Entrepreneurs and Entrepreneurship
(Part I)
Anyone who owns and operates a business is often considered to be an entrepreneur. Entrepreneurs and small business owners are motivated by the possibility of earning profits. They also accept the risk of losing money if their businesses fail.
The word entrepreneur originates from the French word, entreprendre [ֽOntrə`prə:nd], which means “to undertake.” In a business context, it means to start a business. The behavior of the entrepreneur reflects a kind of person willing to put his or her career and financial security on the line and take risks in the name of an idea, spending much time as well as capital on an uncertain venture.
Although the term is typically used to refer to anyone who owns or operates a small business, it has a more specific meaning. French economist Jean [Gi:n] Baptiste Say, who coined this term in 1800, used it to describe a very important activity. An entrepreneur, Say explained, is a person who is able to make decisions that allow more efficient use of economic resources.
Thus, in the truest sense of the word, entrepreneurs are people who develop ways to make more efficient use of resources in order to meet consumers’ needs and wants. An entrepreneur is a person who is willing and able to convert a new idea or invention into a successful innovation. Entrepreneurs enter business knowing that success is not guaranteed, and if plans fail, they could lose money.
Entrepreneurship is an incredible force. It is the engine of growth, jobs and opportunities. Entrepreneurship forces “creative destruction” across markets and industries, simultaneously creating new products and business models.
The essence of entrepreneurship is taking risk. Nevertheless, the concept of entrepreneurship has a wide range of meanings. On the one extreme an entrepreneur is a person of very high aptitude who pioneers change, possessing characteristics found in only a very small fraction of the population. On the other extreme of definitions, anyone who wants to work for himself or herself is considered to be an entrepreneur.
Indeed, entrepreneurial activities are substantially different depending on the type of organization that is being started. Entrepreneurship ranges in scale from solo projects to major undertakings creating many job opportunities. Many real-life entrepreneurs operate in teams rather than as single individuals.
Entrepreneurs have many of the same character traits as leaders. They need inspiration, motivation and sensibility. An entrepreneur is usually:
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· a positive thinker and a decision maker;
· has an enthusiastic vision, the driving force of an enterprise;
· exhibits extreme optimism in the decision-making processes;
· is prone to overconfidence and overgeneralizations.
Vocabulary Notes:
1. to undertake[ֽAndə`teık] / [ֽAndər`teık] –починати, братися; зобов’язуватися;
2. willing(to do smth)[`wılıŋ] – охочий; готовий щось зробити;
3. to putsmth.on the line [laın]–ризикувати (чимось);
4. financial security[faı`nænt∫əl sı`kjuərəti] – фінансова безпека;
5. to take risks[rısks] –брати на себе ризик;
6. in the name(of smth.)–в ім’я (чогось);
7. to coin[kOın] –творити; видумувати;
8. efficient[ı`fı∫ənt] –дійовий, ефективний; умілий, кваліфікований (про людину);
9. resource[rı`zO:s] / [`ri:sO:rs] –ресурс;
10. to convert[kən`və:t] –обертати, перетворювати (на, у – into);
11. incredible[ın`kredəbəl] –неймовірний, неправдоподібний;
12. engine[`enGın] –машина; мотор, двигун;
13. “creative destruction”[kri`eıtıv dı`strAk∫ən] –“креативне руйнування”;
14. simultaneously[ֽsıməl`teıniəsli] –разом, одночасно;
15. essence[`esənts] –суть, сутність, істотність;
16. an extreme[ık`stri:m] –крайність;
17. aptitude[`æptıtju:d] / [`æptıtu:d] –схильність; здібність; здатність;
18. to pioneer [ֽpaıə`nıə] / [ֽpaıə`nıər] – прокладати шлях, бути піонером; вести, керувати;
19. substantially[səb`stænt∫əli]–по суті; в основному; значною мірою; міцно, ґрунтовно;
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20. scale[skeıəl] –ступінь, рівень; масштаб; шкала;
21. part-time[ֽpα:t `taım] / [ֽpα:rt `taım] – на неповний робочий день; нештатний (про працівника);
22. major undertaking [`meıGə ֽAndə`teıkıŋ]–головна справа; велике підприємство;
23. inspiration[ֽınspə`reı∫ən] –натхнення; вдихання; вплив, надихання, стимулювання;
24. sensibility[ֽsentsə`bıləti] –чутливість; точність (приладу); сприйнятливість;
25. to exhibit [ıg`zıbıt] – показувати, виявляти, проявляти (настрій, почуття);
26. to be prone(to) [prəun]–бути схильним (до чогось);
27. overconfidence[ֽəuvə`kOnfıdənts] –самовпевненість; самонадіяність;
28. overgeneralizations[ֽəuvəֽGenərəlaı`zeı∫ən]– надмірне узагальнення.
Task 15. Tick the correct sentence.
| 1.Anyone who owns and operates a business is an entrepreneur. Not all small business owners are true entrepreneurs. | ____ ____ |
| 2.Entrepreneurs accept the risk, spending much time and money on uncertain ventures. Entrepreneurship is not a venturesome undertaking. | ____ ____ |
| 3.The word “entrepreneur” is of French origin. Etymology of the term “entrepreneur” is a matter of much debate. | ____ ____ |
| 4.The word “entrepreneur” was coined by Adam Smith. Jean Baptiste Say is credited for creation of the term “entrepreneur”. | ____ ____ |
| 5.Decisions made by entrepreneurs are based on extensive use of economic resources. True entrepreneurs are able to make decisions that allow more efficient use of economic resources. | ____ ____ |
| 6.The essence of entrepreneurship is investing money. The essence of entrepreneurship is taking risk. | ____ ____ |
| 7.The concept of entrepreneurship has a wide range of meanings. The concept of entrepreneurship has two major meanings. | ____ ____ |
| 8.Entrepreneurship is generally represented by freelancers. Entrepreneurship ranges in scale from solo projects to big businesses. | ____ ____ |
| 9.Many real-life entrepreneurs operate in teams rather than as single individuals. True entrepreneurs are always involved in solo projects. | ____ ____ |
| 10.Entrepreneurs have many of the same character traits as leaders. Entrepreneurship has nothing to do with leadership. | ____ ____ |
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Task 16. a)Find synonyms among the words and phrases from the text “Entrepreneurs and Entrepreneurship” (Task 14).
