese.); they cannot ac talone as the main verb in a
sentence (e.g. INCORRECT He can Chinese); only one modal can be used in a sentence (e.g.
INCORRECT He can must speak Chinese); they always come before another verb (e.g. Our new
manager can speak four languages fluently); they are not followed by to (e.g. INCORRECT He
can to speak four languages), and, last but not least, questions are formed by inverting the modal
and the subject (e.g. Can he speak four languages?).
Can, could, and would are modal verbs used to express ability, requests and offers.
CAN is used for:

making a request
o Can you help me?
o Can I make a phone call?

giving or refusing permission


o You can use my mobile phone.
o You cant go in there. Its private.

making an offer
o Can I help you?
o Can I take your coat?
o I can take you to the station if you like.

expressing ability
o I can speak French and Spanish
o Women can become train drivers.

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COULD is used for:

making a request
o Could you repeat that, please?
o Could you tell me the time, please? (a little more formal)

expressing ability in the past


o He could speak four languages before he was ten.
o When he was younger he could run a marathon in under three hours.

expressing future possibilities


o I think we could increase our market share in the long term.
WOULD is used for:

making requests:
o Would you open the door for me, please?

making offers:
o Would you like a glass of water.

describing imaginary situations:


o I would buy a Ferrari if I had enough money.

TIP AN, COULD, AND WOULD:

Could and would are generally more polite and formal than can.

Would is not used with I:


o Could I speak to you?
o NOT Would I speak to you?

More about modals: Students Book, page 118

21

UNIT 1: CAREERS - GLOSSARY

APPLICANT, noun [C]


a person who applies for sth, especially a job
There were over a hundred applicants for the job.
APPLY, verb (applies, applying, applied, applied)
[no obj] apply (to sb/sth) (for sth)
to make a formal written request for sth
Four people applied for the post of Assistant Manager.
Please apply in writing with full CV to the Human Resources Manager.
BENEFIT, noun
(H R ) [C, usually pl.] the advantages that you get from your company in addition to the money you earn
BONUS, noun (plural bonuses)
an extra amount of money that is added to a payment, especially to sbs wages as a reward
Productivity bonuses are paid to staff meeting agreed targets.
to earn/get/receive a bonus
performance/productivity bonuses
an annual/end-of year/ a year-end bonus
CAREER, noun
the series of jobs that a person has in a particular area of work, usually involving more responsibility as time
passes
She began her working career as an engineer at IBM.
He left teaching to take up a career in the music industry.
It was time to think about a change of career.
to begin/build/pursue/take up/start a career (in sth)
to change/end/give up your career
career goals/opportunities/prospects
CAREER BREAK, noun
a period of time when you do not do your usual job, either with or without the support of your employer, for
example because you have children to care for or want to study
He has taken a career break to do further studies.
to be on/need/take a career break
CAREER CHANGE, noun
the act of changing to a different type of job or profession
Hes thinking about making a career change.

22

CAREER LADDER , noun


a series of jobs from junior to senior level in a company, an organization or a profession, that have increasing
amounts of responsibility
Success was measured in terms of climbing the career ladder.
Shes reached the top of her career ladder.
employees on their way up the career ladder
CAREER MOVE, noun
the act of changing your job for one that you think is better and will bring the chance of more responsibility
Shes thinking about making a major career move.
Staying in the company wouldnt have been a smart career move.
CLOCK IN (BrE ) (AmE PUNCH IN) (H R ), verb
to record the time at which you arrive at work, especially by putting a card into a machine
CLOCK OUT (BrE ) (AmE PUNCH OUT) (H R ), verb
to record the time at which you leave work, especially by putting a card into a machine
COVERING LETTER (Am COVER LETTER), noun
a letter or written communication that serves to introduce an accompanying document; especially, a letter that
introduces a rsum or curriculum vitae
CURRICULUM VITAE (BrE ) (plural curricula vitae) /k'rikjulm 'vitai/- Latin for 'life story
(AmE RSUM /'rez.jui.me/ /'rez. me/, noun
a written record of your education and employment, that you send when applying for a job
EMPLOY, verb [+ obj]
to give sb a job to do for payment
How many people does the company employ?
For the past three years he has been employed as a systems analyst.
EMPLOYMENT AGENCY (BrE also staff agency), noun
(H R ) a business that helps people to find work and employers to find workers
Many people find jobs very quickly by going to private employment agencies.
You must register with a government employment agency.
FLEXITIME (especially BrE) (AmE usually flextime), noun
a system in which employees work a particular number of hours each week or month but can choose when
they start and finish work each day
She works flextime.
FULL-TIME, adjective, adverb (abbr FT)
for all the hours of a week during which people normally work, rather than just for a part of it
a full-time employee
a full-time job
23

HEADHUNT, verb [+ obj]


(H R ) (usually be headhunted)
to find sb who has the right skills and experience for a senior job in a company or an organization and
persuade them to leave their present job
I was headhunted by a marketing agency.
Headhunter, noun [C]
HIRE, verb
1 (H R ) [+ obj or no obj] (especially AmE) to give sb a job
She was hired three years ago.
Were not hiring right now.
IN-HOUSE (also in-company), adjective [only before noun]
existing or happening within a company or an organization
in-company training
JOB, noun
work for which you receive regular payment
She applied for a job as director of marketing.
Who is likely to get the top job at the bank?
jobs in the auto industry
Hes been out of a job (= unemployed) for six months now.
The plan involves about 10 000 job losses.
Are you considering changing jobs?
to apply for/look for a job
to find/get/have/keep/take a job
to leave/lose/quit a job
to offer sb/fill a job
a full-time/part-time/ permanent/ steady/temporary job
VOCABULARY BUILDING: job/career/position/post/vocation/work

Your job is what you do in order to receive a regular income. The word is often used when describing
how your work meets your personal or financial requirements: a boring/interesting/a well-paid job. Work is an
uncountable noun and is used to describe what you do in your job: What work do you do? fulltime/manual/skilled work. It is also often used when speaking about the relationship between your personal life
and time spent working: the difficulties of balancing work and family. Both job and work are used to describe the
state of having work: to look for/find work/a job to be out of work/a job (= not doing any paid work).
A career is a series of jobs in a particular area of work, especially one for which you need a
qualification or special training: a career in business/law.
A vocation describes a career that you believe is particularly suitable for you, even though it may be
difficult or badly paid: He found his vocation in teaching.
Post and position are both fairly formal and are often found in advertisements. Post is often used
about academic or government jobs: a teaching post. Position often refers to a job in a company with a lot of
responsibility: a managerial/senior position
24

NOTICE, noun
3 (H R ) [U, C] a formal letter or statement saying that you will or must leave your job at the end of a particular
period of time
My notice period is two months.
OVERTIME, noun
time that you spend working at your job after you have worked the normal hours
Some employees were willing to work overtime at weekends. The union announced a ban on overtime.
to do/work overtime
PART-TIME, adjective, adverb (abbr PT)
for only part of the day or week during which people normally work
Shes looking for a part-time job.
Liz works part-time from 10 till 2.
PERMANENT, adjective
lasting or staying for a long time
a permanent job
permanent staff
OPP TEMPORARY
PROMOTION, noun
a move to a more important job in a company or an organization
Her promotion to Sales Manager took everyone by surprise.
a job with excellent promotion prospects
to get a promotion
OPP DEMOTION
QUALIFICATION, noun
a skill or type of experience that you need for a particular job or activity
Previous managerial experience is a necessary qualification for this job.
REDUNDANT, adjective
idioms: be made redundant
to lose your job because your employer no longer has work for you
He was made redundant after 40 years with the same company.
RECRUIT, verb
1 (H R ) [+ obj or no obj]
to find new people to join a company or an organization
200 new employees have been recruited.
RECRUITMENT, noun [U]
the act or the process of finding new people to join a company or an organization
25

RETIREMENT, noun [U, C]


the fact of stopping work because you have reached a particular age; the time when you do this
Susan is going to take early retirement (= retire before the usual age).
THE SACK [sing.] (BrE) (informal)
being told by your employer that you can no longer work for a company, etc., usually because of sth that you
have done wrong
She got the sack for being late every day.
After several arguments with his boss, he was given the sack
SYN DISMISSAL
SELECTION, noun
[U] the process of choosing sb/sth from a group of people or things, usually according to a system
He claims that the selection process was unfair.
The selection committee will consider a large number of candidates.
SHIFT, noun
(H R ) [C] a period of time worked by a group of workers who start work as another group finishes
to be on the day/night shift at the factory
The salespeople work eight-hour shifts.
Experienced staff will be working in shifts to ensure a good service.
SUBSIDIARY, noun [C] (plural subsidiaries)
a company that is owned or controlled by another company
Exis Power, a 58%-owned subsidiary of Exis Corp
TELEWORKING (also telework), noun [U]
(H R ) the activity of working for a company from your home and communicating with your office and
colleagues by computer and telephone, etc. either all or part of the time
Teleworking is a growing trend because people can avoid commuting, traffic and other hassles.
SYN TELECOMMUTING
TEMPORARY, adjective
lasting or intended to last only for a short time; not permanent
More than half the staff are temporary.
workers on temporary contracts
OPP PERMANENT SYN TEMP
TIME OFF, noun
a period when you are away from work because you are ill/sick, taking a holiday/vacation, etc
I need to take time off to study for my exam.
to ask for/get/have/take (some) time off

26

TRAINING, noun
the process of learning the skills that you need to do a job
New employees do a months intensive training before starting.
He had no formal training in design.
You will receive in-house training throughout your first year.
to do/get/receive training
to give/offer/provide training

employee/ staff / formal/hands-on/in-house training


a training centre/ course/ program/ session/ workshop

VACANCY, noun (plural vacancies)


a job that is available for sb to do
We have a vacancy for a designer.
A vacancy has arisen in our sales department.
a vacancy arises/exists/occurs
to fill a vacancy
to advertise a vacancy
WORKFORCE (also spelled work force, especially in AmE) noun [C with sing. /pl. verb]
1 all the people who work for a particular company, organization, etc
SYN STAFF
the entire/total/worldwide workforce
2 all the people in a country or an area who are available for work
SYN LABOUR FORCE

27

EXERCISES FOR SELF-STUDY/ REVISION

EXERCISE1.
Match the items on the right to the items on the left.
1. applicant
2. benefit
3. bonus
4. notice
5. promotion
6. qualification
7. recruitment
8. retirement
9. selection
10. teleworking

a. a move to a more important job in a company or an organization


b. an extra amount of money that is added to a payment, especially to
sbs wages as a reward
c. a formal letter or statement saying that you will or must leave your
job at the end of a particular period of time
d. the fact of stopping work because you have reached a particular age
e. the act or the process of finding new people to join a company or
an organization
f. the activity of working for a company from your home and
communicating with your office and colleagues by computer and
telephone, etc. either all or part of the time
g. the process of choosing sb/sth from a group of people or things,
usually according to a system
h. a skill or type of experience that you need for a particular job or
activity
i. a person who applies for sth, especially a job, shares, etc
j. the advantages that you get from your company in addition to the
money you earn

1. _____ 2. _____ 3. _____ 4. _____ 5. _____ 6. _____ 7. _____ 8. _____ 9. _____ 10. _____
EXERCISE 2.
Fill in the blanks with missing letters (vowels and consonants).
1. If you work a particular number of hours each week or month but can choose when they start
and finish work each day, you work ___ ___ ___ ___ ___ ___ ___ ___ (AmE) or
___ ___ ___ ___ ___ ___ ___ ___ ___ (BrE)
2. The time that you spend working at your job after you have worked the normal hours is called
___ ___ ___ ___ ___ ___ ___ ___
3. If you work for all the hours of a week during which people normally work, you work
___ ___ ___ ___ - ___ ___ ___ ___
4. If you work for only part of the day or week during which people normally work, you work
__ ___ ___ ___ - ___ ___ ___ ___
5. The type of job when you work for a company from your home and communicate with your
office and colleagues by computer and telephone, etc. either all or part of the time is called
___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___, ___ ___ ___ ___ ___ ___ ___ ___ or
___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___.
6. If a group of workers start work as another group finishes, we say that they work
___ ___ ___ ___ ___ ___ ___ ___. They have to ___ ___ ___ ___ ___
___ ___
(or ___ ___ ___ ___ ___ ___ ___ when they arrive at work and ___ ___ ___ ___ ___
___ ___ ___ (or ___ ___ ___ ___ ___ ___ ___ ___) when they leave work.
28

7. If you have a job that lasts for a long time you have a ___ ___ ___ ___ ___ ___ ___ ___ ___
job. On the other hand, if you have a job that lasts only for a short time you have
a ___ ___ ___ ___ ___ ___ ___ ___ ___ (or a ___ ___ ___ ___) job.
EXERCISE 3.
Complete the crossword
1

--

6
7

9
10
11

12

13

14

15

16

29

ACROSS
1. a skill or type of experience that you need for a particular job or activity
3. a move to a more important job in a company or an organization
4. existing or happening within a company or an organization
5. the process of learning the skills that you need to do a job
7. an extra amount of money that is added to a payment, especially to sbs wages as a reward
8. the fact of stopping work because you have reached a particular age
11. a job that is available for sb to do
12. a company that is owned or controlled by another company
13. the process of choosing sb/sth from a group of people or things, usually according to a system
15. a person who finds sb who has the right skills and experience for a senior job in a company or an
organization and persuade them to leave their present job
16. to give sb a job
DOWN
2. a person who applies for sth, especially a job
6. all the people who work for a particular company, organization
8. be made____ = to lose your job because your employer no longer has work for you
9. the act or the process of finding new people to join a company or an organization
10. the advantages that you get from your company in addition to the money you earn
14. the series of jobs that a person has in a particular area of work, usually involving more
responsibility as time passes
EXERCISE 4.
Fill in the gaps with a suitable word.
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.

A _________________ has arisen in our sales department.


New staff receive a week's _________________ in how to use the computers.
Are you looking for a _________________ or a permanent job?
As the _________________ shift leave/leaves, the _________________ shift
arrive/arrives.
Two workers got __________ ______________________ for fighting in the warehouse.
Many teachers over the age of 50 are taking early ________________________________.
To keep the company alive, half the workforce is being made
_____________________________________________.
If I'm not ________________________________ within the next two years, I'm going to
change jobs.
They're working ________________________________ to get the job finished on time.
All our advertising material is designed ________________________________ rather than
by an advertising agency.
Applicants interested in applying for the position should submit their _________________
_________________ and _________________ _________________ to the Anatomy
Department no later than February 15.
By the time I saw the job advertised it was already too late to _________________ .

EXERCISE 5.
Compare the following two CVs and decide which is a good CV and which is a bad CV.
30

EXAMPLE 1

CURRICULUM VITI
Andy Jackson
Address
23 Blue Drake Lane
greenradish@hotmail.com

CT1 GT Oxford

Personnel statement
I have good teamworking and communication skills.
I would like job in business.
EDUCATION
St. Munogs School. Bedford
GSCEs 2002
I have 8 GSCEs passes including English grade A and Mathematics grade B
A levels 2004
History A, Geography B, Psychology B
2004-2007 University of Kent
BA (HONS) Business Studies
2:1
WORK EXPERIENCE
June 2006 Sept 2006 Iceland Frozen Food, Kent
Store assistant

31

Involved stocking shelves and operating the tills


2003-2004 Bar person, The Plough Inn
INTERESTS
I enjoy all types of fitness, and do martial arts, and skiing. I have a high level of fitness. I also
enjoy train spotting, reading and playing computer games

SKILLS

commuting

languages. I speak French


swimming. I have a bronze certificate

32

EXAMPLE 2

Angela Juliana Hernandez

Profile
I am keen to follow a career in Tourism or Hotel Management. I am well-organized, highly motivated and
have excellent communication skills. In addition I am reliable, flexible, and quick to learn.
Personal details
Address

Avenida de la Palmera 25, Sevilla 18 752 Spain

Tel

123 456 789

Email

ajhernandez@ etc.com

Date of birth 9 Dec 1982


Marital status Single
Education
1998 2000 Universidad de Granada Diploma in Business Studies with Tourism
1990 1998 Instituto Cervantes, Granada Bachillerato (A Level equivalent) Grade B
Professional Experience
2000 present Hotel Sunshine, Notown, Assistant to Conference Manager
Responsible for providing administrative support, answering enquiries, taking bookings,
arranging catering.
Employee of the Year, 2001.
Summer 2000 Company Xyz. Notown, Social/Sports Officer
In charge of escorting groups of foreign students,
Arranging schedules, planning social events,
Organising sports activities, managing a budget.
Interests
Yoga, swimming, skiing, classical music, theatre.
Additional Skills
Working knowledge of German and Italian
Fluent English - IELTS score 6.5
Clean driving licence
Computer literate (Word, Excel, Powerpoint)
Referees
Luis Vasquez, Conference Manager, Sunshine Hotels
Mercedes Cabrera Mendoza, Regional Director, Eurostudy Ltd

33

EXERCISE 6.
Look at the following job ads and write your cv/resume and the accompanying cover(ing) letter to
apply for the job.

34

YOUR NAME
222 FIRST STREET, CALGARY, T3A-3Y5
PHONE (403) 000-0000 E-MAIL ME@HOME.COM

OBJECTIVE

[ Type Objective Here ]


EDUCATION

200x - 200x
[ School/Organization Name ] [ City, Province ]
[ Diploma/Certificate/Degree/Major ]
[ Details of education completed. ]
200x - 200x
[ School/Organization Name ] [ City, Province ]
[ Diploma/Certificate/Degree/Major ]
[ Details of education completed. ]
WORK EXPERIENCE

200x - 200x
[ Company/Organization Name ]
[ Job Title ]
[ Details of position. ]
200x - 200x
[ Company/Organization Name ]
[ Job Title ]
[ Details of position. ]
200x - 200x
[ Company/Organization Name ]
[ Job Title ]
[ Details of position. ]

[ City, Province ]

[ City, Province ]

[ City, Province ]

SKILLS

[ Click here and enter information. ]


REFERENCES

References and letters of recommendation available on request.

35

USEFUL PHRASES WHEN WRITING A COVER LETTER

Beginning the letter

Dear Mr Coxon

Dear Ms Chambers

Dear Sir/Madam OR To Whom It May Concern

First paragraph

I was delighted to see your advertisement / following our recent telephone


conversation / I am writing to enquire whether / In response to the advertised
position in (The Guardian) on (July12th)/ please consider my rsum in your search
for (a Client/Server Architect)/ I am writing to you in response to your advertisement
for...

The middle paragraph(s):

as you can see from my CV/ attracted to working for you because/ I believe that
I can offer/ I am especially interested in/ I feel that my main skills are / As
you can see from my enclosed resume, my experience and qualifications match this
position's requirements

The last paragraph:

I look forward to further demonstrating my relevant skills, experience and motivation


at interview / I would welcome the opportunity to meet with you to further discuss
my application/ I will be happy to supply you with any additional information or
examples of my work / I could be available for an interview at any time / I look
forward....to hearing back from you....OR.....to your reply. / I look forward to an
opportunity to speak with you in person. (OR to speak with you personally)

Signing off

Yours sincerely if the letter started with Dear Mr (Coxon) or Dear Ms (Chambers)or
Yours faithfully if the letter started with Dear Sir/Madam, and print your name
clearly underneath.

36

EXERCISE 7.
Complete the text. Choose the correct option.
When he left university, Jan didnt know exactly what kind of job he wanted. He couldnt ____ (1)
on a career plan. Some of his friends were dreaming of ____ (2) a fortune. Others were waiting to
____ (3) an easy nine-to-five job in administration. But Jan was interested in ____ (4) research, and
he loved chemistry. He was not very ambitious and just wanted to ____ (5) a good living.
Two years after he got his degree, he found a job with a large pharmaceuticals company. The
company is famous for its R&D department. It also offers excellent career ____ (6). Now Jan often
has to ____ (7) overtime, but he says he has found what he wanted. He is learning all the time, and
also ____ (8) enough money to live without worry. His bosses say he is ____ (9) a great job. In fact,
Jan is going to ____ (10) a promotion very soon.
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.

a) decide
a) living
a) get
a) making
a) work
a) ladder
a) job
a) earns
a) taking
a) get

b) think
b) taking
b) earn
b) doing
b) make
b) breaks
b) work
b) takes
b) making
b) win

c) make
c) making
c) work
c) taking
c) do
c) opportunities
c) make
c) does
c) doing
c) earn

EXERCISE 8.
Four of the sentences below are incorrect. Cross the incorrect word in each sentence. If the
incorrect word needs to be replaced, write the correct word on the line. If the sentence is
correct put a on the line.
1. Would you like to take a seat in the lounge? _____________________
2. Could you to send us a copy of your certificates? _____________________
3. Can I helping you? _____________________
4. Could you let use have the names and addresses of two referees? _____________________
5. Do you spell your surname for me, please? _____________________
6. Could you like a copy of our company brochure? _____________________
7. Can you tell Liz that the manager rang? _____________________
8. Can you phone me after the meeting? _____________________
37

EXERCISE 9.
Make and respond to requests using the verbs in brackets.
Example: I want your telephone number (have)
Can I have your telephone number, please?
1. I want your address. (give)
____________________________________________________________________
2. I dont understand you (speak more slowly)
____________________________________________________________________
3. I need your signature on this document. (sign)
____________________________________________________________________
4. I need two chairs for my table. You have two free chairs at your table. (take)
____________________________________________________________________
5. I dont have time to speak to you now. (talk later)
____________________________________________________________________
6. I need your pen to sign the visitors book. (borrow)
____________________________________________________________________
7. I didnt hear what you said. (say)
____________________________________________________________________
EXERCISE 10.
Answer the following questions.

1. How ambitious are you? Do you have a career plan?


2. What should you do to get ahead in your career?
3. What helps when trying to move ahead in your career? Think about personal factors and
workplace factors.
4. In what department would you like to work and why?
5. What does it mean to work overtime?
6. What would the advantages and disadvantages of working flextime be?
7. What kind of job do you have if it is a temporary full-time job?
38

8. What are the advantages and disadvantages of e-cruitment (as opposed to traditional
recruitment)?
9. What are the most important tips you could give to someone trying to improve their career?
10. What is a CV and what is a covr letter? Why are they important? What advice would you give
to somebody who needs to write their CV and cover letter?
11. Explain the difference between internal promotion and external recruitment
12. Case study from the students book: Explain why you would choose a particular candidate.

39

UNIT 2: SELLING ONLINE


SHOPPING
SHOPPING generally refers to the process of buying products. Sometimes this is done to obtain
necessities such as food and clothing; sometimes it is done as a recreational activity. Recreational
shopping often involves window shopping (just looking, not buying) and browsing (looking at the
goods in the hope you might find something you like) and does not always result in a purchase (the
act of buying).
The way we shop has changed over the last eighty years. What has allowed these changes to happen?

40

Shops may be on residential streets, shopping streets with few or no houses, or in a shopping center
or mall. Shopping streets may be for pedestrians only.

Some shops use counter-service, where goods are out of reach


of buyers, and must be obtained from the seller. This type of
retail is common for small expensive items (like jewelry) or
controlled items (like medicine).

Self-service where goods may be handled and examined before


buying them is nowadays more common.

counter service

Delivery (commerce), where goods are shipped directly to


consumer's homes or workplaces. Ordering by telephone is
now common, either from a catalog, newspaper or television
advertisement, or local restaurant menu for immediate service
(especially for pizza delivery).

Door-to-door sales where the salesperson sometimes travels


with the goods for sale.
RETAIL VS WHOLESALE

RETAIL is the business of selling products directly to the consumer, especially through shops/stores.
In other words, it consists of the sale of goods or merchandise from a fixed location, such as a
department store or kiosk, or by post, in small or individual lots for direct consumption by the
purchaser. Retailing can also be defined as the activity which involves selling goods or services
directly to the consumers. In commerce, a retailer buys goods or products in large quantities from
manufacturers or importers, either directly or through a wholesaler, and then sells smaller
quantities to the end-user.
In virtual retail where products are ordered by mail or online they cannot be examined physically
but only seen in a catalogue, on television or on a website. Online retailing, also referred to as B2C,
is a type of e-commerce, and mail order are forms of non-shop retailing.
WHOLESALE refers to the selling of goods in large quantities at low prices to shops and businesses
for resale, rather than the selling of goods in shops to customers. When a business sells products
wholesale, we say they sell it in bulk.
41

TYPES OF RETAIL STORES


Chain store is a shop/store that is one of a series of similar shops/stores in many
different towns and cities owned by the same company such as Marks and Spencers,
Gap and Virgin.
Supermarket (AmE also grocery store) is a shop/store that sells food, drinks and
goods used in the home. People choose what they want from the shelves and pay for
it as they leave (at the checkouts).
Hypermarket is a very large shop/store, usually outside a town, that sells a wide
range of goods
Department store is a large shop/store that is divided into several parts, each part
selling a different type of goods
Boutique is a small shop, often with a particular style, selling, for example,
fashionable clothes
Convenience store (especially AmE) is a small shop/store that sells food,
newspapers, etc. and often stays open all or most of the day and night.
Corner shop/store corner shop (BrE) (also corner store, BrE, AmE) is a small
shop/store that sells food, newspapers, cigarettes, etc., especially one near peoples
houses.
Delicatessen/deli is a small store or an area within a grocery store that sells cheese,
cooked meat, bread, etc.
Hardware store is a store that sells equipment and tools that you use in your home
and yard.
Newsstand is a place on a street where newspapers and magazines are sold.
Drugstore is a store where you can buy medicines, beauty products, etc.
Nursery/garden center is a place where plants and trees are grown and sold.
Warehouse store , also known as box store, is a large simple store that sells a limited
variety of merchandise in bulk at a discount store to customers.

42

E-COMMERCE
"Usability rules the web. Simply stated, if the customer can't find a
product, then he or she will not buy it."
"The web is the ultimate customer-empowering environment. He or she
who clicks the mouse gets to decide everything. It is so easy to go
elsewhere; all the competitors in the world are but a mouse click away."
Jakob Nielsen, Designing Web Usability, p. 9
DEFINITION

ELECTRONIC COMMERCE, commonly known as e-commerce or eCommerce or EC, is the buying


and selling of products or services on the Internet, especially the World Wide Web. The amount of
trade conducted electronically has grown dramatically since the wide introduction of the Internet. A
wide variety of commerce is conducted in this way. Modern electronic commerce typically uses the
World Wide Web at least at some point in the transaction's lifecycle, although it can encompass a
wider range of technologies such as e-mail as well. In practice, this term and a newer term, ebusiness, are often used interchangeably, although e-commerce is generally considered to be the
sales aspect of e-business. Online retailers are sometimes known as e-tailers and online retail is
sometimes known as e-tail.
Running an e-commerce operation (selling goods over the Internet) may involve:
applying for government contracts, (companies can bid for
government contracts over the Internet), called business-togovernment or B2G.
supplying other businesses, called business-to-business or B2B
(the transaction of goods or services between businesses, such as
between a manufacturer and a wholesaler, or between a
wholesaler and a retailer.

