Đề cương bài giảng tiếng anh chuyên ngành (kinh tế)

BỘ GIÁO DỤC VÀ ĐÀO TẠO
TRƯỜNG ĐẠI HỌC SPKT HƯNG YÊN

TIẾNG ANH CHUYÊN NGÀNH
------------------------------------------

(Tập bài giảng dùng cho sinh viên đại học,hệ chính quy)

Biên soạn: Vũ Thị Huyền
Bộ môn: Kinh tế

THÁNG 10/2015

1


BỘ GIÁO DỤC VÀ ĐÀO TẠO
TRƯỜNG ĐẠI HỌC SPKT HƯNG YÊN

TIẾNG ANH CHUYÊN NGÀNH
------------------------------------------

(Tập bài giảng dùng cho sinh viên đại học, hệ chính quy)

Biên soạn: Vũ Thị Huyền
Bộ môn: Kinh tế

THÁNG 10/2015

2

Unit 1: Brands
1.1. Listening: Why brands matter
a. Sandra Greaves is a consultant at Wolff-Olins, a leading international brand
consultcy based in London. In the first part of the interview she talk about why we need
brands. Listen and complete these extracts.
1. Brands are all about…
2. You know what a brand is…, what it…, what it’s going to…
3. You actually trust it to… … … … again.
4. One thing about brands is they add a lot of … and … and …, as well as giving you
power to … things.
b. Listen to the second part of the interview and tick the points below which Sandra
makes.
1. People are very loyal to successful brands.
2. Even successful brands are seen as just a product or a service
3. Apple was popular because it wasn’t a big corporation
4. Apple customer felt that the Mac was an easy product to use
c. Listen to the example Sandra gives of how Wolff-Olins helped a company with
1. What was the company?
2. What is its business sector?
3. What advice did they receive?
1.2. Reading: Outsourcing production
Made in Europe
By Jo Johnson, Fred Kapner and Richard McGregor
Almost every fashion label outside the top super – luxury brands is either already
manufacturing in Asia or thinking of it. Coach, the US leather goods maker, is a classic
example. Over the past five years, it has lifted all its gross margins by manufacturing
solely in low-cost markets. In March 2002 it closed its factory in Lares, Puerto Rico. Its
last company- owned plant, andoutsources all its products.
Burberry has many Asian licensing arrangements.

In 2000 it decided torenew Sanyo’s Japanese licence for 20 ten years.
This means that almost halfof Burberry’s sales at retail value will continue to be produ
ced under licencein Asia.
At the same time however, Japanese consumers prefer the group’s
Europeanmade products. Sanyo is now creating to this demand for a snob alternative to the Burbe
rryproducts made in its factories across Asia by opening a flagship store inTokyo’s Gin
za, where it sells Burberry products imported from Europe.

3


In interviews with the FT, many executives says the top luxury brands willcontinue to
be seen, particularly in Asia, as European.
Domenico De Sole ofGucci says “ The Asian Consumer really does believe –
whether it’s true ornot –
that luxury comes from Europe and must be made there to be thebest.’
Serge Weinberg, Chief Executive of Pinault Printemps Redoute, whichcontrols Gucci,
says it will not move Gucci’s production offshore.
Yet some inthe industry recognize that change may be round the corner even for thesup
erluxury brands.
Patrizio Bertelli, Chief Executive of Prada, says:’ The“Made in Italy” label is importan
t but what we are really offering is a style,and style is an expression of cultureHe theref
ore recognizes that qualityfashion items may not always need to be produced in italy.
Amitava Chattopadhyay, professor of marketing at Insead, the businessschool, says:’ A
brand is a set of associations in the mind of the consumerand one of these is the countr
y of origin.
For luxury goods, the role of thebrand is crucial.
To damage it is a cardinal sin and no brand manager willwant to get the balance betwee
n manufacturing location and the brandimage wrong’.
1.3. Language review: Present simple and present continuous

Can you give me some examples?
Yes, of course. We use the present simple to talk about things which are repeated every
day, every week, every year, etc.
I usually get up at 7 o'clock.
During the week I have swimming practice on Mondays, I dotaekwondo on
Tuesdays and tennis on Thursdays.
We always go on holiday in the summer.
I see. And you use words for explaining more about the time too.
Yes, we often use adverbs of frequency sometimes, often, usually or other time
expressions like on Mondays, twice a week or in the summer.
What about permanent states? What does that mean?
Permanent states are situations or feelings which are not temporary.
I like him a lot.
Sophie works as a travel writer.
They live in London.
We also use the present simple for general facts, for example when talking about
science or geography.

4


Thailand is really hot at this time of year.
Snakes live on the ground, in trees and in water.
So what do I need to know about forming the present simple?
The main thing is that the third person singular forms end in -s or -es. That's
for he, she or it.
He watches black and white films at his cinema club on Wednesdays.
He thinks chess is a sport!
OK, and the other forms don't end in -s or -es? I watch TV a lot. We think Coldplay are
boring.

