English - Business English

1. Business Writing .................................................................................................................................. 3

1. Writing a Curriculum Vitae.................................................................................................................... 3
2. Writing a business email....................................................................................................................... 3
3. Writing in a formal style ....................................................................................................................... 3
4. Writing a cover letter............................................................................................................................ 3
5. Writing a motivation letter ................................................................................................................... 5
2. Recruitment and selection................................................................................................................... 6
6. Recruitment......................................................................................................................................... 6
7. Selection procedures............................................................................................................................ 6
8. Describing personal and professional skills............................................................................................. 7
9. Job interview....................................................................................................................................... 8
10. What employers want......................................................................................................................... 8
3. Communication................................................................................................................................... 10
11. Desirable skills in communication....................................................................................................... 10
12. Negotiating....................................................................................................................................... 10
13. Agreement and disagreement............................................................................................................ 10
4. Marketing........................................................................................................................................... 12
14. What is marketing ........................................................................................................................... 12
15. Writing a sales letter......................................................................................................................... 12
16. Marketing concept........................................................................................................................... 12
17. Advertising victim............................................................................................................................. 13
18. The seven Ps ................................................................................................................................... 13
19. Markets and competitors.................................................................................................................. 14
5. Meetings............................................................................................................................................. 15
20. Participating in a meeting – useful phrases ........................................................................................ 15
21. Business meetings in English............................................................................................................. 15
22. Running a meeting............................................................................................................................ 16
23. Introductions................................................................................................................................... 17
24. Reviewing previous meetings............................................................................................................ 17
25. Starting a meeting ........................................................................................................................... 17
26. Discussing items .............................................................................................................................. 19
27. Closing a meeting ............................................................................................................................ 19
6. Business travel.................................................................................................................................... 20
28. Business across cultures ................................................................................................................... 20
29. Travelling on business....................................................................................................................... 20
7. Organisations and management styles............................................................................................. 21
30. Organisation types............................................................................................................................ 21
31. Management styles.......................................................................................................................... 21
8. Money................................................................................................................................................. 23
32. Sales and costs ............................................................................................................................... 23
33. Assets, liabilities and balance sheets ................................................................................................. 23
34. Writing a report .............................................................................................................................. 24

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9. Raising finance.................................................................................................................................... 26
35. Personal finance............................................................................................................................... 26
36. Graph analysis ................................................................................................................................. 26
10. Customer service.............................................................................................................................. 28
37. Writing a recommendation for a product or service ........................................................................... 28
38. Writing a complaint ......................................................................................................................... 28
39. Telephone conversations ................................................................................................................. 28
40. Writing a memo............................................................................................................................... 29
11. Presentations.................................................................................................................................... 31
41. Preparation and introduction for a presentation................................................................................. 31
42. Closing a presentation and follow-up questions ................................................................................. 32

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1. Business Writing

1. Writing a Curriculum Vitae

Curriculum Vitae (abbreviated to CV) is a very important document that can help you get a better job and higher
salary, so it is essential that you put an effort in writing a CV that will ensure that you stand out in a group of
applicants. There are three CV formats – Reverse-Chronological, Functional, and Combination, each of which has its
advantages and disadvantages and is used for a specific purpose. While the Reverse-Chronological format shows your
work history and Functional format highlights your skills and competencies, the Combination format serves both of
these functions. No matter which format you opt for, you should structure your CV into the following sections – the
Heading, which lists your basic information and contact details, employment history, listing your jobs starting from the
most recent one, and education history, which states the schools you went to and the degrees obtained. You should
also include any work-related volunteer experience, as well as professional and personal skills and competencies,
providing that you don’t make any false claims when doing so. As regards the style of your CV, bullet points are
preferred to full sentences, and it is advisable that you use clear and accurate language when describing your
responsibilities and duties regarding your work experience. Your CV should not be longer than 2 pages and should be
adapted for the job you are applying for. And of course, don’t forget to proofread your CV before sending it.

2. Writing a business email

When obtaining or maintaining business contacts, it is essential that we make the impression of a skilled professional.
This is why we should write emails that would convey a respectable image of ourselves. It is necessary that we keep
our writing clear and accurate, while following a standardised norm when sending business emails – we should clearly
separate the main parts – opening salutation, main body, and closing salutation. There are some common expressions
that are widely used in formal writing, and it is advisable that we include them in our emails. For example, common
opening expressions are ‘Dear Sir/Dear Madam’, ‘Dear Mr/Dear Ms (followed by the recipient’s last name), or ‘To
whom it may concern’, whereas some common closing expressions are ‘Yours sincerely’, ‘Yours faithfully’, ‘Kind
regards’, ‘Cordially’. These expressions help us show respect to our addressee and make the purpose of the email clear
and straightforward. After we have finished writing, we should always proofread – check for spelling and punctuation
errors we might have made, and correct them before sending the email. Remember, a well-written email can tell a lot
about your professionalism, so it is crucial that we write it carefully.

3. Writing in a formal style

Formal expression in business communication has a vital role in establishing the recipient’s respect, and is a useful tool
for demonstration your professional image. By writing to your business partners in a formal style, you show that you
are an educated person who is aware of how business communication works. Formal expression is used in all kinds of
business letters and emails, including complaints, recommendation letters, cover or motivational letters, proposals,
references, job applications, enquiries, etc. Its main properties are straightforwardness, accuracy, relevance,
objectivity, and complexity of expression. Moreover, business correspondence should be free from any grammatical or
spelling errors and proofread before sending. So as to make our business correspondence more formal, we should
avoid using informal words, contractions, abbreviations, clichés, idioms and imperatives.
However, an important thing to keep in mind is that by overusing formal diction we can sound “artificial”. To avoid
this, make sure you adapt your language to the purpose of writing and the addressee.

