1、unit02,Teaching Aim,Reading I,Reading II,Extended Activities,Teaching Aim,Teaching Aim,Unit 2 Ownership,1. Cognitive Information（认知信息): Business Ownership 2. Language Focus（内容重点) Key Words:. proprietorship, corporation, debt, legal, formality, specify, dissolve, withdrawal, dividend, conglomerate, a
2、ssets, utility, offset;. productive, resources, enable, input, output, earnings, maximum profit, motive, executive, boost, discount, bonus, monopoly, regulation,Teaching Aim,Teaching Aim, Phrases: . start with， close down， run out of, consist of, in most cases, be liable for, account for, be subject
3、 to, have advantages over, go into debt, no more than, in the extent of, be considered as;. amount of, base on, be dissatisfied with, compete for Word Study: differ, define, dominate, extend, represent Useful Structures: vary in (size .) range from . to in the form of get sth. done Grammar: Passive
4、Voice of Verbs,Unit 2 Ownership,Teaching Aim,Teaching Aim,3. Communicative Skills（交际技能) Expressions: Expressions of “Asking or Offering favors” Reading: A Journalist Article 4. Lexical Knowledge（词汇学知识)： suffixes: ness, ship, hood, tion / sion, ment,Unit 2 Ownership,Reading I,Reading I,Unit 2 Ownersh
5、ip,Background Information,Pre-reading,Text,New Words and Expressions,Exercises,Post-reading,Pre-reading,Pre-reading,Unit 2 Ownership,Pre-reading I,Pre-reading II,1 Exercise I,Unit 2 Ownership,Pre-reading I,Brainstorming: Work with your partner and write down businesses which belong to different type
6、s of ownership.,Telecommunication service / post office,Television / radio station,Electric power industry,Journalism / publisher,Air transport industry,Banking,Oil company,Stock market,Retail business,Hotel,Travel agency,Department store,Food manufacturer SupermarketAdvertising agencyRepair service
7、,1 Exercise II,Unit 2 Ownership,Pre-reading II,Pairwork: Discuss the following questions with your partner.,1. What is ownership? 2. Could you name some types of ownership existing in China today? 3. Which ownership plays a leading role in Chinas national economy? 4. Do you think it important to div
8、ersify ownership in China? 5. What changes are taking place in China as far as ownership is concerned?,1-Text-1,Text,Unit 2 Ownership,Types of Business Ownership,1-Text-2,Text,Unit 2 Ownership,1-Text-3,Text,Unit 2 Ownership,1-Text-4,Text,Unit 2 Ownership,1-Text-5,Text,Unit 2 Ownership,1-Text-6,Text,
9、Unit 2 Ownership,1-Text-7,Text,Unit 2 Ownership,1-Text-8,Text,Unit 2 Ownership,1-Text-9,Text,Unit 2 Ownership,1-Text-10,Text,Unit 2 Ownership,Background Information,Unit 2 Ownership,Background Information,1. Ownership overviewOwnership is the state or fact of exclusive possession or control of somet
10、hing, which may be an object or some kind of property. Ownership is self-propagating: If an object is owned by someone, any additional goods produced by using that object will also be owned by the same person. Thus, the more a person can own or acquire through money, the more he or she will generate
11、 other things to be owned by him or her. Ownership is central to and facilitates the development of social systems.,Background Information,Unit 2 Ownership,Background Information,1) Corporate Ownership In business, corporate ownership is critical as it determines who controls the factors of producti
12、on owned by that corporation and thus who owns the outputs. Companies or organizations usually own factories, or more generally, the capital, and the materials used to produce. They hire employees but they dont own employees they do however control what is sometimes called human capital or have some
13、 exclusive right to individual capital (creativity, talent). Companies that issue stocks are officially owned by stockholders, and CEOs are hired by them to run the companies. CEOs themselves do not own the companies, even though they may have more control and involvement than the “real” owners, the
14、 stockholders. Executives of small companies are often also stockholders. Whether they make major decisions like mergers (合并), or whether they hold actual stock, line management makes daily decisions, and may not be directly answerable to the “real” owners.,Background Information,Unit 2 Ownership,Ba
15、ckground Information,2) Intellectual Ownership Ownership of ideas or plans or strictly sensory works is always a complicated issue. Use of patents and copyright laws in modern society has introduced ownership for non-material things usually on a temporary basis. This is a mixed blessing, providing r
16、eward to innovators, but also greatly restricting the free flow of ideas and information (a fact which, according to some critics, will hurt innovation in the long run).,Background Information,Unit 2 Ownership,Background Information,2. Forms of business ownershipOne of the first decisions that you w
17、ill have to make as a business owner is how the company should be structured. In making a choice, you will take into account the following： Your vision regarding the size and nature of your business. The level of control you wish to have. The level of “structure” you are willing to deal with. The bu
18、sinesss vulnerability to lawsuits. Tax implications of the different ownership structures. Expected profit (or loss) of the business. Whether or not you need to re-invest earnings into the business. Your need for access to cash out of the business for yourself.,Background Information,Unit 2 Ownershi
