рефераты конспекты курсовые дипломные лекции шпоры

Раздел Философия
/
Text study

Реферат Курсовая Конспект

Выберите учебное заведение

Text study

Text study - раздел Философия, Учебно-методическое пособие «Economics and Plant Management» The Size Of A Firm Can Be Measured In Different Ways. Popular...

The size of a firm can be measured in different ways. Popular bases are:

– profit;

– turnover;

– number of employees;

– capital employed;

– market share.

Firms grow through internal or organic growth: this expansion is achieved through extra finance and reinvesting (ploughing back) profits, with the firm expanding its product range or moving into new markets. It is a slow process, so many firms seek to grow more quickly through merger or takeover. Mergerstake place between two firms agreeing to join together. Takeoversoccur when one company purchases sufficient voting shares in another company to give it control of that company.

Firms are able to grow more quickly as a result of mergers and/or takeovers. The integration that takes place as a result of the new company reorganizing its activities can be:

– Horizontal: this occurs when firms in the same industry and at the same stage of production (primary, secondary or tertiary) combine − for example, two vehicle manufacturers may merge production. Larger-scale production and economies of scale should result from this integration.

– Vertical: this occurs between firms in the same industry but at different stages of production − an example is a brewery (secondary) taking over a public house (tertiary). Advantages include greater control of supply (if integration is “backwards”) and better access to the market (if “forwards”).

– Lateral: also known as conglomerate integration, this occurs when a company moves into a new product area or market as a result of the merger/takeover. This leads to greater diversification, which reduces the risk for the company: it is now not as dependent on one market or one product.

Growth requires financing. In the public sector, the major sources of finance for a public corporation are from its own trading activities, general taxation and borrowing from the Treasury. In the private sector, there are many different sources of finance available to firms. These can be either short term or long term, and can arise from internalsources or be obtained from external sources.

The key internal source of finance is retained profits. Owners must make a choice: do they spend net profit by withdrawing it out of the firm (including issuing it as dividends), or do they keep it in the firm (more cash is kept in the firm which helps expansion)?

The main external long-term source of finance is capital invested. Sole traders and partners find their own capital, for example from personal savings. Companies issue shares, the two main types being:

– Ordinary: “equity” capital, giving a vote at the Annual General Meeting (AGM), with the shareholder receiving a variable rate of dividend after all other dividends and payments have been made out of profits.

– Preference: the shareholder receives a fixed dividend after debenture interest and other deductions are made, but before the ordinary dividend is declared – these are therefore less of a gamble than ordinary shares, but the owner does not have a vote.

A company may also obtain long-term loan capital by issuing debentures. These long-term loans receive interest which must be paid (whereas a dividend does not have to be paid). Debenture holders are not owners of the company in the same way that shareholders are.

In addition to share and loan capital, the major external sources of finance include:

1. Trade credit: taking advantage of the credit period allowed by suppliers.

2. Factoring: the firm sells its debts for less than their face value to a factoring company, receiving immediate cash.

3. Bank overdrafts: based on a current account, the owner(s) can overdraw up to an agreed maximum figure.

4. Bank and other loans: longer term than overdrafts, for a fixed amount and for a fixed period.

5. Leasing: the firm agrees with a finance house to lease capital equipment, to avoid the cost of buying it. Hire purchase and credit sale agreements can also be used by the firm to finance the purchase of fixed assets.

Finance is vital to a firm, both for growth and for survival. The owners will forecast their cash-flows to see whether they can meet their debts out of cash inflows, or whether they need to make arrangements to borrow money. Companies are now obliged to produce a cash-flow analysis as part of their published accounts.

Развернуть

Открыть в широком формате

– Конец работы –

Эта тема принадлежит разделу:

Учебно-методическое пособие «Economics and Plant Management»

Учебно методическое пособие Economics and Plant Management представляет собой комплекс текстов по экономической тематике из оригинальных... Пособие состоит из разделов Первый раздел включает тексты предваряемые... Второй раздел состоит из текстов предназначенных для развития навыков монологической и диалогической речи Обширная...