1.Job; 2.idea; 3.sense; 4.career; 5.concept; 6.a person; 7.meaning; 8.to create; 9.to accept; 10.to reflect; 11.new idea; 12.to exhibit; 13.prone (to); 14.incredible; 15.possibility; 16.to develop; 17.substantial; 18.innovation; 19.motivation; 20.engine (of); 21.opportunity; 22.willing (to); 23.to take risks; 24.to undertake; 25.an individual; 26.to enter business; 27.to put on the line; 28.to accept the risk; 29.driving force (of); 30.to start a business; 31.to have character traits; 32.to possess characteristics.
Task 17. a)Use the -tion suffix to form nouns from the following verbs.
| 1.To apply; | 3.to create; | 5.to inspire; | 7.to destruct; | 9.to motivate; |
| 2.to define; | 4.to invent; | 6.to operate; | 8.to innovate; | 10.to determine. |
b) Use the correct noun or verb forms in the sentences. Change the grammatical form of the words if necessary.
Apply
a) Theories are essentially meaningless without _____ in the real world.
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b) When you start work you must _____ what you have learned at college.
Define
a) A more technical _____ of “business” suggests production, distribution, and sale of goods and services for a profit.
b) The Act _____ “small companies” as firms with fewer than 25 employees.
Create
a) European Economic Area is a free-trade area _____ in 1994.
b) The government is to provide more money for job _____.
Invent
a) The best _____ are the simplest and most obvious.
b) Companies are _____ new ways of doing business together.
Inspire
a) When asked, “What is genius?” Thomas Edison replied, “99 percent perspiration and 1 percent _____.”
b) Be _____!
Operate
a) The company is seeking more funds to finance its _____.
b) The regulation _____ in favour of small businesses.
Destruct
a) The engineers had to _____ the rocket for safety reasons.
b) By doubling its prices, the industry sowed the seeds of its own _____.
Innovate
a) They have been the leaders in product _____.
b) We must constantly adapt and _____ to ensure success in a growing market.
Motivate
a) These systems can _____ employees to become more productive.
b) Our real _____ is to make a profit.
Determine
a) Thomas Edison displayed a high degree of curiosity and _____.
b) An orphan for many years, Gabrielle Coco Chanel was _____ to invent herself.
Task 18. Some words can be used both as a noun and a verb. Complete the table with the appropriate words from the text “Entrepreneurs and Entrepreneurship” (Task 14).
| № | ІМЕННИК | ДІЄСЛОВО | ПЕРЕКЛАД |
| 1. | Ризик | ризикувати; наважуватися, зважуватися (на щось); | ----------- |
| 2. | ризикована справа; авантюра; підприємство; сума, якою ризикують; ставка; | ризикувати (чимось), ставити на карту; відважуватися, зважуватися; насмілюватися, посміти; | ----------- |
| 3. | монета | карбувати; творити (нові слова); | ----------- |
| 4. | вживання; застосування; користування; право користування; мета, призначення; користь, вигода; | вживати, користуватися, застосовувати; споживати, витрачати; | ----------- |
| 5. | не(до)стача, брак, відсутність (of); необхідність (of); потреба, бажання; нужда, бідність; | хотіти, бажати; не вистачати, бракувати; вимагати; бути потрібним (необхідним); потребувати, відчувати необхідність; | ----------- |
| 6. | сила; дієвість, чинність | прискорювати, пришвидшувати (рух); додавати обертів (машині, мотору); напружувати; примушувати; нав’язувати; | ----------- |
| 7. | ринок; базар; торгівля; збут; ринкові ціни; амер. продовольчий магазин; | торгувати; купувати / продавати на ринку; реалізувати, збувати; знаходити ринок збуту; | ----------- |
| 8. | зразок; модель; макет; шаблон; | моделювати; створювати; формувати; | ----------- |
| 9. | піонер; перший поселенець (дослідник); першовідкривач; ініціатор; новатор; | прокладати шлях, бути піонером; вести, керувати. | ----------- |
Task 19. Fill in the blanks with the most appropriate terms from the box.
| market | inventor | inspiration | application | accomplished |
| creative | inventions | astounding | perspiration | determination |
Students of business can look toward Thomas Edison as a prime example of hard work. The volume of his work – 1,093 patents in 20 different areas – is (1)_____. Among his many (2)_____ were the incandescent light bulb, the phonograph, the alkaline storage battery, and the motion picture.
Edison found ways to use his knowledge in a practical way. His inventions were things that people could use. Edison once said, “An (3)_____ is essentially practical.” He felt that theories were essentially meaningless without (4)_____ in the real world. In the business world he was a realist; he would not (5)_____ a product without a firm belief that people would buy it because it was useful.
Edison displayed a high degree of curiosity and (6)_____. He immersed himself totally in the problem at hand, often working as many hours as necessary to find the solution. When asked, “What is genius?,” he replied, “99 percent (7)_____ and 1 percent inspiration.”
On the other hand, some of Edison’s ideas came about quite by accident while he was involved in other projects. Here the (8)_____ comes into play. Sometimes ideas come to us in a flash when our conscious minds are involved in other activities.
Although we cannot perhaps involve ourselves as totally in the (9)_____ process as Edison did, we can look at his life as an example of what can be (10)_____ due to hard work.
Task 20. Think and answer.
1. Who is considered to be an entrepreneur?
2. What are entrepreneurs motivated by?
3. What is the origin of the word “entrepreneur”?
4. What does the behaviour of the entrepreneur reflect?
5. When was the term “entrepreneur” coined?
6. Can any business owner be called an entrepreneur? Why?
7. What are entrepreneurs in the truest sense of the word?
8. Is entrepreneurship an incredible force?
9. How does entrepreneurship affect markets and industries?
10. What is the essence of entrepreneurship?
11. Does the concept of entrepreneurship have a range of meanings?
12. Can entrepreneurial characteristics be found in a large fraction of the population?
13. How do entrepreneurial activities range in scale?
14. Does entrepreneurship always suggest working solo?
15. What leadership qualities do entrepreneurs generally display?
Task 21. a)Give the nouns which correspond to the following verbs.
| 1.To manufacture; | 4.to broadcast; | 7.to produce; | 10.to educate; |
| 2.to accomplish; | 5.to nominate; | 8.to publish; | 11.to learn; |
| 3.to appreciate; | 6.to dedicate; | 9.to imagine; | 12.to train. |
b) Translate into Ukrainian paying special attention to the words in italics.
1.There are many successful entrepreneurs who didn’t need their college education. 2.While the founder of Mary Kay Inc. didn’t have a college education or any training, she successfully created a brand known throughout the world. 3.To date, nearly half a million women have started Mary Kay businesses, selling cosmetics. Their appreciation for Mary Kay Ash is unwavering (непохитна; непорушна). 4.Simon Cowellis a British music and television producer, who had the idea for some popular television programmes. 5.With $1,000, dedication and desire, Michael Dell dropped out of college at age 19 to start PC’s Limited, later named Dell, Inc. 6.She works in broadcasting. 7.Having dropped out of high school at 16, Walt Disney’s career and accomplishments are astounding. 8.The most influential animator, Disney holds the record for the most awards and nominations. 9.Disney’s imagination included cartoons and theme parks. 10.The Ford Motor Company is a world-known car manufacturer. 11.Michael Dell became the most profitable PC manufacturer in the world. 12.Several publishers are competing in the same market. 13.Gates and his wife are philanthropists, starting The Bill & Melinda Gates Foundation with a focus on global health and learning.
Task 22. Range the following factors according to their importance for achieving entrepreneurial success. Explain your choices.
| 1. inspiration 2. imagination 3. appreciation 4. formal training 5. a college degree 6. thrill seeking spirit 7. business experience 8. entrepreneurial spirit 9. dedication and desire 10. outrageous business tactics | ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ |  most
least
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Task 23. Read and translate the following passages.
There are many successful entrepreneurs who didn’t need their college education and became millionaires anyway. Here are fifteen of them, both contemporary and from the past, in alphabetical order.
| 1. Mary Kay Ash[`meəri keı] (1915-2001). The founder of Mary Kay Inc. started a cosmetics business. While she didn’t have a college education or any training, she successfully created a brand known throughout the world. The company uses saleswomen who sell directly to customers, rather than in shops, and successful saleswomen are given pink Cadillacs [`kædılæks]. To date, nearly half a million women have started Mary Kay businesses, selling cosmetics. Their appreciation for Mary Kay Ash is unwavering. |
Vocabulary and Cultural Notes:
· Cadillac [`kædılæk] – trademark (informal Caddy) a very expensive and comfortable car. Cadillac vehicles are sold in over 50 countries and territories, but mainly in North America. Founded in 1902 as the Cadillac Automobile Company, it was purchased in 1909 by General Motors and over the next thirty years established itself as America’s premier luxury car. The Cadillac automobile was named after the 17th-century French explorer Antonie Laumet de la Mothe, Sieur de Cadillac, who founded Detroit [dı`trOıt] in 1701.
· appreciation [əֽpri:∫i`eı∫ən] – the feeling you have when you are grateful to someone;
· unwavering [An`weıvərıŋ] – strong and steady despite opposition or other problems;
| 2. Richard Branson[`rıt∫əd `brænsən] (1950-) is a British businessman who started the Virgin [`və:Gın] companies, which include a record company, an airline, a train company, and a financial services company which sells and provides advice about investments. Richard Branson is best known for his thrill seeking spirit and outrageous business tactics. He dropped out at the age of 16 and started his first successful business venture, Student Magazine. Today he is the owner of the Virgin brand and its 360 companies. Branson is seen as different from the typical businessman, because he has got long hair and does not wear a suit. He has also made several attempts to go around the world in a balloon. His official title is Sir Richard Branson. |
Vocabulary and Cultural Notes:
· thrill[θrıl] – a sudden feeling of being very excited and pleased;
· outrageous [ֽaut`reıGəs] – very shocking or unreasonable; extremely unusual and likely to shock people or make them laugh;
· to drop out – to leave something such as an activity, school, or competition before you have finished what you intended to do;
· Sir [sə:] – an honorific used as a title and in several other modern contexts. The form Sir is first documented in English in 1297, as title of honour of a knight or baronet. In formal protocol Sir is the correct styling for a knight or a baronet used with (one of) the knight’s given name(s) or full name, but not with the surname alone (e.g. “Sir James Paul McCartney”, “Sir Paul McCartney”, or “Sir Paul”, but never “Sir McCartney”). Richard Charles Nicholas Branson was knighted in 1999 for his “services to entrepreneurship.”
| 3. Coco Chanel[`kəukəu ∫ə`nel] (1883-1971) is a French fashion designer, who started the fashion company Chanel. Her clothes designs had a great influence on 20th century fashion, and she is known especially for a simple type of women’s suit and for the little black dress (a woman’s dress with thin shoulder straps made of a black usually silky material and worn to cocktail parties), which she invented. An orphan for many years, Gabrielle Coco Chanel trained as a seamstress. Determined to invent herself, she threw out the ideas that the fashion world deemed feminine, boldly using fabric and styles normally reserved for men. A perfume bearing her name, Chanel No. 5 kept her name famous. |
Vocabulary and Cultural Notes:
· little black dress – an evening or cocktail dress, cut simply and often with a short skirt, originally made popular in the 1920s by the fashion designer Coco Chanel. Many refer to it by the abbreviation LBD. The “little black dress” is considered essential to a complete wardrobe by many women and fashion observers, who believe it a “rule of fashion” that every woman should own a simple, elegant black dress;
· orphan [`O:fən] / [`O:rfən] – a person, especially a child, whose parents are both dead; sometimes used of a person who has one parent left alive;
· seamstress [`sempstrəs] / [`si:mpstrəs] – a woman whose job is sewing;
· to throw out (the ideas) – to put forward or offer;
· to deem [di:m] – to consider that someone or something has a particular quality;
· fabric [`fæbrık] – cloth, especially when it is used for making things such as clothes or curtains;
| 4. Simon Cowell[`saımən `kauəl] (1959-) is a British music and television producer, who had the idea for the popular television programmes Pop Idol in Britain, and American Idol in the US. He also acted as a judge for these programmes and for World Idol. Simon Cowell started in a mailroom for a music publishing company. He has since become an Artist and Repertoire (A&R) [`repətwα:] executive for Sony BMG in the UK, and a television producer and judge for major television talent contests. He is known for saying cruel things to the people who sing in the competitions, so that he is sometimes called Mr Nasty or Judge Dread. He is also known for saying, “I don’t mean to be rude, but …” just before saying something rude. |
Vocabulary and Cultural Notes:
· Pop Idol [pOp `aıdəl] – was a British television series which debuted on ITV on October 5, 2001; the show was a talent contest to decide the best new young pop singer, or “pop idol”, in the United Kingdom, based on viewer voting and participation. A second series was broadcast in 2003. The Idol series has become an international franchise.
