Business English Language Practice Level One PDF

Ministry of Higher Education Higher Institute of Management Sciences Beni-Suef Business English Language Level One Dr. Mohamed Aboulfotoh A Lecturer of English, MSA 2023-2024 Business English Language Practice...

Ministry of Higher Education Higher Institute of Management Sciences Beni-Suef Business English Language Level One Dr. Mohamed Aboulfotoh A Lecturer of English, MSA 2023-2024 Business English Language Practice Level One Higher Institute of Management Sciences Beni-Suef Business English Language Level One Dr. Mohamed Aboulfotoh A Lecturer of English, MSA 2023-2024 (Dedication) To all MSA students…, I would like to congratulate you on joining MSA, hopefully much success to you. Best wishes for a happy academic year DR. MOHAMED ABOULFOTOH Dr. Mohamed Aboulfotoh 2 Business English Language Practice Level One Introduction Dear Business English Course Participants in Level One! The activities presented will give you the possibility to acquire Business English skills in an interactive way. The book includes tasks on vocabulary connected with the areas of Business reading topics, such as starts-up, finance, investing, applying for a job…...etc. The course covers major areas of business such as management, strategic and operation management, management by objectives (MBO), managerial communication, marketing, sales techniques and strategies, customer loyalty, …. etc. Moreover, it covers accounting issues such as budgets and financial reports, furthermore, it discusses Human Resource Development issues such as employment, performance, Evaluation, and promotion practices. -Aims of B- English Course: MSA students will be able to: acquire essential knowledge of Business terms and abbreviations. practice required communication skills of Business English. improve business writing skills and present business reports. identify the main idea of a business text. use grammatical rules in writing correctly. introduce themselves in an interview. propose a demo for an idea of a project. solve problems and projects management. simulate a business project or idea as a start-up. -Description of B-English Course: The B-English is an integrated content language course that focuses on practical knowledge and business skills. This course contains the following study units: Needs Analysis/Placement Test Business English Topics Grammar Business Idioms/Vocabulary Business Writing Skills Spoken English How to Succeed in any Interview Dr. Mohamed Aboulfotoh 3 Business English Language Practice Level One Table of Contents N. Tittle Page 1) Dedication 2 2) Introduction 3 3) Table of Contents 4 4) Placement Test 5-13 I Business Topics 14-83 II Business Reading 80-109 III Grammar 112-131 IV Spoken English 132-136 V Business Vocabulary 137-165 VI Business Writing 166-180 5) How to Succeed in any Interview 181-192 6) Placement Test 193-204 7) References 205 Dr. Mohamed Aboulfotoh 4 Business English Language Practice Level One PLACEMENT TEST 1-Grammar: o Present tenses 1. My boss --------------- work before 7 a.m. at least twice a week. a) starts b) is starting c) does start 2. At the moment, sales --------------------- very quickly. a) increase b) are increasing c) increased o Past tenses 3. Only six people------------------ the training yesterday. a) attend b) are attending c) attended 4. What -----------------at your appraisal last week? a) did you discuss b) you discuss c) do you discuss o Will and going to 5. Are you late? -------------- you a lift to work if you like. a) I’ll give b) I give c) I giving. 6. It’s already decided. We ------------- the conference in May this year. Dr. Mohamed Aboulfotoh 5 Business English Language Practice Level One a) are going b) held c) hold o Modals 7. I’m not sure what to do about the meeting. I --------- just postpone it. a) can b) shall c) might 8. Stop here. You----------------go into the chemical research lab. a) Don’t need to b) mustn’t c) couldn’t o Conditionals 9. If I were you, I----------------------for the job. a) would apply b) apply c) applied 10. If sales ----------------further, the company will be in trouble. a) will fail b) fall c) are falling o ____ing forms and infinitives 11. My colleagues suggested ------------------out for lunch. a) to go b) go c) going 12. Are you hoping ------------------------------ promotion? a)to get b) getting c) get Dr. Mohamed Aboulfotoh 6 Business English Language Practice Level One o Comparatives 13. James is much--------------------at finance than Henry. a) good b) better c) well 14. The Oxford branch is-------------successful in the whole company. a) the more b) more c) the most o Relative Clauses 15. My boss, ----------------- is the head of HR, is planning to retire early. a) who b) which c) that 16. The department---------------I work is under tremendous pressure. a) what b) that c) who o Articles 17. Have you seen---------------------report we were talking about earlier? a) the b) a c) — 18. I’m -------------------------designer and I work for Shipton. a) an b) a c) the Dr. Mohamed Aboulfotoh 7 Business English Language Practice Level One o Determiners 19. I’m sorry, but I don’t have------------------ money on me. a) some b) any c) many 20. Don’t worry. We’ve still got--------------- time left before the meeting. a) a little b) little c) few o Passives 21. Due to a lack of support, the exhibition--------------------. a) has been cancelled b) has cancelled c) cancelled 21) All staff reaching their target -------------------- a bonus. a) will give b) will be given c) give o Reported Speech 22) My boss told me she------------------------her job. a) would hate b) hating c) hated 23) Sylvie said she-------------to take early retirement. a) wanted b) will want c) want Dr. Mohamed Aboulfotoh 8 Business English Language Practice Level One 2- Vocabulary: o Companies and Offices 24) KP Recruitment hasn’t been in business for very long, it is- ------------- company. a) an upcoming b) a well-established c) a multinational 25) The media are reporting the unexpected---------------------- between JG Construction plc and Design It. a) merge b) merger c) merged o Finance 26) Sales have continued to go down over the last few months. They’ve ------------to 10.000 units per month a) dropped b) increased c) evened out 27) We don’t make much money on those products, but we do on the E754- it’s quite--------------------. a) profit b) profitable c) profitably Dr. Mohamed Aboulfotoh 9 Business English Language Practice Level One o Human resources 28) Helmut is only 59. But he’s already planning what he’ll do during his-----------------------------. a) retirement b) pension c) application 29) JP Electronics looks after its staff. All-------------------have good salaries and opportunities for training. a) employees b) employers c) employment o Logistics 30) The goods are being loaded onto the lorry, about to be -----. a) delivered b) dispatched c) ordered 31) Our usual ----------------has let us down, so we are looking for a new one. a) supply b) supplier c) supplies o Meeting and conferences 32) Linda took notes in the meeting, so she is typing up the-----. a) minutes b) handouts c) agenda Dr. Mohamed Aboulfotoh 10 Business English Language Practice Level One 33) Are you able to------------------------- The meeting tomorrow? a) attendance b) attendance c) attended o People and places 34) The Head of Production speaks to workers on the------------- --- everyday. a) office b) factory c) shop floor 35) Helen currently---------------------a team of 12 people. a) manages b) managers c) managed o Planning 36) We shouldn’t open any more offices. However, we need to - -----------------and produce a wider range of goods. a) downsize b) diversify c) expand 37) Next year’s results aren’t------------we had good results last year, but bad ones this year. a) predictable b) predict c) prediction Dr. Mohamed Aboulfotoh 11 Business English Language Practice Level One o Production and processes 38) Eduardo earns more money if he works the night------------. a) stock b) shift c) batch 39) We’re planning to ------------------- more to meet demand. a) produce b) product c) production o Projects and teams 40) Have we got a---------------- We need to know the start and end dates for the project. a) specification b) deadline c) estimated o Sales and marketing 41) We’re-----------------the advertising campaign in May this year. a) promoting b) inquiring c) launching 42) Globe Pharm plc is reducing its prices to remain-------------. a) compete b) competition c) competitive o Telephone and e-mailing 43) I’m on a train. If I ------------------------, I’ll call you back. Dr. Mohamed Aboulfotoh 12 Business English Language Practice Level One a) get cut off b) get through c) leave a message 44) Please refer to the prices in the -------------------document. a) attach b) attachment c) attached o Training 45) How many -------------are there on each day of the training course? a) programmes b) exams c) sessions 46) This course should help participants------------------writing skills. a) develop b) development c) developed Dr. Mohamed Aboulfotoh 13 Business English Language Practice Level One I- BUSINESS TOPICS Dr. Mohamed Aboulfotoh 14 Business English Language Practice Level One MANAGEMENT: AN OVERVIEW Management is the process of achieving organizational goals through engaging in four functions of planning, organizing, leading, and controlling. Planning: Setting goals and deciding how best to achieve them. Organizing: Allocating and arranging (human & non-human) resources so that the plans can be carried successfully. Leading: Communicating with or Influencing others to work toward goals. Controlling: Regulating activities to reach goals. Comparing the results with expected standards (progress towards goals), and take corrective action as needed. N.B. It is useful to keep in mind that management process applies not only to profit-making organizations but also to a nonprofit organization (an organization whose main purpose Dr. Mohamed Aboulfotoh 15 Business English Language Practice Level One center on issues other than making profits e.g., educational, and charitable institutions. Management-an art or a science? Is