You're listening to Business English Pod, the Business English podcast for professionals on the move.
Hello, and welcome back to Business English Pod.
My name's Edwin and I'll be your host for today's lesson on collocations, for talking about strategy.
Think about the future of your company.
How will it remain competitive?
What are the long-term goals of your company?
What does your company want to achieve and how will it do that?
These are just some of the questions that you might consider when you discuss business strategy.
You need to think about what your business does well, how you can use your resources wisely and what you need to do to grow the company.
And when you discuss these ideas, you can use some common expressions or combinations, which we call collocations.
But what is a collocation?
A collocation is a group of words that sound natural together.
They sound natural because native speakers commonly use them.
And you can sound natural too if you learn these collocations.
For example, you can say, implement a plan.
That sounds natural.
But how about do a plan?
Well, that's not a common collocation, and so it doesn't sound natural.
As you listen to the conversation in this lesson, try to pick out some of these collocations and we'll discuss them later in the debrief.
In the dialogue we'll hear Anne, Jenny and Max, three executives at a food company called Healthy Organics.
They're discussing their strategy for developing the company into the future.
They'll talk about some important strategic decisions, and they'll use lots of useful expressions.
As you listen to the dialogue, try to answer the following questions.
One.
According to Anne, why do they need to broaden their product offerings?
Two, what does Jenny think they need to build on?
Three, what specifically does Anne want to figure out for the next three to five years?
So it sounds like we can all agree on this.
We'll adopt an organic growth strategy over the next five years.
And we'll focus our energy on expanding revenue from existing product lines first.
Keyword there being first.
You mean, let's not forget about new products, right?
Yes, that's part of it.
Two years ago, we shelved some ideas that the market wasn't ready for.
I think it's a good time now to revisit those ideas.
I agree with you, Max.
If we really want to enhance our value, we need to broaden our offerings.
We were big news three years ago, but now we're just one of several market players.
I'm with you in principle, but I want to make sure we continue to apply strategic thinking here.
We need to build on our core competencies, but still be innovative.
I'm not totally clear on what you're saying, Jenny.
Well, you mentioned some ideas that were put forward two years ago.
Are those still relevant?
Does the market want them?
We need to adapt to the current environment, which looks a bit different today than two years ago.
I see what you're saying, Jenny.
We need to make sure we're ahead of the curve, right?
Yes.
Organic growth doesn't have to mean we stay behind the times.
We still need a spirit of innovation to drive our future course.
So how about this?
Let's spend some time this morning talking generally about products and product development.
We're all up on market trends, so let's figure out some specific objectives we can pursue over the next three to five years.
I think that's a good idea, Anne.
Let's do it.
Great.
And then once we've done that, we can decide how to do it.
I mean, how can we mobilize our resources to move into new product areas in a timely fashion?
Yes, that sounds super.
And if we have this growth strategy worked out and some good product ideas, I think we'll be able to align activities throughout the company better.
I mean, let's talk production and distribution.
I think we need to set some clear goals in those areas too.
But I like leading with product development and looking at the whole business aspect later in the day.
Now let's go through the dialogue again and look at the collocations that Anne, Jenny and Max used in their conversation.
So it sounds like we can all agree on this.
We'll adopt an organic growth strategy over the next five years and we'll focus our energy on expanding revenue from existing product lines first,
Anne is summarizing some ideas that the group has agreed on.
One of those ideas is to adopt an organic growth strategy.
If you tuned in to the last lesson, you might remember that organic growth is about growing a business through increasing production and sales.
Anne is talking about adopting this kind of strategy.
We don't say make a strategy or do a strategy.
The natural collocation is to say adopt a particular strategy.
Let's practice some more ways of using this expression.
In such a competitive environment, I feel we need to adopt a more aggressive recruitment strategy.
Anne also mentioned that they had agreed to focus on sales of existing product lines or groups of products first.
Let's hear how Max responds.
Anne used the word first.
And Max wants to emphasize that idea, so he identifies it as a key word.
But what does Max mean by saying that first is a key word?
He must be saying that there are other things to think about after the first idea.
Jenny guesses that he means they also need to think about new products.
Is she right?
Yes, that's part of it.
Two years ago, we shelved some ideas that the market wasn't ready for.
I think it's a good time now to revisit those ideas.
Max confirms that he's talking partly about new products.
More specifically, he mentions that they shelved some ideas a couple of years ago that he thinks they should revisit or look at again.
To understand shelving an idea, think about storing something on a shelf.
You don't need it now, so you put it away for later.
In strategic planning, you often have to choose the best of several ideas, and other ideas might be shelved.
What are some other ways we can use this collocation?
Let's run through a few more examples.
We simply don't have the money to do this right, so I say we need to shelve the idea for now.