Correct!
What about questions and negatives?
For most verbs we use the present simple of the verb do/does + subject +
infinitive without to to form questions.
Do you see him on Wednesdays then?
Does Jack like sports?
For negatives we use the subject + do/does + not + infinitive withoutto.
Daisy and Jack don't go out together much at the weekend.
I don't think Coldplay are boring.
To go back to the idea of permanent and temporary things, what about this sentence: Is
your mum in Thailand this week? Isn't that temporary?
Yes, it is. That's a very good point. Normally we use the present simple for permanent
states, and the present continuous for temporary states, but some verbs are thought of as
State Verbs and they are not usually used in the continuous form.
And the verb to be is one of those verbs?
Exactly! So even though staying in Thailand is temporary, we use the present simple
with the verb to be. Here's another example:
How's Daisy? Is she with you?
But that isn't the question form you just told me about! Where's the do?
Ah, no. I said 'for most verbs we use do in questions'. The verb to be is different and so
are modal verbs like can. We'll look at the verb to beseparately because it's different
and very common.
What are the other state verbs?
We'll look at those when we look at the Present Continuous. Any more questions?
Yes, what about: The train leaves at 5 in the morning? Isn't that talking about an event
in the future?
Yes, it is, but it's also a repeated event. This is sometimes called the 'timetable future'.
OK, I have a maths class in a minute, so I have to go.

5

- Skills: Taking part in meetings
Talking part in meetings
Four marketing executives at a cosmetics company, Marvel Plc, are talking about
licensing their 'Luc Fontaine' product range to an Asian manufacturer. Listen to the
conversation and answer the questions.
1.Why do the marketing executives at Marvel Plc want to license their 'Luc Fontaine'
product range?
2.What advantages does Susan Li offer to Marvel?
3.According to Barbara, what is the disadvantage of offering a license to Susan Li?
4.What suggestion does Barbara make to her colleagues?
Discussion: Two promotions
Case 1: Harley Davidson
In 2003 the Harley Davidson brand was 100 years old. Although its brand image
is based on the spirit of wild and rebellious youth such as Marlon Brando in the film
The Wild One (1954), the typical consumer is very different. They are likely to be rich,
middle-aged accountants trying to recapture their youth. The average age of Harley
Davidson customers is 46 compared with 36 for the rest of the motorbike industry. At
the party to celebrate the centenary, the surprise performance was actually Elton John,
rather than the Rolling Stones who many people had expected. This caused many of the
150,000 riders and dealers to leave the event very unhappy. Although sales and
earnings for Harley Davidson have been increasing for the past 18 years, many people
see the trouble on the road ahead. The problem is Harley Davidson’s typical customers
from the baby –boom generation (1946 – 1964) and, as these customers get older,
Harley Davidson may find its market shrinking.
Case 2: JCB
JCB is a world-famous engineering company. It was founded in 1945 by Joseph Cyril
Bamford. He began his business working alone in a small garage. JCB makes
construction and agricultural equipment such as tractors, earth-moving vehicles, and

loading machines. Now its world headquarters in England is one of the finest
engineering factories in Europe. The company produces over 130 different models on
four different continents and sells a full range of equipment in over 150 countries. It is
truly a global brand.
JCB’s research showed that its customers associated with the company with the
following brand values :’yellow,’digger’, and ‘durable’. Adult saw the brand and being
functional. Children, on the other hand, saw the brand as ‘big’, ‘muddy’ and ‘fun’. JCB
made a decision to stretch its brand.

6


1. Where does the name JCB come from?
Its come from by Joseph Cyril Bamford
2. What was surprising about JCB’s customer research?
Its customers associated with the company with the following brand values : “yellow’,
‘digger’ and ‘durable’.
3. What sort of products do you think JCB developed as a result of its research?
JCB makes construction and agricultural equipment such as tractors, earth-moving
vehicles and loading machines.
4. Can you think of a similar example of brand-stretching in your country?
- Làm bài tập quyển 2 tr. 1-7.
- Vocabulary: Brand management
PRODUCT
A Match these word partnerships to their meanings
BRAND
a.
b.
c.
d.

the name given to a product by the company that makes it
using an existing name on another type of product
the ideas and beliefs people have about a brand
the tendency to always buy a particular brand

e.

how familiar people are with a brand

5 name
3 stretching
4 awareness
1 loyaltly
2 image

PRODUCT
f.
g.

the set of products made by a company
the use of a well-known person to advertise products
endorsement
h.
when products are used in films or TV programs

9 placement

i.
j.

6 launch
7 lifecycle

the introduction of a product to the market
the length of time people continue to buy a product

8 range
10

B Complete these sentences with word partnerships from Exercise A.
BRAND
1.
The creation of Virgin Cola, Virgin Air, Virgin Rail and Virgin Bride is an example
of brand stretching.

7


2.

Consumers who always buy Levi´s when they need a new pair of jeans are
showing brand loyalty.
3.
Not enough people recognize our logo; we need to spend a lot more on raising brand
image.
PRODUCT
1.
David Beckham advertising Vodafone is an example of product endorsement.
2.

