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8. Explain the meaning of the following phrases:

1. The international dimension of management and business – due mainly to globalization – has become a major challenge to governments, institutions and organizations.

2. When a company is first getting established in a foreign country it must take into account such factors as politics, economics, and culture.

3. There are four primary strategies that are very important for managers of international companies.

4. Managers must learn about operating effectively in an international environment.

5. In today's market, if you want an intensive and demanding management education experience with a distinctive international business flavour, you will need to study a Master's Program in International Management with Finance.

9. Translate into English:

1. Менеджмент – це процес планування, організації, мотивації та контролю.

2. Менеджери транснаціональних корпорацій повинні знати закони, звичаї та мову країни, в якій вони працюють.

3. Фірми, які планують займатися міжнародним бізнесом, перш за все повинні оцінити політичну ситуацію в іноземній країні та ставлення уряду цієї країни до бізнесу.

4. Головний ресурс компанії – її працівники.

5. Для транснаціональної компанії дуже важливо обрати правильну стратегію для роботи на арені міжнародного бізнесу.

6. Кожна транснаціональна компанія повинна вміти мати справу з іноземними моделями економічного зросту, інвестування та інфляцій.

10. Write several paragraphs on the topics suggested using the vocabulary. Make use of the following expressions:

In my opinion (view); to my mind; to my way of thinking; I’m convinced that; it is my firm belief that; it seems to me that; as far as I am concerned; it is popularly believed that; people often claim that; contrary to popular belief; regardless of the fact that; in other words; to put it another way:

- international management:

to be the first consideration of, Multinational Corporation, to utilize, to expand, to assess, inherent in, cooperation, strategies, business environment;

- globalization:

strategy, development, worldwide, union, holding, to hire, international business arena, business environment, Multinational Corporation.

11. Answer the following questions:

1. What does the notion "International management" mean?

2. What do managers operating in an international environment deal with?

3. What does a company operating in an international environment have to learn?

4. How many strategies are involved in international management? What are they?

5. What must do firms that wish to expand into a foreign country?

6. Can you give an example of the nationalization of companies in some countries? What was the result of it?

III. Oral practice

1. Imagine you are socializing with a specialist in the field of the international management. Put the next questions. Listen to his answers and try to analyze your own options. Work in pairs.

1. Why is the hiring program so important for any Multinational Corporation?

2. What are the basic management functions?

3. Is there a single way for international managers to enter a foreign market?

4. Are sociocultural elements important to the international manager?

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