Dan has decided to start his own business to pursue all the good ideas.
He has had to shelve because he was too busy before.
So what do others think of Max's suggestion about revisiting an idea they shelved two years ago?
I agree with you, Max.
If we really want to enhance our value, we need to broaden our offerings.
We were big news three years ago, but now we're just one of several market players.
Anne certainly agrees with Max.
She believes they need to broaden their offerings or create new products to enhance value.
Value is what a business is worth.
The aim of any business is to increase or enhance value, and a good strategic plan should help a business do that.
Let's run through some more examples of this collocation to enhance value.
By increasing our real estate holdings, I really think we can enhance the value of our company and attract more investment.
Doing major upgrades and buying new machinery has helped the company enhance the value of its factories.
Now, what does Jenny think about revisiting some old product ideas and broadening their offerings?
I'm with you in principle, but I want to make sure we continue to apply strategic thinking here.
Jenny sounds more hesitant.
She says she is with them in principle, which means she agrees with their basic ideas.
But she follows this agreement with a but statement, emphasizing that they need to apply or use strategic thinking.
In other words, she wants to think carefully and make sure those ideas fit with their overall business goals.
And strategic thinking is about what not to do as much as it is about what to do.
Let's practice some more ways of using this collocation, strategic thinking.
Come on, people.
We need strategic thinking here, not just a bunch of ideas that may or may not work.
The facilitator encouraged us to look at the problem from all angles and apply strategic thinking to find a realistic solution.
Jenny gives a bit more explanation about how they should apply strategic thinking.
We need to build on our core competencies but still be innovative.
Jenny suggests building on or using and leveraging their core competencies.
Core means central and competencies are abilities.
So a business's core competencies are the things it does really well.
Core competencies is an important concept when it comes to strategic planning, since understanding your core competencies helps you decide what to do and what not to do.
What are some other ways of using this expression?
Let's run through a few more.
Our core competencies concern research, development and manufacturing, so moving into providing services just doesn't fit.
To figure out which of these new products we should put our energy into.
We need to decide which ones fit with our company's core competencies.
Now let's get back to the dialogue, as Max wants Jenny to explain what she means more clearly.
I'm not totally clear on what you're saying, Jenny.
Well, you mentioned some ideas that were put forward two years ago.
Are those still relevant?
Does the market want them?
Jenny explains by referring to the ideas that were put forward two years before.
Putting forward an idea is like suggesting or proposing it.
You put an idea forward and let people discuss it.
The idea may or may not be accepted.
Remember that Max had suggested revisiting the old ideas.
But Jenny wants to ask some important questions like whether they are relevant or whether they still matter and whether the market wants them.
A lot of strategy discussions involve putting forward ideas for consideration, so let's try some more ways of using this collocation to put forward an idea.
Norma's usually pretty quiet, but at the last meeting she put forward a really bold idea for reducing costs throughout the company.
If I can just interrupt for a moment here, I'd like to put forward an idea for improving our online presence.
By asking questions about the ideas Max has mentioned, Jenny wants to make sure they're still valuable.
Let's hear her explain.
We need to adapt to the current environment, which looks a bit different today than two years ago.
Jenny's whole point is that they need to adapt to the present environment.
In other words, they need to change to fit the market and situation of today.
Is an idea from two years ago still valuable?
Maybe, or maybe not.
Jenny simply wants to apply strategic thinking and make sure the company is adapting to the environment.
Let's try some more examples of this useful collocation.
Even large companies that stay the same and fail to adapt to the changing economic environment can fail.
When we first moved into the Mexican market, it was a challenge to adapt to the new business environment.
Do the others understand what Jenny is trying to say?
I see what you're saying, Jenny.
We need to make sure we're ahead of the curve, right?
Yes, organic growth doesn't have to mean we stay behind the times.
We still need a spirit of innovation to drive our future course.
Anne wants to confirm that Jenny means they need to stay ahead of the curve, which means innovative.
And that's exactly what Jenny means.
They've agreed to adopt an organic growth strategy, but Jenny still believes that innovation should drive their future course.
In this case, drive means provide energy or power, and future course means future direction.
You'll notice that they're still talking about basic ideas and principles and values.
That's what a lot of strategy discussions are about.
What principles should drive the company's future course?
So how else can we drive a company's future course?
Let's run through a couple more examples.
People associate us with quality, and I think a continued commitment to excellence should drive our future course.
Since our last CEO retired, the company has lacked a strong leader to drive our future course.
Now let's get back to the dialogue.
So how about this?
Let's spend some time this morning talking generally about products and product development.
The group has been discussing general strategic principles, and now Anne wants to give some focus to their discussion.
She does this by using the language of suggestion, saying, how about this, followed by let's.
Anne wants to suggest a way forward in the discussion.
