English for Business Studies Lecture 1 Fall 2024 PDF

English for Business Studies Lecture 1 Fall 2024 Prepared by: Alaa Ismail  Lecture Outline Industry types Business types Business models Business Company structures Fu...

English for Business Studies Lecture 1 Fall 2024 Prepared by: Alaa Ismail  Lecture Outline Industry types Business types Business models Business Company structures Fundamentals Reading Vocabulary Supply chain Email Cover letter  Business Fundamentals Watch the video to find the answers to the questions below. https://youtube.com/clip/UgkxsagDoRJGyPFBzhjju7Z_Rm1KDU7xHeL1?si=Yyraf34bld-VIyrt 1. What are the primary industries? 2. What do they include? 3. Do you think they are the only type of industry?  Business Fundamentals  Business Fundamentals  Business Fundamentals Suggested answers: Ex. 1: Industry Type Business Type Business Model Your internet connection Tertiary (service) A public limited company B2C Your bicycle Secondary (manufacturing) A private limited company B2B Spare parts for your car Secondary (manufacturing) A private limited company B2B Your milk and cheese Primary (farming) A private limited company B2B Your haircut Tertiary (service) A sole trader B2C Your dental care Tertiary (service) A private limited company B2C  Business Reading Fundamentals Read the passage, then choose the correct answer to the questions below. B2B versus B2C B2B stands for Business to (2) Business and refers to a Business selling goods or services to another Business. In the B2C (Business to Customer) model, the end user is an individual. The result is the same for the company; they sell their product or service. However, the Business Model and the Marketing strategies are quite different. A simple example is a farmer who grows strawberries. He can sell his entire crop to a retailer or distributor for a discounted price, in one easy transaction (B2B). Or he can set- up a small farm shop and sell punnets of strawberries to individual consumers at a higher price (B2C). The B2C model generates more money for his strawberries but requires a lot of his time. With the B2B model, the Business needs to set-up long-term, trusted relationships with other Businesses. The B2C model requires marketing, brand recognition and advertising to attract customers.  Business Reading Fundamentals 1 3 4 2  Business Reading Fundamentals 5 Answers: 1) d 6 2) c 3) c 4) d 5) a 6) c  Business Company Structures Fundamentals = head office – main office.  Business Company Structures Fundamentals = chief executive officer = chief financial officer = research and development = representative = software  Business Fundamentals Profit: money that you gain by selling things Break even: or doing business, after your costs have been paid. to neither make a profit nor lose money. ≠ loss  Business Fundamentals Answer: c  Business Fundamentals revenue cost of goods sold gross profit operating costs operating profit tax and depreciation net profit after tax dividends retained profit  Business Supply Chain Fundamentals Raw Component materials supplier Manufacturer Wholesaler Retailer Customer supplier  Business Fundamentals from with to from with to - pay + amount → We paid $700. Ø - pay + a person → Pay the delivery man. for - pay for + something that you buy → I’ll pay for the tickets.  Business invoice Fundamentals = dispatched = sent Goods: Invoice: a things document delivery goods that are that shows a produced list of goods in order or services to be and the sold. prices to be paid for them. delivery delivery  Business Fundamentals You are a retailer. 1) What do you sell? 2) Who do you sell to? 3) Who do you get the products from? 4) How do you get your products?  Business An Email Cover Letter Fundamentals Email Cover Letter: a brief, professional message sent in the body of an email alongside your job application, highlighting why you're the right fit for the job. Learn how to write a cover letter or email to respond to a job advert.  Business An Email Cover Letter Fundamentals 1 sales assistant – IT consultant – degree in information technology – certificate in marketing manager - engineer hotel management – Master’s in Engineering – high school diploma good at solving problems – good team player – ability to work under pressure – communication skills  Business An Email Cover Letter Fundamentals Be specific in the subject line and say what job you are applying for. Say where you saw the advertisement. Say which job you're applying for. Write a short paragraph to say why you're suitable for the job. Mention your education, qualifications, work End by saying I look forward to experience or skills. hearing from you soon or I hope to hear from you soon. Attach a CV.  Business An Email Cover Letter Fundamentals 2 Choose the correct answer. 1. Which of these is the best subject line? (a) Jobs (b) Application for IT consultant position (c) IT consultant (d) Job advertisement 2. Which of these should you NOT use to start a cover letter or email? (a) Dear Mr Kelly, (b) Dear HR Talents, (c) Hi Stephen, (d) Dear Sir/Madam, 3. Which of these phrases can you use to complete this sentence? 'I'm writing ___ the job advertisement for the position of IT consultant.' (a) in response to (b)regarding (c) with regards to (d) in response to / regarding / with regards to (all answers are correct) Answers: 1. b 4. In your email, what can you also include? 2. c (a) details of your hobbies (b) all of your work experience 3. d (c) one or two examples of your relevant skills (d) the names of all your family members 4. c  Business An Email Cover Letter Fundamentals 3 Answers: 2 5 3 4 6 1 7  Business An Email Cover Letter Fundamentals 4 1 2 3 4 5 6 Answers: 1. Dear 7 8 2. in 3. to 9 4. in/ for 5. for 10 6. as 7. a 11 12 8. in/ at/ with/ for 9. in/ with 10. with/ for 11. to 12. from Choose the correct answer. 1. Factories often order large quantities from …….. (a) consumers (b) retailers (c) wholesalers (d) raw materials suppliers 2. Stores sell a variety of ……. to customers. (a) invoices (b) goods (c) delivery (d) CEO 3. The business is owned by one person who is responsible for any debts. What type of business is it? (a) Sole trader (b) Partnership (c) Limited liability (d) Public limited Answers: 1. raw materials suppliers 2. goods 3. Sole trader