TIẾNG ANH CHUYÊN NGÀNH QUẢN TRỊ KINH DOANH

Unit 3: Work and motivation 3.1 Lead – in One of the most important responsibilities of a manager is to motivate the people who report to him/ her.. In 20--, I went to Florida for a mon

Trang 1

TRƯỜNG ĐẠI HỌC QUẢNG BÌNH

Trang 2

Contents

Part1: Managerment 5

Unit 1: Managerment 5

1.1 Introduction to Management and Organizations 5

1.3 Management Roles 6

1.4 Management Skills 7

Unit 2: Managing across cultures 8

2.1 Basic term 8

2.2 Managing a global multinational company 8

Unit 3: Work and motivation 11

3.1 Lead – in 11

3.2 Attitudes to work 12

3.3 “Satisfiers” and “motivators” 14

Unit 4: Recruitment 16

4.1 Reading: Filling a vacancy 16

4.2 Job applications 16

Unit 5: Company Structure 20

5.1 Wikinomics and the future of companies 20

5.2 Wikinimics principle 20

Part 2: Production 22

Unit 6: The difference sectors of the economy 22

6.1 Another cup of tea 23

6.2 Manufacturing and services 24

Unit 7: Production 26

7.1 Basic term 26

7.2 Capacity and inventory 27

Unit 8: Logistics 28

8.1 Pull and push strategies 29

8.2 Manufacturing supply chain workflow 30

Part 3: Marketing 32

Unit 9: Marketing 32

9.1 Basic terms 32

9.2 The product life cycle 34

Trang 3

9.3 “The Dell Theory of Conflict Prevention” 36

Unit 10: Advertising 38

10.1 Basic terms 38

10.2 Advertising functions 39

Unit 11: Products 41

11.1 Product and brand 41

Part 4: Economics 43

Unit 12: The business cycle 43

12.1 Basic terms 43

12.2 What causes the business cycle? 44

Unit 13: Efficiency and employment 47

13.1 Basic terms 47

13.2 Unemployment 48

Unit 14: Exchange rates 51

14.1 Exchange rate 51

14.2 A CURRENCY TRANSACTION TAX 52

Unit 15: International trade 54

15.1 Basic terms 54

15.2 For and against free trade 55

Part 5: Financial 57

Unit 16: Banking 57

16.1 Financial institutions 57

16.2 The subprime crisis and the credit crunch 59

Unit 17: Bonds 60

17.1 United States Department of Treasury Building, Washington, DC 60

17.2 Basic terms 62

Unit 18: Stocks and Shares 64

18.1 Stocks Basics: What Are Stocks? 64

18.2 How stocks and shares work 64

Unit 19: Accounting and financial statements 66

19.1 Basic accounting terms 66

19.2 Different types of accounting 67

Unit 20: Market structure and competition 69

Trang 4

20.1 Market structure 69

Trang 5

Part1: Managerment

Unit 1: Managerment

1.1 Introduction to Management and Organizations

The 21st century has brought with it a new workplace, one in which everyone must adapt to a rapidly hanging society with constantly shifting demands and opportunities The economy has become global and is driven by innovations and technology and organizations have to transform themselves to serve new customer expectations

Today’s economy presents challenging opportunities as well as dramatic uncertainty The new economy has become knowledge based and is performance driven The themes in the present context area ‘respect’, participation, empowerment, teamwork and self management In the light of the above challenges a new kind of leader is needed to guide business through turbulence Managers in organizations do this task

A manager is someone who coordinates and oversees the work of other people so that organizational goals can be accomplished It is not about personal achievement but helping others do their job Managers may also have additional work duties not related to coordinating the work of others Managers can be classified by their level in the organization, particularly in traditionally structured organizations—those shaped like a pyramid

1 First-line managers (often called supervisors) are located on the lowest level

The changing nature of organizations and work often requires employees in formerly nonmanagerial jobs to perform managerial activities Non managerial jobs are those where one works directly on a job and had no one reporting to him Mary Parker Follet defines management as, “The art of getting things done through

Trang 6

people” Management involves coordinating and overseeing the work activities of others so that their activities are completed efficiently and effectively

1.3 Management Roles

In the late 1960s, Henry Mintzberg conducted a precise study of managers at work

He concluded that managers perform 10 different roles, which are highly interrelated

