1

-------------------- U n i v e r s i d a d -------------------

Inca Garcilaso de la Vega

Nuevos Tiempos. Nuevas Ideas
Facultad de Comercio Exterior y Relaciones Internacionales
---------------------------------------------------------------------------

BUSINESS ENGLISH I
INGLES PARA
NEGOCIOS I
DELIA ROCIO GANVINI ASENCIOS

NDICE
Introduccin
Orientaciones Metodolgicas

4
5

UNIT 1
1.1 Vocabulary
1.2 Reading
1.3 Grammar
1.4 Writing

: CAREER/ EPLOYMENT

: Employment terms and adjectives

: Jobs Advertisements
: Present Simple and Continuous
: A curriculum Vitae

UNIT 2
2.1 Vocabulary
2.2 Reading
2.3 Grammar

: IMPORT/EXPORT
: Trade/import- export terms
: The banana trade and trade wars
: Countable and Uncountable Nouns

15

UNIT 3
3.1 Vocabulary
3.2 Reading
3.3 Grammar

: MARKETING
: Marketing terms
: USPs and the Product Life Cycle
: Simple Future with Will Going to

23

UNIT 4
4.1 Vocabulary
4.2 Reading
4.3 Grammar

: MONEY AND NEGOTIATION

: Buying, Selling and Negotiating
: How to negotiate a bank loan
: First and Second Conditional

34

UNIT 5
5.1 Vocabulary
5.2 Reading
5.3 Grammar

: MARKET RESEARCH
: Market Research / Advertising
: Recent Trends in Market Research
: Relative Pronouns and Clauses

42

UNIT 6
6.1 Vocabulary
6.2 Reading
6.3 Grammar

:
:
:
:

51

INVESTMENT
The Economy and Investment
Angel Investor
Making Comparisons

BUSINESS ENGLISH REGULAR VERBS

62

LIST OF IRREGULAR VERBS

63

GLOSSARY

65

BIBLIOGRAFA UTILIZADA

70

RECOMENDACIONES BIBLIOGRFICAS
REFERENCIAS ONLINE

INTRODUCTION
Este curso est orientado al desarrollo del idioma Ingls Tcnico a nivel pre-intermedio
aplicado a travs del Vocabulario Tcnico para Negocios y comprende el desarrollo de
las cuatro habilidades comunicativas comprensin auditiva, comprensin escrita, expresin
oral, y, expresin escrita aplicando estructuras gramaticales y vocabulario en un contexto
cotidiano y empresarial. El curso esta dividido en secciones especficas, tales como
Vocabulary, Reading, Grammar, y Writing .
Crea una atmsfera que da prioridad a una adecuada socializacin y aprendizaje
cooperativo en grupos de trabajo eficientes que faciliten la comunicacin, teniendo como
objetivo brindarle a los participantes las estrategias necesarias que les permitan interactuar
comunicativamente en forma exitosa utilizando el idioma ingls comn y comercial en forma
oral y escrito.
El curso cubre los siguientes temas: Career/Employment, Import/Export, Marketing,
Money/Negotiation, Market Research, and Investment.

ORIENTACIN METODOLGICA
a. ESTRUCTURA
Para un mejor entendimiento y orden para el alumno, la estructura del material de trabajo debe
basarse en las unidades temticas a presentar, cuyo objetivo es precisar la esencia del objeto de
estudio.
b. METODOLOGA
Para un mejor aprovechamiento del presente material de trabajo, los alumnos debern seguir las
recomendaciones siguientes.
Tener los conocimientos bsicos (elementales) del idioma Ingls.
Leer atentamente el contenido de cada leccin, que incluye una descripcin y explicacin de la parte
conceptual y de sus aplicaciones del vocabulario tcnico.
Desarrollar los ejercicios de gramtica y vocabulario que incluye la leccin, con el propsito de afianzar
su aprendizaje.
Analizar las lecturas que presenta cada leccin a fin de responder las preguntas de comprensin
lectora y dar opinin.
Revisar vocabulario y estudio de casos antes de clase para opinar sobre el tema o hacer ejercicios de
debate.
Desarrollar las tareas dejadas de cada leccin (grammar, vocabulary, reading and writing).
Revisar las direcciones electrnicas, para una mayor informacin sobre el tema.
Resolver las preguntas de evaluacin en lnea a fin de medir el aprendizaje.
Preocuparse por reforzar los conocimientos del idioma Ingls en instituciones especializadas
seleccionadas de acuerdo a su preferencia.
c. EVALUACIN
El proceso de evaluacin es permanente, consiste en exmenes parcial, final y promedio de prctica
as como pasos orales evaluaciones escrita, sustentacin de trabajo, discusin de temas, participacin
en clase, foros o chats.
El puntaje que se otorga tanto al examen parcial, examen final y promedio de prctica es la siguiente:
Promedio de prctica (PC)

Examen parcial (EP)

Examen final (EF)

La nota final (NF) se obtiene del promedio aritmtico siguiente: NF = EP+EF+PC

UNIT 1

CAREER /
EMPLOYMENT

1. Read the statements and tick the three which most closely represent your beliefs
about work.
1.
2.
3.
4.
5.
6.

People are naturally lazy and avoid work if they can (

People find satisfaction in work ( )
Everybody in an organization is capable of creativity
Work is a necessary evil ( )
People prefer to follow order and instructions ( )
Work is as natural as play or rest. ( )

VOCABULARY
Look at the adjectives in the box below.
Enthusiastic secure confident challenging dynamic flexible stressful
patient
boring reliable creative conscientious trustworthy worthwhile ambitious
1. Divide them into those that describe people and those that describe jobs. Which
adjectives can describe both? Two have been done as example.

JOBS
challenging

PEOPLE
enthusiastic

BOTH

.
.
.

2.

Which adjectives would you use to describe the job in the list below
Accountant
Administrative
Assistant
Manager
Cashier

3.

Customer Service
Representative
Executive
Assistant
Advertising

Marketing
Manager
Receptionist
Sales Manager
Sales
Representative

Complete the sentences by arranging the letters in CAPITALS to form a word to

do with work , as in the example.
1.
They send me an application form . PLITACAIOPN
2.
They want two written _____________; they suggest an employer and a teacher.
EFEERRNCES
3.
Well, they have invited me for an ______________next week. Can I borrow your
suit? ITEWRVNIE
4.
The job offers a ____________of $25,000 a year . SARAYL
5.
His academic ______________are good but he doesnt have any previous
_____________. UALIIOFQCATISN / PEEERINCEX
6.
Employers are interested in practical _____________like word-processing and
fluency in languages. SLKLSI
7.
In Britain the normal working week for __________ -time employees is anything up
to eighteen hours a week, while people working_________ -time do around thirtyeight hours. PATR / LULF
8.
Officially, she works thirty-five hours a week but sometimes with __________she
does as many as fifty. VEOTIMRE
9.
Now she works from home, she doesnt have to ______________by train to and
from London every day. CMMOTUE
10.
Nowadays many designers or information technology workers are ___________;
that is, they sell their work or services to different organizations.

Phrasal Verbs
4. Complete sentences 1-6 with endings a-f.
1. They are laying off 300 workers .. a ---- by hand or should it be typed?
2. She turned down the job offer .. b ---- at Christmas when its busy
3. She set up her own
c ---- because it involved working shifts.
4. Dont forget to put down .
d----- import-export business.
5. Should I fill in this form..
e----- the names of two referees.
6. We generally take on extra staff
f----- because there arent enough orders.
5. Match the phrasal verbs in italics in 4 above with the definitions below.

1. Establish/begin ___________
2. Complete _______________
3. Include/write down

4. Refuse ____________
5. Employ______________
6. Dismiss ________

6. Employ an exercise in word formation

Underline the stressed sound in each word as in the example
employ employment
unemployment

employee employer

a. Some companies do not reward their _____________as well as others do.

b. ___________________ is a serious problem in some countries in Europe.
c. Some companies prefer to ___________ people with experience than better
qualifies graduates.
d. In this situation, it is the duty of the ______________to make sure that female
workers are not discriminated against.
e. We can see from the chart that the rate of __________________fell by 25% in
the third quarter of the year.
7. Read the following conversation:
INTERVIEWER : So, Chris, what do you do exactly?
CHRIS

: Well, Im an HR manager.

INTERVIEWER : And which department do you work in?

CHRIS

: I work in the learning and development department of the HR

division.

INTERVIEWER : And what are your main responsibilities? Management

development? Training?
CHRIS

: Thats right. Im in charge of the management training for the

group, which means designing a training strategy and buying
courses from training providers.

