The Mergers And Acquisitions Management Essay

The Mergers And Acquisitions Management Essay In May of 1998, two of the largest car manufacturers in the business Daimler-Benz and Chrysler Corporation agreed to combine their organizations in what they agreed to be an egalitarian merger. Egalitarianism is a cultural value which represents the opposite of a hierarchy (Brett and Okumura, 1998) and which communicates the nature of the companys social structure (Brett, 2000). Whereas an organizational social structure defined by hierarchy demands respect, advantage, and authority to those in the top tier of the corporation, an egalitarian social structure places less demands on lower-level staff members, based on the premise that superior status is subject to change (Brett, 2000). However, an egalitarian merger would prove to be a challenge as German and American styles of management appeared to be polar opposites. German organizational structure was authoritarian, bureaucratic, and centralized; while American organizational structure was mostly participative, empowered, and ega litarian. To further complicate company relations, a statement emitted by Jurgen Schrempp in an interview with the Financial Times (1999), indicated the true intentions of the transaction, stating that the merger was never intended to be among equals. Such a statement revealed inherent flaws in communication which would disrupt perceived trustworthiness of Daimler-Benz, as well as control issues based on mutual misunderstanding as a result mutual insensitivity to cultural differences. Because an autocratic management style predominated in Daimler Benz, the acquisition instilled a sense of entitlement to authoritarian values within the German company, imposing upon Chrysler a top-down management approach which disregarded existing Chrysler company values and interpersonal dynamics. However, Chrysler also failed to recognize and adapt to dominating German styles of operation, choosing to adopt a more passive approach which reduced effective leadership within the American workforce. Because cross-cultural integration was so poorly prioritized within the Daimler-Chrysler merger, steps to generating a more adaptive response to the merger are recommended. First and foremost, both companies should create contingencies to account for the integration of potentially dissonant company values. Culture is a highly influential variable which must be thoroughly researched and communicated to both parties in order to create a higher understanding of mutual approaches. Once culturally sensitized, organizations must create and implement new organizational values which transcend both parties particular cultures, in order to create a third culture in which communication and productivity is based on awareness, respect, and commitment to fulfilling mutual company goals. Thus, by appointing an integration manager, the acquired company should report arising doubts stemming from the cultural aspects of the merger. In addition, company restructuring and related downsizing should be do ne as quickly and as respectfully as possible, in order to increase organizational efficiency. Finally, inclusive team-building amongst both entities should be promoted in order to generate innovative problem-solving ideas which strengthen and unite company relations. What is a merger? In general, a merger can be defined as the integration of an acquired company into the existing, acquiring company. In terms of finance, an acquiring company purchases the majority of shares from the acquired company, thus merging both assets into one expanding share. A merger tends to be a permanent arrangement and usually the company who acquires the shares retains its namesake. The International Competition Network identifies three major types of merger transactions: Share Acquisitions, Asset Acquisitions, and Joint Ventures. A share acquisition is defined by obtaining a controlling equity interest in the target such that it can exercise decisive influence over the targets business operations (ICN, 2010). On the other hand, an asset acquisition is defined as a buyout strategy in which valuable elements rather than shares of a financially unstable company are purchased. Furthermore, the acquiring company can choose which specific assets or liabilities it wants to purchase. Finall y, a joint venture is defined as a partnership between two companies which participate in a transaction of shared risks and assets for mutual benefit. Joint ventures are commonly proposed to domestic companies of a designated region by foreign companies who wish to expand their markets. In this transaction, the foreign company usually provides an advantage in technology and materials while the domestic company provides established contacts, brand recognition, and fulfillment of required government procedures. Synergy: Reasons for Mergers Synergy is the belief that current productivity levels and overall value of two separate companies will be greater following the integration of both. Schweiger Very (2003) identify four elements which comprise synergy: cost, revenue, market power, and intangibles. A cost synergy implies reducing overall organizational costs of administration and sales, as well as promoting functional consolidation and optimizing sales force and distribution, among others. Revenue synergies are associated with increasing volume of sales by selling products throughout a variety of markets with the intention of reducing fixed production costs. Market power is related to the acquisition of a competing market in order to maintain or increase product prices. Finally, intangibles refer to the ability to successfully transfer expertise and brand-name power to the acquired company (Haspeslagh Jemison, 1991). Synergies provide a company with the motivation necessary to pursue a merger. Supported by the various synergies are various strategic reasons for pursuing a merger. Schweiger Very (2003) identify 5 particular objectives to be fulfilled by mergers: geographic market consolidation, extension of technology, services or products, and geographic market expansion, among entering a new business and vertical integration which is the process of becoming a supplier or distributor in order to increase company value. Once a company has been acquired and the merger fulfilled, it is important to fulfill certain variables in order to achieve a smooth transition of company management. The level and speed of integration are crucial to organizational adaptation and will vary in success depending on applied integration strategy, organizational culture, and employed acculturation strategies. Acculturation refers to the process in which the acquired company adopts the acquiring companys organizational culture as its own. It is argued that a successful integration of company values is a greater predictor of overall company progress than financial or strategic factors (Larsson Lubatkin, 2001). An acquired company which retains a high degree of autonomy and cultural identity is indicative of a successful integration. However, a company which abandons its cultural identity and structure in favor of the acquiring companys identity suggests previous failure and distrust of proper capacities to succeed. Quality of communication is also a fundamental factor in achieving post-merger success. Poor communication between organizations can lead to a perceived lack of trust and caring by the acquired company, as well as a decrease in commitment and satisfaction. In addition, the degree of retained autonomy displayed by the acquired company directly relates to the level of integration achieved by the company: A higher level of autonomy is suggestive of a low level of integration, and vice versa. Although a certain level of autonomy can be beneficial for the acquired company, it can prove to be counterproductive if it does not correspond to the defining terms of the merger acquisition. Mergers and the Importance of Organizational Change Change provides a company with the opportunity to develop, expand, and progress. Future-oriented theories define organizational change as the process of setting, executing, and renewing company goals in order to achieve an ideal state of relevance and innovation. Similarly, life-cycle theories explain change as an externally-dependent process which evolves through various stages: birth (or emergence), growth (or development), maturation, and decline. Finally, dialectical theory compares organizations to multicultural societies with clashing values which generate change. In any case, an organization which embraces change demonstrates its capability to adapt and thrive on an ever-evolving marketplace. Similarly, employees who adapt to implemented organizational changes experience enhanced satisfaction in their performance, additional to as a greater sense of involvement in their work environment. If embraced properly, positively-promoted change can create a stimulating environment ripe for innovation, as well as a renewed sense of commitment to the company. Thus, effective leadership during transitional states of implemented change is crucial to decreasing employee stress while increasing overall productivity (Halkos, 2012). Reasons for Failure of Organizational Change Many factors contribute to failure to adapt to change within an organization. Specifically, there are 6 fundamental factors which influence unsuccessful implementation of change: premature or insufficient willingness to change, lack of contingencies to support the change, expecting immediate results, focus on change as opposed to results, leadership and management deficiencies, and divergence between planned strategy and circumstances of change (Yhang, Zuo, Yu, 2009). In addition, research by Amburgey, Kelly, Barnett (1993) has found support for Hannan Freemans (1984) Structural Inertia Theory, which states that both internal and external constraints greatly influence the outcome of organizational change. Section 1: Daimler-Chrysler Merger: A Cultural Mismatch Q.1 Mergers and Acquisitions take place to realize the synergies between the two or more companies involved. Using Cultural theories, explain why do you think the Daimler-Chrysler merger failed to realize the synergies that were expected from it? The merger between Daimler-Chrysler failed to fulfill synergic expectancies because appropriate steps to ensure adequate integration between two organizational cultures were not implemented. Daimler-Benz did not effectively communicate their true intentions regarding the merger with Chrysler, initially setting expectancies for a joint-venture equalitarian status which was later revoked by Daimler-appointed, Chrysler USA CEO Juergen Schrempp. This lack of communication created expectancies of equality and autonomy among Chrysler employees which were disregarded post-merger. However, Chrysler USA showed lack of leadership in adapting to the new model of organizational structure implemented by Daimler-Benz, thus increasing levels of stress among employees while reducing perceived trust in leadership capabilities, level of commitment to the company, productivity and job satisfaction. Cultural differences were vast, and failed to adapt to typical inclusion challenges faced by foreign companies intending to establish their presence in domestic markets. Whereas the German organization displayed the level of formality, precision, bureaucracy and orientation to detail typical of autocratic and bureaucratic styles of management, leadership within Chrysler USA inclined towards a participative approach which valued empowerment and egalitarian relations. In order to minimize cultural clash, Schrempp allowed each company to retain their own structural and cultural approaches, suggesting the adoption of a separatist mode of acculturation. However, the lack of communication which accompanied this decision failed to address the uncertainties in organizational procedure brought by the merger, in addition to the true intentions of Daimler-Benz to acquire the company as a subsidiary and not as an equal partner. Thus, the true nature of the merger was revealed in the way Daimler- Benz promoted cultural assimilation without regard to existing structure in Chrysler USA. Q.2 Many a Cross Cultural mergers have failed because proper attention was not given to the difference in cultures between the two companies. What issues should be addressed to make cross culture merger a success? Include an Action plan in your recommendation section. In order for a cross-culture merger to be a