Listening practice You’re going to hear four people talking about different business challenges.. Exercise 3: Listen again and choose the correct option to complete each sentence.. Liste
LISTENING 1
Exercise 1: Match the definitions (A-H) with the words/phrases (1-8)
1 make an assumption A to feel uncomfortable
2 get on the same page B to believe something is true without having proof
3 commit C people who are not in the same physical place
4 do overtime D to agree on how something should be done
5 feel awkward E a difficult period of time
6 charter F to promise that you will do something
7 a virtual team G to do more working hours than is agreed in contract
8 a rough patch H a formal statement of the rights of an organization or a particular social group
You’re going to hear four people talking about different business challenges
Exercise 2: Listen and choose the best inference made from each speaker
A They had expected different levels of formality when they first met
B The new contact was offended by Speaker A's use of his surname and handshake
A Working with a virtual team across different time zones and cultures required adjustments
B The use of English as the project language led to misunderstandings and communication breakdowns
A Speaker C tried to apply the S.M.A.R.T approach to his personal life
B Practicing the S.M.A.R.T method helped Speaker C overcome workplace overload
A Speaker D's quick thinking secured her a seat on the only available flight the next morning
B The other passengers were upset with Speaker D for rushing to the desk and leaving everyone else stranded
Exercise 3: Listen again and decide if these statements are true or false
1 Speaker A wanted to show respect by shaking somebody’s hand
2 Speaker A recommends always greeting people in the same way, no matter where you are
3 For Speaker B, working in a virtual team is not so different from working in the same location
4 Creating a team charter helped Speaker B’s team to avoid misunderstandings and confusion
5 Speaker C says the SMART acronym for goal setting stands for: Specific, Measurable, Achievable, Relevant, and Timely
6 If you are feeling stressed, Speaker C recommends just dropping the tasks that are overloading you
7 According to Speaker D flights at the end of each day have a higher chance of being delayed
8 Speaker D suggests taking your time if your flight is cancelled since the airline will have to rebook you on another flight anyway
Exercise 4: Listen again and choose the best option to answer each question
1 How did Speaker A feel during the meeting?
C unsure about what to do
2 How has Speaker A responded to this experience?
A He has decided to copy the other man’s way of greeting people
B He has reflected on it and realized something
C He has researched different ways of greeting people
3 How did Speaker B feel about the international project?
A It was an entirely negative experience
B It was exhausting, but there were positives too
C It was challenging, but there were positives too
4 How did Speaker B feel now about working on international projects?
A She would like to do it again in the future
B She wouldn’t like to do it again
C She isn’t sure whether it would be a positive or negative experience
5 How did Speaker C feel during his difficult time at work?
6 How does Speaker C feel now?
7 What did Speaker D do when the flight was cancelled?
A She took time to consider her options
C She asked for someone’s advice
8 How does Speaker D feel about what happened?
LISTENING 2
Exercise 1: Match the definitions (A-F) with the words/phrases (1-6)
1 collaborate A a benefit that a product or service provides for customers
2 value proposition B a product that is promised to be ready for a customer
C someone interested in the success or failure of a project or a product
4 deliverable D to work with others to achieve something
6 stakeholder F to work with people from different departments
You’re going to hear a project management meeting
Exercise 2: Listen to the following excerpts from the meeting Choose the best inference for each one
A Akiko agrees with John that the project is important and is positive about the collaboration
B Akiko raises concerns about the project's requirement of working cross-functionally
A Matteo expresses strong opposition to the project due to their heavy workload
B Everyone is committed to moving forward with the project and clarifying roles and responsibilities
A John doesn’t accept the task owing to his hectic schedule with his line manager
B The task is assigned to Akiko because of her specific knowledge of designing the customer survey
A Matteo faces conflicting priorities and workload with his regular job, so he seeks solutions from John
B John ignores Matteo's concerns and insists he complete the designs despite his workload
Exercise 3: Listen again and choose the correct option to complete each sentence
1 The project is important because
A it will improve what the company is offering the customer
B it involves working with people from other departments
C the head office is closely following its progress
B taking on work that they have little experience of
C not having time to work on the project
3 Akiko is the best person to do the customer survey questionnaire because
A she normally handles the company’s marketing initiatives
B she has worked with John on similar tasks
C she has studied the subject
5 John’s immediate response to Barbara’s offer to help Matteo is
6 It’s important that Matteo does the designs because
A a client has asked specifically for him
B no one else knows how to do them
C he has the software to do them at home
Note-taking skill: Organizing notes in chronological order using a timeline For lectures following chronological, or time, order like an autobiography, think about the words you might hear the speaker has used to indicate time order, such as: at first later then before soon while after that on Monday in the beginning during that time in 2023 first, second, last
A good note-taking tool that will present information chronologically is a vertical or horizontal timeline As you are listening, write dates or time phrases on one side of the timeline On the other side, write corresponding key events and details.