A product lifecycle consists of introduction, growth, maturity and decline.
3.
The use of BMW cars and Nokia phones in James Bond films are examples
of products placement.
1. Loyalty [ J ] a. the name given to a product by the company that makes it.
2. Image [ C ] b. using an existing name on another type of product
3. stretching [ B ] c. the ideas and beliefs people have about a brand
4. awareness [ E ] d. the tendency to always buy a particular brand
5. name [ A ] e. how familiar people are with a brand
6. launch [ I ] f. the set of products made by a company
7. lifecycle [ D ] g. the use of a well-known person to advertise products
8. range [ F ] h. When products are used in films or TV programs
9. placement [ H ] i. The introduction of a product to the market
10. endorsement [ G ] j. the length of time people continue to buy a product
- Case study: Caferoma
BACKGROUND AND PROBLEMS 1. BACKGROUND
Caferoma
is a well-known coffee brand made by a company called
PEFD
, based in Turin, Italy.
Brand image
: Italian-style coffee, exclusive product for people who loveground coffee, has
strong and slightly bitter taste, cost more than almost everyother ground coffee product
on the market.
2. PROBLEMS
Market share has declined by almost 30%
Consumers have become less loyal to brands and more price conscious(they are rather
buying economy brands than premiere brands)
Supermarkets are selling own
‐

8


label brands at much lower prices
There are lot of ‘copycat’ products – cheaper Italian style brands that
have established themselves as a strong competition to high
end brands like Caferoma.
Caferoma’s brand image seems to be outdated, no longer exciting and
Unit 2: Travel
2.1. Reading: Air rage
Road ragers in the sky
By Derek Brown
Airline and their long-suffering customers are reporting a steep in air rage incidents.
Some incidents are apparently caused by problems which are familiar to many regular
travellers. One case reported from America stemmed from an interminable delay in
takeoff, when passengers were cooped up in their aircraft on the tarmac for four hours,
without food, drink or information. Mass unrest is less common than individual
misbehaviour, as in the case of the convict who recently went crazy on a flight, attacked
the crew and tried to open a door in mid-flight
The psychology of air rage is a new area of study, and there are almost as many
explanations as examples. Most analysts of the phenomenon blame alcohol, but many
people now think that the airlines are at fault. To cut costs, they are cramming over
more passengers into their aircraft, while reducing cabin crew, training and quality of
service, all of which increase passenger frustration. In addition, there is increasing
concern in the US about another cost-cutting exercise, which could seriously harm
passenger's health: cabin ventilation
Modern aircraft are equipped with sophisticated air conditioning devices - but running
them at optimum capacity burns up valuable aviation fuel. Many airlines routinely
instruct their flight crews to run systems on minimum settings. Campaigners for

improved air quality claim that this can lead to irritability and disorientation.
In the US, the soaring number of passenger complaints across a wide range of issues is
reflected in a number of new Internet sites which criticise the airlines and demand better
service. One of the sites is demanding an air passengers' Bill of Rights
Cabin and flight crews who are in the front line of the battle against disruptive and
dangerous in-flight behaviour, have called for stiffer penalties against the offenders.
Management have also called for legislation - while denying that its cost-cutting
practices have contributed to the problem. But there are some signs, in the US at least,
that the airlines are at last attempting to respond to customer dissatisfaction. Some

9


major lines have announced concessions to the most frequent complaint of all, and are
removing seats to make more room for their customers
2.2. Listening: A business traveller’s priorities
a. Answer these questions before you read the article
1. What was your worst experience when travelling by air?
2. Why do some people get angry when they are travelling on a plane?
b. Now read the article. Which of these statements are true about the article? Correct the
falses ones.
1. People in groups are more likely to behave badly on planes
2. Drink is often the cause of problems on board
3. Airlines can do little to improve air quality
Skills: Making arrangements on the telephone
a. Philippa Knight, Sales Director at The Fashion Group in NewYork, makes two
telephone call to Maria Bonetti, a fashion buyer in London. Listen and note: 1. The
purpose of each call and 2. The result
b. Listen to the first call again.
- Case study: Work, Rest and Play

ICON is a computer software company based in Los Angeles, USA. The Manager of its
company travel service is making arrangements for some senior managers to attend a
seminar in France. The seminar starts on Friday July 5th and ends on Sunday July 7th.
It will include meetings to discuss work problems and executive games to encourage
teamwork. This is important because the participants are of different nationalities. The
participants will expect to work hard, then relax, enjoy the amenities of the hotel,
explore the surrounding area and have a really good time. The Manager of ICON"'s
travel sendee wants to book a hotel which is both stylish and for money.
Stage l
The Manager of ICON's travel sen ice phones the Account Manager for Corp ,: Travel
at Universal Airlines. He asks Universal to propose three hotels in France for die
seminar. The Account Manager of Corporate Travel asks for more details about the
seminar and its participants. Manager. ICON's travel service: turn to page 140. Account
Manager, Universal Airlines: turn to page 147.
- Vocabulary: British and American English
Match the words and phrases below which have the same meanings. For each
pair decide which is British English and which is American English
1. subway
a. motorway
2. city centre
3. Carry-on baggage

b. lift
c. public toilet

10


4. one way
5. return

6. free way

d. schedule
e. economy class
f. single

- Language review: talk about the future.
We can use diffirent language form to talk about the future
1. We can use going to talk about what we intend to do and have already decided to do
2. We use will to talk something we have decided to do at the time of speaking
3. We use the present continuous to talk about a fixed arrangement
Unit 3: Organization
3.1. Reading: A successful organization
Walk into SOL City, headquartesrs of one of the northern Europe's most admired
companies, and it feels like you've entered a business playground. Located in a
renovated film studio at the heart of Helsinki, the office explodes with colour, creativity
and chaos. The walls are bright red, white and yellow; the employees wander the halls
talking on yellow portable phones. Lisa Joronen developed SOL Cleaning Service 11
years ago, out of a 150-year-old industrial empire owned by her family. SOL's
competitive formula has five key ingredients.
Few people dream about becoming a cleaner. But that doesn't mean cleaners can't find
satisfaction in their work. The key to satisfaction, Joronen believes, are fun and
individual freedom. Its cleaners wear red-and-yellow jumpsuits that reinforce the
company's upbeat image. SOL's logo, a yellow happy face, is on everything from her
blazer to the company's budget reports. Freedom means abolishing all the rules and
regulations of conventional corporate life. There are no titles or secretaries at SOL, no
individual offices or set hours of work. The company has eliminated allperks and status
symbols.
SOL's training programme consist of seven modules, each of wich lasts four months
and ends with a rigorous exam. Of course, there are a limited number of ways to polish

