Unit 6 Vocabulary A) The verbs in the box are used when talking about risk. Check their meanings and put them under the appropriate heading in the table below. Predict Meet Assess Manage Identify Calculate Foresee Gauge Face Encounter Minimise Reduce Estimate Weigh up Measure Spread Evaluate Eliminated Prioritise Anticipate B) Match these sentences halves from newspaper extracts. 1-E 4-D 2-F 5-C 3-G 6-B 6-B 7-A C) These adjectives can be used with the word risk. Complete them with the missing vowels. 1.Slight 2.Great 3.Minuscule 4.Considerable 5.Potential 6.Immediate 7.High 8.Remote 9.Serious 10.Negligible 11.Significant 12.Imminent 13.Substantial 14.Terrible 15.Tremendous
Transcript
Unit 6
Vocabulary
A) The verbs in the box are used when talking about risk. Check their meanings and put them under the appropriate heading in the table below.
Predict Meet Assess ManageIdentify
CalculateForeseeGauge
FaceEncounterMinimise
Reduce
EstimateWeigh upMeasureSpread
EvaluateEliminatedPrioritise
Anticipate
B) Match these sentences halves from newspaper extracts.
1-E 4-D2-F 5-C3-G 6-B6-B7-A
C) These adjectives can be used with the word risk. Complete them with the missing vowels.
D) Of the adjectives in Exercise C, which describe:
1. A high level of risk? A low level?2. A possible future risk? A risk in the very near future?
High level of riskGreat, considerable, immediate, high, serious, significant, substantial, tremendous, imminent. Low level of riskMinuscule, negligible, slightPossible future risk PotentialRisk in the very near futureConsiderable
Listening
CD. 2.10 Listen to Steve Fowler, Managing Director of the Institute of Risk Management, and give one example of internal risk and one example of external risk. Internal risk: Injuries of employees within a factoryExternal risk: An earthquake or tsunami affecting a site or, alternatively, a change in exchange-rate mechanism
CD2.10 Listen again and complete the chart:RISK
HAZARD OPERATIONAL FINANCIAL STRATEGIC-fires -Information tech. -Non availability of
reasonably pricedcredit
-Area of competition-typhoons -Supply chain -Changing customer
demand-hurricanes -Employment risks -lack of liquidity -Availability new
technologies-floods -Changing social and
political pressures
CD2.11 Listen to the second part of the interview. What are the five key steps to risk management?First step: recognize the strategic objectives for your organization and the key processes that your organization uses.Step two: to identify what the risks affecting the organization might be. This should be done by looking at risk from two directions: top-down and bottom-up.Step three: to access and prioritize the risks identified at step two.Step four: mitigating riskStep five: after identifying strategic objectives, identifying risks, assessing and prioritizing risks and then mitigating those risks, it’s important that those actions are flowed back through to one’s strategic objectives again.
CD2.12 Listen to the final part. Which 3 examples does Steve mention of organizations or industries that failed to manage risk? What does he say about each example?
1) Banking industry worldwide: the systematic and reckless risk-taking undertaken by many banks caused massive implications for organizations/shareholders but also for worldwide public finances and economic growth.
2) American based clothing retailer: lost $45 million credit-card details, giving rise to an $80 million loss.3) The video cassette industry: ultimate risk of being replaced by another technology
Reading
C) Read the article again and answer these questions.1. How did the insurance industry start?Internationalization paved the way for the beginnings of the insurance industry back in the fourteenth century, as ship-owners sought to protect the increasing value of their ships and cargoes.
2. What do reinsurers do?They have to cover large risks so they need a secondary market to place them and that is was reinsurers do.
3. How do the two examples of major losses in paragraphs 7 and 8 illustrate this quote?‘Countries with an underdeveloped system of insurance suffer immeasurably more from major catastrophes than those were a good part of the material losses can be covered by professional risk carriers.’ If companies are not (good) insured, they have to fear a loss of a lot of money. So if there is a huge catastrophe, the companies with a good insurance will suffer less.