43

selling to the public, called business-to-consumer or B2C


(sometimes also called Business-to-Customer). It describes
activities of businesses serving end consumers with products
and/or services. An example of a B2C transaction would be a
person buying a pair of shoes from a retailer. The transactions
that led to the shoes being available for purchase, that is the
purchase of the leather, laces, rubber, etc. as well as the sale of
the shoe from the shoemaker to the retailer would be considered
(B2B) transactions.

COMBINING E-COMMERCE WITH OTHER METHODS OF SELLING

Companies look more at how e-commerce can be used in conjunction with other methods of selling.
The traditional type of company, i.e. the one that possesses
a building or store for operations is called a brick and
mortar. The name is derived from the traditional building
materials associated with physical buildings bricks and
mortar in contrast with online stores, which have no
physical presence. In the jargon of eCommerce, brick and
mortar businesses are companies that have a physical
presence a physical store and offer face-to-face consumer experiences. This term is usually
used to contrast with a transitory business or an internet-only presence, such as an online shop.
A comparable term in the United Kingdom is High Street shops, although the phrases brick(s)
and mortar business are also used.
Bricks-and-clicks (from bricks-and-mortar) is a business model by which a company integrates
both offline (bricks) and online (clicks) presences (e.g. www.safeway.com). It is also known as clickand-mortar or clicks-and-bricks, as well as bricks, clicks and flips, flips referring to catalogs. The
bricks and clicks model has typically been used by traditional retailers who have extensive logistics
and supply chains. Part of the reason for its success is that it is far easier for a traditional retailer to
establish an online presence than it is for a start-up company to employ a successful pure "dot com"
strategy, or for an online retailer to establish a traditional presence (including a strong brand).
44

An e-tailer is a retailer that primarily uses the Internet as a medium for customers to shop for the
goods or services provided. Two distinct categories of e-tailers are
bricks and clicks, and
pure plays
A brick and click e-tailer uses the Internet to push its good or service but also has the traditional
physical storefront available to customers. If retailers combine online and traditional retailing (that is
they sell goods both in high-street stores and online) we say that online and store operations are
fully integrated. This is called an integrated multi-channel operation. Some old-economy
companies like the UK supermarket company Tesco, have made a success of e-commerce by
combining it with their existing operations, rather than investing in a whole new expensive
infrastructure (www.tesco.com or www.walmart.com or www.carrefour.fr).
A pure play e-tailer uses the Internet as its primary means of retailing (e.g. www.amazon.com,
www.asos.com). E-tailers who take part in pure playtype business have the opportunity to turn
higher profit margins, due in part to the fact that many of the overhead expenses associated with a
physical retail space, such as labor, retail space, and inventory, can be significantly alleviated. Pure
play allows for a retailer to be able to reach customers world wide, whilst still only maintaining one
location for each and every customer to visit, 24 hours a day, 7 days a week. Many studies have
shown that e-tailers are failing to meet the needs of online customers and that they generally only
have one chance to make a good impression if they want their customers to return. For customers, etailers can be a fast and convenient way to shop, but problems can sometimes occur. Examples of
possible problems include lost shipments, errors in shipments, overbilled customers, faulty products,
and credit card fraud. To be successful an online retailer must have a good website. The website
must be quick and easy to use. It needs to provide lots of information about the offered products.
An attractive website, however, is not sufficient. Like in traditional retailing the important factors of
success are: the quality of the product, competitive prices, fast delivery, after sales service.

45

Useful language
NEGOTIATION
NEGOTIATION is formal discussions between people who
are trying to reach an agreement. If people negotiate (with
each other), they talk in order to arrange something, agree to
something or reach an agreement which is their mutual
advantage (good for both of them). Negotiations also take
place to settle disputes (decide arguments) such as: contract
disputes, labor disputes and trade disputes.
Someone who takes part in negotiations is a negotiator, and someone who is good at getting what
they want is a tough negotiator. Another word for 'negotiate' is bargain. To bargain means to to
discuss prices, pay or conditions with sb in order to reach an agreement that suits everyone. Another
name for 'negotiator' is bargainer.
The best negotiating technique is a Win/Win approach and it refers to partnering with the
customer, so that the end result is a satisfactory outcome (a win/win) for both sides.
PREPARING TO NEGOTIATE. Before negotiations begin, preparing and planning are very important.
o Get as much information as possible about the situation. If dealing with people from another
culture, find out about its etiquette and negotiating styles: the way people negotiate, what
they consider to be acceptable and unacceptable behavior, and so on.
o Work out your initial bargaining position: what are your needs and objectives (the things
hat you want to achieve)? Decide your priorities (the most important objectives).
o Try to estimate the needs and objectives of the other side.
o Prepare a fallback position: conditions that you will accept if your original objectives are
not met.
o Perhaps you are in a position to influence the choice of venue: the place where you are going
to meet. If so, would you prefer to:
o be on your own ground / on home ground (in your own offices)
o go to see the other side on their ground (in their offices)
o meet on neutral ground, for example in a hotel?

46

o If you are negotiating as part of a negotiating team, consult your colleagues about previous
points, and allocate roles and responsibilities.'
In a successful negotiation, everyone should leave the negotiating table happy with the outcome:
there shouldn't be winners and losers. The negotiators should try to reach a win-win solution.
When you're negotiating with people from other cultures, it's important to think about what they
consider as 'normal' behavior. You'll need to think about the following:

body language

conversational rules

hierarchy

physical contact

relationship building

attitudes to time

PROBING. One way of furthering negotiations is probing (asking the right questions and listening
carefully to the answers). Here are some probing questions:
a. What is the situation on production at your plant at the moment?
b. What sort of quantities are you looking for?
c. What are we looking at in the way of discount?
d. What did you have in mind regarding specifications?
e. What were you thinking of in terms of delivery dates?
f. How important to you is the currency for payment?
TRADE-OFFS. When you offer to change your position to one that is less favorable to yourself, you
make a concession. Perhaps this is in exchange for a concession from the other side, although
there is no guarantee of this. Your concession may be a goodwill gesture: a concession that you
make hoping that the other side will see this as friendly and make a concession in return.
A series of concessions in exchange for concessions from the other side is a series of trade-offs. If
you make a concession, you may not get anything back. If you make a trade-off, you give something
away and get something in return.
AGREEMENTS

AND CONTRACTS.

An agreement of any kind is a deal. When you reach an

agreement, you can talk about clinching a deal or closing a deal. An agreement may be in the
form of a contract.
47

CHECKING

THE DEAL.

It's important to check the points of an agreement to avoid

misunderstandings. You could say:


Let me just go /run over (repeat and summarize) the main points.
On A, we agreed that . . .
As far as B is concerned (in relation to B), we agreed ...
We still have the question of C to settle (decide and agree on).
And there's still the outstanding (remaining undecided) issue of D.
We'll send you a written proposal.
We'll draw up (write) a contract based on those points.
I think that covers everything.
NEGOTIATING TIPS
Here are some negotiating tips. Think about them.
o Be friendly
o Have clear aims
o Tell the other side what you want
o Listen carefully
o Pay attention to the other sides body language
o Change your strategy during the negotiation if necessary
o Be strong and try to win
o Prepare carefully before you negotiate
o Ask a lot of questions
o Have a lot of options
o Summarize often the points you agree on

48

VOCABULARY BUILDING: COLLOCATIONS


WORD COMBINATIONS WITH 'NEGOTIATIONS'
ADJECTIVES
lengthy , protracted = take a very long time.
difficult , tough, tense = are very difficult and could easily fail.
intense /intensive = are very difficult and tiring, with a lot being discussed.
delicate / tense = are very difficult and could easily fail.
eleventh-hour / last-minute = take place at the last possible moment of the time available
NOUNS
customer-supplier
merger or takeover
pay ( esp. BrE ) , salary ( esp. AmE ) , wage ( esp. BrE )
peace
trade
VERB
V. + NEGOTIATIONS

NEGOTIATIONS +

enter into , open , start

take place

complete , conclude

begin , start
continue , go on
fail

49

V.

LANGUAGE REVIEW
MODALS 2: MUST, NEED TO, HAVE TO, SHOULD

SHOULD and SHOULDNT are used to:

say that it is a good or a bad idea to do something.


o Online retailers should acknowledge all orders by e-mail.
o

Websites shouldnt be too complicated.

give advice or to suggest the right course of action


o A CV should be printed on good-quality notepaper.
o It shouldnt be more than two pages long.

say that something is likely in the future


o Interest rates should come down soon thats what the economists are predicting.

MUST, NEED TO and HAS/HAVE TO are used to:

say that something is compulsory or necessary.


o Customers must be confident that their credit card details are secure.
o We must be patient when our goals are for the long term.
o Online retailers need to offer guarantees to their customers.
o My boss needs to have the figures before next Mondays meeting.
o I need to have the figures before next Mondays meeting.
o The site has to work quickly and effectively.
o Companies have to advertise to let consumers know they exist.

NEED TO and HAS/HAVE TO are used to:

say that something is necessary or very important.


o The site has to work quickly and effectively.
o Online retailers need to offer guarantees to their customers.

NEED TO
can also have passive meaning.
o The report needs to be checked before the end of the week.
50

HAD TO is used to:

Refer to a past obligation.


o When I lived in Tokyo, I had to learn Japanese.

DONT HAVE TO and DONT NEED TO are used:

if something is not necessary, when there is no obligation.


o

You dont have to queue when you buy online.

If you buy now, you dont need to pay anything until next year.

MUST vs. HAVE TO

Must is very similar to have to.


o I must remember to get in touch with Mr. Gonzales, I keep forgetting.
o I must buy my wife a present before I go home.
o We have to wear a uniform at work, its not our choice.
o I enjoy going to conferences until I have to make a presentation.
We prefer to use must when we oblige ourselves to do something. We prefer have to
when the obligation is imposed by other people or external circumstances.

Compare:
o In many companies employees must not wear jeans, but they do not have to wear a formal suit
and tie.

But mustnt is not the same as dont have to. You use mustnt to say that somebody is
not allowed to do something. We use mustnt (NOT * do not have to) to say that
something is forbidden, against the law or very unacceptable.
o

You mustnt use the Internet at work for personal purposes. (=Dont use the Internet at
work for personal purposes)

Advertisers mustnt make false claims about their products.

Drivers must not park their vehicles by a traffic light.

More about modals: SB, page 119


51

UNIT 2: SELLING ONLINE - GLOSSARY

AFTER-SALES, adjective [only before noun] (BrE)


providing help to a customer after they have bought a product, such as doing repairs or giving advice on how
to use the product
Their computers are good value and they offer an excellent after-sales service.
after-sales assistance/service/support
AGENDA, noun
a list of topics to be discussed at a meeting:
The next item on the agenda is the publicity budget.
The meeting has no formal agenda.
BARGAIN, noun
something that is bought or sold at a lower price than usual
I picked up a few good bargains in the sale.
I managed to get the shares at a bargain price .
B2B (also spelled b2b, B-to-B), adjective [only before noun]
(E-commerce ) business-to-business
used to describe the buying, selling and exchanging over the Internet of products, services or information
between companies, rather than between companies and consumers
B2B solutions for e-commerce
business-to-business advertising
NOTE It can also be used as a noun: Business to business accounts for 75% of all Internet revenue.
B2C (also spelled b2c, B-to-C), adjective [only before noun]
(E-commerce ) business-to-consumer, business-to-customer
used to describe the selling of products, services or information to consumers over the Internet
B2C e-commerce business-to-consumer transactions
NOTE It can also be used as a noun: B2C has been a big disappointment so far.
BRICKS-AND-MORTAR, noun
buildings, especially when you are thinking of them in connection with how much they cost
to build or how much they are worth
We own our own buildings and consider bricks and mortar to be a key part of our business strategy.
a new Internet company without a lot of bricks-and-mortar businesses (= businesses with buildings that
customers go to)
(AmE) brick-and-mortar businesses
BROWSE, verb [+ obj or no obj]
to look at a lot of things in a shop/store rather than looking for one particular thing

52

BULK, noun, adjective


IDIOMS
buy/order/sell (sth) in bulk
to buy, order or sell sth in large amounts, usually at a reduced price
Companies will buy tickets and hotel rooms in bulk to get a better price.
You can order the spice in small amounts or in bulk.
CLICKS AND MORTAR (also clicks and bricks) (E-commerce)
that uses the Internet as well as physical shops/stores, etc. to sell products
a clicks-and-mortar business/retailer/company
Our clicks and mortar strategy combines traditional and new ways of doing business.
COMPETITIVE, adjective
1 used to describe a situation in which people or organizations compete against each other
a highly competitive market
2 as good as or better than others
We have a wide range of electrical goods at competitive prices.
We need to work harder to remain competitive with other companies.
CONCESSION, noun
1 [C,U] something that you allow or do, or allow sb to have, in order to end an argument or to make a
situation less difficult
The firm will be forced to make concessions if it wants to avoid a strike.
to make/offer concessions
COOLING-OFF PERIOD, noun [C]
a period of time after sb has agreed to buy sth during which they can change their mind
CUT-THROAT, adjective [usually before noun]
(about an activity) in which people compete with each other in aggressive and unfair ways
rival companies engaged in cut-throat competition
DELIVERY, noun (plural deliveries)
the act of taking goods, letters, etc. to the people they have been sent to
They offer guaranteed next-day delivery to any home in the UK.
Please pay for the goods on delivery (= when you receive them)
Allow 28 days for delivery.
We do all our deliveries in the morning.
express/fast/next-day/overnight/same-day delivery
to do/make a delivery

53

DISCOUNT, noun
an amount of money that is taken off the usual cost of sth
We give a 15% discount on large orders.
They were forced to sell their old stock at a discount (= at reduced prices).
a discount for paying within 30 days
to get/give/offer a discount
a big/deep/heavy discount
discount airlines/carriers/fares/tickets
a discount brand/chain/retailer/store
DISPATCH (also spelled despatch, especially in BrE), verb
to send a letter, parcel/package or message somewhere
Goods are dispatched within 24 hours of your order reaching us.
DOOR-TO-DOOR, adverb
1 (Marketing ) visiting all the homes or offices in an area, especially to try to sell sth
They sell household goods door to door and through catalogues.
2 if sth is delivered door to door, it is brought directly from the factory or supplier to the customer
We deliver door to door anywhere in the US.
Orders to UK addresses are delivered door to door by APC Couriers.
door-to-door adjective [only before noun]
a door-to-door salesman/sales force
door-to-door package delivery
DUAL PRICING, noun
(Economics ) the act of selling the same goods or services for different prices in different markets
Dual pricing sets different prices for domestic markets and export markets.
E-COMMERCE (also electronic commerce, less frequent) (also Internet commerce), noun
the business of buying and selling things using the Internet
E-commerce has completely changed the way we buy goods and services.
The mail-order firm launched an e-commerce operation last year.
The vast majority of e-commerce is B-to-B (= between businesses) and not B-to-C (= between businesses and
the public).
to be involved in/expand into/move into e-commerce
an e-commerce business/company
END-USER (AmE spelling also end user), noun [C]
a person who actually uses a product rather than one who makes or sells it, especially a person who uses a
product connected with computers
They sell their computers directly to businesses and individual end-users.

54

E-TAILER, noun [C]


(E-commerce ) a business that sells goods to the public on the Internet
a furniture e-tailer
NOTE E-tailer is formed from e- (electronic) and retailer.
e-tailing, noun [U]:
an e-tailing business/site
They have moved from traditional retailing into e-tailing.
ETIQUETTE, noun [U]
the rules of polite and correct behaviour
Punctuality is an important aspect of business etiquette.
EXCHANGE, verb
if you exchange sth you have bought, or a shop/store exchanges it, you return it and get
sth different or better instead
Can I exchange this shirt for a larger size?
FALLBACK, noun [C]
1 a plan or course of action that is ready to be used in an emergency if other things fail
We need a fallback position if they dont accept our offer.
HIGH STREET, noun [C, usually sing.] (BrE)
the main road in a town, where the shops/stores, banks, etc. are
They have a store in the High Street.
Sales were stronger in out-of-town centres than on the high street (= the businesses in the centre of a town).
high-street stores/retailers
INTEGRATE, verb [+ obj or no obj] integrate (A) (into/with B) | integrate A and B
to combine two or more things so that they work together; to combine with sth else in this way
the problems involved in integrating the two businesses
INTEREST-FREE, adjective
used to describe loans on which the borrower does not have to pay interest
Ford said on Monday it was extending interest-free loans on some models.
You should always pay the loan off at the end of the interest-free period.
Twelve per cent of the loans made were interest-free.
interest-free credit/financing
an interest-free loan/period
JOINT VENTURE, noun
a new business that is started by two or more companies, often in the form of
an independent company whose shares they own
The two firms plan to launch a 50-50 joint venture (= one which they each own half of).
to create/form/have/launch/set up a joint venture (with sb/sth)
55

MARGIN, noun
the difference between the cost of buying or producing sth and the price that it is sold for, calculated as a
percentage of the selling price
They make an 18% margin on the sale of each phone.
Higher insurance and security costs had lowered the margin.
high-margin products
Generic drugs have higher margins for wholesalers than brand name products.
SYN PROFIT MARGIN GROSS MARGIN
to increase/make a margin
MANUFACTURE /mn.jfk.tr/

/-t/, verb [+ obj or no obj]

to make goods in large quantities from raw materials or parts, using machinery
The plant manufactures 500 000 cars annually.
MANUFACTURER, noun [C]
a person or company that produces goods in large quantities from raw materials or parts
an auto / computer / drugs / steel manufacturer
Always follow the manufacturer's instructionsy.
MEETING, noun
an occasion when people come together to discuss or decide sth
They held a meeting to discuss the future of the firm.
I have a meeting with my manager in an hour.
Ms Keane is in a meeting at the moment-can I take a message? (informal)
The meeting took place behind closed doors.
to arrange/call/have/hold/set up/organize a meeting
to cancel/delay/put off/postpone a meeting
to reschedule/schedule a meeting
to take part in/attend a meeting
to chair/conduct/run a meeting
an emergency /a private/public/special/team meeting
MERCHANDISE, noun [U]
1 (formal) goods that are bought or sold; goods that are for sale in a shop/store
The supermarket has expanded its range of non-food merchandise.
Wal-Mart, the general merchandise retailer
MONEY-BACK GUARANTEE, noun [C]
a promise to return customers' money if they are not satisfied with a product or service
Everything in our catalogue comes with a money-back guarantee.

56

NEGOTIATE /n g.i.et/ /- go-/, verb


1 [no obj] to try to reach an agreement by formal discussion
The government has refused to negotiate with the strikers.
I'm negotiating for a new contract.
I've managed to negotiate (= get by discussion) a five per cent pay increase with my boss.
2 [+ obj] to arrange sth or agree to sth by formal discussion
Bigger stores can negotiate better prices from suppliers.
NEGOTIATOR /ng.i.e.tr/ /- go.i.e.t /, noun
a person who is involved in formal discussions that aim to reach an agreement, especially because it is their
job
Some very skilful negotiators will be needed to settle this dispute.
a skilled negotiator
PACKAGE HOLIDAY, (also packaged holiday) (both BrE) (also package tour, AmE, BrE) (also package,
AmE, BrE informal), noun
a holiday/vacation that is organized by a company at a price that includes the cost of travel, hotels, etc
They went on a package holiday to Greece.
a package holiday operator
PROBE, verb
to ask questions in order to find out secret or hidden information about sb/ sth
PRODUCT RANGE, noun
a set of products of a particular type that are made or sold by a company
The company is trying to widen its product range.
The new car is seen as filling a gap in the companys product range.
product range (also product line) noun [C]
to broaden/expand/increase/widen the product range
PURCHASE, /p.ts/ /p-/, verb [T] formal
to buy
Tickets must be purchased two weeks in advance.
Except under clearly defined circumstances, it is illegal in Britain for a company to purchase its own shares.
She purchased her first house with the money.
RETAIL, noun [U]
the selling of goods to the public, especially through shops/stores
On leaving college, she decided on a career in retail.
The store combines food retail with home products.

57

RETAIL, adjective [only before noun]


connected with selling goods to the public, mainly through shops/stores
department stores and other retail outlets
The same trucks will soon be available to retail consumers (= individuals rather than businesses).
She sells through high-end retail outlets, mostly in the New York area.
a retail business/chain/group
retail outlets/space/stores/units
retail consumers/customers
the retail market/sector/trade
RETAIL, verb
2 [+ obj] to sell goods to the public, usually in small quantities
They had a family business manufacturing and retailing woollen goods.
RETAILER, noun [C]
(Commerce ) a business or a person that sells goods directly to the public
There have been strong sales by the big retailers.
clothing/electronics/food retailers
a retailer of computer products
They are one of Britains biggest fashion retailers.
Opp WHOLESALER
RETURN, (also product return), noun
goods that a customer has bought or ordered and then returned; the act of returning a product
All returns must be packed in the original packaging.
Product returns are accepted up to 90 days from date of invoice
SALE, noun
an act or the process of selling sth
to close/complete/lose/make a sale
a sale makes/raises ...
an occasion when a shop/store sells its goods at a lower price than usual
The sale starts on 28 December.
the January sales (BrE)
I bought a coat in the sales (= the period when many shops are selling goods at lower prices).
sale items/goods
an annual/end-of-season /a summer/winter sale
to have/hold a sale
Idioms
for sale: available to be bought
The company is not for sale.
The group has put its book business up for sale.
The building is offered for sale at 800 000.
for sale signs
58

on sale : 1 available to be bought, especially in a shop/store


This months magazine is now on sale at your local store.
The latest model goes on sale next week.
2 being offered at a reduced price
All DVD players are on sale today and tomorrow only.
SELF-SERVICE , adjective [usually before noun]
a self-service shop/store, restaurant, etc. is one in which customers serve themselves and then pay for the
goods
self-service check-in at the airport
self-service banking
self-service, noun [U]:
The cafe provides quick self-service at low prices.
STOCK, noun
1 (Commerce ; Production ) the goods that a business has for sale at a particular time
That particular model is not currently in stock .
Im afraid were temporarily out of stock .
SYN INVENTORY
2 (Accounting ; Production ) [U,C] (especially BrE) goods owned by a company, such as raw materials or parts,
products being made and finished products
Just-in-time manufacturing allows firms to reduce their stock levels and so cut storage costs.
STORAGE, noun
the process of keeping sth in a particular place until it is needed; the space where things can be
kept
The goods are in storage, waiting to be shipped.
We need to cut our storage costs.
Just-in-time manufacturing reduces the need for storage space.
long-term/short-term storage
VENUE, /ven.ju, noun [C]
a place where people meet for an organized event
The hotel is a popular venue for conferences.
a concert/conference /an entertainment/exhibition /a sporting venue
WAREHOUSE, noun [C]
a building where large quantities of goods are stored, especially before they are sent to
shops/stores to be sold
We have 30 000 square feet of warehouse space.

59

WHOLESALE, noun [U]


the buying and selling of goods in large quantities, especially to businesses, so that they can be sold again to
make a profit
I spent five years working in wholesale.
The company has changed its focus from wholesale to retail.
adjective [only before noun]
connected with goods that are bought in large quantities and sold to businesses so that they can be sold again
to make a profit
a wholesale business/distributor/division/group
wholesale goods/products/sales
the wholesale market/sector/trade

adverb

being bought and sold in large quantities to be sold again to make a profit
We buy the building materials wholesale.
verb [+ obj]
to sell goods in large quantities to businesses, so that they can be sold again to make a profit
60% of the fruit is wholesaled.
They import tea and wholesale it to retail stores.
WHOLESALER, noun [C]
(Commerce ) a person or a business that buys goods in large quantities and sells them to businesses, so they
can be sold again to make a profit
WINDOW-SHOPPING, noun [U]
the activity of looking at the goods in shop/store windows, usually without intending to buy anything
to go window-shopping
WIN-WIN, adjective
used to describe a situation in which everybody involved gains sth

60

_____________________EXERCISES FOR SELF-STUDY/ REVISION ______________________


EXERCISE1.
Use the following words to complete the text:

end-user
importers
quantities
retail
retailer

in bulk
services

manufacturers
store
wholesale

merchandise
wholesaler

RETAIL AND WHOLESALE


_____________________ is the selling of goods directly to the consumer, especially through
shops/stores. In other words, it consists of the sale of goods or _____________________ from a
fixed location, such as a department _____________________ or kiosk, or by post, in small or
individual lots for direct consumption by the purchaser. In commerce, a _____________________
buys

goods

or

products

in

large

quantities

from

_____________________

or

_______________________________, either directly or through a _____________________, and


then sells smaller quantities to the_____________________.
_____________________ refers to the selling of goods in large _____________________ at low
prices to shops and businesses for resale, rather than the selling of goods in shops to customers.
When a business sells products wholesale, we say they sell it _____________________.
EXERCISE 2.
Match the items on the right to the items on the left.

1.
2.
3.
4.

5.
6.
7.
8.
9.
10.

agenda
B2C
clicks and mortar
cooling-off
period
discount
dual pricing
joint venture
venue
warehouse
wholesaler

a. a list of topics to be discussed at a meeting


b. used to describe the selling of products, services or information to
consumers over the Internet
c. a person or a business that buys goods in large quantities and sells
them to businesses, so they can be sold again to make a profit
d. a period of time after sb has agreed to buy sth during which they
can change their mind
e. an amount of money that is taken off the usual cost of sth
f. a place where people meet for an organized event
g. that uses the Internet as well as physical shops/stores, etc. to sell
products
h. a new business that is started by two or more companies, often in
the form of an independent company whose shares they own
i. act of selling the same goods or services for different prices in
different markets
j. a building where large quantities of goods are stored, especially
before they are sent to shops/stores to be sold

1. _____ 2. _____ 3. _____ 4. _____ 5. _____ 6. _____ 7. _____ 8. _____ 9. _____ 10. _____
61

EXERCISE 3.
Fill in the blanks with missing letters (vowels and consonants).
1. If you return something you have bought and get something different or better instead, you : if
you e___ ___ ___ ___ ___ ___ ___ it or a shop/store e___ ___ ___ ___ ___ ___ ___ ___ it
2. E___ ___ ___ ___ ___ ___ ___ ___ is the set of rules or customs which control
accepted behaviour in particular social groups or social situations.
3. A___ ___ ___ ___ ___ is a list of matters to be discussed at a meeting.
4. If you look at a lot of things in a shop/store rather than looking for one particular thing, you
B___ ___ ___ ___ ___ .
5. E ___ ___ -___ ___ ___ ___ is a person who actually uses a product rather than one who
makes or sells it.
6. If you provide help to a customer after they have bought a product, e.g. you do repairs or give
advice on how to use the product, you offer an a___ ___ ___ ___ -___ ___ ___ ___ ___
s___ ___ ___ ___ ___ ___ .
7. Something that is bought or sold at a lower price than usual is a b__ __ ___ ___ ___ ___ .
8. If a business buys, orders or sells something in large amounts, usually at a reduced price, it
buys, orders or sells something in b ___ ___ ___ .
9. C___ ___ ___ ___ ___ ___ ___ ___ ___ is something that you allow or do, or allow sb
to have, in order to end an argument or to make a situation less difficult.
10. A period of time after you have agreed to buy something during which you can change your
mind is called c___ ___ ___ ___ ___ ___ -___ ___ ___ p___ ___ ___ ___ ___ .
11. The business of buying and selling things using the Internet is known as
E-___ ___ ___ ___ ___ ___ ___ ___ .
12. A loan on which the borrower does not have to pay interest is interest-f___ ___ ___ .
13. A new business that is started by two or more companies, often in the form of an independent
company whose shares they own is called j___ ___ ___ ___
v___ ___ ___ ___ ___ ___ .
14. M___ ___ ___ ___ ___ is the difference between the cost of buying or producing
something and the price that it is sold for, calculated as a percentage of the selling price.