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4. Writing a cover letter

A cover letter is a document that is sent together with the CV when applying for a job.
The cover letter should include the following elements:

Your personal details (name, address, phone number)

The hiring manager’s name
Where you found the vacancy
Why you are suitable for the job
What you can do for the company
Closing statements

When writing a cover letter:

make it concise
paragraphs should be short and direct
back up some statements with statistics
choose a professional font
double-check the spelling and grammar
a cover letter template can be used
half of one page is enough (one page maximum)

Some of the things you shouldn’t do when writing cover letters are:

do not use the same cover letter for every job you apply for
never be too personal
do not talk about your wishes and hopes
do not mention your weaknesses
do not beg for the job

The structure of a cover letter

Opening the letter (first paragraph) – mention why you are getting in touch, where you saw the job advertised,
show the knowledge you have of the company and repeat how enthusiastic you are about that job.
Second paragraph – here you should sell yourself. Mention your strongest skills, qualifications, back up the
statements with the figures and other evidence you might have.
Third paragraph – emphasise what you can do for the company.
Fourth (last) paragraph – say that you would like to meet the employer, request the interview. Be sure to thank
the employer for their time and the consideration given to your application.
Do’s of cover letter writing

Use action verbs and active voice.

Use technical terms.

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 Tone has to be professional, direct and enthusiastic.
Paragraphs should be short.
The cover letter should be one page max.
Check for errors in spelling, grammar and punctuation.
A few more people should proofread your cover letter. Sometimes the spell check is not enough

Don’ts of the cover letter

Don’t use one cover letter template for all job applications.
Don’t misspell the name of the HR manager, company, organisation etc.
Don’t have any typos!
Don’t repeat what is already written in your CV.
If you are applying for a job in the US DO NOT include any photos, age, weight, height, marital status, age
and number of children, religion, and race. These questions are illegal in US.

5. Writing a motivation letter

There is a subtle difference between a cover letter and a motivation letter. A cover letter is sent together with the CV
when applying for a job; it is very formal, not personal, and should not contain your hopes and dreams. A motivation
letter is usually sent if you are applying to a university or a non-paid position. In US a motivation letter is called SOP
(statement of purpose).
There are a few tips for writing a motivation letter:

It should be personal
Give honest examples
Stay positive
Keep the company in focus
Proofreading
Don’t repeat in the motivation letter what is already said in the CV

Always have a checklist before sending the motivation letter. Always check if you mentioned clearly the position you
are applying for, if you mentioned why you fit the job in hand, etc.

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2. Recruitment and selection

6. Recruitment

Recruitment is the process of searching for prospective employees and stimulating and encouraging them to apply for
the job.
The recruitment process is time-consuming. The most important thing is to decide on a recruitment strategy.
The recruiter’s aim is to hire the best candidate. The recruiter should have enough time to decide on the best;
however, this shouldn’t last for months. If it does, the candidate might think you are not interested anymore and might
even find another job. The recruitment costs can be very high. You should set the budget from the very beginning and
then continue the selection process accordingly.
The perfect candidate should have the best skills, experience and qualifications. If the candidate isn’t culturally fit for
the company and vice versa, it can be a big problem. You should hire self-motivated candidates.
Writing a precise job description is essential, especially if you are planning to recruit people online. Writing exactly
what you want from a candidate will make your life easier.
Reviewing CVs

In order to separate relevant CVs from the irrelevant ones, you have to find the keywords for the job description.
This is a way to quickly go through a CV. A good CV won’t be longer than two pages. It should be detailed and easy
to read; after reading it you should know exactly what the candidate can do.
The biggest mistakes when writing a CV are the following:

Spelling and grammar mistakes

Unprofessionalism
Comparing profiles
Overqualified applicants

The final stage is the interview. If you want to conduct a great interview, the best idea is to have two people
conduct the interview. The interview should take place at a designated (quiet) location. Ask relevant questions
and at the end, if you are really satisfied, call and check their references.

7. Selection procedures

Selection refers to choosing the right people that have all the necessary qualifications for a particular job.
The selection process includes the following steps:

Preliminary interview
Selection tests
Employment interview
Reference and background checks
Selection decision
Physical examination
Job offer

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 Final selection

Employers use the preliminary interview before a job interview to get additional information about an applicant. Those
interviews are usually short and can be conducted on the phone. Applicants have to refer to the information from their
CV and the job application they’ve submitted. The following questions are usually asked at the preliminary interview:

Tell me about yourself.

Describe your work history.
What are your salary expectations?
Why are you interested in this job?

Selection tests - The candidates who have passed the preliminary interview are summoned for testing. This stage
involves numerous tests: the aptitude test, intelligence test, personality test, achievement test, integrity test (testing
the loyalty and honesty of applicants), simulation test (applicants perform tasks they would perform on the job),
graphology test, medical test, computer-based tests, etc.
Employment interview - This is a formal and serious interview that can get you the job. If the company called you for
the second interview, they are probably interested in you.
Reference and background checks - These tests are conducted in order to verify the information provided by the
candidates. This part can be done via telephone.
Selection decision - This is where the most important decision is made. There is no place for snap judgements,
prejudice or stereotyping.
Physical examination - After the selection decision has been made, the candidate undergoes a physical test.
Job offer - The next stage is offering the job to the best candidate.

8. Describing personal and professional skills

Personal skills are very important in both personal and business life. A person with excellent personal skills has a great
relationship with colleagues, the employer, the clients, etc. These people are responsible and meet all the deadlines;
they simply love their work. They are self-motivated and passionate; there are no limits for them, and they definitely
fill the office with a positive attitude.
The most often used personal skills in CVs are the following:

Critical thinking
Dependability
Flexibility
Interpersonal skills
Motivation

Professional skills

In addition to personal skills, a successful employee should possess professional skills, as well. Some of these skills
are:

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 Communication skills
Decision making skills
Leadership skills
Organisational skills
Time-management skills
Stress management skills

9. Job interview

Preparing for a job interview is so much more than just reading job interview questions and learning possible answers.
Here are some tips for the candidates.

