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Exercise 1. Match the words with their corresponding definitions.
share shareholder to raise capital
interest dividend payment market research
debenture debenture holder stock control
dividend interest payment finished goods
profit
a. money that you gain from selling something, or from doing business in a particular period of time, after taking away costs,
b. to collect capital that is needed to do something,
c. one of the parts into which ownership of a company is divided,
d. someone who owns shares in a company,
e. an interest-paying loan which may be traded on bond markets,
f. a person or organization that has lent money to a company in the form of debentures,
g. a part of the profits of a company for a particular period of time that is paid to shareholders for each share that they own,
h. a payment of a part of a company’s profits to its shareholders,
i. a payment that repays interest on a loan, bond etc., rather than paying off any of the original amount,
j. the activities involved in obtaining information about a particular market, including how much of a product is being sold, who is buying it, why they are buying it etc., or information about what they might buy,
k. the process of making sure that supplies of materials, goods being produced, and finished goods are managed correctly,
l. goods have been made completely and are ready to be sold,
m. an amount paid by a borrower to a lender.
Exercise 2. Read and translate the text.
Internal organization and control in business.
As a first step in considering internal organization and control of business it is logical and necessary to understand the component sections or groups of people who are, or who become involved in various ways in the activities ofa business company.
The prime aim of any business company is to make a profit to be used by the Directors in further development and to reward those who have invested capital in the company.
To achieve this aim, however, the Directors must have the participation of the various groups who themselves contribute both outside and within the business. Whilst this contribution of effort and purpose leads to the success of the business, the groups may well have their own reasons or motives irrespective of the business. This important principle is illustrated in Table 1.
| Group | Action | Aim |
| Shareholders | Purchase of shares | Dividends and capital gain |
| Debenture Holders | Purchase of debentures | Interest on investment. Possible profit on sales of debentures. |
| Senior Executives | Professional skill or knowledge | Salary, and progression. Progressive career. Security. |
| Other Employees | Effort and skill | Wages. Security. |
| Suppliers | Equipment, or materials, or services | Profit. Continued business connection. |
| Customers, or Clients | Payment | Satisfactory goods or services |
| Directors | General control of all departments, i.e. ‘direction’ by Directors | Company growth (and personal gain on own shareholding). |
Table 1. Group participation in business.
All the foregoing is a simple exposition of an economic principle, but is set out to show that the ultimate necessity in any business is the final control of the Directors to ensure the fullest participation of all the component groups.
This study is concerned only, at this stage, with the control factor and it will be helpful to the student to consider the range of such control throughout the usual departments of a normal manufacturing concern. This range is summarized below in alogical sequence.
The extent of control over all these departments at director, executive and supervisory level must always be such as to ensure that each department is able to play a full part in the success of the whole enterprise. The strength of any chain is that of its weakest link - thus the strength of the enterprise is the strength of the weakest part. As with the chain, so with the business and any weakness must, therefore, receive prompt and effective attention to ensure the continued strength and progress of the remainder. Control, therefore, is a fundamental necessity in the success of any business.
Exercise 3. Give the definitions to the words in italics.
1. Coca-Cola, Boeing and McDonald’s all reported strong profits in the latest quarter.
2. Hammond Co. will need to raise $2 million to finance the offer.
3. Webb issued 2.5 million new shares of common stock.
4. She is 45% shareholder in the company.
5. Coca-Cola Enterprises issued $750 million of 30-year debentures yielding 8.61%.
6. The next payment to debenture holders is due in February.
7. Consolidated Press forecasts a dividend of 29.8 cents a share.
8. Weak dividend payments may be one indication that profits are in a downtown.
9. The company lacks cash to make interest payments of its junk bonds.
10. Market research showed «good potential» for marketing the aftershave to Hispanic men.
11. He will take responsibility for Laura Ashley’s purchasing, distribution and stock control.
12. Any spare cash is best put in a savings account where it will earn interest.
Exercise 4. Complete the passage using the following words and phases:
subordinate, the shareholders, an organization, the chief executive, the Directors, the Managing Director, the Board of Directors, external side of the business, internal side of the business.
Departments in the organization.
