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Файл:Английский язык для менеджеров. Учебное пособие
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UNIT 5. TYPES OF BUSINESS ENTITIES & BUSINESS ETHICS
Exercise 2. Read and translate the following quote.
1. Explain how you understand it.
2. Say whether you agree or disagree with the quote.
3. Explain your position.
4. Try to convince your classmates with opposite posi-
tion than yours.
“The best way to predict the future is to create it.”
Peter Drucker
Источник:
https://www.brainyquote.com/quotes/peter_drucker_131600
Use the following set-phrases:
• I think…
• I suppose…
• I consider…
• It seems to me that…
• As for me…
• In my opinion…
• To my mind…
• As I understand that…
• Definitely…
• To be more precise…
• Generally speaking…
• Frankly speaking…
• I doubt…
• I’m (not) sure…
• I agree that…
• I disagree that…
MAIN PART
LIST OFWORDS AND WORD COMBINATIONS:
1. sole
proprietorship
2. proprietorship
[səʊl
prəˈpraɪətəʃɪp]
[prəˈpraɪətəʃɪp]
— 171 —
индивидуальное
предпринимательство; индивидуальная собственность; собственность одного
хозяина
собственность
UNIT 5. TYPES OF BUSINESS ENTITIES & BUSINESS ETHICS
3.run
4. terminate (upon)
5. proprietor
6. undertake
7. service provider
8. retailer
9. partnership
10. general
partnership
[rʌn]
[ˈtɜːmɪneɪt
(əˈpɒn)]
[prəˈpraɪətə]
[ˌʌndəˈteɪk]
[ˈsɜːvɪs prəˈvaɪdə]
[riːˈteɪlə]
[ˈpɑːtnəʃɪp]
[ˈʤɛnərəl
ˈpɑːtnəʃɪp]
управлять; руководить
прекращать; завер шать; завершаться; аннулировать; расторгать
собственник; владелец
предпринимать
обслуживающая
организация; провайдер
розничный торговец
товарищество;
партнерство
полное товарищество, товарищество с неограниченной ответственностью
11. limited
partnership
12. carry (on)
13. business
venture
14. property
[ˈlɪmɪtɪd
ˈpɑːtnəʃɪp]
[ˈkæri (ɒn)]
[ˈbɪznɪs ˈvɛnʧə]
[ˈprɒpəti]
— 172 —
товарищество
с ограниченной
ответственностью
вести; продолжать; заниматься
деловое предприятие; венчурный
бизнес
собственность
UNIT 5. TYPES OF BUSINESS ENTITIES & BUSINESS ETHICS
15. debt
16. state
authorities
17. file
18. scope
of activity
19. charter
20. stockholder
21. tax-free
22. health
insurance
23. applied ethics
24. apply (to)
25. conduct
[dɛt]
[steɪt ɔːˈθɒrɪtiz]
[faɪl]
[skəʊp
ɒv ækˈtɪvɪti]
[ˈʧɑːtə]
[ˈstɒkˌhəʊldə]
[ˈtæksˈfriː]
[hɛlθ ɪnˈʃʊərəns]
[əˈplaɪd ˈɛθɪks]
[əˈplaɪ (tuː)]
[ˈkɒndʌkt]
долг
органы государственной власти
подавать (какой-л. документ);
хранить
сфера деятельности
устав; хартия
акционер
необлагаемый налогом; свободный
от уплаты налогов
медицинское
страхование
прикладная этика
обращаться к…
поведение; руководство; образ
действий
26. commitment
27. under heading
28. ethics code
29. diversion
[kəˈmɪtmənt]
[ˈʌndə ˈhɛdɪŋ]
[ˈɛθɪks kəʊd]
[daɪˈvɜːʃən]
— 173 —
обязательство
под заголовком;
под названием
этический кодекс
отвлечение; развлечение
UNIT 5. TYPES OF BUSINESS ENTITIES & BUSINESS ETHICS
30. conspiracy
31. contrivance
32. beneficial
33. emergence
34. determine
35. violation
36. fiduciary
responsibility
37. corporate
person
38. to be entitled
(to)
39. supplier
[kənˈspɪrəsi]
[kənˈtraɪvəns]
[ˌbɛnɪˈfɪʃəl]
[ɪˈmɜːʤəns]
[dɪˈtɜːmɪn]
[ˌvaɪəˈleɪʃən]
[fɪˈdjuːʃjəri
rɪsˌpɒnsəˈbɪlɪti]
[ˈkɔːpərɪt ˈpɜːsn]
[tuː biː ɪnˈtaɪtld
(tuː)]
[səˈplaɪə]
заговор
изобретение; затея; план; замысел
выгодный; полезный
появление; возникновение
определять; обуславливать
нарушение
фидуциарная обязанность
юридическое
лицо
иметь право
на что-л.