management an art or a science? Is it an instinct or a set of skills and techniques that can be taught? What do you think makes a good manager? What qualities can be acquired? What must be born with? Peter Drucker, the well-known American business professor and the father of management, suggested that the work of a manager can be divided into planning (setting objectives), organizing, integrating (motivating and communicating), measuring, and developing people and resources. Roles f managers are: o First, managers (especially senior managers such as company chairman-and women- and directors) set objectives and decide how organization can achieve them. Dr. Mohamed Aboulfotoh 16 Business English Language Practice Level One o Secondly, managers organize these resources to perform the jobs. o Thirdly, managers practice the social skills of motivation and communication (Teams). o Fourthly, managers have to measure the performance of their staff. o Lastly, managers develop people- both their subordinates and themselves. o Management By Objectives (MBO) is regarded as one of the important contributions of Drucker to the discipline of management. He introduced this concept in 1954. MBO has further been modified by Schleh which has been termed as management by results. Management by Objectives (MBO) starts with clearly defined strategic organizational objectives expressed in mission and vision statements. To support the mission, the organization needs to set clear goals and objectives, which then cascade down from one organizational level to the next until they reach everyone. Dr. Mohamed Aboulfotoh 17 Business English Language Practice Level One ▪ Vision is about how we would like the world to change for the better. For example: A world without hunger. ▪ Mission is what the organization commits itself to do and identifies the people the organization serves, where they are and how they are served. For example: To reduce hunger in our country through training, enabling, and supporting farmers. ▪ SMART objectives Peter Drucker, in his book, The Practice of Management, proposes the SMART acronym to make MBO more effective. Goals and objectives must be: ✓ Specific ✓ Measurable ✓ Agreed – Attainable ✓ Realistic ✓ Time related Although management is not entirely scientific. It is a human skill. Business professors obviously believe that intuition and “instinct” are not enough; there are management skills that have to be learnt. A manager’s working knowledge and skills are also important factors that contribute to high performance (achieving goals) Dr. Mohamed Aboulfotoh 18 Business English Language Practice Level One Managerial Skills & Performance A)Key Management Skills For managers, the three key skill types are technical, human, and conceptual. 1-Technical skills- are skills that reflect both an understanding of and a proficiency in a specialized field such as accounting, finance, engineering,. etc. 2-Human skills- are skills associated of communicating with others and motivating them to develop themselves and perform well in pursuit of organizational goals. 3-Conceptual skills- are related to the ability to visualize the organization as a whole and understands how the organization fits into the wider context of the industry, community, and world. B) Performance What constitutes high performance in an organization? Performance is made of two important dimensions: 1- Effectiveness 2- Efficiency relates to the extent to which addresses the best resource performance reaches usage (inputs) involved in organizational goals. achieving outcomes (outputs). Dr. Mohamed Aboulfotoh 19 Business English Language Practice Level One Operations Management and Performance Operations management is the productive processes that convert input into output (goods and services). Productivity is an efficiency concept that gauges the ratio of outputs relative to input into a productive process. Productivity: is aimed at assessing the efficiency aspect of organizational performance. It is the ratio of outputs relative to inputs. Productivity: can be a useful tool for managers because it helps track progress toward the more efficient use of resources in producing goods and services. Organizational Productivity is often measured by using this equation: Dr. Mohamed Aboulfotoh 20 Business English Language Practice Level One STRATEGIC MANAGEMENT A)Definition Strategic Management is a process through which managers formulate and implement strategies geared to optimizing strategic goal achievement, given available environmental and internal conditions. Strategic management is oriented toward reaching long-term goals and involves developing specific strategies. B) The Strategic Management Process The process begins with identifying the organization’s mission and strategic goals. The process also includes analyzing the competitive situation, taking into account consideration both the external environment and relevant organizational factors. C)Importance of Strategic Management Strategic management is important to organizations to identify and develop a competitive advantage, which is a significant edge over the competition in dealing with competitive forces. The Strategic management processes. Dr. Mohamed Aboulfotoh 21 Business English Language Practice Level One HOW LEADERS-MANAGERS INFLUENCE OTHERS MANAGEMENT POWER is the capacity to affect the behavior of others. Leaders in organizations typically rely on some or all of six major types of power: legitimate, reward, coercive, expert, information, and referent. 1) Legitimate Power: relates to one’s position or authority. 2) Reward Power: relates to rewards, including pay raises, bonuses, …..etc. 3) Coercive Power: relates to punishment due to undesired behaviors. 4) Expert Power: is based on the possessive of expertise that is valued by others. 5) Information Power: results from access to and control over the distribution of important information about organizational operations and future plans. 6) Referent Power: results from being admired or liked by others. Dr. Mohamed Aboulfotoh 22 Business English Language Practice Level One BUSINESSPEOPLE & ENTREPRENEURS Business is simply the activity of producing, buying and selling goods and services. Commerce is used to refer to business: when we talk in relation to other fields:” literature, politics, and commerce. In relation to government departments that deal with business: the US Department of Commerce. In the names of organizations which help business: chambers of commerce. On the internet: electronic commerce or e-commerce. Self-employed people: A freelance graphic designer, a freelancer means I work for myself- I’m self-employed. A businessman is someone who works in their own business or a manager in an organization. An entrepreneur is someone who starts or founds or establishes their own company. An entrepreneur may find or establish a series of companies or start-ups. A large company mainly owned by one person or family is a business empire. Dr. Mohamed Aboulfotoh 23 Business English Language Practice Level One Successful businesspeople, especially heads of large organizations, are business leaders or, in journalistic terms, captains of industry. -I’m the managing director and main shareholder of a small electronics Co. in Scotland called Advanced Components Ltd. “Ltd” means Limited co. - I’m the chief executive of a British company called MegaCon PLC. “PLC” means public limited company, so anybody can buy and sell shares in Megaco on the stock market. I’m CEO of Bigbucks INC. “INC” stands for Incorporated. This shows that we are a corporation, a term used especially in the US for companies with limited liability. Dr. Mohamed Aboulfotoh 24 Business English Language Practice Level One MANGERIAL COMMUNICATION Communication is the exchange of messages between people for the purpose of achieving common meaning. Communication has two types: 1) Verbal Communication: is the written or oral use of words to communicate. A)Written communication occurs through a variety of means, such as business letters, office memorandums, reports, resumes, written telephone messages, newsletters, and policy manuals. B) In contrast to written communication, oral communication, or spoken word takes place largely through face-to-face conversations with another individual, meetings with several individuals, and telephone conversations. Oral communication has the advantage of being fast is generally more personal than written conversation and provides immediate feedback from others involved in the conversation. Written communication is also needed as it’s documented or recorded. Dr. Mohamed Aboulfotoh 25 Business English Language Practice Level One 2) Nonverbal Communication: is communication by means of elements and behaviors that are not coded into words. It includes: a) Kinesics behavior: refers to body movement such as gestures, feelings, facial expressions, eye movement and postures. b) Proxemics: refers to the influence of proximity and space on communication. Some managers arrange their offices so that they have an informal area where people can sit without experiencing the spatial distance and formality created by a big desk. c) Paralanguage: refers to the vocal aspect of communication that relates to how something is said than what is said. Voice quality, tone of voice, laughing and yawning fit in this category. d) Object language: refers to the communicative use of material things, including clothing, cosmetics furniture, and architecture. The right skills-Hard or Soft Skills or the two YOU HAVE GOT THE BRAINS BUT YOU HAVE GOT THE TOUCH. Discuss Dr. Mohamed Aboulfotoh 26 Business English Language Practice Level One Review Questions 1) Over to YOU: a) Who is your country’s most famous entrepreneur? b)What are they famous for? c) In your opinion, are business leaders born or made? d)Why is Management considered as an ongoing activity? e) What are the four major functions of Management? f) What does planning involve? g) Which are the parts of the organizing function? h)Which function of Management includes influencing others? i) What is communication? j) What kind of communication do managers use in their work? k)What is verbal communication? l) What are the advantages of written communication? 