242. Сомнений не может быть, перед нами - классический пример своего жанра.

243. Разделить производственную деятельность и распределение.

244. На этот раз мы столкнулись с более крупным соперником в своей традиционной сфере бизнеса.

245. Типичный пример вертикально интегрированного бизнеса.

246. Горизонтальное слияние с новыми партнерами.

247. Банк, испытавший трудности.

248. Хронически убыточные филиалы.

249. Избавиться от заграничных филиалов.

250. Представительства банка.

251. В то время как Джонсон энд Джонсон намеревался поглотить более мелкую фирму.

252. В сделке, оцениваемой приблизительно в 1 миллиард долларов.

253. Согласно условиям договора.

254. Объем продаж первого полугодия 1995 года возрос до 20 миллиардов французских франков.

255. Объединение новых дочерних компаний в группу произвело фурор на прошлой неделе.

16. Choose the correct answer A joint-venture is...

256. A business or commercial activity in which there may be some risk for the parties concerned;.

257. A business activity in which two or more people or organisations work together.

258. A group of people chosen to represent others in organising affairs that concern them all.

A merger is...

259. The aim of selling to a particular group of people.

260. A company whose shares are not recorded on the main market of a stock exchange.

261. The combining of two or more organisations, usually to share costs, increase efficiency and avoid competition.

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A consolidation is...

\a) A temporary association of two or more companies for a major project that is too complex for any of them to do alone.

262. The bringing together the financial resources and accounts of a holding company and its subsidiaries so that the strength of the whole group is revealed

263. A number of companies, sometimes involved with different products, joined together and run as one large company.

17. Fill in the blanks where necessary.

1. plans to expand nation-wide.

264. Limit oneself .

265. Shareholders ___ _ TSB group.

266. Approved _ the merger.

267. The change name their company Lloyds TSB

group.

268. To be given options Lloyds TSB shares.

269. The demerger the us healthcare group.

270. To consider _ _ demerging the business.

271. To be line the prevailing fashion.

10. a view _ _ possible merger.

272. A merger fresh partners.

273. To decide demerging.

274. To turn representative offices.

275. To dispose .

276. Maker _ cardiology equipment

277. To agree a take-over Johnson and Johnson.

278. To be valued $lbn.

279. To keep the name the company.

280. An increase 20 per cent

281. Changes structure.

282. The consolidation subsidiaries the group.

283. Sale me first six months 1995.

18. Paraphrase the text paragraph by paragraph using synonymous words, word-combinations and terminology.

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19. Read the texts again and say if these statements are true or false.

• A partnership-at-will can be ended at any tome by any member without notice.

• A public limited company must have an authorised share capital of at least £ 10,000.

• There should be at least 10 partners to start a master limited partnership.

• A concession is a right given or sold to someone by the owner allowing him/her to use or operate something.

20. Give every word combination collectively pertaining to each word listed below.

• effect

• merger

• capital

• to agree

• to value

• takeover

• option

21. Below there are ten words and word-combinations used in the text. On the right of them, mere are ten alternative ways of saying the same thing, however, these are mixed up. Choose the words and word-combinations on the right which have the same meaning as the ones on the left.

• a subcidiary

• manufacturer » growth

• consolidation

• a take-over

• a merger

• to supply with money

• a company

• to permit

• producer

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• a combination of businesses • unification

• to allow

• loss-making

• afirm

• to finance

• the process of assuming management

• a daughter company

• increase

• unproductive

22. Write a letter to your partner about a forthcoming merger of your company with another one.

23. Write a letter to your partner about a forthcoming demerger of your company.

24. Write a letter to your partner about the current situation in the branches of your company abroad

25. Insert the right word or word-combination choosing from those given.

• partner

• a joint-venture

• the company

• limited

• detergents

• Board of Directors

1. I didn't talk to my.

• strict '	» business
• sole	• work
proprietorship
• corporation	» decisions
• matter <	» the proprietor
• manufacturer <	» a letter
• General Manager >	• private

. long, so I decided to write him a

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2. I've got my own , so my company is

284. My friend's father has got a factory. He is .

285. The American and Russian parties have agreed to establish

to produce shampoo, soaps and .

5. The director of the company is very . He doesn't like it when

people are late for _ .

286. A private limited company must have a word' ' in its name.

287. Someone of the Town Hall came to see on an urgent

288. My father is the President of the .

289. Members of the _ _ make important decisions about the policy of .

290. The sales manager reports to the .

26. Make up dialogues following these specific situations and use set phrases you know.

291. Discuss a merger of two car manufacturing companies, the advantages and disadvantages of the possible merger.

292. Discuss consequences of a possible take-over of your company by another one.

293. Discuss a demerger of a large pharmaceutical company.

294. Discuss the establishing of the Russian-American joint-venture to produce gems.

295. Discuss the creation of a subsidiary of your company.

296. Discuss the question of consolidation of three subsidiaries of your company into one group to achieve better sales in Europe.

297. Discuss the reasons of a winding-up of the company that you worked for quite recently.

27. Translate the following special phrases as accurately as you can into English. In case you cannot give an exact translation give an explanatory one.

