Chapter 1.2

Specialization Training
Manual
TEACHING
BUSINESS
ENGLISH
Part 1.2.
TESOL CERTIFICATION PROGRAM
Copyright © 2014 Int’l TEFL Training Institute www.becomeenglishteachers.com

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COMPLETING THE ASSIGNMENTS
General Comments:
• Complete the required assignments and keep copies for yourself.
• Follow the assignment expectations. Lesson plans should be clearly written and
supported.
• Any assignments improperly completed (lacking detail, sloppy, or inappropriate) will

be returned to you for resubmission.
• If you and a partner or friend are both registered for the same TESOL correspondence
or online course, you are to complete your assignments individually. All assignments
must be original work.
• This is a 50-hour course that must be completed within half a year of the starting date.
The starting date is the date on which the course was sent to you the first time.
Technical Comments
• The assignments are to be completed in a professional manner. Assignments should

be typed when possible and hand-written assignments must be clearly written and
neatly presented.
• An illegible or sloppy assignment will be returned to you for resubmission.
• Please ensure that your assignment includes the following if necessary:

1. a table of contents
2. clear legible writing
3. appendices
4. a Bibliography or Cited Works
• Please ensure that each page of your assignment includes:

1. Your full name in the top left hand corner
2. The page number in the top right hand corner
Copyright © 2014 International TEFL Training Institute www.becomeenglishteachers.com

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ASSIGNMENT CHECKLIST
Teaching Business English

Mark each assignment off as you complete it. Make sure that everything on this list has
been submitted.
Assignment Name:
1. English for Specific Purposes

2. Interviewing an Entrepreneur
3. The Four Language Acquisition Skills
4. Case Study A – Business Plan
5. Case Study B – Organization
6. Case Study C – Marketing
7. Evaluation
8. Your Thoughts on Materials Development
9. Materials
10. Marketing and Strategy
11. Development
12. Strategy
13. Close Calls
14. Rooms That Work
15. Travel Agent, Tourism
16. Free Conversation
17. Final Task
18. Project
19. Course Evaluation

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COURSE OUTLINE
Welcome to the International TEFL Training Institute Business English Course. Your
commitment to quality language learning, professional development and teaching will
increase your potential for success throughout your teaching career. The following will
offer an introduction to Teaching English for Specific Purposes and an overview of what
will be covered in the Business English Training Course. The Business English Course is
comprised of two core sections and a bonus section.
Section 1:
Chapter 1.1 – An introduction and overview of English for Specific Purposes (ESP),
who your target students are and the process of teaching Business English
Chapter 1.2 – Methods and approaches to teaching Business English
Chapter 1.3 – The four language acquisition skills and how they are applied to teaching
Business English
Chapter 1.4 – Case studies in which you will have to analyze materials that have already
been developed
Chapter 1.5 – Evaluation and how to evaluate the progress of your students and the
course
Section 2: Focuses on developing business materials and courses.
Chapter 2.1 – An introduction and an overview on how to develop business materials

Chapter 2.2 – Adapting business materials
Chapter 2.3 – Developing business materials
Chapter 2.4 – Developing business courses
Section 3, Bonus Section: Soft skills for Business English. There aren’t any
assignments in this section.
Chapter 3.1 – Information on working successfully with business people as students; the
importance of incorporating soft skills
Chapter 3.2 – Idioms
Chapter 3.3 – Business jargon

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CHAPTER 1.2:
Methods & Approaches

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E
Assignment 1
English for Specific Purposes
Analyze the ESP course module “Entrepreneurship” on pages 7 to 29 and
answer the following questions:
1. What approach has been used to design the curriculum?

2. What do you feel are the merits and drawbacks of the design?
3. What would you change? Why?
4. How would you teach this ESP course using the communicative
approach?

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Entrepreneurship
Pre-Entrepreneur Skills Module Curriculum Outline:
This ten-week course is intended to provide English as a Second Language (ESL) to
participants at a high intermediate to advanced level of language with an introduction to
the central concepts and vocabulary of U.S. Entrepreneurship. The course will be
comprised of 35 hours of instruction per week – consisting of both in-class participation
and outside research. The modules outlined in this package will serve as the vehicle to
enable the participants to communicate in the fundamental areas of small business
ownership.
It is important to note that this ESL course focuses on communication skills that enable
the client to deal with the content of the subject matter. There is no intention to teach the
content of small business management, but to teach the language skills, which support
learning of that content at a later stage.
Through the use of case studies, relevant exercises, role-plays, videos, interviews and
guest speakers, the participants will complete each module with varying degrees of
competence. It may be necessary to supplement the learning of those who have not
mastered the content of the modules through consulting mechanisms with ESL
professionals in order to ensure adequate performance in the subsequent small business
course, Entrepreneur Skills.
The Pre-Entrepreneur Skills curriculum will involve:
• Specific language upgrading, as needed, related to business interests (including

grammar, spelling, mechanics, etc.)
• Literacy enhancement (e.g., filling in forms, note-taking, writing reports)
• Listening, speaking and vocabulary exercises
• Building interaction skills (e.g., questioning techniques, interview skills, networking,
presentation skills)
• An introduction to techniques for gathering relevant data for a business plan
• An introduction to the vocabulary and concepts related to: entrepreneurship;
customer relations and service; marketing, accounting and record keeping;
organization and time management; communication and cross-cultural difference;
computers; legislative and product knowledge; and the business plan.

