ВОЛКОВА О.В.
BUSINESS ENGLISH
For FINANCE and ECONOMY
(сборник текстов и заданий по дисциплинам «Деловой иностранный язык» и «Иностранный язык в профессиональной сфере» для магистрантов, обучающихся по программам: 080109.68; 080104.68; 080127.68; 080106.68; 080100(23).68; 080100.68)
Красноярск 2011
УДК 81’276.6
Рецензенты:
к.ф.н., доцент О.Н. Сорокина
(Сибирский федеральный университет);
к.п.н., доцент И.П. Селезнева
(Красноярский государственный педагогический университет
им. В.П. Астафьева);
к.ф.н., доцент В.И. Литовченко
(Сибирский государственный аэрокосмический университет
имени академика М. Ф. Решетнева)
Business English for Finance and Economy:сборник текстов и заданий по дисциплинам «Деловой иностранный язык» и «Иностранный язык в профессиональной сфере» для магистрантов, обучающихся по программам: 080109.68; 080104.68; 080127.68; 080106.68; 080100(23).68; 080100.68/ О.В. Волкова; Сиб. гос. аэрокосмич. ун-т. – Красноярск, 2011. – 80 с.
Пособие представляет собой сборник текстов на английском языке и упражнений к предложенным текстам, касающихся области экономических знаний. Издание содержит задания, позволяющие повторить и закрепить основные грамматические правила английского языка, а также освоить наиболее часто употребляемые термины экономической науки.
Издание предназначено для студентов, магистрантов и аспирантов, обучающихся на экономическом факультете, а также преподавателей экономических специальностей высших учебных заведений.
Пособие можно использовать при написании научных статей, составлении списка ключевых слов, переводе материалов, касающихся экономики, для подготовки магистерской диссертации.
© Сибирский государственный аэрокосмический
университет имени академика М. Ф. Решетнева, 2011
CONTENTS
ПРЕДИСЛОВИЕ………………………………………………………………5
ACADEMIC READING, WRITING AND SPEAKING
UNIT 1 Academic Reading………………...……………………………………6
UNIT 2 Academic Writing……….. …………………………………………….8
UNIT 3 Academic Speaking………...……………………..……………………9
I.WORLD OF BUSINESS
UNIT 1 «Forms Of Business»………………………………………………….11
UNIT 2 «What Is Strategic Planning? »………………………………………..14
UNIT 3 «Three Common Misconception About Employee Incentives»………16
PROJECT WORK……………………………………………………………...18
TEST……………………………………………………………………………18
II.BUSINESS STRATEGIES
UNIT 1 «Regulation Based Linking Of Strategic Goals And Business Processes»………………………………………………………………………19
UNIT 2 «Refining The Strategy And Redefining Operational Goals»………...22
UNIT 3 «Are You Secure Enough To Delegate Effectively?»…………….…..24
PROJECT WORK……………………………………………………………...26
TEST…………………………………………………………………………...26
III.MONEY AND BANKING
UNIT 1 «Money And Its Funсtions»…………………………………...............27
UNIT 2 «Different Kinds Of Money»……………………………………..…...29
UNIT 3 «The Role Of Banks»………………………………………..………...31
PROJECT WORK……………………………………………...………………34
TEST…………………………………………………………………………...34
IV.QUALITY
UNIT 1 «Quality Management»…………………………………………….….35
UNIT 2 «Six Sigma Quality»……………………………………………….….38
UNIT 3 «How To Meet Quality Standards»…………………………….……..40
PROJECT WORK………………………………………..………….………....42
TEST……………………………………………………...……………………42
V.MANAGEMENT
UNIT 1 «Definition Of Management»………………………………………....43
UNIT 2 «What Is Management? How Management Differs From Leadership?»……………………………………………………………………46
UNIT 3 «The Role Of The Manager»………………………….………………49
PROJECT WORK……………………………………...…………....................51
TEST……………………………………………………………………………51
VI.MOTIVATION
UNIT 1 «What Is Motivation? »………………………………………….……52
UNIT 2 «Controlling Motivation: How To Do It? »…………………………..54
UNIT 3 «Motivational Methods And Theory»…………………….…………..56
PROJECT WORK………………………………………...……………………59
TEST…………………………………………………………………................59
VII.MULTILEVEL MARKETING & PYRAMIDING
UNIT 1 «The Bottom Line About Multilevel Marketing Plans»………………60
UNIT 2 «Pyramid Schemes»………………………………………..………….62
UNIT 3 «Multilevel Marketing Plans»……………………………………..…..64
PROJECT WORK……………………………………………………...………66
TEST……………………………………………………………………………67
VIII.SELF-PRESENTATION
UNIT 1 «Key Rules For Writing Successful Resume/CV»……………………68
UNIT 2 «Job Interviews: Plan Your Appearance To Make A Great First Impression»…....................................................................................................70
UNIT 3 «Is Your Style The Right Fit For the Job You’re After? »……………72
PROJECT WORK……………………………………...………………………74
TEST……………………………………………………………………………74
IX.TIME MANAGEMENT
UNIT 1 «Some Time Saving Tips»………….…………………………………75
UNIT 2 «Spend Your Time Wisely»…………………………………………..77
PROJECT WORK……………………………………………………………...79
TEST…………………………………………………………………………...79
REFERENCE LIST…………………………………………………………..80
ПРЕДИСЛОВИЕ
Пособие предназначено для аудиторной и самостоятельной работы студентов экономических специальностей, обучающихся по магистерским программам по курсам «Деловой иностранный язык» и «Иностранный язык в профессиональной сфере». Обучение по магистерской программе требует усвоения специальной лексики на английском языке, совершенствования навыков просмотрового и детального чтения текстов профессиональной направленности, что в свою очередь, обеспечивает широкий доступ к научным и публицистическим материалам на английском языке при подготовке магистерской диссертации.
