Use of the essential vocabulary. Task 2. Memorise the essential vocabulary to text 1 and translate the sentences containing it: (1) activity(діяльність) – smth

Task 2. Memorise the essential vocabulary to Text 1 and translate the sentences containing it:

(1) activity(діяльність) – smth. that you do because you want to achieve smth. The only positive thing in the case of failure is acquiring valuable experience in this kind of activity.

(2) advertising(рекламування) – the act of making a product or service, a job vacancy, an event etc. publicly known. The process of advertising is an inseparable part of any business. to advertise – рекламувати advertisement – реклама

(3) annual membership(членство в організації, дійсне упродовж року) – a membership which is valid for a year. A cooperativeis an organisation owned by customers who pay an annual membership fee and share in any profits.

(4) to assign duties(призначати обов’язки) – to appoint as a task. Managers assign duties to the employees.

(5) at the expense of smth.(ціною чогось)–achieved by harming the other thing. When you own a business you own all the debts and you should pay them at any rate even at the expense of your accommodation, car etc.

(6) board of directors(рада директорів) – a group of people who supervise a company. Shareholders (owners) elect a board of directors.

(7) to break up(припиняти роботу) – to stop working. This is only you who can choose what to take up and when to break up.

(8) considerable(значний) – large in extent or degree. Though a sole proprietorship is the most famous kind of business to organise, it has a set of considerable disadvantages.

(9) cooperative(кооперативне товариство) – an organisation such as a company or enterprise in which all the people working there own an equal share of it. Cooperatives are a form of business organisation.

(10) co-owner(співвласник) – a person who holds a company as a property with the assistance of smb. else. You may launch a partnership, a legal form of business with two or more co-owners.

(11) counsel(радник, юрист) – a lawyer appointed to advise and represent in legal matters an individual client or a public body. Organising a partnership, one should remember to get a professionalcounsel and to form a partnership agreement.

(12) to cover the costs(покривати витрати) – to cover the expense of smth. You will have to cover the cost of supplies, borrowing, if necessary, advertising, insurance, rent etc.

(13) to deserve(заслуговувати) – to be worth of smth. Entrepreneurs deserve all the credit for taking the risks and providing needed goods and services.

(14) to devastate(розоряти) – to damage smth. completely. When you feel that the stock of fresh and genius ideas for running a business has already been devastated, you find someone to help in restoring it.

(15) to differentiate between(розрізняти) – to recognise a difference. We should differentiate between three main types of business formation.

(16) to diversify(диверсифікувати, вкладати капітал в різні підпри­ємства) – to invest in the securities of different companies in different industries. Diversifying risk could be explained as having the size and resources involved in many businesses at once without being afraid of failure, because it won’t affect the total corporation much.

(17) to do business with(працювати з; займатися спільною комерційною діяльністю) – to become business partners. Imagine you have been lucky to find a partner to do your business with.

(18) ease of management(легкість керування) – the state when the process of management is not difficult to provide. The obvious advantages of this kind of business formation are having more financial resources and ease of management.

(19) failure(провал) – a failing in business, bankruptcy. The only positive thing in the case of failure is acquiring valuable experience in this kind of activity.

(20) fringe benefits(додаткові пільги) – additional services or advantages given with a job besides wages. Being your own boss, you may lose many fringe benefits coming from the work for others, such as health insurance, pensions, vacation pay etc.

(21) to go wrong(провалитись; не вдатися, не вийти) – to stop working properly. You have nobody to consult with or blame, if anything goes wrong.

(22) health insurance(страхування здоров’я) – a means of protection guaranteeing safety of one’s health. Health insurance is one of the fringe benefits coming from the work for others.

(23) incorporation(об’єднання, злиття) – the process of forming a legal corporation. The process of forming a corporation is described as the process of incorporation.

(24) inevitable(неминучий, невідворотний) – incapable of being avoided. Despite the fact that one head is good, but two heads are better, the possibility of conflict is inevitable.

(25) inflexible(негнучкий) – incapable of change. Huge size makes a corporation inflexible to market changes.

(26) initial costs(початкові витрати) – the costs necessary to launch and run a business. A corporation is a very expensive business to organise, so it demands high initial costs.

(27) in turn(своєю чергою) – in proper order. Shareholders (owners) elect a board of directors, directors select managers and those in turn assign duties to the employees.

(28) to invest(інвестувати) – to commit money in order to earn a financial return. The corporation owners are responsible for losses only up to the amount they invest.

(29) joint venture(спільне підприємство) – a business enterprise consisting of two or more companies, usually from different countries, acting in common. A joint venture is one of the latest trends in business, when two or more corporations (usually from different countries) join together to accomplish some objective.

(30) to keep up with(встигати; не відставати) – not to fall behind. Those proprietors who have managed to keep up with the business activity of their organisation are really proud of their work.

