Asked
6 years, 6 months ago
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When several people work together, we call them a team.
When companies work together, we call them a ____?
They are not a group, as that signifies a permanent relationship. What is a temporary «team» of companies called that only work together on one project? I think there is a term, but cannot remember it.
asked Sep 23, 2016 at 5:29
5
I’d definitely opt for consortium
Noun Plural: consortia
Group of people, companies, etc., that agree to work together
(Merriam-Webster)
This is also the word used by the UK Government to describe a group of companies involved in, for example their Private Finance Initiative — basically big companies build schools, hospitals etc. for the government.
answered Sep 23, 2016 at 6:03
13
The use of the word «partner» in the context of two or more companies associating with one another is now very common and one often sees some reference to our «Partner Companies» in corporate writing. This merely announces an association or cooperation that is not covered by Partnership Law in the UK, for example. Company Law is mutually exclusive. To use the word Partnership would express or imply the legal status of a «Partnership» but not that of a Company. To use the word partner company has no such legal implication of a partnership under UK law.
(Lindley & Banks on Partnership)
answered Sep 23, 2016 at 6:55
Peter PointPeter Point
3,9379 silver badges23 bronze badges
2
joint venture
A joint venture (JV) is a business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task… However, the venture is its own entity, separate and apart from the participants’ other business interests.
- From Investopedia
industry cluster or business cluster
A business cluster is a geographic concentration of interconnected businesses, suppliers, and associated institutions in a particular field. Clusters are considered to increase the productivity with which companies can compete, nationally and globally.
- From Wikipedia
answered Sep 23, 2016 at 12:58
user662852user662852
3,22510 silver badges19 bronze badges
The answer by @BladorthinTheGrey is correct. I would also volunteer corporate group in the case where the companies are controlled by a common source.
Definition:
A corporate group or group of companies is a collection of parent and subsidiary corporations that function as a single economic entity through a common source of control.
Source: Wikipedia
answered Sep 23, 2016 at 12:44
1
Another good word is syndicate
a group of people or businesses that work together
(Merriam-Webster)
I used to work for a «Highly Protected Risk» property insurance company that was a syndicate of other insurance companies sharing ownership in the joint venture.
answered Sep 24, 2016 at 12:37
EmbryEmbry
112 bronze badges
1
Business Alliance — Business Dictionary
An arrangement or relationship among independent businesses with corresponding goals, established for a specific purpose and often for reducing costs and improving customer service. The collaboration is usually managed by a team with members from each business and held together by one agreement giving an equal share of risk and opportunity to each business. An example would be a shared marketing program between Wal-Mart and Procter & Gamble.
The following are the five basic types:
sales alliance: an agreement to sell products or services that complement one another
solution-specific: an agreement to develop and sell a particular business solution together
geographic-specific: an agreement to market products and services in a particular geographic area together
investment: an agreement to combine funds for shared investment
joint venture: an agreement to share control, profit, and loss in a particular economic undertaking
answered Oct 3, 2016 at 18:55
NVZ♦NVZ
22.5k30 gold badges68 silver badges122 bronze badges
innovator
n.
a person who introduces new methods, ideas, or products
He was one of the great innovators in jazz.
disruptor
n.
a company that changes the traditional way an industry operates, especially in a more effective way
If customers talk to everybody else they get the status quo. We’re the innovator; we’re the disruptor.
entrepreneur
n.
someone who starts their own business, especially when this involves seeing a new opportunity
He was one of the entrepreneurs of the 80s who made their money in property.
entrepreneurship
n.
skill in starting new businesses, especially when this involves seeing new opportunities
The new business opportunities have encouraged entrepreneurship on a grand scale.
start-up
n.
a small business that has just been started
Start-ups are very vulnerable in the business world.
founder
n.
someone who establishes an organization
She is the founder and managing director of the company.
manpower
n.
the supply of people who are able to work
The industry has suffered from a lack of manpower.
mentor
v.
advise or train (someone, especially a younger colleague)
He has mentored scores of young doctors.
net worth
n.
the value of the assets and money that a person or business has after their debts are taken away
He is one of Britain’s richest people, with a net worth of about $73.5 billion.
perk
n.
a special advantage or benefit, in addition to the money you are paid, that you are given because of your job
Free child care for preschool children of employees was a popular perk.
stake
n.