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Introduction, Entrepreneurship:
The objective of the materials in this module is for participants to become familiar with
the language and concepts related to entrepreneurship. Case studies, videos, discussion
questions and material related to small business ownership will be used to achieve this
end.
Upon completion of this module, participants will:
• comprehend the concept of entrepreneurship

• recognize characteristics and terms associated with entrepreneurship
• comprehend a description of a Personal Statement of Affairs and complete such a
statement assessing personal net worth
• understand information about preparing to run a small business

• comprehend the initial decisions involved in choosing the form the new business
venture will take
• understand basic information about four kinds of entrepreneurship and comprehend

the advantages and disadvantages of each
• have opportunities to interview local entrepreneurs with various business

backgrounds
• have collected, analyzed and discussed several newspaper articles about local and
regional entrepreneurs
Note: Instructors should encourage participants to begin collecting news articles about
entrepreneurs. These provide an excellent source of information and vocabulary and
can be used to generate practical, relevant reading exercises.
The World of Entrepreneurship:
Objective: To familiarize participants with the meaning of entrepreneurship and to have

you identify some of the vocabulary related to the characteristics and traits of
entrepreneurship.

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Method: Begin by asking participants to name and describe someone who you believe is
an entrepreneur. Offer suggestions from all areas of business. Write the information on
the board.
Divide the large group into smaller groups of three to four people. Ask each group to
discuss and record what they think is involved in being an entrepreneur. Vocabulary and
ideas which should be covered:
• risk taker/willing to take a chance

• discovers new things
• hardships and sacrifices
• improves on existing products/services
• strong, determined
Discuss all ideas as a large group.
Reading Newspaper Articles

About Local and Regional Entrepreneurs
Objective: Reading about local and regional entrepreneurs will provide participants with
valuable information, ideas for their own ventures and relevant vocabulary related to
small business ownership. Throughout the course, instructors should use these materials
to generate reading and vocabulary exercise as further language practice for the
participants.
Method: On the first day of the course break the large group into smaller groups of three
or four and hand out a newspaper to each (use different newspapers for each group).
Instruct participants to find any articles relating to entrepreneurship to share with the
group.
Discuss all articles as a large group.
Instruct participants to begin keeping their own file of clippings, which will be used
throughout the course for reading, research and other exercises.
Evaluating Entrepreneurial Characteristics:

Objective: Identify and describe the attitudes, characteristics, and skills usually required
to become an entrepreneur.

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They will differentiate among characteristics that are most desirable and undesirable for
entrepreneurs.
Materials:
DVD: Atocha: A Quest for Treasure

(National Geographic, Vestron\Video International, P.O. Box 4000, Stanford,
Connecticut) (1 hour)
Method: Write three headings on the board: Most Desirable, Desirable, and Undesirable.
Discuss each heading with the group so that all participants understand what each means,
particularly the Undesirable heading (see “Background Information” section below).
Make sure participants realize that a characteristic that is undesirable for an entrepreneur
is not undesirable for another type of individual.
Show the video and, based on the above criteria used to identify entrepreneurial
characteristics, identify which characteristics are demonstrated by Mel Fisher of the
“Atocha: A Quest for Treasure” team.
Have the participants read the case study “Entrepreneurs Are Made, Not Born”, and
answer the questions that precede the article.
Background Information – Suggested

Classification of Entrepreneurial
Characteristics:
Most Desirable Entrepreneurial Characteristics:

Commitment and Determination: These are considered the most important
entrepreneurial characteristics. With them, an entrepreneur can conquer many obstacles
and compensate enormously for other weaknesses. Entrepreneurs are neither aimless nor
reckless in their attack on problems or obstacles that hinder the progression of their
ventures. While they are persistent in their attack on a problem, they are also realistic in
recognizing what they cannot do and where they can get help to solve a problem.

