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universitatea

"CONSTANTIN BRNCOVEANU"
PITETI

LIDIA SCURTU
RAMONA CHIU

MIHAELA BURSUGIU
ANDREEA STROIE

BUSINESS ENGLISH
LIMBA ENGLEZ
PENTRU AFACERI

Editura Independena Economic


2008

Limba englez pentru afaceri

Contribuia autorilor:
Scurtu Lidia:
Bursugiu Mihaela:
Chiu Ramona:
Stroie Andreea:

cap. 15, 16, 17, 22, 23, 26, 27, 28


cap. 18, 19, 20, 21, 24, 25
cap. 8, 9, 10, 11, 12, 13, 14
cap. 1, 2, 3, 4, 5, 6, 7

Editura Independena Economic


Calea Bascovului nr. 2A, Piteti
Tel./Fax: 0248/21.64.27
Editur acreditat de ctre C.N.C.S.I.S.
ISBN: 978-973-7732-83-5

Copyright Editura Independena Economic 2008


Toate drepturile rezervate. Nici un fragment din aceast carte nu poate
fi reprodus, prin orice mijloace, fr permisiunea scris a Editurii.

Descrierea CIP a Bibliotecii aionale a Romniei


Business English : limba englez pentru afaceri / Lidia
Scurtu, Mihaela Bursugiu, Ramona Chiu, Andreea
Stroie. - Piteti : Independena Economic, 2008
Bibliogr.
ISBN 978-973-7732-83-5
I. Scurtu, Lidia
II. Bursugiu, Mihaela
III. Chiu, Ramona
IV. Stroie, Andreea
811.111:336

Tehnoredactare i procesare computerizat n laboratoarele


de informatic ale Universitii Constantin Brncoveanu

CUPRINS
Foreword .......................................................................................... 7
UNIT 1
GLOBALIZATION AND COMPLEXITY......................................... 9
VOCABULARY ......................................................................... 11
GRAMMAR............................................................................... 11
DISCUSSION ........................................................................... 12
UNIT 2
THE SECTORS OF ECONOMY .................................................. 14
VOCABULARY ......................................................................... 15
GRAMMAR............................................................................... 16
DISCUSSION ........................................................................... 16
UNIT 3
MANAGEMENT: AN ART OR A SCIENCE ? ............................. 18
VOCABULARY ......................................................................... 20
GRAMMAR............................................................................... 20
DISCUSSION ........................................................................... 21
UNIT 4
MARKETING ............................................................................... 23
VOCABULARY ......................................................................... 25
GRAMMAR............................................................................... 25
DISCUSSION ........................................................................... 26
UNIT 5
TYPES OF COMPANIES............................................................. 28
VOCABULARY ......................................................................... 30
GRAMMAR............................................................................... 30
DISCUSSION ........................................................................... 31
UNIT 6
WORK AND MOTIVATION.......................................................... 33
VOCABULARY ......................................................................... 34
GRAMMAR............................................................................... 35
DISCUSSION ........................................................................... 35
UNIT 7
PRODUCTION ............................................................................. 37
VOCABULARY ......................................................................... 39
GRAMMAR............................................................................... 39
DISCUSSION ........................................................................... 39
3

UNIT 8
PRICING POLICY ........................................................................ 41
VOCABULARY ......................................................................... 42
GRAMMAR............................................................................... 43
DISCUSSION ........................................................................... 45
UNIT 9
PROMOTIONAL TOOLS ............................................................. 47
VOCABULARY ......................................................................... 49
GRAMMAR............................................................................... 49
DISCUSSION ........................................................................... 49
UNIT 10
ACCOUNTING AND BOOKKEEPING ........................................ 52
VOCABULARY ......................................................................... 54
GRAMMAR............................................................................... 54
DISCUSSION ........................................................................... 55
UNIT 11
THE BUSINESS CYCLE.............................................................. 57
VOCABULARY ......................................................................... 58
GRAMMAR............................................................................... 58
DISCUSSION ........................................................................... 59
UNIT 12
INFLATION AND DEFLATION .................................................... 61
VOCABULARY ......................................................................... 63
GRAMMAR............................................................................... 63
DISCUSSION ........................................................................... 64
UNIT 13
DISTRIBUTION WHOLESALE AND RETAIL .......................... 66
VOCABULARY ......................................................................... 68
GRAMMAR............................................................................... 68
DISCUSSION ........................................................................... 70
UNIT 14
INTERNATIONAL TRADE........................................................... 72
VOCABULARY ......................................................................... 73
DISCUSSION ........................................................................... 74
UNIT 15
HUMAN RESOURCES MANAGEMENT ..................................... 76
VOCABULARY ......................................................................... 77
DISCUSSION ........................................................................... 77

UNIT 16
EMPLOYMENT FILE ................................................................... 80
VOCABULARY ......................................................................... 83
GRAMMAR............................................................................... 83
DISCUSSION ........................................................................... 84
UNIT 17
JOB INTERVIEWS....................................................................... 86
VOCABULARY ......................................................................... 88
GRAMMAR............................................................................... 89
DISCUSSION ........................................................................... 90
UNIT 18
INQUIRIES FOR GOODS .......................................................... 92
VOCABULARY ......................................................................... 94
DISCUSSION ........................................................................... 95
UNIT 19
OFFERS....................................................................................... 98
VOCABULARY ....................................................................... 100
DISCUSSION ......................................................................... 101
UNIT 20
ORDERS.................................................................................... 104
VOCABULARY ....................................................................... 107
DISCUSSION ......................................................................... 108
UNIT 21
COMPLAINT LETTERS, ADJUSTMENT LETTERS
AND REMINDERS ..................................................................... 110
VOCABULARY ....................................................................... 114
DISCUSSION ......................................................................... 114
UNIT 22
FRANCHISING .......................................................................... 116
VOCABULARY ....................................................................... 117
GRAMMAR............................................................................. 118
DISCUSSION ......................................................................... 118
UNIT 23
LEASING ................................................................................... 120
VOCABULARY ....................................................................... 121
DISCUSSION ......................................................................... 122
UNIT 24
INSTRUMENTS OF PAYMENT ................................................. 125
VOCABULARY ....................................................................... 131
DISCUSSION ......................................................................... 132
5

UNIT 25
METHODS OF PAYMENT......................................................... 135
VOCABULARY ....................................................................... 141
DISCUSSION ......................................................................... 142
UNIT 26
BILLS OF LADING; WAY BILLS .............................................. 146
VOCABULARY ....................................................................... 148
DISCUSSION ......................................................................... 148
UNIT 27
INSURANCE .............................................................................. 151
VOCABULARY ....................................................................... 153
DISCUSSION ......................................................................... 153
UNIT 28
MARINE INSURANCE............................................................... 157
VOCABULARY ....................................................................... 160
DISCCUSION ......................................................................... 161

LIST OF IRREGULAR VERBS.................................................. 164


PUNCTUATION MARKS ........................................................... 168
BRITISH AND AMERICAN WEIGHTS AND MEASURES ....... 172
MODEL OF TESTS.................................................................... 173
BIBLIOGRAPHY........................................................................ 178

Foreword
Limba englez pentru afaceri are ca scop familiarizarea
cursanilor cu elemente importante din limbajul economic i de afaceri.
Lucrarea conine un numr de 28 de uniti concepute i
structurate astfel nct lexicul de profil i gramatica limbii engleze s
fie fixate gradual i corect.
Fiecare capitol este subdivizat pe probleme de studiu,
cuprinznd modele de scrisori i documente comerciale, vocabular i
exerciii aplicative menite s formeze aptitudinile de comunicare n
engleza de afaceri, oral i scris. Cursantului i se ofer posibilitatea
de a produce scrisori i documente comerciale proprii pe baza
modelelor i textelor studiate.
La sfritul crii gsim lista celor mai importante verbe
neregulate, o list a abrevierilor, a unitilor de msur engleze i
americane, precum i modele de teste de evaluare care s vin n
ntmpinarea examenelor finale ale studenilor.
Cartea ajut la o mai bun nsuire a expresiilor ideomatice cu
numeroase aplicaii n practic prin exerciii de traducere din i n
limba englez de afaceri.
Pe tot parcursul crii se insist pe folosirea lexicului i a
expresiilor n contact real de afaceri.
De asemenea sunt dezvoltate tehnici specializate de comunicare
n vederea unui transfer natural, uor accesibil de informaii n limba
englez de afaceri, comunicarea devenind astfel eficient i operativ.

Autoarele

UNIT 1

GLOBALIZATION AND COMPLEXITY


Globalization is an enormously interactive, social process, in which people,
albeit often unwittingly, increasingly interrelate through complex
international financial and investment institutions, extensive trade and
production networks, sophisticated modes of communication, all within
changing global cultural and ethical parameters.
Capital is mobile: investors can move funds around the globe in search of
the highest economic return, with scant regard for national borders or
national needs. A complex, global, social order is emergent, as nation states
are integrated into the international economy, in spite of local social
priorities being subordinated to global economic exigencies. This order is
dynamic and unpredictable, though not chaotic; patterns of relationships
emerge, although there is no apparent trend towards a steady state, or
something which might be called equilibrium.
Globalization is one of the key forces that are reshaping the world of
business today. It continues to be clouded by controversy however.
Supporters of globalization consider it the answer to the social, political, and
economic ills afflicting developing countries. Critics, on the other hand,
argue that it creates inequalities, causes hundreds of jobs to be lost, and
opens up businesses to many new risks. But whether globalization is, in fact,
a threat or an opportunity, business executives around the world agree that it
is here to stay. The only issue that concerns them is no longer whether to
accept or reject it, but rather how they could adapt to it. As globalization
becomes widely recognized not only as an important business issue but a
top priority as well, support for it gets stronger through the years.
Economic globalization is not just a present-day phenomenon. It became
common practice several years back when organizations armed with
advanced technology, made transacting business globally easier and quicker.
Today, the global business environment is substantially more complex than
before and accepting that complexity is an inevitable by-product of
globalization, it is obvious that, as businesses get bigger, they really get
more complex and they are going to need more management and more
systems of management. So, in some ways, complexity is inevitable.
Business complexity is increasing due to two kinds of factors: commercial
activities that can be managed and add value to a business, and other
factors, such as geopolitical forces, that can only be influenced but not
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managed. Most CEOs have taken the following commercial actions (in
order of importance) over the past three years to create value: launching of
new products and services, extending operations to new territories, forming
strategic alliances, outsourcing functions to third parties, localizing business
processes, engaging in mergers and acquisitions, and offshoring functions
within the organization. And since these commercial activities are also
considered to add value, most CEOs have done more than one.
For organizations seeking to grow through globalization, dealing with and
managing complexity are top priorities and as managing complexity has
become the order of the day among CEOs, the capability to do this is now a
much sought-after quality.
Notwithstanding the many challenges to its pursuit, CEOs continue to see
globalization as one of the primary avenues for successfully growing a
business or achieving economic development. As such, support for it is
getting stronger. In fact, many CEOs express optimism that the integration
of economies around the world will have a positive impact on their
organizations while remaining realistic about its potentials and risks.
As to the issue of rising business complexity, CEOs believe that it is the
result of a blend of commercial activities and geopolitical forces. Managing
these factors must be on the list - preferably on top of it - of the things that
businesses going global should do.
As a conclusion, the whole is bigger than the sum of the parts, a whole
which becomes ever more diversified, qualitatively evolving towards greater
complexity. And globalization, the process of integrating billions of
individuals, each uniquely endowed with tastes and talents, through global
markets, can only serve to widen individuals possible choices. Progress is
not a reflection of globalization or localization, but mobilization. And action
to promote development and progress is not a question of controlling
individuals to compete within free markets, nor institutionally managing
individuals to co-operate within managed markets, but actively facilitating
people to organize and empower themselves to participate in the social
organization to promote human dignity. The creative process of building an
emerging, global society, to reflect changing human potentials. People need
to act locally but think globally.

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VOCABULARY
albeit (conj.)
unwittingly (adv.)
scant (adj.)
ills (subst.)
by-product (subst.)
to emerge (verb)
merger (subst.)
acquisition (subst.)
notwithstanding (prep.)
pursuit (subst.)
CEO
to outsource (verb)

Offshore

= cu toate ca, desi


= inconstient, involuntary, fara stiinta
= rar, limitat, neinsemnat
= nenorocire
= produs secundar
= a se ridica, a aparea, a reiesi
= absorbtie; fuziune (de societati etc.)
= achizitie
= in ciuda; (adv.) = cu toate acestea, totusi
= urmarire; ocupatie; preocupare
= Chief Executive Officer
= the practice of contracting with an outside
company in order to provide a service or product
that otherwise might be too expensive,
complicated, or time-consuming for the
institution to do internally; to obtain components
for a product from sources outside the company;
to have a service performed or a function
completed by others outside of a company.
= when used in this context, and when
referring to a country, means a jurisdiction that
offers financial secrecy laws in an effort to
attract investment from outside its borders.
When referring to a financial institution,
"offshore" refers to a financial institution that
primarily offers its services to persons
domiciled outside the jurisdiction of the
country in which the financial institution is
organized.

GRAMMAR
The Present Tense Simple is used for:
repeated actions and daily routines in the present:
He goes to the office every day.
permanent states:
He works in this factory.
general truths and laws of nature:
It rarely rains in the desert.
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official programmes (trains, planes etc.):


The plane to London takes off at 6.30.
exclamations:
Here comes the manager! Here he comes!
sports commentaries, experiments/recipes, narration:
Hill kicks the ball and passes it to Dawson.
I now mix eggs and flour and then I add some water.
So, the secretary tells him .

DISCUSSIO%
1) Enlarge on:
a) The definition of globalization.
b) What does mobile capital mean?
c) What is the opinion of globalizations supporters?
d) What are critics arguments against globalization?
e) Enumerate some of the commercial actions taken by CEOs worldwide.
2) Fill in the blanks with suitable words from the box:
social, order, lives, how, society, though, complexity
Progress implies fulfilling human potentials, the realization of which
improves peoples ; and development strategies are intended to change
modes of interaction, so as to facilitate progress and the fulfillment of
individuals evolving potentials. When applied to the analysis of progress
and development, theory has to explain why, even large numbers of
individuals interact within a changing global, ordered patterns of social
behaviour emerge and evolve. There is a social feedback mechanism, in
which people learn, and choose to modify their activity to better fulfil
their potentials within social parameters and processes of governance which
maintain social .
3) Put the verbs in brackets in the Simple Present:
a) I (think) he (be) right.
b) They always (work) in the morning.
c) He (run) the company very well.
d) You (think) it (be) the best idea?
e) Each of us (have) a business file on our desks.
f) She (love) profitable stock.
g) Water (boil) at 100 degrees C.
h) Jones (run) down the pitch and (pass) the ball to Smith.
i) The train to Paris (leave) the station at 7.
j) Where he (get) such saving ideas from?
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4) Translate into Romanian:


What is the difference between Internationalization, Localization and Globalization ?
The Localization Industry Standards Association (LISA) uses the following definitions:
Internationalization - designing and enabling a product for
international distribution and customer support.
Localization - adapting a product so that it meets linguistic, content,
cultural, and system requirements.
Globalization - integrating localization as an enterprise-wide strategy.
Companies that adopt an Internationalization policy develop their products so that
they can be sold worldwide with little or no change to the design and packaging.
Localization is typically used to adapt existing products to new global markets.
When Internationalization is not feasible, then companies look towards Globalization.
5) Translate the following into English:
Globalizarea constituie, fr ndoial, marea sfidare a zilelor noastre. Cine
nu particip la procesul globalizrii este pierdut. Dar, cum se poate
supravieui ntr-o economie supus globalizrii ? Pare destul de simplu: cine
este mai puternic, cine este mai rapid... . Globalizarea economiei nu este un
proces nou, primele sale simptome aprnd cu mult timp n urm. Desigur
c, n fazele sale incipiente, procesul nu a cunoscut amploarea din zilele
noastre. n evoluia sa, globalizarea a parcurs etape istorice distincte,
devenind la sfritul secolului XX un concept cheie.
Lumea actual a afacerilor se sprijin pe expansiunea pieelor la nivel
global. Are loc astfel, trecerea treptat de la economia internaional la
economia global. Principalii actori ai acestei noi economii, o economie
interconectat, devin corporaiile transnaionale. Amplificarea i
diversificarea relaiilor economice internaionale de dup ncheierea celei
de-a doua conflagraii mondiale au permis n special celor mai dezvoltate
ri capitaliste s realizeze o expansiune economic semnificativ, avnd
corporaiile transnaionale drept vectori ai reprezentrii intereselor lor.
6) Explain the following proverbs on globalization:
You dont help the worlds poor by dressing up in a turtle outfit and
throwing a stone through McDonalds window. You help them by getting
them the tools and institutions to help themselves. Thomas L. Friedman
(New York Times columnist)
People dont change when you tell them there is a better option. They
change when they conclude they have no other option. Michael
Mandelbaum (Professor of American Foreign Policy at The Johns Hopkins
School of Advanced International Studies in Washington, DC)

13

UNIT 2

THE SECTORS OF ECONOMY


A nations economy can be divided into various sectors to define the proportion
of the population engaged in the activity sector. This categorization is seen as a
continuum of distance from the natural environment. The continuum starts with
the primary sector, which concerns itself with the utilization of raw materials
from the earth such as agriculture and mining. From there, the distance from the
raw materials of the earth increases.
Primary Sector
The primary sector of the economy extracts or harvests products from the earth.
The primary sector includes the production of raw material and basic foods.
Activities associated with the primary sector include agriculture (both
subsistence and commercial), mining, forestry, farming, grazing, hunting and
gathering, fishing, and quarrying. The packaging and processing of the raw
material associated with this sector is also considered to be part of this sector.
In developed and developing countries, a decreasing proportion of workers
are involved in the primary sector. About 3% of the U.S. labor force is
engaged in primary sector activity today, while more than two-thirds of the
labour force were primary sector workers in the mid-nineteenth century.
Secondary Sector
The secondary sector of the economy manufactures finished goods. All of
manufacturing, processing, and construction lies within the secondary
sector. Activities associated with the secondary sector include metal
working and smelting, automobile production, textile production, chemical
and engineering industries, aerospace manufacturing, energy utilities,
engineering, breweries and bottlers, construction, and shipbuilding.
Tertiary Sector
The tertiary sector of the economy is the service industry. This sector provides
services to the general population and to businesses. Activities associated with
this sector include retail and wholesale sales, transportation and distribution,
entertainment (movies, television, radio, music, theatre, etc.), restaurants,
clerical services, media, tourism, insurance, banking, healthcare, and law.
In most developed and developing countries, a growing proportion of
workers are devoted to the tertiary sector. In the U.S., more than 80% of the
labor force are tertiary workers.
Quaternary Sector
The quaternary sector of the economy consists of intellectual activities.
Activities associated with this sector include government, culture, libraries,
scientific research, education, and information technology.
14

Quinary Sector
Some consider there to be a branch of the quaternary sector called the
quinary sector, which includes the highest levels of decision making in a
society or economy. This sector would include the top executives or
officials in such fields as government, science, universities, nonprofit,
healthcare, culture, and the media.
An Australian source relates that the quinary sector in Australia refers to
domestic activities such as those performed by stay-at-home parents or
homemakers. These activities are typically not measured by monetary
amounts but it is important to recognize these activities in contribution to
the economy.
Formal & Informal Sectors
Economic activities declared to the government make up the formal sector
of the economy. Undeclared economic activity makes up the informal
(shadow) sector of the economy.
Traditional & Modern Sectors
The Traditional sector refers to established age-old procedures eg
agriculture methods and common land ownership.
The Modern sector refers to a system based on specialisation, commuting,
use of latest technologies
Many urban areas in developing countries are dualistic:
- Modern formal activity exists side by side with large informal sector:
- Traditional manufacturing may exist next door to modern manufacturing;
- Commercial farms may exist alongside subsistence family holdings.
Urbanisation occurs when an increasing proportion of the population live in
cities, towns or suburbs. Cities are attractive to potential migrants because
they offer the prospect of:
- Higher standards of living;
- Access to a well-developed infrastructure eg health and education;
- Geographically proximate market for products, labour, and capital.

VOCABULARY
to harvest (verb)
subsistence (subst.)
to graze (verb)
to quarry (verb)
to smelt (verb)
retail (subst.)
wholesale (subst.)

= a secera, a recolta
= trai, existenta
= a paste, a pasuna
= a extrage (pietre etc.) dintr-o cariera
= a topi (un minereu); a separa prin topire un metal
= vanzare cu amanuntul
= vanzare en-gros
15

quaternary (adj.)
homemaker (subst.)
to commute (verb)
continuum (subst.)

quinary (adj.)

= cuaternar
= gospodar; stapanul casei
= a schimba un lucru cu altul, a inlocui
= smth. that is the same throughout or consists
of a series of variations or of a sequence of
things in regular order
= referring to a group of five, fivefold, the
number five

GRAMMAR
The Present Tense Continuous is used for:
actions taking place now:
Helen is taking down notes in her agenda now/right now/at the moment.
actions that one has already arranged to do in the near future, especially
when the time and place have been decided (personal programmes):
Mr.Brown is visiting the new headquarters
this afternoon/this
Saturday/tonight/today.
temporary actions:
I usually go to work by car, but today/this week/these days I am walking.
actions that happen too often and annoy the speaker:
Youre always/forever forgetting to pay the bills.
Youre forgetting to pay the bills all the time.
changing or developing situations:
More and more fields are developing due to modern technology.

DISCUSSIO%
1) Enlarge on:
a) What types of activities are included in the primary sector?
b) What types of activities lie within the secondary sector?
c) What types of activities are specific to the tertiary sector?
d) What are the activities in the quaternary sector?
e) What activities does the quinary sector comprise?
f) What is the difference between the formal and informal sector?
g) What do the traditional and modern sectors refer to?
2) Find synonyms to the following words:
sector, continuum, to develop, labour, field, method, tertiary, to commute,
subsistence, proximate

16

3) Ask questions to which the words in italics are the answers:


Model: They are cleaning the office.
What are they cleaning?
a) We are working on an interesting project.
b) Everyone is helping in this initiative.
c) She is dusting the furniture in the managers office .
d) They are selling new shares.
e) My brother is now heading for the newly-built factory.
f) The workers are going on a strike today.
4) Translate into Romanian:
In the context of economy sectors, development implies structural
transformation. The relative importance of agriculture in the economy
declines, ie there is a transition from peasant to commercial farming.
However, many countries place a high value on preserving a traditional way
of farming life (such as the EU). Countries with a comparative advantage in
agriculture should benefit from specialisation, especially in high value
added products; eg Bulgaria and Chile have benefited from becoming wine
producers exporting around the world.
Structural change occurs when the relative share of GDP and employment accounted
for by the primary, secondary and tertiary sectors change. Structural change results in
a change in GDP and employment figures for a given sector or industry.
The process of development requires structural change. Typically economies
develop by shifting resources from agriculture & mining to manufacturing and
eventually into the tertiary (services) sector. Anyway, economic growth requires
structural change in the economy, eg a movement of workers from low value
added agricultural sector to higher value added manufacturing and service sectors.
5) Translate the following into English:
A. Economia romneasc se aliniaz din ce n ce mai evident la standardele
pieelor internaionale, tot mai multe companii din variate sectoare
economice trecnd printr-un amplu proces de retehnologizare ce presupune
modernizarea sistemelor, inclusiv a celor informatice.
B. Dintre domeniile economice analizate si propuse a fi locomotive ale
exporturilor romanesti, singurul caruia i se prevad in prezent sanse reale de
reusita este cel al industriei de software.
C. Sectorul IMM din Romania este poate cel mai afectat, datorit orientrii
reduse ctre activiti productive.
6) Discussion:
If you have a job, what is the economic sector it belongs to?
Speak about the sector of economy you would like to work in.
17

UNIT 3

MANAGEMENT: AN ART OR A SCIENCE ?


Good managers are made not born. If you have the desire and willpower,
you can become an effective manager. Good managers develop through a
never ending process of self-study, education, training, and experience.
Imagine you are a manager.
To inspire your workers into higher levels of teamwork, there are certain
things you must be, know, and, do. These do not come naturally, but are
acquired through continual work and study. Good managers are continually
working and studying to improve their management skills; they are NOT
resting on their laurels.
Management is a process by which a person influences others to accomplish
an objective and directs the organization in a way that makes it more
cohesive and coherent. Managers carry out this process by applying their
leadership attributes, such as beliefs, values, ethics, character, knowledge,
and skills.
Some personality traits may lead people naturally into leadership
roles. This is the Trait Theory.
A crisis or important event may cause a person to rise to the
occasion, which brings out extraordinary leadership qualities in an
ordinary person. This is the Great Events Theory.
People can choose to become managers. People can learn
management skills. This is the Transformational Leadership Theory,
the most widely accepted theory today.
Respected managers concentrate on what they are [be] (such as beliefs and
character), what they know (such as job, tasks, and human nature), and what
they do (such as implementing, motivating, and provide direction). People
want to be guided by those they respect and who have a clear sense of
direction. To gain respect, they must be ethical. A sense of direction is
achieved by conveying a strong vision of the future.
To help you be, know, and do, follow these eleven principles of management:
1. Know yourself and seek self-improvement - In order to know
yourself, you have to understand your be, know, and do, attributes.
Seeking self-improvement means continually strengthening your
attributes. This can be accomplished through self-study, formal
classes, reflection, and interacting with others;
18

2. Be technically proficient - As a leader, you must know your job and


have a solid familiarity with your employees' task;
3. Seek responsibility and take responsibility for your actions Search for ways to guide your organization to new heights. And
when things go wrong, they always do sooner or later - do not blame
others. Analyze the situation, take corrective action, and move on to
the next challenge;
4. Make sound and timely decisions - Use good problem solving,
decision making, and planning tools;
5. Set the example - Be a good role model for your employees. They
must not only hear what they are expected to do, but also see. We
must become the change we want to see- Mahatma Gandhi;
6. Know your people and look out for their well-being - Know
human nature and the importance of sincerely caring for your
workers;
7. Keep your workers informed - Know how to communicate with
not only them, but also seniors and other key people;
8. Develop a sense of responsibility in your workers - Help to
develop good character traits that will help them carry out their
professional responsibilities;
9. Ensure that tasks are understood, supervised, and accomplished
- Communication is the key to this responsibility;
10. Train as a team - Although many so called leaders call their
organization, department, section, etc. a team, they are not really
teams...they are just a group of people doing their jobs;
11. Use the full capabilities of your organization - By developing a
team spirit, you will be able to employ your organization,
department, section, etc. to its fullest capabilities.
BE/K%OW/DO
BE a professional. Examples: Be loyal to the organization, perform selfless
service, take personal responsibility.
BE a professional who possesses good character traits. Examples: Honesty,
competence, candour, commitment, integrity, courage, straightforwardness,
imagination.
KOW the four factors of leadership - follower, leader, communication,
situation.
KOW yourself. Examples: strengths and weaknesses of your character,
knowledge, and skills.

19

KOW human nature. Examples: Human needs, emotions, and how people
respond to stress.
KOW your job. Examples: be proficient and be able to train others in their tasks.
KOW your organization. Examples: where to go for help, its climate and
culture, who the unofficial leaders are.
DO provide direction. Examples: goal setting, problem solving, decision
making, planning.
DO implement. Examples: communicating, coordinating, supervising, evaluating.
DO motivate. Examples: develop moral and esprit in the organization, train,
coach, counsel.

VOCABULARY
to acquire (verb)
cohesive (adj.)
trait (subst.)
to convey (verb)
to strengthen (verb)
sound (adj.)
timely (adj.)
selfless (adj.)
straightforwardness (subst.)
proficient (adj.)
esprit (subst.)

= a dobandi, a-si forma


= coeziv; legat; strans (inlantuit)
= trasatura (de caracter etc.)
= a transporta, a duce; a transmite, a exprima
= a (se) intari, a (se) fortifica, a (se) consolida
= sanatos; solid; logic
= oportun
= altruist
= abilitatea de a fi cinstit, deschis
= specialist la, priceput la (cu prep. in)
= vioiciune, agerime

GRAMMAR
The Present Perfect Simple Tense is used:
to describe an action which started in the past and continues up to
the present, especially with state verbs such as: have, like, know, be
etc. in this case we often use for (duration) and since (starting
point):
They have been office colleagues for twenty years.
for an action which has recently finished and whose result is visible
in the present:
She has visited a lot of foreign organizations.
for an action which happened at an unstated time in the past:
Peter has been to the Paris Business Conference four times.
for an action which has happened within a specific time period,
which is not over at the moment of speaking:
The
secretary
has
received
three
faxes
today/this
morning/afternoon/week/month/year etc.
20

The Present Perfect Continuous Tense is used:


to put emphasis on the duration of an action which started in the past
and continues up to the present:
The broker has been speaking for two hours.
for an action which started and finished in the past and lasted for
some time. The result is visible in the present:
He is tired. He has been typing a lot of financial reports.
to express anger, annoyance, irritation:
Who has been reading my business papers?

DISCUSSIO%
1) Enlarge on:
a) What is management?
b) Enumerate leadership attributes.
c) Explain the eleven management principles briefly.
d) What are the things a respected manager must be, know and do?
2) Find antonyms to the following words:
effective, to improve, to direct, clear, strong, courage, unofficial,
selfless, to know
3) Use the Present Perfect Simple and Continuous with the verbs in
brackets:
a) They (not see) their partners for ten days.
b) I (to send) him various files many times.
c) I never (meet) him before.
d) We (wait) for the president since 4 oclock, but he (not come) yet.
e) We (talk) about progress for hours. Everything (to change) a lot lately.
f) She (register) the papers since two oclock. I think we should not disturb her.
g) I am very tired. I (work) too hard in the past weeks.
h) I already (apply) for this position twice.
4) Translate the following management quotes:
The most important quality in a leader is that of being acknowledged as
such. - Andre Maurois
You gain strength, courage and confidence by every experience in which
you really stop to look fear in the face. You must do the thing you think
you cannot do. - Eleanor Roosevelt
Whoever is careless with the truth in small matters cannot be trusted with
the important matters. - Albert Einstein
21

Dictators ride to and fro upon tigers which they dare not dismount. And
the tigers are getting hungry. - Winston Churchill
Unless commitment is made, there are only promises and hopes... but no
plans. - Peter Drucker
And when we think we lead, we are most led. - Lord Byron
5) Translate the following into English:
Managementul modern a inceput sa implice un mare numr de abiliti i
orientri, dintre care multe presupun abiliti legate de statistic, utilizarea
tehnologiei informaiei, contabilitate i matematic. Managementul a pus
intotdeauna accent pe rezolvarea raional a problemelor i pe gndirea
logic. Cum managementul implic n mod necesar oameni, este de o mare
importan deinerea de abiliti interpersonale abilitatea de a lucra cu
indivizii, dar i cu echipe de lucru. Pentru a avea succes, un manager a
trebuit tot timpul s ndeplineasc mai multe roluri i funcii.
Domeniul managementului se intersecteaz cu un mare numr de discipline
tiine sociale, logic, filozofie, matematic, tehnologie informatic, relaii
internaionale, lingvistic i cultur. Pentru a fi bine pregtit, viitorul
manager are nevoie de un bagaj bogat de cunotine din domenii variate i
de abiliti care s i permit s ndeplineasc o serie de funcii; toate acestea
l vor ajuta s i mbunteasc din punct de vedere calitativ deciziile i
abilitile.
6) Discussion
Find examples of good and bad managers and speak about their success
and/or failure.

22

UNIT 4

MARKETING
Marketing is a social and managerial function associated with the process of
researching, developing, promoting, selling, and distributing a product or
service. Another definition, perhaps simpler and more universal, is this:
"Marketing is the ongoing process of moving people closer to making a decision
to purchase, use, follow...or conform to someone else's products, services or
values. Simply, if it doesn't facilitate a "sale" then it's not marketing."
The practice of marketing is almost as old as humanity itself. Whenever a
person has an item or is capable of performing a service, and he or she seeks
another person who might want that item or service, that person is involved in
marketing. A market was originally simply a gathering place where people with
a supply of items or capacity to perform a service could meet with those who
might desire the items or services, perhaps at a pre-arranged time.
Such meetings embodied all the aspects of today's marketing methods,
although in an informal way.
Prior to the advent of market research, most companies were product-focused,
employing teams of salespeople to push their products into or onto the market,
regardless of market desire. A market-focused, or customer-focused
organization instead first determines what its potential customers desire, and
then builds the product or service. Marketing theory and practice is justified
on the belief that customers use a product/service because they have a need, or
because a product/service has a perceived benefit.
Prior to the advent of market research, most companies were product-focused,
employing teams of salespeople to push their products into or onto the market,
regardless of market desire. A market-focused, or customer-focused,
organization instead first determines what its potential customers desire, and
then builds the product or service. Marketing theory and practice is justified
on the belief that customers use a product/service because they have a need, or
because a product/service has a perceived benefit.
These are the four Ps which are often referred to as the marketing mix:
Product: The Product management and Product marketing aspects of
marketing deal with the specifications of the actual good or service, and
how it relates to the end-user's needs and wants.
Pricing: This refers to the process of setting a price for a product,
including discounts.
23

Promotion: This includes advertising, sales promotion, publicity, and


personal selling, and refers to the various methods of promoting the
product, brand, or company.
Placement or distribution refers to how the product gets to the customer;
for example, point of sale placement or retailing. This fourth P has also
sometimes been called Place, referring to where a product or service is
sold, e.g. in which geographic region or industry, to which segment
(young adults, families, business people, women, men, etc.).
Advertising and promotions
Businesses need to advertise for the following four main reasons:
To raise customer awareness.
To remind customers about existing facilities.
To persuade customers to switch from rival businesses.
To improve and maintain the image of the business.
The ultimate aim of these points is to attract more customers. The places
businesses will advertise from depend on three things:
Their audience.
The size of their market.
The size of their advertising budget.
Forms of Advertising and their advantages and disadvantages:
Print
Newspapers and Magazines
Advantages - A lot of information is known about the people who read
certain papers
Disadvantages - Often not in colour and are static and silent
Posters and Billboards
Advantages - High visual impact for a long time and will be seen by a lot
of different people
Disadvantages - Are only seen for a few seconds by drivers and are
vulnerable to weather and graffiti
Yellow Pages
Advantages - Anyone looking in the Yellow Pages wants to buy
Disadvantages - A lot of your competitors are on the same page you are
Media
Television
Advantages - Can reach millions of people all over the country
Disadvantages - Very expensive
Radio
Advantages - Cheaper than T.V, can be used to reach certain listeners
Disadvantages - Sound only, smaller audiences

24

Cinemas
Advantages - Very high visual and sound effect, captive audience
Disadvantages - Are relatively expensive
Communications
Leaflets and junk mail
Advantages - Cheap to produce and distribute
Disadvantages - Are easy to ignore
Telephone
Advantages - Direct to customer, interactive, receive instant feed back.
Disadvantages - Makes some customers feel their privacy has been
violated, sometimes has negative results.
Websites
Advantages - High visual impact, interactive and can link directly to
buying the product, is relatively cheap
Disadvantages - There is a lot of competition so getting people's attention
may be difficult, needs to be continually updated, can become expensive

VOCABULARY
ongoing (adj.)
item (subst.)
supply (subst.)
to embody (verb)
prior (to) (adj.)
advent (subst.)
end-user (subst.)
brand (subst.)
business (subst.)
leaflet (subst.)
billboard (subst.)