Аудиторная и самостоятельная работа ориентирована также на подготовку студентами самостоятельных публикаций, составление списка ключевых слов и аннотаций, что также может оказать значительную помощь в научной работе аспирантов и преподавателей вузов экономических специальностей.
Во вводной части пособия представлен материал, направленный на изучение обучающимися основ академического чтения, письма и представления научно-публицистического материала.
В пособии представлены 9 профессионально-ориентированных тем, в каждую из которых включены 2-4 тематических раздела.
Тематические разделы (Unit) состоят из оригинальных специальных текстов, имеющих аутентичное происхождение, что позволяет соприкоснуться обучающимся с неадаптированными текстами, имеющими непосредственное отношение к получаемой специальности. В каждый раздел включены упражнения на изучение лексического материала, задания по работе с текстом, дискуссионные вопросы. Тексты для чтения сопровождаются системой упражнений, направленных на освоение специальной лексики, понимание текста, повторение грамматики.
После каждой темы в пособии предложены творческие задания на закрепление и тесты для контроля уровня освоения и понимания изученного материала.
Основными задачами пособия являются: обучение магистрантов навыкам спонтанной речи, работы в группе, проведения самостоятельного исследования по предложенной теме, составления и представления проведенного исследования, обсуждения проблемы, высказывания собственной и сторонней точки зрения, аргументирования. Материал пособия был подобран с учетом образовательных и научных интересов студентов экономических специальностей, обучающихся по магистерской программе.
Автор пособия надеется, что оно поможет студентам успешно овладеть материалом, окажет помощь в подготовке магистерской диссертации и станет верным спутником в дальнейшей научной деятельности.
ACADEMIC READING,
WRITING AND SPEAKING
UNIT 1
Academic Reading
Summary in nonfiction. Nonfiction summaries serve to familiarize the reader with the subject matter of an entire work in a short space of time. They are written in a balanced and objective way, mirroring the genre’s aim to portray actual events from the author’s point of view. Generally, nonfiction summaries do not offer analysis or assessment.
Summarizers use their own words to write the shortened versions and draw on the original make-up of the pieces to structure the distillations. They exclude superfluous examples, descriptions and digressions. The opening sentence should introduce the topic, and the final sentence should sum up the theme, taking into account the knowledge gained from the body of the text. In recent years, a summarizing industry has sprung up. Shorter, more concise nonfiction summaries are called abstracts. They are approximately five pages, thus longer than scientific abstracts.
Text Potential
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UNIT 2
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Academic Writing
UNIT 3
Academic Speaking
A. Questioning
1. planning the questions to be asked
2. writing out the key questions
3. wording questions appropriately
4. asking concise and specific questions
5. using peers’ existing knowledge
6. asking relevant questions
7. asking questions in a logical order
8. varying the manner of asking questions
9. asking questions in a non-threatening manner
10. allowing enough time for trainees to think
11. rephrasing questions for clarification
12. following-up on answers
B. Preparation and delivery
1. mastering the topic
2. preparing notes
3. practicing or rehearsing
4. recording oneself
5. getting feedback from others
6. making sure you can be seen
7. speaking in a clear and well-modulated voice
8. maintaining eye contact
9. using natural and communicative gestures
C. Providing input
1. stating the objectives and/or focus of the topic
2. using visuals and other aids appropriately
3. using handouts appropriately
4. using appropriate language (not too technical)
5. including only essential information
6. presenting points in a logical order
7. giving examples to concretize ideas
8. using humor, anecdotes an analogies to clarify and liven up the ideas
9. linking ideas constantly
10. repeating and reinforcing the main points
11. closing clearly with a re-iteration of the focus of the topic
Your Topic
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I. WORLD OF BUSINESS
UNIT 1
Lead in
§ What forms of business do you know?
§ Do you know special terms for them in English?
§ Are there any differences between state and private types of business? Name them.
§ What type of business do the company you work in use?
