Read the text and check your answers.

COMPANIES

Work in groups and brainstorm as many types of companies as you can. Give their characteristics.

Match the type of company with its description.

charity company parent company offshore company society holding enterprise

nationalized company private company partnership

multinational cooperative public company

subsidiary

1. an organisation operating in several countries

2. a firm which has tax benefits or low taxation

3. an organization which works for the government

4. a company which owns another

5. a company belonged to the state

6. a company which is completely controlled by another one

7. a company which shares are not publicly available

8. an association of people who carry on business for making profit and issue

stocks

9. an organization, especially a business firm

10. a business owned by two or more persons with the purpose to get profits

11. an organization which helps people who are poor or in difficulties

12. a democratic firm owned by workers

13. a firm where shareholders’ liability is limited

14. a friendly association of people

15. a company which shares are available to everybody

16. a firm without commercial activity, acting as a head company

VOCABULARY

Work in pairs. Think what activities a company can carry out.

Complete the mind map.

Look at the list of the companies. Choose 10 you know and write about their areas of business and activities. Use the verbs given below and those you have listed previously.

be involved in be engaged in be concentrated on

deal with operate on … market

e.g. Angel Investments plc isinvolved in providing finance to start-up or young companies.

Bridgestone Wal-Mart (retail chain) Marlboro Ford General Electric Intel Honda The Financial Times

Coca- Cola McDonald’s Disney Adidas Proctor & Gamble Sony LEGO Harley-Davidson

British Airways Lloyd’s Nestle Electrolux Microsoft L’Oreal At&T (telecommunication)

Complete this table with the related forms.

verb	noun
develop produce invent innovate create provide supply research sell purchase advertise market

READING

1. What do you know about Philips? Work in small groups and brainstorm your ideas. Present them to the class.

Before reading the text below about Philips, decide whether you think these statements are true (T) or false (F).

1It is the world's second biggest electronics company.

2It has produced over 100 million TV sets.

3Its headquarters are in Amsterdam.

4It was the first company to produce compact discs.

5It is active in a small number of specialised businesses.

6It provides the lights for famous landmarks such as London's Tower Bridge.

Read the text and check your answers.

The foundations of world’s biggest electronic company were laid in 1891 when Anton and Gerard Philips established Philips & Co. in Eindhoven, the Netherlands, to manufacture light bulbs and other electrical products. By the turn of the century, the company had become one of the largest producers in Europe. Developments in new lighting technologies affected a steady programme of expansion and, in 1914 it established a research laboratory to stimulate product innovation.

In the 1920s, Philips decided to protect its innovations in X-ray radiation and radio reception with patents. This marked the beginning of the diversification of its product range. Since then, Philips has continued to develop new and exciting product ideas like the compact disc, which it launched in 1983. Other interesting landmarks include the production of Philips’ 100-millionth TV set in 1984 and 250-millionth Philishave electric shaver in 1989.

Philips’ headquarters are still in Eindhoven. It employs 256,400 people all over the world, and has sales and service outlets in 150 countries. Research laboratories are located in six countries, staffed by 3,000 scientists. It also has an impressive global network of 400 designers spread over twenty-five locations. Its shares are listed on sixteen stock exchanges in nine countries and it is active in about 100 businesses, including lighting, monitors, radio, electric shavers, colour picture tubes, medical equipmentand healthcare. Each day its factories turn out a total of 50 million integrated circuits.

Royal Philips Electronics is managed by the Board of Management, which looks after the general direction and long-term strategy of the Philips group as a whole. The Supervisory Board monitors the general course of business of the Philips group as well as advising the Board of Management and supervising its policies. These policies are implemented by the Group Management Committee, which consists of the members of the Board of Management, chairmen of most of the product divisions and some other key offices. The Group Management Committee also serves to ensure that business issues and practices are shred across the various activities in the group.

The company creed is ‘Let’s make things better’. It is committed to making better products and systems and contributing to improving the quality of people’s work and life. One recent example of this is its ‘Genie’ mobile phone. To dial a number you just have to say it loud. Its

Web TV Internet terminal brings the excitement of cyberspace into the living room.

And on travels around the world, whether passing the Eiffel Tower in Paris, walking across London’s Tower Bridge, or witnessing the beauty of the ancient pyramids of Giza, you don’t have to wonder any more who lit these world famous landmarks, it was Philips.

2. Read 'The Philips Story' again. Why are these dates important?

a 1891 b1914 c the 1920s d1983 e 1984