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Opportunity Obsession: Entrepreneurs are oriented to the goal of pursuing and

executing an opportunity. Of interest is the fact that the Chinese characters for crisis and
problem, when combined, mean opportunity.
Tolerance for Risk, Ambiguity, and Uncertainty: Entrepreneurs are not gamblers; they
take calculated risks. While willing to take risks, they calculate each risk carefully and
thoroughly and do everything possible to stack the odds in their favor. Shrewd
entrepreneurs convince others to share the inherent financial and business risks with
them; they manage risk by transferring at least some of it to others. Motives involving
self-achievement, avoidance of unnecessary risk, the desire for feedback, personal
innovation, and a positive orientation to the future are usually strong in successful
entrepreneurs. Entrepreneurs tolerate ambiguity and uncertainty and are comfortable
with conflict.
Creativity, Self-Reliance, and Ability to Adapt: Successful entrepreneurs have faith in

themselves – that their accomplishments and setbacks are in their control and influenced,
and that they can affect the outcome of situations. The entrepreneur has always been
viewed as an independent, highly self-reliant innovator and the champion (and sometimes
villain) of free enterprise. Effective entrepreneurs actively seek and take initiatives.
They constantly put themselves in situations where they are personally responsible for the
success or failure of an operation. Entrepreneurs are not afraid of failing; they are more
intent on succeeding. People who fear failure neutralize any achievement motivation that
they possess. Those who fear failure tend to undertake only very easy tasks; where there
is little chance of failure or, in a difficult situation, where they cannot be held personally
responsible if they do not succeed.
Motivation to Excel: Entrepreneurs are generally self-starters who appear to be driven

internally by a strong desire to compete against their own self-imposed standards and to
pursue and achieve attainable goals. Entrepreneurs have little need for status and power,
deriving most of their personal motivation from the challenges and excitement of creating,
and building an enterprise. They thirst for achievement rather than for power or status.
Setting high but attainable goals allows entrepreneurs to focus their energies and define
priorities, providing a measure for how well they are doing. Successful entrepreneurs
demand a high level of personal integrity and reliability. High personal standards
comprise the bedrock that ensures the growth of successful and enduring personal and
business relationships.
Leadership: Entrepreneurs are experienced in, and have

intimate knowledge of, the technology and marketplace in
which they compete, and have general management skills
and a proven track record. They are self-starters with
great inner control. Entrepreneurs are patient leaders,
able to communicate their visions to others. They have a
well-developed ability to influence without using force of
any type. Entrepreneurs know when to use logic, when to
persuade, when to make concessions, and when to demand concessions. Success comes

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to the entrepreneur who is a mediator, a negotiator rather than a dictator. Entrepreneurs

who create and build substantial enterprises are usually not loners or super-independent.
They recognize that it is rarely possible to build a substantial venture alone, and they
work at building a team.
Desirable Entrepreneurial Characteristics:

Energy and Health: While energy and health have deep genetic roots, they can be fine-
tuned and preserved by careful attention to diet, exercise, and relaxation.
Intelligence: Intelligence and conceptual ability are great advantages for an entrepreneur.
“Street smart” or having a “nose for business”, also the entrepreneur’s “gut feeling and
instincts” are special types of intelligence.
Capacity to Inspire: “Vision” is a natural leadership quality that is charismatic, bold,

and inspirational. The entrepreneur’s goals and values will establish the atmosphere
within which all activities will take place, and his or her inspiration will shape the venture.
Values: A person’s values reflect the environment and the background from which that
person comes. Values are developed early in life and become an integral part of that
individual.
Undesirable, Non-Entrepreneurial Characteristics:

Invulnerability: People who feel that nothing bad can happen to them, that they are
invulnerable, are likely to take unnecessary risks.
Being Macho: Macho people try to prove they are better than, and can beat anyone else.
They often try to prove themselves by taking large risks and exposing themselves to
danger. When combined with overconfidence, a sure recipe for disaster results.
Being Anti-Authoritarian: Anti-authoritarian people resent their actions being

controlled by outside authorities. This mind pattern will never succeed when teamwork
and feedback are necessary. .
Impulsiveness: When faced with a decision, these people feel that they must do
something, do anything, and do it quickly. They act harshly. They do not review the
alternatives before execution.
Outer Control: People with outer control feel that there is little if anything they can do
to control a situation.

