Lesson Six
Negotiation English
谈判英语
Part I
Objectives
· What you should know before negotiating
北美商务谈判须知
· Seven useful tactics in negotiation
谈判的七条战略性技巧
· Negotiation language focuses
谈判口语用法
Part II
The How-Tos
What you should know before negotiating in US
Your business card will not be refused, but you may not always receive one in return. Try not to be offended--in the U.S., the rituals involved in exchanging business cards are sometimes not observed as closely as in other cultures.
The recipient of your card will probably place it into a wallet, which a man may put in the back pocket of his pants. This gesture is done for convenience and is not meant to be a sign of disrespect, as it might be in other cultures.
In many cases, business cards are not exchanged unless you want to contact the person later.
Usually, business is conducted at an extremely fast pace.
In a meeting, the participants will proceed with business after some brief, preliminary "small talk."
Many Americans believe that their country is the most successful economic and democratic power, and assume that American ways are the "correct" ones. This attitude frequently leads to a lack of interest in or knowledge of other cultures.
Americans often know little of concepts such as "saving face" and the social niceties and formalities that are vitally important to other cultures.
The United States is a very ethnocentric culture, and so it is closed to most "outside" information. Thinking tends to be analytical, concepts are abstracted quickly, and the "universal" rule is preferred.
Regardless of the negotiator, company policy is always followed.
There are established rules for everything, and experts are relied upon at all levels.
The concept "time is money" is taken seriously in U.S. business culture, so always get to the point.
In the U.S.A., money is a key priority and an issue that will be used to win most arguments. Americans don't always realize that businesspeople from many other cultures rarely, if ever, sacrifice status, protocol, or national honour for financial gain.
In arguments, Americans will often emphasize their financial strength and/or indomitable position. Generally, they will use a majority vote unhesitatingly if they have it and will not spend much time seeking consensus. In many cases, they are willing to fire anyone jeopardizing their deal.
Americans regard negotiating as problem-solving through "give and take" based on respective strengths. They often are unaware that the other side may have only one position.
American businesspeople are opportunistic and willing to take chances. Opportunism and risk taking often result in Americans going for the biggest possible slice of the business, 100 % if possible.
U.S. salespeople sometimes bring final contracts to first meetings with prospective clients. In large firms, contracts under $10,000 can often be approved by one middle manager in a single meeting.
Be aware that the United States is the most litigious society in the world. There are lawyers who specialize in practically every industry and segment of society.
In negotiations, points are made by the accumulation of objective facts. This evidence is sometimes biased by faith in the ideologies of democracy, capitalism, and consumerism. The subjective feelings of the participants are not as much of a factor.
In general, people from the U.S. will not hesitate to answer "no."
American businesspeople can be very blunt and will not hesitate to disagree with you. This approach often causes embarrassment to business travelers who are unaccustomed to dealing with Americans.
Although they are risk-takers, American businesspeople will have a financial plan which must be followed.
Often, American businesspeople try to extract an oral agreement at the first meeting.
Americans tend to dislike periods of silence during negotiations; they are used to making up their minds quickly and decisively.
Persistence is another characteristic you will frequently encounter in American businesspeople; there is a prevailing belief that there is always a solution. Moreover, they will explore all options when negotiations are at an impasse.
Anxiety often develops over deadlines and results. The work ethic is strong, so that it appears that Americans' lives revolve around work.
Refrain from discussing personal matters during business negotiations.
Consistency is another characteristic among American businesspeople: when they agree to a deal, they rarely change their minds.
Americans tend to be future oriented.
Innovation often takes precedence over tradition.
Golf is a popular sport, especially among businesspeople. Moreover, the golf course is often a venue for business discussions and deals.
Ethnic and social bias against some minorities does exist. Nevertheless, personal equality is guaranteed by law.
Traditional sex roles are changing rapidly, but women are still striving for equality in pay and positions of authority.
This culture stresses individual initiative and achievement. Moreover, Americans can also be very competitive in both work and leisure.
In the structure of the workplace, there is an inevitable inequality in employees' roles, but personal equality is guaranteed by law.
Although the United States is probably the most individualistic of all cultures, each employee is essentially replaceable in any workplace.
Outside of the office, Americans tend to be informal and insist on staying on a "first name basis." Nevertheless, it's important to understand the office hierarchy, and a visitor should learn the rank and titles of all members of the organization.
Part III
Let’s Talk Business
Seven Great Tactics In Negotiation 七条谈判技巧
(1)
Higher Authority 挡箭牌
Identification
You are negotiating with someone who is a representative for a company, and everything he says begins with “I’d love to, but…”because he is responsible to a higher authority. All substantive changes have to be approved by his boss. He can express sympathy and a desire to offer more, but all the hard decisions can be blamed on the boss.
Note
This ploy is, in fact, the way most large corporations and sales men negotiate. While they do have more authority than they generally let on, most of the time, it is a true state of affairs. They do have to get unusual changes approved and they do have to explain their deals to their boss. Also, this technique can have positive repercussions: It can remove emotions from the negotiations, and let both partied focus on the problems at hand.
Solution
When this tactic makes you uncomfortable the solution is simple. Demand to negotiate with someone who has authority. Explain to your negotiating partner that he may not be able to relate to exactly what your needs are, and that you need to talk to someone in charge. A willingness to go up the ladder to face authority generally earns you points during the negotiation.
(2) “Take It or Leave It” 当机立断; 当抛则抛
Identification
This is simple, basic hardball. Someone gives you and offer and says that there can be no changes – that either you accept this deal, or further negotiations are pointless.
Note
A dangerous ploy. If you use this yourself, you may come up empty-handed. If you make a statement like this and the other side rejects it, and you don't walk away, you have lost your credibility. When you lose credibility, the other side can dictate terms to you without fear of reprisal, knowing that you will never walk away fro the deal.
Solution
There are two solutions that make sense. The fist is to explore the possibility that they mean something other than what they’ve said. A “take it or leave it” offer is usually made as a “best offer”, meaning that they can’t go any lower on these specific terms. Ask them whether they would listen to alternative solutions if the terms changed. Most people will. The second response is what you should always be willing to do in these cases – take them at their world. Ask yourself, “is this deal one that I can accept in its present form and be happy with?” Are you going to feel unfulfilled with this agreement? If you are , be prepared to walk away.
