Comprehension Check. 1. Use the best alternative to complete the statements.

1. Use the best alternative to complete the statements.

1. The term "factors of production” means the same as …

a) natural resources;

b) inputs;

c) production of goods and services.

2. Land is … a) human effort;

b) man-made resource;

c) a passive factor.

3. Capital is … a) the reason why economic activity takes place;

b) any product of labour and land;

c) directed to the production of goods and services.

4. Entrepreneurship is …a) a one-person business;

b) organization and management;

c) the practice of starting a new business.

2. Are these statements True or False? Correct the false ones.

1. There are three factors of production.

2. Land is a man-made resource.

3. Labour can be both physical and mental.

4. Labour is a passive factor in production.

5. The entrepreneur must take the decisions what, how, and where to produce.

3. Answer the questions.

1. What are “inputs”?

2. Does land include only the site of production?

3. Why is land considered a passive factor of production?

4. Is labour only a factor of production?

5. How do capital and labor differ from land?

6. Who takes decisions and risks in the process of production?

7. What are the entrepreneurial functions?

Vocabulary Focus

1. With the help of the text, translate into English the following words and phrases.

создавать что-либо

играть важную роль

чётко отличаться от чего-л.

над или под землёй

сельскохозяйственное угодье

удовлетворять потребности и желания

принимать участие в производстве

созданный руками человека

простейшие орудия труда

принимать решения.

2. Find in the text synonyms to the words below.

- to make

- to help

- to take action

- natural reserves

3. Fill in the gaps with prepositions, if necessary.

1. My colleagues are carrying … research on business ethics.

a) out

b) on

c) away

2. We shared … the money equally.

a) out

b) between

c) -

3. The meeting takes place … the hall every Friday.

a) at

b) in

c) on

4. The President was assisted … his advisers.

a) with

b) by

c) -

5. I sometimes have difficulty distinguishing Spanish … Portuguese.

a) between

b) from

c) with

Talking Points

1. Explain why the factors of production are interdependent.

2. Consider the four factors of production that went into the making of any book. Label each item: LD for land, LR for labor, C for capital, or E for entrepreneurship.

1. trees _____

2. computers _____

3. publishing executive _____

4. salesperson _____

5. editor _____

6. petroleum _____

7. oil used for fertilizer _____

8. book presses _____

9. word processing specialist _____

10. typesetter _____

11. storage shelves _____

12. publisher’s building site _____

2. “An Entrepreneur”, according to the American Heritage Dictionary, is “someone who organizes, operates, and assumes risk for business ventures.” In your opinion, what some common traits of character do successful entrepreneurs share?

3. Is it possible to improve the efficiency of the factors of production? If yes, in what way?

Summary Points

1. Read the text about factors of production once again. What is its main idea?

2. Divide the text into logically complete parts. Take notes on the most important information each paragraph contains. Report it to the whole group.

UNIT 10

FORMS OF BUSINESS

Lead-in

1. Many people dream of having their own business. To see if starting a business is right for you, you have to ask yourself some very important questions. Your answers will help you determine if you are ready to become a small business owner, what kind of business you want, what your target audience is, who your competitors are, etc. Working with a partner, make a list of these questions.

2. Would you like to start your own business? What kind of business would it be? What would your main business goal be?

3. What are the dangers of having your own business?

Key Vocabulary

Make sure you know the following words and word-combinations.

1. ownership n	собственность, право собственности
2. vary v	меняться, варьироваться
3. partnership n	товарищество
4. joint stock company	акционерное общество
5. cooperative society	кооператив
6. public corporation	государственная корпорация
7. enterprise n	предприятие; предприимчивость, инициатива
8. assume risks	принимать на себя риск
9. be responsible for	быть ответственным за
10. disadvantage n	недостаток
11. liability n	ответственность
12. carry on n	вести (дело)
13. personal possessions	личное имущество
14. contribute v	сотрудничать, делать вклад
15. stockholder n	акционер
16. mutual benefit	взаимная выгода
17. flow in	поступать (о деньгах)
18. tax n	налог

Pre-reading Activities

1. Study the following rules of word-building. Use the dictionary and tell what parts of speech (части речи) these words are.

an owner à	ownership
a partner à	partnership
a proprietor à	proprietorship

liable à	liability
responsible à	responsibility

2. Complete the chart.

NOUN	VERB	ADJECTIVE
		own
liability	-
	vary
benefit
		personal
disadvantage

Reading

Read the text carefully and do the tasks that follow.

