A. Discuss the following questions

v Are you interested in the world of business?

v What kinds of people are good at business? Who would be your business model?

v Is it easy to start a business in your country? What advice would you give to people starting in business?

v What would be your main business goal?

B. Read the text, give the main idea and summarize the key points about business.

New businesses are set up by entrepreneurs. There are both risks and benefits involved in setting up a new business. A business is any organization that makes goods or provides services. Goods are physical products - such as burgers or cars. Services are non-physical items - such as hairdressing. Customer needs are the wants and desires of buyers.

There are many types of business. These range from small firms owned and run by just one self-employed person, through to large companies which employ thousands of staff all over the world. Nearly half a million businesses start up every year. A business start-up is a new firm operating in a market for the first time. In order to create goods and services, a business buys or hires inputs such as raw materials, equipment, buildings and staff. These inputs are transformed into outputs called products. These products are the goods and services used by consumers. Production is the business activity of using resources to make goods and services.

The skill involved in wanting to start and run a business is called enterprise. The individual who sets up their own business is called an entrepreneur. There are several reasons why entrepreneurs are willing to take a calculated risk and set up a business. Possible motives include:

  • making a profit. A business does this by selling items at a price that more than covers the costs of production. Owners keep the profit as a reward for risk-taking and enterprise.
  • the satisfaction that comes from setting up a successful business and being independent.
  • being able to make a difference by offering a service to the community such as a charity shop or hospice.

C. Study the following expressions with the word “business” and do exercise given below.

a) business trip командировка, деловая поездка
b) business lunch деловой обед
c) business hours часы работы
d) business address адрес фирмы, компании
e) business card визитная карточка
f) business corporation коммерческая корпорация
g) for business purpose с деловой целью, для бизнеса
h) in a businesslike manner в деловой обстановке, по-деловому
i) to go into business заняться бизнесом
j) to go out of business обанкротиться
k) to start/ set up one’s own business начать/создать своё собственное дело
l) to carry on/run a business вести дело
m) to shut down/stop the business останавливать дело
n) to get down to business заняться делом
o) on business по делу
p) big business крупный капитал
q) mind your own business занимайся своим делом

1) When you go somewhere on business it’s a … …

2) A small piece of paper with your name, surname and address is a … …

3) Your firm is situated in Pushkin St. 23. It’s your … …

4) Don’t ask me! ... ...

5) He … … a year ago. Now he has got a lot of money.

6) We met in a small café and discussed our plans … …

7) He has got 5 factories in Russia and abroad. - I know, he has … …

8) When you have a meal with your business partners it’s a … …

9) You must work from 9 a.m. till 5 p.m. It’s your … ……

10) Many small businesses have gone bankrupt recently and I … … … … too.

D. Read and reproduce the dialogue paying attention to the expressions in bold.

Interviewer: When did you first go into business?

David: I set up a small businessselling office supplies in 1989, filing systems, office equipment and so on. In 1991 I went into partnership with my old friend. We made a loss for the first two years, but then things got better and we’ve made a profit most years ever since. But there have been bad times too.

Interviewer: In what way?

David: Well, during the economic recession of the early 1990s, a lot of small businesses were going under, and I thought our business would fold, but we survived. All around us, small firms were going bankrupt. But in 1994 we won a contract, despite stiff competition, to supply the local government offices, and that was an important moment for us. We took on staff and expanded. And we were proud that we had created jobs for local people at a time when unemployment was high. Our sales figures improved steadily, and soon we had an annual turnover of more than ten million dollars.

Interviewer: So what’s the secret of your success?

David: Well we’re quite cautious[1]. For instance, we always carry out market researchbefore launching a new product. But also, we set a high value[2] on customer service[3], especially after-sales service[4]. But at the end of the day[5], running a successful business is a combination of hard work, luck and intuition.

Interviewer: Finally, there are rumors that you may float the company on the stock market.

David: At the moment we have no intention of going public, and people shouldn’t believe everything they read in the newspapers!

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