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Perfectionist: The time and cost implications of perfection are very high, with
opportunities being passed by because another project is not yet "perfected." It is
important not to confuse perfectionism with having high standards.
Know-It-All: Know-it-alls actually have· very few answers and fail to recognize that
they do not know the answers. .
Counter Dependency: The most extreme and severe form of independence, can be
limiting mind-set. In an effort to accomplish things all by themselves, such people often
accomplish very little.
(Adapted from Jeffry A. Timmons. New Venture Creation: Entrepreneurship for the 21st
Century 8th ed. Boston, MA: Irwin Publications, 2008)
Case Study,
Entrepreneurs Are Made Not Born:
1. From the following article, develop a list of the entrepreneurial characteristics

of the successful entrepreneurs discussed.
2. What other factors are mentioned in this article as contributing to the success
of an enterprise?
The Origins of Entrepreneurship

by John Case
Entrepreneurs these days play a mythical role in American culture. They're our risk-
taking adventurers. Heroes of the new economy. And the INC. 500 - the nation's fastest
growing privately held companies are entrepreneurship incarnate, they are the stuff of
myth. You want life on the leading edge? Daring leaps into the unknown? Ask the
founders of the INC. 500 companies, how they got their start.
Or so we figured. .
We certainly posed the questions. By way of an eight-page survey and dozens of follow-
up phone calls, we asked INC. 500 CEOs to recall for us how they came to create a
company. We probed their background and experience. We asked them where they got
the idea tor their business, how they financed the whole thing. Given the mythology of
entrepreneurship, we expected tales of inspiration and imagination of boldly going where
no man (or woman) had gone before.

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So much for expectations. Instead of swashbucklers, we found hardworking, experienced

business people. Instead of life on the edge, we found them pursuing their fast-growing
ventures in everyday industries, from insurance administration to mirror manufacture.
Risk? Sure, any of these businesses might have failed. Hard work? That, too. "We'd all
be president of whatever during the day and work in the plant at night," remembers Frost,
who began his business with his brother. Entrepreneurship is never easy. But all these
people, like many others we talked to, were venturing into familiar territory with well-
delineated risks. If they failed, well, jobs would have been waiting for them elsewhere in
their industries. And the steps they took in the earliest stages kept the chances of failure
to a minimum.
The inescapable conclusion: entrepreneurs are made, not born. They are made by their
experience. Made by the changing marketplaces in which they find themselves. Granted,
maybe there's some quirk of personality, some subtlety of background that separates
these INC. 500 CEOs from their erstwhile counterparts who kept climbing the corporate
ladders. But we don't know how to describe that difference, and we doubt it will be the
same for everyone. What is the same--what crops up over and over in the stories we hear
- is what you might call situational entrepreneurship. As individuals, these people aren't
so different from the rest of us. But they were working in situations where, thanks to their
experience, they knew exactly how to go about building a business. · They were smart
enough to spot the opportunity and knowledgeable enough to take the right first steps.
It's always tempting to glamorize the dramatic adventures in the business world; like the
movie stars and major-league ball players, they lend a little pizzazz to everything they
touch. But maybe it's not so discouraging to find that entrepreneurship is a more mundane
matter than it is sometimes portrayed. As the stories and statistics of our survey show,
you don't need to be a person of mythical proportions to be very, very successful in
building a company.
And instead of iconoclastic individualists, the cowboy capitalists of America’s dreams,

we found people enmeshed and embedded in industries, with rich networks of contacts
and colleagues they could draw on to help them build a business. For most, the secret to
successful entrepreneurship seemed to lie not just in individual inspiration but also in
knitting a dozen different interests into one co-operative endeavor. Creating a company
was a matter of knowing customers, suppliers, partners, and sources of capital. It was
amateur of knowing a marketplace well enough to notice tiny fault lines of change – fault
lines that would one day become sizable niches in the business landscape.
For us – we’d better admit it – this discovery was a little unsettling.
Like the rest of the press, we’re constantly on the lookout for heroes. In our case, that
means entrepreneurs who are somehow larger than life, who have seemingly inborn traits
that allow them to succeed and sometimes fail–in spectacular fashion. We paint verbal
portraits of these men and women, hailing them as entrepreneurs of the year or the decade,
holding them up as exemplars. The rocketing growth of INC. 500 companies fits
naturally into this scheme of things. We know that somewhere among each year’s list

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will be CEOs who can tell us truly astonishing stories, stories of breathtaking risk and of
soul-satisfaction.
But the unemotional numbers of the survey teach a different lesson: that these characters
are the exception, not the rule, and that the creators of the INC. 500 companies are down-
to-earth, practical-minded people for whom, more often than not, building a business was
simply the next logical step in a career. Jim Hanahan spent 23 years with an insurance
company. Then the market shifted ever so slightly, threatening to undercut a small part of
his employer’s business. Hanahan decided he’d rather switch than fight and set up a
company of his own to capitalize on the new environment. Other stories are similar. After
22 years in the industry, Bobby Frost started a mirror manufacturing company to take
advantage of technology that his employer was ignoring. Tom School spent 13 years with
Young & Rubicam in Detroit before setting up his own ad agency, seeking clients he
thought Y & R was overlooking.
Being an Entrepreneur
Deciding to Enter Business:
The development of small business is very important to the economy. Starting a small
business is hard work but it is also very reverent. An entrepreneur is a risk taker;
someone who likes to be independent, has confidence in an idea and in his or her abilities,
and is willing to work hard to be successful.
In addition to being the right kind of person to start a small business, an entrepreneur
must also consider the following:
• the need for the product or service

• a self-evaluation of readiness to start a business
• a basic understanding of the particular business
• the development of a business plan
• money
Vocabulary – Business and Financial Terms:

Debt – something, which is owed, usually money.
Assets – anything of worth that is owned by a person or business. Your personal assets
are the money you have, the money owed to you, any securities you won such as bonds
and stocks, the property you own, whatever part of your home you own, your furniture,
appliances and other goods you own. The assets of a business are the same.

