04. Business English

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universitatea

"CONSTANTIN BRNCOVEANU"

P I T E T I

LIDIA SCURTU MIHAELA BURSUGIU

RAMONA CHIU ANDREEA STROIE

B U S I N E S S E N G L I S H

L I M B A E N G L E Z

P E N T R U A F A C E R I

Editura Independena Economic

2008


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Limba englez pentru afaceriContribuia autorilor:Scurtu Lidia: cap. 15, 16, 17, 22, 23, 26, 27, 28Bursugiu Mihaela: cap. 18, 19, 20, 21, 24, 25

Chiu Ramona: cap. 8, 9, 10, 11, 12, 13, 14Stroie Andreea: cap. 1, 2, 3, 4, 5, 6, 7

Editura Independena EconomicCalea Bascovului nr. 2A, Piteti

Tel./Fax: 0248/21.64.27

Editur acreditat de ctre C.N.C.S.I.S.

ISBN: 978-973-7732-83-5

Copyright Editura Independena Economic 2008Toate drepturile rezervate. Nici un fragment din aceast carte nu poate

fi reprodus, prin orice mijloace, fr permisiunea scris a Editurii.

Descrierea CIP a Bibliotecii aionale a RomnieiBusiness English : limba englez pentru afaceri/ Lidia

Scurtu, Mihaela Bursugiu, Ramona Chiu, AndreeaStroie. - Piteti : Independena Economic, 2008Bibliogr.ISBN 978-973-7732-83-5

I. Scurtu, LidiaII. Bursugiu, MihaelaIII. Chiu, RamonaIV. Stroie, Andreea

811.111:336

Tehnoredactare i procesare computerizat n laboratoarelede informatic ale Universitii Constantin Brncoveanu


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CUPRINS

Foreword ..........................................................................................7

U N I T 1 GLOBALIZATION AND COMPLEXITY.........................................9VOCABULARY.........................................................................11GRAMMAR...............................................................................11DISCUSSION...........................................................................12

U N I T 2 THE SECTORS OF ECONOMY ..................................................14VOCABULARY

.........................................................................15GRAMMAR...............................................................................16DISCUSSION...........................................................................16

U N I T 3 MANAGEMENT: AN ART OR A SCIENCE ? .............................18VOCABULARY.........................................................................20GRAMMAR...............................................................................20DISCUSSION...........................................................................21

U N I T 4

MARKETING ...............................................................................23VOCABULARY.........................................................................25GRAMMAR...............................................................................25DISCUSSION...........................................................................26

U N I T 5 TYPES OF COMPANIES.............................................................28VOCABULARY.........................................................................30GRAMMAR...............................................................................30DISCUSSION...........................................................................31

U N I T 6 WORK AND MOTIVATION..........................................................33VOCABULARY.........................................................................34GRAMMAR...............................................................................35DISCUSSION...........................................................................35

U N I T 7 PRODUCTION.............................................................................37VOCABULARY.........................................................................39GRAMMAR...............................................................................39DISCUSSION...........................................................................39


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U N I T 8 PRICING POLICY........................................................................41VOCABULARY.........................................................................42GRAMMAR...............................................................................43

DISCUSSION...........................................................................45U N I T 9

PROMOTIONAL TOOLS .............................................................47VOCABULARY.........................................................................49GRAMMAR...............................................................................49DISCUSSION...........................................................................49

U N I T 1 0 ACCOUNTING AND BOOKKEEPING ........................................52VOCABULARY.........................................................................54

GRAMMAR...............................................................................54DISCUSSION...........................................................................55

U N I T 1 1 THE BUSINESS CYCLE..............................................................57VOCABULARY.........................................................................58GRAMMAR...............................................................................58DISCUSSION...........................................................................59

U N I T 1 2 INFLATION AND DEFLATION....................................................61VOCABULARY.........................................................................63GRAMMAR...............................................................................63DISCUSSION...........................................................................64

U N I T 1 3 DISTRIBUTION WHOLESALE AND RETAIL ..........................66VOCABULARY.........................................................................68GRAMMAR...............................................................................68DISCUSSION...........................................................................70

U N I T 1 4 INTERNATIONAL TRADE...........................................................72VOCABULARY.........................................................................73DISCUSSION...........................................................................74

U N I T 1 5 HUMAN RESOURCES MANAGEMENT .....................................76VOCABULARY.........................................................................77DISCUSSION...........................................................................77


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U N I T 1 6 EMPLOYMENT FILE ...................................................................80VOCABULARY.........................................................................83GRAMMAR...............................................................................83

DISCUSSION...........................................................................84U N I T 1 7

JOB INTERVIEWS.......................................................................86VOCABULARY.........................................................................88GRAMMAR...............................................................................89DISCUSSION...........................................................................90

U N I T 1 8 INQUIRIES FOR GOODS ..........................................................92VOCABULARY.........................................................................94

DISCUSSION...........................................................................95U N I T 1 9

OFFERS.......................................................................................98VOCABULARY.......................................................................100DISCUSSION.........................................................................101

U N I T 2 0 ORDERS....................................................................................104VOCABULARY.......................................................................107DISCUSSION.........................................................................108

U N I T 2 1 COMPLAINT LETTERS, ADJUSTMENT LETTERSAND REMINDERS.....................................................................110VOCABULARY.......................................................................114DISCUSSION.........................................................................114

U N I T 2 2 FRANCHISING ..........................................................................116VOCABULARY.......................................................................117

GRAMMAR.............................................................................118DISCUSSION.........................................................................118

U N I T 2 3 LEASING ...................................................................................120VOCABULARY.......................................................................121DISCUSSION.........................................................................122

U N I T 2 4 INSTRUMENTS OF PAYMENT.................................................125VOCABULARY.......................................................................131

DISCUSSION.........................................................................132


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U N I T 2 5 METHODS OF PAYMENT.........................................................135VOCABULARY.......................................................................141DISCUSSION.........................................................................142

U N I T 2 6 BILLS OF LADING; WAY BILLS ..............................................146VOCABULARY.......................................................................148DISCUSSION.........................................................................148

U N I T 2 7 INSURANCE..............................................................................151VOCABULARY.......................................................................153DISCUSSION.........................................................................153

U N I T 2 8

MARINE INSURANCE...............................................................157VOCABULARY.......................................................................160DISCCUSION.........................................................................161

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

PUNCTUATION MARKS...........................................................168

BRITISH AND AMERICAN WEIGHTS AND MEASURES .......172

MODEL OF TESTS....................................................................173

BIBLIOGRAPHY........................................................................178


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Foreword

Limba englez pentru afaceri are ca scop familiarizareacursanilor cu elemente importante din limbajul economic i de afaceri.

Lucrarea conine un numr de 28 de uniti concepute istructurate astfel nct lexicul de profil i gramatica limbii engleze sfie fixate gradual i corect.

Fiecare capitol este subdivizat pe probleme de studiu,cuprinznd modele de scrisori i documente comerciale, vocabular iexerciii aplicative menite s formeze aptitudinile de comunicare nengleza de afaceri, oral i scris. Cursantului i se ofer posibilitateade a produce scrisori i documente comerciale proprii pe bazamodelelor i textelor studiate.

La sfritul crii gsim lista celor mai importante verbeneregulate, o list a abrevierilor, a unitilor de msur engleze iamericane, precum i modele de teste de evaluare care s vin nntmpinarea examenelor finale ale studenilor.

Cartea ajut la o mai bun nsuire a expresiilor ideomatice cunumeroase aplicaii n practic prin exerciii de traducere din i nlimba englez de afaceri.

Pe tot parcursul crii se insist pe folosirea lexicului i aexpresiilor n contact real de afaceri.

De asemenea sunt dezvoltate tehnici specializate de comunicaren vederea unui transfer natural, uor accesibil de informaii n limbaenglez de afaceri, comunicarea devenind astfel eficient i operativ.