a share or financial involvement in something such as a business
They had planned to buy a 20 percent stake in the company.
motivate
v.
provide (someone) with a motive for doing something
He was primarily motivated by the desire for profit.
savvy
n.
the ability to make good judgments
You just need to get savvy and know where to hunt for the bargains.
contravene
v.
to do something that a law or rule does not allow, or to break a law or rule
The company knew its actions contravened international law.
scale something up
v.
to increase the size, amount, or importance of something, usually an organization or process
My company is scaling up its operations in the UK.
wilfully
adv.
with the intention of causing harm
They had wilfully destroyed any records of their bank deposits.
rapidly
adv.
very quickly; at a great rate
The business is expanding rapidly.
corporation
n.
a large company or group of companies that are controlled together as a single organization
I hated working for a large corporation.
multinational
n.
a company operating in several countries
It is a common issue for national and multinational corporations.
subsidiary
n.
a company that is owned by a larger company
Offshore banks are often formed as a subsidiary of an international bank.
consultancy
n.
a company that gives advice on a particular subject
He is leaving the company after 15 years to set up a consultancy.
venture
v.
a new business activity
The total value of venture investments increased to $2.6 billion in the last year.
global
a.
relating to the whole world; worldwide
Changes like this will impact on the global economy.
takeover
n.
a situation in which a company gets control of another company by buying enough of its shares
The bank fought off a takeover by another bank recently.
convert
v.
to change the character, appearance, or operation of something
We converted our oil furnace to gas to save money.
admittedly
adv.
used when you are agreeing that something is true, especially unwillingly
She is very clever, admittedly, but do you think she has the right personality for the job?
commercially
adv.
in a way that is concerned with buying, selling, and making a profit
Does the market research show that the product will succeed commercially?
welfare
n.
help given, especially by the state or an organization, to people who need it, especially because they do not have enough money
After her month’s sick leave, she was summoned to see the company’s welfare officer.
donate
v.
give (money or goods) for a good cause, for example to a charity
A portion of the proceeds will be donated to charity.
forbidden
a.
not allowed; banned
The sale of alcohol is forbidden here.
bonus
n.
an extra amount of money that is given to you as a present or reward for good work as well as the money you were expecting
The new contract gives workers less salary, but bonuses for hitting efficiency and sales targets.
strategy
n.
a detailed plan for achieving success in situations such as business, industry
We’re working on new strategies to improve our share of the market.
Контрольная работа по английскому языку.
WHAT IS AN ORGANIZATION?
1.
Match the words and
expressions with their Russian equivalents:
|
придерживаться, следовать |
|
противостоять |
|
увеличить долю рынка |
|
предоставлять отличное обслуживание клиентов |
|
предлагать своевременное обслуживание |
|
производить высококачественные товары |
|
мало контролировать чье-либо поведение |
|
последовательность взаимодействий с организациями |
|
противостоять |
Reading
2.
Read the text to learn more
about the places where all managers work.
What is an Organization?
Now let’s
talk about the immediate world in which you will operate as a manager. Organizations
are the setting for all managers, and managers don’t exist outside of
them. The word itself is derived from the
Greek word organon and it means a compartment for a particular job. An organization is
any structured group of people working together to achieve certain goals that individuals could not reach alone. Although alike in their need
to achieve specific goals, organizations differ with respect to what those
goals are. A goal at American Airlines is to improve its market share relative
to that of other major airlines, such as Delta, USAir, and JAL, by providing
extraordinary customer service. At Southwest Airlines, a goal is to offer
on-time service at the lowest prevailing price to increase its market share.
The goal at Polaroid is to create innovative instant cameras, whereas at
Minolta the goal is to produce high-quality lenses for cameras and other
optical devices. Organizations differ in many other ways, too. Some are large
and others small; some provide services and others products. Some
organizations, such as the armed forces, spend millions of dollars on
recruiting members and develop methods to make sure that they abide by formal
rules. Others, such as the local MADD (Mothers Against Drunk Drivers), spend
little money to attract members and impose few controls on their behavior.
Organizations
have existed throughout history, so why are they, their goals, and their
managers so important today? The reason
is that during the past fifty years, all developed nations have become
societies of organizations. Each of you could write your autobiography as a
series of experiences with organizations, both large and small: hospitals,
schools, sports teams, governments, banks, stores, clubs, and community groups.
