NGÂN HÀNG NHÀ NƯỚC VIỆT NAM TRƯỜNG ĐẠI HỌC NGÂN HÀNG TP.HCM TIẾNG ANH KINH DOANH 1 Chủ biên: ThS. NGUYỄN NGỌC PHƯƠNG DUNG Thành viên: ThS. Nguyễn Thị Thanh Trúc ThS. Võ Thanh Tuấn ThS.
Ngô Thị Hạnh Quyên Thành phố Hồ Chí Minh – Năm 2024 THE STATE BANK OF VIETNAM HO CHI MINH UNIVERSITY OF BANKING BUSINESS ENGLISH 1 Chief author: NGUYEN NGOC PHUONG DUNG, M.A Members: Nguyen Thi Thanh Truc, M.A Vo Thanh Tuan, M.A Tu Van Nam, M.A Ngo Thi Hanh Quyen, M.A Ho Chi Minh City –2024 i PREFACE It is with great enthusiasm that we present Business English 1, a comprehensive guide tailored for English majors at Ho Chi Minh University of Banking. This book has been meticulously designed to equip students with the language knowledge necessary for thriving in the dynamic world of business. The content of this book spans seven modules, each focusing on a crucial aspect of the business world. Through carefully curated materials, including words and definitions, sentence and passage completions, cloze tests, and reading passages, students will gain insights into contemporary business concepts and scenarios.
The modules cover: Module 1: Competitive Environment - Understanding the nuances of competition in business and the strategies that drive success. Module 2: Future Uncertainty - Navigating the unpredictable challenges of the business world and the importance of adaptability. Module 3: Rewarding Performance - Exploring the impact of performance metrics and incentives in motivating employees and achieving business goals. Module 4: Organisational Cultures - Analyzing the diversity of workplace cultures and the influence they have on productivity and collaboration.
Module 5: Change Management - Examining effective strategies for managing transitions and transformations within organizations. Module 6: Fostering Creativity - Cultivating an innovative mindset to drive progress and maintain a competitive edge. Module 7: Working Across Cultures - Delving into the complexities of international business and the importance of cultural competence. Each module is structured to provide students with a thorough understanding of these essential business topics, while simultaneously developing their English language proficiency.
We trust that this book will serve as a valuable resource for students as they embark on their academic and professional journeys. May it inspire a deeper appreciation for the intricacies of business English and empower students to excel in their future careers. ii TABLE OF CONTENTS MODULE 1: COMPETITIVE ENVIRONMENT Part 1: Vocabulary practice Words and definitions. 2 Part 2: Passage completion.
7 Part 3: Reading comprehension. 10 MODULE 2: FUTURE UNCERTAINTY Part 1: Vocabulary practice Words and definitions. 17 Part 2: Passage completion. 21 Part 3: Reading comprehension.
25 MODULE 3: REWARDING PERFORMANCE Part 1: Vocabulary practice Words and definitions. 32 Part 2: Passage completion. 36 Part 3: Reading comprehension. 40 MODULE 4: ORGANISATIONAL CULTURES Part 1: Vocabulary practice Words and definitions.
48 Part 2: Passage completion. 52 Part 3: Reading comprehension. 56 MODULE 5: CHANGE MANAGEMENT Part 1: Vocabulary practice Words and definitions. 64 iii Sentence completion.
65 Part 2: Passage completion. 70 Part 3: Reading comprehension. 73 Module 6: FOSTERING CREATIVITY Part 1: Vocabulary practice Words and definitions. 80 Part 2: Passage completion.
84 Part 3: Reading comprehension. 87 Module 7: WORKING ACROSS CULTURES Part 1: Vocabulary practice Words and definitions. 97 Part 2: Passage completion. 102 Part 3: Reading comprehension.123 1 MODULE 1: COMPETITIVE ENVIRONMENT PART 1: VOCABULARY PRACTICE WORDS & DEFINITIONS 1.1 Choose the best definition for each term.
There are five extra terms. a situation in which one company is able to supply the whole market for a product or service more cheaply than two or more companies could 2. a situation in which a small number of organizations or companies has control of an area of business, so that others have no share 3. (an organization or group that has) complete control of something, especially an area of business, so that others have no share 4.
a person, group, etc. competing with others for the same thing or in the same area 5. a charge or list of charges either for services or on goods entering a country 6. an offer or attempt to take control of company by buying enough of its shares to do this 7.
to spread or operate internationally 8. a situation where the sellers of a product or service are free to compete fairly, and buyers have complete information 9. the official legal right to make or sell an invention for a particular number of years 10. to have control over a place or person 2 1.2 Write the word(s) based on the given definitions (1-10) and the initial letter(s).
a particular kind of product or merchandise (2 words: 8 letters- 4 letters: B. to form the total of something (2 words: 7 letters- 3 letters: A. cost advantages reaped by companies when production becomes efficient (3 words: 8 letters- 2 letters- 5 letter: E. the set of conditions or forces that affect the functioning of the business (2 words: 7 letters- 11 letters: B.
