MODULE 1 Business and businesses

Lesson 1

Text: Business Organization

Grammar: Present Simple and Present Continuous

Terms to remember:

needs		потреби
satisfy (v)		задовольняти
survive (v)		вижити; продовжувати існувати
depend on (v)		залежати від
consumption		споживання
business		бізнес, комерційна діяльність, торгове підприємство, фірма, справа, заняття
firm		фірма
company		компанія, фірма
vary (v)		відрізнятися; змінюватися
profit		прибуток
provide services (v)		надавати послуги
corporation		корпорація
multinational		міжнародна, мультинаціональна корпорація
enterprise		підприємство, фірма, корпорація
set up a business (v)		створювати бізнес
establish a business (v)		створювати бізнес
start-up		нещодавно створена компанія
be in business (v)		займатися торгівлею, займатися бізнесом
run a business (v)		керувати підприємством
do business (v)		вести бізнес, займатися бізнесом
trade (v)		торгувати
deal with (v)		займатися (чимось); бути клієнтом, купувати (у когось)
go out of business (v)		ліквідувати підприємство
expand a business (v)		розширювати бізнес
specialize (in something) (v)		спеціалізуватися
diversify (v)		урізноманітнити, варіювати
owner		власник
affect (v)		діяти на

Business Organization

The economic system is made up of people with basic needs that they must satisfy to survive. As most people cannot produce all the goods and services they need, we depend on other persons or businesses to make them for our consumption.

Business is the activity of producing, buying and selling goods and services.

A business organization is a firm, a company or a business that makes, buys or sells goods, or provides services, to make a profit.

Businesses vary in size.

Large companies are referred to as corporations. Many consider the corporation the ideal way to organize business. Large companies operating in many countries are multinationals.

Big business can refer to large business organisations or to any business activity that makes a lot of money.

Small companies which do not employ many people and earn relatively little money are referred to as small businesses or small firms. We can also call a small business a small – to medium – sized business, or SMB.

An enterprise is a company or business often a small one. It may be called so to emphasize its risk-taking nature.

Commerce refers to the activities and procedures involved in buying and selling things.

When we start a business we talk about setting up a business or establishing a business. New businesses are called start-ups. Once a business has been established we talk about being in business or running a business.

To do business means to trade or deal with a company or country. It’s not easy to organize a business and to operate it successfully. When a company is not successful, it may go out of business.

The economic situation, as well as decisions taken by the owners of a company, affect how it grows and changes. You may expand your business, specialize in something, you may also diversify your business.

Exercises in Word Study

Ex.2. The following diagram shows some very commonly used nouns with the adjective “corporate”. Study the diagram, consult your dictionary and translate these word combinations into Ukrainian. Make up sentences with them.

Ex.4. Match words from list a with words from list b that have a similar meaning.

A	B
depend on firm set up a business go out of business run a business expand a business affect profit needs	necessities of life gain sell out a business establish a business enlarge a business operate a business company influence rely on

Ex.8. Study the following diagram and fill in the blanks with suitable words from the diagram.

1. I have a few contracts in the ... Business.

2. It was a mistake to ... with my brother.

3. After talking about the weather, we ... about the contract details.

4. Sheryl’s parents ... a small clothing business.

5. That house has strange people coming and going. I think there is ... business there.

6. For Jack, golf is a ... business.

7. They really .... If you don’t pay them by next week, they are going to take you to court.

8. She has been in ... business for 10 years.