Transcript Revision
Revision
Important things to know !!!!
Units 6 - 11
Unit 6 : Entertaining
It makes part of successful deals, positive
attitude towards your partners
Different cultures have different ideas
about entertaining
It is a good opportunity to know your
partner better
America and Europe : business people meet
to do a deal
Asia : to establish a relationship
while entertaining a business partner
one must think of the etiquette :
behaviour ( a certain code ),
unwritten rules of behaviour
the etiquette is made of norms :
norms are rules or guidelines which
say what is acceptable in certain
situations
two good ways to start socialising
are:
greetings :social ritual used to show
attention or to confirm friendship
small talk : it is a chatter about
ordinary things, everyday things
greetings and small talk are good icebreakers when you feel unconfortable
in a presence of a stranger
Corporate entertaining is present in
the modern business world :
it is a well organised plan which involves
socialising with business partners as a part
of successful business deals
some companies spend a lot of money on
this in the Customer Relationship
Management Programme
this program helps a company to keep an
old client
Unit 7 : Marketing
It is a business of advertising, promoting
and selling a product ; marketing attracts
customers and persuades them to buy a
product
You must find out what customers need /
like = meet their needs
Marketing involves: all activities from
production to selling, indetifying
customers,developing/promoting products,
minimizing the costs/maximizing the
returns to make a profit ( it means selling )
The marketing mix or the four Ps
are:
Product : deciding what product or
service to sell
Price : setting the attractive price
Place : find suitable distribution
Promotion : acctivities used to
support the product
From the customers point of view
there are four Cs :
Customer solution : offering the
right product to satisfy particular
customer needs
Customer cost : the price paid
directly
Convenience : distributing the
product
Communication : informed about
the product
The key to successful marketing :
a good creative campaign
clear marketing messages
customers orientation
Unit 8 : Planning
is a resource allocation and involves
organising limited resources such as time,
money and expertise
It consists of a plan for using different
resources to achieve goals for the future
Planning also means time management (
suggest you to make a list, persue tasks
one by one, delegate, not to be a
perfectionist in everything )
Planning introduces the use of
Gantt chart :
an excellent tool for a complex
project involving many people and
tasks
it is a diagram that shows the
different stages of a project
it is made of horizontal bars which
show the relationship between task,
activities and resources
Another type of planning is called
contingency planning :
a management plan in case of
emergency ( an event or situation
that might happen in the future );
prepares for the worst
Conclusion :
planning is all about good strategy :
companies make long term plans
about the future, they predict
competitors’ activities and company’s
overall plan of development
Unit 9 : Managing people
Theory X : the idea that people
dislike work and will do anything to
avoid it
Theory Y : everybody has the
potential to find satisfation in work
Theory W : ‘whiplash’, it is the idea
that most work is done under
conditions of slavery
Different cultures have different
ways of managing people:
Some prefer frequent consultations in
decision-making ( all members contribute
to this process )= management by
consensus
Some encourage workers to use their own
initiative = empowerment ( it is used to
establish better relationships with
customenrs and is linked to the idea of
delegation = handing a task over to a
subordiante ( give someone the authority
to untertake specific activities or decisions )
In managing people the managers
need to be good at :
Observing : they must understand the
behaviour, the strengths and weaknesses of
their staff
Listening : in order to learn staff’s problems
Asking questions : to find needed
information
Speaking : in order to communicate their
objectives clearly to all their staff
Unit 10 : Conflict
Can be productive as wellas unproductive
Productive : there are often a number of
different ideas and conflict is inevitable but
different ideas lead to the best choice
Unproductive : arguments between the
colleagues or managers can become
personal and can cost a company big
money and time ( e.g. employees can even
sue their company for unfair dismissal )
Labour-management conflict can
take the form of :
Strikes and go-slows ( a go-slow is a
form of protest where workers deliberately
slow down in order to cause problems )
Many countires use arbitration between
the two sides : it is a form of alternative
conflict resolution in which the parties (
opposite sides ) present their cases to a
neutral third party and agree to respect
his or her decision
More and more companies in the US
use ADR ro resolve conflicts : ADR is
alternative dispute resolution which
includes methods other than lawsuits
( these methods include mediation,
arbitration and settlement (
negotiation ) and are less formal and
cheaper than court process
German managers : very direct and they
speak their mind, they concentrate on the
objective
American : have a talent of communicating,
use small talk and smile very often, the
atmosphere is informal, attitude – ‘time is
money’
Spanih negotiators usually interrupt you in
the middle of the sentence, they use
spontaneous ideas and quick thinking
Unit 11 : New business
represent the modern way of doing
business
face-to-face contact is of vital importance
video-conferencing is effective but
expensive
relationship building is important for mutual
benefits : clients and suppliers are called
PARTNERS-they are in business together
TQM – Total Quality Management :
makes an important part of modern
business
it motivates, supports and enables
quality management ( seek
continuous improvements, focuses on
the needs and expectations of
internal and external customers )
one important objective of TQM is
complete elimination of product
defects
Another form of new business is
start-ups ( a one person operation
often started by someone who gained
knowledge as a salaried employee in
an organisation ) ; this person
decides to start a new company on
his/her own
Start up is also a term for any newly
formed company
Factors which encourage new
business :
flexible labour market where there
are not only low taxes on companies
but also low social costs
skilled staff ( a good national
educational system and good
company training of employees )
low interest rates
cheap rents for office and factory
space
a stable economy ( business people
are able to plan better )
good transport links
training courses
High enemployment
may mean two things : you can pay
lower wages to your workers ; you
may not be able to find the people
with the skills you want
Strong currency
means that imported raw materials
are cheaper but your exports will be
more expensive
Government grants
may be used to try to persuade
companies to set up in areas with
high unemployment but if the area is
unsuitable for other reasons these
grants will not be enough
Language
the importance of language is setting
up abroad
Unit 12 : Products
when we think of products we usually
think of tangible product ; the
product we can see or touch ; we
think of physical objects
we have just-in-time ( JIT ) ordering
of components and TQM
JIT – just-in-time
is a management philosophy that
reduces manufacturing waste by
producing the right part in the right
place at the right time
no products are manufactured until
they are needed
coordinates demand and supply
Economies in different parts of the
world are at different stages of
development :
in newly industrialised countires ( in Asia )
more and more people are now able to
afford consumer durables ( washing
machines ) for the first time ( companies
that sell these products can make large
amounts of money )
in the West, the market for television or
washing machines is basically one of
replacement ( the products are not
repaired but replaced )
In this situation, design, brand name,
or image become more important (
e.g. some luxury cars become more
affordable and manufacturers have to
stay ahead of the game to avoid their
brands being perceived as ordinary )
Consumerism – a modern force
that manufacturers have to take
into account
It is an increased consumption of goods
seen as economically beneficial
It is also a term used to describe the
effects of identifying personal happiness
with purchasing material possessions
There is some difference in the way people
preceived the products in the past and the
way we see them today: the cars,
televisions and washing machines of the
1950s had more style and they were made
to last, but modern products are techically
better now.
When a new product is developed it
must be tested:
Animals are very often used to test
products which causes protests in some
parts of the world
Some people volunteer for medicine
testing which is not without
consequences for their health (in
return, they receive money)
The present trend is to move production
to some Asian countries which offer the
cheapest labour force