Documente Academic
Documente Profesional
Documente Cultură
LIMBA ENGLEZ
APLICAT N
DOMENIUL
AFACERILOR
ANUL II semestrele
1i 2
SPECIALIZAREA
TITULAR DE DISCIPLINA
Contabilitate i Informatic
de Gestiune
TUTORE
Asist. univ. Bir Enik
eniko.biro@lingua.ubbcluj.ro
sergiu.zagan@lingua.ubbcluj.ro
Economie i Afaceri
Internaionale
Finane i Bnci
veronica.armasu@lingua.ubbcluj.ro
Economia Comerului,
Turismului i Serviciilor
Marketing
diana.zelter@lingua.ubbcluj.ro
Informatic Economic
zoica.ghitan@lingua.ubbcluj.ro
veronica.armasu@lingua.ubbcluj.ro
zoica.ghitan@lingua.ubbcluj.ro
sergiu.zagan@lingua.ubbcluj.ro
Management
reka.kovacs@lingua.ubbcluj.ro
Dr. Gz Roxana
roxanagz@yahoo.fr
Dr. Pop Andreea Nora
andreea_nora_@yahoo.com
diana.sopon@lingua.ubbcluj.ro
Calendar al cursului
S
tema
pt
n
a
1
Marketing
2
Finance and Accounting
3
Import - Export
4
Starting a Business/The Business Plan
5
Bank, Stocks and Shares
6
Insurance
7
Corporate Alliances and Acquisitions
termen
predare
noiembrie
decembrie
martie
mai
CONTENTS
Module 1
Module 2
Module 3
Module 4
Module 5
Module 6
Module 7
MARKETING
FINANCE AND ACCOUNTING
IMPORT - EXPORT
STARTING A BUSINESS/THE BUSINESS PLAN
BANKS, STOCKS AND SHARES
INSURANCE
CORPORATE ALLIANCES AND ACQUISITIONS
6
19
31
40
46
57
62
MODULE 1
MARKETING
Basic Concepts:
Marketing, the marketing mix, product, promotion, advertising
General objectives :
a. to improve students command of English
b. to help students develop and practice basic skills to enable them to operate
effectively in real life situations
c. to increase students knowledge of business terms
Specific objectives:
a. to provide information and explanations about notions related to
marketing;
b. to improve vocabulary related to the field of marketing
c. to revise grammar knowledge about conditionals
Recommendations:
a.
read the texts carefully and try to address the corresponding tasks
b.
c.
d.
Expected results:
a. improve students command of English
b. build up speaking and writing skills
c. practice writing for specific purposes
d. encourage the independent study and self-instruction
GROUP DISCUSSION:
Choose one of the definitions above and explain why you consider it the most suitable for
the field of marketing.
The 'marketing mix' is probably the most famous phrase in marketing. The elements are
the marketing 'tactics'. Also known as the 'four Ps', the marketing mix elements are
price, place, product, and promotion.
Some commentators will increase the mix to the 'five Ps', to include people. Others will
increase the mix to 'Seven Ps', to include physical evidence (such as uniforms, facilities,
or livery) and process (i.e. the whole customer experience e.g. a visit to the Disney
World). The term was coined by Neil H. Borden in his article 'The Concept of the
Marketing Mix' in 1965.
The concept is simple. Think about another common mix - a cake mix. All cakes contain
eggs, milk, flour, and sugar. However, you can alter the final cake by altering the
amounts of mix elements contained in it. So for a sweet cake add more sugar! It is the
same with the marketing mix. The offer you make to you customer can be altered by
varying the mix elements. So for a high profile brand increase the focus on promotion
and desensitize the weight given to price.
Promotion
Another one of the 4P's is 'promotion'. This includes all of the tools available to the
marketer for 'marketing communication'. As with Neil H. Bordens marketing mix,
marketing communications has its own 'promotions mix.' Think of it like a cake mix, the
basic ingredients are always the same. However, if you vary the amounts of one of the
ingredients, the final outcome is different. It is the same with promotions. You can
'integrate' different aspects of the promotions mix to deliver a unique campaign. The
elements of the promotions mix are:
1. Personal Selling
2. Sales Promotion
6. Advertising
3. Public Relations
7. Sponsorship
4. Direct Mail
7
The elements of the promotions mix are integrated to form a coherent campaign. As with
all forms of communication, the message from the marketer follows the 'communications
process' as illustrated above. For example, a radio advert is made for a car manufacturer.
The car manufacturer (sender) pays for a specific advert which contains a message
specific to a target audience (encoding). It is transmitted during a set of commercials
from a radio station (Message / media). The message is decoded by a car radio (decoding)
and the target consumer interprets the message (receiver). He or she might visit a
dealership or seek further information from a web site (Response). The consumer might
buy a car or express an interest or dislike (feedback). This information will inform future
elements of an integrated promotional campaign. Perhaps a direct mail campaign would
push the consumer to the point of purchase. Noise represents the thousand of marketing
communications that a consumer is exposed to everyday, all competing for attention.
GROUP DISCUSSION:
Which element of the promotions mix do you consider as being the most important?
Justify your answer.
VOCABULARY PRACTICE
For each definition choose the correct word or phrase (ex. 1-c):
1. Providing money to cultural or sporting activities in exchange for advertising rights
a) promotion b) grant aid c) sponsorship
2. A business which specializes in giving advice and support to companies about
marketing and markets
a) marketing consultancy b) counselling service c) company analysts
3. An economy which allows open and reasonably free exchange between private
companies
a) command economy b) conservative economy c) free market economy
4. A market in which there are too many suppliers producing similar products
a) saturated market b) buyers market c) heavy market
5. A market in which there are few suppliers producing goods that a lot of people want to
buy
a) weak market b) sellers market c) light market
6. A person who uses their specialist knowledge of a specific market to try to explain
what has happened and predict what will happen
a) market analyst b) forecaster c) market broker
7. A specific promotional activity over a limited period of time
a) campaign b) season c) trend
8. The activity of moving goods from the producer to the consumer
a) selling b) distribution c) orientation
But all the fancy graphics and the most beautifully created sentences in the world won't do you a bit of good
if you don't carefully select the people on your mailing list. If you're selling adult diapers, you want to target
senior citizens...not 23-year-olds.
Tighten your mailing list as much as possible to be sure it's tailored to your needs. It's tough to make people
believe they need your product and even harder to convince them they need it now. But if you've researched
your list, you have a higher chance of hitting potential customers instead of the trash can.
You've made your list and checked it twice, so-to-speak. It's the perfect list. Now it's time to write. Define
your objectives before you start writing. Stay focused and hit the points of your objective. If you get off
track, your reader is going to stop reading.
Spend a lot of time on your headline. Just remember how you feel when reading mail that comes to you.
After you read that headline, do you keep reading? The headline can make or break your direct mail
campaign.
