Original
Dear Mr. Fuchs,
we have received your letter of April 08th, 2007 and we are pleased to provide you with following information. As you know, today it is very important to focus on employees and workers job satisfaction, because the human resource capital is a very expensive cost factor in the production area.
As an Human Resource manager of Krampf GmbH it is very important to find a way to motivate your 35 employees. There are two possibilities to do this.
Firstly, we will inform you about job enrichment and job enlargement. Both are methods of increasing job satisfaction. Secondly, we give you a brief overview about the Hawthorne effect. Last but not least we provide you with a possibility to improve the motivation of your employees.
Job enrichment and job enlargement are both methods to increase job satisfaction. Job enrichment is a process of improving work processes and environments so they are more satisfying for employees. Many jobs are monotonous and boring. Job enrichment tries to eliminate these problems and bring a better performance to the workplace. Job Enlargement is the horizontal expansion of a job. It involves the addition of tasks at the same level of skill and responsibility. It is done to keep workers from getting bored.
Now we would like to give a brief explanation about the Hawthorne effect. Researchers wanted to increase the employee’s productivity, so they changed the physical environment of the employees, like the temperature or the light level. The results of the research were very interesting. It shows that employees can be motivated if the management pay more attention to them. As you can see the Hawthorne effect has a major influence in the Human Resource Management. Managers have to pay more attention to their employees.
This Mr. Fuchs could be the solution for your problem with your unmotivated employees. I would suggest following steps to improve the motivation of your employees.
Firstly, you should introduce appraisal interviews every month. At these interviews the employees could say what is important for each of them to improve the motivation and the productivity. Secondly, we would recommend introducing a job rotation program. These rotation programs give the people the possibility to get not only new skills but also a broader overview of their work and their organization.
We hope the above information is useful for you. Please feel free to contact us if you should require any further information or help.
Best regards
Rajic 501
Korrektur
Dear Mr. Fuchs, We have received your letter of April 08th, 2007 and we are pleased to provide you with the following information. As you know, today it is very important to focus on employees' and workers' job satisfaction, because __ human resource capital is a very expensive cost factor in the production area.
As ahuman resource manager of Krampf GmbH, it is very important to find a way to motivate your 35 employees. There are two possibilities to do this.
Firstly, we will inform you about job enrichment and job enlargement. Both are methods of increasing job satisfaction. Secondly, we give you a brief overview about the Hawthorne effect. Last but not least, we provide you with a recommendation for how to improve the level of motivation of your employees.
Job enrichment and job enlargement are both methods to increase job satisfaction. Job enrichment is a process of improving work processes and environments so they are more satisfying for employees. Many jobs are monotonous and boring. Job enrichment tries to eliminate these problems and bring a better performance to the workplace. Job Enlargement is the horizontal expansion of a job. It involves the addition of tasks at the same level of skill and responsibility. It is done to keep workers from getting bored.
Now we would like to give a brief explanation of the Hawthorne effect. Researchers wanted to increase the employees' productivity, so they changed the physical environment of the employees, like the temperature or the light level. The results of the research were very interesting. They showed that employees can be motivated if the management pays more attention to them. As you can see, the Hawthorne effect has a major influence onhuman resource management. Managers have to pay more attention to their employees.
This, Mr. Fuchs, could be the solution for your problem with your unmotivated employees. I would suggest the following steps to improve the level of motivation of your employees.
Firstly, you should introduce appraisal interviews every month. At these interviews, the employees could say what is important for each of them to improve the motivation and the productivity. Secondly, we would recommend introducing a job rotation program. These rotation programs give the people the possibility to __ not only obtain new skills but also a broader overview of their work and their organization.
We hope the above information is useful for you. Please feel free to contact us if you should require any further information or help.
Best regards
Rajic 501
Inhalt bestens, sprachlich noch ein paar Übungen und es sitzt gut.
Re: Exercise 1 - Prost AGOriginal
Recently discovered unethical business practises have led to a significant loss in confidence especially in consumer markets. To restore trust many companies have started implementing corporate social responsibility programmes. The following report will cover a few aspects of CSR programmes and will give a suggestion what steps Prost AG could take to limit unethical behaviour on all management levels to ensure a high level of confidence in the company.
First of all the terms “insider trading” and “whistle blower” will be explained briefly. After that the term collusion will be defined. To conclude a suggestion for further steps Prost AG could take will be given.
Insider trading occurs, if somebody draws an advantage of information, which is not openly available. This can happen by either buying or selling stock. An example for this practise would be, if the manager of a company knows about negotiations with a certain investor and buys stock himself to gain an advantage from this knowledge. Another possibility would be if the chief financial officer of a company knows about the possible bankruptcy of the company and therefore sells its shares. Insider trading is illegal in most cases but often it is hard to supply evidence.
The next paragraph will explain the term of a “whistle blower”. A whistle blower is somebody who reports illegal practises within a company to government authorities. To ease this Whistle blowers are protected by law in the United States. Unfortunately this lead to a significant increase in false or inaccurate information provided to the authorities. Many recent US business scandals have been revealed by whistle blowers. A well known example is the collapse of the US electricity provider Enron.
In the following paragraph the term collusion will be explained. Collusion happens whenever firms illegally collaborate for a mutual gain. A widely known example is the so called “Lombard club” a cartel between some of the largest banks in Austria which colluded to maintain a higher level of interest rates than it would have been possible in free market operations. Collusion is very effective and therefore forbidden in most countries in the market situation of an oligopoly, where a few companies together can influence a wide area of the market.
As some examples described in the former paragraphs show, Corporate Social Responsibility becomes more and more important for many companies to ensure trust by their stakeholders. In any case implementing a CSR programme involves a few steps: First of all a manager responsible for all CSR activities should be appointed. After that clear rules – a corporate “code of conduct” – should be deployed. It is very important to communicate these rules of conduct within the company. Frequently a CSR audit should check if funds earmarked for meeting corporate social responsibility goals are used correctly.
The author of this reports suggests, that Prost AG should start implementing a CSR programme as soon as possible. This especially important because of Prost AG being a publicly hold corporation on the stock market.
Korrektur
Recently discovered unethical business practises have led to a significant loss in confidence, especially in consumer markets. To restore trust, many companies have started implementing corporate social responsibility programmes. The following report will cover a few aspects of CSR programmes and will give a suggestion for what steps Prost AG could take to limit unethical behaviour on all management levels to ensure a high level of confidence in the company.
First of all, the terms “insider trading” and “whistle blower” will be explained briefly. After that, the term collusion will be defined. To conclude, a suggestion for further steps Prost AG could take will be given.
Insider trading occurs __ if somebody draws an advantage from information__ which is not openly available. This can happen by either buying or selling stock. An example for this practise would be __ if the manager of a company knew about negotiations with a certain investor and bought stock himself to gain an advantage from this knowledge. Another possibility would be if the chief financial officer of a company knew about the possible bankruptcy of the company and therefore sold its shares. Insider trading is illegal in most cases but often, it is hard to supply evidence.
The next paragraph will explain the term ___ “whistle blower”. A whistle blower is somebody who reports illegal practises within a company to government authorities. To ease their situation, whistle blowers are protected by law in the United States. Unfortunately this lead to a significant increase in false or inaccurate information provided to the authorities. Many recent US business scandals have been revealed by whistle blowers. A well known example is the collapse of the US electricity provider Enron.
In the following paragraph, the term "collusion" will be explained. Collusion happens whenever firms illegally collaborate for a mutual gain. A widely known example is the so called “Lombard club”, a cartel between some of the largest banks in Austria which colluded to maintain a higher level of interest rates than __ would have been possible in free market operations. Collusion is very effective and therefore forbidden in most countries in the market situation of an oligopoly, where a few companies together can influence a large section of the market.
As some examples described in the former paragraphs show, Corporate Social Responsibility is becoming more and more important for many companies to ensure trust by their stakeholders. In any case, implementing a CSR programme involves a few steps: First of all, a manager responsible for all CSR activities should be appointed. After that, clear rules – a corporate “code of conduct” – should be deployed. It is very important to communicate these rules of conduct within the company. Frequently, a CSR audit should check if funds earmarked for meeting corporate social responsibility goals are used correctly.
The author of this reports suggests __ that Prost AG should start implementing a CSR programme as soon as possible. This is especially important because of Prost AG being a publicly hold corporation on the stock market.
Inhalt:
1) Leiwand.
Sprache:
1) "An example for this practise would be, if the manager": Klassische Situation, bei der man auf Deutsch ein Komma hätte, auf Englisch aber nicht (auf Englisch gibt es überhaupt nur sehr selten Kommas vor "if")
2) Bei Beispielen, die sich auf theoretische Handlungen beziehen, verwendet man bei den Zeitwörtern die Vergangenheitsform.
3) "The author of this reports suggests, that Prost AG ": In Situationen, wo "that" eine Übersetzung für "dass" ist, kommt (ganz im Gegenteil zur deutschen Regel) nie ein Komma. Es gibt zwar Situationen, wo vor "that" ein Komma kommt, aber dann wird dort "that" nicht als Übersetzung für "dass" verwendet.
Re: exercise #3Original
Dear Mr. Fuchs,
we acknowledge receipt of your letter from April 08th, 20007 and are gladly taking the opportunity to respond to your inquiries.
In simultaneous consideration of current research findings concerning this particular area of expertise, our statement will provide you with appropriate information about human resource management.
The first section will give a brief overview about topics related to motivational theories. The second part will focus on a brief comparison of the terms “job enlargement” and “job enrichment” and will be followed by a recommendation for how to enhance the level of motivation of a company's workforce.
