Concerned with; and; of; with; that.

The correspondence of the Company Secretary is particularly concerned ___ shareholders' meetings, board meetings, ___ the various forms ___ must be sent in to the office of the Registrar ___ Joint Stock Companies (the Government department ___company regulation).

Exercise 2. Fill in the table with words and expressions from the text:

Exercise 3. Compose a story on one of the topics (up to 100 words):

“Duties of a private secretary”

“The Company Secretary must be a properly qualified person”

“Writing of telegrams”

Lesson 7

THE READING MODULE

Read the text: Business Letters

Business writing is different.

Writing for a business audience is usually quite different than writing in the humanities, social sciences, or other academic disciplines. Business writing strives to be crisp and succinct rather than evocative or creative; it stresses specificity and accuracy. This distinction does not make business writing superior or inferior to other styles. Rather, it reflects the unique purpose and considerations involved when writing in a business context.

When you write a business document, you must assume that your audience has limited time in which to read it and is likely to skim. Your readers have an interest in what you say insofar as it affects their working world. They want to know the "bottom line": the point you are making about a situation or problem and how they should respond.

Business writing varies from the conversational style often found in email messages to the more formal, legalistic style found in contracts. A style between these two extremes is appropriate for the majority of memos, emails, and letters. Writing that is too formal can alienate readers, and an attempt to be overly casual may come across as insincere or unprofessional. In business writing, as in all writing, you must know your audience.

In most cases, the business letter will be the first impression that you make on someone. Though business writing has become less formal over time, you should still take great care that your letter's content is clear and that you have proofread it carefully.

Personal pronouns (like I, we, and you) are important in letters and memos. In such documents, it is perfectly appropriate to refer to yourself as I and to the reader as you. Be careful, however, when you use the pronoun we in a business letter that is written on company stationery, since it commits your company to what you have written. When stating your opinion, use I; when presenting company policy, use we.

The best writers strive to achieve a style that is so clear that their messages cannot be misunderstood. One way to achieve a clear style is to minimize your use of the passive voice. Although the passive voice is sometimes necessary, often it not only makes your writing dull but also can be ambiguous or overly impersonal.

Of course, there are exceptions to every rule. What if you are the head of the Global Finance Team? You may want to get your message across without calling excessive attention to the fact that the error was your team's fault. The passive voice allows you to gloss over an unflattering point—but you should use it sparingly.

Strive to be exact and specific, avoiding vagueness, ambiguity, and platitudes. If there are industry- or field-specific concepts or terminology that are relevant to the task at hand, use them in a manner that will convey your competence and experience. Avoid any language that your audience may not understand. Your finished piece of writing should indicate how you meet the requirements you've listed and answer any questions raised in the description or prompt.

Many people believe that application letters and cover letters are essentially the same but they’re different. The letter of application is a sales letter in which you market your skills, abilities, and knowledge. A cover letter identifies an item being sent, the person to whom it is being sent, and the reason for its being sent, and provides a permanent record of the transmittal for both the writer and the reader.

І. Reading Exercises:

Exercise 1.Read and memorize using a dictionary:

Exercise 2.Answer the questions:

1) What will be the first impression that you make on someone?

2) How do you to refer to yourself?

3) What style do the best writers strive to achieve?

4) What must you avoid?

Exercise 3.Match the left part with the right:

Exercise 4.Open brackets choosing the right words:

Though business writing has become (more/less) formal over time, you should still (take/pay) great care that your letter's content is (clear/difficult) and that (you/they) have proofread it carefully.

THE SPEAKING MODULE

II. Speaking Exercises:

Exercise 1.Describe business document; letter of application; business writing; contract; memo using the suggested words and expressionsas in example:

Exercise 2.Ask questions to the given answers:

1) Question: ___________________________________________?

Answer: When you write a business document, you must assume that your audience has limited time.

2) Question: ___________________________________________?

Answer: When stating your opinion, use I; when presenting company policy, use we.

3) Question: ___________________________________________?

Answer: Many people believe that application letters and cover letters are essentially the same.

THE WRITING MODULE

III. Writing Exercises:

Exercise 1.Complete the sentences with the suggested words:

Between; and; from; often; for.