= continuu, neintrerupt
= articol, obiect
= aprovizionare, oferta, (pl.) provizii
= a intruchipa, a incorpora, a cuprinde in sine
= anterior, precedent
= sosire, aparitie
= utilizator
= marca fabricii; calitate; sortiment
= afaceri; magazin, companie; ocupatie
= frunzulita; manifest, pliant
= a flat surface on which advertising bills are posted

GRAMMAR
The Past Tense Simple expresees:
an action or state wholly completed in the past:
I met my former supervisor yesterday/last week/two days ago etc.
a past habit or a repeated action in the past:
Marys husband drafted (= used to draft) a lot of reports when he was young.
The Past Tense Continuous expresses:
an action in progress at a certain moment in the past:
This time yesterday the workers were listening to their leaders
explanations.
25

two or more simultaneous actions in the past:


They were visiting the offices while Mr.Simons was preparing for the
meeting.
a repeated action in the past which annoys the speaker:
She was always complaining about her work place.

DISCUSSIO%
1) Enlarge on:
a) Give a definition of marketing.
b) Are there any differences between past buying and selling and todays
marketing?
c) What are the first steps taken by a market-focused or customer-focused
organization?
d) What are the four Ps that make up the marketing mix?
e) Why do businesses advertise?
f) What forms of advertising are used in marketing?
2) Fill in the blanks with suitable words from the box:
generally, to ensure, all, company, customer, approach, no, activities
Most companies today have a customer orientation (also called focus).
This implies that the company focuses its and products on customer
needs. there are two ways of doing this: the customer-driven approach
and the product innovation .
In the consumer-driven approach, consumer wants are the drivers of
strategic marketing decisions. strategy is pursued until it passes the test
of consumer research. In a product innovation approach, the pursues
product innovation, then tries to develop a market for the product. Product
innovation drives the process and marketing research is conducted primarily
that a profitable market segment(s) exists for the innovation.
3) Fill in with the correct form of the Past Tense Simple or Continuous:
a) We (have) an interesting conversation when the telegram (arrive).
b) She (not see) you when you (come) in because she (type) busily.
c) The people (work) while the directors (visit) the building site.
d) While I (analyse) the documents, the manager (talk) to the applicants.
e) He (initiate) this transaction yesterday.
f) She (leave) in a hurry as she (be) very late for the congress.
g) My friends (find) a new job last month.
h) We all (hope) for a financial change last year.

26

4) Translate into Romanian:


Seven Ps
As well as the standard four Ps, services marketing calls upon an extra
three, totalling seven and known together as the extended marketing mix.
These are:
People: Any person coming into contact with customers can have an impact
on overall satisfaction. Whether as part of a supporting service to a product
or involved in a total service, people are particularly important because, in
the customers' eyes, they are generally inseparable from the total service. As
a result, they must be appropriately trained, well motivated and the right
type of person.
Process: This means the processes involved in providing a service and the
behaviour of people, which can be crucial to customer satisfaction.
Physical evidence: Unlike a product, a service cannot be experienced before
it is delivered, which makes it intangible. This therefore means that potential
customers perceive greater risk when deciding whether or not to use a
service. To reduce the feeling of risk, it is often vital to offer potential
customers the chance to see what a service would be like, by providing
physical evidence, such as case studies, or testimonials.
5) Translate into English:
1. Un concept nou care implic dinamica relaiei dintre client i ntreprindere
este cel de orientare spre clieni. Orientarea spre clieni este o garanie
tiinific solid pentru succesul i meninerea unei ntreprinderi pe pia.
2. Marketingul relaional reprezint atragerea, dezvoltarea i pstrarea
relaiei cu clientul.
3. mbuntirea continu a serviciului prin completarea serviciului cu
altele suplimentare pentru ca oferta s fie ct mai atractiv trebuie s
aib n vedere servicii care au valoare pentru clieni, care sunt greu de
imitat de concuren i care s fie fezabile din punct de vedere financiar.
4. Satisfacia clientului este sentimentul unei persoane rezultat prin
compararea performanelor percepute ale unui produs cu ateptrile
respectivei persoane.
6) Discussion
Make up a funny and attractive advertisement for a product or service.

27

UNIT 5

TYPES OF COMPANIES
All business organizations represent an attempt to avoid certain costs
associated with doing business. Each is meant to facilitate the contribution
of specific resources - investment capital, knowledge, relationships, and so
forth - towards a venture which will prove profitable to all contributors.
Except for the partnership, all business forms are designed to provide
limited liability to both members of the organization and external investors.
Sole Proprietorship
Generally a sole proprietorship is owned and run entirely by a single person. In
the case of a sole proprietorship, the business is not legally a separate entity
from the individual. The individual owner assumes a great deal of liability as
his/her assets are not considered to be separate from that of the business. Also,
the debts of the business are not considered to be separate from the individual.
If the owner is married any property owned in conjunction with another person
such as (community property) would also be considered assets of the
business. Consequently this business structure could entail a great deal of risk
and liability for the owner. Should anything go wrong, what might have been
considered private property (i.e. cars, homes, land, bank accounts, etc.) could
be seized in a lawsuit against the business.
General Partnership
A general partnership is made up of two or more partners going into
business together. Like a sole proprietorship the individuals involved are
personally responsible for all debts and legal obligations of the business.
The most dangerous trait of a general partnership is that the individual
partners are liable for the debts and legal obligations incurred by the other
partners when doing business on behalf of the company. A partnership is
dissolved upon the death or withdrawal of a partner unless certain
precautions are taken.
Limited Partnership
A limited partnership is made up of general partners and limited partners.
General partners participate in the day-to-day business activities of the
company, exercise managerial power, contribute capital, share in the profits
and are held personally liable for all company debts and legal obligations.
Limited partners only contribute capital and share in the profits but take no
part in the management of the company nor are they held responsible for
company debts or liability. For the limited partners a benefit of this type of
28

organization is that they may participate in any profits the company may
produce without risking more than the capital they are willing to contribute.
The general partner, however, is subject to full legal liability. That is why a
separate corporation or limited liability company is often created to serve as
the general partner.
Limited Liability Partnership (LLP)
A limited liability partnership is created to protect partners from liability caused
by other partners. (e.g. a partner gets into an at-fault accident while running
errands and the company is sued.) However, it does not generally shield the
partner who caused the liability. A limited liability partnership can operate
more informally and flexibly than a corporation, and is accorded full
partnership tax treatment. For example, in California, with few exceptions, only
attorneys, certified accountants and architects may form an LLP
Joint Stock Company
A joint stock company is a limited liability corporation with a minimum
registered capital and at least five shareholders. It can be set up privately or
by public subscription. Decisions are made by a majority vote in the General
Meeting of the Shareholders (each share represents one vote). The
management of a joint stock company is assumed by a Council of
Administration (Board of Directors), although it is possible to have only one
Administrator. The Directors do not necessarily have to be shareholders and
they are appointed by the General Meeting, which establishes their powers,
for a maximum mandate of four years.
Limited Liability Company (LLC)
Limited liability companies are popular because they essentially combine
the best of both worlds; the limited liability of a corporation and the
favorable taxation accorded to partnerships. Just as limited partnerships and
corporations are considered to be separate legal entities from their
member/owners, so are LLCs. Most states have allowed for single
member/owner LLCs. One should note that IRS rules and regulations
regarding single-owner LLCs (may be taxed as a corporation or disregarded
entity for taxation purposes) can be different from those with more than one
(may choose to be taxed as a partnership or corporation).
Corporations
A corporation is a separate legal and tax entity from the owners. To be
incorporated an Incorporator must draft legal documents and file the
documents with the appropriate government agency and pay the required
fees and taxes. A corporation is owned by shareholders and is managed and
controlled by the board of directors who elect the president and determine
the policies and actions to be taken by the corporation. In order to maintain
corporate status (included limited liability and favorable taxation) certain
29

simple formalities must be observed in order to keep the corporate shield


intact. These formalities include, but are not limited to: annual meeting of
the board of directors, the issuing of stock, keeping of corporate minutes
and the appointing of corporate officers.

VOCABULARY
venture (subst.)
= actiune comerciala
joint stock company
= societate pe actiuni
limited liability
= raspundere limitata
sole proprietorship
= unic proprietar
to run (verb)
= a conduce, a administra
assets (subst.)
= active (ale unei companii etc.)
consequently (adv.)
= prin urmare
to entail (verb)
= a aduce dupa sine,a cauza
to seize (verb)
= a apuca, a prinde, a captura
debt (subst.)
= datorie, obligatie, creanta
to incur (verb)
= a atrage asupra sa
to be held liable/responsible = a raspunde de
to run errands
= a face comisioane
to shield (verb)
= a apara, a proteja
tax (subst.)
= impozit, taxa, contributie
attorney (subst.)
= avocat, mandatar, notar public
IRS (abrev.)
= International Revenue Service
shareholder (subst.)
= actionar, detinator de actiuni
board of directors
= consiliul de conducere
to keep minutes
= a face un proces verbal

GRAMMAR
The Past Perfect Simple Tense is used:
for an action which happened before another past action or before a
stated time in the past:
The foreign partners had already reserved the table when they went to
the restaurant.
They had already sat down for the business dinner by 8 pm.
for an action which finished in the past and whose result was visible
in the past:
Bill had sold his company after its failure, so he had to wait for a more
favourable time.
30

The Past Perfect Continuous Tense is used:


to put emphasis on the duration of an action which started and finished
in the past before another past action or a stated time in the past:
They had been doing business together for five years before they ended
their collaboration.
for an action which lasted for some time in the past and whose result
was visible in the past:
She had been working hard that day, so she was tired.

DISCUSSIO%
1) Enlarge on:
a) What are business organizations meant to?
b) Enumerate various the business forms in the lesson.
c) What is a sole proprietorship?
d) Explain what a general partnership and limited partnership mean.
e) Speak about joint stock companies.
f) Define an LLP and an LLC.
g) Give the definition of a corporation.
2) Read the lesson carefully and find the words whose meanings are the
ones below:
- the amount paid or charged for something; price
- which derives benefit; beneficial
- two or more people contractually associated as joint principals in a business
- something owed; obligation
- a planned undertaking
- the one who has or holds as property
- a paper that furnishes information, proof or support of something
3) Fill in with the correct form of the Past Perfect Simple or
Continuous:
a) That was the most difficult business letter I ever (draw up).
b) We already (choose) our building location when we had to cancel it.
c) I had a headache because I (work) on my project for at least five hours.
d) The ground was wet. It (rain).
e) We remembered we (not call) our superior on his birthday.
f) They said they always (come) to the conferences where they (be) invited.

31

4) Translate into Romanian the following quotes of leaders in investing,


business and finance:
People are definitely a companys greatest asset. It doesn't make any
difference whether the product is cars or cosmetics. A company is only as
good as the people it keeps.
A brand for a company is like a reputation for a person. You earn
reputation by trying to do hard things well.
If the firms that employ an increasing majority of the population are driven
solely to satisfy the owner's greed at the expense of working conditions, of
the stability of the community, and of the health of the environment, chances
are that the quality of our lives will be worse than it is now.
A corporation's primary goal is to make money. Government's primary
role is to take a big chunk of that money and give it to others.
Business social responsibility should not be coerced; it is a voluntary
decision that the entrepreneurial leadership of every company must make
on its own.
Spend a lot of time talking to customers face to face. You'd be amazed
how many companies don't listen to their customers.
When buying shares, ask yourself, would you buy the whole company?
5) Translate into English:
1. Principiile comunicarii intr-o organizatie sunt aplicabile oricarei companii.
2. Trebuie clarificat rolul comunicarii in atingerea obiectivelor companiei.
3. Dezvoltarea unei organizatii se face in acelasi timp cu dezvoltarea
componentei umane.
4. Companiile cred foarte mult in valoarea resurselor umane.
5. Toi asociaii trebuie s primeasc beneficii i s participe la suportarea
pierderilor.
6) Discussion:
Should you start your own business, what field of activity would you choose
and why?
Speak about a successful company in Romania or abroad.

32

UNIT 6

WORK AND MOTIVATION


Work motivation is one of the key areas of organizational psychology.
Every person has different reasons for working. The reasons for working are
as individual as the person. But, we all work because we obtain something
that we need from work. The something we obtain from work impacts our
morale and motivation and the quality of our lives.
Some people work for love; others work for personal fulfilment. Others like
to accomplish goals and feel as if they are contributing to something larger
than themselves, something important. Some people have personal missions
they accomplish through meaningful work. Others truly love what they do
or the clients they serve. Some like the camaraderie and interaction with
customers and co-workers. Other people like to fill their time with activity.
Whatever your personal reasons for working, the bottom line, however, is
that almost everyone works for money. Whatever you call it: compensation,
salary, bonuses, benefits or remuneration, money pays the bills. Money
provides housing, gives children clothing and food, sends teens to college,
and allows leisure activities, and eventually, retirement. To underplay the
importance of money and benefits to people who work is a mistake.
Here are five ways to max-up your motivation at work :
1. Keep your ambition in check
The desire to work hard is strong when the incentive to impress and prove
yourself is high. However, mismanaged ambition will erode your passion to
work hard and burn you out.
Manage your ambition by being smart about whom you impress and how
you impress them. Balance effort with payback by making sure your actions
are low effort to you and high value to them.
2. Find out how to get from A to B
Fuzzy, unclear goals are a major drain on work motivation. Force your boss
to delegate not abdicate work. Get clarity on how to get from A to B, and
when. What exactly is the expected end result? Is this achievable? Do you
need help?
Planning your route in advance will keep your work juices flowing.
3. Get experience
Who do you aspire to be like? Do you think they know how to do
everything themselves?
33

If you dont know how to do something, find someone who does and copy
him or her. Use all resources to hand websites, books, colleagues,
relations, friends, TV characters, and professionals. Save time and learn
from their mistakes, not yours.
Or better still, get someone else to do it.
4. Set boundaries
If the work is taking too long, youre either doing too much or not doing it
right. And wait a minute was it your job in the first place? Whether you
take work upon yourself or have it dropped from a great height, set
boundaries in your work life.
Be strict about when you arrive and when you leave work, and all the breaks
your body needs in between. Be strict about time to build relationships and
time to work and time for all the important stuff in your work life.
Be strict about what is and isnt your job. Were all one great big team at
work, so make sure the ball is passed around ALL players. You cant be
player of the match every game.
5. Push your limits
Sometimes we get so busy nurturing and developing others, we forget to
develop our own skills.
Treat your own development like you would treat your team's or friends or
partner's. Take time to discover what you want to do with your life and plan
your personal development.
That is why organizational psychologists have become interested in
devising strategies to help workers enhance their quality of work life
(QWL), including improving work conditions and security, increasing
worker responsibility, and providing financial stability. Other strategies
include enhancing the worker's sense of self-worth and providing
opportunities for social relationships to develop within the organization.
Consequently, job satisfaction is an area of organizational psychology that
will certainly continue to be important in the future.

VOCABULARY
morale (subst.)= moral
housing (subst.)
= locuinta; gazduire
to underplay (verb) = a subestima, a nu trata la justa valoare
incentive (subst.)
= stimulent, indemn, incurajare
fuzzy (adj.)
= vag, estompat
to nurture (verb)
= a hrani, a nutri; a creste, a educa
to devise (verb)
= a inventa, a planui
to enhance (verb)
= a spori, a intensifica
34

GRAMMAR
The Future Tense Simple is used:
in predictions about the future usually with the verbs think, believe,
expect etc., the expressions be sure, be afraid etc., and the adverbs
perhaps, certainly, probably etc.
His parents think he will become a successful manager one day.
for on-the-spot decisions and offers:
Ill take this offer.
Since we are celebrating a new partnership, Ill pay for lunch.
for actions/events/situations which will definitely happen in the
future and which we cannot control:
Jill will be thirty years old next month.
for promises (usually with the verbs promise, swear, guarantee etc.),
threats, warnings, requests, hopes (usually with the verb hope):
I hope pollution levels will drop soon. (hope)
Factories must stop polluting the air or else we wont be able to breathe. (warning)
The Future Tense Continuous is used:
for an action which will be in progress at a stated future time:
This time next week, Ill be traveling to Austria.
for an action which will definitely happen in the future as the result
of a routine or arrangement:
Ill be seeing them at the meeting on Tuesday.
when we ask politely about someones plans for the near future:
Will you be going out later?

DISCUSSIO%
1) Enlarge on:
a) What field does work motivation belong to?
b) What are the various reasons why people work?
c) Of the five tips for work motivation, what is the first?
d) What does the second tip suggest?
e) What does the third tip refer to?
f) Summarize the fourth tip.
g) What does the fifth tip speak about?
h) Enumerate some strategies to improve QWL.
2) Find synonyms for:
area, work, motivation, goal, benefit, to erode, to treat, strategy, satisfaction,
to enhance
35

3) Put the verbs in brackets into the Future Tense Simple or Continuous:
a) Have you finished that report yet?
Yes. I (give) it to you in a minute.
b) I (stay) in Claires office today.
I wont expect you here, then.
c) Would you like to join me for lunch today?
Yes, please. I (meet) you at half past one.
d) Are you looking forward to your trip?
Yes. This time tomorrow I (fly) to London.
e) I cant hear the news very well.
I (turn up) the volume.
f) This writing is too small for me to read.
Give it to me and I (read) it to you.
4) Translate into Romanian:
Douglas McGregor (1960) summarized two possible views of management in
worker motivation. Theory X is the traditional view of direction and control. It
states that the worker dislikes work and tries to avoid it. The function of
management, therefore, is to force the employee to work, through coercion and
threats of punishment. The worker prefers in most cases to be directed and wants
to avoid responsibility. The main motivator for the worker, therefore, is money.
Theory Y is the humanistic/self-actualization approach to human motivation.
Sometimes called the human resources model, it states that work is natural and can
be a source of satisfaction, and that when it is, the worker can be highly committed
and motivated. Workers often seek responsibility and need to be more fully
involved with management to become motivated. Theory Y is most likely to be
used when management utilizes worker participation in organizational decisions.
5) Translate into English:
B. 1. Omul prin natura sa este o fiinta emotionala, dotata cu o inteligenta
emotionala care poate fi dezvoltata pana la varste inaintate, iar a "lucra" cu
oamenii inseamna in mare masura a "lucra" cu emotiile proprii si ale celorlalti.
2. Abilitatea de a-i conduce pe altii este calitatea esentiala a unui manager.
Din acest motiv trebuie sa avansezi gradual catre acea pozitie n care
stimulezi angajatii sa dea ceea ce au mai bun si sa-si foloseasca la maximum
capacitatile pentru a atinge obiectivele organizatiei.
3. O buna strategie de motivare trebuie sa tina cont de abilitatile, pregatirea,
ambitiile si prioritatile profesionale si personale ale fiecarui angajat in parte,
mai ales in cazul firmelor mici.
6) Discussion:
Speak about what you would appreciate most in a job (refer to working
conditions, co-workers, salary, benefits etc.)

36

UNIT 7

PRODUCTION
Economic production is an activity carried out under the control and
responsibility of an institutional unit that uses inputs of labour, capital, and
goods and services to produce outputs of goods or services.
Efficiency is an important concept having several meanings which generally
relate to how well an economy allocates resources to meet the needs and
wants of consumers.
Economic growth consists not in increasing the production of things, but in
the production of wealth. What does wealth consist of? Wealth is whatever
people value. Many people have drifted into the habit of supposing that an
economic system produces material wealth, such as cars, houses,
basketballs, breakfast cereals, ball-point pens etc. But none of this is wealth
unless it is available to someone who values it. Material things can
contribute to wealth, obviously, and are in some sense essential to the
production of wealth.
Economic welfare is a comprehensive measure of the general state of
economic well-being/welfare. Real GDP (Gross Domestic Product) growth
is one indicator of an improvement in economic welfare. But does real GDP
give us a full and accurate measure of economic welfare? It does not. The
reason is that economic welfare depends on many other factors that are not
measured by real GDP (or that are not measured accurately by real GDP).
Some of these factors are:
Overadjustment for inflation (e.g. when car prices rise because cars
have become better, what is really an increase in production is
counted as an increase in price);
Household production (e.g. an enormous amount of production takes
place every day in our homes. Changing a light bulb, cutting the
grass, washing the car, and teaching a child to read are all examples
of household production that do not involve market transactions and
are excluded from GDP);
Underground economic activity (the underground economy is
purposely hidden from the view of the government in order to avoid
taxes and regulations because the goods and services being produced
are illegal, which means the underground economic activity is
unreported and thus omitted from GDP) ;
37

Health and life expectancy (a higher GDP does enable us to spend more
on medical research, health care, a good diet, and exercise equipment
and as real GDP has increased, our life expectancy has lengthened);
Leisure time (it is an economic good that adds to our economic welfare;
the more leisure we have, the better off we are. Our time spent working
is valued as a part of GDP, but our leisure time is not);
Environment quality (e.g. resources that are used to protect the
environment are valued as part of GDP. One of the things that
wealthy people value is a clean environment and they devote
resources to protecting it);
Political freedom and social justice (e.g. small elite might enjoy
political liberty and extreme wealth while the vast majority are
effectively enslaved and live in poverty. Such an economy would
generally be regarded as having less economic welfare than one that
has the same amount of real GDP but in which everyone enjoys
political freedoms) .
When it comes to GNP (Gross National Product), some people perceive
it as a measure of economic welfare, happiness or social progress, yet it
focuses on the production of goods and services, without making any
judgements about how useful the goods are or what makes people want
them. It is the broadest and most frequently quoted index of economic
performance and an indicator of short-term changes in productive
activity. Current GNP provides a reasonably accurate indication of how
we are doing relative to the recent past.
Economic efficiency, another term related to productive activity, is
defined as the least-cost method of production.
Allocative efficiency is the use of resources to produce the goods most
desired by society. It is the reason why most economists look to the
market first for solutions to economic problems.
Technological or technical efficiency means avoiding outright waste. Thus
a restaurant is technically inefficient if it produces a standard meal using
twice as much labour as other restaurants. In brief, technical inefficiency
exists if there is poor management and unnecessarily high costs.
Dynamic efficiency exists when changes are occurring at the best rate
for example, when new technology is being developed and adopted at
the best rate.
Therefore, efficiency prevails in an economy when all net gains from
resource use have been achieved. Perfect competition works toward
technical efficiency as well as allocative efficiency. If a firm is
inefficient and produces at a high-cost point, it will not be able to

38

survive in competition with others. Thus, there is a tendency for


inefficient old firms to go the way of the dinosaurs to be driven out of
business by their existing competitors or by new firms with lower costs.

VOCABULARY
GDP (Gross Domestic Product)

GNP (Gross National Product)

Wealth
to drift
comprehensive
allocative
outright
to prevail

= The total value of final goods and


services produced within a country's
borders in a year.
= The value of all goods and
services produced in a country in
one year, plus income earned by its
citizens abroad, minus income
earned by foreigners in the country.
= bogatie, avere, bunastare
= a tinde spre
= cuprinzator, vast
= de alocare, de repartizare
= complet, in intregime
= a (pre)domina, a reusi, a izbuti

GRAMMAR
The Future Perfect Simple Tense is used for an action which will be
finished before a stated future time:
They will have finished their papers by four oclock this afternoon.
The Future Perfect Continuous Tense is used to emphasize the duration
of an action up to a certain time in the future:
By the time Rick retires, he will have been working for the same company
for thirty years.

DISCUSSIO%
1) Enlarge on:
a) Define economic production.
b) What does efficiency generally refer to?
c) Briefly describe the factors that economic welfare depends on.
d) What types of economic efficiency are there? Explain each.
e) What does the GDP of a country mean?
f) What does the GNP of a country mean?
2) Give the antonyms of:
input, consumer, wealth, poor, comprehensive, high, to increase, to produce
39

3) Put the verbs in brackets into the Future Perfect Simple or Continuous:
a) By 3 oclock, she (file) for six hours.
b) By the end of next month, Sam (finish) the project.
c) He (not start) sending faxes before Tuesday.
d) By the time she arrives in Paris, she (travel) for four hours.
e) I hope I (run) my own business by the time I am thirty-five.
f) By Saturday, Lisa (be) hired for two weeks.
g) Hopefully, they (learn) everything by the time they sit in for the exam.
h) By Christmas, I (work) for this company for eighteen months.
i) By next weekend, Brian (move) his papers into his new office.
j) At 3 oclock, I (read) the contracts for six hours.
4) Translate into Romanian:
A region's gross domestic product, or GDP, is one of several measures of the
size of its economy. The GDP of a country is defined as the market value of all
final goods and services produced within a country in a given period of time.
Until the 1980s the term GP or gross national product was used. The two
terms GDP and GNP are almost identical. The most common approach to
measuring and understanding GDP is the expenditure method:
GDP = consumption + investment + government spending + (exports imports)
"Gross" means depreciation of capital stock included. Without depreciation, with
net investment instead of gross investment, it is the Net domestic product.
5) Translate into English:
B. Produsul intern brut exprima valoarea bunurilor si serviciilor rezultate
din activitatea desfasurata in interiorul tarii, de obicei intr-un an. Produsul
national brut reprezinta suma dintre produsul intern brut si soldul
operatiilor economice cu strainatatea. Produsul national net se obtine prin
scaderea amortizarilor din produsul national brut. Dintre acesti indicatori,
cel mai folosit in comparatiile internationale este produsul national brut, el
fiind acela care reflecta si rezultatele relatiilor economice externe.
6) Explain the following quotes:
The study of economy usually shows us that the best time for purchase
was last year.
The trouble with a budget is that it's hard to fill up one hole without
digging another.
Economy is how to spend money without enjoying it.
The economy depends about as much on economists as the weather does
on weather forecasters.
Production is not the application of tools to materials, but logic to work
The production of too many useful things results in too many useless people.
40

UNIT 8

PRICING POLICY
Pricing Before You Build
Establishing a pricing strategy is an activity that should be completed before
you start product development. The only way to determine how much
money you can afford to spend on development, support, promotion and the
other costs associated with a product is to analyze how much of that product
you will sell, and at what price. Making a profit today depends on a
successful pricing strategy.
Pricing Strategy
While there is no single recipe to determine pricing, the following is a
general sequence of steps that might be followed for developing the pricing
of a new product:
1. Develop marketing strategy perform marketing analysis,
segmentation, targeting, and positioning.
2. Make marketing mix decisions define the product, distribution, and
promotional tactics.
3. Estimate the demand understand how quantity demanded varies with price.
4. Calculate cost include fixed and variable costs associated with the product.
5. Understand environmental factors evaluate possible competitors,
understand legal constraint.
6. Determine pricing select a pricing method, define discounts.
Marketing Strategy and the Marketing Mix
Before the product is developed, the marketing strategy is formulated, including
target market selection and product positioning. There usually is a tradeoff
between product quality and price, so price is an important variable in positioning
Because of inherent tradeoffs between marketing mix elements, pricing will
depend on other product, distribution, and promotion decisions.
Estimate the Demand Curve
Because there is a relationship between price and quantity demanded, it is
important to understand the impact of pricing on sales by estimating the
demand curve for the product.
For existing products, experiments can be performed at prices above and
below the current price in order to determine the price elasticity of demand.
Inelastic demand indicates that price increases might be feasible.
41

Calculate Costs
If a firm has decided to launch a product, there should be at least a basic
understanding of the costs involved, otherwise, there might be no profit to be made.
The total unit cost of a product is composed of the variable cost of
producing each additional unit and fixed costs that are incurred regardless of
the quantity produced.
Environmental Factors
Pricing must take into account the competitive and legal environment in
which the company operates. For example, setting a price too low may risk
a price war that may not be in the best interest of either side. Setting the
price too high may attract a large number of competitors.
From a legal standpoint, a firm is not free to price its products at any level it
chooses. For example, there may be price controls that prohibit pricing a product
too high. Pricing it too low may be considered predatory pricing or dumping in
the case of international trade. Offering a different price for different consumers
may violate laws against price discrimination. Finally, collusion with competitors
to fix prices at an agreed level is illegal in many countries.
Pricing Methods
To set a specific price level that achieves their pricing objectives, managers
may make use of several pricing methods. These methods include:
Cost-plus pricing set the price at the production cost plus a certain profit
Target return pricing set the price to achieve a target return-oninvestment
Value-based pricing base the price on the effective value to the customer
Psychological pricing base the price on factors such as signals of product
quality or what the consumer perceives to be fair
The normally quoted price to end users is known as the list price. The price
usually is discounted for distribution members and some end users.

VOCABULARY
to complete
to compete
standpoint
to prohibit
dumping
collusion
list price

= a termina, a desavarsi, a completa


= a concura, a rivaliza
= punct de vedere, pozitie
= a interzice
= vanzare de bunuri pe piete straine sub
pretul de cost
= intelegere secreta intre doua parti,
complicitate
= pret de catalog, pret de pornire
42

marketing mix

return-on-investment (ROI)
feasible
price elasticity of demand
tradeoff
demand curve

= elementele de baza ale unui plan de


marketing:
produs,
pret,
piata,
promovare
= randament, rentabilitate a investitiei
= posibil de realizat
= modul in care cererea raspunde unei
schimbari a pretului
= schimb ce implica un compromis
= reprezentare a modului in care
cererea variaza in functie de pret

GRAMMAR
MODAL VERBS
SHALL
Determination, resolution:
Our employees shall not leave their offices until the program is over!
Promise:
If this product is launched successfully, you shall have a reward.
Threat:
If you do not listen to me, you shall be fired.
WILL
Willingness, determination:
I will pay you as much as you ask for.
Promise:
I will perform this marketing analysis.
Something that recurs very often:
Prices will be always high.
CA
Present or future physical or mental ability:
Only the government panel can balance a countrys budget.
Permission (informal English):
Can we train the new comers or shall we wait for our boss?
Possibility when certain circumstances permit:
If we make a deal, we can grant you a 5% discount.
Impossibility or disbelief:
She is only a clerk; she cant hire people.
43

COULD
Past physical or mental ability:
When he was a sales agent he could sell things very easily.
A polite request:
Could you tell us if 10 January is a suitable delivery time?
A past possibility depending on certain circumstances:
We could develop our product due to its unique qualities.
Past permission:
As we had all our papers in order, we could pass through the customs
very rapidly.
MAY
Formal permission:
May I hand you these documents?
Possibility:
The meeting may start any time.
Prohibition:
Candidates may not bring dictionaries in the examination room.
MIGHT
Permission connected with the past:
He might cut budgets whenever he wanted since he was the manager.
Irritation, indignation, reproach:
You might have told me the product is out of stock.
Uncertainty:
I wonder what type of company might launch such prices.
MUST
Obligation, command, necessity:
You must show your identity card.
Deduction, logical conclusion, probability:
If they received the cheque, they must have the money.
DOT HAVE TO /EEDT
Absence of obligation:
You dont have to/ neednt report this incident to your superior.
MUST EEDS
External necessity or obligation:
You must needs send this offer today.
44

EEDS MUST
Strong sarcastic meaning:
She needs must come today when I am so busy.
SHOULD
Obligation, advice, recommendation:
She should not include additional material without the companys
agreement.
OUGHT TO
Duty, moral obligation:
You ought to phone your business colleagues at once.
WOULD
Polite request:
Would you tell me the original brand names?
USED TO
A past habit or condition:
We used to run this record shop when we were young.
DARE
Indignation, reproach:
How dare you interrupt me?

DISCUSSIO%
I. Enlarge on:
1. What are the six steps that might be followed in developing the pricing of
a product? Can you mention some other strategies besides this starting
framework? 2. Speak about price and the marketing mix. 3. To what extent
do you consider the competitive environment important? What about the
legal one? 4. Which of the above mentioned pricing methods is the most
efficient? Why? 5. Speak about the possible link that exists among pricing
policy, productivity, social development and well-being.
II. Insert the following words in the text below:
price sensitivity, customer, encounters, favor, unwilling, raise, something,
reticence

45

Raise Price to Exploit a Reticence to Switch


Once the is yours, the situation switches in your . One of the
resistance factors your sales force on a new sale is ,,, to switch. An
existing customer is still to learn something new, only now theyre afraid
to switch from you, not to you. They would not like to learn how to use
new. For you, is much lower as comfort and ease factors increase. So you
might your update pricing accordingly.
III. Fill in the blanks with the suitable modal verbs in the box below:
can/could; may/might; must; to have to; need; shall/should; ought to; dare;
used to; will/would
1. A manager make sure that the actual performance of the organization is
relevant. 2. Manual and service industry be often organized in labour unions.
Even employers and managers themselves belong to a professional
association with similar basic aims. 3. Employers are very fond of saying:
something be done about this. 4. What segments of the end-use market
the company serve? 5. What I do for you?. I like to speak to the
Personnel Manager. 6. She be in her office at half past seven every day. 7.
When I was hired as a secretary, the company to be owned by Mr. Spencer.
He a reliable person and thats how I got hired.8. What seats I buy?
IV. Translate the following sentences into Romanian. Pay attention to
the use of modal verbs:
1. She could have taken the floor, but she didnt. 2. I challenged them to speak
about the marketing strategy in their company, but they wouldnt. 3. When taking
a decision, managers should take into account the companys strengths and
weaknesses. 4. This investment ought not to cost more than ten million dollars. 5.
The management department ought to consult workers on matters that will
concern them. 6. That they should have behaved like that was very surprising. 6.
She needs must ring me now when I have so much work to do. 7. The magnitude
of these budgets cuts is hard to understand; they are the deepest we thought could
possibly come about. 8. The recruitment and training of new staff will take years.
V. Translate the following sentences into English using modal verbs:
1. Firma trebuie sa faca fata la numeroase constrangeri in materie de politica
de pret. 2. Perioadele de expansiune economica permit o politica de pret
dinamica. 3. Cumparatorul poate gasi dificil sa cunoasca diferitele preturi
practicate pe o piata. 4. In functie de imaginea pe care firma vrea sa o
creeze, ea isi poate fixa preturile sub cele ale pietei sau superioare acestora
sau poate pur si simplu sa se alinieze la acestea. 5. Singura justificare pentru
preturile mai mari trebuie sa fie calitatea superioara.

