COMPREHENSIVE MATERIAL FOR ENGLISH - TERM 2 Intelligent Business tomankova@econ.muni.cz TABLE OF CONTENTS U8 - p. 2 U9 - p. 12 U10 - p. 20 Uli-p. 30 U12 - p. 39 U13 - p. 48 U14 - p. 55 U15 - p. 60 UNIT EIGHT- BRANDS ■ BRAND = // noun, verb 1 [C] a type of product or group of products sold using a particular name, which is often the name of the company that produces them; the name that is given to the products: People tend to go on buying the same brand of breakfast cereal. He helped to build two of the world's best-known brands: Nike and Starbucks. The company has strong core brands. She was responsible for creating the company's 'Learn it Well' brand. Harley-Davidson is one of America's most successful consumer brands. BRAND IMAGE, BRAND NAME a world-class/favourite/leading/major/principal/top brand big/core/famous/global/popular/strong/well-known brands to build/create/develop/establish a brand 2 [C, usually sing.] a particular type or kind of sth: the company's particular brand of project management a unique brand of humour WHICH WORD? brand/label/make These words are used to refer to names of products. A brand or label is a name that a company gives to its products, which can also be the name of the company itself. Brand is used about all kinds of goods and services and especially in the context of marketing: What brand of toothpaste do you use? • brands like Nike and Starbucks • We invested heavily in promoting the brand. Label is used especially about food, clothing and music. It is mainly used in fixed word combinations or as part of the names of products: Most supermarkets sell a range of own-label products. • Chris would only wear designer/luxury labels. • We decided to call it Red Label tonic water. A product's make is the name of the company that makes it. The word is usually used about cars and electrical goods: What's the car's make and model? • a Swiss make of watch ' REGISTERED TRADEMARK 1 (abbrTM) a name, symbol or design that a company uses for its products and that cannot be used by anyone else: French law protects your trademark and logo, a registered trademark the rights of trademark holders The company was sued for trademark infringement (= illegal use of another company's trademark). The company's trademark application was rejected. A trademark search revealed that the name was already registered. See note at COPYRIGHT trademark holders/owners trademark infringements/violations 2 a special way of behaving, dressing, etc. that is typical of sb and that makes them easily recognized: He was wearing his trademark white suit. trademark verb [+obj]: trademarked designs/names _ COURSEBOOK, p. 69; READING E> TASK Answer the following questions: 1. What kind of image does the name Gucci evoke? 2. How would you define Gucci Group's position on the market? 3. How does Gucci sell its brand of leather goods, shoes, clothes, ties, scarves and jewellery? 4. Which product generates most money in revenue? 5. Who and when started the company? 6. How did he express his understanding of the importance of building a reputation for his brand? 7. What happened after the founder of the company died? 8. How was Audrey Hepburn related to the Gucci Empire in the 1950's? 9. How did Gucci benefit from his own popularity? 10. Gucci's popularity and recognition further increased in the 1980 's. T/F 11. In what way did decisions about product distribution affect the company's reputation? 12. How was the company perceived during this period of disagreement? 13. How did the company get out of this crisis? 14. The Gucci brand recognition and visibility recovered but was never restored to the original level. T/F 15. Which two men stood behind this recovery? What exactly did they do? 16. What do these two men have in common? 17. How does the author of the article describe the economic climate of the past few years? 18. How do analysts describe today's Gucci? Vocab. a bumpy ride/road = a situation with both failures and successes revamp = to improve the way something looks or operates by making major changes to it: a plan to revamp the banking industry COURSEBOOK, p. 68; LISTENING E> TASK Complete the gaps with the words and phrases you hear: The amazing thing about most successful brands is that very little can 1. __________________________________(5 words) once they've become well established and they 2.______________________________(7 words) . I mean, certain big brands have survived scandals about 3._________________(1 word) , they've continued to sell even though the sports teams they chose to promote them lost all their matches in one season! But one thing that can kill a brand, and particularly a luxury brand, is if it loses its 4._____________________(3 words) . If you give too many retailers licences and let them sell at the prices 5._______________(3 words)- well, then you 're in trouble! You must never 6.___________________________(6 words). Vocab. sweatshop = a place where people work for low wages in poor conditions: sweatshop labour/conditions The company was accused of running clothing sweatshops overseas COURSEBOOK, p. 73; LISTENING, CAREER SKILLS - DEALING WITH PEOPLE AT WORK E>TASK Complete the gaps with the words and phrases you hear: Jack: As you can see from the slide here, we are going to 1._____________________( 4 words) all our directly operated stores in line with the new brand image of 2.___________________(2 words). This will 3._________________________________________( 4 words) the media campaigns and should lead to a considerable increase in sales! 3 (3 words) where the Catherine: Yes, it is a good idea, but I 4._________________________ budget for this is going to come from. J: Yes, I was going to come to that. We will of course have to cut the advertising budget, and I feel we should 5.__________________________________(5 words). A better-targeted print campaign suppported by the new.... C: Hold on, what do you mean, 6._________________( 1 word) the TV campaign? Why didn't you tell me? We did so much research for that, you know, and that campaign will get us extra sales we need. I'm sorry, but I... J: Look, 7.____________________________(4 words)- it isn 't that your idea is bad, it's just that this is clearly the best way to....... COURSEBOOK, p. 72; LISTENING - CORPORATE BRANDS E> TASK Complete the sentences with information from the listening exercise: 1. The two areas in which the manager has been involved in are a) _ b)_______________________. 2. A good corporate and brand image will a)____________and b) its products and services from all others. 3. The price is a a)_________________________ and a company and in terms of competitors. 4. The brand identity doesn 't matter in situations where there are a)____________________________. 5. Companies can check the effectiveness of their corporate brand through a)______________ which means b)_____________________________everything the company produces. These should be done every c)_ _, ideally. 6. Lots of big conglomerates with a variety of brands a)_______________________, while the brands are in the forefront. 7. People are more likely to remember a a)_________than a b)_______________. 8. When a company is involved in some wrongdoing and their reputation gets tarnished, it will usually a)_________________________. WORKBOOK, p. 34; READING Fashion brands today E> TASK Answer the following questions. 1. Why is it very hard today to make money out of exclusive custom-made garments? 2. Chanel is the only luxury brand these days which is making money. T/F 3. What is and in what context is Christian Lacroix mentioned? 4. How is the situation further reflected in the current number of fashion houses in Paris? 5. It is only luxury brands which have been hit by this crisis. Small and medium size businesses in the fashion industry manage to operate unaffected. T/F 6. What is the source of the troubles of mass market producers? 4 7. Fortunately, the future for upmarket as well as downmarket clothes producers in Europe looks good. T/F COURSEBOOK, p. 70; READING E> TASK Answer the following questions. 1. How would you describe Mr Bernat's strategy? 2. What was innovative about a lollipop compared to other types of sweets? 3. What name did he choose for his product and why: 4. What role did Salvador Dali play in the Chupa Chups story? 5. How quickly did Mr Bernat manage to establish a very firm position on the Spanish market? 6. What does the revamp of the Chupa Chups image consist in? COURSEBOOK, p. 74 D+D The two faces of Burberry E>TASK Complete the gaps with the words you hear: This is a tricky situation indeed, though not unusual. Managing success in the luxury brand business is almost as difficult as getting to the top in the first place. With the sales of brands like Burberry increasing as they are, 1._____________________________________(3 words). I mean, look at the CEO at Dior - he 2.__________________________(4 words) in six years and that shows it is possible to expand a brand and keep it exclusive. However, the Burberry case is a little more complicated as some of the new 3. _____________________(2 words) are famous for bad and even sometimes dangerous behaviour - a truly complicated dilemma. I think though, I would have to say they should 4._____________ .! (5 words) And _____________(5 (1 word) the new markets. The increased sales 5._______________________ it doesn't look like the alternative markets 6._____________________ words). Their website does note its "broad appeal" in its "About us" section, even though it only features people who look very wealthy and conventional. For the moment, they seem to be 7.___________________________________________. (6 words) I think they should fully exploit these new market opportunities while they 8._____________,(1 word) but I guess they are too afraid 9.___________________________________. (5 words) E>TASK Answer the following questions: 1. Describe the beginnings of the company. 2. What is it a trademark? 3. Who were the original target customers of Burberry? 4. When was the company hit /faced with a crisis? 5. Who was responsible for the revamp of the image? 6. How was the revamp achieved? 7. Was this marketing strategy successful? 8. Did the marketing strategy manage to reach other than intended target audience? 9. What voices can you hear in the company today in terms of its future strategy? 10. Give details, advantages and disadvantages of choosing to extend the brand or not to extend the brand. COURSEBOOK, p. 71.2; READING E>TASK Answer the following questions: 1. What are companies in highly competitive electronics industry discovering these days? 2. This trend was demonstrated by which company? 3. What is Samsung 's position on the market at this moment? 4. What was the secret which Samsung uncovered? WORKBOOK, p. 35; LISTENING E>TASK Answer the following questions: 1. What was Intercontinental part of in the past? 3. How well has IC done since then? 4. The list of place where IC has been sold includes which countries 5. Why are they selling so many of their hotels when the business is thriving again after three difiicult years? E> Translate: to be under close review = ___ U8 - wordformation (BOTH BOOKS) 1. Gucci took note of this and expanded. , opening stores in _________________locations. (POPULAR, AGGRESSION, GLAMOUR) 2. He concentrated on producing_______________high-quality products. (FABLE) 3. He managed to integrate____________advertising and communication campaigns. (LABOUR) 4. Once part of Six Continents, Intercontinental_________________in April 2003. (MERGE) 5. Prada has parted company with Helmit Lang after persistent_____________. (LOSE) 6. The effect can be_______________. (DEVASTATE) 7. This is another_____________brand. (LOSE - MAKE) 8. The main cause of the mass market's troubles is____________ 9. The Federation Frangaise de la Couture is France's main fashion. from overseas. (COMPETE) ___________. (ASSOCIATE) 6 B Form of adverbs • Many 'how' adverbs are formed by adding -ly to an adjective. A few add -jj -ally, or -ily, depending on the spelling of the original adjective. slow - slowly slight - slightly careful - carefully Ml - fully dramatic - dramatically steady - steadily • Sonne adverbs and adjectives have the same form. Examples include fast, hard, early, late, high, low, right, wrong, daily /weekly /monthly /quarterly. This is a fast machine, acj.l This machine goes very fast iadv.! Iťs a hard decision an. He s working very hard at the momenr. fad*) • Note that the adverb hardly is not related to the meaning of hard. It's so noisy I can hardly think {-hardly' s almost not) • Note that good is an adjective and well is an adverb. She's a good negotiator She negotiates well E Adjectives ending -ing and -ed • Adjectives ending -ing describe something we are reacting to (outside us). Adjectives ending -ed describe our feelings and reactions (inside us). The meeting was very interesting. I mas interested in your idea about outsourcing. Asm Online president Kenn Randolph says he dots not concentrate an the number of customers because he is not really interested in mass marketing. 'lam interested in quality maéeting,' Randolph fays, 'lie katv 100,000 customers, which is an interesting number, but í am mt managing lite business based on that: (business review weekly website) Other pairs like this are' bored/boring, confused I confusing, excited'/exciting, fascinated/fascinating, surprised'/surprising, tiredliirmg I found her comments quite surprising. I was surprised by her comments. Compare adjectives ending in -ing and -ed: You can say: You can say: boring. • I'm bored with my job. interesting. • I'm not interested in my job any more. • My job is tiring. • I'm always tired when I finish work. satisfying. • I'm not satisfied with my job. depressing, (etc.) • My job makes me depressed, (etc.) The -ing adjective tells you about the job. The -ed adjective tells you how somebody feels (about the job). Compare these examples: interesting interested • Julia thinks politics is very interesting. • Julia is very interested in politics, (not 'interesting in polities') • Did you meet anyone interesting at • Are you interested in buying a car? I'm the party? trying to sell mine. surprising surprised • It was quite surprising that he passed • Everybody was surprised that he the examination. passed the examination. disappointing disappointed • The film was disappointing. I expected • I was disappointed with the film. I it to be much better. expected it to be much better. shocking shocked • The news was shocking. • We were very shocked when we heard the news. Look at these examples: • Our holiday was too short - the time went very quickly. • The driver of the car was seriously injured in the accident. Quickly and seriously are adverbs. Many adverbs are made from an adjective + -ly: adjective: quick serious careful quiet heavy bad adverbt quickly seriously carefully quietly heavily badly For spelling, see Appendix 6. Not all words ending in -ly are adverbs. Some adjectives end in -ly too, for example: friendly lively elderly lonely silly lovely Fast/hard/late These words are both adjectives and adverbs adjective • Jack is a very fast runner. • Ann is a hard worker. • The train was late. Lately = 'recently' • Have you seen Tom lately? adverb Jack can run very fast. Ann works hard, (not 'works hardly') I got up late this morning. II We use adjectives after be/get/become/seem: • Be careful! . I'm tired and I'm getting hungry • As the film went on, it became more and more boring. G> > I > D c_ m O H < m > D < m TJ DO C/> Your tríend seems very nice. We also use adjectives to say how somebody/something looks, reels, sounds, tastes or. smells: • You look tired. /1 feel tired. / She sounds tired. • The dinner smells good. • This tea tastes a bit strange. But to say how somebody does something you must use an adverb (see Units 99-100): • Drive carefully! («of 'Drive careful') • Susan plays the piano very well, [not 'plays...very good') Exercise 6 A B <£ 42 Read this report about the convergence of mobile phones and handheld computers. Underline either the adjective or adverb each time. Hs«™ (l) stteßgejslnmgely, but some people are walking around with a mobile phone, a handheld computer like a Palm, a pager, and even a notebook computer with a f2) coiwenttcnal/conventionally keyboard as well. These digital devices are converging (3) rapid/růpidly, but manufacturers are finding il difficult lo get all the parts to imegrate (■!) proper /properly. Contemporary mobile phones look (51 good/well, an? relatively 61 good/well at sending short text messages, but don't work (7) good/wtll as handheld computers. They lack memory, synchronise Slrwr/My with desktop PCs, and are not The Net: anywhere, anytime, in the palm of your hand (9) [Ey/aĽily to use for writing emails. Searching for an address-book entry or scrolling through a contact list is (10) sbw/sfe/y, although once you find the name you can call the person (11) dnrct/aimtly by just touching the phone number. Of course the big issue in the future is Internet access - it needs to be fast. (njoey/rasuy and (13) cheap !áxnp\y, but stäl allow phone companies to make a profit Things are moving very (14) aukk/auicily in this area, and the manufacturers who succeed in getting everything (15) rigJii/njWy are going to make (16) Jrnee/7iuef/y profits. Exercise 3 A Complete the sentences with one word from the list A and one word from list B A: badly completely easily extremely heavily quite unexpectedly we4 6: delayed designed helpful illegal late rnado promoted recognisable 1 This suitcase is very.............wall nAde. It will last for years and years. 2 The new product is being .............____....................... You see the adverts everywhere, 3 This website is very...............................................I can't find the information I need. 4 You've been.............................................. I really appreciate it, 5 Our offices are...............................................Lookout for the large flags at the front 6 I'm sorry, my flight has been............................................. I'll call you when I arrive 7 Taking bribes is...............................................You'll lose your job if they catch you 8 I arrived at the presentation ....................................... and missed the first part 97.3 Complete the sentences using one of the words in the box. amusing / amused annoying / annoyed boring / bored confusing / confused disgusting / disgusted exciting / excited exhausting / exhausted interesting / interested surprising / surprised 1 He works very hard. It's not..surprising triat he's always tired. 2 I've got nothing to do. I'm....................................... 3 The teacher's explanation was..................................,................Most of the students didn't understand it. 4 The kitchen hadn't been cleaned for ages. It was really............................ 