English for Specific Purposes (E.S.

P)
30 hours Course

IPS regulations state that it is up to the lecturer to choose the domain. With
Mr. KAPUNDU the domain is Business English because there are things that we
need to know. In everything we do there is business.
LENOR (Learning English for No Obvious Reason)

I. Objectives

a. General objectives
By the end of this course, G4 or G3 students should be able to read and
understand, and discus any business text, story, articles related to Business
English.

b. Specific objectives
By the end of this course, G4 or G3 students should be able
1o to acquaint business words, phrases, expressions and the like.
2o to communicate effectively and efficiently in business situation (means
to reach the goal of message)

II. Course outline

The course outline will include the following points or chapters:

CHAPTER ONE: ON COMPANY STRUCTURES

1.1. Definition of the concept company or firm, or organization
1.2. Organization chart
1.3. Different departments within a company
1.3.1. Human Resources Department
1.3.2. Public Relations Department
 1.3.3. Finance Department
1.3.4. Production Department
1.4. Exercises
Partial conclusion

CHAPTER ONE: RECRUITMENT

Note: The link between the first and second chapters is the recruitment takes
place within a company.

II.1. What is recruitment?

-Recruiter
-Recruit
II.2. Types of recruitments
II.2.1. External recruitment
-Advantages
-Disadvantages
II.2.2. Internal recruitment
-Advantages
-Disadvantages
II.2.3. Methods or techniques used in recruitment
II.3. On application letter, C.V and other important elements (letter-
writing)
II.4. Exercises
Partial conclusion

CHAPTER THREE: RETAILING

CHAPTER FOUR: FRANCHISING
CHAPTER FIVE: BANKING
3.4. Exercises
Partial conclusion
CHAPTER SIX: IMPORT & EXPORT
CHAPTER SEVEN: BUSINESS WORDS, PHRASES, EXPRESSIONS, ETC.
CONCLUSION
BIBLIOGRAPHY
 CHAPTER ONE: ON COMPANY
STURCTURES

1.1. Definition of the concept company or firm

A company: is a specific organization which provides different kinds of
goods or services for the benefit of people. In other terms
It is an entity having legal personality, and thus able to own property and to
sue and be sued in its own name; it is a corporation.
1.2. Organization chart
Most companies are made up of three groups of people: the shareholders
(who provides the capital), the management and the workforce.

Boards of Directors

Management Director

Senior management

Middle management

At the top of a company hierarchy is the board of directors, headed by the

chairperson or president.
The board is responsible for policy decisions and strategies. It will usually
appoint a managing director or chief executive officer, who has overall
responsibility for the running of the business.
Senior managers or company officers head of the various departments or
functions within the company which may include the following
a. Marketing
b. Public Relations
c. Information Technology
d. Personnel or Human Resources
e. Finance
f. Production
g. Research and Development (R&D)
etc.

1.3. Different Departments within a company

a. Marketing
Marketer first finds out what the clients need. The concepts of exchange
and relationships lead to the concept of market. A market is a set of actual and
potential buyers of a product. These buyers share a particular need or want
that can be satisfied through exchanges and relationships. Thus, the size of a
market depends on the number of people exhibit the need, have resources to
engage in exchange, and are willing to offer these resources in exchange for
what they want.
Originally the term market stood for the place where buyers and sellers
gathered to exchange their goods such as a village square.
Economists use the term to refer to a collection of buyers and sellers who
transact in a particular product class as in the housing market or the gain
market.
Marketers, however, see the sellers as constituting an industry and the
buyers as constituting a market. The sellers and buyers are connected by four
flows. The sellers send products, services and communication to the market; in
return, they receive money and information. The inner loop shows an
exchange of money for goods; the outer loop shows an exchange of
information.

Modern economies operate on the principle.

