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Motivate

Innovate

Destruct

Operate

Inspire

Invent

Create

Define

Apply

a) Theories are essentially meaningless without _____ in the real world.

b) When you start work you must _____ what you have learned at college.

a) A more technical _____ of “business” suggests production, distribution, and sale of goods and services for a profit.

b) The Act _____ “small companies” as firms with fewer than 25 employees.

a) European Economic Area is a free-trade area _____ in 1994.

b) The government is to provide more money for job _____.

a) The best _____ are the simplest and most obvious.

b) Companies are _____ new ways of doing business together.

a) When asked, “What is genius?” Thomas Edison replied, “99 percent perspiration and 1 percent _____.”

b) Be _____!

a) The company is seeking more funds to finance its _____.

b) The regulation _____ in favour of small businesses.

a) The engineers had to _____ the rocket for safety reasons.

b) By doubling its prices, the industry sowed the seeds of its own _____.

a) They have been the leaders in product _____.

b) We must constantly adapt and _____ to ensure success in a growing market.

a) These systems can _____ employees to become more productive.

b) Our real _____ is to make a profit.

a) Thomas Edison displayed a high degree of curiosity and _____.

b) An orphan for many years, Gabrielle Coco Chanel was _____ to invent herself.

Task 18. Some words can be used both as a noun and a verb. Complete the table with the appropriate words from the text “Entrepreneurs and Entrepreneurship” (Task 14).

№	ІМЕННИК	ДІЄСЛОВО	ПЕРЕКЛАД
1.	Ризик	ризикувати; наважуватися, зважуватися (на щось);	-----------
2.	ризикована справа; авантюра; підприємство; сума, якою ризикують; ставка;	ризикувати (чимось), ставити на карту; відважуватися, зважуватися; насмілюватися, посміти;	-----------
3.	монета	карбувати; творити (нові слова);	-----------
4.	вживання; застосування; користування; право користування; мета, призначення; користь, вигода;	вживати, користуватися, застосовувати; споживати, витрачати;	-----------
5.	не(до)стача, брак, відсутність (of); необхідність (of); потреба, бажання; нужда, бідність;	хотіти, бажати; не вистачати, бракувати; вимагати; бути потрібним (необхідним); потребувати, відчувати необхідність;	-----------
6.	сила; дієвість, чинність	прискорювати, пришвидшувати (рух); додавати обертів (машині, мотору); напружувати; примушувати; нав’язувати;	-----------
7.	ринок; базар; торгівля; збут; ринкові ціни; амер. продовольчий магазин;	торгувати; купувати / продавати на ринку; реалізувати, збувати; знаходити ринок збуту;	-----------
8.	зразок; модель; макет; шаблон;	моделювати; створювати; формувати;	-----------
9.	піонер; перший поселенець (дослідник); першовідкривач; ініціатор; новатор;	прокладати шлях, бути піонером; вести, керувати.	-----------

Task 19. Fill in the blanks with the most appropriate terms from the box.

market	inventor	inspiration	application	accomplished
creative	inventions	astounding	perspiration	determination

Students of business can look toward Thomas Edison as a prime example of hard work. The volume of his work – 1,093 patents in 20 different areas – is (1) _____. Among his many (2) _____ were the incandescent light bulb, the phonograph, the alkaline storage battery, and the motion picture.

Edison found ways to use his knowledge in a practical way. His inventions were things that people could use. Edison once said, “An (3) _____ is essentially practical.” He felt that theories were essentially meaningless without (4) _____ in the real world. In the business world he was a realist; he would not (5) _____ a product without a firm belief that people would buy it because it was useful.

Edison displayed a high degree of curiosity and (6) _____. He immersed himself totally in the problem at hand, often working as many hours as necessary to find the solution. When asked, “What is genius?,” he replied, “99 percent (7) _____ and 1 percent inspiration.”

On the other hand, some of Edison’s ideas came about quite by accident while he was involved in other projects. Here the (8) _____ comes into play. Sometimes ideas come to us in a flash when our conscious minds are involved in other activities.

Although we cannot perhaps involve ourselves as totally in the (9) _____ process as Edison did, we can look at his life as an example of what can be (10) _____ due to hard work.

Task 20. Think and answer.