Spend some time learning about the company. Conduct a thorough research, using numerous resources, including
Google, LinkedIn, forums, Facebook, etc.
Every successful company has a blog you should read carefully.
Before the meeting try to find the list of the people you are going to talk to.
Every company conducts different types of interviews; ask the recruiter what kind of interview you can expect in
order to prepare for it.
Even though candidates are probably familiar with the questions asked at interviews, it is a good thing to revise
your answers concerning your skills, accomplishments creativity and so on, no matter how sure you are of
yourself.
Every interviewer will ask the question ’tell me about yourself’, which the candidates should successfully answer
in order to complete the first part of the interview.
When talking about accomplishments candidates should support their answers with figures, percentages and
show how responsible they are.
Practice answering questions in front of the mirror and answer them aloud.
Practice answering questions with a friend. There are many sites with mock interview questions.
The outfit for the interview has to be perfect. If there is a business casual dress code your look should be
conservative for that first interview.
Some things you think are not important can be crucial. Shine your shoes, manicure the nails. These two things
people notice first.
You should have five printed CV copies.
Prepare a reference list; maybe they will ask for it, maybe not, but it’s better to have it prepared.
Keep your bag clean and your personal belongings organised.
And the most important thing...get some sleep.

10. What employers want

There are some questions at job interviews when you are not sure what to say and why they are asked at the first
place. Those questions do not seem hard and tricky but they actually are, pretty much. Some of those questions are:

Can you tell me something about yourself?

How would you describe yourself in one word?
What’s your biggest weakness?
What are your hobbies?
Have you ever been fired?

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All these questions are asked in order to find out more about the candidates’ personality, if there are any strengths,
weaknesses, if the candidates are lying, if they are team players etc. Many books have been written about job
interview questions and it would be good to read some of them and be well-prepared for that occasion.

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3. Communication

11. Desirable skills in communication

In today’s business world, it is impossible to survive without effective business communication skills. Important
communication skills are: listening skills (attentive and reflection), nonverbal communication, clarity and concision
(verbal communication), friendliness (interpersonal skills), feedback (motivational skills, team building, teamwork
skills).

12. Negotiating

Negotiation is a method by which people settle differences. Someone who takes part in negotiations is a negotiator.
Someone who is good at getting what they want is a tough negotiator. Another word for ’negotiation’ is bargaining.
Another name for ’negotiator’ is bargainer. Bargaining is often used with the following words: tactic, chip, tool, point,
power, process. These are the stages of negotiation:

Preparation
Discussion
Clarification of goals
Negotiate towards a win-win outcome
Agreement
Implementation of a course of action

The most important stage of any negotiation, meeting, teaching etc. is preparation. Before any negotiation you should
pay attention to cultural differences (if dealing with people from another culture). Then, decide on your priorities and
try to estimate the needs and objectives of the other side. You should always prepare a fall-back position, i.e. an
alternative or a second-choice option. The key skills in the discussion stage are questioning, listening and clarifying.
This is followed by the win-win stage. Win-win means that both sides benefit from the agreement (a win-win situation
). The win-win situation can be reached in several ways:

probing (asking the right questions)

proposal and counter-proposal
trade-off (a series of concessions in exchange for concessions from the other side is a series of trade-offs).

And finally, reaching an agreement! An agreement of any kind is a deal. When reaching an agreement, we talk about
clinching a deal or closing a deal.

13. Agreement and disagreement

If we want to speak any language fluently, we have to understand agreement and disagreement phrases. Strong

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agreement phrases are ‘You’re perfectly right, I couldn’t agree more, Precisely, Exactly, Absolutely’. Mild agreement
phrases are ‘You may be right there, That’s true, I suppose, I suppose so. Disagreement is also classified into two types.
Strong disagreement phrases are: I’m sorry, but that’s out of the question, I think you’re wrong, Of course not, That’s
absurd, That’s ridiculous. Mild disagreement phrases are: That’s not really how I see it, I don’t really agree, I can’t
really go along with you there, I think you’re mistaken, I’m afraid I can’t agree with you there. The phrase afford to
differ is a specific one; it means people continue to hold different opinions but see no point in continuing to argue
about them. Agreeing, disagreeing, compromise phrases are not used only in Business English; they are common
expressions used on a daily basis.

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4. Marketing

14. What is marketing

Marketing is a great mixture of many fields, including public relations, sales promotion, advertising, social media,
pricing, distribution and many other. Marketing should result in a customer who is ready to buy. The most important
’tools’ of a great marketing programme include: examining the methods that have been most productive for your
company, taking a calculated look at other businesses, paying attention to the budget of those successful companies. It
is advisable to search for a similar successful company in another region and thoroughly study their activities. This
approach is called ’benchmarking’. After you have examined similar businesses for good marketing ideas, take a look at
dissimilar ones.
When tough times come, and, unfortunately, they always do, there are some steps that can help smart marketers get
through this tough period. Those steps are the following: control your own costs, involve your staff (some solutions
may surprise you), speak to your customers (maybe they have some great ideas) and keep marketing, never stop doing
that! However, if your costs are out of control and you are losing a lot of money, shut down, sell or convert your
business into something that can earn money. These steps have to be used in order. If you don’t control your costs
first, you’ll lose your money.

15. Writing a sales letter

A sales letter initiates or closes a sale. Sales letters are used by salespeople to announce sales, confirm appointments,
congratulate salespeople on their success, etc. A sales letter has to persuade the reader that he or she will benefit
from purchasing the product or service. Sales letters may be personal letters or duplicated letters (circulars)
distributed to a large number of private individuals and firms. Many sales letters are prepared in series of two, three or
more letters (sales series). The purpose of the sales letter is to hold the attention of the reader, who becomes eager to
continue reading to find out what is interesting enough to deserve this special presentation. A writer of a sales letter
should:

use an effective attention-getting opening.

develop a central selling point. Be vivid and specific in talking up the product.
present proofs of your statements.
close by moving the reader to specific action.

There are a few basic steps in writing a sales letter.

Step 1: In this part of the letter you state your purpose.

Step 2: The second part of the letter gives details or background information.
Step 3: The last part of the letter is a statement of desired action as a summary reminding the recipient of the
letter’s general nature.

16. Marketing concept

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 All companies have different ideas and philosophies. The aim of a marketing philosophy is to satisfy the wants and
needs of the customers while meeting the organisation’s goals. The point is to understand the customers before
making a product or design for them. However, in reality, customers’ needs and wants are easily forgotten.
A successful marketing concept must comprise certain elements:

Every employee in an organisation is a marketer

Internal communication

There are several types of marketing concepts:

The production concept represents the idea that consumers want products that are inexpensive and easily
accessible. The perfect example of a production concept are companies that manufacture their products
overseas.
The product concept states that customers or consumers prefer products of the highest quality, features and
performance. Two companies that use this concept are Apple and Google.
The selling concept

If customers are left to themselves, they will not make the effort to buy the company's products. Therefore, companies
must be aggressive in pushing their sales. Great examples are companies selling life insurance and vacuum cleaners.
The purpose of societal marketing concept is to meet both company and consumer needs while supporting the
long-term well-being of society. This concept becomes widely accepted in modern society. The accent is put on the
environment, healthy food, eco-friendly beauty products etc.

