Sách Market Leader Upper Intermediate – Unit 6: Risk – Tiếng anh thương mại – Học Hay (Phần 1)

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Market Leader Upper Intermediate – Unit 6: Risk - Listening

 

A. Listen to Steve Fowler, Managing Director of the Institute of Risk Management, and give one example of internal risk and one example of external risk.

 

Đáp án:

Internal risk:  injuries to employees within a factory, fire in a warehouse

External risk: earthquake, tsunami, change in exchange-rate mechanism

 

B. Listen again and complete the chart.

Đáp án:

1. hurricanes   

2. floods   

3. employment

4. lack of liquidity*   

5. competition

6  availability of new technology

*Means that a company has little immediately available cash, even though it has other assets. Not to be confused with insolvency, where a business can no longer operate because it has run out of money and is unable to borrow more

 

C. Listen to the second part of the interview. What are the five key steps to risk management?

 

Đáp án:

1. Recognise strategic objectives for organisation and key processes

2. Identify risks affecting the organisation (top down and bottom  up)

3. Assess and prioritise risks

4. Mitigate (explain this as reduce)  the risk and deal with it by a) treating it, b) terminating it. c) tolerating it or d) transferring it.

5. Flow actions back to strategic objectives

 

D. Listen to the final part. Which three examples does Steve give of organisations or industries that failed to manage risk? What does he say about each example?

 

Đáp án:

•    Banking industry: systematic and reckless risk-taking* with massive implications for the organisations, the banks, their shareholders and the world in general

•    US-based clothing retailer: lost 45 million credit-card details, losses of $80m and impact on reputation

•    Video-cassette industry: failed to anticipate changes in customer demand caused by new technologies

*Means making investments which will not only have implications for the parties involved, but also for the whole industry or market, and done so with a disregard for the possible negative consequences

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

anticipate        calculate       eliminate       encounter       estimate       evaluate       face       foresee       gauge         identify        measure         minimise       prioritise        reduce        spread        weigh up

 

predict

meet

assess

manage

 

Đáp án:

predict	meet	assess	manage
anticipate foresee	encounter identify	calculate estimate evaluate gauge measure weigh up	eliminate minimise prioritise reduce spread

 

B. Match these sentence halves from newspaper extracts.

1. During the credit crunch, many businesses...

2. We can reduce risk ...

3. Trying to minimise risk ...

4. It is impossible to ...

5. It is difficult to foresee the risks ...

6. Actuaries calculate risk ...

7. It is important to consider ...

a) the risks involved when sending staff to work in dangerous locations.

b) in order to advise insurance companies.

c) involved in setting up a new business.

d) eliminate all risk when entering a new market.

e) faced the risk of running out of money.

f) by spreading our lending across more markets.

g) is an important part of business strategy.

 

Đáp án:

1. e

2. f

3. g

4. d

5. c

6. b

7. a

 

C. These adjectives can be used with the word risk. Complete them with the missing vowels.

1. s l _ g h t

2. g r _ _ t

3. m _ n _ s c _ l _

4. c _ n s _ d _ r _ b l _

5. p _ t _ n t _ _ I

6. _ m m _ d _ _ t _

7. h _ g _

8. r _ m _ t _

9. s _ r _ _ _ s

10. n _ g l _ g _ b l _

11. s _ g n _ f _ c _ n t

12. _ m m _ n _ n t

13. s _ b s t _ n t _ _ l

14. t _ r r _ b l _

15. t r _ m _ n d _ _ s

 

Đáp án:

1. slight

2. great

3. minuscule

4. considerable

5. potential

6 immediate

7. huge

8 remote

9 serious

10. negligible

11. significant

12. imminent

13. substantial

14. terrible

15. tremendous

 

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

1. a high level of risk? a low level?

2. a possible future risk? a risk in the very near future?

 

Đáp án:

1.

High: great, considerable, huge, serious, significant, terrible, tremendous, substantial

Low: slight, remote, minuscule, negligible

2.

Possible: potential

Very near future: immediate, imminent

A. Which of these adverbs strengthen the adjective which follow and which soften it?

a bit      entirely       exceptionally       extremely        fairly       fully      highly        increasingly       moderately        quite        rather        reasonably         slightly          somewhat         totally        very

 

Đáp án:

Strengthen: entirely, exceptionally, extremely, fully, highly, increasingly, totally, very

Soften: a bit, fairly, moderately, quite, rather, reasonably, slightly, somewhat

 

B. Complete these dialogues with a suitable adverb.

1. 'What were your sales results like last year?'

' ............ good. I made my targets with two months to spare.'

2. 'What's your new CEO like?

'Extremely talented and ............ intelligent. She brings out the best in people.'

3. 'Do you really think we should invest in an ............ volatile market?'

'Well, first of all we should stay calm and review what we already own.'

4. 'What did you think of the H R Director's presentation?'

'To be honest, I don't think she was ............ prepared. She seemed to be reading it most of the time.'

5. 'Are you confident that the merger will go ahead?'

' ............ confident, although we still need a few more meetings to sort out one or two problems.'

 

 Đáp án:

1. Extremely/Exceptionally/Very

2. highly/very

3. increasingly/exceptionally/extremely

4. fully/very

5. Quite/Fairly/Reasonably

 

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