TÀI LIỆU BỔ TRỢ môn TIẾNG ANH CHUYÊN NGÀNH KINH TẾ QUỐC TẾ TRƯỜNG ĐẠI HỌC NGÂN HÀNG THÀNH PHỐ HỒ CHÍ MINH KHOA NGOẠI NGỮ

TRƯỜNG ĐẠI HỌC NGÂN HÀNG THÀNH PHỐ HỒ CHÍ MINH KHOA NGOẠI NGỮ TỦ SÁCH TÀI LIỆU THAM KHẢO TÀI LIỆU BỔ TRỢ môn TIẾNG ANH CHUYÊN NGÀNH KINH TẾ QUỐC TẾ Biên soạn: Phạm Lê Sùng Chính – 2020 (Tài liệu sử dụng nội bộ) BANKING UNIVERSITY – HO CHI MINH CITY FACULTY OF FOREIGN LANGUAGES TÀI LIỆU THAM KHẢO FOR REFERENCE TÀI LIỆU BỔ TRỢ môn TIẾNG ANH CHUYÊN NGÀNH KINH TẾ QUỐC TẾ ENGLISH for INTERNATIONAL ECONOMICS WORKBOOK (Theo định hướng KINH DOANH QUỐC TẾ) (Minor: INTERNATIONAL BUSINESS STUDIES) Compiled by Phạm Lê Sùng Chính – 2020 (Tài liệu sử dụng nội - Internal use ) ACKNOWLEDGEMENTS We would like to thank the following for their precious contribution to the body of professional knowledge and English study, without the citation, quotation, and adaptation of which the book cannot have been compiled: 2018 Quick Response Logistics (Munich, GRIN Verlag), Achilles ©All Rights Reserved, The Balance Small Business, Bugg Marketing Solutions, Cambridge Dictionary, M Christopher et al., Collins Online English Dictionary, CUP, Connect by TMC (a division of C.H Robinson), D Cotton et al., Daily Grammar, davidkigerinfo, The Economic Times, English Grammar, EnglishPractice.com © 2019, © 2020 Entrepreneur Media, Inc., P Emmerson Jr., Inbound Logistics, Investopedia, Intertek, W Keenan,W Kenton, Khoa Ngoại Ngữ Đại Học Ngân Hàng TP HCM, N Kokemuller, M Llamas, Longman, Longman Dictionary of Contemporary English Online, © 2020 Logistics Bureau Pty Ltd SEO, I MacKenzie, Macmillan, Macmillan Dictionary, Macmillan Education, Manufacturing Global (© 2019 BizClik Media Ltd.), A McKeown & R Wright, Merriam-Webster Learner’s Dictionary, P Mishra, C Mutuku, R O’Byrne, Online Marketing Whiz, Oxford College of Procurement and Supply, Oxford Learner’s Dictionaries, OUP, Pearson Longman, A Pilbeam & N O’Driscoll, K Richardson & M Kavanagh & J Sydes, A Shayan, S CHAND & COMPANY LTD., Small Business – Chron.com, ©2019 Thomas Publishing Company, (© 2019 UpCounsel, Inc., GRIN Verlag), Wren & Martin i ABBREVIATIONS (adj.) adjective (adv.) adverb (exp.) expression [C] countable noun CD Cambridge Dictionary CED Collins Online English Dictionary cf see l line LBD Longman Business Dictionary LDCE Longman Dictionary of Contemporary Dictionary Online MD Macmillan Dictionary MWLD Merriam-Webster Learner’s Dictionary OLD Oxford Learner’s Dictionaries p paragraph sb somebody sth something [U] uncountable noun (vi.) intransitive verb (vl.) linking verb (vt.) transitive verb iii INTRODUCTION That Adrian Pilbeam and Nina O’Driscoll’s Logistics Management Market Leader (Longman, 2010) was originally designed for learners whose level of English is higher than the one possessed by Vietnamese students majoring Intenational Economics (with a focus on International Business Studies) at the Banking University HCMC poses a grave question: how to fill in the gap The workbook which is composed of basic vocabulary, usage, reading, writing, and translation exercises serves the purpose to facilitate these EFL students’ learning when they the tasks tailored in the Pilbeam and O’Dricoll’s coursebook Moreover, to express a support to the Banking University HCMC’s objective – to foster students’ active and positive academic role -, the workbook is supplemented with a variety of further basic and advanced exercises similar in format with the ones mostly found in final tests so that the EFL students have an opportunity to improve their two English skills of reading and writing through continual practice and self-study The coursebook is designed in two main parts: Part A: Topical Issues and Part B: Supplementary Exercises Part A: Topical Issues consists of nine modules equivalent to nine units designated in the syllabus of the course Each module comprises two sections: In-class Practice and Further Practice: I In-class Practice: This section includes basic as well as advanced exercises partly or fully simulating the ones that can be found in the test bank of the course so that ESL students feel more confident when they sit final exams after doing these exercises Thanks to the practice of the tasks, the ESL students have a second, or even a third, a fourth, etc opportunity to read a text or to practise using English in order to improve their comprehension, language skills, and better results in final tests II Further Practice: This section is designed with several exercises focusing on some grammatical topics which are evident in each module so that ESL students can improve their reading and writing skills through their incessant practice v Part B: Supplementary Exercises comprises forty texts oriented to logistics and business studies which are compiled in two formats (simulating the ones in the test bank): reading texts as blank-filling exercises and reading texts with questions These exercises assist students in better comprehension of various topics about business studies, in consolidation and extension of the technical terms acquired in Part A, thanks to which ESL students may have an opportunity to achieve better results in their final tests