Autoarele


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U N I T 1

GLOBALIZATION AND COMPLEXITY

Globalization is an enormously interactive, social process, in which people,albeit often unwittingly, increasingly interrelate through complexinternational financial and investment institutions, extensive trade andproduction networks, sophisticated modes of communication, all withinchanging global cultural and ethical parameters.Capital is mobile: investors can move funds around the globe in search ofthe highest economic return, with scant regard for national borders or

national needs. A complex, global, social order is emergent, as nation statesare integrated into the international economy, in spite of local socialpriorities being subordinated to global economic exigencies. This order isdynamic and unpredictable, though not chaotic; patterns of relationshipsemerge, although there is no apparent trend towards a steady state, orsomething which might be called equilibrium.Globalization is one of the key forces that are reshaping the world ofbusiness today. It continues to be clouded by controversy however.Supporters of globalization consider it the answer to the social, political, andeconomic ills afflicting developing countries. Critics, on the other hand,argue that it creates inequalities, causes hundreds of jobs to be lost, andopens up businesses to many new risks. But whether globalization is, in fact,a threat or an opportunity, business executives around the world agree that itis here to stay. The only issue that concerns them is no longer whether toaccept or reject it, but rather how they could adapt to it. As globalizationbecomes widely recognized not only as an important business issue but atop priority as well, support for it gets stronger through the years.

Economic globalization is not just a present-day phenomenon. It becamecommon practice several years back when organizations armed withadvanced technology, made transacting business globally easier and quicker.Today, the global business environment is substantially more complex thanbefore and accepting that complexity is an inevitable by-product ofglobalization, it is obvious that, as businesses get bigger, they really getmore complex and they are going to need more management and moresystems of management. So, in some ways, complexity is inevitable.Business complexity is increasing due to two kinds of factors: commercial

activities that can be managed and add value to a business, and otherfactors, such as geopolitical forces, that can only be influenced but not


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managed. Most CEOs have taken the following commercial actions (inorder of importance) over the past three years to create value: launching ofnew products and services, extending operations to new territories, formingstrategic alliances, outsourcing functions to third parties, localizing business

processes, engaging in mergers and acquisitions, and offshoring functionswithin the organization. And since these commercial activities are alsoconsidered to add value, most CEOs have done more than one.For organizations seeking to grow through globalization, dealing with andmanaging complexity are top priorities and as managing complexity hasbecome the order of the day among CEOs, the capability to do this is now amuch sought-after quality.Notwithstanding the many challenges to its pursuit, CEOs continue to seeglobalization as one of the primary avenues for successfully growing a

business or achieving economic development. As such, support for it isgetting stronger. In fact, many CEOs express optimism that the integrationof economies around the world will have a positive impact on theirorganizations while remaining realistic about its potentials and risks.As to the issue of rising business complexity, CEOs believe that it is theresult of a blend of commercial activities and geopolitical forces. Managingthese factors must be on the list - preferably on top of it - of the things thatbusinesses going global should do.As a conclusion, the whole is bigger than the sum of the parts, a wholewhich becomes ever more diversified, qualitatively evolving towards greatercomplexity. And globalization, the process of integrating billions ofindividuals, each uniquely endowed with tastes and talents, through globalmarkets, can only serve to widen individuals possible choices. Progress isnot a reflection of globalization or localization, but mobilization. And actionto promote development and progress is not a question of controllingindividuals to compete within free markets, nor institutionally managingindividuals to co-operate within managed markets, but actively facilitating

people to organize and empower themselves to participate in the socialorganization to promote human dignity. The creative process of building anemerging, global society, to reflect changing human potentials. People needto act locally but think globally.


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VOCABULARYalbeit (conj.) = cu toate ca, desiunwittingly (adv.) = inconstient, involuntary, fara stiinta

scant (adj.) = rar, limitat, neinsemnatills (subst.) = nenorocireby-product (subst.) = produs secundarto emerge (verb) = a se ridica, a aparea, a reiesimerger (subst.) = absorbtie; fuziune (de societati etc.)acquisition (subst.) = achizitienotwithstanding (prep.) = in ciuda; (adv.) = cu toate acestea, totusipursuit (subst.) = urmarire; ocupatie; preocupareCEO = Chief Executive Officer

to outsource (verb) = the practice of contracting with an outsidecompany in order to provide a service or productthat otherwise might be too expensive,complicated, or time-consuming for theinstitution to do internally; to obtain componentsfor a product from sources outside the company;to have a service performed or a functioncompleted by others outside of a company.

Offshore = when used in this context, and whenreferring to a country, means a jurisdiction thatoffers financial secrecy laws in an effort toattract investment from outside its borders.When referring to a financial institution,"offshore" refers to a financial institution thatprimarily offers its services to personsdomiciled outside the jurisdiction of thecountry in which the financial institution is

organized.

GRAMMARThePresent Tense Simple is used for:

repeated actions and daily routines in the present:He goes to the office every day. permanent states:He worksin this factory. general truths and laws of nature:It rarely rainsin the desert.


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official programmes (trains, planes etc.):The plane to London takes offat 6.30. exclamations:Here comesthe manager! Here he comes!

sports commentaries, experiments/recipes, narration:Hill kicksthe ball and passesit to Dawson.I now mixeggs and flour and then I addsome water.So, the secretary tellshim .

DISCUSSIO1) Enlarge on:a) The definition of globalization.

b) What does mobile capital mean?c) What is the opinion of globalizations supporters?d) What are critics arguments against globalization?e) Enumerate some of the commercial actions taken by CEOs worldwide.

2) Fill in the blanks with suitable words from the box:

social, order, lives, how, society, though, complexity

Progress implies fulfilling human potentials, the realization of whichimproves peoples ; and development strategies are intended to change

modes of interaction, so as to facilitate progress and the fulfillment ofindividuals evolving potentials. When applied to the analysis of progressand development, theory has to explain why, even large numbers ofindividuals interact within a changing global, ordered patterns of socialbehaviour emerge and evolve. There is a social feedback mechanism, inwhich people learn, and choose to modify their activity to better fulfiltheir potentials within social parameters and processes of governance whichmaintain social .

3) Put the verbs in brackets in the Simple Present:a)I (think) he (be) right.b)They always (work) in the morning.c)He (run) the company very well.d)You (think) it (be) the best idea?e)Each of us (have) a business file on our desks.f)She (love) profitable stock.g)Water (boil) at 100 degrees C.h)Jones (run) down the pitch and (pass) the ball to Smith.

i)The train to Paris (leave) the station at 7.j)Where he (get) such saving ideas from?


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4) Translate into Romanian:What is the difference between Internationalization, Localization and Globalization ?The Localization Industry Standards Association (LISA) uses the following definitions:

Internationalization - designing and enabling a product for

international distribution and customer support.Localization - adapting a product so that it meets linguistic, content,cultural, and system requirements.Globalization- integrating localization as an enterprise-wide strategy.

Companies that adopt an Internationalization policy develop their products so thatthey can be sold worldwide with little or no change to the design and packaging.Localization is typically used to adapt existing products to new global markets.When Internationalization is not feasible, then companies look towards Globalization.

5) Translate the following into English:Globalizarea constituie, fr ndoial, marea sfidare a zilelor noastre. Cinenu particip la procesul globalizrii este pierdut. Dar, cum se poatesupravieui ntr-o economie supus globalizrii ? Pare destul de simplu: cineeste mai puternic, cine este mai rapid... . Globalizarea economiei nu este unproces nou, primele sale simptome aprnd cu mult timp n urm. Desigurc, n fazele sale incipiente, procesul nu a cunoscut amploarea din zilelenoastre. n evoluia sa, globalizarea a parcurs etape istorice distincte,devenind la sfritul secolului XX un conceptcheie.Lumea actual a afacerilor se sprijin pe expansiunea pieelor la nivel

global. Are loc astfel, trecerea treptat de la economia internaional laeconomia global. Principalii actori ai acestei noi economii, o economieinterconectat, devin corporaiile transnaionale. Amplificarea idiversificarea relaiilor economice internaionale de dup ncheierea celeide-a doua conflagraii mondiale au permis n special celor mai dezvoltateri capitaliste s realizeze o expansiune economic semnificativ, avndcorporaiile transnaionale drept vectori ai reprezentrii intereselor lor.

6) Explain the following proverbs on globalization:

You dont help the worlds poor by dressing up in a turtle outfit andthrowing a stone through McDonalds window. You help them by gettingthem the tools and institutions to help themselves. Thomas L. Friedman(New York Times columnist)

People dont change when you tell them there is a better option. Theychange when they conclude they have no other option. MichaelMandelbaum (Professor of American Foreign Policy at The Johns HopkinsSchool of Advanced International Studies in Washington, DC)


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U N I T 2

THE SECTORS OF ECONOMY

A nations economy can be divided into various sectors to define the proportionof the population engaged in the activity sector. This categorization is seen as acontinuum of distance from the natural environment. The continuum starts withthe primary sector, which concerns itself with the utilization of raw materialsfrom the earth such as agriculture and mining. From there, the distance from theraw materials of the earth increases.Primary SectorThe primary sector of the economy extracts or harvests products from the earth.

