Unit 6

Vocabulary

A) The verbs in the box are used when talking about risk. Check their
meanings and put them under the appropriate heading in the table
below.
Predict
Identify
Calculate
Foresee
Gauge

Meet
Face
Encounter
Minimise
Reduce

Assess
Estimate
Weigh up
Measure
Spread

Manage
Evaluate
Eliminated
Prioritise
Anticipate

B) Match these sentences halves from newspaper extracts.

1-E
2-F
3-G
6-B
7-A

4-D
5-C
6-B

C) These adjectives can be used with the word risk. Complete them with
the missing vowels.
1.Slight
2.Great
3.Minuscule
4.Considerable
5.Potential
6.Immediate
7.High
8.Remote
9.Serious
10.Negligible
11.Significant
12.Imminent
13.Substantial
14.Terrible
15.Tremendous

D) Of the adjectives in Exercise C, which describe:

1. A high level of risk? A low level?
2. A possible future risk? A risk in the very near future?
High level of risk
Great, considerable, immediate, high, serious, significant, substantial,
tremendous, imminent.
Low level of risk
Minuscule, negligible, slight
Possible future risk
Potential
Risk in the very near future
Considerable

Listening

CD. 2.10 Listen to Steve Fowler, Managing Director of the Institute of

Risk Management, and give one example of internal risk and one
example of external risk.
Internal risk: Injuries of employees within a factory
External risk: An earthquake or tsunami affecting a site or, alternatively, a
change in exchange-rate
mechanism
CD2.10 Listen again and complete the chart:
RISK
HAZARD
OPERATIONAL
FINANCIAL
-fires
-Information tech.
-Non availability of
reasonably priced
-typhoons
-Supply chain
credit

-hurricanes
-floods

-Employment risks

-lack of liquidity

STRATEGIC
-Area of
competition
-Changing
customer
demand
-Availability new
technologies
-Changing social
and
political
pressures

CD2.11 Listen to the second part of the interview. What are the five key
steps to risk management?
First step: recognize the strategic objectives for your organization and the key
processes that your organization uses.
Step two: to identify what the risks affecting the organization might be. This
should be done by looking at risk from two directions: top-down and bottom-up.
Step three: to access and prioritize the risks identified at step two.
Step four: mitigating risk
Step five: after identifying strategic objectives, identifying risks, assessing and
prioritizing risks and then mitigating those risks, its important that those actions
are flowed back through to ones strategic objectives again.

CD2.12 Listen to the final part. Which 3 examples does Steve mention of
organizations or industries that failed to manage risk? What does he say
about each example?
1) Banking industry worldwide: the systematic and reckless risk-taking
undertaken by many banks caused massive implications for
organizations/shareholders but also for worldwide public finances and
economic growth.
2) American based clothing retailer: lost $45 million credit-card details, giving
rise to an $80 million loss.
3) The video cassette industry: ultimate risk of being replaced by another
technology

Reading
C) Read the article again and answer these questions.
1. How did the insurance industry start?
Internationalization paved the way for the beginnings of the insurance industry
back in the fourteenth century, as ship-owners sought to protect the increasing
value of their ships and cargoes.
2. What do reinsurers do?
They have to cover large risks so they need a secondary market to place them
and that is was reinsurers do.
3. How do the two examples of major losses in paragraphs 7 and 8 illustrate this
quote?
Countries with an underdeveloped system of insurance suffer immeasurably
more from major catastrophes than those were a good part of the material losses
can be covered by professional risk carriers.
If companies are not (good) insured, they have to fear a loss of a lot of money. So
if there is a huge catastrophe, the companies with a good insurance will suffer
less.

E) Find words in the article which mean the following.

1. Product liability
2. Damages
3. Portfolio
4. Accumulation
5. Catastrophe
F) Complete these sentences with words from Exercise E .
1.damages
2.liability
3.catastrophe
4.portfolio
5.Accumulation
G) Without looking back at the article, match the words on the left to
the phrases on the right to make expressions.
1.bearthe brunt
2.springto mind
3.meeta need
4.pave the way
5. spread the risks

Language review
A) Which of these verbs strengthen the adjective which follow and
which soften it?
Strengthen: entirely, extremely, fully, highly, increasingly, totally, very
Follow: fairly, moderately, slightly, somewhat
Soften: a bit, quite, rather, reasonably,
B) Complete these dialogues with a suitable adverb.
1. very
2. very
3. rather
4. fully
5. reasonably

Unit 7
Starting up
A) Statements I agree on:
1) Managers should know when my birthday is to say congratulations
6) Be available at all times to give advice and support to staff members
8) use polite language at all times
B) Top three roles of a manager
1) Leader
2) Role-model
3) Motivator
C) How important are these factors in judging the success of a
manager?
The loyalty of staff: very important
Achievement of results: very important
Popularity with their superiors; not that important

