Читайте также:
|
A business organization is often referred to as a business entity. A business entity is any business organization that exists as an economic unit.
A sole proprietorship is a business owned and usually operated by a single individual. Its main characteristic is that the owner and the business are one and the same. In other words, the revenues, expenses, assets and liabilities of the sole proprietorship are also the revenues, expenses, assets, and liabilities of the owner.
Advantages
A sole proprietorship is the easiest form of business to organize. It is easy to set up and dissolve it. The only legal requirements for starting such a business are a municipal licence to operate a business and a registration licence to ensure that two firms do not use the same name. A sole proprietorship offers the owner freedom and flexibility in making decisions. Major policies can be changed according to the owner’s wishes because the firm does not operate under a rigid charter. The other advantages are complete ownership of profits and lower tax rate.
Disadvantages
The owner is legally liable for all debts of the company because the financial condition of the firm is the same as the financial condition of the owner. A sole proprietorship may have difficulty in obtaining capital because lenders are leery of giving money to only one person who is pledged to repay. A proprietorship has a limited life, being terminated on the death, bankruptcy, insanity, imprisonment, retirement, or whim of the owner.
A general partnership is an enterprise owned by two or more individuals. A partnership agreement, oral or written, expresses the rights and obligations of each partner. Partnerships are common among businesses that provide professional services. Doctors, dentists, lawyers, accountants, brokers, and other professionals use this form of ownership to reduce overhead costs for each partner and to take advantage of each other’s expertise in various areas.
A limited partnership is enterprise in which one or more partners are granted limited liability, provided there is always at least one partner with unlimited liability who takes a more active part in managing the business.
Advantages
Partnerships, like sole proprietorships, are easy to set up. Complementary management skills are a major advantage of partnerships. Partnerships are a stronger entity than proprietorships: it is easier for them to attract new employees and raise additional capital. The other advantages are the following: even higher credit standing and better prospects for growth. Besides taxes are applied to individuals not to partnership,
Disadvantages
The major disadvantage of partnerships is that partners, like sole proprietors, are legally liable for all debts of the firm. In partnerships, the unlimited liability is both joint and personal. This means that the partners together are responsible for all the firm’s liabilities. If one of the partners cannot meet his or her share of the debts the other partner(s) must pay all debts.
Partnerships are not as easy to dissolve as sole proprietorships. Potential conflicts between partners are one of the disadvantages too.
Corporations are also referred to as limited companies. In limited companies, ownership is represented by shares of stock. The owners at an annual meeting elect a board of directors which appoints company officers and sets the enterprise’s objectives.
Advantages
Limited companies are the least risky from an owner’s point of view. Shareholders of corporations can only lose the amount of money they have invested in company stock. If an incorporated business goes bankrupt, owners do not have to meet the liabilities with their own personal holdings so the main advantages of corporations are limited liability of investors, ease of investing and withdrawing investment, ability to raise large amounts of capital and specialized management.
Disadvantages
Limited companies are taxed twice: on the profits they earn and on the dividends which come out of the profits. In proprietorships and partnerships earnings are only taxed once – as the personal income of the individuals involved.
A company must send each shareholder an annual report about the financial condition of the firm that results in the loss of financial confidentiality. Lack of motivation toward company goals among its hired managers is one of the disadvantages too.
There are other forms of business. A partnership set up to carry out a short-lived business project is called a joint venture.
Partnerships may be established that raise capital by selling portions of ownership on the open market in the form of stock certificates. Such an organization is called a joint stock company. It combines features of a partnership and corporation.
A very popular and rapidly growing form of business ownership is the franchise. This is a licensing arrangement that permits an individual to own his or her own business while benefiting from the use of the trademark. In other words, a company (franchiser) sells a licence to another company (franchisee), allowing the latter to produce and sell goods and services using its trademark. A franchiser has the right to control the quality of the goods and services produced by a franchisee. If it is not up to the mark, a franchiser has the right to withdraw its licence.
Small producers of goods or consumers of goods may form a cooperative in which production, marketing, or purchasing facilities are jointly owned and are operated mainly to provide a service to members rather than make a profit.
Vocabulary Focus
Ex. 1. Study the meaning of the following words agency; branch; enterprise; subsidiary, then use them to fill in the gaps:
agency – a business or place of business providing a service;
branch – a local office belonging to a national firm or organization;
subsidiary – a firm owned by a parent company;
enterprise – new commercial activity, often a small one.
