COMPREHENSIVE MATERIAL FOR WINTER TERM 2010 Course: English I/1 Intelligent Business – Upper-Intermediate Unit 1 tomankova@econ.muni.cz UNIT ONE – ALLIANCES COURSEBOOK, p. 8; LISTENING Complete the following sentences with the most suitable words. ______________ = two or more companies join together to create a single company. _____________ = similar to a merger with one company taking control by buying more than half the shares. ______________ = two or more companies make a joint investment in a project without actually merging. __________ = two people or businesses who work together. ______________ = an animal that kills and eats other animals Description of the main picture of Unit One. The picture shows a man _________ a lion stalking his ___________ – a group of people ___________ a variety of animals. The scene represents a company boss preparing to pounce on weaker companies, as potential ______________. Translate. 1 perfektní aliance = 2 oblíbený nápoj s příchutí kávy = 3 splnit strategické cíle = 4 čelit konkurenci sám = 5 silní/mocní hráči v automobilovém průmyslu = 6 nemít od začátku šanci = 7 být spojován s image Disney = COURSEBOOK, p. 9 Create questions to these answers. 1. Hibernation. 2. Spring in someone´s step. 3. Because of the dot-com boom. 4. Rapid growth of internet-based business 5. a situation in which you hurry to do something, especially because you do not have much time Answer these questions. 1. Which attempt is more likely to succeed : acquisition of a company or creating a brand new business? What is the success rate for each of them? 2. What is it a conglomerate and why did they go out of fashion in the 1990s? 3. General Electric was a representative of what kind of company in the 1990s? 4. The attempt of Brian Roberts of Comcast, a giant cable company, to buy Disney is an example of what type of acquisition? Did this type of acquisition prove highly successful in the past? 5. What is more difficult to find a good acquisition target or to handle the future life of the newly created company? 6. Many CEOs have a tendency to overestimate or underestimate their abilities to make mergers. COURSEBOOK , p. 9; WORDFORMATION Complete the gaps with the correct forms of the WORDS in brackets. 1. If CEOs wish to avoid some of the ___________ of the 1990s, /FAIL/ 2. they should not forget that they are ________ to the ____________ tendency of business planners to be over-confident. /SUBJECT, ETERNITY/ 3. It is a near ___________ that, if asked, almost 99% of them would describe themselves as “above average“ /CERTAIN/ 4. at making mergers and _____________ work. /ACQUIRE/ 5. They should also be aware that they will be __________ influenced by the herd instinct. /POWER/ 6. In the coming months they will have to watch _____________ to be sure that the _______________ space into which the predator in front of them is _______________ leaping does not life at the edge of a cliff./ CARE, COMPETITION, JOY/ COURSEBOOK, p. 9; TRANSLATION Translate. 1. zlepšit své (oni) naděje na úspěch = _____________________________ 2. často citovaná statistika = _______________________________ 3. konglomerát jako dobrý cíl akvizic vyšel z módy = _____________________ 4. hnát se za snem spojit zábavu s distribucí = ______________________ 5. získat a rozdělit podhodnocenou firmu = _________________________ 6. ovlivněn stádovým instinktem = ______________________________ COURSEBOOK, p. 14; D+D, BREAKING THE ICE Translate. 1.prolomit ledy = 2. učinit nabídku koupit B&J = 3. odmítnout nabídku = 4. typické znaky jejich obchodní filozofie = 5. najít společnou řeč / něco společného = 6. angažován v debatě o společenské odpovědnosti = COURSEBOOK, p. 14; WORDFORMATION 1.What _____________ or compromises do you think they would ask for? /CONCEDE/ 2. Is it possible for two companies with _______________ different cultures to merge and work together? /SEEM/ 3.They founded a company with a $ 12 000________________. /INVEST/ 4.They are recognised for fostering their company´s ______________ to social_________________. /COMMIT, RESPONSIBLE/ 5.He is a practical left-___________. /WING/ 6.He insisted, against__________ , on ______________ facilities. /OPPOSE, SEGREGATE/ 7.Vietnam, Ghana and other parts of the ______________ world. /DEVELOP/ WORKBOOK, p. 5; WORDFORMATION 1.IMS Health, a data and ________________ firm. /CONSULT/ 2.It´s a gloves-off business compared to the ________________ boxing match which is Big Pharma. /GENTLEMAN/ 3.Companies need to be big enough to dominate ___________________ channels. /DISTRIBUTE/ 1.udržovat nízké náklady = 2.omezený přístup k lékům = 3.plucky underdog business = 4.opportunity ebbs and flows = TASK Find in the text words described by the following. 