19、p,Background Information,1) Sole or Single Proprietorships （独家所有经营)The vast majority of small businesses start out as sole proprietorships. These firms are owned by one person, usually the individual who has day-to-day responsibility for running the business. Sole proprietors own all the assets of t
20、he business and the profits generated by it. They also assume complete responsibility for any of its liabilities or debts. In the eyes of the law and the public, you are one in the same with the business.,Background Information,Unit 2 Ownership,Background Information,Advantages of a Sole Proprietors
21、hip It is the easiest and least expensive form of ownership to organize. Sole proprietors are in complete control, and within the parameters of the law, may make decisions as they see fit. Sole proprietors receive all income generated by the business to keep or reinvest. Profits from the business fl
22、ow through directly to the owners personal tax return. The business is easy to dissolve, if desired.,Background Information,Unit 2 Ownership,Background Information,Disadvantages of a Sole Proprietorship Sole proprietors have unlimited liability and are legally responsible for all debts against the b
23、usiness. Their business and personal assets are at risk. Sole proprietors may be at a disadvantage in raising funds and are often limited to using funds from personal savings or consumer loans. Sole proprietors may have a hard time attracting high-caliber employees, or those that are motivated by th
24、e opportunity to own a part of the business.,Background Information,Unit 2 Ownership,Background Information,2) Partnerships （合伙经营)In a Partnership, two or more people share ownership of a single business. Like proprietorships, the law does not distinguish between the business and its owners. The Par
25、tners should have a legal agreement that sets forth how decisions will be made, profits will be shared, disputes will be resolved, how future partners will be admitted to the partnership, how partners can be bought out, or what steps will be taken to dissolve the partnership when needed. Its hard to
26、 think about a “break-up” when the business is just getting started, but many partnerships split up at crisis times and unless there is a defined process, there will be even greater problems. They also must decide in advance how much time and capital each will contribute, etc.,Background Information
27、,Unit 2 Ownership,Background Information,Advantages of a Partnership Partnerships are relatively easy to establish; however time should be invested in developing the partnership agreement. With more than one owner, the ability to raise funds may be increased. Prospective employees may be attracted t
28、o the business if given the incentive to become a partner. The business usually will benefit from partners who have complementary skills.,Background Information,Unit 2 Ownership,Background Information,Disadvantages of a Partnership Partners are jointly and individually liable for the actions of the
29、other partners. Profits must be shared with others. Since decisions are shared, disagreements can occur. Some employee benefits are not deductible from business income on tax returns. The partnership may have a limited life; it may end upon the withdrawal or death of a partner.,Background Informatio
30、n,Unit 2 Ownership,Background Information,3) Corporations （股份有限公司)A corporation is considered by law to be a unique entity, separate and apart from those who own it. A corporation can be taxed; it can be sued; it can enter into contractual agreements. The owners of a corporation are its shareholders
31、. The shareholders elect a board of directors to oversee the major policies and decisions. The corporation has a life of its own and does not dissolve when ownership changes.,Background Information,Unit 2 Ownership,Background Information,Advantages of a Corporation Shareholders have limited liabilit
32、y for the corporations debts or judgments against the corporations. Generally, shareholders can only be held accountable for their investment in stock of the company. Corporations can raise additional funds through the sale of stock. A corporation may deduct the cost of benefits it provides to offic
33、ers and employees.,Background Information,Unit 2 Ownership,Background Information,Disadvantages of a Corporation The process of incorporation requires more time and money than other forms of organization. Corporations are monitored by federal, state and some local agencies, and as a result may have
34、more paperwork to comply with regulations. Incorporating may result in higher overall taxes. Dividends paid to shareholders are not deductible from business income, thus this income can be taxed twice.,Background Information,Unit 2 Ownership,Background Information,3. Foreign related business structu
35、res in ChinaThe current Chinese law recognizes three types of business entities that have foreign interest. These are as follows： Type 1: A Foreign Representative OfficeThis was the earliest and for a time the predominant form of foreign related entity that was / is allowed to do business in China.