17. Advertising victim

Spending a lot of money on advertising can be risky. Advertising is not always the best marketing tactic. Companies like
Toyota, Sony, Coca Cola are in the media in the long run and spend fortunes on advertising. Your product can be
advertised but in order to do that you need to be a market leader and a big spender. According to Dan Kennedy, ’’you
are an advertising victim when you write out a cheque for placing an ad and you have no idea whether it was a good
business decision or not.’’

18. The seven Ps

There are seven Ps of the marketing mix: product, price, place, promotion, people, process and physical evidence. A
product does not have to be tangible (for example insurance). The perfect product provides value for the customer.
The price positions the company in the marketplace. The more you charge, the more value or quality your customers
will expect for their money.
The third P in the marketing mix is the place where you sell your product or service. A change of place can lead to an
increase in sales. You can sell your product in many different places. Some surveys have shown that delivery is the
most important criterion when choosing a supplier. Promotion refers to the manner in which businesses tell customers
about their products and services, and how they market and sell those products and services. Companies have
different ways of advertising, promoting and selling things. But, whatever method they use, one day it will just stop
working. Sometimes you will know why it has stopped working, sometimes you won’t. In that case, new marketing,

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 sales and advertising approaches have to be developed. Many customers are emotionally connected to staff members.
They cannot separate the product from the employee. People in your company are important. The customers’
satisfaction depends on them. The process of delivering the product and the behaviour of those people who deliver it
are very important to customer satisfaction. If you want to keep your customers happy, pay attention to waiting times,
the helpfulness of the staff, the information they give to customers and how they provide it, etc.
Physical evidence is very important when purchasing products. The uncertainty of buying online can be reduced by
helping potential customers ’see’ the product. Each of these elements is essential to success. No element can be
considered separately. If you want your company to be successful, you have to use them all.

19. Markets and competitors

A market is a public place where buyers and sellers make transactions. If you decide to start your business and you
don’t understand your competitors, you are taking a big risk. Market research can help you in that case. There are
three ways to conduct market research:

desk research – using existing information from the Internet

field research – surveys, questionnaires
commercial agencies – hiring external organisations to carry out the research for you

Market analysis will show you how suitable a particular market is for your business and can also be used to evaluate
the current market or to have a look at new ones.
In order to place yourself on the market you should identify your target market. The target market is the specific
population you want to market your products to.
Identifying your competition and staying informed about their products and services is the key to remaining
competitive on the market and is crucial to the survival of any business.
There are a few types of competitors:

direct competitors
indirect competitors
replacement competitors

Direct competitors are companies that offer products and services that are basically the same. Indirect competitors
are businesses that offer slightly different products and services but have the same target customers. A replacement
competitor is another company that offers a product or service the consumer could use instead of your product or
service.

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5. Meetings

20. Participating in a meeting – useful phrases

Here are some phrases that are typically used in meetings:

For opening the meeting: Good morning everyone. If we are all here, let's get started.
When having a meeting with new participants: Before we get started, please join me in welcoming Milica Petrović
from our office in Serbia.
When stating the principal objectives of a meeting: We are here today to discuss the upcoming changes. We will
have three new colleagues. They require training as soon as possible, let’s see who...
When giving apologies for someone who is absent: I’m afraid Sarah can’t be with us today. She is having an
unexpected meeting with our Japanese partners. She will join us later.
If you have regular meetings, it is advisable to read the minutes from the last meeting: First, let's go over the
minutes from our last meeting which was held last Friday. Milica could you please read the notes.
When dealing with recent developments: Jack, can you tell us how the XYZ project is progressing?
Use these phrases to move forward to the more important issues of the meeting: I'd like to thank you all for
coming. Shall we get down to business?
Introducing the agenda: Have you all received a copy of the agenda? Good. Shall we take the points in order?
It is important to keep track of what is going on at the meeting. It is advisable to allocate note taking: Jelena,
would you mind taking notes today?
If there is no routine to your meetings, just point out the basic rules for discussion: I suggest we go round the
table first to hear what everyone has to say. Let’s get everyone’s feedback. After that, we'll take a vote.
Closing an item: I think that covers the important points of our year-end financial analysis.
The following phrases help you transition to the next item on the agenda: Let's move onto the next item.
Some of the following phrases are used when taking over the chair’s role: I'd like to hand over to Don, who’s
going to discuss the negotiation process with our partners from Vienna.
The main points of the meeting should be summarised at the end: To sum up, we’ve negotiated with AOL. The
merging process is going to start in September. Also, we have decided to relocate a few departments and hire
additional staff.
When you finish the meeting, arrange everything for the next one, if necessary: Before we all leave, I would like to
fix the next meeting. What about the following Friday? How is that?
It is always nice to thank everyone for attending the meeting: Thank you all for your participation and I'll see you
next Friday.
The meeting can be closed with a simple statement: The meeting is closed.

21. Business meetings in English

Here are some things you should focus on before having a meeting:

Meet the other attendees in advance.

Do your homework.
Dress appropriately.
Look your best.
Introduce yourself to the other attendees.
Don’t forget to smile.

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 Make sure you stay on topic.
Watch your time.
Don’t leave the meeting right away.
Learn from your mistakes.
Take home something valuable.

There are six, general types of meetings:

Status update meetings

Information sharing meetings
Decision making meetings
Problem solving meetings
Innovation meetings
Team building meetings

Status update meetings are the most common type of meetings. These are regular team and project meetings where
the employees are updated on progress, future plans, etc.
Presentations, panel debates, keynotes and lectures are all examples of information sharing meetings.
A decision making meeting includes information gathering and sharing, brainstorming solutions, evaluating options,
voting.
Problem solving meetings are the most complex ones. They can solve specific and general problems. Firstly, it is
necessary to identify, brainstorm and evaluate the solutions to a problem.
Innovation meetings are innovative and creative, as they allow people to think outside the box, brainstorm and share
ideas.
Team building meetings include all-hands meetings, kick-off meetings, team building outings and corporate events.