PHR: deals with salaries and recruitment
Finance: treats problems related to money
Production: manufacture
I.T: It consist of supplying technological information to different departments
Google: a company from America that provides technological service to
different companies. Now it’s developed into a network.
Research and Development: consist of the further of a company. Consists of
innovations
Public Relations: consists of getting in touch with other companies or other
departments within the company. It is in charge of providing services to
personnel such as accommodation, trip, and many more.
Note: All the departments within a company are important because they are all
in connection or interact or are in a system.
Note: Talk briefly about company structures? The company structure consists
of organization chart, different departments and their services.
CHAPTER TWO:
RECRUITMENT

When a company needs to recruit or employs new people, it may decide

to advertise the job or position in the appointments section of a newspaper.
People who are interested can then apply for the job by sending a letter of
application or a covering letter (cover letter US) and curriculum vitae.
We apply for a position when we feel being interested in the position. (a
résumé is a curriculum vitae) containing details of the education and
experience of the applicant.
A company may also ask candidates to complete a standard application
form (a written model ready). The company’s human resources department
will then select the most suitable applications and prepare a short list of
applicants or candidates who are invited attend an interview.
The role of Human Resources Department is to select the most suitable
applications according to their criteria.
What is an interview? An interview is a conversation-like between two or
more people. Within an interview there is an interviewer (a person who asks
questions) and the interviewee (a person who answers questions)
1. Goal of interview
The goal of interview is to find out whether the candidate deserves to be
recruited. It is during the interview you can talk about your salary. Very often
candidates are embarrassed to talk about their salary. An interviewee cannot
ask more questions than the interviewer. Another way for the company to hire
is using the services of a recruitment agency (US Search Firm) who will provide
them a list of suitable candidates. Example of ONEM in the Democratic
Republic of Congo.

2. Types of recruitments
 Concerning types of recruitments we have two main types of
recruitments

-Internal recruitment
-External recruitment

Internal recruitment consists of recruiting people within the company while

external recruitment is out of the company.

3. Advantages/disadvantages of Internal Recruitment and External

Recruitment

a. Advantages
People or candidates will be acquainted with the system of company, the
company won’t spend a lot of money.
b. Disadvantages
-Problem of hatred within the company about the promotion of one of them,
Problem of hypocrisy
-The lack of innovation.
4. Advantages and disadvantages of External recruitment
a. Advantages
-Innovation (new ideas)
-Matter of serious
b.Disadvantages
-Loss of money for the training of new comers
-Frustration of people within the comp any against the new comer.

22.3. Methods and Techniques used in recruitment

Different methods may be may be used to recruit people in group, discuss the
following:

- Candidates may be asked to:

 1. Tell a joke
2. Take part in a team game with employees within the company
3. Make a five minutes speech
4. Complete probation period before being accepted

- Employees may:

1. Offer a joke to the husband or wife of a good candidate to prefer to

recruit people from the families of employees
2. Ask candidates to complete a personality test (a personality test is a test
which has to deal with one’s behavior)
3. Have candidates handwriting analyzed (graphology)

Which methods do you think are acceptable and why?

Who did it be possible to recruit like this in your country?

Methods
1-Tell a joke this can stand in one way and cannot stand in another way
(problem of being funny or unserious…)
2-Take part in a team with employees within the company. This one can stand
because playing is not a bad thing.
3-Make five minutes speech: This one is standable because it is a way to know
if candidates will be able to communicate with others.
4-Complete probation: This can stand because it shows if the candidate is
capable.

Employees may:
1-Offer a joke to the husband or a wife of a good candidate: This can stand or
not instance it is not good in our country.
2-Prefer to recruit people from the families of employees: This one exist.
3-Ask candidates to complete a personality test. It is done to know how or
what is the candidates’ behavior that is why we moderate in everything.
Have candidates ‘’handwriting ‘’ this one can prove if the candidate is
intelligent or not. People have to improve their better writer.

2.3. On letter writing

There are three forms of letters:
1. Block(ed) form
2. Semi-block(ed) form
3. Depressed form

Any business, official or administrative letters have different parts.

-The first part is called sender’s address

-The second part is the date
-The third part is inside address (the address for the company or receiver)
-The fourth part is salutation
-The fifth part is the body (the ingredients, the text, the content, the message)
-The sixth part is the closing
-The seventh part is the signature
NOTE: We call heading when we combine 1 and 2and the letter has 6 parts.

