market_leader_3e_-_intermediate_-_course_book (852196), страница 40

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So, moving up the scalestake of25% in our business. "nle name of our product is MultiStore.of risk we go from cash to fixed-interest securities, where in effectthe client will be lending their money to either a government or acompany in return for a fixed rate of return, with the view that capitalwill increase over a period of time. We then look at, lim, index-linked- i.e. linked to the rate of inflation - securities. Equities will be thenext level of risk - an equity being a stock or a share - where you'rebuying part of a compan)', and obViously as the company performsbetter, the price of that share should increase.

We then look at slightlymore esoteric or different areas of investment to give some returnthat's not linked to equity returns ... to share returns ... for instance,commercial property is an area where one can achieve a fairly goodincome return, but you're investing long term into bricks and mortarCOl TRACK 42 (Tl = TYCOON 1, T2 = TYCOON 2,El = ENTREPRENEUR 1, E2 = ENTREPRENEUR 2)T1 OK, another question I'd like to ask you.

Have you taken out a patentfor the device?El Yes, we have. The product is fully protected against copying.Tl Excellent. And what's your profit margin on each I O-module unit?El It's approximately 80%.T1years, turnover and profit?El In year one, we forecast a turnover ofS1 SO,OOO and a profit ofapproximatel), S 120,000. Year two, turnover ofS600,OOO and a profit- something that ),Oll can see ...

something that's slightly more safe.of5480,000. And in )'ear three, a turnover ofS3 million and a profitWe also look at, er, commodities ... so looking at precious metalseither gold or platinum. We look at agriculture, which has becomean interesting area of development over the last 20 years. And thenT2we have the final asset class we call our alternative investments, andE2they can be either hedge funds, which invest in lots of difrerent areas,or something that's called absolute return funds, where the managerwill invest money across a whole wide range of areas with the view togiving small incremental elements of return over a reasonable period.And as I said earlier, we try and combine those asset classes to get thebest level of risk and return.Mmm, quite good.

And how about your forecasts for the next threeof$2.4 million.Now I'd like to ask a question. How many of the 1 0·module unitshave you sold, and who have you sold them to?I can answer that question, as " m the sales person in our tealll. \"'e'vesold about 2,000 units, mainly to major department stores andspecialist shops for household goods in New York and Chicago.T2 OK, thanks for all the information.

Now, I'll tell you what I think.I like your product, it's definitely got sales potential, and I'd liketo make you an offer. I'll give ),ou the full amount, 5200,000, butI'd want a stake of 50% in your business. The market for this sortofproduct is vcr)' competitive, there's a lot of risk involved, andmarketing and promoting it could be very expenSive. So that's thedeal I'm offering you.157AUDIO SCRIPTSElT1Mmm . .

. we'll have to think about that. OK, thank you. How ahoutcultures the concept and perception of timekeeping is very differentlyou? Arc you interested as well?and I guess the obvious one that people always use is the exampleYes, I like the product as well, but I also think it'll need a lot ofoflhe MJddle East. TIle Middle Eastern dock really revolves aroundmarketing to get established, and you may have to change thetwo things really - the prayer times and of course, because they werepackaging.

So . . . I'll offer you the full amount,desert travellers, about the movements of the sun and the moonl er,5200,000, for a stakeduring periods of the day.of45%.Um, other examples is where, abrain around time, where) perhapsEl OK, so we seem to have two offers on the table. Could I ask each ofT1T2you, what business expertise you could bring to our business? Howfrom a Latin culture's perspective, um, it's about buildingmuch help could you give us, apart from money?relationships before you actually get down to, to business.

Now veryWell, I have a company which sells household products to the retailoften Westernl and particularly American, bUSinesspeople find thattrade, and it's very successful. You would be able to usc our salesvery frustrating. For Americans, time is mone)" and so they'll beforce to build up sales and develop the brand. And I would be veryvery keen to actually ...

er, the salesman will be very keen to get outhands-on in developing your product.his sales literature and start exalting the virtues of the product he'sIn my easc, I have a very good track record investing in start-uptrying to sell yOll, er, they'll try to get on with the agenda as quickJybusinesses like yours. Basically, I invest in people, and I've beenas possible, whereas) particularly in Latin cultures and also in peopleimpressed with your presentation.