Discussion
§ Divide in groups of three.
§ Think of advantages and disadvantages of working in state and private company; in multinational and family company; in big team and working on your own.
§ Discuss the ideas in group.
Vocabulary
§ Read and translate new words and expressions using a dictionary.
Pre-Reading task
Scan the text and find definitions of given types of business. Read them aloud.
Reading
Read and translate the text.
Forms Of Business
Sole Trader. Oldest, simplest, most common form of business easy to set up enterprise. A sole trader exists where a single person owns a business. This is very common form of organization. Over recent years, the number of sole traders has grown significantly. There are several reasons for this trend including more opportunities to work for firms on consultancy basis and government support for self-employment. Most sole traders work on their own. Initial capital – savings or borrowed. Very common in retailing, service trades. Advantages: easy to set up with little capital and few legal formalities; the owner controls the business – quick decision making; personal contact with customers; all profits belong to owner; satisfaction, motivation, interest in “Working for yourself”; business affairs are private – except far tax returns. Disadvantages: unlimited liability for any loss or debts incurred: owner is responsible or liable; cannot “Buy in bulk” and enjoy “Economies of scale”; expansions limited by available capital; division of labor is difficult; continuity is a problem.
Partnership. The minimum membership is two partners and the maximum twenty. Must be at least one general partner who is fully liable for all debts and obligations of the practice. “Sleeping partner” are not active. Partnership exist mainly in the professions – doctors, lawyers, accountants and surveyors frequently run their organization in the form of partnership. Partnerships normally operate in local or regional markets, though advanced in information technology are allowing many professions to offer their services more widely. Advantages: easy to set up; more capital with extra partners; division of labor – specialization; responsibility can be shared e.g. long working hours reduced. Disadvantages: partners have unlimited liability; disagreement can cause problems – no sole decision – maker or owner; lack of capital may still hinder expansion; profits must be shared among all co-owners; problem of continuity.
Companies. A company is defined as an association of persons that contributes money (or equivalent value in goods and assets) to a common stock, employ it in some trade or business, and share the profit or loss arising out of that business. A company has a separate legal identity form its members and can sue in its own name. There are two types of company: public companies and private companies. Both require minimum two shareholders, and there is no upper limit on the number of shareholders. All companies enjoy the benefit of limited liability. Capital is raised by selling shares.
Private limited companies. Shares can be transferred privately. All must agree. Private limited companies are suitable for small and medium-sized operations. This type of business organization is particularly suitable for family firms and for small enterprises involving just a handful of people. Private limited companies find it easier to attract capital because investors have the benefit of limited liability and this access to finance makes it simpler for the business to grow. Advantages: shareholders have limited liability; more capital can be raised; control of company held within the firm; shares are transferable. Disadvantages: profit are shared out among more people; legal procedures involve time; not allowed to cell shares to the public; restricts amount of capital raised; difficult to find a buyer if shareholder wishes to “leave”.
Public limited company. The second type of limited company tends to be larger and is called a public limited company. There are about 1.2 million registered limited companies in the UK, but only 1 per cent of them are public limited companies. However they contribute with far more to national output and employ far more people than private limited companies.
Co-operatives. Co-operatives are organized on a regional basis. Members can purchase shares and each member has one vote at the Annual General Meeting, no matter how many shares are owned. Members elect a board of directors who appoint managers to run day to day business. The Co-operative is run in the interests of its customers and part of any surplus is distributed to members as dividend. Shares are not sold on the stock exchange, which limits the amount of money that can be raised.
Charities. Charities are organizations with very specialized aims. They exist to raise money for “good” causes and draw attention to the needs of disadvantaged groups in society. They also rise awareness and pass comment on issues, such as cold weather payments, which relate to the elderly. Charities rely on donations for their revenue. They also organize fund raising events such as fetes, jumble sales, sponsored activities and ruffles. A number of charities run business ventures. Charities are generally run according to business principles. They aim to minimize costs, market themselves and employ staff. Most staff are volunteers, but some of the larger charities employ professionals. In the larger charities a lot of administration is necessary to deal with huge quantities of correspondence and handle charity funds. Provided charities are registered, they are not required to pay tax. In addition, business can offset any charitable donations they make against tax. This helps charities when raising funds.
Franchises. A franchise is not a form of business organization as such, but a way of managing and growing a business. Franchising covers a variety of arrangements under which the owner of a business idea grants other individuals or groups to trade using that name or idea. However, it is important to realize that a franchise can trade as a sole trader, a partnership or a private limited company. The legal form of business that is chosen will depend on the capital needed, the degree of risk, the number of people having a stake in the franchise and the personal preferences of the owner. The person or organization selling the idea (the franchisor) gains a number of advantages from the process of franchising. The franchisor normally receives a share of the profits generated by the franchise. Usually the franchisee benefits by being granted rights to an exclusive territory and support from the franchiser in the form of staff training, advertising and promotion. Franchising is a cheap and quick way to set up your own business.