1. Who is considered to be an entrepreneur?

2. What are entrepreneurs motivated by?

3. What is the origin of the word “entrepreneur”?

4. What does the behaviour of the entrepreneur reflect?

5. When was the term “entrepreneur” coined?

6. Can any business owner be called an entrepreneur? Why?

7. What are entrepreneurs in the truest sense of the word?

8. Is entrepreneurship an incredible force?

9. How does entrepreneurship affect markets and industries?

10. What is the essence of entrepreneurship?

11. Does the concept of entrepreneurship have a range of meanings?

12. Can entrepreneurial characteristics be found in a large fraction of the population?

13. How do entrepreneurial activities range in scale?

14. Does entrepreneurship always suggest working solo?

15. What leadership qualities do entrepreneurs generally display?

Task 21. a) Give the nouns which correspond to the following verbs.

1.To manufacture;	4.to broadcast;	7.to produce;	10.to educate;
2.to accomplish;	5.to nominate;	8.to publish;	11.to learn;
3.to appreciate;	6.to dedicate;	9.to imagine;	12.to train.

b) Translate into Ukrainian paying special attention to the words in italics.

1. There are many successful entrepreneurs who didn’t need their college education. 2. While the founder of Mary Kay Inc. didn’t have a college education or any training, she successfully created a brand known throughout the world. 3. To date, nearly half a million women have started Mary Kay businesses, selling cosmetics. Their appreciation for Mary Kay Ash is unwavering (непохитна; непорушна). 4.Simon Cowell is a British music and television producer, who had the idea for some popular television programmes. 5. With $1,000, dedication and desire, Michael Dell dropped out of college at age 19 to start PC’s Limited, later named Dell, Inc. 6. She works in broadcasting. 7. Having dropped out of high school at 16, Walt Disney’s career and accomplishments are astounding. 8. The most influential animator, Disney holds the record for the most awards and nominations. 9. Disney’s imagination included cartoons and theme parks. 10. The Ford Motor Company is a world-known car manufacturer. 11. Michael Dell became the most profitable PC manufacturer in the world. 12. Several publishers are competing in the same market. 13. Gates and his wife are philanthropists, starting The Bill & Melinda Gates Foundation with a focus on global health and learning.

Task 22. Range the following factors according to their importance for achieving entrepreneurial success. Explain your choices.

1. inspiration 2. imagination 3. appreciation 4. formal training 5. a college degree 6. thrill seeking spirit 7. business experience 8. entrepreneurial spirit 9. dedication and desire 10. outrageous business tactics

___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________

most     least

Task 23. Read and translate the following passages.

There are many successful entrepreneurs who didn’t need their college education and became millionaires anyway. Here are fifteen of them, both contemporary and from the past, in alphabetical order.

1. Mary Kay Ash[`me ə ri keı] (1915-2001). The founder of Mary Kay Inc. started a cosmetics business. While she didn’t have a college education or any training, she successfully created a brand known throughout the world. The company uses saleswomen who sell directly to customers, rather than in shops, and successful saleswomen are given pink Cadillacs [`kædılæks]. To date, nearly half a million women have started Mary Kay businesses, selling cosmetics. Their appreciation for Mary Kay Ash is unwavering.

Vocabulary and Cultural Notes:

· Cadillac [`kædılæk] – trademark (informal Caddy) a very expensive and comfortable car. Cadillac vehicles are sold in over 50 countries and territories, but mainly in North America. Founded in 1902 as the Cadillac Automobile Company, it was purchased in 1909 by General Motors and over the next thirty years established itself as America’s premier luxury car. The Cadillac automobile was named after the 17<sup>th</sup>-century French explorer Antonie Laumet de la Mothe, Sieur de Cadillac, who founded Detroit [dı`trOıt] in 1701.

· appreciation [əֽpri:∫i`eı∫^ən] – the feeling you have when you are grateful to someone;

· unwavering [An`weıvərıŋ] – strong and steady despite opposition or other problems;

2. Richard Branson[`rıt∫əd `bræns ə n] (1950-) is a British businessman who started the Virgin [`və:Gın] companies, which include a record company, an airline, a train company, and a financial services company which sells and provides advice about investments. Richard Branson is best known for his thrill seeking spirit and outrageous business tactics. He dropped out at the age of 16 and started his first successful business venture, Student Magazine. Today he is the owner of the Virgin brand and its 360 companies. Branson is seen as different from the typical businessman, because he has got long hair and does not wear a suit. He has also made several attempts to go around the world in a balloon. His official title is Sir Richard Branson.

