- •Белорусский государственный университет
- •Тихомирова л. Б., Князева н. И., Рунцова э. В., Хведченя л. В.
- •Предисловие
- •Can you explain why you have chosen the profession of an economist?
- •Careers: Economist
- •Vocabulary Focus
- •1. K p. A. – one thousand per annum.
- •Ex. 4. Express in one word.
- •Degrees in Economics
- •Comprehension
- •Questions
- •Outstanding Economists
- •Michael Dell Timeline
- •Ingvar Kamprad Timeline
- •Example
- •A. Translate into Russian.
- •B. Translate into English.
- •Vocabulary academic adj – 1. Университетский; академический; учебный; 2. Чисто теоретический; 3. Фундаментальный (в противоположность прикладному)
- •Salary n – жалованье, оклад self-employed adj – обслуживающий свое собственное предприятие; работающий не по найму
- •2. Economics as a science
- •Economics as a Science
- •Vocabulary Focus
- •Satisfying People’s Wants
- •Economic Systems
- •Methodology
- •Economic Theory and Models
- •Useful language: How to make a presentation (Part 2).
- •Discuss the following questions.
- •Vocabulary
- •3. Microeconomics
- •3.1. Supply and demand
- •Supply and Demand
- •Vocabulary Focus
- •Text 2 Equilibrium: Mr. Demand, Meet Mr. Supply
- •Equilibrium
- •Elasticity
- •Ex. 2. Answer the questions on the text.
- •The Leisure Industry
- •B. Discuss the following questions:
- •Vocabulary
- •3.2. Market structure
- •Text 1 Market Structures
- •Monopoly
- •Vocabulary Focus
- •Comprehension
- •Three Pricing Strategies
- •Market Leaders, Challengers and Followers
- •Useful language: Negotiating.
- •Vocabulary
- •4. Macroeconomics
- •4.1. Basic national economy indicators
- •Gross Domestic Product
- •Vocabulary Focus
- •Other Measures of Income
- •Text 3 Economic Growth
- •Writing
- •Describing Innovations
- •Speaking
- •Useful language: Decision-making
- •Vocabulary
- •4.2. Economic business cycles and unemployment
- •Economic Business Cycles
- •Vocabulary Focus
- •Comprehension
- •Unemployment and its Costs
- •Types of Unemployment
- •W. H. Philips and the Philips Curve
- •Headhunting
- •A. Useful Language: Problem-solving.
- •Vocabulary
- •4.3. InflAtion
- •Meaning and Measurement of Inflation
- •Vocabulary Focus
- •Demand-Pull and Cost-Push Inflation
- •Inflation and the Real Interest Rate. Control of Inflation
- •Consumer Price Index Criticism
- •Vocabulary
- •4.4. Banking discovering connections
- •Types of Banks and their Functions
- •Vocabulary Focus
- •Banking in the usa
- •Text 3 Banking in the Republic of Belarus
- •Listening Central Banking
- •Vocabulary
- •4.5. Money and monetary policy
- •Money and its Functions
- •Vocabulary Focus
- •Supply and Demand for Money
- •Instruments of Monetary Policy
- •Monetary Policy during the Great Depression
- •Raising Business Capital
- •Vocabulary
- •4.6. Fiscal policy
- •Fiscal Policy
- •Vocabulary Focus
- •Other Issues in Fiscal Policy
- •Should the Government Intervene in the Business Cycle?
- •3. Different verb forms
- •Vocabulary
- •1. Verbs of change
- •2. Prepositions
- •5. The global economy
- •5.1. International trade
- •International Trade
- •Vocabulary Focus
- •Trade Barriers
- •The Banana Wars
- •Free Trade
- •Vocabulary
- •5.2. Globalization discovering connections
- •Globalization
- •Vocabulary Focus
- •Comprehension
- •Economic Cooperation
- •Text 3 Multinational Corporations: the Pros and Cons
- •Airbus Industrie
- •The Real World
- •Cultural Awareness
- •Vocabulary
- •6. Business administration
- •6.1. Company structure discovering connections
- •What types of business are popular in your country?
- •Reading
- •Forms of Business Organization
- •Vocabulary Focus
- •Comprehension
- •Types of Companies and their Structure
- •Takeovers and Mergers
- •Flotation
- •Advising Companies
- •Key questions for the planning committee
- •Vocabulary
- •6.2. Management
- •Nature of Management
- •Vocabulary Focus
- •Management Styles
- •Corporate Culture
- •What Makes a Good Manager?
- •Useful language: Managing meetings.
- •Vocabulary
- •Glossary
- •6.3. Accounting
- •What is Accounting?
