Text: Types of Business Ownership Teaching Aim 1. Learn
something about Business Ownership; 2. Talk something about the
features of three main types of business ownership Important Points
1. Comprehend the meaning of the text; 2. Get familiar with the key
words or phrases:
Slide 3
proprietorship corporation debt legal formality specify
dissolve withdrawal dividend conglomerate assets (pl.) , utility
offset start with . . close down
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run out of consist of . , in most cases be liable for account
for be subject to , have an advantage over , go into debt , no more
than in the extent of , be considered as .
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Difficult Points Answer the questions about features of
different types of ownership orally; There are many new words in
the text; Translate some difficult sentences of the text into
Chinese.
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Teaching Methods 1. Discussing and summarizing the main idea
about the text; 2. Memorizing the new words; 3. Explaining the
difficult words or sentences and making some examples.
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Procedure 1. Warm-up; 2. Text diving: The first part (Paragraph
14 )of the text: new words---text---questions; The second part
(Paragraph 510 ) of the text: new words--- text---questions; 3. Sum
up and assign homework.
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Homework 1. On Exercise-Book: Copy some new words about one
page tidily; 2. Read the new words correctly and read the text
fluently; 3. Do the exercises Time 90 minutes
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Warming-up Work with your partner and write down businesses
which belong to different types of ownership. Public Ownership:
Railroad , Telecommunication service post office , Television radio
station , Electric power industry , Journalism publisher / , Air
transport industry Banking , Oil company , Stock market , Mixed
(Public or Private) Ownership: Restaurant , Retail business , Hotel
, Travel agency , Department store , Food manufacturer ,
Supermarket , Advertising agency , Repair service .
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Public ownershipMixed (private or public) ownership
RailroadRestaurant Telecommunication service/ post office Retail
business Television/radio stationHotel Electric power
industryTravel agency Journalism/publisherDepartment store
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Pair work: 1) What is ownership? (Ownership is the state or
fact of exclusive possession or control of something, which may be
an object or some kind of property.) 2) Could you name some types
of ownership existing in China today? (Ownership existing in China:
state-owned private ownership public ownership individual ownership
collective ownership joint venture foreign enterprise...)
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3) Which ownership plays a leading role in Chinas national
economy? (State-owned enterprise) 4) Do you think it important to
diversify ownership in China? 5) What changes are taking place in
China as far as ownership is concerned?
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Before the introduction of the policies of reform and opening
to the outside world China had a unitary public ownership economy
which lacked vitality. But since the reform and opening to the
outside world the Chinese government has encouraged the development
of diversified economic elements while insisting on the primacy of
public ownership. As a result both the individual and private
economies have developed rapidly.
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By the end of 1998 the registered industrial and commercial
enterprises of individual and private ownership amounted to 32.4
million and they had 78.24 million employees; Chineseforeign joint
ventures Chinese-foreign cooperative enterprises and foreign
ventures numbered 325,000 absorbing 265.6 billion yuan of foreign
direct investments. The development and expansion of these
enterprises have played important roles in many aspects such as
bringing convenience to peoples everyday lives making up for the
deficiency of construction funds and introducing advanced
technologies and management from abroad. At the same time the
control of the publicownership economy has been further
strengthened.
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In 1999 the increased value of state- owned enterprises and
industrial enterprises above a certain scale made up 24.7 percent
of the nations total gross domestic. Now the mutual development
pattern for diversified ownership with the public ownership economy
as the mainstay has been basically formed.
Part Two: 10 minutes Structure of Reading I Part I (Paragraph
1) There are three main types of business ownership in the
USAsingle proprietorships, partnerships, and corporations. Part II
(Paragraph 2) Explanation of single proprietorshipsadvantages and
disadvantages. Part III (Paragraph 3-4) Explanation of
partnershipsadvantages and disadvantages. Part IV (Paragraph 5-10)
Explanation of corporations:
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1) Advantages and disadvantages. 2) Classification. a.
Introduction: How many separate types of corporations? Corporations
may be considered as three separate typessmall corporations, giant
corporations, and conglomerates. b. Discussion of small
corporations. c. Discussion of giant corporations. d. Discussion of
conglomerates.
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1. Key Language Points 1. proprietorship: n. ownership e.g. A
sole proprietorship essentially means a person does business in
his/her own name and there is only one owner. [ ] proprietor /
proprietress n. an owner of a business, an invention etc. e.g.
newspaper proprietors Ive written a complaint to the proprietor of
the hotel.
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2. corporation: n. a body of people permitted by law to act as
a single person for purpose of business e.g. Mary works for a large
American corporation. Mary a multinational corporation the British
Broadcasting Corporation [ ] corporate 1) adj. collective e.g.
corporate responsibility 2) adj. of or belong to a corporation e.g.
corporate image corporate culture
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3. debt: 1) n. something owed to someone else e.g. a debt of
100 Yuan pay ones debt 2) n. the state of owing; the duty of
repaying something e.g. We owe you a debt of gratitude for your
help.
