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1. Socialising
1. The Impact of Culture on Business
2. Telephoning
2. Telephoning across cultures
3. Presentations
3. Planning and preparation
4. Image, impact and making impression
5. The presentation
6. The end of the presentation
4. Meetings
7. Preparation for meetings
8. Participating in meetings
9. Ending the meeting
5. Negotiations
10. Know what you want
11. Getting what you can
12. Not getting what you don’t want
6. Management
13. What is management?
14. Types of managers
15. The management process
16. Management level and skills
7. Companies and organisations
17. Company structure
18. The external environment of organisations
8. Production and products
19. Just-in-time production
20. Products and brands
9. Marketing, advertising, promotion
21. The centrality of marketing
22. How companies advertise
23. The four major promotional tool
10. Market structure and competition
24. Market leaders, challengers and followers
25.Takeovers, mergers and buyouts
26. Profits and social responsibility
11. Money and finance

27. A history of money – what makes the world goes round
28. The profits of labour
29. Accounting and financial statements
30. Exchange Rates
12. Banking and taxation
31. Types of banks
32. Opening an account and means of payment
33. Banking – Key words and sentences
34. Taxation and how to avoid it
13. Stock market
35. Stocks and shares
36. Bonds
37. Futures, options and swaps
• Glossary
• Cheia exerciŃiilor

Verbe modale I – formă şi utilizare; ExerciŃii
Verbe modale II – formă şi utilizare; ExerciŃii
Infinitivul – formă şi utilizare; ExerciŃii
Formele în Ing – utilizare; ExerciŃii
Verbe care primesc infinitive sau forma în –Ing; ExerciŃii
Verbe complexe – formă şi utilizare; ExerciŃii
Vorbirea indirectă – formă şi utilizare; ExerciŃii
PrepoziŃii, ConjuncŃii – formă şi utilizare; ExerciŃii
Substantivul – formă şi utilizare; ExerciŃii
Articolul – formă şi utilizare; ExerciŃii
Adjectivul – formă şi utilizare; ExerciŃii
Pronumele – formă şi utilizare; ExerciŃii
Adverbul – formă şi utilizare; ExerciŃii



Cotton, David – Keys to management, Longman, 1996
Cotton, David; Robbins, Sue – Business Class, Nelson English
Language Teaching, London, 1993
MacKenzie, Ian – English for Business Studies, Cambridge
University Press, 2001
Sweeney, Simon – English for Business Communication,
Cambridge University Press, 2000
Chiriacescu, Adriana; Mureşan, Laura; Barghiel, Virginia;
Hollinger, Alexander – CorespondenŃă de afaceri în limbile
română şi engleză, Editura Teora, Bucureşti, 1995
Geoghegan, C.G.; Geoghegan, J.Y. – Engleza pentru negocieri,
Editura Teora, Bucureşti, 2000
Roland, Marie-Claude; Mast-Grand, Martha – CV în limba
engleză, un pas spre angajare, Editura Teora, Bucureşti, 2000
Dayan, A.; Lindsay, W.H.; Janakiewicz, A.; Marcheteau, M. –
Engleza pentru marketing şi publicitate, Editura Teora, Bucureşti,
Bantaş, Andrei; PorŃeanu, Rodica – Limba engleză pentru ştiinŃă
şi tehnică, Editura Niculescu, Bucureşti, 1995
Laun, Flavia E. – Birotics and Telecommunication Explanatory
Dictionary, Editura Dacia, Cluj-Napoca, 1996
Mănăilă, D.; Popa, C.; Popa, D.; Popescu, I.M.; Vlad, V.I. – Mic
dicŃionar poliglot de fizică, tehnică şi matematică, Editura Acora
Press, Bucureşti, 1995
Le Divenach, Éloi – Engleza în presă, Editura Teora, Bucureşti,
Marcheteau, Michel – Berman, Jean-Pierre – Savio, Michel,
Engleza comercială în 40 de lecŃii, Editura Niculescu, Bucureşti,


1. Socialising

• Reading
The following text is about cultural diversity. Read it through once
and decide which of the three statements (A, B or C) given below the
extract offers the most accurate summary.

1. The Impact of Culture on Business
Take a look at the new breed of international managers,
educated according to the most modern management philosophies.
They all know that in the SBU, TQM should reign, with products
delivered JIT, where CFT’s distribute products while subject to MBO.
(SBU = strategic business unit, TQM = total quality management, JIT
= just-in-time, CFT = customer first team, MBO = management by
But just how universal are these management solutions? Are
these ‘truths’ about what effective management really is, truths that
can be applied anywhere, under any circumstances?
Even with experienced international companies, many wellintended ‘universal’ applications of management theory have turned
out badly. For example, pay-for-performance has in many instances
been a failure on the African continent because there are particular,
though unspoken, rules about the sequence and timing of reward and
promotions. Similarly, management by objectives schemes have
generally failed within subsidiaries of multinationals in southern
Europe, because managers have not wanted to conform to the abstract
nature of preconceived policy guidelines.
Even the notion of human-resource management is difficult to
translate to other cultures, coming as it does from a typically AngloSaxon doctrine. It borrows from economics the idea that human
beings are ‘resources’ like physical and monetary resources. It tends
to assume almost unlimited capacities for individual development. In
countries without these beliefs, this concept is hard to grasp and
unpopular once it is understood. International managers have it tough.

They must operate on a number of different premises at any one time.
These premises arise from their culture of origin, the culture in which
they are working, and the culture of the organization which employs
In every culture in the world such phenomena as authority,
bureaucracy, creativity, good fellowship, verification and
accountability are experienced in different ways. That we use the same
words to describe them tends to make us unaware that our cultural
biases and our accustomed conduct may not be appropriate, or shared.
SBU = strategic business unit = unitate comercială, economică
TQM = total quality management = managementul total al calităŃii
JIT = just-in-time = livrare exact la momentul potrivit
CFT = customer first team =
MBO = management by objectives = managementul pe obiective
pay-for-performance = plată pentru munca depusă
human-resource management = managementul resurselor umane
at any one time = în fiecare moment
premises = premise, locaŃii
grasp = a pricepe, a înŃelege (în text)
accountability = răspundere
bias = tendinŃă, orientare

A. There are certain popular universal truths about management
which can successfully be applied in various cultural contexts.
B. Cultures are so varied and so different throughout the world that
management has to take account of differences rather than simply
assume similarities.
C. Effective management of human resources is the key to everyone
achieving their full potential.

Language Checklist
Cultural diversity and socializing
Welcoming visitors
Welcome to …
My name’s …

Hello. My name’s … from …
I’ve an appointment to see …
Sorry – I’m a little late / early.
My plane was delayed…
Introducing someone
This is … He/she’s my Personal Assistant.
Can I introduce you to … He/she’s our (Project Manager).
I’d like to introduce you to …
Meeting someone and small talk
Pleased to meet you.
It’s a pleasure.
How was your trip? Did you have a good flight / trip / journey?
How are things in (London)?
How long are you staying in (New York)?
I hope you like it.
Is your hotel comfortable/
Is this your first visit to (the Big Apple)?
Offering assistance
Can I get you anything?
Do you need anything?
Would you like a drink?
If you need to use a phone or fax, please say.
Can we do anything for you?
Do you need a hotel / a taxi / any travel information / etc.?
Asking for assistance
There is one thing I need …
Could you get me …
Could you book me a car / taxi / hotel / …?
Could you help me arrange a flight to…?
Can you recommend a good restaurant?
I’d like to book a room for tomorrow night.
Can you recommend a hotel?


Skills Checklist
Cultural diversity and socializing
Before meeting business partners and fellow professionals from other
countries, you could find out about their country:
• The actual political situation
• Cultural and regional differences
• Religion(s)
• The role of women in business and in society as a whole
• Transport and telecommunications systems
• The economy
• The main companies
• The main exports and imports
• The market for the industrial sector which interests you
• Competitors
You might also want to find out:
• Which topics are safe for small talk
• Which topics are best avoided
If you are going to visit another country, find out about:
• The conversations regarding socializing
• Attitudes towards foreigners
• Attitudes towards gifts
• The extent to which public, business and private lives are mixed
or kept separate
• Conventions regarding food and drink.
You might also like to find out about:
• The weather at the relevant time of the year
• Public holidays
• The conventions regarding working hours
• Leisure interests
• Tourism
• Dress
• Body language
• Language.

Practice 1
Make a dialogue based on the following flow chart. If you need
help, look at the Language Checklist


Introduce yourself
Say you have an appointment
with Sandra Bates.

Welcome visitor.
Explain that SB will be
along shortly.
Offer a drink / refreshments.

Decline – ask if you can
use a phone.
Say yes / Offer fax as well.
Decline – you only need
the phone.
Show visitor to the phone.
Thank him/her.
(a few minutes later)
Thank assistant.
Reply – offer any other help.
Ask how far it is to station.
Two miles – ten minutes
by taxi.
Offer to book one.
Accept offer – suggest a time.
Promise to do that – say that
SB is free now.
Offer to take him/her to SB’s
• About small talk
If you ask a question you should comment on the answer or ask a
supplementary question.

Exercise 1 First words
Often the first words are the most difficult. Below are some
suggestions for ‘breaking the ice’. Which of the sentences could be
said by a visitor, and which by the person receiving the visitor?
a. Sorry, I’m a little early. I hope it is not inconvenient.
b. Is the weather the same in your country?
c. Sorry to keep you waiting. I was rather tied up just now.
d. I’m pleased to be here, after a trip like that!
e. Is this your first visit? What do you think of the city?
f. People are very helpful here. On my way to meet you…
g. Isn’t it cold today?
h. You found us without too much difficulty, then?
i. It’s good of you to spare the time.
j. It’s kind of you to come all this way.
k. I like your offices. Have you been here long?
l. Did you have a good trip?
m. Would you like a cup of coffee?

Exercise 2 Ending the small talk
If the small talk continues too long, you may want to change the
subject to business matters. Here are some ways of doing it.
A. With someone you know well:
Let’s get down to business. Or let’s get started.
B. With someone you don’t know well:
Perhaps we could talk about the subject of our meeting.
Perhaps we could talk about the reason I’m here.
Which expressions would you use in the following situations?
a. On a sales visit to a potential customer.
b. At a weekly planning meeting with colleagues.
c. At your first meeting with the new group auditors.
d. At a meeting to obtain finance from a bank.
e. Before making a speech at an office party.


2. Telephoning


2. Telephoning across cultures
Many people are not very confident about using the telephone
in English. However, good preparation can make telephoning much
easier and more effective. Then, once the call begins, speak slowly
and clearly and use simple language.
Check that you understand what has been said. Repeat the
most important information, look for confirmation. Ask for repetition
if you think it is necessary.
Remember too that different cultures have different ways of
using language. Some speak in a very literal way so it is always quite
clear what they mean. Others are more indirect, using hints,
suggestions and understatement (for example ‘not very good results’ =
‘absolutely disastrous’) to put over their message. North America,
Scandinavia, Germany and France are ‘explicit’ countries, while the
British have a reputation for not making clear exactly what they mean.
One reason for this seems to be that the British use language in a more
abstract way than most Americans and continental Europeans. In
Britain there are also conventions of politeness and a tendency to
avoid showing one’s true feelings. For example if a Dutchman says an
idea is ‘interesting’ he means that it is interesting. If an Englishman
says that an idea is ‘interesting’ you have to deduce from the way he
says it whether he means it is a good idea or a bad idea.
Meanwhile, for a similar reason Japanese, Russian and Arabs
– ‘subtle’ countries – sometimes seem vague and devious to the
British. If they say an idea is interesting it may be out of politeness.
The opposite of this is that plain speakers can seem rude and
dominating to subtle speakers, as Americans can sound to the British –
or the British to the Japanese.
The British have the tendency to engage in small talk at the
beginning and end of a telephone conversation. Questions about the
weather, health, business in general and what one has been doing
recently are all part of telephoning, laying a foundation for the true
purpose of the call. At the end of the call there may well be various
pleasantries, Nice talking to you, Say hello to the family (if you have

met them) and Looking forward to seeing you again soon. A sharp,
brief style of talking on the phone may appear unfriendly to a British
partner. Not all nationalities are as keen on small talk as the British!
Being aware of these differences can help in understanding
people with different cultural traditions. The difficulty on the
telephone is that you cannot see the body language to help you.

Choose the closest definition of the following words from the text.
1. literal
a. direct and clear b. full of literary style c. abstract and
2. understatement
a. kind words
b. less strong way of talking
c. clever
3. deduce
a. reduce b. work out
c. disagree
4. vague
a. unclear b. unfriendly c. insincere
5. devious
a. rude
b. dishonest
c. clever
6. pleasantries
a. question b. request
c. polite remarks

Language Checklist
Telephoning (1)
Introducing yourself
Good morning, Aristo.
Hello, this is … from …
Hello, my name’s … calling from …
Saying who you want
I’d like to speak to … please.
Could I have the … Department, please?
Is… there, please?

Saying someone is not available
I’m sorry he/she’s not available …
Sorry, he/she’s away / not in / in a meeting / in Milan.
Leaving and taking messages
Could you give him/her a message?
Can I leave him/her a message?
Please tell him/her …
Please ask him/her to ring me on…
Can I take a message?
If you give me your number I’ll ask him/her to call you later.
Offering to help in other ways
Can anyone else help you?
Can I help you perhaps?
Would you like to speak to his assistant?
Shall I ask him to call you back?
Asking for repetition
Sorry, I didn’t catch (your name / your number / your company name )
Sorry, could you repeat your (name, number, etc.).
Sorry, I didn’t hear that.
Sorry, I didn’t understand that.
Could you spell (that / your name), please.
Acknowledging repetition
Okay, I’ve got that now.
(Mr. Kyoto) I understand.
I see, thank you.

Skill Checklist
Telephoning: Preparation for a call
Reading – background information
Desk preparation
Have the following available:
• Relevant documentation / notes
• Correspondence received
• Computer files on screen
• Pen and paper
• Diary

Check time available
• How much time do you need?
• How much time do you have?
• Who do you want to speak to?
• In case of non/availability, have an alternative strategy:
• Call back / be called back – when?
• Leave a message
• Speak to someone else
• Write or fax information
Do you want to:
• Find out information?
• Give information?
Do you need to refer to:
• A previous call?
• A letter, order, invoice or fax?
• Someone else (who?)
• An event (what? When?)
What do you expect the other person to say / ask you? how will you

Exercise 1 Making a call
A few common expressions are enough for most telephone
conversations. Practice these telephone expressions by completing
the following dialogue using the words listed below.

Conglomerate Group; can I help you?
Could I ------ ------- Mr. Pardee, please?
Putting you ------ .
Hello, Mr. Pardee’s ------ . -------- I help you?




------, can you hear me? It’s a ------ line. Could you ------ up, please?
IS THAT BETTER? Who’s --------, please?
(your name) from (your company).
Oh, hello. How nice to hear from you again. We
haven’t seen you for ages. How are you?
Fine thanks. Could you ------- me -------- to Mr.
Pardee, please?
-------- the line a moment. I’ll see if he’s in. I’m sorry,
I’m afraid he’s not in the ------- at the ------ . Could
you give me your ----------, and I’ll ask him to ------you ---------- ?
I’m ----- 347 8621. That’s London.
Would you like to leave any -------- for him?
No thanks. Just tell him I --------- .
Certainly. Nice to hear from you again.
I’ll expect him to ------- me this afternoon, then.
You’re welcome. Goodbye.

speak to



Note: If you do not hear or understand the other person, say: I’m
sorry? or I’m sorry, I don’t understand. It is not polite to
say: Please repeat!

DATAFILE: The Telephone

This datafile gives you many of the terms and phrases commonly used
in making telephone calls.

The directory
Look up their number in the directory. (UK).
I’ll look up the number in the telephone book. (US).
The number is ex-directory. (UK).
The number is unlisted. (US).
I’ll ring Directory Enquiries. (UK).
I’ll ring information. (US).
The receiver
Can I help you?
Putting you through.
I’m afraid he’s not available at the moment. (UK).
I’m afraid he’s tided up at the moment.
You’re welcome. Goodbye.
The line
He’s on the other line.
Would you like to hold the line?
The line is engaged. (UK).
The line is busy. (US).
The operator (in the public telephone system)
Dial 100 for the operator. (UK).
Dial 0 (zero) for the operator. (US).
I’d like to make a reverse charge call. (UK).
I’d like to make a collect call. (US).
I’d like to make a transfer charge call. (UK).
The dial
Dial 123 for the correct time. (UK).
Listen for the dialling tone.
All lines to the country you have dialled are engaged.
Please try later. (UK).
The codebook
I’m on a long distance (or international) call.
The STD code is … (UK).
The area code is … (US).
A message pad
Can I tell him who called?
Can I give her a message?
Let me take down your number.
• Remember
If you do not understand, say… “Sorry, I didn’t quite catch that.”

Practice 1
Use the following flow chart to make a complete telephone
conversation. If you need to, refer to the Language Checklist.

‘Good morning, Gorliz and

Introduce yourself.
Ask to speak to Mr. Conrad Bird.
Mr. Bird is not in.
Ask when you can contact him.
Explain that he is away –
offer to take a message.
You want Mr. Bird to call you.
Repeat your name.
Give your number.
Confirm the information.
End call.
End call.

Practice 2
In the following conversation, a Singaporean exporter plans to
send goods from Singapore to Greece. He wants to have a meeting
with a Greek shipping company, Intership.
Suggest suitable phrases for each step in the conversation, then
practice the dialogue with a colleague.

Caller (Computech)

Called Person (Intership)
‘Intership, good morning.’

Introduce yourself.
Check name.

Confirm / correct.
Offer to help.
Ask for appointment
with Mr. Dionis.
Ask what it’s about.
Explain that you want
to discuss transport of goods
from Singapore to Athens.
Acknowledge – ask when
would be a good time.
Suggest next week.
Reject – Mr. Dionis is away.
Suggest beginning of next
Suggest Monday 3rd.
Reject – On Monday Mr.
Dionis is busy all day.
Suggest Tuesday.
Agree. Suggest 10.00 a.m.
Agree – ask for fax to
Offer to book hotel.
Agree to fax – hotel booking
is not necessary.
Signal end of call.
End call / thanks / refer to
fax, etc.
End call.

Language Checklist
Telephoning (2)
Stating reason for a call
I’m ringing to …
I’d like to …
I need some information about …

Making arrangements
Could we meet some time next month?
When would be a good time?
Would Thursday at 5 o’clock suit you?
What about July 21st?
That would be fine.
No, sorry, I can’t make it then.
Sorry I’m too busy next week.
Changing arrangements
We’ve an appointment for next month, but …
I’m afraid I can’t come on that day.
Could we fix an alternative?
Confirming information
Can I check that? You said …
To confirm that …
Can you / can I confirm that by fax?
Ending a call
Right. I think that’ all.
Thanks very much for your help.
Do call if you need anything else.
I look forward to … seeing you / your call / your letter / your fax / our
Goodbye and thanks.
Bye for now.

Skills Checklist
Telephoning (2)
• Speed
• Clarity
• Volume

• Background information
• Key information
• Repetition, emphasis and confirmation
• Possible confirmation by fax
• Formal / informal
• Cold call / new contact / established contact
• In-company vs. Customer / Supplier / Outside agent
• Colleague / friend / business associate / public
• Company image
Structure of a call
Introduce yourself
Get who you want
Small talk
State problem / reason for call
Ask questions
Get / give information
Confirm information
Signal end
Thank other person
Small talk
Refer to next contact
Close call
Check that there’s nothing else to say

Exercise 2 Changing arrangements
It is not always possible to follow your original plans. You, or your
contact, may want to change an appointment.

Language input

To apologize, say: I’m afraid that ….
I’m sorry but …
To suggest another time, say: Could I suggest …?
What about …?
Perhaps …?
Below is the schedule for your week in Sydney, Australia. Just before
you leave for Sydney you receive various telephone calls from the
people you are going to visit. They want to change their appointments.
But you do not want to change the order in which you visit them. First
apologize for not managing the day they suggest, then suggest a
different time on the original day. Here you have their calls:
Hello? Mr. Rossi? This is the Australian Chemical Bank. I’m Mr.
Whitle’s secretary. I understand you have an appointment for 10 a.m.
on Tuesday 13th. I’m afraid that Mr. Whitley is rather tied up them.
Could I suggest Monday instead?
Yes, I’m sure that will be OK.
Hello, Mr. Rossi? Tim Brown, your agent. Small problem. Our
meeting for Friday is all right, but Monday afternoon is likely to be
difficult; someone is coming to see us who might be a useful outlet for
some of your range. perhaps we could change our meeting to Tuesday
Yes, OK. Right, that’s fine.
Mr. Rossi? It’s Jenny Kinsella here. From B.I.G. I’m sorry but my
colleagues can’t all make it on Thursday afternoon. Could I suggest
we meet on Tuesday instead?
Er… yes… why not? OK … Well, thank you very much.
Hello again, Tim Brown here again. I forgot; I have some other
customers visiting on Friday morning. How about a meeting on
Thursday sometime, if that’s all right with you?


Right. Sorry to be difficult. Thanks a lot, Mr. Rossi. Bye now.
Mr. Rossi? Good morning. I’m ringing for Mr. Lund of Lund and
Lund Associates. He’s very sorry, but he won’t be able to manage
Wednesday afternoon. Could I suggest Friday afternoon instead?
Well, I think that should be all right. I’ll give you a cal this afternoon
to confirm. Thank you. Goodbye.

Monday, 12 November
Arrive Sydney airport 8.30 a.m.
3 p.m. Tim Brown (agent) at hotel
Tuesday, 13 November
10 a.m. Mr. Whitley, Australian Chemical Bank
Wednesday, 14 November
2 p.m. Lund & Lund Associates (Mr. William Lund)
Thursday, 15 November
3 p.m.




Friday, 16 November
11 a.m. Tim Brown
flight 390, Depart Sydney 6 p.m.




Practice 3
Use the flow chart below as the basis for a telephone conversation
involving a complaint. Refer to the Language Checklist if you
need to.
Berraondo S.A.

Tao Loon Company
(Sales Office)

Introduce yourself.
Offer to help.
Explain problem.
Order HF5618 for 20 printers.
Only 17 have arrived.
Express surprise.
This is second time you have
received an incomplete delivery.
Suggest possible error in
order administration.
Agree – say you need the
other three printers urgently.
Delays are costing you goodwill –
unhappy customers.
Explain stock problems.
Ask for a promise of delivery
date – ASAP.
Promise next Monday.
Complain – you want despatch now.
Express regret – not possible.
Ask for fax to confirm despatch.
Agree – apologize.
End call.


Language Checklist
Telephoning (3)
Stating reason for the call
I’m calling about …
Unfortunately, there’s a problem with …
I’m ringing to complain about …
Explaining the problem
There seems to be …
We haven’t received…
The … doesn’t work.
The quality of the work is below standard.
The specifications are not in accordance with our order.
Referring to previous problems
It’s not the first time we’ve had this problem.
This is the (third) time this has happened.
Three months ago…
We had a meeting about this and you assured us that…
If the problem is not resolved…
We’ll have to reconsider our position.
We’ll have to renegotiate the contract.
We’ll contact other suppliers.
The consequences could be very serious.

Handling complaints and other problems
Asking for details
Could you tell me exactly what …?
Can you tell me …?
What’s the …?
I’m sorry to hear that.
I’m sorry about the problem / delay / mistake…

Denying an accusation
No, I don’t think that can be right.
I’m sorry but I think you’re mistaken.
I’m afraid that’s not quite right.
I’m afraid that can’t be true.

Skills Checklist
Telephoning (3)
If you receive a complaint:
• Consider your company’s reputation
• Express surprise
• Ask for details
• Suggest action
• Promise to investigate
• Make reasonable suggestions, offers to help.
Consider your customer and:
• Show polite understanding
• Use active listening
• Reassure customer.
If you make a complaint:
• Prepare for the call
• Be sure of the facts
• Have documentation available
• Decide what you require to resolve the problem – at least partially
– or completely.
Who is to blame?
Who is responsible?
Are you talking to the right person?
Was your order or your specifications correct?
Were you partly responsible for arrangements which went wrong, e.g.
Does responsibility actually lie elsewhere, i.e. with a third party?

If you do not get what you want:
• Keep control – state what you need calmly
• Do you need to continue to do business with the other side?
• If you do, keep a good relationship
• Express disappointment – not anger
• Don’t use threats – unless you have to!

Read the text, then mark the sentences that follow as True (T)
or False (F).

In some countries, like Italy and Britain, conversation is a
form of entertainment. There is an endless flow and if you break the
flow for a second someone else will pick it up. In other countries there
is a higher value placed on listening – it is not only impolite to break
in but listeners will consider what has been said in silence before
responding. Finland and Japan are examples.
If you are talking to people who are also speaking English as a
foreign language, they are likely to leave gaps and silences while they
search for words or try to make sense of what you have just said. So
be patient and try not to interrupt, as you would hope they would be
patient with you.
Every country has its own codes of etiquette. For example it is
common for Anglo-Saxons to use first names very quickly, even in a
letter of fax or telephone call. Such instant familiarity is much less
acceptable in the rest of Europe and Asia where even business
partners and colleagues of many years’ acquaintance address each
other by the equivalent of Mr. or Mrs. And the last name or job title.
So stick to last names unless you specifically agree to do
otherwise. Don’t interpret the other person’s formality as stiffness or
unfriendliness. On the other hand, if business partners with an AngloSaxon background get on to first name terms straightaway, don’t be
Above all, one should remember that people do not usually
mind if their own codes are broken by foreigners as long as they sense
consideration and goodwill. This is much more important than a set of
rules of etiquette.


a. For the British and the Italians it is normal to interrupt the other
speaker during the conversation.
b. A special importance is attached to listening in Japanese and
Finnish cultures.
c. One should interrupt and try to help speakers who may have
difficulty in saying what they want to say.
d. It is unusual for Americans and British to use first names early in a
business relationship.
e. It doesn’t matter if you break certain social rules if it is clear that
you are sensitive to other people.
f. Etiquette is the critical point in telephoning between different

3. Presentations
3. Planning and preparation
Language Checklist
Structure (1) The introduction to a presentation
Good morning / afternoon ladies and gentlemen.
(Ladies and) Gentlemen …
I plan to say a few words about …
I’m going to talk about …
The subject of my talk is …
The theme of my presentation is …
I’d like to give you an overview of …
I’ve divided my talk into (three) parts.
My talk will be in (three) part.
I’m going to divide …
First …
Second …
Third …
In the first part …

Then in the second part…
My talk will take about ten minutes.
The presentation will take about two hours … but there’ll be a twentyminute break in the middle. We’ll stop for lunch at 12 o’clock.
Policy on questions / discussion
Please interrupt if you have any question.
After my talk there’ll be time for a discussion and any questions.
Skills Checklist
Effective presentations – planning and preparation
• Expectations
• Technical knowledge
• Size
• Questions and / or discussion
Speaker’s competence
• Knowledge
• Presentation technique
• What to include
• Length / depth (technical details)
• Number of key ideas
• Sequence
beginning, middle, end
• Repetition, summarizing
• Style
Formal / informal
Enthusiasm / confidence

Variety / speed
Body language
Eye contact
Gesture / movement

Visual aids
• Type / design / clarity
• Relevance
• Tape recorder
• Script or notes
• Size / seating
• Equipment (does it work?)
• Sound quality
• Simple / clear
• Spelling
• Sentence length
• Structure signals
Practice 1
Look at the following situations.
A medical congress in Tokyo with papers
on new techniques in open heart surgery.
The Purchasing and Product Manager of
a Taiwanese company interested in buying
some production equipment from your company.


An internal meeting of administrative
staff to discuss a new accounting procedure.
A staff meeting to discuss a charity event for
earthquake victims.

Imagine you have to give a brief presentation in two of the above
situations. Make brief notes on the following:
a. Will your talk be formal or informal?
b. What are the audience’s expectations in terms of technical detail,
expertise, etc.?
c. What is the audience’s probable level of specialist knowledge?
Are they experts or non-experts?
d. How long will your talk be: five minutes, twenty minutes, half an
hour, or longer?
e. What is your policy on questions? Will the audience interrupt or
will they ask questions afterwards? Will there be any discussion?
f. How will you help the audience to remember what you tell them?

Practice 2
In any presentation the beginning is crucial. Certainly some things
are essential in an introduction and others are useful. Here is a list
of what could be included in an introduction. Mark them
according to how necessary they are using the following scale:




Not necessary

Subject / title of talk.
Introduction to oneself, job title, etc.
Reference to questions and / or discussion.
Reference to the programme for the day.
Reference to how long you are going to speak for.
Reference to the visual aids you plan to use.
The scope of your talk: what is and is not included.
An outline of the structure of your talk.
A summary of the conclusions.

• Reading
Read the text below and find:
a. eight advantages of using visual aids
b. three warnings about using visual aids
4. Image, impact and making an impression
Dinckel and Parnham (1985) say that ‘The great danger (in
using visual aids) is that presenters place the major emphasis on visual
aids and relegate themselves to the minor role of narrator or
technician. You are central to the presentation. The visual aid needs
you, your interpretation, your explanation, your conviction and your
Visual aids can make information more memorable and they
help the speaker. However, they must literally support what the
speaker says and not simply replace the spoken information. It is also
not enough to just read the text from a visual aid.
There are many advantages to the correct use of visual aids.
They can show information which is not easily expressed in words or
they can highlight information. They cause the audience to employ
another sense to receive information, they bring variety and therefore
increase the audience’s attention. They save time and they clarify
complex information.
Relegate = a retrograda, a degrada

Language Checklist
Using visuals
Types of visual support
Visual: film / video / picture / diagram / chart / pie chart / plan / map
Table graph
x axis / horizontal axis
y axis / vertical axis
left hand / right hand axis
Line graph
solid line
dotted line
broken line

(slide) projector
slides (B.E.)
diapositives (Am.E.)
overhead projector (OHP)
transparency (B.E.)
slide (Am.E.)
flip chart
metaplan board
Introducing a visual
I’d like to show you …
Have a look at this …
This (graph) shows / represents …
Here we can see …
Let’s look at this …
Here you see the trend in …
This compares x with y
Let’s compare the …
Here you see a comparison between …

Pie chart = diagramă circulară (rotundă, “plăcintă”)
Flow chart = schema procesului tehnologic / organigramă
Diagram = diagramă
Bar graph = diagramă cu bare
Table graph = grafic stil tabel
Line graph = grafic cu linii
overhead projector = proiector
transparency / slide = slide-uri
(slide) projector = dia-proiector
slides / diapositives = diapozitive
flip chart = panou cu foi de hârtie detaşabile
whiteboard = panou alb din material sintetic

Describing the speed of change
A dramatic
A marked
A significant
A slight

increase / fall

To increase / fall


Describing trends
To go up
To increase
an increase
To rise
a rise
To climb
a climb
To improve
an improvement
To recover
a recovery
To get better
an upturn
To level out a leveling out
To stabilize
To stay the same
To reach a peak
a peak
To reach a maximum
To peak
To undulate
an undulation
To fluctuate
a fluctuation

To go down
To decrease
To fall
To decline
To deteriorate
To get worse

a decrease
a fall
a decline
a deterioration
a downturn

To reach a low point
To hit bottom
a trough

Skills Checklist
Using visual supports
Visual must be:
• well prepared
• well chosen
• clear
Available media
Use media which suit the room and audience size.
• Overhead projector (OHP)
- Transparencies / OHT’s / slides (Am.E.)

• Slide projector
- Slides / diapositives (Am.E.)
• Video / computer graphics / flip chart / whiteboard
Use of visual aids
Combination of OHP and flip chart with pens often good.
First visual should give the title of talk.
Second show structure of talk – main headings.
Keep text to minimum – never just read text from visuals.
Do not use too many visuals – guide is one per minute.
Use pauses – give audience time to comprehend picture.
Never show a visual until you want to talk about it.
Remove visual once finished talking about it.
Switch off equipment not in use.
Use of colour
For slides, white writing on blue / green is good. Use different colours
if colour improves clarity of message (e.g. pie charts.).
Use appropriate colour combination: yellow and pink are weak
colours on white backgrounds.
Use of room and machinery
Check equipment in advance.
Check organization of room, equipment, seating, microphones, etc.
Use a pointer on the screen (not your hand).
Have a good supply of pens.
Check order of your slides / OHT’s, etc.
You in relation to your audience
Decide appropriate level of formality, dress accordingly.
Keep eye contact at least 80% of the time.
Use available space.
Move around, unless restricted by a podium.
Use gesture.


Practice 3
Draw a line graph for use in a presentation. Choose any situation
or subject, real or imagined. If possible draw the picture on an
overhead transparency.
Then present the graph as you would in a presentation. Your
description should last no more than one minute.
If possible, construct a graph that makes comparisons possible.
Use solid, dotted or broken lines (or colours) to make the picture

5. The presentation
• Reading
Read the following passage and identify at least six
recommendations about speaking technique which can help to
make the message in a presentation clear.

You’re lost if you lose your audience
Clear objectives, clear plan, clear signals: the secrets of
presentation success.
Any presentation requires a clear strategy or plan to help you
reach your objectives. The aim is not to pass away twenty minutes
talking non-stop and showing a lot of nice pictures. It is to convey a
message that is worth hearing to an audience who want to hear it.
However, how many speakers really hold an audience’s attention?
What is the secret for those who do? First, find out about the audience
and what they need to know. Plan what you’re going to say and say it
clearly and concisely.
A good speaker uses various signals to help hold the
audience’s attention and make the information clear. One type of
signal is to introduce a list with a phrase like There are three things
we have to consider. The speaker then says what the three things are
and talks about each one at the required level of detail. For example:
There are three types of price that we have to think about: economic
price, market price and psychological price. Let’s look at each of
these in more detail. First, economic price. This is based on

production costs and the need to make a profit … and the speaker
goes on to describe this type of price. After that, he goes on to talk
about the market price and so on.
Another signaling technique is to give a link between parts of
the presentation. Say where one part of the talk finishes and another
starts. For example, a well organized presentation usually contains
different parts and progression from one part to the next must be clear,
with phrases like That’s all I want to say about the development of the
product. Now let’s turn to the actual marketing plan. This technique is
very helpful to the audience, including those who are mainly
interested in one part only.
Another type of signaling is sequencing of information. This
usually follows a logical order, perhaps based on time. So a project
may be described in terms of the background, the present situation and
the future. Key words in sequencing information are first, then, next,
after that, later, at the end, finally, etc.
Still another technique which helps to emphasize key points is
careful repetition. Examples are As I’ve already said, there is no
alternative but to increase production by 100 per cent or I’d like to
emphasize the main benefit of the new design – it achieves twice as
much power with half as much fuel.
A final point concerns timing and quantity of information.
Psychologists have suggested that concentration is reduced after about
twenty minutes without a break or a change in activity. Furthermore,
audiences should not be overburdened with technical details or given
too many facts to remember. It is claimed that to ask people to
remember more than three things in a five-minute talk is too much.
Some say that seven is the maximum number of any length of
presentation. Any such calculations are probably not very reliable, but
every speaker needs to think about exactly how much information of a
particular type a specific audience is likely to absorb and to plan

Read the following text and identify the following:
a. the relationship between the main body of the presentation and the
b. a recommendation on one way to divide the main body of the talk.


The main body of the presentation contains the details of the
subject or themes described in the introduction. All the above
techniques are especially useful in making the main body easily
understood. They help the audience to follow the information and to
remember it.
They also help the speaker to keep to the planned structure
and to know exactly what stage has been reached at all times during
the presentation. Clear structure doesn’t just help the audience! In
many presentations the main body can be usefully divided into
different parts. The main parts, each with a main heading, are referred
to in the Introduction. Clearly there are many ways to divide the main
body of presentation and often different parts will themselves be
divided into smaller sections of information:


Main body of information
First part

Second part

Third part

Practice 4
The information below is part of a Product Manager’s notes for a
presentation on an advertising mix for a new range of beauty
products, with the brand name Cheri. He is talking to a marketing
team set up to promote the new range. Use the notes to give a
presentation of about 5 minutes using listing, linking and
sequencing where necessary.
Advertising mix for Cheri beauty products
Above-the-line advertising
television commercials
newspaper advertising
youth magazines
women’s magazines

Below-the-line advertising

free samples

joint promotions

Begin as follow:
‘ Good morning, everyone. I’d like to talk about the advertising mix
for the new Cheri range of beauty products. We are planning two
categories of advertising, above-the-line and below-the-line. I’ll talk
first about… ‘
Merchandising: Any direct efforts to encourage sales of a product,
increase consumer awareness, etc.
Above-the-line advertising: Mass media advertising, such as
television, radio and newspaper.
Below-the-line advertising: Forms of advertising at the point of sale or
directly on the product, such as packaging, shop displays, etc.

Language Checklist
Structure (2) The main body
Signaling different parts in a presentation:
Ending the introduction
So that concludes the introduction.
That’s all for the introduction.
Beginning the main body
Now let’s move to the first part of my talk, which is about …
So, first … To begin with …
There are three things to consider. First … Second … Third …
There are two kinds of … The first is … The second is …
We can see four advantages and two disadvantages. First, advantages.
One is … Another is … A third advantage is … Finally …
On the other hand, the two disadvantages.
First … Second …
Linking: Beginning a new part
Let’s move to (the next part which is) …
So now we come to …
Now I want to describe …

There are (seven) different stages to the process
First / then / next / after that / then (x) / after x there’s y, last …
There are two steps involved.
The first step is … The second step is …
There are four stages to project.
At the beginning, later, then, finally …
I’ll describe the development of the idea.
First the background, then the present situation, and then the prospects
for the future.
Skills Checklist
Structure (2) The main body
Organization of presentation
• Logical progression of ideas and/or parts of presentation.
• Clear development.
• Sequential description of processes.
• Chronological order of events, i.e. background -- present -- future
Main parts














Internal structure of the main body of a complex presentation
Signaling the structure
• Use listing techniques.
• Link different parts.
• Use sequencing language.
Signaling the structure …
• Makes the organization of the talk clear
• Helps the audience to follow
• Helps you to follow the development of your talk.

6.The end of the presentation
• Reading
Read the following text and identify:
a. a potential problem at the end of a presentation.
b. three ways to avoid the problem.
Open for questions: The silent disaster
A nightmare scenario is as follows: the speaker finishes his
talk with the words ‘Any questions?’ This is met by total silence. Not
a word. Then an embarrassed shuffling, a cough … how can this be
avoided? A possible answer is that if the presentation has been good
and the audience is clearly interested, someone will have something to
Another way to avoid the nightmare of utter silence is to end
with an instruction to the audience. This should ensure immediate
audience response. Giving an instruction is often useful in sales
presentations and where the audience has special requirements.
A sales presentation
After talking about his or her products or services, the speaker
wants the audience to explain their needs and says:
‘Okay – I’ve told you about the ways Snappo can help
companies like yours. Now for us to do that, we need to know more


about the way you work. For example, tell me about your particular
situation, tell me what in particular may interest you … .’
This places a responsibility on the audience to respond –
unless of course they have a completely negative view of both the
presenter and the message! Assuming they are well-disposed towards
the potential supplier, it is probably in their interests to offer some
information and begin discussion.
A training manager
Speaking to an audience of Department Managers, vicepresidents, or potential trainees, the Training Manager has outlined
recommendations and explained what is available. He/she can end
‘Right! I’ve told you what we can offer. Now tell me what are
your impressions, what are your priorities and what else do you need
to know now?'
Another option is for the speaker to have a question prepared.
Ask something which you know the audience will have to answer.
This often breaks the ice and starts discussion. It may be possible to
single out an individual who is most likely to have a question to ask
you or a comment to make, or it may be apparent from earlier contact
perhaps during the reception or coffee break, that a particular
individual has something to say or to ask.

Handling questions is thought by many speakers to be the
most difficult part of a presentation. Why do you think this is?
Here you have a list of the pieces of advice you need in
handling questions:

Be polite.
Check understanding if necessary by paraphrasing.
Listen very carefully.
Don’t say anything you’ll regret later.
Ask for repetition or clarification.
Agree partially before giving own opinions: Yes, but…
Keep calm.
Tell the truth (most of the time!)

Practice 5
Imagine that you have given a talk on Marketing in Japan at a
conference on business trends. What would you say in these
situations? If you need to, refer to the Language Checklist.
1. At the end of your presentation, move to comments / discussion /
2. A member of the audience suggests that you said that many small
retail outlets, small shops, had actually closed down in recent
years. In fact, you said this process has been going on for a long
time. Politely correct the other person.
3. Ask the audience for comments on why this has happened.
4. Agree with someone’s suggestions, but suggest other factors. One
is the increasing number of take-overs of smaller companies.
5. A member of the audience says the following: ‘I … understand
that a report showed that 700 new drinks came out in Japan in
1990 and one year later 90 % had failed. That’s a pretty amazing
figure …’ Paraphrasing this, ask if in the USA or Europe that
could not happen.
6. Someone suggests that in Japan there has always been an
emphasis on quality and on products. In the West market research
has been more developed. Agree, but say the situation is changing.
7. A speaker says something you don’t understand. What do you

Language Checklist
The end of presentation
Ending the main body of the presentation
Right, that ends (the third part of) my talk.
That’s all I want to say for now on …
Beginning the summary and/or conclusion
I’d like to end by emphasizing the main point(s).
I’d like to finish with …
• A summary of the main points.
• Some observations based on what I’ve said.
• Some conclusions / recommendations.
• A brief conclusion.

There are two conclusions / recommendations.
What we need is …
I think we have to …
I think we have seen that we should …

Inviting questions and/or introducing discussion
That concludes (the formal part of) my talk.
(Thanks for listening) … Now I’d like to invite your comments.
Now we have (half an hour) for questions and discussion.
Right. Now, any question or comments?
So, now I’d be very interested to hear your comments.

Handling Questions
Understood but difficult or impossible to answer
That’s a difficult question to answer in a few words.
• it could be …
• in my experience …
• I would say …
• I don’t think I’m the right person to answer that. Perhaps (Mr.
Holmes) can help …
• I don’t have much experience in that field …
Understood but irrelevant or impossible to answer in the time
I’m afraid that’s outside the scope of my talk / this session. If I were
you I’d discuss that with …
I’ll have to come to that later, perhaps during the break as we’re short
of time.
Not understood
Sorry, I’m not sure I’ve understood. Could you repeat?
Are you asking if …?
Do you mean …?
I didn’t catch (the last part of) your question.
If I understood you correctly, you mean …? Is that right?

Checking that your answer is sufficient
Does that answer your question?
Is that okay?

Skills Checklist
Structure (3) Ending the presentation
A summary
• Restates main point(s).
• Restates what the audience must understand and remember.
• Contains no new information.
• Is short.
A conclusion
• States the logical consequences of what has been said.
• Often contains recommendations.
• May contain new and important information.
• Is short.
• Inviting questions implies that the audience is less expert than the
• Beware of the ‘nightmare scenario’ – total silence! Have one or
two prepared questions to ask the audience.
• Keep control of the meeting.
• Inviting discussion gives the impression that the audience have
useful experience, so is often more ‘diplomatic’.
• You still need to control the discussion.
Inviting discussion and questions
• Offer the best solution.
• Keep control, limit long contributions, watch the time.


Handling questions
• Listen very carefully.
• Ask for repetition or clarification if necessary.
• Paraphrase the question to check you understand it.
• Give yourself time to think – perhaps by paraphrasing the
• Check that the question is relevant. If not, don’t answer if you
don’t want to.
• Refer questioner to another person if you can’t answer.
• Suggest you’ll answer a question later if you prefer.
• Check that the questioner is happy with your answer: eye contact
and a pause is often sufficient.
• Keep control.
• Don’t allow one or two people to dominate.
• Be polite.
• Signal when time is running out – ‘Time for one last question’.
• At the end, thank the audience.
Exercise 1 The new product
Read Mr. Lopez’ presentation and try to match the titles (used in his
rough plan) of the different parts of his presentation to the right text
Winding-up; Introducing yourself; Delivering the message;
Preparing the audience
Good morning ladies and gentlemen; we haven’t all met before so I’d
better introduce myself. I’m Luis Lopez from the development
department of Citrus Incorporated… I should say before we start that I
hope you’ll excuse my English. I’m a little out of practice…
Anyway, I’m going to be talking this morning about a new product
which we are planning to launch in two months’ time; it’s called
KOOL-OUT, that’s K-O-O-L dash O-U-T, and it’s a lemon-flavoured
Well, I’ll start with the background to the product launch; and then
move on to a description of the product itself, I’m going to list some of
the main selling points that we should emphasize in the advertising

and sales campaign. I think if you don’t mind, we’ll leave questions to
the end…
Now firstly, as you all know, we had a gap in our soft-drink product
range for the last two years; we have been manufacturing mixed-fruit
drinks and orange drinks for the last ten years, but we stopped
producing lemonade two years ago; I think we all agreed that there
was room on the market for a completely new lemon-flavoured drink
… Secondly, the market research indicated that more and more
consumers are using soft drinks as mixers with alcohol, so in other
words, the market itself has expanded.
This brings me to my next point which is that we have rather new
customer-profile in mind; I must emphasize that this product is aimed
at the young-professional, high-income, market and not the traditional
consumer of old-fashioned lemonade. At this point we must consider
the importance of packaging and design, and if you look at the video
in a moment, you’ll see that we have completely re-vamped the
container itself as well as the label and slogan…
Now to digress for just a moment, the more sophisticated packaging
means a high unit cost, and this may be a problem in the selling area,
but we’ll have a chance to discuss that aspect later… so … to go back
to my earlier point, this is a totally new concept as far as Citrus
Incorporated are concerned; as you see we are using both the new-size
glass bottle and the miniature metal cans.
Finally, let’s look at the major attractions of the product. In spite of
the higher price it will compete well with existing brands; the design
is more modern than any of the current rival products, and incidentally
the flavour is more realistic and natural… it’s low calorie, too.
O.K., so just before closing, I’d like to summarize my main points
again… We have KOOL-OUT, a new design concept, aimed at a
relatively new age and income group; it’s designed to be consumed on
its own, as a soft drink, or to be used as a mixer in alcohol-based
drinks and cocktails. It comes in both bottle and can and this will
mean a slightly higher price than we are used to; but the improved
flavour and the package design should give us a real advantage in
today’s market… well, that’s all I have today for the moment, thank
you for listening, now if there are any questions, I’ll be happy to
answer them…


Exercise 2 The product presentation
Use the phrases written below to construct a similar presentation to be
given to a client.
a. Now, to change the subject for a moment…
b. Before I finish, I’d like to run through the main points again…
c. I’ll begin by describing ---------, and then go on to ---------, and I’ll
end with -------- .
d. In conclusion…
e. I want to stress…
f. Good afternoon.
g. That brings me to the end of my presentation.
h. I’d like to talk about…
i. To return to the point I made earlier…
j. First, let me introduce myself; I’m ------- from ---------- .
k. Feel free to interrupt if you have any questions.
l. Thank you for your attention.
m. First of all … Next …
n. Please excuse my rather poor English!
o. I’d like now to turn to…
p. If you have any questions, I’ll be glad to answer them.
q. At this point we have to bear in mind…

Exercise 3 Can I interrupt here?
While you were speaking your colleague, or your customer may
interrupt to make a point. You will have to deal with it! Look at the
interruptions listed below and some possible replies. Match the reply
to the interruption.
a. You haven’t mentioned the price yet!
b. Your product is more expensive than your competitor’s!
c. I’d like the exact specifications, please!
d. I still don’t understand the difference between the de-luxe and
economy models!
e. Your new model seems much heavier than the old one!


