- •Contents
- •Вступне слово
- •Management as a science
- •Introduction
- •Use of the essential vocabulary
- •Applied grammar
- •Write what he/she did and what he/she didn’t do yesterday:
- •Your manager has just come back from a business trip. Ask him/her about:
- •Say, what he/she will do at this time:
- •Past Simple of the following verbs: to win, to spend, to begin, to invite, to like, to award, to send, to sell, to pay, to teach.
- •Future Simple of the following verbs: to give, to have, to come, to start, to launch, to be, to start, to get, to work, to visit.
- •Reading and writing
- •Text 1. Management
- •Text 2. Mary parker follett: mother of modern management
- •Developing speaking skills
- •English course agreements:
- •Planning and organising
- •Introduction
- •Use of the essential vocabulary
- •Applied grammar
- •Some, any, no. Translate them and explain your choice.
- •Many, much, few, little. Translate them and explain your choice.
- •Present Continuous, put questions to them and give negative answers.
- •Past Continuous, put questions to them and give negative answers.
- •Past Continuous.
- •Future Continuous.
- •Future Simple or Future Continuous.
- •Reading and writing
- •Text 1. Planning
- •Text 2. Organising
- •Figure 1. Organisation with Narrow Span
- •Figure 2. Organisation with Wide Span
- •Developing speaking skills
- •Directing and controlling
- •Introduction
- •Use of the essential vocabulary
- •Applied grammar
- •You have a meeting with your partner. Ask him about his business. Use the following words:
- •You have just come back from a business trip. Tell your colleagues about it:
- •You have a plan of activities for your working day. Explain what you will have done by the definite time:
- •The modal verb May according to the model and translate them: I wish you organise the meeting. – You might organise the meeting.
- •The modal verb Must according to the model and translate them: I am sure your manager is a highly qualified specialist. – Your manager must be a highly qualified specialist.
- •The modal verb Can:
- •The modal verbs May, Can, Might and Could:
- •The modal verbs Must, Had to:
- •Reading and writing
- •Text 1. Directing
- •Text 2. Controlling
- •Developing speaking skills
- •Land auction
- •Business organisation and marketing
- •Introduction
- •Use of the essential vocabulary
- •Applied grammar
- •Reading and writing
- •Text 1. The basic forms of business organisation
- •Text 2. The main concepts of marketing
- •Developing speaking skills
- •Financial and risk management
- •Introduction
- •Use of the essential vocabulary
- •Applied grammar
- •I said, “I involved short-term and long-term forecasting, budgeting and financial controls” – I said that I had involved short-term and long-term forecasting, budgeting and financial controls.
- •Reading and writing
- •Text 1. Financial management
- •Text 2. Risk management and insurance
- •Developing speaking skills
- •Human resource management
- •Introduction
- •Use of the essential vocabulary
- •Applied grammar
- •I manage our delivery department. I am proud of it. – I am proud to manage our delivery department.
- •I was adjusted to new working conditions. I am glad of it. – I am glad to have been adjusted to new working conditions.
- •I have not seen the new production line. I am sorry about it. – I am sorry not to have seen the new production line.
- •Reading and writing
- •Text 1. Management and leadership
- •Text 2. Motivation and human resource management
- •Developing speaking skills
- •The profession of a manager
- •Introduction
- •Use of the essential vocabulary
- •Applied grammar
- •Most of employers who work in human resource department are head hunters. – Most of employers working in human resource department are head hunters.
- •Managers who are working in financial department are analysing financial contracts. – Managers working in financial department are analysing financial contracts.
- •When he read the report, he found a lot of errors. – When reading the report, he found a lot of errors.
- •When he discussed everything with the partner, he signed the contract. – Having discussed everything with the partner, he signed the contract.
- •Our office is situated in the building, which was built last year. – Our office is situated in the building built last year.
- •I saw them as they were planning the change and how they were moving from the present to the ideal. – I saw them planning the change and moving from the present to the ideal.
- •As my colleague was on a business trip, I prepared the financial report. – My colleague being on a business trip, I prepared the financial report.
- •As his partner had prepared the report, they went home. – His partner having prepared the report, they went home.
- •When the work had been done, they phoned to the office. – The work having been done, they phoned to the office.
- •Reading and writing
- •Text 1. The profession of a manager
- •Text 2. Professional and personal skills of a manager
- •Developing speaking skills
- •Opening a New Restaurant
- •Business research and research ethics
- •Introduction
- •Use of the essential vocabulary
- •Applied grammar
- •After he forecasted changes in the market, he began to work as an analyst. – After forecasting changes in the market, he began to work as an analyst.