62

EXERCISE 4.
Fill in the gaps with a suitable word. The first letter is in bold.
1. The hotel is a popular v_________________ for conferences.
2. Some very skilful n_________________ will be needed to settle this dispute.
3. Their computers are good value and they offer an excellent a___________-s___________
service.
4. Im afraid were temporarily o_________________ o___ s_________________.
5. The company is trying to widen its p_________________ r_________________.
6. The two firms plan to launch a 50-50 j_________________

v_________________ .

7. All DVD players are on s_________________ today and tomorrow only


8. Everything in our catalogue comes with a money-back g___________________________.
9. The next item on the a_________________ is the publicity budget.
10. I picked up a few good b_________________ in the sale.
11. We have 30 000 square feet of w_________________ space.
12. We only sell w_________________ , not to the public.
13. All returns must be packed in the original p_________________.
14. We need a fallback p_________________ if they dont accept our offer.
EXERCISE 5.
Complete the sentences with word from the box.
after-sales
guarantee

competition
cooling-off
interest-free
payment

credit card
return

exchange
stock

1. Sorry, those goods are not available. Were out of __________________________.


2. I signed a contract, but then I changed my mind. Fortunately, thre was a 20-day
__________________________ period.
3. Their website was not certified safe, so I didnt not enter my ________________________
details.
4. In a number of countries, cash is still the most widely used method of
__________________________.
5. Some companies offer __________________________ credit. You can pay after three or six
months at no extra cost.

63

6. We offer a money-back __________________________. The customer doesnt lose any money


if they return the goods.
7. Buyers dont just look for low prices. They also expect a good __________________________
service.
8. Cut-throat __________________________ is keeping prices relatively low.
9. Customers must __________________________ the goods within three days if they want to
get their money back.
10. We cannot __________________________ goods if the customer hasnt got the receipt.
EXERCISE 6.
Before negotiations begin, preparing and planning are very important. Put the following
steps of preparing and planning to negotiate in the right order. The first one was done as an
example.
_________Try to estimate the needs and objectives of the other side.
_________ If you are negotiating as part of a negotiating team, consult your colleagues about
previous points, and allocate roles and responsibilities.'
_________Prepare a fallback position: conditions that you will accept if your original objectives are
not met.
_________Perhaps you are in a position to influence the choice of venue: the place where you are
going to meet. If so, would you prefer to:be on your own ground / on home ground (in your own
offices), go to see the other side on their ground (in their offices) or meet on neutral ground, for
example in a hotel?
___1_____Get as much information as possible about the situation. If dealing with people from
another culture, find out about its etiquette and negotiating styles: the way people negotiate, what
they consider to be acceptable and unacceptable behavior, and so on.
_________Work out your initial bargaining position: what are your needs and objectives (the
things hat you want to achieve)? Decide your priorities (the most important objectives).
EXERCISE 7.
Put the words in the following phrases used when closing a deal in the right order. The first
one was done as an example.
1. points me just over Let the go main
_______Let me just go over the main points._____________________________________
2. performance concerned As as is far
____________________________________________________________________
64

3. you we engine per agreed that improve the cent of the by would ten power
____________________________________________________________________
4. delivery would dates, 120 months agreed that you us with units over On supply we four
____________________________________________________________________
5. currency still have for the payment of the to We settle question
____________________________________________________________________
6. outstanding documentation And issue of is the there.
____________________________________________________________________
7. on these proposal last send two We'll a written issues you.
____________________________________________________________________
8. draw you points based to the, up a agree contract If on those proposal we'll.
____________________________________________________________________
9. covers think that everything I.
____________________________________________________________________
EXERCISE 8.
A businesswoman is talking about a negotiation she recently took part in. Match the
negotiating tips to the correct statement.
1. Listen carefully.
2. Summarize often the
points you agree on

a. Whenever they were saying something, I gave them my


full attention and never interrupted.
b. When I asked him to confirm if he agreed to the

3. Have a lot of options

deadline, he stopped making eye contact and started

4. Change your strategy

rubbing his forehead.

during the negotiation if


necessary

c. They became aggressive, so I decided to adopt a


different approach.

5. Pay attention to the other


sides body language
6. Ask a lot of questions
7. Have clear aims

d. If our initial proposal didnt work, I knew I had a second


one, and even a third.
e. I asked them about their other projects, who exactly did
business with, how they planned to deal with a fall or an
increase in demand, and so many other things.
f. From the beginning, I knew exactly what I wanted.
g. Everytime we agreed on a point, I just said, in a few
words, all the things wed agrred on so far.

1. _____ 2. _____ 3. _____ 4. _____ 5. _____ 6. _____ 7. _____

65

EXERCISE 9.
Complete the crossword

ACROSS

1: to make goods in large quantities from raw materials or parts, using machinery
3: to look at a lot of things in a shop/store rather than looking for one particular thing
6: the selling of goods to the public, especially through shops/stores
7: to try to reach an agreement by formal discussion
8: the buying and selling of goods in large quantities, especially to businesses, so that they can be
sold again to make a profit
10: the rules of polite and correct behaviour
11: an amount of money that is taken off the usual cost of sth
13: (formal) to buy
15: the difference between the cost of buying or producing sth and the price that it is sold for,
calculated as a percentage of the selling price
16: selling goods on the Internet
17: the goods that a business has for sale at a particular time
DOWN
1: goods that are bought or sold; goods that are for sale in a shop/store
2: goods that a customer has bought or ordered and then returned; the act of returning a product
4: the process of keeping sth in a particular place until it is needed; the space where things can be
kept
5: a building where large quantities of goods are stored, especially before they are sent to
shops/stores to be sold
9: the act of taking goods, letters, etc. to the people they have been sent to
12: something that is bought or sold at a lower price than usual
14: a place where people meet for an organized event
15: to combine two or more things so that they work together; to combine with sth else in this way

66

15

10

17

11

12

13

14

15

16

18

67

EXERCISE 8.
Answer the following questions.

1. How has shopping changed in the last 100 years?


2. What is e-commerce?
3. What is the difference between retail and wholesale?
4. What types of retail stores do you know?
5. What is B2B, B2G and B2C? Give examples.
6. What is the difference between clicks-and-mortar (bricks-and-mortar, click-and-bricks)
and pure e-tailing/ pure e-tailer?
7. Why are amazon.com and e-bay examples of a successful e-business?
8. What is multi-channel retailing?
9. Who/What is a pure e-tailer?
10. Why does online shopping make the market extremely competitive?
11. Why are retailers who sell products both online and in a shop in a difficult position?
12. How can retailers make the best of both the online and offline world?
13. What is negotiation? Give some negotiating tips

68

READING TASK
1. Read the article below on Amazon.com. Before you start reading, answer the following
questions.
1. How often do you read a book or newspaper? How often do you use the Internet?
2. Which activity do you prefer doing?
3. What are your opinions about shopping online?
4. Do you think people will ever stop reading books completely and will do all their reading
via the Internet?
2. Read the text to find the answers to these comprehension and vocabulary questions.
a) Comprehension questions
1. Who started Amazon.com and where and when did he start it?
2. What are the two reasons that investors thought Amazon would fail when it started?
b) Vocabulary Questions
Find the word or phrase from the text to complete these sentences.
3. F___ ___ ___ ___ s___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___
p___ ___ ___ ___ ___ ___ is where the price of a product is definite and does not
change when sold in different places.
4. If someone or something has p___ ___ ___ ___ ___ ___ ___ ___ , it means it has a
natural ability or quality that will make it successful (although it might not be successful
yet).
5. P___ ___ ___ ___ ___ ___ ___ refers to the way people do a particular task or activity
e.g. Bill does business very differently, he has some unusual business
p___ ___ ___ ___ ___ ___ ___ s.
6. C___ ___ ___ ___ ___ ___ ___ are people you know who might be able to help or
advise you.
7. If you are d___ ___ ___ ___ ___ ___ ___ ___ ___ ___ , you no longer have the
confidence you need to continue doing something.

69

Introduction
Many people thought that the Internet would cause the death of the Book. For generations, the
Book has been the medium for storage and communication of ideas. Many people suggested
that the Internet would become the new medium for storage and communication of ideas. All
the books produced over the past hundreds of years would be converted to web pages and the
traditional paper book would disappear.
It is strange that one of the first successful e-commerce businesses, Amazon.com, should have
started by selling books, hundreds of millions of books.

What is e-commerce?
MAIL ORDER
The enormous geographical distances in the USA created the first examples of catalogue
shopping. In the 1890s the Sears, Roebuck catalogue sold everything from tin openers to
grandfather clocks, from the latest hats to agricultural machinery. Sears, Roebuck introduced the
idea of fixed standardised pricing. This was important when the buyer was perhaps 10,000 miles
from the seller.
E-COMMERCE
E-commerce can be seen as a development from catalogue shopping. The major difference
being the speed of electronic communication and use of debit and credit cards for payment. A
few years ago it seemed unimaginable that people would buy airline tickets, music CDs, books,
insurance policies, investments and even houses and perfume through the Internet. One of the
first people to recognise and exploit the potential of e-commerce, Jeffrey Preston Bezos of
Amazon.com.
The Story of Amazon.com
As we have seen in other companies, very often the company is created by the enthusiasm of a
singular individual. We have seen Stelios Haji-Ioannou from easyJet, Masuru Ibuka and Akio
Morita in the Sony Corporation, Bill Gates in Microsoft. Amazon.com is the child of Jeffrey
Preston Bezos (pronounced bay-zos). book selling is a very traditional business. Customers like
to search the shelves of their local bookshop. They want to ask the opinions of the bookshop
staff. They like to be able to touch a book, feel its weight, flick through its pages. Book buyers
were frightened of the Internet and particularly frightened of typing their credit card numbers
into the Internet.In the early 1990s, most people did not believe in the future of e-commerce.
They did not believe that people would change their traditional retail practices. Yet in book
selling, one of the oldest and most traditional forms of trade, Amazon.com established its

70

first success.
In the summer of 1994, Bezos left his well-paid job in a New York City investment firm and
drove across the USA to Seattle and started what he believed would be a good business. When
he left New York he did not have a plan. By the time he arrived in Seattle he had an idea to sell
books over the Internet. Investors thought he was crazy.

WHY DID INVESTORS THINK BEZOS WAS CRAZY?


Investors had very good reasons to think that Bezos would fail. Firstly, he had no experience of
book selling no knowledge, no network of contacts. Secondly, book selling is a very traditional
business. Customers like to search the shelves of their local bookshop. They want to ask the
opinions of the bookshop staff. They like to be able to touch a book, feel its weight, flick
through its pages. Book buyers were frightened of the Internet and particularly frightened of
typing their credit card numbers into the Internet.

HOW DID BEZOS RESPOND?


Bezos was not discouraged by the investors reaction. He was convinced it would work.
One of his great strengths is that he knows what he does not know. Bezos hired people with
good knowledge of the book business. He hired excellent computer programmers and web site
designers. He hired financial experts who would make online buying a simple and secure
process.
Bezos created a web site which was more than a simple catalogue and price list. The web site
included reviews of the books written by other customers. The web site suggested alternatives
and recommended other books on the same topic. The web site became as user-friendly as a
traditional bookshop.

HOW DID BEZOS EXPAND?


As the first orders for books began to arrive, Bezos began to understand that amazon.com was
more than just a bookshop, it was a new buying location. Very quickly Bezos added CDs, videos
and DVD movies and videogames to his catalogue.

71

UNIT 3: COMPANIES
INDUSTRY.
An industry is the manufacturing of a good or service within a category. Although industry is a
broad term for any kind of economic production, in economics industry is a synonym for the
secondary sector, which is a type of economic activity involved in the manufacturing of raw
materials into goods and products.
There are three key industrial economic sectors:
-

the primary sector, largely raw material extraction industries such as mining and farming;

the secondary sector, involving construction, and manufacturing;

the tertiary sector, which deals with services (such as law and medicine) and distribution
of manufactured goods.
The

PRIMARY

sector of the economy involves

changing natural resources into primary products.


Most products from this sector are considered raw
materials for other industries. Major businesses in
this sector include agriculture, agribusiness, fishing,
forestry and all mining and quarrying industries.
A decreasing proportion of the labor force in
developed and developing countries work in the primary sector, e.g. the proportion in the United
Sates has fallen to about 3% today from about 70% in the mid-nineteenth century.

The

SECONDARY

sector of the economy includes

those industries that create a finished and usable


product from the raw materials: manufacturing and
construction. This sector generally takes the output
of the primary sector and manufactures finished
goods or where they are suitable for use by other
businesses, for export, or sale to domestic
consumers. The secondary sector includes the
production of such things as automobiles, textiles, ships and chemicals. This sector can be
divided into light (relatively small products) and heavy (larger products).
72

The general definition of the

TERTIARY

sector of the

economy involves services to both consumers and


businesses, including retail and wholesale sales,
transportation, entertainment, banking, healthcare and
clerical. For example, today, more than 80% of
the workforce in the United States is employed in this sector. The service sector consists of the
"soft" parts of the economy such as insurance, government, tourism, banking, retail, education,
and social services. Typically the output of this sector is content (information), service, attention,
advice, experiences, and/or discussion (also known as "intangible goods").
Other examples of service sector employment include:
-

the quaternary sector, a relatively new type of knowledge industry focusing on

technological research, design and development such as computer programming, and


biochemistry. It principally concerns the intellectual services: information generation, information
sharing, consultation, education and R&D. This sector of the economy is concerned with
intellectual activities, such as government, research, and cultural programs.
-

A fifth quinary sector has been proposed encompassing nonprofit activities. The quinary

sector of the economy is the sector of industry suggested by some economists as comprising
health, education, culture, research, police, fire service, and other government industries not
intended to make a profit.
The economy is also broadly separated into public sector and private sector, with industry
generally categorized as private. Industries are also any business or manufacturing.

Clark's Sector Model

73

BUSINESS AND BUSINESSES


Business is the activity of producing, buying and selling goods and services. A business,
company, firm or more formally, a concern, sells goods or services. A large company, especially
in the US, is a corporation. A company may be called an enterprise, especially to emphasize its
risk-taking nature.
Businesses vary in size and range from the self-employed person, through the SME (the small to
medium-sized enterprise) to large multinational with its hierarchy, tens of thousands of
employees and activities in several countries.
TYPES OF BUSINESS ACCORDING TO SIZE
SELF-EMPLOYED

person can also be referred to as a person works

for himself/herself instead of an employer (is not employed by a company),


but drawing income from a trade or business that they operate personally.
If they are plumbers or builders they are described as self-employed, while
people such as designers and journalists are described as free-lancers. Freelancer is a person who works as a writer, designer, performer, or the like,
selling work or services by the hour, day, job, etc., rather than working on a regular salary basis
for one employer. A lot of professional people like lawyers, architects or accountants work in
partnerships.
SMALL AND MEDIUM-SIZED ENTERPRISE

(abbr SME. Small or/to medium-sized

enterprise is also used and in AmE small and medium-sized businesses or SMBs) is a business
that does not have a large number of employees or sell a large amount of goods and services, and
is often run by a family. Companies whoseheadcount (=number of employees) or turnover falls
below certain limits are classified as SMEs. In most economies, smaller enterprises are much
greater in number. In the EU, SMEs comprise approximately 99% of all firms and employ
between them about 65 million people. In many sectors, SMEs are also responsible for driving
innovation and competition. Globally SMEs account for 99% of business numbers and 40% to
50% of GDP. The tissue of most national economies is made up of much smaller organizations.
Many countries owe much of their prosperity to SMEs (small and medium sized enterprises) with
tens or hundreds of employees, rather than tens of thousands employed by large corporations.
COMPANY

is a business organization selling goods or services, especially one that has been

officially created (registered) in a particular country and is owned by shareholders. A large


company or group of companies is called

CORPORATION.

A corporation or enterprise that

manages production establishments or delivers services in at least two countries is called a


74

MULTINATIONAL CORPORATION.

Their local subsidiaries give them sometimes global reach,

even if their corporate culture, the way they do things, depends largely on their country of origin.
Important characteristics of companies/corporations

a number of official procedures to follow

the company exists independently of its members and can last for ever

the people who run the business can be different from those who own it

the owners are responsible for a limited amount of the company's debts, equal to the
value of their investment
VOCABULARY BUILDING: WHICH WORD?

CORPORATION / COMPANY
In both BrE and AmE, the word company can refer to any type of business organization, but it
usually refers to a business that has been incorporated (= created according to a particular set of
laws). The laws of different countries allow for different types of companies to be created. The
type of company is shown by an abbreviation after its name.
In AmE, but not BrE, the word corporation is used after the name of a business to show that it
has been incorporated.
In BrE, the word corporation is usually used for foreign or international companies or public
organizations: a multinational corporation the British Broadcasting Corporation (BBC)
TYPES OF BUSINESS ENTITY
There are many types of business entity defined in the legal systems of various countries. These
include corporations, partnerships, sole traders and other specialized types of organization. Here
are some of the most common legal forms of business in the UK.
A

SOLE PROPRIETORSHIP,

or simply proprietorship (BrE: sole trader) is a business that

is owned and run by one person. It is a "sole" proprietorship in the sense that the owner has no
partners. The business and the owner are the same person in law. A sole proprietorship
essentially refers to a natural person (individual) doing business in his or her own name and in
which there is only one owner. The person who organized the business pays personal income
taxes on the profits made. All debts of the business are debts of the owner. The person who sets
up the company has sole responsibility for the company's debts (unlimited liability), i.e. the owner
is responsible for all the debts of the business. Most sole proprietors will register a trade name or
a DBA (Doing Business As). This allows the proprietor to do business under a name other than
their proper legal name and also to open a business account with banking institutions.
75

Important characteristics of sole traders/sole proprietorships

few or no official procedures to follow

the person starting the business is responsible for its debts


GENERAL PARTNERSHIP

(or simply a partnership) is a type of

business entity that is owned by a group of professional people


who work together and share the profits or losses of the business
undertaking in which all have invested, i.e. it is a business owned
by two or more people (partners) who are personally liable for all
business debts. Partnerships are often favored over corporations for taxation purposes. To form
a partnership, each partner normally contributes money, valuable property or labor in exchange
for a partnership share, which reflects the amount contributed.
Important characteristics of partnerships

they can usually be established without following a formal procedure, although there is
often a written agreement between the partners

each partner is personally responsible for the debts of the business

each partner can act as a representative of the business

LIMITED LIABILITY PARTNERSHIP

is a partnership in which some or all partners (depending on

the jurisdiction) have limited liability. This type of partnership protects a partner from personal
liability for negligent acts committed by other partners or by employees not under his or her
direct control.
UNLIMITED PARTNERSHIP

is a type of partnership where the members liability is unlimited -

i.e., they are liable to contribute any sums required to pay off the company debts, should it go
into bankruptcy.
PRIVATE COMPANY (LTD.) is

a company which is not permitted to offer its shares to the public.

This legal form tends to be used for smaller businesses. There is no minimum capital
requirement. Approximately 90% of private companies are small or medium- sized.
PUBLIC LIMITED COMPANY (PLC)

as a legal form is appropriate for larger businesses where

shares are intended to be available to the general public. The company is not obliged to offer its
shares for sale, and it can remain as private as the shareholders wish.

76

OWNERSHIP OF A BUSINESS
A

GOVERNMENT-OWNED

CORPORATION,

GOVERNMENT BUSINESS ENTERPRISE

STATE-OWNED

ENTERPRISE

OR

is a legal entity created by a government to undertake

commercial or business activities on behalf of an owner government.


In Western Europe there was a massive nationalization throughout the 1900s, especially
after World War II to ensure Government control over natural monopolies and to some extent
industry. Typical sectors included telecommunications, power, petroleum, railways, airports,
airlines, public transport, health care, postal services and sometimes banks. Many large industrial
corporations were also nationalized or created as Government corporations, including among
many British Steel, Statoil and Irish Sugar. Starting in the late 1970s and accelerating through the
1980s and 1990s many of these corporations were privatized, though many still remain wholly or
partially owned by the respective governments.
In the United States, businesses that are government
owned include the National Railroad Passenger Corporation
(d/b/a Amtrak), Fannie Mae, Freddy Mac, Tennessee Valley
Authority, Corporation for Public Broadcasting and the United
States Postal Service.
Some companies are privately owned, managed or provided by an individual person or an
independent company, rather than by the state.
A PRIVATE COMPANY (also private limited company, privately-held company, also unquoted
company, unlisted company) is a company whose shares may not be bought and sold by the
public. Though less visible than their publicly traded counterparts, private companies have a
major importance in the world's economy.
Koch

Industries,

Bechtel,

Cargill,

Chrysler,

PricewaterhouseCoopers, Flying J, Ernst & Young,


Publix, and Mars are among the largest privately held
companies in the United States.
IKEA, Victorinox, and Bosch are examples of
Europe's largest privately held companies.
On the other hand, a PUBLICLY QUOTED COMPANY (also publicly-owned or publicly-held
company or listed company) is a company whose shares can be bought and sold on the stock
market, etc. If the name of a company is recorded on a stock exchange so that its shares can be
bought and sold, we say that the company is quoted or listed (on the stock exchange.). This type of
company is owned by shareholders.
77

COMPANY ABBREVIATIONS
Abbreviations like Ltd or Corp. often appear after the names of businesses. They are usually
required by law and tell you something about the type of company that has been established. For
guidance, approximate equivalents in the company law of English-speaking countries are given in
most cases, e.g. p.l.c. (UK), Ltd. (UK), limited partnership, etc. It should be remembered,
however, that the regulations governing particular types of entity, even those described as roughly
equivalent, may differ to a greater or lesser extent between countries.
IN THE UK

Ltd (AmE spelling Ltd.) abbr (only used in written English)


(abbreviation for 'limited')
Limited company is a company that is owned by a small number
of people, often members of a family, and can be run by a single
person. A limited company or limited liability company is a
company whose owners have responsibility for paying only a limited amount of the companys
debt if it goes bankrupt. Limited in their name means their liability is limited by law.

d.o.o. (drutvo s ogranienom odgovornou): Ltd. (UK)

plc (also spelled PLC) (usually used in written English) (abbreviation for public limited company)
Public limited company is a large company that can sell its shares to the public on a stock
exchange and has a board of directors similar to the U.S. Corporation (Corp)

d.d. (dioniko drutvo): p.l.c. (UK)

javno trgovako drutvo: general partnership

komanditno drutvo: limited partnership

IN THE US

Corp. (=a short way of writing corporation); Co. (usually used in written English)
(= company; ); Inc. (= incorporated) (=used in the names of companies in the US as a short way
of writing Incorporated (= officially created as a company))
These abbreviations indicate that a business is a company but give no information about its size,
number of shareholders or management.
LLC (usually used in written English) (= limited liability company) a company owned by a group of
people who usually also run the business
78

IN OTHER COUNTRIES

AG in Germany, a large company that can sell shares to the public and is run by a group
of managers
GmbH in Germany, a company with one or a number of shareholders. It cannot sell
shares to the public.
Pty (= proprietary) used in Australia and South Africa for companies that are owned by a
small number of people
SA in France and Spain, a large company that can sell shares to the public and is run by a
board of directors
SARL in France, a company with a small number of shareholders
SpA in Italy, a company with one or a number of shareholders. It can sell shares to the
public and is run by a board of directors or group of managers
DESCRIBING COMPANIES
The principle in every form of business is the same: to survive - the money coming in has to be
more than the money going out. The amount of money a company receives from sales in a
particular period is called its turnover. Its profit is the money it makes after paying the costs.
Companies with shareholders want more than just survival they want return on investment
(ROI). Return on investment is a measure of how much profit an investment produces
compared with the amount originally invested. The company has to be managed to maximize
profitability to investors who demand shareholder value: increased dividends (an amount of
the profits that a company pays to shareholders) and a rising share price.
Profitability is the key. Formulas for success are the subject of thousands of business courses
and business books. Of course, what works for one person may not work for others.
WHAT MAKES A SUCCESSFUL COMPANY?

A good example of a

successful company is IKEA, a Swedish furniture company


specializing in low-cost furniture with simple, modern designs.
The company, which pioneered flat-pack design furniture at
affordable prices, is now the world's largest furniture
manufacturer. Ready-to-assemble (RTA) furniture, also

79

known as "knock-down furniture" or "flat pack furniture", is a form of furniture that is


purchased in multiple pieces and requires assembly. This form of furniture generally arrives in a
box and contains instructions for the buyer to follow in order to assemble it after purchase.
WHAT MAKES A RESPECTED COMPANY?

There are several characteristics that make a company

respected:
Innovation = introduction or development of new things, ideas or ways of doing
something
Shareholder value (AmE usually stockholder value) = the financial benefits that a
companys shareholders have, in the form of dividends and the value of their shares if
they sell them
Customer service = the way in which a company treats its customers and answers their
questions, complaints, etc:
Community commitment (= the way in which a company supports the community in
which it operates by creating jobs, protecting the environment, giving money to charity,
etc.)

