17. Translate the following sentences and explain the use of tenses

1. The new exhibition has been visited by many foreign tourists.

2. This article on management information systems has been written by our

professor.

3. By the beginning of the lecture all the necessary diagrams will have been

brought by the laboratory assistant.

4. Our reports will have been finished by the end of the semester.

Self-Study

18. Cumulative review exercises (Essential Grammar Appendix p.P.)

1. We realized that independent businesses were doing a better job serving their

customers.

2. When the ATM had been invented the people didn't want to trust their money

to it.

3. My father had experience setting up distribution centers as the founder of

FedMart, a discount department store chain.

4. We’ve invited them for negotiation but we’ll have to put it off because the

documentation is not ready yet.

5. Mercedes has shifted some assembly to South Korea and Mexico.

6. The ability to generate high-quality, low-cost products that the market has ever

seen before is the lynchpin of Japan’s corporate growth.

7. Once you’re put on a team, there is an almost continuous training in new

methods and procedures and system updates.

8. Every manager at the jewelry store knows that most fine pearls will have

been housed in an oyster at least two or three years, and much longer for the

bigger South Sea pearls.

9. She has not visited us since she graduated from the University and went to the

Far East to work.

10. When the engine had been examined the driver started the car.

11. I shall have bought the magazine before you come.

12. When the ATM had been invented the people didn't want to trust their

money to it.

13. Public opinion is a force that has been reckoned with in all civilizations.

14. We’ve invited them for negotiation but we’ll have to put them off because

the documentation is not ready yet.

20. HOMEREADING. Read the supplementary text on pages 106-107.

_______________________________________________________Lesson 6

1. 1. PHONETIC DRILL

1.1 Mind the pronunciation of the following words with the italicized silent letters

• honest honour hour honourable

• wrong write wrangler wreath wreck wrestle

• doubt doubtful debt prompt attempt

1.2 Recollect the rules of reading the words with the letter g

giant, great, George, give, goal, age, get, general, ginger, grant, girl, begin, gym, gypsy, disarrange, strategic, degree, advantage

2. Read the text

The reasons for developing a business plan

1. If you don’t know where you are going, how will you know when you are lost? We can use the phrase when speaking about the necessity to develop a plan for any of your ideas or businesses. Quite possibly, you will develop a plan because someone else wants you to do so. Perhaps the bank requires a business plan *before granting you a loan1. May be an investor or venture capitalist needs one to decide whether to finance your business. Or your attorney or accountant said you must have one. The company president is demanding a strategic plan for your new division. 2. There are always enough reasons. *But entrepreneurs are self-motivated people2, used to setting their own goals and determining their own tasks. *They undertake endeavors3 not merely to please others, but because they understand the importance of an activity *in reaching their overall objectives4.

"With the first edition of your plan you shouldn't even think about getting money. Use the planning process to decide if the business is really as good as you think it is. Ask yourself if you really want to spend five years of your life doing this. Remember, that’s about 10% of your active working life, so seriously examine whether the enterprise could really be worth-while to you." Eugene Kleiner Venture Capitalist

3. The attitude means a lot. Creating a business plan only as a response to an external request makes the process seem like a burden instead of becoming an opportunity to create a thriving business and to fulfill your dreams.

4. As you start developing your business plan, keep in mind that the greatest beneficiary of this project is not your banker, investor, or accountant – it’s you. A complete, thoughtful business plan is perhaps the best tool you can have to help reach your own long - term goals.

5. Whether your business is large or small, a startup or long established, developing a business plan enables you to:

• Make the crucial business decisions that focus your activities and maximize your resources.

• Understand the financial aspects of your business, including cash flow and *break - even requirements⁵.

• Gather crucial industry and marketing information.

• Anticipate and avoid obstacles your business is likely to encounter.

• Set specific goals and measurements to assess progress over time.

• Expand in new and increasingly profitable directions.

6. Be more persuasive. Remember: when you start or expand a business, more than your money and time are at stake. You risk your dreams as well. A good business plan helps you realize your dreams.