Syllabus:

5% attendance
10% Test 1
10% Test 2
25% Midterm Test

Warm-up:
Money may not buy happiness, but I believe that with the rising cost of living, without
money, I wouldn't be able to lead a comfortable life. And I think the amount of money that
can make me happy is when I can cover expenses and buy gifts for my family, providing
support for them. Regarding work, the work environment can be crucial, but if the company's
salary offer is below what I find acceptable, I would still choose to stay where there's a higher
salary offer. After that, I would then try to find a job that brings me more comfort.

Vocabulary:

Reckoning n Sự thanh toán, sự đánh giá, sự tính toán hậu quả. Trong ngữ
cảnh này, "day of reckoning" thường được hiểu là ngày mà
những hậu quả của một hành động nào đó sẽ được đánh giá
hoặc trả giá.

Innumerate adj Thiếu kiến thức về toán học, không biết đến số học. Người
không biết tính toán hoặc không giỏi về số học

are toast are in trouble because of something you have done

Ex: You’re toast! = You’re done!

folly n an action that is very stupid and likely to have serious results

dividends n part of a company’s profits divided between people with shares

in the company

rampant adj when there is a lot of something bad, such as crime or disease, những vấn đề nghiêm
and it is very difficult to control trọng lan tràn [khắp
Synonym: crime, disease nơi: ubiquitous]

liquidity n when a business or person has money or goods that can be sold tính thanh khoản, khả
to pay debts năng chuyển đổi tài
Ex: cash, bank deposit sản thành tiền mặt
Opposite: illiquidity asset (house, gold)

colossal adj extremely big

Synonym: enormous

the City area in the center of London with many banks and financial
institutions

sitting on the idiom being part of an activity from which people can make money ngồi mát ăn bát vàng
gravy train without much effort
fuss v.p attention or excitement that is usually unnecessary or làm lớn chuyện
unwelcome
Make a fuss

curtains v.p used to say that something will end (informal) sự thất bại, kết thúc

go bust go bankrupt

shame n feeling of being publicly embarrassed because of something

wrong you did
feel ashamed of something: feel embarrassed about something.

be on the to be on the way to going bankrupt phá sản

brink/ edge/
verge of
bankruptcy

mid-noughties the middle years of the 2000s (2003-2006) giữa thập kỷ 2000
nought: cách gọi khác cho số 0

splash out phr.v to spend a lot of money on buying things, especially things that tiêu xài hoang phí
are pleasant to have but that you do not need

profound refers to deep and fundamental insights or principles that are

truths significant, meaningful, and often thought-provoking

arithmetic n refers to the branch of mathematics that deals with the toán học / số học học/
properties and manipulation of numbers phép tính

extent n refers to the degree, scope, or range of something

remuneration refers to the compensation or payment received for services, thù lao
work, or employment

millennium n a period of 1,000 years, or the time when a period of 1,000 thiên niên kỷ
years ends
the millennium: the beginning of a new millennium in the
year 2000

immense a extremely large in size or degree bao la (size)

greed n a very strong wish to continuously get more of something, lòng tham
especially food or money

deficient #sufficient

sheer a used to emphasize how very great, important, or powerful a nhấn mạnh
quality or feeling is; nothing except
a sheer weight of sth: sức nặng của….

instalment n one of a number of parts into which an amount of money that phần tiền trả góp
is owed has been divided. Payments are made regularly until
 the total amount has been paid back
instalment payment:

C. The article was written by a former Chief Executive of Barclays Bank. Read it
again and say which of these ideas are those of the writer.
1. As everyone knows, if a business runs out of money, it eventually goes bankrupt.
All business people know that you can carry on for a while if you make no profits, but that if
you run out of cash, you are toast.
2. Despite banks being concerned about liquidity and borrowing money, they have no
systems in place for managing their own cash flow.
In general, banks have no measures of cash flow that work for banking.
3. The financial crisis arose not because consumer spending was out of control, nor because
the banks were out of control, but because the government was spending too much
money. F
Any industry that pays out in cash colossal accounting profits that are largely imaginary will
go bust quickly.
4. The fact that some investment bankers received more than £2m in bonuses in the 1990s is
not only unacceptable but also incomprehensible.
From my own experience, in the mid-nineties, no more than four or five employees of
Barclays’ then-investment bank were paid more than £1m, and no one got near £2m.
5. Professionals in banking and financial services deserve to be paid 50 percent of revenues.
Paying out 50 percent of revenues to staff had become the rule, even when the ‘revenues’
did not actually consist of money.
6. It is shameful to think that neither shareholders nor bank directors were able to prevent the
financial crisis of 2008-09.
How did the shareholders let them get away with this? They were sitting on the gravy train
too, enjoying the views from the observation car (toa tàu xe lửa).

