UNIT 7: NEW BUSINESS

PART 1:
1. Would you like to start your own business? Why? Why not?
I would like to start my own business because it can give a more flexible lifestyle. I
can choose my own working hours, I can work whenever I want. Taking days off
or vacation become more easier to handle
2. What conditions are important for people starting new business?
I think there are 2 important conditions. First is to have a good transport links.
Owners should put their company in a location that is easily accesible to customers
and employees can transport services or product to customers and go to work more
smoothly. Second is to recruit skilled staff. Skilled staff is who has a wide range of
knowledges and know how to help your company develop in the near future. Also,
the performance in a company is high or low depends on the staff people recruit.
3. Which new business has impressed you most in the last six years? Why?
The one impressed me the most is shoppee, because shoppee is the wonderful
choice for anyone who wants to shopping online. They not only don’t have to go
directly to the store but also can buy the products with a cheaper price, freeship,
and thousand of discounts in gold time to catch them
4. What do you think are the biggest economic problems in your country at the
moment?
Labor shortages can be the biggest problem. Because of factory closures and travel
restrictions, many workers have left their jobs. And now they still don’t have a
stable job. Another problem is the increasing in price. Especially in meditation
field, people take advantage of covid 19 pandemic to sell the mask or any kinds of
equipment with higher price. For example, normally one box of medical mask cost
30k but now it cost 90k, means cost more 3 times than normal
5. What do you think the government’s priorities should be at the moment?
After the pandemic, the government needs to come up with a policy to support
workers returning to work, such as buses to bring workers from their hometowns to
the company. Moreover, government should offer free vaccination for worker to
make them feel safe while working and reduce the amount of workers who are
infected by covid 19.
6. What is inflation rate? (tỉ lệ lạm phát)
- inflation rate is a percentage increase in price.
7. What is balance of trade? (cán cân xuất nhập khẩu)
- Balance of trade is the difference in value between a country’s imports and
exports.
8. What is GDP?
- GDP is the total value of goods and services produced in a country.
PART 2
Nowadays, there is a  booming trend of start-ups in my city; however, not all of
them are successful. One of the businesses that I think is the most successful and
impressed the most is a chain of restaurants and café boutiques name The Coffee
House
I remember that 2 years ago, they only had one store in our city but it quickly
became one of the favorite location for the teenagers to get together and have some
nice coffee. Now they have expanded with franchises in almost every corner of my
city. The fame of The coffee house is widespread not only in VietNam but also in
the rest of the world.
The owner of the chain is a young woman, who is only 31 years old. Her name is
Linda. Since I have always been interested in opening up a small café/restaurant of
my own, I admire her work a lot. She has successfully created a brand name for
real food, in the modern era.Also, she knows how to maintain her store during the
explosion of covid 19 pandemice. Every time I have visited this restaurant, I
always feel satisfied with all the products or services they have. Drinks, staff,
space inside has nothing to say.
Recently, the group announced that it had raised a 5.5 million-
dollar investment from overseas funds. This proves that The coffee house could be
becoming more and more successful in the future and expanded more store in other
countries.

PART 3
1. What sort of problems do new businesses face?
The first problem that is poor market research. A common problem for new
businesses is that the are too overestimate the size of their potential market. All
products or services always have more than one target demographics. Take an
example. A leather oxford shoes absolutely not is going to sell well with teenagers,
it would be much smarter to sell for the elderly. The second problem is people is
trying to do all the work by themselves. This way may be a great way keeps the
bugdet costs low at first, but it is not the smartest way for long-term success.
Morever, people can have stressed, depression or suicide when they have to suffer
to much pressure from work
2. What advice would you give to someone starting their own business in your
country?
For me, it is good to hire full-time employees. I agree that doing all the work by
oneself is good at first, but it is not the smartest for long-term success. When the
amount of work is increasing and they cannot handle all that work by themself. But
if they don’t have enough money, I think they just hire a experienced lawyer and
an accountant. An lawyer will help you doing some kinds of work relate to policy,
social insurance and so on. An accountant will help people organize the finacial
records and see how much money have they used for.

