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CONTENS
Lesson 1
Lesson 2
Lesson 3
WHOLESALING
TEAMWORK IN ORGANISATIONS
Lesson 6
MANAGER TYPES
Lesson 7
GRAMMAR
Lesson 8
BUSINESS LETERS
VOCABULARY
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LESSON 1
SUPPLY, DEMAND, PRICE AND COMPETITION
LEAD-IN
1. What forms of competition do you know?
2. What determines the price of a product?
3. Explain the demand for a particular product.
4. Explain the supply of a particular product.
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price of that product. In pure competition, sellers and buyers must accept the going
price. But who determines the price? Actually, everyone does. The price of each
product is determined by the actions of all buyers and sellers together, through the
forces of supply and demand. It is this interaction of buyers and sellers, working for
their best interest, that Adam Smith referred to as the "invisible hand" of competition.
The supply of a particular product is the quantity of the product that producers
are willing to sell at each of various prices. Supply is thus a relationship between
prices and the quantity offered by producers.
The demand for a particular product is the quantity that buyers are willing to
purchase at each of various prices. Demand is thus a relationship between prices and
the quantities purchased by buyers. Buyers, too, are usually rational, so we would
expect them as a group to buy more of a product when its price is low and to buy
less of the product when its price is high. Under pure competition, the market price of
any product is the price at which the quantity demanded is exactly equal to the
quantity supplied.
In theory and in the real market, prices are affected by anything that affects
supply and demand. Other changes that can affect competitive prices are shifts in
buyer tastes, the development of new products that satisfy old needs and fluctuations
in income due to inflation or recession.
Many real market, however, are examples of monopolistic competition.
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Monopolistic competition is a market situation in which there are many buyers along
with relatively many sellers who differentiate their product from the products of
competitors, by providing unique product features an attention-getting brand name,
unique packing or
services such as free delivery or a lifetime warranty. By differentiating its product
from all similar products, the producer obtains some limited control over the market
price of its product.
An oligopoly is a market situation (or industry) in which there are few sellers.
Generally, these sellers are quite large, and sizable investments are required to enter
into their market. Examples of oligopolistic industries are the American automobile,
industrial chemicals and oil refining industries.
Because there are few sellers in an oligopoly, each seller has considerable control
over price. At the same time, the market actions of each seller can have a strong effect
on competitors sales. If one firm reduces its price, the other firms in the industry
usually do the same to retain their market shares. This usually results in similar prices
for similar products.
A monopoly is a market (or industry) with only one seller. Because only one
firm is the supplier of a product, it has complete control over price.
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VOCABULARY
auction = licitatie
demand = cerere de bunuri, servicii
sales revenue = venit obtinut din vanzari, cifra de afaceri
public utilities = servicii utilitare
shift = schimbare; modificare
to operate = a functiona
to purchase = a achizitiona
needs = nevoi; trebuinte
income = venit
inflation = inflatie
to develop = a desface; a patrunde (pe o piata, pe un segment de piata)
market = piata
supplier = furnizor
competition = competitie; concurenta
buyers = comparator
seller = vanzator
productivity = productivitate
employees = anjaja
goods = bunuri
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LESSON 2
WHAT COMMERCE IS ABOUT
As a human activity commerce is concerned with the study of trade i.e. the
moving of the goods from the seller to the buyer and the aids to trade, of the
business units which provide goods and services.
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The goods are almost always produced far away from the place of consumption and
their way from the producer to the consumer is long and very complicated. Therefore,
it is the function of commerce to offer a link between the stages of this process and
the necessary instruments to make it work.
Trade is the basic commercial activity. It is essentially the exchange of goods
and services between producers and consumers. Trade consists of home/domestic
trade
including wholesale trade and retail trade, and foreign/overseas trade dealing with
import and export trade.
But commerce includes more other functions in addition to trade. Distribution
involves getting goods from the manufacturer to the consumer. Without sophisticated
systems for storing goods and selling them to the consumers, it would be impossible
for firms to find customers for their goods.
Banking and financial services offered by banks and other institutions assist
commerce by providing loans and other services which allow business to function and
invest in future production, and enable consumers to purchase goods and services.