36、A foreign representative office, also called Rep office as it is commonly called, can only perform liaison work between the foreign parent and local businesses. A Rep office cannot generate revenue in China and cannot sign or enter into any types of revenue generating contracts with local businesses
37、. It is solely a communications vehicle that helps its parent company to do business with Chinese clients.,Background Information,Unit 2 Ownership,Background Information,Advantage: Its easy to establish, visible and looks good. Disadvantage: It cannot operate as a revenue-generating business, and ca
38、n be expensive and has negative tax consequences.,Background Information,Unit 2 Ownership,Background Information,Type 2: A Joint Venture (JV) CompanyThis used to be the predominant business vehicle for foreign companies. The foreign company provides the product, the money and sometimes the managemen
39、t expertise, the Chinese company provides the local connections necessary for government approval and local market expertise and the two companies split any profits. In China, a JV is a recognized corporate entity, which is a partnership between the foreign investor and the local Chinese partner. Ho
40、wever, the JV is a corporate entity and not a partnership in the western legal sense. A JV can conduct business in China like any other business although there are certain industries that only permit 100% Chinese companies. With Chinas entry into the World Trade Organization (WTO), the country is be
41、coming more and more open to foreign businesses. A JV can enter into a vast majority of Chinese industries.,Background Information,Unit 2 Ownership,Background Information,Advantage: It gains immediate market entry with local market expertise and understanding of local practice and requirements. Disa
42、dvantage: It has the shared decision-making power, which sometimes resulted in conflict, delay or confusion. Frequently, it has less efficient use of resources and is slow in decision-making.,Background Information,Unit 2 Ownership,Background Information,Type 3: A Wholly Foreign Owned Enterprise (WF
43、OE)A WFOE is a 100 percent wholly owned foreign subsidiary that does business in China. This is becoming increasingly the vehicle of choice for foreign direct investment in China. The WFOE is a registered local company but its difference from other local companies is its 100% foreign ownership. Adva
44、ntage： It has the absolute decision-making power, and can be quicker in decision making. It has more control over company operations and use more of western business customs. Most important, there is no sharing of profits. Disadvantage： It lacks local knowledge, and has less local government connect
45、ions, so it has less ability to influence government permit, tax and other decisions. This can be mitigated by using expert assistance, hiring qualified local managers and building a quality staff.,New Words and Expressions,Unit 2 Ownership,New Words and Expressions,New words and Expressions,Notes,L
46、anguage and Culture Focus,New words and Expressions,New words and Expressions,Unit 2 Ownership,1. proprietorship n. ownership 所有权 2. corporation n. a body of people permitted by law to act as a single person for purpose of business (有限)公司 3. debt n. money you owe to somebody 债 4. legal a. in accorda
47、nce with the law 合法的 5. formality n. an act in accordance with the law or custom 正式手续,New words and Expressions,New words and Expressions,Unit 2 Ownership,6. liable a. responsible according to law 有责任的liability: n. the state of being liable 责任 7. specify v. to state something in an exact and detaile
48、d way详细说明; 具体说明 8. dissolve v. to bring sth. to an end 解散 9. withdrawal n. taking (money) out of (a bank) 取(钱) 10. stockholder n. (US) one who owns stocks of a business; shareholder (UK) 股东 11. dividend n. periodical payment of interests on shares to shareholders in a business company 红利,New words a
49、nd Expressions,Unit 2 Ownership,New Words and Expressions,12. federal a. based upon a political system in which a union of states retains powers of government over some internal affairs 联邦的 13. range v. (from) vary between limits （在一定范围内)变动 14. differ v. to be unlike 与不同 15. conglomerate n. a large business firm that controls the production of goods of very different kinds 企业集团 16. define v. to give the meaning of something 解释,New words and Expressions,