E. Phrasal verb
Carry on meaning 1 move or transport something with you

2 continue doing something

3 behave (or to misbehave) in a way that other people

disapprove of or find irritating

4 To behave like nothing has happened, to misbehave or

act in a way that people may disapprove of
a synonym for the verb 'to behave’

5 aware of is to have a sexual relationship with someone

Run out of 1 Hết sạch (đối với nguyên liệu, thời gian, tiền bạc, v.v.)

2 Hết chạy (đối với máy móc)

 Turn down 1 Từ chối hoặc không chấp nhận một đề nghị hoặc yêu cầu

2 Giảm âm lượng hoặc cường độ

Splash out 1 Chi trả một lượng lớn tiền cho một thứ gì đó, thường là
một món đắt tiền hoặc hưởng thụ.

2 Rơi nước, làm nước bắn lên

Take off 1 Nhanh chóng trở nên rất phổ biến hoặc thành công

2 Cất cánh (đối với máy bay)

Pay out 1 Chi trả một số tiền lớn, thường là tiền bồi thường hoặc
thưởng

2 Kéo cái gì đó ra khỏi một vị trí nào đó

Give away 1 Phát tán, phân phát miễn phí

2 Tiết lộ một bí mật

Get away with 1 Thực hiện hành động sai trái mà không bị phạt

2 Thoát khỏi tình huống khó khăn một cách thoải mái

Bring down 1 Làm giảm, làm suy giảm (giá cả, số liệu, tình hình, v.v.)

2 Hạ đến một vị trí thấp hơn (hạ bệ ~ dethrone)

3 make someone unhappy or depressed

get round deal with

Exercise:
1. How did the world's bankers get away with spending all that money that didn't exist?

2. Do you remember that rogue trader who brought down an entire multinational bank,
losing them millions?

3. Deborah has set up a financial services company and she's already got lots of customers - it
has really taken off.

4. Leon applied for equity finance from a business angel, but got turned down. The figures
on his business plan didn't add up.

5. It would be sheer folly to increase our spending. We need to bring it right down - we can't
carry on spending like this.
6. Some years ago, banks and building societies were giving away mortgages like sweets -
now it's impossible to get a penny out of them.

7. I came into some money recently from a lucrative investment, so I splashed out on a new
home cinema.

8. Regulators should close down a bank when its capital runs out.

Structure

V + prep + N = V + N + prep

V + pronoun + prep

V + prep + pronoun

[13/1/24]

COURSE INTRODUCTION

5% attendance, 10% Test 1, 10% Test 2, 25% Midterm Test (last day of the course)

U7: FINANCE

VOCABULARY:
Words Definition
in the early stage of life trong giai đoạn đầu đời
estate agent (n) môi giới bất động sản (high commission, not really salary)
air-traffic controller (n) giving instructions by radio to pilots of aircraft (Người
điều khiển không lưu)
moonlighting job (night, weekend) nghề tay trái
reckoning (n) (trả giá) - calculating sth
- a time when somebody’s actions will be judged to be
right or wrong
innumerate (a) unable to count or do simple mathematics
be toast be likely to die or be in serious trouble
folly (n) a stupid action that can lead to consequences
dividends (n) part of profits divided between shareholders (lợi tức?)
rampant (a) lots of sth bad (crime or disease)
liquidity (n) (thanh owning things of value that can easily be exchanged for
khoản) cash (gold, diamonds)
colossal (a) extremely big
the City area in the centre of London with many financial
institutions
sit on the gravy train make money without much effort (ngồi mát ăn bát vàng)
fuss (n) unwelcome attention or excitement
make a fuss làm lớn chuyện, làm quá
mean curtains used to say that sth will end (hạ màn)
go bust go bankrupt = close down
be on the brink/verge/edge of bankruptcy
feel
ashamed/embarrassed
of sth
car (n) toa tàu
deficient (a) lacking
greed (n) an unacceptable desire for sth
incompetent (a) not have the ability to do sth
splash out (on sth) spend lots of money on sth
make a sudden/dramatic movement

pay out pay a large sum of money for sth

nới lỏng

get away with - steal sth and escape with it

- receive a light punishment/not be punished though you
are wrong
- manage with less of sth than expected

bring sth down reduce sth

bring sb down make sb lose power or be defeated

run out of sth use up all of a supply

 escape from a place/situation

remuneration (n) money that is paid to sb for the work they have done
(salary, bonus, commission)

take off - leave the ground and fly

- remove sth
- be successful (khởi sắc)

give away reveal sth

give sth for free

teacher’s pet con cưng của thầy cô

Activity D:
1. be toast
2. folly
3. dividends
4. rampant
5. liquidity
6. colossal (a) extremely big
7. the City
8. sit on the gravy train
9. fuss
10. means curtains
11. go bust
12. shame

Activity C:
1. L15-17
2. L21-25
3. No L70-75
4. No L55-60
5. No L80-85
6. L90-95

Activity B: c)