and improve English reading as well as writing skills Nevertheless, the workbook cannot be compiled without shortcomings and mistakes, so the compiler would be grateful to receive precious comments and criticism from distinguished readers vi CONTENTS Part A: TOPICAL ISSUES Module (Unit 2): Using the Supply Chain to Increase Sales Module (Unit 5): Minimising Risks with Suppliers 11 Module (Unit 6): Managing Unexpected Events and Disasters 21 Module (Unit 7): Developments in Global Manufacturing and Sourcing 31 Module (Unit 9): Ethical Sourcing 41 Module (Unit 12): A New Distribution Model 51 Module (Unit 13): Managing Changes in Demand 61 Module (Unit 14): Fast-response Logistics for Retailing 71 Module (Unit 17): Moving beyond Logistics 81 Part B: SUPPLEMENTARY EXERCISES 91 Module 10: Blank-filling Exercises 93 Module 11: Reading Texts with Questions 113 SUGGESTED ANSWERS 131 Suggested Answers – Module 133 Suggested Answers – Module 139 Suggested Answers – Module 143 Suggested Answers – Module 147 vii Suggested Answers – Module 151 Suggested Answers – Module 155 Suggested Answers – Module 159 Suggested Answers – Module 165 Suggested Answers – Module 169 Suggested Answers – Module 10 177 Suggested Answers – Module 11 183 NOTES 189 GLOSSARY 195 REFERENCES 199 viii PART A: TOPICAL ISSUES Part A (including exercises and suggested answers) is, if not noted otherwise, compiled mainly from Adrian Pilbeam & Nina O’Driscoll’s Logistics Management Market Leader (Longman, 2010) Part B (including exercises and suggested answers) is, if not noted otherwise, compiled mainly from FFL’s Bank of Revision Exercises – English for International Economics (Minor: English for International Business Studies) for internal use (FLL-BUH HCMC, 2019) PART B: SUPPLEMENTARY EXERCISES 91 plant, in which the manufacturing process takes place The organizational element of the material-receiving process is important because it significantly affects the efficiency, with which staff can distribute materials Delays in this process can set back production and cost the company money or opportunities Inbound Logistics is an outsourced service, which offers customers the following benefits: identification and reduction of inbound costs; lower inventory levels of both packaging and ingredients; increase of supply chain agility so that new products or promotions can be brought to market faster, etc Questions: What functions does an inbound logistics company perfom? _ What aspects of activities may an inbound logistics company cover? _ What are the advantages of an outsourced service? _ VI EXERCISE Outbound Logistics is the process related to the storage and movement of the final product and the related information flows from the end of the production line to the end user Outbound logistics focuses on distribution Shipping, freight and warehousing are all key functions that fall under this category This also includes communication with recipients and carriers Inbound and outbound systems share some common activities (e.g.transportation, inventory, warehousing, materials handling) Like inbound systems, outbound systems have some activities that are unique in nature The cargo handling services may include cargo collection and consolidation, cargo forwarding, transit warehousing, product completion 117 and inspection, cargo tracing, documentation and import handling, customs clearance, etc Recently, IT developments have forced a change to the overall service provision as customers now demand and receive online cargo tracking and complete transparency of operations through the integration of systems Value in Outbound Logistics is obtained through reducing transit time, eliminating unnecessary or excessive stocks, providing customers with additional benefits Questions: What is the emphasis of outbound logistics? _ List similarities between inbound and outbound logistics _ List activities a cargo handling service may perform _ VII EXERCISE Terminals are critical links in the supply chain, connecting ocean transport and road, require processing rail and services such accessorization before feeder as reaching their activities pre-delivery final Some products inspection and destination Logistics companies can all this and more, helping their customers streamline distribution, handling, processing and storage Customers can take advantage of a wide range of terminal services, which help optimize the movement of cargo through the port to its final destination Depending on the terminal, these services can include customs clearance, pre-delivery inspection, storage, re-forwarding and inland transport Some terminals also have processing centres that offer additional services such as upgrades, repair and accessory installation Communication and information systems within the terminals are linked to the customized information technology solutions This means that logistics companies know the exact location of cargo while at their terminals or on 118 board any of their vessels This knowledge empowers customers with complete control and visibility of their cargo By simplifying and reducing administration and handling costs, logistics companies help customers