a table or shampoo a carpet. That's why SOL employees also study time management,
budgeting and people skills
Lots of companies talk about decentralising responsibility and authority. At SOL it's a
way of life. The real power players of the company are its 135 supervisors, each of
whom leads a team of up to 50 cleaners. These supervisors work with their teams to
create their own budgets, do their own hiring and negotiate their own deals with
customers.
Lisa Joronen believes in autonomy, but she's also keen on accountability. SOL is
fanatical about measuring performance. It does so frequently and visibly, and focuses

11


on customer satisfaction. Every time SOL lands a contract, for example, the salesperson
works at the new customer's site alongside the team that will do the cleaning in the
future. Together they establish performance benchmarks. Then, every month, the
customer rates the team's performance based on those benchmarks. "The more we free
our people from rules," Joronen says, "the more we need good measurments."
Laptops and cell-phones are standard equipment for all supervisors at SOL, freeing
them to work where they want, how they want. Inside the offices there's almost no room
for paper. So the company stores all critical budget documents and performance reports
on its Intranet, along with training schedules, upcoming events and company news.
3.2. Listening: Advising companies
Listen to the ecomments from diffirent places in the organization and write them down.
Then match them to the places
Skills: Socializing: Introductions and networking
Listen to the three conversations. Choose the correct
Greetingsomeone andtalkingaboutthepast Introducinganotherperson
- Case study: Auric Bank
Introduction In this case we get an entire scenario about how the Japan deflation set in,

what were the effects of the deflation on the economy as well as on the people of Japan.
It also mentions about the various reasons because of which Japan was in such a tight
grip of Deflation, Depression, Demographics and Debts Guides us through the steps
taken by the government in order to curb this deflation. Imparts a great knowledge to us
about the various economic terms like deflation, self-liquidating credit, Non-Self
Liquidating Credit and how the people and economy of a country is affected by these.
Free markets economies are subject to cycles. Economic cycles consist of fluctuating
periods of economic expansion and contraction as measured by a nation's gross
domestic product (GDP). The length of economic cycles (periods of expansion vs.
contraction) can vary greatly. The traditional measure of an economic recession is two
or more consecutive quarters of falling gross domestic product. There are also
economic depressions, which are extended periods of economic contraction such as the
Great Depression of the 1930s. From 1991 through 2001, Japan experienced a period of
economic stagnation and price deflation known as "Japan's Lost Decade." While the
Japanese economy outgrew this period, it did so at a pace that was much slower than
other industrialized nations. During this period, the Japanese economy suffered from
both a credit crunch and a liquidity trap....
- Vocabulary: Company structure
Match the words and phrases below to the correct place on the diagram
- Language review: Noun combinations

12


We can combine two or more noun several ways
NOUN COMBINATIONS
We can combine two or more nouns in several ways:
1. We use 's (possessive) to express a relationship between a person or organisation and
another person or thing.
Julia's desk

her husband's car
This very often means that the relationship can be expressed using "have".
Julia has a desk.
Her husband has a car.
2. When two (or more) nouns are used together, the first nouns function as adjectives
and describe the last noun.
a business card
a job description
a company credit card
a management training program
3. Two nouns are joined by "of" when the ideas are more abstract
the cost of living
independence of mind
4. Some compound nounds are written as one word.
database
answerphone
letterhead
headquarters
5. When compound nouns are used with a number in expressions of measurement, the
first noun is singular.a six-lane motorway
a four-day week
a five-year-old boy
EXERCISE
Choose the best noun combination in each group:
1. a) the meeting of today / b) today's meeting / c) today meeting

13


2. a) a letter of credit / b) a credit's letter / c) a letter's credit

3. a) a five-stars hotel / b) a hotel five-stars / c) a five-star hotel
4. a) technology of information / b) technology's information / c) information
technology
5. a) head company quarters / b) company headquarters / c) headquarter's company
Unit 4: Change
4.1. Listening: Managing change
- Maggie Miller is the Business Transformation Director of Sainbury’s, one of
the largest supermarket groups in the UK. She is talking about the programe of change
at Sainsbury’s. Listen to the first part of the interview.
- Now listen to the first part again and answer these questions.
1. Why did the new Chief Excutive want to change things at Sainsbury’s?
2. In which three areas was new investment necessary?
4.2. Reading: Change in retailing
US department stores launch counter-attack.
By Lauren Foster
As consumers demand better value and a more interesting and stimulating experience
while shopping, 5 department stores face a clear choice: adapt or die.
"My concern is that they will become retail museums", says Britt Breemer, chairman of
America's Research Group. "The bottom line is that they have to admit they are in
trouble and figure out some way to reinvent themselves"
This may help to explain why four times as many households visit discount stores as
department stores. Department stores face mounting competition from speciality
retailers and discounters, such as Wal- Mart and Target. Their steady loss of market
share may be partly because the concept was born in a different era, a time when, for
families, a trip to the stores combined shopping with entertainment.
What is needed, say retail experts, is a new approach. A typical example of this
approach working is seen at Selfridges. This UK group has recast itself from a "sleepy
1970s-style department store" into a retailing 10 experience fit for the 21st century, says
Wendy Liebmann, President of WWL Strategic Retail.
One of the main changes is that more floor space is rented to vendors, in what is

