【正文】
? Slower decision making than sole trader 11 Corporations 公司 The corporation is a legal entity(法人實(shí)體) , allowed by legislation, which permits a group of people, as shareholders (forprofit panies) or members (nonprofit panies), to create an anization, which can then focus on pursuing set objectives, and empowered(授權(quán)與) with legal rights which are usually only reserved for individuals, such as to sue and be sued, own property, hire employees or loan and borrow money. 公司是依公司法的規(guī)定設(shè)立的法人組織,具有獨(dú)立的法人資格,有權(quán)以自己的名義擁有財(cái)產(chǎn)、享有權(quán)利和承擔(dān)義務(wù)。Chapter 1 Forms of Business Ownership Introduction to Business English 1 This chapter is easy to read. Please follow the instructions to read the text. 本章重點(diǎn): 1. 各種企業(yè)產(chǎn)權(quán)形式的定義 2. 各種產(chǎn)權(quán)形式的優(yōu)劣勢(shì) 3. 股份公司與有限公司的區(qū)別 2 Please find the definitions of the following terms in your textbook. ? Sole Proprietorships ? Partnerships ? Corporations ? Limited Liability panies ? Joint Venture ? Mergers Acquisitions ? Franchises 3 Sole Proprietorship 個(gè)人企業(yè) ? An anization that is owned, and usually managed, by one person is called a Sole Proprietorship. ? 個(gè)人企業(yè)即獨(dú)資經(jīng)營企業(yè),是由一名出資者單獨(dú)出資并從事經(jīng)營管理的企業(yè)。 Owner=Business 4 Store or supermarket? ? One can of Coca Cola is sold at ¥ in the convenient store on campus, while the same product is sold at ¥ in the supermarket in the downtown 3 kilometers away. Why do some people prefer patronizing the store rather than the supermarket? 5 Sole Proprietorship Advantages: ? Can make decisions quickly ? Keeps all the rewards ? Easy to set up ? Privacy of business affairs Disadvantages: ? Limited sources of finance (e. g. own funds) ? Unlimited liability, . can lose personal assets ? Often has limited managerial skills ? No one to share workload and ideas with 6 Partnerships ? A partnership is a legal relationship between at least two persons carrying on a profitmotivated business. ? 合伙企業(yè)是由兩人以上組成,在合伙人之間訂立合伙協(xié)議,共同出資、合伙經(jīng)營、共享收益、共擔(dān)風(fēng)險(xiǎn),并對(duì)合伙企業(yè)債務(wù)承擔(dān)無限連帶責(zé)任的營利性組織。 12 Forprofit and nonprofit corporation Corporations Forprofit Corporations (營利性公司) Nonprofit Corporations (非營利性公司) Shareholders (股東) Members (會(huì)員) 13 Fortune Global 500 2023: 14 Corporations Advantages: ? Limited liability ? Skilled management team ? Transfer of ownership ? Greater capital base ? Stability Disadvantages: ? Multiple taxation ? Difficulty and expense of starting ? Government involvement ? Lack of secrecy ? Lack of personal interest ? Credit limitations 15 Discussion: what types of corporations are the following panies? ? Beijing Municipal Engineering Company: ? Microsoft Corporation in China: ? Vanke(萬科): ? Huawei: ? Sina in the : ? One Foundation: ? Sinopec Group: ? Parkson Retail Group Limited in Hong Kong: ? Gree: ? Stateowned, municipal,domestic