- •А кадемия управления при Президенте Республики Беларусь
- •Система открытого образования
- •Business english Курс лекций
- •Is she talking? 8
- •1. Starting to trade 151
- •2. The marketing mix 166
- •The Future: will
- •I/you/he/she/it/we/they will go (I’ll. He’ll, they’ll go)
- •Past Simple Tense
- •Positive (regular verbs)
- •Present Perfect Tense
- •Question Have you done it yet? Where have you been?
- •Review of time expressions
- •Word study Putting Nouns Together
- •Summary
- •The president
- •For discussion
- •The future perfect
- •More about auxiliary verbs
- •Word study
- •Two More Ways to Put Nouns Together
- •Company structure
- •Application for a job
- •74 Dockside Manchester m15 7bj 8 March 2000
- •Utility chiefs top executive pay increases
- •Unit II
- •Types of companies
- •Text № 1
- •Types of companies
- •Investing in a limited company
- •Summary of modal verbs
- •Modals with more than one meaning
- •You mustn’t vs. You don’t have to
- •Other uses of “will” and “would”
- •Degrees of probability
- •Exercise 15. Which is the closest in meaning?
- •The passive with modals
- •The indirect passive
- •Share capital
- •Companies
- •Must have and might have
- •Present Past
- •Could have and should have
- •Present
- •Types of business units
- •Unit III starting a business
- •Participles
- •A real estate purchase
- •Another use for participles
- •Participles
- •The problem of cash flow
- •Exchange rates cause budgeting problems
- •The flow of funds
- •Read and give the summary of the newspaper articles.
- •1. Greenalls refocuses spending By Dominic Walsh
- •2. Mandelson wants uk "digital leader" By Raymond Snoddy, Media Editor
- •3. Paget departs from telspec By Chris Ayres
- •4. Tlg succumbs to 353 million pounds wassall bid By Paul Durman
- •5. Progress hope at pilkington By Paul Durman
- •Unit IV management
- •What is management?
- •1.1. Read and translate the text.
- •1.2. Put 5 questions to part 1 of the text the answers to which are marked by •
- •1.3.. Answer the following questions:
- •1.4. Try to remember 5 main duties of managers.
- •2.1.. Read the notes of the lecture about management. Write out new words. Translate the text.
- •2.2.. Discuss:
- •3.1. Read text ¹ 3. Complete the sentences, finding them in the text:
- •3.2. Discuss:
- •4.1. Read text ¹ 4 about managers’ skills. There are 9 of them mentioned. Make the list of them and discuss the following:
- •Gerunds
- •The infinitive Positive Infinitive Negative Infinitive
- •Conditionals First conditional
- •Second conditional
- •Third conditional
- •The conditional
- •Texts for reading Holding Meetings
- •1. Put a tick or a cross in the box after each statement to show whether you think it is correct or not:
- •London borough Spring Personnel. Legal pa £25,000
- •Relative clauses
- •Miss Johnson is a secretary I work with.*
- •More examples of relative clauses
- •Of which vs. Whose
- •Past participles used as adjectives
- •Relative clauses with prepositions
- •Relative clauses with deletions
- •Conjunctions and related phrases
- •Agreement of tenses
- •Reported speech: agreement of tenses
- •Direct Reported
- •Reported questions
- •Interrogative noun clauses Who’s That Man?
- •Didn’t he apologize for _______?
- •Do you know _______?
- •Text ¹ 2 Market Study
- •Questions about the story
- •For discussion
- •Texts for reading and discussion
- •1. Starting to trade
- •Marketing Defining marketing
- •2. The centrality of marketing
- •1D Comprehension
- •Product policy
- •1A Discussion
- •1A Reading
- •3. Products and brands
- •4. It pays to advertise
- •It pays to advertise
- •2. The marketing mix
- •The role of advertising
- •Does the fact that it pays to advertise seem obvious to you? Explain your answer.
- •Figure 1.1.: gross margin
- •Paragraph 3: aura
- •3. Users of both competitive brands and of our product.
- •Born in 1946, we offer 52 years of experience
- •Unit VI business communication
- •Higher management
- •Rules of Writing
- •Increase your vocabulary
- •Means of communication
- •4 Abilities
- •5 Experience
- •Increase your vocabulary
- •Writing
- •Text 6 designing a sales letter
- •Manufactures of Quality Office Equipment since 1940
- •The layout of a business letter
- •23 Nelson Square
- •Velkotex Ltd
- •Prefixes of negation
- •Indicative Subjunctive
- •Verbs used with the subjunctive
- •Indicative vs subjunctive
- •Indicative Subjunctive
- •Infinitives with “seem” and “appear”
- •By Russsell Hotten
- •Sources
- •Козлова Любовь Константиновна Business English
- •220007, Г. Минск, ул. Московская, 17.
Exchange rates cause budgeting problems
Peter Crawford had learned from long experience that control of a growing company was impossible without accurate, up-to-date financial planning. Peter left most of the planning to Stan Waterman, AP's controller. Stan reviewed the company's sales forecasts and projected expenditures product by product, and by geographic region. He then assembled all the information into an overall consolidated budget for the corporation as a whole.
Normally Peter would not be involved in the details of the process. But today Stan had a problem, and he wanted Peter's advice. The problem concerned the exchange rate of the British pound and how to allow for it in the financial plan.
Although export sales represented 16% of AP's total volume, 60% of all exports went to England. In recent years economic difficulties and inflation in England had resulted in a steady decline in the value of the pound. Each decrease in the value of the pound amounted to a corresponding increase in the price of goods imported into England.
As the price of incoming products rose, domestic goods in England became more competitive. In the past the steadily falling value of the pound usually resulted in serious reductions in AP's exports to that country.
Recently, however, the British government had announced it was about to take measures to control inflation, which led many to believe that the situation might stabilize. The problem now facing Waterman was how to take this into account in preparing the budget.
The prevailing exchange rate was $1.30 to the pound. "In the past the weakening pound has caused sales in England to decline steadily. But I'm not sure what's going to happen this year," Waterman said. "The pound might even start rising before year-end. On the other hand, further declines can't be ruled out either. I'm not sure which assumption to base the plan on".
Peter thought the problem over. He decided the best thing to do would be to assume the current rate would hold through the entire year. "We'll be reforecasting the budget on a quarterly basis, in any case. So we can keep an eye on the situation and make adjustments later for whatever happens in the meantime."
Stan agreed and told him the consolidated plan for the following year was almost complete. "It's going to be a busy year," he said. "If your estimates are accurate, we might see the largest single sales volume increase in the history of the company," he added.
"What about profits?" asked Peter.
"That's less certain, but I'm optimistic. We're breaking a lot of new ground, and that's expensive. Any dramatic profit results may not be felt until a year or more from now."
"I only hope the Board sees it that way," thought Peter.
Questions about the story
Who is in charge of financial planning at Audio Performance?
What information does he need to prepare the budget?
What matter did Stan want to consult Peter about?
How much does AP export to England?
What had been happening to the value of the pound?
What was the cause of this decline?
How did the exchange rate affect the price of AP's exports to England?
What had been happening to AP's export sales as a result?
What announcement had the British government made?
What effect might the new government have on the exchange rate?
How had the exchange rate been anticipated in previous budgets?
How did Peter tell Stan to handle the problem in the financial plan?
How often would the budget be reforecast?
What did Stan think would happen to sales volume in the following year?
Why would the effect on profits probably be less immediate?
For discussion
How can fluctuating exchange rates be used to the advantage of a company?
What action can governments take to affect exchange rates?
Describe several examples of companies (or countries) that are presently benefiting from rising (or falling) exchange rates?
Text № 5