Management roles refer to specific categories of managerial behavior Overall there are ten specific roles performed by managers which are included in the following three categories

1 Interpersonal roles include figurehead, leadership, and liaison activities

2 Informational roles include monitoring, disseminating, and spokesperson activities

3 Decisional roles include entrepreneur, disturbance handler, resource allocator, and negotiator

Although the functions approach represents the most useful way to describe the manager’s job, Mintzberg’s roles give additional insight into managers’ work

Trang 7

Some of the ten roles do not fall clearly into one of the four functions, since all managers do some work that is not purely managerial

1.4 Management Skills

Managers need certain skills to perform the challenging duties and activities associated with being a manager Robert L Katz found through his research in the early 1970s that managers need three essential skills

1 Technical skills are job-specific knowledge and techniques needed to proficiently perform specific tasks

2 Human skills are the ability to work well with other people individually and

Trang 8

Unit 2: Managing across cultures

2.1 Basic term

Match the words in the box with definition below

Confrontation: Đối đầu Connections: Nối, liên kết

Eye contact: Giao tiếp bằng mắt Globalization: Toàn cầu hóa

1 An invented word combining worldwide and regional concern

2 Thought based on reason and judgment rather than feelings and emotions

3 A face- to – face disagreement or argument

4 Reducing demands or changing opinions in order to agree

5 Understanding or knowing with consciously using reason

6 People of influence or importance with whom you are associated

7 To do something when necessary without having already planned it

8 Respect, prestige or importance given to someone

9 Believing that the group is more important than the individual

10 To be humiliated or disrespect in public

11 To cut into someone else’s turn to speak

12 Looking directly at the people you are talking or listening to

2.2 Managing a global multinational company

Managing a global multinational company would obviously be much simpler if it required only one set corporate objectives, goals, policies, practices, products and services But local differences - cultural habits, beliefs and principles specific to each country or market - often make this impossible The conflict between globalization and localization has be successful in foreign markets have to be aware of the local cultural characteristics that affect the way business is done Richard Lewis has classified different cultures according to three Poles representing different types of behavior Business people in linear - active cultures such as Britain, the USA and Germany are generally organized and rational, try to act logically rather than emotionally, plan in advance, and like to do one thing at a

Trang 9

time They believe in respecting rules, regulations and contracts, and so are what the Dutch theorist Fons Trompenaars call "universalists" - they think rules apply to everybody They are not afraid of confrontation but will compromise when necessary to achieve a deal They are essentially individualist

Multi - active cultures in Southern Europe, Latin America and Africa more importance to feelings, emotions and intuition, and relationships and connections People like to do many things sat the same time; they are flexible, good at changing plans and happy to improvise They believe in social or company hierarchy, and respect status They are essentially collectivists, and also what Trompenaars 'particularist' - they believe that personal relationship and friendships should take precedence over rules and regulations

People in “reactive culture” in Asia prefer to listen to and establish the other’s position, and then react to it They try to avoid confrontation, and don't want to lose face or cause someone else to They rarely interrupt speakers and often avoid eye contact They try to formulate approaches which suit both parties Other countries have cultures which show combined characteristics of two of these poles, and can be represented along the sides of a triangle

Comprehension:

1 Why is it important for companies to be aware of local cultures?

2 What are the differences between individualist and collectivists?

3 Who is more likely to think: “I’ll let them speak first.”

4 Who is more likely to say, about other people: “They can't be trusted because they will always help their friends or family” - universalist or particularists?

5 Who is more likely to say: “Oh, you can't trust them; they wouldn't even help a friend?”

Discussion:

1 To what extent do you agree that it is possible to sum up national characteristics in a few words? Is there usually some (or a lot of) truth in such stereotype? Or, on the contrary, do you find such stereotyping dangerous?

Trang 10

2 If your country is not show on the diagram, where do you think it should be situated? If your country is shown, do you agree?

3 Would you say that you, personally, were individualist or collectivist? Particularist or Universalist?

4 What about the majority of people in your country?

Trang 11

Unit 3: Work and motivation

3.1 Lead – in

One of the most important responsibilities of a manager is to motivate the people who report to him/ her But how? What kinds of things motivate you? Which of these motivators would be important for you in your choice of a job?

