Sole proprietorship, partnership, corporation

1. There are three forms of organization of your business. These forms are the sole proprietorship, the partnership and the corporation. Which of these forms of organization you choose depends on such questions as the size of your business, whether you are the only owner of your business or you have partners.

2. Sole Proprietorship. A sole proprietorship is the simplest organizational form. There is one owner of the business, who usually takes the title of President. So he or she can make any decision without consulting anyone. Such kinds of business are in the service industries, such as repairing shops, restaurants, etc.

3. Partnership. Partnership means that there is more than one owner to carry out business. And each partner declares his or her share of profit or loss on the personal income tax return.

There is a special type of partnership, called a limited partnership, where the limited partner is not involved in the management of the firm.

4. This form of organization is useful in such professional fields as law, insurance, and some industries, for example, oil prospecting.

But partnership has some disadvantages. Partnership business fails when one of the partners loses his interest or disagrees with the other.

5. Corporation. A corporation is a more formal way of organization. It is established for the purpose of making profit and operated by managers. Corporation involves registration with a state department of commerce. There are some advantages, such as being able to attract financial resources, and to attract talented specialists and managers due to high salaries. In general, this form is economically better for business when its profit reaches a great sum of money.

 

FIND THE RUSSIAN EQUIVALENTS

1. sole proprietorship а. управление

2. partnership b. доля потерь

3. share of profit с. партнерство с ограниченной

юридической ответственностью

4. income tax d. партнерство

5. management е. недостатки

6. corporation f. налог на доходы

7. advantages g. льготы по налогообложению

8. tax advantages (benefits) h. доля прибыли

9. disadvantages i. единоличное владение

10. share of loss j. преимущества

11. life insurance k. корпорация

12. limited partnership 1. страхование жизни

QUESTIONS

1. What forms of business organization do you know?

2. What is a sole proprietorship?

3. What is a limited partnership?

4. What is a corporation?

5. What are the advantages of a corporation?

ТЕКСТЫ ДЛЯ ЧТЕНИЯ И ПЕРЕВОДА

THE ECONOMY OF GREAT BRITAIN

Britain was a pioneer in the industrial revolution and has retained a manufacturing base of fundamental importance to the economy (accounting for some 25 per cent of gross domestic product -GDP) in spite of a rapid growth in the services sector (nearly two-thirds of GDP).

Petroleum and natural gas now account for 4 per cent of GDP and agriculture for 2 per cent (supplying more than half country's food). Britain has become self-sufficient in oil with the development of resources in the continental shelf under the North Sea. Although this has brought great economic benefits, it has contributed to problems of economic adjustment: the external value of sterling is partially influenced by the position in the International oil market, and this may cause strains in Britain's international trade.

The economy is based largely on private enterprises but has some major publicly owned industries (notably coal, steel, gas, electricity and railways) and a few joint enterprises. The Government is reducing the size of the public sector, returning parts of the steel, transport, telecommunications andaerospace industries, for example, to private enterprise. II. The working population is just over 26 million (in a total population of 56 million) of which 7 per cent are self-employed. Just under 40 per cent are women. Unemployment has risen to around 3 million.

Britain exports over 30 per cent of its GDP. Machinery and transport equipment account for about one-third of exports while finished manufactures comprise over one-third of imports. A recent trend has been the large fall in oil imports and the emergence of a significant export trade. The Federal Republic of Germany and the United States are Britain's leading trading partners. Britain's fellow members in the European Community accounted for 43 per cent of its exports and 41 per cent of imports in 1990, compared with 30 and 32 per cent respectively in 1972.

Earnings from invisible exports, including financial and other services, are about half as much as those from visible exports.

The Government aims to defeat inflation through firm fiscal and monetary policies, increasing competition, reducing the rise in public expenditure and restoring incentives to industry, particularly small businesses.

THE TRADE OF GREAT BRITAIN

International trade has always been important to Britain but its importance has increased markedly in recent years. Exports of goods and services now account for nearly a third of gross domestic product, compared with almost a fifth some 30 years ago; imports have shown a broadly similar trend as proportions of home demand.

The fifth largest trading nation in the world, Britain provides just over 9 per cent of the main manufacturing countries' exports of manufactured goods. The country is a major supplier of aeropace products, motor vehicles, electrical equipment, chemicals, textiles and most types of machinery, and is a growing oil exporter. It relies upon imports for about two-fifths of total consumption of foodstuffs and for most of the raw materials required by industry.

Manufactured goods account for about three-quarters of exports of goods (accounting to trade statistics); a feature is the shift towards finished, rather than semi-finished, goods. The most important group is machinery and transport equipment (34 per cent of exports in 1980). The share of fuels rose from 4 per cent of exports in 1975 to 14 per cent in 1980 when, for the first time, exports of North Sea oil exceeded imports of crude oil.