success, cultural issues must be assessed and addressed as thoroughly as possible in order to dispel uncertainty which may give rise to increasing tension and diminished productivity in the workplace. To further any plans without assessing overall adaptation to newly-implemented changes would hinder any opportunities for organizational development. A merger that is both culturally aware and financially sound is fundamental to achieving success as a newly-formed corporation entity. Even though Daimler-Benz eventually attempted to increase cultural awareness within its organization by promoting seminars on cultural awareness, learning the language and experimenting with a casual dress code, cultural integration remained ineffective as both parties were still heavily entrenched in the bases of their pre-existing organizational structure. American employees were encouraged to learn the German language and increase specificity in their planning, but remained fundamentally adrift in their leadership while their German counterparts continued to eliminate Chrysler authority by replacing top-tier management with German executives. Essentially, both organizations resisted the changes implemented by the merger and did not manage a successful integration of company cultures. Because of the complexity involved in adapting and conforming to external cultural values, a new approach focusing on promoting a Third Culture has been suggested by a growing body of research as a way to demonstrate respect for pre-existing cultural identities within the organization. Yan and Luo (2001) suggest a series of actions to motivate intercultural learning. A partners level of commitment and negotiating skills should be thoroughly assessed; flow of knowledge should be constantly improved through effective communication; and inter-organizational trust should be reinforced (Graen, 2003). In addition, Graen Wakabayashi (1994) suggest an alignment of diverging cultures by implementing the LMX Third Culture Way, an overall procedural strategy which encourages mutual respect among cultures, as well as the acceptance and commitment of both parties to a mutual way of fulfilling the merger transactions objectives. Subsequently, acquired knowledge should be integrated successfully i n organizational practices (Graen, 2003), and knowledge leaks should be prevented in order to maintain organizational unity and edge. Similarly, overdependence in either one of the parties should be avoided, instead incentivizing employees from both parties to provide efficient and innovative suggestions. Finally, all acquired knowledge should be implemented in company culture and promoted through frequent and effective communication, and consultancy and support for both parties should be provided throughout every stage of the merging process. Such support would assist organizational transition by promoting a general understanding of distinct cultural values and potential attitudes and behaviors related to each of the involved parties. In turn, promoting a companys own awareness helps develop consciousness of typical behaviors inherent in the company and their influence on others, thus developing a greater level of cultural sensitivity which fosters more effective inter-management a nd management-employee relationships. Finally, constant promotion and reinforcement of third-culture values increase trust and perceived competence among both entities, increasing the overall effectiveness of communication. Section 2: Renault Enters India with a Joint Venture Q1. Examine the factors that influenced Renaults Decision to choose a joint venture entry mode as opposed to Green Field entry mode to enter the Indian market. Include in your answer an explanation of how the characteristics of India have affected this decision. As previously discussed, a joint venture is a strategic merger approach typically employed by a company that wishes to corner a foreign market. By approaching Mahindra and Mahindra (subsidiary of Nissan) as a joint venture, it seizes the opportunity to create a lasting, egalitarian relationship between both parties, in a dynamic which delegates autonomy and expertise to the Indian company while benefitting from the familiarity of its brand name and knowledge of domestic markets. However, profitable benefits are mutual as Mahindra and Mahindra disregard their allegedly small stake in the Indian subsidiary of Ford in order to gain a 20 per cent share of the total auto market in India. Q2. Discuss the main advantages and disadvantages for Renault using a Joint Venture mode compared to a Green Field entry mode. Explain the main differences between the two modes in terms of control, risk, and flexibility. Include an action plan which includes some steps to portray Renault as a good corporate citizen to reduce its political risk. In general, a joint venture with Mahindra and Mahindra allowed Renault to benefit from valuable, strategic assets, as well as a quicker and more formidable entry into a competitive, locally-cornered market. Had Renault approached the Indian market through Green Field Entry, it would have spent additional costs in starting a foreign subsidiary and forgone the invaluable expertise and established market shares it earned through the partnership with Mahindra. Furthermore, an analytical gaze at the Indian automobile market reveals that India is developing exponentially, with its southern cluster alone holding a 35 percent revenue share. Had Renault opted for the Green Field approach, it would have had to face a deeply competitive market with no realistic, cost-effective strategy of entry. Alternatively, both companies have demonstrated a successful adaptation to the merger by focusing on the strategies necessary to achieve mutual benefit. As previously suggested by Yan and Luo (2004), both Renault and Mahindra promote business interactions characterized by Third Culture elements, by incentivizing effective performance by communicating their company objectives and expectations in a direct manner, also reinforcing trust and productivity among both organizations. However, one frequent problem resulting from joint ventures relates to attitude changes by one of the owners (Miller Glen, 1997), suggesting difficulties in aspects of control. Diverging interests in products, disregard for more cost-effective sourcing, and mutual misunderstanding based on insensitivity to cultural differences are only a few of the issues arising from control problems. Thus, it is important for both Renault and Mahindra to continue fostering a Third Culture approach to their relations by contin ually generating cultural awareness and securing valuable knowledge produced by their interactions and joint experiences, as well as by increasing overall organizational flexibility when approaching overlapping company structures. Conclusions Mergers occur for various reasons, which include: increased mutual profit, market power, and intangible assets such as shared expertise. However, the process of merging to distinct companies with particular organizational cultures and structures can prove to be challenging to both parties, especially in regards to integrating new objectives and culturally-influenced expectations of productivity. As seen in the case study of Daimler-Chrysler, an inappropriate communication dynamic, as well as intercultural resistance, diminished the potential to achieve greater levels of productivity and satisfaction among both parties and failed to extinguish increasing levels of stress and distrust among the acquiring and acquired entities. In order to increase opportunities for a successful multicultural merger, both organizations should raise cultural awareness amongst each other through direct and respectful feedback and a constant and secure influx of knowledge which reinforces a general and uni ting third culture.

Key Enm4

ENM411 Market leader –Upper-Intermediate 1 UNIT 1-7 Listening |SPRING2010 |SUM2011 |FALL2011 |SPRING2012 | | | Midterm: Builder Higher Test 2, Part 1, Part 2 Cambridge BEC Higher 1- Test 1, Part 1 Cambridge BEC Vantage 2, Test 1, Part 3 Cambridge BEC Higher 1- Test 2, Part 1 Cambridge BEC Vantage 2, Test 4, Part 3 Cambridge BEC Higher 4, Test 3, Part 1 Cambridge BEC Vantage 4, Test 3, Part 3 Final Exam Cam Higher 3-Test 3, Part 1 Builder Higher Test 2, Part 3 Cambridge BEC Higher 2, Test 1, Part 1 Cambridge BEC Vantage 2, test 2, Part 3Cambridge BEC Higher 1- Test 3, Part 1 Vantage Builder, Test 2, Part 3 Cambridge BEC Higher 2, Test 3, Part 1 Cambridge Pass Vantage Self-study, Test 1, Part 3 Resit Pass Vantage self study- Test 2, Part 1, Part 3 Cambridge BEC Higher 2, Test 2, Part 1 Cambridge BEC Vantage 2, Test 3, Part 3 Cambridge BEC Higher 1- Test 4, Part 1 Pass Vantage self-study, Test 1, Part 3 Cambridge Builder Higher, Test 1, Part 1 Cambridge BEC Vantage 4, Test 4, Par t 3 WRTITING Midterm: Your Managing Director is considering how to improve the company’s internal communications, Write a proposal for the Managing Director:Final: Midterm: An international fund is offering grants to small businesses to improve their facilities. Write a letter FE: Your company is considering appointing someone as your assistant,Write a report for your manager, describing: Resit: The graph below shows the profit and loss made on three new products (A, B and C) in the year following their introduction to the market. Using the information from the graph, write a short report READING Midterm Pass Cambridge BEC Higher Selfstudy p. 33 Cambridge BEC Vantage 2, Test 3 Part 2, p. 60 Cambridge BEC Higher 1, Test 1 Part 3, p. 22. Control Key and Word – Text and Graphics.Cambridge BEC Vantage 3, Test 1 Part 4 Cambridge BEC Higher 2, Test 1 Part 1 Cambridge BEC Vantage 2, Test 2 Part 3, Cambridge BEC Vantage 4, Test 1 Part 4 Cambridge BEC Higher 1, Test 2, Part 1 V antage Self study, Test 2, Part 3 Cambridge BEC Higher 1, Test 3, Part 1 Cambridge BEC Vantage 1, test 2, part 4 Final BEC Vantage Masterclass Unit 4, Workbook p. 10 Cambridge BEC Higher 2, Test 1, part 2, p. 20 Cambridge BEC Vantage 2, Test 4 Part 3, p. 82 Cambridge BEC Vantage 4, Test 4 Part 4 Cambridge BEC Higher 1, Test 1 Part 1 Cambridge BEC Vantage 2, Test 1 Part 3, Cambridge BEC Vantage 2, Test 2, Part 4Cambridge BEC Higher 2, Test 3, Part 1 Pass BEC Vantage Self-study, Test 2, Part 3 Cambridge BEC Higher 4, Test 3, Part 1 Cambridge BEC Vantage 4, Test 2, Part 4 Resit Cambridge BEC Vantage Self-study, Test 1, Part 4, P. 24 Cambridge BEC Vantage 2, test 1 part 2, p. 20 Cambridge BEC higher 2, test 2, part 3 p. 30 Cambridge BEC Vantage Self Study, Test 4 Part 4 Cambridge BEC Higher 4, Test 4, Part 1 Cambridge BEC Vantage 3, Test 1 Part 3 Cambridge BEC Vantage Self study, Test 3, Part 4 Cambridge BEC Higher 4, Test 3, Part 1 Vantage Self study, Test 3, Part 3 (used) Builder High er , Test 1, part 1Pass BEC Vantage Self study, Test 2, part 4 Grammar and Vocabulary Progress Test 1 + Midterm block 1 + Final Exam + Resit MC Unit 1 This invention reduced production time by a†¦Ã¢â‚¬ ¦ of months, and Freudenberg consequently became one of the biggest tanneries in Europe. issue problem trouble matter Installing an automated system means data is now†¦Ã¢â‚¬ ¦ only once but can be access by anyone in the company. penetrated entered put placed I have received numerous complaints that Meetup is†¦Ã¢â‚¬ ¦ people with unwanted emails. bombarding falling pouring flowing When †¦Ã¢â‚¬ ¦ , effective communicators are good at giving information. peak speaking spoken to speak The manager recommends †¦Ã¢â‚¬ ¦ email only three times a day, allocating a set period of time to deal with it. checking to check check checked If you say something under your †¦Ã¢â‚¬ ¦, you whisper or say it very quietly. mouth ears tongue breath It is easy to †¦Ã¢â‚¬ ¦ t he difference between the banknotes used in the country. say speak tell talk Good communicators do not ramble and lose †¦Ã¢â‚¬ ¦ of the main message. meaning light sense sight A †¦Ã¢â‚¬ ¦ person always keeps his or her attention fixed on what he or she wants to achieve. uninhibited focused eloquent succinctWhen somebody is dismissed from the job, we can say that they have†¦Ã¢â‚¬ ¦ got the boot got the shoe got the sandal got the slipper He was unable to express his disagreement although he is generally †¦Ã¢â‚¬ ¦. amicable assertive accessible agreeable Identifying the subgroups within an organization and making sure each group feels valued and respected can do †¦Ã¢â‚¬ ¦ more to encourage the sharing of information. further far many lot Good communicators make their †¦Ã¢â‚¬ ¦ clearly