1. Coca-Cola has a (n) … in more countries than there are in the United States.
2. A travel … can organize business trips as well as holidays.
3. A (n) … is a company of which more than half the share capital is owned by the holding company.
4. The major banks have at least one … in all large cites.
5. There are plenty of small industrial ….
Ex. 2. Complete the table by inserting the missing forms if possible.
| Noun | Verb | Adjective/Participle |
| liable | ||
| own | ||
| agreement | ||
| license | ||
| limit | ||
| expendable | ||
| cooperate | ||
| require |
Ex. 3. Match the words in column A with their antonyms in column B.
| A | B |
| 1) borrow (v) | a) earnings (n) |
| 2) expenses (n) | b) rigid (a) |
| 3) profit (n) | c) loss (n) |
| 4) producer (n) | d) withdraw (v) |
| 5) dissolve (v) | e) consumer (n) |
| 6) lender (n) | f) set up (v) |
| 8) invest (v) | g) borrower (n) |
| 9) flexible(a) | h) lend (v) |
Ex. 4. Match the words in column A with their synonyms in column B.
| A | B |
| 1) corporate (a) | a) earnings (n) |
| 2) expense (n) | b) set up (v) |
| 3) profit (n) | c) licence (n) |
| 4) producer (n) | d) incorporate (a) |
| 5) sole (a) | e) manufacturer (n) |
| 6) lender (n) | f) only/single (a) |
| 7) organize (v) | g) creditor (n) |
| 8) franchise(n) | h) expenditure (n) |
Ex. 5. Match the Russian words and word combinations with their English equivalents.
| A | B |
| 1) субъект хозяйствования 2) акционер 3) кооператив 4) совместное предприятие 5) акция 6) право собственности 7) доход 8) кредитор 9) пассивы/обязательства 10) активы 11) дебитор 12) частный предприниматель 13) расходы 14) совместная ответственность | a) assets b) business entity c) expenses d) sole proprietor e) lender f) joint liability g) liabilities h) ownership i) revenue j) cooperative k) shareholder l) share m) borrower n) joint venture |
Ex. 6. Express in one word, use the words for reference.
1. Having a responsibility or an obligation to do something, e. g. to pay a debt;
2. a person or organization to whom money is owed (for goods or services rendered, or as repayment of a loan);
3. to be insolvent/unable to pay debts;
4. everything of value owned by a business that can be used to produce goods, pay liabilities and so on;
5. an unincorporated enterprise owned by two or more individuals
6. to sell all the possessions of a bankrupt business;
7. a proportion of the annual profits of a limited company, paid to shareholders.
8. a partnership set up to carry out a temporary short-lived business project.
Words for reference: dividend; joint venture; liquidate; bankrupt; liability; partnership; creditor; assets.
Ex. 7. Insert the necessary prepositions.
1. A business organization is often referred … as a business entity.
2. A sole proprietorship is easy to set … and dissolve.
3. The company does not operate … a rigid charter.
4. The owner of the company is legally liable … all debts of the company.
5. They may have difficulty … obtaining capital.
6. Limited companies are taxed twice: … the profits they earn and … the dividends which come out of the profits.
7. Franchises benefit … the use of the trademark.
Ex. 8. Use the terms franchisees, franchise, franchise agreement, franchising, franchiser to complete the paragraph.
A company that wants to expand rapidly may choose … as a method. Ultramoda, an Italian company, is an example of a … operation. Ultramoda is the … and sells the right to sell goods using its name to …. These other businesses, which sign a … with Ultramoda, are usually small businesses, whereas the franchiser is a large international company.
Comprehension
Ex. 1. Say if the statements are true or false:
1. The revenues, expenses, assets and liabilities of the sole proprietorship are also the revenues, expenses, assets and liabilities of the owner.
2. A sole proprietorship cannot be dissolved as easily as it can be started.
3. The major advantage of partnerships is that partners are legally liable for all debts of the firm.
4. Partnerships are as easy to dissolve as sole proprietorships.
5. Limited companies are the most risky from an owner’s point of view.
6. If an incorporated business goes bankrupt, owners have to meet the liabilities with their own personal holdings.
7. Cooperatives are operated mainly to make a profit.
8. The business entity concept applies to all forms of businesses: single proprietorship, a partnership, and a corporation.
Ex. 2. Answer the following questions.