To begin with, we would like to elucidate the term motivation, which is the set of forces that people causes to behave in certain ways. Each contract of employment is by the same token a psychological contract, consisting of both an employer's and an employee's contributions and expectations. Key issues, which must be carefully monitored, are job satisfaction of each individual worker and staff morale, representing the overall attitude of all workers.
Research in this particular scope has created various theories. Examples for this would be either Taylor's “Classical Theory of Motivation”, saying that the main source of motivation is money, or the “Hawthorne Studies”, arguing that the motivation of a staff member is straight proportional to the attention received from its supervisor. Although contemporary studies like Herzberg's "Two-Factor Theory", Maslow's "Hierarchy of Needs - model", or the "Equity
Theory" provide a more differentiated approach, motivation-theories are a field of ambiguous argumentations and inhomogeneity.
Therefore a more praxis-oriented approach might help to enlighten that confusing concern.
Motivated workforce represents the spine of a successful enterprise. The problem, condensed, is: Management can't simply buy motivated staff and, over and above, keeping staff motivated is a matter of permanent efforts. From an operational view, we would suggest to evaluate whether modified work schedules like flexitime, teleworking, or work-share programs could be a sufficient alternative to existing regulations.
One possibility to increase motivation is job enrichment. In contrast to job enlargement, which only means to accumulate a job with “more of the same”, the former represents the process of a real improvement of a job, provided through an addition of interesting and challenging tasks.
To sustainably improve the level of motivation, we advise to implement the following points:
Firstly, to select staff diligently, and secondly, to perform annual performance appraisals.
Furthermore, management should be obliged to formulate objectives together with their subordinates (collaborative goal setting and planning) and to permanently and accurately respond to positive and negative developments. Again, periodic reviews and evaluations are the keys to success.
We hope the above information proves useful to you. We look forward to an opportunity to personally discuss the position with you.
Yours faithfully
Korrektur
Dear Mr. Fuchs, We acknowledge receipt of your letter from April 08th, 20007 and are gladly taking the opportunity to respond to your inquiries.
In __ consideration of current research findings concerning this particular area of expertise, our statement will provide you with appropriate information about human resource management.
The first section will give a brief overview about topics related to motivational theories. The second part will focus on a brief comparison of the terms “job enlargement” and “job enrichment” and will be followed by a recommendation for how to enhance the level of motivation of a company's workforce.
To begin with, we would like to elucidate the term motivation, which is the set of forces that causes people to behave in certain ways. Each contract of employment is, by the same token, a psychological contract, consisting of both an employer's and an employee's contributions and expectations. Key issues___ which must be carefully monitored, are the job satisfaction of each individual worker and staff morale, representing the overall attitude of all workers.
Research in this particular scope has created various theories. Examples for this would be either Taylor's “Classical Theory of Motivation”, which states that the main source of motivation is money, or the “Hawthorne Studies”, which argues that the motivation of a staff member is directly proportional to the attention received from its supervisor. Although contemporary studies like Herzberg's "Two-Factor Theory", Maslow's "Hierarchy of Needs - model", or the "Equity
Theory" provide a more differentiated approach, motivation-theories are a field of ambiguous argumentations and inhomogeneity.
Therefore, a more practise-oriented approach might help to enlighten that confusing concern. A motivated workforce represents the spine of a successful enterprise. The problem, condensed, is: A company's management can't simply buy motivated staff and, over and above, keeping staff motivated is a matter of permanent efforts. From an operational view, we would suggest evaluating whether modified work schedules like flexitime, teleworking, or work-share programs could be a sufficient alternative to existing regulations.
One possibility to increase motivation is job enrichment. In contrast to job enlargement, which only means accumulating a job with “more of the same”, the former represents the process of a real improvement of a job, provided through an addition of interesting and challenging tasks.
To sustainably improve the level of motivation, we advise you to implement the following points:
Firstly, your company should select staff diligently, and secondly, __ perform annual performance appraisals.
Furthermore, management should be obliged to formulate objectives together with its subordinates (collaborative goal setting and planning) and to permanently and accurately respond to positive and negative developments. Again, periodic reviews and evaluations are the keys to success.
We hope the above information proves useful to you. We look forward to an opportunity to personally discuss the position with you.
Yours faithfully
Inhalt:
1) Ideal.
Sprache:
1) Der Stil ist sehr individuell (kann mir fast denken, wer hinter 11681 steckt!) und über weite strecken auch ausgezeichnet. Ich wäre an Deiner Stelle bei der DP selbst etwas weniger experimentierfreudig, nur um die höchstmögliche Punktanzahl auszuschöpfen.
2) "Dear Mr. Fuchs,
we acknowledge ": ACHTUNG: Auf Englisch wird der erste Buchstabe eines Briefes (nach Begrüßung) immer groß geschrieben.
3) "In simultaneous consideration of current research findings ": Zu dick aufgetragen: Das mögen nur 109-jährigen Briten.
4) "we advise to": Nach "advise", "enable", "inform" usw. ist es stilistisch gut, die betroffene Partei (z.B. "you", "the reader", "employees"...) zu nennen.
5) "Firstly, to select staff diligently, and secondly, to perform annual performance appraisals.": Achtung- Phrase, kein Satz (da kein Subjekt)
Re: Exercise #4Original
Dear Mr. Fuchs,
We refer with thanks to your letter of 15th March 2007 concerning the lack of motivation of your employees. We are terribly sorry that it took us so long to reply to your letter but we had to do some research to make sure that our answer is to your complete satisfaction.
The first part of this letter will define the differences between “job enlargement” and “job enrichment”. Furthermore, we will discuss the Hawthorne effect. Finally, some recommendations will be given for how your company can enhance motivation.
To start with, managers that recognise that motivation among their employees is very low and want to counter this problem can apply different methods. Two examples we want to discuss in detail are “job enrichment” and “job enlargement” which both lead to higher productivity and satisfaction as well as to a lower turnover rate. With “job enrichment” managers strive to increase motivation by adding a motivating factor like recognition, more responsibility, … to the job performed by employees. A very popular sample is job rotation meaning employees change the position after a period of time. This allows employees to understand tasks of other departments.
Generally, “job enlargement” is defined as giving employees more tasks to do. It does not necessarily lead to higher motivation. On the one hand, if employees had to perform just one single task they will be motivated by this measure because their job becomes less boring. On the other hand, at employees that had already many tasks to perform this action will lead to less motivation because they get overworked.
Formerly, experts thought that employees are merely motivated by money. Some day, Mr. Hawthorne wanted to find out what other measures lead to motivation and higher productivity. During his studies he recognised that employees produce more according to any management action. The reason for this unexpected result is that if employees receive special attention from the management they enhance their efforts. However, there are boarders for the Hawthorne theory. Managers cannot expect that they can increase motivation by continuous bad treatment because these are actions that will have the opposite effect in the long run.
This leads us to the question of how Krampf GmbH can increase motivation among its employees. The Hawthorne theory was successfully introduced in plants but we do not think that this approach fits to your company. As your company has only 35 employees we would recommend to include your staff in the decision making process. Employees would understand why some tasks must be performed and get more engaged.
We hope our recommendations and explanations are useful for you. In case you have further questions, please do not hesitate to ask. We are looking forward to hearing from you.
Yours sincerely, DaniE
Korrektur
Dear Mr. Fuchs,
We refer with thanks to your letter of 15th March 2007 concerning the lack of motivation of your employees. We are terribly sorry that it took us so long to reply to your letter but we had to do some research to make sure that our answer is to your complete satisfaction.
The first part of this letter will define the differences between “job enlargement” and “job enrichment”. Furthermore, we will discuss the Hawthorne effect. Finally, some recommendations will be given for how your company can enhance motivation.
To start with, managers that recognise that motivation among their employees is very low and want to counter this problem can apply different methods. Two examples we want to discuss in detail are “job enrichment” and “job enlargement”, which both lead to higher productivity and satisfaction as well as to a lower turnover rate. With “job enrichment”, managers strive to increase motivation by adding a motivating factor like recognition, more responsibility, … to the job performed by employees. A very popular example is job rotation, meaning that employees change their company position after a period of time. This allows employees to understand tasks of other departments.
Generally, “job enlargement” is defined as giving employees more tasks to do. It does not necessarily lead to higher motivation. On the one hand, if employees had to perform just one single task, they would be motivated by this measure because their job would become less boring. On the other hand, for employees that __ already have many tasks to perform, job enlargement would lead to less motivation because they would become overworked.
Formerly, experts thought that employees are merely motivated by money. At one point, Mr. Hawthorne wanted to find out what other measures lead to motivation and higher productivity. During his studies, he recognised that employees produce more following any management action. The reason for this unexpected result is that if employees receive special attention from the management, they enhance their efforts. However, there are borders to the Hawthorne theory. Managers cannot expect that they can increase motivation by continuous bad treatment because these are actions that will have the opposite effect in the long run.
This leads us to the question of how Krampf GmbH can increase motivation among its employees. The Hawthorne theory was successfully introduced in plants but we do not think that this approach fits to your company. As your company has only 35 employees, we would recommend including your staff in the decision making process. Employees would understand why some tasks must be performed and become more engaged.
We hope our recommendations and explanations are useful for you. In case you have further questions, please do not hesitate to ask. We are looking forward to hearing from you.
Yours sincerely, DaniE
Inhalt:
1) Eigentlich bei der Theorie bis jetzt "Best of Class". Allerdings wären ein-zwei Sätze mehr Gedankengut bei der Handlungsempfehlung günstig.
Sprache:
1) Bei theoretischen Möglichkeiten (d.h. was passieren könnte) immer den Conditional verwenden.
2) "we would recommend to include": Achtung: Nach "suggest" oder "recommend" kommt ein Gerund. Ausnahme, wenn dazwischen die betroffene Partei genannt wird, nimmt man den Infinitiv (z:b. "we would recommend including" aber "we would recommend for you to include...")
