XIII. Write a summary of the text

Tip:

XIV. Reproduce the main text using the words given in Exercises I, II, III.

XV. Practice talking about the following situations

a) You have decided to start-up a business enterprise, but you haven't enough capital, you are looking for a partner to organize a joint venture. What trend of business you will choose and how you will interest your prospective partner.

b) You have decided to set up a joint venture instead of a private enterprise. What are its advantages and disadvantages?

c) If you decided to set up a joint venture, you should know the conditions of its work. Talk about the structure of that enterprise, its trend, profit and distribution of it;

d) The manager charges you to registrate the joint venture. Says some words about the feasibility of study and the conditions of the agreement.

e) You are going to set up a joint venture with a foreign partner. What are the articles of the joint venture agreement and the duties of each side?

XVI. Work in groups of two or three, talk about joint venture activity

a) You are going to start up the Russian-Korean joint venture dealing with construction of houses. You are negotiating with the authorized representative of the «Building-Mark» company and discussing all questions concerning your future undertaking.

b) Discuss with your prospective partner the objectives and the trend of your joint venture.

c) You are setting up the export-import joint venture. Discuss with your partner the conditions of your partnership in terms of management and financial distribution.

d) You are setting up the industrial manufacturing joint venture. Discuss with your partner the questions concerning the sources of raw materials, technology and investments.

e) The Board of Directors of a joint venture is discussing the possibilities of widening its activity and creating the subsidiaries. They set up the working scientific group to investigate the market and fulfill the costing.

Section 3.5. Business planning key vocabulary

I. Remember the correct pronunciation of these words

equilibrium [i:kwɪ'lɪbrɪəm]

financial [faɪ'næn∫ɪəl]

equity ['ekwɪtɪ]

licence ['laɪsəns]

fixture [`fɪksʧə]

utility [ju:'tɪlɪtɪ]

fluctuate [`flæktjueɪt]

premises ['premɪsɪz]

advertising ['ædvətaɪzɪɪη]

insurance [ɪn'∫uərəns]

supply [se'plaɪ]

due [dju:]

postage ['poustɪdʒ]

receipt [rɪ'si:t]

disbursement [dɪs'bə:sment]

efficiency [ɪ'fɪ∫ənsɪ]

variable ['vεərɪəble]

proprietor ['prepaɪətə]

depreciation [dɪprɪ∫ɪ'eɪ∫n]

II. Learn the following English terms and their Russian equivalents. Give your own sentences with them

equilibrium – равновесие

equity – капитал

cash flow – движение наличности

break-even point – точка безубыточности

licence – лицензия

fixture – устройство, приспособление

utilities – коммунальные услуги

fluctuation – колебание, изменение

property tax – налог на движимое имущество

property – собственность

premises – помещения, постройки

dues – выплаты, долги

receipt – доход

disbursements – выплаты, расходы, издержки

variable costs – переменные издержки

balance sheet – бухгалтерский баланс, баланс компании

accounts receivable – счета к получению

less allowance – минус скидка

merchandise inventories – коммерческие товарные запасы

leasehold – арендный

accounts payable – счета к оплате

payroll taxes – налоги с заработной платы

withheld taxes – удержанные налоги

sales tax – налог с оборота

proprietor – владелец

depreciation – амортизация