Vietnamese-German University Business English 1 [Intermediate]

FINAL REVIEW
VOCABULARY REVIEW - UNITS 1-3

UNIT 1
• dress code: the type of clothes people are expected to wear
• minimum salary: the lowest amount of pay that someone can receive
• pay rate: a payment fixed according to a standard scale
• pay structure: a system that determines the pay an employee will receive based on
factors such as years in the company, position, managerial
responsibility, etc.
• company hierarchy: refers to staff organised on various levels.
• values: the principles and practices a business or organisation feels are
important and tries to follow.
• organizational behavior: how people in an organization work together and how this affects
the organization as a whole.
• good atmosphere: a pleasant or positive feeling that a place gives you.
• strategy: a plan for achieving an aim
• company structure: the way an organisation is structured
• image: the general opinion that most people have of an organisation or
product
• flexibility: people or plan that can be changed easily to suit any new situation
• open-plan office: an office which does not have wall dividing it into separate rooms
• diverse work: jobs that are very different from each other
• menial tasks: work which needs little skill
• promotion: the fact of getting a better paid, more responsible job
• sabbatical: a fixed period of time when someone takes an agreed break from their
job
• work-life balance: a situation in which you are able to give the right amount of time and
effort to your work and to your personal life outside work

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Vietnamese-German University Business English 1 [Intermediate]

UNIT 2 - TRAINING & DEVELOPMENT

• development: the teaching or learning of a range of skills employees can use in a
variety of positions and/or for future careers
• training: the process of teaching or being taught the skills for a particular
job or activity
• career development: the process of learning and improving your skills so that you can
do your job better and progress to better jobs
• induction programme: the process used within many businesses to welcome new
employees to the company and prepare them for their new role. It
helps in the integration of employees into the organization.
• job-related training: any training course or activity that is connected to someone’s job
• mentee: a person who is advised, trained, or counseled by a mento
• online course: a virtual learning experience organized into a course format
• Delivery method: is the way in which educational or training content is conveyed
from instructor to students
• standard: the level that is considered to be acceptable or the level that
someone or something has achieved
• emotional intelligence: the ability to keep one’s emotions under control and show
understanding for others
• practical courses: courses which teach specific skills rather than general theory
• skills set: the particular abilities a person has or has learnt
• competency: having reached a level of possessing enough skill or knowledge to
do something to a satisfactory
• rapport: friendly agreement and understanding between people
• motivation: enthusiasm for doing something
• understanding: knowledge about a subject, situation, etc. or about how something
works
• needs analysis: a careful analysis of what training is necessary for a group or
individual
• benchmarking: to use something as a standard by which other things can be
judged or measured

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Vietnamese-German University Business English 1 [Intermediate]

UNIT 3: FINANCE
• crash: when the stock market suffers a devastating drop in value
• economic depression: a more severe, long-lasting recession that extends beyond the
confines of a single country's border and into the economies of
other nations.
• recession: a downtrend in the economy that can affect production and
employment, and produce lower household income and spending
• bankruptcy: is when you are not able to pay your debts
• credit crunch: happens when borrowing money becomes difficult because banks
reduce the amount they lend and charge high interest rates.
• depression: a long period during which there is very little business activity is
the worst type of financial crisis and is known as an economic
• investment: is something you buy, such as shares, bonds or profit, to make a
long-term profit.
• loan: is an amount of money that you borrow from a bank, financial
institution, etc..
• losses: describes the situation when a company has less money than it
did before, for example because sales have gone down.
• mortgage: a legal arrangement by which you borrow money from a bank in
order to buy a house, and pay back the money over a period of
years.
• recession: is a difficult time when there is less trade or business activity in
a country than usual.
• savings: all the money that you have saved, especially in a bank or financial
institution is called savings
• stock market: the business of buying and selling stocks and shares
• go bankrupt: is to become insolvent, or without enough money to pay what you
owe.
• to boom: to grow rapidly, or be very successful as a business or
trade.
• to bail someone out: to help a person or a company that is in financial difficulty
• profitability: the amount of profit a company makes

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Vietnamese-German University Business English 1 [Intermediate]