We have received your letter from March, 2nd and we are please to present our proposal regarding your questions.
As an HR manager of the Austrian industrial massage salon Krampf GmbH with 35 employees it’s really very important to find a way to motivate the people. As you are investing a lot of money in Off-the-job trainings you loose a lot of money if you have a high turnover.
To avoid these costs we will talk in this report about “job enlargement” and “job enrichment”. Furthermore we will discuss about the Hawthorne effect and how this could help you. Last I will try to give you a short suggestion how Krampf GmbH could use this new knowledge and improve the level of motivation.
To start with, Job enlargement means increasing the scope of a job through extending the range of its duties and responsibilities. This contradicts the principles of specialisation and the division of labour whereby work is divided into small units, each of which is performed repetitively by an individual worker. Thus, job enlargement seeks to motivate workers through reversing the process of specialisation. A typical approach might be to replace assembly lines with modular work; instead of an employee repeating the same step on each product, they perform several tasks on a single item. In order for employees to be provided with Job Enlargement they will need to be retrained in new fields which can prove to be a lengthy process.
Job enrichment is the process of improving work processes and environments so they are more satisfying for employees. Many jobs are monotonous and unrewarding. Workers can feel dissatisfied in their position due to a lack of a challenge, repetitive procedures, or an over-controlled authority structure. Job enrichment tries to eliminate these dysfunctional elements, and brings better performance to the workplace.
In the following I will try to give you an explanation of The Hawthorne effect. This is the result of an experiment that should examine the relationship between changes in the physical environment and workers output. The experiment failed but there was another effect. The employees increased the productivity because of the special attention from the management.
This, Mr. Fuchs could be the solution for your problems with unmotivated employees. I would suggest as a first step to introduce a performance appraisal. I’m sure this would help you to find out what every individual would like to do in the future within your company. You should define performance standards for each staff and a rating scale for providing a basis for comparison. Thus, people are involved in planning goals for the future and get attention from the management.
And as a second step I would recommend to give the people the possibility to decide by themselves how to reach the personal goals.
This process will be completed when the manager and the individual meet after some time (maybe once a year) to discuss the appraisal and to decide about promotions, demotions or maybe also to make someone redundant.
I hope the above information is useful for you and please, do no hesitate to contact me if you should require any further information or help.
Yours sincerely,
Korrektur
Dear Mr. Fuchs,
We have received your letter from March, 2nd and we are pleased to present our proposal regarding your questions.
As an HR manager of the Austrian industrial massage salon Krampf GmbH with 35 employees, it’s really very important to find a way to motivate your staff. As you are investing a lot of money in Off-the-job trainings, you lose a lot of money if you have a high turnover.
To avoid these costs, we will talk ___ about “job enlargement” and “job enrichment” in this report. Furthermore, we will discuss ___ the Hawthorne effect and how this could help you. Last, I will try to give you a short suggestion for how Krampf GmbH could use this new knowledge and improve the level of motivation.
To start with, Job enlargement means increasing the scope of a job by extending the range of its duties and responsibilities. This contradicts the principles of specialisation and the division of labour, whereby work is divided into small units, each of which is performed repetitively by an individual worker. Thus, job enlargement seeks to motivate workers through reversing the process of specialisation. A typical approach might be to replace assembly lines with modular work; instead of an employee repeating the same step on each product, they perform several tasks on a single item. In order for employees to be provided with Job Enlargement, they would need to be retrained in new fields which can prove to be a lengthy process.
Job enrichment is the process of improving work processes and environments so they are more satisfying for employees. Many jobs are monotonous and unrewarding. Workers can feel dissatisfied in their position due to a lack of a challenge, repetitive procedures, or an over-controlled authority structure. Job enrichment tries to eliminate these dysfunctional elements __ and brings better performance to the workplace.
In the following, I will try to give you an explanation of the Hawthorne effect. This is the result of an experiment that was conducted to examine the relationship between changes in the physical environment and workers' output. The experiment failed but an unexpected effect was determined. The employees increased the level of productivity because of the special attention they received from the management.
This, Mr. Fuchs could be the solution for your problems with unmotivated employees. I would suggest, as a first step,introducing a performance appraisal. I’m sure this would help you to find out what every individual would like to do in the future within your company. You should define performance standards for each staff member and a rating scale for providing a basis for comparison. Thus, people would be involved in planning goals for the future and get attention from the management.
And as a second step, I would recommend giving the people the possibility to decide by themselves how to reach the personal goals.
This process would be completed when the manager and the individual meet after some time (maybe once a year) to discuss the appraisal and to decide about promotions, demotions or maybe also making someone redundant.
I hope the above information is useful for you and please, do no hesitate to contact me if you should require any further information or help.
Yours sincerely,
Inhalt:
1) Tadellos.
Sprache:
1) Über weite Strecken hinweg brilliant. Kann mich jetzt nicht gut an die erste Übung errinern, aber mir scheint, da hat eine enorme Verbesserung stattgefunden. Toll!
2) "we will discuss about the": Nach "discuss" nie "about"
3) Bei theoretischen Möglichkeiten (siehe obige Korrektur) Conditional verwenden.
Re: Exercise 3:Original
Nowadays it’s very important for companies to do secure investment. Therefore bonds are a good solution. The US bond market is supplied by three major sources: US government bonds, municipal bonds and corporate bonds.
This report will focus on corporate bonds. First, there will be a short explanation of credit rating agencies like Moody’s. Secondly, the reader will find a description of secured bonds and debentures. Finally, the author will provide the Investfonds AG with an advice how to receive up-to-date information regarding securities and investments.
A credit rating agency (CRA) is a company that assigns credit ratings for issuers of certain types of debt obligations. In most cases, these issuers are companies, cities, non-profit organizations, or national governments issuing debt-like securities that can be traded on a secondary market. A credit rating measures credit worthiness, the ability to pay back a loan, and affects the interest rate applied to loans. The ranking goes from Aaa (highest quality, minimum risk) to C or D (very risky). This is what companies like Moody‘s or Standard & Poor‘s do.
Now the report will focus on secured bonds and debentures. Both kind of bonds are corporate bonds. Bonds have traditionally been issued with maturities ranging from 20 to 30 years and are categorized in terms of the method of interest payment or in terms of whether they are secured or unsecured. And this is the term what the author will talk about. Secured bonds are backed by pledges of assets to the bondholders and as the name already says, very secure. A debenture is usually unsecured in the sense that there are no liens or pledges on specific assets. It is however, secured by all properties not otherwise pledged. In the case of bankruptcy debenture holders are considered general creditors.
As the reader of this report can see it is really very important to be well informed about the different possibilities of Securities and Investments.
In the following, to make sure that Investfonds AG always has up-to-date information on stock and bond developments this report recommend to subscribe to a newspaper which reports the daily transaction for stocks and bonds. There the firm can already find information like highest and lowest prices paid for one share or bond during the last year. Furthermore it would make sense to engage a broker. If the company already is used to work with shares and bonds a discount broker is a good solution as these kind of brokers offer services like automated online service, such as stock research, industry analysis and screening for specific types of socks for low costs. But if the company is an uninformed investor or do not have time to keep up with all the latest developments there would be a recommendation for a full-service broker. There are companies like Merrill Lynch, which can offer clients consulting advice in personal financial planning, estate planning, and tax strategies, along with a wider range of investment products.
Korrektur
Nowadays, it’s very important for companies to make safe investments. Therefore, bonds are a good solution. The US bond market is supplied by three major sources: US government bonds, municipal bonds and corporate bonds.
This report will focus on corporate bonds. First, there will be a short explanation of credit rating agencies like Moody’s. Secondly, the reader will find a description of secured bonds and debentures. Finally, the author will provide the Investfonds AG with ___ advice for how to receive up-to-date information regarding securities and investments.
A credit rating agency (CRA) is a company that assigns credit ratings for issuers of certain types of debt obligations. In most cases, these issuers are companies, cities, non-profit organizations, or national governments issuing debt-like securities that can be traded on a secondary market. A credit rating measures creditworthiness, the ability to pay back a loan, and affects the interest rate applied to loans. The ranking goes from Aaa (highest quality, minimum risk) to C or D (very risky). This is what companies like Moody‘s or Standard & Poor‘s do.
Now the report will focus on secured bonds and debentures. Both kind of bonds are corporate bonds. Bonds have traditionally been issued with maturities ranging from 20 to 30 years and are categorized in terms of the method of interest payment or in terms of whether they are secured or unsecured. And this is the term that the author will talk about. Secured bonds are backed by pledges of assets to the bondholders and as the name already says, very secure. A debenture is usually unsecured in the sense that there are no liens or pledges on specific assets. It is however, secured by all properties not otherwise pledged. In the case of bankruptcy, debenture holders are considered general creditors.
As the reader of this report can see, it is really very important to be well informed about the different possibilities of securities and investments.
In the following, to make sure that Investfonds AG always has up-to-date information on stock and bond developments, this report recommends subscribing to a newspaper which reports the daily transactions for stocks and bonds. There the firm can already find information like highest and lowest prices paid for one share or bond during the last year. Furthermore it would make sense to engage a broker. If the company already is used to working with shares and bonds, a discount broker would be a good solution as these kind of brokers offer services like automated online service, such as stock research, industry analysis and screening for specific types of socks for low costs. But if the company is an uninformed investor or does not have time to keep up with all the latest developments,we would recommend a full-service broker. There are companies like Merrill Lynch, which can offer clients consulting advice in personal financial planning, estate planning, and tax strategies, along with a wider range of investment products.
Zwergerl, Du wächst und wächst.
Inhalt:
1) Spitze, aber ein kurzer Abschluss (1-2 Sätze) würde abrunden.