The primary sector includes the production of raw material and basic foods.Activities associated with the primary sector include agriculture (bothsubsistence and commercial), mining, forestry, farming, grazing, hunting andgathering, fishing, and quarrying. The packaging and processing of the rawmaterial associated with this sector is also considered to be part of this sector.In developed and developing countries, a decreasing proportion of workersare involved in the primary sector. About 3% of the U.S. labor force isengaged in primary sector activity today, while more than two-thirds of thelabour force were primary sector workers in the mid-nineteenth century.

Secondary SectorThe secondary sector of the economy manufactures finished goods. All ofmanufacturing, processing, and construction lies within the secondarysector. Activities associated with the secondary sector include metalworking and smelting, automobile production, textile production, chemicaland engineering industries, aerospace manufacturing, energy utilities,engineering, breweries and bottlers, construction, and shipbuilding.Tertiary SectorThe tertiary sector of the economy is the service industry. This sector providesservices to the general population and to businesses. Activities associated withthis sector include retail and wholesale sales, transportation and distribution,entertainment (movies, television, radio, music, theatre, etc.), restaurants,clerical services, media, tourism, insurance, banking, healthcare, and law.In most developed and developing countries, a growing proportion ofworkers are devoted to the tertiary sector. In the U.S., more than 80% of thelabor force are tertiary workers.Quaternary SectorThe quaternary sector of the economy consists of intellectual activities.Activities associated with this sector include government, culture, libraries,

scientific research, education, and information technology.


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Quinary SectorSome consider there to be a branch of the quaternary sector called thequinary sector, which includes the highest levels of decision making in asociety or economy. This sector would include the top executives or

officials in such fields as government, science, universities, nonprofit,healthcare, culture, and the media.An Australian source relates that the quinary sector in Australia refers todomestic activities such as those performed by stay-at-home parents orhomemakers. These activities are typically not measured by monetaryamounts but it is important to recognize these activities in contribution tothe economy.Formal & Informal SectorsEconomic activities declared to the government make up the formal sector

of the economy. Undeclared economic activity makes up the informal(shadow) sector of the economy.Traditional & Modern SectorsThe Traditional sector refers to established age-old procedures egagriculture methods and common land ownership.The Modern sectorrefers to a system based on specialisation, commuting,use of latest technologiesMany urban areas in developing countries are dualistic:- Modern formal activity exists side by side with large informal sector:- Traditional manufacturing may exist next door to modern manufacturing;- Commercial farms may exist alongside subsistence family holdings.Urbanisation occurs when an increasing proportion of the population live incities, towns or suburbs. Cities are attractive to potential migrants becausethey offer the prospect of:- Higher standards of living;- Access to a well-developed infrastructure eg health and education;- Geographically proximate market for products, labour, and capital.

VOCABULARYto harvest (verb) = a secera, a recoltasubsistence (subst.) = trai, existentato graze (verb) = a paste, a pasunato quarry (verb) = a extrage (pietre etc.) dintr-o carierato smelt (verb) = a topi (un minereu); a separa prin topire un metalretail (subst.) = vanzare cu amanuntul

wholesale (subst.) = vanzare en-gros


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quaternary (adj.) = cuaternarhomemaker (subst.) = gospodar; stapanul caseito commute (verb) = a schimba un lucru cu altul, a inlocuicontinuum (subst.) = smth. that is the same throughout or consists

of a series of variations or of a sequence ofthings in regular orderquinary (adj.) = referring to a group of five, fivefold, the

number five

GRAMMARThe Present Tense Continuousis used for:

actions taking place now:

Helen is taking down notes in her agenda now/right now/at the moment. actions that one has already arranged to do in the near future, especiallywhen the time and place have been decided (personal programmes):

Mr.Brown is visiting the new headquarters this afternoon/thisSaturday/tonight/today. temporary actions:I usually go to work by car, but today/this week/these days I am walking. actions that happen too often and annoy the speaker:Yourealways/forever forgettingto pay the bills.

Youreforgettingto pay the bills all the time. changing or developing situations:More and more fields are developingdue to modern technology.

DISCUSSIO

1) Enlarge on:a)What types of activities are included in the primary sector?b)What types of activities lie within the secondary sector?c)What types of activities are specific to the tertiary sector?d)What are the activities in the quaternary sector?e)What activities does the quinary sector comprise?f) What is the difference between the formal and informal sector?g)What do the traditional and modern sectors refer to?

2) Find synonyms to the following words:

sector, continuum, to develop, labour, field, method, tertiary, to commute,

subsistence, proximate


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3) Ask questions to which the words in italics are the answers:Model: They are cleaning the office.

Whatare they cleaning?a) We are working on an interesting project.

b) Everyoneis helping in this initiative.c) She is dusting the furniture in the managers office.d) They are sellingnew shares.e) My brother is now heading for the newly-built factory.f) The workers are going on a strike today.

4) Translate into Romanian:In the context of economy sectors, development implies structuraltransformation. The relative importance of agriculture in the economy

declines, ie there is a transition from peasant to commercial farming.However, many countries place a high value on preserving a traditional wayof farming life (such as the EU). Countries with a comparative advantage inagriculture should benefit from specialisation, especially in high valueadded products; eg Bulgaria and Chile have benefited from becoming wineproducers exporting around the world.Structural change occurs when the relative share of GDP and employment accountedfor by the primary, secondary and tertiary sectors change. Structural change results ina change in GDP and employment figures for a given sector or industry.

The process of development requires structural change. Typically economiesdevelop by shifting resources from agriculture & mining to manufacturing andeventually into the tertiary (services) sector. Anyway, economic growth requiresstructural change in the economy, eg a movement of workers from low valueadded agricultural sector to higher value added manufacturing and service sectors.

5) Translate the following into English:A. Economia romneasc se aliniaz din ce n ce mai evident la standardelepieelor internaionale, tot mai multe companii din variate sectoare

economice trecnd printr-un amplu proces de retehnologizare ce presupunemodernizarea sistemelor, inclusiv a celor informatice.B. Dintre domeniile economice analizate si propuse a fi locomotive aleexporturilor romanesti, singurul caruia i se prevad in prezent sanse reale dereusita este cel al industriei de software.C. Sectorul IMM din Romania este poate cel mai afectat, datorit orientriireduse ctre activiti productive.

6) Discussion:

If you have a job, what is the economic sector it belongs to?Speak about the sector of economy you would like to work in.


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U N I T 3

MANAGEMENT: AN ART OR A SCIENCE ?

Good managers are made not born. If you have the desire and willpower,you can become an effective manager. Good managers develop through anever ending process of self-study, education, training, and experience.Imagine you are a manager.To inspire your workers into higher levels of teamwork, there are certainthings you must be, know, and, do. These do not come naturally, but areacquired through continual work and study. Good managers are continually

working and studying to improve their management skills; they are NOTresting on their laurels.Management is a process by which a person influences others to accomplishan objective and directs the organization in a way that makes it morecohesive and coherent. Managers carry out this process by applying theirleadership attributes, such as beliefs, values, ethics, character, knowledge,and skills.

Some personality traits may lead people naturally into leadership

roles. This is the Trait Theory. A crisis or important event may cause a person to rise to theoccasion, which brings out extraordinary leadership qualities in anordinary person. This is the Great Events Theory.

People can choose to become managers. People can learnmanagement skills. This is the Transformational Leadership Theory,the most widely accepted theory today.

