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Read and translate the following groups of words
sole proprietor, joint stock company, cooperative society, public corporation, one-person business, decision-taker, extremely flexible, easy adjustment, market conditions, repair and maintenance work, personal services
Learn these words and word combinations by heart
Define the part of speech of the following words simplest, solely, employment, responsibility, alternatively, unimportant, condition, disadvantage, liable, possession, insolvent, strict, prevalent
Make up nouns out of the verbs given organize, classify, decide, assume, lose, employ, compare, direct, control, consult, change, require, expect, adjust, possess, expand, restrict, provide Find out synonyms enterprise, decision, acquire, business, obtain, need, event, proprietor, case, owner, responsible, solution, liable, require. Find out antonyms strength, profit, success, security, weakness, amount, failure, quantity, danger, loss.
Make up antonyms using the corresponding suffixes advantage, limited, able, employment, important, compared, personal, capable.
Text A
Read and translate the text SOLE PROPRIETOR The different types of business organization to be found in the UK and most other capitalist countries may be classified under five headings: the sole proprietor, the partnership, the joint stock company, the cooperative society, and the public corporation. Sole proprietor is the simplest and the oldest form of business enterprise and often referred to as the one-person business. A single person provides the capital, takes the decisions, and assumes the risks. He or she is solely responsible for the success or failure of the business and has, therefore, the sole rights to such profits as may be made, or, alternatively, bears the sole responsibility for such losses as may accrue. The one-person business is still far more numerous than any other types of business organisation, but in terms of total output employment, value of capital employed, or value of total output, it is relatively unimportant compared with the joint stock company. The strength of this type of firm lies in the direct personal interest of the proprietor in the efficiency of his enterprise. Ownership and control are vested in one person who enjoys all the fruits of success and hence has a great incentive to run the firm efficiently. Since the proprietor is the sole decision – taker and has no need to consult colleagues when changes of policy are required we should expect this type of organisation to be extremely flexible and capable of quick and easy adjustment to changes in market conditions. The great disadvantage of the sole proprietor from an enterprise lies in the fact that the owner is personally liable for the debts incurred by his firm and his liability is unlimited. All his personal possessions are at risk and may be seized to meet creditors demands in the event of the business becoming insolvent. Another disadvantage of this type of firm is the strict limitation of its ability to acquire capital for expansion. Finance is restricted to the amounts which the entrepreneur is able to provide from his own resources and whatever sums he can borrow on his own security. We find the one-person business prevalent in farming, bailing, building, repair and maintenance work, and personal services such as hairdressing.
Language practice and Speaking Fill in the blanks using the words below possessions, adjustment, proprietor, failure, headings, enterprise, efficiency, ownership, conditions, flexible, failure, liability, debts, decisions, responsible 1. The different types of business organization may be classified under five.... 2. This is the simplest and the oldest form of business.... 3. A single person is solely... for the success or... of the business. 4. His... is unlimited. 5.... and control are vested in one person. 6. This type of organization is extremely... and capable of quick... to changes in market.... 7. The owner is personally liable for the... incurred by his firm. 8. All his... are at risk. 9. A single person provides the capital, takes the..., and assumes the risks.
Translate from Russian into English эффективно руководить фирмой, единственный человек, принимающий решение, консультироваться с коллегами, необычайно гибкий, изменение рыночных условий, огромный недостаток, лично ответственный за, неограниченная ответственность, удовлетворить требования кредиторов. Make up sentences 1. are, control, and, in, ownership, person, one, vested. 2. organization, of, is, this, flexible, type, extremely. 3. risk, all, at, possessions, his, personal, are. 4. as, the, often, referred, is, business, it, to, one-person. 5. relatively, joint stock company, is, compared, unimportant, it, the, with.
Fill in the gaps with the prepositions
1. The different types... business organization to be found... the UK may be classified... five headings. 2. This is the simplest form... business enterprise and is often referred... as the one-person business. 3. He is solely responsible... the success.... the business. 4. The strength... this type... firm lies... the direct personal interest... the proprietor in the efficiency... his business. 5. The owner is personally liable... the debts incurred... his firm.
Put the questions 1. The different types of business organization may be classified under five headings. 2. The owner is personally liable for the debts incurred by his firm. 3. The one-person business is prevalent in farming, retailing, repair and maintenance work. 4. A single person provides the capital, takes the decisions, and assumes the risks. 5. The oldest form of business enterprise is often referred to as the one-person business.
Answer the questions
1. What are the types of business organization to be found in the UK? 2. What is the simplest and oldest form of business enterprise? 3. What is the strength of the one-person business? 4. What are the disadvantages of this form of business organization? 5. Why is the one-person business less important compared with the joint stock company? 6. Where is the one-person business prevalent? Retell the text “The sole proprietor”.
Text B Read and translate the text THE PARTNERSHIP Partnerships are voluntary combinations of from 2 to 20 persons formed for the purpose of carrying on business with a view of profit. This type of organization represents a logical development from the one-person business since the obvious method by which such a firm may acquire further capital is to form a partnership. The motive, however, may not be financial and partnerships are often formed in order to bring new ability and enterprise into the business. The partners usually share in the task of running the business, but a partner need not play an active role. A person who joins a partnership, supplying capital and sharing in the profits, but taking no part in the management is known as a dormant or sleeping partner. Partnerships are a common form of business organization in such professions as law, accountancy, surveying, and medicine. The advantages of this type of firm are similar to those of the one-person business. It is a flexible organization which allows a greater degree of specialization than the one-person business. Partners usually specialize in one or more aspects of the business; one may be responsible for buying, one for selling, one for production, and so on. Since it has greater access to capital, it can achieve greater size than the sole proprietor. The great disadvantage, like that of the one-person business, is the fact that the liability of the partners is unlimited and they are all fully liable for the acts of the other partners. There are, however, some limited partnerships which have to be registered with the Registrar of Companies. In such firms some partners (e.g. dormant partners) may have their liability limited to some specified sum, but at least one of the partners must have unlimited liability. The survival of a partnership depends upon the continued harmonious relationship between a number of people in situations which often give much cause for disagreement. Thus, where trading risks are very great, the partnership is not a very stable type of organization.   Что делает отдел по эксплуатации и сопровождению ИС? Отвечает за сохранность данных (расписания копирования, копирование и пр.)...  Что вызывает тренды на фондовых и товарных рынках Объяснение теории грузового поезда Первые 17 лет моих рыночных исследований сводились к попыткам вычислить, когда этот...  ЧТО ТАКОЕ УВЕРЕННОЕ ПОВЕДЕНИЕ В МЕЖЛИЧНОСТНЫХ ОТНОШЕНИЯХ? Исторически существует три основных модели различий, существующих между...  Конфликты в семейной жизни. Как это изменить? Редкий брак и взаимоотношения существуют без конфликтов и напряженности. Через это проходят все... Не нашли то, что искали? Воспользуйтесь поиском гугл на сайте:
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