Block(ed) form

Compare the following formats in letter business letter writing, we use the
following terms formats/layout/appearances
Block(ed)

1.---------------------------------------------
-----------------------------------------------
-----------------------------------------------

2.---------------------------------------------

3.----------------------------------------------
------------------------------------------------
------------------------------------------------

4.----------------------------------------------

5.--------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------

6.-----------------------------------------------
-------------------------------------------------

7.-----------------------------------------------

NOTE: -1 and 2 can also be combined then the letter will have 6 parts.
-6 and 7 can also follow the side of 1 and 2.
Semi-block(ed)

1.-----------------------------------------------
--------------------------------------------------
--------------------------------------------------

2.-----------------------------------------------

3.--------------------------------------------
-----------------------------------------------
-----------------------------------------------

4.--------------------------------------------

5.---------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------

------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------

------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------

6.---------------------------------------------
-----------------------------------------------

7.---------------------------------------------
NOTE: Semi-block(ed) differs from block(ed) at the level of the body. Semi-
block(ed) is indented but block(ed) is blocked. 6 and 7 can also be on the side
of 1 and 2.
Indented

1.-----------------------
---------------------------------------
---------------------------------------

2.-----------------------

3.------------------------------------------
--------------------------------------------------------
--------------------------------------------------------

4.-----------------------------------------

5.----------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------

6.-----------------------
--------------------------------------
--------------------------------------

7.-----------------------

NOTE: Here every part is indented.

There are three categories of letters:
-Official letter
-Administrative letter
-Business letter
Official letters are type of communication that is used for various purposes. We
can write an official letter to apply for a job, to ask for permission, to inquire
about something, to express an opinion and many more.
Official letters have the following characteristics:
1- They use certain predetermined format.
2- Their language is formal.
A formal language is a language that is accepted by government.
3- They have to be as short as possible and to the point.
4- Should be written on only one of side of a page.
Parts of an official letter
 Sender’s address 1. ----------------------------------

Date 2. ----------------------------------

3.------------------------------------- Inside address

4.------------------------------------- Salutation

5.-----------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------
Body

6.--------------------------------------- Closing

7.--------------------------------------- Signature

An official letter has several parts include:

1. Sender’s address:
This enables the recipient to know where to send a reply to. It is the
address of the writer of the letter.
Example:
Av. Ilunga
23, Golf Malela
Lubumbashi
Tel: +243812652122
Email: mibamatthew@gmail.com
The one who writes letters is writer, sender, and addressor.
The one who receives is recipient, addressee receiver, or reader

2. Date:
It is written after skipping one line below after the sender’s address.
They are several ways of writing dates. Example: August 18th, 2020.
3. Inside address or recipient:
This is written after skipping one line below the date.
The address of the company we get it from the advertisement.

4. Salutation:
Official letters use formal greetings, such as
-Dear Mr. Kapundu
-Dear Mrs. Lufulwabo
-Dear Ms. Makungu
-Dear Sir
-Dear Madam
-The Managing the Director
-Dear Ladies and Gentlemen
-Dear Sir/Madam
Ms. (Miss) can be for married or unmarried if you are unable to detect.
There is a colon (:) or comma (,) at the end of salutation. Dear Sir: or
Dear Sir,

5. The body:
This is (text, message, ingredients, content) where the writer puts the
contents of the letter. If it is long it is divided into paragraphs or
indented. The body is written after skipping one line from the salutation.
It has three short paragraphs:
1) The way you got the news
2) Your title or education
3) Talk about your contribution

What is the difference between application letter and motivation letter?

The difference is very slight, within a motivation letter you show the
recruiter that you are going to bring a lot of innovations but in an
application letter you are brief.
6. Closing:
When the writer has come to the end of the body, one line is skipped
and the closing statement is written.
Examples of letter closing statements are:
-Sincerely
 -Yours Sincerely
-Sincerely yours
-Yours faithful
-Faithful yours
-Truly
-Yours truly
-Cordially
-Yours cordially
Yours faithful is preferred way of closing official letters, especially those
that begin with Dear Sir or Dear Madam.
Sincerely is used for letters that begin with names eg. Dear M. Kapundu.

7. Signature:
This is written after a line is skipped below the closing.
The writer’s name is below the signature, it is followed by the writer’s
title if there is one.

Example of an application letter

Mr. Satele Tele

36, Av. de l’indepence
Matadi
April 21st, 1996

Dear Director,
I am writing in reply to your advertisement concerning an opening for
the post of chief accountant for your branch office of Kimpese.
Please find enclosed a copy of my C.V. and testimonials from my former
employer. As you can see, I graduated in Economics at Unikin in February 1990
and held the same 1990 to January 1992, then in Bros and Bonds SPRL from
1992 to last February. The reasn I left this company is clearly stated in my C.V.
If you engage me, I will do my best indeed to please you.
 Faithful Yours

Satele Tele

Example of an advertisement

Chief accountant
Required for our branch of Kimpese. Send your application, plus testimonials
and C.V. to VUNA FIOTI INETR SERVICE B.P 122 Mata, Bas-Congo; Graduate
Degree in Economics, a 5 year of experience; Good knowledge of French and
English, and the main local language essential. Deadline: May 9 th, 196
 C.V
1. References
2. Education
3. Activity
4. Skills
5. Personal Details
6. Professional Experience

I. Personal details
FIONA SCOTT
52, Hanover street
Edinburgh EH2 5LM
Scotland
Phone: 0815646380
E-mail: Fionascot@caledonia-net

II. Education
-From 1995-2001: Primary school certificate
-From 2001-2007: Diplome d’état in Biochemistry
-From 2007-2010: Undergraduate degree in English

III. Professional Experiences

1. Secretary of the local branch of action 2010-2012
2. Chief account at G.C.M. from 2012-2015

IV. References
-Meet/talk to Geoffrey Williams Brenda.
Phone: 0812564680
-G.C.M. number: 0852021564

V. Skills
-Good at English
-Proficient at English
-Bit of Lingala or a little in Lingala (means essential of Lingala)

VI. Activities
-Football
-Swimming
-Preaching the Gospel

Done or issued in Lubumbashi, August 21 st, 2020

CHAPTER THREE: RETAILING

1. Definition
-According to Concise Oxford English Dictionary, Retailing is the sale of goods
to the public for use or consumption rather than for sale.

-To retail is to sell in small quantities; to sell to many,

-The sale of commodities in small quantities (New Webster’s Dictionary),

-Retailing is selling goods to the public and not to shops. The opposite is
wholesaler (Longman primary dictionary)

-Retail is the sale of goods directly to the consumer, encompassing the

storefronts, mail-order, websites ,etc. and the corporate mechanisms ,branding,
advertising, etc. that support them, which are involved in the business of selling
and point of sale marketing retail goods to the public. (Online English
dictionary).

-Retailing is the activity of selling goods to the public in stores or on the

internet.

In a nutshell retail is the process of selling consumer goods or services to

customers through multiple channels of distribution to earn a profit. Retailers
satisfy demand identified through a supply chain…Retail markets and shops
have a very ancient history, dating back to antiquity.

How does the supply work?

Manufacturers → wholesalers → retailers → consumer

2. Origins

The word retail comes from the old French verb tailler, meaning “to cut
off, clip, pare, and divide in terms of tailoring.” It was first recorded as a noun
in 1433 with the meaning of “a sale in small quantities” from the Middle French
verb retailer meaning “a piece cut off, shred, scrap, paring.” At the present, the
meaning of the word retail (in English, French, Dutch, and German) refers to the
sale of small quantities of items to consumers (as opposed to wholesale).

3. Types
Types of retail outlets by marketing strategy include:
-Shopping arcade
-Anchor store
-Bazaar: market place
-Boutique: small shop that sells fashionable clothes, jewelry and the like
-Category killer:
-Chain store: retail outlet that is one of a group of similar establishments
-Cooperative store
-Convenience store: small retail store in a residential area
-Departments stores: large store of different goods or services
-Discount store: store that sells products at prices lower than other stores
-E-tailer: company that does business via internet
-General store: store that sells a variety of useful things
-Give-away shop: shop where people and take goods without paying or getting
paid
-Hawker (peddler): itinerant seller of small goods
-Costermonger or street vendor: seller of fruits and vegetables in the street
-High street store: store on the main street
-Hypermarket: a combination of department store and supermarket
-Pop-up retail
-Market place:
-Vending machine: automatic machine that accepts money and dispenses
merchandise
-No frills
-Warehouse clubs: large store that sells at discount prices to members of the
club
-Warehouse stores: food and grocery retailer that sells goods on pallets and
offer discount
-Automated retail:
-Big-box stores: very large retail
-Second-hand shop: shop that sells used goods
-Charity shop: shop to where goods are donated, cheaper price, the profit goes
to charity

