新编商务英语精读第2册课件2

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1、UNITl Teaching Aiml Reading Il Reading IIl Extended ActivitiesTeaching AimUnit 2 Ownership1. Cognitive Information（认知信息): Business Ownership2. Language Focus（内容重点) Key Words:. proprietorship, corporation, debt, legal, formality, specify, dissolve, withdrawal, dividend, conglomerate, assets, utility,

2、 offset;. productive, resources, enable, input, output, earnings, maximum profit, motive, executive, boost, discount, bonus, monopoly, regulationTeaching Aim Phrases: . start with， close down， run out of, consist of, in most cases, be liable for, account for, be subject to, have advantages over, go

3、into debt, no more than, in the extent of, be considered as;. amount of, base on, be dissatisfied with, compete for Word Study: differ, define, dominate, extend, represent Useful Structures: vary in (size .) range from . to in the form of get sth. done Grammar: Passive Voice of VerbsUnit 2 Ownership

4、Teaching Aim3. Communicative Skills（交际技能) Expressions: Expressions of “Asking or Offering favors” Reading: A Journalist Article4. Lexical Knowledge（词汇学知识)： suffixes: ness, ship, hood, tion / sion, mentUnit 2 OwnershipReading IUnit 2 Ownership Background Information Pre-reading Text New Words and Exp

5、ressions Exercises Post-readingUNITPre-readingUnit 2 Ownership Pre-reading I Pre-reading IIUnit 2 OwnershipPre-reading IBrainstorming: Work with your partner and write down businesses which belong to different types of ownership.Public Ownership Mixed (Public or Private) OwnershipRailroadRestaurantT

6、elecommunication service / post office Television / radio station Electric power industry Journalism / publisher Air transport industryBankingOil companyStock market Retail businessHotelTravel agencyDepartment store Food manufacturerSupermarket Advertising agency Repair serviceUnit 2 OwnershipPre-re

7、ading IIPairwork: Discuss the following questions with your partner.1. What is ownership?2. Could you name some types of ownership existing in China today?3. Which ownership plays a leading role in Chinas national economy?4. Do you think it important to diversify ownership in China?5. What changes a

8、re taking place in China as far as ownership is concerned?TextUnit 2 OwnershipTypes of Business Ownership1. There are three main types of business ownership in the United States: (1) single proprietorships, (2) partnerships, and (3) corporations. The nation has about 15 million single proprietorship

9、s, 1.5 million partnerships, and 4 million corporations.TextUnit 2 Ownership2 Single proprietorships are businesses owned and operated by one person. The owner makes all decisions and receives all profits. He or she is legally responsible for any business debts. Proprietors can start a business with

10、 a small amount of capital and few legal formalities. Many single proprietorships are small stores or such service enterprises as beauty parlors and repair shops. Single proprietorships are the most common form of business ownership in farming, construction, and many other industries. Most of these

11、businesses close down if the owner dies or runs out of capital.TextUnit 2 Ownership3 Partnerships consist of two or more owners who share the responsibilities and profits of a business. In most cases, each partner is liable for all business debts.TextUnit 2 Ownership4 Partners may sign a legal agree

12、ment that specifies the amount of work and capital each person contributes and the percentage of profits each receives. Most partners together can raise more capital and handle more business than a single proprietor. However, nearly all partnerships are small businesses. They are most common in law,

13、 medicine, real estate, and retailing. A partnership can be dissolved by mutual agreement or by the withdrawal of any of the partners.TextUnit 2 Ownership5 Corporations are owned by stockholders, who have shares of stock in these companies. The approval of a majority of the stockholders may be requi

14、red for certain major decisions that affect business operations. However, professional managers actually run the everyday activities of a corporation. Profits may be distributed among the stockholders as dividends or reinvested in the corporation. Most corporations are larger than businesses owned b

15、y individuals or partners. Corporations account for about three-fourths of all business income produced in the United States.TextUnit 2 Ownership6 A corporation is more difficult to establish and operate than a single proprietorship or a partnership. For example, people who want to establish a corpo

16、ration must meet many legal requirements of the federal, state, and local governments. The decisions of a corporation are also subject to the approval of both the stockholders and the managers. However, corporations have three chief advantages over other types of business ownership. First, large amo

17、unts of capital can be raised through the sale of stock. Second, the owners that is, the stockholders have limited liability. If the corporation goes into debt, they can lose no more than their investment. And third, business operations are not affected by an owners death or withdrawal from the comp

18、any.TextUnit 2 Ownership7 Corporations vary tremendously in size and in the extent of their business activities. The firms range from small companies whose products or services reach only a few consumers to huge organizations that produce most of the goods and services in a particular field. Corpora

19、tions at the two extremes of size differ so greatly that they may be considered as separate types of corporations. A third type is a conglomerate that is, a giant corporation that controls many smaller companies producing different and usually unrelated goods and services.TextUnit 2 Ownership8 Small

20、 corporations are generally defined as those with assets of less than $100,000. About 2.25 million corporations, or about 58 percent of all US corporations, are in this group. However, small corporations control less than one-half of 1 percent of the total corporate assets in the United States.TextU

21、nit 2 Ownership9 Giant corporations have assets greater than $250 million. They represent only about two-tenths of 1 percent of the corporations in the United States. But these corporations control more than 80 percent of the countrys corporate assets. They dominate such industries as banking, insur

22、ance, petroleum, public utilities, and transportation. Some of their operations extend around the world. A corporation of this size controls more productive resources than many countries do.TextUnit 2 Ownership10 Conglomerates own a number of companies and mostly operate in unrelated industries. Man

23、y conglomerates are formed to protect total sales from changes in the economy or in consumer demand. For example, if the member companies differ sufficiently in their activities, the conglomerate can usually offset losses in some of its operations with profits in others.Unit 2 OwnershipBackground In

24、formation1. Ownership overviewOwnership is the state or fact of exclusive possession or control of something, which may be an object or some kind of property. Ownership is self-propagating: If an object is owned by someone, any additional goods produced by using that object will also be owned by the

25、 same person. Thus, the more a person can own or acquire through money, the more he or she will generate other things to be owned by him or her. Ownership is central to and facilitates the development of social systems. Unit 2 OwnershipBackground Information1) Corporate Ownership In business, corpor

26、ate ownership is critical as it determines who controls the factors of production owned by that corporation and thus who owns the outputs. Companies or organizations usually own factories, or more generally, the capital, and the materials used to produce. They hire employees but they dont own employ

