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In this Business English News lesson on the resurgence of robots, we look at business English vocabulary related to robotics and technology.
While generative AI has been grabbing the headlines lately, the world of robotics has been developing at a rapid clip. The robot industry has been expanding exponentially, albeit mainly outside the spotlight of the mass media. And, as MSN explains, business is booming:
According to an announcement by the International Federation of Robotics, the stock of operational robots around the world has now reached 3.5 million units, and the value of installations has reached an estimated $16 billion. According to the Federation, robotics now plays a fundamental role in the changing demands of manufacturers around the world.
Of course, talk of robots will immediately call to mind automotive manufacturing, and car-makers were certainly one of the earliest adopters. But it’s not just the automotive industry anymore. Robots are being deployed on smaller scales, alongside humans, outside of assembly-line manufacturing. Robots have found applications throughout the economy, for companies big and small.
For companies that sell products, quality control is critical. Not just for ensuring consistency, safety, and reliability, but for meeting customers’ expectations. When customers buy from your company, they’re thinking about more than just the product itself. They’re thinking about how well you serve them.
Customer service involves a huge range of activities. Pretty much any time a customer interacts with a person or a system in your company, it’s customer service. And you need to think about everything from how easy it is to use the website, to the tone your employees use on the phone.
When we talk about customer service, and the quality of customer service, there are many special expressions we use. Many of these are combinations of words that we call “collocations.” You might often learn individual vocabulary words, but we don’t always think, or speak, in individual words. We speak in chunks of language. These chunks are called collocations. In fact “customer service” itself is a collocation. Those two words go together to create a new idea.
In today’s dialog, we’ll continue a conversation between Emma and Paolo. Emma is a consultant that helps companies with quality control. And Paolo runs a company that makes and services solar panels. As they discuss the work that Emma will do for Paolo’s company, they use many English collocations. We’ll explain those collocations later in the debrief.
Listening Questions
1. What two goals does Paolo have regarding customer service quality? 2. What does Paolo’s company do after every install or service call? 3. What has Paolo’s company not done yet, in a documented way?
Welcome back to Business English Pod for today’s lesson, the first in a two-part series on quality control. In this lesson, we’ll focus on the manufacturing side of things.
Successful companies understand the importance of quality. At minimum, quality control is about meeting industry standards or regulations. Beyond that, quality is a huge factor in brand reputation and customer satisfaction. And a commitment to strong QC, or quality control, can also lead to significant cost savings.
Given these benefits, no wonder many companies have entire teams or positions dedicated to monitoring quality. And, just like any other area of expertise, quality control comes with its own special language. Much of this language appears in set expressions that we call “collocations.” In fact, I just used one when I mentioned “monitoring quality.” To monitor quality is a common collocation related to quality control.
Collocations are just natural combinations of words. Certain verbs and adjectives always go with certain nouns. And certain nouns often combine to create a special meaning. If you just learn new words individually, you might miss these natural combinations.
In today’s dialog, we’ll hear a conversation between Paolo and Emma. Paolo works for a company that manufactures, sells, and services solar panels. Emma is a quality control consultant. Paolo’s company is looking to hire Emma to conduct a quality control audit, or a review of their systems. During their conversation, they use lots of English collocations, which we’ll explain later in the debrief.
Listening Questions
1. What does Paolo say they did after completing a safety audit? 2. What kind of testing will Emma’s work not include? 3. What is the purpose of “pulling samples” in quality control?
Welcome back to the Business English Skills 360 podcast as we continue learning about cognitive bias. In this lesson, we’ll look at how to deal with the biases that impact our decision-making.
Trusting your gut and making quick decisions might work in some cases. But if you think your decision-making ability is based on perfect reasoning and complete information, well you’re wrong. You’re only human after all. And your decision-making machinery is flawed. In our last lesson, we had a closer look at exactly the kinds of biases that lead to suboptimal decisions. So how can you overcome these biases?
It’s a question that every good manager should be asking themselves. And making better decisions while avoiding biases comes down to a few key things: awareness, curiosity, and evidence. Let’s start with awareness. Now, if you tuned in to our last lesson when we talked about different types of bias, then you’re already on the right track.
Welcome back to the Business English Skills 360 podcast for today’s lesson on cognitive bias. These are factors that affect our ability to make good decisions and reasonable judgments.
Cognitive biases are factors that can negatively impact our decision-making and judgments. We make numerous decisions daily, ranging from significant ones like hiring employees to minor ones deciding where to go to lunch. These decisions often rely on intuition, information, and others’ perspectives. However, biases, which are unconscious tendencies, can lead to suboptimal decisions.
One common bias is the confirmation bias, where we focus on information that supports our existing beliefs and ignore contradictory evidence. This can cause us to become entrenched in incorrect views. Another is the sunk-cost fallacy, where we stick to a decision due to prior investments, even when it’s not the best choice.
The halo effect and horns effect are biases where one trait of a person influences our overall perception of them, often leading to misjudgments. For example, attractiveness can be wrongly equated with competence, while negative traits can overshadow a person’s capabilities.
Intuition can sometimes mislead us, making data crucial for decisions. However, biases like sample size neglect, where we draw conclusions from insufficient data, can still occur. Availability bias makes us overestimate the likelihood of recent events, such as fearing flying after hearing about a crash despite its relative safety.
