Ex. 10. Fill in the gaps with an appropriate word.
DESCRIBING COMPANY STRUCTURE
VOCABULARY
officer - служащий из числа руководящего состава
articles of incorporation – устав корпорации
Chief Executive Officer (CEO) – главный управляющий директор
to implement – исполнять, приводить в исполнение
Chief Operations Officer (COO) – исполнительный директор
providing feedback – обеспечивая обратную связь
Chief Finance Officer (CFO) – финансовый директор
reviewing - проверка
financial performance – финансовое состояние
monitoring – контроль
to keep records –вести учет документов
regulatory bodies – управляющие органы
minutes – протокол (собрания, заседания)
ownership interest – доля участия в капитале компании
stock certificate – свидетельство на долю участия в акционерном капитале
stock plan – программа продажи акций
A typical corporation's structure consists of three main groups: directors, officers, and shareholders. The roles and responsibilities of these groups are described in more detail below.
Board of Directors
All the directors together are the board.
One of the first steps a new corporation will take is to name the members of its board of directors. Usually, directors are identified in the "articles of incorporation". They are elected by shareholders at annual meetings.
The board of directors "directs" the corporation's affairs. The number of directors usually depends on the size of the business. A small corporation might have one director, while a large corporation may have 10 or more people. For voting purposes, a corporation with more than one director should keep an odd number (3, 5, 7, etc.) of directors on its board.
Corporate Officers
Officers are usually appointed by the corporation's board of directors and include:
Chief Executive Officer (CEO) – As the top manager, the CEO is typically responsible for the entire operations of the corporation and reports directly to the chairman and board of directors. It is the CEO's responsibility to implement board decisions and initiatives and to maintain the smooth operation of the firm, with the assistance of senior management.
Chief Operations Officer (COO) – Responsible for the corporation's operations, the COO looks after issues related to marketing, sales, production and personnel. The COO looks after day-to-day activities while providing feedback to the CEO. The COO is often referred to as a senior vice president.
Chief Finance Officer (CFO) – Also reporting directly to the CEO, the CFO is responsible for analyzing and reviewing financial data, reporting financial performance, preparing budgets and monitoring expenditures and costs. The CFO presents this information to the board of directors at regular intervals and provide this information to shareholders and regulatory bodies.
Secretary. The corporation's Secretary is in charge of maintaining and keeping corporation's records, documents and "minutes" from shareholder meetings.
Shareholder
A corporation's shareholders have an ownership interest in the company, by having money invested in the corporation.
Whatever the number of shareholders in a corporation, each shareholder usually receives a stock certificate from the corporation, identifying the number of shares held by the investor.
Corporations usually hold annual shareholder meetings, at which the shareholders elect the corporation's directors. Special shareholder meetings may also be held in rare situations, when significant corporate actions require shareholder approval – including major transactions and changes in the corporation's stock plans.
WORD STUDY
Ex. 9. Replace the words in italics by synonyms from the text.
1. Usually, directors are identified in the Charter.
2. The COO is responsible for day-to-day activities.
3. One of the first steps a new corporation will take is to nominate the members of its board of
directors.
4. It is the CEO's responsibility to fulfill board decisions and initiatives and to uphold the smooth
operation of the firm.
5. Special shareholder meetings may also be held in rare situations, when important corporate
actions need shareholder approbation.
6. A typical corporation's structure is composed of three main groups.
7. The CFO is responsible for analyzing and examiningfinancial data, reporting financial
performance, preparing budgets and controlling expenditures and costs.
Ex. 10. Fill in the gaps with an appropriate word.
| minutes | position | senior |
| meeting | board of directors | Chairman |
| appointed | budget | responsible |
| report | corporation | manager |
1. The company is run by a _________________________.
2. Has everyone seen the _________________ of last month's meeting?
3. He works for a large American ______________________.
4. The ___________________ of the airline accepted full responsibility for the accident.
5. A committee was ___________________ to consider the plans.
6. She has held the ____________________ of Chief Financial Officer since 1992.
7. Our department is __________________ for marketing.
8. He will _________________ to Greg Carr, Boston Technology's chief executive.
9. White men hold most of the jobs in ____________________ management.
10. The project was completed within ____________________.
11. She's now assistant marketing __________________ for the south east area.
12. Are you coming to the committee ___________________ this evening?
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