Sprache:
1) "will provide the Investfonds AG with an advice": For "advice" nie einen unbestimmten Artikel.
Re: Exercise 3:Die restlichen sieben Korrekturen kommen morgen vormittags dran (und dann neue Frage). Dann weiss ich auch den endgültigen Status bezüglich dem verlorenem Thread/Korrekturen und lasse Euch die nächsten Schritte wissen.
G'night und weiter so fleißig - bin mächtig stolz auf Euch!
Re: exercise 4 - motivationOriginal
Dear Mr. Fuchs,
thank you for your letter of April 7th 2007. According to your request, I take the liberty providing you a brief overview about motivation theories and how they could be implemented in your massage salon. I will start by discussing the differences between “job enlargement” and “job enrichment”. Secondly. I will give you an explanation about the Hawthorne theory and its effect by applying the theory. In closing, I´d like to offer you a suggestion, what steps are needed for increasing employees motivation.
To start, both “job enlargement” and “job enrichment” stand for increasing employees motivation. Although we have to differ between these two terms. First, job enlargement means, that a worker gets an additional task at the same level of responsibility. As a result, the employee won´t be bored through new challenges at work. In contrast to this, job enrichment is the term for adding one or more motivating factors to job activities. More responsibility for employees´ would be an example for this. The employee will feel himself more valueable if he has more responsibility in conducting his job.
Nowadays, human resource management becomes more and more valueable for organizations. Companies recognized, that motivated workforces contribute more to higher outputs than dissatisfied employees. Therefore, human resource managers implement motivation theories like the following one. The so-called “Hawthorne effect” started with a study of Harvard students in 1925. They researched the reaction of employees when they increased and decreased levels of light. They recognized, that workers will increase productivity if they get more attention from management. This study shows, that managers should give recognition to their employees as much as possible. As a result, both employee and employer would be satisfied.
Generally, motivated employees are one of the most valueable resources in an organization. Because motivated employees will perform their allocated tasks better than demotivated employees. If workers are completely satisfied, they will do their work as efficient as possible. As a result, productivity will be increased and companies can generate higher profits. To achieve such results, I will give you advice on how to increase your employees motivation. First, I would recommend to implement an incentive program in your company. Such programs are designed to motivate high performance. An example for this would be a pay-for-knowledge plan. This means, that employees have to learn new skills and in return they will get an extra pay for each new skill. A further factor for motivation could be a gainsharing plan. This plan offers bonuses to employees if they are able to reduce companies costs through greater work efficiency. In closing, I´d like to point out again the importance of satisfied employees. Only a satisfied employee would be able to identify with companies goals.
I hope the above information proves useful to you. Please let me know if you require any further information.
I look forward to hearing from you soon.
Yours sincerely
CEO Daisy
Korrektur
Dear Mr. Fuchs,
Thank you for your letter of April 7th 2007. According to your request, I am taking the liberty of providing you with a brief overview about motivation theories and how they could be implemented in your massage salon. I will start by discussing the differences between “job enlargement” and “job enrichment”. Secondly. I will give you an explanation of the Hawthorne theory and its effect by applying the theory. In closing, I´d like to offer you a suggestion for what steps are needed for increasing youremployees' motivation.
To start, both “job enlargement” and “job enrichment” stand for increasing employees motivation. However, we have to differ between these two terms. First, job enlargement means __ that a worker gets an additional task at the same level of responsibility. As a result, through new challenges at work, the employee won´t be bored . In contrast to this, job enrichment is the term for adding one or more motivating factors to job activities. More responsibility for employees__ would be an example for this. The employee will feel that he is more valuable if he has more responsibility in conducting his job.
Nowadays, human resource management has become more and more valuable for organizations. Companies have recognized__ that motivated workforces contribute more to higher outputs than dissatisfied employees. Therefore, human resource managers implement motivation theories like the following one. The so-called “Hawthorne effect” started with a study of Harvard students in 1925. They researched the reaction of employees when they increased and decreased levels of light. They recognized__ that workers will increase productivity if they get more attention from management. This study shows___ that managers should give recognition to their employees as much as possible. As a result, both employee and employer would be satisfied.
Generally, motivated employees are one of the most valuable resources in an organization. This is because motivated employees will perform their allocated tasks better than demotivated employees. If workers are completely satisfied, they will do their work as efficiently as possible. As a result, productivity will be increased and companies can generate higher profits. To achieve such results, I will give you advice on how to increase your employees'level of motivation. First, I would recommend implementing an incentive program in your company. Such programs are designed to motivate high performance. An example for this would be a pay-for-knowledge plan. This means___ that employees would have to learn new skills and in return they would get __ extra pay for each new skill. A further factor for motivation could be a gainsharing plan. This plan offers bonuses to employees if they are able to reduce company costs through greater work efficiency.
In closing, I´d like to point out again the importance of satisfied employees. Only a satisfied employee is able to identify himself/herself with companies goals.
I hope the above information proves useful to you. Please let me know if you require any further information.
I look forward to hearing from you soon.
Yours sincerely
CEO Daisy
Inhalt:
1)Bestens
Sprache:
1) Es sind zwar Grammatikfehler vorhanden, aber Deine grundsätzliche Satzstruktur ist ausgezeichnet.
2) "increasing employees motivation": Wenn man allgemein von "Mitarbeitermotivation" spricht, wäre es "employee motivation". Wenn es hingegen konkret um die Mitarbeiter eines bestimmten Unternehmens geht, dann nimmt man einen Possessive (in diesem Fall "your employees' motivation").
3) "Although we have to differ between these two terms.": Würde bedeuten: "Obwohl wir zwischen beiden Begriffen unterscheiden müssen." und wäre damit kein vollständiger Satz. Du willst hier glaube ich eher "However" bzw. "Nonetheless"/"In spite of this".
4) "means, that": Der Klassiker - kein Komma vor "that", wenn als Übersetzung für "dass". Passiert in dem Text ein paar Mal, d.h. bei DP nacher besser nachchecken (bei allen "that"- wurden sie als Übersetzung für dass verwendet? Wenn ja, ist ein Komma davor? Wenn ja, Komma streichen)
5) "Because motivated employees will perform their allocated tasks better than demotivated employees.": Wäre kein vollständiger Satz ("Weil motivierte Mitarbeiter die ihnen zugeteilten Aufgaben besser bewältigen als nichtmotivierte Mitarbeiter.") Dieses Risiko besteht immer, wenn "Because" zu Beginn eines Satzes steht. Repariert man mit einem kurzen "This is".
Re: Exercise 4Original
Dear Mr. Fuchs,
We acknowledge receipt of your letter of May 2nd. In reply to your inquiry, we will give you an overview of motivation as a tool of modern Human Resource.
First we will outline the definitions for the terms job enlargement and job enrichment. Thereafter we will tell you about the Hawthorne effect and it´s useful ideas concerning motivation of employees. In closing we will provide you with all the essential infomation as to how to motivate your employees.
These days a lot of different terms concerning modern theories of job motivation can be found in newspaper articles or business magazines. Two of the most common are, job enrichment and job enlargement. HR department is well-advised to concentrate on job enrichment, which refers to a modification of current tasks or simply to add motivation factors. The goal is to motivate the employee by letting him or her work on something new and/or more challenging. Unlike the term job enlargement, which refers to more work during the same period of time. Very often HR managers confuse a lack of motivation with too less work.
The Hawthorne effect is the result of a study which took place in 1925 and was conducted by a group of Havard researchers. They found out that increased lighting levels as well as lower light level increase productivity. Having noticed this the group of researchers concluded that productivity is a response to the attention employees are receiving.
All in all, therefore paying attention to employees plays a crucial role in the motivation process. There are different kind of motivation theories namely, Maslow´s hierarchy of needs, the two-factor theory of Herzberg or the expactancy theory. According to Herzberg only hygiene factors, such as recognition, the work itself or responsibility lead to satisfaction. That is why we recommend you examining the current situation of you employees. The goal is to get in contact with them in order to gather relevant information. To begin with we suggest you to implement systematic rewards and punishments as to alter your workers´ behavior. At the same time your employees should be given a chance to receive direct feedback from your clients. This is said to be one of the most important motivation tools.
In summery we want to stress the fact that a good relationship with your employees plays a crucial role for motivating them. According to job enrichment the content of a job as well as paying attention to your employees is highly recommendable. We hope that above mentioned information provides useful to you. Our team will be available to answer any questions that may araise in connection with this report.
Yours faithfully,
Korrektur
Dear Mr. Fuchs,
We acknowledge receipt of your letter of May 2nd. In reply to your inquiry, we will give you an overview of motivation as a tool of modern human resource management.
First we will outline the definitions for the terms job enlargement and job enrichment. Thereafter, we will tell you about the Hawthorne effect and its useful ideas concerning motivation of employees. In closing, we will provide you with all the essential infomation as to how to motivate your employees.
These days a lot of different terms concerning modern theories of job motivation can be found in newspaper articles or business magazines. Two of the most common are__ job enrichment and job enlargement. An HR department is well-advised to concentrate on job enrichment, which refers to a modification of current tasks or simply to an addition of motivation factors. The goal is to motivate the employee by letting him or her work on something new and/or more challenging. This concept is unlike job enlargement, which refers to more work during the same period of time. Very often HR managers confuse a lack of motivation with too little work.
The Hawthorne effect is the result of a study which took place in 1925 and was conducted by a group of Havard researchers. They found out that increased lighting levels as well as lower light level increase productivity. Having noticed this, the group of researchers concluded that productivity is a response to the attention employees are receiving.
