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Business English Upper Intermediate U1S09 John Silberstein [email protected] Agenda •Listening Exercise •Planning: Planning Tools Listening Exercise BBC Business Daily Questions Why is global demand for oil down? What does this do to the price of oil? What does the Secretary General say about the recession and the recovery? When does he see the real recovery beginning? What does he say about the growth in the United States? What does the SecGen say about investment? How does Opec enforce oil production quotas with their members? Where did Opec meet last? How well have Opec members complied with the agreed quotas? What three things does the NFL do to ensure that the teams remain profitable and competitive? Listening Exercise BBC Business Daily Questions How well have Opec members complied with the agreed quotas? What three things does the NFL do to ensure that the teams remain profitable and competitive? What is the problem with smart phones? What does the cheap Nokia phone do that the smart phones do not? How do you feel about smart phones? Would you want a basic phone? Marketing: 4 Ps Planning Tools: SWOT Strength attributes of the person or company that are helpful to achieving the objective. Weaknesses attributes of the person or company that are harmful to achieving the objective. Opportunities external conditions that are helpful to achieving the objective. Threats external conditions which could do damage to the objective. Marketing: 4 Ps Planning Tools: SWOT Strength attributes of the person or company that are helpful to achieving the objective. Weaknesses attributes of the person or company that are harmful to achieving the objective. Opportunities external conditions that are helpful to achieving the objective. Threats external conditions which could do damage to the objective. Marketing: 4 Ps Products: SWOT Strength A strength could be: Your specialist marketing expertise. A new, innovative product or service. Location of your business. Quality processes and procedures. Any other aspect of your business that adds value to your product or service. Marketing: 4 Ps Products: SWOT Weakness A Weakness could be: Lack of marketing expertise. Undifferentiated products or services (i.e. in relation to your competitors). Location of your business. Poor quality goods or services. Damaged reputation. Marketing: 4 Ps Products: SWOT Opportunity An Opportunity could be: A developing market such as the Internet. Mergers, joint ventures or strategic alliances. Moving into new market segments that offer improved profits. A new international market. A market vacated by an ineffective competitor. Marketing: 4 Ps Products: SWOT Simple rules for successful SWOT analysis. Be realistic about the strengths and weaknesses of your organization when conducting SWOT analysis. SWOT analysis should distinguish between where your organization is today, and where it could be in the future. SWOT should always be specific. Avoid grey areas. Always apply SWOT in relation to your competition i.e. better than or worse than your competition. Keep your SWOT short and simple. Avoid complexity and over analysis. SWOT is subjective. Marketing: 4 Ps Products: SWOT Example: Starbucks Strengths: Starbucks Corporation is a very profitable organization, earning in excess of $600 million in 2004. Weaknesses: Starbucks has a reputation for new product development and creativity. Opportunities: New products and services that can be retailed in their cafes, such as Fair Trade products. Threats: Starbucks are exposed to rises in the cost of coffee and dairy products. Marketing: 4 Ps Products: SWOT Example: Nike Strengths: Nike is a very competitive organization. Phil Knight (Founder and CEO) is often quoted as saying that 'Business is war without bullets. Weaknesses: The organization does have a diversified range of sports products. Opportunities: Product development offers Nike many opportunities. Threats: Nike is exposed to the international nature of trade. Marketing: 4 Ps Products: SWOT Group Exercise Break into groups of 3 or 4 As a group, choose a product or company and complete a SWOT Analysis.