Facultad de Economía y Empresa

Dpto.de Filología Inglesa y Alemana

Lengua Extranjera Empresarial

(Inglés) 27344

 Course Introduction
 Introductory Practice:
- getting around the university environment
- communication in English

Unit 1: Business & The Company

1
2
INTRODUCTORY PRACTICE: LANGUAGE RELATED TO YOUR ACADEMIC ENVIRONMENT
In the Anglo –Saxon Universities the centres or units where degrees are studied can be referred to as
Faculties, Schools, Colleges and even, at some universities, a department may be in charge of providing
tuition to a whole degree course. Thus, Business studies and degrees of Economics are commonly studied at
Business Schools and Schools of Economics.
Some vocabulary for getting around your new University environment:
To graduate
Qualification
First degree: (Bachelor’s degree/ BSc and BA)
Bachelor’s degree courses of Spanish universities usually consist of four years (1st year, 2nd year, ...)
Academic year = 2 semesters or terms
Undergraduate students (students of a bachelor’s degree course)
Graduate/Postgraduate student ( Students of a Master’s course)
Modules or courses form a degree programme
Work-placement
Students are assessed by means of assignments or final exams.
Results/marks
Tuition of modules/courses is given at lectures and practical sessions
Degree Final dissertation (TFG). It is usually supervised by a supervisor and assessed by a board of teachers
Grant/scholarship
To register/ to matriculate
Registry office/ registration
To pay fees
University teachers’ positions: University officers:
Research assistant/fellow/grant holder Chancellor (UK) / President (US)
Lecturer (UK) / Assistant professor (US) Vice-chancellor (UK) / Vice-president (US)
Senior lecturer (UK) / Associate professor (US) Dean
Professor (UK) / Full professor (US) Head of Department

BRITISH QUALIFICATIONS
Bachelor’s Degrees

BSc (BS in USA) : Bachelor of Science

BA: Bachelor of Arts
LLB: Bachelor of Laws
BBA: Bachelor of Business Administration
__________________________________________________________________
BSc in Business Administration (BSc or BA)
JD LLB & BBA: Joint degree in Law and Business Administration
Master’s Degrees
MBA: Master of Business Administration
Describing what you are studying this year:
I am presently studying my degree in ________, which I have to complete in X years/ by 2019.
I am an undergraduate student in the final year of a (full-time four-year) degree in Business
Administration and Management, at the Faculty of Economics and Business Studies of the
University of Saragossa. Joint/Dual six-year degree in Law and Business Administration

3
 WHAT DO YOU STUDY?

A- Introduce yourself to your classmate and tell him/her what you study:
Hi! My name is...
Nice/Pleased to meet you.
What do you study/ what are you studying at university? (Name your degree course in English and
year)
What would you like to be in the future? Where do you see yourself in 10 years’time?

 These are the undergraduate courses in Business the University of Southampton offers.
Choose the one which may be similar to yours
BSc Business Analytics
BSc Business Analytics with placement year (4 years)
BSc Business Entrepreneurship
BSc Business Entrepreneurship with placement year (4 years)
BSc Business History
BSc Business History with placement year (4 years)
BSc Business Innovation
BSc Business Innovation with placement year (4 years)
BSc Business Management
BSc Business Management with placement year (4 years)
BSc Business Philosophy

B- In your degree programme, how long may your placement last?

C- On the following page is the description of the degree in Business Management offered by the
University of Southampton. In groups, compare it with your corresponding degree course and
discuss the differences and similarities with your classmates.

Southampton University Your university

- Final award/ qualification:

- Number of total ECTs:
- Length of the degree course:
- Modules that coincide:

How do the final year of the degree at Southampton University and yours compare?

______________________________________________________________________________________
______________________________________________________________________________________
______________________________________________________________________________________
______________________________________________________________________________________
______________________________________________________________________________________

4
  BSc Business Management
Programme Specification

Awarding Institution University of Southampton

Teaching Institution University of Southampton
Mode of study Full time
Duration in years 3 full years (36 months) following standard progression for a full
time student
Final Award Bachelor of Science (Honours)
Name of award Business Management

Programme overview

The Business Management programme provides a comprehensive and flexible education in

business management. It will provide students with a broad introduction to key principles and
practices in business management, which examine accounting, marketing, finance, strategy and
entrepreneurship to enable students to become familiar with the core issues concerning planning,
organising, leading and controlling activity in the context of all organisations. The programme is
distinctive in that it provides students with an overview of the development of the world of
business and key technologies, while providing cutting edge insight into new emergent markets
and trends, providing future leaders with a comprehensive overview issues which will assist them
in their career development.
Programme structure

You will study eight modules in each year of the degree, divided equally between the semesters. In Part 1
(year 1), you will study a basic overview (core modules and compulsory modules)of analytical techniques,
skills, theory and knowledge relevant to a business degree. In Part 2 (year 2), you will be able to choose
three optional modules each semester to provide you with flexibility in your study. One compulsory model
focuses on management and organisation theory, while you will also study a core module that focuses on
research methods to prepare you for the dissertation.
In the final year, you will submit a Final Degree Dissertation/ Degree Final Dissertation that gives you
scope to investigate in depth a business topic that interests you. This covers one compulsory module in the
first semester and one compulsory in the second. There are also two further compulsory modules (one per
semester) which look at strategic and project management. In addition, there are two optional module
choices per semester.

BSc Business Management programme structure

Part 1 (Year 1)
Semester 1 Semester 2
ECTS ECTS
Core Modules (must take and pass) (CATS)* Core Modules (must take and pass) (CATS)
MANG1020 Ideas that Shaped the Business 7.5(15) MANG1002 Management Accounting 1 7.5(15)
MANG1018 Technologies that Shaped the
Business World 1 7.5(15) MANG1021 Ideas that Shaped the Business 7.5(15)
World 2
MANG1019 Foundations of Business Analytics MANG1022 Technologies that Shaped the
OR 7.5(15) Business World 2 7.5(15)
MANG1007 Management Analysis (if no A level
Maths)
ECTS ECTS
Compulsory Modules (must take) (CATS) Compulsory Modules (must take) (CATS)
MANG1001 Financial Accounting 1 7.5(15) MANG1017 Key Skills for Business 7.5(15)

