1. Перекладіть тексти рідною мовою та готуйтесь переказувати їх англійською.

Entrepreneurship

According to experts on the subject, ‘entrepreneurship is the process by which individuals-either on their own or inside organizations- pursue opportunities without regard to the resources they currentky control’. In effect, entrepreneurs look beyond current resource constraints when they envision new possibilities. Entrepreneurs are preoccupied with ‘how to’, rather than ‘why not’. Entrepreneurs are risk takers – and all they want is a chance.

A Trait Profile for Entrepreneurs. Exactly how do entrepreneurs differ from general managers or administrators? Entrepreneurs tend to be high achievers who focus more on future possibilities, external factors, and technical details. Also, compared with general administrators, entrepreneurs are more comfortable with ambiguity and risk taking. It is important to note that entrepreneurs are not necessarily better or worse than other managers – they are just different.

Entrepreneurship Has Its Limits. Many successful entrepreneurs have tripped over a common stumbling block. Their organizations outgrow the entrepreneur’s ability to manage them. In fact, according to ‘a poll by PriceWaterhouseCoopers, about 40 percent of CEOs at the fastest-growing companies said that their own ability to manage or reorganize their business could be an impediment to growth’. Some refer to this problem as ‘founder’s disease’. Moreover, entrepreneurs generally feel stifled by cumbersome and slow-paced bureaucracies. One management consultant praised Microsoft’s Bill

Gates for knowing his limits in this regard: “ In January 2000, Gates went from being

CEO of the multibillion-dollar business he cofounded to naming himself ‘chief software architect’ and handing over executive responsibility for his company to Steve Ballmer.

… few people recognized it for what I think it was: a courageous leap into a self-esteem-threatening black hole”.Entrepreneurs who launch successful and growing companies face a tough dilemma: either grow with the company or have the courage to step aside and turn the reins over to professional managers who possess the administrative traits needed.

Small-Business Management

Small business have been called the “engine” of the U.S. economy. They are often too small to attract much media attention, but collectively they (and their counterparts in other countries) are a huge and vibrant part of the global economy. As evidence, consider these facts about the 5.6 million small businesses in the United States:

• They represent 99 percent of the nation’s employers.

• Each year they account for more than one-quarter of the nation’s 1.4 trillion dollars in business capital investment.

Interestingly, about 60 percent of them are “microbusiness” with fewer than five employees, typically operating out of the owner’s home. Free-enterprise capitalism is a rough-and-tumble arena where anyone can play, but only the very best survive. The only quaranteed result for those starting their own business is that they will be tested to their limit.

Few would dispute the fact and claims cited above, but agreement on the definition of a small business is not so easily reached. Some of the many yardsticks used to distinguish small from large businesses include the number of employees, level of anuual sales, amount of owner’s equity, and total assets. For our present purposes, a small business is defined as an independently owned and managed profit-seeking enterprise employing fewer than 100 people. (If the small business is incorporated, the owner/manager owns a significant proportion of the firm’s stock).

The health of every nation’s economy depends on how well its small businesses are managed.

Grammar