Если Вам нужно дополнительный материал на эту тему, или Вы не нашли то, что искали, рекомендуем воспользоваться поиском по нашей базе работ: Text study

Что будем делать с полученным материалом:

Если этот материал оказался полезным ля Вас, Вы можете сохранить его на свою страничку в социальных сетях:

Все темы данного раздела:

Text study
A basic understanding of economics is essential if we are to be well informed citizens. It is characteristic of any society that while wants of people are growing constantl

Language practice
I. Mind the use of the words: economy, economics, economic, economical, economize. 1. 5,3 million people contribute to the economy of Belarus. Britain’s economy

Word list
Tertiary – третий, в-третьих; community services – коммунальные службы, услуги; emergency services – экстренные службы (полиция, пожарные); to result from - вытекать, происходить в результате, быть

Text study
Organizations in the economy are classified according to what they produce or provide: – primary: extractive industries such as the “3 Fs” − f

II. Complete the sentences below using the information of the text
1. Organizations that manufacture products or construct roads, buildings are called … . 2. Private … firms are owned by individuals who hope to make a profit. 3. Land, …, … and enterprise are facto

IV. Answer the following questions
1. According to what are organizations in the economy classified? 2. What can you say about primary organizations? 3. What do secondary organizations do? 4. What kind of services do tertiary organi

II. Complete the blanks
1. An economist cannot … what will happen in future in the economic domain. 2. Economic laws are true under certain given … . 3. Economic laws tell the direction of … which is expected. 4. Complex

Language practice
I. Mind the following words and phrases. 1. Сoin, credit, currency, purchasing power, constant store of value, measure, commodity, inflation, transaction, rapidity, pr

Language practice
I. Mind the use of the words: requirements, deposit, check clearing, reserves, assets. 1. Central bank imposes reserverequirements. 2. Commercial banks promise to p

Language practice
I. Mind the use of the words: vary, variable, varied, various, variety, variation. 1. Conditions on that market are stable and do not vary very much from year t

Language Practice
I. Mind the following words and phrase. Exhibit, exhibition, exposition, exhibitor, exposure, display, attendance, showcase, show, dedicate, agent, examine, hold, merc

Language Practice
I. Mind the following words advertising, advertisement, publicity, public relations, ads, brand, promote, trademark. 1. Advertising means making a product or service known to

Word list
Legal structure – правовая, законодательная структура; objective – цель, задача; to be associated with – быть связанным с, относиться к; profit – прибыль, доход, польза; profit motive – стимул к по

Text study
Organizations in the UK economy can be classified according to their choice of legal structure, the sector in which they operate, and their business objectives. Two key con

Language practice
I. Match the words their definitions. a) liability 1) one who shares something with another b) business 2) a general inclination, direction or

Word list
Profit – прибыль, доход, польза, выгода; turnover – товарооборот, оборачиваемость; market share – доля рынка; expansion – увеличение, рост, развитие; reinvesting – реинвестирование;

Language practice
I. Match the words their definitions. a) profit 1) material wealth in the form of money or property

Word list
Production costs – заводская себестоимость, издержки производства; fixed costs – фиксированные расходы; output – выпуск, объём производства, выработка, производительность; rent – арендная плата; sa

Text study
One important way to classify production costs is to divide them into fixed and variable. Fixed costs do not change as output changes: examples include facto

II. Complete the sentences below using the information of the text.
1. Costs which do not change as output changes are called … costs. 2. Costs which have both a fixed and a variable element are called … costs. 3. The difference between the selling price and the va

Word list
Accounting – бухгалтерское дело, учёт, расчёт, начисление; account – счёт, учёт; accountant – бухгалтер, счетовод, учётчик; ledger – бухгалтерская книга, регистрационный журнал; sal

Balance Sheet
Purpose: To show the firm’s financial position. Contents: Assets (items owned by the firm) and Liabilities (items owed by the firm): capital expenditure. A

Language practice
IMatch the words to their definitions. a) Sales Ledger 1) it is the main liquidity ratio

Word list
Human relations – взаимоотношения между членами коллектива; efficient – эффективный, умелый, квалифицированный; workforce – рабочая сила, трудовые ресурсы; recruit – нанимать на раб

Text study
All firms depend for their survival on a contented and efficient workforce: its human resource. A firm’s Personnel function manages its human resources.

I. Match the words to their definitions.
a) staff 1) a formal agreement between two or more parties b) vacancy 2) one in charge of managing an enterprise or busin

Word list
Marketing function – маркетинговая функция; consumer – потребитель; to promote – продвигать, раскручивать, содействовать продаже; market research – изучение возможностей рынка; fiel

Text study
The marketing function has two key roles to play in a firm. – It collects and analyses data from the firm’s markets and from its consumers. – It promotes and suppo

Language practice
I. Match the words to their definitions. a) market 1) a person who buys services or goods

IV. Answer the following questions
1. How many key roles does the marketing function have? 2. What does collecting and analyzing data involve? 3. How are data collected? 4. What research collects original data exclusively for this r