80

LANGUAGE REVIEW
PRESENT SIMPLE & PRESENT CONTINUOUS

PRESENT SIMPLE is used:


to talk about things that are true in general
o The Earth goes round the Sun.
give factual information about permanent activities
o Zodiac has its headquarters in Seattle.;
o Valentino makes luxury chocolates.;
o The shops open at 9 o'clock and close at 5.30.
describe a state that doesnt change
o He looks like his father.
talk about routine activities, repeated actions or habits
o I always check my e-mail first thing in the morning.
with always / never / usually / often / sometimes
o Sue always arrives at work early.; I usually go to work by car but sometimes I walk.
with verbs that describe permanent states or situations (do not use ing with these
verbs)
o What do you mean? *NOT What are you meaning?
o The decision involves taking a risk. NOT The decision is involving. . .
o The premises dont belong to them. NOT The premises arent belonging. . .
o He doesnt remember her name. NOT He isnt remembering. . .
PRESENT CONTINUOUS is used:
describe ongoing situations and projects (those that are in progress at the moment of
speaking
o Were constantly improving the way we sell our products.
o Shes talking to him on the phone right now.
describe temporary situations
o Shes staying in Paris till the end of the month.;
81

o The delegation is staying at the Hilton until Friday.


talk about future arrangements. (Note that the time must be mentioned, or have been
mentioned, as otherwise there may be confusion between present and future.)
o Were opening a new store next week.; Hes starting a new job next week.
describe changing situations.
o Were developing a new marketing strategy.
VERBS NOT NORMALLY USED IN THE CONTINUOUS TENSES

verbs of the senses: feel, hear, see, smell;

notice and observe.

verbs expressing feelings and emotions: adore, desire, detest, dislike, fear, hate, like, loathe,
love, respect, value, want, wish ;

belong, owe, own, possess

verbs of mental activity: agree, assume, believe, feel sure/ certain, forget, know, mean, perceive,
realize, recall, recognize, remember, see (=understand), suppose, think (=have an opinion)

More about present simple and continuous: SB, page 120

82

_______________________UNIT 3: COMPANIES - GLOSSARY

BREAK DOWN; BREAK STH DOWN, verb


fail to function properly; to stop working, or stop working properly, effectively, or usefully
CHIEF EXECUTIVE OFFICER (also chief executive, especially in BrE), noun [C] (abbr
CEO)
the person in a company who has the most power and authority and is responsible for managing its daily
affairs under the authority of the board of directors
He is the chairman and chief executive officer.
to appoint sb (as)/name sb (as)/promote sb to chief executive officer to
be/become/retire as/serve as chief executive officer
NOTE The chief executive officer is usually a member of a companys board of directors. In
the US (but not the UK) the CEO is often also the chairman of the board.
COMPETITION, noun
1 [U] a situation in which people or organizations compete with each other for sth that not everyone can
have
He really wants the job, but he will be facing stiff competition.
We are in competition with four other companies for the contract.
They are under pressure to cut costs amid growing competition from foreign firms.
aggressive/fair/fierce/stiff/tough/unfair competition
growing/increasing/intensifying competition
COMPANY, noun [C] (plural companies)
a business organization selling goods or services, especially one that has been officially created
(registered) in a particular country and is owned by shareholders
The company was founded in 1995.
Shes been working for the same company for 15 years.
Four directors have resigned from the company.
The company is listed (= its shares are traded) on the Johannesburg Stock Exchange.
IDIOMS
take a company public; a company goes public
if you take a company public or a company goes public, it becomes part of a stock exchange and its
shares can be bought and sold by the public
Since the company went public, its stock price has soared from $12 to $75.
CORPORATE CULTURE (also organizational culture), noun [U, C]
the ideas, beliefs and values of a particular company or organization
We are trying to make our corporate culture more international.
Organizational culture, or corporate culture, comprises the attitudes, experiences, beliefs and values of
an organization. It has been defined as "the specific collection of values and norms that are shared by
people and groups in an organization and that control the way they interact with each other and with
stakeholders outside the organization.
CUSTOMER-FOCUSED, adjective
giving all your attention and effort to the needs of customers
They have changed from a sales-oriented to a customer-focused business.
customer focus noun [U; C, usually sing.]

83

DELAY, noun [C]


a period of time when sb/sth has to wait because of a problem that makes sth slow or late
The project has suffered a number of delays.
There have been delays in the launch of the new service.
DELAYERING, noun [U] (H R )
the act of reducing the number of levels of staff in a company, especially by removing a level of managers
from their jobs
the delayering of middle management
Restructuring and delayering have meant that many experienced people in their forties and fifties are out of jobs.
Delayer, verb [+ obj or no obj]
The company is delayering its management structure.
We have recognized the need to delayer and downsize.
DEMOTIVATE, verb [+ obj]
(H R ) (often be demotivated) to make sb not want to work or study
If you hire bright people you dont want to demotivate them.
OPP MOTIVATE
demotivated adjective, He became demotivated at university and left without any qualifications.
demotivate adjective, Too many assessments can be demotivating for staff.
DISMISS, verb
(H R ) to officially remove an employee from their job
DIVIDEND (abbr div) (also share dividend), noun [C]
an amount of the profits that a company pays to shareholders
The company will pay a dividend of 10 cents a share.
DOWNSIZE, verb [+ obj or no obj]
(H R ) to reduce the number of people who work in a company, business, etc. in order to reduce costs
Several of their smaller offices are being downsized.
The company has downsized to eight employees.
downsizing noun [U, C]
EMPLOY, verb [+ obj]
1 to give sb a job to do for payment
How many people does the company employ?
For the past three years he has been employed as a systems analyst.
The number of people employed in manufacturing has fallen.
IT workers employed to install new computer systems
ENVIRONMENTALLY-FRIENDLY (also environment-friendly), adjective
(about products) not harming the environment
environmentally-friendly cars/energy/fuel/packaging
EXPAND, verb [+ obj or no obj]
2 if a business expands or is expanded, new branches are opened, it makes more money, etc
Our business has expanded rapidly, from 16 to 30 stores in a year.
The group wants to expand its presence in the Balkan region.
The company expanded aggressively through a series of acquisitions.
HANDMADE, adjective
made by a person using their hands rather than by machines
handmade shoes and bags/products
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HEAD OFFICE (abbr HO) (also main office), noun


the main office of a company; the managers who work there
Their head office is in New York.
INVEST, verb
1 [+ obj or no obj] to buy property, shares, etc. in order to sell them again and make a profit
Now is a good time to invest in the property market.
We have invested 100 000 in the business. More individuals are investing.
MANUFACTURE, verb [+ obj or no obj]
to make goods in large quantities from raw materials or parts, using machinery
The plant manufactures 500 000 cars annually.
They have a contract to manufacture one million TV sets.
Several companies manufacture for the printing industry.
MARKET SHARE, noun [C, U]
the amount of sales of a particular type of product that a company has, compared with the total sales
The companys US market share fell from 23.4% to 21.2%.
Our market share increased in all segments.
to boost/build/grow/increase market share
to gain/grab/take/win market share
to lose/maintain market share
LIST, verb [+ obj or no obj]
(Stock Exchange ) [+ obj or no obj] to make shares in a company available for trading on a stock
exchange
The company has applied to list its shares on the New York Stock Exchange.
This Swiss firm listed in London three years ago.
PERFORMANCE-RELATED BONUS, noun
a financial reward to employees whose work is above average
PROFIT, noun [C, U]
the money that you make in business or by selling things, especially after paying the costs involved
They reported a profit of $512 million.
The sale generated record profits.
Profit from exports rose 7.3%.
They should be able to sell at a profit.
OPP LOSS
a big/healthy/high/record/substantial profit
a low/modest/small profit
an annual/a first-quarter/full-year/half-year profit
an after-tax /a pre-tax/taxable profit
a drop/fall/increase/jump/rise in profits
to bring (in)/generate/make/report/show a profit
PROFITABILITY, noun [U]
We aim to increase profitability.
Profitable = that makes or is likely to make money

85

QUOTE, verb [+ obj]


(Stock Exchange ) to record the name of a company on a stock exchange so that its shares can be bought
and sold
The company is quoted on the New York stock exchange.
RECRUIT, verb
1 (H R ) [+ obj or no obj]
to find new people to join a company or an organization
We need to pay top salaries to recruit and retain the best people.
200 new employees have been recruited.
Shes responsible for recruiting at all levels.
RETURN ON INVESTMENT (abbr ROI) (also return on capital), noun [U, C]
a measure of how much profit an investment produces compared with the amount originally invested
SALES REPRESENTATIVE (also sales rep, rep, informal) (also representative, trade representative)
noun [C]
a person who sells a companys goods or services by visiting possible customers, usually receiving a
commission on what they sell:
We now have more than 200 sales representatives around the country.
She started her career as a sales rep and is now a sales manager.
SHARE/STOCK, noun [C]
any of the units of equal value into which a company is divided and sold to raise money. People who own
shares become owners of the company and receive part of the companys profits. Either shares [plural] or
stock [U] can be used to describe the amount of a company that a person owns or a company's value on
the stock exchange. In this sense, share is more common in BrE and stock more common in AmE
shares in British Airways
The retailer will issue 24 million new shares worth 3 billion. Will this affect the value of my shares?
The bank holds 60% of the company's shares/stock.
The publisher's stock rose to $27.87 a share.
to acquire/buy/have/hold/own/sell shares
to deal in/invest in/trade in shares
to float/issue shares
SHAREHOLDER (especially BrE) (AmE usually stockholder), noun [C]
a person or group that owns shares in a company or business
They are the biggest shareholder in EFM, with a 30% stake.
a shareholders' meeting
a big/large/leading/major/substantial shareholder
the controlling/main/principal shareholder
86

SHAREHOLDER VALUE (especially BrE) (AmE usually stockholder value), noun [U, C]
the financial benefits that a companys shareholders have, in the form of dividends and the value of their
shares if they sell them
We are committed to delivering long-term shareholder value through continued revenue and earnings growth.
SHARE PRICE (BrE) (AmE stock price), noun [C]
(Stock Exchange ) the price at which a companys shares are bought and sold at a particular time
The companys share price has dropped by half since April.
You can check the latest share prices at the Stock Exchange website.
SLOWDOWN, noun [C, usually sing.]
a reduction in speed or activity
a slowdown in economic growth
A sharp consumer slowdown may hit new car sales in the UK.
SMALL AND MEDIUM-SIZED ENTERPRISE, noun [C] (abbr SME)
a business that does not have a large number of employees or sell a large amount of goods and services,
and is often run by a family
NOTE Small or/to medium-sized enterprise is also used.
SPONSORSHIP, noun [U, C]
(Marketing ) the act of providing money for a special event, a sports team, etc. in order to advertise
products; the money that is provided
corporate sponsorship of the arts
Local companies have provided 2 million in sponsorship for the scholarships.
, noun [C] (plural subsidiaries)
SUBSIDIARY
a company that is owned or controlled by another company
Exis Power, a 58%-owned subsidiary of Exis Corp
SUPPLY, noun (plural supplies)
1 [U] the act of providing sth or making it available to be used
A delay in the supply of parts stopped work at the plant for a week.
3 [U] the amount of sth that is offered for sale
When demand for a product exceeds supply, it is usual for the price to go up.
to match supply with demand
SUPPLY AND DEMAND
to exceed/match/outstrip supply
supply falls/increases
SUPPLY, verb [+ obj] (supplies, supplying, supplied, supplied)
1 to provide raw materials, equipment, etc. to companies, especially in large quantities; to provide goods or
services
The company supplies Daewoo with a range of equipment.
We supply Internet-based services to big businesses in Europe.
TURNOVER, noun [C, usually sing., U], in AmE SALES
the total value of goods or services sold by a company during a particular period of time
The firm has an annual turnover of $75 million.
SYN SALES REVENUE
annual/daily/first-half/full-year/yearly turnover
an overall /a total/worldwide turnover
a high/low/strong turnover
87

WORKFORCE (also spelled work force, especially in AmE), noun [C with sing. /pl. verb]
1 all the people who work for a particular company, organization, etc
The factory will have to lose half of its 1 000-strong workforce.
Two-thirds of the workforce is/are women.
The group plans to cut over 100 jobs, about 1% of its total workforce.
Workforce planning is an ongoing process that influences all aspects of an organization.
SYN STAFF
the entire/total/worldwide workforce
2 all the people in a country or an area who are available for work
A quarter of the local workforce is/are unemployed.
an educated /a skilled/trained workforce
SYN LABOUR FORCE

88

__________________EXERCISES FOR SELF-STUDY/ REVISION ______________________


EXERCISE1.
Match the items on the right to the items on the left.
a. the act of providing money for a special event, a sports
team, etc. in order to advertise products
b. a person who sells a companys goods or services by
corporate culture
visiting possible customers, usually receiving a
commission on what they sell
delay
c. the money that you make in business or by selling
things, especially after paying the costs involved
delayering
d. a period of time when sb/sth has to wait because of a
problem that makes sth slow or late
downsize
e. all the people who work for a particular company,
organization, etc
manufacture
f. to reduce the number of people who work in a
company, business, etc. in order to reduce costs
g. to make goods in large quantities from raw materials or
market share
parts, using machinery
h. a financial reward to employees whose work is above
performance-related
average
i. to record the name of a company on a stock exchange
bonus
so that its shares can be bought and sold
j. a measure of how much profit an investment produces
profit
compared with the amount originally invested
k. the financial benefits that a companys shareholders
quote
have, in the form of dividends and the value of their
shares if they sell them
return on investment
l. the ideas, beliefs and values of a particular company or
organization
sales representative
m. the amount of sales of a particular type of product that
n. a company has, compared with the total sales
shareholder value
o. the act of reducing the number of levels of staff in a
company, especially by removing a level of managers
sponsorship
from their jobs
p. the total value of goods or services sold by a company
turnover
during a particular period of time
workforce
q. the person in a company who has the most power and
authority and is responsible for managing its daily
affairs under the authority of the board of directors
1. _____ 2. _____ 3. _____ 4. _____ 5. _____ 6. _____ 7. _____ 8. _____

1. chief executive officer


2.
3.
4.
5.
6.
7.
8.

9.
10.
11.
12.
13.
14.
15.
16.

9. _____ 10. _____ 11. _____ 12. _____ 13. _____ 14. _____ 15. _____ 16. _____

89

EXERCISE 2.
Fill in the blanks with missing letters (vowels and consonants).
1. She started her career as a s___ ___ ___ ___ r___ ___ and is now a sales manager.
2. He was appointed c___ ___ ___ ___ e___ ___ ___ ___ ___ ___ ___ ___
o___ ___ ___ ___ ___ ___ at the age of 35.
3. The Abbotsford Solar Systems plant has been closed and more than 100 workers have
been made r___ ___ ___ ___ ___ ___ ___ ___ .
4. We f___ ___ ___ ___ him for dishonesty.
5. The company is l___ ___ ___ ___ ___ on the Johannesburg Stock Exchange.
6. We are trying to make our c___ ___ ___ ___ ___ ___ ___ ___
c___ ___ ___ ___ ___ ___ more international.
7. The firm has an annual t___ ___ ___ ___ ___ ___ ___ of $75 million.
8. There have been d___ ___ ___ ___ ___ in the launch of the new service so it will be
launched on the market later than planned..
9. She was d___ ___ ___ ___ ___ ___ ___ ___ for misuse of company property.
10. The company has l___ ___ ___ o___ ___ 200 of its employees.
11. Big companies are d___ ___ ___ ___ ___ ___ ing and increasing their temporary
workforce.
12. Local companies have provided 2 million in
s___ ___ ___ ___ ___ ___ ___ ___ ___ ___ for the scholarships.
13. Restructuring and d___ ___ ___ ___ ___ ___ ___ ___ ___ have meant redundancies
for many experienced people.
14. Our business has e___ ___ ___ ___ ___ ___ ___ rapidly, from 16 to 30 stores in a year.
15. They have a contract to m___ ___ ___ ___ ___ ___ ___ ___ ___ ___ one million TV
sets.
16. P___ ___ ___ ___ ___ from exports rose 7.3%.
17. They have changed from a sales-oriented to a c___ ___ ___ ___ ___ ___ ___ - f___ ___ ___ ___ ___ ___ business.
18. The retailer will issue 24 million new s___ ___ ___ ___ ___ worth 3 billion.
19. We are in c___ ___ ___ ___ ___ ___ ___ ___ ___ ___ with four other companies for
the contract.
20. The group plans to cut over 100 jobs, about 1% of its total
w___ ___ ___ ___ ___ ___ ___ ___ .
90

EXERCISE 3.
What do the following abbreviations stand for?
1. CEO ________________________________________________________________
2. SME _________________________________________________________________
3. ROI _________________________________________________________________
4. plc __________________________________________________________________
5. Ltd. _________________________________________________________________
6. Corp. ________________________________________________________________
7. Co. __________________________________________________________________
8. Inc. __________________________________________________________________
9. LLC _________________________________________________________________
EXERCISE 4.
Fill in the gaps with a suitable word.
An ______________________is the manufacturing of a good or service within a category.
There

are

three

key

industrial

economic

______________________:

the

______________________sector, largely raw material extraction industries such as mining and


farming; the ______________________sector, involving ______________________, and
______________________;

the

______________________sector,

which

______________________with services (such as law and medicine) and distribution of


manufactured goods.
EXERCISE 5.
How do you call?
1. a type of business entity that is owned by a group of professional people who work
together and share the profits or losses of the business undertaking in which all have
invested _______________________________________
2. a business that does not have a large number of employees or sell a large amount of
goods and services, and is often run by a family
____________________________________
3. a company whose shares may not be bought and sold by the public
_______________________________________
4. a business that is owned and run by one person, i.e. in which the owner has no partners
_______________________________________

91

5. a partnership in which some or all partners (depending on the jurisdiction) have limited
liability_______________________________________
6. a type of partnership where the members liability is unlimited
_______________________________________
7. a company which is not permitted to offer its shares to the public
_______________________________________
8. larger businesses where shares are intended to be available to the general public
_______________________________________
9. a legal entity created by a government to undertake commercial or business activities on
behalf of an owner government _______________________________________
10. business organization selling goods or services, especially one that has been officially
created (registered) in a particular country and is owned by shareholders
_______________________________________
11. a person who works for himself/herself instead of an employer (is not employed by a
company), and draws income from a trade or business that they operate personally.
_______________________________________
12. a company whose shares can be bought and sold on the stock market
_______________________________________
EXERCISE 6.
Match the industry sectors to the products or services.
1. Pharmaceuticals

a. bridges

2. Transport

b. supermarkets

3. Engineering

c. software packages

4. Financial

d. credit cards

5. Retailing

e. lorries

6. IT

f. newspapers

7. Media

g. plastics

8. Vehicle manufacturing

h. airlines

9. Food and drink

i.

malaria drugs

10. Chemicals

j.

fruit juices

1. _____ 2. _____ 3. _____ 4. _____ 5. _____ 6. _____ 7. _____ 8. _____ 9. _____ 10. _____

92

EXERCISE 7.
Complete the extract from a company report. Choose the correct option.
I am sorry to have to report that the financial ____ (1) of our company has been rather
disappointing this year. ____ (2) was $55 million, a ____ (3) of eight percent on last year, and
____ (4) went down by 10 percent to $2.7 million.
Our industry sector is highly competitive. Our market ____ (5) has decreased from 31 percent to
22 percent. As a result, the companys share ____ (6) has gone ____ (7) and is now at an all-time
low of $ 1.05.
Falling production and weak demand have had a negative effect on our cash ____ (8), so we are
no longer able to ____ (9) the Alpha projet which started last September.
These are not easy times, and I would like to thank our dedicated ____ (10) for their efforts in
the last year. I would also like to ask them not to be pessimistic, as the year ahead shows signals
of being less difficult.
1. a) money

b) performance

c) competition

2. a) turnover

b) stock

c) supply

3. a) rise

b) decrease

c) increase

4. a) profit

b) benefit

c) stock

5. a) portion

b) percentage

c) share

6. a) money

b) price

c) payment

7. a) down

b) up

c) aside

8. a) cheque

b) finance

c) flow

9. a) credit

b) finance

c) pay

10. a) employers

b) subsidiary

c) workforce

EXERCISE 8.
Complete the text with either the present simple or the present continuous form of the
verbs in brackets.
Carlucci Fashions futuristic flagship store ______________________________ (stand)
in Hong Kongs exclusive Central District. Adriano Carlucci, founder and CEO of the Carlucci
luxury brand, ______________________________ (want) to make Carlucci Fashion a worldclass company. When Adriano ______________________________ (arrive) at his office every
morning, he ______________________________ (go through) his schedule with his personal
assistant. This month, he ______________________________ (travel) around Europe, where
______________________________ (visit) some of the main fashion capitals: Zurich, Paris,
London, and, of course, his native Milan. Today, he _____________________________ (meet)
a team of desicngers from all over the world. Adriano _________________________ (love)
Asia. Some of his most successful designs ______________________________ (combine) the
best Asian and European influences. Carlucci fashion was founded in 1995 and
93

______________________________ (expand) faster than ever before. Sales increased by 15


percent two years ago, and by over 25 percent last year.

EXERCISE 9.
Answer the following questions.

1. What are the key industrial economic sectors?


2. What types of business according to size do you know?
3. What is a multinational corporation; an SME. . .? Who is a freelancer?
4. What is a publicly quoted company?
5. What types of business entity (according to the legal structure) do you know?
6. What is the difference between a government-owned corporation and a private company?
7. What makes a respected company?

94

UNIT 4: GREAT IDEAS

Quotes about ideas

The best way to have a good idea is to have a lot of ideas.


Linus Pauling (1901 1994) American chemist, peace activist, author, and
educator.

The best ideas come as jokes. Make your thinking as funny as possible.
David M. Ogilvy ( 1911 1999), a notable advertising executive.

Great ideas often receive violent opposition from mediocre minds.


If at first the idea is not absurd, then there is no hope for it.
Albert Einstein (1879-1955, German born Physicist; Nobel Prize for Physics in
1921.)

Every really new idea looks crazy at first.


Alfred North Whitehead (1861 1947) British philosopher and mathematician
NEW IDEAS

Resistance to new ideas is well known. In organizations, the best way of killing an idea may well
be to take it to a meeting. The very thing that makes companies successful in one area may
prevent them from developing success in new activities. Early work on personal computers at
Xerox was dismissed by its senior managers because they considered that the companys business
was copying, not computing.

95

How do you develop innovation and creativity in large, bureaucratic companies? Company
leaders talk about corporate venturing and intrapreneurship, where employees are encouraged
to develop entrepreneurial activities within the organisation. Companies may set up "skunk
works," outside the usual structure, to work on innovations. Development of the PC at IBM is
the most famous example of this.
Corporate venturing is the practice where a large firm takes an equity stake in (or enters into a
joint venture arrangement with) a small but innovative or specialist firm, to which it may also
provide management and marketing expertise. The objective is to gain a specific competitive
advantage. Intrapreneurship means that employees are encouraged to develop entrepreneurial
activities within the organization. Intrapreneur is an employee in a large company who develops
new products or services, starts subsidiary businesses, etc. for the company rather than leaving to
form their own company: (Remember the word: entrepreneur = a person who makes money by
starting or running businesses, especially when this involves taking financial risks)
Companies may try to set up structures in such a way that they do not stifle new ideas. They may
put groups of talented people together in skunk works to work on innovations development
of the PC at IBM is the most famous example. Skunk works are outside the usual company
structures and are less likely to be hampered by bureaucracy, in-fighting and so on. They are a
part of a company that has the freedom to develop new products without being closely
controlled by the company.
A skunkworks project is one typically developed by a small and loosely structured group of
people who research and develop a project primarily for the sake of innovation. The term
typically refers to technology projects. A skunkworks project often operates with a high degree of
autonomy and unhampered by bureaucracy, tasked with working on advanced or secret projects.
These projects are often undertaken in secret with the understanding that if the development is
successful then the product will be designed later according to the usual process.
When innovators go to large companies with new
designs for their products, they face similar problems.
The inventor of the small-wheel Moulton bicycle
could not persuade Raleigh to produce it, so he set up
his own company.
Moulton bicycle
96

GREAT IDEAS - EXAMPLES

eBay Inc. is an American Internet company that


manages eBay.com, an online auction and shopping
website in which people and businesses buy and sell
goods and services worldwide. In addition to its
original U.S. website, eBay has established localized
websites in thirty other countries. eBay Inc. also
owns PayPal, Skype, and other businesses.
THE MILLION DOLLAR HOMEPAGE is a website
conceived by Alex Tew, a 21-year-old student from
Cricklade, Wiltshire, England to help raise money
for his university education. The index page of the
site consists of a 1000 x 1000 pixel grid (one million
pixels), on which he sells image-based links for US
$1 per pixel, in minimum ten by ten blocks. The
aim of the site was to sell all of the pixels in the
image, thus generating one million dollars of
The Million Dollar Homepage
(as of February 12, 2007)

income for the creator, which seems to have been


accomplished.
AMAZON.COM, Inc. is an American e-commerce
company based in Seattle, Washington. It was one
of the first major companies to sell goods over the
Internet and was one of the iconic stocks of the
late 1990s dot-com bubble. Founded by Jeff
Bezos

in

1994,

and

launched

in

1995,

Amazon.com began as an online bookstore,


though it soon diversified its product lines, adding VHSs, DVDs, music CDs, MP3s, computer
software, video games, electronics, apparel, furniture, food, toys, and more. Amazon has
established separate websites in Canada, the United Kingdom, Germany, Austria, France, China,
and Japan. It ships globally on selected products. The company began operating as an online
bookstore. While the largest brick-and-mortar bookstores and mail-order catalogs for books
97

might offer 200,000 titles, an online bookstore could offer many times more. Bezos renamed his
company "Amazon" after the world's most voluminous river. Amazon's initial business plan was
unusual: the company did not expect to turn a profit for four to five years. In retrospect, the
strategy was effective. Amazon grew at a steady pace in the late 1990s while many other Internet
companies grew at a blindingly fast pace. Amazon's "slow" growth caused a number of its
stockholders to complain, saying that the company was not reaching profitability fast enough.
When the Dot-com bubble burst and many e-companies went out of business, Amazon
persevered and finally turned its first profit in the fourth quarter of 2002: a meager US$5 million,
just 1 per share, on revenues of over US$1 billion, but it was important symbolically. The firm
has since remained profitable.
WIKIPEDIA

is

free,

multilingual

encyclopedia project supported by the nonprofit Wikimedia Foundation. Its name is a


portmanteau
technology

of
for

the

words

creating

wiki

(a

collaborative

websites) and encyclopedia. Wikipedia's 10


million

articles

have

been

written

collaboratively by volunteers around the


world, and almost all of its articles can be
edited by anyone who can access the
Wikipedia website. Launched in 2001 by
Jimmy Wales and Larry Sanger, it is
currently the largest and most popular
general reference work on the Internet. Wikipedia began as a complementary project for
Nupedia, a free online English-language encyclopedia project whose articles were written by
experts and reviewed under a formal process.

