UNIT 1: THE BUSINESS OF BUSINESS

Skills Focus

• Reading
• Writing
 1.1 VOCABULARY The business of business

A. Match words from Group A with words from Group B to make meaningful word partnerships.

sustainable social ethical value innovation

Group A
competitive economic risk market customer

responsibility management development share progress

Group B
advantage proposition satisfaction growth practices

1. sustainable development 6. competitive advantage

2. social responsibility 7. economic growth
3. ethical practices 8. risk management
4. value proposition 9. market share
5. innovation progress 10. customer satisfaction
B. Match the word partnerships in Exercise A with their definitions. 1. social responsibility
1. The concept is that businesses have a responsibility to positively impact
society and the environment beyond maximizing profits. 2. market share
2. The portion or percentage of a market that a business or product controls or
holds.
3. The process of conducting business in a way that considers long-term
3. sustainable development
environmental, social, and economic impacts.
4. Unique qualities, resources, or strategies that give a business an advantage 4. competitive advantage
over its competitors in the marketplace.
5. Conducting business in an honest, fair, and morally responsible manner, 5. ethical practices
following ethical principles and values.
6. The level of satisfaction or happiness experienced by customers in relation to 6. customer satisfaction
the products, services, or experiences provided by a business.
7. The unique combination of benefits and value that a business offers to its 7. value proposition
customers, differentiating it from competitors.
8. The process of identifying, assessing, and reducing risks that could impact the 8. risk management
success or reputation of a business.
9. The progress of the introduction of new ideas, products, processes, or business 9. innovation progress
models that create value and drive growth.
10. The increase in the production and consumption of goods and services led to
10. economic growth
overall expansion and development in the economy.
C. Complete these sentences using the word partnerships in Exercise A.
risk management
1. Effective …………………………………. practices help us predict and reduce potential threats to the business, ensuring its
stability and resilience.
customer satisfaction
2. We need to analyze our competitors’ strategies to maintain our ………………………………….
social responsibility of a business includes providing employment, eliminating discrimination, avoiding
3. The ………………………………….
pollution, etc.
competitive advantage lies in our advanced technology, which allows us to offer superior products that are
4. Our ………………………………….
unmatched in the market.
sustainable developmentto minimize environmental impact and ensure a positive
5. Companies need to focus on ………………………………….
legacy for future generations.
market share
6. Our competitor is lowering prices right now in an attempt to regain ………………………………….
Value proposition is a statement that describes the value that a company or product offers to the customer
7. ………………………………….
including unique selling points, benefits, and costs.
economic growth
8. Increases in capital goods, labor force, technology, and human capital can all contribute to ………………………………….
D. Discussion
Work in groups of three or four.
Discuss the business of business, and explore its purposes, responsibilities, and impact.
Follow these guiding questions:
 What do you believe is the main purpose of a business? Is it just about making
profits, or should it pursue other objectives?
 How do businesses impact society, the economy, the environment, and local
communities?
 What are some ethical business practices that businesses should take into
consideration?
 How can businesses balance profitability and sustainability?
Invite one representative from each group to present the key points from the discussion.
1. The main purpose of a business is to create value for its stakeholders. While making profits is important, a
business should also provide quality products or services, contribute to societal well-being, and foster sustainable
practices.

2. Businesses have a significant impact on society, the economy, the environment, and local communities. They
create job opportunities, stimulate economic growth, and contribute to tax revenues. They also have environmental
responsibilities, including minimizing their carbon footprint, adopting renewable energy sources, and minimizing
water usage.

3. Ethical business practices include treating employees fairly, ensuring product safety and quality, maintaining
transparency in operations and financial reporting, respecting human rights, and engaging in responsible marketing
and advertising.

