WORKBOOK. Task1. Fill in the gaps in the sentences below using the words from the box

Task1. Fill in the gaps in the sentences below using the words from the box. You can use each word only once.

payment, viable, demand, schedule, supplies, manuscript

 

1. ______________ were brought in by air.

2. Production is still increasing faster than ___________.

3. Unfortunately, parts of the original ___________ have been lost.

4. The committee came forward with one __________ solution.

5. Meg's new book is still well ahead of __________.

6. You can make a __________ in any bank.

 

Task 2. Read the text about the Advantages of forming a corporation. Fill in the gaps in the passage that follows with derivatives of the words in capitals.

 

Advantages of forming a corporation • 1) __ Owners __ have limited liability. A corporation is considered by law as a separate and distinct legal entity. Thus, owners of corporation or shareholders are only indebted to the extent of their interest in the corporation. Corporations have limited liability. This means that their 2) _________ can only run after the assets of the corporation and not the on the personal assets of the stockholders in the 3) __________ of the corporation’s debts or liabilities. • It can exist with 4) __________. The power of succession gives a corporation continuous 5) __________. The shares of ownership or interest of a corporation can be transferred from one owner to another owner. A corporation continues to exist until the shareholders decide to dissolve it or merge with another business. • Shares of ownership are 6) __________. The shares of stock or interest of a publicly traded corporation can be traded easily though a stockbroker. • It attracts more 7) __________. Corporations attract investors because of its stock structure, perpetual existence, ownership transferability, and limited liability. Attracting more investors allows a corporation to raise more capital or equity to manage and expand their operations. • You can be an 8) ___________ of your own corporation. Since the corporation is a distinct entity from its owners or shareholders, they can become the corporation’s employees or officers. Thus, they can receive salaries or 9) __________ income aside from the dividends they may receive from the corporation. • The corporation pays its own tax. As a separate legal entity, a corporation is also a separate taxpayer from it 10) ____________. It has its own Taxpayer Identification Number, and it pays its own taxes, such as corporate income tax, business taxes and withholding taxes. The owners or stockholders pay their own taxes on the compensation and or dividend income they receive from the corporation.

OWN   CREDIT   SETTLE   CONTINUE EXIST   TRANSFER     INVEST   EMPLOY   COMPENSATE   OWN

 

Task 3. Decide which of the motivations below is of greater or lesser importance when you start a business. Number the factors from 1-7 (1 = most important; 7 = least important).

ÿ Having total personal control;

ÿ The freedom of being your own boss;

ÿ The ability to work at home;

ÿ Setting up a business for your children;

ÿ The satisfaction of providing quality goods and services;

ÿ The excitement of taking risks;

ÿ Makin money quickly so that you can sell the business.

Task 4. Think of other factors that can motivate to start a business. Write them down taking into account the degree of their importance. Start from the most important and then list the less important ones.

 

Task 5. Decide whether these statements are true or false?

1. A business executive will feel worried if the company experiences a decline in demand for its products.

2. Marketing and sales staff will promote their products’ unique selling points.

3. A company is likely to feel more secure if it has narrow profit margins.

4. A hike in the price of raw materials is likely to present a difficult challenge for a business that uses those materials.

5. A business CEO is pleased if the company does not meet its quarterly sales targets.

Task 6. Put the verbs in the correct forms using present tenses, paying special attention at the ones used in Passive Voice.

 

Matrix management 1) _______ (to be) a technique of managing an organization through a series of dual-reporting relationships instead of a more traditional linear management structure. In contrast to most other organizational structures, which arrange managers and employees by function or product, matrix management 2) ___________ (combine) functional and product departments in a dual authority system. In its simplest form, a matrix configuration may be known as a cross-functional work team, which brings together individuals who report to different parts of the company in order to complete a particular project or task.

Even when a company 3) _________ (not to label) its structure a matrix system or represent it as such on an organization chart, there may be an implicit matrix structure any time employees 4)________ (to be) grouped into work teams that are headed by someone other than their primary supervisor.

Matrix structures are flatter and more responsive than other types of structures because they permit more efficient exchanges of information. Because people from different departments 5) __________ (to cooperate) so closely, they are eager to share data that will help them achieve common goals. In effect, the entire organization 6) __________ (to become) an information web.

In addition to speed and flexibility, matrix organization may result in a more efficient use of resources than other organic structures.

Despite their many theoretical advantages, matrix management structures 7) _____________ (to be criticised) as having a number of weaknesses. For instance, they 8) __________ (to be) typically expensive to maintain, partly because of more complex reporting requirements. In addition, many workers become disturbed by the lack of a chain of command and a seeming inability to perceive who is in charge.

In general, matrix structures 9) __________ (to be assumed) to be most appropriate for larger corporations that operate in unique or fast-paced environments. Matrix management also works best for organizations that are managed and staffed mostly by professionals or semi-professionals, e.g., engineers and scientists. Matrix management further 10) _____________ (to require) a workforce that has a diverse set of skills and employees that have strong interpersonal abilities.

(The text is borrowed and modified from http://www.referenceforbusiness.com/encyclopedia/Man-Mix/Matrix-Management-and-Structure.html#b: as of 29 December 2011)

 

Task 7. Writing task. You work in a company as a consultant on managing strategies. This company wants to become multinational and it can either attempt to use similar management methods in all their foreign subsidiaries, or adapt their methods to the local culture in each country or continent. Decide which procedure is the most efficient and write a report to your supervisor on this question with your explanations. Use the Internet resources to study the matter before writing the report.