NOTE-TAKING SKILL
Exercise 1: Complete the words with the definitions provided
1 e_clu_iv_ly emphasizing that something is limited to a specific group
2 ev_nt_ally at the end of a process or a period of time
3 in_eg_ate to combine two or more things to become more effective
4 s_del_n_ an activity to earn extra money besides your main job
5 _eli_nt dependent on someone or something
You are going to hear an interview in which Bruno Guattari talks about how he started his company, Comptoir Atlantique
Exercise 2: Listen and use the timeline below to take notes on the company’s history
Exercise 3: Listen again and answer the following questions
1 How did Bruno’s professional background help the development of his start-up?
2 What was Comptoir Atlantique’s original main activity?
3 What support did Bruno receive from his family?
4 Where was the company first run from?
5 How did he go about financing his venture?
6 What problems did Bruno have during the first years of business?
7 How has the company evolved in recent times?
8 What are his plans for the future?
VIDEO
Watch the video Why Starbucks failed in Australia and answer the following questions
1 Take notes on the timeline of Starbucks’s business in Australia
2 Why was 2008 a difficult time for businesses?
3 What can be inferred about coffee culture in Australia?
• worked for his family business
4 Based on Gloria Jeans’ case, what should Starbucks bring to its menu?
5 Which groups are the current target customers of Starbucks?
Listening skill: Listening for examples
Speakers often provide examples, so the listeners can understand key ideas better Active listeners can use different strategies to notice examples:
• Listen for phrases that introduce examples: for example, take for instance, for instance, as an example, let me give you an example, including, and such as
• Notice rising intonation that signals items in a list
• Take notes in a T-chart outline and write the main point on the left and examples on the right
Exercise 1: Match the definitions (A-H) with the words/phrases (1-8)
1 cautious A reasonable, practical, and showing good judgment
2 bold B not afraid of taking risks and making difficult decisions
3 reckless C unwilling to take risks, especially in business
4 foolhardy D sensible and careful; avoiding unnecessary risks
6 risk-averse F careful to avoid danger or risks
7 rash G not thinking about the possible bad effects of your actions
8 sensible H acting too quickly, not considering the effects of your actions
You’re going to hear three different people discussing risks
Exercise 2: Listen and choose the correct option to complete each question/sentence
1 What might be the Speaker 1’s job?
2 What is an example of his reckless characteristic?
C Signing multi-million dollar contracts
3 What did he do to illustrate his pros-and-cons consideration?
B Established a pricing policy in a prudent manner
4 Who is most likely Speaker 2?
5 What decisions is she capable of making?
6 How is the risk of wasting time exemplified by Speaker 2?
A One might lose additional sources of income
B Business opportunities are not successfully pursued
C Potential customers demand greater attention
7 Who is most likely Speaker 3?
8 What does he do when a potential problem arises?
A Makes a judgement about the extent of loss
B Investigates the cause of loss
9 The CEO’s questioning response is mentioned as an instance of
Exercise 1: Complete the sentences below with the words in the box bonds bull run assets equities volatility liquidity
1 Market illustrates the frequency and magnitude of price movements of a stock, up or down
2 The group’s total _ are valued at €1 billion, including cash, properties, and shares
3 Government are usually considered to be a safe investment as they will pay back the money an investor has lent, plus a fixed amount of interest
4 Many investors are switching from bonds to since they are likely to benefit greatly the company’s profits, rather than a fixed regular payment
5 A company's high indicates its ability to pay off short-term debts without having to raise external capital or take out loans
6 We’ve recently seen a long when prices rise on the financial market with record low interest
You’re going to hear three people giving advice about investments
Exercise 2: Listen and match the speakers (1–3) with the topics (A–C)
1 Piet Muhren A avoiding common financial errors
2 Irene Montoya B spreading your money across different assets
3 Leo McKinney C having enough cash in case of emergencies
Exercise 3: Listen to Piet again and answer these questions
1 Does Piet think investors can predict which asset types or sectors will perform best?
2 What are some examples of assets he includes in a diversified investment portfolio?
3 What has happened to the bond market in recent years?
4 How does Piet illustrate the “extra costs” involved in diversification?
Exercise 4: Listen to Irene again and complete the notes Write NO MORE THAN TWO WORDS AND/OR A NUMBER for each gap
• Investors are not bound to sell when prices are 1
• 2 are likely to be avoided
2 Cash savings: put aside for 3 _ such as repaying debts and selling investments
3 In case of 4 _, your savings are eroded
E.g in a 25-year period, savings of 10,000 euros will end up with a purchasing power of 5 euros
Exercise 5: Listen to Leo again and decide if these statements are true or false
1 Putting money in low-interest accounts carries the risk of inflation
2 The second error is being overconfident and focusing on high-risk investments
3 Leo plans to have a varied investment portfolio, based on his current salary
4 The third error when managing your money is being bad at arithmetic
5 We regard money in relation to where it comes from and how we want to invest it or spend it
6 Spending ‘house money’ involves spending money on household items, instead of gambling or investing it unwisely
7 One tip is to calculate how much you spend daily on unnecessary items and what each costs per month
Note-taking skill: Organizing notes in a Venn diagram
A Venn diagram provides a visual representation of the relationships of items, which are similarities and differences, or classifies them according to specific criteria
A Venn diagram consists of at least two overlapping circles Inside the overlapping areas are where common elements or similarities between items are listed
An example of a Venn diagram is given in the practice exercise below
Exercise 1: Match the definitions (A-F) with the words/phrases (1-6)
1 operational A an official agreement that finishes an argument
2 settlement B the effects and results of something bad or important
3 aftermath C causing a lot of damage or making people suffer
4 go/run aground D working and ready to be used
5 catastrophic E a brief court session that resolves a specific question
6 court hearing F the situation when a ship becomes stuck in a place
Exercise 2: Complete the sentences below with the correct form of the words in Exercise 1
1 The oil tanker on a mud bank in thick fog due to inaccurate navigation
2 Despite the cyberattack, the company's recovery plan ensured uninterrupted continuity
3 The company successfully dealt with the complex of the merger, emerging with a leaner structure
4 The tense drew media attention as investors awaited the verdict on the patent infringement lawsuit
5 A product failure led to a recall and plunged the company into financial turmoil
6 Following months of debate, the CEOs finally reached an amicable , safeguarding future business partnerships
You are going to hear a talk given by David Du Cane, a business journalist, about businesses’ increased responsibility
Exercise 3: Listen and use the T-chart to take notes on the main points of the talk about the disasters caused by business operations
Union Carbide’s gas leak Exxon Valdez’s oil leak
Exercise 4: Use this Venn diagram to organize your notes
Watch the video How rest can make you better at your job and answer the following questions