*CATS : University of Southampton credit system

5
 Part 2 (Year 2)
Semester 1 Semester 2
ECTS ECTS
Core Modules (must take and pass) (CATS) Core Modules (must take and pass) (CATS)
MANG2064 Business Research 7.5(15)
ECTS ECTS
Compulsory Modules (must take) (CATS) Compulsory Modules (must take) (CATS)
MANG2060 Management & Organisational 7.5(15)
Theory
Option Modules ECTS Option Modules ECTS
Choose 22.5ECTS (45CATS) (CATS) Choose 22.5ECTS (45CATS) (CATS)
MANG2011 Human Resource Management 7.5(15) MANG2021 Operations Management 7.5(15)
MANG2039 Strategic Marketing Decisions (Req 7.5(15) MANG2005 Management Accounting 2 7.5(15)
MANG1015, MANG1013 or MANG1020 &
MANG2003 Financial Accounting 2 (Req
MANG1001& Maths [MANG1007; Yr1 ECON 7.5(15) MANG2013 European Business Environment 7.5(15)
Maths module; Maths A level)
ENTR2004 Innovation Technology & the
MANG2041 Management Ethics 7.5(15) Environment 7.5(15)
(Req MANG1003 or MANG1018 &
MANG1022)
ENTR2001 Entrepreneurial Management (Req 7.5(15) MANG2057 Philosophy of Management & 7.5(15)
Organisations
MANG1003 or MANG1020 & MANG1021)
COMP1215 Foundations of Computer Science or
COMP1202 Programming 1 7.5(15) COMP1056 Web Design 7.5(15)
LANG or UOSM
LANG or UOSM 7.5(15) 7.5(15)

Part 3 (Year 3)
Semester 1 Semester 2
ECTS ECTS
Compulsory Modules (must take) (CATS) Compulsory Modules (must take) (CATS)
MANG3025 Dissertation (Req MANG2064 Business Research) 15(30)
MANG3008 Strategic Management 7.5(15) MANG3034 Project Management 7.5(15)
Option Modules ECTS Option Modules ECTS
Choose 15ECTS (30CATS) (CATS) Choose 15ECTS (30CATS) (CATS)
MANG3006 Management Accounting 3 (Req 7.5(15) MANG3029 Corporate Social Responsibility 7.5(15)
MANG2005)
MANG3010 Knowledge Management 7.5(15) MANG3003 Financial Accounting 3 (Req 7.5(15)
MANG2003)
MANG3052 Digital Marketing: Engaging with
MANG3072 Technological Innovation (Req 7.5(15) the Customer (Req MANG2039 or 7.5(15)
ENTR2004) MANG3054)

MANG3065 Information, Organisation &

Accountability from a Historical Perspective 7.5(15) MANG3032 Risk Management 7.5(15)

LANG or UOSM 7.5(15) LANG or UOSM 7.5(15)

If there are any terms you don’t understand, look them up in the free online dictionary
www.wordreference.com (you can also upload the WR app to your mobile phone). Find out all
the possibilities this dictionary offers:
- Bilingual dictionary
- Monolingual dictionary
- Synonyms and antonyms
- Words in context. See also www.linguee.es
- Specialised Business English Dictionary. See also www.investopedia.com
- www.businessdictionary.com

6
  Introductory practice: communication in English
1- Read the questionnaire and tick () the sentences which are true about you. Discuss your
answers with your classmate.
I'M STUDYING ENGLISH…
for my work or/and studies 
so I can read foreign magazines and newspapers 
so I can use it as an international language when I travel 
so I can communicate with foreign visitors to my country 
so I can use email / chat online 
so I can surf the Internet and read websites 
because I have to 
for other reasons  Explain them

2-In groups discuss what you think you will use English for at work
_________________________________________________________________________________
_________________________________________________________________________________
_________________________________________________________________________________
_________________________________________________________________________________
_________________________________________________________________________________
_________________________________________________________________________________

3- Watch the PPT ‘What do you need English for at work’ in moodle, Unit 1 and then comment on
and complete the information if you have something else to add.
_________________________________________________________________________________
_________________________________________________________________________________
_________________________________________________________________________________
_________________________________________________________________________________
_________________________________________________________________________________
_________________________________________________________________________________
_________________________________________________________________________________
_________________________________________________________________________________

7
 UNIT 1
CONTENTS:

WHAT’S BUSINESS?

 Reading comprehension; defining & summarising.

 Specific vocabulary practice
 Grammar: Noun groups
 Written and oral discussion
 Listening comprehension

COMPANY STAKEHOLDERS AND COMPANY ORGANISATION

 Business content and vocabulary acquisition
 Oral practice
 Language reference: describing responsibilities and functions of the main company
departments
 Listening comprehension
 Vocabulary practice: business functions
 Text production: description of a company organisation
 Reading comprehension: The manager’s role

TYPES OF BUSINESS
 Business content and vocabulary acquisition
 Contrasting different types of business
 Vocabulary revision
 Oral practice: discussion and listening comprehension

THE PROFILE OF A COMPANY

 Content, structure and function of a corporate profile
 Listening comprehension
 Practice: text analysis of company profiles
_________________________________________
 Appendix I: connectors for contrast
 Appendix II: full list of connectors and phrases to link ideas
 Glossary

8
WHAT IS BUSINESS?
READING COMPREHENSION AND SUMMARISING

A) While reading the text, identify the main ideas contained in it.
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________

(1) When hearing the word business the first thing many people think of is their jobs.
Others think of shopkeepers and retailers, and some think simply of all the millions of
firms that make up the world’s economy. In fact, it can be said that business consists of
all profit-seeking activities and enterprises that provide goods and services necessary to
an economic system. Some businesses produce tangible goods, such as automobiles and
computer chips; others provide services, such as insurance, music concerts, and lodging.
(2) At the heart of every business activity is an exchange between buyer and seller. A
consumer recognizes a need for a good or service and the buyer gives the seller money in
order to obtain that product (a transaction). The seller participates in this process in hopes
of gaining profits, while maintaining improvements in consumers’ standards of living.
(3) Profits represent (financial) rewards for businesspeople and investors who take the
risks involved in blending people, technology, and information to create and market
want-satisfying goods and services. In contrast, accountants think of profits as the
difference between a firm’s revenues and the expenses it incurs in generating these
revenues.
(4) Although the quest for financial profits is the central focus of most business
activities, businesspeople also must recognize social and ethical responsibilities*. To
succeed in the long run, companies must deal responsibly with employees, customers,
suppliers, competitors, government and the general public.
(Adapted from Contemporary Business. Boone L. E. & Kurtz D. L., 2011)

B ) Which of these sentences provides the best short summary of the text?
1- Selling and buying are the essential elements of operation for both businesses and not-
for-profit organisations.
2- Business involves the selling of products and services needed or desired by consumers
in order to gain profits or service a public necessity.
3- Businesses are profit-oriented institutions that aim to satisfy the needs and wants of the
buyers and are also bound to act in a fair and responsible manner.

* Corporate Social Responsibility (CSR)

9
C) After reading the text, answer the questions below, referring back to the text as
necessary.
1) What definition of business is given in the text?

2) Which are the two main groups of products provided by businesses?

