TYPES OF BUSINESS ORGANISATIONS

Для студентов дневной и очно-заочной формы обучения по направлению 521600 «экономика» бакалавриат

Методические указания предназначены для студентов 2-го курса экономического факультета, изучающих деловой английский язык.

Целью данных указаний является формирование у студентов навыков анализа и воспроизведения информации по темам коммерческого характера.

Методические указания рассчитаны на один семестр аудиторной работы, но могут быть также использованы для автономной (самостоятельной) работы студентов, используемой в ОмГТУ.

Печатается по решению редакционно-издательского совета Омского государственного технического университета.

enterprise, responsible, alternatively, numerous, efficiency, ownership, incentive, disadvantage, liability, possession, involvement, since, entrepreneur, resources, security, prevalent, retailing, debts

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

simplest, solely, employment, responsibility, alternatively, unimportant, condition, disadvantage, liable, possession, insolvent, strict, prevalent

organize, classify, decide, assume, lose, employ, compare, direct, control, consult, change, require, expect, adjust, possess, expand, restrict, provide

enterprise, decision, acquire, business, obtain, need, event, proprietor, case, owner, responsible, solution, liable, require.

strength, profit, success, security, weakness, amount, failure, quantity, danger, loss.

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.

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....

6. This type of organization is extremely... and capable of quick... to changes in market....

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.

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.

4. The strength... this type... firm lies... the direct personal interest... the proprietor in the efficiency... his business.

1. The different types of business organization may be classified under five headings.

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.

5. Why is the one-person business less important compared with the joint stock company?

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.

The most important form of business organisation in the UK is the joint stock company. Basically, it consists of an association of people who contribute towards a joint stock of capital for the purpose of carrying on business with a view to profit. A company may be defined as a legal person created to engage in business, capable of owning productive assets, of entering into contracts, and of employing labour in the same way as an individual. There are two kinds of joint stock company, the private company and the public company. In 1986 there were some 860 000 joint stock companies in the UK, of which about 6000 were public companies. The public companies are much larger units and account for about two-thirds of all the capital employed by companies. In general, private companies are small firms, often consisting of the members of one family. Both public and private companies must have at least 2 members. A public company must have a minimum allotted share capital of 50 000 pounds (sterling) of which at least one-quarter has been paid up. A private company must include the word limited in its name while a public company must have the words public limited company at the end of its name although this can be abbreviated to plc. The basic distinction between a private and a public company is that a public company can offer its shares and debentures for sale to the general public. In the case of a private company it would be a criminal offence to ask

the public to subscribe to its shares. All companies must file annually, with the Registrar of Companies, details of their turnover, profits, assets, liabilities and other relevant financial information about their structures and activities.

Decisions do not occur in a vacuum. Many come about as part of the firm's planning process. Others are prompted by new opportunities or new problems. It is natural to ask: What brought about the need for the decision? What is the decision all about? In all kinds of textbooks examples, the decision problem is stated and is reasonably well defined. In practice, however, managerial decisions do not come so neatly packaged; rather, they are messy and poorly defined. Thus, problem definition is a prerequisite for problem management.

Identifying the decision context and the decision maker represents a large step toward understanding the choice process. The particular setting has a direct bearing on both the decision maker's objectives and the available courses of action.

In the vast majority of decisions we may encounter, the objectives and outcomes are directly quantifiable. Thus, the private firm, such as the steelmaker, can compute the profit results of alternative price and output plans. Analogously, a government decision maker may know the computed net benefits (benefits minus costs) of different program options. Given enough time, the decision maker could determine a preferred course of action by enumeration, that is, testing a number of alternatives and selecting the one that best meets the objective. This is fine for decisions involving a small number of choices, but it is impractical for more complex problems.

The decision maker need not rely on the painstaking method of enumeration to solve such problems. A variety of methods can identify and cut directly to the best or optimal decision. These methods rely to varying extents on marginal analysis, linear programming, decision trees, and benefit-cost analysis. These approaches are important not only for computing optimal decisions but for checking why they are optimal.

Philip Kotler defines marketing as «asocial and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and values with others». Marketing research is used to assess the market's response to the firm's marketing inputs which include promotional activities. The goal of marketing research is to assist the firm in determining the most effective, i.e. most profitable, mix of marketing inputs given knowledge of the marketplace.

As a formal scientific discipline marketing research began in the early twentieth century with most analyses being based on survey data. In the 1930s, the A. C. Nielsen Company began collecting in-store data using manual audits. Today, with the advent of scanning technology, the amount of timely data available from stores and household panels has grown exponentially. Coincident with this data explosion, the data delivery systems and the techniques used to analyze the data have become increasingly sophisticated. Marketing research is an integral part of organizations in both the consumer durable and nondurable goods sectors, and in recent years the use of marketing principles has become increasing prevalent among nonprofit and government sectors.