Some have been well managed, but others have not.
There are a variety of legal types of organizations,
including: corporations, governments, non-governmental organizations,
international organizations, armed forces, charities, non-for-profit
corporations, partnerships, cooperatives, and universities. A hybrid organization
is a body that operates in both the public sector and the private sector,
simultaneously fulfilling public duties and developing commercial market
activities. As a result the hybrid organization becomes a mixture of a
government and a corporate organization.
In the social sciences, organizations are the object of
analysis for a number of disciplines, such as sociology, economics, political
science, psychology, management, and organizational communication. The broader
analysis of organizations is commonly referred to as organizational structure,
organizational studies, organizational behavior, or organization analysis.
«Что такое Организация?»
Теперь давайте поговорим о
непосредственном мире, в котором вы будете работать в качестве менеджера.
Организации — это среда для всех менеджеров, и менеджеры не существуют вне их.
Само слово происходит от греческого слова «organon» и означает отделение для
определенной работы. Организация — это любая структурированная группа
людей, работающих вместе для достижения определенных целей, в которых отдельные
люди не могли бы достичь целей в одиночку. Хотя организации схожи в своей
потребности в достижении конкретных целей, они различаются в отношении того,
каковы эти цели. Цель American Airlines — увеличить свою долю рынка по
сравнению с другими крупными авиакомпаниями, такими как Delta, USAir и JAL, за
счет предоставления исключительного обслуживания клиентов. В Southwest Airlines
цель состоит в том, чтобы предлагать своевременное обслуживание по самой низкой
преобладающей цене, чтобы увеличить свою долю рынка. Цель Polaroid — создавать
инновационные камеры мгновенного действия, в то время как цель Minolta —
производить высококачественные объективы для камер и других оптических
устройств. Организации отличаются и во многих других отношениях. Некоторые из
них большие, а другие маленькие; одни предоставляют услуги, а другие —
продукты. Некоторые организации, такие как вооруженные силы, тратят миллионы
долларов на набор членов и разрабатывают методы обеспечения соблюдения ими
формальных правил. Другие, такие как местная организация MADD (Матери против
пьяных водителей), тратят мало денег на привлечение членов и меньше
контролируют их поведение.
Организации существовали на
протяжении всей истории, так почему же они, их цели и их менеджеры так важны
сегодня? Причина в том, что за последние пятьдесят лет все развитые страны
превратились в сообщества организаций. Каждый из вас мог бы написать свою
автобиографию как серию опытов с организациями, как большими, так и малыми:
больницами, школами, спортивными командами, правительствами, банками,
магазинами, клубами и общественными группами. Некоторыми из них хорошо управляли,
но другими — нет.
Существует множество юридических
типов организаций, в том числе: корпорации, правительства, неправительственные
организации, международные организации, вооруженные силы, благотворительные
организации, некоммерческие корпорации, партнерства, кооперативы и
университеты. Гибридная организация — это орган, который работает как в
государственном, так и в частном секторе, одновременно выполняя государственные
обязанности и развивая коммерческую рыночную деятельность. В результате
гибридная организация становится смесью государственной и корпоративной
организации.
В социальных науках организации
являются объектом анализа для ряда дисциплин, таких как социология, экономика,
политология, психология, менеджмент и организационная коммуникация. Более
широкий анализ организаций обычно называют организационной структурой,
организационными исследованиями, организационным поведением или организационным
анализом.
Comprehension
3.
Answer the questions:
1.
Why do managers not exist outside
organizations?
2.
What is an organization?
3.
The word “organization” is derived
from Latin, isn’t it?
4.
In what way do organizations
differ?
5.
In what way are they alike?
6.
Do you agree that all developed nations are societies of organizations?
Why? / Why not?
7.
What are the legal types of
organizations?
8.
What disciplines study
organizations?
Ответьте на вопросы:
1. Почему менеджеры не существуют вне
организаций?
2. Что такое организация?
3. Слово “организация” происходит от
латинского, не так ли?
4. Чем отличаются организации?
5. В чем они похожи?
6. Согласны ли вы с тем, что все развитые
страны являются обществами организаций?
Почему? / почему нет?
7. Каковы юридические типы организаций?
8. Какие дисциплины изучают организации?
1.
Organizations are the setting for all
managers, and managers don’t exist outside of them, because an organization is any structured group of people working together to
achieve certain goals that individuals could not reach alone.