Does price really matter? Not unless you know what you're getting for that price. Hook your reader with all
of the product benefits. By the time they get to the end, they should be saying, "I can't live without that!"
And then you let them in on the price. Even if the price is extremely low, you have to tell potential
customers about the product first.
Disclosing this price shouldn't put people into shock. Is your product priced according to the market? If
you're selling a new teddy bear, it should be priced within reason. Not many people will pay $90 for a tiny
teddy bear, right? Truth is, a lot of direct mail goes unanswered because the products are unreasonably
priced.
Success! Your potential customer read all the way through your mailing. Now what?
Did you tell the reader what you want them to do? You can't sell if you don't tell.
Your readers need a call to action. Tell them to send in the card, call you, etc. Then tell them again.
Once your direct mail is ready to go, test several smaller mailings before sending out a huge chunk. Test
each of these mailings by changing a few items when you send them out.
Have two or more sales letters you test against each other. By testing, you will find out which of those
mailings are bringing in more responses and - hopefully - more orders.
Stick with the clear winners. Remember the saying, "If it ain't broke, don't fix it."
Direct mail is a waste of money for a lot of people. But it doesn't have to be for you. Understanding direct
mail deadly mistakes -- and avoiding them -- will lead you to sales success!
4. Read the following example of a direct mail and try to define the basic features of such a letter:
LONG DISTANCE
September 8, 200x
Julie Smythe
President
Alternative Retailing 777 Easy Way Los Angeles, CA
YOU CAN CUT YOUR COMPANY'S LONG DISTANCE
PHONE EXPENSES BY 30%!
Dear Ms. Smythe:
It's true! Island Long Distance saves direct mail retailers just like you as much as 30% off
their monthly long distance phone bills.
We offer the same fiber optic telephone lines that your current service now offers, except we
charge a lot less for our high quality service. And, with Island Long Distance, you never have
to worry about lost sales due to a power or systems failure. In the event of an emergency, our
computer will automatically reroute the calls from your 800 system to another location of
your choosing.
Maybe you're wondering why you've never heard of us. That's because unlike AT&T and
MCI, we don't spend millions of dollars on expensive advertising campaigns. We choose to
pass this savings on to you. In fact, most of our new business is generated the old fashioned
way: our customers recommend us to their colleagues.
But that's not all. Island Long Distance offers:
Guaranteed rates for two years. AT&T, MCI, and Sprint raise their rates 20% every
four months (those clever television commercials sure cost a lot of money). We don't,
and we'll put it in writing.
Guaranteed satisfaction. If after using our long distance for 90 days you're not
completely satisfied for any reason, we'll switch you back to your old service free.
But please don't just take Island's word on it. Here's what some of customers think about us:
"Island Long Distance has cut our long distance phone bills by 30%!"
Ellen Walker, President, Peacock Fashions
"I'll never forget the hurricane that downed our phone lines for one week. And I'll never
forget how quickly Island Long Distance rerouted our calls to our New York branch. They
saved us during our busiest sales season!"
Alan Fisher, Sales Director, Candy-By-Mail
I've enclosed a brochure that further details our state-of-the-art rerouting system and delayed
payment options. Please be advised the free month of long distance is available only to
new customers who sign with us by July 1. You must act quickly to take advantage of this
exceptional savings opportunity.
I'd like to meet with you to discuss how Island Long Distance can immediately begin saving
you up to 30% on your monthly long distance expense. I'll be contacting you next week to
schedule an appointment. I look forward to meeting with you soon.
Sincerely,
Samuel Johnson
President
P.S. Don't forget, you must sign with Island Long Distance by July 1, 200x for your free
month of long distance service!
GRAMMAR
Conditionals
First, Second and Third Conditionals
There are three main types of conditionals sentences.
a.
If
see
Andrew
at
the
meeting,
Present Simple
b.
If
give
him
your
message.
Future Simple
parents
were
alive,
Past Simple
c.
Ill
they
would
be
very
proud
of
me
now.
would + Inf.
If she had worked harder, she would have passed the exams.
Exercises
I. The following sentences are first, second or third conditional. Put the verbs in brackets
into the appropriate form:
1. We wanted to go out yesterday but the weather was terrible. If it (be) a nice day, we
(go) for a picnic.
2. Why dont you explain everything to him? If you (not tell) him the truth, Im sure you
(regret) it one day.
3. Jennifer was here not long ago. If you (come round) earlier, you (see) her.
4. Apparently, the ferry company are planning to close the port in this town. If that
(happen), the town (lose) a great deal of money.
5. I (help) you with it if I (have) more time, but Im afraid I havent got any spare time at
all at the moment.
6. The government is expecting to win the next election, but if it (lose), the Prime
Minister (resign) from politics.
7. I am so glad that you took me to your friends party. If we (not go) there, I (never
meet) Adrian.
1
8. Its ridiculous that trains are so expensive. If fares (be) cheaper, Im sure more people
(use) the train and leave their cars at home.
9. If she (get) that job she applied for, she (be) delighted. And I think shes got a good
chance of getting it.
10. Fortunately the explosion took place at night when the streets were empty. It (be) a
disaster if it (happen) in the middle of the day.
11. The talks between the two leaders keep breaking down. If they (break down) again, it
is possible that there (be) a war between the two countries.
12. If Alison (know) anything about car mechanics, Im sure she (help) us fix the car, but
I think she knows even less than we do.
13. Theyve been married for twenty years now but I dont think she (marry) him if she
(know) what a selfish man he was.
14. Children spend too much time watching television and playing computer games. Im
sure they (be) happier if they (spend) more time playing outside.
15. Jamie has everything he wants but hes always moaning. Im sure that if I (have) so
much money, I (not moan) all the time.
II. Put the verbs in brackets into the appropriate form:
1. Oh dear, I think were a bit late. If the concerts already started, we (not be allowed) to
go in.
2. He wouldnt be coming here if he (not want) to.
3. If you were planning to leave your husband, I (advise) you against it.
4. He could be earning lots of money now if he really (want) to, but I dont think thats
what he wants.
5. You can stay here tonight if you (not have) anywhere else to stay.
6. If I could have phoned you, I (tell) you what was happening.
7. If you (have) any problems, give me a ring.
8. If you (get) here at about 8 oclock, Ill be waiting for you
9. We could have got there in time if you (phone) us earlier.
10. If this should happen again, (come) and (tell) me about it immediately.
11. You cant expect kindness and support from your family if you (not give) the same to
them.
12. If shes been working all day, she (be) very tired when she gets in.
13. If the management were to reinstate the strike leader, the strike (be called off).
14. If I (keep) working on this essay, Ill have finished it by tonight.
15. If I could borrow some money, I (definitely come) on the holiday with you, but I
think its unlikely.
