AELA_E1002_SESI_SG

Michelle: Oh yes. But then I always had it in me, I guess. Talent Acquisition and Organisational Development were always my pet subjects. In the course of the last few years, I have read up a lot on these subjects and have attended several training programs and workshops in California and London. So, I did make a conscious effort to prep myself up.

Interviewer: That’s great! What you do?

Michelle: I now run an executive search firm. I started this company six years back. Interviewer: A staffing company?

Michelle: Well, it’s much more than that. It is not limited to just sending out resumes of potential candidates that they can interview and hire. Let me explain. It’s a strategic function that we perform to help organisations fill gaps. We consult with organisations to understand their specific role requirements and business needs. We discuss potential solutions with them and then help them hire people that will be the right fit.

Interviewer: In the current scenario, what does this type of role mostly feed on?

Michelle: For an executive search firm today, the cornerstone of success is strong networks and relationships its people have. This is something that has changed considerably over the course of the last few years. Everything is relationship driven and it becomes very important to establish partnerships and efficient teams. One has to work at developing a deep understanding of the customer’s requirements and then work on them.

Interviewer: So what kind of leaders do companies want?

Michelle: As leaders, companies want people with the ability to envision how the future will pan out as a consequence of decisions they are taking, be proactive about how the organisation should be moulded and more essentially lead by example.

Interviewer: It is quite evident that you like what you are doing.

Michelle: I do. I love this bit about being able to create value for our customers. Because of working with companies that belong to such diverse industry segments and on such a variety of projects, we are learning something new every day. There are a lot of challenges and I guess, that’s what makes it so interesting.

Interviewer: Thank you so much for your time, Michelle. Michelle: Oh, it’s been lovely talking to you.

10.1.2 Exercise

Based on Michelle’s interview that you just heard, select the right words to complete the sentences.

1.Michelle works in __________ (London/California/New York).

2.She started her career as an __________(editor/writer/recruiter).

3.According to Michelle, the most important aspect of running an executive search firm is

___________ (finding the right candidates/building a database of customers/networking and establishing strong partnership).

4.She likes her work because ___________she (works with a team she’s known for several years/learns something new every day/can travel to far off lands).

5.Michelle says she helps companies ___________ (schedule interviews/shortlist candidates/ fill gaps).

10.1.3 Exercise

Listen to the audio again and answer the following questions.

1.Where was Michelle born?

2.Why could Michelle not finish the last few years of her education in London?

3.For how many years did Michelle work as an editor?

4.What did Michelle do to prepare herself to be able to run an executive search firm?

5.What kind of leaders do companies need?

10.1.4 Class Activity

Work in pairs. Assume that you harbour a desire to start your own company. Discuss what steps what steps you should take towards achieving the goal.

Prepare a presentation and present it to the class. Include the objective of the company, mission and vision.

10.2 Grammar

10.2.1 Past Simple, Present Perfect Simple and Present Perfect Continuous

Let’s understand some common form of tenses.

10.2.2 Exercise

Categorise the following statements according to the tenses.

a.I went to Bali six months ago for a holiday.

b.I have been compiling information for the past two days.

c.I’ve written ten pages of the document.

d.He lived in Tokyo for seven years.

e.I have been trying to find my glasses for the last one hour.

f.I have baked two cakes.

10.2.3 Experience at Vodafone

Vodafone, a British mobile telecommunications company, is the world’s largest when measured by revenues and the world’s second largest when measured by the number of subscribers. Although the mobile phone industry has been experiencing problems since 2000, Vodafone remains a leader, a lot because of the efforts of leaders like Sir Christopher Gent.

Sir Christopher Gent joined Vodafone as Managing Director when it’s mobile services where first launched in 1985. He held the position of Managing

Director until December 1996. He became the CEO of Vodafone in January 1997 and remained so until he retired in July 2003.

While at Vodafone, Sir Christopher Gent was also Chairman of the Supervisory Board of Mannesman AG. In November 1999, Vodafone made an unsolicited bid for Mannesman, which was rejected. Vodafone’s interest in Mannesman was high because Mannesman had bought out Orange, a UK mobile operator. At first, Mannesman resisted Vodafone’s efforts. However, in February 2000,

the Mannesman board agreed to the merger. It was the largest corporate merger ever.