The planning fallacy leads us to underestimate the time needed for tasks, often because we consider only the best-case scenarios. Recognizing these biases is the first step to mitigating their effects.
Welcome back to Business English Pod for today’s lesson on clarifying in English meetings. Previously we looked at how to clarify what was said when you didn’t hear properly. Today we’re going to look at how to clarify what someone means in order to avoid misunderstandings.
Life would be simple if everyone said what they meant clearly and directly. But that’s not the way things work. People often speak indirectly or use words that are a bit confusing. For this reason, we often need to clarify what people mean.
There are several ways to do this. You can tell someone you don’t understand. Or you might confirm an idea or restate what someone says if you think you might understand. And it may take some time to work out the general meaning or the meaning of a specific word.
Today we’ll listen to a meeting between Michael, Rachel, and Ryan. Michael is leading the meeting and talking about the disappointing launch of a new product. During the conversation, it’s not always clear what people mean. For this reason, they use several different expressions for clarifying what was meant.
Listening Questions
1. What expression does Michael use about the “numbers” that Ryan tries to clarify? 2. What does Ryan ask about that Michael wants to clarify? 3. What word does Michael use that Rachel asks about near the end of the conversation?
Welcome back to Business English Pod for today’s lesson, the fifth in our series on financial English. In this lesson, we’ll focus on selling a client on a new investment opportunity.
Some people would say that selling is all about convincing someone that they want or need what you’ve got. But that’s just half of it. A car salesman might convince you that you want a new car. But then he has to show you why his car is better than the others. And that it’s worth the money he’s asking.
Things get a little trickier when it comes to selling financial services. Investing isn’t just about the current value, but about how that value will grow in the future. So, compared to selling a car, there’s just a lot more at stake!
In this situation, you’ll need to do a good job of assessing risk and comparing an opportunity to other opportunities. You’ll also need to work with clients who’ve done some research. That means warning them against bad information and showing them alternatives. It also means reducing pressure on the client so that you don’t scare them off.
In today’s dialog, we’ll rejoin a conversation between Robert, an investment advisor, and his client Jessica. Robert is attempting to sell an opportunity to Jessica and steer her away from bad information.
Listening Questions
1. What does Robert say is the difference in risk between a classic and an alternative hedge fund? 2. What does Robert say about corporate bonds after Jessica mentions that she’s read about them? 3. What does Robert suggest as an alternative to corporate bonds?
Welcome back to Business English Pod for today’s lesson, the fourth in our series on financial English. In this lesson, we’ll focus on pitching a new opportunity to a client.
In certain ways, selling financial services is just like selling any other kind of product. You connect with people and you match your solution to their needs or desires. And, of course, you show how that solution is worth the money it costs. But with financial services, these activities are usually much higher stakes.
Working with other people’s money requires you to work on maintaining a strong relationship. It’s not a one-off purchase, but an ongoing transaction. You need to let them know how their investments are doing and show clients you understand them as people, including their concerns.
Then, when the time is right, you can pitch new opportunities. If you’re smart, you can set up a real win-win situation with your clients. If they earn more money, then you earn more money, and you both end up better off.
In today’s dialog, we’ll listen to a conversation between Robert, an investment advisor, and his client Jessica. Robert wants to give Jessica an update on her current investments before introducing a new opportunity involving a hedge fund.
Listening Questions
1. What expression did Jessica use previously that Robert now brings back up in order to pitch her a new opportunity? 2. What does Robert say is the main benefit of a hedge fund? 3. How does Robert respond when Jessica expresses concerns that a hedge fund requires a big investment?
The past few years have been a very interesting time for the world economy. A pandemic has exposed the vulnerabilities of global supply chains. Geopolitical tensions around the world have intensified, stoking inflation. In response to these disruptive forces, we are seeing a new international dynamic emerge, as Shroders reports:
A decades-long process of globalization is coming to an end as the world becomes more protectionist, favoring opportunities closer to home. Multinational corporations are diversifying where they produce goods and relocating closer to home. This trend represents backtracking from the globalized model of extended supply chains that have defined international trade in the past few decades.
Many saw globalization as an unassailable model for economic development, one that brought universal benefits. And there are many who see deglobalization, as it’s being called, as either regressive or bad for business. But the cracks in the globalized economy are evident.
Welcome back to Business English Pod for today’s lesson on how to clarify what was said during a conversation.
Communication is rarely easy. There’s so much that can go wrong in a conversation, especially on the phone. We might not hear someone well, we might hear them incorrectly, and we might not understand words or expressions in the same way. For that reason, we need to be able to clarify what was said.
There are a few basic ways to clarify that are extremely useful. We can use “WH” questions, like who, what, where, when, and why. We can ask people to repeat what they said and repeat things for people when they haven’t understood us. And we can use tag questions to confirm that we’ve heard correctly.
Today we’ll listen to a telephone conversation between three colleagues: Benny, Wim, and Andre. They are speaking on the phone for the first time in a while. During their conversation, they use several expressions to clarify what was said.
Listening Questions
1. What does the receptionist say that Benny doesn’t understand right away? 2. What question does Benny ask that Wim needs repeated? 3. What question does Benny restate about the river in Rotterdam?
Business English News 55 – 2024 Global Economic Outlook
Jan 07, 2024
In this Business English News lesson, we look at business English vocabulary related to the economy and finance and the global economic outlook for 2024.