The Business of Business Vocabulary & Concepts | Kinh tế vĩ mô | Trường Đại học kinh tế Thành Phố Hồ Chí Minh
The concept is that businesses have a responsibility to positively impact society and the environment beyond maximizing profits. 2. The portion or percentage of a market that a business or product controls or holds. 3. The process of conducting business in a way that considers long-term environmental, social, and economic impacts. Tài liệu được sưu tầm và soạn thảo dưới dạng file PDF để gửi tới các bạn cùng tham khảo, ôn tập đầy đủ kiến thức, chuẩn bị cho các buổi học thật tốt. Mời bạn đọc đón xem!
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UNIT 1: THE BUSINESS OF BUSINESS Skills Focus • Reading • Writing 1.1 VOCABULARY
The business of business
A. Match words from Group A with words from Group B to make meaningful word partnerships. Group A sustainable social ethical value innovation competitive economic risk market customer Group B responsibility management development share progress advantage proposition satisfaction growth practices
1. .......................................................... sustainable development
6. ..........................................................
: Su phat trien ben vung Economic growth: Phat trien kinh te
2. ..........................................................
social responsibility : Trach nhiem xa hoi
7. ..........................................................
Competitive advantage : Loi the canh tranh
3. ..........................................................
value proposition :de xuat gia tri
8. ..........................................................
Risk management: Quan ly rui ro
4. ..........................................................
ethical practices : qiu chuan dao duc
9. .......................................................... Market share : thi phan
5. ..........................................................
Innovation progress: quy trinh cai tien
10. ..........................................................
Customer satisfaction : su hai long khach hang 1
B. Match the word partnerships in Exercise A with their definitions.
1. The concept is that businesses have a responsibility to positively impact society and the
environment beyond maximizing profits. social responsibility : Trach nhiem xa hoi
2. The portion or percentage of a market that a business or product controls or holds. : Market share
3. The process of conducting business in a way that considers long-term environmental, social,
and economic impacts. sustainable development
4. Unique qualities, resources, or strategies tha
t give a business an advantage over its competitors chien luoc
in the marketplace. competitive advantage
5. Conducting business in an honest, fair, and morally responsible manner, following ethical principles and values. dao duc
ethical practices : qiu chuan dao duc
6. The level of satisfaction or happiness experienced by customers in relation to the products,
services, or experiences provided by a business. : Customer satisfaction
7. The unique combination of benefits and value that a business offers to its customers, su ket hop
differentiating it from competitors.
value proposition :de xuat gia tri
8. The process of identifying, assessing, and reducing risks that could impact the success or danh gia
reputation of a business. Risk management: Quan ly rui ro danh tieng
9. The progress of the introduction of new ideas, products, processes, or business models that
create value and drive growth. Innivation progress: quy trinh cai tien dieu hanh
10. The increase in the production and consumption of goods and services led to overall
expansion and development in the economy. Economic growth
C. Complete these sentences using the word partnerships in Exercise A. : hieu qua
1. Effective …………………………………. risk management
practices help us predict and reduce potential
threats to the business, ensuring its stability and resilience.
2. We need to analyze our competitors’ strategies to maintain our
…………………………………. Customer satisfaction . 3. The
social responsibility : Trach nhiem xa hoi
…………………………………. of a business includes providing employment, xoa bo phan biet doi xu
eliminating discrimination, avoiding pollution, etc. 4. Our ………………… ………………. li
Competitive advantage : Loi the c.tranh es in our advanced technology, which allows us to
offer superior products that are unmatched in the market. 2
5. Companies need to focus on ……………… …………………. sustainable development to minimize environmental
impact and ensure a positive legacy for future generations.
6. Our competitor is lowering prices right now in an attempt to regain :
…………………………………. .
Competitive advantage : Loi the canh tranh
7. ………………………………….
value proposition :de xuat gia tri
is a statement that describes the value that a company or
product offers to the customer including unique selling points, benefits, and costs.
8. Increases in capital goods, labor force, technology, and human capital can all contribute to
…………………………………. economic growth . D. Discussion
Work in groups of three or four.
Discuss the business of business, and explore its purposes, responsibilities, and impact.
Follow these guiding questions:
• What do you believe is the main purpose of a business? Is it just about making profits, or should it pursue ot theo duoi her objectives?
• How do businesses impact society, the economy, the environment, and local communities?
• What are some ethical business practices that businesses should take into consideration?
• How can businesses balance profitability and sustainability?