98

INNOVATION & INVENTION


Innovation is a new way of doing something or "new stuff that is made useful". The goal of
innovation is positive change, to make someone or something better. Innovation leading to
increased productivity is the fundamental source of increasing wealth in an economy. Innovation
is an important topic in the study of economics, business, design, technology, sociology, and
engineering.
An invention is a new composition, device, or process. Some inventions are based on preexisting models or ideas and others are radical breakthroughs. Inventions can extend the
boundaries of human knowledge or experience. An invention that is novel and not obvious to
those who are skilled in the same field may be able to obtain the legal protection of a patent.
The Walkman, for example, was invented by Sonys chairman who wanted to be able to play golf
and listen to music at the same time. Innovation is the process which allowed Sony to massproduc the Walkman and make it a huge commercial success.
Innovation has become a critical factor for commerical success. Businesses can innovate in a
number of different ways: by launching products with new features, by providing improvements
to existing services, by introducing more effective business practices and by finding new markets
and sources of supply. Launching an innovation involves a degree of risk but, if successful, an
entrepreneur can produce better returns as margins will be high especially when competitors
products become obsolete as a result.
But a single innovative breakthrough is not enough. There has to be continuous improvement
and market response. The current winners in bicycle innovation e.g. are producers of mountain
bikes, who have taken the original bicycle design and eliminated its irritations, revolutionizing an
old concept by providing relative comfort, easy gear changes, a fun ride and so on.
Traditionally, a company's new ideas and products come from its research and development
(R&D) department. The initial idea for a car will be turned into a series of prototypes and tested.
In software development, the final prototype is the beta version, which is beta-tested.
Pharmaceuticals go through a series of trials. Even the most brilliant entrepreneurs will not have
the resources to go it alone in industries like these, as the investment and experience required are
enormous.
Cars, software, and pharmaceuticals are examples of industries dominated by giants. The rules of
the game are well established, and newcomers are rare, unless they can find a small niche
99

unexploited by the giants. There may be more opportunity for innovation where the rules of the
game are not yet established. This may involve selling and delivering existing products in new
ways: think, for example, of selling books and airline tickets on the Internet.
One thing is certain: business will continue to benefit from the creativity of individuals and
organizations who can develop great ideas and bring them to market.
Many scientists, inventors and entrepreneurs have a
number of ideas before coming up with the Big One. But
some inventors are famous for not bringing their ideas to
fruition. Leonardo da Vinci is often cited in this context he draw tantalizing pictures of parachutes and helicopters
but did not develop them. It could be argued that the
technology, materials, etc. for parachutes existed in his
day, and he could be accused of not developing their
potential - perhaps he was just interested in this part of
the process. However, the technology for helicopters
certainly did not exist, and he cannot really be blamed for not making one.
Talking about an idea whose time has come, either in relation to an idea that depends on a
particular technology taking off (literally o metaphorically), or one that must wait for the right
social and economic conditions to emerge. For example, the growth of supermarket chains
depended on almost everyone who uses them having a car.
PATENTS AND INTELLECTUAL PROPERTY
Information or knowledge that belongs to an individual or company is proprietary. A product
developed using such information may be protected in law by patents so that others cannot
copy its design. Other companies may pay to use the design under licence in their own
products. These payments are royalties.
In publishing, if a text, picture, etc. is copyright, it cannot be used by others without permission.
Payments to the author from the publisher are royalties. The area of law relating to patents and
copyright is intellectual property.
BrE: a licence to license / AmE: a license to license
100

COPYRIGHT

is the right to be the only person who may publish, broadcast, make copies of, etc.

an original piece of work, such as a book, film/movie or computer program and give other
people permission to use it or any part of it. If you produce an original piece of work such as a
book or computer program, you own the copyright on it. This gives you the right to stop other
people from copying the work without permission. The right is created automatically-you do not
need to apply to the authorities. The symbol is used to remind people that the work is
copyright. It is not a legal requirement.
PATENT is a legal right to be the only person to make, use or sell a product or an invention and a
document that proves this. If you design a new product, device or method, for example a new
medicine, you can apply for a patent. The patent gives you a limited period of time, usually 20
years, in which to sell the invention without other people copying it.
TRADEMARK is a name, symbol or design that a company uses for its products and that cannot
be used by anyone else. If you have a unique name or symbol that you use for your products, you
can apply to register it as a trademark. Once a trademark has been registered, other people
cannot use it in connection with similar products. The and symbols are used to show that a
trademark is protected. Registered trademark is the sign or name of a product, etc. that is
officially recorded and protected so that nobody else can use it, shown by the symbol
ROYALTY

(usually plural royalties) is an amount of money that is paid for the right to use the

property of another person, such as the owner of a copyright or patent. A particular amount is
paid each time their book, product, etc. is sold or their work performed.

101

LANGUAGE REVIEW
PAST SIMPLE & PAST CONTINUOUS
PAST SIMPLE is used:

to talk about completed actions that happened in the past.


o Alexander Graham Bell invented the telephone.
o A: Did you read the contract?
B: Yes, and I sent it back to the legal department.
o Last year we spent a lot on advertising and so attracted lots of new customers.

to refer to a definite moment or period in the past.


o He left for Australia yesterday.
o Ted Turner launched CNN in 1980.
o Did you discuss the problem at last weeks meeting?

In reports, e.g. a companys annual report


o Last year was a tough year four our group. On the one hand, we earned more than a
billion dollars, we generated record cash flow. On the other hand, our total earnings

declined and our US production facilities underperformed .

The action can be short, long or repeated.


o They took a taxi to get here.
o The flight lasted 10 hours.
o I took the same train every day.

PAST SIMPLE - SPELLING

try tried

study studied

copy copied stop stopped

plan planned

PAST SIMPLE is used:

to talk about actions that were not yet finished and continued over a period of time
o At that time, we were still trying to solve our recruitment problem.

to refer to situations that were changing over time in the past.


o During the 1980s many of the older industries were closing down .
o At that time we were coming out of recession and the things were improving.

For an action that listened for a while in the past, which was interrupted by another
action (this 2nd action is in the past simple)
102

o I was just leaving the office when he arrived.


o We were talking about safety procedures when the fire alarm went off.
o She had an accident while she was driving to work.

for repeated actions (in the past)


o He was visiting clients all last week and didnt come into the office. (a number of
different clients)
o Last month we were having problems with the production line. (a number of different
problems)

but not for the same action which is repeated, or for habitual past actions.
o The production line stopped five times yesterday. (NOT *was stopping)
o When I was at business school we often worked on case studies. (NOT*were working
on)

Dont use the past continuous with verbs that describe opinions and thoughts.
o What did you think of her proposal? (NOT* were you thinking)
o What exactly did she mean? (NOT *was she meaning)
o He didnt know that I knew what he was doing. (NOT* wasnt/was knowing)

More about PAST SIMPLE & PAST CONTINUOUS: SB, page 121
103

UNIT 4: NEW IDEAS

- GLOSSARY

__

BETA TEST, noun [C] (also beta, informal)


the second or final test of a product, especially a new piece of computer software, by a few customers
before the final version is sold to or used by the public
Beta tests are scheduled to start in May.
Are you interested in participating in beta tests?
BRAINSTORMING, noun [U]
a way of solving problems or creating good ideas in which a group of people think about
time and then discuss all the suggestions
No idea is ruled out during the period of the brainstorming.
Members had a brainstorming session to identify the causes of the problem.

sth at the same

BREAKTHROUGH, noun [C]


an important discovery or development
Intel has achieved a major breakthrough in chip design.
a significant breakthrough in the negotiations
a breakthrough discovery in the treatment of cancer
to achieve/make a breakthrough
a big/historic/major/significant breakthrough
a scientific/technological breakthrough
COMMERCIAL, noun
1 an advertisement on television or on the radio
TV/radio commercials
a commercial break (= a time during or between programs when advertisements are shown)
CONSUMER DEMAND, noun [U,C]
the desire or need of customers for particular goods or services
Orders for motor vehicles rose 5%, aided by strong consumer demand.
consumer demand for housing/flights/organic food
Consumer demand is the driving force behind the flow of goods and services in the economy.
to satisfy consumer demand
CONTINUOUS IMPROVEMENT, noun [U]
the process of continuing to make a company, its products or services better by making frequent small
changes to deal with problems rather than fewer very large changes
CORPORATE VENTURING, noun [U]
the activity of a larger company investing in a smaller business in order to develop new products, markets,
etc. as well as get a share of the profits:
Corporate venturing can bring strategic advantages to a firm.
The new tax benefits are designed to encourage corporate venturing.
CUTTING EDGE, noun [sing.]
1 the cutting edge (of sth)
the newest, most advanced stage in the development of sth
They are at the cutting edge of scientific research.
operating on the cutting edge of technology cutting-edge designs
SYN LEADING EDGE

104

DEALERSHIP, noun
(Commerce ) a business that sells products, especially cars, for a particular company; the position of being
a dealer who can buy and sell sth
a car/an auto/a Mercedes dealership
Small dealerships are protected by being guaranteed the same wholesale price no matter how many cars they sell.
About 70 dealerships have been set up worldwide.
ENTRANCE FEE, noun [C]
an amount of money that you pay in order to be allowed into a cinema, theatre, etc.
ENTREPRENEUR, noun
a person who makes money by starting or running businesses, especially when this involves taking
financial risks
a dotcom/fashion/high-tech/an Internet/a media entrepreneur
Entrepreneurial, adjective:
entrepreneurial skills/flair
Entrepreneurship, noun [U]
fostering entrepreneurship in inner cities
FEATURE, noun
1 [C] a typical quality or an important part of something
The town's main features are its beautiful mosque and ancient marketplace.
Our latest model of phone has several new features.
A unique feature of these rock shelters was that they were dry.
What are the key features of this new product?
GAP, noun
an area of business in which few or no companies operate but where profits could be made
We saw a gap in the market for low-cost pensions.
They aim to fill the gap left by the
large manufacturers that moved overseas.
NICHE
to fill/identify/leave/see a gap
HIGH-TECH (also spelled hi-tech), adjective
1 using the most modern methods, machines or devices, especially electronic ones
high-tech equipment/systems
We have seen increased sales of high-tech products such as digital cameras and DVD players.
INNOVATION, noun
[U] the introduction or development of new things, ideas or ways of doing sth
They have been the leaders in product innovation.
scientific and technological innovation
[C] a new idea, way of doing sth, etc:
recent innovations in steel-making technology
INTRAPRENEUR, noun
an employee in a large company who develops new products or services, starts subsidiary businesses, etc.
for the company rather than leaving to form their own company
We want to transform everyone into intrapreneurs.
intrapreneurial, adjective
intrapreneurship, noun [u]

105

INVENTION, noun
1 [C] a thing or an idea that has been invented
What was Henry Fords greatest invention?
The best inventions are the simplest and most obvious.
Inventions should be patented.
KAIZEN, noun [U]
the practice of continuously improving the way in which a company operates
Companies that adopt kaizen can boost their productivity by as much as 30%.
Kaizen involves step-by-step improvement in every manufacturing activity.
MARKET, noun
[C] a particular area, country or section of the population that might buy goods or services
to enter/find/open up/operate in/penetrate a market
to break into/go into/move into a market
the domestic/home/international/local market a
developed/developing/growing/mature market
an important/a key/large/main market
MARKET, noun [C]
a demand for a product; the number of people, businesses, etc. who buy it or want to buy it
to build/create a market
a big/good/large/poor/small market (for sth)
an expanding /a growing/shrinking market
the annual/ domestic/ global/ world/worldwide market for sth
MEETING, noun
an occasion when people come together to discuss or decide sth
to arrange/call/have/hold/set up/organize a meeting
to cancel/delay/put off/postpone a meeting
to reschedule/schedule a meeting
to take part in/attend a meeting
to chair/conduct/run a meeting
an emergency /a private/public/special/team meeting
NEED, noun [C, usually pl.]
the things that sb requires in order to live in a comfortable way or achieve what they want
to analyze/ assess/ determine/ identify/understand sbs needs
to address/fit/meet/serve/suit sbs needs
NICHE, /ni'/ /nt/, noun [C]
an opportunity to sell a particular type of product or service for which there is limited demand, but little
or no competition
They spotted a niche in the ice cream market for a high-quality, luxury product.
To grow, the company needs to expand beyond its niche products.
a small niche company
Our books sell to niche audiences rather than to a mass market.
to create/look for/find/exploit/expand a niche
OBSOLETE, adjective
no longer useful because sth new and better has been invented
obsolete technology
Job skills can quickly become obsolete.

106

OPPORTUNITY, noun [C, U] (plural opportunities)


a time when a particular situation makes it possible for you to do sth or achieve sth
PATENT, noun [C,U]
a legal right to be the only person to make, use or sell a product or an invention; a document that proves
this
Edison took out a patent on the light bulb.
Patents on some of their drugs will expire next year.
The device was protected by patent.
They have decided to take the company to court for patent infringement (= producing a product that copies
part of a product which has a patent).
PRODUCT RANGE, noun [C]
a set of products of a particular type that are made or sold by a company
We have to extend our product range.
to broaden/expand/increase/widen the product range
PROPRIETARY, adjective [usually before noun]
1 (about goods) made and sold by a particular company and protected by a registered trademark:
3 relating to an owner or to the fact of owning sth
The company claims proprietary rights over the unique design.
PROTOTYPE, noun [C]
the first design of sth from which other forms are developed
They designed and built a working prototype and then ran a series of tests.
the prototype of a new online service a prototype for a new type of protective helmet
To build/design/develop/test a prototype
SKUNKWORKS (also skunk works), noun [C with sing./pl. verb] (plural skunkworks)
a part of a company that has the freedom to develop new products without being closely controlled by the
company
STATE OF THE ART, adjective
using the most modern techniques or methods; as good as it can be at the present time
This computer is nothing special now, but five years ago it was state of the art.
state-of-the-art equipment/technology
TARGET, verb [+ obj] (targeting, targeted, targeted)
1 target sb/sth | target sth at/to sb/sth (often be targeted at sb/sth)
to try to have an effect on a particular group of people or a particular area
Their campaigns specifically target young people.
a carefully targeted marketing campaign
magazines targeted at teens
Targeted market research has become an indispensable tool for business.
The computer is targeted to fashion conscious buyers.
SYN AIM
TARGET MARKET, noun [C, usually sing.] (also target buyers, target customers [pl.])
(Marketing ) the group of people that you want to sell your products to
Our target market for this drink is teenagers.
We need to identify the target market.
After defining your target market, consider the key trends and competitors.
We used sports marketing as a way of reaching our target customers.

107

UP TO DATE, adjective
1 having or including the most recent information
Monthly meetings keep staff up to date on/with the latest developments.
up-to-date records
2 modern; fashionable:
This technology is bang up to date (= completely modern).
up-to-date equipment/methods/technology

108

___________________EXERCISES FOR SELF-STUDY/ REVISION ______________________


EXERCISE 1.
Fill in the gaps with missing words
PATENTS AND INTELLECTUAL PROPERTY
Information

or

knowledge

that

belongs

to

an

individual

or

company

is

p_____________________. A product developed using such information may be


p_____________________ in law by p_____________________ so that others cannot copy
its design. Other companies may pay to use the design under l_____________________ in their
own products. These payments are r_____________________.
In publishing, if a text, picture, etc. is c_____________________, it cannot be used by others
without

permission.

The

area

of

law

relating

to

patents

and

copyright

is

i_____________________ property.
EXERCISE 2.
Fill in the gaps with words from the box. You have more words than you need.
breakthroughs
center
cutting
development
developing
discoveries
discover
down-to-date
for
hi-tech
knowledge
knowing
laboratories
leading
obese
obsolete
of
product development
product developing
research
researches state-of-the-art
up-to-date
with
RESEARCH AND TECHNOLOGY
''Hi, I'm Ray and I'm head of product development at Lightning Technologies. Lightning makes
semiconductors, the components at the heart of every computer. I'm in charge
_____________________ the _____________________ and _____________________
(R&D) at our _____________________ centre just outside Boston. Our
_____________________ are some of the most innovative in the computer industry, and we
have made many new _____________________ and _____________________.
I love technology, using scientific _____________________ for practical purposes. The
technology of semiconductors is fascinating. We are at the _____________________ edge or
_____________________ edge of semiconductor technology: none of our competitors has
better products than us. Everything we do is_____________________, using the most advanced
techniques available.
Of course, the _____________________ products of today become the low-tech products of
tomorrow. Products that are no longer _____________________
because they use old
technology are _____________________ . It's my job to make sure that Lightning's products
never get into that situation.''

109

EXERCISE 3.
Match the items on the right to the items on the left.
1. niche
2. continuous
improvement
3. brainstorming
4. product range
5. up to date
6. consumer
demand
7. prototype
8. state of the
art
9. entrepreneur
10. high-tech
11. intrapreneur
12. obsolete
13. breakthrough
14. patent
15. proprietary
16. beta test
17. corporate
venturing
18. skunkworks
19. kaizen
20. target market

a. the group of people that you want to sell your products to


b. made and sold by a particular company and protected by a registered
trademark
c. a way of solving problems or creating good ideas in which a group of
people think about sth at the same time and then discuss all the
suggestions
d. an important discovery or development
e. using the most modern techniques or methods
f. the desire or need of customers for particular goods or services
g. a part of a company that has the freedom to develop new products
without being closely controlled by the company
h. the activity of a larger company investing in a smaller business in order
to develop new products, markets, etc. as well as get a share of the
profits
i. using the most modern methods, machines or devices, especially
electronic ones
j. the first design of sth from which other forms are developed
k. the practice of continuously improving the way in which a company
operates
l. an opportunity to sell a particular type of product or service for which
there is limited demand, but little or no competition
m. no longer useful because sth new and better has been invented
n. a legal right to be the only person to make, use or sell a product or an
invention; a document that proves this
o. a set of products of a particular type that are made or sold by a
company
p. the second or final test of a product, especially a new piece of computer
software, by a few customers before the final version is sold to or used
by the public
q. a person who makes money by starting or running businesses, especially
when this involves taking financial risks
r. the process of continuing to make a company, its products or services
better by making frequent small changes to deal with problems rather
than fewer very large changes
s. an employee in a large company who develops new products or services,
starts subsidiary businesses, etc. for the company rather than leaving to
form their own company
t. having or including the most recent information

1 ______2 ______3 ______4 ______5 ______6 ______7 ______8 ______ 9 ______


10 ______ 11 ______12 ______13 ______14 ______15 ______16 ________ 17 ________
18 ________ 19 ________ 20 ________

110

EXERCISE 4.
Fill in the blanks with missing letters (vowels and consonants).
1. We have seen increased sales of h____ ____ ____ -t____ ____ ____ products such
as digital cameras and DVD players.
2. They designed and built a working p____ ____ ____ ____ t____ pe and then ran a
series of tests.
3. We have to extend our p____ o____ ____ ____ t r____ ____ ____ e.
4. Members had a br____i____ ____t____r____ ____n____ session to identify the causes
of the problem.
5. Intel has achieved a major br____a____ ____ ____r____ ____gh in chip design.
6. This computer is nothing special now, but five years ago it was s____ ____ ____ ____
o____ t____ ____

a____ ____.

7. Monthly meetings keep staff u____ t____ d____ ____ ____ with the latest
developments.
8. The company claims pr____ p____ ____ ____ t____ r____ r____ g____ t____ over
the unique design.
9. They are at the c____ ____t____ ng e____ ____ ____ of scientific research.
10. We saw a g____ ____ in the market for low-cost pensions.
11. Companies that adopt k____ ____ z____ ____ can boost their productivity by as
much as 30%.
12. Job skills can quickly become ob____ ____ l____ ____ e.
13. The device was protected by pa____ ____ n____.
14. B____t____ t____ ____ ____s are scheduled to start in May.
15. C____ ____ ____ ____ r____t____ v____n____u____ ____ ____g can bring strategic
advantages to a firm.
16. Small de____ ____ ____r____ ____i____s are protected by being guaranteed the same
wholesale price no matter how many cars they sell.
17. They spotted a n____ c____ ____ in the ice cream market for a high-quality, luxury
product.
18. Our t____ ____ g____ t m____ r____ ____ t for this drink is teenagers.
19. Orders for motor vehicles rose 5%, aided by strong c____n____ ____m____ ____
d____ ____ ____ ____d.

111

EXERCISE5.
Can you find the hidden words?

beta test

corporate

obsolete

target market

brainstorming

venturing

patent

up to date

breakthrough

entrepreneur

product range

continuous

high-tech

proprietary

improvement

intrapreneur

prototype

consumer demand

kaizen

skunkworks

niche

state of the art


112

EXERCISE 6.
The words have been jumbled. What are they?

EXERCISE 7.
Complete with past simple or past continuous
A)
1. Tim wasn't at the office today. He ____________________(work) from home.
2. The report was useless. We ____________________(not learn) anything new.
3. I

____________________(start)

work

at

9:30

today.

As

usual,

____________________(check) my e-mail and ____________________(listen) to my


voicemail. After that I ____________________(finish) my monthly report.
4. We ____________________(meet) some oft he Fabtek people at the conference. It was
so funny, they ____________________(wear) those color-changing T-shirts.
5. We ____________________(have) a meeting when the news that we'd won the award
____________________(come).
6. We

____________________(develop)

this

product

three

months

ago.

We

____________________(do) some research in or Munich laboratories at the time.


7. The traffic was terrible this morning, so I was late for the meeting. Everbody
____________________(wait) for me when I ____________________(arrive).
113

B)
Anita Roddick, founder of the Body Shop , ____________________(learn) customs and rituals
from many different countries while she ____________________(travel) around the world. In
1971, she __________________(marry) Gordon Roddick. They ____________________(have)
a small business in Brighton, but after a few years they ____________________(decide) they
____________________(want) a different way of life.
While

her

husband

____________________(travel)

int

he

US

in

1976,

Anita

____________________(open) the first Body Shop, selling natural cosmetics. She


____________________(always / think) about ways to develop environment-friendly products
and packages. That's why many environment-conscious people ____________________(like)
her ideas and were interested in starting their own branch oft he Body Shop.

EXERCISE 7.
Answer the following questions.

1. When we talk about business ideas, is a single innovative breakthrough enough?


2. Discuss why e-bay, amazon.com, www.milliondollarhomepage.com, wikipedia.org and
''ferrari attraction'' (cb pg36) are examples of a great business idea.
3. What do you think about the following statement ''research and development is the key to
great business ideas''?
4. How do you develop innovation and creativity in large, bureaucratic companies?
5. What is corporate venturing?
6. What is the difference between intrapreneur and entrepreneur?
7. What is a skunkworks project?
8. Is there a difference between innovation and invention? If yes, explain it.
9. Explain: copyright, patent, trademark, royalties.

114

READING TASK
1. Read the first part of the article below on Top 10 business ideas for 2009 and try to
guess what the idea actually is in each of the ten very brief descriptions.

THIS YEAR'S TOP 10 RETAIL IDEAS

One of the keys to developing a successful business is a good business idea. Springwise.com
regularly publishes new ideas from around the world in several categories (automotive,
eco&sustainability, education, entertainment, fashion&beauty, financial services, food&beverage,
homes&housing,

life

hacks,

lifestyl&leisure,

media&publishing,

retail,

tourism&travel,

transportation, etc). At the end of each year, they publish top 10 ideas for the yearsmart
concepts that will continue to provide entrepreneurs with plenty of opportunities. Look at the
following links to find out more about the top 10 retail ideas in 2008 and read in more detail
about 3 of them.
1.

Filippa K Swedish fashion brand launches its own secondhand store


http://www.springwise.com/retail/swedish_fashion_brand_launches/

2.

Gerbola Vin Wine selling & storytelling


http://www.springwise.com/retail/wine_selling_storytelling/

3.

Fashionology LA Retailer helps tweens make their own clothes


115

http://springwise.com/retail/retailer_helps_tweens_make_the/
4.

Chocri Custom-made chocolate bars


http://www.springwise.com/food_beverage/custommade_chocolate_bars/

5.

HOJO Health and wellness shop focuses on seniors


http://www.springwise.com/retail/health_and_wellness_shop_focus/

6.

Foodzie An Etsy for artisanal food


http://www.springwise.com/food_beverage/an_etsy_for_artisanal_food/

7.

Lush Lush brings back discontinued products on demand


http://www.springwise.com/retail/lush_brings_back_discontinued/

8.

Naked Wines Online farmers' market for small wine producers


http://www.springwise.com/retail/online_farmers_market_for_smal/

9.

BLANKbottle Winery lets customers set prices


http://www.springwise.com/food_beverage/winery_lets_customers_set_pric/

10.

Myfab Furniture shopping with the crowds


http://springwise.com/retail/furniture_shopping_with_the_cr/

2. Read the second part of the article texts to find the answers to the comprehension and
vocabulary questions.
a) Comprehension questions
1. What do the three business ideas have in common?
2. How does Myfab work?
3. How did BLANKbottle set the price for its latest white wine?
4. Can Chocri's busienss practice be applied to any other B2C?