27、ees they do however control what is sometimes called human capital or have some exclusive right to individual capital (creativity, talent). Companies that issue stocks are officially owned by stockholders, and CEOs are hired by them to run the companies. CEOs themselves do not own the companies, eve

28、n though they may have more control and involvement than the “real” owners, the stockholders. Executives of small companies are often also stockholders. Whether they make major decisions like mergers (合并), or whether they hold actual stock, line management makes daily decisions, and may not be direc

29、tly answerable to the “real” owners.Unit 2 OwnershipBackground Information2) Intellectual Ownership Ownership of ideas or plans or strictly sensory works is always a complicated issue. Use of patents and copyright laws in modern society has introduced ownership for non-material things usually on a t

30、emporary basis. This is a mixed blessing, providing reward to innovators, but also greatly restricting the free flow of ideas and information (a fact which, according to some critics, will hurt innovation in the long run). Unit 2 OwnershipBackground Information2. Forms of business ownershipOne of th

31、e first decisions that you will have to make as a business owner is how the company should be structured. In making a choice, you will take into account the following： Your vision regarding the size and nature of your business. The level of control you wish to have. The level of “structure” you are

32、willing to deal with. The businesss vulnerability to lawsuits. Tax implications of the different ownership structures. Expected profit (or loss) of the business. Whether or not you need to re-invest earnings into the business. Your need for access to cash out of the business for yourself. Unit 2 Own

33、ershipBackground Information1) Sole or Single Proprietorships （独家所有经营（独家所有经营)The vast majority of small businesses start out as sole proprietorships. These firms are owned by one person, usually the individual who has day-to-day responsibility for running the business. Sole proprietors own all the a

34、ssets of the business and the profits generated by it. They also assume complete responsibility for any of its liabilities or debts. In the eyes of the law and the public, you are one in the same with the business.Unit 2 OwnershipBackground InformationAdvantages of a Sole Proprietorship It is the ea

35、siest and least expensive form of ownership to organize. Sole proprietors are in complete control, and within the parameters of the law, may make decisions as they see fit. Sole proprietors receive all income generated by the business to keep or reinvest. Profits from the business flow through direc

36、tly to the owners personal tax return. The business is easy to dissolve, if desired. Unit 2 OwnershipBackground InformationDisadvantages of a Sole Proprietorship Sole proprietors have unlimited liability and are legally responsible for all debts against the business. Their business and personal asse

37、ts are at risk. Sole proprietors may be at a disadvantage in raising funds and are often limited to using funds from personal savings or consumer loans. Sole proprietors may have a hard time attracting high-caliber employees, or those that are motivated by the opportunity to own a part of the busine

38、ss. Unit 2 OwnershipBackground Information2) Partnerships （合伙经营（合伙经营)In a Partnership, two or more people share ownership of a single business. Like proprietorships, the law does not distinguish between the business and its owners. The Partners should have a legal agreement that sets forth how decis

39、ions will be made, profits will be shared, disputes will be resolved, how future partners will be admitted to the partnership, how partners can be bought out, or what steps will be taken to dissolve the partnership when needed. Its hard to think about a “break-up” when the business is just getting s

40、tarted, but many partnerships split up at crisis times and unless there is a defined process, there will be even greater problems. They also must decide in advance how much time and capital each will contribute, etc. Unit 2 OwnershipBackground InformationAdvantages of a Partnership Partnerships are

41、relatively easy to establish; however time should be invested in developing the partnership agreement. With more than one owner, the ability to raise funds may be increased. Prospective employees may be attracted to the business if given the incentive to become a partner. The business usually will b

42、enefit from partners who have complementary skills. Unit 2 OwnershipBackground InformationDisadvantages of a Partnership Partners are jointly and individually liable for the actions of the other partners. Profits must be shared with others. Since decisions are shared, disagreements can occur. Some e

43、mployee benefits are not deductible from business income on tax returns. The partnership may have a limited life; it may end upon the withdrawal or death of a partner. Unit 2 OwnershipBackground Information3) Corporations （股份（股份)A corporation is considered by law to be a unique entity, separate and

44、apart from those who own it. A corporation can be taxed; it can be sued; it can enter into contractual agreements. The owners of a corporation are its shareholders. The shareholders elect a board of directors to oversee the major policies and decisions. The corporation has a life of its own and does

45、 not dissolve when ownership changes. Unit 2 OwnershipBackground InformationAdvantages of a Corporation Shareholders have limited liability for the corporations debts or judgments against the corporations. Generally, shareholders can only be held accountable for their investment in stock of the comp

46、any. Corporations can raise additional funds through the sale of stock. A corporation may deduct the cost of benefits it provides to officers and employees. Unit 2 OwnershipBackground Information Disadvantages of a Corporation The process of incorporation requires more time and money than other form

47、s of organization. Corporations are monitored by federal, state and some local agencies, and as a result may have more paperwork to comply with regulations. Incorporating may result in higher overall taxes. Dividends paid to shareholders are not deductible from business income, thus this income can

48、be taxed twice. Unit 2 OwnershipBackground Information 3. Foreign related business structures in ChinaThe current Chinese law recognizes three types of business entities that have foreign interest. These are as follows： Type 1: A Foreign Representative OfficeThis was the earliest and for a time the

49、predominant form of foreign related entity that was / is allowed to do business in China. A foreign representative office, also called Rep office as it is commonly called, can only perform liaison work between the foreign parent and local businesses. A Rep office cannot generate revenue in China and

50、 cannot sign or enter into any types of revenue generating contracts with local businesses. It is solely a communications vehicle that helps its parent company to do business with Chinese clients. Unit 2 OwnershipBackground InformationAdvantage: Its easy to establish, visible and looks good. Disadva

51、ntage: It cannot operate as a revenue-generating business, and can be expensive and has negative tax consequences. Unit 2 OwnershipBackground InformationType 2: A Joint Venture (JV) CompanyThis used to be the predominant business vehicle for foreign companies. The foreign company provides the produc

52、t, the money and sometimes the management expertise, the Chinese company provides the local connections necessary for government approval and local market expertise and the two companies split any profits. In China, a JV is a recognized corporate entity, which is a partnership between the foreign in

53、vestor and the local Chinese partner. However, the JV is a corporate entity and not a partnership in the western legal sense. A JV can conduct business in China like any other business although there are certain industries that only permit 100% Chinese companies. With Chinas entry into the World Tra

54、de Organization (WTO), the country is becoming more and more open to foreign businesses. A JV can enter into a vast majority of Chinese industries. Unit 2 OwnershipBackground InformationAdvantage: It gains immediate market entry with local market expertise and understanding of local practice and req