3) How do we call the activity resulting from the exchange between buyer and seller?
4) What are the two definitions of ‘profits’ presented in the text?
__________________________________________________________________________
__________________________________________________________________________
__________________________________________________________________________
__________________________________________________________________________
__________________________________________________________________________
5) What is one of the main factors to be taken into account by businesses if they want to
succeed in the long term?
________________________________________________________________________
6) Are NGOs businesses? Why?
__________________________________________________________________________

D) Rephrase the following sentence from the text using other phrase instead of the
underlined words:
In contrast, accountants think of profits as the difference between a firm’s revenues and
the expenses it incurs in generating these revenues
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________

VOCABULARY PRACTICE
E) Find the words or phrases used in the text to mean the same as each of the
following expressions. The paragraph number is given in brackets. Note that verbs
may appear in a form other than the infinitive.
Businesses (1)
To supply (1)
Products (1)
To form (1)
F) Find the opposite of the following in the text:
Wholesalers (1)
To make a loss (2)
Buyer (2)
Expenses (3)
To fail (4)

10
G) Think of, consist of, make up, in hope of, to be involved in and succeed in are
followed by either a noun, noun group or verb (-ing). Find their collocations in the text.
__________________________________________________________________________
__________________________________________________________________________

H)-Translate the following items into English:

Correr riesgos________________________
Riqueza ____________________________
Minorista___________________________
Nivel de vida ________________________
Invertir/inversor______________________
Tener beneficios______________________
Proporcionar bienes o servicios __________
Comercializar productos________________
empezar /abrir un negocio______________
llevar/dirigir un negocio_______________
ganar dinero_________________________
ganarse la vida_______________________
nivel de vida_________________________
Productos de alta calidad ______________
GRAMMAR: NOUN GROUPS
We can combine two or more nouns in several ways.
's possessive: the company's logo
one noun used as an adjective: labour costs
phrases with ‘of’: director of operations
compound nouns forming one word : workforce

Find examples of these four types of noun groups in the text “What is business”?
_____________________________________________________________________________
____________________________________________________________________________
There are other ways to determine nouns like in the examples in the text. Translate the
following noun groups into Spanish:
profit-seeking activities and enterprises___________________________
want satisfying goods and services____________________________
Sometimes, compound nouns are formed with a number to make expressions of
measurement. Change these phrases to make compound nouns.
1 a plan which lasts for 10 years: a 10-year plan _________________________________
2 a hotel with five stars _____________________________________________________
3 a budget worth three million dollars _________________________________________
4 a presentation that lasts 20 minutes __________________________________________
5 a contract worth 200,000 dollars ____________________________________________
6 an industrial empire which is 150 years old ___________________________________

11
 WRITTEN AND ORAL DISCUSSION
Discuss these questions:
1- What conditions are important for people starting new businesses? Choose the
three most important from this list. Can you think of any others?
• low taxes • good transport links • skilled staff
• training courses • low interest rates • high unemployment
• cheap rents • a strong currency • a healthy economy
• government grants • a stable political situation • easy access to credit

2- Write down and discuss with your classmates the purposes of setting up and running
a business you can think of:

3- Each member of the group should suggest and describe a product that nobody would buy

____________________________________________________________________________________
___________________________________________________________________________________-

LISTENING

1- Listen to the first part of an interview with Susan Barratt, the Chief Executive Officer of
Nature's Way Foods, and correct the six mistakes in this paragraph.

Nature's Way Foods is a drinks-manufacturing company based on the east coast of Ireland. They
put chilled product, the majority of which is milk and cheese, into various types of packaging for
the major retailers and various food-service companies in Ireland.
______________________________________________________________________________________
______________________________________________________________________________________

2- Listen to the final part and complete this extract.

I’ve learned a lot of lessons from the companies I've worked for. I think the key thing is
that you have to make sure your ...........1 in the organisation are engaged with the
organization and have a clear ……………..2 of what that organization is trying to
……………………..3. If you can get that clarity of ............4 and ..........5 from the
people within the organisation, then that will help move the business forward in itself.

(Adapted from Cotton et Al (2012). Market Leader. pre-intemediate. London: FT. Pearsons).

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BUSINESS STAKEHOLDERS & COMPANY ORGANISATION

BUSINESS CONTENT AND VOCABULARY ACQUISITION

STAKEHOLDERS: The various groups that have an interest in a particular business firm, that
is, those who are affected by its operation and performance, are referred to as ‘stakeholders’.
The most directly affected stakeholders are:
Shareholders/owners/investors
Management: Board of Directors and managers
Workforce /employees/staff/personnel
Customers/buyers/ consumers
- Can you think of other business stakeholders?
- Which group of people...
1. work for the company?
2. sell to the company?
3. own the company?
4. formulate policy?
5. buy from the company?

COMPANY ORGANISATION / STRUCTURE

Definitions of organizations typically emphasize the systematic approach used to achieve
goals. Businesses typically begin with a hierarchy that establishes the lines of authority,
communication, rights and duties of an organization. The organizational structure of a business
determines how the roles, power and responsibilities are assigned, controlled, and coordinated,
and how information flows between the different levels of management. We can describe
organization structures by main stakeholders, by hierarchy -that is who reports to whom and who
delegates functions to whom- and by functional areas.

A) This example shows an extended chart of a co. organisation

Board of Directors
Headed by the
Chairperson or
President

Managing
Director or CEO

Research and
Production Marketing Finance Development and Personnel
Innovation (RDI)

Advertising and Financial

Market Research Sales Accounting
Promotions Management

Domestic Sales Exports

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i) Fill in the gaps with the corresponding term from this list below:
Workforce chairperson shareholders Managing Director
Board of Directors management Senior managers divisions,
sales departments,

Most companies are made up of three groups of people: the (1)___________________ (who provide the
capital), the (2)_______________________(group of people who set objectives, plan, organise, etc) and the
(3)____________________(receive instructions and carry out the daily tasks and work).
Most business organizations have a hierarchy consisting of several levels. There may also be staff positions
that are not integrated into the hierarchy. At the top of the company hierarchy is the
(4)__________________________headed by the (5)____________________(or President). The Board is
responsible for making policy decisions and for determining the company's strategy. It will usually appoint a
(6)_________________________or Chief Executive Officer, who has overall responsibility for the running
of the business. (7) _________________________or company officers head the various departments or
functions within a company.
The organization might also be divided into functional (8)___________________, such as production,
finance, marketing, (9)_________________and personnel. Larger organizations are often further divided
into autonomous (10)______________________, each with its own functional sections
(Adapted from: https://studopedia.org/2-54673.html)
ii) In business English there are many abbreviations and acronyms which are used very commonly.
Complete this list with other abbreviations referred to co. positions and functions with the list on
the last page of this handout and/or other sources
M.D. Managing Director P.A. Personal Assistant
G.M. General manager H.R. Human Resources
C.E.O. Chief Executive officer R & D Research and Development
C.F.O. Chief Financial Officer Co. org.