1. What are three most common types of business firms?
2. What factors affect the decision to choose a legal form of business?
3. What kind of firm is a sole proprietorship?
4. What is the proprietor solely responsible for?
5. How does a partnership differ from a proprietorship?
6. What kind of form of business organization is corporation?
7. What are the advantages and disadvantages of each type of business entity?
8. What is the most risky form of above enumerated businesses? Why?
9. What other forms of business organization do you know? What are their main objectives?
Ex. 3. Speak on the main forms of business organizations, their advantages and disadvantages.
Text 2
Read the text and do the tasks that follow.
Types of Companies and their Structure
Business entities can be grouped according to the type of business activity they perform.
1. Service companies perform services for a fee. This group includes companies such as accounting firms, law firms, repair shops, and many others.
2. Merchandising companies purchase goods that are ready for sale and sell them to customers. They include such companies as auto dealer-shops, clothing stores, and supermarkets.
3. Manufacturing companie s buy materials, convert them into products, and then sell the products to the companies or to the final customer. Examples are steel mills, auto manufacturers, and so on.
The size of the company is measured in terms of its assets. Two major categories of assets are current assets and fixed assets. Fixed assets include property, plant and equipment. Current assets generally consist of cash, marketable securities, receivables, inventories and prepayments.
The number of state owned companies as telecommunications, water, and gas has been decreased lately. Companies in the non-governmental sector consist of two basic types: public and private. The difference between public limited and private limited firms, on paper at least, can be found in their names. The word ‘limited’, often shortened to ‘Ltd’ after a company’s name, shows that it is private. On the other hand, the status of a public company is shown by the letters “plc” after its name. This is short for “public limited company”. Private company is a limited company that does not issue shares for public subscription. On the contrary, public company is a limited company whose shares may be purchased by the public and traded freely on the open market.
The company is operated by the board of directors. The directors are appointed by the shareholders, normally at the company’s annual general meeting (AGM), at which the chairman of the board will be expected to account for their stewardship during the previous year. The company’s accounts will be presented to the shareholders at that time so they can judge for themselves whether or not the board has been successful.
The fact that boards of directors tend to meet rather infrequently, say once a week, explains why part-time directors can be elected to the board. Since they do not have departmental responsibilities within the company they are often described as non-executive directors. Some are lawyers, or experts in tax affairs. Some represent influential groups of shareholders. The board of directors of a company is primarily responsible for determining the objectives and policies of a business.
In the long history of management, four major kinds of internal company structure have evolved: line, line-and-staff, functional and matrix. All of these structures are ways of delegating authority and assigning responsibility.
An internal business structure in which every employee is a member of a
direct chain of command from the top executive down through the levels
of management is called a line organization. In this structure, every
person is directly responsible to a single supervisor who is superior in
the organization.
As the complexity and size of the company increase, managers usually find it necessary to modify the line organization by adding staff specialists to handle certain specific duties. Staff specialists perform technical services and provide expert guidance to line managers. This is called line-and-staff organization.
An alternative way to organize a business is to assign managers the responsibility for all activities and decisions in certain defined functional areas of operation. This is called functional organization. This structure, for example, might have five managers who are responsible only for their own departments – Production, Marketing, Finance, Research & Development and Personnel.
A fourth kind of organization is used by firms that must manage a number of one-time projects- such as road, dam, or bridge building. These firms use a matrix organization, which allows a project manager to exercise temporary authority over a number of specialists who also must report to different line managers for supervision in their specialties.
Ex. 1. The diagram shows those who control a public limited company. Use the terms in the box to complete it.
| Board of directors managers shareholders |
1. _________________ (owners of the company).
2. _________________ (responsible to the shareholders).
3. _________________ (appointed by the board to run the company).
Ex. 2. Use the terms in the box to complete the paragraph.
| board of directors board senior executives chief executive officer managing director company secretary chair |
People at the head of an organization are … or senior managers. The … is the person who has overall responsibility for the day-to-day running of an organization. In the case of a limited company the CEO is normally the …, appointed by the … on the authority of its members. The same person is usually the … of meetings of the …, i. e. the people who are legally responsible for the company. The person responsible for keeping the minutes of board meetings is the ….
Ex. 3. Read the information about four companies below and say which matches each of the following terms: a sole trader/sole proprietor; a partnership; a limited company; a plc.