(3)
The Proliferating Tip 得寸进尺
Identification
You’ve got a deal basically agreed upon. The other side comes back and asks for something small, an insignificant thing that it would be silly to stop the deal over. Then they asked for another. And another. These are the tips you pay to get the deal done.
Note
The tips you pay in this situation are more annoying than substantive. But over the long term, they can really eat away at you level of gratification. Please note that this tip doesn’t mean anything large or deal-breaking thrust on you at the end of a negotiation. A tip is a small thing, something no one would balk over.
Solution
Have a tip list of your own ready. Every time they ask for one thing, offer to give it to them if they give you something on your list in return, Over time, They’ll get tired of pestering you for tips – particularly if these tips are costing them more than they are getting.
(4)
The Staller 拖延; 放长线掉大鱼
Identification
You make a request for a change in the terms of deal. Then negotiator for the other side says she has no problem with this, but she has to check with her boss. A day passes. Two days pass. You call back and the other party says there’s no problem’ it just takes time to get changes approved. Eventually, because it takes so long to get any change approved, you stop asking for anything more.
Note
Making concessions but stalling them seems arduous and onerous, but it’s a time-honored technique of negotiating. Although it doesn’t destroy goodwill, it can make you less eager to negotiate with that person again. It also involves very little conflict. If you can afford to stall a little bit, it’s a useful technique because it discourages extra request, but don’t become a perpetual staller.
Solution
Whenever you make a request the other side agrees to, make sure you set a time that the change will be approved by. Like all terms, that time is negotiable. Pointing out a missed deadline to the other party allows you to bring to light their stalling tactics. Also, you can defuse the stalling tactic by not getting frustrated and simply continuing to address problems as they arise.
(5)
The Beggar 空头许愿
Identification
A negotiation keeps turning to the subject of the other party’s problems. You hear how he is really having trouble at his company, and how badly he needs your business. He promises that the next time you negotiate, he’ll gibe you a break if you give him one now.
Note
Promises are easy. Performance is difficult. This kind of negotiating tactic takes the deal away from the professional arena. This tactic loses more often than it wins.
Solution
Tell the other side that unless they want to negotiate two deals at once, including the future one where they make major concessions, you are not interested. It may seem hard-hearted, but negotiating is a professional skill. Negotiators have to behave professionally, period.
(6)
“Or Else” 要不然。。。
Identification
When the other side says “or else,” you’re under the pressure of a threat. You know it. They know it. But what are you going to do about it?
Note
Threats only work when the person making them:
1. Doesn’t care about the relationship.
2. Can back them up.
3. Is prepared to back them up.
Solution
It is often more effective to address the other side’s tone than to focus on the substance of what they say. A simple “we can work this out without threats,” usually makes the other side state exactly what they want. If they can and will back up their threats, you might have to decide that the deal does not satisfy your needs and consider the negotiation closed a the point.
(7) The Non-Negotiators 拒绝谈判者
Identification
The other party refuses to negotiate and discuss terms with you. They submit a proposal with a price and terms and then ask you to accept or reject on the whole.
Note
A refusal to negotiate is usually a refusal to negotiate price. This is an opportunity for you. Since they are rigid on price, you can ask for concessions on other terms. Asking for clarification as to why they won’t negotiate will usually let you know where there is some room for discussion If they continue to not negotiate, you may consider choosing another company and telling they original one that had they been more willing to negotiate, they may have gotten your business.
Solution
Approach them in a positive and inquisitive way. Tell them you’d love to make a deal, but you have some questions. Don’t try to negotiate right away. They will take the time to educate you. When they commit some time and energy to your education, they suddenly have more at stake in the discussion. Then, when you have more information and some creative alternatives to approach them with, they’ll be more willing to bargain. Sometimes hw you do something is just as important as what you do.
Part IIII
Exercises and Discussions
· After reading Part Two, what are some of the business practices in US that you find reasonable and understandable? On the other hand, what is it that you find strange and ridiculous? Write your answers down on a piece of paper and compare them with your group members. Feel free to debate on different views.
· Read the following excerpts from negotiations and identity what tactic one party is trying to use on the other party.
1. You know, I’d love to make that change, but I’m going to have to run this by my boss, and you know he’s really tough. I don't think he’ll go for it.
2. This is it. Either take it, or else I’ll have to leave you as my supplier.
3. I’ll tell you what. We need to show some cash up front, so if you sign this deal, I’ll cut your ten – no fifteen – percent off the next deal when we negotiate it next year. If we don't, I’m not sure we’re going to be around to negotiate anything next year.
4. You have our offer. If you have problems with it, I suggest you go somewhere else.
5. Sure we can accept your timing recommendations. I’ll pass them on to the senior committee and they’ll make a recommendation. Those will be passed along to the vice-president in charge of the division, who will form his own committee and then pass along a recommendation to the president. I don’t see any problems, though.
6. If you don't accept our offer, I’ll ruin your name in this business. You’ll be looking for work in another country.
Follow strategies given in Part three, give your instant responses to above situations and discuss with your class on any possible future outcomes.
Part V
Supplementary Materials
Supplementary Expressions in Negotiation (谈判口语用法总结)
· Welcoming
欢迎
On behalf of …, I’m very glad to welcome you… 我代表... 很高兴欢迎您...
It's a pleasure to see you here. 很高兴在这儿见到您.
Thank you for coming all this way. 感谢您的到来.
It’s nice to be here. 很高兴来到这儿.
· Introductions 介绍
This is…He’s in charge of…/He looks after…/He’s our… 这是... 他负责... 他是我们的...
Let me introduce you to… 我想把您介绍给...
Have you met…? She’s just taken over as Head of… 您认识...? 她是... 的主管; 刚接管...
· Starting the negotiation 开始谈判
I wondered if I could start by saying… 我想我是否开始能... 说
We’re short of time, so let’s get started. 时间不多, 我们开始吧.
We’ve got a very full agenda, so perhaps we’d better get down to business. 我们的日程很紧, 所以还是切入正
吧.
· Small Talk 缓和气氛的轻松对话
Did you have a good journey?路上还顺利吧?
How was your flight?航班还顺利吧?
Is this your first visit to…?这是你头一次到...么/
Did you find it easy to get here?我们这里还好找吧?
· Objectives 主题
We’re here today to…我们今天的目的是...
The main objective/purpose of today’s meeting is…今天会议的主题/目的是...
· Agenda 日程
Let’s just run through the agenda. 让我们先来看一下日程的安排
There are three/four/five items on the agenda. 日程上有...项内容.
