ENGLISH FOR BUSINESS
Методические указания и учебные задания
для студентов экономических специальностей
Составитель О. В. Злобина
Рецензенты: И. И. Громовая, Д. С. Исаева
Методические указания и учебные задания составлены на основе
аутентичных материалов профессиональных английских и американских
изданий и предназначены для студентов экономических специальностей.
Цель пособия – научить читать, понимать и переводить оригинальную
литературу, а также обсуждать некоторые основные темы и проблемы в
смоделированных ситуациях профессионального общения.
Подготовлены кафедрой иностранных языков и рекомендованы к из-
данию редакционно-издательским отделом Санкт-Петербургского государст-
венного университета аэрокосмического приборостроения.
Сдано в набор 00. 07. 07. Подписано к печати 05. 12. 07.
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© ГУАП, 2007
LESSON 1
TYPES OF PROPRIETORSHIP
Text
A business may be privately owned in three different forms. These
forms are the sole proprietorship, the partnership and the corporation. The
sole proprietorship is the most common in many western countries. For
example, more than 80 per cent of all businesses in the United States are sole
proprietorships.
But it is evident that sole proprietorships do not do the greatest volume
of business. They account for only 16 percent of all business receipts, for
example, in America. What kind of business is likely to be a sole
proprietorship? First of all, service industries such as Laundromats, beauty
shops, different repair shops, restaurants.
Active Vocabulary
business
to own
sole
proprietorship
partnership
corporation
volume
receipt
service industry
to account for
Laundromat
repair shop
дело
владеть
индивидуальная предпринимательская деятельность,
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частное предприятие
партнерство
корпорация
объем, количество
денежные поступления
сфера обслуживания
составлять, насчитывать
автоматическая прачечная самообслуживания
мастерская
Comprehension Questions
1. What are three different ways that a business can be privately owned?
2. What forms do most European countries have?
3. Name some businesses that are likely to be sole proprietorships. Why do
you think so?
4. Name some businesses that are not likely to be sole proprietorship? Why
do you think so?
Vocabulary Practice
Ex.1. Choose the necessary word and put it in the sentence:
1. Small... are very often service industries.
2. The... industries don't produce material goods.
3. More than 80 per cent of all business … are not
from sole proprietorships.
4. Less than 20 per cent of European businesses are
partnerships or....
5. Sole proprietorships... only a small part of all
business receipts.
6. Is this bank owned publicly or...?
7. There are three... of business ownership.
Dialogue
Jim: Hi, Alice. How are you getting on?
Alice: Fine, as usual, thanks, Jim. What about you?
Jim: I'm O.K. It's nice to see you.
a) receipts
b) businesses
c) service
d) privately
e) account for
f) corporations
g) forms
Alice: You too. I'm glad you are not in a hurry and we have time to talk
today.
Jim: Sure.
Alice: Can you give me a piece of advice?
Jim: Well, I'll try if I can.
Alice: You know I've been always good at cooking. It interests me. I am
thinking of starting my own business - cafe.
Jim: It might be a good idea.
Alice: I guess I must learn about the responsibilities of going into business.
Jim: Are you going into this business by yourself?
Alice: Exactly. I'd like to have a cafe with my name on it where I make the
decisions and where I control the profits.
Jim: You seem to be resolute so I'll try to help you. If you go into business
alone, it is called sole proprietorship. In such case you needn't consult
a lawyer to form the business. You can start or you can stop your
business whenever you like.
Alice: It sounds encouraging. What else can you tell me?
Jim: There is no need to consult partners or a Board of directors. So you can
put your policies into effect quickly. You decide on your vacation,
hours, salary, hiring and firing.
Alice: Well, that's not bad.
Jim: Wait a moment. I believe I have to tell you about the risk involved.
Alice: What do you mean?
Jim: First of all, the most important risk is that you have unlimited liability.
It means that you are responsible for all your business debts.
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Alice: So if the business fails, I have to declare personal bankruptcy, don't I?
Jim: That's what I mean. You can lose your personal assets.
Alice: Well, it's rather disappointing. What other things should I know?
Jim: You won't get tax benefits which partnerships or corporations can get.
Alice: I know about it. By the way do you know of a good accountant to do
my taxes?
Jim: Of course. You'll also have to hire a good book-keeper if you can't do
your books yourself.
Alice: I can't say anything definite about that. I have to think it over. What
else, Jim?
Jim: Well, I am a bit hungry, why don't we have a snack together and
discuss the things in the cafe.
Alice: You are right as usual. Let's go.
Active Vocabulary
piece of advice
to start one’s own
business
responsibility
to make decisions
to control the profits
sole proprietorship
a lawyer
it sounds encouraging
to consult partners
a Board of directors
to put policies into effect
to hire
to fire
to decide on vacation,
hours, salary, hiring and
firing
совет
начать свое дело
ответственность
принимать решения
контролировать прибыль
индивидуальное предпринимательство
юрист
зд. это вдохновляет (звучит вдохновляюще)
консультироваться с партнерами
совет директоров
достичь хороших результатов
нанимать
увольнять
решать вопросы, связанные с отпуском,
продолжительностью рабочего дня,
зарплатой, наймом, увольнением
to have unlimited
liability
to be responsible for all
business debts
to fail
to declare personal
bankruptcy
personal assets
tax benefits
accountant, syn. book-
keeper
to do books
нести неограниченную юридическую
ответственность
нести ответственность за производственные
долги
терпеть неудачу
объявить личное банкротство
личная собственность
льготы по налогообложению
бухгалтер, счетовод
вести бухгалтерский учет
Vocabulary Exercises
Ex.1. Transform the sentences according to the model:
Model: open a cafe - I am thinking of opening a cafe.
