Self-study 4 task 14. Reading Read the text, learn new vocabulary and match the company responses to globalization to their descriptions 1-7 below

SELF-STUDY 14
TASK 14.1 Reading
Read the text, learn new vocabulary and match the company responses to globalization to their descriptions 1-7 below.
foreign subsidiary import / export joint venture
franchising outsourcing strategic alliance licensing

1. 
   A company gives the right to manufacture its product to a foreign company for a fee (= royalty). This has been done successfully by Coca-Cola and Disneyworld, although in other cases the local producer may choose to use a different brand name. ________________________________________________
   
2. 
   Similar to 1, but the term is usually used for small businesses in the retail and service sector like McDonalds and The Body Shop. Head Office has tighter control of the local business operation than in 1, and the name and brand image are always retained. __________________________________________________
   
3. 
   A company (usually small or medium-sized) trades directly with another separate company in the foreign market. Sometimes an intermediary (eg a local agent) matches buyers and sellers and provides services like dealing with customs and documentation. Retailers often use this strategy for supplies of clothing, furniture, toys, etc.____________________________
   
4. 
   A partnership in which two or more companies (often from different countries) join to undertake a major project or start a business activity. Volkswagen and General Motors entered the Chinese market through this route.____________________________
   
5. 
   A long-term partnership similar to 4, but it may be between two companies of very different sizes, such as a large manufacturer and one of its suppliers. The relationship is not as close as 4, so there is usually no sharing of costs, risks, management or profits. Motorola and Oracle have both used this approach (with suppliers and customers respectively).
   

_______________________________________________

6. 
   An international company uses a low-cost manufacturer in
   

another country, and then sells the products under its own brand name in other markets. Also called 'contract manufacturing'. This has been done by many firms in the IT area (for software development as well as hardware) and in the automobile industry.

7. 
   A parent company directly owns a company in another country. Business operations are under the control of local management, although Head Office is responsible for global strategy. Examples include Nestle, Toyota and Siemens. Some people think that the term 'multinational corporation' (MNC) should only be used for this type of organization.
   

____________________________________________

TASK 14.2 Vocabulary
Circle the correct word.

1. 
   I made a few mistakes in the exam and I don't think I passed / took it.
   
2. 
   It's not always easy to count / measure how intelligent someone is.
   
3. 
   Did you know that our French teacher can speak / talk four languages?
   
4. 
   My qualifications / qualities include a degree and an MA in chemistry.
   
5. 
   Our headteacher had had her hair cut and I didn't know / recognise her at first.
   
6. 
   In design and technology, we were given the effort / task of designing a stadium.
   
7. 
   You'll find plenty of books on the subject / lesson of business studies in the library.
   
8. 
   You have to read / study hard in order to do well at university.
   
9. 
   Look at what we did in today's lesson and we'll have a quick exam / test tomorrow morning.
   
10. 
    Our teacher asked us to choose one of our colleagues / classmates to be our partner for the next exercise.
    

TASK 14.3 Grammar

Complete the anecdote by choosing the best tense in each case: past continuous (was / were doing), past simple (did) or past perfect (had done).

A large corporation had just hired a new CEO. As the old CEO was leaving, he discreetly presented his successor with three envelopes numbered one, two and three. 'If you have a problem you can't solve, open the first of these,' he (1)_______________ (tell) the new CEO.

Well, at first things went smoothly, but after six months sales (2)______________(fall) by 10% and the shareholders were getting very impatient. The CEO (3)__________ (begin) to despair, when he remembered the envelopes the old CEO (4)________________ (give) him.
He went to his office, closed the door and opened the first envelope. The message read, 'Try blaming your predecessor.' The new CEO (5)__________ (call) a press conference and tactfully blamed the previous CEO for the company's problems. The shareholders and the press were satisfied with his explanations, and a few weeks later the CEO was relieved to see that sales (6)_____________ (improve) by 12%.
About a year later, the company was having serious production problems. The CEO (7)________ (learn) from his previous experience: as soon as he (8)_________(close) his office door, he opened the second envelope. The message read, 'You ought to reorganize.' He immediately reorganized production, and the company quickly recovered.

TASK 14.4 Writing
You have inherited €0.5mln from rich aunts (€1m total) and now want to start a business. Decide what your business will be (about 250 words).
TASK 14.5 Presentation on topic: How to manage your time more efficiently