1. Mike Gobb set up an art gallery last year. He owns the gallery and managers it by himself.
2. Craftplay is a medium-sized firm whose shares are available on the stock market.
3. Ovenclean went bankrupt last year, but its shareholders were not made responsible for all the money it owed.
4. Brothers Gianfranco and Giancarlo Belew recently set up an import-export company. They run the business together.
Ex. 4. Comment on.
– the types of companies according to their functions;
– the difference between ltd and plc;
– the activities of the board of directors;
– four major kinds of internal structure.
Text 3
Read the text and do the tasks that follow.
Takeovers and Mergers
Once a company goes public, its shares can be bought and sold on by anyone. The company no longer has the protection of private status, where a small group of shareholders can decide who should be allowed to buy shares. Now, the highest bidder can buy the company’s shares. If the bidder buys more than 50% of the company’s shares, he takes control of the company. This is known as a takeover. Note that a takeover is not the same as a merger.
A merger is a notably different transaction from a takeover. A merger occurs when two (or more) firms agree to pool all their resources and join together to form a brand new company. The original companies disappear and their shareholders receive shares in the newly formed company according to conditions drawn up and agreed at general meetings of the merging companies.
There are different types of merger. Assuming Company A is a manufacturer of goods, in vertical forward integration, it mergers with another company that is higher up the production line and closer to the customer. Company B might be a retailer of Company A goods.
In vertical backward integration the reverse applies, and Company A mergers with a supplier of raw materials. Therefore, if Company A manufactures toys from plastic, it might merge with Company B which supplies the ingredients for the plastic.
Horizontal integration means that Company A mergers with another at the same level of production and in the same market. In this case, Company B is also a manufacturer of toys.
Conglomerate integration occurs if Company A decides to enter a new market and merge with (or take over) Company B which manufactures other goods.
Let us turn again to takeovers. How to buy a company? Quite simply, the purchase of more than 50% of the company’s shares allows potential takeover bidder to gain control of a company. To buy those shares, a potential takeover bidder must make an offer to existing shareholders. The price it offers to pay for the shares is likely to be well above the current stock market value.
What happens after the initial offer? At this point, it is important to introduce the role played by the board of directors of the target company. If the board issues a statement rejecting the offer, many shareholders may take this advice. The potential buyer may decide to make an increased offer to tempt more shareholders or withdraw.
If the directors decide to reject a takeover bid, it is then in the hands of the existing shareholders to decide on the attraction of the price being offered. This is the point where the magic figure of over 50% of shares comes to the fore. Whether or not the directors of the target firm are in favor, a predator that can manage to accumulate more than half the target’s shares will have effective control. It may do this by stealthier means than an open bid. This is the territory of ‘dawn raids’ – when the predator, or its agents, start buying shares of the target company as soon as the market opens in the morning, in the hope that they can catch the market by surprise and accumulate enough shares quickly without anyone quite realizing that a takeover is in the offing.
To avoid a hostile takeover the target company may seek a ‘white knight’, another company with which it would prefer to merge.
A frequent motive behind many US and UK takeovers is to sell off the assets of the acquired company. If a company’s stock market value is assessed at less than its combined real assets – such as land and capital equipment – it may become vulnerable to hostile takeover bids which will result in the company’s demise, as it is closed down and its assets are sold off.
Ex. 1. Match up these words with the definitions below.
| backward integration, forward integration, horizontal integration, to innovate (innovation), to merge (a merger), a takeover bid, vertical integration, a raid |
1) to design new products and bring them to the market;
2) to unite, combine, integrate or join together;
3) buying another company’s shares on the stock exchange, hoping to persuade enough other shareholders to sell to take control of the company;
4) a public offer to a company’s shareholders to buy their shares, at a particular price during a particular period, so as to acquire a company;
5) a merger with or the acquisition of other firms producing the same type of goods or services;
6) joining with firms in other stages of the production or sale of a product;
7) a merger with or the acquisition of one’s suppliers;
8) a merger with or the acquisition of one’s marketing outlets.
Ex. 2. Answer the questions.
1. How can you define a merger? What are different types of merger?
2. How do takeovers and mergers differ?
3. What are the roles played by the board of directors of the target company and the bidder in the process of takeover?
4. What is the role of predators during dawn raids?
5. What does the target company do to avoid a hostile takeover?
WRITING
Analyze a company organization chart and write its description or a description of any company you know in about 100-150 words. Make use of information below the chart.
| Board of Directors with a Chairman (GB) or President (US) | ||||||||||||||||||||
| Managing Director (GB) or Chief Executive Officer (US) | ||||||||||||||||||||
| Production | Marketing | Finance | Research & Development | Personnel | ||||||||||||||||
| Market Research | Sales | Advertising & Promotion | Financial Management | Accounting | ||||||||||||||||
Useful information:
I.