INTERVIEWER : Sounds interesting. How long have you been in HR?

CHRIS

: Around six years now. Its interesting but the hours are long!

INTERVIEWER : When do you start work?

CHRIS

: I usually start at around 8 oclock and finish at six, depending on

the number of mails I get.

INTERVIEWER : How many emails do you get per day?

CHRIS

: Too many! I normally get about fifty.

NOW INTERVIEW ONE OF YOUR CLASSMATES. USE THE SAME QUESTIONS.

YOU MAY WANT TO ADD QUESTIONS OF YOUR OWN.

1. What do you do exactly?

2. Which department do you work
in?
3. How long have you been doing
this job?
4. What are your main
responsibilities?
5. When do you start work?
6. How many emails do you get
per day?

7. ______________________
8. ________________________

10

READING
Read the following job advertisements:
1. Needed: Full time secretary position available. Applicants should have at least 2 years
experience and be able to type 60 words a minute. No computer skills required. Apply in
person at United Business Ltd., 17 Browning Street.
2. Are you looking for a part time job? We require 3 part time shop assistants to work
during the evening. No experience required, applicants should between 18 and 26. Call
366 - 76564 for more information.
3. Computer trained secretaries: Do you have experience working
with computers? Would you like a full time position working in an exciting new company? If
your answer is yes, give us a call at 565-987-7832.
4. Teacher Needed: Tommy's Kindergarten needs 2 teacher/trainers to help with classes
from 9 a.m. to 3 p.m. Applicants should have appropriate licenses. For more information
visit Tommy's Kindergarten in Leicester Square No. 56.
5. Part Time work available: We are looking for retired adults who would like to work part
time at the weekend. Responsibilities include answering the telephone and giving
customer's information. For more information contact us by calling 897-980-7654.
6. University positions open: The University of Cumberland is looking for 4 teaching
assistants to help with homework correction. Applicants should have a degree in one of the
following: Political Science, Religion, Economics or History. Please contact the University
of Cumberland for more information.
Comprehension Questions
Which position is best for these people? Choose ONLY ONE position for each
person.

Jane Madison. Jane recently retired and is looking for a part time position. She would
like to work with people and enjoys public relation work.
The best job for Jane is _____

Jack Anderson. Jack graduated from the University of Trent with a degree in Economics
two years ago. He would like an academic position.

11

The best job for Jack is _____

Margaret Lillian. Margaret is 21 years old and would like a part time position to help her
pay her university expenses. She can only work in the evenings.
The best job for Margaret is _____

Alice Fingelhamm. Alice was trained as a secretary and has six years of experience.
She is an excellent typist but does not know how to use a computer. She is looking for a
full time position.
The best job for Alice is _____

Peter Florian. Peter went to business school and studied computer and secretarial
skills. He is looking for his first job and would like a full time position.
The best job for Peter is _____

Vincent san George. Vincent loves working with children and has an education license
from the city of Birmingham. He would like to work with young children.
The best job for Vincent is _____

12

GRAMMAR
PRESENT SIMPLE AND CONTINUOUS

1. Complete the sentences with the verbs from the box below in simple present or
present continuous. Make any necessary changes:
BE
INVOLVE
PART

CALL
TAKE
MEET

not WANT

SPEAK

LEARN

1) Our sales rep __________ very stubborn. He ____________

to accept our new

conditions
2) They ___________________ in a temporary project
3) My job usually ______________
4) We _______________

emailing our customers

a new consultant tonight

5) Listen! That man _____________ Japanese

6) Brais speaking. Who ______________
7) My colleagues _________________

, please?
how to make interactive activities right now

2. Rewrite this phone conversation in the right order:

1.- Yes, of course
( )
2.- I'm Henry from the local newspaper

3.- One moment, please ...I'm afraid Jeremy is busy now (

4.- Hello. Could I speak to Jeremy, please? (
5.- Yes. Who is calling, please? (

6.- Could you tell him to phone me back? (

3. Choose the right auxiliary verb:

1) What__________ they specialize in?
2) How many subsidiaries __________your company have?

13

3) I ___________ attending the conference tomorrow

4) ___________ BR solutions developing a new software to help manage sales?
5) _________ your mother work on Saturdays?
6) _________you listening to me? What did I say?
7) I ________ believe Chinese is going to be a useful language in our market
4. All these sentences are wrong. Correct the mistakes (There may be more than one
mistake in each sentence)
1) My job consist in answering phone calls
________________________________________________________
2) Do you read that book at the moment?
________________________________________________________
3) I am wanting to deal of my email before I leave
________________________________________________________
4) Her job involve to travel around the world
________________________________________________________
5) I usually am involved on new projects
________________________________________________________
5. Circle the right answer:
1) You need to talk to Bob. He deals .... new contracts
of
with
2) The main part of his job .... of phoning their customers
takes part
consists
involves
3) We are using a new ... to do part of our work
subcontractor
employee
supplier
4) We are 400 members of ... at the moment
staff
employees
5) ... at weekends?
Do you work

Are you working

6) Where is Sam today? He ... a new supplier

visits
is visiting

14

6. Make sentences in Simple present or Present Continuous with these verbs:

lay off - turn down - set up - fill in - put down - take on
1. _________________________________________________________
2. _________________________________________________________
3. ______________________________________________________
4. ______________________________________________________
5. ______________________________________________________
6. ______________________________________________________
WRITING: A CURRICULUM VITAE
1.These are headings and categories commonly used in CVs.
Marital status referee employment history permanent address skills
Educational history title personal details
hobbies and interests
Surname qualifications date of birth

Which one means

a.
b.
c.
d.

Basic facts about you? ______________

Practical abilities? _________________
Where you live most of the time? ________________
What you do in your free time? _________________
e. When you were born? ________________
f. Mr, Mrs, Ms, or Dr? __________________
g. Details about your working life?___________________
h. If you are married or single? _____________
i. People you can tell us about qualities and character? _________
j. Proof that you have successfully completed a curse? _________
k. Schools and colleges? ____________
l. Family name? ___________

2. Create your own CV.

UNIT 2

15

IMPORT/ EXPORT

VOCABULARY
1. Match the terms with the definitions:
import /importer/export/ exporter /import/ export /
1. ________bring (goods or services) into a country from abroad for sale.
2. _________a commodity, article, or service brought in from abroad for sale.
3. _________a person, country, or business that sells goods to another country.
4._________to send goods to another country for sale.
5.__________a person, country, or company that buys products from another country in
order to sell them

2. Import and export deal with the movement of goods between countries.
1 What is the difference in meaning between to import and to export?
2 Say the words below, stressing the sounds in bold, then listen and check.
import importer export exporter
import importation export exportation
3 Which are nouns and which are verbs?
4 Say these two sentences, paying particular attention to the words in italics.
a Imports have increased again this month.
b The strong pound is bad news for exporters
5 Make new sentences with words based around import and export.

16

3. Complete this text about free trade by completing sentences 1-6 with a-f below.
1 Free trades exists when good can be traded easily between countries .
2 Protectionism is where countries try to protect home producers .
3 One way they do this is by using tariffs .
4 Another way is by using quotas which limit .......
5 Domestic manufacturers often complain that foreign competitors .
6 Exporters, on the other hand, often complain about .

a which are a kind of tax on imported goods.

b complicated bureaucracy and complex customs regulations.
c without restrictions.
d the number of quantity of goods that can be improved.
e from foreign competition and cheap imports.
f try to destroy them by dumping their goods at very low prices.

4. Complete these sentences with words in italics from 2.

1 These new import . make our products 50% more expensive.
2 Government . limit the import of luxury cars to just 200 each year.
3
.. is a very good idea in principle, but in practice we need
. to help domestic manufacturers to survive.
4 This . is awful; just look at all these forms weve got to fill in.
5

We cant compete with their prices; they must be . Their goods to

put us out to business.

5 . What is your companys Unique Selling Propositions or USP? Fill in the

missing words in the sentences below. Choose from the following

17

care

competitors
employees
empowered flexible

experience

goal

invest

quality

1. Our __________________ are the best trained in the country.

2. We look at what our ____________________ do, then we do it better.
3. We spend more time _____________________ to our customers than
any other company in our field.
4. The ___________________ of our goods and services is second to none.
5. We regularly win industry awards for our levels of customer ____________
6. We have more years of _________________ or working in this sector than
any other organization in this country.
7. We have a more ____________ approach to the needs of our customers
than any of our competitors.
8. We _____________ more in research and development than anyone else
in the business.
9. All our people are
decisions on the spot

_____________ to take
Tip: The WTO

about what is

best for the The World Trade Organization was

customer.
establish in 1995. It is a Genevabased organization that aims to
ensure that global trade flows as
smoothly and freely as possible.
One of its functions is to settle trade
disputes. Member countries agree to
READING
reduce the trade barriers between
them in a series of trade
negotiations, known as round.
These rounds (for example, the
Uruguay Round) have mad trade
freer.

