UNIT 1
BUSINESS STRATEGY AND TACTICS
PRESENTATION
I. Read the BRIEF, answer the following questions and translate the collocations
in bold using the context and the information given below.
1. How can you define the term strategy?
2. What is the key to successful management?
3. What are the steps for setting out a company's vision?
4. What is meant by a shared sense of direction? Why is it important?
5. What is the difference between strategists and pragmatists?
6. What are fragmentation pros and cons?
7. What can be considered a source of differentiation?
BRIEF
Strategy is an outline of how a business intends to achieve its goals. The goals
are the objective; the strategy sets out the route to that objective. In the early stages,
business objectives are usually fairly simple: to survive and to achieve growth
targets. Strategies are correspondingly simple, and are often not even committed to
paper; it is enough that everyone in the company understands where it is going and
how it will get there. But as the business grows, so does the need for co-ordination.
Everyone in the business contributes to the execution of the strategy in some way.
Many managers believe that the key to successful leadership (and a successful
strategy) is articulating a long-term vision, sometimes known as a “mission
statement”, “strategic intent” or “corporate purpose”. This is a long-term view of
what a company should be doing and where it should be going.
The mission statement should be clear and understood by everyone in the
organisation. Professor Donald Sull from the London Business School suggests these
three steps for setting out a company's vision:
1. Specify the industry domain: a long-term vision should define where the
company competes. This helps managers and employees to sort opportunities in their
domain from those that distract them from their core business.
2. Specify geographic scope: does a company consider itself local, national, regional
or global?
3. Set aspirations: many companies state this in terms of global leadership or
excellence. The problem, of course, is that most companies aspire to “being number
one or number two”.
Long-term visions offer certain advantages. They give an organisation a
shared sense of direction and can motivate people to achieve the vision. Professor
Sull, however, believes that too much vision can result in managers becoming fixated
on a long-term goal rather than concentrating on the here and now. Take, for
example, Microsoft's, early vision of a world with “a computer on every desk and in
every home, running Microsoft software”. It was a vision that blinded the company to
the early potential of the Internet.
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Management thinkers tend to fall into one of two camps, according to Simon
London of the Financial Times- strategists, who believe that most companies fail
because they try to sell the wrong products to the wrong customers at the wrong
price; and pragmatists, who see business failure as mainly the result of poor
execution: missed sales targets, poor-quality products and tactical errors. The
best managers have the mental agility to deal with both the strategic and operational
issues.
Experts also say that television and Internet media have allowed advertisers to
address precise market segments. This can actually-reduce competition between
companies by enabling them to concentrate on distinct sub-markets. Yet
fragmentation increases the complexity of advertising. It also makes it necessary for
companies to think hard about their value proposition, which is the essence of
strategy.
Nicholas Carr, author at the Harvard Business Review, looks at competitive
advantage from the viewpoint of information technology. He argues that IT has
become so diffused through the economy that it is no longer a source of
differentiation; technology is now a cost of doing business. This challenges
managers to think again about adding value in ways that are difficult for competitors
to replicate.
Extra info
Marketing strategies serve as the fundamental underpinning of marketing plans
designed to fill market needs and reach marketing objectives. Plans and objectives are
generally tested for measurable results. Commonly, marketing strategies are
developed as multi-year plans, with a tactical plan detailing specific actions to be
accomplished in the current year. Time horizons covered by the marketing plan vary
by company, by industry, and by nation, however, time horizons are becoming
shorter as the speed of change in the environment increases. Marketing strategies are
dynamic and interactive. They are partially planned and partially unplanned. See
strategy dynamics. Marketing strategy involves careful scanning of the internal and
external environments. Internal environmental factors include the marketing mix,
plus performance analysis and strategic constraints. External environmental factors
include customer analysis, competitor analysis, target market analysis, as well as
evaluation of any elements of the technological, economic, cultural or political/legal
environment likely to impact success. A key component of marketing strategy is
often to keep marketing in line with a company's overarching mission statement.
Once a thorough environmental scan is complete, a strategic plan can be constructed
to identify business alternatives, establish challenging goals, determine the optimal
marketing mix to attain these goals, and detail implementation. A final step in
developing a marketing strategy is to create a plan to monitor progress and a set of
contingencies if problems arise in the implementation of the plan.
A mission statement is a short written declaration made by an organisation, intended
to communicate its aims to customers, employees, shareholders and others.
A value proposition is a promise of value to be delivered and a belief from the
customer that value will be experienced. A value proposition can apply to an entire
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organization, or parts thereof, or customer accounts, or products or services. Creating
a value proposition is a part of business strategy.
II. Match the following English and Ukrainian collocations:
1.
strategy
2.
3.
outline
growth targets
4.
5.
long-term vision
mission statement
6.
7.
8.
9.
10.
11.
strategic intent
corporate purpose
industry domain
core business
geographic scope
aspirations
12.
13.
global leadership / excellence
shared sense of direction
14.
15.
16.
17.
18.
strategist
pragmatist
poor execution
missed sales targets
poor-quality products
19.
20.
21.
tactical errors
strategic and operational issues
precise market segments
22.
23.
24.
25.
26.
27.
sub-markets
fragmentation
value proposition
competitive advantage
source of differentiation
adding value
a)
надання специфіки, важливості,
цінності
b)
географічні межі
c)
головний
стратегічний
принцип, гасло компанії
d)
загальна бізнесова мета
e)
загальне уявлення, основні
принципи
f)
конкретні ринки збуту
g)
конкретні сегменти ринку
h)
конкурентоспроможність
i)
лідерство на світовому рівні
j)
невиконання обсягів продажу
k)
непрофесійне
виконання
практичних завдань
l)
низька якість товарів
m) основний профільний напрямок
діяльності
n)
перспективні цілі
o)
прагматик, реаліст
p)
прагнення
q)
розподіл
r)
специфічні позитивні риси
бізнесу
s)
спільні орієнтири
t)
стратегічні наміри
u)
стратегічні
та
тактичні
проблеми
v)
стратегія
w) сфера виробництва
x)
тактичні помилки
y)
теоретик із стратегічних питань
z)
цілі економічного розвитку
aa) цінова пропозиція, політика
UNIT 1
BUSINESS STRATEGY AND TACTICS
TRANSLATION AND INTERPRETATION
8
PART I
I. Before you read, answer the questions:
 What is strategy?
 How important is it for every business to have a strategy?
II. Reading
Read this article and fulfill the tasks below.
PLAN TO THINK STRATEGICALLY
1 Strategy is, very simply, an outline of how a business intends to achieve its
goals. The goals are the objective; the strategy sets out the route to that objective. In
the early stages, business objectives are usually fairly simple: to survive and to
achieve growth targets. Strategies are correspondingly simple as well, and are often
not even committed to paper; it is enough that everyone in the company understands
where it is going and how it will get there. But as the business grows, so does the
need for co-ordination. Accordingly, there is a need for a mutually agreed and
accepted strategy for the business.
2 Some theorists, such as Alfred Chandler, the business historian, would say
this is the wrong way to go about it. A strategy should he developed first, and then
the organisation tailored to meet the requirements of the strategy. But this is easier
said than done. Strategy is also constrained by the company's capabilities. Following
privatisation in the 1990s, several British gas and electricity companies branched out
into retail operations, selling domestic appliances in high-street shops. Most of these
shops quickly closed when it transpired that the companies had no experience or
expertise in retailing. This was not a matter of organisation, but of the wrong
companies doing the wrong things.
3 Strategy, then, is the art of the possible, and needs to take account of time
and resources available. Many managers like to have a formal strategy, a written
document to which managers and staff sign up and which sets out everyone's
responsibilities in meeting the company's goals. This formal approach has its critics,
notably the Canadian guru Henry Mintzberg, who believes that most companies
evolve their strategy as they go along. ‘Emergent’ strategy adapts continuously to
changing circumstances and environment.
4 Another possibility is that managers adopt a mixture of both methods with a
formal strategy document creating a framework within which managers respond to
events as they arise and make ad-hoc decisions. There is an old adage that
‘everything in strategy is very .simple, but nothing in strategy is very easy’. One of
the first things the novice manager learns is that strategic plans are almost never
executed as intended.
5 No matter how careful the planning process has been, there will always be
unknown factors and unforeseen events. Known in the jargon as ‘turbulence’ or
‘friction’, these build up until they threaten to derail the original plan. This usually
means that the original plan must be adapted or, in extreme cases, scrapped and a new
9
plan developed instead. Flexibility is key to good strategic thinking. Is it better to go
through obstacles or round them?
6 There is a perception in some quarters that strategy is somehow the preserve
of senior managers, who carry out the strategy while everyone else puts their head
down and gets on with the job. This is a mistake. Everyone in the business
contributes to the execution of the strategy in some way, even if only indirectly.
Every department has its role to play -even the cleaning staff and the post room help
to contribute to the success of the strategy, by ensuring that offices are clean and
communications keep flowing, leading to greater efficiency. If there is a group or
department that is not contributing to the strategy, then it is wasting resources and
should be dispensed with.
7 Once the company's goals have been established, every ounce of energy
should be devoted to carrying out the strategy to reach those goals. This does not
mean that the strategy, and indeed the goals themselves, will not change. Change
ebbs and flows, and it takes quiet and creative thinking to recognise the need for it
and adapt the existing strategy accordingly. Ultimately, strategy is not a matter of
formal documents and plans, but a way of thinking.
III. Read the whole article and match these headings to the correct paragraphs,
translate them into Ukrainian/ Russian.
 Strategy: a way of thinking
 Flexibility is key
 What is strategy?
 All-round participation and efficiency
 A formal or an ‘emergent’ approach?
 Fit the company to the strategy
 Have a strategy but be flexible
IV. Read paragraph 1 again and say whether these statements are true or false,
translate them into Ukrainian/ Russian.
a)
Strategy in business is about how you go about achieving your goals or
objectives.
b)
Initial business objectives for a company are survival and achieving growth.
c)
Strategies should always be put in writing so that everyone in the organisation
understands them.
d)
As a company gets bigger, there is less need to discuss strategies, as every one
should understand where the company is going.
V. Find expressions in paragraph 2 that mean the same as these phrases.
 not the correct method to adopt
 adapted to the criteria
 simple in theory but difficult to put into practice
 diversified
 a question of
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VI. Choose the best alternative to complete this summary of paragraph 3.
Strategy is the art of the possible. Many managers...
a)
...are provided with a written document setting out the company's strategy,
although this emergent approach has been criticised by Canadian guru, Henry
Mintzberg.
b)
... prefer to have a written document setting out the company's strategy,
although this approach has been criticised by those who prefer an ‘emergent ’ strategy
which adapts to each situation.
c)
... need to have a written document describing the company’s strategy and
everyone’s responsibilities which all members of staff have to sign. Some business
gurus, however, favour an ‘emergent’ approach which constantly changes depend on
the environment.
VII. Read paragraph 4 and find words or phrases that are similar in meaning to
the following.

set of rules, ideas or beliefs on which decisions are based

happen

not planned, or done only when necessary

proverb or wise saying

new or inexperienced
VIII. Read paragraphs 6 and 7 and choose the best meaning for the words and
expressions in italics in the context of the article, give their contextual
equivalents.
a) There is a perception in some quarters...

in some areas of a city

according to some people

in certain departments
b) the preserve of senior managers

area of land that is kept for private hunting or fishing

activity that is only suitable for a particular group of people

activity of making something without changing it
c) every one else puts their head down

lies down or has a rest

thinks that something is caused by something else

concentrates or works hard individually
d) ..gets on with the job.

continues doing

stops doing

enjoys doing
e) Change ebbs and flows

flows away from the shore

is constantly occurring

is necessary
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IX. Match the verbs (1-10) with the phrases (a-j) to make expressions from the
text, provide their Ukrainian/ Russian equivalents.
1. achieve
a) the original plan
2. meet
b) a mixture of both methods
3. set out
c) ad-hoc decisions
4. adopt
d) everyone's responsibilities
5. create
e) growth targets
6. make
f) obstacles
7. scrap
g) the requirement
8. go round
h) a framework
9. waste
i) those goals
10. reach
j) resources
X. Roleplay the dialogue discussing the following statement and answering the
questions.
‘Everything in strategy is simple but nothing in strategy is very easy.’
 What kind of difficulties do companies experience when trying to put their
strategies into practice?
 How would you describe the strategy of the company or organisation where
you study?
 Compare it with other similar organisations using the Internet. What are the
similarities and how do they differ? Whose is the most/least successful strategy
and why?
XI. Practise consecutive / simultaneous interpretation of the discussion.
XII. Present your translation-oriented analysis of the article PLAN TO THINK
STRATEGICALLY using the prompts below.
RECOMMENDED PROCEDURES OF TRANSLATION ORIENTED
ANALYSIS PRESENTATION
The presentation should manifest the results of the translation oriented
analysis. Mind that it may not always be possible to reveal every item of the whole
process for any text. To fulfill a translation-oriented analysis, one should characterize
the following aspects of the source text:
1. The type (documentary or instrumental translation, mixed type), functional style
and substyle of the source text.
3. Comment on the techniques of title translation.
2. The subject matter and macrostructure the text. Give a summary of the extract (or
the story) under consideration (the gist, the content of the story in a nutshell).
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State the problem raised (tackled) by the author. Formulate the main idea conveyed
by the author (the main line of the thought, the author's message).
4. Analyze the compositional pattern (the exposition (introduction); the development
of the plot (an account of events); the climax (the culminating point); the denouement
(the outcome of the story)) of a complete story (chapter, episode), taking into account
the means of cohesion and coherence and theme and rheme structure.
Follow the formula: Source text description - methods of translation + your
argumentation. It implies that, firstly, you should dwell upon the source text part
peculiarities (type of vocabulary, lexical and stylistic devices) employed by the
author to achieve the desired effect, and then suggest your interpretation and
comment on the applied translation techniques.
XIII. Give the sight translation (Ukrainian-English, English-Ukrainian) of the
articles.
Strategic Vs. Tactical Thinking
One of my favorite quotes is: "Keep your nose to the grindstone, your shoulder
to the wheel, and your ear to the ground. Now, try to get some work done in that
position!" Unfortunately I don't know who said it, but they must have been having a
moment of extraordinary clarity. The point: If you're always focused on the task in
front of you, you may miss the opportunity to get better results by looking at the
bigger picture.
In working with both large and small organizations, I get to see many examples
of leaders using short term tactical thinking to try to address strategic issues. It's easy
to get caught up in reacting to the current symptom or problem that is causing
immediate pain, rather than proactively tracing the issue back to its root cause to find
a long term fix that will take the organization to a higher level of overall
performance. This can be said more simply: "When you're up to your rear end in
alligators, it's easy to forget that you started out to drain the swamp."
Example: I once spoke with the leader of a multimillion dollar company who
wanted help with "a turnover problem." For several years the company had
experienced an extremely high level of turnover in some of their key managerial
positions, and this problem had cost them literally millions of dollars. He was very
specific about what he wanted: "What test can we use to hire better quality people for
this position?" I had a very different take on his situation, and my thinking was that
he should be asking a much different question: "What is the flaw in our culture and
decision making processes in this company that has allowed us to lose millions of
dollars before we even began to realize that there was a serious problem that needed
to be addressed?"
There is a big difference between "doing things right" and "doing the right
things." The first is tactical thinking, and the second is strategic thinking; the first is
management, and the second is leadership. Clearly both are needed to run a
successful organization, but it's important to make sure you are steering your ship
where you want it to go rather than clinging desperately to the anchor chain as it
drags you through the water. And while we're on ship metaphors, we shouldn't leave
13
this topic without paying homage to that old adage about "arranging the deck chairs
on the Titanic," which so succinctly and poignantly points out the futility of perfect
tactical implementation of a flawed strategic plan.
Techniques
Technique #1: Practice a proactive leadership approach; concentrate on getting
results at the "big picture" level.
Technique #2: Be sure to differentiate between short term symptoms and long term
root causes when addressing issues and opportunities.
Technique #3: Create regular and recurring time with your team for strategic
thinking and planning; it's a good investment to take time to work "on" your business
as well as "in" your business.
Тактичне і стратегічне мислення
Тактика, відрізняється від стратегії тим, що тактика дозволяє виграти
битву, стратегія - війну.
Тактика - сукупність методів і прийомів, застосовуваних для досягнення
поставленої мети, є частиною стратегічного плану.
Для того щоб визначити тип мислення людини і прогнозувати її
поведінку, достатньо вислухати її оцінку події чи явища. Тактичне мислення
притаманне найманому працівникові. Стратегічне мислення притаманне
роботодавцю.
Поспостерігаємо в часі, до чого призводить тактичне мислення. Людина з
тактичним мисленням робить акцент на погане. Вона починає шукати недоліки
в оплаті праці і, щоб менше працювати, починає хворіти. Хворіти, щоб
офіційно нічого не робити за цю нібито маленьку платню. З'являється
інвалідність і офіційна платня за байдикування. І щоб нічого не робити, але
отримувати ще більше, людина отримує інвалідність не 3 групи, а 1 групи. Цим
закінчується тактичне мислення.
Стратегічне мислення демонструє людина, яка розуміється на поведінці
людей і економіці, знає, що заробітної плати великої не буває. Великим буває
тільки прибуток від своєї справи. Для того щоб мати великий прибуток, треба
багато чого зробити. Тому господареві завжди невигідно хворіти.
Пропоную розглянути приклади тактичного і стратегічного мислення:
Для тривалих космічних подорожей вчені NASA пропонують використовувати
анабіоз. Ідею їм підказали черв'яки, рухи яких уповільнюються і тим самим
продовжується їхнє життя в шість разів. Анабіоз для людини те, що і старість
(старість - що змінює вік, відбувається поступове ослаблення та уповільнення
процесів організму). Щоб штучно зробити людину старим і хворим, сповільніть
його «життя», обмеживши його у русі. Що й відбувається в тюрмах, де
пересування штучно обмежується розмірами камери, у результаті купа хвороб і
рання смерть.
Ще один приклад тактичного мислення: порада, який дає диктор по
телебаченню: «Бережіть себе». Поспостерігайте в часі за тією людиною, хто
виконає цю пораду. Спочатку, уповільнивши рухи, вона буде мати слабкі м'язи,
14
потім настане атрофія і мала рухливість, потім інвалідність, некроз тканин - і
смерть.
Стратегічно мисляча людина шукає більш ефективний спосіб для
досягнення своєї мети. Змушує людей бути активними і дає пораду не бережіть
себе, а тренуйте себе.
PART II
MISSION STATEMENTS
I. Before you read, answer the question:
 Do you think mission statements are useful to the organizations, their
customers, employees, shareholders groups? Why (not)?
II. Reading
Read this article and answer the questions.
WHY SO MANY MISSION STATEMENTS ARE MISSION IMPOSSIBLE
1 The woman behind the desk at Avis Rent-A-Car had been chatting freely for
some time, but developed a dreadful speech impediment as soon as I queried the bill.
‘I’m afraid you’re liable for the flat tyre’' she declared, sounding like a robot reciting
the small print from a regulatory document. ‘It’s company policy.’ But it was flat
when you gave me the car! ‘It’s our company policy.’ But I only drove it out of the
car park and back!! ‘It's company policy.’ But I’m a regular customer and a
shareholder!!! ‘It's company policy.’
2 This treatment continued for a while. Halfway through the encounter - which
ended with my threat to sell my shares in Avis Europe, never to use Avis again and to
complain about it to everyone I meet for the remainder of my hopefully very long life
(have followed through with the first threat, am working on the latter two) - I noticed
that Avis's 42-year-old mission statement was emblazoned on surfaces around the
office. ‘We Try Harder,’ it proclaimed. The words haunted me as I stomped off to
write a long and ultimately unsuccessful letter of complaint. We Try Harder? Try
harder to do what? To irritate our loyal customers? To drive them away?
3 Weeks later, the words were still swilling around my head. So, as an outlet
for my rage, I began researching the subject of' mission statements, to find out if they
are all as annoying as Avis's. Surprisingly, there is a substantial amount of literature
available on the subject: tens of books and theses with lively titles, such as Libraries,
Mission and Marketing: Writing Mission Statements That Work. Broadly, the authors
fall into two camps: those who think mission statements are not worth the paper,
plaster and plastic they are written on, and those who think they are fabulous. Among
the critics, it is customary to cite Enron's mission statement, which famously declared
that the company was ‘open and fair’.
4 Meanwhile, among proponents, it is almost obligatory to craft a mission
statement for mission statements: to set out in precise detail the essential ingredients
15
for declarations of company philosophy. One expert insists that there are exactly five
things mission statements should cover: the purpose, goals, products, markets and
philosophical views of the organisation. Another insists on no less than eight key
elements. Yet another insists that the best test of a mission statement is being able to
identify the company when one crosses its name off the statement.
5 On reflection, I cannot side with either camp. There is something natural
about mission statements after all, what is the American Declaration of
Independence, if not a mission statement? But, at the same time, since the 1982
publication of In Search of Excellence, which advised companies to articulate clearer
goals, the fad has spread too far.
6 The tiniest businesses are now drafting long statements that bang on
tediously about ‘passion’, ‘integrity’ and ‘excellence’. And a quick Google search
reveals that now even individuals and families are getting in on the act. The prospect
of the latter is particularly perplexing. Families do not need mission statements. And
neither do businesses for that matter: if you have a real raison d’être, as James Collins
and Jerry Porras put it in Built To Last, ‘a visitor could drop into your organisation
from another planet and infer the vision without having to read it on paper’. But
while businesses do not need them, mission statements need not be a source of
irritation, if they are: (1) short, (2) clear and (3) realisable.
7 All the best corporate mission statements adopt this modest approach. Walt
Disney’s aim ‘to make people happy’ springs to mind, as does Wal-Mart’s aim ‘to
give ordinary folk the chance to buy the same thing as rich people’. 3M’s aim ‘to
solve unsolved problems innovatively’ and Google’s simple aim ‘not to be evil’. As it
happens, Avis's 'We Try Harder', which the company describes on its website as its
‘rallying cry’, fits my criteria perfectly. It is short, memorable and realisable. Indeed,
there is no problem with the mission statement at all. The problem, judging from my
experience and from Avis's recent lamentable corporate performance, is that the
company has given up trying, to make its mission statement a reality.
III. Read the whole article and choose the best option, translate into
Ukrainian/Russian.
The writer probably...
a)
had had an interest in mission statements before his experience at Avis.
b)
has come to dislike all mission statements since his experience at Avis.
c)
wrote this article, in part, to complain about his experience at Avis.
IV. Read paragraphs 1 and 2 and put the events in the anecdote in order.
a.
The Avis woman told him mechanically that he was legally responsible for the
cost of repair.
b.
The client walked away angrily, imagining that the company was trying hard to
behave in a way that makes customers leave.
c.
The client explained that the car had a flat tyre before he drove it and that he
was someone who used the company's service often.
d.
Her voice changed when the client asked a question about the charges.
e.
The client noticed that the company's mission statement was clearly visible on
16
objects around the Avis office.
f.
The Avis woman was talking in a friendly way to the client.
V. Find words and expressions in paragraphs 1 and 2 which can replace the
phrases in italics in Exercise 2, translate them into Ukrainian/Russian.
VI. Read Paragraphs 3 and 4 and say whether these statements are true or false.
The writer of this article ..
a)
could not stop thinking about the words the Avis woman had used.
b)
decided to investigate mission statements as a way to deal with his anger.
c)
discovered that some MA and PhD students have written long studies on the
subject.
d)
says that a title is ‘lively’ for humorous effect, because he really believes it’s
boring.
e)
argues that mission statements can be categorised into two groups.
f)
found experts were remarkably consistent about what makes a good mission
statement.
VII. Read paragraphs 5 and 6 and choose the best meaning for the words and
expressions in italics in the context of the article, translate them into
Ukrainian/Russian.
a) On reflection, I cannot side with either camp.

