Personal satisfaction: the four c's

PERSONAL SATISFACTION: THE FOUR C's

 

1. For start-up businesses, smaller enterprises, or businesses that are heavily influenced by one or two key members of management, issues of personal satisfaction can be a central element in influencing long-term success.

2. Thus, you must evaluate and consider your personal goals when deciding upon the course of your business development. For most entrepreneurs, the Four C’s can sum up these goals: Control, Challenge, Creativity and Cash.

3. Control. How much control you need *to exercise on a day-to-day basis¹helps determine how large your company can be. If you are unwilling to delegate or share authority, your business should be designed to stay small. Likewise, if you need a great deal of control over your time (because of family or personal demands), a smaller business without rapid expansion is more appropriate.

4. If your company is large, put mechanisms in place and structure management reporting systems to ensure that as the company grows, you continue to have sufficient direction over development to give you personal satisfaction. Understand the nature of control your funders will have and *be certain you are comfortable with these arrangements².

5. Challenge. If you are starting or expanding a business, *you are likely to be a problem-solver and risk-taker, enjoying the task of figuring out solutions to problems or devising new projects³.

6. It is important to recognize the extent of your need for new challenges and develop positive means to meet this need; otherwise, you may find yourself continually starting new projects that *divert attention from⁴your company’s overall goals. As you plan your company, establish personal goals that not only provide you with sufficient stimulation but advance the growth of your business.

 

7. Creativity. Entrepreneurs want to leave their mark. Their companies are not only a means of making a living, but also a way of creating something that* bears their stamp⁵. That’s why many businesses carry the founder’s name. As you develop your company, make certain it reflects your larger values. You’ll want to shape your business so it is not just an instrument for earning an 'income but a mechanism for maintaining creative stimulation and making a larger contribution to society. But don’t overpersonalize your company, especially if it is large. *Allow room for others⁶, particularly partners and key personnel, to share in the creative process.

 

8. Cash. Understand how your personal financial goals have an impact on your business plan. For instance, if you need substantial current income, you may need investors so that you have sufficient cash to carry you through the lean start-up time. You will most likely have to share equity, and the business must be devised for substantial profit potential to reward those investors appropriately. If your current income needs are less exacting, but you want larger long-term financial rewards, you may be able to forego giving up a piece of your company to investors and instead look for loans of smaller amounts.

 

2. Explanations to the text

1... to exercise on a day-to-day basis – зaнимaтьcя eжeднeвным дeлoм

2... be certain you are comfortable with these arrangements – yдocтoвepтecь,

чтo вac ycтpaивaeт тaкoe пoлoжeниe.

3... you are likely to be a problem-solver and risk-taker, enjoying the task of

figuring out solutions to problems or devising new projects – вaм пpидeтcя

рeшaть пpoблeмы и идти нa pиcк, пoлyчaя yдoвoльcтвиe oт нaxoждeния

peшeния или разработки новых проектов.

4... divert attention from... – oтвлeкaть внимaниe oт...

5... bears their stamp – нeceт нa ceбe иx пeчaть, cлeд.

6... allow room for others – остaвьтe мecтo для дpyгиx....

3. Key vocabulary / expressions

 

carry through – вести, провести

challenge [´t∫ælәnʤ] – n вызов, риск

equity [´ikwiti] – n имущество

a great deal of – orpoмнoe кoличecтвo

issue – n проблема, результат, эмиссия, ценные бумаги

key personnel [ֽpз:sә´nel] – основной персонал

lean [li:n] – adj скудный, унылый; худой

make certain – убеждаться

management reporting systems – информaциoнныe cиcтeмы yпpaвлeния

a means of –средство

4. Ask five Special questions to the text.

5. Give equivalent Russian phrases to the following English ones

to share in the creative process________________________________________

an expanding business______________________________________________

to allow room for others_____________________________________________

personal or family demands__________________________________________

to devise a new project______________________________________________

substantial current income ___________________________________________

________________________________________________________________Lesson 9. Personal satisfaction:The four C’s

 

6. Translate from Russian into English

1. Он ycпeшнo занимается своим небольшим дeлoм уже несколько лет.

2. Прежде чем нaчaть выпycк нoвoй пpoдyкции, компания пpовела

обширное иccлeдoвaниe pынкa.

3. Ero отвлекли от работы с бизнес плaном.

4. Я собираюсь обсудить с вами стоимость имущества компании.

5. Информационные системы управления широко используются в

бизнесе.

6. Неудача сегодня – это часть дороги к успеху завтра.

7. Финансовая грамотность позволяет видеть силу и слабость своего

предприятия.

 

Prepositional phrasal verbs.

Think of a different meaning of the verb due to the prepositions after it

take

1. When he heard the news, he didn’t take it at first.

2. The plane took off two hours ago.

3. When the President is away the Vice-President will take over his duties.

4. You mustn’t take on more work than you can manage.

5. I really took to Mexican food while I was in the States.

6. I feel much fitter since I’ve taken up jogging.

7. He takes after his father as far as his interest in business is concerned.

8. Word formation (Different ways to construct the words or new notions)

8.1 Find synonyms to the following words:

control, evaluate, will, allow room.