1. _____________ = a) FORMAL relating to or suitable for a range or class of similar things, b) a generic drug or other product does not have a TRADEMARK and is sold without a company’s name on it 2. _____________ = brave and determined, especially when success is unlikely, GUTSY 3. ____________ = a) a sudden attack on an area controlled by other people, b) a situation in which someone or something enters an area where they do not belong 4. __________ = a) a person, team, or group that seems least likely to win a game, competition, election etc, b) a person or group that has very little money, power, or social status 5. __________ = to complain, especially continuously and about unimportant things, MOAN 6. ___________ = a) a place where people fighting an enemy can defend or organize themselves: b) a place where the majority of people have the same political or religious beliefs: The area is no longer a Republican stronghold. c) a place where something that is no longer common can still be found: Some of the smaller birds have a stronghold in the New Forest. WORKBOOK, p. 6; LISTENING Complete the gaps with the words you hear. The sentences with slight modifications have been taken out of the text you will hear and have been listed in the order they appear in the original exercise. 1. Univeler has long been___________________________________. 2. As an Anglo-Dutch multinational with two boards and two_________________________, it is often compared with Royal Dutch/Shell. 3. So with RD/S having decided_____________________________________, and P&G last week _________________ Gillette.. for $54 billion, expectations have been rising that Univeler would_________________. 4. But there is so far _____________________ that would help Unilever __________________________ the new P&G/Gillette combination. 5. Colgate-Palmolive and Reckitt Benckiser are possible__________________. 6. On February the 9th Reckitt announced an increase _______________________________ £770m from £660m in 2003. 7. Univeler´s debts are high: at the end of December _______________________________ £9 billion. 8. The company needs to _____________ its own problems before it ___________________ the complex integration of another business. Last year sales were ___________________ and operating profits_____________ . In September 2004 came the first warning that it _____________________ a promised increase in profits. That ________ it this week to __________________________________________ it had set itself for the next five years. 9. Univeler spends 14.5% of its_________________________ , which is more than the 12% spent by Nestlé, but far less than the 20% that P&G ________________________ promoting its products. The problem also _______________________ that the company spends its advertising budget. It made a mistake _____________________ longer-term advertising for short-term promotions _______________________________________of market share. COURSEBOOK, p. 10, READING – TO MERGE OR NOT TO MERGE Translate. 1. zajistit rychlý růst = 2. diverzifikovat investiční portfolio = 3. prodej vládou vlastněných podniků = 4. získat potenciální soupeře = 5. šéfové společností na čekané = 6. stát se možným cílem převzetí = 7. neuspět ve zvýšení hodnoty pro akcionáře = 8. vytvářet bohatsví pro všechny zúčastněné = 9. vedoucí oddělení fúzí a akvizic = 10.osobnostní střety = 11. vydělat obrovské jmění = Questions to the text. 1 Why do companies engage in mergers and acquisitions? 2 Why has made this activity more possible/easier these days? 3 What are the chances of performing a good acquisition? 4 What are the main reasons behind the alliances ending in failure COURSEBOOK, p. 12, LISTENING Part 1: Translate. 1. we´ve been rewarded for our determination = _______________________________ 2. we´ve been approached with the acquisition deal = ___________________________ Complete the gaps with one suitable word. We therefore saw the opportunity ______ an aliance with Wireless ______ a way to save the company. However, six months _______ the aliance, we didn´t feel like that any more. We had really serious problems __________ to intergrate our systems and cultures. Part 2: 1. předměty / body sporu Well, there were so many _____________________ you wouldn´t believe it. 2. protichůdné přístupy k; obchodování Different companies often have ___________________________ different aspects of __________________________. 3. řídit / zvládat We _____________ sales and marketing in a completely different way. 4. suitable word To ___________ an acquisition work, you have to understand how products will work together. 