2-Match the term in column (A) with its definition in column (B) 1 leading a) Setting goals and deciding how best to achieve them 2 Planning b) Regulating activities to reach goals 3 Organizing c) Communicating with or Influencing others to work toward goals 4Controlling d) Allocating and arranging (human & nonhuman) resources so that the plans can be carried successfully. Dr. Mohamed Aboulfotoh 27 Business English Language Practice Level One 3-Match the term with its definition. a) Legitimate 1. results from being admired or liked by Power others. b) Reward 2. results from access to and control over Power the distribution of important information about organizational operations and future plans. c) Coercive 3. is based on the possessive of expertise Power that is valued by others. d) Expert Power 4. relates to punishment due to undesired behaviors. e) Information 5. relates to one’s position or authority. Power f) Referent 6. relates to rewards, including pay Power raises, bonuses, …..etc. 4- Choose the Correct Answer from a,b,c &d [MULTIPLE CHOICE] 1. Helen curently........................................ a team of 12 people. a-manages b- managers c- managed d-magaging 2. The process of achieving the organizional goals of an insitution through four basic functions is called........................... a-marketing b-management Dr. Mohamed Aboulfotoh 28 Business English Language Practice Level One c-strategic management d- MBO 3. Management is the process of achieving organizational goals through engaging in..........................functions. a- two b-three c- four d- five 4. Planning is setting............................... and deciding how best to achieve them. a-standards b. specifications c. outcomes d-goals 5. Influencing others to work towards goals is called................... a-controlling b-leading c- body language d- power 6..................................... is allocating and arranging resources. a-efficiency b-organizing c- output d-input 7..................starts with clearly defined strategic organizational objectives expressed in mission and vision statements. a-MBA b-MBO c- MBC d- Not any one 8. MBO is abbreviation for management by............................... a-Organizing b-Objective c- Output d- Outcomes 9........................is about how we would like the world to change for the better. a-Mission b-Vision c- Purpose d- Message Dr. Mohamed Aboulfotoh 29 Business English Language Practice Level One 10..................... is what the organization commits itself to do and identifies the people the organization serves, where they are and how they are served. a-Mission b-Vision c- Purpose d- Message 11. All goals and objectives must be............................... to achieve MBO.. a-SMART b-SWOT c- HRM d- AIDA 12................... is the extent to which performance reaches organizational goals. a-Effectiveness b-Efficiency c-Management d-Outcome 13.................. addresses the best usage of the resources to achieve the outcomes. a-Efficiency b-Effectiveness c-Performance d-Business 14........................... is the ratio of outputs relative to inputs. a-Efficiency b-Effectiveness c-Performance d-Productivity 15......................... skills reflect both an understanding of and a proficiency in a specialized field such as accounting, finance, engineering,. etc. a-Technical b-Business c- Conceptual d- Human Dr. Mohamed Aboulfotoh 30 Business English Language Practice Level One 16....................... skills are associated of communicating with others and motivating them a-Technical b-Business c- Conceptual d- Human 17..............skills are related to the ability to visualize the organization as a whole and understands how the organization fits into the wider context of the industry, community, and world. a-Technical b-Business c- Conceptual d- Human 18........................management is the productive processes that convert input into output (goods and services). a-Strategic b-Operative c- MBO d- Productive 19.......................management is oriented toward reaching long- term goals and involves developing specific strategies. a-Strategic b-Operative c- MBO d- Productive 20..........................is an efficiency concept that gauges the ratio of outputs relative to input into a productive process. a-Strategic b-Operative management c- MBO d- Productivity 21. The FIVE steps of strategic management are...................... a- identify goals , SWOT, create strategy, implement strategy, and evaluate results Dr. Mohamed Aboulfotoh 31 Business English Language Practice Level One b- SWOT, identify goals, create strategy, implement strategy, and evaluate results c- create strategy, implement strategy, SWOT, identify goals, and evaluate results d- create strategy, implement strategy, identify goals, SWOT and evaluate results 22....................... is someone who starts or founds or establishes their own company. a- A professor b-An entrepreneur c- A salesman d- A marketer 23...................... is the vocal aspect of communication that relate to what is said. a-Paralanguage b-Kinesic c-Proxemics d-Object language 24. ……….... Communication: is the written or oral use of words to communicate. a-Verbal b- Non-verbal c- MBO d- Productivity 25. ……….... communication occurs through a variety of means, such as business letters, office memorandums, and reports. a-Written b- Oral c- MBO d- Productivity Dr. Mohamed Aboulfotoh 32 Business English Language Practice Level One 26. …………… communication: is communication by means of elements and behaviors that are not coded into words a-Verbal b- Non-verbal c- MBO d- Productivity 27…………..: refers to body movement such as gestures, feelings, facial expressions, eye movement and postures. a-Proxemics b- Kinesics behavior c- Object language d-Paralanguage 28 Writing a business letter is a type of...................................... communication. a-nonveral b- effective c-verbal d- oral 29..................... is the vocal aspect of communication that relate to what is said. a-Paralanguage b-Kinesic c-Proxemics d-Object language 30. Strategic management is oriented toward reaching ……………. goals and involves developing specific strategies a- short term b- long term c-specific d-medium Dr. Mohamed Aboulfotoh 33 Business English Language Practice Level One 5- State whether the following statements TRUE (T) OR FALSE (F): 1. management process applies not only to profit-making organizations but also to a nonprofit organization 2. management is not entirely scientific. It is a human skill. 3. The four Ps are for Product, Price, Place and Promotion. 4. Strategic management is important to organizations to identify and develop a competitive advantage 5. Operation management is the management of productive processess that convert inputs into outputs. 6. Object communication is the communicative use of material or things. 7. CEO is ultimately responsible for the overall companyy or organization. 8. Labor, capital, energy, technology and materials are outputs. 9. A manger is the person who works in the area of marketing. Dr. Mohamed Aboulfotoh 34 Business English Language Practice Level One A Company Structure is a system outlining how the activities are organized and directed to achieve goals. There are nine departments at the company headquarters. ▪ Ground Plan of Headquarters Dr. Mohamed Aboulfotoh 35 Business English Language Practice Level One ▪ Read this short presentation of the management team of a British company then write the correct letters(a-n) in the right places in the organization chart. At the top of the company, the chairman of the Board [a] is responsible to the shareholders and the day-to-day running is the responsibility of the Chief Executive Officer (CEO)[b], who also has a seat on the Board. Five directors form the senior management committee of the company. Going from left to right on the organization chart, we start with the Director of Finance[c], who runs his division with Deputy[d]. Then, we have the Director of Operations[e], who is responsible for production and logistics. The factory manager [f] answers directly to him. Next, we have the Director of Marketing[g], who is responsible for sales so the national sales manager[h] reports to him on the activities of the whole sales team, which is divided into two regions, north and south, each managed by a regional sales manager [I; j]. The Director of Human Resources[K] has a Training and Development Manager[l] and a Compensation and Benefits Manager[m], who look after the day-to-day running of her department. Finally, the Director of Research and Development[n] runs a small but important division of the company. She too reports directly to the CEO. Dr. Mohamed Aboulfotoh 36 Business English Language Practice Level One This is an example of part of a company organization chart: Dr. Mohamed Aboulfotoh 37 Business English Language Practice Level One ▪ Match the descriptions 1-5 to the different functions of a company 1 Creates new products. A administration 2 In charge of the welfare of B purchasing employees. 3 Keeps a record of all payments. C personnel 4 Orders all supplies needed. D research & development 5 Provides office services, e.g. E sales & marketing typing F production G accounts H legal Dr. Mohamed Aboulfotoh 38 Business English Language Practice Level One HUMAN RESOURCE MANAGEMENT (HRM) 1) Human Resource Management (HRM) is the management of company PERSONNEL (staff). It includes the activities of human resource planning, recruitment, selection, orientation, training, performance appraisal, compensation, and safety.” 2) HRM: is the management of people or RESOURCES in an organization including areas of compensation and benefits, recruiting and staffing, employee and labor relations and occupational health and safety. 3) Human Resource Development (HRD) is the development of company Resources. “It is the development of human capabilities, abilities, knowledge and how to meet people’s ever-growing needs for goods and services to improve their standard of living, work, and quality of life.” 4) Human Resource Information Systems (HRIS): systems used to gather, store, and analyze information regarding an organization’s human resources. 