agree with

get angry with

give an opinion on
b) ... the fad has spread too far.

influence of something

enthusiastic devotion to something

practice that becomes very popular for a short time
c) that bang on tediously about ‘passion’, ‘integrity’ and ‘excellence’.

show that they are confident and happy

talk continuously about something in a boring way

express views and opinions in a very loud, forceful way
d) individuals and families are getting in on the act.

beginning to do something that others are doing

watcthing the activities of companies with great interest

putting pressure on companies to produce mission statements
e)
…a visitor could drop into your organisation from another planet
stop doing something
take something to a place
visit without arranging a time
f) … if they are: (1) short, (2) clear and (3) realisable.

possible to fulfil

easy to understand
17

dealing with situations in a practical way
VIII. Read paragraph 7. Match the adjectives (1-6) with the nouns they go with (af).
1. modest
a. problems
2. ordinary
b. approach
3. unsolved
c. mission statement
4. rallying
d. folk
5. memorable
e. corporate performance
6. lamentable
f. cry
IX. Complete these sentences with the correct adjective from the previous exercise,
translate them into Ukrainian/Russian.
a)
It was a truly…….conference. All the participants said it had been enjoyable
and worthwhile.
b) If something is average, common or usual, it is described as ‘……’.
c) The company encourages all its employees to stay in ….three-star hotels when
they travel for business.
d) When you can’t find an answer or explanation for a mystery, it remains……
e) The saleswoman’s treatment of the customer was….., and he left feeling very
dissatisfied.
f) The chairman’s ….. speech called on all the staff to support the company’s
strategy.
X. Roleplay the dialogue discussing the mission statements from paragraph 7
and answering the questions:
Do you agree with the writer's assessment of them? Which do you like most?
XI. Practise consecutive / simultaneous interpretation of the discussion.
XII. Present your translation-oriented analysis of the article WHY SO MANY
MISSION STATEMENTS ARE MISSION IMPOSSIBLE using the prompts
given in INIT 1 Part I.
XIII. Give the sight translation (Ukrainian-English, English-Ukrainian) of the
articles.
A mission statement
A mission statement is a statement of the purpose of a company or
organization. The mission statement should guide the actions of the organization,
spell out its overall goal, provide a path, and guide decision-making. It provides "the
framework or context within which the company's strategies are formulated."
Effective mission statements start by effectively articulating the organization's
purpose, its raison d'etre or reason for existing. Commercial mission statements often
include the following information: aim(s) of the organization; the organization's
18
primary stakeholders: clients/customers, shareholders, congregation, etc.; how the
organization provides value to these stakeholders, for example by offering specific
types of products and/or services.
The commercial mission statement consists of 3 essential components:

Key market – who is your target client/customer? (generalize if needed)

Contribution – what product or service do you provide to that client?

Distinction – what makes your product or service unique, so that the client
would choose you?
Examples of mission statements that clearly include the 3 essential components:
For example:
McDonalds - "To provide the fast food customer food prepared in the same highquality manner world-wide that is tasty, reasonably-priced & delivered consistently in
a low-key décor and friendly atmosphere."
Key Market: The fast food customer world-wide
Contribution: tasty and reasonably-priced food prepared in a high-quality manner
Distinction: delivered consistently (world-wide) in a low-key décor and friendly
atmosphere.
Courtyard by Marriott - "To provide economy and quality minded travelers with a
premier, moderate priced lodging facility which is consistently perceived as clean,
comfortable, well-maintained, and attractive, staffed by friendly, attentive and
efficient people"
Key Market: economy and quality minded travelers
Contribution: moderate priced lodging
Distinction: consistently perceived as clean, comfortable, well-maintained, and
attractive, staffed by friendly, attentive and efficient people
The mission statement can be used to resolve trade-offs between different business
stakeholders.
Місія організації
Одним із головних завдань менеджменту є встановлення цілей, заради
досягнення яких формується, функціонує і розвивається організація як цілісна
система.
Цільова функція починається із встановлення загальної мети
підприємства, яка показує причину його існування. В літературі вона
позначається такими поняттями, як "політика", "філософія", "місія". У ній
деталізується статус підприємства, декларуються принципи його роботи і
справжні наміри керівництва,
дається
визначення
найважливіших
характеристик організації.
Формулювання місії повинно охоплювати наступне:

завдання фірми з огляду на її основні послуги та продукцію, її основні
ринки та технології (тобто, якою підприємницькою діяльністю займається
фірма);

зовнішнє середовище фірми, яке визначає робочі принципи фірми;

культура організації; якого типу робочий клімат існує всередині фірми;
19
який тип людей він приваблює.
Нині закони ринкової економіки, які вступають у силу, вимагають певних
правил поведінки господарюючих суб'єктів. Серед них — чітке визначення
місії організації, яка дає уявлення про її призначення, необхідність і корисність
для навколишнього середовища, співробітників, суспільства в цілому.
Центральним моментом місії є відповідь на запитання: яка головна мета
організації?
За приклад можна навести формулювання місії компанії "Форд" - надання
людям дешевого транспорту. В ній чітко визначена галузь діяльності компанії транспорт, споживачі продукції — люди, а також орієнтація на широке коло
споживачів. Таке формулювання місії здатне впливати на стратегію і тактику
всієї діяльності компанії.
Місія не повинна залежати від фактичного стану організації, форм і
методів її роботи, оскільки в цілому вона виражає погляд на майбутнє,
показуючи, на що будуть спрямовані зусилля і які цінності будуть при цьому
пріоритетними. Через це в місії не прийнято визначати головну мету як
одержання прибутку, не дивлячись на те, що прибуткова діяльність є
найважливішим фактором життєдіяльності організації.
UNIT 1
BUSINESS STRATEGY AND TACTICS
TRANSLATION
I. Listen and state the five components of business strategy. Give the summary
in Ukrainian/ English.
II. Listen to the recommendations. Give the summary in Ukrainian/ English.
III. Insert the missing words and phrases.
I want to show you why most mission statements are so terrible.
Let's say you founded 1________. And your first idea for a mission statement
is something like this: "Our mission is 2_______ the tastiest damn pizza in Wake
County." That's pretty good. If I worked for you, I could get excited about that. Now
here's how it will 3_______. So you'll call your colleagues around the conference
room table to unveil the mission, and all of the sudden, these people that you like and
respect are going to transform into 4_______ English teachers, 5_______ every word.
Everybody starts chiming in with opinions:
"Hey, I really like the word 6_______ better than 'serve,' it has a nice
resonance." And someone else will say, "Well, we obviously can't say 7_______,'
that's just offensive." And so it begins. And as you go around the table, your mission
statement will be pecked to death. We can't limit ourselves to Wake County--and
also, it's not just tasty pizza right, it's about freshness--we should say "high quality"
not tasty. Isn't it 8_______ that we mention pizza but not our great salads and
20
calzones? What if we changed it to "highest-quality Italian food"? That's good but
even "Italian" seems limiting--what if we decide to move into gyros? Hold the phone,
people, we haven't even mentioned the great family atmosphere--the coloring books
and big comfy booths and all that. Great point--you know what we're really doing
here, at the end of the day? We're providing a family 9_______!" Yeah, solution!
NAILED IT.
Everyone's excited now. You're almost there. And then Steve at the end of the
table pipes up ...
Listen, guys, we haven't mentioned anything about 10_______. That's what it's
all about, at the end of the day. Integrity. And is anyone at the table gonna go to the
mat against including "integrity?" Nope. So it's in. And 11_______ --there's your new
mission statement:
"Our mission is to present with integrity the highest-quality entertainment solutions
to families."
That's what 99% of the world's mission statements sound like, and I think you see
12_______ here--getting so vague and 13_______ with the language that it just
becomes meaningless. Here are 2 ways to avoid it:
Use 14_______. Check out this mission statement from SonicBids, a fast-growing
small business: "We want to help musicians get gigs, and promoters book the right
bands. ... We're a bunch of people who think that music can truly change the world
and make it smaller and better. ... We believe that independent music belongs
everywhere: on festival stages; in video game consoles; on film screens; in college
theaters; on the radio; in advertisements; on club stages and at sporting events."
Wow. It gives you a picture of what they do and tells you why it's worth doing.
Talk about the why. Most mission statements are all 15_______ and no mission. The
whole point is to say why you're doing what you're doing. What makes you care?
Look at the start of Johnson & Johson's famous credo: "Our first responsibility is to
the doctors, nurses, and patients, mothers and fathers and all others who use our
products and services." Well, okay, that's worth getting out of bed for. Compare that
with ExxonMobil's. Did you feel that? A little part of your 16_______, reading that.
So you've seen why bad mission statements happen and two tips for making yours
different. And in the meantime, let me challenge you to do the impossible: Write a
mission statement that means something. And I'll give you a 17_______: If it
contains the word "solution," you're not there yet. Thanks for watching.
IV. Practise consecutive / simultaneous translation of the information.
UNIT 2
PARTNESHIP
PRESENTATION
I. Read the BRIEF, answer the following questions and translate the collocations
in bold using the context and the information given below.
1. How can you define the term partnership?
2. What do the partners share and contribute?
21
3. How are the partners rights defined?
4. What types of partnership do you know?
5. What is meant by the public private partnership? Who benefits in this case?
6. What are the problems of public private partnership?
7. What is characteristic of private-sector provision in developing economies?
BRIEF
Common types of partnership
The Longman Business English Dictionary defines a partnership as a relationship
between two people, organisations or countries that work together. In business terms,
it is usually an association of two or more people who go into partnership by
pooling resources and sharing ownership, responsibility, control, profits, losses and
liabilities of the business. Each person contributes something to the business, such as
ideas, expertise, money or property. The partners define their management rights and
personal liability in a legal contract. A silent partner is a person who invests in a
company or partnership and shares in the profits or losses, but does not take part in
management of the business.
Another type of partnership is a strategic alliance between two or more companies
to achieve a set of specific goals while remaining independent businesses. Strategic
alliances come in many forms, including joint ventures and investments, and the
development of common processes (e.g. supply chain) to increase the performance of
both companies.
A third form of partnership is a co-operative relationship between people or
groups who agree to share responsibility for achieving some specific goal. For
instance, a charity might collaborate with a local government department in order to
co-ordinate services. In this case, there may not be any shared equity or formal legal
contract.
Public private partnerships
A public private partnership (PPP) is an agreement between the public and
private sector on the provision of public infrastructure projects. In a PPP, or P3,
scheme elements of a service previously run solely by the public sector are now
provided through a partnership between a government agency and one or more
private-sector companies. Unlike full privatisation, when the service is expected to
operate like a private business, the government continues to participate in a PPP in
some way and may maintain ownership of the assets.
When public and private sector try to work together, there is often a clash of
cultures. However, there is a lot to be gained for both partners from working together.
The public sector benefits from the expertise and resources of private business. The
private sector offers better-quality services and responds more quickly to public
demand. Then there are commercial benefits to the private sector of working on large,
lucrative public contracts. A private company can also enhance its image and try to
influence public policy-making.
This private-sector involvement is not without its controversy: Why should
governments turn to the private sector when they have traditionally provided these
22
services themselves? Aren't private companies less accountable than governments to
the public? Will private companies take short cuts in order to increase profits? Will
the need for public private partnerships increase?
Private-sector provision in developing economies
In many developing countries, the business sector has virtually taken over the
delivery of public services because these governments do not have the resources to
undertake large infrastructure projects. Poor countries may be required to liberalise
their industrial, service or agricultural sectors through trade negotiations at the
World Trade Organisation. Critics of this approach argue that there must be
government controls to ensure that business delivers fair services to people.
II. Match the following collocations:
1. go into partnership
2. pooling resources
3. share ownership
4. liabilities
5. expertise
6. silent partner
7. strategic alliance
8. specific goals
9. joint venture
10. cooperative relationship
11. shared equity
12. public private partnership
13. infrastructure
14. privatisation
15. private sector
16. public sector
17. take short cuts
18. liberalise
19. trade negotiations
a)
спільно
володіти
акціями
підприємства
b)
державний сектор
c)
державно-приватнa
форма
партнерства
d)
ефективні
партнерські
відношення
e)
зобов’язання (заборгованість)
f)
інфраструктура
g)
компаньйон, який представляє
фірму, але який не бере активної
участі у веденні її справ
h)
конкретні цілі
i)
лібералізувати
j)
піти коротким шляхом
k)
практичні навички, досвід
l)
приватизація
m) приватний сектор
n)
спільне використання ресурсів
o)
спільне підприємство
p)
спільний капітал
q)
ставати партнерами
r)
стратегічний союз
s)
торгівельні переговори
UNIT 2
PARTNERSHIP
TRANSLATION AND INTERPRETATION
PART I TOLL SYSTEMS
23
I. Before you read, answer the question:
 What are the arguments in favour of paying tolls on roads?
II. Reading
Read this article and fulfill the tasks below.
AN ITALIAN JOB TAKES ITS TOLL ON AUSTRIAN ROADS
1 Sometimes a marriage of technology and government policy pays off very
quickly. Just ask the Austrian government. In 2002, its revenues from drivers on
Austrian roads in tolls and taxes were €642m. In 2004, the figure rose by 79 per cent
to €1.14bn. The change is down to the introduction of Europpass, a tolling system
for heavy commercial vehicles on Austria's 2,000km of motorways that were
designed and built by Autostrade of Italy. The government has told Autostrade that it
will take up an option to buy the whole system, and the two sides are negotiating on
the worth of the project.
2 Europpass’s advantage is that, compared with other toll systems, it is simple,
works smoothly and is cheap to install. It is ‘free-flow’, meaning that truck drivers do
not have to pull over, queue for toll booths or look for loose change or wallets. The
tolls are paid automatically as vehicles pass under 800 gantries across carriageways
on motorways. The gantries read data from small, microwave-emitting boxes that are
installed in the trucks. The boxes can be installed in seconds and cost just €5.
Autostrade says an equivalent system in Germany, based on satellite technology and
costing €300 per truck, suffered start-up problems and the units take four hours to
install.
3 The gantries detect trucks in the time it takes for a vehicle to pass underneath.
The system is enforced by 30 roving inspectors and a central office that receives
reports on vehicles without date boxes or those that have opted for pre-payment but
have not paid sufficient funds. The toll system cost €300m and was fully financed by
Autostrade. The Italian company carried the risk because, at the time of installation,
the system was untried. For now, it receives a share of tolls paid.
4 But, while other governments might be tempted by the success of the scheme,
Austria is a special case because of its position as a transit country. Only one-quarter
of the signal boxes have been fitted in Austrian trucks, the rest have gone to vehicles
merely passing through the country. It is also mountainous terrain, offering few
options for those who want to use other roads to evade fees. Nonetheless, Autostrade
says it is in talks with authorities in the Czech Republic and Slovakia on similar
schemes. Furthermore, Antonio Marano, Autostrade’s corporate development
executive, says the company has suddenly attracted competition. ‘As it seems to be a
very attractive business, there has been a new set of players.’
5 Back in Italy, where tolls have operated on motorways since the early 1960s,
the technology is less advanced. However, there is a clear trend away from cash
towards easier means of payment such as credit cards or passes. Five years ago, says
Autostrade, more than half of Italian drivers paid tolls in cash. Now 65 per cent pay
with credit cards or Telepass, a system that makes vehicles stop temporarily while
24
data is transferred and a gate opens.
6 The company, which is controlled by the Renetton family, sees technology as
crucial to increased efficiency and lower costs. Some 1 per cent of revenues - about
€30m - goes on research and development. Of its almost €3bn revenues in 2004, 85
per cent came from tolls. Part of the remainder comes from royalties from motorway
service areas, many of which are run by Autogrill, a company that is also controlled
by the Benettons.
7 Autostrade directly controls 60 per cent of the Italian tolled network and acts
as a clearing house for the non-cash revenue received on another 20 per cent of the
toll roads. Autostrade has installed about 1,000 cameras on motorways, and the
accompanying sensors can relay information on traffic and weather to units such as
media outlets or screens in service stations. The next stop is to send information to
mobile telephones. Autostrade is discussing a venture with 3, the telecommunications
company, that will see free and paid-for services available on mobiles.
8 Piero Bergamini, an employee in the company's technology division, says
drivers’ phones can be located by readings taken from the mobile phone network. But
there are still problems to overcome. Mr. Bergamini says tracking the exact location
of vehicles, and speed and direction of travel are not yet precise enough. ‘If you want
personal information, you want information that is tailored for you, not for someone
who is near you.’
III. Read the article and chose the correct options in this summary, translate it
into Ukrainian/ Russian.
Autostrade has developed a new toll system called Europpass for a) Austrian /Italian
motorways, making motorway driving easier for commercial drivers. The tolls are
paid automatically as vehicles pass under toll b) booths /gantries on the motorway.
Drivers therefore do not need to stop when crossing tolls or waste time looking for c)
cash /driving licences or credit cards. The system, which is cheap d) but difficult/and
easy to install, is monitored by e) inspectors /roving attendants and a central office
that can pick up information regarding pre-payment and non-pay merit of tolls. The
project cost f) the Austrian government/Autostrade €300m; they also carried the risk
of the partnership because g) the system was untried /of its position as a transit
country. There are plans for a similar project both abroad and in Italy, where 65% of
drivers pay by Telepass or h) credit card /cash and where Autostrade controls i) 20%
/60% of the Italian tolled network. The company is currently looking into using
telecommunication technology to locate drivers so that driving becomes even more
convenient for j) mobile-phone users /truck drivers.
IV. Choose the best definition for these phrasal verbs in italics as they are used
in paragraphs 1 and 2, translate them.
a) ... government policy pays off very quickly (paragraph 1)
 pay all the money you owe a company or person
 pay someone in order to stop them From making trouble
 when a particular plan or project gets a good result or is successful
b) ... it will take up an option (paragraph 1)
25
 decide to go ahead with an idea or suggestion
 start a new job or position
 use a particular amount of time or space
c) ... truck drivers do not have to pull over (paragraph 2)
 overtake other vehicles
 wear warm winter clothing
 drive to the side of the road and stop
d) ....pass under 800 gantries (paragraph 2)
 go through without stopping
 go below or underneath something
 drive past a land mark
V. Match these words to form collocations that occur in paragraphs 1 and 2.
government
technology
loose
problems
truck
booths
start-up
vehicles
satellite
drivers
toll
change
commercial
policy
VI. Complete these sentences with a suitable expression from the previous
exercise, translate the sentences into Ukrainian/ Russian. Two are not used.
1. ......... ….can save a lot of time if they don't have to pull up or queue at……on
motorways.
2.
It's really annoying when you stop at a motorway toll and discover you don't
have enough……to pay.
3. Europpass, the Italian toll system, was introduced for the purposes of easing the
journeys of ……. on Austria's extensive motorway network.
4. Although similar gantries in Germany use……., they are more expensive than
their Austrian counterparts and take longer to install.
VII. What or who do these figures refer to in paragraphs 5, 6 and 7?
a) 1960s b) 5 c) 65 d) 30m e) 85 f) 60 g) 20 h) 1,000 l) 3
VIII. Read paragraphs 7 and 8 and say whether these statements are true or
false.
1.
Information about traffic and weather conditions can be communicated to the
media and petrol stations via sensors on Autostradе's cameras.
2.
A joint venture between Autostrade and a telecommunications company will
mean toll systems will be free for mobile users.
3.
As a result of Autostrade new technology, vehicles can be located using their
drivers’ mobiles.
26
4.
However, this new technology for locating drivers needs to be developed
further.
5.
Mr. Bergamini says this high-tech tracking information needs to be tailored to
meet Autostrade's specific requirements.
IX. Roleplay the dialogue discussing the following questions.
 What are the arguments in favour of paying tolls on roads?
 What measures would you take to improve your national roads, motor way
sand service stations? What can be done to reduce traffic jams during peak
periods on busy roads?
 What percentage of roads and motorways in your country are controlled by the
government and by public companies?
 Do you know of any existing or future projects for improving your country's
roads or motorways by way of private-public partnerships?
XI. Give consecutive / simultaneous translation of the dialogue.
XII. Present your translation-oriented analysis of the article AN ITALIAN JOB
TAKES ITS TOLL ON AUSTRIAN ROADS using the prompts given in UNIT
1.
XIII. Give the sight translation (English-Ukrainian, Ukrainian-English) of the
articles.
Public-private partnership
Public-private partnership encompasses partnership between state and private
sectors in implementing the projects aimed at public benefit in such industries as
engineering, real estate, electric power generation and supply etc. The complexity of
these projects and also, immature legal and regulatory framework require longstanding, recognised legal expertise in this sector.
The private sector is becoming more and more involved in the projects related to
infrastructure and public utilities. At Lavrynovych & Partners, we render
comprehensive legal assistance for the public-private partnership projects.
Our services include:
• advising on the development and implementation of the projects in infrastructure
and public utilities (roads, bridges, flyovers and bypass roads, power grids, pipelines,
treatment facilities, etc.);
• tax and customs advisory services;
• drafting and negotiating project agreements;
• advising on project finance, including attracting credit resources in the foreign
exchange markets;
• counselling on renovation and modernisation of the housing and utilities
infrastructure in Ukraine.
Державний та приватний сектор
27
Державний сектор економіки презентує державу як самостійного
господарюючого суб'єкта, частка якого значно відрізняється в окремих країнах:
традиційно мінімальна для США й значна для країн Західної Європи (питома
вага держсектору у ВВП Австрії — 28 %, Франції — 20 %, Швеції — 14 %,
Італії — 12 %).
Важливими історичними чинниками формування і розвитку державного
сектору в економіці були: війни й національна оборона, інфраструктурне
забезпечення макроекономічних процесів, проблеми довкілля й егалітаризм
(рівність).
Державний сектор у традиційному розумінні — це сукупність державних
підприємств. Великою проблемою є ефективне функціонування цього сектору,
оскільки в ньому виникають тенденції до зниження ефективності, якості тощо,
пов'язані, з одного боку, зі значно меншим тиском на ці підприємства ринкових
сил, а з іншого — з підтримкою держави.
Приватні підприємства керуються виключно мотивами отримання
максимального прибутку, державні домагаються значно ширших цілей —
стійкого економічного зростання, заснування нових і модернізації відсталих
галузей промисловості, впливу держави у найважливіших секторах економіки,
скорочення імпорту і забезпечення національної самодостатності в товарах
стратегічного значення, підтримання зайнятості, вирішення економічних
проблем регіонів тощо. Мотив прибутку для державних підприємств не завжди
є основним. Уряд може перерозподіляти частину національного доходу,
створеного у державному секторі, — постачати приватним підприємствам
дешевшу сировину, електроенергію, транспортні послуги, результати
фундаментальних наукових досліджень, що здійснювались за державний
рахунок тощо.
До недоліків функціонування державних підприємств належать:
невизначеність господаря, поєднання економічних і соціальних цілей,
неефективний менеджмент, значні розміри та бюрократична структура
управління. Обмежені можливості отримання прибутку, залежність від
бюджетних коштів, а нерідко й монопольне становище призводять до зниження
ефективності державних підприємств, стимулюють їх перехід у приватне
(акціонерне) володіння. Тому завдання пошуку оптимальних меж одержавлення
власності, а також проблема роздержавлення є не національною, а
загальносвітовою проблемою. Впродовж останніх тридцяти-сорока років виник
новий сектор — "третій" — у результаті формування змішаних державноприватних підприємств і корпорацій, де держава не є одноосібним власником,
але здійснює контроль, володіючи блокуючим або контрольним пакетом акцій.
UNIT 2
PARTNERSHIPS
TRANSLATION AND INTERPRETATION
PART II PARTNERSHIPS WITH NGOS
28
I. Before you read, answer the question:
 What role do you think campaigning groups have in business, if any?
II. Reading
Read this article and fulfill the tasks below.
PARTNERSHIPS: CAMPAIGNERS USE PEACE AS A WEAPON
1 When Peter Melchett, head of Greenpeace, accepted a position as an adviser at
Burson-Marsteller, the corporate, communications company, his move angered many
environmental campaigners. Lord Melchett, however, insisted that he could achieve
more working with companies than in opposition to them. Today, a growing number
of campaign and advocacy organisations are taking a similar stance.
2 The Rainforest „Alliance, the conservation group, works with companies such
as Chiquita, the US banana giant that has been heavily criticised for its poor record
on the environment and labour rights, to alter their business practices. Greenpeace,
too, has embarked on alliances, joining companies such as NPower, the UK
electricity supplier, and Unilever, the consumer goods group.
3 Divisions remain between those in non-governmental organizations and
campaign groups who believe in opposing the corporate sector, and those who see
engagement as the way forward. However, some organisations manage to do both at
the same time, Greenpeace, for example, supported Unilever’s introduction of
environmentally friendly Greenfreeze technology for fridges but has attacked the
company on other issues, such as mercury pollution from a Hindustan Lever factory
in Tamil Nadu, India. Stephen Tindale, executive director of Greenpeace, says that, at
a personal level, this can create tensions. ‘But at the strategic level, companies
understand that when they go into a joint venture with us, this is an occupational
hazard.’
4 For companies that are keen to win public trust, such tensions are a small
negative factor in a relationship that they see as giving them a way to build credibility
and demonstrate transparency. At the same time, campaign groups are able to harness
the scale and efficiency of the corporate sector to further their aims. ‘We need
companies, because companies are in a position to deliver the solutions. And when
they engage, they can move faster and be more dynamic and creative than
government can,’ says Mr.Tindale. ‘With the right company, it enables you to get
things done that you could never possibly do on your own.’
5 Auret van Heerden, executive director of the Fair Labor Association, believes
the rapprochement between the corporations and campaigners will continue. ‘Initially
the campaign groups were only exposing and shaming,’ he says. ‘But slowly the
campaign groups have realised that exposes only take you so far, and you need to be
willing to engage if you want to promote long-term change.’
6 The FLA, a US-based monitoring organisation, works more closely with
companies than many organisations whose mission is to improve corporate behaviour
29
in areas such as human rights or environmental protection. The FLA has, for
example, both companies and non-governmental organisations on its board.
7 However, to maintain its independence and credibility, the organisation lays
down strict rules of engagement. All businesses cooperating with the FLA must agree
to give it unimpeded and unannounced access to their factories, and none of the
companies has any control over what the FLA publishes in its reports about the
labour conditions in their supply chains. It's warts and all,’ says Mr. van Heerden.
‘And we’ve specified the ground rules precisely because we feel we can only do our
job properly if we have independence.’
8 Maintaining this independence is crucial for organisations that do not want to
be seen to provide ‘greenwashing’ - a veneer of credibility - for their partners. For
this reason, Greenpeace does not take any money from companies. And, says Mr.
Tindale, all joint projects must be based around something concrete and clearly
defensible, such as the partnership with NPower that has led to construction of an
offshore wind farm. ‘If anyone says this is greenwash, we just point to the 30 turbines
in the sea and say “that's what it’s delivered”, he says.
9 ‘This delivery of results is something organisations need to keep in mind when
contemplating joint projects to tackle social and environmental problems,’ says Ros
Tennyson, co-director of the Partnering Initiative at the International Business
Leaders Forum. ‘The key question is whether the collaboration is allowing the
campaigning NGO to achieve its primary mission more effectively or not,’ she says.
10 As campaign groups recognise that confrontation is only part of the process
of change, alliances with companies are likely to increase. ‘We seek things where we
can co-operate because people don’t just want to hear about what's going wrong.
They want to know what the solutions are,’ says Mr. Tindale. That's a very important
part of where environmentalism is at now. People know there are big problems. We
need to be able to convey the message that there are reasons for optimism.
III. Read the article quickly. Who are these people / What are these
organisations?
Lord Melchett
BurstonMarsteller
The Rainforest Chiquita
Alliance
NPower
Unilever
Stephen
Tindale
Auret van
Heerden
Ros Tennyson
Fair Labor
Association
IV. Read paragraphs 1 and 2 and correct these sentences.
a) Peter Melchett angered many environmentalists when he became head of
Burston-Marsteller.
b) Peter Melchett argued that he could achieve more working with environmental
campaigners than in opposition to them.
c)
Few non-governmental organisations are currently doing the same as
Greenpeace and the Rainforest Alliance.
30
d) The Rainforest Alliance has come under severe criticism for its poor record on
environmental and labour issues.
e) Greenpeace has embarked on joint ventures to improve working practices in
companies such as Chiquita, NPower and Unilever.
V. Choose the best definition for these words in italics from paragraphs 4 and 5.
a) ... are able to harness the scale and efficiency..
 control and use the natural force or power of something
 fasten two animals together
 hold in place or stop from falling using leather bands
b) ... to further their aims
 become successful
 achieve or obtain
 promote or help something progress to be successful
c) And when they engage, they can move faster...
 attract someone's attention and keep them interested
 get involved with other people and their ideas in order to understand them
 arrange to employ someone or pay someone to do something
d) ... the rapproachment between the corporations and campaigners...
 establishment of a good relationship between two groups after unfriendly
relations
 conflictive or unpleasant situation between two opposing parties
 mutual understanding and co-operation between two groups or countries
e) …campaign groups were only exposing and shaming
 be so much better than someone else IQ
 making someone feel ashamed or embarrassed
 pretending to be upset or ill to gain sympathy or an advantage
f) … exposes only take you so far...
 achieve limited or temporary results
 achieve negative results
 attract a lot of attention from the public
VI. Read paragraphs 6 and 7 and say whether the statements are true or false,
translate them into Ukrainian/ Russian.
a) The FLA works with other non-governmental organisations on global issues
such as human rights and environmental concerns.
b) The FLA applies strict rules so that it is not influenced by anyone dominant
company or organisation.
c) Member companies of the FLA have to undergo lengthy inspections of their
factories which are arranged well in advance.
d) Member companies of the FLA have some influence on the reports into their
working practices and suppliers.
e) The organisation publishes the real facts about companies, however unpleasant
or embarrassing they may be.
31
f)
Mr. van Heerden states the FLA can only be effective if it remains independent.
VII. Read paragraphs 8, 9 and 10, then match the beginnings of the sentence
summaries (1-6) with the endings (a-f), translate them into Ukrainian/ Russian.
1.
‘Greenwashing’ is giving the appearance...
2.
Greenpeace does not accept company money...
3.
Greenpeace’s joint projects have to be specific and tangible...
4.
According to Ros Tennyson any joint ventures with businesses should...
5.
Stephen Tindale says campaign groups need to collaborate with companies...
6.
Mr. Tindale states that the public is well aware of environmental problems…
a) such as the construction of a wind farm in the sea.
b) that a company has a good record on environmental issues.
c) in order to maintain its credibility.
d) and wants to see some positive solutions.
e) and not just criticise them.
f) help toward achieving the long-term aіms of the NGО.
VIII. Roleplay the dialogue discussing the following questions.