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I for»,* «f Business Activities. ' ,'

298. Закулисная борьба нефтяных генералов за наиболее интересные предприятия отрасли.

299. Законченная технологическая цепочка "добыча - переработка - сбыт" в структуре вертикально-интегрированной компании гарантирует обеспеченность сырьем и сбыт продукции.

300. Санация - это реструктуризация и финансовое оздоровление убыточных предприятий.

301. Согласно трудовому контракту работодатель не может изменить в свою пользу нормы по обеспечению труда и техники безопасности.

302. В Турецкую столицу ежедневно прибывают десятки тысяч российских челноков.

303. Разве понимает простой работяга макроэкономическую целесообразность своего труда?

304. Годовой объем добычи нефти компании "ЮКОС" вырос на 400 млн. тонн за счет слияния с акционерным обществом "Самаранефтегаз".

305. Магазин "Электротовары" выставлен на коммерческий конкурс и продан частному предпринимателю. А сейчас, спустя два года, магазин брошен новым хозяином на произвол судьбы.

306. Почему бы предприятию вместо аренды не продать землю в полную собственность, ведь рабочие доказали, что они - рачительные хозяева.

307. Доля малого предпринимательства в валовом продукте республики.

308. Страны СНГ имеют единое информационное, демократическое и экономическое пространство.

309. Мы работаем вне политики, ставя во главу угла верность выбранному экономическому курсу. В числе рецепиентов Международного Валютного Фонда состоят страны с самой разной политико-экономической ориентацией.

310. Как правило, дочернее предприятие имеет самостоятельный годовой бюджет.

311. Это горно-металлургический комбинат, который работает по старинке.

312. Как превратить институт предпринимательства и менеджмента в кузницу кадров?

313. Систему здравоохранения ожидает новое "затягивание поясов".

314. Проблема освоения экономических зон свободного предпринимательства.

315. Бесконтрольное освоение природных ресурсов корпорациями, предприятиями нефтедобычи, приведет к истощению недр земли.

316. Эти сигареты не облагаются налогом на территории США.

317. В последнее время в отрасли происходит слияние разнородных предприятий.

318. Многие предприятия в свое время перешли на хозрасчет.

319. Производственное объединение "Юганскнефтегаз" до 1991 года входило в состав "Главтюменьнефтегаза", а затем стало

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Forms of В it tine si Activities.

самостоятельным государственным предприятием. В апреле 1993 года предприятие было преобразовано в акционерное общество сокрытого типа.

320. Таким образом окончилось недружественное поглощение акционерного общества.

321. "Инкомбанк" и его дочерняя компания "Инком Капитал", специалист по слияниям и поглощениям, решили не афишировать свои намерения и подготовили схему "тихой" скупки контрольного пакета акций АО "Бабаевское".

28. Speak on current economic events in the country and abroad using the active vocabulary of the lesson.

29. Translate the following dialogue into Russian. A and В - small-business analysts.

A: I believe the government got it wrong when it switched its small-firms policy from promoting start- ups to encouraging business growth.

B: Indeed. Many small-firm owner-managers might have thought: 'Actually, I'm quite happy with the way it is. It's comfortable.'

A: Or 'Yes, we could take on a couple of staff, but that's not a huge amount of difference.'

B: Or something like: 'I think it is the ideal size because you can keep an eye on if

A: They might have suggested 'You can make reasonable money and you know mat if it does get a bit quieter, you can, unfortunately, lay some people off and still do okay.'

B: Anyway, mere's a study made by Kingston University academics for the Financial Management of Small Firms and published by the Chartered Association of Certified Accountants (ACCA).

A: Do you think it suggests anything interesting or new?

B: Subtitled An Alternative Perspective, it suggests, the entrepreneurs that we've quoted above are the rule, not the exception.

A: Absolutely. Survival, not growth, drives the financial management strategies of most small firms.

B: Much small-business policy is based on the assumption that growth should be the rime objective of the financial management strategies

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of small-business owners. But the evidence is that survival and

stability are the major goals of owner-managers. A: Exactly. For most of the entrepreneurs, growth beyond a certain

limit meant nothing but trouble - the hassle¹ of finding new

premises, more administration and the need to hire middle

management B: Behind and beyond these issues, it posed one overwhelming threat:

loss of control - over product quality, over the costs of the business,

over, potentially, the owner's own fete. A: It seems as if many owner-managers would like to expand - they

just want to keep growth within manageable limits where the

business remains familiar. B: One owner-manager said the optimism size for his business,

which had a single-figure workforce, was 16 people because that's

how many can work comfortably in his shop without felling over

each other. A: The entrepreneurs' grasp of a business basic - that cash is king - is

also encouraging.

B: Well, cash-flow indicators are crucial. A: As I noticed, the entrepreneurs tend to see business as a vocation

rather than a vehicle for enrichment. One owner-manager said:

'Maybe I'm stupid, I don't know. To do a job that you enjoy doing

and to be satisfied in your job is more important to me than

money.'

¹ hassle = squabbe, headache

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