S6.

1
Part 1:
A: The changes to the banking system in Vietnam that you would like to see in the future
Firstly, I’d like to see a focus on banking in the real economy, as opposed to creating
products and services that are removed from the bank’s business, because it’s been proven
that a bank can’t manage that risk when it’s not in direct contact with the business.
Secondly, I’d like to see some separation of the more investment-banking, because
investment banking is a riskier business and customers are put at risk of banks failing.
B: I think the best investment option with my money for any age or income is keeping money
or other assets in a bank account. Because there is no risk of making profit (apart from the
interest) or loss (unless the bank fails). We can use our money to generate wealth in the
future. We can gain much higher returns, but there is also a risk of some loss if we can’t
control our cash flow in the right way.

Part 2: 
A: Can you tell me about your business ideas?
B: Umm.. I'm choosing among three start-ups that I'm considering finance: Evan Griff - a
healthy fast-food restaurant, The McQueen - an enterprise that supplies organic beauty
products, and Clicktock - a small health care consulting .
A: That sounds good. But we were wondering what kind of investment you were looking at.
We obviously just have $40 million to spare!
B: Well, yes, I realise you're a small syndicate. But I heard that Evan Griff wanted $100 to
$150 million for 18% share of the restaurant. They now want to start a "new-trend" in the
fast-food industry, it's a healthy fast-food restaurant. I don't know how they can do it with a lot
of "traditional" competitors in this market. 
A: Hmm, that is a lot of money for such a big gamble, so I don't recommend investing in
them. What's about Clicktock?
B: Clicktock wants $70 to $80 million to develop their customer service centre. I had an
experience with their health care and  it's very good, but there's something about the
methods that doesn't inspire me too much.
A: I'm not convinced it sounds promising for us. And I think that they will continue to do well,
with or without investment from us.
B: OK, turn to the last one, The McQueen. They want $55 to $65 million to remodel their
production activities and to expand their business. They understood that we don't have this
kind of money, but suggested that we put money in along with other investors. The founder is
a pharmaceutical engineer and seems to know what he's producing.
A: Such a very passionate guy! I suggest we go with The McQueen and their organic beauty
products. The organic product now is more and more popular in Vietnam because it's
healthier and more sustainable use of natural resources. So I think this will have more
distinct advantage in the Vietnam marketplace in the future.

S6.2
Part 1: 
A: Why might some companies hire a consultant and what are the values they can bring to the
client?
Sometimes, when companies are working on a challenging problem or a controversial
project, it can be hard for them to make decisions or take the necessary actions without
getting wrapped up in emotions or politics. So, they bring in consultants to provide an
unbiased eye and do some of the dirty work for them.
Another, and perhaps the most common, reason that companies hire consultants is to gain
access to a specialized skill set that might not exist in house. These highly specialized
people would not only be expensive to hire for, but the company might not have enough work
to keep said employees busy year round.
B: What are the implied criticisms made about consultants?
A conflict of interest, stated or implied, can occur when the consultant has a vested interest
in the outcome of the consulting activities. For example, a consultant doing a feasibility study
has a conflict of interest if they expect to do additional business if you decide to go ahead
with the project. Technology providers, construction companies, etc. doing feasibility studies
can fall into this category. Properly selecting a consultant is not easy and may take a lot of
time. However, the payoff from the proper use of consultants can be enormous.
You need to be involved with the consultant and make sure they know and understand the
basic concepts of the project. Although you have hired a consultant, you are still responsible
for the project.

Part 2:
A: We saw in your country mobile phones were only available for the super-rich. We've
invested millions in India building a full-scale network and started selling pre-paid mobile
phones that cost just 20 US dollars. 
B: And do you think you can sell a phone at 20 dollars and still make money? How interested
are they in the latest handsets?
A: Well, people might not own a car, but having the latest mobile phone is very much a status
symbol.
B: And why South Africa?
A: Basically, we look at opportunities where existing operators are under serving the
population. And we see a lot of opportunities in South Africa. Our goal is to implement a new
mobile network here over the next 12 or 18 months.
B: Twelve months? That's going to be a challenge.
A: Yes, and it's also going to be a great media opportunity.
B: Well, I think San phone is in a pretty strong position. I've read your annual growth rate has
been over 50 per cent.
A: That's right. 
B: Um, by the way, I thought we were expecting the CEO of San phone in today's meeting? 
A: Well. I'm really sorry to say that, but.. He sends his apologies. He's been having lunch with
some important people. Ah! My question is how can ST-com Consulting help us in the
political arena?
B: Well, er, my partner, Andrew, has one or two well-placed contacts.
A: That's good to hear. Actually, I was wondering whether we'll be meeting Mr Andrew later
B: Oh, I'm afraid Andrew is away on business. He'll be back Friday.
A: Okay, could we have a meeting with him next Monday?
B: Actually, see you at the next meeting.
A: Oh, yeah, got it.