The most common verbs for describing structures are: consist of, is composed of; contains, is made of; includes, is divided into
e. g. The company consists of five main departments.
The marketing department is made up of three units.
The sales department is divided into two sections.
Other verbs frequently used to describe company organization include: to be in charge of, to support or to be supported by, to be accountable to, to be responsible for, to assist or to be assisted by
e. g. The marketing department is in charge of the sales force.
The marketing department is responsible for advertising, sales promotion and market research.
The five department heads are accountable to the Managing Director.
TRANSLATION
A. Translate from English into Russian.
Flotation
A public limited company (plc) is the only type of business organization whose shares can be traded on the stock market. The process of becoming a public limited company is commonly referred to as flotation – the shares in the company are ‘floated’ on the stock market.
When a company decides to float on the market it will appoint a financial advisor, usually a merchant bank, to help it through the process. In addition to providing advice on the administrative aspects of the flotation, the key role of the advisor will be to advise on the price at which shares are to be offered for sale. In essence, the merchant bank uses its market knowledge to assess the likely price at which the firm will be able to sell the number of shares it has to offer. Once an offer price has been decided, a glossy prospectus will be produced to aid the sale of the firm’s shares. The prospectus will include details of:
· what the firm plans to do with the money it is trying to raise;
· a fully audited financial statement of the firm’s current financial position and history;
· details of where the shares being offered to the market are coming from – they may be newly created shares or alternatively shares that are owned by existing shareholders.
The prospectus will also include an application form, to be filled out by anyone wishing to purchase shares. Those applying will fill out the form, stating how many shares they wish to purchase and send off a check to cover the cost of those shares.
On the day of flotation, the results of the application process will be announced. The company will declare how many of the shares have been sold, with any unsold shares being purchased by the underwriter.
Each new share issue will be underwritten (guaranteed to be bought, if no one else wants it), usually by the bank offering advice to the company floating. The underwriter will charge a fee, which is often set as a percentage of the sum the company hopes to raise by floating. In return, the underwriter will guarantee to buy any shares that are unsold from the original application process.
If the issue of shares has been oversubscribed (a situation where the applications received outstrip the number of shares available), shares will be allocated in direct proportion to the number applied for. Immediately the results of the issue have been publicized, trading in shares is likely to start on the market. The original issue price will be the starting price, but this may change dramatically within minutes, particularly if the share issue was under or oversubscribed. An oversubscribed issue will mean that the price will rise quickly, whilst an undersubscribed offer will see investors looking to offload their overpriced shares in an attempt to cut their losses.
B. Translate from Russian into English.
Основными социально-экономическими формами организации предпринимательства являются: единоличное владение, партнерство и корпорация. Единоличное владение основано на собственности одного лица или его семьи. Его признаками являются: неограниченная ответственность; ограниченные возможности; максимальная гибкость и оперативность.
Партнерство базируется на собственности нескольких человек или семей. Основными признаками являются: неограниченная ответственность; ограниченные возможности; временный характер соглашения, разделения вклада, труда и доли доходов.
Корпорация представляет собой объединение собственности множества субъектов. Основной способ объединения – выпуск акций. Характерными признаками корпорации являются: широкие возможности в связи с привлечением капитала других юридических и физических лиц; длительность участия; ограниченная гибкость (действие устава).
LISTENING
Advising Companies
A. Richard Brown is the managing partner of Cognosis, a management consultancy in London which advises companies on organisation and change. Listen to the first part of the interview and answer these questions.
1. What four approaches does Cognosis use to analyse a business?
2. How many different business ‘character types’ does Cognosis recognise?
3. What three things do companies deal with differently, according to Richard?
B. Listen to the second part of the interview. Tick the sentences below which are true, according to Richard, and correct those which are false.
1. The hardest way to change the character of a business is to merge it with another company.
2. When Guinness and Grand Metropolitan merged, they wanted to create a business culture which was different from the two companies.
3. The senior managers spent a lot of money training staff in the new business methods.
4. The new culture was only partly successful.
C. In the third part of the interview, Richard Brown describes three ways in which successful companies are similar. Complete the description below.
