UNIT 4: BUSINESS STRATEGY
-strategy (noun) /ˈstrætədʒi/
= a plan of action or policy designed to achieve a
major or overall aim
4.1. Food industry strategy (pages 38,
39)
*New trends in the food industry in Vietnam:
-Consumers are more concerned on health, hygiene and food safety
issues thus tend to spend more on safe, environment friendly and
even organic products.
-Increasing in the number of nuclear families, single person makes
change in packaging of processed and ready food products.
-Technology development makes it easier to access and experience
new cuisine trend, the availability of online food delivery apps, all
support to make the market more vibrant.
4.1. Food industry strategy (pages 38, 39)
Vocabulary
-tackle (verb) /ˈtækəl/ = make determined efforts to
deal with (a problem or difficult task)
-anticipate (verb) = to expect sth
Ex: We don't anticipate any major problems.
4.1. Food industry strategy (pages 38, 39)
Vocabulary
-major player = an important and successful company, especially
when compared with other, smaller companies in the same type of
business or industry
Ex: As well as being the market leader in the UK, the company is also
a major player in France.
-portfolio (noun) = the range of products or services offered by a
particular company or organization
Ex: a portfolio of wines
-confectionary (noun) = sweets or chocolate
4.1. Food industry strategy (pages 38, 39)
Vocabulary
-footprint (noun) = (in business) a company's
geographic market presence
-If something you have done pays off, it is successful.
Ex: All her hard work paid off in the end, and she
finally passed the exam.
4.1. Food industry strategy (pages 38, 39)
Vocabulary
-take over = take control of a company by buying enough
shares to do this
Ex: The firm was taken over by one of its main competitors.
-takeover bid (noun): sự mua thôn tính
(là chiến dịch mưu toan của một doanh nghiệp nhằm thôn
tính một doanh nghiệp khác bằng cách mua đa số cổ phiếu
của nó)
-merge (verb) = join together, or be joined together, to make a
larger company: sáp nhập
-merger: sự sáp nhập
-consolidation: sự hợp nhất
During a merger, essentially other corporate entities
become a part of an existing entity. This can be
useful for smaller companies merging into larger
comanies that have greater brand recognition.
Conversely, a consolidation is when multiple
companies join to form a new entity.
Exercise 8, page 39
1) In what ways is competition good for business?
In what ways is competition bad for business?
4) Which industries are experiencing most growth in Vietnam?
6) What are some qualities you need to succeed in running a
business?
Exercise 8, page 39
Suggested answers:
1) In what ways is competition good for business?
--> One important benefit of competition is a boost to innovation.
Competition among companies can encourage the invention of new
or better products, or more efficient processes.
--> Competition can also help businesses identify consumers' needs
and then develop new products or services to meet them.
Exercise 8, page 39
Suggested answers:
1) In what ways is competition bad for business?
--> Competition decreases the company's market share and shrinks its
customer base, especially if the demand for the products or services is
limited from the start.
--> The competitive market can also force companies to lower their
prices to stay competitive, decreasing company's profit on each items
the company produces and sells.
Exercise 8, page 39
Suggested answers:
4) Which industries are experiencing most growth in Vietnam?
-e-commece business
-advertising and media business
-fitness business
Exercise 8, page 39
Suggested answers:
6) What are some qualities you need to succeed in running a business?
-self-awareness (the ability to understand your own strengths and
weaknesses)
-decisiveness
-fairness
-enthusiasm
-integrity
-knowledge
-creativity and imagination
4.2. PEST analysis (pages 40, 41)
-A non-governmental organization (NGO) is a non-profit
group that functions independently of any government.
(Tổ chức phi chính phủ)
-impact (verb) = affect = influence
-impact (noun) = effect = influence
-intranet (noun) = a local or restricted communications
network, especially a private network created using
World Wide Web software: mạng nội bộ
4.2. PEST analysis (pages 40, 41)
-stability (noun): sự ổn định ≠ instability
-employment laws: luật lao động
-corporate taxes: thuế doanh nghiệp
-the age demographics: phân khúc nhân khẩu học
theo tuổi (người tiêu dùng ở độ tuổi khác nhau thì
nhu cầu khác nhau)
4.2. PEST analysis (pages 40, 41)
-economic recession: sự khủng hoảng kinh tế
-inflation (noun): sự lạm phát
-exchange rates: tỉ giá hối đoái (tỉ lệ trao đổi giữa hai đồng
tiền của hai nước)
-diplomatic crisis: sự khủng hoảng ngoại giao
-nationalization (noun) = the process of a government
taking control of a business or industry: quốc hữu hóa
4.5. WRITING: Reporting reasons and results
(page 46)
Exercise 3B, page 46
Sample answer
This report aims to outline problem areas within the company and details
reasons and results.
Problems
Customer complaints
There has been a big increase in customer complaints over the past few
months. The main problem seems to be because customers are unable to get
through to customer service by phone. Secondly, when they manage to speak
to someone, staff are very rude and are unable to explain the situation to
them. As a result many customers have cancelled their contracts with us.
Exercise 3B, page 46
Sample answer (cont.)
Phones not working
There appears to be a big problem with some of our phones, which do not
work properly. We have investigated and found that in order to reduce
costs, we had changed supplier, but some of the materials proved to be
substandard. This has resulted in the failure of two models and, to solve
this, we have had to replace many of the handsets.
Poor network service
Some customers say they are experiencing poor network service since
there are not enough masts around the country and that their phones are
useless in some areas.
Final test
Writing
Review Lessons 1.5, 2.5, 3.5 and 4.5.
Focus on:
-Unit 1: Emails (page 16, Coursebook)
-Unit 4: Reporting reasons and results (page 46, Coursebook)