Business writing varies ___ the conversational style ___ found in email messages to the more formal, legalistic style found in contracts. A style ___ these two extremes is appropriate ___ the majority of memos, emails ___ letters.

Exercise 2. Fill in the table with words and expressions from the text:

Exercise 3. Compose a story on one of the topics (up to 100 words):

“Distinction of business writing”

“How to write a business letter”

“Difference between application letters and cover letters”

Lesson 8

THE READING MODULE

Read the text: The Psychology of Business (Part І)

On the different aspects of consumer and employee needs that are included within the psychology of business. The modern world is dominated by global businesses and corporate houses and any large scale enterprise requires a systematic understanding of employee and consumer demands, both material and non-material. The performance of business organizations depends on the performance of employees and the needs and expectations of the consumers, and so the ‘human’ factor is central to the success of any business. In recent years, say from the last part of the 20th century, there have been several changes in our understanding of human nature as it relates to work and performance in organizations and the primary focus in now on communication, leadership skills, and employee satisfaction. All these factors are important in enhancing the overall performance of any business organization.
The psychology of business is thus primarily the psychology of employees and the psychology of consumers and it’s the organization that is responsible for maintaining the balance between consumer demands and employee demands.

The Psychology of Employees - First let us talk about the psychology of employees. Any business house is operated by a number of employees and some of them are part of the higher management and are also considered as partners of business. The major elements that should be part of understanding the psychology of employees would be.
1. Communication – Employee communication and understanding of business goals is an integral part of success and it is the duty of the management of an organization to maintain direct and clear communication procedures through video conferences or seminars and presentations that would clearly state the mission and vision of the company. The communication between management and the other employees is thus a key aspect of employee or personnel psychology.
2. Leadership – Any human resource manager or career counselor would focus first on developing leadership skills and leadership is an integral part of business because our inner leadership skills help us to break the mould and do something different and pioneering. Leadership skills in employees are important as team leaders in an organization are required to motivate other employees to attain certain company objectives. Leadership is thus closely related to motivation as a highly motivated individual will also be more likely to show leadership skills
3. Satisfaction – Employee satisfaction is an important aspect of business and we hear of several companies declaring large pay packages and incentives to retain the best talent. Job satisfaction, material satisfaction in terms of salary and bonuses, and social satisfaction with regard to the work ambience are essential aspects of business and all businesses will have to pay specific attention to employee social, financial and emotional satisfaction. Fulfilling the needs of employees should be the primary focus of companies and this could be in accordance with Maslow’s hierarchy of needs in which it has been suggested that financial security, personal safety would be very important to humans followed by emotional need for social contact and connection and then we have esteem needs for social status and reputation.
Employee psychology is thus based on these three major factors or elements of business and all businesses should pay considerable attention to employee communication, leadership and motivation and employee satisfaction as essential aspects of psychology of business that can in turn enhance performance.

I. Reading Exercises:

Exercise 1.Read and memorize using a dictionary:

Exercise 2.Answer the questions:

1) What is central to the success of any business?

2) Who is responsible for maintaining the balance between consumer demands and employee demands?

3) What are the major elements that should be part of understanding the psychology of employees?

4) Why is leadership an integral part of business?

Exercise 3.Match the left part with the right:

Exercise 4.Open brackets choosing the right words:

In recent years, say from the last part of (the 19th century/ the 20th century), there have been several (changes/difference) in our understanding of human nature as it relates (to company/to work) and performance in organizations and (the primary/the secondary) focus in now on communication, leadership skills, and employee satisfaction.

THE SPEAKING MODULE

II. Speaking Exercises:

Exercise 1.Describe company; manager; consumer; employee; communicationusing the suggested words and expressionsas in example:

Exercise 2.Ask questions to the given answers:

1) Question: ___________________________________________?

Answer: The psychology of business is thus primarily the psychology of employees and the psychology of consumers.

2) Question: ___________________________________________?

Answer: Our inner leadership skills help us to break the mould and do something different and pioneering.

3) Question: ___________________________________________?

Answer: A highly motivated individual will also be more likely to show leadership skills.

THE WRITING MODULE

III. Writing Exercises:

Exercise 1.Complete the sentences with the suggested words:

both …and; any; of; by.