8.2 State to what part of speech the following words belong:

important, available, particularly, specific, prohibitively, personal, merchandise, observation, perception, possible, provide, highly, appointment,

competitor, casual, decide, participant, consumer.

8.3 Translate the words keeping in mind their suffixes and prefixes. Memorise

The words with the same stem

´person – ´personal – ´personage – perso´nality – per´sonify – ´personable –

´personally – personofi´cation – ´personate – overpersonalize

 

9.Speaking Practice.A FOREIGN COUNTRY

9.1 Read and translate the sentences. Where are these places?

1. The Twelve Apostles are high rocks in the sea area of the continent.

2. Canberra is more than seventy years old.

3. There are embassies, parks, cycling and walking tracks, and lakes in many parts

of Canberra.

4. Opera House with its striking architecture is the symbol of the city together

with the bridge across the natural harbour.

Watch video. Discuss the topic “AUSTRALIA” with your partner using such words as

Australia, aborigines, Aussie, Sydney, capital, Canberra, Melbourne, Queensland, Brisbane, Perth, monsoon, captain James Cook, antithesis, northern hemisphere, southern hemisphere, the Victorian Alps, New South Wales, an Aussie, Great Barrier Reef, Ayers Rock, the Twelve Apostles, the Tasmanian Sea, the Coral Sea, the Arafura Sea, the Timor Sea, marsupial [mα:'sjupiәl], emu, cockatoo [kokә'tu:], kangaroo, wallaroo, wallaby, platypus, echidna, possum, koala, dingo, wómbat, eucalyptus, bushes, gum tree, the governor, the British links, the queen, etc.

Tell the group about Australia.

Essential grammar (essential Grammar Appendix)

ATTRIBUTIVE CLAUSES

11. Translate the following sentences and state the function of THAT, WHO, WHICH, WHERE, WHEN

1. The most important information that you need will not be available from any

published source.

2. It gives you insight into factors, which affect your own business.

3. There are so many factors that affect the health of a business.

4. Respect the people who answer to you.

5. I remember the day when we first launched this new widget.

6. The building where we work is new.

 

12. Analyze and translate the following ATTRIBUTIVE SENTENCES

1. For start-up businesses, smaller enterprises or businesses heavily influenced

by one or two key members of management, issues of personal satisfaction

can be a central element in influencing long-term success.

2. A popular form of market research is the focus group, a small group of people

brought together to discuss a product, business concern or service in great

detail.

3. Those in related businesses often know about conditions affecting your

company.

4. Try talking to the people in the same type of business as yours in a different

city.

5. Here are some sources to consider for your market research.

6. Here are a few tips to keep in mind about the information you gather.

13. Change the following attributive clauses according to the given model and translate the resulting sentences

A

Model: This is the laboratory, which we attend twice a week.

This is the laboratory we attend twice a week.

1. This is the device, which our teacher has constructed.

2. The student whom the English teacher is speaking to joined the English Club

this term.

3. The subject that they have chosen for the discussion was connected with

management.

4. At the discussion there was a new member of the staff whom we had never

met before.

B

Model: The laboratory in which they were working was large.

The laboratory they were working in was large.

 

1. The Business Centre in which Nancy was allowed to work had just been

started up.

2. The staff of the college at which Olga arrived was not numerous.

3. The man to whom Pat was introduced offered her to become his assistant.

4. John was offered to work with the scientist of whom he had heard much

before.

Self-Study

 

Cumulative Review Exercises

Translate the sentences

1. The larger the group sampled for information or the more respected the

organization that conducted the research, the more trustworthy the members

you collect.

2. You should talk with as many people as possible that can provide you with

business information.

3. It’s the people on the line – in the plant and out with the sales force – that are

doing the work that makes the company run.

4. Some of the most important information you need will not be available from

any published source.

5. The amount of information you can garner from personal observation is

limited.

6. Local colleges and universities with business schools often have professors

and staff who are knowledgeable in business.

7. Almost everyone has some experience that can be turned into a successful and

thriving business.

8. Thorough knowledge of the environment of the organization in which the

practitioner works is a prerequisite to public relations effectiveness.

 

Time for fun

15. students’ slips of the tongue and pen. Correct the sentences

1. Washing what goes on in other businesses similar to yours gives you insight

into factors affecting your own business.

2. If I have not enough spear time I will fire a market research firm.

3. I am the wise-president of this company.

4. The last face is not inevitable.

5. My consumers can buy anybody for a child.

6. In the bathroom I watch my face and brush one’s tooth.

16. Compile as many words as you can with the letters of the word

Overpersonalize

Remember: this is a very good opportunity to revise your active vocabulary!

________________________________________________________ Lesson 10

 

1. Read the text

Prepositional phrasal verbs

Look

1. The people must be taught to look after their own property.

2. I looked for my keys everywhere but I couldn’t find them.

3. The scientists are looking into this phenomenon for some years now.

4. You should better look up the spelling of the word in the dictionary.

5. He’s always looked up to his elder brother.

6. Look through the contract carefully before signing it.

7. I’ll look in to see you next week.

8. Look out! There is a taxi coming.

 

_____________________________________________________Lesson 10. HOW TO BETTER CONDUCT A MARKET RESEARCH

 

5. Phonetic drill.

Word formation

Speaking practice.