Let’s leave … until later.我们把...安排到以后吧.
· Inviting interruptions 询问意见
Please don’t hesitate to interrupt. 如果有问题, 请别客气, 尽管打断我.
Please feel free to ask questions. 请大家随意提问.
Let’s deal with any questions immediately. 让我们马上来处理问题吧.
We/I would like to know what you think. 我想了解你想些什麽
· Considering what they already know 考虑到他们所了解到的
You’ve all seen our brochures/proposal/offer 你们都已经看到我们的宣传册/ 建议书了...
I think you’ve all had a chance to read our… 我想你们一会儿会有时间看到我们的...
I don’t want to go over the same ground. 在这里我不想在重复同样的内容了.
· Checking for agreement/approval 核对对方是否同意
Would you/Wouldn't you agree that…? 您同意...吗?
Do you mind if… 您介意我问... 吗?
I hope you don't mind if… 我希望如果我问... 您不会介意...
If that’s all right with you? 您都同意吗?
Is that okay? 这样可以吗?
· Asking questions 提出问题
I’d be interested to know more about… 关于... 我想了解一下.
Could you tell us something about…? 您可否告诉我们...
What exactly do you mean by…? 准确的说,你的意思是
Could you be more specific…? 您是否可以更具体些?
· Supportive and Encouraging 鼓励式的语气
So, you are saying… 喔 您是说...
If I understand you correctly, you are offering/saying… 如果我没理解错, 您的意思是...
Am I right in thinking you plan to…? 您的
是... 我说的对吗?
Go ahead. 请继续.
That’s interesting. 很有意思.
Fine. 好.
Sure. 当然.
Please do. 请继续.
Of course. 当然了.
· Down toning 低调式语气
Perhaps we should consider reducing… 也许我们应共同考虑降低...
Maybe your could cut down… 也许您应该削减...
If you could just offer us… 如果您能给我们出... 的价...
That sounds a bit too risky. 这听上去对我们来说风险太大了.
I think those figures are a little optimistic. 我想这个数字对我们来说太过乐观了.
We need a little bit more time/money. 我们需要更多的一点时间/钱.
· Exerting pressure and attaching conditions 施加压力; 提出条件
If you can’t… we will have to look elsewhere.
如果你不... 我们不得不寻找其他合作伙伴.
I’m afraid we’ll have to call it a day unless… 恐怕, 我们今天只能到此为止了. 除非...
But we would want … 但我们想...
…as long as… ... 只要...
…on one condition… ... 只要...
…provided that… 除非...
· Summarizing and Closing signal 总结与结束性话语
Let’s go over the main points again. 我们再把关键事宜重申一下.
Can I just run over the main points? 我们可否再重复一遍要点?
We’ve agree the following… 我们同意以下...
Outstanding issues are… 还有待解决的问题是...
That brings us to the end of… ...可以到此结束了。
I think we have covered everything. 我想我们已经谈及所有内容了.
I think we can call it a day. 我想我们今天的谈判就到此为止吧.
I think that covers it. 我想我们已经谈及所有内容了.
Reference
· www.executiveplanet.com
· Nicholas Reid Schaffzin “Negotiate Smart, The Secrets of Successful Negotiation”, The Princeton Review
· Jeremy Comfort “Effective Negotiating”, Oxford University Press
Lesson Seven
Business Reporting
商业报表
Part I
Objectives
· Research tools and information source for earnings, performances and SEC filings
公司收入、经营状况与美国证券委员会备案的调查工具和信息资源
· Understand general theory of “double entry accounting”
理解借贷记帐法
· Understand the contents and the equation of a balance sheet
理解资产负债表的内容与方程式
· Stock quotes and what does it say about a company
股票报价浏览
Part II
The How-Tos
What tells most about a company – The Balance Sheet
· What is Double Entry Accounting?
You have to think of the business as nothing else but a collection of accounts. Some of these accounts owe the business money and some of them are owed money by the business. All of the accounts must balance. At any one time the total value of the accounts in credit must equal the total value of the accounts in debt. When the business makes any transaction at all money is moved from one account to another. If for example Pepe makes a payment of $200.00 for some flour which he purchased from Alberto's wholesalers then Alberto's account is debited by &200.00. Alberto is the receiver of money and the transaction is therefore entered on the debit side. (Remember the principle; Debit the receiver, credit the giver.)
Alberto's Account
DR
CR
Debit Side
Credit Side
Date
Details
Folio
Amount
Date
Details
Folio
Amount
Balance b/d
500.00
May 10
Purchase of flour
XYZ
200.00
Alberto is one of Pepe's creditors. He supplies Pepe with flour on a regular basis. You can see that at the beginning of the accounting period Pepe owed Alberto $500.00. After the payment was made this figure will be reduced to $300.00. Alberto has received money and his account must be debited. In order that the accounts balance another account must be credited. In this case it is the bank account.
Bank Account - Pepe's Pizza Parlor
DR
CR
Debit Side
Credit Side
Date
Details
Folio
Amount
Date
Details
Folio
Amount
Balance b/d
1,640.00
May 10
Payment for flour
XYZ
200.00
May 23
Payment for oven liner
C950
160.00
May 31
Balance c/d
2,000.00
2,000.00
2,000.00
Balance b/d
2,000.00
In this case the bank account is already Pepe's creditor by the fact that Pepe has an overdraft. Before the payment was made to Alberto, Pepe owed the bank $1,640. With a $200.00 payment to Alberto and one other payment this figure has risen to $2,000.00.
· The forever equation of “Asset + Owner’s Equity = Liability”
总资产-负债= 资产净值
The balance sheet is a very important financial statement. It gives shareholders and potential investors information about the value of the business. This comes from the net assets figure, which is one way of placing a value on a business, because it represents the value of all the assets of the business (everything it owns) net of its liabilities (everything it owes). We can also use the net assets figure as an approximate figure for the value of a business and therefore its size.
Here is an example
COMPANY NAME: ABC Company
Date: December 31, 1993
ASSETS:
Current Assets:
Cash
$
8,742
Petty Cash
$
167
Accounts Receivable
$
5,400
Inventory
$
101,800
Short-Term Investments
$
0
Prepaid Expenses
$
1,967
-
Long-Term Investments
$
0
-
Fixed Assets
Land (valued at cost)
$
185,000
Buildings:
$
143,000
1. Cost -
2. Less Acc. Depr. -
171,600
28,600
Improvements:
$
0
1. Cost-
2. Less Acc. Depr. -
_______
_______
Equipment
$
5,760
1. Cost -
2. Less Acc. Depr. -
7,200
1,440
Furniture
$
2,150
1. Cost -
2. Less Acc. Depr. -
_______
_______
Autos/Vehicles
$
16,432
1. Cost -
2. Less Acc. Depr. -
19,700
3,268
-
Other Assets
1.
