Superb opportunities for talented strategic

Consultants and business executives to join an

Outstanding corporate advisory team

London £ Excellent

• Have you been successful in your academic and professional career to date?

• Are you committed, ambitious, and motivated by challenge?

• Do you want to be an integral part of a successful global team?

If the above questions strike a chord then this is the profession for you.

Our client is one of the world's leading investment banks. Acting internationally as intermediary and adviser to major corporations and governments it has the global power to meet the needs of issuers and investors worldwide, and has a good reputation for innovation and creativity. Due to continued growth, applications are invited from pro­fessionals who have experience in strategic consultancy, accountancy, or legal firms. Preferred candidates will dem­onstrate the following:

• Strong numerical, analytical, and presentational skills.

• Attention to detail and the abtfity to work in a challenging

team environment.

• Outstanding academic results combined with a strong in­tellect.

If you wish to further your career within this experienced and growing team please contact Jayne Philpott or Annabel Haywood on 0171 269 2298, or send a full curriculum vitae to Michael Page City.

Michael Page City

International Recruitment Consultants

London • New York • Paris • Amsterdam • Frankfurt • Milan

• Madrid • Hong Kong • Singapore • Sydney

VII. Answer the questions.

1. What is the name of the firm that has published this ad (adver­tisement)?

2. Who is the firm's client?

3. What information have you got about the bank for which the firm works?

4. What kind of (каких) specialists does the firm invite?

5. What kind of experience must the invited professionals have?

6. Does experience in accountancy matter (имеет значение)!

7. What will preferred candidates demonstrate?

8. What chief traits (основные черты) of character must the applicants have?

9. Is it necessary to send a full curriculum vitae to Michael Page City firm?

10. What words in the ad characterize the team within which the selected applicants will work?

Unit 8

Operations Management

Operations management consists of all the activities that man­agers engage in to create products (goods, services, and ideas). Operations are as relevant to service organizations as to manu­facturing firms. In fact, production is the conversion of resources into goods or services.

1. A technology is the knowledge and process the firm uses to convert input resources into output goods or services. Conver­sion processes vary in their major input, the degree to which inputs are changed, and the number of technologies employed in the con­version.

2. Operations management often begins with the research and product development activities. The results of R&D may be entirely new products or extensions and refinements of existing products. The limited life cycle of every product spurs companies to invest continuously in R&D.

3. Operations planning is planning for production. First, de­sign planning is needed to solve problems related to the product line, required production capacity, the technology to be used, the design of production facilities, and human resources. Next, opera­tional planning focuses on the use of production facilities and re­sources. The steps in this periodic planning are (1) selecting the appropriate planning horizon, (2) estimating market demand, (3) comparing demand and capacity, and (4) adjusting output to de­mand.

4. The major areas of operations control are purchasing, in­ventory control, scheduling, and quality control. Purchasing involves selecting suppliers and planning purchases. Inventory con­trol is the management of stocks of raw materials, work process, and finished goods to minimize the total inventory cost. Scheduling ensures that materials are at the right place at the right time—for use within the facility or for shipment to customers. Quality con­trol ensures that products meet their design specifications.

5. Automation, the total or near-total use of machines to do work, is rapidly changing the way work is done in factories and offices. A growing number of industries are using programmable machines called robots to perform tasks that are tedious or haz­ardous to human beings. The flexible manufacturing system com­bines robotics and computer-aided manufacturing to produce smaller batches of products more efficiently than the traditional assembly line.

Exercises

I. Translate into Russian.

Manufacturing firm; manufacturing system; operations man­agement; conversion; input resources; research and development; life cycle; design planning; production capacity; market demand; raw material; automation; supplier; purchasing; scheduling; de­mand and capacity; batch of products; assembly line; meet spec­ifications; output; inventory cost; input resources; adjust; create; be needed; select; compare; require; ensure; perform; estimate; employ; solve problems; engage (in); create.

II. Find the English equivalents.

Управление производством; производственная фирма; производимые товары; услуги; исследование и развитие; срок службы; план реализации идеи; варианты производимой продукции; производственная мощность; издержки произ­водства; рыночный спрос; календарное планирование; сы­рье; запас; клиент; задача; конвейер; машина; обеспечивать; выполнять; минимизировать; сравнивать; выбирать; концентрировать(ся); требовать; быть нужным; решать проблемы; создавать.

III. Fill in each blank with a suitable word or word combination.

1. Operations management consists of all the activities that man­agers engage in to create ....

2. A technology is the knowledge and process the firm uses to ... input resources into output goods or services.

3. The limited life cycle of every product spurs companies to in­vest continuously in....

4. Design planning is needed to ... related to the product line, required production capacity, the technology to be used, the design of production facilities, and....

5. Operations planning focuses on the use of... and resources.

6. Inventory control is the management of stocks of..., work process, and finished goods to minimize the total inventory cost.

7. Quality control... that products meet their design specifica­tions.

8. A growing number of... are using programmable machines called to... tasks that are tedious or hazardous to human be­gins.

IV. Translate into English.

1. Производство — это преобразование ресурсов в то­вары или услуги.

2. Управление производством часто начинается с деятель­ности по исследованию и разработке продукции.

3. Ограниченный срок службы каждой продукции стимули­рует компании постоянно инвестировать (вкладывать) капитал в исследование и разработку.

4. Планирование производства концентрируется на использовании производственного оборудования и ре­сурсов.

5. Основные области производственного контроля — это закупки, товарные запасы, календарное планирова­ние и качество.