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Stocks – a share of ownership in a corporation. The ownership of a corporation is divided

into many small parts called stocks or shares. The corporation sells stock to individuals in
order to raise money to buy its land, buildings, equipment, and inventory.
Mortgage – a financial agreement for a loan that is used to buy a house. The house or
land belongs to the lender until the money is paid.
Amortize – to repay a debt by regular, small amounts.
Bonds – an investment made by lending money to government or corporation. People

who buy bonds from government or corporations are lending money to these institutions
and collecting a rate of interest.
Market Value – the financial worth of something that is offered for sale.
Life Insurance – a system of payment in case of loss of life. A person who buys life
insurance wants money to be paid to a certain person or persons after his or her death.
Beneficiary – the person(s) named to receive the life insurance payments after the death
of the person, called the policyholder, who bought the life insurance.
Liabilities – the debts owed by a person or a business.

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Assessment of Personal Net Worth

Read the following profile of George and Susan Saikaley. Following the profile you’ll
find a Personal Statement of Affairs Worksheet. Use the information in the profile to fill
in the worksheet.
Profile: George & Susan Saikaley

George Saikaley is thinking about starting his own small business. He would like to
open a coffee shop offering fast service breakfasts and lunches in a downtown
location near hotels and businesses. George is seeking to borrow $37,500 to set up his
business at 10 1/4% amortized over twenty years; monthly payments would be
$362.82. It is anticipated, that the coffee shop would make an annual profit of
$60,000.
George is 32 years old and married with one child. He has been in Canada for seven
years. During that time, he worked as a busboy, then as a waiter and an assistant
manager at a small downtown restaurant. At present, he is making $28,000 per year as
an assistant manager in a health club restaurant. He has held his job for four years, but
thinks there is no security in his position. Because of this, George took a course in
small business management last year.
George’s wife, Susan, also works. She is a bookkeeper making $27,000 a year, and is
willing to help her husband with his business.
Together, George and Susan have $3,000 in a joint bank savings account. They are
joint owners of a 500 square meters semi-detached house on a half lot, 12m x 35m.
They have a $75,000 mortgage at 10 ¼ % that is renewable after 5 years. Their
monthly mortgage payments, amortized over 20 years, are $725.64. The value of their
house is $105,000 now, and their property taxes are $1,800 per annum. They have
$6,000 worth of furnishings as other assets.
The Saikaleys drive a three-year-old Toyota. It’s worth $5,000 now. They still owe
the bank $4,000 for the car, but they have no other debts. They spend $3,400 on
utilities, $6,500 on food and clothing, and $1,000 on insurance payments annually.
They have $3,000 in government bonds that have a present market value of $4,200.
George bought life insurance two years ago. Susan will receive $250,000 if George
dies. It costs him $175 a month. He has paid $4,200 for it so far. In summary, the
Saikaleys manage their money well and have a stable financial history.

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Questions for Discussion:

1. Do you think George is in a good financial situation to take a risk?
2. Do you think George’s new business will be able to support himself and his
family?
3. What advantages does George have in starting his own business?
Answer Key: Statement of Personal Net Worth, George &

Susan Saikaley
Assets
Bank account $ 3000.00
Bonds (market value) $ 4200.00
Life Insurance $ 4200.00
Automobile $ 5000.00
Home $ 105000.00
Other assets $ 6000.00
Total Assets: $ 127400.00
Liabilities:
Bank loan $ 4000.00
Mortgage $ 75000.00
Other debts
Total Liabilities: $ 79000.00
Total Net Worth (Total Assets – Total Liabilities): $ 48400.00

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Answer Key: Income Statement, George & Susan Saikaley

Income
Personal salary $ 28000.00
Other income $ 27000.00
Total Income $ 55000.00
Expenses
Utilities $ 3400.00
Food and clothing $ 6500.00
Insurance $ 1000.00
Taxes $ 1800.00
Life insurance $ 2100.00
Mortgage $ 8707.68
Other expenses
Total Expenses: $ 23507.68
Net Income (Total Income – Total Expenses): $ 31492.32
Answer Key: Questions for Discussion

1. George’s current financial position is very good with an annual income surplus of
$31,492.32. In addition, the fact that he is concerned about his own current job
security makes this venture worth risking.
2. As stated, it is anticipated that the coffee shop will provide George with a net income
figure of $60,000. The additional loan re-payments $4,353.84 can be made through an
increase in income of $5,000. Therefore assuming no increase in expenditure,
George’s financial position will remain relatively unchanged. Susan’s additional
income will be a surplus. Therefore, George’s new business will be able to support
himself and his family.
3. George has worked at all levels in the catering business and has vast experience in
this area. Now that George has completed his course in small business management,
he not only has the experience, but the additional qualifications to start his own
business.

