ulstu.ruvenec.ulstu.ru/lib/disk/2015/Ivasyuk_3.pdf · 2015. 3. 23. · ББК Ш 143.21-9 я7 Б59 Бизнес-курс английского языка: учебно-метод

МИНИСТЕРСТВО ТРАНСПОРТА РОССИЙСКОЙ ФЕДЕРАЦИИ

ФЕДЕРАЛЬНОЕ ГОСУДАРСТВЕННОЕ ОБРАЗОВАТЕЛЬНОЕ УЧРЕЖДЕНИЕ

ВЫСШЕГО ПРОФЕССИОНАЛЬНОГО ОБРАЗОВАНИЯ

УЛЬЯНОВСКОЕ ВЫСШЕЕ АВИАЦИОННОЕ УЧИЛИЩЕ

ГРАЖДАНСКОЙ АВИАЦИИ (ИНСТИТУТ)

БИЗНЕС-КУРС

АНГЛИЙСКОГО ЯЗЫКА

Учебно-методическое пособие

Ульяновск 2008

ББК Ш 143.21-9 я7

Б59

Бизнес-курс английского языка: учебно-метод. пособие / сост.

О.С. Ивасюк, О.А. Никитина. – Ульяновск : УВАУ ГА, 2008. – 106 c.

Содержит тексты к упражнениям по темам, касающимся менеджмента ор-

ганизации, подбора персонала, особенностей заключения контракта, ведения

деловой переписки, маркетинговых стратегий, рекламной деятельности, фи-

нансового менеджмента компаний, направленные на развитие и закрепление

лексических и грамматических навыков, навыков устной речи для делового

общения.

Предназначено для курсантов и студентов специальности 080507.65 –

Менеджмент организации и курсантов специальности 220501.65 – Управле-

ние качеством.

Печатается по решению Редсовета училища.

Ульяновск, УВАУ ГА, 2008

ОГЛАВЛЕНИЕ

I. Management ..................................................................................................... 4

Part 1. Managerial functions ............................................................................ 4

Part 2. Managers .............................................................................................. 9

Part 3. Crisis management ............................................................................. 12

Part 4. Management styles. ............................................................................ 14

II. Recruitment ................................................................................................... 18

Part 1. Positions and responsibilities ............................................................. 18

Part 2. Employing personnel ......................................................................... 20

) ................................................................ 25

Part 4. Сross-border challenge ...................................................................... 29

III. Forms of business organizations ................................................................. 31

Part 1. Owning business ................................................................................ 31

Part 2. Company ............................................................................................ 36

Part 3. Company’s structure .......................................................................... 39

IV. Contracts. business correspondence ............................................................ 42

Part 1. Contract and its features ..................................................................... 42

Part 2. Business letters’ layout ...................................................................... 53

Part 3. Types of business letters .................................................................... 67

V. Marketing ...................................................................................................... 70

Part 1. Functions of marketing ...................................................................... 70

Part 2. Strategy and tactics of marketing ....................................................... 72

Part 3. Advertising ......................................................................................... 76

Part 4. Public relations ................................................................................... 82

VI. Financial managament ................................................................................. 87

Part 1. What is financial management? ......................................................... 87

Part 2. Money and its functions ..................................................................... 91

Part 3. Banks and banking ............................................................................. 95

Part 4. Banking documents .......................................................................... 100

Bibliography .................................................................................................... 105

I. MANAGEMENT

Part 1. Managerial functions

Active vocabulary

to have charge of sth – осуществлять контроль

objective – цель

to meet sth – удовлетворять, соответствовать чему-либо

efficiently – рационально; разумно

to perform – исполнять, выполнять; делать, совершать

to evaluate – оценивать; давать оценку; составлять мнение;

определять качество

to attain to sth – добиваться, достигать чего-либо

to put sth into action – вводить в действие

to associate sth with sth – связывать что-либо с чем-либо

to allocate – назначать; размещать, распределять

supervision – наблюдение; заведование, контроль

to require sth from sb / sth – требовать чего-либо от кого-либо / чего-либо

to involve sth – включать в себя, содержать

technical skills – технические навыки

1. Translate the following words and word combinations.

charge: to be in charge of a sales department, to take charge of a company, to

place in charge of, to take charge of sth.

Who is in charge here? When I go away she is to take charge of the department.

level: to be at / on a level, at sea level, to be on a level with sth, to reach a level,

eye level, water level, at the highest levels, on the international level, to bring sb to

his level, to rise to higher levels, to land on the street level, level of confidence,

state level.

duty: to assume a duty, to carry out / to perform one's duty, to shirk one's duty, to

take up one's duties, official duties, professional duties, to be on duty, to be off duty.

О.С. Ивасюк, О.А. Никитина Бизнес-курс английского языка

© НИЛ НОТ НИО УВАУ ГА(и), 2009 г 3

responsibilitiy: to accept / to take on (a) responsibility, to exercise (the) re-

sponsibility, to shirk responsibility, to share (the) responsibility, collective respon-

sibility, great / heavy / terrible responsibility, personal responsibility, responsibility

lies with sb.

objective: economic objective, long-range objective, military objective, to gain

an objective.

perform: to perform a contract, to perform four basic functions.

The manager has performed the basic functions while working.

planning: planning of objectives, planning of profit, planning group, planning

process, planning sequence, planning stage, planning under dynamic conditions,

planning under uncertainty, planning function, planning estimates.

determine: to determine the answer to the problem, demand determines the

price.

The law will determine all duties towards contracting parties.

achieve: to achieve the goals, to achieve the permanent result.

There are many who will work hard to achieve these goals. We have achieved

what we set out to do.

evaluate: to evaluate data.

He was evaluated as unfit for military service.

establish: to establish a committee, to establish contact / relationship, to estab-

lish the cause of death.

supervision: under sb's supervision, to ease up supervision, to exercise super-

vision of / over sth, to tighten supervision, liberal supervision, close / intensive su-

pervision, supervision of employees.

require: to be required to do sth.

You are required to obey. She required that everyone attend the meeting. The

problem requires careful consideration. Hard work will be required of students in

this course.

skills: interpersonal skills, technical skills, human-relations skills, administra-

tive skills, conceptual skills.



2. Scan through Text A and point out the paragraphs containing informa-

tion on:

− what management is;

− the duties of managers;

− the managerial functions;

− making changes in the company’s organizational or managerial structure;

− the required manager’s skills.

Text A

Management plays a vital role in any business or organized activity. Manage-

ment is composed of a team of managers who have charge of the organization at

all levels. Their duties include making sure company objectives are met and seeing

that the business operates efficiently. Regardless of the specific job, most manag-

ers perform four basic functions. These management functions are: planning, orga-

nizing, directing and controlling.

Planning involves determining overall company objectives and deciding how

these goals can best be achieved. Managers evaluate alternative plans before

choosing a specific course of action and then check to see that the chosen plan fits

into the objectives established at higher organizational levels. Planning is listed as

the first management function because the others depend on it. However, even as

managers move on to perform other managerial functions, planning continues as

goals and alternatives are further evaluated and revised.

Organizing, the second management function, is the process of putting the plan

into action. This involves allocating resources, especially human resources, so that

the overall objectives can be attained. In this phase managers decide on the posi-

tions to be created and determine the associated duties and responsibilities. Staff-

ing,

Third is the

choosing the right person for the right job, may also be included as part of the

organizing function.

day-to-day direction and supervision of employees. In directing,

managers guide, teach, and motivate workers so that they reach their potential abil-

ities and at the same time achieve the company goals that were established in the



planning process. Effective direction, or supervision, by managers requires ongo-

ing communication with employees.

Next function, coordinating, involves coordinating activities of different de-

partments and people to achieve company’s objectives.

In the last management function, controlling, managers evaluate how well

company objectives are being met. In order to complete this evaluation, managers

must look at the objectives established in the planning phase and at how well the

tasks assigned in the directing phase are being completed. If major problems exist

and goals are not being achieved, then changes need to be made in the company’s

organizational or managerial structure. In making changes, managers might have to

go back and replan, reorganize, and redirect.

In order to adequately and efficiently perform these management functions,

managers need interpersonal, organizational and technical skills. Although all four

functions are managerial duties, the importance of each may vary depending on the

situation. Effective managers meet the objectives of the company through a suc-

cessful combination of planning, organizing, directing and controlling.

3. Read Text A. Give Russian equivalents to the underlined word combina-

tions and sentences.

4. Answer the questions to Text A.

1. What is management composed of?

2. What are the main managerial functions?

3. Why is planning considered to be the first managerial function?

4. What does direction require from managers?

5. What is the most effective way of controlling?

6. What should managers do if there are major problems and goals are not be-

ing achieved in the company?

7. What personal qualities should a manager have?



5. Refer to Text A to help you to complete the outline.

Management functions. A. Planning (= determining overall company objectives and how to achieve

them) Managers: a) evaluate alternative plans before …; b) check …; Planning is first because … continues … . B. Organizing (=…) … . 1. Involves …; 2. Managers: a) decide on …; b) choose the right person for the right job (=…) … . C. … (=…) … . 1. Managers … a) …; b) …; c) …; 2. Effective direction requires … . D. … (=…) … . E. … (=…) … . 1. Managers look at: a) …; b) … .

6. Give the main idea of each paragraph of Text A. You can start with ′The

paragraph is about …′.

7. Compress Text A, using the following phrases.

− The title of the text is … .

− The purpose of this text is … .

− The first paragraph deals with … .



− Then the author goes to the problem of …. .

− The text also provides information on … . − The last paragraph deals with … . − I think the text is … because … .

Part 2. Managers

Active vocabulary

to carry out sth – выполнять, совершать; осуществлять что-либо personnel manager – начальник отдела кадров,

менеджер по персоналу top / executive manager – высший исполнительный руководитель middle manager – руководитель среднего звена first-line manager – руководитель низшего звена project manager – руководитель проекта functional manager – функциональный руководитель product manager – руководитель, ответственный за конструирование,

производство и реализацию изделия general manager – генеральный управляющий, директор предприятия to oversee / to supervise sth – присматривать; следить,

смотреть за чем-либо to be in charge of sth – быть ответственным за что-либо

1. Look through the words and try to guess the subject matters of Text B. What do you know about the function of different types of managers?

Text B

A number of different terms are often used instead of the term ′manager′, in-

cluding ′director′, ′administrator′, and ′president′. The term ′manager′ is used more frequently in profit making organizations, while the others are used more widely in government and non-profit organizations such as universities, hospitals and social work agencies. So, whom do we call a ′manager′?



In its broad meaning the term ′managers′ applies to the people who are responsible

for making and carrying out decisions within a certain system. A personal manager

directly supervises people in an organization. Financial manager is a person who is

responsible for finance. Sales manager is responsible for selling of goods. A market-

ing manager is responsible for promotion of products on the market.

Almost everything a manager does involve decision-making. When a problem

exists a manager has to make a decision to solve it. In decision-making there is al-

ways some uncertainty risk. There is a classic definition that ′Leaders do the right

thing and managers do things right′. A more standard definition is usually some-

thing like ′managers work toward the organization’s goals using its resources in an

effective and efficient manner′. In a traditional sense, large organizations may have

different levels of managers, including top managers, middle managers and first-

line managers.

Top (or executive) managers are responsible for overseeing the whole organi-

zation and typically engage in more strategic and conceptual matters, with less at-

tention to day-to-day detail. Top managers have middle managers working for

them and who are in charge of a major function or department. Middle managers

may have first-line managers working for them and who are responsible to manage

the day-to-day activities of a group of workers.

There are different types of managers across the same levels in the organiza-

tion. A project manager is in charge of developing a certain project, e.g. develop-

ment of a new building. A functional manager is in charge of a major function,

such as department in the organization, e.g. marketing, sales, engineering, finance,

etc. A product manager is in charge of a product or service. Similarly, a product

line manager is in charge of a group of closely related products. General managers

are in charge of numerous functions within an organization or department.

2. Discuss the following questions in pairs or small groups.

1. What does the term ′manager′ mean?

2. What synonyms for the term ′manager′ do you know? Where are they used?

3. What responsibilities can managers have within a certain system?



4. What are the levels of managers?

5. Do you know any types of managers across the same levels in the organiza-

tion?

3. Find in Text B English equivalents to the following Russian word com-

binations.

Некоммерческие организации; в широком значении; заведовать людьми;

продвижение товаров на рынке; рациональный способ; уровни управления;

следить за деятельностью всей организации; концептуальные вопросы; по-

вседневная деятельность; тесно связанный; должностные обязанности.

4. Agree or disagree with the following statements. Give you reasons.

1. There is the difference between the terms ′director′, ′administrator′ and

′manager′.

2. Managers of different types are responsible for making and carrying out de-

cisions.

3. In decision-making there is always some uncertainty risk.

4. Top managers pay much attention to day-to-day detail.

5. Managers of different types are responsible for different matters.

5. Make up a plan of Text B. Write down key words to each point. Retell

the text.

6. Make up a summary of the text, using the following phrases.


− The purpose of this text is … .


− Then the author goes to the problem of … .

− The text also provides information on … .

− The last paragraph deals with … .

− I think the text is … because … .



Part 3. Crisis management

Active vocabulary crisis (-es) – кризис (кризисы)

crisis management – кризисное управление

potential crisis – потенциальный кризис

to predict sth – предсказывать что-либо

prediction – предсказание

to analyse sth – анализировать что-либо

to deal with crisis – иметь дело с кризисом

to identify crisis – идентифицировать / распознать кризис

to represent sth – представлять что-либо

1. Think over the definitions for the words ′crisis′ and ′crisis management′.

What phenomena do these notions mean?

2. Study the definitions below. Underline the similarities and circle the dif-

ferences. Render the definitions into English.

a) Антикризисное управление – это действия компании по поддержанию

своей кредитоспособности и репутации после возникновения неблагоприят-

ной ситуации.

b) Кризисное управление – метод управления в неблагоприятной ситуации

на основе разработки краткосрочных стратегий по мере развития событий.

3. Discuss these questions.

1. When, in your opinion, does a business problem become a crisis?

2. What crises that business managers have to face can you think of?

3. What sort of crises might your own company deal with?

4. What do crises management teams do?

5. Is there any positive influence of a crisis over the company and its staff?



4. Agree or disagree.

John F. Kennedy, the 35th US President, considered: ′When written in Chinese,

the word crisis is compounded of two characters – one represents danger, and the

other represents opportunity′.

What do you think about it? Give some examples of danger and opportunity a

crisis can represent.

5. Crisis management experts have identified the following key steps for

companies in a crisis. Use them to complete the table below. Then discuss your

answers.

1. Set up a crisis management team.

2. Try to predict what crises could occur.

3. Role-play a potential crisis.

4. Inform the directors.

5. Disclose as much information as you can.

6. Analyse the actions you took to deal with the situation.

7. Write down and circulate your crisis management programme.

8. Practise making decisions under stress.

9. Work out an action plan to ensure the crisis does not happen again.

10. Find out what happened and how it happened.

Before the crisis During the crisis After the crisis

6. Match words from each box to make word partnerships, adding the

word of if necessary. For example, action plan, admission of liability.

action admission

contingency loss

damage flow legal

press speed

action conference

confidence response

information liability

plan limitation

release



7. Complete these sentences with the word partnerships above.

1. How quickly a crisis is reacted to is known as the … .

2. In a breaking crisis, management may speak to the media in person at a(n) … .

3. Alternatively, they may have a written statement which is given to the media

in the form of a(n) … .

4. During the crisis, management may choose to keep customers or employees

up to date with a regular … .

5. A strategy for dealing with a crisis is a(n) … .

6. A backup strategy is a(n) … .

7. The risk of being taken to court is the threat of … .

8. An acceptance of responsibility in a crisis is a(n) … .

9. Following a crisis, a company may suffer a decline in loyalty from its cus-

tomers, or a(n) … in its product or service.

10. Minimizing the negative effects of a crisis is known as … .

Part 4. Management styles

1. Define the words ′management′, ′style′, the phrase ′management style′.

According to Peter Drucker, Australian-American management guru, ′man-

agement is tasks. Management is discipline. But management is also people′. Do

you share this idea? Give your reasons.

2. Which of these statements do you agree with? Explain your reasons.

A manager should:

− know when each employee’s birthday is.

− know where the employees are and what they’re doing at all times during

working hours.

− not criticize or praise.

− not interfere in disagreements between members of staff.

− not ask people to do things they’re not prepared to do themselves.



− be available at all times to give staff advice and support.

− keep their distance from staff and not get involved in socializing outside work.