An increasing proportion on trade has been with other European Community member countries. They account for six of the top ten export markets, taking 43 per cent of British exports in 1980, and for six of the ten leading suppliers of goods to Britain. Britain's largest single export market was the Federal Republic of Germany and the largest single supplier of imports was the United States.

Long an advocate of the removal of artificial trading barriers, Britain has taken a leading part in the activities of such organizations as the General Agreement on Tariffs and Trade, the International Monetary Fund, the Organization forEconomic Cooperation and the United Nations Conference on Trade and Development. The European Community's common customs tariff, which Britain applies, is, on average, at a similar level to the tariffs of other major industrial countries. Britain maintains few restrictions on its international trade. Most goods may be imported freely and only a narrow range of goods is subject to export control.

Invisible trade (which includes payments and receipts for services such as shipping, travel and civil aviation, insurance and interest, profits and dividents arising out of overseas investment, and transfers between Britain and other countries) is of great significance to the economy, accounting for one-third of overseas earnings. Net earnings from invisibles are second only to those of the United States.

 

Рабочая программа по английскому языку для студентов заочной формы обучения по специальности ЭУП.

Курс

Семестр V (зачет)

Деловой английский язык

Структура и содержание дисциплины

 

1. Выполнить контрольное задание №4 (вариант соответствует последней цифре зачётной книжки) по методичке кафедры ВИСТех.

Оформление работы должно соответствовать, установленным требованиям. Работа выполняется в отдельной тетради, сдаётся в деканат в строго установленные сроки. Во время зачёта проверяется на сколько успешно усвоен материал, вошедший в контрольную работу.

Для выполнения контрольной работы рекомендуется грамматический справочник учебника Л.Н. Андриановой.

2. Сделать сообщение по темам (учебник Шляхова)

1) Банки и кредиты

2) Менеджмент

3. Читать и переводить тексты по специальности И.П. Агабекян «Деловой английский», Феникс, Ростов - на - Дону 2009» (стр.63-64, 88-93, 99-100, 136-138, 212-214)

 

 

УСТНЫЕ ТЕМЫ

BANKS AND CREDITS

The banking and credit system of a country is a means developed by society to promote its economic activity. That's why the structure of the credit system has to fit the particular characteristics of the economic organization or structure of society.

Credit plays a very important part in the economic life of the country. It's chief objectives arc to maintain and develop stable currency, regulate the monetary circulation.

Financial position of any enterprise is the only criterion for extending credit to it. That's why the first problem for the banker when borrowing credits is to decide whether the borrowing enterprise has the right to ask for credits.

The ability to borrow from commercial banks enables businessmen to purchase at once the commodities and services they must have and later they pay off their obligations to the banks.

Loans are granted and money is made available for paying expenses. A large volume of money is kept continuously in circulation. And through the use of this circulation medium the exchange of goods is facilitated.

WORDS

a means средство

to promote способствовать, развивать

activity деятельность

to fit (to suit) подходить, соответствовать

chief главный

objective цель

to maintain поддерживать

stable currency устойчивая валюта

circulation обращение

to extend credit предоставить кредит

to borrow занимать (одалживать) деньги

enable давать возможность

to purchase покупать

commodities товары

pay off выплачивать

obligations обязательства

loans займы

to grand предоставлять

expenses затраты

to facilitate облегчать

QUESTIONS

1. What is the banking and the credit system of the country?

2. What does the structure of the credit system have to fit?

3. What role does credit play? What are its chief objectives?

4. What's the only criterion for extending credit to the enterprise?

5. What does the ability to borrow from banks enable businessmen to do?

6. Must businessmen pay off their obligations to the banks?

7. Where is the large volume of kept continuously?

8. What does the circulation medium facilitate?

MANAGEMENT

1. Management is the art of getting things done through other people. It includes the personnel who have the right to make decisions that influence company's affairs.

2. There are three management levels: top management, middle management and operating management. Top management includes the president, vice presidents, and the general manager. Middle management includes department managers and plant managers. Operating management includes supervisors, foremen, etc.

3. The most important responsibility of any manager is decision making. Successful management is a skill of choosing from alternatives.

4. Decision makings are divided into: recognizing the problem, defining and analyzing the problem, evaluating alternative solutions, choosing the most favourable solution and implementing the approach chosen.

5. Management functions are planning, organizing, directing, controlling, staffing and innovating. It should be noted that successful management is based on three basic elements: leadership, motivation and communication.

6. To operate a successful business one should have management skills because effective management is the key to business success.