· American Idol – (titled American Idol: The Search for a Superstar in the first season) is a reality competition to find new solo musical talent. It debuted on June 11, 2002, and has since become one of the most popular shows on American television. It is a part of the Idol franchise.
· World Idol – was the title of a one-off international version of the television show Pop Idol, featuring winners of the various national Idol shows around the world competing against each other. The performance show was held in the UK on December 25, 2003.
· mailroom [`meıəlru:m] – the department of a company that deals with sending and receiving mail;
· Artist and Repertoire (A&R) [`α:tıst ənd `repətwα:] – the division of a record label that is responsible for talent scouting and the artistic development of recording artists. It is responsible for discovering new recording artists and bringing them to the record company. They are expected to understand the current tastes of the market and to be able to find artists that will be commercially successful;
· Sony BMG – Sony BMG Music Entertainment – was a global recorded music company with a roster of artists that included a broad array of both local and international superstars, as well as a vast catalogue that comprised some of the most important recordings in history. Sony BMG Music Entertainment was a 50–50 joint venture between the Sony Corporation of America and Bertelsmann AG. The venture’s successor, the again-active Sony Music Entertainment, is 100% owned by the Sony Corporation of America.
· nasty [`nα:sti] – unkind or offensive; saying or doing unkind things to people;
· dread [dred] – frightening or worrying; annoying or making you embarrassed;
| 5. Michael Dell [`maıkəl del] (1965-). With $1,000, dedication and desire, Michael Dell dropped out of college at age 19 to start PC’s Limited, later named Dell, Inc. Dell became the most profitable PC manufacturer in the world. In 1996, The Michael and Susan Dell Foundation offered a $50 million grant to the University of Texas at Austin to be used for children’s health and education in the city. |
Vocabulary and Cultural Notes:
· PC’s Limited – a company, which was started in 1984 by Michael Dell who had just one thousand dollars in his pocket. From his university dorm room Dell started building and selling personal computers from stock computer parts. In 1988 PC’s Limited had a name change to “Dell Computer Corporation”.
· Michael and Susan Dell Foundation – a foundation established by Michael and Susan Dell in 1999. The foundation initially focused on improving education and children’s health in Central Texas; but their mission soon expanded to reach children globally. To date, the Michael & Susan Dell Foundation has committed more than $530 million to assist non-profit organizations working in major urban communities in the United States and India. Their focus is to directly and measurably transform the lives of children living in urban poverty.
· the University of Texas [`teksəs] – The University of Texas at Austin is a major research university home to more than 50,000 students, 2,900 faculty and 21,000 staff members.
· Austin [`Ostın] – is the capital of the U.S. state of Texas. It is the fourth-largest city in Texas and the 15th-largest in the United States. Residents of Austin are known as “Austinities” and include a diverse mix of university professors, students, politicians, musicians, state employees, high-tech workers, blue-collar workers, and white-collar workers. The main campus of the University of Texas is located in Austin.
| 6. Barry Diller [`bæri `dılə]. Fox Broadcasting Company was started by a college dropout, Barry Diller. Diller is now chairman of Expedia, and CEO of IAC/InterActiveCorp which includes Home Shopping Network and Ticketmaster. |
Vocabulary and Cultural Notes:
· the Fox Broadcasting Company (commonly referred to as Fox and stylized as FOX) – is an American television network owned by Fox Entertainment Group. Since its launch on October 9, 1986, Fox has grown from an upstart “netlet” to the status of the highest-rated broadcast In the 2007–08 season, Fox became the most popular network in America in general household ratings. In the 2008-09 season, it was placed second place in ratings, behind CBS. The network is named after sister company 20th Century Fox, and indirectly for producer William Fox, who founded one of the movie studio’s predecessors, Fox Film.
· Expedia [ık`spi:dıə] – is an Internet-based travel agency. It books airline tickets, hotel reservations, car rentals, cruises, vacation packages, and various attractions and services via the World Wide Web and telephone travel agents. Expedia was started by Microsoft, which they then spun off as a multi-billion dollar company because it was “no longer about software intensive technology” and they were “concerned that they would not do their best at this.”
· CEO – Chief Executive Officer; the person with the most authority in a large company.
· IAC/InterActiveCorp – is an internet company with over 35 consumer brands serving consumer audiences across 40 countries. IAC is operated by approximately 3,600 employees.
· Home Shopping Network – is a 24-hour basic cable shopping network that can be seen on cable, satellite, and some terrestrial channels in the United States. The company also operates HSN.com, an e-commerce operation.
· Ticketmaster Entertainment, Inc. – is a ticket sales and distribution company based in West Hollywood, California, USA, with operations in many countries around the world. All US ticket sales for US venues are fulfilled at the Ticketmaster sole fulfilment centre located in Charleston, West Virginia. Typically, Ticketmaster’s clients (arenas, stadiums, and theatres) control their events, and Ticketmaster simply acts as an agent, selling the tickets that the clients make available to them. Ticketmaster sells many of its tickets online, some via phone, and some through its many ticket outlets.
| 7. Walt Disney[wO:lt `dizni] (1901-1966) is a US film producer who started his own company in the 1920s, and is famous especially for making cartoon films for children, and for inventing some of the best-known cartoon characters, including Mickey Mouse and Donald Duck. His cartoon films include Snow White and the Seven Dwarfs [dwO:fs] and Fantasia. He also made many nature films and adventure films for children. His company continues to make popular films, especially for children. Having dropped out of high school at 16, Walt Disney’s career and accomplishments are astounding. The most influential animator, Disney holds the record for the most awards and nominations. Disney’s imagination included cartoons and theme parks. The Walt Disney Company now has annual revenue of $30 billion. |
Vocabulary and Cultural Notes:
· Mickey Mouse – is a comic animal cartoon character who has become an icon for The Walt Disney Company. Mickey Mouse was created in 1928 by Walt Disney and Ub Iwerks and voiced by Walt Disney. The Walt Disney Company celebrates his birth as November 18, 1928. Walt Disney got the inspiration for Mickey Mouse from his old pet mouse he used to have on his farm. “Mortimer Mouse” had been Disney’s original name for the character before his wife, Lillian convinced him to change it, and ultimately Mickey Mouse came to be.
· Donald Duck – is a cartoon character from The Walt Disney Company. Donald’s most famous personality trait is his easily provoked and occasionally explosive temper.
