Business Vocabulary In

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BusinessVocabulary inAdvancedBill MascullШ CAMBRIDGEUNIVERSITY PRESS

ContentsINTRODUCTIONQUALITYlll What is quality?THE HUMAN DIMENSION28A Defining quality В Quality in manufacturing CQuality in servicesWorld of work10A My work is so rewarding В I like theteam work C I want to make a contributionManagement styles1A Standards and cenification В ISO 900014A Total quality management В KaizenC Just-in-time productionA Motivation 1 В Motivation 2 C TheoryX and Theory YManagement styles2TQM and JITA Hygiene factors В Motivator factors CEmpowermentU Employment andemployabilityQuality and peopleand inflexibility303234A Investors in people В The EFQM Excellence Model163 The management of change 36A Business process re-engineering В The benefits ofBPRA Outsourcing В EmployabilityC Ereelancers and portfolio workersFlexibilityQuality standards1218A Ways of working В Job flexibility C JobprotectionWork-lifebalance20A StressВ The causes of stress C Quality of life9 ManagingtalentStriving for perfection2238A Benchmarking and best practice В Six sigma qualityA Core competents В Creatives and suitsU Team building24A Teams В Team players C Stages ofteam lifeCOMPETITIVE STRATEGYlit Strategic thinking40A StrategyВ Companies and marketsCompetition42A CompetitorsВ ‘Competing’ and ‘competitive’Companies and their industries44A Competitive forces В SWOT analysis C Be good atsomethingThe right skillsA Hard and soft skills ВEmotional intelligenceBusiness Vocabulary in Use (advanced)26

llil Key strategic issues46A Industries and their players В Mergers andacquisitions (M&cA) C Make or buy?IT AND ITS USESm The IT revolution64A Broadband Internet В Mobile Internet CMoore’s LawЯП Innovation48A Innovation and the development process В Pioneersand followers C Shakeout and consolidationyiil Internet security66A Attack and defence В CybercrimeC Privacy and confidentialityЩ E-commerce: after boomand bustPreparing for the future 50A Scenario planning В Futurology C Risk management68A Old economy, new economy В B2C C B2BKnowledgemanagement70A Sharing knowledge В The learningorganizationICM IntellectualMARKETINGproperty72A Copyright infringement В Technicalprotection C Legal protectionThe four Ps and thefour Cs52A The four Ps В The four Csfff Customer satisfaction54A The customer В Customer delight C CustomerdissatisfactionKnowing your customers156A Data and databases В Data miningC Customer relationship managementm Knowing your customers258A SegmentationВ Customer groups: demographic and behaviouralsegmentation C Customer groups: lifestyle andpsychographic segmentationBrands and branding60A Brand equityВ Brand positioning and differentiation C BrandstretchingGlobal brandsCOMPANY FINANCEicfcl Measuring performanceCD Profit and loss account6276A Accruals accounting В Profit and loss CEarningsiCM Balance sheet 1A Steps abroad 1 В Steps abroad 2 C Think global, actlocal74A Financial reporting В The financial yearC Shareholders, bondholders and lenders78A Assets В DepreciationBalance sheet 2A Liabilities В Shareholders’ equityBusiness Vocabulary in Use (advanced)80

Cashflow statement82A Cash inflows and outflows В Typesof cashflowinvestment ratiosA Return on assets ВTHE GLOBAL ECONOMYEiri Global forces84Return on equity CLeverageGlobalizing trendsInvestment and debt86TradeInternational aid88104A Dismantling the barriers В Protectedindustries C Fair tradeQ) Accounting standardsA Audits and their transparency ВInternational standards102A Direct investment В BorrowingC Word combinations with ‘debt’Shareholder valueA YieldВ Price/earnings ratio C Maximizingshareholder value100A Paths to prosperity В GDPandGNI C106A Humanitarian aid В Development aidC The aims of aidSustainable development108A Climate change В Sustainability CThe triple bottom lineCORPORATE RESPONSIBILITYEthics and business90A Hthical behaviour В Accountabilityand transparency C Corporate socialresponsibilitym Social reportingA Social performance audits В Wordcombinations with ‘social’C Labour standardsEM Green issues92Index94A Imvironmental pollution ВRecyclingC Word combinations with ‘environmental’ DSustainabilirvCorporate governance96A Board organization ВSeparation of roles CRewards for success(and failure)m Ethical investmentA Controversial products ВSocially-responsible investmentBusiness Vocabulary in Use (advanced)Answer98keyno124

