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Disciplina: Limba engleza, anul I CIG si Finante-Banci, sem. II

Prof.univ.dr. Lavinia Nadrag


SCOPUL CURSULUI: însusirea unui vocabular economic, în limba engleza, cu formarea deprinderii de scriere si pronuntare corecta a acestuia; reactivarea cunostintelor anterioare cu referire la temele uzuale prevazute în programa analitica; implicarea studentilor în discutii - dialoguri, dezbateri, argumentari - pe teme de curs practic, exploatând deprinderea de a vorbi corect; furnizarea de materiale autentice de citit care sa dezvolte întelegerea unui text si identificarea unor structuri noi; formarea deprinderii de a scrie corect - transmiterea de mesaje scrise: scrisori, recomandari, referate, autobiografii, etc.


Formarea priceperilor si deprinderilor de percepere, discriminare si reproducere a sunetelor limbii engleze, de întelegere si reproducere orala si în scris a structurilor prevazute în unitatile de studiu. Formarea si dezvoltarea capacitatilor de întelegere dupa auz, exprimare orala, citire si scriere în domeniul tematic prevazut în programa.

Dezvoltarea si perfectionarea capacitatilor de întelegere si exprimare orala, citire si scriere în limba engleza, dezvoltarea si perfectionarea priceperilor si deprinderilor de folosire corecta, oral si în scris, a limbii engleze, extinderea vocabularului, însusirea si aplicarea normelor gramaticale în exprimarea situativa conform tematicii prevazute în unitatile de studiu din programa.

Extinderea vocabularului economic prin însusirea termenilor de specialitate referitori la corespondenta de afaceri, însusirea cuvintelor si expresiilor recomandate pentru comunicarea in mediul de afaceri.


1-2. Accounting

3. Finance & Banking

4. Bank Structure

5. Deposits and Accounts

6. Business Writing

7. Business Letters in English

8. Resumes, CVs and Covering Letters

9. Are You Prepared for an Interview?

10. Communications

11. Meetings in English

12. Management - Definition, Functions & Job descriptions

13. Decision-Making


  1. Substantivul (The Noun)
  2. Articolul si alti determinanti The Article and Other Determiners)
  3. Numeralul (The Numeral)
  4. Pronumele (The Pronoun)
  5. Adjectivul (The Adjective)
  6. Adverbul (The Adverb)
  7. Prepozitia (The Preposition)
  8. Conjunctia (The Conjunction)
  9. Sintaxa propozitiei (The Simple Sentence)
  10. Ordinea cuvintelor în propozitie (Word Order)
  11. Fraza prin coordonare (The Compound Sentence)
  12. Fraza prin subordonare (The Complex Sentence)


Nadrag, L., L. Caraulan. Business English, Bucuresti, Ed. Fundatiei România de Mâine, 2002.

Stroescu, Manuela. Business English - course book, Constanta, Ex Ponto, 2006.

Stroescu, Manuela. Business English Glossary, Constanta, Ex Ponto, 2006.


Hollinger, A. 2002. Test your business English vocabulary, Bucuresti,Teora.

Milea, C. Commercial, Financial and Accounting English, Bucuresti, Ed. ALL, 1999.

Paidos, C., 1999. English Grammar. Theory and Practice, vol. I - II, Bucuresti, Ed. All.

FORMA DE EVALUARE EXAMEN SCRIS ( Limba engleza partea aII-a) test grila.

Evaluarea cunostintelor (reading comprehension - întelegerea textului scris; vocabular economic si grammar/language focus) consta într-un test grila care cuprinde 20 itemi (6 true/false; 10 multiple choice; 4 completion).


Cuvinte cheie: account, accounting, bookkeeping, book, ledger, journal, capital, shares, assets, liabilities, shareholders


The words ACCOUNTS, ACCOUNTING and ACCOUNTANCY may sometimes be synonymous, but accounts correspond to the statements or book entries, accounting to the methods and procedures and accountancy to the profession itself.

Accounting deals with the provision of information in financial terms in order to assist managers of companies in decision - making on resource allocation. Accounting also provides information to external users such as shareholders, customers, and creditors.

The current standard-setting framework came into existence on the 1 August 1990. The standard-setting process began in the late 1960s, early 1970s, when the accountancy profession formed the Accounting Standards Steering Committee (ASSC). This was subsequently renamed simply the Accounting Standards Committee (ASC), which became a committee of the Consultative Committee of Accountancy Bodies (CCAB). The CCAB is made up of the following professional bodies:

Chartered Association of Certified Accountants (ACCA)

Chartered Institute of Management Accountants (CIMA)

Chartered Institute of Public Finance and Accountancy (CIPFA)

Institute of Chartered Accountants in Scotland (ICS)

Institute of Chartered Accountants in Ireland (ICI)

Institute of Chartered Accountants in England and Wales (ICAEW)

The ASC issued final pronouncements titled Statements of Standard accounting Practice (SSAP) and Statements of Recommended Practice (SORP). SORPs were issued on matters that were not of general application or of fundamental importance, while SSAPs were issued for problems of general application and of fundamental importance.

It is important to realize that standard-setting has been going on in the UK for several decades not just since 1990 when the current process was introduced.


Find the words in the text, which have the same meaning as the following definitions.

a.    a list showing amounts of money paid, received, owing etc., and their total;

b.    the amount or share of something that has been allocated to an organization;

c.    group of people;

d.    something produced officially;

e.    a period of ten years


Complete the following sentences using suitable words from the box below.

The Accounting Standards Board develops and publishes .. (1).. standards. Members of this committee must have the technical .(2). necessary to appreciate fully the accounting issues involved. The .(3). is free of many of the constraints suffered by its .(4). , the ASC (Accounting Standards Committee). It does not .(5).. need the .(6). of the CCAB (Consultative Committee of Accountancy Bodies) members before issuing standards. This means the Board is not .(7). to the political pressures that these accountancy bodies used to .(8) .. on the ASC, although their views are .(9). considered.

Match the words in list A with definitions in B.


a. the point at which the margin from the sales is sufficient to cover a firm's expenses without either profit or loss

bottom line

b. money you owe to someone else or money that is owing to you and that you can recover.

break-even point

c. the total business a firm has done in a given time.


d. a reduction in the value or price of something


e. clerk in charge of recording business transactions and entering them in the accounts books, but nor a chartered or certified public accountant.


f. the receipt from sales of a product or service, of assets.


g. the cash coming in less the cash going out during a given period


h. the last line of an income statement, that indicates the net result (profit or loss) of the firm.


Read the text quickly and decide what the main topic is.

The Accounting Department (or the Ledger Department) is a branch of economics which deals with the keeping of account books as well as with the processing of data from the account books in order to obtain the periodic and other types of financial statements required. In the ledgers (its main books), there is a separate account for every legal or natural person from whom goods are bought or to whom they are sold. The supplier is credited for his commodity in the Purchases Ledger, while the customer is debited for the goods sold to him in the Sales Ledger. These two books are known as Personal Ledger. The impersonal ledger hold accounts for goods, capital, plant, interest, rent, depreciation, profit and loss, etc.

The Accounting Department also uses subsidiary books such as the sales Day Book, the Cash Book, the Purchase Book, the Bill Book, the Journal. The Journal indicates what happened or changed during that year, while the Ledger contains, not only the current year's events but it also tells us where we were when we started out at the beginning of the year.

A basic principle of modern book - keeping is the double entry, i.e. for every debit in one account, another account must be credited and vice versa.

A normal accounting practice for revenues and expenses is the accrual accounting. As distinct from the cash accounting which accounts only for cash receipts and payments, the accrual accounting applies for revenues in the period in which they are earned and for expenses in the period in which they are incurred.


Assets represent any items that can be given monetary values. They may be mainly divided into three categories: fixed or capital, or permanent assets, current or circulating or floating assets and wasting assets.

A fixed asset is expected to be used for a long time in the activity of a company: land, plant and machinery. Most fixed assets have a limited life because of wear, tear and obsolescence. The cost of these assets is written off against profits over their anticipated useful life. This is done by deducting an item for depreciation from the book value of the assets every year. This category includes the intangible assets referring to goodwill, patents, trade, marks, etc., the tangible assets, namely land, buildings, chattels and fixtures and the financial assets, namely investments such as stocks and shares or advances to other companies.

Current assets are also called liquid or available assets since they represent cash or any other item which can be easily converted into cash and mainly refer to stock and shares, Treasury Bills, bills receivable, discounted commercial bills, certificates of deposit, etc.

Wasting assets are those items which are given a determined life span and which require depreciation from the annual profits.

The total debts of a company represent the category of liabilities. They include: current liabilities (the debts due for payment within one year) and long term or deferred liabilities. Current liabilities mainly refer to creditors or accounts payable, taxation payable, debts due to trade and hire purchase, the amount owed to banks, while long terms liabilities include the loan capital, mortgages and debentures.

Financial accounting works out a number of financial statements such as the balance sheet, the cash flow statement and the profit and loss account or income statement. The balance sheet is a statement at one point of time which shows all the assets (what the company owns) against all the liabilities of a company (what a company owes; assets - liabilities = owners' equity).

Identify in the text words or phrases that mean:

a)      concerned with or relating to money;

b)      a factory or building where an individual process happens;

c)      a hole in a piece of cloth, paper, etc.;

d)      the state of becoming old - fashioned and no longer useful;

e)      cancelled

f)        a special document that says that you have the right to make or sell a new invention or product;

g)      something that belongs to you;

h)      a period of time between two dates or events;

i)        the amount of debts that must be paid;

j)        an official document given by a company, showing that it has borrowed money and that it will pay a fixed rate of interest;

k)      to formulate a solution; to devise a plan;

l)        the value of a piece of property or of a company's shares after debts have been paid.

Translate into Romanian:

Balance Sheet at 31.12.2000





FIXED ASSETS (=+3+4+5+6+7+8+9)












Plant and machinery



Fixtures, fittings and equipment



Payments on account and assets in course of construction






CURRENT ASSETS (=+11+12+13+14)









Cash bank and hand



Adjustment accounts






Bank balance/overdraft



Provision for risk









Adjustment accounts






NET ASSETS (=+1+2-20)



CAPITAL AND RESERVES (=+23+24+25+26-27-28+29+30+31)



Subscribed and paid capital stock



Share premium account






Revaluation proceeds








Profit distribution



Other funds



Subsidies for investments



DIFF (=+21-22)



Fill in the gaps with words from the box:

wholesaler C.W.O. enclose household

shop-lifters order display deadlines

deposit I.O.U. overdue creditor

instalments loan paying-in-slip overdraft

The firm deals in electrical appliances and ... goods.

These articles are on . in our showrooms.

. means that you must pay for the goods when ordering them.

Please . your check with your next letter.

The . is a middleman between the manufacturers and the retail traders.

. steal merchandise in stores.

An . is a promise to pay on the part of the debtor.

They cannot meet the delivery .

Your payment is . and your account is in the red.

We grant loans to our clients and arrange for . facilities.

When making a deposit you have to fill in the .

A hire purchase transaction involves payment by .

The contract provides for the borrower to leave 10% off the . on deposit.

I have been requested to leave a .

A bill of exchange is drawn up by the .

This is the biggest . we've ever placed with them.

Match the words in the list A with definitions in B


a) collateral 1) the numerical assessment of the risk a bank runs in granting a loan

b) credit rating 2) the payment made by a borrower for the use of money lent to him, calculated as a percentage of the capital borrowed

c) credit worthiness 3) debt instrument by which the borrower gives the lender a lien on his property as security for the repayment of the loan

d) instalment 4) list of debts and credits

e) interest 5) lends money against the security of personal property pledged in his keeping

f) loan-sharking 6) property offered as a guaranty to obtain a loan

g) mortgage 7) the money paid in regular amounts at regular intervals when paying back a loan

h) overdraft 8) lending money at extortionate interest rates

i) pawnbroker 9) a bank account from which money has been overdrawn

j) statement of account 10) the assessment of an individual's or a firm's capability of repaying loans

Complete the following sentences using suitable words from the box below.

interest instalments overdraft

loan security repayment

A bank . is a sum of money, which a bank will lend to a person or organization for a fixed period and usually with some kind of approved..

Those who borrow money in this way have to pay .

The interest payable on a personal loan is added to the sum at the start and the . is usually by equal monthly .

In the U.K., if you have an . you are allowed to take out more money from your bank account than you have in it.

Fill in the gaps, using the words EARNINGS, INCOME and REVENUE

. are the sums of money earned by working.

. may include unearned income acquired from other sources e.g. share dividends, property or other investments.

It is subject to income tax . is similar in meaning to income but is more likely to refer to the money that a company or organization receives through sales.

We would not normally refer to a private individual's income as .

Classify the idioms below according to the following topics:

Help and Encouragement


Honesty & Directness






Revealing & Hiding


Pull someone's leg; you scratch my back and I'll scratch yours; in the same boat; cook the books; wash your dirty linen in public; put/lay your cards on the table; bite the hand that feeds you; sweep something under the carpet; take someone under your wing; take something with a pinch of salt; behind your back; above board; give someone a hand; a stab in the back; pay lip service to something; a white lie; let the cat out of the bag; get something off your chest; below the belt; pull the wool over someone's eyes.


1. Prepare a short talk on the topic: shares and shareholders

2. Fill each of the numbered blanks. Use one word only in each space.

The financial accounting is responsible for the ..(1). of business in monetary values, the ..(2).. of the company and their presentation in quarterly or ..(3). financial statements. It is .(4). to record the financial history of a business entity. Unlike the financial accounting, the management accounting is a process of accumulation, ..(5)... and communication of both ..(6).. and operating data to the management of the company with the ..(7).. Aim of assisting managers to .(8).. The most appropriate decisions.

Translate into English

a)      provizioane; adaos comercial; profit net; profit brut; anexe la bilant; cheltuieli generale; contabilit 17417d323r ate în dubla partida; declaratie de venituri;

b)      Va rog sa-mi trimiteti lista facturilor neachitate.

Ei nu au respectat termenele de livrare.

Ne declinam orice raspundere în eventualitatea ca partenerul nu respecta conditiile clientului.

Extrasul arata ca, contul meu este descoperit.

Spre deosebire de o cambie, un bilet la ordin este emis de debitor.

Tocmai am deschis un cont de economii la aceasta sucursala.

Doua varsaminte, doua transferuri si o retragere efectuate la sfârsitul lunii octombrie nu apar în ultimul meu extras de cont.

Confirmam cu multumiri receptionarea cererii dumneavoastra din 20, data în curs.

Confirmam primirea comenzii dumneavoastra pentru marfuri în valoare de $10,000.

Va remitem anexat brosurile noastre.

Nu vom fi în masura sa satisfacem comanda dumneavoastra la data cuvenita.

Firma în discutie se bucura de o reputatie excelenta printre furnizorii si clientii ei.

Aveti intentia sa participati cu o oferta la licitatia pentru acest proiect?

Exista posibilitati de desfacere pentru produsele noastre în strainatate.

Zvonuri nefondate au provocat confuzie pe piata.

Cotatiile au atins nivelul cel mai scazut din ultimii 10 ani.


Cuvinte cheie: finance, banking, types of banks, services


Finance studies and addresses the ways in which individuals, businesses and organizations raise, allocate, and use monetary resources over time, taking into account the risks entailed in their projects. The term finance may thus incorporate any of the following:

The study of money and other assets

The management and control of those assets

Profiling and managing project risks

In business and accounting by asset is meant economic resources controlled by an entity as a result of past transactions or events and from which future economic benefits may be obtained. It is important to understand that in an accounting sense an asset is not the same as ownership; in accounting, ownership is described by the term equity. Assets = equity + liabilities (obligations).

The activity of finance is the application of a set of techniques that individuals and organizations (entities) use to manage their financial affairs, particularly the differences between income and expenditure and the risks of their investments.