All in all, therefore, paying attention to employees plays a crucial role in the motivation process. There are different kind of motivation theories, namely__ Maslow´s hierarchy of needs, the two-factor theory of Herzberg or the expactancy theory. According to Herzberg, only hygiene factors, such as recognition, the work itself or responsibility lead to satisfaction. That is why we recommend for you to examine the current situation of your employees. The goal is to get in contact with them in order to gather relevant information. To begin with, we suggest for you to implement systematic rewards and punishments so as to alter your workers´ behavior. At the same time, your employees should be given a chance to receive direct feedback from your clients. This is said to be one of the most important motivation tools.
In summary, we want to stress the fact that a good relationship with your employees plays a crucial role in motivating them. According to job enrichment, the content of a job as well as paying attention to your employees is highly recommendable.
We hope that the above mentioned information prove useful to you. Our team will be available to answer any questions that may arise in connection with this report.
Yours faithfully,
Inhalt:
1) Bestens
Sprache:
1) Hier gilt das selbe wie bei der vorigen Korrektur- es sind zwar Grammatikfehler, aber der insgesamte Stil/die Satzstruktur sind ausgezeichnet.
2) "HR department is well-advised to": Entweder "HR departments are well-advised to..." oder "An HR department is well-advised to..." ("An" statt "A" wegen der Aussprachregel - "aich arr" für "HR").
3) "Unlike the term job enlargement, which refers to more work during the same period of time.": Kein vollständiger Satz.
4) " namely, Maslow´s": "Namely" immer gerne willkommen, Komma aber davor, nicht danach.
5) "we recommend you examining": Grundsätzlich hast Du recht: Nach "recommend"/"suggest" kommt Gerund (z.B."we recommend examining"). Wenn dazwischen allerdings die angesprochene Partei steht, dann ist es Infinitiv.
Re: BC 1 Letter Exercise Motivation
As I signed in yesterday I couldn't see your topics so I wrote one you've once sent by e-mail... hope that's okay..
As an HR consultant at Soft Is Better Than Hard GmbH, you have been contacted by Austrian telecoms company DialCom AG. DialCom has 20,000 employees and is facing difficulties due to low employee job satisfaction. Because of this, the management board of DialCom has contacted your company.
You have been asked by your boss to write a business letter that should cover the following points:
• Definition of job satisfaction
• Comparison of the HR motivation theories known as the “equity theory” and the “expectancy theory”
• A suggestion for how DialCom could increase the level of employee job satisfaction over the next twelve months.
Dear Ladies and Gentlemen,
Thank you for your letter of May 4th concerning your problems with your employees’ job satisfaction. In reply to your request, I’m sending you some information about this and related topics. First, I will define the term “job satisfaction”. After that I am going to discuss the differences between two well known HR motivation theories namely “expectancy theory” and “equity theory”. Finally I would like to suggest some possibilities how you could increase job satisfaction among your employees.
Job satisfaction is according to Ebert/Griffin the degree of enjoyment employees derive from doing their jobs. If job satisfaction among employees is high they are also willing to work harder as they are more motivated. This also leads to a lower staff turnover which, eventually, helps to reduce and avoid unnecessary costs for searching new employees.
There are many theories about how to motivate people and many scientists who claim to know what kind of things best motivate employees. I would like to give you now some detailed information about two of them. While the equity theory claims that people compare their ratios of their input to their output with ratios of others the expectancy theory states that people will do things only if they believe that they are able to do it and get something rewarded that is of value for them. Following the equity theory employees can reach one of three results. First they can believe that their ratio is higher than, second, lower than, or third, equal to someone else’s ratio. Either this leads to dissatisfaction or even frustration or it results in a change in the employee’s thinking. The person could change his or her input and could work less or harder. Yet, it would also be possible that another ratio is used to compare with. On the other hand in expectancy theory follow three steps of a decision making process. First the employee asks herself whether she is able to perform the task. Second, she wants to know if she gets something in return. Finally it is proven if the reward is of value for the person. If all these questions are answered with “yes” then the employee is likely to perform the job.
As you can see there are different ways how people are motivated and therefore it is important to know and understand how employees make their decisions. I would suggest implementing a system of reinforcement. That is, paying rewards for favourable behaviour. Another way to increase job satisfaction would be establishing a flexitime system so employees can plan their time more independently. Furthermore there would be the possibility of management by objectives. This is a strategy of setting goals in cooperation with the employees. This requires defining companywide objectives and then there should be a communication process in which the employees are asked how in their opinions these goals could be achieved in the most effective way.
In conclusion there are many ways how employees can be motivated and the job satisfaction among them is high.
I hope this information turns out to be useful for you. If any questions arose do not hesitate to ask me. You can reach me under this e-mail address.
I look forward to hearing from you.
Yours faithfully
Referring to your letter of 5th of April concerning your plans to increase economic growth I will try to give your some explanations and hints. Thank you for contacting me. I will do my best to answer your question and to give some ideas, how higher economic growth could be reached. If you have any questions left please do not hesitate to contact me.
First of all I will give you’re a brief overview of what fiscal policy is. After that I will compare the economic indicators “gross domestic product” and “gross national product”. The difference between these two indicators and the importance of each of them will also be explained. Finally I will give a suggestion which steps should be taken to promote higher economic growth.
The fiscal policy defines rules and regulations which affect the economy. In contrary to the monetary policy, which regulates the money supply, the fiscal policy mainly is focussed on regulating taxes and government spending. By raising taxes for example it is possible to slow down the economic growth. In contrast decreasing taxes leads to higher economic growth. Government Spending policies also have a main influence on the economic growth. By spending more money it is possible to encourage companies to invest and therefore government spending can also stimulate economic growth.
The two economic indicators “gross domestic product” and “gross national product” are often mentioned but the difference is not always clear. Where gross domestic product means the value of goods and services produced within a country’s borders by an economy during a given time period (in most cases one year). The gross national product – in addition to the GDP – also includes values produced within the country by using foreign factors of production. [[?]]
Applying these theories to the situation of Austria to promote higher economic growth it would be either necessary to reduce taxes or to increase government spending. In case of Austria monetary policy actions cannot be taken because of the restrictions given by the European Central Bank. Because of this fact fiscal policy measures are the only actions which can be taken.
Reducing taxes leads to an increase in investments and non-government spending in the long run. Increasing government spending can lead to an immediate increase in economic growth. The second option is usually more expensive and has fewer effects in the long run. In addition to attract foreign investors tax cuts should be the preferred method. All over all it is important to state that both measures shouldn’t lead to a significant increase in country’s debts.
To give some outlook to the future it will become more and more important to maintain a low taxation level to remain competitive. As this is in some contrast to the goal of increasing government spending it is important to invest into areas, which also attract more capital from private investors and therefore lead to a significant increase in investments.
With kind regards,
Korrektur
Dear Ladies & Gentlemen,
Referring to your letter of 5th of April concerning your plans to increase economic growth, I will try to give your some explanations and hints. Thank you for contacting me. I will do my best to answer your question and to give some ideas for how higher economic growth could be reached. If you have any questions left, please do not hesitate to contact me.
First of all I will give you’re a brief overview of what fiscal policy is. After that I will compare the economic indicators “gross domestic product” and “gross national product”. The difference between these two indicators and the importance of each of them will also be explained. Finally, I will give a suggestion for which steps should be taken to promote higher economic growth.
The fiscal policy defines rules and regulations which affect the economy. In contrast to the monetary policy, which regulates the money supply, the fiscal policy mainly is focussed on regulating taxes and government spending. By raising taxes, for example, it is possible to slow down the economic growth. In contrast, decreasing taxes leads to higher economic growth. Government spending policies also have a central influence on the economic growth. By spending more money, it is possible to encourage companies to invest and therefore, government spending can also stimulate economic growth.
The two economic indicators “gross domestic product” and “gross national product” are often mentioned but the difference is not always clear. Where gross domestic product means the value of goods and services produced within a country’s borders by an economy during a given time period (in most cases one year), the gross national product refers to the value of goods and services produced by a country's citizens and companies, regardless of where they are located.
In order to apply these theories to the situation of Austria to promote higher economic growth, it would be either necessary to reduce taxes or to increase government spending. In case of Austria, monetary policy actions cannot be taken because of the restrictions given by the European Central Bank. Because of this fact, fiscal policy measures are the only actions which can be taken.
Reducing taxes leads to an increase in investments and non-government spending in the long run. Increasing government spending can lead to an immediate increase in economic growth. The second option is usually more expensive and has fewer effects in the long run. In addition, to attract foreign investors, tax cuts should be the preferred method. All in all, it is important to state that both measures shouldn’t lead to a significant increase in a country’s debts.
To give some outlook to the future, it will become more and more important to maintain a low taxation level to remain competitive. As this is in a certain contrast to the goal of increasing government spending, it is important to invest into areas__ which also attract more capital from private investors and therefore lead to a significant increase in investments.
With kind regards,
Inhalt:
1) "GNP" nicht richtig (war aber auch nicht in Eurer Ausgabe), ansonsten perfekt.
Sprache:
1) "If you have any questions left, please do not hesitate to contact me. ": Würde man eher in die Conclusio als ins Intro eines Briefes geben.
2) "In contrary to": Achtung: Die Phrase lautet "In contrast to". Es gibt zwar sehr wohl "On the contrary", aber das bedeutet "Im Gegenteil" und nicht "Im Gegensatz zu".
3) "have a main influence on": Ist nicht falsch und ich würde bei der DP nie Punkte abziehen, aber "have a central/significant/key influence" sind alle stilistisch wesentlich besser.
4) "Where gross domestic product means the value of goods and services produced within a country’s borders by an economy during a given time period (in most cases one year).": Achtung- aufgrund von "where" kein vollständiger Satz. Wenn Du mit Komma zum nächsten Teil verbindest, ist alles gut.