18

1.- Make a list of foods that are usually imported into your country. Which would
have been considered rare luxuries in the past?
2.- What do you know about bananas?

1 Decide if a-e are true (T) of false (F).

a Bananas are very fattening .
b The first bananas came from Central
America .
c The word banana is of Portuguese origin .
d Bananas ripen naturally on the sea voyage .
e Bananas have to be picked while they are green .
2 Read the text below and check your answers.
3 Label the pictures (a-e) to describe the different parts of the process, as in
the example.

..

.. ..

4 Look at the second paragraph again. List words and expressions to do

with handling and transportation.
5 Read the tip about WTO.

19

3. Now read the text opposite and answer the questions.

1 What was the cause of the disagreement between the USA and the EU?
2 How did the USA punish the EU for refusing to accept the decision of the WTO?
3 What is the future likely to be for West Indian producers? Why?

Nowadays we take bananas for granted, but a hundred years ago few Europeans had
seen a banana, let alone tasted one. They are a favourite in packed lunches and a
healthy snack, which contains just 90 calories. Yet how many of us are aware of whats
involved in producing and transporting this delicate fruit? Bananas are originated in
south-east Asia; later on, roots were transported to Africa by Arab traders. (Banana
comes from the Arabic word for finger.) In the sixteenth century missionaries introduced it
to the Caribbean. Bananas can only grow in tropical climates fifteen degrees north and
south of the Equator, giving countries in this belt an ideal comparative advantage, like
Chiquita, to bring bananas to a wider public. A plant weighing forty-five kilograms
produces around 120 pieces of fruit. Freshly cut bunches of green bananas travel to the
packing station by overhead cable, where they are washed in cold water and packed in
cartons. They are loaded on pallets and the cargo is placed in the holds of refrigerated
ships at 13.6 C which puts them to sleep. It can take several days to reach this ideal
temperature. At their destination they are transported to ripening rooms where a little
ethylene gas brings them to market condition; customers prefer bananas with green tips
and necks. Container trucks take them to retail outlets.

The Banana War

It is perhaps strange that fruit should be at the center of what was almost a trade war
between the USA and the European Union. France and Britain wanted to protect the
interests of banana producers in their ex-colonies, especially in the West Indies, against
US companies operating out of Central America. The USA claimed that was against the
rules of the international competition and free trade. The WTO decided in favour of the
USA but the Europeans refused to recognize the decision. It was only following a second
WTO judgement against the EU, and the USAs imposition of huge tariffs on unrelated
goods, that they finally agreed to obey the decision. It remains to be seen how well
banana growers in the West Indies can survive as Central American countries have a
comparative advantage in climate, land, and labour costs.

20

GRAMMAR
COUNTABLE AND UNCOUNTABLE NOUNS
1. Which words and phrases in the box are countable (C) and which are
uncountable (U)?

suggestion .
furniture .

money .
opinion .

component .
sugar .

time .

honey .

hour .

oil .

information .

banana .

dollar .

advice .

milk .

machinery .

cigarette .

wine .

2. Containers allow us to quantify uncountable nouns, for example: a packet of

sugar.

1 Look at this list of containers and match each one to a picture a-h.
a box .

a bottle .

a packet .

a carton .

a crate .

a barrel .

a container load .

a jar .

21

3. how much how many Choose the correct word / expression and complete
the sentences.
How much + uncountable noun E.g.: How many rashers and sausages
How many + countable noun E.g. How much ham?
1.
2.
3.
4.
5.
6.
7.
8.
9.

4.

_______________________________ sandwiches have you got?

_______________________________ milk is there in the fridge?
_______________________________ time do you need?
_______________________________ fruit can you see on the table?
_______________________________ friends have you got?
_______________________________states are there in Mexico?
_______________________________ love do you give to your mom?
_______________________________ gobernators are there in Mexico?
_______________________________ bananas do you eat a day?

Choose a word to fill each space.

a few

a little

much

some

many

a lot

22

1. How ________children do you and Tony have?

2. We only have__________ carrots. We should go and buy some more.
3. "Do we need any mushrooms?" "No, we have ________. Look, three bags!
4. When you make the pie, put_________ wine in too. But not too much! It
5.

makes it really tasty.

6.

7. I have been to America times. Twice in 1996 and again last year. Can you
8.

give me_________ information about the buses in the city centre please?

9.
10. _________people think he is stupid, but he's actually quite intelligent.
11.
12.
13.
14.
15.
16.
17.
18.

UNIT 3

MARKETING
The management process through which
goods and services move from concept to the
customer. It includes the coordination of four
elements called the 4 P's of marketing.
.

(1) identification, selection and development of a product,

(2) determination of its price,

(3) selection of a distribution channel to reach the customer's place, and

(4) development and implementation of a promotional strategy.

Marketing is based on thinking about the business in terms of customer needs and their
satisfaction. Marketing differs from selling because (in the words of Harvard Business
School's retired professor of marketing Theodore C. Levitt)

"Selling concerns itself with the tricks and techniques of getting people to exchange their cash for
your product.

VOCABULARY
1. Label them .SLOGAN / LOGO / TARGET / PRODUCT / SEGMENT / BRAND

____________
___________

____________

______________

______________

_____________

2.

Complete sentences 1-8 with endings a-h.

1 The words of this slogan are .

2 Whats the best known .

well have to modify our strategy

3 Rich retired people is the segment....

.

b your company logo?

c brand of soft drink in the w

4 It doesnt only appeal to kids .

d we wont attract more customers.

5 Unless we extend our product

range, .

e projecting a sophisticated image

6 Who designed .

7 If we want to penetrate the US,

g but older people like it too.

8 They are trying to launch it by

h easy to remember.

that we should target!

3. Underline the stressed sound in each of these words, as in the example.

strategy
penetrate

logo
slogan

image

target

segment

product
appeal

4. Listen and check, then practise reading the sentences in 1 above aloud. Pay attention to
your pronunciation of the words in italics.

5. Which of the words or expressions in italics in 1 means:

1 a part of a market? ..
2 the symbol / group of letters used to identify a companys products?

3 the general idea or impression that costumers have of a product?

4 a series of items which give customers a choice? ..

5 to aim at an objective? ..
6 to introduce a new product to the market, often with advertising?
7 a make of products easily identified by its name or design?
8 to enter a market and obtain a share of it? ..
9 to be attractive to someone? ..
10 a phrase or sentence customers will associate with a product?
11 a future long-term plan of action? ..

6.Which of the verbs does not match each noun?

1. PRODUCT

2. BRAND

a) influence

a) establish

b) design

b) create

c) sell

c) build

d) advertise

d) open

3. AN IMAGE

4. AWARENESS

a) distribute

a) raise

b) have

b) heighten

c) project

c) pick up

d) present

d) increase

7. Advertising essay. Fill in all the gaps with:

Consumers, encourages, exposure, inundated, logos, product, promote, regulate,

television.
In todays material world, we are ________________with various forms of advertising. In my
view, this can be dangerous as it _______________ us to spend without thinking and young
people,
in
particular,
need
some
protection
from
it.
The first point to make is that advertising does make us spend money we do not need to.
There are nowadays so many different ways companies _____________
their products
and services, ranging from _________________
commercials to simple flyers that we
cannot escape it. If, for example, you watch a football match on television, you will see
the______________
of the tournament sponsors. Likewise, if you watch the latest
blockbuster movie, very probably you will see a _______________
placed in the film by
some advertising agency. The volume of this advertising means that we, as _____________ ,
tend
to
be
profoundly
influenced
by
it
and
buy
without
thinking.
It is not easy to decide how to ________________ advertising. Clearly, governments ought
to restrict advertisements for harmful products such as alcohol and tobacco. They do not
have the power, however, to control other forms of advertising. This means we need to use
our commonsense when we go to the shops, and ask ourselves whether we really need to
make that purchase. Parents should, however, ensure that young people are protected from
too much __________________ to advertising. This can mean simply explaining that it is
not in fact necessary to buy the newest Xbox, or simply turning the television off.
My conclusion is that while we cannot escape advertising or its effects in the modern world,
children should be encouraged not to pay too much attention to it.