Respected managers concentrate on what they are [be](such as beliefs andcharacter), what they know(such as job, tasks, and human nature), and what

they do (such as implementing, motivating, and provide direction). Peoplewant to be guided by those they respect and who have a clear sense ofdirection. To gain respect, they must be ethical. A sense of direction isachieved by conveying a strong vision of the future.To help you be, know,and do,follow these eleven principles of management:

1. Know yourself and seek self-improvement - In order to knowyourself, you have to understand your be, know,and do,attributes.Seeking self-improvement means continually strengthening yourattributes. This can be accomplished through self-study, formal

classes, reflection, and interacting with others;


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2. Be technically proficient- As a leader, you must know your job andhave a solid familiarity with your employees' task;

3. Seek responsibility and take responsibility for your actions -Search for ways to guide your organization to new heights. And

when things go wrong, they always do sooner or later - do not blameothers. Analyze the situation, take corrective action, and move on tothe next challenge;

4. Make sound and timely decisions - Use good problem solving,decision making, and planning tools;

5. Set the example- Be a good role model for your employees. Theymust not only hear what they are expected to do, but also see. Wemust become the change we want to see- Mahatma Gandhi;

6. Know your people and look out for their well-being - Know

human nature and the importance of sincerely caring for yourworkers;

7. Keep your workers informed - Know how to communicate withnot only them, but also seniors and other key people;

8. Develop a sense of responsibility in your workers - Help todevelop good character traits that will help them carry out theirprofessional responsibilities;

9. Ensure that tasks are understood, supervised, and accomplished- Communication is the key to this responsibility;

10.Train as a team - Although many so called leaders call theirorganization, department, section, etc. a team, they are not reallyteams...they are just a group of people doing their jobs;

11.Use the full capabilities of your organization - By developing ateam spirit, you will be able to employ your organization,department, section, etc. to its fullest capabilities.

BE/KOW/DO

BEa professional. Examples: Be loyal to the organization, perform selflessservice, take personal responsibility.BE a professional who possesses good character traits. Examples: Honesty,competence, candour, commitment, integrity, courage, straightforwardness,imagination.KOW the four factors of leadership - follower, leader, communication,situation.KOW yourself. Examples: strengths and weaknesses of your character,knowledge, and skills.


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KOWhuman nature. Examples: Human needs, emotions, and how peoplerespond to stress.KOWyour job. Examples: be proficient and be able to train others in their tasks.KOWyour organization. Examples: where to go for help, its climate and

culture, who the unofficial leaders are.DO provide direction. Examples: goal setting, problem solving, decisionmaking, planning.DOimplement. Examples: communicating, coordinating, supervising, evaluating.DOmotivate. Examples: develop moral and esprit in the organization, train,coach, counsel.

VOCABULARYto acquire (verb) = a dobandi, a-si formacohesive (adj.) = coeziv; legat; strans (inlantuit)trait (subst.) = trasatura (de caracter etc.)to convey (verb) = a transporta, a duce; a transmite, a exprimato strengthen (verb) = a (se) intari, a (se) fortifica, a (se) consolidasound (adj.) = sanatos; solid; logictimely (adj.) = oportunselfless (adj.) = altruiststraightforwardness (subst.) = abilitatea de a fi cinstit, deschis

proficient (adj.) = specialist la, priceput la (cu prep. in)esprit (subst.) = vioiciune, agerime

GRAMMARThe Present Perfect Simple Tense is used:

to describe an action which started in the past and continues up tothe present, especially with state verbs such as: have, like, know, beetc. in this case we often use for (duration) and since (starting

point):They have beenoffice colleagues for twenty years. for an action which has recently finished and whose result is visible

in the present:She has visiteda lot of foreign organizations. for an action which happened at an unstated time in the past:Peter has beento the Paris Business Conference four times. for an action which has happened within a specific time period,

which is not over at the moment of speaking:

The secretary has received three faxes today/thismorning/afternoon/week/month/year etc.


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The Present Perfect Continuous Tenseis used: to put emphasis on the duration of an action which started in the past

and continues up to the present:The broker has been speakingfor two hours.

for an action which started and finished in the past and lasted forsome time. The result is visible in the present:

He is tired. He has been typing a lot of financial reports. to express anger, annoyance, irritation:Who has been readingmy business papers?

DISCUSSIO1) Enlarge on:

a) What is management?b) Enumerate leadership attributes.c) Explain the eleven management principles briefly.d) What are the things a respected manager must be, know and do?

2) Find antonyms to the following words:

effective, to improve, to direct, clear, strong, courage, unofficial,selfless, to know

3) Use the Present Perfect Simple and Continuous with the verbs inbrackets:a) They (not see) their partners for ten days.b) I (to send) him various files many times.c) I never (meet) him before.d) We (wait) for the president since 4 oclock, but he (not come) yet.e) We (talk) about progress for hours. Everything (to change) a lot lately.f) She (register) the papers since two oclock. I think we should not disturb her.g) I am very tired. I (work) too hard in the past weeks.h) I already (apply) for this position twice.

4) Translate the following management quotes:

The most important quality in a leader is that of being acknowledged assuch. - Andre Maurois

You gain strength, courage and confidence by every experience in whichyou really stop to look fear in the face. You must do the thing you thinkyou cannot do. - Eleanor Roosevelt

Whoever is careless with the truth in small matters cannot be trusted withthe important matters. - Albert Einstein


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Dictators ride to and fro upon tigers which they dare not dismount. Andthe tigers are getting hungry. - Winston Churchill

Unless commitment is made, there are only promises and hopes... but noplans. - Peter Drucker

And when we think we lead, we are most led. - Lord Byron

5) Translate the following into English:Managementul modern a inceput sa implice un mare numr de abiliti iorientri, dintre care multe presupun abiliti legate de statistic, utilizareatehnologiei informaiei, contabilitate i matematic. Managementul a pusintotdeauna accent pe rezolvarea raional a problemelor i pe gndirealogic. Cum managementul implic n mod necesar oameni, este de o mareimportan deinerea de abiliti interpersonale abilitatea de a lucra cuindivizii, dar i cu echipe de lucru. Pentru a avea succes, un manager atrebuit tot timpul s ndeplineasc mai multe roluri i funcii.Domeniul managementului se intersecteaz cu un mare numr de discipline tiine sociale, logic, filozofie, matematic, tehnologie informatic, relaiiinternaionale, lingvistic i cultur. Pentru a fi bine pregtit, viitorulmanager are nevoie de un bagaj bogat de cunotine din domenii variate ide abiliti care s i permit s ndeplineasc o serie de funcii; toate acesteal vor ajuta s i mbunteasc din punct de vedere calitativ deciziile i

abilitile.6) DiscussionFind examples of good and bad managers and speak about their successand/or failure.


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U N I T 4

MARKETING

Marketing is a social and managerial function associated with the process ofresearching, developing, promoting, selling, and distributing a product orservice. Another definition, perhaps simpler and more universal, is this:"Marketing is the ongoing process of moving people closer to making a decisionto purchase, use, follow...or conform to someone else's products, services orvalues. Simply, if it doesn't facilitate a "sale" then it's not marketing."The practice of marketing is almost as old as humanity itself. Whenever a

person has an item or is capable of performing a service, and he or she seeksanother person who might want that item or service, that person is involved inmarketing. A market was originally simply a gathering place where people witha supply of items or capacity to perform a service could meet with those whomight desire the items or services, perhaps at a pre-arranged time.Such meetings embodied all the aspects of today's marketing methods,although in an informal way.Prior to the advent of market research, most companies were product-focused,employing teams of salespeople to push their products into or onto the market,regardless of market desire. A market-focused, or customer-focusedorganization instead first determines what its potential customers desire, andthen builds the productor service. Marketing theory and practice is justifiedon the belief that customersuse a product/service because they have a need, orbecause a product/service has a perceived benefit.Prior to the advent of market research, most companies were product-focused,employing teams of salespeople to push their products into or onto the market,regardless of market desire. A market-focused, or customer-focused,

organization instead first determines what its potential customers desire, andthen builds the productor service. Marketing theory and practice is justifiedon the belief that customersuse a product/service because they have a need, orbecause a product/service has a perceived benefit.These are the four Ps which are often referred to as the marketing mix:Product: The Product management and Product marketing aspects of

marketing deal with the specifications of the actual good or service, andhow it relates to the end-user's needs and wants.

Pricing: This refers to the process of setting a price for a product,

including discounts.


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Promotion: This includes advertising, sales promotion, publicity, andpersonal selling, and refers to the various methods of promoting theproduct, brand, or company.

Placementor distributionrefers to how the product gets to the customer;

for example, point of sale placement or retailing. This fourth P has alsosometimes been calledPlace, referring to where a product or service issold, e.g. in which geographic region or industry, to which segment(young adults, families, business people, women, men, etc.).

