ДЕЛОВОЙ АНГЛИЙСКИЙ ЯЗЫК. И.И. Климова, А.Ю. Широких, Д.Г. Васьбиева Б А К А Л А В Р И А Т - PDF

Б А К А Л А В Р И А Т ФГОБУ ВО «Финансовый университет при Правительстве Российской Федерации» И.И. Климова, А.Ю. Широких, Д.Г. Васьбиева ДЕЛОВОЙ АНГЛИЙСКИЙ ЯЗЫК Рекомендовано кафедрой лингвистики и профессиональной

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Б А К А Л А В Р И А Т ФГОБУ ВО «Финансовый университет при Правительстве Российской Федерации» И.И. Климова, А.Ю. Широких, Д.Г. Васьбиева ДЕЛОВОЙ АНГЛИЙСКИЙ ЯЗЫК Рекомендовано кафедрой лингвистики и профессиональной коммуникации в области экономики в качестве учебника для студентов-бакалавров, обучающихся по направлению «Экономика» КНОРУС МОСКВА 2017 УДК (075.8) ББК 81.2Англ-923я73 К49 Рецензенты: O.V. Kulikova, PhD in Philology, Professor, the Head of the Department of Linguistics and Professional Communication in the sphere of Economics (Moscow State Linguistic University), G.N. Goumovskaya, PhD in Philology, Professor (Moscow State Pedagogical University), M.V. Melnichuk, PhD in Economics, Professor, the Head of the Department Foreign Languages-3 (Financial University under the Government of the Russian Federation), Yu.E. Ivanova, PhD in Philology, Associate Professor (Financial University under the Government of the Russian Federation) К49 Климова, Ирина Иосифовна. Деловой английский язык : учебник / И.И. Климова, А.Ю. Широких, Д.Г. Васьбиева. Москва : КНОРУС, с. (Бакалавриат). ISBN DOI / The textbook contains different types of tasks for reading, speaking and translation, as well as vocabulary, terminology and grammar exercises. The rapidly developing sphere of financial services dictates the necessity to know and to use financial terminology in order to communicate with foreign partners. The tasks may help develop different types of competencies, which include language, and compensatory competencies. The tasks enlarge the stock of lexical items used by students in their speech and develop critical thinking skills. The suggested pattern of focusing on speech exercises, which starts with merely learning particular terms, encourages students to use these terms in oral and written speech, develops communicative competency, which, in its turn, is vitally important for communication in different fields of professional and business situations. The book is aimed at students of Economics who study Business English. The textbook should also be of great interest to any specialists or professionals who want to improve their language skills. УДК (075.8) ББК 81.2Англ-923я73 Климова Ирина Иосифовна Широких Анна Юрьевна Васьбиева Динара Гиниятулловна Деловой английский язык Сертификат соответствия РОСС RU.АГ51.Н03820 от Изд Подписано в печать Формат 60 90/16. Гарнитура «Newton». Печать офсетная. Усл. печ. л. 17,5. Уч.-изд. л. 10,5. Тираж 500 экз. ООО «Издательство «КноРус» , г. Москва, ул. Кедрова, д. 14, корп. 2. Тел.: Отпечатано в ПАО «Т8 Издательские Технологии» , г. Москва, Волгоградский проспект, д. 42, корп. 5. Тел.: Климова И.И., Широких А.Ю., Васьбиева Д.Г., 2017 ISBN ООО «Издательство «КноРус», 2017 CONTENTS Introduction Unit 1. Culture and Ethics in Finance Unit 2. Managing a Firm in the Global Economy Unit 3. An Epitome of a Crisis Unit 4. Origins of Accounting and Major Guidelines Unit 5. Banks and Banking Industry Unit 6. A CFO s Guide to Leadership Unit 7. Principles of Corporate Finance Unit 8. Public Finance Primer Business Skills Unit 9. Networking Unit 10. Presentations Unit 11. Meetings Unit 12. Conference Calls Culture Files Appendix Appendix Key References INTRODUCTION What is Business English? Business English is a textbook intended for students majoring in Finance and Economics. It takes examples of hands-on experience and focuses on improving students ability to communicate in English in a wide range of business situations. It consists of 12 units each featuring a topic of great interest to any specialist who is involved in international business and wants to improve their communication skills in this area. The textbook features a range of authentic resource material, reflecting the latest trends in the business world, particularly in the financial and economic sphere. Everybody studying Business English will become fluent and confident in using the language of business, and, as a result, increase their career prospects. The authors would like to thank Philip Gill for his invaluable comments on the earlier versions of this material and contribution to the initial research. What is in the units? The textbook is comprised of a variety of interesting and challenging activities for discussing the business topic of the unit and exchanging opinions with the peers. Reading Vocabulary You will read authentic texts on financial and economic issues. You will develop your reading skills and learn essential business vocabulary. You will also be able to brainstorm the ideas and problems addressed in the texts. You will learn important new words and phrases which you can use while doing the tasks in the unit. 4 Grammar Business skills This section focuses on common problem areas of grammar. Each unit provides a review of key grammar items. You will become more proficient in your use of language. You will develop essential business communication skills, such as networking, giving presentations, arranging and taking part in meetings and conference calls. Each Business skill unit contains a Useful language box, business practice and writing section. 