[Seana RNA Occ « TTS e900 5 dt © OH BO Sm 6 Mamnmnn G teitngth-rmen. Q hentteletre. Hicne-hontl. [finan ite. Resco sehen. : e@ 7 Risk |Business workshop 7 |Exercise 1 x SS So mange @ MP bxSees FESS ow « ERSTE e@ 7 Risk |Business workshop 7 | Exercise 1 x Backgrourgy 2 Reathebacgrounand ius the question witha pare: 1 What rosandconscan you see for setting up tourism business thisregon? 2. Whatknd of services does the oa gorerent provide for tarcups? 2 Whackindotpofessonalsarenddedon the ean? Cane saateniiety Walege |) esiecerstpetand pevtiesincrierlarepy sais eres alte @ foiuknecomnadieds meseantatecummt sre Ynanome wea @ ‘some say, the Mediterranean’: best kept entrepreneurs. Despite having a strategic includes risk analysts, financial advisers: ere ee Re ee ee @ eas i een enn earner oe 2 csc aeromcage Geomnincrmoare local goverment atorty wats to. complebueaicrcy higheerporate magn sk @ ose lureninanaretupoelts tatplabour mare ah me f i Three start-up 2 Read the information about three startups. Would these activities appeal t SD ° fect inty7 ny now . eh Lis Mm e@6s 6e@ 7 Risk | Business workshop 7 | Exercise 1 x ° 3 Think about the lesson title and look at the risk-Level indicator, What is your general impression of the risk evel for each business plan? Neptune Adventures | Shimizu Springs Festa tala Teacher's resources: Risk assessmeiy 4 01701 Sednahasbeen researching how to carry outa risk assessment on their spa business. She has found a podcast by Renata Zavaglia, an American health and safety exper. giving advice to business owners. Listen to the podcast and complete Sedha’s notes. Use one to four words in each gap. ‘Avoid Risk with Renata: what is risk assessment? e @ Q @ 2 1 Think about what might to;people and decide whether you ae taking steps to rk Real rks ae those that ae happen in your busines 2. Grate ais assessment document - butts only effective if acton = 3 fis management sabout ers that tre paced pele who coos ‘se shod manase tem Totranagig ris edo WD buscar LE wMeene Dt reece 8Risk assessmepy 4 Teachers resources cs 2 cy wade) 7 Risk [Business workshop 7 | Exercise 1 (BI 701. Sedna has been researching how to carry outa risk assessment on ‘their spa business She has found a podcast by Renata Zavaglia, an American heath and safety expert. giving ace to usines wes sen tothe podcast and complete Sedna’s nates. Use one to four words in each gap. ‘Avoid Risk with Renata: what is risk assessment? 1 Tinkabout what might toppeople and decide whether you are aig seps o rl Real iis are Thanet ae happen nyour busines 2. Create art asesment document - but ks only ectve ton 3 Rik management abow ening at tre protected people who create tisk shoud manage them. Tak ranagig rs wil lead 4. Teesteps for isk assessment a the risks, (il) Decide ‘might be harmed and i) ‘the risks and decide on 5 Dontforgetto your ek document repay 6 Evaating rik not about people or having fon. Hwee aS 235 Ps cepade OH HOH) aeMP bx 7 Risk |7.4 Functional language |Exercise 2 x Analysing risks 2 Ses hecarec enon ntti cone theses 11 There's a medium level of probability method /radarthatit will happen. But iit does, we! be prepared. 2 Whatefect/ probability / methods would we use to analyse therisks wet facing? 23 This kely range cause establish us a delay in manufacturing fwe dome do something now, 44 Theresa catastrophic an urgent /2 possible need to deal with this issue as soon aspossible 55 From our analysis we have caused / mitigated identified two main areas of sk. 6 think that some the problems may not bon aur impact / radar / plan. ° 3 Match the sentences (1-6) in Exercise 2 with the functions (a-d). ‘Talking about isk analysis —, — 1b ldentiying risks — € Talking about probability and possible outcomes —, Deciding on action — _aia FUE TC) @ eS) i ams © (Cl@ICiOe®MP bx Functional language A ae) 7 Risk |7.4 Functional language |Exercise 2 Talking about risk 1. complete the dialogue with one word in each ap. 1 think we need be prepared alleventatities. 