Advertising and promotionsBusinesses need to advertise for the following four main reasons: To raise customer awareness. To remind customers about existing facilities. To persuade customers to switch from rival businesses. To improve and maintain the image of the business.The ultimate aim of these points is to attract more customers. The placesbusinesses will advertise from depend on three things: Their audience. The size of their market. The size of their advertising budget.Forms of Advertising and their advantages and disadvantages:

PrintNewspapers and Magazines Advantages - A lot of information is known about the people who readcertain papers Disadvantages - Often not in colour and are static and silentPosters and Billboards Advantages - High visual impact for a long time and will be seen by a lotof different people Disadvantages - Are only seen for a few seconds by drivers and arevulnerable to weather and graffiti

Yellow Pages Advantages - Anyone looking in the Yellow Pages wants to buy Disadvantages - A lot of your competitors are on the same page you areMediaTelevision Advantages - Can reach millions of people all over the country Disadvantages - Very expensiveRadio Advantages - Cheaper than T.V, can be used to reach certain listeners

Disadvantages - Sound only, smaller audiences


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Cinemas Advantages - Very high visual and sound effect, captive audience Disadvantages - Are relatively expensiveCommunications

Leaflets and junk mail Advantages - Cheap to produce and distribute Disadvantages - Are easy to ignoreTelephone Advantages - Direct to customer, interactive, receive instant feed back. Disadvantages - Makes some customers feel their privacy has beenviolated, sometimes has negative results.Websites Advantages - High visual impact, interactive and can link directly to

buying the product, is relatively cheap Disadvantages - There is a lot of competition so getting people's attention

may be difficult, needs to be continually updated, can become expensive

VOCABULARYongoing (adj.) = continuu, neintreruptitem (subst.) = articol, obiectsupply (subst.) = aprovizionare, oferta, (pl.) provizii

to embody (verb) = a intruchipa, a incorpora, a cuprinde in sineprior (to) (adj.) = anterior, precedentadvent (subst.) = sosire, aparitieend-user (subst.) = utilizatorbrand (subst.) = marca fabricii; calitate; sortimentbusiness (subst.) = afaceri; magazin, companie; ocupatieleaflet (subst.) = frunzulita; manifest, pliantbillboard (subst.) = a flat surface on which advertising bills are posted

GRAMMARThe Past Tense Simple expresees:

an action or state wholly completed in the past:I metmy former supervisor yesterday/last week/two days ago etc. a past habit or a repeated action in the past:Marys husband drafted (= used todraft) a lot of reports when he was young.

The Past Tense Continuous expresses: an action in progress at a certain moment in the past:

This time yesterday the workers were listening to their leadersexplanations.


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two or more simultaneous actions in the past:They were visitingthe offices while Mr.Simons was preparing for themeeting. a repeated action in the past which annoys the speaker:

She wasalways complainingabout her work place.

DISCUSSIO1) Enlarge on:a) Give a definition of marketing.b) Are there any differences between past buying and selling and todaysmarketing?c) What are the first steps taken by a market-focused or customer-focusedorganization?d) What are the four Ps that make up the marketing mix?e) Why do businesses advertise?f) What forms of advertising are used in marketing?

2) Fill in the blanks with suitable words from the box:

generally, to ensure, all, company, customer, approach, no, activities

Most companies today have a customer orientation (also called focus).This implies that the company focuses its and products on customer

needs. there are two ways of doing this: the customer-driven approachand the product innovation .In the consumer-driven approach, consumer wants are the drivers of strategic marketing decisions. strategy is pursued until it passes the testof consumer research. In a product innovation approach, the pursuesproduct innovation, then tries to develop a market for the product. Productinnovation drives the process and marketing research is conducted primarily that a profitable market segment(s) exists for the innovation.

3) Fill in with the correct form of the Past Tense Simple or Continuous:

a) We (have) an interesting conversation when the telegram (arrive).b) She (not see) you when you (come) in because she (type) busily.c) The people (work) while the directors (visit) the building site.d) While I (analyse) the documents, the manager (talk) to the applicants.e) He (initiate) this transaction yesterday.f) She (leave) in a hurry as she (be) very late for the congress.g) My friends (find) a new job last month.h) We all (hope) for a financial change last year.


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4) Translate into Romanian:

Seven PsAs well as the standard four Ps, services marketing calls upon an extrathree, totalling seven and known together as the extended marketing mix.

These are:People: Any person coming into contact with customers can have an impacton overall satisfaction. Whether as part of a supporting service to a productor involved in a total service, people are particularly important because, inthe customers' eyes, they are generally inseparable from the total service. Asa result, they must be appropriately trained, well motivated and the righttype of person.Process: This means the processes involved in providing a service and thebehaviour of people, which can be crucial to customer satisfaction.

Physical evidence: Unlike a product, a service cannot be experienced beforeit is delivered, which makes it intangible. This therefore means that potentialcustomers perceive greater risk when deciding whether or not to use aservice. To reduce the feeling of risk, it is often vital to offer potentialcustomers the chance to see what a service would be like, by providingphysical evidence, such as case studies, or testimonials.

5) Translate into English:1. Un concept nou care implic dinamica relaiei dintre client i ntreprindere

este cel de orientare spre clieni. Orientarea spre clieni este o garanietiinific solid pentru succesul i meninerea unei ntreprinderi pe pia.

2.Marketingul relaional reprezint atragerea, dezvoltarea i pstrarearelaiei cu clientul.

3.mbuntirea continu a serviciului prin completarea serviciului cualtele suplimentare pentru ca oferta s fie ct mai atractiv trebuie saib n vedere servicii care au valoare pentru clieni, care sunt greu deimitat de concuren i care s fie fezabile din punct de vedere financiar.

4. Satisfacia clientului este sentimentul unei persoane rezultat princompararea performanelor percepute ale unui produs cu ateptrilerespectivei persoane.

6) DiscussionMake up a funny and attractive advertisement for a product or service.


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U N I T 5

TYPES OF COMPANIES

All business organizations represent an attempt to avoid certain costsassociated with doing business. Each is meant to facilitate the contributionof specific resources - investment capital, knowledge, relationships, and soforth - towards a venture which will prove profitable to all contributors.Except for the partnership, all business forms are designed to providelimited liability to both members of the organization and external investors.Sole Proprietorship

Generally a sole proprietorship is owned and run entirely by a single person. Inthe case of a sole proprietorship, the business is not legally a separate entityfrom the individual. The individual owner assumes a great deal of liability ashis/her assets are not considered to be separate from that of the business. Also,the debts of the business are not considered to be separate from the individual.If the owner is married any property owned in conjunction with another personsuch as (community property) would also be considered assets of thebusiness. Consequently this business structure could entail a great deal of riskand liability for the owner. Should anything go wrong, what might have beenconsidered private property (i.e. cars, homes, land, bank accounts, etc.) couldbe seized in a lawsuit against the business.General PartnershipA general partnership is made up of two or more partners going intobusiness together. Like a sole proprietorship the individuals involved arepersonally responsible for all debts and legal obligations of the business.The most dangerous trait of a general partnership is that the individualpartners are liable for the debts and legal obligations incurred by the other

partners when doing business on behalf of the company. A partnership isdissolved upon the death or withdrawal of a partner unless certainprecautions are taken.Limited PartnershipA limited partnership is made up of general partners and limited partners.General partners participate in the day-to-day business activities of thecompany, exercise managerial power, contribute capital, share in the profitsand are held personally liable for all company debts and legal obligations.Limited partners only contribute capital and share in the profits but take no

part in the management of the company nor are they held responsible forcompany debts or liability. For the limited partners a benefit of this type of


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organization is that they may participate in any profits the company mayproduce without risking more than the capital they are willing to contribute.The general partner, however, is subject to full legal liability. That is why aseparate corporation or limited liability company is often created to serve as

the general partner.Limited Liability Partnership (LLP)A limited liability partnership is created to protect partners from liability causedby other partners. (e.g. a partner gets into an at-fault accident while runningerrands and the company is sued.) However, it does not generally shield thepartner who caused the liability. A limited liability partnership can operatemore informally and flexibly than a corporation, and is accorded fullpartnership tax treatment. For example, in California, with few exceptions, onlyattorneys, certified accountants and architects may form an LLPJoint Stock CompanyA joint stock company is a limited liability corporation with a minimumregistered capital and at least five shareholders. It can be set up privately orby public subscription. Decisions are made by a majority vote in the GeneralMeeting of the Shareholders (each share represents one vote). Themanagement of a joint stock company is assumed by a Council ofAdministration (Board of Directors), although it is possible to have only oneAdministrator. The Directors do not necessarily have to be shareholders andthey are appointed by the General Meeting, which establishes their powers,for a maximum mandate of four years.Limited Liability Company (LLC)Limited liability companies are popular because they essentially combinethe best of both worlds; the limited liability of a corporation and thefavorable taxation accorded to partnerships. Just as limited partnerships andcorporations are considered to be separate legal entities from theirmember/owners, so are LLCs. Most states have allowed for singlemember/owner LLCs. One should note that IRS rules and regulations

regarding single-owner LLCs (may be taxed as a corporation or disregardedentity for taxation purposes) can be different from those with more than one(may choose to be taxed as a partnership or corporation).CorporationsA corporation is a separate legal and tax entity from the owners. To beincorporated an Incorporator must draft legal documents and file thedocuments with the appropriate government agency and pay the requiredfees and taxes. A corporation is owned by shareholders and is managed andcontrolled by the board of directors who elect the president and determine

the policies and actions to be taken by the corporation. In order to maintaincorporate status (included limited liability and favorable taxation) certain


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simple formalities must be observed in order to keep the corporate shieldintact. These formalities include, but are not limited to: annual meeting ofthe board of directors, the issuing of stock, keeping of corporate minutesand the appointing of corporate officers.