5. dávat přednost individuální interakci We have always encouraged our teams to work together, but the bossess at Wireless _______________________ with each team. 6. Za poslední a nejdůležitější _________________________, we didn´t think of trying to overcome our relationship problems by having some human contact. COURSEBOOK, p. 11, ARTICLE Complete the below extract with the correct translation of the below Czech phrases. 1. až do té doby 2. vzdát se v rámci nové smlouvy vedoucího místa (hrát druhé housle, stáhnout se do pozadí) 3. jednoduchá fúze sobě rovných jedinců za podmínky, že se stane generálním ředitelem 4. skončit svou kariéru na vrcholu … The situation only became clear after the deal was made and signed: 1.________________, Dimon, the top man at Citigroup before joining Bank One, had not wanted to 2._______________________________ and only agreed to 3._______________________________________. Harrison, who has made some disastrous acquisitions over the years, wasn´t happy because he wanted to 4.____________________________________. Questions related to the text. 1. What preceded a deal signed by Mr Dimon and Mr Harrison? 2. How long has Mr Dimon been the CEO at Bank One? 3. How much will Mr Dimon be paid for the privilege of keeping the post of the CEO? 4. On whose behalf has Mr Harrison made this decision? 5. which phrase in the text is used to express a situation when sb loses their control of sth? 6. What type of merger did Mr Dimon want? 7. What reputation does Mr Harrison have in the world of mergers and acquisitions? 8. How did Mr Harrison want to finish his career? 9. Are shareholders invited to participate in such big decisions? 10. What result of the merger can the shareholders expect? WORKBOOK, p. 5; READING 1. What does the title of the article mean? Combination of what? 2. What has Novartis done? 3. What does the word generic mean? 4. What is Sandoz and How will it benefit from the acquisition? 5. What is the forecast development for the global generic drugs market? 6. What was the big pharmaceutical firms´ attitude to generic drugs a few years ago? 7. Are mergers of „official“ pharmaceutical firms and generic drugs firm likely to succeed? 8. How are the two types of business described in the way they do business? 9. In generics what does success depend on? UNIT 1 –ALLIANCES - GLOSSARY 1. ___________ = when one company buys another one or part of another one 2. _____________ = additional advantages, profits, etc. that are produced by two people or organisations combining their ideas and resources. 3. _______ = an offer to buy something at a stated price. 4. _________ = the creation of a new company by joining two separate companies. 5. __________ = a unit of the capital of the company. These units can be bought and sold on their special exchange called _______ exchange. 6. ____________= partnership formed as part of a plan with important aims 7. _________________ = a large business organisation consisting of different companies that have joined together 8. _____________ = a company which has offices, factories, activities, etc. in many different countries 9. ________________ = the attitudes or beliefs that are shared by a particular organisation 10. ______________ = an offer to acquire a company 11. ___________________ = a company whose shares are publicly tradeable, i.e. they can be bought and sold on the stock market 12. ________________ = an important ability or strength that a company has that makes it successful and gives it an advantage over its competitors, the main thing it does Grammar of Unit 1 – additional exercises REVIEW OF TENSES Source: Emmerson – Business Grammar Builder I. Present Simple x Present Continuous – Přítomný prostý x Přítomný průběhový I TASK Match sentences 1-5 with their uses a)-e). a) permanent facts b) habits and repeated actions c) actions in progress at the moment of speaking d) temporary actions happening “around now“ e) current trends and changing situations 1 These days we´re selling more and more of our products abroad. 