E) Find words in the article which mean the following.1. Product liability2. Damages3. Portfolio4. Accumulation 5. Catastrophe
F) Complete these sentences with words from Exercise E .1.damages2.liability3.catastrophe4.portfolio5.Accumulation
G) Without looking back at the article, match the words on the left to the phrases on the right to make expressions.
1.bear…the brunt2.spring…to mind3.meet…a need4.pave… the way5. spread … the risks
Language review
A) Which of these verbs strengthen the adjective which follow and which soften it?Strengthen: entirely, extremely, fully, highly, increasingly, totally, veryFollow: fairly, moderately, slightly, somewhatSoften: a bit, quite, rather, reasonably,
B) Complete these dialogues with a suitable adverb. 1. very2. very3. rather4. fully5. reasonably
Unit 7
Vocabulary
A) Give the opposite meaning for each of these objectives, using the prefixes in-,ir-,un-,il-,dis-. Then provide the noun forms.1.considerate 8.logical-> inconsiderate, consideration -> illogical, logic2.competent, 9.loyal-> incompetent, competency -> disloyal, loyalty3.creative 10.organised-> uncreative, creation -> disorganised, organisation4.diplomatic 11.decisive-> undiplomatic, diplomacy -> indecisive, decisiveness5.efficient 12.responsible-> inefficient, efficiency -> irresponsible, responsibility 6.flexible 13.sociable-> inflexible, flexibility -> unsocial, sociability7.inspiring 14.supportive->uninspiring, inspiration -> unsupportive, support
D) Match these pairs of contracting management styles.Autocratic DemocraticCentralising ControllingDirective democraticEmpowering delegatingHands-on Laissez-faireTask-orientated People-orientated
Listening
A) CD2.17 Laurie Mullins is the author of Management and Organisational Behaviour. Listen to the first part of the interview. Which two factors influence the managerial function today, and what are the two examples that Laurie gives of these factors.Factor 1: The ability to manage in an increasingly competitive, volatile, changing, business environment. Example: BRICK nationsFactor 2: Nowadays, the manager has to manage with an increasing rate of technical change.Example: ICT, e.g. the manager has to interact with staff who may not be at the same desk.
B) CD2.18 Listen to the second part. Which six managerial philosophies does Laurie mention.
1. consideration, trust, respect2. recognition and credit3. involvement and availability4. sense of justice5. positive action on an individual basis6. emphasis on end results
C) CD2.19 Listen to the final part and complete these abstracts.1. direction2. organized3. structure4. routine5. individual6. organisational 7. committed 8. self-direction9. self-control
Reading
G) Discuss these questions1. What are the advantages and disadvantages of each style of management described in the articles? The one is very decisive, impatient and bears a look that says that she is the boss … a very strict style. Not always good for the employeesThe second one is more relax and gives less deadlines. Disadvantage? people need deadlines to meet and sometimes it’s better to start at a certain point on the working floor.2. Would you rather work for a male or female manager? Describe your ideal manager. depends on their personality, someone who is good in giving instructions, who is good in their communication with the employees3. Do you agree with Buckmaster that most meetings are a waste of time? that’s personal, meetings are necessary to make good decisions, and to react on certain situation. Evaluation is a good thing.
Language Review
A) Look at the Jim Buckmaster article on page 145 and say what all the words in red refer to.I think these are all pronouns.
F) Write a profile of a manager you know or you are interested in.
Sales manager1) Resolve customer complaints regarding sales and service.2) Direct and coordinate activities involving sales of manufactured products, services, commodities, real estate
or other subjects of sale.3) Determine price schedules and discount rates.4) Direct, coordinate, and review activities in sales
SKILLS
A) CD2.20,2.21 Jason Harding, Sales Manager of the drinks company Quench Products, is giving a presentation to some customers. Listen to both parts of the presentation and answer these questions.1. What is the name of the product-> Quench Iced Tea2. When will it be launched-> early next March3. What are its USPs-> several flavours, several versions, healthy, thirst-quenching 4. What will the audience take away with them -> unique, delicious, thirst-quenching drink
