Video Vocab is a series of English videos explaining the meaning of important business terms related to many of the topics that are part of every day business conversations.
Today we’re looking at basic vocabulary related to finance and accounting. First we’ll hear a short article introducing the vocabulary. Then we’ll go over each word in detail, with some example sentences to show how you can use the words. At the end of the video you’ll have a chance to review and practice your new vocabulary.
Usually we think of blockage in terms of stumbling blocks, or obstacles, to agreement. But blockage can also be any impediment to creating maximum value. In other words, we’re not only interested in removing obstacles to a deal but also in removing obstacles to a better deal. Doing this successfully often requires thinking outside the box, that is, thinking creatively.
So in this episode, we’ll study overcoming barriers. In particular, we’ll focus on identifying stumbling blocks, exploring alternatives, and moving towards agreement.
Recall that Peter, owner of Textacular, has been trying to buy Maxine’s company, Gamester, as part of his strategy to roll up other small businesses. His ultimate goal is to increase the value of his own operation so he can sell it to a larger company for a handsome profit. In previous episodes, Peter had tried to acquire Maxine’s company, but talks reached an impasse when Maxine wouldn’t climb down from or reduce her price of 15 million.
In today’s listening, Peter calls Maxine back to restart talks. As you listen, focus on the language they use to remove obstacles to agreement.
Listening Questions
1. How does Peter suggest restarting talks with Maxine?
2. What does Peter identifying as the main stumbling block to a deal?
3. What does Peter mean when he says, “It’s not a question of growth for us, it’s a question of survival.”
4. What is Peter’s key insight that enables Maxine and him to overcome their blockage?
In this Business English Podcast episode, we’ll study the skills and language of bargaining. This podcast is part of an ongoing series on negotiation skills.
Bargaining is the process of swapping or trading concessions – in other words, “You give me something, and I’ll give you something in return.” This is also called making offers and counter-offers. The goal is to reach a compromise – a result in which both sides benefit.
Today’s listening focuses on a typical bargaining situation. Paul is a purchasing manager for a construction company. Tony is a supplier of anchor bolts – large metal screws used in building projects. They are in the middle of a telephone conversation in which they are negotiating an order. Tony has already opened the discussion and clarified Paul’s basic needs. Now they need to agree on the quantity and price.
As you listen, focus on the language that they use to swap concessions and reach a deal.
Listening Questions:
1. What does Paul mean when he says he’ll be “throwing more business your way?”
2. Tony suggests a way of helping Paul get a higher discount. What is it?
3. When Tony says to Paul, “You drive a hard bargain!” what does he mean?
Doing business across borders requires precise coordination, especially in the era of “just-in-time” delivery where goods need to be shipped to the customer at exact times. When a product is made in one country, assembled in another, and sold in a third, the companies involved need to be in constant communication from start to finish. Making sure that orders are made and delivered on time is an essential part of international business, and a lot of the monitoring will be done by phone. So, in this episode we’re going to look at ways to check on the progress of an order over the telephone.
A while back in BEP 92 & 93 we met Bill, a buyer for Bancroft’s, a chain of women’s clothing stores in the U.S. He’s placed a large order with Viva, an Italian fashion company, which is being coordinated by Catherine Traynor, Foxtrot’s shipping manager. Foxtrot is Viva’s U.S. distributor.
It’s now several months later and the order is due to be delivered. But Bill has just received a call from Bancroft’s warehouse to let him know that only half the order has been delivered so far. Now he’s calling Catherine to check on the rest of the delivery.
Listening Questions:
1. How does Catherine let Bill know she’s looking for information about his order?
2. Where is the second part of the shipment?
3. What does Catherine offer to do to avoid separate deliveries in future?
In this Business English Podcast, we’ll be looking at the language used to make appointments on the telephone.
We live in the era of remote communication: teleconferencing, videoconferencing, and online meetings. More and more group efforts are getting done from a distance. In theory, at least, it’s possible to work closely with anyone in the world without leaving our desks. Nevertheless, there’s something about a face-to-face meeting that no virtual one can replace. We still need to shake people’s hands, read their body language, and make personal connections. That’s why – even today – one of the commonest uses for the telephone is to make appointments. In this episode, we’ll take a close look at making appointments on the phone.
Gordon Knight works for Bridgewater, a U.S. pension fund. (Pension funds are institutions that invest retirement savings.) At a recent conference, Gordon met Penny Yip, a senior financial analyst for the Asia Markets office of Solomon-Clyde. Solomon is a boutique – or small and specialized – global investment company that deals only with institutional customers – very large clients, like Bridgewater. Now, Gordon plans to be in Malaysia, and he phones Penny to set up an appointment to discuss possibilities for investment.
Listening Questions:
1. Where and when does Gordon say he met Penny?
2. When does Gordon suggest meeting with Penny?
3. Why does he want to meet with Penny?
4. What time do they finally agree on?