Cumulative Review Exercises

Serendipitiously

Remember: this is not a burden, but a great opportunity to revise your active vocabulary!

Read the text

Phonetic drill.

Prepositional phrasal verbs

Speaking practice.

Read the text

Explanations to the text

1. Naturally, you’ll be tempted to paint the brightest picture possible… – Ecтecтвeннo, вы иcпытaeтe иcкyшeниe нapиcoвaть как можно бoлee яpкyю кapтинy…

2. Bringing your business concept into focus. – Bыдвигaя cвoю кoнцeпцию (идeю) бизнеса.

3. Key vocabulary / expressions

be tough [ tÙf] – быть cтoйким, yпopным

compile [kәm´pail] – v собирать

conceive [ kәn´si:v] – v пoнимaть, пocтигaть

credence [´kredәns] – n дoвepиe

drive smb. out – изгнать, выдворить

formidable [´fo:midәbl] – adj. труднопреодолимый

get a foothold – проникнуть, протиснуться

inventory [ in´ventәri] – n товар, инвентарь

make expenditures [iks´pendit∫әz]– нести расходы

overheads – n накладные

retail [ri´teil] – v продавать(ся) в розницу

shrink [∫riηk] – v (shrank[∫ræηk], shrunk [∫rÙηk]) coкpaщaтьcя

tips – n свeдeния; совет; be at one’s fingertips быть в чьем-л. распоряжении

trustworthy [´trÙstֽwз:θi] – adj. достойный дoвepия

vastly [´va:stli] – adv. значительнo, в знaчитeльнoй cтeпeни

vulnerable [´vÙlnәrәbl] – adj. уязвимый

Phonetic drill.

[∫] sociology, special, official, financial, ancient, depreciation

[s] process, concept, perception, specific, recipient, license, medicine

Speaking practice.

7.1 Do you agree with the definitions of some key terms used throughout the world in your profession? From the dictionary of business TERMS (barron’s business guides)

Concept* test is a research whose primary objective is to test an idea or concept that has been developed. Concept testing is done to assess effectiveness of the advertising campaign in reaching its effectiveness.

Essential grammar

12. Translate the sentences with the OBJECTIVE INFINITIVE CONSTRUCTION

1. We know the industries don’t remain static; they may change dramatically

over time.

2. They consider the production of the soft drink to be stable, and few major

companies dominate the field.

3. The experts watched the bottled waters to be in a developing industry with lots

of competition and variation.

4. We believe the industries to have distinct attributes in different stages of

maturity.

5. You must let the reader know about that.

6. We expect this scientist to be working at this scientific problem.

7. I have never heard anyone give so much information in one report.

8. I know him to carry out the research in the field of economics.

9. The operator made the students repeat the operation several times.

 

13. Translate the sentences with the sUBJECTIVE INFINITIVE CONSTRUCTION

1. Evaluating your industry is certain to increase your own knowledge of the

factors that contribute to your company’s success.

2. Evaluating your industry is believed to show potential investors that you

understand external business conditions.

3. An industry is sure to consist of all companies supplying a similar product or

service.

4. Your economic sector seems to be a broad category into which your industry

or business falls.

5. An economic sector seems to be large and diverse.

6. Your business is believed to vary dramatically from overall sector

performance and trends.

7. This comparison is likely to give you an idea of the current health of your

industry.

Self-Study

CUMULATIVE REVIEW EXERCISES

14. Translate the sentences

1. Don’t allow the extremes of your emotions to dictate your assessment of the

competition.

2. Much of your analysis can be based on observable changes in demographics

and customer behavior.

3. To help provide guidance in ethical decisions, both PRSA and the IABC have

established codes for ethical behavior.

4. In working for the Rockefellers, Lee tried to humanize them, to feature them

in real-life situations such as playing golf, attending church, and celebrating

birthdays.

5. In an environment of rapid social change every organization must change or

die.

6. Public relations practitioners should be part of the management mainstream.

7. A full understanding of all communication processes and a complete

acquaintance with the methods of management are crucial to the successful

practice.

8. You may be able to estimate the approximate size and growth of your

company by evaluating the largest companies in your field.

9. The first thing for an entrepreneur to do is to start writing the Business Plan.

 

TIME FOR FUN

Environment

 

Remember: this is not a burden, but a great opportunity to revise your active vocabulary!

SOME PHILOSOPHY

ADVERTISEMENT

Remember: this is not a burden, but a great opportunity to revise your active vocabulary! By the way, what does the word mean?

 

 

________________________________________________________ Lesson 13

Read the text

 

Explanations to the text

1. Your fundamental goal is to convey realistic optimism and businesslike enthusiasm about your prospects. – Baшa ocнoвнaя цeль - выpaжaть нacтoящий oоптимизм и дeлoвoй энтyзиaзм oтнocитeльнo cвoиx плaнoв нa бyдyщee.

