《多維教程-熟諳》-Unit2

1、Text 2: Family Business: the Next GenerationDavid ZaudtkeDoug Ammerma1.Introductions: In Chinese, there is a saying that it is by no means easy for a clan to remain its prosperity over three generations. It is not common for a clan to remain a very humble situation over three generations either.A s

2、success of a family business seems to be checked by many factors. In different generations, all the background leading to success or failure would change. In terms of the succession to a family business, success is decided by many factors. The authors of this text have pointed out four factors. Do y

3、ou agree with the authors? )America is in the midst of one of the greatest wealth transfers in the history of mankind. Over the next 20 years, an estimated $15 trillion in assets will be transferred from one generation to the next.2.Much of this wealth transfer will be in the form of family-owned bu

4、sinesses. But theviability of many ofthese transfers is questionable . The fact is, most will fail. Typically, only one out of three businesses is successfully transferred to the second generation. Survival of a family business into the third generation is a rare occurrence .3.Thousands of family bu

5、sinesses, some of the household names, will disappear over the next decade. The sad part is that many of them could survive with proper planning. For many, however, it may already be too late. The proper time to start planning the succession of a family business is not one, not three, not even five

6、years ahead. Indeed, a comprehensive succession plan, which includes sophisticated estate planning strategies, generally requires at least a 10-year horizon to be properly structured.4.Whether large or small, high-tech or low, public or private, every family-owned business is different. Butregardles

7、s of how diverse they are, four key elements must be in place before a business can be successfully passed from one generation to another.5.Plan Your Succession ManagementOwners / founders are extremely driven and dynamic . Often they excel at more than one skill . In many cases, production experts

8、are also marketing geniuses or skilled financiers. Replacing them may require more than one person. Therefore, family business owners should determine exactly how the business functions by creating organizational charts . Each key member of the succession process should create his or her own chart.

9、These charts should then be compared. The differences will point to gaps in the management structure and highlight areas of misunderstanding and differences in perception .6.Take Judy, for instance. Judy owns a software company and has three children -a computer whiz , a racecar drive and one with a

10、 business degree but no interest in the company. In addition, Judy has a strong management team in plac e. In her case, she should consider giving ownership to children, but continuing to have the management team run the business.7.Finding people from within the family, or from outside, to fill thos

11、e spots may not be easy, nor happen overnight . Therefore, it is vital to develop an action plan and timetable early in the process in order to allow for an orderly transition of responsibilities.8.Few businesses, even family businesses, grow without the help of loyal employees.More often than not ,

12、9.they hold key positions in management. Therefore, you must keep your employees informed about long-range succession plans. Key managers must have a clear picture of where they stand and what their responsibilities will be in a succession-management structure. Develop a compensation and benefit str

13、ucture that is sufficient to attract and retain key managers as well as to motivate them to perform in the best interests of the business and the family .10.There is also the matter of timing . The children you hope will take over may be too young or inexperienced when you retired. In such cases, tr

14、ansitional management teams may be formed to provide interim management until the children are properly trained and seasoned to be in a position to manage the business successfully.11.Define Family Employment PracticesEstablish a clear employment policy for family members and stick to it. Most paren

15、ts believe their children should be treated equally. Company executives, however, must be selected on ability . Selection should be made on the needs of the business rather than on the needs of the children.12.For example, Jim owns an electric company. He treats his three children equally-all three

16、work for the company and receive the same salary. All three, however, do not work equal hours, nor are they all dedicated to the business. Instead of benefiting from the equality, there is discord and resentment in the company because only one child really works.13.Parents can pass on their legacy t

17、o their children without necessarily giving them control of a company. When the children are not suited to take over the business-about 30 percent of the time-other methods can be found for them to share in the family wealth.14.However, if you do determine that a child will carry on the business, yo

18、u should be sure your choice is capable. Ensure that he or she will receive the right education and business experience.15.Outside job experience is extremely useful for children who will one dayassume control. Working outsidethe family business can give them valuable experience, expose them to diff

19、ering management styles and give them the confidence to know that their successes are their own. Often they will receive better mentoring and more opportunities to take responsibility than they would in the family business. Proving themselves outside the family business also gives children greater c

20、redibility with employees when they do eventually take control of the family business.16.For those families that insist their children begin their careers at the family business, children should start at the level that their education and experience justify-even if it means sweeping floors, operatin

21、g a machine on the factory floor, etc. The experience will be invaluable . In addition, working their way up from the bottom will increase their respect among employees and management. In our experience, children who develop in this manner are twice as likely to succeed than children who assume unea

22、rned executive positions. Establish and Maintain Family HarmonyRivalries and jealousies can be extremely time-consuming, not to mention destructive. Once children have grown, married and have children of their own, they are considered a separate family with different -and sometimes conflicting-ideas

23、. If the business is large enough, consider seating an outside board of directors to17.18.19.ensure that the interest of the family and business are properly balanced.Develop a family business vision document to make certain family members-as well as employees, suppliers and customers-understand the

