Set 69 - credibility can be established through word-of-mouth

Advanced English Conversations (2) - Robert Allans, Matt Edie, A. Mustafaoglu 2020

Set 69 - credibility can be established through word-of-mouth

Michael: Are we talking about defending the company against a hostile bid? Or promoting its image?

Jenny: Well, both really! You already have some kind of share bonus scheme, I suppose? Giving our employees shares as incentives for good performance.

Michael: Yeah; this is not just rewarding them but making them shareholders - making them loyal to the company. They know if there’s a takeover bid, they can do something about it. They will by all means hang on to their shares.

Jenny: I think we should propose it to the board. The new plan also promotes the elimination of any discriminatory hiring practices by employing people on the basis of ability and potential.

Michael: Great! Our main target must be bringing value to consumers. When customers recognize the merit of our products, our brand credibility can be established through word-of-mouth. We shouldn’t spend money on advertising. Instead, we devote our time into providing quality products that people trust and would willingly create buzz for.

Vocabulary;

a hostile bid: a situation in which one company offers to buy another company whose owners do not want to sell it.

promote the company image: to seek positive public perceptions of the company.

share bonus scheme: an incentive scheme where employees receive a bonus on meeting allotted sales targets.

a takeover bid: an offer or attempt to take control of a company by buying enough of its shares to do this, or the amount of money offered.

by all means: without fail; certainly.

hang on to: to detain someone or something; to persist.

discriminatory: (adjective) unfairly treating a person or group of people differently from other people or groups of people.

the merit of: the quality of being good and deserving praise.

brand credibility: the trustworthiness and believability of a brands product or service.

word-of-mouth: given or done by people talking about something or telling people about something.

create buzz: to draw positive attention and interest in something.

Exercise;

Fill in the gaps with the appropriate phrases or words;

1. He criticized what he called their .......... immigration policy.

2. A word-of-mouth recommendation is probably the best form of advertising.

3. Establishing a webpage is a must-have before reporters Google the company and find something that undermines the pitch or the brand's ..........

4. The new Google glasses are generating a lot of .......... on the internet.

5. Brierley's book has the .......... of being both informative and readable.

6. The two groups have opened talks about joining forces to head off a $48bn bid .......... from a fellow French oil group.

7. If the writer feels strongly about including drawings, citations, and explanations, then by all .......... include such material.

8. Please .......... on to Tom if he's still there. I need to talk to him.

9. For other companies, offering stock to employees can be part of a broader effort to improve employee relations (all types of companies) and promote the company's .......... internally.

10. Often, the more measurable a business, the more they use profit share .......... schemes.

1. discriminatory 2. word-of-mouth 3. credibility 4. buzz 5. merit 6. hostile 7. means 8. hang 9. image 10. bonus