Business English B1 - B2: Participating in meetings 1

Elena Adamova

3 Apr 201303:41

Summary

TLDRIn a meeting at Courts Power Group, a UK-based energy company, the management team discusses declining sales figures. Maya, the finance director, presents the financial data, suggesting cost-saving measures, while David, the sales and marketing director, defends the competitiveness of their products. Anna, the customer services director, notes a decrease in new contracts and suggests reviewing customer account procedures. Marcus, the managing director, proposes a customer survey for a neutral market view, considering hiring an external researcher to identify the root cause of the downturn.

Takeaways

📉 The company 'Courts Power Group' is facing a decline in sales figures and needs to address this issue urgently.
👔 Marcus, the managing director, has convened a meeting with key department heads to discuss the sales downturn.
📊 Maya, the finance director, has prepared handouts to present the current sales figures and suggests cost-saving measures, including possible redundancies.
🛠️ Marcus disagrees with redundancies and emphasizes the importance of a strong workforce for the company.
💼 David, the sales and marketing director, is unsure about the cause of the sales problem, as the company's products are competitive.
📋 David has also prepared handouts to detail the company's current offers, suggesting a review of these to identify issues.
📉 Anna, the customer services director, notes a decrease in custom and an increase in contract cancellations within 14 days.
🤔 Anna suggests that understanding why customers are not satisfied with the offers is vital information for the company.
📝 Anna proposes reviewing customer account procedures from first contact to after-sales care as a potential solution.
📊 Marcus considers a customer survey to see the company's position from the customer's point of view, suggesting a project team or hiring an external researcher.
💼 David agrees to look for a market research company to collaborate on understanding the cause of the sales problem.

Q & A

What is the main issue discussed in the meeting?
-The main issue discussed in the meeting is the decline in the company's sales figures for their region, which they need to address urgently.
Who are the key attendees of the meeting?
-The key attendees of the meeting are Marcus, the managing director, Meer, the finance director, David, the sales and marketing director, and Anna, the customer services director.
What is Meer's initial suggestion to address the sales decline?
-Meer suggests starting some cost-saving measures, which could include redundancies, to address the sales decline.
What is David's perspective on the company's products and the competition?
-David believes that their products are competitive and that the competition is not offering significantly better deals, implying that the issue might not be with the product offerings.
What does Anna suggest as a potential reason for the downturn in sales?
-Anna suggests that there might be issues with customer satisfaction or service, as there has been an increase in customers cancelling new contracts within 14 days.
What is Anna's proposal to improve the situation?
-Anna proposes reviewing the customer account procedures from first contact to after-sales care to identify potential issues and improve the sales figures.
What alternative suggestion does Marcus offer to understand the cause of the problem?
-Marcus suggests conducting a customer survey to get a better understanding of the customers' views and the company's position in the market from the customers' perspective.
What is the potential drawback of Marcus's suggestion mentioned by David?
-The potential drawback mentioned by David is that conducting a customer survey would require forming a project team, which could mean reallocating staff from other departments.
What is the alternative to forming an internal project team suggested by Marcus?
-Marcus suggests hiring an external researcher to get a neutral view on the company's market position and customers' views, instead of forming an internal project team.
Who agrees to look for a market research company to collaborate on the customer survey?
-David agrees to look for a market research company that they could work with on conducting the customer survey.
What is the general consensus on the need to understand the cause of the sales decline?
-There is an agreement in principle among the attendees that understanding the cause of the sales decline is necessary to address the issue effectively.

Outlines

00:00

📉 Declining Sales Figures

In this meeting, Marcus, the managing director of Courts Power Group, a UK-based energy company, addresses the issue of declining sales figures in the region. He has gathered Meer, the finance director, David, the sales and marketing director, and Anna, the customer services director, to discuss urgent measures. Maya presents handouts to illustrate the sales performance year to date, indicating a need for cost-saving measures to meet the budget. The possibility of redundancies is mentioned, but there is disagreement on this approach, emphasizing the importance of a strong workforce. Marcus suggests considering cost-cutting while also addressing the sales downturn to regain market share.

