Investor's Difficulties in Comprehending Written Business English News at Monex Investindo Futures.
ABSTRACT
Dalam bisnis perdagangan indeks mata uang asing dan indeks saham di
PT MONEX Investindo Futures, berita terbaru yang dibutuhkan oleh para
investor adalah berita yang menggunakan bahasa Inggris. Para investor
memutuskan untuk membeli atau menjual indeks mata uang asing
berdasarkan berita terbaru tersebut. Oleh karena itu, penguasaan bahasa
Inggris menjadi penting dalam memahami berita aktual tersebut.
Saya menemukan dua permasalahan yang dihadapi oleh para investor
dalam memahami berita-berita yang berbahasa Inggris. Pertama adalah
banyaknya investor yang tidak mempunyai latar belakang bahasa Inggris
yang cukup baik. Kedua adalah banyaknya kosa kata dan idiom bisnis yang
berbeda dengan bahasa Inggris pada umumnya. Akibat dari sebab yang
pertama adalah investor menghadapi kesulitan untuk memahami berita
terbaru, sementara akibat dari sebab yang kedua yaitu kesalahpahaman
dalam menangkap isi dan pesan dari berita yang tersedia.
Dalam memaparkan masalah tersebut, saya menemukan dua solusi
untuk memecahkannya. Solusi pertama adalah menyediakan media cetak
berbahasa Indonesia agar lebih mudah dipahami oleh para investor,
sehingga investor dapat memahami berita yang tersedia. Solusi kedua
adalah membuat daftar terjemahan kosa kata dan idiom bisnis dalam bentuk
bahasa Indonesia yang mudah dimengerti dan dipelajari oleh para investor.
Dengan menekankan pentingnya pengetahuan akan kosa kata dan idiom
bisnis dalam memahami isi berita bisnis berbahasa Inggris, maka saya
memilih solusi kedua sebagai solusi terbaik. Alasannya dikarenakan dengan
terbiasa membaca dengan kosa kata dan idiom bahasa Inggris bisnis, yang
telah disajikan dalam bentuk tabel terjemahan, diharapkan para investor
dapat memahami berita dalam bahasa Inggris dengan lebih baik sehingga
dapat mengambil keputusan investasi dengan cepat tanpa harus bergantung
dari pihak lain.
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TABLE OF CONTENTS
ABSTRACT .................................................................................................... i
TABLE OF CONTENTS................................................................................. ii
CHAPTER I. INTRODUCTION....................................................................1-5
A. Background of the Study
B. Identification of the Problem
C. Objectives and Benefits of the Study
D. Description of the Institution
E. Method of the Study
F. Limitation of the Study
G. Organization of the Term Paper
CHAPTER II. PROBLEM ANAYLSIS........................................................6-8
CHAPTER III. POTENTIAL SOLUTIONS.................................................9-11
CHAPTER IV. CONCLUSION..................................................................12-13
BIBLIOGRAPHY
APPENDICES :
A. FLOWCHART
B. TWO EXAMPLES OF WRITTEN BUSINESS ENGLISH NEWS
C. EXAMPLES OF BUSINESS VOCABULARIES AND BUSINESS
IDIOMS
D. EXAMPLES OF TRANSLATION TABLE
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FLOWCHART
Causes:
1. There are many investors
who do not have an English
language background.
2. Business vocabularies and
business idioms that are
hard to understand.
Potential negative effects:
Effects:
Problem:
Investor’s difficulties in
comprehending written
business English news at
MONEX Investindo Futures.
Investors may take the
wrong decision in investing
as they have no reference
(news) with their
investment.
Potential Solution I:
Potential positive effect:
The news on newspaper was
an out of date news. As a
result, relying on the out-ofdate news makes the
investor take wrong decision.
Providing the update business
news to investors by giving
them local newspaper that can
be understood by investors.
Potential negative effect:
Potential Solution II:
There is a difference
between vocabularies and
idioms that are used in the
films and in the news.
Investors can decide their
investment for they can get
the full update business
news in Indonesian
language.
Potential positive effect:
Investors will be given
translation table of either
business vocabularies or
business idioms by choosing
some suitable films which are
giving business information
about business idioms and
vocabularies.
Investors will get more
awareness when learning
idioms from both the
translation table and films
Chosen Solution:
SOLUTION II
Investors will be given translation table of either business vocabularies or business
idioms by choosing some suitable films which are giving business information about
business idioms and vocabularies.
Maranatha Christian University
THE BUSINESS ENGLISH NEWS EXAMPLE
INTERNET SOURCE:
Asian economic outlook 'bleak' for 2009
(CNN) -- Asia's economic growth will tumble to the slowest pace since the
1997-1998 Asian financial crisis, the Asian Development Bank (ADB) said
in a report released Tuesday.
"The short term outlook for the region is bleak as the full impact of the
severe recession in industrialized economies is transmitted to emerging
markets," said Jong-Wha Lee, acting chief economist for the ADB.
The Asian Development Outlook 2009 forecasts that economic growth in
developing Asia will slip to 3.4 percent in 2009, down from 6.3 percent last
year and 9.5 percent in 2007. Growth could improve to 6 percent in 2010,
if the global economy experiences a mild recovery next year, the report
says.