1 agree. The worst?___scenaiois that we ase the contract. And that's Big deat. Its. So, before the meting we ned to gather as much information as posse. 1: Butthat would bevery____-consuming and expensive. The deadlines too short Ak Yes, but we need o*____ the unexpected. were prepared for anything, thatwills—— ue mere confidence 1B: That's true, butif we know our business well enough, well beable to deal with any Issues asthey ‘k: Do youthinki'mbeing’_? 'B: Possibly. You're right, we doneed tobe aware of potential problems -that way we can____allbases, but just notin great deta ‘ROK. thope you're right © (Cl@ICiOe®7 Risk |7.2 Listening | Exercise 2 6 {+ owever, Casts Hoe youu enOUgH w /uHu your FEU eTeH, Speaker 5 + Investing smaller amounts of money at a time removes the " wees from the action. ae + Over time, this approach will average out the price you pay for + Riskis limited by selling good investments atthe" __of the market. 2 2 © oe: ‘Which statement best summarises the overall message of all the speakers? Prat sentd i a Holding on to expensive investments i a proven key to success. Is important find different ways to beat inflation in an uncertain economy. Investors need to laokat cfferent ways to diversify their investments, 4 Government regulations and decisions can pose a threat to investments, @ © bwxar Lit Meens 3 Pre denpsade 6 2MMP bx aati ing 0 Pa 3 Shean. eemio-Pea. @ woesbeesere. 7 Risk |7.2 Listening | Exercise 2 Speaker 3 + Different might be required at various times of the ‘economic cycle + Growth in stocks can be remarkable. + Some experts buy cheaper stocks expecting them to improve in an Speaker 4 + Its important to have a(n) °_ of cash in a weak stock market for short-term goals. + However, cash isnot good enough to fund your retirement. Speaker 5 + Investing smaller amounts of money ata time removes the " from the action, + Over time, this approach will average out the price you pay for + Risks limited by selling good Investments at the of the market. e@sxea 2) 2) +] Drv sae 0 Be,900 Dw eoBaIemcs 6 7 Risk |7.2 Listening | Exercise 2 scant, enkagin-Pape. tie ere. ov ABC Teast, 2 Complete the summary of each speaker’s advice with the words in the box. oe Then listen again and check. assets economicrecovery emotion fundmanagers inflation negative effect predict safetynet spending stocks strongreturns technology top volatile Speaker 1 + Nearly impossible to ' which marketis goingtodowell. | 9 © + Good diversifier is gold — it performs well in? markets and | zie ann when there is * . — Speaker 2 + Investing money in a single sector can lead to a serious + on finances. + Should spread investments over different + 70 | Leen tin + Canhave® from infrastructure trusts. 8 br Lia wees Ss Prranom 22,0 e @900 Ltd © © HB 9 Ber 6 Meamiwne, G mngen-ree. G hustle, — HaCTHO-boset, 6 7 Risk |7.2 Listening | Exercise 2 markets. Which speaker (1-5) is talking about: ats Listeni: 6 L $7.01 Listen to five people giving advice about investing in today’s uncertain commissioning different people to oversee different investments? __ nie b investing in an asset that usually does well in uncertain markets? © awayto balance out investments? = investing in various assets to avoid potentially losing too much? e @ e preventing expensive borrowing? _— Ae? ° 2 Complete the summary of each speaker's advice with the words in the box. Then listen again and check. assets economicrecovery emotion fund managers inflation negative effect predict safetynet spending stocks strong returns technology top volatile @ © bwxar Lt M@ een S Dern sos 923, 0coaae: a 7 Rsk |74 Busnes sls Exercise 1 x eacacenoe @) pee ne Saoeetcapgie &) * + ule 1@ S ote asd = comer @ en res © Rowe pelrour iormanc ese Preven som - 84, 0D> wiiacies