The modern world is dominated ____ global businesses and corporate houses and ____ large scale enterprise requires a systematic understanding ____employee and consumer demands, ____material____ non-material.

Exercise 2. Fill in the table with words and expressions from the text:

Exercise 3. Compose a story on one of the topics (up to 100 words):

“Main factors of any business’

“The major elements of the psychology of employees”

“Leadership is an integral part of business”

Lesson 9

THE READING MODULE

Read the text: The Psychology of Business (Part ІІ)

The Psychology of Clients/Consumers – Apart from employees, the consumers or customers are an integral aspect of business and the business management or corporate heads will have to understand the needs of customers as well in order to expand their business potential. Consumer psychology is based on several elements and this has a direct relation to whether businesses will thrive in a competitive global environment. Consumer psychology is shaped by the following related factors.
1. Innovation – Consumers are ever curious and eager to buy new products and services and their own expectations and satisfaction tend to drive business innovation. Innovation is the direct result of consumer necessities and any innovative or novel product immediately gets consumer attention. The apple iPod or iPhone attracted consumer attention with the novelty so innovation as it relates to business has a direct impact on consumer psychology.
2. Branding – Brands indicate social status and many individuals prefer to buy branded products as these products promise quality and enhances social prestige. Women spend thousands on Gucci or Chanel products simply they want to be seen with designer clothes, shoes and accessories. Designer brands apart, regular brands for food products let’s say Kellogs or Nestle are company names which are perceived as brands signifying quality. Consumers are not just interested in innovation and innovative products but they are also interested in familiarity and thus innovative products of renowned/familiar brands or companies are the most successful in the market. Psychologically we are seekers of novelty and we are also seekers of familiarity and a certain amount of routine. Thus both these needs have to be balanced in case of consumer expectations and only then businesses can be successful. Brands are synonymous with company reputation and increase consumer confidence.
3. Performance – Company performance in terms of stock market indications, annual reports, projections of company profits improve consumer confidence and in business performance drives performance. Thus if a company’s prospects are bright and company growth is projected, the business halo effect works immediately and further improves business. When employee psychological factors should be considered to enhance company performance, performance in turn is a factor to meet consumer psychological demands. So business performance is a two way process, it is driven by consumer expectations and drives employee contribution.
Thus consumer psychology which is based on demands and expectations for products and services are guided by these following factors of the extent of innovativeness of a company, the brand or reputation of the company and the performance of the business organization. Employee psychology which in turn is also based on demands and expectations of employees highlights the extent to which they have communication facilities and the extent to which employees are motivated or satisfied in their jobs.
Thus the psychology of business has two distinct branches – that which deals with employee interests and that which deals with consumer interests and although these can at times overlap, the elements are distinct and I have tried to differentiate between the key elements of consumer business psychology and employee business psychology. Thus any composite organizational business psychology will consist of both these aspects of employee personal development through human resource management consisting of elements of motivation/leadership, communication and satisfaction; and expansion of consumer base through organizational goal achievements through performance, innovation and branding.

I. Reading Exercises:

Exercise 1.Read and memorize using a dictionary:

Exercise 2.Answer the questions:

1) By what is consumer psychology shaped?

2) How do you understand brands?

3) Why is business performance a two way process?

4) What distinct branches has the psychology of business?

Exercise 3.Match the left part with the right:

Exercise 4.Open brackets choosing the right words:

Apart from employees, the consumers or customers are an (international/integral) aspect of business and the business management or corporate heads will have (to understand/to decide) the needs of customers as well in order (to expand/ to enlarge) their business potential.

THE SPEAKING MODULE

II. Speaking Exercises:

Exercise 1.Describe company; psychology; company secretary; social satisfaction; business letter using the suggested words and expressions as in example:

Exercise 2.Ask questions to the given answers:

1) Question: ___________________________________________?

Answer: Brands indicate social status and many individuals prefer to buy branded products.

2) Question: ___________________________________________?

Answer: Brands are synonymous with company reputation and increase consumer confidence.

3) Question: ___________________________________________?

Answer: So business performance is a two way process, it is driven by consumer expectations and drives employee contribution.

THE WRITING MODULE

III. Writing Exercises:

Exercise 1.Complete the sentences with the suggested words: