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  1. Invent a company. Use the chart in Task II to help you prepare a

presentation about it. Make use of the phrases from the Useful Language

box.

GRAMMAR REVIEW 2

Phrasal verbs

I. Look at these examples of phrasal verbs from the unit. What synonyms can

we use instead of these phrasal verbs? Choose from the list below.

1. It has taken time to build up sales, but we’ve done well in the first years...

2. ...each day its factories turn out 50 million integrated circuits.

3. The Board of Management looks after the general direction and long-term

strategy of the Philips group.

4. How can you keep up your performance at such a difficult time for the

economy?

supervise produce increase maintain

  1. Replace the words in bold with phrasal verbs. Use a dictionary if

necessary.

point out call off

buy out call on

think over let down

look after

  1. The meeting has been cancelled because several employees are unable to attend.

  2. We already own 30 % of the company’s shares and we intend to purchase another 20 % in the coming year.

  3. The new subsidiary will be supervising our operations in the Middle East.

  4. The General Manager indicated some mistakes in the annual report.

  5. We’ll need some more time to reflect upon the report before we make a decision.

  6. One of our sales representatives will visit you next week.

  7. This year the company has disappointed investors by announcing an unexpected loss.

CASE STUDY

Valentino Chocolates

Background

Valentino chocolates are made in Turin, Italy. They are recognized as luxury products with a delicious and unique taste. Some of Valentino’s finest chocolates are handmade and have won many international awards.

Expansion

The company started by selling raw chocolate to other chocolate manufacturers. They used it to make their own products. Later, Valentino began selling packaged chocolates directly to the public and created the Valentino brand.

The company expanded fast. It now has 300 employees, 75 company-owned shops and a turnover of 90 million euro. However, in the last two years, sales growth has slowed down and costs have risen. This has caused a fall in profits by 1.8 million euro.

Reasons for falling profits:

  1. Prices

There is a widespread price cutting in the industry.

  1. Production

Factory machines often break down.

  1. Demand

Demand for its Classic Bar is falling. Valentino’s new products, biscuits and

cakes are not selling well. They constitute only 1% of turnover.

The future

The company’s owners want Valentino to become an international business. They believe it makes the finest chocolates in the world. This year they have set aside 1.5 million euro to invest in their company. Their problem is to decide how to spend the money so that the company will continue to expand. Recently, a well-known business journal did a profile of the company. It ended as follows:

Valentino can continue to grow, but only if it develops new products and finds new markets.

The ways in which Valentino could invest the 1.5 million euro are listed below.