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[ ] out of/in debt / run into debt e.g. Im heavily in debt at
the moment, but hope to be out of debt when I get paid. If we spend
more than our income well run into debt. [ ] national debt bad debt
debtor nations
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4. legal: 1) adj. allowed or made by law e.g. Dont worry, its
quite legal! Schooling is a legal requirement for children over
five years old in Britain. 2) adj. of or using the law e.g. take
legal action
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[ ] legality n. e.g. I would question the legality of the
governments decision. [ ]legalize vt. e.g. Will the government
legalize cannabis ( )? [ ] legal aid legal tender legal person
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5. formality: 1) n. an act in accordance with law or custom
e.g. There are a few formalities to go through before you enter a
foreign country, such as showing your passport. 2) n. an act like
this that has lost its real meaning e.g. The written part of the
exam is just a formality; no one ever fails it.
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6 liable: adj. 1 held legally responsible 2) (often followed by
to) likely to be affected with . [ ] be liable for: to be
responsible for e.g. They are liable for income tax at a higher
rate. He declared that he was not liable for his wifes debts. I am
not liable for other people's debts.
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7. specify: v. to state something in an exact and detailed way
; e.g. I specified blue for the bedroom walls, but the decorators
have painted them white. The directions specify how the medicine is
to be used. [ ] specific adj. detailed and exact; clear in meaning
e.g. specific gravity You say your company is in England; can you
be a bit more specific? She gave us very specific
instructions.
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[ ]specification n. a detailed plan or set of descriptions or
directions e.g. The new missile has been built according to strict
government specifications. The designer drew up his specifications
for the new car.
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8. dissolve: 1) vi/vt. to cause (an association group, etc.) to
end or break up e.g. The Queen dissolved Parliament. They dissolved
their partnerships. 2) vi./vt. to make or become liquid by putting
into liquid ( ) e.g. Sugar dissolves in water. Dissolve the tablet
in warm water. 3) vi. to disappear; fade away e.g. Opposition to
the idea gradually dissolved. The vision dissolved before her
eyes.
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9. withdrawal: n. taking out of e.g. Hes made several
withdrawals from his account recently. a gradual withdrawal of
troops from the war zone withdrawal of financial support
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[ ] withdraw 1) vt. to take away or take back e.g. She withdrew
500 Yuan from her bank account. 500 The drug, which is suspected of
having serious side effects, has been withdrawn from the market. 2)
vi/vt. to (cause to) move away or move back e.g. The two men
withdrew from the room while the meeting voted for which should be
chairman. 2 The general withdrew his army as it was suffering so
many casualties
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10. dividend: n. periodical payment of interests on shares to
shareholders in a business company e.g. The company declared a
large dividend at the end of the year.
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11. range: 1) n. , , , , e.g. What is the range of this
telescope? ? The range of this plant is East Asia. The library has
ranges of books in perfect order. 2) v. , ... e.g. They were ranged
against us. The cards were ranged in alphabetical order. 3) v. e.g.
Their ages range from 25 to 50. 25 50 .
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12. differ: 1) v. , e.g. Thats where we differ. Our tastes
differ from each other. 2) v. e.g. Japanese differs greatly from
French in pronunciation. His opinion differs entirely from mine. We
differ about [on] the matter [question]. ( ) Customs differ in
different countries. [ ] differ from sth. differ with sb. differ
in
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13. conglomerate: n. a large business firm that controls the
production of goods of very different kinds e.g. a multinational
conglomerate
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14. define: e.g. Reason defines man. define sb.'s duties define
one's position [ ] definition n.
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15. asset: n. the total property, money, etc. that may be sold
to pay a debt [ ] liquid assets fixed assets return on asset
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16. represent: 1) vi. , , 2) vt. , 3) vt. ; ; e.g. They said
that they represented the committee. The dove represents peace.
represent a play
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17. utility: 1) n. public service such as the supply of water,
electricity, gas, etc. 2) n. the degree of usefulness e.g. a
research project with limited practical utility [ ] utilize vt. to
make good use of e.g. It is to be hoped that in her new job her
talents will be better utilized than before.
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18. offset: vt. to make up for e.g. That will offset the lost.
Domestic losses were offset by developing foreign markets.
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19. start with: to begin something in a particular way, or to
begin in a particular way e.g. The festivities started with a huge
fireworks display. They usually start dinner with soup.
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20. close down: to cause to stop operation e.g. The government
plans to close down 10 coal mines. 10 Small shops are closing down
because of fierce competition.
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21. run out of: to use all ones supplies; have no more e.g. Can
you give me a cigarette? Sorry, Ive run out. Im afraid weve run out
of petrol. Im running out of patience.