$
_____
2.
$
_____
-
LIABILITIES
Current Liabilities
Accounts Payable
$
2,893
Notes Payable
$
0
Interest Payable
$
!,842
Taxes Payable
Fed. Inc. Tax
$
5,200
State Inc. Tax
$
1,025
Self-Emp. Tax
$
800
Sales Tax Accrual
$
2,130
Property Tax
$
0
Payroll Accrual
$
4,700
-
Long-Term Liabilities
Notes Payable
$
196,700
-
TOTAL LIABILITIES
$
215,290
-
NET WORTH
Proprietorship
$
_____
or Partnership
John Smith, 60% Equity
Mary Blake, 40% Equity
$
$
153,077
102,051
or Corporation
Capital Stock
$
_____
Surplus Paid In
$
_____
Retained Earnings
$
_____
-
TOTAL NET WORTH
$
255,128
-
Assets - Liabilities = Net Worth
Total Liabilities and Equity will always be equal to Total Assets
Part III
Let’s Talk Business
· A Real-Life Example
Bairnco Corporation
Dec. 31, 2001
Condensed Balance Sheets
Dec. 31, 2001 Dec 31, 2000
ASSETS
Cash
$756,000 $945,000
Accounts receivable, net
24,644,000 32,504,000
Inventories
25,619,000 29,471,000
Other current assets 7,774,000 7,383,000
Total current assets
58,793,000 70,303,000
Plant and equipment, net
42,602,000 47,341,000
Cost in excess of net assets of
purchased businesses
12,639,000 12,828,000
Other assets
4,221,000 5,297,000
Total
$118,255,000 $135,769,000
LIABILITIES AND STOCKHOLDERS' INVESTMENT
Short-term debt
$4,411,000 $5,734,000
Current maturities of long-term debt
4,000,000 3,000,000
Accounts payable 10,792,000 11,479,000
Accrued expenses
13,789,000 15,164,000
Total current liabilities
32,992,000 35,377,000
Long-term debt
25,173,000 37,456,000
Other liabilities
10,072,000 10,227,000
Stockholders' investment
50,018,000 52,709,000
Total
$118,255,000 $135,769,000
Part IIII
Exercises and Discussions
· Work on the following exercises to get familiar with a B/S.
Step 1 - Finding balance sheet information
Look at the list of accounts available and fill in the table below the ones you would expect to find in a company's balance sheet:
· Sales revenue
· Costs of goods sold
· Fixed assets
· Owner’s equity
· Gross Profit
· Liability (Bank Loan)
· Pre-Paid rent
· Operating profit
· Buildings/Equipments
Account
Right / wrong?
Now check whether you were right and discuss it with your instructor.
Step 2 - Where do the variables go on the balance sheet?
We now need to establish which part of the balance sheet the variables would appear in. Are they a part of the assets in the top half, or are they one of the sources of owner’s equity? Put three sample balances in each of the columns below:
Asset
Liability
Owners Equity
Once again, check your answers with the instructor.
Step 3 - The whole balance sheet - can you get it to balance?
The final stage is to try to put together a simple balance sheet. So
Balance sheets for MYSELF
VARIABLE
DESCRIPTIONS
MY CURRENT SELF
ME IN YEAR 2015
Fixed/Current Assets(what do u own?)
less Current
Liabilities & Long-
term Liabilities (what do u owe?)
Your Equity (personal wealth)
Some Hint:
Fixed assets - do you have a car? a hi-fi? a motor-bike? CDs?
Current assets - cash in the bank? savings? any friends owe you money (debtors)?
Current liabilities - do you owe anyone money? do you have an overdraft?
Long-term liabilities - do you have any long-term loans (over a year)?
· Try to answer the following questions and compare answers with your group member.
Why are fixed assets important to a business?
_____________________________________________________________
What problems might a business face if it was short of current assets?
______________________________________________________________
For example, if you go out after reading this and buy a car for 2002 and you pay for half from your savings and half by taking out a bank loan, what changes will you have made to your personal balance sheet?
______________________________________________________________
Lesson Eight
Business News Reading
商业报刊阅读
Part I
Objectives
· Features and styles of writing in Western business journalism
西方商业新闻写作特点
· Idiomatic usages and set phrases often used to describe and predicting economic development
描述经济发展及预测发展趋势的习惯表达方式
· What is it in an earning report?
分析盈利
Part II
The How-Tos
Features of Western Business News Writing (西方商业新闻写作特点)
One of the most important features of Western business news writing is the usage of simple and lively English. Since of most these writings cover not stories but trends of the market or development of policies, it is essential to make the writing right to the point and accessible to reader of various education levels. Therefore, conciseness and clarity are the keys (语言简练通俗):
· “ The company expects to incur a loss, excluding special items, of between (11) cents and (14) cents per share in the first quarter.”
除特殊项目,公司第一季度预计会出现每股11至14分的亏损。
· “Capital Spending by industry just pokes along. Ditto residential building.”
工业资本开支缓慢增加,住房建筑亦如此。
· The collapse of copper price has come just as demand for it from the industrialized world has dropped 8% on last year and as production, after two years of high prices, is starting to increase.
铜价的猛跌正好是在工业国家的对铜的需求比去年下降8%和经过两年的高价后铜生产量正开始上升的时候发生的。
Much information has been covered, yet using only one sentence.
A long and boring day at work tires your eyes and mind. Wouldn’t it be even worse if you have to read on to some drab writings in news? So don't be surprised to see such lively expressions (用词生动形象):
· “Italy is one country where it is really good-bye to the boom, at least until the chronic weakness in the balance of payments is cured, and the 17%inflation is reduced.”
意大利是一个真正与经济繁荣告别了的国家,至少在国际收支方面的长期困境得以改善, 以及每年17%的通货膨胀有所一直之前,情况难以好转。
· “When it came to a perennial Clinton bugaboo-personnel-things began on a promising note. Prodded by the White House, Seven Cabinet Chiefs announced their departures soon after Nov.5. The shakeup gave Clinton a chance to revitalize his weary team. So have any of those jobs been filled? Nope.”