1 In the beginning, why does the speaker say ‘long hours are inevitable and inescapable’ in the modern world?
2 How does the speaker exemplify the point of work-life balance in the past?
3 What example does the speaker use to illustrate ‘rest is a skill’?
4 What is the comparison between rest and work for athletes and creative people?
5 What example does he use to explain the third point ‘tap into deep play’?
Listening skill: Recognizing appositives that explain
An appositive is a phrase that gives additional information in a sentence: a definition or explanation of the word or idea just before Scientific or specialized terms are commonly defined by appositives with or, that is, in other words, for instance, etc
In writing, appositives are marked by commas In speaking, appositives are set off by short pauses
E.g We’ve recently seen a long bull run, when prices rise on the financial market, which may probably benefit our investment income
Exercise 1: Complete the sentences below with the words in the box rival manoeuvre prohibitively exert probability preoccupation
1 In a competitive industry, businesses need to differentiate themselves to maintain profitability and market share
2 The Product Development Department calculated the success of various market scenarios of the new product launch
3 Successful leaders understand when and how to power and influence sensibly to drive positive outcomes for their organizations
4 Balancing work and personal life is a common for entrepreneurs who strive to achieve success
5 Building strong relationships with clients grants us room for when negotiating deals
6 The pressure from products squeezed our profit margins, hence the need for cost-cutting measures
You’re going to hear Robert Njiki, a professor of business studies, talking about how companies can analyze their competitive position in a market
Exercise 2: Listen and complete the diagram with the terms he mentions
Exercise 3: Listen to the second part of the talk, write down 4 barriers businesses can build to prevent competition, and match the appositives with the specialized terms they explain
A making it highly expensive for your customers to migrate to a competitor
B getting a cost advantage over your competition
C establishing a distinct and memorable brand image
D developing an efficient network for delivering your products or services
Exercise 1: Match the definitions (A-G) with the words/phrases (1-7)
2 backers B a sudden strong desire to do something
3 repertory house C wealthy people who invest money in new businesses
4 angels D people who plan the movements dancers make
5 choreographers E people who give financial support to something
6 flutter F to separate figures into different parts
7 break down G a theatre where one company of actors performs several different plays
You’re going to hear Philip Franks, an actor and theatre director, talking about the theatre business in Britain
Exercise 2: Listen and choose the correct answer for each question
1 In what way is the theatre business different from other types of commercial activity?
A It needn’t be a product that people want
B It’s not subject to the same criteria for success
2 What is mentioned as a good way of guaranteeing commercial success?
A having a well-known actor or actress in the cast
3 How can you reduce the risks involved in putting on a new play?
A by choosing the theatre carefully
B by restricting the length and size of the production
C by keeping actors’ salaries low
4 According to Philip, what are ‘running props’?
A the length of time the play runs
B things which must be replaced with each performance
C the costs of lighting and heating the theatre
5 What is the main danger of firing actors you’ve hired?
A They may take you to court
B The cast may go on strike
C They may refuse to work with you in the future
6 How might ‘angels’ help finance a production?
A by providing a theatre which belongs to them
B by guaranteeing a loan from a merchant bank
C by putting their own money into the production
7 Why is theatre production so risky?
A The majority of productions are unsuccessful
B It takes a long time for a play to break even
C It is almost impossible to keep a production within budget
Exercise 3: Listen again and match the appositives with the specialized terms they explain
1 the business side of theatre
6 running costs of the building
7 the legal risk of change in the cast
A the chance that fired actors can ask the union to help them file a lawsuit
B somebody with a high film or television profile
C costs to hire or purchase things that are on the set
D a video screen, or a revolving stage or rooms with three walls
E wages for directors, designers, choreographers or actors
F costs to build sets and transport them into wherever you go in a commercial project
G something which has to produce a product that people want and are prepared to pay for
H things that are consumed such as cigarettes, food, or plates
Note-taking skill: Using prior knowledge to prepare and organize notes
Good listeners use their prior knowledge of a topic to make predictions about what a speaker might say about it Before listening to a lecture, think about everything you know about the topic Try these strategies:
• Read any materials an instructor has assigned before the lecture
• Talk with classmates about the topic, so you share details you already know
• Think about the title of the lecture or presentation
• Write some keywords related to the topic in a graphic organizer for note-taking
• Write a few questions you have about the topic, leave room for notes if your teacher answers them
Exercise 1: Match the words in column A with those in column B to form word partnerships
Exercise 2: Complete the sentences below with the correct word partnerships in Exercise 1
1 The project’s success relied heavily on ; the whole team was then rewarded accordingly
2 Much of the success of a banking partnership resulted in the between the two firms
3 Effective contributes to bridge the gap between departments and boost morale
4 We are seeking candidates with a to thrive in our fast-paced environment
5 Reducing is a worthy business goal that common language helps achieve
6 The book offers a step-by-step process which outlines how to use to improve corporate performance
7 In an ideal world, the who put together a failed deal like AT&T buying Time Warner would lose their jobs
8 In the making of monetary policy, economists have but politicians claim electoral legitimacy
You are going to hear an international group of project team leaders talking about what they have learned about how teams work
Exercise 3: Do some research if necessary and discuss with a partner the following keywords to activate your prior knowledge about teamwork
Exercise 4: Listen and complete the spidergrams below regarding the things the team leaders mention
Watch the video What gives a dollar bill its value? and answer the following questions
