III. Oral practice

In statements 1-8 each sentence has four underlined words or phrases, marked (A), (B), (C) and (D). Choose the one word or phrase, which is incorrect and must be changed to make the sentence correct.

1. The economical (A) independence of nations fosters (B) the growth of multinational firms that conduct (C) business on a global scale where markets are more important (D) than political boundaries.

2. The company must (A) concern itself with various aspects (B) of international trade, such as the value of a country's currency relative to other currencys (C) and its balance of payments, as well as extent of controls (D) on imports and exports, on foreign investors.

3. Individuals to be search (A) for careers in the sphere of international management will find (B) a great number of opportunities (C) that are available to (D) them.

4. Managers operating (A) in an international arena deals (B) with a great number of unique challenges growing out of (C) such factors as politics, economics, and cultures (D).

5. Globalization is the strategy that involve (A) the development of relatively (B)standardized (C) products with (D) worldwide appeal.

6. Governments may (A)come (B) and to go (C) or may decide to nationalize (D) companies.

7. Equally important is (A) the multinational company's (B) ability to choose the right strategy and organization applicable to(C) individual companies operational (D) in the international business arena.

8. As the more and the more (A) companies enter (B) the international business arena (C), the number of management opportunities will grow (D).

7. Read the text carefully and decide whether these statements are true or false. Reason it out. Make use of the following phrases:

There are two ways of looking at this / there can’t be two ways about it / it would be a mistake to think/ we have to bear in mind/ what commonly happens is / it’s been my observation that/ I know from personal experience/ my personal view (understanding, standing) is… / there is no denying the fact that…

1. International management is a very complicated business sphere.

2. One of the less critical factors in the success of a company's international success is its hiring program.

3. Political situation of any country is a very important matter for the international management.

4. Only big and prosperous company can get established in a foreign country.

5. Developed countries tend to be quite unstable from a political and an economic point of view, at the same time less developed countries may be more susceptible to political contest.

6. Individuals searching for careers in the field of international management will find numerous opportunities available to them.

7. National responsiveness is the strategy that allows subsidiaries latitude in adapting products and services to conform to the special needs and political realities of the countries in which they even do not operate.

8. Generally, hiring production workers is not a major problem, companies hire locals to perform the daily work.

9. But unfortunately first-level supervisors and possibly some of the middle managers won't be members of the local community.

10. As more and more companies enter the international business arena, the number of management opportunities will reduce.

8. Explain the meaning of the following phrases:

1. The international dimension of management and business – due mainly to globalization – has become a major challenge to governments, institutions and organizations.

2. When a company is first getting established in a foreign country it must take into account such factors as politics, economics, and culture.

3. There are four primary strategies that are very important for managers of international companies.

4. Managers must learn about operating effectively in an international environment.

5. In today's market, if you want an intensive and demanding management education experience with a distinctive international business flavour, you will need to study a Master's Program in International Management with Finance.

9. Translate into English:

1. Менеджмент – це процес планування, організації, мотивації та контролю.

2. Менеджери транснаціональних корпорацій повинні знати закони, звичаї та мову країни, в якій вони працюють.

3. Фірми, які планують займатися міжнародним бізнесом, перш за все повинні оцінити політичну ситуацію в іноземній країні та ставлення уряду цієї країни до бізнесу.

4. Головний ресурс компанії – її працівники.

5. Для транснаціональної компанії дуже важливо обрати правильну стратегію для роботи на арені міжнародного бізнесу.

6. Кожна транснаціональна компанія повинна вміти мати справу з іноземними моделями економічного зросту, інвестування та інфляцій.

10. Write several paragraphs on the topics suggested using the vocabulary. Make use of the following expressions:

In my opinion (view); to my mind; to my way of thinking; I’m convinced that; it is my firm belief that; it seems to me that; as far as I am concerned; it is popularly believed that; people often claim that; contrary to popular belief; regardless of the fact that; in other words; to put it another way:

- international management:

to be the first consideration of,Multinational Corporation, to utilize, to expand, to assess, inherent in, cooperation, strategies, business environment;

- globalization:

strategy, development, worldwide, union, holding, to hire, international business arena, business environment, Multinational Corporation.

11. Answer the following questions:

1. What does the notion "International management" mean?

2. What do managers operating in an international environment deal with?

3. What does a company operating in an international environment have to learn?

4. How many strategies are involved in international management? What are they?

5. What must do firms that wish to expand into a foreign country?

6. Can you give an example of the nationalization of companies in some countries? What was the result of it?

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