Sir Christopher Gent is now the Chairman of GlaxoSmithKline, a British pharmaceutical company. He joined in June 2004 and became the Chairman in January 2005.

He remains a very well known person in business today. He has been steadily climbing the ladder since he began his career more than three decades ago with NatWest Bank where he worked for four years.

10.2.4 Exercise

Based on the passage on Sir Christopher Gent’s experience at Vodafone, complete the following sentences with ‘for’, ‘since’ or ‘ago’.

1.He worked with Vodafone __________ 18 years.

2.He began his career more than three decades __________.

3.He remained the Managing Director of Vodafone __________ the time he joined in 1985 until he became the CEO in 1997.

4.Mannesman had acquired Orange a few years __________.

5.__________ January 2005, Sir Christopher Gent is the Chairman of GlaxoSmithKline.

6.He was the CEO of Vodafone __________ about six years.

10.2.5 Exercise

Now, that you know when ‘for’, ‘since’ and ‘ago’ are used, correct the following sentences.

1.Maria waited here since two hours.

2.For the time I’ve come, she’s been talking on the phone.

3.I had gone to London three years before.

4.From when are you working here?

5.I saw the movie long before.

6.I lived in London since five years.

10.2.6 Exercise

Form questions for the statements provided.

1.The mobile phone sector been experiencing problems since the year 2000.

2.He worked with NatWest Bank for four years.

3.Christopher Gent worked for Vodafone for 18 years.

4.He was the CEO of Vodafone for almost six years.

5.Vodafone bought Mannesman in the year 2000.

6.He began his career more than three decades ago.

10.3 Weak Forms of ‘Have’ and ‘For’ with Present Perfect Tense

10.3.1 Class Activity

Divide the class in groups. Have them read out the following sentences to identify the words that are pronounced with weak stress.

1.How long have you worked in New York?

2.How long have you been living here?

3.How long has he been working in sales?

Next, have the same groups read the answers to the questions and identify the words that are pronounced with weak stress.

1.I worked in New York for six years.

2.I’ve been living here for a few months.

3.He’s been working in sales for the last six months.

Divide the class in groups. Tell them that ‘For’ is pronounced in two ways when it is used in the middle of a sentence.

Have them read out –

1.For six years

2.For a few days

Point out that ‘for’ and ‘a’ seem to be joined in the second sentence. Note that ‘a’, ‘an’ and ‘the’ are also pronounced with weak stress when used with ‘for’.

Ask them to form sentences using ‘a’, ‘an’ and ‘the’ with ‘for’. For __________

Divide the class in groups. Have one group ask questions to the other. Ensure the participants use weak stress in questions and answers.

10.3.2 Class Activity

Divide the class in pairs. Have one participant will play the role of an executive search consultant and the other the role of a candidate.

The participant posing as an executive search consultant must share the job description with the participant posing as a candidate, who should then speak about their qualifications and experience.

UNIT

Money-making Ventures 11

Objectives

The learner will be able to:

Identify the ways to make money through alternative investments.Explain the essentials of finance and adjustments.

Describe how to turn Money to Wealth.

11.1 Making Money Through Alternative Investments

Ask the participants the following question –

You have taken a loan of $ 25,000 for a year. You can use it to buy something or invest it to make profits but you have to pay back the original amount at the end of the year. How will you invest the money?

11.1.1 Conversation

Interviewer: Glen is an independent financial advisor. We asked him to talk to us about some of the more uncommon investment options. Here’s what he has to say about investing in residential property, commercial property, new business, art,

antiques, lottery and horse racing.

Glen: Well, as we all already know the most common way to invest money is to put it in the bank or invest in the stock market. But if the interest rates are low and the stock market is not doing too well, you may as well explore other options. In any case, it is wise to have a diversified investment portfolio that control the risk factors and maximise returns.

Let’s talk about residential property. Investing in residential property is indeed a very attractive option. While buying-to-let property, do a thorough research so that the rent you get feeds the mortgage,

covers the maintenance cost and also leaves you with some profit. Like residential property, buying commercial property has huge prospects too. The demand is on the rise. You need to ensure the property you invest in is well located, has all the modern amenities and the demand for rentals in the area is high.

