Model Answers By Topic
13. Business
SPEAKING
PART 1
1. What type of business do you work in or would you like to work in?
I work in the IT industry as a systems analyst. I love working in the IT sector because wages are high and there are many perks. For example, you can work remotely most of the time, and there are opportunities to find jobs around the world.
2. Would you like to run your own business in the future?
Yes, I would love to start up my own business in the future. I have always been interested in entrepreneurship, and I believe that having my own business would give me the freedom to pursue my own ideas instead of just doing what my boss tells me to do.
3. Can you think of an example of good advertising or marketing?
One example of good advertising or marketing that comes to mind is the Nike "Just Do It" campaign. It was a simple, yet powerful message that stuck in peoples’ minds.
4. How important is good customer service?
Good customer service is incredibly important for any business. If your customer service is good, you’ll have return customers, and revenues will increase.
5. Are you a loyal customer of any companies?
Yes, I am a loyal customer of a few companies, including my local coffee shop and my favourite clothing brand. The coffee shop has great coffee and friendly employees, so I go there often. As for the clothes brand, it just makes great quality clothing for a reasonable price.
6. Do you think businesses should protect the environment?
Yes, absolutely, it's not only the responsible thing to do, but it's also good for business in the long run. Consumers are becoming more environmentally conscious and are more likely to support businesses that share their values.
7. Do you think businesses should try to help the local community?
I think businesses should treat employees well, and make sure they don’t pollute the local environment. That’s the best way they can help the local community.
8. What businesses are very successful in your country?
In my country, technology and e-commerce businesses are very successful. Companies like Alibaba and Tencent have revolutionised the way people shop and communicate, and they continue to innovate and expand their businesses.
Listen to Speaking Part 1 Model Answers:
PART 2
Describe a small business you would like to start.
You should say:
what business it would be
when you want to start it
why you have not you started it yet
and explain why you want to start this business
Model Answer:
The small business that I would like to start up is a beauty salon. I’ve always been interested in beauty treatments and products, and I believe that there is demand for high-quality and affordable beauty services in my local area.
Ideally, I would like to start this business within the next few years. Right now, I’m still only in the process of researching the market, identifying potential suppliers, and developing a business plan. After finishing this work, I’ll then need to apply for a business loan from the bank, so I have the money I need to rent and furnish a new business premises and hire staff.
I want to start this business because I am passionate about beauty and I believe that I have the skills and knowledge to provide excellent services to my customers. I also see that there is a lack of good beauty salons in my area, and I believe there’s a need for a high quality service like I’ll provide.
What’s more, as a small business owner, I would be able to build my own brand and benefit from my own hard work. I think I’d really enjoy the challenge and would find it incredibly satisfying if I could make the business successful.
Listen to Speaking Part 2 Model Answers:
PART 3
1. What do you think are the benefits of starting your own business compared to working for someone else?
Well, starting your own business has a bunch of perks compared to working for someone else. First off, you get to follow your passion and create something meaningful, which is super satisfying. Plus, being your own boss means you have the potential to make more money and build your wealth. You also have the freedom to make decisions and shape your business the way you want it. And let's not forget the flexibility! Running your own business lets you have a better work-life balance and set your own schedule.
2. How do you think companies can balance their profits with ethical practices?
Finding the right balance between profits and ethics is a big challenge for companies. On the one hand, ignoring ethical practices can increase revenues, because you don’t incur the costs related to protecting your employees and the environment. But, on the other hand, even in a free market, being ethical can really help a business grow and increase profitability. Customers want to buy products from companies that they trust and feel good about, so ethical business practices are actually a way to gain new loyal customers. A business will also reduce staff turnover and attract the most talented people if it treats employees fairly and has good ethical practices.
3. How do you think businesses can stay competitive in a constantly evolving market?
In a fast-paced and ever-changing market, businesses need to have a competitive advantage. One key way to do this is through innovation. You’ve got to stay ahead by constantly coming up with new and improved products or services that people want. That means keeping an eye on the latest trends and investing in research and development. Building strong relationships with your customers is also crucial. Give them great service, personalise their experience, and listen to their feedback. At the end of the day, happy customers are loyal customers.
4. Should governments help to protect small businesses from competition from larger corporations?
That’s a tricky question. Some argue for a hands-off approach, letting the free market do its thing. But there are valid reasons for government support too. Offering financial incentives like tax breaks or subsidies can help level the playing field for small businesses. Governments can also put regulations in place to prevent unfair practices by larger corporations. And let's not forget about providing resources and training to help small businesses thrive. It's all about finding a balance that supports small businesses while still keeping the market fair.
5. In your opinion, what role does innovation play in the success of a business?
Innovation is a game-changer when it comes to business success. When you innovate, you set yourself apart from the competition and can gain an important competitive advantage. Businesses that come out with cutting edge products are often massively successful and enjoy huge demand for their products. If you think about Apple, they’ve built their success on doing just that - innovating and bringing really attractive new products like the iphone to consumers.
6. What qualities are important for a person to have in order to be successful in business?
That’s a very good question. Well, first off, you need a tonne of determination and perseverance. It's not always smooth sailing, so you need to be willing to face challenges and keep pushing forward. Adaptability is another important quality. The business world moves fast, so you have to be able to be very flexible and embrace change. And of course, you need to be smart and good at what you do - ultimately success in business depends on being able to streamline operations, increase productivity and satisfy your colleagues and customers.
Listen to Speaking Part 3 Model Answers:
WRITING
GENERAL TEST WRITING TASK 1
You recently attended a business conference in a foreign country. Write a letter to the organiser of the conference.
