Business English (Listening B1): "Benchmarking"

Vocabulary (French, Spanish and Korean translations)

1. Strengths: forces, points forts, puntos fuertes, 강점,
2. Weakness: faiblesse, debilidad, 약점
3. Sectors: secteurs, sectores, 섹터
4. Production time: temps de production, tiempo de producción, 제작 시간
5. Delivery speed: vitesse de livraison, velocidad de entrega, 배송 속도
6. Competitive: compétitif, competitive, 경쟁력,

Guide Questions
1. What is benchmarking and why is it important?
2. How does the speaker choose companies to benchmark?
3. What does the speaker use when benchmarking?
4. What does the speaker need to do?
5. What does the speaker say in the end?

 American accent

 British accent 

TRANSCRIPT

Benchmarking means comparing your company with other successful companies to see what you can do better. It is important because it helps you understand your strengths and weaknesses. To choose the right companies, we look for similar businesses that work well and have good results. Sometimes, we also look at companies from other sectors if they have good ideas. We use data like production time, delivery speed, and the number of mistakes. This information helps us find ways to improve. A benchmarking project usually takes one to three months. We need time to visit companies, collect data, and study the results. After that, suggestions are given to help the company work better. Benchmarking is a useful way to grow and stay competitive in the market. (130 words)