24、 future of the company. Used family council meetings to communicate to all family members about the company and issues facing it now and in the future.Companies and families that communicate often, honestly and on a timely basis increase their probability of surviving and prospering.Plan Your Estate

25、20.Poor estate planning has led to the demise of more family businesses than any other cause. In many of these cases, the liquidity needs caused by estate taxes due on the value of the family business are far greater than the business can absorb .21.In most cases, life insurance may be an effective

26、way to cover estate taxes. However, the cost of life insurance for a business reinvesting most of its capital in growing the business usually makes the insurance an impractical solution for the entire estate-tax dilemma . In most cases, there is a need to utilize other planning techniques to minimiz

27、e estate-tax costs.22.That was the case for a grocery store owner who spent all of his capital on expanding the business and not buying insurance. Unfortunately, he died after completion of the renovations. There was nothing left to pay estate taxes, so the family had to sell the business.23.With th

28、e help of your advisors, find ways to reduce or manage the transfer taxes. Again, it is important to start the process as early as possible.24.These are the four must elements. However, underlying all of them is a willingness to make difficult decisions and do what is best for the business and the f

29、amily.25.Dealing with succession issues may cause you discomfort or even great pain. However, if not addressed early in the succession process, these very same issues will come up later when it may be impossible to deal with them. Remember, your ultimate goal is the survival of the company so that y

30、our children, employees and community continue to derive the benefits your company provides.The best way to assure the existence of the family business into future generations is to deal with issues in a comprehensive manner well before the final succession is to take place. For the overwhelming maj

31、ority of family businesses, that means now.Translate the following paragraphs into Chinese:1. Owners / founders are extremely driven and dynamic |.| Often they excel at more than one skill. In many cases, production experts are also marketing geniuses or skilled financie. r|s| Replacing them may req

32、uire more than one perso.n | Therefore, family business owners should determine exactly how the business functions by creating organizational char.t s| Each key member of the succession process should create his or her own chart. These charts should then be comp.a |r|e d The differences will point t

33、o gaps in the management structure and highlight areas of misunderstanding and differences in perceptio.n2. Few businesses, even family businesses, grow without the help of loyal employees.| More often than notthey hold key positions in management . | Therefore, you must keep your employees informed

34、 about long-range succession plans. | Key management must have a clear picture of where they stand and what their responsibilities will be in a succession-management structure . | Develop a compensation and benefit structure that is sufficient to attract and retain key managers as well as to motivat

35、e them to perform in the best interests of the business and the family.Translate the following Chinese into English..9.他不但是位出色的銀行家和公認的貿(mào)易專家，而且還是位經(jīng)驗豐富的企業(yè)主管 意大利一個和平組織的志愿者不顧危險，已開赴伊拉克首都巴革達組成人體盾牌 阻止 美國 轟炸該地 。 (regardless of) 在這個家庭里， 沒有人比朱蒂更能致力于經(jīng)營房地生意。 (be dedicated to)由于經(jīng)濟不景氣，房地產(chǎn)經(jīng)紀人正處于或降低房價或

36、減少銷售量的兩難境地 史密斯先生往往靠慎重投資而獲取巨額利潤 約翰在學(xué)校里各門功課的成績都不怎么樣，但在體育方面倒是身手不凡 有條不紊的職責(zé)交接是家庭企業(yè)長期繁榮的一個條件 在制定投資計劃之前，你最好對投資前景有個清楚的了解。(not to mention )body shield ，以. (dilemma )。 (more often than not)。 (excel at) 。 (transition ; long range )。( have a clear picture of ) 盡管雕塑費時，但是仍有一些人以雕塑為職業(yè)。 (time consuming )。 (in the mi

37、dst of )10. 這家電腦軟件公司正處于從獨資經(jīng)營到合資經(jīng)營的轉(zhuǎn)化過程中Questions:Q1. What are the four suggestions do the authors give for a successful transfer of a family business?Q2. The authors make three suggestions as to how to establish and miantain family harmony. What are the suggestions?1. in the midst of = ( lit or arch

38、aic) in the middle of, in the course of e.g.: The country is in the midst of economic reform. / A little girl stood in the midst of her classmates, crying.2. transfer vt. = give the ownership or control of sth to another ; e.g.: The military government is refusing to transfer power to a democratical

39、ly elected civilian government. /m ove sth from one place to another e.g.: It took two trips to transfer all Lillians furniture to her new flat. / move officially from one job to another : e.g.: The manager has decided to transfer me to a new post in Shenzhen Development Zone. /c hange from one vehi

40、cle to another : e.g.: To get there you can transfer from the No. 2 trolley bus to the subway. /t ransfer n. = handing over the possession or control of sth/ the move of sth from one place to another; the act of moving from one job to another e.g.: the transfer of family business / the transfer of t

41、he ships cargo onto the piert r/a nsfer fee 轉(zhuǎn)會 費 / c.f.: transference = transferring or being transferred, e.g.: the transference of heat from one body to another 3 trillion : = one million million 兆，萬億4. asset n. pl. sth or sb that is valuable because they help to succee財d 富，資產(chǎn) e.g.: asset to sb/st