1 Which of the following best defines ‘fiat money’?
A Money backed by gold or silver reserves
B Money determined by government policy rather than external resource
C Money designated as official by the US president
2 Which of the following best defines ‘inflation’?
A A stability of prices of goods and services, thus the same in the value of money
B A fall in prices of goods and services, thus a rise in the value of money
C A rise in prices of goods and services, thus a fall in the value of money
3 Which of the following would lead to ‘deflation’?
A A stability of the supply of money and production of goods and services
B A fall in the supply of money and a rise in production of goods and services
C A rise in the supply of money and a fall in production of goods and services
4 Which of the following best explains ‘the story of Goldilocks’?
A Be balanced between extremes of volatility
B Never intrude on someone else's property
C Be sensitive to the economic changes
Listening skill: Listening for facts and figures
In any presentation that relies on statistical facts and figures, it is important to write down important trends and specific data that the speaker emphasizes When you hear a fact or number that you think is important, write it down with some keywords These phrases introduce facts and figures:
Exercise 1: Match the definitions (A-H) with the words/phrases (1-8)
1 go through the roof A the amount of business done
2 driving force B a standard used for comparison
3 jump on the bandwagon C to rise to a very high level
4 turnover D to make neither profit nor loss
5 reach the breakeven point E to start doing something popular that a lot of people are already doing
6 brand awareness F the extent to which consumers recognize a particular product or service
7 yardstick G an event with a strong influence and that causes a big change
8 sell-off H the sale of a lot of stocks or shares, which makes the price decrease
You’re going to hear a television report about the share prices of Internet companies
Exercise 2: Listen and answer these questions
1 What is the overall turnover recorded for Amazon.com?
2 How many page hits a day and advertisers does Yahoo have?
3 How much did Lycos’s shares grow?
4 How well did Lycos perform as a search engine?
5 What happened between Bertelsmann and Barnes & Noble?
Exercise 3: Listen again and choose the correct option to complete each question/ sentence
1 What raised the Internet share price?
A the guarantee of a quick profit
B the lack of availability of the shares
C the possibility of a safe investment
2 What state of profitability are most Internet companies in?
A They now earn substantial profits
B They just manage to break even
3 Investors are lured to these companies since
A they are expected to turn huge profits
B they are well-established brands
C they are very fashionable at the moment
4 In order to value these companies, analysts compare
A the value of their assets
5 The recent fall in share prices was the result of
6 The share prices fluctuate greatly because
A there is fast-paced share trading
B the whole Internet sector is still very new
C many companies seem unknown to the market
7 Katie predicts that share prices will
8 As the market develops, Katie expects several Internet companies will
A expand through calling for investment
B find ways to enter lucrative US markets
C be acquired by large established corporations
Exercise 1: Choose the option that has the closest meaning to the underlined words/ phrases
1 This quarter’s seminar was better than the usual run-of-the-mill sales presentation
2 Measures are needed to prevent fraudsters from opening bank accounts with stolen cheques
3 There are some general atypical customer behaviors to look out for, which might indicate financial crimes
4 The deal will give that newly established company a foothold in the competitive Asian market
5 The two corporations were compared in terms of valuation, expected growth, and volatility of share prices
6 The revised governmental policies encouraged investors to hedge against a fall in the dollar
7 Despite technological solutions, cybercriminals still are able to swindle users by exploiting people’s gullibility and greed
8 Former State's attorney was found guilty of two counts of perjury by a federal jury
You’re going to hear Jackie Coleman, a specialist in corporate crime, talking about the Bernard Madoff affair
Exercise 2: Listen and match the numbers with the information they represent
1 $50 bn A Madoff Securities was founded
3 12% C the number of lawsuits against Bernard Madoff
4 2005 D the biggest investment fraud in the US
6 11 F the number of charges against Bernard Madoff
Exercise 3: Listen again and answer the following questions
1 How significant is the Madoff fraud compared to other scams?
2 What trading innovations were introduced by Bernard Madoff's company?
3 What new business activity did Bernard Madoff start in addition to stock trading? What services did it offer?
4 Why did investors consider Bernard Madoff to be so trustworthy? Give examples of three crimes that Bernard Madoff committed