Re: Another report - Exercise 3Original
During the last few years the number of private investors increased sharply. Investment possibilities like stocks, bonds and of course investment funds became very attractive and became very common as alternative to other saving possibilities. Fund Mangers like Investfonds AG are managing huge amounts of these private investments because of the lack of experience and time of these usually low amount investments. This report will discuss some important aspects of investments and will give suggestions to Investfonds AG on how to keep up-to-date with information on stock and bond developments.
First of all this report will briefly explain the function of agencies like Moody’s and Standard & Poor’s. After that the most significant differences between secured bonds and debentures will be shown. Finally this report will try to show, how Investfonds AG could make sure to have always the most up-to-date information on stock and bond developments.
One of the most important questions in terms of Investment is to assess how much a company can be trusted to be able to pay back money invested into it. This is especially important for bonds but is also true for common stock. Rating Agencies like Moody’s and Standard & Poor’s try to assess a company’s financial background and issue a rating based on the information they have about a company. This rating shows how risky an investment seems to be from the point of view of the rating agency. For example a AAA (Triple-A) Rating means that a company, a county’s government or even a municipality is most creditworthy. In contrast a CCC Rating is quite worse. Even tough – for example in the area of bonds - the interest rates for these so called junk-bonds is much higher than for others they may not be worth the risk of loosing all the money.
In the area of bonds the difference between secured bonds and debentures is also quite important. A secured bond is backed by some kinds of assets whereas a debenture is not backed by something special. Therefore debentures are used more commonly by financially strong firms – like the US plane-manufacturer BOEING. Secured Bonds provide more security to the investor with the side effect of lower interest rates.
In the Investment Business it is very important to always have the most up-to-date information on stock and bond developments. Today this became quite easy because of the internet. Many stock exchanges and even brokerage firms provide real time information on stocks and bond developments. A seamless integration into Investfonds AG’s IT systems seems to be necessary. The author suggests that Investfonds AG should have several information providers available for security reasons. Availability is very important because not knowing about the latest facts and figures could cost a lot of money.
To conclude all things considered knowledge about the latest developments is one of the most important assets of an investment company. Rating agencies can help with there experience but these information should only be a part of the facts considered when investing into certain stocks or bonds.
Korrektur
During the last few years, the number of private investors has increased sharply. Investment possibilities like stocks, bonds and of course investment funds became very attractive and became very common as alternatives to other saving possibilities. Fund managers like Investfonds AG manage huge amounts of these private investments because of the lack of experience and time of these usually low amount investments. This report will discuss some important aspects of investments and will give suggestions to Investfonds AG on how to keep up-to-date with information on stock and bond developments.
First of all, this report will briefly explain the function of agencies like Moody’s and Standard & Poor’s. After that, the most significant differences between secured bonds and debentures will be shown. Finally, this report will try to show__ how Investfonds AG could make sure to always have the most up-to-date information on stock and bond developments.
One of the most important issues in terms of investment is to assess how much a company can be trusted to be able to pay back money invested into it. This is especially important for bonds but is also true for common stock. Rating agencies like Moody’s and Standard & Poor’s try to assess a company’s financial background and issue a rating based on the information they have about a company. This rating shows how risky an investment seems to be from the point of view of the rating agency. For example, a AAA (Triple-A) rating means that a company, a county’s government or even a municipality is most creditworthy. In contrast, a CCC Rating is significantly worse. Even though – for example in the area of bonds - the interest rates for these so called junk-bonds is much higher than for others, they may not be worth the risk of losing all the money.
In the area of bonds, the difference between secured bonds and debentures is also quite important. A secured bond is backed by some kinds of assets whereas a debenture is not backed by any particular asset. Therefore, debentures are used more commonly by financially strong firms – like the US plane-manufacturer BOEING. Secured bonds provide more security to the investor with the side effect of lower interest rates.
In the investment business, it is very important to always have the most up-to-date information on stock and bond developments. Today, this has become quite easy because of the internet. Many stock exchanges and even brokerage firms provide real time information on stocks and bond developments. A seamless integration into Investfonds AG’s IT systems seems to be necessary. The author suggests that Investfonds AG should have several information providers available for security reasons. Availability is very important because not knowing about the latest facts and figures could cost a lot of money.
To conclude, all things considered, knowledge about the latest developments is one of the most important assets of an investment company. Rating agencies can help with their experience but this information should only be a part of the facts considered when investing in certain stocks or bonds.
Inhalt:
1) Spitze.
Sprache:
1) Insgesamt auch sehr solide. Eher Klitze-Kleinigkeiten bei Dir. Der 1er steht absolut im Raum, Du musst bei der Prüfung nur sehr darauf achten, Flüchtigkeitsfehler bei der Nachkorrektur zu erkennen.
2) "One of the most important questions in terms of investment is to assess how much a company can be trusted to be able to pay back money invested into it.": Hier passt "questions" nicht ideal, da Du ja keine direkte Frage formulierst. Es wäre zwar Grenzfall-ok, aber schöner wäre hier z.B. "issues"
3) "is quite worse": Unmittelbar nach "quite" passt kein Comparative. Entweder "is quite bad/low/risky" usw. oder "is considerably worse"/"is a great deal worse".
4) "these information": Es ist zwar grammatikalisch richtig - würde auch keine Punkte abziehen - aber kein Normalsterblicher sagt je "these information". "This information" oder "these pieces of information" sind eher die Norm.
Re: Exercise #1Original
Ethics plays an important role in business life nowadays. Managers have to decide whether they want to do business according to ethical guidelines or not.
This report is going to explain the terms “insider trading” and “whistle blower”. The author will also define the term “collusion”. In the last part of this report the author will suggest how Prost AG could limit unethical behavior on all management levels.
Insider trading is a form of improper financial management and is illegal. It occurs when somebody uses special knowledge or confidential information about a company for profit or gain.
If a company develops an innovative and pioneering product, enormous future profits are in all probability. Because mangers or employees assume that the stock price of company’s shares will increase they could buy them at a low price and sell them after the successful product introduction at a higher price. Purchasing or selling stocks is only legal on the basis of public information, or in other words, information that is available to all investors.
In the next paragraph, the author is going to explain the term “whistleblower”. If an employee discovers unethical or illegal behavior in a company, he should be able to report this problem to higher-level management. However, many employees get problems with their employers when they try to stop questionable practices. Sometimes these employees feel impelled to make these practices public. At this point they become whistleblowers. Unfortunately, whistleblowers are sometimes laid-off when they try to get help from the public.
Another substantial term in the context of ethics is “collusion”, which is a form of unfair pricing. Collusion is an illegal agreement between two or more companies to commit wrongful acts as price fixing or price gouging.
Companies could equal supply and prices for their products, which would be an example for price fixing.
If companies are confronted with overwhelming demand, they could respond with an enormous increase in prices. This situation is called price gouging.
In the last part of this report, the author is going to suggest how Prost AG could manage social responsibility on all levels of management.
First of all, the author wants to emphasize that social responsibility and ethical behavior must start at top-level management. Ethical behavior has to be a factor already considered in the strategy planning process.
The author suggests compiling a team responsible for ethics and social responsibility.
This team prepares ethical guidelines, which have to be valid for the entire company. To ensure that these guidelines are met, success has to be audited by the team or a single team member.
Furthermore, the team could develop a plan or program consisting of different projects which contribute to the improvement of ethical behavior.
These steps should help Prost AG to behave ethical towards their stakeholders and to consequently take steps to foster a companywide sense of social responsibility.
Korrektur
Ethics plays an important role in business life nowadays. Managers have to decide whether they want to do business according to ethical guidelines or not.
This report is going to explain the terms “insider trading” and “whistle blower”. The author will also define the term “collusion”. In the last part of this report, the author will suggest how Prost AG could limit unethical behavior on all management levels.
Insider trading is a form of improper financial management and is illegal. It occurs when somebody uses special knowledge or confidential information about a company for profit or gain.
If a company develops an innovative and pioneering product, enormous future profits are in all probability. Because mangers or employees assume that the stock price of company’s shares will increase, they could buy them at a low price and sell them at a higher price after the successful product introduction ___. Purchasing or selling stocks is only legal on the basis of public information, or in other words, information that is available to all investors.
In the next paragraph, the author is going to explain the term “whistleblower”. If an employee discovers unethical or illegal behavior in a company, he should be able to report this problem to higher-level management. However, many employees get problems with their employers when they try to stop questionable practices. Sometimes, these employees feel compelled to make these practices public. At this point they become whistleblowers. Unfortunately, whistleblowers are sometimes laid-off when they try to get help from the public.
Another substantial term in the context of ethics is “collusion”, which is a form of unfair pricing. Collusion is an illegal agreement between two or more companies to commit wrongful acts such as price fixing or price gouging.
Companies could agree on supply and prices for their products, which would be an example for price fixing.
If companies are confronted with overwhelming demand, they could respond with an enormous increase in prices. This situation is called price gouging.
In the last part of this report, the author is going to suggest how Prost AG could manage social responsibility on all levels of management.
First of all, the author wants to emphasize that social responsibility and ethical behavior must start at top-level management. Ethical behavior has to be a factor already considered in the strategy planning process.
The author suggests compiling a team responsible for ethics and social responsibility.
This team should prepare ethical guidelines, which have to be valid for the entire company. To ensure that these guidelines are met, success has to be audited by the team or a single team member.
Furthermore, the team could develop a plan or program consisting of different projects which contribute to the improvement of ethical behavior.
These steps should help Prost AG to behave ethically towards their stakeholders and to consequently take steps to foster a companywide sense of social responsibility.
Re: Report Exercise 1
What is unethical behavior and how can companies deal with it? The following report will discuss some unethical practises and give a suggestion of how a company like Prost AG could reduce unethical behavior.