• make your mark: have an important or permanent effect on something

• boost: improve something and make it more successful
• bottom-line: the amount of money that a business makes or loses
• make up ground: replace something that has been lost; become successful again

PRACTICE
01 Fill in the blanks with the correct word or phrase from the box below.
bottom-line boost profitability recession investment economic
depression needs analysis rapport skills set standard
career development company structure minimum salary
company hierarchy strategy

1. During an __________, companies often face financial difficulties and reduced consumer
spending.
2. To improve team performance, conducting a thorough __________ is essential to identify
training gaps.
3. Building a good __________ with clients helps create trust and long-term business
relationships.
4. A strong __________ can help employees visualize growth opportunities within the
organization.
5. The company plans to __________ its sales by launching a new product line next month.
6. Employees are often motivated by the opportunity for __________ through workshops and
training programs.
7. Understanding the __________ of an organization is crucial for smooth communication
between departments.
8. The __________ reflects the net profit or loss after all expenses have been deducted.
9. Many professionals aim to enhance their __________ to remain competitive in the job
market.
10. A robust marketing __________ can help businesses gain a competitive edge in a crowded
market.
11. The company managed to improve its __________ by reducing operational costs and
increasing sales.

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12. A global __________ is usually much more severe than a localized financial crisis.
13. Entry-level jobs often offer a __________, which meets the legal requirements for
employee compensation.
14. For successful expansion, the company allocated a large sum of money for an overseas
__________.
15. A clear understanding of the __________ ensures that employees know their roles and
responsibilities.
16. The company's new customer service __________ has set higher expectations for employee
performance.
02 Select the correct option to complete each sentence:
1. If a company is unable to pay its debts, it may:
a. Go public
b. Go bankrupt
c. Issue stocks
d. Merge with another company
2. When someone provides financial assistance to save another from a crisis, they:
a. Invest wisely
b. Bail someone out
c. Reduce costs
d. File for bankruptcy
3. The __________ is where shares of publicly traded companies are bought and sold.
a. Commodity exchange
b. Currency market
c. Stock market
d. Savings bank
4. A period of economic decline lasting two consecutive quarters is called a:
a. Depression
b. Downturn
c. Boom
d. Recession
5. If the company's expenses exceed its income, it will suffer:
a. Profits

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b. Losses
c. Break-even points
d. Dividends
6. The ability to recognize, understand, and manage emotions is known as:
a. Critical thinking
b. Self-awareness
c. Emotional intelligence
d. Interpersonal skills
7. Employees with high __________ are more likely to work hard and achieve their goals.
a. Fatigue
b. Stress levels
c. Motivation
d. Vacation time
8. A __________ is a break from work, often lasting months, to focus on personal or professional
development.
a. Resignation
b. Sabbatical
c. Holiday
d. Overtime
9. An office layout without dividing walls between desks is called:
a. Open-plan office
b. Traditional office
c. Cubicle layout
d. Virtual workspace
10. The amount of money an employee earns per hour or year is referred to as their:
a. Bonus
b. Overtime pay
c. Pay rate
d. Profit margin
11. The study of how individuals and groups behave within an organization is known as:
a. Organizational psychology
b. Management theory

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c. Business analysis
d. Organizational behavior
Cleaning desks and filing papers are examples of:
a. High-level tasks
b. Menial tasks
c. Strategic decisions
d. Creative duties
12. The company enforces a formal __________ requiring employees to wear business attire.
a. Dress code
b. Uniform code
c. Policy handbook
d. Professional standard
13. Employees receive __________ to improve their performance in specific areas related to their
role.
a. Job-related training
b. Team-building activities
c. Productivity reviews
d. Employee handbooks
14. Achieving a healthy __________ helps employees manage their responsibilities at work and in
their personal lives.
a. Stress level
b. Career ladder
c. Work-life balance
d. Job satisfaction

03 Match the words in Column A with their correct definitions in Column B.

Column A Column B
1. Savings a. The process of teaching or being taught
2. Make up ground the skills for a particular job or activity.
3. Make your mark b. Happens when borrowing money
4. Benchmarking becomes difficult because banks reduce
5. Depression the amount they lend and charge high

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6. Mortgage interest rates.

