PREPARING FOR THE FUTURE BUSINESS VOCABULARY IN USE (ADVANCED)

 

BUSINESS VOCABULARY IN USE (ADVANCED) 21. PREPARING FOR THE FUTURE

 

A Scenario planning Carmen Ricardo works on long-term strategy in a large oil company. B Futurology ‘I’m a kind of futurologist or futurist. Of course, futurology is not an exact science, and some refer it as gazing into a crystal ball. But there ways of predicting the future in a structured manner. There is Delphi method where a panel of experts make their forecasts about a subject independently, and the forecasts are circulated to the other members of the group. Each member them comments on the others’ observations until all the experts reach a consensus: an agreement about what is likely to happen.’ C Risk Management ‘A related area is risk management. Operating in politically unstable countries is one of the most extreme examples of where we have to manage risk. The dangers there may include nationalization of assets by the government. Elsewhere, we may be accused of working with governments which people do not approve of. We have to think about the impact of this in terms of our reputation for social responsibility. EXERCISES 21.1 Match the underlined words (1-6) to the expressions in A and B opposite that she is referring to. 1. ‘In studying the trends in the wider picture, we may find that there is increasing consumer demand for alternative fuels such as wind energy, and we have to take account of this change in consumer expectations.’ 2. ‘Of course, we take into account all the factors we can in making our forecasts, but what we do is an inexact science.’ (2 possibilities) 21.2 Look at C opposite. The questions (1-3) are from shareholders at a tobacco company’s annual general meeting. The answers (a-c) are from the company’s chief executive. Match the questions to the answers. 1 Are you prepared if the company’s executives were kidnapped when working abroad? a Yes, we are fully aware of our social responsibility in this area. 2 Do you approve of the government’s initiative on preventing children under 16 from smoking? b

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