Possessions, adjustment, proprietor, failure, headings, enterprise, efficiency, ownership, conditions, flexible, failure, liability, debts, decisions, responsible.

1. The different types of business organization may be classified under five … .

2. This is the simplest and the oldest form of business … .

3. A single person is solely…for the success or … of the business.

4. His … is unlimited.

5. … and control are vested in one person.

6. This type of organization is extremely … and capable of quick … to change in market … .

7. The owner is personally liable for the … incurred by his firm.

8. All his … are at risk.

9. A single person provides the capital, takes the …, and assumes the risks.

 

III. Complete the sentences using the proper forms of the verbs in the brackets:

1. The different types of business organization ___ (to find) in the UK may ___ (to classify) under five headings.

2. He ___ (to have) the sole rights to such profits as may ___ (to accrue) or, alternatively, ___ (to bear) the sole responsibility for such losses.

3. The one-person business ___ (to be) still far more numerous than any other type of business organization.

4. Ownership and control ___ (to vest) in one person who ___ (to enjoy) all the fruits of success.

5. He ___ (to have) no need ___ (to consult) colleagues when changes of policy ___ (to require).

6. We should ___ (to expect) this type of organization ___ (to be) extremely flexible.

7. All his personal possession may ___ (to meet) creditors demand.

8. Finance ___ (to restrict) to the amounts which the entrepreneur is able ___ (to provide) from his own resources and whatever sums he can … (to borrow) on his own security.

 

 

I V . Translate into English :

1. Индивидуальный предприниматель определяет место своей деятельности и вкладывает в дело свой личный капитал.

2. При создании товарищества необходимо составить письменное соглашение о разделе капитала и дивидендов между участниками (Agreement of Capital and Dividends Share) и устав (Statute), где оговорены все положения об управлении товариществом.

3. Для товарищества предусмотрен ограниченный срок деятельности и неограниченная ответственность, по крайней мере, одного из партнеров.

4. Каждый из основных партнеров может действовать от имени товарищества.

5. Основные партнеры товарищества имеют неограниченную личную ответственность.

6. Создание корпорации – это наиболее сложный и дорогостоящий путь организации бизнеса.

7. Корпорации выпускают акции, которые определяют форму раздела собственности.

8. Собственниками корпорации часто являются не те люди, которые ею руководят (собственниками корпорации являются акционеры, а менеджеры – не обязательно).

9. Собственность корпорации юридически четко определена в отношении каждого собственника, что обусловливает определенную защиту взносов каждого акционера, или держателя акций.

10. Держатели акций имеют право посещать собрание акционеров и принимать решения по основным решениям, таким, например, как замена членов совета директоров, а иногда и президента.

V. Answer the questions:

1. What is one modern definition of business?

2. How does this modern meaning of business differ from the traditional one?

3. What factors have brought about these changes?

4. What does production involve?

5. What example of distribution is given in the reading?

6. Can you think of another example?

7. How do goods differ from services?

8. In addition to production, distribution, and sale, what other factor is important in defining business?

9. What is profit?

10. In general, what do companies do with their profit?

11. Compare your definition of business with the one given in the reading.

12. How are they similar?

13. In what ways does your definition differ from the one presented in the text?

14. What are the types of business organization to be found in the UK?

15. What is the simplest and oldest form of business enterprise?

16. What is the strength of the one-person business?

17. What are the disadvantages of this form of business organization?

18. Why is the one-person business less important compared with the joint stock company?

19. Where is the one-person business prevalent?

 

Литература

Основная: 4, 5 6.

Дополнительная: 4, 6, 7, 8.

TOPIC 5.

 COMPANY STRUCTURE

Organizations permeate all levels of our lives. Organizations exist for one reason: they can accomplish things that individuals cannot. Organizations are characterized by their goal-directed behavior. They have goals and objectives that can be achieved more efficiently and effectively by the concerted action of individuals and groups. Organizations are essential to the way our society operates.

To work effectively in organizations, managers must have a clear understanding of the organizational structure. Viewing an organization chart on a piece of paper or framed on a wall, one sees only a configuration of positions, job duties, and lines of authority among the parts of an organization. However, organizational structures can be far more complex than that. An organization’s structure is the formal pattern of activities and interrelationships among the various subjects of the organization.

Most organizations have a hierarchical or pyramidal structure, with one person or a group of people at the top, and an increasing number of people below them at each successive level. There is a clear line or chain of command running down the pyramid. All the people in the organization know what decisions they are able to make, who their superior (or boss) is (to whom they report), and who their immediate subordinates are (to whom they can give instructions). Some people in an organization have colleagues who help them: for example, there might be an Assistant to the Marketing Manager. This is known as a staff position. Yet the activities of most companies are too complicated to be organized in a single hierarchy. Today, most large manufacturing organizations have a functional structure, including (among others) production, finance, marketing, sales, and personnel or staff departments. This means, for example, that the production and marketing departments cannot take financial decisions without consulting the finance department.

Functional organization is efficient, but there are two standard criticisms. Firstly, people are usually more concerned with the success of their department than that of the company, so there are permanent battles between, for example, finance and marketing, or marketing and production, which have incompatible goals. Secondly, separating functions is unlikely to encourage innovation. Yet for a large organization manufacturing a range of products, having a single production department is generally inefficient. Consequently, most large companies are decentralized.

An inherent problem of hierarchies is that people at lower levels are unable to make important decisions, but have to pass on responsibility to their boss. One solution to this is matrix management, in which people report to more than one superior.

A further possibility is to have wholly autonomous, temporary groups or teams that are responsible for an entire project, and are split up as soon as it is successfully completed. Teams are often not very good for decision-making, and they run the risk of relational problems, unless they are small and have a lot of self-discipline. In fact they still require a definite leader, on whom their success probably depends.

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