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Task 4. Give derivatives from the following words.

to align, to assign, to own, operate, to departmentalize, centre, to respond, to comply, to define, to determine, liable, to earn, profit, to manage, to relate, to tax, to benefit, debt, limit, to regulate, complex, to permit, to administer, to employ, to oblige, certain

Task 5. Make up compounds and give their Russian equivalents.

1. team- a) line
2. flat- b) edge
3. tax- c) holder
4. product- d) back
5. down- e) leading
6. self- f) product
7. customer- g) work
8. cutting- h) exemt
9. stock i) structured
10. single- j) solving
11. world- k) sides
12. profit- l) employed
13. problem- m) term
14. feed n) wards
15. front- o) based
16. down- p) oriented
17. long- q) driven

Task 6. Complete the following sentences with the words given or their derivatives.

liable employ franchise hierarchy centre share own partner access employ flat

1. A (1)_________ is the relationship existing between two or more persons who join to carry on a trade or business. Each person contributes money, property, labor or skill, and expects to share in the profits and losses of the business.

2. LLC (2)___________ are protected from personal (3)________ for business debts and claims -- a feature known as "limited (4)__________."

3. If you’re a sole trader, you’re running your own business as an individual. This is known as being ‘(5)_________’.

4. Opening a (6)___________ is usually less risky than setting up as an independent retailer. The (7)__________ is adopting a proven business model and selling a well-known product in a new local branch.

5. The main disadvantage of a (8)_________ comes from shared responsibility. Disputes can arise over decisions that have to be made, or about the effort one (9)_______ is putting into the firm compared with another. Like a sole trader, (10)________ have unlimited (11)________.

6. In the eyes of the law, the business and the (12)________ are the same. As a result, the owner is personally (13)_________ for the firm's debts and may have to pay for losses made by the business out of their own pocket.

7. The (14)_________ of a limited company is divided up into equal parts called (15)_______. Whoever owns one or more of these is called a (16)__________ .

8.A tall (17)________ structure would not fit with Capco’s innovative and entrepreneurial culture. Once the project has been completed these (18)_________ move on to another project with a different group of (19)__________.

9. A highly (20)_________, hierarchical structure means an organisation is run from the top. It may have a well-known person at its head who makes most of the decisions. A (21)________ structure is likely to create a much more democratic culture, where everyone’s opinion is valued.



10. In a virtual sense, technology is another means of (22)_________ the organization. The use of computer networks and software designed to facilitate group work within an organization can speed communications and decision making. Even more effective is the use of intranets to make company information readily (23)__________ throughout the organization.

 

TARGET PATTERNS

Text А. 1. Not only will this decision have an impact on how much you pay in taxes, but it will affect the amount of paperwork your business is required to do, the personal liability you face and your ability to raise money. – Данное решение повлияет не только на то, сколько и какие налоги вы будете платить, но и на «бумажную волокиту» (документооборот), которая потребуется для вашего бизнеса, на вашу персональную ответственность за долги и на способность привлекать средства. Not only are corporations subject to corporate income tax at both the federal and state levels, but any earnings distributed to shareholders in the form of dividends are taxed at individual tax rates on their personal income tax returns. – Не только доходы самой корпорации подлежат обложению налогами как на федеральном уровне так и на уровне штата, но и акционеры должны заплатить налоги на свои доходы, которые они получают от корпорации в виде дивидендов.  
      2. If your business is owned and operated by several individuals, you'll want to take a look at structuring your business as a partnership. – Если в результате вашим бизнесом будут обладать и управлять несколько людей, то вы захотите рассмотреть партнерство в качестве формы собственности.   3. The franchisee, for all the training and support McDonald's offers, is running his or her own business. – И все же, несмотря на обучение и поддержку, предоставляемые компанией МакДоналдс, получатель франшизы управляет своим бизнесом сам,  
      Text В. 1. Sometimes the business needs to use people with a variety of skills who are drawn from many parts or functional areas of the business such as marketing, operations, finance and human resources. These can be organized into teams to complete projects. – Иногда бизнесу требуется задействовать людей разного профиля и квалификаций, работающих в разных подразделениях таких как маркетинг, хозяйственное подразделение, финансовый отдел и отдел по работе с персоналом. Их (людей) могут объединять в команды для работы над проектами.
       

 

 

2. Organizational structure is the arrangement of positions and groups of positions within the organization. It is described in such terms as reporting relationships, patterns of interaction, and distribution of responsibilities. – Организационная структура представляет собой схему расположения должностей внутри организации. Она описывает/отражает подотчетность, взаимодействие и распределение обязанностей.

