#0632 – Negotiating a Business Deal, - Ang, mater, ESL Podcast McQuillan Jeff mp3+PDF

#0632 – Negotiating a Business ...

#0632 – Negotiating a Business Deal, - Ang, mater, ESL Podcast McQuillan Jeff mp3+PDF

[ Pobierz całość w formacie PDF ]
//-->English as a Second Language Podcastwww.eslpod.comESL Podcast 632 – Negotiating a Business DealGLOSSARYnegotiation– the process of trying to reach an agreement with another personor organization where each side is willing to give up a little bit of something tomeet the other side’s needs* They found a house they’d like to buy, but now they’re in negotiations over whowill pay for the new roof.deal– an agreement, especially involving a sale or exchange of goods orservices* Did you get a good deal on the new car?to put the finishing touches on (something)– to make the last smalladjustments or changes to finish something well, when most of the work hasalready been done* They’ve almost finished remodeling their kitchen, and now they’re just puttingthe finishing touches on it by painting the walls and changing the handles on thecupboards.to hold out– to delay agreeing to something because one is waiting until onereceives something else* We’re almost ready to accept their offer, but we’re still holding out for a littlemore money.concession– something that one agrees to let another person have or do inorder to reach an agreement or end an argument* The company can be flexible with your vacation time, but we simply cannotmake concessions on salary.demand– something that one insists on having; something that one says onemust have or do in order for something else to happen* They’ll never agree to your demands for such a large expense account.to give in– to agree to do something that another person wants, even thoughone doesn’t really want to; to let another person win* If we’re persistent, at some point they’ll give in just because they’re tired ofarguing with us.to counter– to make a proposal in response to another person’s proposal* Randy initially offered just $200 for our boat, but we countered with $300.1These materials are copyrighted by the Center for Educational Development (2010). Posting ofthese materials on another website or distributing them in any way is prohibited.English as a Second Language Podcastwww.eslpod.comESL Podcast 632 – Negotiating a Business Dealto have (someone) over a barrel– to be in a situation where someone is in avery difficult, uncomfortable, or impossible situation and one can take advantageof that, knowing that one will win* The landlord raised the rent again and the apartment is too expensive for usnow, but he has us over a barrel, because we don’t have anywhere else to go.to walk away– to end discussions and stop negotiations because one is nolonger interested in something, usually because the other side is asking for toomuch* Don’t be too greedy! If you keep asking for more and more, they might justwalk away and leave you with nothing.at the table– in discussions; continuing to participate in negotiations* They spent many hours at the table before they agreed on the terms of themerger.to cave– to give in; to give up; to agree to the other side’s demands just to reachan agreement, usually because one is tired of arguing or negotiating* The Jamisons were so desperate to find renters for their home that they cavedand agreed to let the new tenants have pets in the home, even though they reallydon’t like the idea.touch-and-go– fragile and hesitant; something that could fall apart or fail at anymoment* The business is touch-and-go right now, and if the economy doesn’t improve, itwill probably have to close.to characterize (something)– to describe something in a particular way* How would you characterize the play? Is it a comedy or a tragedy?duly noted– a phrase used to show that one has heard and understood whatanother person has said and will think about it, especially when one needs tomake a decision* Your complaints have been duly noted and we will share them with the storemanager.2These materials are copyrighted by the Center for Educational Development (2010). Posting ofthese materials on another website or distributing them in any way is prohibited.English as a Second Language Podcastwww.eslpod.comESL Podcast 632 – Negotiating a Business DealCOMPREHENSION QUESTIONS1.a)b)c)What does Logan mean when he says, “we’re still at the table”?We’re eating while talking.We’re still discussing things.We’re ready to sign the documents.2. What does Gia mean when she says everything is “touch-and-go”?a) They’re waiting for a final handshake.b) The negotiations may or may not succeed.c) The parties aren’t allowed to touch each other.