- •Vocabulary Focus
- •Accounting and Financial Statements
- •The Accounting Profession
- •Business Documents
- •The Balance Sheet
- •Income Statement
- •Bookkeeping
- •Vocabulary
- •6.4. Marketing
- •Concept of Marketing
- •Vocabulary Focus
- •Marketing Mix
- •Text 3 The Four Major Promotional Tools
- •Writing
- •Why Brands Matter
- •Vocabulary
- •Uniqueness n – уникальность
- •6.5. Advertising
- •Advertising
- •Vocabulary Focus
- •How Companies Advertise
- •Ad advertising campaign advertising standards advertisement advertising budget advertising agencies print
- •From the History of Advertising
- •Designing an Advertising Campaign
- •Endorsement
- •Planning Advertising Campaign
- •Vocabulary
- •ЛитературА
- •English for Economists
- •Тихомирова л. Б., Князева н. И., Рунцова э. В.
- •220050, Минск, пр-т Независимости, 4.
Useful language: Managing meetings.
Starting OK, let’s get down to business. Right, can we start, please?
|
Dealing with interruptions Could you let him finish, please? Could you just hang on a moment, please? |
Slowing down Hold on, we need to look at this in more detail. I think we should discuss this a bit more. |
Setting objectives The purpose of this meeting is … The aims of this meeting are … |
Keeping to the point I’m not sure that’s relevant. Perhaps we could get back to the point. |
Summarising OK, let’s go over what we’ve agreed. Right, to sum up then … |
Asking for reactions How do you feel about …? What do you think? |
Speeding up I think we should move on now. Can we come back to that? |
|
You are managers of a retail fashion chain called Space. You are holding your regular management meeting. Use the Managing Director’s notes below as an agenda for your discussions. A different person should chair each item.
Dress Code. Following complaints from customers, we need to discuss ideas for a dress code for all employees, as well as guidelines on personal appearance.
Policy for Smokers. Non-smoking staff complain that staff who smoke take frequent ‘cigarette breaks’ outside the store. Should smokers work extra time to make up for the time lost?
Commission Payments. At present, commission is based on quarterly sales at each store and is divided equally between all staff. Now, our Sales Director wants each person to receive commission according to their individual sales.
End-of-year Bonus. Staff receive sales vouchers as an end-of-year bonus. The vouchers give discounts on a range of goods at major department stores. Some managers are proposing to issue no sales vouchers this year. Instead, staff will be invited to an end-of-year party.
Staff Turnover. Staff tend to be young so employee turnover is high. As a result, training costs have increased dramatically. What can be done to keep staff longer
B. Case Study: Orbit Records.
Background
Orbit Records was founded in London 20 years ago, and now has 12 large stores in the UK and five in Germany. The company grew quickly because it had a successful marketing strategy. The stores offer a wide range of CDs which they sell at reasonable prices. Their record stores carry over 80,000 titles – about three times more than their main competitors.
About five years ago, Orbit stores diversified into selling computer games, DVDs, videos, T-shirts, adventure holidays, concert tickets, books and comics. Not all the new areas of business were profitable and, as a result, the company’s profits fell sharply.
A change of leadership
After the founder of Orbit Records died, a new Chief Executive, Sheldon Drake, took over. However he failed because he had no clear vision of where the company was going. Also he did not communicate well with employees, who started to lose confidence in the business. They began to worry about losing their jobs and their morale suffered.
Three months ago Sheldon Drake resigned and his place was taken by someone from outside the company.
Task of the new CEO
One of the new CEO’s main tasks was to motivate staff and raise morale, so that would be more productive. The HR Department sent questionnaires to all employees below senior management level. The results are summarized in the chart on the next page.
Staff attitudes (%) |
Yes |
No |
Don’t know |
|
12 |
70 |
18 |
|
48 |
46 |
6 |
|
16 |
20 |
64 |
|
18 |
50 |
32 |
|
42 |
26 |
30 |
|
48 |
45 |
7 |
|
25 |
14 |
61 |
|
55 |
42 |
3 |
Task
Work in small groups. Discuss the results of the survey. What are the most important findings?
Think of six practical ideas for motivating staff, improving morale and increasing loyalty. Note them down.
Listen and make notes on the CEO’s ideas on these issues.
Choose the six best ideas from the CEO’s list and your own list, giving reasons for your choices.
As one group, try to agree on the six best ideas for further action.
C. Summarize the information of the Unit to be ready to speak on Management. Use the following prompts as a plan.
definition of management;
five functions of management;
two levels of employees in the organization;
levels of management;
main responsibilities of top managers;
company’s mission, vision and strategy;
theory X and theory Y;
classifications of managerial styles;
organizational culture and its components.