"The concern for the region, and especially for the region's poor, is that it
is not yet clear that the [United States], European Union and Japan will
recover as soon as next year," Lee said.
The slowdown should prompt Asian countries to expand their economic
base and not be as dependent on exports, according to the report.
Despite the downturn, the report says Asia is in a much better position to
cope with the current crisis than it was in the late 1990s.
"Large foreign currency reserves and steadily declining inflation rates will
provide policymakers with the necessary tools to nurse their economies
through the hard times ahead," the report said.
A number of Asian governments, including China, Japan and South Korea,
have already responded quickly to the global financial crisis with stimulus
packages and changes in monetary policy, helping to stem some of the
downturn.
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In November, China announced plans to inject $586 billion (4 trillion yuan)
into its economy to offset declines in industrial and export growth. That
economic stimulus plan included the loosening of credit restrictions, tax
cuts and massive infrastructure spending.
(CNN.com)
NEWSPAPER SOURCE:
North Korea Revalues Currency at 100 to 1
Seoul. North Korea revamped its national currency for the first time in 17
years, reports said on Tuesday, in a move that appeared aimed at reviving
its dilapidated economy by curbing inflation and black market trading.
North Korea revalued its currency at an exchange rate between old and
new notes of 100 to 1, China’s Xin Hua news agency said in a dispatch
from Pyongyang, citing a North Korea Foreign Minister dispatch to foreign
embassies.
The exchange of old notes started Monday and will continue until Sunday,
Xin Hua reported. It said no reason was provided for the sudden change.
State-run shops in Pyongyang were closed on Tuesday morning, with one
unidentified saleswoman saying the shops would reopen a week later after
new prices for commodities are set by the government, Xinhua said.
The revaluation drove residents in Pyongyang to rush to black markets to
convert stashed-away money into dollars and Chinese yuan, Yonhap
News Agency said in Seoul, citing North Korea traders operating in China.
“Pyonghyang residents were taken aback and thrown into a big confusion
due to the currency reform,” they said.
Yonhap said the revamp was aimed at fighting inflation and flushing out
money traded on the black market.
South Korea’s mass-circulation Chosun Ilbo newspaper said the
redenomination was to start from Tuesday, and speculated that the move
is part of leader Kim Jong-il’s way of tightening control over his nation’s 24
million people as he prepares to hand over power to one of his three
known sons.
(Jakarta Globe, Wednesday, December 2, 2009).
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EXAMPLES OF BUSINESS IDIOMS AND BUSINESS
VOCABULARIES
From Internet sources: (that use as a reference in making a
translation table)
Bear Market:
Investor often refer this term as “pasar beruang”, but the true meaning is a
situation in the market where the rates of foreign exchange are falling
under 20%. (example: US Dollar’s rates are decreased to 17%).
(finance.yahoo.com)
Will:
It is a term to refer to a legal document that use to transfer assets we have
accumulated during lifetime to the people you want to have them after our
death.
(finance.yahoo.com)
Face value:
It is a term to refer to a trustworthy person in business. (www.rongchang.com/business).
Red ink:
It means that we have a debt (when we have a debt, the red ink is usually
sealed on financial statement document). (www.rongchang.com/business).
Real time:
It refers when in market stock, the price has rise constantly.
(finance.yahoo.com)
Risk:
The greater risk the investors take in their investment, the greater the
return of the successfully investment. (finance.yahoo.com).
Rollover:
When investors move their assets to another individual/corporation.
(finance.yahoo.com).
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Yankee Bond:
This is when an US Dollar rates has been decreased, and at the same
time, the US Government take an act to prevent more damage to the rates
(in other word, this is refer to situation where US Government try to
stabilize their dollar’s rates) (finance.yahoo.com).
Conscience Fund
Known as socially responsible funds, allow you to invest in companies
whose business practices are in keeping with your personal values.
(finance.yahoo.com).
From film sources (that I found as a good reference for investors to
improve the knowledge of business idioms and vocabularies):
“the trust fund to runs out”
It means that the money of the corporation has been out”
“joint venture”
It means a deal between two corporations who decide to join hands.
“revenue stream”
In Indonesia, it means “arus pendapatan”
“seize funds”
In Indonesia, It means “membekukan dana”.
“throw it a rope and pull it out of a swamp”
It means saving the corporation from the nearly bankruptcy.
All of those idioms’ quotes are courtesy of:
The Dark Knight (2008, Warner Bros Copyright)
The Confession of Shopaholic (2008, Buena Vista International Copyright)
The Devil Wears Prada (2006, 20th Century Fox Copyright)
Kurosagi (2006, Toho-Shochiku Copyright.
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EXAMPLES OF TRANSLATION TABLE
Account balance: Jumlah uang yang berada disatu perusahaan.
Broker: Penghubung antara pembeli dan penjual (buyer and seller).
Dengan kata lain, fungsi broker disini adalah mempertemukan antara si
pembeli dan penjual. Segala berkas ijin administrasi (seperti surat kontrak
resmi dari Bursa Efek Indonesia) pun diurus oleh Broker.