READING

A. Read the following article about The Product Life

Cycle.

The Product Life Cycle

A new product progresses through a sequence of

stages
from introduction to growth, maturity, and decline. This
sequence is known as the product life cycle and is
associated with changes in the marketing situation, thus impacting the marketing strategy
and the marketing mix.
Introduction Stage
The firm seeks to build product awareness and develop a market for the product. The impact
on the marketing mix is as follows:

Product branding and quality level is established.

Pricing may be low penetration pricing to build market share rapidly.

Distribution is selective until consumers show acceptance of the product.

Promotion is aimed at innovators and early adopters.

Growth Stage
The firm seeks to build brand preference and increase market share.
Product quality is maintained and additional features may be added.
Pricing is maintained as the firm enjoys increasing demand with little competition.
Distribution channels are added as demand increases and customers accept the product.
Promotion is aimed at a broader audience.
Maturity Stage
The strong growth in sales diminishes. Competition may appear with similar products. The
primary objective at this point is to defend market share while maximizing profit.
Product features may be enhanced to distinguish the product from that of competitors.

 Pricing may be lower because of the new competition.

Distribution becomes more intensive.
Promotion emphasizes product differentiation.
Decline Stage
The firm has several options:
Maintain the product, possibly rejuvenating it by adding new features and finding new uses.
Harvest the product - reduce costs and continue to offer it, possibly to a loyal niche
segment.
Discontinue the product, liquidating remaining inventory or selling it to another firm that is
willing to continue the product.

B. Answer the following questions.

1. What are the stages of the product life cycle?

____________________________________________________________

2. In which stage does the strong growth in sales decrease?

____________________________________________________________

3. If you were the owner of a company, what would you decide if your product is in the
decline stage?

GRAMMAR
SIMPLE FUTURE WITH WILL GOING TO
WE USE WILL
to express a spontaneous decision (made at the
moment of speaking)
e.g.
- John: Have you forgotten? It's my birthday today!
- Sam: Oh, no! I'm sorry! You know what? I'll buy you a beer!
NOTE: We often use I think I'll or I don't think I'll, like
-

I'm thirsty. I think I'll have a glass of wine.

to
offer
something

to

do

e.g.
- Sam: My bags are so heavy. I've been shopping all day for Christmas!
- John: Hey, wait, I'll help you with your bags!
to
speak
future facts

about

e.g. The next Olympic Games will be in London.

TO BE GOING TO
positive: I am (=I'm) going to visit my ex-boss at the weekend.

negative: They are not (=They're not OR They aren't) going to give me a pay-rise this year,
I already got one last year.
question: Are you going to visit your ex-boss at the weekend, too?

WE USE TO BE GOING TO
for predictions; when we say something is going to happen in the future based on
what we see today
e.g. Look at their new TV advertisement! It's so good they're going to become market
leaders within weeks!

to speak about something we have decided to do

e.g. I've
heard
about
their new product everybody's fascinated by it. I'm going to buy one myself next week.
NOTE: SOMETIMES THERE IS NOT MUCH DIFFERENCE BETWEEN WILL AND TO
BE GOING TO.
e.g.
I think their new brand will become successful.
=
I think their new brand is going to become successful.

1 Will or Going to? Choose the correct answer

1 I feel really tired. I think I ______ go home.
'll
'm going to
2 Where are you going?
I ______ visit a customer.

'll

'm

going to

3 Do you want me to help you?

No thanks. John ______ help me.
'll
4

's going to

Can you help me with this? I don't understand.

I ______ give you a hand as soon as I've finished this.
'll

'm going to

Would you like to come to my house for dinner and talk about this?
Good idea. I ______ bring some wine.
'll

I've already decided. I ______ set up a new business

'll

'm going to

'm going to

What are your plans for next week?

I ______ to fly to New York on business. Probably on Tuesday but I haven't bought
my ticket yet.
'll

's going to

Why are you wearing your best suit?

I ______ have a meeting with my biggest customer.

'll

'm going to

Look! There's smoke coming out of the photocopier.

You turn it off and I ______ phone the safety officer
'll

10

'm going to

Did you phone Michael?

I'm sorry. I completely forgot. I ______ do it now.
'll

's going to

2. The last marketing-campaign was not really successful.

The organisers of that campaign have therefore come together
to discuss what went wrong. Now they are explaining what's
going to be different in the next campaign.
Complete the sentences in Future I with going to.

1 Question: What (change / you ) ____________

in the next campaign?

2 Answer: We (start) ______________planning the campaign earlier.

3 And we (focus) _______________ on a specific target group.
4 Question: How (do / you) __________________that?

5 Answer: We (cram / not)

___________________

that much information into our

campaign.
6 Instead, the campaign (leave)

_____________

7 Question: Which target group (reach / you)

just one clear message.

___________ ?

8 Answer: Our next campaign (target) _______________

at housewives aged 30 to

40.
9 Question: How (get / you)

______________

these prospects to buy our products?

3.Complete the following sentences with the appropriate form of will/to be

going to + the verb in brackets.
1 Look at the sky! I'm sure it . (snow).
2 Do you think he (marry) me?
3 Oh, no! I've missed my bus! Now I. (not get) to the meeting on
time!
4 Next year they (enter) the Asian market.
5 You have a headache? I (give) you an aspirin.

UNIT 4
Money and
Negotiation

1. Discuss these questions in groups or as a class.

1 Do you always have to pay the full asking price for goods and services or are they
negotiable?
2 Does this depend on the type of goods or services you are buying?
3 Are negotiations or price lively and noisy or businesslike and quiet?
4 Are you a good negotiator?

VOCABULARY

1. Complete sentences 1-4 with a-d.

1 The union is negotiating .

a in know artists work.

2 I haggled .

b for better pay and

3 I swapped the white car .

4 She deals .

conditions.
c over the price of the carpet.
d for a blue one

2. Which of the words in italics in 1 above:

4 describes the regular business activity of buying and selling products?
5 means to discuss in order to make an agreement? ..
6 means to argue a price in lively and noisy way? ..
7 is an informal way of saying exchange? ..

3. H o w s your h a g g l i n g ?
1 The tablet youve reserved in a restaurant wont be ready for half an hour. Do
you:
a smile and wait?
b say that you will never use the restaurant again?
c suggest that you should get free drinks as a concession for waiting?
2 You pay 1,000 to do a computing course which is a waste of time. Do you?
a forget about it?
b ask for a refund?
c ask for a refund plus compensation?
3 A poor person is selling a painting for 100 which is worth five times as much.
Do you?

a tell them the full value of the painting?

b pay their asking price and be happy it was a bargain?
c offer 75, take it or leave it?
4 You want to do a course of twelve driving lessons. Each lesson costs 50. Do
you?
a ask for 10% off the price of each lesson?
b ask what discountis available for a course of twelve lessons?
c book ten lessons and ask for two extra free lessons?

4. Look at the questionnaire opposite.

1 Which of the words in italics means:

a a very good price? ..
b in return of something? ..
c repayment? ..
d a reduction in price? ..
e money for your inconvenience? ..
2 Do the questionnaire, then discuss your answers with partner.

5. Complete these sentences using a word built around negotiate. (negotiationsnegotiable-negotiating-negotiator)

1 She is a really tough Shell always get us the best deal.

2 have broken down between government and the train drivers.
3

Never forget that .. is a science; there are techniques

you can learn.
4 Im sorry, the price is not .., youll have to take it or leave it.

READING

1. How easy do you think it is to raise capital to invest in a new business? Which
people or institutions would you approach first?
2.Match the words in the box with the definitions 1-6 below.
expenditure
bankrupt

budget
income

cash flow forecast

business plan

1 the money coming into a business ..

2 the money leaving a business ..
3 a financial projection showing when 1 and 2 will happen ..
4 a plan of how to spend money over a period of time ..
5 what you become if you cant pay what you owe ..
6 a document which explains you project and how it will succeed ..