S6.3
Part 1:
A: Name some business strategies of companies to hold a higher market share or be the
market leader: improving product innovation, building customer loyalty, employing a talented,
dedicated workforce, acquiring other companies, deploying effective advertising, and pricing
products and services efficiently.
The most effective strategy for market-share gain is product innovation. Its weak sister,
product imitation, may be appropriate for growth in a growing market, but it will probably not
alter existing market shares. At the same time, innovation is an expensive and risk-laden
strategy requiring a careful analysis of market needs and preferences, a large investment,
and astute timing. But through this, we can make our mark because we found a better
product. 
B: Analysis of a business tycoon/leader that has achieved the company’s goals and strategies.
In this decade, no one knows “Alibaba”, the largest wholesale site in the world and the

executive chairman of its - Jack Ma - the prototype of a successful businessman, who is a

true rags-to-riches story. He became an inspiration to people around the world. He has built
his company’s culture to be not too formal and serious by trying to participate in the team as
a member, not a boss. For transformational leadership style, he is a man that has high
motivation power. His employees are willing to work without force, which can bring out the
ability of the individual at the same time. Likewise, with his visionary leadership style, Jack
Ma is very visionary. He can see the possible way to start the business earlier than others.
Furthermore, he has advanced communication skills. He knows how to speak to inspire
people, which can benefit and might lead the company to achieve a goal easier. 

Part 2:
A: As you can see, the passenger numbers of first-class and business fell by 5% last month.
It's evident that a large number of business passengers have chosen price over service.
B: Yeah, I see. That seems like a big problem. What should we do to improve this and
restore the demand?
A: We could switch our aircraft to new opportunities, like having more slots on popular routes
in Europe and expand into the US markets. We could also think about having a 'dual brand'
structure. I mean, we could develop a low-cost subsidiary airline aside from our own main
brand. 
B: I don't think 'dual brand' is a good idea. Our airline has been operating for more than 40
years and has an excellent safety record. We've also got experience and expertise that the
low-cost airlines just can't match. And we've built our reputation on quality service to our
customers. 
A: What about focusing on the passengers who don't mind paying a bit more to travel in
comfort, especially on the key long-haul routes?
B: We can serve more free food and drinks on the menu of first-class and long flights.
Moreover, we can refit aircraft for more first-class legroom on some flights to Europe. We'd
also start charging for using this service; that would offset some costs to repair.
A: That sounds good. And some high class passengers will be prepared to pay for advanced
seat booking and for upgrades. But it needs to be done carefully, though. I mean,
passengers will just upgrade if we're seen to stand out from other airlines.
B: By the way, if we should develop a frequent flyer program for business travelers and other
first-class passengers. We can work with companies' travel managers to offer discounted
fares or match a passenger's status with other frequent flyer programs.
A: That's good to hear. We can also use the free data from the flyer programs in developing
our marketing strategy and product research. 
B: Absolutely. Um.. Shall we have a meeting next Monday to discuss the finance and
strategy details of this plan?
A: Of course. See you next Monday

SPEAKING 6– CODE S6.4

PART 1:
A. Analysis of the advantages and disadvantages of online business
- Customer data: The most important aspect of any business procedure is collecting
customer information. Online companies allow customers to collect data about their
customers and their behaviour. It's all done with little effort. Therefore, it's the best online
business benefit anyone can get. 
- Lower Marketing Costs: The Internet means that you can advertise your products and
services in front of your desired customers without the assistance of a professional marketing
company to help you but at a higher price.

- Long-term Cost: Online businesses are significantly less expensive in operating costs than
traditional businesses. An online business requires the smallest office space, or there is no
need for office space. Furthermore, if there are no physical premises for the business, then the
cost of hiring employees will be reduced.

- Reduction of Physical Interactions: Many of the most innovative concepts are born out of
people's interactions. Although the internet has successfully superficially connected people,
it's not enough to match the human interaction of speaking in person with customers and
colleagues.

- Negative Reviews: Buyers may use social media to share their frustrations and opinions
about businesses. The public is more inclined to complain than be a positive reviewer of a
business, which could damage the image of a business.

PART 2:
 How do you think you can help the business improve the customer online
experience?
- Make sure our site loads quickly, whether on a computer or a mobile device: Today’s
online customers want the information they need when they need it, at the click of a mouse or
a swipe of a tablet or smartphone, so in order to keep potential customers on our Web pages,
we need to optimize their websites to guarantee maximum performance regardless of a
customer’s network connection and location or whether they are on a desktop, tablet or a
mobile device
- Include customer reviews: By making ratings and reviews easily accessible across every
touchpoint, our brand can ensure a positive customer experience. Customer reviews are
trusted 12 times more than a marketing piece from an organization. So we gonna let them do
the talking.
  What ideas will you present to the owner that will help them regain their brand
reputation again?