______________WHAT ELSE DOES IT MEAN?demandThe word “demand,” in this podcast, means something that one insists on having,or something that one says one must have or do in order for something else tohappen: “Management will never agree to the workers’ demands for cheaperhealth insurance.” In economics, the word “demand” refers to how much of agood or service people want to have at a particular price: “For most products andservices, demand increases as the price decreases.” The phrase “on demand”means whenever someone wants something, without having a set schedule:“Lynn often pays a few extra dollars to watch her favorite movies on demand,instead of waiting for them to appear on the TV schedule.” Finally, the phrase“due to popular demand” means happening because many people have askedfor something: “The chef is putting apple pie back on the menu due to populardemand.”to walk awayIn this podcast, the phrase “to walk away” means to end discussions and stopnegotiations because one is no longer interested in something, usually becausethe other side is asking for too much: “If they won’t lower the price, we canalways walk away.” The phrase “to walk away from (something)” means to leavea bad situation without trying to fix it: “Once you’re married, you can’t just walkaway from the relationship if you have problems.” The phrase “to walk(something) off” means to go on a long walk when one isn’t feeling well so thatone will feel better: “Una had a headache, but she decided to walk it off and nottake medicine.” Finally, the phrase “to walk out” means to leave because3These materials are copyrighted by the Center for Educational Development (2010). Posting ofthese materials on another website or distributing them in any way is prohibited.English as a Second Language Podcastwww.eslpod.comESL Podcast 632 – Negotiating a Business Dealsomeone doesn’t like something: “The actors were horrified to see their audiencemembers walking out during the play.”______________CULTURE NOTEBefore “investing” (putting money or other resources into something, hoping tomake more money or see results) money in anything, it is important to “conduct”(do) “due diligence,” learning as much as one can about something and makingsure it is “legitimate” (real) and “legal” (following the laws). This is true forbusiness “transactions” (buying and selling) and “philanthropy” (giving money tononprofit organizations).In a business transaction, due diligence is usually related to a company’s“financial situation” (how much money a company has, how it is managed, andhow profitable it is), as well as legal and tax “considerations” (concerns; worries).Conducting due diligence requires reading the company’s annual reports and“financial statements” (documents with financial information) and “verifying”(making sure something is true) that information by conducting an “audit” (theprocess of testing many transactions or accounting entries to make sure thingsare done correctly). Due diligence might also involve making sure the companyhas all the “requisite” (required; necessary) “licenses” and “permits” (officialpermission to do something) and checking with the city and state to see if anycomplaints have been “filed” (submitted) against the company.In philanthropy, “prospective” (possible; considering doing something) “donors”(people who give money to organizations) conduct due diligence “much as theywould” (similarly; in a similar way) for a business transaction. They learn asmuch as they can about the organization and review its annual reports andfinancial statements. They review the organization’s tax filings and study howthe organization spends its money. Donors also want to understand theorganization’s “impact” (effects; results) on the “beneficiaries” (people whobenefit from something) so that they know their money will be used to do goodthings.______________Comprehension Questions Correct Answers: 1 – b; 2 – b4These materials are copyrighted by the Center for Educational Development (2010). Posting ofthese materials on another website or distributing them in any way is prohibited.English as a Second Language Podcastwww.eslpod.comESL Podcast 632 – Negotiating a Business DealCOMPLETE TRANSCRIPTWelcome to English as a Second Language Podcast number 632: Negotiating aBusiness Deal.This is English as a Second Language Podcast episode 632. I’m your host, Dr.Jeff McQuillan, coming to you from the Center for Educational Development in –guess where? That’s right, beautiful Los Angeles, California.Our website is eslpod.com. Consider becoming a member of ESL Podcast tosupport this effort. You can go to our website, and by becoming a member alsodownload the Learning Guide for all of our current episodes.This episode is called “Negotiating a Business Deal” (a business agreement). It’sa dialogue between Gia and Logan. Let’s get started.[start of dialogue]Gia: Why are the negotiations on this deal taking so long? I thought we wouldbe putting the finishing touches on it by now.Logan: The other side is holding out for more concessions. I don’t know whatthey’re thinking. They made some pretty big demands at the start and I thinkwe’ve given in to most of them. Now they’re countering with even moredemands.Gia: They probably know that they have us over a barrel. After all of the timeand money we’ve put into this deal, they know that we don’t want to walk away.Logan: That’s true and that’s why we’re still at the table, but they may bepushing too hard. In the end, I don’t think we’ll cave on those additionalconcessions.Gia: So the entire thing is touch-and-go right now?Logan: That’s how I would characterize it. If I were you, I wouldn’t make anylong-term plans.Gia: Duly noted. I won’t run out and buy that new house and those three newcars.5These materials are copyrighted by the Center for Educational Development (2010). Posting ofthese materials on another website or distributing them in any way is prohibited. [ Pobierz całość w formacie PDF ]

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