Active Vocabulary
Date: 2015-10-07; view: 488.
TEXT A: FORMS OF BUSINESS ORGANISATION
Ex.6. Make up adjectives from the following nouns as in the model.
Ex.5. Using the following endings, change each of the following words into a verb.
B. Word formation
Ex.4. Practise reading the following words.
Entrepreneurship, independence, liability, vulnerability, proprietorship, decision, restructure, high-calibre, opportunity, distinguish, corporate, bankruptcy, withdrawal, unique, weighty, weightiest, obviously, shareholders, circumstance, pursue.
Model: soft +-en → soften; motive + -ate → motivate; memory + -ize → memorize; note + -ify → notify.
Short, final, dark, intense, industrial, different, person, sweet, just.
Model: noun + - ful/-ous = adjective
e.g. success → successful; danger → dangerous
Care, doubt, duty, event, harm, help, hope, law, peace, power, purpose, skill, thought, truth, use;
advantage, fame, humour, industry, labour, luxury, mystery, religion.
Ex.7. What does prefix co- mean in the following words? Translate them into Ukrainian.
Co-worker, co-owner, co-author, co-operative, cooperation, coexistence, coordination.
| Key terms: entrepreneur, asset(s), liability/liabilities, sole proprietorship, partnership, corporation, investment fund, corporate tax, income tax, bankruptcy, entity, shareholder, board of directors, stock, securities, charter, to incorporate, to place/impose/levy a tax, dividend. Other words and expressions:numerous, achievement, self-fulfilment, to suffer losses, to choose, choice, vision, vulnerability, a number (of), to dissolve, flexible, adaptable (to), to assume responsibility, debts, to raise capital, to share, to distinguish (between), to split up, to contribute (to), relatively, incentive, liable, senior, junior, similar (to), drawback, to affect smth/smb, adversely, separate, apart from, distinct, weighty, to transfer, to do with, subject (to), to disclose, permanent, to prevent (from). Linking words and phrases:in view of, first and foremost, besides, like/unlike, since (=because), at the same time, generally, obviously, to start with, it is a fact that..., in order to do smth. |
Entrepreneurship, as one of the factors of production, has its particular function. It brings together the other three – Land, Capital and Labour. When they are successful, entrepreneurs earn profit. When they are not successful, they suffer losses.
There are numerous reasons why people do business. Financial independence and security, profit potential, desire for achievement and self-fulfilment, the opportunity to work at something they really love are some of these reasons.
When organising a new business, one of the most important decisions to be made is choosing its structure. The choice will be based on the entrepreneur's vision regarding the size and nature of the business, the level of control he or she wishes to have, expected profit of the business, the risks for the business's assets from liabilities, the business's vulnerability to lawsuits and so on. In view of these requirements, different forms of business organisation – sole proprietorships, partnerships and corporations – have their advantages and disadvantages.
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| Ex.3. Read the words in the groups below. Pay attention to the word stress. | | | Sole Proprietorships |