1. I take your point… but have you taken into account the improved
2. I’ll be coming to that in a moment.
3. You’re right, but on the other hand our product has a number of
unique design features.
4. Our technical department will be able to give you an answer on
5. Let me clarify that for you.
Exercise 4 Anticipating questions
It is a very good policy to try to anticipate questions or problems and
to deal with them before your audience raises them. Here are some
examples of how you can anticipate.
I can hear you say: why is this so costly?
I wonder why it’s so expensive?
Now, you may well ask, what does the mean by ‘up-market’?
What’s ‘up-market’?
You will have noticed that I haven’t given any figures.
Where’s the statistical data?
An obvious problem at this stage is the choice of colours.
Does it only come in black?
How would you anticipate the following questions? Example: Why is
it so heavy? An obvious problem is the weight.

Why is the delivery period so long?
What’s ‘top quality’ specification?
Do the accessories have to be so expensive?
Why doesn’t he mention the price?
Can he prove what he says with figures?

4. Meetings
7. Preparation for the meeting
Language Checklist
Chairing and leading discussion
Opening the meeting
Thank you for coming …
(It’s ten o’clock). Let’s start …
We’ve received apologies from …
Any comments on our previous meeting?
Introducing the agenda
You’ve all seen the agenda …
On the agenda, you’ll see there are three items.
There is one main item to discuss …
Stating objectives
We’re here today to hear about plans for …
Our objective is to discuss different ideas …
What we want to do today is to reach a decision …
Introducing discussion
The background to the problem is …
This issue is about …
The point we have to understand is …
Calling on a speaker
I’d like to ask Mary to tell us about …
Can we hear from Mr. Passas on this?
I know that you’ve prepared a statement on your Department’s
Controlling the meeting
Sorry Hans, can we let Magda finish?
Er, Henry, we can’t talk about that.
So, what you’re saying is …

Can I summarise that? You mean …
So, the main point is …
Moving the discussion on
Can we go to think about …
Let’s move on to the next point.
Closing the meeting
I think we’ve covered everything.
So, we’ve decided …
I think we can close the meeting now.
That’s it. The next meeting will be …
Skills Checklist
Preparation for meetings
• Decide objectives.
• What type of meeting (formal or informal, short or long, regular
or a ‘one off’, internal / external information giving / discussion /
decision making)?
• Is a social element required?
• Prepare an agenda.
• Decide time / place / participants / who must attend and who can
be notified of decisions.
• Study subjects for discussion.
• Anticipate different opinions.
• Speak to participants.
• Obtain agenda and list of participants.
• Inform participants and check:
Room, equipment, paper, materials.
Refreshments, meals, accommodation, travel.
• Study subjects on agenda, work out preliminary options.
• If necessary, find out team or department views.
• Prepare own contribution, ideas, visual supports, etc.

The role of the Chair
• Start and end on time.
• Introduce objectives, agenda.
• Introduce speakers.
• Define time limits for contributions.
• Control discussion, hear all views.
• Summarise discussion at key points.
• Ensure that key decisions are written down by the secretary.
• Ensure that conclusions and decisions are clear and understood.
• Define actions to be taken and individual responsibilities.

Practice 1
Suggest phrases which could be used by a chairperson in the
following situations in a meeting.
a. To welcome the participants to a meeting.
b. To state the objectives of the meeting.
c. To introduce the agenda.
d. To introduce the first speaker.
e. To prevent an interruption.
f. To thank a speaker for his/her contribution.
g. To introduce another speaker.
h. To keep discussion to the relevant issues.
i. To summarise discussion.
j. To ask if anyone has anything to add.
k. To suggest moving to the next topic on the agenda.
l. To summarise certain actions that must be done following the
meeting (for example, do research, write a report, meet again,
write a letter, etc.).
m. To close the meeting.


Practice 2
1. In groups, work out a brief agenda, with an appropriate order,
for a meeting of the marketing department of Axis Finance Ltd., a
medium-size financial services company. Your agenda should
include the points listed here:
Any other business
New products
Minutes of previous meeting
Marketing plans for next year
Date of next meeting
Review of marketing performance in the current year
Personnel changes
Chair’s opening address
Apologies for absence.

2. In pairs, prepare a brief opening statement by the chair to
introduce the meeting above:
Think about what the opening statement from the chair needs to say
Use your agenda as a guide
Refer to the Language Checklist
Practise in pairs

8. Participating in meetings

Language Checklist
Discussion in meetings
Stating opinion
It seems to me …
I tend to think …
In my view …
We think / feel / believe …
There’s no alternative to …
It’s obvious that …
Clearly / obviously …

Asking for opinion
I’d like to hear from …
Could we hear from … ?
What’s your view?
What do you think about …?
Do you have any strong views on … ?
Any comments?
Excuse me, may I ask for clarification on this?
If I may interrupt, could you say … ?
Sorry to interrupt, but …
Do you think so? My impression is …
What? That’s impossible. We / I think …
Handling interruptions
Yes, go ahead.
Sorry, please let me finish …
If I may finish this point …
Can I come to that later?
That’s not really relevant at this stage …
Can we leave that to another discussion?

Skills Checklist
Participating in meetings
Types of meeting
• Decision making meeting
• Information giving meeting
• Spontaneous / emergency meeting
• Routine meeting
• Internal meeting
• Customer / client / supplier - first meeting / established
Structure of decision making meetings
• Study / discuss / analyse the situation
• Define the problem

Set an objective
State imperatives and desirables
Generate alternatives
Establish evaluation criteria
Evaluate alternatives
Choose among alternatives

The DESC stage of meeting
Describe situation
Express feelings
Suggest solutions
Conclude with decision
Goal of decision making meetings
Objective: to get a consensus in a time-efficient and cost effective
Importance of communication
• Two-way process
• Participants must be aware of others’ needs
• Full communication and understanding is essential
• Four elements in communication: awareness – understanding –
empathy – perception
Reaching a consensus
• Discussion leads to consensus
• Consensus is recognised and verbalised by leader
• Decisions checked and confirmed

Practice 3
Use the skeleton outline below to recreate the entire dialogue with
a partner. Choose alternative interruptions and ways of handling

‘The fall in sales is mainly due to
the recession affecting world markets.’
Interrupt: ask for clarification.

Polite response.
(general fall of 5 % / most product areas
/ especially oil processing sector
/ also due to sale of Anglo, UK subsidiary)
Interrupt: ask why Anglo was sold.
Reject interruption:
No time / discussed before.
Try to move on to future prospects.
(the outlook is just good now)
Interrupt: disagree.
Respond: you disagree.
Forecast are much better.
Interrupt: you want to talk about
new markets.
Promise to discuss this later.
But first …
Interrupt: suggest a break.
Reject the idea.



Read the following extract and answer these questions.
What kind of meeting is the text about?
What structure does the text describe?
What key points is made about communication?


Read the text again. Do you agree with:
The first sentence? Give reasons for your answer.
Hayne’s suggestions for the steps involved in decision making?
The view that communication must be a two-way process?
What the writer says about consensus in the final paragraph?

The reason for having a meeting is to make a decision.
Information may be given in a presentation followed by questions or
discussion, but it is to get a consensus that the meeting has been
arranged in the first place. Achieving this in the most time- and costeffective manner possible is a goal that everyone attending (the
meeting) must share.

Marion Haynes (1988) maintains that decision-making meetings
need to follow a specific structure. The rational decision process
includes the following steps:
• Study / discuss / analyse the situation
• Define the problem
• Set an objective
• State imperatives and desirables
• Generate alternatives
• Establish evaluation criteria
• Evaluate alternatives
• Choose among alternatives.
One other aspect of decision making is the necessity for
participants in the meeting to be aware of one another’s needs and
perceptions. If these are not effectively communicated, if there is an
insufficient degree of understanding of one another’s requirements,
then an acceptable conclusion is unlikely to be reached. There are four
essential elements in decision-making: awareness, understanding,
empathy and perception.
It is only when we accept that communications are a two-way
process that any form of communication, including decision making,
will become genuinely successful and effective.
Decision-making is not always an identifiable activity. Frequently the
discussion can evolve into a consensus which can be recognised and
verbalised by the leader without the need to ‘put things to the vote’.

3. Find words or phrases in the text which mean the same as the
a. common agreement
b. economical use of resources
c. aim
d. fix a goal
e. what one must have
f. what one would like to have
g. consider other options
h. way of seeing things
i. seeing things as others see them
j. develop
k. express through speaking.

Interruptions can have different intentions:
To ask for clarification
To add opinion
To ask for more details
To change direction of the discussion
To disagree.

Handling interruptions:
Promise to come back to a point later
Politely disagree with an interruption
Say the interruption is not relevant or that time is short
Politely accept the interruption and respond to it before continuing
Reject a suggestion

9. Ending the meeting
• Reading
Read the following text and identify:
a. three recommendations on how a meeting should end
b. what should happen after a meeting.

Regardless of the type of meeting (information or decision
making), it is important to close with a restatement of objective, a
summary of what was accomplished, and a list of agreed action that
needs to be taken.
After the meeting, it is essential to follow up with action. A
brief memorandum of conclusions should be written and distributed.
Inform appropriate people who did not attend the meeting about
essential decisions made.
Finally, each meeting should be viewed as learning
experience. Future meetings should be improved by soliciting
evaluations and deciding what action is required to conduct better


Language Checklist
Ending the meeting
Asking for clarification
Could you be more specific?
Can you explain that (in more detail)?
What do you mean by …?
This means …
What I mean is …
What I want to say is …
To explain this in more detail …
Checking that the clarification is sufficient
Is that okay? / is that clearer now?
Referring to other speakers
As Peter has already told us …
I’m sure Mr. Kowski knows about this …
Later we’ll hear a report from Neil on …
Professor Gilberto is certainly aware of …
Delaying decisions
I think we need more time to consider this.
I think we should postpone a decision …
Can we leave this until another date?
It would be wrong to make a final decision …
Ending the meeting
• Summarising
I think we should end there. Just to summarise …
We’ve covered everything, so I’d like to go over the decisions we’ve
taken …
So, to conclude … we’ve agreed …
• Confirming action
We’ll contact …
John will …
We’ve got to …
We need to look at …

• Referring to next contact
We’ll meet again next month …
We look forward to hearing from you …
It’s been a pleasure to see you today and I look forward to our next
meeting …

Skills Checklist
Ending meetings
Two general rules
Meeting should end on time!
Decision making meetings should end with decisions!
The Chair should close the meeting with:
• A restatement of the objectives
• A summary of decisions taken
• A summary of the action now required
• Reference to any individual responsibilities.
After the meeting
• A memorandum should be sent to all participants summarising the
decisions taken and the action required.
• The memorandum should be sent to any interested individuals
who were unable to attend.
• The Chair should seek feedback on the meetings to try to improve
future meetings.
Improving meetings
• Motivation to change
• Gather information on present situation
• Identify specific areas needing improvement
• Identify alternative courses of action
• Practise new techniques
• Improvement model.


Practice 4
You are at an internal meeting to discuss increases in the price of
your products. With a partner, use these prompts to make a
dialogue. Try to use new language from this unit.
Participant A

Participant B

Ask if the meeting can
reach a decision on this.
Respond that we need more
Ask for clarification.
Say we need to know more
about the effects of a price
Suggest doing market research.
Agree. Suggest contacting a
friend who knows about
market consultancy firms.
Suggest first looking at previous
experience of price rises –
then later going to a Marketing Consultancy.
Ask for general agreement.
Move to next item for discussion.

Practice 5
In pairs use the outline below to create a chair’s closing remarks
for a meeting. To make this more realistic, add names and other
details as required. Practice your closing remarks together.
Indicate that the meeting is almost over.
Check that no one has anything else to say.
Restate the purpose of the meeting.

Introduce a summary of the decisions taken.
Ask if everyone is happy with your summary.
Indicate that a colleague will organise a presentation next week.
Fix a date for a new meeting.
Thank people for coming.

5. Negotiations
10. Know what you want
Language Checklist
Negotiations (1)
Making an opening statement
Welcome to …
I’m sure we will have a useful and productive meeting …
First meeting
We see this as a preparatory meeting …
We would like to reach agreement on …
One of a series of meetings
Following previous meetings we have agreed on some important
issues. Today we have to think about …
We have reached an important stage …
Stating your aims and objectives
I’d like to begin with a few words about our general expectations …
May I outline our principle aims and objectives today …
We want to clarify our positions …
We have a formal agenda …

We don’t have a formal agenda, but we hope to reach agreement on …
There are three specific areas we would like to discuss. These are …
We have to decide …
Stating shared aims and objectives
Together we want to develop a good relationship …
We agree that …
It is important for both of us that we agree on …
Handing over
I’d like to finish there and give you the opportunity to reply to this.
I’d like to hand over to my colleague …, who has something to say
about …
Skills Checklist
Negotiations (1)
Planning and preparation
Type of negotiation
• Towards agreement
Both teams try to suit joint interests
• Independent advantage
Each team aims to get best deal
• Conflict
A team aims to win and make the other team lose
Purpose of negotiation
• Exploratory (possible areas of interest)
• Conciliatory (resolving differences)
• Scale (e.g. 1-10)
• Decide realistic maximum and minimum acceptable scores
Facts and figures
• Prepare statistical data
• Know facts
• Prepare visuals

Strengths and weaknesses
• List your bargaining strengths
• Know your possible weaknesses
• Calculate your bargaining position
Possible concessions
• Plan your bargaining strategy
• List essential conditions
Impossible to concede
• List possible concessions
Opening statements
• State general objectives
• State priorities
• State independent (not joint) objectives
• Be brief
Practice 1
1. Suggest phrases for each of the following at the start of a
• Welcome the other side.
• Develop small talk (trip, weather).
• Mention plans for lunch – make your visitors feel welcome (see
city centre / local restaurant).
• Suggest you start talking about the main subject of your meeting.
• Introduce a colleague.
• Explain general aim or purpose of the meeting. (preliminary /
• Say what your side wants from the meeting. (Establish beginnings
of a partnership / learn about supply systems / price variations and
supply costs.)


2. Try to bring all the phrases above together in a single opening
Types of negotiation:

Agreement-based negotiation or win-win negotiation
Proposals and counter proposals (propuneri contrare) are
discussed until agreement is reached. Both sides hopes for repeat
business. Two parties have a shared objective: to work together in
a way which is mutually beneficial.
Independent advantage negotiation
This type of negotiation is less based on mutual benefit, but on
gaining the best deal possible for your side. Each team thinks only
about its own interests.
Win–lose negotiation
This type is the negotiation to resolve conflict, for example in a
contractual dispute. Here, it is possible that each party regards the
other as an opponent and seeks to win the argument.

A typical structure of a negotiation:
Counter suggestion

Practice 2
1. Mark the seven points below (how to prepare a negotiation) in
the right order. The first is already marked as an example.
Identify your minimum requirements.
Prepare your opening statement.
Decide what concessions you could make.
Know your own strengths and weaknesses.
Know your role as part of a team.
Prepare your negotiation position – know your aims and objectives. 1
Prepare any figures, any calculations and any support materials you
may need.

2.Match each of the four aspects of good preparation on the left
with why they are important on the right.
a. Knowing your aims
i. means you can support your
and objectives
b. Knowing your own strengths and
ii. helps clear thinking and
c. Preparing any figures, calculations iii. creates reasonable
and other materials
d. Preparing an opening statement
iv. helps you to know the
market, the context in which
you want to work.

11. Getting what you can
• Reading
1. Read the following extract. According to the writer, are these
statements about negotiating true (T) or false (F):
a. Decide on the most important and less important issues.
b. Try to guess what the other side thinks.
c. Note answers to the questions you ask.
d. Deal with issues in isolation, one at a time.
e. Make concessions and get a concession in return.
f. Tough bargaining can combine with a spirit of cooperation.
g. If there are problems, you have to accept or reject what is on
Effective negotiation requires clear thinking and a constructive
It is necessary to have a clear understanding of what for you
are the most important issues and at the same time what for you are
less important. Try to identify aspects in the second category where
the other side will be very happy to gain concessions. Give what is not
so important for you, but is valuable for the other side.


To do this, you have to do the following:
Check every item of what the other side wants. Ask how
important items are and look for flexibility.
Do not guess their opinions or motives – you could be wrong, or
they won’t like your speculation.
Note the other side’s answers, but don’t immediately say what you
Avoid being forced into considering one issue alone, consider two
or three at once – aim for an agreement to a package.

If there are big differences between the two parties, you have a
choice of these options: to accept, to reject, or to carry on negotiating.
If you decide to carry on, then the options in the next round are:
• To make a new offer
• To seek a new offer from the other party
• To change the shape of the deal (vary the quantity or the quality,
or bring in third parties)
• Begin bargaining.
Your bargaining should be governed by three principles: be
prepared, think about the whole package, and be constructive. In
preparing, you must identify the issues, and prepare your bargaining
position. You need:
• An essential conditions list – issues where you cannot concede
• A concessions list – issues where you can make concessions
• To grade the concessions from the easiest to the most difficult,
where you need most in return.
As for the package, you must look for agreement in principle on a
broad front (zonă cu elemente diferite). When the time comes for
compromise, each party will concede on one issue if they win a
concession on another.
The final principle is to be positive and constructive. You should
be fair and cooperative, even during difficult bargaining. This
approach is mot likely to move the negotiation towards a settlement
that both sides feel is to their advantage.

2. Read the text again. Identify the following:
a. How to respond to what the other side wants.
b. Three ways to change a deal.
c. Three actions to prepare for bargaining

Language Checklist
Negotiations (2)
We can agree to that if …
On condition that …
So long as …
That’s not acceptable unless …
Without …
Making concessions
It you could … we could consider …
So long as … we could agree to …
On condition that we agree on … then we could …
Let’s think about the issue of …
We could offer you …
Would you be interested in …?
Could we tie this agreement to …?
We agree.
That seems acceptable.
That’s probably all right.
Can we run through what we’ve agreed?
I’d like to check what we’ve said / confirm
I think this is a good moment to repeat what we’ve agreed so far.
I’d like to run through the main points that we’ve talked about.
So. I’ll summarise the important points of our offer.
Can we summarise the proposal in a few words?

Looking ahead
So, the next step is …
We need to meet again soon.
In our next meeting we need to …
So, can we ask you to …?
Before the next meeting we’ll …
We need to draw up a formal contract.
Skills Checklist
Negotiations (2) – Bargaining in negotiations
Concessions rules
‘A key principle in negotiation is to give a little and get a little at the
same time.’
• Ask for concessions
• All concessions are conditional
• Conditions first ‘If … then …’
• ‘It’s a package’
• Give what’s cheap to you and valuable to them.
During the negotiation
Main speaker
• Create a joint, public and flexible agenda.
• Question needs and preferences.
• Don’t talk too much.
• Listen.
• Don’t fill silences.
• Build on common ground.
• Explore alternatives ‘What if …?’
• Be clear, brief and firm.
• Follow concession rules.
Support speaker
• Wait till the Chair or your main speaker brings you in.
• Be clear, brief and firm.
• Follow the concession rules.
• Support your main speaker

- Agree (nod, ‘That’s right …’)
- Emphasise (‘This point is very important’)
- Add forgotten points (‘And we must remember …’)
- But don’t make concessions for your main speaker.
- Listen.
- Don’t fill silences.
Practice 3
Make sentences which include concessions based on the prompts
below. The first is done for you as an example.
a. a better warranty / quicker payment terms
We could offer a better warranty if you would agree to quicker
payment terms.

free delivery / large order
free on-site training / small increase in price
5 % discount / payment on delivery
extra £ 50, 000 compensation / agreement not to go to law
promise to improve safety for staff / agreement on new contracts
better working conditions / shorter breaks

Practice 4
You and a partner are representatives of Beck Instruments and
Ojanpera Inc., a machine tool maker. Ojanpera is in discussion with
Beck Instruments to buy a machine, the BI 25. Use the flow chart
below to negotiate some aspects of an agreement for the sale of the
BI 25.
Offer to buy the machine if BI
can give a good price.

Beck Instruments

Say that your prices are very
Ask for a discount.
Say a discount could be
possible if Ojanpera agrees to
pay for shipping costs.
Agree, if the discount is attractive.
Offer 4 % discount.

Ask for 6 % discount.
Unfortunately, you can’t
agree, unless Ojanpera pays
for the installation.
Confirm your agreement.
Practice 5
The following letter is from Gibson Trust Ltd. To the Ministry of
Urban Development summarising the points agreed in the
negotiation between them and outlining the next steps. Complete
the spaces in the letter with appropriate words given below.
Enclosed developed specified examined excluded signed
Agreed drawn up confirm included

Units 9-12 East Side Monks Cross Industrial Estate BRISTOL BSI4
Telephone 01272 547777 Fax 01272 547701

Neil Finch
Ministry of Urban Development
140- 144 Whitehall
London WCI 4RF
May 2 200—

Dear Neil,
Re: Meeting in Bristol, April 30 --- ‘Railway Land Sale’
I am writing to (a) _______ points (b) _______ in the above meeting,
held to discuss the sale of government owned railway land to Gibson
Trust Limited.


We would like to confirm through this letter and the (c) ________
drawings that the property (d) ______ in the above sale consists of the
land presently occupied by the station buildings and also the former
car parks to the east of the station, the offices to the west and the
warehouse alongside the traks. The government-owned housing on the
north side of the railway lines is (e) _______ .
We also agree that the station will be renovated by the Transport
Department and that the government will be responsible for running
an eventual museum and paying a rent of £ 100,000 per year to
Gibson Trust. The remaining land will be (f) _________ by Gibson
Trust and later sold off separately. The development is intended to be
for commercial and residential use. The eventual use of the land
should be (g) _______ in the contract.
Our next meeting will be on May 15 at 10 a.m., at which development
plans will be (h) ______. Soon after this, contracts will be (I) ______ .
Then we will need time to consider the contracts but hopefully they
will be (j) ______ by the end of September.
Do contact us if you have any comments or alterations you would like
to make to this summary. Thank you once again for a very
constructive meeting and we look forward to seeing you again on May

Your sincerely,

Jill Kearne
Chief Negotiator
Encs. (I)


12. Not getting what you don’t want
• What type of negotiator are you?
1. Your aim in a negotiation is …
a) to find the greatest area of agreement in the joint interests of
both parties.
b) To win and to make the other side lose.
c) To find the best deal for your side.
2. When the other side is talking you …
a) use the information you are hearing to identify weaknesses in
the other party.
b) Plan what you are going to say next.
c) Listen with maximum attention.
3. You think that …
a) part of the available time must be spent socialising and getting
to know the other side.
b) Goodwill is important but the speed of the meeting should be
quick and businesslike.
c) The meeting should get down to business as soon as possible
and reach quick decisions.
4. When you speak in a negotiation you …
a) make bold and forceful statements, possibly banging the table.
b) Make carefully considered statements in a calm, controlled
c) Are occasionally forceful and inflexible.
5. If the other side disagree with you, you …
a) try hard to find a creative position by modifying your
b) Repeat your demands and will not concede – your objective is
to make the other side give in.
c) Reshape your offer without fundamental changes.
6. If the other side state an opinion you disagree with, you …
a) tentatively suggest an alternative.
b) Ask for clarification and explanation.
c) Ridicule it with sarcasm.

1 a)3 b)2 c)2
4 a)1 b)3 c)2

2 a)1 b)2 c)3
5 a)3 b)1 c)2

3 a)3 b)2 c)1
6 a)3 b)2 c)1

If you score 15 or more you are a creative negotiator. 11-14 you
negotiate to independent advantage. 7-10 you are a fighter! Less
than 7 you should get a gun licence!
• Reading
Match each of the following to a phrase in the text with a similar
a. highlight the disadvantages of failing to reach a deal
b. think of new benefits for both sides
c. alter parts of what is on offer
d. take a break to consider positions
e. have the negotiation in a different place
f. change the individuals involved
g. ask an independent person to come and help you reach agreement
h. have an informal meeting to talk things over.

Dealing with conflict
Conflict may sometimes be an unavoidable step on the road
towards agreement. However, in some cases conflict leads to the break
down of negotiations as one or both sides realise that agreement is not
possible. In many cases this is better than agreeing to something
which would be against the interests of the people concerned.
When conflict arises, there are several possible actions which
may help to resolve conflict in a negotiation:
• Leave the problem, go on to a different topic and return later to
the point at issue
• Summarise progress and areas of agreement
• Emphasise the benefits available to both sides
• Emphasise the loss to both sides of not reaching agreement
• Restate the issue and wait for a response

Change the package
Invent new options for mutual gain
Offer conditional concessions
Adjourn (a amâna, a suspenda) to think and reflect
Fix an off-the-record meeting (întâlnire neoficială)
Change location
Change negotiator (personal chemistry?)
Bring in a third party (mediator?)
Consider walking away.

Practice 6
In pairs, use the given prompts to suggest a response to the
Situation 1
The problem is that we have never offered the kind of warranty you
are looking for.
Suggest leaving the point and returning to it later after discussing
other issues, i.e. training for technical staff.
Situation 2
There’s a number of issues on the table. We seem to be a long way
from an agreement.
Suggest changing the package on offer (variables include price,
shipment costs, payment terms).
Situation 3
The price you are asking is rather high, quite a lot higher than we were
Send a signal that you could offer better payment terms.
Situation 4
There are several problems. We think there is quite a lot of negotiation
ahead before we can agree on a common strategy.
Suggest advantages of reaching agreement: more global influence,
better prospects for the future.



Below are five strategies in dealing with conflict. Use them in
making statements.
Adjourn to think and reflect.
Summarise progress and areas of agreement.
Leave the problem, discuss something else, come back later to the
Emphasise the loss to both sides of not reaching agreement.
Offer a conditional concession.

Practice 7
Below are four offers or request. Reject each one, using the
information in the prompts.
Situation 1
Let me make a suggestion. If you agree to buy 100 units every month
for the next twelve months, we’ll agree a 10 % discount.
You don’t know how many units you will need in six and twelve
months. It might be more or less.
Situation 2
The price we are offering excludes installation costs but does include
a twelve month’s guarantee.
Other suppliers offer free installation and a two year parts and labour
Situation 3
I think the absolute minimum investment in advertising must be
$40,000, otherwise we cannot reach enough of our market. It’s not
much to ask for.
You cannot spend more than your budget.
Situation 4
Now, some excellent news: we’d like to increase our order. Right now
you are sending us 350 boxes a month. We need at least 500, demand
is very high …
Your order books are full, the plant is working at capacity.


Practice 8
Suggest what you could say in the following situations.
Situation 1
After a long negotiation, you have reached agreement and now plan a
meal in a local restaurant with the other party in the negotiation.
Situation 2
Your efforts to reach agreement have been unsuccessful. It is late. End
the negotiation but offer some hope that in the future you might
manage some cooperation with the other side.
Situation 3
A colleague has asked you to cooperate on a project, but after long
discussion you feel you cannot participate because of fundamental
disagreement. It is important that you continue to work together in the
other areas.
Situation 4
You want to repeat an order with a supplier but they are trying to
increase prices by 20 %. You cannot agree to this. End your
Situation 5
A customer is asking you to supply goods in a month. This is
physically impossible. End the discussion.

Language Checklist
Negotiations (3)
Dealing with conflict
I think we should look at the points we agree on …
We should focus on the positive aspects …
We should look at the benefits for both sides …
It is in your interests to resolve the issue …
What do you think is a fair way to resolve this problem?
We hope you can see our point of view …
Let us explain our position …
Could you tell us why you feel like that?

I think we should look at the whole package, not so much at individual
areas of difficulty.
Perhaps we could adjourn for a little while.
I think we need to consider some fresh ideas …
I’m afraid we can’t …
Before agreeing to that we would need …
Unfortunately …
I don’t think it would be sensible for us to …
I think if you consider our position, you’ll see that …
Ending negotiations
So, can we summarise the progress we’ve made?
Can we go through the points we’ve agreed?
Perhaps if I can check the main points …
So, the next step is …
What we need to do now is …
It’s been a very useful and productive meeting.
We look forward to a successful partnership.
Breaking off negotiations
I think we’ve gone as far as we can.
I’m sorry, but I don’t think we’re going to agree a deal.
It’s a pity we couldn’t reach agreement this time.
Unfortunately we appear unable to settle our differences.
It would be better if we looked for some independent arbitrator.
Skills Checklist
Negotiations (3)
Dealing with conflict
• Show understanding of the other side’s position
• Highlight advantages of agreement
Don’t …
• Be sarcastic
• Attack
• Criticise

Do …
ask questions


build on common ground
explain your feelings

Types of negotiators
Negotiates to win
Makes demands
Looks for common benefits
Makes offers
Looks for agreement
Accepts what’s on offer

Independent advantage

Creative negotiator
looks for agreement

• Ask for an adjournment.
• Discuss options.
• Remember your limits.
• Decide if your interests are being met: if not, reject the proposal
on offer, or suggest alternatives.
After the negotiation
• Compare the result with your objectives, targets and limits.
• Examine the process of the negotiation:
The planning – the strategy – team roles – the issues.
• Learn from failure:
What went wrong and why?
Identify weaknesses and errors
Discuss and plan ahead.
• Build on success:
Recognise success
Praise people
Develop teamwork and partnership.

Negotiating Conditions

Unit price
Minimum quantity
Credit period
Delivery date
Bulk discount
Penalty clause
Cancellation clause

$8.50 per unit
at least 10,000 units
30 days after invoice
20 June 2003
-2 % if over 10,000 units
5 % for each month of delay
50 % charge if cancelled less
than six weeks beforehand
sole rights over all East Coast
3 % of turnover on licensed
5 % on sales in the territory
-2 % if paid within 20 days
first option for 12 months
after contract
irrevocable letter of credit
18 months warranty from

Royalty on sales under licence
Early settlement discount
Option period
Method of payment
Warranty period

DATAFILE: Negotiation

Below are the stages of negotiation and some expressions which you
may find useful at each stage:
Conversation (1)
I’m sure/confident we can reach agreement. (optimistic)
I’m sure there’s room for negotiation.
We have a lot to discuss.
Let’s see how we get on. (cautious)
Presenting your position (2)
This is our position.
This is how we see it.
We think the following is reasonable/appropriate.
Our approach is this.

Questioning the other’s position (3)
How do you/ explain your attitude?
/ justify …? Account for…? Arrive at…?
Why do you want…?
Why such a / high charge?
/ long delivery period?
/ low discount?
Refusing to accept (4)
I’m sorry, I can’t accept 2 %.
You’ll have to do better than that, I’m afraid.
I’m afraid it’s not enough.
Other firms offer more than 2 %.
Refusing to move (5)
I’m afraid I can’t agree to / that.
/ increase the rate.
/ lower the price.
/ shorten delivery.
We’ve done our best for you.
We have maintain a policy.
I have my instructions.
Suggesting a compromise (6)
May I make a suggestion?
If you … then we may be able to…
We may be able to… but only if you…
Unless you … there is no question of our being able to…
Reaching agreement (7)
Let’s just go through the terms.
Let’s summarize the conditions.

Exercise 1 Your turn to negotiate!
Now you have the opportunity to negotiate. To help you with each
answer you are given some information in the script below and a
number which refers back to the Datafile.

Well, let’s get started. You know, with this delivery
problem I’m sure there’s room for negotiation.
You (1: cautious)
Supplier Right, well this is how we see it. We can deliver the first
machine in ten weeks, and install it four weeks after that.
You (3: long delivery period)
Supplier Well, these are in fact the usual periods. It’s pretty normal
in this kind of operation. Did you expect we could deliver any
You (2: 6 weeks maximum delivery; 4 weeks installation)
Supplier I see what you mean, but that would be very difficult. You
see we have a lot of orders to handle at present, and moving just one
of these machines is a major operation. Look, if I can promise you
delivery in eight weeks, does that help?
You (4: too late)
Supplier Ah-ha! Well, look… er… You want the machine in six
weeks. Now that is really a very short deadline in this business. You
said that you couldn’t take it any later, but couldn’t your engineers
find a way to re-schedule just a little, say another week?
You (5: refuse)
Supplier Well, you really are asking us for something that is very
difficult. I’ve already offered you seven weeks. I’ll have to consult
with my colleagues and come back to you, but I can’t see what we can
You (6: if deliver in 6 weeks perhaps talk about further order)
Supplier Well, on that basis I suppose we might be able to look at
some kind of arrangement. In fact, if you can promise another order I
think we could accept your terms.
You (7: 6 weeks delivery; 4 weeks installation; decision on next
order by 26th of this month)
Supplier Exactly. If you could confirm this in writing I …

Exercise 2 Ten rules for negotiating
Dr Ed Zap is holding a two-day seminar on negotiating techniques. At
the end of the first morning he gives the group his ten rules for
negotiating. Here they are.
1. Find out how many points are to be negotiated.
2. Start from an extreme position.


Assume the other person owes you a concession.
Never concede without exchange.
Never give what you can sell.
Exaggerate the value of your concessions, minimize the value of
If he insists on ‘principle’, expect a concession in return.
Only threaten what you are prepared to carry out.
Don’t show disrespect to your opponent.
If you’re happy with the result, don’t shout ‘I’ve won!’

Read Dr Zap’s rules and then look at the remarks in list A. These
remarks are not good for negotiating. Instead, use phrases from list B.
which one would you use in each case?

a. You see? I knew I’d win!
1. If you increase the order, then we may be able to reduce the price.
b. I know what you want to discuss, so let’s start.
2. Very well, but if you can’t give discounts I’m sure you can
c. I can reduce the price. Does that help?
3. If you can’t accept this, I may have to reconsider my position.
d. Delivery? That’s no problem; no extra charge.
4. I think we can agree on these terms.
f. It’s against your policy to give discounts? OK.
5. I’m afraid that will not be possible.
g. What a ridiculous idea! Don’t be stupid!
6. May we go through the points to be discussed before we begin?
h. Another half per cent? Yes, that’s very generous offer you’re
7. Half per cent is very small amount
i. This is my final offer. If you refuse, I’ll cancel everything.
8. Delivery? Well it may be possible but only if…

Exercise 3 When things get difficult
In their negotiation exercises the managers on Dr Zap’s seminar
sometimes find themselves in difficult situations. As they are all from
English-speaking countries they know what to say.

Could you give me a moment to do some calculations?
Certainly! Would you excuse me a minute?
Would you like me to go through that again?
I’m sorry, could you go through that again?
I don’t think we’re talking about the same thing.
That’s right! We’re talking at cross-purposes.
Can we say it’s agreed, here and now?
I’ll have to come back to you on this.
Where does the January figure come from?
I’m just looking. Could you bear with me a moment?
So what is the basis of calculation?
I’m sorry, I don’t have the figures to hand.

Which expression would you use in the following cases?
a. The other person does not seem to understand your explanation of
the payment schedules.
b. He wants you to agree a definite price today, but you need to
consult your boss at the office before committing yourself.
c. He suddenly asks you what discount you would make for a very
large order indeed. You need a minute to work it out.
d. You are rather surprised at the high charge for transport.
e. He suddenly asks the price of similar products in the range. You
have the price list in your briefcase – somewhere.
f. You think he has just made up the figure for installation costs!
g. He has already explained the commission system twice but you
are still not really clear about it.

Understanding contracts

Exercise 4 Vocabulary for contracts
The words below are often used in connection with contracts. Use
some of them to complete the sentences which follow. You may need
to put certain words in the plural.



draw up
provide for
comply with/abide by
out of court


a. A contract is an ---------- between two ----------- . It is divided into
---------- , ------------ , and ------------ .
b. The contract --------- ---------- any problems between the two
parties. The conditions of the contract are --------- on both parties.
If one party does not ----------- ----------- the clauses, this is called
a --------- of contract.
c. In the case of a dispute, many contracts provide for ----------, but
in some cases the dispute results in ---------- . Most parties reach a
--------- without going to --------- , and the dispute is settled ------------- ---------- .
d. Some contracts are for a fixed period, or --------- ; also, there are
ways in which the parties can end, or ---------, the contract.

Exercise 5 Licensing terms
You have asked a US firm if you could make one of its products under
licence, in your own country. Here is part of their answer. But what do
the legal terms really mean? Replace the underlined terms with the
phrases listed below.

We’ve checked with our legal department. Yes, we are the patent
holders for the XT7. We are prepared, in fact, to grant you a licence
to make it in your own territory on these conditions: there would be a
fee on agreement and then a royalty of 5 % with a minimum annual
royalty of $50,000. The term would be four years, with the possibility
of renewal on expiry. And, of course, in the event of any infringement,
as our licensee you would have to apply for an injunction on the
infringer’s production.


Let you have
yearly bottom limit
illegal copying
Official manufacturer
have the legal rights over
Further years
Ask for a ban
when it ended
An immediate payment
5 % to pay

6. Management
13. What is management?


What do you think makes a good manager? Which four of the
following qualities do you think are the most important?
A being decisive: able to make quick decisions
B being efficient: doing things quickly, not leaving tasks unfinished,
having a tidy desk, and so on
C being friendly and sociable
D being able to communicate with people
E being logical, rational and analytical
F being able to motivate and inspire and lead people
G being authoritative: able to give orders
H being competent: knowing one’s job perfectly, as well as the work
of one’s subordinates
I being persuasive: able to convince people to do things
J having good ideas
• Reading
This text summarizes some of Peter Drucker’s views on
management. As you read about his description of the work of a
manger, decide whether the five different functions he mentions
require the four qualities you selected in your discussion, or
others you did not choose.


Peter Drucker, the well-known American business professor
and consultant, suggests that the work of a manager can be divided
into planning (setting objectives), organizing, integrating (motivating
and communicating), measuring, and developing people.
First of all, managers (especially senior managers such as
company chairmen – and women – and directors) set objectives, and
decide how their organization can achieve them. This involves
developing strategies, plans and precise tactics, and allocating
resources of people and money.
Secondly, managers organize. They analyse and classify the
activities of the organization and the relations among them. They
divide the work into manageable activities and then into individual
jobs. They select people to manage these units and perform the jobs.
Thirdly, managers practice the social skills of motivation and
communication. They also have to communicate objectives to the
people responsible for attaining them. They have to make the people
who are responsible for performing individual jobs form teams. They
make decisions about pay and promotion. As well as organizing and
supervising the work of their subordinates, they have to work with
people in other areas and functions.
Fourthly, managers have to measure the performance of their
staff, to see whether the objectives set for the organization as a whole
and for each individual member of it are being achieved.
Lastly, managers develop people – both their subordinates and
Obviously, objectives occasionally have to be modified or
changed. It is generally the job of a company’s top managers to
consider the needs of the future, and to take responsibility for
innovation, without which any organization can only expect a limited
life. Top managers also have to manage a business’s relations with
customers, suppliers, distributors, bankers, investors, neighbouring
communities, public authorities, and so on, as well as deal with any
major crises which arise. Top managers are appointed and supervised
and advised (and dismissed) by a company’s board of directors.
Although the tasks of a manager can be analyzed and
classified in this fashion, management is not entirely scientific. It is
human skill. Business professors obviously believe that intuition and
‘instinct’ are not enough; there are management skills that have to be
learnt. Drucker, for example, wrote over 20 years ago that ‘ Altogether

this entire book is based on the proposition that the days of the
“intuitive” manager are numbered’, meaning that they were coming to
an end. But some people are clearly good at management, and others
are not. Some people will be unable to put management techniques
into practice. Others will have lots of technique, but few good ideas.
Outstanding managers are rather rare.
• Vocabulary
a. Complete the following sentences with these words.
board of directors


1 Managers have to decide how best to allocate the human, physical
and capital …….. available to them.
2 Managers – logically – have to make sure that the jobs and tasks
given to their subordinates are …….. .
3 There is no point in ……. objectives if you don’t ……… them to
your staff.
4 Managers have to ……. their subordinates, and to measure, and try
to improve, their ……… .
5 Managers have to check whether objectives and targets are being
……. .
6 A top manager whose performance is unsatisfactory can be
dismissed by the company’s ………. .
7 Top managers are responsible for the ………. that will allow a
company to adapt to a changing world.

b. The text contains a number of common verb-noun partnerships
(e.g. achieve objectives, deal with crises, and so on).

Match up these verb and nouns to make common collocations.



14. Types of Managers
We have been using the term manager to mean anyone who is
responsible for subordinates and other organizational resources. There
are many different types of managers, with diverse tasks and
responsibilities. Managers can be classified in two ways: by their level
in the organization – so-called first-line, middle, and top managers –
and by the range of organizational activities for which they are
responsible – so-called functional and general managers.

Management Levels
First-Line Managers. The lowest level in an organization at which
individuals are responsible for the work of others is called first-line or
first-level management. First-line managers direct operating
employees only; they do not supervise other managers. Examples of
first-line managers are the “foreman” (maistru) or production
supervisor (şef de producŃie) in a manufacturing plant, the technical
supervisor (şef de echipă) in a research department, and the clerical
supervisor (şef de birou) in a large office. First-level mangers are
often called “supervisors.”
Middle Managers. The term middle management can include to more
than one level in an organization. Middle managers direct the
activities of lower-level managers and sometimes also those of
operating employees. Middle managers’ principal responsibilities are
to direct the activities that implement their organizations’ policies and
to balance the demands of their superiors with the capacities of their


Top Managers. Composed of a comparatively small group of
executives, top management is responsible for the overall
management of the organization. It establishes operating policies and
guides the organization’s interactions with its environment. Typical
titles of top managers are “chief executive officer”, “president” and
“senior vice-president”. Actual titles vary from one organization to
another and are not always a reliable guide to membership in the
highest management classification.
Functional and General Managers
The other major classification of managers depends on the scope of
the activities they manage.
Functional Managers. The functional manager is responsible for
only one organizational activity, such as production, marketing, sales,
or finance. The people and activities headed (a conduce) by a
functional manager are engaged in a common set of activities.
General Managers. The general manager, on the other hand,
oversees (a supraveghea) a complex unit, such as a company, a
subsidiary, or an independent operating division. He or she is
responsible for all the activities of that unit, such as its production,
marketing, sales, and finance.
A small company may have only one general manager – its
president or executive vice-president – but a large organization may
have several, each at the head of a relatively independent division. In a
large food company, for example, there might be a grocery-production
division, a refrigerated-products division, and a frozen-food-products
division, with a different general manager responsible for each. Like
the chief executive of a small company, each of these divisional heads
would be responsible for all the activities of the unit.
chief executive officer = director executiv
senior vice-president = vice-preşedinte senior (mai important decât cel
president = preşedinte
executive vice-president – vice-preşedinte executiv
chief executive = director sau administator al unei firme

15. The Management Process
Plans give the organization its objectives and set up the best
procedures for reaching them. In addition, plans become the guides by
which the organization obtains and commits (a angaja) the resources
required to reach its objectives, members of the organization carry on
activities consistent with (concordant cu) the chosen objectives and
procedures, and progress toward the objectives is monitored and
measured, so that corrective action can be taken if progress is
The first step in planning is the selection of goals for the
organization. Then objectives are established for the subunits of the
organization – its divisions, departments, and so on. Once the
objectives are determined, programs are established for achieving
them in a systematic manner. Of course, in selecting objectives and
developing programs, the manager considers their feasibility and
whether will be acceptable to the organization’s managers and
Plans made by top management for the organization as a
whole may cover periods as long as five or ten years. In a large
organization, such as a multinational energy corporation, those plans
may involve commitments (angajamente) of billions of dollars.
Planning at the lower levels, by middle or first-line managers, covers
much shorter periods. Such plans may be for the next day’s work, for
example, or for a two-hour meeting to take place in a week.
Once managers have established objectives and developed
plans or programs to reach them, they must design and staff an
organization able to carry out those programs successfully. Different
objectives will require different kinds of organizations. For example,
an organization that aims to develop computer software will have to
be far different from one that wants to manufacture blue jeans.
Producing a standardized product like blue jeans requires efficient
assembly-line techniques, whereas writing computer programs
requires teams of professionals – systems analysts, software engineers,
and operators.

Although they must interact effectively, such people cannot be
organized on an assembly-line basis. It is clear, then, that managers
must have the ability to determine what type of organization will be
needed to accomplish a given set of objectives. And they must have
the ability to develop (and later to lead) that type of organization.
After plans have been made, the structure of the organization
has been determined, and the staff has been recruited and trained, the
next step is to arrange for movement toward the organization’s
defined objectives. This function can be called by various names:
leading, directing, motivating, actuating (impulsionare, stimulare),
and others. But whatever the name used to identify it, this function
involves getting the members of the organization to perform in ways
that will help it achieve its established objectives.
Whereas planning and organizing deal with the more abstract
aspects of the management process, the activity of leading is very
concrete; it involves working directly with people.
Finally, the manager must ensure that the actions of the
organization’s members do in fact move the organization toward its
stated goals. This is the controlling function of management, and it
involves four main elements:
Establishing standards of performance.
• Measuring current performance and comparing it against the
established standards.
• Detecting deviations from standard goals in order to make
corrections before a sequence (succesiune, şir) of activities is
• Taking action to correct performance that does not meet those
• Through the controlling function, the manager can keep the
organization on its chosen track, keeping it from straying (a se
depărata, a se abate) from its specified goals.


16. Management Level and Skills
Managers at every level plan, organize, lead, and control. But
they differ in the amount of time devoted to each of these activities.
Some of these differences depend on the kind of organization in which
the manager works, some on the type of job the manager holds.
Managers of small private clinics, for example, spend their
time quite differently from the way the heads of large research
hospitals spend theirs: Managers of clinics spend comparatively more
time practicing medicine, and less time actually managing, than do
directors of large hospitals. The technical supervisor of research
physicists at AT&T Bell Labs will have a job that in some respects is
quite different from that of a production supervisor on a General
Motors assembly line. Yet both are first-line managers. And yet there
will also be important similarities in the jobs of all these managers.
Other differences in the ways managers spend their time
depend upon their levels in the organizational hierarchy. Robert L.
Kats, a teacher and business executive, has identified three basic kinds
of skills: technical, human, and conceptual. Every manager needs all
three. Technical skill is the ability to use the procedures, techniques,
and knowledge of a specialized field. Surgeons, engineers, musicians,
and accountants all have technical skills in their respective fields.
Human skill is the ability to work with, understand, and motivate other
people, as individuals or in groups. Conceptual skill is the ability to
coordinate and integrate all of an organization’s interests and
activities. It involves the manager’s ability to see the organization as a
whole, to understand how its parts depend on one another, and to
anticipate how a change in any of its parts will affect the whole.
Kats suggests that although all three of these skills are
essential to a manager, their relative importance depends mainly on
the manager’s rank in the organization. Technical skill is most
important in the lower levels. Human skill, by contrast, is important
for managers at every level: because they must get their work done
primarily through others, their ability to tap (a capta, a aborda) the
technical skills of their subordinates is more important than their own
technical skills. Finally, the importance of conceptual skill increases
as one rises through the ranks of a management system based on
hierarchical principles of authority and responsibility. It depends
mainly on the manager’s rank in the organization.

