Монолог 8

Monologue on BUSINESS 3331505/10001 Grichachina Alina

Active Vocabulary: 25, Grammar Structures: 0, Linkers: 14. Total: 684 words

Currently, many people are thinking about starting their own business. The fact is that business is a great opportunity for self-realization and high income. However, there are also many difficulties in managing a business that you will have to face.

What are the reasons for business success? To succeed in it, you have to adhere to some rules. First of all, you have to prepare carefully. Do some market research and then to make a business plan. It is also important to set the prices of goods correctly. For example, when you sell luxury goods, you need to charge high prices if you want to be taken seriously. Thinking about future is the key. It is important to put money back into the business, but make sure you deal with tax properly. In addition, try to invest in the local community, to put something back.

There are some typical problems that an entrepreneur may face. Knowing them in advance can teach you how to manage a business properly and help you navigate in a dynamic business environment. The main problem is provide bad customer service. If your team is weak and you don't recruit a new manager and good employees, most likely you will fail. The next problem is over-dependence on one main customer. As a consequence, if he stops liking your products, your business may go bankrupt. A good option would be to promote the product in a different way to different people. Besides, the problem may be pricing. In pursuit of attracting buyers, sellers make to price the product below the competitors and sell the product at a price that does not cover the costs. As a result, your business becomes unprofitable.

Ethical problems in business are problems that arise when someone in the company acts in their own interests, while the result of actions has negative consequences for employees or the company, or even the environment. People break the terms of the contract, for example, by taking bribes, not suspecting what losses

this can bring to the company during its verification. In addition, companies are looking for ways to reducing costs and as a result they cut back on investment in technology, which leads to environmental pollution.

During the crisis of the 90s of Russia, many employees were not only don't get a decent bonus, but also salary. My family had friends who worked in the canteen and brought food home from there and shared it with my family. Consequently, if it were not for the break of the law, my family would starve.

What makes a business icon? Building up a highly profitable business is hard, but creating an iconic business is even harder. A person must have many entrepreneurial skills to achieve this goal. For example, in order to have a successful negotiations, an entrepreneur must have the skills of public speaking. To come up with an idea of a brand, you need to have creative thinking. A strong brand allows you to move from a small player to a serious competitor and make a business an icon.

In Russia, there is a businesswoman Tatiana Bakalchuk, the owner of Wildberries, who is among the top richest businessmen in Russia according to the international magazine Forbes. Tatiana Bakalchuk and her company had two key reasons for success. Firstly, the project was the first to introduce free shipping. Secondly, the marketplace has placed a bet on the fastest possible coverage of the entire country with its order pick-up points. The decisions, though, greatly squandered the project's economy at some stage of its life. But in the future, it gets a win-win result for both sides, because there were customers and a constant increase in the number of orders.

In conclusion, I would like to say that business is an area that opens up many new opportunities for a person, such as high income, the opportunity to work on interesting projects, self-development, and so on. However, there are many pitfalls and difficulties in this. Success in business is possible, but for this a person needs to act deliberately and make every effort.