An entity whose income exceeds its expenditure can lend or invest the excess income. On the other hand, an entity whose income is less than its expenditure can raise capital by borrowing or selling equity claims, decreasing its expenses, or increasing its income. The lender can find a borrower, a financial intermediary, such as a bank or buy notes or bonds in the bond market. The lender receives interest, the borrower pays a higher interest than the lender receives, and the financial intermediary pockets the difference.

A bank aggregates the activities of many borrowers and lenders. A bank accepts deposits from lenders, on which it pays interest. The bank then lends these deposits to borrowers. Banks allow borrowers and lenders of different sizes to coordinate their activity. Banks are thus compensators of money flows in space since they allow different lenders and borrowers to meet, and in time, since every borrower, in theory, will eventually pay back.

Finance is used by individuals (personal finance), by governments (public finance), by businesses (corporate finance), etc., as well as by a wide variety of organizations including schools and non-profit organizations. In general, the goals of each of the above activities are achieved through the use of appropriate financial instruments, with consideration to their institutional setting.

Business finance In the case of a company, managerial finance or corporate finance is the task of providing the funds for the corporations' activities. It generally involves balancing risk and profitability. Long term funds would be provided by ownership equity and long-term credit, often in the form of bonds. These decisions lead to the company's capital structure. Short term funding or working capital is mostly provided by banks extending a line of credit.

A bank is a business that provides banking services for profit. Traditional banking services include receiving deposits of money, lending money and processing transactions. Some banks (called Banks of Issue) issue banknotes as legal tender. Many banks offer ancillary financial services to make additional profit; for example: selling insurance products, investment products or stock broking.

Banking is transactions carried on by any individual or firm engaged in providing financial services to consumers, businesses, or government enterprises. In the broadest sense, banking consists of safeguarding and transfer of funds, lending or facilitating loans, guaranteeing creditworthiness, and exchange of money. These services are provided by such institutions as commercial banks, central banks, savings banks, trust companies, finance companies, life insurance agencies, and merchant banks or other institutions engaged in investment banking. A narrower and more common definition of banking is the acceptance, transfer, and, most important, creation of deposits. This includes such depository institutions as central banks, commercial banks, savings and loan associations, building societies, and mutual savings banks. All countries subject banking to government regulation and supervision, normally implemented by central banking authorities.

Aspects of Banking

The most basic role of banking, safeguarding funds, is done through vaults, safes, and secure facilities which physically store money. These physical deposits are in most cases insured against theft, and in most cases against the bank being unable to repay the funds. In some banks, the service is extended to safety deposit boxes for valuables. Interest given on savings accounts, a percentage return on the bank's investments with the money, gives an additional incentive to save. Transfer of funds can be handled through negotiable instruments, cheques, or direct transfers performed electronically. Credit cards and account debit cards, electronic cash tills, computer on-line banking, and other services provided by banks extend their usefulness by offering customers additional ways of gaining access to and using their funds. Automated clearing houses perform similar services for business customers by handling regular payments, such as wages, for a company banking with the bank. Longer-term schemes for providing regular income on savings are often offered through trust funds or other investment schemes.

Loans to bank customers are drawn on the funds deposited with the bank and yield interest which provides the profits for the banking industry and the interest on savings accounts. These loans may take the form of mortgages or other sophisticated policies. Banks may guarantee credit for customers who wish to obtain loans from other institutions. They also provide foreign exchange facilities for individual customers, as well as handling large international money transfers.

Services typically offered by banks

Although the type of services offered by a bank depends upon the type of bank and the country, services provided usually include:

Taking deposits from their customers and issuing checking and savings accounts to individuals and businesses

Extending loans to individuals and businesses

Cashing cheques

Facilitating money transactions such as wire (electronic) transfers and cashiers checks

Issuing credit cards, ATM cards, and debit cards

Storing valuables, particularly in a safe deposit box

Financial transactions can be performed through several different channels: Branch, ATM, Mail, Telephone, Internet.

Types of banks

Banks' activities can be characterised as retail banking, dealing directly with individuals and small businesses, and investment banking, relating to activities on the financial markets. Most banks are profit-making, private enterprises. However, some are owned by government, or are non-profit making. In some jurisdictions retail and investment activities are, or have been, separated by law. Central banks are non-commercial bodies or government agencies often charged with controlling interest rates and money supply across the whole economy. They act as Lender of last resort in event of a crisis.

Types of retail banks

Commercial bank, is the term used for a normal bank to distinguish it from an investment bank, but the term may also refer to a bank that mostly deals with deposits and loans from corporations or large businesses.

Community Banks are locally operated financial institutions that empower employees to make local decisions to serve their customers.

Community development bank are regulated banks that provide financial services and credit to underserved markets or populations.

Postal savings banks are savings banks associated with national postal systems.

Private banks manage the assets of high net worth individuals.

Offshore banks, essentially private, are located in jurisdictions with low taxation and regulation.

Savings banks keep their focus on retail banking: payments, savings products, credits and insurances for individuals or small and medium-sized enterprises, but they differ from commercial banks by their broadly decentralised distribution network, providing local and regional outreach and by their socially responsible approach to business and society.

Building societies and Landesbanks both conduct retail banking.

Ethical banks prioritize the transparency of all operations and make only social-responsible investments.

Types of investment banks

Investment banks "underwrite" (guarantee the sale of) stock and bond issues, trade for their own accounts, make markets, and advise corporations on capital markets activities such as mergers and acquisitions.

Merchant banks were traditionally engaged in trade financing. The modern definition, however, refers to banks which provide capital to firms in the form of shares rather than loans.

Both combined

Universal banks, more commonly known as a financial services company, engage in several of these activities. For example, First Bank (a very large bank) is involved in commercial and retail lending, and its subsidiaries in tax-havens offer offshore banking services to customers in other countries. Other large financial institutions are similarly diversified and engage in multiple activities. In Europe and Asia, big banks are very diversified groups that, among other services, also distribute insurance, hence the term bankassurance.

A. Choose the answer that makes sense in the context of the story:

A. Venture Capitalists B. Industrial Spying or Espionage C. Start-up

D. Stay below the Radar E. Business Plan

1.  Jerome and Florence had a great idea for a  ___________.

2. They have already tentatively contacted some ____________  who seem interested.

3.  Now the new partners must formulate a __________ to present to these market speculators.

4. Jerome is worried about ___________ and is keeping mum about the whole subject.

5.  Florence agrees. She feels that the best way to succeed is to be:  innovative, fast to the market, and ______________.

B. Now choose from the words below the one that best replaces the underlined word.

A. Stock B. Financing C. Mortgage D. Wherewithal E. Collateral

6.  Even though they may get some outside funding Florence and Jerome will have to provide some money of their own.

7. Jerome's father bought him some shares in Microsoft and Cisco Systems when he was little.

8. Even though they are held for him in a trust fund until he is 25, Jerome can use part of their value as security for a loan from the bank.

9. As to Florence, her rich uncle Yassine left her free and clear a house in Bordeaux. She plans to borrow on the house.

10. Thus providing the financial resources for her stake in their new enterprise.


MONEY. Complete. Each (--) represents one letter.

1. I spend about $ 1.5 a week on bus __ __ __ es.

2. I had to pay __ __ __ __ on the Turkish carpet I brought in through the Customs today.

3. Now that Mr. Old has retired, he lives partly on his __ __ __ s __ __ __ and partly on

the __ __ t __ __ __ __ __ from his post office savings account.

4. In spite of its size his family was quite __ __ __ __ off, because he brought in a good __ __ l __ __ __ .

5. Gold would be a good __ __ v __ __ __ __ __ __ t; it's bound to increase in value.

6. Due to inflation the __ __ __ __ __ __ __ __ of living went down by fifteen __ __ __ c __ __ __ .

7. I couldn't buy the house because the bank refused to let me have a m __ __ __ __ __ g __ .

8. If you borrowed money from him, you are under an __ __ l __ __ __ __ __ __ __ to give it back.

9. You must stop wasting your money on silly things and start __ __ v __ __ __. This is the only solution to your __ __ n __ __ __ __ __ __ troubles.

10. One dollar is __ __ u __ __ to over 1,700 lei..

11. The main advantage of a __ __ __ __ u __ book or __ __ __ d __ __ card is that you don't have to carry cash around with you.

12. I carry loose change in my pocket and __ __ __ __ s in my leather __ __ l __ __ __.


BANKS. Choose the correct answer.

1. Please find enclosed our.....scale for life insurance premiums.

a) gauging b) raising c) sliding d) slipping

2. My enquiries did not....... any information of value.

a) affect b) arouse c) elicit d) extort

3. His bank manager decided to give him financial........... for the new shop.

a) backing b) footing c) lifting d) standing

4. Many people who go to see their bank manager have a ...... problem,

a) cash-book b) cashing up c) cash flow d) petty cash

5. Reminders must be sent out to all customers whose accounts are more than a month ....

a) indebted b) overdue c) unbalanced d) unpaid

6. The notes in the wallet were all........... American dollars.

a) counterfeit b) false c) mimic d) mock

Bottom of Form


Cuvinte cheie: bank, finance, market, organisation, role, central banking, investment


Banks and Financial markets

The major function of banks as intermediaries is that of channelling finance from lenders to borrowers and back again, i.e. from firms to firms, from firms to the government, from firms and people to people, the basic relationship between a banker and a customer being that of creditor and debtor.

As banks are financial institutions, the structure of banking largely depends on the structure of the financial markets which may be mainly divided into money markets providing very short-term loans and capital markets dealing with medi­um and long-term loans; in addition, other categories of markets may be distin­guished such as inter-bank markets on which the London inter-bank lending rate (LIBOR) represents the determining indicator for the base rates of banks, finance house markets, inter-company markets, commercial paper markets, euro-currency market, insurance and commodity markets.

Organisation Structure

A general organisational structure of a bank essentially depends on both the bank itself and its environment and banking is expected to cover major areas such as large corporate and corporate, private, retail, investing, shipping and international areas.

Henry Mintzberg's suggestion of five elements seems to be very popular in most organisations. According to Mintzberg the following levels may be distin­guished: the strategic apex, the middle line, technostructure, support staff and operating core (organigram 1).

The Strategic Apex is composed of the senior managers of the bank including the Chairman, Deputy Chairman if any, and Directors. They are responsible for the administra­tion and management of the bank, together with the shareholders and other experts in banking.

The Board of Directors manages the operations of the bank; it commonly includes the Directors, i.e. the heads of divisions, and may additionally include the Chairman, Deputy Chairman as well as other officials. It is statutorily led by the Managing Director or Chief Executive Officer. Three main and distinct divisions may be commonly distinguished within a bank: The Finance Division, The Operations Division and The Commercial Division.

The Finance Division is usually divided into a Treasury Department responsible for the cash manage­ment, investments, trading, balance, and administration and a Financial Management Department in charge of areas such as accounting and General Ledger, planning and budgeting, analyses and statistics as well as management accounting.

The Operations Division usually includes departments responsible for girobank, clients and cus­tomers, data processing, production control and cost administration.

The Commercial Division usually consists of departments such as marketing, distribution channels, credit as well as deposit and savings.

The Middle Line includes the middle management of the bank at both central and branch level. The middle managers are the heads of the bank departments at middle level.

Technostructure level refers to activities such as organisation and development, internal audit, administrative services, general office, personnel and Information Technology (IT).

Support staff are important for the operation of the bank and generally comprise lawyers, staff in charge of public relations and industrial relations, payroll depart­ment, etc.

Operating Core consists of junior or senior clerks, cashiers, loan officers, account managers, valuators, salesmen, controllers, machine operators, trainees, etc., people con­stituting the workforce of the bank.

Wheel Structure A new modern structure ensuring better communication between the manage­ment and the various divisions, departments and sections, on one hand, and among divisions, departments and sections, on the other hand, is the so-called wheel structure (organigram 2). In the wheel organisational structure, the three management levels particular to the pyramid one are reduced to only two, namely to the senior management and team leaders since the middle and junior management levels are combined together into only one.

This structure is becoming more and more popular and a large range of banks have already organised their activities in such a way.

Organisational Culture Any newcomer to an organisation needs to know it in order to fit in easily. There is a number of items giving clues to an organisation culture such as attitude to customers, visible structure, corporate literature including brochures and letter­heads, the way the behaviour is rewarded and human resources' stability.

A strong culture running throughout a bank should be characterised by trust, shared understanding and it is expected to facilitate communication, decision-making and efficiency.

adapted from C. Milea, English for Banking, p. 4-8

Role of Central Banking

The foremost monetary institution in a free market economy is the central bank. These are usually government-owned institutions, but even in countries where they are owned by the nation's banks (such as the United States and Italy), the responsibility of the central bank is to the national interest.

Most central banks perform the following functions: they serve as the government's banker, act as the banker of the banking system, regulate the monetary system for both domestic and international policy goals, and issue the nation's currency.

As banker to the government, the central bank collects and disburses government income and receipts, manages the issue and redemption of government debt, advises the government on all matters pertaining to financial activities, and makes loans to the government.

As banker to the nation's banks, the central bank holds and transfers banks' deposits, supervises their operations, acts as a lender of last resort, and provides technical and advisory services. Monetary policy for both domestic and foreign purposes is implemented and, in many countries, decided by the national banking authorities, using a variety of direct and indirect controls over the financial institutions. Coins and notes that circulate as the national currency are usually the liability of the central bank.

The ability of the central bank to control the money supply and thus the pace of economic growth is responsible for a major economic policy debate. Some economists believe that monetary control is extremely effective in the short run and can be used to influence economic activity. Nevertheless, some hold that discretionary monetary policy should not be used because, in the long run, central banks have been unable to control the economy effectively. Another group of economists believes that the short-term impact of monetary control is less powerful, but that the central banking authorities can play a useful role in mitigating the excesses of inflation and depression. A newer school of economists claims that monetary policy cannot affect systematically the pace of national economic activity. All agree that problems related to the supply side of the economy, such as fuel shortages, cannot be resolved by central-bank action.

International Banking

The expansion of trade in recent decades has been paralleled by the growth of multinational banking. Banks have historically financed international trade, but the notable recent development has been the expansion of branches and subsidiaries that are physically located in other countries, as well as the increased volume of loans to borrowers internationally. For example, in 1960 only eight US banks had foreign offices; by 1987, 153 US banks had a total of 902 foreign branches. Similarly, in 1973, fewer than 90 foreign banks had offices in the United States; by 1987, 266 foreign banks operated 664 offices in the United States. Most are business-orientated banks, but some have also engaged in retail banking.

The growth of the Eurodollar market has forced major banks to operate branches worldwide. The world's banking system played a key role in the recycling of petrodollars, arising from the surpluses of the oil-exporting countries and the deficits of the oil-importing nations. This activity, while it smoothed international financial arrangements, is currently proving awkward as foreign debtors find it more difficult to repay outstanding loans.


1. Word Study. Verbs most commonly used with 'JOB'.

1. If you 'apply for' a job, you ask a company for a job.

I've applied for six jobs in the last week and haven't heard back from any of them.

We were expecting a lot of people to apply for the job but not as many as this.

2. If you 'are out of 'a job, you do not have any work. If you are 'put out of a job', you are made redundant.

I'm out of a job at the moment but I'm hopeful I'll get something soon.

My biggest fear is being put of my job. At my age, I would struggle to find another one.

3. If you are 'sacked from' your job, you lose it for disciplinary, not economic, reasons.

He was sacked from his job for stealing.

I wouldn't employ somebody who had been sacked from a previous job.

4. If you 'create' a job, you establish a new job which didn't previously exist.

We've created ten new jobs in the Production Department.

I think we need to create a new job specifically to look after this project.

5. If you 'find somebody' a job, you use your contacts to get them a job.

I'm sure I can find your son a job in our warehouse for the summer.

Can you find me a job in your company?

6. If you 'give up' a job', you resign from it.

I'm giving up my job and devoting all my time to my song writing.

If you give up your job, you won't find it easy to get another one in this economic climate.

7. If you 'hold down' a job, you keep it.

I've held down this job for over three years now.