46

UNIT 9

PROMOTIONAL TOOLS
ITRODUCTIO
Advertising is a message designed to promote or sell a product, a service or
idea. Advertising reaches people through varied types of mass
communication. In everyday life, people come into contact with many
different kinds of advertising. Advertising agencies create and place
advertisements in a variety of media, including newspapers, television,
direct mail, magazines, the Internet, and outdoor signs.
Most advertising is designed to promote the sale of a particular product or
service. Some advertisements, however, are intended to promote an idea or
influence behavior, such as encouraging people not to use illegal drugs or
smoke cigarettes. These ads are often called public service ads (PSAs).
Some ads promote an institution, such as the Red Cross or the United States
Army, and are known as institutional advertising. Their purpose is to
encourage people to volunteer or donate money or services or simply to
improve the image of the institution doing the advertising. Politicians also
use ads to win votes. And people advertise in newspapers to sell cars,
homes, property, or other items.
Advertising has become increasingly international. More than ever before,
corporations are looking beyond their own countrys borders for new
customers. Because corporations are opening new markets and selling their
products in many regions of the globe, they are also advertising their
products in those regions. In 2000 the United States was the leading
advertising market in the world, Japan ranked second, followed by
Germany, the United Kingdom, and France.
TYPES OF ADVERTISIG
Advertising can be divided into two broad categories consumer advertising and
trade advertising. Consumer advertising is directed at the public. Trade
advertising is directed at wholesalers or distributors who resell to the public.
Consumer advertising can be further divided into national advertising and
local advertising. National advertising is aimed at consumers throughout the
country. National advertising usually attempts to create awareness among
the public of a product or service, or it tries to build loyalty to a product or
service. Local advertising is aimed at informing people in a particular area
where they can purchase a product or service.
47

Advertising to the public may also take the form of institutional advertising,
image advertising, informational advertising, or cooperative advertising.
Institutional advertising seeks to create a favorable impression of a business
or institution without trying to sell a specific product. This type of
advertising is designed to build prestige and public respect. That is the case
of large companies that may sell a diversity of products. They are more
interested in building a brand image for the company itself. If consumers
learn to have a high regard for the company, then they are more likely to
have a favorable opinion of all of the companys diverse products.
Many advertisers prefer a strategy known as image advertising. These
advertisers seek to give a product a personality that is unique, appealing,
and appropriate so that the consumer will want to choose over similar
products. This image of the product is created partly by the products design
and packaging but, more importantly, by the words and pictures the
advertisements associate with the product.
Informational advertising seeks to promote an idea or influence behavior.
Sometimes known as public service advertising, it may try to discourage
young people from using illicit drugs or tobacco, or it may encourage people
to adopt safer, healthier lifestyles.
Cooperative advertising is an arrangement between manufacturers and
retailers in which manufacturers offer credits to their retail customers for
advertising. The credits or advertising allowances are based on the amount
of product the retailer purchases.
TECHIQUES
A technique is a method advertisements use to persuade consumers to buy a product.
Some of the more common techniques used in advertising include the following:
Bandwagon: the impression that everyone else is doing it, or of being left
out of something if you dont.
Sex appeal: other people will think that you are more attractive or desirable
because you use that product. An attractive model may be used to gain your
attention.
Emotional words: specific words used to affect your emotions either
positively or negatively.
Transfer: positive feelings about the people in the ad are transferred to the
consumer; using the product will make you look or feel like the people in the ad.
Visual imagery: use of people, settings or situations that appeal to consumers.
Disconnected images are often used because they evoke positive feelings.
Companies target specific groups in their advertising groups defined by
gender, ethnic group, income, occupation, region of the country and so on.
A technique that works for one group may not appeal to another.
48

VOCABULARY
retailer
wholesaler
to purchase
to seek
to be likely
appropriate
packaging
allowance
bandwagon
income
publicity

= detailist, vnztor cu amnuntul


= angrosist
= a cumpra, a achiziiona, a obine
= a cuta, a ncerca
= a fi posibil
= potrivit, adecvat
= ambalaj
= reducere, rabat, indemnizaie
= situaie important, activitate care ctig popularitate
= venit, ctig
= reclam

GRAMMAR
IF CLAUSES
Type 1 (open, probable condition)
Main clause
If clause
FUTURE
PRESENT
If they choose this product design, the sales will go up..
Type 2 (improbable, unreal condition)
Main clause
If clause
PRESENT CONDITIONAL
PAST TENSE
If they chose this product design, the sales would go up.
Type 3 (impossible condition)
Main clause
If clause
If they had chosen this product design, the sales would have gone up.

DISCUSSIO%
A. Enlarge on:
1. What is the advertising role (if any) upon reducing the cost of what
consumers pay for information? 2. Which do you think is the most efficient
advertising technique and why? 3. Speak about the impact of using cartoons
and animals on childrens consumer habit. 4. Do you think advertising
becomes ineffective after a certain point? Why?
B. Which of the following claims do you agree with?
1. Advertising often persuades people to buy things they dont need or things
they dont want. 2. Advertising lowers the publics taste. 3. Advertising raises
prices. 4. A large reduction of advertising would decrease sales. 5. Advertising
does not present a true image of the product. 6. Advertising has a bad
influence on children
49

II. Insert the following words in the text below:


concerned with; personal selling; product; promotion; price; mention;
publicity; tools; image; marketers
According to the well-known Four Ps formulation of the marketing mix
(, place, promotion, and ) advertising is clearly a matter of . Since
budgets are always limited, usually have to decide which advertising, public relation, sale promotion and personal selling to use and
in what proportion.
Public relation (often abbreviated to PR) is . maintaining, improving or
protecting the of a company or product. The most important element of
PR is which (as opposed to advertising) is any of a company product
that is not paid for.
III. Use the verbs in brackets in the correct form:
1. If there (not be) so many different types of mass communication, people
(have) no idea about advertising. 2 If you (smoke) in a non-smoking office, the
other colleagues (object). 3. You would better take the day off if you (not feel)
better. 4. If you (like) a job in this company you could get one. 5. If he (work)
overtime, he (earn) more than I do. 6. Most people (attend) the union meeting if
they had had longer notice of it.7. The club secretary is completely useless. If
the chairman (not tell) us about the meeting, we (not know) anything.
IV. Translate the following sentences into Romanian. Pay special
attention to the Conditional Mood:
1. The job is much worse than I expected. If I had realized how awful it was
going to be I wouldnt have accepted it. 2. They voted by a mere show of
hands and decided in favor of a strike. But it was by a narrow margin and I
think that if they had held a secret ballot there wouldnt have been a strike.
3. Should I have known the interview was to take place in front of a group
of experts I would have prepared better. 4. If producers do not distribute
their products in certain remote areas, potential customers in those areas will
not be available as customers.
V. Translate into English:
1. Majoritatea oamenilor considera ca publicitatea ofera numeroase beneficii
economice si sociale. Exista totusi si persoane care sustin ca publicitatea ar
avea efecte negative, ca de pilda: achizitionarea unor produse nedorite sau
inutile, cresterea preturilor, crearea unei imagini false a produsului, si nu in
ultimul rand, o influenta nefasta asupra copiilor. 2. Publicitatea este un
element esential in afaceri, in special in activitatea de lansare a noilor
50

produse. 3. O problema aparte o constituie suma de bani de care dispune


compania in procesul de dezvoltare a unui program de publicitate. 4. Chiar
si produsele bune, la un pret scazut, care satisfac nevoi multiple, au nevoie
de publicitate.
VI. Study case
For one week in your TV viewing time keep a log of the ads that you watch.
Figure out how many minutes per hour are used for advertising. Identify
five favorite commercials and the five that you dislike the most.

51

UNIT 10

ACCOUNTING AND BOOKKEEPING


Accounting and bookkeeping is the process of identifying, measuring,
recording, and communicating economic information about an organization
or other entity.
Personal record keeping often uses a simple single-entry system, in which
amounts are usually recorded in column form. Such entries include the date of
the transaction, its nature, and the amount of money involved. Record keeping of
organizations, however, is based on a double-entry system, whereby each
transaction is recorded on the basis of its dual impact on the organizations
financial position or operating results or both. Information relating to the
financial position of an enterprise is presented on a balance sheet, while
disclosures about operating results are displayed on an income statement.
Information relating to an organizations liquidity namely, how it obtains and
spends cash is shown on a statement of cash flows. These three financial
statements provide information about past performance, which in turn becomes a
basis for readers to try to project what might happen in the future.
HISTORY
Bookkeeping and record-keeping methods, created in response to the
development of trade and commerce, are preserved from ancient and
medieval sources. The first published accounting work was written in 1494
by the Venetian monk Luca Pacioli. Although it disseminated rather than
created knowledge about double-entry bookkeeping, his work summarized
principles that have remained essentially unchanged. Additional accounting
works were published during the 16th century, including early formulations
of the concepts of assets, liabilities, and income.
The Industrial Revolution of the mid-1700s created a need for accounting
techniques that would be adequate to handle mechanization, factorymanufacturing operations, and the mass production of goods and services.
With the emergence in the mid-19th century of large, publicly owned
business corporations, owned by absentee stockholders and administered by
professional managers, the role of accounting was further redefined.
Starting with the mid-20th century, machines particularly computers
performed many of the bookkeeping functions that are vital to accounting
systems. The widespread use of computers broadened the scope of bookkeeping,
and the term data processing now frequently encompasses bookkeeping.
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ACCOUTIG IFORMATIO
Accounting information can be classified into two categories: financial
accounting and managerial accounting. Financial accounting includes
information related to the financial position, the liquidity, and the
profitability of the enterprise. Managerial accounting deals with information
that is not generally disseminated outside the company, such as salary costs,
profit targets, and cost of materials per unit produced. Whereas the general
purpose of financial accounting is to meet the basic information needs of
most external users, managerial accounting provides a wide variety of
specialized reports for division managers, department heads, project
directors, section supervisors, and other managers within a company.
SPECIALIZED ACCOUTIG
Of the various specialized areas of accounting that exist, the three most
important are auditing, income taxation, and nonbusiness organizations.
Auditing is the examination, by an independent accountant, of the financial
data, accounting records, business documents. Nowadays, businesses hire
certified public accountants (CPAs) to perform audit examinations.
Preparing an income-tax return by filling out one or more forms entails
collecting information and presenting data in a coherent manner; therefore, both
individuals and businesses frequently hire accountants to determine their taxes.
A third area of specialization is accounting for nonbusiness organizations,
such as universities, hospitals, churches, trade and professional associations,
and government bodies. These organizations differ from business
enterprises since they do not have a profit orientation.
BOOKKEEPIG AD ACCOUTIG CYCLE
Recording a transaction in a journal marks the starting point for the doubleentry bookkeeping system. In this system the financial structure of an
organization is analyzed as consisting of many interrelated aspects, each of
which is called an account. Every transaction is identified by its two or more
aspects, referred to as its debit and credit.
In the next step, the amounts that appear in the various journals are
transferred in the organizations general ledger a procedure called posting.
In addition to the general ledger, a subsidiary ledger is used to provide
information in greater detail about the accounts in the general ledger.
Posting data to the ledgers is followed by listing the balances of all the
accounts and calculating whether the sum of all the debit balances agrees
with the sum of all the credit balances. This determination is called a trial
balance. This procedure and those that follow it take place at the end of the
fiscal period. Once the trial balance has been prepared, the bookkeeping
portion of the accounting cycle has ended.
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VOCABULARY
bookkeeping
accounting
to record
balance sheet
income statement
statement of cash flow
disclosure
asset
liability
stockholder
to encompass
auditing
income taxation
certified public accountant
to entail
ledger
trial balance
posting

= contabilitate primara
= contabilitate, evidenta contabila
= a inregistra
= bilant contabil
= situatia veniturilor
= situatia, evidenta fluxului numeralului
= difuzare a tuturor informatiilor
= active, capital, valoare
= obligatie
= actionar
= a cuprinde
= verificare contabila de catre un tert
= impozit pe venit
= contabil autorizat
= a determina, a atrage dupa sine
= registru contabil
= balanta de verificare
= transfer de date dintr-un registru jurnal
intr-un registru contabil

GRAMMAR
THE SEQUECE OF TESES
Main clause
Subordinate clause
PRESENT
Any tense required by the meaning
PRESENT PERFECT
FUTURE
The secretary / has explained/ will explain that her boss goes/ will go/
has gone/ went/ had gone to London.
PAST TENSE
PAST PERFECT (anterior action)
PAST TENSE (simultaneous action)
FUTURE-IN-THE-PAST (posterior action)
He said they had communicated some important economic information.
He said they communicated some important economic information.
He said they would communicated some important economic information.
Time Clauses
Main clause
FUTURE

Subordinate clause
PRESENT TENSE
(simultaneous action)
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They will analyse her work experience when they receive her CV.
FUTURE
PRESENT PERFECT
(anterior action)
They will analyse her work experience after they have receive her CV.

DISCUSSIO%
I. Summarizing
Complete the following sentences:
1. Economic information about a business or other entity is communicated
with the help of ... .
2. The two basic systems of modern bookkeeping are ... .
3. The balance sheet, the income statement, and the state of cash flows are 3
financial statements providing ... .
4. Accounting information can be divided into two categories: ... .
5. An examination performed by an independent accountant, auditing
provides information about ... .
6. The first step of a double-entry bookkeeping system is ... .
7. Posting -...- is considered a second step of the accounting cycle.
8. At the end of the fiscal year ... .
II. Match up the terms on the left with the definitions on the right:
1. bookkeeping
2. accounting
3. managerial accounting
4. cost accounting
5. tax accounting
6. auditing

7. creative accounting

a) calculating an individuals or a companys


liability for tax
b) writing down the details of transactions
(debits and credits)
c) keeping financial records, valuing assets
and liabilities
d) preparing budgets and other financial reports
necessary for management
e) inspection and evaluation of accounts
by a second set of accounts
f) using all available accounting procedures and
tricks to disguise the true financial position
of a company
g) working out the unit cost of products,
including materials, labour and all other expenses

III. Use the verb in brackets in the correct form. Pay special attention
to the Sequences of Tenses:
1. When I mentioned the money involved he (to undertake) to do the work.
2. Peters request to his employer to have the next day off (to meet) with a blunt
refusal. 3. He had the grace to admit that he (to be) partly wrong the day before.
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4. As a solicitor said, the money (to be) divided among the brothers and sisters of
the dead man, who (to have) no children. 5. I dont want the boss to overhear us,
but I (to tell) you what happened when we (to be) alone. 6. You will find that the
staff will clock in very punctually, but that they wont do any work till the boss
(to arrive). 7. They agreed they (to talk) business after dinner. 8. I will be entitled
for a pension after I (to work) here for 15 years.
IV. Translate into Romanian:
It matters less that for so long I should have lost sight of him. The years
during which he was struggling to acquire proficiency in a difficult art were
monotonous, and I do not know that there was anything significant in his
shifts to which he was put to earn enough money to keep him. An account
of them would be an account of the things he had seen happen to other
people. I do not think they had any effect on his own character. Judging
from his conversation there was nothing in those years that had made a
particular impression on him. Perhaps when he was in Paris he was too old
to fall a victim to the glamour of his environment.
V. Translate into English:
1. Vor fi efectuate modificari la capitolul salarii. 2. Situatiile financiare au fost
pregatite in conformitate cu reglementarile legale. 3. In fiecare registru se afla
un cont separat pentru persoanele fizice sau juridice cu care compania face
afaceri. 4. Contabilul trebuie sa faca inregistrari zilnice. 5. Contabilitatea
financiara reprezinta un domeniu important al activitatii contabile. 6.
Inregistrarile sunt facute intr-o unitate monetara unica. 7. Venitul este declarat
numai dupa ce marfurile au fost vandute si serviciile realizate.
VI. Write briefly on the following topic:
Differences between the financial and management accounting

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UNIT 11

THE BUSINESS CYCLE


Nowadays, our society is primarily concerned with economic growth and
full employment and price level stability. The highly dynamic character of
our present economy is mainly a result of the technological progress, rapid
increase in productive capacity and a high living standard.
Still, economic growth is not a steady concept. Periods of rapid economic
expansion have been followed by periods of economic instability. At other
times, expansion has given way to recession and depression, that is, falling
levels of employment and output. These fluctuations are referred to as
business cycles. Economists study business cycles because they have a
significant impact on all aspects of an economy.
The term business cycle refers to the recurrent ups and downs in the level of
economic activity extending over several years. Although individual
business cycles have their own unique characteristics, varying in duration
and intensity, they all display common phases
When most businesses operate at capacity levels and real GNP grows
rapidly, a business peak or boom is present. A business peak is
characterized by full employment levels; the price level is likely to rise
during this phase.
The peak is followed by a recession. During the recession phase business
conditions slow, the sales of most businesses fall, real GNP declines, and
employment increases. If depression occurs, price level is likely to fall. As
an old liner says: When your neighbour loses his job its a recession; when
you lose your job its a depression.
The bottom of the contraction phase is referred to as the recessionary
trough. The trough of the recession or depression occurs when output and
employment reach the lowest levels.
When economic conditions begin to improve, the economy enters an
expansionary stage. In this recovery phase, business sales rise, GNP grows
rapidly, and the rate of employment declines. As recovery intensifies, the
price level may begin to rise before there is full employment and full
capacity production. The expansion eventually leads to another business
peak, which may turn to a contraction, beginning a new cycle.
Still, business cycles vary greatly in duration and intensity. That is why,
some economists prefer to talk of business fluctuations, rather than cycles.
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1929-1933 was a prolonged period of economic decline that deserves the title
of the Great Depression, since business activity was undermined for a decade.
By comparison, the 1960s were characterized by lengthy expansion.
Historically, economists have suggested many theories to explain
fluctuations in business activity. Some suggest that major innovations
influence investment and consumption and consequently employment, the
price level, output. Other economists make reference to political events:
wars, for example, can be economically disruptive.
Still, there are economists who say that business cycles are purely monetary
phenomena. Too much money generates inflation while too little money
precipitates a declining output and unemployment.
In a market economy, domestic output and employment depends on
expenditures. Goods and services are produced only if they can be sold
profitably. If total spending is low, most businesses will not find it
profitable to produce a large volume of goods and services. Hence, output,
employment and income levels will be low. A higher level of total spending
will lead to more production, meaning that output, employment and incomes
will be higher also. Once the economy approaches full employment, further
real output gains become more difficult to achieve and added spending
begins to pull up the price level.

VOCABULARY
business cycle
= ciclu economic
boom
= perioada de avant
trough
= limita inferioara a activitatii economice dupa
criza
peak
= limita superioara a activitatii economice
(domestic) output
= productie (interna)
to concern
= a interesa, a privi, a afecta
steady
= ferm, neclintit, uniform
GNP (gross national product) = produs intern brut (PIB)
recession
= recesiune, criza
expenditure
= cheltuieli, cheltuiala

GRAMMAR
DIRECT AD IDIRECT SPEECH
When changing Direct Speech into Indirect Speech, there take place some changes.
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A. Word changes:
Direct Speech
I/we
my/our
this/these
here
now
today
tomorrow
yesterday
ago
next

Indirect Speech
he/she/they
his/her/their
that/those
there
then
that day
the next day
the day before
before
the next

B. Change of tenses
Direct Speech
Indirect Speech
PRESENT
PAST TENSE
I work in this company now, he said
He said he worked in that company then.
PAST TENSE
PAST PERFECT
PRESENT PERFECT
We delivered the products yesterday, the secretary told me.
The secretary told me that they had delivered the products the day before.
You have made the right choice when choosing this particular line she said.
She said we had made the right choice when choosing that particular line.
FUTURE
FUTURE-IN-THE-PAST
We will not lower the price anymore he promised.
He promised that they would not lower the price anymore.

DISCUSSIO%
I. Enlarge on:
1. What are the general characteristics of business cycles? 2. Which of the
theories of the business cycle mentioned in the text do you find the most
convincing? 3. What is the current economic situation in your country? 4.
What can you say about the people you know? Are they optimistic or
pessimistic about the future? Are they saving money for bad times ahead or
are they spending and borrowing too much? Either way, do you think you
can change their behaviour?

59

II. Find the words in the text which mean the following:
 The condition of working for pay
 The process of increasing something in size, extent, scope or number
 The lowest point or period of an economic cycle
 The quality of being unstable, erratic, or unpredictable
 A feature or quality that makes somebody or something recognizable
 The making or creation of something
 The exchange of goods or services for an agreed amount of money
III. Turn the following sentences into the Indirect Speech:
1. She has been working for me for a long time, Tom lets me know.
2. I am drawing a plan now, he explained.
3. You are very efficient, she told me.
4. I shall make this investment tomorrow, Jane said.
5. I have not met my new boss yet, the tourist said.
6. Its high time you understood these things, the manager threatened his employees.
7. You may be right, she said.
8. Lets go; the program is over, he suggested
9. Whose is this idea? my colleague wanted to know.
IV. Turn the following sentences into Direct Speech:
1. She asked him if he would like to go to the concert.
2. She told me to look where I was going as the road was full of holes.
3. I asked if she had looked everywhere and she said she had.
4. He suggested going down to the harbour and seeing if they could hire a boat.
5. He said that if the war broke out he would have to leave the country at once.
6. The clerk in the booking office inquired if I wanted a single or return ticket.
7. They offered me some more wine and I accepted.
8. He said that the new carpet had arrived and asked where he was to put it.
V. Translate the following sentences into English:
1. Cei mai multi economisti considera masa monetara o prima cauza a
schimbarilor conditiilor de afaceri. 2. Unii analisti economici sunt de parere
ca politica joaca un rol major in evolutia ciclului economic. Din punctul lor
de vedere, atunci cand alegerile se apropie, politicienii incearca sa stimuleze
economia reducand taxele si rata dobanzii. Dar in acest process ei pot
genera o perioada de avant economic care nu poate fi sustinuta si care
curand va fi urmata de o criza economica. 3. Perioadele de criza economica
sunt adesea folosite ca mijloace de documentare privind inceputul sau
sfarsitul unui ciclu economic. 4. Perioadele de avant economic si criza au
caracteristici comune dar, in acelasi timp, difera ca durata si gravitate.5.
Cauze importante ale ciclului economic sunt schimbarile majore din
domeniul tehnologiei si productivitatii.
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UNIT 12

INFLATION AND DEFLATION


In economics, inflation and deflation are terms used to describe,
respectively, a decline or an increase in the value of money, in relation to
the goods and services it will buy.
Inflation is a general rise in the price levels of goods and services.
Theoretically, inflation arises from 2 major causes:
The force of demand. This happens when the demand for goods and
services surpasses what is available in the economic system, this
causing the price of goods and services to rise. Increase in demand
for goods and services may arise from many reasons such as: an
increase in money supply, fiscal deficit, increased external demand,
and changes in consumption behavior of the public.
Higher production cost. This incident forces the producer to raise the
prices of goods. Higher production cost may stern from many factors
such as: an increase in wages, natural disaster such as drought, flood,
storm, fire, and war.
Deflation is the circumstance in which price levels of goods and services
decline continuously, the opposite condition from inflation. Deflation can be
caused by several factors such as: rising supply, contracting demand,
declining cost induced by appreciation of domestic currency, tax cut
measures and insufficient money supply in the economic system.
History
Examples of inflation and deflation have occurred throughout history, but
detailed records are not available before the Middle Ages. Economic
historians have identified the 16th to early 17th centuries as a period of longterm inflation. Major changes occurred during the American Revolution,
when prices in the U.S. rose an average of 8.5 percent per month, and during
the French Revolution, when prices in France rose at a rate of 10 percent per
month. These relatively brief flurries were followed by long periods of
alternating international inflations and deflations linked to specific political
and economic events. In the mid-1960s a chronic inflationary trend began in
most industrial nations. It was reversed only during the mid-1980s.

61

Effects
The specific effects of inflation and deflation are mixed and fluctuate over
time. Inflation initially increases business profits, as wages and other costs
lag behind price increases, leading to more capital investment. Personal
spending may increase because of buy now, it will cost later attitudes.
Domestic inflation may temporarily improve the balance of trade if the same
volume of exports can be sold at higher prices. Government spending rises.
Despite these temporary gains, however, inflation eventually disrupts
normal economic activities. Interest rates typically include the anticipated
pace of inflation that increases business costs, discourages consumer
spending, and depresses the value of stocks and bonds. Business investment
suffers as overall economic activity declines. Higher export prices restrict
foreign sales, creating deficits in trade and services and international
currency-exchange problems. Inflation is a major element that causes
employment distortions and widespread economic uncertainty.
The impact of inflation on individuals depends on many variables. People
with relatively fixed incomes suffer during accelerating inflation, while
those with flexible bargaining power may keep the pace or even benefit
from inflation. Borrowers usually benefit while lenders suffer, because
mortgage, personal, business and government loans are paid with money
that loses purchasing power over time and interest rates tend to lag behind
the average rate of price increases.
Stabilization Measures
Any serious antiinflation effort will be difficult, risky, and prolonged.
Stabilization efforts try to offset the0 distorting effects of inflation and
deflation by restoring normal economic activity. To be effective these
initiatives must be sustained rather than merely occasional actions.
Some analysts have recommended the use of various income policies to fight
inflation. Such policies range from mandatory government guidelines for
wages, prices, rents, and interest rates to simple voluntary standards suggested
by the government. Advocates claim that government intervention would
supplement basic monetary and fiscal actions, but critics point to the
ineffectiveness of such control programs. Future stabilization policy initiatives
will likely concentrate on coordinating monetary and fiscal policies and
increasing efforts to restore productivity and develop new technology.

62

VOCABULARY
deflation
to induce
wage
to restore
money supply
domestic currency
flurry
to lag behind
interest rate
stocks
bond
mortgage
loan
to offset
rent
core inflation

= deflaie monetar; penurie monetar (avnd drept


rezultat scderea preurilor)
= a determina, a influenta, a pricinui
= salariu, castig
= a reface, a restaura
= masa monetara
= moneda nationala
= crestere brusca in activitatea de tranzactionare a
unui activ financiar
= a ramane in urma
= rata dobanzii
= actiuni, pachet de actiuni
= obligatiune
= ipoteca
= imprumut, credit
= a compensa, a contrabalansa
= chirie
= inflatie de baza

GRAMMAR
THE PASSIVE VOICE
- be+ past participleThe passive voice is frequently used in English to express ideas that require
a reflexive or impersonal construction in other languages, and in many cases
it is also used where other languages use the active.
ACTIVE VOICE
Managers have often referred to this problem.
PASSIVE VOICE
This problem has been often referred to by managers.
 In some situations to get/to become may be used instead of to be:
The production of this factory is getting/becoming increasingly specialized.
 The passive may be used when we wish to make a statement sound impersonal.
The management of a company might be quite happy to announce:
The new working methods we have introduced will result in higher earnings
for all workers.
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They might well prefer, however, to use the passive in giving the following
information, in order to avoid drawing attention to the fact that they
themselves are responsible:
The new working methods that are to be introduced may result in some
redundancies
Generally, the passive is used when we are interested in what happened to
X rather than in what Y did.

DISCUSSIO%
I. Enlarge on:
1. What is inflation and which are the two major causes that generate it?
2. Enlarge on deflation. 3. Give some examples of inflation that have
occurred so far in history. 4. What are the effects of inflation? 5. Speak
about some stabilization measures.
II. Complete the following sentences to summarize the text above:
1. Inflation and deflation have a monetary nature, both of them being the result of.
2. When goods and services demand surpasses the available economic system
3. The factors generating higher production costs can be
4. The opposite condition from inflation is , a circumstance in which
5. Increase in business profits, personal spending, and the balance of trade is
6. Still, inflation has many more negative effects, such as
7. When speaking about the impact of inflation on individuals, people are
divided into
8. While advocates consider that critics speak about
III. Complete the sentences with a passive construction, using the verbs given:
1. A leader should be a man who can (respect). 2. He (save) from
bankruptcy by the kindness of a friend. 3. The worker claimed that he
(victimize) by his employer for a long time. 4. Customers (ask) to ensure
that they (give) the correct change before leaving the shop, as mistakes
cannot afterwards (rectify). 5. The full impact of the strike (not feel) next
week, by which time present stocks (exhaust). 6. The goods should (handle)
with greater care.
IV. Translate the following sentences into Romanian:
1. I wouldnt need to be lent some money. 2. Why wasnt he offered the
job? 3. Werent you promised a rise in salary at the beginning of the year? 4.
What were you paid for doing the job? 5. You were asked to meet the
manager here, at 9:30, not 10:30. 6. The goods will be sent to you as soon as
they are available.
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V. Translate into English using passive constructions:


1. Mediul de afaceri romanesc este considerat din ce in ce mai stabil si mai
profitabil de catre investitorii englezi datorita faptului ca inflatia este tinuta
sub control iar moneda nationala se intareste in comparatie cu celelalte
valute. 2. Problemele legate de sistemul fiscal, de coruptie sau justitie vor fi
rezolvate atata timp cat Romania va deveni stat membru a Uniunii
Europene. 3. Deflatia este definita ca scadere a nivelului general al
preturilor. 4. Pe langa inflatie si deflatie, astazi se mai vorbeste si despre
dezinflatie, termen care sugereaza o reducere a ratei inflatiei.5. Inflatia de
baza este o masura care se obtine prin eliminarea din inflatia totala a
efectelor unor accidente tranzitorii.
VI. Prepare and give a short talk on the following topics:
Many people say the National Bank should be held responsible for
inflation in Romania. What is your point of view?
Deflation is the opposite condition of inflation.

65

Unit 13

DISTRIBUTION WHOLESALE AND RETAIL


In commerce, distribution refers to the physical movement of commodities
into the channels of trade and industry. The essential function of moving the
goods is very ancient. It is a known fact that long before our medieval fairs
and merchants, civilizations had already been involved in international trade
and intercultural changes.
Today, distribution can be broken down into two main functions: wholesale and retail.
The wholesaler is the link between the producer and the retailer. Without
wholesaling manufacturers could not meet so numerous orders for small
quantities. Thus, the wholesaler buys in large quantities, stores those large
quantities, and resells in small quantities. In this process he needs a
sufficient financial base and requires a high-performing sales service.
Due to this type of distribution the cash and carry sales methods have
been adapted, avoiding thus to deliver small quantities at very high costs.
Generally, the wholesale function has progressively evolved towards
increased efficiency, extending supply from goods to services by regrouping
around a single wholesaler or cluster of wholesalers, retailers operating
under a common trade or brand name.
On the other hand, retailing is the business activity of selling goods and
services directly to consumers. Instead of selling products for resale, a
retailer sells goods or services to individuals making purchases for
themselves or their families. Some retailing businesses sell a combination of
goods and services. For example, an automobile dealership that sells
automobiles (goods) may also provide automobile repairs (services).
Retailers play an important role in getting products from producers to consumers.
Since the retailer has direct contact with the users of goods and services, he can
discover and attempt to meet the needs and preferences of consumers.
To be successful, a retailer must distinguish itself from other retailers and
develop a strategy satisfying the needs and preferences of a specific consumer
group. The strategy involves careful consideration of the product, the quantity
at which to make the product available, the location at which to sell the product,
the time to make the product available, the pricing of the product, and the
appeal that can be generated to attract the consumers interest.
A retailers location must be convenient. In locating retail stores, retailers
consider the market or town in which they want to establish themselves, the
part of town to be in, and the actual site of their store. In some cases, no
66

store is involved because the right location for shopping for a product is the
consumers home or place of business. These retailers without stores,
known as nonstore retailers, act as direct marketers by contacting customers
directly through mail, the Internet, television, telephone, or other means. For
example, telemarketers phone potential customers to market goods and
services. Some retailers send catalogues to homes and businesses so
customers can order merchandise at their convenience. Cybermalls on the
Internet allow customers to browse for goods and services by visiting a site
on the World Wide Web. Finally, vending machine companies act as
nonstore retailers by selling from machines that are located where people
are likely to find them convenient, such as in gas stations or work places.
Generally, retailers must make their products available at times when consumers
are willing and able to buy them. Retailers identify consumer buying patterns and
adjust such things as store hours, inventory levels, and promotional programs to
accommodate consumers. Retailers also identify special times that generate
opportunities to sell merchandise, such as holidays, changing seasons, and special
occasions, such as weddings and school graduations.
There are many kinds of retailers and they can be categorized according to
their store format. Each format has different management and selling
techniques. By using different formats, retailers are able to differentiate
themselves from their competitors. The most common kinds of retailers
include speciality stores, department stores, discount stores, retail chain
stores, and the off-price retailers.
Specialty stores offer a limited number of different product lines, but
provide their customers with an extensive selection of brands and styles
within each product line. Department stores feature a wide variety of
different product lines and a selection of merchandise within each line.
These large stores have many separate departments that sell different types
of merchandise, making a wide variety of goods available to consumers in
one place. Discount retailers focus on attaining a large volume of sales and
in return give up some profit margin per sale.
Retail chain stores are multiple stores that carry much of the same
merchandise and are managed with the same policies. In many cases, chain
stores have the same owner, although, sometimes, individuals own
franchises that are part of a chain. Any kind of store, such as a speciality
store, a department store, or a supermarket, can be a chain store.
Warehouse retailers offer a limited selection of many kinds of products. They
deal in large quantities and tend to have lower prices. Home improvement
centres and warehouse clubs are examples of warehouse retailers.
Off-price retailers sell irregular or flawed merchandise, factory overruns that
is, excess merchandise and other goods at prices below regular retail prices.
67

Supermarkets and convenience stores are also retailers. Supermarkets offer a


broad variety of groceries, as well as non-food items such as toiletries and
school and office supplies. Many supermarkets also offer a wide selection of
ready-to-eat items, such as prepared salads, sandwiches, and entrees.
Convenience stores strategy is to provide customers with a convenient time and
place to buy needed items. Convenience stores are usually small and located on
busy streets to make it easy for customers to make a quick purchase.