 Responsibility

 Good remuneration (salary, commission, bonuses, perks)

 Good working conditions (a lager, light, quiet office)

Trang 12

 Good working relations with your line manager and colleagues

 Contact with people

 The possibility of promotion

 Opportunities to travel (business class!)

3.2 Attitudes to work

 Which of the following statement do you agree with?

1 People dislike work and avoid it if they can

2 Work in necessary to people’s psychological

well – being

3.People avoid responsibility and would rather be told what to do

Trang 13

4.People are motivated mainly by money

1 Most people are far more creative then their employers realize

6.People are motivated by fear of losing their job

Trang 14

7.People want to be interested in their work and, given the right conditions, they will enjoy if

8.Under the right conditions, most people will accept responsibility and will want

to realize their own potential

3.3 “Satisfiers” and “motivators”

Another well-known theorist of the psychology of work, Frederick Herzberg, has argued that good working conditions are not sufficient to motivate people Read the text and find out why

It is logical to suppose that things like good labour relations, good working conditions, job security, good wages, and benefits such as sick pay, paid holidays and a pension are incentives that motivate workers But in The Motivation to Work, Frederick Herzberg argued that such conditions-or ‘hygiene factors’ – do not in fact motivate workers They are merely ‘satisfiers’ – or, more importantly,

‘dissatisfies’ where they do not exist Workers who have them take them for granted As Herzberg put it ‘A reward once given becomes a right ‘Motivators’,

on the contrary, include things such as having a challenging and interesting job, recognition and responsibility, proposition, and so on Unless people are motivated, and want to do a good job, they will not perform well

However, there are and always will be plenty of boring, repetitive and mechanical job, and lots of unskilled workers who have to do them How can managers motivate people in such jobs? One solution is to give them some responsibilities, not as individuals but at part of a team For example, some supermarkets combine office staff, the people who fill the shelves, and the people who work on the checkout tills into a team and let them decide what product lines to stock, how to display them, and so on Other employers encourage job rotation, as doing four different repetitive jobs a day is better than doing only one Many people mow talk

Trang 15

about the importance of a company’s shared values or corporate culture, with which all the best hotel chain, or hamburger restaurant chain, or airline, or making the best, safest, most user – friendly, most ecological or most reliable products in a particular field Unfortunately, not all the competing companies in an industry can seriously claim to be the best

Are these sentences true or false?

1 Herberg argued that ‘hygiene factors’ motivate workers

2 Challenging jobs and responsibility are hygiene factor

3 Some unskilled jobs will always be boring and repetitive

4 Workers might be motivated by having responsibilities as part of a team

5 Job rotation can make a day’s work more interesting

6 You can always motivate workers by telling them that they work for the best company in the field

Find the words in the text that mean the following

1 Interactions between employers and employees, or managers and workers

2 Knowing that there is little risk of losing one’s employment

3 Money paid (per hour or day or week) to manual workers

4 Advantages that come with a job, apart from pay

5 Things that encourage people to do something

6 To be raised to a higher rank or better job

7 Without any particular abilities acquired by training

8 Regularly switching between different tasks

9 A company’s shared attitudes, beliefs, practices and work relationships

Trang 16

Unit 4: Recruitment 4.1 Reading: Filling a vacancy

When employees “give notice”, i.e inform their employer that they will be leaving the company as soon as their contract allows, in what order should the company carry out the steps listed below? Complete the chart opposite with the letters A-I

A either hire an employment agency (or for a senior post, a firm of headhunters), or advertise the vacancy

B establish whether there is an internal candidate who could be promoted (or moved sideways) to the job

C examine the job description for the post, to see whether it needs to be changed (or indeed, whether the post needs to be filled)

D follow up the references up candidates or applicants who seem interesting

E invite the shortlisted candidates dates for an interview

F make a final selection

G receive applications curricula vitae/resumes and covering letters, and make a preliminary selection (a shortlist)

H try to discover why the person has resigned

I write to all the other candidates to inform them that they have been unsuccessful

4.2 Job applications

When applying for your first job as a business graduate, you are probably only one of many applicants, most of whom will have similar experience and qualifications to your own

How can you get your name onto the shortlist for interviews when applying for a job?

What can you do to impress the organization, which is hiring staff?

Trang 17

Which of the following extracts from a CV/resume and different application letters would help the candidate to get an interview and why?

