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There are many types of business organization and the different terms can be confusing. Match the various types of organization with their definitions.
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| 1. corporation (US) | a) an organization to relieve poverty, advance religion or education, etc; benefits from some financial concessions |
| 2. government agency | b) an organization operating to make a profit |
| 3. cooperative | c) a democratic firm owned by its workers |
| 4. limited company | d) a new commercial activity. Also income company names, for example, Smiths’ Enterprises |
| 5. charity | e) an organization which is part of the state administration |
| 6. minority interest | f) a firm, usually without commercial activity, created to be parent to other companies |
| 7. enterprises | g) a firm where shareholders liability is limited |
| 8. subsidiary (affiliate) | h) company is which another firm has less than 50% interests |
| 9. private company | i) an organization operating in several countries |
| 10. multinational company (UK) | j) company owned by the state |
| 11. parent company | k) a firm based in a tax haven to avoid higher taxation |
| 12. nationalized company | l) a company which owns another |
| 13. holding company | m) two or more partners working together for profit, without limited liability |
| 14. society | n) a company whose shares are not publicly available |
| 15. offshore company | o) a company whose shares are publicly available |
| 16. partnership | p) a friendly association of people; for example, a sports society (society=firm) |
| 17. public company | q) firm owned by a parent company |
VII. Choose the best word from the brackets to fill the gap and translate sentences into Russian.
1.The Ford Motor Company was ____________ in 1903. (find/found/founded)
2. There were 2, 700 business ______________ in the UK in the last quarter. (start – ups/ get - ups/starts – offs)
3. Sir Richard Branson is one of Britain’s _____________of industry. (bosses/captains/moguls)
4. Rupert Murdoch is a media ___________ who owns many newspaper and TV companies. (leader/magnate/founder)
5. That’s Angelina Carlito. She’s very successful _____________________. (businessman/businesswoman/business people)
6. My mother started with one shop and now she heads up a huge business _____________. (empire/country/world)
VIII. The diagram below shows the management structure of Universal Software. Match the people (1-8) with their positions. Write the letter of your chosen answer in the box on the right.
| A Chairperson |
| B Non-Executive Directors |
| C Director of Finance |
| D IT Director |
| E Marketing Director |
| F Human Resources Director |
| G Director of Research |
| H Account Manager |
| J Sales Manager |
| K Customer Services Manager |
| I Production Manager |
1. I’m Marco Alatri and I’m the director responsible for the company budgets and accounts.
2. I’m Tom Scott. I’m not actually a manager at Universal, but I do sit on the board.
3. My name is Helen Good. I’m the CEO and I also chair the board.
4. My name’s Carla Jelinek. I’m in charge of the company’s information systems.
5. I’m Dan Matthews. My team develops new products and tests them.
6. I’m Karine and my team deals with calls from the public… and complaints!
7. My name is Patrick Aubaile and I report to the CFO.
8. I’m Alex Tait and I’m responsible for company recruitment and staff development.