UNIT 8: MARKETING
PART 1
1. What is the marketing mix?
The marketing mix refers to the set of actions, or tactics, that a company uses to
promote its brand or product in the market. The 4Ps make up a typical marketing
mix - Price, Product, Promotion and Place. However, nowadays, the marketing mix
increasingly includes several other Ps like Packaging, Positioning, People and even
Politics as vital mix elements..
2. Think of some products you have bought recently. Why did you buy them?
Which of the four Ps influenced your decision to buy?
I recently bought a new pair of shoes from Nike because my shoes were old and
dirty and I couldn't wear them anymore. So, in 4Ps, the product influenced my
decision. It is new and has a trendy appearance which many teenagers wear
nowadays.
3. What is market research?
- Market research is information about what customers want and need.
4. What is market segment?
Market segmentation is a process of sectioning the target market into smaller
groups that share similar characteristics, such as age, income, personality traits,
behavior, interests, needs or location. 
- 5. What is consumer profile?
- Consumer profile is description of a typical customer.
6. What is product lifecycle?
- Product lifecycle is the length of time people continue to buy a product.
7. What is product launch?
- Product launch is the introduction of a product to the market.
A product launch is a planned effort to bring a new product to market.
8. What is an advertising campaign?
- Advertising campaign is a program of advertising activities over a period with
particular aims.
PART 2
1
I have known several good marketing campaigns, but the one I impressed most is
the “Share a Coke” of Coca-Cola. It gives people the chance to order personalized
Coke bottles. About the objectives, through the ‘Share a Coke’ campaign, Coca-
Cola want to attract more people to buy their products and know more about them
no matter they are old or young.
To achieve these targets, firstly, Coke focused on promoting and selling products
through channels like newspapers, TV, and social media, particularly Facebook. .
Secondly, Coca-Cola created a hashtag “call to action” in the campaign. It made
people purchase Coca-Cola and share their memorable moments with their friends
and family on social media. And of course, through social media a lot people see
this hashtag and makes the campaign become worldwide.
As a result. the amount of coke increased fastly. 76.000 coke has been sold just in
2 days. After all, “Share a Coke” was one of the best campaigns Coca-Cola has
ever designed. From this campaign, we can understand the impact of social media
and the way of connecting with customers. That’s also the reason why I am
impressed by this marketing campaign.
2.
Okay, so a few months ago I bought a new phone. My old one was really old, I
mean really, really old, and the screen was heavily broken, and the battery life was
almost non-existent. Sometimes I had to charge it twice a day. Anyway, I decided
it was time for a change because every time I used my phone I would become
frustrated because I couldn’t see the screen properly or it would be running out of
battery very quickly and I would have to look around for some place to charge it
up.
A couple of days later I was waiting for my friend. We were supposed to meet up,
and while I was waiting I saw a store and they had the model I had been looking at
online. I entered the store and ask more details about it. I asked the staff some
questions about it and he was very knowledgeable about it, and very helpful.

I had a good feeling about it so I decided to buy the phone there and then. I hadn’t
planned to buy a phone that day, but anyway I’ve been very happy with the
products I have got. It’s so much faster and easier to use than my old one.
My phone is important because I use it for everything, calling, texting, keeping in
touch with friends in other countries and many other things as well as playing
games sometimes just to amuse myself. I would be lost without it.
3.

Recently, I have noticed that a lot of my friends highly recommend me that i

should have Akiko make cakes when it comes to some special occasions. It is said
that the brand have expanded their chains with over 10 stores for just a year and
their profit has doubled as a consequence of advertisement campaigns and efforts
to continuously improve product quality and services.

Therefore, they now have a good client base and a good brand name in the market.
Akiko just has over 30 employees and what they produce are all kinds of cakes.
People with high or low income level could buy cakes from Akiko easily. They
also has their own special recipe to suit Vietnamese people taste. The company has
made a good impression by their professional work style and friendly service. The
shipping also good point. It just takes you 10 minutes to receive the cake since you
ordered it. Moreover, the Akiko always offers discounts for customers for weekend
and holiday. For all that reasons, I think that this brand would becoming more and
more successful not only in Vietnam but also in the rest of the world.

