10. Read and translate the following articles. Directors and managers

As a rule a private company has only one director.

A public company must have at least two directors. Usually there is no upper limit on the number of directors a public company may have. The company's note-paper must list either all or none of the names of its directors.

A limited liability company or a corporation is headed by the board of directors elected by shareholders. The directors appoint one of their number to the position of managing director to be in charge of the day-to-day miming of the company. In large organizations the managing director is often assisted by a general manager. Some companies also have assistant general managers. Many directors have deputies who are named deputy directors.

Directors need not be shareholders. They are responsible for the management of a company's affairs. They are not subject to any residence or nationality restrictions.

Big companies have many managers heading departments. They are all responsible to the managing director. Among various departmental managers (directors) the following can be mentioned:

• sales manager;

• personnel manager;

• chief manager;

• district manager;

• sales and marketing manager;

• industrial engineering manager etc.

The entrepreneur

Land, labour and capital are required if production is to take place. If left to themselves, however, these factors of produc­tion will not produce anything. They have to be brought to­gether and organized into a unit of production. Someone must take the decision on what to produce, and on how and where to produce it. In addition, the services provided by the land, labour and capital have to be paid for.

The person (or persons) who undertakes the responsibili­ties and risks of employing land, labour and capital, and who decides how these resources are to be used, is described as an entrepreneur.

Entrepreneurs, then, are decision-takers and risk-bearers. They must take risks because they purchase and employ the services of the factors of production without any guarantee that the money they will obtain from selling their outputs will cover their costs. They can have no certainty that they will make a profit. It is the expectation of profit which persuades them to accept the risks of setting up and carrying on a busi­ness.

Entrepreneurs as risk-bearers, organizers and managers are recognized as a fourth factor of production. In the one-person business it is easy to recognize the entrepreneur, because one person takes all the risks and all the important decisions. In a large company, however, the risks are borne by the people who put their money into the business, the shareholders, while management decisions are taken by the directors. The different tasks of the entrepreneur are carried out by different groups of people.

Unit 15. Job opportunities

There is nothing unusual for a person to have a number of jobs in the United States. Many people start working at the teenager's age as dish-washers, street cleaners, and window washers. Some youngsters mow the lawn or clean cars and earn pocket money. Students, for whom tuition is not free of charge, do part-time work in cafes, restaurants, hotels and in the University campus. There is a special agency at each University or college in the US which informs the students of the available part-time or vacation employment. For example, such occupation as stewards, bar staffers, shop assistants, fitness instructors and even lifeguards in the water pools are very popular among the students. The students choose the working hours which suit them, balancing work and study. There is also a lot of vacation and weekend work on the campus itself.

People in Britain can look for jobs in the Situations Vacant column of national or local newspapers. National newspapers such as «The Guardian» focus on different areas of employment such as media, education, social work and information technology on different days. Job vacancies are also displayed at Job Centres and other Employment Agencies in towns and cities and on the Internet.

Before applying for a job, you should check that you meet the requirements. These are usually specified in terms of previous experience, qualifications and personality. To show that you are a suitable candidate for the post, it is usual to enclose your curriculum vitae with your letter of application. There are many computer programs that will help you to produce a well designed and professional-looking curriculum vitae. If you make the right impression, you will be invited to an interview; otherwise you will probably receive a letter saying, «We regret to inform you that your application has been unsuccessful».