In your letter:
thank them for organising the event.
say what you liked about the conference
provide feedback on any improvements that could be made
Model Answer:
Dear Sir or Madam,
I am writing to express my gratitude for organising the recent entrepreneurship conference held in Oslo. The event was exceptionally well-planned and executed, and it provided a wealth of knowledge that will be of great benefit in the future to aspiring entrepreneurs like myself.
The session on productivity hacks for start-ups was particularly enlightening. Strategies to streamline operations while maximising profitability were discussed in-depth, offering practical insights that could significantly impact a new business. Additionally, the panel on consumer-focused branding and marketing strategies provided tips and advice that will undoubtedly be helpful in creating a strong brand identity.
While the conference was clearly a success, I would like to offer a suggestion for future events. A more interactive Q&A session following each presentation could further engage the audience and encourage in-depth discussions on the topics presented. This could improve the overall learning experience and give attendees a chance to clarify any doubts they have.
Once again, I’d like to express my appreciation for your efforts in arranging the event. I look forward to future conferences organised by your team.
Thank you and best regards,
Humphrey Stockhart
WRITING TASK 2
Model Answer:
In the modern world, businesses are not only seen as organisations that generate profit but also as groups with social responsibilities. This essay agrees with the statement that in addition to making profits for stakeholders, businesses should have environmental and social responsibilities.
The primary aim of a business is to generate revenues from selling products or services. If a company doesn’t make a profit, it cannot survive and so of course, it is always necessary for business owners and managers to consider the profitability of their actions. Furthermore, in a free market with intense competition, a company must carefully consider the financial implications of every decision. Only by controlling costs, and growing income can a business hope to continue doing business in the long term.
However, despite the fundamental importance of making profits, environmental and social considerations are also crucial to a business. Firstly, the actions of a company can have a large impact on the environment. For example, waste materials and gases from factories and plants can seriously damage the local ecosystem if they are not properly disposed of. For this reason, as members of the communities in which they operate, businesses should do everything they can to prevent such pollution. Moreover, companies should protect the safety of their employees and treat them in a fair and respectful manner. Not only is this a moral responsibility, but it will reduce staff turnover and attract talented employees, which ultimately will increase productivity and help the business to grow.
To conclude, businesses most certainly should think about more than simply profits. While making money is their primary objective, they are also responsible for protecting both their staff and the area in which they do business. By paying attention to both profits and social responsibilities businesses can be sustainable and continue to be successful for many years into the future.
As well as making money, businesses also have social responsibilities.
To what extent do you agree or disagree?
VOCABULARY
Topic Vocabulary:
brand (noun [c]):
Definition: A brand is a name or symbol that makes a company's products or services different from others.
Example: Nike is a well-known brand for athletic shoes and apparel.
competitive advantage (noun phrase):
Definition: An advantage a company has over another in the same market, usually due to better products or lower costs.
Example: The core objective of the charity is to provide education to underprivileged children.
consumer (noun [c]):
Definition: A consumer is someone who buys or uses things.
Example: As a consumer, I like to compare prices before making a purchase.
demand (noun [u]):
Definition: Demand is when people want and are willing to buy something.
Example: The high demand for the new smartphone caused it to sell out within hours.
entrepreneurship (noun [u]):
Definition: Entrepreneurship is starting and running a business by taking risks and being creative.
Example: Mark Zuckerberg and his success with Facebook is an example of successful entrepreneurship.
free market (noun phrase):
Definition: An economic system where companies do business without government intervention.
Example: In a free market, businesses can compete and set prices based on supply and demand.
level the playing field (idiom):
Definition: Creating fair and equal conditions for competition.
Example: New regulations ensure that small businesses can compete on a level playing field with large multinationals.
loyal customer (noun phrase):
Definition: A loyal customer is someone who keeps coming back to buy from the same company.
Example: Mary has been a loyal customer of the same coffee shop for over five years.
marketing (noun [u]):
Definition: Activities to promote a product or brand.
Example: The company launched a marketing campaign to promote their new product through social media and TV commercials.
premises (noun [pl]):
Definition: The buildings or land owned by a company or organisation.
Example: The company owns several large premises across the country.
productivity (noun [u]):
Definition: The amount of work done in a specific timeframe.
Example: By organising tasks efficiently, we can improve productivity in the office.
profitability (noun [u]):
Definition: The ability of a business to generate financial gain or profit.
Example: The company's profitability increased after launching a new product line.
revenue (noun [c]):
Definition: The income or money generated by a company or organisation from its operations.
Example: The company's revenue increased by 20% this year.
sector (noun [c]):
Definition: A sector is a specific area of the economy, like technology or healthcare.
Example: The technology sector includes companies that develop and sell software, hardware, and digital services.
service (noun [c]):
Definition: The professional work done for a customer by a company.
Example: The company provides house cleaning and maintenance services.
staff turnover (noun phrase):
Definition: The rate at which employees leave a company and are replaced.
Example: The high staff turnover at the restaurant is affecting its performance.
start up (phrasal verb):
Definition: To start a new business.
Example: Jane and her colleagues started up a company to develop a new mobile app.
streamline (verb):
Definition: Simplify or optimise a process or system to make it more efficient and effective.
Example: New software streamlined the process, saving time.
subsidy (noun [c]):
Definition: Financial assistance or support provided by the government.
Example: The government provided a subsidy to support local farmers during the drought.
supplier (noun [c]):
Definition: A supplier is someone who provides things to a company, like products or services.
Example: The bakery relies on a local farmer to be their supplier of fresh organic eggs.