Communications, in both written and electronic form, allow firms to order and
sell their goods efficiently and cheaply. No transaction is possible without
communications.
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Insurance allows risks to be taken without fear of loss. It gives security and
stability to commerce as it enables the business people to survive losses by damage,
fire, burglary etc. Without adequate insurance many enterprises would be too risky to
undertake.
Advertising also plays an important part as it enables firms to let prospective
customers know their offer. It includes a wide range of forms from hand-distributed
leaflets to highly sophisticated television commercials.
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commercial_____________,
trade________________,
provide_______________,
home
to
foreign
trade_________________,
enable_______________,
aid____________,
to
to
3. In each of the following questions there is only one right answer. Explain
the meaning of your answer .
A. Mass production is possible only if:
a. there is a wide market for increased production.
b. customers will pay a high price for the product.
c. the raw materials required are found locally.
d. a lot of unskilled workers live near the factories.
B.The term producer refers to one who:
a. provides raw materials or food.
b. grows crops or manufactures goods.
c. adds value to a product.
d. advertises goods or services for sale.
C. Which one of these statements is false?
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d)
The
work
provided
for
others
as
an
occupation
or
business...
e)Items
such
as
food
or
clothing
produced
for
the
final
consumer..
f)
Items
meant
to
be
used
in
producing
other
products
g) The rate at which goods are sold and restocked.
h) Any specific market where consumers buy goods, such as a shop, a store, a
merchant, an agency, an open-air stall..
i) An accumulated supply of goods; to keep a supply of goods.
j)A raw material such as grain, cocoa, coffee, wool, cotton, rubber/ a good
regarded
in
economics
as
the
basic
of
production
and
exchange.
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4. Our company has always been able to forecast what their customers want.
(succeed)
5. Im delighted our sales have been much higher this month said the Managing
Director to the Sales Manager. (congratulate)
6. The shopkeeper is very pleased when his customers are satisfied. (take pleasure)
9. The companys manager is confident that the bank will give him a credit to extend
the chain stores. (depend)
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VOCABULARY
aid = ajutor, mijloc
consumption = consum
link = veriga, legatura
therefore = asadar, deci
exchange = schimb
home/domestic trade = comert interior
foreign/overseas trade = comert exterior
wholesale trade = comert angro
retail trade = comert cu amanuntul
to deal with = a se ocupa cu
loan = imprumut
in addition to = in plus, pe langa
to involve = a presupune, a implica
to store = a depozita
warehouse = deposit
producer = producator
consumer = consumator
customer = client
to assist = a ajuta
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LESSON 3
WHOLESALING
OBJESCIVES : After studying this lesson , you should be able to:
o understand the concepts of wholesaler and retailer;
o comprehend the relation between manufacturer - wholesaler - retailer;
o
understand haw can the wholesalers influence the price on the competitives
markets.
LEAD-IN
1. Is the distribution of goods as important as the production of them? Why? Give
your reasons.
2. Is the wholesaler a necessary link in the distribution chain?
3. What is the wholesalers fundamental role?
4. What types of wholesaler do you know? Mention some of them.
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Types of wholesaler :
Consumer goods wholesalers. They may be general stockists or concentrate on a
particular item. A large number are cash-and-carry warehouses which do not deliver
the goods or offer credit. Cutting out the costs of these services allows them to offer
very competitive prices.
Industrial wholesalers. They are involved in distributing producer goods such as
raw materials, components and machinery. These involve sales to firms rather than
retailers, and are important to the economy.
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may help the manufacturers cash flow by holding reserve stocks of goods, especially
helpful where there is seasonal demand.
Provides services for the retailer. The wholesaler enables the retailers to buy in
small quantities as the latter have limited storage space and credit. The wholesaler
holds available stocks and may provide credit terms.
Provides market information. Through contact with retailers and manufacturers,
the wholesaler learns a lot about the demand for different products. The retailer learns
about new products and suppliers from the wholesalers displays and sales literature.
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1. The minister of labour agreed that he would meet the union leaders.
The minister of labour agreed.. the union leaders.
2. He claimed that he had expertise in such matters.
He claimed in such matters.
3. The chairman threatened that he would resign if his policies were not adopted.
The chairman threatened.if his policies were not adopted.