3. PART 3
1. In your opinion, what is important when you market a product?
I think it is 4Ps consisting of Product, Price, Promotion, and Place. It is often
applied by businesses as a marketing tool to help increase sales and promote its
brand or products in the market. For example, Coca-Cola is a company that has
applied 4Ps and achieved success. It has a diverse product system (Product), a
reasonable price (Price), hugely successful advertising campaigns, and a presence
almost all over the world (Place).
2. “Marketing is the art of making something better than it is”. Do you agree with
this idea
I agree with this opinion. Because when a product is advertised, its bad side is
never mentioned. Besides, companies which put profit is the most important things
are willing to overstate the effectiveness or good side of the product to sell more.
As a result, their profits increased very quickly.
UNIT 10 MANAGING PEOPLE
PART 1
1. What qualities and skills should a good manager have?
First is a good communication skills.It’s important to be able to convey your points
clearly and concisely so each team member knows exactly what the boss what
them to do. Secondly is know how to deal with conflicts. Every team or company
always has many personalities. Understanding how to meditate disagreement and
resolve conflict makes everyone feel valued and continue dedicating for their
company
2. If you are managing people from different cultures, what personal qualities and
skills do you need?
Being patient and understanding for their differences. It is important that we
understand their culture and background so that we fully understand the way they
do certain things. Moreover, we have to be careful how we deliver our message
and learn to choose the appropriate words to say. Secondly is know how to solve
problems. The multicultural environment always have conflict because of the
misunderstanding each others. If you don’t know how to solve the problems,
members in your company may become boring and disrespect with others.
3. What is your ideal manager like? Are they male or female?
I don't care if my manager is male or female. I always like a manager who can
effectively communicate, give detailed feedback, and help me to improve no
matter I am doing work good or bad. That keeps me highly motivated. I think
that’s a sign of a good manager or good management as well, being open to
discussing topics, and encouraging employees to work well, instead of simply
dictating everything.”
4. what would you do if you were a director of your company or school and had
the power to change anything?
If I were a director of a company, I would change the working environment to
make people become more creative and feel motivated to work effectively.
Moreover, I makes sure that employees always have time for their family or their
friends. I think after working hard all day, telling some funny stories for their
beloved family or friends is the best way to relieve stress and recover their energy
to work for the next day.
5. What are important things when socializing for business in your country?
Socializing means taking part in social activities or interating with others.
Socializing may take place in many forms but the most popular forms is meeting. It
is considerd as a part of the job. So the most important things when socializing for
business that is respectability. Everyone has their own opinion and people have to
respect that because no one want to feel themselves is unvalued in the meeting
6. What are some bad qualities of the manager you know or you have worked for?
I once worked with a manager who refused to listen to employees. She always does
things the way she wants and blames her staff if she does something wrong. She is
also always putting pressure and yelling at her employees.
PART 2
I would like to talk about my mom- the manager of family company and I do
believe that she is one of the most professional person that I have known in my
life. On the subject of appearance, I must confess that I was struck because of
her powerful look when she wears a black suit. There are some several
reasons why I admire my mom. First, she is confident and always makes
people wanted to listen to my mother opinion while discussing. Secondly, she
is a cool-headed person. She always be quiet to listen carefully to her staff’s
opinion and give feedbacks fairly on them. About the way she manages her
company, she hands over the work for the employees based on their level of
stress. She knows exactly who can work effectively under pressure and who
not. Also, she never becomes angry for any kinds of reasons. For all employees
in my company, they considered my mother as their second mother because
she always motivate them to work hard, give them some useful advices and
listen to their stories. And I think that’s why I admire my mother a lot.
PART 3
1. Do you agree with the idea that employees have to be managed in a strict way,
otherwise nothing will get done?
I do believe that pressures will make people become more perfect, but when people
have suffer a lot of pressures from the way of being managed in a strict way, they
will feel that the work they have to do is compulsory instead of feeling motivated.
2. When have you felt most engaged and most valued at work, or in a sports team,
or in your daily life?
At work, I feel most valued when I am allowed to take ownership with
management. And when I am involved in the discussion to resolve the company's
problem. I think I become a part of helping the company grow. It’s also when I’m
going to communicate openly with my leader. At that time, I found myself able to
help the company and truly become a member rather than a spectator.