(31) to launch(започатковувати) – to start (a business). You may launch a partnership, a legal form of business with two or more co-owners.

(32) to levy taxation(оподатковувати) – to impose or collect (taxes) by legal authority. One of the most important disadvantages is that double taxation is levied on corporations.

(33) liability(відповідальність, зобов’язання) – state of being legally responsible. The corporation owners have limited liability, which means that they are responsible for losses only up to the amount they invest. liabilities –пасиви to be liable to – підпорядковуватись, бути зобов’язаним liable – зобов’язаний; зв’язаний зобовязаннями

(34) limited(обмежений) – restricted, confined to limits. Speaking about financing, we have to differentiate between limited partner and general partner.

(35) to manage to do smth.(бути в змозі щось зробити) – to be able to do smth. She managed not only to launch a business of her own but also run it really successfully.

(36) minutes(протокол) – the official record of the proceedings of a meeting. Running a corporation requires much paperwork, which is minutes of meetings, records etc.

(37) paperwork(робота з документацією) – routine record-keeping work often incidental to a more important task. Much paperwork is involved in running a corporation.

(38) partnership agreement(угода про партнерство) – a contract between potential partners duly executed and legally binding. Organising a partnership, one should remember to get a professional counsel and to form a partnership agreement.

(39) perpetual(вічний) – continuing all the time without changing or stopping. One of the advantages of a corporation is its perpetual life because corporations are usually separate from their owners.

(40) to provide additional funds(вносити додаткові кошти) – to bring spare money to keep up a business. Your partner might be rather helpful in providing additional funds, support and expertise.

(41) retention of profit(збереження, утримання доходу) – preser­ving money earned by a company. The next obvious advantage of a sole proprietorship is retention of profit, which means that all the profit from sales is left to an owner.

(42) retirement funds(пенсійні фонди) – available pecuniary resources aimed at paying pensions. One of the major advantages of a corporation is tax-free fringe benefits, such as retirement funds.

(43) to run a business(керувати бізнесом) – to manage a business. When you feel that the stock of fresh and genius ideas for running a business has already been devastated, you find someone to help in restoring it.

(44) to set wages(встановлювати суму заробітної платні) – to appoint the sum of money for the job performed. To minimise such misunderstandings as who hires employees, buys expensive equipment, sets wages etc., everything must be spelled out in writing.

(45) social security funds(фонди соціального страхування) – available pecuniary resources aimed at social security spending. Corporations have to contribute to social security funds such as social security and unemployment compensation funds.

(46) to spell out in writing(пояснювати детально у письмовому вигляді) – to explain in black and white. All the agreements among partners should be spelled out in writing.

(47) stunning(приголомшливий) – causing astonishment. The stunning thing is that the major advantage of a sole proprietorship, which is being the one and only owner of a business, can simply turn into the major disadvantage.

(48) stockholder(акціонер) – an owner of corporate stock. Stockhol­ders have limited liability, which means that they are responsible for losses only up to the amount they invest.

(49) supplies(ресурси) – the quantity or amount needed. Being a sole proprietor, y ou will have to cover the cost of supplies, borrowing, if necessary, advertising, insurance, rent etc.

(50) to take up(починати справу; братися за щось) – to become interested in a new activity and to spend time doing it; to begin. If you are a sole proprietor, this is only you who can choose what to take up and when to break up.

(51) income tax(прибутковий податок) – money paid for the government spending from the return one gets. A huge advantage is that a sole proprietor does not pay special taxes but the normal income tax on the profit.

(52) tax return(податкова декларація) – a formal statement on a required legal form, showing taxable income, allowable deductions and exemptions and the computation of the tax due. At the end of the fiscal year the company reports about its activity in the form of tax return.

(53) vacation pay(відпускні) – money paid to an employee for the time of vacation. Being your own boss you may lose many fringe benefits coming from the work for others, such as health insurance, pensions, vacation pay etc.

(54) to work for smb.(працювати на когось) – to work for an employer. Sometimes you need good, qualified employees to work for you, but they are not really easy to find.

Task 3. Match each word in section A with its translation in section B:

A. Funds; ownership; incorporated; voting right; duration; advantage; accommodation; to restore; insurance; considerable; partnership; to terminate; an associate; unemployment; misunderstanding; debts; vacation pay; to select; existence; in turn; to organise; objectives; to involve; minutes; tension; investments.

B. Страхування; відновлювати; фонди; знищувати; житло; напруга; інвестиції; борги; власність; непорозуміння; товариство; безробіття; тривалість; перевага; завдання; залучати; в свою чергу; працівник; право голосу; організовувати; вибирати; значний; об’єднаний; відпускні; існування; протокол.