5 I seldom visit art galleries. I'm not particularly „................................ in art. 6 There's no need to get.................................................. just because I'm a few minutes late. 7 The lecture was .................................,.................I fell asleep. S I asked Emily if she wanted to come out with us but she wasn't 9 I've been working very hard all day and now I'm....... 10 I'm starting a new job next week. I'm quite...................................................about it. 11 Tom is very good at telling funny stories. He can be very...................... 12 Liz is a very...................................................person. She knows a lot, she's travelled a lot and she's done lots of different things. 98.3 Complete each sentence with a verb (in the correct farm) and an adjective from the boxes. feel smell look sound taste awful nice fine interesting wet 1 Ann .seemed upset . this morning. Do you know what was wrong? 2 1 can't eat this. I've just tried it and it.................................................... 3 1 wasn't very well yesterday but I...................................................today. 4 What beautiful flowers! They...................................................too. 5 You...................................................Have you been out in the rain? 6 Jim was telling me about his new job. It..........,................................quite , much better than his old job. 98.4 Choose the correct word. 1 This tea tastes a bit ..strange, (strange/strangely) 1 1 always feel ........when the sun is shining, (happy/happily) 3 The children were playing................................in the garden, (happy/happily) 4 The man became...............................when the manager of the restaurant asked him to leave. (violent/violently) 5 You look..............................,J Are you all right? (terrible/terribly) 6 There's no point in doing a job if you don't do it.................................(proper/properly) 99.3 Complete each sentence using a word from the list. Sometimes you need the adjective (careful etc.) and sometimes the adverb (carefully etc.). careful(ly) complete(ly) continuous(ly) financial(Iy) fluent(ly) happy/happily nervous(ly) perfect(ly)________quickjl^_______special(ly) 1 Our holiday was too shon. The time passed very ...quickly.. 2 Tom doesn't rake risks when he's driving. He's always 3 Sue works........... ................... She never seems to stop. 4 Alice and Stan are very..............................., married. 5 Monica's English is very................................although she makes quite a lot of mistakes. 6 I cooked this meal................................ for you, so I hope you like it. 7 Everything was very quiet. There was................................silence. S I tried on the shoes and they fitted me................................ 9 Do you usually feel........ ..................... before examinations? 10 I'd like to buy a car but it's................................impossible for me at the moment. 100.2 Complete these sentences using well + one of the following words: balanced behaved done dressed informed kept known paid 1 The children were very good. They were ..well-behaved, 2 ľ"m surprised you haven t heard ol her. She is quite 3 Our neighbours' garden is neat and tidy. It is very 4 You should eat different types of food. Your diet should be........................ 5 Ann knows a lot about many things. She is quite......................................... 6 His clothes are always smart. He is always................. 7 Jill has a lot of responsibility in her job but she isn't very 8 Congratulations on passing your examinations.................................. i 100.3 Are the underlined words right or wrong? Correct the ones that are wrong. 1 I'm tired because I've been working hard.....ÜüSHT... 2 I tried hard to remember her name but I couldn't........................................... 3 This coat is practically unused. I've hardly worn it............................ 4 She's a good tennis player. She hits the bail hardly. 5 Don't walk so fast! I can't keep up with you..................................... 6 Why are you walking so slow? Are you tired? PJI2A Review Test Intelligent Business: Unit 8 - Brands II. Vocabulary: (max. 34 points) points A. Translate the following expressions into English: padělané výrobky oslabující značku [výrobku) -dosáhnout u zákazníků věrnost značce -____ (2 points each) uvážlivě se vyhnout nadměrné publicitě (výrobku) — čelit značně velkým výzvám v umění jednat s lidmi vybudovat si renomé za renovaci (vylepšení) zboží — odlišit oděvy na zakázku od konfekce -__________ úspěšně na sebe neupozorňovat jako firma -____ ztrátové středně velké firmy jdoucí ke dnu -______ B. Write expressions the following definitions refer to: (2 points each) 1. using a successful brand name to sell new types of products; a new product that is sold using an existing brand name: 2. the act of making changes to the form of something in order to improve its appearance, how efficiently it works, etc.: C Complete the sentence with one ofthefolhwingphrases; translate the selected phrase: CLIENT BASE, PRICE, CUSTOMERS, LOLLIPOPS, PURVEYORS, ACCOLADE (2 points each) 1. Guccio Gucci deserved at least one . company. In C^ech or Slovak:____________ for building his successful 2. We have to fight against the diminishing of our In C^ech or Slovak:______________________ 3. None of our accused of contractual failure. In C^ech or Slovak: D. Complete the sentences with correct forms of the following verbs; some verbs are not used: STREAMLINE - DETRACT- EXPAND - ANTICIPA TE REVIVE - REINFORCE - SUSTAIN - CONVEY (1 point each) 1. IBM has decided . 2. The message____ . the idea of producing colorful laptops. . to the public through mass media. 3. In my opinion, potential conflicts should always . possible. 4. Celebrity endorsement should________________ campaign. ,if our main message in the E. Complete each sentence with a word made from the word given in brackets. (1 point each) /. We came______ started. (LATE) 2. The___________ to the theater - the performance had already (SIGN) 3. Retailers (INCREASE) 4. The company wants to . (SOURCE) _ of our products is accompanied with an identifier. ____prefer checking their brand effectiveness. _________________its production overseas. III. Grammar: (max. 30 points) points A. Fill in the gaps with a suitable preposition or adverbial, if necessary: (1 point each) 1. 2. 3. 4. 5. 6. The management has approved . _____all our suggestions. Bad news concerning the firm will result_________the decrease in sales. Brand extension can detract_________your exclusivity image. The new logo conjures_________the idea of a strong and wealthy firm. Coca-Cola is the biggest rival. . Pepsi. A few years ago the market was crowded . small firms. B. Rewrite the sentences with the given words so that they mean the same as the original ones: (3 points each) 1. The taste of the soup was great although its appearance was quite bad. The soup tasted_____________________although it looked___________________________. 2. The successful promotion of this product caused that people started buying it. The________________________________________product started being bought by people. 3. We have had a very friendly talk. We talked______________________________________________________________________. C Put the VERBS and other words in brackets into their correct forms, add prepositions, particles or auxiliary verbs if necessary. You may need to use the passive forms of the verbs: (1 point each) Hugo Boss______________________________________ new advertising campaign recently. There was no point. because the competitors were likely_________________ (DECIDE, RISK, LAUNCH) a ____________________(WAIT) it _____________________(MAKE, attempt, ATTACK) HB's position on the market. And they could . _______________________(SUCCEED, THREATEN) HB by using celebrity endorsement. D'Orsay, for example, _____________________________________________________ (LOOK FORWARD, COOPERATE) Jennifer Lopez, who is going to be their main star. Although JLo______________________________________(lately, DENY, USE) as the brand-attraction, rumours still spread. Other companies_____________________________________(even, TRY, TARNISH) the reputation of HB. It is obvious that HB always__________________________ (OBJECT, USE) such techniques but it is not always possible __________(EXPECT, competitors, BEHA VE) in a fair way. D. Choose suitable words or phrases that can complete each sentence. The number of correct answers is 0 — 4. (2points each) 1. I think your speech was_______________________. A: extremely dramatical C:made extremely dramatically 2. The teacher was very____________ B: extremely dramatic D: made extremely dramaticly and the students were____________ A confusing ... boring B: confused ... bored 10 C: boring ... bored 3. The idea which came too . A: late ... silly C: soon ... lovely D: bored ... depressing B: lately ... interesting D: fast... well IV. Translation: (max. 16 points) points Translate the following sentences into English: Hlavní príčiny neúspěchu firem v podnikání zahrnují slabou cenovou politiku, příliš mnoho rozmanitých výrobků nebo poskytování licencí příliš mnoha obchodníkům; na druhou stranu může vysoké povědomí o identitě značky udělat zázraky. Dalším faktorem jsou též rostoucí mzdové náklady nutící firmy snižovat výrobu nebo ji přesunovat do zahraničí, protože pokud chtějí masoví producenti přežít, nemohou si dovolit mít přetrvávající ztrátu. UNIT NINE - INVESTMENT A bear a person who_____________shares, a particular currency, etc., hoping to_____________(3 words) later at a_____________price because they think prices are going to___________rather than_____________. A bull a person who__________shares, a particular currency, etc., hoping to _ afterwards at a___________price because they think prices are going to COURSEBOOK, p. 75; INTRODUCTION E> TASK Answer the following questions: 1. How do many businesses start? 2. Where do funds come from? 3. Who are business angels? 4. Who are fund managers? 5. What are ethical investments? COURSEBOOK, p. 77; READING E> TASK Answer the following questions: 1. Do people always make rational and wise decisions about their professional future? What do they mostly based their vital decisions on? 2. Who is Daniel Kahneman and what is he famous for? 3. Professor Kahneman advice is often sought by many investors. T/F 4. People usually show an enormous interest in getting to know the roots of their poor decisions. T/F 5. When investing in stocks and shares people base their decision on long-term returns of their previous investments. T/F 6. In which other areas of life do people's expectations prove to be unrealistic? 7. Unlike in the area of personal relationships people are never guided by their first impressions when it comes to negotiating a price with a new acquitance. T/F 8. How do the above mentioned human characteristics affect the decision making process? What does the author of this article advise companies/managers to do? 9. What is it bias? 10. What is the so called homebias? 11. How is fear of failure demonstrated in the way people value gains and losses? 12. Pople usually spend too much time making small decisions at the expense of big decisions. T/F (give the example from the text). ___(3 words) rather than 12 13. Why is it not wise to spend too much time regretting past decisions? How can regretting past decisions show in the behaviour of investors? 14. Why are governments more likely to behave irrationally than businesses ? COURSEBOOK, p. 79; READING E> TASK Answer the following questions: 1. How would you comment on the risk involved in buying fine art as an investment? 2. Why do people invest in works of art? 3. The market price for works of art is always accurate.T/F 4. Which factor does prevent many investors from investing in works of art? 5. Have their been some spectacular losses in the industry? COURSEBOOK, p. 80; LISTENING \E> TASK Complete the text with the words and phrases you hear: BH: Yeah, it's been a very good year for us. But it took some time to get to this point, although I guess I knew we could do it. It's profit that drives me. I know I said I love great clothes 1.____________________( 2 words) , but what your first priority has to be is making money, you know what I mean. That is the key to success 2._____________________________________(5 words). Int.: Can you relax 3._________________(2 words) you 've established the brand? BH: 4._______________________ (3 words) . In my business you have to keep 5._____________________________(2 words) , investing in design and marketing, and hope you get noticed by the best retail outlets. There is so much competition 6._______________________(2 words) and they're all cutting costs in a very price-sensitive market. But it isn't being the cheapest 7.____________________(2 words) . What 8.__________________________________(5 words) is knowing where to cut costs and where to invest. Int.: And what is the next investment? BH: Well, I'm proud to say we're planning to launch our first environmental product line this year, a T-shirt line made from 100% grown-in-the-USA 9.________________________(3 words) . There is a huge market for that kind of environmentally friendly product. Int.: That sounds like an interesting development. BH: Yes, but I may not 10.__________________________________(5 words) - I'm thinking of 11. ______________________________________(5 words) as a venture capitalist, or rather a business angel. It's the excitement you get at the beginning of a venture 12.___________________(3 words). And I prefer the image of angel because that would mean being more involved than just a venture capitalist, you know, and it's the 13._______________________(3 words) that really interests me. COURSEBOOK, p. 81; CAREER SKILLS E>TASK Complete the text with the words and phrases you hear: 13 OK, hold on, let's just sum up what has been decided so far and then if 1.____________________ (4 words) , we can continue to prioritise 2.__________________________________(5 words) . We all agree that it is 3._____________________________________(5 words) for the companies we want to trade in, right? Otherwise, we'll never 4.___________________________________(5 words). Now, I know it would be useful to establish relationships with the CFOs of companies on our list, but we don't have to do that now. I'm afraid we can forget about a trip to Frankfurt - it 5. _______________________________(4 words) , and we're going to recruit specialists for the job, anyway. Right, what next? Well,maybe the next step should be to start the 6.________________________(2 words)....... COURSEBOOK, p. 82; D+D \E> TASK Answer the following questions: 1. Where does the money of the brothers come from? 2. What do the two brothers have in common, apart from the money? 3. How do they want to invest the money? 4. Describe the situation in the industry in which they want to invest. 5. What are their long-term plans with the T-shirt business? WORKBOOK, p. 39; LISTENING E> TASK Translate: 1. Zvraty v jeho kariéře =______________________ 2. neschopen získat finance z konvenčních zdrojů = 3. uskutečnitelné obchodní plány =_____________ 4. vypadat nedostatečně kvalifikovaný = E> TASK Complete the text with the words/phrases that best fits the context of the listening exercise. 1. Steve Walker is going to talk about___________________________(4 words) in his career. 2. ART provides loans at commercial rates to businesses and enterprises that have been ___________________________________________(4 words)from conventional sources. 3. This model___________________________(4 words) by other finance institutions. 4. A lot of people worry that they_________________________________________(6 words) if they ask for help. 5. So, if I have a problem or am concerned about a_________________________(4 words), I can ask them for guidance. 6. Always be open to new ideas and don't be afraid to turn to someone outside of your field. It gives you a different viewpoint and lets you see the situation__________________________(4 words). 7. Our remit is to encourage enterprise to__________________(1 word) ;_________________(1 word) lending money we want to help our borrowers to_________________(1 word). 8. I made a mistake during the early stages of ART when I was trying to___________________(2 words). I planned to have 50,000 flyers______________________________(4 words) the service. My idea was to distribute 10,000 of them and I thought it would be a good idea to __________________________________(4 words) a magazine that went out to all the wealthy homes within the area. 14 9. If I_________________________________( 4 words) people more knowleadgeable in this field than myself, I_____________________________(5 words) a lot better and hopefully gained a ______________________(2 words). 10. So my worst decision also___________________(2 words) my best decision. 11. The worst thing you can do in business is to________________________(4 words) new ideas and interpretations of a problem or idea. U9 - wordformation (BOTH BOOKS) 1. Business angels give_________________advice. (ENTERPRISE) 2. It is important to make________________________________. (ETHICS, INVEST) 3. He_____________________increased the risks,________________accounts and lost a staggering total of £208m. (SYSTEM, FALSE) 4. His companies are very_________________. (INNOVATION) 5._________________finance applies___________________insights to economics. (BEHAVE, PSYCHOLOGY) 6. People put a lot of_________________on what they have experienced_____________________. (EMPHASIZE, SELF) 7. Fear of__________________is another strong human characteristic. (FAIL) 8. People spend__________________too much time on small decisions and not enough on big ones. (PROPORTION) 9. Regretting past decisions also colours people's______________of the future. (PERCEIVE) 10. Governments face a whole range of____________________________pressures. (CONFLICT, POLITICS) 11. Blue-chip shares will almost certainly pay a_______________of 4% even in poor economic conditions. (MINIMIZE) 12. Art is___________________overvalued and the industry is '_____________________for assessing value_____________________. (FREQUENCY, not FAMOUS, not ACCURATE) 13. It has been sold for an__________________of the original price. (EIGHT) 14. What does he say about_________________________friendly products? (ENVIRONMENT) U9 -REVISION VOCABULARY: 1. nespecializovat se na terminované obchody a obce = 2. utrpět obrovské ztráty =__________________________ 3. rozvážný investor nikdy nejednající ukvapeně = 4. čelit rozporuplným politickým tlakům =________ 5. právo, ale ne závazek uskutečnit transakci = 6. zaručený dlupopis vydaný vládou =________ 7. znovu investovat zisk do jiných riskantních podniků a méněcenných dlupopisů = 8. mít nejlepší šanci na úspěch mezi absolventy MBA =_____________________________________ Definitions: 1. shares in a well-managed company with a record of paying profits to shareholders during good and bad economic conditions =___________________ 2. a new business activity or project that involves risk =__________________ Words and phrases: FUTURES; OPTIONS; BOOM YEARS; INSIGHTS; BANKRUPTCY; PORTFOLIO 1. He is the infamous trader who caused the_________________of Barings Bank. 15 In Czech: _______________ 2. During the________________, a period of wealth and success, companies tend to waste their energy and resources. In Czech: _______________ 3. Behavioural finance is a science which applies psychological_____________to economics. In Czech: _______________ Verbs: FORECAST; ASSESS; QUOTE; FALSIFY; AFFECT; PAY; LET; INVEST 1. He falsified accounts, i.e. deliberately put wrong data in them, and lost a staggering total of £208m. 2. The asking price quoted by the seller tends to become accepted as the price around which negotiations take place. 