поставщик
40. customer
[ˈkʌstəmə]
покупатель; клиент
41. entrepre neurship
[ˌɒntrəprəˈnɜːʃɪp]
предпринимательство
TEXT A
TYPES OFBUSINESS ENTITIES & BUSINESS ETHICS
Part I
(1) Sole Proprietorship. This is a business run by one
individual for his or her own benefit. It is the simplest form
— 174 —
UNIT 5. TYPES OF BUSINESS ENTITIES & BUSINESS ETHICSБИБЛИОГРАФИЯ
of business organization. Proprietorships have no existence
apart from the owners. The liabilities associated with the business are the personal liabilities of the owner, and the business
terminates upon the proprietor’s death. The proprietor undertakes the risks of the business to the extent of his/her assets,
whether used in the business or personally owned.
(2) Single proprietors include professional people, service
providers, and retailers who are “in business for themselves.”
Although a sole proprietorship is not a separate legal entity
from its owner, it is a separate entity for accounting purposes.
Financial activities of the business are maintained separately
from the person’s personal financial activities.
(3) Partnerships — General and Limited. A general partnership is an agreement, expressed or implied, between two
or more persons who join together to carry on a business venture for profit. Each partner contributes money, property, labor, or skill; each shares in the profits and losses of the business; and each has unlimited personal liability for the debts
of the business.
(4) Limited partnerships limit the personal liability
of individual partners for the debts of the business according
to the amount they have invested. Partners must file a certificate of limited partnership with state authorities.
(5) Corporation. A corporation is a legal entity, operating under state law, whose scope of activity and name are
restricted by its charter. Stockholders are protected from liability and those stockholders who are also employees may
be able to take advantage of some tax-free benefits, such
as health insurance.
Part II Business Ethics
(6) Business ethics (also corporate ethics) is a form
of applied ethics or professional ethics that examines ethical
principles and moral or ethical problems that arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire
organizations.
— 175 —
UNIT 5. TYPES OF BUSINESS ENTITIES & BUSINESS ETHICS
(7) Business ethics has both normative and descriptive dimensions. As a corporate practice and a career specialization, the
field is primarily normative. Academics attempting to understand business behavior employ descriptive methods. The range
and quantity of business ethical issues reflects the interaction
of profit-maximizing behavior with non-economic concerns.
(8) Interest in business ethics accelerated dramatically
during the 1980s and 1990s, both within major corporations
and within academia. For example, today most major corporations promote their commitment to non-economic values
under headings such as ethics codes and social responsibility
charters. Adam Smith said, “People of the same trade seldom
meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some
contrivance to raise prices.”
(9) Governments use laws and regulations to point business behavior in what they perceive to be beneficial directions.
Ethics implicitly regulates areas and details of behavior that
lie beyond governmental control. The emergence of large corporations with limited relationships and sensitivity to the
communities in which they operate accelerated the development of formal ethics regimes.
(10) Business ethics reflects the philosophy of business,
one of whose aims is to determine the fundamental purposes
of a company. If a company’s purpose is to maximize shareholder returns, then sacrificing profits to other concern is a
violation of its fiduciary responsibility. Corporate entities are
legally considered as persons in most nations. The ‘corporate
persons’ are legally entitled to the rights and liabilities due
to citizens as persons.
(11) Ethical issues include the rights and duties between
a company and its employees, suppliers, customers and neighbors, its fiduciary responsibility to its shareholders. Issues
concerning relations between different companies include
hostile take-overs and industrial espionage. Related issues
include corporate governance; corporate social entrepreneurship; political contributions and legal issues.
— 176 —
UNIT 5. TYPES OF BUSINESS ENTITIES & BUSINESS ETHICSБИБЛИОГРАФИЯ
Exercise 1. Answer the questions to the text A.
1. What is sole proprietorship?
2. Does proprietorship exist without the owners?
3. What are the liabilities associated with the business?
4. How long does proprietor’s business last?
5. What the risks of the business does the proprietor
undertake?
6. Whom do single proprietors include?
7. What is sole proprietorship separated from?
8. What are financial activities of the business main-
tained separately from?
9. What is general partnership?
10. What does each partner contribute?
11. What does limited partnership limit?
12. What must partners file?
13. What is corporation?
14. What are stockholders protected from?
15. What is business ethics?
16. What does a business ethic apply to?
17. What dimensions does business ethics have?
18. What is normative dimension of business ethics?
19. What is descriptive dimension of business ethics?
20. What do the range and quality of business ethical is-
sues reflect?
21. When was interest in business ethics accelerated?
22. What did Adam Smith say about business ethics and
relations in trade?
23. What does government do in order to point business
behavior?