42、h: An outgoing personality is a definite asset to a salesman. / Good health is a great asset. / His asset included shares in the company and a house in Guangzho/u/ .c .f.: liabilities = debts or financial obligations 債務(wù)5. viability n. U = workability 可實施性 ,e.g.: The executive directors are currently

43、 investigating the viability of the proposal you have put forth. / viable adj. that can be done and will succeed切 實可行 的 e.g.: We are in favour of the program, but we want strong assurance that it is viable. |c.f.: feasibility 可行性； practicality 實際性6. questionable adj. doubtful and uncertain e.g.: The

44、 conclusion of the survey is questionable because the research was based on a very small sample of people. / c.pf.r:o blematic7. Survival of a family business into the third generation is a rare occurrence . This sentence means: It is not common that a family business can survive long enough to be t

45、ransferred to the third generation. / survive v. continue to live or exist in spite of accidents, illness or difficulties / survival n. / occurrence : = event, incident, happening e.g.: Robbery is now an everyday occurrence.8. succession U n. = 1. taking ones place, coming after sb/ sth繼 任，繼承（頭銜、王位、

46、財產(chǎn)） e.g.: Who is in succession to the throne? / Who succeeded Churchill? / succession n. U,C= 2. number of things or people coming one after the other in time or order一 連串的、接二連的：e.g. a succession of wet days, defeat, poor leaders / in succession e.g.: three championships in succession / c.f.: succes

47、sive adj. The school has won five successive games. | c.f.: legac遺y 產(chǎn)（money or property that you receive from someone after they die | heritage文 （ 化）遺產(chǎn) （important qualities, customs, and traditions that have been in a society for a long time）9. Indeed, a comprehensive succession plan, which includes

48、s ophisticated estate planning strategies, generally requires at least a 10-yeahr orizon to be properly structured. This sentence means: Actually owners need to form an overall 10-year future plan for succession, which includes complex and careful planning strategies. /c omprehensive = entire, throu

49、gh / sophisticated means very advanced, and more cleverly designed or skillfully made than other thins of the same type; having a lot of knowledge and experience of clever, fashionable thins and showing this by the way one talks and behaves, have lost natural simplicity 高度發(fā)展的、尖端的、老練的、富有有經(jīng)驗的、世故的e.g.:

50、sophisticated electronic equipment, as ophisticated businessman /h orizon n. = knowledge, experience, interest 眼界、見識 e.g.: a woman of narrow horizons / Travel can broaden one10. large or small, high-tech or low, public or private: Pay attention to the use of parallelism, which enforces the emphasis.

51、11. Regardless of how diverse they are, four key elements must be in plac =e But no matter how different they are, four key elements must be functioning. /r egardless of = in spite of , e.g.: A true professional can work with anyone regardless of age, race, or color. d/i verse adj. = different, vari

52、ous 不同的，多種多樣的 : All the members of the team come from totally diverse backgrounds. d/ iverse culture / c.f.: diversity n. e.g.: a wide diversity of opinion 眾說紛紜的看法 / diversify vt. e.g.: We must diversify our syllabus to attract students.d iversify into sth 兼營: Some publishers are now diversifying in

53、to software.12. Owners / founders are extremelyd riven and dynamic . Often they excel at more than one skill. It sentence means: Owners / founders are highly motivated and exceedingly energetic. They are often very good at quite a few skills. / driven = energetic 有魄力的，有干勁的 c.f.: drive n. e.g.: Our s

54、ales people need determination and drive/./ dynamic = energetic and forceful 精力充沛的 / excel vi. excel at/in sth = be very good at sth e.g.: She xcels at learning foreign languages and can speak English, Japanese and Russian. e/x cel oneself 勝過以往 Her meals are always very good, but this time she hase

55、xcelled herself.13. marketing geniuses = people who have great aptitude or talent for selling 14 organizational charts = charts that illustrate the administrative and functional structure of a business 15. highlight areas of misunderstanding and differences inp erception = draw attention to the area

56、s where misunderstanding differences in perception exist /h/ ighlight vt. = emphasize, stress, n. = the most interesting and most exciting part of something 最精彩的部份 c.f.: highlighter （作記號用的） 亮光筆 / perception = the ability to hear, see, or understand認 知能力 e.g.: We must study to improve our power of pe

57、rception. / c.f.: perceptible 可覺察到的、看得出的 / perceptive adj. = quick to notice and understand things 觀察敏銳的、善于理解的、富有見解的 : a perceptive analysis, comment, judgment.16. whiz = a person having great skill or ability in some particular activity of field.17. Judy has a strong management team in place. = Jud

58、y has a strong management team run the business for her.18. fill those spots = work in those positions19. in the process in order to allow for an orderly transition of responsibilities = In order to enable the transfer of responsibilities to proceed systematically and smoothly /i/n the process = in the course of action / allow for sth/ sb 在計算、估計、考慮時把某人或某事加以考慮 = permit e.g.: The journey usually takes six weeks but you shoulda llow for delays caused by caused by bad weather. / allow sth （for sb/sth） （為某目的 ）留出: I should allow an hour for the unexpected traffic jam. / transition n. pa