Activity E:
1. chống chọi, duy trì
2. hết cái gì
3. từ chối, khước từ
4. spend lots of money on sth
5. start
6. pay a large sum of money for sth
7. cho đi
8. steal sth and escape with it
receive a light punishment/not be punished though you are wrong
9. bring sth down: reduce sth
bring sb down: make sb lose power or be defeated
- turn down: reduce the volume/temperature, refuse

Exercise 1:
1. get away with
2. bring down
3. take off
4. turn down
5. bring it down; carry on
6. give away
7. splash out
8. run out
sheer (a) emphasize the size, degree or amount of sth
a sheer weight of sth
collateral (n) tài sản thế chấp -> collateralize (v) thế chấp
come into sth: inherit

Exercise 2 (p.136)
1. add it up
2. go under: go bankrupt/financially troublesome
3. pay it back
installation (n) setting up sth
4. get round sb: persuade sb
get round sth: overcome, deal with
5.

[16/01/24]
UNIT 8: CONSULTANTS

WORDS DEFINITION VIE

in-house
best practices

brief

deliverable

operational

scope

performance

specialised expertise

tangible

techniques and
methods

objective (a) khách quan

ellipsis (n) - front/initial ellipsis / middle ellipsis

personal quality tố chất

charisma (n) sức hút, khí chất

be an expert in sth = profound knowledge

= have insight

water-cooler cuộc nói chuyện xã

conversation/talk giao

trivial (a) not important

feel relieved what a relief

turn around innovation, improvement

luncheon lunch with business purpose

contemplate (v) think sth deeply suy ngẫm

appearance-conscious nhận thức ngoại hình

(a)

competent (a) có năng lực

setback difficulty problem

wrap up

pack up
 run through

hammer out

go through

debrief

circle back

having a catch up

a small nit

pile up

breathe sigh of relief

left out

Activity B: (page 74)

Management consultants can help organizations to improve their performance. They
can provide external, objective advice and specialized expertise which companies do
not have in-house. Because consultants work with multiple clients, they are also aware
of industry best practices.
Companies typically hire consultants to help with financial management, human
resources services, IT implementation, change management, strategy development
and improving operational efficiency.
Consultants generally use their own techniques and methods in order to identify
problems and recommend more effective and efficient ways of working. In the past, a
consultancy’s main deliverable on a project was generally the report. Nowadays,
clients want more tangible and practical approaches to helping them stay in business.
Critical, therefore, to the success of a project is agreeing the objectives and scope of
the work, together with the benefits to be expected and how they will be measured.
Clients need to provide as clear a brief as possible, which identifies the value that the
project will bring.

Activity 3: Reading
Living strategy and death of the-five-year plan
by Stefan Stern
Is Strategy Dead? Chief strategy officers will deny it. Some strategy consultants may reject
the idea, too. But markets are unpredictable. The economic outlook is uncertain. The world
has changed. If old-style strategy formulation is not exactly dead, then it is hardly in the best
of health. During periods of recession, many leadership teams have only one strategic goal in
mind: survival. Grander visions are filed away or forgotten. In a recent paper, ‘Thriving
under adversity’, senior Boston Consulting Group partners Martin Reeves and Michael
Deimler argue that, in recessions, simply cutting costs has not been enough to ensure a
healthy recovery. ‘If survival buys time, it does not guarantee sustainable competitive
advantage,’ they write. The winners in downturns have pursued, and achieved, increased
sales.
So companies need a strategy for growth. But I began by arguing that the traditional approach
to developing strategy – long, internal debate leading to the announcement of three-or five-
year plans – seems to belong to another era. So what does smart, 21st-century strategy
development look like? Unsurprisingly, some sharp minds in the strategy consultancies have
been giving this question some thought. At BCG, the same double act of Reeves and Deimler
has produced another paper, ‘New bases of competitive advantage’, that looks at something
they call ‘adaptive advantage’. This is strategy, too, but not as we know it.
‘Organisations with adaptive advantage recognise the unpredictability of today’s environment
and the limits of deductive analysis,’ they write. New problems are constantly emerging.
Well-run businesses respond effectively to them.
How? First, they process relevant data – ‘signals’ – quickly, and react to them. Google is an
obvious master of this, getting closer than anyone else to understanding how online
advertising works. Second, they see clearly how their business fits into a wider context.
Amazon has made sure its Kindle e-book reader is supported by a network of valuable
partners. Third, they are alive to social change and shifting customer preferences. Toyota
managed this with its hybrid Prius car. Fourth, they experiment effectively, as Procter &
Gamble does when trialling products. Lastly, they draw on the talents of the best people they
can find – whether they employ them or not. Software companies such as Red Hat and
TopCoder oversee large networks of programmers, using the best people with great
flexibility. Their permanent staff is relatively small. But they have access to many more.
This vision of a far more free-flowing, less hidebound corporation, ready to change strategic
direction fast, is shared by Lowell Bryan, a director at McKinsey. He may be a 30-year
veteran of the firm, but he discusses these ideas with the enthusiasm of a new hire.
‘You have to give up the pretence that you can predict the future,’ he says. ‘This is about
managing much more dynamically. It is a complex, adaptive world, and leaders have to
navigate their way through it. How can you say today what the economy will be like even six
months from now?’ Leaders need to show a bit more humility, while living with all this
uncertainty. ‘Strategy is really an evolving idea which develops over a long period, on a long
and winding road,’ he says. ‘And this new world calls for just-in-time decision making.’
Adapt to survive. The danger for successful companies, Mr Bryan says, is that over time they
lose the very abilities or qualities that earned them their market-leading position in the first
place. They no longer have the same flexibility, awareness and resilience they once did.
Building in some slack – unscheduled meeting time, for instance – might create the no space
where some resilience can be re-established, Mr Bryan adds.
Strategy has changed. While the eternal truths – about market position, scale and capabilities
endure, a more dynamic and adaptive approach is now needed. Leaders need to be ready to
make necessary adjustments and bigger changes.