First, I will give an overview of what is defined as unethical behavior , and, in this case, explain the term “insider trading”. Secondly, I will define the term “whistle blower”, as one form of ethical commitment. Afterwards, I would give a brief overview of the term “collusion”. Finally, and most importanty, I will give a suggestion for what steps Prost AG could take to limit unethical behavior on all management levels.
According to Griffin/Ebert, unethical behavior is behavior, that does not conform to generally accepted social norms concerning beneficial and harmful actions. Insider trading is the illegal practice of using special knowledge about a firm for profit or gain. On the one hand, it ist the use of confidential information to gain from the purchase or sale of a company’s stocks. On the other hand, informed executives can avoid financial loss by selling stock that’s about to drop in value.
In contrast, whistle blowers are employees, who detect and try to put an end to a company’s unethical, illegal or socially irresponsible actions by making them public.
To move on, I will now give a brief definition of the term “collusion”. As we all know, responsibility toward customers is very important for a company because without it the customers would lose their trust in the company.
One method which many companies use is collusion. As collusion we understand an illegal agreement between two or more companies to commit a wrongful act like price fixing.
In regards to the above mentioned information, I will now give a suggestion for how Prost AG can implement a corporate social responsibility (CSR) program , and, in a row, could reduce unethical behavior in their company to a minimum.
Firstly, I would advise Prost AG to set up a code of conduct and develop clear ethical positions on how the firm and its employees will conduct business. This code of conduct should include rules of how business can be done in an ethical manner. Prost AG could also implement ethics programs, where managers of all levels have to go through periodic ethics trainings to remind them of the importance of ethical decision making and to update them on the must current laws and regulations.
In the special case of Prost AG, these ethics programs would be the best way to minimize unethical behavior on all management levels, because they are specially designed for every management level. Top managers, as well as first-line managers get to know ethical behavior especially for their purposes.
All in all, implementing these systems Prost AG it would make a big step forward towards a company with ethical behavior. Bearbeitet von: barbarella007 am: 4/12/07 9:18
We would like to thank you for your letter of March, 10th in which you wrote that you are interested in increasing economic growth. In response to your questions and request for appropriate steps that could be taken, we would like to briefly outline various concepts and theories concerning higher economic growth. First, we are going to describe the term of “fiscal policy”. After that, we will go into detail about differences of the economic indicators GDP and GNP. Finally we would like to offer advice on how to deal with promoting higher economic growth.
Fiscal policy is the economic term that defines the set of principles and decisions of a government in setting the level of public expenditure and how that expenditure is funded. Fiscal policy and monetary policy are the macroeconomic tools that governments have at their disposal to manage the economy. Fiscal policy is the deliberate and thought out change in government spending, government borrowing or taxes to stimulate or slow down the economy. It contrasts with monetary policy, which describes the policies about the supply of money to the economy.
This brings us to two ways for measuring the size of its economy. First there will be an explanation of GDP and secondly a short overview of what is the difference to the GNP.
Thus the Gross Domestic Product of a country is defined as the market value of all final goods and services produced within a country in a given period of time. It is also considered the sum of value added at every stage of production of all final goods and services produced within a country in a given period of time. The Gross National Product, as opposed to the GDP, is the total value of all final goods and services produced by the countries citizens regardless of where they are located and sold on the market in a given time period.
This brings us to the question of how to promote higher economic growth? Economic growth is the increase in value of the goods and services produced by an economy. It is conventionally measured as the percent rate of increase in real GDP. We would recommend to decrease unemployment in Austria. As more people are employed, the amount of capital increases, education levels increase, the quality of capital changes, or the technology increases, the productive capacity of the economy increases. Therefore, the economy can increase its output giving consumers more disposable income, promoting an increase in consumption spending, and providing resources for business to use for further investment and government to use to provide public goods and services.
Increased labor force participation increases output. Expanded, improved education creates more productive workers. Business and government spending on research and development enhance our abilities to produce and allow each worker to become more productive, increasing incomes for all. Finally, to achieve a higher level of GDP in the future, consumers need to limit consumption spending and increase savings today, permitting businesses to invest more in capital goods. If resources are invested into building an economy now, future generations will enjoy a higher level of economic growth; our businesses will produce more goods and consumers can purchase more goods. Expansion of output at rates faster than our population growth is what gives us the opportunity to enjoy higher standards of living.
We hope that the above information will prove useful to you and that our suggestions are able to contribute your plans. If you need any further information, please don’t hesitate to contact us again. We would like to wish you good luck for your plans to increase economic growth.
Thank you for your letter of April 9th concerning your plans to increase economic growth in Austria. In connection with your inquiry I am going to explain the term “fiscal policy” in the first part of this letter. Furthermore, I will discuss the two economic indicators “gross domestic product” and “gross national product”. I will also include a few suggestions for how economic growth could be increased at the end of the letter.
As mentioned before, I will start by explaining the importance and function of fiscal policy. In general, fiscal policies are economic policies that determine how a government collects and spends its revenue. One method to increase revenues is to increase taxes. This action also helps the government to manage the country’s economy. To increase economic growth, many countries decide to lower taxes in order to motivate companies and consumers to invest and buy more. In consequence of this, economy will hopefully start to grow.
In order to measure the success of fiscal policies economic indicators are needed. The first one, the gross domestic product (GDP), refers to the value of goods and services produced by a country within a certain period. The GDP is a measure of aggregate output. In general it can be said that if aggregate output is going up, the nation is experiencing economic growth.
It is necessary to adjust the GDP for inflation and exchange rate changes to get the real growth rate which is more representative than the nominal GDP.
To reflect the standard of living of a country’s citizens, it is common to calculate the country’s GDP per capita. This figure is calculated by dividing the total GDP by total population. The GDP per capita represents the economic well-being of the average person better than the total GDP.
Another indicator of economic growth is the GNP or gross national product. The gross national product includes the GDP and additionally the net income from assets abroad, or in other words any income earned by residents from overseas investments, minus income earned within the domestic economy by overseas residents.
As announced at the beginning of this letter, I will now make a few proposals how to experience a higher economic growth.
First of all, I want to emphasize that economic growth is depending on technological innovations, qualified labor and capital.
For this reasons, I regard the education system in a country as an extremely important factor. The better educated Austrian citizens are, the more they can produce. Educated people are highly productive and are able to develop innovations which again will increase productivity and output.
Taxes should be set with care, because they influence companies in the decision whether to invest in capital goods or not.
It is necessary to motivate people to purchase goods and services because then companies will produce more.
Naturally the area of economic growth is a very complex one and many economists are still trying to find an answer to the question of how to raise the economic growth rate.
Nevertheless, I hope that the above information proved useful to you.
Please do not hesitate to contact me if you should require further information.
ethics
Nowadays ethics play an important role in business life. That is the raison why ethic guidelines in companies becoming necessary.
First of all, I would like to explain the terms insider trading and whistle blower. Thereafter I would like to give a definition of the term collusion. In the last part of this report I will give suggestions for limiting unethical behaviour in the case of Prost AG.
Firstly, I would like to give an explanation of insider trading. According to Ebbert/Griffin insider trading is an illegal practice oft using special knowledge about a firm for profit or gain. The following example will help to illustrate this term. For example a small firm’s stock is currently traded at 50€ a share. If a larger firm is going to buy the smaller firm, the share of the small firm might raise to 75€ a share. Somebody who knew about the purchase oft the small firm can buy shares at the price of 50€ and sell them at the price of 75€. As you can see the person will make a profit of 25€ per share. The raison for this is that he had information about the purchase. This example shows clearly and precisely what insider trading is.
Secondly, I would like to define what a whistle blower is. A whistle blower is an employee who detects and tries to put an end to a company’s unethical actions by publicizing them. The employee might inform a regulatory agency or the media about the incorrect social behaviour of the company. Whistle blowers are often demoted or even fired when they take their charge public.
The next part answers the question what collusion is. Collusion is one tactic of illegal pricing practices. It takes place when two or more companies agree to collaborate on such wrongful acts as price fixing. But price fixing not the only illegal pricing practices there is also price gouging. The term price gouging refers to the phenomena of sharply rising prices of items in high demand. An example for this would be the PT Cruiser of Daimler Chrysler. As the launched the car in 2000, the demand for it was so strong that some dealers sold them only to customers willing to pay thousands of dollars over the sticker price.
In the last part of the report I would like to give suggestions for Prost AG.
The first important fact is that ethical behaviour must start at the top-level management. A good idea would be to prepare a handbook with guidelines for ethical behaviour. Each employee should receive an example of this handbook. In complicate situations he or she can have a look at this handbook. Projects, workshops or events might also help to implement ethical behaviour in the company.
These suggestions might help to eliminate unethical behaviour and to introduce ethical behaviour at Prost AG. Bearbeitet von: FHIW am: 4/11/07 21:11
As an external consultant that specializes in business organizations, you have been contacted by the newly founded Austrian insurance company Sicher AG. It wants to decide on an organizational structure and the CEO has asked you for help.
You have been asked to prepare a short business letter that should cover the following points:
• A definition of the term "organizational chart"
• Brief distinction between the three forms of company authority
• A suggestion for how Sicher AG could organize its employees in order to minimize bureaucracy.
Please make sure not to use lists, bullets, tables, or diagrams in your report (i.e. write full sentences) and compose the report to a length of approximately 500 words
(+/-10%). You are free to invent any additional information that you wish.
Re: Ex#4 motivation (chapter9)Original
Dear Mr. Fuchs,
in reply to your inquiry of 26 of March 2007 we are pleased to provide you with the following information.
As you have already noticed, today it is very important to focus on employee´s and worker´s job satisfaction, because human capital could be a very cost intensive production factor. So we are glad to provide you with some ideas of how you can increase motivation and job satisfaction of your workers.