VOCABULARY
wholesale
retail
fair
cash and carry
inventory
department store
off-price retailer
profit margin
warehouse
flaw
supply
entrees
franchise
commodity
convenience store
order
label designing
to maintain inventories
to break bulk

= comert cu ridicata
= comert cu amnuntul
= targ commercial
= autoservire
= stoc
= magazin universal
= detailist care comercializeaza marfuri de
calitate inferioara
= marja profitului
= deposit
= defect, cusur
= aprovizionare, provizie
= antreuri, gustari
= franciza
= marfa, articol de comert
= magazin de cartier
= comanda
= concepere a etichetei
= a tine/mentine stocuri
= a repartiza in unitati mici

GRAMMAR
THE SUBJUCTIVE
The form of the subjunctive in Modern English is distinguishable from the
indicative in only three circumstances:
1. in the third person singular of the present indicative,
2. with the verb to be in the present tense, and
3. in the first person singular and third person singular of verb to be in
the past tense.
Additionally, modal auxiliaries do not have present subjunctive forms.
68

Present and past subjunctive


The terms present subjunctive and past subjunctive can be misleading, as they
describe forms rather than meanings: the past and present subjunctives are so
called because they resemble the past and present indicatives, respectively, but
the difference between them is a modal one, not a temporal one.
For example, in "I asked that it be done yesterday," be done (a present
subjunctive) has no present-tense sense; and likewise, in "If that were true,
I'd know it," were (a past subjunctive) has no past-tense sense.
Future subjunctive
A future subjunctive can be constructed using the conjugated form of the
verb "to be" plus the infinitive or with the usage of the modal auxiliary verb
"should". Note that the "were" clauses result in the present conditional,
while the "should" clauses result in the future indicative. For example:
If I were to die tomorrow, then you would inherit everything.
If you were to give the money to me, then I would say no more about it.
If I should go, then will you feed the hens?
If he should fall, who will carry the flag in his place?
Usage
The subjunctive is used in English to express a command, desire,
hypothesis, purpose, doubt or supposition
Set phrases
The subjunctive is used in a number of fixed phrases, relics from an older form
of the language where it was much more common. Common examples are:
as it were; if I were you; be that as it may; (God) bless you!; come
what may; (God) damn it!; far be it from (or for) me; till death do us
part; God save our gracious Queen; long live our noble Queen.
To express a command
I move(d) that the bill be put to a vote.
I ask(ed) that he be shown mercy.
It is (or was) necessary that we not forget our instructions.
Her insistence that he leave seems (or seemed) rude.
Some of these words have two senses: one that introduces a clause in the
indicative, and one that introduces a clause in the subjunctive. For example,
insist can mean assert forcefully and persistently, in which case it introduces
the indicative (He insisted that he was innocent), or it can mean demand
forcefully and persistently, in which case it introduces the subjunctive (He
insisted that he be given the chance to prove it).

69

To express a wish
I wish he were here to help me.
To express a hypothesis
If I were a millionaire, I would buy a sports car.
If he had a car with him, he could drive us there.
The past subjunctive is used following the conjunctions as if and as though
to express a contrary-to-fact situation that reality is supposed to resemble:
She looked as though she were going to kill him, but after glaring for
a bit, she just stormed off.
He tried to explain it as if he knew anything about the subject!
As seen in the second of these examples, these constructions are often used
derisively.
To express a purpose
The conjunction lest, indicating a negative purpose, generally introduces a
subjunctive clause:
I eat lest I die.
I'll place the book back on the shelf, lest it get lost.
The conjunction in order that, indicating a positive purpose, also sometimes
introduces a subjunctive clause, though it more commonly introduces a
clause using the auxiliary verb may (or in the past tense, might):
I'm putting your dinner in the oven in order that it (may) keep warm.
He wrote it in his diary in order that he (might) remember.
To express a doubt or supposition
The subjunctive is sometimes used after other conjunctions to express doubt or
supposition, although this usage is nowadays more often replaced by the indicative.
Whoever he be, he shall not go unpunished.

DISCUSSIO%
I. Enlarge on :
1. What is the difference between wholesale distribution and retail distribution?
Define each of them. 2. How many types of retailers do you know? Speak
about each of them. 3. What strategies can a retailer make use of? 4. What are
nonstore retailers? 5. What kind of retailer do you prefer and why?
II. Insert the following words in the text below:
wholesalers; goods; promotion; label designing; in charge of; amount of;
manufacturer; paid for

70

The chief functions of wholesalers are selling to retailers, or industrial,


institutional, and professional users. In addition to selling, the functions
frequently performed by include providing storage facilities and maintaining
inventories of goods, extending credit, physically assembling, sorting, and
grading in large lots, breaking bulk and redistributing in smaller lots, delivery.
They may also be various types of , such as advertising and .
The wholesaler aids the with his problems of finance. By buying and
paying promptly for goods as they are produced, the wholesaler lessens
substantially the capital needed by the manufacturer. Capital
requirements would be much larger if the manufacturer had to hold the
goods until they are needed and by retailers.
III. Put the verbs in brackets into the correct form:
1. He talks as if he (do) all the work himself, but in fact Tom and I did most of it. 2.
He always behaves as though he (address) a public meeting. 3. If only I (be) insured.
4. Id rather he (pay) me by cash weekly. 5. I wish I (not run) this company.
IV. Translate the following sentences into Romanian. Pay special
attention to the use of Subjunctive:
1. This man, be it known, did his best to help his office colleagues. 2. That she
should have behaved like that astounds us. 3. We spoke in a whisper lest the
manager should hear us. 4. Whoever might inquire about me, tell them I am out
of town. 5. Unless the government had got inflation under control, the prices
would have soared. 6. The loan officer demanded that all the documents
accompanying the loan application should be presented on the 8th of June. 7. It
is ridiculous that he should be appointed as our representative. 8. Everybody
agreed that the documents should be signed after the meeting.
V. Translate the following sentences into English:
1. Proprietarii de magazine ar dori ca fabricantii sa aprovizioneze orice
punct de vanzare, fara deosebire. 2. Trei factori sunt necesari pentru
succesul magazinelor : autoservirea, vanzarea cu pret redus si facilitatile de
parcare. 3. Este obligatoriu ca magazinele de cartier sa aiba program de
functionare prelungit (extensive business hours). 4. Printre numeroasele
caracteristici ale distributiei din zilele noastre, se poate mentiona succesul
articolelor care nu poarta marca fabricantului, ci pe cea a distribuitorului sau
un nume menit sa le deosebeasca de asa-numitele produse de marca :
acestea se numesc produse generice sau produse anonime.
VI. Speak about: By using different store formats, retailers differentiate
themselves from their competitors.

71

UNIT 14

INTERNATIONAL TRADE
Foreign trade refers to the exchange of goods and services between nations.
Goods can be defined as finished products, as intermediate goods used in
producing other goods, or as agricultural products and foodstuffs.
International trade enables a nation to specialize in those goods it can
produce most cheaply and efficiently. Trade also enables a country to
consume more than it would be able to produce if it depended only on its
own resources. Finally, trade enlarges the potential market for the goods of a
particular economy. Trade has always been the major force behind the
economic relations among nations.
Although foreign trade was an important part of ancient and medieval
economies, it acquired new significance after about 1500. As empires and
colonies were established by European countries, trade became an arm of
governmental policy. The wealth of a country was measured in terms of the
goods it possessed, particularly gold and precious metals. The objective of
an empire was to acquire as much wealth as possible in return for as little
expense as possible. This form of international trade, called mercantilism,
was commonplace in the 16th and 17th centuries.
International trade began to assume its present form with the establishment
of nation-states in the 17th and 18th centuries. Heads of state discovered that
by promoting foreign trade they could mutually increase the wealth, and
thus the power, of their nations.
In 1776 the Scottish economist Adam Smith, in The Wealth of Nations,
expressed his opinion that in order to meet a constantly growing demand for
goods, a countrys scarce resources must be allocated efficiently. According
to his theory, a country that trades internationally should specialize in
producing only those goods in which it has absolutely advantage that is,
those goods it can produce more cheaply than can its trading partners. The
country can then export a portion of those goods and, in turn, import goods
that its trading partners produce more cheaply. Smiths work is the
foundation of the classical school of economic thought.
Because foreign trade is such an integral part of a nations economy,
governmental restrictions are sometimes necessary to protect what are regarded
as national interests. Since the beginnings of international trade, nations have
striven to achieve and maintain a favourable balance of trade that is, to export
more than they import. In an effort to improve its balance of international
72

payments (to increase reserves of its own currency and reduce the amount held
by foreigners), a country may attempt to limit imports. Such a policy aims to
control the amount of currency that leaves the country.
One method of limiting imports is simply to close the ports of entry into a
country. More commonly, maximum allowable import quantities may be set
for specific products. Such quantity restrictions are known as quotas. They
may also be used to limit the amount of foreign or domestic currency that is
permitted to cross national borders.
Another common way of restricting imports is by imposing tariffs, or taxes on
imported goods. A tariff, paid by the buyer of the imported product, makes the
price higher for that item in the country that imported it. The taxes collected on
the imported goods also increase revenues for the nations government.
In recent years the use of nontariffs barriers to trade has increased. Although
these barriers are not administered by the government with the intention of
regulating trade, they nevertheless have that result. Such nontariffs barriers
include government health and safety regulations, business codes of
conduct, and domestic tax policies.
Several trade communities have been established to promote trade among
countries that have common economic and political interests or are located
in a particular region. Within these trade groups, preferential tariffs are
administered that favour member countries over nonmembers. NonCommunist countries encouraged trade-promoting programs to stimulate the
redevelopment of economies ruined during World War II. The North
American Free Trade Agreement (NAFTA), ratified by Mexico, the United
States, and Canada in 1993, was designed to bring about a free market in
everything produced and consumed in the three countries.
The largest trading community in the world began in Europe in 1948 with
the founding of the customs union known as Benelux-Belgium, the
Netherlands, and Luxembourg. In 1951 France, West Germany, and the
Benelux countries formed the European Coal and Steel Community
(ECSC). These nations established the European Economic Community,
often called the Common Market, in 1957. The ECSC, EEC, and other
entities merged in 1967 to the form of the European Community, which was
succeeded in 1993 by the European Union.

VOCABULARY
wealth
to strive
quota
revenue

= avere, bogatie, prosperitate


= a se stradui, a se lupta
= cantitate de marfuri
= venit
73

nontariff barrier
to merge
tariff

= politica nontarifara
= a se uni, a fuziona
= taxa prelevata aupra importului/exportului, tarif

DISCUSSIO%
I. Enlarge on:
1. Why do most governments impose tariffs and/or quotas? 2. What does
Romania import? 3. What are your countrys major exports? 4. Which
countries are its major trading partners? 5. Would total free trade result in
the creation of jobs, or in unemployment in your country?
II. Find the words in the text which mean the following:
 An association of countries that enjoy free trade among themselves and
agree on tariffs for nonmemebrs
 A program of actions adopted by an individual, group, or government,
or the set of principles on which they are based
 The amount of money spent in order to buy or do something
 Done, felt, or expressed by each toward or with regard to the other
 Being in insufficient supply
 Something that limits or controls something else
 An economic association established, typically between nations, with
the aim of removing or reducing trade barriers
III. Choose the correct answer. Only one answer is correct:
1. Must we this plan tonight ?
a) to do
b) to make
c) do
d) make
2. The last time to the managers office was last week.
a) I have gone
b) I have been
c) I was
d) I will go
3. We money to make further investments.
a) had been saving
b) saved
c) had saved
d) have been saving
4. Two office mates who at that time saw her incident with the boss.
a) looked
b) were looking
c) had been looking d) will look
5. Why so fast today. He usually drives very carefully.
a) does she drive
b) is she driving
c) will she drive d) was she driving
6. Production bad this week.
a) was
b) has been
c) had been
d) should be

74

IV. Translate the following sentences into English:


1. Balanta de plati este un document contabil ce prezinta intr-o forma scurta
tranzactiile economice duse la capat intre locuitorii unei tari si cei din restul
lumii. 2. Cand vorbim despre economie cu prietenii discutam frecvent de
comportamentul strainilor fata de produsele noastre. 3. Comertul
international este benefic pentru toate tarile implicate chiar daca exista
sectoare, companii sau indivizi care se vad prejudiciati. 4. Conditiile
necesare pentru imbunatatirea schimburilor comerciale tin de liberalizarea
preturilor, reducerea inflatiei si de diminuarea controlului statului asupra
economiei. 5. Un volum de importuri superior cantitatii exportate nu implica
neaparat un dezavantaj pentru economia tarii in cauza.
V. Study case
Imagine and describe a country that does not import anything, where only
locally produced food and textiles and products are available.

75

UNIT 15

HUMAN RESOURCES MANAGEMENT


Human resources management consists of a broad range of activities and
responsibilities relating to the persons employed by the business enterprise.
The functions of human resources management are not new. Until recent
years, the management of human resources was carried out under the label
of personnel management. Personnel management has been needed ever
since American industry became large and required many employees.
However, because of the increased awareness of the importance of human
factors in management, the need for increased productivity, and the complex
nature of personnel decisions, many business enterprises today are paying
greater attention to the impact of human resources management.
The primary goal of human resources/personnel management is the
development of a well-motivated and effective work force. Human resources
management requires the attention of top management and line supervisors as
well as persons directly associated with the personnel department.
Responsibilities of the personnel department include participation with other
executives in developing human resources management policies. The personnel
department provides staff assistance in the recruitment, selection, induction,
and training of employees. The department acts as adviser to management in
matters of employee morale and employee management relations.
The personnel department performs five basic steps in the hiring and
placement of employees:
1.Working with line managers in determining job specifications.
2. Recruiting job applicants.
3. Carrying out the selection process.
4. Inducting new employees.
5. Coordinating a program of employee training.
The personnel department normally performs the function of job analysis to
ensure that wages are fair. The first step in job analysis is to draw up a job
description covering the essential elements of each specific job. Then job
evaluation ranks each job in relation to other jobs in the enterprise.
Following job evaluation, the wage scale is drawn up.
A performance rating system is used to evaluate each employee's performance.
This is used to make individual merit increases in wages within job
classifications and to guide management in selecting employees for promotion.
Seniority and ability are important considerations in promotion policy.
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The personnel department should formulate policy on transfers of employees from one job to another, between departments, from one work shift
to another, or for remedial reasons.
Downgrading and layoffs are important areas relating to workers and should
be covered by personnel policies.
A disciplinary policy should provide a clear statement of what is expected
of employees and should be fairly administered .
When the enterprises employees are unionized, the interaction between the
union and management is called labor relations. The labor relations director
is usually part of the personnel department.
When workers are unionized, the personnel department can assist management in developing positive policies regarding organized labor and can
aid supervisors in administering those policies.
The personnel department functions in a staff capacity. The department is usually
headed by a vice president who reports to the president of the enterprise.
Depending on the size of the enterprise, a number of other persons may perform
specialized human resources management functions to promote a positive work
climate and to improve the enterprises profitability.

VOCABULARY
broad
range
to carry out
to pay attention
to hire
wages
to draw-up
layoff
downgrade
to assist
induction

= larg
= gam
= a nfptui; a duce la ndeplinire
= a acorda atenie
= a angaja
= salariu
= a ntocmi; a alctui
= concediere temporar
= reducere, micorare
= a ajuta
= instalare; iniiere

DISCUSSIO%
I. Enlarge on:
a) What is the primary goal of human resources management ?
b) What specific responsabilities typically are assigned to the personnel
department ?
c) What is the relationship between personnel management and labour
relations ?
d) How is human resources department organized ?
77

II. Give synonyms to the following words:


broad; to employ; personnel; goal; to evaluate; to provide; to be headed
III. Fill in the blanks with suitable words from the box:
assistance; title; employees; services; orders; activities;
president; responsabilities
The personnel department provides a variety of human resources
management _________, along with advice and _________. Normally this
department is not responsible for giving _________ to line supervisors in
the production or marketing departments.
The head of the department usually has the ________ of vice president for
personnel administration or vice president for human resources
management. Whatever the title, this executive should report to the _______
of the enterprise if human resources management is to be considered part of
the top managements ________. Depending on the size of the enterprise
and the number of _________, there may be a variety of managerial and
nonmanagerial persons involved in the departments ________.
IV. In the following sentences, the underlined verb form is incorrect.
Rewrite the forms correctly:
1. I have read the thriller by John Grisham; I cant wait to get to the end.
2. We will see Macbeth at the National Theatre tomorrow night, Clares just
got the tickets.
3. Hes looking at the house next week, so hell tell us about it after he will
have seen it.
4. Im sorry Im so dirty. I cleaned out the garage all morning.
5. I never stop working; if only my life isnt so busy !
6. By the time he retires in September Tom is working there for thirty years.
7. Its getting late, its time we had gone home.
8. Iam living here since last July.
V. Translate into English:
Supravieuirea oricrei economii naionale i, cu att mai mult, prosperitatea
ei i bunstarea membrilor acesteia, sunt influenate n mod direct i n mare
msur de performanele firmelor din economia respectiv. Acestea depind, la
rndul lor, ntr-o msur nsemnat de valoarea managementului, de calitatea
gestionrii resurselor, ntre care un loc nsemnat revine resurselor umane.
Resursele umane trebuie s fie astfel gestionate nct s devin factorul
motor al progresului unitii conduse. n ceea ce privete ara noastr,
problemele gestionrii resurselor umane comport dificulti, din cauza
78

greutilor inerente trecerii de la un sistem politico economic de comand,


centralizat - n care iniiativa managerilor din ntreprinderi era limitat la
un sistem descentralizat, specific ecomiei de pia.
VI. Study case.
Asume the role of the human resources manager of a company. Select the
profite of the company, its size according to its turnover and the number of
employees and draw up a recruitment, selection and training programme for
employees.

79

UNIT 16

EMPLOYMENT FILE
When a company needs to recruit or employ new people, it may decide to
advertise the job or position in the appointment section of a newspaper.
People who are interested can then apply for the job by sending in a letter of
application or covering letter (U.S. cover letter) and a curriculum vitae or
CV (U.S. rsum) containing details of their education and experience. A
company may also ask candidates to complete a standard application form.
The companys Human Resources department will then select the most
suitable applications and prepare a short list of candidates or applicants,
who are invited to attend an interview. Another way for a company to hire is
by using the services of a recruitment agency (U.S. search firm) who will
provide them with a list of suitable candidates.
The letter of application. The letter of application can be as important as
the CV in that it often provides the first direct contact between a candidate
and an employer.
The letter must be correctly addressed, sensibly punctuated and properly
spelt, business like in appearance. A well-typed application attracts attention
and creates a favourable first impression. It is a letter in which you are
trying to sell your services in much the same way as a sales representative
sells the products of his firm. Therefore it must be attractive, persuasive and
convincing, but always truthful and straightforward.
The letter of application normally contains four paragraphs in which you should:
- conform that you wish to apply and say where you learned about the job;
- say why you are interested in the position and relate your interests to those
of the company;
- show that you can contribute to the job by highlighting your most relevant
skills and experience;
- indicate your willingness to attend an interview and possibly say when
you would be free to attend.
Curriculum Vitae. The resume or personal data sheet is an important document
that can open the door for you in getting a job interview. The curriculum
vitae/Resume/will provide your personal details and a summary of your
qualifications. The items summarized must consist only of bare facts, and be
grouped under concise headings to make for quick and easy reference. You will
include facts about your education, experience, training and special
qualifications, present and previous employment with dates. You may highlight
80

specific course work or research if related to job objective, particularly if you


have little or no work experience. Include all experience relating to your
objective. In addition to past employment, social experience can demonstrate
related work skills. Omit dates and places unless relevant. This is not intended as
a work history which belongs on an application form. The resume offers
information that you desire to give to the prospective employer with the emphasis
you wish to make. Use a narrative, condensed style without unnecessary words.
A resume is a brief statement of capabilities you have to offer an employer. To
aid the busy executive, it should be limited to one page. Personal details will
include birthdate, marital status, the number of children health, outside interests.
References should be given at the end of it and are usually indicated with
Available upon request. An applicant with business experience should refer to
present or previous employers. You should remember that a resume doesnt get
you a job, but it can attract enough attention to get you an interview.
Exhibit 1
(Resume) CV
1. Personal Details
Lucy Brown
52 Sunset Street
New Port EH45BT
England
Phone: 0131 455 0349
E-mail: lucy.brown@caledonia.net
2. Education
2001-2002
London Chamber of Commerce and Industry
Diploma in Public Relations
1998-2001
University of London
BA (Honours) in Journalism and Media
Studies (Class II)
1991-1998
Broadfield School, Brighton
A levels in English (A), German (B), History (B)
3. Professional Experience
2005-present
Public Relations Officer
Responsible for researching an writing articles on all
aspects of the Trusts activities and ensuring their
distribution to the press Editor of the Trusts monthly
journal in charge of relations with European
environmental agencies

81

2002-2005

Summers of
2000 and 2001

4. Skills
IT
Languages
Additional
5. Activities

Press Officer, London Tourist Board


Preparation of promotional materials and brochures
Co-ordination of media coverage
The London Tribune newspapers
Two three month training periods as assistant to the
Sports Editor
Arranging and conducting interviews
Preparation of articles covering local community sports
events
Office 2000 and Windows NT, Excel, Internet, Powerpoint
Fluent German and proficient in French
Driving licence (car and motocycle)
Skiing, swimming
Ski Instructor (grade II)
Secretary of the local branch of Action, an association
organising sports activities for disabled children

6. References
Geoffrey Williams
Proffessor of Journalism
University of London

Brenda Denholn
Sports Editor
The London Tribune

Exhibit 2

March 15th 2004

Personnel Manager
Dot.Com.Solutions Ltd.
8, Roberts Street
Bredford, MAO 1730
Dear Mr. Anderson,
I am writing to confirm my interest in the position of Sales Manager that
was posted on the internet last week. As I mentioned during our phone
conversation, I would very much like to have the opportunity to work abroad
again and feel that my years of employment with the company here in Britain
would be a key asset for our international sales efforts.
I am confident that I would be able to head up an operation of this type, as I
have been instrumental in developing a solid customer base in my region and
have now successfully managed our extensive sales network for a number of
years. My previous assignment in London gave me a lot of insights into the
82

challenges of working with a young team, which I think will be equally relevant
in the context of this job.
I have contacted my line manager to inform him of my application and he
has agreed to release me from my current duties as of August.
In the meantime, should you require any further information, please do not
hesitate to contact me here.
Yours sincerely,
Lucy Brown

VOCABULARY
to recruit
rsum
recruitment agency
to apply for a job
application
applicant
application form
to attend an interview
to hire
employment file
covering letter (AE)
letter of application (BE)
to highlight
persuasive
previous

= a recruta, a selecta
= memoriu de activitate
= agenie de recrutare a forei de munc
= a solicita un post
= cerere scris
= solicitant, candidat
= formular de cerere
= a participa la un interviu
= a angaja
= dosar de angajare
= cerere de angajare
= cerere de angajare
= a evidenia, a accentua
= convingtor
= anterior

GRAMMAR
GERUD OR IFIITIVE ?
- Some verbs can be followed either by a gerund or an infinitive
begin
cant hear
continue
hate like
love
remember
start
stop
try
I hate to work long hours.
I hate working long hours.
- Some of these verbs have different meanings depending on whether they are
used with the gerund or infinitive.
to remember + gerund = to remember something done in the past
to remember + infinitive = not to forget to do something
83

I remember seeing that advertisement in the newspaper last year.


I must remember to cancel the order before one oclock.
to try + gerund = to do something as an experiment, for example to see if it is
successful or enjoyable
to try + infinitive = to make an attempt to do something
Try asking Sally. She may be able to help you
I tried not to laugh.
come + ing = move in a particular way
come + to inf. = gradually start doing something
dread + ing = be fearful about a future action
dread + to inf. (used only with think)
regret + ing = be sorry about an action in the past
regret + to inf. (with say, tell, inform and announce)
- be sorry about a present action
stop + ing = finish an action
stop + to inf. = interrupt an action in order to do something else

DISCUSSIO%
I. Enlarge on:
a. The Letter of Application
b. The Rsum / the CV (Curriculum Vitae)
II. Give the verbs from the following nouns:
employer, interview, application, experience, qualification, summary,
examination, applicant, heading, recruitment, information, appreciation,
education,
advertisement,
willingness,
impression,
arrangement,
recommendation, appointment.
III. In the following letter put the verbs in brackets into the correct form:
-ing form, to infinitive or infinitive without to.
While (1) _________ (stay) with friends in Ireland, I met a very pretty girl
at a dance and she agreed (2) _________ (let) me (3) _________ (walk) her
home. As we made our way along the cliff path, a full moon lit the harbour.
It was so romantic and what a picture ! I asked my companion if shed mind
(4) ________ (wait) a few minutes while I ran (5) ________ (fetch) my
camera from my friends house. When I returned, shed gone.
I decided (6) ________ (take) a picture anyway. Was it worth (7) ________
(take) ? Well it won first prize in a national photographic competition !

84

IV. Translate into English:


a) Scrisorile elaborate n scopul cutrii unui loc de munc nu au o structur
tip i nu conin informaii complementare celor din C.V., formulate ntr-un
stil mai direct. Avnd n vedere scopul acestora i anume obinerea unui
interviu, att coninutul, ct i aspectul scrisorii sunt la fel de importante.
Cel cruia i este adresat scrisoarea trebuie s-i fac o impresie bun
despre expeditor i, mai ales, s doreasc s-l cunoasc i s discute cu el. n
ceea ce privete exprimarea sunt preferate formulrile oficiale. Acest lucru
are avantajul c, pe lng faptul c pstreaz convenienele, poate fi uor i
repede citit. Redactarea scrisorilor are n vedere i o prezentare atrgtoare,
care s-l pun ntr-o lumin favorabil pe solicitant.
b) Domnule Director,
Am aflat din ziarul local c firma dvs., care n ultimii ani a cunoscut o
puternic dezvoltare, caut un expert financiar cu experien.
Timp de 15 ani am lucrat n cadrul Direciei Generale a Impozitelor i
Taxelor, perioad care mi-a adus o bogat experien n domeniu.
Cunoaterea sectorului financiar, mi permite s cred c vei fi interesat n
candidatura mea.
C.V.-ul anexat, v ofer detalii asupra activitii mele.
Spernd s v ntlnesc n curnd, v rog domnule director, s primii
salutrile mele distinse.
Semntura,

85

UNIT 17

JOB INTERVIEWS
The employment interview provides an opportunity for you to expand an
information provided in your rsum, to demonstrate your ability to
communicate verbally, and to learn more about job opportunities in the
enterprise. In order to be offered a position almost everybody has to attend
an interview. The interviewers job is to evaluate people, to find the right
person in the right job, to assess the applicants qualities.
Every interview has an opening, a body and a close.
In the opening (two to five minutes), the interviewers will try to set you at
case. They will open with easy questions about your major interests or by
telling you about the job of the company. During the interview you have to
control your wear, your posture, your handshake and what to say.
The body of the interview (10 to 25 minutes) is intended to highlight your
qualifications and experience. The interviewer will give you the opportunity
to raise questions. You can use these questions to demonstrate interest and
enthusiasm, as well as to learn and impart information. Use questions very
carefully. It is usually unwise to try to control the interview.
Sometimes even testing may be part of an interview.
In the close of the interview (two or five minutes), the interviewer will inform
you what may happen next. If the employer is undecided do not pressure. If the
interviewer finally say no keep the door opened and bridges unburned by
saying: If the situation changes, please let me know or Could you keep my
rsum on hand for other openings in your office or for referral to others ?.
Otherwise you may close with an assertive statement: I hope to get a
chance to work in your company.
There are two different types of interviews. The screening interview places the
emphasis on qualifications. The selection interview places the emphasis on you.
That is why you have to prepare for the interview beforehand. Some
characteristics should be displayed to have a successful interview:
- be neat and well groomed;
- be friendly, relaxed but not overly casual;
- be more interested in the work involved in the job rather than in
salary and benefits;
- be ready to articulate the goals you have proposed;
- wear appropriate clothes;
86

- try to be yourself and sit up straight, look at people when you talk,
dont mumble, dont smoke even invited to.
An interview deliberately puts the applicant under stress by the questions he
may be asked. Sometimes the interviewer may be more interested in the
applicants reaction to some questions than in the answers he gives.
Here are some possible interview questions:
1. What are your long-range career objectives ?
2. How do you plan to achieve your career goals ?
3. How would you describe yourself ? Use this chance to state things
about yourself that you want the interviewer to know.
4. Why did you decide to seek a position with this company ? Use it as an
opportunity to state your qualifications and experience for the job.
5. What college subjects did you like best ? Least ? Why ?
6. How do you spend your spare time ? What are your hobbies ?
7. What do you know about our company ?
8. What do you feel about working overtime ?
9. What two or three accomplishments have given you the most satisfaction ?
Pick those accomplishments that gave you satisfaction, to create the
image you want to project.
10. What do you see yourself doing the years from now ?
11. What have you done to show initiative and willingness to work ?
In an employment interview you may use questions to demonstrate your
interest and enthusiasm.
Regarding job content (presuming you have researched the company and
possible positions):
1. Would you mind describing the duties of this job for me ?
2. What are the primary results you would like to see me produce ?
Regarding your interest in the job and other closing questions:
1. Can you tell me the prospects for advancement beyond this position ?
2. What is the pay range for this position ?
3. I greatly appreciate your offer. How soon do you need a decision ?
Regarding benefits (only after the interviewer has indicated an interest in
offering you a job):
Can you tell me briefly about your benefits program ? (Vacations,
insurance, retirement, profit sharing, bonuses, hospitalization, etc.).
It is an occasion to cover things that the interviewer hasnt brought up
during the interview.

87

Dress for Success


In spite of the old adage, Dont judge a book by its cover, many business
managers apparently do just that when deciding whether to hire or promote
people in business. Surveys consistently reveal that how you dress may
determine whether you are hired or promoted.
As women have become more successful in business, they are relaxing from
the somber man-tailored suits and blouses with big bows at the neck that
seemed essential to breaking into a male-dominated managerial world.
Female executives still wear dark suits about 50 percent of the time, but
tailored dresses and skirts and jackets are also quite acceptable. Still frowned
on are clothes that are sexy (low-cut necklines, too-short or too tight skirts),
cute (the little girl look), or very feminine (too flowery, frilly, or lacey).
Women also are discouraged from wearing much makeup or jewelry.
John T. Molloy, author of the Dress for Success books, found in his studies that
female executives who dressed in extremely feminine manner were paid less
and promoted less frequently. The highest paid women dressed in a manner that
was described as professional, dull, conservative, non-sexy of non-frilly.
Men are judged harshly if they look sloppy, too causal, or too flashy. Mens
biggest dress faults are poor-fitting or very outdated suits, white or too-bright
socks, or scruffy shoes. To be successful, a man does not have to conform to
the latest fashions, but he should wear clothes that convey a professional
image. Molloy said, The man who run America run in blue, gray, and dull. If
you try to spruce up the look, youre in trouble.
Questions:
1. Why is how you dress an important factor in being hired or promoted in
the business world ?
2. A recruiting manager said that the wrong clothing commands attention
and therefore distracts from what may be a very important discussion.
Discuss this statement in connection with the different of inappropriate
dress mentioned in this business brief.

VOCABULARY
to asses
applicant
to articulate
to mumble
grade
to be assertive
posture
to highlight

= a evalua, a estima
= solicitant
= a exprima
= a murmura
= not
= a fi insistent, pretenios, revendicativ
= inut
= a clarifica, a scoate n eviden
88

to place the emphasis


neat
appropiate
goal
overtime
accomplishment
retirement
adage
to frown
frill
lacey
harsh
scruffy
to spruce up
sloppy

= a pune accentul pe
= curat, ngrijit
= adecvat, cuvenit
= obiectiv, scop
= peste program
= realizare, mplinire
= pensionare
= zical, proverb
= a se ncrunta
= volna, zorzoane
= dantelat
= aspru
= murdar, nengrijit
= a dichisi; a spilcui
= neglijent, dezordonat

GRAMMAR
EMPHATIC STRUCTURES
I. Inversion
The following expressions can be placed first in a clause in order to give more
emphasis or a more dramatic effect. The subject and verb are then inverted. If
there is no auxiliary verb, do/does or did are used as in a question.
Rarely/seldom ________
Never ________
At no time _______
Under no circumstances ________
On no account ________
Nobody ________

nowhere (else) ______


not (a soul/a thing etc) _______
not only ______ but also______
hardly/scarcely _______ when _____
no sooner _______ than ______
in vain _______

e.g.

Never have I seen such an awful sight !


Not a single word would he say on the subject.
Hardly had I sat down when the door bell rang.
The following additional expressions can also be used in this way in certain
circumstances.
Only before adverb of time (now, later etc.) or when qualifying an
introductory phrase.
e.g.
Only now do I understand why you behaved as you did.
Only in Cornwall can you buy real Cornish pasties.
89

Little, few, so, such when nor followed by a noun.


e.g.
Little do you know whats in store for you !
Such is fate !
So strong was the wind that I could not control the car.

DISCUSSIO%
I. Enlarge on:
a) What facts about yourself you want the interviewer to know.
b) How to act during an interview ?
c) Parts of an interview.
II. Match the words and expressions in the box with the headings below:
job seekers

doctorate

initiative

interviewees

bonus

candidates

company car

job offer

applicants

advertisement

diploma

independence

confidence

qualifications

interview

pension plan

shortlist

enthusiasm

degree

health insurance

1. bring benefits
2. education
3. stages in recruiting
4. personal qualities
5. people looking for work
III. Fill in the blanks with suitable words:
Headhunters or executive search firms specialise in finding the right person
for the right job. When a company wishes to 1 _________ a new person for
an important 2 _________ it may use the services of such a firm. The
advantages for the 3 _________ are that it does not have to organise the
costly and time-consuming process of advertising, selecting and
interviewing suitable 4 _________. In some cases, the search firm may
already have a list of people with the appropriate 5 __________ for the job.
If this is not the case, then it may act as a consultant, advising on or even
organising, testing and simulations to evaluate the candidates 6 _________
in order to select the most 7 ________ person for the job.