· According to the Disney canon Donald’s full name is Donald Fauntleroy[`fOntlərOı] Duck. Donald’s birthday is officially recognized as June 9, 1934. Donald’s voice, one of the most identifiable voices in all of animation, was performed by voice actor Clarence “Ducky” Nash up to his death in 1985. It was largely this semi-intelligible speech that would cement Donald’s image into audiences’ minds and help fuel both Donald’s and Nash’s rise to stardom.
· astounding [ə`staundıŋ] – extremely surprising or shocking.
· animator [`ænımeıtə] – someone who makes animated films or cartoons.
· annual revenue [`ænjuəl `revənju:] – the money that is received by a business within a period of one year usually from selling goods or services.
· theme park– an outdoor area containing amusements, such as games of skill and big machines to ride on, which are sometimes all based on a single subject (e.g. space travel).
| 8. Debbi Fields [`debi fi:əldz]. As a young, 20 year old housewife with no business experience, Debbi Fields started Mrs. Fields Chocolate Chippery. With a recipe [`resəpi] for chocolate chip cookies, this young woman became the most successful cookie company owner. She later renamed, franchised, then sold Mrs. Field’s Cookies. |
Vocabulary and Cultural Notes:
· recipe [`resəpi] – a set of instructions for cooking or preparing a particular food;
· franchise[`frænt∫aız] – a right that somebody buys from a company that allows them to do particular business activities, such as selling the company’s goods and services in a particular area;
| 9.Henry Ford [`henri `fO:d] (1863-1947) – a US businessman and engineer. At 16, Henry Ford left home to apprentice as a machinist [mə`∫i:nıst]. He started making cars in 1896. Ford’s first major success, the Model T, allowed Ford to open a large factory. He later started Ford Motor Company to manufacture automobiles. Ford developed the idea of the assembly line (= system in which each worker is responsible for one small part of the process of making something), and this made it possible to produce cars in large numbers. He designed the famous Model T Ford, and became one of the US’s richest and most successful businessmen. He is also known for saying “History is bunk”. |
Vocabulary and Cultural Notes:
· to apprentice(as) [ə`prentıs] – to be employed by another person in order to learn a particular type of work; to work for a skilled or qualified person in order to learn a trade or profession;
· machinist[mə`∫i:nıst] –someone whose job is to use a machine; a person who operates machines to cut or process materials;
· Model T Ford(colloquially known as the Tin Lizzie and Flivver) – is an automobile that was produced by Henry Ford’s Ford Motor Company from 1908 through 1927. The Model T set 1908 as the historic year that the automobile came into popular usage. It is generally regarded as the first affordable automobile, the car that “put America on wheels”; some of this was because of Ford’s innovations, including assembly line production instead of individual hand crafting, as well as the concept of paying the workers a wage proportionate to the cost of the car, so that they would provide a ready made market. The first production Model T was built on September 27, 1908, at the Piquette Plant in Detroit.
· the Ford Motor Company–is an American multinational corporation and the world’s fourth largest automaker based on worldwide vehicle sales. Based in Dearborn, Michigan [`mı∫ıgən], a suburb of Detroit, the automaker was founded by Henry Ford and incorporated on June 16, 1903. The Ford Motor Company was launched in a converted factory in 1903 with $28,000 in cash from twelve investors, most notably John and Horace Dodge (who would later found their own car company). Henry’s first attempt under his name was the Henry Ford Company on November 3, 1901, which became the Cadillac Motor Company on August 22, 1902. Henry Ford was 40 years old when he founded the Ford Motor Company, which would go on to become one of the world’s largest and most profitable companies, as well as being one to survive the Great Depression. As one of the largest family-controlled companies in the world, the Ford Motor Company has been in continuous family control for over 100 years.
· assembly line [ə`sembli] – a line of workers and machines in a factory that fit the parts of a product together in a fixed order;
· “History is bunk” =“Live in the present, not the past”;
| 10. Bill Gates[bıl geıts] (1956-). Ranked as the world’s richest person from 1995-2006, Bill Gates was a college dropout. He started the largest computer software company, Microsoft Corporation. Gates and his wife are philanthropists, starting The Bill & Melinda Gates Foundation with a focus on global health and learning. |
Vocabulary and Cultural Notes:
· dropout – someone who leaves a school or college without completing the course.
· Microsoft Corporation – is a United States-based multinational computer technology corporation that develops, manufactures, licenses, and supports a wide range of software products for computing devices. Headquartered in Redmond, Washington, USA, its most profitable products are the Microsoft Windows operating system and the Microsoft Office suite [swi:t] of productivity software. William Henry Gates III (known as Bill Gates) and Paul Allen founded Microsoft in New Mexico in 1975. The name of the company comes from MICROcomputer SOFTware. Microsoft’s original mission was “a computer on every desk and in every home, running Microsoft software.”
· philanthropist [fı`læntθrəpıst] – a person who helps those who are poor or in trouble, especially a rich person who gives generous gifts of money;
· The Bill & Melinda Gates Foundation(B&MGF) – is the largest transparently operated private foundation in the world, founded by Bill and Melinda Gates. The foundation is “driven by the interests and passions of the Gates family.” The primary aims of the foundation are, globally, to enhance healthcare and reduce extreme poverty; and in America, to expand educational opportunities and access to information technology. The foundation, based in Seattle, Washington is controlled by its three trustees: Bill Gates, Melinda Gates and Warren Buffet. In 2007 its founders were ranked as the second most generous philanthropists in America.
| 11. Milton Hershey [`mıltən `hə:∫i] (1857-1945). With only a fourth grade education, Milton Hershey started his own chocolate company. In 1900, Milton S. Hershey developed the recipe for what would become a great American classic. He was driven by the belief that everyone should be able to enjoy the great taste of milk chocolate, a privilege at the time only enjoyed by the wealthy. So he returned to his birthplace, Derry Church, PA (later to be named Hershey, PA) and located his chocolate manufacturing operation in the heart of Pennsylvania’s dairy country. Here he could obtain the large supplies of fresh milk needed to make pure milk chocolate. What he built turned out to be the world’s largest chocolate factory. Hershey’s Milk Chocolate became the first nationally marketed chocolate. Hershey also focused on building a wonderful community for his workers, known as Hershey, Pennsylvania. |
Vocabulary and Cultural Notes:
· Hershey’s Milk Chocolate – is America’s best-loved chocolate brand with a legacy of quality spanning over 100 years.
