Text 3 the structure of a company

Organization structure in business is very important. People in a company, its employees hold different positions.

The relationship between those employees with different positions makes organization structure.

At present most firms are divided into three major parts:

1) capital (shareholders), 2 ) management, 3) labour.

Let us take a typical company. There is a director who is a senior manager. He sits on the Board under the authority of the President. The Board decides what company policy and expenditure must be.

The chief executive officer (CEO) is the link between the Board and senior management.

As for middle managers, they run departments of a firm. They account to senior management for their area of work done.

There is a difference between executive directors and non-executive ones. The directors who run their firm on day-to-day basis are called executive directors. Those who sit on the Board and do not run the firm directly are called non-executive directors. In modern American English they use also the term inside directors for executive and outside directors for non-executive ones.

Text 4 advertising

In business they spend billions on advertising. Products and services are advertised through mass media including radio broadcasts, television, newspapers and magazines. They are also advertised through billboards, handbills, circulars, skywriting, through space advertising, booklets, give­aways and so on.

In small business they prepare their own copy and give it to newspapers, as a rule, or they mail circulars or form letters all by themselves.

In big business, however, they employ the whole army of specialists in the field of advertising. They work out advertising programmes, provide means for advertising purposes, discuss and solve many advertising problems with the owner or management of a company. As a rule, they advertise to sell their products and services through various advertising mass media.

To-day there are many types of advertising. We can classify the most popular of them: 1) television advertising; 2) radio advertising; 3) space advertising (newspapers, periodicals, house walls); 4) stores advertising (including special departments); 5) mail advertising (letters, calendars, catalogues, circulars, booklets, give-aways); 6) position advertising (street­car, train, bus, window cards, billboards).

What is an effective advertisement? It is one that attracts your attention. It is such an advertisement which keeps an honest information about a product or a service. It often has a clever and interesting picture or drawing, skilful use of colours. It is also put in the right place.

Apart from attracting your attention a good advertisement must hold your interest. What is more, a really effective advertisement induces action. You simply go and buy this very product. In a word, a good advertisement sells the product or the service.

Text 5 money

All values in the economic system are measured in terms of money. Our goods and services are sold for money, and that money is in turn exchanged for other goods and services. Coins are adequate for small transactions, while paper notes are used for general business. There is additionally a wider sense of the word "money", covering anything which is used as a means of exchange, whatever form it may take. Originally, a valuable metal (gold, silver or copper) served as a constant store of value, and even today the American dollar is technically "backed" by the store of gold which the US government maintains. Because gold has been universally regarded as a very valuable metal, national currencies were for many years judged in terms of the so-called "gold standard". Nowadays however national currencies are considered to be as strong as the national economies which support them.

The value of money is basically its value as a medium of exchange, or, as economists put it, its "purchasing power". This purchasing power is dependent on supply and demand. The demand for money is reckoned as the quantity needed to effect business transactions. An increase in business requires an increase in the amount of money coming into general circulation. But the demand for money is related not only to the quantity of business but also to the rapidity with which the business is done. The supply of money, on the other hand, is the actual amount in notes and coins available, its value decreases, and it does not buy as much as it did, say, five years earlier. This condition is known as "inflation".