LANGUAGE REFERENCE: DESCRIBING CO. STRUCTURE

To establish the relation of authority levels and communication flow.
- To report to /to be responsible to/ to be accountable to (your superior in hierarchy):
The Finance Manager reports to the Managing Director
The five department heads are responsible to/accountable to the M.D.
Also: to work under the direction or supervision of (a superior):
Subordinates work under the supervision of a superior in scale of the department
John works under Mr Brown
- To delegate (responsibilities) to (s.o. in a lower level):
Senior managers delegate responsibilities and functions to middle managers
- To head/ to be headed by:
Senior managers head the different departments of a firm.
Company departments are headed by senior managers
The Board of Directors is headed by the CEO

The most common verbs for describing classifications are:

To consist of to contain to include
To be composed of to be made up of to be divided into
The company consists of / is composed of five main departments.
The marketing department is made up of three units.
The sales department is divided into/includes two sections.

14
 iii) Now write the full sentences where these verbs appear in the text of exercise i:
__________________________________________________________________________________
__________________________________________________________________________________
__________________________________________________________________________________
__________________________________________________________________________________

Other Collocations
to appoint + position to make decisions/to make policy decisions
to be appointed (as) + position to determine/formulate a policy/strategy
to set objectives to run a business
to assign tasks to carry out tasks /accomplish tasks

iv) Look for and write example sentences including the collocations above
__________________________________________________________________________________
__________________________________________________________________________________
__________________________________________________________________________________
__________________________________________________________________________________
__________________________________________________________________________________
__________________________________________________________________________________

ORAL PRACTICE

DISCUSSION IN GROUPS
a) Some people in an organisation have their own office. Do they have their own office
because of: a) seniority; b) a need for confidentiality; e) the type of work they do?

b) How important are the following in showing a person’s status in an organization? Give each one
a score from 1(not important) to 5 (very important):

• a reserved parking space • an assistant

• an office with a view • taking holidays when you like
• a uniform • the size of your des k
• a personal business card • more than one seat in your office
• a company car • flying business class
• your name on your office door • a company credit card
• the latest company mobile phone • fixed working hours

c) Which position in a company would you like to have in ten years time?

d) What does balance between family and working life mean to you? How important is it for
you?

15
 LANGUAGE REFERENCE : DESCRIBING RESPONSIBILITIES AND FUNCTIONS
Responsibilities
to be in charge of…
To be responsible for...
To be in control of
To oversee/supervise
To be the head of/to head
to look after…/ to take care of
To deal with/to manage
To handle/to manage
The finance manager is in charge of the finance department.
The advertising section is responsible for advertising
campaigns.
The Production Department is in control of the production
plant.
He oversees production at the factory.
The Marketing Manager is the head of the Marketing
Department
He /She heads the Marketing Department
The P.R. officer looks after/takes care of the company’s
public relations.
The Personnel Manager deals with staff problems.
The sales manager handles all clients accounts

Duties
to have to The customer service manager has to write a report about
every complaint.
To be required to He/she is required to write…
to be expected to She/ he is expected to write…
Involvement
to involve The public relations officer’s job involves talking to the
press. (Note: use of – ing form)
to be concerned with Health and Safety is concerned with the health of employees.
Checking
to make sure that The security officer makes sure that the doors are locked
to monitor Quality Control monitors company products and tries to
improve their quality.
To check for One should Check for computer updates every so often.
(inspect or test s.th.) Please, can you check the report for misspellings
Organisation
to organise The security officer organises security patrols.
To arrange The distribution manager arranges transport

Liaison
to liaise with Distribution liaises with the Sales Department.

LISTENING COMPREHENSION PRACTICE:

Listen to the organisational structure of Awesome Corp. and tick the verbs in the list
above which are mentioned in the video and take down the positions named.

In moodle: Video: Organisational Structure http://www.businessdictionary.com/definition/organizational-

structure.html?utm_source=youtube

16
 VOCABULARY PRACTICE: FUNCTIONS OF THE MAIN DEPARTMENTS

A) Fill in the gaps with the corresponding verb phrases from above (See key in Moodle2, unit 1).
1- The Personnel/Human Resources Department ....................................... recruiting staff, working
conditions and everything concerning employees as such.
2- The Advertising Section..............................in letting the public know about what the company
sells.
3- A personal Assistant ................................... of the G.M’s professional affairs and agenda.
4- The R & D Department ………………….with production.
5- The Accounts Department ............…. with money matters.
6- R & D..................................working on how to improve products and develop new ideas.
7-The Health and Safety service…………………dangers at work and ……………employees’
health.

B) The departments described are some of the most commonly found in a company. Fill in
the gaps with the words in italics listed below: (See key in Moodle2, unit 1)

account, accountants, agreed, concerned, contact, goods, purchasing, supplies, shareholders

Production: responsible for producing the................ efficiently and in the......................time and
quantities; this department needs to keep in particularly close contact with...................... and
marketing departments.
Purchasing: responsible for obtaining.......................of materials and equipment and other items. It
needs to be in close.....................with the production department and take into....................price,
delivery dates and quality when ordering supplies.
Finance: the financial ...............................are concerned with the money coming in and going out
of the business. They produce the financial accounts and reports required by law, and financial
information to members of the company such as ............................and managers. This department
may also be........................... with the payments of wages and salaries and with invoices from
suppliers.

Carried out, demanded, finds, make sure, provided, safety, staff, wages, welfare.
Marketing: this department................... out what customers require and then tries
to......................... that they can actually get these goods or services. They need to be
........................... at the right price and time and in the quantities.......................... . Many activities
are .......................... in this department and sales is an important part of the marketing department.
Human Resources/Personnel: concerned with recruiting and training ....................... for the
organisation, the personnel department looks after staff ................... This includes matters such as
health and ........................, conditions at work, career planning, dismissal, etc. It may also be
involved with payment of ...................... and salaries.

17
 BUSINESS FUNCTIONS

These are terms describing functions of different departments within a company.

Provide a translation for all of them. Add any other function you may think of.

BUSINESS FUNCTIONAL AREAS/DEPARTMENTS

• Human Resources _______________________
• Sales and Marketing _______________________
• Research and Development _______________________
• Customer Service _______________________
• Production/Operations _______________________
• Finance and Accounts _______________________

Human Resources _______________________

• Recruitment and retention _______________________
- Job descriptions _______________________
- Person Specifications _______________________
• Dismissal _______________________
• Redundancy _______________________
• Motivation _______________________
• Professional development and training _______________________
• Health and safety and conditions _______________________
at work
• Liaison with trade unions _______________________

Sales and Marketing _______________________

• Market research _______________________
• Promotion strategies _______________________
• Pricing strategies _______________________
• Sales strategies _______________________
• Product advice on new product development, product improvement, extension
strategies, target markets _______________________

Research and Development _______________________

• New product development _______________________
• Product improvements _______________________
• Competitive advantage _______________________
• Value added _______________________
• Product testing _______________________
• Efficiency gains _______________________
• Cost savings _______________________

Finance and Accounts _______________________

• Cash flow _______________________ -
Monitoring income/revenue _______________________ -
Monitoring expenditure _______________________
• Preparing accounts _______________________
• Raising finance _______________________
- Shares _______________________
- Loans _______________________
• Links with all other functional areas _______________________

18
 Production/Operations _______________________
• Acquiring resources _______________________
• Planning output – labour, capital, land _______________________
• Monitoring costs _______________________
• Projections on future output _______________________
• Production methods _______________________
– Batch _______________________
– Flow _______________________
– Job _______________________
– Cell _______________________
• Efficiency _______________________

Customer Service _______________________

• Monitoring distribution _______________________
• After-sales service _______________________
• Handling consumer enquiries _______________________
• Offering advice to consumers _______________________
• Dealing with customer complaints _______________________
• Publicity and public relations _______________________
• Business Organisation _______________________

ORAL PRACTICE

DESCRIBING A COMPANY ORGANISATION

Find an organization chart of a company you would like to work for OR create the organization chart
of a company of your invention. Imagine that your classmate has been recently recruited in your
company and you have to describe him/her the structure of the company, communication flows,
reporting lines and functions of the main departments.