2 Look! They´re selling malt whisky at 20% discount in duty free! 3 We´re selling the new model, but we don´t have any in stock right now. 4 We usually sell around 40% of our annual total at Christmas time. 5 We sell a full range of consumer electronics, from TVs to cameras. I TASK Complete the newspaper article about the Brazilian company Gerdau by using the words from the list below. Each set of words fills two spaces. [DEL: is becoming / companies :DEL] is making / flexible is attracting / attention is approaching / market share is getting / right is raising / plants is beginning / expectations is modernising / law Gerdau: a Brazilian success story Gerdau, the Brazilian steel maker, (1a) is becoming one of Latin America´s most successful (1b) companies. It (2a) ________________ productivity in its (2b) __________________; it (3a)_______________ the price and timing of its takeovers of smaller companies (3b)________________________; and, most important, it (4a) _______________ to understand investors´ (4b)__________________________ . Investors want a firm that´s focused and transparent, with a simple share structure, and that´s exactly what Gerdau gives them. The only problem in the short term is a problem of success. Gerdau (5a) _____________ a 50% (5b) _________________ in its domestic market, and so it (6a)____________________ the (6b) ________________ of Cade, the monopolies authority. These days it´s much easier to do business in Brazil. The government is simplifying the company-tax structure, it (7a) ________________________ the labour market more (7b)________________ by changing the restrictive labour laws, and it (8a) ____________________ company (8b)_________________ in general. & THEORY State verbs: Some verbs describe states, not actions. Verbs like this are not normally used in the continuous form of any tense. I notice that you´ve moved your desk. (NOT [DEL: I´m noticing :DEL] ) Sorry, I don´t understand. (NOT [DEL: I´m not understanding :DEL] ) How much does it cost? (NOT [DEL: is it costing :DEL] ) It weighs 4kg with the packaging. (NOT [DEL: It is weighing :DEL] ) These examples are in the present simple though we are talking about temporary situations. State verbs include: * the senses: appear, hear, look, like, notice, see, seem, smell, sound, taste (=to have a flavour) * feelings: dislike, fear, hate, like, love, prefer, want, wish * thinking: agree, believe, doubt, expect (=believe), feel (=believe), forget, imagine, know, realise, recognise, suppose, suspect, think (=believe), understand * possession: belong to, contain, have (=possess), include, own, possess * being: be, consist of, exist * other verbs: cost, depend on, fit, involve, matter, measure (=have length), mean, need, satisfy, surprise, weigh Analysts expect that shares in the demerged P&O Princess Cruises will trade initially at about 400p a share, which means that P&O is currently undervalued. However, some analysts think that the arrival of new cruise ships on the market will produce a fall in profits. Some of the verbs mentioned in the previous list can have a “state“ meaning and an “action“ meaning. Examples include be, have, taste, think. * Our suppliers are usually very helpful. (state) * Our suppliers are being very helpful at the moment. (action) * I have two sisters. (state) * I´m having problems with my computer. (action) * This soup tastes salty. (state) * I´m tasting the soup to see if it needs more salt.(action) * I think you´re right. (state) * I´m thinking about changing my job. (action) I TASK Complete this article about the magazine TIME OUT by using words from the list below. Decide whether to put the verbs into the present simple or present continuous. [DEL: own :DEL] ; look for; move; investigate; rely; want; provide; try to Time Out: time to expand Time Out, the London entertainment magazine, has plans for expansion. It already (1) owns the monthly magazine Paris Passion, and now it (2)_____________________ beyond France to other markets such as Argentina and Japan. Tony Elliott, Time Out´s founder, says he (3) _________________ local people to initiate and run the magazine, as Time Out´s London officed doesn´t have the cash or management time. Elliott also has plans for the website, Timeout.com, which was launched in 1995 and (4) ______________ information about more than 30 citites. It (5) _______________ on advertising revenue and a small amount of money from ticket sales to survive. But as Time Out changes and expands, Tony Elliott (6)_______________ persuade advertisers in the printed version to take more space on the Internet site. Also, he (7)_______________ the possibility of charging visitors to the site for access to some information. Despite these expansion plans, Elliott says a flotation on the stock market is out of the question. He (8)________________ to keep control of the business he has built up. I TASK Complete these texts with one of these set of verbs, using each verb once only. Choose either the present simple or present continuous for all the missing verbs in each text. say/tell/ do talk/threaten/negotiate recommend/warn/apologise [DEL: spend/recover/find :DEL] suggest/hope/promise 1 She is only just recovering from the operation and is still finding it difficult to move about. At the moment she is spending most of her time in bed. 2 What I __________ is that you __________ well in your job. Really! I______ you the truth. 