Educating Tomorrow's Entrepreneurs
Over the past two decades there has been a growing ( 1 )about how well
( 2 ) systems prepare young people for adult life in general and "enterprise" in the world of work in particular. This debate recognizes the ( 3 ) for societies,organizations and individual citizens to improve theircapacity ( 4 ) an increasingly competitive, uncertain and complex role involving higher rates of innovation and change. While the concept of "( 5 )" is ambiguous enough to embrace a wide range of educational initiatives - including industry awareness, business ( 6 ),and new venture creation, and the development of personal and social skills, among others - there is an increasing ( 7 ) of entrepreneurship as a distinct educational challenge that needs to be addressed.
There is a worldwide ( 8 ) to build more ( 9 )approaches around existing schools (colleges or universities). ( 10 ) programs that can be «entrepreneurially enhanced" include those focused upon:
- ( 11 ) a much greater economic awareness among young people of all ages;
- creating a wider understanding of industry, business and management;
- developing ( 12 ) of small business and its management systems;
- introducing young people to the concept of new venture development via stimulation exercises in schools;
- developing transferable skills such as ( 13 ), presentation, negotiation, problem solving, as well as information technology competence;
- opening gateways to better career planning;
- providing work ( 14 ) for students and teachers;
- creating business ( 15 ) between schools and colleges and individuals or groups of firms.
The above list underlines the potential for the role of business in partnering education with ( 16 ). If it is to be ( 17 ), then care must be taken to find clear concepts and ( 18 ) so that the ( 19 ) of entrepreneurship education are clearly (20 ). There needs to be new kinds of partnerships between schools and business. Overall, business will need to reappraise its own role in designing new ways of preparing young people for the entrepreneurial challenge of the 21st century.
Task 2. Match each of the words or phrases on the left to an appropriate definition.
| 1.Money market | a) A bank which clears customers cheques drawn on other banks through a central clearing house. A bank which is a member of a central clearing organization |
| 2. Financial market | b) An agreement of settlement of a debt or obligation |
| 3. Value of money | c) A market consisting of financial institutions and dealers in money and credit who either have money to lend, or want to borrow money |
| 4. Cost of money | d) A bill of exchang drawn against a commercial transaction. Commercial bills are all bills other than Treasure Bills |
| 5. Payment and settlement arrangement | e) A market of securities |
| 6. A clearing bank | f) An amount considered to be a fair exchange in return for the money |
| 7. A short-term debt (liability) | j) Discount houses are merchant firms whose traditional business is the buying and selling of bills. They maintain contacts with the banks and other institutions in the money markets and provide them with funds if necessary against their own bills and they themselves sell short-term bills to the central bank cash |
| 8. Discount houses | h) The price paid or required for acquiring the money |
| 9. A commercial bill | i) A debt arising in the normal course of business which is due for payment within the next twelve months |
Task 3. Fill in the blanks using the word combinations given below, translate the letter.
Letter 1.
I have been a customer of your bank for several years and I have had no ( 1 ) about the quality of the ( 2 ). However, now I feel that the ( 3 ) should be clarified
( 4 ). I expect a full explanation of the mistake. Failing this, I will have ( 5 ) but to consider transforming my accounts ( 6 ).
a. present situation
b. no alternative
c. services provided
d. reason to complain
e. to another bank
f. immediately
Letter 2.
We authorized our trade ( 1 ) in your country to sign an addendum to our contract providing for the change in the ( 2 ) of payment. The above ( 3 ) was signed on 15th June this year.
We urge you to advise us at ( 4 ) when the bank guarantee will be ( 5 ) and also let us have your consent to covering the ( 6 ).
a. your earliest convenience
b. addendum
c. submitted
d. representative
e. storage expenses
f. original method