4. The management promised that they would raise the workers pay.
The management promised the workers pay.
5. They couldnt guarantee that they would meet all their customers demands.
They couldnt guarantee.. all their customers demands.
6. The sales manager resolved that he would increase the turnover next year.
The sales manager resolved..the turnover next year.
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nu intra niciodata in posesia marfurilor (to take possession of), ci doar (merely) preia
comenzile (to take orders) pe care producatorul sau furnizorul le executa (to fill)
direct catre client.
VOCABULARY
manufacturer = producator
wholesaler = angrosist
retailer = detailist
in bulk = in vrac
to break bulk = a desface marfa
consumer goods = bunuri de larg consum
cash-and-carry = vanzare cu plata in numerar
warehouse = depozit
to cut out = a reduce
raw material = materie prima
producer goods = bunuri de investitii
machinery = masini industriale
produce = produs (agricol); produse agricole
to save = a economisi, a cruta
to pack = a ambala
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delivery = livrare
cash flow = flux monetar
seasonal demand = cerere sezoniera
credit terms = conditii de credit
display = expunere, prezentare, expozitie
to by-pass = a ocoli
to fill an order = a executa o comanda
drop shipper = angrosist care nu preia marfurile, ci se ocupa numai de executarea
comenzilor
to take possession of = a intra in posesie
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LESSON 4
ASPECTS OF MANAGEMENT
LEAD-IN
1.What does the term management mean to you?
2. Do you consider that the role of the manager changes according to time and place
or is it a universal one?
3. How old is the preoccupation of mankind with management?
The term management is one of the most widely used nowadays and as such
we might expect that all those who use it have a quick definition at hand.
For most people management mean:
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achievements, offer rewards and incentives, and take advantage of all opportunities.
3) He considered that survival was the main objectives of any organisation and no
matter what measures were taken to achieves this end, they should be taken. The end
justifies the means is the slogan that Machiavelli launched on the political market.
The Industrial Revolution changed not only the nature of production, but also
society as a whole. Greater productivity gradually raised the standard of material
comforts by introducing countless new products and services into an expanding
market. From these basic experiments a system of management thought developed
which came to be known as scientific management.
Frederick W. Taylor, in his book Principles of Scientific Management he
argued that work should be studied and analysed in a systematic and throughout way.
The way of doing a job will no longer be according to tradition or quesswork, but
according to scientific methods worked out by management for producing the best
results with a minimum effort. He warned people against confusing techniques with
aims.
The following principles were suggested by him to guide management:
1) each worker should have a large, clearly defined, daily task;
2) standard conditions are needed to ensure the task is more easily accomplished;
3) high payment should be made for successful completion of tasks. Workers should
suffer loss when they fail to meet the standards laid down.
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Henry Fayol, said managers depended less upon technical knowledge of what
they were managing and more on a knowledge of administration. He emphasised the
role of administrative management and concluded that all activities that occur in
business organisations could be divided into six main groups:
1) Technical (production, manufacturing).
2) Commercial (buying, selling, exchange).
3) Financial (obtaining and using capital).
4) Security (protection of property and persons).
5) Accounting (balance sheet, stocktaking, statistics, costing).
6) Managerial (planning, organising, commanding, coordinating, controlling).
Fayols main contribution was the idea that management was not an inborn
talent but a skill that could be taught
Max Weber describes the bureaucracy, wich is defined as an organizational
model rationally designed to perform complex tasks efficiently.
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GRAMMAR ADJECTIVE
One-syllable adjectives
Adjectives ending in -y
Irregular adjectives***
Adjective
old
Comparative
older
Superlative
the oldest
safe
safer
the safest
big
bigger
the biggest*
hot
hotter
the hottest*
noisy
noisier
the noisiest
dirty
dirtier
the dirtiest
boring
more boring
beautiful
good
better
the best
bad
worse
the worst
far
farther
the farthest
* Adjectives which end in one vowel and one consonant double the consonant.
** We add -r/-st to adjectives that end with -e.
*** Note that we usually use fewer with plural nouns and less with uncountable
nouns (e.g. money):
There are fewer shops in the centre of the town than there used to be.
John earns less money that Mary.
