2016

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ББК 81.432.1

Литвинова, Ю. А. Иностранный язык. Английский язык. English for Economists

38.03.02 – Менеджмент / Ю. А. Литвинова ; М-во образования и науки РФ, ФГБОУ ВО «ВГЛТУ». – Воронеж, 2017. – 24 с.

Печатается по решению учебно-методического совета ФГБОУ ВО «ВГЛТУ» (протокол № 4 от 12 мая 2017 г.)

Рецензент директор Центра коммуникативных исследований ФГБОУ ВО «ВГУ» д-р филол. наук, проф. И.А. Стернин

Литвинова Юлия Алексеевна

ИНОСТРАННЫЙ ЯЗЫК АНГЛИЙСКИЙ ЯЗЫК

ENGLISH FOR ECONOMISTS AND MANAGERS

Методические указания к практическим занятиям для студентов по направлениям подготовки 38.03.01 – Экономика, 38.03.02 – Менеджмент

Редактор Е.А. Богданова Подписано в печать 07.06.2017. Формат 60×90 /16.

Усл. печ. л.1,5. Уч.-изд. л. 1,63. Тираж 40 экз. Заказ ФГБОУ ВО «Воронежский государственный лесотехнический университет

имени Г.Ф. Морозова» РИО ФГБОУ ВО «ВГЛТУ». 394087, г. Воронеж, ул. Тимирязева, 8

Отпечатано в УОП ФГБОУ ВО «ВГЛТУ». 394087, г. Воронеж, ул. Докучаева, 10

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Оглавление

Unit 1…………………………………………………………………………4 Unit 2…………………………………………………………………………5 Unit 3…………………………………………………………………………7 Unit 4…………………………………………………………………………8 Unit 5………………………………………………………………………..10 Unit 6………………………………………………………………………..11 Unit 7………………………………………………………………………..13 Unit 8………………………………………………………………………..15 Unit 9………………………………………………………………………..17 Unit 10………………………………………………………………………19 Unit 11………………………………………………………………………21 Unit 12………………………………………………………………………22

Библиографический список ………………………………………………24

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UNIT 1

Exercise 1. Read and translate the text.

THE SOLE PROPRIETOR

Different types of business organization may be classified under five headings: the sole proprietor, the partnership, the joint stock company, the co-operative society, and the public corporation.

The sole proprietor is the simplest and the oldest form of business enterprise and often referred to as the one-person business. A single person provides the capital, takes the decisions, and assumes the risks. He or she is solely responsible for the success or failure of the business and has the sole rights to such profits as may be made, or bears the sole responsibility for such losses as may accrue.

The strength of this type of firm lies in the direct personal interest of the proprietor in the efficiency of his enterprise. Ownership and control are vested in one person who enjoys all the fruits of success and has a great incentive to run the firm efficiently? This type of organization is expected to be extremely flexible and capable of quick and easy adjustment to changes in market conditions.

The great disadvantage of the sole proprietor lies in the fact that the owner is personally liable for the debts incurred by his firm and his liability is unlimited. All his personal possessions are at risk and may be seized to meet creditor's demands. Another, disadvantage of this type of firm is the strict limitation of its ability to .acquire capital of expansion. Finance is restricted to the amounts which the entrepreneur is able to provide from his own resources and whatever sums he can borrow on his own security.

We find the one-person business prevalent in farming, forestry, retailing, building, and repair work.

Exercise 2. Make the sentences

1The one-person, the sole, business, is, proprietor.

2The risks, person, assumes, a single.

3Expected, this, flexible, to be, type, is, of organisation.

4All, one, the fruits, enjoys, of success, person.

5In, vested, control, person, is, one.

6Person, capital, provides, a single, the.

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7Profits, he, rights, has, the sole, such, to.

8The oldest, of business, is, form, proprietor, the sole.

9Unlimited; his, is, liability.

10Possessions, at risk, personal, his, are, all.

11Resources, provides, finance, he, from, own, his.

Exercise 3. Put special questions to the marked words

1The sole proprietor is often referred to as the oneperson business.

2She is solely responsible for the failure of the business.

3The strength of this type of firm lies in the personal interest of the proprietor.

4A single person provides the capital.

5He bears the sole responsibility for such losses as may accrue.

6The firm is capable of quick and easy adjustment to changes in market conditions.

7Finance is restricted to the amounts which the entrepreneur is able to provide.

8Another disadvantage of this type of firm is the limitation of its capital.

9The owner is personally liable for the debts incurred by his firm.

10All his possessions are seized to meet the creditor's demands.

11He husjhe sole rights to such profits as may be made.

UNIT 2

Exercise 1. Read and translate the text.

THE PARTNERSHIP

Partnerships are voluntary combinations from 2 to 20 persons formed for the purpose of carrying on business with a view of profit. This type of organization represents a logical development from one-person business since the obvious method by which such a firm may acquire further capital is to form a partnership. The motive, however, may not be financial and partnerships are often formed in order to bring new ability and enterprise into the business.

Partners usually specialize in one or more aspects of business, one may be responsible for buying, one for selling, one for production, and so on. A person who joins

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a partnership, supplying capital and sharing in the profits, but taking no part in the management is known as a sleeping partner.

The advantages of this type of firm are similar to those of one-person business. It is a flexible organization which allows a greater degree of specialization than the one-person business. Since it has greater access to capital, it can achieve greater size than the sole proprietor.

The great disadvantage is the fact that the liability of the partners is unlimited and they are fully liable for the acts of the other partners. There are, however, some limited partnerships. In such firms some partners may have their liability limited to some specified sum, but at least one of the partners must have unlimited liability.