save time, energy and money Modern companies also focus on customers‟ changing needs and continually provide creative new services to add flexibility, reliability and efficiency to their businesses Questions: Define the term “terminal” _ How can various terminal services help customers? _ What extra services can processing centres at some terminals offer? _ VIII EXERCISE Traditional ways of competing are to offer the end-customer advantages related to product quality, the speed with which it is delivered, and/or the price at which it is offered They are referred as „hard objectives‟ because they are easy to measure and relatively obvious to the end-customer Time measures how long a customer has to wait in order to receive a given product or service Such lead times can vary from zero (the product is immediately available, such as goods on a supermarket shelf) to months or years (such as the construction of a new building) Competing on time is about survival of the fastest! Time can be used to win orders by companies who have learned that some customers not want to wait – and are prepared to pay a premium to get what they want quickly The time advantage is variously described as speed or responsiveness in practice Speeding up supply chain processes may help to improve freshness of the end product, or to reduce the risk of obsolete 119 or over-aged stock in the system Time is an absolute measure, that is, it is not open to interpretation like quality and cost By following a product through a supply chain, we can discover which processes add value and which add time and cost but no value Questions: What are hard objectives of business competition? _ Why can companies exploit the element of time to win orders? _ What are the other names of time advantage? _ IX EXERCISE The early roots of logistics are in international transport, which was a central element of many fundamental models in economic theory In traditional location theory, for example, transport costs were optimised in relation to distance to market and production locations The origins of internationalisation can be traced back to the expanding trade routes of early civilisations Discoveries made in excavations from Europe, Asia, Africa and the Americas reveal artefacts made hundreds or even thousands of miles away from the site, at the edges of their respective known worlds Developments in transport, navigation and communication have progressively expanded horizons Measured in transport time and costs the world has shrunk to the dimensions of a „global village‟ Many take for granted the availability of products from around the world and safe, fast intercontinental travel on container carriers and aircraft It is in this context that a clear link exists between logistics and economic development The connectivity of all regions of the world is essential for international trade As a result, many projects aimed at supporting regional economic development focus on the infrastructure needed to support integration into the global economy Much of the infrastructure to support international trade and business is founded on logistics operations Questions: What is the relation between distance to market from production locations and transport costs? _ What did excavations around the world discover? 120 _ In what aspect can the world be compared to a global village? _ X EXERCISE 10 Logistics is about material flow, and about information flow An early reform for supermarket operation was to have suppliers deliver to a distribution centre rather than to every store During the 1980s, distribution to retail stores was handled by 26 depots These operated on a single-temperature basis, and were small and relatively inefficient Delivery volumes to each store were also relatively low, and it was not economic to deliver to all stores each day Goods that required temperature-controlled environments had to be carried on separate vehicles Each product group had different ordering systems The network of depots simply could not handle the growth in volume and the increasingly high standards of temperature control A new distribution strategy was needed Under the „composite‟ distribution system, many small depots with limited temperature control facilities were replaced by composite distribution centres (called regional distribution centres, RDCs), which can handle many products at several temperature ranges The opportunity is to provide a cost-effective daily delivery service to all stores Each distribution centre (DC) serves a group of between 100 and 140 retail stores Delivery vehicles for composite depots can use insulated trailers divided into chambers by means of movable bulkheads so they can operate at different temperatures Questions: How many distribution systems are discussed in the passage? What are they? _ What may be the nature of logistics? _ What advantage does a composite distribution centre have? _ XI EXERCISE 11 121 There are many potentially conflicting demands on an organisation today All those unreasonable customers seem to want it yesterday, at no cost, and to be compensated if it goes wrong! Within a given supply chain, it is important that each