UNIT 1

product lifecycle

retail value

licensing arrangements (agreements)

outsourcing

productendorsement

wholesale value

brand manager

manufacturinglocation

brandloyalty

manufacturer

low-costmarket

manufacturingcompany

productplacement

fashionlabel

brandedproduct

valueformoney

brandawareness

grossmargin

marketshare

flagship

license

brandstretching

productrange

loss

advertising campaign

luxury product

customer base

UNIT 2

jet-lag

overseasbusinesstrip

longqueuesatcheck-in

lostanddelayedluggage

complaint

interminable delays in takeoff

steep climb

rage incident

safety

reliability

meansoftransport

customerdissatisfaction / frustration

massunrest

cost-cuttingpractices

stiffer penalty

familydiscount

individualmisbehavior

marketing department

city centre / downtown

car park / parking lot

legislation

concern

tocontribute

concession

disruptive

poorservice

overseasbranch

to cut costs

to be flooded

schedule

UNIT 3

subsidiary

companycar

warehouse / depot

distributioncentre

conservative

bureaucratic

retail outlet

creditcard

researchfindings

labourforce

businesscard

seniority

needforconfidentiality

budgetreport

perks

statussymbol

decentralizationofresponsibilityandauthority

accountability

professional

dynamic

market-driven

businessplayground

competitiveformula

negotiating

supplychain

upgradingstores

managementconsultant

headquarters

performance benchmark

companyheadquarters

timemanagement

budgeting

hiring

call centre

sales campaign

management style

hierarchy

staff turnover

UNIT 4

in-house staff

department store

hostile workforce

discount store

market share

complacent policy

business lead

speciality retailer

intermediary

vendor

delivery system

convenience store

company image

customer service

company’s upbeat image

sizeable niche

acquisition

hot-desking

counter-attack

to merge

to demotivate

to make redundant

to reinvent

to recast

to relocate

to downsize workforce

to retrain

to keep up with competition

to reorganize

to reinforce

vital

UNIT 5

tax refund

start-up business

venture capitalist

bank statement

credit card bill

abroad profit

recession

whole bill

equal parts

banking shares

pre-tax profit

on-line retail market

market forecast

consumer spending

extra cash

level of debt

housing market

consumer market

marked turnaround

recovery in consumer spending

price pressure

fluctuation

stock market

target consumer / audience

to strengthen

to forecast

to benefit

to triple

to plummet

to fluctuate

to halve

to double

to quadruple

UNIT 6

streamlined decision-making process

globalandlocaladcampaigns

key message

market research

subliminaladvertising

outdoor advertising

slogan

leaflet

mailshot

poster

chief executive

business objective

point-of-sale advertisement

marketing strategy

company’s management

clear and committed strategy

attention-grabbing advertisement

advertising code

high-risk advertising strategies

market research pre-testing

advertising campaign

product design

expansion

commercial

clutter

storyboard

USP (UniqueSellingPoint)

Informative

eye-catching

memorable

upmarket

to take a gamble on

to wake up the consumer

UNIT 7

chief buyer

marketing director

business etiquette

host country

personnel manager

business meeting

draft

negotiation

taboo

punctuality

company reorganization

togetintohotwater

to be thrown in at the deep end

notseeeyetoeye

toput yourfootinit

to get on like a house on fire

tobreaktheice

tobearealeye-opener

to be like a fish out of water

UNIT 8

covering letter

marital status

sickness record

probationary period / trial period

family background

authoritative source

application form

HR specialist

high-performer

rival companies

permanent post

curriculum vitae/resume / a summary of a jobapplicant's professional experience and educational background, along with other relevant informationregarding the candidate'squalifications.
applicant / a person who applies for something
psychometric test / any standardized procedure for measuring sensitivity or memory, or intelligence, or aptitude, or personality, etc.
meticulous / very careful and with great attention to every detail
motivating factors / drivers of human behavior related to the intrinsic nature of the work, but not necessarily to the surrounding circumstances or environment.
empowerment / a managementpractice of sharing information, rewards, and power with employees so that they can takeinitiative and makedecisions to solve problems and improveservice and performance.
head hunter / executiverecruitmentagency that tracks qualifiedpersonnel during their work life, and can quickly and precisely locate a suitable candidate for a specific job requirement
action points / what needs to be done after the meeting, and by whom
business sector / section of economy related to business and corporate organizations. The business sector does not include individualhouseholds, government or not-for-profit organizations.
minutes / an official record of what was said and/or decided