Question: RHETORICAL QUESTION

- No Expectation of Answer: Rhetorical questions are asked without expecting a
direct response. The speaker or writer often already knows the answer or
intends to provide it.
- Emphasis or Dramatic Effect: Rhetorical questions are used to emphasize a
point, create a dramatic effect, or engage the audience's attention. They can be
persuasive or thought-provoking.
- Common in Speeches and Writing: Rhetorical questions are commonly used in
speeches, essays, and other forms of communication to convey a message or
make an argument.
- Implied Answer: While the question is posed, the answer is usually implied or
understood based on the context or the speaker's intended message.
-
Activity 5: Read the article again and complete this summary, using between one
and three words in each gap.
According to the article, old-style strategic planning is a thing of the past. However,
beyond trying to survive, companies do need a strategy for (1) …growth……….,
even in periods of (2) …recession………., in order to ensure healthy (3) ……
recovery……. and competitive advantage.
In a paper on strategic development, experts at Boston Consulting Group talk about
the concept of (4) …adaptive advantage……….. They argue good companies act in
five key ways: they respond to (5) relevant data signals………….very fast; they try
to work with (6) ……valuable partners…….; they perceive changes in (7) …
customer preferences……….; they trial their goods and services effectively; and
they work with the best (8) …people……….. Strategy has changed, and companies
need to be more (9) …flexible/ dynamic & adaptive……..

thriving under adversity: go through a tough time

adversity (n): difficulty, obstacle
apposition (n): từ đồng vị, hai cái đó là một kiểu cái này là cái kia

Activity 4: Replace the words in italic in these sentences with the words or
phrases from the article in the box.
are alive to
free-flowing
hardly
sharp
thriving

1. The new shopping mall is very successful: thriving/prosperous/ wealthy/, but the
local shops are closing down
2. Their legal team is able to think and understand things very quickly: sharp/
smart/wise.
3. Everyone was relaxed at the meal, and the conversation was continuous and
uninterrupted: free-flowing
4. This is not: hardly the best time to make radical/ significant/ essential/ big
changes to our strategy.
5. The shoe manufacturers are aware of/know about the importance of: are alive to
the threat posed by foreign imports.

Activity 6: Discuss the following questions

1. Who do you think is the intended audience of the article?
2. What is the writer’s purpose? Is there more than one, e.g. to explain/persuade?
3. Are there any quotations used in the article? For what purpose are the quotations used? 4.
What emphatic techniques are used? Are any repeated?

UNIT 10: ONLINE BUSINESS

cure to make someone with an illness healthy again chữa hết hẳn
treatment the use of drugs, exercises, etc. to cure a person pháp đồ điều trị
of an illness or injury (chưa chắc chắn
sẽ chữa dứt điểm)
be bombarded to attack a place with continuous shooting or nghĩa đen: ném
with sth bombs (nghĩa đen) bom
metaphor: bị nhồi
nhiều thông tin
(cảm thấy phiền)
wipe out to destroy something completely quét sạch
bleak If a situation is bleak, there is little or no hope ảm đạm
for the future
offensive causing offence bị xúc phạm/ bị
tổn thương
meltdown a situation in which an industry, economy, etc. nghĩa đen: băng
is badly affected by a lot of problems within a tan
short period of time (metaphor) metaphor: khủng
hoảng
flood a large amount or number of something metaphor: a large
(metaphor) number of sth
sink to (cause something or someone to) fall or Nghĩa đen: to
move to a lower level (metaphor) move down in the
ocean
Metaphor: fall
down, become
worse (chìm, giám
xuống)
Shore up - to support or improve an organization, Nghĩa đen: Chống
agreement, or system that is not working đỡ
effectively or that is likely to fail (metaphor) Metaphor: vực
- to stop a wall or a building from falling down dậy, hỗ trợ
by supporting it with building materials such as
wood or metal (nghĩa đen)
dry up - If a river, lake, etc. dries up, the water in it Nghĩa đen:
disappears (nghĩa đen) Metaphor: không
- to no longer exist or be available (metaphor) còn nữa (come to
an end not
available)
freeze Metaphor: đóng
băng, không tăng
pour - to flow quickly and in large amounts, or to Metaphor: đầu tư
cause (something) to flow in large amounts
(nghĩa đen)
Hedge your Metaphor: bảo vệ
bets tài sản (chọn
nhiều để giảm bớt
rủi ro)
 Score Metaphor: lợi thế,
chiến thắng
Deal a fatal blow = knock-out cú trời giáng
blow to sb/sth
Be around the Sắp đến gần
corner