First, they’re ……1: they have a very clear sense of ……2. Second, they’re ……3: they invest much time and energy in understanding and ……4. And third, they are … – …5. By that I mean that people inside the organisation are very clear about the values that should ……6 behaviours.
SPEAKING
A. Useful language: Introductions and networking.
| Greeting Hello …. Nice to see you again. Hi …. How are you? How’s everything going? | Talking about your company The company was founded in… We make/manufacture/sell/ distribute… We have subsidiaries/factories/branches in… We have a workforce of 2.000. Our main competitors are… | Talking about common interests You and Heinz have something in common. You both like/enjoy/are interested in… |
| Introducing yourself I’m from…/I’m with…/I work for… I’m in sales/finance/ marketing. I’m in charge of… I’m responsible for… | Responding Fine, thanks. Not too bad, thanks. Nice/Pleased to meet you. It’s a pleasure. | Networking We’re very interested in … Do you know anyone who could help us? Could you let me have their contact details? Could I call him and mention your name? Let me give you my business card. |
Ex. 1. Listen to the three conversations. Choose the correct description from the list for each one.
Greeting someone and talking about the past.
Introducing another person.
Introducing yourself and giving information about your company.
Ex. 2. Listen to the first conversation again and answer these questions.
1. Which of these expressions do you hear in the dialogue?
| a) Nice to see you again. b) Fine, thanks. c) Wonderful! | d) How about you? e) I changed my job last year. f) I’m in banking now. |
2. Who is head of data processing?
3. Who now works in marketing?
Ex. 3. Listen to the second conversation again and complete the chart below.
| Name Don Larsen Erika Koening | Company | Activity |
Ex. 4. Listen again and complete this extract from the second conversation.
| Don | Well, we’re basically an ……1 business. We supply large companies with various services including payroll, ……2 and human resources. |
| Erika | Is Atsource solutions a new company? |
| Don | No, we’re well established. The company was ……3 in 1978. It’s organized into three ……4. We have over 6.000 ……5; we’ve got our ……6 in Frankfurt and ……7 in over 20 countries – we’re pretty big. |
Ex. 5. Listen to the third conversation again and answer these questions.
1. What expression does John use to introduce Miriam?
2. Why could Miriam be helpful to Heinz in his work?
3. What interest do they share?
B. Case Study: Visitors from China.
Background
Toyworld is a profitable toy retailer based in Seattle, US, with subsidiaries in over 30 countries. Toyworld buys its products from suppliers all over the world.
Mr Lee Chung, head of a toy manufacturing firm based in Guandong, China, is going to visit the Toyworld subsidiary in your country. Mr Chung will be accompanied by his Export Manager, John Wong. The purpose of the visit is to get to know Toyworld’s management better and learn more about the company. He may set up a joint venture with Toyworld if he has confidence in them and considers them to be a suitable partner. This is Mr Chung and Mr Wong’s first visit to your company, and to your country.
Task 1
You are members of the planning committee for Mr Chung’s visit. Read the
e-mail informing you about Mr Chung’s visit.
To … Manager, Public Relations
From … Chief Executive
Subject: Mr Lee Chung’s visit Date: 2 June
Mr Lee Chung and Mr John Wong will arrive at 9.10 a.m. on Monday 20 June and leave on Thursday 23 June.
When you prepare the draft program, please schedule a meeting (morning or afternoon) during which we can discuss our business plans with Mr Chung and Mr Wong. Also, make sure that our visitors have opportunities to meet our staff and gain a complete understanding of our business.
The visitors will expect to have some basic information about Toyworld and to be offered activities which give them an understanding of the company. Please also arrange some social and cultural activities during their stay.
Above all, we do not want to make any cultural mistakes during the visit. We want Mr Chung and Mr Wong to leave with an excellent impression of our company and the way we treat foreign visitors.
To help you plan the visit, please could you attend the talk by Catherine Eng (an expert on Chinese business culture).
Peter Lewis
Chief Executive
Task 2
Listen to the talk given by Catherine Eng. Make notes of her key points.
Task 3
Plan a draft program in small groups. After that, compare your ideas with the rest of the class and produce the final program. Think over the contents of
e-mail to Mr Chung with details of the program for his visit. The tone of the
e-mail should be friendly and show that you and your colleagues are looking forward to meeting him soon.
Дата добавления: 2015-10-28; просмотров: 438 | Нарушение авторских прав
| <== предыдущая страница | | | следующая страница ==> |
| THE GLOBAL ECONOMY | | | Key questions for the planning committee |