2...as if you were speaking to the reader in person... –... кaк ecли бы вы paзгoвapивaли личнo c читaтeлeм.

3...a statement of Mission. –... излoжeниe цeли (миссии).

 

3. Key vocabulary / expressions

be chatty ['t∫æti] – быть бoлтливым

convey success [ sәk'ses] – дeмoнcтpиpoвaть ycпex

eliminate [i'limineit] – v устpaнять

handle [hændl] – v выполнять, обрабатывать

prudent ['pru:dәnt] – adj. блaгopaзyмный, пpeдycмoтpитeльный

quote [kwout] – v ссылaтьcя (нa кoгo-л.), цитиpoвaть

self-promotion [ֽself prә'mouòn] – n самореклама

terrific [tә'rifik] – adj потрясающий

vicinity [vi'siniti] – n округа, район, соседство

widget ['wiʤәt] – n устройство, прибор

 

_________________________________________________Lesson 13. WHAT LANGUAGE TO USE FOR CONVEYIMG SUCCESS

Phonetic Test.

Prepositional phrasal verbs

Give

1. One of the new entrepreneurs won $100,000 in lottery and gave it all away.

2. The author refused to give away any secrets about the ending of his book.

3. Please make sure you give me my pen back.

4. This is the end of the test. Please give in your papers now.

5. The government refuses to give in to terrorism.

6. Children helped to give out presents to the old people.

7. My doctor has told me to give up eating cakes and sweets.

8. I had to give up smoking when I got married.

7. Write out from the text all the international words. Give Russian equivalents to them without using a dictionary

Word construction.

8.1 Translate the following words keeping in mind the meaning of prefix self- means само-

self-promotion, self-conceit, self-defence, self-criticism, self-government,

self-educated, self-possession, self-respect, self-support, self-made

GERUND

11. Translate the following sentences paying attention to the forms and functions of the gerund

1. We know of his having spent more than 10 years of scientific thinking before

finally formulating the ideas on paper.

2. We have heard of his having been suggested to put down his ideas on paper,

which he did.

3. The aim of his experimenting is increasing the speed of calculations.

4. We know of this electrical engineer’s having designed a new type of a digital

computer.

5. Having proved the validity of his theory, he went on working at it.

6. Original scientific thinking is very important for every researcher.

7. Without proper understanding the major laws of economics it is difficult for

the students to take part in the research.

8. On receiving wrong results one must repeat the experiment.

9. By repeating experiments one gets more data that helps arriving at right

conclusions.

12. Translate the following sentences paying attention to the gerund phrases

1. Before launching a new product you should find the market for it.

2. When starting or expanding a business we must keep in mind our funding

sources.

3. By evaluating and establishing the procedures necessary to run your business

from day to day, you can run a successful business.

4. The position of the company depends on setting the goals and objectives.

5. While developing your business plan you’ll increase your understanding of

the forces that have an impact on your business.

 

_________________________________________________Lesson 13. WHAT LANGUAGE TO USE FOR CONVEYIMG SUCCESS

 

6. We knew nothing of his having undertaken market research in new field.

 

Into Russian.

writing-table, computing machine, drawing-table, measuring devices, building

materials, dining-room, reading-room, looking-glass, adding machine.

 

Cummulative review test

17. Translate the sentences.

1. Newton’s having established the law of inertia has provided scientists with a

means for setting satellites on proper orbits.

2. While he was studying at Cambridge his favourite occupation was

experimenting.

3. The Online Small Business Workshop is a highly-detailed and online course

on arming new business owners with the tools they need to start a new business.

4. When gathering information for your business plan, you can spend considerable

time learning about your market.

5. Having recognized the need of your market you could develop positive means

to meet this need.

6. For improving their knowledge in any particular field of science the students

use the materials available in the reading-room or in the library.

7. We also included an opening budget, cashflow projections, a summary of return

on investment, a furnishing’s and equipment list, a map of the area, and a site

analysis based on Planning Department information, on new and renovated

housing in the vicinity.

8. The American public relations experience dates back to the founding of the

Republic.

9. To create a quiet port basin and provide safe accommo­dation for the ships the harbour

should be protected from the wind and wave actions by special engineering works if

shel­tering has not been provided by nature.

10. A person can’t be successful without clear understanding of goals in his life.

11. It goes without saying.

12. The term “engineering” means the art of designing, construction or using

engines.

13. I’m seriously thinking about buying a house for my family.

14. There are embassies, cycling and walking tracks and lakes in many parts

of Canberra.

15. Opera House with its striking architecture is the symbol of Sydney together

with the bridge across the natural harbour.

16. In working for the Rockefellers, Ivy Lee tried to humanize them, to feature

them in real-life situations such as playing golf, attending church, and

celebrating birthdays.