Cambridge International CorpusIn writing this book, extensive use has been made of business-related material from the CambridgeInternational Corpus: business articles from the British and American press.The corpus has provided valuable information on the typical patterns of business English usage,and this has been used in compiling the language presentation material and in many of theexercises.The Cambridge International Corpus is a vast database of over 700 million words of real Englishtaken from books, newspapers, advertising, letters and emails, websites, conversations andspeeches, radio and television. The Corpus helps us to get a representative picture of how English is used, both in writing andin speech It is constantly being updated so we are able to include new words in our books as soon as theyappear. It contains both British and American English, which means we can analyse the differences andproduce accurate materials based on either variety of English. It is ‘real’ English so we can ensure that examples in our books are natural and realistic.Cambridge Business CorpusThe Cambridge Business Corpus, which is part of the Cambridge International Corpus,contains business articles from the British and American press, business books, financial andlegal documents, company reports, professional and commercial texts, government reportsand product descriptions.More choice from the world’s bestsellers v faiUseAdvancedGrammarin Use4U h»elMcCarthyr«lkitvODeily. Visit our dictionary ulary in Use (advanced)

IntroductionWho is this book for?Business Vocabulary in Use Advanced builds on the success of Business Vocabulary in Use. It isdesigned to help upper-intermediate and advanced learners of business English improve their businessvocabulary. It is for people studying English before they start work and for those already working whoneed English in their job.The emphasis is on language related to today’s important, and sometimes controversial, businessissues.You can use the book on your own for self-study, or with a teacher in the classroom, one- to-one or ingroups.How is the book organized?The book contains 50 two-page thematic units, in eight key business areas.The left-hand page of each unit presents and explains new words and expressions, and the right-handpage allows you to check and develop your understanding of them and how they are used through aseries of exercises.There is cross-referencing between units to show connections between uses of the same word orsimilar words used in different contexts.There is an answer key at the back of the book. Most of the exercises have questions with only onecorrect answer. But some of the e.xercises, including the Over to you activities at the end of each unit(see below), are designed for discussion and/or writing about yourself and your own organization orone you would like to work for.Where appropriate, references at the bottom of left-hand pages give the sources (books and websites)for the ideas under discussion.There is also an index. This lists all the new words and phrases introduced in the book and gives theunit numbers where they appear. The index also tells you how the words and expressions arepronounced.The left-hand pageThis page introduces the new vocabulary and expressions for each thematic area. The presentation isdivided into a number of sections indicated by letters: A, B, C, with simple, clear titles.As well as explanations of vocabulary, there is information about: typical word combinations. the grammar associated with particular vocabulary, for example the verbs that are used withparticular nouns.There are also notes on tricky language points, such as countable and uncountable nouns, and thedifferences between British and American English.Business Vocabulary in Use (advanced)

The right-hand pageThe exercises on the right-hand page give practice in using the new vocabulary and expressionspresented on the left-hand page. Sometimes the exercises concentrate on using the words andexpressions presented on the left-hand page in context. Other exercises practise the grammaticalforms of items from the left-hand page. Some units contain tables to complete, or crosswords.'Over to you' activitiesAn important feature of Business Vocabulary in Use Advanced is the Over to you activity at theend of each unit, which caters for learners who are in work as well as those who are not. The Overto you activities give you the chance to put into practice the words and expressions in the unit inrelation to your own professional situation, studies or opinions.Self-study learners can do this as a written activity.In the classroom, the Over to you activities can be used as the basis for discussion with the wholeclass, or in small groups with a spokesperson for each group summarizing the discussion and itsoutcome for the class. The teacher can then get learners to look again at the words andexpressions that have caused difficulty. Learners can follow up by using the Over to you as awritten activity, for example as homework.How to use the book for self-studyFind the topic you are looking for by referring to the contents page or the index. Read through theexplanations on the left-hand page of the unit. Do the exercises on the right- hand page. Checkyour answers in the key. If you have made some mistakes, go back and look at the explanationsand exercise again. Note down important words and expressions in your notebook.How to use the book in the classroomTeachers can choose units that relate to learners’ particular needs and interests, for example areasthey have covered in course books, or that have come up in other activities. Alternatively, lessonscan contain a regular vocabulary slot, where learners look systematically at the vocabulary ofparticular thematic or skills areas.Learners can work on the units in pairs, with the teacher going round the class assisting andadvising. Teachers should get learners to think about the logical process of the exercises, pointingout why one answer is possible and others are not.We hope you enjoy using this book.Business Vocabulary in Use (advanced)

