ORGANIZATIONS 2 BUSINESS VOCABULARY IN USE

 

BUSINESS VOCABULARY IN USE 12. ORGANIZATIONS 2

 

A Self-employed people and partnerships. I’m a freelance graphic designer, a freelancer. That means I work for myself – I’m self-employed. To use the official term, I’m a sole trader. Note: you usually describe people such as designers and journalists as freelancers, and people such as builders and plumbers as self-employed. B Limited liability C Mutuals Some companies, like certain life insurance companies, are mutual. When you buy insurance with the company you become a member. Profits are theoretically owned by the members, so there are no shareholders. D Non-profit organizations Organizations with ‘social’ aims such as helping those who are sick or poor, or encouraging artistic activity, are non-profit organizations (BrE) or not-for-profit organizations (AmE). They are called charities, and the form of voluntary sector, EXERCISES 12.1 Look at the words in A and B opposite. What type of organization is each of these? 1. A group of engineers who work together to provide consultancy and design services. There are no outside shareholders. 2. A large British engineering company with 30,000 employees. Its shares are bought and sold on the stock market. 12.2 Complete this newspaper article with the correct form of the words from C opposite. One expression is used twice. ANGRY SCENES AS MEMBERS REJECT (1) ………………… There were angry scenes at the Suffolk (2) …………………’s annual meeting as the society’s (3) ………………… rejected by two to one a recommendation that the society be (4) ………………… . Members had travelled from all over the country to attend the meeting in London. The Suffolk’s chief executive, Mr Andrew Davies, said ‘This is a sad day for the Suffolk. 12.3 Match the sentence beginnings (1-5) to the correct endings (a-e). The sentences all contain expressions from D opposite. 1 British companies donate around £500 million a year to charities a with loss-making companies! 2 She organized fund-raising b in cash and, increasingly, as goods, services and time.

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