UNIT 6: ENTREPRENEURS

-entrepreneur (noun)
= a person who makes money by starting or running
businesses, especially when this involves taking financial risks
 6.1. Fairphone (pages 58. 59)
Vocabulary
-paradox (noun) = a person, thing or situation that has two
opposite features and therefore seems strange: một (người, sự
việc,..) nghịch lý
Ex: It is a curious paradox that professional comedians often have
unhappy personal lives.

-refinery (noun) = a factory where a substance such as oil is refined (=

made pure): nhà máy lọc (dầu, đường,...); nhà máy luyện kim
Ex: an oil refinery
* a sugar refinery
 6.1. Fairphone (pages 58. 59)
Vocabulary
-crowdfunding (noun) = the practice of funding a project or
venture by raising many small amounts of money from a large
number of people, typically via the internet: việc huy động vốn từ
cộng đồng

-go out of business = stop doing business permanently, especially

because of failure
Ex: If we sold food at those prices we’d soon go out of business.

-backing (noun) = help, support

-pragmatic (adj): thực tế, thực dụng

 Exercise 8B (page 59)
Answer these questions in pairs.
1. Where do you think is the best place to go for advice about starting
a business?
2. Do you know the founders of Apple, Facebook and Microsoft?
3. Apart from crowdfunding, where else can entrepreneurs go for
financial backing?
4. Do you think entrepreneurial talent is unique to some people?
Why? / Why not?
 Exercise 8B (page 59)
Suggested answers:

1. Where do you think is the best place to go for advice about starting a
business?
-Consultant marketplaces
-Social media.
-Websites.
-Consulting firms and individuals
 Exercise 8B (page 59)
Suggested answers:

2. Do you know the founders of Apple, Facebook and Microsoft?

-Apple Computer Company was founded by Steve Jobs, Steve Wozniak,
and Ronald Wayne.
-Facebook was founded by Mark Zuckerberg, along with fellow Harvard
College students and roommates Eduardo Saverin, Andrew McCollum,
Dustin Moskovitz, and Chris Hughes.
-Microsoft was founded by Bill Gates and Paul Allen.
 Exercise 8B (page 59)
Suggested answers:
3. Apart from crowdfunding, where else can entrepreneurs go for financial
backing?
-Personal investment: When starting a business, your first investor should
be yourself—either with your own cash or with collateral (sự thế chấp) on
your assets.
-Love money: This is money loaned by a spouse, parents, family or friends.
-Venture capital: is provided by venture capital firms or funds to startups,
early-stage, and emerging companies that have high growth potential or
which have demonstrated high growth (in terms of number of employees,
annual revenue, scale of operations, etc).
 Exercise 8B (page 59)
Suggested answers:
-Angels: Angels are generally wealthy individuals or retired company
executives who invest directly in small firms owned by others.
-Business incubators: A business incubator is a company that helps
new and startup companies to develop by providing services such as
management training or office space.
-Government grants: Money is given by the governments.
-Bank loans: Bank loans are the most commonly used source of
funding for small and medium-sized businesses.
 6.2. Young entrepreneurs (pages 60, 61)
Vocabulary
-underestimate (verb) = to fail to guess or understand
the real cost, size, difficulty, etc. of something
Ex: Originally the contractor gave me a price of €2,000,
but now they say they underestimated and it's going to
be at least €3,000.

-look up to sb/ sth = admire sb / sth

 Exercise 4B (page 60)
KEY
Ferry Unardi and his business partners had always
discussed the idea of launching a travel search engine.
They felt the time was right, with interested investors
and a good consumer base. Ferry said he had
underestimated the speed of change (in the
Indonesian internet industry) when he arrived at
Harvard.
 Exercise 5 (page 60)
KEY
1) Traveloka is an online travel agency. It operates like a search
engine for the travel industry.

2) It takes 10–15 percent commission from the airlines and hotels

for each booking made.

3) It receives 10 million visitors a month, it has partnerships with

33 airlines and hotels.

4) It operates in Southeast Asia.

 Exercise 5 (page 60)
KEY

5) He thinks computer programming is now more popular and

seen as a cool profession.

6) He says he is 'interested' to see what type of people enter the

industry and how they take it forward. Given that he says the
industry is now fashionable and cool, the implication is that
good people will be attracted to the industry and he feels
positive about it.
 Speaking task 2 (Exercise 10, page 61)
Read the information and prepare the roleplay.

-Student A: You are a new entrepreneur. Prepare 3 sentences

to introduce yourself and your new company. You are going
to answer student B's interview questions.
-Student B: You are a business journalist. You are going to
interview student A about his / her new company. Prepare 5
questions to ask student A.

*Note: The conversation lasts about 5 minutes.

6.3. Communication skills: Influencing (page 62)
Vocabulary
-influence (verb) = to affect or change how someone or
something develops, behaves, or thinks
Ex: She's very good at making friends and influencing people.
6.3. Communication skills: Influencing (page 62)
Vocabulary
-implementation (noun) = the act of starting to use a plan or system

-back (verb) = support

-partner (verb) = to join with another person or organization in a

business activity
Ex: They partnered with a British venture capital firm and formed
Armada Skis.
 6.3. Communication skills: Influencing (page 62)
Vocabulary

-pitch (verb) = to try to persuade someone to do something

Ex: They are pitching for business at the moment.

-empathy (noun) = the ability to share someone else's feelings or

experiences by imagining what it would be like to be in that
person's situation

-(Sympathy involves understanding from your own perspective.

Empathy involves putting yourself in the other person's shoes and
understanding WHY they may have these particular feelings.)
 6.3. Communication skills: Influencing (page 62)
Vocabulary
-pushy (adj) = excessively or unpleasantly self-assertive or
ambitious: tự đề cao

-integrate (verb) = combine two or more things in order to become

more effective
Ex: You need to integrate exercise into your normal life.
 6.3. Communication skills: Influencing (page 62)
Vocabulary
-allocate (verb) = to give sth officially to sb/sth for a
particular purpose
Ex: A large sum has been allocated for buying new books for
the library.

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 6.3. Communication skills: Influencing (page 63)
Functional language: Dealing with objections
Vocabulary
-objection (noun) = an expression or feeling that shows that
you disapprove of something or disagree with it

-acknowledge (verb) = to accept, admit, or recognize

something, or the truth or existence of something
Ex: We must acknowledge the truth of her argument.
 6.3. Communication skills: Influencing (page 63)
Functional language: Dealing with objections
Vocabulary
-probe (verb) = to try to discover information that other people
do not want you to know, by asking questions carefully and not
directly
Ex: The interviewer probed deep into her private life.

-address (verb) = deal with

6.4. Business skills: Presenting facts and figures (pages 64, 65)
Vocabulary

-flipchart (noun)
6.4. Business skills: Presenting facts and figures (pages 64, 65)
Vocabulary
-stock (noun) = the total amount of goods or the amount of a
particular type of goods available in a shop

-customer age demographic: phân khúc nhân khẩu học dựa theo
tuổi của khách hàng

-high-end (adj) = intended for people who want very good quality
products and who do not mind how much they cost: thuộc phân
khúc cao cấp, đắt đỏ và sở hữu kiểu dáng thiết kế cực kỳ sang
chảnh và bắt mắt
Ex: a high-end department store
 6.5. Writing: Summarising (page 66)
Vocabulary
-estate agent (noun) = Realtor = real estate agent
= a person whose job is to sell houses and land for people

-premises (noun) /ˈprem.ɪ.sɪz/ [pl.] = the building and land

near to it that a business owns or uses
 6.5. Writing: Summarising (page 66)
Vocabulary
-remortgage (verb) /ˌriːˈmɔː.ɡɪdʒ/ = to change the conditions
of a mortgage (= agreement by which you borrow money to
buy property), usually by increasing the amount you borrow:
thế chấp lại, cầm cố lại
Ex: Many borrowers remortgage every three or five years to
take advantage of cheap fixed rates.

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