− use polite language at all times.

− work longer hours than their staff.

− comment on the personal appearance of their staff. What other styles of manager’s behavior could you think of?

3. Complete column 2 of the table with opposite meanings. For column 2 completion use prefixes in-, ir, un-, il-, dis-. Then complete column 3 with the noun forms. For column 3 completion use necessary suffixes.

1. Adjective 2. Opposite adjective 3. Noun form considerate

creative decisive

diplomatic efficient flexible inspiring interested

logical organized rational

responsible sociable

supportive

inconsiderate consideration

Choose the four best qualities of a manager from the list above and rank them in order of importance. Then choose the four worst qualities and rank them (1 = worst).

Discuss your answers with your groupmates. What other management qualities

or weakness can you add?



4. Match the pairs of contrasting management styles.

1. autocratic a) collaborative 2. centralizing b) controlling 3. directive c) delegating 4. empowering d) democratic 5. hands on e) people-oriented 6. task-oriented f) laissez-faire

5. a) Different business situations call for different management styles. Which kinds of situation need to be tightly managed and which loosely ma-naged?

b) Have you experienced any management style? Which one? c) If you were a manager how would you describe your own manage-

ment style?

6. Render the following sentences into English.

Стили управления персоналом

Стиль руководства (Leadership style) определяется тем, какие модели по-ведения и способы взаимодействия склонен использовать конкретный руко-водитель в общении с подчиненными.

Hands on style – практический; активный. Активный стиль управления характеризуется системностью в применении методов и механизмов управ-ления, созданием четких планов, системы контроля и т. п.

Hands-off management style (syn: laissez-faire management style) – пассив-ный стиль управления. Характеризуется бессистемностью в применении ме-тодов и механизмов управления, отсутствием четких планов, отсутствием системы контроля и т. п.

Authoritarian leadership style (syn: administration leadership style) – авто-ритарный стиль руководства, авторитарное лидерство. Характеризуется еди-ноличным принятием решений, требующих беспрекословного и четкого ис-полнения предписанных правил, инструкций, директив, а также исключени-ем персонала из процесса принятия решений.



Democratic management style – демократичный стиль управления харак-

теризуется привлечением членов коллектива к постановке целей и задач,

распределению работы и т. п.

Country club management – душевный менеджмент. При таком подходе к

управлению руководитель уделяет больше внимания поддержанию благо-

приятного психологического климата в коллективе, а не выполнению произ-

водственных задач.

Macho management – агрессивный способ управления в стиле мачо, соче-

тающийся с пренебрежением современными, более мягкими методами

управления, такими как участие работников в прибылях и собственности, во-

влечение работников в процесс принятия решений и др.

Middle of the road management – сбалансированное, гармоничное управ-

ление, при котором руководитель уделяет равное внимание достижению по-

ставленных целей и заботе о подчиненных.

Management by walking around – управление путем личных встреч, через

общение с коллективом, управление «из среды подчиненных» (метод управ-

ления, делающий акцент на важность личных контактов с персоналом; ме-

неджер обходит компанию и беседует с сотрудниками).

Team management – командное управление. При данном стиле управле-

ния руководитель добивается выполнения производственных задач и сохра-

няет при этом благоприятный психологический климат в коллективе, взаи-

моотношения между руководителем и подчиненными в этом случае строятся

на взаимном доверии и уважении.



II. RECRUITMENT

Part 1. Positions and responsibilities

Active vocabulary

to accept a position – дать согласие занять должность

administrative assistant – офисный работник (обобщающее название

для секретарей, офис-менеджеров,

администраторов и т. п.)

interchangeable – взаимозаменяемый; равноценный, равнозначный

officer – чиновник, должностное лицо; сотрудник, служащий;

член правления

foreman – старший (менеджер), начальник подразделения, отдела

delegate authority – передавать полномочия

hiring – наем (сотрудников)

firing – увольнение

accustomed (to sth) – привыкший, приученный к чему-либо

red tape – зд. канцелярщина

1. Read Text A. Point out all the positions given in Text A and their re-

sponsibilities.

Text A

Ann is having lunch with her sister Barbara. Ann has just accepted a position as

Administrative Assistant. Her boss is an executive with a firm that manufactures

heavy machinery used in construction.

Barbara: You’ve got a new job, Ann. My congratulations.

Ann: Thanks, Barbara.

Barbara: Tell me a few words about your boss. What does he do?

Ann: Well, he is one of the vice presidents of the company, so he’s rather im-

portant. He’s an executive.



Barbara: Do you know the difference between an executive, a manager and an

administrator?

Ann: I’m afraid, I can hardly tell you the difference. I think these words are in-

terchangeable and they really aren’t different in many companies.

Barbara: What about your company?

Ann: In our company the top officers are called administrators. The next high-

est group – the vice presidents, the heads of major departments and branch plant

managers – are executives like my boss.

Barbara: Is that all?

Ann: The group below consists of managers, they are general managers and

foremen.

Barbara: So, I see that an organization has a number of positions and some

people have more authority than others.

Ann: You are right.

Barbara: But it would be interesting to know more about the functions of an

executive like your boss.

Ann: I’d say he makes a lot of important decisions. He sets objectives, coordi-

nates work, delegates authority, makes hiring, firing, evaluating and just general

leading.

Barbara: It seems to be important.

Ann: It is important. It is evident that making careful decisions is the basis of

good management.

Barbara: But do you work under much pressure?

Ann: You know I’m quite used to working under much pressure from my last

job. I’m also accustomed to lots of paper work and red tape.

Barbara: Good for you.

Ann: And what’s more important I feel that I can learn a lot because my boss is

very competent.

Barbara: Good, I think we’d be in a hurry not to get late for the work.



2. Give Russian equivalents to the underlined English words and word

combinations. Learn them.

3. Give definitions for the following positions.

− administrator;

− executives;

− administrative assistant.

4. Render into English.

1. Директор решает вопросы, связанные с наймом и увольнением.

2. Так как он привык к тяжелой работе, он справляется с должностью на-

чальника отдела.

3. Для секретаря канцелярская работа – обычное дело.

4. Наши сотрудники – высококвалифицированные специалисты.

5. У меня достаточно опыта, чтобы занимать должность главы компании.

Part 2. Employing personnel

Active vocabulary to recruit / to employ – нанимать

personnel – персонал, кадры

employee – служащий; работающий по найму

employer – работодатель

to apply for sth – обращаться с заявлением о чем-либо

subordinate – подчиненный

superior – высший, старший (по рангу, званию и т.п. )

position – положение; должность

to refer – направлять; отсылать

files – картотека

to reveal – обнаруживать, показывать

well-suited – годный, подходящий



advantage – преимущество

to inject – вводить, впускать

advertising – рекламирование, рекламное объявление

to require sth – нуждаться в чем-л.; требовать чего-л.

medium (мн.ч. media) – способ, средство

temporary – временный

headhunting – «охота за головами»,

поиск высококвалифицированных сотрудников

to fill a vacancy – заполнить свободное (рабочее) место

shortage – нехватка, недостаток; дефицит

unsolicited – предоставленный добровольно

application – просьба; заявление

1. Match the synonyms.

1) personnel a) appropriate

2) position b) assistant

3) recruit c) hire

4) refer d) need

5) require e) rank

6) subordinate f) send

7) well-suited g) staff

2. Translate the following word combinations.

employee: take on an employee, government employee, white-collar employee,

full-time employee, part-time employee, employee magazines, employee’s skills.

apply: to apply for a job, to apply to the authorities, to apply for assistance, to

apply at the following address, to apply at the office, to apply in person, to apply

by letter, to apply for a position.

position: to look for position, to find a position, to occupy a position, leading

position, government position, managerial position, official position, permanent

position.



shortage: food shortage, housing shortage, labor shortage, teacher shortage, wartime shortages.

reveal: to reveal a secret; to reveal sb’s thoughts, to reveal itself, revealed, re-vealed defect, revealed preferences,

3. Translate the following cognate words.

to employ – employee – employer – employment to recruit – recruiting – recruiter – recruitment to publish – publishing – publisher – published to subordinate – subordination – subordinated to refer – referable – reference to inject –injection – injector to advertise – advertisement – advertiser – advertising.

4. Scan through Text B and name the paragraphs which contain informa-tion on:

− the sources of recruitment;

− advantages of recruiting people within the organization;

− reasons for recruiting people from outside the organization;

− advertising media for recruiting people;

− the types of employment agencies and their activities.

Text B

There are many ways in which an organization can recruit personnel. Posting a list of vacancies on the company notice-board or publishing it in employee maga-zines is fairly common and gives current employees the opportunity of applying for a position. Similarly, a subordinate may be referred for a position by his or her superior.

Another means of recruiting internally is to search in the organization’s exist-ing files. Some companies have a data base of their employee’s skills and special interests. Reviewing these files periodically may reveal employees who are well-suited to a particular position.



Although recruiting people within the organization can have many advantages,

it does have its limitations. If companies wish to be dynamic it is essential to inject

new blood from time to time. Similarly, existing employees may not have the ne-

cessary skills that the position requires. Consequently, it is often necessary to re-

cruit people from outside the organization.

Advertising is a commonly used technique for recruiting people from outside.

The advertising medium should be chosen according to the type of public the or-

ganization is aiming at. If a highly specialized person is required, a speciality pub-

lication such as a trade magazine may be most appropriate. National newspapers

and magazines sometimes carry a Senior Appointments section for specialized per-

sonnel. Many national and local newspapers have a General Appointments section,

or a Classified Ads section for less specialized personnel. Radio and television ad-

vertising of vacancies is relatively undeveloped in most countries.

Employment agencies may be another source of recruitment. State-backed a-

gencies compete with private agencies in many countries. In general, private agen-

cies charge a fee whereas public sector agencies offer their services free of charge.

Another difference is that private agencies tend to offer more specific services; for

example, they may specialize in a particular area of recruitment such as temporary

secretaries, middle managers or senior executives. They may also include search

services, otherwise known as headhunting, or provide management consulting.

Current employees are sometimes encouraged to refer friends, family and ex-

colleagues to fill a particular vacancy. This is particularly true in occupations such

as nursing where there is a shortage of trained people.

Other valuable sources of recruitment may be university campuses, trade un-

ions, professional organizations and unsolicited applications.

5. Read Text B. Give Russian equivalents to the underlined words and

word combinations. Try to memorize them.



6. Give equivalents to the following.

To recruit personnel, to post a list of vacancies, a subordinate, superior, a data

base, state-backed agencies, to charge a fee, headhunting, to fill a vacancy, unsoli-

cited application.

7. Answer the questions to Text B.

1. What is a common way to recruit personnel?

2. What do the organization’s existing files serve for?

3. Why is it often necessary to recruit people from outside the organization?

4. What advertising medium are used for recruiting people from outside?

5. How does the activity of state-backed and private agencies differ?

8. Complete the sentences.

1. Posting a list of vacancies on … or publishing it … gives current employees …

2. Some companies have … of … … and special interests.

3. If … wish to be … it is essential to … from time to time.

4. National and local newspapers and … carry … section for …

5. … employees are sometimes encouraged to … friends, … and … to fill … .

9. Write a sentence explaining what each of the following words means as

they are used in the text above.

posting vacancies subordinate files fee

data base headhunting unsolicited applications

10. Work in small groups / pairs. Choose any of the following recruitment

sources and discuss the advantages and disadvantages of each of them from

the recruiter’s point of view. When you have finished your discussion report

the results of it to the class.

− keeping a data base / files.

− unsolicited applications.

− advertising in speciality publications.

− radio and television advertising.



− advertising in the national or regional press.

− publishing vacancies in the company magazine.

− employment agencies (public and private).

11. Make up a plan of Text B. Write down key words to each point. Retell

the text.

12. Compress Text B, using the following.


− The text deals with some aspects of … .

− At the beginning the author gives … .

− Then the author identifies … .

− Next the text gives us the idea of … .

− The last paragraph contains information on … .

− To my mind … the text is … because … .

Part 3. Curriculum vitae ( )

Active vocabulary Human Resources department (or personnel department) – отдел кадров

position – работа, должность, место

letter of application (or covering letter) – заявление о приеме

curriculum vitae (CV) – автобиография

to prioritize – уделять первостепенное внимание

resume – резюме, краткие биографические данные

experience – опыт

application form – заявление о приеме на работу

interview – собеседование

business awareness – знание бизнеса, осведомленность

commitment – обязательность

motivation – побуждение, движущая сила



recruitment agency (search firm Am) – агентство по трудоустройству

a series – ряд

to simulate – моделировать

profile – краткий биографический очерк; сведения из биографии

to compile – составлять

to conduct sth – проводить что-либо

1. Look through the words above and try to guess the subject matters of

Text C.

Text C

When a company needs to recruit or employ new people, it may decide to ad-

vertise the job or position in the ′NEED HELP′ section of a newspaper. People

who are interested can then apply for the job by sending in a letter of application or

covering letter (cover letter Am) and a curriculum vitae or CV (resume Am) con-

taining details of their education and experience.

A company may also ask candidates to complete a standard application form.

The company's Human Resources department will then select the most suitable ap-

plications and prepare a shortlist of candidates or applicants, who are invited to at-

tend an interview. Another way for a company to hire is by using the services of a

recruitment agency (search firm Am), which provides a list of suitable candidates.

What should a CV be? The CV (Curriculum Vitae – lit. record of life) is presenting your qualifica-

tions, skills and attributes to the employer. CV demonstrates the suitability of an

applicant for the job. As well as providing an insight into previous qualifications

and experience, it should show the employer the skills and qualities the applicant

has, that will match the position being applied for. In compiling CV the applicant

has one objective only – to get an interview in order to get the job.

A CV must be accurate, interesting and up-to-date. It must be presentable so

that it makes the best impression possible and gets noticed. It should be relevant –

targeted to the needs of each particular position.

How to compile the CV?



You need to bring together:

− details of your qualifications – education;

− details of the job itself – job description;

− details of the qualifications and skills required – person specification;

− evidence from your personal profile that matches the employers' criteria.

This information will help you to prioritize the detail that should be included in

your CV.

Style and layout The CV must be accurate, brief and clear. Describe your skills and achieve-

ments as positively as possible. Applicants' skills and qualities that are most often

sought by employers are listed below:

− Communication: ability to communicate orally, in writing or via com-puter / electronic means.

− Team work: working well with others in order to achieve a common ob-jective.

− Leadership: being able to motivate and encourage others, whilst taking the lead.

− Initiative: ability to see opportunities and to set and achieve goals.

− Problem solving: thinking things through in a logical way in order to de-termine key issues! Creative thinking is useful.

− Flexibility / Adaptability: ability to handle change and adapt to new sit-uations.

− Self-awareness: knowing your strengths and skills and having the confi-dence to put these across.

− Commitment / Motivation: having energy and enthusiasm in pursuing projects.

− Interpersonal skills: ability to relate well to others and to establish good working relationships.

− Numeracy: competence and understanding of numerical data, statistics and graphs.



Additionally, employers like to see that applicants have some business aware-

ness – having an insight into what is happening in industry or commerce and the

impact this could have on the organization.

2. Read Text C paragraph by paragraph and determine the main sentence

of each one. Give your reasons.

3. Answer the questions to Text C.

1. What is a CV (resume)?

2. What should be mentioned in a good resume?

3. What are the applicants’ skills and qualities that are most often sought by

employers?

4. Write your own resume for the positions of:

1) personnel manager in a big air company;

2) sales manager in a firm selling air equipment;

3) manager in a big production plant.

5. Act out the situation.

You are the personnel manager of an air company which was created only

5 years ago and is rapidly expanding. At the moment your company needs Senior

manager in Personnel department. Conduct an interview with an applicant for the

post of the production manager. Explain the nature of the job. Ask questions about

the applicants’ personal backgrounds, about their personal traits, find out why the

applicants apply for the job, what they know about the company and what salary

they expect.

6. Answer the questions to feel like an employee.

1. Do you consider reading to be the part of your duties or is it just your hobby?

2. What takes up most of your time at work?

3. What is your main incentive? Why did you choose to work here?

4. What’s the most important part of manager’s duties?



5. How do you hire new people?

6. Do you believe that employees should be duly rewarded?

7. What is your most important professional achievement? What are you espe-

cially proud of?

Part 4. Сross-border challenge

Active vocabulary

competitiveness – конкурентоспособность

acquisition – приобретение; овладение

market capitalization – рыночная капитализация

trend – общее направление, тенденция

crossborder – заграничный, зарубежный

unemployment rate – уровень безработицы

merger – поглощение; слияние, объединение (коммерческое и т.п.)

recruitment campaign – кампания по набору персонала

1. Look through the words above and try to guess the subject matters of

Text D.