- •She insisted that she should solve the problem herself. – She insisted on solving the problem herself.
- •He insisted that he should be eliminated from the team. – He insisted on being eliminated from the team.
- •I want to get your report very much. – I am looking forward to getting your report.
- •It gave me much pleasure to work with you. – I enjoyed working with you.
- •It is useless to apply old methods. – It is no use applying old methods.
- •I am a team leader. I am proud of it. – I am proud of being a team leader.
- •He is given important information. He is proud of it. – He is proud of being given important information.
- •He was given important information. He is proud of it. – He is proud of having been given important information.
- •I did not request permission. I planned the interview myself. – Instead of requesting permission, I planned the interview myself.
- •Reading and writing
- •Text 1. Business research
- •Text 2. Research ethics
- •Developing speaking skills
- •Peculiarities of business communication
- •Introduction
- •Use of the essential vocabulary
- •Applied grammar
- •The Infinitive and its complexes:
- •The Gerund and its complexes:
- •The Participle and its complexes:
- •Reading and writing
- •Text 1. Problems of cultural differences
- •Text 2. Nonverbal communication: body positions and movements
- •Developing speaking skills
- •Body talk.
- •Information technologies in management
- •Introduction
- •Use of the essential vocabulary
- •Applied grammar
- •Knowledge is a key to success, so there are so many ways to gather and keep information. – If knowledge weren’t a key to success, there wouldn’t be so many ways to gather and keep information.
- •I didn’t know about telecommuting, so I didn’t use it. – If I had known about telecommuting, I would have used it.
- •I am sorry an online chart room is not available in my computer now. – I wish an online chart room were available in my computer now.
- •It’s a pity, I had such poor information about ongoing situation. – I wish I hadn’t had such poor information about ongoing situation.
- •I advise you to stop your attempts in this sphere of business. – You had better stop your attempts in this sphere of business.
- •I prefer to use a chat room. – I would (had) rather (sooner) use a chat room.
- •Subjunctive I.
- •Subjunctive II.
- •Reading and writing
- •Text 1. Information technologies for electronic commerce
- •Text 2. Management information system
- •Developing speaking skills
- •Head-hunting and job hunting
- •Introduction
- •Use of the essential vocabulary
- •Applied grammar
- •Referring to the Present and Future (Conditional II);
- •Referring to the Past (Conditional III).
- •Reading and writing
- •Text 1. Head-hunting
- •Text 2. Job hunting
- •Developing speaking skills
- •How to choose the best career?
- •Famous ukrainian names
- •In economics and management
- •Introduction
- •Use of the essential vocabulary
- •Applied grammar
- •Reading and writing
- •Text 1. The development of administration and management as a science in ukraine
- •Text 2. Mykhailo tuhan-baranovskyy
- •Developing speaking skills
- •Extended reading
- •Inquiring minds want to know – now!
- •Violence on tv
- •International electronic cash
- •Ivan vernadskyy
- •Tests for self-control
- •Keys to tests
- •Grammar reference
- •§ 1. The noun
- •§ 2. Pronouns
- •§ 3. Verb tenses
- •Past Simple Tense
- •§ 4. Modal verbs
- •§ 5. The verb: passive voice
- •§ 6. Direct and indirect speech
- •Changes of Verb tense forms when transferring sentences from Direct into Indirect Speech
- •§ 7. The infinitive
- •§ 8. The participle
- •§ 9. The gerund
- •§ 10. The verbal complexes: comparison
- •Syntactic functions of the verbals: comparison
- •§ 11. The subjunctive mood
- •The suppositional mood is used in:
- •§ 12. Conditional sentences
- •§ 13. The compound sentence
- •§ 14. The complex sentence
- •Vocabulary
- •Literature
- •Іноземна мова професійного спрямування (англійська мова для менеджерів)
Financial and risk management
Introduction
Task 1. Discuss the following questions:
What are the functions of a financial manager, in your opinion?
How can you describe long-term and short-term funds?
What does financial planning mean, do you think?
In your opinion, how can your personal financial management help you in buying such things as a flat, car etc.?
Do you think that financial planning is useful in everyday life? Why?
Use of the essential vocabulary
Task 2. Memorise the essential vocabulary to Text 1 and translate the sentences containing it:
(1) accounting (облік доходу, бухгалтерський облік) – system of recording and summarising business and financial transactions and analysing, verifying and reporting the results. Accounting is a procedure each manager should be acquainted with.
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(2) bond (облігація) – the amount of the money guarantee. A bond is a certificate showing that a person has loaned money to a firm. secured bond – забезпечена облігація unsecured bond – незабезпечена облігація
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(3) to cut expenses (зменшити витрати) – to reduce costs. If we want to get profit we should not cut expenses on a stunning advertising campaign.