and avoid technical terms, abbreviation or jargons. points means thought perceptions Not all politicians are eloquent. Some of them even use an†¦Ã¢â‚¬ ¦ autocue notepad sticker auto noteInstalling an automated system means data is now †¦Ã¢â‚¬ ¦ only once but can be accessed by anyone in the company, wherever they are. paced registered admitted entered 1. Good communicators maintain eye contact and have a relaxed body language when speaking; they really take in what people say. in on at up 2. The speakers went on and on and did not get to the point. I had no idea of what they were rambling about. Rambling digressing interrupting engaging 3. Good communicators sometimes digress and leave the main point to add information and details. However, they will not ramble and lose sight of the main message. Confuse digress explain larify 4. It's useful to allocate a set period of time to process your inbox, rather than checking it sporadically throughout the day. Allocate indicate deliver distribute 5. The company’s advertising emphasizes that it provides a personal health service tailored to the individual needs. Met tailored satisfied fixed 6. A brave new world is a world in which society has been transformed by technology and science. Brave progressive modern courageous 7. It is easy to tell the difference between the banknotes in the US and the UK. Say tell speak ask 8. He would like to know whether he stands a chance of getting promoted or not.Hang on a second. I am afraid that we are duplicating work because I also asked my department to do this. Copying duplicating wasting imitating 9. Breakdown in communication can bring the world to a halt today. Stop halt cancel interruption 10. If something is in the air, you feel that it is happening or about to happen. air sky hand atmosphere 11. The†¦Ã¢â‚¬ ¦.. articulate people express thoughts and feelings easily and clearly so that almost everyone can understand. Responsive eloquent persuasive articulate 12. He seems so uninhibited here. He behaves and speaks freely and does not care what other people may think. Incoherent rticulate uninhibited inarticulate 13. By creat ing a relaxed atmosphere, good presenters can easily establish rapport for the audience. And a good rapport, as many presenters will tell you, is half the battle. Set up form establish find 14. The collapse of the company will have repercussions for the whole industry Percussions discussion recession repercussions Extra Disruptive technology is a new technology, such as computers and Internet, which has rapid and major effect on technologies that existed before. The tariff for something is a list of prices, especially ones which vary according to the time or day of use.When somebody is dismissed from the job, we can say that they have Got the boot Got the shoe Got the sandal Got the slipper A lazy employee who only pretends to work is said to be Swinging the lead Fillblank 1. If something is in the a(ir/air), you feel that it is happening or about to happen. 2. Information o(verload/overload) means that decisions about what to read amongst thousands of potential books and articles i s a highly problematic task. 3. I can’t make head or t(ail/tail) of that badly written report. 4. If you give somebody a low-d(own/down) you tell them all the information they need to know. . If you a(ir/air) your views, you express your opinions about something in public. 6. Despite his great s(ense/sense) of humor, he often find it difficult to respond to his audience. 7. â€Å"R(edundancy/redundancy)† is the situation when someone loses their job because their employer does not need them. 8. Good presenters establish good r(apport/rapport) with the audience. 9. A(rticulation/articulation) is the formation of clear and distinct sounds in speech. 10. An open p(lan/plan) office is the one which has few or no walls inside, so it is not divided into smaller rooms. 11.A l(ine/line) manager is a person with direct managerial responsibility for a particular employee. 12. Internal communication can be one of the hardest nuts to c(rack/crack) in business. I am not sure whethe r or not I s(tand/stand) a chance of being promoted soon. As he couldn’t attend the meeting, she is giving a summary of the main point to put him in the p(icture/picture). If you are at a l(oss/loss) for words, you are unable to say anything because something surprising or totally unexpected has happened. If someone drops a h(int/hint), he or she makes a suggestion in an indirect way. Unit 2In the short term, firms may experience increased risk and decreasing profits when†¦.. going international. Going Traveling Cruising Arriving The main target of the anti-globalization movement is corporate power, not capitalism, but these perspectives do not necessarily exclude one another. progress Movement Arrival Motion Because of the budget†¦. , this year's focus has been to add value to increase sales without impacting gross profit margin. lack emptiness constraints complications We †¦Ã¢â‚¬ ¦ out promotional activities for various companies in the internet through class ified websites. bring take make carryPeople in Chile prefer instant coffee †¦Ã¢â‚¬ ¦ freshly brewed. to with for about Even the most †¦Ã¢â‚¬ ¦ differences in consumer profile of a Columbian and a Venezuelan will not have been lost in Starbucks. illusive catchy gentle subtle In order to †¦Ã¢â‚¬ ¦ competitive advantage, companies will try to make their products and services stand out from their competitors’. insure secure sure certain Marketers need to be aware of the buying behavior of †¦Ã¢â‚¬ ¦and potential customers. present existing conventional current US-style coffee houses have been †¦Ã¢â‚¬ ¦ up in the upmarket districts of the country. appearing springing coming oing Anyone who knows the Starbucks story can already visualize potential outlets in the most fashionable †¦Ã¢â‚¬ ¦ of the region’s capital cities. neighborhoods neighbors fields factors The †¦Ã¢â‚¬ ¦ aim of advertising is to persuade consumers to choose a specific produ ct or service. efficient extreme ultimate decisive Brand also presents some intangible aspects of a product since it is how the product or often even the whole company’s †¦Ã¢â‚¬ ¦ by its customers. perceived received believed relieved Brand is the †¦Ã¢â‚¬ ¦ of ideas, feelings, and perceptions about lifestyle and status, image and quality. versus nexus lexis focusNumerous shopping malls offer customer free parking, and all the major retail brands can be purchased under one †¦Ã¢â‚¬ ¦. roof house tower citadel Coca Cola has †¦Ã¢â‚¬ ¦ its soft drinks to every market. economized altered customized separated Consumer tastes vary enormously from one country to †¦Ã¢â‚¬ ¦. another the other ohers other Their mailing list contains plenty of information and data so that they won’t have any difficulty †¦Ã¢â‚¬ ¦ the most appropriate recipients for the mailshots. to identify identify identifying identified The most important decisions for international marketing are probably†¦Ã¢â‚¬ ¦product standardization and variety reduction. hat of what which of those of In international marketing, it is necessary to meet individual national requirements, particularly where †¦Ã¢â‚¬ ¦goods are concerned. consumer consumption consuming consumed 15. The 2008 market is a declining market with businesses closing down, employees losing their jobs and a challenging stock market. Reducing declining falling failing 16. This technique is applicable to a wide variety of crops, but some modifications may be necessary to accommodate the†¦ peculiarities of each type. Forms specialties peculiarities specifications 17.Irony†¦ is a situation in which something which was intended to have a particular result has the opposite or a very different result. Subtleness irony peculiarity homogeneity 18. Some analysts say Starbucks was forced to globalize because it had saturated its home market. Balanced equaled saturated justified 19. The extremely †¦volatile exchange rate has contributed to considerable uncertainty in ? nancial markets. Impressive volatile confidential expanding 20. Expanding †¦. operations overseas poses challenges, including finding business partners, protecting intellectual property and complying with different local laws. Businesses Operations ork enterprises 21. For long-term sustainability of the industry, it is important to diversify the product †¦range and move towards products that are less resource intensive and fulfil market requirements. Types range forms mediums 22. Mission †¦statement is a short written description of the aims of a business, charity, government department or public organization. purpose mission target aim 23. If you want to compete you must play to your own strengths. play work base contribute 24. In many countries today, global brand owners command the super-premium†¦ end of the market in any given product category, while local brands command the rest. Side end type sort 25. Global brand owners poured into the newly opened markets and, facing little competition in countries unaccustomed to consumer culture, they thought they would clean up. With about to for 26. As people become better off, they want more choices, not fewer. On with about off In order FillBlank 1. R(ed/red) t(ape/tape) and other examples of government bureaucracy hinder a company’s entry into a market. 2. Consumers’ buying habits can be described as their p(urchasing/purchasing) behavior. 3. A w(holesaler/wholesaler) sells goods to the retailers, usually in large quantities. 4.If goods in a shop are on s(pecial/special) offer, they are being sold at a lower price than usual. 5. If a market s(aturates/saturates), it provides too much of a product so that there is more of this product available than there are people who want to buy it. 6. N(ovelty/novelty) is something which has not been experienced before and so is interesting. 7. If a culture is h(om ogeneous/homogeneous), it consists people which are similar to each other or are of the same type. 8. A m(ission/mission) s(tatement/statement) is a formal summary of the aims and values of a company, organization, or individual. 9.M(arketing mix/marketing mix) is a combination of factors that can be controlled by a company to influence consumers to purchase its products. 10. M(ailshot/mailshot) is the posting of advertising or similar material to a lot of people at one time. Marketers sometimes focus on particular segments of a given overall market. This process is known as ‘t(arget/target) marketing’ T(angible/tangible) assets are real, physical assets owned by a firm or individual that can be seen or touched. Unit 3 The excellent relations the company enjoys with the local community are a †¦Ã¢â‚¬ ¦ to its highly effective PR Department. credit gift alent genius As a result of the government’s †¦Ã¢â‚¬ ¦ of currency controls, its close relations with s everal major foreign investors have been jeopardized. proposition imposition compensation concession While some of Toyota's Japanese plants have †¦Ã¢â‚¬ ¦ production for certain models, over 16 plants are still closed. assumed consumed undermined resumed Retailers need to †¦Ã¢â‚¬ ¦ and build a relationship with the customer across a range of channels including the internet. inquire require acquire secure There’s a lot we can do to keep our customers and learn more about them. But we need to be creative and come †¦Ã¢â‚¬ ¦ with good ideas. p on about for I hope you don’t mind me †¦Ã¢â‚¬ ¦. to phone phoning phone phoned I hope that you might be able to advise me †¦Ã¢â‚¬ ¦ franchising contracts. for with about on Relations between them are rather †¦Ã¢â‚¬ ¦. They don’t seem to like or trust each other. smooth straightened amiable strained IAG has an unrivalled scale of operations and a †¦Ã¢â‚¬ ¦ of political and business connections . property wealth vast sum China is probably the insurance market with the biggest †¦Ã¢â‚¬ ¦ potential in the world . untapped unheard unknown untouched Today, turning its pioneering presence into a †¦Ã¢â‚¬ ¦success is AIG’s biggest challenge. ntrepreneurial commercial enterprising economical The report †¦Ã¢â‚¬ ¦two key elements of a successful strategy. pinpoints guides invents orients In China, extravagant entertainment are part of business †¦Ã¢â‚¬ ¦. doing practice action act The †¦Ã¢â‚¬ ¦customer of the 21st century does not have time on his or her hands. relentless disordered preoccupied restless Many major retailers failed to adjust to the †¦Ã¢â‚¬ ¦ towards internet buying. orientation move direction walk Unit 3 27. After †¦. cementing good contacts, he went in and completely.. undermined all our hard work. Breaking/soured maintaining/established romoting/ built cementing/undermined 28. Widespread rumours of a hostile take-over bid are certain to .. strain relations between two leading French software companies. drain strain stress pain 29. The restless customer of the 21 century does not have time on his or her hands and there are million other providers, all ready and eager to sell to that customer. Restful Restless resting rested. 