Vocabulary

A) Give the opposite meaning for each of these objectives, using the
prefixes in-,ir-,un-,il-,dis-. Then provide the noun forms.
1.considerate
8.logical
-> inconsiderate, consideration
-> illogical, logic
2.competent,
9. loyal
-> incompetent, competency
-> disloyal, loyalty
3.creative
10.organised
-> uncreative, creation
-> disorganised, organisation
4.diplomatic
11.decisive
-> undiplomatic, diplomacy
-> indecisive, decisiveness
5.efficient
12.responsible
-> inefficient, efficiency
-> irresponsible, responsibility
6.flexible
13.sociable
-> inflexible, flexibility
-> unsociable, sociability
7.inspiring
14.supportive
-> uninspiring, inspiration
-> unsupportive, support

C. Four best qualities of a manager:

Four worst qualities of a
manager:
1. Competent
incompetent
2. Inspiring
unsocial
3. Decisive
inconsiderate
4. Supportive
uninspiring

D) Match these pairs of contracting management styles.

Autocratic
Democratic
Centralising
Controlling
Directive
collaborative
Empowering
delegating
Hands-on
Laissez-faire
Task-orientated
People-orientated

E/ Likeable management styles: democratic, laissez-faire

My own management style: democratic, laissez-faire and peopleorientated. But depends on organisation.
Qualities I possess: Motivating, sociable, hard-working, likeable,
competent

Listening

A) CD2.17 Laurie Mullins is the author of Management and

Organisational Behaviour. Listen to the first part of the interview. Which
two factors influence the managerial function today, and what are the
two examples that Laurie gives of these factors.
Factor 1: The ability to manage in an increasingly competitive, volatile, changing,
business environment. Example: BRICK nations
Factor 2: Nowadays, the manager has to manage with an increasing rate of
technical change.
Example: ICT, e.g. the manager has to interact with staff who may not be at the
same desk.

B) CD2.18 Listen to the second part. Which six managerial philosophies

does Laurie mention.
1. consideration, trust, respect
2. recognition and credit
3. involvement and availability
4. sense of justice
5. positive action on an individual basis
6. emphasis on end results
C) CD2.19 Listen to the final part and complete these abstracts.
1. direction

2.
3.
4.
5.
6.
7.
8.
9.

organized
structure
routine
individual
organisational
committed
self-direction
self-control

Reading
A) What I dont like about management styles: I hate an autocratic leader!
My ideal workplace would be like the Google office: lots of freedom, trust,
respect and fun with one another.
D) Anna Wintour: perfectionist, demanding, ruthless
E) 1. Not caring if you have to harm others to get what you want: ruthless
2.
3.
4.
5.
6.
7.
8.
F) 1.
2.
3.
4.
5.
6.

Not satisfied with anything unless its exactly right: perfectionist

having a natural ability to do something well: talented
wanting to achieve something by themselves: self-motivated
against forcing people to follow strict rules: anti-authoritarian
friendly and easy to talk to: approachable
expecting time and effort from others: demanding
Liable to suddenly become angry: volatile
Approachable
volatile
perfectionistic
anti-authoritarian
talented
self-motivated

G) Discuss these questions

1. What are the advantages and disadvantages of each style of management
described in the articles?
The one is very decisive, impatient and bears a look that says that she is the
boss a very strict style. Not always good for the employees
The second one is more relax and gives less deadlines. Disadvantage? people
need deadlines to meet and sometimes its better to start at a certain point on
the working floor.
2. Would you rather work for a male or female manager? Describe your ideal
manager.
depends on their personality, someone who is good in giving instructions, who
is good in their communication with the employees
3. Do you agree with Buckmaster that most meetings are a waste of time?

 thats personal, meetings are necessary to make good decisions, and to react
on certain situation. Evaluation is a good thing.

Language Review

A) Look at the Jim Buckmaster article on page 145 and say what all the
words in red refer to.
I think these are all pronouns.
F) Write a profile of a manager you know or you are interested in.
Sales manager
1) Resolve customer complaints regarding sales and service.
2) Direct and coordinate activities involving sales of manufactured products,
services, commodities, real estate or other subjects of sale.
3) Determine price schedules and discount rates.
4) Direct, coordinate, and review activities in sales

SKILLS

A) CD2.20,2.21 Jason Harding, Sales Manager of the drinks company

Quench Products, is giving a presentation to some customers. Listen to
both parts of the presentation and answer these questions.
1. What is the name of the product
-> Quench Iced Tea
2. When will it be launched
-> early next March
3. What are its USPs
-> several flavours, several versions, healthy, thirst-quenching
4. What will the audience take away with them
-> unique, delicious, thirst-quenching drink

DVD Unit 6 and 7