3 I __________ I´ll do everything I can to help you to find a flat, although I __________ that you also advertise in the local newspaper. It can be difficult to find accommodation, but I _________ it won´t be too long before you´ve got somewhere. 4 The fishing unions________ with their employers for a pay rise. If there is no agreement by next week, they _________ to strike and even __________ about blockading ports around the country. 5 I ________ for the delay in replying to your letter. To place an order for the book you require, I ____________ that you phone Mrs Jones in our sales department. I ________ you, however, that delivery time is likely to be about six weeks. I TASK Complete the sentences by putting each verb into a form of the present simple or present continuous. In each sentence the verbs may be in the same or different tenses. 1 Each time inflation______________ /go up/, people _________ /demand/ higher wages. 2 Inflation ____________ /fall/ quite quickly, which ______________ /mean/ that the government can keep interest rates low. 3 ______________ /you, wait/ for Victoria Chambers? I __________ /not, think/ she´ll be long. 4 What exactly ___________________ /our customers /want/? Nobody around here _______________ /seem/ to know. 5 Carlo doesn´t have much experience of this situation. I _____________ /hope/ he _____________/know/ what he _______________/do/. 6 What exactly ________________/you, mean/? I _______________/not,understand/. 7 What exactly__________________/you, say/? ________________/you, want/ to renegotiate the whole contract? 8 _____________ /your chicken, taste/ OK? The food here is usually very good, but of course it all ______________/depend/ on which particular chef _____________ /work/ in the kitchen on that day. II. Past Simple x Past Continuous = Minulý prostý x Minulý průběhový & THEORY PAST CONTINUOUS - USES * The past continuous is used to describe a situation in progress in the past. I was waiting in the departure lounge for more than two hours. * There can be several situations in progress, happening at the same time: The early 1970s was a time when IBM was beginning to lose its way and many skilled people were leaving to set up their own businesses. Computing was entering a new age. * The past continuous is used to give information about the background situation. The separate, completed actions that happen during or after this period are in the past simple. I came in to Oracle as it was recovering from the recession of the early 1990s. The business unit I joined had an ageing product line that was declining by 30% a year in sales. Within a year we completely turned that unit round. * If we do not mention the background situation then the separate actions are in the past simple in the normal way: When I arrived I registered at reception and went straight to the conference hall. PAST CONTINUOUS – TIME EXPRESSIONS * We can use when, while or as with the past continuous to mean “during the time that something was happening“: While Plattner and Dietmar Hopp were developing the first real-time order processing at SAP, Claus Wellenreuther was writing the financial software. PAST SIMPLE OR PAST CONTINUOUS?? * Sometimes the past simple or past continuous can be used. The past simple suggests a separate, complete action or event. The past continuous emphasizes the duration of the action. We discussed the report and agreed that Peter should prepare some detailed figures before the next meeting. We were discussing the report for over an hour. Eventually we agreed that Peter should prepare some detailed figures before the next meeting. I TASK Complete the sentences by putting the verbs in brackets into either the past simple or past continuous. Sometimes the same tense is used twice; sometimes different tenses are used. 1 What did you eat (eat) when you went (go) to Paris? 2 While I was negotiating (negotiate) the contract, my boss phoned (phone) me to say that he wanted completely different conditions. 3 The last time something like this _____________ (happen), she __________ (call) a press conference immediately. 4 Anne _______________ (explain) her proposal when Pedro _____________ (interrupt) her. 5 We never got the chance to interview him. While we______________ (investigate) the incident, he ____________ (resign). 6 When he_______________ (finish) reading the article, he ________ (give) it to me. 7 Everyone ______________ (wait) for the meeting to begin when he _________ (call) to say that he was stuck in a traffic jam. 8 When I _____________ (clean) the piece I _______________(drop) it by mistake. 