Do you think campaigning groups interfere too much with the business of
multinationals? Why (not)?

The FLA monitors companies on issues such as human rights and the
environment. What other areas of corporate business do you think need to be
monitored closely? Why? How can non-governmental groups help solve some of
these problems?
IX. Practise consecutive / simultaneous translation of the dialogue.
X. Present your translation-oriented analysis of the article PARTNERSHIPS:
CAMPAIGNERS USE PEACE AS A WEAPON using the prompts given in
UNIT 1.
XI. Give the sight translation (English-Ukrainian, Ukrainian-English) of the
articles.
Partnership
A partnership is an arrangement where parties agree to cooperate to advance their
mutual interests.
Since humans are social beings, partnerships between individuals, businesses,
interest-based organizations, schools, governments, and varied combinations thereof,
have always been and remain commonplace. In the most frequently associated
instance of the term, a partnership is formed between one or more businesses in
which partners (owners) co-labor to achieve and share profits and losses (see business
partners). Partnerships are also common regardless of and among sectors. Non-profit,
religious, and political organizations, may partner together to increase the likelihood
of each achieving their mission and to amplify their reach. In what is usually called
an alliance, governments may partner to achieve their national interests, sometimes
32
against allied governments who hold contrary interests, such as occurred during
World War II and the Cold War. In education, accrediting agencies increasingly
evaluate schools by the level and quality of their partnerships with other schools and
a variety of other entities across societal sectors. Partnerships also occur at personal
levels, such as when two or more individuals agree to domicile together, while other
partnerships are not only personal but private, known only to the involved parties.
Governmentally recognized partnerships may enjoy special benefits in tax policies.
Among developed countries, for example, business partnerships are often favored
over corporations in taxation policy, since dividend taxes only occur on profits before
they are distributed to the partners. However, depending on the partnership structure
and the jurisdiction in which it operates, owners of a partnership may be exposed to
greater personal liability than they would as shareholders of a corporation. In such
countries, partnerships are often regulated via anti-trust laws, so as to inhibit
monopolistic practices and foster free market competition. Enforcement of the laws,
however, is often widely variable. Domestic partnerships recognized by governments
typically enjoy tax benefits, as well.
Запорізьке представництво Громадянської мережі "ОПОРА"
Громадянська мережа ОПОРА – це неурядова, позапартійна і фінансово
незалежна Всеукраїнська мережа громадських активістів. Організація працює
задля розвитку громадянського суспільства в Україні як фундаменту
суверенної, незалежної, демократичної, соціальної, правової держави. ОПОРА
– організація мережевого типу, яка покриває всі регіони України за рахунок
власних представництв та партнерських організацій із визначним досвідом
роботи в третьому секторі.
Пріоритетні напрямки діяльності:
Освітня політика – розробка та апробація механізмів комплексного
громадського спостереження за зовнішнім незалежним оцінюванням (ЗНО) та
вступною кампанією до вищих навчальних закладів, протягом усіх етапів
процесу.
Житлово-комунальна політика – розробка та впровадження в Україні дієвої
інституціолізованої моделі організацій співвласників багатоквартирних
будинків (ОСББ).
Виборчий процес – забезпечення комплексного довготермінового моніторингу
та аналізу виборчого процесу і програмної діяльності політичних партій в
Україні, спостереження під час виборів.
Громадянська мережа ОПОРА з 2007 року отримала досвід реалізації 3-х
загальнонаціональних та 8 місцевих кампаній громадського спостереження за
виборчим процесом. Найбільш впливовими та інноваційними варто відзначити
моніторингові місії, організовані під час виборів Президента України 2010 року
та останніх виборів до органів місцевого самоврядування всіх рівнів 2010 року.
Результати громадського спостереження активно використовувалися для
підготовки висновків та офіційних оцінок щодо перебігу і результатів виборів
українською та міжнародною громадськістю, міжнародними місіями,
представництвами іноземних держав, медіа тощо.
33
UNIT 2
PARTNESHIP
TRANSLATION
I. Watch the video and answer the questions.
 What countries are the members of the partnership?
 When was the partnership launced?
 What priorities does the video outline?
 Is there a possibility of further economic integration between the European
Union and its Eastern Partners?
II. Give the summary of the information in Ukrainian/ Russian/ English.
III. Watch the video.
 What are the partners and what kind of business do they have?
 What does Greg talk about? What is his decision?
IV. Give the summary of the information in Ukrainian/ Russian/ English.
UNIT 3
EMPLOYMENT
PRESENTATION
PART ONE
I. Read the BRIEF, answer the following questions and translate the collocations
in bold using the context and the information given below.
1.
What has the transition from the industrial to the information age led to?
2.
What influences most on the sphere of employment? What are the results?
3.
What is the meaning of the terms outsource and offshore? Why do the
companies outsource and offshore?
4.
What do the European countries, like France and Germany, suffer from?
5.
What are the major problems and prospects of eastern European countries?
BRIEF
The way we work is undergoing constant change as the world moves from the
industrial age to the information age. In many industrialised countries, this
transition has generally led to a loosening of relationships between employers and
employees and far greater flexibility in terms of employment contracts and working
hours, with more people working on fixed-term contracts and greater levels or selfemployment.
34
Information and communication technologies, such as the Internet and broad band
connections, are having a major impact an the way we work and will continue to do
so in the future. Many jobs and careers will become “extinct” and new ones will
replace them. Other jobs will be transformed by technology out of all recognition in
today's world. Experts predict that most of today's children will be doing fobs in the
future that do not even exist yet.
The trend of moving manufacturing operations to countries with low labour costs
has existed for many decades. This drive towards increased productivity and lower
production costs, combined with technological advances, has more recently allowed
companies to outsource and offshore other parts of their operations to these
countries and regions. Companies are now able to distribute their work around the
globe and operate 24 hours a day, seven days a week.
According to the FT's Future of:Work Report, Asia is the top destination, with 37
percent of outsourcing projects. But Western Europe also benefited, with 29 percent the favoured locations being the UK, Ireland, Spain and Portugal - and eastern
Europe with 22 per cent. India has become one of the major suppliers of call centres
for the Britain and the United Stales because of the huge number of English-speaking
graduates. However, it is not only the low-skilled jobs that are being transferred to
Asia. Increasingly, multinationals are recruiting highly skilled engineering and
programming staff in Asian countries and transferring their research and
development operations to these countries as well.
Free marketeers argue that European countries, like France and Germany, suffer
from excessive labour market regulation, such as minimum wage legislation and
EU directives controlling working hours. In many eastern European countries, largescale unemployment and the informal economy are still major problems, and ones
that the expanded EU will have to find ways to deal with. Many predict there will be
greater mobility of the workforce as people move from east to west to find work.
Western Europe, Japan and the United Sates are all ageing societies. As the active
workforce continues to fall in proportion to the total population, many have
expressed concerns about the impact that this will have on these societies.
India and China are now playing an increasing role in the world economy.
According to Kim Clark, dean of Harvard Business School, “We simply have not
comprehended yet the full impact of 2.5 billion people coming into the world
economy who were not part of it before”. There is no doubt of the benefits and
opportunities for those developing economies that have invested in technology in
terms of increased employment opportunities and economic development.
Secondly, higher income in these developing economies not only benefit the
domestic economy, but also the global economy, as these are huge potential markets
for goods and services.
Extra info
Fixed-term contract is one which either:

lasts for a specified time, set in advance

ends with the completion of a specified task

ends when a specified event does or does not take place
35
Pros and cons
Fixed-term contracts give you the advantage of bringing in specific skills and
labour as and when they are needed.
It's important to remember that unless there are special circumstances that can be
justified, you must treat fixed-term employees the same as comparable permanent
employees. This means you must give them:

the same pay and conditions

the same or equivalent benefits package

the same or equivalent pension scheme

the same opportunity to apply for vacancies for permanent posts in the business
Fixed-term employees also have access to the same employment rights as their
permanent equivalents.
A call centre or call center is a centralised office used for the purpose of receiving
and transmitting a large volume of requests by telephone. A call centre is operated by
a company to administer incoming product support or information inquiries from
consumers. Outgoing calls for telemarketing, clientele, product services, and debt
collection are also made. In addition to a call centre, collective handling of letters,
faxes, live chat, and e-mails at one location is known as a contact centre.
A call centre is often operated through an extensive open workspace for call centre
agents, with work stations that include a computer for each agent, a telephone
set/headset connected to a telecom switch, and one or more supervisor stations. It can
be independently operated or networked with additional centres, often linked to a
corporate computer network, including mainframes and microcomputers.
Increasingly, the voice and data pathways into the centre are linked through a set of
new technologies called computer telephony integration (CTI).
A contact centre, also known as customer interaction centre is a central point of any
organization from which all customer contacts are managed. Through contact centres,
valuable information about company are routed to appropriate people, contacts to be
tracked and data to be gathered. It is generally a part of company’s customer
relationship management (CRM). Today, customers contact companies by calling,
emailing, chatting online, visiting websites, faxing, and even instant messaging.
Informal economy. System of trade or economic exchange used outside state
controlled or money based transactions. Practiced by most of the world's population,
it includes barter of goods and services, mutual self-help, odd jobs, street trading, and
other such direct sale activities. Income generated by the informal economy is usually
not recorded for taxation purposes, and is often unavailable for inclusion in gross
domestic product (GDP) computations.
The informal economy comprises half to three-quarters of all non-agricultural
employment in developing countries. Although it is hard to generalize concerning the
quality of informal employment, it most often means poor employment conditions
and is associated with increasing poverty. Some of the characteristic features of
informal employment are lack of protection in the event of non-payment of wages,
compulsory overtime or extra shifts, lay-offs without notice or compensation, unsafe
working conditions and the absence of social benefits such as pensions, sick pay and
health insurance. Women, migrants and other vulnerable groups of workers who are
36
excluded from other opportunities have little choice but to take informal low-quality
jobs.
II. Match the following English and Ukrainian collocations.
1.
2.
industrial age
information age
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
flexibility
working hours
fixed-term contract
self-employment
career
low labour costs
decade
increase productivity
production costs
outsource
offshore
call centre
low-skilled
highly skilled
17.
research and development
18.
19.
20.
21.
labour market
minimum wage legislation
informal economy
ageing society
22.
23.
24.
active workforce
employment opportunities
income
a)
високо - кваліфікований
b)
встановлення рівня мінімальної
погодинної заробітної плати
c)
гнучкість
d)
десятиліття
e)
дослідження та розвиток
f)
доход, прибуток
g)
здійснювати за межами країни
h)
індустріальна ера
i)
інформаційна ера
j)
кар’єра
k)
можливості працевлаштування
l)
незалежне працевлаштування
m) некваліфікований
n)
неофіційна, тіньова економіка
o)
низька вартість праці
p)
передавати
незалежним
виконавцям, замовляти в іншій
компанії
q)
підвищувати
продуктивність
праці
r)
реальна робоча сила
s)
ринок робочої сили
t)
робочі години
u)
собівартість,
вартість
виробництва
v)
сталі умови контракту
w) старіюче суспільство
x)
центр підтримки
UNIT 3
EMPLOYMENT
TRANSLATION AND INTERPRETATION
PART I
OFFSHORING
I. Before you read, answer the questions:
37
 Outsourcing is a process, offshoring is a location. What do you understand by
this quote?
 What are the advantages and disadvantages for companies when outsourcing
work to low-cost labour markets?
II. Reading
Read this article and fulfill the tasks below.
OFFSHORING: A LOSS OF JOBS OR A GAIN IN PROFITS?
1 The bitter US-inspired debate about offshoring, the transfer of jobs to low-cost
labour markets, is spreading to the non-English-speaking world. The issue is rising up
the political register in countries such as France, Germany and Spain. While it often
arouses emotion out or proportion to the jobs involved, the underlying questions go to
the heart of Europe’s competitiveness. To the French, the phenomenon is
‘delocalisation’. In Germany, it merges into a longer-running debate about deindustrialisation or the ‘bazaar economy’ - in which goods made elsewhere are sold
on through the world.
2 West Europeans are as worried about losing jobs to Eastern Europe as to India
or China. Increasingly, these are white-collar and skilled technology posts as well as
the manufacturing jobs that have been moving for more than a decade. The European
Union’s enlargement gave the argument fresh impetus. Cheap and often highly
skilled workers can be found in countries such as Slovakia, Russia, Croatia or
Bulgaria.
3 Germany’s Chancellor denounced offshoring as ‘unpatriotic’ after Ludwig
Georg Braun, head of the chambers of commerce, urged businesses to take advantage
of possibilities afforded by EU expansion. Siemens, Volkswagen, Continental and
SAP are among companies that have shifted activities abroad, and now financial
institution ssuch at Commerzbank and Deutsche Bank are looking at relocating backoffice work. Medium-sized Mittlestand companies are joining the exodus.
4 At first, Berlin responded by saying Cermany must improve its own skill
levels. Recently, however, it has shown more protectionist impulses by joining
France in calling for new member states to be denied EU regional aid unless they
raise company tax levels. Nicolas Sarkozy, France’s former finance minister was
proposing tax incentives to persuade companies to stay at home and encourage others
to return. In Spain, trade unions say nearly 40 foreign multinationals have left in the
past three years, creating a challenge for the government.
5 What impact is offshoring having? The evidence is patchy, which has helped
fears to grow. A recent survey, by the United Nations Conference on Trade and
Development and Munich - based Roland Berger Strategy Consultants, found nearly
half of European companies planned, to shift more services offshore. UK companies
accounted for 61 per cent of the total of jobs moved, followed by Germany and the
Benelux countries with 14 percent each. It was not a one-way street, though. Asia
38
was top destination, with 37 per cent of projects, but western Europe itself benefited
with 29 per cent the favoured locations being the UK, Ireland, Spain and Portugal and
Eastern Europe with 22 per cent.
6 Forrester Research forecasts 1.2 m European information technology and
service jobs will move offshore over the next ten years, nearly three-quarters from the
UK. It sees continental countries as slower to outsource, whether because of
management caution, tight labour laws or union resistance, and argues that Germany,
Italy, France and the Netherlands will lose by being less competitive as a result.
7 However, Forrester’s definition of offshoring - use of service providers based
at least 500 miles away – ignores Eastern Europe. On that issue, a study of German
and Austrian companies by Dalia Marin, professor at the University of Muntch,
found surprisingly limited negative impact. While German multinationals created
460,000 jobs and Austrian ones 201,000 in Eastern Europe between 1990 and 2001,
the result was a direct loss of only 90,000 jobs in Germany and 22,000 in Austria partly because of productivity differences.
8 What drove many companies east was the search for skilled employees
because of a shortage at home, where there was a ‘human capital crisis’. Ms Marin’s
remedies include better education and looser immigration rules to import skilled
workers. In France, a finance ministry study found the negative- impact of
‘delocalisation’ greatly exaggerated. Only 4 per cent of French foreign investment
was production moved offshore in order to re-import goods into France.
9 That still leaves governments wrestling with the problem of how to act. Tax
breaks to encourage Companies to stay seem likely to have only a limited effect.
More fruitful would be a determined effort to reform labour, product and capital
markets as promised under the EU’s Lisbon agenda. A report by McKinsey Global
Institute found that every dollar of corporate spending shifted offshore generates up
to $1.14 in US wealth. But when a German company invests a euro in a cheaper
place, its home economy is on average 20 cents worse off. The main difference is
that, displaced workers in the US quickly find replacement jobs. In Germany, because
of labour laws and slow growth, they do not.
10 Companies can benefit from outsourcing if it makes them more competitive.
Increased profits can then translate into higher investment and more employment at
home but government must first create conditions for job creation to thrive.
III. Read the whole article and number these items in the order they appear.
a)
The advantages of outsourcing.
b)
Countries that are resistant to outsourcing may fall behind others that are not.
c)
Pressure on newer EU member states to raise taxes in order to reduce
offshoring.
d)
Results of research into job losses as a consequence of offshoring.
e)
Countries which are becoming a source of cheap and highly skilled workers.
f)
Alternative terms for the phenomenon of offshoring.
g)
German companies that have transferred jobs to low-cost labour markets.
h)
Possible solutions for increasing the number of skilled workers in Western
Europe.
39
IV. Read paragraphs 1-4 again. Are these points true of Germany, France or
both?
a)
The issue of offshoring is becoming increasingly controversial.
b)
Some call offshoring a form of ‘de-industrialisation’ or a bazaar economy.
c)
Others refer to outsourcing or relocating abroad as ‘delocalisation’.
d)
Some countries are worried about losing jobs to Eastern Europe, as well as
Asian economies,
e)
There is disagreement between business institutions and politicians concerning
outsourcing work abroad.
f)
One minister was giving financial incentives to encourage companies to stay at
home.
V. Read paragraph 5 and say whether these statements are true or false,
translate them into Ukrainian/ Russian.
a)
There isn't much evidence to demonstrate the real effects of offshoring.
b) According to one survey 61% of European companies aim to move services
abroad.
c) Germany and the Netherlands are the countries that use offshoring most.
d) The UK, Ireland, Spain and Portugal are the top destinations in Europe for
offshoring.
e) Eastern Europe is currently the most popular location for outsourcing work
abroad.
VI. What do these figures in paragraphs 6 and 7 refer to?
a) 1.2 b) 3/4 c) 500 d) 460,000 e) 201,000 f) 90,000
VII. Read paragraphs 8 and 9. Match the words and phrases in italics in
sentences a-h to their correct definitions 1-8, translate them.
1.
productive or with better results
2.
less strictly controlled
3.
try to understand or solve
4.
people and their skills considered
as a production factor
5.
made to seem better, larger or
worse than it really is
6.
similar
7.
force someone to do or go
somewhere
8.
incentives
given
as
encouragement
a) What drove many companies east
was
b) a ‘human capital’ crisis
c) looser immigration rules
d) found the negative impact of
‘delocalisation’ greatly exaggerated
e) with wage levels comparable to
France’s
f)
That still leaves governments
wrestling with the problem
g) Tax
breaks
to
encourage
companies
h) More fruitful would be
40
VII. Read paragraphs 9 and 10, What do the words in italics refer to?
 its home economy is on average 20 cents worse off.
 they do not.
 if it makes them more competitive.
X. Roleplay the dialogue discussing the following questions.