organisation understands how each group of products competes in the marketplace, and that it aligns its capabilities with those of its partners A „product‟ is actually a combination of the physical product and its accompanying service While the physical product is determined by marketing and R&D, service is heavily influenced by logistics It is impossible to be outstanding at everything, and supply chain partners need to give priority to capabilities that give each product group its competitive edge These are the advantages where supply chain partners „dig in deep‟ by giving priority to investment by training and by giving focus on product development and marketing efforts They need only to match industry average performance on other criteria There are various ways in which products compete in the marketplace Perhaps a given product is something that no one else can match in terms of price, or maybe that product is technically superior While new product development has logistics implications, the key advantage provided by logistics is availability of conforming product in the marketplace at low cost Questions: Between a physical product and a service, which receives more impact from logistics? _ How are demands on today‟s organisations? _ When launching a new product, what should a company pay attention to in the light of logistics? _ XII EXERCISE 12 Traditional ways of competing are to offer the end-customer advantages related to product quality, the speed with which it is delivered, and/or the price at which it is offered The most fundamental objective is to carry out all processes across the supply chain so that the end product does what it is supposed to Quality is the most visible aspect of supply chain performance Defects, 122 incorrect quantities and wrong items delivered are symptoms of quality problems in supply chain processes that are all too apparent to the endcustomer Such problems negatively influence that customer‟s loyalty Robust processes are at the heart of supply chain performance Internally, robust processes help to reduce costs by eliminating errors, and help to increase dependability by making processes more certain In many logistics situations, quality of service is about selecting the right quantity of the right product in the right sequence in response to customer orders And increasing requirements for in-store efficiencies mean that categories of product need to be picked in a set sequence to facilitate direct-to-shelf delivery at the store Logistics service providers who can implement and maintain the highest standards of service quality place themselves at an advantage over those who cannot Questions: How did companies compete with one another for their endusers? _ What can deteriorate customer‟s loyalty? _ What should companies to increase their in-store efficiencies? _ XIII EXERCISE 13 In March, 2000, a thunderstorm struck the Philips semiconductor plant at Albuquerque in New Mexico, which made silicon chips for products like cellphones Damage at first seemed minor, and fire fighters soon left the premises At first, Philips told one of their major customers Nokia that the delay to production would only be one week The one-week delay was quickly reported by Tapio Markki, Nokia‟s chief component-purchasing manager, to Pertti Korhonen, Nokia‟s top troubleshooter While Philips initially rejected offers of help from Nokia, it soon became apparent that 123 production delays would be much more than one week Korhonen put together a team to find solutions to supplying the five chips that were affected by the Philips fire Three were quickly resourced from Japanese and American suppliers, but the other two were only supplied by Philips This time Philips cooperated at the highest level Nokia‟s chairman and chief executive, Mr Ollila, met with the Philips CEO Mr Boostra and the head of the Philips semiconductor division, Mr van der Poel Factories at Eindhoven and at Shanghai were rescheduled to supply the missing chips, and engineers from both Nokia and Philips worked to accelerate the return of the Albuquerque plant to full production As a result of these intensive efforts, there were relatively minor delays to Nokia‟s cellphone shipments Questions: What happened to the Philips semiconductor factory at Albuquerque in 2000? _ How was Philips‟ initial assessment of the damage caused by the fire? _ How many types of chips were finally manufactured by Philips? _ XIV EXERCISE 14 Order winners are factors that directly and significantly help products to win orders in the marketplace Customers regard such factors as key reasons for buying that product or service If a firm raises its performance on those factors, it will increase its chances of getting more business Thus a product that competes mainly on price would benefit in the marketplace if productivity improvements enabled further price reductions Order qualifiers are factors that are regarded by the market as an „entry ticket‟ Unless the product or service meets basic performance 124 standards, it will not be taken seriously An example is quality accreditation: a possible supplier to major utilities such as PowerGen in Britain and EDF