24. What does business ethics implicitly regulate?
25. What does business ethics reflect?
26. What is a company’s purpose?
27. How are corporate entities legally considered?
28. What are corporate persons legally entitled to?
29. What do ethical issues include?
— 177 —
UNIT 5. TYPES OF BUSINESS ENTITIES & BUSINESS ETHICS
30. What do issues concerning relations between differ-
ent companies include?
31. What do related issues include?
Exercise 2. Say whether it is true or false.
1. Sole proprietorship is a business run by two or more
people.
2. Sole proprietorship is the hardest form of business
organization.
3. Proprietorships have existence apart from the owners.
4. The liabilities associated with the business are the personal liabilities of the owner. 5. The business terminates upon
the proprietor’s death.
6. The proprietor undertakes the risks of the business
to the extent of his/her assets, whether used in the business
or personally owned.
7. Single proprietors include professional people, service
providers, and retailers who are “in business for themselves.”
8. A general partnership is an agreement, expressed
or implied, between two or more persons who join together
to carry on a business venture for profit.
9. Partners mustn’t file a certificate of limited partnership with state authorities.
10. Stockholders are unprotected from liability and those
stockholders who are also employees may be able to take advantage of some tax-free benefits, such as health insurance.
11. Business ethics (also corporate ethics) is a form of fundamental ethics or professional ethics that examines fundamental principles and moral or ethical problems that arise in a
business environment.
12. Business ethics applies to all aspects of business conduct and is relevant to the conduct of individuals and entire
organizations.
13. Business ethics has both normative and descriptive
dimensions.
14. As a corporate practice and a career specialization,
the field is primarily descriptive.
— 178 —
UNIT 5. TYPES OF BUSINESS ENTITIES & BUSINESS ETHICSБИБЛИОГРАФИЯ
15. Academics attempting to understand business behav-
ior employ normative methods.
16. Interest in business ethics accelerated dramatically
during the 1980s and 1990s, both within major corporations
and within academia.
Exercise 3. Translate into Russian the following word
combinations.
Business organization, individual partners, a business
venture, the personal liabilities, service providers, legal entity, single proprietors, accounting purposes, tax-free benefits, limited partnerships, financial activities, a general
partnership, unlimited personal liability, scope of activity,
state authorities, a legal entity, under state law, health insurance, applied ethics, business conduct, a career specialization, normative dimension, a corporate practice, corporate governance, business behavior, quantity of business,
non-economic concerns, ethics implicitly, non-economic values, corporate entities, ethics codes, social responsibility
charters, political contributions, beneficial directions, the
philosophy of business, the fundamental purposes, fiduciary
responsibility, industrial espionage, ethical issues, hostile
take-over, descriptive dimension, corporate social entrepreneurship, legal issues.
Exerci se 4. Insert prepositions or adverbs where necessary:
1. Sole Proprietorship is a business run _____ one indi-
vidual for his or her own benefit.
2. Proprietorships have no existence _____ _____ the
owners.
3. The liabilities associated _____ the business are the
personal liabilities of the owner, and the business terminates
_____ the proprietor’s death.
4. Single proprietors include professional people, service providers, and retailers who are “_____ business _____
themselves.”
— 179 —
UNIT 5. TYPES OF BUSINESS ENTITIES & BUSINESS ETHICS
5. _____ a sole proprietorship is not a separate legal entity _____ its owner, it is a separate entity _____ accounting
purposes.
6. A general partnership is an agreement, expressed
or implied, between two or more persons who join _____
to carry _____ a business venture _____ profit.
7. Partners must file a certificate of limited partnership
_____ state authorities.
8. A corporation is a legal entity, operating _____ state
law, whose scope of activity and name are restricted _____ its
cha rt er.
9. Stockholders are protected _____ liability and those
stockholders who are also employees may be able to take advantage of some tax-free benefits, such as health insurance.
10. The range and quantity _____ business ethical issues
reflects the interaction _____ profit-maximizing behavior
_____ non-economic concerns.
11. Interest _____ business ethics accelerated _____
during the 1980s and 1990s, _____ within major corporations and within academia.
12. _____ example, today most major corporations promote their commitment _____ non-economic values _____
headings such as ethics codes and social responsibility
charters.
13. The emergence _____ large corporations _____ limited relationships and sensitivity _____ the communities
_____ which they operate accelerated the development _____
formal ethics regimes.
14. The ‘corporate persons’ are _____ entitled _____ the
rights and liabilities _____ citizens as persons.
15. Issues concerning relations _____ different companies include hostile take-overs and industrial espionage.
Exercise 5. Fill the gaps with correct notions:
1. _____ is a business run by one individual
a. corporation
for his or her own benefit.
— 180 —
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