sometimes referred to as the showcase business model: vendors design their own booths
and are encouraged to be creative.
The Selfridges model, says Peter Williams, CEO of Selfridges, is about creating an
experience that is "new, interesting and different" where it is not just the product that is
different. He says the problem with US department stores is that they all look the same.

14


Arnold Aronson, a management consultant, believes Selfridges could be a prototype for
failing US department stores: "It has brought back excitement and novelty and is really
seducing customers by developing the right merchandise. In the right quantities at the
right time."
Federated, which owns Macy's and Bloomingdale's, appears to be moving In the right
direction. Forty-two stores are being upgraded with the latest components of its
"reinvent" strategy, including enhanced fitting rooms, convenient price-check devices,
comfortable lounge areas, computer kiosks and shopping carts.
The challenge department stores face is how to develop in a sector that is, essentially,
not growing. But if they adapt, many industry observers believe they will survive. "The
department store is not dead, it will live on," said Robert Tamilia, professor of
Marketing at the University of Quebec. "But it will not be the same animal it was
before."
Skills: Taking part in meetings
Four executives are discussing changes to company working practices. Listen to the
meeting and answer these questions.
1. Why does Nancy think the open-plan office is a good ideas?
2. Why are two of the people against introducing an open-plan office?
3. Why is Max against hot-desking?
Case study: Acquiring Metrot
Company Profile

Main activities
Recent developments
Reasons for Conerstone’s acquisition
Comment
Vocabulary: Describing change
- Write the verb from the box under the correct prefix to make words connected
with change. Use the good dictionary to help you. Some of the words can be
used with more than one prefix.
Language review: Past simple and present perfect
- We use the past simple for actions at a particular point in the past
- We use the present perfect for actions linking the present to the point on the past
Unit 5: Money
5.1. Listening: Rasing business capital

15


Hugh Campbell is the fouder of GP Capital, a London – based finace film which raises
money for entrepreneurs. Listen to the first part to the interview and complete the chart
Listen to the second part of the interview and answer these
questions.
According to Hugh, which three areas do venture capitalists look at when selecting
companies to invest in?
What type of market is good to invest in and why?
What helps some businesses to win against other companies?
What three questions would Hugh ask the management team?
Listen to the third part of the interview. What kind of company does
Hugh describe? \/Yhy did he lime this type of company?
Listen to the final part of the interview. Which of these statements
are true? Correct the false ones.

Hugh was offered the chance to buy fifty percent of an Internet business.
He didn’t invest because he thought the management team was weak.
The business did very well for a couple of years.
It was sold for twenty times its original value.
5.2. Reading: Reporting financial success
Before you read the articles decide which of these statements are true.
Both Wal-Mart and Target Stores are based in the UK.
Wat-Mart is the world’s largest retailer.
Target is not a competitor of Wat-Mart.
Artlcle 1
Wal-Mart
By Lauren Foster
Wal-Mart yesterday really surprised investors when it sounded a strong note of
optimism. This optimism is a marked turnaround from three months ago when WalMart warned about the strength of the recovery in US consumer.
Lee Scott, the CEO, said: "I am more optimistic about the year we have just started than
I have been in several years. I am not only optimistic about the economy and the
continuing strength of the housing market but also encouraged about Wal-Mart's
position."
Mr Scott was also encouraged by consumer spending, which he said was driven by
higher tax refunds and "eventually improvements in the jobs picture".
The world's largest retailer by revenues said 30 fourth-quarter profits rose 11 percent to
S2.7bn, or 63 cents a share, compared with $2.5bn, or 56 cents a share over a year ago.
Revenues for the quarter increased 12.2 percent to S74.5bn.

16


For the full year, Wal- Mart's profits jumped 13.3 percent to $8.9bn or $2.03 a share, up
from S7.8bn. Revenues increased 11.6 percent from $229.6bn to $256.3bn.
International sales were strong, contributing about S7bn to the near $27bn gain in

