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e.g.
1)improvement/involvement/ popularity/development
2)share/market/size/growth
3)specific/formal/face-to-face/accurate
4)labour/public/departmental/ external
5)days/scales/claims/demands
6)training/promotion/decentralization/decision-making
7)popular/publicity/in-house/do-it-yourself
8)politics/policies/portfolio/prestige
9)programmes/levels/promises/reviews
10)notice/consideration/help/publication
11)freelance/quick/regular/standard
12)personnel/representatives/staff/executives
C. There are four main types of business ownership in the private sector of the economy: public limited company (PLC), partnership, sole trader & private limited company (Ltd.). Put each one into the correct box to complete the table.
1 Sole trader |
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2 |
3 |
4 |
one person |
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owned by two |
a registered |
a registered company |
provides all |
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or more people |
company with |
whose shares can be |
the capital |
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who contribute |
restricted share |
bought and sold on the |
|
|
capital |
transfer |
Stock Exchange |
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|
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Unlimited liability |
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Limited liability |
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(the personal assets of the owner(s) can |
(liability for business debts is limited to the |
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be taken to pay any business debts) |
amount of capital subscribed) |
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Follow-Up Activities
1. Describe the general organization of your company or one you know.
2. Choose two departments of a large company and describe their functions in detail.
3. What are the advantages of working for a smaller firm? (wider range of activities etc.)
File 1
4. How is internal communication organized in your firm? And how could it be improved?
5. The type of business most likely to fail is that of the sole trader. Why should this be so?
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File 1
Glossary
Make sure that you know these words. Find Russian equivalents to them.
a high-quality range of goods – a group of goods of high quality
headquarters (HQ) – the main office of an organization where the people work who control a large organization such as the army, police or a big company
revenue – the income that a government or company receives regularly subsidiary = affiliate – a company which is owned by a larger (parent) company distributor – a company that sells products for a company that makes them
to invest – to put money, effort, time etc. into something to make a profit or get an advantage
multinational corporation – the company which operates in many different countries export-oriented company – a company that looks for overseas markets
to market – to offer for sale
to compete – to try to be more successful than someone or something else
to contact smb – to communicate with someone by telephoning them or sending them a letter, email, etc
to run a company/an organization – to control; to be in charge of and cause to work coverage – the amount of time and space given by television, a newspaper, etc. to a particular subject or event
total sales – sales by all manufacturers; the whole value of the goods sold by an organization in a given period
to be concerned about (for) – to be worried purchasing pattern – the regular way in buying goods
to maintain the market share – to keep the market share at the same level
forecast – a description of what is likely to happen in the future based on the inform that is available now
Θ The Can-Am Sports Corporation of Canada is the largest producer of baseball and American football equipment outside the US. Its distributor in Europe is Touchline
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Trading UK. Interest in these sports is growing fast in Europe. Can-Am’s sales in the European market are also growing fast. However, Can-Am is concerned about Touchline.
Read this extract on Can-Am Sports from the international company handbook
GENERAL
Can-Am is a Canadian corporation which manufactures and sells a high quality range of baseball and American football clothes and equipment.
Can-Am is a multinational corporation with headquarters in Toronto.
It is the largest manufacturer of American sporting goods outside the US.
INTERNATIONAL
75% of Can-Am’s annual revenue comes from export sales.
The group has major subsidiaries in the US, South Korea, and the Philippines.
It sells its products in Europe through an exclusive distributor. Touchline Trading UK.
FUTURE TRENDS
More export-oriented than its bigger US competitors, Can-Am is expected to invest heavily in the growing European market.
Group sales abroad are expected to grow at an annual rate of 22% for the next three years.
Θ Now listen to a recorded summary of the extract.
Exercise 1. Find the definition (1-7) for each of the words (a-g) below.
a) |
multinational corporation |
1) several companies in the same organization |
b) |
manufacturer/ producer |
2) a business run for profit |
c) group |
3) a company which operates in many different countries |
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d) distributor |
4) a company that is owned by a parent company |
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e) subsidiary/affiliate |
5) a company that makes products with machines |
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f) company |
6) a company that looks for overseas markets |
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g) export-oriented company |
7) a company that sells products for a company that |
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|
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makes them |
Exercise 2. Tick the correct facts.
Can-Am has one distributor in Europe. √
a)Can-Am’s administrative centre is in Toronto.
b)Can-Am’s products are excellent.