Then, there are also people who invest in new businesses. They are usually those who have significant experience in running businesses and are called angel investors. They usually provide a portion of the start-up capital in exchange for profits or shares in the company, should the company become publicly traded. New businesses benefit from the guidance seasoned businessmen provide because they have a vested interest in the business being successful.

Some people like to invest in art and antiques. When investing in art or antiques it is usually a good idea to buy what you like and keep it for at least five years. In case of art, while it is safer to buy the work of an established artist, you could invest in emerging talent if you see potential. Like art, antiques are also extremely vulnerable to fluctuations in public tastes and are, therefore, considered high-risk, speculative investments. It is advisable that you do not over invest.

Talking about the riskier options, lottery and horse racing seem very attractive and make for very good stories for newspapers but the chances of making money are really low. It is, therefore, advised that you avoid investing money in these options.

Interviewer: Thank you, Glen. This has been a very informative session and I’m sure investors will gain from this.

Glen: Thank you.

11.1.2 Exercise

Listen to Glen’s interview and answer the following questions.

2.Describe any two ways of making money that Glen recommends.

11.1.3 Exercise

Listen to the audio again and answer the following questions.

11.1.4 Class Activity

Ask the other members of your class if they have invested in any of these alternatives discussed and what made them to select the option they did. Interview atleast ten members of your class, analyse the pattern and make a presentation about the trend.

11.2 Essentials of Finance and Investment

11.2.1 Exercise

Match the terms in Column I with their definitions in Column II.

11.2.2 Class Activity

Work in pairs. Student A should read out the definitions learned and Student B will guess the terms.

11.2.3 Exercise

Complete the following sentences with the terms learned.

11.3 Exchange Opinions In a Meeting

Do you participate in meetings that are conducted in English? What kind of meetings are those? Will you participate more in the future by asking for and sharing your views?

11.3.1 Conversation

Chris, Dave, Amy and Jessica are business partners. They have set up a meeting to discuss how they can grow the business. Listen to their conversation.

Jessica: OK, as you all know we are here to discuss the things we can do to grow the business. Who’ll start with telling us their ideas? Chris?

Chris: This may not be our best choice right now but I think we should open in another location. I have spent some time studying trends, mainly consumer and I can share that data with you all. What do you think?

Amy: Chris, I’m not sure if investing in a new location, which will take a while to generate profits, is wise, at this point, especially because the economy is doing badly.

Chris: Then, how about finding a partner in another country? We do have to take some measures to increase sales. Of course, there will be a cost attached, but in the long-term, it will be advantageous.

Dave: Why are we discussing long-term goals? At this point, we should just focus on keeping up with the changes. Let’s not waste time.

Amy: Wait a minute, Dave. We have to develop a long-term strategy. We have to discuss how we intend to make the business grow. That’s why we are all here, remember. So, what do you think we should do?

Dave: In an economic downturn, there’s not much you can do to increase sales. Look at the unemployment data.

Jessica: I can site plenty of examples of businesses doing extremely well, despite the economy or the fact that their competitors fighting for survival. There are positive examples too.

Dave: Yes, but we’re not in the same line of business, right?

11.3.2 Exercise

Listen to the conversation again and answer the following questions.

1.What are the four partners talking about?

2.Which of the four is opposed to the idea of talking about long-term growth plans and why?

11.3.3 Exercise

1. Categorise the phrases as ‘Asking for Opinions’ or ‘Sharing Opinions’.

Phrases

I can share data with you. What do you think?

We have to develop a long-term strategy.

How about finding a partner in another country?

I can site plenty of examples of businesses doing extremely well.

So, what do you think we should do?

I’m not sure this is a good idea at this point.

11.3.4 Exercise

Listen to the conversation again and complete the sentences using the given phrases. There can be more than one correct answer.

1.____________ most people are ok working long hours.

2.So ____________ people who want to work only 40 hours should do?

3.___________, it does get very difficult to leave the office on time if everyone is still working.

4.__________. Why should you stay in office till late if you have finished your work in time?

5.__________ people should not work more than 40 hours.

6.Actually, ________. Forty hours are not enough. People should work at least 45 hours a week.