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    1. Match the following sentences (1-11) with the words or phrases (a-k) on the right:

1. The holder of these has lent the company money but has no voting rights

a) a subsidiary

2. A group of six accountants have decided to form an association to carry on business in common and make a profit

b) group

3. The investors give these people the power to run the company

c) non-profit making

4. This company holds more than 50% of the voting shares in another company

d) stock-exchange

5. Members of the public can only invest in this company if they are invited to do so.

e) partnership

6. Investments in many companies can be made by buying shares on this market

f) directors

7. The public can be shareholders in this company

g) private limited

8. The golf club was set up with the intention of not making a profit

h) debentures

9. Fifty-one percent of the voting shares of this company are held by another company

i) public limited

10. This is the meeting which is held once a year for the shareholders

j) holding company

This exists when several companies are in a relationship of owning and being owned

k) annual general meeting

V The process of developing a corporate plan goes through several stages. Put the items (a-I) below in the correct place on the corporate plan:

    1. Setting corporate policies and deciding about where the organization wants to go in terms of performance and results.

    2. Identifying opportunities and threats and analyzing the major strength and weaknesses of the organization.

    3. Preparing action plans and setting targets for different departments.

    4. Analyzing production facilities and personnel currently at work and analyzing current trading activities.

    5. Agreeing on the strategies which the organization will adopt.

    6. Considering the expectations of the employees, the customers and the shareholders.

    7. Assessing possible future actions of competitors and studying economic forecasts and social trends.

    8. Reviewing the economic, political and social factors which are affecting the organization.

    9. Considering alternative strategies.

Developing

A corporate plan

Assessment stage:

- external environment

Analyzing raw materials, skilled labour and other resources which the organization can use and 1)…….

- organization

2)……..

- future

3)…….

- shareholders’ expectations

4)…….

Objective stage

5)………

Appraisal stage (SWOT)

6)………

Evaluation stage

7)………

Strategic plan

8)………

Operational planning

9)…….

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