 

THE EXECUTIVE SUMMARY

 

Put

1. We`ve put some money aside for a holiday.

2. Please put your toys away now, children.

3. They`ve put the wedding off for a month.

4. When I heard how difficult the exam was, it put me off entering for it.

5. Why don`t you put a thicker jumper on?

6. He eats like a horse but never puts on weight.

7. Firefighters managed to put the fire out after two hours.

8. Could you put me through to the Manager, please?

9. My sister will put me up while I`m in London.

10. I will not put up with your rudeness!

 

8. Read the words, paying attention to different pronunciation of letters ch

 

greek french

· character ['kæriktә] · orchid ['o:kid] · chemistry ['kemistri] · cholera ['kolәrә] · choral ['kor(ә)l] · christian ['kristjәn] · chronicle ['kronikl] · choir [kwaiә] · chlor [klo:r] · chiropody [ki'ropәdi]

· charade [òә'ra:d] · charlatan ['òa:lәt(ә)n] · chassis ['òæsi] · chauffeur ['òәufә] · chef [òef] · chemise [òi'mi:z] · chic [òik] · champagne ['òæm'pein] · challet ['òæli] · sachet [sә'òei]

Word formation

Analyze the suffixes and translate the words. Add more from the text

-ness: weakness, competitiveness, readiness, happiness, eagerness, mightiness

__________________________________________________________

-ment: investment, management, deployment, requirement, development

__________________________________________________________

-tion: evaluation, position, destination, competition, direction, information

__________________________________________________________

Imagine that you are making a business plan for your own company. How can you give the reader confidence in your competitiveness in the sphere of your activities? You may use the previous texts if you need.

11. home reading

CUMULATIVE REVIEW EXERCISES

14. Translate the sentences

1. The trees were sheltering the early people from severe north winds.

2. Failure to control natural forces led to immediate disasters or gradual degradation of the environmental.

3. Myths concerned with basic human need for water are widespread in various cultures.

4. The oldest Neolithic settlement ever excavated, and the oldest conserved wooden boat are dated back to the 4^th millennium B.C.

5. The bridge will not sustain heavy loads.

6. Children need a happy home environment.

7. The passengers were informed by radio about the flight being delayed for the

nearest two-three hours.

8. The wind had fallen; the moon was shining over the quiet sea.

9. Pepsi-cola developed a one-way plastic biodegradable soft-drink bottle.

10. The basic concept of the competition is responsiveness to customers.

11. As you begin your competitive assessment, keep in mind that you need

to evaluate only these competitors aiming for the same target market.

12. One of the worst statements you can make in your business plan is ”We have

no competition.”

 

__________________________________________________________________________Lesson 14. THE EXECUTIVE SUMMARY

 

13. The problem being easy, the students solved it at once.

14. Some of our students want to study French, the rest preferring to study

English.

 

Check yourself.

Time for fun

16. Compile as many words as you know with the letters of the word

DEMOGRAPHICS

Remember: this is not a burden, but a great opportunity to revise your active vocabulary! By the way, what does the word mean?

17. Read the following proverbs and find their Russian equivalents. In what situations can you use them? Make your own situations.

1. Experience is the best teacher.

2. Politeness oils the wheels of life.

3. Fortune favours the brave.

4. As is the workman so is the work.

5. What is worth doing is worth doing well.

6. Where there is a will there is a way.

7. A good beginning is half the battle.

8. Wishes don’t wash dishes.

9. There is no smoke without fire.

10. We never know the value of water until the well is dry.

11. Time is the best healer.

12. Health is the greatest wealth.

13. Early to bed, early to rise makes the man healthy, wealthy and wise.

14. There is no bad weather there are bad clothes.

 

 

________________________________________________________ Lesson 15

1. Read the text

The evaluation of INDUSTRY

1. No company operates in a vacuum. Every business is a part of a larger overall industry. A business may intersect two or more industries. For instance, you may produce electronic devices utilized in new and used automobiles. Thus, you are part of three industries: electronics, new automobiles, and the automobile after-market. An industry consists of all industries supplying a similar product or service, other businesses closely related to that product or service, and supply and distribution systems supporting such companies.

2. Maturity. Industries don’t remain static. They may change dramatically over time. Generally, the life cycle of an industry ( or the development stages) comprises four phases:

· new;

· expanding;

· stable;

· declining.

3. New industries provide excellent entrepreneurial opportunities. Smaller companies are well-suited to respond to rapid changes, and larger companies have not recognized the field’s opportunities. The market, however, is limited as customers are not yet comfortable with the product or service.

4. Expanding industries enjoy rapidly growing markets as customers begin to recognize the need for the product or service. Competition is brisk as well-funded companies *begin to enter the field.¹ All companies are vulnerable at this stage, even those that looked stronger when the industry was new.

5. Stable industries have arrived at a plateau with markets leveled off at a reasonably high level. The rate of growth is slow, and customers maintain strong brand loyalty. It is relatively difficult to enter these industries.

6. Declining industries result from technological, demographic, and sociological changes, and from overwhelming foreign competition. Corporations leave the field or go bankrupt. The few major companies *fight to survive by stealing remaining customers from weakened competitors². This last phase is not inevitable. Many long-standing, stable industries show no sign of decline.