3. Blue-chip shares will almost certainly pa v a minimum of 4% even in poor economic conditions. 4. How does regretting bad decisions affect stock market investors' future decisions? GRAMMAR: Prepositions: 1. Why don 't companies abandon projects_______which they are losing money? 2. Why are people more concerned__________losses than profits? 3. Why is it irrational to invest only_______your home country? 4. The industry is infamous________assessing value incorrectly. 5. It's difficult to overemphasize the risk involved______buying fine art as an investment. 6. What task can I delegate and assign_______somebody else? Sentence transformation: 1. They shouldn't have expanded their portfolio on any account, because their track record was very poor. On no_____________________________________________________. 2. We don 't want to raise prices. What we____________________ 3. Profit drives him. It_________________________________________________. TRANSLATION: 1. První cena navržená prodávajícím při prodeji nemovitosti bývá všemi stranami obvykle akceptována jako cena, o níž se dále diskutuje, ať je tato cena jakkoliv nepřesná nebo dokonce nečestná. 2. Čím dříve bylo rozhodnutí učiněno, tím těžší je jej opustit. Review Test PJI2A Intelligent Business: Unit 9 - Investment 16 II. Vocabulary: (max. 34 points) points A. Translate the following expressions into English: (2 points each) ne specializovat se na terminované obchody a opce -_____________________________________ utrpět obrovské ztráty -_____________________________________________________________ rozvážný investor nikdy nejednající ukvapeně -__________________________________________ čelit rozporuplným politickým tlakům -________________________________________________ právo, ale ne závazek uskutečnit transakci -_____________________________________________ zaručený dluhopis vydaný vládou -____________________________________________________ znovu investovat (1 word) zisk do jiných riskantních podniků (1 word) a méněcenných dluhopisů — mít nejlepší šanci na úspěch mezi absolventy MBA -_____________________________________ B. Write expressions the following definitions refer to: (2 points each) 1. shares in a well-managed company with a record of paying profits to shareholders during good and bad economic conditions: 2. an investor who helps new companies develop by lending them their own money, which may involve a lot of risk: C Complete the sentence with one ofthefolhwingphrases; translate the selected phrase: (2 points each) FUTURES, OPTIONS, BOOM YEARS, INSIGHTS, BANKRUPTCY, PORTFOLIO 1. He is the infamous trader who caused the__________________________of Barings Bank. In C^ech or Slovak:______________________________________________ 2. During the__________________________, a period of wealth and success, companies tend to waste their energy and resources. In C^ech or Slovak:______________________________________________ 3. Behavioral finance is a science that applies psychological__________________________to economics. In C^ech or Slovak:______________________________________________ D. Complete the sentences with correct forms of the following verbs; some verbs are not used: (1 point each) FORECAST-ASSESS- QUOTE - FALSIFY AFFECT- PAY-LET- INVEST 1. He_______________________accounts, i.e. deliberately put wrong data in them, and lost a staggering total of €208m. 2. The asking price__________________________the seller tends to become accepted as the price around which negotiations take place. 3. Blue-chip shares will almost certainly________________________a minimum of 4% even in poor economic conditions. 4. How does regretting bad decisions___________________________stock market investors' future decisions? E. Complete each sentence with a word made from the word given in brackets. (1 point each) 1. John has stopped all his___________________________activities. (ENTREPRENEUR) 2. Have you______________________________the tasks you are supposed to do this week? (PRIORITY) 17 3. Buying the shares now is you can earn a lot of money but you won't have any money for the production expansion at the moment. (PRODUCE) 4. This banker is my - we met at a conference two years ago. (ACQUAINT) III. Grammar: (max. 30 points) points A. Fill in the gaps with a suitable preposition or adverbial, if necessary: (1 point each) 1. 2. 3. 4. 5. 6. Why don't companies abandon projects________which they are losing money? Why are people more concerned________losses than profits? Why is it irrational to invest only________your home country? The industry is infamous________assessing value incorrectly. It's difficult to overemphasize the risk involved________buying fine art as an investment. What task can I delegate and assign . somebody else? B. Rewrite the sentences with the given words so that they mean the same as the original ones: (3 points each) 4. They shouldn't have expanded their portfolio on any account, because their track record was very poor. On no account__________________________________________________________________. 5. We don't want to raise prices as we'd lose some of our customers. What we______________________________________________________________________. 6. Profit as well as satisfaction from well-done work drives him. It_____________________________________________________________________________. C Put the VERBS and other words in brackets into their correct forms, add prepositions, particles or auxiliary verbs if necessary. You may need to use the passive forms of the verbs: (1 point each) Many financial institutions are now___________________________________________(HA VE DIFFICULTY, FINANCE) their operations because of the financial crisis. Economists mostly_____________________________________________________(ADVISE, they, PLAN, GET READY) lower profit and higher risks. Governments_____________________________ economies in their GDP. Every effort___________ crisis is appreciated not only by experts. (URGE, START, SUPPORT) foreign investments, as national ________________________(likely, EXPERIENCE) a decrease ______________________________________(AVOID, HIT) the (DISCUSS, opportunities, INVEST, safe) has become a major issue for many fund managers. Shareholders _______________________________________ (recent, SURPRISE) managers' failure to earn the promised profits. The income __________________________________________ (SEEM, KEEP, DECREASE) last month, which was bad news. However, a positive trend________________________________________ (EXPECT, BEGIN) in the following quarter. D. Choose suitable words or phrases that can complete each sentence. The number of correct answers is 0 — 4. (2points each) 1. The investment fund could buy shares of________banks_____ A: either ... and also B: either... or C: neither... but D: neither ... nor ________, the financial crisis can last longer than most people think. A In conclusion B: In general C: Either D: On the whole insurance companies. 3. Certain measures others, aren't very popular. A: such as increasing the interest rate, refusing to lend money or B: for example C: like D: for instance IV. Translation: (max. 16 points) points Translate the following sentences into English: Michael Connel se stal známým jako spoluzakladatel jednoho slavného a úspěšného investičního fondu i svým výkonem v oblasti vyhledávání bezpečných a rychle rostoucích výnosů z investovaného majetku. Spíše než tradičním metodám hodnocení rizika důvěřoval svému instinktu a zkušenosti. Ačkoliv jeho předpovědi vývoje akciového trhu nebyly vždy zcela přesné, většinou byl jeho úsudek správný a jeho rozhodnutí přinášela klientům vysoké příjmy. UNIT TEN -ENERGY E> TASK (Keynotes) Complete the text with the most suitable words, the first letters of the words are given. All businesses depend directly on the energy sector, which is the largest single market in the world. Some energy companies trade in 1. f___________ f_____________ (coal, gas and petroleum) while others supply electricity or fuel to end users. Many of the products derived from petroleum, like 2. p________, chemicals and 3. f_______________, are essential components or ingredients for industry. As petroleum 4. r_____________ become scarcer, this drives up oil prices and encourages companies and governments to develop alternative or 5. r______________ energies. Increasing energy consumption is creating pollution and causing 6. g_________ w_____________, a problem some countries are addressing through the 7. K___________Agreeement. COURSEBOOK, p. 87; READING \E> TASK Answer the following questions: 1. The fact that gasoline prices have reached their highest mark ever in the US is directly related to which fact? 2. What worries the public more the high prices and long queues at the pump or the fact the number of available global oirl reserves is shrinking? Why would be oil companies interested in boosting reserve estimates? 4. Who else is interested in having inflated reserve estimates? 5. Name another mentioned reason for which it is very convenient for a specific country to have/claim to have very rich oil reserves? 6. The exact quantity of oil owned by a particular company is determined by both the respective country and an international panel of specialists. T/F 7. What do the geologists say about the quantities the countries claim to have? 8. How would the situation change if the number of oil reserves really started to decrease? 9. Name petroleum-dependent products 10. In a situation with very few global oil reserves available why will it become uneconomic to drill the remaining oil? 11. How do governments and private business define an oil shortage? Do geologists and common sense people share their view? 12. What do the optimistic oil-reserve estimates also fail to take into account? 13. What would be the best-case scenario for the world if there really was an oil shortage? 14. Why can 't we take the official estimates of oil reserves for granted? UIO - wordformation, BOTH BOOKS 1. Companies are encouraged to develop_________________energies. (NEW) 2. Overfishing has led to a serious_______________of cod, haddock and whiting. (DEPLETE) 3. Many countries are___________on fossil fuels. (RELY) 4. The increase in the prices has been______________. (not, SIGNIFY) 5. It's hard to stay_________________when discussing these sensitive issues. (PART) 6. When_______________acid arrives at the factory, it's taken off the lorries. (SULPHUR) 7. We're going to go for natural________________in the offices rather than installing air________________________. (VENTILATE, CONDITION) 20 8. We are going to have a look at the products we manufacture, such as________________ and__________________. (CHEMISTRY, FERTILISE) 9. The publication makes the case for reducing the___________________of, and _____________________on, fossil fuels. (CONSUME, DEPEND) 10. The world 's oil______________will run_______________low by 2050. (SUPPLY, DANGER) 11. Essential petroleum-dependent products will be unavailable or___________________. (not, AFFORD) 12. It would be_____________________not to question their estimates when the official figures are so notoriously__________________. (not RESPONSIBLE, not RELY) 13. This would accelerate the already_________________effects of global warming. (NOTE) 14. If not alternative energy source is found to replace petroleum, many everyday products will become_________________________________________. (PROHIBIT, EXPEND) 15. Governments will be increasingly reluctant to_____________________________power, and plans to build costly atomic________________will__________________be shelved. (SUBSIDY, NUCLEUS, REACT, CONSEQUENCE) COURSEBOOK, p. 89; READING \E> TASK Which words mentioned in the text are defined by the following? 1._____________= imagined sequence of future events 2.___________= said of sth which can continue or last for a long time 3._______________= supplies of sth such as money, labour, etc. that an organization or a person has and can use 4._______________= A), a situation that exists now because of events, actions, etc. that took place in the past, B). money or property that is given to you by sb when they die 5.________________= unwilling and therefore slow to cooperate, agree, etc. 6._______________= to make an arrangement with a company in which you pay them regular amounts of money or make a single payment and they agree to pay you money, for example if you die or are ill/sick, or if you lose or damage sth 7._____________= to become less or smaller; to make sth less or smaller COURSEBOOK, p. 89; LISTENING E> TASK Based on the information in the exercise complete each gap with ONE most suitable word: 1. Non-renewable a)_____________to all the energies that depend on using mineral or petroleum resources, which you can use only b)______________. 2. If you produce a barrel of oil to produce electricity, that energy will never be_________________ 3. Renewable energy__________________from the sunlight. 4. The action of the sun on the atmosphere creates wind and also a)_________________________ heat which makes water b)_________________. 5. Geothermal energy uses the heat which is under the a)_____________of the earth, and b) ______________energy, which uses the c)__________________effect of the moon. 6. Alternative energy will play an important role in the future because its sources are_________________. 7. Unfortunately, there's no way you can suddenly_______________to using only renewable energies. 21 8. The wind doesn 't always blow so you have to a) _ in the amount of energy that can be produced. 9. Renewable energy can help but it won 't provide a E> TASK (based on 88/Negative prefixes and 89/Energy sector) Translate the following: 1. neobnovitelné zdroje pozemních vod =__________________________________________ 2. počítačově negramotní dospělí =_______________________________________________ 3. nezodpovědné chování =________________________________________________ 4. nemanželské dítě =_____________________________________________________ 5. protizákonné používání zbraní hromadného ničení =__________________________________ 6. neudržitelný rozvoj =________________________________________________ 7. nevyjednatelné podmínky =________________________________________ 8. neexistující vyčerpané zdroje =_________________________________________ 9. neplatné heslo =______________________________________________ 10. nestranný soudce =_______________________________________________ 11. Česká koruna na nepřijatelných úrovních =__________________________________ 12. zanechat pozitivní ekonomický odkaz =__________________________________________ 13. více a více neochotní dotovat atomovou energii =___________________________________ 14. omezený přístup k energii =________________________________________________ 15. odložené plány (na polici) =_______________________________________________ 16. stát se závislým na dovozu =________________________________________________ 17. přinucen přijat novou energetickou politiku =________________________________________ 18. přívod elektřiny přerušen výpadky proudu =_________________________________________ COURSEBOOK, p. 90; READING E> TASK Answer the following questions: 1. Why did NASA decide to abandon its Space Solar Power project? 2. What is NASDA doing at this moment? 3. What are NASDA's expectations as far as planning of the project is concerned? 4. Why does the public have a reason to think that despite the prohibitive costs Japanese project will succeed? COURSEBOOK, p. 91; CAREER SKILLS (PROBLEM-SOLVING) E> TASK Complete the three conversations with the phrases you hear. ® A: Hi, Ray. I thought I'd give you a call to see how things_________________________________. Everything going smoothly? B: I'd say we're doing OK, but we_____________________________________recently. A: Oh, really? Any idea________________________________? B: The engineers have found a problem with the power supply. It______________________________ and they don 't know why. A: Well, that doesn 't sound too good. How can___________________________? B: Why don 't we have a video conference with the supplier? They should be able to come up with some suggestions. © A: So, Don, can you give me___________________________________?_________________? 22 ____for b) solution. B: Nothing too serious, no. The next batch of samples should be ready by the end of the month. A: The end of the month! So,_____________________________? I thought we said they had to be ready for testing by the fifteenth. B: I know that's_______________________________________. But we haven't received some of the precision tools we ordered. A: Let's hope they're here soon, but if______________________________________________, we could extend the deadline. Why didn 't you tell me about this before,___________________? ® A: Hi, Alan. So, how did it go? B:__________________, actually. A: Really? Don 't tell me they're not going to sign the contract. B: Not just yet,_______________________. They say they'll only sign it if we give them a guarantee that we won 't raise prices by more than 2% a year. A: You can't be serious!________________________________________________________, not with energy prices as high as they are. How do you suggest we deal with this? B: I don 't know, but I think we'd better call head office first and see_________________________. COURSEBOOK, p. 92; D+D (THE POWER OF MONEY) E> TASK Answer the following questions: 1. What is the WB? 2. What activity is the Bank currently undertaking? 3. In what way will the role of the WB be critical in the coming years? 4. What project has the WB help financed in the past? 5. What dilemma is the Bank currently facing? WORKBOOK, p. 43; READING [£> TASK Answer the following questions: 1. What is it officially called and how and why do Londoners refer to it? 2. What is the most remarkable fact about the building? 