A business (also known as enterprise or firm) is an organization designed to provide goods or services. Although forms of business ownership vary greatly, there are several common types: the sole proprietor, the partnership, the joint stock company, the cooperative society, the public corporation, etc.

The sole proprietor is the simplest and the oldest form of business enterprise and is 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 responsible for the success or failure of the business, and has, therefore, the sole rights to profits.

The great disadvantage of the sole proprietor is that the owner is personally liable for the debts incurred by the firm and his liability is unlimited. All his personal possessions are at risk.

Partnerships are voluntary combinations of from 2 to 20 persons formed for the purpose of carrying on business with a view of profit. The motive, however, may not be financial. Partnerships are often formed in order to bring new ability and enterprise into the business. They are flexible organizations which allow a greater degree of specialization, but the liability of the partners is unlimited and they are fully liable for the acts of other partners.

The joint stock company consists of an association of people who contribute towards a joint stock of capital for the purpose of carrying on business with a view of profit. A change in membership or a transfer of stock has no effect on the existence of the company. Unlike partners in a partnership, a stockholder in a joint stock company has no agency relationship to the company or any of its members.

A cooperative is a business organization owned and operated by a group of individuals for their mutual benefit. They are limited liability businesses that can be for-profit or not-for-profit. Members often have a close association with the enterprise as producers or consumers of its products or services, or as its employees.

Choosing the right form of business ownership is important because the form of business you choose will determine how your business is organized, how the money that flows in and out of your business is handled, and how your business is taxed.

Comprehension Check

1. Read the text again and decide whether these statements are about the sole proprietor, the partnership, the joint stock company, or the cooperative society.

1. This type of business is easy to organize, but it needs agreement; partners receive all income and partners have unlimited liability.

2. This type of business is easy to organize, the owner has complete control and receives all income.

3. In this type of business the owner has unlimited liability.

4. Such a company has some features of a corporation and some features of a partnership. It sells fully transferable stock, but all shareholders have unlimited liability.

5. This is a jointly owned commercial enterprise (usually organized by farmers or consumers) that produces and distributes goods and services and is run for the benefit of its owners.

2. Answer the questions.

1. What is the purpose of any business?

2. Do forms of business vary? What are they?

3. In what way is the sole proprietor often referred to?

4. Are there any disadvantages of sole proprietorship?

5. What are partnerships?

6. Is the motive of a partnership to make a profit?

7. Is the joint stock company the simplest and the oldest form of business enterprise?

8. What are the characteristics of a cooperative?

9. Why is choosing the right form of business important?

Reproduce the context in which the following word-combinations are used.

- common types

- one-person business

- an association of people

- to take decisions

- to be responsible for

- to be liable for

- to carry on business

- to own and operate

- benefit

- profit

Vocabulary Focus

1. Complete the gaps choosing the right alternative.

1. In a partnership, the business is … by two or more people.

a) varied b) assumed c) owned

2. Every job has its ….

a) disadvantages b) enterprise c) tax

3. Demand for certain products … with the season.

a) contributes b) flows in c) varies

4. Mr Lee … many charities.

a) assumes risks of b) contributes to c) flows in

5. He packed all his … into one bag.

a) possessions b) ownership c) liabilities

6. I didn’t get much … from this transaction.

a) responsibility b) benefit c) disadvantage

7. The baker has … business here for years.

a) varied b) carried on c) flown in

2. Look through the text once again and find the English equivalents.

предоставлять товары и услуги

несколько стандартных типов

быть ответственным за успех или неудачу

исключительное право на прибыль

нести персональную ответственность за долги

быть образованным с целью;