90

IV. Read the following letter, find the mistakes and rewrite it correctly
Dear Sir,
In reference to your advertisement in the Sunday Times of October the 22nd, I
would like to apply for the 3 month training period from June to September.
I am 23 years, I have two years of University (Economy and Law). I also
followed English business courses at the British Institute.
I had a previous experience last summer in an office automation equipment
company in the accountancy. It gave me a good approach of the running and
the relationship with a bank, I am also interested by the Stock Exchange. I
created an investment club with friends, where we gamble in stock.
I hope to suit your requirements. Please find attached a curriculum vitae and I
look forward to hear from you.
Best wishes,
V. Rewrite these sentences, beginning with the words in brackets.
a. He managed to offend everybody and then left without even saying goodbye.
(Not only).
b. Its not often you see people in traditional dress like that these days. (Rarely).
c. As soon as we went to sleep the baby began to cry. (No sooner).
d. I forbid you to touch anything on this desk. (On no account).
e. I havent heard a word from him since he left eight weeks ago. (Not a word).
f. The young man had no sooner made the statement than be regretted telling
it. (No sooner).
VI. Translate into English:
Interviul declaneaz reacii previzibile la cei mai muli dintre noi, o
senzaie de nelinite i dorina ca totul s se termine ct mai repede, iar viaa
s-i reia cursul normal. Cnd eti chemat la un interviu n vederea ocuprii
unui post, poi face foarte multe pentru a ameliora aceast senzaie de
anxietate i a modifica situaia astfel nct s-i faci fa.
Orict de initimidante i stresante ar fi interviurile, ele i ofer o ocazie
excelent de a-i impresiona auditoriul cu prestaia ta, de a arta c eti sigur
pe tine i convingtor, ns fii atent s nu creezi un personaj neconform cu
realitatea, care nu seamn deloc cu tine.
Culegerea informaiilor de care ai nevoie, pregtirea mental i anticiparea
ntrebrilor, care, probabil, i se vor pune - iat elementele cheie ale succesului.
Amintete-i c aproape toate ntrebrile ce i se vor pune au ca scop aflarea mai
multor lucruri despre tine, a msurii n care eti potrivit pentru un anumit post i a
probabilitii de a te adapta bine n cadrul organizaiei.

91

UNIT 18

INQUIRIES FOR GOODS


Business transactions in most cases can begin with an inquiry.
Inquiries are documents by which a dialogue between two partners starts. These
inquiries are drawn up and sent out by those companies or firms which show
their desire to buy some goods or services. They draw up inquiries in order to
find the best sources of supply, requesting for information or quotations. Some
companies use printed inquiry forms and they are filled in when required.
The addresses of the prospective suppliers can be recommended by some other
customers or can be obtained by advertisement in newspapers or reviews,
catalogues, foreign agencies, commercial offices abroad, internet etc.
According to general or specific information which is requested from the
prospective supplier by means of inquiries, these can be:
General Inquiries requesting for the latest price-list, catalogues, patterns,
specimens. In this case, the inquiry letter can be a short one.
Specific Inquiries by which we can get more details concerning description
of the goods, quantity, packing, terms of delivery. They also request for a
quotation containing details about the latest prices, terms of payment,
discount for prompt cash, reductions made for large orders. Thus, the
specific inquiry letter should be larger than the general inquiry one.
The inquiry letter must be clear and convincing.
Your letter should open by indicating how you became aware of the firm you
are contacting. For example, you can mention you saw an advertisement in a
newspaper or in a review, a business contact recommended the firm, you found
its name from a list provided by the Embassy or Chamber of Commerce. If you
are not already known on the market, you could give some details concerning
the kind of activity your company provides.
Then explain in simple language, why you are writing. You say that you
would like to receive a catalogue, a price list, information concerning
discounts, delivery terms, methods of payment etc.
If you want to get more profitable terms of payment or if you ask for substantial
discounts, the inquiry letter will contain those sentences that could be attractive for
the potential supplier. In such a case should also use sentences to suggest the
prospective of a new and permanent market or long term business relations.
You should make a detailed description of the goods in order to avoid
receiving unsuitable goods.
92

Finally, close the letter by thanking them in advance for taking the time in
replying to your inquiry.
Replies to inquiries
Since customers are the lifeblood of your business, answers to inquiries should
be polite, direct and prompt. Thus, the personal treatment you provide in your
reply may be an important instrument in turning inquiry into an order.
If the inquiry was from either a new or potential customer your reply should
open with thanking them for contacting your firm.
If it was from an old customer, mention how much their inquiry is
appreciated. Then supply the information requested without forgetting to
refer to enclosures (catalogues, price lists, samples, patterns etc.). State the
particular benefits of your product or service to encourage the placing of an
order. Assure them of good service. If you are not in the position to provide,
persuade the client to accept. Finally, should you have to refuse a request, be
tactful in order to try to retain the customer for future business.
The pattern of an inquiry
Dear Sirs,
Gentlemen:
are indebed for your name and address
We

understand
learn
have seen

to

from your
advertisement

Messrs. Smith & Co.


The Romanian Commercial Agency
Kellys Directory
you sell
a new line of
that
plastics.
produce

Please
price lists
send us
for these
your
Will you please
catalogues
goods.
let us have
Kindly
quotations
expect a considerable demand for these
your bedrock prices.
we
As we
should
hope to attain a considerable turnover
special terms and discounts.
require
a wholesale discount.
are in a position to handle large amounts
If
your quality comes up to our expectations
we would be prepared to place large
orders.
you can supply from stock

Yours

93

faithfully,
sincerely,

Sample of a Reply to an Inquiry


Computers Comp. Ltd.
19, Park Avenue
London, Chelsea 32 MK
Email:compcom@compcom.com.UK
Dinescu Adrian
S.C. Electronics S.R.L.
Eremia Grigorescu Street, No. 5
Piteti, Romnia
Dear Mr. Dinescu,
Thank you for your inquiry. We deeply appreciate your intentions to
establish business cooperation with us.
As requested in your letter we send you our illustrated catalogues and a
price list and a further brochure giving more details about our range of
computers and spare parts.
Should you decide to place an order we are able to offer considerable
discounts for larger orders.
We shall be glad to hear from you soon.
Yours faithfully,
Encl. 2 catalogues, 1 brochure, a price list.

VOCABULARY
inquiry (enquiry)
to draw up
supply
supply and demand
supplier
advertisement
to advertise on the radio,
TV, in the press
Chamber of Commerce
prospective supplier
pattern
sample

= cerere de ofert,
cerere/solicitare de informaii
= a ntocmi, a redacta (o scrisoare, un referat)
= aprovizionare, provizie, ofert
= a furniza, a aproviziona, a alimenta
= ofert i cerere
= furnizor
= ntiinare, anun, reclam
= a face reclam la radio, televiziune, n pres
= Camera de Comer
= eventual/potenial furnizor
= model, tipar, mostr, prob, eantion,
schi, machet, proiect
= eantion, mostr, model
94

specimen
terms
deliver
delivery order
cash discount
to allow
to make
to grant
allowance
to become aware
review
reply
lifeblood
to state
to enclose
enclosure
to place on order
commercial network
turnover
to draw a supply from
to meet the standards /
the requirements
to come up to smb.'s
requirements

= mostr, eantion, prob


= condiii
= livrare, furnizare, distribuire
= a livra, a furniza, a distribui
= comand de livrare
= rabat n numerar
= a acorda (o reducere)
= bonificaie
= a lua la cunotin, a fi la curent, a prinde de veste
= revist periodic
= rspuns
= (lit) snge, (fig) pivot (al unei ntreprinderi),
element motor
= a stabili, a meniona, a declara, a preciza
= a anexa, a ataa, a altura
= anex (la o scrisoare sau document)
= a face o comand
= reea comercial
= cifr de afaceri, randament,
circulaie, rotaie (a banilor)
= a se aproviziona de la
= a corespunde standardelor/cerinelor
= a corespunde cerinelor

DISCUSSIO%
I. Enlarge on:
The aim of inquires and the best way of reaching that aim.
The differences between a general and a specific inquiry.
Replies to inquires.
II. Choose the right answer:
1. Inquiry letters should request all of the following except:
a) a catalogue
b) a prince list
c) information about discounts
d) method of payment
e) technical specifications
95

2. Using which of the following will attract a reader's attention:


a) a direct sentence
b) humorous tone
c) curiosity
d) a & c only
e) all the above
3. A good way to persuade a customer is to:
a) use a free sample
b) offer a guarantee
c) provide a phone number to call
d) a & b only
e) all the above
4. When you are unable to provide the requested information/goods you
should be:
a) tactful
b) ironic
c) impolite/you should not reply at all
d) clear
e) a & d
5. Which of the following sentences could not be used for opening line:
a) We are looking forward to hearing from you.
b) We are one of the leading importers dealing in office furniture.
c) We would appreciate a prompt answer.
d) We shall be very glad to hear from you.
III. Translate the following sentences into English:
1. Suntem o firm de comer specializat n produse electronice de larg consum.
2. Avem o experien de aproape 20 de ani n domeniul exportului.
3. V asigurm c promptitudinea serviciilor noastre i preurile noastre
competitive v vor satisface cerinele.
4. V atragem n special atenia asupra marii activiti a firmei noastre.
5. Numele societii noastre ne-a fost comunicat de ctre domnii Smith i John
care sunt n relaii de afaceri cu dumneavoastr de mai bine de zece ani.
6. V-am fi ndatorai dac ne-ai trimite preurile tuturor produselor dumneavoastr.
7. Confirmm primirea cererii dumneavoastr de informaii din data de 28 a
lunii ianuarie i v mulumim pentru aceasta.
8. Atam brourile referitoare la utilajele noastre.
9. V rugm s ne trimitei o ofert de bunuri pentru a putea face o comand.
10. ncercm toate eforturile pentru a atrage atenia clienilor notri.
11. Dac produsele dumneavoastr ne vor satisface cerinele, vom face
foarte curnd comenzi mari.
96

12. V rugm s ne trimitei cel mai recent catalog ilustrat al dumneavoastr.


13. Dorim s primim detalii i preuri pentru urmtoarele produse ....
14. V rugm s ne scuzai ntrzierea rspunsului la cererea dumneavoastr de ofert.
15. Sperm c prezena documenaiei (documentation, literature) v va interesa.
16. V putem furniza oricare din aceste articole n mai puin de 10 zile.
17. Regretm c nu mai avem n stoc articolul despre care ai cerut informaii.
18. Ne face mare plcere s atam la prezenta cteva mostre.
IV. Translate into English:
a) Cerere de ofert pentru articole de papetrie, mobilier i echipament de birou
Stimai domni,
V scriem n caliate de reprezenani ai firmei Office Net din Piteti, o firm
importatoare i de desfacere n domeniul articolelor de papetrie,
echipamentelor i mobilierului de birou.
Ne intereseaz produsele dumneavoastr cele mai recente i am dori s primim
informaii n legtur cu mrfurile pe care suntei dispui s le exportai.
V rugm s ne trimitei cataloagele i listele dumneavoastr de preuri i
cteva mostre dac este posibil.
Suntem ncredinai c exist un foarte mare potenial al pieei (market
potential). Am fi de asemenea dispui s funcionm ca reprezenani unici ai
firmei dumneavoastr.
Sperm s stabilim o cooperare comercial durabil.
Ateptm cu nerbdare amnunte cu referire la produsele dumneavoastr.
Cu stim,
b)
Stimai domni,
V mulumim pentru scrisoarea dumenavoastr din data de ..... anul curent
i v trimitem n plic separat ultima noastr list de preuri precum i
catalogul nostru ilustrat. Am ataat de asemenea o brour unde putei gsi
mai multe informaii n legtur cu gama noastr de produse.
Suntem dispui s v acordm o reducere de pn la 15% pentru comenzi
mai mari. Dac dorii mai multe detalii referitoare la aceast reducere v
putem trimite oferta noastr ntr-una din sptmnile viitoare.
Ateptm cu nerbdare veti de la dumneavoastr.
Cu stim,
V. Make up an inquiry for Christmas gifts.

97

UNIT 19

OFFERS
The offer represents a main link in precontractual correspondence and it is
often drawn up as an answer to an inquiry.
The Seller (the exporter, the manufacturer) shows he is available to sell
goods or offer services, by an offer , under certain conditions.
Offers can be solicited when they are preceded by an inquiry or unsolicited
(voluntary) when no inquiry has been received; advertisements in
newspapers, magazines, different publications are unsolicited offers.
An offer is a proposed contract on which the commercial transaction
between buyer and seller is based; it should be drafted carefully and it
should include:
1. a reference to the circumstances that have given rise to it (the
addressee's inquiry);
2. an exact description of the goods;
3. the quantity that can be delivered;
4. the price;
5. the terms of delivery;
6. the terms of payment;
7. the packing;
8. an indication as to how long your offer will remain valid;
9. any additional items such as insurance etc.
Our foreign trade companies use printed forms containing the main clauses;
on the back of the forms there are printed the general conditions of delivery,
which form an integral part of the offer.
Catalogues, drawings, samples, descriptions are often sent under separate
cover, their mention being specified in the offer.
Types of Offers
Offers can be general or specific
General offers are accompanied by prospectuses, catalogues or samples.
Specific offers refer to a special article, a line of product or to several products.
According to their commercial function, offers can be firm or without
engagement.
A firm offer is one whereby the offeror binds himself to deliver the goods on the
terms stated therein on condition the order is received within a specified time.

98

The offeror (seller) undertakes to allow his offer (prospective customer) a


certain time in which to decide on his purchase and he undertakes not to sell
the goods to anyone else.
An acceptance received after the specified time does not bind the offeror.
A firm ofter requires to be supported by consideration; in the absence of
legal consideration, the offeree obtains no legal rights against the offeror
who revokes his offer before acceptance.
A tender is a firm offer to supply goods or execute some specified work at a
fixed price. After throughout examination of the various tenders received, the
most satisfactory is accepted and forms the basis of the contract.
The offer without engagement is always sent out to potential customers and
its main characteristic is that it is an informative one. Therefore, it must
carry the words without engagement", validity of the offer, information
about the goods.
Even if accepted, such an offer does not bind upon the offeror because its
main function is publicity.
The pattern of an offer
Dear Sir,
Dear Sirs,
Gentlemen,
Dear Mr. ...,

We

thank you
are much obliged
refer to
are glad to have

have pleasure
in are
We
(and)

are pleased
hasten
are able

for
your

enquiry
letter telex

of dated
received on

our

quotation
offer
specification

submitting
enclosing
attaching
to

quote for
offer

the following

2nd May ( . )
June 23rd ( . )
6th March ( . )

as

follows:

quantities and prices:


goods:

submit the following quotation:


:::::::::: List the goods, quantities and prices at this point of your letter:
at the end of the month.
stated
net cash
one month after delivery.
are / is
quoted
against presentation of
strictly net
given
Our
price
documents.
The prices
F.O.B.
Liverpool.
are / is to be understood
C.I.F.
Dublin.
C. & F.
San Francisco.

99

Shipment
Delivery
Despatch

This
Our

will
can

be

from stock any time.


by the end of the month.
as soon as possible.
in September.
immediately
after receipt of order.
six weeks

effected
executed
arranged
carried out
made
take place
firm
binding
valid
open

offer is

for 30 days.
till 1st March.
until recalled.
the goods being unsold.
prior sale.
meet (s) your requirements ( . )
meet (s) with your approval ( . )

subject to

We

trust
hope
are
confident

(that)
our

quotation
offer
specification
prices and terms
goods
samples

will be

comes up to your expectations ( . )

receiving your
We
(and)

look
forward to

of interest to you ( . )
satisfactory ( . )

(trial) order
reply

hearing from you

soon.
in the near future.
before long.

faithfully,
Yours

truly,
sincerely,

VOCABULARY
link
voluntary
to give rise to
prospectus
to state
to bind bound bound
binding upon
therein (by this)
offeror
offeree
to undertake
prospective customer

= verig
= voluntar, nesolicitat
= a da natere la
= prospect
= a declara, a da, a stabili
= a obliga, a angaja
= obligatoriu
= prin aceasta
= ofertant
= destinatarul ofertei
= a (se) obliga s
= eventual/potenial client
100

purchase
tender
to tender
valid
invoice
consulate
to acknowledge
herewith
trial order
retailer
without engagement
we acknowledge receipt
of your letter

= achiziie, cumprtur
= ofert real, ofert de licitaie
= a face o ofert real, a oferi, a propune
= valabil
= factur
= tax consular
= a confirma, a admite, a recunoate
= n felul acesta
= comand de prob
= detailist
= fr angajament
= confirmm primirea scrisorii dv.

DISCUSSIO%
I. Enlarge on:
1. The content of an offer.
2. Voluntary offers.
3. Types of offers and the difference between them.
II. Give the nouns corresponding to the following verbs: to delay, to deliver,
to accept, to cancel, to engage, to refuse, to offer, to sell, to pay, to enclose.
III. Translate the following sentences into English:
1. Suntem ndatorai domnului ../firmei pentru numele i adresa
dumneavoastr.
2. Ca rspuns la scrisoarea dumneavoastr din data de suntem
ncntai s v oferim dup cum urmeaz ..
3. Suntem bucuroi s v oferim urmtoarele produse din stoc
4. Suntem ncntai s v oferim pliantele noastre i cea mai recent list
de preuri pentru aceste produse.
5. Putem s v oferim produsele dup cum urmeaz .
6. Avem plcerea s v oferim cotaia noastr cea mai bun.
7. Catalogul i listele noastre de preuri sunt anexate pentru a le supune
ateniei dumneavoastr.
8. Astzi v-am expediat mostre de diferite caliti care sperm c vor
satisface cerinele dumneavoastr.
9. Suntem convini c mostrele anexate v vor convinge despre calitatea
excelent a produselor noastre.
10. Avem posibilitatea s v oferim produse de o calitate superioar fa de
anii precedeni.
101

11. Vei putea observa c prodsusele noastre de o calitate superioar sunt la


un pre avantajos.
12. Preurile noastre includ ambalajul i livrarea.
13. Solicitm plata prin acreditiv irevocabil.
14. Plata pentru prima comand se va face contra factur pro forma.
15. V putem acorda un rabat de 20%.
16. Pentru cantiti mai mari v vom acorda o reducere special.
17. Anticipnd o mare cerere putem s livrm oricnd
comanda
dumneavoastr din stoc.
18. Oferta trebuie acceptat pn la sfritul acestui an.
19. V rugm s ne anunai dac acceptai oferta noastr.
20. V rugm s ne confirmai comanda dumneavoastr la preul oferit.
21. Suntem convini c oferta noastr va satisface cerinele dumneavoastr.
22. Sperm c ne vei remite comanda dumneavoastr curnd.
23. Ateptm comanda dumneavoastr de prob.
24.V sugerm s ne remitei comanda dumneavoastr de prob.
IV. Translate into English:
a)
Domnilor,
Acum cteva luni v-am trimis o cerere de ofert prin care v rugam s
precizai dac dorii s rmnei n continuare printre abonaii notri.
Deoarece nu am primit nc rspunsul la scrisoarea noastr nelegem c nu
mai dorii s primii publicaiile noastre.
Dorim s v reamintim prin scrisoarea de fa c n eventualitatea n care nu ne
vei ntiina ct mai curnd posibil despre intenia dumneavoastr de a v
numra printre clienii notri, vom nceta trimiterea publicaiilor.
Cu stim,
b)
Discutarea ofertei pentru prestarea unui serviciu:
Mary Jackson: Bun dimineaa, domnule Brown. M numesc Mary
Jackson de la firma P&G Computer Service. Dup ce ai luat legtura cu
noi pe baza anunului nostru din The Economist, a vrea s v
spunem mai multe despre oferta noastr de servicii pentru micile
ntreprinderi.
Dl. Brown: Ah, da. V mulumesc pentru c ai venit aa de repede. Dup
cum vedei, nu de mult ne-am cumprat un calculator, pentru a optimiza pe
ct posibil gestionarea contractelor.
102

Mary Jackson: Presupun c avei un contract de service pe prima perioad


pentru aparatur, dar cnd aceasta expir, ar fi cel mai bine s folosii un
plan ca al nostru. Noi v oferim remedierea prompt a defeciunilor la
orice or, ntreinere la fiecare trei luni, nlocuirea imediat a
echipamentului defect. V actualizm software-ul i v oferim consultan
gratuit pe durata contractului.
Dl. Brown: Mi se pare o ofert bun. Care sunt condiiile dumneavoastr de
plat ? Este posibil s pltim lunar pe durata contractului sau trebuie s fie o
sum global ?
Mary Jackson: Cum dorii, atta timp ct banca v garanteaz solvabilitatea.
V las aici cteva brouri. Citii-le n linite! Aa vei putea compara
preurile i condiiile noastre cu ale altora, dar v pot asigura c oferta
noastr este cea mai avantajoas n acest moment.
Dl. Brown: Foarte bine! M putei suna peste o sptmn pentru a v da un
rspuns ?
Mary Jackson: Cu plcere. Dai-mi v rog, numrul de
vom lua legtura la nceputul sptmnii viitoare.

telefon i

V. Make up an offer for furniture stressing the wide range of the styles
available and the ability to meet the requirements of different markets.

103

UNIT 20

ORDERS
Orders are the last stage of a business transaction.
After analyzing the offer, the buyer sends an order for goods or services to
the offeror.
Thus, an order is a request from one firm or individual for supply of goods
from a firm.
An order is a legal binding; if it is accepted, the buyer must accept the
delivery of the goods.
When the letter itself constitutes the order, care should be taken to make it
direct, clear and accurate. It is advisable to arrange the items in tabular form,
giving a separate line to each. Tell your reader exactly what you need and
when you expect it. If you communicate your needs clearly to the supplier
you have a better chance to receive what you want. Therefore, exact
quantity, details of colour, size, material, price, identifying mark or number
should be precisely stated; you should also specify the methods of payment
and details concerning the delivery.
An order letter should contain all the following information:
1. the object of the order, its detailed and exact description;
2. the ordered quantity;
3. the required quality;
4. the required packing and marking;
5. the unit price or the total value of the goods;
6. the terms of delivery according to Incoterms rules;
7. the place and the date of delivery;
8. the terms of payment;
9. the way of shipping, the shipping documents;
10. other instructions.
The order letter may follow some recipe:
- the opening paragraph may be a reference to the offer made by the supplier
or to the information source which has given the suppliers address;
- the body of the letter should contain the exact description of the goods
needed: quantity, quality, price per piece, time of delivery, terms of payment;
- the closing paragraph is a hope that the order shall be executed promptly;
104

Urgent orders are often telegraphed or given by the telephone but then they
should be repeated in writing. That is the buyers confirmation of the order.
Besides the proper order, there are also:
Trial Orders. They are given (placed) in order to test the quality of the
goods. Goods sent on trial and not found satisfactory are returned at the
senders expense.
Repeat Orders are orders for identical goods ordered at some previous time.
In such a case, the description of the goods is no longer necessary. It is
sufficient to quote the number of the original order.
Letters of this type may close with the hope that the high quality of the
goods supplied will lead to further business (orders).
Although the request of the goods can be made by letter, usually orders are
placed by filling out or completing a pre-printed form, an order form or an
indent if it is a foreign order.
The forms are typically arranged in columns and provide space for a description
of the product, the quantity requested, the unit price and the total price.
Order forms are made in duplicate. Thus, a duplicate is retained by the
person placing the order to check the order against the goods received. To
confirm receipt of the order, the supplier either delivers the goods
immediately or mails an advice note to his customer that describes the
nature and quantity of the goods ordered.
Acknowledgement of Orders
Receipt of orders should always be acknowledged in writing. If no answer is
given to an order, the buyer will assume that the order has been accepted
and will be executed.
If the inquiry proves the customer to be unreliable, a bank guarantee is
demanded or some pretext is offered for inability to execute the order.
Letters of acknowledgement should include a confirmation of the order and
an expression of thanks. The essential points in the order letter should be
repeated to avoid any misunderstandings.
Orders may be cancelled under certain difficult circumstances, but a
cancellation must be very well founded.

105

Sample of an Order
S.C. Electronis SRL
Eremia Grigorescu Street, No.5
Piteti, Romania
E-mail:electronics@hotmail.com
Order Form No. 7
July 22, 2002
Dear Sirs,
Thank you for your letter dated 22 May 2002, enclosing your sales
catalogue and the price list.
We carefully analyzed your offer and we decided to place an order,
according to the special term that you mentioned for us by first retail.
As you mentioned in your offer, you are willing to give us a discount
of 11.5% for an order of 700,00 USD. Therefore, we would like to place an
order of 689, 250 USD, according to the order sheet enclosed.
Further, we reserve the right to reject any goods that do not meet the
QCC (Quality Control Certificate).
We trust you will do your best in executing this order to our full satisfaction.
Yours truly,
Enclosure o. 1
o.

Description of
the goods

Quantity
(UITS)

Price
USD/CIF

Total amount
USD/CIF
Constantza

P III 600

250

890

225,000

P III 700

250

910

227,500

P III 1000

250

955

238,750

Total amount of 0money USD/CIF Constantza

689,250

106

Acknowledgement of the Order


Computers Comp Ltd.
19, Park Avenue
London, Chelsea 32 MK
E-mail:compcom@compcomcomuk.
Dear Sirs,
Thank you for your order dated July 22nd 2002 which we are hereby
pleased to confirm.
We are also pleased to inform you that the goods specified in your
Order Form No. 7 have been forwarded.
As the first business made, we have taken a great attention and
consideration in manufacturing the goods required in your order.
At the initial sum of 689,250 USD we will grant a discount of 11,5%.
The entire sum will be paid by the end of September.
You will also find a package advertising materials that includes:
posters, packing and displays, two promotional movies on CD.
We trust that we shall have the pleasure of executing further orders
from you and we assure you that we will continue to make every effort to
meet your requirements.
Yours truly,
Jack Smith
Export Sales Manager

VOCABULARY
to place an order
trial (provisional) order
to cancel an order
to acknowledge (confirm) an order
to supply an order
to execute an order
to meet an order
unreliable
to enclose
enclosure

= a face o comand
= comand de prob
= a anula o comand
= a confirma o comand
= a onora, a executa o comand
= a onora, a executa o comand
= a onora, a executa o comand
= pe care nu te poi baza
= a ataa
= anex
107

DISCUSSIO%
I. Enlarge on:
1. How to write an order letter.
2. Types of orders.
3. Acknowledgement of orders.
II. Make up sentences using the following expressions:
- to place an order
- to execute an order
- to cancell an order
- to up-date an order
III. Translate the following sentences into English:
1. Confirmm primirea ofertei dumneavoastr din data de .. i dorim s
comandm dup cum urmeaz .
2. Am primit la timp mostrele dumneavoastr i am ales urmtoarele produse
pentru o comand de prob.
3. Dorim s v remitem o comand conform formularului de comand anexat.
4. V rugm, ca din punct de vedere al calitii, marfa s corespund cu
mostrele trimise de dumneavoastr.
5. Este foarte important ca materialul s fie de o bun calitate.
6. Considerm c preul oferit de dumneavoastr este convenabil, dar am vrea
s tim dac ai putea acorda o reducere pentru comenzi mai mari.
7. Intenionm s facem o comand mai mare motiv pentru care am vrea s
tim dac ai acorda o reducere.
8. ntiinai-ne dac mai avei produse de aceeai calitate n stoc.
9. Subliniem c mrfurile trebuie s corespund specificaiilor noastre.
10. Urmele de pe suprafaa produselor ne oblig s le respingem.
11. Acceptm preul dumneavoastr, dar am dori s tim dac ne putei
acorda o reducere de 5% pentru o cantitate de
12. Preul dumneavoastr trebuie s includ ambalarea i livrarea la
depozitul nostru.
13. Dac preurile i condiiile sunt acceptabile aceast comand de prob
va duce la noi relaii de afaceri.
14. Dac nu avei aceeai culoare, trimitei o culoare apropiat.
15. Noi acceptm un pre pn la .. dar numai pentru un articol de prim
calitate. V rugm s ne trimitei detalii despre alte produse dac nu
putei furniza la acest pre.
16. Deoarece nu ai livrat marfa la timpul stabilit, nu avem alt soluie dect
s anulm comanda.
108

17. Trebuie s insistm asupra livrrii la data stabilit n scrisoarea dvs.


18. Dac mrfurile nu sunt n stoc i nu pot fi livrate imediat, v rugm s
considerai comanda suspendat.
19. Avem certitudinea c vei executa aceast comand n timp util.
20. V rugm s acordai acestei comenzi cea mai mare atenie.
IV. Translate into English:
a) Anularea unei comenzi
Directorul depozitului:
Bun ziua.
Clienta:
Bun ziua. M numesc Mary Brown, de la Alti Supermarket. mi pare
deosebit de ru, dar fratele meu v-a trimis sptmna aceasta o comand
greit. V deranjeaz dac o modific telefonic ?
Directorul depozitului:
Bineneles c nu, cu condiia s nu fi fost nimic perisabil, pe care noi s-l fi
comandat special.
Putei s-mi dai numrul comenzii ?
Clienta:
Da, este SCC 2356. Comanda a fost fcut acum trei zile i este vorba
numai de produse alimentare preambalate. Vrem s renunm la buturile
rcoritoare i la fulgii de porumb i s comandm n schimb 15 cutii mari
(baxuri) de Nescafe. Este posibil ?
Directorul depozitului:
Am gsit comanda i factura. Vom face toate modificrile nainte ca
dumneavoastr s ridicai mine mrfurile. V ntocmesc o nou factur.
Cum vei plti ?
Clienta:
Voi plti cu cec, ca de obicei. V mulumesc pentru amabilitate. La revedere.
b)
Domnilor,
Confirmm primirea ofertei dumneavoastr de aspiratoare pentru care v mulumim
i avem plcerea s v anexm formularul de comand nr. 542 completat.
Am dori ca aspiratoarele s fie expediate nu mai trziu de 10 zile de la data
acestei comenzi.
Suntem ncredinai c vei acorda acestei comenzi ntreaga dumneavoastr
atenie i ateptm confirmarea ei.
Cu stim,
V. Make up a letter in order to confirm the above order.
109

UNIT 21

COMPLAINT LETTERS, ADJUSTMENT


LETTERS AND REMINDERS
COMPLAIT LETTERS
In writing letters of complaint as well as in answering them, the key note
should always be clearness, conciseness and courtesy that ought to rule the
style of all business letters.
The correspondent who makes a complaint will not apologize for making it,
but he will suggest that he regrets having to make it. A letter of complaint
should be sent as soon as the matter arises.
Complaint letters should include:
a) The data required to identify the consignment in question: number
of the contract or order, date of shipment etc.
b) A clear, detailed and concise statement of what is wrong and of the
inconvenience the error has caused.
c) (Desirably but not necessarily) a reference to the satisfactory
deliveries made by the addressee previous to the complaint and to
the high reputation of the company for honest etc.
d) To conclude, the addressee will be asked to investigate the matter and
adjust it satisfactorily, or the writer may himself suggest an adjustment.
We must recognize that an occasional mistake is inevitable, and give the
person with whom we are doing business an opportunity to remedy the
mistake. If satisfaction is not granted, or the errors are too frequent, we
may threaten to get our supplies from elsewhere.
Generally, complaints can be generated by:
Seller's fault
Buyer's fault
Both parties' fault
Force majeure
The Buyer's complaints can have the following causes:
a) a fault in merchandise: quantity, quality, damage;
b) a fault in the service supplied by the Seller or by a third party; delay
in delivery, faulty or unsuitable packing, faulty documents,
nonobservance of the Buyer's instructions concerning shipping,
packing, marking, storing, insurance etc;
c) force majeure.
110

The Seller's complaints can have he following causes:


a) Buyer's failure to observe payment terms, delayed payment, nonpayment of the goods, failure to open a L/C as per contract
stipulations;
b) failure to place the means of transport at the Seller's disposal,
failure to notify this or wrong advice of some instructions;
c) wrong documents.
Generally, all the complaint causes can be prevented and avoided, excepting
force majeure which can be prevented but not avoided.
Complaints can be:
real or false
founded/supported or unfounded/unsupported.
ADJUSTMET LETTERS
In a letter of adjustment the writer should never fail to apologize or to
express his regret for the inconveniences caused and show sympathy with
the addressee's feelings whether he admits the claim or not. Any expression
indicating irritation, bad temper or suspicion should be avoided.
The first step to be taken in dealing with a complaint is to investigate the
facts, after which a decision can be made as to whether the complaint is
justified and whether or not an adjustment can be granted.
If the customer's complaint is well founded, the error must be admitted and
a suitable adjustment must be proposed. The adjustment may consist in
refunding money, allowing a discount, sending new merchandise or
performing an additional service. Sometimes there is nothing to be done but
to admit the error and assure the addressee that there will be no repetition of
it. If the complaint is the fault of the carrier, the client will be advised to fill
a claim against him.
If the customer's complaint is unfounded, we must explain to the client why
we cannot admit the claim, and seek to convince him that he is wrong. A
refusal of the claim would mean the loss of a client. It is often advisable to
suggest a compromise and make a commission to the client.
When no immediate solution can be suggested, we must acknowledge
receipt of the letter and assure the client that his complaint is being
considered and will be solved as soon as possible.
A complaint must be answered promptly, as the client must feel that we are
considerate of his interests.
An adjustment letter should contain:
a) A conciliatory statement, an apology or the regret, whether the seller or
the buyer is at fault.
111

b) A clear and convincing explanation of facts.


c) The solution and the compensation proposed.
d) An assurance of goodwill and the trust in the restoration of good relations
with the customer.
Sample LETTERS of COMPLAIT and their ADJUSTMET
1.a. Complaint of damaged goods because of inadequate packing
Dear Sirs,
We regret to inform you that we are disappointed with the fulfillment of our
last order.
Checking the goods we found that some of the cases got damaged, as a
consequence of a faulty packing or careless handling at the docks.
We place the broken items at your disposal and expect your instructions.
Please look into this matter as soon as possible and settle it, to our mutual
satisfaction.
We are looking forward to hearing from you soon.
Yours faithfully,
Encl: Certificate of Damage
1.b. Reply to Complaint of damaged goods:
Dear Sirs,
We greatly regret to learn from your letter of ........ that you are dissatisfied
with the execution of your order.
We have carefully investigated your complaint and must admit an error in
packing occurred, due to a careless handling at the docks.
We are ready to put things right and propose either to replace the goods or
to allow a 30% discount for the damaged goods.
We are sorry for the inconvenience caused and hope that this will not affect
our good business relations.
Yours faithfully,
REMIDERS
Reminders represent a special category of complaints.
In case of an overdue payment, delay in opening the L/C or to recover a
debt, the seller requests the payment by the so called REMINDERS.

