Unit 14 a good name is everything

1. Pronounce the following words and word combinations. Use a dictionary if necessary.

Accusation, corruption, attorney-general, to downgrade, debt, allegation, foul, to erode, adverse, publicity, spectacular, to get publicised, probe, tainted, questionable, to interpret, quantifiable, to vindicate, obsessive, savvy, facet, terror, corporate, supervisory.

2. Give Russian equivalents to the following words and word combinations.

A stark reminder of the risk, to rig business, to stifle competition, to bring a lawsuit against, to downgrade a debt, to cite concerns about, to come on the heels of trouble, to run foul of regulators, to be eroded by adverse publicity, to bring the issue of reputational risk to the fore, blow-up, to push stocks, to get hammered, to undermine reputation, probe, tainted research, to avoid the spotlight, to do a plain vanilla transaction with, to settle a lawsuit, to oust senior executives, box-ticking compliance, to guard against less quantifiable threats, to vindicate efforts, to become savvy about, all facets of the organisation, risk management challenges, to foster a strong corporate culture based around reputation.

3. Read the text again and answer the following questions.

1. What has provided a stark reminder of the risk US companies now rate as one of the most significant: reputational risk?

2. What did Eliot Spitzer contend earlier this month?

3. What company did he bring a lawsuit against?

4. What happened to shares of this company? And why?

5. What was the downgrade also prompted by?

6. What else might erode company’s reputation? What could it lead to?

7. Where has the ongoing series of corporate shocks brought the issue of reputational risk to the fore?

8. What have followers of Mr. Spitzer’s previous probes noted?

9. Who is becoming much more sensitive to reputation?

10. Why did Citigroup oust three of its most senior executives?

11. What is the net result of the corporate scandals?

12. What have risk managers complained of?

13. What did PwC find in its survey?

14. Why have US corporate scandals drawn attention to a broad spectrum of risk management challenges?

15. What does one senior manager argue? Do you agree with him?

1. Complete the sentences with the information taken from the text.

1. Since the … … of Enron in 2001, the US has been home to a series of corporate scandals.

2. PwC’s report also noted the … nature of the US where costly legal challenges can … reputation further.

3. A … … of the risk US companies now rate as one of the most significant.

4. Citigroup … three of its most senior executives for falling to prevent regulatory problems in Japan.

5. That firm’s reputation is going to … … .

6. The ongoing series of corporate shocks in the US has brought the issue of reputational risk to the … .

7. The most reliable method of dealing with risk is still to concentrate on … a strong corporate culture based around reputation.

8. The … … of the corporate scandals is a wave of new regulations.