Ч1_2_В2 / TEST 3

Test 3

№1.

Match the words or word-combinations with their Russian equivalents.

1) flow of capital – h) движение капитала

2) supply and demand – j) cпрос и предложение

3) diversification – a) многообразие, разносторонность

4) expertise – g) компетентность

5) market share – i) доля рынка

6) business practices – e) методы ведения бизнеса

7) economies of scale – d) экономия от масштаба производства

8) competitiveness – c) конкурентоспособность

9) living standard – f) уровень жизни

10) duplication – b) копирование

№2

Fill in the gaps with the most appropriate one of the four options.

1. Globalization is reducing the gap between the rich and poor communities causing

regional insecurity and a fear of exhaustion and extinction of resources and shift of

manpower from less developed to more developed geographical area.

2. To compete with the existing world market, the products must be of high quality as

well as improve the lifestyle of the overall population.

3. As communications technologies advance and networks become more efficient,

the shift to the age of the temporary company promises to accelerate.

4. Typically, companies need manufacturing plant in various low labour cost

countries, global branding and advertising, sales teams in every major country,

expensive patent and intellectual property registration in many countries, etc.

5. Global strategy means that the organisation treats the world as largely one market

and one source of supply with little local variation.

6. Global customer satisfaction implies that multinational customers who demand the

same product, service and quality at various locations around the world - for

example, customers of the Sheraton Hotel chain expect and receive the same level

of service at all its hotels around the world.

7. It is claimed that globalization supports productivity, cultural intermingling and

flow of capital into the developing countries.

8. These mandates can make it difficult for corporations to differentiate their products and gain a competitive advantage.

9. Expatriates who don’t respond the demands of working and living abroad often return

from foreign assignments early.

10. Many countries have extensive legal barriers preventing foreigners from entering for

purposes of seeking work or residency.

1-a; 2-b; 3-c; 4-b; 5-c; 6-a; 7-c; 8-b; 9-c; 10-c;

№3

Choose the right translation of the word-combinations given.

1) market entry strategy – d) стратегия выхода на рынок

2) cross-border trade – a) торговля через границу

3) interest rate – c) процентная ставка

4) net earnings – b) чистый доход

5) operating unit – c) оперативное подразделение

6) target market – b) целевой рынок

7) differentiated product – d) дифференцированный товар

8) consumer products company – c) производитель потребительских товаров

9) real-time acquisition – d) покупка в режиме реального времени

10) low-wage workforce – b) низкооплачиваемая рабочая сила

№4

Match the terms with their definitions.

1) trade barriers – f) something, such as official rules or tariffs that makes buying

and selling between countries difficult

2) competitive advantage – h) the conditions or a particular thing that make a business more successful than the businesses it is competing with

3) resources – e) the total means available to a company for increasing production or profit, including plant, labor, and raw material; assets

4) infrastructure – i) basic facilities and services of a country, e.g. roads, water, power

5) integration – j) combining parts so that they work together or form a whole

6) acquisition – b) buying most or all of the target company’s ownership stakes

in order to assume control of the target firm

7) market share – d) the percentage of an industry or market's total sales that is

earned by a particular company over a specified time period;

calculated by taking the company's sales over the period and

dividing it by the total sales of the industry over the same period

8) offshore (adj.) – a) based or operating abroad in places where the tax system is

more advantageous than that of the home country

9) expand – g) become larger in size, amount, or number; a company

increase in sales, areas of activity, etc.

10) profitability – c) the ability of a business make money

№5

Read the sentences below and decide which word-form from the line best fits

each space.

1. As businesses grow and become more internationalized, they often outsource

their production to developing countries where labor costs are lower.

2. The question is how to leverage technology to create competitive advantage in

the marketplace.

3. With the advances in technology, computerization of equipment and automation,

more unemployment is taking place causing cultural and moral impoverishment

that lead to corruption, aggression, stress, hypertension and various health related

consequences.

4. The changes brought about by globalization threaten the viability of locally made

products and the people who produce them.

5. The conveniences of acquiring a foreign firm which include pre-existing

relationships with suppliers and customers, the expertise of existing personnel, and

obvious familiarity with the local market.

6. Increasingly shared tastes in car styling and rising costs have prompted the

leading car makers to exploit global economic of scale.

7. Core fundamentals required to capture the market include identifying potential

markets, product competition, risks involved, future growth potential, entry

strategy and costs involved to enter the market place.

8. The conflict between trade and environment arises because countries with weak

property rights appear to be more productive even when they are not, and export their

natural resources unsustainably.

9. Last year the company began an aggressive program of expansion to establish its

operations in European countries.

10. Companies should pay careful attention to how they invest in these markets,

how they make acquisitions and how they use entry strategies such as joint

ventures and strategic alliances.