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Preparation for Running a Small

Business
Read the following information about preparing yourself to start your own business.
Being a successful entrepreneur is easier if you have experience in the type of business
you want to start. If you have no experience, it is a good idea to begin by working for
someone else.
Knowing how to manage a business is essential. Poor management is the greatest cause
of business failure in the U.S. Management means utilizing money, people, and other
resources effectively. It also means keeping business records and understanding any
changes that they show so that you can make knowledgeable decisions about your
business.
Before you begin a business, you should prepare a business plan. The business plan will
help you and any of your advisers to evaluate your business situation, goals, objectives,
and time limits. The plan will help to show you any problems you might have and help
you to be ready for opportunities. A business plan that shows you have researched and
planned carefully for your business will also help you get a business loan.
Comprehension:
Answer the following questions based on the reading:
1. Why is it important to have experience in the type of business you want to start?
2. What can you do if you do not have experience?
3. What’s the reason for most business failures in the U.S.?
4. What should you do before you begin a business?
5. Why is a business plan important?

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Starting a New Business

Vocabulary:
Here is a list of terms from the reading that follows. Read the passage and see if you
understand the terms.
entrepreneurship financial statements

clientele purchase agreement
inventory franchise
premises franchiser
reputation franchisee
worth franchise firm
Starting a new business begins with deciding what type of business to begin. After that, it
means deciding how to start. There are three possible ways to start a business: opening a
new business, buying an existing business and operating a franchise. Entrepreneurs must
think about the advantages and disadvantages of each.
Opening a New Business:

Most first-time entrepreneurs choose to enter business by opening an entirely new
business. New businesses are usually at the highest risk of failure but there is a great
amount of personal freedom to control the company’s direction.
Most businesses start small and the owner-manager must be involved in all areas of the
business. This means working long hours, clearly understanding the new business, and
following a careful plan of action.
Buying an Existing Business:

An existing business already has a clientele, a business method, perhaps inventory and
premises, as well as a reputation.
It is important to know why the business is for sale and to know its true worth. Before
purchasing a business, ask many questions. Have an accountant review the financial
statements of the business going back about five years. Have a lawyer review leases, etc.,
and prepare a purchase agreement or contract.
Operating a Franchise:
Buying a franchise is a very popular way to enter business. It means buying a business
that is a unit of an established system. The franchiser expects the buyer or franchisee, to

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follow the rules and regulations of the franchise system. These rules ensure that the
franchise product or service is similar for all the franchises in the system.
Before you decide to buy a franchise, it is important to know if you can accept someone
else’s rules and regulations. It is also important to know if the franchise firm is well
established or recently established. A well-established franchiser is familiar to customers
and can offer many support services to help a new franchisee get started.
Before buying a franchise, have an accountant and a franchise lawyer advice you. The
accountant will analyze the franchiser’s financial statements to see if the firm is
financially stable. The franchise lawyer will carefully review the franchise agreement.
Vocabulary Application:
Use the vocabulary from the list on the previous page to complete the following
statements.
1. An entrepreneur plans, owns and manages a small business. The planning, owning
and managing of a small business is called _______________________________.
2. The value of a product, service or business is also called its _________________ .
3. A contract to buy something is called a __________________________________.
4. The ___________________________are people who use the services of a business,

shop or professional.
5. A business that is known and respected has a good _________________________.
6. Our _____________________ is low, so we’ll have to order a new supply.
7. That company has been so successful that it has to move to larger ________________.
8. Before you buy a ____________________you must apply to a franchise firm.
9. An accountant will look at a business’s __________________________to find out its

true value.
10. A _________________________________ is a person who buys a franchise.

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Comprehension:
Use the information from the readings to answer these questions:
1. What are the three kinds of entrepreneurship?

________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
2. Which kind of entrepreneurship has the greatest risk of failure?

________________________________________________________________________
3. What does an existing business already have to offer a buyer?

________________________________________________________________________
________________________________________________________________________
4. What should you know about before buying an existing business?

________________________________________________________________________
________________________________________________________________________
5. What does the franchiser expect the franchisee to do?