Do you think that companies should be given financial incentives or
encouraged by governments to stay at home?

Do you agree that certain countries should increase company tax rates in order
to stop them from being more attractive propositions for companies? Why (not)?

Why are those companies that outsource work more competitive than ones that
do not?

What kind of work is usually outsourced abroad? Is your country one of the
popular destinations of multinationals for offshoring or outsourcing? Why do you
think that is? To what extent does offshoring benefit your country's economy?
XI. Practise consecutive / simultaneous interpretation of the discussion.
XII. Present your translation-oriented analysis of the article OFFSHORING: A
LOSS OF JOBS OR A GAIN IN PROFITS? using the prompts given in UNIT 1.
XIII. Give the sight translation (Ukrainian-English, English-Ukrainian) of the
articles.
Offshoring vs Outsourcing
Definition:
Offshoring means getting work done in a different country.
Outsourcing refers to contracting work out to an external organization
Benefits:
Benefits of offshoring are usually lower costs, better availability of skilled people,
and getting work done faster through a global talent pool.
Usually companies outsource to take advantage of specialized skills, cost efficiencies
and labor flexibility.
Risks and criticism:
Offshoring is often criticized for transferring jobs to other countries. Other risks
include geopolitical risk, language differences and poor communication etc.
Risks of outsourcing include misaligned interests of clients and vendors, increased
reliance on third parties, lack of in-house knowledge of critical (though not
necessarily core) business operations etc.
Офшоринг та аутсорсинг
Після усвідомлення того, що аутсорсинг набуває стратегічного значення,
фінансовий тиск робить неминучим і використання аут-сорсингу за кордоном, в
регіонах з дешевою робочою силою. Сьогодні компанії все успішніше долають
41
труднощі, пов’язані з якістю, гнучкістю та оперативністю, які зазвичай
виникають при роботі у віддалених районах.
Офшоринг— аутсорсинг за кордоном.
Офшоринг, започаткований в кінці XX ст., досить швидко перетворився на
масове «захоплення» великих корпорацій, які всі кинулися на пошуки
«дешевої» робочої сили. При цьому кожна компанія зверталася до цієї практики
через індивідуальні причини і діяла згідно з власною, розробленою на свій
страх і ризик, стратегією аутсорсингу за кордоном.
Офшоринг використовується в різних галузях, але лідером використання
офшорних операцій є сектор фінансових послуг.
За прогнозом, до 2010 р. понад 20% основних і оборотних коштів глобального
ринку фінансових послуг буде переміщено в офшори.
Східна Європа займає лише близько 5% світового офшорингу, але показує
високі темпи росту цього напрямку. У той час як у світі середній ріст
офшорингу протягом найближчих трьох років буде становити 25%, у Східній
Європі очікується майже 35%.
Сьогодні багато клієнтів із США, Європи й інших країн приходять і на
український офшорний ринок, який в основному представлений ІT-проектами.
Україна знайшла свою нішу в глобальному офшорному зовнішньому ринку за
рахунок якості й «інтелектуальності» надаваних послуг. Погодинні ставки
фахівців становлять від $15 до $30. Звичайно, Україна не може конкурувати в
ціновій політиці із сегментом Індії й Південно-Східної Азії, але стає сильною в
середньому ціновому сегменті ІТ-проектів. Ціни цілком відповідають рівню
обслуговування, і компанія виграє при переадресації складних проектів та
інтелектуально складніших завдань для українських розробників.
Компанії, які дають відгук про роботу з українськими розроблювачами,
підкреслюють, що поряд з високим рівнем готової продукції важливу роль у
кожному проекті відіграють стиль спілкування, підходи до управління й
прозорості процесів. Поряд з високою технічною якістю не всі компанії
дотримуються парадигми клієнтоорієнтованого управління, що може принести
додаткові ризики.
Сенс офшорного аутсорсингу полягає в тому, що за кожній програмі, ініціативі
або проекту, які передаються на розробку в іншу країну, передує комплекс
рішень, що включає вибір правильних моделей, які відповідають певним
потребам бізнесу.
UNIT 3
EMPLOYMENT
TRANSLATION AND INTERPRETATION
PART II
OLDER PEOPLE
I. Before you read, answer the question:
42
 According to the one forecast, by the year 2050, the number of people in the
world aged over 60 will rise from 600 m to 2bn. What do you think will be the
implications of this trend in terms of employment?
II. Reading
Read this article and fulfill the tasks below.
OLDER PEOPLE: AGE AND EXPERIENCE
1 Demographics usually proves a powerful force for change in the business
world, and the rapidly ageing world population looks likely to continue the pattern.
By the year 2050, according to the International Labour Organisation, the number of
people aged over 60 will rise from 600m to 2bn. In less than 50 years, for the first
time in history, there will be more people in the world over the age of 60 than under
the age of 15. All this has profound implications for employers and, says the ILO,
should provide an incentive for companies to fight age discrimination and
accommodate older workers, creating challenging careers to persuade them to stay in
their jobs longer.
2 However, changing demographics alone are unlikely to spark drastic changes
in corporate policies and practices towards older workers. John Atkinson, who runs
the Unemployment and labour Market Disadvantage programme at the Institute for
Employment Studies, says legislation is likely to provide a sharper stick with which
to prod companies into action. In the UK, for example, the government is committed
to implementing age legislation under the European Directive on Equal Treatment.
3 The exact form the new rules will take is not yet clear, but it is thought likely
that, it will be similar to existing legislation on race and gender. ‘It wasn't until the
law came in that most employers pulled their socks up and started to take it
seriously,’ says Mr. Atkinson. ‘So the beat employers are thinking about their
policies and practices towards age, but the vast majority are not.
4 And yet, as savvy companies have realised, positive policies and practices on
age diversity make good business sense. Because of the nature of its business, B&Q,
the British DIY retailer, has found that having older workers on its staff has enhanced
sales and customer loyalty. Older employees often have a basic knowledge of DIY,
and customers, who tend to associate older people with this knowledge, feel
comfortable asking their advice.
5 And for sectors such as financial services, the age profile of customers means
it makes business sense to increase the average age of sales teams. Changing
demographics was part of the reason that Halifax Bank of Scotland (HBGS) reevaluated its diversity programmes. An ageing population was driving a need to put a
greater focus on savings and retirement plans and the release of capital tied up in
property and at least half of the bank’s customers are now over the age of 50. In
response, the HBOS group policy was altered to allow people to work beyond the
traditional retirement age of 60 or 62.
43
6 But permitting employees to work beyond traditional retirement age is one
tthing. It is quite another to persuade them to remain in work - particularly when
private pensions and savings and the possibility of buying a house in the south of
France provide a tempting alternative. Indeed, many workers, rather than staying on,
are retiring early -either through desire or because of poor health.
7 At the same time, changing demographics present another challenge for
employers that hope to persuade their staff to remain with the company for longer. In
a world where a higher proportion of employees are older, there will no longer be a
sufficient supply of the sort of senior management positions that were once the goal
of many in the workforce.
8 ‘People tend to look at older employees when they talk about age,’ says
Michael Stuber, founder of Mist Consulting, the Cologne-based diversity
consultancy. ‘What they often ignore is that the main clientele are people who are
today 38 to 45. They are growing older and they have made their careers with an idea
that they should be at a director’s rank by the age of 43, otherwise they won’t make
it. And now it’s obvious that, particularly in times of lean management, they cannot
all be promoted to director level.’
9 With rates of promotion slowing and pay growth declining from about 35
onwards, working longer looks far less attractive than it did a couple of decades ago.
‘What used to be a manual worker’s earnings pattern they earned their most at their
fittest, and their earnings declined as they got worn out - has become the pattern for
everyone,’ says Mr. Atkinson. Given such trends, simply abolishing the formal
retirement age and removing age specifications from recruitment advertisements
remain cosmetic initiatives. They fail to address a deeper underlying problem. That is
the need to create an appealing working life for those growing older in a world where
career structures, rather than being vertical, will look increasingly horizontal.
III. Read the article quickly. Who are these people and organizations? Translate
these proper names.
ILO
HBQS
B&Q
Mist Consulting
Michael Stuber
John Atkinson
IV. Read paragraphs 1 and 2 again and correct these sentences, translate them
into Ukrainian/ Russian.
a)
The Institute for Employment Studies says that, by the year 2050, the number
of people over 60 will increase from 600m to 2bn.
b)
In 50 years’ time, it is predicted there will be more over-60s than teenagers in
the world.
c)
Employers should deal with race discrimination at work and provide incentives
for senior workers to agree to early retirement.
d)
John Atkinson from the ILO says changes in demographics will force
companies to take action.
e)
The British government is hesitant about implementing age legislation under
the European Directive on Equal Treatment.
44
V. Choose the best alternatives to replace the words in italics, according to the
context of paragraphs 3 and 4, give the Ukrainian/ Russian equivalents of the
words.
a) It wasn't until the law came in… (paragraph 3)
 was involved in a plan or deal
 came into effect
 became fashionable or popular
b) ... most employers pulled their socks up (paragraph 3)
 made more of an effort
 criticised someone or something
 showed disapproval
c) savvy companies (paragraph 4)
 smart and wise
 ignorant or lacking in ability
 high-tech and up-to-date
d) ... enhanced sales and customer loyalty (paragraph 4)
 the length of time customers stay with a company
 the act of consumers refusing to change their purchasing habits
 the degree to which people buy a brand or use a company's services
VI. Read paragraphs 4 and 5 again and complete the sentences (a-h) using the
expressions in the box (1-8), translate the sentences.
a) .........................................For many supermarket chains, it_________to employ
older people as checkout attendants.
b) .........................................B&Q prefers more experienced workers______,as they
can explain their products more effectively.
c) If you ______of something, you understand the main principles behind it, but
you are certainly not an expert.
d) I didn't_______applying for that job, as I didn't think I had the necessary skills.
e) ......... _______should ensure that a variety of people of different race, age and
background are recruited by a company.
f) ......... What is really ______ to employ older people for longer is the change of
demographics in the world.
g) ......... He had always put money towards _______ in case he was suddenly made
redundant.
h) ........................................ The business had gone bankrupt, but managed to payoff
its workers, as it had money ____ in property.
1. because of the nature of its business
2. diversity programmes
3. driving a need
4. feel comfortable about
5. have a basic knowledge
6. makes good business sense
7. savings and retirement plans
45
8. tied up
VII. Match the words and expressions (1-6) from paragraphs 7-9 with the correct
definitions (a-f), translate them.
1. demographics a)
all the people who work in a country, industry or
factory
2. workforce
b)
money a person receives for work for a particular
period
3. lean
c)
using the most effective methods and the fewest
possible employees
4. earnings
d)
process of finding new people to work for an
organisation
5. abolish
e)
officially end a law, system or organisation
6. recruitment
f)
details concerning age, sex and income of a
particular group of people
VIII. Read paragraph 9 again and choose the best summary, translate it into
Ukrainian.
A) Working longer is now more appealing than it was in the past, and all workers
now earn most when they are in their forties. A change in legislation is not the
answer. There is a need to create a more attractive working life for older employees
whose careers are more likely to develop horizontally, rather than going up the career
ladder.
B) Working longer is now less appealing than it was in the past, and all workers now
earn most when they are in their physical prime. Changing the retirement age and not
mentioning age requirements in job advertisements arc only minor changes. We need
to find ways of working for longer and accept that careers may develop horizontally.
IX. Roleplay the dialogue discussing the following questions.
 Do you agree with the formal retirement age in your country? Why (not)?
 At what age would you expect to retire?
 Do you think older employees should earn more or less or the same as younger
workers? Why (not)?
X. Practise consecutive / simultaneous interpretation of the discussion.
XI. Present your translation-oriented analysis of the article OLDER PEOPLE:
AGE AND EXPERIENCE using the prompts given in UNIT 1.
XII. Give the sight translation (Ukrainian-English, English-Ukrainian) of the
articles.
46
Opportunities and Challenges of an Aging Society
Imagine a society with many more walkers than strollers. Tomorrow's America
will be a unique Aging Society, forged by two critical forces. First, we will
experience the effects of the remarkable increases in disability-free life expectancy of
the twentieth century. Second, over the next decade, enormous ''baby boom''
generation, 76 million strong, will reach retirement age. Taken together, these forces
will create an America populated, in large part, by previously unimagined numbers of
older people.
What will life in an Aging America be like for the elderly, and, perhaps more
importantly, for the middle-aged and younger generations? As America ages, it is
also becoming increasingly diverse. We are likely entering a period of rapid change
in many of our society's key institutions, including retirement, education, housing and
labor markets, churches, local communities, political parties, government, and the
family itself. While some analysis and much political discussion has circulated
around the sustainability of the Social Security and Medicare Trust Funds, there has
been much less work on the many critical issues surrounding the social, economic,
and institutional implications of an Aging Society. For example, how will the aging
of society impact those in various socioeconomic groups disparately? We must
understand where we will likely go, and develop the policies and strategies at the
local and national levels that will optimize life opportunities for all age and
socioeconomic groups in an Aging America.
Starting in mid 2006, the MacArthur Foundation sponsored a set of exploratory
consultations with recognized scholars from relevant disciplines to evaluate the
proposition that a significant opportunity exists for the Foundation to make an
important contribution in this area. This vigorous planning phase included meetings
of American and European scholars from relevant disciplines and discussions with
other groups and organizations working in areas related to an Aging Society. From
these meetings emerged an agenda for a research network to conduct a society-wide,
broad-based analysis of the modifications required in our major societal institutions
to facilitate emergence of a productive, equitable Aging Society in the United States.
Старіння суспільства
Старіння населення в сучасному світі - масове явище. Все більше число
людей вступають у період старості (75 років і більше). Кожен день близько 200
тисяч чоловік на планеті долають 60-річний рубіж. Старіння населення означає
скорочення вількості молоді в економіці, а також збільшення демографічного
навантаження на працездатне населення з усіма наслідками.
Старіння населення - глибинний процес, який позначається на всіх
сторонах життя людей. В економічній сфері старіння населення відбивається на
економічному зростанні, накопиченні, інвестиціях, споживанні, зайнятості,
пенсійному забезпеченні, податковій політиці і передачі накопичених знань і
досвіду з покоління в покоління. У соціальній сфері старіння населення
позначається на складі сім'ї та умови життя, потреби в житло, міграційних
тенденції, епідеміологічну обстановку та потреби у медичної допомоги. У
47
політичній сфері старіння населення може впливати на результати виборів і
систему політичного представництва.
Старіння населення є природним процесом, обумовленим зменшенням
народжуваності та збільшенням середньої тривалості життя. Але в той же час,
цей процес вимагає від суспільства великих зусиль і великої уваги, пов'язаних з
утриманням все більшої чисельності непродуктивного населення. У зв'язку з
цим, перед суспільством виникають три проблеми.
Перша проблема - необхідність посиленого зростання суспільної
продуктивності праці, тому що на кожного працюючу людину підвищується
навантаження у зв'язку із збільшенням непрацюючого населення. Без
інтенсивного зростання суспільної продуктивності праці суспільство не в змозі
буде далі розвиватися - не тільки підвищувати, але навіть підтримувати
досягнутий рівень душового споживання.
Друга проблема - створення умов для всебічної участі осіб похилого віку
в суспільному житті країни. Більше залучення пенсіонерів можливо тільки в
тому випадку, якщо для них будуть створені особливі умови праці, відмінні від
умов праці осіб працездатного віку; мова йде про відповідні професії, режим
роботи та інші умови. По-друге, суспільство може передбачити більш активне
залучення осіб похилого віку до громадської діяльності в її найрізноманітніших
формах, щоб людина, що залишила роботу, не відчула різкої зміни всього
ритму життя, що, як правило, негативно позначається на психіці. Третя
проблема – найголовніша - підвищення народжуваності в країні. На
сьогоднішній день саме населення мало замислюється над проблемою, яка вже
існує. І якщо не збити темпи смертності, то в найближчому майбутньому можна
говорити не про старіння населення в Україні, а вимирання українського
народу, як нації.
UNIT 3
EMPLOYMENT
TRANSLATION
I. Watch the video and answer the questions.
 What are the consequences of the global economic crisis according to the
International Labour Organization's annual report?
 How can the government stimulus packages help?
 Is there a solution to the problem?
II. Give the summary of the information in Ukrainian/ Russian/ English.
III. Watch the video.
 What occupations expect high percentage growth by 2018?
 What are the basic recommendations of the speaker?
48
IV. Give the summary of the information in Ukrainian/ Russian/ English.
UNIT 4
TRAINING
PRESENTATION
PART ONE
I. Read the abstract (BRIEF 1), answer the following questions and translate the
collocations in bold using the context and the information given below.
1. What can give a company a competitive edge?
2. Do you agree that it’s of major importance for any business to develop an effective
training strategy? Give your grounds.
3. What kind of employee’s skills are usually distinguished? Which of them should
be considered relevant? Why?
BRIEF 1
Most companies recognise the benefits of training employees. It can give a
company a competitive edge by increasing profits, productivity, creativity, staff
motivation and customer satisfaction. The key lies in developing an effective
training strategy for a business which identifies the skills and knowledge the
company needs to achieve its aims, the skills and knowledge employees already have
and, from that, the skills gaps to be filled. Organisations and managers are sometimes
reluctant to spend money and time on training because of the short-term costs, the
lack of a tangible return on investment and the possibility that staff might leave for
better jobs or competitors might poach their highly trained employees. Furthermore,
even when a company has a training evaluation process, it is often difficult to assess
the benefits of certain types of soft-skills training such as effective communication,
leadership skills, team building and conflict management.
Training can be done for many reasons and take many forms. As part of a
performance appraisal scheme, a manager may identify areas where an employee is
underperforming and recommend training. The company may have a career or
professional development programme for its staff and managers. There may also
be a specific requirement for all staff to learn a new scheme and to develop certain
computer literacy skills as well as technical and behavioural competences.
Extra info
Soft skills are personal attributes that enhance an individual's interactions, job
performance and career prospects. Unlike hard skills, which are about a person's
skill set and ability to perform a certain type of task or activity, soft skills are
interpersonal and broadly applicable.
49
Soft skills are often described by using terms often associated with personality traits,
such as: optimism, common sense, responsibility, a sense of humor, integrity and
abilities that can be practiced (but require the individual to genuinely like other
people) such as: empathy, teamwork, leadership, communication, good manners,
negotiation, sociability, the ability to teach.
It's often said that hard skills will get you an interview but you need soft skills to get
(and keep) the job.
Performance appraisal (PA) or performance evaluation is a systematic and periodic
process that assesses an individual employee’s job performance and productivity in
relation to certain pre-established criteria and organizational objectives.
Technical competencies are usually concerned with effective use of IT systems and
computers, or any technical skills which are necessary for a job role.
Behavioural competencies are usually an expression of the softer skills involved in
effective performance at a company. Behavioural competencies are the personal
characteristics that describe how you do your job. Different levels of behavioural
competency can indicate to a prospective employer how you will behave when faced
with certain situations. An example of levels of performance and the specific
behaviours around teamwork and cooperation might be:
1) Cooperates - participates willingly, supports team decisions, and shares useful
information.
2) Expresses positive expectations of team - respects others, speaks positively about
others contributions and abilities.
3) Solicits input - willing to learn from others, values others knowledge and expertise,
solicits opinions and ideas from others.
4) Encourages others - publicly credits others, encourages and empowers others.
5) Builds team spirit - good morale, cooperates with team, acts to promote a friendly
climate, protects and promotes the reputation of the group.
Questions that an interviewer would then ask around this competency might be,
"Describe a situation when you difficulty gaining cooperation from others team
members?" or "Give me an example of when you felt effective as part of a team."
They would then rate the answers based on the behavioural indicators.
II. Match the following English and Ukrainian collocations:
1.
competitive edge
2.
3.
training strategy
skills and knowledge
4.
skills gaps
5.
short-term costs
6.
a tangible return
investment
7.
evaluation process
a)
вміння
користуватися
сучасним
обладнанням і особистісні якості
b)
загальні професійні характеристики
c)
здатність урегулювати конфліктну
ситуацію
d)
індивідуальні бізнесові якості
e)
конкурентна перевага
on f)
критерії оцінки якості роботи
g)
лідерські здібності
50
8.
soft-skills
9.
hard-skills
10. effective communication
11. leadership skills
12. team building skills
13. conflict
management
skills
14. performance
appraisal
scheme
15. underperform
h)
i)
j)
k)
l)
m)
навички і знання
навички, яких бракує
організаторські здібності
працювати неефективно
програма професійного вдосконалення
процес оцінювання
n)
реальний (відчутний) прибуток на
інвестований капітал
o)
стратегія професійної підготовки і
підвищення кваліфікації
16. professional development p)
тимчасові витрати
programme
17. technical and behavioural q)
успішне спілкування
competences
PART TWO
I.
Read the abstract (BRIEF 2), answer the following questions and translate
the collocations in bold using the context and the information given below.
1.
What is the difference between formal and informal training? What is meant
by on-the-job training?
2.
Who can provide the training? What programmes do they offer? What type of
courses are there? Where can they be held?
3.
What are the benefits of pyramid model?
4.
What is the difference between distance, e-learning, face-to-face and blended
learning?
5.
What is meant by mentoring, coaching?
6.
Would you like to have a job for life? Is self-directed learning different from
the informal learning?
Although most emphasis is placed on formal training, people often learn most
about their jobs through informal on-the-job training, such as reading self-study
books and instructional manuals, talking to their managers, dealing with clients and
chatting with peers by the coffee machine or over lunch. The importance of this
informal training is often overlooked in the belief that training is something that
only takes place in a classroom.
Formal training takes a pre-determined form with specific learning objectives. It
could be in the form of university or college courses, workshops, seminars,
conferences, presentations or demos. It can be provided by an in-house expert, but
increasingly businesses are turning to specialised external consultants and training
providers. The programmes they offer may be tailor-made for the business or bought
off the shelf. Courses may be intensive or extensive and be held onsite or offsite.
51
Many companies also use the cascade training model to maximise the benefits from
training.
As information and computer technology has developed, it has become possible to
offer distance learning courses to business via the Internet. Some of the advantages
of this model are that employees can have more flexibility and control over their
training programme, and it is generally more economical for companies. However,
not all courses are suited to the e-learning format, and it's also important to bear in
mind the preferences and learning styles of employees, it seems likely that blended
learning, combining face-to-face classes with online materials, may become a
popular model for business training in the future.
Nowadays mentoring and coaching are popular forms of informal, personal
development in business, particularly for senior executives. The two are very similar,
but in general, coaching lasts for a set period of time. The word mentor comes From
Greek mythology, meaning “a trusted friend, counsellor or teacher”. Mentoring
programmes tend to be long term and they allow new, in experienced managers to
be paired with a more experienced person, who is not their direct boss. The mentor
offers “a friendly ear” and advice as the newcomer progresses in her/his career.
In the past, many companies could offer an employee a job for life. In today's
rapidly changing world, individuals, as well as companies, are aware of the need for
continuous and self-directed learning throughout one's lifetime. More and more
people are now taking more responsibility for planning their own career paths.
Extra info
Formal training basically refers to a course of instruction that has particular
objectives of learning and is conducted outside the workplace.
Informal training occurs in many organisations as a normal part of day-to-day work.
Informal training is a valid approach to improving employee skills and motivation.
Some examples of informal training in the workplace are: mentoring (a strategy that
matches a more experienced worker with a less experienced worker to provide
regular opportunities for sharing of advice and knowledge), ad hoc training sessions
by staff members (a staff member who has strong skills in a particular area, such as a
computer application, can provide ad-hoc training to co-workers on the job), group
briefings/guest speakers (individuals or teams can make presentations to colleagues
about specific projects they are working on. Guest speakers can also address seminars
to talk to employees), internal communications (intranets and internal publications
are valuable methods of keeping employees informed and providing access to various
resources that help improve skills), web-based training and computer tutorials (the
Internet offers tremendous resources for learning, either free or at a nominal charge),
books and references (organisations can establish technical and professional libraries
and circulate periodicals to encourage self-learning amongst staff).
Off the shelf - available from merchandise in stock; not custom-made.
Intensive courses largely aim at dealing with urgent training needs within a short
period of time. They often take place on an individual basis or in small groups. The
52
course duration for intensive courses is compact, full or half days for 3-5 days a week
(for example 1-2 compact course weeks with 5 full course days per week).
In contrast, extensive courses take place regularly on a weekly basis, at least once a
week. Each class lasts for at least 2 units (1 unit = 45 minutes).
The cascade, ripple, or pyramid model acts through training small groups of people
in functional skills and training techniques, who then, in turn, train small groups of
people with functional skills and training techniques, and so on, until functional skills
are passed on to the lowest staff level. The number of layers in the cascade can be
manipulated to fit available time, geography, and logistics considerations and optimal
training group sizes.
Distance education or distance learning is a field of education that focuses on
teaching methods and technology with the aim of delivering teaching, often on an
individual basis, to students who are not physically present in a traditional
educational setting such as a classroom. It has been described as "a process to create
and provide access to learning when the source of information and the learners are
separated by time and distance, or both." Distance education courses that require a
physical on-site presence for any reason (including taking examinations) have been
referred to as hybrid or blended courses of study.
Coaching and mentoring use the same skills and approach but coaching is short term
task-based and mentoring is a longer term relationship.
Autodidacticism (also autodidactism) is self-directed learning that is related to but
different from informal learning. In a sense, autodidacticism is "learning on your
own" or "by yourself", and an autodidact is a self-teacher. Autodidacticism is a
contemplative, absorptive procession. Some autodidacts spend a great deal of time
reviewing the resources of libraries and educational websites. One may become an
autodidact at nearly any point in one's life. While some may have been informed in a
conventional manner in a particular field, they may choose to inform themselves in
other, often unrelated areas.
II. Match the following collocations:
1.
2.
3.
4.
5.
6.
formal training
on-the-job training
informal training
self -study book
specific learning objectives
in-house expert
7.
8.
external consultant
tailor-made
9.
10.
off the shelf
intensive courses
a)
готовий
b)
довготривалі курси
c)
за межами підприємства
d)
змішана форма навчання
e)
інструктор
f)
Інтернет курси підвищення
кваліфікації
g)
кар’єрний шлях
h)
каскадна (послідовна) модель
підвищення кваліфікації спеціалістів
i)
конкретні цілі навчання
j)
короткотривалі
інтенсивні
курси
53
11.
extensive courses
12.
onsite
13.
offsite
14.
15.
16.
cascade training model
distance learning courses
e-learning
17.
learning styles
18.
19.
blended learning
face-to-face classes
20.
21.
22.
23.
mentor
coach
a job for life
self-directed learning
24.
career path
k)
курси дистанційної форми
підвищення кваліфікації
l)
на
території
бізнесової
структури
m) навчання безпосередньо на
робочому місці
n)
наставник
o)
незалежний консультант
p)
неофіційна форма підвищення
кваліфікації
q)
офіційна форма підвищення
кваліфікації
r)
підходи до навчання
s)
посібник для самостійного
опрацювання
t)
робота на все життя
u)
самостійне навчання
v)
спеціаліст компанії
w) спеціально
створений
(на
замовлення)
x)
традиційні форми заняття
UNIT 4
TRAINING
TRANSLATION AND INTERPRETATION
PART I
BUSINESS IDEOLOGY
I. Before you read, answer the questions:

Why do you think many MBA students choose to study abroad?

What would be the advantages and disadvantages of studying business in
an emerging economy such as China. India, Brazil or Russia?
II. Reading
Read this article and fulfill the tasks below.
GOODBYE TO OLD-FASHIONED IDEOLOGY
1 Earlier this year, the Chinese government took one of its most significant
steps to date in ditching old-style business and education ideology. It licensed China's
first privately owned business school to run MBA programmes. This ultra-capitalist
move was a sign that China intends to become a world player in management
education and that it will adopt US-style education policies to do so. The move comes
just 14 years after the government licensed its first MBA programme.
2 The school in question is the Cheung Kong business school, established with
money from one of China's richest men, Li Ka-Shiug, two-and-a-half years ago.
54
Already it has become a notable participant in the nascent Chinese market. Bing
Xiang. the dean, believes the government is using his school as a pilot. Clearly others
will follow, hut meanwhile the school has to pioneer ways of running programmes in
the traditional Chinese environment.
3 The Chinese university system’s application procedure is very different from
those in the US or Europe. Applicants can only apply to one school, and instead of
the GMAT test - widely used in the rest of the world - they must sit a locally
developed test known as GRK, which is written in Chinese. With professor Xiang
aspiring to attract overseas students to his programme, which is taught in English, the
Chinese education department has agreed that, although all MBA participants must
sit the test, there is no minimum score required.
4 If infectious enthusiasm were all it look, then the school would already be a
world leader in business education. It is easy to see why Professor Xiang, an
accounting professor by training, is so keen. Since its inception, the Cheung Kong
business school - the name means ‘Yangzte River’ - has graduated its first MBA
students, launched a range of executive programmes and is contemplating a doctoral
degree programme. That the school has come so far so quickly is thanks not only to
Professor Xiang, but to the remarkable changes happening in China and the thirst for
knowledge that exists for the region.
5 The school’s policy is to aim big. Its executive MBA (EMBA) programme an MBA for working managers - is the most expensive in China, costing Rmb 288,
000 ($35,500). Some 68 per cent of the participants are chief executives or directors.
Getting the right faculty is more difficult. At the moment, there is just a handful of
professors, but Professor Xiang intends to attract 80 faculty in the next ten years. As
with the top traditional Chinese universities - Fudan, Beijing nd Tsinghua – top of the
hit list are Chinese professors who have studied and taught abroad. Academic
associate dean Jeongwen Chiang was a marketing professor at the University of
Rochester, and strategy professor Ming Zeng taught at Insead, for example. Both
were seduced by the idea of conducting research in China.
6 ‘You really have to be here,’ says Professor Zeng. ‘If you are going to live in
an e-world, using e-mails, it’s really not going to happen. Companies are eager to
learn from you, the professors. China is changing every day. ’ The EMBA alumni
network, is extremely powerful, he says. ‘We can get into companies, we can get
information not through the formal channels.’
7 Professor Xiang believes the Cheung Kong school is a bridge between
western academic research and Chinese Knowledge. He says: ‘People like myself
have this view and vision. We don't want to regurgitate what we learnt in the US.’
The school has written up to 80 case studies of local companies, and the dean
believes this is a significant bartering chip when negotiating with overseas business
schools to run joint programmes in the region. The school has organised a three-week
programme with Insead and the Wharton School of the University of Pennsylvania
for March, with one week taught on each campus. ‘Our connections are getting better
every day,’ says Professor Xiang. ‘We want to look at top-ranked business schools in
the US and Europe. We will be complementary to each other.’
55
8 The Li Ka-Shing foundation is committed to keeping the school afloat for ten
years, but Professor Xiang believes the school will be able to raise additional funds
from individuals in the next few years. He believes the school has to consolidate its
position in China, hut does not intend to stop there. ‘Our ambition is to go way
beyond China,’ he says.
III. Read through the whole article to find the people or things, translate into
Ukrainian/ Russian.
a) the dean of Cheung Kong business school
b) the university test used in the US and Europe
c) the type of course the school offers
d) the price of the school MBA programme
e) the number of teaching staff the school hopes to acquire
f) two foreign schools that are collaborating with the Chinese MBA
IV. Correct the statements (paragraphs 1 and 2), where necessary, translate them
into Ukrainian/ Russian.
a) The Chinese government set up China’s first privately owned business school.
b) China hopes to ban U S -style education in management education,
c) The new school was set up with money from Li Ka-Shing and Bing Xiang.
d) The new business school belongs to Bing Xiang.
e) The school is a model for future Chinese business schools.
V. Find words and expressions in paragraphs 3-5 that reflect the following,
translate into Ukrainian/ Russian.
a) system of requesting a university place
b) do an exam
c) the number of points required to pass a test
d) the start of an organization or institution
e) a university qualification of the highest level
f) a strong desire for information to learn
g) university teaching staff
h) the head of a university or university department
VI. Read paragraphs 3-7 and state whether these statements are true or false,
translate them into Ukrainian/ Russian.
1.
The school’s MBA is taught in various Chinese languages
2.
The school’s policy is to attract more professors from the US
3. Professor Chiang and Professor Zeng both prefer teaching in China
4. Contacts with ex-students means they can conduct research more easily
5. They want to implement an American ideology in the school.
VII. Look at paragraphs 6 and 7 and choose the best alternative to replace the
words in italics in the context of the article, translate into Ukrainian/ Russian.
a) alumni network (paragraph 6)
56
 contact with former students
 meetings between former students
b) a bridge between (paragraph 7)
 a transition from... to ...
 a way to get rid of differences between
c) regurgitate (paragraph 7)
 reproduce exactly without thinking
 memorise effectively
d) a significant bartering chip (paragraph 7)
 a factor other than money used in negotiating
 a concession used in exchange of goods and services
e) run joint programmes (paragraph 7)
 give courses simultaneously
 organize courses with other institutions
f) on (each) campus (paragraph 7)
 online
 on the university or business-school site
g) connections (paragraph 7)
 relationships with other business schools
 communication with foreign institutions
h) top-ranked (paragraph 7)
 most expensive
 most prestigious
VIII. Match each expression (1-6) with the verb that it goes with, provide
Ukrainian/ Russian equivalents.
1. pioneer (paragraph 2)
keeping the school afloat
2.
aspiring (paragraph 3)
has come so far
3.
If infectious enthusiasm
get into companies
(paragraph 4)
4.
the school (paragraph 4)
were all it took
5.
We can (paragraph 6)
ways of running programmes
6.
committed to(paragraph 8)
to attract overseas students
IX. Match the words in italics in the previous exercise to their semantics.
having enough money to operate
done very well in the circumstances
the only thing required
have significant access to
organizing or managing
hoping to be successful in
be the first to do something
57
X. Roleplay the dialogue discussing the following questions.

What are the benefits and drawbacks of working and studying at the same
time?

How necessary is it to have an MBA in order to further your career in your
country or sector/line of business?
XI. Practise consecutive / simultaneous interpretation of the discussion.
XII. Present your translation-oriented analysis of the article GOODBYE TO
OLD-FASHIONED IDEOLOGY using the prompts given in UNIT 1.
XIII. Give the sight translation (Ukrainian-English, English-Ukrainian)of the
articles.
Стажування
Стажування — навчання персоналу на робочому місці під керівництвом
відповідальної особи після теоретичної підготовки або одночасно з нею з
метою практичного оволодіння спеціальністю, адаптації до об'єктів
обслуговування та керування, набуття навичок швидкого орієнтування на
робочому місці та інших прийомів роботи.
Відповідно до Закону України «Про вищу освіту» стажування - це
набуття особою досвіду виконання завдань та обов'язків певної спеціальності.
Трудове законодавство визначає стажування, як навчання на виробництві.
Стажування передбачає засвоєння кращого вітчизняного та зарубіжного
досвіду, набуття практичних умінь і навичок щодо виконання обов'язків на
займаній посаді або на посаді вищого рівня.
Необхідно розрізняти такі поняття як випробувальний термін та
стажування, оскільки стажування проводиться до початку прийому на роботу, а
випробування в процесі роботи. Оскільки стажування - це навчання, то воно
може бути платним і безоплатним, оплачуватися як за рахунок підприємствароботодавця, так і за рахунок працівника.
Internship
Internship is a system of on-the-job training for white-collar and professional
careers. Internships for professional careers are similar to apprenticeships for trade
and vocational jobs. Although interns are typically college or university students,
they can also be high school students or post-graduate adults. Rarely, they can even
be middle school or in some cases elementary students.
Generally, the internship works as an exchange of services for experience between
the student and his or her employer. Students exchange their cheap or free labor to
gain experience in a particular field. They can also use an internship to determine if
they have an interest in a particular career, create a network of contacts, or gain
school credit. Some interns also find permanent, paid employment with the
58
companies in which they interned. Thus, employers also benefit as experienced
interns need little or no training when they begin full-time regular employment.
PART II
PROFESSIONAL DEVELOPMENT
I. Before you read answer the question:
What are the arguments for and against companies spending money on training and
professional development for their employees?
II. Reading
Read the article and fulfill the tasks stated below.
EMPHASIS SHOULD BE SKILLS INVESTMENT
1 Ask any question, about the problems facing an ailing economy and the
answer is likely to include the skills shortage. Yet, while the diagnosis may be
correct, the prescription is all two often wrong. Instead of developing existing staff,
companies poach the best from their competitors or from overseas.
2 Rather than organising work-based educational programmes, employees are
sent on generalist courses in ‘management’ or its new incarnation, ‘leadership’.
‘Companies are often falling to hit the target,’ says. Jim Hinds of Marakon
Associates, a consultancy that advises FTSE 100 companies on the Issues that most
drive their performance and long-term value. ‘They are not investing enough in
training, and what they are investing is often directed at the wrong places.’
3 A competitive labour market and a shortage of skilled professionals should
give more weight to the old credo that ‘people are your finest asset’. But a gaping
gulf has emerged between rhetoric and reality. On the one hand, professional
development broadly described as the systematic development of knowledge and
skills - is receiving more attention from policy gurus than ever before; on the other
hand, companies have become increasingly reluctant to invest in training, leaving the
job to the regulators, individual employees or the professional associations they have
formed.
4 Exact figures are hard to pin down, but Saratoga, an arm of accountancy firm
PwC, estimates that expenditure on formal, off-the-job training has decreased by 10
per cent during the past two years. This could be masked by the rise in online
learning, but is still a fall big enough to cause concern. So long as employees are
likely to change jobs at any time, employers will question whether they should be
picking up the tab for training. But the simple answer is that companies cannot afford
not to.
5 ‘A good employer is not necessarily one who pays the highest rate, but is one
who helps keep their staff’s skills and hence their employability up to date,’ says
Richard Phelps, partner at Saratoga. Mr. Phelps says that training is often the last
item to be added to a company’s budget and the first to go because it is hard to
demonstrate the return on investment. ‘Companies have failed to take training as
59
seriously as they should because it is hard to demonstrate exactly how much impact it
has on the bottom line,’ he adds.
6 However, the changing nature of work with downsized, flatter organisations,
the end of the ‘job for life’ and the rise of the ‘player manager’ - has also made,
companies aware that to be competitive, they need to get more out of their people.
‘Companies have downsized, right-sized, reorganised, but they now cannot cut or
reorganise any further. So, where do they focus next as a way of getting an advantage
over their competitors? The most obvious place has to be their people,’ says Mr.
Hinds.
7 Consultancies, training providers and business universities all point to a near
doubling in the number of customised education programmes as a result. ‘Most
companies are looking for training that will have the biggest impact. They are
beginning to invest again, but they are being much more discriminatory,’ says Hill
Shedden, director of customised executive development at Cranfield University.
8 Certainly, the increase in regulation is starting to push some companies to put
their money where their mouth is. Continuing professional development (CPD) has
become compulsory in most core accountancy disciplines. However, much of the
burden has fallen on individuals who have been forced to foot the bill for training
themselves. Jonathan Harris, chairman of the Institute of Continuing Professional
Development, says employees are much like athletes, ‘engaged in a process of
permanent and endless training. They plan their route, exercise and, as soon as they
hit one goal, there is a new one.’
9 Professional associations are forcing the many organisations that compete for
members within each industry to pay more attention to CPD. The Financial Services
Authority now requires employers to be responsible for keeping their staff’s
competence up to date, with those that fail liable to stinging fines. Proposals put
forward as part of the Operating and Financial Review in the UK have put pressure
on companies to increase transparency and to demonstrate to shareholders the impact
of human resources policies.
10 Once companies have worked out a way of measuring and demonstrating
clearly to stakeholders the contribution that training makes to the company, they will
find it easier to make room for it in their budgets,’ says Mr. Phelps. In business terms,
this could mean that the sums on training finally add up. Or, as Derek Bok, the
Harvard president, once said: ‘If you think training is expensive, try ignorance.’
III. Complete the sentences (1-8) with the appropriate expressions (a-h), then
check your answers and translate the completed sentences.
1. According to the article, companies should invest more ___________
2. According to one consultancy,____________ are not the answer to the problem.
3. Despite recognition of its importance, money allocated to _________ has
diminished in recent years.
4. Employers are _______ training, knowing that their people may leave at any time.
5. Organisations need to provide regular skills training for their staff __________.
6. One current trend is the ________________of executive training programmes.
7. Some professional bodies are making it obligatory for ____________.
60
8. Richard Phelps says that it will be easier to increase spending on CPD once
companies are able to measure _____.
a) in order to remain competitive in the marketplace
b) in the professional development of their employees
c) companies to keep staff skills up to date
d) off-the-job training
e) reluctant to pay for
f) customisation or tailoring
g) return on investment
h) generalised courses on management or leadership
IV. Read the first three paragraphs and match the words with their definitions,
translate them.
ailing
take unfairly or illegaly
prescription
impressive language used to influence people
poach
great difference or lack of understanding
incarnation
very wide and open
credo
sickly or unhealthy
gaping
formal statement of beliefs
gulf
latest version or reinvention
rhetoric
medicine or treatment ordered by a doctor
V. Match the adjectives with the nouns to form the corresponding word
combinations from paragraphs 4-8, translate the final collocations.
off-the-job
universities
bottom
programmes
flatter
organisations
business
learning
customised
development
proffessional
training
online
line
VI. Choose the meaning of the phrasal verbs used in paragraphs 9-10, translate
them.
a) keep up to date (paragraph 9)
 make something continue
 continue to learn and know about the most recent facts
 continue to practise a skill so that you don’t lose it
b) put forward (paragraph 9)
 suggest a plan for others to consider or discuss
 suggest formally that someone should be considered for a job
 arrange for an event to start at an earlier time
c) work out (paragraph 10)
61
 exercise or train
 think carefully about how to do something
 work very hard
d) add up (paragraph 10)
 say more about something
 give a particular quality to something
 come to an acceptable total within a given budget
VII. Substitute the idiomatic expressions in italics in these sentences (1-6) by the
corresponding definitions (a-f), provide Ukrainian equivalents if possible.
1. companies poach the best from
a) paying for something when it’s not
their competitors
you responsibility
2. Companies are often failing to hit
b) take the most qualified and
the target
experienced people unfairly
3. They should be picking up the tab
c)
to be given up readily
for training.
4. training is often the last item... and d) successfully find the exact answer
the first to go
or solution
5. end of the ‘job for life’
e) long-term employment with the
same company
6. push some companies to put their
f) do what they say they will do
money where their mouth is
VIII. Roleplay the dialogue taking into consideration the following questions.