winning strategies

high-quality worker

fast-tracking

administrative support

inefficiency

pep talk

flair for smth

motivated

adaptable

determined

resourceful

apparent

numerate

to train new staff

to shortlist the candidates

to sustain motivation

to assemble an interview panel

to make a job offer

to check the references

to be headhunted

to assess mental ability and reasoning skills

to motivate high-caliber staff

to ensure competitive advantage

to master new skills

to retain high-performers

to second

to liaise with smb/smth

to distinguish

to dilute

UNIT 9

laisser-faire

marketsurvey

deliverydate

insurance cover

shipment

injustice

royalty

outfit

commodity

trade barriers (barriers to trade)

tariff

importedgoods

domesticgoods

quota

restrictions on trade

import licence

strategic industries

infantindustries

commodity market

subsidy

tocomplywith

totacklesmth

to place an order

tobenegotiable

to quote a good price

tophaseout

toliberalisetrade

toaddgreatlytocosts

to be beneficial to

to be subsidized

tobreakinto

deregulation / revision, reduction, or elimination of laws and regulations that hinder freecompetition in supply of goods and services, thus allowing market forces to drive the economy
free trade / the interchange of goods and services (but not of capital or labor) unhindered by high tariffs, nontariff barriers (such as quotas), and onerous or unilateralrequirements or processes
free market / A market where buyers and sellers can make the deals they wish to make without any interference, except by the forces of demand and supply
dumping / exportinggoods at prices far below their real value, usually in another country
trade barrier / a government-imposed restriction on the freeinternationalexchange of goods or services
niche / all the people who buy a particular product or use a particular service
consignment / a specific shipment of goods sent by a consignor to a named consignee
market price / unique price at which buyers and sellers agree to trade in an open market at a particular time
producer / people or companies that make or grow goods, food, materials
outcome / something that follows as a result or consequence

UNIT 10

long-lasting

hand-made

mass-produced

topquality

policyofzerodefects

badpublicity

consumer confidence

routine check

after-salesservice

defective product

domestic appliances

excessive (higher) demand for

inspection

production flaws

outside supplier

high manufacturing standards

self-sufficient company

low-cost supplier

manufacturing costs

outside contractor

cost-consciousconsumer

industrypeers

comparableproduct

increased reliability

working practices

operational standards

operational efficiency

soap powder

eject mechanism

boarding

disembarking

to recall the product

to withdraw from sale

to be up to standard

toberenowned (for)

tomaintainqualitystandards

toturnaround

to alter

guarantee / written undertaking that something is of a specified benefit, content, or quality, or that it will providesatisfaction or will perform a duty or obligation in a specified manner
white goods / heavy consumer durables such as air conditioners, refrigerators, stoves, etc., which used to be painted only in white enamel finish
bidder / contractor, supplier, or vendor who responds to an invitation to bid (ITB) (also called offeror or quoter)
production process / mechanical or chemical steps used to create an object, usually repeated to create multiple units of the same item. Generally involves the use of raw materials, machinery and manpower to create a product
compensation / something, such as money, given or received as payment or reparation, as for a service or loss
faulty product / consumable, commercially produced and distributed good that is (1) unfit for its intended use, (2) dangerous or harmful for normal use, (3) does not carry adequateinstructions for its use, or (4) is inherently dangerousdue to defective design, assembly, or manufacture
price premium
(premium price) / the marketingpractice of selling an elite product at a cost level above that of its competition in order to make it appeal to more exclusive and wealthy consumers
customer requirements / particular characteristics and specifications of a good or service as determined by a customer
quality improvement / the systematic approach to reduction or elimination of waste, rework, and losses in production process
to move down-market / to sell products more cheaply