Brick-and-mortar: refers to a traditional business model where products or services

are sold through physical storefronts or locations, often made of bricks and mortar
(physical building materials).

THE NEW CORPORATE FIREFIGHTERS

by David Gelles
A growing number of companies, including Ford Motor, PepsiCo, Wells Fargo, and
Dell, are creating new high-level jobs to ready themselves for engagement with social
media, with titles such as Director of Social Media, Vice-President of Experiential
Marketing, and Digital Communications Manager. The role of these new executives is
to monitor and influence what is being said about their companies on the Internet.

These new jobs represent a broad shift in media relations strategy at large companies.
‘Corporate communications have radically changed,’ says Andy Sernovitz, Chief
Executive of the Blog Council, an organization for heads of social media at big
companies. ‘It’s no longer just companies talking to the press, and customer service
talking to customers. All these other people showed up in the middle. They may not
be pressured and they may not be customers, but suddenly their collective voice is
bigger than the traditional channels.’

Jeanette Gibson, Director of New Media for Cisco Systems, says there is now a
mandate at Cisco that all staff be attuned to what is being said about Cisco online. ‘It
has definitely shifted how we’ve done communications,’ she says. ‘Our executives are
video-blogging every day. Everybody’s job is now social media.’

Dell, the computer maker, has one of the most robust corporate social media
programmes. Bob Pearson, former Senior Vice-President of Corporate
Communications, became Vice-President of Communities and Conversation for Dell
in 2007. He now has 45 people working for him. The core team works on ‘blog
resolution’ – trawling the web for dissatisfied customers, then attempting to contact
them to make amends. Others on Dell’s social media team manage the company’s 80
Twitter accounts and 20 Facebook pages. Still others manage IdeaStorm, Dell’s forum
for customer feedback.

Dell is taking its customer feedback seriously. When the company launched the
Latitude laptop last summer, six of the features, including a backlit keyboard and
fingerprint reader, were ideas that came from IdeaStorm. ‘It’s always worth talking
directly with your customers. It’s always worth listening to them,’ says Mr Pearson.
‘It’s the wisdom of crowds.’

Peter Shankman, a social media expert, says many companies are still reluctant to get
involved: ‘Companies are slow to adapt because they’re still not 100 percent sure they
can make money with social media,’ he says. Yet Dell, for one, has made a business
of it. By broadcasting discount alerts on Twitter, it says, it has generated more than $
1m in sales. And in the US, 59 of the 100 leading retailers, including Best Buy and
Wal-Mart, now have a fan page on Facebook, according to Rosetta, an interactive
marketing agency.

Other savings can be realized through the Web’s ability to reach many people at once.
‘If you solve someone’s problem on the phone, nobody knows,’ says Mr Sernovitz. ‘If
you solve that same problem in writing on a blog, it costs you no more, but thousands
of people are satisfied. And then, if 100 people never call because they found the
answer, you very, very quickly get to multimillion-dollar savings.’

Other companies are using Twitter to put out public-relations fires before they erupt or
to defuse a brewing crisis. In October, Comecast cable customers turned on their TVs
to watch a playoff between the Boston Red Sox and the Tampa Bay Rays. Instead,
they found an old sitcom. On Twitter, furious viewers began complaining about the
problem. Frank Eliason, Comecast’s Director of Digital Care, saw the ‘tweets’ and
soon informed users that the problem was a power outage. ‘Twitter allows for an
immediate response,’ he says.

‘Social media is much more than getting out there and having conversations,’ says Mr
Pearson of Dell. ‘It transforms a business if you use it correctly.’

