UNIT 1
What is business?
Business is based on common sense. People concentrate on doing certain things that they are good at. Then they exchange their work for money which can in its turn be exchanged for the goods and services which they require. This is much more efficient than if each person worked purely to satisfy his or her own needs. There are many different types of business in the modern world. They range from very small ones to enormous multinational companies.
Every business either provides a service, produces goods or buys and sells goods and services for a profit (this is called trading). Many are involved in all these activities. The following are the main areas of business going on around you every day.
Which of the business activities each business entails? Financial services: banking and insurance. Retail trade business shops which sell goods. The hotel and catering businesses. Communication business: telephone, mail and courier services. Transportation businesses which move materials, products and people from place to place by road, rail, sea and air. Public services: police, fire brigades, armed forces and local and central governments.
Business is not an easy thing. It's rather a difficult kind of human activity. It has many important elements such as money, taxes, customers, transport, banks and others. There are two general types of business: small business and big business.
Why do people do business? Why do they like small business? People do business by producing goods or providing services. They buy and sell goods. They do business for a profit. There is no business without a profit. Production of goods is very profitable; provision of different services is profitable too. Communications are a good business too, for example, telephone, telegraph and mail services. Financial services, for example, banking and insurance, work very well, too.
So, people do different types of business for a profit. Doing business has become very popular everywhere. For example, the whole families in America run small businesses now. At present it is very popular to be a businessman or a businesswoman. It should be noted that women, like men, successfully run a firm or a company, they prove to be good bank managers or shop keepers. Briefly speaking, doing business is a comparatively new and perspective tendency in modern life.
There are three main types of business: a sole trader (you alone have responsibility for the business and you take all profits after paying income tax on them); a partnership (a group of between two or twenty people trading as one firm, and share responsibility for debts, decision-making and the profits); a limited company /Ltd. (a company formed by two or more shareholders who put money into the business in return for a share of the profits).
Vocabulary
to be based on common sense
to be good at ,
to require
to satisfy needs
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to range from to ;
to provide services
to produce goods
to buy goods
to sell goods
trading ;
to be involved in business activities
banking
insurance
retail trade
catering
public services
fire brigades
armed forces
to do business , ,
profitable , , ,
to run a firm
sole trader
income tax
to trade ,
to share responsibility for debts
to make a decision
limited company
to put money into the business
in return for
I. Give Russian equivalents to the following word combinations:
to be good at; to require; to buy and to sell goods; trading; to be involved in all these activities; banking; insurance; retail trade; catering; to do business; profitable; to put money into the business; in return for a share of the profits.
II. Give English equivalents to the following word combinations:
; ; ; ; ; ; ; ; ; ; .
III. Answer the following questions.
1. What is a small business? Give examples. 2. What services do you know? 3. Is business an easy or a difficult kind of human activity? 4. What types of business do you know? 5. Why do people like small business? 6. For what purpose do people do business? 7. What business do you think is good? 8. Are production of goods and provision of services profitable? 9. Has doing business become very popular everywhere nowadays? 10. Is doing business a new and perspective tendency in modern life? 11. Do you prefer to work as a sole trader, a partnership or a limited company? Why?
UNIT 2
Text 1
My business
Whenever a man sets up a business it is because he feels he can produce some useful commodity or service which will be needed by his fellow citizens. In return he expects to be able to earn a profit on his business. To conduct his affairs efficiently and profitably the businessman must have some knowledge of accounting. Potential bussinemen are supposed to know terms such as: profit and loss, cash flow and balance sheets, assets and liabilities and others.
Not long ago I decided to set up a small business. As I had no experience in business activities it was difficult for me to choose an appropriate business. So I went to the lawyer's for consultation. After clarifying all the details of my project and my financial possibilities he recommended me to set up a small business in the field of services. According to the lawyer anyone who wants to set up a small business is to make sure that he or she is choosing one which will work and yield a big profit. This requires a thorough investigation into the customers' needs. So, the first step I had to take was to study my future customers' needs and wants.
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I knew there were many car owners in my neighbourhood. Why not open a car service station? said I to myself, and got down to business. One of the difficulties I was faced with was lack of money, and I had to borrow it from the bank. The next day I made a loan of 2 mln. pounds, and I was "on the seventh heaven" because now I could put my project into practice.
Now, at the prime of my business life I still remember my lawyer's words; when choosing a business weigh all pros and cons and ask yourself the questions: what kind of customers am I going to serve upon? How many potential customers are there in my district? How shall I attract customers? What products or services shall I offer?
Vocabulary
to set up a business
to produce useful commodity or service
to be able to earn a profit
to conduct affairs efficiently and profitably
cash flow
balance sheet
assets and liabilities
lawyer ;
to clarify , ( -)
to make sure ;
to yield a profit ,
to require a thorough investigation into
to study customers' needs and wants
to get down to business
to be faced with smth. -
lack of money
to borrow money from the bank
to make a loan
in the prime of
to weigh all pros and cons "" ""
potential customer ,
to attract customers
I. Give Russian equivalents to the following word combinations:
to produce useful commodity or service; profit and loss; assets and liabilities; to have no experience in business activities; lawyer; to clarify all the details; financial possibilities; to make sure; to yield a profit; to be faced with smth; to borrow money from the bank; in the prime of; potential customer.
II. Give English equivalents to the following word combinations:
; ; ; ; ; ; ; ; ; ; "" ""; .