5 Unit 1 CULTURE AND ETHICS IN FINANCE 6 LEAD-IN The once fashionable notion that business ethics could be relegated toward the bottom of the corporate things to do list exists no longer. Like the roaring 1920s, the roaring 1990s ended with a crash, and amid the carnage we awoke to a blizzard of sensational headlines: WorldCom facing Charges of Fraud; How Enron Bosses Created a Culture of Pushing Limits; Andersen s wrong turns Grew Obvious; A Stellar Reputation Shattered, to recall just a few. Ethical failures became facts of the new century, not just textbook possibilities. Terry Thomas, John R. Schermerhorn, Jr., and John W. Dienhart Strategic leadership of ethical behavior in business Task 1 How do you understand the term ethical failure in business? Do you think ethics and morality can be compatible with business activities? Do business scandals often happen in your country? What causes them as a rule? In general, is business in your country more or less ethical than in the rest of the world? What are the main moral dilemmas businesses in your country face? Task 2 Read the joke and say what ethical dilemma lies in the punchline. A defendant in a lawsuit involving large sums of money was talking to his lawyer. If I lose the case, I ll be ruined. It s in judge s hands now, said the lawyer. Would it help if I sent the judge a box of cigars? Oh, no! This judge is a stickler on ethical behavior. A stunt like that would prejudice him against you. He might even hold you in contempt of the court. In fact, you should not even smile at the judge. Within the course of time, the judge rendered a decision in favor of the defendant. As the defendant left the courthouse, he said to his lawyer, Thanks for the tip about cigars. It worked! I am sure we would have lost the case if you had sent them. But, I did send them. What? You did? said the lawyer, incredulously. Yes. That s how we won the case. I don t understand, said the lawyer. It s easy. I sent the cigars to the judge, but enclosed the plaintiff s business card. Task 3 Read the following quotations. Which of them do you agree with? Choose one quotation and speculate on its meaning. a. They who are of the opinion that money will do everything, may very well be suspected to do everything for money. George Savile b. There is no money in poetry, but then there is no poetry in money, either. Robert Graves c. The real measure of your wealth is how much you would be worth if you lost all your money. Unknown author d. Only when the last tree has died and the last river been poisoned and the last fish been caught will we realize we cannot eat money. Cree Indian Proverb e. I would like to live as a poor man with lots of money. Pablo Picasso f. No matter how hard you hug your money, it never hugs back. H. Jackson Brown, Jr. g. Waste your money and you are only out of money, but waste your time and you have lost a part of your life. Michael Leboeuf h. There are people who have money and people who are rich. Coco Chanel i. A bank is a place that will lend you money if you can prove that you do not need it. Bob Hope j. Always borrow money from a pessimist; he does not expect to be paid back. Unknown author k. Money is neither my god nor my devil. It is a form of energy that tends to make us more of who we already are, whether it is greedy or loving. Dan Millman READING Task 4 You are going to read a text about ethical business behavior. What is the main moral dilemma a business can face today? Read the text and check your answer. Ethics in Finance The study of ethics and culture is a subjective discipline governed by religious beliefs and customs. Another point of view suggests that ethical behavior is supported by well-founded reasons. 