II. Vocabulary

2.1. Give Russian equivalents for the following terms and expressions all found in the article above.

Clusters of smaller firms; commoditised textiles; private-equity investors; less demanding standards; production of core parts; low-wage countries; profit before interest and tax; brand-marketing executive; product development; a gross trading margin; cutbacks; production capacity; an emergency deal on trade restraint; mid-market clothing brands; lower-cost countries; a growing supply chain; approved European standards; export-oriented manufacturing sectors.

2.2. Give English equivalents (all found in the text above) for the following Russian words and expressions.

Поучительный пример; создание рабочих мест; капиталоемкий бизнес; предприятия малого и среднего бизнеса, ориентированные на экспорт; расширить ассортимент; осуществлять непосредственный контроль; совместное владение предприятием; недостаток инвестиций; станкостроительная компания; узко специализированный рынок; неуклонно перемещаться в высший ценовой сегмент рынка.

2.3. In the text, find terms corresponding to the following definitions.

a) a firm or industry which produces its output of goods or services using proportionately large inputs of capital equipment and relatively small amounts of labour;

b) the difference between the value of a firm's (or industry's) output (i.e. the total revenues received from selling that output) and the cost of the inputs of raw materials, components or services bought in to produce that output;

c) manufacturing of a product aimed at one particular area of the market;

d) series of different products made by the same company which form a group;

e) a business owned jointly by two or more independent firms who continue to function separately in all other respects but pool their resources in a particular line of activity.

2.4. Explain the meanings of the following notions, draw examples to illustrate their usage.

a) small and medium-sized business;

b) globalised economy;

c) high added-value business;

d) to move offshore;

e) effective leadership.

2.5. a) Complete the following collocations as they occur in the text

A	B
1. to create	a) a business
2. to widen	b) jobs
3. to rival	c) the booming markets
4. to go	d) local enterprise
5. to keep	e) upmarket
6. to serve	f) hands-on control of the company's expansion
7. to foster	g) bust
8. to kickstart	h) production to lower-cost countries
9. to shift	i) growth
10. to move	j) the product range

b) translate the above collocations into Russian;

c) make use of them to express the main ideas of the article.

2.6. Complete the sentences below using the following words from the text

to draw; to go; to turn; to fall; to fear; to make; to drain; to grow; to come; to pour

1. The new owners of the Maerklin company faced a daunting task of keeping the brand exclusive at the top end while ..... up with toy trains which will appeal to today,s children.

2. Despite the fact that jobs ..... away to China and other parts of East Asia, small local businesses in Europe can also go global.

3. The famous company ..... pianos to less demanding standards in the Czech Republic, Indonesia and China.

4. Adidas .....out of a small family business.

5. When the partners .....out, one of them set up his own business to rival his brother's.

6. Not to ..... bust, Adidas had to send production offshore to Asia and convert to design and marketing company.

7. After the company was divided into three warring camps, it started suffering from underinvestment and its remaining employees .....for their jobs after several rounds of cutbacks.

8. When the company changed hands, the new owners quickly ..... up plans to widen the product range and to start selling online.

9. When China joined the World Trade Organisation, foreign direct investment ..... into China which helped to build up production capacity for both fabrics and clothes.

10. The famous Italian factory is still ..... out knitting wools, but its output halved and its workforce has fallen steeply.