Business reports ENGLISH COLLOCATIONS IN USE (ADVANCED)

ENGLISH COLLOCATIONS IN USE (ADVANCED)

UNIT 14

Business reports

A	Business news Charles Park and Sons have announced record pro­fits for last year despite a slight decline in demand for one of their key products, caused by increasingly ­ fierce competition1 in the sector. They say they are already well on the way to meeting their targets for the ­first quarter. Their new models will go into production2 in the spring and this is expected to boost3 their sales and profi­ts even more. The government today announced its intentions to stimulate growth in the Southwest by allocating a large part of its development budget to industrial projects in the area. Roger Middle, who chaired the committee working on this scheme, said that local people welcomed the decision, which should generate more business for local firms. They appreciate that their area has many unique selling points for businesses and their employees, and feel that development will pay dividends4 for everyone living and working in the area. Clothing firm G & L has announced plans to build a new factory in the Midlands. Their spokesperson, Mark Mulloy, said yesterday that the proposal made sound business sense. ‘It will be easier for us to maintain quality and promote the interests of our shareholders at the same time as satisfying the demands of our target market,’ he said. SIB Distribution held an emergency meeting last night to discuss the crisis caused by yesterday’s rise in fuel prices. Their MD said, ‘This hike in prices5 will seriously affect the bottom line6. It’s a considerable challenge for us as we already operate on narrow profit margins. However, we have set ourselves clear objectives and are confident we will still be able to balance the books7. We have no intention of calling in the receivers8 yet!’ 1 NOT high competition 2 start being made 3 increase 4 bring advantages 5 (journalistic) rise in prices 6 affect the net income 7 make sure the amount spent is not more than the amount earned 8 going bankrupt
B	Describing trends An important part of many business reports is the description of trends. The Cambridge Learner Corpus shows that there are a number of collocation errors which are frequently made when candidates write about business in advanced English exams. Common mistakes We say a slight decrease/increase, NOT a little decrease/increase, and a substantial decrease/ increase, NOT a strong decrease/increase. When comparing two things in terms of quantity, we say, for example, Exports were five times greater than imports, NOT Exports were five times larger than imports.

EXERCISES

14.1	Are these sentences true or false? 1 A business executive will feel worried if the company experiences a decline in demand for its products. 2 A business CEO is pleased if the company does not meet its quarterly sales targets. 3 A hike in the price of raw materials is likely to present a difficult challenge for a business that uses those materials. 4 Marketing and sales staff will promote their products’ unique selling points. 5 Business managers are likely to be happy about calling in the receivers. 6 A company is likely to feel more secure if it has narrow profit margins.
14.2	Complete each sentence using a word from the opposite page. 1 It was a sad day for the company when it finally had to call in the ________________________. 2 I’m sure you’ll agree that our new mobile phone has a number of unique selling ________________________. 3 We use a professional accountant to help us balance our ________________________. 4 The bank agreed that our plans make sound business ________________________. 5 We must ensure that the research project does not negatively affect the bottom________________________. 6 We look forward to next spring, when our exciting new line will go into ________________________. 7 All your hard work will eventually pay ________________________. 8 We are confident that our new business strategy will help boost both sales and ________________________.
14.3	Correct the collocation errors in these sentences. 1 The company is pleased to report a strong increase in profits over the last quarter. 2 The new health and safety committee is to be tabled by a retired doctor. 3 There is increasingly high competition between airline companies. 4 The company’s exports to Japan had considerable growth over the last decade. 5 The sales figures for March show a little decrease on those for February. 6 Our sales in the domestic market are certain to have a rise next year. 7 Last year sales were three times larger in Europe than in Australia. 8 We feel that this proposal does considerable business sense. 9 Although we need to reduce our costs, it’s important we attain the quality that our reputation is built on. 10 Business leaders hope new government policies will stimulus growth.
14.4	Answer these questions about the collocations in this unit. 1 When might the Managing Director of a company call an emergency meeting? 2 What kind of age group is a sports car company likely to have as its target market? 3 Why would shareholders be pleased if their company announced record profits? 4 In what situations other than business do people set themselves objectives? 5 Name three things that a business would have to allocate part of its budget to. 6 How might a company try to stimulate growth in demand for its products?
	Over to you On the website www.companieshouse.gov.uk you can find reports on several million companies. Look up a company that interests you and make a note of any interesting collocations that you find.

ANSWER KEY

14.1 1 True 2 False. A company wants to meet its targets. 3 True 4 True 5 False. A company has failed if it has to call in the receivers. 6 False. A company will feel more secure with wider profit margins. 14.2 1 receivers 2 points 3 books 4 sense 5 line 6 production 7 dividends 8 profits 14.3 1 The company is pleased to report a substantial increase in profits over the last quarter. 2 The new health and safety committee is to be chaired by a retired doctor. 3 There is increasingly fierce competition between airline companies. (Competition can also be described as intense or stiff.) 4 The company’s exports to Japan saw/experienced/showed considerable growth over the last decade. 5 The sales figures for March show a slight decrease on those for February. 6 Our sales in the domestic market are certain to see/experience/show a rise next year. 7 Last year sales were three times greater in Europe than in Australia. 8 We feel that this proposal makes considerable business sense. (Notice that although you do business, something makes business sense.) 9 Although we need to reduce our costs, it’s important we maintain the quality that our reputation is built on. 10 Business leaders hope new government policies will stimulate growth (or be a stimulus to growth). 14.4 1 The Managing Director of a company might call an emergency meeting when there is some kind of crisis affecting the company – a strike, for example, or a major increase in the cost of raw materials or fuel. 2 A sports car company is likely to have young people in their twenties as their target market.