9 I _______________ (find) the missing file while I _________ (look) for some other documents. 10 When Tim __________ (arrive), we__________ (tell) him what had happened. III. Past Perfect Simple and Continuous– Předminulý čas prostý a průběhový I TASK Complete the sentences with the proper forms of the verbs given (Past Perfect Símple, Past Perfect Continuous, Past Simple) 1 David ____________he ____________ her somewhere before, but he couldn´t remember where. (KNOW, SEE) 2 When I got to the office I ___________ I __________ all my papers behind. (REALISE, LEAVE) 3 Ellen was sure they ______________ the invoice, but she ___________ one more time. (RECEIVE, CHECK) 4 I thought we ________________ the name for the new product.(CHOOSE) 5 Around 1993 Korean corporations __________ turning to Park to acquire companies in the US or Europe. By this time, he _____________ sufficient contacts to help them.(START, BUILD UP) 6 I______________ on the project for two months before they decided to cancel it. (WORK) 7 I ________________well, so I was quite tired. (SLEEP) 8 How long _________________ on the project before they cancelled it?(you, WORK) 9 Before he ___________ IBM he ____________ together a software package for the UK-based chemical company ICI. He _________________ on this project during 1971 and 1972. (LEAVE, PUT, WORK) 10 I ________________ what to do before he called me. (already, DECIDE) 11 At the time I still _________________ what to do. (not DECIDE) 12 At the time I still ___________ what to do. (not KNOW) 13 We arrived at Sue´s office after she___________. (LEAVE) 14 When we arrived at Sue´s office, she__________________. (LEAVE) 15 The economic situation was quite healthy. The central bank ______________ interest rates because inflation _________________ steadily for several years. (LOWER, FALL) 16 By 1997 the national debt ________________ and the British economy was once again at risk of repeating the pattern of inflation followed by recession. (DOUBLE) & THEORY USED TO/ WOULD + infinitive Used to describes a habit or state in the past. There is no present form (for present habits we use present simple). “Price dictates what motorists put into their petrol tanks. Lots of people who used to have their doubts about diesel from biological sources are now regular users“, says D. Enders, who owns an independent filling station in Germany. Used to normally suggests that the action or situation is no longer true and so makes a contrast with the present: I used to work in marketing. (= but now I work in another area). He used to be really enthusiastic about his job. (= but now he isn´t) I didn´t use to work in marketing. Would is used in the same way as used to, but it only describes repeated actions in the past, not states. In the old days we used to / would make three copies of all documents for the files. Our company used to belong to an American multinational. (NOT would belong) I TASK Alan is talking about his first job. Complete what he says with the best form of the verb in brackets. Choose between the past simple, past continuous or past perfect. Interviewer: So, Alan why did you quit your last job? Alan: Well, at the time I (1) was working (work) as a financial officer for an International Accountancy firm in London. I (2)_________________ (be) in the same company for three years. I: How (3)_____________ (you/get) the job? A: Just after I (4) __________(finish) university I (5) _____________ (go) to a job fair. I still (6) _____________________ (decide) what I wanted to do and I was interested to see what kind of jobs there (7)___________ (be) at the fair. While I (8)_______________ (look) at information on one of the stands for a large international accountancy firm, someone (9)________________ (give) me an application form to fill in. I thought this might be a good career opportunity for me as I (10)________________ (already, take) some accountancy exams for my degree. So I (11)______________ (complete) the form and (12)__________(send) it off. They (13) _______________ (interview) me the following week and I got the job. At first, I (14)_________ (feel) satisfied with the job, but as time went by, things (15) ___________ change and I began to hate working there. I: So what (16) ___________ (go) wrong? A: Well, the situation was this. (17)_______________ (work) for a person who was very difficult, er…very demanding….never satisfied. What´s more, my job (18)___________ (become) too repetitive and I really wanted to do something more creative. So, that´s why I resigned… I (19)_____________ (not have) another job to go to, but I knew I (20)__________ (have) to make a change. IV. Present Perfect Simple x Present Perfect Continuous = Předpřítomný čas prostý x Předpřítomný čas průběhový I TASK Complete the sentences with the correct forms of the verbs in brackets. 