1.Акционерный капитал. Виды ценных бумаг. Способы привлечения капитала. Паевые инвестиционные форды.

Company shares can be bought when a firm starts trading or issues more shares, or when other investors are selling their shares. If a company makes a profit, some of it is shared among the share and debenture holders.

Some types of shares are a gamble, some are less risky.

Debentures

• not shares but direct loans to a company

• fixed interest (not depending on company’s profit)

• are always paid first (before shareholders)

• may be bought and sold on the Stock Exchange

Preference shares

• fixed rate of interest (if the company has made enough profit to paу it)

• paid after debenture holders, before ordinary shareholders

• return gua­ranteed as long as there’s a profit

• voting rights limited (little control over the company)

Cumulative preference shares

• if profit is not enough in any year to pay the full interest it is made up to cumulative preference shareholders in later years when money is available

Ordinary shares (eqиities)

• paid after preference shareholders

• dividend directly depend on profits

• largest risk

• considerable voting rights (more control of the business)

Blue chip shares

• in well-known companies with reliabIe and efficient management

• carry less risk than other ordinary shares

Deferred shares (founders shares)

• paid last of all what may be left over from the profits

• strongest voting rights (often held by the people who started the company) and give more control over the firm and its directors

Rights issue

• extra shares offered to existing shareholders at a price below that which they would fetch on the market

• shareholders may sell their 'right' to buy these shares

• are good investment (because of low cost)

Unit Trusts – organizations that enable people with limited savings and little financial knowlege to invest in а wide range of stocks and shares without paying high Srock Exchаnge charges. The Trust managers offer Units for sale directly to the public: with the money received they buy shares in many companies and/or Government stocks.

2. Предпринимательская революция. Молодые предприниматели (преимущества и недостатки).

In modern globalizing world young entrepreneurs are not a rare case. 1 of 8 startup businesses today is founded by a person aged 16 to 24.

Advantages:

• Possibility to become a self-made millionaire in your early years

• Lots of organizations to help you (special trusts and helplines)

• Customers believe you don’t have preconcieved ideas and choose you

• Being self-employed means you can keep all your profit (+secrecy of financial records)

• The simplest from of business

Disadvantages:

• Success comes at a price (you have to work very hardly, have no free time + give up your social life)

• High risk of failure (beacause of shartage of business and real life experience)

• Difficult to raise the initial capital (to find money to start your business)

• Customers often percieve you with prejudice (they think you are naive and inexperienced)

3.Понятие розничной/оптовой торговли. Проблемы британских предпринимателей на американском рынке в рамках знания культурных особенностей размера инвестиций, учета конкуренции и расположения торговых точек. Факторы успеха.

Retailing and wholesale

Wholesale – sale of commodities(товары) in quantity for resale.

Retailing – selling products to general public.

Outlets – shops or stores for retailing.

Large retail chains are organized nationally and sell standardized selection of products

(their outlets in shopping centres (US malls): large variety of stores in the same location).

Hypermarkets (over 30,000 sq. m.) or superstores (under 30,000) – of town locations with parking facilities.

Department stores – large shops which sell a wide variety of products, usually from a city centre location (organized in departments, each with own manager).

Problems of British retailers in the US market:

• lack of cultural awareness (assume that US and UK consumers have same tastes-what can be perceived as traditional, high quality merchandise in the UK may appear in US to be old fasioned)

• difference in whole structure of the industry and the way how the outlets organised (us market is dominated by the malls, UK failed to grasp the size factor, not able to adapt to huge US market)

• underestimating the competition (US retailers – aggressive players, consumers – bargain hunters, industry changes quickly, requires flexibility and being dynamic)

• choosing wrong places for stores (expensive town centre locations)

Richer Sounds' Keys to Success in Rretail Business:

• end-of-line or surplus equipment

• suppliers – manufacturers hoping to off-load the end-of-line equipment (often at a discount price)

• outlets – 28 small stores in UK (walk-in warehouses), “bargain bins”, special offers, equipment stacked from floor to ceiling, banners hanging

• regular advertising in national newspapers (they buy late space at a discount)

• customer service training: not to be pushy, to take responsibility, follow the correct administrative procedures, attend training seminars at Richer’s country house

• free phone number on customer receipts to dial in case of problem

• seasonal gifts and gifts-away offered

• staff motivation: customer service competition – win a car and petrol for month, gold aeroplane badges handed out to “high fliers”

Safeway Superior Service Program

• eye contact with the customer

• smile, greet, offer samples of products, accompany to locate items, thank shoppers by name

• “mystery shoppers” to control performance

• staff motivation: $500 worth of company stock, additional bonuses

• side effects: customers’ debates about false and genuine frendliness, misinterpretation of friendliness, growing morale problems among the staff