World of workMy work is so rewarding‘I work in advertising. I love my work, which is really rewarding and stimulating. Originality andcreativity are very important in this industry, of course.No two days are the same in my job; 1 could be contacting film companies for new advertisingcampaigns one day and giving client presentations the next. 1 like the client contact and I am verymuch hands-on - being involved with the productive work of the agency rather than managing it.When 1 joined the agency, 1 hit it off with my colleagues immediately and I still get on well withthem. There’s a very good rapport between us.’I like the team work‘I’m an aircraft engineer. I work on the research and development of new aircraft. I love puttingideas into practice. I like working on my own, but it’s also great being part of a team. I like theteam work and the sense of achievement when we do something new. And of course, the planeswe produce are very beautiful.Is there anything I don’t like? I dislike days when I’m chained to a desk. I don’t like admin andpaperwork - sometimes I feel I’m snowed under with it. And in a large organization like ours,there can be a lot of red tape and bureaucracy - rigid procedures that can slow things down.’I want to make a contribution‘I’m a secondary school teacher. It’s a low-paid job but I want to help people and make acontribution to society. That’s what gives me motivation. My job gives me a lot of satisfaction.The work can be stretching, taking me to the limits of my skills and knowledge. But it’s great tosee kids developing and learning. Of course, they can be very difficult and demanding, butsometimes we even get recognition from parents that we are doing a good job! But I don’t likeunnecessary interference - I don’t like people breathing down my neck.’10Business Vocabulary in Use (advanced)

1.1Complete the sentences with expressions from A opposite.1 Work that is interesting and exciting is .and .23If you have a good working relationship with your colleagues, you . well with them.4If you do the actual work of the organization rather than being a manager, you are5If you want to say that work is not repetitious, you can say,61.2If you spend time with customers, you have . and . are when you have new and effective ideas thatpeople have not had before.The aircraft engineer talks about his work. Complete his statements with expressions from Вopposite.Sometimes I work late at theoffice when everyone has gonehome. I like .It’s great to see what I learntduring my engineering course atuniversity being applied in actualdesigns. I like .I hate it when there is a big stack ofdocuments and letters on my deskthat I have to deal with.I don’t like . and1.31 love the .involved when we all work togetherto create something new.It’s rare, but sometimes when I come into theoffice and see a huge pile of work waiting for me,I feel completely .When we see a new plane fly for the firsttime, we all feel a great .I get frustrated when you have toget permission to spend anythingover 50. 1 don’t like .and .Complete this table with words from C opposite and related forms. Put a stress mark in front of thestressed syllable in each word. (The first one has been done for you.)VerbNounAdjectivecon'tribute (or ’contribute)СОЛ Г'/'Ы rite a job description for your own job or one you would like, and say why you feel you aresuitable for it.Business Vocabulary in Use (advanced)II