克林顿刚刚看到即将摆脱困扰他多时的私人琐事的希望。在白宫的催促下,7位内阁要员宣布将于11月5日后卸任。此次内阁改组给克林顿以机会使其疲惫的内阁恢复活力。内阁成员的人选是否已经确定了呢?没有。
The usage of ellipsises makes eye-catching titles and subtitles: (巧用省略)
· “Who is afraid of global markets? Not U.S. investors.”
· “Time for a reality check in Asia. Time for a fire brigade.”
· “Hubris? Perhaps. But Dobson isn’t the only putting up his chest these days.”
傲慢吗?也许。但DOBSON可不是近来唯一一位趾高气昂的人。
The frequent use of quotes, parentheses and hyperbaton: (引语,插入语及倒装)
· “I am afraid the US banks are going to have to get used to seeing Doutsche Morgan Grenfell more often, “ says Chief Executive Michael W.R. Dobson.
总裁Dobson说:“恐怕美国银行将不得不习惯于经常与Doutsche Morgan Grenfell打交道了。”
· “Any international company that’s not planning to do something in China is probably missing a bet”, says J. Tracy O’ Rourke, CEO of Varian Associates Inc., a California manufacturer of medical equipment. “it’s like the frontier of days past.”
“任何一家不打算在中国作些事情的国际公司都可能失去一次机会”,。。。“她犹如往日的西部处女地。”
Part III
Let’s Talk Business
Following is an earning forecast of Motorola’s 1st quarter, 2002 and some analysis of what such new press really means to investors.
Motorola's First Quarter and Full Year Earnings Outlook
SCHAUMBURG, Ill., Jan. 23 /PRNewswire-FirstCall/ -- Motorola, Inc. (NYSE: MOT) said today it expects sales in the first quarter of 2002 to be between $6.0 billion and $6.2 billion. The company expects to incur a loss, excluding special items, of between (11) cents and (14) cents per share in the first quarter.
The company continues to expect sales from ongoing operations for the full-year 2002 to decline between 5 percent and 10 percent compared to 2001. The company confirmed that it continues to expect to return to profitability in the third quarter of 2002 and be profitable for the full year 2002.
Motorola also said that it believes the current 2002 consensus earnings expectation of 4 cents per share for the full year, excluding special items, is not only achievable, but can be exceeded. The company believes that, if annual sales are near the high end of the company's guidance range and the wireless handset and semiconductor industries meet growth expectations, it is possible for the company to earn 15 cents per share in 2002, excluding special items, as the company previously discussed. The gross margin improvements anticipated in these two businesses if their industries meet growth expectations, coupled with the expected savings from cost reductions, would make this level of earnings possible.
Business Risks:
Statements about the company's sales and earnings outlook are forward-looking statements based on current expectations and involve risks and uncertainties. Motorola wishes to caution the reader that the factors below and those on pages F-29 through F-33 of the appendix to Motorola's Proxy Statement for the 2001 annual meeting of stockholders and in its other SEC filings could cause Motorola's actual results to differ materially from those stated in the forward-looking statements. These factors include Motorola wishes to caution the reader that the factors below and those on pages F-29 through F-33 of the appendix to Motorola's Proxy Statement for the 2001 annual meeting of stockholders and in its other SEC filings could cause Motorola's actual results to differ materially from those stated in the forward-looking statements. These factors include: (i) the company's ability to effectively carry out the planned cost-reduction actions; (ii) the potential for unanticipated results from cost-reduction activities on productivity; (iii) the impact of the slowdown in the overall economy and the uncertainty of current economic conditions; (iv) the impact of ongoing tax relief, interest rate reduction and liquidity infusion efforts to stimulate the economy; (v) the decline in the telecommunications, semiconductor and broadband industries; (vi) the company's continuing ability to access the capital markets on favorable terms; (vii) demand for the company's products, including products related to new technologies; (viii) the company's ability to continue to increase profitability and market share in its wireless handset business; (ix) the company's success in the emerging 3G market; (x) the demand for vendor financing and the company's ability to provide that financing in order to remain competitive; (xi) unexpected liabilities or expenses, including unfavorable outcomes to any currently pending or future litigation, including any relating to the Iridium project; (xii) the levels at which design wins become actual orders and sales; (xiii) the success of alliances and agreements with other companies to develop new products and services; (xiv) difficulties in integrating the operations of newly-acquired businesses and achieving strategic objectives, cost savings and other benefits; (xv) volatility in the market value of securities held by Motorola; (xvi) the impact of foreign currency fluctuations; and (xvii) the impact of changes in governmental policies, laws or regulations.
About Motorola:
Motorola, Inc. (NYSE: MOT) is a global leader in providing integrated communications solutions and embedded electronic solutions. Sales in 2001 were $30 billion.
SOURCE Motorola, Inc.
Part IIII Exercises and Discussions
Read the following earning report and have a discussion with your group members using instructions below.
American Pacific Bank Announces 4th Quarter Income Up 149%
PORTLAND, Ore., Jan 23, 2002 (BUSINESS WIRE) -- David Chen, president and chief executive officer of American Pacific Bank (Nasdaq:AMPB), announced today that net income for the fourth quarter ended Dec. 31, 2001, rose 149.13% as compared to same quarter of 2000.
Net earnings after taxes for the fourth quarter of 2001 came to $221,516, or $0.15 per share, as compared to $88,916, or $0.07 per share, reported for the same period last year.
Net earnings after taxes for year-end 2001 came to $537,393, or $0.36 per share, an increase of 19.25% as compared to $450,635, or $0.35 per share, reported for the same period last year.
Net interest income for the fourth quarter ended Dec. 31, 2001, was $1,100,186 compared to $927,975 for the same quarter last year, an increase of 18.56%. Chen stated, "The Bank had an excellent quarter, facilitated by the decrease in interest expense and the continued strong demand in both construction lending and commercial real estate lending."
The Bank reduced its assets size from $78,627,079 at the end of fiscal 2000 to $75,748,871 at the end of 2001, a decrease of 3.66%. This decrease was the result of management's decision to not renew higher cost jumbo deposits at maturity. Total deposits decreased $5,774,502 or 9.12% during fiscal 2001 as compared to fiscal 2000.
Total loans decreased minimally from $71,893,189 in 2000 to $70,533,273 in 2001. This occurred because the Bank sold $12 million in commercial real estate in the second quarter of 2001 to ease the concentration in commercial real estate and increase overall liquidity.
