Answer the following questions

1. What is the Stock Exchange?

2. Where is Britain's main Stock Exchange and when was it founded?

3 .What is the approximate number of members of the Stock Exchange?

4 . How do broker/dealers work on the Stock Exchange?

5.Explain briefly, what happened in October 1986 in the event referred to as the "Big Bang'.

6. Explain why computers and visual display units have been found useful on the Stock Exchange.

7. Give some examples of the names of shares or securities which у be bought or sold on the Stock Exchange.

8. Describe the activities of bears, bulls and stags.

9. What happens to the prices of shares when there is an increase inmand for the shares or a decrease in demand for the shares?

10 What are unit trusts busy with?

Вариант IV

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On Management and Managers

1. Management, by definition, is a function of planning, organizing, coordinating, directing and controlling. Any managerial system, at any managerial level, is characterized in terms of these functions.

2. Management is revealed in a variety of specific activities. Marketing management refers to a broad concept covering organi­zation of production and sales of products, which is based on consumer reqirements research. All companies must look beyond present situation and develop a long-term strategy to meet chan­ging conditions in their industry. Marketing management, there­ fore, consists of evaluating market opportunities, selecting markets, developing market strategies, planning marketing tactics and controlling marketing results.

3. Strategic planning includes defining the company's long-term as well as specific objectives, such as sales volume, market share profitability and innovation, and deciding on financial, material and other resources necessary to achieve those objectives.

4. In problems of market selection and product planning one of the key concepts is that of the PRODUCT LIFE CYCLE. That products pass through various stages between life and death (introduction- growth-maturity-decline) is hard to deny. Equally accepted is the understanding that a company should have a mix of products with representation in each of these stages. Companies can make far more effective marketing decisions if they take time to find out where each of their products stands in its life cycle.

5. However, the concept of the product life cycle seems frequently forgotten in marketing planning, which leads to wrong de­cision-making. This may well be seen in the following story: A supplier of some light industrial equipment felt that the decline in the sales of his major product was due to the fact that it was not receiving the sales support it deserved. In order to give extra sales support to this problem case a special advertising campaign was run. This required cutting into marketing budget of several products that were still in their "young" growth phase. In fact, the major product has long since passed th.e zenith ot its potencial sales, and no amount of additional sales support could have extended its growth. This became quite clear in the " ond-of-year sales which showed no improvement. The promising pro­ducts, however, went into gradual sales decline. In short, manage­ment has failed to consider each product's position in its life cycle.

6. A number of different terms are used for "manager", including "director", "administrator" and "president". The term "ma­nager" is used more frequently in profit-making organizations, while the others are used more widely in government and non-pro­fit organizations such as universities, hospitals and social work agencies.

7. What, then, is a manager?

When used collectively the term "management" refers to those people who are responsible for making and carrying out decisions within the system.

An individual manager is a person who directly supervises people in an organization.

8. Some basic characteristics seem to apply to managers in all types of organization: they include hard work on a variety of activities, preference for active tasks, direct personal relation­ships. Almost everything a manager does involve decisions. The reason for making a decision is that a problem exists. In decisionmeking there is always some uncertainty and risk.

9. Managing is a hard job. There is a lot to be done and relatively little time to do it. The engineer can finish a design on a particular day, and the lawyer can win or lose a case at a certain time. But the manager's job is like "OLD MAN RIVER" - it just keeps going.

1. Collectively - в собирательном значении

2. "OLD MAN RIVER" - the name of a aong

3. in term of - с точки зрения

Answer the following questions:

1. What is Management?

2. What does marketing management consist of?

3. What does strategic planning include?

4.What are the stages of the Product Life Cycle?

5.Why is the Product Life Cycle considered one of the key epta in marketing?

6.What concrete activities is a production manager responsible for?

7.What basic characteristics do apply to managers?

8.Why is managing a hard job?

9.What does the term "manager" mean?

10. What people does the term "management" refer to?

Вариант V

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Financial Institutions in the USA

1. Businesses that distribute or deal in money are called finacial institutions. The most familiar institutions are comnercial banks, savings banks, savings and loan associations, mutual sa­vings banks, credit unions, investment banks, and so on.

2. A commercial bank is a privately owned profit-making corpora­tion. It serves both individuals and businesses by offering che­cking and savings accounts, loans and credit cards. It also deals in some brokerage, insurance and financial advice. The commercial bank is the most important source of short term loans for busi­nesses. Sometimes the borrowers pledge collateral to back up the loan. Such loan is a secured loan. Companies with a good financial position are given the prime rate of interest which is the lowest commercial interest rate.

3. The commercial bank offers its customers accounts of two types; demand deposits and time deposits. A demand deposit mekee the money in it available to depositors immediately, while a time re­quires depositors to leave their money within the bank for a ateted period of time. Most banks offer their customers various sa­vings certificates, called certificates of deposit. Savers may put their money into thirty day, six month or two and a half year cer­tificates. The highest interest is paid to the customers who depo­sit their money for a longer period.

4. There is a central bank for all states in the USA called the Pederal Reserve System ("the Fed") which controls various finan­cial institutions. The government and member-banks Jointly own the Fed. Member-banks have a right to obtain funds by borrowing from their district reserve bank, to use various serviceewhich the system provides, to obtain financial advice and assistance and to receive a dividend on stock that the district bank owns.

5. The Fed. controls the money supply and prevents the economy from crises. The Fed sella and buys governmental securities (bonds). When it buys government securites, it increases the mo­ney supply by putting more money in circulation. When the Fed sells government securities, it decreases the money supply. The Fed

is "the banker's bank" because it lends money to member banks.

The interest that the Fed charges is called the discount rate. The Fed also clears checks by moving them from the bank where they wore deposited to the bank on which they are drawn. The check travels electronically from one bank to another through the FedeReserve Bank.