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objectives,
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and strategies for obtaining and using resources to achieve those goals.
..
e) The process used to accomplish organizational goals through planning,
organizing,
directing,
and
controlling
organizational
resources..
f) Level of management which includes plant managers and department heads
who are responsible for tactical plans
g) Specific, short-term statements detailing how to achieve the organizational
goals
h) Highest level of management, consisting of the president and other key
company executives who develop strategic plans..
3. Write sentences to bring out the difference between the following pairs
of words:
a. efficiency effectiveness
b. economic economical
c. reach rich
d. empire umpire
e. ensure insure
f. practise practice
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4. Fill in the following table with the appropriate form of the adjective:
good
better
the best
worse
the worse
late
..
the last
wet
..
older
the oldest
the luckiest
narrow
..........................
polutted
..
..
the least
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4. I have to leave home. you do. You dont get to the office until nine,
but sometimes I start before 7.30 in the morning.
5. We have to continue our talk. we discuss the matter, the more I
realize the potential of this new plan.
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VOCABULARY
to entail = a determina, necesita, impune
scarce = redus, diminua
waste = pierdere, irosire
emerging = in curs de formare/aparitie
outstanding = distins, remarcabil
scalar = ierarhic, scalar
to acquire = a dobandi, a capata
thorough = minutios, meticulos, amanuntit
pathbreaking = deschizator de drumuri
balance sheet = bilant contabil
goal = tinta, scop
rewards = recompense
aim = tinta, tel, scop
consent = consimtamant
skill = talent, ingeniozitate
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LESSON 5
TEAMWORK IN ORGANISATIONS
LEAD-IN
1. Do you belong to a particular group of people? If yes, what are the features that
distinguish your group from another?
2. Why do people feel the need of belonging to a certain group?
3. What makes us call a number of people a group?
4. Do you think that the terms group and team cover an identical meaning?
Teamwork has become one of the buzz words of the last twenty years or so.
Students are often assigned to teams to do classwork, in which case the purpose is to
perform the assignment and receive an acceptable grade. Job advertisements require
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applicants with a capacity to work in teams. A team is a unit of two or more people
who interact and coordinate their work to accomplish a specific objective. The team
concept
implies a greater sense of mission and contest, although the words can be used
interchangeably. A team is more than just a group with a common aim. It is a group in
which the contributions of individuals are seen as complementary. Collaboration,
working together, contributing to a sequence of activities rather than to a common
task require people to be at the same time, in the same place, are elements that
characterize a good effective team.
The factors that influence team effectiveness begin with the organizational
context. The organizational context includes such factors as: structure, strategy,
environment, culture. Leaders must understand and manage stages of development,
norms and conflict in order to establish an effective team. For a team to be successful
over the long run it must be structured so as to both maintain its members social well
being and accomplish the teams task. In successful teams, the requirements for task
performance and social satisfaction are met by the emergence of two types of roles:
task specialist and socioemotional role.
People who play the task specialist role spend time and energy helping the team
reach its goal. They often display the following behaviours: initiation, give/offer
opinions on task solutions, give feedback on others suggestions, seek information,
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pull ideas together into a summary perspective, stimulate the team into action when
interest drops.
People who adopt a socioemotional role support team members emotional
needs and help strengthen the social entity. They display the following behaviours:
encourage (are warm and receptive to others ideas), reconcile group conflicts, reduce
tension, compromise (will shift own opinions to maintain team harmony).
Teams with mostly socioemotional roles can be very satisfying, but they also can be
unproductive.
Teams may have positive impact on both the output productivity and
satisfaction of members. On the other hand, teams may also create situations in which
motivation and performance are actually decreased.
Research has found that working in a team increases an individuals motivation and
performances. Simply being in the presence of other peoples has an energising effect,
enhancing individual productivity, through the increased effort of its members.
Employees have need for belonging and affiliation. Teams often increase the
employees feeling of dignity and self-worth because the whole person is employed.
The third major benefit of using teams is that employees also have the
intellectual resources of several members who can suggest short-cuts and offer
alternative points of view for team decisions.