112

1. The FIRST REMINDER is drawn up as a polite inquiry, considering


that the client could have had a serious reason for not making the
payment or settling the account.
2. In case of non-payment, after nearly two weeks, the SECOND
REMINDER is sent with reference to the first reminder and the
documents enclosed. Payment and an explanation are requested.
3. The THIRD REMINDER is drawn up in categorical and firm terms.
After showing reasonable patience and consideration a deadline is
indicated and only if it's absolutely necessary, a legal action is
threatened.
Samples of REMIDER Letters and their ADJUSTMET
1.a. FIRST REMIDER
Dear Sirs,
We are surprised that although it is one month since the conclusion of
contract No. ....................../ of ........................ you have not settled our
invoice No. ........... for 658,300 USD, a copy of which is enclosed.
We know that you have always cleared your accounts regularly in due time.
That is why we wondered if any problems had arisen which we could help
you with. Please let us know if we can be of any help.
Yours faithfully,
1.b. Reply to the first reminder
Dear Sirs,
We were surprised to receive your letter of ................... in which you let us
know you had not received payment for invoice No. .....................
We instructed our Bank to credit your account in "Ion Tiriac Bank",
Bucharest with 658,300 USD, on May 15.
It is possible that your Bank had not advised you yet. Please check this with
your bank and if there are any problems, let us know, so that we can make
inquiries here.
Yours faithfully,

113

VOCABULARY
complaint letter/letter of complaint
adjustment letter/letter of adjustment
reminder
to make/to write a complaint
to lodge a claim
to tally with
damaged goods
to refund money
missing goods
to look into the matter
to be disappointed
to put things right
to allow a discount
lack of raw materials
a breakdown of machinery
to overcome the difficulty
to settle the account
deadline
to clear the accounts
to make inquiries
to advise the remittance
to take legal action
to handle a complaint

= scrisoare de reclamaie
= scrisoare de soluionare
= scrisoare de revenire
= a face/a scrie o reclameie
= a nainta o reclamaie
= a corespunde cu ...
= mrfuri avariate
= a napoia bani
= mrfuri lips
= a analiza problema
= a fi dezamgit
= a ndrepta lucrurile
= a acorda o reducere
= lips de materii prime
= defectarea utilajelor
= a depi dificultatea
= a deconta
= termen final
= a achita conturile
= a face cercetri
= a achita remiterea
= a recurge la msuri legale
= a rezolva o reclamatie

DISCUSSIO%
I. Answer the following questions:
1. What should complaint letters include?
2. What are the causes of the Buyer's complaints?
3. What are the causes of the Seller's complaints?
4. What are adjustment letters?
5. What should adjustment letters contain?
6. What are reminders?
7. In what cases do you write the first reminder, the second reminder, the
third reminder?
II. Give synonyms of the following words and expressions: mistake,
delay, deadline, charge, damage, term, shipping company, to handle a
complaint, to look into the matter, to lodge a claim.
114

III. Translate into English:


1. S-a convenit c marfa va fi expediat la timp pentru a sosi aici n decurs
de 13 zile, pn la sfritul acestei sptmni.
2. De ndat ce am primit scrisoarea dv. de reclamaie am luat legtura cu
ambalatorii i le-am cerut s analizeze problema.
3. La despachetare am gsit mrfurile complet avariate.
4. V mulumim pentru scrisoare i ne scuzm pentru articolele lips.
5. Vom fi bucuroi dac ai vrea s facei cercetri n legtur cu lzile lips.
6. Trebuie s recunoatem c reclamaia dv. este jusificat: eroarea s-a
datorat unei defeciuni a utilajelor noastre.
7. Regretm s aflm c nu suntei mulumii de transportul pe care l-am
livrat sptmna trecut.
8. Ca rspuns la reclamaia dv. din ....... v informm c marfa a fost cu
grij verificat nainte de expediere.
9. Regretm pentru neplcerea produs pentru neprimirea mrfii la timp.
10. l vom contacta pe agentul nostru de expediere i v vom informa
imediat despre cele ntmplate.
11. Verificnd factura dv. nr. ...... am constatat c ai fcut greeal n
calcularea valorii totale a produselor.
12. Dac s-a produs o eroare v-am rugat s corectai factura.
13. Am primit conosamentul dv. i cu regret v informm c mrfurile nu
sunt descrise la fel ca n contract.
14. Anexm un exemplar al contului i al facturii.
15. Regretm, dar nu avem alt alternativ dect s recurgem la o aciune
judiciar.
IV. Write complaints referring to:
- unsuitable quality of the goods ordered
- a short - delivered consignment
- bad packing and damaged goods
- delayed delivery of some goods

115

UNIT 22

FRANCHISING
Franchising is a business system in which a company (or franchiser) sells an
individual (or franchisee) the right to operate a business using the
franchisers established system or format.
As part of franchise agreement the franchisee pays an initial sum of money,
a franchise fee or front, end fee, to the franchiser and agrees to pay royalty
or management services fee for continuing advice and assistance, which is
usually, calculated as percentage of annual turnover. The franchisee may
also pay an advertising fee to contribute to the franchisers annual
advertising and marketing costs. The franchisee also has to find the
necessary capital to open the business.
The franchiser provides an operations manual which contains all the
information that the franchisee needs run his or her business. A franchiser may
appoint a master franchisee to supervise the business in a particular area.
The number of franchise operations has grown rapidly in recent years. Well-known
franchises include McDonald's, Kentucky Fried Chicken, Coca Cola bottlers, H & R
Block income tax services, Holiday Inns, Western Auto Stores, Midas auto muffler
shops, and automobile dealerships. The U.S. Department of Commerce estimates
that franchises account for 30 percent of total retail sales. Most of these sales are
made by auto and truck dealers and gasoline stations. However, fast-food and
convenience food stores account for billions of dollars in sales.
Benefits to Franchisees
The franchise provides the small business entrepreneur with an opportunity to
sell a good or service that is already established positively in the consumer's
mind. Before the franchisee starts operations, the franchiser typically provides
location analysis, loan assistance, and management training.
Once the franchise is operating, the small business owner is assisted with
standardized operating methods, centralized purchasing, advertising layouts, and
continued management assistance. In a mobile economy where millions of
Americans move every year, nationally known franchise symbols provide a
means of easy identification and ready acceptance by potential customers.
Problems for Franchisees
Although many franchisees are successful and obtain significant help from
their franchisers, problems may arise with this type of enterprise. The cost
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of the goods and services provided by the franchiser may be relatively


expensive. Items sold by the franchiser to its franchisees may not always
meet local tastes or conditions. The franchiser does not always live up to the
expectations of the franchisee. This may be due to misunderstanding on the
part of the small business owner. In some instances the franchiser simply
does not deliver what was initially promised. Whatever the case, such
situations emphasize how important it is for the small business entrepreneur
to investigate the franchise opportunity thoroughly and to get good legal
advice before entering into a franchise agreement.
Any sales and profits aims by franchisers must be documented. An
entrepreneur considering a franchise operation should get answers in writing
questions such as restrictions on selling the franchise, the failure of
franchises of the same product line, and the nature and cost of the training
and promotional support provided by the franchiser.
The name and the trademark of the franchise may be valuable nationally, and
this identification may be valuable in a local market. However, the quality of
the service and products provided by the individual franchisee will be critically
important in maintaining repeat business. This is especially true in such fields
as fast foods and automotive services, where substantial competition exists
from local enterprises and other franchises. Even with the support of a national
franchiser, the individual small business owner still faces the basic need to
provide good management if the business is to be a success.

VOCABULARY
to franchise
franchise
franchiser, franchisor
franchisee
agreement
fee
royalty
assistance
turnover
to appoint
antrepreneur
to be due to
to emphasize
thoroughly
failure
to face

= a acorda o franiz, o concesiune


= franiz, concesiune de marc
= persoan sau instituie care acord o franiz, o concesiune
= beneficiar / deintor al unei franize
= contract
= tax
= roialitate, redeven
= ajutor
= cifr de afaceri
= a numi
= ntreprinztor, antreprenor
= a se datora
= a accentua, a evidenia
= n amnunt, complet, amnunit
= eec
= a se confrunta
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GRAMMAR
DIDT EED OR EEDT + PERFECT IFIITIVE
Didnt need to = the action wasnt necessary, so it wasnt performed.
e.g. She didnt need to water the flowers, for it started to rain (So she
didnt water them).
eednt + have + V III = the action wasnt necessary, but it was
nevertheless performed.
e.g. She neednt have watered the flowers for it was going to rain (So she
wasted her time).

DISCUSSIO%
I. Enlarge on:
a) Franchising agreement definition and elements
b) Discuss the advantages and disadvantages of owing a franchised business enterprise
II. Give nouns corresponding to the following verbs:
to franchise; to contract; to agree; to establish; to pay; to contribute; to provide; to
appoint; to supervise; to advertise; to accept; to deliver; to investigate; to claim.
III. Make nouns by adding a suffix (-ity, -ness, -ment, -tion) to the
words below. Make any necessary spelling changes.
a) flexible_______________________
b) dedicate ______________________
c) popular _______________________
d) fit ___________________________
e) invest _______________________
f) communicate __________________
g) agree ________________________
h) aware__________________________
IV. Complete the sentences below with the nouns from exercise 3.
1) Franchisers will only consider candidates who can make an initial
__________ of at least $ 85,000.
2) Employees who take initiative and constantly seek ways to improve
service are rewarded for their_________.
3) We are meeting next week to the lease __________ for the shop.
4) The increasing _________ of home entertainment amongst consumers is
fuelling the expansion of the video rental industry.
5) Running your own business requires a lot of __________ as you often
have to do whatever is needed to be successful.

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6) E-mail makes _________ with franchising associates around the world


faster, more convenient and less expensive.
7) Growing _________ of the stress-reducing benefits of regular exercise
has led to an increase in gym franchises.
8) Some companies have on-site exercise facilities as they believe that physical
________ plays an important role in the well-being of the employees.
V. Insert didnt need to or neednt + perfect infinitive
1) I .. (leave) early, as the Browns offered to take me home in
their car.
2) My coffee was already sweet, so I .. (put) any sugar in it.
3) They had wanted to paint their house, but then they decided to move and
so they . (paint) it.
4) They painted the house but then they had to move. They
(paint) it.
5) John . (wait) for his friend, because he never came.
6) He . (take) his swimming things as his friends said they
could lend him some.
7) I (do) the exercise, which would have saved me a lot of time.
8) I. (do) the exercise, which saved me a lot of time.
VI. Translate into English:
Contractul de franchising combin concesiunea unei mrci (de produse sau servicii)
cu concesiunea ansamblului de metode i mijloace apte s asigure exploatarea i
gestiunea canalelor de desfacere n cele mai bune condiii de rentabilitate.
Franchisingul presupune un contract ntre o firm (numit franchisor), care
are o afacere recunoscut ca valoroas pe plan naional i, adeseori,
internaional i o alt firm (numit franchisee) interesat s demareze o
afacere economic similar.
Franchisorul ofer toate informaiile necesare iniierii afacerii i acord,
contra unei taxe, asisten pe ntreaga durat a contractului. Beneficiarul va
trebui s plteasc: o tax iniial fix, o tax periodic, o tax de
publicitate, reprezentnd procente din cifra de afaceri nregistrat. Acestea
reprezint taxe pentru primirea know-how-ului afacerii i a dreptului de a
folosi numele franchisorului. Investiia de start este un lucru separat i
constituie treaba franchisee-ului.
Prin intermediul contractului de franchising se realizeaz o armonizare economic
supl a unor ntreprinderi specializate n vnzarea exclusiv a produselor sau
serviciilor cedentului, o concentrare i integrare economic, n care cesionarul
prelungete actul creator al productorului pn la stadiul comercializrii.

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UNIT 23

LEASING
Leasing is a modality of renting machines, equipments, means of
transportation and other goods to enterprises that, generally, do not dispose
of sufficient funds or cannot afford loans, nor traditional banking credits, by
financial societies that buy them from manufacturers and who let them for a
certain period, with clearly stipulated payment and usage conditions in a
contract that constitutes the legal support of the action. Leasing does not
exclude consuming, deprecating goods.
The lessee who is the user of the respective goods, can become owner after
a certain period of time, without retroactive effects, that is without the
necessity to refund the initial value of the rented goods.
The lessor is liable for any damage caused to the lessee if the leased goods
are not fit for the purpose as stipulated in the agreement.
The lessee must pay the lessor the hire as agreed. He shall not pay the hire
for the period when he could not use the hired equipment due to its
unfitness, or it was caused by the lessee or a third party.
Let us take a closer look at some of the advantages offered by the leasing system.
In the first place leasing presents to the foreign partner, without an advance
payment, the possibility to obtain quickly new machines and equipments,
up-to-date creations, maintaining the highest possible level attained by the
technique development. The operation does not involve cash, the credit can
be reimbursed, normally, from the benefits brought about by the very
equipment that has been hired.
Apart from that, leasing offers a certain financial independence.
Leasing presupposes a great mobility in transactions, that is unusual to all
other commercial and economic proceedings; the standard leasing
conditions eliminate the long talks that are so common when contracting,
traditional credits. The more important leasing firms open accounts to
beneficiaries, similar to banking credit accounts with the help of which the
beneficiaries can immediately rent the equipments they need. This
possibility of letting the necessary equipment, on the spot, without the care
of contracting over and over again presents an undisputable advantage.
Maybe one of the most serious motives that has determined the important
expansion of leasing is the minimizing of the risk that is represented by the
obsolescence phenomenon in technique. Many authors consider that the
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reduction of such a risk in this case remains one of the principal advantages
of the leasing system.
Leasing is an invaluable method to counter attack concurrence, offering the
possibility of renewal of all machines, equipments, facilitating dynamic,
profitable investments, that encompass intelligence and inventivity.
As a special operation of foreign trade, leasing favours the economic
development of countries that do not possess the necessary financial and
foreign currency means, ensures the winning of new partners, the
penetration on new markets, the permanentization of trading relations by
long-term sales of basic products of the home economy.
The leasing system offers, apart from the equipment, the necessary service
operations - repairs and maintenance - an invaluable advantage, especially
in the case of sophisticated, complicated equipment.
As any system with multiple implications and of considerable proportions,
leasing presents some limits. A disadvantage, and not a negligeable one, is the
rised cost of the operation. In fact, it is the most expensive form of credit.
Another disadvantage is that none of the parts, neither leasing firm nor
"tenant", can resiliate the contract that continues its agreements to the very
end. Then, when there is inflation, because of the decalage between the
moment of the delivery of the equipment and the refunding of the renting
credit, leasing can negatively influence the payment balance of the
exporters. There is also the risk of the procuring facilities leading to hasty
decisions, to over investments and, finally, to losses. Another danger occurs
from the nonrealization of the value of the rented goods. From international
practice results that it isn't always possible to pay off the integral value of
the equipments, even in the case of successive renting or sale.
Even so, because of the indisputable advantages it presents, leasing extends
its domain of action in international trade.

VOCABULARY
leasing agreement/contract
lease
lessor
lessee
loan
hire purchase
hire

= contract de nchiriere spre folosin


= nchiriere pentru folosin
= persoan care ofer echipamente pentru
nchiriere, locator
= persoan care nchiriaz
echipamente, locatar
= mprumut, credit
= vnzare n rate
= plata pentru echipamente
nchiriate pentru a le folosi, chirie
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to open an account
credit account
on the spot
obsolescence
to encompass
maintenance
instalment
to hinder
refund
loss
to be liable for

= a deschide un cont
= cont de credit
= pe loc
= nvechire, ieire din uz
= a nconjura, a nchide, a ncercui
= ntreinere
= rat
= a mpiedica
= refinanare
= pierdere
= a rspunde de (din punct de vedere financiar)

DISCUSSIO%
I. Enlarge on:
a) What do you mean by a leasing agreement.
b) What are the responsibilities of the parties implied in such an agreement.
c) Name some of the advantages and limits of the contract of lease.
II. Give synonyms to the following words:
agreement, loan, to hire, loss, to hinder, to be liable for, on the spot, beneficiary,
to minimize, risk, installment, to decrease, to extend, trade, conditions, to attain.
III. Fill in the gaps with the required prepositions:
Leasing, brought out ________ the spotlight _________ world trade
________ The Third Wave is a sort ________ Columbuss egg. This
discovery, _________ a disarming simplicity, was, _________ some
authors, the golden dime _______ D. P. Bootle, manager _________ a
food enterprise in California. It seems that the discoveries that carry
________ a great importance _________ human existence do not belong
only _________ the fields of top science _________ technology,
_________ to necessity and hazard ________ two philosophical categories
that are too often ignored ________ that can anywhere and anytime bring
_________ inertial everyday life, the idea that constitutes the new.
IV. Translate into Romanian:
The "Third Wave" - quoting Alvin Toffler's expression - has brought about
in the complicated retort of renewal the levers activating on the market, that
influence expansion of economic relations, international exchanges. New
and unusual forms and modalities have been and are invented for financing
and credit; the banking mechanism of the Second Wave, having a reduced

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flexibility, left behind in contorted patterns, begins a process of adapting


itself visibly.
Like all new ideas, leasing has started to expand in the world. Reaching the
old continent, first in England and in West-Germany, it became an active
presence in the French, Belgian, Dutch, Italian, Swedish, etc. economy. The
juridical mechanisms are put into action. The first laws and reglementations
begin to appear. In 1972 the European Federation of Leasing Societies
(Leaseeurope) came into being; it is mainly an association that supervises
approximately 80 per cent of the leasing financial industry of the continent.
Thus the amount that comes to leasing is of about 8 percent from the total
world investments. The monetary value of the rented goods increases
annually. Numerous individual members of the so-called leasing
communities are great transnational corporations, e.g. GATX Leasing
Corporation, with branches that spread in many countries, or like Orient
Leasing Company, Ltd. that operates in Japan, China, Malaysia, Indonesia,
Philippines, Thailand, Sry Lanka, Brasil, Venezuela, Chile, Dutch Antilles,
D.S.A. and Holland. This example gives a clear image of the expansion, in
the entire world, of such a company that makes its presence felt everywhere.
Leasing has penetrated, especially, in the domain of machines and
equipment; through renting, not only standard, series equipment, means of
transport, and machine tools are taken in, but also printing equipment,
textile and medical machines, laboratory equipment, etc.
V. Translate into English:
Leasingul este, n condiiile n care se practic prin societi de leasing sau
ali intermediari, o operaiune triunghiular care implic trei parteneri cu
interese complementare; ctigul urmrit de una din pri depinde de
comportarea celorlalte:
- furnizorul bunului aflat n proprietatea sa (poate fi simplu vnztor
sau productor) are interesul s-i vnd produsul i ncheie un contract de
vnzare-cumprare cu finanatorul operaiunii de leasing, asumndu-i, pe
lng obligaiile tipice unui vnztor, i anumite obligaii caracteristice:
livrarea i instalarea echipamentului comandat la data i la locul convenit,
garania c echipamentul livrat este conform cu ceea ce s-a specificat, deci
garanteaz buna desfurare a activitii utilizatorului;
- finanatorul este, de regul, o societate de leasing sau una financiar,
banc specializat n plasarea capitalului n investiii pe durat medie sau
lung, n condiii optime de rentabilitate, aceasta interpunndu-se ntre
furnizor i client;
- utilizatorul este, n realitate, personajul central al ntregii operaiuni,
de capacitatea sa depinznd, n mare msur, rentabilitatea ntregii afaceri.
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Utilizatorul i asum, n cadrul raporturilor de locaie, anumite obligaii


specifice ce decurg din caracterul irevocabil i intuitu personae al acestui
contract. El nu poate pune capt contractului, nici pentru o cauz de for
major; de asemenea, el nu poate transmite acest contract unei alte persoane,
iar subnchirierea are loc numai cu acordul expres al finanatorului.
Recurgerea la leasing poate genera o serie de efecte pozitive, sub forma
unor factori de antrenare, cum ar fi: obinerea de know-how aferent
exploatrii optime a unor maini, instalaii i echipamente moderne,
pregtirea personalului i ridicarea nivelului de calificare fr cheltuieli
suplimentare, scurtarea perioadei de execuie a unor operaiuni i realizarea
lor la un nivel calitativ superior, mbuntirea organizrii proceselor
economice i creterea gradului de integrare a produciei etc.

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UNIT 24

INSTRUMENTS OF PAYMENT
Management of international economic affairs uses a large number of
instruments of payment which involve financial and banking institutions,
trading companies and economic agents.
The main instruments of payment are:
The Bill of Exchange/The Draft
Promissory ote
The Cheque
The Card
THE BILL OF ECHAGE (B/E) /THE DRAFT
The Bill of Exchange is an unconditional order in writing addressed by one
person to another and signed by the person giving it. It requires the person to
whom it is addressed to pay on demand or at a fixed or determinable date a stated
sum of money to a person or to the order of a specified person or to a bearer.
There are three parties to a bill of exchange: the drawer, the drawee, the payee.
The drawer who gives the order to pay and may be the exporter, the seller the creditor.
The drawee is the person called upon to pay and may be the importer, the
buyer, the debtor.
The payee, the person to whom the money is to be paid; the payee may be a
bank, the drawer himself or any other mutual or corporate body in whose
favor the order to pay has been issued.
A bill of exchange is valid if:
a) It is a written document.
b) It states the place and date of its issue.
c) It contains the unconditional order to pay a stated sum of money (both in
figures and letters).
d) Its text includes the word "bill of exchange" in the language in which it is written.
e) It gives the exact name and address of the drawee.
f) It specifies the time of payment (the day when it falls due, the tenor) that
may be expressed in one of the following ways:
at a fixed day, for instance: 6th July, 2002 (day bill);
at a certain number of days "after sight" (a usance bill); It may
be payable 30 days after sight (30 d/s) or 60 days after sight
(60 d/s) or even at a later date;
"at sight", i.e. when it is presented to the debtor (a sight bill).
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g) It indicates the place the payment is going to be made (domiciled bill).


h) The name and address of the person of the firm in whose favour the
payment is made (the payee).
i) The drawer's signature.
Bills of Exchange are negotiable commercial instruments which facilitate
the settlement of international obligations, offer an easy means of
recovering the use of a floating capital and consolidate debts and facilitate
recovery in the event of default.
Foreign bills of exchange (B/E) (draft).
A foreign bill is an instrument of commerce and credit and can be used to
settle international transactions.
By a foreign bill of exchange (a draft or acceptance) you may order a debtor
of yours to pay a stated sum on presentation (at sight, on demand) or at a
future date to your order, to the order of somebody else or to bearer. You,
the creditor, will be the drawer. The debtor, upon whom the bill will be
drawn, will be the drawee. The payee will be the party to whom the money
will be paid. For the drawee, a bill of exchange is a bill payable, while it is a
bill receivable (a receivable) for the payee.
A foreign bill of exchange may be delayed or lost. Hence the reason why it
should be drawn in a set of three copies (first, second and third of exchange)
which are sent by successive mails. However do not forget that as soon as a
copy is paid, the other two will be cancelled. Do also bear in mind that a bill
of exchange is liable to stamp duties.
Before you use your bill of exchange as evidence of a debt, first present it to
the drawee for acceptance.
If the drawee (debtor) accepts it, he becomes the acceptor. He will signify
his acceptance by writing "accepted" and signing (inscribing his signature)
across the face of the bill. If he assents without conditions to your order, his
acceptance is general. Should he stipulate some particular conditions, it
would be qualified. The bill will be domiciled at the bank where he has his
account if he wants this bank to be the place of payment. You, the holder of
this accepted bill, may keep it till it comes to maturity (falls due) or you
may negotiate it, that is transfer it by endorsement to a specified person
known as the endorsee. You, the person negotiating the bill, called the
endorser, will sign the bill on the reverse. This transfers the property in the
bill of endorsee. The endorsee may be a creditor of yours or the bank at
which you will discount it (sell it) before it falls due.
Of course, the bank discounting your bill will deduct interest for the
accommodation (advance). Note that the drawer, or any person endorsing a
bill, is liable to pay all subsequent endorsees or holders if the drawee does
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not pay at maturity. Usually the drawee pays at maturity; a foreign bill is
drawn payable 30, 60 or 90 days after sight.
However a bill may be dishonoured by non-payment, namely payment is
refused and the bill is not met at maturity. Incidentally, a bill may also be
dishonoured by non-acceptance, having been presented for acceptance but
not accepted. In either case, the holder of a dishonoured bill must protest the
bill, i.e. have a protest drawn up on stamped paper by a notary person and
may then start legal proceedings, i.e. bring an action for recovery against the
drawer or any endorser abroad.
Bill of exchange form

________________
(sum in figures)

London _________________
(date)

______________after date
(period)
order the sum of ____________________________ pay to me or my
_________________________________________________________
(sum in letters + name and address of the payee)
_________________________________________________________
(sum in letters value received)
_________________
(signature)
PROMISSORY OTE
Another payment and credit instrument used in international exchanges is
the promissory note. It differs from a bill of exchange in several respects.
First of all it is not an order but a promise to pay (I promise to pay ...)
whereas a bill of exchange is an order to make a payment (Pay ...)
Consequently there are only two parties to a promissory note:
the maker
- the one who makes the promise and writes the note;
the payee
- the one who is to be paid;
Legally, promissory note is an unconditional promise in writing, signed by the
maker (debtor) to pay a certain sum of money, on demand or at a certain future
date. Promissory note is a negotiable instrument and can be transferred by

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endorsement. It is a formal document which may be produced as evidence of a


debt and it is subject to stamp duties according to its value.
Promissory note
$ ................

........... Street
21st May, 200__

Three months after date I promise to pay to Mr. David Brown, or


order, the sum of $ ..........................., value received.
.
(signature)
Payable at ......... Bank
.........Street, ..................
I.O.U.

One may occasionally meet a document headed by the letters I.O.U.


I.O.U.
One Thousand Dollars

22nd November, 2002

DAVID FROST

I.O.U. (I owe you) is not a means of payment, it is a simple written


acknowledgement of a debt. Unlike a promissory note, it has no real legal
value, it requires no stamp and it is not transferable by endorsement.
Sometimes, but not always, the name of the creditor is given, but it is
essential that no date for payment is stated because this would change it into
a promissory note.
THE CHEQUE
The cheque is a convenient means of payment and it is much safer than the
use of cash.
The cheque is a written order to a bank, given and signed by the person
having money deposited there, to pay the amount mentioned on the cheque
to the person named on it.
There are three parties to the cheque:
- the drawer - the person who writes out the cheques;
- the drawee -the bank on which the cheque is drawn;
- the payee - the one to whom the payment is made.
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The person who writes out the cheque is called the drawer, the one to whom the
payment is made is the payee while the bank on which it is drawn is the drawee.
The cheque is used both as a payment and credit instrument and it is largely
used in commercial transactions.
A cheque is valid if it contains the following essential elements (in
accordance with law no. 59 in 1934):
the word "cheque" included in its text;
the unconditional order for a stated sum of money to be paid (given
both in figures and letters);
the exact name of the drawee, the bank that will honour the cheque;
the drawer's signature or that of the bearer;
the name of the payee;
the exact place and date the cheque was made out.
Cheques may be made out "to bearer" or "to order".
A bearer cheque is paid in cash by the bank on which it is drawn to any
holder who presents it for payment.
In case of an order cheque, the holder cannot obtain the money without
"endorsing" the cheque, that is signing his name on the back of it. This order
cheque is safer than a cheque to bearer.
The cheque is generally paid at sight.
There is a large variety of cheques:
- the crossed cheque (also named/termed closed cheque) is paid in another
bank's account;
- the uncrossed cheque (also named open cheque) enables the payee to get
the money in cash;
Crossing may be: general (when there is nothing written in between the two
parallel lines printed across the cheque, only the "bank is written") and or
special, when the name of the bank is written in between the two lines;
General crossing can be turned into special crossing.
- circular cheque - issued by an authorized banking unit for the amount
cashed from the owner when issuing and it is payable at sight in one of the
places alternatively mentioned by the issuer (the maker);
- the cheque payable in account - when the drawer or the owner forbids
payment in cash, writing across the cheque "payable in account" or "only for
banking transfer".
- non- transferable cheque- this being mentioned on it; it may be paid
only to receiver or at his demand.
- traveller's cheque; the issuer undertakes to pay by this formula: "The Drawer
pays this traveller's cheque to .... or at his order". This kind of cheque used in
travels is accepted by hotels, restaurants, stores, banks, gas stations etc.
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- certified cheque the issuing bank guarantees by certifying (certification)


signing the cheque on recto, the existence of covering and its availability till
the term of prescription on 6 months expires;
- postal cheque is a banking service provided by post office and it is very much
used especially in those areas not having branches or agencies of banks.
Sample of a cheque
No.
Bucharest, March 22nd, 2002
Commercial Bank
Pay to Mr. Emil Popescu or to order the sum of two hundred pounds.
Adrian Dinescu
200
THE CARD
The card is more and more used nowadays. It is a very important and
modern instrument of payment.
There are numerous types of cards:
cash card;
debit card;
credit card;
cheque guaranteed card.
The cash card is an instrument by which the owner may deposit or
withdraw cash by cash dispenser (ATM).
The debit card is a type of plastic money which allows payment to be taken
directly from your bank account. To pay for the shopping, the cashier swipes it
into an input device, the card reader, which reads the relevant bank account
details from he card's magnetic side and then uses these as a key to electronically
unlock your bank account and also the right amount be transferred to the shop
bank account. Confirmation of the sale is output. All the customer has to do is to
confirm with the signature which also acts as a security check. No cash changes
hands. Everything is dealt with automatically. The card is all you need. It's quick,
easy and people don't need to write cheques or carry too much cash.
The credit card is a bit different from debit cards, because the money you
are using is not actually yours. You borrow it from a credit company and
pay it back at a later date.
But because of this there is a great temptation to overspend, it's really
important to make sure you can afford to pay the credit company back
otherwise you can end up in all sorts of trouble.
130

However, the good thing is that the technology behind these things doesn't only
make buying easier in your country, it can also help you anywhere in the world.
Credit cards are plastic cards issued to individuals, not necessarily
customers of a bank, which have on the front, the person's name, credit card
number, date of expiry ....
On the reverse of the card is the signature of the holder and the basic
conditions of issue.
The cheque guaranteed card is an instrument which guarantees that the
amount to be paid on the cheque is covered in the owner's personal account. It
may be used both as a credit card or debit card and also as a cash card.
The card has been issued for its advantages:
it is a modern and convenient way of doing shopping. i.e. when you
want to buy something you simply present your card to the seller,
and payment is automatically made from your account;
your money cannot be used by another person without knowing your PIN;
it offers you greater security against possible theft;
you don't need to carry too much cash any longer.
On the other hand there are also some disadvantages of using the card:
not all the shops accept all sorts of credit cards;
there is a great temptation to overspend;
the prices of goods and services are higher as they include the credit
card company's fee.

VOCABULARY
drawer
drawee
payee
tenor
to settle
delay
hence
endorsement
endorsee
endorser
to deduct
to dishonour
maker
payee
bearer
crossed

= trgtor
= tras
= beneficiar
= scaden, termen de plat
= a achita, a rezolva, a stabili
= ntrziere
= de aici, din acest motiv
= andosare, gir, aprobare
= andosator, girator
= andorsant, girant
= a scdea, a face o scdere din
= a nu onora
= emitent
= beneficiar
= purttor
= barat
131

bill of exchange/draft
sight bill
domiciled bill
floating capital
foreign bill of exchange
to be liable to
to come to maurity
to fall due
blank endorsement
promissory note
on demand
cheque to bearer
cheque to order
at sight
certified cheque
cash card
debit card
cheque guaranteed card
cash dispenser
ATM
PIN
protest

= cambie, trata
= trat la vedere
= trat domiciliat
= capital fluctuant
= trat extern
= a fi supus ............
= a ajunge la ziua scadenei
= a ajunge la ziua scadenei
= andosare n alb (fr specificarea numelui
girantului)
= bilet la ordin
= la cerere
= cec la purttor
= cec la ordin
= la vedere
= cec certificat
= card de retragere de fonduri
= card de plat
= card de garanie a cecurilor
= main automat de eliberare a numerarului
ctre posesorii de cartele
= Automatic Telling/Teller Machine
= Personal Identification Number
= a declaration in writing made by the notary
person (US notary public) on behalf of the
holder of the bill, protesting all parties for
any loss or damage by the non-acceptance or
non-payment of the bill.

DISCUSSIO%
I. Enlarge on:
1) Bill of exchange; the parties to a bill of exchange.
2) The essential elements of a bill of exchange.
3) Promissory Note; the parties to a promissory note; the meaning of I.O.U.
4) The Cheque; the parties o a cheque.
5) The essential elements of a cheque
6) Types of cheques
7) The Card - a modern instrument of payment, advantages and disadvantages
8) Types of cards.