What kind of training is required in your company of organisation?

Who do you think should foot the bill for professional development
(employers, staff professional bodies)?

Should professional training take always place during work hours? Why (not)?
IX. Practise consecutive / simultaneous translation of the dialogues.
X. Present the translation-oriented analysis of the article EMPHASIS SHOULD
BE SKILLS INVESTMENT.
X. Give the sight translation of the article.
Осві́тньо-кваліфікаці́йний рівень ви́щої осві́ти
Осві́тньо-кваліфікаці́йний рівень ви́щої осві́ти — характеристика вищої
освіти за ознаками ступеня сформованості знань, умінь та навичок особи, що
забезпечують її здатність виконувати завдання та обов'язки (роботи) певного
рівня професійної діяльності. В Україні розрізняють такі освітньокваліфікаційні рівні (згідно з відповідними освітньо-професійними
програмами): кваліфікований робітник; молодший спеціаліст; бакалавр;
спеціаліст; магістр.
62
Підвищення кваліфікації, перепідготовка кваліфікованих робітників та
фахівців з вищою освітою здійснюється за відповідними освітньопрофесійними програмами післядипломної підготовки.
Навчальні заклади відповідно до потреб народного господарства в межах
ліцензованого обсягу прийому на відповідний напрям підготовки чи
спеціальність здійснюють на конкурсній основі прийом на навчання за
освітньо-професійними програмами підготовки кваліфікованих робітників та
фахівців з вищою освітою.
Освітньо-професійні програми підготовки кваліфікованих робітників та
фахівців з вищою освітою відповідних освітньо-кваліфікаційних рівнів —
державні документи, які визначають зміст та нормативний термін навчання і
передбачають відповідні форми контролю та державної атестації. Зазначені
освітньо-професійні програми затверджуються Міносвіти.
Вимоги до змісту, обсягу і рівня освітньої та фахової підготовки
встановлюються державними стандартами освіти, які є основою оцінки
освітнього та освітньо-кваліфікаційного рівня громадян незалежно від форм
одержання освіти. Державні стандарти освіти розробляються окремо з кожного
освітньо-кваліфікаційного рівня і затверджуються Кабінетом Міністрів
України. Вони підлягають перегляду та перезатвердженню не рідше ніж один
раз на 10 років. Контроль за рівнем освітньої та фахової підготовки, яку
здобуває особа у процесі засвоєння змісту навчання, і визначення його
відповідності встановленим у змісті освіти вимогам здійснюються в
установленому порядку.
UNIT 4
TRAINING
TRANSLATION
HOW TO WRITE RESUME THAT GET RESULTS
I. Listen to the recommendations and learn what information your resume
should contain so you stand out from the rest. Give the summary.
II. Insert the missing words and phrases.
Are you looking for a job? 1_________. Now, I’ve read or okay let me be fair,
I’ve looked at least 25,000 resumes. A lot of my career has been as a 2________. So
I’ve looked at all these resumes, so I just want to 3_________ some tips to you that
might 4_________. The very first one is, notice I said I look at resumes. I don’t read
resumes. Nobody has time to read resumes. So when you’re writing a resume, you
write a resume for people who are not going to read it. So what that means is you
have to use 5_________, make them 6_________, make them simple and easy. Don’t
have a phrase that goes to a second line. Just make it so they can just see
7_________and go, “Oh I’m interested in that!” It’s almost like 8_________on a
sheet of paper. What do the 9_________say? Well the first thing that you might guess
would be your name. But if your name is 10_________Kawalawitz III but everybody
63
calls you Willy, just put 11_________. Put the name that you use so they don’t have
12_________when they interview you from this really long name to something that is
really very simple. So that’s the first thing is your name nice and simple. Secondly is
your 13_________. The ideal email address to have underneath your name has your
name. So it says, Willy.kowalawitz 14_________mail. And the reason you want to
do that is a very 15_________to repeat your name that is your brand and you are
16_________it. And they’ll also think that’s pretty clever. And then lastly, you want
to put your phone number and best is the 17_________if you happen to have one, use
the cell phone because you will typically be the one to answer it and you’ll be able to
get it more times than not. So you want to use your cell phone. And that’s it. No
address? Well sometimes yes. But these days with the privacy issues I frankly
recommend that you consider your name simple, your email address simple, the one
phone number make it easy for them to 18_________to the main event. And the main
event is really about you, and there are two parts. What are you looking for and what
do you got? The what are you looking for is on the 19_________line and all you
really need to put is the kind of job you are looking for, the kind of industry you want
to work in and then finally the location. So if you want to be sales manager in
20________in Atlanta Georgia, that says it very quick and you can get all of that on
one line. Now of course the main event is what do you bring to the party. And there
are basically three things. One of course is the experience you have. Two is the
education, but let’s not forget the skills that you posses and most importantly the
21_________, the results. Most recruiters believe the best predictor of future
performance, hopefully really good performance, is past performance. So in your
resume you 22_________in very work experience with both accomplishments and
results because resumes that show results will bring results. But what kind of result?
Well the resume by itself will not get you the job, but it’s tough to get the interview
that will get you the job without the resume. So resumes are really key, resumes are
really important but they need to be simple, right them for people who don’t read and
make it an 23_________of who you are and what you have to deliver and it will help
24_________ to you the job that you want.
III. Practise consecutive / simultaneous translation of the information.
IV. Watch the interview with New York City Council candidate and public
relations executive Ken Biberaj on "How Do You Use Your Network to Get
Help Making Career and Life Decisions?" Sum up the main ideas, comment on
them.
Extra info
Ken Biberaj is currently a 2013 Candidate for New York City Council for the West
Side of Manhattan. He is also a public relations executive for the Russian Tea Room
restaurant at One Fifty Fifty Seven Corporation, a family business focused on real
estate development, investment sales and retail leasing. Previously he was Florida
Research Director for the Kerry-Edwards for President Campaign. He holds a JD
from New York Law School, a Masters in Public Policy (MPP) from Harvard
64
University Kennedy School of Government, and a BA in Political Science from
American University.
UNIT 5
FINANCE AND BANKING
PRESENTATION
PART ONE
I. Read the abstract (BRIEF 1), answer the following questions and translate the
collocations in bold using the context and the information given below.
1. What is finance? What is it concerned with? What does it allow? What are the
aspects of finance?
2. What is banking? What are the main banking services? What are the main banking
institutions and accounts? What is the difference between different types of banks?
3. What other financial institutions can you name?
BRIEF 1
Finance is the part of economics concerned with providing funds to individuals,
businesses and governments, finance allows these entities to use credit instead of
cash to purchase goods and invest in projects. For example, an individual can
borrow money from a bank to buy a home. A company can raise money through
investors to build a new factory. Governments can issue bonds to raise money for
projects. There are many other aspects of finance, such as corporate finance and
public finance.
Institutions such as stock exchanges provide a market for existing securities, which
include stocks and bonds. Banks and other financial institutions provide credit.
Banking is the business of providing financial services to consumers and
businesses. Some of basic banking services are checking accounts (current
accounts in the UK) and savings accounts and deposit accounts that can be used to
save money for future use. Other services include loans, credit cards and basic cash
management services such as foreign currency exchange.
Banking institutions include commercial banks, savings and loan associations
(SLAs) and savings banks. The major differences between these types of banks lie in
how they are owned and how they manage their assets and liabilities. Bank assets
are typically cash, loans, securities (bonds, but not stocks) and property in which the
bank has invested. Liabilities are mainly the deposits received from the bank’s
customers, which are still owned by, and can be withdrawn by, the depositors.
Other financial institutions that are not banks but nevertheless provide banking
services include: finance companies, investment companies, investment banks,
insurance companies, pension funds, security brokers and dealers, mortgage
companies and real-estate investment trusts.
Extra info
65
Corporate finance is the area of finance dealing with monetary decisions that
business enterprises make and the tools and analysis used to make these decisions.
The primary goal of corporate finance is to maximize shareholder value. Although it
is in principle different from managerial finance which studies the financial decisions
of all firms, rather than corporations alone, the main concepts in the study of
corporate finance are applicable to the financial problems of all kinds of firms.
Types of Accounts Typically Offered by Banks
Although banks offer a wide variety of accounts, they can be broadly divided into
five types: savings accounts, basic checking accounts, interest-bearing checking
accounts, money market deposit accounts, and certificates of deposit.
Savings Accounts
These are intended to provide an incentive for you to save money. You can make
deposits and withdrawals, but usually can't write checks. They usually pay an interest
rate that's higher than a checking account, but lower than a money market account or
CD. Some savings accounts have a passbook, in which transactions are logged in a
small booklet that you keep, while others have a monthly or quarterly statement
detailing the transactions. Some savings accounts charge a fee if your balance falls
below a specified minimum.
Basic Checking Accounts
Sometimes also called "no frills" accounts, these offer a limited set of services at a
low cost. You'll be able to perform basic functions, such as check writing, but they
lack some of the bells and whistles of more comprehensive accounts. They usually do
not pay interest, and they may restrict or impose additional fees for excessive activity,
such as writing more than a certain number of checks per month.
Interest-Bearing Checking Accounts
In contrast to "no frills" accounts, these offer a more comprehensive set of services,
but usually at a higher cost . Also, unlike a basic checking account, you are usually
able to write an unlimited number of checks. Checking accounts which pay interest
are sometimes referred to as negotiable order of withdrawal (NOW) accounts. The
interest rate often depends on how large the balance in the account is, and most
charge a monthly service fee if your balance falls below a preset level.
Money Market Deposit Accounts (MMDAs)
These accounts invest your balance in short-term debt such as commercial paper,
Treasury Bills, or CDs. The rates they offer tend to be slightly higher than those on
interest-bearing checking accounts, but they usually require a higher minimum
balance to start earning interest. These accounts provide only limited check writing
privileges (three transfers by check, and six total transfers, per month), and often
impose a service fee if your balance falls below a certain level.
Certificates of Deposit (CDs)
These are also known as "time deposits", because the account holder has agreed to
keep the money in the account for a specified amount of time, anywhere from three
months to six years. Because the money will be inaccessible, the account holder is
rewarded with a higher interest rate, with the rate increasing as the duration increases.
There is a substantial penalty for early withdrawal, so don't select this option if you
think you might need the money before the time period is over (the "maturity date").
66
An investment company is a company whose main business is holding securities of
other companies purely for investment purposes. The investment company invests
money on behalf of its shareholders who in turn share in the profits and losses.
A real estate investment trust or REIT is a tax designation for a corporate entity
investing in real estate. The purpose of this designation is to reduce or eliminate
corporate tax.
II. Match the following English and Ukrainian collocations:
1.
funds
a. активи та пасиви
2.
credit
b. акції та облігації
3.
cash
c. банківське обслуговування
4.
invest in
d. банківські установа
5.
borrow
e. брати в борг, позичати
6.
raise money
f. брокери
та
дилери
фондових ринків
7.
investor
g. випускати облігації
8.
issue bonds
h. вкладник; депозитор
9.
corporate finance
i. внутрішнє
корпоративне
фінансування
10. public finance
j. готівка
11. stock exchange
k. депозит, рахунок у банку
12. stocks and bonds
l. депозитний
рахунок;
авансовий рахунок
13. financial institutions
m. державне фінансування
14. banking
n. залучувати кошти
15. financial services
o. заощаджувальний рахунок
16. checking account (current account
p. інвестиційна компанія
– UK)
17. savings account
q. інвестиційний банк
18. deposit account
r. інвестор
19. loan
s. інвестувати,
вкладати
кошти
20. credit card
t. іпотечна компанія
21. cash management services
u. іпотечний
інвестиційний
траст
22. foreign currency exchange
v. комерційний банк
23. banking institution
w. кошти, капітал
24. commercial bank
x. кредит(кредитна картка)
25. savings and loan association
y. кредитна картка
26. savings bank
z. надання готівкових послуг
27. assets and liabilities
aa. обмін валют
28. securities
bb. ощадбанк
29. deposit
cc. ощадно-позикова (ощаднокредитна) асоціація
67
30.
31.
32.
33.
34.
35.
36.
37.
38.
dd. пенсійний фонд
ee. позика
ff. поточний рахунок
gg. страхова компанія
hh. фінансова компанія
ii. фінансові послуги
jj. фінансові установи
kk. фондова біржа
ll. цінні папери
depositor
finance companу
investment companу
investment bank
insurance companу
pension fund
security brokers and dealers
mortgage company
real-estate investment trust
UNIT 5
FINANCE AND BANKING
TRANSLATION AND INTERPRETATION
PART I
INTERNATIONAL BANKING
I. Before you read, answer the question:

What are the biggest banks operating in your country?
II. Reading
Read this article and fulfill the tasks below.
WHY DEUTSCHE RESISTS NATIONAL CHAMPION STATUS
1 Even since Deutsche Bank discovered that operating abroad - particularly in
investment banking - was more profitable than much of its root-and-branch business
back home, Germany's biggest bank has had a difficult relationship with the local
establishment. For -a nation that demands patriotism from its big companies,
Deutsche's announcement recently that it would be laying off 6,400 people -even
though it had made retard profits of €2.5bn - was hard to swallow.
2 Politicians of all parties have accused Josef Ackermann, the bank's affable
Swiss-born chief executive, of ‘immorality’ for pulling profits before jobs. Yet
politicians - especially those preparing for important regional elections against a
background of a record 5 million unemployed -were always likely to criticise
Deutsche over its job cuts. For Deutsche, the real trouble is that the German social
ethos fits uncomfortably with global shareholder value principles.
3 Deutsche might have made record profits last year. But, when compared with
its global peer group, a pre-tax return on equity of 19 per cent and a market
capitalisation of barely €35bn put it outside the top 20 even though, in terms of
assets, revenues and investment-bank league-table performance-, it is a top-ten
operator. For Mr. Ackermann, it is the age-old tussle between what Germany
demands and what investors and the analyst community want to hear - namely that he
68
is undertaking serious measures to reach his goal of a 25 per cent pre-tax return on
equity, on a par with US rivals.
4‘Deutsche Bank is supposed to be a national champion,’ says David Williams,
an analyst at Morgan Stanley in London. ‘The trouble is that the definition of a
national champion differs inside and outside Germany. Deutsche can only really play
in the top tier if its profits, share price and market capitalisation are comparable with
the best. But inside Germany, all that matters is for a bank to have a big balance
sheet, employ a lot of people and lend money to anyone who wants it.
5 That kind of tension does not only apply to Deutsche Bank, but to any
company that pits itself against an international peer group and puts pressure on jobs
while being highly profitable. For Deutsche, though, it is more acute, analysts
believe. Siemens last year extracted longer hours for no extra pay from several
thousand staff in its mobile and networks operations, while BASF said in November
it would cut 3,500 jobs despite recording forecast-beating profits. Yet both Siemens
and BASF appear to have avoided a political onslaught by being open to
compromise. Siemens abandoned initial plans to shift up to 5,000 jobs overseas, and
BASF promised to avoid compulsory redundancies.
6 Deutsohe's difficult relationship with the German establishment is longstanding. Despite carrying its nationality in its name, it no longer regards itself as a
German bank, and these days employs more people - and makes more money abroad than at home. To compound matters, Mr. Ackermann is not even German.
Despite reasonable links to government, advisers say Mr. Ackermann is obliged to
maintain a degree of distance in his political and corporate networking in order to
avoid bring drawn into unprofitable patriotic business.
7 Morgan Stanley believes the political outcry over the Deutsche jobs saga
carries a resonant message. ‘This kind of political interference is derailing capitalis m
in Germany,’ says Mr. Williams. ‘It is social engineering. And it is delaying muchneeded consolidation in German banking. It is a big deterrent for potential acquirers
from abroad. For Deutsche, in particular, senior managers believe the debacle has
exacerbated the ‘German discount’ attached to the share price. That is the last thing
Mr. Ackermann needs as he tries to play catch-up with his international rivals.
III. Read the whole article and complete this summary using ONE - THREE
words from the text in the blank spaces, translate it into Ukrainian.
Deutsche Bank is Germany's a) ______ bank, but there are increasing tensions
between the expectations of German society and the bank's strategy to become a
leading player n international banking. German b)______are accusing the bank of
giving more priority to making profits rather than Saving jobs.
Although the bank made record profits last year, it is not one of the c)_____
investment banks in the world in terms of share value. For this reason, Josef
Ackermann, Deutsche’s CEO, needs to increase pre-tax return on d)_______ from e)
_______ in order to compete with f) _____banks.
Two other German companies, g)_________, suffered similar pressure when
they planned to cut jobs in Germany, and both had to h)_______ in reality, Deutsche
is a German company in name only, since it now employs more people and makes
69
more money abroad. Experts at Morgan Stanley believe that German banking is in
need of l) ______ but that j) ____is making this difficult.
IV. Read paragraphs 1 and 2, then match the two parts of these word
combinations.
1. investment
a) establishment
2. root-and-branch
b) value
3. local
c) off
4. laying
d) profits
5. record
e) ethos
6. social
f) banking
7. shareholder
g) business
V. Match the expressions from the previous exercise with the correct definition,
translate them into Ukrainian/ Russian.
a.
set of ideas and moral attitudes that are typical of a particular group
b.
highest ever level of money gained from doing business
c.
principle which states that the first consideration in business decisions is the
interests of people who own company shares
d.
group of people in a society who have a lot of power and influence and who are
often opposed to any kind of change or new idea
e.
the complete network of local offices that are part of the larger organisation
f. activity of buying stocks and shares and then selling them to the public; also
offering advice on mergers and takeovers
g. stop employing someone because there is no work for them to do
VI. Find the-words and expressions in paragraphs 3 and 4 which mean the
following.
a.
group of companies or products that can be compared because they are similar
in a number of ways
b.
amount of profit made on an investment
c.
capital that a company has from shares
d.
total value of a company's shares
e.
things belonging to a business that have value or the power to earn money
f.
money a company receives from selling goods or services
g.
expert who studies financial data and recommends business actions
h.
at the same level, value or standard as
i.
participate at the highest level
j.
document showing a company's financial position and wealth
VII. Read paragraph 5.Which statements refer to Siemens, BASF, both or
neither?
a.
b.
increased wording hours without increasing salaries in some divisions
introduced longer working hours throughout the company
70
c.
made bigger profits than expected last year
d.
planned to reduce the workforce in Germany
e.
received the same strong criticism from politicians as Deutsche
f. will transfer about 5,000 jobs outside Germany
g. decided not to move thousands of jobs to other countries
h.
agreed to ask which staff want to leave their jobs return for a payment
VIII. Read paragraphs 6 and 7 and say whether these statements are true or
false.
a.
Deutsche was on good terms with the establishment until recently.
b.
Mr. Ackermann’s nationality has helped improve the bank’s relationships with
the establishment.
c.
Mr. Ackermann doesn’t maintain close ties with the establishment so his
company doesn't have to get involved in loss-making businesses.
d.
The angry protests about Deutsche’s job cuts has a deeper significance in
German business.
e.
Mr. Williams believes that the government is interrupting plans to make
German banks stronger.
f.
Mr. Williams thinks foreign buyers are becoming more interested in German
banks.
g.
Top management in Deutsche feel that the political situation is helping to
increase the bank's share price.
IX. Roleplay the dialogue answering the questions:

Do you think the national government and establishment are right to put
pressure on national companies?