2.An organization is any structured group of people working together to achieve certain goals that individuals could not reach alone.
3.Yes, it is,the word itself is derived from the Greek
word organon and it means a compartment for a particular job.
4. Although
alike in their need to achieve specific goals, organizations differ with
respect to what those goals are.
5. Although alike in their need to achieve specific
goals, organizations differ with respect to what those goals are.
6.Yes, I do.
I agree with that all developed nations are societies of organizations,
because the reason is that during the past fifty years, all developed nations
have become societies of organizations. Each of you could write your
autobiography as a series of experiences with organizations, both large and
small: hospitals, schools, sports teams, governments, banks, stores, clubs, and
community groups. Some have been well managed, but others have not.
7. There are a variety of legal types of organizations,
including: corporations, governments, non-governmental organizations,
international organizations, armed forces, charities, non-for-profit
corporations, partnerships, cooperatives, and universities.
8. In the
social sciences, organizations are the object of analysis for a number of
disciplines, such as sociology, economics, political science, psychology,
management, and organizational communication.
4. Match the following words with
their definitions.
|
a. |
|
b. |
|
c. |
|
d. |
|
e. |
|
f. |
|
g. |
|
h. |
5.
Complete the sentences with the words from the box.
government
, goal , experience, charities, analysis,corporation , society
1.
He works for a large American corporation.
2.
His ultimate goal was to
set up his own business.
3.
The country now has a democratic government
for the first time.
4.
Several charities sent
aid to the flood victims.
5.
Britain is now a multi-racial society.
6.
They were doing some type of
statistical analysis.
7.
He had no previous experience
of managing a farm.
6.
Complete the sentences:
1.
All managers operate
in corporation involves developing strategic and tactical plans.
2.
An organization may be
defined as organization, in either absolute or
relative terms, to obtain scarce and valued resources and successfully
integrate and manage them.
3.
Organizations are alike in their goal-directed behavior.
4.
But all organizations
differ with respect to environmental issues and going
green.
5.
Organizations have existed throughout
history, so why are they, their goals, and their managers so important today?
6.
Organizations, their goals, and
their managers are very important
today because they plays very significant
role in our life.
7.
There are a variety of legal types
of organizations , including: corporations, governments, non-governmental
organizations, international organizations, armed forces, charities,
non-for-profit corporations, partnerships, cooperatives, and universities.
8.
Organizations are the
object of analysis for organizations is commonly referred to as
organizational structure, organizational studies, organizational behavior, or
organization analysis.
7.
Give a brief summary of the text using the sentences from the previous
exercise.
What is an
Organization?
Now let’s
talk about the immediate world in which you will operate as a manager. Organizations
are the setting for all managers, and managers don’t exist outside of
them. The word itself is derived from the
Greek word organon and it means a compartment for a particular job. An organization is
any structured group of people working together to achieve certain goals that individuals could not reach alone.
Organizations
have existed throughout history, so why are they, their goals, and their
managers so important today? The reason
is that during the past fifty years, all developed nations have become
societies of organizations. Each of you could write your autobiography as a
series of experiences with organizations, both large and small: hospitals,
schools, sports teams, governments, banks, stores, clubs, and community groups.
There are a variety of legal types of organizations,
including: corporations, governments, non-governmental organizations,
international organizations, armed forces, charities, non-for-profit
corporations, partnerships, cooperatives, and universities.
In the social sciences, organizations are the object of
analysis for a number of disciplines, such as sociology, economics, political
science, psychology, management, and organizational communication. The broader
analysis of organizations is commonly referred to as organizational structure,
organizational studies, organizational behavior, or organization analysis.
ORGANIZATIONAL STRUCTURE
1.
Every company has its organizational or company structure. Match the titles of
the jobs and departments with their Russian equivalents.