Use the following in your description: At the top of, headed by, report to/responsible to, to be responsible
for, formulate/determine the co. strategy, made up of /composed of, divided into, and tehe vocabulary you
have studied in the previous pages.

19
 READING COMPREHENSION
Read the text and summarise it by extracting the main ideas of each paragraph.

THE MANAGER’S ROLE

1- Our society is made up of all kinds of organisations, such as companies, government departments,
unions, hospitals, schools, libraries, and the like. They are essential to our existence, helping to
improve our standard of living and our quality of life. In all these organisations, there are people
carrying out the work of a manager although they do not have that title. The vice-chancellor of a
university, the president of a students' union or a chief librarian are all managers. They have a
responsibility to use the resources of their organisation effectively and economically to achieve its
objectives.

2- Are there certain activities common to all managers? Can we define the task of a manager? A
French industrialist, Henri Fayol, wrote in 1916 a classic definition of the manager's role. He said that
to manage is “to forecast and plan, to organise, to command, to coordinate and to control”. This
definition is still accepted by many people today, though some writers on management have modified
Fayol 's description. Instead of talking about command, they say a manager must motivate or direct and
lead other workers.

3- Henri Fayol's definition of a manager's functions is useful. However, in most companies, the
activities of a manager depend on the level at which he/she is working. Top managers, such as the
chairman and directors, will be more involved in long range planning, policy making and the relations
of the company with the outside world. They will be making decisions on the future of the company,
the sort of product lines it should develop, how it should face up to the competition, whether it should
diversify etc. These strategic decisions are part of the planning function mentioned by Fayol.

4- On the other hand, middle management and supervisors are generally making the day-to-day
decisions which help an organisation to run efficiently and smoothly. They must respond to the
pressures of the job, which may mean dealing with an unhappy customer, chasing up supplies,
meeting an urgent order or sorting out a technical problem. Managers at this level spend a great deal
of time communicating, coordinating and making decisions affecting the daily operation of their
organisation.

5- An interesting modern view on managers is supplied by an American writer, Mr Peter Drucker. He

has spelled out what managers do. In his opinion, managers perform five basic operations. Firstly,
managers set objectives. They decide what these should be and how the organisation can achieve
them. For this task, they need analytical ability. Secondly, managers organise. They must decide how
the resources of the company are to be used, how the work is to be classified and divided. Furthermore,
they must select people for the jobs to be done. For this, they not only need analytical ability but also
understanding of human beings. Their third task is to motivate and communicate effectively. They
must be able to get people to work as a team, and to be as productive as possible. To do this, they will
be communicating effectively with all levels of the organisation - their superiors, colleagues, and
subordinates. To succeed in this task, managers need social skills. The fourth activity is measurement.
Having set targets and standards, managers have to measure the performance of the organisation, and
of its staff, in relation to those targets. Measuring requires analytical ability. Finally, Peter Drucker
says that managers develop people, including themselves . They help to make people more
productive, and to grow as human beings . They make them bigger and richer persons .

6- In Peter Drucker's view, successful managers are not necessarily people who are liked or who get
on well with others. They are people who command the respect of workers, and who set high
standards. Good managers need not be geniuses but must bring character to the job. They are people
of integrity, who will look for that quality in others.

From: Cotton, D. 2008. Keys to Management. Longman

20
1-Expanding on the main points of the text

According to the writer,

- What is the main duty of the head of any organisation?
________________________________________________________________________________
________________________________________________________________________________
___________________________________________________________

- Why do some people disagree with Henry Fayol's definition of the role of management?
________________________________________________________________________________
________________________________________________________________________________
___________________________________________________________

- In what ways are the functions of a company director, for example, different from those of a
middle manager?
________________________________________________________________________________
________________________________________________________________________________
___________________________________________________________

2-Complete the following sentences using suitable words or phrases from the box below

Managing Director junior executive colleagues Directors

senior executives supervisor superior staff
middle managers employees subordinates work-force

a- The group of executives working below the top managers are generally called
………………….......

b- Valerie is an important person in our company. She is a member of the Board of

………………………….

c- Peter, a recent university graduate, has been with the firm for a year. He is at present a
……………………… and is being trained for a managerial position.

d- Their …………………………….. is expanding rapidly. They now have over 5,000 employees.

e- At least 50% of our ……………………………… have been with the company over ten years.

f- …………………………………in an organisation generally have more fringe benefits than lower-level

managers.

g- We are a small group in the Research and Development Department. Fortunately, I get on
well with all my……………………………

h- Our telephone operators work under the direction of a…………………………….

j- I work under Mr Brown. He's my .............................................

k- Sheila and Tom work under my authority. I am their boss and they are my……………………

l - I am responsible for………………………………….. training and development.

m- The ………………………………. is a person of the highest rank in an organization, usually next in

importance to the Chairperson.

21
3- In Peter Drucker's opinion, which of the following things should a manager be?

exceptionally intelligent
keen to improve people's lives
interested in other people
popular
able to give clear orders
honest
admired by others
able to examine carefully and make judgements

4. Give examples of objectives that sales, production and personnel managers might set.

________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
___________________________________________________________

22
TYPES OF BUSINESS
BUSINESS CONTENT AND TERMINOLOGY:
Read the following text and then do the exercises based on its content.
Private and public enterprise
Depending on their ownership, businesses can be either public or private: A 'mixed' economy consists
of both private enterprise and public enterprise.
Public enterprise refers to industries and services owned by the state (all of the public) and
run by central or local government
Private enterprise refers to businesses that are owned by private individuals (some of the
public) engaged in the production of goods or services. There are four main forms of
business ownership in the private sector of the economy:
- Sole traders
- Partnerships
- Private limited companies
- Public limited companies.
Private business organisations
Sole Trader : One person sets up and runs the company. The person provides all the capital and
has unlimited liability for business debts, even if this means selling personal assets.
Partnership: A group of people provide the capital, set up the company and manage it together.
There are two types of partnership:
Partners in an unlimited partnership are like sole traders: if the business fails they are fully
liable for all debts, and may even have to sell personal assets.
In a limited partnership (LLP) there can be sleeping partners who do not participate in the
management of the company. Sleeping partners have limited liability - in the event of
bankruptcy, they only lose their investment, not their personal assets.
Limited Company (Ltd) or Limited Liability Company (LLC)
A company is said to have limited liability when its owners are only responsible for their
company’s debts up to the value of the business. This means that in case the company goes out
of business or bankrupt the owners will not have to use their personal wealth to pay the
company’s creditors. In a limited company (US corporation), the capital is divided into shares,
which are held by shareholders. Shareholders have limited liability, but they can vote at the
Annual General Meeting to elect the Board of Directors.
In a public limited company Plc (U.K.), shares are bought and sold freely, for example on
the stock exchange. Similar companies in the United States are called publicly traded
companies. Companies which sell their shares in the Stock Exchange are said to be listed or
quoted.
In USA Corp. Inc. (Corporation, Incorporated) are used to denote corporations (companies)
Franchising: A franchise is an authority that is sold to someone (franchisee) by an
organisation (franchiser), allowing the franchisees to sell the franchiser’s goods or services.
Businesses vary in size, from the self-employed person working alone, through the small and
medium enterprise (SME) to the large multinational with activities and subsidiaries in
several countries.

23
For further reading and comparison with the types of Spanish business, read file ‘Tipos de entidades
empresariales españolas’ in moodle, unit 1.

Alliances & Acquisitions

As business and the world economy become increasingly competitive, more and more companies are having to
strengthen their operations to remain profitable. Companies can go about this in a number of ways, including
the following:
Joint venture: This is when two or more companies agree to collaborate and jointly invest in a separate business or
project. This type of deal allows the partners to combine their strengths in one specific area.
Merger: This is when two companies, often in the same industry, come together to form one company.
Companies merge for many reasons, for example, to increase market share and cut costs in certain areas, such as
research and development
Acquisition or takeover: This is when one company accumulates enough of another company's shares to take
over control and ownership.

ORAL PRACTICE

i Answer these questions:

1. What are most people's main personal assets?

2. How can a sole trader get the capital to set up a business? Think of five methods.

3. If a limited company has 5,000 shares and each share is worth £2.56, what is the capital of the
company?
4. If a private limited company goes bankrupt, do the shareholders lose their personal assets? Why?

ii) List the advantages and disadvantages of a sole trader, a limited liability partnership and a
PLC. You may read further on types of business and advantages vs disadvantages from the
pdf. file ‘Types of Business’ in moodle
Sole trader pros cons
_____________________ _____________________
_____________________ _____________________
_____________________ _____________________

LLP _____________________ _____________________

_____________________ _____________________
_____________________ _____________________
PLC _____________________ _____________________
_____________________ _____________________
_____________________ _____________________

iii) Study the connectors in the appendix at the end of this handout, then, contrast pros and
cons of ONE type of business. Then report to the class.
________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________

24
 VOCABULARY Revision
a) Match words on the left with their definitions:
go public a) sell in overseas markets
go international b) trade on the Net
launch c) offer shares on the stock market
go online d) introduce
achieve sales e) set up
establish f) reach a set target

b) Find synonyms (words with the same or similar meaning) for the following
Objective
Buy
Personnel
To found a business
A quoted company
To market a product
c) Find the opposite (antonym) of
Assets
Gains
Wholesaler
Liquidity
To split/separate
d) Word families related to the description of business activities. Complete this table :

Verb Person Noun General Noun

Manufacture Manufacturer Manufacturing
Product/ Production
Salesperson/ Seller
Retail outlet
Build
Compete Competition
Develop
Employer/employee
Purchaser
manager

e) In which of these sectors you would like to work in?

• Telecommunications/Media • Banking and finance • Food and drink

• Engineering • Transport • Retailing

• Logistics • Manufacturing. • Another service industry

• Construction • IT/Electronics • Tourism

25
 ORAL PRACTICE: DISCUSSION & LISTENING

i) Which of these companies do you or would you like to work for? Why?
a family-owned company
a multinational company
your own company (be self-employed)
______________________________________________________________________________________
______________________________________________________________________________________
_______________________________________________________________________

ii) Susan Barratt, the CEO of Nature's Way Foods, talks about the advice she would give to anyone
starting their own business. Listen and complete this extract

I hope they've got lots of. ................ 1.I think it is difficult and quite hard ................ 2,
and needs a significant level of commitment. I think it's really, really important to make
sure you understand the ................ 3 and who your customers are going to be. And how
you differentiate yourself, or make yourself different, from any of your ..................4 .in
that marketplace. People will only go to you and buy your ............ 5 or your service if they
feel it is added....................6 over and above what they can get elsewhere, or they can’t
get elsewhere.

So, for me, understanding the market and the ……...........7 is absolutely critical to the
success of the business. The other key thing is that you’ve got sufficient ……………….8

(Adapted from Cotton et Al (2012). Market Leader. pre-intemediate. London: FT. Pearsons).

26
THE PROFILE OF A COMPANY
A) -Discuss these questions with your classmates:
1- What’s a company profile?
2- Where can you find it?
3- Why are they produced?

THE CORPORATE PROFILE: CONTENT, STRUCTURE AND FUNCTION

A business or corporate profile is a concise description which, among other items of information, may
include:
- Name/ nationality/type of business & size/ business activities
- location of its headquarters
- firm's history
- its reputation and position in the market of the same sector
- summary of what the company does; the standing of its goods or services
- past, current and anticipated performance
- main markets
- mission statement
- company philosophy/culture/ strategy/
- strengths/ its reputation/
- financial data/ number and quality of its human, financial, and physical resources
- past, current and anticipated performance,
- social responsibility & sustainability
- awards and certifications
- key personnel profiles/ leader’s message
The mission statement gives the reason and purpose of existence of the company. The company history
details the history of the company, including some details of its successes, challenges and milestones.
The social responsibility section outlines how the company meets the expectations and needs of its
stakeholders. The company culture provides details of the outlook in regard to the work environment.
Publicly traded companies include a financial performance section, providing the most recent financial
information.
A company profile is an effective tool to introduce a business to prospective customers and colleagues
and investors. The company profile listed on a company website should be quite favourable and
appealing to a reasonable reader who would be led to respect the company's operations.
Any applicant for a job should view the company profile on the website and write a brief description and
views of their potential employer.
Adapted from: http://www.businessdictionary.com/definition/company-profile.html
https://www.reference.com/business-finance/format-company-profile-8032751dbe1e0663
Read more: Models and further description: https://blog.udemy.com/company-profile-
examples/

27
 READING & LISTENING

Read the following text and underline the words or phrases which are motivational language as
different from those which are purely referential/informative.
After that, watch and listen to the video presenting W&H Dental (Moodle, Unit 1).
Then, do the exercises below.

