Vocabulary

advanced technology – передовая технология

convergence n – сближение

~ of interests. – сближение интересов

consortium, n – консорциум (временное объединение международных компаний для достижения общей цели)

cross - border – adj - иностранный, зарубежный

division n – разделение

~ of labor – разделение труда

floating exchange rate – плавающий валютный курс

flow n – поток/движение

~ of trade, investment and financial capital – поток/движение торговли, инвестиций и финансового капитала

glocaliation n – глокализация

head office n – главный/головной офис

high-wage economies – страны с высокой заработной платой

information (and communication) technology – информационная технология

integrated p – всеобъемлющий, объединенный

labor-intensive job – трудоемкая работа

liberalization n – либерализация

~ of trade – либерализация торговли

localization n – локализация (адаптация к особенностям местного рынка)

low-wage economies – страны с низкой заработной платой

multinational adj – многонациональный.

pursuit n – погоня

~ of profits – погоня за прибылью

prosperity n – процветание

unprecedented ~ – беспрецедентное процветание

preserve v – сохранять

~ cultural identity – сохранить национальную cамобытность

return n – зд. оборот

to offer the great ~ предлагать самый быстрый оборот

“race to the bottom” – «гонка ко дну»

removal n – устранение

~ of controls – устранение контроля

safety laws – правила техники безопасности

scope n – масштабы, границы, возможности

slow-down n – замедление. снижение (темпов, скорости)

welfare benefits – социальные пособия

world-wide adj – мировой, всемирный

GLOSSARY

1. APEC is the Asia-Pacific Economic Cooperation, or APEC.

2. CIS is the Commonwealth of Independent States.

• Economy of scale characterizes a production process in which an increase in the number of units produced causes a decrease in the average cost of each unit. Reduction in cost per unit resulting from increased production is realized through operational efficiencies.

• EurAsEC is the Eurasian Economic Community.

• Globalization means the integration and democratization of the world’s culture, economy, and infrastructure through transnational investments, rapid proliferation of communication and information technologies and impacts of free-market on local, regional and national economies. At its simplest, globalization refers to the trend for markets to become world wide in scope.

• Glocalization is a combination of two words: globalization and localization. Companies that want to be successful in foreign markets should know the local cultural characteristics that affect the way business is done.

• Multinational Corporation (MNC) is a corporation or enterprise that manages production establishments or delivers services in at least two countries.

• OECD is the Organization for Economic Cooperation and Development.

6. Business administration

6.1. Company structure discovering connections

1. What types of business are popular in your country?

2. What kind of company would you like to work for: state-owned, private limited company, multinational cooperation, etc.? Why? Give your reasons.

3. Some people compare a small company to a family. In your view, is this analogy valid and useful? What are the benefits and risks of viewing a company as a family?

4. What do you think your first position after graduating from University will be? What are the qualities of an effective team player? What qualities could you contribute to a company after getting a degree?