VIP Class Notes (Whitney) (R+W)

Grammer back to basics refresher: focus on when to use “be” and “that” in a proper sentence.

Vocabulary

morphine (n)
I got 5 injections of morphine to numb the pain.

wisdom tooth
My wisdom tooth was growing sideways (horizontally) and it affected the rest of my teeth. (grew into my other teeth/it made  the rest of my teeth slant) 

extract (v)
The dentist cut away my gums and crushed the affected tooth in order to extract it.

attempts to confirm: trying to find a way to make sure the business plan can be done
confirm = approve, certify, establish, make something happen
attempt = try to do something

achievable (adj) when you can do it
Waking up at 8 AM every day is not achievable for me.
Going to breakfast with my friends before the Chinese New Year holiday is achievable.

facilty (n) building/place of business
My school has a lot of facilities like a gym and a swimming pool.
Our current operating facilities include an office downtown and a factory in the country.

expenditure (n) the outgoing money spent by a business
Our recent expenditures include new materials, stationary and uniforms.

wrought out – bring out, extract out, coming up with a way to complete a hard task
To complete this project on time, we wrought out a complete project management list.

abort (v) to give up or to stop doing something
Abort mission (if there is danger or a problem, stop your work and get to safety)
If the plan does not work, you can abort it.

negotiate (v) a discussion about trying to agree on something between two parties
Negotiating a business deal, negotiating a salary/pay rise

Party A wants to sell a business for $1 mil, and Party B is only willing to pay for $800k, then both parties have to negotiate on the price.

Re-negotiate something: to discuss again after already agreeing.

Party A agrees to sell at $900k after negotiating with Party B, but after performing operational due diligence, Party B decides to stick with their first offer, then they must re-negotiate.

handover (n) 交接 passing one task/job to another person
A proper handover before Spring Festival is important to ensure that everything runs smoothly.

Due Diligence Checklist: 

1. Financial DD ( completed in the previous lesson)
2. Legal DD (completed in the previous lesson)
3. Operational DD
4. Product DD
5. Human Resources DD
6. Asset DD
7. Environmental DD
8. Tax DD
9. Intellectual Property DD
10. Customer/Client DD

Operation Due Diligence
The ODD review looks at the main operations of the target company and attempts to confirm (or not) that the business plan that has been provided is achievable with the existing operational facilities plus the capital expenditure that is outlined in the business plan.

Additionally, the ODD review will consider whether there is the potential for additional value to be wrought out of the target company by improving its operational function.

Also whether there are serious operational risks about which the potential buyer should be concerned (thereby allowing the buyer to consider aborting the deal or renegotiating the price).

Topic: Negotiating
Explain how you would use negotiation to fix a problem that you recently faced at your work.

Original 

Now The Spring Festival is coming , everyone wants to go home, but we still have a project should complete before the vacation. So I need to arrange the work reasonably and finish it  more efficiently. first，I need to make a work 流程 schedule，and arrange the 交接 time of each item reasonably. second，I will Give the job to the person who does best. I think it doesn’t let everyone working from start to finish, but we must keep in touch.

Corrected 

Now that the Spring Festival is coming, everyone wants to go home, but we still have a project that should be completed before the vacation. So I need to arrange the work reasonably and finish it more efficiently.  First, I need to make a work 流程 schedule and arrange the handover  交接 time of each item reasonably. Secondly, I will give the job to the person who does it best. I think it allows doesn’t let everyone to work efficiently instead of everyone working unnecessarily from start to finish, but we must keep in touch throughout the process. 

Pronunciation

achieveable = ah-cheeve-able
facilities = fa-cill-ee-tees
renegotiating = re-neh-go-she-ate-ing