Universitatea Lucian Blaga din Sibiu Economice

Facultatea de tiine

Referat Engleza
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Universitatea Lucian Blaga din Sibiu Economice

Facultatea de tiine

Presentation
My name is Trua (Vlcan) Corina, I am 30 years old, from Romania. I am a student at the Uni ersity !inance "an#s Tar$u Mures year % are married ha e a $irl) I must say a lot a&out me. I am a hi$h thin 'oman 'ith &ro'n eyes 'ear stylish clothes. I $raduated a&out my moral (ualities must say that I am o)timistic and friendly character. I ha e a lot of friends &ecause I am soci&le

Business and businesses

"usiness is a lon$ term, hi$hly re)etitious acti ity, fre(uently re(uirin$ )eo)le to do the same thin$ today, tomorro', the ne*t day. Many of today+s 'ell #no'n &usinesses 'ere started &y one or t'o )eo)le and the o'nershi) of those &usinesses 'as ery sim)le. lt 'as durin$ the l,th century that &usinesses 'anted to e*)and and increase the num&er of o'ners. To do this they needed to sell shares. To cncoura$c )eo)le to &uy shares, $o ernments around the 'orld )assed la's 'hich $a e )eo)le limited lia&ility. -urin$ the %oth century many )eo)le &ou$ht shares in sucessful &usinesses for the follo'in$ reasons. to ha e a share in the )rofit made &y the &usiness, the ho)e that a )ro/ta&le &usiness 'ould attract more and more )eo)le to &uy shares and this 'ill ma#e the )rice rise so that shares could &e sold at a )rofit. The sim)lest t+orm of &usiness o'nershi) is the sole trader.0ere, one )erson o'ns the &usiness, ta#es all the decisions and ris#s his o'n money. 1eo)le en2oy to &e self em)loyed and they are ha))y to ha e com)lete control of their o'n &usiness. "ut there is no one to share the res)onsi&ilities in ol ed in decision ma#in$ and raisin$ /nance is a )ro&lem. 3ole traders finance their &usiness throu$h a &an# loan and the &an# 'ill char$e a hi$h rate of interest. 4 &an# 'ill ensure that it can $et the money &ac#, if the loan is not re)aid, &y re(uirin$ security on the loan. 3ole traders are lia&le for any de&ts they ha e, e en if they are not the trader s fault. 4 trader may do a 2o& for5 a lar$er &usiness6 it may &e 'orth %0 7778 &ut it 'ill not &c )aid until the2o& is com)lete. The sole trader must s)end ,000 8 on e(ui)ment, &ut 'hen the 2o& is com)lete the lar$er &usiness closes do'n and the %0 7778 are not )aid6 still, the sole trader has to co er the ,000 already s)ent as he has unlimited lia&ility. 3ometimes, a )air of a small $rou) of )eo)le 'ill $et to$ether to run a &usiness. This is called a )artnershi). 1artnershi)s face unlimited lia&ility as sole traders do.

Universitatea Lucian Blaga din Sibiu Facultatea de tiine Economice 1artners may )ut some money into the )artnershi) in return for a share of the )ro/ts &ut ta#e no )art in the runnin$ of the )artnershi), do not 'or# for it and ha e 9no say: in any decisionsUnder these circumstances, it is only the money that has &een in ested that is lia&le to &e used in order to )ay off any de&ts. This is a silent )artner and he has only limited lia&ility. The technical name for &oth )ri ate and )u&lic limited com)anies is 2oint stoc# com)any. It means that the stoc# in a com)any is o'ned 2ointly &y se eral )eo)le. 3ome &usiness acti ity is carried on &y the $o ernment and thisforms the )u&lic sector. 1rofit ma*imisation may not &e the only aim of a &usines6 in )u&lic com)anies there is a se)aration of o'nershi) and control, so that dircctors and mana$ers may run a com)any in their o'n interests. "usiness is the )roduetiom&uyin$, and sellin$ of $oods and ser ices. 4 &usiness, com)any or firm is an or$ani;ation that sells $oods or ser ices. 4 &usiness may &e referred to formally as a concem. Then, it may &e referred to a))ro in$ly as an enter)rise in order to em)hasi;e its ad enturous, ris# ta#in$ (ualities and &usiness in $eneral may &e referred to in the same 'ay, in eom&inations such as f+ree enter)rise and )ri ate enter)rise. 4 &usiness re(uires tremendous effort to $et it $oin$ and once $oin$, it re(uires minimum effort to #ee) it $oin$. The role of &usiness is to stay in &usiness, )ro idin$ 'a$es, $oods and ser ices into the community and meetin$ the )rofit needs of the &usiness and the #ey sta#eholders in the &usiness. The source of fundin$ and ca)ital is considered to &e the main difference &et'een the sta#eholders and the shareholders. ln the sta#eholder model, fundin$ is &ein$ su))lied throu$h &an# loans. This means that they 'ill as# for mana$erial consideration and res)onse from those runnin$ the com)any. In the shareholder model, stoc#holders ad ance ca)ital to mana$ers 'ho act as their a$ents in )re<authori;ed 'ays. 3hareholdes &uy shares to ma*imise the return on their in estment6 the res)onsi&ility of the mana$er in a firm is to en$a$e in acti ities desi$ned to increase the )rofits, that is to en$a$e in o)en and free Com)etition. To create shareholder 'ealth, the mana$ement needs to out)erform the e*)ectations shareholders had 'hen they made their in estment decisions. In the shareholder model of cor)orate $o ernanee, the focus is on institutional a$ents monitorin$ cor)orate a$ents in order to enhance the in estment )ros)ects of in estors.