1 Dear Sir or Madam,

I am writing to express my interest in applying for the position of Community Fundraiser advertised in the Morning Herald on 13 May, 20 , I am looking for a challenging entry - level position that allows me to contribute my skills and experience to fundraising for a charity

2 I am writing to express my interest in the position of Account Manager that was advertised on your website on 13 February, 20 I’m extremely interested in this position, and I would like the opportunity for an interview in which I could show you how I can benefit your company

3 I play for the university basketball team We have won the national university championship for the past two-year

4 My parents are French and Russian, and because they work for a multinational company, I grew up in four different countries I did all my schooling in English, but I speak and write fluent French and Russian I can also read Italian, Spanish, Romania and most Slavic languages

5 Employment

Saturdays, 2006-8, and full-time July 2008, Right Price food store, West End Avenue (shelf-filling)

Trang 18

July 2009, Port Authority Bus Terminal, 8th Avenue (bus cleaner)

August 2009, grape-picking, NapaValley, California

November 2009-June 2010, tourist guide at St Patrick’s Cathedral, 5th Avenue (Saturdays)

6 I have travelled extensively during my last three summer vacations, In 20 , I travelled around the Mediterranean (Spain, France, Italy, Greece) for ten weeks In 20 , I went to Florida for a month, and I spent six weeks in Bali in 20 , I have consequently met a great many people from many different cultures, and I am absolutely convinced that these cross-cultural experiences make me suitable for a position in international marketing, and that your company would have a great deal

to gain from employing me

7 Dear Mr/Ms [name]

I am applying for the Sales Associate position which we discussed during the Career Fair at the National University in [city] on[date], I believe my varied sales experience and my Bachelor’s degree in Business Administration are am excellent match to the qualifications you are seeking

As you can see from the enclosed resume, I have sold a variety of product in time job during my studies and have worked in sales department during two internship positions This experience, as well as my oral and written communication skills, should prove valuable in creasing [company name]’s sales volume I am enthusiastic about pursuing a career I sales with [company name] because of your varied product line and international distribution network

part-8 I am seeking a challenging position with a progressive company that offer opportunities for professional growth and advancement I am results orientated, a self-starter and a team player I’m a good communication, and have excellent project management, interpersonal, people management and negotiation skills I cam also work unsupervised I am committed, creative, competitive, ambitious, adaptable and flexible I am good at meeting deadline, solving problems and making decisions

9 As you will see from my CV, I scored an average of 91% in my university examination (94% at the end of the first years, 87% in my second year, and 92% in

my final year exam) I stayed on to do a post-graduate degree in finance and

Trang 19

banking, and was encouraged to extend my Master’s dissertation into a doctorate, which I have done in the past ten months I expect to be awarded my PhD in six weeks time

 European and Asian CVs generally include photos; US resumes do not

 British CVs include personal details such as date of birth, marital status Numbers of children, etc., US resumes do not

 British CVs usually include outside work interest (sports, travelling); US ones sometime don’t

 Your CV should be totally honest; you should emphasize your strengths, but not lie about your experience or skills It should not say anything that contradicts what you've put on your Facebook page, or similar!

 Leave out information that is irrelevant or that could give some people a chance to discriminate against you (personal details such as your height, weight, health country of origin, religion, etc.)

 Limit your CV to maximum of two pages

 Lay your CV out neatly

Check for grammatical and spelling or typographical errors, and do not rely

on automatic spell checker Get someone to check your CV before you send it

Trang 20

Unit 5: Company Structure

5.1 Wikinomics and the future of companies

Experts are forecasting that in the

future companies will use the Internet

and the “wikinomics” principle (from

wiki, the Hawaiian word for “quick”,

collaborating with people outside the

traditional corporate structure, letting

people around the word cooperate to improve an operation or solve a problem, and paying them for their ideas This is an extension of the trend of outsourcing: transferring some of the company’s internal functions or operations or jobs to outside suppliers, rather than performing them “ in-house ” In other words, companies will no longer need to get all their knowledge from their own full-time employees

Here are two examples from Don Tapscott and Anthony D.Williams’ book Wikinomics: How Mass Collaboration Changes Everything:

