12 February 2024 IELTS Speaking Part 2,3 Businessmen Sample Answer

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In this article, we explore a recent IELTS Speaking question along with a band 9 response written by expert instructors.

Part 2:

Talk about a businessman that you admire. 

You should say:

• Who is this person?
• How do you know this person?
• What kind of business does this person do?
• Explain why you admire this person?

One businessman whom I greatly admire is Ratan Tata, the former chairman of Tata Sons, a prominent conglomerate in India. I first became acquainted with Ratan Tata because of his reputation as a visionary leader and philanthropist. His contributions to various sectors, including automotive, steel, and hospitality, have had a profound impact on India's business landscape.

Ratan Tata's business endeavours extend beyond traditional profit-making ventures; he is known for his commitment to social responsibility and ethical business practices. Under his leadership, the Tata Group expanded globally while maintaining a strong focus on sustainability and corporate social responsibility. This approach resonated with me as it showcased a blend of business acumen with a genuine concern for societal well-being.

The Tata Group's diverse portfolio includes Tata Motors, Tata Steel, Tata Consultancy Services (TCS), and Tata Tea, among others. This conglomerate's reach encompasses industries ranging from automobiles and technology to beverages and hospitality, reflecting Ratan Tata's strategic foresight and ability to diversify successfully.

What truly earns my admiration for Ratan Tata is his humility, integrity, and dedication to making a positive impact. His initiatives such as the Tata Nano project, aimed at creating an affordable car for the masses, and the Tata Trusts' philanthropic efforts in education, healthcare, and rural development have touched countless lives.

Moreover, Ratan Tata's leadership during challenging times, such as the global financial crisis and various industry disruptions, demonstrated resilience and adaptability. His ability to steer Tata Group through turbulent waters while upholding its core values and long-term vision is truly commendable.

Ratan Tata embodies the qualities of a transformative leader who has not only achieved business success but has also inspired others to pursue excellence with compassion and integrity. His legacy as a visionary businessman and a compassionate human being continues to inspire generations of entrepreneurs and business leaders worldwide.

Part 3:

• What do you think is the appropriate retirement age for men and women?

Determining the ideal retirement age for men and women involves considering various factors such as health, financial stability, societal norms, and individual preferences. While there's no one-size-fits-all answer, many experts suggest that the retirement age should be flexible and based on individual circumstances. Factors like life expectancy, ability to work, access to healthcare, and pension benefits play crucial roles. Additionally, promoting age diversity in the workforce and offering options for phased retirement can benefit both individuals and organisations. Ultimately, I believe the goal should be to ensure a balance where individuals can retire comfortably while contributing to society based on their capabilities and aspirations.

• What kind of qualities do people need to run their own business?

Running a successful business requires a unique blend of qualities that encompass both leadership and operational skills. Entrepreneurs need to be visionaries who are resilient and adept at navigating challenges and seizing opportunities. I reckon effective communication, problem-solving abilities, and strategic thinking are essential for making sound decisions and building strong relationships with stakeholders. Additionally, financial acumen, risk management, and innovation drive sustainable growth and give a competitive advantage to businessmen. Successful business owners also prioritise teamwork, creativity, and continuous learning, fostering a dynamic and thriving entrepreneurial ecosystem.

• Is it easy to set up and run a new business in your country?

Despite the government's efforts with initiatives like 'Startup India' to bolster entrepreneurship, setting up and running a new business in India can still feel like grappling with a tangled web of bureaucratic hurdles and regulatory complexities. The whole process of dealing with licences, permits, and compliance requirements can be quite overwhelming, especially for small and medium-sized enterprises. Additionally, many aspiring entrepreneurs, particularly those in rural areas, face an uphill battle in accessing sufficient financing as traditional banking services may not be readily available.

• What do you think are the major factors that contribute to the success of the business?

In my opinion, a successful business is like a well-oiled machine with several essential components. A clear vision and strong leadership are like the engine driving progress. Innovation and adaptability are the gears that keep the business moving forward in a changing landscape. Financial management and operational efficiency act as the fuel that sustains growth. Finally, putting customers at the centre of your strategy is like building a loyal fanbase that keeps coming back for more