The survival of a partnership depends upon the continued harmonious relationship between a number of people in situations which often give much cause for disagreement. Where trading risks are very great, the partnership is not a very stable type of organisation.

Exercise 2. Find the answers in the text

1. What is the partnership?

2. What is the purpose of the partnership?

3. What is the method to acquire further capital? 4. What are the motives to form the partnership? 5. What are partnerships often formed for?

6. Who is responsible for buying, for selling, and for production in the partnership? 7. What is a sleeping partner?

8. What is the difference between the partnership and the sole proprietor? 9. What is the great disadvantage of the partnership?

10.What is the liability of the partners?

11.What are the situations which often give much cause for a disagreement?

12.Where is the partnership unstable?

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UNIT 3

Exercise 1. Read and translate the text.

THE JOINT STOCK COMPANY

The most important form of business organization is the joint stock company. It consists of an association of people who contribute towards a joint stock of capital for the purpose of carrying on business with a view to profit. A company may be defined as a legal person created to engage in business, capable of owning productive assets, of entering into contracts, and employing labour in the same way as an individual.

There are two kinds of joint stock companies, the private company and the public company. In general, private companies are small firms, often consisting of the members of one family. The public companies are much larger units and account for about two-thirds of all the capital employed by companies. Both public and private companies must have at least 2 members.

A private company must include the word «Private» in its name while a public company must have the words «public limited company» at the end of its name although this can be abbreviated to pic.

The basic distinction between a private and a public company is that a public company can offer its shares and debentures for sale to general public. In the case of a private company it would be a criminal offence to ask the public to subscribe to its shares.

All companies must file annually details of their turnover, profits, assets, and other financial information about the structures and activities.

Exercise 2. Find the predicate and make it negative

1The most important form of business organisation is the joint stock company.

2It consists of an association of people.

3They contribute towards a joint stock of capital for the purpose of carrying on business.

4A company is defined as a legal person created to engage in business.

5This company is capable of entering into contracts.

6There are two kinds of joint stock companies.

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7Private companies are small firms, often consisting of the members of one

family.

8The public companies are much larger units.

9Both public and private companies have at least 2 members.

10A private company includes the word "limited" in its name.

11A public company offers its shares and debentures for sale to general public.

12All companies file their financial information about the structures and activities.

Exercise 3. Make sentences

Exercise 1. Read and translate the text.

CO-OPERATIVES

There are basically two forms of co-operative enterprises, one which operates on the basis of worker control and one on the basis of consumers' control.

The idea of workers establishing their own production units, raising the capital by their own efforts, electing the management from their own ranks, and sharing the profits according to some agreed formula, is quite an old one. Some of these workers' cooperatives have been launched with government money and have been established as a result of workers' refusal to accept management's views that the firm is not viable and must be closed down. This type of business organization has proved very successful in agriculture and forestry. The basic principles on which the consumers' co-operatives are founded are:

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1) the society is owned by the customers who purchased at least one share; 2) the profits are distributed according to the value of a member's purchase and are known as dividends; 3) the society is democratically controlled on the basis of 'one member vote'.

The members of each society elect a management committee which is responsible for the general policy, but the day-to-day operations are in the hands of full-time salaried officials appointed by the management committee. The Coops have been forced to merge themselves into larger units in order to obtain the economies of scale to compete with the very large retail organizations which have developed in recent years. Nowadays the co-operative societies seek to widen their markets and to extend the workers' and consumers' control both through their own activities and in supporting political movements which advocate their principles.

Exercise 2. Make the sentences negative and interrogative … ask questions

1The members of each society elect a management committee.

2The full-time officials are appointed by the management committee.

3The day-to-day operations are in the hands of full-timed salaried officials.

4The Coops have been forced to merge themselves into larger units.

5They compete with the very large retail organisations.

6Very large retail organisations have developed in recent years.

7The co-operative societies seek to widen their markets.

8The Coops extend the workers' and consumers' control.

9The society is democratically controlled.

10Some political movements advocate their principles.

11The profits are distributed according to the value of a member's purchase.

12These workers' co-operatives have been established as a result of workers' refusal to accept management's views.

Exercise 3. Write out a few short sentences from the text about

a)two forms of co-operative enterprises;

b)the workers' co-operatives;

c)the consumers' co-operatives.

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UNIT 5

Exercise 1. Read and translate the text.

THE PUBLIC CORPORATION

In recent years whenever the state has decided to transfer the ownership of an industry from the private sector to the public sector, the public corporation has been the type of business organization adopted for the purpose of running the industry.

The public corporation is a separate legal identity like the company, but there are no private shareholders. The government owns the capital and appoints the members of the controlling board who have functions very similar to directors except that they are answerable to the government and not to shareholders.

In its day-to-day management, however, the controlling board is given wide freedom of action. When commercial enterprises were brought under public ownership it was felt that the direct control by Parliament was not appropriate for enterprises where uncertainty and risk-taking called for quick decisions of a strictly commercial nature. The public corporation, therefore, is an attempt to obtain a satisfactory compromise between public responsibility and commercial efficiency.

The main purpose of the public corporation is to provide an efficient public service at a reasonable price. It does not aim to maximize its profits, but it is charged with the duty of paying its way. Any profits made by a public corporation must be used for capital investment, the lowering of prices, or the raising of wages. Such losses as have been made by public corporations have been financed by government loans.

While the joint stock company exists primarily for the purpose of making profits, the aim of the public corporation is to act in the public interest and to cover its costs.

Exercise 2. Answer the questions

1What has the state decided to do in recent years?

2What has been adopted for the purpose of running the industry?

3What is like the public company?

4Who owns the capital?

5Who appoints the members of the controlling board?