Work with the text
§ Make a plan, an outline or diagram of the text.
§ Present your ideas to the group.
§ Give examples of real companies using mentioned types of business.
Translate from Russian into English:
§ В последние годы значительно возросло число индивидуальных маклеров.
§ Партнерство существует в основном в таких профессиях как доктор, юрист, бухгалтер и инспектор – они часто организуют свою работу в форме партнерства.
§ Этот тип организации особенно подходит для семейного бизнеса и для небольших предприятий, имеющих достаточное количество людей.
§ Франчайзинг это не форма организации бизнеса, это способ его управления и расширения.
UNIT 2
Lead in
§ Want do you know about strategic planning?
§ Do you use strategic planning and just planning in your business and daily life?
§ Do you think strategic planning is necessary for success in business? Why?
§ What steps and rules of strategic planning can you name?
Discussion
§ Divide in groups of three.
§ Think of a really existing company or the company you work in.
§ Give examples of strategic planning.
Vocabulary
§ Read and translate new words and expressions using a dictionary:
Pre-Reading task
Scan the text. Give headings to each paragraph. Make an outline of the text.
Reading
Read the text attentively and answer the question of the title.
What Is Strategic Planning?
Strategic planning is a management tool. As with any management tool, it is used for one purpose only: to help an organization do a better job – to focus its energy, to ensure that members of the organization are working toward the same goals, to assess and adjust the organization’s direction in response to a changing environment. In short, strategic planning is a disciplined effort to produce fundamental decisions and actions that shape and guide what an organization is, what it does, and why it does it, with a focus on the future.
A word by word dissection of this definition provides the key elements that underlie the meaning and successof a strategic planning process.
The process is strategic because it involves preparing the best way to respond to the circumstances of the organization’s environment, whether or not its circumstances are known in advance; nonprofits often must respond to dynamic and even hostile environments. Being strategic means being clear about the organization’s objectives, being aware of the organization’s resources, and incorporating both into being consciously responsive to a dynamic environment.
The process is about planning because it involves intentionally setting goals (i.e., choosing a desired future) and developing an approach to achieving those goals.
The process raises a sequence of questions that helps planners examine experience, test assumptions, gather and incorporate information about the present, and anticipate the environment in which the organization will be working in the future.
Finally, the process is about fundamental decisions and actions because choices must be made in order to answer the sequence of questions mentioned above. The plan is ultimately no more, and no less, than a set of decisions about what to do, why to do it, and how to do it. Because it is impossible to do everything that needs to be done in this world, strategic planning implies that some organizational decisions and actions are more important than others – and that much of the strategy lies in making the tough decisions about what is most important to achieving organizational success.
The strategic planning can be complex, challenging, and even messy, but it is always defined by the basic ideas outlined above.
Work with the text
§ Find words with the opposite meaning to the words in bold.
§ Retell the text to your peer using the outline you have made.
Translate from Russian into English:
§ Как и многие другие приемы, стратегический менеджмент служит одной цели – помочь организации выполнять работу лучше.
§ Процесс является стратегическим, так как включает подготовку наилучшего способа реагирования на обстоятельства среды организации, во всяком случае, обстоятельства известные заранее; некоммерческие фирмы часто должны реагировать на динамические или даже враждебные среды.
§ Процесс является планированием, поскольку он включает преднамеренное устанавливание целей и разработку методов достижения этих целей.
§ План – в конце концов, ни больше инее меньше чем набор решений о том, что делать, почему, для чего делать это, и как нужно это делать.
§ Стратегическое планирование может быть сложным, вызывающим, и даже беспорядочным, но всегда соответствует основным идеям описанным выше.
UNIT 3
Lead in
§ What kinds of employee incentives do you know?
§ What is the best incentive for you personally?
§ What incentives does your employer use?
Discussion
§ Divide into groups of four.
§ Think of a program that will perfectly stimulate employees to do the best in their job.
§ Prepare a kind of presentation.
§ Present your ideas to your group.
Vocabulary
§ Read and translate new words and expressions using a dictionary.
Reading
§ Divide the text into three parts, read them in groups of four;
§ Retell every part to the entire group;
Tree Common Misconceptions
About Employee Incentives
A.
Having good intentions is unfortunately not enough at all to make employee incentives work for your company. If you want to spend your money on a truly worthwhile cause, do make sure first that you’re not suffering from any misconceptions about employee incentives.
Misconception 1: Money Makes the World Go Round
And maybe it does, but not all the time. True enough, surveys will frequently show that employees desire financial incentives more than non-financial ones while employers believe otherwise. Who do you think is right?
You might think that it’s what employees believe that counts but in reality, the employers have it right. It’s undeniable that money has the power of changing people’s perspective…but once the money’s on their hands and spent for whatever reason, they lose motivation immediately after that.