7 The academic study of ethics in the business setting has only been around for approximately 40 years. The origins of the discipline are generally traced to Raymond Baumhart s groundbreaking studies in the 1960s. The field s first academic conference was held in The recent re-examination of ethics especially in respect of financial management can likely be traced to the 2001 Enron scandal. The passing of Sarbanes-Oxley Act of 2002 was a direct result of this ethical crisis. The act made provisions for the formation of the Securities and Exchange Commission, which now oversees financial auditors in the US, implements penalties for fraud and places greater responsibility on the CFO for fraudulent activities. The most effective way to ensure adherence to ethical principles and legal requirements is to consider the needs of all of the organization s stakeholders, from employees and vendors to shareholders and CFOs, and attempt to balance those needs. Managers should try to maximize value of the company. Does a focus on value mean that managers must act like greedy merchants? In most instances, there is little conflict between doing well and doing good. The first step in doing well is doing good by your customers. In part, the law deters managers from blatantly illegal action. However, when stakes are high, competition is intense, and a deadline is looming, it s easy to forget about the legality or morality of actions. In business, as in other day-to-day affairs, there are also unwritten rules of behavior. These work because everyone knows that such rules are in the general interest. Good managers know that their firm s reputation is one of the most important assets and therefore playing fair and keeping one s word are simply good business practices. For example, the motto of the London Stock Exchange is My word is my bond. When something happens to undermine this reputation, the costs can be enormous. Consider the case of the Solomon Brothers bidding scandal in A Solomon trader tried to evade rules limiting participation in auctions of US Treasury bonds by submitting bids in the names of the company s customers without their knowledge. When this was discovered, Solomon settled the case by paying almost $200 million in fines and establishing a $100 million fund for payments of claims from civil lawsuits. Yet the value of Solomon Brothers stock fell by far than $300 million. 8 A new twist in the study of ethics has been taken by a specific focus on something called risk culture. Risk culture can be positioned as the outcome of a series of trade-offs between risk-taking and control. Regulation has undoubtedly been a big driver of risk culture change programs. Attitudes to regulation are mixed. Frustrated organizations talk about excessive documentary demands. Co-operatively disposed organizations accept the new regulatory climate and seek to work with this more actively. A key issue is whether financial organizations accept the trade-off between their own approach to risk culture and that of the regulator. A finance code of ethics helps top management avoid significant legal problems or regulatory fines. Some companies require its accounting, finance and investment staff to take annual ethics classes or attend industry conferences to learn about the latest developments in state laws. In practice, a finance code of ethics typically prevents employees from engaging in illegal activities or act unprofessionally. From: Ethics and Financial Management. Amanda L. Webster Corporate Finance Risk Culture Report Code of Ethics in Finance Comprehension Task 5 Complete the following sentences using your own words. 1. The two approaches to the study of ethics and culture include and 2. Business ethics is a new discipline as 3. The new twist to the study of ethics in business environment was given after 4. Ethical decisions are best taken in consideration of 5. It is an erroneous point of view that maximizing value 6. The most valuable thing in an organization is its 7. In 1991, the Solomon Brothers stock fell by more than $330 million as a result of 8. Risk culture is defined as 9. There are two attitudes to government regulation - and 10. In practice, many companies demand their employees 9 Task 6 Note down the three most important regulations introduced by the Sarbanes-Oxley Act of 2002: Task 7 Note down the three major deterrents to a manager s socially responsible behavior: VOCABULARY Collocations Task 8 Find phrases in the text Ethics in Finance which mean the same as the following: Paragraph 1 1. prejudiced sphere of knowledge Paragraph 2 2. in the work environment 3. cutting-edge research Paragraph 3 4. current review 5. illegal actions Paragraph 4 6. guarantee loyalty 7. people who have vested interest in the company Paragraph 5 8. progress 9. behave according to moral principles Paragraph prevent administrators from 11. plainly fraudulent activity Paragraph acting properly 13. weaken a position Paragraph pleas from public litigation 10 Paragraph a recent turn 16. a huge incentive Task 9 Read the text and complete the gaps with the words from the list. a series of trade-offs an important asset day-to-day affairs ensure adherence to excessive documentary demands in the general interest intense competition and high stakes makes provisions maximizing the market value places greater responsibility religious beliefs and customs the regulatory climate The relationship between business ethics and culture can be viewed from the angle of the influence of 1 on the practice of business ethics. In its application to business ethics, culture may be defined in terms of the place of origin of the individuals who 2 the ideology of the organization. Culture 3 for the spirit of business ethics. Business ethics and culture may also be analyzed from the perspective of the manner in which the management and employees of the business apply ethical standards to the way of 4 of the company. 