Listen to a Business English Dialogue About Go around
Albert: Hi Elizabeth, have you ever heard of the term “go around” in business and finance?
Elizabeth: Yes, I think it refers to when a company bypasses traditional channels or procedures to achieve a goal or complete a transaction.
Albert: That’s correct. “Go around” can also mean finding alternative solutions or workarounds to overcome obstacles or delays in a process.
Elizabeth: Can you give an example of when a company might use a “go around” approach?
Albert: Sure, if a company encounters bureaucratic delays in obtaining necessary permits or approvals, they might use a “go around” strategy by seeking expedited processes or finding alternative ways to proceed with their project.
Elizabeth: How do companies assess the risks associated with using a “go around” strategy?
Albert: Companies assess the risks by considering factors such as potential legal or regulatory implications, reputational risks, and the impact on relationships with stakeholders, and they weigh these against the potential benefits of achieving their objectives.
Elizabeth: Are there any advantages to using a “go around” approach?
Albert: One advantage is that it can help companies save time and resources by avoiding lengthy or inefficient processes, enabling them to capitalize on opportunities more quickly and maintain their competitive edge.
Elizabeth: What are some potential drawbacks of using a “go around” strategy?
Albert: One drawback is that it can create tension or conflicts with regulatory authorities, business partners, or other stakeholders if they perceive the company’s actions as circumventing established rules or protocols.
Elizabeth: How do companies ensure compliance when using a “go around” strategy?
Albert: Companies ensure compliance by consulting legal counsel, conducting thorough risk assessments, seeking approval from relevant authorities where necessary, and maintaining transparency and accountability throughout the process.
Elizabeth: Can you provide an example of a successful “go around” strategy?
Albert: Sure, a company might successfully navigate supply chain disruptions by quickly establishing alternative sourcing channels or logistics routes, allowing them to meet customer demand and maintain operations during unforeseen challenges.
Elizabeth: Thanks for explaining, Albert. “Go around” strategies seem like a valuable tool for companies to adapt and overcome obstacles in today’s dynamic business environment.
Albert: Absolutely, Elizabeth. “Go around” approaches enable companies to stay agile and responsive to changing conditions, empowering them to achieve their goals even in the face of adversity.