Baby bond: Perusahaan saham yang tidak memiliki banyak investor
menerapkan suatu kebijakan dimana investor cukup menginvestasikan
dibawah 10 juta rupiah (1000 dollar AS) saja. Kebijakan ini yang
dinamakan “baby bond”.
Bear Market: Harga nilai mata uang dan saham menurun dibawah 20%.
Will: Warisan/ Pengindahan asset berharga terhadap seseorang ketika
kita sudah mati.
Face value: Orang terpercaya ketika melakukan bisnis. (dengan kata lain
menjadi semacam mitra kerja yang membantu kita).
Bearer bond: Sertifikat untuk menjaga ke-valid-an nilai investasi yang kita
invest ke suatu perusahaan saham, dan bilamana kita memperoleh profit,
jumlah bonus yang kita terima dibayar dan di cap resmi berdasarkan
sertifikat ini.
Red ink: Hutang.
Bull market: Periode dimana harga nilai mata uang sedang jatuh
bersamaan dan dalam jangka waktu lama.
Real time: Periode dimana harga saham dan mata uang sedang naik
bersamaan.
Early withdrawal: Menarik kembali investasi (beserta dokumendokumennya) yang sudah kita investasikan sebelum tenggat waktu.
Efeknya, kita harus membayar denda kepada perusahaan atau
pemerintah (melalui Bursa Efek Indonesia).
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Escrow: Istilah untuk individu/institusi yang menjaga/memegang asset
milik kita yang kita titipkan sebagai jaminan terhadap satu perusahaan.
Escrow menjaga asset tersebut dalam jangka waktu sesuai dengan yang
tertera dalam kontrak resmi. Aset yang dititipkan bisa berupa uang, suratsurat berharga, rumah, gedung perusahaan.
Rollover: Hibah (Mengibahkan asset milik sendiri kepada individu/institusi
lain).
Yankee Bond: Isu yang beredar dalam pasar modal yang mengatakan
kalau dollar AS sedang turun, dan pemerintah AS turun tangan
memberikan statement untuk menstabilkan kembali nilai dollarnya.
Sell short: Strategi penjualan nilai saham dan mata uang untuk
mengantisipasi disaat nilai mata uang sedang turun.
Settlement date: Waktu yang ditetapkan sebagai waktu final transaksi
antara broker, buyer, dan seller.
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CHAPTER ONE
INTRODUCTION
A. Background of the Study
The issue I want to discuss in this term-paper is investor’s difficulties in
comprehending written English business news at PT MONEX Investindo
Futures. MONEX is a securities company in Bandung which trades stock
index and foreign exchange index. At MONEX, English business news
which consists of political and economic news is very important to
customers (they were called ‘investors’ at MONEX). It is because the world
news (especially business news) could give an effect to the fluctuation of
exchange rates. The foreign exchange rates can increase or decrease
depending on the news. For example, the policy of the United States
(U.S.) of America government to put their armies in Iraq has decreased the
US dollar’s rates. As a result, after reading the news, customers should
make a decision quickly to make an investment, whether to buy or to sell
US Dollar exchange. That is why English business news is important to
investors at MONEX. The news is taken from written formats from
newspapers and the internet. I will add the examples of written business
news from Internet sources and newspapers in Appendix.
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Nonetheless, when I was in my internship program at MONEX, I saw
that investors had a difficulty when they had to read English business
news. Investors often ask MONEX’s staffs to inform them of the news
summary in Indonesian language. Owing to this fact, it has become
MONEX’s duties to give a satisfactory service to their customers by giving
them information (summary) of the news that is easy to understand in
Indonesian language. When I was in internship, I was given a task to
provide and inform the summary of the news in Indonesian language for
investors. In making a news summary for the investors, I have to
comprehend the business news.
This is where I found what makes the investors struggle when they
have to comprehend business news. One of the reasons why it was hard
to comprehend the news is there are many unfamiliar terms, i.e. business
idioms and business vocabularies. Why it is that business terms was
difficult to comprehend is because business terms will have a different
meaning when the term has been converted into Indonesian language.
Learning from these difficulties, I will analyze the problems that
investors’ meet. I will explain what causes the problems, what are the
effects, and what are the solutions needed. I will explain these aspects
with relevant theories, internship journal, and my experience in
comprehending business news when I was at MONEX.
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B. Identification of the Problem
1. What causes the difficulties in comprehending English business
news?
2. What is the effect that is caused by the difficulties in comprehending
English business news?
3. What are the solutions needed to improve the comprehension of
English business news?
C. Objectives and Benefits of the Study
Based on the problem above, the objectives of the study are to find the
best solution to comprehend English business news which consists of
business vocabularies and business idioms. It is important to learn
business vocabularies and business idioms in order to comprehend
business news and also when doing business activities.
As for the benefit of my study, I will achieve more knowledge about the
business world, especially about stock index and foreign exchange index
business. In doing this business, I required to comprehend written
business news from the internet and newspapers. Automatically, I will
improve my reading comprehension skill.
The benefit for the readers (especially for MONEX’s investors) is to
help them to know more about the business world. Hopefully, this paper
will also help them the importance of business vocabularies and business
idioms, especially if they want to do business, including stock index and
foreign exchange business, in the future.