VOCABULARYventure (subst.) = actiune comercialajoint stock company = societate pe actiunilimited liability = raspundere limitatasole proprietorship = unic proprietarto run (verb) = a conduce, a administraassets (subst.) = active (ale unei companii etc.)consequently (adv.) = prin urmareto entail (verb) = a aduce dupa sine,a cauzato seize (verb) = a apuca, a prinde, a capturadebt (subst.) = datorie, obligatie, creantato incur (verb) = a atrage asupra sato be held liable/responsible = a raspunde deto run errands = a face comisioaneto shield (verb) = a apara, a protejatax (subst.) = impozit, taxa, contributie

attorney (subst.) = avocat, mandatar, notar publicIRS (abrev.) = International Revenue Serviceshareholder (subst.) = actionar, detinator de actiuniboard of directors = consiliul de conducereto keep minutes = a face un proces verbal

GRAMMAR

The Past Perfect Simple Tense is used: for an action which happened before another past action or before a

stated time in the past:The foreign partners had already reservedthe table when they went tothe restaurant.They had already satdown for the business dinner by 8 pm. for an action which finished in the past and whose result was visible

in the past:Bill had soldhis company after its failure, so he had to wait for a more

favourable time.


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The Past Perfect Continuous Tense is used: to put emphasis on the duration of an action which started and finished

in the past before another past action or a stated time in the past:They had been doingbusiness together for five years before they ended

their collaboration. for an action which lasted for some time in the past and whose result

was visible in the past:She had been workinghard that day, so she was tired.

DISCUSSIO1) Enlarge on:a) What are business organizations meant to?

b) Enumerate various the business forms in the lesson.c) What is a sole proprietorship?d) Explain what a general partnership and limited partnership mean.e) Speak about joint stock companies.f) Define an LLP and an LLC.g) Give the definition of a corporation.

2) Read the lesson carefully and find the words whose meanings are the

ones below:

- the amount paid or charged for something; price- which derives benefit; beneficial- two or more people contractually associated as joint principals in a business- something owed; obligation- a planned undertaking- the one who has or holds as property- a paper that furnishes information, proof or support of something

3) Fill in with the correct form of the Past Perfect Simple or

Continuous:a) That was the most difficult business letter I ever (draw up).b) We already (choose) our building location when we had to cancel it.c) I had a headache because I (work) on my project for at least five hours.d) The ground was wet. It (rain).e) We remembered we (not call) our superior on his birthday.f) They said they always (come) to the conferences where they (be) invited.


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

business and finance: People are definitely a companys greatest asset. It doesn't make any

difference whether the product is cars or cosmetics. A company is only as

good as the people it keeps. A brand for a company is like a reputation for a person. You earn

reputation by trying to do hard things well. If the firms that employ an increasing majority of the population are driven

solely to satisfy the owner's greed at the expense of working conditions, ofthe stability of the community, and of the health of the environment, chancesare that the quality of our lives will be worse than it is now.

A corporation's primary goal is to make money. Government's primaryrole is to take a big chunk of that money and give it to others.

Business social responsibility should not be coerced; it is a voluntarydecision that the entrepreneurial leadership of every company must makeon its own.

Spend a lot of time talking to customers face to face. You'd be amazedhow many companies don't listen to their customers.

When buying shares, ask yourself, would you buy the whole company?

5) Translate into English:1. Principiile comunicarii intr-o organizatie sunt aplicabile oricarei companii.2. Trebuie clarificat rolul comunicarii in atingerea obiectivelor companiei.3. Dezvoltarea unei organizatii se face in acelasi timp cu dezvoltarea

componentei umane.4. Companiile cred foarte mult in valoarea resurselor umane.5. Toi asociaii trebuie s primeasc beneficii i s participe la suportarea

pierderilor.

6) Discussion:

Should you start your own business, what field of activity would you chooseand why?Speak about a successful company in Romania or abroad.


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U N I T 6

WORK AND MOTIVATION

Work motivation is one of the key areas of organizational psychology.Every person has different reasons for working. The reasons for working areas individual as the person. But, we all work because we obtain somethingthat we need from work. The something we obtain from work impacts ourmorale and motivation and the quality of our lives.Some people work for love; others work for personal fulfilment. Others liketo accomplish goals and feel as if they are contributing to something larger

than themselves, something important. Some people have personal missionsthey accomplish through meaningful work. Others truly love what they door the clients they serve. Some like the camaraderie and interaction withcustomers and co-workers. Other people like to fill their time with activity.Whatever your personal reasons for working, the bottom line, however, isthat almost everyone works for money. Whatever you call it: compensation,salary, bonuses, benefits or remuneration, money pays the bills. Moneyprovides housing, gives children clothing and food, sends teens to college,and allows leisure activities, and eventually, retirement. To underplay theimportance of money and benefits to people who work is a mistake.Here are five ways to max-up your motivation at work :1. Keep your ambition in checkThe desire to work hard is strong when the incentive to impress and proveyourself is high. However, mismanaged ambition will erode your passion towork hard and burn you out.Manage your ambition by being smart about whom you impress and howyou impress them. Balance effort with payback by making sure your actions

are low effort to you and high value to them.2. Find out how to get from A to BFuzzy, unclear goals are a major drain on work motivation. Force your bossto delegate not abdicate work. Get clarity on how to get from A to B, andwhen. What exactly is the expected end result? Is this achievable? Do youneed help?Planning your route in advance will keep your work juices flowing.3. Get experienceWho do you aspire to be like? Do you think they know how to do

everything themselves?


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If you dont know how to do something, find someone who does and copyhim or her. Use all resources to hand websites, books, colleagues,relations, friends, TV characters, and professionals. Save time and learnfrom their mistakes, not yours.

Or better still, get someone else to do it.4. Set boundariesIf the work is taking too long, youre either doing too much or not doing itright. And wait a minute was it your job in the first place? Whether youtake work upon yourself or have it dropped from a great height, setboundaries in your work life.Be strict about when you arrive and when you leave work, and all the breaksyour body needs in between. Be strict about time to build relationships andtime to work and time for all the important stuff in your work life.

Be strict about what is and isnt your job. Were all one great big team atwork, so make sure the ball is passed around ALL players. You cant beplayer of the match every game.5. Push your limitsSometimes we get so busy nurturing and developing others, we forget todevelop our own skills.Treat your own development like you would treat your team's or friends orpartner's. Take time to discover what you want to do with your life and planyour personal development.That is why organizational psychologists have become interested in

devising strategies to help workers enhance their quality of work life(QWL), including improving work conditions and security, increasingworker responsibility, and providing financial stability. Other strategiesinclude enhancing the worker's sense of self-worth and providingopportunities for social relationships to develop within the organization.Consequently, job satisfaction is an area of organizational psychology thatwill certainly continue to be important in the future.

