商务英语导论

Week1

•Definition of a business

•Difference between a business and a hobby

•Definition of entrepreneur

•Formula for profit

•Relevant terminology from this topic (e.g. revenue, profit, etc)

1.What’s a business?

Any activity that seeks to provide goods and services to others while operating at a profit

An activity that aims to produce goods or provide services to a third party (customers) A business is a legal entity that is set-up or designed to make goods, sell goods, or provide a service

is a legal entity that is set-up or designed to make goods, sell goods, or provide a service

2.Social Enterprises

A social enterprise is an organization that applies commercial strategies to maximize improvements in human & environmental well-being

Can be structured as a for-profit enterprise

3.Revenue:

the total amount of money a business takes in a given period by selling goods and services

Profit = Revenue > Costs

4.Entrepreneurs

A person who risks time and money to start and manage a business.

Week2 business in a changing environment

•Definition of entrepreneurship

•The different elements of the business environment

•The impact of each element of the business environment

•The definition of risk and the relationship between risk and profits

1.Nothing stays the same

In business as in life, CHANGE is the only certainty

The entrepreneur always searches for change, responds to it, and exploits it as an opportunity. –Peter F. Drucker

2.business environment

The surrounding factors that either help or hinder the development of businesses

The place, rules and groups within which a business operates

3.Risk & business environment

Much of the risks that businesses face come from their operating environment

Entrepreneurs tend to see opportunity in risk

A business environment with a reasonable level of risk encourages entrepreneurship

Too much risk may discourage business

4.The business environment

1)The economic and legal environment

2)The technological environment

3)The social environment

4)The global business environment

Risks & opportunities arise from these

5.Economic & legal environment

●The economic surroundings of a business

Includes banking sector, financial markets mechanisms & regulation机制与监管, fiscal policies, monetary policies

Includes legal frameworks & judicial system, property laws, IP & copyright laws

●Economic management & policies。Contract law, Rule of Law & enforcement。

Transparency & Corruption。Property rights

6.Technological environment

1)Includes Information Technology (IT), scientific fiels like rocket science, aerospacial

engineering, mechanical engineering, medical technology, etc. Internet, mobile devices, wireless technologies, medical imaging technology ...

2)Your environment ...How has your technological environment changed? What technologies

that you use evolved in the past few years?

3)Fast changing technologies Not just breakthroughs and inventions

Small, incremental changes Pace of change or velocity is much quicker

4)Businesses have to adapt products and services to keep up with competition

Businesses have to adapt the operating procedure to match customers’ adoption of new technologies (e.g. iPhones, iPads)

Businesses must adapt and exploit new technologies and technological change

5)Would you ...?Start an e-commerce or a physical retail store?

petitive environment

（1）The level of rivalry and competition in industry, sector and economic surrounding of the business Includes other businesses competing for customers

（2）More businesses competing for customers Due to opening up of markets to outside competition

Advancement of free-trade (e.g. by WTO)

（3）Customers become more discerning有辨识能力的, more Demanding要求高的, want more choice, better service and better/different experiences

（4）Different competitive strategies

Cost leadership vs Differentiation

Both create winners and losers

Customer expectations and preferences have changed

Increase competition for customer loyalty

Example: competitive smartphone market

8.Social environment

（1）societal and human factors surrounding a business Includes demography人口, social make-up(diversity), community values, citizen expectation

（2）Globalisation has brought about an internationalisation of business

Global customers, globally-aware customers Globally mobile customers

Immigration