1. BUSINESS ORGANISATIONS I.

Match the terms on the left with their definitions on the right:

1. private company 2. public company

a. a company owned by another; b. a company which produces and/ or sells water, electricity, gas etc. to the general public; 3.nationalised c. a group of up to 20 people with unlimited liability for a company firms debts; 4. public utility d. a company which owns and runs other companies; 5. partnership e. a limited company with up to 50 shareholders, which is not quoted on the stock exchange; 6. holding/ parent f. a small or medium-sized company; company 7. subsidiary g. a limited company quoted on the stock exchange; 8. SMS h. a company owned by the state. II. Find the English equivalents for the following words in Romanian: direcie, export, funcionari, omolog, situare, muncitor calificat, supraveghetor, rotaia cadrelor. 1)direction aim,hand,guidance,heading,quarter 2)export, export, exportas 3) clerks , clerical people 4) homologous , counterpart5)lay/location , position, location, placement6) skilled worker , qualified worker 7)supervisor ,surveyor, overseer 8) rotation of staff, staff turnover III. Use the following words to complete the company organization chart: a. market research; b. Chief Executive Officer; c. wages and salaries; d. purchasing; e. pensions; f. Human Resources; g. marketing; h. design department; i. accounts; j. Chairman; k. litigation department; i. Production. 1 J , 2 B , 3f , 4L , 5C , 6G , 7K , 8H , 9I , 10A, 11E ,12D 1 Board of Directors 2 3 Training 7 Company administration 11 Finance 5 Budget 9 4 Plant management 8 Research and development 12 Sales and marketing 6 Sales 10

Transport and distribution

IV.

Complete the sentences with an appropriate word from the list below:

behind

of 1. 2. 3. 4. 5. 6. 7.

to

for

with

out

The Sales manager reports to.the Marketing manager. The Chief Executive Officer is responsible for..the running of the company. The Finance Manager is in charge of..the Finance department. A partner is fully liable for.the debts of the partnership. Ill deal withthis problem personally. We are phasing out..the old model, as it is rather old-fashioned. We must do something to increase our market share: we are dropping behind.our competitors.

V. Identify the suitable definitions for the following concepts: 1. communicate C a. a method of checking the performance of an employee by setting the results against the targets; 2. delegate B b. to give someone the duty to act on your behalf, make decisions 3. motivate D c. to convey an idea or feeling to people 4. management by objectives d. give/ offer a stimulus to do something. A 5. limited liability J e. the effective management committee of a limited liability company; 6. sleeping partner G f. any presentation of the accounts of a company showing its financial position at a particular moment; 7. board of directors E g. a person who has capital in a partnership but takes no part in its commercial and managerial activities; 8. financial statement F h. the highest position on a companys board of directors; 9. chairman H i. a person who is the only owner of a business whose manager he also is; 10. sole trader I j. this means that no shareholder of such a type of company can be asked to pay more than the nominal value of his shares or the amount of guarantee if the company goes bankrupt. VI. Fill in the gaps with a suitable word from the list: against behaviour contacts communicate decide delegating implementation long-term management measuring objectives set select suppliers tactical Managers have to identify and 1 set the objectives for their company. They are involved in 2 long-term, strategic planning, as well as in the drawing up of short term, ..3 tactical ..plans. managers must organize the company, .4 decide ..on allocation and use of the companys resources. They .5 select ..and train the staff that should be able to suitably carry out the tasks of the organization. In the ..6 objectives ..of their programme they must command, delegate, motivate and ..7 communicate effectively with all the levels of their company. It has been pointed out that good relations at work, among workers and between workers and ..8 management ..management favourably influence output, the quality of work and motivation. The feeling of belonging to a group has a positive impact on the .9 behaviour ..of employees. Successful managers always involve their staff in performing important tasks, ..10 delegating .them some activities, this leading to improved results of the company. The control activity means ..11 setting..the performance of their staff,

setting obtained results 12 againstobjectives the management by 13 implementated technique is but one example in this respect. Managers also have to establish and make ..14 contacts .. with the outside world, they represent their organization in its relation with customers and 15 suppliers .., government and other parties. VII. Fill in the gaps with a suitable word from the list: audited board borne capital centralized chairman equity exchange extent geared General highly human liability (x2) losses made make officer partnership public (x2) report profits research shareholders sleeping sole statement subordinate unlimited Businesses are organized in different ways. When there is only one owner, the company is called a .1trader. If two or more people associate to form a company they .2up a ..3 . In both sole trader organizations and partnerships, the owners supply the 4and as a rule they assume the management of the organization. In partnerships, only the active partners take part in the management of the company, whereas the .5.partners do not. Both forms of business organizations discussed above have no legal obligation to make periodic .6..of accounts available to the public. The owners in both types of companies under consideration have ..7..liability, that means they are liable to the full extent of their assets for the debts of the company. It is the owners who are entitled to take possession of all the ..8..the company makes and all losses are ..9..by them. On the other hand there are limited .10..companies. Such types of companies are either public or private. The former type involves that the ..11..has not access to the company, the shares are sold to a restricted number of people. Shares are the parts into which the assets of a company are divided. The owners of the company are ..12..and they hold shares in proportion with the capital they invested in the company. Thus there are minority shareholders and majority shareholders. 13., limited companies (abbreviated plc.) are accessible to the public, as they are as a rule quoted on the stock .14 . The management of limited liability companies is entrusted to a .15.of directors elected by the shareholders in the Annual ..16..Meeting (abbreviated AGM). The shareholders are entitled to the profit .17.by the company and therefore receive dividends. As for .18., they are borne by the shareholders, but only to the .19.of the amount invested in the business, as this is the meaning of limited 20.. . The shareholders have the right to receive the annual financial statements of the company, accompanied by an independently -.21..report. The capital of a company consists of shareholders capital (.22.) as well of capital obtained from long-term loan, from banks or other financial institutions. Companies having a high proportion of loan capital are said to be .23.geared. On the other hand, if loan capital represents a low proportion in the capital of business, this is said to be lowly .24. . Companies are organized in a hierarchical or pyramidal structure. The .25.holds the highest position in a board of directors. Sometimes he is the chief executive ..26. (abbreviated CEO). The managing director is next in rank. Senior managers head the different departments of a company such as: marketing, finance, public relations, .27.resources, .28. and development etc. According to some sources, however, works managers and sales managers should be considered members of middle management. The middle management consists of assistant managers who 29..to the senior managers. If someone reports to somebody else, he is the 30..of the latter. Big companies have central offices or headquarters and branches in the country or abroad. If decisions are taken at the headquarters they are said to have a .31.management. If decisions are left to the competence of branch managers they are said to have a decentralized management.