7. Companies and Organizations
17. Company structure
• Vocabulary
Match up the words on the left with the definitions on the right
1 autonomous
2 decentralization
3 function
4 hierarchy
5 line authority
6 report to
7 subordinates

A a system of authority with different levels,
one above the other
B a specific activity in a company, e.g.
production, marketing, finance
C independent, able to take decisions without
consulting a higher authority
D people working under someone else in a
E dividing an organization into decisionmaking units that are not centrally controlled
F the power to give instructions to people at
the level below in the chain of command
G to be responsible to someone and to take
instructions from him or her

• Reading
Read the text below, about different ways of organizing
companies, and then label the diagrams, according to which of
these they illustrate:
Line structure / functional structure / matrix structure / staff





Most organizations have hierarchical or pyramidal structure,
with one person or a group of people at the top, and an increasing
number of people below them at each successive level. This is a clear
line or chain of command running down the pyramid. All the people
in the organization know what decisions they are able to make, who
their superior (or boss) is (to whom they report), and who their
immediate subordinates are (to whom they can give instructions).
Some people in an organization have colleagues who help
them: for example, there might be an Assistant to the Marketing
Manager. This is known as a staff position: its holder has no line
authority, and is not integrated into the chain of command, unlike, for
example, the Assistant Marketing Manager, who is number two in the
marketing department.
Yet, the activities of most companies are too complicated to
be organized in a single hierarchy. Shortly before the First World
War, the French industrialist Henry Fayol organized his coal-mining
business according to the functions that it had to carry out. He is
generally credited with inventing functional organization. Today, most
large manufacturing organizations have a functional structure,
including (among others) production, finance, marketing, sales, and
personnel or staff departments. This means, for example, that the
production and marketing departments cannot take financial decision
without consulting the finance department.
Functional organization is efficient, but there are two standard
criticisms. Firstly, people are usually more concerned with the success
of their department than that of the company, so there are permanent
battles between, for example, finance and marketing, or marketing and
production, which have incompatible goals. Secondly, separating
functions is unlikely to encourage innovation.
Yet, for a large organization manufacturing a range of
products, having a single production department is generally

inefficient. Consequently, most large companies are decentralized,
following the model of Alfred Sloan, who divided General Motors
into separate operating divisions in 1920. Each division had its own
engineering, production and sales departments, made a different
category of car (but with some overlap (suprapunere,
întrepătrundere), to encourage internal competition), and was
expected to make a profit.
Business that cannot be divided into autonomous divisions
with their own markets can simulate decentralization, setting up
divisions that deal with each other using internally determined transfer
prices. Many banks, for example, have established commercial,
corporate, private banking, international and investment divisions.
An inherent problem of hierarchies is that people at lower
levels are unable to make important decisions, but have to pass on
responsibility to their boss. One solution to this is matrix management,
in which people report to more than one superior. For example, a
product manager with an idea might be able to deal directly with
managers responsible for a certain market segment and for a
geographical region, as well as the managers responsible for the
traditional functions of finance, sales and productions. This is one way
of keeping authority at lower levels, but it is not necessarily a very
efficient one. Thomas Peters and Robert Waterman, in their wellknown book In Search of Excellence, insist on the necessity of
pushing authority and autonomy down the line, but they argue that one
element – probably the product – must have priority; four-dimensional
matrices are far too complex.
A further possibility is to have wholly autonomous, temporary
groups or teams that are responsible for an entire project, and are split
up (a se diviza, a se împărŃi) as soon as it is successfully completed.
Teams are often not very good for decision-making, and they run the
risk or relational problems, unless they are small and have a lot of
self-discipline. In fact, they still require a definite leader, on whom
their success probably depends.


Describing company structure

The most common verbs for describing structure are:
Consists of
Is composed of
is made up of
is divided into
e.g. The company consists of five main departments.
The marketing department is made up of three units.
Other verbs frequently used to describe company organization
To be in charge of
to be responsible for
To support or to be supported by
to assist or to be assisted by
To be accountable to
e.g. The marketing department is in charge of the sales force.
The five department heads are accountable to the Managing Director.
This is an example of part of a company organization chart:
Board of Directors
with a Chairman (GB)
or President (US)

Managing Director (GB)
Chief Executive Officer (US)

Production Marketing




Research &





Now write a description of either the organization chart above, or a
company you know, in about 100-150 words.

18. The External Environment of Organizations

The many rapid changes taking place in the external environment
of organization require increasing attention from managers. The
direct-action component of the environment consists of the
organization’s stakeholders – that is, the groups with direct impact on
the organization’s activities. External stakeholders include customers,
suppliers, governments, consumer and environmental advocates,
special interest groups, labor unions, financial institutions, the media,
and competitors. Internal stakeholders include employees,
shareholders, and the board of directors.
Managers must balance the interests of the various stakeholders
for the good of the organization as a whole. They may be able to use
the network of relationships among the stakeholders and the
organization to influence stakeholders individually. For their part,
stakeholders may unite in coalitions to exert over (a exercita, a face uz
de influenŃă) the organization. Individual stakeholders may also hold
conflicting stakes (interes, participare) in an organization.
The indirect-action component of the environment consists of
their factors that influence the organization indirectly. Not only do
these factors create a climate to which the organization must adjust,
but they have the potential to move into the direct-action environment.
Demographic and lifestyle variables mold (a forma, a modela)an
organization’s labor supply and customer base, and changes in values
are at heart of every other social, economic, political, and
technological change. Managers must distinguish between and adjust
to structural and cyclical changes in the economy. In addition, they
must contend with (a lupta cu) the growing influence of special
interest groups in politics, and technological developments also fuel
the competition between organizations.
Technological advances in communication and transportation
have made the international environment increasingly important.
Greater international competition has made the U.S. lag (a întârzia, a
rămâne în urmă) in competitiveness critical, and has also blurred (a
întuneca, a pune în ceaŃă) the distinction between the private and
public sectors.

The environment determines the extent to which (gradul în care)
organizations face uncertainty and to which they are dependent on
others for vital resources. In turbulent environments, organizations
must devote more of their resources to monitoring the environment.
The natural-selection, resource-dependence, and industrialorganization models provide alternative views of the relationship
between organizations and the environment.
Managers – especially at higher levels – must monitor the external
environment and try to forecast changes that will affect the
organization. They may use strategic planning and organizational
design to adjust to the environment.

8. Production and products
• Vocabulary
a. Match up these words with the definitions which follow.

lead time
subcontractor outsourcing or contracting out

1. any company that provides goods or services for another one
2. any of the pieces or parts that make up a product, machine, etc.
3. buying products or processed materials from other companies
rather than manufacturing them
4. the (maximum) rate of output that can be achieved from a
production process
5. the buildings, machines, equipment and other facilities used in the
production process
6. the geographical situation of a factory or other facility
7. the stock of any item or resource used in an organization
(including raw materials, parts, supplies, work in process and
finished products)
8. the time needed to perform an activity (i.e. to manufacture or
deliver something)


b. After it has been decided what to manufacture, operations
managers have to decide where to manufacture the different
products, how much productive capacity their factories and plants
should have, and how much inventory to maintain. Read the 15
sentences below, and classify them under the following six
headings. Some sentences may fall under two headings.
A The consequences of insufficient capacity
B The consequences of excess capacity
C The advantages of large facilities
D The disadvantages of large facilities
E The advantages of having a large inventory
F The disadvantages of having a large inventory
1. A long lead time may allow competitors to enter the market.
2. Average fixed cost per unit drops as volume increases because
each succeeding unit absorbs part of the fixed costs, giving
economies of scale.
3. Finding staff and coordinating material flow become expensive
and difficult.
4. If lead time increases, some customers may go to other suppliers.
5. Lost sales and market share are usually permanent.
6. The working environment might worsen and industrial relations
7. There are costs of storage, handling, insurance, depreciation, the
opportunity cost of capital, and so on.
8. You can be more flexible in product scheduling, and have longer
lead times and lower cost operation through larger production runs
with fewer set-ups.
9. There is always a risk of obsolescence, theft, breakage, and so on.
10. You can meet variation in product demand.
11. You may be under-utilizing your work force.
12. You have protection against variation in raw material delivery
time (due to shortages, strikes, lost orders, incorrect or defective
shipments, etc.)
13. You may be forced to produce additional less profitable products.
14. You can take advantage of quantity discounts in purchasing.
15. You may have to reduce prices to stimulate demand.


19. Just-in-time production

Read the text below, and insert the eight words defined in
vocabulary a) in the spaces.




lead time

Manufacturing companies are faced with a ‘make-or-buy
decision’ for every item or (1) ………. they use (as well as for every
process and service). Do they make it themselves or do they outsource
(a contracta lucrări în afara companiei), and buy from a (2) ………?
If a company assembles products supplied by a large number of
subcontractors (furnizor intermediar), they face the problem of how
much (3) ……. they require.
In Just-In-Time (JIT) production – also called lean production,
stockless production, and continuous flow manufacture – nothing is
bought or produced until it is needed. Each section of the production
process makes the necessary quantity of the necessary units at the
necessary time – which is when it is required by the next stage of the
manufacturing process, or by distributors or customers.
The JIT system is usually credited to Taiichi Ohno, who was vicepresident for manufacturing with Toyota in Japan in the early 1950s –
although he stated that he got the idea from American supermarkets!
JIT is wholly contrary to the European and American logic of
encouraging greater productivity, and welcoming production that
exceeds the agreed schedule or quota, and stocking extras in case of
the future problems.
JIT minimizes the cost of holding inventories, which are regarded
negatively, as avoidable costs, rather than as assets. The large
Japanese manufacturing companies have long practised (4)…………,
and generally use extensive networks of small subcontractors. Of
course, if a single subcontractor fails to deliver a component on time,
the whole production process is sabotaged, but the Japanese industrial
system relies on mutual trust and long-term relationships. Small
suppliers often attempt to situate their facilities close to the (5).………
of a larger company with which they work.
The Japanese also prefer small, specialized production (6)….……
with a limited (7)…….. , in which, wherever possible, all the
machines required for a certain job are grouped together. This avoids

all the waiting and moving time involved in sending half-finished item
from one department to another, although it often requires flexible,
multi-skilled employees.
JIT thus greatly reduces transportation and inventory costs, and
should ensure that there is no waste from overproduction, or from idle
workers waiting for parts. It allows increased productivity because of
shortened throughput time (timpul de prelucrare a materialelor). If
factories are equipped so that set-up times are short, very small
production runs (etape de producŃie) are possible. Any quality
problems or product defects should be noticed more quickly,
production (8)……… (timpul de conducere a producŃiei) are reduced,
and the firm can react more rapidly to demand changes.

20. Products and brands
Read the following text, and write a brief heading for each
1 ………………………………
Marketing theorists tend to give the word product a very broad
meaning, using it to refer to anything capable of satisfying a need or
want. Thus services, activities, people (politicians, athletes, film stars),
places (holiday resorts), organizations (hospitals, colleges, political
parties), and ideas, as well as physical objects offered for sale by
retailers, can be considered as products. Physical products can usually
be augmented (a spori, a creşte) by benefits such as customer advice,
delivery, credit facilities, a warranty or guarantee, maintenance, aftersales service, and so on.
2 ………………………………
Some manufactures use their name (the ‘family name’) for all
their products, e.g. Philips, Colgate, Yamaha. Others, including
Unilever and Procter & Gamble, market various products under
individual brand names, with the result that many customers are
unfamiliar with the name of the manufacturing company. The major
producers of soap powders, for example, are famous for their multibrand strategy, which allows them to compete in various market
segments, and to fill shelf space in shops, thereby leaving less room

for competitors. It also gives them a greater chance of getting some of
the custom of brand-switchers (cei care schimbă mărcile pe care le
3 ………………………………
Most manufactures produce a large number of products, often
divided into product lines. Most product lines consist of several
products, often distinguished by brand names, e.g. a range of soap
powders, or of tooth-pastes. Several different items (different sizes or
models) may share the same brand name. Together, a company’s
items, brands and products constitute its product mix. Since different
products are always at different stages of their cycles, with growing,
stable or declining sales and profitability, and because markets,
opportunities and resources are in constant evolution, companies are
always looking to the future, and re-evaluating their product mix.
4 …………………………………
Companies whose objectives include market share and market
growth generally have long product lines, i.e. a large number of items.
Companies whose objective is high profitability will have shorter
lines, including only profitable items. Yet, most product lines have a
tendency to lengthen over time, as companies produce variations on
existing items, or add additional items to cover further market
segments. Additions to product lines can be the result of either upmarket or down-market, i.e. making items of higher or lower quality.
This can be carried out in order to reach new customers, to enter
growing or more profitable market segments, to react to competitors’
initiatives, and so on. Yet, such moves may cause image problems:
moving to the lower end of the market dilutes (a slăbi, a dilua) a
company’s image for quality, while a company at the bottom of a
range may not convince dealers and customers that it can produce
quality products for the high end. Line-filling – adding further items in
that part of a products range which a line already covers – might be
done in order to compete in competitors’ niches (nişă), or simply to
utilize excess production capacity.


• Vocabulary
Find words or expressions in the text which mean the following.
1 the possibility of paying for a product over an extended period
2 a promise by a manufacturer or seller to repair or replace defective
goods during a certain period of time
3 a surface in a store on which goods are displayed
4 consumers who buy various competing products rather than being
loyal to a particular brand
5 the standard pattern of sales of a product over the period that is
6 the extend to which an activity provides financial gain
7 possibilities of filling unsatisfied needs in sectors in which the
company can produce goods or services effectively
8 the sales of a company expressed as a percentage of total sales in a
given market
9 the set of beliefs that the public at large holds of an organization
10 a small, specialized, but profitable segment of a market

9. Marketing, Advertising, Promotion
• Vocabulary
Match up the words or expressions on the left with the definitions on
the right.
1 distribution channel

2 to launch a product

3 market opportunities
4 market research

A all the companies or individuals
involved in moving a particular good
or service from the producer to the
B an idea for a new product, which is
tested with target consumers before
the actual product is developed
C attributes or characteristics of a
product: quality, price, reliability, etc.
D dividing a market into distinct
groups of buyers who have different
requirements or buying habits


5 market segmentation

6 packaging

7 points of sale

8 product concept

9 product features
10 sales representative

E places where goods are sold to the
public – shops, stores, kiosks, market
stalls, etc.
F possibilities of filling unsatisfied
needs in sectors in which a company
can profitably produce goods or
G someone who contacts existing and
potential customers, and tries to
persuade them to buy goods or
H collecting, analysing and reporting
data relevant to a specific marketing
situation (such as a proposed new
I to introduce a new product onto the
J wrappers and containers in which
products are sold

21. The centrality of marketing
Look quickly through the following text and decide which
paragraphs are about these subjects:
- company-to-company marketing
- identifying market opportunities
- the marketing mix
- the selling and marketing concepts
- the importance of market research
Most management and marketing writers now distinguish between
selling and marketing. The ‘selling concept’ assumes that resisting
consumers have to be persuaded by vigorous hard-selling techniques
to buy non-essential goods or services. Products are sold rather than
bought. The ‘marketing concept’, on the contrary, assumes that the
producer’s task is to find wants and fill them. In other words, you
don’t sell what you make, you make what will be bought. As well as
satisfying existing needs, marketers can also anticipate and create new
ones. The markets for the Walkman, video games, personal

computers, and genetic engineering, to choose some recent examples,
were largely created rather than identified.
Marketers are consequently always looking for market
opportunities – profitable possibilities of filling unsatisfied needs or
creating new ones in areas in which the company is likely to enjoy a
differential advantage, due to its distinctive competencies (the things it
does particularly well). Market opportunities are generally isolated by
market segmentation. Once a target market has been identified, a
company has to decide what goods or service to offer. This means that
much of the work of marketing has been done before the final product
or service comes into existence. It also means that the marketing
concept has to be understood throughout the company, e.g. in the
production department of a manufacturing company as much as in the
marketing department itself. The company must also take account of
the existence of competitors, who always have to be identified,
monitored and defeated in the search for loyal customers.
Rather than risk launching a product or service solely on the basis
of intuition or guesswork, most companies undertake market research
(GB) or marketing research (US). They collect and analyze
information about the size of a potential market, about consumers’
reactions to particular product or service features, and so on. Sales
representatives, who also talk to customers, are another important
source of information.
Once the basic offer, e.g. a product concept, has been established,
the company has to think about the marketing mix, i.e. all the various
elements of a marketing program, their integration, and the amount of
effort that a company can expend on them in order to influence the
target market. The best-known classification of these elements is the
‘4Ps’: product, place, promotion and price. Aspects to be considered
in marketing products include quality, features (standard and
optional), style, brand name, size, packaging, services and guarantee.
Place in a marketing mix includes such factors as distribution
channels, locations of points of sale, transport, inventory size, etc.
Promotion groups together advertising, publicity, sales promotion, and
personal selling, while price includes the basic list price, discounts,
the length of the payment period, possible credit terms, and so on. It is
the job of a product manager or a brand manager to look for ways to
increase sales by changing the marketing mix.
It must be remembered that quite apart from consumer markets (in
which people buy products for direct consumption) there exists an

enormous producer or industrial or business market, consisting of all
the individuals and organizations that acquire goods and services that
are used in the production of other goods, or in the supply of services
to others. Few consumers realize that the producer market is actually
larger than the consumer market, since it contains all the raw
materials, manufactured parts and components that go into consumer
goods, plus capital equipment such as building and machines, supplies
such as energy and pens and paper, and services ranging from
cleaning to management consulting, all of which have to be marked.
There is consequently more industrial than consumer marketing, even
though ordinary consumers are seldom exposed to it.
• Comprehension
Look at the following diagrams from Marketing Management by
Philip Kotler.
1 The first diagram contrasts the selling and the marketing concepts.
Fill in the four spaces with the following words or expressions:
□ Coordinated marketing
□ Market
□ Customer needs
□ Profits through customer satisfaction






Selling & promoting
through sales volume

a. The selling concept
(1) ………….. (2) …………… . (3) …………….. (4) ……………
b. The marketing concept
22. How companies advertise
Advertising informs consumers about the existence and
benefits of products and services, and attempts to persuade them to
buy them. The best form of advertising is probably word-of-word
advertising, which occurs when people tell their friends about the

benefits of products or services that they have purchased. Yet,
virtually no providers of goods or services rely on this alone, but use
paid advertising instead. Indeed, many organizations also use
institutional or prestige advertising, which is designed to build up their
reputation rather than to sell particular products.
Although large companies could easily set up their own
advertising departments, write their own advertisements, and buy
media space themselves, they tend to use the services of large
advertising agencies. These are likely to have more resources, and
more knowledge about all aspects of advertising and advertising
media than a single company. The most talented advertising people
generally prefer to work for agencies rather then individual companies
as this gives them the chance to work on a variety of advertising
accounts (contracts to advertise products or services). It is also easier
for a dissatisfied company to give its account to another agency than it
would be to fire its own advertising staff.
The client company generally gives the advertising agency an
agreed budget; a statement of the objectives of the advertising
campaign, known as a brief; and an overall advertising strategy
concerning the message to be communicated to the target customers.
The agency creates advertisements (the word is often abbreviated to
adverts or ads), and develops a media plan specifying which media –
newspapers, magazines, radio, television, cinema, posters, mail, etc. –
will be used and in which proportions. (On television and radio, ads
are often known as commercials.) Agencies often produce alternative
ads or commercials that are pre-tested in newspapers, television
stations, etc. in different parts of a country before a final choice is
made prior to a national campaign.
The agency’s media planners have to decide what percentage
of the target market they want to reach (how many people will be
exposed to the ads) and the number of times they are likely to see
them. Advertising people talk about frequency or ‘OTS’
(opportunities to see) and the threshold effect (efectul de pronire) –
the point at which advertising becomes effective. The choice of
advertising media is generally strongly influenced by the comparative
cost of reaching 1,000 members of the target audience, the cost per
thousand (often abbreviated to CPM, using the Roman numeral for
1,000). The timing of advertising campaigns depends on factors such
as purchasing frequently and buyer turnover (new buyers entering the

How much to spend on advertising is always problematic.
Some companies use the comparative-parity method (metoda
comparativ-analogică) – they simply match their competitors’
spending, thereby avoiding advertising wars. Others set their ad
budget at a certain percentage of current sales revenue. But both these
methods disregard (a nu Ńine seama, a neglija) the fact that increased
ad spending or counter-cyclical advertising (reclamă anticiclică) can
increase current sales. On the other hand, excessive advertising is
counter-productive (antiproductivă) because after too many exposures
people tend to stop noticing ads, or begin to find them irritating. And
once the most promising prospective customers have been reached,
there are diminishing returns, i.e. an ever-smaller increase in sales in
relation to increased advertising spending.
• Vocabulary
Find the terms in the text which mean the following.
1 free advertising, when satisfied customers recommend products to
their friends.
2 advertising that mentions a company’s name but not specific
3 companies that handle advertising for clients
4 a contract with a company to produce its advertising
5 the amount of money a company plans to spend in developing its
advertising and buying media time or space
6 the statement of objectives of an advertising campaign that a client
works out with an advertising agency
7 the advertising of a particular product or service during a particular
period of time
8 a defined set of customers whose needs a company plans to satisfy
9 the people who choose where to advertise, in order to reach the right
10 the fact that a certain amount of advertising is necessary to attract a
prospective customer’s attention
11 choosing to spend the same amount on advertising as one’s
12 advertising during periods or seasons when sales are normally
relatively poor

• Discussion
Which of the following claims do you agree with?
1. Advertising is essential for business, especially for launching new
consumer products.
2. A large reduction of advertising would decrease sales.
3. Advertising often persuades people to buy things they don’t need.
4. Advertising often persuades people to buy things they don’t want.
5. Advertising lowers the public’s taste.
6. Advertising raises prices.
7. Advertising does not present a true picture of products.
8. Advertising has a bad influence on children.
In a well-known survey, the Harvard Business Review asked 2,700
senior business managers whether they agree with these
statements. The survey produced some unexpected results. Which
of the following percentages do you think go with which of the
statements above?








23The four major promotional tools
Insert the following words in the text below.

aimed awareness

The basic idea behind the ‘marketing concept’ – that you
make what you can sell rather than sell what you make – does not
mean that your product will sell all by itself. Even a good, attractivelypriced product that clearly satisfies a need has to be made known to its
(1)………. Customers. During the introduction and growth stages of
the standard product life cycle, the producer (or importer, and so on)
has to develop product or brand (2)………. , i.e. inform potential
customers (and distributors, dealers and retailers) about the product’s
existence, its features, its advantages, and so on.
According to the well-known ‘Four Ps’ formulation of the
marketing mix (product, place, promotion and price), this is clearly a
matter of promotion. Since budgets are always limited, marketers

usually have to decide which tools – advertising, public relations,
sales promotion, or personal selling – to use, and in what proportion.
Public relations (often abbreviated to PR) is concerned with
maintaining, improving or protecting the image of a company or
product. The most important element of PR is publicity which (as
opposed to advertising) is any mention of company’s products that is
not paid for, in any (3)………. : read, viewed or heard by a company’s
customers or potential customers, aimed at assisting sales. Many
companies attempt to place stories or information in news media to
attract attention to a product or service. Publicity can have a huge
impact on public awareness that could not be achieved by advertising,
or at least, not without an enormous cost. A lot of research has shown
that people are more likely to read and believe publicity than
Sales promotions such as free samples, coupons, price
reductions, competitions, and so on, are temporary (4)……….
Designed to stimulate either earlier or stronger sales of a product. Free
samples, for example, (combined with extensive advertising), may
generate the initial (5)………. Of a new product. But the majority of
products available at any given time are of course in the (6)…………..
stage of the life cycle. This may last many years, until the product
begins to be replaced by new ones and enters the decline stage. During
this time, marketers can try out a number of promotional strategies
and tactics. Reduced-price packs in supermarkets, for example, can be
used to attract price-conscious brand-switchers, and, also, to counter
(a contracara) a promotion by a competitor. Stores also often reduce
prices of specific item as loss leader, which bring customers into the
shop where they will also buy other goods.
Sales promotions can also be (7)……….. at distributors,
dealer and retailers, to encourage them to stock new items or larger
quantities, or to encourage off-season buying, or the stocking of items
related to an existing product. They might equally be designed to
strengthen brand (8)………. Among retailers, or to gain entry to new
markets. Sales promotions can also be aimed at the sales force,
encouraging them to increase their activities in selling a particular
Personal selling is the most expensive promotional tool, and is
generally only used sparingly, e.g. as a complement to (9)……….. .
As well as prospecting for customers, spreading information about a
company’s products and services, selling these products and services,

and assisting customers with possible technical problems, salespeople
have another important function. Since they are often the only person
from a company that customers see, they are an extremely important
(10)………… of information. It has been calculated that the majority
of new product ideas come from customers via sales representatives.
• Summarizing
Complete the following sentences to summarize the text above.
1 When a new product is launched, the producer has to …..
2 Promotion is one of the four …. ; sales promotions are one of the
four different …….
3 The advantages of publicity include …..
4 The four stages of the standard product life cycle (excluding the prelaunched development stage) are ….
5 Reasons to offer temporary price reductions include ….
6 Sales promotions need not only be aimed at customers; ….
7 Apart from selling a company’s products, sales representatives ….
• Discussion
What kind of sales promotions are you receptive to?
■ coupons giving a price reduction?
■ free samples?
■ discounts for buying a large quantity?
■ price reductions in shops?
■ packets offering ‘20% Extra’?
■ competitions?
• Vocabulary
There is a logical connection among three of the four words in
each of the following groups. Which is the odd one out, and why?
1 advertising – competitors – publicity – sales promotion
2 advertising agency – advertising campaign – media plan – word-ofmouth advertising
3 advertising manager – brand-switcher – marketing manager – sales
4 after-sales service – guarantee – optional features – points of sale

5 brand awareness – brand loyalty – brand name – brand preference
6 competitions – coupons – free samples – line-stretching
7 credit terms – discount – list price – packaging
8 decline – growth – introduction – product improvement
9 focus group interviews – internal research – media plan –
10 packaging – place – product – promotion

10. Market structure and competition
24. Market leaders, challengers and followers
Read the following text and write short headings for each
1 ………………………………….
In most markets there is a definite market leader: the firm with
the largest market share. This is often the first company to have
entered the field, or at least the first to have succeeded in it. The
market leader is frequently able to lead other firms in the introduction
of new products, in price changes, in the level or intensity of
promotions, and so on.
2 ………………………………
Market leaders usually want to increase their market share
even further, or at least to protect their current market share. One way
to do this is to try to find ways to increase the size of the entire
market. Contrary to a common belief, wholly dominating a market, or
having a monopoly, is seldom an advantage: competitors expand
markets and find new uses and users for products, which enriches
everyone in the field, but the market leader more than its competitors.
A market can also be expanded by stimulating more usage: for
example, many households no longer have only one radio or cassette
player, but perhaps one in each room, one in the car, plus a Walkman
or two.
3 …………………………..
In many markets, there is often also a distinct market
challenger, with the second-largest market share. In the car hire
business, the challenger actually advertises this fact: for many years
Avis used the slogan ‘We’re number two. We try harder.’ Market

challengers can either attempt to attack the leader, or to increase their
market share by attacking various market followers.
4 …………………………..
The majority of companies in any industry are merely market
followers, which present no threat to the leader. Many market
followers concentrate on market segmentation: finding a profitable
niche in the market that is not satisfied by other goods or services, and
that offers growth potential or gives the company a differential
(distinctiv, deosebit) advantage because of its specific competencies.
5 ……………………………
A market follower, which does not establish its own niche is
in a vulnerable position: if its product does not have a ‘unique selling
proposition’ there is no reason for anyone to buy it. In fact, in most
established industries, there is only room for two or three major
companies: think of soft drinks, soap and washing powders, jeans,
sports shoes, and so on. Although small companies are generally
flexible, and can quickly respond to market conditions, their narrow
range of customers causes problematic fluctuations in turnover and
profit. Furthermore, they are vulnerable in a recession when, largely
for psychological reasons, distributors, retailers and customers all
prefer to buy from big, well-known suppliers.
• Vocabulary
Find words in the text which mean the following.
1 a company’s sales expressed as a percentage of the total market
2 short-term tactics designed to stimulate stronger sales of a product
3 the situation in which there is only one seller of a product
4 companies offering similar goods or services to the same set of
5 a short and easily memorized phrase used in advertising
6 the division of a market into submarkets according to the needs or
buying habits of different groups of potential customers
7 a small and specific market segment
8 a factor which makes you superior to competitors in a certain respect
9 a business’s total sales revenue
10 a period during which an economy is working below its potential


25. Takeovers, mergers and buyouts
• Vocabulary
Match up these words with the definitions below.
Backward integration to diversify (diversification)
Forward integration
horizontal integration to merge (a merger)
to innovate (innovation)
a raid a takeover bid
vertical integration
1 designing new products and bringing them to the market
2 to expand into new fields
3 to unite, combine, amalgamate, integrate or join together
4 buying another company’s shares on the stock exchange, hoping to
persuade enough other shareholders to sell to take control of the
5 a public offer to a company’s shareholders to buy their shares, at a
particular price during a particular period, so as to acquire a company
6 to merge with or take over other firms producing the same type of
goods or services
7 joining with other firms in other stages of the production or sale of a
8 a merger with or the acquisition of one’s suppliers
9 a merger with or the acquisition of one’s marketing outlets
10 combined production that is greater than the sum of the separate


Leveraged buyouts
One indication that the people who warn against takeovers
might be right is the existence of leveraged buyouts.
In the 1960s, a big wave of takeovers in the US created
conglomerates – collections of unrelated businesses combined into a
single corporate structure. It later became clear that many of these
conglomerates consisted of too many companies and not enough
synergy. After the recession of the early 1980s, there were many large
companies on the US stock market with good earnings but low stock
prices. Their assets were worth more than the companies’ market

Such conglomerates were clearly not maximizing stockholder
value. The individual companies might have been more efficient if
liberated from central management. Consequently, raiders (persoană
agresivă, acaparatoare) were able to borrow money, buy badlymanaged, inefficient and under-priced corporations, and then
restructure them, split them up, and resell them at a profit.
Conventional financial theory argues that stock markets are
efficient, meaning that all relevant information about companies is
built into their share prices. Raiders in the 1980s discovered that this
was quite simply untrue. Although the market could understand data
concerning companies’ earnings, it was highly inefficient in valuing
assets, including land, buildings and pension funds. Asset-stripping –
selling off the assets of poorly performing or under-valued companies
– proved to be highly lucrative (avantajos, profitabil).
Theoretically, there was little risk of making a loss with a
buyout, as the debts incurred (datoriile făcute) were guaranteed by the
companies’ assets. The ideal targets for such buyouts were companies
with huge cash reserves that enabled the buyer to pay the interest on
the debt, or companies with successful subsidiaries that could be sold
to repay the principal, or companies in fields that are not sensitive to a
recession, such as food and tobacco.
Takeovers using borrowed money are called ‘leveraged
buyouts’ or ‘LBOs’. Leverage (raportul dintre creanŃe şi capital)
means having a large proportion of debt compared to equity capital.
(Where a company is bought by its existing managers, we talk of a
management buyout or MBO.) Much of the money for LBOs was
provided by the American investment bank Drexel Burnham Lambert,
where Michael Millken was able to convince investors that the high
returns on debt issued by risky enterprises more than compensated for
their riskiness, as the rate of default (rata neonorării plăŃii) was lower
than might be expected. He created a huge and liquid market of up to
300 billion dollars for ‘junk bonds’ (obligaŃiuni cu risc). (Millken was
later arrested and charged (a fi acuzat) with 98 different felonies
(crime, acte penale), including a lot of insider dealing (operaŃiuni ale
unui iniŃiat, a unei persoane angajate în respectiva firmă), and Drexel
Burnham Lambert went bankrupt (a da faliment) in 1990.)
Raiders and their supporters argue that the permanent threat of
takeovers is a challenge to company managers and directors to do
their jobs better, and that well-run businesses that are not undervalues
are at little risk. The threat of raids forces companies to put capital to

productive use. Fat or lazy companies that fail to do this will be taken
over by raiders who will use assets more efficiently, cut costs, and
increase shareholder value. On the other hand, the permanent threat of
a takeover or a buyout is clearly a disincentive (mijloc de intimidare)
to long-term capital investment, as a company will lose its investment
if a raider tries to break it up as soon as its share price falls below
LBOs, however, seem to be largely an American
phenomenon. German and Japanese managers and financiers, for
example, seem to consider companies as places where people work,
rather than as assets to be bought and sold. Hostile takeovers and
buyouts are almost unknown in these two countries, where business
tends to concentrate on long-term goals rather than seek instant stock
market profits. Workers in these companies are considered to be at
least as important as shareholders. The idea of a Japanese manager
restructuring a company, laying off (a concedia temporar) a large
number of workers, and getting a huge pay rise (as frequently happens
in Britain and the US), is unthinkable. Lay-offs in Japan are instead a
cause for shame for which managers are expected to apologize.
• Summarizing
Complete the following sentences, which summarize the text
1 The fact that many large conglomerates’ assets were worth more
than their stock market valuation demonstrated that …
2 Raiders bought conglomerates in order to …
3 Raiders showed that the stock market did not …
4 Raiders were particularly interested in …
5 Investors were prepared to lend money to finance LBOs because …
6 Raiders argue that the possibility of a buyout …

26. Profits and social responsibility
In the 1920s, many large American corporations began, on a
wide scale, to establish pension funds, employee stock ownership, life
insurance schemes, unemployment compensation funds, limitations on
working hours, and high wages. They built houses, churches, schools
and libraries, provided medical and legal services, and gave money to

charities (acte filantropice). Since this is fairly surprising behavior for
business corporations, there must be a good explanation.
In the Generous Corporations, Neil J. Mitchell argues that the
reason for many of these actions, most of which clearly did not bring
immediate cash benefits, was that large corporations had a legitimacy
problem. The existence of large corporations showed the classical
economic theory of perfect competition to be inadequate.
Consequently large corporations introduced ‘welfare capitalism’
(capitalism social) as a way of creating favorable public opinion.
Rational capitalists starting with Henry Ford, also realized that a better
paid work force would be more loyal, and would be able to buy more
goods and services, and that a better educated work force would be a
more efficient one.
Of course, pure free market theorists disapprove of welfare
capitalism, and all actions inspired by ‘social responsibility’ rather
than the attempt to maximize profits. Since the benefits of such
initiatives are not confined to (a se limita la) those who bear the costs,
Milton Friedman has criticized them for being unbusinesslike, and for
threatening the survival not only of individual corporations but also
the general vitality of capitalism. In a newspaper article titled ‘The
social responsibility of business is to increase its profits’, he argued
In a free enterprise, private-property system, a corporate
executive is an employee of the owners of the business. He has direct
responsibility to his employers. That responsibility is to conduct the
business in accordance with their desires, which generally will be to
make as much money as possible, while of course confirming to the
basic rules of the society, both those embodied in law and those
embodied in ethical custom.
Thus executives should not make expenditures on reducing
pollution beyond the amount that is required by law or that is the best
interest of the firm. Nor should they deliberately hire less-qualified,
long-term unemployed workers, or workers from ethnic minorities
suffering from discrimination. To do so is to be guilty of spending the
stockholders’ (or the customers’ or the employees’) money. Friedman
does not consider the possibility that stockholders might prefer to
receive lower dividends but live in a society with less pollution or less
unemployment and fewer social problems.
An alternative view to the stockholder model exemplified by
Friedman’s article is the stakeholder (cei care deŃin un interes) model,

outlined, for example, in John Kenneth Galbraith’s book, The New
Industrial State. According to his approach, business managers have
responsibilities to all the groups of people with a stake in or an interest
in or a claim on the firm. These will include suppliers, customers,
employees, and the local community, as well as the stockholders. A
firm which is managed for the benefit of all its stakeholders, will not,
for example, pollute the area around its factories, or close down a
factory employing several hundred people in a small town with no
other significant employers, and relocate production elsewhere in
order to make small financial savings. Proponents of the stakeholder
approach suggest that suppliers, customers, employees, and members
of the local community should be strongly represented on a
company’s board of directors.
• Vocabulary
Find words or expressions in the text which mean the following.
1 institutions or organizations that provide help for people in need
2 acceptability, according to law or public opinion
3 the situation when there are a large number of sellers and buyers,
freedom to enter and leave markets, a complete flow of information,
and so on
4 a condition of general well-being (and government spending
designed to achieve this)
5 menacing, endangering
6 liveliness, health, energy, strength
7 an economic system in which anyone can attempt to raise capital,
form a business, and offer goods or services
8 complying with or following (rules, etc.)
9 expressed, given a material form
10 supporters, people who argue in favour of something


11. Money and Finance
27. A history of money – what makes the world go round
Money – it jingles in your pocket, it rustles in your wallet and
it clinks in your piggy-bank. Money makes the world go round, but
what’s it? It’s a store of value or a measure of wealth. Money is
anything that is generally accepted as payment for goods and
services. This is a wide definition and, over the centuries, money has
appeared in all shapes and sizes; cowrie shells in ancient China, huge
stone discs on a South Pacific Island or beads (Wampum) for the
North American Indians.

Jingle = a zornăi
Rustle = a foşni
Clink = a zăngăni
Piggy-bank = puşculiŃă
Cowrie = scoică, ghioc
Beads = mărgele, mătănii
Wampum = colier de scoici

From Chickens to Plastic
At the end of the day, of course, it doesn’t really matter what
shape or size the money takes, as long as everyone recognises it and
accepts it in payment. But, over the course of history, money has
predominantly been associated with metals, in particular gold, silver
and copper.
Bartering (troc)
Before metal money become the usual means of exchange,
people would swap (schimba) goods and services in a process known
as bartering – “I’ll swap you ten chickens for your goat”. This kind of
exchange does not really encourage trade, as all sorts of problems
arise; are all the chickens of the same size? If I’ve only got five
chickens, can I buy half a cow? Obviously, precious metals are a
practical alternative to payment in kind (în natură).

Four Essential Qualities
For money to be practical and efficient it should possess these
Durability – in prison, cigarettes may become a medium of exchange
– but they’re easy to break and quickly dry up; in other words, they
don’t last.
Portability – in some parts of Africa your wealth is measured in cattle.
This is fine if you’re trading locally, but if money isn’t easy to carry,
how can trade develop?
Divisibility – small units make life much easier – imagine trying to
buy a hot dog in New York if the $100 bill was the lowest unit of
Intrinsic value – money should have some worth in itself, otherwise it
won’t inspire confidence.
We first read of coins in the Kingdom of Lydia in the 7th
century BC. Their coins were of equal weight and therefore of equal
value, simplifying trade. Stamping a design onto the coins is called
“minting”; Alexander the Great introduced the practice of stamping a
picture of the sovereign’s head on the coins, an idea that was soon
Coins however, were not always as valuable as they seemed –
they were often clipped or shaved by unscrupulous individuals or
debased by the state. The Romans, with the economic pressure of the
Punic wars, began a long process of debasement, mixing more and
more copper in with the silver, so that the intrinsic value of the coin
was far lower than the marked face value.
Mint = a bate monedă
Debase = a devaloriza
Debasement = devalorizare
Clipped = retezat, scurtat
Shaved = redus
Paper Money
Bank notes were first introduced by the Chinese in the 10th
century. They were later used by governments in dire financial straits
(în dificultăŃi mari financiare) – caused by things like having to

finance a war, for example. The English colonies in North America
made important strides in the use of bank notes. For various political
and economic reasons, the Colonists often found themselves short of
coinage. To get round this problem, they used first wampum, then
tobacco, rice and whisky or brandy – not exactly the most practical
solution. The first paper money issue was by the Massachusetts Bay
Colony in 1690. The practice was frowned upon and eventually
banned by the mother country, but the inventive money-making
instincts of the new United States of America meant that, during the
19th century, most of the money used was in the form of paper dollars.
The first fully printed note in England was issued in 1855 – until that
time the cashier had to write the name of the payee and sign each note
At first, bank notes were redeemable for gold – on Bank of
England notes you will see written “I promise to pay the bearer on
demand the sum of…” If you took a ten-pound note to the Bank they
used to have to give you ten pounds in gold coin. Britain left the gold
standard in 1931 and thus the notes are no longer backed by gold.
Strides = progrese, paşi
Short of coinage = lipsă de monezi
Ban = a interzice, a scoate în afara legii
Frown upon = a nu fi de acord cu ceva
Redeem = a compensa, răscumpăra

Plastic money
Nowadays many transactions are carried out with “plastic
money” such as credit cards. The newest are called “smart cards” and
carry small silicon chips that can record every transaction on the card.
Research into the cards of the future continues, but the latest
development is e-cash, cash to be used across the Internet – you’ll be
able to spend money from the comfort of your armchair. If only
earning the damn stuff was so easy!


MONEY TALK – the language of cash
Money is so central to our lives that it has spawned (a
prolifera) a wealth of specific terminology, idioms and sayings. Great
thinkers in all ages have had something to say about it; governments
are elected on the strength of how they plan to manage it, empires rise
and fall because of it.
The Root of All Evil
Money is so important to us – people even say it makes the
world go round – that it has acquired many nicknames, such as bread,
dough, dinero, mazuma, spondulicks, rhino, gravy, dosh, lucre or
simply the necessary. Small amounts of it are chickenfeed or peanuts.
(în slang: lovele, biştari, parale, bani, câştig)
So what are you thinking about now? A penny for your thoughts! Oh,
I see, you like the look of that new jacket – it’ll cost you an arm and a
leg. I’m afraid, or, to put it another way, you’ll have to pay through
the nose for it.
You may like it so much you insist that money’s no object –
but don’t forget: money doesn’t grow on trees, so don’t live beyond
your means! If you do go ahead and buy that jacket, your friends will
tell you that you might as well flush it (the money) down the toilet.
So, if you can’t afford it, buy the cheapo version: you can bet your
bottom dollar that nobody will be able to tell the difference.
Of course your attitude to money depends, to a certain extend,
on how well off you are. You may be experiencing a liquidity
problem or a cashflow problem at the moment; in other words, you’re
strapped for cash, broke, or even flat broke. Perhaps you don’t have
a dollar to your name, you don’t have a red cent and you haven’t got
a bean, in which case you’re as poor as a church mouse!
If, on the other hand, you’ve got plenty of money then you’re
filthy rich, or stinking rich or rolling in it – perhaps you had some
good business ideas and put your money where your mouth is or
cashed in on a golden business opportunity and managed to get rich
quick, so now you’re laughing all the way to the bank.
You’ve got money to burn; you’re earning megabucks and,
now that you know its power, you believe what people say – money
talks! In spite of this, you might be so careful with money that people

think you’re mean or stingy (zgârcit). Perhaps they’ll call you a miser
behind your back; in the US you’d be called a tightwad (calic, avar).
You might reply that money doesn’t grow on trees – but then
others might say that you can’t take it with you (when you die) and so
they spend money as if it were going out of fashion. In this case,
money burns a hole in their pocket, and you would be the first to
remind them that a fool and his money are soon parted. If, on the
other hand, you look after the pennies, then the pounds will look
after themselves.

28. The profits of labor
Roman soldiers were given part of their pay in salt, as it was
so valuable – at least that’s the excuse the Senate gave!
At the time it was called their salario, and it is for this reason that we
still use the word salary to describe the regular monthly payment
made to employees – especially white-collars workers. If you receive
your pay every week, then you receive wages on payday, in the form
of a paycheck in the US, or a paypacket in the UK.
You may find that some of your money is taken from you
before you even see it, that is it is deducted at source; in the US these
deductions are known as deducks or ducks. They may be for tax and
also, in the UK, National Insurance, which means that your takehome pay may be a lot less than you expected!
Those who are unlucky enough not to have a job will be on
the dole – receiving unemployment benefit in the UK or on welfare in
the US. If you pay money for your retirement then your company
runs a pension scheme. If you work more than your normal hours,
then you’re paid overtime. If your company has been doing well, you
may get a bonus.
If you’re one of the bosses of a newly-privatised monopoly,
your employees may call you a fat cat, and part of your pay may take
the form of share options; when you started to work for the company
you were given a golden hello and, regardless of the company’s
performance, you will be given a golden handshake when you leave.
Perhaps you’re the kind of boss that never stops complaining about
your employees; if so remember: if you pay peanuts you get

You and your fellow top-managers are likely to enjoy a range
of fringe benefits or perks – like a free car, house and even private
education for your children. This is in lieu of money, and means that
you have a high standard of living without having to declare
hundreds of thousands of pounds at the end of the tax year. All the
expenses the company incurs on your behalf are also tax deductible
for the company, so it doesn’t lose out either.
When the time comes to retire, sooner rather then later, for the
lucky few who can choose early retirement, you may decide to take
your company pension in a lump sum – and finally you can go on that
world cruise!
White-collars workers = funcŃionari
On the dole = ajutor de şomaj, subvenŃie de la stat
On welfare = ajutor social
Share options =
Fringe benefit / perks = beneficiu suplimentar
In lieu of money = în loc de bani
Incur = a face, a crea
Lump sum = sumă globală / unică, plată unică

Many of us go to the bank at some point to ask for a loan – it
is often said that a bank manager is someone who lends you an
umbrella when the sun is shining and who asks for it back when it
starts to rain.
The simplest way to borrow is with an overdraft, or by using
the facilities offered by a credit card; but to borrow large sums you’ll
probably negotiate a loan with your bank; you can either borrow a
fixed amount or agree a credit limit.
If you’re buying a house, then you’ll want a mortgage. If the
bank refuses to lend you money, you might resort to borrowing from a
finance company or even the local loan shark to pay off your IOUs (I
Owe You). For any loan, you should look at the Annual Percentage
Rate which takes into account the various charges which will be
included in your repayments.
Borrowing from a loan shark can involve exorbitant interest
rates. If you’re being gouged in this way, then you may end up being
unable to make the repayments. Your debt may be sold to a debt

collector or you may receive a visit from the bailiffs in the UK. If
you’ve been buying something in instalments or on a hire purchase
(HP) scheme, defaulting on the repayments will probably lead to a
visit from the dreaded repo (repossesssion) man.
Gouged = escrocat, tras pe sfoară
Bailiff = inspector
Dreaded = de temut
With the invention of money came forgery. Modern
counterfeit notes can be extremely difficult to spot and new
developments in the production of notes are soon copied by the
forgers. Here’s a quick guide to recognizing a counterfeit Bank of
England note:
The feel of the paper: it should be crisp and slightly rough in the
heavily printed areas.
The watermark: you shouldn’t be able to notice it until you hold the
note up to the light; then you can see a picture of the Queen.
The thread: all genuine notes have a thread embedded in the paper.
Recent notes have a “windowed” thread which does not appear as a
continuous line until the note is held up to the light.
Quality of printing: pure, clear colours and sharp, well-defined lines.
Spot = a identifica, a distinge
Counterfeit notes = bancnote contrafăcute
Forgers = falsificatori
Crisp = fragil
Embedded = introdus
Hard Times
If you’ve fallen on hard times, you might tell people that you
need to watch your spending, your money or your pennies. In the
States, you might say that you have to watch every dime. Perhaps
your bank account is in the red, so you decide to control your
spending and keep track of your expenses more closely. This will
certainly involve cutting down on expenses in general, budgeting
your money, tightening your belt and saving your pennies.

