Encounter negative factors that prevent or hinder one

from obtaining one's goal

The well-known philosophical problem that there are

some things which may be in everybody's collective

interest, but which are not worth anybody's individual

Effort. For example, I might benefit from the

Construction of a new bridge, but not enough to justify

Building it by myself. Even if I could assemble a large

Team of friends to help me build it, there would still be

Some potential beneficiaries who have not contributed

(free-riders). The problem is how to persuade

Individuals to be contributors rather than free-riders.

6 If I don't like the way I am treated in a shop, I can

'vote with my feet' by leaving the shop and not

returning. If enough 'voters' do the same, either the

Service will have to improve or the shop will fail. In this

Context, it means showing your dissatisfaction by

Selling your shares and leaving the company.

7 be accountable for one's actions to the shareholders

at the yearly shareholder's general meeting

Collaborating or working together to resolve any

Disputes or disagreements

A regulatory framework or structure in which the

Employees are granted the right to participate in the

Management of the company

In the public eye, subject to public scrutiny, for example

By the media

C 2 d 3 b 4 a

12 1 exercise: authority, caution, control, force, influence,

Power, pressure, restraint, rights

2 restrict: access, authority, benefits, capital, control,

Freedom, power, rights, sales, spending

3 accrue: benefits, capital, interest, profits, revenue

4 dismiss: a case, a charge, a claim, an employee

Dismiss 2 exercise 3 exercise 4 restrict

Accrue(d) 6 exercise 7 restrict 8 dismiss

Suggested answer

Dear Mr Fraser

Thank you for your email of 26 September, in which you

Request information concerning the two-tier corporate

Management system found in German-speaking countries.

Administrate administration administrator

Audit audit auditor

Liquidate liquidation liquidator

Qillpetrate perpetration Qillpetrator

Appoint appointment

Assume assumption

Authorise authorisation

Form formation

Llisue llisuancejllisuing

Omit omission

Provide provision

Redeem redemption

Reauire reauirement

Resolve resolution

Transmit transmission

I understand you are interested in investing in a German

Company and would therefore like to have a clearer idea

About how this system differs from the one you are

Familiar with here in England.

Allow me to provide a brief explanation of how the two

Systems differ. In the German two-tier system, in contrast

To the Anglo-Saxon one-tier system, there is an executive

Board and a supervisory board. The executive board

Consists of the top management, and the supervisory

Board includes outside experts and executives from other

Corporations, as well as employee-related representatives.

The supervisory board serves to oversee the management

And resolve conflicts between shareholders, managers and

Employees. Unlike in Anglo-Saxon countries, employees of

Large corporations in Germanic countries are entitled to

Date: 2015-12-11; view: 1206