30. If something is transparent, it is very clear and easy to understand. Transferable transparent transmissible transactional 31. If someone is explicit, he or she says things clearly, exactly and openly. xplicit implicit requisite honest 32. An intermediary is someone who carries messages between people who are unwilling or unable to meet. Immediacy intermediary intermediatory intermediation 33. I think we'll have to terminate his contract because he doesn't fit in with the other people in the office. Extend renew terminate sign 34. If a bank or other organization underwrites an activity, it gives it financial support and takes responsibility for paying any costs if it fails. Under writes makes certain guarantees secures 35. Capitalization is the total value of a company's shares on a  stock exchange.Market price capital capitalization market share 36. China was considered to be the insurance market with the biggest untapped potential in the world Untouched untapped unused undone 37. To lobby means to attempt to convince public officials to favor a certain cause or take a certain action. Persuade tempt induce lobby 38. In terms of investing in emerging markets, AIG has an edge over other insurers. edge advance experience activeness 39. With roots dating back more than half a century, AIG has an unrivalled scale of operations and a .. wealth of political and business connections. richness ealth vast various 40. Her outstanding performances set a new†¦ benchmark for singers throughout the world. record remark benchmark line Gapfilling 1. To a(ffiliate/affiliate) means to cause a group to become part of or form a close relationship with another, usually la rger, group or organization. 2. Our agent let us down, we though we could c(ount/count) on him to boost sales but he had no commitment, no motivation. 3. They may be our competitor, but we want to stay on good t(erms/terms) with them. 4. They didn’t h(it/hit) it off at first, but little by little the came to be friends. . You should be able not only to relate to your employees, but also to h(old/hold) on to them. 6. We are definitely going to create a new post, so I suggest we should s(ound/sound) out a few people about it. 7. We continue to be one of the world’s leading business-to-business supplier of office products and services, and our m(otto/motto) continues to be â€Å"Our job is to make your job easier†. 8. We’d like to d(raw/draw) your attention to our special offers for regular customers like you. Customers will tolerate a little delay, but they are unlikely to p(ut/put) up with rudeness.They get on really well with each other, so it came as a s urprise when they f(ell/fell) out over such a trivial incident. He’s going to be t(ied/tied) up in the meeting till noon, so please come and see him in the afternoon. Unit 4 1. The company will †¦Ã¢â‚¬ ¦ shares to indicate who owns the company, and in what proportion. print issue publish release 2. Billionaire financier George Soros stands to make †¦.. profits with his newly launched investment fund. beautiful handsome pretty hunky 3. If you †¦Ã¢â‚¬ ¦ something, you to control it, usually in order to use its power. tackle harness integrateTheir hard work and investment is beginning to†¦Ã¢â‚¬ ¦ fruit. manufacture produce bear bring Several staff underperformed last year and didn’t †¦Ã¢â‚¬ ¦their targets. see meet talk please Whether or not to deregulate health care is a †¦.. issue. separate divisive gapping splitting When some key employees disappeared, the boss said that they’d left to †¦Ã¢â‚¬ ¦ other opportunities. gain pursue purchase ensure We are looking for ways of †¦Ã¢â‚¬ ¦ our rivals. No one will be cheaper than us. underselling below selling above selling overselling In the late 1990s, many countries †¦Ã¢â‚¬ ¦ a sharp economic downturn. looked viewed witnessed glancedStaff who never get any praise for their achievements may †¦Ã¢â‚¬ ¦ up underrating their own abilities. finish terminate complete end What we are looking for †¦Ã¢â‚¬ ¦ a candidate who can get results and work well under pressure. are is being be 6. Of course I can see now that Brian is an †¦Ã¢â‚¬ ¦ to our company, and I’m sorry I so badly misjudged him when he started working for us. asset access assessment acceptance 7. We’ll cut our expenses and downsize our †¦Ã¢â‚¬ ¦ in order to become more competitive on the market. practices actions operations work 8. After some teething troubles, they now have a †¦Ã¢â‚¬ ¦ business with a huge turnover. declining thriving riving diving It’s been a lot of hard work, but she seems to be really making a †¦Ã¢â‚¬ ¦ of her business. walk go step come The new product †¦Ã¢â‚¬ ¦filled the gap of the market and †¦Ã¢â‚¬ ¦took off as soon as it was launched. filled/took filled/set covered/took covered/set If an industry, company, activity etc is in the †¦Ã¢â‚¬ ¦, it is not doing well or developing. depress deadness doldrums docks The Mobil logo is an instantly †¦Ã¢â‚¬ ¦ logo across the planet. recognized aware conscious sensed While it's difficult for the average investor to buy shares in Facebook right now, there are rumors that the company will go †¦Ã¢â‚¬ ¦ in 2012. stock general widespread ublic 41. The advent of LCD watch technology in 1970s created a vast opportunity for the company. Arriving Adventure advent going 42. Gimmick is something which is not serious or of real value that is used to attract people's attention or interest temporarily, especially to make them buy something. Slogan gimmick mimic gadget 43. We have also seen the downfall of some companies which over-expanded during the last boom. Downmove downwards downfall falldown 44. As the retail market became saturated, they had to think up a short-term strategy and develop some long-term planning. Out up on of 45. Today's consumers are very price.. onscious, but aggressive price promotions undermine the perceived value of our brand Aware knowing informed conscious Gapfilling 1. â€Å"N(epotism/nepotism)† means using your power or influence to get good jobs or unfair advantages for members of your own family. 2. If someone is r(uthless/ruthless), they have or show no pity or compassion for others. 3. P(rototype/prototype) is the first example of something, such as a machine or other industrial product, from which all later forms are developed. ’ 4. A t(riumph/triumph) is a very great success, achievement or victory or a feeling of great satisfaction or pleasure caused by this. . The company has loya l customer b(ase/base) because it meets the expectation of customer by always delivering the goods at lower prices. 6. The company made a profit for the first time since going p(ublic/public). 10. A â€Å"g(immick/gimmick)† is something which is not serious or of real value that is used to attract people's attention or interest temporarily, especially to make them buy something. 11. We don’t want our customers to think we were r(ipping/ripping) them off if we charged them a higher price. Nobody thought we’d clinch the deal, but we came up t(rumps/trumps) in the end.A â€Å"high f(lier/flyer/flier/lyer† is someone who has a lot of ability and a strong desire to be successful and is therefore expected to achieve a lot. 7. Since the emergence of high-speed Internet, the music industry has complained that it is being brought to its knees by the p(irates/pirate/pirates/irate) of downloading. 8. A â€Å"f(law/flaw)† is a fault, mistake or weakness, espec ially one that happens while something is being planned or made, or which causes something not to be perfect. 9. If someone is f(ussy/fussy), they not easily satisfied and have very high standards about particular things.If a company is going p(laces/places), it is on the way to success. We had been always ahead of our rivals until 2003 when they o(utstripped/outstripped) us for the first time. Unit 5 16. We use †¦Ã¢â‚¬ ¦ strategies to reach audiences across all channels, from digital to mobile to word of mouth. integrated consolidated united blended 17. In the interview with Bloomberg Opedal says that Orkla is willing to sell assets to †¦Ã¢â‚¬ ¦the expansion in Asia. supply finance pay off provide 18. Unemployment in the booming economies of Australia and New Zealand is at †¦Ã¢â‚¬ ¦lows. most least record highest 1. The company is †¦Ã¢â‚¬ ¦ ways to keep the best salespeople. making oing watching devising 2. A liberal education helps students develop a †¦Ã¢â ‚¬ ¦ of social responsibility. sense feeling perception sensation Because technology companies face the †¦Ã¢â‚¬ ¦ labor markets, they have been the most aggressive in devising ways to keep workers. smallest narrowest tightest tiniest Managers can †¦Ã¢â‚¬ ¦educational and special training leave for staff and encourage them to attend training programmes and conferences. decide avoid add advocate Don’t throw money at the workers who want to leave because pay †¦Ã¢â‚¬ ¦ don’t always work. rises raises lifts elevations 6. The company want to hire people that are totally †¦Ã¢â‚¬ ¦ with their values. ined dealing accompanied aligned 7. As a boss, you need to make employees feel †¦Ã¢â‚¬ ¦ they’re not interested in looking elsewhere, because they’re very happy with their life. as though though if whether 8. Building up employee loyalty is important with unemployment at a †¦Ã¢â‚¬ ¦ low. extreme most total record 9. The new CEO †¦Ã¢ € ¦ the bureaucratic corporate culture to profit-minded entrepreneurship. formed transferred transformed translated 10. The growing number of close relationships between staff has very bad effect on both performance and †¦Ã¢â‚¬ ¦. morale moral motive motion He has a †¦Ã¢â‚¬ ¦of accomplishment when a demanding task is carried out successfully. eel sense thinking perception The company should have †¦Ã¢â‚¬ ¦ of an individual’s or group’s efforts or contributions. acknowledgement knowledge realization admission 46. If an employee is so overloaded that there is not time to keep organized this can increase the stress that leads to burnout. Over-burn burn-off burnout burn down 47. Generous remuneration packages are often attached to overseas postings. numeration remuneration pay benefit. 48. Wholly foreign owned enterprises enjoy exclusive management control of their own business activities and have †¦autonomy in their operation and management with less interference from the government.Appraisal autonomy bureaucracy assessment 49. In a performance †¦appraisal, an employee discusses with their manager how well they have been doing their job, their progress, aims and needs at work. Bureaucracy commission appraisal incentive 50. Staff retention is one of the key factors required to keep your service quality constantly at high level. Retention maintenance retention intervention 51. Already providing top quality services, the company goes a step further by exceeding customers' expectations at all times. More forwards upwards further 52. Labor crunch is a situation in which there are not enough workers.Redundancy restriction crunch intension 53. The company’s parental leave policies are very generous in allowing time off and reentry into employment. Leave off rest vacation 54. We revamped all the management system, but the business is doing no better than it was before. Redid revamped retained regenerated 55. Morale†¦. i s the amount of confidence felt by a person or group of people, especially when in a dangerous or difficult situation. Morale spirit mood status 56. A parent must be careful not to show favoritism towards any one of their children. Favorite favorability favoring favoritism 7. Could I have a quick word with you? saying sentence word talk 58. Actuaries†¦. are people who calculate insurance risks and premiums according to statistical probabilities. Insurers calculators statisticians actuaries 59. If something is†¦ negligible, it is of very little importance or size and not worth considering. remote negligible slight faint 60. They have to take decisive action to prevent these losses from escalating. Take make create do 61. By focusing on customers and their expectations, he helps companies develop integrated strategies to achieve long-range performance goals.Integrated connected interrogated interrelated 62. She resumed her career after an interval of six years. Retook resume d redid remade 63. While acts of terrorism receive the most coverage, it’s the more traditional events such as fires, floods, explosions, power failures or natural disasters that have the biggest impact. Cover coverage newspapers social networks 64. Whether the quality of customers' experiences is poor or excellent, all companies have room for improvement. Place vacancy room emptiness 65. When staff turnover is high, a manager needs to understand why people are leaving and work on correcting it.Turndown turnoff turnover turning 66. In urban areas all the major operators in the last few years have been focusing on corporate clients to boost their revenues. Boot boost shoot host 67. About five years a go, the company began to lose sales and market share, and in the last two years, it has made a loss. made done caused taken 68. Individual business units must own and manage their own risks within the framework of an overall risk management policy. framework structure infrastructu re organization 69. I am going to suggest we carry out a study of the market, and take it from there. carrying carry arried to carry 70. If a company is in a precarious situation, it’s in a dangerous state and there’s a risk that it may go out of business. cautious precautious precarious embarrassing Gapfilling 1 I am up to my e(yes/eyes) at the moment. Would you be able to give me a hand with these progress report for tomorrow’s meeting. 