5 between the national character of business and 6 within a country is required at times. 7 of developed countries can frustrate companies from less regulated regions of the world, which happened to be involved in 8 on the international level. With the growth of globalization, 9, people migrate from one country to another in search of better business and career opportunities. Most medium to large businesses have a varied representation of employees from different backgrounds and cultures, and that 10 for managers being culturally aware. It is 11 to have some form of standard for dealing with the diverse cultures that constitute the employee base. It will help to form such 12 as corporate culture. 11 Task 10 Translate the following phrases into English. 1. быть хорошо обоснованным 2. контролировать финансовых аудиторов 3. вводить штрафы за мошенничество 4. вести себя как жадные торгаши 5. нависшие крайние сроки 6. мое слово моя гарантия 7. обходить правила 8. подавать ставки 9. уладить дело 10. настроенные на сотрудничество организации GRAMMAR Revision of tenses. Active and Voice Study the table to remind yourself of the tense forms of the verbs. Present Past Simple Continuous Perfect Active V 1 (s) Do / does Is Are V 3 Am Active V 2 Did V 1 Was Were V 3 Active Is Are V+ing Am Is Are being V 3 am Active Was Were V+ing Was Were being V 3 Active Have Has V 3 Have Has been V 3 Active Had V 3 Had been V 3 Perfect Continuous Active Have Has been V+ing - Active Had been V+ing - 12 Simple Continuous Perfect Perfect Continuous Active Will V 1 Active Will be V+ing Active Will have V 3 Active Will have been V+ing Future Will be V 1 - Will have been V 3 - Study the main speech functions of the tense forms. The Present Simple is used to: a. speak about repeated actions, habits, facts. b. give comments or make a summary of events. c. describe a timetable or a schedule (it may have a future meaning here). The Present Continuous 1 is used to: a. speak about an action that is in progress now. b. describe definite fixed arrangements for the nearest future. c. describe temporary or changing situations. d. speak about annoying habits. The Present Perfect is used to: a. describe recent events with a result seen now. b. describe a series of actions up to now or a state that lasts up to now. c. describe a completed action. The Present Perfect Continuous is used to: a. describe a state that lasts up to now. b. describe an uncompleted action, an action that started in the past but is still in progress now. 1 The Present Continuous cannot be used with stative verbs such as have, know, taste, think etc. without a change in meaning. 13 14 The Past Simple is used to: a. describe finished actions or events in the past. b. describe past habits or states. The Past Continuous is used to: a. describe actions in progress in the past. b. describe a repeated action in the past, often an annoying habit. c. give polite or uncertain meaning with the verbs like think, hope, wonder. d. give information about the background situation. The Past Perfect is used to make it clear that one past event happens before another past event. The Past Perfect Continuous is used to show that something started in the past and continued up until another time in the past. The Future Simple is used to: a. make predictions about the future b. speak about a spontaneous decision. The Future Continuous is used to describe a situation in progress at a particular time in the future. The Future Perfect is used to describe an action that is predicted to be complete by a certain moment in the future. The Future Perfect Continuous is used to express a continuous, action that will be completed by a certain time in the future. Task 11 Read the sentences, identify the tense forms of the verbs and say what the function of the tense form is in each context. Example: Bidders who submitted more than one bid for a single lot will be disallowed to take part in the tender. Submitted Past Simple Active, used to speak about a finished event in the past. Will be disallowed future Simple, used to predict some events in the future. 1. Val
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