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Furniture shopping with the crowds

Crowd clout has already wreaked havoc1 on industries far and wide, and now it appears
the home furnishings industry could be among the next to get transformed. French site
Myfab.com lets consumers collectively tell manufacturers which furniture items they want
produced and then purchase them direct at near-factory prices.
Each week Paris-based Myfab posts a catalogue of items that are available for voting,
inviting members of the site to indicate the ones they like best. Those that win the most votes
get put into production by one of Myfab's factory partners and become available for purchase
through the site. Whereas many major furniture brands carry prices up to 10 times what it costs
the factory to produce them, the site says, Myfab's prices can be as much as 70 percent lower
since no middleman is involved. Consumers who voted for an item during its pre-production
phase get an additional 10 percent off. All factory partners must adhere1 to the site's charter of
quality, and consumers are given a one-week trial period to decide if they're satisfied. Myfab
ships to France, Germany, Switzerland, Holland and the UK. Delivery takes 9 weeks on average,
and consumers can follow an item's progress online each step of the way. In addition to
furniture, Myfab also offers products in fashion, accessories, sports equipment and watches
using the same crowd-based voting model.
Website: www.myfab.com
b) Find the word or phrase from the text to complete these sentences.
1. C___ ___ ___ ___ c___ ___ ___ ___ is an online grouping of consumers for a specific
cause (political, civic or commercial) aimed at everything from bringing down politicians
to forcing suppliers to fork over discounts.
2. M ___ ___ ___ ___ ___ ___ ___ ___ is a person or company that buys goods or
services from a supplier and sells them to sb else
3. T___ ___ ___ ___ p___ ___ ___ ___ ___ is a period of time during which someone or
something is tested.
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Winery asks customers to set the prices

What works for alternative rock music, might also work for wine. You may remember
how Radiohead got the world's attention when it let listeners download its album In Rainbows,
asking them to pay whatever price they thought the music was worth. Sales of the album
reached USD 10 million. Since then others have tried the pay-what-you-like marketing
technique.
South African BLANKbottle has gone a step further. The boutique winemaker's
founder, Pieter Walser, sent 20 cases of its latest premium white wine Moment of Silence to loyal
customers on consignment, asking them to evaluate the wine and then pay him what they
thought it was worth. They paid up to ZAR 90 per bottle (USD 11.80 / EUR 7.50), and the
average price came to ZAR 50. Since BLANKbottle aims to exceed customers' quality vs. price
expectations, the wine went on sale to the public at a price of ZAR 40.
Walser, for his part, got a high return on the wine he risked in the venture. In addition to
the publicity he garnered, he determined a new product's price point based on the actual
purchasing decisions made by the winery's best customers. Feedback that's likely to be more
valuable than the opinions volunteered by focus groups or market research experts. And by
involving them in such a fundamental business decision, he no doubt increased brand loyalty
among the winery's core customer base. One to try out with your own best customers!
Website: www.blankbottle.co.za

c) Find the word or phrase from the text to complete these sentences.
4. If goods are o___ c___ ___ ___ ___ ___ ___ ___ ___ ___ ___, the person or company that
receives them will only pay for them after they have been sold.
5. V ___ ___ ___ ___ ___ ___ is a new activity, usually in business, which involves risk or
uncertainty.
6. P___ ___ ___ ___ p___ ___ ___ ___ is the retail price of a product, usually when viewed as
one of a series of possible competitive prices.
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Custom-made chocolate bars

While candy bars with personalized labels are a dime a dozen, a German startup offers a
tastier kind of customization, letting customers design their own chocolate.
The online ordering process at Chocri is similar to the customized muesli and coffee
concepts we've coveredboth of which also happen to be German.* After selecting either
white, milk or dark chocolate, customers pick the ingredients they'd like to add: fruit, nuts,
spices or bits of candy. Options range from the familiar (almonds, hazelnuts and raisins) to the
adventurous (cumin, gummi bears and gold dust), and up to five ingredients can be selected.
When they're done mixing and matching, customers pick a name for their very own 'meine
schokolade', which is printed on the label. They're also given a unique product code for easy
reordering. Prices range from EUR 2.506.50 for a 125 gram bar, depending on which
ingredients are added. Chocri uses fair trade, organic chocolate only.
Confectioners (and anyone else in B2C, for that matter) looking for extra business
should consider adding a made-to-order element to their products. Once consumers get used to
having it their way, there's no turning back ;-) There's an unmistakable opportunity here for a
smart web company, too: build a plug-and-play web solution for all those small businesses who
need an affordable way to add customization to their existing offerings.
d) Find the word or phrase from the text to complete these sentences.
7. S___ ___ ___ ___ ___ ___ is the early stage in the life cycle of an enterprise where the
entrepreneur moves from the idea stage to securing financing, laying down the basis structure of
the business, and initiating operations or trading.
8. F___ ___ ___ t___ ___ ___ ___ is a movement which strives for fair treatment for farmers.
In a fair trade agreement, farmers, who in other situations might be more susceptible to the will
of the purchaser, will negotiate with the purchasers in order to receive a fair price for their

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products. Farmers who engage in fair trade also aim to pay their workers a fair price, and engage
in environmentally-friendly practices.
3. Go back to the first part of the article and read more about the rest of the top 10 retail
ideas and answer these questions:
1. In your opinion, which of the ten ideas from the article will succeed?
2. What of these ideas could work well in Croatia?
3. Think about each of the ten ideas and suggest which Croatian companies could put each
of the ideas into practice?

120

UNIT 5: STRESS

WHAT IS STRESS?
Minutes are ticking by. You're stuck in traffic on the way to that vital meeting/exam or running
late catching bus for home. Your mind goes over the 101 things you have to do by the end of the
day but the traffic still isn't moving and you can't concentrate or think clearly.Your heart is
pounding, nerves jangling, temper rising. By tonight you know you will have a headache or
indigestion. Welcome to the stressful world!
A dictionary definition of stress would be a continuous feeling of worry that prevents you from
relaxing. We all know what it feels like when life's demands seem to get on top of us. Everyone
experiences stress, whether working in a demanding or repetitive job, looking after a home and
family, or juggling the two. Stress is a feature of modern life.
STRESS IN GENERAL

People like work that is rewarding and gives them satisfaction. For this, a reasonable amount
of pressure may be necessary: many employees want work that stretches them, to have the
feeling that it can sometimes be difficult, but that it is also stimulating and challenging. This is
necessary if one is to have pleasant feelings of achievement.
But when pressure builds up, it's easy to feel overwhelmed by work and this can produce
feelings of stress. It is possible to become stressed out through overwork or other problems.
People burn out, so stressed and tired that they may not be able to work again. The general
consensus is that most jobs have become more demanding, with longer hours and greater
pressures.

121

More and more people want to get away from what they call the rat race or the treadmill, the
feeling that work is too competitive, and are looking for lifestyles that are less stressful or
completely unstressful. They are looking for more relaxed ways of living and working, perhaps
in the country. Some people choose to work from home so as to be near their families. People
are looking for a better quality of life, a healthier work/life balance. Perhaps they are looking
for more quality time with their partners and children. Choosing to work in less stressful ways is
known as downshifting or rebalancing.
A whole stress industry has grown up, with its stress counselors and stress therapists giving
advice on how to avoid stress and on how to lessen its effects. However, other experts say that
stress levels today are lower than they used to be. They point to the difficult working conditions
and long hours of our great-grandparents. Perhaps the answer is that the material advantages of
modern times give us the illusion that we should have more control over our lives. Like lottery
winners who quickly become accustomed to the idea of being rich, we become "spoilt" by
material comforts and start to worry when we think we are losing even a little control over
events.
Whatever the truth, people love to talk about the stress of their work. This stress might even be
part of their job satisfaction.
STRESSFUL SITUATIONS

People can find different situations stressful; listed are some of them
o leading a formal meeting
o making a presentation
o having a job interview
o going to the dentist
o being stuck in a traffic jam
o giving a speech
o traveling by air
o negotiating an important contract
o meeting important visitors from abroad
o working to meet the deadlines
o dealing with a customer who has a complaint
o asking the boss for a pay rise.
In fact, all kinds of situations are more stressful when you have never found yourself in them
before. However, experience does not always solve the problem. Many people say that they
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always feel under stress when negotiating an important contract or meeting important visitors
from abroad, or even just when working to meet the deadlines. Other situations that employees
generally find difficult to cope with include dealing with a customer who has a complaint or
asking the boss for a pay rise.
However, it's not all bad news. A certain level
of pressure is good for us. The buzz of a new
challenge or the excitement of a new
relationship keeps life interesting. Too little
stress & life becomes dull. Stress can be useful.
For example, people perform badly in exams
when under too little stress, when under too
much stress but operate best with a medium

Stress performance connection

level of stress.
Too much stress over a long time damages: our health, work performance and relationships.
Some studies suggest stress can literally be a killer (the risk of having a heart attack or stroke).
Some of the typical causes of workplace stress are: too much or too little to do, boring or
repetitive work, role confusion, lack of control, lack of communication and consultation, lack of
support for individuals to develop their skills, inflexible work schedules, poor working
relationships with others, bullying, racial or sexual harassment and physical danger (such as risk
of violence) and poor working conditions (such as noise).

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WORK-LIFE BALANCE

Work-life balance is a broad concept


including proper prioritizing between
career and ambition on one hand,
compared

with

pleasure,

leisure,

family and spiritual development on


the other. As the separation between
work and home life has diminished,
this concept has become

more

relevant than ever before.


The expression was first used in the late 1970s to describe the balance between an individual's
work and personal life. The phrase may help to explain the unhealthy life choices that many
people were making (neglecting other important area of their lives such as family, friends, and
hobbies in favor of work-related chores and goals)
Over the past twenty-five years, there has been a substantial increase in work which is felt to be
due, in part, by information technology and by an intense, competitive work environment. Longterm loyalty and a "sense of corporate community" have been eroded by a performance culture
that expects more and more from their employees yet offers little security in return. Many experts
forecasted that technology would eliminate most household chores and provide people with
much more time to enjoy leisure activities; unfortunately, this has not happened.
In her recent book, "Willing Slaves How the Overwork Culture is Ruling our Lives", Madeleine
Bunting stated that from 1977 to 1997 Americans working full time have increased their average
working hours from 43.6 hours to 47.1 hours each week. (This does not include time required
to travel to and from their places of business).
Many Americans are experiencing burnout due to overwork and increased stress. This condition
is seen in nearly all occupations from blue collar workers to upper management. Over the past
decade, a rise in workplace violence, an increase in levels of absenteeism as well as rising workers
compensation claims are all evidence of an unhealthy work life balance. Employee assistance
professionals say there are many causes for this situation ranging from personal ambition and the
pressure of family obligations to the accelerating pace of technology.

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RAT RACE
A rat race is a term used for an
endless, self-defeating or pointless
pursuit. It conjures up the image of
the futile efforts of a lab rat trying
to escape whilst running around a
maze or in a wheel. In an analogy to
the modern city, many rats in a
single maze run around making a lot
of noise bumping into each other,
but

ultimately

achieve

nothing

(meaningful) either collectively or


individually. The rat race is a term often used to describe work, particularly excessive work; in
general terms, if one works too much, one is in the rat race. This terminology contains implications
that many people see work as a seemingly endless pursuit with little reward or purpose. Not all
workers feel like this. The increased image of work as a "rat race" in modern times has led many
to question their own attitudes to work and seek a better alternative; a more harmonious worklife balance. Many believe that long work hours, unpaid overtime, stressful jobs, time spent
commuting, less time for family life and/or friends life, has led to a generally unhappier
workforce/population unable to enjoy the benefits of increased economic prosperity and a
higher standard of living.
Escaping the rat race can have a number of different meanings:

A description of the movement, of either the Home or Work Location, of previously City
Dwellers or Workers to more rural locations

Retirement in general or no longer needing / having to work.

Moving from a high pressure job to a less intense role either at a different company or
within the same company at an alternative location or department.

Changing to a different job that does not involve working 9 to 6 and a long commute.

Working from home.

Becoming financially independent from an employer.

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LANGUAGE REVIEW
PAST SIMPLE & PRESENT PERFECT

PAST SIMPLE is used:


to talk about completed actions that happened in the past.
o She worked in Warsaw for five years.
o They worked over last weekend to meet the deadlines.
for completed actions that happened in the past.
o Capricorn opened its first store in 1984
Because the time reference is past, we use time expressions that refer to finished past
time.
o Last year we increased sales by 15%.
o She joined the company three months ago.
to talk about a definite finished time in the past. For example: when, yesterday, last
week, when I was at school, then, after etc.
o I finished university three years ago.
o Where did we first meet?
o I didn't study French at school

PRESENT PERFECT:
The present perfect connects the past and the present, e.g. She has worked in Warsaw for five
years. We use the Present Perfect to say that an action happened at an unspecified time before
now. The exact time is not important. You CANNOT use the Present Perfect with specific time
expressions such as: yesterday, one year ago, last week, when I was a child, when I lived in Japan,
at that moment, that day, one day, etc. We CAN use the Present Perfect with unspecific
expressions such as: ever, never, once, many times, several times, before, so far, already, yet, etc.

to talk about completed actions that happened in the past.


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o She worked in Warsaw for five years.


o They worked over last weekend to meet the deadlines.
PRESENT PERFECT is used:
to talk about past actions that affect us now.
o Our company has just introduced flexitime and everyones delighted.
o Genova has had to cut costs by reorganising the workforce.
for recent actions that have results in the present.
o Tom has had a bad car crash. = He's probably still in hospital
o I've washed the car. = It looks great
o I have lost my wallet. = I don't have it now.
o Jimmy has gone to South America. = He isn't here now.
o Have you finished your homework? = Is your homework ready?
to talk about actions that continue from the past to the present (to talk about an
action which started in the past and continuous up to now)
o We have been in this business for over 50 years (=we are still in business).
to talk about about life experiences.
o Ive worked with many companies where stress was a problem.
o Ive been to London on many occasions.
o Shes never had to lead a team before. (=in her life up to now)
It is important if we have done it in our lives or not. It is not important when we did it.
to announce news.
o The CEO has appointed a new management team
with for: with a period of time, for example: a few days, half an hour, two years.
o I have had this computer for about a year.
with since with the time when the action started, for example: last year, June 8, I met
you.
o We have been in this business for over 50 years (=we are still in business).
with since and for to say how long the action has lasted.
o I have been a teacher for more than ten years.
o We haven't seen Janine since Friday.
o How long have you been at this school?
o I have had this computer for about a year.
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with never, ever and yet to talk about experience


o I have been abroad two times.
o Anna has never broken a leg.
o Have you ever eaten sushi?
with time references that refer to the time up to now. For example: today, this week,
this month, ever, never, already, recently, etc.
o I haven't seen her today.
o Have you ever smoked a cigarette?
o I have never been abroad before.
with time expressions that refer to both present and past
o

This week, Ive written three long reports. (= the week hasnt finished yet)

o So far, we have captured 30% of the market.


o Compare:
Tom has rung three times this morning already. (at 11 a.m.)
Tom rang three times this morning. (at 2 p.m.)
o Compare:
Ive known Bill for many years. (=We are still in touch)
I knew Bill when I was in college. (= We dont keep in touch)

More about past simple and present perfect: Students Book, page 122
128

____

____

__ UNIT 5: STRESS - GLOSSARY

________

ABSENTEEISM, noun [U]


(H R ) staying away from work, especially often and without good reasons
Absenteeism costs the industry millions of dollars every year.
There is a high level of absenteeism in this department.
There was an absenteeism rate of 25% in the office during the heat wave.
ACHIEVEMENT, noun
[C] a thing that sb has done successfully, especially using their own effort and skill
To keep within the budget was a great achievement.
[U] the act or process of achieving sth:
She felt a great sense of achievement every time she negotiated a deal.
ACTION PLAN, noun
a description of a set of things you need to do in order to achieve an aim or to solve a problem
Develop an action plan for your first year in business.
ADMIN informal for administration

ADMINISTRATION, noun
1 (BrE also admin, informal) [U]
the activities that are done in order to plan, organize and run a business or other institution
the day-to-day administration of a company
administration costs
day-to-day/general/office/routine administration
3 [C] the people who plan, organize and run a business or an institution
the national telecommunications administrations
BURN OUT; burn yourself/sb out, verb
to become extremely tired or ill/sick by working too hard over a period of time
The daily demands of her job eventually burned her out.
BURNOUT, noun
1 [U, C] the state of being extremely tired or sick, either physically or mentally, because you have
worked too hard
He gives advice to companies about preventing burnout among their employees.
[C] (especially AmE) a person who is suffering from burnout
CHALLENGING, adjective
difficult, in a way that tests your ability or determination
This has been a challenging time for us all.
COUNSELLOR, US USUALLY counselor US, noun
someone who is trained to listen to people and give them advice about their problems
The college now has a counsellor to help students with both personal and work problems.
a marriage-guidance counsellor
DOWNSHIFT, verb [+ or no obj]
to change to a job where you may earn less but which puts less pressure on you and involves less stress
He decided to downshift to spend more time with his family.
Since downshifting her career she only works four days a week.
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Downshift, noun [C, U]:


a career downshift
the downshift in economic growth
downshifter, noun [C]
downshifting, noun [U]
EXECUTIVE, noun
a person who has an important job as a manager of a company or an organization
Several top executives have left the company.
Our executives are judged on how well they manage people and look after the companys reputation.
JOB SATISFACTION, noun [U]
the feeling of achievement and enjoyment that a worker gets from their job
When employees take full responsibility for their work, this can lead to higher job satisfaction.
a job satisfaction survey
high/low/poor job satisfaction
a high/increased/low level of job satisfaction
to give/improve/obtain/provide job satisfaction
LIFESTYLE, noun [C, U]
the way in which a person or a group of people lives and works
They borrowed heavily to support their lavish lifestyle (= they spent a lot of money).
The food and health magazine is aimed at people with busy lifestyles.
Are you living a healthy lifestyle?
a comfortable/healthy/lavish/outdoor lifestyle
lifestyle brands/changes/magazines
MAJOR, adjective
very large or important
major international companies
the companys major shareholders
They have encountered major problems.
We see no need for a major change in strategy.
a major exporter of oil
The dollar rose against the other major currencies.
OPP MINOR
MERGE, verb [+ obj or no obj] merge (sth) (with/into) sth | merge A with B | merge A and B
(together)
(used especially about business organizations) to combine, or make two or more organizations combine,
to form a single organization
The companies are set to merge next year.
The bank merged with Swiss Bank Corp. in 1999 to form UBS.
The sales and marketing departments are being merged (together).
The newly merged company has its headquarters in Oslo.
MERGER, noun [C]
(Finance ) the act of joining two or more businesses or organizations into one
There is talk of a merger between the two banks.
Analysts expect the retailer to seek a merger with a rival company.
She works in the mergers and acquisitions department of a well-known investment bank.
OVERWHELM, verb [T usually passive]
to cause someone to feel sudden strong emotion
I was quite overwhelmed by all the flowers and letters of support I received.
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OVERWORK, verb [+ obj or no obj]


to work too hard; to make sb work too hard
You look tired. Have you been overworking?
The staff are grossly overworked.
overworked executives
OVERWORK, noun [U]
the fact of working too hard
His illness was brought on by money worries and overwork.
OVERWORKED, adjective
1 having to work too much
an overworked civil servant
I'm overworked and underpaid .
PERK, noun
1 INFORMAL an advantage or benefit, such as money or goods, which you are given because of your job
A company car and a mobile phone are some of the perks that come with the job.
Perks offered by the firm include a car and free health insurance.
There was a long-running dispute over executive perks.
Not having to get up early is just one of the perks of being retired.
PRESSURE, noun
1 [U] when someone tries to make someone else do something by arguing, persuading, etc
public/political pressure
Teachers are under increasing pressure to work longer hours.
He only asked her under pressure from his wife (= because his wife forced him to).
She's putting pressure on him (= trying to persuade him) to get married.
2 [C or U] a difficult situation that makes you feel worried or unhappy
She's got a lot of pressure on her at work just now.
Be nice to him - he's been under a lot of pressure recently.
Can you work well under pressure?
the pressures of work
QUALITY OF LIFE
the level of enjoyment, comfort and health in someone's life
My quality of life has improved tremendously since I moved to the country.
QUALITY OF WORKING LIFE (especially BrE ) (AmE usually Quality of Work Life) phrase
(abbr QWL)
how happy and satisfied employees feel at work; techniques and methods designed to improve this
QUALITY TIME, noun [U]
time that you spend with someone, giving them your full attention because you value the relationship
He makes sure he spends a few hours quality time with his children every day.
QUESTIONNAIRE
, noun
a list of questions that a number of people are asked so that information can be collected about something
THE RAT RACE, noun [sing.] (informal )
the way of life of people living and working in a big city where everyone competes in an aggressive way to
be more successful, earn more money, etc
He decided it was time to quit the rat race.

131

REDUNDANCY, noun [U, C] (plural redundancies) (BrE)


(H R ) a situation when a person loses their job because there is no more work available for them; jobs lost
in this way
Thousands of factory workers are facing redundancy in the New Year.
Workers will be offered 5 000 to take voluntary redundancy.
There could be as many as 32 000 redundancies, 16% of the workforce.
RESIGN, verb [+ obj or no obj]
(H R ) to officially tell sb that you are leaving your job, an organization, etc
She resigned as manager after eight years.
Two members resigned from the board in protest. He resigned his directorship last year.
VOCABULARY BUILDING: Leaving a job
She resigned as chairman following a dispute over company strategy.
(informal) They wouldn't give me a raise, so I quit.
Under company rules, men must retire at 65.
He said he had stepped down to make way for someone younger.
The chief executive and finance director vacate their posts next year.
After 12 years in banking, he decided to retrain as a teacher.
REWARDING, adjective
providing benefits such as a feeling of achievement, a lot of money, etc
This job is not very financially rewarding (= is not very well paid).
My time at the company has been enormously rewarding.
SATISFACTION, noun [U]
the good feeling that you have when you are happy with sth that you have done, that you have
bought, that has happened, etc
She had the satisfaction of seeing her book become a best-seller.
He looked back on his career with great satisfaction.
CUSTOMER SATISFACTION, JOB SATISFACTION
SENIOR, adjective, [usually before noun]
having a higher rank in an organization or profession than others
senior analysts/bankers/editors
He is senior to me.
The meeting should be chaired by the most senior person present.
Senior management was/were involved in the decision.
Shes senior partner at the law firm.
I have ten years' experience at senior management level.
a senior employee/executive/manager/official/vice-president
senior management/staff
a senior associate/partner
a senior position/post
STIMULATE, verb [+ obj]
1 to make sth develop or become more active:
Falling prices will stimulate demand for new phone services.
Creativity is stimulated by the continual challenge of solving new technical problems.
to make sb interested and excited about sth:
Do you feel stimulated by your work?

132

STIMULATING, adjective
1 If something is stimulating, it encourages new ideas
a stimulating discussion
Universities have been asked to make their courses more attractive and stimulating.
2 describes someone who makes you feel enthusiastic and full of ideas
a really stimulating teacher
STRESS, noun
1 Pressure or worry caused by the problems in sbs life or work
Can you make decisions under stress?
the stresses and strains of running your own firm
stress-related illnesses stress management (= dealing with stress)
to be under/experience/suffer (from)/have stress
executive/workplace stress
to cause/increase stress
to avoid/reduce/relieve/remove stress
to cope with/deal with/handle/manage stress
STRESSED, adjective, (also stressed out) [not before noun]
too worried and tired to be able to relax
If I get too stressed out I take a days leave.
STRESSFUL, adjective
causing a lot of anxiety and worry
Ive had a very stressful week.
HIGH-PRESSURE
a stressful job/lifestyle/situation/time
STRETCH, verb [+ obj]
to make use of all your money, supplies, time, etc. so that there is little or nothing left
This sudden rush of orders has stretched us to the limit.
We cant take on any more work-were fully stretched as it is.
SUPERVISE, verb [I or T]
to watch a person or activity to make certain that everything is done correctly, safely, etc
The UN is supervising the distribution of aid by local agencies in the disaster area.
The children play while two teachers supervise (= make certain that they behave correctly and are safe).
TIME OFF, noun [U]
a period when you are away from work because you are ill/sick, taking a holiday/vacation, etc
I need to take time off to study for my exam.
Hes had a lot of time off through illness this year.
to ask for/get/have/take (some) time off
TREADMILL, noun
1 [S] any type of repeated work which is boring and tiring and seems to have no positive effect and no end
There were days when child-rearing seemed like an endless treadmill of feeding, washing and nappy-changing.
WORK-FAMILY, adjective [only before noun]
used to describe the relationship between the time a person spends at work and the time they spend with
their family
Most children studied believe their mothers handle work-family issues well.

133

WORK-LIFE BALANCE (also spelled work/life, work-life balance), noun [C, usually sing., U]
a situation when a person manages to spend the right amount of time at work and on their personal life
She cut her working hours to improve her work-life balance.
WORKLOAD, noun [C]
the amount of work that has to be done by a particular person, organization or machine
a heavy workload
We have taken on extra staff to cope with the increased workload.
to cut/ease/increase/reduce/share a workload

134

___________________EXERCISES FOR SELF-STUDY/ REVISION ______________________


EXERCISE 1.

Complete the sentences. Choose the correct option.


1. If we cant _______ the deadline, we wont get a contract.
2. _______ stuck in a traffic jam on your way to work is just terrible!
3. Having to _______ a formal meeting makes a lot of people nervous.
4. I find _______ a presentation to senior executives rather stressful.
5. Max organizes his time as he wants, so he can _______ his afternoons free.
6. People who are always afraid of _______ mistakes suffer from a lot of stress.
7. Nick has _______ a lot of research on the subject of absenteeism.
8. The project is quite difficult, but we are _______ steady progress.
9. The stress counselor recommended that we should _______ yoga to relax.
10. There was so much work that Peter was just dreaming of _______ a few days at the
seaside.
1. a) match

b) meet

c) keep

2. a) queuing

b) being

c) doing

3. a) be

b) deal

c) lead

4. a) taking

b) making

c) doing

5. a) keep

b) spend

c) be

6. a) taking

b) doing

c) making

7. a) made

b) done

c) taken

8. a) making

b) keeping

c) doing

9. a) do

b) make

c) take

10. a) taking

b) spending

c) keeping

EXERCISE 2.

Fill in the gaps with words from the box.


counselor
deadlines
pressure
resign

do
flextime
workaholic

lifestyle
workload

Lukas Toriello worked for 12 years as a technical adviser at Orion Electronics, a software
company. The ______________________ was very heavy, but he enjoyed his job. In fact, he
quite liked the ______________________. He felt he had a lot of freedom in the way he
organized his time, as there was a system of ______________________ at Orion. Lukas enjoyed
spending time with his three children, and all in all he thought he had a comfortable
______________________
Then, three years ago, Orion Electronics merged with gigatec, a huge company. Lukass line
manager was a real ______________________ who expected everyone to work overtime every
135

day. Lukas, like all his colleagues, lost all control over his working hours. In addition, the
______________________ became impossible and there was never enough time to finish
things. In the end, Lukas got so depressed that he went to see a stress
______________________, who advised him to take time off or to look for another job. He
decided to ______________________. Since last September, he has been working for a small,
dynamic company where bosses value the welfare of their employees and the quality of the work
they ______________________.
EXERCISE 3.

Fill in the gaps with words from the box. You have more words than you need.
burn out -- burn over -- challenges -- challenging -- downshifters -- downshifting -lifestyles -- mouse race -- overwhelmed -- overwhelming -- overwork -- pressure
quality of life -- quality time -- rat race -- rat racing -- rebalancing -- rewarding
rewarded -- satisfaction -- satisfied -- stimulating -- stimulation -- stressful -- stressed in - stressed out -- treadmill -- under stress -- unstressful -- work/life balance -working/living balance

STRESS IN GENERAL

People like work that is r__________________ and gives them s__________________. For
this, a reasonable amount of pressure may be necessary: many employees want work that
stretches them, to have the feeling that it can sometimes be difficult, but that it is also
s__________________ and c__________________. This is necessary if one is to have pleasant
feelings of achievement. But when p__________________ builds up, it's easy to feel o
__________________ by work and this can produce feelings of stress. It is possible to become
s_____________ o_____________ through o__________________ or other problems.
People b__________________

o__________________, so stressed and tired that they may

not be able to work again. More and more people want to get away from what they call the
r____________

r__________ or the t__________________ , the feeling that work is too

competitive, and are looking for l__________________ that are less s__________________
or completely u__________________ . People are looking for a better q__________________
o__________________

l__________________

, a healthier w__________________

Perhaps they are looking for more q__________________

t__________________

with

their partners and children. Choosing to work in less stressful ways is known as
d__________________ or rebalancing.

136

EXERCISE 4.

Fill in the blanks with missing letters (vowels and consonants).

1.

A company car and a mobile phone are some of the p___ r__ ___ that come with the job.

2.

The stresses and strains of running your own firm can cause you to
b____ ____ ____ o ____ ____.

3.