55、uirements.Disadvantage: It has the shared decision-making power, which sometimes resulted in conflict, delay or confusion. Frequently, it has less efficient use of resources and is slow in decision-making. Unit 2 OwnershipBackground InformationType 3: A Wholly Foreign Owned Enterprise (WFOE)A WFOE i

56、s a 100 percent wholly owned foreign subsidiary that does business in China. This is becoming increasingly the vehicle of choice for foreign direct investment in China. The WFOE is a registered local company but its difference from other local companies is its 100% foreign ownership. Advantage： It h

57、as the absolute decision-making power, and can be quicker in decision making. It has more control over company operations and use more of western business customs. Most important, there is no sharing of profits. Disadvantage： It lacks local knowledge, and has less local government connections, so it

58、 has less ability to influence government permit, tax and other decisions. This can be mitigated by using expert assistance, hiring qualified local managers and building a quality staff. Unit 2 OwnershipNew Words and Expressions New words and Expressions Notes Language and Culture FocusNew words and

59、 ExpressionsUnit 2 Ownership1. proprietorship n. ownership 所有权2. corporation n. a body of people permitted by law to act as a single person for purpose of business (有限)公司3. debt n. money you owe to somebody 债4. legal a. in accordance with the law 合法的5. formality n. an act in accordance with the law

60、or custom 正式手续 New words and ExpressionsUnit 2 Ownership6. liable a. responsible according to law 有责任的 liability: n. the state of being liable 责任7. specify v. to state something in an exact and detailed way详细说明; 具体说明8. dissolve v. to bring sth. to an end 解散9. withdrawal n. taking (money) out of (a b

61、ank) 取(钱)10. stockholder n. (US) one who owns stocks of a business; shareholder (UK) 股东11. dividend n. periodical payment of interests on shares to shareholders in a business company 红利Unit 2 OwnershipNew Words and Expressions12. federal a. based upon a political system in which a union of states re

62、tains powers of government over some internal affairs 联邦的13. range v. (from) vary between limits （在一定范围内)变动14. differ v. to be unlike 与不同15. conglomerate n. a large business firm that controls the production of goods of very different kinds 企业集团16. define v. to give the meaning of something 解释 Unit

63、2 OwnershipNew Words and Expressions17. assets n. the total property, money, etc. that may be sold to pay a debt 资产18. representv. to make up; amount to 达到19. dominatev. to have control (over) 支配；控制20. banking n. the business of a bank or a banker 银行业21. petroleum n. a mineral oil obtained from belo

64、w the surface of the earth, and used to produce gasoline and various chemical substances 石油Unit 2 OwnershipNew Words and Expressions22. utility n. public service such as the supply of water, electricity, gas, etc. 公用事业23. offset v. to make up for 抵消Unit 2 OwnershipNew Words and Expressions1. start w

65、ithto haveas a beginning or at the beginning 以开始；以着手2. close downto cause to stop operation 倒闭3. run out ofto have no more of something 用完4. consist ofto be made up of 由构成5. in most casesnearly always 多数情况下6. be liable forto be responsible for 为负责7. account for to amount to; to make up 达到; 占8. have

66、an advantage overto have a better position or opportunity. 对具有优势Unit 2 OwnershipNew Words and Expressions9. go into debtto haveas a beginning or at the beginning 以开始；以着手10. no more than only; in no greater degree than 仅仅; 不过11. in the extent of within the limits of 在范围内12. be considered asto be rega

67、rded as 被认为13. be defined as to be explained precisely as 被解释为NotesUnit 2 Ownership1. service enterprises: enterprises range from banking, telecommunications to the provision of meals in restaurants. The enterprises provide or sell service rather than make products.2. beauty parlor: a shop where hai

68、rdressing, facials, and manicures are done.3. limited liability: responsibility limited by a contract. Corporations enjoy limited liability, so that investors risk only the amount of their investment and not their entire assets.4. total corporate assets: the entire assets belonging to the corporatio

69、ns in the nation.Unit 2 OwnershipExercises Exercise I Exercise II Exercise III Exercise IV Exercise V Exercise VIExercise IUnit 2 OwnershipI. Read the text carefully again and discuss the following questions.1. How many types of business ownership are there in the USA? What are they?2. How many sing

70、le proprietorships, partnerships, and corporations exist in the USA?3. Who makes all decisions and receives all profits in single proprietorships?4. What may happen to a single-proprietorship business if the owner dies or runs out of money?5. What is the advantage of partnerships over single proprie

71、torships?6. In what way can a partnership business break up?7. What may be required when certain major decisions that affect business operations are being made in a corporation?8. Why is a corporation more difficult to establish and operate than the other two forms of business ownership?9. Who in fa

72、ct runs the everyday activities of a corporation?10. What is the main purpose of forming conglomerates?Exercise IIUnit 2 Ownership( ) 1. _ are the most common form of business ownership in farming, construction, and many other industries.a. Partnerships b. Single proprietorshipsc. Corporations d. Co

73、nglomerates( ) 2. In most cases, _ is / are responsible for all business debts in a partnership according to the law.a. each partner b. the ownerc. the manager d. stockholders( ) 3.Corporations are owned by_ who have shares of stock in these companies.a. managers b. the board of directorsc. general

74、managers d. stockholders. Choose the best answer to complete the following sentences.b a d Exercise IIUnit 2 Ownership( ) 4. Those with assets of less than 100,000 are generally defined as_ .a. giant corporations b. small corporationsc. conglomerates d. single proprietorships( ) 5. Corporations acco

75、unt for about _ of all business income produced in the United States.a. 1 / 4 b. 3 / 4 c. 1 / 3 d. 2 / 3( ) 6. _ control more than 80% of the countrys corporate assets.a. Small corporations b. Giant corporationsc. Conglomerates d. Partnership businessesb b b Exercise IIIUnit 2 Ownership1._ ownership

76、2._ money used to start or expend a business3._ allowed by the law4._ the state of being legally responsible5._ periodical payment of interests on shares to shareholders in a business company6._ taking (money) out of (a bank)7._ bring sth. to an end8._ a body of people permitted by law to act as a s

77、ingle person for purpose of business9._ the total property, money, etc. of a company that may be sold to pay a debt10._ to have control (over)11._ public service such as the supply of water, electricity, gas, etc.III. Give the English words for the meanings provided.proprietorship capital legal liab