UNIT 11

law-abiding

trustworthy

a code of good practice
a mission statement
civil servant
paperwork
a slush fund
a sweetener (baksheesh, backhander, kickback, greasing of palms, illicit payment)
insider trading
disclosure
integrity
pressure group
a cover up
awhitewash

confidentiality agreement

secrecy

whistleblower

under-age workers

record companies

illegal downloading

controversial and questionable projects

social and environmental reporting

peer pressure

greater disclosure

secretive sector

competitive edge / advantage

money laundering

misselling

subsistence wages

to sue for

to lend to

to take voluntary measures

to increase transparency

to withdraw a lawsuit

to address the issue

to take a lead

to remain secretive

insider trading / buying or selling the securities of a publicly traded firm by an insider to benefit from insider information
industrial espionage / spying on one's competitors to gain a competitive advantage (often illegal)
whistle blower / a person who discloses improper or criminal activity within an organization
bribe / something given or taken with an intention to influence the conduct or judgment of the person receiving it
litigation / ultimate legal method for settling controversies or disputes between and among persons, organizations, and the State
non-profit organisation / an incorporated organization which exists for educational or charitable reasons, and from which its shareholders or trustees do not benefit financially
parent company / firm that owns or controls other firms (called subsidiaries) which are legal entities in their own right
audit / systematic examination and verification of a firm's books of account, transaction records, other relevant documents, and physical inspection of inventory by qualified accountants
labour standard / computed, estimated, or measured values (such as assembly time, operations per hour, output per unit of time, etc.) used in forecasting or evaluating labor performance
feedback / process in which the effect or output of an action is 'returned' to modify the next action

words from the extracts about financial scandals

allegedly
class-action suit
SEC (Security and Exchange Commission)
fudging
line costs
accounting entry
conspiracy
toxic assets
bid-rigging
underling
restitution
breach of trust
to file for
to fuel suspicions
to inflate
to underreport
to tip off
to allege
to siphon money
to disguise
to smuggle out
to trigger suspicions
to acquit
to misstate
to file charges
blue-chip
fraudulent
back-office

UNIT 12

opportunistic

humble, modest

glib tongue

on-the-job training

track record (in)

stock exchange

management style

trait

coveted brand

competition

capital issue

short-termist decision

value of cost-consciousness

informality

lack of hierarchy

to fulfill an aim

to create momentum

to be credited with

to revise a strategy

to save from bankruptcy

to reckon

to step down

to withdraw from business

to sell out

to seize an opportunity

to appeal to

to conflict with long-term planning

to underwrite the issue (the deal)

to turn smth into smth

to diversify into

  1. momentum
/ perceived strength of a downward or upward movement in prices that will sustain the trend for a while
  1. market condition
/ characteristic of a market into which a firm is entering or into which a new product will be introduced, such as number of the competitors, level or intensity of competitiveness, and the market's growth rate
  1. marketing mix
/ a planned mix of the controllable elements of a product's marketing plan commonly termed as 4Ps: product, price, place, and promotion
  1. loss maker
/ a business or industry that does not make a profit
  1. open-door policy
/ management practice whereby all employees have direct access to the senior executives without going through several gatekeepers or layers of bureaucracy
  1. go public
/ the act of a company going from private to public status, thus allowing its shares to be purchased and traded on a recognized exchange
  1. stationery
/ office supplies (specially paper and envelopes) used for writing, typing, or printing
  1. overall strategy
/ the full scope and direction of a company and the way in which its various business operations work together to achieve particular goals
  1. obsessive attention
/ an extremely strong focus on every small fact or piece of information
  1. togetherness
/ the feeling you have when you are part of a group of people who have a close relationship with each other