Text D For senior executives across modern Europe, it is a challenge: attracting the

best employees, whether to write software or to market pet food. Recruitment is one of the new corporate art form, yet another measure of a company competitive-ness and management ability. Bruce Dorskind’s specialty is global recruitment strategy. His New York City-based Dorskind Group has worked with companies in 40 countries over the past four years and helped an advertisement agency TMP conduct acquisition of 24 recruitment advertising firms and Internet sites, many of them in Europe. It turned TMP into the largest recruitment communications firm in the world, with a market capitalization of $1 billion.

Speaking about the trend in European recruitment, Bruce Dorscind states, that there is consolidation in every industry and globalization. Companies need to



introduce their brands or products to new markets. So there is a move towards the crossborder recruitment, where the demand for talent is spreading across markets. Europeans used to sell products only in their own local markets, but now they are selling them all over the world. And they are looking for people to do that.

For example, now there are four or five pharmaceutical markets and one com-mon language, English. Despite high unemployment rates in Europe, there is also a shortage of people in certain disciplines, especially in information technology, sales and marketing. Another example is consulting. Andersen Consulting in Ger-many recruits from Switzerland and Austria. Consulting firms are among the larg-est recruiters in absolute numbers.

Many young graduates in Europe seek international experience. They want to move to a foreign country, deal with a new language, mostly within Western Eu-rope. Something else to consider is that most jobs in the US are created by new companies that are less than ten years old. In Europe the majority of jobs still come out of older companies, although in new configurations, having gone through mer-gers, etc.

If the companies are going to recruit in various countries, they need to establish an employer brand as well as the consumeries brand. Organizations have to market their companies to potential employees and that’s not something they’ve been good at historically. Companies that want to be pan-European have to create re-cruitment campaigns in much the same way they sell their consumer product.

2. Write questions to the answers.

1. …? – It’s attracting the best employees. 2. …? – Yes, it is another measure of a company competitiveness and man-

agement ability. 3. …? – His specialty is global recruitment strategy.

4. …? – It has worked with companies in 40 countries over the past four years

and helped an advertising agency TMP conduct acquisition of 24 recruitment ad-

vertising firms and Internet sites.

5. …? – There’s consolidation in every industry and globalization.

6. …? – They need to introduce their brands or products to new markets.



7. …? – Yes, demand for talent is spreading across markets.

8. …? – They used to sell products only in their own local markets, but now

they are selling them all over the world.

9. …? – Yes, they are looking for people to do that.

10. …? – There are five or four pharmaceutical markets and one common lan-

guage, English.

11. …? – There is a shortage of people in certain disciplines, especially in in-

formation technology, sales and marketing.

12. …? – Consulting firms are among the largest recruiters in absolute num-

bers.

13. …? – They seek international experience.

3. Nouns used as adjectives. Join the nouns from two columns.

1. recruitment a) growth

2. press b) sheet

3. export c) flow

4. balance d) form

5. cash e) release

6. application f) policy

4. Make up a plan of Text D. Write down the questions to each point of

your plan.

III. FORMS OF BUSINESS ORGANIZATIONS

Part 1. Owning business

Active vocabulary

sole proprietorship – индивидуальное (единоличное) владение бизнесом

partnership – товарищество, партнерство

corporation – акционерное общество; корпорация



receipts – денежные поступления

account – счет

profit – прибыль, доход

unlimited liability – неограниченная ответственность

general partner – член полного товарищества

authority – власть, авторитет, вес, влияние

secret partner (silent partner ) – пассивный партнер

real estate – недвижимое имущество

tax benefits – налоговые льготы

institution – организация, учреждение

stock-holder – акционер; пайщик, владелец акции

financial resources – денежные ресурсы

charitable – благотворительный

1. Translate the following cognate words.

to corporate – corporation – corporator

to account – accountability – accountant

profit – profitability – profitable

authority – authorization – authorize

institute – institution – institutive

charitable – charitably – charities – charity

2. Match these words and phrases with the definitions.

1. partner a) an owner of shares in a business

2. silent partner b) any of the owners of a business who share the profits and

losses rather than receiving regular pay

3. real estate c) an amount of money which must be paid to the government according to income, property, goods bought, etc.

4. tax d) property in the form of land and houses 5. stock-holder e) a partner in a business who takes no active part in its oper-

ation



3. Choose the necessary word from the list and put it in the sentence.

receipts business service privately account corporation forms unlimited liability real estate general partner advantage

profit capital management tax benefit secret partner

1. Small … are very often service industries. 2. The … industries don’t produce material goods. 3. More than 80 per cent of all business … are not from sole proprietorships. 4. Less than 20 per cent of European businesses are partnerships or … . 5. Sole proprietorships … only a small part of all business receipts. 6. Is this bank owned publicly or …? 7. There are three … of business ownership. 8. Partnerships are very often receive … from the government. 9. Limited partnership is a common form of ownership in … . 10. Partnerships have many …, one is that they receive tax benefits from the

government. 11. … are the partners with unlimited liability. 12. … has the authority in management but he is not known to the public. 13. A secret partner takes part in … . 14. General partners have … . 15. One advantage of a partnership is that it offers a multiple source of … . 16. A partnership can bring much … to the partners

4. Scan through Text A and point out the paragraphs containing informa-tion on:

− the forms of business;

− a sole proprietorship;

− the types of a partnership;

− the kind of business to be a partnership;

− the types of corporation;

− the advantages of the corporate form of ownership;

− governmental corporations.



Text A

A business may be privately owned in three different forms. These forms are a

sole proprietorship, a partnership and a corporation. A sole proprietorship is the

most common in most western countries. For example, more than eighty per cent

of all businesses in the United States are sole proprietorship.

But it is evident that sole proprietorships do not do the greatest volume of busi-

ness. They account for only 16 per cent of all business receipts, for example, in the

USA. What kind of business is likely to be a sole proprietorship? First of all, ser-

vice industries such as Laundromats, beauty shops, different repair shops, restau-

rants.

A partnership is an association of two or more persons to carry on a business

for profit. When the owners of the partnership have unlimited liability they are

called general partners. If partners have limited liability they are ′limited partners′.

There may be a silent partner as well – a person who is known to the public as a

member of a firm but without authority in management. The reverse of the silent

partner is a secret partner – a person who takes part in management but who is not

known to the public.

Any business may have the form of partnership, for example, in such profes-

sional fields as medicine, law, accounting, insurance and stockbrokerage. Limited

partnerships are a common form of ownership in real estate, oil prospecting, qua-

rrying industries, etc.

Partnerships have more advantages than sole proprietorships if one needs a big

capital or diversified management. Like sole proprietorships they are easy to form

and often get tax benefits from the government.

Partnerships have certain disadvantage too. One is unlimited liability. It means

that each partner is responsible for all debts and is legally responsible for the whole

business. Another disadvantage is that partners may disagree with each other.

A business corporation is an institution established for the purpose of making

profit. It is operated by individuals. Their shares of ownership are represented by

stock certificates. A person who owns a stock certificate is called a stock-holder

There are several advantages of the corporate form of ownership.

.



The first is the ability to attract financial resources. The next attraction is the

corporation attracts a large amount of capital it can invest in its plants, equipment

and research. And the third advantage is that the corporation can offer higher sala-

ries and thus attract talented managers and specialists.

The privately owned business corporation is one type of corporation. There are

some other types too. Educational, religious, charitable institutions can also incor-

porate. Usually such corporation does not issue stocks and is non-profit

. If there is

a profit it is reinvested in the institution rather than distributed to private stock-

holders.

In some western countries, cities, states, federal government and special agen-

cies can establish governmental corporation. A few examples of these governmen-

tal corporations are state universities, state hospitals and city-owned utilities. Go-

vernmental corporations are non- profit as a rule and usually they do not issue

stock certificates.

5. Read Text A. Give Russian equivalents to the underlined words and

word combinations and learn them by heart.


1. What are the main forms of business organizations?

2. What volume of business do sole proprietorships do?

3. What kind of business is likely to be a sole proprietorship?

4. What business may have the form of partnership?

5. What is a business corporation?

7. Fill in the table and discuss advantages and disadvantages of different

forms of business organizations.

advantages disadvantages

sole proprietorships

partnership

corporation



8. Agree or disagree.

1. More than 80% of all businesses in the United States are sole proprietorship.

2. A partnership is the most common in most western countries.

3. Partners may have limited or unlimited liability.

4. There are different types of business corporation.

5. Governmental corporations are established for the purpose of making profit.

9. Compress Text A, using the following phrases.


− The text is about … .


− Then the author points out that … .

− It is important to note that … .

− It is necessary to say … .

− In fact … .

− The final paragraph ends with … .

− Personally I think … .

10. Make up a plan of Text A. Write down the questions to each point of

your plan.

Part 2. Company

Active vocabulary

accounting firm – бухгалтерская фирма brokerage house – брокерская [маклерская] фирма contribution – взнос, вклад to incur – вытекать, следовать из assets – актив (баланса); средства, фонды, имущество large-scale industry – крупная промышленность



1. Look at the words above and guess about the main idea of Text B.

Text B

Company is an organization that makes or sells goods or services in order to get money. Business enterprises usually take one of three forms: individual pro-prietorship, partnerships or limited-liability companies.

In the first form a single person holds the entire operation as his personal prop-erty, usually managing it on a day-to-day basis. Most businesses are of this type.

The second form, the partnership, may have from 2 to 50 or more members, as in the case of large law and accounting firms, brokerage houses (companies of brokers), and advertising agencies. This form of business is owned by the partners themselves; they may receive varied shares of the profits, depending on their in-vestment or contribution. Whenever a member lives or a new member is added, the firm must be reconstituted as a new partnership.

The third form, the limited-liability company, function on the basis of limited liability. Limited liability is the legal position under which the loss that an owner (shareholder) of a business firm may incur is limited to the amount of capital in-vested by him in the business and doesn’t extend to his personal assets. Acceptance of this principle by business enterprises and governments was a vital factor in the development of large-scale industry, because it is enabled business firms to mobil-ize large amounts of capital from a wide variety of investors who were understand-ably unwilling to risk their entire personal fortunes in their investments.

2. Restore the word order in the questions that follow and answer them.

1. what by the is meant ′company′ term?

2. what business forms do usually enterprises take?

3. meant the what by is ′proprietorship′ term ′individual′?

4. term by is the meant what ′partnership′?

5. third the what form is of enterprise business?

6. term by is the meant what ′liability′ ′limited′?



3. Agree or disagree with the following statements. Give your reasons.

1. Company makes or sells goods or services in order to get profit.

2. Proprietor is an owner of the business.

3. Individual proprietor keeps the entire operation as his rented property.

4. Individual proprietor manages his personal property on a from time to time

basis.

5. Partnership is a business owned by two or more partners who share the prof-

its and losses.

6. Partners share the profits and losses according to their investment or contri-

bution.

7. Whenever a partner leaves or a new partner is added, the firm must be re-

constituted as a new partnership

8. Sleeping (silent) partner is someone who owns part of the business but is not

actively involved in operating it.

9. Limited liability company is a company whose owners only have to pay a

limited amount if the company gets into debt.

10. Limited liability is the legal position of being responsible for paying only a

limited amount of debt if something bad happens to yourself or your company.

4. Render the following sentences into English.

1. Компания продает товары и услуги, чтобы заработать деньги, не так ли?

2. Компанией может владеть индивидуальный собственник, не так ли?

3. Компания может быть собственностью товарищества, не так ли?

4. Компания с ограниченной ответственностью функционирует на основе

принципа ограниченной ответственности, не так ли?

5. Ограниченная ответственность – это ограничение возмещения убытков

от хозяйственной деятельности суммой вложенного капитала?

5. Complete the following statements.

1. Company is … .

2. Business enterprise take … .



3. There are three forms of business – … .

4. Individual proprietor holds …, and manages … .

5. Partners receive … .

6. Whenever a partner leaves … .

7. Limited-liability company functions … .

8. Limited liability is … .

9. Limited liability enables business firm is to … .

10. Investors are understandably unwilling to … .

Part 3. Company’s structure

Active vocabulary

Board of Directors – правление

Chair man – председатель

Managing Director – директор-распорядитель, управляющий,

главный менеджер

Manifold – множественный, многочисленный

to arrange – устраивать(ся), организовывать, подготавливать

proceeding – работа, деятельность

tax implications – воздействие налогообложения

minutes – протокол

to handle sth – управлять чем-либо, справляться с чем-либо

1. Read Text C. Give Russian equivalents to the underlined words and


Text C

The management of the company is called the Board of Directors headed by the

Chair man (President Am.). There is usually a Managing Director and in the case of

big companies there may be several Joint Managing Directors.



A Manager in British companies is the person who is head of a department –

Sales, Export, Works (Production), Staff, etc. So there are Sales Managers, Export

Managers, Works (Production) Managers, Staff Managers, etc.

A general Manager has managers, working under his control, and receives his

instructions from the Managing Director.

By British Company Law (the Companies Acts of 1948 and 1985) a limited

company (public or private) must have a Company Secretary whose duties are ma-

nifold. First he is the clerk to the Directors: he is to keep registers of Directors and

Members, arrange for proceedings at Director’s and shareholders’ meetings, pre-

pare notices for the calling of these meetings, attend them and advise directors at

board meetings on the legal, accounting and tax implications of any proposed

business move as well as keep minutes and write reports (the minutes of a meeting

are usually concise records of resolutions or decisions reached, and the reports are

more extensive and give details of discussions, arguments for or against the resolu-

tions, and so on). Second he represents his company and in his capacity he super-

vises the working of the staff records (if there is no special staff manager), finally

he is often responsible for the accounting and handling of contracts. Thus he is the

link between the company and the members, between the company and the staff

and between the company and the public.


1. What is the management of the company called?

2. Who heads the Board of Directors?

3. What managers are there in British company?

4. What does a General Manager do?

5. What are the duties of a Company Secretary?

3. Give English and American equivalents of the types of companies ac-

cording to the characteristics given below.

1. a limited liability company in which the equity capital is formed only at the

expense of deposits of its members.



2. a Partnership that bears characteristics both of a limited partnership and a

public limited company.

3. a limited liability company in which the initial capital is formed by the way

of selling shares.

4. a partnership in which creditors shall be paid both at the expense of its prop-

erty and private property of its full members.

5. a partnership in which creditors shall be paid both at the expense of its prop-

erty and private property of all its members.

4. Answer the questions.

1. What do you want to be busy with?

2. What services and skills can you contribute in your business?

3. Are you a careful person, or do you like to run a risk?

4. Do you want to go into business alone or with a partner?

5. What partner do you get along well with?

6. What kind of partner would you like to be: a general partner or a limited

partner? Why?

7. What legal procedure do you have to follow if you want to form a corporation?

8. Who has final authority and supervises the daily management of a corporation?

9. In what way can a corporation act?

10. In what branches of industry is a corporate form of proprietorship the most

beneficial in this country?


1. Члены правления несут полную юридическую ответственность.

2. Партнер с ограниченной юридической ответственностью не имеет ре-

альной власти.

3. Секретный партнер принимает участие в управлении, но он неизвестен

общественности.

4. Партнерство имеет много преимуществ. Среди них – налоговые льготы

от правительства.



5. Корпорация имеет больше возможностей для вовлечения финансовых

ресурсов, чем партнерство.

6. Акционеры имеют решающее слово в управлении корпорацией.

7. Каждый год акционеры проводят собрание и выбирают совет директо-

ров.

8. Образовательные, благотворительные, религиозные учреждения могут

быть корпорациями. Подобные учреждения, как правило, не приносят при-

быль.

9. Эта корпорация прибыльна, она будет расширяться.

10. Корпорация имеет право подавать иск и отвечать по иску.