Task 4. Match each word in section A with the one of the similar meaning in section B:

A. To accomplish; liable; to assign; duration; failure; to hire; to levy; paperwork; to share; purpose; director; to require.

B. To distribute, dispense duties; to employ, enlist, contract with; legally responsible; documentation; to tax, impose (taxes); objective, goal, target, ambition; to achieve, complete, perform; to demand, invoke; controller, executive, chief; to divide, distribute; persistency, lastingness; bankruptcy, collapse.

Task 5. Match each word in section A with the one of the opposite meaning in section B:

A. Incorporation; initial; to provide; retention; in writing; to take up; considerable.

B. To quit, give up; aurally; disintegration; to deprive of; insignificant, unimportant; expense, outlay; final, ultimate.

Task 6. Match each word in section A with its definition in section B:

A. Corporation; to levy taxes; counsel; joint venture; limited partner; fringe benefits; unlimited liability.

B. Additional benefits; a lawyer appointed to advise in legal matters; the one without any liability for losses; to impose taxes by legal authority; an agreement of several corporations to join; state-chartered legal organisation; the state, when owners’ personal assets are vulnerable to claims against the business.

Task 7. Rearrange the following jumbled words into sentences:

1. There is no better way, about business, to learn, than to start one. 2. A non-profit organisation, goods and services, provides, to the economic system. 3. A sole proprietorship, the most common kind of, has become, business formation. 4. A sole proprietorship, as an organisation, that is owned and managed, is described, by one person. 5. A huge advantage is, special taxes, that a sole proprietor does not pay, but the normal income tax on the profit. 6. Organising a partnership, to get a professional counsel, one should remember, and to form a partnership agreement. 7. Speaking about financing, between limited partner, we have to differentiate, and general partner. 8. Well chosen partners, through providing additional skills, your day-to-day activity, may ease, and giving more free time. 9. To minimise misunderstandings, everything must be spelled out, buys expensive equipment, sets wages etc., such as who hires employees, in writing. 10. The process, is described as, of forming a corporation, the process of incorporation.

Task 8. Memorise the essential vocabulary to Text 2 and translate the sentences containing it:

(1) to affect(впливати) – to do smth. that produces an effect or change in smth. The process of decision-making is affected by such factors as physical surroundings, reference groups, psychological influences etc.

(2) brand(марка, якість) – a class of goods identified by name as the product of a single firm or a manufacturer. The marketing mix stands for the strategic combination of product decisions with decisions on other marketing activities such as pricing, branding, servicing etc. branding – присвоєння торгової марки товару

(3) to broaden(розширювати) – to make wider. When the marketers try to broaden the situation, in which a product can be used, we may speak about situation segmentation. broad – широкий

(4) composition of a market(структура ринку) – the arrangement of a market. There are several ways of eliminating some of the risks and among them – employment of forecasting technique to predict changes in the composition of the market to help the firm plan the change.

(5) consumer(споживач) – one that utilises economic goods and services. The task of marketers depends upon the needs of their consumers.

(6) decline (занепад) – a change to a lower state or level. Product life-cycle includes introduction, growth, maturity and decline of a product.

(7) to distribute(поширювати, розповсюджувати, розподіляти) – to divide among several or many, to assign (duties). To make your staff work more efficiently try to distribute complicated tasks among the employees. distribution – розповсюдження, розподіл

(8) effective(результативний, чинний, ефективний) – successful, actual, operative and working in the way that was intended. It’s easier to make effective marketing decisions, possessing the information about the stage a product takes in its life-cycle.

(9) finished good(кінцевий продукт) – a ready-made product. Before finished goods can be sold they must be selected and purchased.

(10) to forecast(передбачати, прогнозувати) – to predict or calculate as a result of study or analysis of available data. Having studied the present situation in the market one may forecast potential sales. forecasting technique – методика прогнозування

(11) key concept(ключове поняття) – fundamental concept. One of the key concepts of marketing is a product life-cycle.

(12) luxury(розкіш, предмет розкоші) – smth. adding to pleasure or comfort but not absolutely necessary. Benefit segmen­tation divides the market according to such benefits as comfort, luxury, health etc.

(13) marketer(маркетолог) – one that deals in the market, promotes and sells a product or service. The task of marketers depends upon the needs of their consumers.

(14) marketing strategy (ринкова стратегія) – the way to deal in the market. Each firm must work out its marketing strategy.

(15) marketplace (ринок) – the world of trade or economic activity. Not less important is the price which becomes more and more competitive in today’s marketplace.

(16) potential sales(потенційний продаж) – sales existing in possibility. Business people should collect information about the market to forecast potential sales.

