Match the words and phrases with the correct definition below

 

a) sole proprietorship 1 a firm run by two or more partners;

b) share 2.a business owned by one person;

c) partnership 3.a company in which the owners are entirely liable for the debts of the company;

d) stock exchange 4. a company in which the owners are liable only for the amount of money they have invested in the business;

e) asset 5.a company that may not offer its shares for sale to the public;

f) limited liability 6. a company whose shares can be bought and sold

company on the stock exchange;

g) listed company 7. money owed by one person or organization to another;

h) private limited 8. an item of value belonging to a person or a

company company;

i) shareholder 9. one of many portions into which a company’s capital is divided;

j) wealth 10. a market where stocks and shares are bought and sold under fixed rules;

k)debt 11. a person who owns shares in a company and is,

therefore, a member of the company;

l) unlimited liability 12. (owning) a large amount of money, goods or property.

company

9. Write the appropriate word or phrase in the following spaces. Translate the sentences into Ukrainian.

1. The person operating a… … owns the business in his or her own name.

2. Formed by two or more persons, the... is considered a business entity. Each partner is responsible for the....

3. All personal... of each partner are at risk if the business fails.

4.... receive dividends in proportion to the capital they invest.

5. Being a … … she works long hours in her hairdressing business.

6. The partnership collapsed as a result of the criminal activities of one of the....

7. He has... in British Gas.

8. He is a man of great....

9. The... of going to school is to learn.

10.He works as a computer operator at the New York … ….

Stock exchange, wealth, purpose, shareholders, sole trader, partners, shares, assets, debts, partnership, sole proprietorship.

 

10. These words are often confused:

To offer — to suggest

to offer -to propose something, express willingness to do

something

e.g. He offered me a job.

to suggest — to propose something to do, to offer an idea or a plan for consideration

e.g. 1. We suggest contacting the manufacturer directly.

2. I suggest we have dinner first.

3. He suggested various ways in which the service could be improved.

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. I... a new plan.

2. I... to take my friend to dinner.

3. They... fresh investments in our business.

4. He... that we have lunch at the hotel.

5. She... me a cigarette every time I see her.

6. They... him a job last week.

7. He... I look through the documents once more.

8. Our company... different services to our customers.

9. My friend... that we join our small firms.

10. His company... just its shares to the public.

11. He... going to the stock exchange.

12. I... you buy more shares of this company.

11. Answer the following questions:

1. Are all businesses owned and organized in the same way?

2. What is the simplest form of business ownership?

3. What are the owners liable for in unlimited liability companies?

4. What are the owners liable for in a limited liability company?

5. What are unlimited liability companies subdivided into?

6. What is a partnership?

7. What are limited liability companies subdivided into?

8. What is a private limited company?

9. What is a public limited company?

10. Is a public limited company privately or state-owned?

 

12. Interview an owner of a sole proprietorship, ask the following questions:

1. Why are you in business?

2. Why did you choose this particular type of business?

3. What advantages and what disadvantages do you feel the sole proprietorship has over other forms of business ownership?

4. How difficult is it to borrow money? And how do you arrange for additional funds?

5. What advice do you have for someone who is thinking about going into business?

13. You want to open a business. What ownership form would you use? Why?

14. What do you think are the advantages of a small family-run business?

♦ for the consumers/clients?

♦ for the owner?

♦ for the employees?

 

15. Comment on the following:

‘Genius without education is like silver in the mine’.

(Franklin)

TEXT 4: BUSINESS RELATIONSHIP

Vocabulary

relationship відносини

subsidiary дочірня компанія, підконтрольна компанія,

філія

parent company компанія-засновник; компанія, що володіє контрольним пакетом акцій іншої компанії,

компанія

holding company холдингова компанія

hold володіти

stake частина(чогось), частка (капіталу), акція

sister company сестринська компанія

conglomerate конгломерат

joint venture спільне підприємство

remain залишатись

separate окремий

legal entity юридична особа

consortium консорціум

undertake (a project) розпочинати,здійснювати (проект)

carry out виконувати, здійснювати

 

Business Relationship

As businesses expand they may buy shares in other companies, or join with other companies for a particular purpose. There are different relationships these companies can have with one another. A group is a number of subsidiary companies operating under one leading company known as the parent company. A subsidiary is a company that is half or wholly owned by another company (the parent company).

A holding company is one that holds all, or more than half of, the stakes in one or more subsidiaries. It is the leading company in a group.

A holding company's relationship to its subsidiaries is that of parent company, and the subsidiaries' relationship to each other is that of sister companies. The parent company controls its subsidiaries through its capital interests.

A conglomerate is a group consisting of a lot of different companies in different businesses run as one large company.

When two or more companies decide to work together, they form a joint venture. In such cases, the two companies involved remain separate legal entities.

A consortium is a group of companies which come together to undertake a project which any one of the members cannot carry out alone.

 

EXERCISES

1. Form nouns and adjectives from the following verbs:

 

hold -------------------------------- ---------------------------------

subside -------------------------------- ---------------------------------

separate -------------------------------- ---------------------------------

join -------------------------------- ---------------------------------

relate -------------------------------- ---------------------------------

lead -------------------------------- ---------------------------------

differ -------------------------------- ---------------------------------

expand -------------------------------- ---------------------------------

operate -------------------------------- ---------------------------------

know -------------------------------- ---------------------------------

decide -------------------------------- ---------------------------------

2. Give the English for:

діловi відносини, розширювати бізнес, купувати акції, об'еднуватися з іншими компаніями, провідна компанія, компанія-засновник, філія, холдингова компанія, акція, сестринська компанія, спільне підприемство, юридична особа, здійснювати проекти.

 

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

 

A B

consist stay

stock parent company

separate different from something else carry out make up one’s mind

 

operate share

holding company fulfill

hold function

decide be composed of

remain own

 

4. Find suitable opposites to the following words and phrases:

to shorten, to sell, similar, subsidiary, joint, legal, to leave.

 

5. Match the nouns in the left hand column with the verbs in the righthand column.

start

stakes form

acquire

joint venture hold

own

project set up

undertake

subsidiary develop

6. These words frequently occur before " company ":

Joint-stock, limited, sister, competitive, subsidiary, listed, holding

Company

Find combinations that mean:

1. the leading company of a group that holds all or more than half of the shares of the other companies and usually controls other companies;

2. one of two or more organizations that are part of the same group;

3. a business formed by a group of people using money provided by them all;

4. a company of which at least half the share capital is owned by another company, called a parent or holding company;

5. a company whose shares are recorded on the main market of a stock exchange;

6. a company whose members are only responsible for its debts up to a limited amount

7. a company that offers the same or better goods and services as another and therefore competes for the same customers.

 

7.. Match the words and phrases with their correct definition from the list below: