Thai Nguyen University

Centre of Distance Education

ENGLISH FOR BUSINESS

Ms. Pham Phuong Hoa, MA

 KEY GLOSSARY
1. e
a. Someone who starts a company, arrange business deals and
1. Joint – stock company take risks 2. c
b. A company that does most of its business on the Internet
2. Shareholder c. A person who owns shares in a company and gets part of the
company's profits and the right to vote on how 3. h
3. Multinational
the company is controlled
4. Subsidiary d. something that is bought by a company, such as 4. f
5. Asset another company, a building, or a piece of land
6. Merger
e. a company that is owned and controlled by shareholders, 5. i
with shares that are traded on a stock market
7. Acquisition f. A company of which at least half the share capital is owned by
6. g
a larger company, but which may trade under its own name
8. Dotcom g. Two or more companies join together to create a single larger
9. Entrepreneur company 7. d
h. A company that operates in different countries, usually with a
complex structure 8. b
i. Something belonging to an individual or business that has
value or the power to earn money 9. a
 Company structure
Read the text and answer the following questions.
1. What were the characteristics of US corporations in the past?
2. What changes have occurred to those corporations?
3. What is meant by 'shifting from high-volume to high-value'?
4. What different types of future companies does the author mention?
5. Why does he believe there is not one definite type of future company?
6. What does he believe to be the key to survival for companies in future?
Read the text and answer the following questions.
1. What were the characteristics of US corporations in the past?
2. What changes have occurred to those corporations?
3. What is meant by 'shifting from high-volume to high-value'?

1. They were hierarchical or bureaucratic organizations making long runs of

standardized products. They improved products instead of innovating, provided
lifelong employment, and enjoyed good industrial relations.
2. Giant corporations disappeared / were transformed. They changed from high
volume to high value, from standardized to customized. There are flatter
hierarchies and less lifelong employment.
3. High volume = mass produced. High value = small quantity with a larger profit
margin.
Read the text and answer the following questions.
4. What different types of future companies does the author mention?
5. Why does he believe there is not one definite type of future company?
6. What does he believe to be the key to survival for companies in future?

4. Giant companies, small companies with few tangible assets, networks of

entrepreneurs.
5. Because consumers, producers and shareholder have more choice.
6. Flexibility
1. Freelance workers/ freelancers 4. Consumers
2. Entrepreneurs 5. Producers
3. Venture capitalists 6. Shareholders
1. b
2. d
3. a
4. f
5. h
6. g
7. e
8. c
 1. Freelance workers/ freelancers
2. Entrepreneurs
Standardized products Flattened hierarchy 3. Venture capitalists
Lifetime employment Customised 4. Consumers
5. Producers
6. Shareholders

Consumers Shareholders
Producers Tangible assets
Mergers Lease

Venture capitalists
Simple: a, b, c
Continuous: d, e, f
2. Continuous (d)
3. Simple (b)
4. Simple (c)
5. Continuous (e)
6. Continuous (f)
 is shifting don’t manufacture

does it mean are wholesaling

have
takes place
is eliminating Is…. changing

is becoming
 Less traditional hierarchical (flat hierarchy)

Traditional hierarchical (likely

bureaucratic – steep hierarchy)
1. IT
2. HR
3. Finance
4. Legal Affairs
5. Electronic Supplies Ltd.
6. Global Transport Solutions Ltd.
7. Always Answers Call Centre,
Solutions Vehicle Hire
8. Paul Phillips
9. Solutions Vehicle Hire
LETTER LAYOUT
EMAIL LAYOUT
You are a hotel manager. Your hotel recently hosted its first major conference.
Write an email to the staff:
• telling them about the positive feedback from the conference organisers
• congratulating them on their professionalism
• thanking them for their hard work.
'What does she do?'
A. She’s a professor of business administration.
B. She’s professor of business administration.
C. She’s a professor of the business administration.