Almost certainly you will have to cut the frills (unneccessary
expenditure), trim (reduce) the budget and go back to basics. If an
unexpected expense comes up that you have to meet, you might
decide to dip into your savings, or scrounge the money somehow.
If, on the other hand, you splash out on something
extravagant, you might justify the expense by telling people that
you’ve got enough saved up, that you’ve been saving for a rainy day
or that you’re lucky enough to have a nest egg that you’ve finally
decided to use.
Frills = fasoane, lucruri care nu sunt necesare
Scrounge = a şaprli, a şterpeli
Splash out = a se arunca

29. Accounting and financial statements
• Vocabulary
a. Match up the terms on the left with the definitions on the
1. Bookkeeping
A calculating an individual’s or a company’s liability for tax –
2. Accounting
B writing down the details of transactions (debits and credits) 3. Managerial accounting
C keeping financial records, recording income and expenditure,
valuing assets and liabilities, and so on
4. Cost accounting
D preparing budgets and other financial reports necessary for
5. Tax accounting
E inspection and evaluation of accounts by a second set of accountants
– audit
6. Auditing
F using all available accounting procedures and tricks to disguise the
true financial position of a company
7. ‘creative accounting’
G working out the unit cost of products, including materials, labour
and all other expenses

b. Match up these words with the definitions below
1. Assets
A a company’s owners
2. Depreciation
B all the money received by a company during a given period
3. Liabilities
C all the money that a company will have to pay to someone else in
the future, including taxes, debt, and interest and mortgage payments
4. Turnover
D the amount of business done by a company over a year
5. Creditors (GB) accounts payable (US)
E anything owned by a business (cash investments, buildings,
machines, and so on) that can be used to produce goods or pay
6. Debtors (GB) accounts receivable (US)
F the reduction in value of a fixed asset during the years it is in use
(charged against profits)
7. Overheads (GB) overhead (US)
G sums of money owed by customers for goods or services purchased
on credit
8. Revenue or earnings or income
H sums of money owed to suppliers for purchases made on credit
9. Shareholders (GB) stockholders (US)
I (the value of) raw materials, work in progress, and finished products
stored ready for sale
10. Stock (GB) inventory (US)
J the various expenses of operating a business that cannot be charged
to any one product, process or department
• Reading
Insert the words in vocabulary b) in the gaps in the text below.
Accounting and financial statements
In accounting it is always assumed that a business is a ‘going
concern’, i.e. that it will continue indefinitely into the future, which
means that the current market value of its assets is irrelevant, as they

are not for sale. Consequently, the most common accounting system is
historical cost accounting, which records (1) ………… at their
original purchase price, minus accumulated depreciation charges. In
times of inflation, this understates the value of appreciating assets
such as land, but overstates profits as it does not record the
replacement cost of plant or (2) ……… . The value of a business’s
assets under historical cost accounting – purchase price minus (3)
…….. – is known as its net book value. Countries with persistently
high inflation often prefer to use current cost or replacement cost
accounting, which values assets (and related expenses like
depreciation) at the price that would have to be paid to replace them
(or to buy a more modern equivalent) today.
Company law specifies that (4) ………. Must be given certain
financial information. Companies generally include three financial
statements in their annual reports.
The profit and loss account (GB) or income statement (US) shows
(5) ……….. and expenditure. It usually gives figures for total sales or
(6) ………. And costs and (7) ……… . The first figure should
obviously be higher than the second, i.e. there should be a profit. Part
of the profit goes to the government in taxation, part is usually
distributed to shareholders (stockholders) as dividend, and part is
retained by the company.
The balance sheet shows a company’s financial situation on a
particular date, generally the last day of the financial year. It lists the
company’s assets, its (8) ………… , and shareholders’ (stockholders)
funds. A business’s assets include (9) ……… as it is assumed that
these will be paid. Liabilities include (10) ……… , as these will have
to be paid. Negative items on financial statements, such as creditors,
taxation, and dividends paid, are usually enclosed in brackets.
In accordance with the principle of double-entry bookkeeping
(that all transactions are entered as credit in one account and as debit
in another), the basic accounting equation is Assets = Liabilities +
Owner’s (or Shares’) Equity. This can be rewritten as Assets –
Liabilities = Owners’ Equity or Net Assets. This includes share capital
(money received from the issue of shares), share premium (GB) or
paid-in surplus (US) (any money realised by selling shares at above
their nominal value), and the company’s reserves, including the year’s
retained profits. Shareholders’ equity or net assets are generally less
than a company’s market capitalisation (the total value of its shares at

any given moment, i.e. the number of shares times their market price),
because net assets do not record items such as goodwill.
The third financial statement has various names including the
source and application of funds statement, and the statement of
changes in financial position. This shows the flow of cash in and out
of the business between balance sheet dates. Sources of funds include
trading profits, depreciation provisions, sales of assets, borrowing, and
the issuing of shares.
Applications of funds include purchases of fixed or financial
assets, payment of dividends, repayment of loans, and – in a bad year
– trading losses.

The profit and loss account (GB) or income statement (US) –
calculul rezultatelor, al pierderilor şi a profitului
The balance sheet – bilanŃul contabil
Net Assets – activul net
Share capital – capitalul acŃinilor
Share premium (GB) or paid-in surplus (US) – primă suplimentară
din acŃiuni
Company’s reserves – rezervele firmei
The year’s retained profits – profitul păstrat dintr-un an
Goodwill – clientela; fondurile comerciale; vad
Source and application of funds statement / the statement of
changes in financial position – situaŃia surselor şi a aplicării
fondurilor / situaŃia schimbărilor din situaŃia financiară
• Vocabulary
There are ten gaps in the two statements which follow. According
to the information in the previous text, decide where the following
headings should appear:
Called-up share capital
cash in hand and at bank
Corporation tax
depreciation turnover
Freehold properties
historical cost net assets


The Arsenal Football Club PLC
Profit and Loss Account for the Year Ended 31st May 1994


[1 …………………….]
(income from football and related
activities: gate receipts, broadcasting,
ground advertisements, prize money)



Costs and [2 ………………………],
less other income (costs include
salaries, [3 …………………], auditors’
remuneration, and lease payments; other
income includes Interest Receivable)



Profit on Ordinary Activities before
Transfer Fees



Transfer fees payable



Profit on Ordinary Activities before








Profit after Taxation Retained for
The Financial Year

Arsenal Football Club PLC – Balance Sheet 31st May 1994



Fixed Assets
(including [4 ……………….],
leasehold properties, plant and
equipment, and motor vehicles;
all recorded at [5 ……………]
minus depreciation)



Current Assets
Stocks; (including [6 ………….],
Instalments on executive boxes);
and [7 …………….]



Amounts falling due within one
year (including [8 …………….]
and social security)



Total Assets less Current Liabilities
Long Term Liabilities
Amounts falling due after more than
One year (including debenture



(17,893,500) (11,923,100)

[9 ………………………..]


Capital and Reserves
[10 ………………………]
Share premium account
Building reserve
Profit and loss account
(year’s profit added to previous balance)





Shareholders’ Funds

30. Exchange rates
While reading the text, decide which paragraph could be given the
following headings.

Floating exchange rates
Intervention and managed floating exchange rates
Supporters of fixed and floating rates
The abolition of exchange controls
The period of gold convertibility
The power of speculators and the collapse of the EMS
Why many business people would prefer a single currency

The Bretton Woods agreement of 1944 established fixed
exchange rates, defined in terms of gold and the US dollar. Between
1944 and 1971, many currencies were pegged against (fixat, stabilizat
după) the US dollar, i.e. their parties with the US dollar were fixed. In
this period, a US dollar was a promissory note issued by the United
States Treasury. If anybody requested it, the Treasury had to exchange
the note for 1/35th of an ounce of gold. Under this system, overvalued
or undervalued currencies could only be adjusted with the agreement
of the International Monetary Fund. Such adjustments are called
devaluations and revaluations. The Bretton Woods system of gold
convertibility and pegging against the dollar was abandoned in 1971,
because following inflation, the Federal Reserve did not have enough
gold to guarantee the American currency.
Gold convertibility was replaced by a system of floating
exchange rates. (Today, the US dollar – the unofficial world currency
– is merely a piece of paper on which is written ‘In God We Trust.’
God, not gold!) a freely (or clean) floating exchange rate is
determined purely by supply and demand. Theoretically, in the
absence of speculation, exchange rates should reflect purchasing
power parity – the cost of a given selection of goods and services in
different countries. Proponents of floating exchange rates, such as
Milton Friedman, argued that currencies would automatically establish
stable exchange rates, which would reflect economic realities more
precisely than calculations by central bank officials. Yet, they
underestimated the impact of speculation, and the fact that companies
and investors frequently follow short-term money market trends even
if these are contrary to their own long-term interests.
In the late 1970s and early 1980s, the American, British and
other governments deregulated their financial systems, and abolished
all exchange controls. Residents in these countries are now able to
exchange any amount of their currency for any other convertible
currency. This has led to the current situation in which 95% of the
world’s currency transactions are unrelated to transactions in goods
but are purely speculative. Enormous amounts of money move round
the world, chasing high interest rates or capital gains, as investors –
including rich individuals, companies and pension funds – seek to
maximize the value of their assets. In London alone, over $300 billion
worth of currency is traded on an average day – the equivalent of
about 30% of the value of the goods Britain procedures each year.

Banks make a profit from the spread (marjă) between a currency’s
buying and selling prices.
Few governments, however, leave exchange rates wholly at
the mercy of market forces. Most of them attempt to influence the
level of their currency when necessary. Managed (or dirty) floating
exchange rates are more common than freely floating ones. In 1979,
most Western European governments joined the EMS (European
Monetary System), with its ERM (Exchange Rate Mechanism). This
established parties between member currencies, and a margin of plus
or minus 2 ¼ %. If the rate diverged by more than this amount from
the central parity, governments and central banks had to intervene in
exchange markets, buying or selling in order to increase or decrease
the value of their currency.
Yet, government policy can easily be defeated by the
combined action of international speculators. For example, on a single
day in September 1992 the Bank of England lost five billion pounds in
a hopeless attempt to support the pound sterling. For weeks, all the
world’s financial institutions and rich individuals had been selling
their pounds, as everyone except the British Government believed that
ever since it joined the ERM in 1990, the pound had been seriously
overvalued. When the British central bank ran out of reserves and
could no longer buy pounds, the currency was withdrawn from the
ERM and allowed to float, instantly losing about 15% of its value
against the D-mark. The next year, speculators attacked the French
franc, the Belgian franc, the Danish krone and the Spanish peseta. In
August 1993, the European Monetary System was more or less
Many manufacturers are in favour of fixed exchange rates, or
a single currency. Although it is possible to some extend to hedge
against (a se asigura împotriva) currency fluctuations by way of
futures contracts, forward planning is difficult when the price of raw
materials bought from abroad, or the price of your products in export
markets, can rise or fall by 50% in only a few months. (Since
exchange controls were abolished, currencies including the US$ and
the pound sterling have in turn appreciated by up to 100% and then
depreciated by more than 50% against the currencies of major trading
Other supporters of fixed exchange rates or a single currency
include extreme conservatives who want to return to something like
the gold standard, as well as people on the left who believe that

speculators have too much power. Supporters of flexible rates include
monetarists who want countries to follow strict monetary rules, as
well as Keynesians who want to be free to devalue in the attempt to
reduce unemployment. These are both rather surprising alliances,
which put into doubt the planned timetable for the introduction of a
Single European Currency.
• Comprehension
Are the following statements True or False?
1 Gold convertibility was abandoned because there was too much
2 It is now impossible to exchange dollars for gold.
3 Only a pegged currency can be devalued or revalued.
4 A floating currency can either appreciate or be devalued.
5 Central banks sometimes attempt to decrease the value of their
6 The EMS was designed to stabilize exchange rates.
7 To speculate is to take risks; to hedge is to try to avoid risks.
8 Under the system of floating exchange rates, currencies can
depreciate 100% in a short time.


1. Match up the half-sentences below.
1. To ‘peg’ a currency against something means to
A. the amount of a country’s money that residents were able to
change into foreign currencies.
2. A clean floating exchange rate
B. fix its value in relation to it.
3. Exchange controls used to limit
C. make a profit by making capital gains or by investing at higher
interest rates.
4. Speculators buy or sell currencies in order to
D. is determined by supply and demand.
5. ‘Market forces’ means

E. trying to insure against unfavourable price movements by way of
futures contract.
6. ‘Hedging’ means
F. the determination of price by supply and demand (the quantity
available and the quantity bought and sold).

2. Which six of these verbs are defined below?


adjust appreciate



1 to make changes to something
2 to change something into something else
3 to end something permanently
4 to end something temporarily
5 to go up or down (in quantity, value, etc.)
6 to move away from what is considered normal

12. Banking and taxation
• Vocabulary
Match up these terms with the definitions below.
Cash card
cash dispenser credit card
home banking
Loan mortgage
standing order
Current account (GB) or checking account (US)
Deposit account (GB) or time or notice account (US)
1 an arrangement by which a customer can withdraw more from a
bank account than has been deposited in it, up to an agreed limit;
interest on the debt is calculated daily
2 a card which guarantees payment for goods and services purchased
by the cardholder, who pays back the bank or finance company at a
later date
3 a computerized machine that allows bank customers to withdraw
money, check their balance, and so on

4 a fixed sum of money on which interest is paid, lent for a fixed
period, and usually for a specific purpose
5 an instruction to a bank to pay fixed sums of money to certain
people or organizations at stated times
6 a loan, usually to buy property, which serves as a security for the
7 a plastic card issued to bank customers for use in cash dispensers
8 doing banking transactions by telephone or from one’s own personal
computer, linked to the bank via a network
9 one that generally pays little or no interest, but allows the holder to
withdraw his or her cash without any restrictions
10 one that pays interest, but usually cannot be used for paying
cheques (GB) or checks (US), and on which notice is often required to
withdraw money

31. Types of banks
Read the text below and write short headings (one or two words)
for each paragraph
Commercial or retail banks are businesses that trade in
money. They receive and hold deposits, pay money according to
customers’ instructions, lend money, offer investment advice,
exchange foreign currencies, and so on. They make a profit from the
difference (known as a spread or a margin) between the interest rates
they pay to lenders or depositors and those they charge to borrowers.
Banks also create credit, because the money they lend, from their
deposits, is generally spent (either on goods or services, or to settle
debts), and in this way transferred to another bank account – often by
way of a bank transfer or a cheque (check) rather than the use of notes
or coins – from where it can be lent to another borrower, and so on.
When lending money, bankers have to find a balance between yield
and risk, and between liquidity and different maturities.
Merchant bank in Britain raise funds for industry on the
various financial markets, finance international trade, issue and
underwrite securities, deal with takeovers and mergers, and issue
government bonds. They also generally offer stockbroking and

portfolio management services to rich corporate and individual clients.
Investment banks in the USA are similar, but they can only act as
intermediaries offering advisory services, and do not offer loans
themselves. Investment banks make their profits from the fees and
commissions they charge for their services.
In the USA, the Glass-Steagall Act of 1934 enforced a strict
separation between commercial banks and investment banks or
stockbroking firms. Yet, the distinction between commercial and
investment banking has become less clear in recent years.
Deregulation in the USA and Britain is leading to the creation of
‘financial supermarkets’: conglomerates combining the services
previously offered by banks, stockbrokers, insurance companies, and
so on. In some European countries (notably Germany, Austria and
Switzerland) there have always been universal banks combining
deposit and loan banking with share and bond dealing and investment
A country’s minimum interest rate is usually fixed by the
central bank. This is the discount rate, at which the central bank makes
secured loans to commercial banks. Banks lend to blue chip borrowers
(very safe large companies) at the base rate or the prime rate; all other
borrowers pay more, depending on their credit standing (or credit
rating, or creditworthiness): the lender’s estimation of their present
and future solvency. Borrowers can usually get a lower interest rate if
the loan is secured or guaranteed by some kind of asset, known as
In most financial centres, there are also branches of lots of
foreign banks, largely doing Eurocurrency business. A Eurocurrency
is any currency held outside its country of origin. The first significant
Eurocurrency market was for US dollars in Europe, but the name is
now used for foreign currencies held anywhere in the world (e.g. yen
in the US, DM in Japan). Since the US$ is the world’s most important
trading currency – and because the US has for many years had a huge
trade deficit – there is a market of many billions of Eurodollars,
including the oil-exporting countries’ ‘petrodollars’. Although a
central bank can determine the minimum lending rate for its national
currency it has no control over foreign currencies. Furthermore, banks
are not obliged to deposit any of their Eurocurrency assets at 0%

interest with the central bank, which means that they can usually offer
better rates to borrowers and depositors than in the home country.
Commercial / retail bank – bancă comerciale / bancă de depozit
Merchant bank / Investment bank – bancă comercială / de investiŃii
• Vocabulary
a. Find the words or expressions in the text which mean the
1 to place money in a bank; or money placed in a bank
2 the money used in countries other than one’s own
3 how much money a loan pays, expressed as percentage
4 available cash, and how easily other assets can be turned into cash
5 the date when a loan becomes repayable
6 to guarantee to buy all the new shares that a company issues, if they
cannot be sold to the public
7 when a company buys or acquires another one
8 when a company combines with another one
9 buying and selling stocks or shares for clients
10 taking care of all a client’s investments
11 the ending or relaxing of legal restrictions
12 a group of companies, operating in different fields, that have joined
13 a company considered to be without risk
14 ability to pay liabilities when they become due
15 anything that acts as a security or a guarantee for a loan
b.The text contains a number of common verb-noun partnerships
(e.g. to lend money, to finance international trade). Match up the
verbs and nouns below to make common collocations.



security issues

32. Opening an account and means of payment

At the Bank – Opening an account
Mr. X – I would like to open an account with you.
Bank Clerk – Very well, sir. Here is a form you’ll have to fill in.
Mr. X – There may be a problem. You see, I’m a foreign resident.
Bank Clerk – This is quite all right, sir. Quite a large number of our
clients are foreigners. Do you want to open a current account or a
deposit account?
Mr. X – Well, I’m going to stay and work here for a while, and I’d
like my salary to be paid into my account. But I don’t want to have to
give notice before I can withdraw money.
Bank Clerk – It’s obviously a current account you need.
Mr. X – How long will take to open an account?
Bank Clerk – Doesn’t take long, sir. Let me see… Today is
Thursday, if you can complete this form today, your cheque-book will
be ready for you on Tuesday.
Mr. X – Fine. So, my salary could be paid in at the end of the month.
Bank Clerk – No doubt, sir.
Mr. X – There are two questions I’d like to ask. Will this be the only
place where I can cash a cheque?
Bank Clerk – Oh, no, sir. You can have them cashed at any of our
Mr. X – Good. And what about statements of account? How
frequently does one get them?
Bank Clerk – Normally, once a month. But we shall send one out
after each transaction if you want us to.


General Information:
When do/are you open?
How late do you stay open?
When do you close?
What are your opening hours?
In the US: Does this bank have an ATM (Automatic Teller Machine –
In the UK: Do you have a cash point/dispenser?
The ATM ate/kept my card.
The cash dispenser won’t give me my card back.
If you want to use bank services you may have to queue (UK) or stand
in line (US) and wait for the next available teller (US) – or clerk (UK):
When their desk is free, a light will come on:
Next, please.
Please step down (US).
I’m open over/down here.
Queue / stand in line = a sta la coadă
Teller / clerk = funcŃionar la ghişeu
You can then tell him or her what you want:
I want/need/would like to cash a check.
I’d like to cash these travelers checks, please.
Can you change a ten-pound note, please?
I’d like ten dollars’ worth of quarters, please.
I need a roll of quarters.
If you have an account there:
I’d like to make a deposit.
I’d like to withdraw some money from my account.
I’d like to make a withdrawal.
If you want to withdraw some money from abroad:
I’d like to transfer some money from an overseas bank account.
Before the clerk gives you any money, she/he will ask:
How would you like that?
Any preference?
Large or small bills (US) notes (UK)?

Your reply:
It doesn’t matter (which denomination)
All twenties, please.
Just tens and twenties, please.
Five, tens and three fives, please.
No small bills/notes, please.
If you want to transfer some money, the clerk will say:
Are you a customer here?
First of all, I need some ID, please.
May I see some identification?
Do you have a bank card with you?
I’d like the name and address of your bank, your account number and
your sorting code, please.
Please fill in this form.
I’m afraid you’ll have to go to the enquiries desk (biroul de
Or, if you’re cashing a check:
Could you endorse this (sign it on the back), please.
Perhaps you’re withdrawing money with a credit card:
Enter your PIN number, please (PIN: Personal Identification Number).
If you have foreign currency:
Do you handle foreign exchange here?
Is there a foreign exchange desk?
I’d like to change/buy some foreign currency.
What’s the current exchange rate, please?
How many marks to the dollar, please?
And the reply:
The exchange rate is 1,5 marks to the dollar.
I’m afraid the rate has gone up today.
You might want to know:
Do I have to pay bank charges (comision) on top of that?
Is that inclusive of commission?
Are there any additional expenses?
What commission do you charge?

Maybe you’re staying in an Anglophone country for more than a
year and you want to open a bank account there:
I’d like to open a deposit/checking/ savings account, please.
I’d like to apply for a loan.
I’d like to get a safety deposit box (safe de depuneri).
What’s the interest rate on this account?
Could you explain the service charges on this account?
Could I have a new checkbook, please?
I’d like to apply for a bank/cheque/credit/cash card, please.

Means of payment.
I’d just had a phone call from the bank. They couldn’t cash in D’s
cheque. They were told there were insufficient funds on his account.
I’m surprised. That would be the first time. Can you remind me of the
It’s not a large sum: only 135 pounds.
This is all the more surprising. He is not the kind of person to
overdraw his account. What sort of a cheque did he make out?
I’m looking into his file… Now… It was a giro cheque. Usually he
pays us by bank cheque for small amounts, and by draft for large
It makes more sense. Just give him a ring, will you? I’m sure he’ll
settle immediately.
I’ll do that. Something else. I’ve had very bad information about B,
you know, the reseller (vânzător) who wanted immediate delivery.
I see who you mean. It’s his first order with us?
That’s it. He’s already had a current account cancelled and has a
reputation for being a slow payer.
If so, insist on payment with the order (plata la comandă). Delivery is
out of the question until the sum has been paid into our account.
Well, I think that’s all. Oh yes! One more thing, the drafts to be


Means of payment. Key sentences.
His account is overdrawn (in the red).
Cecul său este descoperit.
The settlement is long overdue.
Plata ar fi trebuit să fie făcută demult.
What’s his current account number?
Care este numărul contului său curent?
Charge it to my account.
ScoateŃi suma din contul meu.
Settle the amount by money order if you find it more convenient.
PlătiŃi suma prin mandat poştal dacă consideraŃi că este mai practic.
The cheque was made out to his order.
Cecul era făcut la ordinul său.
He intends to open a deposit account at one of our branches.
El are intenŃia să deschidă un cont pentru depuneri la una din
sucursalele noastre.
I think I remember it was a bearer cheque.
Cred că îmi amintesc, era un cec la purtător.
Normally, that payment-in ought to have been recorded on my last
statement of account.
Normal, acea plată (vărsământ) ar trebuie să figureze pe ultimul meu
extras de cont.
For sight withdrawals, you simply have to go to counter no.3
Pentru retragerile la vedere, ajunge să mergeŃi la ghişeul nr.3
She will pay us by instalments over six months.
Ea ne va plăti în rate eşalonate pe şase luni.
I have kept the stub (counterfoil) of the cheque which I issued on
March 6th.
Am păstrat talonul cecului pe care l-am emis pe 6 martie.
The holder of the credit card must inform our nearest office in case of
loss or theft.
Titularul cărŃii de credit trebuie să informeze imediat biroul nostru cel
mai apropiat în caz de pierdere sau de furt.
Thanks to your credit card, you may rent a car without leaving a
Datorită cărŃii dumneavoastră de credit veŃi putea închiria o maşină
fără să lăsaŃi o garanŃie.
How is it that this cheque has not been endorsed?
Cum se face că acest cec nu a fost andosat?

I suppose you’d rather be paid in cash?
Presupun că preferaŃi să fiŃi plătiŃi cu bani gheaŃă.
The draft will fall due at the end of the month.
Trata ajunge la scadenŃă la sfârşitul lunii.
Why haven’t you presented this draft for acceptance yet?
De ce nu aŃi prezentat încă această trată la acceptare?
How long will it take to have the sum transferred to my account?
Cât durează să viraŃi suma în contul meu?
It has been rejected for non-conformity of the signature (because the
signature was not true).
El a fost refuzat din cauza nepotrivirii semnăturii (din cauză că
semnătura nu era cea adevărată).
This is not the first time he has issued bad cheques (dud checks;
cheques that bounce).
Nu este prima dată când el emite cecuri fără acoperire.

33. Banking – Key words and sentences

The banks have played a prominent role in the development of
modern economy since the very beginning of commercial activities.
Their branches have become a familiar sight on many city streets, but
also in villages, as more and more people now “bank” with any one of
the national or local banks.
Banks offer their services both to private individuals and to
businesses. One can open a current account or a deposit account with
them. The former will enable a person to use a cheque for payment
instead of hard cash, whereas the latter will bring a small interest.
People can ask their bank to pay recurring expenses for them, such as
subscription, rents, telephone, gas or electrical bills. Valuables or
deeds can be left in custody in a bank safe on payment of certain
charge. The bank will obtain foreign currencies, issue traveller’s
cheques and letter of credit payable at their branches or at
correspondent banks.
Besides, banks will operate transactions on the stock exchange
for you and give advice on investments. They also lend money,
generally on a short term basis: thus they can allow overdraft facilities
or personal loans; if your credit rating is good and if you can offer

some sort of security, they may consider longer term credit. Most of
this applies to business discounting of their bills – Bills of Exchange
(drafts), or even Promissory Notes. In the field of foreign trade, the
banks can help by financing or advising their clients. They can be
referred to by either party for status enquiries in business transactions.

Recurring expenses = cheltuieli recurente
Valuables / deeds = acte, valori
Overdraft = cont debitor, descoperire de cont
Be referred to = a fi îndrumat

A cheque is signed by the payer and payable to the payee or to his
order. A draft (or bill of exchange) is drawn by the creditor on the
debtor and payable to the drawer or to a third party after acceptance by
the drawee.
Un cec este semnat de plătitor şi se plăteşte beneficiarului sau la
ordinul său. O trată este trasă de creditor asupra debitorului şi se
plăteşte trăgătorului sau unei terŃe părŃi după acceptare de către tras.

Bank. Key sentences.
1. An interest is charged on all banks services.
Se percepe dobândă pentru toate serviciile bancare.
2. You had better ask for an overdraft before your account is
overdrawn (in red).
Ar fi bine să cereŃi un descoperit înainte de a vi se epuiza contul.
3. I always deposit my valuables and my wife’s jewels in a bank safe
before leaving for a long holiday.
Depun întotdeauna obiectele mele de valoare şi bijuteriile soŃiei
la o bancă înainte de a pleca într-o vacanŃă de lungă durată.
4. Where can I cash this cheque (check – U.S.)?
Unde pot încasa acest cec?

5. Remember to record all withdrawals on counterfoils (U.S. – stubs)
in your cheque-book.
Nu uitaŃi să înregistraŃi toate retragerile pe talonul carnetului
dumneavoastră de cecuri.
6. They offered me to refund a 2,000 personal loan over a 30-month
Ei mi-au propus să rambursez un împrumut personal de 2.000 de
lire în treizeci de rate lunare.
7. When writing out or endorsing a cheque, one must be careful to
avoid any erasure.
Când se redactează sau se andosează un cec, trebuie să se evite
orice ştersătură.
8. She made out so many dud (bad) cheques that no bank will trust
her with a cheque-book.
Ea a întocmit atâtea cecuri fără acoperire, încât nici o bancă nu-I
va mai încredinŃa un carnet de cecuri.
9. Don’t forget to have these bills discounted by the end of this
Nu uitaŃi să scontaŃi aceste efecte la sfârşitul lunii.
10. Recently a trader sued his banker after he could no longer have his
bills discounted.
Recent, un comerciant a intentat un proces băncii sale după ce na mai avut posibilitatea să-şi sconteze efectele de comerŃ.
11. The clearing-house will centralize all the operations dealing with
the exchange of bills and cheques between banks.
Camera de decontări/oficiul de cliring va centraliza toate
operaŃiunile care se referă la schimbul interbancar de efecte de
comerŃ şi cecuri.
12. The U.S. investment banks have just raised their prime rate by ¼
point to 6,75%.
Băncile de investiŃii americane tocmai au crescut rata de bază (a
dobânzii) la 6,75% mărind-o cu un sfert de punct.
13. The increase in the price of short-term money has been confirmed
whereas longer term rates remain stable.
S-a confirmat creşterea preŃului pentru împrumuturile pe termen
scurt, în timp ce ratele (dobânzii) pe termen lung rămân stabile.
14. The Prime Rate (fine rate, blue-chip rate, [B.E.] base rate) is the
rate granted by U.S. banks to their clients with the highest rating.
Rata de bază reprezintă rata acordată de băncile americane
clienŃilor care prezintă cel mai mic risc.

15. The spell of monetary stability has lasted since the begining of the
Această perioadă de stabilitate monetară durează de la începutul
16. The policy of expensive money is meant to fight inflation.
Politica dirijată împotriva creşterii preŃurilor este destinată
combaterii inflaŃiei.
17. …but it has immediate repercussions on corporate income
…dar acest lucru are repercursiuni imediate asupra conturilor de
venit şi pierderi ale întreprinderilor.
18. The Central Bank acts as banker to the government and to other
banks, and as the central note-issuing authority.
Banca centrală funcŃionează în calitate de bancher pentru guvern
şi alte bănci şi ca autoritate centrală de emisiune monetară.

Banking. Key sentences.
1. I’d like to change French francs into pounds.
Aş vrea să schimb franci francezi în lire.
2. Your account is in the red (overdrawn).
Contul Dumneavoastră este epuizat.
3. Should I (must I) endorse the cheque?
Trebuie să andosez cecul?
4. He has opened a giro account.
El a deschis un cont-cec poştal.
5. My salary is paid into my account every month.
Salariul meu este vărsat în contul meu în fiecare lună.
6. The holders of such deposit accounts must give seven day’s notice
before withdrawal.
DeŃinătorii de astfel de conturi de depuneri trebuie să înştiinŃeze
(banca) cu şapte zile înainte pentru a-şi retrage banii.
7. Savings accounts earn an interest.
Conturile de economii aduc o dobândă.
8. The last withdrawal dates back to the 27th of last month.
Ultima retragere este din 27 luna trecută.
9. He wanted me to make out a blank cheque.
El voia să facă un cec în alb.

10. I’m not sure I kept the stub.
Nu sunt sigur că am păstrat talonul.
11. Why not endorse the cheque to his (her) name?
De ce să nu andosez cecul pe numele lui (ei)?
12. My bank will lend me part of the sum.
Banca mea o să-mi dea cu împrumut o parte din sumă.
13. He will find it hard to repay his loan.
Îi va fi greu să ramburseze împrumutul.
14. Why has his (her) overdraft been discontinued ?
De ce nu i s-a mai dat descoperitul?
15. He should not have borrowed so much.
Nu ar fi trebuit ca el să împrumute atât.
16. This is the 5th bad cheque (dud cheque) we’ve had this month.
Este al cincilea cec fără acoperire care mi se dă luna aceasta.
17. Please go to counter 6.
Vă rog să mergeŃi la ghişeul 6.
18. Please give me the rest in 5-pounds notes.
DaŃi-mi restul în hârtii (bancnote) de 5 lire.
19. The statement has still not reached me.
Extrasul (de cont) nu a ajuns încă la mine. (nu mi-a parvenit încă)
20. I have to (I must) replenish my account.
Trebuie să-mi reaprovizionez contul.
21. She hasn’t drawn on her account for 3 weeks.
Ea nu a mai scos din contul său de trei săptămâni.
34. Taxation and how to avoid it
• Vocabulary
Which terms do the following sentences define?
1. The tax people pay on their wages and salaries is called
Capital transfer tax
income tax
wealth tax
2. A tax on wages and salaries or on company profits is a/an
Direct tax
indirect tax
value-added tax
3. A tax levied at a higher rate on higher incomes is called a
Progressive tax
regressive tax
wealth tax
4. A tax paid on property, sales transactions, imports, and so on is
Direct tax
indirect tax
value-added tax

5. A tax collected at each stage of production, excluding the alreadytaxed costs from previous stages, is called a/an
Added-value tax
sales tax
value-added tax
6. Profits made by selling assets are generally liable to a
Capital gains tax
capital transfer tax
wealth tax
7. Gifts and inheritances over a certain value are often liable to a
Capital gains tax
capital transfer tax
wealth tax
8. The annual tax imposed on people’s fortunes (in some countries)
is a/an
Added-value tax
capital gains tax
wealth tax
9. Making false declarations to the tax authorities is called
Fiscal policy
tax avoidance
tax evasion
10. Reducing the amount of tax you pay to a legal minimum is called
Creative accounting
tax avoidance
tax evasion

Income tax – impozit pe venit
Wealth tax – impozit pe avere
Direct tax – impozit direct
Indirect tax – impozit indirect
Progressive tax – impozit progresiv
Regressive tax – impozit regresiv
Value-added tax – TVA
Sales tax – impozit pe vânzări
Capital gains tax – impozit pe plusul de capital
Capital transfer tax – impozit pe transferul de capital
Fiscal policy – politică fiscală
Tax avoidance – evitare fiscală
Tax evasion – evaziune fiscală
Tax – taxă, impozit
Taxation – impozit, impozitare
Tax shelter – protecŃie fiscală
Tax haven – paradis fiscal
Tax-deductible – deductibil fiscal
Excise duties – accize, impozit de fabricare



Read the following text and decide which paragraphs could be
given the following headings.

Advantages and disadvantages of different tax systems
Avoiding tax on profits
Avoiding tax on salaries
Tax evasion
The functions of taxation

Taxation (and how to avoid it!)
The primary function of taxation is, of course, to raise revenue
to finance government expenditure, but taxes can also have other
purposes. Indirect excise duties, for example, can be designed to
dissuade (a preveni, a schimba părerea) people from smoking,
drinking alcohol, and so on. Governments can also encourage capital
investment by permitting various methods of accelerated depreciation
accounting that allow companies to deduct more of the cost of
investments from their profits, and consequently reduce their tax bills.
There is always a lot of debate as to the fairness of tax
systems. Business profits for example, are generally taxed twice:
companies pay tax on their profits (corporation tax in Britain, income
tax in the USA), and shareholders pay income tax on dividends.
Income taxes in most countries are progressive, and are one of the
ways in which governments can redistribute wealth. The problem with
progressive taxes is that the marginal rate – the tax people pay on any
additional income – is always high, which is generally a disincentive
to both working and investing. On the other hand, most sales taxes are
slightly regressive, because poorer people need to spend a larger
proportion of their income on consumption than the rich.
The higher the tax rates, the more people are tempted to cheat,
but there is a substantial ‘black’ or ‘underground’ economy nearly
everywhere. In Italy, for example, self-employed people – whose
income is more difficult to control than that of company employees –
account for more than half of national income. Lots of people also
have undeclared, part-time evening jobs (some people call this
‘moonlighting’) with small and medium-sized family firms, on which
no one pays any tax or national insurance. At the end of the 1986, the

Director of the Italian National Institute of Statistics calculated the
size of the underground economy, and added 16.7% to Italy’s gross
national product (GNP) figure, and then claimed that Italy had
overtaken Britain to become the world’s fifth largest economy.
To reduce income tax liability, some employers give highlypaid employees lots of ‘perks’ (short for perquisites) instead of taxable
money, such as company cars, free health insurance, and subsidized
lunches. Legal ways of avoiding tax, such as these, are known as
loopholes in tax lows. Life insurance policies, pension plans and other
investments by which individuals can postpone the payment of tax,
are known as tax shelters. Donations to charities that can be subtracted
from the income on which tax is calculated are described as taxdeductible.
Companies have a variety of ways of avoiding tax on profits.
They can bring forward capital expenditure (on new factories,
machines, and so on) so that at the end of the year all the profits have
been used up; this is known as making a tax loss. Multinational
companies often set up their head offices in countries such as
Liechtenstein, Monaco, the Cayman Islands, and the Bahamas, where
taxes are low; such countries are known as tax havens. Criminal
organizations, meanwhile, tend to pass money through a series of
companies in very complicated transactionsin order to disguise its
origin from tax inspectors – and the police; this is known as
laundering money.
• Comprehension
According to the text, are the following statements True or False?
1. Taxes can be designed both to discourage and to encourage
2. The same amount of money can be taxed more than once.
3. Progressive taxes may discourage people from working extra hours.
4. Sales taxes are unfair because poor people spend more than the rich
5. The Italian government knows that about one seventh of national
income escapes taxation.
6.‘Loopholes’ are a common form of tax evasion.
7.If you pay a lot of your income into a pension fund or a life
insurance policy you never have to pay tax on it.

8. A company that makes an unusually large profit during a tax year
might quickly decide to spend it, for example, on a new factory or
• Vocabulary
Find words in the text that mean the following.
1. reducing the value of a fixed asset, by charging it against profits
2. something which discourages an action
3. an adjective describing a tax that is proportionally higher for people
with less money
4. spending money to buy things, rather than saving it
5. working for yourself, being your own boss
6. a tax on incomes that pays for sickness benefit, unemployment
benefit, and old-age pensions
7. non-financial benefits or advantages of a job
8. a way to delay the payment of tax to a later time
9. an adjective describing expenditure that can be taken away from
taxable income or profits
10. a country offering very low tax rates to foreign businesses

13. Stock Market
35. Stocks and shares
Individuals and groups of people doing business as a
partnership, have unlimited liability for debt, unless they form a
limited company. If the business does badly and cannot pay its debts,
any creditor can have it declared bankrupt. The unsuccessful business
people may have to sell nearly all their possessions in order to pay
their debts. This is why most people doing business form limited
companies. A limited company is a legal entity separate from its
owners, and is only liable for the amount of capital that has been

invested in it. If a limited company goes bankrupt, it is wound up and
its assets are liquidated (i.e. sold) to pay the debts. If the assets don’t
cover the liabilities or the debts, they remain unpaid. The creditors
simply do not get all their money back.
Most companies begin as private limited companies. Their
owners have to put up the capital themselves, or borrow from friends
or a bank, perhaps a bank specializing in venture capital. The founders
have to write a Memorandum of Association (GB) or a Certificate of
Incorporation (US), which states the company’s name, its purpose, its
registered office or premises, and the amount of authorized share
capital. They also write Articles of Association (GB) or Bylaws (US),
which set out the duties of directors and the rights of shareholders
(GB) or stockholders (US). They send these documents to the registrar
of companies.
A successful, growing company can apply to a stock exchange
to become a public limited company (GB) or a listed company (US).
Newer and smaller companies usually join ‘over-the-counter’ markets,
such as the Unlisted Securities Market in London or Nasdaq in New
York. Very successful businesses can apply to be quoted or listed (i.e.
to have their shares traded) on major stock exchanges. Publicly quoted
companies have to fulfil a large number of requirements, including
sending their shareholders an independently-audited report every year,
containing the year’s trading results and a statement of their financial
The act of issuing shares (GB) or stocks (US) for the first time
is known as floating a company (making a flotation). Companies
generally use an investment bank to underwrite the issue i.e. to
guarantee to purchase all the securities at an agreed price on a certain
day, if they cannot be sold to the public.
Companies wishing to raise more money for expansion can
sometimes issue new shares, which are normally offered first to the
existing shareholders at less than their market price. This is known as
a rights issue. Companies sometimes also choose to capitalize part of
their profit, i.e. turn it into capital, by issuing new shares to
shareholders instead of paying dividends. This is known as a bonus
Buying a share gives its holder part of the ownership of a
company. Shares generally entitle their owner to vote at a company’s
Annual General Meeting (GB) or Annual Meeting of Stockholders
(US), and to receive a proportion of distributed profits in the form of a

dividend – or to receive part of the company’s residual value if it goes
into liquidation. Shareholders can sell their shares on the secondary
market at any time, but the market price of a share – the price quoted
at any given time on the stock exchange, which reflects (more or less)
how well or badly the company is doing – may differ radically from
its nominal value.
• Vocabulary
Find words in the text which mean the following
1 having a responsibility or an obligation to do something, e.g. to pay
a debt
2 a person or organization to whom money is owed (for goods or
services rendered, or as repayment of a loan)
3 to be insolvent: unable to pay debts
4 everything of value owned by a business that can be used to produce
goods, pay liabilities, and so on
5 to sell all the possessions of a bankrupt business
6 money that a company will have to pay to someone else (bills, taxes,
debts, interest and mortgage payments, etc.)
7 to provide money for a company or other project
8 money invested in a possibly risky new business
9 the people who begin a new company
10 the place in which a company does business: an office, shop,
workshop, factory, warehouse, and so on
11 to guarantee to buy an entire new share issue, if no one else wants
12 a proportion of the annual profits of a limited company, paid to

Alternative terminology

Americans often talk about corporations rather than companies and
about an initial public offering rather than a flotation.
Another name for stocks and shares is equities, because all the stocks
or shares of a company – or at least all those of a particular category –
have equal value.

Two terms for nominal value are face value and par value.
Other names for a bonus issue are a scrip issue (short for ‘subscription
certificate’) and a capitalization issue, and in the US, a stock dividend
or stock split.
• Vocabulary
Match up the following words and definitions.
Blue chip
Defensive stock
Growth stock
Insider share-dealing Institutional investors Mutual fund
Market-maker Portfolio
1. a company that spreads investors’ capital over a variety of
2. an investor’s selection of securities
3. a person who can advise investors and buy and sell shares for
4. a stock in a large company or corporation that is considered to be
a secure investment –
5. a stock – in an industry not much affected by cyclical trends – that
offers a good return but only a limited chance of rise or decline in
6. a stock – which usually has a high purchasing price and a low
current rate of return – that is expected to appreciate in capital
7. a wholesaler in stocks and shares who deals with brokers
8. financial organizations such as pension funds and insurance
companies which own most of the shares of all leading companies
(over 60%, and rising)
9. the use of information not known to the public to make a profit
out of buying or selling shares
36. Bonds
Companies finance most of their activities by way of
internally generated cash flows. If they need more money they can
either sell shares or borrow, usually by issuing bonds. More and more
companies now issue their own bonds rather than borrow from banks,

because this is often cheaper: the market may be a better judge of the
firm’s creditworthiness than a bank, i.e. it may lend money at a lower
interest rate. This is evidently not a good thing for the banks, which
now have to lend large amounts of money to borrowers that are much
less secure than blue chip companies.
Bond-issuing companies are rated by private rating companies
such as Moody’s and Standard & Poors, and given an ‘investment
grade’ according to their financial situation and performance, Aaa
being the best, and C the worst, i.e. nearly bankrupt. Obviously, the
higher the rating, the lower the interest rate at which a company can
Most bonds are bearer certificates, so after being issued (on
the primary market), they can be traded on the secondary bond market
until they mature. Bonds are therefore liquid, although of course their
price on the secondary market fluctuates according to the changes in
interest rates. Consequently, the majority of bonds on the secondary
market are traded either above or below par. A bond’s yield at any
particular time is thus its coupon (the amount of interest it pays)
expressed as a percentage of its price on the secondary market.
For companies, the advantage of debt financing over equity
financing is that bond interest is tax deductible. In other words, a
company deducts its interest payments from its profits before paying
tax, whereas dividends are paid out of already-taxed profits. Apart
from this ‘tax shield’, it is generally considered to be a sign of good
health and anticipated higher future profits if a company borrows. On
the other hand, increasing debt increases financial risk: bond interest
has to be paid, even in a year without any profits from which to deduct
it, and the principal has to be repaid when the debt matures, whereas
companies are not obliged to pay dividends or repay share capital.
Thus companies have a debt-equity ratio that is determined by
balancing tax savings against the risk of being declared bankrupt by
Governments, of course, unlike companies, do not have the
option of issuing equities. Consequently they issue bonds when public
spending exceeds receipts from income tax, VAT, and so on. Longterm government bonds are known as gilt-edged securities, or simply
gilts, in Britain, and Treasury Bonds in the US. The British and
American central banks also sell and buy short-term (three months)
Treasury Bills as a way of regulating the money supply. To reduce the
money supply, they sell these bills to commercial banks, and withdraw

the cash received from circulation; to increase the money supply they
buy them back, paying with newly created money which is put into
circulation in this way.
Rating company – firmă de rating
Debt financing – finanŃarea debitului
Equity financing – finanŃarea acŃiunilor
Investment grade – gradul riscului de investiŃie
Debt-equity ratio – raŃia debit-acŃiuni
Public spending – chletuieli publice
Receipts – încasări, venituri
Treasury bonds – certificate de trezorerie pe termen lung
Treasury bills – certificate de trezorerie pe termen scurt
• Vocabulary
Match up the words or phrases on the left with the corresponding
ones on the right.
1 investors
2 issuing bonds
3 principal
4 maturity
5 pension funds
6 buy-and-hold investors
7 non-payment
8 price appreciation
9 price depreciation
10 capital gains

A the amount of a loan
B borrowing money
C date at which the money will be
D fall in interest rates
E keep their bonds till maturity
F default
G profits on the sale assets
H providers of funds
I retirement money
J rise in interest rates

• Vocabulary
Match up the expressions on the left with the definitions on the
1 equity financing
2 debt financing

A a security whose owner is not
registered with the issuer
B easily sold (turned into cash)

3 bearer certificate
4 liquid

5 par
6 coupon
7 yield

C the rate of interest paid by a fixed
interest security
D the rate of income an investor
receives taking into account a
security’s current price
E issuing bonds
F issuing shares
G nominal or face value (100%)

37. Futures, options and swaps
• Vocabulary
Match up the following words and definitions.
1 Futures
A contracts giving the right, but not the obligation, to buy or sell a
security, a currency, or a commodity at a fixed price during a certain
period of time
2 Options
B contracts to buy or sell fixed quantities of commodity, currency, or
financial asset at a future date, at a price fixed at the time of making
the contract
3 Commodities
C a general name for all financial instruments whose price depends on
the movement of another price
4 Derivatives
D buying securities or other assets in the hope of making a capital
gain by selling them at a higher price (or selling them in the hope of
buying them back at a lower price)
5 Hedging
E making contracts to buy or sell a commodity or financial asset at a
pre-arranged price in the future as a protection or ‘insurance’ against
price changes
6 Speculation
F raw materials or primary products (metals, cereals, coffee, etc.) that
are traded on special markets

• Reading
Select ten or eleven of the following words that you would expect
to find in an introductory text about futures and options.
Assets beer bush call
commodities contracts
Copper currencies
discount store foodstuffs
raw materials shout
Spot market
Now read the text, and see if you find the words you selected.
Every weekday, enormous amounts of commodities,
currencies and financial securities are traded for immediate delivery at
their current price on spot markets. Yet there are also futures markets
on which contracts can be made to buy and sell commodities,
currencies, and various financial assets, at a future date (e.g. three, six
or nine months adead), but with the price fixed at the time of the deal.
Standardized deals for fixed quantities and time periods (e.g. 25 tons
of copper to be delivered next June 30) are called futures; individual,
non-standard, ‘over-the’counter’ deals between two parties (e.g. 1.7
billion yen to be exchanged for dollars on September 15, at a rate set
today) are called forward contracts.