3. Buildings are energy-guzzling machines. Explain. 4. Who is Green Building Aliance? 5. Explain the word proponents. 6. What do proponents of green buildings say? GRAMMAR - CONDITIONALS =t TASK 1 Rewrite the sentences using mixed conditionals: 1 We didn't order the parts at the end of June. They aren't here now. If_____________________________,_________________________ 2 We felt we could trust each other. Now we are partners. If_____________________________,_________________________ 3 He lost his driving licence. Now he has to take taxis everywhere. If_____________________________,______________________ 4 You didn't go on the course. You don't know how to operate the new equipment. 23 If 5 I went to school in France. Now I am bilingual. If_____________________________,_______ =t TASK 2 Read through the sentences. Put a tick S next to the ones that are right, and correct the ones that are wrong. 1 If I would have had the chance to study another foreign language, I would have learned Russian.__________________________ 2 We would have moved to a bigger hall if there had been any more people for the presentation. 3 The company had made bigger profits if they had been able to cut down on salaries. 4 If they had dealt with the complaint more quickly, they didn't receive so much bad publicity._________________________________ 5 If there wouldn't have been so many mistakes in the advertisement, we wouldn't have had to redo it. =t TASK 3 Put the verbs into the correct form. Choose either the past perfect (had done) or would + perfect infinitive (would have done). 1 If we_________(know) that the company was in financial difficulty, we would not have done business with them. 2 We would have won the contract if we__________(make) a better offer. 3 They_____________(go) out of business years ago if they hadn't invested in new technology. 4 Would sales have been higher if the price____________(be) lower? 5 If we_______(wait) a few more months, we would have saved a great deal of money on the new computers. 6 The company___________(move) earlier if it had found suitable premises. 7__________you________(accept) the new job if they had offered it to you? 8 If the flight had been delayed, I__________(stay) at the airport hotel. =t TASK 4 Read through the following sentences. Decide whether the events in them are likely( 1st conditional) or imaginary (2nd conditional), and put the verbs in brackets into the right tense. 1 If everyone_____________/CONTRIBUTE/10% of their salaries to charity, there would________/BE/ no poverty. 2 I am sure we_________/MEET/our targets if we_____________/MAINTAIN/ our current levels of sales. 3 If I_____________/BE/ in your position, I__________/INSIST/ on having more staff in the department. 4 Please have a seat. If you________/WAIT/ a couple of minutes, I________/GIVE/ you a lift. 5 I'm expecting a fax from Grayson's. It it___________/COME/ today, please________/LET/ me know at once. 6 I_________/APPLY/ for the job if I__________/HAVE/ a degree, but unfortunately I haven't. 7 What laws____________/YOU-CHANGE/ if you________/BE/ in Parliament? 8 I'm leaving now; I_______/BE/ back at 8:30 if the traffic__________/NOT-BE/too bad. =t TASK 5 MIGHT HAVE, COULD HAVE Match the first part of the sentences in column A with the right ending in column B. 1 If we had had the right figures, A he might have gone into insurance. 2 Could you have worked in Paris B they could have prevented the strike. 3 We might have lost a great deal of money C we could have avoided a costly error. 4 If they hadn't won that order, D if you had wanted to? 5 If he hadn't gone into banking, E if she had been more prepared. 6 If you had left earlier, F they might have had to close the factory. 7 Her presentation could have been better G if we hadn't taken our lawyer's advice. 8 If they had offered a 15% pay rise, H you might have got there on time. 24 =r TASK 5 Complete the sentence for each situation: 1. Emma didn't leave early, and so she missed her flight. If Emma had left early, she wouldn't have missed the flight. 2.1 forgot to bring your map, so I went to the wrong building. If I................................., I...........................................to the wrong building. 3. They didn't invest in new technology, so they didn't survive recession. If they..................................., they..........................................the recession. 4. The government didn't collapse, so there wasn't a crisis. If the government...................................., there.............................a crisis. =t TASK 6 Choose one or these verbs for each space in this text (about saving money for retirement): a) decided b) were c) would contribute d) would start e) started f) had started g) would cost h) would have contributed i) wanted j) could do k) would end up I) could have paid How many times have you heard, "If (1) ................................ you, I (2) ..................... saving now for retirement."? If you (3).....................to have £100,000 at age 65, you (4)..................it for as little as £31 per month. The earlier you start, the lower your monthly payments will be and the lower your total payment (the amount you contribute) will be. Look at Sandra. She's 24 now. Beginning next year, if she (5)....................investing £31 every month, she (6) ..............................only £14,880 in total over forty years. So, she'd invest less than £15,000 in total and receive £100,000 from her investment. Now, look at David. He's 55. If he (7)........................... investing at 30, he (8)...... only £46 every month and (9)...........................£19,320. But if he (10)............to start investing now, it (11)..............................£552 every month and he (12)...............paying a total of £66,240. Doesn't it make sense to start early? =t TASK 7 Choose the correct continuation for each sentence: 1.1 wasn 't taking notes, and now I can't remember what she said. a) I wish I took notes. b) I wish I'd taken notes. 2. This is a very unusual situation. a) I wish I'd known what to do. b) I wish I knew what to do. 3. Our offices are in the city centre and the rent is very high. a) I wish we were outside the centre, b) I wish we are outside the centre. 4. The gave the job to an external candidate, but now they regret it. a) They wish they hadn't done it. b) They wish they didn't do it. 5.1 can't enter the system because of I don't have the password. a) If only I would have the password, b) If only I had the password. 6. There are too many similar models on the market now. a) If only we launched our version earlier, b) If only we had launched our version earlier. 7. I'm worried about the meeting next Friday. We need to reach an agreement. a) I wish we succeed. b) I hope we succeed. B: Ways of introducing conditionals 1. Conditionals can be introduced in a variety of ways other than if. unless = means if not in the sense of except if. Can be used both in the beginning and in the middle of the sentence. o Unless there is a strike, I'll be at work tomorrow. in case = means the first action is a precaution (=preventivní opatření). It happens because the second action might happen. Compare: o I'll take my umbrella in case it rains. 25 o I'll take my umbrella if it rains. supposing / suppose/ imagine = mean the same as imagine if.........? or what if......? The condition here is more improbable, so they are more often found with the second and third conditionals. They come at the beginning of the sentence. o Supposing you could fly, where would you go? provided / providing (that), as / so long as with the first conditional. o I'll go to the party, provided you go. mean the same as on condition that. They are more often found In more formal styles if can be dropped and the auxiliary verb inverted. o Were you to question me about the matter, I would deny all knowledge. o Had I known that he was a journalist, I would have said nothing. Words other than if: Underline the correct word: a) Providing/Supposing there were no wars, would't that be wonderful? b) I'm going to take a cushion to the concert, in case / unless the seats are hard. c) We'll miss the beginning of the film, so long as / unless you hurry. d) Providing / In case you behave yourself, you can come to the party with us. e) Suppose / Were I your teacher, I 'd make sure that everyone did the homework. f) He will never be happy as long as / unless he's got that boring job. g) Had / Supposing I understood the problem, I'd have done something about it. h) Should / Provided you fail to pay this bill, court action will be taken. PJI2A Review Test Intelligent Business: Unit 10- Energy Name: Teacher: TOTAL (60 points to pass) MARK Number of points (max. 100 points) I. Listening: III. Grammar: II. Vocabulary: IV. Translation: I. Listening: (max. 20 points) points II. Vocabulary: (max. 34 points) points A. Translate the following expressions into English: odhady zmenšujících se zásob ropy -____ (2 points each) průkazné provozní náklady jaderné elektrárny nedokonalý scénář udržitelného rozvoje —___ 26 odkázaný na spotrebu neobnovitemých zdroju zastaralé nešetrné (agresivní) těžební techniky — přejít na hojnou solární a příbojovou energii - poptávka předstihující nabídku -___________ snížit emise skleníkových plynů —____________ B. Write expressions the following definitions refer to: (2 points each) 1. a large-scale disruption in electric power supply, loss of light, power, or communications: 2. a situation or state when people are able to buy a product because it does not cost too much money: C Complete the sentence with one ofthefolhwingphrases; translate the selected phrase: (2 points each) ENVIRONMENT, TIDAL ENERGY, LEGACY, RENTAL RETURNS, DEPLETION, TRANSMISSION 1. The_____________________________of oil resources will bring our civilization close to a disaster. In C^ech or Slovak:_________________________________________ 2. Boosting property values will result in higher In C^ech or Slovak: 3. One day we'll be able to use methods such as satellite power ________________________to the Earth. In C^ech or Slovak:_________________________________________ D. Complete the sentences with correct forms of the following verbs; some verbs are not used: (1 point each) ABANDON - SHRINK - SOAR - USE UP SURMISE-AFFECT- CEASE - INTERRUPT /.John was directly ____________________________ by the construction of the new factory. 2. The EU has decided _______________________________ the policy of penalizing member states. 3. Unfortunately, supplies of electricity were often _________________________________by power cuts. 4. Scientists in general _____________________________ that the planet will become warmer soon. E. Complete each sentence with a word made from the word given in brackets. (1 point each) 1. The judge was________________________________when deciding the complicated case. (PART) 2. This architecture is very practical and also__________________________________. (ART) 3. When prices of new products are________________________________high, people can't buy them. (PROHIBIT) 4. The increasing petroleum consumption is very _____________________________________worldwide. (NOTICE) III. Grammar: (max. 30 points) points A. Fill in the gaps with a suitable preposition or adverbial, if necessary: (1 point each) 1. All the study results were taken_________granted by everybody. 2. NASA will conduct a research_________the possibility of flying to Mars. 3. Oil reserves will probably be used_________in 20 to 30 years. 4. A steep rise_________the price of oil could be devastating. 5. Let's get Mary_________the energy consumption research, she'll do it. 6. Europe will soon have to compensate_________the oil it imports from Russia. B. Rewrite the sentences with the given words so that they mean the same as the original ones: (3 points each) 1. I didn't accept the job last year and therefore I can't go for a business trip to Alaska now. If I________________________________, I_____________________________________now. 2. The machine won't keep making the noise if you turn it off. _________________________unless_______________________________. The machine_________________________ 3. Jane didn't marry Paul in the past because she is always so indecisive. Jane__________________________________if she_____________________ C Put the VERBS and other words in brackets into their correct forms, add prepositions, particles or auxiliary verbs if necessary. You may need to use the passive forms of the verbs: (1 point each) The problem of increasing energy consumption__________ SOLVE) countries individually. Citizens of these countries (CAN, not, (SHOULD, MAKE, governments, THINE) it and try to find _________________________________________(AVOID, a solution. Austria, for example,_________________________________________ CONSIDER, RUN) a nuclear power station for many years but the shortage of electricity ________________________________________(soon, FORCE, they, START) a public debate about this option. Especially if countries like Russia_____________________________________ (likely, THREATEN, USE) their energetic potential as a way of influencing Europe's policy. It_______________________________________(no use, WAIT) a miracle here, we have to act quickly. It is true that if Norway_____________________________(DECIDE, JOIN) the EU in 1995, Europe . (CAN, RISK, HAVE) a. much stricter policy towards Russia now. So these countries will surely make every effort. (POSTPONE, BE, dependent) energy from abroad. D. Choose suitable words or phrases that can complete each sentence. The number of correct answers is 0 — 4. (2points each) 1. Veronica would definitely tell us the answer if she___________________. Aľ were here C: had studied for the exam 2. If I . you, I. B: was here D: could speak the unknown food. A- was ... would never eat C: were ... would never have eaten B:were ... would have never eaten D: were ... would never eat oil had never been discovered. A: If only C: Only if B: I wish D: Provided that 28 IV. Translation: (max. 16 points) points Translate the following sentences into English: Zastánci využívání fosilních paliv nadsazují údaje o odhadech světových zásob ropy a plynu a nepřipouštějí, že se tyto zásoby ztenčují; propagují také jadernou energii a vůbec se nezaměřují na záležitost uložení jaderného odpadu. Podporují rozvoj nealternativních zdrojů a tvrdí, že větrná, vodní, solární ani přílivová energie nebudou schopny pokrýt (vyrovnávat) naše vzrůstající požadavky, což povede k situaci, kdy většina zboží bude cenově nedostupná a neekonomická. 29 UNIT ELEVEN - GOING PUBLIC m> TASK (Keynotes) Complete the gaps with the correct forms of the following verbs: UNDERWRITE, INTRODUCE, RAISE, GO, FILE, COMPLY An Initial Public Offering (IPO) takes place when a private company 1.____________capital by 2. _______________its shares on the stock market and becomes a public limited company (pic). Before a private company can 3.________public, it must 4.______________the requirements of the regulators of the stock exchange (Securities Exchange Commission in the US) and 5._________ an application giving full details of its accounts. Most companies prefer to use the services of an investment bank to manage or 6.___________________the offering. COURSEBOOK, p. 95; READING E> TASK Answer the following questions: 1. What is NASDAQ? 2. What is IPO? 3. How did Bill Gates and Steve Jobs play the game of going public? 4. What is racket? 5. How does IPO performed by Brin and Page differ from a standard one? 6. Do investment firms like Morgan Stanley play any role in the IPO performed by Brin and Page? 7. Why did such famous risk-takers such as Gates and Jobs tolerate this WS shakedown/racket? 8. What does it mean to cut sb in (on sth)? 9. When did things start to go wrong for this investment houses cartel? 10. Why didn 't this idea of the auction approach take off immediately? 11. What does it mean hypermathematical? 12. Why can Page and Brin afford to bypass big Wall Street names? 13. Explain the following words: to pioneer= an ally = outthink = outflank= to bypass = 14. What twin principles is Google based on? 15. Explain how the word "google" came into existence. COURSEBOOK, p. 96; LISTENING E> TASK Complete the text with the words and phrases you hear: Probably the most serious was with the timing of the IPO best time to get the financial community 1.__________ summer vacation. Secondly, there was the attitude 2. _. company's plans. These were never published 3.___ it was set for August and that s not the because it's right in the middle of the ______________________________the and investors were 4. 30 _____________________________ what the company was planning. Lastly, the 5. ____________________the auction was complicated, and, 6._______________, instead of simplifying things, it really made it more difficult for investors to buy shares. However, 7. _____________________, I should add that for investors, the Google IPO was a really great oportunity: they could buy at a relatively low price and within a few days the shares 8. ______________________ $ 125. COURSEBOOK, p. 97; READING E> TASK Answer the following questions: 1. Why is the planned IPO of the Fairfax Inc shares unlikely to change the way things are done in the company? 2. As for the organizational side of the IPO, what were the original plans and how have they been changed? 3. How much money will the Randsfeld IB earn from this business? 4. Why are the Fairfax shares highly likely to do well? WORKBOOK, p. 47; READING E> TASK 1 Find in the text words defined by the following: Pari 1.______________________= to sound familiar 2.___________________= (usually plural) someone who is injured or killed in an accident or military action: 3._______________= a time when a period of economic success ends suddenly, opposite of the word boom 4.________________= time of great excitement and feeling you can achieve what you want 5.___________________= to risk money or something valuable in the hope of winning more if you are lucky or if you guess something correctly 6.__________________= if the value, amount or level of sth_________, it rises very quickly Par 2 1._________________something to someone/something = to say that someone or something has a specific quality, especially a bad one, or is guilty of something 2.__________________= the total value of all a company's shares, calculated by multiplying the number of shares by their price on the stock exchange 3.____________________= a computer program that searches the Internet for information, especially by looking for documents containing a particular word or group of words 4.__________________= a company or person that is new in a business, but may already be becoming important 5._________________= a) to prove that something is present using scientific methods, b) to notice something, especially when it is not obvious 6.