MP bx 8 °° 7 Risk |7.4 Business skill |Exercise 1 Look at the phrases in bold in these sentences. Match phrases 1-8 with categories 5p ‘Aor Bin the table on page 74. Then match phrases 5-8 with categories Coro. | Which process should we use to analyse the risks/ situation /challenges wee facing? We have found risks that range from medium to critical, {t's important to Look into al risks, or atleast make sure we are aware of them. The biggest risk we can se is that we will go over buciget/ experience delays /have poor quality Let's research the risks / consequences / possible impact further and take time to understand this better. This will tkely cause us Lead to ig problems it we don't do something about thisrisk. We possibly / probably / defintely need to be prepared for this outcome. lease make sure that the following measures are taken Work in pairs. Place one or two of the risks you discussed in Exercise 1 onto the ‘matrix in Exercise 2C. Use phrases from Exercises 4A and 48 to talk about the risks. a . Le weens ys£900 o Dw OOH BP ems e 7 Rk |74 Busnes sls Exercise 1 x tanguagia an ‘Complete the phrases from the meeting in Exercise 2 using the words and phrases ‘in the box. “Tats 6 ‘address catastrophic establish which risks identified {2 2 +) ue impact thely ouradar probability toanalyse urgent a / @ 7 Tolingaboutvskanalse [1 Weneed ‘hestuation market sues so we can eter understand the @ posse i ss 2 lio lc en thngs tha can ga wrong al fl here ry banc @ on 4 3 ently ks 7 we conten wou eater weretaing ® 4 Fromouranayiswe ‘ree main area ofr = © Taling about probably |S There'sa medi evel of hai wlhappe, anit doesthe andpossbleoucones |” wilbelow 6 esvery that isl happen so we cbviosly want to avoithat 7 tha happens and were not ready, the efect would be D Decdingonaction [8 Lets this one net week 4 9 Therelsain) eed tomate this one asson as possible Were going to — prise is ne BD buco Lie wees Ds racceneade 9 gS,e 7 ik [74 Busnes sil Exercise x Which two factors does this model Look at? What does Marion askthe team members todo before the next meeting? 7.02 Listen to their next meeting, Are these statements true (1) or false (F? The istrisk they identify isthe project running over schedule ‘They already have a handover plan incase people change_obs. ‘The flood rskisan urgentissue which they decide to deal with first ‘They decide to act on all three of the identified risks Listen again and decide where these risks should be placed on the matrix. The first one has been done as an example. Running over schedule Employee turnover mié-project Flood riskin testing area a es Toa gh Impact conaquencs Wun ‘Work in pairs. One person explains how the matrix works to the other. the second ‘person explains the risks in Exercise 2C and where they placed them on the matrix. Functional Analysing risks haat te langua ad "9% 4. complete the phrases from the meeting in Exercise 2 using the words and phrases I P box Li} @e@ 6s 6 Li case gatas2 D9 8 MBO Mc Blinc chp nes ini (— pe he e 7 ik [74 Busnes sil Exercise ‘Learners can use a model to analyse and discuss isk, and decide ona course of action Teun ea ‘Think of some things that might make you late for a morning flight / class / meeting, e.g. traffic, bad weather, feeling il. 1B. Workin pairs and compare your ideas. Which risks can you plan forin advance? How? IiOoe Listening) 2A 4701 Marion Robinson. project manager in manufacturing company is planning a new project with her team. She's concemed about the risks facing the project. Listen to part of a project meeting and answer the questions. 1 Why are they not ready to start the project planning? 2. Why does Marion feel some things could go wrong? 43 Which risk analysis model do they decd to use? Pt? et 4 Which wo farses melo? aay) 5 What does Marion ask the team members todobeforethenext meeting? 8 br iwmwe 1 cadasereme, > iio,