Red Lake, a Canadian gold mine, wasn’t finding enough gold and was in danger of closing down Then its chief executive heard a talk about Linus Torvalds, the inventor of Linux, the open-source computer operating system He decided to put the company’s secret geological data on the Internet, and offered prize money to experts outside the company who could suggest where undiscovered gold might lie People around the world recommended 110 targets, and 80% of them turned out to contain gold The company’s value has risen from $100 m to $9 bn

Trang 21

 Cybercrime

 Business Secrets

Vocabulary

a Autonomous: Tự trị / chủ động

b To delegate: Giao phó / uỷ nhiệm

c Function: Chức năng/ chức vụ/ trách nhiệm

d Hierarchy or: Hệ thống cấp bậc hoặc chuỗi mệnh lệnh chain of command

e Line authority: Quyền hạn

f To report to: Báo cáo cho…

1 ……… a system of authority with different levels, one above the other, e.g

a series of management positions, whose holders can make decisions, or give orders and instructions

2 ……… a specific activity in company, e.g production, marketing, finance

3 ……… independent, able to take decisions without consulting someone at the same level or higher in the chain of command

4 ……… The power to give instructions to people at the level below in the chain of command

5 ……… to be responsible to someone and to take instructions from them

6 ……… to give someone else responsibility for doing something instead of you

Trang 22

Part 2: Production

Unit 6: The difference sectors of the economy

Metallurgical (luyện kim ) Business (kinh doanh buôn bán

Coal mining (khai thác than đá) Mechanical (cơ khí)

READING

Comprehension

Vocabulary

Trang 23

READING 1

6.1 Another cup of tea

In this extract from David Lodge's novel Nice Work, Robyn Penrose, a university English lecturer, is accompanying Vic Wilcox, the managing director of a manufacturing company, on a business trip to Germany She looks out of the aeroplane window, and begins to think about the essentially English act of making

a cup of tea

• What is the key point that this extract is making about economies ?

Sunlight flooded the cabin as the plane changed course it was a bright, clear morning Robyn looked out of the window as England slid slowly by beneath them: cities and towns, their street plans like printed circuits, scattered over a mosaic of tiny fields, connected by the thin wires of railways and motorways

Hard to imagine at this height all the noise and commotion going on down there Factories, shops, offices, schools, beginning the working day People crammed into rush hour buses and trains, or sitting at the wheels of their cars in traffic jams, or washing up breakfast things in the kitchens of pebble-dashed semis All inhabiting their own little worlds, oblivious of how they fitted into the total picture

The housewife, switching on her electric kettle to make another cup of tea, gave no thought to the immense complex of operations that made that simple action possible: the building and maintenance of the power station that produced the electricity, the mining coal or pumping of oil to fuel the generators, the laying of miles of cable to carry the current to her house, the digging and smelting and milling of ore or bauxite into sheets of steel or aluminum, the cutting and pressing and welding of the metal into the kettle's shell, spout and handle, the assembling of these parts with scores of other components coils, screws, nuts, bolts, washers, rivets, wires, springs, rubber insulation, plastic trimmings; then the packaging of the kettle, the advertising of the kettle, the marketing of the kettle to wholesale and retail outlets, the transportation of the kettle to warehouses and shops, the calculation of its price, and the distribution of its added value between all the myriad people and agencies concerned in its production, The housewife gave no thought to all this as she switched on her kettle Neither had Robyn until this

Trang 24

moment, and it would never have occurred to her to do so before she met Vic Wilcox

Vocabulary

Comprehension

In the 20th century, the economy was described as consisting of three sectors:

 The primary sector: agriculture, and the extraction of raw materials from

the earth

 The secondary sector: manufacturing industry in which raw materials are

turned into finished products

 The tertiary or service sector: the commercial services that help industry

produce and distribute goods to their final consumers as well as activities such as education healthcare, leisure, tourism, and so on

Reading 2

6.2 Manufacturing and services

Read the following statements about manufacturing and services in advanced countries

 Which of them are in support of manufacturing in advanced countries, and which are in support of services?

 Which of them do you find the most convincing, and why?