Hedging and speculating
Futures, options and other derivatives exist in order that
companies and individuals may attempt to diminish the effects of, or
profit from, future changes in commodity and asset prices, exchange
rates, interest rates, and so on. For example, the prices of foodstuffs,
such as wheat, maize, coca, coffee, tea and orange juice are frequently
affected by droughts, floods and other extreme weather conditions.
Consequently many producers and buyers of raw matrials want to
hedge, in order to guarantee next season’s prices. When commodity
prices are expected to rise, future prices are obviously higher than (at a
premium on) spot prices; when they are expected to fall they are at a
discount on spot prices.

In recent years, especially since financial deregulation,
exchange rates and interest rates have also fluctuated widly. Many
businesses, therefore, want to buy or sell currencies at a guaranteed
future price. Speculators, anticipating currency appreciations or
depreciations, or interest rate movements, are also active in currency
futures markets, such as the London International Financial Futures
Exchange (LIFFE, pronounced ‘life’).
As well as currencies and commodities, there is now a huge
futures market in stocks and shares. One can buy options giving the
right – but not the obligation – to buy and sell securities at a fixed
price in the future. A call option gives the right to buy securities (or a
currency, or a commodity) at a certain price during a certain period of
time. A put option gives the right to sell an asset at a certain price
during a certain period of time. These options allow organizations to
hedge their equity investments.
For example, if you think a share worth 100 will rise, you can
buy a call option giving the right to buy at 100, hoping to sell this
option, or to buy and resell the share at a profit. Alternatively, you can
write a put option giving someone else the right to sell the shares at
100: if the market price remains above 100, no one will exercise the
option, so you earn the premium.
On the contrary, if you expect the value of a share that you
own to fall below its current price of 100, you can buy a put option at
100 (or higher): if the price falls, you can still sell your shares at this
price. Alternatively, you could write a call option giving someone else
the right to buy the share at 100: if the market price of the underlying
security remains below the option’s exercise price or strike price, noone will take up the option, and you earn the premium.
Options are merely one type of derivative instrument, based
on another underlying price. Many companies nowadays also arrange
currency swaps and interest rate swaps with other companies or
financial institutions. For example, a French company that can borrow
francs at a preferential rate, but which also needs yen, can arrange a
swap with a Japanese company in the opposite position. Such

currency swaps, designed to achieve interest rate savings, are of
course open to the risk of exchange rate fluctuations. A company with
a lot of fixed interest debt might choose to exchange some of it for
another company’s floating rate loans. Whether they save or lose
money will depend on the movement of interest rates.
Call option – opŃiune de achiziŃie
Put option – opŃiune de vânzare
Exercise price / strike price – preŃ de exerciŃiu
Swap – schimb
• Summarizing
Complete the following sentences
1 The difference between futures and forward contracts is ….
2 Producers and buyers often choose to hedge because ….
3 Speculators can make money on currency futures if …
4 If you believe that a share price will rise, possible option strategies
include …
5 On the contrary, if you think a share price will fall, possible option
strategies include …
1. The risk with currency and interest rate swaps is that …
• Vocabulary
Find words in the text that are in an obvious sense the opposite of
the terms below.

spot market
strike price


Acceptance – acceptare (trată)
Acceptor – tras, acceptor
Allow credit – a acorda un credit


All-time high – un record de creştere a cursului
All-time low – un record de scădere a cursului
Amount – o sumă, un total
Amount to – a se ridica la, a ajunge la
Arrears – datorii, restanŃe, arierate
Articles of Association – statutul societăŃii
Assess, to estimate – a evalua, a estima
Assessment, an estimate – o evaluare, o estimare
Assets – activul
Auction – o vânzare prin licitaŃie
Austerity – austeritate
Back – a susŃine financiar
Bad cheque, dud check – cec fără acoperire
Bad debt – o creanŃă neplătită
Balance of account –un sold de cont
Balance of Payments – balanŃa de plăŃi
Balance of Trade – balanŃa comercială
Bank clerks – funcŃionari bancari
Bank (A.E. discount) rate – rata scontului Băncii centrale
Bank account – cont bancar
Bank tellers – casieri (la bancă)
Bank wickets – ghişee ale băncii
Banking regulation – reglementări bancare
Banknotes (A.E. bills) – bancnote
Bargain – a negocia
Barrier – o barieră
Barter / counter-trade – troc
Base rate / prime rate – taxă preferenŃială / rata de bază
Be in the black – a fi creditor
Be in the red – a fi descoperit/ în deficit
Bear – un speculator de bursă (care mizează pe scăderea cursului)
Bear an interest – a produce o dobândă
Bearer – un purtător
Bearer cheque – cec la purtător
Benefit – un avantaj
Bill, a check (US) – o notă de plată
Bills – facturi, note de plată, efecte bancare
Bills of Exchange (B.E.), drafts – cambii, poliŃe, trate
Bite – a avea efect
Blank cheque – cec în alb

Blue chips – acŃiuni ale marilor companii
Board of directors – consiliul de administraŃie
Bond – o obligaŃiune
Bonus issue, shares / stock dividends – acŃiuni gratuite, dividente
Boom – un avânt (perioadă de succes)
Boost – a relansa
Borrow – a lua cu împrumut
Borrower – cel care ia cu împrumut
Branch – sucursală
Brand – o marcă comercială
Break even – a echilibra conturile
Bring down – a micşora, a diminua
Brisk – activ, animat
Buck – bancnotă sau bancnote de un dolar (A.E. familiară)
Building society – o bancă populară de economii pentru cumpărare de
Bull – un speculator de bursă (care mizează pe creşterea cursului)
Bullion – lingou din metal preŃios
Buoyant – susŃinut, bine orientat
Buy forward – a cumpăra la termen
Bylaw – prevedere regulamentară
Cap taxes – a fixa un plafon pentru impozite
Cash a cheque – a încasa un cec
Cash flow – flux de numerar
Cash point – un aparat distribuitor de bancnote
Cashier – casier în unităŃi economice
Ceiling – plafon, nivel maxim
Central Bank – banca centrală
Change francs into pounds – a schimba francii în lire
Charge – taxă, preŃ, cheltuieli
Cheque-book – carnet de cecuri
Cheque-book (A.E. checkbook) – carnet de cecuri
Chief executive officer / managing director – director general
Clearance sale – o vânzare la solduri
Clearing-house – cameră de compensare/decontare/oficiu cliring
Close – închidere
Close down – a avea un curs scăzut la închidere
Coin money – a bate monedă
Coins – monede, bani metalici

Collapse – a se prăbuşi
Collateral – garanŃie, gaj / garant, girant, gir
Collect – a încasa, a percepe (impozite)
Commercial / retail bank – bancă comerciale / bancă de depozit
Commodity – o marfă (de larg consum)
Compete with sb. – a concura cu cineva, a face concurenŃă cuiva
Competitive – competitiv
Composite rate – rată compusă
Contribution – cotizaŃie, contribuŃie
Convergence criteria – criterii de convergenŃă
Cost accounting – contabilitate analitică / analiza costurilor
Cost effective- rentabil, care îşi merită preŃul
Cost of living – costul vieŃii
Council tax – impozite locale
Counter – ghişeu
Counterfeit – a contraface, a falsifica, a face bancnote false
Credit a sum to an account – a vira o sumă într-un cont
Credit an account – a credita un cont
Credit rating – evaluare a solvabilităŃii clientelei
Credit squeeze – restrângere a creditului
Credit standing – situaŃie financiară, gradul de solvabilitate
Creditor – creditor
Crisis – o criză
Cross out – a bara
Crumble – a se prăbuşi
Curb – a frâna, a stăpâni
Currencies – devize
Current / checking account – cont curent
Current account deficit – un deficit al balanŃei de plăŃi curente
Current account; account current – cont curent
Custom-made – făcut pe/la comandă
Customs – vamă
Dabble on the Stock Exchange – a juca la Bursă
Deal – o tranzacŃie
Dealer – un dealer
Debit a sum from an account – a debita o sumă dintr-un cont
Debit an account by a sum – a debita un cont dintr-o sumă
Debt – o datorie
Debtor – un debitor
Decline – a decădea, o scădere

Deeds – acte, contracte
Default – a nu onora
Default on a payment – a nu onora o plată
Defaulter – rău platnic
Defer – a amâna, a întârzia
Deficit – un deficit
Deflation – deflaŃie
Delay – a amâna, a întârzia
Demand – cerere
Deposit – a depune
Deposit / time / notice account – cont de depunere
Deposit account – cont de depunere la scadenŃă, de depozit
Deposit bank – bancă de depuneri
Depositor – depunător
Depreciation – amortizare, depreciere
Deregulation – dereglementare
Devaluate – a devaloriza
Devalue – a devaloriza
Dip – a scădea, a descreşte
Direct debit – debitare directă
Directive – o directivă
Discontinue – a înceta (de a mai face ceva), a întrerupe
Discount – a sconta (o poliŃă)
Discount a draft – a sconta o trată
Discount bank – bancă de scont
Dividends – dividente
Downturn, a downswing – un regres
Draw on an account – a scoate dintr-un cont, a retrage dintr-un cont
Draw on sight – a trage la vedere
Draw on someone – a trage (o trată) asupra cuiva
Drawee – tras
Drawer – trăgător
Drop, to fall, to come down – a scădea, a se micşora
Dull – inactiv
Duty –o taxă
Earn an interest – a produce o dobândă
Earnings – câştiguri, venituri (salariale)
Ease – a se relaxa
Encash – a încasa un cec (la bancă)
Endorse – a andosa

Endorse a cheque – a andosa un cec
Endorsement – andosare
Enquiry, inquiry – cerere de informaŃii
Equities – acŃiuni ordinare
Erasure – ştergere, ştersătură
Exceed – a depăşi
Exchange – schimb
Exchange broker – agent de schimb
Exchange bureau – birou de schimb
Exchange rate – rată de schimb
Executive – administrator
Expenses – cheltuieli, plăŃi
Face value – valoarea nominală
Fall back – a se replia
Fall due – a sosi la scadenŃă
Fall, drop in prices – o scădere a preŃurilor
Federal Reserve Bank (the Fed) (A.E.) – banca federală de rezerve,
banca centrală a S.U.A.
Fee – un onorariu
Figure – o cifră
File for bankruptcy, to file under chapter 11 (US) – a-şi depune
bilanŃul, a cere falimentul
Fill in a form – a completa un formular
Finance, to fund – a finanŃa, a acorda fonduri
Financial backing (support) – susŃinere financiară, sprijin financiar
Firm – ferm
Flat rate – rată uniformă
Float (a currency) – a face/ a lăsa să oscileze o monedă străină
Float a company – a lansa o societate
Flourish – a prospera
Foot the bill – a achita nota de plată
Forecast, an outlook – o previziune
Foreign / overseas trade – comerŃ exterior
Foreign resident – rezident străin
Forge – a falsifica, a contraface (bancnote, documente)
Forgery – contrafacere, falsificare, falsuri (bancnote, documente)
Free trade – liber schimb
Fringe benefit – beneficiu suplimentar (în afara salariului)
Futures market – piaŃa tranzacŃiilor la termen
Gain – a câştiga / un câştig, o plus-valoare

Gilt-edged securities – valori/titluri fără risc (obligaŃiuni de stat)
Giro – cecuri poştale
Giro account – cont-cecuri poştal
Give notice – a da un preaviz
Globalise – a se extinde la scară mondială
Go belly up (US) – a da faliment
Go into administration – a fi supus unei proceduri de lichidare
Go into liquidation – a intra în lichidare
Go on a welfare – a se înscrie la asistenŃă socială
Go public – a intra la Bursă, a fi acceptat la Bursă
Go up, to rise – a creşte, a urca, a se mări
Goods, wares – produse, mărfuri
Grant – a acorda, a aloca / o alocaŃie, un ajutor financiar
Grant a loan – a acorda un împrumut
Grant credit – a acorda un credit
Greenbacks – dolari (americanism familiar)
Gross Domestic Product – Produsul Intern Brut
Gross National Product – Produsul NaŃional Brut
Hard cash – bani gheaŃă
Hedge – a se acoperi (risc)
Hike prices (US) – a mări, a creşte preŃuri
Historical cost accounting – contabilitatea costurilor de achiziŃie /
Holder – titular (carte de credit)
Holder of an account, account holder – deŃinător al unui cont
Home savings plan – plan de economii pt. (construcŃia de) locuinŃe
Home trade – comerŃ intern
Hot money – bani fierbinŃi (capital atras din străinătate de dobânzi
ridicate sau de un climat politic sigur)
In cash – în numerar
In custody – în custodie
In real terms – în bani constanŃi
In the red, overdrawn – epuizat, descoperit (un cont)
Incentive – un stimulent
Income statement (A.E.)/operating statement (B.E.) – cont de
exploatare, cont de profituri şi pierderi
Income tax – impozit pe venit
Index – a indexa
Index-linked – indexat

Inflation – inflaŃie
Inflationary – inflaŃionist
Inheritance tax – drepturi de succesiune
Interest – dobândă
International Monetary Fund (I.M.F.) – Fondul Monetar
InternaŃional (F.M.I.)
Investment (B.E. merchant) bank – bancă de investiŃii
Investments – investiŃii
Invoice – factură
Issue – a emite
Jack up – a mări preŃuri
Jewels – bijuterii
Joint account – cont comun
Junk bonds – obligaŃiuni fără valoare
Kickstart the economy – a impulsiona economia
Leave a deposit – a lăsa o garanŃie
Legal tender – ofertă legală, curs legal
Lend – a da cu împrumut
Lending rate – rata de împrumut
Level off – a se relaxa
Leverage – capacitate de influenŃă / raportul dintre creanŃe şi capital /
creşterea rentabilităŃii capitalului unei societăŃi ca urmare a
contractării de datorii
Leveraged buyout – răscumpărarea unei societăŃi datorită creşterii
rentabilităŃii capitalului ca urmare a contractării de datorii
Levy – a percepe, a impune (o taxă, un impozit) / o taxă
Liabilities – pasivul
Liquidation – lichidare
Listed company – societate pe acŃiuni
Loan shark – un cămătar
Loans – împrumuturi
Look up, to pick up – a se redresa
Loss – o pierdere
Loss-making, unprofitable – nerentabil
Lump sum settlement – plată forfetară, plată globală
Make – o marcă (de fabrică), fabricaŃie
Maturity (of a loan) – scadenŃa unui împrumut
Mercantile Exchange – Bursa de mărfuri
Merchant bank – o bancă comercială
Merchant bank / Investment bank – bancă comercială / de investiŃii

Mint – institut britanic de emisiune monetară/ Monetăria Statului
Monetary – monetar
Monetary supply – masă monetară
Money order – mandat poştal
Mortgage – ipotecă
Mutual Fund – societate de investiŃii cu capital variabil
Note – bancnotă divizionară
Offset – a contrabalansa, a compensa
Open up – a avea un curs ridicat la deschidere
Opt-out clause – o clauză excepŃională
Order – o comandă
Outlet – un debuşeu, un punct de desfacere
Outstanding – neachitat, întârziat (la plată)
Overdraft – descoperire în cont, sold debitor
Overdraw (an account) – a descoperi, a epuiza un cont
Overdue – expirat, întârziat, scadent
Overheads, fixed costs – cheltuieli fixe
Overheat – a supraîncălzi
Over-the-counter market – piaŃă de titluri fără valoare
Pace – beneficiar
Paper money – bani de hârtie, bancnote
Pawn – a gaja, a amaneta
Pawnbroker – cămătar
Pay (in) cash – a plăti în numerar, a plăti cu bani gheaŃă
Pay as you earn (PAYE) – plata prin prelevare direct de la sursă
Pay back, to repay – a rambursa
Pay into an account – a vărsa într-un cont
Payee – beneficiar
Pay-in slip – foaie de depunere sau de vărsământ
Payment by installments – plată în rate
Payment in cash – plată în numerar
Payment-in – virament (într-un cont)
Pick up the tab – a achita nota de plată
Plough back profits – a reinvesti profiturile
Plummet – a merge foarte prost, a avea greutăŃi mari
Policy – o politică, o strategie
Portfolio – un portofoliu (de valori)
Postpone –a întârzia, a amâna
Premise – locaŃie
Price index – un indice de preŃ

Prime rate (A.E.) – rată de bază
Private limited company – societate cu răspundere limitată
Privatise – a privatiza
Production, output – producŃie
Profit margin – o marjă de profit
Promissory note – bilet de ordin, cambie, titlu de gaj, obligaŃiune
Pundit – un expert
Purchase – o achiziŃie, o cumpărare
Qualified majority – majoritatea calificată
Quid (B.E.) – bancnotă sau bancnote de o liră (familiar)
Quota – o cotă-parte
Quote – a cota
Quoted or listed company – societate cotată la bursă
Rally – a se reface, a se întări
Recover – a se restabili, a-şi reveni, a se reface
Recurring – care se repetă, periodic, recurent
Recurring expenses – cheltuieli recurente
Reduce, to cut back – a reduce
Refund – a rambursa
Registrar of companies – registrul de comerŃ
Regulation – regulament, reglementare
Remittance – vărsământ
Rents – chirii
Repay, to pay back – a rambursa
Residual value – valoare reziduală
Restrict – a impune o restricŃie
Retail price index – indicele preŃurilor cu amănuntul
Revalue – a reevalua
Revenue – venituri
Rights issue – emisiuni rezervate acŃionarilor
Rise in prices – o creştere a preŃurilor
Running costs – cheltuieli variabile
Safe – casă de bani
Savings – economii, bani economisiŃi
Savings account – cont de economii
Savings Bank – casă de economii
Security – titlu de valoare
Sell at a premium – a vinde sub preŃul pieŃei
Sell short – a vinde la termen, a subevalua
Setback – o cădere, o involuŃie, un regres

Settle – a echilibra un cont, a plăti
Settlement – plată
Share – a împărŃi, a participa împreună
Share – o acŃiune
Shoot up – a creşte vertiginos
Short term – pe termen scurt
Shortage – o penurie
Shortfall – o lipsă, o insuficienŃă
Sight withdrawal – retragere la vedere
Single market – o piaŃă unică
Slacken, to slow down – a încetini, a frâna
Slash – a reduce radical
Slide – a scădea
Slow payer – rău platnic
Slump – a scădea masiv
Small amount, small sum – sumă mică
Solvency – solvabilitate
Spending – cheltuieli
Spin-off – o schimbare radicală
Spot market – piaŃa tranzacŃiilor cu plata pe loc
Spread / Margin – marjă, margine
Squeeze – a presa, a constrânge
Stagflation – stagflaŃie, (stagnare economică + inflaŃie)
Stagnate – a stagna
Stake – participare, interest
Standard of living – standardul de viaŃă
Statement of account – extras de cont bancar
Steady – stabil
Stimulate – a sitmula
Stock Exchange – Bursa de Valori
Stock market – o piaŃă bursieră
Stock, securities – valori, titluri
Stockbroker – un agent de schimb/bursă
Stub, counter-foil – cotor, talon, matcă (de chitanŃă, cec etc.)
Subscribe – a subscrie
Subscription – abonament
Subside –a subvenŃiona
Sue – a face un proces, a chema în instanŃă
Sum – o sumă
Summit – o întâlnire de vârf

Supply / provide sb. With sth. – ofertă, a furniza ceva cuiva
Survey – un studiu, o anchetă
Swap – swap (operaŃie de schimb între două devize prevăzută pentru
o anumită perioadă)
Target – o Ńintă
Tariff – un tarif vamal
Tax – a impune taxe, a impozita
Tax allowance – scutire de taxe
Tax break – o reducere/ scădere de impozit
Tax collector – un perceptor
Tax haven – un paradis fiscal
Tax relief – degrevare de impozit
Taxpayer – un contribuabil
Telegraphic money order – mandat telegrafic
Thrive, to prosper – a prospera
Tighten one’s belt – a strânge cureaua
Trade – a face comerŃ
Trade bank – bancă comercială
Trade gap – un deficit comercial
Transfer – a transfera, a vira
Traveller’s cheques (A.E. traveler’s checks) – cecuri de călătorie
Treasury – tezaurul public
Trend – o tendinŃă
Trust – a avea încredere, a încredinŃa
Turnover – volumul afacerilor
Underwrite – garantarea subscrierii unei emisiuni
Upturn, an upswing – o redresare, o ascensiune
Valuables – obiecte de valoare
Valuables / deeds – acte, valori
Value added tax – taxă pe valoarea adăugată
Venture capital – capital de risc
Veto sth. – a-şi exprima dreptul de veto faŃă de ceva
Volatile – nervos, febril
Wind up – a lichida
Withdraw – a retrage
Withdrawal – prevelare, retragere
Write out (to make out) a cheque – a trage, a întocmi un cec
Yield – a aduce, a produce venit
Yield – randament
Yield an interest – a produce o dobândă

Cheia exerciŃiilor
Module 1

Reading – Summary B is the best. The other two are, according to
the text, wrong.
• Practice 1 – a model version of the dialogue
Visitor: Hello, my name’s Henrik van der Linden from Amtel. I have
an appointment with Sandra Bates.
Receptionist: Oh, yes, Mr Van der Linden. Welcome to Datalink. Ms
Bates will be along in a few minutes. She’s just finishing a meeting.
Can I get you something to drink?
Visitor: No thanks, I’m fine. Er, but I wonder if I could use the
Receptionist: Yes, of course. And anything else… if you need to
send a fax or anything…
Visitor: No, it’s okay, just the phone.
Receptionist: Right, well you can use this one.
Visitor: Thanks. (dials) Hallo, (fade)
(a few minutes later)
Visitor: (fade in) Au revoir. (click) Thank you very much.
Receptionist: Not at all. If there’s anything else you need, please ask.
Visitor: Yes, I was wondering how far is it to the station?
Receptionist: It’s about two miles – ten minutes by taxi. Shall I book
Visitor: Er, yes, thank you. that would be good. Can we say four
Receptionist: Right, I’ll do that. Oh, I think Ms Bates is free now.
Shall I take you to her office?
Visitor: With pleasure. Thanks.
• Exercise 1 – First words
Visitor: a, d, f, g, i, k // the person receiving the visitor: b, c, e, h, j, l,
• Exercise 2 – Ending the small talk
a) B; b) A; c) B; d) B; e) A


Module 2
• Reading – find words
1 literal
a. direct and clear
2 understatement
b. less strong way of talking
3 deduce
b. work out
4 vague
a. unclear
5 devious
b. dishonest
6 pleasantries
c. polite remarks
• Exercise 1 – Making a call
(in order): speak to; through; office; can; hello; bad; speak; speaking;
put; through; hold; office; moment; number; ring; back; on; message;
rang; call
• Practice 1 – a model answer
Reception: Good morning, Gorliz and Zimmerman.
Lara Camden: Hello, my name’s Lara Camden from Bulmer Cables
Ltd. Please could I speak to Mr. Conrad Bird?
Reception: I’m sorry, but Mr. Bird is not in at the moment.
Lara Camden: I see. Er… when do you think I could contact him?
Reception: Well, at the moment he’s away. Would you like to leave
a message?
Lara Camden: Yes, perhaps you would ask Mr. Bird to call me? My
name’s Camden, Lara Camden, on 0181 299 462.
Reception: Right, that’s Lara Canden on 0181 299 462. Okay?
Lara Camden: Yes, er… Camden. C…A…M…D…E…N.
Reception: Oh yes, sorry! I’ve got that now.
Lara Camden: Thank you. I look forward to hearing from Mr. Bird.
Reception: It’s a pleasure. Thanks for calling. Bye for now.
• Practice 2 – a model example of the conversation
Intership: Intership, good morning.
Computech: Hello, my name’s Alex Hall from Computech Arcos in
Intership: Sorry, did you say Alex Hall from Computech Arcos?
Computech: Yes, that’s right.
Intership: Okay, how can I help you, Mr. Hall?
Computech: Well, I’d like an appointment with Mr. Dionis.
Intership: Can you tell me what’s about?
Computech: Certainly. I’d like to discuss the transporting of goods
from Singapore to Athens.
Intership: I see. When would be a good time for you to come here?

Computech: May I suggest next week?
Intership: I’m sorry, next week’s not possible – Mr. Dionis is away
next week. How about the beginning of the next month?
Computech: Yes, that would be okay. Could we say Monday 3rd of
Er, unfortunately Mr. Dionis is busy all day on that
Monday. He could make it Tuesday 4th.
Computech: That’s fine. Shall we say ten a.m.?
Intership: Yes, that’s a good time for us. Erm… can I ask you to
confirm by fax? And would you like us to book you a hotel?
Computech: I’ll fax – and thank you but no, the hotel booking isn’t
necessary. I think that’s everything, for now –
Right, many thanks, we look forward to your fax to
confirm the meeting. Goodbye, Mr. Hall.
Computech: Bye for now.
A model of a fax message of confirmation:
Computech Arcos
Lorong One Toa Payoh
Singapore 1253
Telephone: ++65 350 574
Fax: ++65 250 552
Fax to: Mr. Dionis (Intership S.A.)
Fax Number: 30 1 657677

Page 1 of 1
Date: 19 April 19—

Re. Meeting with Mr. Dionis
With reference to our phone conversation of this morning I write to
confirm my appointment with Mr. Dionis next month.
Subject: Transport of goods from Singapore to Athens.
Date of Meeting: Tuesday 4th May at 10 a.m.
I also confirm that I will make my own hotel arrangements.
I look forward to meeting Mr. Dionis next month.
Best regards


• Exercise 2 – Changing arrangements
See language input.
• Practice 3
Tao Loon: Hello, Sales Office here.
Luisa: Hello, my name’s Luisa Dominguez. I’m ringing from Spain
– from Berraondo Company.
Tao Loon: How can I help you, Ms Dominguez?
Luisa: The problem concerns a printer order. Let me give you the
order number – it’s HF5618. It’s – it’s for twenty printers. The
problem is that only seventeen have arrived.
Tao Loon: Really? I’m surprised to hear that.
Luisa: Well, I’m afraid it’s the second time we have received and
incomplete delivery and nobody told us there would only be
Tao Loon: Well, no, I think it was probably an administration
Yes, I’m sure. Now, we need the other three printers
urgently. Delays are causing us problem with our customers. They are
rather unhappy.
Tao Loon: Okay, er, at the moment we have some stock problems.
Luisa: Well, can you give me a delivery date – it’s very urgent.
Tao Loon: Right – let me see. We can promise you a despatch next
Luisa: No, I’m sorry, that’s not good enough. We need despatch
Tao Loon: I’m sorry – that’s not possible. But we’ll despatch on
Monday, I assure you.
Luisa: Well, will you please send a fax to confirm that.
Tao Loon: Of course. And I do apologize for the problem.
Luisa: Right, goodbye for now.
Tao Loon: Goodbye.
• Reading
a. True; b. True; c. False; d. False; e. True; f. False

Module 3
• Practice 1
Tokyo medical congress
a. Probably very formal.

b. High expectations in terms of technical support, a fair amount of
detail and clearly a lot of expertise.
c. High level of specialist knowledge – audience are experts.
d. Depends on congress organization – probably less then an hour.
e. Depends on congress organization – probably questions follow.
f. Use of visual supports with key information, plus later publication
of Congress Proceedings
Purchasing and Product Managers of a Taiwanese company
a. Probably semi-formal.
b. High expectations in terms of technical support, a fair amount of
detail and clearly a lot of expertise.
c. High level of specialist knowledge – at least the Product Manager
will be very expert, the Purchasing Manager perhaps less so.
d. Depends on objectives and on complexity of equipment. Could be
a very long presentation, even a whole day or a one hour
presentation might be enough.
e. Probably interruption are encouraged to make everything clear as
the presenter goes along.
f. Use of visual support, photographs, diagrams, or the actual
machine itself. Follow-up documentation will also be available.
Internal meeting / administrative staff
a. Informal.
b. Reasonably high expectations in terms of speaker’s knowledge.
c. The audience will probably have good background knowledge but
have come to learn about a new system.
d. Probably short – thought it might be half a day!
e. Interruptions encouraged.
f. Probably illustrations, possibly handouts.
A staff meeting / charity event
a. Informal.
b. Low expectations.
c. The audience have come to hear ideas.
d. Probably short – five or ten minutes?
e. Interruptions encouraged.
f. Keep to clear simple structure making one or two important
• Practice 2
Subject / title of talk.
Introduction to oneself, job title, etc.
Reference to questions and / or discussion.

Reference to the programme for the day.
Reference to how long you are going to speak for.
Reference to the visual aids you plan to use.
The scope of your talk: what is and is not included.
An outline of the structure of your talk.
A summary of the conclusions.
Note: There are no hard rules about what should be included. Most
suggestions here are open to discussion and
variation, depending on circumstances.
• Reading
• Visuals make information more memorable
• Help the speaker
• Show information which is not easily expressed in words
• Highlight information
• Cause audience to employ another sense to receive information
• Bring variety and therefore increase audience’s attention
• Save time
• Clarify complex information
• Presenters sometimes place the major emphasis on visual aids and
relegate themselves to the minor role of narrator or technician
• Visuals must support what the speaker says
• It is not enough just to read what the visual says
• Reading
• Find out about the audience.
• Find out what they need to know.
• Plan what you’re going to say.
• Say it clearly and concisely.
• Introduce information using lists.
• Give a link between parts of the presentation.
• Provide a logical sequencing of information.
• Use careful repetition of key information.
• Don’t give too much information or too many fact.
• Reading
a. The main body of the presentation contains the details of what
was introduced in the introduction.
b. See figure included in the text.

• Practice 4 – a model of presentation
Good morning, everyone. I’d like to talk about the advertising mix for
the new Cheri range of beauty products. We are planing two
categories of advertising, above-the-line and below-the-line. I’ll talk
first about above-the-line advertising. There are three kinds: these are
television commercials, secondly, newspapers – newspaper
advertising. The third kind is magazines. There are two basic types we
aim at: youth magazines and those aimed specifically at the women’s
market. Now, below-the-line advertising: there are three methods here
also: the first is in-store advertising, then there’s on-pack promotions
and finally targeted mailing. So, in-store advertising: what does it
mean? Basically, displays in the shop, merchandising, and that sort of
thing. The second below-the-line advertising is on-pack promotions –
there are many kinds, most obviously things like coupons,
competitions, joint promotions and free samples. The last kind of
below-the-line advertising is targeted mailing, using a mailing list.
That completes the overview of what we can do to launch the product,
• Reading
a. No response from the audience.
• A truly successful and interesting talk will avoid the problem.
• The speaker can give an instruction to the audience – especially in
sales presentations.
• To have question prepared to ask the audience, or identify
someone whom you know will have something to say.
• Handling questions
Difficulties may arise because:
1.questions / discussion is relatively unstructured
2. the speaker has less control
3. speaker has to switch into listen and answer mode
4. it may be difficult to hear, to understand, to answer or to distinguish
between an opinion and a question.
• Practice 5 – model answers
1. So, that concludes what I want to say, so now I’d like to ask you
for your comments, opening up discussion, or perhaps you have a
question or two?
2. Er, in fact what I said was this process has been going on for a
very long time. I’m sorry if I was not clear on this point.

3. I wonder if anyone can suggest why this has happened or if
anzone has any comments on it?
4. Yes, you’re right, but can I suggest one or two other factors? One
is the increasing number of take-overs of smaller companies…
5. So are you saying that in the USA or Europe that could not
6. Yes, I agree, but the situation is changing.
7. Sorry, I don’t quite follow you. Can you say that again … put it
another way …?
• Exercise 1 – The new product
Introducing yourself
Good morning ladies and gentlemen; we haven’t all met before so I’d
better introduce myself. I’m Luis Lopez from the development
department of Citrus Incorporated… I should say before we start that I
hope you’ll excuse my English. I’m a little out of practice…
Preparing the audience
Anyway, I’m going to be talking this morning about a new product
which we are planning to launch in two months’ time; it’s called
KOOL-OUT, that’s K-O-O-L dash O-U-T, and it’s a lemon-flavoured
Well, I’ll start with the background to the product launch; and then
move on to a description of the product itself, I’m going to list some
of the main selling points that we should emphasize in the advertising
and sales campaign. I think if you don’t mind, we’ll leave questions to
the end…
Delivering the message
Now firstly, as you all know, we had a gap in our soft-drink product
range for the last two years; we have been manufacturing mixed-fruit
drinks and orange drinks for the last ten years, but we stopped
producing lemonade two years ago; I think we all agreed that there
was room on the market for a completely new lemon-flavoured drink
… Secondly, the market research indicated that more and more
consumers are using soft drinks as mixers with alcohol, so in other
words, the market itself has expanded.
This brings me to my next point which is that we have rather new
customer-profile in mind; I must emphasize that this product is aimed
at the young-professional, high-income, market and not the traditional
consumer of old-fashioned lemonade. At this point we must consider
the importance of packaging and design, and if you look at the video

in a moment, you’ll see that we have completely re-vamped the
container itself as well as the label and slogan…
Now to digress for just a moment, the more sophisticated packaging
means a high unit cost, and this may be a problem in the selling area,
but we’ll have a chance to discuss that aspect later… so … to go back
to my earlier point, this is a totally new concept as far as Citrus
Incorporated are concerned; as you see we are using both the new-size
glass bottle and the miniature metal cans.
Finally, let’s look at the major attractions of the product. In spite of
the higher price it will compete well with existing brands; the design
is more modern than any of the current rival products, and incidentally
the flavour is more realistic and natural… it’s low calorie, too.
O.K., so just before closing, I’d like to summarize my main points
again… We have KOOL-OUT, a new design concept, aimed at a
relatively new age and income group; it’s designed to be consumed on
its own, as a soft drink, or to be used as a mixer in alcohol-based
drinks and cocktails. It comes in both bottle and can and this will
mean a slightly higher price than we are used to; but the improved
flavour and the package design should give us a real advantage in
today’s market… well, that’s all I have today for the moment, thank
you for listening, now if there are any questions, I’ll be happy to
answer them…
• Exercise 2 – The product presentation
See the model presentation and use the words in italics.
• Exercise 3 – Can I interrupt here?
A 2; b 3; c 4; d 5; e 1
• Exercise 4 – Anticipating questions
(suggestions) a. I can hear you say… b. Now you may well ask, what
does he mean by… c. An obvious problem is the cost of the
accessories. d. You will have noticed that… e. Now you may well

Module 4
• Practice 1
a. Welcome, everybody. Thank you for coming.
b. We are here today to talk about … (and to decide …; to look at)

c. We have an agenda with three points. (You’ve all seen the agenda.
I’d like to ask if anyone has any comments on it.)
d. I think Mr. Kano is ready to tell us something about … (Can I ask
… to open with his remarks.)
e. If you don’t mind, can we let Mr. Kano finish? (Sorry, …, I can’t
allow us to consider that question just yet…)
f. Thank you for that …
g. Now, can I ask Ms Perez de Sanchez to tell us her views…
h. Er, can we try to keep to the topic – I think we have gone away
from it a little.
i. I’d like to sum up the main points. (So let me summarize that.
You say that …)
j. Would anyone like to say anything else on this? (Does anyone
have anything to add to that?)
k. I think we ought to move on to the next topic on the agenda.
l. So, before the next meeting, I’ll send out a report on this one, Mr
Kano will prepare (…) and will then fix a new date, some time
next month.
m. Thank you. that’s everything. That’s it for today.
• Practice 2
1. A model of Agenda
Axis Finance Limited
Marketing Group: Year-end meeting



Apologizes for absence
Minutes of previous meeting
Chair’s opening address
Personnel changes
Review of marketing performance in the current year
New products
Marketing plans for next year
Any other business
Date of next meeting

2. The chair’s opening statement: a model
Okay I think we should begin. Thanks for coming – and as you know
– this is … we are here for our annual meeting. As you know from the
agenda there are four main issues to discuss. The first to review is the
personnel changes. Secondly, we’ll look at the marketing
performances in the current year. Then we’ll discuss about new
products. And finally, we’ll examine the marketing plans for the next
year. So – any comments, any suggestions, or is everyone happy with
the agenda? Okay, then let’s start with item one on the agenda. I think
Mr. Smith has prepared a statement on the personnel changes so I’ll
hand over to him.
• Practice 3 – a model conversation
A: The fall in sales is mainly due to the recession affecting world
B: Er, can you tell us exactly how much sales have gone down?
A: Well, it’s a general fall of around 5 % in sales for most product
areas. Also, specifically in the oil processing sector, we have much
lower sales, mainly because we sold our UK subsidiary, Anglo Oils.
B: Can we talk about the decision to sell Anglo Oils …
A: Well, no, I’d rather not go into that. We discussed that in previous
meetings. I’d prefer to talk about future prospects. The outlook is very
good just now…
B: What? I’d say things look quite bad.
A: I’m very surprised you say that. In fact, sales forecasts are much
better now. Anyway, let me tell you …
B: Sorry, I think I’d like to hear more about new markets.
A: New markets? Yes, but can we talk about new markets later? I
have some important information on that. But first…
B: Wait, don’t you think we should take a short break – have a
A: Take a break? We’ve only just started!
• Reading
a. Decision making meetings.
b. The structure of decision making: see the bulleted points in the
second paragraph.
c. Communication has to be a two-way process to be successful.
a. Not all meetings are to make decision – as implied in the first
sentence of the text. Decisions may already have been made, so a

meting is called to tell people about the decision (an information
giving meeting).
b. An alternative description of the structure of decision making is
the DESC model, which is included in the Skills Checklist.
c. In many instances of communication, a message is given and it is
sufficient that it is comprehended, without even an
acknowledgement (a recorded message, for example). However,
this may be slitting hairs: the point is that in meetings at least an
acknowledgement or agreement is expected. It seems fair to say
that in most cases, communication is a two-way process.
d. It is true that often an agreement, or a consensus, can be arrived at
without a formal vote: it is the leader’s responsibility to make
clear what the consensus is and ask if everyone accepts it.
a. consensus
b. time- and cost-effective manner
c. goal
d. set an objective
e. imperatives
f. desirables
g. evaluate alternatives
h. perception
i. awareness / empathy
j. evolve
k. verbalize
• Reading
a. – a restatement of objectives
- a summary of what has been accomplished
- a summary of what action must be taken after meeting
b. Meetings should be part of a learning experience, so future
meetings can be improved by asking participants to evaluate
• Practice 4 – a model conversation
A: Can we reach a decision on this?
B: Well, I … I think … er, I think we need more information.
A: Hmm. Can you explain – say exactly what sort of detail you think
we need?
B: Well, I feel first of all, we need to know more about the effects of
a price increase.
A: Perhaps we should, er, commission some market research?

B: Yes, I agree. That’s right. We could ask Hamid to recommend
A: Well, I think before that we could look at our own experience of
price rises. Then later we can perhaps ask a marketing consultancy.
Does everyone agree with that proposal?
All: (murmur of agreement)
A: Okay, let’s move to the next item on the agenda.
• Practice 5 – a model example
So, we’ve almost finished. Does anyone have anything else to say?
Well, we had to decide on action regarding training courses. To
summarize, to confirm our decision, we’ve agreed a $10,000 budget.
And also that Peter is going to identify three possible training
organizations. Is everyone happy? Is that okay? Now, Peter will
organize a presentation for next week, on the 14th at 2 p.m. until then,
thanks everyone for coming. That’s it for today.
• Exercise 1 – Chairing a meeting
Chairman I’d like us to reach a decision today about item 1. The
issue is falling sales in the Italian market. Henry will explain the
background to this, and the present situation.
Henry Thanks. Well, as you know, in Italy we’ve always… so that’s
how things are at the moment.
Chairman Thank you, Henry. Now, let’s look at possible courses of
Could I just say something ? The Italian market isn’t as
important to us as the Russian orders. I was in Moscow last week, and
learnt some pretty interesting things about the way things are moving
out there.
Chairman Let’s keep to the immediate subject, which is the Italian
Sorry to interrupt, but if we launch a new advertising
campaign in Italy it would cost a fortune! You said yourself that we
haven’t enough money to advertise on every television in Europe!
Chairman Let’s not jump too far ahead at this stage.
My own feeling is this : in years of experience, in many
different markets throughout the world, I’ve often found that, when…
and you know, if I could pass on my experience to the younger people
here, I’d say that the only way to sell in Italy is to go there and see the
market for yourself, instead of asking your agents to do it.
Chairman Sorry to interrupt you, Bob, but I’d like to know if the
others agree. What do you think about this, Walter?

Walter I’m not too sure about this . My own feeling is that if…
Bob I don’t know why you don’t ask me. I’ve been to Italy so many
times recently.
Chairman Could you let Walter finish? I’d like to have his view on
this .
Walter Well, I’d like to say that for the last two years we haven’t had
a stand at the Milan Trade Fair. I understand that the Fair has
produced lots of contracts in the past.
Chairman That’s an interesting point, Walter . Let’s summarize what
we’ve said so far. Bob thinks we depend on the agents too much, and
Walter suggests that the Trade Fair is important.
• Exercise 2 – Formal meetings
a. address; approve; move; second; carried; casting; on
b. true: 1, 2, 6, 7
false: 3, 4, to second means to give formal support to the motion
for presentation to the board, 5 to abstain means to decide no to
• Exercise 3 – Could I ask you a question?
You: I’m afraid I can’t comment at the moment.
You: A statement will be issued shortly.
You: I’m sorry, but I can’t comment at this stage.
You: Yes, I’m pleased to be in your country.
You: I can’t tell you anything before the statement is issued.
You: I would rather not answer that question at present.
You: I did not say that at all.

Module 5
• Practice 1 – a model
a. Well, welcome to … It’s very good that you could come to see us
b. I hope you had a good trip? Not too long …? Did you get a taxi
when you arrives here?
c. At lunchtime we’ll be able to show you a little bit of the city –
have something to eat in a local restaurant.
d. Well, shall we make a start?
e. Okay, well, can I ask Luke Fox, from our Marketing Department,
to begin our discussion with some opening remarks. I think
you’ve met James already this morning, and a little while ago too?


Firstly, we see this meeting as an exploratory session, I think it’s
best for both of us that we look at some general questions.
g. We’d like to establish the beginnings of a partnership … It would
be particularly interesting for us to learn about your supply
systems … about price variations and about supply costs.
• Practice 2
Identify your minimum requirements.
Prepare your opening statement.
Decide what concessions you could make.
Know your own strengths and weaknesses.
Know your role as part of a team.
Prepare your negotiation position – know your aims and objectives.1
Prepare any figures, any calculations and any support materials you
may need.
a. Knowing your aims and objectives
ii. helps clear thinking and purpose.
b. Knowing your own strengths and weaknesses
iv. helps you to know the market, the context in which you want to
c. Preparing any figures, calculations and other materials
5 means you can support your argument.
d. Preparing an opening statement
iii. creates reasonable expectations.
• Reading
a. T
b. F Better not to guess (though privately you might to some extend).
c. T
d. F Issues are best dealt together with other issues, in a package.
e. T One should usually be prepared to make concessions.
f. T
g. F No, one can keep on talking and find a way round the problem.
a. Check what they say without commenting, at least not
b. Vary the quantity or the quality, or bring in third parties.
c. Be prepared, think about the whole package, be constructive.