2 R(aw/raw) material is the basic material from which a product is made. 3 R(etention/retention) is the continued use, existence or possession of something or someone. 4 P(erk/perk) is an advantage or extra thing, such as money or goods, which you are given because of your job. Common s(ense/sense) is the basic level of practical knowledge and judgment that we all need to help us live in a reasonable and safe way. 10. People talk much about need for work that gives them quality of life, the work-life b(alance/balance) and the a voidance of stress. A judicious system of p(erks/perks), such as housing allowances or extra holidays should be devised. When the staff feel responsible and accountable for their own work, and when they are somehow involved in the decision-making p(rocess/process), their job satisfaction increases. 6 To d(evise/devise) means to invent a plan, system, object, etc. usually cleverly or using imagination. 7 â€Å"D(esperation/desperation)† is the feeling that you have when you are in such a bad situation that you are willing to take risks in order to change it. Everyone needs to continue to develop personally and p(rofessionally/professionally) on the job. A â€Å"s(tatus quo/status quo)† is the situation as it is now, or as it was before a recent change. 8. A s(hareholder/shareholder) is a person who owns some of the equal parts into which the ownership of a company is divided. 9. Our general manager is in c(harge/charge) of running the company and for making joint strate gic decisions with the CEO.Unit 6 21. The treatment of a risk in one area may significantly increase the †¦Ã¢â‚¬ ¦ to risk in another area. contact exposure revelation disclosure 22. Failure to attempt †¦Ã¢â‚¬ ¦ the risks that can occur can easily result in a project riddled with potential for failure. managing manage to manage managed 23. While risk management has†¦Ã¢â‚¬ ¦ improved in the last decade, the risks have changed. undoubted undoubting undoubtedly undoubtful 24. Recovery plans of companies should include making certain their vendors and suppliers are also prepared for business †¦Ã¢â‚¬ ¦. interferences interruptions nterventions intrusions 1. The SIA offers a unique forum for dealing with health and †¦Ã¢â‚¬ ¦ issues that may impact manufacture or sale of semiconductors domestically. safety protection security well-being 2 We need executives who can manage strategic risks properly in addition to being able to †¦Ã¢â‚¬ ¦ decisive action whenever necessary. make take do work 3. The company is losing direction and its core products are losing †¦Ã¢â‚¬ ¦.. appeal appearance tempt picture 4. There was a marked growth in turnover, †¦Ã¢â‚¬ ¦ the group’s rapid expansion over the last decade. reflect reflects reflected eflecting 5. Implementing a systematic †¦Ã¢â‚¬ ¦ to workplace safety will require a cultural change in many organizations and within the safety profession. way methodology road approach 6. Company policy and workstation practice must dictate that safety never takes a back †¦Ã¢â‚¬ ¦ to other interests. chair sit seat row No one should tolerate a potentially disabling or life-threatening risk in the †¦Ã¢â‚¬ ¦ of cost-cutting, productivity or any other priority. name image title behalf It is impossible to †¦Ã¢â‚¬ ¦ all risk when entering a new market. legitimate designate imitate eliminate 9.Research show that one-third of the world’s leading companies have †¦Ã¢â‚¬ ¦ for i mprovement. place location area room 10. Unless businesses accept and review risk regularly, they could eventually find themselves in a state of crisis, struggling to survive †¦Ã¢â‚¬ ¦ focused growth. instead than but rather than Gapfilling 1. If a risk is n(egligible/negligible), it is so small that that it is not worth worrying about. 2. â€Å"A(ctuary/actuary)† is a person who calculates how likely accidents, such as fire, flood or loss of property, are to happen, and tells insurance companies how much they should charge their customers. . Many business leaders are s(cratching/scratching) their heads when it comes to protecting their business against risks. 4. Businesses that do attempt to manage these risks will boost their b(ottom/bottom) lines. 5. â€Å"H(azard/hazard)† is something that is dangerous and likely to cause damage. 6. Absenteeism is the practice of regularly staying away from work or school without good reason. 7. There is a lot companies can do to stop risky events from becoming a disaster in the first p(lace/place). 8. â€Å"C(raftsmanship/craftsmanship) is the skill at making things. 9.Joint v(enture/venture) is a commercial enterprise undertaken jointly by two or more parties which otherwise retain their distinct identities. 10. â€Å"S(take/stake)† is a share or a financial involvement in something such as a business. If the risk is n(egligible/negligible), it is so small that it is not worth worrying about. â€Å"D(icey/Dicey)† is an informal word which means the same as â€Å"risky†. â€Å"Economic b(lockade/blockade)† is a situation when a country or place is surrounded by soldiers or ships to stop people or goods from going in or out. Unit 7 26. †¦Ã¢â‚¬ ¦from Facebook, Fotobounce can also upload photos to Flickr.Away Apart Except Separated To be open and transparent as part of our commitment to boost public †¦Ã¢â‚¬ ¦ in publicly funded education. reliance possession confidenc e intimacy 28. Vehicle loan providers have set up internet †¦Ã¢â‚¬ ¦ where they allow clients to fill out loan applications on the internet. functions working operations actions 29. Yoox. com chose to launch in Europe first, close to the designers †¦Ã¢â‚¬ ¦ goods it sells. that which whom whose 30. We enjoy working with companies that want to †¦Ã¢â‚¬ ¦ the online world and generate revenue through the ‘ world wide web' (www). mbrace contain hold encircle 1 †¦Ã¢â‚¬ ¦biggest US retailers are developing integrated operations. Some of the Some the Some of Of the 2. The company has expanded well beyond its †¦Ã¢â‚¬ ¦ as a seller of books and CDs, acting as an online mall selling everything from gourmet foods to clothing. basis ground causes roots 3. JC Penney, the century-old department store chain, †¦Ã¢â‚¬ ¦ its Internet sales reach $600m last year. saw looked pointed stared 71. If you waste your company's money you could risk going bankrupt because th e money that you are wasting could be better spent else where. oing go to go went 72. If you †¦. customize a product or service, you make or change it according to the buyer’s need. customize individualize justify commercialize 73. Smarterwork does an excellent job of matching freelance†¦. professionals to organizations looking for particular skills. professors professionals employers recruiters 74. If you are †¦.. browsing the Internet, you are looking for information on it. seeking investigating browsing logging on 75. A directory is a book which gives a list of names, addresses or other facts. dictionary postal directory guidebook 76.Major players such as Coca-Cola are now seeing their Facebook pages receive more hits†¦ than their individual websites. comers guests strikes hits 77. A gourmet is a person who knows a lot about food and cooking, and who enjoys eating high-quality food. eater taster appetite gourmet 78. High-street products are those that a re intended for ordinary public and not for rich people. high-street low-street common usual 79. Russian internet company Yota has grown from †¦Ã¢â‚¬ ¦ to become one of the largest firms in the market. basics scratch nothing fundamental 80. Internet shopping is easier, more convenient and offer bigger†¦. nd a lot of the major retailers are having to get to grips with it because consumers are dragging them into the space. sorts goods ranges kinds 81. As we didn’t understand the potential impact of e-purchasing early enough, so we are lagging behind our competitors. coming stepping lagging walking 82. Our company will be able to compete in the new global marketplace only if we seize the opportunities present. seize Do Make hold Fillblank 1. Search e(ngine/engine) is a computer program which finds information on the Internet by looking for words which you have typed in. To l(itter/litter) means to spread across an area or place untidily. 3. A s(tart-up/start-up/ start up/tart up) is a newly established business. â€Å"A(utonomy/autonomy) is the ability to act and make decisions without being controlled by anyone else. 4. Bricks and m(ortar/mortar) is the term used to denote a business that operates conventionally rather than over the Internet. 5. M(ail-order/mail-order/ mail order/ail order) is a way of buying goods in which you choose what you want, usually from a catalogue, and it is sent to you. FillBlank Unit 1 1.As an instructor she has s(ense/sense) of humor, she is enthusiastic and sets long-span goals. 2. â€Å"C(orporate/corporate) i(dentity/identity)† is the characteristics of a  corporation  which is designed to accord with and facilitate the attainment of business objectives. It is usually visibly manifested by way of branding and the use of  trademarks. 3. To encourage effective communication between departments, the Trust was keen to adopt open p(lan/plan) office accommodation. Unit 2 4. The process of expanding b(eyon d/beyond) the domestic market can seem very intimidating and daunting for many small businesses. . If you state an amount per c(apita/capita), you mean that amount for each person. 6. An o(utlet/outlet) is shop that owned by a particular company and that sells the goods which the company has produced. 7. One of the big problems for smaller investors is getting a f(oothold/foothold) in the commercial property market. 8. F(oreign/forgeign) e(exchange/xchange) is the system by which the type of money used in one country is exchanged for another country's money, making international trade easier. Unit 3 9. If you b(reak/break) off a talk with someone, you stop it because you can’t find agreement. 0. ILT Services is set to b(uild/build) up a sales network for Poland, the Czech Republic, Slovakia and Hungary. 11. LABG is a student organization whose purpose is to f(oster/foster) the relations between Chicago Booth and Latin American people. Unit 4 12. The customer b(ase/base) is th e group of  customers  or  consumers  that a  business  serves. 13. A w(holly/wholly) owned subsidiary is a company whose stock is entirely owned by another company. 14. C(osmetic/cosmetic) s(urgery/surgery) is any medical operation which is intended to improve a person's appearance rather than their health. 15.If you o(utbid/outbid) someone for something, you offer more money than him or her to buy that thing. Unit 5 16. â€Å"C(omission/commission)† is the payment to someone who sells goods which is directly related to the amount of goods sold. 17. C(ommon/common) sense is the basic level of practical knowledge and judgment that we all need to help us live in a reasonable and safe way. 18. If you get a pay r(ise/rise), you have an increase in the fixed amount of money you earn for doing your job. 19. Like the rest of the world, Canada will face a labour c(runch/crunch/crisis/risis) in the next 10 years. Unit 6 20.Successful modern leaders should be supportive of staff, but should also take d(ecisive/decisive) action to maintain standards of behaviour. 