7. Industries have distinct attributes in different stages of maturity. Even

industries that seem closely related are *quite dissimilar based on development stage³ . For instance, the soft drink industry is relatively stable, and a few major companies dominate the field. Little room exists for newcomers, and it would be

extremely expensive to try to compete. On the other hand, bottled waters are in a

developing industry with lots of competition and variation.

 

8. Sensitivity to economic cycle. Some industries are heavily dependent on strong economies, either nationally or internationally, and it is crucial to understand how vulnerable your industry is to economic downturns. Construction, large consumer items (autos, furniture, etc.), and tourism all suffer substantially when the economy is in recession. Industries dependent on new business formation or business expansion, such as office and technical equipment, also suffer in poorer times.

9. Such industries as discount department stores and used car dealerships are countercyclical, doing relatively better in poor economies than in strong ones. And some industries, such as personal care products and low-cost entertainment, are relatively immune to economic cycles.

10. If a business is located in a smaller community that is heavily dependent on one industry or one major employer, one should consider the effect of the economy on that industry or company and thus, one’s own business.

Considering the economic conditions or cycles that affect business helps a businessperson anticipate and plan for difficult times.

 

11. Seasonality. For many industries, certain times of the year produce higher revenues than others. For example, toy companies are dependent on Christmas sales, while summer is the big season for bathing suit manufacturers. But many other industries also fluctuate throughout the year.

12. Most retail businesses and consumer products are affected by the Christmas season, which may account for one-third to one-half of all sales. This is what the practitioner, Charles Huggins, President of See’s Candie says:“Forty-seven to forty-eight percent of our volume occurs around Christmas. We keep historical records of our sales volume and timing, so we know what the sales pattern is likely to be, both in the stores and when mail order and quantity orders will be placed. If Christmas is on a Tuesday this year, we go back and look at the last time it fell on a Tuesday, to see sales volume by day of the week, so we’ll know what to expect the Friday before Christmas. We put together a ‘game plan’, a complete schedule, so *we can keep fresh product churning⁴.”

13. Spring is an important season for any wedding associated industry. Tourism-related businesses may depend heavily on the summer. And products and services that are nonessential may actually suffer during the Christmas season, as consumers reduce nongift expenses.

14. When preparing your financial forms, it is imperative that you understand and account for the seasonal factors that have an impact on your income and expenses. Your product may be sold in December, but you may have to pay for raw materials in June.

________________________________________________________________________Lesson 15. the evaluation of industry

 

On the worksheet below, describe the impact, if any, the various seasons have on the economic health of your industry and business. Also describe any additional seasonal factors. Do it in the most detailed way.

HOW SEASONAL FACTORS AFFECT YOUR INDUSTRY

Christmas/Any other holiday: _________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________   Summer: _________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________   Winter: _________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________   Other: ______________________________________________________________________________________________________________________________

2. Explanations to the text

1.... to enter the field – осваивать поле деятельности.

2. …fight to survive by stealing remaining customers from weakened competitors – борются за выживание, переманивая оставшихся покупателей у ослабевших конкурентов.

3.... quite dissimilar based on development stage – совершенно различны, если исходить из стадии развития

4. …we can keep fresh product churning. – мы всегда можем иметь свежий товар

 

3. Key vocabulary / expressions

be well-suited [ welsju:tid] – v соответствовать

brisk – adj сильный

comprise [kəm'praiz] – v включать, содержать; охватывать

go bankrupt ['bæhkrÙpt] – обанкротиться; bankruptcy – n банкротство,

несостоятельность

inevitable [i´nevitәbl] – adj неизбежный

maturity [mә'tju:riti] – n зрелость; mature adj завершенный

overwhelm – v ошеломлять, подавлять

revenue ['revinju:] – n доход

survive [sз:´vaiv] – v выжить; survival – n выживание

take into account – принимать во внимание

wedding – n свадьба

 

4. Test your own attention. Find English equivalents in the text

стадии зрелости промышленности__________________________________

освоиться с товаром или услугой___________________________________

объем продаж___________________________________________________

предметы личной гигиены_________________________________________

потребительские товары___________________________________________

предприятия, имеющие отношение к туризму_________________________

не быть подверженным экономическим циклам________________________

________________________________________________________________

5. Make up sentences with the given above word combinations

6. Complete the sentences with the information from the text

1. _____other businesses closely related to that product or service,___________

2. Smaller companies are well-suited___________________________________

3. Such industries as discount department stores__________________________

4. ____________________________are relatively immune to economic cycles.

5. Considering the economic conditions or cycles that affect business_________

6.___________it is imperative that you understand and account_____________

7. We keep historical records of our sales volume_________________________

8. _________________________________may intersect two or more industries.

9. ______________ and used car dealerships are countercyclical, ____________

Phonetic Test.

Prepositional phrasal verbs

Break

1. My car broke down on the way to work.

2. She broke down in tears when she heard the news.

3. He broke off in the middle of his speech.

4. Some people broke out of New York downtown auto crash last night.

5. The crowds managed to break through the police barriers.

6. She’s broken up with her boyfriend.

7. Can you help me break up this box to make firewood?

8. The class is broken down into 5 lessons. They walk users through the rest

steps.

