Lesson 3

Text 1

Anne Elisabeth Jane “Liz” Claiborne (March 31, 1929 — June 26,

2007) is a Belgian-born American fashion designer and entrepreneur.

Claiborne is the co-founder of Liz Claiborne Inc., the first company

founded in 1976 in New York by a woman to make the Fortune 500. The

company designs and markets a wide range of women’s and men’s clothes,

accessories and fragrance products. Liz Claiborne’s clothes for professional

working women are very popular.

Text 2

Sir Richard Branson, CEO of the Virgin Group, is known for success

and customer service. Branson owns over four hundred companies worth

$4.2 billion. Now he is in his sixties. His business ventures range from

airlines, telecommunications, formula one, cosmetics to space exploration

to name just a few. He has a book, “Screw it, Let’s Do It: Lessons in Life

and Business”. In this book Branson shares life experiences that show that

attitude and daring to try when others just accept the status quo is a key to

greatness.

Text 3

Andrei Rogatchev is a pioneer of the Russian retail food chain. He is

50. He is known for his shops such as Pyaterochka and Perekrestok. Now

he has plans to launch a new food chain in Moscow and S. Petersburg. His

ambition is to make it as successful and effective as Pyaterochka. It is

difficult, though, because the conditions in the food market are tough now.

He spends most of the time abroad, in America, where he has a small

chain of food stores for low- and middle- income- group customers.

Lesson 4

Text 1

Entrepreneurs may have a lot of duties. But their main duty is

responsibility. Joshua Hays says that his first and most important

responsibility is to his wife and family — to ensure they have a roof over

their heads, food on the table, and reliable transportation. Apart from

responsibilities to his family he has responsibilities to something that can

greatly affect someone else. It is Tuesday evening now. He has to get to work

and fulfill his responsibility to his employer. He does not have the money

to have his car fixed or the friends who know how to do it. So he must fix it

himself. Joshua Hays says “Put yourself in this position and if you can do

it without your mommy’s support, I promise you’ll earn your right to lead”.

Text 2

There are 4 most important things to remember about your business.

They are vision, passion, creativity and responsibility.

Without a clear vision you can’t possibly hope to accomplish your goals.

Your vision is the map to the company’s future. It is the understanding how

you are going to reach a destination of success.

Passion is significant too. Nick Swinmurn, the founder of Zappos.com,

has an amazing passion for customer service; which is why the company is

so successful today. There is one rule. Your passion must be obvious to your

employees. It must inspire them to set their own passions at the highest

possible standard.

Entrepreneurship is about creation. No matter what market you are in

you always take part in some form of competition. In order to separate

yourself from your competitors you are going to need some creativity. Kevin

Systrom, CEO of Instagram, says it is important to surround yourself with

like-minded individuals who can help enhance your own creativity.

As an entrepreneur you are going to be responsible, i.e. take care of the

entire company. When your business succeeds, you praise your employees;

when your business fails the responsibility rests on your shoulders. As your

business grows, your responsibility is going to grow too.

Text 3

Great business teams win because their most talented members are

willing to sacrifice to make others happy. Great teams consist of employees

who help each other, know their roles, set aside personal goals, and value

team success over everything else.

The role of an entrepreneur is to identify a need or a problem. But

remarkable entrepreneurs go a step farther. In order to understand their

employees’ needs they must put themselves in their shoes.

Remarkable entrepreneurs don’t see money only as a personal reward;

they see money as a way to grow their business. They must reward and

develop employees, give back to the community. In short, their

responsibility is not only to make their own lives better but also to improve

the lives of other people too.

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