__________________= a situation that cannot last in which prices rise very quickly and many people make a lot of money Par 3 1.________________________= to start to work together in order to achieve a shared goal 2.______________________= to be as good as what was expected 31 3._____________________= to disappear, usually gradually 4.___________________= the act of forming a new, independent company from part of an existing one; a company formed in this way 5._________________________= not to make as much money as expected or as sb/sth else:_ 6.______________________________ated = likely to end in failure or death Par 4 1.___________________________= to show a comparison between things 2.______________________= to stop being effective or making progress 3.___________________________= the time when something stops existing 4._________________________= not practical because it has not been thought about carefully 5._______________________= the use of a lot of advertisements and other PUBLICITY to influence or interest people 6.___________________________= to do sth that is a risk Par 5 1.__________________= the result that you wanted to achieve from a plan or idea 2.___________________= the money that is received by a business usually from selling goods or services 3.___________________= to be suddenly reduced to a much lower level Par 6 1.__________________________= to have a more secure position 2.__________________________= impossible to think about or imagine 3._____________________________= in a way that shows you think someone has done something wrong 4.________________________= enjoyable but not serious or important \E> TASK 2 Answer the questions Par 1 1. In what context are etoys.com, Pets.com or Boo.com mentioned? 2. How are the 1990's described in the article? 3. What happened to the unsuccessful companies of the 1990s? 4. How are the dotcom companies which survived this difficult period doing now and how are they seen by thein potential investors? Par 2 5. How well have the Google shares have done since their IPO? 6. How well is Google doing compared to Time Warner? Par 3 7. Describe some of the recent developments in the history of the Time Warner company. 8. How did Time Warner react to the unsuccessful merger with AOL? Par 4 9. Have the investors been able to learn from the dot.com cash? 10. Name some current dotcom giants. 11. How is the average consumer today different from the average consumer 10 years ago? Par 5 +6 12. How are these days described in terms of returns on investment in the web-based business? 32 13. Why are the companies in the web-based business better established today than they were 10 years ago? COURSEBOOK, p. 99; CAREER SKILLS, MAKING A PRESENTATION E>TASK Complete the text with the phrases you hear: As CEO of InnovaTex, I'd like to say a few words about the company 1^ __________________________________________( 7 words) the specific details of our IPO. 2± ____________________________________________(9 words): InnovaTex is a young company in a vibrant growth sector. We have first-class products, a dedicated and talented staff and I think we have a great future ahead of us. 3.______________________________________________[6 words)later in my presentation. But now I'd just like to say how proud I am, not of what we have already achieved but also of being chosen to lead the company at this critical moment in its history as we embark on our next journey. 4.______________________________________(6 words) my main message: I sincerely hope that as many of you as possible will be joining us; in other words, that you and your clients will be among our future stockholders! In my presentation today, !L_____________________________(4 words) who we are and then giving a review of our recent performance. 6._________________________________(5 words) an analysis of the risks and the challenges that lie ahead. T.____________________________________ ( 5 words) the capital and management structure and how it will be affected by the offering. 8^ ______________________________________________ŕ 4 words) the more practical details of the offering, such as the timing. [£> TASK 1 Answer the questions 1. Who was Hi Wire? 2. What was Hi Wire magazine? 3. When the internet boom was in full swing, what plans did Hi Wire Ventures have? 4. Why did they také the company to the stock exchange? 5. Is this the company's first attempt to go public? 6. What steps have the company taken already? [£> TASK 2 Based on the information in the exercise, complete the following sentences. 1. The whole Hi Wire store shows that it is not always easy__________________________. 2. The timing wasn 't the best one; it was clear the_________________________________. 3. The real problem was that their stocks were_____________________. They _____________________________at all. 4. The thing was that the company and the investment advisers weren 't____________________. 5. The enterprise is described as______________________________________________________. 6. Both sides_____________________the company. They couldn 't___________________________. 7. This failure didn 't do__________________________their reputations. 33 GRAMMAR-FUTURE 1^^^^ GRAMMAR SECTION 4 The future 1 WAYS OF REFERRING TO THE FUTURE The following table summarises the different structures we use to talk about the future. Form Example Meaning will will be going to be going to Present Continuous Present Simple wiíí + Continuous will + Continuous wiíí + Continuous will + Perfect will + Perfect Continuous be + to-infinitive I'll just go and get my coat. You'll be sick if you eat more chocolate. I'm going to stop in a minute. Look out! We're going to hit the car in front. We're meeting at the café. Want to join us? The coach leaves in ten minutes. Don't phone too early because I'll be putting the baby to bed. We'll be working on this until the end of the year. I'll give your letter to him - I'll be seeing him later. We'll have driven over five hundred miles by the time we get there. We'll have been living here for ten years next May. He is to be given an award. You're to stay here until you've apologised. = an immediate decision about what you are going to do = a general prediction = a personal intention = a prediction after looking at what is happening now = fixed plans / arrangements = an unalterable arrangement or fact = an action that will be in progress some time in the future = an activity that will be happening during a period in the future = an action that will happen because it is regular or decided = an event that will be finished before a specified time in the future = a state of affairs in progress for a period up to a specified time in the future = an official arrangement or order • We use shall with I or we with the same meaning as will. However, it is becoming increasingly formal -its most common current use is in polite offers or to ask advice (see Unit 3, Section 1.1): Shall I open the door for you? What shall we do now? 2 WILL IN TIME CLAUSES AND /F-CLAUSES We do not commonly use will in time clauses after when, as soon as, until, before, etc: I'm not going to speak to her until she apologises. We can sometimes use will with conditional clauses (after if, unless, providing, etc.) but only in special circumstances (see Unit 5, Section 2.2): If you will insist on the best, then you must expect to pay more for it. If you'll hold these bags for me, I can open the door. • We use would instead of will in reported speech: They promised they would work on it all weekend. Harry asked me if I would help him out. 24 3 COMMON PHRASES I'm (just) about to go out. (= in a very short time) We were on the point of leaving when the bell rang. We're due to meet in half an hour. We'll deal with that in due course. Nothing will change for the foreseeable future. I wonder what the future has in store / what lies ahead. From now on, things will be different. The time is fast approaching when ... A feeling of impending doom. ? check Match the examples with the meanings in the table. 1 Are you going to the match tomorrow? 2 Are you going to go out this evening or not? 3 My driving licence expires in 2030. 4 I've had enough. I'll finish this tomorrow. 5 We'll be sending you more details in the post. 34 THE FUTURE Practice Q Tick (/) the most appropriate of the underlined words. 1 She looks very pale. I think she'll / she's going to faint. 2 I'll /I'm going to do that for you, if you like. 3 I'll be / I'm going to be a rocket scientist when I grow up. 4 'Somebody's at the door.' 'I'll / I'm going to see who it is.' 5 I need to be home early today so I leave / am leaving at 4.00. 6 We'll be in plenty of time providing the traffic is not / won't be too bad. 7 She asked if I would / will be so kind as to give her a lift. 8 What sort of job do you think you will do / will be doing in a few years' time? 9 By the time you get back, all the food will have gone / will go. 10 The two Prime Ministers are to / shall discuss the current economic crisis. 0 Fill each of the numbered gaps in this passage with one suitable word. IS 'Remember that by the terms of the contract you ■**™ are (1)........to leave before midday,' the voice said. J^ 'Yes. Yes, I know. I was (2)........about to pack *-». when you rang.' jP» 'Midday,' the voice repeated. (^ 'I know. As I said, I was on the (3)........of leaving *5fc - packing, then leaving.' £Tt 'That is (4)........you want to pay for another JaJ week,' the voice continued. 4Ěk 'No. No, I'll (5)........out by twelve,' I stammered. /T) 'It does say very clearly on your door that all Jifl guests are (6)........vacate their rooms by midday' the voice went on, quite unnecessarily, I thought. J^ 'Look. I've told you,' I shouted, 'I'll have (7)........ ^». before the clock strikes twelve! I'm (8)........in less than fifteen minutes. The flies, ants and cockroaches will soon (9)........partying in a punctually vacated apartment. Have no fear' £X) 'Kindly remember that the new occupants JO (10)........in at...' j^ 'I know! Midday!' I screamed, and threw down the f^ii phone. Q Fill each of the gaps in the following sentences with a suitable word or phrase. Example: I was just about to have a cup of coffee when Sue called. 1 He was on............resigning when the news of his promotion came through. 2 Our builder told me he............best to get the materials as soon as he could. 3 I think we'd better leave as soon............the bill. 4 If that little boy carries on like that, he............ accident before long. 5 By the time I qualify, I............ law for six years. 6 Our company is............ over by a multinational. O In most lines in the following text, VmmhP there is one unnecessary word. It is either grammatically incorrect or it does not fit in with the sense of the text. Write the extra word in the space on the right. If there is no unnecessary word, put a tick {/). The first two have been done for you. 0 Despite all the lessons we have learned from history, ../.... 00 it is difficult to conceive what people will are likely to be doing . WW. 1 a hundred years from now on. During the last century, so many ........ 2 changes took place that any idea as to what new invention is ........ 3 about now to become an integral part of our lives has become ........ 4 a guessing game. For a start, in ten year's time zone ........ 5 today's innovations will probably have become out of the date. ........ 6 There is little doubt that many of our habitual, taken-for-granted ........ 7 activities such as shopping will have been disappeared by ........ 8 the year 2100, largely due course to computerisation. But what ........ 9 we don't know is how this will affect personal relationships. ........ 10 Here, it is very difficult to see what the future holds in the store. ........ 11 The time may well be fast and approaching when people only ........ 12 communicate via computers and mobile phones. But what will ........ 13 they do when they will need a friendly shoulder to cry on when ........ 14 feeling low? We will find out in the not too distant future. ........ 25 35 PJI2A Review Test Intelligent Business: Unit 11 - Going public II. Vocabulary: (max. 34 points) points A. Translate the following expressions into English: jednoduše řečeno -_____________________ (2 points each) podat lepší výkon (1 word) než poradenská agentura - troufalá a podvodná provize (legální) -___________ uplatnit opci na akcie a splatit dluhy -___________ mít zaručeny rychlé zisky —____________________ znepřátelit si zkorumpovaného kupujícího -____________________________________________ mít monopol na upisování kmenových akcií —___________________________________________ poukázat na podobnosti mezi internetovými vyhledávači -_________________________________ B. Write expressions the following definitions refer to: (2 points each) 1. the act of forming a new, independent company from part of an existing one; a company formed in this way: 2. an official financial record that gives details of all a company's income and expenses for a particular period and shows if it has made a profit or a loss: C Complete the sentence with one ofthefolhwingphrases; translate the selected phrase: CRACKS, PROSPECTUS, VALUATION, CASUALTIES, KICKBACK, DEMISE 1. The accumulated debts resulted in the final. our company. In C^ech or Slovak:__________________________ (2 points each) of 2. There were many 1990s. In C^ech or Slovak: _ of the dotcom crash in late 3. It's illegal and unethical to accept a service we provide. In C^ech or Slovak:______________________ for any D. Complete the sentences with correct forms of the following verbs; some verbs are not used: SLUMP - PEAK-HYPE - BYPASS DISCLOSE - REVOLUTIONIZE - OUTBID -RUMOUR (1 point each) 1. Prices of shares of internet companies have minimum. 2. Auction participant number 17 finally . opponent yesterday. 3. Nokia's new impulses______________ to their . its biggest the mobile phone market. 36 4. You can paying a commission to a stockbroker by holding a public auction. E. Complete each sentence with a word made from the word given in brackets. (1 point each) _______________________________last Friday. /. Yahoo's shares were worth ! (PIECE) 2. It's absolutely __________ that Microsoft would go bankrupt. (CONCEIVE) i.The of confidential financial information can hurt our firm. (DISCLOSE) 4. The CEO has led the company through crises. (NUMBER) III. Grammar: (max. 30 points) points A. Fill in the gaps with a suitable preposition or adverbial, if necessary: (1 point each) 1. 2. 3. 4. 5. 6. . the EU's regulations. The government's measures have to comply_________ There's no way I could offer you the stock__________a discount. Our firm has embarked__________a long but hopefully successful journey. I tried to bid__________my rival but finally I didn't have enough money. I think we should hold a vote . Investors usually start trading the issue of employing foreigners, the exchange at 9 a.m. B. Rewrite the sentences with the given words so that they mean the same as the original ones; try to use the most suitable future form: (3 points each) 1. We will receive the money and after that I will let you know. I______________________________as soon as_________________ the money. 2. Brokers will try to sell your shares. On Monday next week. The brokers______________________________________your shares on Monday next week. 3. Will the company be sold? By January next year? ____________________________________________________________by January next year? C Put the VERBS and other words in brackets into their correct forms, add prepositions, particles or auxiliary verbs if necessary. You may need to use the passive forms of the verbs: (1 point each) Going public can_____________________________________(ENABLE, a company, RAISE) the necessary capital. But before the existing owners____________________________________ (BEGIN, CONSIDER, SELL) part of their stakes, they should________________________ Future shareholders will (prepared, FOCUS, MAXIMIZE) the company's value first. ___________________________(interested, LEARN) as much as possible about the firm's financial position. Also, if a chosen strategy . be much easier (URGE, buyers, PURCHASE) shares is well-chosen, it will ___________________________(MAKE, they, FIND OUT) everything about the perspective IPO. Sometimes it is good (RISK, TAKE OVER) a bigger competitor but one never knows what _______________________________________(GET USED, USE) will happen afterwards.______________________________________ a new brand can be quite difficult for the original staff too. Nevertheless, this has to be done if the company________________________________________________(SEEM, THREATEN) the lack of available capital for expansion. D. Choose suitable words or phrases that can complete each sentence. The number of correct answers is 0 — 4. (2points each) 37 /. The teacher . about three topics in her presentations. A: will talk C: will have talked 2. Wait, I_________ B: will be talking D: is going to talk find out when the train______________ v4'will... will arrive C: - ... will have left 3. My brother________ A: is going to be married C: will have been married B:will... leaves D: am going to ... is arriving for ten years next April. B: is married D: will be married IV. Translation: (max. 16 points) points Translate the following sentences into English: Nadcházející primární emise akcií (1 word) nových makléřských firem nepochybně způsobí nadhodnocení ceny akcií takových společností; přehnaně optimistické prognózy předpokládají, že zájem investorů je udrží v popředí po dlouhou dobu. Na druhou stranu pokud zavedené firmy nevylepší v dalším čtvrtletí finanční výsledky, budou čelit tlaku akcionářů, aby získaly víc financí buď zvýšením cen vyráběného zboží, nebo snížením nákladů či dokonce upisováním dalších akcií. UNIT TWELVE - COMPETITION E> TASK A pod is: (0 to 5 options may be correct) A pod is: a) the long narrow part of a bean plant and similar plants that hold the seeds b) a piece of writing using beautiful or unusual language arranged in fixed lines that have a particular beat and often rhyme c) the part of a space vehicle that can be separated from the main part d) the care of feet and the treatment of foot diseases e) a small group of sea animals such as dolphins f) someone who illegally catches or kills animals, birds, or fish on someone else's property COURSEBOOK, p. 103; READING E> TASK 1 Find in the text the words defined by the following: Par 1+2 1.___________= not to get involved in sth 2._________________= (adv) is or was sure to happen 3.______________= 1. remove a cloth from sth, 2. show or announce publicly for the first time 4.