新编剑桥商务英语高级unit2.ppt

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1、Unit TwoGrowing the companyAn Overview of Unit Two2.1 Business Topic(Growing the company)Vocabulary(Parts of a company)Vocabulary (Growing strategy)Reading(An article aboutSAP)Grammar (Past tenses)Writing(Write about the past)Reading (M&A)Listening (the PeopleSoft takeover)Writing (A press release)R

2、eading Speaking (An employee survey)2.1 Business TopicGrowing the company subsidiary division distribution after-sales services sell off go public list game logistics blockbuster insurance premiums stock broker 子公司 分部门 分销 售后服务 抛售 挂牌上市 列入上市证券表 行业，职业 物流 了不起的人 保险费 股票经纪人 saga charisma devolve hierarchy

3、resigned momentum paternalistic merger acquisition ERP(enterprise resource planning) ESA(enterprise services architecture) organic growth 一长串时间 领袖气质 下放，移交 等级制 顺从的，屈从的 势头，动力 家长作风的 合并 收购 企业资源计划 企业服务系统 内生增长Background Info企业并购企业并购 企业并购（M&A）包括兼并和收购两种方式。国际上习惯把兼并和收购合在一起使用统称为M&A，即并购。并购的效应动因并购的效应动因 （1）韦斯顿协同效

4、应 （2）市场份额效应 （3）经济成本曲线效应 （4）财务协同效应并购存在的风险并购存在的风险 （1）管理风险 （2）规模经济风险 （3）企业文化风险 （4）经营风险Parts of a companylI think that our fundamental belief is that for us growth is a a way of life and we have to grow at all times. - Mukesh Ambani, Chairman of Reliance IndustriesWhy is it important for companies to gr

5、ow?Vocabulary: Part of a companyWhy is it important for companies to grow?lGive shareholders a regular return on their investment lTo create jobs and maintain job securitylGrowth means more market share and market share establishes the company in the marketl.Subsidiary Headquarters Sales Offices War

6、ehouse R&D Division Main PlantSubsidiaryHeadquartersMain PlantWarehouseR&D Division Sales Offices Sales Offices3. What is the different between the following words and phrase?1. A sales office and a subsidiary2. A warehouse and a plant3. The headquarter and a divisionSales office Vs Subsidiary l A S

7、ales office is part of the companys main sales department, but located in another town or country. l A subsidiary operates as an independent company even though it is mainly or wholly owned by the parent company. Warehouse Vs Plantl A warehouse is a building where goods or raw materials are stored a

8、nd from which they are distributed. l A plant is a place of production either manufacturing, assembly or packing. Headquarters VS division l The headquarters are the main offices of the company where the top management and general administration work. l A division is a branch of a company responsibl

9、e for one particular business activity (eg a motor manufacturer might have an automobile division and a truck division )Vocabulary: Growth strategy4. Find a synonym in the box for each of the underlined words.5. What is the difference between following expressions?1.Laying people off and firing them

10、2.Taking over a company and merging with it3.Organic growth and ono-organic growthAnswersl People are laid off for economic reasons, ie the company doesnt have enough work for them. People are fired because their work or behavior is unsatisfactory.l Often the difference can be academic, but a take o

11、ver is what happens when a larger company buys a smaller company and a merger is when two similar sized companies join together.l Organic growth refers to natural expansion through the growth of sales; non-organic generally refers to growth by acquisition.Growth strategy l Strategies aimed at large

12、market shares even at the expense of short-term earnings. l Organic growth VS non-organic growthl Diversification (new products / new market)l Market development (existing products/ new market)l Product development (new products / existing market)l Market penetration (existing products / existing ma

13、rket)Organic growth and non-organic growth l Organic growth refers to natural expansion through the growth of salesl Non-organic growth refers to the growth by acquisitionDiversification (New Products/New Market)lhigh-risk growth strategy, largely because both the products and the market are unprove

14、n territory for the entrepreneur. lNo one can be sure about the new market. lNecessary for company featured innovation . lbe realistic about the risks you face and crystal clear about what you hope to achieve.Market Development (Existing Products/New Market)lto develop a new market for their existin

15、g products and services. lThe new market can be geographical (e.g. foreign export) or an untapped segment of a domestic market. lpossible to develop a new market for existing products by adjusting the products packaging or expanding the products distribution channels. lRequires knowledge of the new

16、marketProduct Development (New Products/Existing Market)lto roll out a new product(s) in a market with which you are already familiar. lrequires the business to develop new abilities and continuously adapt the products until they achieve marketplace success.Market Penetration (Existing Products/Exis

17、ting Markets)ldesigned to give the business a greater percentage of market share. lseeks to gain a competitive edge through pricing, marketing, or other initiatives.lcan be achieved by increasing customer usage through loyalty programs and incentives targeting your existing customer base.Organic gro

18、wthlThe growth rate that a company can achieve by increasing output and enhancing sales. lThis excludes any profits or growth acquired from takeovers, acquisitions or mergers. lSelling in new areas or through new channels lSelling to new customers or selling more to existing customers Reading :SAP c