с целью ведения бизнеса

передача фондов

агентские (посреднические) отношения

коммерческий или некоммерческий

контролировать потоки денег

3. Change the words on the right to complete the sentences below.

1. He is the … of 2 houses.	ownership
2. You are … for the damage caused by your action.	responsibility
3. The … for this deal is yours!	responsible
4. An association of persons joined as partners in business is a …	partner
5. I’m proud to be his …!	partnership
6. He spent only his … money to buy this flat.	ownership

Talking points

1. The choice of the form of business or business organization depends on various factors. Share your ideas about them.

2. Partnerships consist of two or more partners who are both responsible for the business. They share assets, profits, liabilities, and management responsibilities for running the business. Before making a decision concerning whether to have a partner or not, it is better to prepare a "for" and "against" list. What are the most common reasons for joining with another person to start the business? Discuss all the advantages and disadvantages with your partner and make a "for" and "against" list.

3. In your opinion, do men or women make more successful business people? Why?

Summary Points

1. Summarize the main idea of the text below.

There are numerous reasons that make people think about owning a business of their own. Personal independence, unlimited profit potential, the opportunity to work at something they really love are some of the reasons people have given for trying entrepreneurship. Many business leaders begin their careers as entrepreneurs after four years of undergraduate college training and even additional graduate school training. Others become successful entrepreneurs without special training.

Many colleges now offer programs that teach students how to start and operate a business. Basic information is combined with hands-on experience and the advice of successful business consultants. These programs help potential entrepreneurs decide whether their own ideas are good and how to follow through with them.

A common way to learn about business, and the opportunities for starting one similar to it, is to learn while working for someone else. It provides a source of steady income to people while they are planning to start their own businesses. About 50 percent of entrepreneurs start their businesses in industries in which they have some experience.

2. Divide the text into logical parts and use appropriate vocabulary to make its summary.

Unit 11

GOVERNMENT AND BUSINESS

Lead-in

Classify the tasks you consider to be governmental responsibilities in order of importance.

- education

- health care

- working conditions

- social security

- defence

- public transport

Key Vocabulary

Study the following list of vocabulary.

1. interfere in smth \ intervene in smth	вмешиваться во что-л.
2. allow v	позволять, разрешать
3. responsibility n	ответственность
4. poverty n	бедность
5. essential adj	важнейший, необходимый
6. recreational facilities	места отдыха и развлечений
7. invest in smth	инвестировать, вкладывать
8. environment n	окружающая среда, окружение
9. free enterprise system	система свободного предпринимательства
10. government regulation	государственное регулирование
11. laissez-faire	невмешательство
12. tax breaks	налоговые льготы
13. fine-tune v	регулировать
14. inflationary adj	инфляционный
15. deep recession	глубокий спад
16. threaten v	грозить, угрожать
17. reduce v	сокращать, уменьшать, понижать
18. interest rate	процентная ставка
19. economic emergency	чрезвычайное экономическое положение
20. runaway inflation	безудержная инфляция

Pre-reading Activities

Translate the sentences into Russian. Mind the list of Useful Vocabulary.

1. If inflation threatens the US economy, the Federal Reserve System may adopt policies that increase interest rates.

2. During a depression the government may try to increase demand by cutting taxes so that people have more money to spend.

3. An essential part of economic freedom is freedom to use the resources we possess in accordance with our own values.

4. In some countries producers don’t depend on the government regulations and make all decisions themselves.

5. A mixed type of economy with a rather high degree of government intervention is a feature of some developed countries, such as the USA, Canada, Japan.

Reading

1. Read the text. Ask 4-5 questions about its contents and let the group answer them.

To what extent should the government interfere in the economic system? On the one hand, it can intervene minimally, allowing the forces of supply and demand and the price mechanism to determine what goods and services are to be produced. On the other hand, the government can make all major decisions such as what to produce, how to produce and for whom to produce.

Most governments operate between these two extremes. But there are always some things which are under the government’s control. For example, health care is a sphere of a state responsibility in all civilized lands, as no one can be assigned to illness or death because of poverty. The state has many other essential functions: parks and recreational facilities, the police, libraries and others. By the way, to support science is also the government’s responsibility. Together with this, it usually invests in agricultural productivity, modern air transport, advanced information technologies and the environment.

The USA points to its free enterprise system as a model for other nations. But exactly how free is business in America’s free enterprise system? The answer is, not completely, because a complex web of government regulations shapes many aspects of business operations.