5) Strategic HRM (SHRM) has been described the interface between HR and strategic management. In other words, it describes how the future development of the organization, and Dr. Mohamed Aboulfotoh 39 Business English Language Practice Level One the achievement of its objectives can be supported by its HR policies and practices. 6) Managerial Job Types: A-Vertical Dimension: Hierarchical Levels Along the vertical dimension, managerial jobs in organizations fall into three categories: first-line, middle, and top management. These categories can be viewed as vertical differentiation among managers because they involve three different levels of the organization. Types of Managers by Level and Responsibility Area Dr. Mohamed Aboulfotoh 40 Business English Language Practice Level One First-Line Managers (or first-line supervisors) are managers at the lowest level in the hierarchy who are directly responsible for the work of operating (nonmanagerial) employees. They often have titles that include the word "supervisor". First-line managers are extremely important to the success of an organization because they have the major responsibility of seeing that day-to-day operations run smoothly in pursuit of organizational goals. Middle managers are managers beneath the top levels of the hierarchy who are directly responsible for the work of other managers below them. Middle managers also sometimes supervise operating personnel, such as administrative assistants and several specialists (such as engineers or financial analysts). Many different titles are used for middle managers. Some typical titles include such words as "manager", "director of", "chief", "department head", and "division head". Middle managers are mainly responsible for implementing overall organizational plans so that organizational goals are achieved as expected. Top managers: are top-level managers in the organization. They are responsible for making organization-wide decisions and establishing the plans and goals that affect the entire organization. Top managers typically have titles such as executive vice president, president, managing director, chief operating officer, or Chief Executive Officer (CEO). Dr. Mohamed Aboulfotoh 41 Business English Language Practice Level One Make a comparison summarizing the above three types of managers. First line Middle Top/CEO B-Horizontal Dimension: Responsibility Areas The three major types of horizontal differentiation among managerial jobs based on responsibility area are functional, general, and project managers. 1) Functional managers are managers who have responsibility for a specific, specialized area (often called a functional area) of the organization and supervise mainly individuals with expertise and training in that specialized area e.g., finance, manufacturing or operations, marketing, human resources management, accounting, quality assurance, and engineering. 2) General Managers are managers who have responsibility for a whole organization that includes most of the common specialized areas within it. A small company usually will have only one general manager, who is the head of the entire organization. Depending on how it is organized, a large company may have several general managers (in addition to the Chief Executive Officer). Dr. Mohamed Aboulfotoh 42 Business English Language Practice Level One 3) Project managers are managers who have responsibility for coordinating efforts involving individuals in several and different organizational units who are all working on a particular project. Project managers usually must have extremely strong interpersonal skills to keep things moving smoothly. ▪ Match-up the type of job with its definition: 1) general a) managers at the lowest level in the hierarchy managers who are directly responsible for the work of operating (nonmanagerial) employees; 2) project b) managers beneath the top levels of the managers hierarchy who are directly responsible for the work of other managers below them; 3) first-line c) managers at the very top levels of the managers hierarchy who are ultimately responsible for the entire organization: 4) top d) managers who have responsibility for a managers specific, specialized area of the organization and supervise mainly individuals with expertise and training in that specialized area; 5)functional e) managers who have responsibility for a whole managers organization or a substantial subunit that includes most of the specialized areas within it; 6) middle f) managers who have responsibility for managers coordinating efforts involving individuals in several different organizational units who are all Dr. Mohamed Aboulfotoh 43 Business English Language Practice Level One working on a particular project. Note: manager= Formal; boss= informal ▪ Match the descriptions 1-5 to the different functions of a company 1 Creates new products. A administration 2 In charge of the welfare of B purchasing employees. 3 Keeps a record of all payments. C personnel 4 Orders all supplies needed. D research & development 5 Provides office services, e.g. typing E sales & marketing F production G accounts H legal Dr. Mohamed Aboulfotoh 44 Business English Language Practice Level One Total Quality Management (TQM) 1) Quality: the specifications or aspects of a product about its design, including its dimensions (size), how it is to be made, the materials to be used, etc. Things should be done right first time with zero defects: no faults at all. We do spot checks every few minutes during production to ensure everything is going well. 2) TQM includes quality circles: groups of employees who meet regularly to suggest improvements. Quality Standards The International Standards Organization (ISO) is based on Geneva. It is a network of national standards institute from over 145 countries. ISO is “documented agreements containing technical specifications or other precise criteria and guidelines to ensure that materials, products, processes and services are fit for their purpose.” Dr. Mohamed Aboulfotoh 45 Business English Language Practice Level One TQM & JIT TQM often includes quality circles, a group of workers who were encouraged to contribute ideas on improving the products they made. JIT Instead of producing components in large batches, they are delivered or produced just in time (JIT), only as they are needed. Industry Industry (Uncountable) is the production of materials and goods. The related adjective is industrial. An industry (countable) is a particular type of business activity, not necessarily production. Manufacturing… …. And services- Here are some of the manufacturing Here are some of the industries that make up the services or service manufacturing sector: industries that make up the service sector: Aerospace-planes and space Catering – restaurants, bars, vehicles etc. Cars-automobiles Computer software- programs for computers Computer hardware – computers, Financial services- banking, printers, etc insurance, etc Dr. Mohamed Aboulfotoh 46 Business English Language Practice Level One Construction - building Healthcare-medical care Defense, weapons Leisure- sport, theme parks,etc. Food processing-canned- frozen Property (BrE)/Real Estate food (AmE)- buying, selling and managing building Household-goods-washing Retail- shops machines, refrigerators. Pharmaceuticals-medicine Telecommunications- phone, Internet services Steel- a strong, more useful metal Tourism- travel and than iron holidays Textile-cloth and clothes Dr. Mohamed Aboulfotoh 47 Business English Language Practice Level One Marketing Marketing is the process of planning, designing, promoting, and distributing ideas, goods, and services, to satisfy customers’ needs, and make a profit. The four Ps in marketing are: ▪ Product: deciding what to sell. ▪ Price: deciding what prices to charge. ▪ Place: deciding how it will be distributed and where people will buy it. ▪ Promotion: deciding how the product will be supported with advertising, special activities, etc. The marketing mix refers to: the key activities used in marketing an organization's products or services. It is frequently referred to as the four Ps. It consists of: ✓ Product -the features and benefits of the product or service provided ✓ Price-the costs of production, prices charged by the competitors and customers' expectations. Dr. Mohamed Aboulfotoh 48 Business English Language Practice Level One ✓ Promotion-how to promote and advertise the product or service,.e.. how to communicate with customers. ✓ Place-how to distribute the product and make it available for consumers, e.g. through retail outlets or via the Internet The four Cs in marketing are: “ To look at the marketing effort from the point of view of customers, we consider the four Cs: 1) Customer solution: we aim to find a solution to a customer” problem” by offering the right combination of products and Dr. Mohamed Aboulfotoh 49 Business English Language Practice Level One services to satisfy particulaer customer needs. Pay-as- you- go was a dream solution for parents worried about children running up big phone bills. 2) Customer cost: the price paid by the customer for the product. It includes the”price” related to not buying another product of the same or another type. For example, someone who buys. sophisticated mobile may not then have the money to buy a laptop computer that they wanted. 3) Convenience: distributing our products in the way that is most convenient for each type of customer. 4) Communication with the customer: customers are informed about products through advertising and so on, but the communication is two-way because customers also communicate with us, for example through telephone helplines. This is a good way for us to find out more about what our customers want, and to change or improve our offering, and to get ideas for new offerings. Dr. Mohamed Aboulfotoh 50 Business English Language Practice Level One Global Brands The world as one market? Many companies have successfully adopted the "think global, act local" philosophy, and have built strong global brands while also connecting with local customers and stakeholders. For example, McDonald's has a global brand and menu, but also tailors its offerings to local tastes and preferences in each market. 