Vocabulary and Cultural Notes:

· thrill [θrıl] – a sudden feeling of being very excited and pleased;

· outrageous [ֽaut`reıGəs] – very shocking or unreasonable; extremely unusual and likely to shock people or make them laugh;

· to drop out – to leave something such as an activity, school, or competition before you have finished what you intended to do;

· Sir [sə:] – an honorific used as a title and in several other modern contexts. The form Sir is first documented in English in 1297, as title of honour of a knight or baronet. In formal protocol Sir is the correct styling for a knight or a baronet used with (one of) the knight’s given name(s) or full name, but not with the surname alone (e.g. “Sir James Paul McCartney”, “Sir Paul McCartney”, or “Sir Paul”, but never “Sir McCartney”). Richard Charles Nicholas Branson was knighted in 1999 for his “services to entrepreneurship.”

3. Coco Chanel[`kəukəu ∫ə`nel] (1883-1971) is a French fashion designer, who started the fashion company Chanel. Her clothes designs had a great influence on 20^th century fashion, and she is known especially for a simple type of women’s suit and for the little black dress (a woman’s dress with thin shoulder straps made of a black usually silky material and worn to cocktail parties), which she invented. An orphan for many years, Gabrielle Coco Chanel trained as a seamstress. Determined to invent herself, she threw out the ideas that the fashion world deemed feminine, boldly using fabric and styles normally reserved for men. A perfume bearing her name, Chanel No. 5 kept her name famous.

Vocabulary and Cultural Notes:

· little black dress – an evening or cocktail dress, cut simply and often with a short skirt, originally made popular in the 1920s by the fashion designer Coco Chanel. Many refer to it by the abbreviation LBD. The “little black dress” is considered essential to a complete wardrobe by many women and fashion observers, who believe it a “rule of fashion” that every woman should own a simple, elegant black dress;

· orphan [`O:f<sup>ə</sup>n] / [`O:rf^ən] – a person, especially a child, whose parents are both dead; sometimes used of a person who has one parent left alive;

· seamstress [`sem<sup>p</sup>strəs] / [`si:m^pstrəs] – a woman whose job is sewing;

· to throw out (the ideas) – to put forward or offer;

· to deem [di:m] – to consider that someone or something has a particular quality;

· fabric [`fæbrık] – cloth, especially when it is used for making things such as clothes or curtains;

4. Simon Cowell[`saımən `ka u əl] (1959-) is a British music and television producer, who had the idea for the popular television programmes Pop Idol in Britain, and American Idol in the US. He also acted as a judge for these programmes and for World Idol. Simon Cowell started in a mailroom for a music publishing company. He has since become an Artist and Repertoire (A&R) [`repətwα:] executive for Sony BMG in the UK, and a television producer and judge for major television talent contests. He is known for saying cruel things to the people who sing in the competitions, so that he is sometimes called Mr Nasty or Judge Dread. He is also known for saying, “I don’t mean to be rude, but …” just before saying something rude.

Vocabulary and Cultural Notes:

· Pop Idol [pOp `aıdəl] – was a British television series which debuted on ITV on October 5, 2001; the show was a talent contest to decide the best new young pop singer, or “pop idol”, in the United Kingdom, based on viewer voting and participation. A second series was broadcast in 2003. The Idol series has become an international franchise.

· American Idol – (titled American Idol: The Search for a Superstar in the first season) is a reality competition to find new solo musical talent. It debuted on June 11, 2002, and has since become one of the most popular shows on American television. It is a part of the Idol franchise.

· World Idol – was the title of a one-off international version of the television show Pop Idol, featuring winners of the various national Idol shows around the world competing against each other. The performance show was held in the UK on December 25, 2003.

· mailroom [`meı^əlru:m] – the department of a company that deals with sending and receiving mail;

· Artist and Repertoire (A&R) [`α:tıst ə nd `repətwα:] – the division of a record label that is responsible for talent scouting and the artistic development of recording artists. It is responsible for discovering new recording artists and bringing them to the record company. They are expected to understand the current tastes of the market and to be able to find artists that will be commercially successful;

· Sony BMG – Sony BMG Music Entertainment – was a global recorded music company with a roster of artists that included a broad array of both local and international superstars, as well as a vast catalogue that comprised some of the most important recordings in history. Sony BMG Music Entertainment was a 50–50 joint venture between the Sony Corporation of America and Bertelsmann AG. The venture’s successor, the again-active Sony Music Entertainment, is 100% owned by the Sony Corporation of America.