The Bank continues to be well-capitalized with the leverage ratio at 8.93% and a risk-based capital ratio at 10.42%. The book value of the Bank's stock as of Dec. 31, 2001, was $4.59 as compared $4.19 per share at the end of fiscal 2000.
Chen added, "2002 will be an exciting year for our Bank. During fiscal 2001 we opened a branch in the Wood Village Wal-Mart store, and in late 2000 the Bank launched American Online Bank (www.apbank.com). We plan to build on these successes in the current year."
American Pacific Bank was formed in 1979 as an Oregon state chartered institution providing banking services to the rural communities of Aumsville and Mill City. Since that time, the Bank has grown into a metropolitan institution based in downtown Portland. Services to people living throughout Oregon and Southwest Washington include construction and commercial lending, permanent mortgages, business and consumer lending, credit card services and deposit services. The Bank's nation-wide secured credit card program has been rated by Cardtrak as one of the best credit card programs in the nation.
American Pacific Bank
Financial Results As of December 31, 2001, and December 31, 2000
Quarter Quarter
Ended Ended
12/31/01 12/31/00
$ $
Unaudited Audited
-----------------------
Total Assets 75,748,871 78,627,079
Average Assets 78,576,397 65,879,469
Total Deposits 57,576,586 63,351,088
Total Loans (after Loan
Loss Reserve) 70,533,273 71,893,189
Total Equity 6,782,287 6,154,096
Average Equity 6,472,973 5,721,281
Average No of shares 1,474,022 1,289,571
YearEnd Shares
Outstanding 1,476,960 1,467,704
-----------------------
Quarter Quarter YTD YTD
Ended Ended Ended Ended
12/31/01 12/31/00 12/31/01 12/31/00
$ $ $ $
Unaudited Audited
-----------------------------------------------
Interest Income 1,728,675 1,904,095 7,377,498 6,708,414
Interest Expense (628,489) (976,120) (3,684,875) (3,119,466)
-----------------------------------------------
Net Interest Income 1,100,186 927,975 3,692,623 3,588,948
Provision for Loan
Loss Reserve (105,163) (95,695) (173,268) (362,165)
Other Income 120,195 119,261 600,429 445,133
Other Expenses (758,553) (761,320) (3,246,785) (2,945,083)
-----------------------------------------------
Net Income Before Taxes 356,665 190,221 872,999 726,833
Income Tax Expense (135,151) (101,305) (335,606) (276,198)
-----------------------------------------------
Net Income 221,514 88,916 537,393 450,635
-----------------------------------------------
Per Share Data:
Earnings Per Share
before taxes (average
shares outstanding) $0.24 $0.15 $0.59 $0.56
Earnings Per Share
after taxes (average
shares outstanding) $0.15 $0.07 $0.36 $0.35
Book Value (based on
ending shares
outstanding) $4.59 $4.19 $4.59 $4.19
-----------------------------------------------
CONTACT: American Pacific Bank David T. Chen, 503/221-5801
· Comparing to the 2001 annual earning growth of American Pacific Bank, is the 4th quarter growth so significant to the bank’s overall financial situation? Do you consider the title of 149% growth misleading or just a strategic propaganda?
· According to the business risk analysis, what are some of the factor that will result a decline/increase on Motorola’s earning in 2002?
· Imagine yourself being the CEO of Motorola. Using the following chart, draw a curve to show the expecting trend of your company’s earning in 2002. Explain to your group members on your thoughts.
Part V Supplementary Materials
Here are some common idiomatic expressions in business news writing that you may find helpful.
商业新闻写作中惯用的表达方式
To describe an upward trend 描述增长趋势
an increase / to increase
a gain / to gain
a growth / to grow
a leap / to leap
a surge / to surge
a soar/ to soar
a rise / to rise
a hike / to hike
To describe a downward trend 描述下降趋势
a dip / to dip to a decline / to decline
a drop / to drop a decrease/ to decrease
a collapse / to collapse a cut / to cut
a slip / to slip off a slump / to slump
To describe a steadiness 描述平稳走势
· After falling sharply in the previous two years, the jobless rate has hardly moved since April. August joblessness stood at 8.2% and the annual pace of weekly earnings slowed to 3.25%,…
· In Sydney, stocks ended little changed in subdued trading as investors awaited direction from Wall Street after its sell-off last week, as well as new Australian economic data to be released Tuesday.
· Measured against the currencies of the major industrial countries, the dollar is likely to hover about where it is for several calendar quarters at least.
To describe the extend of change 描述变化幅度
Big change:
markedly, greatly, considerably
Small change:
fractionally, marginally, slightly
Fast change:
quickly, suddenly, rapidly
Slow change:
slowly, gradually, gently
Part V
Supplementary Materials
· What can you get from a stock quote?
Bairnco Corp (BZ)
Closing values from 1/25/2002
Last
5.23
Change (%)
-0.26 (-4.74%)
Prev Close
5.49
Volume
15,900
Day's Range
5.00 - 5.49
Bid
5.25
Ask
5.28
Open
5.49
Avg Volume
4,400
52 Week Range
5.00 - 8.60
Earn/Share
0.16
P/E
32.69
Market Cap
38.3 M
Div Yield
3.82
· Some useful links for financial reporting and SEC filings
财政报表与美国证券委员会备案的一些网站链接
www.earnings.com
Registered users have access to multimedia research, analyst recommendations, earnings calls, as well as a fully personalized earnings calendar where they can track earnings dates, conference calls, upgrades/downgrades, stock splits, and major economic indicators.
http://www.edgar-online.com/
Provides SEC electronic corporate filings and related business intelligence tools.
www.hoover.com
Searchable financial filings and achieves of company press releases and continuously updated intelligence on public and private companies worldwide.
http://www.sec.gov/edgar.shtml
The SEC requires all public companies (except foreign companies and companies with less than $10 million in assets and 500 shareholders) to file registration statements, periodic reports, and other forms electronically through EDGAR. Anyone can access and download this information for free. Here you'll find links to a complete list of filings available through EDGAR and instructions for searching the EDGAR database.