19、ompetes with organic growth6. SAP and Oracle are the worlds leading companies in providing software solutions for business, but their business strategies are very different. Read the text about SAPs growth strategy. Choose the best sentences from the list (A-H) below to compete each gap (1-6). Do no

20、t use any letter more than once. SAP competes with “organic growth”l SAP (Systems Applications and Products in Data Processing ) provides business applications software, often known as ERP (enterprise resource planning) software. These software programs help big companies to run their accounting sys

21、tems and purchasing processes, and to manage customer relations. SAP adapts each piece of software to the needs of its customers according to the sector they work in . l SAP是目前全世界排名第一的ERP软件。它代表着最先进的管理思想、最优秀的软件设计。世界五百强中有超过80的公司使用SAP。中国的大型国营、民营企业90使用SAP。2003年9月份，SAP公司特意推出SAP Business One中文版ERP软件，专门为中国

22、中小型企业服务。具有强大功能的解决方案平台，提供全面的功能，帮助企业实现成功管理。共由十个模块组成，涵盖企业管理、财务会计、销售、采购、业务伙伴、银行业务、物料和库存管理、生产管理、成本会计、报表等。具有独一无二的特点，如智能数据导航，强大的分析工具，在线预警，开放的标准。目前在中国已经有500家企业实施了这套系统。并随着SAP Business One的推广，使用的用户正在不断的增加。 lOracle (美国甲骨文公司)built its business on marketing database software for big companies and institutions.全球

23、大型数据库软件公司，成为全球仅次于微软的全球第二大软件公司，向遍及145多个国家的用户提供数据库、工具和应用软件以及相关的咨询、培训等。 lPeoplesoft (人科公司)成立于1987年，是协同合作企业软件全球领导供应商。在全球共有107个国家超过4700家企业机构使用人科公司完全网际网络化的软体，通过与客户、伙伴及员工之间的协同合作来降低成本并提高工作产能。2004年12月被甲骨文股份有限公司收购。lSiebel Systems (希尔宝系统公司)于1993年成立，是电子商务软件的突出供应商，其客户关系管理（CRM）、企业资源管理（ERM）以及合作关系管理（PRM）应用软件用于实现这些方

24、面的自动化以及允许企业通过互联网和零售或电话中心网络等其他渠道来执行和调节相关任务。2005年以58亿美元被甲骨文股份有限公司收购。languagelHave a direct dig (para4): to make a joke or remark to annoy or criticize someone挖苦lAcquire an industry solution that is at the heart: buy the key part of an industry solutionlEcosystem of supportive technologieslBusiness in

25、the future is not business in an enterprise. Its business in an ecosystem.l未来的商业绝不是一个企业内部的事情，而是在一个相互影响的系统里进行的。Technology Ecosystemsl Successful large-scale commercial efforts usually arise from a “technology ecosystem” Biological ecosystem: “A community of plants and animals existing in an environme

26、nt that supplies them with water, air, and other elements they need for life.“ Technology ecosystem: An interdependent community of technology and service companies operating within a common framework and architecture, with different roles for many specialist playersExamples of successful technology

27、 ecosystems Personal computers: Intel processor and system definitions, Microsoft software, ODMs, OEMs, peripherals, applications and content providers, Cell phones: Global standards, semiconductors, phones, firmware, base stations, billing, marketing, applications, content Wi-Fi Cable modemsl Busin

28、ess ecosystem: An economic community supported by a foundation of interacting organizations and individualsthe organisms of the business world. This economic community produces goods and services of value to customers, who are themselves members of the ecosystem. The member organizations also includ

29、e suppliers, lead producers, competitors, and other stakeholders. Over time, they co-evolve their capabilities and roles, and tend to align themselves with the directions set by one or more central companies. Those companies holding leadership roles may change over time, but the function of ecosyste

30、m leader is valued by the community because it enables members to move toward shared visions to align their investments and to find mutually supportive roles. l SAP orchestrates an ecosystem of business persons, developers, and IT services professionals who span business strategy, business processes

31、, technology, and operations. l Within the ecosystem, customers co-innovate and partners collaborate to achieve results that test cost, time, and expertise limitations in everyday business.l While unified by shared business goals, communities are fluid enough to ensure that information is dynamic, a

32、gile, and accessible. 7 Growth strategy for SAP and OraclelOracle has chosen to expand by making acquisitions, sometimes of big companies with quite different skills. lSAP grows more organically and it makes acquisitions when they are smaller and more closely related to what they already do. lSAPs l

33、ong-term strategy is to increase sales to medium-sized companies and to develop a platform for all its applications. Grammar: Past tenses1. Study these extracts from the text about SAP on page 17. 2. You receive this internal email. Follow the instruction in it. camewas workingwasused to returnhackh

34、ad hackedreceivedopenedwaswantedsaw washad employed have helped was taking gave3. Write a short piece (100 words approx) about a turning point in your life, work or studies: a moment when you decided to pursue a different route from the one you had up to that point. Use the following questions to he