16. I might have been able to help you if you (explain) the problem to me.
17. If I could live wherever I wanted to, I think I (choose) to live on a Scottish island.
18. If they had been listening more carefully, they (might understand) what I was saying.
19. If I (be) a year older, I could join the army.
20. If I (get) a pay rise, Im going to buy a new car.
Bibliography
1. Cambridge Business English Dictionary (2011), Cambridge University
Press
2. Cullen, V. & Lehniger, D. (2000) B for Business. Mnchen: Max
Hueber Verlag
3. Dubicka, I. & OKeeffe, M. (2011) Market Leader Advanced (3rd
edition). Edinburgh: Pearson Longman
4. Hollinger, A. (2009) Test Your Business English Vocabulary. Bucureti:
Editura Universitar
5. Mascull, B. (2010), Business Vocabulary in Use Advanced. Cambridge
University Press
6. Swan, M., Baker D. (2012), Grammar Scan. Diagnostic Tests for
Practical English Usage, OUP
MODULE II
FINANCE AND ACCOUNTING
Basic Concepts:
Accounting, accountant, assets, liabilities, auditing, balance sheet, invoice
General objectives:
a. improve students command of English
b. help students develop and practice basic skills to enable them to operate
effectively in real life situations
c. increase students knowledge of business terms
Specific objectives
a. to provide information and explanations about notions related to
accounting;
b. to improve vocabulary related to the field of finance and accounting
c. to revise grammar knowledge about indirect speech
Recommendations:
a. read the texts carefully and try to address the corresponding tasks
b. use the dictionary to improve your vocabulary
c. focus on content and on language use
d. improve your control of grammar and build your vocabulary by
practicing different types of exercises
Expected results:
a. improve students command of English
b. build up speaking and writing skills
c. practice writing for specific purposes
d. encourage the independent study and self-instruction
READING
Read the article about Company Formation. Choose the best sentences from the list
below (A-H) to fill each gap (1-5). There is one sentence that you do not need. There is
an example at the beginning (0-D)
A. The big advantage of forming a public limited company is that advertisements may be
paced in financial newspaper inviting the public to apply for shares: a prospectus, as this
advertisement is called, gives details of the companys past trading record and estimates
of future earnings, together with other information required by law.
B. On the other hand, bookkeepers are responsible for obtaining the financial data that the
accounting system processes. An accounting system cannot operate without good,
accurate bookkeeping, but a bookkeeper can generally be trained in a year or two.
C. As a consequence, owners in a corporation have limited liability. With limited
liability, the owners are responsible for the debts of the business only to the extent of the
amount they have invested.
D. Perhaps you want to become a part-owner of a corporation by buying shares on it. You
may want to invest in a partnership by becoming a sleeping partner or you may want to
look into franchise.
E. Most probably you will have to employ a skilled person to keep the exact records of
your business and possibly to give you some professional advice as well.
F. There are more sole proprietorships than any other types of business in the United
States economic system, but it is the giant corporation, especially the multinational one,
that has become to many the symbol of the private American enterprise system.
G. Their personal savings and possessions cannot be taken to pay the corporations debts.
H. Usually, all the partners have personal unlimited liability for debts to creditors. A
partner who invests money in a partnership but who does not run the business is called a
sleeping partner.
Company Formation
A person starting a new business must decide which type of organization is best. To some
extent the answer depends on the person, the type of business, the money needed, and the
kind of product or service to be provided. If you are going in a restaurant business, you
may decide on a sole proprietorship or a partnership. (0-D)
(1)
The money needed to start a business is called capital. If you do not have enough capital
you may borrow some from the bank in the form of a loan or an overdraft. Before the
bank will give a loan you must put up some security (such as your own house) in case
you cannot pay back the money.
If the business owned by yourself (sole proprietor) runs into trouble, you are liable to pay
all the debts to your creditor, even if you have to sell your private possessions. A sole
proprietor is personally liable to his/her creditors.
Sometimes two or more people own and run a business. This is called a partnership.
People who invest money in a business are called investors or backers. The backers in a
partnership are all partners and owners. (2) Sometimes a sleeping partner can
have limited liability; his/her liability is limited to the amount of money he/she invests.
A company or a corporation is a business that is legally regarded as a separate entity, as
something that exists independently. That means that, as far as law is concerned, the
corporation has a separate existence from the people who own it. It has a life of its own.
(3) Even if the business fails, the owners cannot lose more than they have
invested. (4) Limited liability companies are economically very efficient.
Although only about 6 percent of all businesses in the United States are corporations they
earn about 79 percent of the countrys income.
Investment in a limited company is in the form of shares. Everyone who buys shares in
the company is a shareholder. The liability of each share is limited to the amount of ones
investment. If you have shares in a company, you have stake or holding in the company.
If you hold 20% of the shares, you have a 20% stakes. If a shareholder has more than
50% holding, that person is a majority shareholder and has a majority or controlling
interest in the company.
A public limited company is normally the largest form of business unit in the private
sector; its shares are often quoted on the stock exchange. Most present day public
companies were once private, having at one stage gone public with the help of a bank.
(5)
One of the main reasons for small business failure is not managerial incompetence, but
inadequate financial planning. Therefore, in order to ensure your success you have to
learn something about the market you want to enter, the goods and services already
existing and you have to understand some basic business and accounting principles.
(6) This means writing down credits and debits, and adding up columns and
figures usually bookkeepers duty, but also recording cash flow and the value of assets
and liabilities, calculate losses and profits etc. which is what an accountant does. You
will have to know and understand the meaning of some basic accounting jargon such as
cash receipts, journal, check register, double entry, FIFO, trial balance. You need all this,
as well as financial statements, budgets, cash-flow projections, both to measure the
success of your company and to help you make decisions about allocating your resources
for future projects.
(Adapted from Ready for Business)
COMPREHENSION QUESTIONS
1. What do you understand by sole proprietorship?
2. What do you understand by partnership?
3. Why are limited liability companies economically efficient?
4. What are the main reasons for small business failure?
ENGLISH IN USE
1. Questions 1-10
For each blank (1-10), think of the word that best fits in the context. Use only one word
in each space.
Accounting is at least the second oldest profession in the world. But while earlier
professionals rapidly got to grips (1) basic techniques and even introduced
refinements, it is remarkable that generations of tax collectors staggered (2) for
thousands of years (3) finding a satisfactory general method of keeping a (4) of
their affairs. This should serve (5) a warning. The problem is common sense but the
answer is not. It is highly contrived and (6) some respects still imperfect.
A business may be pictured as a box. The box has contents and (7) virtue of owning
the box, the owner has a claim (8) the value of the contents. As the business buys
and sells goods and services, so the value of the contents of the box will increase or
(9), depending on whether the business makes a (10) or a loss.
2. Questions 11-20
For each blank (11-20), decide which of the options A, B, C or D is best. Only one
answer is correct and there is always one correct answer.