(17) to predict(передбачати) – foretell on the basis of observation, experience or scientific reason. The steps taken to predict and limit the risks of possible losses in a business fall into the category of managing and taking risks. predictable – передбачуваний

(18) to promote(сприяти розвитку) – to contribute to the growth or prosperity of. To be promoted the goods should be advertised. promotion – сприяння, підтримка, підвищення a promoter – промоутер

(19) publicity(гласність, реклама, оприлюднення) – the act to attract public interest. Promotion includes advertising, personal selling, public relations and publicity. publicity literature – рекламна література

(20) public relations (PR)(зв’язки з громадськістю)–communication designed to correct wrong impressions, maintain the goodwill of theorganisation’s publicity and explain the organisation’s goals and purposes. The sphere of public relations is very important in business.

(21) to reduce(зменшувати) – to diminish in size, amount, extent or number. The main aim of marketing is to make money (profit) by producing and selling goods and services and to reduce the risks in selling them. reduction – зменшення, скорочення

(22) retailer(роздрібний торговець) – a marketer who sells goods in small quantities directly to a consumer. The major institutions involved in distribution are wholesalers and retailers. retail – роздрібний продаж at retail – вроздріб

(23) to satisfy(задовольняти) – to meet an obligation, a want, to be good enough for a particular purpose, standard etc. The main aim of marketing is to detect a want of a customer and satisfy it. satisfaction – задоволення

(24) to ship(перевозити, транспортувати) – to put in place for use, to transport. The goods are shipped to their destination point. shipping – перевезення

(25) to trade(торгувати) – to buy and sell or barter commodities. Selling and buying represents trading – the heart of marketing. trading – торгівля, трейдинг

(26) uniform specification(уніфікована специфікація; детальна технічна характеристика) – a detailed description of a product, process or job. Standardising and grading, the next marketing function, establishes uniform specifications for a product or service and classifies products by quality and size.

(27) wholesaler(гуртовий торговець) – a person or an organisation, that buys large quantities of goods from manufacturers and sells them to retailers who sell directly to the public. The major institutions involved in distribution are wholesalers and retailers. wholesaling – гуртова торгівля

Task 9. Match each word in section A with its translation in section B:

A. Forecast; consumption; to eliminate; to assist; research; definition; to stand for; primary data; report; implementation; to possess; trademark; purchase; public; efficiency; luxurious; market; to store; to manage; to take risks; satisfied; separate; segmentation; regardless; requirement; stage; distributor; to suggest.

B. Окремий; споживання; знищувати; означати; дистриб’ютор; допомагати; дослідження; зберігати; ефективність; розкішний; розподіл; володіти; звіт; незважаючи на; рівень; торгова марка; вимога; керувати; громадський; покупка; ринок; первинні дані; визначення; ризикувати; задоволений; втілення; прогноз; пропонувати.

Task 10. Match each word in section A with the one of the similar meaning in section B:

A. To ship; tendency; weakness; to redefine; maturity; to employ; strategy; assistance; promotion; to purchase; decline; luxury.

B. Completion, developed state; to acquire by paying money; inclination, aspiration; to revalue, reconsider; decrease, downturn; splendour, lavishness; to transport; cowardliness, powerlessness; to hire, sign up, enlist; support, collaboration; approach, a plan of action; upgrading, aid.

Task 11. Match each word in section A with the one of the opposite meaning in section B:

A. To employ; weakness; luxury; competitor; to reduce; maturity; to broaden.

B. To sack, to fire; ally; strength; to narrow; under-development; poverty; to increase.

Task 12. Match each word in section A with its definition in section B:

A. Competitive; publicity; marketer; consumer; to predict; marketing; forecast; promoter; brand.

B. To foretell on the basis of observation; a class of goods identified by name; based on competition; the process of predicting; one dealing in the market; information given out to attract public attention; one that supports; one that uses economic goods; the process of studying wants and satisfying those wants by exchanging goods and services.

Task 13. Rearrange the following jumbled words into sentences:

1. Marketing is seen, of finding and stimulating buyers, as the task, for the firms output. 2. Marketing involves, communication, and conti­nuous attention, product development, pricing, distribution, to the changing needs of customers and the development of new products. 3. Marketing, is always discussed, as a business activity. 4. The main aim of marketing, goods and services, and to reduce, by producing and selling, is to make money, the risks in selling them. 5. Many businesses, of marketing manager, to plan and execute, created the position, whose duty is, the conception of product. 6. In the modern competitive world, the design of a product, should appeal to, a consumer. 7. Promotional program, listening provides, about the wants and needs, must be easy because, an organisation with the information, of a customer. 8. Promotion includes, public relations, publicity, advertising, personal selling, sales promotion, and a manager’s own mouth word. 9. The major institutions, are whole­salers, involved in distribution, and retailers. 10. Marketing manage­ment, evaluating market opportunities, selecting markets, developing marketing strategies, planning market tactics, consists of, and cont­rolling marketing results.