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Advantages of Ltd. over PLC.

Advantages of Ltd. over PLC.

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Advantages of Ltd. over PLC.

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  1. Advantages of Ltd. over PLC. • There are many advantages of Ltd. over PLC. Although both types of companies represent ownership by shareholders, shares of private limited companies are not offered to general public. That ensures a higher level of control for the owners. Furthermore, disclosure of accounts, which is obligatory for public limited companies, is not necessary in Ltd. Finally, there is no possibility of takeovers, which is a big disadvantage of PLC.

  2. A pg. in favour of taxation and government spending • Taxation is necessary. Firms require roads for their staff and suppliers, so the function of the government is to provide infrastructure. Furthermore, the government should also provide merit goods, such as education, because firms need educated and qualified staff. Moreover, the society creates conditions under which financial success is possible, so it can rightfully claim a share in success. To conclude, government spending can raise the standard of living for the whole population.

  3. A pg. in favour of taxation and government spending • The government imposes taxes in order to collect the money for various purposes. Althoughsome people tend to complain about high tax rates, without tax revenue, the state would not be able to providefree public education or free health care, which are extremely important, especially for the underclass. Moreover, governments may choose to use the money to revamp the railroads, to upgrade roads or to simply improve the quality of other merit goods. To conclude, the money that comes from taxes plays a vital role in all mixed economies, but its adequate allocation is crucial.

  4. Hw check • Collocations • Phrases with prepositions

  5. Collocations (v + noun phrase) • set • achieve • allocate • employ • modify • balance • develop • manage • establish • maintain

  6. Collocations (v + noun phrase) • set • achieve • allocate • employ • modify • balance • develop • manage • manage • establish • maintain objectives, standards objectives resources resources objectives today’s objectives against ... human resources (top m.) impact on the environment social responsibilities good relationships good relationships

  7. Phrases with prepositions • (sub-)divide ________ tactics • attached _____ sth. • it will follow ________ this • balance sth. ___________ sth. • impact ____ sth. • to be _____ stand by • deal _____ sth. • advised / displaced / reviewed ____ the Board • companies _____ wide share ownership • ____ reality

  8. Phrases with prepositions • (sub-)divide _into_ tactics • attached _to_ sth. • it will follow _from_ this • balance sth. _against_ sth. • impact _on_ sth. • to be _on_ stand by • deal _with_ sth. • advised / displaced / reviewed _by_ the Board • companies _with_ wide share ownership • _in_ reality

  9. People involved in corporate structure • Shareholders • Managersp___ , organize, i________, measure & d_______ (P. Drucker, 1977) • Workforce

  10. People involved in corporate structure • Shareholders • Managersplan , organize, integrate, measure & develop (P. Drucker, 1977) • Workforce

  11. Do you prefer to work alone or in a team? • Is it better to have one immediate boss or to work for more than one manager? • What do you prefer: to be responsible to someone for your work, or to be responsible for people who report to you?

  12. →MK, p 22 • Vocabulary

  13. Read Company structure (MK, p 22-23)... ... and match ideas to paragraphs Contemporary businesses are too complex for hierarchies Disbanded as soon as project is finished 4 factors leading to flat hierarchies Departments clash as they have different objectives Direct communication among departments Knowing who your superior is Middle management replaced by IT systems → Comprehension → Vocabulary

  14. HW: Summarize the text in note form! (MK 22-23) • If you like, use the following headings: Hierarchical structure (don’t forget to define it) advantages disadvantages Functional structure (don’t forget to define it) advantages disadvantages Flattening hierarchies 4 reasons: Matrix managementHAND IN NEXT WEEK Teams

  15. https://www.youtube.com/watch?v=Wa5BfgJWb3o

  16. Workforce: employees /staff / personnel / human resources / labour senior staff ≠ junior staff higher-positioned ≠ lower-positioned superiors ≠ subordinates Mary is Kate’s superior. Kate is Mary’s subordinate.

  17. Vocabulary focus: DIVISION OF RESPONSIBLITIES What are you responsible for? What are you in charge of? What are your responsibilities?

  18. CHAIN OF COMMAND AND LINE AUTHORITY Useful vocabulary: superiors & subordinates In how many ways can you ask: Who is your superior? = Who do you r_ _ _ _ _ to? Who are you res _ _ _ _ _ ble to? Who are you acc _ _ _ _ _ ble to? Who are you s _ _ _ _ _ _ _ _ _ _ to? Who do you r _ _ _ _ _ _ instructions from?

  19. CHAIN OF COMMAND AND LINE AUTHORITY Useful vocabulary: superiors & subordinates In how many ways can you ask: Who is your superior? = Who do you report to? Who are you responsible to? Who are you accountable to? Who are you subordinated to? Who do you receive instructions from?

  20. Who can appoint you? promote remove dismiss AND IF YOU ARE THE SUPERIOR... • Who reports to you? Who is accountable to you? Who do you give instructions to?

  21. DELEGATION Are responsibilities delegated? Centralised decision-making vs. Decentralised decision-making

  22. ORGANIZATIONAL UNITS The companyconsists of… is c_ _ _ _ _ _ d of… is d _ _ _ _ _d into… is made _ _ of… c_ _ _ _ _ ns ... in_ _ _ _es… …departments (function-based: production dept.), ... divisions (product / market-based: Food division, Asian division), ... sectors, sections, business units, arms…

  23. ORGANIZATIONAL UNITS The companyconsists of… is composed of… is divided into… is made up of… contains ... includes … …departments (function-based: production dept.), ... divisions (product / market-based: Food division, Asian division), ... sectors, sections, business units, arms… → RB, p 36– I - listen and fill in, II & III HW, p 37 do exercises IV & V (for tmw) Challenge → Reader, p 38 Earn 3 bonus points: Get ready to talk about one text

  24. COMPANY DEPARTMENTS PRODUCTION CUSTOMER SERVICE ADVERTISING LEGAL ACCOUNTS PERSONNEL (HR) MARKETING FINANCE PUBLIC RELATIONS (PR) RESEARCH & DEVELOPMENT (R&D) MAINTENANCE DISTRIBUTION QUALITY CONTROL INFORMATION TECHNOLOGY (IT) etc. …deals with …is in charge of …is responsible for

  25. WHICH COMPANY DEPARTMENT IS IN CHARGE OF…? money paid, received, borrowed, or owed promoting, selling and distributing products or services of its company discovering new knowledge about products, to create new and improved products recruiting new staff & administrative aspects of the employees legal advice to other departments in the company actual construction and preparation of products

  26. Wikinomics • MK, p 21 • Read the text and answer the questions

  27. HW • Don’t forget to summarize the text on company structures – hand in next week • RB, p 37 - tomorrow

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