When the independent auditor begins an audit (11), he (12) that the internal
control system of the (13) is appropriate and (14); that the generally accepted
accounting principles have been applied in all accounting processes (15) the
financial statements; that these generally accepted accounting principles utilized have
been applied (16) between the current and the prior periods; and that there is an
adequate amount of informative financial (17) in the financial statements and
footnotes. Evidence gathering and its evaluation enable the auditors to (18) or
confirm these assumptions. Thus the auditors work involves the analytical process of
gathering sufficient evidential matter on a test or (19) basis to enable a competent
professional to express an opinion as to whether a given set of financial statements meets
(20) standards of financial reporting.
11.
A assortment
B task
C assignment
D responsibility
12.
A pretends
B assumes
C assures
D insures
13.
A entertainment B estate
C enterprise
D firm
14.
A effective
B proficient
C affective
D productive
15.
A undertaking
B basing on
C undergoing
D underlying
16.
A consequently
B considerably
C consistently
D consecutively
17.
A discontent
B display
C discrepancy
D disclosure
18.
A deny
B release
C reject
D direct
19.
A sampling
B dating
C stamping
D modelling
20.
A stated
B founded
C foundling
D established
Questions 21-25
In each of the following groups of sentences (21-25), there four underlined parts, A, B, C
and D. For each sentence, find the underlined part, A, B, C or D, that makes the sentence
incorrect. There is always one possible answer.
21. Auditing is (A) an analytical process applied to everyday business situations. (B)
While it is closely related to existing business practices. Without (C) first hand
knowledge of the nature of these practices and their setting, the auditor would rely
exclusively (D) on available financial data.
22. This would jeopardize (A) the two audit efficiency and effectiveness. Therefore (B) a
getting-acquainted phase (which usually includes a visit to a clients facilities and certain
analytical preliminary tests and inquiries) (C) initiates the typical audit process. Such
getting-acquainted preliminaries to the conduct of an audit are (D) standard procedures
today.
23. The auditors evaluation of the control systems (A) operating within the enterprise
has a direct influence on (B) the scope of the examination (C) he undergoes and the
nature of the tests he conducts. (D) However, we must remember that eventually both the
system and the data it produces are covered by the audit process.
24. Evidential matter supporting financial statements consists of the underlying
accounting data and all (A) collaborating information available to the auditor. The auditor
tests (B) underlying accounting data (C) by analysis and review, retracing some of the
procedural steps followed in the original accounting process and (D) reconciling the
events with the information reported.
25. The auditors evidential material is the result of tests, selected observations, and
statistical sampling where large (A) compilations of data are involved. The auditor must
always (B) balance up the natural desire for more evidential matter to support an opinion
against (C) the costliness and social usefulness of completely reconstructing the (D)
underlying data and processes that produced the financial statements.
3. Questions 26-30
Use the word given in CAPITALS at the end of each gapped line (26-30) to derive a
word that fits a space.
But what (26) is accounting? It is very difficult to find a pithy
SPECIFIC
INCLUDE
PROVIDE
FINANCE
ALLOCATE
of past decisions.
GRAMMAR
Indirect Speech
In direct speech we give the exact words of the speaker, while in indirect speech we
report using our own words what somebody has said.
We change the pronouns, names according to the meaning of the reported sentence.
-Requests and commands are reported with the infinitive.
Open the door!
Reported Statements
When the main clause contains a verb in the present tense the verb of the subordinate
(object clause) remains in the same tense as it was in the Direct Speech.
I broke the vase yesterday.
When the verb in the main clause is in the past tense all the tenses in the subordinate
clause move back into the past. (backshift)
Present Simple Past Simple
Present Continuous - Past Continuous
Present Perfect - Past Perfect
Present Perfect Continuous - Past Perfect Continuous
Past Simple - Past Perfect
Past Continuous - Past Perfect Continuous
Past Perfect - Past Perfect
Past Perfect Continuous - Past Perfect Continuous
Future Simple - Future in the Past
Future Continuous - Future Continuous in the Past
I dont like soft rock. He said (that) he didnt like soft rock.
Peter is reading a book.- He told me (that) Peter was reading a book.
I have changed my mind. She explained (that) she had changed her mind.
-Modal verbs change too.
2
may - might
have to - had to
can - could
will - would
shall - should
now - then
day
week
day
this - that
these - those
week
Exercises
I. Report the following using the past simple of the verb in brackets.
a) Put your bags in the car! he said to me. (tell)
b) Dont wait for me! she said to him. (tell)
c) Please dont tell my parents! she said to us. (ask)
d) Can you look at my essay? he said to her. (want)
e) Could you move up a bit? she said to them. (ask)
f) Please dont play my CDs without asking! she said to him. (want)
II. Change the statements into reported speech.
a) I am a policeman. He said
b) Were not staying in a hostel. They said
c) The boys went home at ten oclock. They said
d) Im a vegetarian and I dont eat meat. She said
e) Ive lost my purse. Nicola said
f) I cant read the writing on the board. The boy said
g) Well phone on Saturday. They said
h) The eggs are delivered fresh in the morning. She said
i) I didnt work the early shift on Sunday. Tom said
III. Change the direct questions into reported questions.
a) Whats your name? She asked me
b) Did you see the film on TV last night? He wanted to know
c) Where do you come from? They asked us
d) When are you both leaving? He wanted to know
e) Do you like Cornwall? The reporter asked Jake
f) Did you go to London first? She asked me
g) How old are you? The reporter asked me
h) Can you teach me to surf? Nicola asked him
i) Will you ever visit Cornwall again? She asked Jake
(Snapshot Pre-Intermediate)
Bibliography
1. Cambridge Business English Dictionary (2011), Cambridge University Press
2. Cullen, V. & Lehniger, D. (2000) B for Business. Mnchen: Max Hueber
Verlag
3. Dubicka, I. & OKeeffe, M. (2011) Market Leader Advanced (3rd edition).
Edinburgh: Pearson Longman
4. Hollinger, A. (2009) Test Your Business English Vocabulary. Bucureti:
Editura Universitar
5. Mascull, B. (2010), Business Vocabulary in Use Advanced. Cambridge
University Press
6. Swan, M., Baker D. (2012), Grammar Scan. Diagnostic Tests for Practical
English Usage, OUP
MODULE III
IMPORT EXPORT
Basic Concepts:
Import, export, trade, tariff, quota, autarky, dumping
Objectives:
a. to improve students command of English
b. to help students develop and practice basic skills to enable them to operate
effectively in real life situations
c. to increase students knowledge of business terms
Specific objectives
a. to provide information and explanations about notions related to international
trade;
b. to improve vocabulary related to the field of import and export
c. to revise grammar knowledge about the subjunctive mood
Recommendations:
a. read the texts carefully and try to address the corresponding tasks
b. use the dictionary to improve your vocabulary
c. focus on content and on language use
d. improve your control of grammar and build your vocabulary by practicing
different types of exercises
Expected results:
b. improve students command of English
c. build up speaking and writing skills
d. practice writing for specific purposes
e. encourage the independent study and self-instruction
Insurance allows risks to be taken without fear of loss. It gives security and stability to
commerce as it enables the business people to survive losses by damage, shipwreck, fire,
burglary etc. Without adequate insurance many enterprises would be too risky to undertake.
