Lesson 1. Unit 2. Entrepreneurship

UNIT 2. ENTREPRENEURSHIP

Task 1. Study the following words.

· Businessman [`bıznəsmæn] – комерсант; ділок, ділова людина, бізнесмен; · businesswoman [`bıznəsֽwumən] – бізнес- леді; · businessperson [`bıznəsֽpə:s<sup>ə</sup>n] – комерсант; · entrepreneur[ֽOntrəprə`nə:] / [ֽα:ntrəprə`nə:] –підприємець, ділок, бізнесмен; театр. антрепренер; власник приватного цирку, театру; · freelancer[`fri:lα:n^tsə]/[`fri:læn<sup>t</sup>sə] – позаштатний працівник; вільний художник; · tradesman [`treıdzmən] – торговець, крамар; ремісник; · merchant [`mə:t∫ənt] – купець, торговець; · trader [`treıdə] – трейдер; торговець, крамар (оптовий); біржовий маклер; спекулянт; торговельне судно; · dealer [`di:<sup>ə</sup>lə] / [`di:^əl^ər] – торговець; дилер; торговельний посередник; агент з продажу; · magnate [`mægneıt] – магнат; · tycoon [ֽtaı`ku:n] – промисловий (фінансовий) магнат; сьогун (у Японії); · wheeler-dealer [ֽwi:lə`di:lə] – ділок; воротила; махінатор; пронира; · mogul[`məug^əl]– магнат (зазвичай вживається стосовно власників і керівників перших голлівудських кінокомпаній – кіномагнатів, а також власників видавничих “імперій” – медіамагнатів).

Task 2. Translate into Ukrainian paying special attention to the words in italics.

1. He is a member of the association of small businessmen.

2. Jane works as a freelancer from home.

3. This is a job for a skilled tradesman.

4. China is now one of the largest traders in the world.

5. It is always a good idea to sell through a licensed dealer.

6. The word tycoon entered the English language in the nineteenth century.

7. U.S. President Abraham Lincoln was humorously referred to as the Tycoon by his aides John Nicolay and John Hay.

8. The word mogul originally meant Mongol, or person of Mongolian descent.

9. Many wheeler-dealers have become respectable businessmen.

10. His father was a tea merchant.

Task 3. Match the terms in column A with their definitions in column B paying attention to the underlined words.

A

B

1. Businessman 2. businesswoman 3. businessperson 4. entrepreneur 5. freelancer 6. tradesman 7. merchant 8. trader 9. dealer 10. magnate 11. tycoon 12. wheeler-dealer

a)a businessman or industrialist with great wealth and power; a rich and powerful person who is involved in business or industry; an archaic name for a shogun; b)a man engaged in trade, especially a retail dealer; a person who buys and sells goods, especially on a small scale; a skilled person, especially one who makes or repairs something; c)a person engaged in the purchase and sale of commodities for profit, especially on international markets; trader; (AmE) a business or person who sells goods directly to the public; an old word meaning “someone who buys and sells goods”; d)a person or shop whose business is buying and selling a particular product; someone who sells illegaldrugs, especially on the streets; e)a person who earns money by selling his / her work or services to several different organizations rather than being employed by one particular organization; f)a person who engages in trade; dealer; merchant; a vessel regularly employed in foreign or coastal trade; g)a person who wheels and deals; someone who is skilled at making profitable or successful deals (perhaps, sometimes dishonest) in business or politics; h)a person who works in business, especially at a high level; a person who is skillful in business and financial matters (a gender-neutral form); i)a person, especially a man, engaged in commercial or industrial business, especially as an owner or executive; j)a wealthy and powerful man; a person of power and rank in any sphere, especially in business or industry; a great nobleman; k)a woman engaged in commercial or industrial business, especially as an owner or executive; l)the owner or manager of a business enterprise who, by risk and initiative, attempts to make profits; a person who makes money by starting or running businesses, especially when this involves taking financial risks;

Task 4. a) Study the following words.

· Magnate tends to have more positive associations of strength and power; · tycoon sometimes suggests a dishonest type of person who is likely to lose people’s respect at some point: the disgraced / fallen / discredited media tycoon.

b) In which contexts are the words “ магнат” and “ олігарх” used in the Ukrainian language? Find (make up) sentences that exemplify the usage of the above words.

Task 5. a) Read and translate the passage.

