1
Read the text.
The business plan is probably the most important document that any company can have and yet it is also the least well known or used. All large companies have a business plan which is updated each year but very few small companies have one for a few years. The idea behind a business plan is like having a map before you set out into relatively unknown territory.
When businesses first begin, they are normally run by one person and that person usually understands what he or she is trying to do. Within a very short space of time, however, the business can grow to a size where one person cannot keep all the possibilities and options in his or her own head and cannot fully understand all the possible ways in which the business needs to be controlled. Without a business plan, it is very difficult to succeed in business. These days it is almost impossible to obtain any form of financial assistance from a bank without a fully worked-out business plan.
Usually a business plan starts with an executive summary which gives the main points and conclusions of the plan so that a reader might be given the 'gist' of the business plan very quickly without having to read everything.
Then a description of the company usually comes. It says how the company began, what it is called and what it is in business to do. Many companies find it useful to have a written 'mission statement' so that everyone inside or outside the business knows what it is trying to do. The 'mission statement' is intended to be a realistic statement and not simply a 'wish'.
I. Answer these questions:
1. What is the most important document of a company?
2. Why is it necessary for a company to have a business plan?
3. What does a business plan start with?
4. What does a description of the company says?
5. Is it possible to obtain financial assistance from a bank without a business plan?
II. Choose the correct answer and translate the following sentences:
1. This product on the world market.
a) is being launched
b) launches
c) is launching
2. We acknowledgement of our letters already.
a) will receive
b) are received
c) have received
3. The price list in general conditions of sale.
a) will enclose
b) has enclosed
c) will be enclosed
4. We your payment yet.
a) have not received
b) are not received
c) were not received
5. The chegue to us immediately.
a) has forwarded
b) must be forwarded
c) must forward
III. Choose the correct variant to complete the sentences:
1. All large companies have a business plan which is updated .
a) each year
b) once in a few years
c) each month
1. When businesses first begin, they are normally run .
a) by a group of persons
b) by nobody
c) by one person
2. Without , it is very difficult to succeed in business.
a) money
b) a business plan
c) a manager
3. Usually a business plan starts with .
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a) a section of products and pricing
b) financial data
c) an executive summary
4. An executive summary gives of the plan.
a) the main points
b) financial projections
c) a marketing strategy
IV. Translate the second abstract of the text into Russian.
V. Retell the text in English and give your opinion.
2
Read the text.
An executive summary section of a business plan may also contain descriptions of such things as the company's recruitment policy with respect to the suppliers of services and components. It is also wise, here, to mention the location of the company and to explain why it was located in that particular place and whether it has gained any benefits from it. Location is very important for most businesses.
Then a section of the management comes. Banks and other lenders will need to understand the quality and experience of the management of the company. This section will contain details of the names, ages, experience and qualifications of the management. It is also usual to say why the managers want to work in the company and how they see its future.
Many business plans also contain a section of products and pricing. This section describes the products and services which the company offers. This will normally be very detailed, listing each product or service and saying why the company is producing or offering it, what market it is designed to reach and how successful it has been. It will also say how those products have been priced and how the company intends to increase or decrease the prices over the next few years.
The heart of the business plan is in the Financial Projections section. It provides information on what the company thinks it will have to spend and what it believes it can earn on sales over the period of the business plan, section may contain various calculations, costs, earnings as well as:
- a cash flow analysis for each year;
- an income statement for each year;
- a projected balance sheet for each year;
- some key ratio analysis.
II. Answer these questions:
1. What sections of a business plan are mentioned in the text?
2. Where is the location of the company mentioned?
3. What does a section of products and pricing describe?
4. Where is a cash flow analysis for each year provided?
5. What is the heart of the business plan?
II. Choose the correct answer and translate the following sentences:
1. Business letters by phone or fax.
a) can send
b) can be sent
c) have sent
2. We acknowledgement of our letters already.
a) will receive
b) are received
c) have received
3. A very good exhibition in London now.
a) is being held
b) holds
c) have held
4. Many modern machines at the exhibition yesterday.
a) advertised
b) are advertised
c) were advertised
5. Our prices in the contract.
a) will be quoted
b) will quote
c) have quoted
III. Choose the correct variant to complete the sentences:
1. is very important for most businesses.
a) Suppliers
b) Location
c) Management
2. Banks and other lenders need to understand of the management of the company.
a) the quantity and names
b) the qualification and ages
c) the quality and experience
3. Many business plans also contain a section of .
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a) products and pricing
b) plans and objectives
c) competition and marketing
4. A section of products and pricing says how the company intends to increase or decrease over the next few years.
a) the prices
b) the sales
c) the production
5. The heart of the business plan is in the section.
a) Loan investment
b) Research and Development
c) Financial Projections
IV. Translate the third abstract of the text into Russian.
V. Retell the text in English and give your opinion.