IV. CONTRACTS. BUSINESS CORRESPONDENCE

Part 1. Contract and its features

Active vocabulary

parties to the contract – стороны договора

to draw sth up – составлять что-либо

to transfer – перевозить, транспортировать, переправлять

miscarriage – недоставка по адресу

default – отказ выплачивать долги

transaction – сделка, соглашение

clause – статья, пункт, условие (контракта)

legal title – юридическое название

delivery terms – условия поставки

payment terms – условия оплаты

to conclude a contract – заключать контракт

volume of delivery – o6ъем поставки

value / amount – стоимость, цена

value of the Contract – стоимость контракта



firm / fixed / sliding price – твердая, фиксированная, скользящая цена

contract performance – исполнение контракта

destination – назначение, пункт назначения

warehouse – товарный склад;

letter of credit (L/C) – аккредитив

irrevocable L/C – безотзывный аккредитив

revolving L/C – (автоматически) возобновляемый аккредитив

terms of insurance – условия страхования

to specify – onpeделять

disputes – cnopы, разногласия

negotiations – nepeговоры

FOB (free on board) – франко-борт

C&F (cost, freight) – КАФ, стоимость, фрахт

CIF (cost, insurance, freight) – СИФ, стоимость, страховка, фрахт

1. Discuss these questions before you read Text A.

1. What are contracts made for? What kinds of contracts do you know?

2. What contracts have you ever concluded?

3. Have you ever canceled a contract?

2. Read Text A. Give Russian equivalents to the underlined words and word combinations and learn them by heart.

Text A

The Contract is a business agreement between two parties which buy or sell goods or services. Contracts are concluded either between companies in one coun-try or internationally, that is between companies from different countries.

The contract can be made orally or in writing, although it is usual for the con-tract to be drawn up in writing to prevent disputes. These are contracts involving the sale and transfer of real estate, contracts to guarantee or answer for the miscar-riage, debt, default of another person. A contract forms the basis of a transaction between the buyer and the seller.



The Contract has the following clauses or articles: 1) Naming (definition) of the parties and their legal addresses. 2) The subject of the Contract, that is what goods or services will be bought or

sold and the volume of delivery. 3) Prices and the total value (amount) of the Contract including terms of delivery. The price stated in the Contract may be firm, fixed or sliding. Firm prices can

not be changed in the course of the Contract performance. Fixed price is the price in the market on the day of delivery or for a given period. Sliding prices can be for machinery and equipment which require a long period of delivery.

4) Time (dates of delivery) is shown in the Contract too. 5) Terms of delivery. The most usual terms of delivery are FOB, CIF, C& F. FOB (Free on board). The seller pays for the transportation of the goods to the

port of shipment and the loading costs. The buyer pays for everything else (freight, insurance, unloading and transpor-

tation from the port of destination to his warehouse). The passing of risk occurs when the goods have passed the ship’s rail at the

port of shipment. C&F or CAF or CFR (Cost and freight). The seller pays for the transporta-

tion of the goods to the port of shipment, loading costs and freight. The buyer pays for insurance, unloading and for the goods to be transported

from the port of destination to his warehouse. The passing of risk is the same as for FOB (when the goods pass the ship’s rail

at the port of shipment). CIF (Cost, insurance and freight). The seller pays for the transportation of

the goods to the port of shipment, loading costs, freight and insurance. The buyer pays for unloading and for the goods to be transported from the port

of destination to his warehouse. The passing of risk is the same as for FOB and CFR (when the goods pass the

ship’s rail at the port of shipment).* 6) The Contract also specifies packing, marking and terms of payment. Goods for export are to be properly packed. In case of consumer goods packing

has a double function. On the one hand, it is for protection. On the other – it serves to advertise a product and attract a customer.



Marking should be in indelible paint with recognizable marks. Payment in foreign trade may be made in cash and on credit. The most widely

used method is payment by letter of credit (L/C). The following types of L/C are usually used: irrevocable, confirmed, and revolving.

An irrevocable L/C can not be modified or cancelled without the consent of the party in whose favour it has been opened.

A confirmed L/C is an irrevocable L/C, payment under which is guaranteed by a first class bank.

A revolving L/C is one under which its value is constantly made up to a given limit after payment for each shipment.

7) The Contract also includes terms of insurance (if any) and a Force Majeure clause. It usually includes natural disasters such as an earthquake, flood, fire, etc., which the parties can't control.

8) It is also specified in the Contract in what ways disputes are solved. All the clauses of the Contract have numbers, and in the negotiations or corres-

pondence one can refer to the specific clause

or sub-clause. The international Contract is usually written in two languages, one copy for

each party. *For further information about terms of delivery see: www.iccwbo.org/incoterms www. wikipedia.org/wiki/Incoterms.ru www.ukroil.com.ua/useful/incoterms www.inservice.ru www.iatp.md/alexwine/incoterms2000.ru.htm


1. What is a contract? 2. Why are standard contracts widely used? 3. What are the essential clauses of a contract?

4. What is ′subject of the contract′?

5. What does the point ′Prices and Total Value′ include? 6. What do terms of delivery comprise?



http://www.iccwbo.org/incoterms�

http://www.ukroil.com.ua/useful/incoterms�

http://www.inservice.ru/�

7. What terms of payment do you know? 8. Why are goods to be properly packed? 9. How is marking to be made? 10. What unforeseen circumstances may upset the fulfillment of contractual ob-

ligations?

4. Fill in the words from the list. Choose the right forms of the verbs.

destination insure make carriage licence available terms disagreements

1. The producing company often … its goods to wholesale company and pays for … .

2. The buyer is responsible for the transport costs from the port to the … . 3. The seller has to obtain an export … . 4. The aim of Incoterms is to avoid … resulting from differences in trading

practices in various countries. 5. The … of the contract should satisfy both parties. 6. Under CIF terms the buyer pays for the goods and their transportation and

also … the goods.

5. Complete the questions.

1. … is the Contract? 2. … legal addresses named in the Contract? 3. …. firm prices be changed? 4. … is fixed price? 5. … are the most usual terms of delivery? 6. … the Contract specify packing? 7. … are ways of payment in the Contract? 8. … is the most widely used method of payment? 9. … are types of L / C? 10. … is also specified in the Contract?




1. Аккредитив – это способ безналичных расчетов между предприятиями и организациями, суть которого состоит в том, что банк плательщика дает поручение банку, обслуживающему получателя платежа, оплатить требуе-мую сумму в оговоренный срок на основе условий, предусмотренных в ак-кредитивном заявлении плательщика.

2. Главную роль в аккредитивной операции играет банк, выставляющий аккредитив, или банк-эмитент (issuing bank). Лицо, которому предназначен денежный платеж, иными словами, получатель денег, называется бенефициар (beneficiary).

3. Безотзывный аккредитив – это твердое обязательство банка-эмитента произвести платежи при предоставлении банку коммерческих документов аккредитивом и соблюдении бенефициаром всех его условий. В таком аккре-дитиве обычно указывается срок, до истечения которого аккредитив не мо-жет быть отозван.

4. Подтвержденный аккредитив – аккредитив, получивший дополнитель-ную гарантию платежа со стороны другого банка, который принимает на се-бя обязательство оплачивать документы, соответствующие условиям аккре-дитива, если даже банк-эмитент откажется совершать платежи.

5. Автоматически возобновляемый или револьверный аккредитив – ак-кредитив, открываемый не на полную сумму платежей, а на ее часть и авто-матически возобновляемыq по мере осуществления расчетов за очередную партию товаров. Револьверный аккредитив применяется в расчетах за регу-лярные поставки.

7. Compress Text A, using the following.


− The text is about … .


− Then the author points out that … .

− It is important to note that … .

− It is necessary to say … .



− In fact … .

− The final paragraph ends with … .

− Personally I think … .

8. Make up a plan of Text A. Write down the questions to each point of your plan.

9. Read Text B and point out primary clauses of the contract.

Text B

Sample of Contract CONTRACT № Moscow "___"____________20__ Messrs …

hereinafter referred to as the ′Sellers′, on the one part, and … Moscow, RF, he-

reinafter referred to as the ′Buyers′, on the other part, have concluded the present Contract for the following:

1. Subject of the Contract The Sellers have sold and the Buyers have bought the equipment hereinafter re-

ferred to as the ′goods′ on terms FOB-stowed port … .

The Sellers will deliver to the Buyers FOB port … or free on rail … frontier or

FOB airport ... or will send by post to the address … .

_________________________________________________________________ (description of equipment, instruments, etc., their technical specification or reference to quotation or to

Catalogue № )

complete with standard spare parts, required technical documentation and corres-

ponding accessories.

2. Prices and Total Value The total value of the equipment, spare parts, tools, technical documentation

and services in the volume of the present Contract amounts to … .

The total amount of the Contract is … . The prices are firm for the duration of

the Contract, not subject to any alterations.



3. Terms of Payment Payments at the rate of … % of the value of the delivered equipment are to be

effected in _________________within 30 days of the date of receipt by the Buyers (currency)

of the following documents for collection:

− …

− …

− …

4. Delivery Dates The equipment specified in Clause I of the present Contract is to be delivered

complete as follows … .

By the time stipulated the equipment is to be manufactured in accordance with

the Contract conditions, tested, packed, marked and delivered FOB … .

All the questions connected with shipment of the goods are to be settled in ac-

cordance with the Buyers' Forwarding Agent: … .

By the first of the month preceding the month of shipment the Sellers are to no-

tify the Buyers by cable about the date of the readiness of the goods for shipment

from the port ... stating the weight and the cubic volume of cargo. The same notifi-

cation is to be sent to the Buyers' Forwarding Agent.

Within 24 hours after shipment of the goods the Sellers are to let the Buyers

know by cable the date of shipment, Contract and Trans numbers, the denomina-

tion of the equipment, the quantity of the vessel and the port of destination.

The delivery date is understood to be the date of the ′clean-on-board′ Bill of

Lading issued in the name of the Buyers, destination … port.

If on the expiration of 30 days from the date of the readiness of the goods for

shipment the shipping facilities are not available and so the goods cannot be

shipped from the port of … the Sellers have the right to hand over the goods to the

Buyers' Forwarding Agent.

After handing over the goods to the Buyers' Forwarding Agent all the expenses

connected with the storage of the goods up to the moment of loading them on

board a ship are to be covered by the Buyers.



If the goods are not ready for shipment by the date of arrival of the vessel the

Sellers are to cover the losses the Buyers may sustain in connection with demur-

rage and/or under loading of the ship (dead freight).

5. Packing and Marking The equipment is to be shipped in export packing corresponding to the nature

of each particular type of the equipment.

The packing is to secure the full safety of the goods from any kind of damage

and corrosion during its transportation. The goods are to be packed so as not to al-

low for their free movement inside the package when it changes its position.

The Sellers shall be responsible to the Buyers for any damage to the goods ow-

ing to the improper packing.

The cases in which the equipment is packed are to be marked on three sides –

on two opposite sides and on the top of the case.

The marking shall be clearly made with indelible paint both in … and in Rus-

sian languages, stating as follows: Contract N, Trans N, Case N, Net weight, Gross

weight, Dimensions of the case in cm (length, width, height).

The packages for which special handling is required shall have additional

marking: ′Handle with care′, ′Top′, ′Do not turn over′.

The Sellers are responsible for additional transport and storage charges in-

curred due to the dispatch to a wrong address caused by improper or incorrect

marking.

6. Guarantee The Sellers guarantee:

That the equipment supplied and technological process, automation and me-

chanization are in full accordance with the highest world technical achievements

and meet the highest standards for this type of the equipment existing at the time of

delivery.

That the equipment to be supplied has been manufactured in full conformity with

the description, technical specification and with the conditions of the Contract.

The period of guarantee of the normal and trouble-free operation of the

equipment is to be 12 months from the date of putting it into operation.



If the defects cannot be eliminated, the Buyers have the right to reject the de-

fective equipment or to request a corresponding reduction from its price.

If during the commissioning period and / or final tests and / or during the

guarantee period the equipment or technical documentation prove to be defective

and / or incomplete and/or not in conformity with the Contract conditions, then the

Sellers undertake to eliminate at their expense the detected defects immediately at

the Buyers' request by means of repairing or replacing the defective equipment or

parts thereof with new ones of good quality.

All the transport charges and other expenses connected with the return and/or

the replacement of the defective equipment both on the territory of the Buyers'

country and the transit country as well as on the territory of the Seller's country are

to be borne by the Sellers.

7. Force Majeure The Parties are released from responsibility for partial or complete non-fulfilment

of their liabilities under the present Contract, if this non-fulfilment was caused by the

circumstances of Force Majeure, namely: fire, flood, earthquake, provided the cir-

cumstances have directly affected the execution of the present Contract.

In this case the time of fulfilment of the Contract obligations is extended for

period equal to that during which such circumstances last.

The Party, for which it became impossible to meet obligations under the Con-

tract, is to notify in written form the other Party of the beginning and cessation of

the above circumstances not made within 15 days deprives the corresponding Party

of the right to refer to such circumstances in the future.

The written evidence issued by the respective Chambers of Commerce will be a

sufficient proof of the existence and duration of the above indicated circumstances.

If these circumstances last longer than six months, then each Party will be en-

titled to cancel the whole Contract or any part of it and in this case neither Party

shall have the right to demand any compensation of eventual losses from the other

Party.

The Sellers undertake in this case immediately to return the Buyers all the ad-

vanced amounts paid by the latter under the present Contract.



8. Sanctions In the event of the Sellers delay in the supply against the dates stipulated in the

Contract the Sellers are to pay to the Buyers penalty at the rate of 0.5% of the val-ue of goods not delivered in due time.

10. Find in the Sample of Contract the following word-combinations and try to memorize them:

Предмет контракта: именуемый в дальнейшем «Продавец»; настоящий контракт о нижеследующем; необходимая техническая документация; общая стоимость оборудования; в объеме настоящего контракта; срок действия кон-тракта; цены не подлежат изменению; условия платежа: в размере … % от стоимости; в течение 30 дней; сроки поставки: к оговоренному времени; в соответствии с условиями контракта; экспедитор; не позднее 1-го числа; на-править Покупателю телеграфное извещение; объем груза; после отгрузки товаров; наименование оборудования; порт назначения; наклад-ная/коносамент на имя …; по истечении 30 дней; расходы по хранению гру-за; возместить расходы; в связи с задержкой; упаковка и маркировка: соот-ветствующий типу данного оборудования; обеспечивать полную сохранность груза; перемещаться внутри тары; вследствие ненадлежащей упаковки; не-смываемая краска; вес брутто; «Осторожно», «Не кантовать»; отправка не по адресу; вследствие неполноценной или неправильной маркировки; гарантии: соответствовать наивысшим достижениям мировой техники; удовлетворять самым высоким нормам; в полном соответствии с описанием; бесперебойная работа оборудования; если недостатки неустранимы; требовать соразмерную уценку; выявятся недостатки; возврат или замена дефектного оборудования или его отдельных частей; расходы несет продавец; форс-мажор: освобож-даются от ответственности; вызванный обстоятельствами непреодолимой си-лы; неисполнение контракта; невозможность исполнения обязательств по контракту; известить в письменной форме; наступление и прекращение вы-шеуказанных обстоятельств; лишать права ссылаться на…; торговая палата; вправе отказаться от контракта в целом; возмещения убытков; авансовые суммы; санкции: платить штраф; своевременно.



11. Answer the questions.

1. What are the essential clauses of the contract? 2. What is the Subject of the Contract? 3. What price is stated in the Contract? 4. When are payments to be effected by the Contract? 5. What are the terms of delivery stated in the Contract? 6. How are Sellers to notify the Buyers about the date of the readiness of the

goods for shipment? 7. Who is to cover all the expenses connected with the storage of the goods up

to the moment of loading them on board a ship? 8. How is the equipment to be packed and marked by the contract? 9. What is the period of guarantee by the contract? 10. How are the circumstances of Force Majeure determined by the contract?

12. Compose a written contract for purchase and sale of:

− uniform for aircompany personnel; − technical equipment for aircraft maintenance;

− catering.

Part 2. Business letters’ layout

Active vocabulary

to confirm – подтверждать

routine – типовой, стандартный

form letter – стандартное письмо

time-saving device – инструментарий экономии времени

layout – расположение

salutation – приветствие

body of the letter – основной текст письма

complementary closing – заключительная формула вежливости

enclosure – вложение, приложение



company-form – фирменный бланк

heading – заголовок

courtesy title – титул, носимый по обычаю, «титул учтивости»

transparent-window – прозрачный прямоугольник (на конвертеe)

intention – намерение

Yours faithfully – с уважением

in ink – чернилами

legibly – разборчиво, понятно

to type – печатать

on behalf of – от лица, от имени (кого-л.)

empower – уполномочивать, поручить

(сделать что-л. от чьего-л. имени)

power of attorney – доверенность

convey – передавать

labelled – маркированный

1. Before reading Text C, share the information you know about differenc-

es in writing formal and informal letters.

2. Read Text C. Try to get as much new information about formal letters writing as possible.

Text C

Proper business letter writing is very important for normal commercial activity. In spite of the development of telephone, telex and telegraphic ways of communi-cation and the increasing personal contacts in international trade, the writing of let-ters continues. In fact most telephoned and telegraphed messages have to be con-firmed by letters. So every good businessman should be competent in writing ef-fective business letters in English.

