BUSINESS ENGLISH

Business vocabulary,

business organisation and ownership, presents and past tenses.

BUSINESS OWNERSHIP

Business activity

Private sector: Business activity owned financed and controlled by private individuals

• Sole traders
• Partnerships
• Private limited companies
• Public limited companies
• Co-operatives
• Franchises

Sole Trader - owned financed and controlled by one individual but can employ other staff - common in local building firms, small shops, restaurants.

Partnerships - owned, financed, controlled by upwards of 2 partners, terms of partners agreed throuhg contract - accountants, architects, surveyors, estate agents.

Private limited companies - owned by between 2 and 50 shareholders.

Public limited companies - owned by minimum of 2 but no maximum number of shareholders.

Co-operatives - ownership, finance and control in hands of ´´members´´,exists for the benefit to ´´members´´.

Franchises - method of business ownership backed by established ´´brand´´ name.

There are 7 forms of business ownership, we talked about every of them, all of them are different. We were talking about all advantages and disadvatages of those forms of business ownership, we tried to understand and to say some examples of it.

We have done some exercises about business, we have translate the words from english to spanish language.

At the end of the lesson we were doing another type of exercises, revised present and past tenses.

BUSINESS OBJECTIVES

AIM: To investigate the competing aims of businesses in the private and public sector

Primary sector - extraction of raw materials from the earth - mining, quarrying, fishing, agriculture, forestry.
Secondary sector - processing of raw materials into finished or semi - finished products - manufactoring.
Tertiary sector - service industries - transport, finance, distribution, retailing, wholesailing, communications, hi-tech industries.
Quartemary sector - health, education, research, leisure.

Multiple business activity

- E.g. - BP or Repsol, involved in:

• Oil exploration and drilling (primary)
• Refining oil - production of gas, petroleum, bitumen, lubricants (Secondary manufactoring)
• Distribution of petrol from refineries to petrol stations and sales of petrol to consumer (tertiary)
• Research and development (quartemary)

Teacher talked about the public sector, about the objectives, objectives of public sector activity such as:

• Access and equity
• Quality
• Affordability

Objectives for private sector:

• Profit
• Market power
• Share price
• Social issues
• Sales and sales revenue
• Quality and innovation
• Image and reputation
• Environment
• Efficiency
• Survival

Public sector - business activity owned, financed and controlled by the state through government or local authorities.

Government - key departments set policy and monitor implementation.

Local authorities - County Councils, District Councils, Parish Councils.

Also there was talking about the range of business offered by the public sector:

• Museum and arts
• Path and parks
• Environmental health
• Cemeteries
• University
• Street lighting
• Roads
• Social services
• Licensing
• Schools
• Trading standards
• Care of the elderly
• Economic development and tourism.

At the end of the lesson we understood the difference between a public sector organisation and a private sector organisation.

We understood the major objectives of business activity in the public sector, the major aims of business activity in the private sector.