商务英语入门第一章-外教社修订版

Chapter1,FormsofBusinessOwnership,FormsofBusinessOwnership,LectureOutline,SoleProprietorships个人企业,Partnerships合伙制企业,Corporations公司,JointVentures合资企业,LimitedLiabilityCompanies有限责任公司,Mergershaveseveralpeoplemakingmanagementdecisions,andtheentitycontinuesintheeventofillnessorthedeathofoneofthepartners;canraisemoneythroughstockofferings.,AdditionalInfo,DifferencesWithSoleProprietorships:,Corporations,Soleproprietorship:alenderisentirelydependentonthebusinessownersabilitytorepaytheloanwithhisownlabor.cantsellstocktoraisefundsforequipmentorexpansion.,AdditionalInfo,DifferencesWithSoleProprietorships:,Corporations,Whatsthedifferencebetweenanopenandaclosedcorporation?Whydomostyoungpeopleprefertoworkforalargecorporation?,QuestionsforDiscussion:,JointVentures,Ajointventure(JV)isthepoolingofresourcesandexpertisebytwoormorebusinesses,typicallyfromdifferentareasorcountriestoachieveaparticulargoal.Therisksandrewardsoftheenterprisearealsoshared.,Partnershipsoccurwhentwoormoreentitiesdecidetoworktogetherinabusiness.,JointVentures,businessexpansiondevelopmentofnewproductsmovingintonewmarkets,particularlyoverseas.,Reasonsbehindtheformationofajointventure:,JointVentures,accesstonewmarketsanddistributionnetworks;increasedcapacity;thesharingofriskswithapartner;accesstospecializedstaffandtechnology.,Advantages:,JointVentures,Iftheobjectivesoftheventurearenot100percentclear,ornotcommunicatedtoallthestaffinvolved,problemsarelikelytoarise.Thereisanimbalanceinlevelsofexpertise,investment,orassetsbroughtintotheventurebythedifferentpartners.,Disadvantages:,JointVentures,Differentculturesandmanagementstylesresultinpoorintegrationandcooperationbetweenthepartners.Theparentbusinessesdontprovidesufficientleadershipandsupportintheearlystages.,Disadvantages:,JointVentures,AdditionalInfo,JointVentures,AdditionalInfo,JointVentures,AdditionalInfo,JointVentures,Whatownershipisajointventuresimilarto?Why?Whataretheadvantagesofajointventure?,QuestionsforDiscussion:,LimitedLiabilityCompanies,ALimitedLiabilityCompany(LLC)isatypeofbusinessownershipcombiningseveralfeaturesofcorporationandpartnershipstructures.,Itisdesignedtoprovidethelimitedliabilityfeaturesofacorporationandthetaxefficienciesandoperationalflexibilityofapartnership.,Itsformationismorecomplexandformalthanthatofageneralpartnership.,LimitedLiabilityCompanies,Likeacorporation,theowners(calledmembers)oftheLLCarenotpersonallyresponsibleforthedebtsoftheLLC.,Likeapartnership,thereisnodualtaxationandtheearningsofthebusinessaretaxeddirectlytothemembers.,LimitedLiabilityCompanies,Advantages,Limitedliability:Memberscannotbeheldpersonallyliablefordebtsunlesstheyhavesignedapersonalguarantee.,Flexibleprofitdistribution:Limitedliabilitycompaniescanselectvaryingformsofdistributionofprofits.,LimitedLiabilityCompanies,Advantages,Nominutes:TheLLCbusinessstructurerequiresnocorporateminutesorresolutionsandiseasiertooperate.,