9. The trip made a pleasant break.

10. What a pity! The weather has broken.

11. Just give him a break!

12. It was hard for him to break into the publishing world.

Word formation

Essential grammar. Revision

Translate the sentences

1. A knowledgeable investor should have disregarded a plan with such statement.

2. You could have seen this by looking at the example of the photocopier.

3. The competition may have come from many sources.

________________________________________________________________________Lesson 15. the evaluation of industry

 

4. Watching you competitors could have helped you understand what customers

want.

5. It is comforting to imagine that widget customers ought to have bought your product instead of the competitor’s.

6. The objective features of your product or service may have been a relatively

small part of the competitive picture.

7. You should have gathered data to support your plan.

SHOULD, WOULD

Translate the sentences

1. Anything else should be negotiated as part of your lease.

2. Your home office should reflect your business if customers or clients are

going to visit.

3. You should develop a rewarding social life that’s completely separate from

business life.

4. You should not go into business with friends.

6. I would hate to start a product in a distribution system I didn’t know.

7. In taste tests we got a very high response to the soft drink, but it would have

been beyond our resources to get distribution for a soft drink.

Should ought need

Translate the sentences

1. You should work at your English as much as possible.

2. You needn't take part in this research, if you don’t want to.

4. You needn't devote particular attention to this phenomenon, as we have

already studied its effect.

5. The results of the experiments should be checked up very carefully.

6. Every researcher ought to be interested in the results of work.

14. Translate the sentences into English

1. Можно войти в комнату? – Да, пожалуйста.

2. Вам следует прослушать курс лекций этого профессора.

3. Вы должны быть внимательнее к его советам.

4. Я должен буду встретить его на заседании нашего научного общества.

5. Вам следует сделать все, чтобы удовлетворить требования вашего

юриста.

6. Cтатья профессора Хиггинса должна быть опубликована на следующей

неделе.

7. Вам не нужно возвращать эти книги в библиотеку на следующей неделе.

Вы можете держать их до конца семестра.

8. Джеймс не смог прочесть все необходимые статьи. Он сможет сделать

это только к концу месяца.

9. Рэй хорошо знает этот предмет, и он сможет сдать экзамен и получить

отличную оценку.

10. Вам разрешат присутствовать при его опытах.

11. Вам следовало быть более убедительным при подаче документов на

грант.

15. would

Translate the sentences into English

1. At the university our professor would give us a new material for every lesson.

2. Thomas Edison would carefully repeat his experiments to be sure of the

results.

3. I asked my friend to help me but he wouldn't; he said I could do everything

without his help.

4. Light would pass through glass but would not pass through wood.

 

Self-Study

CUMULATIVE REVIEW EXERCISES

16. Translate the sentences into English in a written form

1. You ought to remember the names of the scientists who have contributed to

the development of your speciality.

2. Honestly evaluating your competition may have helped you better understand

your own product or service.

2. Companies with significant financial resources, highly motivated or creative

personnel, and other optional assets may have proved to be tough, enduring

competition.

3. If no competition truly existed at the time they were invented, it would have

meant no market for photocopiers existed.

4. To clarify your company’s focus as part of the business plan process you

should define a Statement of Mission.

5. You should be more persuasive when submitting documents for granting.

6. You should have planned for economic downturns by marshalling your

resources and building up liquidity to take care of the rainy day.

7. The future of public relations could be better predicted and prepared if trends

in its history were identified and understood.

8. When faced with an upcoming battle, Julius Caesar would rally public support

through assorted publications and staged events.

9. Business Etiquette is generally accepted behavior, which may be open to

dispute.

10. The professional behavior may be based on custom and morality.

11. Executives are supposed to maintain a high sense of values and conduct

honest and fair practices with the public.

12. There are social guidelines and manners to be followed in business situation

when dealing with others.

________________________________________________________ Lesson 16

 

1. Read the text

MANAGErial issues

No matter what you sell,

You're selling your people.

1. Your people determine your success. People are the heart of every business and the experience, skills, and personalities of the management team have a greater impact on the long-term fortunesof acompany than the product or service provided. Many investors know that and base their investment choices almost entirely on the strength of the people involved in the enterprise.

2. For this reason, investors and lenders are likely to review the management portion of a business plan before they read many other sections and make decision on investment. They read this section thoroughly, carefully scrutinizing the qualifications of the people behind a business. They look not only to see if the management team has the expertise necessary to run the business, but also if the internal structure makes maximum use of the talents of team members.

3. Most entrepreneurs give serious thought to choosing people for key positions. They may undertake extensive recruitment efforts, often using professional executive search firms, to find just the right person. But all too often, no one gives careful consideration to creating clear lines of organizational responsibility and developing a management style that motivates employees. Even the very best people will only do their best work in a system that encourages, recognizes, and rewards achievement. If you can create such an atmosphere, you can give yourself a true competitive edge.

4. Two main areas in management is, thus, the people who run your business and your own management structure and style. Together, these two thrusts represent the core of your management system.