· community – a group of people living together and / or united by shared interests, religion, nationality etc.; the public; people in general;
· Hershey, Pennsylvania – is a community located 14 miles east of Harrisburg. It was originally named Derry Church, Pennsylvania. It was renamed Hershey in 1906 after the growing popularity of Hershey’s Chocolate. It is popularly called “Chocolatetown, USA.” Hershey is also referred to as “The Sweetest Place on Earth.” Milton S. Hershey dreamed of building the perfect town to live, work, and play for the employees of his chocolate company. Today, Hershey is a year-round, world-class resort destination offering deluxe [də`lAks] accommodations, unique culinary events, distinctive golf, a chocolate-themed spa, and top-name entertainment for families and guests of all ages.
| 12. Steve Jobs[sti:v GObz] (1956-2011). After attending one semester of college, Steve Jobs worked for Atari before co-founding Apple Computers. Now without the “Computers” in their name, Apple includes innovative products such as the iPod, iTunes, and the iPhone. Steve Jobs was also the CEO and co-founder of Pixar before it merged with Walt Disney. |
Vocabulary and Cultural Notes:
· Atari [ə`tα:ri] – is a corporate and brand name owned by several entities since its inception in 1972. It is currently owned by Atari Interactive, a wholly owned subsidiary of the French publisher Infogrames Entertainment SA.
· Apple Computers (Apple Inc.)– is an American multinational corporation that designs and manufactures consumer electronics and software products. Established by Steve Jobs, Steve Wozniak and Ronald Wayne, in Cupertino, California on April 1, 1976 and incorporated January 3, 1977, the company was called Apple Computer Inc. for its first 30 years, but dropped the word “Computer” on January 9, 2007.
· iPod – iPod is a brand of portable media players designed and marketed by Apple Inc. and launched on October 23, 2001 (2001-10-23). As of September 2008[update], more than 173,000,000 iPods had been sold worldwide, making it the best-selling digital audio player series in history. The name iPod was proposed by Vinnie Chieco, a freelance copywriter, who (with others) was called by Apple to figure out how to introduce the new player to the public. After Chieco saw a prototype, he thought of the movie 2001: A Space Odyssey and the phrase “Open the pod bay door, Hal!” which refers to the white EVA Pods of the Discovery One spaceship. Apple researched the trademark and found that it was already in use. Joseph N. Grasso of New Jersey had originally listed an “iPod” trademark with the U.S. Patent and Trademark Office in July 2000 for Internet kiosks. The first iPod kiosks had been demonstrated to the public in New Jersey in March 1998, and commercial use began in January 2000, but had apparently been discontinued by 2001. The trademark was registered by the USPTO in November 2003, and Grasso assigned it to Apple Computer, Inc. in 2005.
· iTunes–is a proprietary digital media player application, used for playing and organizing digital music and video files. The program is also an interface to manage the contents on Apple’s popular iPod digital media players as well as the iPhone. iTunes was introduced by Apple Inc. on January 9, 2001 at the Macworld Expo in San Francisco.
· iPhone – is an Internet-connected, multimedia smartphone designed and marketed by Apple Inc. Because its minimal hardware interface lacks a physical keyboard, the multi-touch screen renders a virtual keyboard when necessary. The iPhone functions as a camera phone (also including text messaging and visual voicemail), a portable media player (equivalent to a video iPod), and an Internet client (with email, web browsing, and Wi-Fi connectivity). Apple announced the iPhone on January 9, 2007, after months of rumours and speculation. The original iPhone was introduced in the United States on June 29, 2007 before being marketed worldwide.
· Pixar (Pixar Animation Studios) – is one of the most critically acclaimed film studios of all time. Pixar started in 1979 as the Graphics Group, a part of the Computer Division of Lucasfilm before it was bought by Apple co-founder Steve Jobs in 1986. The Walt Disney Company bought Pixar in 2006.
· to merge [mə:G](with) – (used especially about business organizations) to combine, or make two or more organizations combine, to form a single organization;
| 13. Rachael Ray [`reıt∫əl reı]. Despite having no formal training in culinary arts, Rachel Ray has made a name for herself in the food industry. With numerous shows on the Food Network, a talk show and cookbooks, high-energy Rachael doesn’t slow down. She has also appeared in magazines as well has having her own magazine debut [`deıbju:] in 2006. She knew she was a success when a website dedicated to bashing her was created. |
Vocabulary and Cultural Notes:
· formal training – an agreed standard of proficiency, acquired by study in academic institutions;
· culinary[`kAlınəri] arts– the system of rules or principles governing, relating to, or used in the kitchen or in cookery;
· Food Network – is a television specialty channel that airs specials and recurring (episodic) programs about food and cooking. The network is seen in more than ninety million households. Food Network was founded on November 23, 1993 as TV Food Network; its legal name is still Television Food Network, G.P. Within a few years, the network had shortened its on-air brand name.
· debut [`deıbju:] – the first public appearance of an actor, musician, etc., or the first public presentation of a show;
· bashing[`bæ∫ıŋ] – severe public criticism;
| 14. Ty Warner. Sole owner, CEO, and Chairman of Ty, Inc., Ty Warner is a savvy, yet private business man. Ty, Inc., made $700 million in a single year with the Beanie [`bi:ni] Babies craze without spending money on advertising! He has since expanded to include Ty Girlz dolls, directly competing with Bratz dolls. |
Vocabulary and Cultural Notes:
· Ty, Inc. – is an American plush animal company based in Westmont, Illinois. By far their most famous line of products are the Beanie Babies, but Ty also manufactures other lines of stuffed toys. The Ty logo is a red heart with the lower-case letters “ty.” A tag in this shape is found affixed to all Ty stuffed toys, and inside each tag is the name of the ty and a 4 line poem about it.
· savvy [`sævi] – having practical knowledge or understanding of something; knowing a lot about something and able to make good judgments about it;
· private(businessman) – not talking to other people about his personal life and his feelings;
· the Beanie[`bi:ni] Babies – stuffed animals made by Ty Inc., which was founded by Ty Warner. The original nine Beanie Babies launched in 1993 were Legs the Frog, Squealer the Pig, Spot the Dog, Flash the Dolphin, Splash the Whale, Chocolate the Moose, Patti the Platypus, Brownie the Bear (later renamed “Cubbie”) and Punchers the Lobster (later renamed “Pinchers”). The line became a phenomenon in the late 1990s when Beanie Babies became both a fad and a collectible. Ty decided to stop making Beanies in 1999; however, consumer demand made Ty Warner change his mind. He continues to run Ty Inc. and design new Beanie Babies to this day.