21. A h(azard/hazard) is something that is dangerous and likely to cause damage. 22. Staff t(urnover/turnover) is the rate at which employees leave a company and are replaced by new people. 23. â€Å"A(bsenteeism/ bsenteeism)† is a habitual  pattern  of  absence  from a  duty  or  obligation. Traditionally, it has been viewed as an indicator of poor individual performance. 24. Financial services firms are ahead of the curve when it c(omes/comes) to risk management practices.Unit 7 26. A d(irectory/directory) is a book that gives a list of names, addresses or other facts. 27. A p(ioneer/pioneer) is a person who is one of the first people to do something. 28. M(ail/mail) o(rder/order) is way of buying goods in which you choose what you want, usually from a  catalogue, and it is sent to you. 29. If someone or something is home-g(rown/grown), they belong to or were develope d in your own country. 30. If a product or a service is e(xclusive/exclusive), it is expensive and only for people who are rich or of a high social class. IndicateMistakes Midterm 1.In the Harvard Business School professor Theodore Lewitt’s seminal paper The Globalization of Market, (written) in 1983, he argued that, as new media and technology shrank the world, people’s tastes would converge, (creating) a single global market that (would be dominated) by the world’s most (success) brands. 2. So when the Berlin Wall (fell) and the barriers (to) world trade (came down), it seemed Prof Lewitt would be proved (rightly). 3. Global brand owners (poured into) the (newly opened markets) and, facing (few competition) in countries (unaccustomed to) consumer culture, they thought they would clean up.Then some awkward commercial realities started to close in. 4. Once local consumers (had tried) these new products, they (found) them (far too expensively) to buy (on regular basis), even if they liked them. 5. And soon, local producers (sprang up) (offer) much better (value for money) with products of only (slightly inferior quality) at a vastly lower price. 6. (Usually), too, these products were (better suited) to local tastes and cultural preferences than (that) being (foisted onto) consumers by the global corporations. 7.The global brand owners were left (spreading) their advertising and other (fixing costs) over (tiny market shares) and often faced (extra costs), such as tariffs. 8. In (many of) these countries today, global brand owners command the (super-premium end) of he market in any (given product category), while local brands command (rest). 9. The global brand owners could try (to move) into the mass market by (creating) low-price products (design) to suit local tastes, but that would throw them into head-on competition with local companies possessing better distribution channels and a (far deeper understanding) of the market. 0. Increasingl y, therefore, they have resorted to (buying) local brands and the companies (whose) own them. And here, of course, (lies) the paradox. Whatever is the point of owning a global brand if it does not (work) in global market? Final exam 1. (On the surface), flexible working might (seem to be) about people (being) able to choose their working hours and, perhaps, spend some time (to work) away from the office. 2. But it is also (a fundamental change) in the way (people work)- and, (more importantly), the way (they managed). 3.Flexible working is (a shift) from â€Å"time-based† to â€Å"result-based† (working practices) and could herald the biggest change (for) the (workplace) since the (start) of the industrial revolution. 4. New employee legislation is one of the main (motivation) for employers (to introduce) flexible working practice-but not the only one. In Europe, for example, employers are obliged (to offer) parents with young or disabled children the right (to request ) flexible working. 5. While legislation is a major catalyst to (introducing) flexible working, there are other reasons.In the US, for example, the fall in the price of (mass market computer) and communications technologies (are) encouraging organization (to allow) more home working. 6. Flexible working is also (likely) to (appeal to) a wider skill pool and help with (staff retention). Marry Sue Rogers, human capital management leader at IBM Global Service, says that IBM has embraced flexible working (helping) with recruitment. 7. In Europe, companies have to (provide) flexible working (because of) legislation-but it is also a way (to recruit) from a broader skill pool, (include) women and older people. . (With) an (ageing) workforce we have to find ways to retain older staff. It also gives (greater scope) to male employees who (increasing) want flexible working to create a better work/life balance. 9. Although new legislation (is forcing) organizations (to adopt) flexible working p ractices, there are (sound) business reasons to give employees more (flexible). 10. Organizations which have (embraced) flexible working have found that it can (cut costs) and improve productive). More importantly, it enables them (to recruit) staff from much broader skill pool and retain staff.Resit 1. Management (at) large organizations do not embark (on) widespread and risky company restructurings (unless) they believe their businesses are (for) straitened financial circumstances. 2. And the potential long-term damage (with) company branding that can be done if staff and managers clash publicly (over) plans will almost always take a back seat (to) other priorities, such as getting the business back (into) profit. 3. Nevertheless, brands are (a key part) of the intangible assets that (is) playing an (increasingly) important role on company (balance sheets). 4.This (means) that it can be a serious issue for any business if its brands emerge as (tainted) in the long term by strikes and other industrial conflicts. If this is the (risky), how can corporations or other (branded organizations) reduce this danger? 5. Langford estimates that about a third of his clients’ problems (with respect to) this risk (are) caused by the behavior of their (staff); with industrial action and disaffected workers (be) the most common examples. 6. Poor industrial relations do not come about (in isolation). They reflect (on) the business (as whole) and the way (in which) it is being managed. 7.If the management think the brand is (something) (done) by the marketing communications department, (this) makes for very poor brand (strategic). 8. The danger here for service companies (is) that the impression of the brand (given) to the customer is often dictated by the (behave) of staff at the bottom of the (organization hierarchy). 9. Brands (represent) the (value) of the organization’s relationship with (their) customers. It’s the one thing (a competitor) cannot cop y. 10. Companies are not able (to insure) against (declines) in brand value, but often compound the problem by (not manage) the risk to (their) most valuable asset.Indicate mistakes Midterm (1-3) 1. The communication between companies and customers is (increasing) becoming two-way, with customers service centres (designed) to gather information, not just (complaints), from customers about (all aspects of use) of a company’s products. 2. (Some) say that first impressions (count). (Another) think that someone’s character can only be judged after a lot of (contact) in business contexts and socially. 3. A new trend for companies (to set up) e-marketplaces on the Internet (that) they work together (on) procurement of materials and parts.Suppliers can make bids (in competition with) each other. 4. When firms work together (on) a particular project, they may (enter) into a strategic alliance. This may (take the format) of a (joint venture) between two or three companies or a consortium between several organizations. 5. Globalization has (affected) marketing strategies in many ways. In the past, for example, the best way to enter a market tended (be) the main concern. Today, (by contrast), international marketers ask themselves whether it is better to standardize or to adapt a product (across) different markets. . (Finding) the right international mix has (become) one of the key (question), and answers vary (greatly) from company to company and from product to product. 9. HCPS is a private health care organization (based) in Geneva, Switzerland. It (offers) advice and (treat) to wealthy people and company employees (all over the world). 10. The HCPS group was (formed) a year ago, (following) a takeover of HCP by Sanicorp, another health care organization. Since the takeover, the company has become more centralized, with more decisions (is) made by the top management at (head office).Final (1-7) 1 It (estimated) that 90 per cent of (medium) to large compa nies that could not (resume) near-normal operations within five days of an emergency would (go out of) business. 2 While acts of terrorism receive the most (coverage), it’s the more traditional (events) such as fires, floods, explosions, power failures or natural disasters (who) have the biggest (impact). 3 To (best) protect cashflow, competitive position and profit, companies need to (access) the potential hazards that can (impact) top revenue sources and make sure (there is) business continuity planning. 4. Getting) to a (win-win situation) clearly requires (a number of) special skills, such as (make) concessions. 5. After 17 years of (lobbying) by Mr Greenberg, AIG was the first foreign (insurer) (being) allowed (in to) China. 6. Over the (past) six years, Samsung (fights) to move its brand image more (upmarket) to compete with (premium) names, such as Sony. 7. Pressure has (mounted) on Samsung to keep its (efforts). The company recently slipped back (into) third place beh ind Motorola (on) mobile handset sales. 8. It is clear that young people have a (huge impact) (over) their parents and older people (when) it comes to (choose) technology. . (On) the surface, flexible working might seem to be about people (be) able to choose their working hours, and perhaps, spend (some time) working away from office. But it is also a fundamental change in the way people work, and more (importantly) the way they are managed. 10. (Flexible working) is also likely to appeal (with) a wider (skill pool) and help (with) staff retention. Resit (1-7) 1 People are happiest not only when they are (respected member) of a team (they admire) (but) when the team and the company are respected by (the world outside). Being (part) of a (trusted), honest group is an indispensable component of employee happiness and engagement. So (is) (establish) ties with colleagues you respect. 3 Management at large organizations do not embark (on) widespread and (risk) company (restructurings) un less they believe their businesses are in (straitened) financial circumstances. 4. Brands (are) a key part of the intangible (assess) that are (playing) an increasingly important role (on) company balance sheets. 5. It can be a serious issue (for) any business if its brands (emerge) as tainted (in the long term) by strikes and (another) industrial conflicts. . (Figures) out from 2004 from Ofcom, the communications regulator, (showed) that more than 56 per cent of homes had internet (access), with a third of those (have) a broadband connection. 7. Externally, advertising has been the most visible (form) of communication (with) customers. (Usual) this is designed to increase product sales, but there is also institutional advertising, designed to improve perceptions of company (as a whole). 8. UK companies have failed in the past (prepare) their (staff) in key areas before (sending) them abroad. What’s new is that they are starting to (pay attention to) it. . While 89 per cent o f companies formerly assess a candidate’s job skills prior to a foreign posting, less than half go through the same process for cultural suitability. 10. Several department heads are unhappy because they can’t get a quick answer when they want to spend money, even small sums. When they ask their present line manager 1. In 1967, John Kenneth Galbraith argued that the USA (was run) by a handful of big companies (who) planned the economy in the name of stability. These were (hierarchy) and bureaucratic organizations (making) long runs of standardized products. 2.They introduced â€Å"new and improved† (varieties) with predictable regularity; they provided their workers (for) lifetime employment and they enjoyed (fairly) good industrial relations with the (giant trade unions). 