Universities have been asked to make their courses more attractive and
s____ ____ m____ l____ ____ ____ ____ g.

4.

He gives advice to companies about preventing b____ ____ ____ o____ t among their
employees.

5.

Two members r____ s____ ____ ____ ed from the board in protest. He resigned his
directorship last year.

6.

We have taken on extra staff to cope with the increased


w____ ____ ____ l____ ____ ____.

7.

The food and health magazine is aimed at people with busy l____ ____ ____
s____ ____ ____ ____ s.

8.

I was quite o____ ____ ____ w____ ____ l____ ____ d by all the flowers and letters of
support I received.

9.

My q____ ____ ____ ____ ____ ____ o____ l____ ____ ____ has improved
tremendously since I moved to the country.

10. There was an a____ ____ ____ n____ e____ ____ ____ m rate of 25% in the office
during the heat wave.
11. There could be as many as 32 000 r____ ____ ____ nd____ ____ ____ i____ s, 16% of
the workforce.
12. This job is not very financially r____ w____ ____ d____ ____ g.
13. Since d___ ___ ___ s___ ____ ____ ____ ing her career she only works four days a week.
14. Increasing work p____ ____ s____ ____ ____ e on staff is leading to rising
s____ ____ ____ ____ s levels.
15. I need to take t____ ____ ____ o____ ____ to study for my exam.
16. You look tired. Have you been o____ ____ ____ w____ r____ ____ ng?
17. He makes sure he spends a few hours q____ ____ ____ ____ ____ ____ t____ m____
with his children every day.
18. There were days when child-rearing seemed like an endless
t____ ____ ____ d____ ____ ____ ____ of feeding, washing and nappy-changing.
19. She cut her working hours to improve her w____ ____ ____ -l____ ____ ____
b____ l____ ____ ____ ____.
20. The bank m____ ____ ____ e____ with Swiss Bank Corp. in 1999 to form UBS.
137

5.
Match the items on the right to the items on the left.
a. the amount of work that has to be done by a particular person,
organization or machine
1. absenteeism
b. If something is defined as this, it encourages new ideas
2. action plan
c. a situation when a person manages to spend the right amount of time at
3. burnout
work and on their personal life
d. the way of life of people living and working in a big city where everyone
4. downshift
competes in an aggressive way to be more successful, earn more money,
5. job
etc
satisfaction
e. to change to a job where you may earn less but which puts less pressure
6. lifestyle
on you and involves les stress
7. merge
f. the way in which a person or a group of people lives and works
g. to cause someone to feel sudden strong emotion
8. overwhelm
h. to work too hard; to make sb work too hard
9. overwork
i. an advantage or benefit, such as money or goods, which you are given
10. perk
because of your job
11. quality of
j. the level of enjoyment, comfort and health in someone's life
life
k. time that you spend with someone, giving them your full attention
because you value the relationship
12. quality time
l. a situation when a person loses their job because there is no more work
13. quality of
available for them
working life
m. providing benefits such as a feeling of achievement, a lot of money, etc
14. the rat race
n. to officially tell sb that you are leaving your job, an organization, etc
15. redundancy
o. to watch a person or activity to make certain that everything is done
16. resign
correctly, safely, etc
p. a description of a set of things you need to do in order to achieve an aim
17. rewarding
or to solve a problem
18. stimulating
q. the feeling of achievement and enjoyment that a worker gets from their
19. supervise
job
r. a period when you are away from work because you are ill/sick, taking a
20. time off
holiday/vacation, etc
21. treadmill
s. the state of being extremely tired or sick, either physically or mentally,
22. work-life
because you
have worked too hard
balance
t. (used especially about business organizations) to combine, or make two
23. workload
or more organizations combine, to form a single organization
u. any type of repeated work which is boring and tiring and seems to have
no positive effect and no end
v. staying away from work, especially often and without good reasons
EXERCISE

1 ______2 ______3 ______4 ______5 ______6 ______7 ______8 ______ 9 ______10 ______
11 ______12 ______13 ______14 ______15 ______16 ________ 17 ________ 18 ________
19 ________ 20 ________ 21 ________ 22 ________ 23 ________
138

EXERCISE 5.

Can you find the hidden words?

absenteeism

perk

supervise

action plan

quality of life

time off

burnout

quality time

treadmill

downshift

quality of working life

work-life balance

job satisfaction

the rat race

workload

lifestyle

redundancy

merge

resign

overwhelm

rewarding

overwork

stimulating
139

EXERCISE 7.

The words have been jumbled. What are they?

EXERCISE 8.

A) Complete with past simple or present perfect.


1. The management ____________________ (cut) the workforce by 20 percent in 2006.
2. _________________you _______________ (ever/ work) under pressure?
3. I ____________________ (already / take) time off work twice this year.
4. Sondra ____________________ (study) organizational psychology when she was at
university.
5. Our company ____________________ (just/ introduce) a non-smoking policy int he
staff restaurant.
6. Our manager ____________________ (be) ill for the past two weeks.
7. So far, only 23 employees out of 90 ____________________ (return) our
questionnaire.
8. The CEO of EOL Airways ____________________ (resign) yesterday.
9. The number of employees staying off work because of back trouble
____________________ (increase) dramatically over the last few years.
10. The number of redundancies ____________________ (go up) steadily during the
1990s.

140

B) Complete with past simple or present perfect.


Since computers were first introduced to the public in the early 1980's, technology
____________________ (change) a great deal. The first computers ____________________
(be) simple machines designed for basic tasks. They ____________________ (have, not) much
memory and they____________________ (be, not) very powerful. Early computers were often
quite expensive and customers often ____________________ (pay) thousands of dollars for
machines

which

actually____________________

(do)

very

little.

Most

computers

__________________ (be) separate, individual machines used mostly as expensive typewriters


or for playing games.
Times____________________

(change).

Computers_____________________

(become)

powerful machines with very practical applications. Programmers_____________________


(create) a large selection of useful programs which do everything from teaching foreign languages
to bookkeeping. We are still playing video games, but today's games ____________________
(become) faster, more exciting interactive adventures. Many computer users ________________
(get, also) on the Internet and ____________________ (begin) communicating with other
computer users around the world. We____________________ (start) to create international
communities online. In short, the simple, individual machines of the past __________________
(evolve) into an international World Wide Web of knowledge.
EXERCISE 9.
Answer the following questions.

Unit 5, Stress
What do you do to relax?
What do you think are the main causes of stress at work?
What situations do you find stressful?
What can people do to have a good work-life balance? What do you do in this respect?
Can stress be useful in your opinion? Discuss.
What is rat race? What can a person do to escape it?
141

Who is a workaholic?
Case study: explain what you would do to solve problems with heavy workload and with
the new HR director and space problems.

142

UNIT 6: ENTERTAINING

"There is no such thing as a free lunch." Anonymous


"There is no such thing as a free lunch." expresses the idea that even if something seems like it is
free, there is always a cost, no matter how indirect or hidden. The idea is that someone may pay
for lunch but that something will always be expected from you in return. In business term this
might be a contract, better sales terms, a job or some other favor. This phrase is thought to have
originated when many saloons in the United States used to provide free lunches to their patrons,
but required them to purchase drinks in order to get them.
CULTURE
Culture is the way we do things here, they say. Here may be a country, an area, or a company.
We tend to assume that the way we see the world and the way we do things is best. However,
doing business across cultures asks for a more flexible approach. Recent literature suggests that
cultural awareness is absolutely essential for doing business abroad. What is considered
acceptable behavior in Croatia does not have to be so desirable in Saudi Arabia. Western cultures
are in general time-conscious, deadline-oriented, and focused on results. On the other hand,
Latin and Eastern cultures are more interested in getting to know the people involved in the
transaction and business is built on trust ever a long period of time. The best way to build a
business relationship in a Latin American country, China, Japan or even Spain and Italy, is
through networking.

143

In other words, it has been said that when two American or European business people
meet, they are there to do a deal, but in Asia they are there to establish a relationship.
Entertaining in Asia is often used to size up a potential business partner partner in the sense
of future supplier or joint venture associate. Asians will want to know more about their guests,
their background and their contacts before going ahead and doing business. This is an essential
part of the business process, not just polite etiquette.
CROSS-CULTURAL COMMUNICATION
Get yourself introduced by a trusted relation of your new client and
expect many lunches and dinners before the deal is made. Though it
is impossible to fully master all the intricacies of other societies, it is
worth learning at least the basics - how to greet and address others,
how to dress, how to handle business cards, personal space, eye
contact, and punctuality to name a few.
Listed are some areas of potential cultural misunderstanding and some are discussed in more
detail

Distance when talking to people: what is comfortable?

Eye contact: how much of the time do people look directly at each other?

Gesture: do people make lots of facial gestures? How much do they move their arms
and hands?

Greetings/goodbyes: do people shake hands every time? Are there fixed phrases to
say?

Humor: is this a good way of relaxing people? Or is it out of place in some contexts?

Physical contact: how much do people touch each other?

Presents: when should you give them? When should you open them? What should
you say when you receive one?

Rules of conversation and the role of silence: how long can people be silent before
they feel uncomfortable? Is it acceptable to interrupt when others are speaking?

144

GREETINGS

First impressions are always important so showing cultural respect


when greeting others is essential. In many Western countries a
handshake is the preferred greeting, but even differences exist there. In
America and most of Europe, handshake with good eye-contact is
expected at introductions and departures. The Japanese often shake
hands with westerners as sign of respect and appreciate when westerners bow out of respect to
their culture. Chinese may bow or shake hands. In Germany a firm, brief handshake with good
eye contact is expected at introductions and departures while in Italy handshakes can be warm
and spirited in business meetings. And in both countries it is customary to shake hands with
everyone in the group upon entering and leaving, avoiding general group salutations. Some
cultures, such as the French, may kiss one another when greeting at work, but it is best to refrain
from the behaviour unless they initialise it, extending your hand instead. In Saudi Arabia always
shake hands with the right hand as left hands are considered unclean. Never extend your hand to
a Saudi woman. And in Taiwan, western males should not initiate a hand shake with Chinese
females.
In most European countries, people like to be addressed by their academic and professional titles
followed by their surname. The exceptions are the egalitarian societies of Scandinavia and the
Netherlands, where every person is considered as equal and titles are usually not used.
BODY LANGUAGE

If you dont know the rules of non-verbal communication, you


may transmit unintended messages.
In European countries and America, a person who does not
maintain good eye contact is regarded as being slightly
suspicious, or a shifty character. Americans unconsciously associate people who avoid eye
contact as unfriendly, insecure, untrustworthy, inattentive and impersonal. However, in contrast,
Japanese children are taught in school to direct their gaze at the region of their teachers Adams
apple or tie knot, and, as adults, Japanese lower their eyes when speaking to a superiors, a gesture
of respect. In Asian countries, maintaining eye-contact is perceived as a sign of aggression. In
Arab cultures, eye-contact and other gestures of openness are important and welcome. A
widening of the eyes can also be interpreted differently, depending on the circumstances and
culture. Take, for instance, the case of an American and Chinese discussing the terms of a
proposed contract. Regardless of the language in which the proposed contract is carried out, the
145

US negotiator may interpret a Chinese persons widened eyes as an expression of astonishment


instead of as a danger signal (its true meaning) of politely expressed anger.
RULES OF CONVERSATION

Europeans and Americans feel uncomfortable with silent moments but in Japan long pauses in
conversation are normal.
PERSONAL SPACE

Americans and northern Europeans may be made uncomfortable by the close conversation
distance of Arabs, Africans or southern Europeans, who also tend to touch each other on the
arm, back and shoulder. If you feel uncomfortable with that proximity, do not step back as that
would be considered impolite.
TIME
Attitudes towards time can vary enormously. In some
countries, people start work at eight, and officially
finish at six, though many managers stay much longer.
There is a culture of presenteeism: being at work
when you do not need to be. There is a two-hour lunch break, and a lot of business is done over
restaurant lunches. (Lunch is the main meal. The working breakfast is rare.) There are no snacks
between meals, just coffee, so eat properly at meal times.
As for punctuality, you can arrive up to 15 minutes 'late' for meetings. If invited to someone's
house (unusual in business), arrive 15-30 minutes after the time given.
Do not phone people at home about work, and do not phone them at all after 9 pm.
There can be a lot of public holidays (about 15) during the year. Some towns are empty in
August, as many companies close completely for four weeks. Employees have five weeks' holiday
a year and they usually take four of them in August.
GIFT-GIVING

In North America or the UK, gift-giving is rare in the business world and may be seen as bribery.
In many other countries gift giving and its etiquette are very important, especially in Asia.
For more information, check the following websites:
www.kwintessential.co.uk/etiquette/doing-business-in.html
www.getcustoms.com
146

CORPORATE ENTERTAINMENT OR CORPORATE HOSPITALITY.


Entertainment is defined as an event, performance, or activity designed to give pleasure
or relaxation to an audience. The audience may participate in the entertainment passively as in
watching opera, or actively as in computer games. The playing of sports and reading of literature
usually included in entertainment, are called recreation more specifically (involve some active
participation beyond mere leisure). Examples of entertainment are animation (e.g. cartoons),
cinema, circus, comedy, comics, dance, games (e.g. playing bingo), music, reading, sports, theater.
A special form of entertainment which is a way of entertaining business people is
Corporate Entertainment or Corporate hospitality. It is the entertainment that a company
offers to its most valued clients, for example by inviting them to sporting events and providing
them with food and drink. To put it in other words, the terms refers to private events held by
corporations or businesses for their staff, clients or stakeholders. These events can be for
retreats, Christmas parties or even private concerts. The companies that provide corporate
entertainment are called Corporate Event Planners or Corporate Booking Agencies. Corporate
entertainment includes: team building, entertaining clients, sports hospitality, conferences and
company fun days. Relationship building takes different forms in different places invitations to
karaoke evenings in Japan or the yacht on the French Riviera are not to be refused. The demand
for corporate hospitality in the UK has been criticized for making events such as grand-prix
racing or Wimbledon more expensive for ordinary people. Corporate hospitality of champagne
hospitality with largesse and inviting large numbers of people to company events has been left
behind and now we see a more targeted, carefully planned events designed and made for a
particular customer. But corporate sponsorship of sports and culture brings in large amounts of
money, and many such events benefit from this overall. Research has clearly shown that it can
cost at least four times as much to gain a new customer as to retain an existing one but
historically limited corporate resources have been given in a disproportionate way to sales and
business development as opposed to client service and retention. Hospitality is no different to
any other marketing discipline as a company must have clear objectives and measurement criteria
and tools embedded in the strategy to see whether they are meeting those objectives or not and
that the return on investment is worthwhile.
Entertaining in the form of invitations to your hosts home exists in some cultures but
not others, where work and private life are kept entirely separate. Cultural awareness of norms
in these and other areas can lead to better communication and avoidance of misunderstandings.
Companies are spending more time and money these days on cross-cultural training, often but
147

not always in tandem with language training, in order to facilitate better social interaction.
Socializing in another language is not easy. There is more focus that in business discussions on
the language itself. Learners, rightly, demand formulaic expressions for particular situations. This
is often called small talk. But to refer to it as small undervalues its importance. Language
learners see it as a minefield of potential problems and, inevitably, gaffes. People have their
favorite stories about such mistakes, perhaps ones they made themselves.
SMALL TALK
Small talk is conversation for its own sake; the
ability to conduct small talk is a social skill.
Subjects are typically on harmless or unimportant
subjects, made to open conversations, usually out
of politeness. The purpose of small talk is not to
prove who knows more, but to smoothen the
interaction between the interlocutors. The aim is
to avoid the discomfort of silence between 2 or
more individuals at an otherwise social function.
Small talk can be a big challenge, but a little preparation and confidence is all you need. As a
skilled small talker you will come across as a more open and friendly person, compared to
someone who doesn't say much during social situations. Just don't overdo it because then people
will find you annoying and too chatty. Steps to follow (remember our discussion in class)

Practice.

Be a better listener.

Read everything.

Force yourself to get into small-talk

Immerse yourself in culture, both

situations

high and low.

Work on.... building up your


confidence, overcoming shyness and

Keep a diary.

banishing any feelings of stage fright.

Remember, the more you know, the more you know you can talk about.

148

What topics are appropriate as small talk? (remember our discussion in class). As you read
the list and put a next to the topics that are appropriate and a to those that are
not.
The latest films, _____

Favorite music, _____

The local basketball team, _____

A magazine, _____

Cars, _____

Learning a language, _____

The Death Penalty, _____

Playing tennis, _____

Your home town, _____

Your current job, _____

How much you make, _____

An interesting excursion nearby, _____

Your last holiday, _____

The Internet, _____

Your favorite movie-star, _____

Keeping healthy, _____

The correct political party, _____

Your favorite food, _____

The weather, _____

Finding a job in your country, _____

Your health problems, _____

Gardening, _____

Your family, _____

The last book you read, _____

Your best friend, _____

Your worst holiday, _____

The last film you saw, _____


Pets, _____
A product you would like to sell to everyone, _____
Something you've never done, but would like to do, _____
Your children/ spouse/ significant other.

149

LANGUAGE REVIEW
MULTI-WORD VERBS (PHRASAL VERBS)

What is a multi-word verb or a phrasal verb?


Phrasal verbs are very common and are a really good way to make you sound more natural when
speaking informal English. A multi-word verb is a verb and one or two particles (prepositions or
adverbs like at, away, down, in, on, up). Look at the following examples:
o She gets up at six o'clock every morning.
o . . .executives would think little of running up a $7,000 bill. . .
o Some of Japans huge companies have cut down ritual corporate gift giving.
You cannot always guess the general meaning of the multi-word verbs, e.g. I had to turn down
their offer of dinner. (=refuse)). The meaning of many phrasal verbs is difficult to interpret. However,
it can help if you understand the meanings of the particles:
away = creating distance
Im going away next week.
Dont run away . I need to talk to you.
on = continuing
Carry on the good work!
The meeting went on until seven oclock.
over = considering
I need time to think it over.
Come and see me, and well talk it over.
up = completing
Some urgent matters need clearing up .
Drink up . Weve got to go.
Some multi-word verbs can be separated from their particles i.e. the direct object can come
after the verb and before the particle. (I called off the meeting. or I called the meeting off; Could you

turn on the coffee machine? or Could you turn the coffee machine on ? ) while some multi-word verbs
cannot be separated. (She paid for the drinks. BUT NOT * She paid the drinks for; The director cannot

do without his PA. BUT NOT * The director cannot do his PA without.). Some phrasal verbs do not
have an object (The photocopier has broken down .; Something has come up. )
In many cases the phrasal verb is more informal than its synonym (How did you find out?; We set off
early. )

150

____ ____

__ UNIT 6: ENTERTAINING - GLOSSARY

___ ________

ABSENTEEISM, noun [U]


(H R ) staying away from work, especially often and without good reasons
Absenteeism costs the industry millions of dollars every year.
There is a high level of absenteeism in this department.
There was an absenteeism rate of 25% in the office during the heatwave.
ANNUAL GENERAL MEETING (abbr AGM) (BrE ) (also ANNUAL MEETING, AmE ), noun
[C]
an important meeting of the shareholders or members of a company, held once a year, to present the
accounts and discuss important topics
The shareholders proposed breaking up the group at the last AGM.
a meeting of the members of any organization, held once a year
BOOM, noun (Economics)
a sudden increase in trade and economic activity; a period of wealth and success
a boom in sales
The sales boom is attributed to low unemployment and low interest rates.
the Internet boom of the 1990s
a boom year (for trade, exports, etc.)
CHIEF EXECUTIVE OFFICER (also CHIEF EXECUTIVE, especially in BrE ), noun [C] (abbr
CEO)
the person in a company who has the most power and authority and is responsible for managing its daily
affairs under the authority of the board of directors
He is the chairman and chief executive officer.
to appoint sb (as)/make sb/name sb (as)/promote sb to chief executive officer
to be/become/retire as/serve as chief executive officer
NOTE The chief executive officer is usually a member of a companys board of directors. In the US
(but not the UK) the CEO is often also the chairman of the board.
CONFERENCE, noun [C]
a large official meeting, usually lasting for a few days, at which people with the same work or interests
come together to discuss their views
She is attending a two-day conference on electronic commerce in Munich.
Ive been invited to speak at the annual conference.
125 of the 400 delegates at the conference were women.
the 1994 International Conference on Population and Development, held in Cairo
SYN CONVENTION
to attend/go to/participate in a conference
to hold/organize a conference
CONVENTION, noun [C]
a large meeting of the members of a profession, an organization, etc
The industry has its annual convention in Cannes.
SYN CONFERENCE
to arrange/have/hold/organize a convention
to attend/go to a convention
CORPORATE, adjective [only before noun]
connected with a company or a group, or with business in general
His corporate clients include 3M and Nabisco.
The big hotels are suffering from cutbacks in corporate travel.
They specialize in corporate banking.
151

(OFTEN CORPORATE) CORPORATE AMERICA, BRITAIN, etc.


used especially in newspapers to talk about the people and organizations that control a countrys business
The stock market continues to suffer as corporate America struggles to make a profit.
CORPORATE HOSPITALITY, noun [U]
(Marketing ) when companies entertain customers, business partners, their staff, etc. for example at a big
sports event, in order to help develop good business relationships
Corporate hospitality often plays an important role in achieving marketing goals.
The sailing club offers a corporate hospitality suite (= a special room or rooms where a company can
entertain its guests).
COST-EFFECTIVE, adjective
giving the best possible profit or benefits for the money that is spent: If an activity is cost-effective, it is
good value for the amount of money paid
Printing the books locally is not cost-effective.
We need a more cost-effective way to distribute our products.
It wouldn't be cost-effective to buy an expensive new computer when all you want to do is word processing.
COURSE, noun
an area of land or water used for a sports event
a golf course/cross-country course
COURT, noun
an area marked out on the ground which is used for playing sports such as tennis and basketball
a tennis/volleyball/basketball/squash court
CUISINE, noun [U]
a style of cooking
DEAL, noun (Commerce) [C]
a formal business agreement, especially an agreement to buy or sell goods or provide a service
The board of directors have approved the deal.
The two companies signed a deal worth $1.7 billion.
CUT A DEAL (WITH SB); CUT (SB) A DEAL, (INFORMAL )
to make an arrangement with sb
She cut a deal with the boss who allowed her to work on the project if she raised half the funds.
They cut themselves a good deal, sharing 50% of the profits
DECLINE, noun
a process or period of becoming weaker, smaller or less good
The country suffered a sharp decline in exports
She has failed to reverse the companys decline.
The rate of decline is now slowing.
The currency has been in decline since the 1980s.
The company reported a 14% decline in sales.
a dramatic/rapid/sharp/steep decline
a gradual/slight/slow decline
a continued/continuing/steady decline
to halt/reverse/stop/suffer a decline
DULL, adjective
not interesting or exciting in any way; boring
She wrote dull, respectable articles for the local newspaper.
He's pleasant enough, but deadly dull (= very boring).

152

ETIQUETTE, noun [U]


the rules of polite and correct behavior
Punctuality is an important aspect of business etiquette.
All staff receive training on the etiquette of electronic mail.
FACILITY, noun
a place, especially including buildings, where a particular activity happens
GAFFE, noun
a remark or action that is a social mistake and not considered polite; faux pas
I made a real gaffe - I called his new wife 'Judy' which is the name of his ex-wife.
Was that a bit of a gaffe then, starting to eat before everyone else had been served?
IMPACT, noun
a powerful effect that something, especially something new, has on a situation or person
The anti-smoking campaign had had/made quite an impact on young people.
The new proposals were intended to soften the impact of the reformed tax system.
INCENTIVE, noun [C or U]
something which encourages a person to do something
Tax incentives have been very effective in encouraging people to save and invest more of their income.
Bonus payments provide an incentive to work harder.
LEISURE, noun [U]
the time when you are not working or doing other duties
leisure activities
Most people only have a limited amount of leisure time .
The town lacks leisure facilities such as a swimming pool or squash courts.
LOYALTY, noun [U]
BRAND LOYALTY, CUSTOMER LOYALTY
the quality of being faithful to a particular product, company, etc.
OBJECTIVE, noun
something which you plan to do or achieve
Her main/prime objective now is simply to stay in power.
Can the sales force achieve/meet its financial objectives?
OUTSTANDING, adjective
excellent; clearly very much better than what is usual
an outstanding performance/writer/novel/year
It's an area of outstanding natural beauty.
PARTICIPANT, noun
a person who takes part in or becomes involved in a particular activity
PITCH, noun (US field)
an area marked for playing particular sports, especially football
a football/hockey/cricket pitch
PRESENTEEISM, noun [U]
(H R ) staying longer at work than you need to, especially so that people will think you work very hard
Most workers claim to suffer from a culture of presenteeism.

153

RECAP, verb [I or T] -ppto repeat the main points of an explanation or description


Finally, the teacher recapped the main points of the lesson.
To recap, our main aim is to increase sales by 12% this year.
RECKON, verb INFORMAL
to think or believe
I reckon it's going to rain.
[+ (that)] How much do you reckon (that) it's going to cost?
RELATIONSHIP, noun [C]
CUSTOMER R., EMPLOYMENT R.
the way in which two people, groups or countries behave towards each other or deal with each other
The company hopes to build relationships with customers.
the relationship between brokers and the companies they represent
I have established a good working relationship with my boss.
The company will focus on developing client relationships.
REMINISCENT, adjective FORMAL
reminiscent of sb/sth
making you remember a particular person, event or thing
That song is so reminiscent of my adolescence.
SEMINAR, noun [C]
a meeting for discussion or training
a one-day management seminar
to conduct/hold/organize/run a seminar
to attend/go to a seminar
an all-day /a one-day/weekly , etc. seminar
a business/management/training seminar
SENIOR, adjective
having a higher rank in an organization or profession than others
He is senior to me.
The meeting should be chaired by the most senior person present.
VOCABULARY BUILDING: Words for bosses
TOP MANAGEMENT
MIDDLE MANAGEMENT
directors
junior/middle managers
executives
line managers
senior managers
team leaders
supervisors
Note: The word direct report is used to describe a person that you are directly responsible for, at any
level of an organization: Line managers should set targets with their direct reports.
The phrase immediate boss/supervisor can be used to describe the person that you are responsible to.
SET SB BACK STH (not used in the form be set back)
to cost sb a particular amount of money
The repairs could set us back over 200 000.
SHUTTLE, noun
a vehicle or aircraft that travels regularly between two places
To get across town, you can take the shuttle from Times Square to Grand Central.
154

SPACIOUS, adjective
large and with a lot of space
spacious accommodation
SPLIT UP transitive and intransitive verb
send people different ways: to go off in a different direction, or send individuals off in different
directions
SPONSOR, noun [C], (Marketing)
a person or a company that helps pay the costs of sth such as a special event, a sports team or a scientific
project, usually in order to advertise their products
They are the main sponsors of the conference.
The name of the clubs sponsors appears on the shirt.
SPONSOR, verb [+ obj] (Marketing)
to help pay for an event, a sports team, a scientific project, etc. usually as a way of advertising
The company has sponsored the team for seven years. sports events sponsored by the tobacco industry
The research is sponsored by industry.
TEAM BUILDING, noun [U]
the process of getting people to work together on a particular job
Changes to production methods involved team building and creating a multi-skilled workforce.
team-building activities/exercises
TREPIDATION, noun [U] FORMAL
fear or anxiety about what is going to happen
We view future developments with some trepidation.
WORKSHOP, noun [C]
a period of discussion and practical work on a particular subject, in which a group of people share their
knowledge and experience:
They run a two-day workshop on marketing techniques.
to conduct/do/hold/lead/organize/run a workshop
to attend/take part in a workshop

155

___________________EXERCISES FOR SELF-STUDY/ REVISION ______________________


EXERCISE1.
Match the items on the right to the items on the left.
a. a large official meeting, usually lasting for a few days, at which
people with the same work or interests come together to
discuss their views

1.

redundancy

2.