________________________________________________________________________
________________________________________________________________________
6. What advantages are there to buying a franchise from a well established franchiser?
________________________________________________________________________
________________________________________________________________________
Answer Key: Vocabulary Application

entrepreneurship inventory
worth premises
purchase agreement franchise

25
clientele financial statements

reputation franchisee
Answer Key: Comprehension:

1. Opening a new business, buying an existing business, operating a franchise.
2. Opening a new business.
3. A clientele, a business method, perhaps inventory and premises, I as well as
reputation,
4. Why the business is for sale and its true worth.
5. Follow the rules and regulations of the franchise system.
6. A well-established franchiser is familiar to customers and can offer many support
services to help a new franchiser get started.
Forms of Business Organization

Vocabulary 1:
The following terms are from the paragraph that follows. As you read, see if you
understand the terms.
service product
customer capital
sector proprietorship
manufacturing partnership
merchandising corporation
service sector co-operative
Some businesses make things, some sell things and others provide a service to customers.
These activities belong to three business sectors: the manufacturing sector, the
merchandising sector or the service sector. They vary in size from small businesses
with only one worker to large businesses with thousands of workers. The size of the
business depends on several factors. These include: the product produced, the service
provided, the market serviced and the amount of capital needed.
There are different forms of business organizations: Sole Proprietorships, Cooperatives,

Partnerships and Corporations.

26
Vocabulary 2:
The following terms are from the passage below. As you read, see if you understand the
terms.
agreement stocks
duties elect
responsibilities board of directors
profit shareholders/stockholders
shares product
A Sole Proprietorship: This is a business with only one owner. This could be a small
boutique, a beauty salon, a neighborhood store, a small farm or a factory. A sole
proprietorship can also operate from home. The owner makes all the decisions such as
what to buy, what to sell and who to hire. He/she owns the company and performs many
different functions in the business.
A Co-operative: This is a business owned and operated by its members. It is organized

on the basis that each person who is a member is allowed one vote. There are various
types of co-operatives, including local credit unions and co-op stores in communities
across the U.S. Another type of co-operative is a worker co-operative, which is a business
owned and operated by the workers. The democratic principle of co-operation is shown at
regular meetings where decisions are made. At these meetings, the owner-workers
participate in the decision-making process. Profits at the end of the year are allocated and
distributed, according to a decision made by the members.
A Partnership: This is a business with two or more owners. This could also be the same
type of business as a sole proprietorship. A partnership is formed because the owners
want to share the work and the capital. The owners write and sign an agreement, which
includes all the information about the business such as the name, the location, the type of
business, the names of the owners, their duties and their responsibilities, the amount of
capital each contributed and the amount of profit each will receive.
Corporation: This is a large business owned by many people. Companies such as

Verizon and PSE&G are corporations. These companies need millions of dollars to
operate. The ownership is divided into many small parts called shares or stocks. These
are sold to people who are called shareholders or stockholders. The money is used to
operate the business. The shareholders meet once a year and elect a Board of Directors
who make the decisions for the company. The profits of the corporation belong to the
shareholders. Usually some of the profit is used to buy more land, buildings or products
for the business. The head of the corporation is the President or Chief Executive Officer
(CEO).

27
Entrepreneurship Vocabulary Development,

Word Analysis:
Sometimes the meaning of a new word can be understood by looking at the different
parts of the word. For example, the word ownership is made up of the verb own
followed by two suffixes: er and ship. Study the following chart of word forms:
Noun: As a Verb: As an Adjective:

agreement agree agreeable
election elect electoral
owner own
ownership
product produce productive
production
service serve servile
director direct direct
operator operate operable
decision decide decisive
contribution contribute contributory
Word Form Completion:

In the following sentences, supply the correct word from the list above:
1. The partners made a _________________________to purchase another company.

2. A sole owner _____________________________all the goods in his company.
3. The shareholders will _______________________what to do with the profits from
the company.
4. That company ___________________________all the material to make shoes.
5. The _____________________________of the corporation will speak to the

the shareholders.
6. The shareholders will __________________________a new Board of Directors

tomorrow.
7. The new car wash company gives good ______________________to its

customers.
8. The two partners agreed to have a third owner. They will sign an

28
______________________________tomorrow morning.
9. Mr. Jones has a sole proprietorship, He _____________________________his

business from his home.
10. The two women made an equal ______________________of capital to start the
business.
Definitions:
Match each word or term with its definition.
a. stockholder e. share or stock i. market

b. agreement f. owner j. service
c. capital g. sale proprietorship k. co-operative
d. corporation h. partnership
1. a business owned and operated by one person.