Practice 3
We can give you free delivery with a larger order.
We provide free on-site training for only a small price increase.
We can give 5 % discount if you agree to payment on delivery.
We can offer you an extra £50,000 compensation in exchange for
your agreement not to go to law.
f. We promise to improve safety for staff provided that we reach
agreement on new contracts.
g. The company will introduce better working conditions if the staff
accept shorter breaks.
• Practice 4
Ojanpera: Well, we’re happy to buy a machine if you can give us a
good price.
Beck: I’m sure we can. As you know our prices are very competitive.
Ojanpera: Even so, I’m sure you can allow us a discount?
Beck: Okay, well a discount could be possible if you agree to pay for
the shipping costs.
Ojanpera: That sounds okay, if the discount is a good one.
Beck: How about 4 %?
Ojanpera: 6 % would be better.
I’m sorry, we can’t manage that unless you pay for the
Ojanpera: Okay, our engineers will take care of that.
Beck: Okay then, so to confirm: a 6 % discount but you pay all the
shipping and installation costs.
Ojanpera: That sounds all right.
• Practice 5
Units 9-12 East Side Monks Cross Industrial Estate BRISTOL BSI4
Telephone 01272 547777 Fax 01272 547701

Neil Finch
Ministry of Urban Development
140- 144 Whitehall
London WCI 4RF

May 2 200—

Dear Neil,
Re: Meeting in Bristol, April 30 --- ‘Railway Land Sale’
I am writing to (a) confirm points (b)agreed in the above meeting,
held to discuss the sale of government owned railway land to Gibson
Trust Limited.
We would like to confirm through this letter and the (c) enclosed
drawings that the property (d) included in the above sale consists of
the land presently occupied by the station buildings and also the
former car parks to the east of the station, the offices to the west and
the warehouse alongside the tracks. The government-owned housing
on the north side of the railway lines is (e) excluded .
We also agree that the station will be renovated by the Transport
Department and that the government will be responsible for running
an eventual museum and paying a rent of £ 100,000 per year to
Gibson Trust. The remaining land will be (f) developed by Gibson
Trust and later sold off separately. The development is intended to be
for commercial and residential use. The eventual use of the land
should be (g) specified in the contract.
Our next meeting will be on May 15 at 10 a.m., at which development
plans will be (h) examined. Soon after this, contracts will be (i) drawn
up. Then we will need time to consider the contracts but hopefully
they will be (j) signed by the end of September.
Do contact us if you have any comments or alterations you would like
to make to this summary. Thank you once again for a very
constructive meeting and we look forward to seeing you again on May

Your sincerely,

Jill Kearne
Chief Negotiator
Encs. (I)
• Reading
a. emphasize the benefits available to both sides
b. invent new options for mutual gain
c. change the package
d. adjourn to think and reflect
e. change location
f. change negotiator (personal chemistry?)
g. bring in a third party (mediator?)
h. fix an off-the-record meeting
• Practice 6
Situation 1
The problem is that we have never offered the kind of warranty you
are looking for.
Since we have a difficulty here, may I suggest we leave the problem of
the warranty and come back to it later? Perhaps we could talk about
training for our technical staff?
Situation 2
There’s a number of issues on the table. We seem to be a long way
from an agreement.
Can I suggest a lower price, but link this with us paying the shipment
costs or agreeing to different payment terms?
Situation 3
The price you are asking is rather high, quite a lot higher than we were
Well, if it would help, we could agree to longer payment terms
Situation 4
There are several problems. We think there is quite a lot of negotiation
ahead before we can agree on a common strategy.
The benefits of reaching agreement are considerable. We will have
more global influence and better prospects for the future.
• Strategies in dealing with conflict
Strategy 1
I think we’re not really making much progress. Perhaps it would be
better to leave this point for a while and come back to it later. Could
we talk about a different aspect to the deal, perhaps the question of

Strategy 2
I think it is important to think about what could happen if we do not
reach agreement. The most obvious consequence will be that we will
both lose market share. The only winners will be our competitors. It
could be serious for both of us.
Strategy 3
There seem to be a number of problems, but I’d like to summarize the
positive elements – issues where we have made progress. First, we
agree that we have to settle the dispute between us, we understand
how important this is. Second, we agree that the terms of our original
agreement need to be changed. Third, we also agree that the change
will depend on the different market conditions which affect our
products… These are important points of progress.
Strategy 4
Can I suggest we take a short break? I think it will help if we look at
some of the issues that are dividing us. Perhaps we will see areas
where we can make a fresh offer.
Strategy 5
The point at issue, Mr. Cinis, is quite simple. We can offer you an
extra 5 % discount, but only if the order is increased by 20 % over the
next three years.
• Practice 7
Situation 1
Let me make a suggestion. If you agree to buy 100 units every month
for the next twelve months, we’ll agree a 10 % discount.
Unfortunately, I can’t say how many we’ll need in six months and
certainly not in twelve. I can’t take the risk on such a large order at
this stage.
Situation 2
The price we are offering excludes installation costs but does include
a twelve month’s guarantee.
I’m afraid that’s not really acceptable. You know that other suppliers
offer free installation and two year parts and labour warranty?
Situation 3
I think the absolute minimum investment in advertising must be
$40,000, otherwise we cannot reach enough of our market. It’s not
much to ask for.
It’s a pity but it’s still more than our budget. I can’t go that high.
Situation 4

Now, some excellent news: we’d like to increase our order. Right now
you are sending us 350 boxes a month. We need at least 500, demand
is very high …
Well, I’m glad you’re having a lot of success with our products, but
the bad news is that our order books are full, and the plant is working
at full capacity. We’re a bit stuck I’m afraid
• Practice 8
Situation 1
It’s been a long meeting, but finally I’m very glad we’re able to reach
agreement. I think it would be good if we could go on to a restaurant
now, we’d be pleased if you can join us.
Situation 2
I’m sorry our efforts to reach agreement have not been successful. I
suggest we stop here, but I hope that in the future we might work
together on something.
Situation 3
Unfortunately I feel it would be better if I don’t join you on this
project, but no doubt there’ll be plenty of other things we’ll work on.
Situation 4
I’d like to repeat our order, but not on those terms. I’m sorry, we can’t
agree to this. I think we’ll go elsewhere, but thanks anyway.
Situation 5
I’m sorry, but it really is physically impossible. We cannot supply
goods in so short time. It’s just impossible. Sorry we can’t help you.
• Exercise 1 – Your turn to negotiate
Suggested replies: Let’s see how we get on. Why such a long delivery
period? This is our position. We need delivery of six weeks
maximum, with four weeks for installation. I’m sorry, but I can’t
accept eight weeks. You’ll have to do better than that, I’m afraid. I’m
afraid I can’t increase the delivery period any further. I have my
instructions. May I make a suggestion? If you can promise delivery in
six weeks, then we may be able to talk about further order. Let’s go
through the terms: six weeks for delivery and four weeks for
installation; and the decision about the next order to be taken by the
26th. Agreed?
• Exercise 2 – Ten rules for negotiating
a 4; b 6; c 1; d 8; e 2; f 5; g 7; h 3.
• Exercise 3 – When things get difficult
A. Would you like me to go through that again? B. I’ll have to come
back to you on this. C. Could you give me a moment to do some

calculations? D. What is the basis of calculation for transport? E. I’m
just looking. Could you bear with me a moment? F. The figure for
installation costs? What is the basis for calculation? G. I’m sorry,
could you go through it again?
• Exercise 4 – Vocabulary for contracts
a. agreement; parties; sections; clauses; conditions. b. provides for,
binding; abide by/comply with; breach c. arbitration; litigation;
compromise; court; out of court d. term; terminate.
• Exercise 5 – Licensing terms
(in order): have the legal rights over; let you have; permission;
country; an immediate payment; 5 % to pay; yearly bottom limit;
period; further years; when it ended; illegal copying; official
manufacturer; ask for a ban; copier’s.

Module 6
• Discussion
A personal choice of qualities: D, F, H, and J.
• Vocabulary
a. 1 resources 2 manageable 3 setting, communicate
4 supervise, performance
5 achieved
6 board of directors
7 innovations
b.Common collocations include: allocate resources (or people);
communicate information or decisions; develop strategies (or people
or subordinates); make decisions; measure performance; motivate
people; perform jobs; set objectives; and supervise subordinates.
Module 7
• Vocabulary
1 C; 2 E; 3 B; 4 A; 5 F; 6 G; 7 D
• Reading
A functional structure
B matrix structure
C line structure
D staff position


• Describing company structure
Here is a short description of the organization chart illustrated.
The chief Executive Officer reports to the President and the Board of
Directors. The company is divided into five major departments:
Production, Marketing, Finance, Research & Development, and
Human Resources. The Marketing Department is subdivided into
Market Research, Sales and Advertising & Promotions. The Finance
Department contains both Financial Management and Accounting.
Sales consists of two sections, the Northern and Southern Regions,
whose heads report to the Sales Manager, who is accountable to the
Marketing Manager.
Module 8
• Vocabulary
a. 1 subcontractor
2 component
3 outsourcing or contracting out
4 capacity
5 plant
6 location
7 inventory
8 lead time
b. 1 A and E 2 C
4 A and E
5 A and E
10 E 11 B 12 E 13 B 14 C and E
15 B and F
• Reading
1 component 2 subcontractor 3 inventory
4 outsourcing
5 location
6 plants
7 capacity
8 lead times
• Reading
1. What is a product? / The definition of a product.
2. Brand names.
3. Product lines and product mixes.
4. Line-stretching and line-filling.
• Vocabulary
1 credit facilities
2 warranty or guarantee
3 shelf
4 brand-switchers
5 (product) life cycle 6 profitability
7 opportunities
8 market share 9 image
10 niche
Module 9
• Vocabulary
10 G








• Reading
Paragraph 1 – the selling and marketing concepts
Paragraph 2 – identifying market opportunities
Paragraph 3 – the importance of market research
Paragraph 4 – the marketing mix
Paragraph 5 – company-to-company marketing
• Comprehension
1. Customer needs; 2. Market; 3. Coordinated marketing; 4. Profits
through customer satisfaction
• Vocabulary
1 word-of-mouth advertising
2 institutional or prestige advertising
3 advertising agencies 4 an account 5 an advertising budget
6 a brief
7 advertising campaign
8 target customers or target market
9 media planners
10 the threshold effect 11 the comparative-parity method
12 counter-cyclical advertising
• Discussion
The numbers of respodents who agreed with the statements were as
1. 90% 2. 72% 3. 85% 4. 51% 5. 41% 6. 49% 7. 60% 8. 57%
• Reading
1 target
2 awareness
3 medium
4 tactics
5 trial 6 maturity
7 aimed
8 loyalty
9 advertising
10 channel
• Summarizing
1 When a new product is launched, the producer has to inform
customers about its existence and develop brand awareness.
2 Promotion is one of the four elements of the marketing mix; sales
promotions are one of the four different promotional tools.
3 The advantages of publicity include the fact that it is much cheaper
than advertising, and can have a better impact, because it seems that
people are more likely to read and believe publicity than advertising.
4 The four stages of the standard product life cycle (excluding the prelaunched development stage) are introduction, growth, maturity and
5 Reasons to offer temporary price reductions include attracting priceconscious brand-switchers, offsetting a promotion by a competitor,
and, for stores, attracting customers by way of ‘loss leaders’.


6. Sales promotions need not only be aimed at customers; they can
also be used with distributors, dealers and retailers, and with a
company’s sales force.
7. Apart from selling a company’s products, sales representatives
bring information back to a company from its customers, including
ideas for new products.
• Vocabulary
1. competitors 2 word-of-mouth advertising
3 brand-switchers
4 points of sale 5 brand name 6 line-stretching
7 packaging
8 product improvement
9 media plan 10 packaging
Module 10
• Reading
1 Market leaders
2 Expanding markets
3 Market challengers
4 Market followers
5 Establishing a niche / Dangers faced by market followers
• Vocabulary
1 market share
2 promotions 3 monopoly
4 competitors 5 slogan
6 market segmentation 7 niche
8 differential advantage
9 turnover
10 recession
• Vocabulary
1 to innovate (innovation)
2 to diversify (diversification)
3 to merge (a merger) 4 a raid
5 a takeover bid
6 horizontal integration
7 vertical integration 8 backward
9 forward integration 10 synergy
• Summarizing
1 The fact that many large conglomerates’ assets were worth more
than their stock market valuation demonstrated that they were clearly
not maximizing stockholder value, i.e. giving their stockholders the
maximum possible return on their investment.
2 Raiders bought conglomerates in order to strip them of their assets,
i.e. to restructure them, split them up, and resell the pieces at a profit.
3 Raiders showed that the stock market did not necessarily value
companies’ assets correctly, especially land, buildings and pension


4 Raiders were particularly interested in companies with large cash
reserves, companies with successful subsidiaries that could be sold,
and companies in fields that are not sensitive to a recession.
5 Investors were prepared to lend money to finance LBOs because
they received a high rate of interest which more than compensated for
the risk that the bonds would not be repaid.
2. Raiders argue that the possibility of a buyout forces company
managers and directors to do their jobs well, and to use their
capital productively.
• Vocabulary
1 charities
2 legitimacy
3 perfect competition 4 welfare
5 threatening 6 vitality
7 free enterprise
8 conforming
9 embodied
10 proponents
Module 11
• Vocabulary
• Vocabulary
1 shareholders or stockholders 2 earnings or income 3 liabilities
4 turnover
5 assets
6 depreciation or amortization
7 debtors or accounts receivable
8 creditors or accounts
9 stock or inventory
10 overheads or overhead
• Reading
1 assets
2 stock or inventory
amortization 4 shareholders or stockholders 5 earnings or income
6 turnover
7 overheads or overhead
8 liabilities
9 debtors or accounts receivable
10 creditors or accounts
• Vocabulary – Financial statements
1. turnover 2. overheads 3. depreciation 4. freehold properties
5. historical cost 6. debtors 7. cash in hand at bank 8. corporation
tax. 9. net assets 10. called – up share capital.
• Reading
A The period of gold convertibility.
B Floating exchanges rates.
C The abolition of exchange controls.
D Intervention and managed floating exchange rates.
E The power of speculators and the collapse of the EMS.
F Why many business people would prefer a single currency.

G The introduction of the single European currency.
• Comprehension
1 False
2 False
3 True
4 False
5 True
6 True
7 True
8 False
• Vocabulary
1 adjust
2 convert
3 abolish
4 suspend
5 fluctuate
6 diverge
Module 12
• Vocabulary
1 overdraft
2 credit card
3 cash dispenser or ATM
4 loan 5 standing order or direct debit 6 mortgage
7 cash card
8 home banking
9 current or checking account 10 deposit or
time or notice account
• Reading
1 Commercial banking
2 Investment banking
3 Universal banking
4 Interest rates
5 Eurocurrencies
• Vocabulary
1 deposit
2 foreign currencies
3 yield 4 liquidity
5 maturity
6 underwrite 7 takeover
8 merger
9 stockbroking 10 portfolio management
11 deregulation
12 conglomerate
13 blue chip
14 solvency
15 collateral
2.Common collocation include: charge interest; do business; exchange
currencies; issue bonds; make loans; make profits; offer advice; offer
loans; pay interest; raise funds; receive deposits; underwrite security
• Vocabulary
10 B
• Reading
A The functions of taxation.
B Advantages and disadvantages of different tax systems.
C Tax evasion.
D Avoiding tax on salaries.

E Avoiding tax on profits.
• Comprehension
6 False
• Vocabulary
1 depreciation 2 disincentive 3 regressive
4 consumption
5 self-employed
6 national insurance
7 perks
8 tax shelters 9 tax-deductible
10 tax havens
Module 13
• Vocabulary
1 liability
2 creditor
3 bankrupt
4 assets
5 to liquidate 6 liabilities
7 to put up capital
8 venture capital
9 founders
10 premises
11 underwrite 12 dividend
• Vocabulary
1 mutual fund 2 portfolio
3 stockbroker 4 blue chip
5 defensive stock
6 growth stock
7 market-maker
8 institutional investors
9 inside share-dealing
• Vocabulary
10 G
• Vocabulary
• Vocabulary
• Summarizing
1 The difference between futures and forward contracts is that futures
are standardized deals and forwards are individual ‘over-the-counter’
agreements between two parties.
2 Producers and buyers often choose to hedge because this allows
them to guarantee prices for several months.


3 Speculators can make money on currency futures if they correctly
anticipate exchange rate appreciations or depreciations or interest rate
4 If you believe that a share price will rise, possible option strategies
include buying a call, which you will be able to sell at a profit, and
writing (selling) a put, which will never be exercised, so you earn the
5 On the contrary, if you think a share price will fall, possible option
strategies include buying a put, so you will be able to sell your shares
at above the market price, and writing a call, which will never be
exercised, so you earn the premium.
6 The risk with currency and interest rate swaps is that the exchange
and interest rates may change unfavourably.
• Vocabulary
Appreciate – depreciate
Call – put
Discount – premium
Drought – flood
Floating – fixed
Hedging – speculation
Spot market – futures market
Strike price – market price
The word ‘premium’ is used twice with two different meanings in the
text. ‘At a premium’ means above the nominal or market price;
premium also means the price of an option contract.



(Permisiune, probabilitate, abilitate)
May şi can sunt verbe modale sau ajutătoare: ele sunt verbe defective,
- au numai 3 timpuri: indicativ prezent, indicativ trecut şi
condiŃional prezent
- nu primesc s la persoana a III-a singular
- nu primesc do, does, did la interogativ sau negativ


sunt urmate de infinitivul fără TO

Timpurile care lipsesc sunt înlocuite cu:
- to be able to – (abilitatea)
- to be allowed to
- to be permitted to – (permisiunea)
- to be likely to – (probabilitatea)

May / Might
May se folosesşte la prezent. Might la condiŃional prezent. Ambele
sunt invariabile şi sunt urmate de un infinitiv fără To.
Forme contrase: mayn’t / mightn’t
1. May se foloseşte cu referire la evenimente sau acŃiuni posibile
sau probabile în prezent, adesea cu sens de viitor. Might poate
fi folosit pentru a sublinia o foarte redusă posibilitate.
There’s a black cloud above us. It may rain.
Alice may get angry if you tell her.
If you try hard enough, you might convince him to come.
• Notă
Formele alternative sunt:
Maybe it will rain.
It is likely to rain.
2. pentru a cere, a oferi sau a refuza permisiunea politicos
May I open the window? It’s very hot in this office.
You may not smoke in my car.
Might indică adesea teama vorbitorului de a nu primi un
răspuns negativ, sau faptul că el cere prea mult:
Might I borrow your Rolls Royce for the weekend?


• Notă
Forme alternative:
Am I allowed to open the window?
You are not permitted to smoke in my car.

3. cu well pentru a indica o foarte mare probabilitate
I think it may well rain today, look at those black clouds.
Put some money in the box, it might well be for a good cause.
• Notă
Forme alternative:
I think it is very likely to rain today.
• Notă
May / might as well are alt sens:
There is nothing interesting on TV this evening, I may / might as well
have an early night.
4. cu o construcŃie perfectă pentru a face referire la o
presupunere în trecut
Bill isn’t in his office, he may have gone home early. (It’s possible
that he went home.)
5. cu o construcŃie perfectă pentru a face referire la ceva care sar fi putut petrece în trecut dar nu s-a petrecut, se poate folosi
numai might
You might have burnt your hand while taking that hot tray out of
the oven (but you didn’t).

Can / Could
Can se foloseşte la prezent, adesea cu sens de viitor. Could se
foloseşte la trecut şi condiŃional prezent. Ambele sunt invariabile şi
sunt urmate de infinitiv fără To.

Forme contrase: can’t / couldn’t

1. Can se foloseşte pentru a cere, a acorda sau a refuza
permisiunea, similar cu may, dar mai puŃin formal
You can drive at seventeen in the UK.
Can I borrow your pen, please? I’ve left mine at home.
You cannot go hunting out of season.
• Notă
Forme alternative:
You are permitted to drive at seventeen in UK.
You are allowed to drive at seventeen in UK.
You may drive at seventeen in UK.
• Notă
La negativ, could şi might au sensuri diferite.
Ken could not be building the house by himself. (It’s impossible. It is
too much work.)
Ken might not be building the house by himself. (He isn’t building the
house himself. He probably has help.)
2. pentru a face referire la probabilitate, posibilitate sau
imposibilitate în prezent, în trecut sau la condiŃional
Look, there’s plenty of snow, we can go skiing today.
Let’s try his office; he could be there.

3. pentru a face referire la abilitate sau îndemânare în prezent,
în trecut sau la condiŃional
Can you lay bricks?
My old car cannot go over 80 km an hour.
The girl can sing but she can’t dance for the life of her.
Could you drink as much?


• Notă
Pentru alte timpuri se foloseşte to be able to
She will be able to type 100 words a minute soon.
4. folosiŃi could + infinitiv perfect pentru a vă referi la o acŃiune
care nu a avut loc
I could have driven you to the airport, but I didn’t have my car.
Sau când nu ştim dacă acŃiunea s-a petrecut sau nu
Have you seen my umbrella? Dan could have taken it; it was
raining when he left.
• Notă
Forme alternative:
You might have hurt your back lifting that heavy table.
You would probably have hurt your back lifting that heavy table.
• Notă
May / might şi can / could se repetă în întrebări disjunctive şi
răspunsuri scurte.
He can’t go, can he?
May Sally come in? Yes, she may.
• Notă
To be able to exprimă abilitatea. Este o alternativă formală pentru can
/ could în prezent, în trecut sau la condiŃional. Pentru toate celelalte
timpuri putem folosi numai to be able to.

TraduceŃi în limba engleză următoarele propoziŃii
1. Aceasta este o masă veche, pe care n-o poate ridica nimeni. 2. Nu
ştia să înoate, aşa că atunci când s-a scufundat vasul, s-a inecat. 3. Nu
ai dreptul să înaintezi, acest teren e proprietate privată. 4. Nu ai
dreptul să vinzi ce nu-ti aparŃine. 5. Nu se poate să te fi hotărât să-i
refuzi orice ajutor tocmai când are mai mare nevoie de el. 6. Idila lui
cu ea nu poate să fi durat mai mult de o lună. 7. E cu putinŃă să se

joace când i-am spus să-şi facă mai întâi temele? 8. Ai să-i poŃi face pe
plac, ştiind că e aşa de sensibil? 9. Niciodată n-am fost în stare să Ńin
minte propoziŃii întregi. 10. Savantul a spus că ştie de mult să numere.
11. Zise că-mi poate da sifon dacă mi-e sete. 12. Speram să pot merge
pe jos până la gară, dar m-am oprit la o staŃie de autobuz. 13. L-ai
putea aştepta în birou dacă ai vrea. 14. Ar fi putut să se aşeze pe un
scaun gol, dar a preferat să stea în picioare. 15. Puteai să te uiŃi pe
gaura cheii, dacă erai aşa de curios.

1. Pot să te ajut cu ceva? 2. Îmi permiŃi să te ajut? 3. Poate că se
plimbă prin grădină, habar n-am unde e. 4. Poate că spune adevărul,
mai bine ai asculta ce are de spus. 5. Poate că-mi voi fi terminat
lucrarea până vii tu să mă ajuŃi. 6. Poate că bătrâna sufla greu după ce
a urcat scările acelea, fiindcă liftul era defect. 7. Poate că voi fi ajuns
la gară până va pleca trenul. 8. M-am gândit că s-ar putea să plouă, aşa
că mi-am luat umbrela. 9. I-am spus că n-are nimeni voie să intre-n
camera mea când dorm. 10. S-ar putea să tuşească dacă a răcit. 11. Lai putea ajuta să-şi ducă geanta, dacă-l vezi gâfâind. 12. Puteai să-i
împrumuŃi nişte bani, dacă ştiai că are greutăŃi.

Cheia exerciŃiilor:
1. This is an old table which no one can lift. 2. He could not swim, so
when the ship sank he drowned. 3. You can’t proceed, this land is
private property. 4. You can’t sell what does not belong to you. 5. You
can’t have resolved to deny him all help when he most needs it. 6. His
romance with her can’t have lasted more than a month. 7. Can he be
playing when I told him to do his homework first? 8. Will you be able
to please him, knowing he is so sensitive? 9. I have never been able to
remember long sentences. 10. The scholar said he had been able to
count for a very long time. 11. He said he could give me soda if I was
thirsty. 12. I hoped I could walk to the station but I stopped at a bus
stop. 13. You could wait for him in the study if you would. 14. He
could have taken a vacant seat, but he preferred standing. 15. You
could have peeped through the keyhole if you were so curious.


1.Can I help you? 2. May I help you? 3. She may be walking in the
garden, I have no idea where she is. 4. She may be telling the truth,
you had better listen to what she has to say. 5. I may have finished my
paper by the time you come to help me. 6. The old lady may have
been breathing hard after she had climed all those stairs, because the
elevator was out of order. 7. I may reached the station before the train
leaves. 8. I thought it might rain, so I have taken my umbrella. 9. I told
him no one might enter my room when I was asleep. 10. He might
cough if he has caught cold. 11. You might help him carry his bag if
you see him gasping for breath. 12. You might have lent him some
money if you knew he was in need.



(ObligaŃie şi necesitate)
Must, need, should şi ought to sunt verbe modale; ele sunt defective,
- timpuri lipsă
- persoana a III-a singular fără s
- interogativul şi negativul prezentului fără do sau does
- sunt urmate de infinitiv fără To
• Notă
Toate timpurile care lipsesc sunt înlocuite cu verbe normale:
To have to sau to need to
• Notă
To have to exprimă atât obligaŃia cât şi necesitatea la timpurile la care
el reprezintă singura posibilitate (infinitiv, trecut simplu, perfect
prezent, viitor, forma în –ing etc.).


Dar la prezent, formele alternative nu sunt întotdeauna înlocuibile
reciproc. O formă poate exprima obligaŃia, iar cealaltă necesitatea.
John must not shout. (= John are obligaŃia de a nu striga.)
John doesn’t have to shout. (= Nu e necesar ca John să strige.)
To need to exprimă întotdeauna necesitatea.
Harry didn’t need to go on a diet. (= Nu era necesar ca Harry să Ńină

Must / Have to / Need to
Must este invariabil pentru toate persoanele, în timp ce have to şi
need to urmează regulile verbelor normale.
Forme contrase: mustn’t
1. Have to se foloseşte întotdeauna pentru a face referire la
obligaŃie sau necesitate la prezent afirmativ şi interogativ,
adesea cu sens de viitor. Must se referă la obligaŃie.
I must phone my husband before he leaves the office.
The builders have to finish the work before winter sets in.
• Notă
Must se foloseşte de obicei când obligaŃia vine din partea vorbitorului
care-şi exprimă propriile sentimente.
Have to se foloseşte când obligaŃia vine din partea unei a treia
You must tidy up your room before you go out. (= ÎŃi ordon)
You have to drive on the left in Great Britain. (= Aşa spune legea)
2. La forma negativă must şi have to au sensuri complet diferite:
Must not înseamnă că eşti obligat să nu faci ceva.
Don’t have to sau haven’t got to înseamnă că nu este necesar:
You mustn’t exceed the speed limit on the motorway. (= Eşti
obligat de lege.)

You haven’t got to go to that meeting if you are too busy. (= Nu e
necesar să te duci.)
• Notă
În general have to şi have got to se folosesc la fel numai la prezent.
Have got to este considerat mai formal.
Have to se foloseşte pentru acŃiuni repetate, de obicei întărit cu un
adverb de frecvenŃă.
Chris has to visit her ill mother every day.
Chirs has got to do some shopping for her ill mother today.
3. Have to poate fi folosit la toate celelalte timpuri.
I have never had to work so much before.
The police would have had to open fire if the criminals hadn’t
• Notă
DeducŃia negativă se poate exprima cu can’t sau can’t have:
It’s only eleven o’clock, Tim can’t be hungry!
The Smiths are in China. They can’t have sent that post-card from
4. Must se foloseşte pentru deducŃii pozitive în prezent.
Must + construcŃie perfectă se referă la deducŃii pozitive în
The baby is crying. She must be hungry.
There was no reply; he must have been working in the garden.

Utilizare: Need este considerat atât verb propriu-zis cât şi auxiliar.
1. Need to, ca verb propriu-zis, urmează formele verbelor
regulate normale şi este folosit pentru a se face referire la
You will need flour and water to make bread.
I don’t need to see the doctor. I feel fine.


• Notă
Have to exprimă necesitatea, poate fi folosit şi la negativ şi
We didn’t have to book the restaurant. There was plenty of room.
Do we have to rush?
2. Need ca auxiliar este un verb modal şi are aceeaşi formă
pentru toate persoanele. Poate fi folosit numai la prezent
(adesea cu sens de viitor) mai ales în construcŃii negative sau
ConstrucŃie negativă: Need not este similar cu don’t have to.
Ambele exprimă absenŃa unei obligaŃii sau necesităŃi.
We need not rush. There’s plenty of time.
ConstrucŃie interogativă:
Need we rush? There’s plenty of time.
3. Need not + infinitiv perfect se referă la o acŃiune trecută care sa petrecut fără a fi fost necesară.
You needn’t have told her about the accident. She will only worry.
• Notă
Need not + infinitiv perfect diferă de did not need to.
Jack need not have gone to the dentist. (= Jack s-a dus, dar nu era
Jack did not need to go to the dentist. (= Nu era necesar ca Jack să se
ducă, dar nu ştim dacă s-a dus sau nu.)

Ought to / Should
Ought to şi Should au sens identic şi pot fi folosite la fel. Ele sunt
invariabile pentu toate persoanele şi pot fi urmate de infinitiv fără To.
Forme contrase: oughtn’t / shouldn’t


1. Cu referire la o obligaŃie sau îndatorire.
I ought to mow the lawn this weekend; it’s overgrown.
Little girls shouldn’t tell lies.
Poate urma şi forma în –ing.
Tim oughtn’t to be watching TV. He ought to be doing his
We should be standing in that queue, not this one.
2. Pentru a cere şi a da sfaturi.
Do you think I should have my hair cut short?
Mike ought to see a doctor if it hurts so much.
3. Cu referire la ceea ce consideră că este corect sau incorect din
punct de vedere moral.
We should all help the poor.
People oughtn’t to treat animals badly. They belong here, too.
4. Cu referire la o întâmplare probabilă.
I’ll prepare dinner tonight. I should be home quite early.
I told him several times, so he ought to remember.
5. Cu o construcŃie perfectă pentru a face referire la ceva ce
urma să se petreacă în trecut, dar nu s-a petrecut. Sau cu
referire la ceva ce a constituit o greşeală.
The plane should have arrived at seven o’clock, but it was
delayed because of fog.
Michael Jackson ought to have started his tour last night, but he
was taken ill.

1. A replicat că trebuie să aibă grijă de silueta ei. 2. Nu ştiam că
trebuie să plătesc amendă dacă-mi parchez maşina aici. 3. Nu se poate
să nu stai la masă! 4. Neapărat să-mi arăŃi rochia ta cea nouă! 5. E
precis la birou, completând formulare, cum face zilnic. 6. Nu-l văd pe
aici, trebuie că joacă baschet pe undeva. 7. Nu e acasă, precis colindă

străzile şi târguieşte cu hărnicie. 8. Se vede că cicatricea a fost o rană
gravă mai de mult. 9. Se vede că studia la bibliotecă atunci când îl
căutai. 10. Copiii nu trebuie să vorbească cu primarul când e ocupat.
11. A trebuit să ascult de două ore vorbele lui supărătoare, dar n-am
de gând să mai tolerez acest lucru. 12. FuncŃionarul declară că a
trebuit să vorbească cu nevasta lui despre schimbarea slujbei, fiindcă
întârziase de prea multe ori. 13. E nevoie să vină azi la bibliotecă, ori
poate aştepta până mâine? 14. Nu era nevoie să vină aşa de curând,
puteam aştepta. 15. Nu era nevoie să cumpere ea pălăria, avea el de
gând să i-o cumpere.
1. Lectorul medită unde să-şi Ńină următoarea prelegere. 2. Pianistului
i-ar fi plăcut să i se spună ce să cânte. 3. CântăreaŃa de operă nu ştia a
cui ofertă s-o accepte. 4. Fotograful vru să ştie dacă să facă una sau
două fotografii. 5. De ce l-ai ajuta, dacă nu te roagă? 6. Dacă s-ar
întâmpla să se întâlnească într-o cafenea, i-ar vedea toŃi împreună şi
oamenii ar începe să bârfească. 7. Ar trebui să îi spun că era exact ce
merita. 8. Ar fi trebuit să se logodească de mult, dar părinŃii ei s-au
opus căsătoriei. 9. Ar fi trebuit să-i mărturiseşti în cele din urmă că iai furat ceasul, fiindcă nu vroiai să plece atât de iute. 10. StudenŃii ar fi
trebuit să asculte expunerea aseară.

Cheia exerciŃiilor:
1. She retorted she must take care of her figure. 2. I did not know I
must pay a fine if I parked my car her. 3. But you must stay for
dinner! 4. You must show me your new dress! 5. He must be at his
office, fiiling in forms, as he does daily. 6. I do not see him around, he
must be playing basketball somewhere. 7. He is not at home, he must
be roaming the streets and shopping with industry. 8. That scar must
have been a bad injury a while ago. 9. He must have been studying at
the library when you were looking for him. 10. Children must not talk
to the mayor when he is busy. 11. I have had to listen to his offensive
words for two hours, but I am not going to put up with it any longer.
12. The officer stated that he had had to talk to his wife about
changing his job because he had been late too many times. 13. Need
he come to the library today or can he wait untill tomorrow? 14. They
needn’t have come so soon, I could have wited. 15. She needn’t have
bought that hat, he was going to buy it for her.

1. The lecturer meditated where he should deliver his next lecture. 2.
The pianist would have liked to be told what he should play. 3. The
opera singer did not know whose offer she should accept. 4. The
cameraman wanted to know if he should take one or two photographs.
5. Why should you assist him if he does not ask you? 6. If they should
meet in a café, everyone would see them together and people would
start gossiping. 7. I ought to tell him it was exactly what he deserved.
8. They ought to have been engaged long ago, but her parents objected
to their marriage. 9. You ought to have confessed to him eventually
that you had stollen his watch because you did not want him to leave
so soon. 10. The students ought to have been listening to the
exposition last night.



• Formă
Formele principale de infinitiv sunt:
Infinitiv prezent
to work
Infinitiv prezent continuu
to be working
Infinitiv perfect
to have worked
Infinitiv perfect continuu
to have been working
Infinitiv pasiv
to be worked

Utilizare: Infinitivul cu TO

Infinitivul cu to se poate folosi ca:
1. Subiect
To leave the front door unlocked is risky.
Dar este mai folosită propoziŃia care începe cu it:
It is risky to leave the front door unlocked.
2. complement
principalele verbe urmate de infinitiv cu to:

agree, appear, arrange, ask, attempt, be about, care choose, consent,
decide, do one’s best, decline, demand, expect, fail, forget, happen,
hate, hope, hurry, learn, like, love, manage, mean/intend, neglect,
offer, plan, prefer, prepare, pretend, promise, prove, refuse,
remember, seem, tend, try, turn out, volunteer, want, be able to afford,
make up one’s mind
The couple appears to be happy.
I can’t afford to study abroad.
She refused to go with him.
• Notă
Unele verbe – like, love, hate, prefer, care, mean, intend – pot fi
urmate de infinitivul cu to şi de forma în –ing.
She likes to skate.
She likes skating.
Ori condiŃionalul
I’d love to see Eve.
Would you prefer to do it now?
• That… should (be) este o construcŃie care poate urma şi după
agree, arrange, ask, decide, demand.
The girls agreed to organize a party.
The girls agreed that they should organize a party.
The girls agreed that a party should be organized.
• Infinitivul continuu urmează adesea după appear, happen,
pretend, seem.
It seems to be raining.
The children pretended to be hiding.
3. pentru a exprima scopul:
The dog buried the bone to hide it.
In order şi so as pot fi folosite pentru a sublinia scopul:
Matt is memorizing the rules in order to pass the test.
We cut the hedge so as to improve the view.
Pentru a exprima scopul sau funcŃia unui obiect, folosiŃi
infinitivul cu TO sau for + -ing
He used the scissors to cut the rope.
He used the scissors for cutting the rope.


• Notă
Când două subiecte diferite fac necesară folosirea unei subordonate,
folosiŃi so that pentru a introduce subordonata şi a exprima scopul.
I deposited the money in the bank so that my son can use it in later
• Notă
Pentru a exprima negaŃia puneŃi not înaintea infinitivului cu TO.
He ran in order not to be late.
• Notă
FolosiŃi and (în loc de TO) pentru a exprima scopul după go sau
We should go and buy some milk.
Come and visit us!
4. după un verb urmat de how, what, when, where, why.
Principalele verbe sunt: ask, decide, discover, find out, forget,
know, see, learn, remember, understand, think, wonder
We wondered how to do it.
I couldn’t decide what to wear.
• Notă
Whether + infinitiv cu to poate fi folosit:
După wonder şi know.
Alex wondered whether to knock or wait outside.
După formele interogative şi negative ale verbelor decide, know,
Did you finally decide whether to go camping or not?
5. după un verb urmat de complement
verbele principale sunt: advise, allow, command, enable,
encourage, forbid, expect, force, invite, oblige, order, permit,
persuade, remind, request, teach, tell, like, help, want
Tony advised me to finish the job quickly.
We invited our friends to ski with us.
• Notă
Infinitivul cu to poate înlocui o propoziŃie relativă:
După the only, the last, the first, the second etc.

Joe was the first to board the submarine. (= Joe a fost primul care s-a
îmbarcat pe submarin.)
După substantive / pronume, pentru a arăta care le este utilizarea.
I need a pot to make a tea. (= Am nevoie de un ibric în care să pot face
• Notă
Remind, teach şi tell pot fi şi ele urmate de that:
He reminded Sue to come on time.
He reminded Sue that she had to /should come on time.
Dar tell îşi schimbă sensul în funcŃie de construcŃie:
Tod told her to stop. = Tod ordered her to stop.
Tod told her that the water was boiling. = Tod informed her that the
water was boiling.
6. după pasivul verbelor assume, believe, consider, feel, know,
understand, suppose
They are assumed to be fair players.
Aceste verbe pot fi urmate de complement + infinitiv cu TO şi
de that:
He assumes them to be fair players.
He assumes that they are fair players.
• Notă
Suppose işi poate schimba sensul la pasiv:
You are supposed to… înseamnă Este datoria ta să…
7. după anumite substantive
principalele verbe sunt: ability/inability, ambition, decision,
demand, desire, determination, effort, failure, offer, plan, promise,
refusal, wish
We made our wish to help them quite obvious.
Hillary’s failure to pass the exam disappointed them.


8. după anumite adjective
principalele adjective sunt: cruel, good, rude, anxious, glad, kind,
nice, pleased, surprised, easy, difficult, likely, prepared, ready,
late, early
She was pleased to hear from us.
You are likely to meet them.
• Notă
În construcŃiile cu it, of + pronume/substantiv, urmează adesea după
It was nice of you to come.
It was rude of the man to slam the door.
9. după too + adjectiv/adverb şi după adjectiv/adverb + enough şi
după have + enough + substantiv
The soup was too hot to eat.
The water wasn’t warm enough to swim in.
We didn’t have enough time to finish the test.
• Notă
For + substantiv/pronume pot fi introduse în faŃa infinitivului:
He ran too fast for us to follow.

Infinitivul fără TO
Infinitivul fără TO poate fi folosit după:
1. verbe modale
may, can, must, shall, should, will, would
We may come tomorrow.
2. feel, see, hear, watch, let la forma activă
Claire heard him cough.
• Notă
Forma în – ing se foloseşte adesea după feel, see, hear, watch (atât
forme active cât şi pasive)
Claire heard him coughing. / He was heard coughing.


3. had better şi would rather
Dan had better study harder.
4. make
The teacher made Ellen correct her errors.
• Notă
La forma pasivă make este urmat de infinitiv cu TO:
Ellen was made to correct her errors (by the teacher).
5. but sau except
Jack and Karen do nothing but argue.
I’ve done it all except do the calculations.
6. why sau why not
Why waste your energy on such a hopeless cause?
Why not go and ask him now?
7. folosiŃi infinitivul perfect fără to:
Cu must pentru a exprima deducŃii pozitive în trecut:
There’s Al’s cap. He must have come home.
Cu can’t/couldn’t pentru a exprima deducŃii negative în trecut:
I can hear noise. They can’t have gone to bed yet.
1. A fost văzut cum fură batista unei bătrâne. 2. Se ştie că a îmblânzit
o căprioară. 3. Se pare că i s-a terminat zahărul. 4. S-a dovedit că hoŃul
a spus adevărul. 5. N-aş vrea să fi plecat singur de acasă. 6. Îşi ordon
să pleci chiar acum. 7. Cred că s-a măritat de mult. 8. Aştept să pleci.
9. Se zice că s-a întors din străinătate. 10. I s-a ordonat să uite tot ce a
văzut. 11. Din întâmplare încă n-a sosit. 12. Cu cine se zice că
seamănă? 13. De ce se zice că e hoŃ?
Cheia exerciŃiilor:
1. He was seen to steal an old lady’s handkerchief. 2. She is known to
have tamed a deer. 3. He seems to have run out of sugar. 4. The thief
turned out to have told the truth. 5. I should not like him to have left

alone. 6. I order you to leave right now. 7. I think her to have got
married long ago. 8. I am waiting for you to leave. 9. He is said to
have returned from abroad. 10. He was ordered to forget everything he
had seen. 11. He happens not to have arrived yet. 12. Whom is she
said to look like? 13. Why is he said to be a thief?


FORMELE ÎN – ING (Participiul şi Gerund-ul)

Din punct de vedere gramatical, forma în –ing poate fi sau un gerund
sau un participiu. În ambele cazuri, forma este aceeaşi.
Formă: forma în –ing regulată se obŃine adăugând –ing infinitivului
fără TO. (go – going)
Gerund-ul poate fi folosit ca:
1. subiect
Smoking is dangerous for your health.
2. complement
Emily loves teaching.
3. interdicŃii scurte
No fishing.
4. după prepoziŃii
Verbele care urmează după prepoziŃii trebuie să fie la forma în –
Francis is interested in learning Polish.
I am sorry for hurting your feelings.
Verbele care urmează după verbele complexe cu prepoziŃie sunt
de obicei la forma în -ing
My father has just given up smoking.
I am looking forward to seeing you soon.
unele verbe complexe cu prepoziŃie pot fi urmate de infinitiv
The researcher set out to prove his theory.

• Notă
Cuvântul TO este o sursă de confuzii. Uneori to este o prepoziŃie
urmată de –ing. Alteori to intoduce un infinitiv complet.
Kevin looked forward to seeing her.
Kevin wanted to see her.
I am used to studying until late. = I am accustomed to studying late.
I used to study until late. = I always studied until late.

5. după anumite verbe şi expresii
Principalele verbe şi expresii sunt: admit, avoid, delay, detest, enjoy,
finish, imagine, mind, miss, postpone, practise, remember, resist, stop,
can’t stand, can’t help, be worth, be busy, be no good, be no use,
deny, keep, risk
Did you mind selling your house?
I missed listening to her play the piano.
We stopped studying in the summer.
• Notă
NotaŃi diferenŃa dintre:
He remembered writing to us. = Îşi amintea că ne-a scris.
They remembered to write to us. = Nu au uitat să ne scrie.
He stopped eating. = El a terminat de mâncat.
He stopped to eat. = S-a oprit din alte treburi ca să mănânce.
• Notă
Admit, deny, remember primesc şi pe that:
They remembered that they had sent us the bill.
• Notă
Hate, like, love, prefer pot primi infinitiv + to.
I love dancing. = I love to dance.
Dar la condiŃional ele primesc de obicei infinitiv cu to:
I’d love to dance.
6. după anumite verbe + adjectiv posesiv/ complement
Principalele verbe sunt: dislike, dread, mind, remember, resent, stop,
understand, object to, appreciate, excuse, forgive, prevent,
(dis)approve of

I don’t mind his/him staying with us.
I truly appreciate their/them being so hospitable.
Utilizarea adjectivului posesiv este mai formală:
The committee resented his being so frank.
Utilizarea complementului pronominal este mai răspândită în engleza
I certainly understand him getting upset.
• Notă
Iată câteva modificări ortografice:
1. Dispare –e final.
Dar nu pentru:
2. Finala în –ie se schimbă în –y.
3. Se dublează consoana finală.
Dar nu şi pentru:

Participiul poate fi folosit:
1. la timpurile continue.
He is working.
You were singing.

2. ca adjective.
annoying, frightening, depressing, embarrassing, relaxing,
exciting, shocking, charming, interesting, boring
3. în substantive compuse.
a washing machine, a diving board, a sewing kit, a walking stick,
a fishing rod, a gardening tool
4. după spend şi waste (timp, bani, effort, energie).
They spent a fortune building that house.
He wasted all his energy getting that contract.
5. după go şi come (activitate fizică).
I’m coming shopping with you.
Eileen and Paul are going swimming.
6. după see, hear, feel, listen to , notice, watch + complement.
The entire family watched Tim skating.
• Notă
Aceleaşi verbe pot fi urmate şi de complement + infinitiv fără TO.
He heard the baby cry.
7. după catch, find, leave + complement.
The baker caught the boy stealing rolls.
8. în locul subordonatelor:
A. în locul unei subordonate relative
We watched the boy working. (= We watched the boy who was
B. în locul subordonatelor.
când două acŃiuni se petrec la acelaşi moment în timp.
Smiling warmly, she shook Hector’s hand. (= She smiled warmly as
she shook Hector’s hand.)
Learning to ski, Sam broke his leg. (= While Sam was learning to ski,
he broke his leg.)
pentru a înlocui o propoziŃie care începe cu since sau because.
Thinking Joan was honest, he lent her the money. (= Because he
thought Joan was honest, he lent her the money.)
Being curious, he looked through the keyhole. (= Since he was
curious, he looked through the keyhole.)

când acŃiunea unei subordonate se petrece în mod clar înainte de
acŃiunea celeilalte subordonate se foloseşte participiul perfect.
Having got divorced once, Al decided not to marry again. (= After he
had got divorced once, Al decided not to marry again.)



Formă: Verbele care urmează altor verbe au una din formele:
infinitiv + to sau forma în –ing.
Verbele se împart în patru categorii principale:
1. Verbe care pot fi urmate numai de infinitiv + TO.
We agreed to meet at noon.
2. Verbe care pot fi urmate numai de forma în –ing.
You risk being late.
3. Verbe care pot fi urmate fie de un infinitiv + TO fie de forma
în –ing fără a înregistra o modificare de sens.
I see Harry has started to play golf again. (= în general)
I see Harry has started playing golf again. (= în general sau numai
în momentul de faŃă)
4. verbe care pot fi urmate de infinitiv + to fie de forma în –ing
dar cu o schimbare majoră de sens.
I forgot to go to the bank yesterday. (= Nu m-am dus)
I have forgotten going to the bank yesterday. (= Nu-mi amintesc
să fi fost)

1. Infinitivul + to se foloseşte de obicei după: afford, agree, appear,
arrange, ask, attempt, decide, expect, fail, help, hope, learn,
manage, mean, offer, plan, prepare, pretend, promise, refuse,
seem, tend, threaten, want, wish
I can’t afford to buy a new car now.
I fail to see the point you are making.

• Notă
Forma negativă este not to + infinitiv.
Clive Waston decided not to accept the new job offer.
• Notă
După help, TO este opŃional.
Emma’s mother always helps her (to) do her homework.
Dar can’t help înseamnă “a nu putea evita” şi aici se foloseşte forma
în –ing.
I can’t help thinking about what she said last night.
Seem, appear şi pretend pot primi şi un infinitiv continuu (to be
doing) sau un infinitiv perfect (to have done).
Bill seems to be sleeping a lot lately.
The criminal pretended to have lost his memory.
După ask, decide, explain, know, remember, forget, understand
urmate de cuvinte interogative: how, what, when, which, where,
whether etc.
I don’t know how to get to the cathedral from here.
The teacher will explain what to do tomorrow.
După ask, enable, force, get, invite, order, persuade, remind, teach,
tell, warn + complement.
Can you ask them to leave, please?
I persuaded Jane to come hiking with me tomorrow.
După make în propoziŃii pasive.
When I was at school, I was made to wear a uniform.

2. Forma în –ing este de obicei folosită după: admit, avoid,
consider, delay, deny, dislike, enjoy, fancy, feel like, finish, give
up, imagine, involve, keep on, mind, miss, postpone, practise, risk,
stand (=bear), suggest, mention, recall, regret
He admitted stealing the jewels.
Have you considered moving abroad?


• Notă
Forma negativă este: not + -ing
I enjoy not having to work.
• Notă
Forma pasivă este posibilă şi cu being + participiu trecut.
Helen enjoys being involved in the local comunity.
Verbe ca: admit, deny, mention, recall, regret pot primi: having +
participiu trecut cu referire la acŃiuni finalizate în trecut.
Tom now regrets having moved to Paris.
• Notă
După: admit, deny, regret, suggest se poate folosi şi that.
Sam denied that he had shot his wife.
Sam denied shooting his wife.
După verbe complexe: carry on, end up, give up, go round, keep on,
put off, set about
You carry on thinking while I eat my lunch.
Frank is always trying hard to give up smoking.
3. Se pot folosi atât infinitivul + TO cât şi forma în –ing fără
diferenŃe de sens după verbele: begin, continue, hate, like, love,
prefer, start
I began to play squash three years ago.
I began playing squash three years ago.
Morris loves to drive fast cars.
Morris loves driving fast cars.
4. Infinitivul + to sau forma în –ing au sensuri foarte diferite după:
remember, forget, try, stop, go on, regret
Have you forgotten posting that letter? (= Ai trimis-o dar nu-Ńi
Have you forgotten to post that letter? (= Nu ai trimis-o?)
I stopped smoking cigarettes because they were bad for me. (= Nu
mai fumez)
I stopped to smoke a cigarette. (= M-am oprit şi am fumat o Ńigară)

PuneŃi verbele din paranteză fie la infinitiv fie la gerund:
1. He used (dance) a lot but he hasn’t had any opportunity of (do) is
since he began (prepare) for the entrance examination. 2. They were
used to (live) alone, so they didn’t really mind the lonely life they led
on the moon. 3. I like (skate) and (ski), but it is very difficult for me
(say) which I like better. 4. We got tired of (wait) for him (come) and
eventually decided (go) out without (leave) any notice to him. 5. I
remember (hear) her (say) the flowers needed (water). 6. We highly
appreciate (you, want) (help) our son, but it’s time he began (do) his
homwork by himself. 7. We don’t remember (you, say) before that
John wanted (buy) our car. 8. I wonder why he hated (I, smoke) at the
office since he often enjoys (smoke) a cigarette himself. 9. It is no use
(you, ask) me (insist) on (Mike, come) in time as he can’t get rid of
his bad habit; he often tried (be) punctual but he always failed. 10.
Wherever I set to work, I recollect (my father, say) that if a job is
worth (do) at all it is worth (do) well.