It is also useful to remember that the subject of the routine business letters in export-import trade lacks variety. Therefore, first, certain accepted standard phras-es are in general use and secondly, form letters may be used: it facilitates the communication because the repetitive nature of many business transactions and



situations makes the use of standard letters a time-saving device. However, wheth-er you write a special letter or make use of a standard letter, you should know the main parts of any business letter and its layout.

Business letters are usually written on printed company-forms. The letterhead gives the name of the company, the postal and telegraphic addresses, the telephone number(s), the number of the telex(-es) and telefaxes; sometimes some other in-formation such as: the names of important officials (e.g. directors), the particular official, to whom the company may wish to have all communications addressed, spaces for letter indexes (references) and the date.

The layout and par ts of a business letter

The ordinary business letter comprises the following principal parts: 1. The Date. 2. The Inside Address. 3. The Opening Salutation. 4. The Subject Heading. 5. The Opening Paragraph. 6. The Body of the Letter. 7. The Closing Paragraph. 8. The Complementary Closing. 9. The Signature. 10. Enclosures, Postscripts and Copies seat.



A sample of the layout of a business letter

2nd Febr. 2008 (The Date)

The Secretary, The Western Wheat Co. Pic, 64, Darwin Road, LIVERPOOL, 16, England. (The Inside Address)

Dear Sir, (The Opening Salutation) Abt: ORDER No. 1367 (The Subject Heading)

We thank you for your letter of 23rd of January and are writing to inform you that... (The Opening Paragraph)

.................................................................................................................................. (Body of the Letter)

We hope that these alterations will be acceptable to you and expect your reply as soon as possible. (The Closing Paragraph)

Yours faithfully, (The Complementary Closing)

per pro. THE ORIENTAL TRADING CO. LTD J. Brown Manager

(The Signature)

Enc: Above alterations (I page) (Enclosures and postscripts)

1. The date In English business letters the date (day, month and year) is typed on the right-

hand side. It is customary to type the date in full, not just in figures e.g. 2nd Apr.

2008 which is pronounced, ′the second of April two thousand and eight′. The name

of the month may be abbreviated: January, to Jan., February to Feb., March to Mar,



April to Apr., June to Jun., August to Aug., September to Sept., October to Oct.,

November to Nov., December to Dec. Only May and July are written in full.

In American business letters the date is written in the following way: Apr. 2,

2008 which is read: ′April second, two thousand and eight′ The name of the month should not be stated in figures, as it may easily be confusing, because in the USA it is the practice to write dates as seen above in a different order month, day and year, e.g. 9.2.08 means on the second of September, 2008.

2. The inside address The name and address of the company written to are usually typed on the left-

hand side against the margin, all lines starting at the same margin, not diagonally.

Letters to men can be addressed as follows: ′Mr Brown, Mr T. Brown,

Mr Thomas Brown′ (preferably the way he signs the letters). Unmarried women and young girls can be addressed as 'Miss'. Married women are addressed Mrs M(ary) Brown (previously it was Mrs T(homas) Brown). Where it is not known whether a woman addressed is married or single 'Ms' has recently crept into

use instead of ′Miss' and 'Mrs'. When in doubt use 'Miss' rather than 'Mrs'. Should

there be doubt about the sex of the person addressed, use ′Mr′. If a letter is addressed to a company, and the writer wishes to direct it to a particular

person, the words ′For the attention of ...′ or just ′Attention of ...′ (giving the name of the person) should be typed just above the salutation, as they form no part of a letter.

Example. Brown & Co. Plc., 34, High Street. LONDON. E.C. 3. Attention of Mr Popov Dear Sirs,

After the name of the company the number of the house and the name of the street

are given, then the name of the town and of the county. In the case of big towns in

Great Britain no name of a county is required, but small towns usually need an indica-

tion of a county in the address, especially as the names of small towns are often dupli-

cated (for example, in Great Britain there are two Richmonds – one in Surrey and

one in Yorkshire).



In Britain the recommended form of postal address has the Post Town in capital

letters, followed by the country in small letters, followed by the post-code (whose

system has now been introduced), the use of the code as part of the address (e.g.

CRO 5BL for Croydon) speeds delivery by enabling letters to be sorted mechani-

cally. When writing letters to other countries, always give the name of the country,

even if the town is the country's capital. There is. for example, a London in Eng-

land and another in Canada, a Boston in England and another in the USA, a Tripo-

ly in Libya and another in the Lebanon, a Blantyre in Scotland and another in Ma-

lawi.

For the same reason, when writing to firms in the USA you must add the name

of the State after the name of the town: CHICAGO, ILL (Illinois), PENNSYLVA-

NIA, VA (Virginia). The name of the city New York is usually followed by N.Y.

(New York) or NJ (New Jersey).

To secure a balanced layout and also accommodate the use of ′window′ type

envelopes, (transparent-window envelopes), the placing of the inside address, i.e.

the correspondent's full address, near the bottom left-hand comer of the letter is al-

so acceptable.

3. The opening salutation The Salutation varies according to circumstances and should be in harmony

with the Inside Address and the Complimentary Closing. If the letter is addressed

to the company (which is not recommended, but very often done), the form of ad-

dressing is: ′Dear Sirs′; if the letter is addressed to an individual, the most usual

forms are: ′Dear Sir′, or ′Dear Madam′, (it applies to both married and single

women).

These are the usual greetings in English business letters. Americans prefer

′Gentlemen: ′ and if they use ′Dear Sirs′, ′Dear Madam′, they use them with a co-

lon instead of a comma.

When the correspondent is unknown to you and may be either a man or a wom-

an, always use the form ′Dear Sir′. If the correspondent is known to you personal-

ly, or if your firm has traded with his firm for some time, you may use a warmer

and more friendly greeting ′Dear Mr Brown. ′



4. The subject heading The Subject Heading indicates the subject-matter of the letter (its topic), thus

enabling the reader to see immediately what the letter is about, and is placed just after (below) the salutation (since it forms part of the letter) and in the middle of

the page. In front of it the wording ′Re-′ (short of the latin in re) meaning ‘regard-

ing’ was formerly used. Now it is out of date. 'Abt′ (short for 'About') may be used. Or the Subject Heading is just underlined, it is sometimes written in capital letters.

This title to a letter, however, is not always required and the date of a letter referred to in the first line of the answer is often indication enough of what the subject is.

Example. Dear Sir, Abt: Order No. 342 of 3rd Apr., 1990 Dear Madam, YOUR ENQUIRY OF 5th MAY, 1990 Dear Mr Brown, Abt: the arrival of our inspectors

5. The opening paragraph The opening paragraph will often state the subject-matter of the letter by giving

the date of the letter, which is being answered, and the writers’ feelings on the sub-ject: pleasure, regret, surprise or gratitude. A short opening sentence will often at-tract attention more successfully than a longer one.

6. The body of the letter Its text, its message. A letter should only deal with one specific subject as sev-

eral subjects may require attention in different departments and may complicate the filing system.

Business letters should be simple and clear, polite and sincere, concise and brief. That means using simple, natural, short words and sentences; admittance of mistakes openly and sincerely; using concise words and sentences instead of wor-dy ones; and avoiding repetition or needless words and information. Express your self in a friendly way and with a simple dignity.

To make a letter easier to read and to a certain extent more attractive, divide it into paragraphs, each paragraph dealing with one idea, one aspect of the subject or giving one detail.



7. The closing paragraph The closing paragraph contains a statement of the writer's intentions, hopes and

expectations about future actions, i.e. it serves as a summary of what has been dis-

cussed before and what is going to be the next step.

8. The complementary closing It is a polite way of ending a letter. The expression used must suit the occasion

and match the opening salutation.

The standard form (formal): Dear Sir(s),

(or Dear Madam),

…

Yours faithfully.

Informal (used between people who know each other and to add a friendly

touch to a business letter):

Dear Mr Brown,

Dear Mrs Brown,

…

Yours sincerely.

To express a little warmer feeling than ′Yours sincerely′:

Dear Mr Popov,

(or My Dear Mrs Smith.)

…

Yours very sincerely,

American form

Gentlemen:

…

Yours truly,

(Yours very truly)

9. The signature Business letters are signed by hand in ink, clearly and legibly. The same style

must always be adopted. The writer's name and title are typed below the signature.



The name of the company or of the organization for which the writer signs the let-

ter is typed under the complimentary closing (above the signature).

If the writer signs the letter on behalf of a company or on behalf of another per-

son, the per pro. = p.pro. = p.p. (short of per procurationem) is used before the

name. The person signing is empowered by a proper legal document (a power of

attorney) to sign letters and other documents.

Otherwise ′For′ is used before the name of the firm or person.

A letter having a per pro. signature, i.e. when on behalf of a company, should

be written in the plural number.

Or you may put it the other way around: if you write the letter in the first-

person plural, after the complimentary closing the name of the company (V/0)

should be included.

Example

Yours faithfully,

for V/0 "Prodintorg"

(I. Pavlov)

Director

or

Yours faithfully.

per pro. THE ORIENTAL TRADING CO. LTD

F. Howard

Secretary

10. Enclosures and postscripts If there is an enclosure (enclosures) to the letter, it should be clearly indicated

by typing the word 'Enclosure' or its abbreviation 'Enc' (not 'Encl' as is still used by

our trading bodies though it is out dated) in the bottom left-hand corner of the page

below the Signature. It may be preceded or followed by a figure indicating the

number of enclosures if there is more than one, and the names of the documents in

them, and the number of pages.



Example

Enc: Specification No. 13/45 (5 pages)

Enc: (3) Invoice

Bill of Lading

Insurance Policy (6 pages)

If there are copies of the letter to be sent to other addresses it is indicated under

the Enclosure/

Example

Copy: Russian Trade Delegation

c.c. Moscow Narodny Bank

Russian Trade Delegation

Postscript should be used as an emergency not as a normal conclusion only

when information to be conveyed comes to hand after the letter proper has been

completed. Otherwise it is a sign of bad construction of the letter. Postscript is ab-

breviated to ′PS′ (not ′P.S.′). An additional postscript is labelled ′PPS′.

11 . Useful phrases and expressions

The opening paragraph a) In reply to your letter of 2nd Mar. this year we would like to inform you ...

(= we are writing to inform) …

We thank you for your letter dated 3rd Jun. and write to tell you ... (wish to in-

form you ...).

b) We are sorry to have to remind you ... .

To your regret we shall have to ... .

We regret to inform you that ... .

c) We are glad to inform you ... .

We are happy to tell you ... .

We are pleased to inform you ... .

We are surprised to learn that ... .

Further to our letter of 3rd June ... .

With reference to (= Referring to …) the enquiry of 4th July, 200 ... .

We refer to your Order № 256 and … .



We have received your letter dated 13th Mar ... .

We thank you for the letter of 13th Mar … .

To express apologies and regrets: We regret being unable to ... – Сожалеем, что мы не сможем … .

Unfortunately we cannot ... – К сожаления, мы не сможем … .

Please accept our apologies for ... – Просим принять наши извинения за … .

We express our apology that ... – Извините нас за… .

We offer (make) our apology ... – Мы приносим свои извинения… .

To express gratitude We would be very much obliged ... – Мы были весьма признательны … .

I shall be grateful to you ... – Мы будем вам благодарны … .

We shall appreciate it if ... – Мы будем вам признательны, если … .

We are indebted to the Chamber of Commerce and Industry for your address –

Мы обязаны за ваш адрес Торгово-промышленной палате.

We owe your address to ... a certain company – Мы обязаны за ваш адрес…

такой-то фирме.

To express request Please let us know ... – Просим вас сообщить нам… .

We would ask (request) you to ... – Мы просили бы вас … .

We'd be obliged if... – Мы бы были обязаны, если бы … .

We'd be glad to have your latest catalogue – Мы были рады получить ваш

последний каталог.

Kindly inform us of the position of the order – Просим Вас поставить нас в

известность о ходе выполнения заказа.

To express confirmation We confirm our consent to the alterations – Подтверждаем свое соглашение

с данными изменениями.

Please acknowledge receipt of our invoice – Просим вас подтвердить полу-

чение нашей счет-фактуры.

The closing paragraph We look forward to trading with you to the mutual benefit of our companies.



We hope to establish fruitful business relations with your company.

We hope that you will act as requested.

We look forward to hearing from you soon.

Your prompt (early) reply will be appreciated.


1. What are the parts of a Business letter?

2. What is the difference between the English and American ways of writing

the date?

3. What is the difference of writing the inside address in English and in Russian?

4. How do the English and the Americans write the opening salutation and the

complementary closing?

5. When is the phrase ′For the attention of...′ used?

6. What is the opening paragraph intended for? What phrases may be used in the

opening paragraph?

7. What is the main principle of dividing the letter into paragraphs?

8. What is the purpose of the closing paragraph?

9. What phrases do you know that may be used in closing paragraphs?

10. How are business letters signed?

11. What should you remember about enclosures and why?

12. Why do you think writing of postscript is considered to be bad?

4. Think of and write the proper complementary closing for the next salu-

tations.

Dear Sir, Dear Sir: Messrs

Dear Mr Brown, Dear Madam, Gentlemen:

Dear Mrs Popov, Dear Mrs Brown: Dear Dr Harris,

5. Say the following in English / American way.

3.1.08, 9.3.1999, 24.4.01, 23.VI.07, 5.2.03, 22.V. 2000, 29.VII.2005, 5.8.02,

1.9.07, 7.10.04, 9.12.2006, 2.11.1998.



6. Write inside addresses and salutations.

а) на фирму SkyAir Ltd, Лондон СВ. 5, Куин Виктория 25, на имя менед-

жера по экспорту.

b) на фирму London Air Company, в Лондоне Н.В. 7, по улице Минсинг

Лейн 37, на имя секретаря.

c) в Манчестер, 15, улица Марпл Роуд, дом № 37, на фирму «Астлей Бра-

зерз».

d) в Ливерпуль 16, улица Дарвин Роуд, дом № 64, фирме «Вестерн Вхит

Ко. Лимитед» г-же Мари Дарвин.

е) в Вестфорд, графство Хэмпшир, улица Гроув Роуд, дом № 33, фирме

«Брэдлей и Сан Лтд». Вниманию г-на Н. Петрова (менеджера).

7. Write salutations and the proper closings.

в английскую компанию; в американскую корпорацию; секретарю – жен-

щине; секретарю компании; миссис Д. Джонсон; мисс Е. Грин; г-ну Т. Смиту;

г-ну Дж. Брауну, которого Вы хорошо знаете; Стоку (в американской фир-

ме); секретарю (в американской фирме).



8. Study a sample of the American business letter. Point out its principal

parts. Compare the sample with the English one.

Febr 2 2006

The Sales Manager, The Eagle Press Inc, 24 South Bank, BOSTON, MA Mass 02110, USA Gentlemen:

(body of the letter) Yours truly, Mrs. J. Brown 72/2 Ekamai Rd, Bangkok 10110, Thailand V/0 'TECHMASHEXPORT' Telephone: 391-3773, 391-3774 35. MOSFILMOVSKAJA UL. Telex: 81004 COMTEX TH MOSCOW, 117330 Fax: (662)3811005 Russia Cable: COMBITEX BANGKOK Your Ref. Our Ref. Date 19th July 2006 Attention: Firm 'MATEX' Dear Sirs, Please be advised that payment of total sum of commission for Contract No 88/05-

80184 – Unity Textile and Contact No 88/05-80187 – Sanguanchai are to be transferred to:

STANDARD CHARTERED BANK 6, Battery Road, Singapore 0104 ACU Account No 7-258666-5 MR VICHTT LEROBUN

Thank you for your kind attention. Sincerely yours. COMBITEX CORPORATION LTD Vichit Lerdbun Managing Director



Part 3. Types of business letters

1. Read Text D and answer the questions below each paragraph.

Text D

There are various types of business letters: Inquiry, Offer, Order, Letter of Com-plaint, Payment and Reminders and others. All these letters comprise the principal parts of a routine business letter but differ in the subject matter touched upon in the body.

Sample of Inquiry

Dear Sirs, We have for many years been importers of Electric Clocks mainly from Switzer-

land to our air company. We learn that in recent years several English firms have started manufacturing this

line. We would be very grateful if you could give us a list of these firms so that we can find out whether their goods are suitable for our aviation company.

Your early replay would be appreciated/ Yours faithfully, … .