· nasty [`nα:sti] – unkind or offensive; saying or doing unkind things to people;

· dread [dred] – frightening or worrying; annoying or making you embarrassed;

5. Michael Dell [`maık^əl del] (1965-). With $1,000, dedication and desire, Michael Dell dropped out of college at age 19 to start PC’s Limited, later named Dell, Inc. Dell became the most profitable PC manufacturer in the world. In 1996, The Michael and Susan Dell Foundation offered a $50 million grant to the University of Texas at Austin to be used for children’s health and education in the city.

Vocabulary and Cultural Notes:

· PC’s Limited – a company, which was started in 1984 by Michael Dell who had just one thousand dollars in his pocket. From his university dorm room Dell started building and selling personal computers from stock computer parts. In 1988 PC’s Limited had a name change to “Dell Computer Corporation”.

· Michael and Susan Dell Foundation – a foundation established by Michael and Susan Dell in 1999. The foundation initially focused on improving education and children’s health in Central Texas; but their mission soon expanded to reach children globally. To date, the Michael & Susan Dell Foundation has committed more than $530 million to assist non-profit organizations working in major urban communities in the United States and India. Their focus is to directly and measurably transform the lives of children living in urban poverty.

· the University of Texas [`teksəs] – The University of Texas at Austin is a major research university home to more than 50,000 students, 2,900 faculty and 21,000 staff members.

· Austin [`Ostın] – is the capital of the U.S. state of Texas. It is the fourth-largest city in Texas and the 15^th-largest in the United States. Residents of Austin are known as “Austinities” and include a diverse mix of university professors, students, politicians, musicians, state employees, high-tech workers, blue-collar workers, and white-collar workers. The main campus of the University of Texas is located in Austin.

6. Barry Diller [`bæri `dılə]. Fox Broadcasting Company was started by a college dropout, Barry Diller. Diller is now chairman of Expedia, and CEO of IAC/InterActiveCorp which includes Home Shopping Network and Ticketmaster.

Vocabulary and Cultural Notes:

· the Fox Broadcasting Company (commonly referred to as Fox and stylized as FOX) – is an American television network owned by Fox Entertainment Group. Since its launch on October 9, 1986, Fox has grown from an upstart “netlet” to the status of the highest-rated broadcast In the 2007–08 season, Fox became the most popular network in America in general household ratings. In the 2008-09 season, it was placed second place in ratings, behind CBS. The network is named after sister company 20^th Century Fox, and indirectly for producer William Fox, who founded one of the movie studio’s predecessors, Fox Film.

· Expedia [ık`spi:dıə] – is an Internet-based travel agency. It books airline tickets, hotel reservations, car rentals, cruises, vacation packages, and various attractions and services via the World Wide Web and telephone travel agents. Expedia was started by Microsoft, which they then spun off as a multi-billion dollar company because it was “no longer about software intensive technology” and they were “concerned that they would not do their best at this.”

· CEO – Chief Executive Officer; the person with the most authority in a large company.

· IAC/InterActiveCorp – is an internet company with over 35 consumer brands serving consumer audiences across 40 countries. IAC is operated by approximately 3,600 employees.

· Home Shopping Network – is a 24-hour basic cable shopping network that can be seen on cable, satellite, and some terrestrial channels in the United States. The company also operates HSN.com, an e-commerce operation.

· Ticketmaster Entertainment, Inc. – is a ticket sales and distribution company based in West Hollywood, California, USA, with operations in many countries around the world. All US ticket sales for US venues are fulfilled at the Ticketmaster sole fulfilment centre located in Charleston, West Virginia. Typically, Ticketmaster’s clients (arenas, stadiums, and theatres) control their events, and Ticketmaster simply acts as an agent, selling the tickets that the clients make available to them. Ticketmaster sells many of its tickets online, some via phone, and some through its many ticket outlets.

7. Walt Disney[wO:lt `dizni] (1901-1966) is a US film producer who started his own company in the 1920s, and is famous especially for making cartoon films for children, and for inventing some of the best-known cartoon characters, including Mickey Mouse and Donald Duck. His cartoon films include Snow White and the Seven Dwarfs [dwO:fs] and Fantasia. He also made many nature films and adventure films for children. His company continues to make popular films, especially for children. Having dropped out of high school at 16, Walt Disney’s career and accomplishments are astounding. The most influential animator, Disney holds the record for the most awards and nominations. Disney’s imagination included cartoons and theme parks. The Walt Disney Company now has annual revenue of $30 billion.