She manages to hold down two jobs.

8. If you 'hunt for' a job, you actively look for one.

She's been hunting for a job for two months without any success.

You need to hunt for a job more systematically; not just when you feel like it.

9. If you 'resign from' a job, you give it up. (see number 6!)

He resigned from his post because he couldn't stand the long hours.

I resigned from my previous employer because I thought some of their sales techniques were unethical.

10. If you 'take up' a job, you start it.

I'm leaving here at the end of the week and I take up a new job with OUP next month.

It's quite difficult taking up a new job and having to learn all the ropes again.

11. If your job' is at stake', it is at risk of being lost.

There are 500 jobs at stake if we don't get the contract.

If I make a mess of this, my job will be at stake.

12. If your job 'is in jeopardy', it is also at risk.

The fall in demand puts all our jobs in jeopardy.

With their jobs in jeopardy, you would have expected the unions to have been more cooperative.

2. BANKS. Put each of the following words or phrases into its correct place in the text below.



bank income




interest safekeeping











record in banks for future use. A man may be..........each week for his work. He probably will not want to.........all his pay the day he receives it. It may be risky for him to carry all his unspent money in his.........., or at home. So he may decide to put some of his money in a bank for........The money he puts in the bank is called a............This money is.........., or added, to his....... An account is a...........of the money a depositor has in the bank. When the depositor wants to........, or take out, part of his deposit, the......must be ready to pay him.

Banks use the money of............for loans to those who need .......... The bank that makes the loan is called a lender, or...........The bank charges the borrower, or............, interest for the use of the...... Charging...........for the use of money is the chief source of............


Choose the right answer.

1. When you retire at the age of sixty-five, you receive a(n).........from the government.

a) allowance b) fine c) grant d) pension

2. If production in that factory exceeds the target, the workers get a...........

a) bonus b) donation c) gratuity d) premium

3. Income tax one's annual income.

a) associated b) based c) dependent d) related

4. The......of living has risen by 25% in the last six months.

a) cost b) expenditure c) expense d) price

5. The kidnappers demanded a.........of $ 1,000,000.

a) fine b) penalty c) ransom d) reward

6. The World Bank has criticised the United States for not giving enough the East European countries.

a) aid b) allowance c) loan d) premium

7. You can.......your basic wage by working longer hours.

a) effect b) help c) implement d) supplement

8. A salesman is paid a......on the goods he sells.

a) commission b) percentage c) provision d) salary

9. The President admitted taking.........and had to resign.

a) bribes b) fees c) fines d) premiums

10. In our country......of $ 250 is paid weekly to a family with more than three children.

a) an allowance b) a fee c) an income d) a wage

11. Mr. Mean cannot bear to..........even the smallest sum of money for a charity appeal.

a) give in b) let out c) part with d) pay off

12. Mr. Rich earns $ 8,000 a month..........and $ 5,000 a month net.

a) bulk b) gross c) mass d) wholesale


Cuvinte cheie: types of accounts, bankruptcy, subsidy


As banks strongly tend to increase their business they are highly interested in drawing in more and more deposits as sources designed to fund lending and investment activities. For the purpose of attracting funds from individuals and companies banks offer a large variety of personal and business accounts and give their customers statements of account showing the account balance, at regular intervals or on demand.

Types of Accounts

Current Accounts. The current accounts are also known as cheque accounts and offer a low inter­est rate or no interest at all. As a result, they represent a low-cost fund for banks. They are opened by both individuals and corporations.

Budget Accounts. These accounts are separate nominated cheque ones and are specifically used for paying bills such as for household expenses, telephone, gas, electricity, taxes, insurance, etc., by monthly transfers or cheque drawing.

Credit cards. They are convenient for both banks and customers as they are easy to bear and use. Banks receive interest on the amounts advanced to customers as well as commission from the shop keepers accepting credit cards in the payment for goods and services.

Savings Accounts. They are sight accounts similar to the current ones but as they represent medium or long-term deposits the rate of return is higher. In the corporate banking, this type of accounts can be also used for night deposits or payroll payments.

Term Accounts. This category of deposits has the advantage of a higher interest rate for cus­tomers and can be used as a guarantee for loans as well. As the term accounts are not payable at any time, they offer higher return for depositors and represent an adequate medium or long-term financing source for banks.

Certificates of Deposit (CDs). Specifically, they require a small amount of money, can be changed into cash at any moment and their ownership can be transferred by consequently losing part of interest.

Restricted-Close Accounts. Within such an arrangement, the depositor is not allowed to raise the money until a certain term elapses.

Student and Youth Deposits. They represent an incentive for promoting savings among young people, on one hand, and, on the other hand, provide necessary money for progress in their professional careers; they have a higher interest rate.

Foreign Exchange Accounts. These accounts are specific to the commercial customers of the banks as the transactions in foreign currency are expanding due to the globalisation of economies and deregulation in funds transfers between countries.

Sweep Accounts. They are particular types of accounts where balances exceeding a certain level can be transferred into money-market funds; they are mainly offered to major cus­tomers. 

Cash Management Accounts. This type of accounts specifically combines a brokerage account with a bank one. These accounts offer customers a number of facilities such as daily interest on account balance, Visa debit card, cheque facilities or instant loans at brokerage interest rates.

Revolving Credit Accounts. They are special accounts where customers can pay in fixed amounts of money monthly and give depositors the option of withdrawing several payments by cheque every month.

Office Accounts. Banks usually open such accounts for professionals such as solicitors, accountants, architects, doctors, etc. who need them for their daily accounting practice.

Similarly, special accounts may be opened for administrators, executors, trustees and supervisors on the condition that they are personally liable for any borrowing approved by creditors and beneficiaries.

Estate Agents Accounts In Great Britain, estate agents can open a separate trust account in pursuance of law where they keep the money from their clients in order-to-use it as pre-con­tract or contract deposits.

Insurance Broker Accounts Except for the ones who are members of Lloyds, the insurance brokers are required to open separate current or deposit accounts for the money used in insurance transactions. Such insurance broker accounts may be also used for receipt of premiums on policies as well as for payments in respect of claims.

Joint Accounts They represent accounts opened by two or more parties and the most common ones are run by husbands and their wives; withdrawals can be made upon a clear authority given to the person intending to take out the money.

Company Accounts Public limited or private limited companies constitute the most important cus­tomers of banks as they need banking services for their trade activities and busi­ness operations such as payments to suppliers, guarantees to international part­ners, safe custody of excess cash as well as funds for performance in accordance with the company objects. In this respect, they run various deposit accounts available to corporations, namely current and savings accounts, certificates of deposit, repurchase agreements, credit accounts, foreign exchange accounts as well as all new types of deposit accounts such as sweep and cash management accounts.

In order to open an account, companies are obliged to lodge with the bank resolution passed by directors, a company mandate, the Certificate of Incorporation, the Memorandum and the Articles of Association.

Business accounts can be also opened by sole traders and partnerships requir­ing working capital for trading, finance for repairs, refurbishments or purchase of new fixed assets or capital items like computers and cars. Single signature of the proprietor or joint signatures of the partners are needed for opening such accounts.

Accounts for Unincorporated Entities The unincorporated entities, i.e. associations, foundations, clubs or societies having separate identity in law, can open accounts for shorter or longer periods by the mandate of their members or managing committee. 

adapted from C. Milea, English for Banking, p. 16-18

Banking in Britain

Since the 17th century Britain has been known for its prominence in banking. London still remains a major financial centre, and virtually all the world's leading commercial banks are represented.

Aside from the Bank of England, which was incorporated, early English banks were privately owned rather than stock-issuing firms. Bank failures were not uncommon; so in the early 19th century, joint-stock banks, with a larger capital base, were encouraged as a means of stabilising the industry. By 1833 these corporate banks were permitted to accept and transfer deposits in London, although they were prohibited from issuing banknotes, a monopoly prerogative of the Bank of England. Corporate banking flourished after legislation in 1858 approved limited liability for joint-stock companies. The banking system, however, failed to preserve a large number of institutions; at the turn of this century, a wave of bank mergers reduced both the number of private and joint-stock banks.

The present structure of British commercial banking was substantially in place by the 1930s, with the Bank of England, then privately owned, at the apex, and 11 London clearing banks ranked below. Two changes have occurred since then: The Bank of England was nationalised in 1946 by the postwar Labour government; and in 1968 a merger among the largest five clearing banks left the industry in the hands of four (Barclays, Lloyds, Midland, and National Westminster). Financial liberalisation in the 1980s has resulted in the growth of building societies, which in many ways now carry out similar functions to the traditional "clearing banks".

The larger clearing banks, with their national branch networks, still play a critical role in the British banking system. They are the key links in the transfer of business payments through the checking system, as well as the primary source of short-term business finance. Moreover, through their ownership and control over subsidiaries, the big British banks influence other financial markets dealing with consumer and housing finance, merchant banking, factoring, and leasing. The major banks responded to competition from building societies by offering new services and competitive terms.

A restructuring in the banking industry took place in the late 1970s. The Banking Act of 1979 formalised Bank of England's control over the British banking system, previously supervised on an informal basis. Only institutions approved by the Bank of England as "recognised banks" or "licensed deposit-taking institutions" are permitted to accept deposits from the public. The act also extended Bank of England control over the new financial intermediaries that have flourished since 1960.

London has become the centre of the Eurodollar market; participants include financial institutions from all over the world. This market, which began in the late 1950s and has since grown dramatically, borrows and lends dollars and other currencies outside the currency's home country (for example, franc accounts held in any country other than France).

Banking in the United States

The United States banking system differs radically from such countries as Canada, Britain, and Germany, where a handful of organisations dominate banking. In the past, geographical constraints on expansion prevented banks from moving beyond their state or even beyond their county. Thus, many small bankers were protected from competition. The result is a national network of almost 12,000 commercial banks. More recently most states as well as the federal government have loosened the regulation of banks, especially in the area of mergers and acquisitions. Many banks have grown by taking over other banks inside and outside their home states. The largest banks account for the bulk of banking activity. Fewer than 5 per cent of the banks in the United States are responsible for more than 40 per cent of all deposits; 85 per cent of the banks hold less than one fifth of total deposits. The Federal Reserve System, composed of 12 Federal Reserve Banks and 25 Federal Reserve Districts throughout the United States, is the central bank, banker to the US government, and supervisor of the nation's banking industry.

The US banking system is distinguished by a tradition of thrift institutions established to remedy the commercial sector's historic neglect of the non-business consumer market. Savings and loan associations (SLAs) which first appeared in the 1830s, were patterned after cooperative movements in Scotland and England. Dealing mostly in residential real estate mortgages, and particularly in home mortgage loans, SLAs exist primarily to support home ownership. In the late 1980s the failures of many SLAs caused the government to overhaul the industry and place it under federal supervision. American savings banks, established with similar intentions, invest the deposits of customers in stocks and bonds, especially government bonds, and also provide mortgage services. Credit unions likewise invest money on behalf of members.

While government regulation of commercial banking since the mid-1930s has led to a low failure rate and preserved a substantial amount of competition in some markets, local monopolies have also been implicitly encouraged. Moreover, stringent regulations have caused some bankers to devote considerable resources to circumventing government controls. Rethinking of the role of government regulation in the economy in general may lead towards even further liberalisation of controls over the banking system.

Banking in Continental Europe

Major central banks in the European Union are France's Banque de France, Germany's Bundesbank, and the Bank of Italy. Major commercial banks include Germany's Deutsche Bank A.G., Dresdner Bank A.G., and Commerzbank A.G., and France's nationalised Banque Nationale de Paris, Crédit Lyonnais, and Société Générale.

Significant structural differences distinguish the banking system of continental Europe from that of many other developed nations. The main differences are in ownership, scope, and concentration of activities.

One distinguishing aspect of European banking, especially in the Latin countries, is the role of the state. Virtually all banking institutions in the United States, Canada, and Britain, are privately owned. In France and Italy, however, the government either owns the major commercial banks or the majority of their stock. The role of the government in banking is therefore significant, and often controversial. France's Crédit Lyonnais was the subject of considerable criticism in the early 1990s because of the government assistance extended to it to cover its heavy trading losses. European banks engage in some activities prohibited elsewhere, such as the placement and acquisition of common stock.

Commercial banks in Europe tend to be highly business orientated and limit their lending to shorter-term loans. Long-term loans are handled by bank affiliates. The share of the deposits and loans handled by the major European banks tends to be particularly large. This stems from the absence of restrictions on branching, leading the large European banks to maintain extensive networks of branches in their home countries. The absence of an antitrust tradition also accounts for the greater degree of concentration.

Germany's Bundesbank has become the dominant central bank in the European Union, thanks mainly to its success in controlling inflation and Germany's economic strength. Its constitution leaves it notably independent from government interference. There is a broad consensus that it will serve as the basis for any European central bank in the event of full European Monetary Union. However, the Bundesbank itself has in the past been conspicuously lukewarm about the prospect, apparently fearing the effect of association with other national economies on its own sound record on inflation.


1. Market economy I. Match the words in column A with their definitions in column B.



1. subsidy

a. The state of a company which is unable to

pay its debts and has to be wound up.

2. overstaffing

b. Inability to find a job.

3. unemployment

c. A component of the market forces which

when it prevails makes prices of goods rise.

4. supply

d. A payment by a government to producers

of certain goods to enable them to sell their

products at a low price.

5. demand

e. Rights over property.

6. ownership

f . Employment of personnel in excess of the

real necessities.

7. bankruptcy

g. A component of the market forces which

when it prevails makes prices of goods fall

2. Market economy II. Fill in the gaps with words from the list below:

bankrupt; compete; competition; customers; inefficiency; manage; monopolies; overstaffing; ownership; quality; share; staff; state; subsidized.

A market economy is based on private ...(1) in contrast to planned economy where ...(2) ownership prevails. In a free market economy efficiency is the key word, while on the other hand command economy most likely leads to ...(3). In a free market economy inefficient businesses go . (4), whereas in a command economy businesses are ...(5), thus allowing them to survive in spite of their non-satisfactory economic performance. This enables the latter type of economy to resort to ... (6), that is employing more per­sonnel than actually required. Market economy leads to high . (7) of goods and services, while on the other hand planned economy will not focus on offering high quality goods and services to ...(8). This is due to the fact that in the latter type of economy there is actually no ...(9), as there are state ...(10) and therefore the options of customers are severely restricted. On the other hand in a market economy companies freely ...(11) for a larger market... (12), and are thus forced to be efficient and employ ... (13) according to real necessities and ... (14) their resources with utmost care.

3. Banking Vocabulary Quiz. Fill in the blanks choosing the best word possible.

1.  For most transactions you may use the ATMs conveniently located at the entrance, however if you prefer: our ___________ are available from 8 am to 9 pm daily Monday through Saturday.

A. bank guards B. receptionists C. secretaries D. tellers E.  cashiers

2. "We are thinking of buying a house and I would like to talk to a _________  ."

A. borrowing guy B. credit person C. loan officer D. checking supervisor E. debt department

3.  Mythic Bank regrets to inform you that your account is  ____________  to the tune of  $1,500. (continued in question 4)

A. under estimated B. overdrawn C. illegally deposed D. credited E. debited

4. Please ________ this sum in your checking account as soon as possible to resume the use of your credit card.

A. withdraw B. declare C. abjure D. put off E. deposit

5.  "After examining you pay stubs I feel sure that your  _____________ is more than sufficient to qualify you for this mortgage.(continued in question 6)

A. job B. profit C. income D. derivatives E.  jackpot
6.  However, we are obliged to run a credit check to see if you have any outstanding   _______  . It is only a formality.

A. debts B. junk bonds C. by-products D. fixed exchanges E.  letters of credit

7. My husband would like to remodel the kitchen so I would like to  _______ $20,000 for a second mortgage on our house.

A. withdraw B. purloin C. loot D. borrow E. lend

8. I understand that you were abroad this month. Let's see what we can do.... The payment was due yesterday. Would you mind ___________ the check to Monday? That way you will avoid any late penalties.