22. Running a meeting

The person who controls the meeting is the chairperson. Members at the meeting mustn’t interrupt each other and if
they do that, the chair must react. The aim of the members is to reach a consensus; otherwise, a vote is taken. The
majority wins the vote. In order to have a successful meeting, one should comply with the following rules:

Make sure you really need a meeting before scheduling it.

Every meeting should have a purpose.
Do not schedule more time than needed.
Start on time.
End on time.
Include only the necessary people.
A few minutes of chit-chat at the beginning of the meeting is allowed.
If you want people to read something before the meeting, send the material on time.
Book the meeting space ahead of time.
Set an agenda and share it at the beginning of the meeting.
Don’t give people all the handouts at the beginning of the meeting.
DO NOT check your phone or email during the meeting.
If someone is speaking too much, cut him or her, politely.
If someone is not on the topic of discussion you will have to rein it in.

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 If meeting lasts more than an hour, schedule time for breaks.
Watch your body language.
If necessary, assign a note-taker.
Ban technology.

Action minutes record the decisions reached at the meeting and the actions to be taken, rather than the preceding
discussion. This is the most common form of minutes.

23. Introductions

A successful introduction at a meeting should make the participants comfortable talking to each other. They will be
more relaxed and will probably make decisions faster. The role of the chairperson is important here. How the chairman
handles those opening minutes makes a big difference in the ensuing conversation. He or she is the one who must
make sure everyone gets involved.
Each participant should pose the following questions:

Why are we having this meeting?

What is the goal of the meeting?
What is our role in the decision-making?
Why should I invest the time?

In order to answer these questions, one should apply the following strategy:

Inform
Excite
Empower
Involve

There are many phrases that can help you excel at introductions.

24. Reviewing previous meetings

Every business meeting should start with the minutes from the last meeting, which should be shared with all board
members. Meeting minutes have a general template. There are usually ten elements that should be covered: the name
of the organisation/group, the topic of the meeting, the date of the meeting, names of all the participants at the
meeting and their positions, apologies for non-attendance with an explanation, agenda item one which are usually the
minutes of the previous meeting, agenda item two, agenda item three and so on, date of the next meeting and other
issues.

25. Starting a meeting

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 All the participants at a meeting should be comfortable presenting their point of view. They should feel welcome,
relaxed, included and informed. At the meeting:

there has to be someone to welcome the attendees.

no one should be ignored. This is against all rules.
all the participants need to have the agenda and necessary papers.
everyone should introduce themselves. The way you introduce yourself tells a lot about you as a person.
the members should be told what the meeting is about.
the ground rules have to be set.

Examples of meeting rules

People should speak ‘through the chair’ (raise their hand if they want to say something).
The participants should never interrupt each other.
Everybody should stick to the item on the agenda.
The attendees should not talk amongst themselves.
Always respect what other people have to say. Do not make faces when other people speak, it is extremely
childish and rude.
Start and finish the meeting on time.

More tips
 
At the beginning of every meeting it is important to:

have a clear agenda with rough timing.

briefly introduce each agenda item.
not to assume people know what you are talking about.
to keep an eye on time.
to stick to the agenda.
to stop private conversations.

Obligations of the chair are the following:

The chair shouldn’t use his/her position as an opportunity to impose his/her views. The chair is there to facilitate
the meeting, not dominate it.
Listen to other people.
All views must be heard, even those you do not agree with.

There are three missteps at the beginning of meetings:

Misstep 1: not identifying and agreeing on the purpose.

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 Misstep 2: starting the meeting without identifying and agreeing on a plan for the meeting.
Misstep 3: starting the meeting without a clear agreement on decision making.

26. Discussing items

The chair is the person who should help the meeting participants reach decisions. The chair should listen to the
discussion and jot down the key points. If people agree on something you might say: ’It seems we agreed that...’ But, if
people cannot agree, the chair should outline the different perspectives and present them clearly at the meeting.
Before you continue with the meeting, make sure you have appointed the person(s) who will carry out what has been
decided upon. Otherwise, nothing will happen or the person who usually does everything will have one more task to
do.
You will sometimes have to deal with know-it-alls. Again, the chair is the person who should handle them. He/she must
not allow difficult people run the meeting. When two people start a discussion, listen carefully to both of them,
summarise their points and ask other people what they think.
Hedging is a discussion technique. Hedging is when you avoid disagreeing directly. To hedge you may say: ’I hear where
you're coming from on this, but we must remember this is an advertising agency, not a car factory.’
There are some phrases that can be used when we want to check the understanding, or to interrupt or refer back. If
you want to interrupt someone politely you can say: ’If I can just stop you for a moment...’, to refer back to what was
said earlier: ’As we were saying earlier ...’, to check that you understand what someone has said: ’If I understand (you)
correctly, ...’.

27. Closing a meeting

The chairperson is the one to end a meeting. Before dismissing the attendees, several things should be done:

5 to 10 minutes should be allotted to questions and discussions.

All decisions should be recorded. This provides great backup.
The assigned tasks and their deadlines should be reviewed.
ALWAYS thank everyone for attending the meeting and encourage them to contact you should they have any
further questions.

Special attention needs to paid to the phenomenon called the Meeting After the Meeting (MATM). This is the meeting
that is organised after the ’real’ meeting.
In order to successfully end a meeting, everyone at the meeting should know when the meeting is expected to end. At
some meetings, it is a good idea to use a visible timer. Never waste time at meetings. If everything on the agenda is
solved so should be the meeting. People should be allowed to leave the meeting. If it’s really necessary, set the alarm.
When the bell rings, the meeting is over. If there is no agenda, the meeting cannot be effective. Prepare the agenda in
advance. One of the best ways to finish the meeting is to simply excuse yourself. It works most of the times.