First, we inform you about job enrichment and job enlargement which both are methods of increasing job satisfaction. Second, we give you a brief explanation about the Hawthorne effect – one of the 3 major approaches of human relations in the workplace. Last, we provide you with a suggestion of how to improve the level of motivation of your employees.
As I have already mentioned above, job enrichment and job enlargement are strategies of improving job satisfaction.
Job enrichment is a method which allows employees to do the same job as before, but add one or more motivating factors to job activities. One of these motivating factors could be to give your employees the opportunity planning their own schedules.
Job redesign is a method which tries to design a job which fits the workers wants and needs.
There are three possible ways of redesigning a job. First you can combine different tasks to enlarge jobs. Second you could form natural work groups among your employees.
And, last you can allow employees establishing client relationships to give them the feeling to be responsible for customer satisfaction.
Now I would like to give a brief explanation about the Hawthorne effect. The Hawthorne effect is one of the three major motivation theories. Researches wanted to increase the productivity of workers, so they changed work conditions, like the light level or the temperature in the workplace, and found out, that workers were more motivated.
The result of these experiment shows that employees can be motivated with paying more attention to them. You have to treat your employees like individuals with their wants and needs, and not like machines.
I would suggest following steps to improve the level of motivation within your workforce.
First you should allow your employees to have control over their own schedule. As I mentioned above this is the method of job enrichment. It is very important to give employees the control over the way of doing their job and give them the opportunity to work more flexible. Furthermore, you should focus on establishing worker – client – relationships. If your employees get positive feedback from their clients they will be more motivated. Additionally, you could offer a performance bonus for employees who perform very well. But it is really important that this bonus is directly linked with the performance, otherwise it has no effect on motivation improvement.
Hopefully these suggestions could help you to improve motivation among your workforce.
I look forward to hearing from you.
Best regards, P
Korrektur
Dear Mr. Fuchs,
In reply to your inquiry of 26 of March 2007, we are pleased to provide you with the following information.
As you have already noticed, today it is very important to focus on employees' and workers´ job satisfaction, because human capital is a very cost intensive production factor. So we are glad to provide you with some ideas for how you can increase the level of motivation and job satisfaction of your workers.
First, we inform you about job enrichment and job enlargement, which both are methods of increasing job satisfaction. Second, we give you a brief explanation of the Hawthorne effect – one of the 3 major classic motivation studies. Last, we provide you with a suggestion for how to improve the level of motivation of your employees.
As I have already mentioned above, job enrichment and job enlargement are strategies for improving job satisfaction.
Job enrichment is a method which allows employees to do the same job as before, but adds one or more motivating factors to job activities. One of these motivating factors could be to give your employees the opportunity to plan their own schedules.
Job redesign is a method which tries to design a job which fits the workers' wants and needs.
There are three possible ways of redesigning a job. First you can combine different tasks to enlargen jobs. Second you could form natural work groups among your employees.
And, last you could allow employees to establish client relationships to give them the feeling of being responsible for customer satisfaction.
Now, I would like to give a brief explanation of the Hawthorne effect. The Hawthorne effect has led to the development of one of the three major classic motivation theories. Researchers wanted to examine the effects of physical conditions on the productivity of workers, so they changed work conditions, like the light level or the temperature in the workplace, and found out__ that workers were more motivated in all cases.
The result of these experiment was the discovery that employees can be motivated by paying more attention to them. You have to treat your employees like individuals with their wants and needs, and not like machines.
I would suggest the following steps to improve the level of motivation within your workforce.
First, you should allow your employees to have control over their own schedule. ____ It is very important to give employees __control over the way they do their job and give them the opportunity to work more flexibly. Furthermore, you should focus on establishing worker – client – relationships. If your employees get positive feedback from their clients, they will be more motivated. Additionally, you could offer a performance bonus for employees who perform very well. But it is really important that this bonus is directly linked with the performance, otherwise it has no effect on motivation improvement.
Hopefully these suggestions will help you to improve the level of motivation of your workforce.
I look forward to hearing from you.
Best regards, P
Inhalt:
1)Passt.
Sprache
1) Versuche in den nächsten Tagen, die Prepositions die bei typischen Report/Letter-Phrasen verwenden werden, noch etwas zu wiederholen/üben. Dadurch kannst Du in relativ kurzer Zeit Dein Ergebnis weiter verbessern.
Re: Exercise 3 (Securities)Original
Over the last few years investment funds, sometimes also called mutual funds, have started to emerge as a securer alternative to stock portfolios, which sometimes bear great risks. One of the most important strategies these funds use is investment in bonds. This report is going to outline various issues in the area of bond management and it will also aim at providing suggestions relating to Investfonds AG’s situation.
First, the author would like to briefly explain the role of rating agencies, such as Moody’s and Standard & Poor’s when it comes to deciding which bonds to buy. After that, the report will draw a comparison between two of the most important categories of bonds, i.e. secured bonds and debentures. Finally, suggestions are provided for how Investfonds AG can ensure up-to-date information for their decision-making.
One of the most important advantages of bonds over stocks is that a bond’s risk can be evaluated. So-called rating agencies, such as Moody’s and Standard & Poor’s gather information about bonds and especially their issuers and subsequently determine as well as categorise a bond’s default risk, i.e. the issuer’s likelihood of not being able to redeem the bond at maturity. A bond’s rating can range from triple A (very solvent and guaranteed repayment) to the lowest classification (either C or D depending on the particular agency), which is usually associated with so-called junk bonds.
Bonds fall into various categories according to their specific features. The most important classification distinguishes between secured bonds and debentures. Secured bonds are usually bonds that are backed by certain securities, such as a company’s assets. In case the issuer is not able to redeem the bond, the investor has claims to the pledged assets. In contrast, debentures are not backed by any form of security and therefore carry a much higher risk.
For Investfonds AG as a newly founded fund manager who mainly invests in corporate bonds it is vital to get not only sufficient but, most importantly, up-to-date information on the stocks and bonds they hold in their portfolio and those they plan to buy. The easiest way of guaranteeing to receive the latest information would be to regularly check news agencies such as Bloomberg and Reuters. Moreover, the company could constantly follow the news on TV channels that provide real-time information from stock exchanges all over the world. However, since Investfonds AG’s core business is in the financial market, it would be recommendable to set up a special department whose only responsibility is to gather information and distribute it within the company. An additional benefit of this approach presents itself in the fact that this department could then also calculate its own ratios and performance measures.
As initially mentioned, bonds have become a preferred alternative to stocks for some investors. Due to sometimes very volatile stock markets over the past few years investors, especially risk-averse investors, have focused their attention on bonds. Investors, nevertheless, also have to take into account that not even bonds can guarantee a risk-free investment. Investment funds have started to come close to this concept of a nearly secure investment by spreading the risk over their entire portfolio. But in order to do so they need to have accurate and up-to-date information on bond developments.
Korrektur
Over the last few years, investment funds, sometimes also called mutual funds, have started to emerge as a safer alternative to stock portfolios, which sometimes bear great risks. One of the most important strategies these funds use is investment in bonds. This report is going to outline various issues in the area of bond management and it will also aim at providing suggestions relating to Investfonds AG’s situation.
First, the author would like to briefly explain the role of rating agencies, such as Moody’s and Standard & Poor’s, when it comes to deciding which bonds to buy. After that, the report will draw a comparison between two of the most important categories of bonds, i.e. secured bonds and debentures. Finally, suggestions are provided for how Investfonds AG can ensure up-to-date information for its decision-making.
One of the most important advantages of bonds over stocks is that a bond’s risk can be evaluated. So-called rating agencies, such as Moody’s and Standard & Poor’s, gather information about bonds and especially their issuers and subsequently determine as well as categorise a bond’s default risk, i.e. the issuer’s likelihood of not being able to redeem the bond at maturity. A bond’s rating can range from triple A (very solvent and guaranteed repayment) to the lowest classification (either C or D depending on the particular agency), which is usually associated with so-called junk bonds.
Bonds fall into various categories according to their specific features. The most important classification distinguishes between secured bonds and debentures. Secured bonds are usually bonds that are backed by certain collateral, such as a company’s assets. In case the issuer is not able to redeem the bond, the investor has claims on the pledged assets. In contrast, debentures are not backed by any form of collateral and therefore carry a much higher risk.
For Investfonds AG as a newly founded fund manager who mainly invests in corporate bonds, it is vital to get not only sufficient but, most importantly, up-to-date information on the stocks and bonds it holds in its portfolio and those it plans to buy. The easiest way of guaranteeing the recipt of the latest information would be to regularly check news agencies such as Bloomberg and Reuters. Moreover, the company could constantly follow the news on TV channels that provide real-time information from stock exchanges all over the world. However, since Investfonds AG’s core business is in the financial market, it would be recommendable to set up a special department whose only responsibility is to gather information and distribute it within the company. An additional benefit of this approach presents itself in the fact that this department could then also calculate its own ratios and performance measures.
As initially mentioned, bonds have become a preferred alternative to stocks for some investors. Due to sometimes very volatile stock markets over the past few years investors, especially risk-averse investors__ have focused their attention on bonds. Investors, nevertheless, also have to take into account that not even bonds can guarantee a risk-free investment. Investment funds have started to come close to this concept of a nearly secure investment by spreading the risk over their entire portfolio. But in order to do so, they need to have accurate and up-to-date information on bond developments.
Inhaltlich:
1) Spitze
Sprache:
1) Der einzige wirkliche Ritzer ist die Pluralverwendung bei Invstfonds AG. Unternehmen sind eigentlich immer Singular. Es gibt ganz wenig Ausnahmen (z.B. "Jacobs & Harald Attorneys").
2) "Secured bonds are usually bonds that are backed by certain securities": Würde hier bei der Prüfung keine Punkte abziehen, aber eine bessere und gängigere Übersetzung für Kreditsicherheiten ist "collateral".
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