78、ility dividend withdrawal dissolve corporation assets dominate utility Exercise IVUnit 2 Ownership1. Smoking fume contains so many ten cancer-causing factors that smoking is_ committing suicide.2. Modern people are likely_, but most of them are able to pay back the money.3. The company _ the promoti

79、on campaign _ a press conference.4. Business is so bad, and many small firms_ soon.5. The rules clearly_ that competitors are not allowed to accept payment.IV. Put the proper forms of the following words or expressions from the text in the blanks to complete the sentences.formality be liable for acc

80、ount for in the extent ofno more than specify start with go into debtconsist of run out of close down offsetno more thanto go into debtstartedwith will have to close downspecifyExercise IVUnit 2 Ownership6. The cargo of supplies sent to the town stricken by a catastrophic earthquake mainly _ food, m

81、edicine and tents.7. Computer software _ some 70 percent of our range of products.8. The workmen_ all the damage done by them during the decoration of a house.9. His losses in his business operations have to_ with the profits he had made in stock transactions.10. _ energy, I had to find a place to h

82、ave some food and drink.11. No matter what happens, Ill render every possible help to you _ my ability.12. Before you become the legal owner of the car, there are still some _ to settle.formality be liable for account for in the extent ofno more than specify start with go into debtconsist of run out

83、 of close down offsetconsisted ofaccounts forare liable forbe offsetRunning out ofin the extent offormalitiesExercise VUnit 2 Ownership1. The annual output of the steel plant makes up 40% of the total annual steel output of the country._2. He is not that old. I guess he is only 45._3. Because of ine

84、fficiency of the management, the factory stops its operation._4. He had the better opportunity than other young people since he was born into a wealthy and powerful family._5. In that wicked place, honest people were regarded as fools._6. Every adult is responsible for whatever he says or does._V. R

85、ewrite the following sentences and replace the underlined parts with appropriate words or phrases from the text.accounts for no more thanhas closed down the advantage over other young people of being bornconsidered as is liable for Exercise VIUnit 2 OwnershipVI. Word Study: For each of the following

86、 clues, use the given prompts to make sentences in the same way as is shown in the model.1. Prompt: English / differ (v.) / French / many / aspect Model: English differs from French in many aspects.a. big / differ (n.) / know / something / true / able / prove / itb. heat / Arizona / differ (adj.) /

87、heat / here / since / dryc. two / side / dispute / still / differ (v.) / each other / question / payKey:Key: a. Theres a big difference between knowing that something is true, and being able to prove it.b. The heat in Arizona is different from the heat here, since its very dry.c. The two sides in th

88、e dispute still differ with each other over the question of pay.Exercise VIUnit 2 Ownership2. Prompt: Small / corporations / generally / define (v.) / those / assets / less / $100,000 Model: Small corporations are generally defined as those with assets of less than $100,000.a. Oxford dictionary / sp

89、ortsman / define (v.) / good / fellow / fair / opponentsb. people / say / students / define (n.) / idealistic / impatientc. each / us / might / define (v.) / concept / freedom / slightly / different / wayKey:Key: a. In Oxford Dictionary, the sportsman is defined as a good fellow who is fair to oppon

90、ents.b. People say that students are by definition idealistic and impatient.c. Each of us might define the concept of freedom in a slightly different way.Exercise VIUnit 2 Ownership3. Prompt: giant / corporation / dominate (v.) / banking / transportation Model: The giant corporation dominates bankin

91、g and transportation.a. nation / develop / industry / seem / likely / dominate (v.) / whole / Western Europeb. after / some / discussion / peace / development / adopt / dominate (adj.) / themes / conferencec. our / dominate (n.) / market / seriously / threaten / new product / efforts / make / retain

92、Key:Key: a. This nation, with its developed industry, seemed likely to dominate the whole of Western Europe.b. After some discussion, peace and development were adopted as the dominant themes of the conference.c. As our dominance of the market is seriously threatened by this new product, efforts sho

93、uld be made to retain it.Exercise VIUnit 2 Ownership4. Prompt: I / will / have to / ask / bank / extend (v.) / repayment / time / loan Model: Ill have to ask the bank to extend the repayment time on my loan.a. consequences / recession / country / extend (v.) / borderb. he / fully / occupy / work / d

94、ay / often / extend (v.) / well / eveningc. some / acceptable / reasons / student / get / extend (n.) / finish / write / thesisKey:Key: a. The consequences of the recession in that country have extended beyond its borders.b. He is so fully occupied that his working day often extends well into the ev

95、ening.c. With some acceptable reasons, the student has got an extension to finish writing his thesis.Exercise VIUnit 2 Ownership5. Prompt: giant corporations / represent (v.) / only / about / two / tenth / corporations / United States Model: Giant corporations represent only about one twentieths of

96、the corporations in the United States.a. Each / class / elect / two / student / represent (v.) / conferenceb. we / discuss / these / issue / senior / represent (n.) / companyc. about / 5 years / firm / establish / adequate / represent (n.) / EuropeKey:Key: a. Each of the classes will elect two stude

97、nts to represent for the conference.b. We discussed these issues with a senior representative of the company.c. In about 5 years, the firm has established adequate representation in Europe.Unit 2 OwnershipPost-readingDiscussion & Case study Is it the most competitive Discussion & Case study Is it th

98、e most competitive ownership?ownership? Task 1: Work in pairs Task 2: Work in groupsTask 1. Work in pairsUnit 2 OwnershipThis text mainly tells us the three main forms of business ownership in the USA single proprietorships, partnerships, and corporations. Discuss in groups and work out the possible

99、 advantages and disadvantages of these three types of ownership.TypeAdvantagesDisadvantagesSingleProprietorshipPartnershipCorporationTask 2. Work in groups.Unit 2 OwnershipHave you ever heard of “employee ownership” before? Developed countries like the United States, the United Kingdom and Canada ha

100、ve seen rapid growth of employee ownership over the past decade. How do you like the idea of employee ownership? How will it change employees attitudes toward their work? How will it affect the relationship between management and labor? How will it stimulate employee participation in corporate affai

101、rs? Study the following case with your group members and give your opinion on the issue of employee ownership. Evidence of interest in the employee ownership can be found in a new book Employee Ownership: The New Source of Competitive Advantage by Carol Beatty and Harvey Schachter, which brings to l

102、ight the successes and struggles of ten companies in a seven-year study of employee ownership in Canada. Noting that “employee ownership has been somewhat overlooked in a world where stock market ownership and lone entrepreneurs are celebrated,” Beatty and Schachter studied employee ownership in Can