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6. Business travel

28. Business across cultures

This lesson provides some very useful information about the importance of knowing what to expect when dealing with
people from different countries. The fact is that nowadays almost every business tends to expand across the borders,
thus, a 21st-century businessperson, who is internationally oriented, needs to develop the skills of a good
communicator. In order for them to become fully equipped for such endeavour, they must understand the specifics of
business etiquette and protocol, and acquire cross-cultural competencies. Business etiquette defines the mastery of
social skills. A person who respects the cultural traits of a foreign country and understands the story and significance
behind a simple greeting, is to become a respected and trustworthy partner soon. If they continue educating
themselves about the importance of being punctual, responsible, respectful and clear, they would build international
relationships easily and successfully. And last but not least, if they realise on time that every future success relies on
their own will and preparedness to learn, plan, reflect and respect others, they would be able to grow not only
internationally but globally.

29. Travelling on business

Business people travel a lot, attending conferences and meetings in different countries all over the world. Here are
some common words and terms associated with travelling: check in (when you arrive and register at the hotel),
reservation (reservation is when you book something in advance, when something is kept for you, it can be a table, a
hotel room, a seat etc.), single room (for one person), double room (for two people), and a suite (several rooms joined
together); you should also know the difference between facilities (gym, swimming pool, spa) and services (services are
provided by people), as well as the difference between restaurant and room service, as well as what room features
are. The dialogues above are great examples you can use when travelling on business.

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7. Organisations and management styles

30. Organisation types

Business organisation refers to how a business is structured.

Business refers to the activity of producing, buying and selling goods and services.
A business, company, firm or a concern sells goods or services.

The adjective ’corporate’ can be used in the following combinations: corporate culture, corporate ladder, corporate
headquarters, corporate image, corporate profits.
Commerce refers to the exchange of goods, services or something of value, between businesses or entities.
The adjective ’commercial’ describes business activities that make money:

commercial airline
commercial disaster
commercial artist
commercial land
commercial television

Enterprise is used in a positive way to talk about business, emphasising the use of money to take risks.
A self-employed individual works for himself instead of working for an employer.
The terms sole owner and sole proprietor are used in both British and American English. Sole trader cannot be used in
American English.
Partnership is an arrangement in which two or more individuals share the profits and liabilities of a business venture.
A limited liability company (LLC) is a corporate structure whereby the members of the company can’t be personally
responsible for the company’s debts and liabilities.
’In most cases ’mutuals’ are used to describe an insurance company. When a person buys insurance with a company,
that person becomes a member. Profits are owned by the members, there are no shareholders.
Organisations whose task is to help the sick and the poor or encourage artistic activities are called non-profit
organisations (BrE) or not-for-profit organizations (AmE). They are also called charities.

31. Management styles

Throughout history, there have been many famous leaders who used different styles of management.

Autocratic style

Managers don’t care what the subordinates have to say; they ignore their suggestions and ideas.
The managers eventually make all the decisions. The autocratic style is typical of sports coaches, military and

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 political leaders

Paternalistic style

Paternalistic leaders decide what’s best for their employees and the organisation.
Although the managers consider the employees’ ideas and suggestions, they make the final decision.

 
Democratic style

Managers like to hear what their subordinates think and wait for their feedback.
Before making any decisions, a superior will listen to what the employees have to say.
Famous companies that reflect democratic principles are Google, Genentech, Mayo Clinic and Amazon.com.

Laissez-faire style

The French phrase ‘laissez-faire’ loosely translates as ‘let it be’ or ‘leave it alone’. Here the managers leave
their subordinates to make all the decisions and fulfil their responsibilities the way they choose. The
employees make all the decisions. Famous laissez-faire leaders were Ronald Reagan, Donna Karan, etc.

Management by walking around

The managers walk around and listen and talk to their employees. Leaders act like mentors. The problem with this
style is that it is time-consuming. The managers pay more attention to the opinion of their subordinates than to
that of the customers and other stakeholders.

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8. Money

32. Sales and costs

A sale is a transaction between two parties where by the buyer receives goods that can be both tangible and
intangible, services and/or assets in exchange of money. The sales process includes seven stages:

Prospecting and qualifying - A way of finding and qualifying potential customers.

Pre-approach or preparation - Salesperson conducts research about his potential prospect.
Approach - This is a face-to-face phase or first impression phase. A salesperson talks to a customer. This phase is
very important if you want to build your client’s trust.
Presentation - The salesperson listens to all the wants and needs of the potential customer.
Handling objections - After the presentation, the customer might have some objections. Experienced salespeople
will be prepared for all the questions.
Closing the sale - When the customer is finally sure that a certain product will meet his or her needs and wants,
the salesperson closes by agreeing on the terms of the sale.
Follow-up - This can be a thank-you note or calling a customer in order to check if the product was safely
delivered.

Cost is the money spent by a company. There are three types of costs: variable, fixed and mixed.

Variable cost - Variable costs are costs of labour or materials that change with sales. Variable costs may include
wages, utilities, materials that are used in production, delivery charges, shipping charges.
Fixed costs - Fixed costs don’t change with the change in activity. Examples of fixed costs are rent, buildings,
insurance, etc. These are expenses companies have to pay.
Mixed Costs - A mixed cost is the cost that has both a fixed and variable cost. An example of mixed costs is the
electricity bill.

The important phrases to remember are the following:

When a company makes a profit, it means the product is profitable or profit-making.

The break-even point is reached when total costs and total sales are equal. Total costs are expenses and total
sales is the revenue.
If a company makes a loss, the product is loss-making.
If a product is a loss leader it means it is offered below cost in hope of attracting customers that will still buy
profitable products.
If a product is the money-spinner or cash cow it earns a lot of money.

33. Assets, liabilities and balance sheets

Assets are all the items that have monetary value and are owned by a business. They can be tangible and intangible.

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 Tangible assets are buildings, land, cash, equipment, etc.
Intangible assets are the thing you cannot ’see’, i.e. trademarks, copyrights, goodwill.
Current assets are assets that will be turned into cash within the next twelve months.
Fixed assets are assets that a company owns, i.e. all tangible assets including the building, the land, the
equipment, furniture etc. On the other hand, there are intangible fixed assets and those are trademarks,
copyrights, patents etc. Fixed assets have a limited life value and eventually lose that value, i.e. they depreciate.
Both amortisation and depreciation are a way of recovering the costs. The only difference is that amortisation
refers to intangible assets, while depreciation refers to tangible assets.