B. Read the article about social media and business on the opposite page and
answer these questions
1. How many different titles can you find for the new social media job?
There are six different job titles mentioned: Director of Social Media, Vice-President
of Experiential Marketing, Digital Communications Manager, Director of New Media,
Vice-President of Communities and Conversation, Director of Digital Care, and
Senior Vice-President of Corporate Communication.
(evidence: line 5 - 6: 3 cái đầu, Director of New Media - line 30, Vice-President of
Communities and Conversation - line 43 - 45, Director of Digital Care - line 106-107,
Senior Vice-President of Corporate Communication - line 43)
2. How many different ways is Dell interacting with customers online?
In three different ways: a) the core team works on 'blog resolution'; b) others manage
the company's Twitter accounts and Facebook pages; c) another group manages
ldeaStorm, Dell's forum for customer feedback.
(evidence: line 47 par 4 cho a), line 51 cho b), line 55 cho c)
3. What impact has customer feedback had on Dell’s business?
Dell has used customer feedback to help it develop new products, by incorporating
consumer ideas into the design.
(evidence: line 57 - 67 par 5)
4. What are some of the financial benefits of engaging with social networks?
There are two mentioned in the article: a) by broadcasting discount alerts on Twitter,
it may be possible to generate more sales; b) by solving a customer's problem by
writing on a blog, it is more cost-effective than dealing with a customer by phone
because other people can read the information online and find answers to their queries.
(evidence: line 76 par 6 cho a), line 86 par 7 cho b)
5. What are some of the PR benefits for companies?
It's a fast and efficient way to get your message out to consumers, especially if there is
a problem or crisis.
(evidence: line 89 par 7 cho ý đầu, line 96 - 98 par 8 cho ý problem and crisis)

C. Find words or phrases in the article that are similar to or mean the following.
1. when you become involved with someone or something in order to understand them
(paragraph 1) engagement
2. major change in the way people think about something or in the way something is done
(paragraph 2) broad shift
3. It doesn’t happen anymore. (paragraph 2) no longer
4. appeared, often unexpectedly (paragraph 2) showed up
5. be or become familiar with the way someone thinks or behaves so that you can react to
them in a suitable way (paragraph 3) be attuned
6. searching through a lot of documents, lists, etc. in order to find out information (paragraph
4) trawling
7. to do something to show you are sorry for hurting or upsetting someone, especially
something that makes it better for them (paragraph 4) make amends
8. sending out a message or programme, especially by radio, TV or the Internet (paragraph 6)
broadcasting
9. achieved (paragraph 7) realized
10. extinguish fires by pouring water on them (figurative) (paragraph 8) put out
11. improve a difficult or dangerous situation, for example by making people less angry or by
dealing with the cause(s) of a problem (paragraph 8) defuse
12. a potentially bad or unpleasant situation (paragraph 8) a brewing crisis

LANGUAGE REFERENCE - METAPHOR

1. Match these words (a-f) to the pairs of literal and more metaphorical
meanings (1-6)
a) blow
b) flood
c) fuel
d) grass roots
e) offensive
f) track
1) offensive
planned military attack (literal)
planned set of actions in opposition to sth (metaphorical)
2) grass roots
part of grass that grows under the ground (literal)
ordinary people in society or an organisation (metaphorical)
3) flood:
large amount of water that covers an area that is usually dry (literal)
very large number (metaphorical)
4) blow:
planned military attack (literal)
action or event that causes a bad effect for someone (metaphorical)
5) fuel:
substance that can be burned to produce heat or energy (literal)
make something bad, increase or become stronger (metaphorical)
6) track:
two metal lines along which trains travel (literal)
the direction in which an idea has developed or might develop (metaphorical)

2. Complete the article below with the correct word or phrase in the box
 battle blow counter-offensive flood
fuelled grass-roots put out the fire twin tracks

Criticism That Spread Like A Rash

by Jonathan Birchall
A new version of a leading brand of nappies has been beset in the US by online
critics since its launch at the start of this year. As part of the promotion campaign,
samples of the new, lighter product - known as diapers in the US - were sent out to
bloggers in order to build grass-roots enthusiasm.
Almost immediately, complaints appeared in online reviews, claiming the
nappies worked poorly and caused nappy rash. Then, in a surprise blow, the
Consumer Product Safety Commission decided to look into parents' complaints,
launching a flood of mainstream media coverage.
The company immediately launched a full-scale counter-offensive and put out
a strongly worded statement against what it called 'growing, but completely false,
rumors fuelled by social media "When I first read their press release,' says one
blogger. ‘it did not help put out the fire or make people feel their voices were being
heard.
The battle is far from over. The brand is still scoring below competitors on
consumer product-review So, according to the company, it is pursuing twin tracks
vigorously repudiating claims that the diapers are harmful, While also trying to
communicate all that we're doing to listen and act to help moms and dads’.