Lesson Nine
Interview Englsih
面试口语
Part I
Objectives
· The ABCs of Job Interviews In North America
北美工作面试须知
· Common questions guidelines to proper answers
常见问题及应对技巧
· “Tell me something about your self” – The tone-setting question
面试中的自我介绍
· Nonverbal Pitfalls to Watch For
小心坠入面试中肢体语言的陷阱
Part II
The How-Tos
The ABCs of Job Interviews In North America
The one-on-one format is the most familiar and common format in job interviewing. It's about two people sitting down to have a conversation. In this case, the conversation has a particular purpose: To determine whether there is a natural fit between the interviewer, the applicant and the job available. Both parties will leave this conversation with some kind of a judgment. The interviewer will know whether you can fulfill the responsibilities of the position, and you will know whether or not this is the right position, and company, for you to utilize and expand upon your talents.
The interview begins the second you and the interviewer initially meet -- this is the crucial nonverbal judgment. The interviewer is sizing you up: Are you dressed appropriately? Are you well-groomed and pleasant? Next, is the handshake -- do you offer a limp-fish handshake or is it firm and comfortable? A lot of close scrutiny takes place in those initial moments, and the interviewer can get a good idea as to how well the interview will or will not go based on his or her first impressions of you. After a bit of chitchat or warm-up, the questions begin.
The conversation will usually begin with the same request: "Tell me about yourself." The information you reveal as an answer to this question and throughout the interview allows the interviewer to get a clear picture of you, and certain pictures or patterns will begin to emerge. Each time a new subject is mentioned, the interviewer may want to dig a little further, and the picture becomes more focused.
Behavioral questions such as, "Tell me about your experience with...," give the interviewer clues about your past experiences that can be applied to solving the problems of the job in question. You must be prepared to talk about your achievements and past behaviors and have examples of the experiences you mention. For example, if you say, "I am very detail-oriented," or "I am an analytical problem-solver," there must be examples to back the claims. Show the interviewer that you are detail-oriented by providing him with an example of when your attention to detail positively affected your work. You should create a list of your accomplishments and experiences that validate these claims prior to interviewing.
If you don't immediately offer this information, the interviewer can probe further. As an example, you might say, "I have excellent written communication skills." The interviewer can now follow up on this subject by asking, "What type of writing have you done?" Or, "Tell me about a project you have worked on involving written communication skills." If you aren't able to come up with good examples, or success stories, there might be a credibility problem. Saying you can do something and actually giving an example of when you have done it are two different things.
Interviewers are attempting to get a picture of your abilities to perform in the position that is available. They are also looking to see how you would fit in with the corporate culture. Sometimes there will be a succession of one-on-one interviews within the same company. The process may begin with the human resources department, then move on to an interview with a prospective boss, or hiring manager. It may then continue down the line to other members of a department, and can sometimes include a CEO.
In each one-on-one conversation, you must be able to present good examples and tell about past successes. When this is done, you can leave the interview knowing that you have communicated a picture that is positive and accurate, no matter how many conversations it takes.
Part III
Let’s Talk Business
Common Job Interview Questions
By rehearsing interview questions, you'll become more familiar with your own qualifications and will be well prepared to demonstrate how you can benefit an employer. Some examples:
· "Tell me about yourself."
Make a short, organized statement of your education and professional achievements and professional goals. Then, briefly describe your qualifications for the job and the contributions you could make to the organization.
· "Why do you want to work here?" or "What about our company interests you?"
Few questions are more important than these, so it is important to answer them clearly and with enthusiasm. Show the interviewer your interest in the company. Share what you learned about the job, the company and the industry through your own research. Talk about how your professional skills will benefit the company. Unless you work in sales, your answer should never be simply: "money." The interviewer will wonder if you really care about the job.
· "Why did you leave your last job?"
The interviewer may want to know if you had any problems on your last job. If you did not have any problems, simply give a reason, such as: relocated away from job; company went out of business; laid off; temporary job; no possibility of advancement; wanted a job better suited to your skills.
If you did have problems, be honest. Show that you can accept responsibility and learn from your mistakes. You should explain any problems you had (or still have) with an employer, but don't describe that employer in negative terms. Demonstrate that it was a learning experience that will not affect your future work.
· "What are your best skills?"
If you have sufficiently researched the organization, you should be able to imagine what skills the company values. List them, then give examples where you have demonstrated these skills.
· "What is your major weakness?"
Be positive; turn a weakness into a strength. For example, you might say: "I often worry too much over my work. Sometimes I work late to make sure the job is done well."
· "Do you prefer to work by yourself or with others?"
The ideal answer is one of flexibility. However, be honest. Give examples describing how you have worked in both situations.
· "What are your career goals?" or "What are your future plans?"
The interviewer wants to know if your plans and the company's goals are compatible. Let him know that you are ambitious enough to plan ahead. Talk about your desire to learn more and improve your performance, and be specific as possible about how you will meet the goals you have set for yourself.
· "What are your hobbies?" and "Do you play any sports?"
The interviewer may be looking for evidence of your job skills outside of your professional experience. For example, hobbies such as chess or bridge demonstrate analytical skills. Reading, music, and painting are creative hobbies. Individual sports show determination and stamina, while group sport activities may indicate you are comfortable working as part of a team.
Also, the interviewer might simply be curious as to whether you have a life outside of work. Employees who have creative or athletic outlets for their stress are often healthier, happier and more productive.
· "What salary are you expecting?"
You probably don't want to answer this one directly. Instead, deflect the question back to the interviewer by saying something like: "I don't know. What are you planning on paying the best candidate?" Let the employer make the first offer.
However, it is still important to know what the current salary range is for the profession. Find salary surveys at the library or on the Internet, and check the classifieds to see what comparable jobs in your area are paying. This information can help you negotiate compensation once the employer makes an offer.
· "What have I forgotten to ask?"
Use this as a chance to summarize your good characteristics and attributes and how they may be used to benefit the organization. Convince the interviewer that you understand the job requirements and that you can succeed.
Here are some other job interview questions you might want to rehearse.
Your Qualifications
· What can you do for us that someone else can't do?
· What qualifications do you have that relate to the position?
· What new skills or capabilities have you developed recently?
· Give me an example from a previous job where you've shown initiative.
· What have been your greatest accomplishments recently?
· What is important to you in a job?
· What motivates you in your work?
· What have you been doing since your last job?
· What qualities do you find important in a coworker?
Your Career Goals
· What would you like to being doing five years from now?
· How will you judge yourself successful? How will you achieve success?
· What type of position are you interested in?
· How will this job fit in your career plans?
· What do you expect from this job?
· Do you have a location preference?