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D. Description of the Institution
PT Monex Investindo Futures is located at Jalan Ir. H. Juanda number
70, Bandung. It is one of the subsidiaries of Monex Group in Indonesia.
Other offices are in Jakarta, Cirebon, Surabaya, Tegal, and Purwokerto.
The head office is in Menara Ravindo 9th Floor at Jalan Kebon Sirih,
Jakarta. PT Monex itself is one of the business subsidiaries of Ravindo, a
group widely known for its economic activities, such as financial services,
manufacturing, mining, property, and international trading.
PT Monex Investindo Futures was established to be a specialist in
foreign exchange trading, stock indices, and commodities.
PT Monex has professional employees who are educated well in
business. In order to achieve the customers’ satisfaction, they provide
information and excellent customer service in a secure and transparent
environment.
They are supported by professionals with extensive experience in the
foreign exchange and global capital market. Moreover, they are directly
linked to the world’s largest financial centers, enabling them to have
access to inter-bank prices and allowing them to provide competitive
quotes and excellent service to their clients.
PT Monex Investindo Futures is quickly growing and developing
because of the extensive market and the support from highly experienced
staff.
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Branch
Manager
Bandung
Welgiawan
Hartanto
E. Method of the Study
In this term-paper, I use library research in collecting theories from one
book. In addition, I use several data from the Internet, my own journal from
internship, and my experience.
F. Limitation of the Study
The limitation of this term-paper is the problem concerning English
news that is hard for investors to comprehend due to a lot of business
vocabularies and business idioms. The term-paper will also explain the
cause of what makes the difficulties in comprehending business
vocabularies and business idioms and what are the solutions needed to
solve the problem.
G. Organization of the Term-paper
I would like to divide the term-paper into six parts. The first part is
Abstract. The second part is Acknowledgements. The third part is Table of
Contents. The fourth part is Contents, which consists of Chapter One
(consisting of Introduction, Background of the Study, Identification of the
Problem, Objectives and Benefits of the Study, Description of the
Institution, Method of the Study, Limitation of the Study, and Organization
of the Term-paper), Chapter Two (which is Problem Analysis), Chapter
Three (which is Potential Solutions, containing potential solutions and their
positive and negative effects), and Chapter Four, the conclusion. Then the
term-paper ends with Bibliography and Appendix.
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CHAPTER FOUR
CONCLUSION
In the previous chapter, I have already stated the problem with their
causes and effects, and also three solutions to solve the investor’s
difficulties in comprehending English business news. The first cause is
there are many investors who do not have an English language
background. The effect is investors will miss the update news so that they
will take a wrong decision to invest. The second cause is the difficulties in
comprehending business idioms and business vocabularies that occur in
the news. The effect is the misunderstanding in comprehending the news.
The first solution is help providing the update business news to investors
by giving them local newspapers that they can understand. The second
solution is give a translation table of either business vocabularies or
business idioms by recommend them some suitable films which are giving
business information so that they can learn and understand business
vocabularies and business idioms.
In this chapter, I will conclude the whole problem with one best
potential solution. As the best potential solution, with its potential positive
and potential negative effect, I choose the second potential solution. The
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decision to choose the second solution as the best possible solution is
because in order to comprehend business news, the knowledge of
business idioms and business vocabularies are considerably needed. This
is what Serenson states: to comprehend business news, we have to
understand business idioms and vocabularies. Without it, the message
and the content of the whole news will not be delivered and conveyed well
(2008).
In the second solution, investors will be given a translation table of
either business vocabularies or business idioms from some suitable films
which are giving business information so that they can learn and
understand business vocabularies and business idioms. The source for
making a translation table are finance.yahoo.com and www.rongchang.com/business. The justification for this solution is the importance of
comprehending business English news. The comprehension of business
English news can make the investors make appropriate decisions. It is
because the newest news comes from the Internet and it is in English. On
the contrast, if the investors get out-of-date news, they will make wrong
decisions. Based on my experience, the more investors comprehend the
business news, the more vocabularies and idioms they get.
Last but not least, this term-paper can be concluded that in
comprehending the English business news, Investors can decide their own
investment without depend on translator or other people. Investors are
also suggested to take English course for they can be supervised in
comprehending English business or they should read the translation table
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which has been given occasionally so that the investors can improve their
knowledge of business vocabularies or business idioms.
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BIBLIOGRAPHY
Printed Sources :
Madura, Jeff. International Corporate Finance. Mason : Thomson, 2006.
Electronic Sources :
”Business English”. Rong-Chang Li, Ph.D. 1994-2009. (February 2009).
.
Cakir, Ismail. ”Developing Cultural Awareness In Foreign Language
Teaching”.
Kirikakale
University.
2006.
(11
May
2009).
.
Guida, Maria. ”Foreign-Born Professionals in American Bussiness”.
Successful Speaker, Inc. 2005. (8 April 2009).
.
”Idiom-Wikipedia, the free ensyclopedia”. Wikipedia, the free ensyclopedia.
2009. (24 June 2009).
.
Lavelle, Thomas. ”Teaching and Learning English at Business Schools”.
Transforming Business Education. 2007. (8 May 2009).
.
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Serenson. ”Serenson.Write Better English”. 2002-2009. (12 December
2009).
.
”Yahoo Finance”. Yahoo!. 2009. (February 2009).