AGM

3.

convention

4.

venue

5.

deal

6.

absenteeism

7.

facility

8.

dismiss

9.

incentive

10.

conference

11.

presenteeism

12.

CEO

13.

corporate
hospitality

b. something which encourages a person to do something


c. staying longer at work than you need to, especially so that
people will think you work very hard
d. a large meeting of the members of a profession, an
organization, etc
e. when companies entertain customers, business partners, their
staff, etc. for example at a big sports event, in order to help
develop good business relationships
f. staying away from work, especially often and without good
reasons
g. a formal business agreement, especially an agreement to buy or
sell goods or provide a service
h. to officially remove an employee from their job
i. the person in a company who has the most power and authority
and is responsible for managing its daily affairs under the
authority of the board of directors
j. a place, especially including buildings, where a particular activity
happens
k. a situation when a person loses their job because there is no
more work available for them; jobs lost in this way
l. an important meeting of the shareholders or members of a
company, held once a year, to present the accounts and discuss
important topics
m. the place where a public event or meeting happens
1 ______2 ______3 ______4 ______5 ______6 ______

7 ______8 ______ 9 ______10 ______11 ______12 ______13 ______


EXERCISE 2.
Fill in the blanks with missing letters (vowels and consonants).
1.

More than 100 workers have been made r___ ___u___d___ ___t.

2.

The shareholders proposed breaking up the group at the last a___ ___ ___ ___ ___
g___ ___ ___ ___ ___ ___ m___ ___ ___ ___ ___ ___.

3.

Ive been invited to speak at the annual c___ ___f___ ___ ___n___e.
156

4.

Tax in___ ___ n___ ___ v___s have been very effective in encouraging people to save
and invest more of their income.

5.

Restructuring and d___ ___ ___ y___ring have meant redundancies for many
experienced people.

6.

C___ ___ p___ r___ ___ e h___ s___ ___ t___ l___ ___ y often plays an important
role in achieving marketing goals.

7.

She was d___ ___ ___ i___ sed for misuse of company property.

8.

We f___ r___ d him for dishonesty.

9.

The company s___c___ed its chief executive after a series of poor results.

10.

Thousands of factory workers are facing r___d___n___ ___nc___ in the New Year.

11.

The company has l___ ___d ___ff 200 of its employees.

12.

The hotel is an ideal v___n___ ___ for conferences and business meetings.

13.

Big companies are d___w___s___ ___ing and increasing their temporary workforce.

14.

There was an a___s___ ___t___e___s___ rate of 25% in the office during the heatwave.

15.

The two companies signed a d___ ___ ___ worth $1.7 billion.

16.

Most workers claim to suffer from a culture of pr___s___ ___t___ ___i___m as they
stay at work for a long time.

EXERCISE 3.
Fill in the gaps with words from the box.
aperitif
bill
book
courses

dessert

dishes

menu

tip

1.

If you plan to take your guests to a popular restaurant, it is a good idea to


_____________________ a table in advance.

2.

In some countries, people like to have an _____________________ before their meal on


special occasions. (That0s a small drink which is usually alcoholic)

3.

People then look at the _____________________ to choose what they are going to eat.

4.
5.
6.

If you know that some of your guests do not eat meat, choose a place where there are
vegetarian _____________________.
When they do not have a lot of time, people often do not order a starte, they have the
main _____________________ straight away.
But remember that many people like to have a _____________________, for example
ice cream or fruit, even if they are in a bit of a hurry.

7.

When you are ready to pay, you call the waiter and ask for the _____________________.

8.

If you are satisfied with the service, you will probably want to leave a good
_____________________.

157

EXERCISE4.
Complete the text. Choose the correct option.
Genetron is an international pharmaceuticals company based in Zurich. It is ____ (1) a big
international conference later this year. The Chief Executive and senior managers at head office
will ____ (2), of course, as well as all managers from its 35 overseas ____ (3). The main aim of
the conference is to allow managers to ____ (4) each other better and to become a stronger
international team. The conference will ____ (5) in September. ____ (6) will arrive on Friday
afternoon and leave on Sunday evening. This is an important ____ (7) for Genetron, and its
Marketing Department is planning it carefully. Last month, the marketing team sent out a ____
(8) to find out what type of ____ (9) the participants would prefer. So far, it seems that the
Emerald Hotel in Monaco is the one that best meets ____ (10) of the conference.
1. a) making

b) holding

c) happening

2. a) attend

b) be

c) part

3. a) manufacturers

b) subsidiaries

c) head offices

4. a) get to know

b) meet

c) talk

5. a) take in

b) take place

c) take part

6. a) participants

b) applicants

c) members

7. a) event

b) activity

c) party

8. a) a discussion

b) an interview

c) a questionnaire

9. a) room

b) place

c) venue

10. a) problems

b) requirements

c) enquiries

EXERCISE 5.
The words have been jumbled. What are they?

158

EXERCISE 6.
Can you find the hidden words?
absenteeism
dismiss
conference
facility
convention
incentive
corporate hospitality
presenteeism
deal
redundancy

159

seminar
sponsorship
venue
workshop

EXERCISE 7.
Replace the word or phrase in bold in each sentence with another phrase containing a
multi-word verb from the box.
carry on
come up
found out
put it off
set off
take part
taking out
take up
talk it over
turned it down
1.

Luis is entertaining our visitors from India tonight. ____________________________

2.

Congratulations! Continue the good work. ___________________________________

3.

It was a fantastic job, but he didnt accept it. _________________________________

4.

Mark has been in the same job for a long time. He is now ready to accept a challenge.
____________________________

5.

May is too early for the launch of our product. Im sure we need to have it at a later
date. ____________________________

6.

Some of the staff dont want to get involved in the social evening. _________________

7.

Sorry I cant make lunch tomorrow. Somethings happened. _____________________

8.

We dont know how our competitors discovered the information.


____________________________

9.

We have to start our journey early tomorrow. ________________________________

10.

We know theres a problem. Lets discuss it tomorrow. _________________________

EXERCISE 8.
Complete the text. Choose the correct option.
When I had to meet our new project team in Bangalore, I was really worried as it was my first
time there. Nobody ____ (1) at the airport to meet me. Neena, my local contact, had received the
wrong flight details. When we finally met, she ____ (2) me extremely well. The day after, we
____ (3) our Bangalore offices and laboratories, and I also ____ (4) a project team meeting in the
afternoon. In the evening they offered to ____ (5) for dinner, but I was so tired that I ____(6)
their invitation. I enjoyed my stay immensely and Im really ____ (7) my next visit. Next time, Ill
surely ____ (8) their invitation to dinner.
1. a) looked up

b) turned up

c) turned down

2. a) looked around

b) took out

c) took care of

3. a) took care of

b) found out

c) looked around

4. a) turned up

b) took part in

c) carried on

5. a) put me off

b) came up

c) take me out

6. a) turned down

b) took up

c) put if off

7. a) looking after

b) looking forward to

c) looking down

8. a) call off

b) come up

c) take up

160

Exercise 9.
a) Read the following phrasal verbs and check whether you know all of them.
Phrasal Verb Meaning
Example
account for
apply for

I hope you can account for the money you spent!


He applied for the job he saw advertised in the newspaper.

call back
call off
check in

explain, give a reason


make a formal request for
something (job, loan etc.)
be summarized as
become exhausted from overworking
return a phone call
cancel
register at a hotel or airport

check out

pay one's bill and leave (a hotel)

close down

stop operating (company,


restaurant, cinema)
handle, take care of (problem,
situation)
write (contract, agreement,
document)
reduce, become less severe or
slow down (pain, traffic, work)
complete (a form/an application)
concentrate on something
have a good relationship with

boil down to
burn out

deal with
draw up
ease off
fill out
focus on
get on (well)
with (sb)
hand in
hold on
look forward
to
put off
pick up
shop around
take on

The problem boils down to a lack of money.


Tom will burn himself out if he doesn't slow down.
I'll call you back as soon as possible.
The meeting was called off because of the strike.
For security reasons you have to check in two hours before your
flight.
Is Mr. Blair still at the hotel?
No, he checked out this morning.
When the factory closed down, the employees lost their jobs.
The manager is good at dealing with difficult customers.
An agreement was drawn up and signed by the two parties.
After Christmas the workload generally eases off.
Please fill out the enclosed form and return it as soon as possible.
The advertising campaign will focus on the quality of the product.
I get on very well with my colleagues.

wait
await or anticipate with pleasure

All application forms must be handed in before the end of the


month.
'Hold on please. I'll put you through to Mr. Brown."
I look forward to seeing you soon.

postpone, arrange a later date


collect somebody
compare prices
hire or engage staff

The meeting was put off because of the strike.


I'll pick you up at the station when you arrive.
It's always wise to shop around before buying anything.
Business is good so the company is taking on extra staff.

submit (report, homework)

b) Choose the right preposition to form phrasal verbs related to business.


1. This firm has taken _____ three companies this year. (acquire)
a) back

b) off

c) for

d) about

e) over

d)for

e)over

d) on

e) up

2. We look _____ to your answer. (as in letters)


a) up

b) forward

c)down

3. She plans to set _____ her own business.


a) back

b) in

c) into

4. Buying that car must have set you _____ a lot of money.
a) for

b) back

c) in

d) down
161

e) offr

5. The company has been forced to lay _____ several thousand employees.
a) back

b) up

c) on

d) off

e) in

6. The shop manager knocked $5 _____ because the shoes had no shoe-laces.
a) back

b) off

c) in

d) of

e) for

d) in

e) to

7. How do you intend to deal _____ this problem?


a) back

b) on

c) with

8. He's come up _____ some brilliant scheme to triple his income.


a) with

b) to

c) off

d) in

e) for

d) forward

e) to.

9. A good manager is not so easy to come _____.


a) back

b) by

c) for

10. Could you carry _____ with the arrangements for the consultation meeting?
a) back

b) up

c) on

d) off

e) in

11. Ask Billy to get in touch _____ (I) Fred Gooch from the union and sort _____ a date for
the meeting.
(I)

a) back

b) on

c) with

d) in

e) to

(II)

a) out

b) in

c) on

d) with

e) to

12. Talk to Steve and find _____ what sort of format he thinks the meeting should have.
a) in

b) on

c) to

d) put

e) with

d) off

e) in

13. Could you draw _____ the contract, please?


a) back

b) up

c) on

14. I'll ring you next Friday to see how you're getting _____.
a) in

b) on

c) to

d) out

e) with

d) off

e) in

d) in

e) for

15. He turned _____ at 9.30, on time. (arrive)


a) back

b) up

c) on

16. Please finish _____ the accounts. (complete)


a) with

b) to

c) off

17. He set _____ a meeting with his boss to discuss his ideas.
a) back

b) in

c) into

d) on

e) up

18. The drug company is working _____ a new generation of Prozac-style drugs.
a) back

b) in

c) into

d) on

e) up

19. The new leader will have to deal with the companys financial problems.
a) in

b) on

c) to

d) out

162

e) with

EXERCISE 10.
Order the lines of this conversation.
Great! By the way, Brigitte, Id like you to meet Lisa Kelly, from our Dublin office.
Not all bad I hope!
Hello, Lisa. Nice to meet you at last. Ive heard a lot about you.
Absolutely. Im very well, thanks.
And hows business.
Were having an excellent year.
Not at all. Its good to put a face to a name.
Oh, hi Brigitte. Sorry, I didnt recognize you. Your hairs different. Im fine. What about you?
Brigitte Hello, Marie. How are you? Its Brigitte. We met in Zurich last year.
Marie ______________________________________________________________________
Brigitte ____________________________________________________________________
Marie ______________________________________________________________________
Brigitte ____________________________________________________________________
Marie ______________________________________________________________________
Brigitte_____________________________________________________________________
Lisa _______________________________________________________________________
Brigitte ____________________________________________________________________
Lisa _______________________________________________________________________

163

EXERCISE 11.
Answer the following questions.

Unit 6, Entertaining
What does the saying ''there's no such thing as a free lunch'' mean?
Imagine you have to entertain a group of foreign business people. Which activities would
you choose?
What is Corporate Entertainment? Explain why it is important and provide examples of
it.
Why is small talk important? What are some good questions you can ask a person to
break the ice? What are appropriate subjects for small talk and what are not so
appropriate?
Case study: what do you have to keep in mind when organizing a conference? Explain
your choice of hotel for VMI's conference.

164

LIST OF WORDS COVERED IN ENGLISH FOR BUSINESS 1


ABSENTEEISM, noun (5)
ACHIEVEMENT, noun (5)
ACTION PLAN, noun (5)
ADMIN, noun (1)
ADMINISTRATION, noun (1)
AFTER-SALES, adjective (2)
AGENDA, noun (2)
AGM, see ANNUAL GENERAL MEETING (6)
ANNUAL GENERAL MEETING, noun (6)
APPLICANT, noun (1)
APPLY, verb (1)
APPOINT, verb (1)
B2B, adjective (2)
B2C, adjective (2)
B2G, adjective (2)
BARGAIN, noun (2)
BENEFIT, noun (1)
BETA TEST, noun (4)
BONUS, noun (1)
BOOM, noun (6)
BOUTIQUE, noun (2)
BRAINSTORMING, noun (4)
BREAK DOWN; BREAK STH DOWN, verb (3)
BREAKTHROUGH, noun (4)
BRICK(S)-AND-MORTAR, noun (2)
BROWSE, verb (2)
BULK, adjective (2)
BURN (YOURSELF/SB) OUT, verb (5)
BURNOUT, noun (5)
CAREER, noun (1)
CAREER BREAK, noun (1)
CAREER CHANGE, noun (1)
CAREER LADDER, noun (1)
CAREER MOVE, noun (1)
CEO, see CHIEF EXECUTIVE OFFICER (3, 6)
CHAIN STORE, noun (2)
CHALLENGING, adjective (5)
CHIEF EXECUTIVE OFFICER, noun (3)
CLICKS AND MORTAR (2)
CLOCK IN, verb (1)
CLOCK OUT, verb (1)
COMMERCIAL, noun (4)
COMPANY, noun (3)
COMPETITION, noun (3)
COMPETITIVE, adjective (2)
CONCESSION, noun (2)
CONFERENCE, noun (6)
CONVENIENCE STORE, noun (2)
CONSUMER DEMAND, noun (4)
CONTINUOUS IMPROVEMENT, noun (4)
CONVENTION, noun (6)
COOLING-OFF PERIOD, noun (2)
CORNER SHOP/STORE, noun (2)
CORPORATE, adjective (6)
CORPORATE CULTURE, noun (3)
CORPORATE HOSPITALITY, noun (6)

CORPORATE VENTURING, noun (4)


CORPORATION, noun(3)
COST-EFFECTIVE, adjective (6)
CUISINE, noun (6)
COUNSELLOR, noun (5)
COUNTER-SERVICE, adjective (2)
COURSE, noun (6)
COURT, noun (6)
COVER LETTER, noun (1)
COVERING LETTER, noun (1)
CURRICULUM VITAE, noun (1)
CUSTOMER-FOCUSED, adjective (3)
CUT-THROAT, adjective (2)
CUTTING EDGE, noun (4)
DEAL, noun (6)
DEALERSHIP, noun (4)
DECLINE, noun (6)
DELAY, noun (3)
DELAYERING noun (3)
DELAYER, verb (1)
DELICATESSEN/DELI, noun (2)
DELIVERY, noun (2)
DEMOTIVATE, verb (3)
DEPARTMENT STORE, noun (2)
DISCOUNT, noun (2)
DISMISS, verb (1)
DISPATCH, verb (2)
DIV, see DIVIDEND (3) (abbr)
DIVIDEND, noun (3)
DOOR-TO-DOOR, adverb (2)
DOWNSHIFT, verb (5)
DOWNSIZE, verb (1)
DRUGSTORE, noun (2)
DUAL PRICING, noun (2)
DULL, adjective (6)
E-COMMERCE, noun (2)
EMPLOY, verb (1)
EMPLOYEE, verb (1)
EMPLOYER, verb (1)
EMPLOYMENT AGENCY, noun (1)
ENCLOSE, verb (1)
ENCLOSURE, noun (1)
END-USER, noun (2)
ENTRANCE FEE, noun (4)
ENTREPRENEUR, noun (4)
ENVIRONMENTALLY-FRIENDLY, adjective (3)
E-RECRUITMENT, noun (1)
E-TAILER, noun (2)
ETIQUETTE, noun (2)
EXCHANGE, verb (2)
EXECUTIVE, noun (5)
FACILITY, noun (6)
FALLBACK, noun (2)
FIRE, verb (1)
FLEXITIME, noun (1)
FULL-TIME adjective, adverb (1)
165

EXPAND, verb (3)


FEATURE, noun (4)
GAFFE, noun (6)
GAP, noun (4)
GROCERY STORE, noun (2)
HANDMADE, adjective (3)
HARDWARE STORE, noun (2)
HEADHUNT, verb (1)
HEAD OFFICE, noun (3)
HIGH STREET, noun (2)
HIGH-TECH, adjective (4)
HIRE, verb (1)
HO, see HEAD OFFICE (3)
HYPERMARKET, noun (2)
IMPACT, noun(6)
IMPORTER, noun (2)
INCENTIVE, noun (6)
INNOVATION, noun (4)
INTRAPRENEUR, noun (4)
INVENTION, noun (4)
INVEST, verb (3)
IN BULK, idiom (2)
IN-HOUSE, adjective (1)
INTEGRATE, verb (2)
INTEREST-FREE, adjective (2)
JOB, noun (1)
JOB SATISFACTION, noun (5)
JOINT VENTURE, noun (2)
KAIZEN, noun (4)
LAY OFF, verb (1)
LEISURE, noun (6)
LIFESTYLE, noun (5)
LIST, verb (3)
LOYALTY, noun (6)
MAIL ORDER, noun (2)
MAJOR, adjective (5)
MANUFACTURE, verb (2)
MANUFACTURER, noun (2)
MAIN OFFICE, see HEAD OFFICE (3)
MARGIN, noun (2)
MARKET SHARE, noun (3)
MARKET, noun (4)
MEETING, noun (2)
MERCHANDISE, noun (2)
MERGE, verb (5)
MERGER, noun (5)
MONEY-BACK GUARANTEE, noun [(2)
NEED, noun (4)
NEGOTIATE, verb (2)
NEGOTIATOR, noun (2)
NETWORKING, noun (6)
NEWSSTAND, noun (2)
NOTICE, noun (1)
NICHE, noun (4)
OBJECTIVE, noun (6)
OBSOLETE, adjective (4)
OPPORTUNITY, noun (4)
OUTSTANDING, adjective (6)
OVERTIME, noun (1)

OVERWHELM, verb (5)


OVERWORK, verb (5)
OVERWORK, noun (5)
OVERWORKED, adjective (5)
PACKAGE HOLIDAY, noun (2)
PARTICIPANT, noun (6)
PART-TIME, adjective, adverb (1)
PATENT, noun (4)
PERFORMANCE-RELATED BONUS, noun (3)
PERK, noun (5)
PERMANENT, adjective (1)
PITCH, noun (6)
POSITION, noun (1)
POST, noun (1)
PRESSURE, noun (5)
PRESENTEEISM, noun (6)
PRODUCT RANGE, noun (2)
PROFESSION, noun (1)
PROFIT, noun (3)
PROFITABILITY, noun (3)
PROMOTION, noun (1)
PROPRIETARY, adjective (4)
PROTOTYPE, noun (4)
PUNCH IN, verb (1)
PUNCH OUT, verb (1)
PURCHASE, verb (2)
QUALIFICATION, noun (1)
QUALITY OF LIFE (5)
QUALITY OF WORKING LIFE (5)
QUALITY TIME, noun (5)
QUOTE, verb (3)
QUESTIONNAIRE, noun (5)
RAT RACE, noun (5)
RECAP, verb (6)
RECKON, verb (6)
RECRUIT, verb (1)
RECRUIT, verb (3)
RECRUITMENT, noun (1)
REDUNDANCY, noun (5)
REDUNDANT, adjective (1)
RELATIONSHIP, noun (6)
REMINISCENT, adjective (6)
REMOVE, verb (1)
RESEARCH AND DEVELOPMENT, noun (1)
RESIGN, verb (5)
RSUM, noun (1)
RETAIL, noun (2)
RETAILER, noun (2)
RETIREMENT, noun (1)
RETURN, noun (2)
RETURN ON INVESTMENT, noun (3)
REWARDING, adjective (5)
ROI, see RETURN ON INVESTMENT (3)
SACK, verb (1)
SALE, noun (2)
SALES REPRESENTATIVE, noun (3)
SATISFACTION, noun (5)
SCREEN, verb (1)
166

SELECTION, noun (1)


SELF-SERVICE , adjective (2)
SEMINAR, noun (6)
SENIOR, adjective (5)
SET SB BACK STH, verb (6)
SHARE, noun (3)
SHAREHOLDER, noun (3)
SHAREHOLDER VALUE, noun (3)
SHARE PRICE, noun (3)
SHIFT, noun (1)
SHUTTLE, noun (6)
SLOWDOWN, noun (3)
SKUNKWORKS, noun (4)
SMALL AND MEDIUM-SIZED ENTERPRISE,
noun (3)
SME, see SMALL AND MEDIUM-SIZED
ENTERPRISE (3)
SPACIOUS, adjective (6)
SPLIT UP, verb (6)
SPONSOR, noun (6)
SPONSOR, verb (6)
SPONSORSHIP, noun (3)
STATE OF THE ART, adjective (4)
STIMULATE, verb (5)
STIMULATING, adjective (5)
STOCK, noun (2)
STORAGE, noun (2)
STRESS, noun (5)
STRESSED, adjective (5)
STRESSFUL, adjective (5)
STRETCH, verb (5)
SUBSIDIARY, noun (1)
SUPERMARKET , noun (2)

SUPERVISE, verb (5)


SUPPLY, noun (3)
SUPPLY, verb (3)
TARGET, verb (4)
TARGET MARKET, noun (4)
TAKE ON SB, verb (1)
TEAM BUILDING, noun (6)
TELECOMMUTE, noun (1)
TELEWORKING, noun (1)
TEMPORARY, adjective (1)
TERMINATE, verb (1)
TIME OFF, noun (1)
TRAINING, noun (1)
TREADMILL, noun (5)
TREPIDATION, noun (6)
TURNOVER, noun (3)
UP TO DATE, adjective (4)
VACANCY, noun (1)
VENUE, noun (2)
VOCATION, noun (1)
WAREHOUSE, noun (2)
WAREHOUSE STORE, noun (2)
WHOLESALE, noun (2)
WHOLESALER, noun (2)
WINDOW-SHOPPING, noun (2)
WORK, noun (1)
WORK-FAMILY, adjective (5)
WORKFORCE, noun (1)
WORK-LIFE BALANCE, noun (5)
WORKLOAD, noun (5)
WORKSHOP, noun (6)

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BIBLIOGRAPHY
Books:
1. Adam, J.C. (ed). (2000). Longman Business English Dictionary. Harlow: Longman
2. Cotton et al. (2007). New Edition. Market Leader, Pre-intermediate, Course Book. Harlow:
Longman
3. Hill, Jimmie, and Michael Lewis, (ed.) (1999). Dictionary of Selected Collocations. Hove:
Language Teaching Publications.
4. Mascull, B. (2010). Business Vocabulary in Use. Cambridge: CUP
5. Mascull, B. (2007). New Edition. Market Leader, Pre-intermediate, Teachers Resource Book.
Harlow: Longman
6. McIntosh, C et al. (2009). Oxford Collocations Dictionary. Oxford: OUP
7. Parkinson, D. (ed.) and J. Noble (ed.) (2006). Oxford Business English Dictionary for Learners
of English. Oxford: OUP
8. Rogers, J. (2007). New Edition. Market Leader, Pre-intermediate, Practice File. Harlow:
Longman
9. Trappe, T. and G. Tullis (2005). Intelligent Business, Intermediate, Course Book. Harlow:
Longman
10. Various authors. (2007). Market Leader, Interactive, Pre-intermediate, Teachers guide. Harlow:
Longman

Web pages:
1. archives.cnn.com/2002/world/europe/10/18/biz.trav.cultural.etiquette/index.html
2. en.wikipedia.org
3. en.wikiquote.org
4. online-groceries-shopping.blogspot.com
5. positivesharing.com/2006/11/top-5-myths-about-workplace-stress/
6. quotes-motivational-inspirational.blogspot.com/2007/02/crazy-ideas-quotes-alfredwhitehead.html
7. springwise.com/retail/2008_this_year_top_10_retail
8. thinkexist.com/quotation/if_at_firstthe_idea_is_not_absurd_then_there_is/1801160.html
9. www.brainyquotes.com/quotes/d/davidogilv133098.html
10. www.businessdictionary.com
11. www.channel4.com/health/microsites/0-9/4health/stress/aas_whatis.html
12. www.deyalexander.com.au/resources/quotations/e-commerce. html
13. www.dim.uccu.org.au/files/mli_tg_u7.pdf
14. www.eslgold/business/useful_expressions/describing_jobs. html
15. www.ilex.org.uk/study.aspx
16. www.imageenvision/com/cliparts/business-person
17. www.ivillage.co.uk/workcareer/survuve/opolitics/articles/0,,156475_650932,00. html
18. www.longman.com
19. www.onelook.com
20. www.reference.com/browse/career
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21. www.school-portal.co.uk/GroupHomepage.asp?GroupID=834007
22. www.sgclark.com/2008/
23. www.thetimes100.co.uk/theory/theory--recruitment-selection--349.php
24. www.users.york.ac.uk/~aew6/Courses/People%20and%20Quality/mainpoint.html
25. www.wordlearner.com
26. www.worldofstock.com/closeups/PWO2082.php
All web pages were accessed from early 2008 to mid 2010

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