What are the potential risks of this level of political interference? What are the
advantages?
X. Practise consecutive / simultaneous translation of the dialogue.
XI. Present your translation-oriented analysis of the article WHY DEUTSCHE
RESISTS NATIONAL CHAMPION STATUS using the prompts given in
UNIT 1.
XII. Give the sight translation (Ukrainian-English, English-Ukrainian) of the
articles.
Offshore Banking
71
As money making instruments have become more creative over the years, the
offshore banking sector has become an integral piece of the global financial system.
Offshore banking provides an elite list of benefits to its clientele, thereby increasing
its popularity.
Definition An offshore bank is a banking institution that is located outside the
country of residence of the customer and is licensed as an offshore establishment.
Advantages Offshore banks, which are often located in low-tax jurisdictions,
are most well-known for the tax advantages they offer to their clientele, which allows
them to build their capital while paying little to no tax. Offshore banks are also
desirable for the stringent privacy that they afford their clients, as they are not under
the authority of domestic courts or creditor institutions. Asset protection from
lawsuits and divorce is another advantage of moving funds offshore.
Disadvantages Privacy laws and relaxed regulations facilitate organized crime,
money laundering, and tax evasion activities. Retrieving information and gaining
physical access to offshore banks can also be difficult given their locations.
Clients High net worth individuals, corporations, and expatriates who are
retired or working abroad are the most frequent offshore banking clients.
Location The majority of funds held in offshore institutions are deposited in
Switzerland or the Cayman Islands; however, many offshore institutions exist
worldwide.
Банківська система, її функції
Банківська система - це законодавчо визначена, чітко структурована
сукупність фінансових інститутів, які займаються банківською діяльністю.
Специфіка банківської системи проявляється в її функціях, а саме:
а) регулювання грошової маси;
б) трансформаційна функція;
в) стабілізаційна функція.
Функція регулювання грошової маси полягає в тому, що банківська
система оперативно змінює масу грошей в обігу, збільшуючи або зменшуючи її
відповідно до зміни попиту на гроші. У виконанні цієї функції беруть участь усі
ланки банківської системи (НБУ і комерційні банки), вона стосується всіх
напрямів банківської діяльності.
Трансформаційна функція полягає в тому що банки, мобілізуючи вільні
кошти одних суб’єктів господарювання і передаючи їх іншим суб’єктам, мають
можливість змінювати (трансформувати) величину й терміни грошових
капіталів та фінансові ризики.
Стабілізаційна функція забезпечує сталість банківської діяльності та
грошового ринку. Враховуючи, що для банківської діяльності характерні високі
ризики, що банки працюють в умовах постійної і підвищеної загрози втрати
грошей та банкрутства, боротьба з ризиками є важливим завданням не лише
окремих банків, а й усієї банківської системи. Банки як посередники грошового
ринку беруть на себе відповідальність перед інвесторами за банківський ризик
своїх
позичальників.
Стабілізаційна
функція
банківської
системи
забезпечується шляхом прийняття законів та інших нормативних актів, що
72
регламентують діяльність усіх її ланок, створення належного механізму
контролю й нагляду за дотриманням як чинного законодавства, так і діяльності
банків.
UNIT 5
FINANCE AND BANKING
TRANSLATION AND INTERPRETATION
PART II
CORPORATE RECOVERY
I. Before you read, answer the question:
 If a company is having financial problems, what can it do to help pay its debts?
II. Reading
Read this article and fulfill the tasks below.
FLOODGATES OPEN TO A NEW STYLE
1 Some years ago at the Plaza Hotel in New York, a group of British clearing
banks and officials from the Bank of England were introduced to a new breed of
investors who were to revolutionise what happens to companies in trouble around the
world. The symposium, organised by PricewaterhouseCoopers (PwC), aimed to
acquaint the British bankers with an emerging US style of corporate recovery, led by
distressed debt investors and more actively engaged bondholder committees.
2 In the heady days of the late 1990s, bankruptcy was far from the minds of
most businessmen, not least among the more traditional lenders in Europe. Of course,
soon after, the explosive bursting of the technology bubble was to provide plenty of
candidates for this new approach - with entire industries, such as telecommunications,
in need of financial restructuring. But it was the more recent arrival of hedge funds
and cash-rich private equity firms hi to the European market that would really open
the floodgates to this new style of restructuring.
3 Having seen dramatic and extremely profitable turnarounds in US
industries such as steel, coal and utilities, distressed investors axe deluging European
markets with a flood of money looking for suitably high returns. ‘No doubt about it,
there has been a significant change in the market,’ says Ian Powell, European
business recovery leader for PwC. ‘US funds are in vesting big style in European
recovery situations.’ Their money brings with it both advantages and disadvantages
for companies, but most of all it brings far greater complexity and a very fluid set of
new stakeholders. ‘It used to be just a ease of advising local hanks; now the people
around the table can represent international banks, distressed fluids, bondholders and
pension trustees,’ explains Mr. Powell.
4 The results can be seen all over Europe and much of Asia. Lisa Donahue, a
New York managing director at Alix Partners, the corporate recovery firm, says the
73
new money can bring much-needed liquidity to companies looking to restructure their
debt. While in the past, European companies might have been entirely reliant on a
handful of conservative local banks for help, they can now raise fresh capital in a
variety of different ways.
5 More liquid debt markets are also creating more flexibility for the banks.
Senior lenders are now able to exit at a relatively early stage in a company’s financial
difficulties, meaning the set of faces around the negotiating table can change very
rapidly once a company's credit-worthiness begins to slide. A big challenge for
corporate recovery advisers is to make sure that any new capital structure is as liquid
as possible, allowing investors to trade freely in and out of restructured debt and
equity, rather than finding themselves locked in.
6 But the new faces around the table have also attracted a growing amount of
scepticism from seasoned corporate recovery professionals in Europe. David James, a
crisis manager, is one of many who fear that the US style of restructuring brings more
disadvantages than advantages. ‘It has made exit strategies a lot more complicated, ’
he warns, pointing out that the aggressive new investors are often focused on very
short-term objectives rather than worrying necessarily about the long-term health of
the company.
7 Even within the same firm, differences of opinion are apparent, over this
thorny question. Mr. Powell at PwC in London is relatively upbeat about the benefits
of increased liquidity and tradable debt instruments. ‘It is positive in the short term,
as there is so much cash entering the market,’ he says. ‘How long that window is
going to stay open is more difficult to assess.’ But across the Atlantic. Paul Kirk, who
heads PwC’s business-recovery practice globally, stresses the other side of the coin. ‘
Yes, they have added liquidity to the market, but the trading in and out of debt means
the goals of the stakeholders are not aligned, and so doing, a successful work-out is
much more difficult,’ he says.
8‘The US system focuses on keeping the company alive, the rest of the world
focuses on keeping the business alive and recognises when a company has no future,’
says Mr. Kirk. Slowly though, the influx of US investors and turnaround specialists is
changing the character of European business recovery. ‘The mindset change is pretty
fundamental,’ says Mr. Powell. ‘The US approach looks at valuations, in Europe and
the UK the emphasis has been, on cashflow and the ability to service debt, but that is
changing.’
III. Read the article and match these headings with the correct paragraph,
translate them into Ukrainian/ Russian.
a)
Comparing approaches to business recovery.
b)
Same company, two different expert opinions.
c)
An expert’s warning about the US approach.
d)
British bankers introduced to a new system.
e)
Advantages of the US system for big lenders.
f)
How the US system helps companies in debt.
g)
US distress funds investing in Europe.
h)
Changing times brings a need for financial restructuring.
74
IV. Read paragraphs 1 and 2 and match the two parts the financial terms.
1.
distressed
a. funds
2.
bondholder
b. equity
3.
financial
c. restructuring
4.
hedge
d. debt
5.
private
e. committee
V. Choose the correct explanation for each term from the previous exercise, give
their Ukrainian/ Russian equivalents.
a)
capital investments made in private companies that are not quoted on a stock
market
b)
finance used to buy the bonds of companies that have filed for bankruptcy or
appear likely to
c)
making an agreement with lenders to pay debts in a different way to the one
agreed originally
d)
money usually used-by a small group of rich private investors and institutions
to make investments that can often be high risk
e)
group of lenders that has certificates of debt (usually interest bearing) which
have been issued by a company to raise money
VI. Read paragraph 3 and find words and expressions which have a similar
meaning to the following.
a)
change in a company's performance from bad to a very good one
b)
sending a lot of something at the same time
c)
a large amount
d) likely to change quickly or often
e) people considered to be important to an organisation
f) people that have legal control over someone else’s money and the power to invest
it
VII. Read paragraph 4. Which of these points does Lisa Donahue NOT make?
New money from US distress funds makes it easier for companies in financial
difficulty to...
 pay employees and suppliers and make interest payments to banks.
 negotiate with a small number of traditional banks.

find new sources of finance
VIII. Read paragraph 5. Choose the correct meaning for the expressions in
italics in the context of the article, translate the sentences.
a) More liquid debt markets are also creating more flexibility for the banks
 free-flowing
 easily converted into cash
 smooth movement
75
b) Senior lenders are now able to exit at a relatively early stage
 leave the negotiations
 sell their stake in a company
 close down a firm
c) …. once a company;s credit-worthiness begins to slide.
 It becomes difficult for a firm to pay loans on time.
 A company starts to ask for bigger loans to pay debts.
 A firm's share price begins to decrease over a long period.
d) ... rather than finding themselves locked in.
 There are some legal restrictions on ending a contract
 They are morally obliged to financially support a failing company.
 They have gained something and are certain to keep it.
IX. Read paragraphs 6,7 and 8. Who makes the following points about the new
style of corporate recovery? David James (DJ), Ian Powell (IP) or Paul Kirk
(PK)? Who seems most in favour of the new style? Translate the statements.
a) The US style of restructuring makes it more difficult to close a company.
b) A distressed-debt investor may not be interested in helping the company
recover in the long term.
c) It's good that there is more capital available to help companies.
d) It's not easy to predict if this finance will be available in the future,
e) Planning a strategy for a company will be harder because the stake holders’
aims are not always the same.
f) The US system tries to help a company survive.
g) The European system is becoming influenced by the US system.
IX. Roleplay the dialogue discussing the following statement and answering the
questions.
 The US system emphasises keeping a company alive. What are some of
the arguments for and against this approach? What were the causes of
the financial problems and what is the company doing about the
situation?
X. Practise consecutive / simultaneous translation of the dialogue.
XI. Present your translation-oriented analysis of the article FLOODGATES
OPEN TO A NEW STYLE using the prompts given in UNIT 1.
XII. Give the sight translation (Ukrainian-English, English-Ukrainian) of the
articles.
Corporate Recovery
Head of Team
Richard Drinkwater
Partner
76
Whether you are a director turning around a struggling business or a creditor seeking
a return from a failed company, our corporate recovery and insolvency solicitors will
identify and execute the best solution for you.
Our Corporate Recovery team understand the uncertainty and pressures you face
when you or your company are in financial distress. We will work with you, discuss
your options and objectives and develop a strategy to resolve the problem as quickly
and painlessly as possible.
We offer a personal and partner-led service and our experts advise on all formal and
informal insolvency procedures including:
 administrations
 receiverships
 liquidations
 company voluntary arrangements (CVAs)
 restructuring and refinancing
 creditors’ rights on insolvency
 claims against directors
 directors’ disqualification
 landlords’ rights on insolvency
 bankruptcy
 individual voluntary arrangements
Our emphasis is on rescue, recovery and renewal. Whether through restructuring or
using the one of the formal insolvency processes we will negotiate hard and help you
try to save your business.
Our team also advise administrators, receivers, liquidators and insolvency
practitioners to help ensure the smooth disposal of assets and minimise job losses and
disruption to businesses that are going through the insolvency process.
Стратегія відновлення для кризових ситуацій
Стратегію відновлення використовують у тому випадку, коли напрям
діяльності, який треба зберегти й розвивати, перебуває в кризовому положенні;
метою є якнайшвидше виявити й ліквідувати джерела конкурентної й
фінансової слабкості фірми. Першим завданням менеджменту є діагностика
причин незадовільного функціонування фірми. Найпоширеніші причини
виникнення кризових ситуацій:

занадто великий розмір боргу;

переоцінка перспектив зростання продажів;

ігнорування негативного впливу на прибуток агресивних спроб «купити»
частку ринку за рахунок значного зниження цін;

високий рівень постійних витрат через нездатність раціонально
використовувати виробничі потужності;

ставка на технологічний прорив у довгостроковій перспективі (через
тривалий період часу);

ставка на дослідження й розробки (великі вкладення) для зміцнення
конкурентної позиції й прибутковості й невдача в розробці ефективних нових
77
товарів;

часта зміна стратегій (тому що попередні стратегії не працюють);