overall sales. Mr Scott said Wal-Mart had a good year but the international division had
an excellent year. He stressed that, while gross margin was better than originally
forecast, the improvement was thanks to the mix of merchandise, not higher prices.
"We are not raising 60 prices and have no intention of doing so," Mr Scott said.
Artlcle 2
Target Stores
By Lauren Foster
Target yesterday beat Wall Street expectations when it delivered a 21.1 percent rise in
quarterly earnings. Gains in Target's credit card business, as well as both its Target
Stores division and Marshall Field's stores, offset a small drop in pre-tax profit at the
Mervyns department store chain. Target has cultivated a more upmarket and styleconscious image than other discount retailers. It is the third-largest general retailer in
the US by revenues. Target yesterday said it saw continued price pressure from rival
Wal- Mart. For the fourth quarter, Target's profit rose to S832m, or 91 cents a share,
compared with $688m, or 75 cents a share, a year ago. Analysts had expected Target to
earn 87 30 cents a share, according to Reuters Research. Revenues for the quarter rose
10.7 percent to $15.57bn from $14.06bn, while same-store sales - from stores open at
least a year - rose 4.9 percent. Target said pre tax profit soared 18.5 percent at Target
Stores. At the department stores, which have been ailing, pre-tax profit jumped 15.6
percent at Marshall Field's but fell 0.3 percent at Mervyn's. Credit card operations
added $168m to pre tax profit in the recent quarter, up 11.7 percent from a year ago.
For the full year. Target's profits were $1.84bn, or $2.01 a share, up 11.4 percent from
$1.65bn, or $1.81 a share, the year before. Revenues rose 9.7 percent to S48.16bn from
$43.91bn, driven by new stores, a 2.9 percent rise in same-store sales and growth in
credit revenues.
Skills: Dealing with figures
Saying numbers
Saying numbers
Castudy: Angle Investments
Angle Investments is based in Warsaw, Poland. It is run by a group of rich people who
invest money in companies.

At present, it has 10 milion to spend and it has chosen four companies as potential
investment.
- Vocabulary: Idioms

17


Match the definitions z to 6 with the financial terms a) to I)
money owed by one person or organisation
to another person or organization
a period of time when business activity decreases
because the economy is doing badly
a) gross margin
b) recession
c) shares
d) debt /difference between the selling price of
- Language review: Decribing trends
We can decribe trends in English in diffirent ways. For example:
Verbs of change
Prepositions
Diffirent verb forms
Unit 6: Advertising
6.1. Reading: Successful advertising
1. What makes Nike's advertising tick
2. Phil Knight is prepared to take risks to give his company a sporting chance
Stefano Hatfield
Tuesday 17 June 200311.20 BSTFirst published on Tuesday 17 June
200311.20 BST
Phil Knight is notoriously interview-shy. The co-founder and chief executive
ofNike prefers to let his stable of superstar athletes and the most famous body of

advertising on the planet do his talking for him. Both speak very loudly.
However, he did agree to an interview in support of his being named Advertiser
of the Year at the 50th Cannes International Advertising Festival this week. He is
the first person to win the award twice, and his genuine pleasure in it speaks
volumes about why Nike produces such stand-out advertising.
"It's the most prestigious award in the world advertising industry, and I feel
pretty good about it," says Knight. "Especially winning it for the second time. It
is a huge honour for the company."
Given his noted reticence, he is a surprisingly loquacious interviewee - when he
wants to be. The only subject off limits was the US lawsuit on whether Nike's
corporate statements constitute advertising or not, and that only because it is "in
the courts".

18


So, what is Knight's view on the subject of the hour, David Beckham, who wears
Nike as his Manchester United strip, but has a personal deal with Adidas worth
about £4m a year? He is succinct, if a little tongue in cheek. "David Beckham?
All I'll say is I wish we had him. I'll tell you that." And that really was all he
would say.
But it is unlikely that Knight will be too happy about the prospect of Beckham
defecting to a rival - Real Madrid wears Adidas - in favour of Nike's United or
Barcelona teams. Knight has an absolutely clear and committed strategy to
celebrity athlete endorsement. He describes it as one part of the "three-legged
stool" which lies behind Nike's phenomenal growth since the early 1980s, with
the other two being product design and advertising.
He has built Nike's expansion into sport after sport from its athletics roots on the
back of sporting masters: Carl Lewis on the track; tennis's Jimmy Connors and
John McEnroe; Tiger Woods, who led Nike into golf; Ronaldo and the Brazilian

national football team; and Michael Jordan, who famously rescued the company.
From the beginning Nike has been prepared to take a gamble on sporting bad
boys others would not touch: Ian Wright, Eric Cantona and Andre Agassi spring
to mind. It was a strategy that began with Ilie Nastase, the original tennis bad
boy. The Romanian had the quality that has come to represent Nike and its
advertising: attitude.
"Part of our success is that we know who we are," says Knight. "We defined
ourselves. It is our job to provide inspiration and aspiration for everyone
interested in sports in the world. We believe that everyone who has a body is an
athlete."
It is a point taken up by the man Knight describes as his advertising "MVP", or
most valuable player. Nike's long-term adman, Dan Wieden, co-founder of the
Portland-based agency Wieden & Kennedy. Wieden is himself in Cannes this
week as president of the festival's film and print juries.
"Nike is the real deal. These guys are jocks. They are happiest in the locker
room. Phil Knight is driven by a love of sport but not necessarily by a love of
business," he says, explaining what makes Knight and Nike stand out from
competitors. And a brief look at the company's history proves what anyone who
has visited the Nike corporate campus at Beaverton outside Portland, Oregon,
knows immediately: these guys really are jocks.
In the 1950s Knight was a runner at the University of Oregon where his coach
was Bill

19


Bowerman, who later worked with the US Olympic track team. Convinced that
his athletes would do better in lighter running spikes than those made by the
dominant German manufacturer, Adidas, Bowerman designed and made his own
and his athletes started to break records wearing them.