3. That world is now dead. The US’s giant corporations have either (disappeared) or (be transformed) by global competition. (Most) have shifted their production systems from high-volume to high-value, from standardized to customized. And they have (flattened) their management hierarchies. 4. Few people these days expect (to spend) their lives (to move) up the ladder of a single organization.Dramatic changes (are taking place). But where exactly are they (taking up)? Where is the modern company heading? 5. These are three standard answers (to) this question. The first is that a handful of giant companies are engaged (with) a â€Å"silent takeover† of the world. The past couple of decades have (seen) a record number of mergers. The survivors are (far) more powerful than nation states. 6. The second (school of thought) argues (almost the opposite): it (says) that big companies are thing of the past. For a glimpse of the future, look at the Monorail Corporation, (that) sells computers. 7.Monorail (owns no) factories, warehouses or any (others) tangible assets. It operates in an office building in Atlanta. (Freelance workers) are designing the computers while (d emand) is still low. 8. The third (school of thought) (says) that companies are being replaced by â€Å"net works†. Groups of entrepreneurs form such a network to market an idea. They then sell it to the highest bidder and (move on to) produce another idea and to create another firm, with the money (is) supplied all the time by venture capitalists. 9. Another way (to look) at the future of the company is (to focus) on the environment that will determine it.That environment is dominated by one thing: choice. Technology and globalization opens up (ever more) opportunities for individuals and (firm) to collect information and conduct economic activity outside traditional structures. 10. While the age of (mass production) lowered the costs of products (for) the expense of (limiting) choices, modern â€Å"flexible† production systems both (lower) costs and increase choices. 11. Consumers have more choice over where (will they spend) their money. Producers have more choice o ver which suppliers (to use). Shareholders have more choice over where (to put) (their) money. 12.With (all that choice) around, future (company) will have to be very flexible in order to (quickly adapt) to the changing environments if they (are to survive). 1. The nation was (in shock). David Beckham, Britain’s most (beautiful) footballer emerged from his house on Monday morning (to allow) the world (photograph) a wound above his left eye. 2. Sir Alex Ferguson, manager of (his then team) Manchester United, had (lost his temper) after a defeat and(kick) a football boot, (which) hit the Beckham eyebrow. 3. In sports, more than in most businesses, the management tactics are (out in the open) for all to see.Not many managers try (to strangle) their subordinates-as Bobby Knight, a former basketball coach at Indiana University, (once do). But the ability (to inspire fear) has always been an essential tool of management. 4. (Lots of) successful chief executives (rule by terror). (N one), it must be said, (reaches) the standard (setting) by John Patterson, who built NCR early in the 20th century. 5. One NCR executive discovered he (had been fired) when he found his desk and chair (in flames) on the company lawn. Modern laws (on) constructive dismissal and employee harassment have put an end (with) such fun. . However, terror in the workplace is (making a comeback) these days. In an economic upswing, fear (goes underground). Workers are (scarcity), and therefore powerful; bosses must handle the talent (with) care. 7. When times (turn tough), the balance of power swings. As Hank Paulson, chairman of Goldman Sachs, (put it), in a speech that upset his staff, â€Å"in almost every one of our businesses, there are 15-20% of the people that really (adds) 80% of the value. † (In other words), 80-85% are largely redundant-and had better shape up fast. 8. Does fear really motivate?In sport, says Scott Snook, who teaches organizational behavior at Harvard Business School, â€Å"fear can become a barrier to (take) risks, (yet) can provide the essential emotional kick needed to (meet) a challenge. † Coaches need to (strike) the right balance in order to develop talent. 9. Yet (use) in boardroom, fear can be disastrous. Tony Couchman, a headhunter at Egon Zehnder in London, (recalls) the board of a large firm with a chief executive who so dominated his directors that they (rarely) questioned or challenged him. â€Å"Success in such a company depends on (having) a great leader and a steady market,† he argues. 0. Jim Collins, author of a book that explains why some firms (succeed in) making the jump â€Å"from good to great’ and (other) fail, found that the approach (to) fear was a key distinction among firms that he surveyed. He found that in the (truly) successful firms people were â€Å"productively neurotic†. 11. At Microsoft, for example, employees worry all year (at the prospect) of their annual meetings with Bi ll Gates, (who) even (being shouted at) would not hurt as much as (seeming) to be an idiot. 12. The (driving) fear of failure, points out Mr.Collins, is not unique (to) corporate life. â€Å"I’m self-employed, and I live with constant fear,† he says. â€Å"But I’m self-afraid. † That kind of fear is common among creative artists and also in professional services (where) the person is the product and lots of fragile egos have to (manage). 1. In its 30-year history, Nike had become the (undisputed) leader in sports marketing. But beneath the success (was) an Achilles’ heel. Nike is named (for) a woman – the Greek goodness of victory-but for most of its history, the company had been perceived as (being) mostly about men. . Could Nike do more to realize full potential of female customers? And how could it afford (not to), given the threats to its future with Air Jordan (ran) out of air and brands like Sketchers (digging) into the teen market wit h shoes inspired by skateboarding, not basketball. That was a huge question at Nike HQ. The launch of Nike Goddess was the (makings) of an answer. 3. For (many of) its history, Nike’s destiny was controlled by its founders, Phil Knight and his (running buddies), who designed up athletes in locker rooms and made the (executive decisions).But by throwing together a diverse team of people with different backgrounds and different levels of seniority, Nike has found that it can keep (many of) its core attributes while (adding) news sources of inspiration. 4. (Taking) the (combination) of star designer John Hoke and newcomer Mindy Grossman, vice president of global apparel. Hoke designed (the look) and (feel) of the first Nike Goddess store. 5. Then Grossman, whose career has included (helping) (making) Ralph Lauren into a retail icon, pitched the design ideas to Nike’s top retailers as stores within stores.Now it (looks) like Nike has a chance (to reach) a crucial objective : double its sales to women by the end of the decade. 6. Nike Goddess began (as a concept) for a women-only store, and there’s a reason why. (Many) of the retail settings in which the company’s products were found were a turnoff to female customers: dark, loud, and harsh- in a word, male. (On sharp contrast), the Nike Goddess stores have the comforting (feel) of a woman’s own home. 7. Designing a new approach to retail was only one element in Nike’s campaign. (Another) was redesigning the shoes and clothes (themself).Nike’s footwear designers worked (on) 18-month production cycles-which made (it) hard to stay in step with the new styles and colours for women. 8. The apparel group, (which) worked around 12-month cycles, was better at (keeping on with) fashion trends. But (that) (meant) that the clothes weren’t co-ordinated with the shoes-a big turnoff for women. 9. When Jackie Thomas, Nike’s US brand marketing director for w

Details of Student Written Procrastination Essay Samples

Details of Student Written Procrastination Essay Samples When in school it's quite essay for a number of students to procrastinate until the previous essay on major assignments. If you don't accomplish the task you've already delayed, you're feeling bad and push it off even further. Also, be sure to check whether the task relates to one of your aims. In case the task you require to go done is boring, it's very probable that you won't need to start. Don't put off getting going on a project for the reason that it feels like it's going to be simple to gather. One of the principal reasons that individuals procrastinate is because the project which they need to tackle is so big, they don't know the best places to begin. As it's simpler to pick up an in-progress project, be certain to receive it started as soon as possible. Just take a few moments to think about precisely how to break down a bigger task and schedule it in your calendar in pieces. Other situations the purpose is unpleasant or aversive and we must be super-motivated to do it. Lazy people decide to do less urgent things which are more pleasurable. Or it might be a coach who helps you keep on track. When it's boring, find a means to make getting it done fun. The Demise of Student Written Procrastination Essay Samples On the day, you need to finish your big undertaking, specify a timer. Be realistic with the term of time you set. External deadlines are somewha t more powerful than our own. Student Written Procrastination Essay Samples - Overview If you procrastinate you'll be more prone to essay this important step. For instance, if you wish to compose a book, you might decide to make an outline, identify each chapter, work out the sections in the chapters, then commit to writing one segment at a moment. At times the simplest strategies are the very best strategies of all. It's an easy and actionable step-by-step guide. The purpose of the study was supposed to establish the relation which exists between efficacy expectations, gender and procrastination. On its methodology, it considered the use of questionnaire tool. The very first is the demand for a research, which considers a lot of different samples. For instance, don't set unreasonably ambitious objectives. It might be a promise to your boss or client you will finish the job by a specific date. You don't need to wait until you've got a perfect, detailed plan of how you're likely to reach your goal before you start to act. Whenever person is confronted with a tricky undertaking. Or simply locate an accountability partner. The more you own a procrastination personality, the more the environment should be ideal for you to have it done. Here, any response that could be related to procrastination was provided a score of 1. You might be procrastinating as you feel you're being forced by somebody else to execute a task which you don't wish to do. Procrastinating is procrastination that everyone does at some point or another in their lives. In procrastination today, no matter in which you look you're going to locate people that seem to find a thrill from procrastinating. Among the biggest reasons why assignments receive a terrible mark or are incomplete is due to procrastination. Fear is a really strong emotion. Helping Students Develop Procrastination Awareness Procrastination syndrome is a challenging phenomenon to cope with. It tends to strike when you have to stop and think, so have everything you need to hand and then lock yourself away. It is finding the most difficult way of doing something. Thinking concrete helps you begin. Immersing yourself in the custom of Deep Listening will enable you to nurture your own well-being. The very first limitation was based on the simple fact that the choice of samples was done non-randomly. As a consequence of the delay, you find yourself not doing it. The following are a few of the principal reasons people procrastinate. Do thing on a need to do basis and forego the notion that you want to keep up with a few ideal schedule. You could procrastinate because you're scared of losing your source of revenue. There are several ways to attain this depending on various scholars. In fact, there are no any great advantages except that you're entertained. Student Written Procrastination Essay Samples - the Story Perhaps you're even reading this short article to achieve that. For instance, you wish to compose a book. If nothing else, you are going to be made to read a book to procrastinate, and it's tricky to regret a great book under any conditions.