W&H Dental International success with Austrian dental technology

The W&H Group, a family-run company based in Bürmoos, Austria, is one of the leading
manufacturers of dental transmission instruments & devices in the world. Established in 1890 by
the precision engineers Weber and Hampel, the company was acquired by the Malata Family in
1958. Innovative product and service solutions, a strong focus on research and development,
vision and social responsibility have made W&H a successful local and global player. W&H has
1000 employees throughout the world, and exports its products to more than 110 countries. The
family company operates two production sites in Bürmoos (Austria), one in Brusaporto (Italy)
and 19 subsidiaries in Europe, Asia and North America. The current range of products includes
rotating instruments for restoration and prosthetics, endodontics, implantology (putting in tooth
implants) and prophylaxis, as well as instruments for the field of hygiene and maintenance and
for dental laboratories. W&H dental products are among the best quality instruments on the
market and are used in dentists’ practices, dental hospitals, dental laboratories and in micro-
surgery.

iv) These are some of the values attached to this company, what are the adjectives to
qualify the company?
Noun Adjective
Leadership
reliability
innovation
creativity
quality
sustainability
competence
openness
success

v) What other values are mentioned in the presentation?

vi) What is the slogan of W&H?

vii) Find synonym of:

At the head of, important __________________
Gadget, tool __________________
Founded ____________________
Bought _____________________
Investigation ______________________
All over ______________________
Central offices_______________________

28
 PRACTICE: ANALYSING EXAMPLES OF COMPANY PROFILES

In pairs, read the following company profiles and, comment on the following items listed in
the table on the next page:
Chocolates LACASA
In 1852, Antonio Lacasa founded a warehouse in which he sold textiles chickpeas and the chocolate that
he himself produced.
LACASA is a family-based company, founded by Antonio Lacasa (the great-grandfather of the current
owners) in Jaca (Huesca) 160 years ago. From the very beginning, its main activity focused on the
production of chocolate.
Nowadays, a century and a half later, LACASA group is firmly established as one of the main Spanish
producers, not only of chocolate, but also of children's snacks, nougats and pralines, boxed chocolates
and candies. LACASA products, furthermore, are also strongly present in many international markets,
especially in Portugal and Argentina.This international presence shows the results of the policies of
expansion that began during the nineties.
Together with traditional nougats and pralines, our Lacasitos, Conguitos and Divinos, are three of the
most emblematic products of LACASA group.
There are currently four factories in Spain: two in Zaragoza, one in Quintanar de la Orden (near Toledo
and Madrid) and another one in Oviedo. Moreover there are two branches in Lisbon (Portugal).
Average staff is over 500 employees, although this number increases up to 700 during the Christmas
Season.
Turnover: The great presence of LACASA products in the national and international markets has allowed
the Group to increase sales during the last years. In 2014 total sales grew, reaching 118.3 million euros.
LACASA Group was the first Spanish company in this sector to get ISO 9002 in 1994, awarded by Lloyd’s
Register Quality Assurante Ltd. Quality is still, nowadays, a main issue for LACASA. We are now certified
in BRC, IFS and ISO 9001:2008.
LACASA Group, with the aim to develop new products, varieties and packaging, uses a great part of its
annual budget in new R+D projects.
All these projects are supported, tested and approved by the Spanish Institute for Technology and
Development (CDTI).

LACASA: Core topics and language:

History:

Type of business:

Business activity:

Headquarters:

Types of products:

Size of the business:

Standing of the business:

Standing of products:

29
Financial data (turnover):

Strengths/Values:

Mission/ Vision/policy:

This list with the names of the most common sectors of economy will help you with the description of
businesses

SECTORS OF ECONOMY
- Agriculture: farming & cattle farming
- Industry: chemicals, personal care & household products, pharmaceuticals, tobacco, automobile, other
vehicles, aircraft, iron and steel, mining, building, construction materials, leather, footwear, ceramic,
glass, transport and communication, household goods, electronics, textile, food producers & processors,
beverages, information technology hardware, forestry & paper, information technology hardware.
Utilities: Oil, gas & electricity.
- Telecommunications
- Services: banking, investment companies, insurance, teaching, health service, media, software &
computer services, telecommunication services, commerce: retailers, wholesalers, tourism, property
(UK)/real estate (USA)

WRITTEN AND ORAL PRACTICE

In groups of three or four students, write the profile of a company that you know or one
of your own invention. Make sure that you include all the information of the indicated
sections of a co. profile. Or by means of their mission vision and values. Then, present it
orally to the rest of the class.
(150-200 words).

30
 APPENDIX
Grammar review: Connectors
One of the best ways to improve your writing style is to use sentence connectors. Sentence
connectors are used to express relationships between ideas and to combine sentences.

You may practise exercises online at these URLs and others you may find by yourself

http://esl.about.com/od/writingintermediate/a/w_connectors.htm
http://www.englishdaily626.com/sentence_connectors.php?005
http://www.englishgrammar.org/sentence-connectors-exercise-2/

Contrast
A) When we want to make two points and emphasise that one of them contrasts with the other,
there are a number of different words and expressions that we can use.

Probably the most common and simplest word to use is the conjunction but.
High level positions are stressful at times, but the financial rewards make these positions
very desirable indeed.

Although is also a conjunction, and can come either at the beginning of a sentence, or between
the two clauses that you wish to contrast:
Although it was raining, they went on a picnic.
They went on a picnic although it was raining.

Though can be used in exactly the same way, and is more common in informal speech: Though
it was raining, they went on a picnic.
They went on a picnic though it was raining.

If we use even though in this way, the word even stresses that what follows is surprising:
Even though he's almost ninety, he's entered the marathon.

Though can also be used as an adverb, to mean however (see below).

Frogs, though, are amphibians and not reptiles.
"Strange place, isn't it?" "Yes. Very interesting, though."

Even so also means however (see below), and comes at the beginning of the sentence:
They come from a very rich family. Even so, they're really mean with their money.

However, nevertheless (formal) are used as adverbs to show that something you are saying
contrasts with something else.
The government vowed to reduce inflation. However/Nevertheless, one year later, the
rate has increased by 3 percent.

Yet, still and emphasize that something is surprising, considering what has already been said:
United were four goals down at halftime, and were still able to win the game.
United were four goals down at halftime, and yet they were able to win the game.