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Dalam bisnis perdagangan indeks mata uang asing dan indeks saham di
PT MONEX Investindo Futures, berita terbaru yang dibutuhkan oleh para
investor adalah berita yang menggunakan bahasa Inggris. Para investor
memutuskan untuk membeli atau menjual indeks mata uang asing
berdasarkan berita terbaru tersebut. Oleh karena itu, penguasaan bahasa
Inggris menjadi penting dalam memahami berita aktual tersebut.
Saya menemukan dua permasalahan yang dihadapi oleh para investor
dalam memahami berita-berita yang berbahasa Inggris. Pertama adalah
banyaknya investor yang tidak mempunyai latar belakang bahasa Inggris
yang cukup baik. Kedua adalah banyaknya kosa kata dan idiom bisnis yang
berbeda dengan bahasa Inggris pada umumnya. Akibat dari sebab yang
pertama adalah investor menghadapi kesulitan untuk memahami berita
terbaru, sementara akibat dari sebab yang kedua yaitu kesalahpahaman
dalam menangkap isi dan pesan dari berita yang tersedia.
Dalam memaparkan masalah tersebut, saya menemukan dua solusi
untuk memecahkannya. Solusi pertama adalah menyediakan media cetak
berbahasa Indonesia agar lebih mudah dipahami oleh para investor,
sehingga investor dapat memahami berita yang tersedia. Solusi kedua
adalah membuat daftar terjemahan kosa kata dan idiom bisnis dalam bentuk
bahasa Indonesia yang mudah dimengerti dan dipelajari oleh para investor.
Dengan menekankan pentingnya pengetahuan akan kosa kata dan idiom
bisnis dalam memahami isi berita bisnis berbahasa Inggris, maka saya
memilih solusi kedua sebagai solusi terbaik. Alasannya dikarenakan dengan
terbiasa membaca dengan kosa kata dan idiom bahasa Inggris bisnis, yang
telah disajikan dalam bentuk tabel terjemahan, diharapkan para investor
dapat memahami berita dalam bahasa Inggris dengan lebih baik sehingga
dapat mengambil keputusan investasi dengan cepat tanpa harus bergantung
dari pihak lain.
i
Maranatha Christian University
TABLE OF CONTENTS
ABSTRACT .................................................................................................... i
TABLE OF CONTENTS................................................................................. ii
CHAPTER I. INTRODUCTION....................................................................1-5
A. Background of the Study
B. Identification of the Problem
C. Objectives and Benefits of the Study
D. Description of the Institution
E. Method of the Study
F. Limitation of the Study
G. Organization of the Term Paper
CHAPTER II. PROBLEM ANAYLSIS........................................................6-8
CHAPTER III. POTENTIAL SOLUTIONS.................................................9-11
CHAPTER IV. CONCLUSION..................................................................12-13
BIBLIOGRAPHY
APPENDICES :
A. FLOWCHART
B. TWO EXAMPLES OF WRITTEN BUSINESS ENGLISH NEWS
C. EXAMPLES OF BUSINESS VOCABULARIES AND BUSINESS
IDIOMS
D. EXAMPLES OF TRANSLATION TABLE
ii
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FLOWCHART
Causes:
1. There are many investors
who do not have an English
language background.
2. Business vocabularies and
business idioms that are
hard to understand.
Potential negative effects:
Effects:
Problem:
Investor’s difficulties in
comprehending written
business English news at
MONEX Investindo Futures.
Investors may take the
wrong decision in investing
as they have no reference
(news) with their
investment.
Potential Solution I:
Potential positive effect:
The news on newspaper was
an out of date news. As a
result, relying on the out-ofdate news makes the
investor take wrong decision.
Providing the update business
news to investors by giving
them local newspaper that can
be understood by investors.
Potential negative effect:
Potential Solution II:
There is a difference
between vocabularies and
idioms that are used in the
films and in the news.
Investors can decide their
investment for they can get
the full update business
news in Indonesian
language.
Potential positive effect:
Investors will be given
translation table of either
business vocabularies or
business idioms by choosing
some suitable films which are
giving business information
about business idioms and
vocabularies.
Investors will get more
awareness when learning
idioms from both the
translation table and films
Chosen Solution:
SOLUTION II
Investors will be given translation table of either business vocabularies or business
idioms by choosing some suitable films which are giving business information about
business idioms and vocabularies.
Maranatha Christian University
THE BUSINESS ENGLISH NEWS EXAMPLE
INTERNET SOURCE:
Asian economic outlook 'bleak' for 2009
(CNN) -- Asia's economic growth will tumble to the slowest pace since the
1997-1998 Asian financial crisis, the Asian Development Bank (ADB) said
in a report released Tuesday.
"The short term outlook for the region is bleak as the full impact of the
severe recession in industrialized economies is transmitted to emerging
markets," said Jong-Wha Lee, acting chief economist for the ADB.
The Asian Development Outlook 2009 forecasts that economic growth in
developing Asia will slip to 3.4 percent in 2009, down from 6.3 percent last
year and 9.5 percent in 2007. Growth could improve to 6 percent in 2010,
if the global economy experiences a mild recovery next year, the report
says.