4. Advantages and disadvantages

Advantages
-Creates job: more customers are drawn to the retail stores so more employees
are needed

-Awareness: potential customers of a product have to know that the product

exists for the sales of the product to be successful.

-Boosts profits: The more potential customers who walk through the door
provides a potential for higher sales, and a larger sales volume brings increased
profitability to the retail establishment.

-Creates a competitive environment: retail marketing creates a healthy

competitive environment between retailers. This benefits consumers because it
helps to keep their costs down when purchasing products. Retail marketing also
helps keep competitions aware of what the other is charging for the same
product, it allows retailers to adjust prices as necessary to stay competitive in
the market.

-Greater profits, smaller scale: Retailers sell products directly to end users; they
are able to earn more for the same items than wholesalers, who must allow room
in their pricing structures for retailers to mark up these same products. A
merchant selling a shirt directly to customers can ask full price, but a wholesaler
offering the same shirt must sell in to retailers at a discount so those retailers can
also earn a slice of pie.

-More sales options, higher marketing costs: retail business provides a wealth
of marketing opportunities, from sampling food products, to dressing rooms to
try-on clothing to in-person advice and recommendations. These marketing
strategies help sell retail items and develop relationships that can lead to repeat
business. However they can be expensive and require extra labor and
infrastructure such as staffing to hand out advice and samples, or extra floor
space to install dressing rooms.

Disadvantages

-Go online, lose customer relationships: Online retailing offers the advantage
of a retail pricing structure with the added boost of drop shipping, if this model
makes sense for your business. By ordering directly from manufacturers and
wholesalers only when customers place their orders, you circumvent the need to
dedicate capital and space to inventory waiting to be sold. However, online
retailers don’t enjoy the marketing advantages of meeting customers face-to-
face and building strong symbiotic relationships.

5. Conclusion
Retailing is very beneficial for the main reason that it gives more job
opportunities to lower classes.

CHAPTER FOUR: FRANCHISING

1. Definition
 Franchising is the arrangement where one party (the franchiser) grants
another party (the franchisee) the right to use its trademark or trade-name as
well as certain business systems and processes, to produce and market a good or
service according to certain specifications.
The franchisee usually pays a one-time franchise fee plus a percentage of
sales revenue as royalty, and gains (1) immediate name recognition, (2) tried
and tested products, (3) standard building design and décor, (4) detailed
techniques in running and promoting the business, (5) training of employees,
and (6) ongoing help in promoting and upgrading of the products.
2. Origine of franchising

Most business historians date the beginning of franchising as a concept to the

Middle Ages, when feudal lords initiated the practice of selling to others the
rights to collect taxes and operate markets on their behalf. However, this makes
the earliest examples of franchising a political activity rather than a business
activity. The first examples of franchising as a way of doing business are found
in mid-nineteenth century Germany, where brewers set up contracts with tavern
owners to sell their beer exclusively in the taverns.

In the United States, the earliest example of the use of franchising was not
found in breweries and taverns. Instead, it occurred in the sale of products to
housewives located on the American prairie. In 1851, Isaac Singer became the
first American product name franchisor when he began to sell to traveling
independent salesmen the rights to sell his sewing machines to end users.

The Singer® Sewing Machine Company it was relatively quickly outpaced by

an even more important product name franchisor Coca-Cola. In the 20 th century,
the distinction might be reserved for the pioneers in the American automobile
industry, which began to franchise at that time : Both Ford and General Motors.

3. Types of franchising

There are many types of franchises, that can be categorized according to

different factors, like investment level, franchisor’s strategy, operations,
marketing and relationship models, etc. The five major types of franchises are:
job franchise, product franchise, business format franchise, investment franchise
and conversion franchise.
 3.1. Job Franchise

Typically, this is a home-based or low investment franchise that is taken

by a person who wants to start and run a small franchised business alone.
Franchisee usually has to purchase minimal equipment, limited stock and
sometimes a vehicle. A wide and diverse range of services fall into this group,
like travel agency, coffee van, domestic lawn care service, plumbing, drain
cleaning, commercial and domestic cleaning, cell phone accessories and repair,
real estate service, shipping service, pool mainatanance, corporate event
planning, children’s services, etc.

3.2. Product (or Distribution) Franchise

Product-driven franchises are based on suplier-dealer relationships, where

franchisee distributes the franchisor’s products. The franchisor licenses its
trademark but usually does not provide franchisees an entire system for running
their business. Product franchises deal mainly with large products, such as cars
and car repair parts, vending machines, computers, bicycles, appliances, etc.
Product distribution franchising represents the highest percentage of total retail
sales.

3.3. Business Format Franchise

The business format franchisee also gets to use the franchisor’s

trademark, but more importantly, it gets the entire system to operate the
business and market the product and/or service. The franchisor offers a detailed
plan and procedures on almost every aspect of the business, provides initial and
ongoing training and support. Business format franchising is the most popular
type of franchise system and the one generally referred to when talking
franchising.

3.4. Investment Franchise

Typically, these are large scale projects which require a large capital
investment, such as hotels and the larger restaurants. The franchisees usually
invest money and engage either their own management team or franchisor to
operate the business and produce a return on their investment and capital gain
on exit.
 3.5. Conversion franchise

Conversion franchising is a modification of standard franchise

relationships. Many franchise systems grow by converting independent
businesses in the same industry into franchise units. The franchisees adopt
trademarks, marketing and advertising programs, training system and critical
client service standards. They also usually increase procurement savings. The
franchisor in this model has a potential for very rapid growth in terms of units
and royalty fee income.

4. Advantages and disadvantages of franchising

Buying a franchise can be a quick way to set up your own business without
starting from scratch. There are many benefits of franchising but there are also a
number of drawbacks to consider.

4.1. Ten advantages of franchising

The risk of business failure is reduced by franchising. Your business is based on

a proven idea. You can check how successful other franchises are before
committing yourself.

 Products and services will have already established a market share.

Therefore there will be no need for market testing.
 You can use a recognised brand name and trade mark. You benefit from
any advertising or promotion by the owner of the franchise - the
'franchisor'.
 The franchisor gives you support - usually as a complete package
including training, help setting up the business, a manual telling you how
to run the business and ongoing advice.
 No prior experience is needed as the training received from the franchisor
should ensure the franchisee establishes the skills required to operate the
franchise.
 A franchise enables a small business to compete with big businesses,
more so than an independent small business, due to the pool of support
from the franchisor and network of other franchisees.
 You usually have exclusive rights in your territory. The franchisor won't
sell any other franchises in the same territory.
 Financing the business may be easier. Banks are sometimes more likely to
lend money to buy a franchise with a good reputation.
  You can benefit from communicating and sharing ideas with, and
receiving support from, other franchisees in the network.
 Relationships with suppliers have already been established.

4.2. Eight disadvantages of franchising

 Costs may be higher than you expect. As well as the initial costs of
buying the franchise, you pay continuing management service fees and
you may have to agree to buy products from the franchisor.
 The franchise agreement usually includes restrictions on how you can run
the business. You might not be able to make changes to suit your local
market.
 You may find that after some time, ongoing franchisor monitoring
becomes intrusive.
 The franchisor might go out of business.
 Other franchisees could give the brand a bad reputation, so the
recruitment process needs to be thorough.
 You may find it difficult to sell your franchise - you can only sell it to
someone approved by the franchisor.
 All profits (a percentage of sales) are usually shared with the franchisor.
 The inflexible nature of a franchise may restrict your ability to introduce
changes to the business to respond to the market or make the business
grow.

Conclusion

In one word, franchising means the licence granted to the franchisee by

the franchisor. Franchising originated from Germany, but well developed in the
USA. Finally ,the chapter talked about types, advantages, and disadvantages of
franchising.