132

II. Translate the following sentences into English:


1) Conform condiiilor noastre de plat, am tras o trat asupra
dumneavoastr la 90 de zile de la vedere pentru suma facturii anexate.
2) V rugm s anexai urmtoarele documente la trata dumneavoastr: dou
conosamente, dou facturi comerciale, o poli de asigurare.
3) Vei fi autorizai s tragei o trat de 60 de zile asupra noastr penru
valoarea facturii dumneavoastr dup ce va fi exectuat expediia mrfii.
4) Trata dumneavoastr va trebui s includ toate cheltuielile pn la Consantza i
comisionul nostru de reducere de pre (discount commission) cu 6%.
5) Spre deosebire de trat, un bilet la ordin este emis de debitor.
6) Contul su este descoperit (overdrawn/in the red).
7) Nu tii care este numrul contului su curent?
8) Putei achita suma prin mandat potal, dac vi se pare mai uor.
9) Intenioneaz s deschid un cont pentru depuneri la una din sucursalele noastre.
10) Era un cec la purttor, din cte mi aminesc.
11) Mergei la cellalt ghieu pentru retrageri la vedere.
12) Intenioneaz s ne plteasc n rate ealonate pe 12 luni.
13) Presupun c preferai s pltii cu bani ghea.
14) Trata ajunge la scaden la sfritul lunii.
15) n acest moment evit emiterea de cecuri, deoarece contul meu este deja
descoperit.
16) Cecurile descoperite (bad/dud cheques) i fac pe tot mai muli vnztori
cu amnunul s refuze acest instrument de plat i s solicite pli n
numerar pentru valori mai mici.
17) Deintorul de card de credit trebuie s informeze imediat biroul nostru
cel mai apropiat n caz de pierdere sau de furt.
18) n ultimii ani plile prin cri de credit s-au nmulit n detrimentul
celor prin cecuri.
19) Bancomatele dau acum posibilitatea efecurii celor mai multe operaii
curente, ca retrageri i transferuri.
20) Datorit nmulirii bancomatelor, bncile tind s-i reduc numrul
sucursalelor.

133

III. Translate into English


a)
Stimai Domni,
Avem plcerea s v informm c am dat instruciuni Bncii Comerciale din
Bucureti s accepte i s onoreze n numele nostru tratele dumneavoastr
trase asupra lor la 30 de zile de la vedere, pentru achitarea facturii
dumneavoastr. Tratele vor fi nsoite de conosamente i certificate de
origine penru mrfurile comandate de la dumneavoastr.
Cu stim,
b)
- Am primit un telefon de la banc. Nu am putut ncasa cecul d-lui.......
Li s-a spus c nu erau sufcieni bani n contul su.
- M surprinde s aud aceasta. Ar fi pentru prima dat. Putei, v rog, smi amintii suma?
- Este vorba de o sum doar de 100 de lire.
- Ce fel de cec v-a dat?
- ... Era un cec potal. De obicei ne pltete prin cec bancar sumele mici
i prin trate pentru sumele mari.
- Trebuie s-i dai un telefon. V va plti cu siguran, imediat.
- Aa vom face. nc ceva, v rog. Am primit veti proaste despre
domnul J. Heart, tii, vnztorul care dorea s primeasc marfa imediat ....
- tiu despre cine vorbii. Este prima lui comand la noi?
- Da. I s-a desfiinat deja un cont curent i are reputaia c este un ru
platnic (slow payer).
- n aceste condiii, cerei plata la comand. Livrarea nu se va face
nainte ca suma s fi fost vrsat n contul nostru.
- n regul, asta e tot.

134

UNIT 25

METHODS OF PAYMENT
The methods of payment used in international commercial transactions are:
The Documentary Credit
Cash Against Documents
The Payment Order
The Bank Guarantee Letter
THE DOCUMETARY CREDIT
The Documentary Credit is the most frequent method of payment nowadays. In
case of a Documentary Credit, the buyer's bank opens a credit in favor of the
seller, or asks the seller's bank to open a credit in favour of the seller, the latter
being thus able to draw drafts on the bank to the specified amount.
The document evidencing the opening of the credit is the letter of credit.
Letters of credit are the most frequent means of payment used in foreign
transactions as they rule out the risk of non-payment.
Letters of credit are credits opened in favour of an exporter by an importer
and to do this the importer must deposit a substantial part of the total
amount with his own bank who will hold it until the credit is paid. The
purchaser cannot, therefore, use the money for other purposes and the
exporter has in effect a lien on it.
A Letter of Credit (L/C) is a letter issued by a bank authorizing an individual or a
firm to draw on it up to the total amount for which the credit is established.
Types of Documentary Letters of Credit (DL/C)
A documentary credit can either be revocable or irrevocable, confirmed or
unconfirmed.
Revocable credits are very rarely used as they can be revoked at any time.
Irrevocable Letters of Credit cannot be revoked or cancelled by the
importer in any circumstances, so it gives the importer rather more security.
The Commercial Letters of Credit are a credit issued by a bank
directly on behalf of the beneficiary. Such credits foresee that the documents
are negotiable, that the amount of credit is payable at one of the several
correspondent banks of the issuer and the latter undertakes to reimburse the
correspondent bank in respect of the payment it has made.
Documentary Letters of Credit available by Sight Drafts are DL/C
which call for the presentation of sight drafts in addition to the usual documents.
135

Documentary Letters of Credit available by Unasked Drafts are


different from DL/C available by Sigh Drafts is that instead of receiving
cash payment, the drawer of a unasked draft will obtain the drawee's
acceptance. i.e. The latter undertakes to effect payment on the date it
falls due.
According to the clauses they contain Documentary Letters of Credit
may be:
Documentary Letter of Credit with Deferred Payment
Revolving Documentary Letter of Credit is used when delivery is
made in instalments and agreed upon with the seller. The L/C opened will
cover the value of the first delivery.
Red Clause Credit includes a special concession to the Seller. The
confirming bank makes payment of part of the credit amount to the
beneficiary as an advance. Its name derives from he fact that it is usually
written in red ink.
"Red Clause A $ 70,000 permitted"
Transferable Documentary Letter of Credit is used when the seller
is not the actual producer or manufacturer of the goods and thus cannot
dispose of them at the time of sale. He will request the buyer to arrange for
an irrevocable and transferable L/C in his favor. The confirming bank is
instructed to transfer the credit in favor of his own supplier.
The Back to Back Credit. The seller of the goods is not the actual
manufacturer and only an export agent. He may ask for a transferable DL/C
in order not to disclose the goods originate elsewhere; he can request the
advising of a bank to issue a new DL/C in favour of the supplier. It is used
in reexporting operations.
The documents required to utilize a DL/C are:
- The invoice which proves that the goods legally belong to the
importer when it bears the mention "Paid out" or "Payment by DL/C"
- The Bill of Lading (sea or river).
- The Insurance Policy or the Insurance Certificate to prove the goods
have been insured.
- The Qualitative Reception Certificate: certificates proving the
qualitative reception: SGI - Standard General Inspectorate or GCO Goods
Control Office certificates.
- The works Test Certificate, the Guarantee Certificate, the Marking
Card.

136

Documentary credit form


SEDER
PLEASE OPEN THE FOLLOWING
IRREVOCABLE
REVOCABLE DOCUMENTARY
CREDIT

PLACE:

BENEFICIARY'S BANK
(IF KNOWN)

DATE

BENEFICIARY
AMOUNT:

DATE AND PLACE OF EXPIRY:


PARTIAL SHIPMENT
ALLOWED NOT ALLOWED

PLEASE ADVICE THIS BANK


BY LETTER
BY TELEX
BY CABLE
BY FAX

TRANSHIPMENT
ALLOWED
NOT ALLOWED
GOODS INSURED BY
US
SELLER

TERMS OF DELIVERY
(FOB, CIF, C&F)
LATEST DATE OF SHIPMENT:
FOR
TRANSPORATION
TO:
DOCUMENTS MUST BE PRESENTED NOT LATER THAN .... DAYS
AFTER DATE OF DESPACH
BENEFICIARY MAY DISPOSE OF THE CREDIT AMOUNT AS FOLLOWS:
AT SIGHT UPON PRESENTATION OF DOCUMENTS:
AFTER 30 DAYS CALCULATED FROM THE DATE OF ................
BY A DRAFT DUE ON .......; DRAWN ON YOU ; DRAWNON ON YOUR
CORRESPONDENTS WHICH YOU/YOUR CORRESPONDENTS WILL PLEASE
ACCEPT
AGAINST SURRENDER OF THE FOLLOWING DOCUMENTS:
INVOICE (3 COPIES)
AIR WAYBILL
SHIPPING DOCUMENT INSURANCE CERTIFICATE (3 COPIES)
COVERING THE FOLLOWING RISKS
BILL OF LADING
DUPLICATE WAYBILL ADDITIONAL DOCUMENTS (SPECIFY)
NOTIFY ADDRESS IN BILL OF LADING
GOODS:
YOUR CORRESPONDENTS TO ADVISE BENEFICIARY
ADDING THEIR CONFIRMATION
NOT ADDING THEIR CONFIRMATION
PAYMENT TO BE DEBITED TO OUR ACCOUNT
SIGNATURE
NO:
DISPACH
FROM:

137

CASH AGAIST DOCUMETS (CAD)


When using this method of payment, the importer (the buyer) accepts the
payment of the documents remitted by the seller through/by a remitting bank of
the two partners: the sellers bank which, at his demand (request) deposits the
forwarding documents and the buyers bank which contains his account.
A) Documents against payment (d/p)
The exporter (seller) ships the goods and hands the shipping documents to
his bank together with a sight draft. The bank sends the documents and the
draft to its correspondent abroad which surrenders them to the buyer against
payment of the amount of the draft.
B) Documents on acceptance (d/a)
The exporter (seller) ships the goods and surrenders the shipping documents
together with a time draft, to his bank. The bank sends the documents and
the draft to a bank abroad acting as its correspondent, which surrenders
them to the buyer against his accepting the draft.
Cash Against Documents is less safety for the exporter than DL/C as the
merchandise is delivered on the buyers address without having any
guarantee of payment. This can be avoided by:
asking a bank guarantee;
using drafts drawn on the buyer;
asking certain amounts in advance;
by vinculation that means dispatching the goods merchandise to, at
the destination (station) mentioning that the goods should be given against
an advice proving (that) the payment has already been made.
THE PAYMET ORDER
The Payment Order is an order given by the importer (buyer) to a certain
bank to pay a certain amount to the exporter (seller) for the delivered goods
or services rendered.
The payment order may take the form of a letter addressed to a bank or it
may be a telegraphic order when payment is made against a telegram sent to
a bank that is to make payment.
It may be simple when the bank, makes payment against a simple receipt
issued by the payee.
It is an order against documents when the bank makes payment against the
documents proving the delivery of the goods.

138

Sample of Payment Order


Romanian Bank for Foreign Trade
PAYMENT ORDER No. ..................
Paying Bank
Please notify and pay
Beneficiary
Account with

Date ....................
By order of ..............
Order dated
Details of payment
Amount
in words
with out charges for

us
debit our account
This sum is being credited to
the account of your office
Yours faithfully,
ROMANIAN BANK FOR FOREIGN TRADE
BAK GUARATEE LETTERS
A bank guarantee letter is a document annex used in making payments in
international economic exchanges, whereby a first order bank undertakes to
make payment, if a legal or natural person, called the principal debtor, fails
to pay a certain amount of money at the stipulated time, in favour of another
legal or natural person called the payee or beneficiary.
As a rule, guarantee letters are issued by banks.
As an exception, guarantee letters can also be issued by reputable
commercial firms.
Bank guarantee letters are issued to:
guarantee an export;
guarantee an import;
effect a transfer;
open a letter of credit;
pay a commission;
participate in tenders.
The obligation assumed by the issuing bank of the guarantee letter is a
secondary one, while the main obligation to make the payment out rests
with the principal debtor. Any obligation deriving from a bank guarantee
letter over and above the amount of the principal obligation is null and void.
In the event that the principal debtor has not settled his account when
payment is due, the beneficiary approaches the bank within a specific date
for which the bank guarantee letter has been issued. If the bank fails to
139

effect payment, the beneficiary resorts to the court of law to obtain


execution of the guarantee letter and payment of the amount. The
beneficiary must return the guarantee letter only after he has cashed the
amount of money.
Essential Elements of the Bank Guarantee Letter
The bank guarantee is usually given in the form of a letter which contains
the following essential elements:
- the types of guarantee (simple, solidary, irrevocable);
- the name and address of the guarantee bank;
- name and address of the legal or natural person to be guaranteed;
- name and address of the beneficiary;
- the object of guarantee;
- value of the guarantee expressed in a specified amount;
- date of payment;
- validity of the guarantee;
- special clauses related to the extension of the date of payment,
reduction of the amount, etc.
Types of Bank Guarantee Letters
Foreign trade enterprises can use the following types of letters:
a) Received Guarantee Letters:
- guarantee letters whereby a foreign bank guarantees the opening of a
letter of credit;
- guarantee letters whereby a foreign bank guarantees directly payment
of the respective amount, if the sales are effected on credit;
- guarantee letters in the frame of a consignment contract, whereby a
bank guarantees either the return of the goods or the payment of the
respective amount, as stipulated in to consignment contract;
b) Issued Guarantee Letters
- guarantee letters whereby advance payments given by foreign
customers are guaranteed in the case of failure by a foreign trade enterprise
to deliver the goods in accordance with contract provisions (stipulations);
- guarantee letters with a view to carrying out contract stipulations
adequately;
- provisional guarantee letters for participation in various auctions.

140

Sample of Letter of Guarantee


Swiss Bank Corporation

(beneficiar = lender)
.
(place, date)
LETTER OF GUARATEE o. ..
As security for a credit line which you will guarant to
.. (borrower) we, Swiss Bank Corporation,
(address), waiving all right of objection and defense arising from said
credit relationship, hereby irrevocably undertake to pay immediately to
you, upon your first demand, any amount up to
..........(currency/maximum amount) (in full letters )
(including principal, interest and all other changes upon receipt of your
written request for payment and your written confirmation stating that .
(borrower) has not repaid the amount claimed under this guarantee on the
due date.
Our guarantee is valid until
.
And expires in full and automatically, should your written request and
your confirmation not be in our possession by that date, irrespective of
whether the present instrument is returned to us or not.
With each payment under this guarantee our obligation will be reduced
pro rata.
Swiss Bank Corporation

VOCABULARY
instalment
to surrender
importer
exporter
receipt
tender
auctions
letter of credit
to open (to establish) a credit
instalment payment

= tran, plat parial;


= a preda
= importator, ordonator
= exportator, beneficiar
= chitan
= ofert real, ofert de licitaie
= licitaii
= scrisoare de credit
= a deschide un acreditiv
= plat a unei rate
141

instalment sale
red clause L/C
back to back L/C
cash against document
payment order
bank guarantee letter
null and void

= vnzare n rate
= acreditiv cu clauz roie
= acreditiv dublu
= incasso documentar
= ordin de plat
= scrisoare de garanie bancar
= nul i neavenit

DISCUSSIO%
I. Enlarge on:
1. The Documentary Credit types of letters of credit.
2. The documents required to utilize a DL/C.
3. Cash Against Documents.
4. The Payment Order.
5. Bank Guarantee Letters.
6. The essential elements of the bank guarantee letter.
7. Types of bank guarantee letters.
II. Translate into English the following Irrevocable Documentary Credit:
a)
Stimai Domni,
Conform recomandrii Bncii Comerciale, v informm c aceasta a deschis n
favoarea dumneavoastr, Acreditul nr. . prin care vom accepta o trat tras
asupra noastr de dumenavoastr la 90 de zile dup vedere pentru o valoare care nu
depete $40.000 (patruzeci USD) n contul firmei . din
Toate tratatele trase prin acest Acreditiv trebuie nsemnate cu Trase prin
BANCA COMERCIAL Acreditiv nr. .. i trebuie nsoite de
urmtoarele documente:
setul ntreg al Conosamentului, andosat n alb;
facturile;
polia de asigurare pentru valoarea CIF plus 20% care s
evidenieze mbarcarea a 400 frigidere pentru Romnia.
Acest acreditiv expir la 23 iulie 2002.
Nu sunt permise ncrcri pariale.
Prin prezenta ne obligm s onorm toate tragerile ce ne vor fi prezentate n
conformitate cu termenii acestui Acreditiv.
V rugm s observai c toate condiiile acestui Acreditiv trebuie s fie n strict
conformitate, ntruct, n caz contrar, nu vom putea accepta tratele trase prin el.
Cu stim,
BCR/Romnia
142

b)
Data: 19 martie 2002
De la: Eximbank Bucureti, Romnia
Ctre: Banca Barklay, Londra, Anglia
Forma acreditivului documentar: irevocabil
%umrul acreditivului documentar 2572
Data emiterii: 2 martie 2002
Data i locul expirrii: 21 iunie 2002, la ghieele Bncii Barclay
Ordonator: S.C. ALPINTEX S.A., Piteti, Romania
Beneficiar: Green Co, Londra, Anglia, cont nr. 5000300788 la Banca
Barklay, Londra, Anglia
Suma: 40 000 lire
Plata: ctre dvs. la vedere, la ghieele Bncii Barclay, Londra, Anglia
Livrri pariale: neadmise
Transbordri: permise
ncrcare/descrcare: Green Co Anglia/S.C. ALPINTEX S.A., Romania
Destinaia final: S.C. ALPINTEX S.A., Piteti
Termenul limit de expediere: 21 mai 2002
Descrierea mrfii: mobil rustic
Condiia de livrare: CIP Piteti
Documente cerute:
1. factur n original i dou copii, tampilat i semnat pe exemplarul
original, continnd confirmarea vnztorului c mrfurile sunt cele din
comanda nr. 7096/02.03.2002;
2. duplicatul scrisorii de trsur rutier confirmnd data expedierii
mrfurilor, ncrcarea/descrcarea: Green & Co, Anglia/Alpitex,
Romania, condiia de livrare CIP Piteti, destinaia final Alpintex S.A.,
Romania, la dispoziia irevocabil a cumprtorului, confirmnd
greutatea brutto/netto, numrul camionului i meniunea: transport pltit
anticipat.
3. certificatul de calitate, n original i dou copii, datat, tampilat i semnat
pe exemplarul original i copii confirmnd c mrfurile corespund
specificaiei cmanda nr. 7096/02.03.2002 a firmei S.C. Alpintex S.A.;
4. copia textului i a faxului transmis cumprtorului n maximum 24 de ore de la
expedierea mrfurilor, indicnd data livrrii, numrul camionului, descrierea
mrfurilor, greutatea brutto/netto i valoarea mrfurilor;
5. certificatul de garanie n original, datat, tampilat i semnat de vnztor,
garantnd pentru o perioad de 3 luni de la data recepiei mrfurilor, calitatea
acestora i coninnd angajamentul vnztorului de a nlocui prile defecte pe
cheltuiala sa, n conformitate cu condiiile comenzii nr. 7096/02.03.2002;

143

6. polia/certificatul de asigurare, n original, emis sau andosat la ordinul


S.C. Alpintex S.A. pentru 110% din valoarea facturii, n condiia de
livrare CIP Piteti, acoperind toate riscurile;
7. copia textului sau faxului trimis de vnztor cumprtorului prin care se
atest c urmtoarele documente nsoesc mrfurile:
factura comercial n dou exemplare originale i o copie, datate,
tampilate i semnate pe original i copii;
certificatul de calitate un exemplar original i o copie;
declaraia de conformitate n original.
8. declaraia vnztorului, datat, tampilat i semnat, atestnd c simultan cu
livrarea mrfurilor, a trimis pe adresa cumprtorului par-avion/recomandat,
un exemplar original al facturii i dup al specificaiei mrfurilor, ca i
fotocopiile certificatului de calitate i al declaraiei de conformitate.
9. certificatul de origine, n fotocopie;
10. originalul declaraiei de conformitate, datat, tampilat i semnat;
11. originalul i o copie dup specificaia mrfurilor, datate, tampilate i semnate.
Condiii suplimentare:
plile sub rezerv i/sau garanie nu sunt permise
Speze i comisioane:
toate spezele i comisioanele n afara Romniei vor fi suportate de beneficiari.
Perioada pentru prezentarea documentelor:
Documentele trebuie prezentate n 21 de zile de la data documentului de
transport n cadrul perioadei de valabilitate a acreditivului.
Instruciuni de confirmare:
Rugm s avizai pe beneficiar adugnd confirmarea dvs. (la celelalte
documente) numai la cererea expres a beneficiarului i pe cheltuiala sa,
fr taxe pentru noi (banca emitent), informndu-ne corespunztor.
Instruciuni pentru banca pltitoare/acceptant/negociatoare:
Pentru efectuarea plii pe baz de documente, n strict conformitate cu
termenii i condiiile acreditivului, v autorizm s debitai contul nostru (de
corespondent) la dvs., avizndu-ne prin telex verificat fr speze n sarcina
noastr, n 4 zile lucrtoare naintea datei valutei.
Telexul dvs. verificat va certifica, de asemenea, c ne-ai expediat par-avion,
documentele conforme cu acreditivul. Avizarea se va face prin
intermediul Bncii Naionale din Londra, str. ., Londra, Anglia.
Informaia expeditorului ctre destinatar:
Acreditivul se conformeaz regulilor i practicii uniforme pentru acreditive
documentare revizuite n 1993 prin Publicaia 500 a C.C.I. Paris.
Cu stim,
Eximbank/Romania.
144

c)
Instruciuni pentru banca pltitoare (acceptant/negociatoare)
Pentru efectuarea plii pe baz de documente, n strict conformitate cu
termenii i condiiile acreditivului, v autorizm s debitai contul nostru (de
corespondent) al dvs., avertizndu-ne prin telex verificat fr speze n
sarcina noastr, n 4 zile lucrtoare naintea datei valutei.
Telexul dvs. verificat va certifica, de asemenea, c ne-ai expediat par-avion,
documentele conforme cu acreditivul. "Avizarea" se va face prin
intermediul Bncii Naionale din Londra, str. ..............., Londra, Anglia.
Informaia expeditorului ctre destinatar:
Acreditorul se conformeaz regulilor i practicii uniforme pentru acreditive
documentare revizuite n 1993 prin Publicaia 500 a C.C.I. Paris.
Cu stim,
Eximbank/Romania
d)
SCRISOARE DE GARA%IE BA%CAR %r. .
Data emiterii
Data expirrii ..
Ctre,
Confirmm prin prezenta scrisoare c garantm plata n favoarea vmii ..
pn la suma de . a valorii taxelor vamale aferente operaiunilor
temporare efectuate de dumneavoastr.
Dac la expirarea termenului de valabilitate a operaiunii temporare taxele vamale se
datoreaz, acestea vor fi achitate dumneavoastr din contul .. deschis la ..
unitatea noastr, n lipsa de disponibiliti din contul de mprumut nr. ..
n caz de neconfirmare, unitatea vamal respectiv va emite documentele de
decontare fr acceptul dumneavoastr pentru a ncasa direct suma dorit.
Banca .
(semnturi autorizate)

145

UNIT 26

BILLS OF LADING; WAY BILLS


Bill of Lading
There are a number of documents used in overseas trade. The main
documents used in shipping are:
1. freight account is the invoice sent by the shipping company to the
exporter stating their charges
2. shipping note, with a receipt, is handed to the Superintended of the
docks advising him that the goods are to be shipped
3. dock receipt is returned to the consignor confirming that the goods
are stored and awaiting shipping
4. mates receipt may be sent, acknowledging that the goods have been
loaded, and serves as a document of title until the bill of lading is ready.
5. bill of lading is the most important of the shipping documents
The bill of lading (B/L) is a document of title, which gives ownership of the
goods to the person named on it. The bill of lading with the words to
order written on it means that it is a negotiable document and can be
traded. In the case it will be endorsed on the back (the exporter will sign it),
and if the endorsement is blank, there will be no restrictions on ownership.
A bill of lading serves three main and separate functions:
a) It is a contract between the carrier and shipper (exporter) in which the
former agrees to carry the goods from port of shipment to port of destination.
b) It is the shippers receipt for the goods.
c) The negotiable B/L, its most common form, is a document that
establishes control over the goods.
There are different types of bills of lading:
1) Shipped bill of lading certifies that the goods have been loaded on the
ship. Sometimes the words (shipped)on-board are used to mean the same
thing. By contrast, a received-for-shipment B/L merely acknowledges that the
carrier has received the goods for shipment. It does not state the ship is in the
port or that space is available. The cargo can, therefore, sit on the dock for
weeks, or even months, before it is shipped. When the goods are seasonal or
perishable, therefore, the received-for-shipment B/L is never satisfactory to
either the shipper or the importer. A shipped B/L is generally required when a
transaction involves settlement through a bank.
2) Clean bill of lading indicates that the goods have been examined by
the shipowners and they were taken on board in apparently good condition.
146

However, the carrier is not obliged to check beyond the external visual
appearance of the boxes.
3) Unclean/dirty/foul bill of lading indicates that on inspection there
was found to be something wrong with the consignment, i.e. the goods do
not correspond to the description stated on the B/L, e.g. the boxes are
damaged, or in poor conditions. This statement protects the shipping
company from claims that they were responsible for the damage or bad
condition of the consignment.
The bill of lading indicates the following: the consignee (importer), the
shipper (exporter), the vessel, the port of loading and the port of discharge,
final destination, freight, the number of original B/L, the nature of the
goods, the shipping marks, the total weight, etc.
A bill of lading is issued in three or four copies by the shipping company and
signed by the agent or the shipowner. One copy is retained by the shipper, one is
given to the ships captain and the other copies are mailed to the consignee.
Waybill
Besides shipping, there are three other methods of transporting goods; road,
rail and air which use the waybill as the main document. The waybill is a
transport contract between the consignor and the consignee that must
accompany all the shipments. According to the three types of transport
ways, the waybills can be:
1) railway waybill or rail consignment note is used in rail
transportation
2) air waybill (AWB) is the main document that accompanies every
air shipment.
3) truck waybill is the document used in road transport.
The Air Waybill consists of 12 copies distributed to the airline, exporter,
importer, and customs. Unlike the bill of lading, the AWB is only a receipt
and cannot be transferred to another person. It contains the following
elements: airport of departure, airport of destination, description of the
goods shipped, routes, destination and the charges.
The waybills used in road and rail transportation, and like the AWB they are
not documents of title, so ownership of the document does not mean
ownership of the goods. They are not negotiable, that is they cannot be
bought, sold, transferred by the consignor (the exporter), or the consignee
(the importer). The waybills are obtained by the consignor filling out an
instruction for despatch form, and paying the freight charges (the cost of
sending goods).

147

VOCABULARY
air waybill
= fraht aerian, scrisoare de transport aerian
bill of lading
= conosament, fraht al ncrcturii
consignor
= exportator, expeditor
consignee
= importator, destinatar
clean bill
= conosament curat
consignment note
= borderou de expediie
dirty bill
= conosament murdar
despatch form
= formular de expediere a mrfurilor
dock receipt
= chitana pentru taxa de platform
to endorse
= a andosa
endorsement
= andosare
mates receipt
= recipisa primului ofier
received for shipment
= preluat pentru transport
route
= linie, rut
shipowner
= armator
shipped on board
= ncrcat la bord
shipping note
= not de transport, de expediie
waybill
= scrisoare de trsur

DISCUSSIO%
I. Enlarge on:
1. The main documents used in shipping.
2. The main functions of a bill of lading.
3. Types of bills of lading.
4. Types of waybills.
II. Give the corresponding verbs to the following nouns and make up
sentences with:
shipment, ownership, endorsement, consignment transaction, transportation.
III. Match the definitions (a-f) below to the corresponding B/Ls:
1. shipped B/L
a) it acknowledges that the carrier has
received the goods for shipment.
2. straight B/L

b) it consigns the goods to a specific party,


normally the importer , and it is not
negotiable.

148

3. clean B/L

c) under such a B/L the goods are consigned


to the order of a named party, usually the
exporter.
4. received-for-shipment B/L d) it contains observations if the boxes are
damaged or in poor condition
5. foul B/L
e) it indicates that the goods were received in
apparently good condition
6. order B/L
f) it certifies that the goods have actually been
placed on board the vessel.
IV. Fill in the blanks with the appropriate words:
The B/L is the most important document in as it is the document of .
It gives of the goods to the person named on it.
A bill of lading is issued in three or four copies by and signed by the
agent or the .
The waybill is a transport contract between the and the that must
accompany all the .
The AWB is only a and cannot be transferred to another person.
Truck waybill is the document used in transport. The waybills are obtained
by the consignor filling out an instruction for , and paying the .
V. Write:
1. A request for quotation for delivery by road
In this letter should the furniture manufacturer is writing to a road haulage
firm asking them for an estimate to deliver furniture to his customer. You
should describe the packing, state the value of the consignment, and
mention a delivery time.
2. A quotation for delivery by road
This letter is the reply to the above one. The writer refers to the consignment
note as a receipt. He also quotes for Picking up and delivery the
consignment; carriers may quote for delivery or on a time basis (how long it
will take to load or unload the lorry or van).
VI. Translate into English the following complaint to the carrier:
Domnilor,
Borderou de expeditie Nr. 2346765
Transportul menionat mai sus ne-a fost livrat pe 12 septembrie i a constat n 8
cutii cu CD-uri i casete, dintre care trei au fost foarte ru avariate.

149

Am contactat furnizorii i ne-au informat c marfa a fost depozitat n


condiii corespunztoare. Prin urmare, presupunem c avarierea a avut loc n
timp ce bunurile se aflau n grija dv.
Cutiile purtau meniunea FRAGIL, dar datorit naturii de avariere a mrfii
(CD-uri i casete sparte) credem c nu a fost manipulat cu grij.
Estimm o pierdere n valoare de 4,370 i cum bunurile au fost trimise pe
riscul cruului solicitm o despgubire pentru aceast sum.
Vei gsi anexate copii ale borderoului de expediie i ale facturii, i v
ateptm s venii i s verificai avaria.
Cu stim,

150

UNIT 27

INSURANCE
I%SURA%CE PROCEDURES
Companies and individuals protect themselves against loss, damage, or injury by
taking out insurance policies, which are contracts against possible future risks.
The usual process of insuring a business or oneself is as follows:
The firm or person who wants an insurance cover completes a proposal form.
This tells the insurance company what is to be insured, how much the policy
is worth, how long it is to run, and under what conditions insurance is to be
effected, as the policy may not automatically cover the insured against all
risks. Underwriters, who will pay compensation in the case of a claim,
then work out a premium, i.e. the price of insurance.
The premium is usually quoted in pence per cent, i.e. pence per hundred
pounds. This means that for every 100 of insurance you will have to pay X
pence. So if you insure your stereo for 800 at 25p%, you will have to pay
2.00 per annum for the premium.
If the insurance companies are satisfied with the information given on the
proposal form, they will issue a cover note. This is not the policy itself, but an
agreement that the goods are covered until the policy is ready. Once the policy is
sent it will tell the client that he is indemnified against loss, damage, or injury
under the conditions of the policy. Indemnification means that the insurance
company will compensate the client to restore him to his original position before
the loss or damage. Therefore, if you insured your car for 4,000 and three
months later it was damaged, you would not receive 4,000 for the car, but its
market price, which might have depreciated by 20% to 3,200. The insurance
company will also have the right of subrogation, which means they can now
claim the damaged vehicle and sell it for any price they can get.
In the case of injury or death to an insured person, or in the case of Life
Assurance, where a fixed amount is to be paid over the years so that a total sum,
or pension, the principle of benefit payment comes into operation. This means
that the injured person will be paid compensation based on loss of earnings or
suffering. Life Assurance payments are calculated on annual contributions, plus
interest the company received on investing the premiums.
Insurance companies are large institutional investors on the stock market,
and by investing premiums they are able to cover claims for compensation
or pay on Life Assurances policies which have matured.

151

FIRE A%D ACCIDE%T I%SURA%CE


a) Fire insurance
Fire insurance companies offer three main types of insurance policy:
1. Insurance of home and business premises and their contents;
2. Special perils policies, which protect the insured person against loss or
damage due to special factors, e.g. flooding or earth quakes;
3. Consequential loss insurance, which insures against loss of profit in
the period after a fire, e.g. while a factory is being rebuilt.
b) Accident insurance
Accident insurance cover four areas:
1. Insurance of liability, which covers employers liabilities for
industrial accidents, accidents to people attending functions on company
business, and motor insurance.
2. Property insurance, which is part of the service fire offices provide, but
also includes a wide range of protection against riots, terrorism, gas explosions,
etc. Usually, the client takes out an all risks policy offering full protection.
3. Personal accident insurance, which offers compensation in the form
of benefit payments to people injured or killed in outings, playing games,
e.g. ice hokey, or traveling by train, coach or aircraft.
4. Insurance of interest protects firms against making costly mistakes.
For example, publishers might want to cover themselves against libel, i.e.
being sued for publishing something which damages someones reputation.
Accountants and lawyers protect themselves with insurance of interest. We
can also include under this head Fidelity Bonds, under which firms insure
against their employees defrauding them, or stealing from them.
CLAIMS
Companies and individuals make claims for loss, damage or accident, by
filling in a claims form, which tell the insurance company what has
happened. If the insurers accept the claim, often after an investigation, they
will then pay compensation.
The insurance company will not pay compensation if the claimant was
negligent; or suffered the injury or loss outside the terms of the policy; or
misled the insurers when obtaining insurance, e.g. overvalued the article; or
insured the same thing twice; or gave false information on the proposal
form. The insurer may, of course, offer less compensation than the claimant
is asking for. If the claimant disagrees with the offer, he can call in an
independent assessor, and then, if necessary, take the case to court. But
usually insurance companies are quite reasonable in their assessments, and
small claims are sometimes paid without question.

