7. Listen again and fill in the gaps in these sentences from the conversation.

1. We are ………………………………………………………………. some problems, I’m afraid.

2. And they have taken it home and ………………………… it ………………… on their children.

3. Good heavens! That means we’ll never ………………………….. it …………………….. the market by June. …………………………………………………….. !

4. Even so, I’m not going to …………………………………………, Vanessa.

5. OK. I‘ll ……………………… a meeting ………………….. George.

Speaking

8. Your company has been developing an ultra-modern product which has several revolutionary features. You are confident it will be a world-beater!

Unfortunately, you have spent a fortune on the development costs of the project. Because of this, the company is on the verge of going bankrupt. You need a lot more money to finance the final stage of the project and to ensure that the launch of the product will be successful.

In desperation, you approach a number of banks but they are not willing to lend you the money you need. Finally you contact a small but well-known bank which sometimes provides development capital for small firms like yours. The bank, Bristol and Owen Associates, receives many requests for financial assistance. If they like what they hear, they will make a loan to a firm or invest money in it in return for a shareholding.

Instructions

Three of four members of the class should play the roles of executives from Bristol and Owen Associates. The rest of the class should divide into groups of three or four, each group representing a company which is desperately seeking a loan from the bank.

Study your respective role-cards and then do the following:

The executives from Bristol and Owen Associates should meet each of the companies in turn and listen to their presentations. The bank’s executives should then ask relevant questions. Finally, the bank’s executives should discuss the merits of each company’s application and then choose one company to whom it will lend the money.

The Companies You work for a company which is developing an exciting and revolutionary new product. You may choose any product you wish. You job is to make a convincing presentation of your product to Bristol and Owen Associates. Prepare your presentation carefully. Your presentation should take the following form: Introduce the members of your management team (Managing Director, Financial Director, Marketing Director, Technical Director, Production Director etc.). Give a brief presentation of your company: location, company mission, business strategy, product range, markets, turnover, pre-tax profits, size of work-force etc. Give details about the new product you are developing: general description, technical specifications, revolutionary features, target consumer, price, marketing plans, production targets etc. Explain to the bank how you see your company developing in the future. Tell the bank how much money you need and on what terms. Be prepared to answer questions from the bank’s executives.

BRISTOL AND OWEN ASSOCIATES You work for Bristol and Owen Associates. It is your job to listen to each company’s presentation and to question each team about their project, either during and/or after their presentation. Remember, your bank is not a charity (an organization which gives away money)! Before you meet the companies, choose one of the members of your group to be Chairman of the bank and to lead the discussion. Discuss together how you are going to conduct the meetings. After meeting all the companies, decide which one you are going to lend the money to. Finally, make a formal announcement to the class, giving the reasons for your choice.