When choosing and giving out employee incentives, always make sure to do what you can to maximize on its benefits.
B.
Misconception 2: It’s All about What You Do
Many mistakenly believe that they have what it takes to motivate their employees. All they need is to research about the issues at hand, spend for the costs incurred, work hard on improving the incentive strategies they devise, and everything will soon lead to the results they desire.
But in the end, you’ll soon find out that no matter what you do, there are just some people who don’t respond to the incentives that you’re offering. And it’s not because you’ve made a mistake but simply because they just don’t want themselves to get motivated.
If you get confronted with such employees, make it a point to set up a one-on-one consultation with them. During that time, encourage them to open up and explain why they seem to lack ambition and drive. If the answers provided are unsatisfactory, then you have a tough decision to make: take the time and effort to change their attitude or let them go?
C.
Misconception 3: Incentives are Always the Answer
That is patently untrue. No matter how much incentive you’re giving your employees, none of them will work if there’s something wrong with the person – or the job itself.
Review your recruitment and placement strategies and rectify whatever needs rectifying to ensure that you’ll always end up with the most suitable employee for the job.
And to close this topic, always remember that the best employee incentives are those that come directly from your heart. If your employees are aware that you’re giving them incentives not just because you want to increase your profit but also because you truly want to thank them in the best possible way, they’ll surely appreciate whatever employee incentives you end up devising.
Work with the text
§ Answer the questions: What are the three main misconceptions about employee incentives? Is salary the most important incentive? Why? Should you use your intuition to give the best incentive?
§ Make up short dialogues using the terms from the text.
Translate from Russian into English:
§ Иметь хорошие намерения – к несчастью не достаточно для того, чтобы дать служащим стимулы работать на вашу компанию.
§ При выборе и подаче служащему стимулов убедитесь, что вы делаете все, что можете, чтобы увеличить свой доход.
§ Если вы разошлись в этих вопросах во мнениях с сотрудником, обсудите с ним проблему конфиденциально.
§ Наилучшие стимулы служащего – те, которые исходят непосредственно из вашего сердца.
PROJECT WORK
§ In groups of three make a kind of survey among your group mates, friends, relatives, tutors and others. Ask them next questions:
o What examples of stimulating the employees do they know?
o What advantages and disadvantages of stimulating the employees can you name?
o What are the reasons for stimulating the employees?
§ Analyze the results and prepare a report on the topic.
§ Compare and discuss the results.
§ Write special terms to your personal glossary.
TEST
1. Having good intentions is ……….
a) very good.
b) unfortunately not enough at all to make employee incentives work for your company
c) not useful for private business.
2. Surveys will frequently show that ……….. .
a) Money Makes the World Go Round
b) Employees wish non-material incentives
c) employees desire financial incentives more than non-financial ones while employers believe otherwise state
3. Strategic planning is a management tool that is used for one purpose only: …….. .
a) to get high benefit.
b) to help an organization do a better job.
c) to recruit new employees.
4. There are two types of company: ……… .
a) state and private.
b) legal and illegal.
c) public and private.
5. A franchise is.……… .
a) a form of business.
b) not a form of business organization.
c) a type of charity organization.
6. Review your recruitment to ensure……….
a) you did everything possible for your employees.
b) that you’ll always end up with the most suitable employee for the job
c) they are satisfied with your activity.
II.BUSINESS STRATEGIES
UNIT 1
Lead in
§ What problems with a customer can businessmen meet?
§ What ways of such problems solving can you suggest?
§ How can you use strategic thinking and strategic goals in this case?
Discussion
§ Divide in groups of three and think of strategic goals examples.
§ Try to forecast the results of strategic goals and thinking absence.
§ Discuss your ideas in group.
Vocabulary
§ Read and translate new words and expressions using a dictionary.
strategic goals, vice versa, property, constancy, sale in a web, purchase, total amount, transmit, naïve, to deliver goods, relationships, company mission, maintain, investor, supplier, implement, justify
§ Try to give their definitions in English.
§ In pairs in turn make sentences using expressions from the list above.
Pre-Reading task
§ Scan the text and try to forecast the main ideas of it.
§ Find international words in the text.
Reading
Read and translate the text.
And Business Processes
To be able to make changes to a business process, it is necessary to understand how the process supports the strategic goals of the business and how changes to the goals may impact the process and vice versa. This paper explains the relations between strategic goals and business processes by adopting a regulation point of view. This point of view holds that the main property of business systems is their constancy. A business achieves constancy by regulating its relationships with other business entities. We model this constancy with maintenance goals which could be seen as a more precise definition of strategic goals. We then linkthese maintenance goals to achievement goals that correspond to operational goals.