Universitatea Lucian Blaga din Sibiu Facultatea de tiine Economice In the sta#eholder model, the )remise is that a com)any is more li#ely to )erform 'ell and the shareholders are more li#ely to &enefit, if o))ortunities are created for the arious $rou)s holdin$ an interest in the com)any to enter into &indin$ relationshi). The cm)hasis in the sta#eholder model is the 'ay enter)rises are $o erned 'hile in shareholder model the em)hasis is on the 'ay enter)rises are mana$ed. The shareholder &ased entity is more res)onsi e to chan$es in mar#et conditions. "oth a))roaches ta#e account of the issues of &oard chec#s and &alances, a&use of authority and )o'er, the role of &oards, director re'ards and )artici)ation in settin$ standards for accountin$, safety, em)loyec relations and ris# mana$ement. In today=s &usiness 'orld 'e ha e to ta#e into consideration the t'o models. The shareholder model encoura$es a to) do'n, command and control leadershi) a))roach 'hereas in the sta#eholder model a team &ased, shared decision ma#in$, ser ant leadershi) a))roach is more li#ely. 3ta#eholder &ased $o ernance refers to ho' the or$ani;ation ma#es cost effecti e decisions in terms of 'ealth creation &ut 'ith consideration of sta#cholders: ri$hts. Cor)orations ha e multi)le res)onsi&ilities and need to &alance com)etin$ conditions, such as lon$ and short term notion of $ain, )rotit and sustaina&ility, cash and accountin$ conce)ts of alue, democracy and authority, )o'er and accounta&ility. This model is more common in continental >uro)e and ?a)an. The micro a))roach to cor)orate $o ernanee refers to shareholders. This is concerned 'ith ma*imi;in$ 'ealth creation for shareholders. Control is lin#ed here to )roiita&ility, an 4n$lo 4merican model. Then &usiness may &e referred to as commerce, commercial distin$uishin$ the &usiness s)here from other areas such as $o ernment or arts or from non money ma#in$ acti ities. The social role of any &usiness is lin#ed to 'hat 'e call as ser in$ the future. suf/cient )rofrts to satisfy the &usiness and the sta#eholders meet today+s )ro/ts needs. "ut as the e*)ectations increase society has to in est in ideas and technolo$y that e*)ands the economic &ase and the 'ealth of the society. 4n essential re(uirement is that each and e ery &usiness stri es to achie e )ro/ts o er and a&o e immediate &usiness needs and the sta#eholders: needs. @ithout this 9sur)lus )rofit: there can &e no cnture ca)ital. @ithout enture ca)ital, economic $ro'th 'ill stru$$le to match )o)ulation. $ro'th and the $ro'th in social e*)ectations. 4ny &usiness re(uires true )rofessionalism< the coura$e to care a&out )eo)le, clients, career.

Universitatea Lucian Blaga din Sibiu Facultatea de tiine Economice True )rofessionalism means the )ursuit of c*cellcnce. lf you alue somethin$, then you must monitor your )erformance in that area, acc)t nothin$ less than e*cellence and acti ely 'or# to learn 'hat to do differently e ery time you fall short of e*cellence. !irms must )ro ide hel) and counsel to those 'ho are encounterin$ dif/culties in li in$ uo to their standards, in order to hel) them $et &ac# on trac#. 7nce )rofessionals ha e con/rmed their core alues, they need to desi$n systems 'hich )ro ide conse(uences for noncom)liance. "y lea in$ each indi idual )rofessional to decide for himself'hat le el to achie e in #ey alue areas, tirms say that the com)any as a society has no standards that must &e adhered to. >*cellence in such areas &ecome a matter of )ersonal )rofessional choice. 1rofessionals must li e &y the slo$an 9 you are allo'ed to fail, you are not allo'ed to $i e u) tryin$. The o)osite of the 'ord )rofessional is not un)rofcssional, &ut rather technieian. These may &e hi$hly s#illed, &ut they aren+t )rofessionals until they demonstrate characteristics such as;ta#in$ )ride in their 'or#, sho'in$ a )ersonal commitment to (uality, reaehin$ out for res)onsi&ility$ettin$ in ol ed, loo#in$ for 'ays to ma#e thin$s easier for those they ser e, listenin$ to the needs of those they ser e, &ein$ team )layers, lionest, tiust'orthy, loyal, o)en to constructi e criti(ues. 1rofessionalism is an attitude not a set of com)etenccs. 4 true )rofessional is a technieian 'ho eares. 4nd if lindin$ )eo)le 'ith technical s#ill is usually easy, findin$ )eo)le 'ho are filled 'ith ener$y, dri e, enthusiasni )ersonal commitment to e*cellence is hard. "ecause real )rofessionalism has little to do 'ith @hich &usiness you are in, 'hat role 'ithin that &usiness you )erform, ho' many de$rees you ha e. lt im)lics a )ride in 'or#, a commitment to (uality, a dedieation to the interests of the client, a sincere desire to hel). Traditional definitions of )rofessionalisin are filled 'ith references to status, educational attainments, no&le callin$. Ao', 'e refer to attitude and character. 3o, tnns should hire )eo)le for attitude and train foi5 s#i ll. "ein$ a )rofessional as#s for treatin$ )eo)le as )rofessionals that is in est in them. Then )rofessional success re(uires more than talent, it as#s for initiati e, in ol ement, enthusiasm, commitment. "ein$ $ood at &usiness de elo)ment in ol es nothin$ more than a sincere interest in clients and their )ro&lems and a 'illin$ness to $o out and s)end the time &ein$ hel)/il to tlicin. 3uccess iri &usiness life means not only $ood )rofessionalism &ut effecti e functionin$ of the firms, )ositi e outloo#.

Universitatea Lucian Blaga din Sibiu Economice

Facultatea de tiine