103、ada by looking at both companies in crisis who used employee ownershipTask 2. Work in groups.Unit 2 Ownershipas a job-saving strategy and those where employee ownership arose as part of the management philosophy. Their research showed that five of the 10 companies in the sample were threatened with

104、imminent closure before turning to employee ownership. All five were in old economy sectors in which a high failure rate and consolidation have been rampant. After their employee buyouts, only one company has not survived to date, and seven of the ten companies have proven to be highly successful in

105、 various ways, ending up in stronger financial positions than before. While the authors concede (承认) that it is not clear to what extent this turnaround can be attributed to employee ownership as compared to other factors, considering that all five companies were in serious financial trouble before

106、their employees bought them, they suggest that their survival record is impressive. Of the five companies studied that were not in financial crises at the start of employee ownership, four have generated superior returns for their shareholders, and the other is turning in a profitable performance. T

107、he authors suggest that employee ownership has helped them avoid the high failure rate typical of small entrepreneurial companies. They retained valuable employees, boosted trapped growth, attracted investors, and expanded rapidly. One of them, Creo, has become an international success story.Reading

108、 IIUnit 2 OwnershipUNIT Dictation Text ExercisesDictationUnit 2 OwnershipDictation_ The corporate form of ownership has several advantages. The first is its ability to attract financial resources. A second advantage is that if the corporation attracts a large amount of capital, it can make large inv

109、estments in plants, equipment and research. A third advantage is that a corporation can offer high salaries and thus attract talented managers.TextUnit 2 Ownership Text NotesBusiness in a Free Enterprise SystemUnit 2 Ownership1 Business in a free enterprise system depends on factors both in the econ

110、omy and within individual companies. The most important of these factors include (1) productive resources, (2) profits, and (3) competition.2 Productive resources enable business firms to produce goods and provide services. They include natural resources land and raw materials, such as minerals, wat

111、er, and sunlight; capital a companys factories, supplies, and equipment, and its money to buy these things; labor the work of a companys employees; and technology a firms scientific and business research and inventions.TextUnit 2 Ownership3 The productive resources of a business are also known as in

112、puts. The kind and quantity of inputs depend on the goods and services, called outputs that are produced. For example, such service businesses as hotels and telephone companies need the work of many employees. Many farms require large areas of land. Most manufacturing companies must have large amoun

113、ts of capital for the purchase of machinery and raw materials.4 Profits are the earnings of a firm after all expenses have been paid. These expenses include the costs of productive resources in the form of wages, rent, and interest.5 The goal of nearly all business firms is to earn a maximum profit.

114、 Most business policies are based on this profit motive. Sales provide the income for most firms, and executives try to increase their companys profit by boosting the sale of outputs to consumers. Executives also try to run their companies efficiently. Efficient employees and equipment help to lower

115、 production costs and thus increase profits by getting the job done with as little waste of both energy and time as possible.TextUnit 2 Ownership6 Competition among business firms affects the price and quality of goods and services. Firms must maintain reasonable prices and standards to attract and

116、keep customers. People are not likely to buy from a company if they are dissatisfied with its product, or if they can purchase the product for less money elsewhere. Firms compete for sales by using such techniques as advertising and by offering special discounts or bonuses.7 Certain types of busines

117、ses have few or no competitors. Most of these businesses provide essential services to the public. For example, many public utility companies have a legal monopoly in their fields. In providing such services as electricity and water, one company may be able to operate more efficiently than several c

118、ompeting firms. Other enterprises, such as airports and railroads, are too expensive for several companies to operate in the same area. In these types of businesses, government regulation replaces competition in setting prices and establishing standards of quality.TextNotesUnit 2 Ownership1. free en

119、terprise: an economic system in which individuals are free to own capital and to organize their businesses as they wish on condition that they obey certain laws intended to protect society from harm by dishonest or greedy people. (自由企业)2. raw material: (often pl.) natural substance used to make some

120、thing in an industrial process. (原料)3. mineral: natural substance usually found in the ground and mines. ( 矿物)4. input: resources such as money, labor, or power given to something (e.g. a machine or a project) to make it work.5. interest: money paid to somebody who invests money. (利息)NotesUnit 2 Own

121、ership6. profit motive: the desire to make a profit. (获利的动机)7. executive: a person or group in a business organization with administrative or managerial powers. (经理, 主管人员)8. discount: reduction made in the usual price of buying goods. (折扣)9. bonus: payment added to what is usual or expected, e.g. an

122、 extra dividend paid to shareholders in a company or to holders of an insurance policy. (额外津贴; 奖金)10. monopoly: complete control of a particular field of industry by one person or one group of people, so that other people or firms find it difficult or impossible to compete with them. (垄断)ExercisesUn

123、it 2 Ownershipl Exercise Il Exercise IIl Exercise IIIl Exercise IVl Exercise Vl Exercise VIUnit 2 Ownership( ) 1. Business in a free enterprise system depends on many factors, among which the most important ones include productive resources, profits and competition.( ) 2. Productive resources involv

124、e natural resources, a companys factories, employers, employees and technology.( ) 3. By using the word “capital”, we refer to a companys factories, supplies, equipment and its money to buy these things besides labor and technology.( ) 4. Business in a free enterprise system has more freedom and ind

125、ependence in comparison with other kinds of enterprise system.( ) 5. The kind and quantity of outputs rely on the products and services, called inputs.Exercise II. Comprehension: True / False / Not Mentioned.I. Comprehension: True / False / Not Mentioned.T F F NM F Unit 2 Ownership( ) 6. Profits are

126、 the savings of a firm before all expenses have been paid.( ) 7. Most business policies are made on the basis of the motive to earn maximum profits.( ) 8. Efficient employees and equipment are of particular importance in lowering production costs and in getting the job done with as little waste of b

127、oth time and energy as possible.( ) 9. Advertising and offering special discounts or bonuses are the techniques used by companies to compete for sales.( )10. When offering such services as electricity, clothes, food and water, a monopoly can probably operate more efficiently than several competing f

128、irms.Exercise IF T F T F Exercise IIUnit 2 Ownership1. How much do you know about business in a free enterprise system?2. Productive resources, profits and competition are the three important factors on which business in a free enterprise system depends. Can you list their functions respectively?3.