The set of activities composing a process and their order can be modeled with a set of rules. For example, the business process of a sale in a web based mail order business can be defined with the following rules:
1. If customer wishes to purchase goods then enable customer to selectgoods;
2. If customer has finished to select goods then compute the total amount of the sale;
3. When total amount is computed transmit total to customer and wait for payment to be received;
4. If payment received then verify payment;
5. If payment ok then deliver goods to customer.
In general this collection of rules is simply viewed as achieving the goal of selling the goods to the customer, but the rules tell us much more if we analyze them in terms of the relationships they regulate.
First of all, the rules name a customer so we know that we have a relationship with a customer. However, the rules regulate other relationships. To see which ones, we can ask questions that seem very naive in this simple example, such as: what is the goal of rules 2, 3, and 4? The obvious answer is: to insure that payment is received before the goods are delivered. But why is a payment needed? If the strategy of the business is to insure customer satisfaction, isn’t a good way to achieve this satisfaction to deliver goods for free? Obviously, customers would be satisfied to receive the goods for free, but we all know that in most cases this is not a good long term strategy for the business. The reason for this is also obvious. The business has other relationships than the customer that it needs to maintain in order to survive.
Some of these relationships are the employees, the investors and the suppliers, all of which need to get paid for their services or else they will abandon the business, which will not survive for long.
Since these relationships are so important to the business, we can assign the business the following (strategic) maintenance goals (this kind of goal usually appears in company mission statements):
1. Maintain good customer relationships;
2. Maintain good employee relationships;
3. Maintain good investors’ relationships;
4. Maintain good suppliers’ relationships.
The rules of the sale process also tell us some things about the beliefs of the business. As noted by Hammer in “Employee values and beliefs must be consistent with and support the design of the company’s business processes.” We extend this statement by noting that the business processes currently in place are motivated and consistent with current employee beliefs. These beliefs are often shared by most employees of the business and generally remain in tacit form rather than being explicitly defined (processes may be defined by managers but employees who implement them usually share the same beliefs as the managers). In the case of the sale process, we can therefore infer some of the business’s beliefs by analyzing the rules above, which yields the following list of beliefs:
1. Customers cannot be trusted to send payment after goods have been delivered (justifies that rule 5 is at the end of the list);
2. Customer payments may not be valid (justifies rule 4);
3. Customers trust the business to deliver the goods when payment has been received and verified (justifies rule 5).
These beliefs usually remain implicit in the definition of the business process but they justify the existence of rules. Another interesting point with the relations between the beliefs and the rules is that some rules are justified by severalbeliefs, such as rule 5 which is justified by beliefs 1 and 3. If either of these beliefs is proved wrong then either rule 5 makes the sale process inflexible because it is impossible to deliver the goods to the customer before the payment is received and verified, or rule 5 is downright unacceptable to customers. The business process can be changes so that goods can be shipped before the payment is received and checked.
Work with the text
§ Give synonyms to the words in bold.
§ Make a short plan of the text.
§ Retell it to your peer.
Translate from Russian into English:
§ Чтобы быть способным внести изменения в деловой процесс, необходимо понять, как процесс поддерживает стратегические цели дела и как изменения в цели может ускорить процесс и наоборот.
§ Бизнес достигает постоянства посредством регуляции взаимосвязи с другими деловыми субъектами.
§ Набор видов деятельности, который формирует бизнес процесс и его порядок может быть смоделирован инструкцией.
§ Ответ очевиден: для подстраховки оплата должна быть получена прежде, чем товары будут поставлены.
§ Некоторые из подобных взаимоотношений это - служащие, инвесторы и поставщики, которым нужно оплачивать их услуги или иначе они выйдут из дела, которое долго не просуществует.
§ Эти убеждения обычно всего лишь подразумеваются в определении делового процесса, но они оправдывают существование правил.
UNIT 2
Lead in
§ Is there anything to change in the business process in the organization you work in?
§ Can these changes influence the profit of your organization?
§ Who is usually in charge of this activity?
Discussion
§ Think and discuss of how we can model new strategic move.
§ Discuss your ideas in small groups.
§ Present your ideas.
Vocabulary
§ Read and translate new words and expressions using a dictionary.
Pre-Reading task
Scan the text and put in the missing words and expressions from the list above.
Reading
Read and translate the text.
Work with the text
§ Find a key sentence in every paragraph.
§ Translate them in written form.
§ Read them aloud.
Translate from Russian into English:
§ Эти изменение выведут бизнес на связь с другим типом клиента.
§ Чеки также почти никогда не использованы.
§ Клиенты могут быть заверены, что им нужно производить оплату после того, как товар будет поставлен.
§ Проверьте, получена ли оплата и отправьте клиенту напоминание, если оплата не получено по прошествии n-количества дней.
UNIT 3
Lead in
§ Do you think it is good to share your responsibilities or it is better to be responsible for business alone?
§ Do your managers or you use delegating?
§ Does it help to reduce stress level and to make business more productive?
§ Does delegating help to make a carrier move?
Discussion
§ Divide in groups of three.
§ Think of effective management methods.