Liabilities are a company’s debt to lenders, suppliers, tax authorities, etc. They are very often recognised as ’payables’.
There are few types of liabilities:

Current liabilities or short term liabilities

Long term liabilities
Contingent liabilities

A current liability is the company’s debt or some obligations that should be paid within a year.
Long term liabilities are liabilities that a company OWES more than one year.
Contingent liabilities are possible obligations the company may owe.
The balance sheet provides information on what the company owns (its assets), what it owes (its liabilities) and the
value of the business to its stockholders (the shareholders' equity) as of a specific date.

34. Writing a report

The structure of the report is as follows:

Title page
Executive summary
Table of contents
Introduction
Body
Conclusion
Reference list
Appendix

The title page identifies the report. In this part you write the report title, your name and submission date.
Executive summary - All the report’s essential information is listed in the executive summary. The executive summary
outlines the subject matter, the background problems, the methods of analysis, findings, recommendations etc.
Table of contents - A table of contents should be included in longer reports so as to help the reader to easily find the
required information. All headings and subheadings should be included in the table of contents. They should be
written exactly as they appear in the report; number them exactly as in the report and list their page numbers.
Introduction - The introduction should state the purpose, the background, methods of investigation, and the scope.

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Purpose - This part should inform the reader about relevant issues.
The background part gives information on the problem Here you can use secondary data, i.e. data provided by other
people.
Body of the report - In this part you describe and discuss the main findings in the report. This is usually the longest
part of the report. The report body presents the information from your research. The information should be organised
in a logical manner. It is best to use bulleted or numbered lists. The conclusion in a report is supported by evidence.
The conclusion must not contain any new information. Present Simple is often used in the conclusion.
Reference list - It is very important to include a reference list or a bibliography, i.e. the list of all the references you
used for writing the report.
Appendix - An appendix contains information that is not crucial to the findings, but can support your analysis (figures,
tables, charts, graphs, statistics, questionnaires, maps, drawings, letters etc.).

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9. Raising finance

35. Personal finance

Personal finance is the way people handle their money. There are two ways people handle their finances – traditional
banking and internet banking. They are very different and have their advantages and disadvantages. The main
differences refer to a physical part (conducting your transactions in banks versus online). Another difference refers to
e-security threat, which is not found in traditional banking. Also, if you travel a lot on business, you won’t be able to
control your finances so often. Above all, traditional banking is expensive, since you are required to pay fees for certain
transactions, while e-banking avoids bank charges. Customer service is also very important when deciding on the type
of banking. In traditional banking the staff may have to attend several customers at a time, while in internet banking
clients don’t have to wait in queues to carry out their transactions. The only big threat to internet banking are hackers.
Financial centres are areas of cities where most banks and other financial institutions are located. The most famous
financial centres are located in London (The City or the Square Mile), New York (Wall Street) and Tokyo.
Financial centres gather investors and companies that need their investment. A speculator is an investor who risks
losses for the possibility of quick profit.
A stock market is a place where bonds and shares are bought and sold (stock exchange).
Other financial instruments are:

commercial paper
bonds
currencies
commodities

Commercial paper is an unsecured, short-term debt instrument issued by a financial institution.

A bond is a fixed income investment in which an investor loans money to an entity (typically corporate or
governmental) which borrows the funds for a defined period of time at a variable or fixed interest rate.
Currency is a generally accepted form of money, including coins and paper notes, which is issued by a government and
circulated within an economy. A market for the trading of currencies is called the foreign exchange market (forex).
Commodities – A commodity is food, metal, or another fixed physical substance that investors buy or sell, usually via
futures contracts.

36. Graph analysis

The most often used graphs in the business world are bar graphs, line graphs and pie charts.
Bar graphs show numbers that don’t depend on each other; bars are used to compare data among categories. A bar
graph can be run horizontally and vertically. The longer the bar, the greater its value.

Vertical bar graph is the most common type of bar graph. When describing a vertical graph, the first paragraph is
usually short; it should explain what the chart shows, as well as when and where it describes it. Then, you should
describe the trends you have identified. Use the numbers from the chart. To sum up, highlight the most important
things. There is no need to explain the chart. Just describe WHAT happened and keep the focus on pure facts.
Horizontal bar charts are effective when presenting data and different categories with long titles, and when there
are many different categories but not enough space to fit all the columns.

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A line graph shows how the information changes continuously over time. The line graph can be used to compare
events, information, etc.
A pie graph displays data, information or statistics in a very easy-to-read format that reminds us of a pie. Pie charts are
useful if you want visually to summarise a large data set, however, the problem is they do not show exact values.

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10. Customer service

37. Writing a recommendation for a product or service

A client, vendor or other business associate can write a recommendation for a service or product. The
recommendation can be written in the form of a traditional ’snail mail’ or via email.
A traditional letter should of course start with contact information and the contact information of the person to whom
the recommendation is sent.
When sending an email, ’Reference’ or ’Recommendation’ should be included in the subject line, in addition to the
person’s or company’s name.
Both letter and email should begin with an appropriate salutation and end with a professional one.
The most important part of the letter and email is the body. This part should provide detailed examples of the high
quality of the product or service.

38. Writing a complaint

Complaints are written for many reasons. We have all written at least one complaint. Reasons for a complaint can
include delays, wrong shipments, wrong number of ordered goods, damaged goods, missing parts, wrong parts etc.
The main point of a complaint letter is to provide detailed, clear explanation or description of what is wrong with the
product, service or delivery. The more details are mentioned, the better. Always give the exact information of the
model, a serial number, mention when the product was delivered, provide the invoice.
Describe what has caused the inconvenience and what steps you expect the company to take to briefly solve the
problem or to make a refund (don’t forget to mention the refund at the end!).
The language and tone in a complaint letter should never be rude but firm and, above all, polite. Some of the words
that should never be mentioned are disgusted and enraged. Companies care about their customers and will probably
do everything their customers ask from them.
The person who reads the letter is not your enemy; they are your friend and will do everything to help you because it’s
their job.
The phrases that usually relax the person reading the letter are, ’I realise that mistakes happen...’, ’I’m not blaming
anyone....’.
When replying to a complaint you must do that with care and tact to keep the customer happy. If the complaint is
justified, then you have to offer an apology and explain what the company’s next steps would be. Point out that
mistakes don’t happen often.
Remember that customers whose problems are quickly resolved become even more loyal.