TraduceŃi în limba engleză următoarele propoziŃii folosind
1. Vara florile au nevoie de apă (de a fi udate) în fiecare zi. 2. Îmi face
multă plăcere să-i accept invitaŃia deoarece ea întotdeauna reuşeşte să
gătească mâncăruri foarte gustoase. 3. IertaŃi-mă că vă deranjez, aveŃi
cumva un chibrit? 4. Îmi place să mănânc îngheŃată chiar când e frig.
5. Vă deranjează dacă deschid fereastra pentru câteva minute? E un
aer foarte inchis aici. 6. N-are nici un rost să pleci miercuri, se
aşteaptă ca tu să fii acolo sâmbătă. 7. Au insistat să le scriu în fiecare
zi, dar asta mă exasperează deoarece mie nu-mi place să scriu scrisori.
8. Ei au refuzat să ne permită să intrăm fără a cumpăra bilete, deşi
fusesem invitaŃi la premieră. 9. A trebuit să ne amânăm plecarea
pentru că Jane era bolnavă. 10. Nu-mi place ca cineva să se uite la
mine când încerc să învăŃ a merge pe bicicletă.

Cheia exerciŃiilor:
1. To dance, doing, to prepare 2. Living 3. Skating, skiing, to say 4.
Waiting, to come, to go, leaving 5. Hearing, say (saying), watering 6.
Your / you wanting, to help, doing 7. Your / you having said, to buy 8.
My / me smoking, smoking 9. Your / you asking, to insist, Mike’s /
Mike coming, to be 10. My father saying, doing, doing
1. In summer flowers need watering every day. 2. I am very pleased to
accept her invitation as he always succeeds in cooking very tasty
dishes. 3. Forgive my bothering you, do you happen to have a match?
4. I enjoy eating ice-cream even when it is cold. 5. Do you mind my
opening the window for a few minutes? It’s very stuffy in here. 6.
There is no need for your leaving on Wednesday, you are expected
there (on) Saturday. 7. They insisted on my writing to them every day,
but it puts me beside myself because I hate writing letters. 8. They
refused to let us in without buying tickets although we had been
invited to the first night. 9. We had to delay our departure because of
Jane’s being ill. 10. I dislike being looked at while attempting to learn
how to ride a bicycle.



Un verb complex este o combinaŃie între un verb + prepoziŃie /
particulă adverbială.
Sensul unui verb complex fie nu are legătură cu elementele
componente luate separat, fie este rezultatul elementelor componente
(verb + prepoziŃie/adverb) luate ca întreg.
Verbele complexe pot fi împăŃite în:
1. Verb + prepoziŃie
Verb + prepoziŃie + complement prepoziŃional
We apologise for any inconvenience caused by the delay.
Verb + prepoziŃie + V … ing
They succeeded in boosting pre-tax profits.

• Notă
Când verbele complexe sunt urmate de un verb, acest verb este de
obicei la forma în –ing.
• Notă
Nu folosim prepoziŃii după următoarele verbe:
answer, ask, call, phone, ring, discuss, enter, meet, reach, suit, tell
• Notă
Exemple de verbe + prepoziŃie:
agree to something; agree with somebody/something; allow for
something; amount for something; apologise for something; apply for
somebody/something; conform to something; consent to something;
consist of something; depend on something; hear about something;
hear from somebody; hope for something; insist on something; look
at somebody/something; look for somebody/something; look forward
to something; pay (somebody) for something; refer to something; rely
on somebody/something; succeed in something; think about
something (= concentrate on); think of something (= consider); wait
for somebody/something
2. Verb + complement + prepoziŃie
Verb + complement + prepoziŃie + complement prepoziŃional
unfair competition
Verb + complement + prepoziŃie + V… ing
entering the Japanese market.
• Notă
PrepoziŃia from se foloseşte după verbe care exprimă refuzul:
prohibit, restrain, forbid, prevent, ban, veto, stop
They prevented us from exporting the goods.
• Notă
După verbe care exprimă acceptul se foloseşte complement +
infinitiv: allow, authorise, help, permit, enable, encourage
They helped us to export the goods.

• Notă
Exemple de verbe + complement + prepoziŃie:
accuse somebody of something; advise somebody of/about
something; compare somebody/something with somebody/something;
congratulate somebody on something; convince somebody of
something; describe something to somebody; divide/cut/split
something into something; do something about somebody/something;
explain something to somebody; interest somebody in something;
prefer somebody/something to somebody/something; prevent
somebody/something from somebody/something; provide somebody
with something; remind somebody of something; spend money on
something; tell somebody about something

3. Verb + adverb (phrasal verb)
Verb + adverb + complement + restul propoziŃiei
this form
in duplicate
Turn up
early at the stand
• Notă
Cele mai frecvente adverbe folosite sunt: about, along, away, back,
down, forward, in, off, on, out, over, round, through, up
• Notă
Unele dintre phrasal verbs îşi păstrează sensul individual al verbului +
cel al adverbului:
I’ve brought back the plans. Would you like to see them?
Alte phrasal verbs au un sens diferit de cel al elementelor
He made up a wonderful story about his adventures in Rotaronga.
(make up = invent)


• Notă
Exemple de Phrasal verbs:
Break down (stop working); bring about (cause); call off (cancel);
call round (visit); close down (stop the operations of); come along
(come); fill in (complete by writing in relevant information); find out
(discover); look over (examine quickly); make up (invent); move in
(take possesssion of new premises); put on (turn on); send back
(return); speak up (speak louder); speed up (make faster); throw
away; turn down (reject); turn up (arrive); walk through; write

TraduceŃi în limba engleză folosind get ca phrasal verb:
1. Tom promise că se va apuca serios de treabă dar numai începând de
lunea viitoare. 2. Şterge-o. Degeaba încerci să mă cucereşti. 3. De
când i s-a publicat lucrarea nu îşi mai încape în piele de mândrie. 4.
Şi-a dat seama că nu poŃi rămâne nedescoperit când faci o crimă. 5. Ai
scăpat ieftin! 6. Ştie cum s-o ia pe mătuşa ei şi s-o facă să-i cumpere
tot ce-şi doreşte.
TraduceŃi în limba engleză folosind give şi carry ca phrasal verb:
1. Talentatul scriitor a luat premiul pentru literatură. 2. Ştie să
vorbească fără să se trădeze cu nimic. 3. A fost scos din fire de
obrăznicia cu care îi replica puştiul. 4. Fusese prea sigur că norocul
nu-l va părăsi. 5. Această fereastră dă spre malul mării.
TraduceŃi în limba engleză folosind look ca phrasal verb:
1. Va trebui să te descurci fără să te îngrijească Mary. 2. Aştept cu
nerăbdare să-mi spui că ai examinat chestiunea cu grijă. 3. Acum
treburile lui promit să meargă mai bine. 4. Treci să mă vezi mâine
după ora cinci.
TraduceŃi în limba engleză folosind make şi be ca phrasal verb:
1. Cei doi veri nu se împacă deloc bine. 2. Ştiu că nu e perfect, dar
calităŃile lui îi compensează lipsurile. 3. Nu îŃi pot descrifa scrisul, e
prea neciteŃ. 4. Lucrăm numai cu materialul clientului. 5. Filmul
acesta rulează de o lună, trebuie să fie bun. 6. Hai să ne împăcam!

Cheia exerciŃiilor:
* 1. Tom promised to get down to work but only beginning with next
Monday. 2. Get along with you! You are trying in vain to get round
me. 3. Since he had his work published he has simply got above
himself. 4. He realized one can’t get away with crime. 5. You got off
cheaply! 6. She knows how to get round her aunt and make her buy
her whatever she wishes.
* 1. The gifted writer carried off the Prize for Literature. 2. He knows
how to talk without giving himself away at all. 3. He was carried away
by the impudence of the urchin’s retorts. 4. He had been too sure his
luck would not give out. 5. This window gives on (to) the seashore.
* 1. You’ll have to manage without Mary looking after you. 2. I’m
looking forward to your telling me you’ve looked into the matter
carefully. 3. His affairs seem to be looking up. 4. Look me up
tomorrow after five o’clock.
* 1. The two cousins don’t get on well at all. 2. I know he is not
perfect but his qualities make up for his defects. 3. I cannot make out
your hand writing, it is really illegible. 4. Only customers’ materials
made up here. 5. This film has been on for a month; it must be a good
one. 6. Let’s make it up!



Vorbirea indirectă se foloseşte pentru a relata cuvintele unei alte
persoane. Principalele categorii ale vorbirii indirecte sunt: afirmaŃii,
interogaŃii, comenzi.
Vorbirea indirectă poate avea două forme:
1. O propoziŃie principală cu un verb al relatării + o propoziŃie
They say that we will receive the confirmation next week.
2. o propoziŃie principală cu un verb al relatării + un infinitiv cu
They asked us to send confirmation as soon as possible.

Regula de bază pentru a determina timpul verbal din subordonată este
după cum urmează:

Dacă verbul relatării este la:
Prezent perfect
Dacă verbul relatării este la:
Trecut perfect

În vorbirea indirectă:
nici o schimbare
În Vorbirea indirectă:
present ……. past
past ……... past / past perfect
present perfect….past perfect
will ……….. would

• Notă
CondiŃionalele de tipul II şi III nu se modifică în vorbirea indirectă.
CondiŃionala de tipul I se modifică într-una de tipul II.
Jo said: “If I listen, I will learn.”
Jo said that if he listened, he would learn.
Verbele modale se modifică astfel:
Can – could; may – might; will – would; shall – should; must –
must/had to; could – could; might – might; should – should; ought to –
ought to; would – would; used to – used to
Pronumele şi adjectivele se modifică astfel:
Vorbirea directă
I / you
We / you
Me / you
Us / you
My / mine
Our / ours
This / these

Vorbirea indirectă
he / she
him / her
his – her / his – hers
my – his – her – our – their
mine – his – hers – ours – theirs
their / theirs
that / those

• Notă
Când vorbitorul îşi relatează propriul discurs, pronumele şi adjectivele
rămân neschimbate.
I said: “I am angry.”
I said that I was angry.

Adverbele şi expresiile adverbiale se modifică astfel:
Vorbirea directă
The day before yesterday
The day after tomorrow
An hour/week/month ago
Next week/year
Last week/month

Vorbirea indirectă
there, in that place
then, at that time
that day
the day before
two days before
the day after
in two days
an hour/week/month before
the following week/year
a week/month before

• Notă
Principalele verbe ale vorbirii indirecte sunt say şi tell.
Tell cere persoana cu care se vorbeşte
Say poate funcŃiona singur sau poate primi to + persoana cu care se
Tom told us that he was leaving.
Tom said that he was leaving.
Tom said to us that he was leaving.
Alte verbe ale vorbirii indirecte pot fi:
accept, add, admit, affirm, agree, allege, announce, answer,
apologieze, argue, assert, claim, comment, communicate, convey,
declare, demonstrate, disclose, divulge, emphasise, explain, highlight,
imply, indicate, inform, maintain, notify, object, offer, promise,
protest, prove, recount, refuse, remark, reply, report, restate, reveal,
show, state, stress, suggest, transmit


Topica verbelor interogative în interogaŃia directă se modifică în
interogaŃia indirectă devenind topica verbelor afirmative
I asked: ”Who did she go with?”
I asked who she had gone with.
Există două tipuri de întrebări directe: Wh-questions şi yes/no
În vorbirea indirectă se menŃin cuvintele interogative cu WhWhen exactly will you be in Poland?
He asked when exactly I would be in Poland.
Pentru întrebările cu yes/no, folosim if şi whether:
Does your company provide investment advice?
She asked if/whether our company provided investment advice.
• Notă
Verbe ale relatării utilizate pentru întrebări: ask, demand, examine,
inquire, investigate, query, question

Comenzi, cerinŃe, sfaturi
În vorbirea indirectă verbul de la imperativ se tranformă în verb urmat
de complement + infinitivul cu TO
He said: “Claire, stand up!”
He told Claire to stand up.
Pentru o comandă negativă, forma indirectă primeşte pe NOT înaintea
Barbara said: “Don’t touch!”
Barbara asked me/us not to touch.
Chiar dacă în comanda directă nu este menŃionat complementul, la
forma indirectă este necesar un complement pronominal!
He said: “Stand up!”
He told her/him/us to stand up.


• Notă
Verbele relatării folosite pentru comenzi, cerinŃe, sfaturi sunt: ask,
beg, brief, call for, command, direct, implore, instruct, invite, press,
request, require, tell, urge
• Notă
Alte verbe folosite în vorbirea indirectă. Unele dintre aceste verbe cer
o propoziŃie subordonată (1), altele un infinitiv cu To (2), iar altele cer
ambele variante(1,2):
convince (1,2), encourage (1,2), entreat (2), indoctrinate (2), invite
(2), motivate (2), persuade (1,2), threaten (2), urge (1,2), warn (1,2)

Următoarele propoziŃii sunt în vorbirea directă:
Don’t wait for me if I’m late.
Will you marry me?
Hurry up!
Can you open your bag, please?
Please slow down!
Don’t worry, Sue.
Mind your own business.
Could you repeat what you said, please?
Do you think you could give me a hand, Tom?
AlegeŃi una dintre aceste propoziŃii pentu a completa propoziŃiile
de mai jos. FolosiŃi vorbirea indirectă:
1. Bill was talking a long time to get ready, so ….
2. Sarah was driving too fast, so I asked ….
3. Sue was very pessimistic about the situation. I told …
4. I couldn’t move the piano alone, so I …
5. The customs officer looked at me suspiciously and …
6. I had difficulty understanding him, so I …
7. I didn’t want to delay Ann, so I …
8. John was very much in love with Mary, so he …
9. He started asking me personal questions, so …

Cheia exerciŃiilor:
So I told him to hurry up.
So I asked her to slow down.
I told her not to worry.
So I asked Tom to give me a hand.
And asked me to open my bag.
So I asked him to repeat what he had said.
So I told her not to wait for me if I was late.
So he asked her to marry him.
So I told him to mind his own business.



PrepoziŃiile sunt în mod normal aşezate în faŃa substantivelor sau
pronumelor şi după verbe. Ele pot de asemenea preceda verbele în –
Există puŃine reguli referitoare la prepoziŃiile limbii engleze. Foarte
adesea utilizarea lor trebuie învăŃată pe dinafară. PrepoziŃiile creează
probleme considerabile celor care învaŃă engleza deoarece o anume
propoziŃie care în propria sa limbă va cere o anumită prepoziŃie va
avea în engleză o altă prepoziŃie.
PrepoziŃii de mişcare
1. Mişcare în sus/în jos
Down (to) up (to) on (to) off
Down: o mişcare în jos sau scădere a respectului statutului.
Sam broke his arm when he fell down the slope.
The Conservative Government went down at the last elections
Down to: o mişcare către sud.
I was staying in Paris but I went down to Nice to visit an old
friend of mine.

Up: o mişcare în sus sau a dobândi respect social.
Next door’s cat always climbs up a tree to hide whenever it
hears our dog bark.
Dr. Barnard went up in people’s estimation when he
performed the first heart operation.
Up to: o mişcare către nord sau o mişcare în sus a statutului social.
John works in Rome now but he is being moved up to Milan
next week.
Joe has done well in his career; he’s been promoted up to
managing director in just four years.
On(to): o mişcare spre o suprafaŃă mai înaltă.
I had to move the books on(to) the top shelf so my child
couldn’t reach them.
Off: o mişcare spre o suprafaŃă mai joasă.
When the cat saw a mouse running across the floor it jumped
off the sofa to chase it.
• Notă
Utilizare specială. Este destul de comună folosirea structurilor-tip,
Up/down the street
Up to/down to the supermarket
On/off a bus, bicycle, plane, ship, sau orice alt mijloc de transport.
(dar: into/out of a car)
2. Deplasare printr-un spaŃiu
Across along by past through over
Across: o mişcare dintr-o parte spre cealaltă, pe sau aproape de
It takes a long time to sail across the Atlantic.
Along: a parcurge lungimea a ceva
If you walk along the Champs Elysees you will eventually
reach the Eiffel Tower.
By: a se mişca de-a lungul sau în apropierea a ceva.
If you pass by the shops today, will you get me a litre of milk?

Past: a se mişca de pe o parte a ceva pe cealaltă.
I am sure I saw a thief move past the window.
Through: a se mişca printre lucruri.
The gateway was so narrow that the truck driver had problems
getting through it.
Over: a se mişca pe deasupra unei suprafeŃe dintr-o parte în alta a
It’s quicker to fly over the Atlantic than to sail across it.

3. DirecŃii
Around at away from for into onto out of to towards
Around: mişcări pe o traiectorie circulară.
I went all around the house to find an open window, but I
At: către ceva sau cineva.
He looked at me as if I were a criminal.
Away from: a părăsi, a pleca de la cineva sau ceva.
When I was a boy I ran away from school because I didn’t like
Away from poate fi folosit şi în sens abstract: = free from everything.
I can’t wait to get away from it all.
For: a se mişca cu o destinaŃie precisă.
Sherlock Holmes left for Glasgow as soon as he received the
news of the murder.
Into: a se deplasa către interiorul a ceva.
The last they saw of the explorer was when he went into the
jungle to hunt for tigers.


Onto: a aşeza ceva peste altceva.
The professor put his papers onto the lectern and began his
Out of: a ieşi din ceva.
The prisoner was let out of prison after a ten year sentence.
To: a se delpasa în direcŃia unei anumite persoane sau a unui lucru.
Can you give me a lift to work tomorrow morning, please?
Towards: a se delpasa către ceva sau cineva
I think we should head towards the mountain; it’s much coller
there at this time of the year.
• Notă
You shout at somebody (când eşti nervos)
But you shout to somebody (când vrei să atragi atenŃia)
You throw something to somebody (când vrei să prindă ce arunci)
But you throw something at somebody or something (când vrei să
loveşti pe cineva sau ceva)

4. Mişcări comparative
After ahead of / in front of


After: a urma sau urmări
The shop-keeper ran after the boy who smashed his window.
Ahead of / in front of: a preceda pe cineva sau ceva
I’ll go on ahead of / in front of you and find a place to camp
for the night.
Behind: a urmări pe cineva sau ceva, a urma cuiva…
The old lady drove so close behind me that, when I braked,
she crashed into me.


PrepoziŃii de poziŃie
1. PoziŃii pe verticală
Above after below down in on over to under(neath)


Above: mult mai sus decât altceva, chiar şi figurativ
I am above his insults.
After: ceva puŃin inferior unui alt lucru
Carl Lewis came in second in the 100 meters after Linford
Below: ceva imediat inferior unui alt lucru, sau mai puŃin important
In a company structure a sales representative comes below a
sales manager.
Down: a fi partea inferioară a ceva, şi a avea mai puŃin respect pentru
She went down in my estimation when she said those things.
On: similar cu above, dar în contact cu ceva
There’s a telephone on the wall over there.
Over: similar cu above, dar obiectul este mai aproape de ceva
The horse jumped over the obstacles beautifully.
To: estimări relative
The Marketing Manager of I.B.U. reports to the General
Under: similar cu below, dar obiectul este mai aproape de ceva
That bridge is too low for that truck to go under.
Underneath: la fel ca under dar mai formal
The tunnel underneath the English Channel was opened in the
summer of 1994.
Up: contrarul lui down
“Is this the shop?” “No, it’s further up the street.”


In: un spaŃiu închis
My little boy closed himself in the bathroom and couldn’t get

2. PoziŃii relative
Against along alongside around at beside
right / on the left of near next to towards


on the

Against: în contact cu altceva sau altcineva
Don’t lean against that post. It’s just been painted.
Along: de-a lungul a ceva
An Avenue usually has trees along it.
Alongside: aşezat alături de ceva sau cineva
The newly weds walked alongside each other down the aisle.
Around: vecinătate
He must be around here somewhere; I can see his footprints.
At: o poziŃie precisă
If you don’t wait at the bus stop, the bus won’t stop.
Beside: similar cu alongside
The anxious mother sat beside her ill baby all night.
By: în vecinătatea
Bill’s very lucky; he has a summer house by the sea.
On the right of / on the left of: aşezat la dreapta / stânga a ceva sau a
There’s a suspicious looking man standing on the left of the
Near: aproape de ceva sau cineva
I live near my office, so I can walk to work.


Next to: în direcŃia a ceva sau a cuiva
Nights get darker as we get towards Christmas.

3. PoziŃii opuse
Across after before behind facing in front of opposite over
Across: trecut de o anumită limită
If you look across the field you’ll see the church.
After: o poziŃie consecutivă
My best friend had five children, one after the other.
Before: a se desfăşura înainte de altceva
You must learn to walk before you run.
A se desfăşura în prezenŃa cuiva
Stand before the Judge and swear to tell the truth.
Behind: aşezat în spatele a ceva sau al cuiva
Don’t turn round, Jack. There’s a snake behind you.
Facing: privind în direcŃia a ceva sau a cuiva
Turn your seat facing me so I can see you properly.
In front of: aşezat înaintea a ceva sau cuiva
There’s a long queue in front of me. I can’t possibly wait.
Opposite: similar cu facing
They built a warehouse opposite my house and blocked out
my view of Monte Vecchia.
Over: ceva aflat de cealaltă parte a altceva
Dover is over the Channel from Calais.

PrepoziŃii de timp

1. Timpul pe ceas
About around at in on

About: un timp aproximativ
My appointment at the dentist’s is at 10.00 o’clock, but he’s
always about half an hour late.
Around: la fel ca about
My dentis is never punctual; he’s always around half an hour
At: timpul exact
The film starts at 8 o’clock.
• Notă
At se foloseşte şi pentru a face referiri la perioada din preajma
I always go skiing for a week at Christmas.
In: o parte a zilei, luni, anotimpuri şi ani
I like to have a big breakfast in the morning.
It doesn’t rain much in Greece in summer.
On: cu zile ale săptămânii / date / zile anumte
The road works will start on Monday and finish on
I last saw him on July 4th.
• Notă
Se spune:
In the morning/ afternoon / evening
At night

2. timpul de dinainte şi de după…
after before by past to
After: mai târziu decât un timp sau eveniment dat
As my first appointment is after nine, I can catch a later train.

Before: înaintea unui timp sau eveniment dat
Before we start, I’d just like to introduce myself.
By: ceva care se petrece înainte sau nu mai târziu de un moment dat
Applications must be sumitted by June 5th.
Past: similar cu after dar mai colocvial, folosit şi pentru a exprima
I’m tired. It’s past my bed time.
To: folosit de asemenea pentru a exprima ora
It’s a quarter to midnight: only 15 minutes to go before the
New Year.

3. Durata în timp
About between during for in since until

About: durata estimată
The play will probably last about two and a half hours.
Between: de la un punct dat în timp la un altul
The period between leaving school and going to university
was a stressful one.
During: o perioadă stabilită în timp
I managed not to do any work during my holiday, though I
should have.
For: durata unei perioada date de timp
World War II went on for six years.
In: o anumită durată
I’m going to the shops. I’ll be back in an hour.
Since: de la punctul de început din trecut până în prezent
Italy has been a republic since 1945.

Until: durata până la un punct dat în timp
Hong Kong will belong to England until 1997, when it goes
back to China.

Because of: cauza
The UK is suffering because of the economic crisis.
For: similar cu because of dar legat în general de credinŃe
Nadir Tylon lived and died for his country.
A knife is used for cutting things.
In: parte a unui proces
Nowadays a lot of aluminium is used in the car industry.
Of: cauza unei acŃiuni
Lots of people in India are dying of hunger.
With: un sentiment care determină o acŃiune
Susana cried with joy when she read her exam results.
folosirea unui instrument
Don’t put that screw in with a hammer. Do it with a
By: prin acŃiunea sau creaŃia cuiva / a ceva
John Lennon was killed by an assassin’s bullet.
Like: un anumit comportament
My husband acts like a child when he can’t get his own way.
pentru a compara fiinŃe/lucruri similare
Even though they are twins they don’t look like each other.
As: profesia cuiva
She works as a nurse in Guys Hospital London.
But: cu excepŃia a ceva sau cineva
He took everything but the kitchen sink. (Expresie)

At: abilităŃi într-o anume activitate
My daughter, Emma, has always been good at drawing.
In: similar cu at, dar nu se poate folosi cu good sau bad
My daughter, Emma, has always been interested in drawing.
From: originea
My family come from Warrington in Cheshire.
With: legătură, ataşament
The little girl always goes to sleep with her cuddly teddy.
Without: opusul lui with
I always drink coffee without sugar.
For: ceva sau cineva potrivit sau destinat
This grammar book is for foreign students of English.

ConjuncŃiile sau cuvintele de legătură se folosesc pentru a lega
Acest capitol se ocupă cu perechi de cuvinte de legătură care ar putea
provoca anumite confuzii pentru cei ce studiază engleza.
ConjuncŃii de timp
1. as, when, while se folosesc cu referire la o acŃiune care se petrece
în acelaşi timp cu alta.
When my alarm clock rings at 7 o’clock I get up.
As I was looking out of the window, I saw him arriving.
While you were out shopping, John rang.
2. after, as soon as, before, when se folosesc cu referire la o acŃiune
care se petrece imediat după o alta.
After I left university, I went to work abroad.

As soon as I heard him speak on TV, I changed the channel.
When I finished typing those letters, I posted them.
The client put the phone down before I could give an explanation.
3. until / till se referă la durata în timp a unei situaŃii.
I can’t go out until my mother comes back.
I can’t change my car till I have finished paying for it.
• Notă
Just poate fi folosit în faŃa acestor conjuncŃii pentru a sublinia
apropierea în timp a acelor două acŃiuni
Just as he noticed he was being watched, he ran off.

ConjuncŃii contrastive
1. although, even though, though se folosesc cu referire la afirmaŃii
opuse sau contraste, înaintea subiectului sau verbului.
Although he is a good writer, he has never published a book.
Even though there’s a speed limit he always exceds it.
• Notă
Though este o alternativă mai puŃin formală pentru although şi even
though. În engleza vorbită apare de obicei la sfârşitul propoziŃiei.
George studied hard. He didn’t manage to pass his exam though.
2. in spite of sau despite se folosesc cu referire la afirmaŃii opuse
sau contrastante, în faŃa unui substantiv, pronume sau gerunziu.
In spite of the traffic, he still managed to get here in time.
Despite the weather, we decided to go anyway.
• Notă
In spite of şi despite pot fi folosite şi cu the fact that.
In spite of the fact that he was very busy, he took time off work.

3. while, whereas se folosesc cu referire la contrastul dintre două
Brian eats a lot, while Henry hardly eats at all.
My old car was very slow, whereas my new one is much faster.

4. however se foloseşte cu referire la contradicŃia dintre două
The secret agent was told to be at the meeting point at 6 o’clock
sharp. However, when he arrived, his contact wasn’t there.

ConjuncŃii de cauză şi efect
1. because, because of, as, since se folosesc cu referire la motivele
de a face o acŃiune.
The baby cried because it was hungry.
Dad is not going to work today because of the strike.
As it’s raining, you had better take an umbrella.
Since the president is abroad, the vice-president will take his place
today at the presentation.
• Notă
Because, because of, as şi since au acelaşi sens dar folosesc
construcŃii diferite.
Because se foloseşte înainte de subiect şi verb.
Because of se foloseşte înainte de substantiv.
As şi since se folosesc amândouă la începutul propoziŃiei.

2. so, therefore se referă la rezultatul unei acŃiuni.
Joe has exams all next week, so he can’t go out in the evenings.
The Mayor has attend an urgent meeting. Therefore he’ll have to
cancel the lunch engagement.
• Notă
So şi therefore au acelaşi sens. So este mai frecvent în engleza




Substantivele au diferite funcŃii într-o propoziŃie.
Ele pot fi:
Subiectul sau complementul direct sau indirect al unui verb
Numele predicativ al verbelor be, become şi seem
Complement prepoziŃional
În cazul genitiv (Genitivul saxon sau sintetic)
În engleză substantivele au în toate aceste cazuri aceeaşi formă – cu
excepŃia genitivului sintetic.
• Notă
În engleză toate propoziŃiile trebuie să aibă subiect. Subiectul poate fi
un substantiv sau un pronume.

Substantivele în limba engleză se pot împărŃi în patru tipuri:
Substantive proprii: Ann, China, Paris, Dr Moody
Substantive comune: doll, apple, plate, tree
Substantive abstracte: happiness, love, honesty, fear
Substantive colective: family, group, herd, staff
• Notă
Substantivele proprii se scriu întotdeauna cu iniŃială majusculă.
Substantivele limbii engleze pot varia după gen şi număr.
1. Cele mai multe substantive au aceeaşi formă pentru toate genurile.
friend child doctor cousin baby teenager artist cook
dancer driver teacher
genul poate fi indicat de un pronume însoŃitor.
My friend sent her son a present.
The doctor opened his bag.

Child şi baby pot fi considerate neutre.
The baby closed its eyes and fell asleep.
Numele de Ńări sunt şi ele considerate neutre.
Lately, Kenya has greatly improved its economy.
2. Multe substantive care denumesc oameni
feminină şi una masculină
Son, daughter
nephew, niece
Actor, actress
waiter, waitress
Father, mother
husband, wife
Bachelor, spinster heir, heirwss
Male, female
bull, cow

şi animale au o formă
uncle, aunt
gentleman, lady
man, woman
hero, heroine
rooster, hen

Genul poate fi indicat combinând substantive fără gen cu: boy,
girl, male, female, man, woman
Boyfriend, girlfriend
male pilot, female pilot
Man dentist, woman dentist
policeman, policewoman

Recent, în încercarea de a elimina “discriminarea de gen”, există o
tendinŃă de a înlocui “terminaŃiile” man şi woman cu person sau
de a le elimina complet. În alte cazuri au fost create alte expresii
sau alte cuvinte lipsite de gen.
Vechea folosire

Noua folosire

Salesman, saleswoman
Chairman, chairwoman
Steward, stewardess

chairperson, chair
flight attendant

În enlgeză substantivele se împart în două categorii: numărabile şi


Substantivele numărabile se pot număra, adică au număr. Pot avea
atât forme de singular cât şi de plural. La singular pot fi precedate de
a(n) sau one.

Forme regulate:
1. La majoritatea substantivelor se adaugă –s formei de singular.
Book, books
day, days
house, houses
Donkey, donkeys safe, safes
girl, girls
2. Substantivele terminate în o, ch, sh, s sau x primesc –es.
Potato, potatoes
church, churches
brush, brushes
Bus, buses
box, boxes
kiss, kisses
3. Substantivele terminate în consoană + y pierd pe y şi primesc –
Baby, babies
factory, factories
fly, flies
• Notă
Există excepŃii: kilo, kilos
radios soprano, sopranos

photo, photos

piano, pianos


Forme neregulate
1. Unele substantive elimină –f / fe de la final şi primesc –ves.
Calf, calves
wife, wives
wolf, wolves
Loaf, loaves
leaf, leaves
life, lives
Shelf, shelves
thief, thieves knife, knives
self, selves
2. Unele substantive îşi modifică vocalele.
Foot, feet tooth, teeth
goose, geese man, men
Woman, women
mouse, mice
louse, lice
• Notă
AtenŃie! Child, children

person, people


3. Unele substantive au aceeaşi formă la singular şi la plural:
Sheep,deer, aircraft, trout, series, species, salmon, means, fish,
4. Unele substantive există numai la forma de plural.
Clothes, pants, pyjamas, scissors, glasses, scales, stairs, savings,
outskirts, grounds, goods, earnings, valuables, surroundings,
arms (weapons), archives, belongings, proceeds, wages, premises,
the Middle Ages, braces, customs, trousers
• Notă
Police este considerat a fi la plural.
The police are inspecting their house.
• Notă
Aceste substantive nu sunt Niciodată precedate de numere (one, two,
three etc.). pentru a indica numărul, folosiŃi some, a little, etc. sau
pair/set, group etc. + of.
Ten pairs of pants, three sets of archives, a roomful of belongings etc.
5. Unele substantive
sau latin.
Crisis, crises
Datum, data
Nucleus, nuclei
Basis, bases
Axis, axes

împrumutate păstrează pluralul greces, italian
cactus, cacti
phenomenon, phenomena
libretto, libretti
fungus, fungi
stimulus, stimuli
criterion, criteria
thesis, theses
oasis, oases
medium, media
bacterium, bacteria

• Notă
Engleza modernă foloseşte adesea data, media şi bacteria cu sens
plural dar cu un verb la singular
The latest data is highly encouraging.
6. Numele de familie se pot folosi la plural pentru a indica întreaga
familie. Numelui i se adaugă un –s. Nu au loc schimbări de
The Kennedys are world-famous.

7. Substantivele colective se referă la un grup de oameni sau lucruri.
Sunt în mod normal folosite la singular. În engleza britanică se pot
folosi atât verbe la singular cât şi la plural. În engleza americană
au întotdeauna un verb la singular.
enemy company
gouvernment group proletariat
Opposition gang jury
army public
Audience crew navy staff
team committee
The jury are about to give their verdict. (engleza britanică)
The public is opposed to the new tax.
• Notă
Spre deosebire de substantivele numărabile normale, substantivele
colective nu pot fi direct precedate de numere sau “some”.
Five OF THE group stayed past midnight.
Some OF THE opposition switched sides.
• Notă
Ocazional substantivele colective sunt folosite la plural şi sunt
Romeo and Juliet came from two feuding families.
Only two teams can get to the finals.

Substantivele nenumărabile nu pot fi numărate, adică nu au număr.
De obicei au numai formă de singular. Nu pot fi precedate de a(n) sau
de numere.
Substantivele nenumărabile se împart în următoarele grupuri:
1. substantive concrete
wood metal
gold sand
butter wine

paper grass
snow rain

2. substantive abstracte
beauty hope relief

glass oil
bread milk





• Notă
Work este nenumărabil dar job este numărabil:
Harriet is looking for work. John has found two jobs.
Works înseamnă: fabrică, parte mecanică, producŃie literară, fapte sau
Mother Theresa of Calcutta is known for her good works.
• Notă
Iată câteva substantive nenumărabile care în alte limbi se pot deseori
money weather
news equipment
3. Substantive verbale (gerunzii sau verbe în –ing).
Camping dancing shopping
Smoking is bad for your health.
4. Nume de limbi



Italian Spanish

5. Unele nume de boli, ştiinŃe şi jocuri au formă de plural dar în mod
normal primesc un verb la singular. Sunt considerate
Statistics mathematics news
Mathematics is an important subiect.
• Notă
Unele substantive sunt atât numărabile cât şi nenumărabile. Dar sensul
lor e diferit în fiecare caz.
a paper
a light

a wood
a glass
an iron
a hair
He buys a paper everyday. The student had written an interesting
paper on Keats. Paper is made of wood pulp.
• Notă
Substantivele nenumărabile nu sunt niciodată precedate de numere (a,
an, one, two, three etc). Iată câteva expresii folosite pentru a indica
A piece of information/furniture/advice/equipment/glass/paper/news
A type of atmosphere/behaviour/violence
An item of luggage/news/baggage
A case of mumps/measles/flu
A ray of hope/sunshine
A lot of strenght/security
Adjective folosite ca substantive
FolosiŃi the + adjectiv pentru:
1. grupuri de persoane cu aceleaşi caracteristici. Urmează un verb la
The rich are not always as happy as we imagine.
2. calitate impersonală. Urmează un verb la singular.
The impossible has strong attraction for some people.
3. naŃionalitate (dacă există un cuvânt separat).
The French
the Chinese
the English
the Japanese
The Poles
the Germans the Scots
the Finns

Substantive compuse
Substantivele compuse sunt formate din două sau mai multe cuvinte
care, împreună, creează un nou substantiv cu un nou sens
swimming pool
Substantivele compuse pot fi:

1. scrise ca un singur cuvânt, cuvinte separate sau cu cratimă. Dacă
aveŃi îndoieli cel mai bine e să consultaŃi întotdeauna dicŃionarul.
Armchair can opener
one-way street
2. numărabile
alarm clock
fast food
compact disc
human race
drinking water
waiting room
welfare state
yellow pages
pocket money
3. compuse din două substantive. Primul substantiv este folosit ca
adjectiv şi este la singular.
Chain factory (a factory for chains)
Cotton skirt (a skirt made of coton)
A ten-year-old girl (a girl who is ten years old)
Car accident (accident involving cars)
A two-week cruise (a cruise lasting two weeks)
4. substantivele compuse numărabile formează pluralul aplicând
regulile normale de plural ultimului substantiv.
Mail boxes
dish washers sleeping bags T-shirts
• Notă
Uneori (dar rar) substantivele la plural pot fi folosite ca adjective:
Sports car
customs department
clothes store
Sales divison
savings bank
news item
5. substantivele compuse formate din verbe complexe
substantive legate cu of şi in au plurale neregulate.
Lilies of the valley


Posesia: of şi genitivul sintetic
Posesia se poate exprima folosind:
1. OF
În multe cazuri folosim of pentru a exprima posesia.
Substantivele, folosite ca adjective, pot şi ele uneori indica

Door of the car
Frame of the picture
Headquarters of the company
The color of the wall
Needles of the pine tree
Engine of the car

car door
picture frame
company headquarters
the wall color
pine tree needles
car engine

• Notă
Adjectivele nu au număr. Substantivele care devin adjective sunt la
The tops of the boxes.
The box tops
2. Genitivul sintetic
În cazul persoanelor şi animalelor folosim genitivul sintetic pentru
a exprima posesia.

Formă: formaŃi genitivul saxon adăugând ‘s sau ‘ substantivelor
toate substantivele singulare
substantivele plurale care
NU se termină în –s
His mother’s
My children’s

substantivele plurale terminate
în –s
the teachers’
the Gallaghers’
the Waleses’
his sisters'

Utilizare: folosiŃi genitivul sintetic:
1. pentru a exprima posesia cu referire la persoane şi animale
Helen’s mother is ill.
The old horse’s mane is still very beautiful.
2. în expresii temporale
one week’s pay
today’s news
two hour’s wait
a month’s holiday
The plane had an hour’s delay.

a year’s leave
yesterday’s partythe

In two weeks’ time I’ll be lying on the beach in Bali.
3. cu pronume nehotărâte ca: everybody, someone, anybody, anyone,
nobody, no one – mai ales dacă sunt însoŃite de else.
It’s nobody’s fault.
That must be somebody else’s bag.
4. cu anumite instituŃii, grupuri, expresii geografice
The government’s decision will be made public tomorrow.
The world’s lakes and rivers are in a disastruous condition.
5. singur, când al doilea substantiv înseamnă: store, shop, studio,
office, restaurant, church sau cathedral.
Go and buy a loaf of bread at the baker’s (shop).
Their weeding was at St.Patrick’s (cathedral).
6. cu OF (posesiv dublu).
Mandy is a friend of Ann’s. = Mandy is one of Ann’s friends.
• Notă
Obiectul posedat pierde articolele şi pronumele care îl preced când
este folosit cu un genitiv sintetic.
His child owns THAT bicycle. It is broken. His child’s bicycle is
• Notă
NU folosim genitivul sintetic:
Cu adjective folosite ca substantive:
He intends to improve the condition of the poor.
Când posesorul este determinat de propoziŃii subordonate sau expresii
I’d like you to meet the mother of the boy who won first prize.


AlegeŃi forma potrivită a verbelor. ObservaŃi diferenŃa de sens a
substantivelor care primesc atât verbe la singular cât şi la plural.
1. His phonetics is/are much better than hers. 2. My trousers is/are
flared. 3. The scissors is/are lost for ever, I guess. 4. Statistics is/are
his favourite study. 5. Cod eats/eat a variety of food. 6. Acoustics
is/are a branch of physics. 7. The new statistics shows/show a great
increase in manufactured goods. 8. Youth today is/are turning away
from the church. 9. What is/are the most efficient means of dealing
with this problem? 10. The pliers is/are on the table. 11. The acoustics
of the National Theatre Hall is/are excellent. 12. Politics is/are the art
of the possible. 13. Poultry was/were expensive that winter. 14. What
is/are your politics? 15. The people of the country lives/live beyond
their means. 16. He had no time for visitors while the poultry
was/were being fed. 17. Everybody’s means is/are being tested. 18.
Mathematics is/are given top priority nowadays. 19. What is/are cattle
good for? 20. The police has/have made no arrest yet. 21. Fresh-water
fish includes/include salmon, trout, carp and eels. 22. Gymnastics
is/are not given enough attention in our school. 23. The Italian clergy
was/were opposed to divorce. 24. Advice is/are readily given on all
the technical aspects.
CombinaŃi expresiile partitive din coloana A cu substantivele
nenumărabile din coloana B. TraduceŃi-le în limba română.
An article of
A bar of
A cake of
A grain of
A heap of
An item of
A loaf of
A lump of
A pice of
A pile of
A sheet of
A slice of
A strip of
A word of

Cheia exerciŃiilor:

1. Are 2. Are 3. Are 4. Is 5. Eat 6. Is 7. Show 8. Are 9. Is 10. Are
11. Are 12. Is 13. Was 14. Are 15. Live 16. Were 17. Are 18. Is
19. Are 20. Have 21. Include 22. Are 23. Were 24. Is

a lump / a piece of sugar (o bucată de zahăr)
a piece of meat (o bucată de carne)
a slice / loaf of bread (o felie de pâine / o franzelă, o pâine)
a sheet / piece of paper (o foaie / bucată de hârtie)
a cake / bar of soap (un săpun)
a bar / piece of chocolate (un baton de ciocolată)
a piece / strip of land (o bucată, o fîşie de pământ)
a grain of rice (un bob de orez)
a pile / heap of rubbish (o grămadă de gunoi)
a piece of evidence (o probă)
a piece / an item of information (o informaŃie)
a piece / word of advice (un sfat)
a piece of luggage (un bagaj)
a piece / an article of furniture (o piesă de mobilier)
a piece / an item of news (o ştire)



Formă: În engleză articolele au două forme: nehotărât A sau AN şi
hotărât THE. Articolele sunt invariabile şi nu au gen.
1. A se foloseşte în faŃa cuvintelor care încep cu un sunet
consonantic chiar dacă prima literă e o vocală. An se foloseşte în
faŃa cuvintelor care încep cu vocală sau h mut. Ambele se pot
folosi numai cu substantive numărabile la singular.
A dog
A desk
A man

a computer
a university (sunet consonantic)
a house

An orange
An umbrella
An idea
A building

a son
an hour (h mut)
an honour (h mut)
an example

• Notă
The se pronunŃă (ð∂) când stă în faŃa unui substantiv care începe cu
un sunet consonantic şi (ði:) înaintea unui substantiv care începe cu un
sunet vocalic.

2. The se foloseşte în faŃa oricărui substantiv numărabil sau
nenumărabil, atât la singular cât şi la plural.
The dog
The atmosphere
The house
The eggs
The rice

the dogs
the wine
the time
the information
the apple

• Notă
Când ne referim la acelaşi lucru sau aceeaşi persoană pentru a doua
oară, folosim de obicei pe the.
There is an apple and an orange for the dessert. I’ll eat the apple.
Utilizare: A sau AN se folosesc:
1. înaintea unui substantiv pentru a ne referi la ceva sau cineva
pentru prima dată.
I’ve received a postcard from a friend of mine in the US.
2. pentru a exprima ce este ceva sau cineva, inclusiv slujbe sau
My next-door neighbour is a dentist and his wife an architect.
Jenny doesn’t eat meat; she’s a vegetarian.
That was a kind thing to say.
3. după verbul be sau verbe copulative urmate de un adjectiv sau
substantiv sau când este urmat de locuŃiuni prepoziŃionale sau

propoziŃii relative care oferă mai multă informaŃie despre cineva
sau ceva:
Jack’s son is a talented artist.
I bought a painting that reminded me of my childhood home.
4. cu unele expresii numerice însemnând unu sau cu expresii ale
preŃului, vitezei, raportului şi cantităŃii.
A hundred guests were invited.
Petrol costs £ 1.50 a litre in England.
He’s crazy driving at 190 kilometres an hour.
• Notă
A / An şi one sunt uneori interschimbabile dar nu în toate cazurile.
A hundred pounds sau one hundred pounds
a lot of / a great deal of
5. cu substantive numărabile la singular pentru a da definiŃii, a face
afirmaŃii generale, exclamaŃii sau când exprimăm dorinŃe.
A dog is more company than a cat.
I’d like a nice cool glass of beer.
An apple a day keeps the doctor away.

Utilizare: THE se foloseşte:
1. înaintea unui substantiv singular numărabil sau nenumărabil sau a
unui substantiv plural numărabil pentru a face o nouă referire la
ceva ce a fost deja menŃionat sau la care s-a făcut deja aluzie.
He wanted to go to a bank to change some money, but all the
banks were on strike.
Do you remember the fun we had when we were at school
2. pentru a face referire la cineva sau ceva anume.
I like the painting above the fire place.
The American economy is suffering at the moment.