7. Credit crunch c. All the money that you have saved,
8. Diverse work especially in a bank or financial
9. Competency institution.
10. Training d. Replace something that has been lost;
11. Loan become successful again.
12. Values e. Having reached a level of possessing
enough skill or knowledge to do
something to a satisfactory standard.
f. A legal arrangement by which you borrow
money from a bank to buy a house and
pay it back over a period of years.
g. Jobs that are very different from each
other.
h. To use something as a standard by which
other things can be judged or measured.
i. A long period during which there is very
little business activity, the worst type of
financial crisis.
j. The principles and practices a business or
organization feels are important and tries
to follow.
k. Have an important or permanent effect on
something.
l. An amount of money that you borrow
from a bank, financial institution, etc.

04 Fill in the blanks with the correct word or phrase from the list below. There is one
extra word.

to boom crash practical courses delivery method induction programme

mentee promotion flexibility pay structure good atmosphere
Image development online course promotion

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The job market continues (1)________ in some industries, but sudden economic changes can
cause markets to (2)________, leaving many businesses and employees vulnerable. For new hires,
an (3)________ is essential to help them adapt quickly to their roles and feel comfortable in the
organization. Employees who pursue (4)________ or enroll in an (5)________ often improve their
skills and stay competitive in their field. The (6)________ of a training program, such as whether
it's in-person or virtual, can greatly affect learning outcomes. Employers who offer career
(7)________ opportunities and show (8)________ in scheduling are more likely to retain top talent.
A clear (9)________ ensures fairness and motivates employees to aim for higher goals, like a
potential (10)________. Additionally, fostering a (11)________ in the workplace can enhance
productivity and positively impact the company’s (12)________. Continuous professional
(13)________ is a priority for many workers, especially those who benefit from mentor-mentee
relationships, where the (14)________ gains valuable guidance and support.

READING
01 Read the text and then choose the best answer for each question.
Banking and banks are very important for the functioning of the modern world. Without banks
the way we use money would not work. Banks enable people to save money, borrow money
and to pay for things with ease and security.
Each country in the world has its own well known banks that have branches in nearly every
city so that they are convenient for people to use. People often have to visit the local branch of
the bank when they want certain services. There are also some very big multinational banks
that have branches in most countries in the world.
As well as the local branches that are in most cities, each bank will also have a head office. This
is where all central tasks are performed that let the local braches function. The people that
work in the branches will be the bank manager, the person in charge, and various tellers who
work behind the bank counter and help the customers. There will also likely be security guards
to protect the money, workers and customers.
Most customers will just need to see the tellers when they go to the bank if they are paying
money into their account as either cash or a check. However, they might need to see the bank
manager if they want to open an account or if they have become overdraw, when they have
spent more money than there was in the account. Also if they want to borrow money and get a
loan the person will need to see the bank manager who will have to approve it.

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As well as being able to use cash or checks to pay for things, banks also offer their customers
the more convenient methods of using either a debit card or credit card. These methods are
very convenient as you just need to carry a small plastic card to be able to pay for anything.
When paying with plastic you will need to either sign a receipt or enter a PIN number to
conform the purchase and that you are authorized to use the card.

1) According to the text, what do banks enable people to do?

A) Buy products
B) Save money for the future
C) Get money now that they have to pay back later
D) All of the above
2) What is the purpose of the head office of a bank?
A) To support the local branches to work properly.
B) To offer services to local customers.
C) To work with other banks.
D) To look impressive.
3) What do bank tellers do?
A) They protect the money.
B) They help the customers.
C) They arrange loans for customers.
D) They are in charge of the bank branch.
4) What happens when a bank customer spend more money than they have in their account?
A) They will need to see the security guard.
B) They will have to go to the police station.
C) They will have to have a meeting with the bank manager.
D) They will have to borrow money from the bank.
5) Which of the following methods is more convenient when paying for something than using a
check?
A) Using a plastic card
B) Using cash
C) There is not a more convenient method.
D) With an exchange of products.