§ Think of advantages and disadvantages of delegating responsibilities.
§ Give examples of delegating.
§ Discuss your ideas.
Vocabulary
§ Read and translate new words and expressions using a dictionary.
Pre-Reading task
Scan the text and answer the question: Are you secure enough to delegate effectively?
Reading
Read and translate the text.
Are You Secure Enough
To Delegate Effectively?
The key duties of a manager are to plan, organize, coordinate, set goals, establish priorities and think creatively. By delegating appropriate tasks to subordinates, a manager saves his time for these important tasks while saving his organization money by completing a job with a lower-paid employee. Additionally, delegation enriches the jobs below by providing challenge, authority and variety.
As an element in training, delegation enables subordinates to demonstrate their competence, win greater recognition and gain confidence. Rather than simply taking orders, subordinateslearn by thinking through a problem, establishing a plan and then performing the task.
When a manager develops a staff that demonstrates competence, his reputation grows. Talented staffers seek jobs in his or her department. Morale, respect and trust grow within a department as more gets done. Recognition follows and top management can see that with the staff fully trained, the manager is ready for promotion.
Barriers to Practice. Despite the potent benefits, there are dozens of reasons why managers don't delegate. Some are based on rational reservations. Others are more emotional or psychological. Here are some of the most common:
Lack of confidence in subordinates. This syndrome is best described as "What happens if something goes wrong?" Fearing unsatisfactory results, a manager may suspect a subordinate's judgment or ability to follow through.
Some managers are perfectionists. With such high personal standards, they know they can do the job better than a subordinate and fear substandard results. As a result, if they do delegate, they feel they must keep track of every detail.
Lack of self-confidence. Many managers, especially those recently promoted or hired, feel insecure. They may feel overwhelmed by their new responsibilities and fear their boss, peers or their subordinates. As a result, they regress to the familiar security and routineof the work they did before they became managers.
Poor definition of duties. A manager must have a clear understanding of her responsibilities and authority. She can delegate only those responsibilities that have been assigned to her. If she's unsure of her own power, she can hardly be prepared to delegate properly.
Work with the text
§ Give definitions to the words in bold.
§ Define the part of the speech.
§ Give examples from your own experience to justify the points of the text.
Translate from Russian into English:
§ Ключевые обязанности менеджера - планирование, организация, координация, постановка цели, расстановка приоритетов и творческое мышление.
§ В качестве элемента обучения, делегирование позволяет подчиненным продемонстрировать компетенцию, завоевать большее признание и завоевывать доверие.
§ Боясь неудовлетворительных результатов, менеджер может подозревать подчиненных в осуждении или неспособности оправдать ожидания.
§ Они могут почувствовать загруженность своими новыми обязанностями, бояться босса, коллег или подчиненных.
§ Если она неуверенна своей собственной силе, она едва ли может быть готова к тому, чтобы уполномочивать правильно.
PROJECT WORK
§ Make a kind of survey in the Internet or scientific journals on the topic.
§ Write a short article or report.
§ Present your report to your peers using a plan, scheme or diagram.
§ Discuss other presentations and make notes.
§ Write special terms to your personal glossary.
TEST
1. By delegating appropriate tasks to subordinates, a manager ……….
a) helps them to develop.
b) shows lack of self-confidence.
c) saves his time for important tasks.
2. The set of activities composing a process and their order can be modeled with ……….. .
a) a special graph.
b) state law.
c) a set of rules.
3. When a manager develops a staff that demonstrates competence, his reputation ………...
a) grows.
b) fails.
c) stays the same.
4. Monitor when payment has been received and send …………. to customer if not received after n days.
a) a letter of complain.
b) a reminder.
c) a bonus.
5. To be able to make changes to a business process, it is necessary to understand how the process supports ……… .
a) the strategic goals of the business.
b) customers.
c) executive managers.
6. Many managers, especially those recently promoted or hired,. ……….
a) are very satisfied.
b) do not do their best.
c) feel insecure.
7. A manager must ………….
a) work hard alone to develop business.
b) have a clear understanding of her responsibilities and authority.
c) hope for promotion.
III. MONEY AND BANKING
UNIT 1
Lead in
§ Do you agree that “Money makes the world go round”?
§ Why does money play such important role in our life?
§ What is more important than money?
Discussion
§ Divide in groups of three.
§ Try to analyze and count how much money a person needs for satisfactory life per month.
§ Discuss your ideas in group.
Vocabulary
§ Read and translate new words and expressions using a dictionary.
Pre-Reading task
§ Scan the text.
§ Divide it into 8 paragraphs.
§ Give headings to each paragraph.
Reading
Read and translate the text.