I think we could work well together.like Chinese cultures, relationship building is very important. They'llEl Thanks to both of you. Could we have a break and consider your offer?n&2 By all means/certainly. Take your time..want to entertain you for sure, and very often invite you back totheir home, and all this before they actually want to sit down anddo business with you because, in the Latin culture, they arc makingWORKING ACROSS C U LTURES 2:I N TER NATIONAL M E ETINGSCOl TRACK 43The culture we come from or live in influences what we sec, do, believeand say. It affects our expectations and behaviour, and we need to be verya\vatC ofit.

TIle Simple fuet is tllat whats nonnal or appropriate for usjudgements about you as an individual, as to, as to whether you're thekind ofperson that they want to do business with.COl TRACK 45 (I INTERVIEWER, JT JEFF TOMS)I Arc some people better suited for international business than others?JT Absolutely - er, what companies still tend to do is select people for=international business and business aSSignments, er, purely basedmay seem very strange or even rude to someone from a different culture.on their skill set.

So ifyou're the best civil engineer or you're thel'U look at three of the key areas of culture which may affectgreatest IT cOllsultant in the bUSiness, it is often thought that thiscommunication in international meetings, causing confusion andfully equips you to be the best person to conduct that businessfrustration.

Firstly, time: not aU cultures or people are ruled by theinternationally. Clearly those skills arc very important, but they havedock. TIlere are some cultures, it's true, where the feeling is indeedto be underpinned by, I think, a number of personal traits that makethat 'time is mane)': They will often have strict approaches to thisyou a more effective international businessperson.aspect ofmeetings, such as starting and finishing times and theSome of those traits - um, adaptability: )'ou have got to be preparedduration ofdiscussion.

Other cultures, however, have a completelyto adapt the \vay that you do business or adapt your expectationsdifferent approach and see the starting time as a guide only and theor your needs, to meet the needs of the culture ofthc people thatfinishing time as not fixed. Other stages may be surprisingly flexible,you're doing business with - so) adaptability; flexibility is obviouslyand you may find that there is little attempt to stick to the agenda."ery important. Er, you've got to be prepared to actually change theSecondly, the idea of hierarchy in a culture, and therefore in meetings,can be very Significant. By this, we mean the relative levels ofimportance and seniority which people have in a company.

Someonefrom a very hierarchical culture is likely to feel very uncomfortableparameters with which )'ou were intending to do business.COlT RACK 46 OT JEFf TOMS)JT Very important - and you'll know from this course in=communication - um, you've got to be a good listener. Er, you've gotsaying what they think or criticising the ideas of others, especially if theperson being criticised holds a higher position.

TIley arc also unlikelyto pay more attention than you would when speaking to somebodyto openly disagree or report a problem in front of a boss or manager.in your own culture to make sure that you have understood quiteCriticising the ideas of a superior could be seen as a loss offace forclearly what is being said. And one of the things that we always sayboth people involved.to people is that, to be very sure that you've actually heard what youAnother key area to think about is the objective ofthe meeting. Inthink you·ve heard.

There arc some steps )'OU can take. It's alwaysmany cultures, there's an attitude that meetings should have verya very good idea to get the individual, if you're not clear, to repeatclear purposes and 'get down to business' pretty quickJy ... using awhat they've said. It may seem tedious to you, but actually it's verystructured, pre-planned agenda is important. in such cnses, there's veryimportant to make sure that you haven't made mistakes.little in the way ofsmall talk - maybe just a couple of comments abolltI think also one of the key features orthe successful internationalthe weather, football, etc.

However, other cultures sec meetings as thebUSinessperson is to be non-judgemental. For instance, if you'replace for relationship building and developing trusl, so the meetingcoming from an Asian culture, er, to try and do business with, er, amay be a lengthy discussion, and actual decisions may often be madeWestern culture, er, for certain the way that people do things willoutside the meeting. Again, the idea that the purpose of a meeting is tobe fundamentally different - er, the hierarchy, the structure, themake a decision may be alien to some cultures.

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