1. Board of Directors |
совет директоров |
2. Chairperson |
председатель |
3. Managing Director (M.D.) |
коммерческий директор |
4. PR (Public Relations) Officer |
cотрудник |
5. Chief Accountant |
главный бухгалтер |
6. Sales Manager (Mngr.) |
директор—распорядитель |
7. Sales Department (Dpt.) |
отдел сбыта, коммерческий отдел |
8. Finance Dpt. |
финансовый отдел |
9. Accounts/Accounting Dpt. |
бухгалтерия |
10. Advertising Dpt. |
отдел рекламы |
11. Training Dpt. |
отдел обучения и подготовки кадров |
12. Planning Dpt. |
плановый отдел |
13. Marketing Dpt. |
|
14. R & D/ Research & Development Dpt. |
отдел исследований и развития |
15. Administration Dpt. |
отдел административного управления |
16. Distribution Dpt. |
отдел снабжения |
17. Packaging Dpt. |
отдел упаковки товара |
18. Production Dpt. |
производственный отдел |
19. Purchasing Dpt. |
отдел распространения продукции |
20. Personnel Dpt. |
отдел кадров |
Reading
2.
Read the information to learn about organizational structure of Forever Young Ltd.
Company Structure
The Board of Directors is at the top of a company
structure.
The Chairperson
is the head of the Board of Directors.
The Managing Director runs the company and is
accountable to the Board of Directors.
There are four main departments in the company:
Production Department, Finance Department, Marketing Department, and
Administration Department.
Production Manager runs Production Department.
The Finance Manager reports to the Managing
Director.
The Accounts Manager is under the Finance
Manager.
3.
This is the list of new appointments at Forever Young Ltd.
Name |
Position |
Responsibilities |
Ms Falco |
Marketing Mngr. |
market research, sales promotion |
Mr Norman |
R&D Mngr. |
new product development |
Mr White |
Assistant Personnel Mngr. |
recruitment, training |
Mr Snow |
Far Eastern Sales Representative |
sales in Japan |
Ms Low |
Assistant Sales Mngr. |
sales in EC |
Make
up sentences about the new appointments like this using the underlined
expressions:
— Who
looks after market research and sales promotion?
takes care of
is responsible for
is in charge of
For
example: Ms Falco. She
is the Marketing Manager. She is responsible for market research, sales promotion.
1.
Mr
Norman. He is R&D Manager. He is responsible for new product development.
2.
Mr
White . He is an assistant Personnel Manager. He is responsible for recruitment,
training.
3.
Mr
Snow. He is a manager with Far Eastern Sales Representative. He is responsible
for sales in Japan.
4.
Ms
Low. She is an Assistant Sales Manager. She is responsible for
sales in EC.
4.
What are these people responsible for?
1.
Chief Accountant is responsible
for the finance.
2.
Personnel Mngr. is responsible for
the publicity
3.
Production Mngr. is responsible
for the new product development
4.
R&D Mngr. is responsible for
the product launch.
5.
Marketing Mngr. is responsible for
the market research.
6.
PR Officer is responsible for
the recruitment.
5.
Answer the questions:
1.
Who runs the company? Runs the company is a Managing Director.
2.
Which department is responsible
for advertising campaigns? Advertising Dpt. is responsible for advertising
campaigns.
3.
Who takes care of the company’s
finance? Finance Dpt. cares of the company’s finance.
4.
Which department manufactures the
products? Production Dpt. manufactures the products.
5.
Who looks after new product
development? R & D/ Research & Development
Dpt. looks after new product development.
6.
Which department sells the
products? Sales Dpt. sells the products.
7.
Which department sends the
products to the customers? Purchasing
Dpt. sends the products to the customers.
8.
Who is in charge of recruitment? Training Dpt. is in charge of recruitment.
9.
Who is the Managing Director
accountable to? The Managing Director accountable to Board of directors.
10.
Which department packs the
products? Packing Dpt. packs the products.
1. Кто управляет компанией? Руководит
компанией Управляющий директор.
2. Какой отдел отвечает за рекламные кампании?
Отдел рекламы отвечает за рекламные кампании.
3. Кто заботится о финансах компании?
Финансовый директор заботится о финансах компании.
4. Какой отдел производит продукцию? Отдел
производства производит продукцию.
5. Кто следит за разработкой нового продукта?
Отдел исследований и разработок следит за разработкой новых продуктов.
6. Какой отдел продает продукцию? Отдел продаж
продает продукцию.
7. Какой отдел отправляет продукцию клиентам?
Отдел закупок отправляет продукты клиентам.
8. Кто отвечает за набор персонала? Специалист
по обучению отвечает за набор персонала.
9. Перед кем подотчетен Управляющий директор?
Управляющий директор, подотчетный Совету директоров.
10. Какой отдел упаковывает продукты? Отдел
упаковок упаковывает продукты.