1. start a car-repair shop
2. hire a book keeper
3. fire an employee
4. consult a Board of directors
5. sell my business
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6. do my books myself
7. consult a lawyer
8. find a specialist
Ex.2. Transform the sentences according to the model:
Model: A book keeper will do the books.
I am going to have a book keeper do the books.
1. A partner will finance the business.
2. A salesperson will sell the clothes.
3. A decorator will design the interior.
4. A lawyer will do this work.
5. A secretary will mail the letters.
6. A colleague will give me a piece of advice.
7. A book keeper will prepare the tax report.
Ex.3. Answer the questions:
1. Are you thinking of starting your own business?
2. What business do you want to start?
3. How do we call the business if you go into it alone?
4. Who is going to make the decisions and control the profits in your
business?
5. Do you need a lawyer if you want to start a sole proprietorship?
6. Why don't you have to consult the partners in a sole proprietorship?
7. How many employees are you going to hire for your business? In what
cases will you fire them?
8. What does it mean to have unlimited liability? Are you ready for it?
9. What will you do if your business fails?
10. What will you do to put policies into effect quickly?
11. What businesses have tax benefits in this country?
12. Can you do your books yourself?
13. Are you going to hire a book-keeper?
Ex.4. Translate into English:
1. Мне нужен совет.
2. Я сам контролирую прибыль своего предприятия.
З. Если вы хотите заняться частным предпринимательством,
обратитесь к юристу.
4. Директор решает вопросы, связанные с наймом и увольнением.
5. Я боюсь нести полную юридическую ответственность.
6. Я не отвечаю за производственные долги.
7. Малые предприятия имеют льготы по налогообложению.
8. Хороший бухгалтер сможет вести дела лучше, чем вы.
9. Мне нужно нанять бухгалтера.
10. Мне нужно проконсультироваться с юристом.
Ex.5. Make up the dialogue:
You are going to start your own business. Ask a lawyer or an experienced
person how to do it.
Grammar Exercises
Ex.1. Make the sentences negative:
1. I want to start my own business.
2. You need a lawyer in this case.
3. Sole proprietorship brings much profit.
4. Sole proprietorship gets tax benefits from the government.
Ex.2. Put up four questions of different types (general, special,
disjunctive, alternative) to each sentence:
Model: The partners are responsible for business debts.
a) Are the partners responsible for business debts?
b) Why are the partners responsible for business debts?
c) The partners are responsible for the business debts, aren't
they?
d) Are the partners responsible for the business debts or
fulfillment of the arrangement?
1. I want to go into business with my friend.
2. You can lose personal assets.
3. It is difficult to get tax benefits from the state.
4. I do my books myself.
5. We both have unlimited liability.
6. The Board of directors decides on vacation, salary, hiring and firing.
7. The partners want to consult a Board of directors.
LESSON 2
PARTNERSHIPS
Text
A partnership is an association of two or more persons to carry on a
business for profit. When the owners of the partnership have unlimited
liability they are called general partners. If partners have limited liability
they are limited partners. There may be a silent partner as well - a person
who is known to the public as a member of the firm but without authority in
management. The reverse of the silent partner is a secret partner - a person
who takes part in management but who is not known to the public.
Any business may have the form of the partnership, for example, in
such professional fields as medicine, law, accounting, insurance and
stockbrokerage. Limited partnerships are a common form of ownership in
real estate, oil prospecting, quarrying industries, etc.
Partnerships have more advantages than sole proprietorships if one
needs big capital or diversified management. Like sole proprietorship they
are easy to form and often get tax benefits from the government.
Partnerships have certain disadvantages too. One is unlimited liability.
It means that each partner is responsible for all debts and is legally
responsible for the whole business. Another disadvantage is that partners
may disagree with each other.
Active Vocabulary
partnership
association
to carry on a business
profit
general partner
limited partner
silent partner
secret partner
law
insurance
stockbrokerage
real estate
oil prospecting
quarrying industries
advantage
disadvantage
to be legally responsible
товарищество, партнерство
объединение
вести дело
прибыль
общий партнер (несущий полную
юридическую ответственность за дело)
партнер с ограниченной юридической
ответственностью
партнер без права голоса
секретный, негласный партнер (с правом
голоса, но неизвестный общественности
как партнер)
з д. юриспруденция
страхование
биржевое маклерство
недвижимость
добыча нефти
добывающие отрасли
преимущество
недостаток
быть юридически ответственным
Comprehension Questions
1. What is the difference between a general partnership and a limited
partnership?
2. Is there any difference between a silent partner and a secret partner?
What is this difference?
3. In what professional fields are the partnerships found?
4. In what businesses is the partnership a common form?
5. What are the advantages of a partnership? Discuss the disadvantages of a
partnership.
6. Would you prefer partnership or sole proprietorship for business? Give
your reasons.
Vocabulary Practice