3. în faŃa unui substantiv reprezentând o anume persoană sau un
lucru sau un grup de persoane sau lucruri.
Shall I drive the car? (această maşină)
Will you make the tea, please? (ceaiul pe care ne pregătim să-l
4. cu referire la ceva unic în mod absolut.
The sun rises in the east and sets in the west.
The President of the United States visited the Pope last May.
5. în faŃa adjectivelor pentru a face referire la un anumit grup sau
clasă de oameni. În acest caz nu este nevoie de substantiv.
Only the strong survive.
Robin Hood stole from the rich to give to the poor.
6. în faŃa unui substantiv la singular pentru a se referi la un anume
grup de oameni, animale sau obiecte.
The Indian elephant is smaller than the African elephant.
The customer is always right.
• Notă
Există excepŃii.
Omaha is in North America.
The branch manager was sent to South-East Asia on a reconnaissance
7. înaintea unor substantive proprii pentru a denumi zone geografice,
nume de mări şi râuri, lanŃuri muntoase, grupuri de insule, nume
la plural de Ńări şi deşerturi.
• The Atlantic, the Bay of Biscay, the Middle East, the north of
England, the West of Ireland, the Ivory Coast, the Black Country
• The Mediterranean Sea, the English Channel, the River thames,
the Rhein, the Straits of Gibraltar
• The Himalayas, the Pennines
• The Channel Islands, the Hawaiian Islands, the Falklands
• The United States of America, the Netherlands
• The Arizona Desert, the Gibbon Desert


• Notă
The nu se foloseşte cu nume de munŃi izolaŃi:
Ben Nevis is the highest mountain in Scotland.
• Notă
Nu se foloseşte the cu nume de lacuri.
Lake Windermere, Lake Superior, Lake Victoria
8. în faŃa numelor de instrumente muzicale.
The guitar has always been my favourite instrument.
Do you think your father will let us play the drums in his garage?
9. în faŃa unor adjective – naŃionalităŃi cu referire la oameni dintr-o
anumită Ńară- aici se foloseşte un verb la plural.
The French and the British have worked together to build the
The Dutch are said to be hard workers.
• Notă
În anumite cazuri se pot folosi numai substantive la plural.
The Germans were upset about losing the semi-finals.
The Americans hosted the 1994 World Football Championship.
10. înaintea adjectivelor superlative şi a numeralelor ordinale.
Neil Armstrong was the first man to walk on the moon.
That is the silliest thing I have ever heard.
• Notă
Uneori numeralele ordinale pot fi folosite fără the atunci când se face
referire la ordinea în care se petrec evenimentele.
Brendan came first and Collin second in the 100 meters.
We went to Manhattan first, then on to Brooklyn.

Utilizare: Nu se foloseşte articolul:
1. în faŃa substantivelor nenumărabile sau numărabile la plural când
se face o afirmaŃie generală.
Pollution in big cities is very worrying.
Dogs make good companions.

Aceste cuvinte sunt adesea precedate de determinanŃi ca: some,
any, a piece of, a lot of
Is there any bread in the kitchen?
Are there any apples in the bowl?
• Notă
Iată o listă de substantive care sunt de obicei la singular şi
nenumărabile în engleză, dar uneori nu şi în alte limbi:
Luggage, baggage, furniture, news, information, advice, behaviour,
damage, permission, traffic, weather, work, accommodation, bread,
luck, progresss, hair
2. în faŃa substantivelor abstracte când sunt folosite în mod generic:
beauty, happiness, fear, hope, knowledge, intelligence; cu
excepŃia cazurilor când sunt folosite cu sens mai bine specificat.
Knowledge comes to us through our senses.
She got the job because she has a knowledge of English.
Beauty is in the eye of the beholder.
What a beauty!
3. în faŃa substantivelor proprii, nume de persoane şi numele unei
companii, cu excepŃia situaŃiilor când se vorbeşte de familie ca de
un tot.
He works for Unimotor Ltd.
Helene and Geoff Parker are coming to dinner tonight.
Dar The Parkers are coming to dinner tonight.
4. pentru a vorbi despre sporturi, în faŃa numelor de echipe
He loves football but she isn’t keen of golf.
She supports Manchester United.
5. înaintea numelor meselor zilei: breakfast, lunch, dinner, supper.
Where did you have breakfast?
6. înaintea cuvintelor home, church, university, prison, hospital,
market, atunci când ele reprezintă o instituŃie sau o idee generală.
The se foloseşte totuşi atunci când se face o referire specială la
locul respectiv.
John Bragg was arrested and put into prison for corruption.
His wife can go to the prison once a week to visit him.

Emma and Sam are at school.
Their mother often goes to the school to talk to their teacher.

AlegeŃi articolele: a, an, the, Ø
1. Nearly all … furniture had been taken out of … dining-room. 2. …
big piano was put in … corner and then there came … row of flower
pots and then there came … goldy chairs. 3. That was for … concert.
4. When Sun looked in … white-faced man sat at … piano – not
playing, but banging at it. 5. He had … bag of … tools on … piano
and he had stuck his hat on … statue against … wall. 6. So they went
into the dining-room; … red ribbons and … bunches of … roses tied
up … table at … corners. 7. In … middle was … lake with … rosepetals floating on it. 8. ‘That’s where … ice-pudding is to be’ said …
Cook. 9. Two silver lions with … wings had … fruit on their backs.
10. And all … winking glasses and shining plates, and all … food! 11.
‘Are … people going to eat … food?’ asked Sun. 12. While they were
being unbuttoned … Mother looked in with … white thing over her
shoulders; she was rubbing … stuff on her face. 13. ‘I’ll ring for them
when I want them, … Nurse.’

AlegeŃi articolele: a, an, the, Ø
1. Out of … ignorance he made … mistake after … mistake. 2. They
sailed through … Straits of Magellan. 3. … school and … home were
far away. 4. I’ll start as … deck boy at … pound … month. 5. …
children of … lane used to play together in … field: … Browns, …
Pages, little Tom … cripple. 6. They walked along … North Strand
Road till they came to … Finlandia House and then turned to … right
along … Wharf Road. 7. I went from … room to … room singing. 8.
At … Victoria Station … crowd of … people pressed to … carriage
doors. 9. That’s an order, said … Major Dunn. 10. … police officer
Dan Taylor stood guard over her outside … St. Francis Hotel. 11. …
judge James Taylor was not lenient. 12. … Chinese language is totally
unlike … Japanese. 13. … Japanese have transcribed their language

into … Roman alphabet as well. 14. I thought about it … day and …
night. 15. They transmitted television pictures back to … earth. 16. …
earth shone … brilliant blue green, curved at … horizon, against …
blackness of … space, below the two ships as … Soyuz trailed …
Apollo. 17. She settled down to sip … tea from … paper cup. 18. …
crocodiles can be bred commercially just like … cows or … pigs. 19.
… lava and … ash from … Merapi Volcano, … Central Jawa have
forced 170 families to flee their homes. 20. … female crocodile lays
about 40 eggs … year. 21. … farm life doesn’t agree with them. 22.
She was training for … Swan Lake. 23. … lack of … parking space
forces … motorists to double-park reducing … wide streets to …
narrow lanes. 24. They discovered … fossils of … bony fishes on …
field trip to … Ellesmore Island in … Artic. 25. The fire broke out
near … Lake Hemet, south of … mountain resort of … Idyllwild, and
burned to … southeast.

Cheia exerciŃiilor:
1. The, the 2. The, a, a, the 3. The 4. a, the 5. A, Ø, the, a, the 6. Ø, Ø,
Ø, the, the 7. The, a, Ø 8. The, Ø 9. Ø, Ø 10. The, the 11. Ø, the 12. Ø,
a, Ø 13. Ø
1. Ø, Ø, Ø 2. The 3. Ø, Ø 4.a, a, a 5. The, the, the, the, the, the 6. The,
Ø, the, the 7. Ø, Ø 8. Ø, a, Ø, the 9. Ø 10. The, Ø 11. Ø 12. The, Ø 13.
The, the 14. Ø, Ø 15. Ø 16. The, a, the, the, Ø, the, the 17. Ø, a 18. Ø,
Ø, Ø 19. Ø, Ø, Ø, Ø 20. A, a 21. Ø 22. Ø 23. The, Ø, Ø, Ø, Ø 24. Ø,
Ø, a, Ø, the 25. Ø, the, Ø, the



Formă: adjectivele limbii engleze sunt invariabile. Ele nu au gen sau
• Notă
Adjectivele demonstrative sunt SINGURA excepŃie. Aceste adjective
sunt variabile. This, that se folosesc su substantive la singular. These,
those se folosesc cu substantive la plural.
This shirt has been ironed. That blouse looks dirty.
These flowers are beautiful. Those bushes need cutting.

PoziŃie: adjectivele sunt aşezate:
1. în faŃa substantivelor.
I’m reading an interesting book.
2. după verbele: be, become, seem, appear, feel, sound, taste, make,
keep, look (= appear), get/turn/grow (= become)
I feel sad.
The weather grew cool.
He makes Janice happy.
3. după un complement direct
Jane found the programme boring.
She painted her nails bright red.
• Notă
Unele dintre aceste verbe pot avea alte sensuri atunci când sunt
determinate de adverbe:
Gladys looked (= appeared) attractive.
Gladys looked (= examined) carefully the price tag.

Tipuri: adjectivele se împart în şase tipuri: calificative, posesive,
interogative, cantitative, demonstrative şi distributive.

1. Adjectivele calificative
Formă: exemple de astfel de adjective sunt: young, empty, small,
spacious, black, elegant, ugly, strong, lonely, intelligent, round, happy
The old man was sitting in the sun.
• Notă
Adjectivele pot fi folosite ca substantive. Ele cer un verb la plural.
The young are often impacient.
• Notă
FaceŃi diferenŃa între little (= mic), little (= nu mult) şi a little (= o
cantitate mică).
She babysits for a little girl.

Fish eat little food.
He lent me a little money.
Participiile prezente (formele în –ing) şi participiile trecute (formele
de tipul –ed) sunt folosite ca adjective calificative. Participiile
prezente au sens activ, iar participiile trecute au sens pasiv.
Participiu prezent

Participiu trecut

The student grew bored during the lecture.
Spielberg’s new film is frightening.
• Notă
Pretty este atât adejectiv cât şi adverb.
Ellie is a pretty girl. (= attractive)
Arnold is pretty rich. (= rather)
• Notă
Adjectivele sunt determinate de adverbe.
Those boots are very tight.
I feel totally exhausted.

Utilizare: adjectivele şi prepoziŃiile
Adjectivele sunt adesea urmate de prepoziŃii.









• Notă
Unele adjective îşi schimbă sensul când primesc o altă prepoziŃie.
Todd is good at algebra. /Todd is good to his sister.
They are always kind to us. / It’s kind of Helen to help.

Când două sau mai multe adjective sunt folosite împreună:
1. adjectivele subiective sau de opinie (boring, lovely, lazy) sunt
aşezate în faŃa adjectivelor obiective sau concrete (old, red,
Ann is an active young lady.
2. adjectivele obiective sau concrete stau în umrătoarea ordine:
dimensiune – vârstă – formă – culoare – origine – material – scop
a small oval plate / an antique French table / a black metal walking
stick / an enormous black steel lifting device
3. după un verb ultimele două adjective sunt legate cu AND.
Sam grew bitter and aggressive.
The bread smelled fresh, fragrant, and appetizing.
ComparaŃia adjectivelor
A. Comparativul şi superlativul adjectivelor se formează:
1. adăugând –er şi –est la sfârşitul:
adjectivelor monosilabice
adjectivelor terminate în –y, -er, -ly

• Notă
Adjectivele de o silabă terminate într-o consoană, dublează consoana:
fat, fatter, fattest
Adjectivele terminate în consoană + y: transfomră pe y în i: pretty,
prettier, prettiest
2. adăugând more şi most înaintea adjectivelor de două sau mai
multe silabe

ComparaŃia regulată

more boring
more excited

ComparaŃia neregulată
Good, well
Much, many


the warmest
the happiest
the cleverest
the most boring
the most excited

the best
the worst
the least
the most
the farthest
the furthest
the oldest
the eldest
the latest
the last
the nearest
the next

• Notă
Good şi well au sensuri diferite:
Beth is good. (= behaves well)
Beth is well. (= she is in good health)
Farther şi further se referă ambele la distanŃă, dar further mai poate
însemna şi în plus / extra

Boston is farther / further than Plymouth.
Further testing will be necessary.
Older şi elder se referă ambele la vârstă, dar elder se foloseşte pentru
relaŃii de familie
The cathedral is the oldest building in town.
Jason is the eldest brother.
The latest înseamnă cel mai recent, the last înseamnă cel final,
The latest news was broadcast five minutes ago.
The last news report is at midnight.
The nearest se referă la distanŃă, the next la timp / cronologie
The nearest hotel is ten miles away.
The next train is leaving in half an hour.

B. pentru a face comparaŃii, folosiŃi:
1. as + adjectiv + as în propoziŃii afirmative pentru a exprima
as/so + adjectiv + as în propoziŃii negative
Your eyesight is as good as mine.
Peter isn’t as/so short as his brother.
2. adjectivul la comparativ + than pentru a exprima diferenŃa
That watch is more expensive than this Timex.
• Notă
Pentru a forma comparaŃii cu substantive, pronume şi verbe în –ing,
folosiŃi prepoziŃia like
He works like a dog.
Try to behave like him.
It’s like talking to a brick wall.

ComparaŃiile pot fi făcute cu more cât şi cu less
Paris is more interesting than Houston.
Houston is less interesting than Paris.


• Notă
Există o diferenŃă între engleza formală şi cea familiară.
Formal: than/as + i/he/she/we/they + verb
Familiar: than/as + me/him/her/us/them
You are as tall as I am.
Bill is older than she is.

You are as tall as me.
Bill is older than her.

• Notă
Când acelaşi verb se repetă în aceeaşi propoziŃie, folosiŃi un auxiliar
pentru al doilea verb.
This CD sounds better than that CD sounds. = This CD sounds better
than that CD does.
3. comparativ + and + comparativ
pentru a exprima creşterea sau descreşterea gradată a calităŃii
The baby is growing bigger and bigger.
I’m feeling more and more irritated with Eric.
4. the + adjectiv la superlativ… + of/in
pentru a exprima superioritatea sau inferioritatea
OF se foloseşte pentru a indica un grup de oameni sau obiecte.
IN se foloseşte pentru a indica un loc.
This is the oldest book in the library.
This book is the best of/in the series.
3. Adjectivele posesive
Formă: adjectivele posesive sunt:
your his/her/its
• Notă
Its este adjectiv posesiv.
It’s este forma contrasă a lui it + is.

Utilizare: adjectivele se folosesc:
1. pentru a face referire la posesor.
I took off my coat.
We drove our car.



2. cu părŃi ale corpului şi haine.
The children washed their hands before dinner.
Jim puts on his new hiking boots.
3. cu own, pentru a întări ideea de posesie.
She cleaned her own room.
• Notă
Adjectivele posesive sunt invariabile. Ele au aceeaşi formă pentru
substantive la singular şi la plural.
My book, my books
his pen, his pens

3. Adjectivele interogative
Formă: Există trei adjective interogative: what, which şi whose
Utilizare: Adjectivele interogative se folosesc astfel:
1. what se foloseşte pentru lucuri:
What book are you reading?
which se foloseşte pentru persoane sau lucuri în cazul unei alegeri
Which book do you prefer?
whose se foloseşte pentru persoane şi exprimă posesia:
Whose car have they borrowed?
• Notă
Adjectivele interogative sunt invariabile. Ele au aceeali formă pentru
substantive la singular şi la plural.
What photo,what photos / which pen,which pens / whose coat,whose
2. whose precedă substantivul pe care îl determină.
Whose cat is this?
Whose bags are over there?
3. când what/which/whose + substantiv joacă rolul de subiect al
unei propoziŃii, verbul este la forma afirmativă.

când what/which/whose + substantiv joacă rolul de complement
al unei propoziŃii, verbul este la forma interogativă.
What team won?
Which train arrived late?
Whose coat lost a button?

What team did you applaud?
Which train did Mary take?
Whose coat did Ben borrow?

4. Adjective cantitative
Formă: adjectivele cantitative sunt: much, many, little, few, some,
any, no şi toate numerele.
Utilizare: A. much, many, little, few
1. many şi few se folosesc cu substantive numărabile.
much şi little se folosec cu substantive nenumărabile.
Many magazines, few inhabitants
Much money, little happines
2. much şi many se folosesc de obicei în propoziŃii negative şi
interogative. În propoziŃii afirmative folosiŃi a lot of, plenty of, a
great deal of, a large number of.
Neagativ şi interogativ
There isn’t much ice in the freezer.
Do you have many friends?
The plum tree has pleanty of plums this year.
3. much şi many se pot combina cu how.
How much money do you need?
How many birds live in that nest?
• Notă
Much şi many se folosesc uneori în propoziŃii afirmative.
Many guests complained.
Much time has been wasted.
• Notă
How much / many + substantiv poate fi subiect sau complement.
Verbul din propoziŃie se modifică în mod corespunzător.

How much money did he take?
How much is missing?
B. some, any, no sunt adesea denumite partitive.
1. some şi any indică o anumită cantitate
no înseamnă nici unele, nici unii, deloc
Se folosesc cu: substantive la plural.
substantive nenumărabile la singular.
There is some bread but no milk in the kitchen.
Have you bought any biscuits?
2. some se foloseşte în:
propoziŃii afirmative
We earned some money picking strawberries.
Întrebări, când se aşteaptă un răspuns afirmativ
Haven’t you lost some buttons on that jacket?
Oferte şi cereri
Would you like some coffee?
3. any se foloseşte în:
propoziŃii negative
I can’t lend you any flour.
PropoziŃii interogative
Does Sarah have any talent?
PropoziŃii subordonate cu if/whether
We don’t know if there are any survivors.
După without
He left for London without any baggage.
PropoziŃii afirmative cu un substantiv la singular, cu sensul de tot,
oricare, indiferent care
Any advice is welcome.
Buy any brand of toothpaste.


4. no se foloseşte în:
propoziŃii afirmative pentru a exprima negaŃia
My husband speaks no Spanish.
No drinks were offered during the flight.
După with
He left for London with no baggage.
• Notă
Some, any, no se combină cu –one, -body, - thing formând cuvintele
compuse: someone, somebody, something, anyone, anybody, anything,
no one, nobody, nothing
Aceste pronume urmează aceleaşi reguli.
Does anyone want to accompany me?
They saw something strange that night.
No one answered the phone.
The test flight took place without anybody on board.

5. Adjectivele demonstrative: this, that, these, those
1. Demonstrativele sunt singurele adjective variabile din limba
engleză. Se acordă în număr cu substantivul determinat.
This rug
these rugs
That tree
those trees
2. This, these se referă la persoane şi lucruri din apropierea
That, those se referă la persoane şi lucruri aflate mai departe de
These pastries are delicious.
This chair is rather uncomfortable.
That airplane is flying too low.
Those clouds look fluffy.


6. Adjective distributive: each, every, all, both, either, neither
Utilizare: A: each, all, every
1. each înseamnă “considerat separat sau individual”. E urmat de
substantiv la singular.
Each child received a prize.
2. all înseamnă “consideraŃi împreună”, ca grup. Substantivele
numărabile care urmează sunt la plural.
All men are created equal.
3. every poate însemna “consideraŃi împreună” sau “consideraŃi
separat”. Urmează un substantiv la singular.
Every girl had a red hair ribbon.
C. both
both înseamnă “amândoi, amândouă”
I’ve read both books.
D. either, neither
either înseamnă “oricare din cei/cele doi/două”. Urmează un
substantiv la singular.
Either dress is suitable for the party.
neither înseamnă “nici unul/una din cei/cele doi/două”. Urmează
un substantiv la singular. Verbul trebuie să fie afirmativ.
Neither dress is suitable for the party.
• Notă
Either … or implică o alegere:
You can have either eggs or bacon for breakfast.
Neither … nor subliniază cele două negaŃii:
Neither women nor children were admitted.
În acest timp de expresie substantivele numărabile sunt la plural.
• Notă
Adjectivele sunt adesea urmate de construcŃii infinitivale.

That’s nice to know!
It was foolish to do that!
We found it easy to memorize.
It is dangerous to ski there.

AlegeŃi forma corectă a adjectivului din paranteză:
1. This is the … book I have read for a long time (good). 2. He has
one of the … cars on the road (fast). 3. The work you are doing today
is … than the work you did yesterday (easy). 4. Ann often wears …
dresses then her mother (expensive). 5. Which is the … play you have
lately read? (interesting). 6. The actress on the stage was the … girl I
have ever seen (striking). 7. Tom is … than his friend (tall). 8. They
have a … garden than ours (lovely). 9. He said this was the … day in
his life (important). 10. He was … than his wife when the child broke
the window (angry). 11. He was the … man in the world to do that
(late). 12. A: ‘Which was your … subject at school and which was
your … (good, bad)?’ B: ‘Physics was my … and history my …
(good, bad).’ 13. Is Bucharest or Prague the … from London (far)? 14.
Tom is 17 years old, his brother Jack is 19 and his sister Jane is 15.
Therefore Jane is the … and Jack is the … (young, old).
AlegeŃi forma corectă a adjectivelor din paranteză:
1. What is the (late) information you’ve got? 2. Her (old) brother is
called Jim. 3. We were in a hurry to catch the (late) bus. 4. Which is
(old) of the two? 5. Who is the (old) member of the students’ club? 6.
They got down to business without (far) delay. 7. I’ve got a still (old)
edition of the dictionary. 8. The (old) sister was twenty years (old)
then the youngest. 9. The (late) half of May was quite rainy. 10. I was
told to wait until (far) notice. 11. I wish I had bought it at the (near)
shop. 12. He provided them with (far) information as agreed. 13. The
(near) station is Calea Victoriei. 14. John’s (late) novel was a (good)
seller and for sure it won’t be his (late) one. 15. He is the (little) writer
of the two. 16. I saw him meet her at the (far) end of the street. 17. I
shall need (far) help with this.


Cheia exerciŃiilor:
1. Best 2. Fastest 3. Easier 4. More expensive 5. Most interesting 6.
Most striking 7. Taller 8. More lovely 9. Most important 10. Angrier
11. Last 12. Best, worst, best, worst 13. Farther 14. Youngest, oldest
1. Latest 2. Elder 3. Last 4. Older 5. Oldest 6. Further 7. Older 8.
Eldest, older 9. Latter 10. Further 11. Nearest 12. Further 13. Next 14.
Latest, best, last 15. Lesser 16. Farthest 17. Further



Pronumele înlocuiesc substantive. Cele şase tipuri de adjective
(calitativ, posesiv, interogativ, cantitativ, demonstrativ, distributiv) au
forme pronominale. Ele urmează în general reguli identice. Există de
asemenea şi pronume personale şi reflexive.
1. Adjective Calificative + one/ones = Pronume
1. adjectiv calificativ + one/ones înlocuieşte un substantiv care a
fost menŃionat mai devreme.
I won’t lend you my new pen. You can borrow my old one.
2. superlativele şi culorile pot fi folosite singure.
Sandra is the best (dancer).
Don’t wear your blue shoes. The black (ones) look better.

2. Pronume Posesive
Formă: pronumele posesive sunt:
Utilizare: pronumele posesive înlocuiesc adjectivele posesive.
Substantivul care lipseşte a fost menŃionat înainte.
This is my book. This book is mine.
Come to my house, not his.

• Notă
Of yours înseamnă one of your + substantiv
Of mine înseamnă one of my + substantiv
John is a friend of ours. = John is one of our friends.

3. Pronume Interogative
Pronumele interogative sunt: who, whom, whose, what, which
Utilizare: pronumele interogative se folosesc astfel:
whom, who
• Notă
Pronumele interogative sunt invariabile. Ele au o singură formă.
Who is that girl?
Who are those men?
• Notă
Which se foloseşte într-un context cu alegere limitată. În rest se
foloseşte what.
What do you see? (poŃi vedea orice)
Which (one) is singing? (care persoană, din grupul respectiv, este cea
care cântă?)
1. pronumele interogative ca SUBIECT
când who, what, whose şi which sunt subiectul unei propoziŃii,
verbul este afirmativ.
Who is calling me?
What happened?
2. pronumele interogative ca şi COMPLEMENT
când who, whom, what, whose, which sunt complementul unei
propoziŃii, verbul este la interogativ.

Whom did you call?
What has he done?
• Notă
În engleza formală whom este folosit ca şi complement obiect direct.
Engleza vorbită îl foloseşte pe who.
Formal: Whom did you see?
Vorbit: Who did you see?
3. pronume
Whom, what, which ca şi complemente prepoziŃionale.
With whom did Meg speak?
In what are you interested?
To which of the two addresses did they send it?
• Notă
Engleza modernă preferă să transfere prepoziŃiile la SFÂRŞITUL
propoziŃiei. În acest caz whom devine who.
Who did Meg speak with?
What are you interested in?
Which of the two addresses did they send it to?
• Notă
What + be? şi what + be … like? Sunt întrebări diferite.
What is Mr. Parker? He is a lawyer.
What is Mr. Parker like? He is short and arrogant.
4. Pronume Cantitative
Pronumele cantitative sunt: much, many, little, few, some, any,
Utilizare: much, many, little, few
1. many şi few înlocuiesc substantive numărabile
much şi little înlocuiesc substantive nenumărabile
Many are called but few are chosen.
He didn’t spend much money. În fact he spent very little.

2. much şi many se folosesc în mod normal în propoziŃii negative şi
interogative. În propoziŃii afirmative folosiŃi a lot/lots sau a great
The baby isn’t eating much. It usually eats a great deal.
Did you buy many books? Yes, I bought lots.
• Notă
Much şi many se pot combina cu how.
How much did it cost?
How many came?

Some, any, none
1. some, any şi none înlocuiesc substantive la plural sau
nenumărabile la singular.
2. some se foloseşte în:
a. propoziŃii afirmative
b. întrebări când se aşteaptă ca răspunsul să fie afirmativ
c. oferte şi cereri
There are deer in the park. We saw some today.
You need some medicine. Did the doctor prescribe you some?
I’ve just lost all my money. Could you lend me some?
3. any se foloseşte în:
a. propoziŃii negative
b. propoziŃii interogative
c. subordonate cu if/whether
d. după without
I meant to buy a dozen eggs but they hadn’t got any.
Aren’t there any in the fridge?
If you see any, let me know.
What about money? He left without any.
4. none se foloseşte în:
a. propoziŃii afirmative pentru a exprima negaŃia
b. după with
If all friends were like Harry, I’d rather have none.
Sam hates carrying suitcases. He travels with none.

• Notă
Pronumele somebody, someone, something, anybody, anyone,
anything, no one, nobody, nothing urmează aceleaşi reguli.

5. Pronumele Demonstrative
Pronumele demonstrative sunt: this, that, these şi those
1. Pronumele demonstrative se acordă în număr cu substantivul pe
care îl înlocuiesc.
This (umbrella) is mine. That is his.
2. this, these se referă la obiecte din preajma vorbitorului.
that, those se referă la obiecte aflate mai departe de vorbitor.
This (one) is here, that (one) is there.
3. this se foloseşte pentru a face prezentările sau la telefon.
Mrs Jones, this is my friend, Alison Hughes.

6. Pronumele Distributive:
Each, all, everyone/everybody, everything, both, either, neither
Utilizare: each, all
1. each înseamnă “consideraŃi individual”. Urmează un verb la
Each chose the colour he preferred.
2. all înseamnă “consideraŃi împreună”. Urmează un verb la plural.
All are welcome.
3. each şi all pot fi urmate de OF + substantiv / pronume.
Each of the boys felt ashamed.
All of the trees are dying.

Everyone, everybody, everything
1. everyone şi everybody înseamnă “toată lumea”
Everybody in the room applauded.
2. everything înseamnă “toate lucrurile”
Everything ended well.

1. both înseamnă “cei doi/cele două”
Both refused the invitation.
2. both poate fi urmat de OF + substantiv / pronume
Both of his grandparents are still living.
• Notă
All şi both se pot folosi pentru a întări subiectul pronominal. În acest
caz ele sunt plasate în faŃa verbului principal.
You have all been very kind to me.
We both came.
Either, neither
1. either înseamnă “unul dintre cei doi”.
neither înseamnă “nici unul dintre cei doi”.
2. either, neither pot fi urmate de OF + substantiv / pronume
Either of you can go.
Neither of the men wanted to do it.

7. Pronume Personale





1. toate verbele limbii engleze (cu excepŃia imperativelor) trebuie să
aibă un subiect pronominal.
They dislike inefficiency.
Come here!
2. complementele pronominale (directe sau indirecte) urmează o
prepoziŃie sau verbul (cu funcŃie de complemente directe sau
I spoke to her yesterday.
We saw them on the beach.
• Notă
De obicei complementul indirect precedă complementul direct.
She sent me a long letter.
După verbe ca: explain, introduce, translate, describe, say, suggest,
Dacă ambele complemente sunt pronume:
Complementul direct este primul iar complementul indirect e introdus
printr-o prepoziŃie.
She sent it to me.
I explained it to them.

3. you şi one sunt folosite impersonal cu sensul de everyone, no one
sau anyone. One are aspect formal. You este frecvent folosit în
engleza vorbită.
You/one should always tell the truth.


4. they este folosit impersonal cu sensul de “lumea spune”, “se zice”
They say he’s dishonest. (= People say he’s dishonest.)
5. it + be se foloseşte:
pentru lucruri sau fiinŃe cu genul necunoscut.
Where’s my book? It is on the shelf.
Cu un substantiv / complement pronominal pentru a se referi la
Who’s at the door? It’s Olivia.
În expresii despre vreme, temperatură, timp, date, distanŃe
It’s cold outside.
What time is it? It’s nine o’clock.
It’s the fourth of July.
How far is it to Chicago? It’s ten miles.
Cu un adjectiv pentru a introduce o subordonată infinitivală
It is difficult to understand her.

8. Pronume Reflexive



• Notă
Există o diferenŃă între yourself şi yourselves.
Did you enjoy yourself at the party?
Did John and you enjoy yourselves at the party?


Utilizare: Pronumele reflexive se folosesc:
1. cu verbe reflexive.
Cele mai frecvente verbe reflexive sunt:
To enjoy oneself, to amuse oneself, to help oneself, to hurt oneself,
to trouble oneself, to cut oneself, to wash oneself
The little boy hurt himself during the game.
Multe verbe care sunt în mod normal reflexive în alte limbi NU
sunt reflexive în engleză. Astfel de verbe sunt: to wash, dress,
comb, shave, meet, etc.
Sue and Brian met last year.
2. cu funcŃie de complemente prepoziŃionale
She looked at herself in the mirror.
Why are you so angry with yourself?
3. pentru întărire
The president himself attended the meeting.
• Notă
By + pronume reflexiv înseamnă singur
Un pronume reflexiv folosit cu un verb nereflexiv înseamnă “fără
ajutorul nimănui”.
I live by myself. = I live alone.
I fixed it myself. = I fixed it without any help.
• Notă
Each other înseamnă reciprocitate între două persoane.

FolosiŃi it sau there, acolo unde e necesar:
1. … is time to go to bed. 2. … is three miles to the Zoo. 3. … is a
long time since I gave up smoking. 4. … is so much work to do that I
haven’t time to think about my own problems. 5. … is time to finish
the cleaning before we go. 6. … is very strange that they should have

arrived at the same time. 7. … is no place like home. 8. … is two
years since they married. 9. … is only a short way now. 10. Don’t eat
that … is a poisonous mushroom. … are many of them in these parts.
11. … is a shame that even today … are so many unkempt gardens
around. 12. … is no time to stop and talk. … is a bus to catch, … is a
fair distance to the stop.
CompletaŃi spaŃiile cu much, many, (a) little, (a) few:
1. The people involved are only as … as half a dozen. 2. Ask … to
have … . 3. … have no record at all. 4. The workers were quite upset;
… threatened to down tools; … chose to go on working. 5. They don’t
give you … for this kind of work, do they? 6. … is being done to lay
their suspicions. 7. What about buses? … are broken down, … are in
good repair. 8. Some go for crisps but quite … go for popcorn in a big
way. 9. A: ‘Anything to drink? The pineapple squash is very nice
indeed.’ B: ‘Yes, please, I’ll have …’. 10. It was quite a shock for all
of them, but … were seriously injured.
FolosiŃi either, neither sau none:
1. a. I like … of the two. b. I don’t like … of the two, they are both too
fanciful for my taste. 2. … was worth mentioning. 3. A: ‘Which of the
two paintings did you buy?’ B:’…’. 4. It doesn’t matter which you
choose. a. I don’t like … b. I like … 5. A: ‘Which of her friends do
you like best?’ B: ‘I like … of them.’ 6. A: ‘Have you seen my
husband or my son?’ B: ‘I’ve seen … of them.’ 8. A: ‘Have you read
the English of the Romanian version?’ B: ‘I haven’t read … of them.’
CompletaŃi spaŃiile goale cu who, whose, whom, which, that:
1. The girl … umbrella you took is raging against you. 2. The apples
… he saw on the table were not big at all. 3. The play … we saw last
week was rather dull. 4. The girl with … you saw me yesterday
studies Spanish. 5. The student to … you were talking looked very
clever. 6. The boys … are playing football under your windows are
brothers. 7. The raft on … he was standing was caught in a whirl. 8.
They have cut down the tree … used to stand here. 9. The only
opponent … can defeat him is Joe Bugner. 10. The only opponent …
he is afraid of is Joe Bugner. 11. The most unusual book … has
appeared this winter is a book on caterpillars. 12. Frank is no the man
… he was. 13. Here’s the man … car was stolen. 14. Is this the box …
you took it out of? 15. It’s library … object is to serve the

neighbouring villages. 16. Everybody … one asks says he is innocent.
17. This is the funniest story … he has written. 18. She is the sort of
girl … will do her best to persuade him. 19. All … they can do is
pacify him. 20. You’re the only man … I’ve ever met … can really
play bridge.

Cheia exerciŃiilor:
1. It 2. It 3. It 4. There 5. There 6. It 7. There 8. It 9. It 10. It, there 11.
It, there 12. There, there, it
1. Few 2. Much, a little 3. Many 4. Many, few 5. Much 6. Little 7.
Few, many 8. Few 9. A little 10. Few
1. Neither, either 2. None 3. Neither 4. Either, neither 5. None 6.
Neither 7. None 8. Either
1. Whose 2. That/which 3. Which/that 4. Whom 5. Whom 6. Who 7.
Which 8. That 9. Who 10. Whom/that 11. That 12. That 13. Whose
14. Which/that 15. Whose 16. (That) 17. (That) 18. That 19. (That) 20.
(That), who



Formă: Adverbele se formează în diferite feluri:
1. unele adverbe sunt cuvinte independente:
often, when?, now, very, soon, always
2. unele adverbe au aceeaşi formă ca adjectivele: daily, early, fast,
low, straight, well, back, enough, far, ill, little, long, pretty, near,
wrong, still, short, late, high, left, right, hard


• Notă
Dintre aceste adverbe, unele au şi o formă în –LY dar sensul este altul:
HardLY = very little
They were highly impatient.
LateLY = recently
It hasn’t rained lately.
NearLY = almost
Dinner is nearly ready.
ShortLY = soon, briefly
Mr. Smith will be here shortly.
PrettiLY = attractively
The baby was prettily dressed.
• Notă
După be, become, feel, get, look, seem, folosiŃi un adjectiv (nu un
She felt happy.
Mrs. Poole looks tired.
3. unel adverbe (în special cele de mod şi grad) se formează
adăugând adjectivelor terminaŃia –LY:
kind, kindly
automatic, automatically
slow, slowly
simple, simply
happy, happily
careful, carefully
• Notă
Adverbul corespunzător lui Good este Well.
• Notă
Unel cuvinte terminate în –LY sunt adjective (nu adverbe)!
Lonely, lovely, likely, friendly, ugly, silly
y final se schimbă în –i:
-e final se păstrează:
dacă se termină în consoană
+ -le, –e dispare şi se adaugă -y:
cuvintelor terminate în –ic
li se adaugă –ally:

merry, merrily (dar shy, shyly)
wise, wisely (dar true, truly)
gentle, gently
scientific, scientifically
(dar public, publicly)



Topica adverbelor variază. Ea depinde în primul rând de tipul de
adverbe folosit. Întărirea poate şi ea afecta topica.
Există trei poziŃii de bază pentru adverbe:
1. la început:
Adverbul e plasat înainte de subiect.
Unfortunately, I couldn’t identify the thief.
2. la sfârşit:
Adverbul este plasat după complement sau, dacă nu există
complement, imediat după verb.
That young man likes Melanie very much.
• Notă
Nu plasaŃi niciodată un adverb între verb şi complement!
I drink coffee slowly. (Nu I drink slowly coffee.)
3. la mijloc:
Adverbul este plasat:
înainte de verbul principal.
He usually comes for tea.
după verbul be.
She is always smiling.
după primul verb auxiliar sau modal.
They have rarely come to visit.
înainte de used to, have to, ought to.
We certainly ought to be more careful.

Tipuri de adverbe
Adverbele se împart în şapte tipuri diferite: de mod, loc, timp,
frecvenŃă, opinie, grad şi interogative.


1. Adverbe de mod
Kindly, easily, well, happily, fast, carefully,
beautifully, reluctantly, foolishly, badly etc.
Adverbele de mod arată CUM se petrece o acŃiune.
PoziŃia lor este:
de obicei la sfârşit, adică după verb şi complement.
Pavarotti sang beautifully.


• Notă
În propoziŃii cu pasivul, WELL şi BADLY sunt plasate înainte de
participiul trecut:
The book was well written.

înainte de verb, DACĂ există un complement lung.
The teacher carefully picked up all the exam papers scattered over
the floor.
Adverbele referitoare la caracter sau inteligenŃă (foolish,
generously, sweetly, kindly, stupidly etc.) îşi schimbă sensul în
funcŃie de poziŃie.
I stupidly replied. (= It was stupid of me to reply.)
I replied stupidly. (= I gave a stupid reply.)

2. Adverbe de loc
Here, up, abroad, out, outside, in, away, everywhere,
somewhere, nowhere, there etc.
Adverbele de loc arată UNDE se petrece acŃiunea.
PoziŃia lor este:
de obicei la sfârşit, adică după verb şi complement.
They went everywhere.
• Notă
Adverbele de loc funcŃionează adesea şi ca prepoziŃii.
Joe ran down the stairs.

• Notă
HERE / THERE + be / come / go + subiect substantiv:
There’s Henry! Here comes the train!
HERE / THERE + subiect pronume + be / come / go:
There he is! Here it comes!

3. Adverbe de timp
Yesterday, now, afterwards, still, soon, eventually, then, today,
at once, till, tomorrow, since then etc.
Adverbele de timp arată CÂND se petrece acŃiunea.
PoziŃia lor este:
de obicei la început (înaintea subiectului) sau la sfârşit (după
verb şi complement).
Tomorrow will begin the next lesson.
cu imperative: la sfârşit
Do it now!
Cu YET: la sfârşit
YET se foloseşte mai ales la negativ şi interogativ. Înseamnă
“până acum”.
Mr Jones hasn’t finished yet.
Have you asked him yet?
Cu STILL: după BE şi înaintea tuturor celorlalte verbe.
STILL se foloseşte la afirmativ, negativ, şi interogativ. El
subliniază continuarea unei situaŃii / stări de fapt.
Stephanie is still unwell.
Cu ALREADY: după BE sau primul auxiliar şi înainte de verbul
ALREADY se foloseşte mai ales la afirmativ. Înseamnă “deja”.
He is already fifteen years old.


• Notă
Since then se foloseşte cu timpurile perfecte.
We haven’t seen the Nelsons since then.
• Notă
De obicei adverbele au următoarea ordine:
The baby slept well yesterday.
Mark worked hard at school last year.

4. Adverbe de frecvenŃă
Always, usually, never, ever, hardly ever, often, twice, once,
continually, seldom, rarely, periodically etc.
Adverbele de frecvenŃă arată CÂT DE DES se petrece o acŃiune.
PoziŃia lor este:
de obicei la mijloc, adică:
înainte de verbul principal şi have to, used to, ought to
după verbul BE şi primul auxiliar.
You can sometimes park over there.
The little girls are always playing dolls.
Continually, frequently, occasionally, once, twice, often,
sometimes, normally şi repeatedly pot fi plasate şi la sfârşit (după
verb şi complement) sau la început (înainte de subiect):
He comes to see us often.
Repeatedly, the pupils made the same mistake.
Expresiile adverbiale de frecvenŃă (every day, once a month) sunt
plasate la sfârşit sau început:
Our children walk to school every morning.

NEVER se foloseşte cu verbe afirmative. Înseamnă “niciodată”.
I have never been to Japan.


EVER se foloseşte în special în propoziŃii interogative sau
superlative. Înseamnă “oricând / vreodată”.
Has Ted ever studied statistics?
Jack Gallagher is the best player we have ever had.
I haven’t ever read Pinter. = I have never read Pinter.

5. Adverbele de opinie
Personally, obviously, frankly, certainly, luckily, actually,
probably, definitely, surely etc.
Adverbele de opinie exprimă opinia vorbitorului.
Aceste adverbe se pot împărŃi în două grupuri:
a. actually, certainly, apparently, clearly, obviously, probably,
definitely, undoubtedly.
PoziŃia adverbelor din grupul A este la mijloc:
The child is actually very bright.
b. perhaps, maybe, possibly, frankly, naturally,
unluckily, honestly, fortunately, unfortunately.


PoziŃia adverbelor din grupul B este de obicei la început:
Perhaps we can go out tonight.
6. Adverbe de grad
Fairly, quite, hardly, too, almost, pretty, rather, barely,
completely, enough, nearly, really, just, so, even, very etc.
Adverbele de grad determină în general adjective sau adverbe care
indică extinderea sau intensitatea (gradul).
PoziŃia lor este:
în mod normal chiar înaintea adjectivului sau adverbului.
He is entirely right.
The shoes are too wide.

ENOUGH urmează după adjectiv sau adverb.
My steak isn’t big enough.

ENOUGH stă înaintea unui substantiv:
We don’t have enough money.
Adverbele de grad determină uneori verbe. O listă parŃială
include: almost, barely, enough, hardly, just, only, much, a lot,
nearly, quite, rather, really, scarcely.
PoziŃia lor este înainte de verbul principal.
MUCH şi ENOUGH sunt excepŃii şi urmează după verb.
JUST şi ONLY se află exact înaintea verbului determinat.
They could barely hear the speaker.
The pianist hasn’t practiced enough.
I liked him a lot.
I have just deposited the money. (= I deposited it a little while
I deposited just the money. (= I deposited the money and nothing
• Notă
VERY se foloseşte cu adjective şi adverbe.
VERY MUCH se foloseşte cu verbe.
We are very happy to be here.
Thank you very much.
• Notă
QUITE poate însemna şi “complet”.
You’re quite right! (= You’re completely right.)

ComparaŃi sensurile a cinci adverbe de grad folosite cu
adjective şi adverbe.






The boxer is fairly strong. (= he is moderately strong.)
Your cake is pretty good. (= it is certainly not bad.)
That music is quite loud. (= it is considerably loud.)
Your result is very good. (= it is close to excellent.)

7. Adverbe interogative
When?, where?, why?, how?
Adverbele interogative se folosesc în întrebări.
PoziŃia lor este la început, înaintea auxiliarului, subiectului şi
verbului principal.
Why is Cindy crying?
Where does she teach?
When did they send the letter?
How do you spell your name?

HOW poate fi folosit cu:
How tall is he?
Much / many:
How much milk does she drink?
How often does Chris go dancing?

ComparaŃia adverbelor
Formă: comparativul şi superlativul adverbelor se formează:
1. adăugând –er şi –est adverbelor de o silabă
2. punând, more şi most în faŃa adverbelor de două sau mai
multe silabe


more slowly

Early – earlier – the earliest
Comparative neregulate

the fastest
the most slowly

the best
the worst
the least
the most
the farthest/furthest

Farther / farthest se referă numai la distanŃă
He ran farther than planned.
Further / furthest se foloseşte mai mult în general.
He inquired further into the matter.
Utilizare: pentru a construi comparaŃii adverbiale, folosiŃi:
1. AS + adverb + AS în propoziŃii afirmative pentru a exprima
AS/SO + adverb + AS în propoziŃii negative.
Pam Hardy ran as fast as she could.
The puppy doesn’t eat as/so well as I hopped.
2. adverbul COMPARATIV + THAN pentru a exprima
Eric writes better than Brian.
3. THE + adverb SUPERLATIV pentru a exprima superioritatea
(sau inferioritatea). THE este adesea omis. Superlativul poate
fi urmat de OF + substantiv / pronume.
He plays tennis (the) best of all.
Dan skied (the) fastest (of all the racers).

• Notă
Când acelaşi verb apare în ambele părŃi ale propoziŃiei, folosiŃi un
auxiliar pentru cel de-al doilea verb. Astfel evitaŃi repetiŃia.
I don’t think as much as you do.

Anumite adverbe sau expresii adverbiale pot fi plasate la început
pentru întărire. Subiectul şi verbul care umează se inversează.
Iată o listă parŃială a adverbelor şi expresiilor adverbiale care se pot
folosi astfel: in/under no circumstances, neither/nor, never, no sooner
… then, not only, only by, only in this way, only lately, only then, little,
so, seldom, on no account.
Only in this way can you master the language.
On no account is Jody to turn on the gas.
Seldom have I met such a fascinating woman.

AlegeŃi cuvântul potrivit:
1. You are an excellent cook. The food tastes (good, well). 2. It was a
lovely day with birds singing and the sun shining (bright, brightly) and
girls wearing (bright, brightly)- coloured dresses. 3. I hate taking
medicine. It tastes (bitter, bitterly). 4. I don’t think he is ill. His voice
sounds (merry, merrily). 5. It rains (heavy, heavily). 6. It is (near,
nearly) five o’clock. 7. You must work (hard, hardly) for your exams.
8. He spoke so (quick, quickly) that we could (hard, hardly) follow
him. 9. When did you (last, lastly) see him? 10. I am (direct, directly)
interested in what you think. 11. He couldn’t move as he was (dead,
deadly) tired. 12. His eyes hurt him (bad, badly). 13. Mr Jones held it
(tight, tightly). 14. It was six o’clock as (near, nearly) as he could
guess. 15. (last, lastly) I must account for my sister’s behaviour.
PuneŃi adverbele în ordinea corectă:
1. Tim and Becky had been wandering (for many hours, about the
cave). 2. Jim was to recite his poem (that very morning, in the centre
of the examination hall). 3. Though I was very busy I snatched a
minute to answer his letter (yesterday, at the office). 4. Tom, Huck
and Joe decided to run away (at daybreak, from home). 5. I wish I
were (now, over there). 6. They returned (in the evening, to the camp,

late). 7. I had the pleasure of meeting a fine woman of about fifty (the
other day, in New York, here). 8. My brothers and my husband will be
(soon, home) from the shooting. 9. Bathing is very good, when the sea
is mostly calm (here, in summer). 10. The great fire broke out, and
aided by the east wind, burnt down the wooden houses of which a
large proportion of the town was built (in 1666, in London, in a
baker’s shop, in September).

Cheia exerciŃiilor:
1. Good. 2. Bright, brightly-coloured 3. Bitter 4. Merry 5. Heavily 6.
Nearly 7. Hard 8. Quickly, hardly 9. Last 10. Directly 11. Dead 12.
Badly 13. Tight / tightly 14. Near 15. Lastly
1. Tim and Becky had been wandering about the cave for many hours
2. Jim was to recite a poem in the centre of the examination hall that
very morning 3. Though I was very busy at the office yesterday, I
snatched a minute to answer his letter 4. Tom, Huck and Joe decided
to run away from home at daybreak 5. I wish I were over there now 6.
They returned to the camp late in the evening 7. The other day, here
in New York, I had the pleasure of meeting a fine woman of about
fifty. 8. My brothers and my husband will be home soon from the
shooting. 9. Bathing is very good here, in summer, when the sea is
mostly calm. 10. The great fire broke out in a baker’s shop in London
in September 1666 and aided by the east wind, burnt down the
wooden houses of which a large proportion of the town was built.