Text 1. Organization of the business

Unit 1. Forms of business organization

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

A company may be called an enterprise, especially to emphasize its risk –taking nature. Business varies in size, from the self-employed person working alone, through the small or medium enterprise to the large multinational with activities in several countries.

A large company, especially in the US, is a corporation. In 1970s Britain, there were state-owned or government- owned companies in many different industries such as car manufacturing and air travel. Some industries had been nationalized and were entirely state-owned, such as coal, electricity and telephone services. In 1980s, the government believed that nationalized companies were bureaucratic and inefficient, and many of them were privatized and sold to investors.

Business organization usually begins with the choice of the legal form, which depends on that fact how much partners will take part in it. There are such forms of business organizations as: society with limited liability, closed joint-stock company, uncommercial organizations, and different associations.

Organization of business leads to certain legal relationships of business participants. The form of business organization influence the quality of the participants, change the founders, procedure of punishment and going out of association. For example, business organization of form of society with limited liability allows attracting additional investments such as statues capital.

The most suitable form of business for sale, attraction of new investments and new partners are closed join- stock companies, opened joint-stock companies.

Active vocabulary:

Enterprise - предприятие Self-employed – работать на себя State-owned/ government – owned – находиться во владении у государства Inefficient – не эффективный society with limited liability – общество с ограниченной ответственностью closed joint-stock company– закрытое акционерное общество punishment - наказание

statues capital – уставный капитал corporate culture – корпоративная культура corporate ladder – повышение по службе (карьерный рост) corporate headquarters- руководство компании corporate logo- логотип предприятия corporate image – имидж компании corporate profits – доход предприятия

Task I. Answer the questions:

1. What is business activity?

2. Why business organizations vary in size?

3. What is the difference between state-owned company and privatized one?

4. What does the choice of the business form depend on?

5. What forms of business organization do you know?

6. What are the most suitable forms of business organization for sale and attraction of new investments?

Task II. Correct the mistake using new words and word- combinations from the active vocabulary:

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 ladder.

2. The company has built a grand corporate logo as a permanent symbol of its power.

3. Our stylish new corporate culture shows our wish to be seen as more international airline.

4. The economy is growing and corporate headquarters 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 image.

6. Companies hit by computer crime are not taking about it because they fear the publicity with harm their corporate profits.

Task III. Use expressions below to complete the text:

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