1 Have you ____________ in front of a large audience? (ever, SPEAK) 2 We ___________ in business for 37 years, so the Internet to us is just another way of collecting orders. (BE) 3 UPS became a worldwide Olympics sponsor in 1994, and since then it _____________ the Atlanta games in 1996 and the 1998 Japan winter games. (HANDLE) 4 This is the first time I ________________ for a job with a multinational company.(INTERVIEW) 5 She´____________ to visit our suppliers. She says everything seems to be OK. (BE) 6 She´___________ to visit our suppliers. I hope she will say everything is OK there. (GO) 7 I ______________ the whole morning. I _____________ one new chapter of my diploma thesis. (WRITE, WRITE) 8 Why are you so tired? I _____________ for the exam. I ____________ almost everything. (REVISE, REVISE) 9 I ___________________ on this project since December. (WORK) 10 We_____________ this new boss for 3 months now.(HAVE) 11 Since she left, we _______________ wonderful time. (HAVE) 12 She´s lost her temper with the boss. It´ s the second time, it______________. (HAPPEN) 13 He is new to my colleagues but I _______________ him for ages. We__________ friends since we ___________ grammar school. (KNOW, BE, LEAVE) 14 I ____________in Brno for 6 years. (LIVE) I TASK Look at the paired sentences below. Match each one with situation a) or b). 1 Inflation has fallen by 1%. 2 Inflation fell by 1%. a. Two years ago it was 4%. Last year it was 3%. b. Last month it was 4%. This month it is 3%. 3 I think I´ve lost the file. 4 Sorry, I lost the file. a. I can´t find the file. I wonder where I put it? b. The file has gone and I´ll never find it. 5 Has Jane called this morning? 6 Did Jane call this morning? a. Jane promised to call this morning. It´s 11 a.m. b. Jane promised to call this morning. It´s 2 p.m. 7 Sales improved. 8 Sales have improved. a. Last year sales were poor. This year they are better. b. Sales were poor initially. A year later they were better. 9 How long have you worked here? 10 When did you start working here? a. In 1999. b. Since 1999. I TASK Match the sentences and their explanations. 1 I´ve been waiting for an hour. Why are you so late. 2 I´ve been waiting for an hour and he hasn´t arrived yet. a. I will continue waiting. b. the waiting is finished. 1 I´ve written the report. 2 I´ve been writing the report. a. the finished report is in my mind b. the act of writing is in my mind I TASK Complete the text with the correct forms of the verbs given in brackets. The technology-heavy Nasdaq index _________ (FALL) for three weeks, and _______ (BE) now 34% lower than its March peak. Shares of companies announcing poor results ________ (FALL) by a third or a half after profit warnings. Review Test PJI1A Intelligent Business: Unit 1 - Alliances I. Listening: (max. 20 points) points ------------------------ II. Vocabulary: (max. 34 points) points A. Translate the following expressions into English: (2 points each) podléhat uzavřené dohodě – _________________________________________________ zvýšit podíl na trhu – _______________________________________________________ dovolit si ustoupit do pozadí – _________________________________________________ hladce se přizpůsobit firemní kultuře – _________________________________________ být posuzován za nabídku k převzetí – _________________________________________ skončit obrovským neúspěchem – _____________________________________________ pustit se do obchodních příležitostí – __________________________________________ oznámená fúze a navrhované převzetí – ________________________________________ B. Write expressions the following definitions refer to: (2 points each) 1. a company that is formed to buy shares in other companies which it then controls: 2. an agreement between two or more organizations to work together: C. Complete the sentence with one of the following phrases; translate the selected phrase into Czech. (2 points each) REVENUES, CEO, CORPORATE ALLIANCES, COSTS, SHAREHOLDERS, MDO, ANIMAL SPIRITS 1. Whenever two major companies announce a merger, _________________________ look forward to making huge fortunes. In Czech: _____________________________________ 2. Once a big company gets into a new market, its _________________________ becomes a famous player in the industry. In Czech: _____________________________________ 3. Many generic drugmakers are successful because they have low prices; to achieve this, they have to keep all _______________________ low. In Czech: _____________________________________ D. Complete the sentences with correct forms of the following verbs; some verbs are not used: (1 point each) BUILD – ANNOUNCE – TOTAL – DO LOOK FOR – SET UP – CONSTRUCT 1. Have you ________________________ the meeting for 10 or 11 o’clock tomorrow? 