Lesson 1

Task 1. Complete the text with the words in the box.

1. dealers	5.successful strategy	9.Federal government	13.salary reductions	17. better quality
2. this challenge	6. accepted an offer	10. production-oriented company	14. automobile industry	18. was fired
3. liked to design	7. paying back	11. key suppliers	15. they wanted	19. transformations
4. good exchange relationships	8. bankruptcy	12.highly profitable	16. rapidly	20. profitable

Lee a. Iacocca of Chrysler Corporation

Lee A. Iacocca began his career in the ( 1 ) in 1946 with Ford Motor Company. Iacocca rose ( 2 ) to the top at Ford and became president in 1970; however, in 1978 he ( 3 ). Iacocca could have received up to $ 1.1 million in deferred bonuses from Ford if he had not gone to work for another automobile company. Instead, he ( 4 ) to be president at the almost bankrupt Chrysler Corporation. In 1978, when Chrysler was close to ( 5 ), Iacocca fac­ed the almost impossible challenge of making the company ( 6 ) again. He immediately responded to ( 7 ) by attempting to transform Chrysler into a marketing oriented firm. Chrysler was still a ( 8 ), and its rationale for existence was superior engineering. Former Chrysler president Townsend said it best, «What this company had in all of its products was more engineer­ing differences that any other products being offered to the American people». Iacocca decided to change his orientation by giving the American car-buying public what ( 9 ) instead of what Chrysler engineers ( 10 ). He began to give them smaller cars with fuel economy, good styling, ( 11 ), low cost maintenance, and lower prices. He also brought back the convertible, which was an instant success, and introduced a minivan geared toward today’s smaller families.

One ( 12 ) that Iacocca introduced at Chrysler was production of several cars from interchangeable parts. Iacocca took two successful K-cars-the Plymouth Reliant and the Dodge Aries — and created the Chrysler LeBaron, Dodge 400, Chrysler B class and Chrysler New Yorker. The cost of these ( 13 ) and other new product development ran about $ 6 to $ 7 billion between 1980 and 1985.

Iacocca also realized that Chrysler needed more than the consumer’s patronage to succeed, so he also developed ( 14 ) with other key public including the ( 15 ). He obtained major wage and ( 16 ) from the United Auto Workers, received $ 1,2 billion in guaranteed government loans, obtained discounts from

( 17 ), and borrowed money from its ( 18 ). Under the direction of Iacocca, Chrysler succeeded not only in becoming ( 19 ), but also in ( 20 ) all of its government-guaranteed loans by early 1984.

Task 2. Match each of the words or phrases on the left to an appropriate definition.

1. Economics	a) the amount of a particular good or service that all consumers would purchase at different prices, at a given moment in time
2. economy	b) the process of using up of goods and services
3. macroeconomics	c) the study of how people use their limited resources to try to satisfy unlimited wants
4. microeconomics	d) a mechanism that allocates scare resources among competing users
5. economic growth	e) the amount of a particular good or service that producers are willing and able to offer for sale at a given price, at a given moment in time
6. inflation	f) the branch of economics that studies the economy as a whole
7. demand	g) the persistent expansion of a country’s production possibilities
8. supply	h) an upward movement in the average level of prices
9. consumption	i) the branch of economics that studies the behaviour of individuals in their role as consumers and/or producers

Task 3. Fill in the blanks using the word combinations given below, translate the letter.

Letter 1.

Dear Sirs,

We have authorized our trade representatives in your country (1)________ providing for the change in (2)________ . The (3)_________ has been signed on the April this year. We (4)_______ at your earliest convenience when the bank guarantee (5)______ . We (6)______ to your early reply.

Truly Yours,

a) to sign an addendum to our contract

b) are looking forward

c) will be submitted

d) urge you to advise

e) original method of payment

f) above mentioned addendum

Letter 2.

Dear Sirs,

We should like to discuss in details (1)_______ during our negotiations. The exact date, time and (2)_______ will be informed for you. Being aware of your difficulties our firm (3)_______ to you in suggesting (4)________ . You should undertake to (5)________ for 40% of the contract value.

Thank you for (6)________ .

Truly Yours,

1. payment for collection terms

2. the interest to our firm

3. place of negotiations

4. suggested terms of payment

5. made a concession

6. submit a first class bank guarantee

Task 4. Choose the correct variant.

1. Sales are a good way for … to get rid of surplus stock.

a) retailers

b) sellers

c) dealers

d) wholesalers

2. … we work … we earn.

a) More, more

b) The most, the most

c) Much, much

d) The more, the more

3. Mike … a small business for three years already.

a) has run

b) has been running

c) is running

d) runs

4. Right now an excursion to the firm … .

a) is organized

b) will be organized

c) organizes

d) is being organized

5. It was announced that the government … interest rates the following year.

a) would raise

b) will raise

c) raised

d) raises

6. I … bring a certain sum a week ago to the owner.

a) ought to

b) may

c) was to

d) have to

7. He has got very bossy. I wish he … so much.

a) has changed

b) didn’t change

c) change

d) hadn’t changed

8. He only wished he … her ten years before.

a) had met

b) has met

c) will meet

d) would meet

9. If it had been my wish, I … you right then.

a) would hire

b) will hire

c) would have hired

d) had hired

10. It is generally accepted that people work … money.

a) earning

b) earn

c) to earn

d) earned