ENTREPRENEUR or SMALL BUSINESS OWNER? Many people use the term “entrepreneur” and “small business owner” synonymously. While they may have much in common, there are significant differences between the entrepreneurial venture and the small business. Entrepreneurial ventures differ from small businesses in these ways: 1. Amount of wealth creation– rather than simply generating an income stream (e.g. regular payments that one receives from an investment or a property, especially over a long period of time) that replaces traditional employment, a successful entrepreneurial venture creates substantial wealth, typically in excess of several million dollars of profit. 2. Speed of wealth creation– while a successful small business can generate several million dollars of profit over a lifetime, entrepreneurial wealth creation often is rapid: for example within 5 years. 3. Risk – the risk of an entrepreneurial venture must be high; otherwise, with the incentive of sure profits many entrepreneurs would be pursuing the idea and the opportunity no longer would exist. 4. Innovation– entrepreneurship often involves substantial innovation beyond what a small business might exhibit. This innovation may be in the product or service itself, or in the business processes used to deliver it.

b) Agree or disagree with the following statements. Correct false statements.

1. There are some insignificant differences between the entrepreneurial venture and the small business.

2. Unlike entrepreneurs small business owners cannot create multimillion profits.

3. Few entrepreneurs can generate several million dollars of profit over a lifetime.

4. There are not sure profits in business.

5. High risk is an indispensable part of entrepreneurship.

6. Entrepreneurs seem to be more innovative than small business owners.

Task 6. a) The words below often occur after “ENTREPRENEURIAL”:

b) Which of the above word-combinations means:

1. підприємницькі ризики;

2. підприємницька здібність (здатність);

3. заповзятлива людина;

4. планування для прийняття стратегічних рішень;

5. дух підприємництва (притаманна індивіду або нації якість, що полягає в прагненні до активної економічної діяльності з метою отримання прибутку);

6. підприємницька культура (набір цінностей, символів та зразків поведінки, характерних для підприємницької діяльності: ініціатива, креативність, конкуренція і т.д.);

7. підприємницька поведінка (поведінка, пов’язана з пошуком нових можливостей: нових продуктів, нових ресурсів, нових технологій і т.д., а також прагненням ефективно використовувати ресурси, необхідні для досягнення поставлених цілей);

8. заповзятливий керівник (знаходить нові можливості й готовий йти на ризик, здійснюючи зміни та запроваджуючи удосконалення на своєму підприємстві)?

c) In which of the word-combinations “entrepreneurial” means:

· підприємницький (такий, що стосується підприємництва);

· заповзятливий; енергійний; практичний; винахідливий (готовий піти на ризик для отримання прибутку)?

d) Use the following word-combinations in the sentences of your own.

1. Entrepreneurial risks; 2. entrepreneurial man; 3. entrepreneurial culture; 4. entrepreneurial spirit; 5. entrepreneurial behaviour; 6. entrepreneurial ability; 7. entrepreneurial man; 8. entrepreneurial planning.

Task 7. Translate into Ukrainian the verbs below which are closely associated with entrepreneurial activities. Use the definitions as clues.

1. Develop 2. pioneer 3. evolve 4. innovate 5. design 6. create 7. invent 8. engineer

– to think of or produce a new idea / product and make it successful; – to be one of the first people to do, discover or use something new; – (rather formal) to develop something gradually, especially from a simple to a more complicated form; – to invent or begin using new ideas, methods, equipment etc.; – to decide how something will look or work, especially by drawing plans or making models; – to cause something new to happen or exist; to make something new or original that did not exist before; – to produce or design something that has not existed before; – to design and build a vehicle, machine or structure.

Task 8. a) Study the following words.

· When you invent something, it is completely new and noting of the kind has existed before: Who invented the motor car? Who designed / engineered the motor car? · You can design or engineer a new version of something that already exists: They’ve designed / engineered a new car. You would not use invent in this context, unless the car really is very new and different: They’ve invented / designed / engineered a revolutionary new car. They’ve invented / designed / engineered a whole new type of car.

b) Explain the usage of the above verbs in the following sentences.

1. Esperanto [ֽespə`ræntəu] / [ֽespə`rα:n t əu] – an international artificial language based on words common to the chief European languages – was invented in 1887. 2. Caesar [`si:zə] Cardini (1896-1956), a Mexican restaurateur [ֽrest ə rə`tə:] invented Caesar salad. 3. Coffee-table book is a book designed to be looked at rather than read. 4. Euro-ad is an advertisement designed to be suitable for all countries in the European Union. 5. This new jet engine is superbly [su`pə:bli] engineered. 6. The car is beautifully engineered and a pleasure to drive.

Task 9. Fill in the blanks with adjective or verb forms. Use your dictionary if necessary.

ADJECTIVE	VERB
1. -----------	to innovate
2. inventive	-----------
3. -----------	to imagine
4. creative	-----------
5. -----------	to originate
6. risky	-----------
7. -----------	to venture

Task 10. Use the correct adjective or verb forms in the sentences. Change the grammatical form of the words if necessary.

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