6.
Put in the right prepositions.
1.
Jim Filby looks for UK
sales promotion. He is accountable to the M.D.
2.
The Marketing Manager is responsible
for market research and reports to the M.D.
3.
The Assistant Personnel Manager
takes care for recruitment and training and is to the Personnel
Manager.
4.
Mr Norman is in charge of
new product development.
7. Translate into English.
1.
Я работаю в рекламном
отделе и отвечаю за продвижение товара на рынке.
2.
Начальник отдела
планирования подчиняется начальнику производственного отдела.
3.
Мистер Брайт руководит
отделом снабжения.
4.
Кто занимается
исследованием рынка?
5.
Начальник отдела кадров
подчиняется генеральному директору.
6.
Эта фирма выпускает
персональные компьютеры.
7.
Кто отвечает за связи с
общественностью?
8.
Отдел исследований и
развития отвечает за разработку новой продукции.
9.
Набором персонала
занимается отдел кадров.
10.
Коммерческий директор руководит
отделом сбыта.
11.
Главный бухгалтер
отчитывается перед начальником финансового отдела.
12.
Какой отдел запускает в
производство новые модели.
1. I work in the advertising department and am
responsible for promoting the product on the market.
2. The head of the planning department reports to the
head of the production department.
3. Mr. Bright runs the supply department.
4. Who is engaged in market research?
5. The head of the HR Department reports to the CEO.
6. This company produces personal computers.
7. Who is responsible for public relations?
8. The Research and Development Department is
responsible for the development of new products.
9. Recruitment is handled by the Personnel Department.
10. The Commercial director directs the sales
department.
11. The Chief Accountant reports to the head of the
Finance Department.
12. Which department launches new models into
production.
8.
Match the names of the departments (1-9) with the phrases (a-i) to make a short
description of each department.
1.
Sales and marketing
2.
Information technology
3.
Customer services
4.
Human resources
5.
Purchasing
6.
Production
7.
R&D
8.
Finance
9.
Distribution
a. transports the
products.
b. pays the salaries.
c. sells the products.
d. makes the products.
e. looks after the
computers.
f. thinks of ideas for new
products.
g. recruits new staff.
h. processes orders from
customers
i. buys parts from
suppliers.
1. Sales and
marketing-c
2. Information
technology-e
3. Customer
services-h
4. Human resources -g
5. Purchasing-i
6. Production-d
7. R&D-f
8. Finance-b
9. Distribution-a
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What sort of company is it?
Charity |
an |
Company |
an |
Cooperative |
a |
Enterprise |
a |
Government |
an organization which is |
Holding |
a |
Limited |
a |
Minority |
company |
Multinational |
an |
Nationalized |
company owned by the |
Offshore |
a firm based in a tax |
Operation |
a |
Parent |
a |
Partnership |
two |
Private |
a |
Public |
a |
Society |
a |
Subsidiary |
firm owned by a parent |
Comprehension check
I. Give English equivalents to the following:
Bести дело; партнер
с ограниченной юридической ответственностью;
ча-стная собственность; получать льготы
по налогообложению; быть юридически
ответственным; недвижимость; выпускать
акции; привлекать финансовые ре-сурсы;
привлекать большой капитал; акционер,
держатель акций; повторно ин-вестировать;
предлагать высокие оклады; оплата
расходов; сертификат акций; держатели
акций; акционерный (долевой) способ
формирования денежного фонда; образование
денежного фонда с помощью займа; ценность
(стоимость) акции; фиксированный процент
(доля); единоличное владение; товарищество;
собственник, владелец; юридически;
хозяйственная единица; прибыль; убытки;
обязательства; ответственность;
акционерный капитал.
II.
Complete the sentences using the words given:
Possessions,
adjustment, proprietor, failure, headings, enterprise, efficiency,
ownership, conditions, flexible, failure, liability, debts,
decisions, responsible.
-
The
different types of business organization may be classified under
five … . -
This is the simplest and the
oldest form of business … . -
A single person is
solely…for the success or … of the business. -
His … is unlimited.
-
… and control are vested
in one person. -
This type
of organization is extremely … and capable of quick … to change
in market … . -
The owner is personally
liable for the … incurred by his firm. -
All his … are at risk.
-
A single person provides the
capital, takes the …, and assumes the risks.
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