A. forwarding B. backdating C. depositing D. withdrawing E. signing

9. We do need a notary  for this agreement to be finalized. However his _______  should be negligible. A. fees B. utility C. guarantee D. issue price E. placement

10. You will have to come back tomorrow since, for the moment, their refund check has not yet..A. deposited B. purported C. cleared D. rallied E. optioned


BANKS. Choose the correct answer.

1. Every Friday Fred ........ money out of the bank.

a) cashed b) drew c) robbed d) stole

2. The........of the pound has fallen recently.

a) expense b) price c) value d) worth

3. In order to buy his house Mr. Not-Too-Rich had to obtain a large......from his bank.

a) capital b) debt c) finance d) loan

4. The accounts show a..........of $ 500 this month.

a) decrease b) deficit c) deterioration d) devaluation

5. Violetta drew.....all her savings from the bank to pay for her trip to Thailand.

a) along b) in c) out d) up

6. The bank will require three.........signatures when you open an account,

a) natural b) sample c) specimen d) trial

7. Miss Thrifty phoned the bank much money there was in her account.

a) check b) control c) inspect d) test

8. Corruption in the running of the town's largest bank has recently the local


a) commented b) discovered c) exposed d) found

9. Many people save money to...........for their old age.

a) cater b) equip c) provide d) supply

10. Mr. Royce had to.....all his savings from the bank to pay for a new car.

a) exchange b) retire c) subtract d) withdraw

11. The bank is offering anyone who can give information about the robbery.

a) compensation b) prize c) premium d) reward

12. The...........of the bank where I work is in the suburbs.

a) branch b) house c) quarter d) seat

13. I didn't write it. That's not my.....on the cheque.

a) firm b) leter c) mark d) signature

14. I'm afraid that the bank will refuse my application for an extended.......

a) balance b) compensation c) estimate d) overdraft

15. At this bank you can get 14%.........on your savings.

a) interest b) rate c) rent d) salary

16. I want $ 500 worth of French francs. What is the...........rate, please?

a) currency b) exchange c) market d) money

17. Miss Positive.....the bank manager that she would be able to repay the loan.

a) assured b) ensured c) certified d) insured

18. The debt should be paid.........within thirty days of receiving this statement.

a) all over b) as a whole c) for good d) in full

19. I have account in this bank.

a) entered b) made c) opened d) registered

20. Miss Thrifty.......only $ 15 out of the bank every week.

a) draws b) extracts c) pulls d) removes

21. Please complete the..........form and return it to the branch manager.

a) encased b) enclosed c) enveloped d) inserted

22. inform you that settlement of your account is three months overdue.

a) apologize b) are displeased c) dislike d) regret

23. $ 1 1.6 German marks.

a) comparable b) changeable c) equivalent d) variable

24. We cannot give you the money until you show us some form of .....: a passport

or a driving license will do.

a) identification b) identity c) paper d) surety

6. Business Writing

Cuvinte cheie: memo, report, business correspondence


Effective business people must learn how to write what they want to say. Too many executives write like illiterates. They don't know how to spell or punctuate. Their grammar is atrocious. They have never learned the subtle differences between "who" and "which" when referring to people and things. They refuse to look at "whom" objectively, and to them "their" and "there" are as interchangeable as a pair of socks. Yet somehow they think it doesn't matter.

They are very wrong, and so are you if you haven't learned to express yourself on paper. You are judged by what you write. If you send a letter full of misspellings and grammatical errors, the recipient's opinion of your ability is not likely to increase. If your reports are incoherent and vague, you are not helping yourself with your boss. If you make him come to you and say, "I have your report. Now will you come into the office and explain what you are talking about," you can be sure you haven't made a good impression. He's probably saying, "Joe's okay where he is. He has ability. It's a pity he never had time to get an education when he was in school. He knows more about his job than many fellows we promote, but he's just not qualified for anything bigger".

Of course, you may be qualified for a better job, but you will put a ceiling on yourself if you do not know how to communicate on paper. You are all right so long as you are talking to people, but when you have to write something you fall on your face.

There are times when you must rely on what you write to do your talking for you. You can't always be there in person. You need the best representative possible to present your case, and your representative may be whatever words you can get out of your fountain pen.

Anybody can learn to write adequately. Nobody expects you to be a professional author. You do not have to be a literary stylist to prepare an orderly, intelligent report. You don't need a large vocabulary to write an understandable letter. But you do have to think logically and clearly about what you propose to say, and then find simple, ordinary words to express your thoughts so that your reader will understand them. There is nothing difficult about that. Writing is simply a matter of discipline; the more you do it, the easier it becomes.

There is an amazing amount of paper work connected with every executive job. You turn in reports on many subjects. Sometimes your written report is simply a record of what you have already told your boss verbally. You write it out so he can refer to it if he wishes to refresh his memory. To give him accurate information you have to know what you are writing about. You must think the subject through, for you can't ad-lib with a fountain pen. That is why it is always so important to prepare an outline before you start. It makes you stick to the topic and forces you to put each item in proper sequence.



The MEMO &The REPORT and their Functions

Reports and memos keep your boss informed, your associates advised, and your subordinates instructed. They should be short and to the point, and they shouldn't be written unless you have something to say.

The way you write is an expression of your personality. There is no single formula for business writing that can be adapted to the abilities of all people. One man may be able to say the same thing with equal clarity and in fewer words than another, but that does not necessarily mean his skill in written communications is better. Julius Caesar's laconic report to the Roman Senate, "I came, I saw, I conquered," is held up as a model of report writing, yet it presupposes the senators knew where he went, whom he saw, and what he conquered. Had they lacked this information his message would have been enigmatic; moreover, it is extremely doubtful that Caesar, with his insistence on facts, would have accepted a similar report from one of his subordinates.

If it takes you two pages to say exactly what you want to say, by all means use two pages. Do not omit important facts or details simply to fit your message into a prescribed mold. If your memos and reports are interesting, alive with facts, and logically presented, you need have no worry that they will not be read. On the other hand, if you are writing on a matter that is of little or no concern to the recipient, your message will get a fast shuffle regardless of its length or the beauty of its prose.

It adds up to one simple rule. When you do business writing adjust the length of your message and the treatment of your topic to the interest of the person who is on the receiving end.


To be effective in your written communications, you must know the various types and how to use them. A memo (short form of memorandum) is simply management's confidential bulletin board. It's the quick telegram you send to a colleague or your boss; the short note containing information on a particular subject; the fast answer to a specific question; a question itself. Almost every day something comes up that requires you to write a short, explanatory note to other executives who may be interested in something you are doing or who should be informed about it. These notes are memos -- flexible, informal, and brief and they should state clearly the basic facts that you want known.

Types of Memos

The topics about which you write memos are innumerable, but roughly they may be classified as follows:

1. The memo of announcement is simply a note or bulletin on a specific subject: for example, an announcement of closing time on Christmas Eve, a staff meeting, a committee meeting, a special event such as a promotion, a transfer, a retirement, the hiring of a new employee. It may also be used to inform executives of organizational changes.

What facts should be given in this memo? Briefly, these: (1) purpose of meeting, (2) time of meeting, (3) place of meeting, (4) topics to be discussed at meeting so staff members could bring pertinent data with them.

2. The memo of query is merely a question on paper. You wish to ask another executive for information about some activity in his department, or about some project in which you are both interested. Why don't you telephone or just go to see him? Maybe you want a record in your files that you inquired, or, for some reason, you desire a written answer to your inquiry. Or the other man is simply out of town. Whatever the reason, if you expect the best answer to your question, written or oral, be sure you phrase it politely. In writing memos of inquiry you will be correct if you follow one basic rule: "Phrase your question so clearly it gets the answer you want."

3. The memo of information is used to inform your employees, your superior, or your associates of things or events they should know about. Follow this simple outline in preparing it and you will get your message across: (1) Describe briefly the problem you solved, the action you took, or the question you answered. (2) Quickly outline the circumstances. (3) Say what you did and why. (4) Finally, give the results of that action.

4. The memo of thanks or congratulations Someone has received a promotion or done an exceptionally good job. Your memo to him is written evidence of your good wishes or appreciation: "Good job. Keep it up." or: "George, that was a fine job. I am aware of the months you spent in research work preparing for this negotiation and the nights you were away from home trying to get this contract settled. It took skillful argument to convince the union we were not in a financial position to afford a pension plan this year. But you had the facts to back your case and the patience to prove it. My congratulations." You could refer specifically to why smb. deserves your congratulations or merits your thanks - it improves communication.

5. The memo to yourself can describe the exact circumstances of your action and the reasons - later on, you do not need to rely on memory. It is like a business diary, an invaluable reference and a precise instrument in coordinating your thoughts with your actions when doing something unusual or important.


The report is a detailed discussion of a particular subject. It is part of your job to prepare reports (weekly, monthly or yearly) describing your activities and the progress you are making on specific assignments. The higher you rise in management, the more reports you will have to write and the more important they will become. Reports constitute a detailed record of your company's business and chart the course of its future operations. You can't separate report writing from your management job - it is a chore from which you can't escape. So, what you need is a plan of attack; what you must know is how to approach the problem.


Fix your objective. You do that when you put down your title.

Prepare your outline. This enables you to concentrate on reaching your objective.

Start with an introduction. This explains why you are writing a report.

Fill in the outline. This is the main body of your report. It will vary according to the nature of your study. You could, for example, describe an equipment, explain how it works, discuss how it could be advantageously used by your company, and cite examples of how other companies have utilized it and with what results.

Give your conclusions or recommendations. This is simply a review of the facts that you have presented together with your proposals for action.

Guideposts to Good Report Writing

1. Be sure your writing is logical, factual, and to the point.

2. Don't omit facts that bear upon the subject.

3. Don't overwhelm the reader with detail. If neces­sary, a lengthy explanation of a particular point can be done in an appendix.

4. Start your report with a brief summary of its content. This gives a quick view of the subject, your conclusions, and your recommendations.

5. Write simply. Select words that you normally use in talking.

6. Keep it short. You aren't writing Gone with the Wind. You are judged not by the weight of your report but by the weight of your thinking.

7. Check spelling, grammar and punctuation. Don't send an illiterate messenger to represent you with top management.

8. Don't be an idea-hopper, and jump from point to point - transition paragraphs should bridge your separate thoughts. Unless you put them in, the reader is likely to get sea-sick riding the roller-coaster of your mind.

9. Get your reports in on time. There is nothing deader than yesterday's newspaper unless it is last month's report just in today.

10. Remember, the report is an important form of executive communications. People may forget what you say but they can't forget what you write. It is on the record.


If you circulate your agenda before the meeting the heading information can serve as a reminder of where and when the meeting is to take place. It also serves as a matter of record to help formulate the minutes.

Approval of previous meeting's minutes and this meeting's agenda should take priority. Allow for double-spacing between major pieces of the agenda in case the meeting decides to insert some item in the agenda or to rearrange the items of the agenda.


Many people who run seminars on meeting efficiency suggest putting a time limit on each item of an agenda. The committee or body can vote to suspend the rules if necessary, but it is not a good idea to do so.

Standing Reports are frequently listed separately from any action that is taken on those reports. The names next to the items on the agenda are the chairs of the various subcommittees or task forces or the members who have asked that this particular item be placed on the agenda.

"Old Business" refers to matters that were left unresolved at a prior meeting. Items may be added by the Chair or by members who ask for these items following a call for agenda. Postponed items are automatically made part of the Agenda at this point -- but not necessarily tabled items. See Rules of Order for bringing a tabled item "off the table."

"New Business" are items that members of the organization have asked the Chair to add to the agenda, or items the chair wants the organization to address. The name of the person responsible for putting the item on the agenda should follow a brief description of the item.

The heading should show where and when the meeting was held and the name of the body or organization that held the meeting.

Members present should list those members present at the meeting using only the first initial and last name of each member. If the membership wants to do so, a list of Members Absent can also be made part of the record. "Others in Attendance" should list those who were at the meeting who are not voting members of the organization or who are invited guests at the meeting.

The agenda can be attached to the minutes. A motion should be recorded that the agenda was approved as published or that certain amendments were made to the agenda before approval.

Under "Minutes" there should be a record of all the suggested (and approved) amendments to the previous meeting's minutes.

Separate individual committee reports from the organization's action on issues raised by the reports.

The organization must determine if minutes should include only motions and actions of the organization or if the recorder should note discussions, etc.

"Other Business" is that point in the meeting when people are allowed to bring up issues not listed in the formal agenda. This might also be a place for members to make announcements. Make sure that all motions and actions are recorded.

Show when the meeting adjourned and announce the date of the organization's next meeting. If appropriate, note the time and place of the next meeting also.

The recorder should sign the minutes before submitting them to the organization membership. If the minutes are circulated elsewhere, that should be designated below the recorder's name:

cc: President Rubenzahl, Deans Douglass and Arrrington

taken from


Types of companies. Find the equivalent definitions to the words/phrases (a-e):

1. limited liability

a. the effective management committee of a limited liability company

2. sleeping partner

b. any presentation of the accounts of a company showing its financial position at a particular moment

3. board of directors

c. a person who has capital in a partnership but takes no part in its commercial and managerial activities

4. financial statement

d. the highest position on a company's board of directors

5. chairman

e. a person who is the only owner of a busi­ness whose manager he also is

6. sole trader

f. this means that no shareholder of such a type of company can be asked to pay more than the nominal value of his shares or the amount of guarantee if the company goes bankrupt

Word Study. Adjectives commonly used with 'JOB'.

1. An 'absorbing' job is one that is very interesting and claims all your attention.

My job is so absorbing that I sometimes forget to have lunch.

I get bored in my job. I need one that is much more absorbing.

2. A 'badly-paid' job is one where you receive less income than the average.

The hotel industry has a lot of badly-paid jobs.

My salary may sound high in absolute terms but I am comparatively badly-paid for the job I do.

3. A 'boring' job is dull and without interest.

I think that being an accountant would be a really boring job.

Would you stay in a boring job if you were really well paid?

4. A 'casual' job is one which is not regular or fixed.

We offer a lot of casual jobs during the Christmas rush.

The unions want us to have fewer casual jobs and more permanent employees.

5. A 'challenging' job is one that is very difficult and tests a person's ability.

It is a very challenging job and we need to find somebody who is tough mentally.

I don't find my job very challenging any more and I need a fresh challenge.

6. A 'dead-end' job is one with no hopes of promotion or advancement.

I was in a dead-end job with no hope of further progress so I left the company.

If people think they are in dead-end jobs, they lose their motivation.

7. An 'exacting' job is one that requires a lot of care, effort and attention.

Being a surgeon is a very exacting job - you can't afford to lose your concentration.

Research jobs are very exacting - you must get every detail right when you are running tests.

8. A 'demanding' job requires a lot of effort from you.

I have a very demanding job. I don't have much spare time.

My job is very physically demanding. I get very tired.

9. A 'part-time' job is one where you do not work 'full-time'.

I only want a part-time job as I have to look after my children.

The company is trying to replace full-time jobs with part-time jobs to save money.

10. A 'menial' job is one with a low social value.

I can only find menial jobs such as cleaning.

He thinks that making the coffee is a menial job and he won't do it.

11. A 'prestigious' job is one that gives the person a lot of respect.

Being Prime Minister is a prestigious job but the salary is not all that good.

Running our New York office is the sort of prestigious job I am looking for.

12. A 'secure' job is one that is safe from redundancy etc.

There are no more secure jobs in this company. Everybody's job is at risk.

I want to make sure that the next job I get is really secure. I'm fed up with all this job insecurity.


Company structure. Fill in the blanks with the words provided:

audited; board; borne; capital; centralized; chairman; done; equity; exchange; extent; geared; General; highly; human; labour; liability (2); losses; made; make; officer; partnership; public (2); report; profits; research; shareholders; sleeping; sole; statements; subordinate; unlimited.