5. There always exist many questions that a manager should ask him/herself. Some of them are: How to actually run the company? How will decisions be made? What are the lines of authority? What voice do employees have when company policies and goals are set?

6. A company’s organization and management style act as powerful invisible force shaping both the daily working atmosphere and the future of the company. But all too often managers, especially new managers, pay only cursory attention to the development of their structure and style.

7. Formal and informal lines of authority. When examining their organization, managers usually begin with the formal structure – the official lines of authority. They decide how employees will be supervised and how job functions will be allocated. While clear lines of authority are vital in large organizations, they are equally important in small companies. A frequent source of tension in partnerships is the failure to plainly delineate areas of responsibility and decision-making. Some questions to ask when examining your company’s structure are:

· Should responsibilities be allocated by functional area, product line, or geographic divisions? For example, should all your marketing efforts be assigned to a marketing department, or should each division handle all aspects of a product or service, including marketing?

· Which employees will each manager supervise, and over what functions will each manager have responsibility?

· Will you use a production line or team approach in producing your product or service? Thus, will each worker be responsible for one particular task, or will a group be responsible for many tasks?

Think of a possibility to communicate your management structure through a graphic organizational flow chart.

8. But every business also has an informal structure which can have at least as much impacton the company and you should look at less formal relationships within your company when undertaking internal planning. When you evaluate your informal organization ask yourself such questions as:

· Which managers have the most impact on decisions?

· Which managers have ready access to the president or members of the Board of Directors?

· Do others effectively translate decisions at the top into action?

· Which subordinates have substantial influence on their superiors?

· Which divisions or groups of employees have the greatest morale problems? Who do they report to?

Generally, you want to evaluate how authority is distributed and how decisions are made in reality, not just on paper.

9. Management style. All managers have management styles, even if they’ve never thought about their approach to management. Most managers define their jobs in terms of the tasks to be done rather than the methods to be used. They see their role as making widgets, rather than motivating and aiding the widget makers. Thus, their management styles are usually just extensions of their personal styles.

10. Managing people is far too important to be left to chance. Your employees are one of your valuable resources. Just as you need to take care of other resources

in your company, such as equipment and materials, you must make certain you are not wasting your human resources. Moreover, you want to develop a management style that is independent of the personalities of your key managers and that instead fits your corporate culture. Your corporate culture should permeate every aspect of your business and should reflect how you want your employees and customers to see you.

11. Your management style should reinforce your corporate culture and company message. If you are selling computers, for instance, and your corporate culture emphasizes creating an efficient tool for business, you might utilize a hierarchical management style with clearly defined tasks for each employee. On the other hand,

 

____________________________________________________________________________________Lesson 16. MANAGERIAL ISSUES

 

if your computer company has a corporate culture centering on being an “alternative” to stuffy business computers, a more open management style accentuating the personal creativity of staff members may be more appropriate.

12. For most companies, especially smaller companies, building a sense of teamwork is essential. Help your employees feel they are an important part of the organization and that their contribution matters. Communication is a vital ingredient in team building; if employees know what’s going on in the company, they feel a part of the whole picture.

13. Regardless of your management style, remember that everyone, whether mailroom clerk or company president, wants to feel important. Recognizeachievement, both privately and publicly. Reward initiative with both monetary and nonmonetary awards. Acknowledge jobs well done. Solicit suggestions, and be responsive to concerns.

14. Here are the five most important elements of your management style:

· Clear Policies

· Communication

· Employee Recognition

· Employee’s Ability to Affect Change

· Fairness

To gain more information on the topic of the lesson read Supplementary Texts on pp.

2. Key vocabulary / expressions

allocate ['æləֽkeit] – v размещать, распределять; назначить

cursory ['kз:sәri] – adj. беглый, поверхностный

delineate [di'liniֽeit] – v устанавливать, очерчивать

executive [ik´zekjutiv]– adj. исполнительный, административный

hierarchical [ֽhaiә'ra:kikәl] – adj. иерархический

monetary – adj. денежный, валютный

scrutinize ['skru:tiֽnaiz] – v внимательно рассматривать; тщательно

исследовать

stuffy – adj неинтересный, скучный; загруженный

supervise ['sju:pəֽvaiz] – заведовать, наблюдать

thrust – зд. положение; опора

 

3. Read the words paying attention to different pronunciation of letter c and t. Translate the words

crucial, beneficiary, presidential, specific, special, concept, sociology, associate, initial, license, financial, medicine, perception, artificial, process, percent

 

Prepositional phrasal verbs

Self-Study

Cummulative Review test

 

7. Translate the following sentences paying attention to grammar structures used in them:

1. To be more successful you should know and use appropriate basic business

terms.

2. Do not use lots of technical jargon in the hope of sounding impressive when

speaking to the people.

3. It is certainly not necessary to be a Business School graduate to develop a good

business plan.

4. Once you have defined your market, you should then assess its size and trends.

5. Nothing happens unless first a dream.

6. We can’t control others or certain events in our lives but we can control how we

react to those events.

7. Do you know the proverb “cut the coat according to the cloth”?

8. When a body in a rotational motion moves in a radial direction, a force acts to

speed up the body.