It is known that historically, the US government policy toward business was summed up by the French term laissez-faire – “leave it alone”, but laissez-faire practices haven’t prevented private interests from turning to the government for help on numerous occasions, such as grants of land and public subsidies, protection against strong competition, tax breaks and others.

As for the British government, it seeks to fine-tune the economy in order to keep economic booms from becoming too inflationary and recessions from becoming too deep. The British government often manages demand, intervening when demand for goods and services is high enough to threaten inflation. In such cases the government tries to reduce demand by raising interest rates and taxes. In economic emergencies the government can control prices and incomes to a considerable extent, but this is done only in extreme circumstances such as in times of war and runaway inflation.

Comprehension Check

1. Agree or disagree with these statements about the text.

1. Sports care is a sphere of state responsibility in all civilized lands.

2. China points to its free enterprise system as a model for other nations.

3. A complex web of the US government regulations shapes many aspects of business operations.

4. In economic emergencies the British government never controls prices and incomes.

2. Find the paragraph, which gives the answer to the following question.

- What spheres of life are usually under the government control?

A. 1 B. 2 C. 3

3. Complete the sentences using the information from the text.

1. As for the British government, it seeks to ……….

2. The state has many other essential functions: ……….

3. On the other hand, the government can make ……….

5. In economic emergencies the government can ……….

Vocabulary Focus

1. Match the words on the left with their synonyms on the right.

1. essential a. decrease

2. interfere b. let

3. reduce c. important

5. allow e. regulate

2. Use the words from the list of Useful Vocabulary to complete the sentences.

1. The American ….. emphasizes private ownership.

a. deep recession

b. free enterprise system

c. interest rate

2. While most Americans would agree that ….. has an important role to play in the economy, there is a considerable disagreement as to how active this role should be.

a. government

b. environment

c. responsibility

3. People who ….. in education, gain profit in the form of knowledge.

a. interfere

b. invest

c. reduce

4. A serious, long-lasting ….. is called a depression or a slump.

a. inflation

b. increase

c. recession

5. In carrying out ….., the government uses a combination of monetary and fiscal policies.

a. fine-tuning

b. laissez-faire

c. tax breaks

6. If a(n) ….. is lowered, businesses will borrow more from the banks, jobs will be created, but prices might rise and that means inflation.

a. run-away inflation

b. government regulation

c. interest rate

3. Give the English equivalents to the following expressions.

- чрезвычайное экономическое положение

- налоговые льготы

- безудержная инфляция

- производить товары и услуги

- современные информационные технологии

- принимать решения

- поднять процентную ставку

- контролировать цены и доходы

Talking Points

1. Comment on the quotations.

1. “Which is the best government? That which teaches us to govern ourselves”.

Johann Wolfgang von Goethe

2. “That government is the best which governs least, because its people discipline themselves”.

Thomas Jefferson

2. Express your opinion on the following issues.

1. To what extent should the government interfere in the economic system?

2. Some economists state that the government interferes in the economy too much. Others say it should do more. What are your arguments for and against government control? While answering this question, you may use the following phrases.

- To my mind ………

- I think ………

- In my opinion ………

- On the one hand ………, on the other hand ………

Summary Points

1. Read the text and choose the most suitable title out of those given below.

A. Small Business in the USA.

B. The Role of the Government and Individuals in the American Economy.

C. The Mixed Type of the American Economy.

The American free enterprise system emphasizes private ownership. Private businesses produce most goods and services, and almost two thirds of the output goes to individuals for personal use.

However, there are limits to free enterprise system. Americans have always believed that some services are better performed by public rather than private enterprises. For example, in the US the government is responsible for the administration of justice, education (although there are many private schools), road system, and national defense. The American government also provides unemployment benefits to people who cannot support themselves; it pays much of the cost of medical care for those who live in poverty; it regulates private industry to limit air and water pollution; it provides low-cost loans to people who suffer from natural disasters; and finally, it has played the leading role in the exploration of space, which is too expensive for any private enterprise to handle.