Advertising also pays an important part as it enables firms to let prospective customers know
their offer. It includes a wide range of forms from hand-distributed leaflets to highly
sophisticated television commercials.
(Ready for Business)
COMPREHENSION QUESTIONS
1. What is the usual definition of commerce?
2. How would you define trade?
3. What is meant by commercial services?
4. What ways of distribution can you enumerate?
5. Who is a wholesaler and a retailer?
6. What does import trade deal with?
7. What does export trade deal with?
VOCABULARY PRACTICE
1. Give synonyms for: commerce, commercial, foreign trade, home trade, to provide, to enable,
aid, to assist, prospective, customer, link, goods.
2. Match the following word with their corresponding definitions.
1. goods
2. services
3. profit
4. turnover
5. stock
6. producer goods/industrial goods
7. consumer goods
8. commodity
9. consumer outlet
10. trade
3. Fill in the blank choosing from these words: cash-and-carry, chain, discount, demand,
middleman, overheads, security, stock-control, turnover, wholesaler
a) The amount of money taken (without any deduction) or the amount of goods sold is the
b) Deciding how many items should be ordered when is a matter of
c) A number of shops belonging to one company is a
d) Shops possess safes for
e) A wholesaler offers his goods at a to enable the retailer to produce a profit.
f) A retailer buys his stock from a
g) The costs of running a business caused by lighting, heating, rent, wages etc. are its
h) The wholesaler is the between the manufacturer and the retailer.
i) The everyday name for a warehouse from which the retailer collects the goods himself is
j) There are industries where goods have to be made several months in advance of the main
buying for seasonal
(Ready for Business)
SPEAKING
1. Give arguments pro/against free trade and protectionism.
Take into consideration as guiding lines the following questions:
Why do most economists oppose protectionism?
Which are the main protectionist methods?
Why do governments impose import restrictions (tariffs, quotas)?
GRAMMAR
in that- clauses , after report verbs, adjectives or nouns to express plans, urgency,
intentions or suggestions: The police insisted the car (should) be moved immediately.
The police insist the car is / be moved immediately.
after if: If he (should) be found / is found guilty, hell be jailed for ten years.
after whether: Whether she (should) agree / agrees or not, were going to have to
go ahead.
after whatever: Whatever his reasons be / are, they are insufficient to excuse him.
Past Subjunctive:
We use the Past Subjunctive (were in all persons) in formal English. Its meaning is similar
to Unreal Past:
If the minister were here, he would no doubt refute the allegations. (= formal)
-
however, its more common to use was and were in their usual ways: I wish he
wasnt such a bighead. (= informal)
were is common only in the phrase if I were you and in the formal conditional
pattern were + subject + infinitive: I wouldnt argue with her if I were you. / Were
the vote go against me, Id resign.
Unreal Past:
We use Unreal Past or Past Subjunctive to discuss imaginary situations, to express
impossible wishes, and to make proposals and polite requests:
-
after if only to express regrets and frustration: If only he were / was more
adventurous. / If only I hadnt drunk so much coffee! (= but I did)
after wish when we are wishing for the virtually impossible. For more reasonable
wishes, we commonly use would or could: I wish I werent / wasnt having the
injection tomorrow (= but I am) / I wish Id listened to you. (= but I didnt). Would
is used when the speaker wants somebody or something else to change: I wish he
would change his mind and marry Jane. / I wish it would stop raining. The use with
would is often used to describe an annoying habit: I wish you wouldnt make such a
mess.
after would rather and would sooner to express preferences: Do you mean youd
sooner I werent / wasnt here? ; Id rather you hadnt spoken so rudely to him.
after as if and as though we use Present and Present Perfect forms to suggest
something is likely to be true. Unreal Past suggests it is unlikely or untrue: The man
speaks as if he was / had never heard of the place. He acts as though he owns /
owned the place.
after imperative suppose and imagine (Present Tense is also possible): Imagine
he were to tell you / told you / tells you his most personal secrets.; Suppose she were
to have followed / had followed your advice. (= but she didnt)
after its time: Its time I wasnt here.; Its time we left. / Its time to leave.
Exercises
I. Put each verb in brackets into an appropriate form:
a.
b.
c.
d.
e.
f.
g.
h.
i.
b.
c.
d.
e.
f.
g.
h.
i.
j.
Bibliography
1. Cambridge Business English Dictionary (2011), Cambridge University Press
2. Cullen, V. & Lehniger, D. (2000) B for Business. Mnchen: Max Hueber
Verlag
3. Dubicka, I. & OKeeffe, M. (2011) Market Leader Advanced (3rd edition).
Edinburgh: Pearson Longman
4. Hollinger, A. (2009) Test Your Business English Vocabulary. Bucureti:
Editura Universitar
5. Mascull, B. (2010), Business Vocabulary in Use Advanced. Cambridge
University Press
6. Swan, M., Baker D. (2012), Grammar Scan. Diagnostic Tests for Practical
English Usage, OUP
MODULE IV
STARTING A BUSINESS/THE BUSINESS PLAN
Basic Concepts:
Business, entrepreneurship, sole trader, partnership, private limited company, business plan
Objectives:
a. to improve students command of English
b. to help students develop and practice basic skills to enable them to operate
effectively in real life situations
c. to increase students knowledge of business terms
Specific objectives
a. to provide information and explanations about types of companies
b. to improve vocabulary related to types of companies and the business plan
c. to acquire knowledge about how to draw up a business plan
Recommendations:
e. read the texts carefully and try to address the corresponding tasks
f. use the dictionary to improve your vocabulary
g. focus on content and on language use
h. improve your control of grammar and build your vocabulary by practicing
different types of exercises
Expected results:
f. improve students command of English
g. build up speaking and writing skills
h. practice writing for specific purposes
i. encourage the independent study and self-instruction
BEFORE READING
1. If you had a large sum of money, would you start your own business? Why? If yes, describe
it.
2. How would you describe an entrepreneur? What skills would he/ she require?
3. What should a business plan include? Make a list of the main aspects you would consider in
writing one.
READING
Most successful strategies tend to be simple and concentrate on the businesss strengths while
building an adequate defence against its weaknesses.
Preparing a business plan
A business plan is primarily a management tool. It helps you to focus, in a logical and organised
way, on the future growth of your company. The business plan acts as a control device against
which management can measure achievement.