______________= to take part in sth and try to win 5._______________= a small profitable segment of the market Par 3+4 1._____________= invitation or call to take part in a game, fight, etc.; a difficult task 2._____________= imaginable, thinkable 3._____________= clearly, exactly, openly 4._____________________= never having happened, been done or been known before Par 5+6 1.______ 2.______ 3 4 5 6 7 8 _= to sell more than the competitor ___= not able to move or continue doing sth _______________= to change sth from one form or use to another _= dominant, neither traditionally or modern, preffered by the majority = an unexpected change or development (e.g. in a story) ___= to connect to the electricity supply __ = a piece of equipment that is connected to a computer __ = true or invented reason given to explain or defend one's behaviour Par 7+8 1.___________= lack of vigour, lethargy 2.________= to respect 3._____________= carefully chosen E> TASK 2 Answer the questions: 1. Who is Steve Jobs? 2. What is cool about the way Mr Jobs behaves each January? 3. What do Apple products have in common? 4. How has this January been different from previous Januaries for Mr Jobs? 5. Which product made Mr Jobs's vision doable? 6. What seems to be the biggest problem for Apple and what appears to be the solution to it? 7. What is Mr Jobs's most radical product and what is revolutionary about it? 39 8. Why is leaving out peripherals in their new computers a clever move? 9. What other practical steps have Mr Jobs taken to conquer the global market? 10. Who leads the market for online music? COURSEBOOK, p. 102; LISTENING E> TASK 1 Translate: 1. vědět, kde si ve vzahu ke konkurentům stojíte = _________ 2. trvalý problém mnoha podniků =________________________ 3. přistupovat k problému =______________________________ 4. pět základních sil mající vliv konkurenční pozici společnosti 5. hlavní distribuční řetězec =. 6. mít manévrovací prostor =. [£> TASK 2 Complete the gaps with the words you hear: In practice, Porter's theory is very helpful because it suggests a number of ways that businesses can build barriers to 1.___________________________________________________________(6 words) direct competition. Among these, there are four which I think are particularly important: 2± _______________________________( 1 word) - making your product or service unique; 3.__________________________(3 words) - getting a cost advantage 4.___________(1 word) vour distribution - having a network which gives you access to markets; and competition; 5,__________ (2 words) - making it prohibitively expensive for your customers to (4 words) product or service. COURSEBOOK, p. 105; LISTENING E> TASK 1 Translate: 1. domácí/národní výrobce motorů do motocyklů =_____ 2. malý motor projektovaný tak, aby byl vhodný pro kola 3. řada revolučních automobilů =______________________ 4. doslova vzít automobilový trh útokem =_____________ [£> TASK 2 Complete the gaps with the words you hear: One of their most 1.___________________ _______________aircraft engines, and it 2^ we'll see the arrival of commercial aircraft under the Honda name. A prototype, the Honda Jet, has already flown and with 441 subsidiaries supporting the company's efforts around the world, Honda represents a 3._______________________________________________________. So the sky is certainly no limit for them. COURSEBOOK, p. 105; READING [£> TASK Answer the questions 1. Describe Pixar's beginnings and its core business. 2. What happened to the company in 1986? 3. Describe the market position of the company when taken over by Mr Jobs. 4. Who is Mr John Lasseter and what role did he play in the recovery of the company? 40 5. Finding Nemo and The Incredibles are examples of what? CAREER SKILLS, p. 107 E> TASK Complete the gaps with the phrases you hear: Dialogue 1: L: Hi, Georgia. I just wanted to tell you that we 've just finalised the prices for the next quarter. We reckon that we can reduce prices by five per cent max starting next month. G: You must be crazy, Lewis! I told you that our competitors are already at least ten per cent cheaper than we are and they' re still bringing their prices down. 1.___________________________________________. Can 't we find a better solution? L: Listen, Georgia, that's the way it is, so just tell them it's five per cent - Dialogue 2: S: OK, Martin, so what we've decided to do is to introduce electronic sales tracking. That way, each salesperson will record all transactions, and the data will be centralised at head office. M: That sounds fine, Steve. But how long will it take before the whole system is operational? S: I 'd like to 3^___________________________________months. M: Two months? That's not long. 4._________________________________the time to train everyone to use the system? S: I don 't know, er, but it should be possible to block a week in June and get everybody together then. Do you think 5.__________________________________? M: Well, yes, I think it might be possible. Dialogue 3: G: I hope I'm not interrupting you, Marta, but there's something I think we need to discuss. M: 6._________________________jSreg. What's the problem? G: Well, I've received some complaints from your subordinates. They say you have been assigning too much extra work. M: Listen Greg, you know we're short-staffed at the moment so T._______________________________________._ Especially if you won 't let me hire any temporary staff. ÍL___________________________________________________? G: Forget about it? Look, I know we 9.__________________________________, but surely we need to do something. WORKBOOK, READING; p. 49 [£> TASK Answer the following questions: 1. What makes Toyota people different from other people in the automotive industry? 2. What does Mr Cho attibute the uniqueness of the Toyota culture to? 3. What is special about the area where the Toyota company grew up? What other famous area of the world is it compared to? 4. Why did Jim Press leave his previous employer and started working for Toyota? 5. What was interesting about the cars made in California? 6. Who is Mr Jones? 7. What are Toyota's ingredients to success? 41 WORKBOOK, LISTENING; p. 50 E> TASK Complete the phrases with the words and phrases you hear: R: Indeed, many people now spend as much time surfing the web as they do with television, magazines or newspapers, but 1._________________________________product and price information suddenly available, consumers are unlikely ever to become 2._________________________. Tastes and fashions will differ. Brands are likely to remain popular. But 3._______________________are weakening. A slip or a delay can cost a firm dearly and 4.___________________________________. This i show Apple's iPod !L___________________________________ portable music device. P: I see, but many firms do not yet seem aware of the 6._______ R: Well, there are some businesses that T._____________________ _the market leadership in and been rewarded for it. Dell has by-passed retailers and used direct sales to become the world's top supplier of personal computers. The web is also transforming the travel business, giving consumers the power to book flights, hotels and cars directly. And it has allowed hundreds of thousands of small businesses, from mom-and-pop stores to ÍL______________________________on eBay, to reach a global market. P: Of course, and internet search firms such as Google, Yahoo! And MSN are now 9i _____________________________________________________offer more localised services. R: That's right. A service that consumers are sure to 10. 11. nearby outlets even as they 12j ., consumers will be able to find a local store and check the offers from Or listen to a salesman. To snap up = popadnout co, skočit po čem, prát s o co To snatch sthfrom sb = urvat co komu, uchvátit co od koho WORKBOOK, READING; p. 51 E> TASK Answer the following questions: 1. What sort of behaviour has recently become fashionable among bosses in the computer industry? 2. In which particular instance was this behaviour particularly surprising and why? What is this instance of compared to? 3. Will the described act of friendliness get reflected in the actual cooperation between the two companies? 4. What statement of Mr Jobs came as a surprise? 5. What reasons does Mr Jobs give for quitting his cooperation with IBM and turning to Intel instead? Resurgence = the return and growth of an activity that had stopped: 6. The termination of cooperation between IBM and Apple will mean serious problems for IBM. T/F 7. The contract with Apple will bring substantial profits to Intel and will dramatically increase their revenue. T/F 8. Why is the above change risky for Apple? 9. How would interpret the main message which comes out of the new deal between Apple and Intel? Review Test PJI2A Intelligent Business: Unit 12 - Competition 42 II. Vocabulary: (max. 34 points) points A. Translate the following expressions into English: (2 points each) neslýchaná a doslova ohromující kupní síla -____________________________________________ nevyhnutelně se vyvíjející překážky vstupu (do odvětví) —_____________________________________ neúnavné usilování o dokonalost -____________________________________________________ úspory z rozsahu díky skulině na trhu -_________________________________________________ neúnavné a neustávající kouzlo poselství -______________________________________________ představitelná úprava ziskových marží -________________________________________________ narazit na hlubokou oddanost a rivalitu -_______________________________________________ postupně přepustit distribuční řetězec podřízeným prodejcům -_____________________________ B. Write expressions the following definitions refer to: (2 points each) 1. the amount of money that a customer needs to spend when they change from one supplier, system, etc. to another: 2. a situation where a company is in a position to be more successful than its competitors; something that helps a company be in this position: C Complete the sentence with one of the folhwing phrases and translate the selected phrase: (2 points each) TRIAL, PRICE TAG, ACCESSORIES, SETBACKS, VOLUME, COURSE OF ACTION 1. We'll have to overcome a number of_____________________________ before we become profitable. In C^ech or Slovak:______________________________________________ 2. The_______________________________of orders has exceeded 500 a month, which is an increase of 27%. In C^ech or Slovak:______________________________________________ 3. I hope the firm is able to determine its further_______________________________in this difficult time. In C^ech or Slovak:______________________________________________ D. Complete the sentences with correct forms of the following verbs; some verbs are not used: (1 point each) SET ASIDE - FIGHT OFF - CONFESS - ATTEMPT ENTITLE - WONDER - WANDER - UNVEIL 1. None of our subordinates__________________________to sign contracts on behalf of the firm. 2. Last week IBM finally__________________________to negotiating a new deal with Apple. 3. Toyota is considering___________________________its new model at the Frankfurt trade fair. 4.__________________________competition is never easy but you can do it by cutting costs. E. Complete each sentence with a word made from the word given in brackets. (1 point each) _______/. We welcome you at our today's 43 presentation! (HEART) 2. Your activities may have serious _______________ George. (IMPLY) 3. We don't have enough people __________________________________. (STAFF) 4. I think Jack should be decisions. (POWER) for you, we are seriously _ to impose the critical III. Grammar: (max. 30 points) points A. Fill in the gaps with a suitable preposition or adverbial, if necessary: (1 point each) 1. 2. 3. 4. 5. 6. Toyota and Honda contest_______ The sight__________my bank statement scared me the leading position on the market. We have to sell the production and we'll do it_______ Microsoft has to compete__________Apple on all markets all costs. volume. Nokia now outsells Motorola's mobile phones_______ The cost__________production is relatively low in this factory. B. Rewrite the sentences with the given words so that they mean the same as the original ones: (3 points each) 1. Greg will buy the shares. The price must go down by 5%. Greg___________________________as soon as the__________________________________. Lucy. 2. Lucy is going to leave for Jamaica. She must be given a visa first. ______________________until_________________________________ I 3. I must finish my studies first. Then I plan to leave the country. ______________________after ______________________________ C Put the VERBS and other words in brackets into their correct forms, add prepositions, particles or auxiliary verbs if necessary. You may need to use the passive forms of the verbs: (1 point each) Whenever Apple {CONSIDER, RISK, EXPAND) its operations abroad in the previous decade, its biggest opponent, Microsoft,________________ _______________________________(ATTEMPT, PERSUADE, buyers, not FOCUS) Apple's _______________________________________ (INTEND, MAKE, customers, products. It____________________ THINK) that its operation system (WOULD, unable, COOPERATE) Apple's programs. Finally users (GET USED, PREFER, OFFER) products by Microsoft rather than by Apple. However, things_____________________ CHANGE) recently. Nowadays Apple_______________ REFER) as the "always second" player and the company (BEGIN, _ (DENY, hardware. It (ADVISE, computer users, SWITCH) its software and __________________________________(not, easy, LET, their systems, WIN) in the future but the preliminary results are promising. D. Choose suitable words or phrases that can complete each sentence. The number of correct answers is 0 — 4. (2points each) 1. The bank made its biggest losses . A: as soon as it has lent C: when it lends 2. The machine stops making the noise ________A: when you will turn it off_____ money to unreliable firms. B: after it lent D: whenever it had lent yo u turned it off 44 C: once you turn it off D: as soon as you have turned it off 3. We___________________you by the time the courses_________________. A: will call... begin B: are going to call... began C: will have called ... begun D: call... will have begun IV. Translation: (max. 16 points) Translate the following sentences into English: IBM konečne odhalila své plány uvést v posledním čtvrtletí na zavedený počítačový trh nový model; tento postup zabrání konkurenci v získání konkurenční výhody. Navíc přiostří soupeření mezi dominantními výrobci. Výsledkem je, že konkurenti uposlechli radu poradenské firmy a v zájmu úspor z rozsahu se rozhodli najmout dočasné zaměstnance, aby se vyhnuli podstavu (zaměstnanců), což by mělo vést ke zvýšení objemu produkce, tržeb i ziskových marží. points GRAMMAR - TIME CLAUSES GRAMMAR SECTION I Time and reason 1 TIME CLAUSES We can use different linking words and phrases in time clauses to be more precise about: • when things started (since, ever since): Ever since she read an article on dishonest hotel owners, Fotini has found things to complain about. • things happening at the same time (as, while, whilst, when): While the bath was running, she checked the state of the towels. As she was doing so, she noticed a hole in one of them. Whilst she waited for the bath to fill, she switched on the TV. (= formal) • one thing following another (after, before, as soon as, when, once, etc.): She began to get more irritated when she realised the TV wasn't working. She decided to ring reception as soon as she'd finished her bath. Once she'd had her bath, she felt much better. Now that she was relaxed, she could cope better with the problems. After she'd waited half an hour for someone to mend the TV, she became edgy. • one thing following another very quickly (no sooner...than, the moment/minute..., etc.): On phoning reception yet again, she was told that the repairman was on his way. She'd hardly put down the phone when there was a knock on the door. Immediately /The moment he'd finished, the repairman left. She'd no sooner switched on the TV than there was an enormous explosion. • every time (when, whenever, every time): When she sent letters to the hotel, they never replied. Whenever she went back in person, they said the owner was unavailable. • when things finish (until, by the time..., etc.): Fotini wrote and phoned for three months, at which point she lost patience. She was determined to fight on until she got some satisfaction. She finally contacted a solicitor, by which time the hotel had closed down. -ing clauses We can use an -ing form after (ever) since, after, before, while, when, whilst, on: Since reading that article, Colin's refused to eat red meat. After waiting for ages for a table, we decided to try another restaurant. 102 2 REASON CLAUSES Ways of introducing reasons: because is much more common than the others, especially to answer Why...?: I didn't say anything because you'd have been angry. Because I'll be in tonight, I'll baby-sit. since, as often introduce reasons that the listener or reader already knows: Since we're late, we'd better hurry. As you've seen the film, let's go somewhere else, (just) in case is used to talk about things that may possibly happen: Don't leave him alone in case something happens. seeing that meaning 'since': Seeing that we're agreed, we might as well go ahead. in that, are used in fairly formal English to insofar as, justify what we have just said, often by inasmuch as indicating why the statement is true: He's rather untrustworthy, in that he usually forgets he owes you money. We're expecting a busy summer insofar as bookings are already up for August. This product is guaranteed inasmuch as we'll replace it if you return it within thirty days. for is used in very formal or literary contexts only: He chose his words carefully, for his whole political future hung by a thread. -ing clauses are used to express a combination of time and reason: We queued for over two hours, hoping to get tickets to the concert. Having passed my driving test, I thought I could hire a car. Which of the phrases can begin the sentence? 1 Immediately he saw her 2 On seeing her ..he tried to attract 3 He had no sooner seen her her attention. 4 Seeing that she hadn't noticed him, 5 The moment he saw her 46 TIME AND REASON Practice Q Correct any errors in each of the following sentences. Example: As soon as I will get the answer, I'll let you know. As soon as I get the answer, I'll let you know. 1 After 1997, exports have been booming. 2 When I'll get back, I'll tell you all about it. 3 At examining it more closely, he realised that the ticket was for the next day. 4 Once she will have understood the procedures, she'll work much faster. 