a chain of businesses or intermediaries through which a good or service passes until it reaches the final buyers or the end consumer (2 words: 12 letters- 7 letters: D. the study of populations and the different groups that make them up (1 word: 12 letters: D. a market that experiences plenty of trading activity and on which prices is increasing (2 words: 7 letters- 6 letters: B. a strategy in which a company seeks growth by adding products and markets of a kind unrelated to its existing products and markets (2 words: 6 letters- 15 letters: M.
a combination of various products, services and business units that make up a business (2 words: 8 letters- 9 letters: B. the fact that a company has an advantage over its competitors (2 words: 11 letters- 9 letters: C.3 Choose the best word/phrase to complete the sentences. 1 Either agreeing not to compete with another business or abusing a dominant position can be considered as _____. anti-competitive practices D.
perfect competition 2 The retail banking is a kind of the main _____ of the commercial bank. supply chain 3 What may be common _____ in many countries is in some cases unlawful in America. business venture 4 A key part of their _____ has been to keep abreast of their customers' evolving tastes. competitive approach 5 For any new _____, there needs to be a good plan.
business venture 6 New business acquisitions _______ 54% of that growth in the industry. supplied with 4 7 It is possible to __________ markets closer to the perfectly competitive ideal and the way to do that might be to reduce entry barriers and make it easier for the firms to compete. add 8 We’ve arranged to have lunch first and ______ the meeting after that. pick up 9 The government cuts _____ (import taxes) on goods and services from overseas.
waybill 10 They _____ the market for high-speed internet routers. uphold 11 There is opportunity to gain market share even in the current tough _____. economic climate 5 12 Globalization is the worldwide movement towards economic, financial, trade and communication _______. combination 13 Big industrial firms were trying to find the critical mass they needed to survive in the new _____.
economic world war B. industrial revolution 14 _____ are transitioning from a low income, less developed towards a modern, industrial economy with a higher standard of living. New markets 15 Nationalization refers to the action of a __________, which generally occurs without compensation for the loss of the net worth of seized assets and potential income. government taking control of a company or industry B.
government borrowing money into a company or industry C. government merging with a company or industry D. government forcing a company or industry 16 As we have a long business relationship, £950 is my _____, and I can't improve on it. initial 6 17 The knowledgeable man, who has contributed to the development of the company, is the _____ director of The Conservation Organization.
founding 18 Did the dollar not become the rising star of _____ markets in 1996 and early 1997? A. local currency 19 A _____ is hired to work and train alongside managers and executives with the intention that one day they will become a manager within the organization A. graduate management trainee B. general management executive D.
potential executive 20 _____ can affect a business's reputation, especially after a merge has happened between two or more businesses in the same industry. Vertical integration 7 PART 2: PASSAGE COMPLETION 2. Complete the passage with the words in the box. employee profitable disadvantages hard work advantages business banks traditional profit existing campaigns entrepreneurial So, you want to be your own boss? Basically, you have three options: one, find a job and get promoted; two, start your own company; or three, buy a(n) ____ (1) ____ business.
Perhaps you think buying companies is only for millionaires? Well, let's look at some of the advantages of buying an established business and the ____ (2) ____ of the other options. Your safest option is to start as an ____ (3) ____ in a big firm. The only investment is your own time and ____ (4) ____. But it can take many years to get to the top.
If you really have ____ (5) ____ spirit, working for someone else can be an extremely frustrating experience. And what about starting your own business? Being the next Richard Branson or Cher Wang is a nice idea but, in reality, most new businesses are failures. 50% don't survive the first three years. That figure rises to 70% after five years.
Even a well- known franchise offers no guarantee of success. On the other hand, an existing business has many ____ (6) ____. First of all, it is already ____ (7) ____. It already has a customer base, regular cash flow, equipment, employees, a list of suppliers, and established business processes.
In a start-up, you have to build all of those from nothing. If you choose carefully, an established business has every chance of continuing to be profitable. As far as price is concerned, it's a question of negotiation. The calculation is a little complex, but the starting price often equals three to five years' profits, depending on the type and size of business.
The better your negotiating skills, the better the deal. Finally, there are three main sources of funding. First, your own personal funds; secondly, bank loans; thirdly, seller financing. Seller financing is more and more common as it becomes more difficult to borrow money from ____ (8) ____.
The seller agrees to wait for payment of between 50 and 75% of the agreed price, plus interest, over a period of three to five years. Both the buyer and the seller hope that, in that time, the business produces enough ____ (9) ____ to pay the seller back. The 8 choice is yours. You can spend thirty years working your way to the top, or you can take a risk and start a business.
But if you like the idea of managing a successful company right now, why not start looking for a ____ (10) ____ to buy? In every city in the world, there are hundreds of small businesses for sale, all waiting for your talent to help them grow! (Allison, 2013) 2. Complete the passage with the words in the box. entry marketing strategies cost suppliers integration function managing control price free movement labour infrastructure In economic terms, a market is not a place, but a process which is a result of human actions. That is, all of us act on our own behalf, but everyone's action aims at the satisfaction of other people's needs as well as one's own, and the responsibility of government is to create and preserve the environment in which the market can ___ (1) ___.