Foundations of business

LESSON #1

FOUNDATIONS OF BUSINESS AND ECONOMICS

PRE-READING ACTIVITIES

VOCABULARY

Make sure you know the Russian equivalents for the following words and expressions

advantage (n) - преимущество

advocate (v) - выступить за

aim (v) - стремиться к (at)

aggregate (n) – совокупность

allocate (v) - распределять

apply (v) – применять

appraise (v) - оценивать

approach (n) - метод

assist (v) – помогать

attainment (n)-достижение

attempt (v) - пытаться

attitude (n) – отношение

available (adj) - имеющийся в наличии

backdrop: against the ~ - на фоне

benefit (v) - извлекать выгоду

boundary (n) – граница

capture (v) - охватывать

cease (v) – прекращать

come of age - появляться c

comparative (adj) - сравнительный

compete (v) – конкурировать

concern (n) - проблема

concern (v) - заниматься

consequence(n) – последствие

consider (v) - считать, рассматривать

constitute (v) - составлять

consumer (n) - потребитель

consumption (n) - потребление

contain (v) - сдерживать

controversial (adj) - спорный, дискуссионный

controversy (n) - дискуссия

cure (v) - лечить

define (v) - определять

demand (n) - спрос

derive (v) - происходить (from)

desire (n) - желание

diminishing return - убывающая доходность

discover (v) – открывать

discovery (n) - открытие

dismal (adj) - мрачный; унылый

dream (v) - мечтать (dreamt)

dub (v) - окрестить, дать прозвище

economize(v) – экономить (on)

emphasize(v)-придавать особое значение; подчеркивать

employment (n) – занятость

end (n) - аспект, сторона

engage in (v) - заниматься

enterprise (n) – предприятии

equitably(adv)-справедливо, беспристрастно

eventually (adv) - в конечном счете, в конце концов; со временем

examine (v) - исследовать, изучать

exchange (n) - обмен

exhaust (v) – исчерпывать

fail (v) - перестать действовать

failure (n) - несостоятельность

fascinating (adj) – очаровательный

finite (adj) - конечный

flawed (adj) - ошибочный

flow (n) - поток

forecasting (n) – прогнозирование

founder (n) – основатель

govern (v) - управлять

hang (v) - быть логичным

heading (n) – рубрика

household(n) -семья,(домашнее) хозяйство

ills (n, pl) - невзгоды, беды

imperfection(n)-несовершенство; недостаток

implication (n) - значение, смысл

income (n) - доход

increasingly (adv) - все больше и больше

increment (n)-рост, прирост

infinite (adj) - бесконечный

Inquiry (n) - исследование

institution (n) - учреждение

interrelate (v) – соотноситься

investigate (v) - исследовать

invisible (adj) – невидимый

laissez-faire (n) – невмешательство

landlord (n) – землевладелец

magnitude (n) – важность

mainstream (n) – основа

mankind (n) - человечество

marginal utility - предельная полезность

market (n) – рынок

mean (v) – означать

neatly (adv) – четко

objective (n) - цель

observe (v) - наблюдать o

offshoot (n) - ответвление

orthodox (v) - ортодоксальный; правоверный; общепринятый

outline (v) - обрисовать, наметить в общих чертах

overcome (v) -победить; преодолеть

overlap (v) - частично совпадать

own (v) – владеть

perceive (v) – ощущать

phenomenon (n) – явление

policy (n) – цель

predict (v) – предсказывать

prejudice (n) - предубеждение, предрассудок

prescription (n) – предписание

primarily (adv) – первоначально

promotion (n) - продвижение; поощрение

prosperity (n) – процветание, преуспевание

range (n) - область, круг

crop (v) - пожинать плоды

reconcile (v) - приводить в соответствие

regard (v) - считать

reject (v) - отвергать, отказывать

relationship (n) - отношение

requisite (n) - то, что необходимо; все

необходимое

restraint (n) - ограничение

reward (n) - награда, вознаграждение.

scarce (adj) - недостаточный

scope (n) - граница, цель

seek (v) - стремиться, искать

self-sustaining (adj) - независимый, самостоятельный

settle down {v) - стабилизироваться

sophisticated (adj) - сложный

striking (adj) - поразительный

subsistence level - прожиточный уровень

succeed in (v) - удаваться

supply (n) - предложение, поставка.

survival (n) - выживание

techniques (n) - методы

trader (n) - торговец, маклер

value (n)-стоимость

virtually (adv) – фактически

wealth (n) - богатство

welfare (n) - благосостояние

wellbeing (n) - благосостояние

whatever (prim) - какой бы то ни было

working (n) - действие; деятельность

writing (n) произведение

FOUNDATIONS OF BUSINESS

Over the years, people have become more and more dependent on others. This course is about understanding mutual dependence, using the business system effectively, and being a part of business. Business is the exchange of goods, services, or money for mutual benefit or profit. Today, the business conducted in and among the United States, Canada, Great Britain, Germany, Japan, and other countries is more complicated than bartering shoes for corn. Years ago, our ancestors discovered that producing everything one needs occasionally requires doing some undesirable work. They also discovered that individuals have various traits, needs, and skills. If a person specialized in a particular job, such as making shoes or growing corn, the surpluses produced could be traded for other desirable goods. This early exchange of goods without using money was called barter. ( The most famous barter in American history was the purchase of Manhattan Island by Dutch traders for a few dollars' worth of colored glass beads.)

People Form the Core of Business

The human element is the core of business. Business needs people as owners, managers, employees, and consumers.

Owners are people who own a business, as well as those who invest money in one, do so because they expect to earn a profit.

The person responsible for operating the business may be the owner (an owner-manager, also called an entrepreneur) or a professional manager employed by the owner. Both types of managers seek to achieve profit, growth, survival, and social responsibility.

The owner-manager sets his or her own objectives, whereas a professional manager attempts to achieve objectives set by others. The professional manager is accountable to the owners of the business, who judge the manager's performance by how well their objectives have been accomplished over a period of time.

Many of these business owners are entrepreneurs, people who take the risks necessary to organize and manage a business and receive the financial profits and nonmonetary rewards.

Employees supply the skills and abilities needed to provide a product or service and to earn a profit. Most employees expect to receive an equitable wage or salary and to be given gradual increases in the amount they are paid for the use of their skills and abilities.

A consumer is a person or business who purchases a good or service for personal or organizational use. Consumers want better cars, better homes, more luxuries, and better leisure equipment. They want to pay a fair price for the goods and services they purchase

BUSINESS OBJECTIVES

Lists of business objectives generally include such factors as survival, profit, growth, and social responsibility.

Survival is an obvious objective. Other objectives can be accomplished only if the business enterprise survives.

Growth is an objective because business does not stand still. Market share increase, personal and individual development, and increased productivity are important growth objectives.

In recent years, meeting social responsibilities has been recognized as an important objective. Businesses, like each person in society, must accept their responsibilities in areas such as pollution control, eliminating discriminatory practices, and energy conservation. Examples of new corporate acceptance of social responsibilities appear almost daily in the media.

Although survival, growth, and social responsibility are important objectives, the profit objective plays the major role in business. Profit, however, means different things to different people because of their values, attitudes, and perceptions.

Business profit Typically, a businessperson calculates profit by subtracting all the costs, including taxes, from the revenue received for selling a product or service in the market. The difference is referred to as business profit. Successful business organizations earn a profit because their goods and services effectively meet customers' needs and demands. Profits reward a business enterprise for effectively conducting a number of activities.

Дата добавления: 2015-10-31