After graduating with an MBA at Stanford University, where he wrote his thesis
on trainer manufacturing, Knight went on a world tour. He stopped in Japan,
where the dominant track shoe brand was Tiger. Knight set up Blue Ribbon
Sports on the spot, and began importing Tiger running shoes as a sideline to his
day job as an accountant.
In 1964 Bowerman and Knight each put $500 into the creation of the company,
whose storeroom was the Knight family's laundry room. By 1971 the duo wanted
to set out on their own, and the name and the swoosh were born.
Knight was determined to use famous athletes as endorsers, and because nearly
all Nike's salesmen were also athlete acquaintances of the founders there was a
genuine affinity between product and consumer.
After extraordinary growth built on the new "waffle" sole invented by
Bowerman, Nike grew to be number one trainer manufacturer in the US. But
Knight admits the company then lost its way as it failed to cope with its success.
It experimented unsuccessfully with expansion into non-athletic shoes, and lost
its number one position to Reebok in 1986, leading to the first lay-offs in the
company's history.
"It was a terrible thing," Knight recalls. "We can never lose our performance
base. You can wear some of our products mowing the lawn, but we cannot
concentrate on that or we would be dead."
Knight bet the company on a new air technology inside the trainer, launched it
with a David Fincher-directed ad which used the Beatles track "revolution", and
then marketed the Air Jordan brand on the back of then rookie basketball player
Michael Jordan. The black and red shoes were banned by the sport's governing
body, the NBA, for being "too colourful". Sales took off and the rest is history.
Unsurprisingly then, Knight is absolute in his belief in celebrity endorsement and
that Nike's athlete heritage helps land A-list stars. Paying top dollar is a bonus,
of course. Most recently there was LeBron James, the 18 year-old high school
basketball phenomenon signed by Nike in a seven-year $90m deal.
"You've got to remember that the others offered more," he says unapologetically,

referring to the unseemly auction with Reebok and Adidas.
Knight is in feisty mood: "Now we are the biggest in our industry, we have
become the target for a lot of unfair criticism. We don't like it but we are getting

20


used to it. Look at the World Cup Final of 1998 when Brazil lost to France and
everyone said it was because we made Ronaldo play, which of course is not true.
No one said anything when Brazil won last year in Japan and Korea."
Surprisingly, he is even prepared to discuss the decade-long criticism of Nike for
allegedly using cheap labour in Asia. He says Nike will not use advertising to
combat the negative publicity.
"We did briefly use advertising in 1998 but we thought it wasn't very effective,"
Knight says. "Instead we do a better job there by improving in the factories
themselves, working with the local and international NGOs and bringing in
journalists to show them this rather than just us ing advertising which only really
draws attention to the subject."
Which brings us to the subject of globalisation and the vexing question in the
world political climate of how American the brand can be. Nike uses a mix of
global ads such as "good v evil" and local advertising such as its famous poster
campaigns in the UK.
"We want the brand to stand for the same thing all over the world. We don't want
the brand to be different in Europe or Asia, but we know that is not easy,"
Knight responds. "I accept our Americanism with an asterisk. Our goal is to be a
global company. We will never duck our American heritage, and that's not a bad
place to be. As a friend of mine once said to me, America and sports is like
France and cooking."
During a 21-year partnership with W&K, Nike has created some of the world's
most attention-grabbing advertising: Nike "good v evil" and the recent $3m

Terry Gilliam-directed epic in cages on a ship, both for World Cups; "tag", last
year's Cannes grand prix winner; famous ads starring Pete Sampras and Andre
Agassi playing in the streets of Manhattan; Tiger Woods playing keepy-uppy
with a golf ball; and Brazil's team playing soccer at the airport terminal. It is a
remarkable body of work, both in its variety, daring and consistent originality.
At Nike there is a streamlined decision-making process that gives marketing
directors real power and a refusal to rely on market research pre-testing which so
often neuters edgier commercials. There is also the long relationship with one of
the world's best ad agencies, and what Wieden describes as "an honesty about
sport". Things only happen in Nike ads that sportsmen and women can really do.
What's more, Wieden adds, "Nike constantly wants us to surprise and amaze
them". This short statement really isn't the normal approach to advertising for a
major global corporation in caution-stricken 2003.

21


"My number one advertising principle - if I have one - is to wake up the
consumer," concludes Knight, with an absolute conviction that is arguably
unique among modern-day chief executives. "We have a high-risk strategy on
advertising. When it works, it is more interesting. There really is no formula.
And it just doesn't matter at all without things like distribution in place too. It
can't just be about getting noticed. But you can't have a great ad that just shows
product and doesn't say who you are."
6.2. Listening: Planning advertising campaigns
Jeremy Thorpe Woods, head of planning at Saatchi, a leading advertising agency
based in London, talks about advertising campaigns. Listen to the first part of the
Inteview and answer these questions.
1. What does Jeremy say is the most important thing about advertising nowadays?
2. What are the key elements of a good advertising campaign, according to Jeremy?