An introduction to the business
The two-page summary is the most important part of the document, it should be a concise
overview of the business and its products and services, including the background of the business,
that is, when it was started and the highlights of its progress, as well as an outline of the key roles
of the management personnel, previous financing arrangements where applicable and the current
ownership of the business.
The businesss objectives and related strategy
These targets would include the level of sales, profitability and how much you will take out of
the business by way of remuneration. You should describe how and where you plan to sell and
distribute your product or service.
You must explain why customers will buy from you and demonstrate to prospective investors
that you understand how your market should be segmented, and that you have the ability to sell
and deliver your product or service effectively to the correct targets.
The pricing strategy and policy for your product or service should be explained, and compared to
your competition. Show how your pricing approach will enable you to: penetrate the market,
maintain and increase market share in a competitive environment and make a profit.
The principal activities, products and history
Before lending you money, a potential source of finance will want to know all about your
product or service and the history of your business.
WRITING
Draft the plan of your business.
Bibliography
1. Cambridge Business English Dictionary (2011), Cambridge University Press
MODULE V
1.
2.
3.
4.
5.
Has the introduction of electronic banking had a significant impact on banking activities?
If yes, why?
6.
READING
Miss S.N. has been working for BRD for 10 years in the credit department. She says:
Practically, Ive been growing up with the bank. At the beginning, when I got hired there, the
bank provided credits especially for small, medium-size and state-owned companies. In time,
retail banking has developed with credits for farmers, for building houses and purchasing cars.
Lately, we have also offered consumer credits, which means that a borrower can get the credit
for any personal needs and he is not required to attach any justification documents. Our bank
also has other forms of financing such as factoring, forfeiting, leasing and overdraft.
My job at the bank is to analyze credit files and to decide whether the company is worth
crediting or not. Such a file contains documents about the company, a financial analysis of the
balance sheet and the last trial sheet, as well as a commercial analysis of the market and
competition. The bank may also ask for information about the assets of the company, the
evolution of its shares on the stock market or the situation of other loans that the company might
have to return meanwhile. If everything is O.K. then the company gets the credit.
Besides credits for companies and individuals, BRD offers a large range of banking services
such as: opening accounts, making deposits and other saving instruments, giving loans,
transferring funds, external payment, electronic banking. BRD has a well-developed ATM
network all over the country and it issues both credit cards and debit cards. The bank is also
involved in trainings and seminars for students and graduates in economics.
COMPREHENSION QUESTIONS
1. What position does BRD hold on the Romanian market?
2. What kind of bank is BRD?
3. Who owns the majority stock of the bank?
4. What types of banking services does BRD offer?
5. What sorts of documents does a credit file contain?
6. What is a consumer credit?
7. If you had a large sum of money and wanted to deposit it in a bank, would you choose
BRD? Why yes/ not?
VOCABULARY PRACTICE
1. Match the following words with the corresponding definitions below:
a) corporate banking
b) retail banking
c) credit card
d) debit card
e) mortgage
f) factoring
g) forfeiting
h) leasing
SPEAKING
1. Discuss the following with a partner:
Do people usually buy or rent their houses in our country?
Where do most people get the money to buy their houses?
When people borrow money for a house or flat, what is the usual repayment period? Are interest
rates fixed or variable?
BEFORE YOU READ
1. If you had a large sum of money, would invest it in shares? Why yes / not?
2. If yes, would you use the services of a broker?
3. How would you select him / her?
4. Do you think you can use the Internet on this purpose?
READING
When it comes to actually dealing, investors need to hire a stockbroker. Essentially, there are two
levels of service. For those that are not happy with confronting some of the questions listed in the
first paragraph of this article, a stockbrokers advisory service will be of most interest. This
option provides the chance to talk through any direct investment before it is made.
Given that your decisions may well rest upon such advisory sessions, it is essential to check the
stockbrokers credentials. Key questions will include: how long has the brokers company been
in business? Who are the partners, and what is the companys own financial position? How long
has the broker been with the company? What is the quality of research available to the broker?
Of equal importance is the fact that the relationship between broker and client is an intimate one.
Do you feel comfortable with the broker? Does he talk sense? Does his view of the world of
investments dovetail with your own? Find out exactly what the fees are per hour before signing
up, and check out how much youll pay per transaction.
The other option is to hire a brokerage house on an execution-only basis. Broadly, this is a
service which carries out all the deals as instructed by the investor. And that is it - \no research,
no tips, no pre-dealing chat, and no advice. Shop around between stockbrokers for this service as
the extent of services and charges vary hugely.
When signing up with a broker, on whatever level of service, make sure he or she is aware of
your status and appropriate documentation is used so that tax is not deducted from dividends.
And before putting pen to the dotted line, it is vital that you check which regulatory body is
supervising the brokerage house. The cautious investor would run a double check and contact the
regulatory authorities to check the company is on the authorised list.
Unfortunately, there is a large underworld of dodgy share sales people. How to spot such
fraudsters is not always easy. Beware of postal offers suggesting that you have been especially
selected for a chance to buy shares. Never ever respond to an invitation to part with money that
begins with, or sounds too good to be true. If it is, why would they be sharing it with you? Be
vigilant on the internet as this is a whole new playground for fraudsters.
The UKs Securities & Investment Board offers advice and information to enquirers on the bona
fides of share dealing companies and although it may be a bore to log off and check, better that
than a rip off.
(Hannah Beecham)
COMPREHENSION QUESTIONS
1.
In which way does the internet make share-dealing transactions much easier for
the smaller investor?
2.
What kind of questions should an investor ask himself before making such a
deal?
3.
4.
Why is so important the relationship between the client and the broker?
5.
6.
VOCABULARY PRACTICE
1. Find words in the text that mean the following:
a) to detect (paragraph 1)
b) to verify (paragraph 2)
c) capaciousness (paragraph 2)
d) to undertake (paragraph 2)
e) to consider (paragraph 3)
f) to coincide (paragraph 6)
g) questionable (paragraph 10)
h) cheating (paragraph 11)
GRAMMAR
Relative Clauses
Broadly, this [the brokerage house] is a service which carries out all the deals as instructed by
the investor. (1)
BRD, which is the second largest bank on the Romanian market, became a commercial bank in
1990. (2)
The clauses in italics have the function of describing the noun before; they perform, as to say, the
function of an adjective. Such clauses are called Relative Clauses because they relate to the
noun by means of a relative pronoun, in this case which. Relative Clauses, like adjectives, can
describe persons, things and events.
In sentence (1) the Relative Clause which carries out all the deals as instructed by the
investor provides essential information about the noun and the main clause doesnt make proper
sense without it. Such a relative clause is called Defining (Restrictive) Relative clause.