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(4) earnings (грошові надходження) – the balance of revenue after deduction of costs and expenses. Retained earnings are the profits a firm keeps after distributing dividends to stockholders. retained earnings – нерозподілені прибутки, надходження
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(5) equity financing (акційне фінансування) – the capital involving the public sale of stock. Equity financing involves the public sale of stock. |
(6) to expand (розширюватись) – to increase the extent, the number, the volume or the scope of smth. Our company has greatly expanded thanks to launching several branches abroad.
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(7) funds (фонди, активи, гроші) – personal estate of a firm, money that an organisation needs or has. Internal funds are money coming from within a firm.
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(8) to give preference to smth. (надавати перевагу) – to prefer smth. to smth. Prefered stock gives owners preference in payment of dividends.
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(9) to invest into (вкладати гроші, інвестувати) – to put money into a business or venture intending to earn profit. I would like to invest my money into building a new hospital.
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(10) middleman (посередник) – a dealer or agent intermediate between the producer of goods and a retailer or a consumer or the one to arrange business deals for others, often for a profit. One may have a middleman to deliver goods to a consumer.
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(11) to optimise profits (оптимізувати дохід) – to make profits as huge, effective or functional as possible. The only way out of this situation is to optimise profits.
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(12) proxy (доручення) – a document giving the authority to act for another person. Proxy is temporary transfer of voting rights from stockholders to managers.
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(13) revenue (прибуток) – gross income returned by investment. Planning a budget one must plan not only expenditures but also revenue one may obtain.
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(14) securities (цінні папери) – an evidence of debt or ownership (as a stock certificate or a bond). Securities are represented by stocks and bonds.
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(15) stock (акція) – a share of ownership of a company. Stock exchange is a market where stocks and shares are bought and sold under fixed rules, but at prices controlled by demand and supply. common stock – звичайна акція preferred stock – привілейована акція
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(16) stock exchange (фондова біржа) – a place where security trading is conducted on an organised system. A stock exchange is the market, where brokers meet each other to buy or sell stocks and bonds for their customers.
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(17) treasurer (скарбник) – an officer entrusted with the receipt, care and disbursement of funds. A person who obtains, plans and controls money effectively is known as a vice president of finance or treasurer.
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(18) venture (комерційна справа) – a new business activity that involves taking risks. Businessmen should mediate over the best way of investing money to promote a venture. to venture – ризикувати |
Task 3. Match each word in section A with its translation in section B:
Accounting; audit; effectively; optimisation; mutual funds; to project; investments; securities; inadequate; long-term; to evaluate; obligation; comprehensive; assets; to establish; objectives; advantageous; unsecured; to pay back; raw materials; revenue; interest; balance sheet; to vote; mature; cooperation; to comprise; yearly budget; vehicle; discount.
Оптимізація; балансовий звіт; неадекватний; відсоток; інвестиції; майно; започатковувати; голосувати; бухгалтерський облік; вигідний; зобов’язання; довгостроковий; спільні фонди; містити в собі; зрілий; річний бюджет; сировина; незабезпечений; оцінювати; прибуток; аудит; виплачувати; ефективно; цінні папери; планувати; знижка; співпраця; засіб передачі; цілі; зрозумілий.
Task 4. Match each word in section A with the one of the similar meaning in section B:
To repay; to accumulate; commodity; to delay; external funding; to imply; to optimise; temporary sources; top management; backed up by; to preserve; disadvantage; financing; to distribute; significant.
Sources for a limited time; to maintain; monetary support; to gather; supported by; to hold up; to pay back; to increase; a weakness; outstanding; to enfold; key executives; to apportion; money coming from outside the firm; goods.
Task 5. Match each word in section A with the one of the opposite meaning in section B:
Foreign currency; short-run money; efficiently; collateral; external funding; to give preference to; to obtain; with projection; earnings; cash requirements.
Long-run money; providing no aid or support; to lose; without-cash requirements; domestic currency; not planned; expenditures; non-efficiently; not to pay attention to; internal funding.
Task 6. Match each word in section A with its definition in section B:
Overdue payments; maturity; investment vehicles; equity financing; commodity; to cut expenses; debenture; mortgage; revenue; treasurer; to optimise.
The capital involving public sale of stock; bonds backed by the general credit of an issuer; an officer entrusted with care of funds; to reduce costs; a product for sale; to increase; money not being paid in time; lien against property; money coming from a transaction; the state of complete development; the ways people may invest their money.