5 Is the story over even with Madoff's guilty plea?
Note-taking skill: Using a T-chart to take notes on problems and solution Recognizing organizational patterns of ideas such as problems and solutions facilitates your understanding of information during the listening process In a lecture or a talk, however, the information may be given out of order, so it seems more effective to use a T-chart to take notes Particularly, if you jot down problems in one column and solutions in the other, this allows you to reorder them later when you revise your notes
Here are some key phrases to listen for:
• The main trouble is that…
• Another obstacle we face is…
• This can be handled by…
• We’ve figured out that…
• How about the approach in which…
Exercise 1: Complete the sentences below with the words in the box patents high-end projections overstretched bottom line redundancy underperformed
1 The drop in sales had a big impact on our , that is the profit that our business makes
2 The company filed a on a genetically engineered tomato that remains firm longer than untreated tomatoes
3 Some of the operation staff were offered a £3,000 cash bonus to take voluntary
4 As national economies seek to recover from the COVID-19 pandemic, government resources are trying to meet the many needs of their populations
5 A growing number of Chinese semiconductor design companies are tapping Malaysian firms to assemble a portion of their chips
6 Shares of plentiful automobile corporations were under pressure on the South Korean KOSPI exchange overnight as sales for underwhelmed investors
7 Apple's stock top tech peers in 2023 as it has reported four straight quarters of sliding sales, its longest stretch of declines since 2001
You are going to hear a business meeting at a footwear company
Exercise 2: Listen and match the speakers (1-6) to their roles (A-F)
Exercise 3: Listen to the attendees in a business meeting discussing a financial loss and a new product Use the T-chart below to take notes on the problems and solutions
Exercise 4: Use the notes you have taken to decide whether the statements are true or false
1 Henry stated the loss was down to state of the economy
2 Rachel mentioned poor sales in Eastern Europe
3 Katrin expressed doubts about the ability to cut costs
4 Henry denied there would be redundancies
5 Alex said a unit costs €35-45, and Marta expects the product will retail at €100-130
6 Henry questioned if the project sales would be achievable
7 Marta estimated shoes would last 50% longer, so the main market would be rich homes
8 Alex said some parts of the manufacturing process are patented
Watch the video What causes an economic recession? and answer the following questions
1 Which of the following may directly cause a recession?
B central bank lowering interest rates
D central banks increasing money supply by 1%
2 If interest rates are high, companies will
3 What is NOT a possible cause of an economic recession?
Listening skill: Recognizing organizational cues Organizational cues are functional language intended to signal the type of information that follows As you listen to these cues, you can predict what will be said next
Organizational cues Signals Examples most importantly, actually, in fact, what will be the main focus is, I want to emphasize importance, emphasis
What will be the main focus is how human brains work for example, for instance, specifically, particularly, such as, in illustrations, that is examples, illustrations
Governments are searching for ways to improve the inner city For instance, now let’s turn to, moving on, let’s now consider, concerning shifting topics Now let’s consider the statistical evidence in short, to sum up, all things considered, in the end conclusions In short, residents in my district are against this proposal
Exercise 1: Choose the correct answer to complete each sentence
1 Offering enables the bank to invest in superior customer service
A premium rates B potential demands C resource restrictions
2 Investors were hesitant to take on additional risks due to high and uncertain returns
A turnover rates B financial perks C initial costs
3 revealed that all product lines consistently brought about satisfactory financial results
A Research findings B Academic publications C Entertainment magazines
4 This comprehensive survey on consumer taste was by local stores
5 Air travel offers the flexibility to meet , with guaranteed deliveries and cost-saving options
A fringe benefits B business customers C definite needs
Exercise 2: Look at these stages (1-7) in a typical presentation Write the correct phrase (A-G) in each box
B Give the main part of your talk
C Greet the audience and thank them for coming
E Introduce yourself (and your colleagues)
F Outline what you are going to say in your talk and suggest people leave their questions to the end
G Summarise the main points you have made
You are going to hear Peter Furlong giving a presentation of his business ideas
Exercise 3: Listen to the presentation and match these extracts (A-K) with the stages (1-7) in Exercise 2
A And I think that just about covers the market research so now let’s deal with the third part of my presentation, which is to explain our financial requirements and plans …
B Good morning and welcome to the Adelphi Hotel
C In my presentation, I’m hoping to do three things First, I’ll … then I’ll tell you … and finally I’ll …
D Now to move on to my second point: market research …
E If you have any questions you’d like to ask, please leave them to the end, when I’ll be very happy to answer them
F Now, if I can just summarise the main points again, they are these: first, …
G So, finally, I’d like to finish off by saying that it’s been a pleasure talking to you all and thank you for your patience and interest in listening to me If you have any questions, please feel free to ask them now
H So, let me introduce myself: my name’s … and this is my partner, …
I Let’s start with my first point – our main business idea …
J Thank you all very much for coming; some of you have travelled a long way to hear us today …
K The purpose of this presentation is to explain our business plans to you…
Exercise 4: Listen again and complete the notes below Write NO MORE THAN TWO WORDS AND/OR A NUMBER for each gap
Will provide information for 2 _ and other travellers
Information on time, 3 _, parking and public transport
Will be placed at 4 _ accesses to the city
Income from 5 _ space for advertisements
Interviewed more than 6 _ motorists and other travellers
Advertisers will pay 7 _ for space on panels
Exercise 1: Match the definitions (A-F) with the words/phrases (1-6)
1 shrewd A main or most important
2 compromise B the news reporting of an important event or subject
3 exploit C to risk harming or losing something important
4 coverage D good at judging what people or situations are really like
5 make sacrifices E to give up something valuable to you to help another person
6 prime F to treat somebody unfairly by making them work and not giving them much in return
You will hear the group marketing director, Fedor Brodsky, from Ascendor, a large multinational company, giving a presentation on ‘How to protect your brand’s reputation’
Exercise 2: Listen and complete the notes below Write NO MORE THAN THREE WORDS AND/OR A NUMBER for each gap
Brand’s reputation built by 1 _ and destroyed by 2 _
Brands must be protected by
● strict quality control, where quality not affected by 4 _
● ethical corporate behaviour, e.g by not 5 _, not outsourcing to companies which 6 _, ignore safety rules, etc
Best achieved in companies which are 7 _, i.e the health of brand the
Exercise 3: Listen again and decide whether these statements are true or false
3 says how many points he is going to make
4 illustrates all his points with an example
5 says which point he is making before making it
6 gives reasons for everything he says
Exercise 4: Listen again and write down the phrases which have a similar meaning to these phrases
1 The subject of my talk today is
2 I’d like to start off by saying that
3 I’d like to make three main points
4 The first one is that
6 My third and final point is
Note-taking skill: Organizing notes into a formal outline Use an outline to organize information and relationships between points The key advantage is that when you review your notes, the main ideas and supporting details are presented neatly and clearly
A formal outline identifies the topics in Roman numerals (I., II.), the key points under each topic in capital letters (A., B.), examples in regular numbers (1., 2.), and further explanations in small letters (a., b.)