In the American economic system, individuals can help guide the economy through the choices they make as consumers and through the votes they cast for officials who shape economic policy. In recent years, consumers have voiced concerns about product safety, environmental threats and potential health risks. The government, in its turn, has responded by creating agencies to protect consumer interests.

The US economy has recently changed in other ways as well. The labor force has shifted to service industries. In today’s economy, there are much more providers of services than producers of agricultural and manufactured goods.

Notes:

cast votes – голосовать

voice concern – выражать беспокойство

shift v– перемещать(ся), передвигать(ся)

2. Put down key words and expressions from each paragraph.

3. Summarize the text, basing on the key words and expressions you have put down.

Unit 12

CORPORATE CULTURE

Lead-in

1. Split into groups. Within your group discuss the issues below. Share the opinion of your group with the others.

1. How do you understand the term “corporate culture”?

2. What is the role of corporate culture in successful business?

2. Choose the factors which are influenced by corporate culture. Then comment on your choice.

- communication in the company

- profit of the company

- planning

- decision-making

- image of the company

- management of the company

- size of the company

- personal relations in the company

- hobbies and interests of employees

- payment of work in the company

Key Vocabulary

Study the following list of vocabulary.

1. corporate culture	корпоративная культура(свод наиболее важных положений деятельности организации, определяемых её миссией и стратегией развития и находящих выражение в совокупности социальных норм и ценностей разделяемых большинством работников)
2. belief n	вера, мнение, убеждение
3. staff n	штат служащих, персонал
4. govern v	управлять, править, руководить
5. behave v	вести себя, поступать
6. evolve v	развиваться, эволюционировать
7. employee n	служащий, работающий по найму
8. restrict v	ограничивать
9. solve a problem	решать проблему
10. perceive v	воспринимать, понимать, осознавать
11. perception n	восприятие, осмысление, осознание
12. background n	происхождение, биографические данные, связи, окружение (всё, что связано с жизнью человека)
13. research n	исследование, исследовательская работа
14. encourage v	поощрять, поддерживать в чём-л.
15. accuracy n	точность
16. emphasize v	придавать особое значение, подчёркивать
17. status quo	статус-кво, существующее положение вещей

Pre-reading Activities

1. Complete the table with missing words. Consult a list of Key Vocabulary and a dictionary if necessary.

Verb	Noun
	belief
perceive
	government
solve
employ
	behaviour
restrict

2. Translate the sentences into Russian. Mind the words from exercise 1.

1. People’s creativity is restricted by routine and traditional office hours.

2. Many governments cut advertising expenditures during poor economic times.

3. A slogan is believed to express a key corporate value.

4. In recent years, there have been changes in employment, which have affected practically all the work force.

5. It’s known that employee’s behavior influences the image of the company.

Reading

Read the text and be ready to speak about corporate culture and its characteristics.

Corporate culture can be defined as a set of key values, beliefs, understandings and norms shared by members of an organization. It represents the unwritten, informal norms that bind the company staff together. Just as tribal cultures have rules and taboos that dictate how members will act toward one another, modern organizations have cultures that govern how their members should behave. In every company, there are systems or patterns of values, symbols, rituals, myths, and practices that have evolved over time. These shared values determine what employees see and how they respond to their world. When confronted with a problem, corporate culture restricts what employees can do by suggesting the correct way – “the way we do things here” – to define, analyze and solve the problem.

Corporate culture is a perception, because individuals perceive the culture of the company on the basis of what they see or hear within this company. Even though individuals may have different backgrounds or work at different levels in the organization, they tend to describe the organization’s culture in similar terms. That is the shared aspect of culture.

Corporate culture is also a descriptive term, because it is concerned with how members perceive the company and it is not concerned with the fact whether they like it. So, corporate culture describes rather than evaluates.

Research suggests that there are 7 characteristics which cover the essence of an organization’s culture.

1. Innovation and risk taking. The degree to which employees are encouraged to be innovative and to take risks.

2. Attention to detail. The degree to which employees are expected to show accuracy, analysis and attention to detail.

3. Outcome orientation. The degree to which managers focus on results or outcomes rather than on the techniques and processes used to achieve those outcomes.

4. People orientation. The degree to which management decisions take into consideration the effect of outcomes on people within the organization.