1) Thinking Global: The Benefits and Challenges Thinking globally means expanding your business beyond your home market and exploring new opportunities in different regions and countries. In order to think globally, businesses need to have a strong understanding of global trends, market dynamics, and customer needs in different regions. 2) Acting Local: Connecting with Customers and Stakeholders Dr. Mohamed Aboulfotoh 51 Business English Language Practice Level One Acting locally means understanding the unique needs and preferences of customers in different regions and tailoring your products, services, and marketing strategies accordingly. It also means building strong relationships with local stakeholders, including regulators, suppliers, and community organizations. 3) Think Global, Act Local: Finding the Right Balance Finding the right balance between thinking globally and acting locally is key to success in today's business environment. The key to success is to think globally and act local in a balanced way that allows businesses to capitalize on global opportunities while also connecting with local customers and stakeholders. Examples of Success: Companies that Think Global, Act Local Many companies have successfully adopted the "think global, act local" philosophy, and have built strong global brands while also connecting with local customers and stakeholders. For example, McDonald's has a global brand. Dr. Mohamed Aboulfotoh 52 Business English Language Practice Level One Market Research STEEP Analysis: is a tool used to map the external factors that impact an organization. STEEP stands for the five key areas on which the analysis focuses: Socio-cultural, Technological, Economic, Environmental/ Ecological, and Political. Martin is a senior manager in a major supermarket chain. He is speaking to a MBA about how he and his team make significant businees decision class. STEEP analysis involves examining the Social, Technological, Economic, Environmental and Political factors that affect an organization. Dr. Mohamed Aboulfotoh 53 Business English Language Practice Level One Sales Presentation Technique (AIDA) The stages of AIDA are Attention, Interest, Desire, and Action. This is a model which is used in marketing to describe the potential journey a customer might go through, before purchasing a product or a service. - Attention: What is it? - Interest: I like it. - Desire: I want it. - Action: I am getting it. Stages of a Presentation: welcome introduction of speakers topic aim Dr. Mohamed Aboulfotoh 54 Business English Language Practice Level One outline duration of the talk benefit to the audience dealing with questions joke (acceptable or even expected in certain cultures, but only recommended if the learner is a good joke teller!) A sales presentation, for example, might be divided into the following stages: 1 Arousal of interest. 2 A description of the problem that needs solving. 3 A solution. 4 Advantages of this particular solution. 5 A statement about what the audience has to do next in order to be able to enjoy the solution. Dr. Mohamed Aboulfotoh 55 Business English Language Practice Level One Businesspeople & Entrepreneurs Business is simply the activity of producing, buying, and selling goods and services. Commerce is used to refer to business’ but in relation to other fields:” literature, politics, and commerce. In relation to government departments that deal with business: the US Department of Commerce. In the names of organizations which help business: chambers of commerce. On the internet: electronic commerce or e-commerce. A businessman is someone who works in their own business or a manager in an organization. An entrepreneur is someone who starts or founds or establishes their own company. An entrepreneur may find or establish a series of companies or start-ups. Self-employed people: A freelance graphic designer, a freelancer means I work for myself- I’m self-employed. A large company mainly owned by one person or family is a business empire. Successful businesspeople, especially heads of large organizations, are business leaders or, in journalistic terms, captains of industry. Dr. Mohamed Aboulfotoh 56 Business English Language Practice Level One -I’m the managing director and main shareholder of a small electronics co. in Scotland called Advanced Components Ltd. “Ltd” means Limited co. - I’m the chief executive of a British company called MegaCon PLC. “PLC” means Public Limited Company, so anybody can buy and sell shares in Megaco on the stock market. -I’m a CEO of Bigbucks INC. “INC” stands for Incorporated. This shows that we are a corporation, a term used especially in the US for companies with limited liability. Dr. Mohamed Aboulfotoh 57 Business English Language Practice Level One Balance Sheet Balance sheet A company's balance sheet gives a snapshot picture of its assets and liabilities at the end of a particular period, usually the 12- month period of its financial year. But the snapshot could be taken on any day of the year. 1) An asset is something that has value or the power to earn money for a business. Assets include: A-Current assets: ✓ cash at the bank. ✓ securities: investments in other companies. ✓ stocks, of raw materials, unfinished goods and finished goods, that are going to be sold. ✓ debtors: money owed to the company by customers. B- Fixed or tangible assets: equipment, machinery, buildings, land. C- Intangible assets: for example, goodwill, the value that the company thinks it has as a functioning organization with its existing customers, and in some cases brands, because Dr. Mohamed Aboulfotoh 58 Business English Language Practice Level One established brands have the power to earn it money and would have a value for any potential buyer of the company. 2) Liabilities: A company's liabilities are its debts to suppliers, lenders, bondholders, the tax authorities, etc. a) Current liabilities are debts that have to be paid within a year, for example: ✓ creditors: money owed to suppliers etc. ✓ overdrafts: when the company spends more money than it has in its bank accounts. ✓ interest payments that have to be paid in the short term. ✓ tax payable. b)Long-term liabilities are debts that have to be paid further into the future, for example long-term bank loans and bonds. 1- Look at (A) opposite. What kind of asset is each of the following? Which three are not assets? 1. Vans which a delivery company owns and uses to deliver goods. 2. Vans for sale in a showroom. 3. A showroom owned by a company that sells vans. 4. A showroom rented by a company that sells cars. Dr. Mohamed Aboulfotoh 59 Business English Language Practice Level One 5. Money which customer owes that will definitely be paid in the next 60 days. 6. Money, which is a bankrupt customer owes, that will certainly never be paid. 7. The client list of a successful training company, all of which are successful business. 8. The client list of a training company, with names of clients that have all gone bankrupt. 2- Use the correct forms of words in brackets from B opposite to complete sentences. 1. The bank had lent too much and was left with a mountain of bad debts: 4.3 billion was……………(write off/ wrote off/written off) last year. 2. Most highway building programs in the US are……….….. (amortization/amortize/ amortized) over 30 years or more. 3. The company reported a record income of 251.2 million, after a 118 million………….….( charge/charged/charges) for reduction in the …………..(book value/ books value/booked value) of its oil and gas properties. 4. Under the new law, business face five different ………..……….. (depreciate/ depreciation/ depreciations) rules for different types of equipment. 5. The company reported a loss of 12.8 million, partly due to a special charge of 1.5 million to ……..………(write down/ wrote down/ written down) the value of its spare parts inventory. Dr. Mohamed Aboulfotoh 60 Business English Language Practice Level One The cash flow statement shows money actually coming into and going out of a company in a particular period: cash inflows and outflows. Types of cash flow Net cash flow from operations is the money generated by the sales of the company's goods or services, minus the money spent on supplies, staff salaries, etc, in the period. Net cash flow from investment activities is the result of: purchases of securities (bonds, shares, etc.) in other companies. money received from sales of securities in other companies. loans made to borrowers. loans repaid and loan interest paid borrowers. purchases of land, buildings and equipment. Every company appoints auditors, specialist external accountants who audit its accounts. The auditors approve them if they think they give a true and fair view of the company's situation. Net cash flow from financing activities is the result of: money received through short-term borrowing. money repaid in short-term borrowing. money received through issuing new shares in the company. money received through issuing new bonds in the company. dividends paid to shareholders. Dr. Mohamed Aboulfotoh 61 Business English Language Practice Level One Accounting standards -Audits and their transparency Every company appoints auditors, specialist external accountants who audit its accounts. The auditors approve them if they think they give a true and fair view of the company's situation. If not, they specify the qualifications they have about the accounts. If auditors do this, it certainly gets investors worried! They are particularly concerned with: - Auditor rotation: the principle that companies should be obliged to change their auditors regularly. - Conflict of interests: some say that a company's auditors should not be allowed to do its consultancy work, for example giving tax advice or doing management consultancy. Capital is the money that a company uses to operate and develop. There are two ways to raise capital: Dr. Mohamed Aboulfotoh 62 Business English Language Practice Level One Share capital and loan capital. Share capital is contributed by shareholders who put up money and hold shares in the company. A venture capitalist is someone who puts up money for a lot of new companies. Loan Capital: investors can also lend money, but then don’t own a small part of the company. An investor or a financial institution lending money in this way is a lender. The company borrowing it is the borrower and may refer to the money as borrowing or debt. The total amount of debt that a company has is its indebtedness. Security: lending to companies is often in the form of bonds, loans with special conditions. This may be an asset which was bought with the loan. Leverage: many companies have both loan and share capital. The amount of loan capital that a company has in relation to its share capital is its leverage. Leverage is also called gearing in BrE. A company with a lot of borrowing in relation to its share capital is highly leveraged or highly geared. A company that has difficulty in making payments on its debt is overleveraged. Dr. Mohamed Aboulfotoh 63 Business English Language Practice Level One The Budgeting Process 1) Definition: budget A budget is…………………………..