Businesses are organized in different ways. When there is only one owner, the com­pany is called a ... (1) trader. If two or more people associate to form a company they ... (2) up a ...(3). In both sole trader organizations and partnerships the owners supply the ... (4) and as a rule they assume the management of the organization. In partnerships only the active partners take part in the management of the company, whereas the ... (5) partners do not. Both forms of business organizations discussed above have no legal obligation to make periodic ... (6) of accounts available to the public. The owners in both types of companies under consideration have ... (7) liability, that means they are liable to the full extent of their assets for the debts of the company. It is the owners who are entitled to take possession of all the ...(8) the company makes and all losses are ...(9) by them.

On the other hand there are limited ... (10) companies. Such types of companies are either private or public. The former type involves that the ...(11) has not access to the company, the shares are sold to a restricted number of people. Shares are the parts into which the assets of a company are divided. The owners of the company are ...(12) and they hold shares in proportion with the capital they invested in the company. Thus there are minority shareholders and majority shareholders. ...(13), limited companies (abbre­viated plc) are accessible to the public, as they are as a rule quoted on the stock ...(14). The management of limited liability companies is entrusted to a .. .(15) of directors elected by the shareholders in the Annual ...(16) Meeting (abbreviated AGM). The shareholders are entitled to the profit ...(17) by the company and therefore receive dividends. As for ...(18), they are borne by the shareholders, but only to the -..(19) of the amount invested in the business, as this is the meaning of limited ...(20). The shareholders have the right to receive the annual financial statements of the company, accompanied by an inde­pendently-...(21) report.

The capital of a company consists of shareholder's capital {...(22) capital) as well of capital obtained from long-term loans, from banks or other financial institutions. Companies having a high proportion of loan capital are said to be ... (23) geared. On the other hand, if loan capital represents a low proportion in the capital of business, this is said to be lowly ... (24). Companies are organized in a hierarchical or pyramidal struc­ture. The ...(25) holds the highest position in a board of directors. Sometimes he is the chief executive ...(26) (abbreviated CEO). The managing director is next in rank. Senior managers head the different departments of a company such as: marketing, finance, pub­lic relations, ...(27) resources, ...(28) and development etc. According to some sources, however, works managers and sales managers should be considered members of middle management. The middle management consists of assistant managers who .. .(29) to the senior managers. If someone reports to somebody else, he is the ...(30) of the latter. Big companies have central offices or headquarters and branches in the country or abroad. If decisions are taken at the headquarters they are said to have a ...(31) management. If decisions are left to the competence of branch managers they are said to have a decen­tralized management.

In presenting a company as a rule reference is made to the location of the headquarters and branches or subsidiaries, the amount of business ...(32), or turnover, size of ...(33) force, type of products or services offered.


Cuvinte cheie: salutation, paragraph, proofreading


Business letters are formal paper communications between, to or from businesses and usually sent through the Post Office or sometimes by courier. Business letters are sometimes called "snail-mail" (in contrast to email which is faster). This lesson concentrates on business letters but also looks at other business correspondence. It includes: letter, memo, fax, email.

Who writes Business Letters? Most people who have an occupation have to write business letters. Some write many letters each day and others only write a few letters over the course of a career. Business people also read letters on a daily basis. Letters are written from a person/group (e.g. business, job applicant, citizen, employer, staff member), known as the sender to a person/group (e.g. business, consumer, company, government official, employee), known in business as the recipient.

Why write Business Letters? There are many reasons why you may need to write business letters or other correspondence: to persuade, to inform, to request, to express thanks, to remind, to recommend, to apologize, to congratulate, to reject a proposal or offer, to introduce a person or policy, to invite or welcome, to follow up, to formalize decisions. Read through the following pages to learn more about the different types of business letters, and how to write them. You will learn about formatting, planning, and writing letters, as well as how to spot your own errors. These pages are designed to help you write business letters and correspondence, but they will also help you learn to read, and therefore respond to, the letters you receive. You will also find samples that you can use and alter for your own needs.

Planning a Business Letter

A business letter is not a place for chit-chat. Unlike business conversations where a certain amount of small talk is used to break the ice, a business letter should be clear and concise. By taking time to plan your letter, you will save time in the writing and proofreading stages. During the planning stage, ask yourself a few simple questions. Jot down your answers to create an outline before you start writing.

Who am I writing this letter to? Identifying your audience always comes first. Are you writing to more than one person, to someone you don't know, or to someone you have known for a long time? This will help you determine how formal the letter needs to be. You may need to introduce yourself briefly in the letter if the recipient does not know you. You may also need to find out the updated address and title of the recipient. This is a good time to confirm the correct spelling of first and last names.

Why am I writing this letter? The main reason for the letter should be understood from the subject line and first few sentences. You may cover more than one thing in one business letter, but there will almost always be a general reason for the letter. Identify your main goal and what you hope to accomplish. Review some example reasons in "Why people write business letters".

Are there specific details I need to include? Gather any dates, addresses, names, prices, times or other information that you may need to include before you write your letter. Double check details rather than relying on your memory.

Do I require a response? Many types of business letter require a response. Others are written in response to a letter that has been received. Before you start writing, determine whether or not you require an action or response from the recipient. Your request or requirement should be very clear. In some cases you may even need to provide a deadline for a response. If you do require a response, how should the recipient contact you? Indicate this information clearly as well. You may want to provide more than one option, such as an email address and a phone number.

How can I organize my points logically? Think about how you would organize your thoughts if you were speaking rather than writing to the recipient. First you would introduce yourself. Second you would state your concern or reason for writing. After the main content of your letter you would include information on how you can be contacted. The end of the letter is also a place to express gratitude, wish good-luck, or offer sympathy. Here is an example outline:

Writing a Business Letter

The term "business letter" makes people nervous. Many people with English as a second language worry that their writing is not advanced enough for business writing. This is not the case. An effective letter in business uses short, simple sentences and straightforward vocabulary. The easier a letter is to read, the better. You will need to use smooth transitions so that your sentences do not appear too choppy.

Salutation First and foremost, make sure that you spell the recipient's name correctly. You should also confirm the gender and proper title. Use Ms. for women and Mr. for men. Use Mrs. if you are 100% sure that a woman is married. Under less formal circumstances, or after a long period of correspondence it may be acceptable to address a person by his or her first name. When you don't know the name of a person and cannot find this information out you may write, "To Whom It May Concern". It is standard to use a comma (colon in North America) after the salutation. It is also possible to use no punctuation mark at all. Here are some common ways to address the recipient:

  • Dear Mr Powell,
  • Dear Ms Mackenzie,
  • Dear Frederick Hanson:
  • Dear Editor-in-Chief:
  • Dear Valued Customer
  • Dear Sir or Madam:
  • Dear Madam
  • Dear Sir,
  • Dear Sirs
  • Gentlemen:

First paragraph

In most types of business letter it is common to use a friendly greeting in the first sentence of the letter. Here are some examples:

  • I hope you are enjoying a fine summer.
  • Thank you for your kind letter of January 5th.
  • I came across an ad for your company in The Star today.
  • It was a pleasure meeting you at the conference this month.
  • I appreciate your patience in waiting for a response.

After your short opening, state the main point of your letter in one or two sentences:

  • I'm writing to enquire about...
  • I'm interested in the job opening posted on your company website.
  • We'd like to invite you to a members only luncheon on April 5th.

Second and third paragraphs

Use a few short paragraphs to go into greater detail about your main point. If one paragraph is all you need, don't write an extra paragraph just to make your letter look longer. If you are including sensitive material, such as rejecting an offer or informing an employee of a layoff period, embed this sentence in the second paragraph rather than opening with it. Here are some common ways to express unpleasant facts:

  • We regret to inform you...
  • It is with great sadness that we...
  • After careful consideration we have decided...

Final paragraph

Your last paragraph should include requests, reminders, and notes on enclosures. If necessary, your contact information should also be in this paragraph. Here are some common phrases used when closing a business letter:

  • I look forward to...
  • Please respond at your earliest convenience.
  • I should also remind you that the next board meeting is on February 5th.
  • For further details...
  • If you require more information...
  • Thank you for taking this into consideration.
  • I appreciate any feedback you may have.
  • Enclosed you will find...
  • Feel free to contact me by phone or email.


Here are some common ways to close a letter. Use a comma between the closing and your handwritten name (or typed in an email). If you do not use a comma or colon in your salutation, leave out the comma after the closing phrase:

  • Yours truly,
  • Yours sincerely,
  • Sincerely,
  • Sincerely yours
  • Thank you,
  • Best wishes,
  • All the best,
  • Best of luck
  • Warm regards,

Writing Tips

  • Use a conversational tone.
  • Ask direct questions.
  • Double-check gender and spelling of names.
  • Use active voice whenever possible.
  • Use polite modals (would in favour of will).
  • Always refer to yourself as "I".
  • Don't use "we" unless it is clear exactly who the pronoun refers to.
  • Rewrite any sentence or request that sounds vague.
  • Don't forget to include the date. Day-Month-Year is conventional in many countries; however, to avoid confusion, write out the month instead of using numbers (e.g. July 5th, 2007)

Proofreading a Business Letter

"Proofread" means to read a text carefully to check it for errors and general tone. You should always proofread a business letter before sending it. The most important thing when proofreading any document is to read the text out loud. Print the letter rather than read it on your computer screen. Make notes where your letter sounds awkward. If possible allow one day between writing and sending your letter. You are more likely to spot any typos or other errors with a fresh eye. (If you have to respond to an important email on the same day, write it in the morning and proofread it after lunch.) Use a spell-check function on your computer program if possible. Computer programs are useful for pointing out passive sentences, subject-verb agreement problems etc. However, be careful when using grammar-check programs. Sometimes they will highlight a phrase that is not actually an error. If you are in doubt, try to simplify the sentence by using a sentence structure that you are more comfortable with. If possible, ask another person to double-check your letter. You could offer to return the favour for your colleague and become proofreading partners. You can even use standard proofreading marks to make it easier to explain necessary changes. Type "proofreading marks" into an internet search engine, and send the list to your fellow proofreader.

Business Letters Vocabulary Quiz

1. Before you seal and send your letter, make sure to . it.

a. punctuation b. proofread c. sensitive d. transition

2. As soon as your certified letter reaches the . you will be notified.

a. recipient b. margin c. logo d. salutation

3. Choose . if you want to put the date and closing in the center of the page.

a. justified b. modified block format c. block format d. spelling

4. Set off the list of "Do's and Don'ts" by using . .

a. body b. letterhead c. bullets. d. formal

5. The envelope indicated that there was . , but in fact there was only a letter inside.

a. an enclosure b. a sender c. a salutation d. an indent

6. The . of the first paragraph was optimistic, so I wasn't expecting the bad news in the middle.

a. tone b. active voice c. direct mail d. punctuation

7. I decided not to interview her, because her cover letter contained very poor . .

a. on arrival notation b. block format c. single spacing d. grammar

8. The . about the meeting was posted on the bulletin board for everyone to read.

a. memo b. heading c. sender d. junk mail

9. Our address and phone number are shown on our . .

a. letterhead b. snail mail c. postage d. salutation

10. In block text format, you do not . each paragraph.

a. indent b. transition c. punctuation d. margin

Business Letter Self-Assessment Test. Are the following statements True or False?

1. With block format, all new paragraphs are indented.

2. In business letters a salutation is generally followed by a comma or a colon.

3. Business letters should be simple and easy to read.

4. It is advisable to wait a day between writing and sending an important letter.

5. The date on a business letter should appear after the salutation.

6. An "Enclosure" note should appear below the typed name of the sender at the end of the letter.

7. The first paragraph of a business letter should be comprised entirely of "small talk".

8. Contact information generally appears in the closing paragraph of the letter.

9. Identifying the audience is one of the first steps in planning a business letter.

10. It is considered standard formatting to include the recipient's address before the salutation in a business letter.


1. Business Expressions

1. I've got to learn English fast. I need a real ________ to get me up to speed quickly.

   a) crash course b) closing a deal c) coining it in d) chew this over

2. The genuine results for the year were pretty bad but thanks to ________ we made them look OK!

   a) copped out b) cog in the machine c) keep a cool head d) creative accounting

3. You did it too fast. You always make mistakes when you try to ________ .

   a) cut corners  b) closing a deal c) coining it in d) chew this over

4. I'm sure a lot of our future income is going to come from the Internet and other ________ activities.

   a) copped out b) cyberspace c) keep a cool head d) chew this over

5. I'm not an important person in this company. I'm just a lowly ________ .

   a) keep a cool head b) closing a deal c) coining it in d) cog in the machine

6. Their products are really selling well. They must be ________ .

   a) copped out b) closing a deal c) coining it in d) chew this over

7. Stop getting so angry. You really need to ________ and control your temper.

   a) closing a deal b) chew this over c) copped out d) keep a cool head

8. I cannot decide straight away. I'll need to ________ with my colleagues .

   a) cog in the machine b) chew this over c) copped out d) closing a deal

9. He isn't a very good salesman. He has a lot of problem when it comes to ________ .

   a) cog in the machine b) copped out c) cyberspace d) closing a deal

10. She didn't even try to raise the matter at the meeting. She just ________ completely.

   a) crash course b) copped out c) cut corners d) creative accounting


Put each of the following words or phrases into its correct place in the text below.

banks, beads, buy, coins, change, currency depositing, earn, exchange rate, goods, investments, money, paper bills, savings accounts, sell, shells, value.

Money is what people use to.....things. People spend money on .... and services. Many people save part of their money in a bank. People ........ money by performing services. They also earn money from......., including government bonds, and from....

......can be anything that people agree to accept in exchange for the things they........or the work they do. Ancient peoples used such varied things as........, and cattle as money. Today, most nations use metal coins and......Different countries' ...... and bills look different and have different names.

A person can..........his money for the money of any country according to the ...............

Usually, such rates are set by the central.......of a country. The..........of a coun­try's ...........may change, depending on the economic and political conditions in that country.


Cuvinte cheie: resume, CV, covering letter


1. Introduction When you apply for a job, most employers ask for 2 important documents: a CV or resume and a covering letter. Your CV and letter are usually the first impression that an employer has of you. And because an employer may have hundreds of job applications to consider, you have about 15 seconds to make sure that first impression is a good one.

Why you need a good CV? A good CV is one of your most important tools in the search for employment. Your CV's job is to get you an interview. To do this, it must: attract, inform, persuade, sell.


A CV is NOT:


A CV is:

  • a book.
  • an obstacle.
  • a tombstone.
  • boring or difficult to read.
  • your life story or autobiography.
  • a catalogue of your personal opinions.
  • a list of problems with past employers.
  • short.
  • seductive.
  • an important document.
  • interesting and easy to read.
  • a list of benefits for the employer.
  • as much about the employer as about you.

A CV answers the question "Why?"

2. Why you need a good COVERING LETTER? Your covering letter must sell your CV. Before looking at your CV, an employer usually reads your covering letter. If it is badly-written, or untidy, or difficult to read, your CV will probably go into the nearest bin. If it is well-written, attractive, easy to read and persuasive, the employer will turn to your CV. Your Covering Letter is a sales letter. When you send your CV to apply for a position, you should also include a short letter. This letter is called a covering letter or cover letter. A covering letter sent with a CV/resume is known as a letter of application. Your letter of application is a sales letter. The product it is selling is your CV.

CONTENT. The reader of your letter does not want to waste time on unnecessary details. You should therefore design your letter to be easy to read. It should be short, concise and relevant. It should not be too formal or complicated.

Your letter should: 1. confirm that you are applying for the job, 2. say where you learned about the job, 3. say why you want the job, 4. say why you would be a benefit to the company, 5. request an interview.