2. parts of ownership.
3. an area in which goods are sold.
4. work done for someone.
5. an arrangement made between two people.
6. money used for starting a business.
7. a business owned by two or more people.
8. a business owned by many people.
9. a person who owns shares and stocks in a company.
10. a person who owns something.
11. a business owned and operated by its members.
Answer Key: Word Form Completion

1. decision
2. owns
3. decide
4. contributes
5. director
6. elect
7. service
8. agreement
9. operates
10. contribution

29
Answer Key: Definitions

1. g
2. e
3. I
4. j
5. b
6. c
7. h
8. d
9. a
10. f
11. k

30
Interviewing an Entrepreneur
Before guest speakers arrive, instructors are encouraged to have participants brainstorm a
list of questions to ask after the presentations. This can be done as a whole group or with
smaller groups of three to four people.
The following is a list of possible questions.
1. What is your background (parents, school, where you grew up, job experience,
friends, relatives, etc.)? In what ways did your background have a positive or
negative effect on you as an entrepreneur?
2. What was the key motivator for your interest in entrepreneurship? What role does
money play in motivation?
3. What kind of work did you do before you started your first venture?
4. What, specifically, is involved in your venture and what product or service are you
providing?
5. How did you spot this opportunity, and how did you decide it was worth pursuing?
What was the important opportunity to you in assessing the criterion?
6. How much time did it take from when you first recognized the opportunity to the
launch of the venture?
7. What obstacles and barriers did you confront?
8. What were the most important sources of help and assistance to you?
9. What was your goal in launching the venture?
10. How do you measure success?
11. What do you perceive as your major strength and major weakness?
12. What sacrifices have you made in being an entrepreneur?
13. What has been your most rewarding experience so far? Your worst moment?
14. Do you see yourself as a risk taker or a gambler? What is your attitude towards risk?
15. What advice would you give an aspiring entrepreneur?
Assignment 2: Interviewing an Entrepreneur

Please use the questions listed above to interview an entrepreneur.

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Specialization Training

TESOL CERTIFICATION PROGRAM

Copyright © 2014 Int’l TEFL Training Institute www.becomeenglishteachers.com

COMPLETING THE ASSIGNMENTS

• Complete the required assignments and keep copies for yourself.

• Any assignments improperly completed (lacking detail, sloppy, or inappropriate) will

• The assignments are to be completed in a professional manner. Assignments should

• An illegible or sloppy assignment will be returned to you for resubmission.

• Please ensure that your assignment includes the following if necessary:

• Please ensure that each page of your assignment includes:

Copyright © 2014 International TEFL Training Institute www.becomeenglishteachers.com

Teaching Business English

1. English for Specific Purposes

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Section 2: Focuses on developing business materials and courses.

Chapter 2.1 – An introduction and an overview on how to develop business materials

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Methods & Approaches

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1. What approach has been used to design the curriculum?

Copyright © 2014 International TEFL Training Institute www.becomeenglishteachers.com

The Pre-Entrepreneur Skills curriculum will involve:

• Specific language upgrading, as needed, related to business interests (including

Copyright © 2014 International TEFL Training Institute www.becomeenglishteachers.com

Upon completion of this module, participants will:

• comprehend the concept of entrepreneurship

• understand information about preparing to run a small business

• understand basic information about four kinds of entrepreneurship and comprehend

• have opportunities to interview local entrepreneurs with various business

The World of Entrepreneurship:

Objective: To familiarize participants with the meaning of entrepreneurship and to have

Copyright © 2014 International TEFL Training Institute www.becomeenglishteachers.com

• risk taker/willing to take a chance

Discuss all ideas as a large group.

Reading Newspaper Articles

Discuss all articles as a large group.

Evaluating Entrepreneurial Characteristics:

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DVD: Atocha: A Quest for Treasure

Background Information – Suggested

Most Desirable Entrepreneurial Characteristics:

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Opportunity Obsession: Entrepreneurs are oriented to the goal of pursuing and

Creativity, Self-Reliance, and Ability to Adapt: Successful entrepreneurs have faith in

Motivation to Excel: Entrepreneurs are generally self-starters who appear to be driven

Leadership: Entrepreneurs are experienced in, and have

Copyright © 2014 International TEFL Training Institute www.becomeenglishteachers.com

to the entrepreneur who is a mediator, a negotiator rather than a dictator. Entrepreneurs

Desirable Entrepreneurial Characteristics:

Capacity to Inspire: “Vision” is a natural leadership quality that is charismatic, bold,

Undesirable, Non-Entrepreneurial Characteristics:

Being Anti-Authoritarian: Anti-authoritarian people resent their actions being

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1. From the following article, develop a list of the entrepreneurial characteristics

The Origins of Entrepreneurship

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So much for expectations. Instead of swashbucklers, we found hardworking, experienced

And instead of iconoclastic individualists, the cowboy capitalists of America’s dreams,

For us – we’d better admit it – this discovery was a little unsettling.