VOCABULARYmorale (subst.)= moralhousing (subst.) = locuinta; gazduireto underplay (verb) = a subestima, a nu trata la justa valoareincentive (subst.) = stimulent, indemn, incurajarefuzzy (adj.) = vag, estompatto nurture (verb) = a hrani, a nutri; a creste, a educato devise (verb) = a inventa, a planuito enhance (verb) = a spori, a intensifica


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GRAMMARThe Future Tense Simple is used:

in predictions about the future usually with the verbs think, believe,expectetc., the expressions be sure, be afraidetc., and the adverbs

perhaps, certainly, probably etc.His parents think he will becomea successful manager one day. for on-the-spot decisions and offers:Ill takethis offer.Since we are celebrating a new partnership, Ill payfor lunch. for actions/events/situations which will definitely happen in the

future and which we cannot control:Jill will bethirty years old next month. for promises (usually with the verbs

promise, swear, guaranteeetc.),

threats, warnings, requests, hopes (usually with the verb hope):I hope pollution levels will dropsoon. (hope)Factories must stop polluting the air or else we wont beable to breathe. (warning)

TheFuture Tense Continuousis used: for an action which will be in progress at a stated future time:This time next week, Ill be travelingto Austria. for an action which will definitely happen in the future as the result

of a routine or arrangement:

Ill be seeingthem at the meeting on Tuesday. when we ask politely about someones plans for the near future:Willyou be goingout later?

DISCUSSIO1) Enlarge on:a) What field does work motivation belong to?b) What are the various reasons why people work?

c) Of the five tips for work motivation, what is the first?d) What does the second tip suggest?e) What does the third tip refer to?f) Summarize the fourth tip.g) What does the fifth tip speak about?h) Enumerate some strategies to improve QWL.

2) Find synonyms for:

area, work, motivation, goal, benefit, to erode, to treat, strategy, satisfaction,

to enhance


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3) Put the verbs in brackets into the Future Tense Simple or Continuous:a) Have you finished that report yet?Yes. I (give) it to you in a minute.b) I (stay) in Claires office today.

I wont expect you here, then.c) Would you like to join me for lunch today?Yes, please. I (meet) you at half past one.d) Are you looking forward to your trip?Yes. This time tomorrow I (fly) to London.e) I cant hear the news very well.I (turn up) the volume.f) This writing is too small for me to read.Give it to me and I (read) it to you.

4) Translate into Romanian:Douglas McGregor (1960) summarized two possible views of management inworker motivation. Theory X is the traditional view of direction and control. Itstates that the worker dislikes work and tries to avoid it. The function ofmanagement, therefore, is to force the employee to work, through coercion andthreats of punishment. The worker prefers in most cases to be directed and wantsto avoid responsibility. The main motivator for the worker, therefore, is money.Theory Y is the humanistic/self-actualization approach to human motivation.Sometimes called the human resources model, it states that work is natural and can

be a source of satisfaction, and that when it is, the worker can be highly committedand motivated. Workers often seek responsibility and need to be more fullyinvolved with management to become motivated. Theory Y is most likely to beused when management utilizes worker participation in organizational decisions.

5) Translate into English:B. 1. Omul prin natura sa este o fiinta emotionala, dotata cu o inteligentaemotionala care poate fi dezvoltata pana la varste inaintate, iar a "lucra" cuoamenii inseamna in mare masura a "lucra" cu emotiile proprii si ale celorlalti.2. Abilitatea de a-i conduce pe altii este calitatea esentiala a unui manager.

Din acest motiv trebuie sa avansezi gradual catre acea pozitie n carestimulezi angajatii sa dea ceea ce au mai bun si sa-si foloseasca la maximumcapacitatile pentru a atinge obiectivele organizatiei.3. O buna strategie de motivare trebuie sa tina cont de abilitatile, pregatirea,ambitiile si prioritatile profesionale si personale ale fiecarui angajat in parte,mai ales in cazul firmelor mici.

6) Discussion:Speak about what you would appreciate most in a job (refer to workingconditions, co-workers, salary, benefits etc.)


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U N I T 7

PRODUCTION

Economic production is an activity carried out under the control andresponsibility of an institutional unit that uses inputs of labour, capital, andgoods and services to produce outputs of goods or services.Efficiencyis an important concept having several meanings which generallyrelate to how well an economy allocates resources to meet the needs andwants of consumers.Economic growthconsists not in increasing the production of things,but in

the production of wealth.What does wealth consist of? Wealth is whateverpeople value. Many people have drifted into the habit of supposing that aneconomic system produces material wealth, such as cars, houses,basketballs, breakfast cereals, ball-point pens etc. But none of this is wealthunless it is available to someone who values it. Material things cancontribute to wealth, obviously, and are in some sense essential to theproduction of wealth.Economic welfare is a comprehensive measure of the general state ofeconomic well-being/welfare. Real GDP (Gross Domestic Product) growthis one indicator of an improvement in economic welfare. But does real GDPgive us a full and accurate measure of economic welfare? It does not. Thereason is that economic welfare depends on many other factors that are notmeasured by real GDP (or that are not measured accurately by real GDP).Some of these factors are:

Overadjustment for inflation (e.g. when car prices rise because carshave become better, what is really an increase in production iscounted as an increase in price);

Household production (e.g. an enormous amount of production takesplace every day in our homes. Changing a light bulb, cutting thegrass, washing the car, and teaching a child to read are all examplesof household production that do not involve market transactions andare excluded from GDP);

Underground economic activity (the underground economy ispurposely hidden from the view of the government in order to avoidtaxes and regulations because the goods and services being producedare illegal, which means the underground economic activity is

unreported and thus omitted from GDP) ;


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Health and life expectancy (a higher GDP does enable us to spend moreon medical research, health care, a good diet, and exercise equipmentand as real GDP has increased, our life expectancy has lengthened);

Leisure time (it is an economic good that adds to our economic welfare;

the more leisure we have, the better off we are. Our time spent workingis valued as a part of GDP, but our leisure time is not);

Environment quality (e.g. resources that are used to protect theenvironment are valued as part of GDP. One of the things thatwealthy people value is a clean environment and they devoteresources to protecting it);

Political freedom and social justice (e.g. small elite might enjoypolitical liberty and extreme wealth while the vast majority areeffectively enslaved and live in poverty. Such an economy wouldgenerally be regarded as having less economic welfare than one thathas the same amount of real GDP but in which everyone enjoyspolitical freedoms) .

When it comes to GNP (Gross National Product), some people perceiveit as a measure of economic welfare, happiness or social progress, yet itfocuses on the production of goods and services, without making anyjudgements about how useful the goods are or what makes people wantthem. It is the broadest and most frequently quoted index of economic

performance and an indicator of short-term changes in productiveactivity. Current GNP provides a reasonably accurate indication of howwe are doing relative to the recent past.Economic efficiency, another term related to productive activity, isdefined as the least-cost method of production.Allocative efficiency is the use of resources to produce the goods mostdesired by society. It is the reason why most economists look to themarket first for solutions to economic problems.Technologicalor technical efficiencymeans avoiding outright waste. Thus

a restaurant is technically inefficient if it produces a standard meal usingtwice as much labour as other restaurants. In brief, technical inefficiencyexists if there is poor management and unnecessarily high costs.Dynamic efficiency exists when changes are occurring at the best rate for example, when new technology is being developed and adopted atthe best rate.Therefore, efficiency prevails in an economy when all net gains fromresource use have been achieved. Perfect competition works towardtechnical efficiency as well as allocative efficiency. If a firm is

inefficient and produces at a high-cost point, it will not be able to


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survive in competition with others. Thus, there is a tendency forinefficient old firms to go the way of the dinosaurs to be driven out ofbusiness by their existing competitors or by new firms with lower costs.

VOCABULARYGDP (Gross Domestic Product) = The total value of final goods and

services produced within a country'sborders in a year.

GNP (Gross National Product) = The value of all goods andservices produced in a country inone year, plus income earned by itscitizens abroad, minus incomeearned by foreigners in the country.

Wealth = bogatie, avere, bunastareto drift = a tinde sprecomprehensive = cuprinzator, vastallocative = de alocare, de repartizareoutright = complet, in intregimeto prevail = a (pre)domina, a reusi, a izbuti

GRAMMARThe Future Perfect Simple Tense is used for an action which will befinished before a stated future time:They will have finishedtheir papers by four oclock this afternoon.The Future Perfect Continuous Tense is used to emphasize the durationof an action up to a certain time in the future:By the time Rick retires, he will have been workingfor the same companyfor thirty years.

DISCUSSIO1) Enlarge on:a) Define economic production.b) What does efficiency generally refer to?c) Briefly describe the factors that economic welfare depends on.d) What types of economic efficiency are there? Explain each.e) What does the GDP of a country mean?f) What does the GNP of a country mean?