1... of any size must divide its activity in order to specialize and ensure responsibility for various aspects of work. Even a small firm containing two partners will tend to divide in this way, through one partner concentrating upon the production or 2......... and the other occupying himself with selling the product and 3.......
4... are the owners of the company and the elect from among themselves a Chairman and Board of Directors. One of 5... will become the Managing Director, who is 6...... of the Company. That is to say, he takes command of the daily running of the organization, interprets the policy decided by 7...... and translates it into practical effect. Theoretically he is just a director like the others when in the Board Room and has only one vote, but in practice he is a very powerful voice and cares greater weight. Sometimes working directors are appointed to the Board, such as the Accountant or the Marketing man. These are theoretically equal to 8...... in the Boardroom, but of cause are 9... to him in their daily work. The Company Secretary is a legal requirement for a company and he attends the Board Meetings too.
Exercise 5. Match the words and phrases with their corresponding definitions.
1. director
2. managing director
3. board of directors
4. senior executive
5. chief executive
6. supplier
7. subordinate
8. customer
a. the person who has a high position in an organization
b. the group of people who have been elected to manage a company by those holding shares in the company
c. the person on charge of the daily management of the company
d. one of the committee of top managers who control a company
e. someone who has a lower position and less authority than someone in an organization
f. a person or organization that buys goods or services from a shop or company
g. the person who has the highest position in a company or other organization and who makes all important decisions about how it is run
h. a company that provides a particular type of product
Exercise 6. Complete the sentences using the phrases (1-8) from Exercise 5. Change the form of the words where necessary.
1. She is the...... of the one of the company’s largest charities.
2. With California’s orange crop halved, local... have had to find alternative sources.
3. Supervisors are regularly evaluated by their....
4. We try to keep regular... happy.
5. Bank of Boston’s...... will vote on the merger proposal at a meeting today.
6. She is now a...... having worked her way up through the company.
7. All the company’s cheques have to be signed by two....
8. There’s a board of five directors, but she is the.......
Exercise 7. Translate into English.
A. 1. Директор компании должен быть уверен в том, что вся работа будет выполнена вовремя.
2. Генеральный директор отвечает за управление компанией и отчитывается перед советом директоров.
3. Он член правления компании.
4. руководитель высшего ранга может возглавить технологический отдел,
5. Главный исполнительный директор компании принимает на себя ответственность за прибыль и убытки.
6. Эта фирма предоставляет услуги.
7. Эта компания является единственным поставщиком продовольственных товаров.
8. Вы должны делегировать полномочия подчиненным.
9. Всем постоянным покупателям предоставляется 5 – 10% скидки на товары и услуги.
10. Он чудак.
11. Он грубиян (опасный противник).
12. Он Тяжелый (непокладистый) человек.
B. 1. Акция – часть собственности компании. Акции могут принадлежать частным лицам или другим компаниям.
2. Процент – плата, взимаемая за кредит, помимо выплаты заимствованной суммы. Ставка процента является дополнительной оплатой за единицу ссуды и рассчитывается в виде годовой ставки.
3. Облигация – это обеспечиваемый активами облигационный заем компании, как правило, под фиксированную процентную ставку и, иногда, с фиксированным сроком погашения.
4. Дивиденд – выплата компанией дохода акционерам. Доход акционеров получил название «дивиденды» в связи с тем, что компания по закону обязана делить любую подлежащую распределению сумму между акционерами пропорционально количеству принадлежащих им акций.
5. Акционер – лицо или компания, владеющее акциями компании.
6. Высшее руководство компанией находится в руках ее акционеров, которые имеют право менять руководство компании либо путем использования своего права голоса на собрании акционеров, либо путем принятия предложения о поглощении (takeover bid).
7. Прибыль – разница между доходами и расходами компании за определенный период времени. Прибыль за период времени равна разнице между величиной чистых активов на конец и начало периода.
8. Исследование рынка – количественный и качественный анализ одного рынка или совокупности рынков, проводимый с целью изучения потенциального объема рынка, спроса на товары и услуги, конкурентной среды.
9. Управление запасами – регулирование объема товарного запаса компании таким образом, чтобы любые товары можно было поставить без задержки.
10. Готовая продукция – товары, предназначенные для использования конечными потребителями, т.е. собственно потребителями, инвесторами, государством и экспортерами.
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