What are inquiries used for? What are the main points of an inquiry? Why is it important to give full details in an inquiry?

Sample of Offer

Dear Sirs, We thank you very much for your inquiry and we are enclosing with this letter our

current catalogue which gives detailed information about our equipment. We have achieved impressive results in tests of our equipment. It is very reliable.

Please note the safety and fuel economy of the product. Our prices are quoted CIF Western European ports. The usual terms of payment are

cash against documents. We will be pleased to supply any further information you require.

Yours faithfully, … .

What points can an offer contain? Are offers always sent in response to an inquiry?



How can an offer stimulate customers’ interests?

Sample of Order

Woolworth Ltd. 10 Horndean Way Bristol BS2 6CS Great Britain

1 Dec. 2007 Dear Mr. Young Purchase Order №.1148

Thank you for your letter of 24th November, enclosing your catalogue and price list. We have considered the models of your drills and are satisfied with their design

and features. We enclose our official purchase order and will open an irrevocable Letter of Credit

as soon as we receive your pro forma invoice.

Yours sincerely Hugh Jones Marketing manager

Enc. Order №.1148 To: Woolworth Ltd. 10 Horndean Way Purchase Order Bristol BS2 6CS № 1148 Great Britain Date: 1 December 2007

Quantity Description Unit Total 200 Electric Drill M 2343 £ 135.75 £ 27,150 100 Electric Drill EL 1368 £ 175.15 £ 17,515 150 Electric Drill FT 14 £ 360.18 £ 54,027

Total £ 98,692

Delivery Date Required: Terms For: Home Stores

20 December 2007 30 days from receipt H. Jones

What should be done to place an order? What information does an order contain?



When a substitute can be done?

Letter of Complaint

Ref: our Order № 1148 of 25th March, 20__

Dear Sirs, Thank you for the delivery of men’s air uniform, which were ordered on 25th

March. At the same time we would like to draw your attention to the following. After examination of the uniform we discovered some manufacturing defects:

− there are oil stains on 12 suits; − the color of bottoms of 5 suits doesn’t match the color of these suits; − one uniform is in a different style.

We are returning the defective uniforms by separate mail, carriage forward, and would ask you to replace them by uniforms of proper quality.

We would appreciate a prompt reply. Yours faithfully, …

What are the reasons for a letter of complaint? What information does a letter of complaint contain? What sorts of complaints seem unreasonable?

Sample of Reminder

Dear Mr. Carsons: Accordingly to our records payment of our invoice No.24915 sent to you in May

has not been made. As specified on all our estimates and invoices our terms of business are 30 days net.

Your invoice has now been outstanding for 90 days. In this case of unsettled debt of this duration it is our company policy to take legal action.

We would naturally prefer not to have to go so far. Would you please send us a check by return. In case you have lost or mislaid the original I am enclosing a copy of our invoice.

We look forward to receiving your payment by return. Yours sincerely,

Pirre Lacost

Pirre Lacost Credit Controller



When is a reminder sent?

What can you say about the style of a reminder?

How can a problem of non-payment be solved?

V. MARKETING

Part 1. Functions of marketing

Active vocabulary

marketing – торговля, продажа, сбыт; маркетинг

to assess sth – оценивать, определять величину чего-либо

to facilitate – содействовать; способствовать; помогать, продвигать

coercive – насильственный, принудительный

to confine – ограничивать

facilitator – фасилитатор

discounted price – цена со скидкой

to lure away – завлекать

to purchase – покупать, закупать

intermediary – посредник

middleman – агент, посредник

wholesaler – оптовик, оптовый торговец

retailer – розничный торговец

warehouse – товарный склад

contractual relations – договорные отношения

efficient – рациональный, целесообразный

to handle – управлять чем-либо



1. Scan through Text A and express the main idea of each paragraph.

Text A

Marketing and its functions. Marketing is the ability to assess by whatever means, the needs of the consumer, then using the available resources, design, pro-duce, advertise, and deliver the goods at the right time and at the right place and price to the customer. Marketing principal function is to promote and facilitate ex-change. Through marketing, individuals and groups obtain what they need and want by exchanging products and services with other parties. Such a process can occur only when there are at least two parties, each of whom has something to of-fer. In addition, exchange cannot occur unless the parties are able to communicate about what they offer and to deliver what they offer.

Marketing is not a coercive process: all parties must be free to accept or reject what others are offering. So defined, marketing is distinguished from other modes of obtaining desired goods, such as through self-production, begging, theft, or force. Marketing is not confined to any particular type of economy, because goods must be exchanged and therefore marketed in all economies and societies except perhaps in the most primitive one. Furthermore, marketing is not a function that is limited to profit-oriented business; even such institutions as hospitals, schools, and museums engage in some forms of marketing.

Marketing, its customers, distributors and facilitators. The elements that play a role in the marketing process can be divided into three groups: customers, distributors and facilitators. In order to understand customers, certain questions must be answered: Who constitutes the market segment? What do they buy and why? How, when and where do they buy? Thus, a remotely situated wholesale store may use discounted prices to lure customers away from the more convenient-ly located shops.

Customers can be divided into three categories: consumer customers, who pur-chase goods and services for use by themselves and by those with whom they live; and business customers, who purchase goods and services for use by organization for which they work. Four major types of factors influence consumer buying beha-viour: cultural, social, personal and psychological.



Many producers do not sell products or services directly to consumers and in-

stead use marketing intermediaries, such as middlemen (wholesalers, retailers,

agents and brokers) and distributors. Distributor is a company or person that makes

wholesale purchases from the producers of finished products to become available

for people to buy. It is quite a large company having its own warehouses and estab-

lishing active contractual relations with manufacturers. Because marketing func-

tions require significant experience, it is often both efficient and effective for an

organization to use the assistance of independent marketing facilitators. These are

organizations and consultants whose sole or primary responsibility is to handle

marketing functions

Part 2. Strategy and tactics of marketing

. There are four major types of marketing facilitators: advertis-

ing agencies, market research firms, transportation firms and warehousing firms.

2. Read Text A. Give Russian equivalents to the underlined words and



1. What is marketing?

2. What is marketing’s principal function?

3. How many categories can the customers be divided into and what are they?

4. What are the major factors that influence consumer buying behaviour?

5. What are marketing intermediaries?

6. Give definition to facilitators.

4. Compress Text A.

Active vocabulary

segmentation – сегментация

targeting – определение объектов, целей

positioning – позиционирование

credibility – вера, доверие



to communicate – говорить, сообщать, общаться

assembling – сборка, компоновка

to design – предназначать

marketing-mix – комплекс маркетинга, маркетинг-микс

to command – требовать

market share – доля рынка

pricing – калькуляция цен

competitor – конкурент, соперник

distribution – распределение, распространение

door-to-door selling – торговля (продажа) вразнос

factory outlet – склад-магазин фирмы

1. Scan through Text B and find out the key points / components of mar-

keting strategy and tactics.

Text B

Marketing strategy. The marketing process is divided into a strategic and a tac-tical phase. The strategic phase has three components – segmentation, targeting, and positioning (STP). The organization must distinguish among different groups of customers in the market (segmentation) and choose which groups it can serve effectively (targeting). A key step in marketing strategy, known as positioning, in-volves creating and communicating a message that clearly positions the company or its brand in relation to competitors. Thus, Volvo (Sweden) has positioned its au-

tomobile as the ′safest′, and Daimler-Benz (Germany), manufacturer of Mercedes-

Benz vehicles, has positioned its car as the best ′engineered′. Some products may

be positioned as ′outstanding′ in two or more ways. However, claiming superiority along several dimensions may hurt a company’s credibility because consumers will not believe that some company can do better than others in all dimensions. Fur-thermore, although the company may communicate a particular position, custom-ers may perceive a different image of the company as a result of their actual un-pleasant experiences with the company’s product or through word of mouth.



Marketing tactics. Having developed a strategy, a company must then decide

which tactics will be most effective in achieving strategy goals. Tactical marketing

involves creating a marketing mix of three main components – product, price and

place. Before assembling a product, the marketer’s role is to communicate custom-

er’s desires to the engineers who design the product. This is in contrast to past

practice, when engineers designed a product based on their own preferences, inter-

ests or expertise and then expected marketers to find as many customers as possi-

ble to buy this product.

The second marketing-mix element is price. A Mercedes-Benz vehicle is gen-

erally considered to be a high-quality automobile, and it therefore can command a

high price in the marketplace. On the other hand, in order to get market share,

some companies have moved to ′more for the same′ or ′the same for less′ pricing,

which means offering prices that are lower that are those of their competitors.

Place, or where the product is made available, is the third element of the mar-

keting-mix. When a product moves along its path from producer to consumer, it is

said to be following a channel of distribution including, for example, food-

processing plants, warehouses, wholesalers, and supermarkets. Because of this,

some marketers may decide to skip steps in the channel and instead market directly

to buyers through direct mail (advertisements that are sent by mail to many

people), telemarketing (a method of selling things in which you telephone people

to see if they want to buy something), door-to-door selling

5. What are the three leading elements in marketing process?

(visiting each house in a

street or area, to sell something), shopping via television, or factory outlets.

2. Read Text B. Give Russian equivalents to the underlined words and



1. What two processes is marketing process divided into?

2. What components does the strategic phase have?

3. What is STP? Give definitions.

4. What does tactical marketing involve?



4. Make up a plan of Text A. Write down the questions to each point of

your plan.


1. Маркетинг – система организации и управления деятельностью компа-

нии, направленная на обеспечение максимального сбыта ее продукции, дос-

тижение высокой эффективности экспорта и расширение рыночной доли.

2. Сегментация – процесс выявления наиболее благоприятных условий на

рынке с целью выбора варианта ориентации производственно-сбытовой по-

литики.

3. Позиционирование – действия, направленные на обеспечение товару

конкурентоспособного положения на рынке и разработку соответствующего

комплекса мер.

4. Тактический маркетинг включает в себя создание маркетингового мик-

са, состоящего из трех компонентов – продукта, цены и места.

5. Роль торговца – донести до производителя пожелания покупателя по

поводу товара.

6. В маркетинговом процессе принимают участие три группы: покупате-

ли, дистрибьюторы и фасилитаторы.

7. Потребителей можно разделить на две категории: покупатели, приобре-

тающие товары или услуги для себя и своей семьи, и покупатели, приобре-

тающие товары или услуги для организации, в которой они работают.

8. На поведение покупателей влияют четыре основных фактора: культур-

ный, социальный, личный и психологический.

9. Дистрибьютор – это компания, которая приобретает товар у производи-

теля оптом и продает потребителям через сеть розничных торговых точек.

10. Фасилитаторы – это организации или консультанты, чья основная обя-

занность исполнять функции маркетинга.



Part 3. Advertising

Active vocabulary

to advertise – рекламировать to persuade – убеждать advertising campaign – рекламная кампания circulation – тираж audience – публика particular interest – особый интерес broadcast – радио, радиовещание to promote – продвигать, создавать благоприятные условия для продажи intrusive – навязчивый, назойливый unlikely – маловероятно, неправдоподобно to be in great demand – пользоваться большим спросом creativity – творчество (процесс), креативность advertising message – рекламное обращение to afford – (быть в состоянии) позволить себе to compete – состязаться, соперничать, конкурировать counteract – препятствовать, противодействовать reliance on sth – доверие, уверенность to reduce – понижать, сокращать, уменьшать to mislead – вводить в заблуждение to tempt – искушать; прельщать, привлекать, притягивать slogan – лозунг, призыв appeal – призыв, обращение testimonial – рекомендация; характеристика

1. Before reading Text C, discuss the following questions in small groups or in pairs. Prove your ideas.

1. Do you think advertising is important in our everyday life (business activity)? 2. What objectives may advertising agencies (advertising campaigns) have? 3. What are the ways of gaining the advertising campaigns’ targets?



2. Read Text C. Translate the underlined words and word combinations

and learn them.

Text C

To advertise means to tell people publicly about a product or service in order to

persuade them to buy

The most pervasive media are television and radio. Advertisers can buy short

“spots” of time to promote their products or services. Advertising spots are broad-

cast between or during regular programs. For advertisers the most important facts

about a given television or radio program are the size and composition of its audi-

ence. The size of the audience determines the amount of money the broadcaster

can charge an advertiser, and the composition of the audience determines the ad-

vertiser’s choice as to when a certain message, directed at a certain segment of the

it. Advertising – the techniques and practices used to bring

products, services or opinions to public notice for the purpose of persuading the

public to respond in a certain way toward what is advertised. Most advertising in-

volves promoting a good that is for sale, but similar methods are used to encourage

people to drive safely, to support various charities, or to vote for political candi-

dates. In many countries advertising is the most important source of income for the

media through which it is conducted. The media are all the organizations, such as

television, radio, and the newspapers, that provide information for the public.

The great expansion of business in the 19th century was accompanied by the

growth of an advertising industry; it was that century, primarily in the USA, that

saw the establishment of advertising agencies. Advertising agency is a company

that designs and makes advertisements for other companies. By the 1920s advertis-

ing agencies could plan and execute complete advertising campaigns.

Advertising and its media. There are some principal media for advertising.

Newspapers can offer advertisers large circulations and the opportunity to alter

their advertisements frequently and regularly. Magazines may be of general inter-

est or they may be aimed at specific audiences (such as people interested in com-

puters or literature) and offer the manufacturers of products of particular interest to

such people the chance to make contact with their most likely customers.



public, should be run. The other advertising media include direct mail, outdoor

billboards, posters and etc. Advertising is on some occasions too intrusive.

Advertising and its effectiveness. There is no serious disagreement over the

power of advertising to inform consumers of what products are available (can eas-

ily be bought or found). In a free-market economy effective advertising is ex-

tremely important and necessary to a company’s survival, for unless consumers

know about a company’s product they are unlikely to buy it. For an advertisement

to be effective its production and placement must be based on a knowledge of the

public and a skilled use of the media.

A career in advertising is a difficult one. Good advertisers are in great demand. Advertising agencies serve to organize complex advertising campaigns. The effec-tiveness of advertising campaigns is based on research into consumer behaviour and demographic analysis of the market area. Advertisers combine creativity in the production of the advertising messages

Advertising, its cost and its influence. In criticism of advertising it has been argued that the consumer must pay for the cost of advertising in the form of higher prices for goods; against this point it is argued that advertising enables goods to be mass marketed, thereby bringing prices down. It has been argued that the cost of major advertising campaigns is such that few firms can afford them, thus helping these firms

with canny scheduling and placement, so that the messages are seen by, and will have an effect on, the people advertisers most want to address. Given a fixed budget, the advertiser faces a basic choice: he can have his message seen or heard by many people fewer times, or by fewer peo-ple many times.

to dominate the market; on the other hand, whereas smaller firms may not be able to compete with larger ones at a national level, at the local level adver-tising enables them to hold their own. Finally, it has been argued that advertisers exercise an undue influence over the regular contents of the media they employ – the editorial stance of a newspaper or the subject of a television show. In response it has been pointed out that such influence is counteracted, at least in the case of financially strong media firms, by the advertiser’s reliance on the media to convey his messages; any compromise of the integrity of a media firm might result in a smaller audience for his advertising.



The benefits of advertising. Advertising benefits consumers and the economy

in a number of ways:

− It provides us with information about prices, recent improvements in cer-

tain goods and services, and the availability of new ones.

− Advertising often results in lower prices. Large-scale production can re-

duce costs

− Advertising

. By creating mass markets, advertising enables producers to reduce the

costs of their products and pass those savings on to the consuming public.

stimulates competition

− Advertising pays most of the cost of magazines and newspapers, and all

of the cost of commercial radio and TV.

, and competition benefits us all. Ad-

vertising by one firm puts pressure on others within the industry to do at least as

well to attract the consumer’s money.

Advertising helps the economy as a whole by stimulating consumer demand.

Consumer spending has a direct effect on the health of the economy. Advertising

helps to keep that spending as healthy levels.

The disadvantages of advertising. Not everyone agrees that advertising bene-

fits the economy. Critics list the following points of its disadvantages:

− The information contained in advertising does not inform and often

− Because it costs money to advertise, this cost adds to the price consumers pay.

mis-

leads the consumer.

− Consumers are tempted to spend money

− Radio and TV are not really free because the cost of advertising on them

is also passed on to the consumer.

for products they do not really need.

Advertising strategy. Three strategies that have been especially popular with

advertisers can be classified as slogans, rational appeals and emotional appeals.

Slogans. Advertisers often use slogans that sound great but mean little or noth-

ing. Yet, advertisers seem to feel that such slogans, when repeated often enough,

do increase sales.