in France would not be considered seriously without ISO 9000 certification And delivery reliability is a must for newspapers – yesterday‟s news is worthless Note that, in both examples, order qualifiers are order-losing sensitive: loss of ISO 9000 accreditation would make it impossible to supply to major utilities, and late delivery of newspapers would miss the market Increased performance in an order winner increases competitive benefit for the product in proportion Order qualifiers have different characteristics Attainment of a required performance standard, such as ISO 9000 accreditation, gains entry to the market but no more than that Questions: Define order winners _ What should a company in order to develop its opportunities to gain more business? _ How are order qualifiers valued? _ XV EXERCISE 15 Of the many technological advances in recent years, the explosion in applications of Internet technology is having the most sweeping effects Firstly, exchanges are helping to reduce cycle times and to remove errors and duplication Suppliers benefit mostly from reduced transaction costs, enhanced marketing presence and reduced errors However, buyers are expected to reap greater benefits – particularly in the areas of procurement and of supply chain management Secondly, exchanges are increasing the level of trust between buyers and suppliers, which is key to good trading relationships Rather than leading to an increase in the number of suppliers used by buyers, ehubs are encouraging the continued trend of supplier rationalisation – resulting in longer-term relationships with remaining suppliers The increased ability to share information between buyers and suppliers made 125 possible by the use of e-hubs will result in increased joint problem solving This will accelerate the trend of supplier-led innovation and increased outsourcing to suppliers Finally, exchanges are contributing to the trend of reducing the number of manufacturers and suppliers in most sectors Exchanges encourage the use of open book accounting, and reduce the traditional mark-ups associated with multi-tier supply chains They support the trend of tier suppliers acting as service providers and directing a network of subsuppliers Questions: What is the most influential technical advance in logistics? _ What is the importance of the trust between buyers and suppliers? _ What is the benefit of sharing information between buyers and suppliers? _ XVI EXERCISE 16 Logistics costs can be better described by using a variety of methods of allocating costs to products The purpose of such a variety of allocations is to gain better information about the cost base of logistics operations, and hence to take better decisions For example, direct product profitability (DPP) attempts to allocate logistics costs more specifically to products by considering how they use fixed resources Another principle is to convert discretionary costs such as product availability into engineering costs such as profit contribution from increased sales Activity-based costing (ABC) seeks to understand what stakeholders drive costs, and how costs are incurred by logistics processes that span the organisation – and the supply chain in general It is 126 essentially a process-based view of costing, and again seeks to enhance the quality of logistics decision making Financial measures that are rooted in the past are insufficient for taking logistics decisions in today‟s fast-moving environment A balanced measurement portfolio is called for, one that takes into account the needs of different stakeholders in a business A balanced measurement portfolio is extended into the supply chain by means of the supply chain operations reference model (SCOR) Questions: Why companies use many different ways to allocate costs to products? _ What is the purpose of ABC? _ What measure may a logistics company take nowadays in the global market with many sudden changes? _ XVII EXERCISE 17 Retailers need to be particularly agile in their approach in order to satisfy unknown demands of customers in seasonal and promotional events Boots The Chemists (BTC) – the leading UK health and beauty retailer – approaches the problem by creating a dedicated promotions team The team mastermind the overall promotional plan and are made responsible for the delivery of products, display aids and show materials into the national distribution centres (NDCs) Most of the work required to mount the promotion is done by logistics staff in the regional distribution centres (RDCs) for each of the individual stores These staff send allocations of all the promotional requirements to the RDCs from the NDCs Staff in the RDCs then pick products for a week‟s anticipated sales (based on historical data for that line by individual store) into totes for 127 direct-to-shelf delivery together with appropriate display aids and show material The totes were then placed on dollies, rolled on and off vehicles, and wheeled into the shop to the correct gondola end After three days, EPOS data was reviewed, and an accurate prediction of future sales to the end of the promotion was made This was then used to calculate future replenishment