UNIT 11: NEW BUSINESS

VOCABULARY
prototype the first example of a machine or other industrial sample
product, from which all later forms are developed
gauge (v) to calculate an amount, especially by using a to
measuring device measure
net (v) to have left after you have subtracted the cost of what
you are selling, and other expenses related to it
notoriously in a way that is famous for something bad tai tiếng
(adv) gain notoriously for sth
notorious (a), notoriety (n)
one-trick pony is a person or thing considered as being limited to only
 one single talent, capability or quality. In the article, it
means a business with a single product for sale.
sofapreneur who run online business
(n)
seasoned (a) - having a lot of experience of doing something and
therefore knowing how to do it well
- Seasoned food has had salt, pepper, herbs, or spices
added to it
Olderpreneur older people who are starting a business

ARTICLE 1: Go The Distance With A One-trick Pony

by Jonathan Moules

If you are trying to launch a new product-based business your most difficult task is
likely to be finding a buyer. If you already have an established business, your most
difficult task at the moment is probably getting paid by customers. Mandy Haberman
managed to solve both these problems at a stroke. In 1995 she came up with a clever
design for a non-spill child’s drinking vessel, called the Anywayup Cup.

She hawked a prototype cup around 18 companies, from pharmacy chain Boots to
baby-bottle 15 manufacturer Avent. However, no one wanted to buy from a company
with a single product. 'I walked around with my prototype in my bag for about a year,’
she says.

The solution came about by accident. A couple of entrepreneurs suggested that she try
to market her idea at a baby-products trade show. "We went with the intention of just
25 gauging interest, but took € 10,000 of advance orders. Haberman explains.

The positive reaction to her product was all the more remarkable given that the choice
of show had 30 actually been a mistake. Haberman had been advised to attend a show
called The Nursery Fair, but booked one called Nursery World, which was aimed at
childcare providers and nursery managers. ‘I made a complete cock-up,’ she admits.

However, the error proved to be the making of her business because it put Haberman
into contact with people eager to buy her product in significant volumes. ‘We were
mobbed,’ she recalls. The order money gave her the seed capital she needed to start
manufacturing.

The Anywayup Cup is now sold worldwide, generating annual sales of about £40m.
Haberman licenses the product to five companies. netting her up to about £1 a year.
50 Now that the Anywayup Cup is a ‘mature’ product. Haberman only expects to
make between £250.000 and £500,000 this year. However, she is putting this money
into ss developing a new range of products.

Haberman's selling tip for product-based businesses is to try and find something that
will grab someone's attention. It is notoriously hard to get a meeting with buyers at
large retailers - and even harder to achieve a deal. Haberman's tactic was to send one
of her Anywayup Cups filled with Ribena* in the post, os with a message to the
recipient that if the item arrived still full, then the product had worked. This tactic
worked on Tesco's** buyer, Haberman says.

At a meeting with another buyer, she decided to grab his attention by throwing her
Ribena-filled Anywayup Cup on his desk. The fact that the cup did not burst 75 open
all over his in-tray did not turn into any orders. 'It wasn't that he wasn't interested. It
was just that he didn't talk a number that was acceptable,’ Haberman says.

*Ribena: a blackcurrant-flavoured drink

**Tesco: a multinational supermarket chain

NOTE:
Business sector/ industry:
- Primary: raw materials: mining, fishing, farming
- Secondary: manufacturing tangible products
- Tertiary: services (intangible products): tourism, banking, insurance,
marketing, sales,...
- Quaternary: use intellectual knowledge and high technology: high education,
research, AI, fintech,...

B. Answer these questions

1. What do you understand by the expression a one-trick pony?
A one-trick pony (informal) is a person or thing considered as being limited to only
one single talent, capability or quality. In the article, it means a business with a single
product for sale.
2. What is probably the most challenging task for product-based start-ups? And
for more established businesses?
The most challenging task for start-ups is finding a buyer/customer; for more
established businesses, it's getting paid.
3. Why is the Anywayup Cup unique? How successful has it been?
Mandy Haberman's Anywayup Cup's is unique because it's a child's cup that you can
hold anyway up but it won't spill. It's been very successful, as it is sold worldwide,
generating annual sales of about £40m, and is now what's known as a mature product.
4. How did Mandy Haberman get her first orders? To what extent does she owe
her success to luck?
By accident by attending a trade fair: Haberman meant to attend a show called The
Nursery Fair, but booked one called Nursery World that was aimed at childcare
providers and nursery managers. She owes part of her success to luck because her
initial error actually put her into contact with customers who were eager to buy her
product in large volumes.
5. What is her selling tip for product-based businesses?
Her selling tip is to try and find something that will grab someone's attention. (It is
very hard to get a meeting with buyers at large retailers - and even harder to achieve a
deal.)
C. What do the words or phrases in italic mean? Choose the correct meaning (a
or b) according to the context in the article.

