BUSINESS ENGLISH
презентация к уроку (10 класс) на тему

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Sole proprietor

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Complete control over the operations Profits and losses flow directly to the owner Taxed at individual rates Easy to set up

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Unlimited liability Legal identity og the owner and legal identity of the business are not separate Getting out of business means selling the business Limited financial resource Lack of managerial skills and experience Responsible for the personal damages and debt an employee can cause Lack of continuity 22

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Partnership

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Clear potential for the enhancement of value resulting from two or more people combining their strength Easy to set up Fewer regulations than corporations Stronger potential of access to greater amounts of capital Taxed at individual rates

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Unlimited liability Limited continuity High possibility of conflicts between the partners which can lead to dissolving the partnership

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Unlimited commercial life Greater flexibility in raising capital through the sale of stock Easy to transfer ownership by selling stock Limited liability Regulatory restrictions Regulations can be costy High organizational and operational expenses Double taxation

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Vocabulary 1) an entrepreneur 2) to assume the risk 3) a business venture 4) a profit / profitability 5) an obstacle 6) to evolve 7) willing / willingness 8) to enshrine 9) to establish 10) to endeavor 11) multi-skilled 12) deregulation 13) discouraging circumstances 14)to pursue the ideas 15) to perceive needs 16) to chase the result 17) to measure the level of achievement 18) innovative 19) customer 20) competitor 21) income

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Definitions of an entrepreneur: Tick the appropriate definitions. a risk-taking agent that combines the various factors of production into a business; a person that combines the various business resources and takes the risk for that; a person who understands that there is a little difference between obstacle and opportunity and is able to turn both into advantage; A person who organizes, operates and assumes the risk in a business venture in expectation of gaining profit; a person who creates a business in the face of risk and uncertainty; a person with a willingness of taking the risks involved in starting and managing a business

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Answer the following questions: Who is an entrepreneur? Is there any difference between an obstacle and opportunity? Is the person who starts business and who manages it the same? What are the established characteristics of an entrepreneur? Can we equate a manager to an entrepreneur? Who is result-oriented and who is process-oriented? What are the important questions an entrepreneur must ask himself/herself before starting business? Why is it important to identify a customer? What is strategy all about? What is important to know about your competitor? What is the fundamental of entrepreneurship? What are the non-profit issues? What opportunities are the in entrepreneurship? To what risks must an entrepreneur be ready? Is it possible to have a 9-to-5 job for an entrepreneur?

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Do you agree with the following statement? “If you fall down 7 times you must learn to get up 8 times despite the difficulties when you fall, you must learn to get up and believe in what you are doing.”

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Who are you, entrepreneur???

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You should be…… Creative Innovative Multi-skilled Result-oriented Committed to the risk and vision Good organizer of resources and people Self-confident

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Questions to think about before starting…… What kind of business am I getting to? Why am I getting into it? What are my strength and weaknesses? What would be the major obstacles for me? What threats do exist? Who are my customers? Who are my competitors?

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Customers Have the idea about effective demand that customers would be willing Consider willingness and ability of the customers Give the customer something better than they buy now Be sure what they would buy tomorrow Be in trend in the environment

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Competitors Be aware of who provides the same service or products Understand what the competitors are doing now and what they are going to do!!! Find the way to outsmart them Abuse the weaknesses of your competitors Keep in mind you have the same opportunities and the same threats Think what they can do better than you

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Risks Uncertainty of income No comfort of getting a monthly paycheck A risk of losing capital Sociological traumas

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Entrepreneurs sharing the tips Write down the tips and secrets the famous entrepreneurs share with you. Richard Branson’s tips 1) 2) 3) 4) 5) Steve Job’s secrets 1) 2) 3) 4) 5) 6) 7)