 

  3. Together the dual chain of command and extensive conflict require that employees in a matrix structure be skilled at communication and conflict resolution. – Двойственность, возникающая в результате делегирования прав и ответственности на более низкие уровни организации, наряду с разногласиями между подразделениями требует от работников организации с матричной структурой больших умений в общении и разрешении споров.

 

Text A . Business Structure Basics

Of all the decisions you make when starting a business, probably the most important one relating to taxes is the type of legal structure you select for your company.

Not only will this decision have an impact on how much you pay in taxes, but it will affect the amount of paperwork your business is required to do, the personal liability you face and your ability to raise money.

The most common forms of business are sole proprietorship, partnership, corporation and S corporation. A more recent development to these forms of business is the limited liability company (LLC) and the limited liability partnership (LLP). Because each business form comes with different tax consequences, you will want to make your selection wisely and choose the structure that most closely matches your business's needs.

If you decide to start your business as a sole proprietorship but later decide to take on partners, you can reorganize as a partnership or other entity. If you do this, be sure you notify the IRS as well as your state tax agency.

Sole Proprietorship

The simplest structure is the sole proprietorship, which usually involves just one individual who owns and operates the enterprise. If you intend to work alone, this structure may be the way to go.

With a sole proprietorship, your business earnings are taxed only once, unlike other business structures. Another big plus is that you will have complete control over your business--you make all the decisions.

There are a few disadvantages to consider, however. Selecting the sole proprietorship business structure means you are personally responsible for your company's liabilities. As a result, you are placing your assets at risk, and they could be seized to satisfy a business debt or a legal claim filed against you.

Raising money for a sole proprietorship can also be difficult. Banks and other financing sources may be reluctant to make business loans to sole proprietorships. In most cases, you will have to depend on your financing sources, such as savings, home equity or family loans.

Partnership
If your business is owned and operated by several individuals, you'll want to take a look at structuring your business as a partnership. Partnerships come in two varieties: general partnerships and limited partnerships. In a general partnership, the partners manage the company and assume responsibility for the partnership's debts and other obligations. A limited partnership has both general and limited partners. The general partners own and operate the business and assume liability for the partnership, while the limited partners serve as investors only; they have no control over the company and are not subject to the same liabilities as the general partners.

Unless you expect to have many passive investors, limited partnerships are generally not the best choice for a new business because of all the required filings and administrative complexities. If you have two or more partners who want to be actively involved, a general partnership would be much easier to form.

One of the major advantages of a partnership is the tax treatment it enjoys. A partnership does not pay tax on its income but "passes through" any profits or losses to the individual partners.

Personal liability is a major concern if you use a general partnership to structure your business. Like sole proprietors, general partners are personally liable for the partnership's obligations and debts. Each general partner can act on behalf of the partnership, take out loans and make decisions that will affect and be binding on all the partners (if the partnership agreement permits). Keep in mind that partnerships are also more expensive to establish than sole proprietorships because they require more legal and accounting services.

Corporation
The corporate structure is more complex and expensive than most other business structures. A corporation is an independent legal entity, separate from its owners, and as such, it requires complying with more regulations and tax requirements.

The biggest benefit for a business owner who decides to incorporate is the liability protection he or she receives. A corporation's debt is not considered that of its owners, so if you organize your business as a corporation, you are not putting your personal assets at risk. A corporation also can retain some of its profits without the owner paying tax on them.

Another plus is the ability of a corporation to raise money. A corporation can sell stock, either common or preferred, to raise funds. Corporations also continue indefinitely, even if one of the shareholders dies, sells the shares or becomes disabled. The corporate structure, however, comes with a number of downsides. A major one is higher costs. Corporations are formed under the laws of each state with its own set of regulations. You will probably need the assistance of an attorney to guide you. In addition, because a corporation must follow more complex rules and regulations than a partnership or sole proprietorship, it requires more accounting and tax preparation services.

Another drawback to forming a corporation: Owners of the corporation pay a double tax on the business's earnings. Not only are corporations subject to corporate income tax at both the federal and state levels, but any earnings distributed to shareholders in the form of dividends are taxed at individual tax rates on their personal income tax returns.

One strategy to help soften the blow of double taxation is to pay some money out as salary to you and any other corporate shareholders who work for the company. A corporation is not required to pay tax on earnings paid as reasonable compensation, and it can deduct the payments as a business expense. However, the IRS has limits on what it believes to be reasonable compensation.






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