5. Team orientation. The degree to which work activities are organized around teams rather than individuals.

6. Aggressiveness. The degree to which people are aggressive and competitive rather than easygoing and cooperative.

7. Stability. The degree to which company activities emphasize maintaining the status quo in contrast to growth.

Comprehension Check

1. Agree or disagree with these statements about the text.

1. Corporate culture represents the unwritten, informal norms that bind the company staff together.

2. Corporate culture evaluates rather than describes.

3. Research suggests that there are 10 characteristics which cover the essence of an organization’s culture.

4. In every company, there are systems or patterns of values, symbols, rituals, myths and practices that have evolved over time.

2. Answer the following questions.

1. How is corporate culture defined in the text?

2. Why is corporate culture considered to be a perception?

3. Why is corporate culture considered to be a descriptive term?

4. What are the characteristics which cover the essence of an organization’s culture?

3. Choose the suitable title for the first paragraph of the text.

A. The shared values of corporate culture.

B. The definition of corporate culture.

C. The informal norms of corporate culture.

Vocabulary Focus

1. Match the words with their definitions.

1. corporate culture	a. the existing state of affairs.
2. staff	b. a person’s social class, education, training, or experience.
3. background	c. a set of key values and beliefs shared by members of an organization.
4. status quo	d. systematic investigation to establish facts or principles, or to collect information on a subject.
5. research	e. a group of people employed by a company.

2. Use the words from the list of Useful Vocabulary to complete the sentences.

1. We use the term ….. to speak about a system of shared values that distinguish this organization from other ones.

a. corporate culture

b. background

c. status quo

2. ….. are required to follow rules and regulations in this firm.

a. researchers

b. governments

c. employees

3. They have their own interest in maintaining the …...

a. accuracy

b. perception

c. status quo

4. She joined the ….. as an accountant.

a. corporate culture

b. staff

c. research

5. Nothing will change my ….. in a promising future of our company.

a. believe

b. belief

c. perceive

6. Mr. Black has the right ….. for this position.

a. background

b. perception

c. behavior

3. Give the English equivalents to the following expressions.

- система ценностей

- решить проблему

- иметь разное происхождение

- сущность корпоративной культуры

- быть конкурентоспособным

- поддерживать статус-кво

Talking Points

1. Give your arguments for or against the following statements.

1. Corporate culture is especially important for top managers.

2. Corporate culture helps to improve quality management (управление качеством).

3. It’s impossible to change an organization’s culture.

2. Imagine you have got your own company. Describe an effective corporate culture you would like to have in it.

3. Finish the phrase.

- A strong corporate culture helps …...

Summary Points

1. Read the passage and divide it into 3 paragraphs.

Although all organizations have their own cultures, not all cultures have an equal influence on employees. Organizations where the key values are widely shared have strong cultures. The more employees accept the organization’s key values, the stronger the culture is. Employees in firms with strong cultures are more committed to their firms than employees in firms with weak cultures. Moreover, strong cultures are associated with high performance of organizations. Whether an organization’s culture is strong, weak, or somewhere in between, depends on the intensity with which the culture was originated. It is necessary to remember that organizations where the key values are intensely held and widely shared have strong corporate cultures.

2. Choose from the list A-D the sentence which best summarizes each paragraph (1-3) of the passage. There is one extra sentence which you don’t need to use.

A. The main characteristics of strong cultures are: shared key values, employees’ commitment to their firm and high performance of the organization.

B. Any organization has its own corporate culture.

C. The cultures of some organizations encourage employees to take risks.

D. The intensity with which the culture was originated plays the most important role.

3. Summarize the passage, basing on the sentences from Task 2.

Unit 13

EMPLOYMENT

Lead-in

1. In your opinion, which factors below are important for getting a job? Choose the five most important. Is there anything missing from the list?

- age

- appearance

- contacts and connections

- experience

- handwriting

- hobbies

- marital status

- qualifications

- references

- blood group

- personality

2. Share your thoughts with the whole group on the following points.

1. Is employment a social issue or a political one? Explain your choice.

2. Do you believe that obtaining a good job today is easier or more difficult than in your parents’ day? Why?

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