….. a. A forecast of the year’s financial results b. A plan of the year’s work c. An expression of upper management’s objectives and priorities d. A control and measurement tool e. All of the above 2) Budgeting Strategies A)TOP-DOWN BUDGETING Step 1 A company’s upper management establishes specific financial goals, such as revenue, profit and expenses. Step 2 Department heads develop budgets that support management’s priorities and allow them to meet its goals. Step 3 Management reviews the departmental budgets and works with department managers to finalize them. Dr. Mohamed Aboulfotoh 64 Business English Language Practice Level One B) DOWN-TOP BUDGETING Step 1 Department managers prepare budgets that reflect the needs and goals of their departments. Step 2 Upper management reviews and consolidates the departmental budgets to create an overall company budget. Step 3 Management directs departments to modify their budgets, as needed, to meet the company’s objective. THE BIG PICTURE: When preparing a budget, it is important to know your company’s strategy, its position in its industry, and its philosophy toward budgets. You can learn what you need to know by……. - keeping an eye on the economy and how your company responds to it - Keeping up with the latest trends in your industry. - getting to know your company’s culture, that is, what is valued by senior management. - Using SWOT Analysis (SWOT=Strength, Weaknesses, Opportunities, and Threats to the company) Dr. Mohamed Aboulfotoh 65 Business English Language Practice Level One SWOT Analysis SWOT stands for strengths, weaknesses, opportunities, threats. In formulating strategy, a company should look at its strengths and weaknesses in relation to its competitors. For example, a good sales team is a strength and poor internal communication is a weakness. The company should also look at opportunities and threats in its environment: the strength of competitors, government regulation, the way that society is changing etc. Donna is presenting a SWOT analysis of her travel firm. Complete the table below with the expressions in italics. (The first one has been done for you.) We have some very good locations for our travel agency shops in cities all over Europe.' There may be an economic slowdown next year, and travel is one of the things people cut back on first.' We are big enough to negotiate very good prices with hotels and airlines.' "Internet booking of travel is increasing, and we want to get into this." "We need to improve staff training - we have a new computer system, but a lot of the staff can't get the most from it.' Dr. Mohamed Aboulfotoh 66 Business English Language Practice Level One There are some very good online travel companies already established. They may challenge our position.' We have high staff turnover. 'Consumers are looking for more exotic places to go on holiday, and we are planning to offer these destinations." Strengths Weaknesses Opportunities Threats Good locations Dr. Mohamed Aboulfotoh 67 Business English Language Practice Level One Doing Business Online 1) The four Ps online Andre, a lecturer in marketing, is talking about effective websites and the impact of the Internet on the marketing mix: If a website is to be successful, it needs to be relevant to the needs of the target audience. We need to ask users what they expect to see and be able to do. Companies are using the Internet to make decisions about their marketing mix. Products can be customized to suit the needs and interests of regular customers. 2) Viral Marketing Viral marketing (or word of mouse marketing) is a method of advertising and promoting a company's products or services in which individuals send information to their friends using a range of online media such as email, blogs, Facebook, and other social networking sites. Buzz marketing operates in a similar way. Fashion accessories and smart phones have recently benefited from buzz marketing. Dr. Mohamed Aboulfotoh 68 Business English Language Practice Level One Some companies are moving away from traditional advertising media and are starting to make use of short videos as entertainment appearing to a broader range of consumers. One example of viral marketing is Cadbury, who used a familiar piece of popular music in their “Gorilla” advertisement for their chocolate products. Dr. Dorndorf is introducing an assignment that students are required to complete for her module: 'The challenge in the assignment is to draw clear differences between traditional business processes and the processes used in carrying out online business, both B2C (a business that deals directly with consumers) and B2B (providing goods and services for other businesses. Dr. Mohamed Aboulfotoh 69 Business English Language Practice Level One Customer Relationship Management ystem 1) Customer Relationship Management Systems CRM is described as “managerial efforts to manage business interactions with customers by combining business processes and technologies that seek to understand a company’s customers”, i.e., structuring and managing the relationship with customers. CRM covers all the processes related to customer acquisition, customer cultivation, and customer retention. CRM also involves development of the offer: which products to sell to which customers and through which channel. CRM seeks to retain customers and design marketing campaigns. Data mining techniques in this area are useful for extracting marketing knowledge and further supporting marketing decisions. The CRM systems must analyze the data using statistical tools and data mining. 2) Customer loyalty and customer satisfaction are the most essential parts of the business. To run the business smoothly and continuously in market, customer loyalty is very important. Dr. Mohamed Aboulfotoh 70 Business English Language Practice Level One 3) Relationship between customer loyalty and customer satisfaction Customer satisfaction is a measure of how well the products or services provided by a company meet the expectations of a customer. It is a marketing term that examines the expectations of the customers’ needs by the products and services provided by the company and the good customer satisfaction involving various factors such as the quality of the product, the quality of the service provided, the location atmosphere where product or service is purchased and the price of the product or service. Similarly, Customer loyalty is referred to as customer retention where customers purchase the current products and services repeatedly rather than choosing other competitors’ brands. It also shows loyal attitudes about the products, services, brands, or businesses that help to associate with repeat purchases. Conclusion There are some differences between customer satisfaction and customer loyalty. Customer satisfaction measures the customers’ reaction to products or services. The customers’ satisfaction will be high when the products or services work well. Dr. Mohamed Aboulfotoh 71 Business English Language Practice Level One 4) The GUEST Approach to Selling “Guests are always welcome.” In recent years many different businesses have begun to approach their clients differently. A customer is someone who makes a purchase. A guest is someone we welcome with open arms and look forward to interacting with. A guest is more of a friend, someone we will treat with dignity and respect. What I would like to introduce to you is the GUEST model of selling. GUEST is an acronym for a five-step sales process. The GUEST Approach to Selling 1. Greeting your customers. 2. Uncovering the customers’ needs. 3. Explaining the product or service. 4. Solving objections. 5. Telling them to buy. Dr. Mohamed Aboulfotoh 72 Business English Language Practice Level One Banks Banks are businesses that sell many different services, all of which involve managing money. Banks play an extremely important role in helping us use money, save money, and borrow money. Bank is defined as an intermediate party between the borrower and the lender, borrowing from one party and lending to another. Banks are institution which its function is to emblage money overflow of needs their owners to lend out for the investors to carry out industerial, agricultural, service and other projects to develop national economy. Most of the banks in the Arab Republic of Egypt are comercial banks that provide a wide range of services, including accepting deposits, transferring money, making loans, and providing trust services. Central Bank: is tha bank of government which controls the money and credit being ultimate controller of other banking insitutions. Dr. Mohamed Aboulfotoh 73 Business English Language Practice Level One Banks offer the services as well: -Payment by computer: The fastest and most efficient way of transferring money is probably Electronic Funds Transfer (EFT) and Automatic Teller Machine (ATM) in banks, malls, or grocery stores. Within this system the customers can make deposits or withdrawals 24 hours a day, customers can also transfer funds from one account to another in the same bank. Suppose you want to withdraw L.E. 500 from your account: Rearrange: - You enter your personal identification number (PIN) into the machine - Indicate that you want to withdraw L.E.500 the computer setermines whether you have enough money in your account - You insert a special plastic card into the automatic teller machinne (ATM) Dr. Mohamed Aboulfotoh 74 Business English Language Practice Level One Demand and Supply 1.Demand is a schedule or a curve that shows the various amounts of a product that consumers are willing and able to purchase at possible prices. 