129、Can you say something about the advantages and disadvantages of monopoly and free competition?II. Discussion Questions.II. Discussion Questions.Exercise IIIUnit 2 Ownership( ) 1. They are considering a plan that may yield more output with less labour input.a. efficiency b. productionc. profits d. ea

130、rnings( ) 2. The maximum temperature recorded in August in the region is 35oC.a. highest b. lowestc. mild d. normal( ) 3. He took on several part-time jobs to boost his income.a. make b. earnc. obtain d. increase( ) 4. Though the young man has got a business of his own, he has no idea of how to run

131、it successfully.a. maintain b. managec. expand d. buildIII Vocabulary: Guess the meaning of the following underlined III Vocabulary: Guess the meaning of the following underlined words from the text.words from the text.b a d b Exercise IIIUnit 2 Ownership( )5. Many patients come to see the dentist b

132、ecause his fees are reasonable.a. believable b. cheapc. acceptable d. pleasant( ) 6. Teachers and students may get a 40% discount on air fares during vacations.a. increase b. valuec. charge d. reduction( ) 7. It is not legal for citizens to possess firearms in that country.a. lawful b. restrictedc.

133、moral d. guilty( ) 8.The influence of the mass media has made many new technical terms no longer the monopoly of the experts.a. rights b. controlc. domination d. knowledgec d a b Exercise IIIUnit 2 Ownership( ) 9. Central heating was installed for the regulation of the temperature in the building.a.

134、 change b. coolingc. control d. heating( ) 10. In some developed countries robots are replacing workers on assembly lines.a. having a great effect on b. driving awayc. taking the place of d. competing withc c Exercise IVUnit 2 Ownership1) I have to finish writing the budget report which_ tomorrow mo

135、rning.a. has to be handed in b. has to hand inc. needs to hand in d. can be handed in2) She glanced over her shoulder to make sure she_ .a. wasnt following b. wasnt being followedc. hadnt been followed d. might not be following3) Mr. Edwards_ to the Hong Kong branch by the Head Office.a. has sent b.

136、 has been sentc. may have sent d. is being sent4) Usually installation_ in the price of the computer.a. includes b. is includedc. will be include d. may include Special Use: The Passive Voice of Verbs.1. Choose the answer that best completes each sentence while paying due attention to the use of the

137、 Passive Voice.abbbExercise IVUnit 2 Ownership5) Mr. Black suggested that the possibility of a new advertising campaign_ in the near future.a. be looked into b. will be looked intoc. is looked into d. must be looked into6) We are surprised that so many complaints_ from our customers by the retail sh

138、ops.a. could be received b. should have been receivedc. have been received d. had received7) The out-of-date promotion method_.a. has done away with b. must be done away withc. has to do away with d. needs being done away withacbExercise IVUnit 2 Ownership8) Im sure the interview_ early next month.a

139、. is to hold b. has been heldc. is going to be held d. will hold9) The conference hall could have been built on time if the shipment _.a. wouldnt be delayed b. havent been delayedc. wasnt delayed d. hadnt been delayed10) Whatever job one does in a company, he or she_ .a. cant be looked down upon b.

140、has looked down uponc. isnt looked down upon d. shouldnt be looked down uponcddExercise IVUnit 2 Ownership1)The office will be cleaned by the time the financial manager comes back.2) Five candidates were interviewed last Friday, but till now no decision has made yet.3) The document needs being signe

141、d by the Managing Director.4) We all think that our success has been resulted from careful planning.5) Total amount of sales will probably be increased by 2% next year.2. There is an error in each of the following sentences. Underline the incorrectly used word or words and write the correct one at t

142、he end of the sentence.will have been cleaned has been made signing / to be signed has resulted increase Exercise IVUnit 2 Ownership6) Some of our staff were not agreed to a flexible time system two years ago.7) A good suggestion was put by a senior member of the committee at the meeting.8) The stad

143、ium being repaired, so it wont be available for the football match.9) John encouraged by his friends to take a part-time job in a firm.10) Someone requested a database would be set to collect all the information related to our clients.didnt agreewas put forward is being repairedwas encouraged （shoul

144、d) be setExercise VUnit 2 Ownership1.近来他们生意很糟糕,不久就得歇业。(close down)2. 我们打字纸快用完了,让秘书尽快去买一些。(run out of)3. 该文化发展委员会是由来自全国8所大学的10位著名专家组成的。(consist of)4. 如果邮包未经保险(insure),邮局对其受损不负责任。(be liable for)5. 这家超市由于经营不善而陷入债务。(go into debt)V. Translate the following sentences into English, using the V. Translate t

145、he following sentences into English, using the expressions in the parentheses.expressions in the parentheses.They will have to close down soon because business has been bad recently.We are running out of typing paper, so let the secretary buy some as soon as possible.The committee for cultural devel

146、opment consists of 10 famous experts from 8 universities of the country.The Post Office is not liable for damage to a parcel by mail if it is not insured.The supermarket goes into debt due to bad management.Exercise VUnit 2 Ownership6. 这个5年前仅有10人的小公司现已发展成为一个拥有3家子公司(subsidiary company)的大企业。(no more t

147、han)7. 国际市场上每桶(barrel)石油的价格从28美元到30美元不等。(range from . to)8. 销售被定义为帮助顾客,并帮助他们做出明智的购买决定。(define . as)9. 该企业以高质量的产品服务于顾客。(in the form of)10. 大多数消费者对电脑的售后服务不满意。(be dissatisfied with)The small company, which had no more than 10 people 5 years ago, now has developed into a big business with 3 subsidiary c

148、ompanies.Prices of oil range from 28 to 30 a barrel in the international market.Selling is defined as assisting customers and helping them make a wise buying decision. This business serves customers in the form of high-quality products.Most consumers are dissatisfied with the after-sales services of

149、 computers.Exercise VIUnit 2 Ownership To say that privatisation (使私有化) is (1)_ in Britain is (2)_ understatement. Every week brings fresh outrage at tales of bosses of privatised firms picking up huge pay rises while overcharging customers, firing (3)_ and cutting the pay of those who remain. The o

150、rdinary man, who has never liked (4)_, wants the water and electricity industries, and maybe more, to be nationalised (使国有化). So what can be said in (5)_ of privatisation? Actually a great deal. Back in 1979, Britains public-sector firms were in the doldrums (不景气), lacking both entrepreneurial vigou

151、r and a (6)_ for customer service. Many were losing large (7)_ of money. According to the Treasury (财政部), the privatised industries were then costing each (8)_ the equivalent of 300 in todays money. VI. Cloze: Select words from the box below and fill them in blanks.VI. Cloze: Select words from the b

152、ox below and fill them in blanks.concern employees defense sums unpopularprivatisation an tax-payer with paysince profitable as than admiredunpopular an employeesprivatisation defense concern sums tax-payer Exercise VIUnit 2 Ownership (9)_ privatisation and the changes in management, financial contr