Mindmap

Keywords

💡Sales Figures

Sales figures refer to the quantitative data showing the sales performance of a company over a specific period. In the video, the discussion revolves around the decline in sales figures for the region, which prompts the meeting. Understanding and addressing these figures are crucial for the company's strategy and decision-making.

💡Cost-Saving Measures

Cost-saving measures are strategies implemented to reduce expenses and improve financial efficiency. Meer suggests the need for such measures to meet the budget, hinting at potential redundancies, although this idea is met with resistance. The concept highlights the tension between cutting costs and maintaining a strong workforce.

💡Market Share

Market share represents the percentage of an industry’s sales that a particular company controls. The video discusses the need to stop the downturn in sales and regain market share, indicating that the company is losing its competitive position in the market.

💡Customer Cancellations

Customer cancellations refer to instances where customers terminate their contracts or orders within a specified period. Anna mentions an increase in customers canceling new contracts within 14 days, which is a significant concern that may be contributing to the decline in sales.

💡Customer Account Procedures

Customer account procedures are the processes involved in managing customer interactions from the first contact to after-sales care. Anna suggests reviewing these procedures to identify and address potential issues that could improve customer satisfaction and sales figures.

💡Customer Survey

A customer survey is a tool used to gather feedback from customers about their experiences and perceptions of a company’s products or services. The video mentions the idea of conducting a customer survey to understand the full picture from the customer’s point of view, which could provide valuable insights into the causes of declining sales.

💡Market Research

Market research involves gathering, analyzing, and interpreting information about a market, including information about the target market, competitors, and customer preferences. David is tasked with finding a market research company to conduct an external survey, which suggests that the company is seeking a neutral perspective on its market position.

💡Competitiveness

Competitiveness refers to the ability of a company to offer products or services that meet or exceed those of its rivals in terms of price, quality, or other factors. David asserts that the company’s products are competitive, implying that the issue with declining sales may not be due to better offers from competitors.

💡Redundancies

Redundancies refer to the elimination of jobs within a company, usually as a cost-cutting measure. The possibility of redundancies is mentioned by Meer as one way to implement cost-saving measures, although this suggestion is met with opposition due to concerns about maintaining a strong workforce.

💡External Researcher

An external researcher is a third-party professional brought in to conduct independent research or analysis. The video discusses the idea of hiring an external researcher to gain an unbiased view of the company’s market position and customer perceptions, which could be critical in addressing the sales decline.

Highlights

Courts Power Group is facing a decline in sales figures in their region and needs to address this issue urgently.

The meeting involves key directors from finance, sales and marketing, and customer services to discuss the sales downturn.

Maya from finance presents handouts showing the current sales figures year to date and the budget required.

Maya suggests starting cost-saving measures, including the possibility of redundancies, to address the sales decline.

The managing director disagrees with redundancies, emphasizing the need for a strong workforce.

David from sales and marketing believes the company's products are competitive and questions the cause of the sales issue.

David presents handouts detailing the current offers, suggesting a review of these to understand the sales problem.

Anna from customer services reports a decrease in custom and an increase in contract cancellations within 14 days.

Anna suggests reviewing customer account procedures from first contact to after-sales care to improve sales figures.

The managing director proposes a customer survey to gain a better understanding of the customers' perspective.

There is a debate on whether to form a project team internally or hire an external researcher for the customer survey.

The idea of hiring an external researcher is liked for its neutrality and potential to provide valuable market insights.

The managing director agrees in principle to understand the cause of the problem and assigns David to find a market research company.

The meeting concludes with an agreement to move forward with understanding the sales decline from the customer's point of view.

The transcript highlights the importance of a collaborative approach among different departments to address business challenges.

The discussion emphasizes the need for data-driven decision making and considering both internal and external perspectives.

The meeting showcases the company's commitment to understanding customer needs and improving its market position.