UNIT 13

breakthrough

setback

brainwave

heart-pacemaker

post-it note

disposable contact lenses

hit rate

core business

test marketing

returns on innovation investment

consumer needs

anonymity

the rank and file

product launch time

mock

back-up plan

rigor

business unit

national advertising

marketing campaign

runner-up

judging panel

fat bonuses

to urge

to cut reliance on

to conduct (to carry out) research

to articulate

to collect feedback from external sources

to cut down on

to rehearse

to revamp pay schemes

to enhance

ground-breaking

insightful

UNIT 14

level playing field

in the driving seat

to be neck and neck

flogging a dead horse

to move the goalposts

ahead of the game

a one horse race

to keep your eye on the ball

flashy

top-of-the-range

intangible

valuable

market leadership

transfer

high end of the market

obstacles

to stand in the way of

to counter

market segment

to exploit

to establish presence

to trail

wired market

wireless market

blending

unmatched technologies

demographic advantage

a plentiful supply

potential consumers

to lower a price

to alter delivery terms

Questions for discussion

2nd Year

Unit 1Brands

  1. What is your favourite brand? Why do you prefer it? What image and qualities does it have?
  2. Do brands matter? Why/Why not?
  3. Why do some companies make luxury products abroad rather than at home? Is it reasonable? Why/Why not? How does it affect brand image?

Unit 2Travel

  1. What usually irritates people travelling by plane? What’s your favourite means of transport? Why?
  2. What are the business traveler’s priorities nowadays? Are they important for you? Why/Why not?
  3. What is “road rage in the sky”? What problems cause it? Can they be solved? Why/Why not?

Unit3Organizations

  1. Give as many examples of things that can show a person’s status in an organization. Which of them are especially important?
  2. What qualities describe a good organization? What qualities describe a bad organization? Give your reasons.
  3. What do you know about SOL? Do you agree with its policies? Why/Why not?

Unit 4Change

  1. How are department stores in the USA changing? Are the changes positive? Why/Why not?
  2. Tell about the recent changes that have happened in your life or you friend’s life. What is your attitude to them?
  3. What areas are important to focus on when planning change? Why do you think so?

Unit 5Money

  1. What is your attitude to money? Do you agree that it is the most important thing in the world?
  2. What ways of raising business capital do you know? Which one would you prefer if you needed money for your business?
  3. What do you know about Wal-Mart and Target Stores? Are they successful companies? Why/Why not?

Questions for discussion

2nd Year

Unit 6 Advertising

  1. What makes a good advertisement?
  2. Describe any 3 up-to-date advertising media.
  3. What makes Nike’s advertising tick?

Unit 7 Cultures

  1. Why is cultural awareness important for businesspeople?
  2. What factors are the most important in creating a culture?
  3. What should a training course for people who are going to do business internationally include?

Unit 8 Employment

  1. What factors are important for getting your first job?
  2. Do you think that it is best to work for as few companies as possible? Why/Why not?
  3. How can high-performing people be motivated?

Unit 9 Trade

  1. What is globalization? How does it affect you?
  2. What is free trade? What are the five barriers that stop people trading freely?
  3. What is fair trade? How do people benefit from it?

Unit 10 Quality

  1. Do you think that you get what you pay for? Why/Why not?
  2. How do companies deal with quality control? Give examples.
  3. How does Miele maintain the quality of its products?

Unit 11 Ethics

  1. Think of any two professions. Are they ethical? Why/Why not?
  2. Think of an industry. What ethical issues does it face?
  3. Speak about two or three issues the text “No hiding place for the irresponsible business” raises.

Unit 12 Leadership

  1. What is the difference between a manager and a leader?
  2. Describe a few leadership qualities. What qualities are important for a leader of a large company?
  3. What is the winning formula behind Ikea’s success?

Unit 13 Innovation

  1. What are the three most important innovations you use in your daily life? Why?
  2. Name two most unpopular innovations of the 20th century. Give arguments.
  3. How is Procter and Gamble better than its competitors in terms of innovation?

Unit 14

  1. How competitive are you? Why do you think so? Give an example from your life
  2. What problems has Nokia encountered? Has it coped with them successfully? Why/Why not?
  3. What do you know about Barclaycard? How does it manage to stay competitive?