Ex. 1. Match the words with their definitions

_____ nationalized company	a. a large business company operating in several countries
_____ to expand	b. to change the form, character, or function of
_____ a firm	c. a system of persons or things arranged in a graded order
_____ hierarchy	d. any commercial enterprise
_____ premises	e. a company put under state control or ownership
_____ fee	f. a specialized division of a large company
_____ multinational	g. a part of business that has been made into a unit for production, administrative or other reasons
_____ department	h. a piece of land together with its buildings, especially considered as a place of business
_____ to convert	i. to make or become greater in extent, volume, or size

_____ division j. a payment asked by professional people or public

servants for their services

Ex. 2. Find in the text English equivalents to the following words and word-combinations.

1. совет директоров _________________________________

2. начальники отделов _______________________________

3. расширяться географически ________________________

4. производственное предприятие _____________________

5. места продажи ____________________________________

6. превращать сырьё в изделие _________________________

7. конечный потребитель _____________________________

8. организационная структура _________________________

9. бухгалтерская фирма ______________________________

10. заводы по производству пищевой продукции _________

11. огромное большинство ____________________________

12.места ведения торговой деятельности ________________

Ex. 3. What are the synonyms from the text to the words and word-combinations in italics.

1. As a company gets bigger it may spread out geographically.

2. Large businesses vary from small ones in a wide variety of styles.

3. Service companies render services for fee.

4. In many countries there are publicly-owned companies belonging to the state.

5. Trading companies buy materials and transform them into products.

6. You may need to explain to someone who is in charge of different aspects of the business and

how the company ismanaged.

7. Some companies may only manufacture one good or service.

8. A private company might be a small firm with thousands of stockholders“owning” the firm.

9. Businesses produce goods and services, and may be of different shape and size.

10. who is in charge of different aspects of the business

Ex. 4. Match the two halves of the sentences.

1. In a very large firms the shareholders have very little to do	a. and come in every shape and size.
2. A private company might be a small firm with	b. it may expand geographically
3. A business entity is any business organization	c. with the day-to-day running of the firm.
4. Although the vast majority of the world’s companies are small,	d. in a wide variety of ways.
5. As a company gets bigger	e. of a country’s economy.
6. Large businesses differ from small ones	f. that exists as an economic unit.
7. Companies are very important part	g. thousands of shareholders “owning” the firm.
8. Businesses produce goods and services,	h. in many countries the economy is dominated by large firms.

COMPREHENSION

Ex. 5. Answer the questions.

1. What kind of firms is the economy dominated by in many countries?

2. Can a small company be a private firm?

3. Do the shareholders have anything to do with the day-to-day running of the company?

4. Why is the organizational structure of some companies very hierarchical?

5. What does “a multinational company” mean?

6. What is a business entity?

7. What groups can be business entities grouped into?

8. What services do the service companies perform?

9. Give the examples of merchandising companies.

10. What business activities do manufacturing companies perform?

Text 2

ENTERPRENEUR

VOCABULARY

location – местоположение

entrepreneur– предприниматель, бизнесмен

to undertake – браться (приниматься) за какую-либо работу

with a view to profit – с намерением получить прибыль

addictiveness –привыкание

to take risks – брать на себя риск

gamblers– азартные игроки

obtainable goals – достижимые цели

misconception –неправильное представление

byproduct – побочный продукт

what makes them tick - что придает им силы

conducted a survey – провели опрос

to launch their enterprises – развернуть свои предприятия

to be personally liable –нести персональную ответственность

are in the range – находиться в пределах

retailing – розничная торговля

Economists sometimes identify a forth factor of production – enterprise. It is clear that, left to themselves, land, labour, and capital will not produce anything. There must be some person or persons, who will organize these three factors in order to produce goods and services. Someone must take the decisions (1) what to produce (the type of goods and services and the quantity), (2) how to produce (the methods of production); (3) where to produce (the location of the enterprise).

Whoever takes the decisions, and the consequent risks, is known as the entrepreneur.

Entrepreneur is a person who organizes and managers a business.This is a French word that has been accepted into English language because there is no really suitable English word to describe such a person, perhaps, “enterpriser” is the nearest we can get.

Entrepreneurs are a mystery to some people. The entrepreneur is the person who undertakes production with a view to profit. A driving force in entrepreneurship is addictiveness. Once people have a taste of freedom in a business of their own, they like it. They don’t want to go back to working for someone else. They prefer to take risks in order to be his or her own boss.

Many people think that those who go into business for themselves are naturally high risk-takers. Of course there are risks in business, but real entrepreneurs aren’t gamblers who depend solely on chance to succeed.

In fact, just the opposite is true: successful entrepreneurs do everything possible to minimize the real risks. They manage risk by setting reasonable and obtainable goals – then work to achieve them. In short, the successful small-business owner works hard and intelligently.

One of the bigger misconceptions about entrepreneurs is that they are only interested in making money. Entrepreneurs certainly like and respect money, but money is only a byproduct of an even bigger goal for many very successful entrepreneurs.

One US expert on entrepreneurial management observed:

“Many businesses fail because their owners were only interested in money. Most real successful companies are founded by someone with an idea and a dream. Whatever money and wealth they accumulated is the result of their willingness to work night and day to make this dream a reality. If you want to be really successful, know what your dreams are before going into business.”

The American magazine “Venture” attempted to analyze entrepreneurs and to see what makes them tick.They conducted a survey to which 2,740 readers responded. Here is what they had in common:

1) Typically they were first born children who had a positive relationship with their father.

2) They held jobs before they were 15 and started their first businesses by the time they reached 20.

3) They borrowed money to launch their enterprises and made themselves personally liable.

4) Most of them are college graduates and start work early in the day (82 percent start work before 9 a.m.).

5) 20 percent described themselves as successful; another 53 percent claimed moderate success; 27 percent reported the expectation of success.

How old are the people who start new business? The majority are 30 to 34, with the biggest segment (70%) between 25 and 44.

With what do entrepreneurs start up new business? How much money do they invest? Most businesses require between $20,000 and $50,000 in cash. The vast majority of business start-ups (87%) are in the range of a few thousand dollars to $100,000.

Which business are the most popular? There is no doubt that retailing is number one. Nearly half of all new business start-ups are retail shops.

COMPREHENSION