Exercise 2. Answer the following questions. Exercise 5. Prepare a short checklist of the questions that you would need to ask yourselves before starting a business. Exercise 3. Fill in the gaps with the words and expressions from the text

 

1. What is business?

2. What is an entrepreneur?

3. What are the forms of small business?

4. What are the advantages and drawbacks of small business?

5. What is a partnership?

6. What are the main differences between public and private companies?

7. What are the types of companies?

8. What is a corporation?

9. What is franchising and what are its advantages?

 

Exercise 3. Fill in the gaps with the words and expressions from the text:

 

1. Business is the ___________________, ________________, and ___________ of goods and services for the benefit of the buyer and the profit of the seller.

2. ______________________________ is the simplest way of starting a business.

3. Two or more people starting a business together can set up a_______________________. All partners are responsible for the _________________ of the ______________ and profits and losses are _______________ between them.

4. A company is usually formed for the purpose of ____________________________ that is _______________ from its owners, the shareholders.

5. Private companies cannot ________________to or _____________________ from the general public.

6. Associated company is a company over which ____________________ has substantial influence; for example it owns between _____________ per cent and ___________ per cent of its shares.

7. Subsidiary company is a company controlled by a __________________________, usually because the holding company _____________ (or indirectly _________ through another subsidiary) more than 50 per cent of the subsidiary company’s ___________________.

8. Franchising is a form of business in which ________________________ may be provided by people or firms who have obtained a __________________ from the originators or owners of that __________________________.

9. Franchising provides the opportunity of developing business without having _______________________ .

10.      International business is a ____________________________ which changes, adapts and responds according to the _______________________.

 

Exercise 4. Decide which of the advantages and disadvantages below you would associate with the following forms of business. In some cases there may be more then one correct answer.

 

1. a sole trader

2. a partnership

3. a private limited company

4. franchising

 

Advantages

1. You have total control of your business.

2. This is a food way of sharing the pressure and work of starting a business.

3. The financial risks that you are taking are restricted.

4. You can increase your capital by selling shares.

5. You can go into business with limited risk and outlay.

 

Disadvantages

1. There is a danger that conflicts of personality could ruin your business.

2. It may be difficult to expand.

3. You may have to sell your possessions if the company goes into debt.

 

Exercise 5. Prepare a short checklist of the questions that you would need to ask yourselves before starting a business.

Examples:

How much money will I need?

What starting investments are necessary?

Where to place the enterprise?

What are the prospects of the business?

Etc.

_____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

Exercise 6. What position would you like to have:

A. to manage people – manager

B. to work for someone else – an employee

C. to be your own boss – self-employed, businessman

D. to be responsible for everything – top manager, director

E. to work for the state – state employee

 

How do you see your future profession? Please answer the following questions:

What kind of work you are interested in:

1. well-paid work

2. interesting work

3. work in a large and famous company

4. quiet work

5. work in an industry which has future prospects

6. prestigious work

7. a kind of work such as not to sit the whole day in the office

8. to travel a lot

Please, discuss advantages and disadvantages of your future profession.

1. Do you think that your future profession is prestigious?

2. Do you think it will be still prestigious and well paid by the time you graduate?

3. How difficult is it to find a good work in your field?

4. Is there a competition in your group?

5. Do you think that competition among your coeds (однокурсниками) is a good stimulus to study well or it just makes communication between you more difficult?

 

Exercise 7. Read and translate the text.

 

What is a manager?

A number of different terms are often used instead of the term “manager”, including “director”, “administrator” and “president”. The term “manager” is used more frequently in profit-making organizations, while the others are used more widely in government and non-profit organizations such as universities, hospitals and social work agencies.

So, who do we call a “manager”?

In its broad meaning the term “managers” applies to the people who are responsible for making and carrying out decisions within a certain system. A personnel manager directly supervises people in an organization. Financial manager is a person who is responsible for finance. Sales manager is responsible for selling of goods.

Almost everything a manager does involves decision-making. When a problem exists a manager has to make a decision to solve it. In decision-making there is always some uncertainty and risk.

Management is a variety of specific activities. Management is a function of planning, organizing, coordinating, directing and controlling. Any managerial system, at any managerial level, is characterized in terms of these general functions.

Managing is a responsible and hard job. There is a lot to be done and relatively little time to do it. In all types of organizations managerial efficiency depends on manager’s direct personal relationships, hard work on a variety of activities and preference for active tasks.

The characteristics of management often vary according to national culture, which can determine how managers are trained, how they lead people and how they approach their jobs.

The amount of responsibility of any individual in a company depends on the position that he or she occupies in the hierarchy. Managers, for example, are responsible for leading the people directly under them, who are called subordinates. To do this successfully, they must use their authority, which is the right to take decisions and give orders. Managers often delegate authority. This means that employees at lower levels in the company hierarchy can use their initiative, that is make decisions without asking their manager.

 

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