153、ols and regulation associated (10)_ it these firms have been completely changed. Most renationalised companies were more (11)_ in real terms in 1994 than in the year before they were sold. Most had higher sales, and a higher share price (12)_ in their first year after privatisation. They now (13)_ 2

154、.5 billion a year in taxes (equivalent to 100 for each taxpayer). Firms such (14) _ British Airways and British Telecom have been turned from corporate dogs into some of the worlds most (15)_ companies.concern employees defense sums unpopularprivatisation an tax-payer with paysince profitable as tha

155、n admiredSincewith profitable thanpay as admiredExtended ActivitiesUnit 2 OwnershipUNITA Lexical KnowledgeB Function and StructureC Practical ReadingD Additional VocabularyE Business WorldF Humor TimeUnit 2 OwnershipLexical Knowledge Exercise I Exercise IIUnit 2 OwnershipExercise II. The suffix -ati

156、on, -sion, -ion, and -ment can be used to form nouns from verbs, e. g. communicate communication decide decision promote promotion employ employmentNow fill up the following table.Unit 2 OwnershipExercise IVerbVerbNounNounVerbVerbNounNounpollutecombinationarrangementsuggestobserverepetitiontreatfoun

157、dpermissioninventInformationdevelopdivideeducationproductionrequiremanagediscussionconsiderconfusepollutioncombine arrange suggestionobservationrepeat treatment foundationpermit inventioninform developmentdivisioneducate produce requirementmanagementdiscuss consideration confusionUnit 2 OwnershipII.

158、 -ness is a suffix added to adjectives to form nouns, denoting of “the quality” or “state of being ”, e.g.nervous nervousness correct correctness -ship is a suffix used to form mainly abstract nouns denoting “status”, “office”, “condition”, “ability or skill”, e. g.citizen citizenship member members

159、hippartner partnership -hood is a suffix used to form nouns, denoting “state”, “character”, “condition”, “nature” etc., e. g.neighbor neighborhood man manhood -ism is a suffix used to form nouns, denoting “action or practice”, “condition”, “doctrine or principle”, etc., e. g.organ organism social so

160、cialismExercise IIUnit 2 OwnershipNow add -ness, -ship, -hood, or -ism to the words given below and then fill in the blanks in the following sentences with some of them. Change the form where necessary.lazy _ criticize _partner _ relation _likely _ helpless _ideal _ leader _scholar _ mother _adult _

161、 tour _shy _ friendly _child _ hero _Exercise IIlaziness criticismpartnershiprelationship likelihood helplessness idealismleadership scholarshipmotherhoodadulthoodtourism shyness friendliness childhood heroismUnit 2 Ownership1. _ is a leading industry in Spain.2. These old pictures reminded the youn

162、g man of the joys of_.3. _ is one of the biggest barriers to success.4. After Mary had got over her initial_, she took an active part in school activities.5. He studied so hard that he won a_ to Oxford University.6. Standing before their suffering son, the parents felt a sense of_.7. We think there

163、is a close_ between violence on television and crimes of violence.8. His _ in saving the old man from the burning building was highly praised.9. Is there any_ that the football match will be cancelled?10. The dean was criticized for his lack of_.Exercise IITourism childhoodLaziness shyness scholarsh

164、ip helplessnessrelationship heroismlikelihood leadershipFunction and Structure: Asking or Offering FavorsUnit 2 Ownership Exercise I Exercise IIUnit 2 OwnershipExercise II. Practice the following expressions with your partner and then complete the dialogues.ItemsSample sentencesNotesAsking favorsWil

165、l you do me a favor? / May I ask a favor of you?Can you give me a hand / spare me a few minutes?Would you please type the letter for me?Would you be so kind as to call Mary back for me?Would you mind if I ask you to mail the letter for me?Could you oblige me by moving all these desks out?Could / May

166、 I bother / trouble you to return these books?Is there any chance of my using your car tonight?I was wondering if you could lend me your car.When you ask favors, it is important to be polite. The correct intonation used is as important as what is actually said.Unit 2 OwnershipExercise IItemsSample s

167、entencesNotesOffering favors Can I help out / give you a hand?Leave it to me.Let me do it for you / give you a hand.Would you like some help / me to do it for you?How about me mailing the letter for you?Decliningoffers of help No, dont bother / I can manage, really.No, its all right / OK, thanks.Its

168、 very kind / good of you to offer, but I can do it myself.Thank you for the offer, but I know how to do it.Unit 2 Ownership1. Mike: _ my borrowing your typewriter? Tom: For how long? Mike: Until next Monday. Tom: Yes, I think that would be all right.2. Mr. White: Hi, Mr. Johnson. _? Im totally confu

169、sed by these accounts. Could you give me some advice?Mr. Johnson: What accounts? Oh, just _. Youre a new hand after all. Mr. White : _ offering, but I have to learn how to deal with them all by myself eventually.Exercise IIs there any chance of Can you spare me a few minutes leave them to me Thank y

170、ou for Unit 2 Ownership3. (On the train)Passenger A: Excuse me. Is this seat taken?Passenger B: No, its not.Passenger A: Oh, thank you.Passenger B: Oh, what a heavy trunk! _?Passenger A: (He puts his trunk in the overhead rack.) No, thank you._, really.Passenger A: Its hot, isnt it? _ opening the wi

171、ndow?Passenger B: My pleasure.4. Susan: _ let me stay with you for a few days? Elsa: It really depends on when. Susan: Until next weekend, if its OK. Elsa: Oh, Im so sorry. My sister will visit me the day after tomorrow.Exercise ICan I give you a hand I can manage Could you oblige me by Would you be

172、 so kind as to Unit 2 Ownership5. Mr. Blake: _? Miss Stewart: Yes? Mr. Blake: _get Mr. Irvin at Account Department on the telephone for me? Miss Stewart: All right. _. (She dials) Hello, Mr. Blake calling Mr. Irvin, please. (to Mr. Blake) Hes on the phone. (She hands him the receiver.) Mr. Blake: Mr

173、. Irvin, Im awfully sorry to say that I find myself in an embarrassing situation. I made another lunch date for today and forgot to enter it in my appointment book. _ to set aside half an hour for me tomorrow noon.6. Michelle: Oh, Harry, whats up? Why are you staying up so late? Harry: Todays transl

174、ation assignment is very difficult and I havent finished it yet. Michelle: _? Harry: _ to offer, but I think I can do it myself.Exercise IMay I ask a favor of you Could I bother you to Let me do it for you May I bother you Would you like me to do it for you Its very kind of you Unit 2 Ownership7. Mr