Here are some key phrases to draw up an outline:
• Now I’m going to discuss two theories, X and Y
• Several studies concentrating on X were done by…
• One of his vital ideas was that…
Exercise 1: Match the definitions (A-F) with the words (1-6)
1 masquerade A to violate or break a law
2 freeload B to attack verbally, especially with questions
3 deface C to illegally copy and sell another person’s work
4 infringe D to live off somebody’s generosity
5 bombard E to pretend to be something or someone different
6 pirate F to spoil the appearance of something especially by drawing or writing on it
Exercise 2: Complete the paragraph below with the words in the box peruse monitor penetrators abuse litigate
When they locate areas of brand risks, damage and 1 _, Brand Intelligence track
2 _, initiate reversal and then 3 _ progress When necessary, they will issue ‘cease and desist’ orders, and in the worst cases, 4 _ for damages or
Task A: You are going to hear an interview with Li Bai, an expert on risk management
Exercise 3: Listen to the interview Underline the perspectives below which are explicitly mentioned economic cultural political financial business global individual banking ethical human psychological historical managerial philosophical environmental
Exercise 4: Listen again and use the outline below to take notes on risk management
Task B: You are going to hear another interview with Steve Leach, Managing Director of Brand Intelligence
Exercise 5: Listen and use the outline below to take notes on digital risks
Watch the video How do investors choose stocks? and complete the formal outline below Use the organizational cues to help you identify the missing words
Write NO MORE THAN THREE WORDS AND/OR A NUMBER for each gap
How do investors choose stocks?
• Daily volume of stock trades highlights the challenge of choosing stocks
• Definition: Stocks as partial 1 in a company
• Investor goals: Sharing a company’s success (profits)
• Stock price determination: Supply and demand from 2
• Market price reflects the perceived value of a company (not just current profits)
III Investor Goals and Strategies
• Overall goal: Increase wealth through stock appreciation o Sub-goal 1: Outpacing 3 o Sub-goal 2: "Beating the market" (exceeding overall stock market performance)
• Debate between two main investment approaches: o A 4 Investing:
▪ Belief in beating the market through strategic stock selection and timing
▪ Exploiting market inefficiencies (overvalued/ 5 _ stocks)
▪ Methods: Company research, financial analysis, price trends,
▪ Belief in 7 _ efficiency (inefficiencies eventually balance out)
▪ Focus on capturing overall market growth through diversification
▪ Method: Index funds (different stocks that mirror the market)
• Active and passive investing are not mutually 9 _ (hybrid strategies possible)
• Investing involves 10 ; no guaranteed foolproof method exists.
Listening skill: Distinguishing between facts and opinions
A fact is known to be true or can be proven or disproven An opinion is someone’s personal belief; it cannot be proven or disproven
The ability to distinguish between facts and opinions helps you analyze the strength of a speaker’s argument and determine if the information provided is reliable These phrases signpost facts and opinions:
Signposts for Facts Signposts for Opinions
• Verbs that signal information or research: show, prove, verify, support, cause
• Expressions to signal a belief, perception, or interpretation: I think, we believe, it seems, it appears
• Numbers, statistics, or time periods to introduce facts: 40 percent, 15 students, research shows that
• Modals to signal advice, certainty, or possible solutions: should, must, could, might
• Expressions to introduce factual support: studies conducted, eyewitness reports, from the evidence, data reveal
• Adjectives that express judgments: best, worst, most important
• Adverbs and other words that show uncertainty: likely, probably, possibly, maybe, perhaps
Exercise 1: Choose the correct noun in italics to collocate with the verbs in 1-8
1 cut into the success / the bottom line
3 shift the competition / the emphasis
Exercise 2: Match the first half of the sentences (1-8) with the other half (A-H)
1 From this point of view, employees are the most important part of a business, an idea which is causing quite
2 To serve customers better, the company is shifting
3 Good managers know how far to tolerate
4 In fact, staff retention is now seen as the key driver to boosting
5 Nevertheless, strict measures are needed to control
6 otherwise they can significantly cut into
7 In the end, both innovation and control are needed to successfully outperform
8 Companies often have to undergo radical
A costs and prevent overheads from spiraling out of control
B the production emphasis from quantity to quality
C the competition and maintain a competitive edge
D mistakes and see them as part of the innovation process - they also budget for learning costs
E a stir among traditional, number-crunching managers
F the bottom line and reduce profits
G earnings in service-orientated companies where employees need the freedom to choose how they serve
H change in order to meet the challenges of the digital age
You’re going to hear Jost Van der Saar, a business analyst, talking about the situation at 3M, a multinational corporation
Exercise 3: Listen and identify the following sentences as fact or opinion Write the words/phrases that help you decide
Sentence Fact or Opinion Words/Phrases
Exercise 4: Listen to the interview with Jost Van der Saar and complete the summary using the list of words (A-I) below
Balancing Efficiency and Innovation: A Case Study of 3M