This is something that a facilitator, a leader or even a participant might have to do in a strategic discussion.
So let's practice some more ways to suggest a way forward.
Here's what I think we should do.
Let's talk about Europe first, then address the issue of North America.
Maybe the best way to tackle this is to list our client's current needs, then talk about which we can or can't handle.
Okay, everyone.
Why don't we start by deciding on some key strategic activities, then add details later?
I'm thinking that we could first go over production issues, then address the distribution problems.
Anne has suggested talking about products and product development.
She's even more specific about what she thinks they should talk about.
We're all up on market trends, so let's figure out some specific objectives we can pursue over the next three to five years.
Strategic discussions aren't only about general principles and concepts.
You also need to talk about pursuing specific objectives.
In our last lesson, we learned about setting goals.
Pursuing objectives is a similar idea.
Objectives are what we want to do or achieve, and pursuing them means chasing them or trying to get them.
In this case Anne is talking about specific objectives related to product development that they can pursue in three to five years.
Let's run through a few more ways of using this collocation for strategic discussions.
The new marketing plan helps us pursue several objectives, including increasing brand awareness and driving sales.
Rather than just hoping for the best, let's set some clear objectives that we can pursue over the next two years.
Do others like Anne's suggestion?
I think that's a good idea, Anne.
Let's do it.
Great.
And then once we've done that, we can decide how to do it.
I mean, how can we mobilize our resources to move into new product areas in a timely fashion?
Max likes Anne's suggestion, and she goes on to outline the next steps in their discussion.
In fact, Anne is sort of laying out a typical strategic planning process.
She has started by mentioning their overall goal and approach.
Then she suggests talking about specific objectives.
And next, she says they should decide how to achieve the objectives.
And part of the how discussion involves talking about how to mobilize resources.
It's great to want to achieve something, but you need to use what you have or your resources whether that's money, people or technology to achieve it.
What are some other ways of using this collocation, mobilize resources?
Let's practice a few more.
As a small company, Gulf Engineering is going to have to mobilize all of its resources to complete the new highway project.
It's useless to put an idea in our strategic plan if we are not willing to mobilize the resources to make it happen.
Now, let's listen as Jenny voices her opinion about Anne's suggestions for the discussion.
Yes, that sounds super.
And if we have this growth strategy worked out and some good product ideas, I think we'll be able to align activities throughout the company better.
Jenny also likes Anne's suggestion and she thinks that with agreement on growth strategy and products, they will be able to align activities in the company.
When you align things, you make them match or work toward the same goal.
Aligning business activities means that the different parts of a business are working together to achieve something like a business strategy.
Let's try a few more ways of using this collocation to align activities.
We need our different departments to align their activities better so the company can reach its overall goals.
Dave, your team is doing very interesting work, but I don't feel your activities are aligned with the aims of the business.
What kinds of activities does Jenny mean when she talks about aligning?
I mean, let's talk production and distribution.
I think we need to set some clear goals in those areas too.
But I like leading with product development and looking at the whole business aspect later in the day.
So we've heard the group agree on a general growth strategy and discuss some general principles.
Now they're going to set some clear goals for different business activities, leading with or starting with product development.
Then, as Jenny suggests, they'll get into production, how they make their products, and distribution how they get their products to customers.
It sounds like the group has a clear understanding of what they need to discuss and they're on the right track to a great business strategy.
Now it's your turn to practice some of the collocations we've studied in this lesson.
In a moment, you'll hear a series of sentences with a word replaced with a beep.
Repeat the whole sentence, including the missing word.
Remember a collocation is two or more words that we commonly use together.
So pay close attention to the words before the beep.
For example, if you hear, With our recent buyout of the competition we've really enhanced for our shareholders.
You can say, With our recent buyout of the competition, we've really enhanced value for our shareholders.
After each response, we'll provide the correct answer.
Ready?
Let's give it a go.
Everyone agreed when Brad put forward the to build a new website.
Everyone agreed when Brad put forward the idea to build a new website.
We are meeting today because we need to adopt a clear for our move into Europe.
Answer.
We are meeting today because we need to adopt a clear strategy for our move into Europe.
If our new development is approved, can we mobilize enough to finish it by July?
If our new development is approved, can we mobilize enough resources to finish it by July?
It can be challenging for older workers to adapt to the new work of a young tech company.
Answer.
It can be challenging for older workers to adapt to the new work environment of a young tech company.
I like what you're proposing, but I think we need to shelve the... until next year.
Answer.
I like what you're proposing, but I think we need to shelve the idea until next year.
That's all for this lesson on collocations for talking about strategy.
We've learned lots of useful expressions for talking about planning for the future and figuring out how to succeed as a company.
Thanks for listening, and see you again soon.
