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Business English News 44 – Covid-19: Economic Impact

Business English, Business English Vocabulary, Business News, ESL Podcast / May 24, 2020

The world first heard about cases of a novel coronavirus on December 31st, 2019. In just two short months, the World Health Organization had declared a global pandemic. The impact on the world economy was instantaneous, as the World Economic Forum explains:

The COVID-19 pandemic has hit global trade and investment at an unprecedented speed and scale. Multinational companies faced an initial supply shock, then a demand shock as more and more countries ordered people to stay at home. Governments, businesses and individual consumers suddenly struggled to procure basic products and materials, and were forced to confront the fragility of the modern supply chain.

Now, as we approach summer, supply chains still don’t feel completely secure. Economic forecasts look pretty gloomy as nations emerging from lockdown attempt to kickstart their economies. The stock market, however, has provided some surprises amid the crisis.

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BEP 358 – English for Purchasing 4: Negotiating Terms

Business English, Negotiating, Purchasing, Sales English / May 10, 2020

Welcome back to Business English Pod for today’s lesson on English for purchasing and negotiating price and terms.

We’ve talked a lot about how important it is to find the right vendor. They can make or break your business. That’s why we put so much work into meeting, interviewing, screening, and qualifying potential vendors. But once you’ve found the right vendor, you still need to actually make a deal. Specifically, you need to agree on price and terms.

To set yourself up for success, it’s a good idea to do some research and preparation. If you know what things should cost, and you know what you need from a deal, and you can anticipate what the vendor needs, then you’ll be in a good position to negotiate.

In your discussion, you’ll likely make price comparisons in your efforts to get a deal. You’ll have to propose terms to the vendor, and show consideration for their position in the negotiation. Because things like delivery and quality are so important, you’ll also want to discuss penalties. And, like any negotiation, at some point you’ll probably suggest a compromise. With these skills, you should be able to get a price and terms that work for you.

In today’s business English conversation, we’ll hear Adam, a purchasing manager who works for a company that makes fitness equipment called XFit. He’s been talking with Jenny, a sales rep for a manufacturer that can make pulleys for XFit’s equipment. XFit has chosen Jenny’s company as a vendor, so Adam now has to negotiate the price and terms.

Listening Questions

1. What is the first issue that Adam brings up in the negotiation?
2. What does Adam first propose for delivery terms?
3. What is Adam willing to agree to if Jenny agrees to his suggestion about penalties?

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BEP 357 – English for Purchasing 3: Vendor Qualification

Business English, Purchasing, Sales English / April 26, 2020

Welcome back to Business English Pod for today’s lesson on English for purchasing and qualifying vendors.

Whether you’re buying raw materials, equipment, or services, purchasing decisions are high stakes. Make a bad decision, and it’ll cost you time, money, and goodwill. Make the right decision, and you can increase your revenue, improve operations, and gain more customers.

Because purchasing decisions are so important, companies invest a lot of energy into the process of vendor selection. In previous lessons, we’ve looked at sourcing suppliers and discussing vendor criteria. Once you’ve got a clear idea of what you need and you’ve had some discussions with possible vendors, then you need to qualify them.

Basically, vendor qualification is about talking to a vendor to make sure they’re the right fit. And that’s best done during a visit to their facilities. Vendor qualification includes asking for documentation and getting samples, as proof of quality and a clean track record. As you talk, you may try to identify any inconsistencies between what you have heard and what you see. It’s also important to ensure comprehensive quality management and to probe for proof of consistency.

In today’s dialog, we’ll hear Adam, a purchasing manager who works for xFit, a company that makes fitness equipment. Adam has just taken a tour of a potential vendor’s factory. He’s talking with the manufacturer’s representative Jenny, and asking questions to see if her company is a good fit to supply parts for xFit’s exercise equipment.

Listening Questions

1. Why does Adam want product samples?
2. Why does Adam mention that he didn’t see the equipment or a set-up for the “powder coating” process?
3. What does Adam want Jenny to provide in order to show proof of consistency?

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Skills 360 – English Interview Tips 3: Career Goals

Business English, Business Skills 360, ESL Podcast, Job Interview in English / April 14, 2020

Welcome back to Business English Skills 360 for today’s lesson for the final part of our series on English interview skills.

In previous lessons, we’ve gone over some of the fundamental questions about who you are and what you’ve done. Today I want to take a closer look at talking about your career goals and researching prospective employers. Interviewers don’t just want to know whether you’ve got the skills, personality, and qualifications. They also want to know that you’re a good fit, and that they are a good fit for you.

One important question you need to be ready for in an interview in English is “why are you leaving your current position?” This question makes a lot of people squirm. But it’s actually an opportunity to talk about growth and change. Nobody stays at the same job their entire life. And this question isn’t necessarily fishing for problems in your past.

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Skills 360 – English Interview Tips 2: Questions and Answers

Business English, Business Skills 360, ESL Podcast, Job Interview in English / April 1, 2020

Welcome back to Skills 360 for today’s lesson on tips for succeeding in a job interview in English.

In our last lesson, we talked about preparation for introducing yourself and questions about strengths and weaknesses. That’s all about you as a person, or your character. In this lesson, I’d like to home in on what you’ve done, or your actions and behavior.

The first big question you’ll get about what you have done pertains to achievements. As in, “what achievements are you most proud of?” Or “tell us about a recent achievement?”

Now, when you think back on your accomplishments, what should you choose to discuss? Well, rather than boasting about purely individual accomplishments, think of something that connects to the bigger picture. Or state why your accomplishment helped the company.

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