Rational Appeals. Rational appeals rely upon logic or reason to convince the

consumer to buy a product. ′Our cookies contain 25% fewer calories than the next



leading brand′ – this is an example of an advertisement that appeals to reason. Ads for health foods, pain relievers and home remedies tend to use this technique.

Emotional Appeals. Emotional appeals rely upon the use of psychology. The following is a sample of such strategies:

− Testimonials. These are the advertisements in which famous people claim they use and enjoy a particular product. Ads for sports equipment frequently rely on this category.

− The Bandwagon. The bandwagon appeal implies that everybody is using a particular product and that if you don’t, you will be left out. The term derives from the practice, during nineteenth-century circus or political parades or jumping on or following behind the wagon carrying the band. Soft drink and automobile ads use this appeal.

− Popularity. Some advertisements suggest that simply by using the adver-tised product you will be popular.

Every day you as a consumer are the object of the marketing effort of different companies. Most of the marketing strategies represent honest efforts to convince you to buy a product or service. Nevertheless you are responsible for evaluating advertising directed at you and deciding whether or not to buy the product.

3. Translate the following word combinations into English and use them in your own sentences.

1) технические приемы; 2) убедить потребителя; 3) реагировать определенным образом на рекламируемые товары и услуги; 4) рекламные средства; 5) быть нацеленным на особую аудиторию; 6) всюду проникающие средства рекламы; 7) навязчивая реклама; 8) определенный сектор публики; 9) комплексные рекламные кампании; 10) демографический анализ рынка. 11) исследование покупательского поведения




1. Реклама используется для того, чтобы привлечь внимание публики к

определенным товарам.

2. Почему размещать рекламу в газетах выгодно?

3. Рекламу можно назвать «навязчивой»?

4. Реклама создает спрос на товары и услуги.

5. Может ли хорошая реклама убедить покупателя купить ненужный ему

товар?

6. Платит ли за рекламу потребитель?

7. Какой товар может обойтись без рекламы?

8. Реклама убеждает водить машину аккуратно.

9. Журналы предлагают производителям товаров установить контакты с

потенциальными покупателями.

10. Рекламные агентства служат для проведения рекламных кампаний.

5. Give the definition to the following words.

advertising; advertising media; advertising agency; newspaper circulation; spe-

cific audience; pervasive media; available goods or services; editorial stance.


1. In what way do consumers and the economy benefit from advertising?

2. What are the benefits of advertising?

3. What are the disadvantages of advertising?

4. How are the advertising strategies classified?

5. Give an example of different advertising strategies.

6. What are the methods and types of advertising?

7. Does advertising influence your personal decisions to buy or not to buy?

7. Make up a plan of Text A. Write down the questions or the key words to

each point of your plan.



Part 4. Public relations

Active vocabulary

public relations (PR) – связи с общественностью

to manage the flow of information – управлять потоком информации

exposure – появление на публике, на экране телевизора и т. п.

news item – информационный видеосюжет

to build rapport – строить взаимоотношения

general public – широкая публика, общественность

stake – доля капитала в предприятии

stakeholders – владелец / держатель доли капитала в предприятии

to portray – изображать, описывать

within the field of public relations – в зоне / области PR

mutually – взаимно

to tabulate – сводить в таблицы; составлять таблицу

to foster – поощрять, побуждать, стимулировать; одобрять

beneficial – полезный, выгодный

to focus on sth – фокусироваться, концентрироваться на чем-либо

to tailor to - изготовлять для специального применения

fluid - подвижный, изменчивый; нестабильный

charity – благотворительность

to donate money – жертвовать деньги

1. Scan through Text A and find the difference between advertising and PR.

2. Read Text A, translate the underlined words and word-combinations.

Learn them.

Text A

Public relations (PR) is the practice of managing the flow of information

between an organization and its publics. Public relations – often referred to

exposure

as PR –

gains an organization or individual to their audiences using topics of



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http://en.wikipedia.org/wiki/Organization�

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public interest news and items that do not require direct payment. Because public

relations places exposure in credible third-party outlets

legitimacy

, it offers a third-party

that advertising does not have. Common activities include speaking at

conferences, winning industry awards, working with the press, and employee

communication.

PR can be used to build rapport with employees, customers, investors, voters,

or the general public. Almost any organization that has a stake in how it is

portrayed in the public arena employs some level of public relations. A number of

specialties exist within the field of public relations, such as Investor Relations or

Labor Relations.

The Public Relations Society of America (PRSA) claimed in 1988: ′Public

relations help an organization and its publics adapt mutually to each other′.

According to the PRSA, the essential functions of public relations include

research, planning, communications dialogue and evaluation.

Edward Louis Bernays, who is considered the founding father of modern public

relations along with Ivy Lee, in the early 1900s defined public relations as a

′management function which tabulates public attitudes, defines the policies,

procedures and interests of an organization … followed by executing a program of

action to earn public understanding and acceptance′.

Today, ′Public Relations is a set of management, supervisory, and technical

functions that foster an organization's ability to strategically listen to, appreciate,

and respond to those persons whose mutually beneficial relationships with the

organization are necessary if it is to achieve its missions and values′. Essentially it

is a management function that focuses on two-way communication and fostering of

mutually beneficial relationships between an organization and its publics.

Building and managing relationships

A

with those who influence an organization

or individual’s important audiences has a central role in doing public relations.

fundamental technique used in public relations is to identify the target

audience, and to tailor every message to appeal to that audience

demographics

. It can be a

general, nationwide or worldwide audience, but it is more often a segment of a

population. Marketers often refer to economy-driven ′ ′, such as




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http://en.wikipedia.org/wiki/Customers�

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http://en.wikipedia.org/wiki/Voters�

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′black males 18-49′, but in public relations an audience is more fluid, being

whoever someone wants to reach. For example, recent political audiences include

′soccer moms′ and ′NASCAR dads′. There is also a psychographic grouping

In addition to audiences, there are usually

based on fitness level, eating preferences, ′adrenaline junkies′, etc...

stakeholders, literally people who

have a ′stake′ in a given issue. All audiences are stakeholders (or presumptive

stakeholders), but not all stakeholders are audiences. For example, a charity

commissions a PR agency to create an advertising campaign to raise money to find

a cure for a disease

1. practice

. The charity and the people with the disease are stakeholders,

but the audience is anyone who is likely to donate money.

Sometimes the interests of differing audiences and stakeholders common to a

PR effort necessitate the creation of several distinct but still complementary

messages. This is not always easy to do, and sometimes – especially in politics – a

spokesperson or client says something to one audience that angers another

audience or group of stakeholders.


1. What do common activities in PR include?

2. What specialties exist? 3. What do essential functions of PR include? 4. Who is considered to be the founding father of modern public relations? 5. What is the definition of PR, given by Edward Louis Bernays? 6. What is the modern definition of PR? 7. What activity takes the central role in doing public relations? 8. How do you understand the word «publicity»? Define it. 9. What is the primary technique used in PR? How does it work? 10. What is the difference between stakeholders and audiences?

4. a) Make up sentences using the following words.

publics an PR and the of the of between managing is organization flow information its.



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http://en.wikipedia.org/wiki/Information�

2. at activities conferences awards industry the winning working with and press employee speaking include communication PR.

3. any has organization a almost stake employs of some that level public relations.

4. help relations organization public and its an publics mutually each to adapt other.

5. the functions of communications essential public research relations planning dialogue and evaluation include.

6. public procedures relations a management function as which public attitudes defines the policies, and tabulates of an tabulates organization.

7. PR is a function that focuses on beneficial two-way management communication and relationships fostering of mutually an organization and between its publics.

b) Define the situations each sentence was used in.

5. a) Make up a plan of Text A. Write down the questions to each point of

your plan.

b) Compress Text A.

6. Read Text B. Define the underline words.

Text B

Agency and Corporate PR

For PR practitioners and decision-makers the difference between agency and

corporate PR teams is a fundamental dividing line for the profession. For smaller

organizations, a PR agency is often their only source of PR counsel and work,

while larger organizations typically work in a hybrid model with an internal PR

team

Agencies leverage their business model to provide resources (

and an outside agency team. Still others have an internal team without an

agency at all.

experts, tools, resources, information, and media relationships) that can be used for many different clients; resources that may not be sensible for each organization or



individual to own and manage themselves. Internal teams that work directly for the organization or individual often have a better understanding of their employer’s business and work within the organization to engage the stakeholders, content providers

The advent of social media is the most pre-eminent trend in PR today. Among the primary commenters on the convergence of traditional and social media in PR is

and decision-makers inside the company. Smaller firms typically specialize in specific topics and industries while larger

firms have access to more resources and experts.

7. Make a plan for retelling Text B. Retell the text.

8. Read Text C, determine its primary and secondary points.

Text C

The Industry Today Advertising dollars in media products from corporations like News Corp., Dow

Jones, and CMP are under rapid decline in favor of direct advertising products offered by search engines and other tools. 11 Traditional media publications are laying off journalists, consolidating beat reporters, shrinking their print editions, and many publications are shutting down entirely.

Blogs have lower over-head costs than traditional media and are often said to provide better news coverage and analysis. Blogs are increasingly sprouting to replace traditional media with a more sustainable low-cost business model and are gaining more of a following.

Brian Solis, who coined the term "PR 2.0" in 1993. Social media releases, search engine optimization, content publishing, and the

introduction of podcasts and video are other burgeoning trends. Public relations and publicity are not synonymous but many PR campaigns

include provisions for publicity. Publicity is the spreading of information to gain public awareness for a product, person, service, cause or organization, and can be seen as a result of effective PR planning.



http://en.wikipedia.org/wiki/Brian_Solis�

http://en.wikipedia.org/wiki/Publicity�

9. Write out the key words from each paragraph. Restore the text using these words.

10. Find more information about PR and prepare the presentation about it.

VI. FINANCIAL MANAGAMENT

Part 1. What is financial management?

Active vocabulary

financial management – управление финансами financial statements – финансовый отчет to enable – давать возможность что-либо сделать projection – прогноз financial performance – потребность в кредите credit requirements asset – актив(ы); авуары return on investment – прибыль на инвестиционный капитал shareholder – акционер issues of stocks (bonds) – выпуски акций (облигаций) to raise funds – привлекать фонды, мобилизовать средства to rely on sth – полагаться на что-либо trade credit – коммерческий (торговый) кредит lease financing – лизинговое финансирование, финансирование операций по аренде и прокату personal equity – собственные средства lease-back – продажа оборудования с получением его обратно в аренду working capital (circulating capital) – оборотный капитал,

оборотные средства net working capital – чистая стоимость оборотного капитала working capital accounts – счета оборотного капитала

current assets – оборотные фонды, средства

liabilities – задолженность



business failure – деловая несостоятельность

marketable securities – легко реализуемые ценные бумаги

short-term certificate of deposit – краткосрочный депозитный сертификат

to extend credit – предоставлять кредит

accounts receivable – дебиторская задолженность, счета дебиторов

inventory – материально-производственные запасы

accounts payable – кредиторская задолженность, счета кредиторов

notes payable – векселя к оплате

accrued expenses – накопленные издержки

tax payable – налог, подлежащий уплате

balance sheet – (бухгалтерский) баланс, балансовый отчет

insurance premium – страховой взнос

salary – заработная плата; оклад

payable – подлежащий оплате

to meet obligations – платить по обязательствам

1. Read Text A and tell your partner what you have learnt from it.

Text A

Financial management is the use of financial statements that reflect the finan-

cial condition of a business to identify its relative strengths and weaknesses. It enables

to plan, using projections, future financial performance for capital, asset, and credit

requirements to maximize the return on shareholders' investment. Successful finan-

cial management is the ability to effectively manage the financial resources of a

business enterprise.

Financial management in a small firm is different from that of a large corpora-

tion. One difference is that small firms do not have the opportunity to publicly sell

issues of stocks or bonds in order to raise funds like large corporations do. The owner-

manager of a small firm must rely primarily on trade credit, bank financing, lease fi-

nancing, and personal equity to finance the business.

On the other hand, many financial problems facing the small firm are very similar

to those of larger corporations. For example, the analysis required for a long-term



investment decision such as the purchase of heavy machinery or the evaluation of

lease-back alternatives, is essentially the same regardless of the size of the firm.

The main task of financial managers in both small firms and large corporations is

the effective management of working capital. Net working capital is defined as the

difference between current assets and current liabilities and is often called the ′circu-

lating capital′ of the business. Lack of control in this key area is a primary cause of

business failure in both small and large firms.

Eight of ten new businesses fail primarily because of the lack of good financial

planning. Financial planning affects how and on what terms you will be able to at-

tract the funding required to establish, maintain and expend your business. Finan-

cial planning determines the raw materials you can afford to buy, the products you

will be able to produce, and whether or not you will be able to market them effi-

ciently. Short-term planning is generally concerned with profit planning or budget-

ing. Long-term planning is generally strategic, setting goals for sales growth and

profitability over a minimum of three to five years. Financial planning affects the

human and physical resources you will be able to acquire to operate your business.

It will be a major determinant of whether or not your hard work will be profitable.

Financial statements record the performance of business and allow to diagnose

its strength and weakness by providing a written summary of financial activities.

There are two primary financial statements: the balance sheet and the statement of

income.

The balance sheet provides a picture of the financial health of a business at a

given moment, usually at a given close of an accounting period. It lists in detail

those material and intangible items the business owns (known as its assets) and

what money the business owes, either to its creditors (liabilities) or to its owners

(shareholders’ equity or net worth of the business).

The statement of income is a measurement of a company’s sales and expenses

over a specific period of time. It is also prepared at regular intervals (each month

and fiscal year end) to show the results of operating during those accounting pe-

riods. It contains specific revenue and expense categories regardless of the nature

of the business.




1. What is financial management?

2. What does financial management enable to do?

3. What is the main task of financial management?

4. What is net working capital?

5. How can you define the word ′planning′?

6. What does financial planning determine?

7. What does financial planning affect?

8. Short-term planning and long-term planning differ, don’t they? How?

9. How is a balance sheet used?

10. What is shown by the statement of income?

3. Agree or disagree. Give your reasons to each point.

1. Successful financial management is the ability to effectively manage the fi-

nancial resources of a business enterprise.

2. There is no any difference in financial management of a small firm and a

large corporation.

3. Many financial problems of small firms and large corporations are the same

regardless of the size of the firm.

4. New businesses fail primarily because of the lack of good financial manag-

ers.

5. Financial statement is a written summary of financial activities that allow to

diagnose the strengths and the weakness of business.

4. Make the following corresponding.

1) balance sheet a) отчет о доходах и расходах

2) business failure b) собственный капитал предприятия

3) credit requirements c) лизинговое финансирование

4) financial performance d) материальные ресурсы

5) financial statement e) оборотные средства

6) lease financial f) потребность в кредите



7) net worth g) финансовое состояние

8) physical resources h) балансовый отчет

9) statement of income i) финансовый отчет

10) working capital j) деловая несостоятельность


1. Собственный капитал предприятия – это стоимость имущества за выче-

том обязательств.

2. Оборотные средства включают обычно материалы, сырье, топливо,

энергию, расходы будущих периодов, а также денежную наличность, ценные

бумаги (securities), материально-производственные запасы (inventory) и дру-

гие составляющие.

3. Балансовый отчет – сводный отчет (обычно квартальный или годовой).

фиксирующий данные об активах, пассивах и чистой стоимости собственно-

го капитала фирмы на определенный период.

4. Финансовый отчет содержит, как правило, финансовый баланс компа-

нии за отчетный период и отчет о прибылях и убытках компании.

5. Активы – совокупность имущества и денежных средств, принадлежащих

фирме, в которые вложены средства владельцев, собственность, имеющая де-

нежную оценку. Пассивы – совокупность долгов и обязательств предприятия.

6. Comprise Text A.

7. Make up a plan of Text A. Write down key words to each point. Retell

the text.

Part 2. Money and its functions

Active vocabulary

medium of exchange – средство обращения

standard of value – мера стоимости

unit of account – единица учета



store of value – средство сбережения

standard of deferred payment – средство погашения долга.

monetary unit – денежная единица

relative cost – относительная стоимость

to quote price (for sth) – определить цену (на что-либо)

accounts – счета, расходы

interest-bearing account – счет, приносящий процентный доход

to pay interest – выплачивать проценты

purchasing power – покупательная способность, платежеспособность

to erode – ослаблять, уменьшать

to make a loan – взять ссуду

commodity money – товар-деньги

token money – счетные символические деньги; дензнаки

legal tender – законное платежное средство.