1-c; 2-b; 3-d; 4-d; 5-b; 6-b; 7-c; 8-d; 9-b; 10-b;

№6

Match the words that are similar in meaning.

1) multinational(adj.) – c) global

2) rivalry – h) competition

3) tailor – a) adapt

4) outsource – i) contract out

5) implement – f) introduce

6) restrictions – b) limits

7) response – j) reaction

8) resources – e) assets

9) acquisition – g) takeover

10) costs – d) expenses

№7

Match the words with opposite meaning.

1) diversify – c) waste

2) overseas – a) domestic

3) losses – h) profits

4) dramatically – b) slightly

5) global – j) local

6) raise – i) reduce

7) diversity – g) similarity

8) expand – e) shrink

9) straight – d) indirect

10) leverage – f) duplicate

№8

Complete the sentences using the appropriate derivatives of the words in

capitals.

1. Globalization encourages the distribution of goods from one part of the globe to another and this requires appropriate packaging to keep the products protected and in perfect consistency. (DISTRIBUTE)

2. The expansion of trade in cultural products is increasing the exposure of all societies to foreign cultures. (EXPAND)

3. Cheap imports and extensive rivals on international level keep a check on the prices leading to lower inflation rates, which occasionally interrupt the economic growth and development of a nation. (RIVAL)

4. Globalization has generated better understanding towards cultural diversity and has promoted travels and tourism to understand each other to a greater extent. (DIVERSE)

5. However, some major multinationals do not have a true global

strategy in the sense of completely integrated production, no localized brands, etc. (INTEGRATE)

6. Outsourcing of production to other suppliers gives a company more flexibility and fits a global strategy. (SUPPLY)

7. Globalization can also be a profoundly enriching process, opening minds to new ideas and experiences, and strengthening the finest universal values of humanity. (RICH)

8. Increasing flows of goods and capital are the drivers of globalization, made possible by the gradual lowering of barriers to their movement across borders. (DRIVE)

9. Keeping the competitive advantage in a globalized economy now requires going beyond traditional modes of education that create a well-informed, trained, and motivated workforce. (MOTIVATE)

10. The expansion of trade in cultural products is increasing the exposure of all societies to foreign cultures. (EXPOSE)

№9

Circle the suitable preposition.

1. Global leaders know what their companies are today, what they must become to

succeed in the future, and how to make the transition.

2. Developing cultural flexibility means separating yourself from your personal

nature and understanding yourself and others so well that you can adapt for other

cultures thoroughly and instantly.

3. Delayering, a process of removing middle management layers was driven by

new technology and the need to reduce costs.

4. Development of ecotourism-based industries and also the escalating demands

and cut-throat competition to enter on the market has led to the loss of wild life.

5. Enabling people of one nation to communicate with those of other nations is the

biggest achievement in terms of globalization and development

6. The advances in nuclear technology and establishing nuclear reactors to meet

the growing demands of electricity are causing a serious damage to the soil of the

area.

7. Some industries benefit more from globalization than do others, and some nations

have a comparative advantage over other nations in certain industries.

8. Wal-Mart, the biggest world retailer, raised its net earnings by 23% due to a

large increase in its international profits.

9. Shifting to production overseas has made the company more tailored to regional

tastes.

10. Launching a product into a niche market is far cheaper than launching a mass-

market product. Potential customers are easier to identify and to target.

1-b; 2-d; 3-d; 4-a; 5-b; 6-d; 7-b; 8-a; 9-d; 10-a;

№10

Match the parts of the sentence.

1. In fact, immigration policies across the world are getting tighter

c) as governments attempt to limit the economic, cultural, and security impact

of large movements of people from one country to another.

2. The globalization of the production and distribution of goods and services is a welcome development for many people

j) because it offers them access to products that they would not otherwise have.

3. Because of lacking communications infrastructure, building a brand name is

difficult but

f) good brands are highly valued because of lower product quality of the alternatives.

4. Since the global economy is so interconnected,

d) when large economies suffer recessions, the effects are felt around the world.

5. If a flight of capital from the West is too sudden and dramatic and is not managed properly,

b) we could find very severe employment problems in the Western world.

6. The side-effects of globalization and economic trends are inadequately understood

a) as these effects are not straight but are indirect.

7. If a company sees core products become commoditized or margins squeezed too tightly,

i) it may want to consider how its core skills can be used in another sector.

8. Managing in a global environment means you manage people

h) who are separated not only by time and distance but also by cultural, social,

and language differences.

9. The worldwide commercial market becomes so flexible due to the advent of

globalization

g) that transactions of the international companies are not restricted to geographical borders of the countries.

10. Globalisation causes greater risk for developing countries workers in foreign

companies

e) as their labour can be misused, exploited by making them work more hours, making them work at night shifts.