"The concern for the region, and especially for the region's poor, is that it
is not yet clear that the [United States], European Union and Japan will
recover as soon as next year," Lee said.
The slowdown should prompt Asian countries to expand their economic
base and not be as dependent on exports, according to the report.
Despite the downturn, the report says Asia is in a much better position to
cope with the current crisis than it was in the late 1990s.
"Large foreign currency reserves and steadily declining inflation rates will
provide policymakers with the necessary tools to nurse their economies
through the hard times ahead," the report said.
A number of Asian governments, including China, Japan and South Korea,
have already responded quickly to the global financial crisis with stimulus
packages and changes in monetary policy, helping to stem some of the
downturn.
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In November, China announced plans to inject $586 billion (4 trillion yuan)
into its economy to offset declines in industrial and export growth. That
economic stimulus plan included the loosening of credit restrictions, tax
cuts and massive infrastructure spending.
(CNN.com)
NEWSPAPER SOURCE:
North Korea Revalues Currency at 100 to 1
Seoul. North Korea revamped its national currency for the first time in 17
years, reports said on Tuesday, in a move that appeared aimed at reviving
its dilapidated economy by curbing inflation and black market trading.
North Korea revalued its currency at an exchange rate between old and
new notes of 100 to 1, China’s Xin Hua news agency said in a dispatch
from Pyongyang, citing a North Korea Foreign Minister dispatch to foreign
embassies.
The exchange of old notes started Monday and will continue until Sunday,
Xin Hua reported. It said no reason was provided for the sudden change.
State-run shops in Pyongyang were closed on Tuesday morning, with one
unidentified saleswoman saying the shops would reopen a week later after
new prices for commodities are set by the government, Xinhua said.
The revaluation drove residents in Pyongyang to rush to black markets to
convert stashed-away money into dollars and Chinese yuan, Yonhap
News Agency said in Seoul, citing North Korea traders operating in China.
“Pyonghyang residents were taken aback and thrown into a big confusion
due to the currency reform,” they said.
Yonhap said the revamp was aimed at fighting inflation and flushing out
money traded on the black market.
South Korea’s mass-circulation Chosun Ilbo newspaper said the
redenomination was to start from Tuesday, and speculated that the move
is part of leader Kim Jong-il’s way of tightening control over his nation’s 24
million people as he prepares to hand over power to one of his three
known sons.
(Jakarta Globe, Wednesday, December 2, 2009).
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EXAMPLES OF BUSINESS IDIOMS AND BUSINESS
VOCABULARIES
From Internet sources: (that use as a reference in making a
translation table)
Bear Market:
Investor often refer this term as “pasar beruang”, but the true meaning is a
situation in the market where the rates of foreign exchange are falling
under 20%. (example: US Dollar’s rates are decreased to 17%).
(finance.yahoo.com)
Will:
It is a term to refer to a legal document that use to transfer assets we have
accumulated during lifetime to the people you want to have them after our
death.
(finance.yahoo.com)
Face value:
It is a term to refer to a trustworthy person in business. (www.rongchang.com/business).
Red ink:
It means that we have a debt (when we have a debt, the red ink is usually
sealed on financial statement document). (www.rongchang.com/business).
Real time:
It refers when in market stock, the price has rise constantly.
(finance.yahoo.com)
Risk:
The greater risk the investors take in their investment, the greater the
return of the successfully investment. (finance.yahoo.com).
Rollover:
When investors move their assets to another individual/corporation.
(finance.yahoo.com).
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Yankee Bond:
This is when an US Dollar rates has been decreased, and at the same
time, the US Government take an act to prevent more damage to the rates
(in other word, this is refer to situation where US Government try to
stabilize their dollar’s rates) (finance.yahoo.com).
Conscience Fund
Known as socially responsible funds, allow you to invest in companies
whose business practices are in keeping with your personal values.
(finance.yahoo.com).
From film sources (that I found as a good reference for investors to
improve the knowledge of business idioms and vocabularies):
“the trust fund to runs out”
It means that the money of the corporation has been out”
“joint venture”
It means a deal between two corporations who decide to join hands.
“revenue stream”
In Indonesia, it means “arus pendapatan”
“seize funds”
In Indonesia, It means “membekukan dana”.
“throw it a rope and pull it out of a swamp”
It means saving the corporation from the nearly bankruptcy.
All of those idioms’ quotes are courtesy of:
The Dark Knight (2008, Warner Bros Copyright)
The Confession of Shopaholic (2008, Buena Vista International Copyright)
The Devil Wears Prada (2006, 20th Century Fox Copyright)
Kurosagi (2006, Toho-Shochiku Copyright.
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EXAMPLES OF TRANSLATION TABLE
Account balance: Jumlah uang yang berada disatu perusahaan.
Broker: Penghubung antara pembeli dan penjual (buyer and seller).
Dengan kata lain, fungsi broker disini adalah mempertemukan antara si
pembeli dan penjual. Segala berkas ijin administrasi (seperti surat kontrak
resmi dari Bursa Efek Indonesia) pun diurus oleh Broker.
Baby bond: Perusahaan saham yang tidak memiliki banyak investor
menerapkan suatu kebijakan dimana investor cukup menginvestasikan
dibawah 10 juta rupiah (1000 dollar AS) saja. Kebijakan ini yang
dinamakan “baby bond”.