Nodoubletaxation:Allyourbusinesslosses,profits,andexpensesflowthroughthecompanytotheindividualmembers.Youavoidthedoubletaxationofpayingcorporatetaxandindividualtax.,LimitedLiabilityCompanies,Disadvantages,Limitedliability:aLLCisdissolvedwhenamemberdiesorundergoesbankruptcy.,Goingpublic:itishardtogopublic.,Addedcomplexity:ALLCmaybeclassifiedasasole-proprietorship,partnership,orcorporationfortaxpurposes.Classificationcanbeselectedoradefault(违约)mayapply.,LimitedLiabilityCompanies,AdditionalInfo,有限责任公司是根据美国五十个州中某一州的法律而设立的非法人商业实体。通常必须有两个或两个以上的所有者，称为“成员”；但在一些州，如加利福尼亚州、特拉华州和纽约州，也允许一人设立有限责任公司。有限责任公司的成员可以是个人或实体，美国人或外国人皆可。有限责任公司成员人数并无上限规定。,LimitedLiabilityCompanies,AdditionalInfo,有限责任公司是美国各州法律规定的一种比较新的公司模式，在很短时间内就成为了一种大受欢迎的所有权形式。它的产生满足了商人们的需要、即提供了一种具有（1）有限责任（公司也具备有限责任的特征，但合伙并不具备条件）和（2）合伙型运营的灵活性的法律实体。有限责任公司的价值还体现在：无论成员对管理的参与程度如何，所有成员只以其出资额为限承担责任。实际上，有限责任公司是公司和合伙的嫁接产物。,LimitedLiabilityCompanies,AdditionalInfo,现行中国公司法规定的公司分为有限责任公司和股份有限公司。从西方公司理论看，公司根据不同条件可做多种分类。例如根据是否适用有限责任分为有限责任公司和无限责任公司。有限责任公司最显著的特征是，股东以其出资额为限对公司承担责任，公司以其全部资产对公司的债务承担全部责任，不能公开募股。股份有限公司区别于有限责任公司的最为重要的特征是：其全部资本分为等额股份，股东以其所持有的股份对公司承担责任，公司以其全部资本对公司的债务承担责任，例如上市公司。,LimitedLiabilityCompanies,AdditionalInfo,Alimitedliabilitycompanycouldbeconvertedintoacompanylimitedbyshares.,LimitedLiabilityCompanies,AdditionalInfo,Note:中美公司的名称有时没法一一对应翻译，因为两国之间公司法对公司的定义不同，比如中国的“股份有限公司”就无法对应英文。美国公司名称通常为：XxxcompanyXxxCo,Ltd(corporationlimited)XxxInc.(Incorporated),Mergers&Acquisitions,Thephrasemergersandacquisitions(abbreviatedM&A)referstotheaspectofcorporatestrategy,corporatefinanceandmanagementdealingwiththebuying,sellingandcombiningofdifferentcompaniesthatcanaid,finance,orhelpagrowingcompanyinagivenindustrygrowrapidlywithouthavingtocreateanotherbusinessentity.,Mergers&Acquisitions,AMergeristheresultofthecombinationoftwocompanies(orcorporations)toformanewcompany.AnAcquisitionisonecompanybuyingthepropertyandobligationsofanothercompany.,Mergers&Acquisitions,Whenonecompanytakesoveranotherandclearlyestablisheditselfasthenewowner,thepurchaseiscalledanacquisition.Fromalegalpointofview,thetargetcompanyceasestoexist,thebuyerswallowsthebusinessandthebuyersstockcontinuestobetraded.,Mergers&Acquisitions,Inthepuresenseoftheterm,amergerhappenswhentwofirms,oftenofaboutthesamesize,agreetogoforwardasasinglenewcompanyratherthanremainseparatelyownedandoperated.Thiskindofactionismorepreciselyreferredtoasamergerofequals.Bothcompaniesstocksaresurrenderedandnewcompanystockisissuedinitsplace.E.gBothDaimler-BenzandChryslerceasedtoexistwhenthetwofirmsmerged,andanewcompany,DaimlerChrysler,wascreated.,Typesofcorporatemergers,Ahorizontalmergerjoinsfirmsinthesameindustryandallowsthemtodiversifyorexpandtheirproducts.Inahorizontalmerger,theacquisitionofacompetitorcouldincreasemarketshare.,Typesofcorporatemergers,Averticalmergeristhejoiningoftwofirmsinvolvedindifferentstagesofrelatedbusinessesamanufacturermergingwithasupplierofcomponentproducts,oramanufacturermergingwithadistributorofitsproducts.,Typesofcorporatemergers,Aconglomeratemergerunitesfirmsincompletelyunrelatedindustries.Theprimarypurposeofaconglomeratemergeristodiversifybusinessoperationsandinvestments.,Typesofcorporatemergers,AdditionalInfo,Process:,Typesofcorporatemergers,AdditionalInfo,Typesofcorporatemergers,AdditionalInfo,Typesofcorporatemergers,QuestionsforDiscussion:,Whatisthedifferencebetweenmergersandacquisitions?Givemoreexamplestoexplainhorizontalmergers,verticalmergersandconglomeratemergers.,Franchising,Afranchiseistherighttouseabusinessnameandsellproductsorservices,usuallyinaspecificgeographicalterritory.Franchisingisthepracticeofusinganotherfirmssuccessfulbusinessmodel.ThewordfranchiseisofAnglo-Frenchderivation-fromfranc-meaningfree,andisusedbothasanounandasa(transitive)verb.,Franchising,Forthefranchisor,thefranchiseisanalternativetobuildingchainstorestodistributegoodsthatavoidstheinvestmentsandliabilityofachain.Thefranchisorssuccessdependsonthesuccessofthefranchisees.Thefranchiseeissaidtohaveagreaterincentivethanadirectemployeebecauseheorshehasadirectstakeinthebusiness.,Franchising,ThefollowingU.S.listingtabulatestheearly2010rankingofmajorfranchisesalongwiththenumberofsub-franchisees(orpartners)fromdataavailablefor2004.Ascanbeseenfromthenamesofthefranchises,theUSAisaleaderinfranchising,apositionithasheldsincethe1930swhenitusedtheapproachforfast-foodrestaurants,foodinnsand,slightlylater,motelsatthetimeoftheGreatDepression.,AdditionalInfo,Franchising,Asof2005,therewere909,253establishedfranchisedbusinesses,generating$880.9billionofoutputandaccountingfor8.1percentofallprivate,non-farmjobs.Thisamountsto11millionjobs,and4.4percentofallprivatesectoroutput.,AdditionalInfo,Franchising,1.McDonaldsstartupcostsin2010,$995,900$1,842,700(37,300partnersin2010)2.7-ElevenInc.(conveniencestores)|startupcostsin2010$40,500-$775,300,(28,200partnersin2004)3.HamptonInns&Suites(midpricehotels)|startupcostsin2010$3,716,000$15,148,8005.4.GreatClips(hairsalons)|startupcostsin2010$109,000-$203,000,AdditionalInfo,Franchising,5.Jani-King(commercialcleaning)|startupcosts$11,400-$35,050,(11,000partnersworldwidein2004)6.Servpro(insuranceanddisasterrestorationandcleaning)|startupcostsin2010$102,250-$161,1507.MiniMarkets(conveniencestoreandgasstation)|startupcostsin2010$1,835,823-$7,615,065,AdditionalInfo,Franchising,Chinahasthemostfranchisesintheworldbutthescaleoftheiroperationsisrelativelysmall.EachsysteminChinahasanaverageof43outlets,comparedtomorethan540intheUnitedStates.Together,thereare2600brandsinsome200,000retailmarkets.,AdditionalInfo,Franchising,KFCwasthemostsignificantforeignentryin1987andiswidespread.Manyfranchisesareinfactjoint-ventures,asattheirformingthefranchiselawwasnotexplicit.E.g.McDonaldsisajointventure.PizzaHut,TGIF,Wal-mart,Starbucksfollowedalittlelater.Buttotalfranchisingisonly3%ofretailtrade,whichseeksforeignfran