This interview with Jost Van der Saar, a business analyst, uses 3M, a company renowned for its 1 , as a case study Under former CEO James McNerney, a focus on efficiency, evident in workforce 2 and the implementation of the strict Six Sigma program, aimed to boost 3 While welcomed by 4 at first, this approach raised concerns about discouraging the very source of 3M's success: its innovative spirit This is reflected in a 5 in the contribution of new products to sales Recognizing the importance of creative spark, the current CEO, George Buckley has loosened the 6 of Six Sigma, seeking to regain innovation while maintaining financial stability
Exercise 1: Choose the option that has the closest meaning to the underlined words/phrases
1 The market appraisal revealed an opportunity for an eco-friendly cleaning product
2 Our handcrafted furniture creates differentiation in a mass-produced market due to its unique design and quality materials
3 The ad campaign, which focuses on environmental responsibility, has enhanced brand appeal and boosted sales
4 We've positioned ourselves as the tech-savvy hub for remote work, attracting skilled professionals
5 The article specializing in technology-assisted finance tells you how to avoid some of the pitfalls of online banking
6 Participating in industry conferences increased the company's exposure and brand recognition
7 While the handcrafted pottery process was labour-intensive, it yielded unique, high- quality pieces
8 Most staff will never want to plough through the manuals that come with the software
A read through B stumble upon C hear of
You will hear a discussion between Clive, the owner of a bicycle accessories business, and Rose, a business advisor
Exercise 2: Listen and identify the following sentences as fact or opinion Write the words/phrases that help you decide
Sentence Fact or Opinion Words/Phrases
Exercise 3: Choose the correct option to complete each question/sentence
1 Rose suggests that when Clive appraises his business, he should highlight
A the scope of his after-sales service
B the speed of his delivery system
C the quality of his product range
2 In the medium term, Clive says his main aim is to
A increase his number of multiple retailer stockists
B improve his standing against competitors
C broaden the skills base of his staff
3 What is Clive’s long-term goal?
A to replace existing goods with higher quality goods
B to boost his profile through association with sport
C to build and maintain a stronger brand image
4 What point does Rose make about advertising in newspapers?
A The effect of the message may be slight
B The message must be repeated frequently
C The possibilities for message design are limited
5 Why does Clive think advertising in guidebooks would be effective?
A Guidebooks generally only carry a few advertisements
B Copies of guidebooks are often kept for several years
C Several people usually read each copy of a guidebook
6 What aspect of direct mail worries Clive?
A the cost of buying lists of consumers
B the time needed to produce a mailshot
C the difficulty of measuring effectiveness
7 What does Rose advise about preparing a mailshot?
A All visual features should be consistent
B Only high-quality stationery items should be used
C The letter should have a direct personal style
8 Rose says a widespread problem about exhibitions is that
A exhibitors' normal routines are disrupted by participating
B organisers lack accurate knowledge of markets
C visitors rarely place orders at an exhibition
Note-taking skill: Taking notes on process and development The topics of many lectures, presentations, and reports in business focus on the development of a product or project Understanding the order in which things develop is a critical thinking skill It requires focusing on how an idea turned into a product; the information on who and why may be secondary Taking notes on this information can be difficult because you might or might not hear a short step-by- step process; the time between steps may take months or years The development of an idea will also probably follow a 1-2-3 order of instructions, but that will not always be the same
Here are some key phrases indicating chronological order and step-by-step processes:
• While she was working on that idea, …
• We went back to the drawing board and
Exercise 1: Complete the sentences below with the words in the box radical high-impact disruptive liberated bold incremental appetite branch out
1 The fintech * company with its online lending platform threatened to be , forcing traditional banks to innovate
2 Taking a step into a new market proved the company's entrepreneurial and risk-taking spirit
3 Our company quietly achieved steady gains through operational improvements
4 By automating repetitive tasks, employees felt to focus on creative problem- solving initiatives
5 The CEO's decision to scrap the current business model and start a new one was seen as
6 The launch of our eco-friendly packaging resulted in a rise in customer loyalty
7 Investors with a high for risk adopted the groundbreaking AI software, promising lucrative returns
8 To diversify its revenue stream, the company tried to into new markets with its existing technology
*fintech: short for "financial technology," refers to the use of technology to improve and automate the delivery and use of financial services
You are going to hear Daniela Alegre’s presentation at a conference
Exercise 2: Listen to the first part of the presentation and choose the correct answer
1 What is NOT a successful example of product innovation mentioned by the speaker?
2 What will be the consequences for businesses that don’t innovate?
B They will lose some investment sources
C They will not have business deals
Exercise 3: Listen to the next part of the presentation Use the outline below to take notes on the methods of innovation