Bear Market: Harga nilai mata uang dan saham menurun dibawah 20%.
Will: Warisan/ Pengindahan asset berharga terhadap seseorang ketika
kita sudah mati.
Face value: Orang terpercaya ketika melakukan bisnis. (dengan kata lain
menjadi semacam mitra kerja yang membantu kita).
Bearer bond: Sertifikat untuk menjaga ke-valid-an nilai investasi yang kita
invest ke suatu perusahaan saham, dan bilamana kita memperoleh profit,
jumlah bonus yang kita terima dibayar dan di cap resmi berdasarkan
sertifikat ini.
Red ink: Hutang.
Bull market: Periode dimana harga nilai mata uang sedang jatuh
bersamaan dan dalam jangka waktu lama.
Real time: Periode dimana harga saham dan mata uang sedang naik
bersamaan.
Early withdrawal: Menarik kembali investasi (beserta dokumendokumennya) yang sudah kita investasikan sebelum tenggat waktu.
Efeknya, kita harus membayar denda kepada perusahaan atau
pemerintah (melalui Bursa Efek Indonesia).
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Escrow: Istilah untuk individu/institusi yang menjaga/memegang asset
milik kita yang kita titipkan sebagai jaminan terhadap satu perusahaan.
Escrow menjaga asset tersebut dalam jangka waktu sesuai dengan yang
tertera dalam kontrak resmi. Aset yang dititipkan bisa berupa uang, suratsurat berharga, rumah, gedung perusahaan.
Rollover: Hibah (Mengibahkan asset milik sendiri kepada individu/institusi
lain).
Yankee Bond: Isu yang beredar dalam pasar modal yang mengatakan
kalau dollar AS sedang turun, dan pemerintah AS turun tangan
memberikan statement untuk menstabilkan kembali nilai dollarnya.
Sell short: Strategi penjualan nilai saham dan mata uang untuk
mengantisipasi disaat nilai mata uang sedang turun.
Settlement date: Waktu yang ditetapkan sebagai waktu final transaksi
antara broker, buyer, dan seller.
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CHAPTER ONE
INTRODUCTION
A. Background of the Study
The issue I want to discuss in this term-paper is investor’s difficulties in
comprehending written English business news at PT MONEX Investindo
Futures. MONEX is a securities company in Bandung which trades stock
index and foreign exchange index. At MONEX, English business news
which consists of political and economic news is very important to
customers (they were called ‘investors’ at MONEX). It is because the world
news (especially business news) could give an effect to the fluctuation of
exchange rates. The foreign exchange rates can increase or decrease
depending on the news. For example, the policy of the United States
(U.S.) of America government to put their armies in Iraq has decreased the
US dollar’s rates. As a result, after reading the news, customers should
make a decision quickly to make an investment, whether to buy or to sell
US Dollar exchange. That is why English business news is important to
investors at MONEX. The news is taken from written formats from
newspapers and the internet. I will add the examples of written business
news from Internet sources and newspapers in Appendix.
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Nonetheless, when I was in my internship program at MONEX, I saw
that investors had a difficulty when they had to read English business
news. Investors often ask MONEX’s staffs to inform them of the news
summary in Indonesian language. Owing to this fact, it has become
MONEX’s duties to give a satisfactory service to their customers by giving
them information (summary) of the news that is easy to understand in
Indonesian language. When I was in internship, I was given a task to
provide and inform the summary of the news in Indonesian language for
investors. In making a news summary for the investors, I have to
comprehend the business news.
This is where I found what makes the investors struggle when they
have to comprehend business news. One of the reasons why it was hard
to comprehend the news is there are many unfamiliar terms, i.e. business
idioms and business vocabularies. Why it is that business terms was
difficult to comprehend is because business terms will have a different
meaning when the term has been converted into Indonesian language.
Learning from these difficulties, I will analyze the problems that
investors’ meet. I will explain what causes the problems, what are the
effects, and what are the solutions needed. I will explain these aspects
with relevant theories, internship journal, and my experience in
comprehending business news when I was at MONEX.
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B. Identification of the Problem
1. What causes the difficulties in comprehending English business
news?
2. What is the effect that is caused by the difficulties in comprehending
English business news?
3. What are the solutions needed to improve the comprehension of
English business news?
C. Objectives and Benefits of the Study
Based on the problem above, the objectives of the study are to find the
best solution to comprehend English business news which consists of
business vocabularies and business idioms. It is important to learn
business vocabularies and business idioms in order to comprehend
business news and also when doing business activities.
As for the benefit of my study, I will achieve more knowledge about the
business world, especially about stock index and foreign exchange index
business. In doing this business, I required to comprehend written
business news from the internet and newspapers. Automatically, I will
improve my reading comprehension skill.
The benefit for the readers (especially for MONEX’s investors) is to
help them to know more about the business world. Hopefully, this paper
will also help them the importance of business vocabularies and business
idioms, especially if they want to do business, including stock index and
foreign exchange business, in the future.
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D. Description of the Institution
PT Monex Investindo Futures is located at Jalan Ir. H. Juanda number
70, Bandung. It is one of the subsidiaries of Monex Group in Indonesia.
