Lecturer: Welcome everybody to today’s seminar. If I remember correctly, David, you’ll be leading the seminar
David: Yes, that’s right ...
Presenter: Fine. And how about questions – shall we keep these to the end or would you like people to interrupt during your presentation?
David: Thanks, ehm , if anyone has a question just ask straight away ...
Lecturer: Fine, let’s go then ...
David: Right, ehm ... eBay is an enormously successful company; it’s a household word in several countries; in 2005 it had a turnover of $4.55 billion and it employed 11,600 people – it’s achieved all of this in just 11 years. What’s the secret of eBay’s success? I think the key issue here is that eBay couldn’t exist without the internet. You know, there aren’t many examples of companies like this – take Amazon, for example. If you don’t feel like switching your computer on you can always go round to the nearest bookshop. But if you want to sell your old magazines to somebody in Germany, eBay’s the only way to do it. Without the net’s ability to bring buyers and sellers together from different locations there would be no eBay. So this is big point number one. Now, let’s move on to point two, the founders of eBay. Meg Whitman, the CEO, like all of the senior staff, already had a successful business background – she brought in an experienced management team. They had a great idea but it had to be a great profitable idea. Around this – the importance of profitability – they built their business model. Let’s move on to point three, sound business management. Did you hear of eBay during the dotcom boom years? Not a lot – they were busy building their customer base and making money, they didn’t feature in stories headlining the excesses of the dotcom boom years ... Actually, I’ll add another point, point four. eBay doesn’t produce, sell or ship anything itself, it provides the online marketplace for other people to do this. This gives it enormous financial power ...
Student: David, can I ask a question?
David: Sure ...
Student: What difference does that make – the point about eBay not making anything itself ...?
David: Well, this means that they can use their capital very effectively – you know, their capital isn’t tied up in buildings, factories, warehouses, that sort of thing. Again, their capital isn’t tied up in things that are waiting to be sold, they haven’t got shops all over the world with sales assistants in them – all this costs – see what I mean?
Student: Sure, I get it now ...
David: Great, now ... The only problem they’ve run into – actually, that’s not true, they’ve had a couple of major problems – anyway, the first problem, they arrived in a couple of key markets too late. This happened in Japan and Hong Kong, where Yahoo’s online marketplace had a head start. The other problem – well, it’s the sort of thing we’ve all heard about – buyers receiving stolen goods, or a product different from the one they thought they’d bought, or no product at all, sellers putting in false bids to increase the price just before an auction finishes. eBay admits this happens, but says that this sort of thing accounts for a very small percentage of all sales. OK , now I’d like to have a look at just how the company has expanded over the last 11 years ...
Listen to this business school seminar from the year 2006 where the seminar leader talks about how eBay achieved its success.
Do the Preparation task first. Then listen to the audio. Next go to each Task and do the activity. If you need help, you can read the transcript at any time.
Comprehension 1. Before you listen to the seminar, put the words in these sentences in the correct order. As you listen you can check that you were right.
Detailed comprehension 2. Listen again and correct the mistakes in the notes made by a student at the seminar.
In China , TaoBao is a very popular websites like ebay .People use it's services to buy or sell anything such as cosmetic , book and clothes . It is convenient and saving for people who live in the big cites such as beijing or shanghai . It changes the traditional style of business and generates a lot of job opportunities .I hope that I can buy products from TaoBao in the Uk in the further .
That's exellent report you can provide for our community. Now, we have some great marketplace, for instance: Alibaba.com for source product from China and it's B2B website, forcus on intenational trade. And Ebay.com and Amazon.com are two great platform for user to do the own business. In some Asian countries, Ebay is not popular but in European countries or America, it's very polular.
The online purchase are very useful because the people can save time and they don't have need to go shop. In Colombia the people are very suspicious to buy through internet but lately, the companies are implementing the online pay
I am going to buy a professional camera by eBay, and here in Armenia there are people using eBay's services and they are satisfied with the results. The interest towards net shopping is growing now in Armenia. And it is good, because we are politically cut from outer world by our neighbors; Turkey and Azerbaijan, and sometimes when Russia has got problems with Georgia, again our truckers are left standing in the snow and wind having nowhere to spend a night and no security to leave their loads with.
It is sad what you've mentioned about Armenia's neighbors, I was born in a former republic of USSR and I know from our experience what does it means to have such neighbors. Even nowadays we are far from saying that all of the problems that have arisen from the very beginning of the independence of our country are solved, but I keep hoping that one day all of these will be in the past...
You was saying that your country is cut from outer world, but then how the purchased goods is being delivered to the buyers?
This article is very interesting and I've learned a lot. In Russia eBay is not famous online marketplace, we use Molotok.ru most of all.
Very interesting, I just made some mistakes in task 2 using words as doesn't instead of does not. But its a beginning.
Many thanks for the opportunity to learn
I suppose in task 2/8 "and" is missing after word "buyers".
Yes, that's right. There was a problem with our exercise creator - it was eating words! We've fixed it now, so you should be able to see all the words fine.
Thanks for pointing out this problem.
The LearnEnglish Team
ebay has not get success in China, I don't know the reason, in China a local company named Taobao which carry on a same business with ebay. It seems that Taobao is better than ebay in China.
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