31
 Connector(s)
whereas, while
in contrast,
on the other hand
unlike
despite something (noun)
despite + verb -ing
despite the fact that + clause
structure (subject + verb…)
In spite of has the same
meaning as despite.
in spite of something (noun)
in spite of + verb + -ing
in spite of this/the fact that
We prefer despite to in spite of in written English.
Examples
While high level positions are stressful at times, the financial
rewards make these positions very desirable indeed.
High level positions are stressful at times; on the other hand,
the financial rewards make these positions very desirable
indeed.
Unlike the undesirable stress of high level positions, the
financial rewards make these positions very desirable indeed.
Despite the undesirable stress of high level positions, the
financial rewards make these positions very desirable indeed.
Despite the heavy traffic, we got there on time.
Despite driving through heavy traffic, we got there on time
Despite the fact that John was much older than the others,
he won the race.
In spite of / despite the heavy traffic, we got there on time.
In spite of / despite the traffic being heavy, we got there on
time.
In spite of / despite the fact that he is much older than the
others, he won the race.
In spite of / despite being much older than the others, he
won the race.
32
 NUMBERS, QUANTITIES AND CALCULATIONS
Large and small numbers
25 twenty-five
250 two hundred and fifty
A comma is used to separate thousands from hundreds or units, and millions from thousands:
2,500 two thousand five hundred (you can also say twenty-five hundred)
25,000 twenty-five thousand
250,000 two hundred and fifty thousand
2,500,000 two million five hundred thousand or two and a half million
Hundred, thousand, million, dozen. When these words are used after a number they do not have -s, and “of” is
not used:
She has five hundred friends.
In other cases the plural form is hundreds (of), thousands (of), etc.:
There were thousands of people in. the street.
Decimals
Decimals are said with each digit separate. A full stop called ‘point’ is used before the fraction.
the temperature must be between 4.30 and 5.60 centigrade.
54.749 fifty-four point seven four nine
54.750 fifty-four point seven five oh
2.50 two point five oh
With amounts of money, the numbers after the point are read as follows:
$45.50 forty-five dollars fifty cents
€57 .25 fifty-seven euros twenty-five cents
Temperatures are read as follows:
4.3°C four point three degrees centigrade
Percentages:
The expression per cent is used after numbers. The preposition 'of' is used with percentages:
69 per cent of male shoppers ...
76 per cent of female shoppers ...
84 per cent of employees

Fractions
Simple fractions are said by using ordinal numbers.
Two-thirds of those questioned said that they liked the new colours, ....
1/2 half .. , a hall ... , one-half. ..
1/3 a third , one-third
1/4 quarter ,a quarter ... , one-quarter
1/8 an eighth. ... , one-eighth
2/3 two-thirds
3/4 three-quarters
3/8 three-eighths
As with percentages, the preposition 'of' is used when describing fractions. For example:
Three quarters of people ...
Four fifths of our customers ...
Positive and negative numbers
When you make a loss, your income is Iess than your expenditure.
When you break even, your income is the same as your expenditure.
When you make a profit, your income is more than your expenditure.
We'll make a loss oJ50 000 this year
next year we expect to break even.
we expect to make a profit ...
Negative numbers are read as follows:
-50,000 minus fifty thousand
-7.4 minus seven point four
Approximate numbers
In order to say approximate numbers, expressions such as these are used: around, about, approximately, roughly,
over, just over, almost, a little more than, more than, less. than, just under, under, etc. are used.
Be ware!

33
It is important when speaking to make a clear difference between numbers ending with -teen and those ending
with -ty, You can make the difference clear with stress as foIlows (the part of the number in bold is the part to
stress):
13 thirteen 30 thirty
14 fourteen 40 forty
15 fifteen 50 fifty

MATHEMATICAL CALCULATIONS
Addition
In small additions, we usually say and for + and is or are for =
2 + 2 = 4 Two and two are four.

In larger additions, (and in more formal style) we use plus for +, and equals or is for =
712 + 145 = 857 Seven hundred and twelve plus a hundred and forty-five is/equals eight hundred and fifty-
seven.
Subtraction
In conversational style, dealing with small numbers, people say:
7 – 4 = 3 Four from seven leaves/is three, or seven take away four leaves/is three
In a more formal style, or dealing with large numbers, minus and equals are used:
619 – 428 = 191 Six hundred and nineteen minus four hundred and twenty-eight equals a hundred and
ninety-one.

Multiplication
In small calculations, the most common approach is to say three fours, six sevens, etc, and to use are for =
3 x 4 = 12 Three fours are twelve.
In larger calculations, there are several possibilities. One way is to say times for x and is or makes for =
17 x 381 = 6477 Seventeen times three hundred and eighty-one is/makes six thousand, four hundred and
seventy-seven.
In a more formal style, we say multiplied by and equals.
Seventeen multiplied by three hundred and eighty-one equals six thousand, four hundred and seventy-
seven.

Division
In small calculations, people say:
9 ÷ 3 = 3 Three into nine goes three (times)
In larger calculations we use divided by for ÷ and equals for =
261 ÷ 9 = 29 Two hundred and sixty-one divided by nine equals twenty-nine.

34
TASK. How do you say figures and mathematical calculations? Fill in the gaps with the correct words. The
expressions in the box may help you.

an eighth a half a quarter a third add

divided by minus multiplied by over plus square
squared subtracted from take times square root of
three quarters the power of cubed

a) 3 + 7 ½ = three ____________ seven and __________ equals …

If you ____________ three ________ seven and __________, you get …

b) 3 – 7 ⅓ = three ___________ seven and __________ is …

If you ____________ seven and _________ from three, the result is….
Seven and ___________ _____________ from three is…

c) 3 x 7 ⅟4 = three ____________ seven and __________ equals …

Three _______________ seven and ___________ is …

d) 12 ÷ .012 = twelve __________ point oh one two equals …

twelve _____________ point oh one two equals …

e) 32 = three ____________ is …
the ___________ of three is …

f) √9 = the ___________ of nine is …

g) xy3 = xy ____________ is …
xy _______________ three equals…

h) 3 ⅟8 = three and ___________

g) 2 ¾ = two and ____________

Say these numbers

a) €80 b) $5,800 c) €150,000 d) €20,000
e) 3.5 f) 2.89 g) 9.875 h) 4,537,295
i) 3/4 j) 1/ 8 k) 6/7 l) 1/2
m) 15% n) 50% o) 97% p) 100%
Now write all the numbers in full, according to the way they are pronounced.

Example: $3,000,000 three million dollars

a) 5,323 g) 25.345
b) 675,021 h) 50%
c) 5/3 i) -75,000
d) $35,275 j) 3.5
e) €34.50 k) 2.89
f) £80.99 l) ¾

Glossary
enterprise to own /owner/ ownership
business/concern to trade/trade/trader

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firm to run a business/company
corporation to share/a share/shareholder
goods share capital
services to apply to
liability = responsibility for debts to be responsible/liable for debts
assets to fail
creditors to go into liquidation
debtors to go bankrupt

proprietor/ proprietorship to set up a business/ company

partner/parnership to start a business
agreement to agree to do s.th/ with s.o./on s.th. (on a price)
performance of a co.
profits to make/earn a profit
losses to make a loss/ to bear a loss
loans to raise capital /to increase capital
dividends to invest/investor / investment
contract/deed to draw up a document

Stock Exchange Market to go public

face value to do well
market value to do badly
quoted /listed company/plc
merger to merge
a takeover (bid) to take over (a co.)
joint-venture
subsidiaries to supply/supplies/suppliers
headquarters to borrow (from)
branches

demand to meet the demand

needs & wants to meet needs /wants
_________________________________
Statement:
Statement of accounts: estado de cuentas
To make a statement: hacer una declaración

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 ABBREVIATIONS

You may use http://www.wordreference.com/

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