In sentence (2) the relative clause which is the second largest bank on the Romanian
market provides additional information about the subject and thus it can be omitted. This is why
it written between commas. Such a Relative Clause is called: Non-Defining (Non-Restrictive)
Relative Clause.
Relative Clauses are introduced through relative pronouns such as: who (for people),
which (for things), that (for both), whom, whose, where, when, why (accompanied or not by
prepositions for relative clauses of place, time and reason) etc. That is never used in nondefining relative clauses.
Exercises
I. Rewrite the following as one sentence using relative clauses introduced by when, where or
why:
1. The people I work with are the reason. This is why I would never change my job.
2. This is the right moment. You have to sell your shares.
3. Wall Street is the place. Most stock transactions are made here.
4. That day of May changed my life forever. I found out then that I had inherited $ 1 million
dollars.
5. 1998 is the year. I took a loan from the bank and I guaranteed with my house.
II. Choose the most suitable words underlined.
1. What was the name of the person that/ which bought your old car?
2. All the doors were open, that/ which seemed rather odd.
3. I will stay here till six, by that/which time Jane should have phoned.
4. Whatever/ Whichever you do, dont press this red button.
5. This is the school which I used to go/ I used to go to.
6. Driving carelessly/ As he was driving carelessly, the police arrested David.
7. It seems odd that/ what you should be here on holiday too.
8. This is Sophia, who/ whom is taking over my job when I leave.
9. On the Sunday, that/ which was my birthday, we went out for a meal.
10. The success of a shared holiday depends on who/ whom you share it with.
III. Put one suitable word in each space.
1. Midway through the second half City scored their forth goal, at which point United gave up
completely.
2. There is one person to I owe more than I can say.
3. It was the kind of accident for nobody was really to blame.
4. leaves last should turn off the lights.
5. Mary was late yesterday, was unusual for her.
6. At 6.00, was an hour before the plane was due, thick fog descended.
7. I dont know told you that, but they were wrong.
8. The first time I saw you was you answered the door.
9. Mrs Brown was the first owner dog won the first prizes in the same show.
10. Ive just spoken to Sally, sends you her love.
IV. Rewrite each sentence so that it contains the word in capitals and so that the meaning stays
the same.
1. I like Brenda, shes my kind of person.
THAT
WHICH
WHOSE
WHICH
WHEN
WHAT
WHICH
WHO
WHICH
WHOEVER
Bibliography
1. Cambridge Business English Dictionary (2011), Cambridge University Press
2. Cullen, V. & Lehniger, D. (2000) B for Business. Mnchen: Max Hueber
Verlag
3. Dubicka, I. & OKeeffe, M. (2011) Market Leader Advanced (3rd edition).
Edinburgh: Pearson Longman
4. Hollinger, A. (2009) Test Your Business English Vocabulary. Bucureti:
Editura Universitar
5. Mascull, B. (2010), Business Vocabulary in Use Advanced. Cambridge
University Press
6. Swan, M., Baker D. (2012), Grammar Scan. Diagnostic Tests for Practical
English Usage, OUP
MODULE VI
INSURANCE
Basic Concepts:
Insurance, premium, broker, life assurance
General objectives:
a. to improve students command of English
b. to help students develop and practice basic skills to enable them to operate
effectively in real life situations
c. to increase students knowledge of business terms
Specific objectives
a. to provide information and explanations about insurance and types of insurance
b. to improve vocabulary related to insurance
Recommendations:
m. read the texts carefully and try to address the corresponding tasks
n. use the dictionary to improve your vocabulary
o. focus on content and on language use
p. improve your control of grammar and build your vocabulary by practicing
different types of exercises
Expected results:
n. improve students command of English
o. build up speaking and writing skills
p. practice writing for specific purposes
q. encourage the independent study and self-instruction
When it comes to life insurance, there is a question to answer first: does it make sense to mix
what are two different things investment and insurance? If it is insurance you are after, go for
term insurance. It lasts for a specified term for example, 10, 20 or 30 years. If you die during
the term, there is a pre-determined pay-out. If you survive, you get nothing back. There is no
investment element.
This insurance is primarily for people who have dependants spouse, children or anyone else
such as ageing parents who will be worse off as a result of your death. The level of cover you
buy will depend on what existing life insurance you already have (for instance through your job)
and your dependants needs.
Think of your spouse. Would he or she need a lump sum, perhaps to pay off a mortgage or an
income? If the latter, insure for the lump sum which would produce the right level of income on
a reasonably assumed investment yield. Consider, too, whether you want a policy that pays out
before your death if you suffer a critical death. Be wary of an adviser who fails to question you
closely on all these matters.
If it is investment you really want, are there any tax advantages to investing through a UK-based
life policy as opposed to, say, unit trusts? Do get advice. Ask about supposed tax advantages.
How do they weigh against possible disadvantages? One is inflexibility in terms of varying a
regular premium, the timing of cashing in the investment and where you can actually invest your
money. Another is the extra costs of investing through life insurance, including the cost of life
insurance you may not really need. Grill your adviser on all these matters.
Assess carefully the reality of other advantages. Life funds may offer cheap switching between
different funds. But in practice, are you likely to be an active investor transferring your money
from one market to another? Some policies allow you to increase the life cover and decrease the
amount invested as your circumstances change you get married, have children. Make sure an
adviser has taken account of all your needs. Find out about the pros and cons of buying a cluster
of small policies rather than one big policy. You may want the flexibility to cash in some policies
early while keeping the others going. What are the investment track records of the different life
companies?
What funds are available for investing your money? Answer to all these questions before getting
your life insurance.
(Adapted from Anthony Balley)
COMPREHENSION QUESTIONS
1. What kind of life insurance is the author of the article talking about?
2. What elements do you have to take into account when choosing a type of life insurance?
3. What risks are there if you dont take all necessary precautions?
VOCABULARY PRACTICE
1. Match the following collocations with the corresponding definition:
1. accident insurance; 2. disablement insurance; 3. employers liability insurance; 4. fire
insurance; 5. holiday and travel insurance; 6. household insurance; 7. loss-of-profit
insurance; 8. motor insurance; 9. old-age insurance; 10.private health insurance; 11. property
insurance; 12. public liability insurance; 13. sickness insurance; 14. third party insurance
a) covers risks during vacations, including loss of luggage, losses due to delays
while travelling, theft or loss of money, travellers cheques, credit cards
b) covers the risks involved by compensation payable to employees for suffering
injury or disease during their work
c) covers the insured partys risks of suffering loss in consequence of being disabled
d) covers an owners risk of having to pay compensation to a member of the public
who has been injured or has suffered loss while on the premises of his company
e) covers risks linked with the insured partys liability to pay compensation to other
parties to whom he / she has caused some injury or loss
f) covers expenses of the injured while being sick and therefore unable to earn a
living
g) covers expenses of insured party due to accident
h) covers risks linked with the destruction of property and loss caused to the insured
due to flames, lightning
i) covers risks linked with structure of a house, sometimes with the things in the
house
j) covers the risk of an owner of losing profit because of circumstances beyond his
control
k) covers the risks of being unable to make a living on account of the advanced age