35、lp you. 1. What were you doing before that?2. What happened to change your life?3. What happened next? Writing: Writing about the pastSuggested answersl Change my attitudel Come to me as a lightl Realize the value of somethingl Be wonderstruck withl Be disillusionedl I think that is the real maturat

36、ion that everyone goes through.l Change my entire lifel Make me understand most of the things I have been wondering all my life.l In my previous conservation opinion, success is always hard and it is impossible for an ordinary person like me to achieve. 4. What happens when companies merger or acqui

37、re other companies? Look at the table below and make notes.5. In December 2004 Oracle, the worlds second largest business software applications provider, took over PeopleSoft, the third largest. Read the letter that the CEO of PeopleSoft, Dave Duffield, wrote to his employees.1. Does he think the ta

38、keover will benefit employees or not?2. Which of these adjectives best describes his feelings about the takeover? bitter / resigned / angry Reading: Merger & AcquisitionsOpportunities Threats Employees Shareholders Customers Supplies Merger and acquisitionlMergerlBroadest definition: any takeover of

39、 one company by another, when the businesses of each company are brought together as one. lNarrow definition: distinct from an acquisition: the coming together of two companies of roughly equal size, pooling their resources into a single business. Acquisition: it occurs when one company acquires fro

40、m another company either la controlling interest in the companys stocks l or a business operation and its assets. lFull and partial acquisition lFull: all the stock capital lPartial: controlling interestMergers and acquisition l Merger (合并合并)l no acquirer or the acquiredl Participate in establishing

41、 the management structurel Similar size, no domination l A share swap cash payment l Acquisition （收购（收购）l The acquirer or the acquiredl A controlling interest in the companys stocks or business operation or its assetsl Acquired by cash stock swapDistinction lRelative size of the individual companies

42、 in the business combination lOwnership of the combined businesslManagement control of the combined businessWord powerl Mergerl Acquisition l Merge with; merger between A and B;l Collaboration; consolidationl Form an alliancel Merger of equals (对等兼并对等兼并)l Acquire; the acquirer; the acquired;l An acq

43、uisition is paid in cash. l Expansion; growth; l Takeover; buyoutWhy do companies merge with or acquire other companies? What problems can arise?casesl 吉利收购沃尔沃吉利收购沃尔沃l 收购时间：2010年3月l 收购金额：18亿美元l 收购资产：沃尔沃100%股权l 现状：根据李书福勾画的蓝图，吉利将保留沃尔沃瑞典和比利时工厂；另外，利用中国劳动力成本较低的优势，沃尔沃还将在中国新建工厂，实现沃尔沃汽车的本土化生产以降低成本，同时还可以快速增加

44、沃尔沃汽车在中国国内的销量。l 一句话点评：拭目以待 上汽收购双龙上汽收购双龙l收购时间：2004年10月l收购金额：5亿美元l收购资产：双龙汽车48.9%的股权l现状：韩国的工会问题、自己的技术问题、境外资本运作和管理问题成了上汽收购双龙后运营过程中的障碍，导致双龙汽车现在半死不活，而上汽则爱理不理。l一句话点评：败笔，就当交学费了。l 上汽收购罗孚上汽收购罗孚l 收购时间：2005年l 收购金额：6700万英镑l 收购资产：罗孚25、75以及K系列汽油机和L系列柴油机等核心知识产权。l 现状：上汽在罗孚原车型的基础上研发出荣威750和荣威550，这两款车上市后取得了不菲的成绩，成功地实现了

45、上汽的“自主品牌梦”。但是除了荣威750和荣威550之外，上汽尚未推出其他车型，让人不得不怀疑是否进入了瓶颈状态。l 一句话点评：师父领进门，修行靠个人。ReasonslTo reduce costslTo expand the companylTo enter new marketslTo buy market sharelTo buy brands or patentslTo buy a distribution channellTo complement a product portfoliol.problemslA hostile takeover may lead to resent

46、mentlThe difficulty of combining different company/ national cultureslJob losses due to restructuringlThe merger may be referred to a monopolies commission Opportunities and threatslReason: synergies （协力优势）lThe effect of combining two companies is greater than the two can achieve separately lReducin

47、g the central functions: eg. One purchasing director instead of two. lFinding complementary activities: eg. One company is efficient in manufacturing, the other has good distribution networks Opportunities and threats opportunitiesthreatscustomersCompany more efficientquality / service improvedConfu

48、sion arising from the change of name, systems or managementSuppliers New opportunities may arise in other parts of the company Contracts may have to be renegotiated and some may lose outemployeesRestructuring might create new responsibilities and job opportunitiesChanges in working conditions, some

49、may lose their jobs if there is rationalization shareholdersValue of shares is likely to increase, at least in the short termThe value of their shares should increase at first but in the longer term?Ex 5lHe thinks that some will find opportunities in the newly merged company, some will leave, others

50、 will find it difficult to adapt.lHe is resigned. He repeats several times how sad he is, but says although he tried his best to find a different conclusion it was not possible. Presentation work lGroup twolSearch for the cases of mergers and acquisitions, analyze two cases, one successful and one u