requirements Questions: Why should retailers be flexible? _ What did BTC to maintain their agility? _ How long does it take before BTC can review EPOS data? _ XVIII EXERCISE 18 Most supply chains that involve physical products end with service processes such as retailing (grocery or apparel), healthcare (pharmaceutical and other medical goods) and distribution (motor cars) Service processes mean that the customer is present in some way, although distribution through web-based shopping, telephone and mail order mean that customers not have to be physically present Performance of service processes often differs between employees, between customers and from one hour to the next If you want good service from the local supermarket, not go on Saturdays or near to Christmas when the service is under severe capacity pressure: on-shelf availability is at its lowest, and queues at the checkout are at their longest The key point is that „service is the combination of outcomes and experiences delivered to and received by the customer‟ Quality of service takes place during service delivery, which is the interaction between the customer (B2B or B2C) and the service process „Gaps‟ can emerge between what the service is supposed to be, what the customer expects it to be, and how the customer perceives it when it is delivered Questions: 128 Why most physical-product-involving supply chains end with service processes? _ On what day of the week may a customer experience poor service from a supermarket? _ What should be the best understanding of service if we want to increase performance of service processes? _ XIX EXERCISE 19 Sales organisations have identified two significant types of buying behaviour by their retail customers: volume driven and value driven Volumedriven behaviour is driven by the retailers who want to offer low prices to endcustomers in order to drive high volumes The everyday low price variant of this behaviour places pressure on supply partners for continuous price reduction In turn, this generates a relatively stable demand pattern for the supply chain – unlike a retailer who regularly promotes the same product by means of special offers Margin-driven behaviour is driven by offering a wide selection of products and value adding services Cost savings were not necessarily passed on to the cusomer but could be used to invest in additional value adding activities This strategy also resulted in a relatively stable demand pattern Other behaviours by retailers are also possible – such as discounting and promotion But the key point is that the different behaviours must be characterized and specified in terms of their logistics implications Discussing the characteristics of customer behaviour within a crossfunctional group in a workshop setting helps to spawn ideas on patterns Questions: How many major types of buying behaviours are there? What are they? _ Define volume-driven behaviour _ 129 Why should we study the characteristics of customer behaviour? _ XX EXERCISE 20 In reality, management today is faced with the challenge of performing across a whole range of objectives Different groups of stakeholders in a firm include shareholders, employees, customers, suppliers, etc The challenge for the directors of a firm is to balance the diverse interests of these groups of stakeholders Shareholders typically have a passing interest in a firm in which they invest Shareholders are impressed by high dividends and share appreciation resulting from profitability and growth of the business Failure to deliver adequate returns often turns shareholders against the management of the day Employees often have a long-term commitment to a firm, and are concerned with employment stability, competitive wages and job satisfaction Failure to deliver on such goals may create negative reactions such as loss of motivation and loyalty, difficulty in recruitment, etc Customers are in theory the most important stakeholders in a free market economy It is their demand that draws material through the supply network Customers can choose from whom they buy, and failure to keep them satisfied creates the risk of loss of business Suppliers are interested in such benefits as long-term business, involvement in new product development, and payment on time Failure to meet such benefits leads to sanctions such as disruption of supply and higher prices Questions: What challenge does today‟s management deal with? _ What is the challenge that the directors of a company are faced with? _ What may make employees unhappy about their company? 130 _ 131 ...BANKING UNIVERSITY – HO CHI MINH CITY FACULTY OF FOREIGN LANGUAGES TÀI LIỆU THAM KHẢO FOR REFERENCE TÀI LIỆU BỔ TRỢ môn TIẾNG ANH CHUYÊN NGÀNH KINH TẾ QUỐC TẾ ENGLISH for INTERNATIONAL ECONOMICS... INTERNATIONAL ECONOMICS WORKBOOK (Theo định hướng KINH DOANH QUỐC TẾ) (Minor: INTERNATIONAL BUSINESS STUDIES) Compiled by Phạm Lê Sùng Chính – 2020 (Tài liệu sử dụng nội - Internal use ) ACKNOWLEDGEMENTS... Inc., P Emmerson Jr., Inbound Logistics, Investopedia, Intertek, W Keenan,W Kenton, Khoa Ngoại Ngữ Đại Học Ngân Hàng TP HCM, N Kokemuller, M Llamas, Longman, Longman Dictionary of Contemporary English