Money And Its Funсtions
Although the crucial feature ofmoney is its acceptance as the means of payment оr medium of exchange, money has other functions. It serves as a standard of-value, a unit of account, a store of value and a standard of deferred payment. We discuss each of the functions of money in turn. Money, the medium of exchange, is used in one-half of almost а exchange. Workers exchange labor services for money. People buy and sell goods in exchange for money. We accept money not to consume it directly but because it can subsequently be used to pay things we do wish to consume. Money is the medium through, which people exchange goods and services. To see that society benefits from a medium of exchange, imagine a barter economy. A barter economy has no medium of exchange. Goods are traded directly or swapped for other goods. In a barter economy, the seller and the buyer each must want something the other has to offer. Each person is simultaneously a seller and a buyer. In order to see a film, you must hand over in exchange a good or service that the cinema manager wants. There has to be a double coincidence of wants. You have to find a cinema where the manager wants what you have to offer in exchange. Trading is very expensive in a barter economy. People must spend a lot of time and effort finding others with whom they can make mutually satisfactory swaps. Since time and effort are scarce resources, a barter economy is wasteful. The use of monеу - any commodity generally accepted in payment for goods, services, and debts - makes the trading process simpler and more efficient. Money can also serve as a standard of value. Society considers it convenient to use a monetary unit to determine relative costs of different goods and services. In this function money appears as the unit of account, is the unit in which prices are quoted and accounts are kept. In Russia prices are quoted in roubles; in Britain, in pounds sterling; in the USA, in US dollars; in France, in French francs. It is usually convenient to use the units in which the medium of exchange is measured as the unit of account as well. However there are exceptions. During the rapid German inflation of 1922 - 1923 when prices in marks were changing very quickly, German shopkeepers found it more convenient to use dollars as the unit of account. Prices were quoted in dollars even though payment was made in marks, the German medium of exchange. Money is a store of value because it can be used to make purchases in the future. To be accepted in exchange, money has to be a store of value. Nobody would accept money as payment for goods supplied today if the money was going to be worthless when they tried to buy goods with it tomorrow. But money is neither the only nor necessarily the best store of value. Houses, stamp collections, and interest-bearing bank accounts all serve as stores of value. Since money pays no interest and its real purchasing power is eroded by inflation, there are almost certainly better ways to store value. Finally, money serves as a standard of deferred payment or a unit of account over time. When you borrow, the amount to be repaid next year is measured in pounds sterling or in some other hard currency. Although convenient, this is not an essential function of money. UK citizens can get bank loans specifying in dollars the amount that must be repaid next year. Thus the key feature of money is its use as a medium of exchange. For this, it must act as a store of value as well. And it is usually, though not invariably, convenient to make money the unit of account and standard of deferred payment as well.
Work with the text
§ Using your plan retell the text to your peer.
§ Name the main functions of money.
Translate from Russian into English:
§ Люди покупают и продают товары, используя деньги.
§ Каждый человек одновременно является и продавцом и покупателем.
§ Люди должны тратить много сил и времени на то, чтобы найти тех, с кем они могут совершить взаимовыгодный обмен.
§ Но деньги не являются единственной материальной ценностью.
UNIT 2
Lead in
§ How can a person get any kind of good?
§ What kinds of payment do you know?
§ What kind of payment and money do you use in your daily life?
Discussion
§ Divide in two groups.
§ Discuss advantages and disadvantages of using cash, cards and barter.
§ Present your ideas.
Vocabulary
§ Read and translate new words and expressions using a dictionary.
Pre-Reading task
Scan the text and put in the missing words and expressions from the list above.
Reading
Read and translate the text.
Different Kinds Of Money
In prisoner-of-war camps, cigarettes served as money. In the 19th …….. money was mainly gold and silver coins. These are examples of commodity money, ordinary goods with industrial uses (gold) and consumption uses (cigarettes), which also serve as a medium of exchange. To use a commodity money, society must either cut back on other uses of that commodity or devote scarce resources to producing additional ……… of the commodity. But there are less ……….. ways for society to produce money.
A token money is a means of payment whose value or purchasing power as money greatly exceeds its cost of production or value in uses other than as money.
A $10 note is worth far more as money than as a 3 x 6 inch piece of high-quality paper. Similarly, the monetary value of most ……… exceeds the amount you would get by melting them down and selling off the metals they contain. By collectively agreeing to use token money, society economizes on the scarce resources required to produce money as a medium of exchange. Since the manufacturing costs are tiny, why doesn't everyone make $10 notes?
The essential condition for the survival of ……… ………. is the restriction of the right to supply it. Private production is………….:
Society enforces the use of token money by making it legal tender. The …….. says it must be accepted as a means of…………..
In modern economies, token money is supplemented by IOU money.
An IOU money is a medium of exchange based on the debt of a private firm or ……………..
A bank deposit is IOU money because it is a debt of the bank. When you have a ……….. ………… the bank owes you money. You can write a cheque to yourself or a third party and the bank is ………… to pay whenever the cheque is presented. Bank deposits are a medium of exchange because they are generally accepted as payment.
Work with the text
Дата: 2016-09-30, просмотров: 182.