Task 7. Rearrange the following jumbled words into sentences:
1. The role of finance, in business, is huge. 2. Financial managers use data, and recommend to the top management, obtained from accountants, how to improve the financial strength of a firm. 3. A true manager, the same as a good accountant, must understand accounting, has to be aware of finance. 4. Finance is the function in business, and planning possible expenditures of funds, responsible for getting funds for a firm, managing funds within a firm, on various assets. 5. A person, is known, who obtains, plans, and controls money effectively, as a vice president of finance or treasurer. 6. There is long-term and short-term financing, a difficult financial situation, as the ways to consider, at a firm. 7. The money is usually used, to finance larger expenses, or long-term assets, such as buying equipment, or just expanding of an organisation. 8. A company may obtain capital, that is referred to, that involves the public sale of stock, as equity financing. 9. Stocks, of a company, are shares of ownership. 10. A stock certificate, stock ownership, proves.
Task 8. Memorise the essential vocabulary to Text 2 and translate the sentences containing it:
(1) actuary (актуарій, статистик страхового товариства) – smb. who advises insurance companies on how much to charge for insurance, after calculating the various risks. Actuary predicts future possible losses on the basis of historical data. |
(2) additional funds (додаткові кошти) – money coming from additional sources. We need additional funds to run our business.
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(3) to afford (дозволити собі фінансово) – to have enough money to buy or pay for smth. Self-insurance guarantees managing amount of loss to those companies that cannot afford conventional property or casualty policies.
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(4) appropriate (відповідний) – suitable for this very situation or moment. People compile appropriate plans and efficient programs to cover the risk at a minimum cost.
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(5) bankruptcy (банкрутство) – the state of complete financial failure. The risk of failure, bankruptcy and financial losses is also increasing. to become a bankrupt – стати банкрутом to go bankrupt – збанкрутувати
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(6) to calculate (обчислювати) – to determine by mathematical processes. Insurance adjuster calculates the extent of a loss.
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(7) cargo (вантаж) – the goods or merchandise conveyed in a ship, airplane or vehicle. The cargo must be delivered in time.
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(8) conventional (звичайний, традиційний, загальноприйнятий) – taking place in accordance with the law. Self-insurance guarantees managing amount of loss to those who cannot afford conventional property or casualty policies.
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(9) to cover losses (покривати втрати) – to reimburse the money spent. We have covered all the losses caused by the poor performance.
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(10) to enable (надавати можливість) – to give an opportunity to act. This document enables you to make your own decisions concerning the point.
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(11) to exceed (перевищувати) – to be more than a number or amount, especially a fixed number. When income exceeds expenditures, a budget will have a surplus.
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(12) facilities (сприятливі умови; можливості; засоби; устаткування) – comfortable conditions for people to perform. Employees must be provided with good working facilities. |
(13) to guarantee (гарантувати) – to give security to, to assert confidently. The right to private property is guaranteed in our country.
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(14) hazardous activity (небезпечна діяльність) – a kind of activity that may cause damage or subject one to a possible failure. Some companies try to avoid risks by not being involved in hazardous activity.
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(15) institution (установа) – an established organisation or corporation especially of a public character. Insurance policy stands for a written contract between the insured individual or institution and the insurance company itself that promises to pay for all or part of a loss.
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(16) insurance (страхування) – a means of guaranteeing protection or safety. Insurance is rather expensive cost, thus people in business have to search for the other sources of managing risks. insurance adjuster – працівник служби страхування, який здійснює оцінку страхових збитків insurance policy – страховий поліс insurance premium – страхова надбавка participating insurance – страхування з участю у прибутках страхового товариства stock insurance company – акціонерна страхова компанія mutual insurance company – взаємоощадний банк
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(17) issue (пункт, питання) – a point, a question to discuss. One may consider this issue to be the major one among the other business issues.
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(18) key executive (керівник вищої ланки) – a person responsible for performance of an enterprise. A true key executive must be prudent, responsible and open to change.
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(19) legal claims (юридичні позови, правові скарги) – claims made according to the law. You have the right to legal claims.
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(20) mutual (спільний) – shared in common. A mutual insurance company is owned by its policyholders.
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(21) nonpayment (невиплата) – failure to repay. Credit policy covers from nonpayment by consumers. |
(22) option (варіант, альтернатива, вибір) – an alternative course of action. An enterprise may earn additional funds through buying new machinery, considering options, making decisions to decrease the probability of loss.
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(23) to pay off bills (сплачувати рахунки) – to pay a certain sum of money according to the bill. Living in the hotel you have to pay off the bills.
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(24) policyholders (власники страхових полісів) – the owners of insurance policy. Policyholders may sell policies to those who want to insure their business.