· craze [kreız] – a short-lived current fashion; a wild or exaggerated enthusiasm; something that suddenly becomes very popular, but for only a short time;
· Ty Girlz dolls– are soft-sculpt dolls that are dressed in the latest trend-setting fashions that can be mixed and matched, and each outfit is completed with complimentary earrings, necklaces and bracelets. Ty Girlz have soft realistic hair that can be easily combed and made into many different styles. Each doll has its own signature colour. Each Ty Girl comes with an individual scratch-off secret code which enables the collector to unlock the 3-D virtual world. Here girls can chat, play games, listen to music and just “hang out” in a forum that’s both fun and safe for kids.
· Bratz dolls – is a popular line of fashion dolls and related merchandise designed by Carter Bryant and manufactured by southern California toy company MGA Entertainment. The four original dolls – Cloe, Jade, Sasha, and Yasmin – are teenagers distinguished by large heads and skinny bodies, almond-shaped eyes adorned with eyeshadow, and lush, glossy lips.
| 15. Frank Lloyd Wright[fræŋk lOıd rait] (1869-1959). Having never attended high school, Frank Lloyd Wright surpassed all odds when he became the most influential architect of the twentieth century. Wright designed more than 1,100 projects with about half actually being built. His designs have inspired numerous architects to look at the beauty around them and add to it. |
Vocabulary and Cultural Notes:
· to surpass [sə`pα:s] – to be better or greater than something else; to be even better than what was expected or hoped for;
· odds – the chances of something happening;
Of course, just because these people made it does not of course mean that most people can do without a college degree. If you’ve got an entrepreneurial spirit, the degree is just a backup.
Task 24.Answer the questions.
1. Did all successful entrepreneurs need college education?
2. Which company uses saleswomen who sell directly to customers?
3. In Mary Cay Inc. the most successful saleswomen are given pink Cadillacs, aren’t they?
4. What is Richard Branson best known for?
5. Why is Sir Richard Charles Nicholas Branson often seen as different from the typical businessman?
6. What does the abbreviation LBD stand for?
7. What product(s) kept the name of Gabrielle Coco Chanel famous?
8. Which British music and television producer is sometimes called Mr Nasty or Judge Dread? Why?
9. Who became the most profitable PC manufacturer in the world?
10. Who was Fox Broadcasting Company started by?
11. When did Walt Disney start his own company?
12. What is the annual revenue of the Walt Disney Company these days?
13. How did Debbie Fields become the most successful cookie company owner?
14. Who developed the idea of the assembly line?
15. When did Henry Ford start to make cars?
16. What car “put America on wheels”?
17. Which company did William Henry Gates III found in 1975? What is the origin of the name of the company?
18. What is America’s best-loved chocolate brand?
19. What brand of portable media players was designed and launched by Apple Inc. on October 23, 2001 (2001-10-23)?
20. How has Rachel Ray made a name for herself in the food industry?
21. Is it possible to make $700 million in a single year without spending money on advertising? How do accomplishments of Ty, Inc. illustrate this phenomenon?
22. Who became the most influential architect of the twentieth century?
Task 25. Match the names of above successful entrepreneurs (column A) with their respective accomplishments (column B).
| A | B |
| 1.Mary Kay Ash 2. Richard Branson 3. Coco Chanel 4. Simon Cowell 5. Michael Dell 6. Barry Diller 7. Walt Disney 8. Debbi Fields 9. Henry Ford 10. Bill Gates 11. Milton Hershey 12. Steve Jobs 13. Rachael Ray 14. Ty Warner 15.Frank Lloyd Wright | a)became a famous television producer; b)became the most influential architect of the twentieth century; c)became the most profitable PC manufacturer in the world; d)became the most successful cookie company owner; e)co-founded Apple Computers; f)excelled in cosmetics business; g)has made a name for herself in the food industry; h)is a savvy, yet private businessman who made a multimillion profit without spending money on advertising; i)is best known for his thrill seeking spirit and outrageous business tactics; j)is the most influential animator; k)revolutionized the auto-making industry; l)started Fox Broadcasting Company; m)started his own chocolate company which produced the first nationally marketed chocolate; n)started the largest computer software company; o)succeeded in the fashion world and gave her name to a famous perfume; |
Task 26. Match the passages in the text (Task 21) with their topics. Write the number of respective paragraphs on the line.
| 1. | ____ | A British music and television producer sometimes called Mr Nasty or Judge Dread; |
| 2. | ____ | a broadcasting company started by a college dropout; |
| 3. | ____ | a co-founder of the company famous for innovative products such as the iPod, iTunes, and most recently the iPhone; |
| 4. | ____ | a creative businesswoman who influenced 20th century fashion; |
| 5. | ____ | a person who made $700 million in a single year without spending money on advertising; |
| 6. | ____ | an engineer and businessman whostarted the assembly line production, revolutionalizing the auto-making industry; |
| 7. | ____ | a well known brand created by a woman; |
| 8. | ____ | a woman who has made a name for herself in the food industry having no formal training in culinary arts; |
| 9. | ____ | a young 20 year old housewife with no business experience, who became the most successful cookie company owner; |
| 10. | ____ | an extravagant owner of 360 companies; |
| 11. | ____ | the founder of the company producing the first nationally marketed chocolate in the USA; |
| 12. | ____ | the inventor of Mickey Mouse and Donald Duck; |
| 13. | ____ | the most influential architect of the 20th century; |
| 14. | ____ | the most profitable PC manufacturer in the world; |
| 15. | ____ | the philanthropist ranked as the world’s richest person from 1995-2006. |
Task 27. Choose proper verbs to fill in the blanks in the sentences below.