2. Individual demand: is the demand schedule or curve of a single consumer. 3. Market demand is the sum of all individual demands. 4. Supply is a schedule or curve showing the various amounts of a product that producers are willing and able to make avaiable for sale at each of a series of possible prices during a specific period. 5.Market demand is the sum of all individual demands. 6. Market supply is the sum the quantities supplied by each producer at each price. Dr. Mohamed Aboulfotoh 75 Business English Language Practice Level One Growth Domestic Product Real GDP is the measure of output. GDP is the measure of economic activity. GDP is the total market value of final goods and services produced within the country in a given time period. How to measure GDP? When GDP increases, income increases, and expenditure increases, because: GDP=total production=total income=total expenditure The Bank Balance Sheet To understand how banking works, first we need to examine the bank balance sheet, a list of bank’s assets and liabilities. For any balance sheet: Total assets= total liabilities+capital A Simplified form of a bank balance sheet Assets (uses of funds) Checkable deposits Reserves Checkable deposits Cash items Borowings Securities Bank capital Loans Dr. Mohamed Aboulfotoh 76 Business English Language Practice Level One Profit and Loss (P&L) account ▪ Accruals accounting- Maria Malone continues: The accruals principle means that events in a particular reporting period, for example sales of goods or purchases of supplies, are recorded in that period, rather than when money is received or paid out; this may happen in a later period'. ▪ Profit and loss: The profit and loss (P&L) account records the money we make (or lose!) during a -particular reporting period, using the accruals principle. In our case, our accounts record sales from books, magazines, television advertising, etc. during the period - this is the money received from sales, minus the labour and cost of materials used to produce them, which is called the cost of goods sold (COGS). Dr. Mohamed Aboulfotoh 77 Business English Language Practice Level One Review Questions Choose the Correct Answer from a, b, c, d 1) A............... Structure is a system outlining how the activities are organized and directed to achieve goals a-Communication b-Company c-strategic management d-SWOT 2).....................are managers who are responsible for operating and seeing that day-to-day operations a-Middle Managers b-CEO c-Project Managers d-First-Line Managers 3)..................................is the management of company PERSONNEL or employees. a-HRD b. HRM c. HRIF d-PMS 4)............... systems used to gather, store, and analyze information regarding human resources a-HRD b. HRM c. HRIF d-PMS 5)............................................................. is what the organization commits itself to do. a-Vision b-Mission c- Purpose d-Value 6) To assess environmental factors, we need........................................ analysis. Dr. Mohamed Aboulfotoh 78 Business English Language Practice Level One a-strategic b-SWOT c-scientific d- financial 7) …………………....…. is the process of planning, designing, promoting, and distributing ideas, goods, and services, to satisfy customers’ needs, and make a profit. a-Marketing b-Management c-Business d- Business Management 8) The the four Ps. consists of: Price, Place, Promotion,............. a-Personnel b-Product c- Project d-Purpose 9)....................... analysis is a tool used to map the external factors that impact an organization. a-STEEP b-SWOT c-VIRAL d- BUZZ 10) The stages of AIDA are Attention, Interest,........................., and Action a-Development b-Desire c-Dream d-Digital 11) A company's.............. sheet gives a 'snapshot picture of its assets and liabilities at the end of a particular period, usually the 12-month period of its financial year. a-Balance b-Business c- Price d-Productivity 12)..............………………..is something that has value or the power to earn money. Dr. Mohamed Aboulfotoh 79 Business English Language Practice Level One a-Attention b-Awareness c-Asset d-Vision 13)............................liabilities are debts that have to be paid within a year. a-Long-Term b- Current c-Intangiable d-Tangiable 14)....................... statement shows money actually coming into and going out of a company a-Cash Flow b-CEO c-Capital d-TQM 15).............................. is the money that a company uses to operate and develop. a-Capital b-Principal c-HRD d-HRM 16).................capital is contributed by shareholders who put up money and hold shares in the company. a-Loan b-Share c-informative d-admiration 17)........................marketing is a method of advertising and promoting a company's products or services using email, blogs, Facebook and other social networking sites. a-Viral b- Mix c- Net d-Verbal 18)........................... is an abbreviation of a documented agreement of International Standards Organization. a-TQM b- ISO c- JIT d- LLC Dr. Mohamed Aboulfotoh 80 Business English Language Practice Level One 19) The process of planning, designing,pricing,promoting and distributing ideas, goods and services to satisfy customer’s needs is called................................. a-management b- marketing c- production d-distribution 20)............ gives a picture of its assets and liabilities at the end of the financial year. a-Balance sheet b- Answer sheet c- Capital d- Share capital 21) Cash in the bank is..................................... Asset. a-Current b-fixed c- intangible d- loan 22).......................................................... is a tangible asset. a- Raw materials b-Trademark c-Brand d-Goodwill 23) Depts that have been paid within a year are called................................... a-long-term liabilities b-current liabilities c- stock d-bank loans 24).................. an organization’s detailed plan of how it will spend money during a specified period of time. a-strategic plan b-budget c- promotion d-brand Dr. Mohamed Aboulfotoh 81 Business English Language Practice Level One 25) Customer satisfaction is the.................. feelings experienced by customers with regard to a product. a-negative b-positive c-productive d- effective 26)....................are organizations and people involved in a system for moving items from producer to buyers. a-Distribution channels b- Management c-Target d-Market 27) VAT is a business abbreviation for.................................. a-Value Added Taxi b-Value Added Tax c-Value Added Time d-Value Added Trade 2- State whether the following statements TRUE (T) OR FALSE (F): 1. The word memo originally is used to exchange messages outside the company. 2. The four Ps are for Product, Price, Place and Promotion. 3. CV is the key document that is used by recruiters to select candidates applying for a job. 4. Capital is the money that a company uses to operate and develop. 5. In marketing, we should”think local and act global”. 6. A manger is the person who works in the area of marketing. Dr. Mohamed Aboulfotoh 82 Business English Language Practice Level One 7. Quality means things should be done with no faults at all. 8. The company has to pay an interest when it has a loan from the bank. 9. First-line managers are extremely important and seeing that day to day operations. 10. Brand is the name given to a product so that customers will easily recognize it. 11. Customer service provides information, assistance and responses to questions. 12. Loss is the state or degree of financial success in a business activity. 13. Before starting a project, we need an estimation of costs. 14. Target audience is the people marketers are trying to reach. 15. Productivity is the ratio of goods and services to inputs. 16. Labor, capital, energy, technology and materials are outputs. 17. Operation management is the management of productive processess that convert inputs into outputs. 18. Ishikawa diagrams are management tools that help identify the root causes of problems or defects found in business operations. 19. Object communication is the communicative use of material or things. 20. CEO is ultimately responsible for the overall company or organization. Dr. Mohamed Aboulfotoh 83 Business English Language Practice Level One II-BUSINESS READING Dr. Mohamed Aboulfotoh 84 Business English Language Practice Level One (1) MANAGEMENT Management is a set of processes that can keep a complicated system of people and technology running smoothly. The important aspects of management include planning, budgeting, organizing, staffing, controlling, and problem solving. Leadership defines what the future should look like, aligns people with that vision, and inspires them to make it happen despite the obstacles. This distinction is crucial for our purposes here. Successful transformation is 70 to 90 percent leadership and only 10 to 30 percent management. Yet for historical reasons, many organizations today don’t have much leadership. And almost everyone thinks about the problem here as one of managing change. For most of this century, as we created thousands and thousands of large organizations for the first time in human history, we didn’t have enough good managers to keep all those bureaucracies functioning. So many companies and universities developed management programs and hundreds and thousands of people were encouraged to learn management on the job. And they did. But people were taught little about leadership. To some degree, management was emphasized because it’s easier to teach than leadership. But even more so, management was the main item on the twentieth-century agenda because that’s what was Dr. Mohamed Aboulfotoh 85 