Vocabulary and Cultural Notes:

· Mickey Mouse – is a comic animal cartoon character who has become an icon for The Walt Disney Company. Mickey Mouse was created in 1928 by Walt Disney and Ub Iwerks and voiced by Walt Disney. The Walt Disney Company celebrates his birth as November 18, 1928. Walt Disney got the inspiration for Mickey Mouse from his old pet mouse he used to have on his farm. “Mortimer Mouse” had been Disney’s original name for the character before his wife, Lillian convinced him to change it, and ultimately Mickey Mouse came to be.

· Donald Duck – is a cartoon character from The Walt Disney Company. Donald’s most famous personality trait is his easily provoked and occasionally explosive temper.

· According to the Disney canon Donald’s full name is Donald Fauntleroy [`fOntlərOı] Duck. Donald’s birthday is officially recognized as June 9, 1934. Donald’s voice, one of the most identifiable voices in all of animation, was performed by voice actor Clarence “Ducky” Nash up to his death in 1985. It was largely this semi-intelligible speech that would cement Donald’s image into audiences’ minds and help fuel both Donald’s and Nash’s rise to stardom.

· astounding [ə`staundıŋ] – extremely surprising or shocking.

· animator [`ænımeıtə] – someone who makes animated films or cartoons.

· annual revenue [`ænju ə l `revənju:] – the money that is received by a business within a period of one year usually from selling goods or services.

· theme park – an outdoor area containing amusements, such as games of skill and big machines to ride on, which are sometimes all based on a single subject (e.g. space travel).

8. Debbi Fields [`debi fi:<sup>ə</sup>ldz]. As a young, 20 year old housewife with no business experience, Debbi Fields started Mrs. Fields Chocolate Chippery. With a recipe [`resəpi] for chocolate chip cookies, this young woman became the most successful cookie company owner. She later renamed, franchised, then sold Mrs. Field’s Cookies.

Vocabulary and Cultural Notes:

· recipe [`resəpi] – a set of instructions for cooking or preparing a particular food;

· franchise [`fræn t ∫aız] – a right that somebody buys from a company that allows them to do particular business activities, such as selling the company’s goods and services in a particular area;

9.Henry Ford [`henri `fO:d] (1863-1947) – a US businessman and engineer. At 16, Henry Ford left home to apprentice as a machinist [mə`∫i:nıst]. He started making cars in 1896. Ford’s first major success, the Model T, allowed Ford to open a large factory. He later started Ford Motor Company to manufacture automobiles. Ford developed the idea of the assembly line (= system in which each worker is responsible for one small part of the process of making something), and this made it possible to produce cars in large numbers. He designed the famous Model T Ford, and became one of the US’s richest and most successful businessmen. He is also known for saying “History is bunk”.

Vocabulary and Cultural Notes:

· to apprentice (as) [ə`prentıs] – to be employed by another person in order to learn a particular type of work; to work for a skilled or qualified person in order to learn a trade or profession;

· machinist [mə`∫i:nıst] –someone whose job is to use a machine; a person who operates machines to cut or process materials;

· Model T Ford (colloquially known as the Tin Lizzie and Flivver) – is an automobile that was produced by Henry Ford’s Ford Motor Company from 1908 through 1927. The Model T set 1908 as the historic year that the automobile came into popular usage. It is generally regarded as the first affordable automobile, the car that “put America on wheels”; some of this was because of Ford’s innovations, including assembly line production instead of individual hand crafting, as well as the concept of paying the workers a wage proportionate to the cost of the car, so that they would provide a ready made market. The first production Model T was built on September 27, 1908, at the Piquette Plant in Detroit.

· the Ford Motor Company –is an American multinational corporation and the world’s fourth largest automaker based on worldwide vehicle sales. Based in Dearborn, Michigan [`mı∫ıg ə n], a suburb of Detroit, the automaker was founded by Henry Ford and incorporated on June 16, 1903. The Ford Motor Company was launched in a converted factory in 1903 with $28,000 in cash from twelve investors, most notably John and Horace Dodge (who would later found their own car company). Henry’s first attempt under his name was the Henry Ford Company on November 3, 1901, which became the Cadillac Motor Company on August 22, 1902. Henry Ford was 40 years old when he founded the Ford Motor Company, which would go on to become one of the world’s largest and most profitable companies, as well as being one to survive the Great Depression. As one of the largest family-controlled companies in the world, the Ford Motor Company has been in continuous family control for over 100 years.

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