16. Read and translate the following sentences explaining the functions of words ending in -ing

1. Proper relation between theory and practice must be observed in training young specialists.

2. The students get their practical training while they are working at different firms.

3. From the very beginning the students are made responsible for their work.

4. Such an arrangement is leading to better understanding of a speciality, namely, to its application in daily practice.

5. Simple adding machines were known as far back as the 17th century.

6. In modern computers transistors are used for performing complicated operations.

Self-Study

Cummulative review test

17. Translate the sentences.

1. Newton’s having established the law of inertia has provided scientists with a

means for setting satellites on proper orbits.

2. While he was studying at Cambridge his favourite occupation was

experimenting.

3. The Online Small Business Workshop is a highly-detailed and online course

on arming new business owners with the tools they need to start a new

business.

4. When gathering information for your business plan, you can spend

considerable time learning about your market.

5. Having recognized the need of your market you could develop positive means

to meet this need.

6. For improving their knowledge in any particular field of science the students

use the materials available in the reading-room or in the library.

7. The American public relations experience dates back to the founding of the

Republic.

8. To create a quiet port basin and provide safe accommo­dation for the ships the

harbour should be protected from the wind and wave actions by special

engineering works if shel­tering has not been provided by nature.

10. A person can’t be successful without clear understanding of goals in his life.

11. It goes without saying.

12. The term “engineering” means the art of designing, construction or using

engines.

13. I’m seriously thinking about buying a house for my family.

14. There are embassies, cycling and walking tracks and lakes in many parts

of Canberra.

15. Opera House with its striking architecture is the symbol of Sydney together

with the bridge across the natural harbour.

16. In working for the Rockefellers, Ivy Lee tried to humanize them, to feature

them in real-life situations such as playing golf, attending church, and

celebrating birthdays.

18. Translate the following sentences into English

1. Не могли бы вы установить цены и условия поставки?

2. Сообщите нам, пожалуйста, расценки.

3. В свой бизнес-план для нового магазина мы обязательно включаем ту популярность, которую заработал наш нынешний магазин.

______________________________________________________Lesson 14

1. Read the text the executive summary

If they don’t understand it at first,

they won't understand it at all.

1. The Executive Summary is crucial. Without a doubt, the single most important portion of any business plan is the Executive Summary. *If you can't prepare a clear, concise, and compelling condensation of your business plan right up front¹, no one will spend time wading through the rest of your plan. No matter how beneficial a product, how lucrative a market, or how innovative the manufacturing techniques, it is the Executive Summary alone that persuades a reader to spend the time to find out about your product, market, and techniques.

2. Although the Executive Summary appears first in the completed document, it reflects the results of all business planning and should be crafted only after careful consideration of all other aspects of a business. Some venture capitalists prefer to receive just a Summary and Financials before reviewing an entire plan. If you want to send out only a “concept paper” to gauge investor interest *before submitting a complete business plan², the Executive Summary should serve as that document. As important as the financial considerations are to investors and bankers, *it is the Executive Summary that first convinces them that yours is a well conceived and potentially successful business strategy³.

3. Even if the business plan is for internal use only, the Executive Summary is still crucial. The Summary is the place where one brings all thoughts and planning together, where a whole is made out of the disparate parts of a business, and where all that one proposes “is summed up”.

4. Depending on the nature of a business and the capability of the writer, the Executive Summary can be approached in one of two ways: the synopsis Summary or the narrative Summary.

5. The synopsis Summary is the more straightforward of the two: it simply relates, in abbreviated fashion, the conclusions of each section of the completed business plan. Its advantage is that it is relatively easy to prepare and less dependent on a talented writer. The only disadvantage is that the tone of a synopsis Summary tends to be rather dry.

6. The synopsis-style Executive Summary covers all aspects of the business plan and treats each of them relatively equally, although briefly. In addition, it tells the reader what is being asked for in the way of financing, which is also stated in the cover letter.

7. The narrative Summary is more like telling the reader a story; it can

convey greater drama and excitement in presenting a business. However, it takes a capable writer to prepare a narrative Summary that communicates the necessary information, engenders enthusiasm, and yet does not cross over the line into hyperbole. A narrative Executive Summary is useful for businesses that break new grounds, either with a new product, new market, or new operational techniques, which require considerable explanation. It is also more appropriate for businesses that have one dominant element – such as holding an important patent or the participation of a well-known entrepreneur – that can be highlighted. Finally, the narrative Executive Summary works well for companies with interesting or impressive backgrounds or histories. A narrative style Executive Summary has fewer sections than the synopsis Summary. Greater emphasis is placed on the business concept and distinctive features, and less attention is given to operational details.

8. A narrative Summary may do more “scene-setting” – recounting the sociological or technological changes that have led to the development of company’s products or services. It may be more personal, telling how the founder’s relevant experiences motivated them to start the company.

9. The topics of a narrative Summary may be placed in any order that best showcases the company. The topics do not have to be covered equally; the business concept may be described in three paragraphs and the management team in only one or two sentences.

10. With a narrative Summary, you want to get the reader excited about your company; you do this by taking the one or two most impressive features of your company and giving the reader an understanding of how those features will lead to business success.

11. Do not feel it is necessary, however, to use a narrative Summary. Most businesses are well served by a synopsis Summary, especially if the business concept is easily understood and the marketing and operations relatively standard. A synopsis is a very businesslike approach, and experienced business plan readers are comfortable reviewing such straightforward Executive Summaries.

12. Length and design of the Summary. The great advantage to the reader of the Executive Summary is that it is short. A busy funder must be able to read your Summary in five minutes or less. Thus, an Executive Summary should be no more than two to three pages in length. A one-page Summary is perfectly acceptable. Remember to use white space to make the page less intimidating. Bullet points can also be used effectively in the Summary. Since you are limited to so few pages it may seem frustrating to have to give up space for visual considerations, but these techniques make your plan more inviting to the reader.