Management English for Professionals and Executives

BEP 370 – English for Startups 4: Discussing a Pivot

Welcome back to Business English Pod for today’s lesson on English for startups and discussing a pivot.

There are lots of business ideas and tech innovations that sound like good ideas. But the real test of an idea is the marketplace. People might like your idea, but will they buy it? Will enough people buy it to make the business viable? Even if you’ve done your market research, sometimes consumer feedback tells you it just won’t work.

This happens all the time with startups. And the smart ones don’t keep throwing good money after bad. Nor do they give up altogether. Instead, they pivot. When you pivot, you shift your business model or strategy based on the feedback you get from the market. That’s how Odeo, a podcasting platform, became Twitter. And that’s how YouTube gave up on video-dating and became a massively popular video-sharing site.

Pivoting well isn’t easy. It takes some tough conversations about new goals for the company and new needs. And one of the toughest aspects of the pivot is sacrificing some of your old ideas. You also have to remember it’s not just about you and your ideas. When you pivot, you need to consider your team and your investors as well.

In today’s dialog, we’ll listen to a conversation between a young entrepreneur named Quinn and his mentor, Kira. Quinn has been working hard to get his online payments business going. Now he sees that it would be wise to pivot his focus from individual consumers to business customers.

Listening Questions

1. What does Quinn say is the company’s most pressing need?
2. What is the old idea that Quinn needs to sacrifice to pivot his business?
3. What does Quinn say his investors need to understand?

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Skills 360 – Adapting to Change (Part 2)

Business English, Business Skills 360, Management English / January 31, 2021

Welcome back to the Business English Skills 360 podcast for today’s lesson on how to adapt to an ever-changing world.

Our world has been undergoing massive changes. And it’s not just the global pandemic that has wreaked havoc on the economy. There’s political turmoil, rapidly evolving technology, climate change, and calls for greater social justice. Our work and workplaces look and feel different because of this. There’s less travel, increased automation, more remote work, and moves toward greater equity and inclusion.

Nobody’s untouched by these changes. But not everybody is equally adept at dealing with them. Now, more than ever, we need to learn to accept, if not embrace, volatility, uncertainty and ambiguity. If you’re waiting for the world to go back to the way it was in 2019, you’re going to be sorely disappointed.

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Skills 360 – Adapting to Change (Part 1)

Business English, Business Skills 360, ESL Podcast, Management English / January 18, 2021

Welcome back to the Business English Skills 360 podcast for today’s lesson on adapting to change.

You might have heard that “change is the only constant,” meaning nothing ever stays the same. That’s easy to say, but not always easy to deal with. Many of us like certainty and stability. We get comfortable and we want to stay that way. But being comfortable shouldn’t mean being complacent, especially in today’s world.

Change doesn’t always happen at the same pace. These days, change seems so fast. And the COVID-19 pandemic has introduced new uncertainties and has accelerated certain trends, like the move toward remote work. Many industries have been battered. And the fact that people are tired of the word “pivot” only demonstrates how the pace of change has accelerated.

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BEP 369 – Scenario Planning 3: Discussing Strategic Responses

Advanced, Business English, English for Meetings, Management English / January 6, 2021

Welcome back to Business English Pod for today’s lesson on talking about strategic responses during a scenario planning meeting in English.

It’s impossible to predict the future exactly. But that doesn’t mean we shouldn’t bother trying. After all, we don’t create business strategies based only on today’s realities. We need to think about what will or might happen and how we will respond to these possible events.

So if we’ve done the work of laying out future scenarios, then how exactly do we plan our strategic responses? To start, you’ll need to choose an overall strategic posture. Are you going to take the lead in your industry? Or will you sit back and respond to things as they happen?

Your strategic posture depends in part on the possible impacts of future events and your choice of strategies. You need to discuss these impacts in order to choose the best course of action out of several possibilities. So this means you’ll be doing a lot of discussing alternative strategies.

In strategic planning, we often say that you can have anything you want, but you can’t have everything you want. For this reason, you will have to ask your team to prioritize, or decide which strategies are most important. And to make those decisions about priorities, you’ll need to discuss hypothetical results of different actions.

In today’s dialog, we’ll rejoin a meeting of executives at a large retail firm. Gwen is based in the US headquarters. She’s discussing strategies with Natasha and Daniel, who head up the firm’s operations in another country. The group is discussing strategic responses to future scenarios they’ve already mapped out.

Listening Questions

1. What strategy does Daniel suggest for their larger urban stores?
2. What does Natasha suggest instead of making big cuts to their operations?
3. What does Gwen say could be the ultimate result of the changes they’re discussing?

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BEP 368 – Scenario Planning 2: Discussing Possible Scenarios

Advanced, Business English, English for Meetings, Management English / December 7, 2020

Welcome back to Business English Pod for today’s lesson on discussing future scenarios in a planning meeting in English.

Business planning doesn’t look like it used to. The world today holds so many surprises and so much uncertainty. There is constant and unrelenting change, and sometimes it feels like we’re just trying to keep up.

In these circumstances, it’s a good idea to map out possible future scenarios. This type of exercise is often built on several key uncertainties that you’ve already identified. Mapping out the different scenarios is necessary before you can begin to develop strategies to respond to these possible future situations.

One thing you’ll do when you discuss scenarios is make predictions. In some cases, you’ll be able to make predictions with a great degree of certainty. In others, you’ll have to check whether you’re more certain than you should be. In particular, you might be affected by availability bias, where the available information leads you to make predictions with too much certainty.

Because we can’t always be certain, we find ourselves discussing the likelihood of certain events, or how probably they are. It can be tempting at this point to begin evaluating possible strategies, but it’s best to resist this and focus on the scenarios first. And throughout, you should watch out for assumptions that might cloud your thinking, or make you think unclearly.

In today’s dialog, we’ll rejoin a discussion at a large retail firm. Natasha and Daniel are executives discussing their country’s situation with Gwen, who is based in the U.S. The group is mapping out scenarios based on the situation they’ve already discussed.

Listening Questions

1. What does Natasha predict with certainty?
2. According to Daniel, how likely is it that sales will go down 30%?
3. What assumption does Natasha call Daniel out on?

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