IOU (I owe you) – я вам должен (форма долговой расписки)

1. Scan through Text B and find out major types of money and its func-

tions.

2. Read Text B.

Text B

Money is a commodity commonly accepted as a medium of economic ex-

change. The main feature of money is its acceptance as the means of payment or

medium of exchange. Nevertheless, money has other functions. It is a standard of

value, a unit of account, a store of value and a standard of deferred payment.

As the medium of exchange, money is used in one-half of almost all exchange.

Workers work for money. People buy and sell goods in exchange for money. We

accept money not to consume it directly but because it can subsequently be used to

buy things we do wish to consume. Money is the medium through which people

exchange goods and services.



Money can also serve as a standard of value. Society considers it convenient to use a monetary unit to determine relative costs of different goods and services. In this function money appears as the unit of account, as the unit in which prices are quoted and accounts are kept.

To be accepted in exchange, money has to be a store of value. Money is a store of value because it can be used to make purchases in the future. Houses, ancient collections and interest-bearing bank accounts all serve as stores of value. Since money pays no interest and its real purchasing power is eroded by inflation, there are almost certainly better ways to store value.

Finally, money serves as a standard of deferred payment, the unit in which loans are made and future transactions are fixed.

There are different kinds of money. Golden coins are the examples of commod-ity money, because their gold content is a commodity. Token money is a means of payment whose value or purchasing power as money greatly exceeds its costs of production or value in uses other than as money. Society enforces the use of token money by making it legal tender. The law says it must be accepted as a means of payment. In modern economies, token money is supplemented by IOU money. This money is a medium of exchange based on the debt of a private firm or an in-dividual. A bank deposit is IOU money, because it is a debt of the bank. But it can be a medium of exchange because it is generally accepted as a payment.


1. What is money? Give your own definition. 2. Why do people accept money? 3. What are the main functions of money? 4. Why is money used as the medium of exchange? 5. When can money serve as a standard of value? 6. What do you understand under «the unit of account»? 7. Why is money a store of value? 8. When does money serve as a standard of deferred payment? 9. What kinds of money do you know? 10. What role does money play in your life? Give your reasons.



4. Fill in the gaps with the words and expressions from Text B.

1. The main … of money is its … as the means of … or medium of … . 2. We accept money not to … it directly but because it can subsequently be

used to … things we do … to consume. 3. Money appears as the unit of …, as the … in which … are quoted and …

are kept. 4. Since money pays no … and its real … power is eroded by …, there are

almost certainly better ways to … value. 5. Money serves as a standard of … payment, the unit in which … are made

and future … are fixed.

5. Explain the meaning of the following proverbs and idioms. Find their

Russian equivalents.

1. Time is money.

2. Money has no smell.

3. A penny saved is a penny earned.

4. Money to spare likes good care.

5. Money is the root of all evil.

6. To have money to burn.

7. You can kiss your money good-bye.

8. To keep money for a rainy day.

9. To make one’s money fly.

10. Not by money alone.

6. Give English equivalents to the following phrases.

Средство обращения; средство платежа; работать за деньги; в обмен на

деньги; мера стоимости; денежная единица; относительная стоимость; вести

счета; средство сбережения; платежеспособность; средство погашения долга;

деньги-товар; денежные знаки; я вам должен; банковский вклад; принимать в

качестве платежа.



Part 3. Banks and banking

Active vocabulary

financial services – финансовые операции

to accept deposits – принимать вклады

to derive a profit – извлекать прибыль, извлекать пользу

interest rates – процентные ставки

currency reserves – валютные запасы

to maintain the accounts – вести счета

lender – кредитор

demand and supply – спрос и предложение

to transfer money – переводить деньги

to draw a cheque – выписать чек

transaction – дело; сделка, соглашение

an overdraft – превышение кредита (в банке)

to withdraw money – отзывать деньги (из банка)

deposit account – депозит, депозитный счет; сберегательный счет

investment account – инвестиционный счет

fixed-term account – срочный счет (заключенный на определенный срок)

savings – сбережения

to provide credit – предоставлять кредит

monthly instalments – ежемесячные взносы

mortgage – ипотека

monthly statement of account – ежемесячная выписка со счета

standing order – постоянное поручение

to make an investment – инвестировать, вкладывать капиталы

direct debit – прямое дебетование

cash dispenser – банкомат

1. Scan through Text C and find out major types of banks and their func-

tions.



2. Read Text C, translate the underlined words and word-combinations.

Learn them.

Text С

When it comes to dealing with money, the banks provide a variety of services

essential to trade and to the economy of a country. Bank is an institution that deals

in money and its substitutes and provides other financial services. Banks accept

deposits and make loans and derive a profit from the difference in the interest

rates. They also have the power to create money. The two major types of banks are

central banks and commercial banks.

Central banks are the institutions which control the banking of the entire country;

they work together with the government to control the country’s economy. The cen-

tral bank of the United Kingdom is the Bank of England, in the USA it is the Federal

Reserve System, in single-currency Europe the European Central Bank, etc. Central

banks may be nationalized organizations and are subject to government control, but

some of them can have independence from governmental supervision.

The central bank has a number of different functions:

to issue banknotes and coins, the country’s currency; to maintain the country’s

foreign currency reserves;

to look after the country’s gold reserves and to make sure that the country’s

currency keeps its value;

to maintain the accounts of other banks and supervise their activities;

to act as bankers for the government, as the designers of monetary and credit

policies, and as lenders of last resort to commercial banks in the case of a financial

crisis;

to keep inflation under control. To stop inflation, the central bank needs to take

money out of circulation

Commercial banks are the public or private banks which people use for their everyday money matters. Commercial banks accept savings deposits, make loans

, for example by increasing interest rates (this makes borrow-

ing more expensive and means that fewer people will apply for credit), and by in-

creasing the amount of money which all banks have to deposit with the central bank.



and other investments, and offer financial services that facilitate the exchange of funds among individuals and institutions. In addition to profit derived from the dif-ference in the interest rates, commercial banks charge fees for various services. If you have a bank account, for example, it will be at a commercial bank.

There are three basic types of bank account. Current account. This type of account is used for everyday transactions such as

paying bills, transferring money and drawing cheques. You can have an overdraft

on this type of account (that means you can withdraw more money than you have

in the account, although you will have to pay interest for this service), but you

don’t usually receive interest on the money you pay in. short-term savings

Deposit account. This type of account may be used for short-term, small sav-

ings; the money paid in earns a small amount of interest. It is not possible to draw

cheques or have an overdraft on this type of account. But it is possible to transfer

money to it from a current account.

Investment account. Money paid into this type of account earns more interest,

but the customer has to inform the bank in advance when he wants to withdraw his

money. If it is a fixed-term account, he may not be able to withdraw the money for

a certain period agreed with the bank (e.g., five years). This type of account may

be used for larger, long-term savings.

Another function of the commercial banks is to provide credit, in the form of:

Overdrafts, where the customer can take out more money than he has in his ac-

count up to a certain limit agreed with the bank. He has to pay the money back

whenever requested by the bank, and he also has to pay a relatively high rate of in-

terest whenever he is overdrawn. For this reason, an overdraft is not the best option

for long-term borrowings

Credit cards such as Visa or American Express are used to buy goods without needing to pay for them immediately. The customer receives a monthly statement

.

A loan is cheaper if a large amount of money has to be borrowed over a longer

period. It is usually taken out for one item such as a car or a house, and is repaid in

monthly installments along with a fixed rate of interest. A loan used to buy a house

or land is called a mortgage.



and can either pay the entire amount in full (in which case no interest has to be paid) or in monthly installments (plus a fixed rate of interest

− standing order and direct debit facilities. According to standing order fa-cilities the same amount of money

). Other commercial bank services include:

is transferred

− advising their customers on making investments, for example in gold, property or shares.

from one account to another at regular intervals. For example, somebody might set up a standing order to pay the rent automatically every month. Direct debit facilities are used where a varying amount of money is transferred from one account to another at regular intervals. For example, somebody might set up direct debit facilities to pay his telephone bill automatically every month.

− providing cheques and carrying out cheque transactions; providing for-eign currency and traveller’s cheques.

− safe facilities for their customers to lock up valuable articles such as je-wellery or important documents.

− paying out cash (for example, from cash dispensers


1. What is a bank? 2. What are the functions of bank? 3. What do central banks control? 4. What are the functions of the central banks? 5. What are commercial banks? 6. What types of bank account do you know? 7. What forms of credit do commercial banks provide? 8. Why are commercial banks interested in providing credits? 9. How do customers pay the money back? 10. What commercial bank services do you know? Which of them have you

ever used?

) and accepting cash deposits.



4. Complete the sentences.

1. Major types of banks are … . 2. Central banks may be … organizations and are … to government …, but

some of them can have … from governmental … . 3. Commercial banks accept … …, make … and other …, and offer … services

that facilitate the …of funds among … and … . 4. Current account is used for everyday … such as paying …, … money and

… cheques. 5. Deposit … may be used for … , small … . 6. Money paid into … account earns more … , but the customer has to … the

bank in … when he wants to … his money. 7. Overdraft is the … of credit, where the customer can … out more … than he

has in his … up to a certain … agreed with the … . 8. A loan is usually … out for one item such as a … or a … , and is … in

monthly … along with a … rate of … . 9. Credit cards are … to buy … without … to … for them immediately.

10. Standing … and direct … facilities are used to … money (the same … or

a … amount) from one … to another at regular … .

5. Define the following words.

banking; credit cards; bank services; investments; cash dispensers.


1. Овердрафт – особая форма представления краткосрочного кредита кли-

енту банка в случае, когда величина платежа превышает остаток средств на

счете клиента. Право пользования овердрафтом предоставляется наиболее

надежным клиентам банка по договору, в котором устанавливается макси-

мальная сумма овердрафта, условия предоставления кредита по овердрафту и

порядок его погашения.

2. Кредит – это деньги или товар, предоставляемые кредитором заемщику

обычно на определенный срок на условиях возвратности с выплатой заемщиком



процента за пользование. Заем (ссуда), овердрафт, ипотека – это разновидно-

сти кредита

3. Постоянное поручение – это распоряжение, выданное клиентом банку,

выплачивать в указанный день определенную сумму денег (конкретному по-

лучателю платежа). В отличие от обычного постоянного поручения при пря-

мом дебетовании заранее не устанавливаются суммы, подлежащие выплате.

7. Comprise Text C.

8. Make up a plan of Text C. Write down key words to each point. Retell the text.

Part 4. Banking documents

Active vocabulary

commercial papers – оборотные кредитно-денежные документы unconditional – не ограниченный условиями, безоговорочный, безусловный order – распоряжение promise – обещание, обязательство draft – тратта, переводной вексель promissory note – простой вексель, долговое обязательство certificate of deposit – депозитный сертификат to draw – выписывать, получать drawee – трассат, вексеполучатель drawer – трассант; векселедатель payee – получатель платежа (по чеку или векселю) order cheque – ордерный чек bearer cheque – чек на предъявителя

open cheque – открытый чек

bill of exchange – вексель, тратта

to endorse – индоссировать, делать передаточную надпись sight draft – вексель до востребования, предъявительский вексель



term draft – срочный вексель to execute the note – оформлять (документ) to pledge – отдавать в залог, закладывать

1. Scan through the text and find out major types of commercial papers.

2. Read Text A.

Text A

Commercial paper is an unconditional written order or promise to pay money. Orders include drafts and cheques, promises comprise promissory notes and certif-icates of deposits.

A cheque is a customer’s written order to his bank to pay a certain amount to a cer-tain person or organization when requested. A cheque can only be drawn on a current account; furthermore, cheques aren’t legal tender – that means sellers are not obliged to accept cheques as payment. They are generally only used for domestic trade.

Parties to a cheque are the drawer, the drawee and the payee. The drawer is the person or organization that writes the cheque and gives it to the payee. The money is debited from his current account. The drawee is the drawer’s bank. The cheque is drawn on this bank. The payee is the person or organization that gets the money, either in cash from his bank or paid directly into his bank account.

Types of cheques

Order cheque Bearer cheque Open cheque Is payable only to the per-son whose name is written on it. To get the money he has to prove that he is the person needed and sign the back of the cheque in front of the cashier at his bank.

The words ′Pay .. or bear-

er′ are written on this cheque. Anybody holding (bearing) this cheque can get the money; it doesn’t have to be endorsed

It doesn’t have to be paid into the bank account; the payee can present it to the bank and receive cash in return.



A draft (also known as a bill of exchange) is an unconditional order from one

person to another to pay a certain amount at a certain time. The usual purpose of a

draft is to collect money owed. A draft initially involves three parties – the drawer,

the drawee and the payee. The money can be paid either to the person who gave

the unconditional order or to a third party. A draft (bills of exchange) can be used

for either domestic or foreign trade.

Each draft (bill of exchange) belongs to a certain category, depending on the

time at which it has to be paid.

Sight draft (bill) Time draft (bill)

Includes the words ′Pay at sight′.

The drawee has to pay as soon as

the draft is presented (as soon as

he sees it).

Is payable at a fixed or determinable future

time.

a term draft a date draft

payable a certain

number of days after it

is presented to the

drawee

E.g. ′Pay at 90 days

after sight′.

payable a certain

number of days after it

was drawn

E.g. ′Pay at 60 days′.

A promissory note is an unconditional written promise by one person to pay to

the order of another person or to the bearer a certain sum of money on demand or

at a definite time. Promissory notes initially involve only two parties – the maker

and the payee. The maker is the one who executes or makes a promissory note (or

a certificate of deposit) and promises to pay. Personal property may be pledged to

secure performance – that is to ensure payment of a note.

A certificate of deposit is a written acknowledgment by a bank of receipt of

money, with an unconditional promise to repay it. The stated amount is payable

with interest at a definite future time, normally ranging from several months to

several years. A certificate of deposit is often called a C/D.




1. How can commercial papers be grouped?

2. What is a cheque?

3. What types of cheques are there?

4. What parties to a cheque do you know?

5. What is the purpose of a draft? 6. What does the category of a draft depend on? 7. How do cheques and drafts differ? 8. What kinds of promises do you know? 9. What is a promissory note used for? 10. What is a certificate of deposit?

4. Agree or disagree. Give your reasons.

1. Sellers are not obliged to accept cheques as payment. 2. A bill of exchange is an unconditional order from one person to another to

pay a certain amount at a certain time. 3. A draft can be used for domestic trade. 4. Promissory notes involve two parties – the maker and the payee. 5. A certificate of deposit is payable with interest. 5. Complete the sentences. 1. Orders include … and …, promises comprise … notes and certificates of …. 2. A cheque can only be … on a … account; furthermore, … aren’t … tender. 3. The drawer is the … or … that writes the … and gives it to the payee. The …

is the drawer’s bank. 4. There are … categories of … – … draft and … draft. 5. The maker is the one who … or makes a promissory … (or a … of deposit)

and … to pay.

6. Match the words with the definitions.

1. commercial paper

2. a draft

3. the drawer

a) the person or organization that writes the che-

que and gives it to the payee

b) the person or organization that gets the money



4. the drawee

5. the payee

c) a bill of exchange which hasn’t yet been ac-

cepted

d) an unconditional written order or promise to

pay money

e) the drawer’s bank.


1. Переводной вексель содержит письменный приказ векселедателя (трас-

санта) плательщику по векселю (трассату) оплатить векселедержателю указан-

ную в векселе сумму в определенный срок. Плательщик становится обязанным

лицом только после акцепта (подтверждение согласия оплатить векселя).

2. Простой вексель удостоверяет обязательство заемщика (векселедателя)

уплатить заимодавцу (векселедержателю) положенный к возврату долг в ого-

воренный срок. Простой вексель отличается от переводного векселя (тратты)

тем, что в нем участвуют только двое – подписчик (являющийся одновре-

менно и трассантом, и трассатом) и получатель.

3. Срочный вексель оплачивается в конце обусловленного периода, а век-

сель до востребования оплачивается при предъявлении.

4. Долговое обязательство является документальным подтверждением

факта получения денег в долг и обязанности их возврата. Долговое обяза-

тельство выдается заемщиком (берущим деньги в долг) кредитору.

5. Депозитные сертификаты – это ценные бумаги в виде письменных сви-

детельств банка, удостоверяющие сумму вклада, внесенного в банк, и права

юридического лица-держателя сертификата на получение по истечении уста-

новленного срока обратно полной суммы вклада и оговоренных в сертифика-

те процентов в банке.

8. Make up a plan of Text A. Write down key words to each point. Retell

the text.



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