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BEP 355 – Financial English: Discussing Taxes 1

Business English, Business English Vocabulary, English Collocations, Finance and Accounting / March 1, 2020

Welcome back to Business English Pod for today’s lesson on English collocations related to taxes.

There’s an old saying in English that “nothing is certain except death and taxes.” But, although taxes are certain, the exact amount you have to pay isn’t. Just ask any accountant. For both companies and individuals, there are all sorts of ways to lower your tax bill. And a lower tax bill means more money in our pockets, or in our shareholders pockets. For this reason, tax is a popular topic of discussion, especially in the spring when most taxes are due.

In this financial English lesson, we’ll listen to three managers at Brando Equipment discuss their tax situation. During the conversation, the managers use a lot of common expressions related to taxes. We call these expressions “collocations.” A collocation is just a group of words that go together naturally.

Some English collocations, such as “take a chance,” are widely used. But many collocations are particular to a certain field of work or topic. And to work in that field or discuss that topic, you need to know these special expressions. When it comes to taxes, for example, you need to know that we use the verb “file” with “taxes” to talk about our yearly report to the government. Learning collocations like this in different fields will develop your vocabulary and help you sound more natural.

In the dialog, we’ll hear Christie, Glen, and Ivana discuss the tax situation at Brando Equipment, a subsidiary their company has recently purchased. Glen and Ivana are corporate managers, while Christie is an accountant. The three colleagues use many English collocations and vocabulary specific to taxes as they talk about how much tax Brando Equipment owes.

Listening Questions

1. What does Ivana hope that they finish by the 30th of the month?
2. Near the start of the conversation, what does Christie say is higher than they anticipated?
3. What key piece of information does Glen want to know?

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Business English News 43 – Climate Change

Business English, Business English Vocabulary, Business News, ESL Podcast / February 18, 2020

Change is a constant, and the earth’s climate has never been perfectly stable. But in recent years the pace of climate change has accelerated to the point of crisis. Scientists around the world are sounding the alarm, and more and more people and institutions are realizing that drastic times require drastic measures. Business is not immune. According to the New York Times:

The Carbon Disclosure Project analyzed submissions from 215 of the world’s 500 biggest corporations. They found that these companies faced roughly $1 trillion in potential costs related to climate change in the decades ahead, unless they took proactive steps to prepare. By the companies’ own estimates, the bulk of those financial risks could start to materialize in the next five years or so.

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BEP 354 – Business English Coaching 3: Reviewing Progress

Advanced, Business English, Human Resources, Training / February 9, 2020

Welcome back to Business English Pod for today’s lesson on reviewing progress in a coaching program.

Do you set goals for yourself? More than likely, right. And this is something we hear a lot about, especially in the New Year. Setting goals is a fundamental part of success. And if you are in a coaching role, you have probably helped other people set goals for themselves. But the real work isn’t in setting the goals; it’s in following through and putting energy into meeting these goals.

And as someone’s coach, your work isn’t done once you help someone decide on some objectives. The next step is following up, which typically means sitting down with the person you’re coaching to review progress. You ask them how things have been going, and listen as they describe what they’ve done. But sometimes, the person hasn’t really followed through. What then?

That’s when you prove your value by holding the person accountable. And that might include reinforcing your company’s values, as you try to hold the person to their commitments. Of course, the person might have encountered barriers, which you can ask about and discuss. Still, those barriers shouldn’t serve as excuses, and you may have to push the person a bit to reach their potential. And, of course, a good coach remains supportive throughout this kind of process.

In today’s dialog, we’ll continue listening to a conversation between two lawyers, Marion and Rachel. Marion has been coaching Rachel as she adapts to her new job as a young attorney. They’ve discussed some of the problems Rachel faces, and set some goals. Now Marion is following up and reviewing progress toward those goals.

Listening Questions

1. What does Marion say when Rachel blames Jeff for some problems?
2. What barrier does Rachel identify to improving her profile and network?
3. After challenging Rachel to do better, what does Marion offer?

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BEP 353 – Business English Coaching 2: Setting Goals

Advanced, Business English, Human Resources, Training / January 29, 2020

Welcome back to Business English Pod for today’s lesson on setting goals during a coaching session.

You’ve probably heard that an important part of coaching is listening and showing empathy. A good coach tries hard to understand the person he or she is trying to coach. That helps build trust, which creates a constructive relationship. But what is that relationship for? What kind of work does that trust allow?

Once you build a good relationship as a coach, then you can start talking about improvements. After all, coaches don’t exist just to hear about people’s problems. Their whole purpose is to help people get better. And a big part of getting better is setting goals, which is something a good coach can help with.

So how do we work with someone on their goals? Well, that might start with asking about their motivation. After all, goals have to be directed at something. If someone’s motivated by the idea of getting a promotion, then the goals have to relate to that. And that underlines the fact that they are the other person’s goals. We don’t set goals for them. We ask them about their goals. Then we can help them break their goals into smaller objectives.

Of course, another important role of a coach is to give encouragement. So when we help someone set goals, we are in a good position to show confidence in their ability to meet them. And finally, we might ask them about their next steps. That is, what are the concrete activities that the person will take as she tries to accomplish her goals?

In today’s dialog, we’ll rejoin two lawyers: Marion and Rachel. Marion has been coaching Rachel as she learns how to be a better lawyer. In the previous lesson, we heard Marion trying to figure out Rachel’s challenges. Now we’ll hear her help Rachel set some goals.

Listening Questions

1. What does Marion ask Rachel about at the start of the conversation?
2. What short-term objective does Rachel identify for herself?
3. What does Marion say she is “sure about” and has “no doubt about?”

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BEP 352 – Business English Coaching 1: Needs Analysis

Business English, Human Resources, Management English, Training / January 19, 2020

Welcome back to Business English Pod for today’s lesson on English for coaching.

Everyone understands the importance of a good coach in sports, but what about a good coach at work? In fact, coaching is an important part of every manager’s job. Managing people isn’t just about telling them what to do and how to do it. A good manager helps employees develop and reach their full potential, just like in sports. And that requires an open and constructive coaching relationship.

Coaching involves an ongoing dialog between you and the employee. Together you’ll assess the situation, set goals, monitor those goals, and adjust your activities and objectives as you go along. Yes, I said “together.” The 21st century manager isn’t the same as the 1980s manager. The relationship is different. You have to be the boss without being bossy. You need to maintain your authority and the employee’s autonomy at the same time. That’s a fine line to walk.

Coaching often begins with a needs analysis. That is, you’re meeting with an employee to figure out what is working well, what’s not working at all, and what can be improved. That conversation will involve a lot of open-ended questions. It will also involve showing empathy, which is an important part of leadership.

When you talk about the employee’s performance, it’s important to give very specific examples of behavior. It’s also important to ask for their perspective on those behaviors. Ultimately, you want to get the employee to agree about what his or her challenges are. Only then can you move on to talk about solutions.

In today’s dialog, we’ll hear Marion, an experienced lawyer, coaching a younger lawyer named Rachel. Marion and Rachel are having an open discussion about Rachel’s performance, and trying to establish what her needs might be.

Listening Questions

1. Why does Marion mention her own experience at her first job?
2. What example of Rachel’s performance does Marion bring up for discussion?
3. After assessing the problem, what does Marion ask Rachel at the end of the conversation?

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