1. ‘...both these problems at a stroke’

b) with a single, sudden action
2. ‘She came up with a clever design…’
a) thought of an idea or answer
3. ‘She hawked a prototype cup around…
a) tried to sell goods by going from place to place and persuading people to buy
them.
4. ‘...with the intention of just gauging interest…’
b) judging how people feel about sth or what they are likely to do
5. ‘... the error proved to be the making of her business …’
a) led to the success of someone or something.
6. ‘...netting her up to about £1m a year.’
a) earning a particular amount of money as a profit after tax (informal)

cock-up: mistake
notorious (a) - notoriously (adv) - notoriety (n)
gain notoriety for something
gain reputation for
ARTICLE 2: WORK LONGER, WORK OLDER
by Luke Johnson
This decade will see older people working longer. That is not surprising. In addition to
governments from Britain to Greece raising the retirement age, low interest rates and
the reduction in pension benefits mean many people will not have enough money at
age 65 to enjoy their sunset years. They will be forced to work to make ends meet.

What I find interesting - and what could change the face of business - is that they may
prefer to do that working for themselves. A recent study suggests that one in six
Britons aged 46-65 hopes to embark on a new business venture rather than retire. This
is seven times more than the number of possible start-ups from their parents'
generation - and could amount to a million new businesses in the UK.

Their experience, wisdom and connections will be their secret weapons. But they are
also likely to have more time and money to spare than current entrepreneurs. The
typical age today for someone to start his/her own business is between 30 and 45.
Inconveniently, this is also when you are likely to have young children and a
mortgage. ‘Olderpreneurs’, meanwhile, will often be close to seeing off these
responsibilities - as well as eager for ways to stay in touch with people from all
generations, as customers, partners, suppliers or perhaps staff. I predict many great
companies will be started in the next few years.

NOTE:
Olderpreneurs are older people who are starting a business. A recent study says that
one in six Britons aged 46-65 hopes to embark on a new business venture rather than
retire.

UNIT 12: PROJECT MANAGEMENT

ARTICLE: FINE-TUNE YOUR PROJECT SCHEDULE

Do you have a staff member sitting idly in the midst of the other busy ones? If so, your
project schedule might need fine-tuning.
One of the most common problems that project managers weep about is 'unrealistic
timelines', a common consequence of clients having set their expectations too high.
Ironically, there are times in a project when a staff member is waiting for a colleague
to finish so he can start his own task. Does the project manager shout foul and blame
other people? Chances are, the project schedule needs a second look.

The basic foundation of managing a project is creating an efficient and realistic

project schedule. During project planning, the project manager is given the chance to
give it some fine-tuning. Given that most projects do not have the luxury of time, the
project manager's objective is to create the shortest schedule possible without
sacrificing its scope and quality.

THE CRITICAL PATH

If you want to deliver on time, or shorten the project duration, focus your attention on
the critical path. When the critical path is shortened, the project is finished early.
When the critical path is maintained, the project is finished on time. When the critical
path is extended, the project is delayed. It cannot be overempha-sised here that if there
are any tasks in the schedule that a manager should pay close attention to, it is always
those in the critical path.

It is quite funny to note that some managers simply stretch the bars in the Gantt chart
so that all tasks finish in parallel: doing so simply clouds the entire project schedule.
Doing the right things and doing them right are two important ingredients to
successful project planning.

Here are some right things done right:

• Estimate the tasks individually. Make a list of tasks first. Do not put them directly
into the Gant chart, because doing so may influence the estimates and the timeline.
• Identify the task dependencies. Some tasks cannot start until prior tasks are finished.
Obviously, you can't install a roof over a house with no walls.
• Create your Gantt chart. Make sure you use the original estimates and adjust the task
based on dependencies. Don't try to schedule putting on the roof and building walls in
parallel.
• Identify your critical path(s). Find the longest path of tasks in the Gantt chart. Take
note that you may have more than one critical path in your schedule; and not all tasks
are part of the critical path.

SLACK TIME
Slack time, as the name implies, is the time when one can relax, delay a task but still
finish the project on time. Managers tend to remove it from the schedule to impress
their bosses or clients. While this may look good on the surface, there are
consequences when it is not done properly.

For starters, accept the fact that slack times are a normal phenomenon in project
schedules. The role of a manager is to identify and minimise them. Once there is
acceptance, start thinking of ways to reduce slack times and improve productivity.

CRASHING
Crashing is the process of shortening delivery time. It is used when stakeholders ask
for a faster delivery without reducing the scope of work. For one, do not crash tasks
that are strictly interdependent on one another, such as applying a second coat of
paint. Note that crashing works only on tasks in the critical path because reducing
time on non-critical tasks will not affect the project delivery time.

You can put two people to work in parallel and have the task completed in half the
time. Or you can assign a more productive resource who can finish the work earlier. In
any case, make sure you assess the risks. Also, make sure you are not over-assign-ing
critical tasks to your best team member. It is mindless to assume that your best
resource can work 16 hours a day for three weeks.