Invite one representative from each group to present the key points from the discussion. 3 1.2 READING
Skimming Scanning Guessing from context PRE-READING
A. Match words or phrases in Column A with their definitions in Column B. Column A Column B 1. sole propriet
cong ty ca the orship (n) a) legal responsibility for something 2. enterprise (n)
b) an organization or a business that has its own separate legal and = company= corporation financial existence 3. liability (n)
c) to do something or make something happen trach nhiem phap ly / nợ 4. conduct (v)
d) an organization that provides goods/services with the goal of earning a profit 5. entity (n)
e) a business that is owned and operated by only one person thuc the kinh te to chuc B. Lead-in questions
1. Have you ever thought of conducting a business? If yes, what would it be?
2. Name some large businesses that you know.
C. In your knowledge, put these company types in the most likely order of size, from the
smallest (1) to the largest (4). private company/corporation 3 public company/corporation 4 partnership cong ty hop danh 2
sole trader/sole proprietorship doanh nghiep ca the 1 4 WHILE-READING
What is a business? Types and sizes of businesses
A. The term business refers to an organization engaged in commercia
thuong mai l, industrial, or professional activities. T 1
Businesses can be for-profit or non-profit organizations serving a charitable mission or
social purpose. Businesses range in scale and scope from sole proprietorships to large,
international corporations. The term business also refers to the efforts and activities undertaken
by individuals to produce and sell goods and services for profit. 2
B. Businesses often require business plans before operations begin. ’
. Business plans are essential when you want to borrow capital to begin operations. 4 commonly called for-profit. However, 4 are referred
to as not-for-profit or nonprofit. These organizations may operate as charities tu thien , arts, culture,
educational, recreational enterprises, or social services organizations. Business activities often = buy
include the sale and purchase of goods and services. Business activity can take place anywhere, ven duong = xac dinh whether that 3
’s in a physical storefront, online, or on the roadside.
. For example, the real estate business, advertising business,
or mattress production business are examples of industries.
C. Businesses are commonly classified and generally structured as:
• Sole Proprietorship: It is owned and operated by . There is no legal
separation between the business and the owner, which means the tax and legal liabilities
of the business are the responsibility of the owner. 5
• Partnership: A partnership is a business relationship between two or more people who
together conduct business. Each partner contributes resources and money to the business
and shares in the profits and losses of the business. 5 ’ .
• Corporation: A corporation is a business in which a group of people acts as a single
entity. Owners are commonly referred to as shareholders who exchange consideration for
the corporation’s common stock. cty TNHH
• Limited Liability Company (LLC): A limited liability company is a business structure
in the U.S. that protects its owners from personal responsibility for its debts or liabilities.
Limited liability companies are hybrid entities that combine the characteristics of a
corporation with those of a partnership or sole proprietorship.
D. The size of a business typically depends on its employee number. Small businesses Mid-size businesses Large businesses - Small owner-operated
- A medium-sized company is - Large businesses commonly companies are called small
defined as one with 100 to have 250 or more employees businesses.
249 employees or $10 million and generate more than $1
- Commonly managed by one to less than $1 billion in billion in gross receipts.
person or a small group of annual gross sales. people with less than 100 employees.
E. Businesses are the backbone of an economy due to their significant contributions and vital
role in driving economic growth and development as they serve as engines of job creation,
innovation, wealth generation, competition, and economic growth. Also, businesses provide
products and services that can be purchased by individuals and other companies. Overall, 8 Phúc lợi
Adapted from https://www.investopedia.com/terms/b/business.asp 6
A. Decide which heading is the most appropriate for each paragraph. List of headings 1. Paragraph A … 7 i. Types of businesses 2. Paragraph B … 4
ii. Examples of different types of businesses 3. Paragraph C … 1
iii. Contribution of businesses to the economy 4. Paragraph D … 6 iv. Understanding a business 5. Paragraph E …3 v. Writing a business plan vi. Business sizes
vii. What is a business?
B. Read the text again and answer these questions.
1. What is the purpose of a business?
………………………………………………………………………………………………………
2. What are the main components of a business plan? thanh phan chinh
………………………………………………………………………………………………………
3. How does a business define its business? vach ro
………………………………………………………………………………………………………
4. What is the difference between for-profit and non-profit businesses?
……………………………………………………………………………………………………… cty hop danh ghi nhan
5. How are the profits and loss
lo es of a partnership recorded?
………………………………………………………………………………………………………
6. What is the term for the owners of a corporation?
………………………………………………………………………………………………………
7. How is a small business defined in terms of employee number?
………………………………………………………………………………………………………
8. How do businesses contribute to the economy?
……………………………………………………………………………………………………… 7 POST-READING
Brainstorming: Imagine you and your group members (3-4 students) want to start a
business. Brainstorm the following ideas:
- what types of business it is;
- the industry in which it operates; - where it is located;
- whether it is a for-profit or non-profit business;
- business sizes (be specific about employees and expected annual revenue);
- the reasons why you want to conduct this business.