175、s. Smith: Philip, Philip, _? Mr. Smith: OK, darling. Mrs. Smith: _ join me in the kitchen? Its getting late and we have vegetables to prepare. Mr. Smith: _. Ill make the vegetable salad. Robbie: Mom, _ preparing the apple pie? Mrs. Smith: No, _. You just relax with your grandpa. Ill get you to help

176、serve later.8. Cathy: _ if I turn the TV on? Theres a cowboy film on channel 8. Fanny: Really? Wonderful! Id like to watch it too. By the way, _? Cathy: Yeah? Fanny: _ could lend me your car tomorrow. Cathy: No problem.Exercise Ican you give me a hand Would you please Leave it to me how about me its

177、 all right Would you mind will you do me a favor I was wondering if you Unit 2 Ownership1. Your friend has run out of money and wants to borrow some money from you. You tell him / her that you are short of money, too.2. You offer to help your deskmate with his / her maths homework, but he / she pref

178、ers to do it himself / herself.3. Your neighbor asks you to water his plants, take care of his pets and keep an eye on his house while he is out for travel.4. Miss Park, your colleague, offers to type some letters for you. You express your gratitude to her but tell her that you can handle it yoursel

179、f.Exercise IIII. Make dialogues with your partner according to the situations given. Pay special attention to the expressions of asking and offering favors.Practical Reading: Company RelationshipUnit 2 Ownership Journalists often write about company relationships using the language of courtship, mar

180、riage and divorce. Read the following article about a joint venture and complete the definitions below it, using words from the article.Lines across the Water Britains telecoms giant, BT, has been unlucky in love. Its courtship of Mintel ended in tears last year, when it sold its shares in the Canad

181、ian company at a loss of 120m ($220m). Its agreement with Americas McCaw Cellular ended less unhappily with a profit of over 200m. Only a month ago BTs attempts to woo Electronic Data Systems, the worlds largest computer-services group, failed. But after an on-off romance, BT leapt into bed with MCI

182、, Americas second biggest long-distance telecoms company. “The telecommunications deal of the century,” says Bert Roberts, MCIs chairman. Ah, but can it last? The dowry is generous. BT, which has a 95 per cent share of the British market, and MCI are investing a combined $1 billion to launch a new j

183、oint-venture company.Practical Reading: Company RelationshipUnit 2 Ownership1. A boy who fails in winning the heart of a girl may be said to be _. The same happened when BTs courtship of Mintel ended.2. A relationship between two people may end_. A joint venture that is abandoned may be referred to

184、in the same way.3. There is a period of _ before marriage, and this expression is used to talk about two companies that are discussing the possibility of combination.4. Nowadays many young people sign an_ concerning money and property before they get married. Two companies sometimes also enter into

185、an_ with each other.5. A man who tries to persuade a woman to marry him is said, in old-fashioned English, to _ her. In the same way, when company A wishes to form an alliance with company B, A is said to _ B.unlucky in love in tearscourtship agreement agreement woo woo Practical Reading: Company Re

186、lationshipUnit 2 Ownership6. When it is uncertain if a marriage is going to happen, the couple is said to have an _ romance.7. _ may mean the love affair between a lady and a gentleman. Two corporate companies can also be described as having such a love affair when their cooperation works well.8. Tw

187、o persons who suddenly enter a relationship may be said to _ with each other, and the expression is used in the article about two companies that agree to form an alliance.9. Sometimes, marriage may not be based on real love, but it is only a kind of _, which is to the advantage of both sides. Busine

188、sses often have such a character.10. In some traditions and cultures, when two people marry, a sum of money called a _ is given by one family (usually the brides) to the other. Using this word, the article refers to the amount of money a partner brings to the joint venture company.on-offRomance leap

189、 into beddeal dowryAdditional VocabularyUnit 2 Ownership1. global corporation 1. 工业公司2. multinational corporation 2. 子公司3. holding company 3. (股票)上市公司4. trading company 4. 合资企业5. trust company 5. 大企业6. subsidiary company 6. 生产部门7. paper company 7. 知识经济8. parent company 8. 皮包公司9. industrial company 9

190、. 母公司10. public limited company (PLC) 10. 私有化11. private limited company 11. 市场经济12. public utility company 12. 外资企业Match the following words about company ownership and economy with their Chinese equivalents.3331213220289131724Additional VocabularyUnit 2 Ownership13. big business 13. 私营行业14. small

191、business 14. 合伙企业15. small and medium-sized company 15. 联合大企业16. conglomerate 16. 规模经济17. overseas-funded enterprises 17. 私营18. joint venture 18. 小企业19. single-proprietor business 19. 国有化20. partnership business 20. 信托公司21. joint-stock company 21. 控股公司22. non-stock corporation 22. 计划经济23. state ente

192、rprise 23. 受控经济24. public sector 24. 公用事业公司25. private sector 25. 国有企业518261512430142935252813Additional VocabularyUnit 2 Ownership26. manufacturing sector 26. 中、小型公司27. service sector 27. 混合经济28. nationalization 28. 公共行业29. privatization 29. 股份公司30. planned economy 30. 独资企业31. market economy 31. 跨国

193、公司32. knowledge economy 32. 贸易公司33. economy of scale 33. 全球公司34. mixed economy 34. 服务行业35. controlled economy 35. 非股份公司634191022117162723Business WorldUnit 2 OwnershipJoint Venture “Joint venture” is the term generally used for an arrangement between foreign and domestic investors establishing a new

194、 corporation for the purpose of producing goods or carrying out other operations (e.g. the construction and provision of technical services). The parties negotiate the articles of incorporation and the amount of capital each is to put into the joint venture. Control of the new corporate entity (实体)

195、usually lies with a board of directors whose members are appointed by the partners according to their shares in the capital investment. In most cases the investor will seek a majority interest in the venture so as to optimize (使尽可能完善) his control of operations and his share in eventual profits. Nego

196、tiations over the degree of control will revolve around how much capital or other assets each partner is prepared to contribute to the undertaking. The end result being sought is a joint venture that will ensure each partner a mutually agreed share in control over corporate policy and management and

197、 in the companys profits and losses.Humor TimeUnit 2 Ownership While doing my shopping I heard a quarrel at the next counter. I went up and saw an old customer pointing at a slogan on the wall behind the young shop-assistant and saying, “Youll lose lots of customers if you dont act according to your motto(座右铭) Customers are our Gods”. “But I dont believe in God,” the shop-assistant shouted.