Potential disadvantages of using teams are power realignment, free riding and
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the
best
strategies
and
tactics
to
achieve
organizational
objectives.
d) Management function which involves checking to determine whether or not
an organization is progressing toward its goals and objectives, and taking corrective
action if it is not.
e) Management function which involve designing the organizational structure,
attracting people to the organization (staffing), and creating conditions and systems
that ensure that everyone and everything work together to achieve the objectives of
the organization................................
f) Management style which involves employees in setting objectives and
making decisions; democratic and laissez-faire leadership are forms of this type of
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management..
g) Ability to lead, communicate, motivate, coach, build morale, train, support
and delegate..
3. Are the words printed in italics in the correct place? If not, move them
to a correct place.
a. The secretary has not yet answered my fax.
_____________________________________
b. Always I forget to give you my homework.
____________________________________
c. Ruxandra has since noon been on the phone.
_____________________________________
d. The new executive secretary is extremely good at dealing with problems quickly.
___________________________________________________________________
e. Antonia quite types well actually.
_________________________________
f. He has lately been very busy.
________________________
g. We cant anyway leave yet, its too early.
_____________________________________
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VOCABULARY
Buz word = cuvant de mare circulatie
To accomplish = a realiza, a indeplini
In the long run = in timp
To pull (ideas) together = a concentra
To draw forth = a pune in evidenta, a stimula
To shift = a schimba, a modifica
Short-cut = scurtatura, varianta mai eficienta
Individual productivity = productivitate individuala
Applicant = solicitant, candidat
Environment = mediu (de afaceri, de colaborare etc)
Initiation = initiativa
Seek information = cautare de informatii
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LESSON 6
MANAGER TYPES
1. In small groups discuss which of the following qualities are more likely to
characterize todays top manager:
- charismatic/efficient
- thrilling/disciplined/business like
- visionary/pragmatic
- glamorous looks/business looks
2. Discuss which of the following statements are closer to your idea of the managers
role in todays business world:
A good manager should be an exceptionally intelligent, flamboyant and charismatic
person who is able to communicate his/her vision to his/her team
Good managers need not be geniuses highly admired by their employees, but rather
effective, accountable organisers able to examine carefully and make the best
judjments in order to improve the profitability of their company.
Successful managers are exceptional human beings, with the necessary drive that
enables them to build (multi)national conglomerates
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3. Qualities of managers
1. approachable,
2. articulate
3. assertive
4. committed
5. communicative
6. competitive
7. consistent
8. cooperative
9. creative
10. decisive
11. discreet
12. honest
13. intelligent
14. loyal
15. patient
16. practical
17. rational
18. reliable
19. responsible
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20. sensitive
21. sincere
22. skilled
23. supportive
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LESSON 7
GRAMMAR
Present tens simple
Present tens simple
I, We,You, They + V1
He, she, it + V1 -s
- es
He goes to the bank
everyday
We receive invoices
daily.
S + V-ed
Did + S + V1 ?
S + didnt + V1.
V2
We played tennis a week Did you play tennis a week I didnt play tennis last week.
ago.
ago?
I didnt go to USA last year
We went to USA last Did you go to USA last year for for a meeting.
year for a meeting.
a meeting?
We use past tense simple to express an action in the past: yesterday, a week ago, last night,
last week, last month, summer, year, on Monday- in 2008.
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S + havent + V3
S + hasnt + V3.
Just
Yet
Yet
Already
Already (surprise)
The Boards of Directors Have they decided to fire the They havent decided yet to
have already decided to accountant already?
fire her.
fire the accountant.
- We use present perfect to express a finish action when you think of the EFFECT of
the action in the present (and you dont say exactly when the action was finished)
- It is often used with these words to express a finished action connected with the
present : already, just, yet.
Past continuous
To be(present) + V1 + -ing
To be(past) + V1 + -ing
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Teamwork has become one of the most The manager has been working at a new
important motivational ways.
project.
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Future simple
Future simple
I, we + shall + V1
He, she, it, you, they + will + V1
The manager will buy laptops for all employs.
It is used with words like : tomorrow, next day, next week, next year.
Grammar review
ASPECT
TENSE
Present
Past
Present
Future
perfect
SIMPLE
yesterday
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CONTINOUS
have
been
writing
hour.
