Business is an increasingly important activity throughout the world today. Consequently, the opportunities for a business career have grown in variety and number. There are now five broad fields or areas of business that offer exciting careers: management, marketing, accounting, finance, and data processing. Within each of these fields there are specific jobs in which you can specialize. For example, within the field of marketing you can specialize in market research, advertising, distribution, buying or selling. General career opportunities that are available in the various fields of business are as follows:
1. Management: General Manager; Personal Manager; Production Manager
2. Marketing: Researcher; Advertiser; Buyer; Seller; Distributor 3. Accounting: Bookkeeper; Private Accountant; Public
Accountant; Government Accountant 4. Finance: Banker; Financial Analyst; Stockbroker
5. Data Processing: Computer Operator; Computer Programmer; System Analyst
Practical Assignments
1. Answer the following questions about the meaning of business. 1. What is the modern definition of business? 2. How does this modern meaning of business differ from the traditional one? What factors have
!# brought about these changes? 3. What does production involve? 4. What example of distribution is given in the text? 5. How do goods differ from services? 6. In addition to production, distribution and sale what other factor is important in defining business? 7. What is profit? In general, what do companies do with their profits? 8. Compare your definition of business with the one given in the text. Are they similar? In what ways does your definition differ from the one presented in the text?
2. In choosing a business career, there are several questions you may want to ask.
For instance: Does the work interest you? Are there any areas of business for which you have an aptitude or special capability? What are the opportunities involved, such as demand (or need) for the job, salary, and chance for advancement?
Answers to these questions and careful planning will help in choosing a suitable and successful career in business. Put down your answers to these questions and then, working in pairs or teams, discuss them with your classmates.
3. The text states that business is an increasingly important activity throughout the world today. Answer the questions.
1. Does this general statement apply to your own country? Why yes or why not? 2. What opportunities for a business career are there in Latvia? 4. Answer the following questions?
1. What should a bookkeeper have an aptitude for? 2. What should a manager have an aptitude for? 3. What do you have an aptitude for? Some of the factors considered by people when choosing a job are listed below. Discuss each with your partner. Add to the list as you think of other factors.
1. Personal satisfaction. 5. Geographical location. 2. Opportunities for advancement. 6. Type of the work
3. Salary. performed.
4. Good hours, vacations. 7. Variety of tasks.
Work alone to rank the factors according to their importance for you in choosing a job. Write the most important ones at the top of the list and the least important ones at the bottom. When you have finished, compare the results with your partner and other members of the class.
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Learning the Ropes
Mr Sam Leland, business executive and author of the best-selling book How to Be Your Own Boss offers some advice for ambitious entrepreneurs. 1. Learn the ropes. Starting your own business is never easy. There is much that you need to know, and you must assume that you will make some mistakes. Many crucial business errors can be avoided, however. The first and most important thing to do is make sure you know as much as possible about your business and what will make it profitable before you open your doors.
2. Get your gears turning. What will sell in todays overcrowded market is a superior product at a lower cost. Never stop thinking about how to improve your product or service; think about it at dinner, in the shower, while youre asleep. Be creative. Dont always go by the book. If you can think of a way to do things better than theyve always been done, do it! (Remember, however, that some rules cant be broken; be sure to follow all legal requirements and regulations to the letter.)
3. Get rolling. Experience is always the best teacher, so get started as soon as possible. Dont wait for everything to be perfect before you open your doors. Your business will continue to expand and improve as you learn what your clients want.
4. Always be aware of your competition. How does your product or service stack up? Remember that to stay in business you always have to be a little bit better than the other guys. No businessman worth his salt would be content with a middle-of-the-road product or sales performance. You simply cant afford to be average. If you do not remain competitive, your business will not survive. You will go belly-up before you know it.
5. Keep in mind that the customer is king. Do everything you can to satisfy your client, no matter what it takes. Learn to say, No sweat! to any request. Find a way to make it happen. Even when you get snowed under by phone calls, bills, and work orders, you must treat your customers with dignity and respect. Tell them you value their patronage, and above all, never give them the runaround. Be honest with them, and they will remain loyal to you. If they are dissatisfied, work harder than ever to please them. A happy customer is your best advertisement.
6. Dont get discouraged. Its possible that in spite of your best efforts, your business may fail anyway. If I had given up after my first failed
!% attempt, I wouldnt be where I am today. Sometimes luck is largely responsible for success, so my final words to you are, Good luck!
Practical Assignments
1. Pay attention how idioms are used and try to guess their meaning. Write the meaning of the idiom on the line.
Example: They say the first year of law school is really hard, but Im sure once you learn the ropes, youll fine.
to learn how things are done
2. Work in pairs. Compose dialogues on business activities using the following idioms.
get rolling; no sweat; snowed under; worth ones salt; middle-of-the road; stack up; give someone the runaround; learn the ropes; get ones gears turning; go by book; to the letter; go belly-up