One of the biggest difficulties most new businesses face is raising capital. Unless it
weve already got money. Well have to persuade other people or institutions to part
with theirs. Some people automatically approach their families. Do carefully though
before asking family members to trust you with their life savings. If the business fail,
how will you tell them? Another possibility is to find a business angel, someone who is
prepared to invest in return for a share in the business. Sadly, angels are in short
supply. You can use a credit card, of course, but after loan shark this is the most

expensive way of financing your borrowing. This leaves us with our bank manager who
should be at the top of our list if we want to negotiate a loan.
Banks are in the business of lending money, so youll get a polite and fair hearing. Fine
words wont be enough to talk them into giving you a loan. While theyll expect to see
enthusiasm and energy, evidence that youve thought seriously about your proposal is
essential. An intelligent business plan is the most convincing argument of all. Establish
realistic budgets and work out what the absolute minimum is that you need to live on.
A cash flow forecast is vital. So give details of your projected income and expenditure,
and have an idea of how long it will take you to break even. If you can supply evidence
of firm orders or contracts, so much better. Be prepared, though, for some tough and
searching questions from your bank manager. If your ideas dont support a reasonably
friendly examination, they probably wont make business sense either.
Before agreeing a loan, banks will want to see your own financial commitment to the
success of your business. You must be prepared to put your money where your mouth
is. After all, if you were in the bank managers position, you would probably act in the
same way. Theyll also want some kind of security like your car or house. Therefore, if
things go wrong you could find yourself out in the street. And if the business falls, as
so many do, the bank will be the first in a long line of creditors to get their money back.
If you are declared bankrupt, it will be difficult to secure any furthers loans and finally,
on a darker note, once bank have make a decision to get their money back, is hard to
talk them out of it.

3. Read the second paragraph.

1 What kind of reception can you expect at a bank?

2 What is more important than enthusiasm?
3 What should you take to your loan interview?
4 What can you expect to happen during the loan interview?
5 What should the bank managers question show?

4. Read the final paragraph and decide is the statements are true (T) of false (F).

1 Loans can be secured on your property. .

2 Most small businesses are successful. .

3 If your business fails, the bank will not hesitate to lend you more money. .
4 You could lose your home if you dont pay back your loan. .
5 Creditors are people and organizations that owe you money. .

GRAMMAR
1ST AND 2ND CONDITIONAL
First conditional
We use the first conditional when we talk about real and possible situations.

Ill go shopping on the way home if I have time.

In first conditional sentences, the structure is usually
if + present simple and will + infinitive. Its not important which clause comes first.

Second conditional
The second conditional is used to talk about unreal or impossible things.

If I won a lot of money Id buy a big house in the country.

The structure is usually if + past simple and would + infinitive. Its not important which
clause comes first.

1.
Look at the examples of a 1st conditional (a) and 2nd conditional (b) sentence
below.

a If the business fails, how will you tell them?

b If you were in the bank managers position, you would probably act in the same
way.
1 Identify the if-clause and result clause in each.
2 Which tenses are used?
3 In which sentence is the result of the if-clause likely or automatic? .

4 Which sentence describes an imaginary or hypothetical situation? .

2.

Change the verbs in brackets to make 1st or 2nd conditional sentences.

1 I .. (be) an extremely rich woman if I
.. (know) the answer.
2 If you .. (be) late, we .. (never
place) another order with your company.
3 If I .. (be) the Managing Director of this company, I
..(make) some important changes.
4 If we .. (be able) to deliver next week,
.. (you give) us the contract?
5 Unless you .. (meet) your targets, we
.. (have to) let you go.
6 Just imagine what we .. (do) if we
.. (manage) to get into their computer system!
7 Dont be a fool! You .. (lose) your money overnight if you
.. (invest) it in that firm.
8

Unless you .. (get) good financial advice, you

..

(pay) far too much tax!

9 I .. (be) bankrupt if I .. (take) out
another loan.
10 We .. (not sell) the new range unless we
.. (cut) our prices.

Y O U R T U R N!

Work in pairs of groups. Talk about these questions, using if or unless in your
answers.
If you started you own business, what would it be?
What one thing would improve your life the most?
What would happen if your country went bankrupt?
What will happen as people retire younger but live longer?
Which famous business person would you most like to meet?
What would happen if the working week is reduced to thirty hours?
What one thing would you change about your past life?

What will happen if global warming continues?

UNIT 5
MARKET RESEARCH
is the process of systematic gathering,
recording and analyzing of data about
customers, competitors and the market.
Market research can help create a
business plan, launch a new product or
service, fine tune existing products and
services, expand into new markets etc. It
can be used to determine which portion of
the
population
will
purchase
the
product/service, based on variables like
age, gender, location and income level.

VOCABULARY
1. Match the words with their definitions.
Sample, jingle,voice-over, mailshot , gimmick, token, attitude promotion, consumer,
campaign, commercial.
1.
2.
3.
4.
5.
6.
7.

A small amount of a product which is given away so that people can try it. SAMPLE
Your ____________ towards something: what you think or believe.
The commentary in a TV commercial from an invisible speaker.__________
A piece of plastic or paper which can be exchanged for something else.__________
Another name for a radio or TV advertisement.___________
The act of making a product known and selling it.__________
An idea which is used to catch peoples attention and make them buy
something.________
8. A buyer of goods and services.__________

9. A letter and advertising material and which is sent to a list of people who usually have
been selected and targeted.___________
10. The plan of a series of actions to advertise a product._________
11. And easily-recognizable and easily-remembered song or piece of music which goes
together with commercial.________

2. Complete the sentences with words from the box.

jingle
position

gimmicks
token

promotion
mailshot

campaign
voice-over

1. Firms have to think carefully how to .. their products; in other

words to know which segment of the market they want to target.
2. Witch actor did the .. for the commercial? His voice sounds familiar.
If you give the cashier the .. from this packet, youll get the next one at halfprice.
3. We dont believe in stupid ..; we just give our customers first- class
service
4. I think we should use local radio for our next advertising
5. I cant stop singing that stupid .. for cornflakes! I cant get the tune out
of my head!
6. There was an excellent response to our last ..; we sent 3,000 letters
and got 400 replies.
7. Our next sales .. will include a special discount of 20%.
3 . Look at the pictures and write the correct method of research. Survey questionnaire,
dustbin survey, focus group, blind testing.

__________________ _________________ _________________ __________________

4. Complete the text below with words and phrases from the box.
dustbin survey
focus group
attitudes

samples

survey

consumers
perceive

blind

questionnaires
market research

Organizations which want to find out how the public

products or services usually carry out
..,
..,

where
is

some from of

passers-by
the

most

.. their

.. A street

answer

questions

common

method.

or

complete

Another

is

.. testing, where volunteers taste and analyse anonymous

.. of food and drink. A

3
4
5
6

.., where a

researcher visits households and studies the labels of the products which have been
consumed, is useful for longer-term research. A very sophisticated technique is to run a
8

... This is where a researcher encourages a group of

.. to discuss their

10

.. to different products.

This discussion is secretly observed and often filmed.

4. Match the statements about the imaginary country of Ciberland (1-10) with their
meanings (a-j)
_____1. . There are 20 million people in Ciberland who want to work. One
million do not have jobs.
______2. Some industries are privately owned and some are stated owned.
______3. Last year the size of the economy was $100 billion. This year is
$101 billion.
______ 4. Prices are much higher this year than last year.

______ 5. Banking, insurance and tourism, etc are important to the countrys
economy.
______ 6. But the production of cars, machine tools, white goods, etc, is still
the most important part of the economy.
______ 7. At the moment, the economic situation is bad. There is a danger
that the economy will get smaller, not bigger this year.
______8. Most working people have to pay about a third of their income to the
government.
______ 9. Today you can buy 10 Cibers for one dollar. Last year it was the
same.
_____10. Two million workers are members of labour organizations.

a) The EXCHANGE RATE is stable.

b) The standard RATE OF INCOME TAX is 30%.
c) The MANUFACTURING SECTOR is larger than the service sector.
d) The UNEMPLOYMENT RATE is 5 %.
e) People are afraid of RECESSION.
f) The GROWTH RATE was 1 %.
g) The economy has a large SERVICE SECTOR.
h) TRADE UNION MEMBERSHIP is about 10 % of the whole workforce.
i) Ciberland has a MIXED ECONOMY.
J) The RATE OF INFLATION is high.

5. Look at some of the different ways of presenting data.

1 Match the pictures 1-4 to

a-d.
a graph .
b table .
c bar chart .
d pie chart .

2 Choose the best way of presenting this data.

a The way a household spends its weekly budget. .
b Progress of the sales of a book for a five-year period. .
c A league of examination results for schools in your area. .
d The comparison of two years sales results across a range of

READING

products..

MARKET RESEARCH GROUPING

RECENT TREND IN MARKET RESEARCH
In the past, marketing and advertising decisions were often based on an analysis of socioeconomic categories. These are categories into which the population is divided. The categories
include how much money people have and their likely tastes. Nowadays, other more
sophisticated techniques are used. These are segmenting techniques which try to assess
consumers' psychological make-up and not their social Class or group. The old technique of
using socio-economic categories did not account for the fact that some people drive very
expensive cars, while, at the same

time, wear very cheap watches. Modern marketers

recognize that , nowadays, there is often no overall consumer type.

Marketers also need to take into account demographic patterns, such

as the breakdown of

the two-parent family and the reduction or growth in certain age groups .
Many companies keep a database of customers who have shown an attachment to particular
brands. Use of and attitude to certain products tell a company more about what the customer
is thinking than the socio- economic category to which s/he belongs . After all, certain brands
or products are bought by people from a wide range of social and economic backgrounds.
1 Read again and answer the questions
1. What was marketing and advertising decision based on?
_____________________________________________________________________
_______________________________________________
2. What techniques are used nowadays?
_____________________________________________________________________
_______________________________________________
3. Why did not the old techniques work?
_____________________________________________________________________
_______________________________________________

GRAMMAR
RELATIVE PRONOUNS AND CLAUSES
1. Study sentences a-d below. Which of the relative pronouns underlined
refers to.
1.
2.
3.
4.

a person? ..
a thing ? .
a place? .
possession?.............

a. These are segmenting techniques which try to assess consumers' psychological

make-up and not their social Class or group.
b. Many companies keep a database of customers who have shown an attachment
to particular brands
c. He is the manager whose secretary complained to the union.
d. Thats the office where your mother used to work.
2. Choose the correct answer
1. Be sure to speak to our tourist guide,
a. where you can have cod and chips.
b. who will deal with it as a top priority.
c. who will tell you about interesting places to visit.
d. which provides an excellent selection of snacks and drinks.
e. where you can enjoy a pint of bitter.
2 There is a fax machine at the front desk,
a. where you can unwind over a few drinks.
b. who will look after your small children whilst you go shopping.
c. where you can relax over a gourmet meal.
d. which will clean your clothes overnight.
e. where you can send and receive faxes.
3 There is a typical English fish and chip restaurant,
a. where you can have cod and chips.
b. who provides a manicure service in your room.
c. which will take you to and from the airport
d. which provides an excellent selection of snacks and drinks.
e. where you can enjoy a pint of bitter.

4 There is 24 hour room service,

a. where you can get seats for all the hit shows.

b.
c.
d.
e.

who provides a manicure service in your room.

which will take you to and from the airport
which provides an excellent selection of snacks and drinks
where you can send and receive faxes.

5 There is a team of highly qualified secretaries available,

a. where you can unwind over a few drinks.
b. where you can sweat out the dirt from the City.
c. where you can get your hair done.
d. where you can keep fit.
e. who will help you with your paperwork

3. make single sentences from these pairs by using a relative pronouns

1. This is a machine. It revolutionized tool making.
________________________________________________________________
2. There the factory. Your grandfather used to work there.
________________________________________________________________
3. They have launched a new mobile phone. It is called Bell south.
________________________________________________________________
4. Thats Gina Core. Her promotion was a complete disaster.
________________________________________________________________
5. Ill always be grateful to Mr. Villegas. He gave me my first job.
________________________________________________________________

UNIT 6

INVESTMENT

VOCABULARY

1. Put a word in the box which means the same as the definition on
either side, as in the example.
portfolio, Issue , stock, capital, , share ,commission, float.
1 An important topic
issueto produce shares for
investment
2 To divide up between people
____
a small portion of a
company
3 What ships do on the water
____ to issue shares in a
company
4 What shops keep in reserve
____ another word for
shares
5 London, Paris , Tokio are this kind of city ___ money to invest in
business
6 Example of an artists or designers work ___ range of shares kept
by investors
7 An army officer has one
____ a sales percentage
earned by the Salesperson

2. Choose the correct term in brackets.

1 _____have started to sell their shares because of poor company
results.
( invest/ investor/ investment)
2 JM Keynes was one of the worlds most influential
____(economist/economy/economic)
3 At the annual general meeting the ____who have invested in the
company hear a statement from the chairman. (share/shareholders)
4 I dont understand very much about _____matters. (finance /financial)
5 You should have a range of ____, its dangerous to put all your money
in one or two companies. (investor/investments/ invest)
6 Good politics can be bad _____. (economists/ economics/economy)
7 The USA and Germany are powerful ____economies.
(capital/capitalist)
8 She was one of the earliest female____ to work in the City of London.
(stock/ stockbroker)

3. Read the text below and find the words of expressions in italics
which mean:
1 the many portions into which a companys capital is divided.

2 where shares are bought and sold according to a set of fixed rules.
3 an investors selection of shares.
4 the income produced by successful share.
5 money for a service, often a percentage of the value of the business
done
6 to offer company shares on the stock exchange for the first
time
7 a professional dealer in shares.
8 an investor who owns shares in company.

Big companies wishing to raise capital can issue shares and float
themselves on the stock market. People who buy these shares are known
as shareholders. Stockbrokers act as middlemen between investors and the
stockmarket. They receive a commission or fee for their services. They may
also manage their clients investments. Wise investors spread their risk by
buying shares in a range of different companies. This range of shares
makes up what is known as a portfolio. Share values can rise or fall of
course, but investors always hope that the company will make enough profit
to be able to pay its shareholders a dividend.

4. Match the pairs.

____ 1. strategic

a. movement

____ 2. venture

b. gains

____ 3. stock market

c. alliance

____ 4. business

d. angel

____ 5. financial

e. capitalist

____ 6. business

f. portfolio

____7. investment

g. venture

5. Complete the table

ADJECTIVE

6.

NOUN

1. stubborn
2.

entrepreneur

3. bankrupt
4.

ethics

5. intuitive
6.

risk

7. analytical
8.

diversification

Choose the best answer.

1. Asset ___________________ involves dividing an investment portfolio
among different asset categories, such as stocks, bonds, and cash.
a. allocation
b. collocation
c. information
2. ___________________ investor is more likely to risk losing money in
order to get better results.

a. A passive
b. A timid
c. An aggressive
3. What's the opposite of an aggressive investor?
a. A concerned investor
b. A conservative investor
c. A cornered investor
4. Proponents of diversification believe that you shouldn't put all your eggs
__________.
a. in one basket
b. in one bag
c. in one backpack
5. A mutual fund is a form of ___________________ investment that pools
money from many investors and invests their money in stocks, bonds, and
other securities etc.
a. collective
b. collected
c. collated
6.

commodity

is

something

that

is

____________________. (eg.rude oil, sugar, gold, etc.)

a. trained
b. traced
c. traded

relatively

easily

7. What are the __________________ risks associated with this

approach?
a. money-losing
b. financial
c. financier

7. Match the words in italics in sentences 1-6 with the definitions a-h
below.
1 His temperature rose so we called the doctor.
2 The bird opened its wings and soared into the sky.
3 Jenny fell from the bridge and plummeted towards the river.
4. The balloons height dropped, but then it leveled off, and remained steady
for the rest of the flight.
5 When the dog came into the garden, the cat jumped into the three.
6 The mountain peaked fifty meters above the climber.
a moved suddenly ..
b decreased ..
c went up dramatically ..
d increased ..
e stayed the same ..
f reached its highest point ..
g stopped rising or falling ..
h fell dramatically ..

8 One of the most dramatic events in financial history was the Wall
Street Crash of 1929. Study the graph which shows the value of

shares before and after the crash, and complete the text by using one
of the verbs from 3 above.

The value of shares 1 .. steadily in the years

from 1923 and early 1925. They then
early

1927.

All

of

.. until

sudden

.. and kept on
3rd September 1929 the market

share
4

values

started

to 3

.. On

.. by 5% in

just one day. Prices finally 6 .. a few days later.

Then crash came on 29 October (known as Black Tuesday), when
values

.. On that one day, a record

16,410,030 shares were traded on the US exchanges and thousands of

people

were

ruined.

By

December

values

had

.. to just over 200 points and the worlds

capitalist economies had entered the Great Depression.

READING
ANGEL INVESTOR
Angel investors provide capital for start-ups bringing their innovations to the
marketplace. Recently, with the huge growth in opportunities brought about
by the internet, more and more small investors are providing 'angel' financing
for these small, nimble companies. Angel investors typically invest between
$5,000 to $40,000 in a start-up in its infancy. Sometimes, 'angels' are so
convinced by an idea that they provide funds for a business that hasn't even
been founded! Without these risk-takers, innovative and revolutionary
advances in technology may not come to pass. The price is high, and startups often fail, but just one 'winner' can return twenty times the initial
investment. In other words, an angel investing in fifteen companies needs
just one success to make the investment strategy worthwhile. Of course,
angels hope for a much better return. Because these investors at the
beginning of the company there are many terms used in angel investing that
reflect this early stage development. Here are some of the most important:

seed a company - the first 'seed' of money to help 'grow' the company

get in on the ground level - lowest level entry point

self-funded - a company that provides its own financing without asking for
outside help

garage startup - the classic technology started - Steve Jobs and Steve
Wozniak started Apple in a garage - it's become a modern day 'American
dream' of many - especially in San Francisco)
Angel investing is sometimes confused with venture investments. Angel
investors fund at the initial entry level while venture capitalists usually wait
until a young company has proven that their idea and has brought their
product or technology to market. These companies then need larger
investments to quickly grow and capture market share.
Key Vocabulary and Collocations
angel investor
start-up
innovation
capital
to bring about
nimble
to found a business
risk-taker
to come to pass
initial investment
worthwhile
return (on an investment)
early stage development
to seed a company
to get in on the ground level
self-funded
venture capitalist
bring a product to market
to capture market share
1 Read again and choose the correct answer

1 Which statement is true?

a.

Angel investors provide capital for established companies.

b.

Angel investors provide capital for companies that have

succeeded and need to grow their market share.

c.

Angel investors provide capital for companies that are in

their early stages of development

d.

Angel investors provide capital for companies that are in

their early stages of development.

2 What is a typical investment for an Angel?

a. $25,000
b. $2 million
c. $100
3 What will Angel investors sometimes do?
a. Invest in companies that haven't been founded.
b. Invest in companies that are going out of business.
c. Invest in companies that have established a large market share
4 Do angels expect all their investments to succeed?
a. Yes
b. No
c. Do not say
5 Why are angel investors willing to take such high risk?
a. If a start-up succeeds it can deliver up to twice the investment amount.
b. If a start-up succeeds it can deliver up to twenty times the investment
amount.
c. If a start-up succeeds it can return the initial investment amount
6 'Seeding a company' means:

a. to provide initial investment

b. to provide late stage investment
c. to save a company from going bankrupt
7

In a best case scenario, how much might an angel make on a

successful start-up investment of $50,000.

a. $80,000
b. $2 Million
c. $150,000
8
a.
b.
c.

Which example is given of a 'garage' start-up?

Google
Microsoft
Apple

9
a.
b.
c.

Venture capitalists are:

the same as angel investors.
different types of investors than angel investors.
people who create start-ups.

10
a.
b.
c.

Venture capitalists help a company to:

capture market share.
begin a company.
go into bankruptcy

GRAMMAR:
MAKING COMPARISON

There are some rules to help you make comparisons in English.

1 If the adjective (describing word) is one syllable, you can add -er.
For example, small smaller; big bigger; nice nicer.
2 If the adjective has two syllables, but ends in -y, you can change the
end to -ier.
For example, lucky luckier; happy happier.
3 With other English adjectives of two syllables and more, you can't
change their endings. Instead, you should use more + adjective.
For example, handsome more handsome; beautiful more beautiful
and so on.
4 When you compare two things, use 'than'.
"She's younger than me."
"This exercise is more difficult than the last one."
5 When you want to say something is similar, use 'as as'.
For example, "She's as tall as her brother" or "It's as nice today as it was
yesterday."
6 When you want to say one thing is less than another, you can either
use 'less than' or 'not as as'.
For example, "This programme is less interesting than I thought" or "This
programme is not as interesting as I thought."
7 Remember that some adjectives are irregular and change form when
you make comparisons.
For example, good better; bad worse; far further.

1 Business Writing Comparative Adjectives .

1.Writing an email is ________________ than writing a letter. (quick)

2.Sending a postcard is ________________ than sending a letter.
(cheap)
3.Minutes written in shorthand are ___________________ to read
than minutes
written in longhand. ( difficult)
4.A message left on your answer machine is __________________
to ignore
than a note stuck on your computers screen. (easy)
5.The paper you print out a memo on is usually _______________
than the
paper you write a note on (big)
6.In my country, sending texts is ____________________ than
sending emails (
popular)
7.Using emoticons is ___________________ than using
abbreviations and
acronyms. (friendly)
8.Writing an SMS with your thumb is ____________ than writing an
email on a
computer keyboard. (slow)
9.Cancelling a meeting by texting someone is _______________
than
cancelling a meeting by leaving an answer on their answer
machine. (bad)
10. ___________________________________________(expensive
)
11. _________________________________________________(ho
t)
12. _______________________________________________(pretty)

Business English Regular Verbs

1. accept

21. convince

41. increase

2. add

22. count

42. inform

3. admit

23. decide

43. install

4. advertise

24. decrease

44. invest

5. advise

25. deliver

45. invoice

6. afford

26. develop

46. join

7. approve

27. discount

47. lend

8. authorize

28. dismiss

48. lengthen

9. avoid

29. dispatch

49. lower

10. borrow

30. distribute

50. maintain

11. calculate

31. divide

51. manage

12. cancel

32. employ

52. measure

13. change

33. encourage

53. mention

14. charge

34. establish

54. obtain

15. check

35. estimate

55. order

16. choose

36. exchange

56. organize

17. complain

37. extend

57. owe

18. complete

38. fix

58. own

19. confirm

39. fund

59. pack

20. consider

40. improve

60. participate

61. pay

72. reach

83. return

62. plan

73. receive

84. rise

63. present

74. recruit

85. sell

64. prevent

75. reduce

86. send

65. process

76. refuse

87. separate

66. produce

77. reject

88. shorten

67. promise

78. remind

89. split

68. promote

79. remove

90. structure

69. provide

80. reply

91. succeed

70. purchase

81. resign

92. suggest

71. raise

82. respond

Irregular verbs
Verb (infinitive)

Past simple form

Past participle

become

became

become

begin

began

begun

break

broke

broken

bring

brought

brought

build

built

built

buy

bought

bought

catch

caught

caught

choose

chose

chosen

come

came

come

cost

cost

cost

cut

cut

cut

do

did

done

draw

drew

drawn

drink

drank

drunk

drive

drove

driven

eat

ate

eaten

fall

fell

fallen

feed

fed

fed

feel

felt

felt

fight

fought

fought

find

found

found

fly

flew

flown

forget

forgot

forgotten

forgive

forgave

forgiven

get

got

got (BrE) / gotten

(AmE)

give

gave

given

go

went

gone

grow

grew

grown

have

had

had

hear

heard

heard

hide

hid

hidden

hit

hit

hit

hold

held

held

know

knew

known

learn

learned

learnt/learned

leave

left

left

lend

lent

lent

lose

lost

lost

make

made

made

mean

meant

meant

meet

met

met

pay

paid

paid

put

put

put

read

read

read

ride

rode

ridden

rise

rose

risen

run

ran

run

say

said

said

see

saw

seen

sell

sold

sold

send

sent

sent

set

set

set

show

showed

shown

sing

sang

sung

sit

sat

sat

sleep

slept

slept

speak

spoke

spoken

spend

spent

spent

stand

stood

stood

steal

stole

stolen

swim

swam

swum

take

took

taken

teach

taught

taught

tell

told

told

think

thought

thought

throw

threw

thrown

understand

understood

understood

wear

wore

worn

win

won

won

write

wrote

written

GLOSSARY:
Agenda: a list of items to be
discussed at a meeting, and their
order of discussion

approach: a way of doing

something or dealing with a
problem

agree a deal: to reach agreement

at the end of a negotiation

approval: somebodys good

opinion of something that you have
suggested

appeal: to be attractive or
interesting
applicant: a person who applies
for a job
application form: a printed form
sent out by an organization , on
which a formal request is made

asking price: the price that

somebody wants to sell something
for
assembly plant: a factory where
part of products are put together
attachment: a document that you
send to somebody to an email

available: if something is
available, you can get, buy or find
it
back: to give help or support to
somebody, for example money for
a project
balance of trade: the difference
between the value of a countrys
imports and its exports
balanced portfolio: a set of
shares that somebody has bought
in a range of companies in order to
reduce the risk of their value all
falling at the same time
bankrupt: when a business goes
bankrupt it fails because it cannot
pay its debts
bar chart: a diagram which uses
columns of different heights to
show quantities
barter: to exchange goods,
property, services,etc. for other
goods, etc. without using money
bear market: period during which
people are selling shares, etc.
because they expect the prices to
fall
bid: an offer to buy something,
especially in competition with other
buyers
bling testing: a market research
technique where people try
products without knowing what
they are, and make comments
bond: a document from a company
or government promising to repay
with interest a sum borrowed form
an investor
boom: a period of wealth and
success