- Act quickly, be transparent: When problems do arise, it can be tempting to ignore them
and hope they’ll go away. But when customers feel neglected they may take to the Internet –
review sites or social media – to vent their fury, creating you even more problems. Always
respond to customer issues quickly and fairly. If you’re in the wrong, apologise and put things
right, without being prompted.

- Keep your promises: Trust is an important part of any customer journey so if you say
you’re going to do something, make sure you do it, and do it well.

- Give something back: There will always be local and national charities who need a helping
hand. By offering practical and/or financial help you can show your community how much
you care, engage with new audiences and enhance your company reputation. This type of
work has the potential to create positive PR for your brand too, so make sure you tell relevant
media about what you are doing.

SPEAKING 6– CODE S6.5

PART 1
A. Analysis of the different important factors in starting up a new business.
- It’s not that simple to starting up a new business. There are some important factor that we
have to consider when starting a new business. First of all, A business idea, Every business
starts with an idea – a super duper idea that actually works. If you want your business to stand
out, you will need to offer something that no one else has offered till date. You may have a
great business idea; but unless it solves someone’s problem it is not going to work. So start by
listening to frustrations – both of yours as well as others (your family members, your
neighbors, your friends, and your associates). Once you know what business you want to start,
you will have to start gaining the required knowledge and expertise to start that business.
This might take a lot of research and planning; but at the end all these efforts will ensure that
you have everything in place to get your business idea off the ground. Once you are sure of
starting your business, your next step would be to explore the market or the demand for
your product or service. Start by answering the question, who are your customers. If you are
selling your product or service locally, you may have to assess the demand for it. In case you
are taking up on an international level, you may have to understand the rules and regulations
of dealing internationally.

PART 2
 How will you deal with slow-paying clients?
- Start by Reviewing Payment History: First review your customer’s payment history to
determine what type of slow payer you’re dealing with. There are some slow payers who take
their time but reliably pay at the end of the payment term, such as large corporations. On the
other hand, there are slow payers who consistently pay late. Types of behavior need to be
addressed as they can wreak havoc on your business.
- Create a Clear Contract: Detailing payment terms and penalties for late payment avoids
confusion about your terms and expectations.
- Immediately Send an Invoice: When you are slow to send invoices, it can send the
message that you are not concerned about being paid promptly.
 What kind of action steps you will do to avoid future situations of chasing more
payments so it won’t affect your business much or your daily cash flow?
- Create a cash flow forecast: Making regular and accurate cash flow projections is one of
the most important things you can do to notify you of problems before they arise. There
should be a projection of the growth or reduction of your money, considering issues such as
slow payment and the current trading environment. You’ll also have to factor in outgoings
such as salary increases and the growth of other costs.
- Identify your expenses: These typically include wages and salaries, suppliers’ costs, rent
and rates, and the purchase of new assets. You might need to add interest payments and
insurance premiums. You'll want to have a reasonably accurate view of your opening and
closing financial position for a month, six months, and 12 months.

SPEAKING 6– CODE S6.6

PART 1
B.What are the challenges involved in planning a large/huge project?

- When planning a huge project there are some challenges that you have to face if you want
the project to be success: First I will mention about “Communication” Poor or ineffective
communication is one of the biggest risks to any project. If project managers are unable to
properly delegate tasks, provide or translate instructions, communicate key project milestones
and objectives, or clarify roles and responsibilities, then this will cause a giant cloud of
confusion among all stakeholders. Second is “Lack of Clear Project Goals and Alignment
With Business Objectives” This issue often arises due to poor planning. This isn’t
necessarily the fault of a project manager. In many cases, companies fail to put sufficient time
and effort into not only properly planning projects but ensuring those projects are aligned with
a business strategy or roadmap. Last one “Insufficient Risk Management” Even the best and
most experienced project managers can’t predict every single risk that can potentially impact
a project. Project risks can range from a project management system bug that brings to the
whole project's failure. Even with the most detailed project plan, there are bound to be some
unforeseen events that will endanger the project.

PART 2
 What needs to be done to improve communication, team morale, and working
practices?
- Have an open-door policy — it builds trust: An open-door policy in place sets the
precedent that anyone can ask questions, voice concerns, and pitch ideas at any time. This is
an important part of building trust within your team. Keeping the doors of communication
open is crucial.
- Be open to feedback: Constructive criticism is meant to be just that – constructive. In order
to get the most out of feedback, it is important that it be clear to all parties involved. A simple
“fix this” in response to a submitted project isn’t helpful to anyone. To be effective, feedback
needs to be clear and detailed. Bonus points if it’s documented publicly (and respectfully) so
that everyone else can learn from it as well. And don’t forget to accept feedback. No one is
perfect, so we all need a little constructive criticism now and again.
- Be clear about tasks so everyone knows their responsibility: No one can effectively
complete an assignment if they are unsure what tasks they are responsible for. Make sure that
the entire team knows the scope of the project and that each team member is clear about
exactly what is expected of them.
 How will you be able to apply the lessons in the first phase of the project so as not
to make the same mistakes again in the second and third phases of the project?
-