After that, each group representative will present their ideas in front of the class. 1.3 WRITING A job offer email LEAD-IN Dear Mr. Watson
A. As discussed during the interview, please find attached your detailed offer letter. If you
choose to accept this offer, please sign, scan, and email your letter to me at hr@abc.com by the end of next week.
B. Congratulations on your offer from ABC Media Agency! We are delighted to offer you the
position of Marketing Coordinator with an anticipated start date of 15 August.
C. We look forward to hearing from you and hope you l’l join our team! D. Best regards Mauve McDermott Head of HR
E. In the meantime, please don’t hesitate to reach out to me, either through email or by calling
me directly at 078 999 4142 if you have any questions or concerns. 8
A. Read the letter and answer these questions.
1. Rearrange the paragraphs to make a meaningful letter.
............................................................................................................................................................
2. What is the purpose of this letter?
............................................................................................................................................................
B. Read the reply to the job offer.
- decide whether the candidate accepts or refuses the job offer.
- discuss how many parts there are in the body of the letter. Dear Ms. McDermott,
I am writing to accept the position of Marketing Coordinator at ABC Media Agency. Thank you
for this opportunity. I look forward to joining the team.
I am impressed by the company s
’ commitment to innovation, the positive work environment, and
the opportunities for growth and development. I have carefully reviewed the employment
agreement and agree with the terms and conditions outlined. I will sign the agreement and
provide any additional documentation or information required for onboarding by August 10.
Please let me know if there are any final steps I need to take before that date. Thank you again. Best regards, James Watson awatson@gmail.com 078 990 2528 9 FUNCTIONAL LANGUAGE
Use the following phrases to complete the sentences below. find attached sincerely appreciate full details of the look forward to seeing dinh kem benefits time and via phone or email regret to inform excited to offer you c.cap consideration rat tiec phai thong bao su xem xet
1. I …………………………………. sincerely appreciate
the opportunity to be considered for this role and contribute to your team.
2. Thank you for your …………………………………. time and consideration
, and I wish you all the best. 3. regret to inform t
However, I …………………………………. hat I must decline this job offer.
4. We are …………………………………. excited to offer you
a full-time position as a Graphic Designer.
5. We …………………………………. look forward to seeing
how you will take our brand messaging to the next level.
6. Please …………………………………. find attached
an updated copy of the job description.
7. If you have any questions, please contact me directly …………………………………. via phone or email . 8. I have full details of the benefits w
attached the …………………………………. e offer for you to review. TASKS
A. Selig and Lind Solutions is a multinational electronics company. The company is looking
for a new Project Manager to form a team to conduct a survey of Selig and Lind’s
customer service to retail outlets in six major Asian countries. Write a job offer email to a
successful candidate, considering the following information:
• Candidate: Emma McGonagall
• Job position: Project Manager
• Company name: Selig and Lind • Start date: 25 August.
• Accept the offer by 15 August. • Sender Name: Emily Harris
• Sender Job title: Head of HR
• Mail/phone: emharris@seliglind.com/041 246 9273 10
B. You are Emma McGonagall. Write an email reply to the job offer above including the following information: • Open an email properly.
• Formally decline the job offer.
• Consider providing a reason. • Thank the employer. 1.4 SKILLS BANK
Sending a job offer email is one of the quickest ways to communicate important details –
including some key information such as salary, benefits, work schedule, and a few important next steps.
When sending an email to offer details, remember to use an email subject line that’s
informative and catchy. You can follow these suggestions: • Offer from [Company name] • [Company name] Job Offer
• Your offer from [Company name]
• Job offer from [Company name]
Some relevant documents that you can attach with the email:
• Job details (the job title, the start date, salary, etc.) • Compensation • Benefits
• Deadline for accepting/declining the offer • Your contact details
A job offer email doesn t’ need to be drafted by the legal department. However, many
employers choose to use a job offer email template to ensure consistency across the organization. 11
SUGGESTED TEMPLATE FOR A JOB OFFER EMAIL 12 SAMPLE EMAIL 13 1.5 WORD BANK advance (v) thuc day, tien bo entity (n) thực thể kinh tế backbone (n) xương s ng ố liability (n) ngh trách nhiệm pháp lý ị lực, sức mạnh charitable (adj)
nhân từ , khoan dung operation (n) vận hành conduct (v) thực hiện, tiến hành proprietorship (n) Quyền sỡ hữu corporation (n) +company scope (n)
phạm vi , tầm( kiến thức) engage (v) thuê sole (adj) duy nhất, độc nhất enterprise (n) sự nghiệp, stock (n)
vốn, cổ phần, kho dự trữ công trình KD REFLECTION
Discuss the following question with a partner or group.
What are the three key takeaways for you from this unit? 14
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