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Companies need to know how they are performing in order to make plans for the future and to analyse and find solutions to the problems that they may be facing. To do this successfully, businesses require information not only about their own activities but also about the 1………….. they operate in. Management accounts for the company provide key 2……………, about operational efficiency, whereas 3 ……………. give information about financial performance. This allows companies to know not only how much they are selling or how much 4 …………… they are receiving but also what their5 are or how much they have to pay for the different things that they need to operate their businesses. With this information companies can then calculate how much money they have made 6……………………… or how much they have lost 7…………………….. during a specific period. Annual accounts for listed companies, whose shares are sold on the Stock Exchange, have to be presented to the public in the form of an 8 ………….. which gives detailed financial and other information about companies.
6. Choose the best word to fill each gap from the alternatives given below. Put a circle around the letter, A, B or C, of the word you choose.
Aberdeen Reliance is one of the country's smaller life insurance companies. It was set up in 1920 as a (1) ………… This means that the 15,000 people who have insurance policies with the company are (2) ………… These, in theory, own all the (3) ……….. and there are no (4) ………………….. Last year, the board of directors wanted to sell the company to a large American (5) ………….., but first they had to get the policy holders to agree to (6) …………….. This was heavily defeated, proving that many people still value the traditional status of the company.
| A | mutual | B | public | C incorporated | |
| A | partners | B | directors | C members | |
| A | profits | B | salaries | C expenses | |
| A | customers | B | traders | C shareholders | |
| A | corporation | B | sector | C proprietor | |
| A | freelancing | B | demutualization | C limiting |
7. Study the following word combinations with 'enterprise' and use these expressions to complete the text
| free/ private | enterprise | business activity owned by individuals, rather than the state |
| enterprise | culture | an atmosphere which encourages people to make money through their own activities and not rely on the government |
| economy | an economy where there is enterprise culture | |
| zone | part of a country where business is encouraged because there are fewer laws, lower taxes, etc. |
Margaret Thatcher often talked about the benefits of (1) ………… or (2)………… She said that her achievement was to establish an (3) ……….. in Britain, an economy where people were encouraged to start their own companies and where it was acceptable to get rich through business: an (4)……….. In some areas, the government reduced the number of laws and regulations to encourage businesses to move there. Businesses were encouraged to set up in the London Docklands, for example. The Docklands were an (5)………..
8. Complete the following company profile with either the present perfect or past simple tense of the verbs in brackets. You should pay particular attention to irregular verbs and to the position of adverbs.
William Colgate1 ………..(found) the Colgate Company in 1806 as a starch, soap and candle business in New York City. For the first one hundred years, the company2 ……………(do) all its business in the United States. However, in the early 1900s, the company3 ……………(begin) an aggressive expansion programme that4 ……….(lead) to the establishment of Colgate operations in countries throughout Europe, Latin America and the Far East. Recently it5 …………(set up) operations in Turkey, Pakistan, Saudi Arabia, Eastern Europe and China. Colgate-Palmolive6 ………….(become) a truly global consumer products company, worth $6.6 billion and selling in more than 160 countries. Colgate-Palmolive's five main sectors of business are: Oral Care, Body Care, Household Surface Care, Fabric Care and Pet Nutrition and Health Care. In the area of Oral Care, Colgate-Palmolive is the world leader in toothpaste. Since 1980, the company7 …………(increase)
its share of this market by more than 12% to over 40% today. Oral care revenues8 ………..(grow) significantly in recent years and in 1991, they9 ………..(exceed) $1.3 billion. As a result of the company's heavy investment in research and technology, it10 …………(develop) many successful toothpastes, rinses and toothbrushes. To strengthen its presence in professional products, Colgate-Palmolive11 ……….(buy) the Ora Pharm Company of Australia and the dental therapeutics business of Scherer Laboratories USA in 1990. For many years, the company12 …………(have) a strong dental education programme in schools throughout the world and13 …………(maintain) a close partnership with the international dental community. Recently Colgate-Palmolive14 ………..(enlarge) its school
education programmes to cover rural areas as well as townships in developing countries. For the last three years, the company 15 ……….(be) a major sponsor of the International Dental Congress, the world's largest and most prestigious dental meeting. The company16 ………(always pay) close attention to the environment. It17 ……..(already make) great progress in the use of recyclable bottles and packaging materials. In 1990 the American Council on Economic Priorities 18 ………(choose) Colgate-Palmolive as one of the four most socially responsible companies in the United States.
9. Complete the following sentences using a noun or a verb from the box
| increase | rise | go up | an increase | a rise |
| decrease | fall | go down | a decrease | a fall |
| decline | drop | reduce | a drop | a decline a reduction |
1 As a result of the recession, we have had to............ the amount of money we
spend on research and development.
2 Last year was a good year for the company and our sales....... considerably.
3 The price of coffee has.................. as a result of bad weather conditions.
4 Many Asian companies have entered the market and there has been a 20% ……….in prices.
5 Some governments fear the................. in Japanese investment in Europe.
6 The....................... in profits is the result of poor management.
10. Fill the gaps in these sentences with a suitable verb or noun and
preposition from the box.
| account for apply for backlog of blame for | advertise for apply to base on | apologize for approve of benefit from | apply to arise from bid for bring up |
1. In the middle of the meeting our client …………._____the subject of compensation.
2. All reports need to be carefully written and........................... all the facts available.
3. The managing director was very satisfied: he........................... my recommendations.
4. If we want to fill the post, we'll have to............... _____ a qualified technician.
5. The clerk managed to.............................. the two missing packages.
6. If you look carefully at your copy of the contract you will see that this rule
........... you.
7. Computer operators wanted. Please............................. the manager within.
8. The whole company is going to............................. the South American order.
9. So many people................... _____ the job, that we had difficulty in deciding
who to select.
10. The authorities.................... the multinationals_____ the inflated prices.
11. Such problems can only.................. _____ bad planning.
12. The salesman............................... arriving late at the meeting.
13. The clerks had to work long after five to deal with the......................... orders.
14. Our agent.................... $500______ the fire-damaged merchandise.
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