Exercise 11 a) Put the types of business organisation into the correct box to complete the table

one person provides all capital, sets up and runs the company	owned by two or more people who contribute capital	a registered company with restricted share transfer	a registered company whose shares can be bought and sold on the Stock Exchange
unlimited liability the personal assets of the owner(s) can be taken to pay any business debts	limited liability liability for business debts is limited to the amount of the capital subscribed

B) Make a report on the forms of business organization. Compare them in terms of their assets, forms of raising capital, liability, strengths and weaknesses, their role and place in economies. Support your story with your own examples.

Exercise 12 Make ten common business expressions with the words below, e.g. sleeping partner, annual general meeting. Use some words more than once. Make sentences with them.

annual ▪ company ▪ exchange ▪ meeting ▪ unlimited ▪ general ▪ debts liability ▪ partner ▪ business ▪ directors ▪ limited ▪ personal ▪ private sleeping ▪ sole ▪ stock ▪ trader ▪ board ▪ assets ▪ public ▪ of

Exercise 13 Passive Infinitives. Infinitives can be used to describe things or people. Fill in infinitives in these sentences, using their passive forms.

e.g. The letter to be signed is on the table. – Лист, що потрібно підписати, лежить на столі.

Mr Smith is the owner of the company to be formed in our town. – Містер Сміт – власник компанії, яка буде створена в нашому місті.

1 The new business (to start) will be in the form of a limited company. 2. The part of the goods’ price (to pay) to the government is called taxes. 3. The board of directors (to elect) by our firm includes experienced managers and a well-known market expert. 4. The number of shares (to sell) to public was decided on at the General Meeting of the stockholders. 5. The amount of capital (to raise) will soon be estimated. 6. The manager studied a draft of the Contract (to make) with the foreign company. 7. The corporation charter (to discuss) states the objective of the future business. 8. Our company’s representatives made a request about the goods (to produce) by the Manufacturer.
9. The different types of business organization (to find) in the UK may be classified under five headings.

Exercise 14 Write a short summary, explaining which company you would prefer to work for in the future. Give several reasons and counter-arguments. For example:

In a public limited company (corporation) you can …. Furthermore, big companies allow you to …, because of …. Consequently, you can …. On the other hand, it is true that if you work for a small company (sole proprietorship), you can …. Nevertheless, I prefer big companies because …, even though … can be a disadvantage.

Words to Remember:

Advertising Department – відділ реклами

be in charge of – відповідати за

be in overall control – повністю контролювати

be responsible for – бути відповідальним за

chain of command – ланцюг інстанцій; ієрархія рівнів управління, що утворюється шляхом делегування повноважень та відповідальностей

Chief Executive – голова фiрми, виконуючий директор

Chairman of the Board – голова правління ради директорів

Chief Accountant – головний бухгалтер

colleagues – колеги

department (division) – відділ

Executive – керівник, адміністратор

freelance – позаштатний співробітник, що працює без контракту (вільний художник)

Legal Department – юридичний відділ

Logistics Department – транспортний відділ

make decisions – приймати рішення

Managing Director – керуючий директор

Personnel (Human Resources) Department – відділ кадрів

Production Department – виробничий відділ

Public Relations Department –управління громадських зв'язків

report to – доповідати, звітувати

Research and Development Department – відділ прогнозування і розвитку

Sales Department – відділ торгівлі і реалізації

sales representative – торгівельний представник

staff (personnel) – персонал, штат

stock-holding company – акціонерне товариство

subordinate – підлеглий

superior (supervisor) – керівник, начальник

supervise – керувати, спостерігати

workforce – робоча сила, трудові ресурси

Exercise 15 Easily confused words: personal / personnel.

Which of these words means ‘belonging to a particular person’? Which means ‘people employed in a company’? How are they pronounced? Fill in the blanks with either personal or personnel.

1. Does your Managing Director have a … assistant? 2. Does your company have a … Department or a Human Resources Division? 3. We weren’t able to offer the new service because we hadn’t got enough trained …. 4. Do you agree that you shouldn’t mix your … and professional life?

Text B