FORMAT. Here is the typical format for your covering letter:

  1. Your address - telephone - fax - email Put your address and telephone number, fax and/or email address at the top in the centre OR on the right.
  2. Date
  3. Destination name and address This is the name of the person to whom you are writing, his/her job title, the company name and address. This should be the same as on the envelope.
  4. Reference Any reference number or code given by the employer in their advertisement or previous letter.
  5. Salutation (Dear . . .) A letter in English always begins with "Dear.", even if you do not know the person.
  6. Subject The subject of your letter, which for a job application is normally the Job Title (e.g. "Sales Manager").
  7. Body The letter itself, in 3 to 6 paragraphs
  8. Ending (Yours . . .)

Yours sincerely, Yours faithfully, Yours truly

  1. Your signature
  2. Your name Your first name and surname, for example: Mary Smith, James Kennedy
  3. (Your title) If you are using company headed paper, write your Job Title here. If you are using personal paper, write nothing here.
  4. Enclosures Indicate that one or more documents are enclosed by writing "Enc: 2" for two documents, for example.

In the English-speaking world, an employer would usually prefer to receive a letter of application that is word-processed (that is, produced on a computer and printed). A hand-written letter could be considered unprofessional.

Your CV or RESUME Your CV must get you a job interview. CV stands for the Latin words Curriculum Vitae, which mean: the course of one's life. A CV is also called a résumé, resumé or resume (especially in American English). Your CV is a summary of your professional/academic life until now, and it usually concentrates on your personal details, education and work experience. To do this, your CV must be: clear, well-organised, easy to read, concise, relevant to the job offered.

CONTENT. You should include everything that is relevant to your employment or career and nothing that is irrelevant. There are usually 5 general headings of information to include:

Personal details: name, address, email and telephone number (and sometimes nationality, age/date of birth and marital status)

Objective: a headline that summarises the job opportunity you are seeking

Work experience: your previous employment in reverse chronological order - with most detail for your present or most recent job

Education: details of secondary and university education - including the establishments and qualifications

Personal interests: demonstrating that you are a balanced, responsible member of society with an interesting life outside work.

Sometimes, you may need to give additional information for a particular job or because you have special qualifications.

FORMAT. Your CV should be word-processed, for several reasons. Firstly, in the English-speaking world a hand-written CV would be considered unprofessional. Secondly, many recruitment agencies and some employers like to electronically scan CVs. Thirdly, it will be much easier for you to update and modify your CV to target it to a specific employer. It is usually best to limit your CV to a maximum of 2 pages. You can usually put everything you need to get an interview on 1 or 2 pages. If you put more than this, the employer has too much to read. In addition, if you put everything in the CV, you will have nothing new to say at the interview. There are basically 2 standard paper sizes, depending on the part of the world: A4 (297 x 210 millimetres) - used largely in Europe, including the United Kingdom or US Letter Size (8 1/2 x 11 inches) - used largely in the United States.

Remember that several people may read and handle your CV. It will also be an important document during your interview. Choose a good quality, fairly heavy paper so that it will remain in good condition at all times. Choose an easy-to-read typeface. Typefaces are designed for specific purposes. The standard typefaces Times New Roman or Arial are perfect for your CV. Not too small, not too large! A size of 10 or 12 point would be appropriate.


4. Vocabulary -- SIMPLICITY AND CLARITY. If you want people to read your CV, your language must be simple and clear: use short words and short sentences. Do not use technical vocabulary, unless you are sure that the reader will understand it. Talk about concrete facts ("I increased sales by 50%"), not abstract ideas ("I was responsible for a considerable improvement in our market position"). Use verbs in the active voice ("I organised this exhibition"), not passive voice ("This exhibition was organised by me").

POWER WORDS. Certain words are used frequently by recruiters in their job descriptions. You can study recruiters' advertisements and job descriptions and try to use these words in your CV and covering letter. The most powerful words are verbs. And the most powerful verbs are action verbs. (Action verbs describe dynamic activity, not state). So you should use plenty of action verbs matched to your skills, and use them in the active form, not the passive form. Which of these two sentences do you think is the more powerful? Active form: I increased sales by 100% or Passive form: Sales were increased by 100%.

Here is a list of typical action verbs categorised by skills:

Communication skills:

address, arbitrate, correspond, draft, edit, lecture, mediate, motivate, negotiate, persuade, present, publicise, reconcile, speak, write

Management skills:

assign, attain, chair, co- ordinate, delegate, direct, execute, organise, oversee, plan, recommend, review, strengthen, supervise, train

Research skills:

collect, critique, define, detect, diagnose, evaluate, examine, explore, extract, identify, inspect, interpret, investigate, summarise, survey

Technical skills:

assemble, build, calculate, devise, engineer, fabricate, maintain, operate, overhaul, program, remodel, repair, solve, upgrade

Creative skills:

conceptualise, create, design, fashion, form, illustrate, institute, integrate, invent, originate, perform, revitalise, shape

Financial skills:

administer, allocate, analyse, appraise, audit, balance, budget, calculate, control, compute, develop, forecast, project

Sales skills:

sell, convert, close, deal, persuade, highlight, satisfy, win over, sign

Teaching skills:

advise, clarify, coach, elicit, enable, encourage, explain, facilitate, guide, inform, instruct, persuade, stimulate, train

2. Covering letter:

1032 West 8 Street

Erie, Pennsylvania 34567

January 15, 1999

Mrs. Alfreda Minton

Manager of Sales Division

Speedo Sump Pumps

233 Grant Road

Ellington, Connecticut 06044

Dear Mrs. Minton:

I just read your classified ad in National Sales Opportunities about a position in sales management at Speedo Sump Pumps. I would very much like to apply for that position as I feel I am well qualified to lead Speedo Sump Pump's sales force into the next millenium.

I have read a great deal about the growth of Speedo Sump Pumps in Small Business Quarterly, and I am very excited about the possibility of working for one of the most dynamic companies in New England. I know a great deal about sump pumps, having studied them extensively in college. I would also like very much to return to New England, where my family has its roots and where I still have many relatives. My resume is enclosed.

I will be in the Ellington area next week, and I'm hoping I could stop in to meet you and arrange an interview. I would be available that entire week. I shall give you a call at the beginning of the week.


Charles Dogsbreath

Charles Dogsbreath

3. Thank you note after an employment interview:

1032 West 8 Street

Erie, Pennsylvania 34567

January 15, 1999

Mrs. Alfreda Minton

Manager of Sales Division

Speedo Sump Pumps

233 Grant Road

Ellington, Connecticut 06044

Dear Mrs. Minton:

Thank you very much for the interview and courtesy extended to me last week at

Speedo Sump Pumps. I enjoyed meeting your task force very much and feel confident that I could fit nicely into your organization and your plans for sales growth at Speedo.

I feel that my academic background and my experience selling industrial pumps for Continental Pumps of Eriez, Inc., for the last two years makes me highly qualified for the position you are offering.

As you requested, I have asked the foreman of our production facilities to send you details on my plan for the integration of sales and production personnel training.

I am looking forward to hearing from you again. I should be available at the above address and phone number for the next three weeks.

Yours truly,

Charles Dogsbreath

Charles Dogsbreath

Writing a thank you note after an employment interview is an important policy for applicants to follow. Not only is this a gesture of courtesy, but writing such a note will reaffirm your interest in working with the organization. In addition, a thank you note may well reconfirm your name in the interviewer's memory and can serve to reiterate any important points you made during the interview.

Tone is everything in this letter -- confidence, not desperation!


Match the parts of business report given in list A with definitions in B.

1. title page

a. lists in order the members and titles of the chapters in the report and the pages on which they begin

2. preface

b. the list of tables precedes the list of figures

3. table of contents

c. will contain the name or title of the report, the name and title of the organization for whom it was written and the date it was submitted

4. list of tables and figures

d. is a supplementary section

5. body of the report

e. is also called the foreword

6. bibliography

f. a listing of subjects

7. appendix

g. is arranged alphabetically by names of authors

8. index

h. the main, central part


Translate into English.

Confirm primirea scrisorii dumneavoastra Din ziua de 15 a lunii curente.

Ar fi trebuit sa efectuati comanda mai devreme.

Suntem de acord sa va acordam un rabat de 5%.

Mi s-a cerut sa depun un avans de 25% odata cu comanda.

Lada avea marcajul "fragil".

Bunurile nu sunt în conformitate cu mostra.

V-am sfatuit sa anulati comanda.

Anexam o copie a facturii.

Vom fi fericiti sa executam comanda dumneavoastra.

Ambalajele goale nu sunt returnabile.

Toate cumparaturile trebuie platite în numerar.

Va trebui sa prezentati recipisa.

Ati înregistrat comanda mea?

Termenele de livrare nu au fost respectate.

Ei tocmai au deschis filiala în provincie.

Producatorii cauta noi piete de desfacere.

Vânzatorii cu amanuntul independenti sunt liberi sa-si aleaga furnizorii.

În unele cazuri, angrosistul are grija de sortare si ambalare.

Cifra de afaceri a acestei case de comenzi prin corespondenta s-a dublat în doi ani.

Noi cumparam în vrac si pe credit.

Exista un loc de parcare în apropierea centrului comercial.

Rezultatele sondajului sunt dezamagitoare: 50% dintre persoanele chestionate nu auzisera niciodata de produsul nostru.

Plata va trebui efectuata în doua saptamâni de la primirea facturii.

Sunati la numarul nostru gratuit.

Reducerile de iarna ne-au permis sa ne lichidam stocurile.

Vânzarile la domiciliu sunt înca înfloritoare.

Am modificat configuratia magazinului: casele se afla acum unde era înainte raionul de fructe si legume.

Magazinul acorda un rabat de 20% pentru orice cumparare care depaseste 100 de dolari si o reducere suplimentara de 5% pentru plata în numerar.

Anexez ultima noastra lista de preturi incluzând toate taxele.

Este mai usor sa-ti pastrezi clientii decât sa-ti pierzi timpul încercând sa gasesti altii.

. Are You Prepared for an Interview?

Cuvinte cheie: Preparation - questions, answers; non-verbal communication - body language, posture.


Interviews can be scary experiences and the only way to quell your fears is to make yourself ready. The best place to start is by finding out as much about the company as possible. Think of the questions you're likely to be asked and brainstorm some answers.

It's also a good idea to get some practice under your belt.

Before you go into the interview visualise success. Imagine yourself sitting there being cool, calm and collected and answering all the questions.

It's unlikely you'll get the first job you're interviewed for, or that you'll be offered a job after just one interview, so you're probably going to have to go through the process all over again. What's more, unless you stay in the same job for the rest of your life, you'll face many more nerve-racking interviews during the course of your career. The good news is that you will get better at it - practice doesn't make perfect, but it helps. And comfort yourself with this thought: in a few years' time it might be you sitting on the other side of the desk.

When you prepare for an interview it's important not just to practise what you have to say, but how you say it. The best way to see how you appear to others is to practise in front of a mirror. If you can, you should videotape yourself and ask friends for feedback. If there's nobody around, practise with your cat. The more prepared you are, the more relaxed and confident you'll feel - and appear.

When it comes to the interview itself, adopt an open posture. Sit up comfortably and lean slightly forwards so you look alert and attentive. Breathe slowly. And make sure your clothes aren't too tight: it won't give a good impression if you make a gesture and your jacket buttons fly off. Just remember the mnemonic 'ROLE', which stands for relaxed, open, leaning and eye contact.

There is no point attempting to lie - or exaggerate - in an interview. Just be yourself. If you say what you mean and mean what you say your verbal and non-verbal communication will match. Any interviewer worth his salt is interested in who you really are.

Answer the following questions:

Do men and women have equal job opportunities in Romania?

How would you feel working for a female manager?

Are there many unemployed people in our country? Who? Young? Old? People in the north or south (east or west)? How can they find jobs?

Very often in our country children do not agree with their parents' ideas of success. Do you and your parents (or children) agree about what kinds of success are important?


Translate into English:

Directorul pentru dezvoltarea afacerilor (Business Development Director) raporteaza directorului general având responsabilitatea de a fi informat cu noutatile (keep abreast of) de pe piata internationala si lucreaza cu o echipa clasa I pentru stabilirea obiectivelor strategice în vederea obtinerii unei cresteri semnificative.

El trebuie sa fie un operator practic (down-to-earth), cu deprinderi analitice necesare identificarii si îndeplinirii unor probleme majore atât în Marea Britanie, cât si în strainatate.

Afacerea a înregistrat (to have a track record of) cresteri si profituri consistente, punând accentul pe dezvoltare, service si oferte de produse creative.

Candidatul care va reusi (the successful candidate), este asteptat sa contribuie activ la dezvoltarea strategica si viitoare a filialei.

2. In preparing for the interview you:
a) Research the company, think about what questions they'll ask and memorise appropriate answers
b) Re-read your application and double check the job description
c) Fantasise about how you'll spend your first pay cheque

2. You get to the interview:
a) Five minutes late (but only because the tube broke down)
b) Five minutes early (you planned for possible delays)
c) 15 minutes early, with your boyfriend/girlfriend/best friend there for moral support

3. The interviewer goes to shake hands, you:
a) Make eye contact and offer a firm grip
b) Squeeze their hand so tightly their eyes pop out
c) Refuse their hand on the grounds of personal space

4. To start with, the interviewer seems nervous and appears inexperienced. You:
a) Ruthlessly deploy your knowledge of body language, sitting back with steepled fingertips, and wait for them to get their act together
b) Ignore their insecurity as best you can
c) Try to put the interviewer at ease; you smile and ask a few gentle questions

5. Asked about your past experience, you:
a) Reveal you've only had two sexual partners but spent a long time with each of them, arguing that quality is better than quantity
b) Explain the skills you've developed through university projects, work placements and other responsibilities.
c) Recite what (you hope) it says on your CV

6. Asked about your weaknesses, you:
a) Roll up your shirtsleeves to reveal a rather unimpressive bicep
b) Admit to a tendency to want to get everything done by yesterday
c) Tell them that you struggle with anything technical

7. Asked about any personal strengths, you:
a) Say you're very interesting
b) Recount last Saturday's heroic drinking session
c) Explain how your communication abilities help team dynamics

8. Asked about your greatest achievement to date, you reply:
a) Coming second in the school egg and spoon race
b) Winning employee of the month on a work placement scheme
c) Getting through university

9. Asked why you want to join the company, you:
a) Go on about how legendary the Christmas parties are said to be
b) Detail the company's successes and its plans for the future
c) Simply state it would be a great opportunity

10. Asked about your willingness occasionally to work overtime, you:
a) Say no; overtime is overrated, and besides you've got a busy social life
b) Agree instantly; you don't want to appear uncommitted
c) Say yes; but only if absolutely necessary to meet a deadline

11. Asked about any hobbies, you:
a) Talk about your interests and how they improve your skills
b) Refer to the Masonic handshake you gave them earlier
c) Say you like reading books and going to the cinema

12. Asked if you have any questions, you reply:
a) Where does everyone meet for after work drinks?
b) What are my career prospects with the company?
c) How often are pay rises awarded?

13. To ensure you make a lasting impression you:
a) Lather yourself with aftershave or drench yourself with perfume
b) Finish on a positive note about your suitability for the position
c) Tell them how much you really, really want the job

10. Communications

Cuvinte cheie: communicating; listening; giving orders


Is Everybody Listening? Effective communications is the ignition switch to affirmative group dynamics. The successful leader of any activity - business, education, politics or war is a skilled communicator, able to express his ideas accurately and precisely. He understands that talking to people is the way to get things done, and that communications goes beyond mere verbal expression. He communicates by his example and by his attitudes. Words are the symbols of thought and of emotion. As such they are the tools of leadership.

How you communicate depends on your personality. Some men have greater natural gifts than others, but all intelligent men can develop their ability to put their thoughts into words and their words into action. It just takes practice.

When you give an order or explain a new procedure, you are communicating. The report you prepare for your boss on the activities of your department, the letter you send to a customer about why a shipment has not arrived in time, the memo you pass along to a colleague informing him of a plan you expect to propose at the next staff meeting, all are methods of communicating.