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(25) possible losses (можливі втрати) – the money which might be possibly lost while operating a business. All the possible losses must be foreseen.
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(26) to presuppose (заздалегідь припускати; припускати як попередню умову; передбачати) – to presume or depend on smth. that is believed to exist or to be true. Most attention should be paid to life insurance presupposing insurance for executives and employees.
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(27) property (власність) – all the things one owns. Self-insurance guarantees managing amount of loss to those companies that cannot afford conventional property or casualty policies. private property – приватна власність
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(28) probability of loss (реальна можливість втрат) – the state when the risk of financial loss is rather high. Risk refers to the chance of loss, the probability of loss and the amount of possible loss.
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(29) to purchase (купувати) – to buy. Would you like to purchase insurance on this estate? purchase – покупка
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(30) to reimburse (відшкодовувати) – to make restoration or payment of an equivalent of money. All the expenses on the business trip will be reimbursed. reimbursement – відшкодування
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(31) the risk of failure (ризик збанкрутувати) – the risk to become a bankrupt. Every business finds itself under the risk of failure. |
(32) to represent (представляти) – to present, to stand for. Actuary representing the other profession in the sphere of risk management predicts future possible losses on the basis of historical data.
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(33) to retire (виходити на пенсію) – to leave the place of work because of the age limit. Retirement plans should provide employees with the ability to get financial support after retiring from a job. retirement – пенсія
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(34) to self-insure (застрахувати себе) – to insure oneself . The firms might self-insure against the risk, avoid the risk or buy insurance to cover the risk.
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(35) source (джерело) – a thing, place, activity etc. that you get smth. from. We have found a reliable source of income.
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(36) to sustain (підтримувати, підтверджувати) – to make smth. continue to exist or happen for a period of time, to give support to. The new business plan was sustained during the last meeting.
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(37) theft (крадіжка) – the act of robbing, taking and removing off a personal property. You cannot foresee a possible theft, but you can insure your property against it. thief – злодій |
Task 9. Match each word in section A with its translation in section B:
To broaden; to manage; to consider; pure risk; rates; retirement; pension plans; performance; to reduce; to provide; executives; to guarantee; to issue; to refer to; to represent; demand; to propose; to appear; an individual; to exceed; policy; employees; to share; to acquire; non-payment; breaking.
Розширювати; працівники; гарантувати; керівники; рівні; попит; пенсія; ділити; зменшувати; забезпечувати; чистий ризик; видавати; перевищувати; з'являтися; пенсійні плани; представляти; називати; набувати; діяльність; невиплата; злам; пропонувати; індивід; керувати; розглядати; поліс.
Task 10. Match each word in section A with the one of the similar meaning in section B:
To presuppose; property; efficient; opportunity; consumers; natural disaster; amount of loss; facilities; bankruptcy; considerable; to decrease.
Belongings; clients, customers; quantity of loss; to assume; catastrophe; effective; comfortable conditions; to diminish, to minimise; significant; actual possibility; failure.
Task 11. Match each word in section A with the one of the opposite meaning in section B:
Additional; to minimise; to sustain; to afford; to pay off; maintenance; conventional; hazardous.
To optimise; to fail to perform; negligence; anarchic; spare; reliable; to turn down; to fail to repay.
Task 12. Match each word in section A with its definition in section B:
To enable; appropriate; financial support; liability; the premium; speculative risk; stockholder; policyholder; to reach for.
The risk involving a chance for either profit or loss; the owner of shares; to give smb. an opportunity to act; especially suitable or compatible; the fee charged by an insurance company; the owner of an insurance policy; to aim for smth.; the amount of debt that must be paid; monetary support.
Task 13. Rearrange the following jumbled words into sentences:
1. The risk of failure, is also increasing, bankruptcy, and financial losses. 2. Some years ago, to protect against the risk, the best way, was to buy insurance. 3. Insurance is rather expensive cost, have to search for the other sources, thus people in business, of managing risk. 4. Risk, the chance of loss, the probability of loss, refers to, and the amount of possible loss. 5. Speculative risk, a chance of either profit, involves, or loss. 6. An enterprise, through buying, making decisions to decrease, may earn additional funds, new machinery, considering options, the probability of loss. 7. Pure risk, the threat of loss, is defined as, with no chance for profit. 8. Business firms, very often, deal with pure risk. 9. Reducing the risk, to protect employees, is possible through, through providing health education, purchasing and using safety devices, from possible accidents, and equipment maintenance programs. 10. Self-insurance guarantees, that cannot afford conventional property, managing amount of loss, to those companies, or casualty policies.