boycott: a protest by refusing to

buy or handle certain goods
brainwave: a sudden good idea
branch: a local office or store
belonging to alarge company or
organization
brand: a type of product or group
of products sold using aparticular
name
Break even: to do business
without making a loss or a profit
breakthrough : an important
development or discovery which
solves a problem or changes the
way we do something
bribery: illegally and secretly
giving or taking money in order to
get or receive help
bring out: to introduce a new
product or service to the market
broker: a person who buys and
sells shares for other people
bull market: a period during which
people are buying shares, etc.
because they expect their price to
rise
bureaucracy: the system of
official rules of ways of doing things
that an organization or a
government has, especially when
this seem to be too complicated
campaign: a series of planned
activities with a particular aim, for
example to market a product
capitalist economies : country in
which businesses and industries
are controlled and run for profit by
private owners rather than by the
government

cargo: a load of good carried on a

boat or plane

end negotiation and get a customer

to buy something

carry out: to perform a task or

duty

come out with: to make a product

or service available for the first
time

carton: a light cardboard or plastic

box or pot for holding goods,
especially food or liquid
cash flow forecast: a prediction
of a companys income and
expenditure over a period of time

come up with: one to have an

idea or suggestion for somethingto find or produce an answer to
something

catch on : to become popular or

fashionable

commission: an amount of money

that is paid to somebody for selling
goods and which increases with the
amount of goods that are sold

catch up: to try to reach

somebody or something ahead of
you

committed: willing to work hard

and give you time and energy to
something

cease: to stop something

commodity: a product or a raw

material, such as grain, coffee,
cotton, or metals, that can be
bought and sold, especially
between countries

chair: to act as the chairperson of

a meeting, discussion, etc.
chairperson: the person who is in
charge of a meeting or committee
chase late payment: to ask
people to pay money that they owe
you but did not pay on time
checkout: the place where you
pay for the things you are buying in
a supermarket
claim: to say that something is a
fact without proving it - a demand
for payment under the terms of a
insurance policy
clicks and bricks: the
combination of an online shop and
a physical shop

counterpart: a person or thing

that has a similar position or
function in another organization
covering letter: a letter that you
send with a document, for example
a CV or a fax, explaining why you
are sending the document and
giving any other information that is
necessary
currency: the system of money
that is used in a particular country
or region
deal: a formal business agreement,
especially an agreement to buy or
sell goods or provide a service

close o deal : to reach a business

agreement on particular conditions
for buying or selling something

deal in : to buy and sell a

particular product

closing line: word that a

salesperson use when they want to

deal with: to solve a problem ,

carry out a task, etc.

decline: to become smaller,

weaker, fewer, etc.
demand for payment: an official
letter that is sent to somebody
telling them that they must pay
and amount of money that they
owe
dismiss: to remove an employee
from their job, often for poor work
or behavior
dispatch: to send goods to a
customer
dividend: a part of a companys
profit paid to shareholders for each
share they own
dump: to get rid of goods by
selling them at a very low price,
often in another country

exploit: to use a situation as an

opportunity to gain an advantage
for yourself
final demand: the last time that a
company asks for payment before
it will take legal action
financial markets: markets on
which shares, bonds,etc. are
bought and sold
free trade: international trade
without any restrictions or taxes on
imports and exports
freight: goods that are carried by
ships, planes, trains, or trucks
guarantee: to promise that
something is true or will happen
haggle: to negotiate over the price
of something

dustbin survey: a form of market

research based on consumers
keeping the wrappers and packing
of products they have bought

handle enquiries: to deal with

questions form people who want
information

enforce regulation: to make sure

that people obey rules

headhunting: persuading
somebody to leave their present
job to work for another company

enquiry: a request for information

or a question about somebody or
something
entrepreneur : a person who
makes money by starting or
running businesses, especially
when this involves taking financial
risks
equities: shares in a company
which do not pay a fixed amount of
interest but whose value may rise
or fail and pay a dividends
expand: to star operating in new
markets
expenditure: the money that a
company or person spends

image: the general idea or

impression that people have of a
product, company
income: the money tht a person , a
company, etc. earns from work or
from business
invest : to buy shares in
accompany, property, etc. in the
hope of making a profit
invoice: a list of goods that have
been sold, work that has been
done, etc., showing what you must
pay
launch: to make a product
available to the public for the first
time

lay of: if somebody is laid off, they

lose their job because there is not
enough work for them to do
leaflet: a printed sheet of paper
that is given free of charge
toadvertise or give information
about something
list price: the official published
price of a product, before any
discount has been taken off
loan shark: a person who lends
money at a very high rates of
interest
logistics: the complicated plans
involved in transporting goods to
another country
logo: a design or symbol that a
company uses as its special sign
middleman : a person who helps
to arrange things between people
who cannot talk to each other
minutes: a written record of what
is said in a meeting
negotiable : that you can discuss
or change before you make an
agreement or a decision
negotiate a deal: to discuss a
piece of business with somebody
until you reach agreement
out of stock: not currently
available for sale in a shop
outstanding: not yet paid
overdue: not paid by the required
time

patent: an official document which

gives the holder the exclusive right
to make use or sell an invention
and prevents other from copying it
peak: to reach the highest point or
value
penetrate: to successfully introduce
the products and services of a
business into a market
placement: a job often as a part of
a course of study, where you get
some experience of a particular
kind of work
plummet: to suddenly fall a long
way
pro form invoice: a list showing
the price and other details of the
products that a customer has
ordered but not yet paid
promote: to make people aware of
a product or service and want to
buy it through advertising, public
relation, or other means
promotion: a move to amore
important job in a company or an
organization
proposal: a formal suggestion or
plan
publicity stunt: something
unusual that is done to attract
attention to a product, etc.
put through: if you put somebody
through, you connect them with the
person they want to talk to on the
telephone

overstafed: having more

employees than are necessary

quota: the limited quantity of

things, for example imports, which
is officially allowed

overtime: time that you spend

working at your job after you have
worked the normal hours

raise capital: to get the money

that you need to start a business

referee: a person who gives

information about your character
and ability, usually in a letter, when
you are applying for a job
refund: money that is paid back to
you, for example if you return
goods to a shop

attention or to suggest an idea

quickly
stay ahead of the competition:
to continue to be more successful
than other companies in a market
stock: a supply of goods that is
available for sale in a shop

relaunch: to present a product

again in a different way in order to
increase sales

stockbroker: a person who buys

and sells shares for other people

remittance: a sum of money that

is sent to somebody as payment for
something

take on: if you take somebody or

something on, you employ themyou agree to be responsible for it

request for payment: an official

letter that is sent to somebody
asking them to pay an amount of
money that they owe

talk into: persuade somebody to d

something by giving them good
reasons

rival: a competitor in the same

market

token: a piece of paper that

youcan collect when you buy a
particular product and then
exchange for something

rivalry: strong competition

between two companies that are
competing in the same market

trade: to buy and sell things

sample: an example of a product

that is given to somebody to look
at or try
segment: a part or division of
something such as an economy or
a market
set up: to start something, for
example a new business
settle: to put an end to a
disagreement
shift work: a system where work
is divided into periods, each worked
by a group of workers who start
work as another group finishes
slogan: a word or phrase that is
easy to remember, used for
example by a political party or in
advertising to attract people

trend: a general direction in which

a situation is changing or
developing
trustworthy: that you can rely n
to be honest
turn around: if you turn a
business around, you make it
successful after it has been
unsuccessful for a time
turn down : refuse
turnover: the total amount of
goods or services sold by a
company during a particular period
of time
undertake: when you agree to do
something
USP: unique selling point: the
features of a product or service

which make it different from its

competitors

Yield: the amount of profit an

investment produces

BIBLIOGRAFA UTILIZADA
NAUNTON, Jon
PROFILE 2: INTERMEDIATE LEVEL
Edicin 2009 Oxford University Press
DICCIONARIO INGLES-INGLES- Intermediate Level : Oxford, Cambridge o
Longman
DICCIONARIO BILINGUE INGLES-ESPANOL / ESPANOL INGLESIntermediate Level: Oxford, Cambridge o Longman
COMPLEMENTARIA
MANN RICHAD with BELL, Jan
FIRST CERTIFICATE EXPERT
Pearson Longman
MURPHY, Raymond.
GRAMMAR IN USE - Intermediate Level
Cambridge University Press.
PYE, Glennis
VOCABULARY IN PRACTICE 4 y 5
Cambridge University
REFERENCIAS ONLINE

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