5 I'd no sooner taken my seat when the fire alarm went off. 6 As our bus didn't leave for another hour, so we didn't have to rush. Q Match the first halves of sentences (1-5) with the second halves (a—e) and connect them with one of the linking words listed below. while on now that the minute once (by which time) Example: 0 by which time f (0 We played tennis from three until six,) 1 I understand why you don't like her 2 I think I must have dropped my keys 3 She was bound to contact the police 4 He phoned his wife immediately a I had read the first few chapters. b hearing the result of the tests, c I was walking to work this morning, d I've finally met her. e she discovered her diamonds missing, (f I was exhausted.) 5 I began to enjoy the novel Q Rewrite each of the following sentences twice, using the words given in turn, in such a way that they are similar in meaning to the first. Example: The training covered all the main techniques and was therefore pretty comprehensive, insofar covering The training was pretty comprehensive insofar as it covered all the main techniques. Covering all the main techniques, the training was pretty comprehensive. 1 I'm half German and so can speak the language fluently. being since 2 The traffic may be heavy on the motorway so let's avoid it. in case as 3 I've never been there so I can't really comment. having seeing that 4 Their failure to implement one item of their manifesto would suggest that this Government is clearly ineffective. inasmuch having 5 I turned on the TV and the doorbell rang a moment later. no sooner hardly 6 The missing boy was last seen just before Christmas. nobody time 7 She came in and immediately I knew something was wrong. moment soon 0 Fill each of the numbered blanks with one suitable word. 1 had no (1)..........sat down and opened the menu than she came in, smiling, slightly swaying, her arm outstretched. (2).........catching sight of her, I realised that all the time I had been half hoping for this, (3)..........since I boarded the plane. And the (4)..........she sat down, it was as if she had been expecting me, as if we had arranged to meet the night before. We had (5)..........exchanged opening pleasantries when behind me I heard the waiter, with remarkable intuition, ask whether he should bring champagne. We began talking wildly, questioning and answering, laughing between smiles. (6)..........I complimented her on her English, she pouted, (7).......... it was nowhere near as fluent as it had been. It was not (8)..........the first bottle of champagne had been emptied that the conversation drifted inexorably to the past and it was only (9)..........that awkwardness and tentativeness crept in. (10).........time passed, an air of unreality seemed to descend upon the proceedings. By the (11)..........we had finished our starters, our bursts of conversation had become shorter, less animated, and the pauses between them correspondingly longer. We finished the second bottle in resigned silence, at (12)..........point her eyes were clearly filling up with tears. (13)..........we were saying goodbye, she said it was the first time she had cried (14).........I had taken the train to England, all those years (15)...........It was such a beautiful thing to say. UNIT THIRTEEN - BANKING BANKING-INTRODUCTION E> TASK Give the terms defined by the following: 0._______________= money that an organization such as a bank lends and sb borrows. 1.___________________= the cost of borrowing money, usually expressed as a percentage of the amount borrowed 2.___________________= the price at which one currency can be bought with another. 3._________________= an amount of money that is paid into a bank or savings account. 4.______________________= the act of taking an amount of money out of your bank account, a pension plan, etc.; the amount of money that you take out 5.______________________= to take more money out of your bank account than is in it: We___________________our account by €100 000. 6.___________________= the amount of money that you owe to a bank when you have spent more money than is in your bank account; an arrangement that allows you to do this: We have a €20 million______________with the National Bank. 7.___________________= a bank account that receives interest on the money put into it 8._____________________= a bank account that you use to receive payments and pay bills, for example by cheque 9._________________= an instruction that you give to a bank to pay sb a fixed amount of money from your account on the same day each week, month, etc: to set up a__________________; to pay by__________________ 10._____________________= an instruction that you give to a bank to pay sb an amount of money from your account 11.______________________= the official bank of a country, which is responsible for setting interest rates, controlling the money supply, producing bank notes and keeping the country's supply of foreign currency and gold. 12.______________________= the way a central bank controls the amount of money in the economy at a particular time, for example by changing interest rates. 13._________________= to buy shares, property, goods, etc. hoping to make a profit when you sell them, but with the risk of losing money: Many small investors lost money__________________on the stock market. He made thousands (of dollars)___________________in property. Individuals can_________________short-term price movements. COURSEBOOK, p. 113; READING \E> TASK Answer the following questions: 1. Why does Mr de Lesseps lend money to people in poor developing countries? 2. Who is Mr de Lesseps and what does he do? 3. What is it an orchard? 4. What do you know about Mr de Lesseps's company? 5. What do microfinance institutions specialize in? 6. How are microcredit loans different from standard loans? 48 7. What is it a collateral? 8. What is the non-payment rate claimed by leading microcredit institutions? Compare it with the non-payment rate in the consumer finance industry. 9. How much money worldwide is lent to borrowers from developing countries? Does this meet the global demand? 10. What are the reasons behind Mr de Lesseps's philanthropic ventures? 11. Mr de Lesseps has been interested and actively engaged in microfinancing for most of his professional life. T/F 12. What general steps do de Lesseps and his team make when they arrive at a country in need of microfinancing? 13. What is it irrigation? 14. Describe an example of microfinancing in a village in Cambodia. 15. Why is it usually not necessary to ask for collateral when lending money to people in developing countries? 16. How does the interest rate charged by Mr de Lesseps compare with the interest rate charged by internationally recognized commercial banks and the interest rates charged by local banks in developing countries? 17. What is it LIBOR? 18. What is it a benchmark? 19. According to the estimate of Mr de Lesseps how much of the microfinancing market remains uncovered? 20. What is Mr de Lesseps's primary goal? COURSEBOOK, p. 115; LISTENING E> TASK In the listening exercise find the translations of the following. 1. Lidé se nutně musí zajímat o budoucnost takové firmy. 2. Jak došlo k uzavření smlouvy? 3. Cazenove je báječná instituce, která se může pochlubit všemi ctnostmi starého světa, aniž by zároveň trpěla jeho neřestmi, (virtue, vice) 4. Konkurenti mu závidí jeho klientelu. 5. znovu získat kontrolu na značnou částí podnikání Cazenove 6. ... s větší perspektivou v budoucnu. 7. nezávisle stanovená cena COURSEBOOK, p. 117; CAREER SKILLS - PERSUADING 49 E> TASK1 In the listening exercise find the translations of the following. Situation 1 1. Po zvážení všech úhlů pohledu si myslím, že. 2. Ty nesouhlasíš? 3. Celkem vzato já jsem úplně přesvědčený, že to co máme udělat, je. 4. Je mi líto, ale tomuto říkám ne. 5. Podívej, pokud v tomto ohledu nejsi ochoten změnit svůj názor, tak budu muset v týmu pokračovat bez tebe. E> TASK 2 Complete the gaps with the words you hear: Situation 3 A: It's in all our interests to 1.___________________________________- they should be made to pay us compensation for our losses. B: 2.__________________________________________________, and if we lose, think of all the bad publicity. I'm really against it. C: I'm sure we could prove it was the bank's fault. They did make inaccurate predictions about our performance, and that 3._____________________________________________________________. D: All things considered, the most sensible thing would be to talk to our lawyers first and see what 4.________________________________. A: They may advise 5.____________________________________, but you 're right- that should be our first step. WORKBOOK, p. 55; READING E> TASK Find the words and phrases in the text described by the following: (The words appear in the article in the same order). 1.__________________(adj) = similar to something else and considered to be a copy of it copycat crimes 2.____________________(adj) = brave enough to do dangerous things 3.___________________= what most people believe to be true 4._________________(verb) = 1. to breathe in noisily through your nose, for example because you have been crying; 2. to smell something 5.___________________(verb) = to make someone suffer because they have done something against the law or against the rules 6.___________________(noun) = someone or something that has the same job or purpose as another person or thing, but in a different country, time, situation, or organization 7.___________________(verb) = 1. to quickly increase to a high level; 2. to fly high in the sky: 8.____________________(verb) = 1. to consider doing something in the future; 2. to think very carefully about something for a long time 9._______________________(verb) = to fall straight down very quickly from a high position; syn. to plunge 50 10._________________________________= to refuse to accept something, especially because you do not think it is good enough 11._____________________________(verb)= to know about something through a natural ability or feeling, without being told 12._________________(noun) = a company or an organization that is connected with or controlled by another larger one 13._________________(noun) = a situation when the edge of one thing fits over the edge of the other 14.____________________= broken into a lot of separate pieces or parts E> TASK 2 Complete the gaps with the words you hear: I have my doubts about the 1._______________________(1 word) of the merger between UniCredit and HVB, and the challenge of dealing with two different languages and cultures. But two factors 2.________________________(5 words) : HVB's urgent need to merge and Mr Profumo's 3._______________________(2 words) in forging UniCredit out of several smaller Italian banks. There is also the advantage that no other merger 4.___________________(1 word) western and eastern Europe could expect 5.______________________(4 words) . The success of Bank Austria, which HVB bought in 2000, show that Gross-border mergers can indeed be successful. What might the next move such be? In the past, Italy's central bank 6.______________________ (3 words) foreign banks wanting to buy in Italy. Now that UniCredit 7. ____________________________(3 words), the central bank might look more kindly on one of two other 8._____________________(2 words), by the Netherland 's ABN Amro and Spain 's Banco Bilbao Vizcaya Argentaria. The most pressure to merge, though, may be felt by Germany's Commerzbank. Commerzbank has spent the past year cutting costs in investment banking and 9. ______________________________(5 words) as a middle-tier corporate and retail bank. But it will surely merge soon. 10.___________________________________(5 words) WestLB, a public sector bank. Deutsche's future is easy to predict. Deusche said no last year 11.___________________________ (7 words) Postbank, a retail bank owned by Deutsche Post. Now 12.______________________(3 words) that Deutsche is aiming to expand at home and abroad. Deutsche is among those interested in Banca Comerciala Romana, Romania's biggest bank. Although Deutsche has operations in several central European countries, this would be its first big acquisition in the region. COURSEBOOK, p. 114; VOCABULARY 2 PRACTICE [£> TASK Answer the following questions: 1. Are all people able to take out a loan when they need one? 2. How can microcredit banks secure investments in situations where no collateral is possible on part of the borrowers? 3. How can people in developing countries invest their money if their business has taken off the ground? COURSEBOOK, p. 118; D+D 1. obvinit finanční analytiky, že podávávají nepravdivé údaje o jeho finanční situaci = 2. způsobit pokles akcií =______________________________________________ 3. banka opětovala útok vymáháním odškodného ve výši 10m dolarů = 4. platné/odůvodněné nároky předložené oběma stranami =_______________________ 51 5. připravit seznam přesvědčivých argumentů = 6. mluvčí obou stran (soudního sporu) =___________________ 7. akcie dosáhly svého maxima =_________________________ 8. snížená úvěruschopnost společnosti uváděná ratingovou agenturou 9. důvěryhodnost na trhu =______________ 10. jmenovat experta, aby případ prošetřil = PJI2A Review Test Intelligent Business: Unit 13 - Banking II. Vocabulary: (max. 34 points) points A. Translate the following expressions into English: mít pochyby o domnělém vžitém názoru —__ úroková míra založená na ohodnocení rizika - využít potenciál vysoce rizikové půjčky -____ úvěrové zdroje jištěné zárukou -___________ (2 points each) být shovívavý k mikroúvěrům a zadluženosti podniků -provést bankovní transakci na pobočce -__________ získat rozsáhlou kontrolu nad spravovaným fondem -kótovaná banka pro drobné střadatele -___________ B. Write expressions the following definitions refer to: (2 points each) 1. money that is invested in a new company to help it develop or expand, which may involve a lot of risk but can also bring good profits: 2. the activity of controlling a group of investments with the aim of making the most profit with the least risk: C Complete the sentence with one of the folhwing phrases and translate the selected phrase: (2 points each) SAVINGS, MONETARY POLICY, CHECKBOOK, AFFILIATE, ASSET MANAGEMENT, COERCION 1. The biggest investment bank had to close its___________________________because of its insolvency. In C^ech or Slovak:______________________________________________ 2. It is illegal to use . they are due. In C^ech or Slovak: 3. We provide the service of . investment funds. In C^ech or Slovak:_____ to make debtors repay their debts before for investors and D. Complete the sentences with correct forms of the following verbs; some verbs are not used: (1 point each) MAKE A HABIT- CHARGE - EXERT - IMPLEMENT ISSUE - PUT FOR WARD - SOAR - SEEK DAMAGES 1. Monetary policy______________________________ country. 2. If you borrow some money, the bank will definitely interest. 3. The management more staff. . by the central bank in this 4. Moneylenders frequently a proposal concerning hiring ______their influence on the interest borrowers have to pay. E. Complete each sentence with a word made from the word given in brackets. 1. Stability and prosperity help increase market_________________ (1 point each) (CREDIT) 2. The bank ____________________________________ loans. (KNOW) 3. The potential of the Chinese market is still rather (TAP) that it had made some loss-making 4. I think the . will soon be approved of. (ACQUIRE) III. Grammar: (max. 30 points) points A. Fill in the gaps with a suitable preposition or adverbial, if necessary: (1 point each) 1. 2. 3. 4. 5. 6. Let me talk The interest payment _ Our bank can arrange . The institution acts . behalf___________the company's management now. _________your loan has to be conducted every month. _________you to borrow a big sum of money. _______a financial adviser___________investments. Some people in Africa have to live_______ The insurance company will approach you _ . less than $5 a month! _______the damage investigation. B. Rewrite the sentences with the given words so that they mean the same as the original ones: (3 points each) 1. There are many factors that influence the demand. They include price and quality. There are many factors that influence the demand._____________include price and quality. 2. He presented his view. But a view of this kind was unacceptable for us. It was clear after his presentation that________________________was unacceptable for us. 3. We produce cars in all colors. However, we are now out of red cars. We produce cars in all colors. However, we are now out of the________________________. C Put the VERBS and other words in brackets into their correct forms, add prepositions, particles or auxiliary verbs if necessary. You may need to use the passive forms of the verbs: (1 point each) It is always (worth, TRY, ATTRACT) new clients for banks because these will bring money to them. Banks will __(hard, DENY, GIVE priority) rich clients but they can't (REFUSE, AIM) others either. ______________________ reputation and they (BE USED, TREAT) safe institutions helps them make use of this ____________________________________ (START, OFFER) a new 53 range of banking services. However, banks ____________________________________________ (recent, WARN, clients, A VOID) internet banking since the security has become a problem. It is obvious that clients have to ______________________________________________________ {TEACH, and, TRAIN, SECURE) their computers. Anyway, people ____________________ {ENJOY, SPEND, money) various goods and nobody can ________________{PREVENT, they, DO) so. D. Choose suitable words or phrases that can complete each sentence. The number of correct answers is 0 — 4. (2points each) 1. You can choose between IBM and Dell.________is cheaper while________looks better. A: A former ... a latter C: The latter ... a former 2. Do you like movies? I like especially A- the old ones C: old ones 3. It's absolutely impossible to hire____ B: The former ... the later D: The first... another B: old one D: old those _____person. A: such irresponsible C: such a irresponsible B: such the irresponsible D: a such irresponsible IV. Translation: (max. 16 points) points Translate the following sentences into English: Jakákoliv fúze nebo převzetí v bankovním sektoru musí být schválena centrální bankou, která kromě toho v rámci měnové politiky dohlíží také na stabilitu měny; jejím hlavním hodnotícím kritériem je inflace, která by neměla trvale překročit úroveň 2 %. To však neznamená, že nemá i další cíle a neposkytuje bankovní služby. Ačkoliv je centrální banka nezávislá na vládě, vede běžné účty státních institucí a provádí platby ze a do státního rozpočtu. UNIT FOURTEEN - TRAINING COURSEBOOK, p. 121; READING E> TASK 1 Find in the text the words defined by the following: 0._______________= come together 1._______________= 1. someone who tells secrets about their own country to a country that is their enemy, 2. someone who is not loyal to their friends, family, or employer 2.___________________= 1. to show or describe someone or something in a particular way, 2. if an actor__________a person, they play the part ofthat person in a film, play tec 3._______________= a secret plan by a group of people to do something bad or illegal, especially in politics 4.