I
have
been
reports
writing
SINCE
oclock.
Reported speech
Direct speech
Indirect speech
Present
Past
Past perfect
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Future
Imperative
Infinitive
If clauses rules
Prop. conditionala (if.)
Prop. Principala
Present simple
Present simple/future
will + v / wont + v
Past simple
Present conditional
would + v / wouldnt + v
Past perfect
Past conditional
Examples:
Daca nu te grabesti, pierzi trenul.
If you dont hurry, you miss the train.
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Must
A: I had to go away on business last week A: You must go to the bank today.
N: You dont have to go
Allowed to
to
and
can
express
permission
Not allowed, cant and mustnt express
a prohibition.
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LESSON 8
BUSINESS LETTERS
1. Enquiry
2. Offer
3. Order
4. Status inquiry
5. Reply to status inquiries
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Dear Sirs,
We are one of the leading importers and distributors for the electronic industry.
We trust there is a huge market potential and would kindly ask you to let us have your
catalogues and price list.
We hope to establish lasting business cooperation.
We look forward to hearing from you.
Yours faithfully,
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Yours sincerely,
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Dear Sirs,
Thank you for your offer of 30th November 2007.
Please ship to us the goods described below.
See shipping instructions and conditions on the reverse side of this order. If you can
not fill this order as stated, notify us at once.
Please acknowledge receipt of this order by return.
Failure to comply with instructions on this order makes you liable for any additional
expenses incurred.
Quantity
55
Articles
Price
Automatic
480$
Yours faithfully,
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Dear Sirs,
We have received a very large order from Brawn & Co. Company.
As we have not done business with this firm until now, we should be grateful if you
would send us some details about them. We are particularly interested in receiving
information about their solvency and their reliability, as they have requested a credit
of $ 20,000.
We shall be pleased to render you a similar service at any time.
We enclose a stamped addressed envelope for your reply.
Yours faithfully,
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Dear Sir,
We refer to your inquiry for information of April 15th 2008, about Brawn & Co.
Company.
We have done business with them for some years, but only to the extent of $4,000 at
one time. Within this limit they have met their engagement regularly, but we have no
idea haw they might act if credit were extended to a larger amount.
This information is given at your request and without any responsibility on our part.
Yours faithfully,
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VOCABULARY
bankruptcy = faliment
emerging markets = noi piete, piete nou aparute
currency crash = prabusirea monedei
bank run = retragere masiva a depunerilor dintro banca
over-valued exchange rate = curs valutar supraevaluat
havoc = haos
pegged to the American dollar = determinate in functie de dolarul american
appreciation/depreciation = apreciere/depreciere (a unei monede)
banking fraud = frauda bancara
interest-rate ceiling = plafonul la care se fixeaza rata dobanzii
bank insolvency = insolvabilitate bancara
lender of last resort = imprumutator de ultima instanta
deregulation = descentralizare, liberalizare a unui sector economic
to mint = a bate moneda
to take off = a luat startul, a se declansa
to cut the cost = a reduce costul
fee = onorariu, commission
manufacturer = producator
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wholesaler = angrosist
retailer = detailist
in bulk = in vrac
to break bulk = a desface marfa
consumer goods = bunuri de larg consum
warehouse = depozit
to cut out = a reduce
raw material = materie prima
producer goods = bunuri de investitii
machinery = masni industriale
to save = a economisi
cash flow = flux monetar
seasonal demand = cerere sezoniera
credit terms = conditii de credit
to by-pass = a ocoli
to fill an order = a executa o comanda
Annual Report = raport anual
Company Secretary = secretar general
debenture = obligatiune
share capital = capital social
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chairman = presedinte
one-man business = intreprindere individuala
partenership = societate de persoae
minutes = proces verbal
invoice = factura
public company = societate anonima
balance sheet = bilant
parteners = asociati
shares = actiuni
stock exchange = bursa de valori
stock market = bursa (se refera la tranzactiile care au loc la bursa)
Annual General Meeting = Adunare Generala
overheads = cheltuieli generale
financial software = program financiar
word processor = processor de text
executives = functionari
delivery network = retea de distributie
charges = tarife
teleshoping = cumparaturi la domociliu
official figures = cifre oficiale
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