Trang 25

 Find words in the statements above that mean the following:

A products sold to other countries

B property: buildings such as offices, houses, flats (BrE) or apartments (AmE)

C work done in return for money

D to move your factories to another region or country

E to use other company to do work your company previously did itself

Trang 26

Unit 7: Production

7.1 Basic term

Before reading and hearing about industrial production, match up the sentences below, which define some basic terms

half-1 Inventory (AmE and BrE) or Stock (BrE) is a company’s reserves

2 A component is any of the pieces or parts

3 Capacity is the (maximum) rate of output

4 Plant is a collective word for all the buildings, machines, equipment,

5 Location means the geographical situation

6 A supply chain is a network of organizations

7 Outsourcing means buying products or processed materials

8 Economies of scale are the cost savings

9 Lead time is the time needed to perform an activity

A and other facilities used in the production process

B arising from large-scale production

production

So on…

(vv…)

Trang 27

C from other companies rather than manufacturing them

D involved in producing and delivering goods or a service

E of a factory or other facility

F of raw materials, pats, work in process, and finished products

G such as manufacturing a product or delivering it to a customer

H that can be achieved from a production process

I that make up a product or machine

7.2 Capacity and inventory

Operations managers have to decide where to manufacture different products, how much productive capacity their factories and plants should have, and how many inventory to maintain Read the 15 sentences on the next page, and classify them under the six hearings (A-F) Some sentences may fall under two hearings

1 A long lead time may allow competitors to enter the market

2 As production volume increases, you get economies of scale (the average fixed cost per unit produced decreases)

3 Finding enough workers and coordinating material flows can become difficult

4 If lead time increases, some customer may go to other suppliers

5 Lost sales and market share are usually permanent

6 The working environment might get worse and industrial relations could deteriorate

7 There are costs of storage, handling, insurance, depreciation, the opportunity cost of capital, and so on

8 You can be more flexible in product scheduling, and have longer lead times and lower cost operation through large production runs with fewer set-ups

9 There is always a risk of obsolescence, theft, breakage, and so on

10 You can meet variation in product demand

11 You may be under-utilizing your workforce

12 You have protection against variation in raw material delivery time (due to shortages, strikes, lost orders, incorrect or defective shipments, etc )

13 You may be forced to produce additional, less profitable, products

14 You can take advantage of quantity discounts in purchasing

15 You may have to reduce prices to stimulate demand

Trang 28

Unit 8: Logistics

Vocabulary

1 Accurate /'ækjurit/ : Đúng đắn, chính xác

2 agile /'ædʤail/ : Linh hoạt

3 Estimate (n.) /'estimit / : sự ước lượng,

4 Forecast (n.) /fɔ:'kɑ:st/ : Sự dự đoán trước

5 Lean (adj.) /li:n/ : Sản xuất tinh gọn

6 logistics /'lou'dʤistiks/ : Hậu cần

7 Manual (adj.) /'mænjuəl/ : Làm bằng tay

8 replenish /ri'pleniʃ/ : bổ sung

Trang 29

You are going to read about pull and push strategies for stock control and manufacturing But first, match the words and definitions above

8.1 Pull and push strategies

These eight paragraphs make up a text about inventories, pull and push strategies, and Just-In-Time (JIT) production Put them in the right order to make a logical text Two have already been done

 Manufacturing companies can produce according to pull or push strategies

 Historically, Kanban was a manual system in which cards were placed in component bins in warehouses as a signal that items needed replenishing; today, of course, advanced software is used

 Apart from JIT, other names for pull strategies include lean production, stockless production, continuous flow manufacture and agile manufacturing

In all these systems, nothing is bought or produced until it is needed

 This replenishment strategy was famously developed as Just-In-Time (JIT) production by Toyota in Japan in the 1950s The most common JIT system

is called Kanban, a Japanese word approximately meaning “visual card”

 Supplies are scheduled to meet expected demand, but because demand forecasts are not always accurate, push strategies often incorporate safety stock and safety lead times

 In other words, this is a replenishment strategy: both production and suppliers are constantly reacting to the actual consumption of components, rather than planning ahead

 With a pull strategy, a company manufactures according to current demand, which is satisfied from (a small) inventory When pieces are removed from stock, replacements are automatically ordered from suppliers

 With a push strategy such as Manufacturing Resources Planning (MRP), on the contrary, production is based on estimates of future demand, and begins according to the planned production lead time

 Manufacturing companies can produce according to pull or push strategies

 Historically, Kanban was a manual system in which cards were placed in component bins in warehouses as a signal that items needed replenishing; today, of course, advanced software is used

Trang 30