39. Telephone conversations

It seems easy but making a phone call can be quite difficult if you don’t know what phrases to use. There are some
useful phrasal verbs that can help.

Hold on – wait a little bit.

Hang on – also means to wait.
Hang up – end the call, put the phone down.
Hang up and ring off mean the same.
The opposite of ring off is ring up and it means to make a call.

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 Pick up the phone – means to answer the phone when it rings.
Put through – means that you will be connected to another telephone.
If you can’t get through it means you can’t be connected to the person you wanted to talk to.
Call back means to return a phone call.

The level of formality is very important. If you are too formal people will not feel comfortable and relaxed. If you are
too informal people might think you are impolite. You have to find the line between formal and informal.
If you want to be polite use the following words: please, would, could, thank you, appreciate etc. Everyday words as
okay, bye can also be used.
If you don’t understand the person you are talking to, you can say:

’Could you repeat that, please?’

’Could you speak a little louder, please?’
’Would you mind spelling the last name you said, please?’

If you cannot hear the speaker, you can say ’The line is very bad today’.
The best way to remember all the useful phrases while telephoning is to practise.

40. Writing a memo

A memorandum or memo is a note to a group of people in which they are told what to do or are informed about a
new company policy.
The questions that should be answered before writing a memo are the following:

What is the purpose of the memo you are about to write and what message will it send to its recipients?
Why is this information important to the recipients?
What are the most important facts the recipients need to know?
Are there any actions the recipients need to take? If the answer is yes, what exactly do they need to do?
Do the recipients need to have any contact names, URLs, statistics in order to take those actions?
Do the recipients need any attachments (forms, reports)?

Remember the following:

The text of the memo should be short.

The memo should not be longer than one page.
Explanations should be short and simple.

The elements of the memo are:

To: fill in recipient name(s)

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 From: sender's full name
Date: date memo is sent
RE: specific subject line
CC: names of people who will be copied on the email.

The body of the memo has three components:

Introduction
Recommendations or purpose
Conclusion

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11. Presentations

41. Preparation and introduction for a presentation

The most important part of every presentation is the time you spend on it. If you are well-prepared you will definitely
boost your confidence.
The elements of presentation preparation are:

The objective
The subject
The audience
The place
Time of day
Length of talk

The objective - Before any presentation the most important questions you should ask yourself are: WHY should you
give the presentation? What is the purpose and the objective of the presentation? What is the outcome the audience
(people who will listen your presentation) expects?
The subject - The subject of your talk usually comes from the objective but not always. The subject and the objective
do not have to be the same. For example, an invitation group can give you a subject or you can choose the subject but
with some limitations.
The audience - Getting to know the audience that will attend your presentation is very important. It’s not the same if
you are giving the presentation to a board of directors or company new-comers.
The place - It would be great if you could see the venue before the presentation. It is an opportunity to hear your voice
and to get to know the surroundings.
The time - The time is very important. It’s best to give your presentation in the morning. Early afternoon is not
suitable, while evening hours are OK if the presentation doesn’t last too long. People will probably have to leave
before the presentation ends.
Length of talk - Find out how long you need to talk and be sure to check if this includes or excludes time for questions.
Do’s and don’t’s of delivering a presentation

Do’s

The audience doesn’t want to listen to you talk about your company.
Find a story to illustrate what you want to say.
At the beginning tell your audience not to take notes and that your presentation will be posted right after
the presentation.
Speak slowly so everybody can understand what you are talking about and use more pictures and videos in
your presentations.
Slides should be seen from the back of the room and made in the 16:9 format. Use a dark background on
your slide because it is easier to read.
Use a spell checker on all slides. It is very unprofessional to have typos in your presentation.
At the end show the slide with the key questions to encourage further discussion.

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 Don’t’s

Don’t talk for more than 10 minutes before engaging the audience.
Never read word by word from the slide.
Don’t speak with a too low or monotonous voice and don’t talk too fast.
Don’t use acronyms people don’t understand. If you use acronyms, explain them.
Don’t start talking immediately after the audience has seen the slide.
Never use fonts that are difficult to read.
Don’t use photos that don’t illustrate what you are talking about.
Don’t use any effects in the presentation.
Don’t use the corporate slide template on every slide. Use it only on the last slide, together with your name
and contact details.
Don’t finish the presentation by simply summarising what you have just said.

42. Closing a presentation and follow-up questions

The way you finish your presentation is more important than the way you start it. Here are some tips on how you can
do that.

Use an inspirational quote: It’s best to use a quote the audience is familiar with. It’s never smart to use the ones
people won’t understand.
Review the main point: Refresh the audience’s memory by quickly reviewing what you were talking about.
Tell a story: You can end the presentation by telling a story. It can be your personal story or one you’d heard from
a friend, colleague, etc. The only important thing is to send the right message.
A call to action: If a presenter wants to convince people to do something then he/she can end the presentation
with a call to action. A call to action encourages people to do what the presenter has been talking about. Be as
specific as possible.
Be emotional: The tone of our voice shows your concern for the audience. If your tone is monotonous, you will
bore the audience. It is advisable to make a pause before emphasising words or concepts.
Thank everyone: Always thank the audience at the end. It shows that you deeply care about them.

Handling follow-up questions after a presentation

There are several tips on how to handle follow-up questions.

Listen carefully to all the questions.

Rephrase the questions using your own words.
Avoid aggressive forms.
If you don’t know the answer to a question (it happens), you can say: That is difficult to answer in just a few
words.
Sometimes, when you don’t know the answer, you can say that there is another person who can answer it.
If somebody asks something irrelevant just say: Can we talk about that on another occasion? It is not the topic
today.
If it’s impossible to answer a question within the time frame (for example 10 minutes), you can say: Perhaps,
we could deal with that later.
Stay in control.
Never allow one or two people to dominate.

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Always stay polite.
ALWAYS thank the audience at the end!

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