________________= despite what has just been said. The more usual word is nevertheless. 5.______________= someone who studies a particular subject and knows a lot about it, especially a subject that is not scientific 6._______________= annually 7._________________= to begin fighting with weapons 8.____________= clever at tricking people or at secretly doing unfair or dishonest things 9.________________= an advantage or good quality that something has 10._________________= to be similar to an idea of what is usual or normal 11.______________= to say a poem or story that you have learnt to an audience 12.______________= to encourage someone to speak or continue speaking 13.______________= an attitude that you have that makes you treat someone in a way that is unfair or different from the way you treat other people 14.__________= the belief that people care only about themselves and are not sincere or honest 15._____________________= the murder of a famous or important person, especially for political reasons 16.________________= a system for organizing people according to their status in a society, organization, or other group 17._______________= to force a political leader or a king or queen out of their position of power E> TASK 2 Translate: to assume a prominent place in the field to seize oportunity =________________ to raise crucial questions = to escape the notice of = _ thorough planning =_____ E> TASK 3 Answer the following questions: 1. What was special about the leadership seminar mentioned? What interesting analogies did this seminar draw? 2. What did Brutus do? 3. What were the two reason given to condemn the behaviour of Brutus? 4. Who are Kenneth and Carol Adelman? 5. What formats do their seminars have? 55 6. What do Adelmans's seminars have in common with other more traditional seminars? 7. How do Adelmans's seminars try to create the atmosphere of the plays they use in their seminars? 8. When using Shakespeare's plays do Adelmans always follow the original or adapt it to suit their needs? 9. What question did the participants of the course raise when discussing the story of Brutus killing Ceasar? What analogies did they draw? 10. The example of those who deposed Ceasar but failed to consider the consequences of their action is an example of what? COURSEBOOK, p. 126; D+D E> TASK Find the words in the text which are defined by the following: 0._____________________= to decide officially that sth will be used for a particular purpose; to give sth officially to a particular person or thing 1._____________________= staying away from work, especially often and without good reasons 2._____________________= the rate at which employees leave a company and are replaced by other people 3.___________________ 4. = to find out reasons = 1. based on the best, most complete, and most reliable information, 2 showing that you are used to being obeyed or expect to be obeyed 5.____________________= (adj) real, rather than pretended or false 6.__________________________= used for showing that an amount, number, time etc is not exact; roughly 7. ___________________= something that makes you want to do something or to work harder, because you know that you will benefit by doing this 8.________________________= 1) knowledge or understanding of a subject, issue, or situation; 2) the ability to notice things COURSEBOOK, p. 125; CAREER SKILLS - MOTIVATING E> TASK In the listening exercise find the following. 1. sdělit, o co jde =_________________ 2. Ujmi se toho (úkolu). =________ 3. Okamžitě se do toho dám. =___ 4. Oddělení nedosáhlo svých cílů. = 5. ...za těchto okolností =________ 6. To je strašně moc. =__________ 7. provize komukoliv, kdo splní ta čísla = PJI2A Review Test Intelligent Business: Unit 14 - Training 56 II. Vocabulary: (max. 34 points) points A. Translate the following expressions into English: specializované kurzy vyvinuté zkušenými školiteli mít úzké vazby na úsekové ředitele -__________ (2 points each) vát si na starost problematiku špatné docházky -_______ vzbudit zájem účastníků kurzu (1 word) o případovou studii - ryzí a všestranně rovnostářský přístup -_______________ chopit se príležitosti a vznést otázku -_________________ upravit kurzy vnitropodnikového školení na míru -vydávat rozkazy shromážděným začátečníkům - _ B. Write expressions the following definitions refer to: (2 points each) 1. the work of keeping an accurate record of the accounts of a business: 2. a company that expanded its operations worldwide, became a multinational company and runs its subsidiaries in a number of countries all around the world: C Complete the sentence with one ofthefolhwingphrases; translate the selected phrase: PAYROLL, DOZEN, TUTOR, PREMISES, VIRTUE, AFTERMATH 1. The American economy has to deal with the financial crisis. (2 points each) of the In C^ech or Slovak: 2. Students were assigned a . them. In C^ech or Slovak:_______ . to consult their study matters with i.The from us. In C^ech or Slovak: _ includes all the employees and others who get a salary D. Complete the sentences with correct forms of the following verbs; some verbs are not used: ASCERTAIN- UPDATE - GET ON TO - STICK TO ACT OUT- SCHEDULE - ENROL - OBEY (1 point each) 1. The roles must 2.1 decided . carefully and honestly. for the course on the development of economic theories. 3. I'd like you______________________ you attended. 4. The classes all your colleagues on the training course ____for all members of junior management. E. Complete each sentence with a word made from the word given in brackets. (1 point each) 1. Management issues include for instance crisis management or _______________________planning. (SUCCEED) 2. It must be that we are a successful 57 company. (KNOW) 3. People will believe you 4. You'll have to sell if you (CONVINCE) to be given commission. (ADD) speak III. Grammar: (max. 30 points) points A. Fill in the gaps with a suitable preposition or adverbial, if necessary: (1 point each) 1. You should empower_________your subordinate to make some decisions for you. 2. I'll never sign up_________such a class. 3. Tom always has little good to say_________his boss. 4. The BBC analyzed responses_________a standard questionnaire. 5. How would you feel_________participating_________a role-play session? 6. What does your report refer_________? B. Rewrite the sentences with the given words so that they mean the same as the original ones: (3 points each) 1. John invested all his money although his financial situation wasn't very good. In spite of______________________________, John_________________________________. 2.1 went to bed early so that I would be able to get up at 5 a.m. I went to bed early to____________________________________________________________. I 3. You weren't at home yesterday so I didn't visit you. __________________________if you_______________ C Put the VERBS and other words in brackets into their correct forms, add prepositions, particles or auxiliary verbs if necessary. You may need to use the passive forms of the verbs: (1 point each) Training courses enhance the employees' effort______________________________(LEARN, COPE) various situations at work. They_____________________________________(TRAIN, PREPARE) stressful as well as unpleasant situations. A good employee should____________ should . people (able, IMAGINE, USE) new approaches at work and training _____________________(HELP, they, ACHIEVE) this. Many (recent, PRACTISE, BE responsible) many areas but they rarely succeed without proper training. Despite (RECOMMEND, TAKE) courses, consulting firms also suggest ____________________________ (INVITE, staff, OBSERVE) real decision-making within a company. The management should not would (MAKE, workers, ENROL) these classes but ideally the employees ________________________________(DEMAND, VOLUNTEER, TAKE PART) them. D. Choose suitable words or phrases that can complete each sentence. The number of correct answers is 0 — 4. (2points each) 1. The manager resigned______ A: since C: despite 2. The manager resigned______ A: despite of being innocent she was accused of fraud. B: because D:ís B: even though of being innocent 58 C: in spite of that she was innocent D: although her innocence 3. The person_________________ A:, who you met last Monday, C:, that you met on Sunday, . is my boss. B: you met on Wednesday D: who met you on Tuesday IV. Translation: (max. 16 points) points Translate the following sentences into English: Tato firma poskytuje rady ohledně vhodného školení a také nabízí praktické zkušenosti od začátečnické po expertní úroveň, což má účastníkům umožnit aplikovat získané znalosti na své pracovní životy. Toho využívají významné firmy, které ví, že je v jejich zájmu převzít plnou odpovědnost za zlepšování klíčových dovedností zaměstnanců, protože oni potom budou pociťovat osobní význam dosaženého úspěchu a jejich uspokojení z práce vzroste. UNIT FIFTEEN - CONSULTING COURSEBOOK, p. 129; READING E> TASK Answer the following questions: 1. What/Who are professional-service firms compared to? 2. When did the interest in and popularity of those professional-service firms peak? 3. Did professional-service firms go global only to follow their clients or did they become successful globalisers themselves? 4. How would you characterize accounting firms in their attempt to go global? 5. Did/Does the attitude of accounting firms to doing business create problems? 6. Sarbanes-Oxley Act supports the existence of global professional-service firms and their attempt to offer as a wide portfolio of services as possible. T/F 7. The global attitude of the professional-service firms might not always be the best strategy for winning local clients. T/F 8. Best services are always offered by big global professional-service firms. T/F 9. After conquering the local markets, multinationals like to have their own people in managerial positions in foreign countries. This is compared to the behaviour of ancient armies. T/F 10. Why is it necessary for professional-service firms to be to a certain extent international? 11. Who/What is Charmed Circle? What do they do differently? COURSEBOOK, p. 132; LISTENING E> TASK Translate: 1. Jsem částečně na vině. = 2. Nezaznamenal jsem potřebu přizpůsobit naši cenovou politiku.. = 3. To pro mě bylo zjevení. = E> TASK Fill the gaps with the words you hear. MD: Well, we are thinking of .L. they have made us an offer, ________________________________(4 words) the hypermarket - you know - or possibly trying to compete with them. 2^. (5 words). We need a consultant to advise us on the best course of action. What do you think we should do? C: I'll have to do a full audit before I can answer that but my inital feeling is: don 't sell. Let's look at the quality aspect a bit more and possibly even put up prices! My job is to 3^ _______________________________________________________________(10 words)and make it an advantage. It's a risk, but we may need to invest in a huge advertising campaign to attract customers back to the store - but it often 4,________________(2 words). COURSEBOOK, p. 133; CAREER SKILLS E> TASK Fill the gaps with the words you hear. A: I've just come from a meeting with the new consultant and he said that if we 1^ ___________________________________(3 words) them, we would have to have complete confidence. B : What does that mean exactly? 60 A: Well, they need access to every type of information we have, and he suggested co-operating fully with their team. So, I 2.________________________________(4 words). B: So they can tell us how to do our job! A: Look, 3.__________________________(3 words) is the CEO wants us to give them our full cooperation and I 4.____________________________________________(5 words) just yet. And the consultant pointed out that they may make improvements !L______________________________(2 words). B: Or ruin us completely with their fees! A: Look, the CEO told us at a meeting last week that he 6._________________________(4 words) on the basis of their evaluation of each department. What he wants us to do is work with them, not against them - so let's do it. COURSEBOOK, p. 134, D+D E>TASK1 Wordformation. 1. CIC Consultants is proud of the___________________of one of its main clients. (PERFORM) 2. This senior_____________________was first alerted to the problem when the CEO asked her to lie. (ACCOUNT) 1. Consultants have a _____________________ clause in their contracts, but there is a limit to how much one should take for. (CONFIDENCE, OBVIOUS, RESPONSIBLE) 2. He said he wasn t aware of any________________________before receiving this letter, (not REGULAR) 3. She finally made a decision to go to the__________________with her story. (REGULAR) E> TASK 2 Fill the gaps with the words you hear: This is indeed an interesting dilemma. Consultants have a 1.______________________________ (2 words) in their contracts, but obviously there is a 2. _____________________________________________________________ (9 words). This case is obviously pre-regulation and the Sarbanes-Oxley Act. In fact, it reminds me of the situation Sherron Watkins 3._____________________________________( 4 words) Enron. Of course, she was an employee of the company and not of their auditors, but she faced a similar dilemma. She didn't contact anyone from outside the company straightaway. However, she 5. __________________________________________________ (5 words) to the CEO, to inform him that the company was 6.__________________________________________________(8 words) . He later said that he wasn 't aware of any 7.____________________(1 word) before receiving the letter. She then met face to face with him, and an 8.___________________________ (2 words) was opened. Her 9._______________________________(3 words) but we know now that Enron was getting deeper and deeper into debt. She finally made the decision to go to the regulators with her story. Her critics say she spoke out when she was sure the company was 10. ____________________________ (4 words) and that she first 11. ____________________________________________ (6 words) $17, 000. This was minimal compared to other executives. However, I think she did achieve something, as she said herself: as a result, the 2002 Sarbanes-Oxley Act requires CEOs and COFs to 12.______________(1 word) that financial accounts are true. If 13.________________________________________ (6 words), they face up to 20 years in gaol. Monetary fines don't do it: if you've made $100 million and you are fined $25 million, you are still very rich. But the idea of gong to gaol 14. ________________________________________________(5 words). 61 COURSEBOOK, p. 131; READING-VOCABULARY 1. What were the accounting firms originally hired for? How and why did they diversify? 2. What is Securities and Exchange Commission? Securities and Exchange Commission (commonly known as the SEC) is a United States government agency having primary responsibility for enforcing the federal securities laws and regulating the securities industry/stock market. The SEC was created by section 4 of the Securities Exchange Act of 1934 (now codified as 15 U.S.C. § 78d and commonly referred to as the 1934 Act). In addition to the 1934 Act that created it, the SEC enforces the Securities Act of 1933, the Trust Indenture Act of 1939, the Investment Company Act of 1940, the Investment Advisers Act of 1940, the Sarbanes-Oxley Act of 2002 and other statutes. The SEC is composed of five commissioners, no more than three can be from a single political party. Currently the SEC has only three commissioners; chairman Christopher Cox (R), Paul S. Atkins (R), and Kathleen L. Casey (R). [1] At present, the SEC does not have any Democratic commissioners. [edit] Overview The SEC was established by the United States Congress in 1934 as an independent, non-partisan, quasi-judicial regulatory agency following years of depression caused by over production of goods, the introduction of consumer credit, and the Great Crash of 1929. The main reason for the creation of the SEC was to regulate the stock market and prevent corporate abuses relating to the offering and sale of securities and corporate reporting. The SEC was given the power to license and regulate stock exchanges. Currently, the SEC is responsible for administering six major laws that govern the securities industry. They are: the Securities Act of 1933, the Securities Exchange Act of 1934, the Trust Indenture Act of 1939, the Investment Company Act of 1940, the Investment Advisers Act of 1940 and, most recently, the Sarbanes-Oxley Act of 2002. The enforcement authority given by Congress allows the SEC to bring civil enforcement actions against individuals or companies found to have committed accounting fraud, provided false information, or engaged in insider trading or other violations of the securities law. The SEC also works with criminal law enforcement agencies to prosecute individuals and companies alike for offenses which include a criminal violation. To achieve its mandate, the SEC enforces the statutory requirement that public companies submit quarterly and annual reports, as well as other periodic reports. In addition to annual financial reports, company executives must provide a narrative account, called the "management discussion and analysis" (MD&A), that outlines the previous year of operations and explains how the company fared in that time period. Management will usually also touch on the upcoming year, outlining future goals and approaches to new projects. In an attempt to level the playing field for all investors, the SEC maintains an online database called EDGAR (the Electronic Data Gathering, Analysis, and Retrieval system) online from which investors can access this and other information filed with the agency. Quarterly and annual reports from public companies are crucial for investors to make sound decisions when investing in the capital markets. Unlike banking, investment in the capital markets is not guaranteed by the federal government. The potential for big gains needs to be weighed against equally likely losses. Mandatory disclosure of financial and other information about the issuer and the security itself gives private individuals as well as large institutions the same basic facts about the public companies they invest in, thereby increasing public scrutiny while reducing insider trading and fraud. 62 The SEC makes reports available to the public via the EDGAR system. SEC also offers publications on investment-related topics for public education. The same online system also takes tips and complaints from investors to help the SEC track down violators of the securities laws. 3. Where did the SEC see a potential conflict? How did they try to solve it? 4. How was the attempt of the SEC at solving this problem seen by the accounting industry? 63