Consumer, active, foreign exchange, buyer’s, bear, black, easy, bull,

seller’s, capital, commodity market

 

Find combinations that mean:

1. the illegal economy, not approved by a government;

2. the situation of buying and selling goods for personal use, not for resale;

3. a place where raw materials and some manufactured goods are bought and sold;

4. any market where there is a lot of buying and selling;

5. a place where deals are made relating to the long-term investment needed by businesses;

6. a market where certain securities are plentiful and prices are low because there are few buyers;

7. a market where foreign currencies are traded;

8. a market where conditions are good for the buyer;

9. a market where conditions are good for the seller;

10. a financial market at which the value of stocks and bonds goes down;

11. a situation in a financial market where prices are rising and lots of shareholders are buying.

 

7. Match the words and phrases with their definition.

Witness, acquisition, controlling share, merger, buyout, bid, staff, takeover,raider, price.

1. a business or part of a business taken over or bought by another company;

2. a person who saw something and can tell about it;

3. the buying of one company or most of the shares in it, by a person or another company;

4. (in business) combining two companies into one larger company;

5. an offer to sell something at a certain price;

6. the amount of money for which something can be bought or sold;

7. the purchase of a controlling interest in business;

8. the workers or employees of an organization;

9. a situation where a person or an organization owns enough shares (usually more than 50%) in a company to say how it should be run.

10. a person or company that buys a large number of shares in another company before making a takeover bid or obtaining control.

8. Fill in the missing words which relate to business integration:

1.When two companies combine to form a larger single company, the new company is the result of a --------------------.

2. When a company is incorporated into another firm that has bought the major part of its shares and thereby gained control, we are witnesses to an-----------------------.

3.------------------- is a form of integration which can be accomplished either in a

-------------------- or a hostile manner.

4. One way of avoiding ---------------------------is the decision by senior executives to

attempt a ------------------.

 

Write the appropriate word or phrase (below) in the following spaces. Translate the sentences into Ukrainian.

1. This deal should be highly....

2. We have... of twenty.

3. Choose carefully before making....

4. We can't afford to buy the computer at that....

5. Our company made... to sell coffee beans at $ 10 per pound.

6. The family will never sell more than 49 per cent of the shares; they don't want any possibility of....

7. The software company's... of Acme Company will help it compete in the hardware market.

8. The directors of both companies met to discuss the terms of....

9. The two insurance companies have agreed....

10. We... the project because it was too expensive.

 

11.... determines what goods are made.

 

The market, to merge, the merger, acquisition, a takeover, a bid, price, a purchase, a staff, profitable, abandoned.

 

These words are often confused:

To learn - to find out

to learn - to gain knowledge; to gain new information about a

situation, event or a person

to find out - to discover a fact or piece of information (something

that was previously unknown)

Complete these sentences using the correct form of one of the words above. Make your own sentences to show that you understand the difference in their meaning.

 

1. She... some American history in high school.

2. I just... that the payment is due tomorrow.

3. He is... how to use a computer.

4. We... about the accident from my friend.

5. She lost so much money in the stock market that she... a lesson.

6. Please... when they will discuss the terms of the merger.

7. When did you... about the acquisition of their companies?

8. We were glad... this good news.

9. We have not yet... whether he got the profit.

10. Please... how to get there.

11. Most of these business stories are true and we can... a lot from them.

12. I am returning the machine so you can... what is wrong with it.

 

12. Answer the following questions:

1. What can we often witness in the world of business?

2. Why do companies join with or buy other companies?

3. What happens when companies combine?

4. What do we mean by "making an acquisition"?

5. What types of takeover exist in business?

6. What is a hostile (a friendly) takeover?

7. What do you have to do when you want to buy a company?

8. What is a buyout?

9. Why do businessmen restruct their business?

10.What is the difference between:

a hostile takeover – a friendly takeover

a buyout – a takeover

a merger – an acquisition

13. Discuss:

if it is profitable for companies to diversify their business;

if it is better for a company to merge or to take over another company.

 

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14.Read the sentences with the following idioms. Translate them into Ukrainian.

1. Stop beating about the bush and tell me what you want.

2. You have a head start over your competitors; your business has been established longer than theirs.

3. If you could see our electricity bill, it would make your hair curl.

TEXT 6. ORGANIZATIONAL STRUCTURE

Vocabulary

be in charge of керувати

Board of Directors правління,рада директорів

Chairman of the Board голова правління

customer замовник, клієнт, покупець

day-to-day повсякденний

employee службовець,співробітник, працівник

Finance department фінансовий відділ

Head of a company керівник компанії

hold a position (v) займати посаду

location місце знаходження, розташування

make a decision (v) приймати рішення

Managing Director генеральний директор

Marketing department відділ маркетингу

personnel персонал, штат

Personnel department відділ кадрів

Production department виробничий відділ

report to (v) звітувати; підпорядковуватися

Research and Development відділ наукових досліджень та

department розробок

Sales department відділ збуту

senior executive /manager кepiвник вищого рангу,

top executive/manager менеджер найвищого рівня

 

 

Organizational Structure

 

In business organizational structure means the relationship between position and people who hold these positions.

The structure of organizations varies greatly according to the nature of the business. There are several factors which influence this structure:

♦ the number of locations and employees

♦ the economic sector

♦ the type of a market in which they operate

♦ the type of customers

♦ the degree of management control required

♦ the complexity of the business activities

 

The company is run by a Board of Directors; each Director is in charge of a department. However, the Chairman of the Board, someone who wears many hats, is in overall control and may not be the head of any one department. The Board is responsible for policy decisions and strategy. The Managing Director (sometimes called the Chief Executive Officer (CEO), or President in the USA) is the head of the company, who has overall responsibility for the running of the business. In the US, senior managers in charge of particular areas are often called vice-presidents (VPs).

Most companies have Finance, Sales, Marketing, Production, Research and Development (R&D) and Personnel Departments. These are the most common departments, but some companies have others as well.

Most departments have a Manager, who is in charge of its day-to-day running, and who reports to the Director; the Director is responsible for strategic planning and for making decisions. Various personnel in each department report to the Manager.

People at the head of an organization are often called senior executives or senior managers, top executives or top managers.

EXERCISES

1. Form verbs from the following nouns:

location -----------------------------------

employee -----------------------------------

decision -----------------------------------

organization ------------------------------------

operation ------------------------------------

management ------------------------------------

activity ------------------------------------

director ------------------------------------

executive ------------------------------------

development ------------------------------------

2. Give the English for:

структура організації службовець, економічний сектор, клієнт, управлінський контроль, керувати компанією, рада директорів, голова правління, керівник компанії, відділ збуту, виробничий відділ, відділ кaдрів, стратегічне планування, приймати рішення, персонал, підпорядковуватися менеджеру, займати посаду.

3. Match words from list A with words from list В that have a similar meaning:

A B

day-to-day fulfil many functions

customer chief executive officer

be in charge of decide

head staff

make a decision division

department manager

personnel change

managing director client

wear many hats be in control of

vary every day

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4. Match the nouns in the left hand column with the verbs in the right hand column:

employee appoint someone to

employ

board of directors hire

pay

personnel dismiss someone from

train

customer receive

work on behalf of

department be in charge of

run

 

5.These words frequently occur before "manager".