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Ex. 14. Match the jobs on the left with their more professional-sounding job titles on the right. Then try to make up some job titles of your own.

Ex. 15. Discuss in groups the importance of a job title in providing job satisfaction and answer the question if a better job title is more motivating factor than a pay rise.

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UNIT III. SETTING UP A BUSINESS.

Topics for discussion:

1.Types of businesses.

2.What type of business to choose?

3.How do you rate as an entrepreneur?

4.How to set up a business?

Ex. 1. Read the texts to find out the meaning of the words in bold from the context. What is the difference between business and businesses?

Business and Businesses.

Business is the activity of producing, buying and selling goods and services. A business, company, firm or more formally, a concern, sells goods or services. Large companies considered together are referred to as big business.

A company may be called an enterprise, especially to emphasize its risk-taking nature.

Businesses vary in size, from the self-employed person working alone, through the small or medium enterprise (SME) to the large multinational with activities in several countries.

A large company, especially in the UK, is a corporation. The adjective “corporate” is often used in word-combinations.

Ex. 2. Complete the sentences using the appropriate combinations with the adjective “corporate” given bellow.

1.Before we employ people, we like to put them in job situations to see how they do the work and fit into the corporate ________(1).

2.The company has build a grand corporate _______(2) as a permanent symbol of its power.

3.Our stylish new corporate _______(3) shows our wish to be seen as a more international airline.

4.The economy is growing and corporate _______(4) are rising.

5.The rules were introduced to protect women working in factories, but today they make it harder for women to climb the corporate _______(5).

6.Companies hit by computer crime are not talking about it because they fear the publicity will harm their corporate _______(6).

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Ex. 3. Read the text and explain the meaning of the words in bold. Give their Russian equivalents.

Types of Businesses.

Many large businesses in the UK are public limited companies (plc), which means that the public can buy and sell their shares on the stock exchange. Examples include Marks & Spencer, British Telecom and National Westminster Bank. The minimum share capital for a public limited company is ₤50,000, so many new businesses are likely to take one of the following forms.

Sole Trader or Sole Proprietor (UK)

The simplest way of starting a business. You are self-employed and entirely responsible for all aspects of the management of your business.

Partnership (UK)

Two or more people starting a business together can set up a partnership. All partners are responsible for the debts of the partnership, and profits and losses are shared between them.

There are two categories of partnership: general, in which all partners are liable for the obligations and share in both profits and loses according to the terms of their partnership agreement, and limited, when the partners’ share in the liability is limited to the extent of their contribution to the capital of the business.

Private Limited Company (UK)

A company can be formed with a minimum of two people becoming its shareholders. They must appoint a director and a company secretary. If the company goes out of business, the responsibility of each shareholder is limited to the amount that they have contributed; they have limited liability. Such a company has Ltd (Limited) after its name.

In the US, businesses take the same basic forms. However, American companies are registered or incorporated with the authorities in the state where they have their headquarters. The abbreviations Inc and Corp refer to such companies. To sell shares to the public they must apply to the Securities Exchange Commission.

( Business vocabulary in use)

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Ex. 6. Read the following description and determine which form of ownership you think would be most appropriate. Play out the situation.

Which form to choose?

Julie Anderson wants to start her own business as a financial consultant. As in many service-type businesses, there won’t be a substantial capital investment: Julie already has computer she thinks she’ll need, and she plans to start out working from her home, opening up an office later. Julie anticipates the major start-up costs to be the initial office supplies, some advertising, and the cost associated with a similar she would like to sponsor to introduce her service to prospective clients. Julie likes the idea of being her own boss, and she wants control of the business, but she doesn’t have money to cover these initial expenses. As with most small businesses, it is unlikely that Julie could obtain a bank loan for the money she needs.

I. Which form of ownership would you recommend if you were an expert? II. What are the advantages and disadvantages of your suggestion?

Ex. 7. Complete the passage bellow using the following words. Explain the meaning of the word “entrepreneur”

Andrew Klein, the director of Spring Street Brewing Company, 1 founded his company in 1993 with the idea of bringing a Belgian beer, Wit Beer, to the American market. However, his original approach to finding the necessary capital, by using the Internet, soon made him a pioneer in this new field. He was one of the first to understand the 2_______ of using the Internet as a means to attract investment capital for new business 3________. For just $200 a month, Klein was able to rent a site, present his product and contact investors all over the world. Following in his footsteps, many other 4_______ have been able to finance and promote their business in a similar way.

Today, Wit Beer can be found in several major cities in the US and Andrew Klein

5______ that consumer 6________ for his company’s product will continue to rise.

Indeed Wit Beer already outsells some of more exotic beers which compete in the 7_______.

Ex. 8. Do the questionnaire, then compare your answers with a partner.

How do you rate as an entrepreneur?

Have you got what it takes to run your own business? For each of the following questions, tick the answer which comes closest to what you feel about yourself.