2. Generic drug sales _______________________ $30 billion last year in Europe and America. 3. It’s clear that companies want __________________ portfolios with diverse investments. E. Complete each sentence with a word made from the word given in brackets. (1 point each) 1. Multicultural teams have to deal with unpleasant __________________________ coming from differences in cultures. (UNDERSTAND) 2. Small but successful Czech companies are often bought by big _____________________ companies that operate throughout the world. (NATION) 3. __________________________ is a key ability for all companies that want to succeed on the market. (COMPETE) 4. Many top executives are __________________________ influenced by the herd instinct. (POWER) 5. The __________________________ that all big companies want to acquire small ones is simply false. (ASSUME) III. Grammar: (max. 30 points) points A. Fill in the gaps with a suitable preposition or adverbial, if necessary: (1 point each) 1. There’s been a dramatic increase ________ the number of mergers. 2. Miramax didn’t turn ________ Disney’s offer – and it was a mistake. 3. Have you been articulate enough ________ your proposed action? 4. Many travelers have recently been ________ South America for their vacation. 5. ________ behalf ________ the department I would like to thank you all. 6. I’m afraid we won’t be able to sort ________ the problems soon. B. Rewrite the sentences so that they mean the same as the sentence above. (3 points each) 1. Temporary staff work in this company. They began to work here 10 years ago. The temporary staff ________________________________________________ 10 years. 2. Coca-Cola earned $100 million here. It was before the year 2004. By 2004 ________________________________________________________________. 3. The finance director plans to go for a business trip. His schedule says that he is supposed to meet his business partner on Monday afternoon. The finance director, who is going for a business trip, ______________________________ ________________________ on Monday afternoon. 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) As you know Alcott and Eves ______________ (be) the major players in the events industry. Well, Bev Andrews, their CEO, ___________________ (call, I) a hour ago. I’m still so surprised as she wants me to join their company. I ___________________ (hear) about their expansion recently. They _________________________ (make) a decision to become number one in their field. The company ______________________ (employ) 20 new people earlier this month since they ________________________ (to be able) to deal with the administration. But I will ___________________________ (refuse, probably) the offer because I ___________________________ (leave) for New York on the 15^th. And I _________________________________ (want, stay) there for three months! D. Choose suitable words or phrases that can complete each sentence. The number of correct answers is 0 – 4. (2 points each) 1. The shares of car manufacturers ____________________ for three months. A: have been risen B: have been rising C: were rising D: are rising 2. We haven’t seen any improvement in the public health care sector _____________. A: yet B: so far C: by now D: just 3. After my arrival to Paris, I _________________ in the Ritz Hotel. A: am staying B: will be staying C: will have stayed D: will stay IV. Translation: (max. 16 points) points Translate the following sentences into English: (8 points each) Pokud se chcete vyhnout negativním pracovním vztahům se svými obchodními partnery, musíte se snažit nalézt, co s nimi máte společného, projevit zájem o to, co říkají, důvěřovat jim a také mít čas osobně se poznat. _________________________________________________________________________ _________________________________________________________________________ _________________________________________________________________________ _________________________________________________________________________ Společnosti rády provozují akvizice a fúze, neboť je to jeden z nejjednoduších způsobů jak si zajistit rychlý růst, diverzifikovat své investiční portfolio a ovládat konkurenci. _________________________________________________________________________ _________________________________________________________________________ _________________________________________________________________________ _________________________________________________________________________