Knowing how to listen is the basis of effective person-to-person communications. If you listen properly you tear down invisible walls that may stand between you and your employee. You establish the kind of employee relations climate that makes people receptive to your ideas, your directions, or your orders, for you have shown by your attitude that you are approachable and sympathetic to their suggestions and problems. Listening is the Siamese twin of talking. It's your chance to learn the other fellow's point of view, and is essential to sound communications.

To get the most out of talking to people you must be sure you have established the right atmosphere for communications before you attempt to put an idea across. You do this by listening. If you know how to listen you eliminate the unconscious resistance someone else may have to you and your ideas.

The Art of Communicating Orders Giving orders requires real communications ability. Orders frequently miscarry because they are misunderstood, sometimes with tragic results.

The Ten Commandments for Communicating Orders This check list may help you improve your ability to communicate your orders. Check your methods against it when you issue instructions to see if you are neglecting anything. If you are, you can quickly correct your mistakes and tremendously increase your skill in this area of communications.

1. Be completely familiar with the assignment yourself before you attempt to tell a subordinate to carry it out.

2. Make certain that the employee to whom you give the assignment understands its objectives and the methods you wish him to use in accomplishing his job.

3. Take care in selecting the employee whom you wish to act on your order. Be certain that he has the ability, intelligence and experience to fulfill his task. Be equally careful in choosing your method of communicating your directions.

4. Speak distinctly. Keep your orders precise and accurate, but don't overload your subordinate with a mass of detail.

5. Make certain that the employee comprehends his instructions. The job will be done quicker and more efficiently if your subordinate knows what you want done before he begins his work. It doesn't hurt to repeat your directions or to ask the employee to repeat them to make sure they are understood.

6. Don't give too many orders at one time. It only confuses. If your instructions are complicated or involved, write them out. This helps you think through the problem logically and is of tremendous help to the employee.

7. Make sure your orders are reasonable and that you have not put too heavy a burden on the subordinate. You will get very little done if you give a man more work than he can do.

8. If your subordinate is having difficulty understanding your orders, don't get mad, curse, or be sarcastic to emphasize your points. Profanity or abuse are barriers to communications.

9. Be sure you adapt your manner to the individual. You will get the best results if you fit your method to the man. That is the human relations of communications.

10. Be sure your orders do not conflict with previously issued orders, and that they follow the proper lines of authority. Contradictory directions are the bugaboo of good communications.


1. Complete the following sentences using suitable words from the box below.

Comma figures street abbreviations

ZIP punctuation letterhead addresses


If the address includes an apartment number or room number, type these elements on the same line as the .(1).. State names should be abbreviated in the address according to the two-letter state .(2).. Type names as they appear in the ..(3).. House numbers, with the exception of one, are typed in ..(4).. When street names are numbers, write out names below ten and use figures for names above ten. When figures are used in street .(5)., it is not necessary to use endings such as st.,d.,nd., or rd after the numbered street name. Type the city name, state name, and .(6). Code on the same line. Type the city name in full, followed by a ..(7). , and then the two-letter state abbreviation. There is no .(8). after the state abbreviation.

2. Complete the following table, providing guidelines for salutations when a letter is addressed to a firm or on individual. Use one word only in each space.



a. Firm's name

a. Gentlemen

b. Firm's name and an attention line

b. ____________

c. Married woman, a widow, or a divorced woman who uses the title Mrs.

c. ________ _______ Smith

d. _____________

d. Dear Miss Smith

Dear Ms. Smith

e. Unknown whether woman is married or single

e. ________ ________ Smith

f. Group composed of men and women

f. _______ and _______

g. Married couple

g. ________ and ________ Smith

h. Man and a woman

h.       Dear Mr. Smith and Mrs. Brown

or _______ and ________


Test yourself - What Is Your Conference Communication I.Q.?

The executive who can conduct an effective conference has learned his communications job. He understands the importance of group ideas and has imagination and boldness. Anybody can learn to be an effective conference chairman. All you require is good common sense and leadership. This test will enable you to evaluate your conference ability: There are ten Yes/No questions. If you can answer each of them with "yes" you are a communications expert. Answer them honestly, for what you really want to discover is where your weaknesses are so you can improve yourself. You get ten points for each affirmative reply. 70 is passing.

1. When I serve as chairman of a conference, I plan a concise, thoroughly thought-out conference agenda and stick to it. I never try to play by ear.

2. I know my subject, even if I must spend time in advance in preparation.

3. I keep the meeting short, and I never take up the time of the conferees by permitting the discussions to wander.

4. I stick to the matter at hand and get everyone's opinion even if I have to dig it out of the "Silent Sams."

5. I understand the objectives we are trying to reach at the conference, and make certain that its other members have an equally clear understanding.

6. As chairman I'm not a smart aleck. I don't hog the floor or ask all the questions, then give the answers. I never deride the suggestions of others because my greater knowledge of the subject makes me think these ideas are foolish. I don't distort an associate's statement or destroy it with a half-truth. I know that I may get a laugh if I make an associate lose face, but I also know I won't win any friends that way. I try to set a high standard of performance by my own example, for I realize if I understand what I am talking about the other executives will come to the conference prepared also.

When I attend a conference, I don't forget that I share in the responsibility for its accomplishments. I don't leave the work to others by remaining silent, and then going along with the majority. I study the subject and make constructive suggestions.

8. I don't use the conference as a debating society or a forum which permits me to show how clever I am. I know that if I am loud and belligerent I simply build up resistance to my ideas.

9. I listen. When someone else is talking I pay attention to what he is saying, not thinking up what I'll say as soon as I get the floor.

10. I don't try to knock down the other fellow's idea to prove my ability. I know the negativist is sometimes useful, and that the critic has a function, but I also know that a conference has a positive purpose. It is my job as a member of it to help my colleagues reach certain objectives. When I criticize a recommendation of an associate I try to offer a better suggestion or to plug the holes in the recommendation that has been made.

11. Meetings in English

Cuvinte cheie: agenda; minutes / minute-taker; followup


Whether you are holding a meeting or attending a meeting, it is important that you understand key English phrases and expressions related to meetings. A successful meeting has no surprises. With proper preparation and careful organization, a meeting can run smoothly. The most typical complaint about meetings is that they run too long. Meetings that run longer than necessary can be very costly to a company or business. As the famous business expression says: Time is money. Setting goals and time limits, keeping to the agenda, and knowing how to refocus, are key components of an effective meeting. This may sound simple in your own native language, but it is a little trickier when you or the participants do not speak fluent English. These pages will help you hold or attend a meeting with success. Review the vocabulary, read through the lessons, and then check your understanding.

Preparing for a Meeting

Calling a Meeting: Some meetings are announced by e-mail, and others are posted on bulletin boards. If a meeting is announced at the end of another meeting, it is important to issue a reminder.

Writing an Agenda In order to keep the meeting on task and within the set amount of time, it is important to have an agenda - indicate the order of items and an estimated amount of time for each item.

Opening a Meeting: Small Talk Whether you are holding the meeting or attending the meeting it is polite to make small talk while you wait for the meeting to start. You should discuss things unrelated to the meeting, such as weather, family, or weekend plans.

Objectives Some people who hold meetings prefer to pass around copies of the agenda, and others will post a large copy on a wall, or use an overhead projector.

Following the Agenda; Taking the Minutes Anyone may be assigned to take the minutes at a meeting.

Closing a Meeting: Wrapping Up There are different reasons why a meeting comes to an end. Time may run out, or all of the items in the agenda may be checked off. Some meetings will end earlier than expected and others will run late. The odd time, a meeting may be cut short due to an unexpected problem or circumstance. Here are a variety of ways to adjourn a meeting:


1. Fill in the gaps with words from the box:

employees to spend adventures

itineraries  short free

customers  sincere comfort



Excitement and .(1).. are the fruits of secretarial work in the travel industry. Airlines, resorts and travel agencies often offer ..(2). or reduced rates in transportation, hotel accomodations, and tours to their .(3). . The job requires hard work. One must have a .(4).liking for and desire to help people. You are helping them .(5)... the money for which they have often worked hard all year.

A secretary in the travel industry must know geography well, be able to read different companies' timetables, plan ..(6), and make .(7).through computer. In .(8).., you must know how to do everything and anything that will contribute to the ..(9). and enjoyment of your company's .(10)...

2. The words in capitals at the end of each of the following sentences can be used to form a word that fits suitably in the blank space.

In some companies the terms administrative assistants and administrative secretary seam to be ...... (CHANGE)

The executive secretary has top skills and keeps them ..... . (DATE)

Confidence of the executive's staff is built ....(CARE)

.... must be made promptly. (DECIDE)

The secretary must always be aware of being a .............. of the executive. (REPRESENT)

If the secretary's personal opinion is given, the subordinate may be ... as to the executive's actual sentiments on the matter. (LEAD)

The boss may have a higher opinion of the former than of the .... (LATE)

By ... the enthusiasm of one and giving a false sense of confidence to the other, the company's objectives may be impeded. (DAMP)


Are the following statements True or False?

1. The person who is in charge of the meeting is the person who takes the minutes.

2. The best way to call a meeting is to inform each participant individually by phone.

3. An agenda should outline the order and amount of time to spend on each item at the meeting.

4. Engaging in small talk throughout the meeting is an effective way to keep the focus.

5. When someone agrees with a motion it is "seconded".

6. The person who is speaking during a meeting is the person who "has the floor".

7. A polite way to indicate that you want to make a comment during a meeting is to say: "If I could just come in here..."

8. When there is a tie vote, it is customary for the chairperson to ask one participant to reconsider his/her decision.

9. During the closing remarks, the person holding the meeting should introduce new staff members or guest speakers.

10. Reminders are typically announced after all of the items on the agenda have been covered.

12. MANAGEMENT - Definition, Functions & Job descriptions

Cuvinte cheie: planning, organising, leading, controlling


"Management" (from Old French ménagement "the art of conducting, directing", from Latin manu agere "to lead by the hand") characterises the process of leading and directing all or part of an organization, often a business, through the deployment and manipulation of resources (human, financial, material, intellectual or intangible). Early twentieth-century management writer, Mary Parker Follett defined management as "the art of getting things done through people."

Management is also called "Business Administration", and schools that teach management are usually called "Business Schools". The term "management" may also be used to describe the slate of managers of an organization, for example of a corporation. A governing body is a term used to describe a group formed to manage an organization, such as a sports league.

The Functions of Management are: Planning, Organizing, Leading and Controlling.

I. PLANNING is the management functions that is concerned with defining goals for future organizational performance and deciding on the tasks and resources needed to be used in order to attain the said goals. To meet the goals, managers will invest significant resources for training and incentives to motivate employees.A lack of planning or poor planning can hurt an organization's performance. (Richard L.Daft "Management")

II. ORGANIZING usually follows after planning and involves the assignment of tasks, the grouping of tasks into departments and the assignment of authority and allocation of resources across the organization.

III. LEADERSHIP can refer both to the process of leading, and to those entities that do the leading. The process of leadership can be actual (i.e. giving guidance or direction) or potential (the capacity or ability to lead). Leadership can have a formal aspect (as in most political or business leadership) or an informal one (as in most friendships). Speaking of "leadership" (the abstract term) rather than of "leading" (the simple action) usually implies that the entities doing the leading have some "leadership skills" or competencies.

Several types of entities may provide or exhibit leadership, actual or potential, including:

  • a person in the position or office of authority (e.g. President)
  • a person in a position of office associated with expertise, skill, or experience (e.g. team leader, a chief engineer, or a parent)
  • a group or person in the vanguard of some trend or movement (fashion trend-setters)
  • a group of respected people (called a "reference group" by sociologists, e.g. business commentators or union spokespersons)
  • a product that influences other product offerings in a competitive marketplace

The term "leadership" can characterise the leadership given by an entity and also the period of the leadership (e.g. "During the 1940s Russia was under Stalinist leadership"). James MacGregor Burns (1978, p. 2) wrote that a study of the definition of the word leadership revealed 130 definitions; his work concluded by presenting five characteristics of leadership:

1. Leadership is collective. The notion of one-person leadership is, according to Burns, "a contradiction in terms" because there must be leaders and followers. One organization may have multiple leaders all acting in consort with one-another.

2. Leadership is dissension. This is to say that leadership coexists with dissent. Indeed, much of the growth of any organization is centered on the management/leadership of dissent - except in times of war.

3. Leadership is causative. True leadership affects the motives of individuals and groups of peoples and alters the course of the organizational history. It causes positive change.

4. Leadership is morally purposeful. Leadership is goal-oriented with leaders and followers point the way to some future state of the organization with plans about how those goals might be met.

5. Transforming leadership is elevating. The engagement between leaders and followers is moral - but not moralistic as both leaders and followers are raised to more principled lives.

Ronald Heifitz (1994, Leadership without easy answers, Cambridge, MA: Harvard University Press) described the important difference between a descriptive view (how leadership occurs) and a prescriptive view of leadership (how it should occur). A central concept of Heifetz's prescriptive view is the notion of adaptive work. Heifetz pointed out that people fail to adapt to new and unsettling situations through five avoidance mechanisms (p. 37): (1) blame others, (2) find scapegoats, (3) externalize the enemy, (4) deny that a problem exists, (5) jump to conclusions, or (6) find a distracting issue. In a prescriptive view, the leader would squarely face the problem and avoid the six surface level solutions of the non-leader. The true leader, should be the one who helps the community face reality and deal with the issues: finding solutions where none previously existed, in other words, a non-leader would catch fish to feed the poor while a true leader would teach the poor how to catch fish and would motivate them to do so. The true leader finds a way to help the community engage the problem and collectively find a solution.

George Terry (1960) has defined leadership as: "the activity of influencing people to strive willingly for group objectives". If we define leadership simply as "influencing others to some purpose" (i.e. deliberate intention to lead) and we define followership as "becoming influenced by others to accept (willingly or un willingly) some purpose", then leadership and followership emerge as two sides of the same coin. In this scenario, leadership has not occurred until at least one follower joins in ( and the leader is often endowed with status or prestige by followers; sometimes, regarded with respect).

Leadership implies a relationship of power - the power to guide others (e.g. the military, political parties, ruling élites, and other belief-based enterprises like religions or businesses - such entities may encourage their followers and believers to worship leadership, to respect it, and to strive to become proficient in it. Followers in such a situation may become uncritically obedient. Personal strategies that one can use to guard against the unrealistic expectations associated with belief in leaders include maintaining a questioning and skeptical attitude, and having confidence in one's own decision-making abilities. Within groups, alternatives to the cult of leadership include using decision structures such as co-operative ventures, collegiality, consensus, anarchism and applied democracy.

IV. CONTROLLING means monitoring the activities of employees, determining whether the organization is on target with its goals and making changes when necessary. In for-profit work, the primary function of management is satisfy a range of stakeholders: making a profit (for the shareholders), creating valued products at a reasonable cost (for customers), and providing rewarding employment opportunities (for employees). In most models of management, shareholders vote for the board of directors, and that board then hires senior management.

In the public sector of countries constituted as representative democracies, politicians are elected to public office. They hire many managers and administrators, and in some countries, like the US, a great many people lose jobs during a regime change. 2500 people serve "at the pleasure of the President" including all the top US government executives. Public, private and voluntary sectors place different demands on managers, but all must retain the faith of those who select them (if they wish to retain their jobs), retain the faith of those people that fund the organization, and retain the faith of those who work for the organization. If they fail to convince employees that they are better off staying than leaving, the organization will be forced into a downward spiral of hiring, training, firing, and recruiting.

Management also has a responsibility to innovate and improve the functioning of the organization - achieving these objectives involves a division of management labour - people specialize in a limited range of functions so as to more quickly gain competence and expertice.

Functions & Job descriptions in a traditional Command hierarchy

Chief executive officer (CEO) - The CEO is ultimately responsible for the success or failure of the business. He or she provides overall strategic direction for the firm, often with the assistance of a team of vice presidents. Strategic management decisions like what products to market, what market segments to target, what functions to outsource, what business model to employ, and what geographical areas to operate in are the responsibility of the CEO. The CEO is accountable to the board of directors. Typically a CEO will delegate many responsibilities to one or more executive vice presidents. In small firms, the owner, president, or chief executive officer typically assume many roles and responsibilities.

