Exercise 12 Answer the questions to the text

1. What forms of business organisation are widely practised in the world/in this country?2. Why do different types of business organisation exist? 3. What is the simplest and the oldest form of business enterprise? 4. What are the advantages and disadvantages of the one-person business? 5.What does limited/unlimited liability mean? 6. What are the most important differences between sole traders and corporations? 7. What are the alternative forms of business organization?
8. What is necessary to start a corporation? 9. What is the main difference between a Plc and a Ltd? 10. How can money be raised a) to start a sole trader, b) to start a public limited company? 11. How do shareholders participate in the operation of a corporation? 12. Why is the one-person business less important compared with the joint stock company?

Exercise 13 a) Put the types of business organisation into the correct box to complete the table.

B) Make a report on the forms of business organization. Compare them in terms of their assets, forms of raising capital, liability, strengths and weaknesses, their role and place in economies. Support your story with your own examples.

Exercise 14 Make ten common business expressions with the words below, e.g. sleeping partner, annual general meeting. Use some words more than once. Make sentences with them.

Exercise 15 Passive Infinitives. Infinitives can be used to describe things or people. Fill in infinitives in these sentences, using their passive forms.

e.g. The letter to be signed is on the table. – Лист, що потрібно підписати, лежить на столі.

Mr Smith is the owner of the company to be formed in our town. – Містер Сміт – власник компанії, яка буде створена в нашому місті.

1 The new business (to start) will be in the form of a limited company. 2. The part of the goods’ price (to pay) to the government is called taxes. 3. The board of directors (to elect) by our firm includes experienced managers and a well-known market expert. 4. The number of shares (to sell) to public was decided on at the General Meeting of the stockholders. 5. The amount of capital (to raise) will soon be estimated. 6. The manager studied a draft of the Contract (to make) with the foreign company. 7. The corporation charter (to discuss) states the objective of the future business. 8. Our company’s representatives made a request about the goods (to produce) by the Manufacturer. 9. The different types of business organization (to find) in the UK may be classified under five headings.

Exercise 16 Write a short summary, explaining which company you would prefer to work for in the future. Give several reasons and counter-arguments. For example:

In a public limited company (corporation) you can …. Furthermore, big companies allow you to …, because of …. Consequently, you can …. On the other hand, it is true that if you work for a small company (sole proprietorship), you can …. Nevertheless, I prefer big companies because …, even though … can be a disadvantage.

Words to Remember:

Advertising Department –відділ реклами

be in charge of – відповідати за

be in overall control – повністю контролювати

be responsible for – бути відповідальним за

chain of command – ланцюг інстанцій; ієрархія рівнів управління, що утворюється шляхом делегування повноважень та відповідальностей

Chief Executive Officer (CIO) – голова фiрми, виконуючий директор

Chairman of the Board – голова правління ради директорів

Chief Accountant –головний бухгалтер

colleagues –колеги

department (division) –відділ

Executive – керівник, адміністратор

freelance – позаштатний співробітник, що працює без контракту (вільний художник)

Legal Department –юридичний відділ

Logistics Department – транспортний відділ

make decisions – приймати рішення

Managing Director – керуючий директор

Personnel (Human Resources) Department – відділ кадрів

Production Department – виробничий відділ

Public Relations Department –управління громадських зв'язків

report to – доповідати, звітувати

Research and Development Department – відділ прогнозування і розвитку

Sales Department – відділ торгівлі і реалізації

sales representative – торгівельний представник

staff (personnel) – персонал, штат

stock-holding company – акціонерне товариство

subordinate – підлеглий

superior (supervisor) – керівник, начальник

supervise – керувати, спостерігати

workforce –робоча сила, трудові ресурси

Exercise 17 Easily confused words: personal / personnel.