Business English Language Practice Level One needed. For every entrepreneur or business builder who was a leader, we needed hundreds of managers to run their ever- growing enterprises. Unfortunately for us today, this emphasis on management has often been institutionalized in corporate cultures that discourage employees from learning how to lead. Ironically, past success is usually the key ingredient in producing this outcome. The syndrome, as I have observed it on many occasions, goes like this. Success creates some degree of market dominance, which in turn produces much growth. After a while keeping the ever-large organization under control becomes the primary challenge. So, attention turns inward, and managerial competencies are nurtured. With a strong emphasis on management but not leadership, bureaucracy and inward focus take over. But with continued success, the result mostly of market dominance, the problem often goes unaddressed, and an unhealthy arrogance begins to evolve. All these characteristics then make any transformation effort much difficult. Arrogant managers can over-evaluate their current performance and competitive position, listen poorly, and learn slowly. Inwardly focused employees can have difficulty seeing the very forces that present threats and opportunities. Bureaucratic culture can smother those who want to respond to shifting conditions. And the lack of leadership leaves no force Dr. Mohamed Aboulfotoh 86 Business English Language Practice Level One inside these organizations to break out of the morass. 1) Management education was emphasized in the management programs because…. (a) Establishing direction was the main focus of organizations. (b) Motivating employees was thought to be done by the manager. (c) Strategies for producing change were the focus of organizations. (d) Management was the main item of agenda in organization. 2) How has the author defined management in this passage? a) It is the process of adapting organizations to changing circumstances b) It is the system of aligning people with the direction it has taken c) It refers to creating a vision to help direct the change effort. d) Creating better performance through customer orientation e) None of these. 3) Why were people taught little about leadership in management programs? a) Teachers were busy in understanding the phenomenon of leadership. b) Enough study material was not available to facilitate teaching of leadership. Dr. Mohamed Aboulfotoh 87 Business English Language Practice Level One c) Focus of these programmes was on developing managers d) Leadership was considered a political phenomenon e) None of these 4)In the passage, management is equated with……. a) organization b) leadership c) organizational vision d) bureaucracy 5) What, according to passage, is leadership? a) Process which keeps system of people and technology running smoothly b) Planning the future and budgeting resources of the organization c) Inspiring people to realize the vision d) None of these 6.Which of the following statements is/are definitely true in the context of the following: ( i) Bureaucracy fosters strong and arrogant culture. (ii) leadership competencies are nurtured in large size organization (iii) Successful transformation in organization is 70 to 90 % leadership (iv) (a) (i) and (ii) (b) (i) and (iii) ( e)(iii) (d) (ii) Dr. Mohamed Aboulfotoh 88 Business English Language Practice Level One (2) To Start-up or not? (Entrepreneurship) A Start-up is a new business that has just begun. Starting a new business is difficulut and start-ups are very vulnerable trying to compete with more established companies in the Business world. New businesses are often started in a bedroom or home office. Mark Zuckerberg created Facebook from his Harvard dormitory. Steve Jobs started Apple in his father's garage. It is difficulut for a new business to get funding. Some use a Crowd-funding platform like Kickstarter, where many people invest or donate a small amount of money. 50% of new businesses will fail in the first five years. 25% will fail within the first year. The number one reason is that they offer a product or service that people don't want. Other reasons for failure include financial fraud and a lack of managerial experience. But what about the ones who succeed?Uber started in 2009 and today has an estimated value of 62.5 billion. 1)What is a start-up? a)An established business b) A failed business c)A new business d) A successful business 2)Which of these companies is a Crowd-funding platform? a)Apple b) Kickstarter c)Uber d) Facebook 3)Which of these companies started in a university bedroom? Dr. Mohamed Aboulfotoh 89 Business English Language Practice Level One a)Apple b) Kickstarter c)Uber d) Facebook 4)What is Crowd-funding? a)Paying for lots of people b)A way for a new business to raise capital(funding) c) A bank d) A failed business 5) How much is Uber worth today? a) 62.5 billion b) 2009 million c) 62.5 million d)50 million 6) How many business fail within 12months? a) 50% b) 2009 c) 62.5 d)25% 7) How many start-up businesses fail within 5 years? a) 50% b) 2009 c) 62.5 d)25% 8)Which of these is NOT listed as a reason for failure? a)The wrong product or service b) Not having a grage c)Lack of managerial experience d)Financial Fraud 9) The underlined pronoun his refers to: a) Mark Zuckerberg b)father's Mark Zuckerberg c)Steve Jobs d) business man 10) Harvard Dormitory is..................... a) a university bedroom b) a home bedroom c) a hotel room d) a hall room Dr. Mohamed Aboulfotoh 90 Business English Language Practice Level One (3) APPLYING FOR A JOB Henry graduated from college with a degree in Elementary Education, and began searching for jobs. While doing an internship previously as a univeersity student, he discovered his greatest strength and interest was teaching children in a regular classroom setting. He also had previous volunteer experience as a camp and youth counselor. He therefore decided to focus his job hunt on elementary schools in his state. First, he prepared and printed a neat and comprehensive CV, highlightening his education background, work and volunteer experiences. He then added a section pointing out his other skills in such areas as foreign languages and computer programming. Finally, he added a segment about his interest, and listed some personal references. Once the CV was ready, Henry checked for job openings daily. Much of this search was done on the internet, researching elementaey schools in the area. There were none in his hometwon, which was just a tiny village. He also chatted with people and asked his acquaintances about any job openings, as he'd heard that this kind of" networking" was important. He also checked internet boards. After a few weeks, Henry discovered a possible job vacancy at a school about 15 miles from his home. He wrote a nice cover letter, outlining his background and expressing his interest in the job. Then he attached his Dr. Mohamed Aboulfotoh 91 Business English Language Practice Level One CV, and mailed the application. On week later, the school called him and asked him to come in for an interview. 1)Henry's college degree was in...................... a) Career Counseling b) internships c)Elementary Education d) Computer Programming 2) For his job search, Henry prepared a comprehensive............. a)DC b) CV c)skill d) CD 3)One of Henry's other skills was...................... a)Foreign languages b) Personal references c)Text messaging d) Mailing letters 4)Henry also checked for job postings on the..................... a)Radio b) Cover letter c) Sports page d) internet job boards 5) Henry discovered a possible job vacancy........................ a) at a nearby camp b) about 15 miles from his home c) overseas d) before doing an internship Dr. Mohamed Aboulfotoh 92 Business English Language Practice Level One (4) SOFT SKILLS When thinking about careers, professional advancement, or even job hunting, we usually emphasize so-called “hard skills”, meaning skills that are directly connected to our ability to perform a particular task or do a certain job. These can be evaluated or measured, as they are the result of degrees, certificates, specialized knowledge, seminars, continuing education, vocational training, and so on. “Soft skills”, on the other hand, are more difficult to measure or quantify, as they usually do not come from a degree or specialized training, but from life experience, personality, and attitude. They are often called “people skills”, as they typically relate, in some form, to how we deal or interact with other people. For example: Are we able to motivate and lead people? Can we communicate well with others? Some commonly mentioned soft skills would include, among others: creativity, teamwork, written and verbal communication, management, and leadership, flexibility, and organization. These types of skills are important, as they help to form a well-rounded person and employee. They can provide a competitive edge in a job search. Soft skills are relevant to just about every industry or job, because people are always key, in one way or another. For both a jobseeker and an employer, these so-called” transferable skills”; and are highly sought after. The employer Dr. Mohamed Aboulfotoh 93 Business English Language Practice Level One can utilize these soft skills across various jobs or settings, and this is also a plus for employers, which look favorably on adaptability and strong interpersonal skills. 1)Hard skills are directly connected to performing…………. a) a particular task or certain job b) measurement c)quantities d) motivation 2) Soft skills are often called…………………..…….. a) vocational skills b) people skills c)light skills d) irrelevant 3)One example of a soft skill would include…………. a) employee benefits b) specific jobs c) written and verbal communication d) continuing education 4) Another soft skill would be when one….……..…….. a) motivates and leads people b) goes to a seminar c) transports people d) gets a college degree 5) Soft skills are …………………..…….. a) semi-soft b) hard skills c) industrial skills d) transferable skills Dr. Mohamed Aboulfotoh 94 Business English Language Practice Level One (5) BANKING