Exercise 4: Use the notes you have taken to answer these questions
1 When companies introduce new models of existing products, which innovation type is this referred to?
2 What happens when technology enters a new market?
3 In what ways did companies that make digital cameras create new and exciting kids’ toys?
4 How does disruptive innovation impact existing markets?
5 How have online streaming websites changed film and TV industries?
6 What is the rarest type of innovation?
7 What are some characteristics of radical innovation?
After attending Daniela’s presentation, a team from Attollus is discussing the potential innovations for their company
Exercise 5: Listen and decide whether the statements are true or false
1 The woman thinks the company should only focus on producing more existing products
2 The man is content with the current pattern of increased revenue through new models
3 It is suggested that adaptation of existing technology be made to enter a new market, like horizontal transport
4 The woman’s most ambitious idea is a combined horizontal and vertical passenger transport system
5 Everyone in the conversation is comfortable with taking high risks for significant innovation
Watch the video How does money laundering work? and answer the following questions
1 _ was convicted of tax evasion in the 1930’s
2 Take notes of the process of money laundering
Word PoS Definition Unit aftermath n the effects and results of something bad or important 2 amicable adj done in a polite or friendly way and without quarrelling 2 angel n a wealthy person who invests money in new businesses 3 appetite n a strong desire or need 6 appositive n a phrase that gives additional information in a sentence 2 appraisal n a judgement of the value, performance or nature 5 atypical adj not typical or usual 4 backer n a person who gives financial support to something 3 bold adj not afraid of taking risks and making difficult decisions 2 bombard v to attack verbally, especially with questions 5 bottom line n phr the essential point in a discussion 4 branch out v to expand or extend one's interests 6 brand awareness n phr the extent to which consumers recognize a product or service
4 breakeven point n phr the point at which a business makes neither profit nor loss
4 bull run n a period during which prices of SHARES are generally rising
2 catastrophic adj causing a lot of damage or making a lot of people suffer 2 cause a stir v phr to cause excitement or annoyance 6 charter n a statement of the rights of an organization or a social group
1 chemistry n understanding and attraction between two parties 3 choreographer n a person who plans the movements dancers make 3 commission v to officially ask someone to do some work for you 5 compromise v to give up some of your demands in a dispute in order to reach an agreement
5 court hearing n phr a brief court session that resolves a specific question 2 cross- functional adj involving people from different divisions or departments 1 deface v to damage the appearance, especially by drawing or writing on it
5 deliverable n a product that is promised to be ready for customers 1 driving force n phr an event with a strong influence and that causes a big change
4 equities n shares in companies 2 exert v use power or influence to affect sb/sth 3 flutter n a small bet 3 foolhardy adj taking unnecessary risks 2 foothold n a strong first position from which further advances can be made
4 fraudster n a person who commits fraud 4 fringe benefit n phr an additional advantage given with a job besides wages 5 go/run aground v phr the situation when a ship becomes stuck in a place 2 gullibility n the tendency to be easily tricked by what other people tell you
4 hedge v protect yourself against the risk of losing money in the future
4 high-end adj expensive and of high quality 4 high-impact adj having a strong influence 6 hotshot n a person who is extremely successful in their career or at a particular sport
3 impulse n a sudden strong desire to do something 3 incremental adj increasing in amount or value gradually 6 in-fighting n conflict between members of the same organization 3 infringe v to break a law or rule 5 labour- intensive adj involving a lot of workers 5 liquidity n ability to exchange things of value for cash to pay debts 2 manoeuvre n a skillful or carefully planned action intended to gain an advantage
3 masquerade v to pretend to be something or someone different 5 operational adj working and ready to be used 2 overstretched adj without enough money, people, etc to operate effectively 4 perjury n the crime of telling a lie in a court of law 4 pitfall n a danger or difficulty, especially not obvious at first 5 plough through v to read all of something, even though it is boring 5 premium n an extra payment added to the basic rate 5 preoccupation n sth that you think about frequently or for a long time 3 probability n how likely sth is to happen 3 prohibitively adv preventing people from buying or doing something 3 prudent adj sensible and careful; avoiding unnecessary risks 2 radical adj relating to the most important parts 6 reckless adj not thinking about the possible bad effects of your actions 2 repertory house n a theatre where one company of actors performs different plays
3 risk-averse adj unwilling to take risks, especially in business 2 rough patch n a difficult period of time 1 run-of-the- mill adj not special or interesting in any way 4 sell-off n the sale of a lot of stocks or shares, which makes the price decrease
4 settlement n an official agreement that finishes an argument 2 turmoil n a state of great anxiety, confusion and uncertainty 2 turnover n the amount of business done 4 value proposition n phr a benefit that a product or service provides to customers 1 volatility n the likelihood of sudden and unexpected change 4 volatility n liability to change rapidly and unpredictably, especially for the worse
2 yardstick n a standard used for comparison 4
1 True 2 False 3 False 4 True 5 True
• worked for his family business
1 He was a biochemist and had scientific experience of working in a laboratory
3 He was given the chance to work for the family company and the use of the company laboratory for experimentation
5 Cash was generated from sales
6 problems with customers who went out of business, leaving unpaid debts
7 It has built its own premises and now has a production facility
8 developing new products and ideas
1 The timeline of Starbucks’s business in Australia:
• July 2000: Starbucks opened its first Australian shop in Sydney
• By 2007: Starbucks Australia was hanging on by a thread taking big loans from the US, totaling up to $54 million
• In 2008, Starbucks announced it was shutting down 61 stores
2 2008 was a difficult time for businesses due to the financial crisis
3 They consider cafes is a place for meeting friends, hanging out and knowing local barista They also prefer their own way of making coffee, meaning not too much sugar in it
• bought land and built our own office, warehouse and production unit
• 2004: one main customer went out of business
• left with all the stock they had ordered but hadn't yet paid for
• took two years to get over
• planning a number of new product launches and we're also working on some very interesting new ideas
4 Adapt to Australian’s coffee culture and offer more offers more espresso drinks and specialty coffee
1 No ( nobody can predict which assets or sectors will perform best)
2 Equities, commercial property and cash
3 It has changed and bonds are linked to equities (In the past, bonds and equities were less linked, and investors expected to do well in bonds when equity markets were falling But bond markets are not the same anymore The likelihood is that you will lose money less slowly with bonds in a downturn, but you are very unlikely to make any money.)
4 By mentioning more volatility, higher charges and less liquidity
1 True 2 True 3 False 4 False 5 True
Union Carbide gas leak Exxon Valdez oil leak
1 Because modern people consider ‘overwork is a badge of honor and resting is a weakness’