2) Give the antonyms of:

input, consumer, wealth, poor, comprehensive, high, to increase, to produce


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3) Put the verbs in brackets into the Future Perfect Simple or Continuous:a) By 3 oclock, she (file) for six hours.b) By the end of next month, Sam (finish) the project.c) He (not start) sending faxes before Tuesday.

d) By the time she arrives in Paris, she (travel) for four hours.e) I hope I (run) my own business by the time I am thirty-five.f) By Saturday, Lisa (be) hired for two weeks.g) Hopefully, they (learn) everything by the time they sit in for the exam.h) By Christmas, I (work) for this company for eighteen months.i) By next weekend, Brian (move) his papers into his new office.j) At 3 oclock, I (read) the contracts for six hours.

4) Translate into Romanian:

A region's gross domestic product, or GDP, is one of several measures of thesize of its economy. The GDP of a country is defined as the market value of allfinal goods and services produced within a country in a given period of time.Until the 1980s the term GPorgross national productwas used. The twoterms GDP and GNP are almost identical. The most common approach tomeasuring and understanding GDP is the expenditure method:GDP= consumption + investment + government spending + (exports imports)"Gross" means depreciation of capital stock included. Without depreciation, withnet investment instead of gross investment, it is the Net domestic product.

5) Translate into English:B. Produsul intern brutexprima valoarea bunurilor si serviciilor rezultatedin activitatea desfasurata in interiorul tarii, de obicei intr-un an. Produsulnational brut reprezinta suma dintre produsul intern brut si solduloperatiilor economice cu strainatatea. Produsul national netse obtine prinscaderea amortizarilor din produsul national brut. Dintre acesti indicatori,cel mai folosit in comparatiile internationale este produsul national brut, elfiind acela care reflecta si rezultatele relatiilor economice externe.

6) Explain the following quotes:The study of economy usually shows us that the best time for purchase

was last year.The trouble with a budget is that it's hard to fill up one hole without

digging another.Economy is how to spend money without enjoying it.The economy depends about as much on economists as the weather does

on weather forecasters.

Production is not the application of tools to materials, but logic to workThe production of too many useful things results in too many useless people.


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U N I T 8

PRICING POLICY

Pricing Before You BuildEstablishing a pricing strategy is an activity that should be completed beforeyou start product development. The only way to determine how muchmoney you can afford to spend on development, support, promotion and theother costs associated with a product is to analyze how much of that productyou will sell, and at what price. Making a profit today depends on asuccessful pricing strategy.

Pricing StrategyWhile there is no single recipe to determine pricing, the following is ageneral sequence of steps that might be followed for developing the pricingof a new product:1. Develop marketing strategy perform marketing analysis,segmentation, targeting, and positioning.2. Make marketing mix decisions define the product, distribution, andpromotional tactics.3.Estimate the demand understand how quantity demanded varies with price.4. Calculate cost include fixed and variable costs associated with the product.5. Understand environmental factors evaluate possible competitors,understand legal constraint.6. Determine pricing select a pricing method, define discounts.

Marketing Strategy and the Marketing MixBefore the product is developed, the marketing strategy is formulated, includingtarget market selection and product positioning. There usually is a tradeoffbetween product quality and price, so price is an important variable in positioning

Because of inherent tradeoffs between marketing mix elements, pricing willdepend on other product, distribution, and promotion decisions.

Estimate the Demand CurveBecause there is a relationship between price and quantity demanded, it isimportant to understand the impact of pricing on sales by estimating thedemand curve for the product.For existing products, experiments can be performed at prices above andbelow the current price in order to determine the price elasticity of demand.

Inelastic demand indicates that price increases might be feasible.


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Calculate CostsIf a firm has decided to launch a product, there should be at least a basicunderstanding of the costs involved, otherwise, there might be no profit to be made.The total unit cost of a product is composed of the variable cost of

producing each additional unit and fixed costs that are incurred regardless ofthe quantity produced.

Environmental FactorsPricing must take into account the competitive and legal environment inwhich the company operates. For example, setting a price too low may riska price war that may not be in the best interest of either side. Setting theprice too high may attract a large number of competitors.From a legal standpoint, a firm is not free to price its products at any level it

chooses. For example, there may be price controls that prohibit pricing a producttoo high. Pricing it too low may be considered predatory pricing or dumping inthe case of international trade. Offering a different price for different consumersmay violate laws against price discrimination. Finally, collusion with competitorsto fix prices at an agreed level is illegal in many countries.

Pricing MethodsTo set a specific price level that achieves their pricing objectives, managersmay make use of several pricing methods. These methods include:Cost-plus pricing set the price at the production cost plus a certain profitTarget return pricing set the price to achieve a target return-on-investmentValue-based pricing base the price on the effective value to the customerPsychological pricing base the price on factors such as signals of productquality or what the consumer perceives to be fairThe normally quoted price to end users is known as the list price. The priceusually is discounted for distribution members and some end users.

VOCABULARYto complete = a termina, a desavarsi, a completato compete = a concura, a rivalizastandpoint = punct de vedere, pozitieto prohibit = a interzicedumping = vanzare de bunuri pe piete straine sub

pretul de costcollusion = intelegere secreta intre doua parti,

complicitate

list price = pret de catalog, pret de pornire


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marketing mix = elementele de baza ale unui plan demarketing: produs, pret, piata,promovare

return-on-investment (ROI) = randament, rentabilitate a investitiei

feasible = posibil de realizatprice elasticity of demand = modul in care cererea raspunde uneischimbari a pretului

tradeoff = schimb ce implica un compromisdemand curve = reprezentare a modului in care

cererea variaza in functie de pret

GRAMMAR

MODAL VERBS

SHALL

Determination, resolution:Our employees shall not leave their offices until the program is over! Promise:If this product is launched successfully, you shall have a reward. Threat:If you do not listen to me, you shall be fired.

WILL

Willingness, determination:I will pay you as much as you ask for. Promise:I will perform this marketing analysis. Something that recurs very often:Prices will be always high.

CA

Present or future physical or mental ability:Only the government panel can balance a countrys budget. Permission (informal English):Can we train the new comers or shall we wait for our boss? Possibility when certain circumstances permit:If we make a deal, we can grant you a 5% discount. Impossibility or disbelief:

She is only a clerk; she cant hire people.


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COULD

Past physical or mental ability:When he was a sales agent he could sell things very easily. A polite request:

Could you tell us if 10 January is a suitable delivery time? A past possibility depending on certain circumstances:We could develop our product due to its unique qualities. Past permission:As we had all our papers in order, we could pass through the customsvery rapidly.

MAY

Formal permission:May I hand you these documents? Possibility:The meeting may start any time. Prohibition:Candidates may not bring dictionaries in the examination room.

MIGHT

Permission connected with the past:

He might cut budgets whenever he wanted since he was the manager. Irritation, indignation, reproach:You might have told me the product is out of stock. Uncertainty:I wonder what type of company might launch such prices.

MUST Obligation, command, necessity:You must show your identity card. Deduction, logical conclusion, probability:If they received the cheque, they must have the money.

DOT HAVE TO /EEDT

Absence of obligation:You dont have to/ neednt report this incident to your superior.

MUST EEDS

External necessity or obligation:You must needs send this offer today.


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EEDS MUST Strong sarcastic meaning:She needs must come today when I am so busy.

SHOULD Obligation, advice, recommendation:She should not include additional material without the companysagreement.

OUGHT TO

Duty, moral obligation:You ought to phone your business colleagues at once.

WOULD

Polite request:Would you tell me the original brand names?

USED TO

A past habit or condition:We used to run this record shop when we were young.

DARE Indignation, reproach:How dare you interrupt me?

DISCUSSIOI. Enlarge on:1. What are the six steps that might be followed in developing the pricing ofa product? Can you mention some other strategies besides this startingframework? 2. Speak about price and the marketing mix. 3. To what extentdo you consider the competitive environment important? What about thelegal one? 4. Which of the above mentioned pricing methods is the mostefficient? Why? 5. Speak about the possible link that exists among pricingpolicy, productivity, social development and well-being.

II. Insert the following words in the text below:

price sensitivity, customer, encounters, favor, unwilling, raise, something,reticence


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Raise Price to Exploit a Reticence to SwitchOnce the is yours, the situation switches in your . One of theresistance factors your sales force on a new sale is ,,, to switch. Anexisting customer is still to learn something new, only now theyre afraid

to switch from you, not to you. They wo

Documents

04. Business English