l) covers costs of damage to and due to the insured partys motor vehicle
m) covers the insured partys expenses for private medical treatment
n) covers all risks linked with the insured partys property
Bibliography
1. Cambridge Business English Dictionary (2011), Cambridge University Press
2. Cullen, V. & Lehniger, D. (2000) B for Business. Mnchen: Max Hueber
Verlag
3. Dubicka, I. & OKeeffe, M. (2011) Market Leader Advanced (3rd edition).
Edinburgh: Pearson Longman
4. Hollinger, A. (2009) Test Your Business English Vocabulary. Bucureti:
Editura Universitar
5. Mascull, B. (2010), Business Vocabulary in Use Advanced. Cambridge
University Press
6. Swan, M., Baker D. (2012), Grammar Scan. Diagnostic Tests for Practical
English Usage, OUP
MODULE VII
CORPORATE ALLIANCES AND ACQUISITIONS
Basic Concepts:
Joint venture, merger, takeover
General objectives:
a. to improve students command of English
b. to help students develop and practice basic skills to enable them to operate
effectively in real life situations
c. to increase students knowledge of business terms
Specific objectives
a. to provide information and explanations about types of alliances and acquisitions
b. to improve vocabulary related to mergers and acquisitions
c. to acquire knowledge about writing a report
Recommendations:
q. read the texts carefully and try to address the corresponding tasks
r. use the dictionary to improve your vocabulary
s. focus on content and on language use
t. improve your control of grammar and build your vocabulary by practicing
different types of exercises
Expected results:
r. improve students command of English
s. build up speaking and writing skills
t. practice writing for specific purposes
u. encourage the independent study and self-instruction
Again, this deal was typical of mergers that unite firms at different points in the production
chain. Drug firms hate admitting that they do anything as unmedical as market their medicines,
but SB liked Glaxo partly because of its energetic sales force.
Glaxo-SmithKline is no less revealing in its undoing. For at first sight it seems to confirm the
view that mergers are inspired more by the egos of managers than a desire to create value. Report
after report has shown that mergers on average fail to benefit shareholders, especially
shareholders in companies that are buying rather than being bought. The reasons vary. But the
most common problem, according to economists who have studied mergers in America and
Britain, has been that the aims of owners and managers are misaligned. Managers want to build
empires; shareholders, numerous and unorganised, have often been powerless to stop them.
Intriguingly, even the apparently disastrous collapse of Glaxo-SmithKline hints that managers
might be behaving more like shareholders. Although the deal was feted by analysts, the record of
drugs mergers is no better than that of mergers in general. The new Glaxo-SmithKline depended
for its success on the collaboration of scientists and managers from both companies. At a
dreadful cost to their reputations, SBs managers appear to have concluded that this is
impossible. Moreover, they have done so today rather than in a few years time, when the cost to
shareholders might have been far higher. The biggest mergers of the 1980s went wrong after they
happened. The biggest corporate marriage of the 1990s has fallen apart without even making it to
the altar. Thats progress.
(Shortened and adapted from The Economist)
COMPREHENSION QUESTIONS
1. Why did Glaxo Wellcome and SmithKline Beecham want to merge?
2. Why did their intention of merging fail?
3. What are the general causes for the failure of mergers in the opinion of analysts?
4. What is your personal opinion about it?
5. Why is the merger compared to a wedding in the last paragraph of the article?
VOCABULARY PRACTICE
1. Find words in the text that mean the following:
a) hurt, offended (paragraph 1)
b) amazing (paragraph 1)
c) climax, peak (paragraph 1)
d) offer (paragraph 1)
e) rising stock market (paragraph 1)
f) section (paragraph 2)
g) healthily thin (used figuratively) (paragraph 3)
h) to be celebrated, to be feasted (paragraph 6)
SKILLS FOCUS
WRITING
A Report
1. Read the following report written by a member of the Personnel Department for his boss
concerning a change to flexible working hours for office personnel and match the following
headlines with the parts of the report:
a) The body of the report
b) The date
c) The name of the person who writes the report
d) The introduction
e) The subject of the report
f) The receiver of the report
well as your recommendations. Dont forget to use linking devices and to check the spelling, the
punctuation and the style at the end.
2. Imagine that you work in the Research and Development Department of the famous
McDonalds company. Your boss, the Head of this department, asked you to make a research
project concerning a possible collaboration between your company and a Romanian construction
company in order to open a new McDonalds subsidiary in your native town. You have to take
into account the area, the economical situation of the construction company as well as the costs
of the investment and the desirable profit.
Write a report to your boss presenting the results of your research.
Bibliography
1. Cambridge Business English Dictionary (2011), Cambridge University Press
2. Cullen, V. & Lehniger, D. (2000) B for Business. Mnchen: Max Hueber
Verlag
3. Dubicka, I. & OKeeffe, M. (2011) Market Leader Advanced (3rd edition).
Edinburgh: Pearson Longman
4. Hollinger, A. (2009) Test Your Business English Vocabulary. Bucureti:
Editura Universitar
5. Mascull, B. (2010), Business Vocabulary in Use Advanced. Cambridge
University Press
6. Swan, M., Baker D. (2012), Grammar Scan. Diagnostic Tests for Practical
English Usage, OUP
GLOSSSARY
MODULE 1
advertise verb
advertisement noun
auction verb
be in the market for something
bid noun, verb
billboard noun
brand noun
buy noun, verb
cold calling noun
commercial noun
consumerism noun
customer noun
customize noun
discount noun
distributor noun
endorse verb
flier verb
freebie noun
label noun
leaflet noun
market noun
promote verb
public relations
publicity noun
shopping noun
wrap verb
MODULE 2
accountancy noun
accountant noun
account noun
MODULE 3
barter noun
benchmark noun
bill of lading noun
cargo noun
Incoterm noun
letter of credit noun
trade noun
voucher noun
MODULE 4
articles of association noun
business plan noun
partnership noun
private limited company
noun
MODULE 5
amortisation noun
ATM noun
bank noun
bankruptcy noun
bond noun
borrow (RECEIVE) verb
broker noun
checkbook noun
collateral noun
credit card noun
debit card noun
deposit noun
dividend noun
electronic banking noun
equity noun
exchange rate noun
flotation noun
internet banking noun
leveraged buyout noun
mortgage noun
MODULE 6
actuary noun
annuity noun
assure verb
assurance noun
claim noun
cover note noun
health insurance noun
indemnity noun
insure verb
insurance noun
life insurance noun
policy noun
premium noun
third-party insurance
underwriter noun