Other offices are in Jakarta, Cirebon, Surabaya, Tegal, and Purwokerto.
The head office is in Menara Ravindo 9th Floor at Jalan Kebon Sirih,
Jakarta. PT Monex itself is one of the business subsidiaries of Ravindo, a
group widely known for its economic activities, such as financial services,
manufacturing, mining, property, and international trading.
PT Monex Investindo Futures was established to be a specialist in
foreign exchange trading, stock indices, and commodities.
PT Monex has professional employees who are educated well in
business. In order to achieve the customers’ satisfaction, they provide
information and excellent customer service in a secure and transparent
environment.
They are supported by professionals with extensive experience in the
foreign exchange and global capital market. Moreover, they are directly
linked to the world’s largest financial centers, enabling them to have
access to inter-bank prices and allowing them to provide competitive
quotes and excellent service to their clients.
PT Monex Investindo Futures is quickly growing and developing
because of the extensive market and the support from highly experienced
staff.
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Branch
Manager
Bandung
Welgiawan
Hartanto
E. Method of the Study
In this term-paper, I use library research in collecting theories from one
book. In addition, I use several data from the Internet, my own journal from
internship, and my experience.
F. Limitation of the Study
The limitation of this term-paper is the problem concerning English
news that is hard for investors to comprehend due to a lot of business
vocabularies and business idioms. The term-paper will also explain the
cause of what makes the difficulties in comprehending business
vocabularies and business idioms and what are the solutions needed to
solve the problem.
G. Organization of the Term-paper
I would like to divide the term-paper into six parts. The first part is
Abstract. The second part is Acknowledgements. The third part is Table of
Contents. The fourth part is Contents, which consists of Chapter One
(consisting of Introduction, Background of the Study, Identification of the
Problem, Objectives and Benefits of the Study, Description of the
Institution, Method of the Study, Limitation of the Study, and Organization
of the Term-paper), Chapter Two (which is Problem Analysis), Chapter
Three (which is Potential Solutions, containing potential solutions and their
positive and negative effects), and Chapter Four, the conclusion. Then the
term-paper ends with Bibliography and Appendix.
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CHAPTER FOUR
CONCLUSION
In the previous chapter, I have already stated the problem with their
causes and effects, and also three solutions to solve the investor’s
difficulties in comprehending English business news. The first cause is
there are many investors who do not have an English language
background. The effect is investors will miss the update news so that they
will take a wrong decision to invest. The second cause is the difficulties in
comprehending business idioms and business vocabularies that occur in
the news. The effect is the misunderstanding in comprehending the news.
The first solution is help providing the update business news to investors
by giving them local newspapers that they can understand. The second
solution is give a translation table of either business vocabularies or
business idioms by recommend them some suitable films which are giving
business information so that they can learn and understand business
vocabularies and business idioms.
In this chapter, I will conclude the whole problem with one best
potential solution. As the best potential solution, with its potential positive
and potential negative effect, I choose the second potential solution. The
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decision to choose the second solution as the best possible solution is
because in order to comprehend business news, the knowledge of
business idioms and business vocabularies are considerably needed. This
is what Serenson states: to comprehend business news, we have to
understand business idioms and vocabularies. Without it, the message
and the content of the whole news will not be delivered and conveyed well
(2008).
In the second solution, investors will be given a translation table of
either business vocabularies or business idioms from some suitable films
which are giving business information so that they can learn and
understand business vocabularies and business idioms. The source for
making a translation table are finance.yahoo.com and www.rongchang.com/business. The justification for this solution is the importance of
comprehending business English news. The comprehension of business
English news can make the investors make appropriate decisions. It is
because the newest news comes from the Internet and it is in English. On
the contrast, if the investors get out-of-date news, they will make wrong
decisions. Based on my experience, the more investors comprehend the
business news, the more vocabularies and idioms they get.
Last but not least, this term-paper can be concluded that in
comprehending the English business news, Investors can decide their own
investment without depend on translator or other people. Investors are
also suggested to take English course for they can be supervised in
comprehending English business or they should read the translation table
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which has been given occasionally so that the investors can improve their
knowledge of business vocabularies or business idioms.
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BIBLIOGRAPHY
Printed Sources :
Madura, Jeff. International Corporate Finance. Mason : Thomson, 2006.
Electronic Sources :
”Business English”. Rong-Chang Li, Ph.D. 1994-2009. (February 2009).
.
Cakir, Ismail. ”Developing Cultural Awareness In Foreign Language
Teaching”.
Kirikakale
University.
2006.
(11
May
2009).
.
Guida, Maria. ”Foreign-Born Professionals in American Bussiness”.
Successful Speaker, Inc. 2005. (8 April 2009).
.
”Idiom-Wikipedia, the free ensyclopedia”. Wikipedia, the free ensyclopedia.
2009. (24 June 2009).
.
Lavelle, Thomas. ”Teaching and Learning English at Business Schools”.
Transforming Business Education. 2007. (8 May 2009).
.
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Serenson. ”Serenson.Write Better English”. 2002-2009. (12 December
2009).
.
”Yahoo Finance”. Yahoo!. 2009. (February 2009).
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