Vocabulary

significant
/səgˈnɪfɪkənt/
(adj). đáng kể, to tát
There are no significant differences between the two groups of students.

mergers
/ˈmɜrʤərz/
(noun). cuộc sát nhập công ty
There was a a merger between Youtube and Google

takeovers
/ˈteɪˌkoʊvərz/
(noun). chiếm quyền kiểm soát
The company has agreed an $11.5bn takeover.

corporation
/ˌkɔrpəˈreɪʃən/
(noun). công ty, tập đoàn, doanh nghiệp
VinGroup is a corporation that works in a lot of fields

rapidly
/ˈræpədli/
(adv). một cách nhanh chóng
VinMart is expanding rapidly

external
/ɪkˈstɜrnəl/
(adj). thuộc về bên ngoài
I have an external hard drive

force
/fɔrs/
(verb). bắt buộc
The mother forces her kid to study.

manufacturers
/ˌmænjəˈfækʧərərz/
(noun). nhà sản xuất
Germany is a major manufacturer of cars.

regulation
/ˌrɛgjəˈleɪʃən/
(noun). quy tắc, điều luật
The government builds some new regulations

specific
/spəˈsɪfɪk/
(adj). riêng biệt, cụ thể
The money should be used for specific purposes.

retain
/rɪˈteɪn/
(verb). giữ lại
There are some ways for the company to retain good employees

flexible
/ˈflɛksəbəl/
(adj). linh hoạt
My schedule is flexible - I can arrange to meet you on any day next week.

leadership
/ˈlidərˌʃɪp/
(noun). sự lãnh đạo
He has leadership skills.

conflict
/ˈkɑnflɪkt/
(noun). mâu thuẫn
There was a lot of conflict in the team

consultative
/kənˈsʌltətɪv/
(adj). thuộc cố vấn
She works for the firm in a consultative capacity.

collaborative
/kəˈlæbəˌreɪtɪv/
(adj). có tính cộng tác
The presentation was a collaborative effort by all the members

senior management
/ˈsinjər ˈmænəʤmənt/
(noun). quản lý cấp cao
Bill Gates is senior manager of Microsoft company

trend
/trɛnd/
 (noun). xu hướng
Nowadays, a crop top is a trend in fashion

self-employed
/sɛlf-ɛmˈplɔɪd/
(adj). tự làm chủ, làm việc cho chính bản thân mình
I decided to become self-employed.

intellectual property
/ˌɪntəˈlɛkʧuəl ˈprɑpərti/
(noun). tài sản sở hữu trí tuệ
Music is a kind of intellectual property

Listening
The Future of Management
Business markets
 greater 31 ................... among companies
 increase in power of large 32 .................. companies
 rising 33 .................... in certain countries
External influences on businesses
 more discussion with 34 ................. before making business decisions
 environmental concerns which may lead to more 35 .................................
Business structures
 more teams will be formed to work on a particular 36 .........................
 businesses may need to offer hours that are 37 .........................., or the chance to work
remotely
Management styles
 increasing need for managers to provide good 38 ...........................
 changes influenced by 39 ....................... taking senior roles
Changes in the economy
 service sector continues to be important
 increasing value of intellectual property
 more and more 40 ............................... workers

Transcript
Well, I’ve been talking to managers in a number of businesses, and reading surveys about the future
of management. And what I'm going to present in this seminar is a few ideas about how the activity
is likely to change in the next ten years. It isn't a scientific, statistical analysis - just some ideas for us
to discuss.
One area I want to mention is business markets, and I’m sure a really significant development will
be a major increase in competition, with companies from all round the world trying to sell similar
products.
Consumers will have much more choice - for instance, food products sold in Australia might be
manufactured in the USA, China, Finland and dozens of other countries. At the same time, mergers
and takeovers mean that governments are actually losing power to major global corporations.
We can probably all think of companies that exert a great deal of influence, which may be good for
consumers.
A third point I want to make about markets is that in the rapidly expanding economies, such as India.
China. Brazil and Russia, demand is growing very fast.
This is putting pressure on resources all over the world. I think businesses are becoming more open
to external influences. In particular, companies are consulting customers more and more before
making their business decisions.
Companies are finding out what they want and providing it, instead of making products and then
trying to sell them, which is the model of years ago.
Another influence is that concerns about the environment will force manufacturers to extend product,
lifecycles, to reduce the amount of pollution and waste. And in some cases, regulation will need to
be strengthened.
Many societies are much more fluid and democratic, and the structure of companies is changing to
reflect that. I think we're going to see a greater emphasis within companies on teams created with a
specific project in mind.
And when they're completed, the teams will be disbanded and new ones formed.
More and more people see work as simply one part of their lifestyle, and not the most important one,
and as the workforce is shrinking in some countries, businesses are having to compete for staff
instead of being able to choose among a lot of applicants. Typical examples that will attract and
retain staff are traditional ones like flexible hours and - something that has been made possible by
advances in technology - remote working, with people based at their home, abroad, or almost
anywhere they choose.
Management styles will almost certainly continue to change. Senior managers will require a lot more
than the efficiency that they’ve always needed. Above all they'll need great skills in leadership, so
that their organisation can initiate and respond to change in a fast-moving world, where they face
lots of competing requirements and potential conflicts.
In most of the world, the senior managers of large businesses are mainly men in their fifties and
sixties. The predominant style of management will almost certainly become more consultative and
collaborative, caused above all, by more women moving into senior management positions.
Many of the changes are influenced by developments in the wider economy. The traditional
emphasis of business was manufacturing, and of course the service sector is very important. But we
shouldn’t overlook the growing financial contribution of IP, that is, intellectual property. Some books
and films generate enormous sums from the sale of related DVDs, music, games, clothes, and so
on.
Another point I’d like to make is that although I’ve been talking about companies, one trend that they
have to face is the move away from people working for the same employer for years. Instead, more
and more people are becoming self-employed, to gain the freedom and control over their lives that
they’re unlikely to get from being employed.
OK, well that's all I want to say, so let’s open it up for discussion.