4. Businesses can balance profitability and sustainability by adopting sustainable business models and practices. This
 1.2 READING Skimming  Scanning  Guessing from context

PRE-READING
A. Match words or phrases in Column A with their definitions in Column B.
Column A Column B
1. sole proprietorship (n) E a) legal responsibility for something
2. enterprise (n) b) an organization or a business that has its own separate legal and financial
D existence

3. liability (n) A c) to do something or make something happen

4. conduct (v) d) an organization that provides goods/services with the goal of earning a
C profit

5. entity (n) B e) a business that is owned and operated by only one person
B. Lead-in questions
1. Have you ever thought of conducting a business? If yes, what would it be?
2. Name some large businesses that you know.

C. In your knowledge, put these

company types in the most likely order
of size, from the smallest (1) to the
largest (4).

private company/corporation 3
public company/corporation 4
partnership 2
sole trader/sole proprietorship 1
WHILE-READING

What is a business? Types and sizes of businesses

A. Decide which heading is the most appropriate for each paragraph.

List of headings
i. Types of businesses
1. Paragraph A … vii
2. Paragraph B …
ii. Examples of different types of businesses iv
iii. Contribution of business to the economy 3. Paragraph C …
iv. Understanding a business
4. Paragraph D …
i
v. Writing a business plan
5. Paragraph E … vi
vi. Business sizes
vii. What is a business? iii
B. Read the text again and answer these questions.
1. What is the purpose of a business?
The purpose of a business is to organize some sort of economic production of goods or
services.
2. What are the main components of a business plan?

The business plan outlines the company’s goals and objectives and lists the strategies and
plans to achieve these goals and objectives.
3. How does a business define its business?
A company often defines its business by the industry in which it operates, which is a group
of similar businesses that produce or provide related goods or services.
4. What is the difference between for-profit and non-profit businesses?
For-profit businesses operate to generate profit. Non-profit businesses have a goal to
advance a certain cause without profit.
5. How are the profits and losses of a partnership recorded?
The profits and losses of a partnership are recorded on each partner’s tax return.
6. What is the term for the owners of a corporation?
Shareholders
7. How is a small business defined in terms of employee number?
Small businesses are commonly managed by one person or a small group of people with
less than 100 employees.
8. How do businesses contribute to the economy?

Businesses have significant contributions and vital role in driving economic growth and
development. Also, businesses provide products and services that can be purchased by
individuals and other companies.
POST-READING
Brainstorming: Imagine you and your group members (3-4
students) want to start a business. Brainstorm the following
ideas:
- what types of business it is;
- the industry in which it operates;
- where it is located;
- whether it is a for-profit or non-profit business;
- business sizes (be specific about employees and expected annual
revenue);
- the reasons why you want to conduct this business.
After that, each group representative will present their ideas in front
of the class.
 1.3 WRITING A job offer email

LEAD-IN
A. Read the letter and answer
these questions.
1. Rearrange the paragraphs to
make a meaningful letter.
B A EC D
2. What is the purpose of this
letter?
The purpose is to offer a job
for a candidate.
B. Read the reply to the job
offer.
- decide whether the candidate
accepts or refuses the job offer.

The candidate accepts the

job offer.
- discuss how many parts there
are in the body of the letter.

There are five parts in the

body of the letter.
FUNCTIONAL LANGUAGE
Use the following phrases to complete the sentences below.
find attached sincerely appreciate full details of the benefits look forward to seeing
time and consideration via phone or email regret to inform excited to offer you

