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Work here is public sector employment

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What business are you in? (2)

Vocabulary

industry	индустрия, промышленность, отрасль	Ireland is now a European center for light industry.
sector	сектор	The growth in the number of home computers has boosted the electronics sector.
public sector	государственный сектор	The main source of work here is public sector employment.
private sector	частный сектор	The private sector often complains about public enterprise.
manufacturing sector	производственный сектор	Most people in the area work in manufacturing sector.
service sector	сектор обслуживания	Most of the service sector jobs taken by women are in cleaning and catering.

Task 1. Match the words A - F with their definitions 1 – 6.

sector	activities connected with production of goods
private sector	the companies, organizations and activities in an economy that are owned and controlled by the government
industry	companies and activities involved in banking, tourism, transport rather than manufacturing goods
public sector	the industries and services that are not owned by the government
service sector	the organizations or companies in a particular area of activity
manufacturing sector	the production of basic materials and of goods

Vocabulary

shares	акции	They sold their shares at a higher price.
shareholder	акционер	Some shareholders are unhappy with the new management of the club.
subsidiary	дочерняя компания	Sharp Electronics is the U.S. subsidiary of Japan's Sharp Corporation.
acquisition	приобретение	IBM will look at acquisitions including small service companies.
takeover	поглощение	In this sector, he also thinks software concern Davidson & Co. might make an interesting takeover play.
joint venture	совместное предприятие	Some analysts also said that a joint venture with Canon is possible.
alliance	союз; альянс	The companies have formed an alliance to market the product.
merger	слияние, объединение	There has been a lot of talk about a merger with another leading bank.

Task 2. Fill in the gaps in the sentences 1 – 6 with the following words:

acquisitions, shareholders, merger, takeover, subsidiary, joint venture

Encouraged by growing global competition, Renault of France and AB Volvo of Sweden are exploring a possible ___ that would create the world’s fourth largest auto company.
Finding a local partner and creating a ___ could be a good way of entering a new overseas market.
Tokay, the world’s oldest wine producer, was bought by a Japanese distiller and a French insurance group. It was one of the most important ___ in this industry.
Dividends are paid to the ___ each year if adequate profits are made.
The managers wanted to remain an independent concern and were strongly against any ___.
Chase Manhattan Bank is a ___ of Chase Manhattan Corporation.

Task 3. Read and translate the text.

Bringing two companies together is an enormous task. There are big questions that need to be resolved, such as the new group’s strategy and direction. There are also administrative, logistical and technical challenges. Will new contracts be necessary? Where the headquarters of the combined operations will be located? How can the information technology systems be integrated?

Work on bringing the partners together should start before the public knows about the merger. All the plans should be discussed confidentially and employees in both companies must be informed about future changes as early as possible.

Everything should be done to avoid the worst consequences of mergers. Managers should recognize cultural differences between the companies by studying their history. They should explain the employees why the change is necessary as any merger means that hard work is to begin.

Active Vocabulary

enormous	огромный	avoid	избегать
challenge	сложная задача, проблема	consequences	последствия
headquarters	штаб-квартира	recognize	осознавать, признавать

Study the text again, match the words and then use your word pairs to complete the sentences 1 – 5 below.

discuss	differences
cultural	technology
future	confidentially
the worst	changes
information	consequences

We can see very real historical and ___ ___ between our two countries.
I am afraid the company debt will result in ___ ___.
Keep it a secret. We will ___ it ___.
The ___ ___ department is installing new software.
We have planned ___ ___ in the budget.

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