152

VOCABULARY
insurance policy
insurance company
broker
indemnification
indemnity
to cover
cover note
subrogation
to effect an insurance
to take up an insurance
to renew a policy
to claim
claimant, claimer
to make a claim
assessor
assessment
life assurance
fire assurance
accident insurance
insurance liability
interest
insurance of interest
fidelity bonds
eventuality
to take the case to court
premium
annuity
perils
to restore

= poli de asigurare
= companie de asigurri, societate
de asigurri
= agent
= compensaie, despgubire, garanie
= compensaie
= a asigura
= not de asigurare
= subrogare, nlocuire
= a face o asigurare
= a face o asigurare
= a rennoi o poli
= a cere, a pretinde despgubiri
= reclamant, pr
= a pretinde, a face o reclamaie
= consilier juridic, evaluator
= impozit, tax, evaluare
= asigurare pe via
= asigurare contra incendiilor
= asigurare contra accidentelor
= drept de asigurare
= proprietate supus riscului
= asigurare pentru o proprietate
supus riscului
= garanie, obligaiune
= posibilitate, eventualitate, risc
= a merge n instan
= prim de asigurare
= anuitate, rent viager
= pericole, riscuri
= a restabili, a repune

DISCUSSIO%
I. Enlarge on:
a) Insurance procedures
b) Fire insurance
c) Accident insurance
d) Claims

153

II. Give synonyms of the following:


damage; risk; to complete; cover; underwriter; agreement; client; injury; to
compensate; subrogation; to take to court; to claim; investigation; assessor.
III. Fill in prepositions:
marine insurance purposes, losses are divided two categories, both based
the word average which keeps its original meaning a loss sea.
General average refers any loss arising things done preserve the
safety the ship, insurance them, are borne all cargoes pro rata
their value etc.
IV. Join the halves:
1. Days of grace refer to the limited
period after termination
2. Lloyds of London are the great
marine insurers
3. For an insurance claim to be valid
there must be a financial loss
4. While life assurance means that
the sum assured is
5. With endowment assurance you
are able to save for the future while
6. A proposer is a person who has
completed a proposal form and is
7. Before an insurance claim can be
met there must be a financial loss and
8. Aviation insurance is
9. Employers Liability policies covers
the employers responsibility for
10. A fidelity guarantee policy is
aimed at
11. The crime rate will be of
particular interest to companies
12. Insurance brokers play a useful role in

a) having developed from an lighten


century coffee house in the heart
of the city.
b) offering cover against theft and
burglary.
c) enabling their clients to find the
cheapest and most effective cover.
d) during which non-payment of
premium is accepted.
e) the insured must complete a claim
form.
f) payable only when death occurs.
g) waiting for it to be accepted by
the insurance company.
h) providing safe working conditions
for his employees.
i) becoming increasingly important
as air traffic and freight grows.
j) insurance from a peril covered by
the contract.
k) protecting employers against the
potential dishonesty of employees.
l) insuring your life at the same time.

154

V. Translate into Romanian these specimen letters:

155

VI. Translate into English:


Domnilor,
Confirmm cu mulumiri primirea scrisorii dvs. din 18 septembrie a.c. prin
care ne-ai remis instruciunile cu privire la o asigurare contra tuturor
riscurilor pentru suma de 4,300 reprezentnd valoarea a 100 de rochii
expediate cu vasul Oltenia n contul Confex Bucureti.
Nota de asigurare fiind remis prin FAX conform cererii dumneavoastr, v
trimitem anexat un exemplar al poliei AAR ntocmit n conformitate cu
dispoziiile dumneavoastr. Dup cum vedei, v-am cotat la rata de 2,5%
reprezentnd cifra cea mai joas la care ne putem asuma riscul.
Anexm de asemenea i decontul nostru, rugndu-v s-l achitai prin banc.
Sperm c vei fi satisfcui de modul n care am executat dispoziiile
dumneavoastr.
Cu stim,
156

UNIT 28

MARINE INSURANCE
Sea transportation can be the most efficient means of shipping products that
are bulky, non-perishable and low in unit-value. With the development of
containerization, sea transportation is now considered a viable alternative
for many other classes of goods.
Nevertheless, sea travel is exposed to numerous risks such as fire, collision,
shipwreck, jettisons, barratry of the master and mariners, etc. As a result,
shippers and shipping companies protect their ships and their cargoes
against at sea risks by taking out marine insurance.
This unit discusses the different elements that make up marine insurance
policies, the various types available, and the kind of protection a company
might seek against at sea risks.
TYPES OF MARI%E I%SURA%CE POLICIES
Marine insurance subdivides into two branches: Hull insurance protecting
the ship against risks due to collision, running aground, fire or shipwreck,
and Cargo insurance covering the goods. Hull insurance policies are voyage
or time policies. A voyage policy covers a specified voyage, while a time
policy covers a particular length of time. Cargo insurance policies can be
voyage, valued, unvalued or floating policies.
1) Valued policies state the agreed value of the goods to be paid in case of
loss or damage, irrespective of the value when loss or damage occurs.
2) At signature, unvalued policies state a provisional premium but do
not specify the value of the goods until the type of risk is known. The
premium is adjusted when the value of the goods is known. In a total loss,
payment equals the value of the goods.
3) Floating policies usually insure large separate shipments of goods
for one year or longer.
There are two types of at sea risks to which a ship and its cargo are exposed,
and consequently, two types of protection.
1) Particular Average implies that when partial loss of a ship or cargo
is accidentally damaged, the value of the loss or damage is borne by the
owners of the damaged property.
2) General Average implies that when a partial loss of a ship or cargo
is incurred, for the common good, to preserve all imperiled interests (e.g.

157

goods damaged by water used to put out a fire), the loss is apportioned
between owner of all the cargo and the ship.
This givers rise to two types of policy: Free from Particular Average (FPA)
covering only the risks of General Average, and the other; With Particular
Average (WPA) covering the risks of General Average and Particular Average
losses. This all-in (all-inclusive) policy is the usual procedure.
RISKS
Risks represent certain events that may occur during transport and which
can have a consequence of total or partial damage or loss to the means of
transport or to the carried goods.
They may be divided into:
1. Marine risks, i.e. accidents due to the action of natural elements,
2. Special risks, i.e. risks which occur due to the physical and chemical
properties of the carried goods due to the same special reasons arising during
transport (leakage, breakage, rusting, faulty packing),
3. Exonerated risks, i.e. risks occurring due to the negligence and/or
the errors of the insured.
CLAIMS
All risks policies generally cover against every eventuality. However,
clauses should be studied carefully. If a policy is free from particular
average, in the case of deliberate damage, i.e. damage caused to save the
rest of the cargo, as in, say, the case of a fire in a ship, only total loss will be
paid by the insurance company, and part loss in the cause of major disasters,
e.g. fire or collision.
If the policy has a with particular average clause, than partial loss will be
compensated. Therefore, a policy with a WPA clause will cost more.
As in the case of large claims in non-marine insurance average adjusters, i.e.
assessors, are called in, to examine damage and estate compensation. In a
CIF transaction the exporters transfer their right to compensation, as the
importer holds the bill of lading.
In FOB and C&F transactions importers hold the insurance policy as they
arrange their own insurance.
SPECIME% LETTERS
a) Request for marine insurance quotation:
Kent, Clarke & Co. are forwarding agents for Delta Computers. They ask
Worldwide Insurance to quote a rate for their clients shipment to New
Zealand, which is outside the terms of their open cover agreement.

158

Kent, Clarke & Co. Ltd.


Reg. Oo. London 3395162
VAT Oo. 41618231 59
Telephone 074 9287716
Worldwide Insurance Ltd.
Worldwide House
Vorley Road
London O 195HD
Dear Sirs,
We will be sending on behalf of our clients, Delta Computers Ltd., a
consignment of 20 computers to O.Z. Business Machinery Pty., Wellington Oew
Zealand. The consignment is to be loaded on to the S.S. %orthern Cross which
sails from Tilbury on 18 May and is due in Wellington on 25 June.
Details with regard to packing and values are attached, and we would be
grateful if you could quote a rate covering all risks from port to port.
As the matter is urgent, we would appreciate a prompt reply. Thank you.
Yours faithfully,
J.D. Simpson
Supervisor
b) Quotation for marine insurance:
Worldwide Insurance Ltd.
In this reply to Kent, Clarke Worldwide suggests a valued policy, thus
covering the consignment for 22,000 plus 10%, against all risks including
war, strike, and normal and exceptional damage. Insurance will be effected
from the date the ship leaves the port to its arrival. A declaration form gives
the insurance company information about the shipment so they can prepare
an insurance certificate.
Worldwide Insurance Ltd.
Worldwide House, Vorly Road,
London O 195HD
Mr. J.D. Simpson
Kent, Clarke & Co. Ltd.
South Bank House
London SE 16AA

Date: 19 May, 199

159

Dear Mr. Simpson,


Thank you for your letter of 15 May, in which you ask about a cover for a
shipment of computers from Tilbury to Wellington.
I note from the details attached to your letter that the net amount of the
invoice is 22,000, and payment is by letter of credit. I would therefore
suggest a valued policy against all risks for which we can quote 4,39 p %.
We will issue a cover note as soon as you complete and return the enclosed
declaration form.
Yours sincerely,
D. Adair
Manager

VOCABULARY
bulky
non-perishable
unit-value
shipwreck
jettison
barratry
at-sea risks
to take out
to ensure
to insure
to assure
hull
hull insurance
to run aground
cargo insurance
voyage policy
time policy
unvalued / floating policy
valued policy
FPA (Free of Particular Average)
WPA (With Particular Average)
AAR (Against All Risks)
general average
to apportion

= voluminos, mare
= neperisabil
= valoare unitar
= naufragiu
= aruncarea mrfurilor peste bord
= baraterie (nav.), ican, intrigi
= riscuri pe mare
= a-i procura (brevet, permis),
a contracta (asigurarea)
= a se asigura c, a garanta
= a asigura (o main)
= a afirma, a certifica, a garanta (succes)
= corpul navei, caren
= asigurare casco
= a eua (nav, negocieri)
= asigurarea ncrcturii
= asigurare de cltorie
= asigurare pe termen
= poli neevaluat sau flotant
= poli ad valorem (cu evaluare)
= liber de avarie particular
= cu avarie particular
= mpotriva tuturor riscurilor
= avarie comun
= a grupa, a repartiza, a atribui
160

all-in / all-inclusive
premium
loss
indemnity
annuity
warranty of insurance

= toate adaosurile incluse


= prim de asigurare
= pierdere
= compensaie, despgubire
= anuitate, rent viager
= condiie restrictiv de asigurare

DISCCUSIO%
I. Enlarge on:
a) Marine insurance as an efficient means of shipping goods.
b) Types of marine insurance policies.
c) Types of risks and protection.
d) Claims in marine insurance.
II. Give synonyms of the following:
to insure; shipment; insurer; insurant; insured; damage; claim; to run
aground; to compensate; branch; procedure; indemnity.
III. Fill in the blanks with an appropriate word in the box below:
between; brokers; assume; packing; risk; concerned; coverage; interest;
factors; name; document; insured; contract; insurers; country; premium.
Marine insurance is with insuring ships, cargoes, passengers, etc. A marine
insurance policy is a that describes a contract the insurers and the
individual(s), or firm(s) seeking insurance The policy states the of the
insured, the subject matter, the risk, the voyage or time, the sum , and the
insurers names.
Insurance acting as intermediates between those seeking insurance and
the , negociate the terms of the Understandably, of primary to the
insurer is the amount of risk he must to provide the level of protection
sought by the potential insured. Of principal interest to the insured is the
he will have to pay for such coverage. The premium is based on the type of
insurance sought and on the
The risk is determined by considering the following : the nature of the
goods, the kind and the quality of used, the length of the voyage, and the
in which the ship is registered.

161

IV.
a) Read the letter and answer the questions:
Glaston Potteries Ltd.
Clayfield, Burnley BB 10 1RQ
Tel: 031546125
Telex: 8801773
Fax: 031563182
5 March 199
Mr. D. Adair
Worldwide Insurance Ltd.
Worldwide House
Vorley Road
London O 195HD
Dear Mr. Adair,
We have been insuring individual shipment of our chinaware with you for
some time now, and as you have probably noticed we have established a
number of customers in Oorth and South America.
As we will be marking regular shipments, we wondered if you could arrange
open cover for 60,000 against all risks to insure consignments to Oorth
and South American Eastern seaboard ports.
We look forward to hearing from you soon.
Yours sincerely,
E.F. Goodman
Export Department
Questions:
a)
1. Why does Glaston want the policy changed ?
2. Do Glaston ship general merchandise ?
3. What is the destination for Glastons consignment ?
4. Will the policy indemnify against any eventuality, or only in particular cases ?
5. Which words in the letter correspond to the following: particular; set up;
general insurance for a number of shipments; thought ?
b)
1. Write a letter to a client informing him that the insurance cover is nearly used
up, and ask him if he wants to renew the policy.
2. Write a letter in which an Insurance Company rejects a claim or the
grounds that the bill of lading was not clean. Mention that the transaction
could not have been by confirmed letter of credit, as only a clean bill of
lading would be accepted. Also that the exporter is entitled to call in his
own assessor to inspect the damage, and that if there is a dispute, the case
would be settled by arbitration.

162

V. Translate:
Contractul de asigurare
Vnztorul obine pe cheltuiala proprie asigurarea mrfi pe timpul
transportului aa cum s-a convenit n contract i n condiii care s permit
oricrei alte persoane s prezinte direct reclamaia sa asigurtorului. Pune la
dispoziia cumprtorului polia de asigurare sau orice alt prob de
garantare a asigurrii.
Asigurarea trebuie contractat cu un asigurtor sau cu o companie de asigurri
cu o bun reputaie i dac nu exist o nelegere contrar expres, polia de
asigurare trebuie s cuprind o acoperire minim n conformitate cu clauzele
practicate de Institutul Asigurtorilor din Londra (Institute of London
Underwriters) sau a altor clauze similare.
La cerere i n msura n care este posibil s obin, vnztorul va furniza pe
cheltuiala cumprtorului i o asigurare mpotriva riscurilor de rzboi,
greve, dezordine i rebeliune civil.
Asigurarea va acoperi cel puin preul mrfii prevzut n contract, majorat cu
10% i va fi ncheiat n moneda contractului.

163

LIST OF IRREGULAR VERBS


Infinitive

Past
Tense
abide
abode
arise
arose
awake
awoke
be
was
bear
bore
bore
beat
beat
become
became
begin
began
behold
beheld
bend
bent
bet
bet
bind
bound
bite
bit
bleed
bled
blow
blew
break
broke
bring
brought
broadcast broadcast, -ed
build
built
burn
burnt
burst
burst
buy
bought
cast
cast
catch
caught
choose
chose
clothe
clothed sau
clad
come
came
cost
cost
cut
cut
deal
dealt
dig
dug
do
did

Past
Participle
abode
arisen
awoken
been
born
borne
beaten
become
begun
beheld
bent
bet
bound
bitten
bled
blown
broken
brought
broadcast,-ed
built
burnt
burst
bought
cast
caught
chosen
clothed sau
clad
come
cost
cut
dealt
dug
done
164

Translation
a sta, a rmne; a tri, a locui
a se ridica
a trezi, a (se) detepta
a fi
a nate
a purta, a duce, a suporta
abate
a deveni
a ncepe
a zri, a vedea, a privi
a ndoi
a pune prinsoare
alega
a muca
a sngera
a sufla
a sparge
a aduce
a transmite
a cldi
a arde
a face explozie, a exploda, a izbucni
a cumpra
a arunca, a azvrli
a prinde
a alege
a (se) mbrca
a veni
a costa
a tia
a se ocupa, a trata
a spa
a face

Infinitive
draw
dream
drink
drive
eat
fall
feed
feel
fight
find
fly
forbid
forget
forgive
forsake
freeze
get
give
go
grind
grow
hang
have
hear
hide
hit
hold
hurt

Past
Tense
drew
dreamt
drank
drove
ate
fell
fed
felt
fought
found
flew
forbade
forgot
forgave
forsook
froze
got
gave
went
ground
grew
hung
had
heard
hid
hit
held
hurt

Past
Participle
drawn
dreamt
drank
driven
eaten
fallen
fed
felt
fought
found
flown
forbidden
forgotten
forgiven
forsaken
frozen
got
given
gone
ground
grown
hung
had
heard
hidden
hit
held
hurt

keep

kept

kept

knit

knit,-ed

know
lay
lead
lean
learn

knew
laid
led
leant
learnt

knit sau
knitted
known
laid
led
leant
learnt

Translation
a trage; a desena
a visa
a bea
a goni; a conduce (un vehicul)
a mnca
a cdea
a (se) hrni, a da de mncare
a simi
a lupta
a gsi
a zbura
a interzice
a uita
a ierta
a lsa, a prsi
a nghea; a degera
a obine
a da
a merge
a (se) macin; a (se) ascui
a crete
a aga, a atrna
a avea
a auzi
a ascunde
a lovi; a atinge, a nimeri
a ine, a reine, a cuprinde
a vtma, a pricinui durere; a
pgubi; a jigni, a ofensa,
a face ru, a strica, a ine, a
pstra; a observa, a respecta
a mpleti, a tricota, a croeta
a ti, a cunoate
a pune, a aeza
a ndruma, a conduce a (se) rezema
a nva, a afla

165

Infinitive

lose
make
mean
meet
mistake
mow
pay
put
read
ride
ring
rise

Past
Tense
learned
left
let
lay
lit
lighted
lost
made
meant
met
mistook
mowed
paid
put
read
rode
rang
rose

Past
Participle
learned
left
let
lain
lit
lighted
lost
made
meant
met
mistaken
mown
paid
put
read
ridden
rung
risen

run
saw
say
see
seek
sell
send
set
sew

ran
sawed
said
saw
sought
sold
sent
set
sewed

shake
shave
shine'
shoot
show
shrink

shook
shaved
shone
shot
showed
shrank

run
sawn
said
seen
sought
sold
sent
set
sewn
sewed
shaken
shaven
shone
shot
shown
shrunk

shut
sing

shut
sang

shut
sung

leave
let
lie
light

Translation

a lsa, a prsi; a pleca


a permite
a fi culcat, a fi ntins; a zcea
a (se) aprinde
a pierde
a face
a nsemna
a ntlni
a nelege greit; a confunda
a cosi, a secera
a plti
a pune
a citi
a clri
a suna
a se ridica, a se scula (n
picioare), a se nla
a alerga
a tia cu ferstrul
a spune, a zice
a vedea
a cuta
a vinde
a trimite
a aeza, apune; a regla, a fixa
a coase
a cltina, a scutura
a se brbieri
a strluci, a sclipi
a trage; a inti; a mpuca
a arta
a se contracta, a se strmta,
a se strnge
a nchide
a cnta

166

Infinitive
sit
sleep
slide
smell
sow
speak
spell
spend
spill
spin
split
spoil

sat
slept
slid
smelt
sowed
spoke
spelt
spent
spilt
span
split
spoilt

Past
Participle
sat
slept
slid
smelt
sown
spoken
spelt
spent
spilt
spun
split
spoilt

spread
spring
stand
steal
stick
strike
swear
sweep
swell
swim
take
teach
tear
tell
think
throw
understand
undo
undertake
upset
wake

spread
sprang
stood
stole
stuck
struck
swore
swept
swelled
swam
took
taught
tore
told
thought
threw
understood
undid
undertook
upset
woke
waked
wore
wove
wept

spread
sprung
stood
stolen
stuck
struck
sworn
swept
swollen
swum
taken
taught
tom
told
thought
thrown
understood
undone
undertaken
upset
woken
waked
worn
woven
wept

wear
weave
weep

Past
Tense

167

Translation
a se aeza, a lua loc, a sta jos
a dormi
a aluneca
a mirosi, a avea miros
a semna
a vorbi
a silabisi
a cheltui
a (se) vrsa
a fila, a toarce
a despica, a crpa
a prda, a jefui, a despuia, a
pgubi, a ruina, a strica
a ntinde; a mprtia
a sri
a sta n picioare
a fura
a nfige; a lipi
a izbi; a ciocni; a lovi; a bate
a jura
a mtura
a umfla
a nota
a lua
a preda, a nva pe cineva
a rupe, a sfia
a spune a povesti
a gndi
a arunca
a nelege
a anula, a desfiina
a lua asupra sa
a rsturna, a dezorganiza
a se detepta
a purta
a ese
a plnge

PUNCTUATION MARKS
Punctuation makes writing understandable and easier to read. The
English main punctuation marks are:
(.) The Full Stop (UK) / Period (US) is used:
- to mark the end of a sentence that is not a direct question and
does not express a strong feeling:
I'll meet you outside the cinema. Be there by half past eight.
- to mark shortened words and in people's titles:
e.g. (for example), no. (number), Feb. 17th, Mr. James, Mrs. Drew,
Ms. Talbot, Dr. Grey
- as one way to separate the numbers in dates and times:
13.7.84 (UK) or 7.13.84 (US) - 13th July 1984
8.30pm or 20.30 - half past eight in the evening
- as the decimal point in figures and amounts of money (this is
usually read out as "point"):
6.25 metres - "six point two five"
3.5 million - "three point five million pounds" BUT 3.50 "three pounds fifty"
ote! A point is not used to separate large numbers or telephone numbers:
The city has a population of 4,500,000.
Please telephone (0171) 565 6821.
- in e-mail and web addresses (this is read out as "dot"):
www.cup.cam.ac.uk = "w-w-w dot c-u-p dot cam dot a-c dot u-k"
cide@cup.cam.ac.uk = "cide at c-u-p dot cam dot a-c dot u-k"
(,) The Comma is used:
- in lists:
She's a kind, well-meaning person.
Can we have two Cokes, three glasses of water and an apple juice?
Crack the eggs into a bowl, beat them until smooth, add them to the
mixture, then pour it into the cake tin.
ote! A comma can be omitted between adjectives that give similar
information or information of equal importance: a tall dark handsome man.
- to give extra information:
She is, as far as I know, a qualified teacher.
I think, but I could be wrong, that it starts at 8.30.
Trams, unlike other forms of transport, do not cause pollution.
- to separate a word or phrase from a complete sentence:
Well, I'd better be going now.
168

Damn, I've broken it.


He didn't leave his address, unfortunately.
To be honest, I don't really feel like going out.
- to separate two clauses:
He has been convicted of theft, although he continues to deny it.
After he got married, he changed completely.
The earlier we leave, the sooner we'll arrive.
If you come to Cambridge, be sure to visit me.
- before certain conjunctions:
He hadn't worked very hard, but still did well in his exams.
They set up the business in 1985, and had made their first million by 1990.
We missed the start of the film, so we went to the pub instead.
- before or after direct speech:
"I'll call you later," she said.
He called out to her, "Carla!"
"Well," he replied, "that's a difficult question to answer."
She turned towards me and asked, "When are you leaving?"
- in tag questions:
They live in Liverpool, don't they?
Write often, won't you?
- in dates and numbers over 1,000:
October, 1999 (can be omitted)
10,000,000
$1,600
ote! A comma is not used for decimals: 10.5
(;) The Semi-Colon is used:
- to join two parts of a sentence which could be two separate
sentences, but which one could prefer to keep together (a comma should
not be used in this way): Rachael's eyes began to close; Dan too was feeling
tired. Francis Bacon, a truly great painter, is well known; his paintings have
great insight and feeling.
- instead of a comma to divide parts of sentences, especially lists,
that already have commas in them:
Her first three books are about politics, power and male attitudes;
American women in the 60s; and women in education.
(:) The Colon is used:
- to introduce quotes:
The commanding officer said: Boys, half of you probably arent
going to make it.
169

- to introduce a list (often after for example, namely, i.e., as follows):


She had three brothers: Joe, Steve and Tony.
If there is a fire, do the following: ring the alarm, close all windows
and leave the building.
(?) The Question Mark is used:
- to end a sentence which is a question:
Why has the cinema become so conflicting?
(!) The Exclamation Mark is used:
- at the end of a sentence expressing strong feelings, and with
exclamations and interjections:
"This song's great!"
"She's a professor and she's only 24!"
"Damn!"
"Hi!"
- to show that a speaker is shouting, or that a noise is loud:
Dave, where are you? Dave!"
Crash! The pile of plates had fallen to the floor.
- at the end of a forceful order:
"Don't open that parcel, it might be a bomb!" BUT "Open your book
at page 102."
(-) The Dash is used:
- to mark a parenthesis:
Foreign executives worry that being foreign once considered a
shield against Mafia hits may now be a liability.
- to mark a break in thought:
I admit but whats the use of admitting?
() The Apostrophe is used:
- to show that letters or numbers are missing:
They're (They are) waiting outside.
Please don't (do not) bother.
I graduated in '88 (1988).
- to show possession:
the girl's toy, the children's bedroom
( ) The Quotation Marks are used:
- for titles of books, plays, newspapers, magazines:
Her favourite novel is The Remains of the Day by Kazuo Ishiguro.

170

- in direct speech:
He told us: "Stop walking when you reach the traffic lights, and you'll
see the park on your left."
( ( ) ) The Round Brackets are used:
- to explain rather than comment what goes beyond them:
In 1996, Clinton found the thematic centrist, high ground (the era of
Big Government is over) that won him re-election.
- to enclose figures or letters when used for enumeration:
Three kinds of support are needed: (1) moral, (2) economic and (3)
political.
( [ ] ) The Square Brackets are used:
- to mark the writers or editors explanation or comment:
Toms spelling and grammar [sic] is inaccurate.
- to set off interpolations in quoted sentences and to replace
parenthesis within parenthesis:
Shortly before D Day, she [Bertha] left for the last time (see The
Last Shot [London: Faber and Faber, 1991].)
( / ) The Slash is used:
- to show that either term is applicable:
Moral / economic support is needed.
- to make line divisions of quoted poetry:
Today the vision of the checkless / cashless society are not quite as
popular as they used to be. Kathryn H. Humes
( ) The Ellipsis Points (Dots) are used:
- to mark omission:
Life for the Dakota people is going in a downward direction To
control it would take a great human power or magic.

171

BRITISH AND AMERICAN


WEIGHTS AND MEASURES
Units of length
12 inches =
3 feet
51/2 yards

1 inch =
1 foot
1 yard =
1 rod, pole or perch =

2.54 cm
0.3048 m
0.9144 m
5.029 m

= 22 yards

1 chain =

20.12 m

10 chains =
8 furlongs =
6076.12 feet =

1 furlong =
1 mile
1 nautical mile =

0.2012 km
1.609 km
1852 m

1 grain
1 dram
= 1 ounce
= 1 pound
= 1 stone
= 1 quarter
= 1 (long) hundredweight

= 64.8 mg
= 1.772g
= 28.35 g
= 0.4536 kg
= 6.350 kg
= 12.70 kg

Units of weight
16 drams
16 ounces
14 pounds
2 stones
4 quarters

20 hundredweight = 1 (long) ton


100 pounds
= 1 (short)
hundredweight
2000 pounds

= 1 (short) ton

= 50.80 kg
= 1.016 tonnes
= 45.36 kg
= 0.9072 tonnes

The short hundredweight and ton are more common in the US

172

MODEL OF TESTS
TEST O. 1
I. Enlarge on:
The Card-a modern instrument of payment.
The Inquiry(definition,types).
II. Make up sentences using: to grant a discount, to give the right,
deadline, delay, to settle.
III. Translate the following complaint letter:
Stimai domni,
Trebuie s v informm c am primit de curnd de la clienii notri unele
reclamaii privind calitatea inferioar a unor aspiratoare livrate de
dumneavoastr acum cteva luni.
V trimitem n plic separate o list cu numrul de identificare a motoarelor
care prezint cele mai frecvente defecte.
Aceast scrisoare nu trebuie considerat drept o critic adus produselor
dumneavoastr, ci doar o ncercare de a le face mai bune.
Al dumneavoastr sincer,
IV. Make up a reply to the above complaint letter.
TEST O. 2
I. Answer the following questions:
a). What is an order ?
b). What methods and instruments of payment can you mention ?
II. Make up an offer of knitwear, stressing the wide choice of styles available
and the care taken to meet the requirements of different markets.
III. Translate into English:
Trata este denumirea istoric a cambiei n care sunt implicai trei
participani: trgtorul, trasul i beneficiarul. Trgtorul este cel care oblig,
d un ordin s se plteasc, iar trasul este obligat prin ordin, s
plteasc.Autoritatea trgtorului de a da ordin se ntemeiaz pe transferal
anticipat de valori aflate n posesia trasului.
Ordinul de a plti o sum determinat este necondiionat, aceasta fiind una
dintre caracteristicile tratei. Acest ordin nu poate fi afectat nici prin
suspendarea i nici prin anularea obligaiei. Suma prevzut n cambia
trebuie s fie nscris n cifre i litere.

173

TEST O. 3
I. Fill in the missing words in the passages below. Choose from the
following. The first has been done for you.
forms

employment

pay

personnel functions

promotion

holiday

references

round holes

square pegs

chosen

Applicants

Advertisements

short list

interview

Making appointments is one of the main (1) personnel functions. (2)


_________ are placed in newspapers and in trade journals. (3) _________
who reply to these, or who are found in other ways, are sent application (4)
__________. From these the best candidates are (5) _________ and a (6)
__________ si drawn up. The employers try to avoid fitting (7) __________
into (8) __________________. The short-listed applicants are called for an
(9) _____________. During this, the (10) __________ package is explained;
this includes the annual (11) ___________ entitlement, the rates of (12)
__________, and the opportunities for (13) _________. When the
successful candidate is decided on, there is one last step: (14) _______ are
itaken up before the appointment is finally confirmed.
II. Make up sentences using the following expressions: to apply for a job;
your experience and background; professionalism; factual details; properly
spelt; to hunt for a job.
III. Enlarge on:
The details to be provided in the Curriculum Vitae
IV. Translate into English:
Stimate Domnule X,
Am primit scrisoarea dvs. care exprim interesul dvs. de a lucra n
ntreprinderea noastr.
Dei avem puine posturi libere n present, anexm acum un formular de
cerere pe care v rugm s-l completai. Dup ce vom primi cererea dvs.,
completat n timp util, v vom contacta din nou dac vom avea vreun post
corespunztor.
Am revzut CV-ul anexat cu toat atenia i urmeaz s v telefonm pentru
a programa o ntrevedere cu dvs.
Cu stim,

174

TEST O. 4
I. Choose from the words in the box to complete the passage. The first
has been done for you.
cargo

forwarding

shipping

documents

Excise

manifest

services

destination

cleared

consignments

The (1) cargo carried by a ship is listed in the (2) __________, which is a list
of the bills of lading covering all the (3) __________ on the vessel for that
voyage. It is just one of the (4) _______ that are involved in the shipping of
goods; the insurance policy and commercial invoice are among the others. The
Customs and (5) _________ authorities will examine all these.
Clearing and (6) agents are often used to handle the transportation of goods.
They will arrange for the loading and unloading of the goods and arrange all
the dock (7) ________ that are needed.
The (8) _________ marks, which are stenciled on the cases, provide an easy way
of identifying the items in a consignment when they are unloaded. The marks are
described in the manifest, which is again inspected when the goods are (9)
_________ through Customs on reaching their (10) _________.
II. Give synonyms for the following words: shipment; port of discharge;
consignment; consignor; consignee; forwarding agent.
III. Enlarge on:
a) The main functions of a bill of lading;
b) Types of bills of lading.
IV. Translate into English
Orice disput ce se va ivi n baza conosamentului se va decide n ara n care
cruul i are locul principal de afaceri i se va aplica legea acelei ri dac
nu s-a convenit altfel n prezentul conosament.
Deoarece vasul este angajat n serviciul de liner, cltoria prevzut
(intended voyage) nu se va limita la ruta direct, dar se va considera c va
include orice continuare a cltoriei (proceeding), ntoarcere la, sau oprire,
sau ncetinire la sau departe de orice port pentru orice motiv legat de
serviciile de ntreinere ale vasului i echipajului.

175

TEST O. 5
I. Enlarge on:
1. Comment upon the following statement: Making a profit today depends
on a successful pricing strategy.
2. What techniques does advertising use in order to persuade consumers?
3. Define accounting and bookkeeping.
II. Insert the following words in the text below:
countries; investment; debate; offered; growth; regulation
The Role of Government
The various economic problems of recent years have stimulated serious
about the proper role of public policy. In the 1980s a different solution was
by the Conservative Party government of Prime Minister Margaret
Thatcher in the United Kingdom and by the Republican administration of
President Ronald Reagan in the U.S. In both , attempts were made to
diminish taxation and government on private enterprise and thus, by
enlarging the potential profits of corporations, encourage additional ,
higher productivity, and renewed economic . These were the central
elements of supply-side economics, the guiding doctrine of the two leaders.
III. Provide the most appropriate synonyms for the following words:
tarrif; to import; to establish; according to; fair; variables; to describe; output
IV. Translate into English:
1. Romania a parcurs in ultimul deceniu al secolului al XX-lea cea mai
profunda si cea mai indelungata criza din istoria sa moderna.
2. Angrosistii indeplinesc adesea si functii de agenti in ceea ce priveste
desfacerea marfurilor straine pe piata proprie.
3. Mixul promotional reprezinta alegerea si combinarea corespunzatoare a
mijloacelor si tehnicilor promotionale.

176

TEST O. 6
I. Enlarge on:
1. Comment upon the following statement: Business cycles have a
significant influence on all aspects of an economy.
2. What specific effects does inflation generate? What about deflation?
3. What is the main function of international trade?
II. Insert the following words in the text below:
packages; management; ensure; employees; HRM; recruiting
Human Resource Management
Businesses rely on effective human resource management (HRM) to that
they hire and keep good , and that they are able to respond to conflicts
between workers and . HRM specialists initially determine the number
and type of employees that a business will need over its first few years of
operation. They are then responsible for new employees to replace those
who leave and for filling newly created positions. A businesss division
also trains or arranges for the training of its staff to encourage worker
productivity, efficiency, and satisfaction, and to promote the overall success
of the business. Finally, human resource managers create workers
compensation plans and benefit for employees.
III. Provide the most appropriate antonyms for the following words:
to promote; to enable; available; inflation; prolonged; dynamic; employment
IV. Translate into English:
1. Distributia prin detailisti prezinta o serie de avantaje: relatii directe intre
producatori si consumatori, primii sesizand operativ schimbarile care au loc
in domeniul cererii.
2. Functiile brokerului se considera indeplinite atunci cand ca urmare a
masurilor luate de el, importatorul si exportatorul stabilesc intre ei contracte.
3. Activitatea de public-relations are o sfera de cuprindere mai larga decat
publicitatea comerciala.

177

BIBLIOGRAPHY
1.

Bannock G. & others

2.

Bantas Andrei,
Nastasescu Violeta
Bantas Andrei,
Ciubuc, Rodica

3.

4.

Basno Cezar,
Nicolae Dardac

5.

Bdescu Alice

6.

Brookes Michael,
Horner David
Brookes Michael
Francois Lagoutte
Caraiani Gheorghe

7.
8.

9.

10.
11.
12.
13.

14.

Chiriacescu Adriana,
Murean Laura,
Barghiel Virginia,
Hollinger Alexander
Ciuciuc Olea,
Tanasescu Eugenia
Ciuciuc Olea,
Tnsescu Eugenia
Constantinescu Ileana,
Crocus Angela
Dayan A.,
Lindsay W.H.,
Janakicwicz A.,
Marcheteau M.
Demazet Bertrand,
Labrousse Pierre,
Ouellet Raymond

The Penguin Dictionary of Economics,


second edition, Great Britain, 1979
Dictionar economic englez-roman,
Ed. Niculescu, Bucuresti, 1999.
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