1. I …………………………………. the opportunity to be considered for this role and contribute to your team.
2. Thank you for your …………………………………., and I wish you all the best.
3. However, I …………………………………. that I must decline this job offer.
4. We are …………………………………. a full-time position as a Graphic Designer.
5. We …………………………………. how you will take our brand messaging to the next level.
6. Please …………………………………. an updated copy of the job description.
7. If you have any questions, please contact me directly ………………………………….
8. I have attached the …………………………………. we offer for you to review.
TASKS
A. Selig and Lind Solutions is a multinational electronics company. The company is looking for a new Project
Manager to form a team to conduct a survey of Selig and Lind’s customer service to retail outlets in six major
Asian countries. Write a job offer email to a successful candidate, considering the following information:
 Candidate: Emma McGonagall
 Job position: Project Manager
 Company name: Selig and Lind
 Start date: 25 August.
 Accept the offer by 15 August.
 Sender Name: Emily Harris
 Sender Job title: Head of HR
 Mail/phone: emharris@seliglind.com/041 246 9273
A. (suggested answer)
Dear Ms. McGonagall,
Congratulations on your offer from Selig and Lind! We are delighted to offer you the Project Manager with a
start date of 25 August.
As discussed during the interview, please find attached your detailed offer letter. If you choose to accept this
offer, please sign, scan, and email your letter to me at emharris@seliglind.com by the end of this week – 15
August.
Please find attached the company policies and benefits for your preference.
In the meantime, please feel free to contact me through email or by calling me directly at 041 246 9273 if you
have any questions or concerns.
We look forward to hearing from you and hope you’ll join our team!
Best regards,
Emily Harris
Head of HR
B. You are Emma McGonagall. Write an email reply to the job offer above including the following
information:
 Open an email properly.
 Formally decline the job offer.
 Consider providing a reason.
 Thank the employer.
B. (suggested answer)
Dear Ms. Harris,
Thank you for offering me the position of Project Manager at Selig and Lind. After careful consideration, I
regret to inform you that I must decline the offer.
I sincerely appreciate the time and effort invested in the interview process, and I have a great deal of respect for
your company. However, upon reflection, I have decided that this opportunity does not align with my long-term
career goals.
I apologize for any inconvenience caused by my decision, and I genuinely wish you and the team at Selig and
Lind continued success.
Thank you for your understanding.
Best regards,
Emma McGonagall
 1.4 SKILLS BANK

Sending a job offer email is one of the quickest ways to communicate important details – including some key information
such as salary, benefits, work schedule, and a few important next steps.
When sending an email to offer details, remember to use an email subject line that’s informative and catchy. You can
follow these suggestions:
 Offer from [Company name]  Your offer from [Company name]
 [Company name] Job Offer  Job offer from [Company name]
Some relevant documents that you can attach with the email:
 Job details (the job title, the start date, salary, etc.)  Deadline for accepting/declining the offer
 Compensation  Your contact details
 Benefits
A job offer email doesn’t need to be drafted by the legal department. However, many employers choose to use a job offer
email template to ensure consistency across the organization.
SUGGESTED
TEMPLATE
FOR A JOB
OFFER
EMAIL
SAMPLE EMAIL
 1.5 WORD BANK

 advance (v) /ədˈ

væns/ to develop or improve
 backbone (n) /ˈ
bækbəʊn/ the most important part of a system, an organization,
etc. that gives it support and strength
 charitable (adj) /ˈ
tʃærətəbl/ connected with a charity or charities
 conduct (v) /kənˈ
dʌkt/ to organize and perform a particular activity
 corporation (n) /ˌ
kɔːrpəˈ
reɪʃn/ a large business company
 engage (v) /ɪnˈ
ɡeɪdʒ/ to become involved with something
 enterprise (n) /ˈ
en.t̬ ɚ.praɪz/ an organization, a company, or a business
 entity (n) /ˈ
entəti/ an organization or a business that has its own separate legal
and financial existence
 liability (n) /ˌ
laɪ.əˈ
bɪl.ə.t̬ i/ legal responsibility for something
 operation (n) /ˌ
ɑːpəˈ
reɪʃn/ the activity or work done in a company, or in an area of
business or industry
 proprietorship (n) /prəˈ
praɪətərʃɪp/ a particular legal form for a small company
 scope (n) /skəʊp/ the range of things that a subject, an organization, an activity,
etc. deals with
 sole (adj) /səʊl/ only; single
 stock (n) /stɑːk/ part of the ownership of a company that people have as an
investment in the form of shares