· Can you travel?
· What hours can you work?
· When could you start?
Your Work Experience
· What have you learned from your past jobs?
· What were your biggest responsibilities?
· What specific skills acquired or used in previous jobs relate to this position?
· How does your previous experience relate to this position?
· What did you like most/least about your last job?
· Whom may we contact for references?
Your Education
· How do you think your education has prepared you for this position?
· What were your favorite classes/activities at school?
· Why did you choose your major?
· Do you plan to continue your education?
Part IIII Exercises and Discussions
· Answer the 10 most-asked questions mentioned in Part two by using guidelines provided in the article.
· Tell the class an interview story of yours. Before you reveal the final result of this job-hunting experience, let other students criticize on your performance and give you a virtual offer/rejection. Compare it with the actual result.
· Think of your best/worse interview experiences and share them with your class and instructor. Why do you think that you did a great/horrible job? If you can go through it all over again, what improvements can be made?
Part V Supplementary Notes
· Tell Me About Yourself
It's one of the most frequently asked questions in an interview: Tell me about yourself. Your response to this request will set the tone for the rest of the interview. For some, this is the most challenging question to answer, as they wonder what the interviewer really wants to know and what information they should include.
Eleanor dreaded this question. When it was the first one asked at her interview, she fumbled her way through a vague answer, not focusing on what she could bring to the job.
"I'm happily married and originally from Denver," she began. "My husband was transferred here three months ago, and I've been getting us settled in our new home. I'm now ready to go back to work. I've worked in a variety of jobs, usually customer service-related. I'm looking for a company that offers growth opportunities."
The interview went downhill after that. She had started with personal information and gave the interviewer reason to doubt whether she was an employee who would stay for very long.
· She's married, and when her husband gets transferred that means she has to leave; she did it once and can do it again.
· She has some work experience with customers but didn't emphasize what she did.
· She is looking to grow. What about the job she is applying for? Will she stay content for long?
The secret to successfully responding to this free-form request is to focus, script and practice. You cannot afford to wing this answer, as it will affect the rest of the interview. Begin to think about what you want the interviewer to know about you.
Focus
List five strengths you have that are pertinent to this job (experiences, traits, skills, etc.). What do you want the interviewer to know about you when you leave?
Eleanor is strong in communications and connecting with people. She has a strong background and proven success with customer relationships. Her real strength is her follow-through. She prides herself on her reputation for meeting deadlines.
Scripting
Prepare a script that includes the information you want to convey. Begin by talking about past experiences and proven success:
"I have been in the customer service industry for the past five years. My most recent experience has been handling incoming calls in the high tech industry. One reason I particularly enjoy this business, and the challenges that go along with it, is the opportunity to connect with people. In my last job, I formed some significant customer relationships resulting in a 30 percent increase in sales in a matter of months."
Next, mention your strengths and abilities:
"My real strength is my attention to detail. I pride myself on my reputation for following through and meeting deadlines. When I commit to doing something, I make sure it gets done, and on time."
Conclude with a statement about your current situation:
"What I am looking for now is a company that values customer relations, where I can join a strong team and have a positive impact on customer retention and sales."
Practice
Practice with your script until you feel confident about what you want to emphasize in your statement. Your script should help you stay on track, but you shouldn't memorize it -- you don't want to sound stiff and rehearsed. It should sound natural and conversational.
Even if you are not asked this type of question to begin the interview, this preparation will help you focus on what you have to offer. You will also find that you can use the information in this exercise to assist you in answering other questions. The more you can talk about your product -- you -- the better chance you will have at selling it.
· Nonverbal Communications
It begins even before you say your first word in an interview. By the time the interviewer walks toward you, an opinion is already being formed. There you sit waiting to spew out your answers to questions you've prepared for, while you are already being judged by your appearance, posture, smile or nervous look.
A study done at UCLA a few years ago revealed that the impact of a performance was based 7 percent on the words used, 38 percent on voice quality and 55 percent on nonverbal communication.
Look back at speakers or teachers you've listened to. Which ones stand out as memorable? The ones who were more animated and entertaining or the ones who just gave out information? This is not to say you have to entertain the interviewer (no jokes, please), but it does mean the conversation should be more interactive. If you say you are excited about the prospect of working for this company but don't show any enthusiasm, your message will probably fall flat. So smile, gesture once in a while, show some energy and make the experience more pleasurable for both sides.
Nonverbal Pitfalls to Watch For:
1. The handshake: It's your first encounter with the interviewer. He holds out his hand and receives a limp, damp hand in return -- not a very good beginning. Your handshake should be firm -- not bone-crushing -- and your hand should be dry and warm. Try running cold water on your hands when you first arrive at the interview site. Run warm water if your hands tend to be cold. The insides of your wrists are especially sensitive to temperature control.
2. Your posture: Stand and sit erect. We're not talking "ramrod" posture, but show some energy and enthusiasm. A slouching posture looks tired and uncaring. Check yourself out in a mirror or on videotape.
3. Eye contact: Look the interviewer in the eye. You don't want to stare, as this shows aggression. Occasionally, and nonchalantly, glance at the interviewer's hand as he is speaking. By constantly looking around the room while you are talking, you convey a lack of confidence or discomfort with what is being discussed.
4. Your hands: Gesturing or talking with your hands is very natural. Getting carried away with hand gestures can be distracting. Also, avoid touching your mouth while talking. Watch yourself in a mirror while talking on the phone. Chances are you are probably using some of the same gestures in an interview.
5. Don't fidget: There is nothing worse than someone playing with his or her hair, clicking a pen top, tapping a foot or unconsciously touching parts of the body.
Preparing what you have to say is important, but practicing how you will say it is imperative. The nonverbal message can speak louder than the verbal message you are sending.
附录:《初级商务英语口语》目录
Lesson One
自我介绍
(Self-Introduction)
Lesson Two
更多了解
(Effective Question and Answer Techniques)
Lesson Three
电话技巧
(Western telephone etiquette)
Lesson Four
制定日程
(Setting agenda for meetings, travel and events)
Lesson Five
安排事物
(Inviting, accepting, declining, offering, refusing)
Lesson Six
商业用餐
(Translations on foods, showing opinions)
Lesson Seven
工作之余
(Choosing and developing topics of conversation)
Lesson Eight
工作面试
(Job interview)
Lesson Nine
办公自动化
(Office Automation)
Lesson Ten
商业会议
(At the Meeting)
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