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MULTINATIONAL CORPORATIONS




A) Read the text and make a complex plan of it.

It is important to distinguish between an international firm and a multinational corporation. An international firm is one that sells in international markets, either through exporting or controlling sales. By contrast, a multinational corporation operates production and marketing facilities on an international level. The multinational corporation considers the world its market.

Multinational firms are relatively new in the business world, yet they are becoming increasingly important. There is no specific definition of a MNC. Nor is it easy to differentiate a MNC from a company that simply has offices or factories in multiple countries. Some experts define a MNC as a company that derives at least 25 percent of its sales from foreign sources. However, that is an arbitrary figure. Others define a MNC by its size. There is general agreement that large, multibillion-dollar enterprises, such as General Electric Company, Mitsubishi Corporation, DaimlerChrysler AG, and so forth, constitute MNCs.

MNCs can use either a global or multinational strategy. A global strategy uses a standardized product which is sold in essentially the same manner throughout the world (i.e. Coca-Cola). Under a multinational strategy each national market is treated differently. Firms develop products and marketing strategies that appeal to the customs, tastes and buying habits of particular national markets (i.e. McDonalds, Pizza Hut).

Experts predict that the numbers of MNCs, joint ventures, and other international operations will rise as businesses seek to take advantage of economies of scale and the growth of new markets as a way of reducing costs and increasing profits. As the geographic boundaries over which individual companies operate become less defined, the need for people who are able to manage international activities becomes more acute. Thus, international managers are becoming more important in the business world, and their success can directly affect a company seeking to compete in the global market. As a result, business leaders are placing increased emphasis on the development of managers with expertise in international management.

Words you may need:

to distinguish – розрізняти, відрізняти

arbitrary figure– неточна цифра

joint venture – спільне підприємство

acute – сильний, гострий

 

b) Find the following words and phrases in the text and translate the sentences containing them into Ukrainian:

To distinguish between, to be relatively new in the business world, an arbitrary figure, standardized product, particular national markets, to predict, success, to place increased emphasis on.

 





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