- Vocabulary: Advertisement media and methods
a. Newspapers and TV are advertising media. Can you think of others?
b. Look at the words in the box below. Label each item 1 for advertising media, 2
for methods of advertising or 3 for verbs to do with advertising.
Directories
Run
Press

Persuade
Mailshots
Internet

Publicse
Promote
Slogans

Sponsorship
Cinema
Television

- Language review: Articles
a/an: We use a or an before singular countable nouns
a: We use a before consonants
an: We use an before vowel sounds.
The: We use the when we think our listener will know what we are talking about.
- Skills: Staring presentations
A. Decide whether each expression in the Useful language box is formal or
infornal. Write F (formal) or I (informal)
B. Listen to these two presentations and check your answers to Exercise A
- Discussion: Good and bad advertisements

A chain of eight restaurant in your country
` - The restaurant are in prime locations.
- Low fat and vegetarian dishes served in a clean, simply furnished, non-smoking
environment
A perfume
- An upmarket perfume

22


- Produced by a well-known fashion house
Unit 7: Cultures
7.1. Listening: Cultural awareness
a. Listen to the first part of an interview with Jelf Toms, Marketing Director at the
International Briefing Centre at Farnham Castle, Surrey. He talks about training courses
which prepare people for doing business internationally. Complete the list of issues that
he mentions.
b. Listen to the third part of the interview. Which two cultural aspects does Jeff metion
and what does he say about them?
Skills: Social English
- Listen to the conversation between two people who have recently met. What is
wrong? How can it be improved?
- In what business situations would you use the words and expresstions below? Dicuss
your ideas with a partner.
Congluations!
Cheers!
Make yourself at home
Help yourself
I don’t mind.
Excuse me

Sorry
It is on me
I’m afraid…
Please
Could you…?
That sounds good
7.2. Reading: Cultural advice
Article A: Italy
Conversation: Lively conversation is common in Italy. Welcome topics of conversation
include Italian architecture, art and films, sports (especially football), opera
and praising the hospitality of the country! It's best to avoid criticising Italian culture,
even if yout Italian counterparts are doing so.
Gift-giving: Don't give a business gift until you receive one. Your gift should be a wellknown brand name. Gifts of alcohol or crafts from your own country are often good
choices. Other possible gifts are fine pens, a framed print or picture, silver key rings or
calculators. Avoid giving gifts showing your company's logo.

23


Entertaining: Hospitality plays a key role in Italian business culture. Regardless of how
you feel, refusing an invitation of any kind, may give offence. The business breakfast is
almost unheard of. Rare exceptions may be found in the major cities. Business dinners
involve only a small, exclusive group. If you are the host, check with your Italian
contact before making any invitations. Lunch is still the main meal of the day in most
areas of the country. It is usually served after 12.30 pm and often has many courses.
Article B: United Arab Emirates Conversation: The hosts usually set the subject of
conversation. They will normally begin with polite enquiries (How are you? How are
you enjoying your visit? etc.) If others arrived before you, the hosts will often tell you
the subject of the previous conversation and invite you to contribute.
Gift-giving: Giving gifts in UAE is more complex than in other countries. This is partly

because of the mixture of nationalities: each nationality has different tastes and
customs. Also, nearly everything can be purchased in the UAE less expensively than
elsewhere in the world. As agesture of respect, your host is likely to to open and
carefully examine your gift in your presence. It is important that your gift is the best
you can afford to avoid embarrassment. Entertaining: Sharing a meal is considered the
best way for people to get to know one another. Locals often entertain at home but they
will accept a foreigner's invitation to a hotel or restaurant. Hospitality in the UAE is
very important but should not be interpreted as future commercial success. There are
local customs to be aware of, for example, it is considered bad manners to either eat or
offer something with the left hand.
7.3. Vocabulary: Idioms
1. Choose the most appropriate word in the box to complete the idioms in the sentences
below
Eye
Foot
Water
Fire
Ice
End
2. Listen to eight people using the idioms from Exercise A and check your answer.
- Language review: Advice, obligation and necessity
Adivice
- We can use should and shouldn’t to give or ask for advice
- For strong advice we can use must or mustn’t
Obligation and necessity

24


- We often use must when the obligation comes from the person speaking or

wrting.
- We use mustn’t to say something is prohibited or is not allowed
- Case study: Visitors from China
Toyworld is a profitable toy retailer based in Seattle, US, with subsidiaries in over 30
countries. Toyworld buys its product from supplier all over the world.
Mr Lee Chung, head of a toy manufacturing firm based in Guandong, China, is going to
visit the Toyworld subsidiary in your country. Mr Chung will be accompanied by his
Export Manager, John Wong. The purpose of the visit is to get to know Toyworld’s
management better and learn more about the company. He may set up a joint venture
with Toyworld if he has confidence in them and considers them to be a suiable parner.
This is Mr Chung and Mr Wong’s first visit to your company, and to your country.
Starting up
1. What do you miss most about your own country or cultures when you go abroad?
2. What is cultural awareness important for businesspeople? Give for examples.
3. Do you think cultures are becoming more like? Is this a good thing or a bad thing?
Modals og advice obligation and necessity
Look at this advice for businesspeople about moving from the UK to another country.
Choose the correct alternative from the brackets
1. Visitor (must/ don’t have to) register with the police within one week of arriving.
Anyone who does not can be fined $1,000
2. It is very difficult to find somewhere to live. You will probably live in hotel for the
first few weeks while you find somewhere.
Unit 8: Employment
8.1. Reading: Retaining good staff
Motivating high-calibre staff
An organisation's capacity to identify, attract and retain high-quality, high-performing
people who can develop winning strategies has become decisive in ensuring
competitive advantage.
High performers are easier to define than to find. They are people with apparently
limitless energy and enthusiasm, qualities that shine through even on their bad days.

They are full of ideas and get things done quickly and effectively. They inspire others
not just by pep talks but also through the sheer force of their example. Such people can
push their organisations to greater and greater heights.

25