Management styles 1Motivation 1Yolanda - senior manager, car rentalfirmf'1 believe that all our employees can find satisfaction in what they do. We give themresponsibility, which means that the decisions they take have a direct impact on our success,and encourage them to use their initiative, so they don’t have to ask me about everydecision they make.We hope this gives employees the feeling that they are valued, with management knowingthe effort they make. We believe that all this leads to a higher sense of motivation amongemployees.When everyone feels motivated, morale is good and there is a general feeling of well-beingin the organization.Motivation 2I don’t believe in all this talk about motivation.My subordinates, the people working under me, arebasically lazy and need constant supervision - wehave to check what they are doing all the time.Some people think this is authoritarian, but I thinkit’s the only way of managing.Decisions must be imposed from above withoutconsultation - we don’t discuss decisions withworkers, we just tell them what to do.Xavier - factory managerNote: Subordinate is very formal and can be negative.Theory X and Theory YXavier has conservative views and believes in what the US management thinker DouglasMcGregor* called Theory X, the idea that people dislike work and will do everything they canto avoid it.Yolanda is more humanitarian and believes in Theory Y, the more advanced view that, giventhe right conditions, everyone has the potential to find satisfaction in work.Others have suggested Tbeory W (for ‘whiplash’), the idea that most work since the beginningof human society has been done under systems of slavery.’ The Human Side of Enterprise (McGraw Hill 1985)12Business Vocabulary in Use (advanced)

2.1Yolanda’s employees are talking about her management style - see A opposite. Replace the underlinedphrases with appropriate forms of expressions from A. (Pay attention to the grammatical context. Thefirst one has been done for you.)1 She knows exactly what’s involved in our jobs. She makes us feel she understands the effort wemake.Skt nunkes uS valueJ.2 She encourages us to do things without asking her first.3 The feeling among employees here is very good. We feel really involved and want to work towardsthe company’s goals.4 We have a real sense of the idea that our efforts arc important for the success of the company.5 We have a real sense of liking what we do and feeling good when we achieve specific goals in ourwork.2.2Look at the expressions in В opposite and say if these statements are true or false.1 .Authoritarian managers like listening to the opinions of their employees.2 If people need constant supervision, you have to watch them all the time.3 Authoritarian managers like the idea of consultation with their employees.4 If decisions are imposed from above, employees have no influence over them.5 Someone’s subordinates are the people working above them.2.3Managers from different companies are talking about their employees. Look at C opposite and saywhether each manager believes in Theory X or Theory Y.1You have to keep an eye onemployees the whole time.I don’t allow them to work athome.It’s important to let people workwithout constant supervision. Theyfeel they’re being treated likechildren otherwise.I encourage employees touse their own initiative.That way you can see thepotential future managersamong them.They must be here by 8.30 amand they can’t leave before 5.30pm. That way I can be sure theyare doing the work we arc payingthem to do. We encourage the workersat the plant to make suggestions forimprovements in the processes theyarc involved with.All they’re interested in isgetting to the weekend, doing aslittle as possible.Over o l OUУЛ.Write a memo to the head of your ortjaniitation or one you would like to work for,sugyesting ways to eneourage initiative among employees.Business Vocabulary in Use (advanced)13

3.1 Look at the job advertisement. Matchthe circled items 1-6 to thehygiene factors in A opposite.Duval and SmithLegal Translator English-FrenchParis (DlgsgoodLarge Anglo-French law firm seeks legal translator to translateand correct French and English legal documents. Legalqualifications and experience essential.Based in the firm's busy translation department, you will work(2)f0ndir the head of translation (3)(as part of a team of fiv ftranslatoi (4)\ln line with the overall policies of the firrhl youwill work (5) §3 hour week with a (6)fone-year contra in the fsfTnstance.")Email CV to jmartin@jduvalandsmith.fr3.2Vanessa Holt got the job advertised above. Three months later, she writes an email to an employmentagency. Complete the email with expressions from В opposite.mxTo. : yj isusan.rivers@comptrans.co.ukiiiXIFrom . I vanessa.holt@duvalandsmith.fr[ Subject. ) EnquiryDear Ms RiversAs you can see from my CV, I'm a qualified translator, and I've been at Duval and Smith, an Anglo-French law firm inParis, for three months now. I’ve had experience of translating a lot of different documents, so (1) . is interesting enough, but I don't get any (2) . for the work I do- my boss never comments at all. He never gives us any (.3) .either, for example by letting us dealwith clients directly. I never get a sense of (4) . because my boss takes all the credit for the work we do.There are quite good opportunities for promotion and (5) .

Cambridge International Corpus In writing this book, extensive use has been made of business-related material from the Cambridge International Corpus: business articles from the British and American press. The corpus has provided valuable information on the typ

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