Vice president, Marketing - An executive vice president (EVP) of marketing might direct overall marketing strategies, advertising, promotions, sales, product management, pricing, and public relations policies. The direct reports of the EVP oversee advertising and promotion. In a small firm, they may serve as a liaison between the firm and the advertising or promotion agency to which many advertising or promotional functions are contracted out. In larger firms, advertising managers oversee in-house account, creative, and media services departments.

Marketing managers - develop the firm's detailed marketing plans and procedures. With the help of subordinates, including product development managers and market research managers, they determine the demand for products and services offered by the firm and its competitors. In addition, they identify potential markets (e.g. business firms, wholesalers, retailers, government, or the general public). Marketing managers develop pricing strategy with an eye towards maximizing the firm's share of the market and its profits while ensuring that the customers are satisfied. In collaboration with sales, product development, and other managers, they monitor trends that indicate the need for new products and services and oversee product development. Marketing managers work with advertising and promotion managers to promote the firm's products and services and to attract potential users.

Promotions managers - supervise sales promotion specialists. They direct promotion programs that combine advertising with purchase incentives to increase sales. In an effort to establish closer contact with purchasers - dealers, distributors, or consumers - promotion programs may involve direct mail, telemarketing, television or radio advertising, catalogs, exhibits, inserts in newspapers, Internet advertisements or Web sites, instore displays or product endorsements, and special events. Purchase incentives may include discounts, samples, gifts, rebates, coupons, sweepstakes, and contests.

Public relations managers - supervise public relations specialists. They direct publicity programs to a targeted public and they often specialize in a specific area, such as crisis management or in a specific industry, such as healthcare. They use every available communication medium in their effort to maintain the support of the specific group upon whom their organizations success depends, such as consumers, stockholders, or the general public. For example, public relations managers may clarify or justify the firms point of view on health or environmental issues to community or special interest groups. They also evaluate advertising and promotion programs for compatibility with public relations efforts and serve as the eyes and ears of top management. They observe social, economic, and political trends that might ultimately affect the firm and make recommendations to enhance the firm's image based on those trends. They may also confer with labor relations managers to produce internal company communications, such as newsletters about employee-management relations, and with financial managers to produce company reports. They assist company executives in drafting speeches, arranging interviews, and maintaining other forms of public contact; oversee company archives; and respond to information requests. In addition, some handle special events such as sponsorship of races, parties introducing new products, or other activities the firm supports in order to gain public attention through the press without advertising directly.

Sales managers - direct the firm's sales program. They assign sales territories, set goals, and establish training programs for the sales representatives, whom they advise on ways to improve their sales performance. They maintain contact with dealers and distributors. They analyze sales statistics gathered by their staffs to determine sales potential and inventory requirements and monitor the preferences of customers. Such information is vital to develop products and maximize profits.

Account executive - manages the account services department, assesses the need for advertising, and, in advertising agencies, maintains the accounts of clients.

Creative director - The creative services department develops the subject matter and presentation of advertising. The creative director oversees the copy chief, art director, and associated staff.

Media director - oversees planning groups that select the communication media - radio, TV, newspapers, magazines, Internet, or outdoor signs - to disseminate the advertising.


The manager's role Identify the suitable definitions (a-d) for the concepts (1-4).

1. communicate

a. a method of checking the performance of an employee by setting the results against the targets

2. delegate

b. to give someone the duty to act on your behalf, make decisions

3. motivate

c. to convey an idea or feeling to people

4. management by objectives

d. give/offer a stimulus to do something.

Words commonly associated with 'MANAGEMENT'.

1. The top people in a company can be called 'senior management'.

We need to get approval for this from senior management.

With my qualifications and experience, I should have a job in senior management.

2. Of course, another term for this is 'top management'.

He rose quickly through the company and had a top management position before he was 30.

The top management of this company have no imagination or drive.

3. Not surprisingly, the opposite of 'senior management' is 'junior management'.

He was promoted from the shop floor into a junior management position.

I feel I'm ready to move up from this junior management job.

4. Between 'senior' and 'junior' management is 'middle management'.

It's time I was promoted from junior management to middle management.

He rose rapidly to middle management but was then never offered a senior post.

5. The group of managers can be called the 'management team'.

We have a strong management team, full of high quality people.

We need to improve our management team to bring new life to the company.

6. 'Aggressive management' means being determined to do well and using strong methods to achieve success.

His aggressive management style has upset a few people.

We need some aggressive management to wake up this sleeping giant.

7. 'Day-to-day management' is concerned with the ordinary and regular issues of a company.

I spend so long on the day-to-day management of my department that I have no time to look at the long-term.

You will deal with the day-to-day management of the company while I work on the strategy.

8. 'Strategic management' is concerned with the long-term of the company.

This company lacks good strategic management and is just drifting.

You need to spend more time on strategic management and less on day-to-day issues.

9. 'General management' is concerned with all aspects of the company, not a specialist area such as Research or Marketing.

You've spent your whole career in Sales and you need some experience of general management.

You need some time in general management to get an overview of the company.

10. If there is 'inefficient management', a company will not use its resources as well as it should. The opposite of this is 'efficient management'.

The company is riddled with inefficient management. Don't work with them.

If we replaced the inefficient management, we could turn this company around.

11. 'Weak management' lacks the determination to carry out difficult decisions or actions.

This department has suffered from weak management for the last ten years.

There is a culture of weak management in this organization.

12. The opposite of this is 'strong management'. Notice that you can be 'strong' without being 'aggressive' - the first is reactive to events and the second is proactive.

This company needs some strong management to take on the unions.

We need strong management in this company, but not too aggressive.


The manager's role. Fill in the gaps with suitable words from the list.

against; behaviour; contacts; communicate; decide; delegating; implementation; long-term; management; measuring; objectives; set; select; suppliers; tactical.

Managers have to identify and ...(1) the objectives for their company. They are involved in ...(2), strategic planning, as well as in the drawing up of short-term, ...(3) plans. Managers must organize the company, ...(4) on allocation and use of the compa­ny's resources. They ... (5) and train the staff that should be able to suitably carry out the tasks of the organization. In the ...(6) of their programme they must command, delegate, motivate and ... (7) effectively with all the levels of their company. It has been pointed out that good relations at work, among workers and between workers and ...(8) favourably influence output, the quality of work and motivation. The feeling of belong­ing to a group has a positive impact on the ...(9) of employees. Successful managers always involve their staff in performing important tasks,... (10) them some activities, this leading to improved results of the company. The control activity means ...(11) the per­formance of their staff, setting obtained results ...(12) objectives - the management by ...(13) technique is but one example in this respect. Managers also have to establish and make .. .(14) with the outside world, they represent their organization in its relation with customers and ...(15), government and other parties.

Managing time. Fill in the gaps with suitable words/concepts from the list below:

afford; carrying out; consuming; contribute; cut out; delegate; importance; join; left out; meet; logging; resort; settling; turn down.

A manager should use his time in an efficient way. He should ... (1) all activities that do not contribute to the .-.(2) of his managerial tasks. In order to be aware of how he spends his time, he could ...(3) to recording his activity all over the day, which is called ...(4) time. Based on time logging, he can realize what can be ...(5). A manager should have a clear idea of priorities. A list of tasks in the order of their ...{6) could be a useful device. He should concentrate on the most important tasks first, and avoid time-...(7) and unproductive ways of doing things. A good manager will ...(8) the tasks he cannot ..,(9) the time to handle himself and in this way he will be able to...(10) deadlines even if this means others have been involved in ...(11) matters. Among the things he can give up is writing long memos. He can handle matters faster by making phone calls. He can also ...(12) requests to ...(13) committees, give interviews, ...(14) articles to magazines and so on. In this way he could make an efficient use of his time.

13. Decision-Making

Cuvinte cheie: persuade; sound decisions; executive; approach; effectiveness


Decision-making is the acid test of management. Your ability to reach the right conclusion on what to do in a given situation, your courage in doing it, and your skill in persuading others to accept your decision once you have made it are the three factors that con­stitute your success in leadership. Only you can decide how much responsibility you are willing to assume. But your decisions will determine your qualifications for executive command and help your superiors decide how much responsibility they will give you.

How to Make Sound Executive Decisions

There are two types of executives. The first, very rare, is strong, able and confident. His magnetic personality inspires loyalty and trust. He ignores the rule book and can make a decision that is accepted by his subordinates without question, whether they have any hand in forming it or not. He has a combination of talents and abilities that set him apart: he takes on tremendous responsibility, in fact, seeks it out; he can do the work of five men; he knows his people so well he understands their thinking and is aware of what their probable opinion will be on any given question; he can anticipate how they will act under various circumstances; he may not consult them before he does something, but he is certain they will enthusiastically support his act, whatever it is. But there are very few of his kind.

The average boss is an everyday fellow who has to work hard to get the most out of his ability. He has to sell his decisions to make sure they are properly implemented. He has to acquire the habits of leadership.

As an executive, your job is that of leader - you must make decisions. But even more than that, you must have them accepted by those under you, so your decisions can be translated into acts. To accomplish this, you must establish a pattern of leadership.

The Do-Nothing Approach This type of approach to decision-making is as old as the hills - call it the "don't-rock-the-boat" technique. As long as everyone is anxious to maintain the status quo, it's effective. You can't avoid decisions. If you fail to act on a question, you have, in effect, made a decision to do nothing. Sometimes this may be the right thing to do, or sometimes it can work for a while, but the consequence of this policy may be disaster.

Leadership Must Be Positive You are paid to think, to lead, to decide. Sometimes you must defer action. But when you put things off, your decision to do so is in itself a most important one. It should be based on a careful analysis of the facts. You must never confuse inaction with inactivity. And you must always decide positively on negative action. As a general approach you must make decisions before circumstances make those decisions for you.

What a Company Expects of an Executive People move from rank and file jobs to executive positions because they have technical knowledge and show promise of being able to make sound decisions. They are promoted to top jobs when they have demonstrated their ability to decide questions wisely. In a smaller way your success as a leader is determined by the wisdom of your decisions, the ability you show in carrying them out. If you have a problem and come up with the right answer three days late, it doesn't do you any good. The most brilliant decision is completely worthless if it's not made in time. Moreover, if you make a decision, even the right one, and let it go at that, you're wasting your effort. You have to follow through, you have to see that it is translated into intelligent action. How you go about implementing your decisions may be far more important than the decisions themselves. What you do to implement your decision after you have made it will determine its effectiveness.

How Do You Make a Decision? Your job forces you to do so every day.

Sometimes when you must decide on a major question, you seek advice. You check the opinion of your staff or go to a colleague for counsel, one whose wisdom you respect. But ultimately you decide what to do. It's your responsibility. You're stuck with the result. If you analyze what you do, you will see that you take certain steps before you come up with an answer to a question. You can sharpen your ability to make decisions if you consciously make this analysis, for you will learn whether or not you are omitting any important steps. Then when the process has become second nature to you, you can forget about it. You will have become a seasoned executive - able, mature, experienced, confident. There is no school for decision-makers. You must depend on your knowledge of the facts, your experience, your judgment, and perhaps your intuition to determine what is the best thing to do in any situation. This means you must be well informed. You must have the ability to review - and quickly - all the related facts of a case, consider the alternatives, and decide on a proper course. You must have confidence in yourself and the willingness to take action once you have decided what to do.

The Command Decision Enthusiasm and confidence in a leader are wonderful qualities, but you must work hard to gain them. Your right to lead is earned by the com­petence you show in your day-to-day actions. The cause of most executive maladjustment is lack of knowledge; these men are in jobs too big for them. They forget that knowledge isn't acquired through osmosis but comes only with experience. You will find that the greater your ability to secure the confidence of your subordinates, the more willing they will be to accept your decisions, and the more often your decisions will be the right ones. You must earn the right to make decisions.

Are Your Decisions Accepted? There is one quick way to find out how effective you are as a decision-maker. Do your subordinates argue with you and frequently attempt to dissuade you from a course of action? Do your colleagues shake their heads sadly and (those friendly to you) try to talk you out of going ahead with your plans? Does your boss supervise you closely and require you to check everything with him? Does he often countermand your decisions? All these things may happen and still you may be right. But if they occur constantly you can be sure people lack confidence in your judgment. Perhaps they distrust you because of errors you have made in the past. Maybe that's why they have good reason to doubt you even when you are right. In any event, you can look for small advancement in management unless you can persuade your associates to trust your wisdom, to rely on your judgment. They must believe in you before they accept your decisions.

1. Complete each of the sentences below with PAY, PAY FOR, PAY OFF, making sure that they fit grammatically into the sentence.

a)      Did you ..... the bill?

b)      We are ....... 5 % interest on the loan.

c)      I am ..... $20,000 a year.

d)      The job ..... well.

e)      He ...... the car in cash.

f)        We have already ....... our mortgage.

2. Fill in the gaps with the words: wages, salary or perks.

a)      A ...... is paid monthly and usually by bank transfer.

b)      ..... are paid weekly to manual or unskilled workers.

c)      ......, also known as fringe benefits are extra payments. In many job advertisements the combination of salary plus ...... is called a remuneration package.

3. Complete the following sentences using suitable words from the box below.

price  rate charge

fee  commission


a)      What is the ..... of this book?

b)      The ...... of unemployment fell in Germany last year.

c)      A lawyer is paid a contingency ..... Which is a proportion of the damages granted by the count.

d)      The bank ....... me 10 % commission.

e)      Please ...... this bill to my account.

f)        Salesmen are often paid a fixed salary plus ...... on sales made.

g)      Please pay the conference ...... directly to the Registrar.

h)      The ...... of inflation is over 30 %.


This short quiz may help you determine your ability as a decision-maker. Answer "Yes" or "No". Score yourself ten points for each question answered correctly. If you score 70 or more, although there is still room for improvement, at least you have the courage for executive decision. If you come in below 70 per cent, take stock of yourself. Maybe you don't really want responsibility.

1. Do you base your decisions on a deep knowledge of the facts and, once you have decided on a plan of action, carry it out firmly and with a sureness of touch?

2. When you are undecided on a question but are forced, perhaps reluctantly, to make a decision, do you reveal your uncertainty to your subordinates?

3. Do you frequently delay making a decision because you hope something will occur which will take you off the hook?

4. After you have made a decision, do you frequently backtrack, decide to do something else, and then possibly return to your original plan?

5. When you have made a decision or are in the process of doing so, do you openly agonize about whether or not it's right?

6. When you have made a decision, do you follow through and make absolutely certain that each person responsible for carrying it out knows exactly what is expected of him?

7. When you delegate responsibility to an employee for carrying out your decision, do you also delegate the authority necessary for him to do it?

8. Do you permit bias, prejudice or preconceived opinions to affect your decisions?

9. Do you vacillate in decision-making, permit superiors to talk you into doing something you

know is wrong because you are afraid to disagree with them?

10. If you make a decision and it doesn't work out are you willing to accept the responsibility for failure?

Answers to the test

1. Yes. A sound decision is based on facts although it may take imagination and judgment to interpret facts correctly.

2. No. When a leader is uncertain about what to do and shows it, it can cause panic among his subordinates.

3. No. The boss who waits for time to make his decisions for him inspires no confidence in his people.

4. No. The vacillating executive is quickly tabbed as a man who folds under pressure.

5. No. Many men worry about their decisions, but courageous ones appear confident regardless of the circumstances and keep their doubts to themselves.

6. Yes. If you don't follow through the best decision can be your downfall.

7. Yes. You are paid to direct others, not to do their work for them. The more effectively you delegate, the better you are as an executive.

8. No. Decisions are based on fact, not emotions.

9. No. Your boss doesn't want a "yes" man. If you think you are right defend your point of view, but do so intelligently.

10. Yes. If you can't take the rap for failure you don't deserve the credit for success.

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