поступка конкурентних переваг більш удачливим суперникам.
Вирішення цих проблем і успішне відновлення бізнесу можливе за рахунок:
 перегляду поточної стратегії;
 вживання заходів для збільшення доходів;
 послідовного зниження витрат;
 продажу частини активів, щоб збільшити наявні кошти для збереження
частини бізнесу, що залишилася;
 використання комбінації цих дій.
UNIT 5
FINANCE AND BANKING
TRANSLATION
I. Listen to the information.
 What are the primary life assets? What are the primary assets for you?
 What are the financial assets? Have you got any?
II. Give the summary in Ukrainian/ Russian.
III. Listen to the man’s complaint.
 What does he complain about?
 Sum up the main ideas in Ukrainian/ Russian, comment on them.
UNIT 6
NEW VENTURE
PRESENTATION
I. Read the BRIEF, answer the following questions and translate the collocations
in bold using the context and the information given below.
1.
Is there any blueprint for becoming a successful entrepreneur?
2.
What hallmarks are necessary for any entrepreneur to succeed?
3.
What is essential for any entrepreneurial venture? What is considered one of
their biggest headaches?
4.
Where can businesses raise finance from?
5.
Is it important to build an entrepreneurial team?
6.
What can be the advantages of entrepreneurial competitors in a rapidly
changing world?
7.
What is meant by critical success factors? What are they?
8.
What are the main factors of the company’s survival? What should be
considered next?
78
BRIEF
Many people are attracted to the idea of running their own business. However, there
is no blueprint for becoming a successful entrepreneur, and the reality is that more
than half of all start-ups in the UK alone go out of business within the first 12
months. While the fundamental principles of starting a business are not complex, in
practice there are many pitfalls on the path to success.
The hallmark of any entrepreneur is a drive and determination to succeed. Yet the
founder of a business can ruin it if he or she lacks ability to think quickly and make
good judgements. The commercial acumen is often only arrived at through years of
experience and, very often, by learning the hard way.
Every entrepreneurial venture needs to have the fundamentals in place: a superior
product or service that has been rigorously tested; extensive market research, an
efficient supply chain, a motivated team and adequate funding are the basics
without which no business can survive for long.
Entrepreneurs also need a receptive business environment. Many small and
medium-sized business (SME) owners complain that government red tape is one of
their biggest headaches, Bank financing is often expensive, and banks and other
financial institutions are generally risk-averse. Businesses can sometimes raise
finance from venture capitalists. These range from business angels to very large
venture capital institutions, often specialising in particular fields such as
biotechnology.
Another vital ingredient is skilful team-building. An entrepreneur may be
personally capable of doing some tasks, such as finding clients or potential backers.
But it is rare for one person to be able to carry out all of the tasks that are essential for
success. It is possible to build an entrepreneurial team by hiring top talent, but this is
usually unaffordable for a cash-starved start-up. Another approach is to hire
younger, energetic workers and trust their vitality and commitment to overcome the
inevitable hurdles. However, financiers are generally more reluctant to back a
management team of enthusiastic novices.
In a rapidly changing world, change creates new niches that large corporations are
often slow to exploit. Entrepreneurial competitors can move more quickly on ideas.
The pace of innovation is increasing, with more new ideas coming on to the market
more quickly than ever before. Those companies that start up on the back of
successful product or process innovation are sooner or later faced with the problem
of how to maintain the advantage that innovation has given them.
A few critical success factors (CSFs) tend to account for much of the difference in
performance from one company to another within an industry. The essential
questions are: Which decisions or activities are the ones that, if carried out wrong,
will have crippling effects on company performance? Second, which decisions or
activities, done right, will have a disproportionately positive effect on performance?
In retailing, for example, industry veterans have said that the CSFs are location,
location and location. Retailers in top locations can get many things wrong and still
perform very well. But those in poor locations, however many things they do right,
will probably struggle to survive.
79
Businesses that do survive the first two years have probably survived because they
have built up a good customer base, are adequately funded and have a strong
management team. The first objective, survival, has been met. This is a good time for
the founder entrepreneurs to consider explicitly what the goals of the business are and
how it needs to be expanded. Do they plan to go into partnership with a rival
company, float the company on the stock exchange or do they wish to keep it private?
However quickly the company grows and whatever new form it takes, expansion
inevitably means a change in culture. No one feels this cultural change more than the
entrepreneurs who founded the business.
Extra info
Commercial Acumen is the ability to view situations from a commercial or business
perspective. It's about knowing your market & your customers and what they want
and need & how they work. Knowing what your competitors are up to; mainly so the
connection between what we 'could do' and what we 'should do' become clear.
The term strong commercial acumen is an attribute you will commonly see listed in
job ads. An alternative term you'll see in job ads, which means the same thing, is
'business acumen'.
Typically an employer will need this attribute in job candidates where they have a
responsibility to manage money or budgets, do buying, selling or negotiating where
there is a financial impact on the organisation and/or its clients.
Basically to have financial or business acumen means you will understand financial
concepts such as profit and loss, cash flow, profit and loss, income and expenditure,
gross and net margin and so on. To have business acumen also means that because of
your knowledge of these types of financial concepts you will be in a position to
assess financial risks, and the financial impact of actions that either you might take,
or, if you are in a leadership position, the financial impact of the actions of people for
whom you are responsible. When this is a required attribute, employers will probably
want to see evidence of your track record which demonstrates financial acumen.
Business Angels The term 'business angel' was used in the theatre when financial
backers invested in a theatrical production and contributed their skills and contacts to
enhance the success of the show. The same term was used centuries ago by traders
searching the world for merchants. Business Angels began investing in a wide range
of commercial ventures. They are often retired and invest their business skills as well
as their capital into new and developing enterprises.
Team building is a philosophy of job design in which employees are viewed as
members of interdependent teams instead of as individual workers. Team building
refers to a wide range of activities, presented to businesses, schools, sports teams,
religious or nonprofit organizations designed for improving team performance. Team
building is pursued via a variety of practices, and can range from simple bonding
exercises to complex simulations and multi-day team building retreats designed to
develop a team (including group assessment and group-dynamic games), usually
falling somewhere in between. It generally sits within the theory and practice of
organizational development, but can also be applied to sports teams, school groups,
80
and other contexts. Team building is not to be confused with "team recreation" that
consists of activities for teams that are strictly recreational. Team building can also be
seen in day-to-day operations of an organization and team dynamic can be improved
through successful leadership. Team building is an important factor in any
environment, its focus is to specialize in bringing out the best in a team to ensure self
development, positive communication, leadership skills and the ability to work
closely together as a team to problem solve.
Work environments tend to focus on individuals and personal goals, with reward &
recognition singling out the achievements of individual employees. Team building
can also refer to the process of selecting or creating a team from scratch.
II. Match the following English and Ukrainian collocations:
1.
blueprint
a)
виходити з бізнесу
2.
entrepreneur
b)
діяльність компанії
3.
start-up
c)
дослідження ринку
4.
go out of business
d)
достатнє фінансування
5.
pitfalls
e)
з недостатнім фінансуванням
6.
hallmark
f)
засновник
7.
drive
g)
керівництво компанії
8.
determination
h)
клієнтурна база
9.
founder
i)
ключові фактори досягнення
успіху
10. commercial acumen
j)
кмітливість; гострота розуму у
бізнесі
11. venture
k)
ланка постачання
12. market research
l)
малий і середній бізнес
13. supply chain
m) мотивований колектив
14. motivated team
n)
несхильний до ризику
15. adequate funding
o)
нове підприємство
16. small and medium-sized business p)
новітні розробки, нововведення
(SME)
17. red tape
q)
ознака; критерій
18. risk-averse
r)
отримати кошти, забезпечити
фінансування
19. raise finance
s)
підприємець - меценат
20. venture capitalists
t)
підприємець, який іде на ризик,
створюючи нове підприємство
21. business angel
u)
підприємець;
власник
підприємства
22. team-building
v)
підприємство, фірма
23. backer
w) план, проект, програма
24. top talent
x)
прагнення, енергія, внутрішній
імпульс
81
25.
26.
27.
28.
29.
30.
cash-starved
management team
niche
innovation
critical success factors
company performance
31.
customer base
y)
ринкова ніша
z)
рішучість
aa) спонсор
bb) створення єдиної команди
cc) талановитий працівник
dd) труднощі; небезпека; пастка;
помилка
ee) тяганина,
зволікання;
бюрократія
UNIT 6
NEW VENTURES
TRANSLATION AND INTERPRETATION
PART I
TECHNOLOGICAL INNOVATION
I. Before you read, answer the question:
 What are some of the challenges of setting up your own business?
II. Reading
Read this article and fulfill the tasks below.
TECHNOLOGY THAT PUT A SHINE ON A GROWING BUSINESS
1 Three years ago, a young entrepreneur in Leeds risked everything he had to
make his business a success. Andrew Ainge's print-technology company, MetalFX,
now expects annual revenues in excess of Ј10m over the next two years. His route to
success took him as far afield as China and led him to adopt an innovative
technology-licensing model that minimises the operation's overheads while
maximising its profits.
2 The technology in question is a new method of printing metallic colours. The
system has changed the industry's approach to the use of metallic inks, and the visual
results- on brochures, packaging, annual reports and so on – have been stunning.
Printers use the CMYK system (combinations of cyan, magenta, yellow and black
ink) to create coloured images and text. To print metallic colours, a fifth ink is
required. Mr Ainge developed a new kind of ink that enabled the printing of 104
million metallic colours in the same run on a five-colour press. The system allowed
millions of metallic colours to be created at once.
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3 Once the process was tested and proven, Mr. Ainge’s first challenge was to
convince a global audience of both printers and designers of its benefits. The second
was how to maximise revenues. His answer was a strategy that combined innovative
marketing of the technology with exploitation of the intellectual property behind the
idea. Mr. Ainge already ran a design and pre-press agency, so it would have been
easy for him to buy a printing press and offer the technique locally. He foresaw,
however, that a much more lucrative strategy would he to license the technology to
other printers on a global scale. By late 2002, the product was ready, hut there was a
problem: Mr Ainge’s financial resources were exhausted.
4 By this stage, he had not only built up considerable debts and mortgaged his
house, he had even cashed in his pension. He decided to stake everything on a
forthcoming print industry exhibition in Shanghai, China. Borrowing $5,500 from a
close friend, he bought tickets for himself and his technology manager. ‘Then the
frenzy started,’ he recalls. in only three days, Mr. Ainge had collected more than
£250,000 in orders for licences. Mr. Ainge made access to his technology a carefully
controlled process. First, he licensed the rights to manufacture the ink to several of
the industry's biggest participants, including Wolstenholme International, a UK
printing-ink company. Next, he made sure that designers and printers also gained
access to the technology through a software licence that allows them to specify
exactly which MetalFX colour they want.
5 Finally, MetalFX put together a sophisticated website, enabling printers
around the world to go online and buy a licence. Designers, too, could search the
global directory of MetalFX printers to find one closest to them. ‘Because the search
engine lists all suppliers worldwide, it has created a unique print sector alliance,’ Mr.
Ainge says. ‘MetalFX printer can find a MetalFX designer in their area, or a brand
owner can source suppliers to create and print some packaging.’ Although the
company employs only nine staff at its Leeds offices, the site gives it an army of
20,000 people around the world who promote MetalFX.
6 Pricing was another issue. MetalFX now licenses its technology for the same
price £1,750 - around the world. The single global price simplifies the licensing
process, particularly for a company that sells online and has thousands of distributor
and brand owners. Printers who want to buy a licence also have to pass a qualitycontrol test. The marketing strategy has paid dividends, and Mr Ainge claims that the
business now enjoys a 92-per-cent profit margin, as well as a worldwide export
facility in a market for metallic print worth £100m.
7 He is also branching out in an unexpected direction. Once the technology
began to be used to create eye-catching and colourful brochures, posters, packaging
and publications, it caught the attention of another group – artists. In response, Mr.
Ainge set up an art gallery in Ilkley, West Yorkshire, and allowed artists using
MetalFX inks to show their work for free.
8 Much of the company's success is down to its efficiency in reaching overseas
buyers. At Yorkshire Forward, the regional development agency, Adam Pritchard,
head of investment, is well aware of the vital importance of export activity: ‘If a
business as small as MetalFX can sell to more than 120 countries using innovative
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ideas, key trade shows and the power of the Internet - then, frankly, anything is
possible.’
III. Read the whole article and complete this summary with suitable words and
expressions from the box, translate it into Ukrainian/ Russian. One is not used.
big break
single price
intellectual property
technology manager
printing-ink
licences
overheads
founder
nine staff
three days
trade exhibition
A business model that caught the eye
Andrew Ainge, a) ............ of MetalFX, a company that licenses technology to print
metallic colours for brochures, reports and other publications, had his b) ....... after
travelling to a c) ........... in China.
Borrowing money from a friend to attend the event with the company's d) ............. he
found a ready demand among Chinese printers, raising £250,000 in orders for
licences in e) .............. The company employs only f) ............ and minimises
overheads by virtue of a business model that relies on arms-length exploitation of its
g) ..........
Mr. Ainge licenses production of his metallic ink to Wolstenholme International, a
UK h) ............ company.
Printers around the world then buy licences to use the ink in the printing process, as
well as for software that controls the graphic-design process.
For simplicity’s sake, Mr. Ainge charges a i) ............ of £1,750 for licences, wherever
the purchaser’s market. j) ............ are typically bought through the company website.
IV. Read paragraphs 1 and 2, say whether these statements are true or false,
translate them.
a)
Andrew Ainge is a young businessman whose company wasn’t successful in
his hometown of Leeds, but became extremely successful in Asian countries.
b)
MetalFX is a printing-ink company that uses innovative technology and
licenses the product so as to reduce the company’s overheads and make maximum
profits.
c)
The technology has revolutionised the process of printing metallic inks,
although the method needs further development.
d) Cyan and magenta are two of the colours used in theCMYK printing system.
e) Using Mr Ainge’s new system, various metallic colours can be printed
simultaneously.
V. Read paragraph 3 and match the adjectives (1-5) with the nouns (a-e).
1.
innovative
a) scale
2.
intellectual
b) resources
3.
lucrative
c) property
4.
global
d) marketing
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5.
exhausted
e) strategy
VI. Read paragraph 4 and choose the best meaning for the words and
expressions in italics in the contest of the article, give their Ukrainian/ Russian
equivalents.
a) he had not only built up considerable debts…
 prepared for a particular moment or event
 accumulated
 paid back
b) … he had even cashed in his pension.
 exchanged for money
 profited from a situation that others considered unfair
 invested in
c) he decided to stake everything on...
 take a big risk
 invest in
 acquire shares in a company
d) Then the frenzy started...
 difficulties or challenges
 time when people do a lot of things quickly
 great anxiety or excitement in which you cannot control your behaviour
e) First, he licensed the rights...
 partially sold
 received permission to make something using a patent
 let someone make something using his patent
f) printers also gained access to the technology...
 managed to enter
 gradually want more of
 obtained or achieved
VII. Match these words or expressions from paragraphs 5 and 6 (1-5) with their
definitions (a-e).
1.
2.
3.
alliance
brand owner
source
4.
pay
dividends
5.
profit margin
a) be very useful or bring advantages
b) an agreement between organisations to work together
c) difference between the cost of producing all of a
company’s products and the total sum they are sold for
d) obtain materials, parts, etc. from a particular place
e) individual or company that exclusively produces a
recognisable product
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VIII. Read paragraphs 7 and 8 and find expressions that mean the same as the
following.
a.
expanding and diversifying
b.
noticeably unusual or attractive
c.
attracted
d.
due to
e.
customers who are purchasing from abroad
IX. Roleplay the dialogue discussing the following statement and answering the
question.
The biggest mistake people make in life is not making a living at doing what they
most enjoy.
Malcolm S. Forbes (1919-1990), US publisher and editor Do you agree with the
quote? Why (not)?
What risks would you or wouldn't you be prepared to take in order to ensure the
success of your business?
X. Practise consecutive / simultaneous translation of the dialogue.
XI. Present your translation-oriented analysis of the article TECHNOLOGY
THAT PUT A SHINE ON A GROWING BUSINESS using the prompts given in
UNIT 1.
XII. Give the sight translation (Ukrainian-English, English-Ukrainian) of the
articles.
10 Ways to Grow Your Business
When you first started your business, you probably did a lot of research. You
may have sought help from advisors; you may have gotten information from books,
magazines and other readily available sources. You invested a lot-in terms of money,
time and sweat equity-to get your business off the ground. So...now what?
For those of you who have survived startup and built successful businesses,
you may be wondering how to take the next step and grow your business beyond its
current status. There are numerous possibilities, 10 of which we'll outline here.
Choosing the proper one (or ones) for your business will depend on the type of
business you own, your available resources, and how much money, time and sweat
equity you're willing to invest all over again.
1. Open another location. Make sure you're maintaining a consistent bottom-line
profit and that you've shown steady growth over the past few years. Look at the
trends, both economic and consumer, for indications on your company's staying
power. Make sure your administrative systems and management team are
extraordinary-you'll need them to get a new location up and running. Prepare a
complete business plan for a new location. Determine where and how you'll obtain
financing. Choose your location based on what's best for your business, not your
wallet.
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2. Offer your business as a franchise or business opportunity. Networking within the
franchise community become a member of the International Franchise Association
and find a good franchise attorney as well as a mentor who's been through the
franchise process.
3. License your product. This can be an effective, low-cost growth medium,
particularly if you have a service product or branded product. Licensing also
minimizes your risk and is low cost in comparison to the price of starting your own
company to produce and sell your brand or product.
4. Form an alliance. Aligning yourself with a similar type of business can be a
powerful way to expand quickly.
5. Diversify. Sell complementary products or services, teach adult education or other
types of classes, import or export yours or others' products, become a paid speaker or
columnist.
6. Target other markets. Your current market is serving you well. Are there others?
7. Win a government contract. The best way for a small business to grow is to have
the federal government as a customer.
8. Merge with or acquire another business.
9. Expand globally. But you don't need to acquire another business to expand
globally. You just need to prime your offering for an international market. You'll also
need a foreign distributor who'll carry an inventory of your product and resell it in
their domestic markets.
10. Expand to the Internet. Landing your Web site in search engine results is keymore than 80 percent of traffic comes via search engines. Design and programming
are also important, but it’s your content that will draw a visitor into your site and get
them to stay.
Як розпочати власний бізнес?
Для того, щоб почати власний бізнес, потрібно всього дві речі - бажання і
ідея. Без бажання у вас нічого не вийде, а без хорошої ідеї бізнес просто не буде
ефективним.
Якщо на рахунок бажання говорити багато не треба - воно або є, або
немає, то на рахунок ідеї поговорити можна, і багато. Де беруться ідеї? Є
декілька джерел для ідей.
Ви можете виявитися людиною творчою, з хорошою уявою і діловою
хваткою, і бізнес-ідея просто сама може спасти вам на думку. Це чудово.
Звичайно люди, яким спадають на думку ідеї відразу ж знаходять, яким чином
застосувати ці ідеї в житті.
Є спосіб простіший, менш творчий. Скористатися чиєюсь бізнес ідеєю.
Багато людей до вас вже придумали щось, що працює. У них є певний досвід у
певному бізнесі. Чом би не узяти ідею у них? Для цього є спеціальні книжки. А
Інтернет просто повний сайтів, де можна знайти ідеї.
За ідеєю можна не ходити далеко. Можна узяти бізнес-ідею людини, на
кого ви працюєте. Тут є дві переваги : по-перше, є вже готова бізнес-ідея, яка
87
працює; по-друге - у вас вже є досвід в даному виді бізнесу, а досвід допоможе
уникнути багатьох підводних каменів.
Наприклад, один мій друг працював на будівництві. Він витратив три
роки, вивчаючи різні професії. Звичайно, професіоналом він не став, але мав
уявлення про багато будівельних професій. І замість того, щоб далі
продовжувати працювати на господаря, він відкрив свій власний бізнес. Він
найняв людей, а одержаний досвід дозволив найняти йому професіоналів, і
почав пропонувати свої будівельні послуги. У нашій країні був тоді підйом
економіки, і люди активно будувалися. Ось він і створив свою будівельну
фірму, яка зараз процвітає.
За ідеєю бігати далеко не треба. Часто ідея знаходитися зовсім поряд.
Потрібно тільки розплющити очі, щоб її побачити. Звичайно, не всі здатні
займатися бізнесом, але якщо ви ще не спробували, то може все-таки варто?
UNIT 6
NEW VENTURES
TRANSLATION AND INTERPRETATION
PART II
INCREASING MARKET SHARE
I. Before you read, answer the question:
 What important factors do you think may help a business make the
transition from ‘small’ to ‘big’?
II. Reading
Read this article and answer the questions.
ASSOLAN'S BABIES BATTLE FOR MARKET SHARE
1 Defying the laws of gravity is not usually something to attempt everyday. But
that is how Nelson Mello describes his business model. The Brazilian entrepreneur
has launched a succession of products in markets commanded by one or two
seemingly unassailable leaders, thanks to a combination of astute strategy and
changing market conditions in Brazil.
2 Mr. Mello and his team began selling tomato products in a market dominated
by Unilever. By 2000 one of their products had become a market leader. In 1988 they
launched a stock cube to compete with established products, gaining 20 per cent of
the market. Other successes include a fruit-flavoured drink that gained a 32-per-cent
share against Kraft’s Tang, and a mayonnaise that won 19 per cent of a market
dominated by the mighty Hellmann’s. Then, in 2001, Mr. Mello was brought in to
head up Assolan, a maker of steel-wool scourers. The giant in the sector was
88
Bombril, with 89 per cent of the market. True to form, Assolan’s market share rose
from 10 per cent to almost 27 per cent in four years.
3 How did Mr. Mello do it? He and his team developed their strategies at Arisco,
a foods company that is now case history in Brazilian corporate culture. In 1973,
Arisco was a small business in Goiania, deep in Brazil’s interior. Its owners –
through their holding company Monte Cristalina -set about making it Brazil’s first
industrialised condiment company with nationwide distribution. Mr. Mello joined in
1978. Twenty years later, Arisco had more than 400 products and had acquired
Assolan. In 2000 Monte Cristalina sold Arisco to Best Foods, and when Best Foods
was bought by Unilever, Mr. Mello remained head of the Arisco foods portfolio. Yet
Assolan languished, and a year later Unilever put it up for sale. The buyer was Monte
Cristalina, which bought its old brand and re-hired its old managers.
4 Arisco’s success in grabbing market shave derives partly from two
characteristics of the Brazilian market. First, the course of industrialisation from the
1950s led to each market being dominated by a small number of brands. In the late
1990s, however, conditions began changing. Second, Arisco launched its new brands
when Brazilian consumers were becoming aware of a widening choice of products.
To exploit these factors, Mr. Mello and his team developed what he calls the ‘four
pillars of success’: product, distribution, communications and people.
5 The basic product - the Assolan steel-wool sponge is barely distinguishable
from competitors. Its sales force is also largely ex-Arisen, and distribution is built on
the Arisco model, using four logistics contractors, 52 distributors with 2,l00 sales
representatives. The fact that Assolan products are still made in central Brazil helps
greatly with distribution.
6 Yet Mr. Mello concedes that Assolan owes much of its success to its
marketing nous. ‘We set out our strategy based on a seven-year plan,’ he says. ‘We
spend a disproportionate amount on communications at the start. That’s the bet:
spend much more than normal at the start to reach your targets more quickly.’ If the
amounts are unusual - about $10m, $12m and $12m in the past three years - the way
they are spent is even more so. For the first year, Assolan used no advertising agency.
Instead, Mr. Mello met the presenters of ‘auditorium’ shows that air daily on
Brazilian television.
7 Product endorsements on the shows are routine.Mr. Mello told presenters that
they could improvise at the start and end, but the central message was to be learned
by heart. The most powerful opinion formers in Brazil told their admirers about a
wonderful steel wool called Assolan. ‘We had got across the very simple message
that there was a wire wool that was not Bombril,’ Mr. Mello says. Next, he hired
Nizan Guanaes, a star of Brazilian advertising. ‘We set two rules,’ Mr. Mello says.
‘One, never mention our competitor. Two, never create expectations beyond what
we’re selling.’
8 Assolan’s advertisements make virtually no claims about the product. Instead
they play on changes in Brazilian society, promoting the idea that Assolan is part of a
new wave of consumer choice. Bombril is never mentioned, though a version this
year notes that nowadays ‘... letters are by e-mail, cameras are digital, and wire wool
is Assolan’. ‘We don't mention the competitor, but we make him look old,’ says Mr.
89
Mello. Other advertisements feature Assolan babies with steel-wool wigs. ‘Ads have
to create sympathy for the product,’ says Mr. Mello. Assolan is now launching a
range of cleaning products. ‘Cleaning is a lot like cooking: there is an emotional
element to caring for the family’s health,’ Mr. Mello says. Brand managers of
household cleaners would do well to take note.
III. Read the whole article and tick those factors that helped make the Assolan
steel-wool sponge a success.
a)
The application of the Internet and new technologies
b)
An entrepreneurial leader, supported by a good team
c)
Political changes in central Brazil
d)
A change in public awareness of consumer choice
e)
An innovative idea for a brand-new product
f)
A lot of money spent on the launch of the product
g)
Brazilian footballers endorsing the product on television
h)
An emotional element in the advertising campaign
IV. Read paragraphs 1 and 2 and find words or expressions in the text that
mean the following.
a)
doing the impossible
b)
a series of
c)
apparently unbeatable companies
d)
clever and able to understand things quickly
e)
obtained of achieved
f)
appointed
g)
manage or lead
h)
typically
V. Make word pairs to form expressions from paragraph 3, translate them.
1.
case
a) distribution
2.
corporate
b) company
3.
condiment
c) culture
4.
nationwide
d) history
VI. Match the verbs (1-4) with the noun phrases (a-d) to form expressions from
paragraph 4, translate them.
1.
grab
a) conditions
2.
change
b) new brands
3.
launch
c) market share
4.
exploit
d) factors
VII. Complete these sentences with suitable expressions from Exercises 3 and 4
in the correct form, translate them into Ukrainian/ Russian. Two of the
expressions are not used.
90
a) In the 1980s, Mr. Mello and his team______ such as a stock cube, to compete
with established products from Knorr and Maggi.
b) Due to the remarkable success of the_______ Arisco is regarded as_____ by
many Brazilian executives.
c) Over the last two decades, Arisco _____the _____ of giants in the industry, such
as Kraft and Hellmann's.
d) One of the factors that greatly helped Arisco sell its steel-wool scourer
was______ as the company is strategically located in central Brazil.
e) ........ ______ in Brazil's economy and industry also played an important part in the
rise of the Assolan steel-wool sponge.
VIII. Read paragraphs 5 and 6 and choose the correct definition of these words
and expressions in italics in the context they are used in the article, give their
Ukrainian/ Russian equivalents.
a) ... barely distinguishable from competitors.
 not very different from
 easily differentiated from
 not very successful compared to
b) Yet Mr Mello concedes...
 is of the opinion
 admits something is true
 gives up
c) ... owes much of its success to its marketing nous.
 team spirit
 innovations
 know-how or ability
d) We spend a disproportionate amount…
 relatively large
 exceedingly large
 fairly minor
e) That's the bet…
 decision to risk money
 justified expense
 an action or situation that is likely to be successful
IX. Choose the correct summary of paragraphs 7 and 8, translate it into
Ukrainian/ Russian.
A) Nelson Mello told TV presenters to endorse the product by improvising a little but
reciting the key message from memory: namely, that Assolan was a fantastic steelwool scourer. As part of the advertising campaign, presenters could not mention the
name of Assolan's competitor or create false expectations of the product. The adverts
promoted the idea of change in Brazilian society and the fact that consumers do not
have to use the same old brands any more. Another characteristic of Assolan's
91
marketing strategy was playing on people's emotions, such as the use of cute babies
in the advertisements.
B) Nelson Mello told TV celebrities to endorse the wire wool by communicating the
key message that Assolan wasn’t the only steel-wool sponge on the market. As part
of the advertising strategy, presenters could not mention the name of Bombril or
create sympathy for the competitor’s product. In addition, the advertising promoted
the idea of change amongst Brazilian consumers, as well as awareness of the fact that
Assolan was launching a new range of cleaning products. Another characteristic of
Assolan’s marketing was the emotional element, such as the use of babies wearing
steel-wool wigs in the advertisements.
X. Roleplay the dialogue fulfilling the task:
 Think of three food companies whose brands dominate the market in your
country. What brands are they? Use the Internet to help you answer these
questions:
 How long have they been established leaders?
 What has been the key to their market dominance?
 What kind of marketing and advertising do they employ ?
 Are there any newcomers in the sector?
XI. Practise consecutive / simultaneous translation of the dialogue.
XII. Present your translation-oriented analysis of the article ASSOLAN'S
BABIES BATTLE FOR MARKET SHARE using the prompts given in UNIT 1.
XIII. Give the sight translation (Ukrainian-English, English-Ukrainian) of the
articles.
Top 7 Ways to Motivate Your Team
1. Involve them. Many employees want to be involved in the ongoing development
and progress of their company. Plus, they often have insightful ideas that can make a
significant difference in the company.
2. Communicate. A frequent axiom in business is, "No news is good news."
However, employees want regular updates on the progress of the business and their
personal performance. Use memos, email, telephone, and one-on-one and group
meetings to keep your team apprised of changes, updates, new products, etc.
3. Celebrate individual and team performance. Catch people doing something right
and focus on recognizing excellent performance. Provide positive reinforcement,
issue awards, use a corporate newsletter to highlight specific achievements. Send
thank-you cards and congratulatory notes, make phone calls, and send emails.
4. Set challenging goals. My experience has taught me that people strive to achieve
what is expected of them. If you set challenging goals your team will work hard to
accomplish them, providing of course, they are realistically attainable.
92
5. Give them the tools to succeed. No team will stay motivated if they do not have the
necessary tools required to do their job. This includes; equipment, internal support,
inventory, marketing materials, training, etc.
6. Manage poor performance. Your team expects you to manage individuals who do
not perform to standard. However, many managers ignore these situations because
they are afraid to deal with them, hoping instead that the situation will resolve itself.
It never does and this "blind" approach affects profitability, causes higher turnover,
and generates low morale.
7. Believe in your people. The majority of people want to do well - very few
individuals approach a job with the intent of screwing up. Yet, many managers run
their business thinking that employees must be treated with a "watchdog" mentality.
They install hidden cameras, monitor email, and set up procedures that require
employees to get multiple approval signatures for decisions.
Nokia хоче завоювати ринок дешевим флагманом.
Американський оператор AT & T 8 квітня розпочне продаж потужного
смартфона Nokia Lumia 900 з підтримкою LTE-мереж. Вартість новинки разом
з обов'язковим дворічним контрактом на зв'язок складе всього близько 100
доларів. Про це представники AT & T повідомили IT-виданню CNET.
На успіх Lumia 900 покладають надії всі партнери Nokia. Сама компанія
за допомогою новинки розраховує повернутися на мобільній ринок США, де
раніше займала домінуючі позиції. У свою чергу, Microsoft сподівається, що
флагман стане плацдармом для подальшого проникнення WP-смартфонів на
американський ринок.
У AT & T очікують, що Lumia 900 допоможе викликати інтерес новим
високошвидкісним 4G-мереж. В той же день, 8 квітня, оператор почне
продавати в США ще один LTE-смартфон на базі Windows Phone - HTC Titan II,
проте такий же сильної фінансової підтримки він не отримає. Ціна на цю
модель з 4,7-дюймовим дисплеєм і 16-мегапіксельною камерою складе 200
доларів (разом з контрактом).
Раніше Nokia випустила для США інший смартфон з модельного ряду
Lumia - 710. Незважаючи на непогані продажі (його розповсюдженням
займається T-Mobile USA, четвертий за величиною оператор в країні),
справжнім бестселером цей доступний 50-доларовий апарат не став, зазначає
CNET.
У Limia 900 є непогані шанси на успіх в США. Новинка має 4,3дюймовий AMOLED-дисплей (800х400 точок), 16 ГБ флеш-пам'яті, 8-мп
камеру з оптикою Carl Zeiss і ємну батарею (1,830 мАч). Інші пристрої з
підтримкою LTE-мереж пропонуються за більш високою ціною - від 150 або
200 доларів. Для порівняння, "смартфонопланшет" Samsung Galaxy Note коштує
300 доларів у AT & T, а флагманські Android-смартфони - наприклад, Motorola
Droid Razr Maxx і Galaxy Nexus - 300 доларів з контрактом Verizon.
(http://newsme.com.ua/ua/tech/technologies/1218319/)
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UNIT 6
NEW VENTURES
TRANSLATION
I. Watch the video and answer the questions.
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What do one need to know about failures starting a business venture?
What are the possible reasons and consequences of possible expectations?
What are the characteristics of business described?
How is the business of Warren Buffett and Donald Trump’s called? Why?
What are the recommendations given?
Extra info
Warren Edward Buffett (born August 30, 1930) is an American business magnate,
investor, and philanthropist. He is widely considered the most successful investor of
the 20th century. He is the primary shareholder, chairman and CEO of Berkshire
Hathaway. He is consistently ranked among the world's wealthiest people. He was
ranked as the world's wealthiest person in 2008 and is the third wealthiest person in
the world as of 2011. In 2012, American magazine Time named Buffett one of the
most influential people in the world.
Donald John Trump, Sr. (born June 14, 1946) is an American business magnate,
television personality and author. He is the chairman and president of The Trump
Organization and the founder of Trump Entertainment Resorts. Trump's extravagant
lifestyle, outspoken manner and role on the NBC reality show The Apprentice have
made him a well-known celebrity who was No. 17 on the 2011 Forbes Celebrity 100
list. Trump is the son of Fred Trump, a wealthy New York City real-estate developer.
He worked for his father's firm, Elizabeth Trump & Son, while attending the Wharton
School of the University of Pennsylvania, and in 1968 officially joined the company.
He was given control of the company in 1971 and renamed it The Trump
Organization.
II. Correct the summary of the information in English. Translate it into
Ukrainian/ Russian/.
Best Small Business Idea For 2011: Imagine a small business idea that eliminated all
of the elements that plague traditional small businesses and allowed one to earn a
significant income right away- not wait for months or years to turn a profit like
traditional new small business ventures. This is the virtue of the best small business
idea of 2011 and 2012.
III. Watch the video.
 Why is “thinking too big or too small” dangerous?
 What are the usual consequences of overworking or trying to do everything
yourself?
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 How can you focus on your own goals without worrying about smaller
details?
 Is it important to love your business?
 Why is tracking your advertising necessary?
 What is meant by the advice “don’t put all eggs in one basket”?
 Explain the sentence: “Don’t let other people’s advice overshadow your gut
instincts”.
 Why is it recommended to get involved in the community?
 What can be the consequences of bad relationship between employees and
business owner?
 What is meant by keeping quality relationship?
IV. Give the summary of the information in Ukrainian/ Russian/ English.
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