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22. consist of: to be made up of e.g. The United Kingdom of
Britain consists of Great Britain and Northern Island. China
consists of 23 provinces and several autonomous regions. 23 This
book consists of five chapters. 5
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23. in case(s): in occasion/situation e.g. They may not offer
me much money. In that case, I wont take the job. Im not supposed
to let anyone in, but Ill make an exception in your case. In most
cases, he would arrive at school on time. They had the choice to
comply with the conditions, in which case the bombing would have
stopped.
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24. account for: 1) to amount to; to make up ; e.g. North Sea
oil accounts for a high proportion of our export earnings. Boys
account for 40% in the class 40% 2) to give or be a satisfactory
explanation for e.g. How do you account for losing five chances? 5
They cant account for the fact that the stolen bag was at their
home.
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25. be subject to: 1) governed by or dependent on e.g. All such
gatherings are subject to the laws on political meetings. The plans
are subject to ministerial approval. All building firms are subject
to tight controls. 2) tending or likely (to have) e.g. Hes subject
to ill health. (=often becomes ill) The arrangements are subject to
change (=may be changed) at short notice. All train times are
subject to change in bad weather conditions.
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26. have an advantage over: to have a better position or
opportunity e.g. Henry had the advantage over the rest of the staff
of being able to speak Chinese. Tom takes the advantage his
education has given him over other young people who have not been
to a university. His speed and strength gave him an advantage over
the other football players.
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27. go into debt: to reach a point where one owes money e.g. He
went into debt when he bought his apartment on loan. They report
that years ago, people went into debt only for large purchases or
made installment payments on appliances at department stores. After
her husband went into debt and left her a widow, Mrs. Smith was
left with nothing.
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28. no more than: only in no greater degree than ; e.g. South
Korea sent no more than 3,000 troops to Iraq. No more than five
people applied for this job. You should spend no more than 20
minutes on this task and write at least 150 words. He spent very
little time at school, perhaps no more than a year in all.
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29. vary in (size etc.): in is often used after vary to
indicate the aspect of variation e.g. The florist sells flowers
that vary in color and size The samples varied in quality but were
generally acceptable.
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30. in the extent of: within the limits of e.g.The geography of
the Caribbean plays a large role in the extent of damage done by
tropical cyclones. The amount of sea ice is affected by both air
and ocean temperatures, and scientists believe that changes in the
extent of sea ice reflect global climate changes.
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31. range from something to something to include a variety of
different things or people e.g. The show had a massive audience,
ranging from children to grandparents. His expression ranges from a
painful grimace to a slight smile. The five men are serving prison
sentences ranging from 35 to 105 years.
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32. be considered as: to be regarded as / e.g. He was
considered as a renowned professor internationally. If you wish to
be considered as a possible candidate for inclusion in these
studies we invite you to fill out our questionnaire. Spiders are
considered as medically important.
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2. Review by asking some questions: Questions: 1).How many
types of business ownership are there in the USA? What are they?
The key comes from Paragraph 1: There are three main types of
business ownership in the United States. They are : single
proprietorships, partnerships, and corporations. ..
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2). How many single proprietorships, partnerships, and
corporations exist in the USA? The key comes from Paragraph 1: The
nation has about 15 million single proprietorships, 1.5 million
partnerships, and 4 million corporations
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3). Who makes all decisions and receives all profits in single
proprietorships? The key comes from Paragraph 2: The owner makes
all decisions and receives all profits in single
proprietorships
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4). What may happen to a single- proprietorship business if the
owner dies or runs out of money? The business will close down if
the owner dies or runs out of capital.
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5). What is the advantage of partnerships over single
proprietorships? The key comes from Paragraph 4: Most partners
together can raise more capital and handle more business than a
single proprietor.
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6). In what way can a partnership business break up? The key
comes from Paragraph 4: A partnership can be dissolved by mutual
agreement or by the withdrawal of any of the partners.
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7). What may be required when certain major decisions that
affect business operations are being made in a corporation? The key
comes from Paragraph 5: The approval of a majority of the
stockholders may be required for certain major decisions that
affect business operations.
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8). Why is a corporation more difficult to establish and
operate than the other two forms of business ownership? The key
comes from Paragraph 6: Firstly, People who want to establish a
corporation must meet many legal requirements of the federal,
state, and local governments. Secondly, The decisions of a
corporation are also subject to the approval of both the
stockholders and the managers.
Slide 63
9).Who in fact runs the everyday activities of a corporation?
The key comes from Paragraph 5: Professional managers actually run
the everyday activities of a corporation.
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10). what is the main purpose of forming conglomerates? The key
comes from Paragraph 10: Many conglomerates are formed to protect
total sales from changes in the economy or in consumer demand.
Slide 65
Part Four: 5 minutes 1. Sum up the general meaning about the
text and review the new words on Page 36- 39 by reading; 2. Order
homework: 1) Read the new words correctly and read the text
repeatedly; 2) Do the exercises