Marketing research is interdisciplinary requiring the knowledge of economists, operations researchers, psychologists, and statisticians. For the economist, the economic theory of consumer behavior and the theory of the firm provide basic building blocks. Marketing research can be viewed as an operational or tactical activity and as a strategic activity. Although both activities require knowledge of the workings of the marketplace at both the macroeconomic and microeconomic levels, tactical analyses focus on monitoring a product's performance and testing the effectiveness of marketing programs relative to competitors. Strategic research involves selecting and optimizing marketing opportunities.

In order to understand the marketplace, the researcher must define the market in terms of both the geographic unit and the product class and collect data. Data on consumer purchases permit an analyst to determine what was sold and how particular brands performed relative to each other. In addition to sales and price information, causal data assist the analyst in understanding the reason that sales took place. Examples of causal data are newspaper advertising which indicates the extent of retailer advertising support, display activity, and coupon ads. Another important source of information for understanding the source of sales is television advertising. Measuring the effects of television advertising is relatively difficult owing to the dynamic effects such advertising has on consumer behavior, however.

Once the data are collected, the analyst may choose to evaluate the information by simply looking at the raw series together over time or compute straightforward measures such as market share in order to arrive at a qualitative assessment of market activity. Statistical models might be estimated in order to address issues such as temporary price reduction, effectiveness, the extent of cannibalization due to promotional activity, i.e. the extent to which sales of one specific product decline as a result of promoting another similar product produced by the same manufacturer, the competitive effects of promotions, differences between markets, competitive pricing points, and long-term price elasticities.

Forecasting is an activity likely to be undertaken by a business economist working in a marketing research department. Forecasting the success or failure of new product introductions is also important. New product introductions require a considerable amount of a firms resources, and failure to read the marketplace correctly and early in the development process can lead to costly errors.

Individual consumers and corporate /organizational buyers are aware that thousands of goods and services are available through a very large number of diverse channel outlets. What they may not be well aware of is the fact that the channel structure, or the set of institutions, agencies, and establishments through which the product must move to get to them, can be amazingly complex.

Usually, combinations of institutions specializing in manufacturing, wholesaling, retailing, and many other areas join forces in marketing channel arrangements to make possible the delivery of goods to industrial users or customers and to final consumers. The same is true for the marketing of services.

Marketing channels can be viewed as sets of interdependent organizations involved in the process of making a product or service available for use or consumption. From the outset, it should be recognized that not only do marketing channels satisfy demand by supplying goods and services at the right place, quantity, quality, and price, but they also stimulate demand through the promotional activities of the units (e.g., retailers, manufacturers' representatives, sales offices, and wholesalers) comprising them. Therefore, the channel should be viewed as an orchestrated network that creates value for the user or consumer through the generation of form, possession, time, and place utilities.

A major focus of marketing channel management is on delivery. It is only through distribution that public and private goods can be made available for consumption. Producers can organize their production capabilities in such a way that the products they have developed can, in fact, be seen, analyzed, debated, and. by a select few perhaps, digested. But the actual large-scale delivery of the products to the consuming public demands different types of efforts which create time, place, and possession utilities. In other words, consumers cannot obtain a finished product unless the product is transported to where they can gain access to it, stored until they are ready for it, and digested, exchanged for money or other goods or services so that they can gain possession of it.

In fact, the four types of utility (form, time, place, and possession) are inseparable: there can be no «complete» product without incorporating all four into any given object, idea, or service.

1. Английский язык для студентов заочной формы обучения (гуманитарные специальности): Учеб. пособие / Л.В. Хведченя, О.И. Васючкова, Т.В. Елисеева и др.- 2-е изд., перераб. и доп.- Мн.: Выш. шк., 1998.- 416 с.

2. Английский язык для инженеров: Учебное издание / Полякова Т.Ю., Синявская Е.В., О.И. Тынкова и др.- М.: Высш. шк., 1997.- 463 с.

3. Коваленко П.И., Агабекян И.А. Английский для экономистов.- Ростов-на-Дону: Феникс, 2001.- 352 с.

4. Португалов В.Д. Учебник по английскому языку. Economics.- М.: ООО «Издательство АСТ», 2002.- 303 с.

Подписано в печать.2008. Формат 60х84¹/₁₆. Бумага офсетная.

Отпечатано на дупликаторе. Усл. печ. л. 192. Уч. изд.л. 12.

Для студентов дневной и очно-заочной формы обучения по направлению 521600 «экономика» бакалавриат

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