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02
Flexible working
Fred works for a traditional company that expects him to start at 8.30 a.m. and leave at 5.30
p.m. or later every day. Most of his work is done on a project basis and, as a manager, he is
responsible for the quality of work that is produced and for meeting deadlines. On most days of
the week, there is often extra work to be done on a project, and Fred stays late in the office or
brings his work home. Occasionally, when he finishes all his work before 5.30 p.m., he finds
himself hanging around, chatting with colleagues and waiting for the time he can officially
leave. With two small children at school, Fred has to use up his annual leave in order to take
time off when his children are ill, when he wants to attend their sports day or any time the kids
have a half-day at school. Fred also lives an hour’s drive from his office and therefore spends
two hours a day commuting.
In the interest of increasing productivity and making better use of his time, Fred suggested the
idea of flexible working to his director. His director, however, rejected his suggestion, saying
that he saw flexible working as problematic for the company. Fred’s director isn’t alone in this
thinking. In many organisations, there is still a culture in which the employee who arrives the
earliest and leaves the latest is considered the most hard-working, and many bosses still
believe that they can’t trust their employees to work remotely. They worry that there are too
many distractions for workers at home or that team working and communication won’t be as
good if workers are physically disconnected from each other. Some employers think
management is about the close supervision of employees to direct and control not just what is
done but also exactly how it is done. However, the nature of a lot of work today involves
meeting deadlines, achieving certain objectives and hitting targets. As most people who’ve
worked in these kinds of environments know, productivity is less about how many hours you
spend in the office and more about how well you meet those goals. Even though they’re outside
the office, the remote worker who is not meeting targets is quickly noticed. Micromanaging
bosses don’t help productivity either. In fact, research shows that controlling bosses can have a
negative effect on their employees’ performance. In contrast, giving employees the freedom to
organise their working schedule to fit with their personal life means they are working when
they are best able to engage fully with their work and are therefore more efficient and
productive. Having choices in their working environment and timetable creates responsible
and motivated workers who are likely to get better results, knowing they can meet the

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demands of both their job and their personal life. Whether it is giving employees the right to
work remotely, offering job sharing or part-time working, or allowing non-fixed start and finish
times, flexible working is not just about practical working arrangements but also about a
culture and a mindset. For example, many remote workers find themselves working past their
working hours, partly because there is no commuting to mark the boundaries between work
and personal life, making it hard to switch off from work. Companies might need to consider
training both workers and management staff to help them better understand what flexible
working is, how to implement it and how to encourage a results-driven approach. Only then
can flexible working truly result in happier employees, increased productivity and better
employee retention.
Task 1 Are the sentences true or false?
1. Fred’s director doesn’t want Fred working remotely because he sees Fred making small
talk and not working when he’s in the office.
2. If Fred was allowed to work from home, he’d work less and spend more time with his
children.
3. It is easy for a manager to know if a remote worker is not working effectively.
4. Bosses who are very controlling get better results from their team.
5. Giving employees more flexible working conditions doesn’t really benefit the company.
6. People who work from home often end up working longer hours than when working in the
office.
Task 2 Complete the notes below using NO MORE THAN THREE WORDS from the
passage for each answer.

Fred's Current Work Situation

 Fred works from (1) __________ a.m. to 5.30 p.m. or later every day.
 He is responsible for meeting (2) __________ and ensuring the quality of work.
 Often stays late or (3) __________ to complete projects.
 Uses annual leave to attend school events or when his children are (4) __________.
 Commutes for (5) __________ hours daily to and from work.

Issues with Flexible Working

 Fred’s suggestion of flexible working was rejected by his (6) __________.

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 Many organisations believe that flexible working can reduce (7) __________ and team
communication.
 Some employers think (8) __________ employees closely is necessary to ensure work is
done properly.
 The culture of valuing workers based on hours spent in the office still exists.

Benefits of Flexible Working

 Employees perform better when their schedules fit with their (9) __________.
 Flexible working improves (10) __________ and motivation.
 Results-driven approaches mean remote workers failing to meet (11) __________ are
quickly noticed.
 Research shows that controlling bosses can negatively affect employees’ (12) __________.

Implementation of Flexible Working

 Flexible working includes remote working, job sharing, part-time work, or (13)
__________ start and finish times.
 Companies need to train workers and management on flexible working and how to
foster a (14) __________ approach.
 Effective flexible working can lead to happier employees, increased productivity, and
better (15) __________.

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