What Is Personification - Definition and Examples

Personification is a figure of speech in which an inanimate object or abstraction is given human qualities or abilities. At times, as with this personification of the social-networking service Twitter, a writer may call attention to her use of the figurative device: Look, some of my best friends are tweeting. . . .But at the risk of unilaterally offending 14 million people, I need to say this: If Twitter were a person, it would be an emotionally unstable person. It would be that person we avoid at parties and whose calls we dont pick up. It would be the person whose willingness to confide in us at first seems intriguing and flattering but eventually makes us feel kind of gross because the friendship is unearned and the confidence is unjustified. The human incarnation of Twitter, in other words, is the person we all feel sorry for, the person we suspect might be a bit mentally ill, the tragic oversharer.(Meghan Daum, Tweeting: Inane or Insane? Times Union of Albany, New York, April 23, 2009) Often, however, personification is used less directly--in essays and advertisements, poems and stories--to convey an attitude, promote a product, or illustrate an idea. Personification As a Type of Simile or Metaphor Because personification involves making a comparison, it can be viewed as a special kind of simile (a direct or explicit comparison) or metaphor (an implicit comparison). In Robert Frosts poem Birches, for example, the personification of the trees as girls (introduced by the word like) is a type of simile: You may see their trunks arching in the woodsYears afterwards, trailing their leaves on the ground,Like girls on hands and knees that throw their hairBefore them over their heads to dry in the sun. In the next two lines of the poem, Frost again uses personification, but this time in a metaphor comparing Truth to a plain-speaking woman: But I was going to say when Truth broke inWith all her matter-of-fact about the ice-storm Because people have a tendency to look at the world in human terms, its not surprising that we often rely on personification (also known as prosopopoeia) to bring inanimate things to life. Personification in Advertising Have any of these people ever appeared in your kitchen: Mr. Clean (a household cleaner), Chore Boy (a scouring pad), or Mr. Muscle (an oven cleaner)? How about Aunt Jemima (pancakes), Capn Crunch (cereal), Little Debbie (snack cakes), the Jolly Green Giant (vegetables), Poppin Fresh (also known as the Pillsbury Doughboy), or Uncle Ben (rice)? For over a century, companies have relied heavily on personification to create memorable images of their products--images that often appear in print advertisements and TV commercials for those brands. Iain MacRury, a professor of consumer and advertising studies at the University of East London, has discussed the role played by one of the worlds oldest trademarks, Bibendum, the Michelin Man: The familiar Michelin logo is a celebrated instance of the art of advertising personification. A person or cartoon character becomes the embodiment of a product or brand--here Michelin, manufacturers of rubber products and, notably, tires. The figure is familiar in itself and audiences routinely read this logo--depicting a cartoon man made of tires--as a friendly character; he personifies the product range (in particular Michelin tires) and animates both product and brand, representing a culturally recognized, practical and commercial presence--reliably there, friendly and trusted. The movement of personification is close to the heart of what all good advertising tends to try to achieve.(Iain MacRury, Advertising. Routledge, 2009) In fact, its hard to imagine what advertising  would be like without the figure of personification. Heres just a small sample of the countless popular slogans (or taglines) that rely on personification to market products ranging from toilet paper to life insurance. Kleenex says bless you.(Kleenex facial tissues)Nothing hugs like Huggies.(Huggies Supreme diapers)Unwrap a smile.(Little Debbie snack cakes)Goldfish. The snack that smiles back.(Goldfish snack crackers)Carvel. Its what happy tastes like.(Carvel ice cream)Cottonelle. Looking out for the family.(Cottonelle toilet paper)The toilet tissue that really cares for Downunder.(Bouquets toilet paper, Australia)Youre in good hands with Allstate.(Allstate Insurance Company)Taste me! Taste me! Come on and taste me!(Doral cigarettes)What do you feed a machine with an appetite this big?(Indesit washing machine and Ariel Liquitabs, laundry detergent, UK)The heartbeat of America.(Chevrolet cars)The car that cares(Kia cars)Acer. We hear you.(Acer computers)How will you use us today?(Avery Labels)Baldwin Cooke. Products that say Thank You 365 days a year.(Baldwin Cooke calendars and business planners) Personification in Prose and Poetry Like other types of metaphors,  personification  is much more than an ornamental device added to a text to keep readers amused. Used effectively, personification encourages us to view our surroundings from a fresh perspective. As Zoltan Kovecses notes in  Metaphor: A Practical Introduction  (2002), Personification permits us to use knowledge about ourselves to comprehend other aspects of the world, such as time, death, natural forces, inanimate objects, etc. Consider how John Steinbeck uses personification in his short story Flight (1938) to describe the wild coast south of Monterey, California: The farm buildings huddled like the clinging aphids on the mountain skirts, crouched low to the ground as though the wind might blow them into the sea. . . .Five-fingered ferns hung over the water and dropped spray from their fingertips. . . .The high mountain wind coasted sighing through the pass and whistled on the edges of the big blocks of broken granite. . . .A scar of green grass cut across the flat. And behind the flat another mountain rose, desolate with dead rocks and starving little black bushes. . . .Gradually the sharp snaggled edge of the ridge stood out above them, rotten granite tortured and eaten by the winds of time. Pepe had dropped his reins on the horn, leaving direction to the horse. The brush grabbed at his legs in the dark until one knee of his jeans was ripped.​ As Steinbeck demonstrates, an important function of personification in literature  is to bring the inanimate world to life--and in this  story, in particular, to show how characters may be in conflict with a hostile environment. Now lets look at some other ways in which personification has been used to dramatize ideas and communicate experiences in prose and poetry. The Lake Is a MouthThese are the lips of the lake, on which no beard grows. It licks its chops from time to time.(Henry David Thoreau,  Walden)A Snickering, Flickering PianoMy stick fingers click with a snickerAnd, chuckling, they knuckle the keys;Light-footed, my steel feelers flickerAnd pluck from these keys melodies.(John Updike, Player Piano)Fingers of SunshineHadnt she known that something good was going to happen to her that morning--hadnt she felt it in every touch of the sunshine, as its golden finger-tips pressed her lids open and wound their way through her hair?(Edith Wharton,  The Mothers Recompense, 1925)The Wind Is a Playful ChildPearl Button swung on the little gate in front of the House of Boxes. It was the early afternoon of a sunshiny day with little winds playing hide-and-seek in it.(Katherine Mansfield, How Pearl Button Was Kidnapped, 1912)The Gentleman CallerBecause I could not stop for Death--He kindly stopped for me--The Carriage held but just Ourselves--An d Immortality.We slowly drove--He knew no hasteAnd I had put awayMy labor and my leisure too,For His Civility--We passed the School, where Children stroveAt Recess--in the Ring--We passed the Fields of Gazing Grain--We passed the Setting Sun--Or rather--He passed us--The Dews drew quivering and chill--For only Gossamer, my Gown--My Tippet--only Tulle--We paused before a House that seemedA Swelling of the Ground--The Roof was scarcely visible--The Cornice--in the GroundSince then--tis Centuries--and yetFeels shorter than the DayI first surmised the Horses HeadsWere toward Eternity--(Emily Dickinson, Because I could not stop for death)PinkPink is what red looks like when it kicks off its shoes and lets its hair down. Pink is the boudoir color, the cherubic color, the color of Heavens gates. . . . Pink is as laid back as beige, but while beige is dull and bland, pink is laid back with  attitude.(Tom Robbins, The Eight-Story Kiss.  Wild Ducks Flying Backward. Random House, 2005)Love Is a BrutePassions a good, stupid horse that will pull the  plough  six days a week if you give him the run of his heels on Sundays. But loves a nervous, awkward, over-mastering brute; if you cant rein him, its best to have no truck with him.(Lord Peter Wimsey in  Gaudy Night  by Dorothy L. Sayers)A Mirror and a LakeI am silver and exact. I have no preconceptions.Whatever I see I swallow immediatelyJust as it is, unmisted by love or dislike.I am not cruel, only truthful--The eye of a little god, four-cornered.Most of the time I meditate on the opposite wall.It is pink, with speckles. I have looked at it so longI think it is part of my heart. But it flickers.Faces and darkness separate us over and over.Now I am a lake. A woman bends over me,Searching my reaches for what she really is.Then she turns to those liars, the candles or the moon.I see her  back,  and reflect it faithfully.She rewards me with tears and an agitation of hands.I am important to her. She comes and go es.Each morning it is her face that replaces the darkness.In  me  she has drowned a young girl, and in me an old womanRises toward her day after day, like a terrible fish.(Sylvia Plath, Mirror)Knocks and SighsThe glacier knocks in the cupboard,The desert sighs in the bed,And the crack in the tea-cup opensA lane to the land of the dead.(W.H. Auden, As I Walked Out One Evening)Devouring, Swift-Footed TimeDevouring Time, blunt thou the lions paws,And make the earth devour her own sweet brood;Pluck the keen teeth from the fierce tigers jaws,And burn the long-lived phoenix in her blood;Make glad and sorry seasons as thou fleets,And do  whateer  thou wilt, swift-footed Time,To the wide world and all her fading sweets;But I forbid thee one most heinous crime:O, carve not with thy hours my loves fair brow,Nor draw no lines there with thine antique pen;Him  in thy course untainted do allowFor beautys pattern to succeeding men.Yet, do thy worst, old Time: despite thy wrong,My love s hall in my verse ever live young.(William Shakespeare, Sonnet 19) Its your turn now. Without feeling that youre in competition with Shakespeare  or Emily Dickinson, try your hand at creating a fresh example of personification. Simply take any inanimate object or abstraction and help us see or understand it in a new way by giving it human qualities or abilities.