1. Mary Kay Ash successfully _____ a brand known throughout the world.
| A. designed; | B. engineered; | C.created; |
2. Richard Bransonis a British businessman who _____ the Virgin companies.
| A. invented; | B. started; | C.evolved; |
3. Coco Chanel _____ the little black dress.
| A.engineered; | B. invented; | C.founded; |
4. GabrielleCoco Chanel was determined to _____ herself, and threw out innovative ideas.
| A. invent; | B. design; | C.engineer; |
5. Walt Disneyis a US film producer who _____ his own company in the 1920s.
| A. started; | B. innovated; | C.invented; |
6. Walt Disney _____ some of the best-known cartoon characters, including Mickey Mouse and Donald Duck.
| A. invented; | B. pioneered; | C.designed; |
7. Walt Disney _____ many nature films and adventure films for children.
| A. designed; | B. invented; | C.made; |
8. Henry Ford _____ the idea of the assembly line.
| A. founded; | B. developed; | C.invented; |
9. Henry Ford _____the famous Model T Ford, and became one of the US’s richest and most successful businessmen.
| A. launched; | B. founded; | C.invented; |
10. The Ford Motor Company_____ Model T Fordfrom 1908 through 1927.
| A. produced; | B. designed; | C.engineered; |
11. The Ford Model T car was _____ by Childe Harold Wills and two Hungarian immigrants Joseph A. Galamb and Eugene Farkas.
| A.designed; | B. launched; | C.founded; |
12. The Ford Motor Company was _____ in a converted factory in 1903 with $28,000 in cash from twelve investors, most notably John and Horace Dodge.
| A. launched; | B. evolved; | C.designed; |
13. Henry Ford was 40 years old when he _____ the Ford Motor Company.
| A. founded; | B. engineered; | C.pioneered; |
14. William Henry Gates III (known as Bill Gates) and Paul Allen _____ Microsoft in New Mexico in 1975.
| A. founded; | B. innovated; | C.invented; |
15. In 1900, Milton S. Hershey _____ the recipe for what would become a great American classic.
| A. founded; | B. developed; | C.designed; |
16. Apple Computers (Apple Inc.)is an American multinational corporation that _____ and manufactures consumer electronics and software products.
| A. invents; | B. launches; | C.designs; |
17. iPhone is an Internet-connected, multimedia smartphone designed and _____ by Apple Inc.
| A. marketed; | B. invented; | C.founded; |
18. The original iPhone was _____ in the United States on June 29, 2007 before being marketed worldwide.
| A. invented; | B. engineered; | C.introduced; |
19. Rachel Ray has _____ a name for herself in the food industry.
| A. launched; | B. made; | C.started; |
20. A special website dedicated to bashing Rachael Ray was _____.
| A. created; | B. innovated; | C.marketed; |
21. Food Network was _____ on November 23, 1993 as TV Food Network.
| A. founded; | B. designed; | C.invented; |
22. Ty, Inc., _____ $700 million in a single year with the Beanie Babies craze without spending money on advertising.
| A. launched; | B. made; | C.pioneered; |
23. The first nine Beanie Babies were _____ in 1993.
| A. founded; | B. engineered; | C.launched; |
24. Bratz dolls is a popular line of fashion dolls and related merchandise _____ by Carter Bryant and manufactured by southern California toy company MGA Entertainment.
| A. designed; | B. founded; | C.engineered; |
25. Frank Lloyd Wright_____ more than 1,100 projects with about half actually being built.
| A. designed; | B. invented; | C.founded. |
Task 28. Translate into English.
1.Багатьом успішним підприємцям не знадобилася вища освіта. 2.Мері Кей Еш створила всесвітньо відомий бренд. 3.На сьогодні майже півмільйона жінок відкрили свій бізнес і продають косметику Мері Кей. 4.Заснована в 1902 році, автомобільна компанія Кадилак була названа на честь засновника міста Детройт. 5.Ричард Бренсон найбільш відомий тим, що є любителем гострих відчуттів, а також своєю жорсткою бізнес тактикою. 6.Сер Ричард Чарльз Ніколас Бренсон не схожий на типового бізнесмена, оскільки відростив довге волосся і не носить ділові костюми. 7.Парфуми Шанель № 5 названі на честь відомої французької жінки-дизайнера. 8.Коко Шанель розробила дизайн невеликої чорної сукні, яка вважається обов’язковою частиною гардеробу будь-якої жінки. 9.Британський музичний і телевізійний продюсер Саймон Кауел відомий тим, що грубить учасникам телевізійних пісенних конкурсів. 10.Майкл Делл розпочав власний бізнес з 1 тисячею доларів у кишені, складаючи у кімнаті університетського гуртожитку комп’ютери. 11.Уолт Дісней винайшов декілька з найбільш відомих мультиплікаційних героїв. 12.Компанія Уолта Діснея має сьогодні щорічний дохід у 30 мільярдів доларів. 13.Двадцятирічна домогосподарка Дербі Філдз, не маючи досвіду ділової діяльності, стала найбільш успішною власницею компанії з виготовлення домашнього печива. 14.У віці 16 років Генрі Форд пішов з дому і став помічником машиніста. 15.Форд розвинув ідею конвеєра. 16.Компанія Форд пережила період Великої депресії. 17.Назву компанії Майкрософт запропонував Біл Гейтс у листі до свого партнера по бізнесу Пола Аллена. 18.Засновники компанії Майкрософт є відомими філантропами. 19. У 1900 році Мільтон Хеші розробив рецепт молочного шоколаду, що згодом стане американською класикою. 20. Стів Джобз розробив перший персональний комп’ютер Епл. 21.Рейчел Рей зрозуміла, що досягла успіху, коли було створено вебсайт для її публічної критики. 22. Тай Уорнер – кмітливий і водночас потайливий бізнесмен, який за один рік заробив 700 мільйонів доларів, не потративши гроші на рекламу. 23. Френк Ллойд Райт перевершив усі сподівання, ставши найбільш впливовим архітектором 20 століття. 24. Більшість людей не можуть обійтися без диплома про вищу освіту. 25. Якщо ви володієте духом підприємництва, диплом є лише допоміжним засобом.
Task 29. Agree or disagree with the following statements.
The lives of the above mentioned successful entrepreneurs (Task 23) prove that …
· lack of college education frees businessmen and makes them more creative;
· lack of educational background gives a chance to excel in business;
· college degree is not necessary if a person has got an entrepreneurial spirit;
· entrepreneurial spirit is just a backup if you have got a college degree;
· there are few examples of successful entrepreneurs who didn’t need college education;
· there is no chance to become a millionaire without a college degree.
Task 30. а)Read and translate the article by Donald J. Trump.
Donald J. Trump is the very definition of the American success story. He has continually set new standards of excellence while expanding his interests in luxury residential real estate, world-class hotels, office buildings, championship golf clubs, gaming, merchandising and entertainment. Mr. Trump is committed to personal and direct involvement in everything that his name represents. This commitment has made him the pre-eminent developer of quality real estate known around the world.
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