6. Календарное планирование обеспечивает то, чтобы ма­териалы находились в нужном месте в нужное время.

7. Все большее число промышленных предприятий исполь­зует программируемые машины, называемые роботами,

для выполнения задач, утомительных или опасных для человека.

V. Questions and assignments.

1. What does operations management consist of?

2. What does operations management often begin with?

3. What spurs companies to invest continuously in research and development?

4. List the steps of operational planning.

5. List the major areas of operations control.

6. What does quality control ensure?

7. What tasks do robots perform?

8. Why do flexible manufacturing systems combine robotics and computer-aided manufacturing?

VI. Retell in short the above text.

Unit 9

Marketing

GENERALITIES

One of the areas of management is marketing. Marketing is the process of planning and executing the conception, pric­ing, promotion and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.

Marketing makes products available where customers want them by transferring the ownership of products to buyers. The entire business organization is involved in a dual process of satis­fying customer needs and achieving organizational goals.

Implementation of marketing concept begins and ends with marketing information about customers—first to determine what customers need, and later to evaluate how well the firm is meeting

tose needs. A market consists of people with their needs, the ability to buy, id the desire and ability to sell. Markets are classified as con­sumer and industrial markets.

A MARKETING MIX

A business firm controls four important elements of marketing which are called a marketing mix.

A firm's marketing mix is the combination of the product, the price of the product, the means for its distribution, and the promo­tion of the product to reach a firm's target market.

A firm can vary its marketing mix by changing any one or more of these ingredients. Thus a firm may use one marketing mix to reach one target market and a second, somewhat different marketing mix, to reach another target market. For example, most automakers produce several different types of vehicles and aim them at different market segments based on age and income.

1) The product ingredient of the marketing mix includes deci­sions about the product's design, brand name, packaging, warran­ties, and the like.

2) The pricing ingredient includes both base prices and dis­counts of various kinds. Pricing decisions are intended to achieve particular goals, such as to maximize profit or even to make room for new models. The rebates offered by automobile manufactur­ers are a pricing strategy developed to boost low auto sales.

3) The distribution ingredient involves not only transportation and storage but also the selection of intermediaries.

4) The promotion ingredient focuses on providing information to target markets. The major forms of promotion include advertis­ing and publicity.

The "ingredients" of the marketing mix are controllable ele­ments. A firm can vary each of them to suit its organizational goals, marketing goals, and target markets.

A MARKETING STRATEGY

A marketing strategy is a plan for the best use of an organi­zation 's resources to reach its objectives. Developing a market­ing strategy involves selecting and analyzing a target market and creating and maintaining a marketing mix that will satisfy that market.

A target market is chosen through the market segmentation approach. A market segment is a group of individuals or organiza­tions within a market that have similar characteristics and needs. The market segmentation approach directs a marketing mix at a segment of a market.

Market measurement and sales forecasting are used to esti­mate sales potential and predict product sales in specific market segments. Strategies are then monitored and evaluated through marketing research and marketing information system, which stores and processes internal and external data in a form suitable for marketing decision making.

Exercises

I. Translate into Russian.

Pricing; distribution; promotion; goods and services; customer; ownership of products; buyer; seller; ability; consumer market; industrial market; target market; marketing mix; price of the prod­uct; promotion of the product; distribution; ingredient; product in­gredient; pricing ingredient; distribution ingredient; promotion in­gredient; market segment; segmentation approach; profit; rebate; pricing strategy; storage; transportation; intermediary; advertis­ing; publicity; marketing research; income; marketing information system; internal and external data; evaluate; create; satisfy; in­volve (in); achieve; determine; buy; sell; reach; boost; meet needs; select; maintain; estimate; forecast; predict; monitor; pro­duce; develop.

II. Find the English equivalents.

Процесс планирования; продвижение и распространение; товары и услуги; индивидуальные и организационные цели; наличный; потребитель; двойной процесс; потребительский рьшок; целевой рьшок; элементы маркетинга; продукция; со­ставная часть (компонент); компонент продукта; ценовая со­ставляющая; ценовая стратегия; рекламирование (в газе­тах) ; широкая реклама; скидка (уступка); скидка (с исход­ной цены); сегмент рынка; посредник; покупать; продавать; удовлетворять нужды; прогнозировать; определять; оцени­вать; достигать; производить; разрабатывать; достигать; выполнять.

III. Fill in the blanks.

1. Marketing is the process of... and... the conception, pricing, promotion and distribution of ideas, goods, and services to cre­ate... that satisfy individual and organizational objectives.

2. Markets are classified as ... and ... markets.

3. А......is the combination of the product, its price, distribu­tion, and promotion.

4. The ... ingredient of the marketing mix includes decisions about the product's design, brand name packaging,..., and the like.

5. The major forms of the product promotion include... and

6. The distribution ingredient involves not only transportation and storage but also the selection of....

7. The ingredients of the marketing mix are ... elements.

8. A marketing strategy is a... for the best use of organization's resources to meet its ....

9. A market segment is a group of... or... within a market that have similar characteristics and needs.

10. Strategies are monitored and evaluated through marketing... and.......

IV. Translate into English.

1. Рынок состоит из людей с их потребностями, способнос­тью покупать и желанием и способностью продавать.

2. Маркетинг делает продукцию наличной там, где она нуж­на потребителям.

3. Комплекс маркетинга — это сочетание продукции, ее цены, средств распределения продукции и ее продвиже­ния.

4. Основные виды продвижения продукции включают рек­ламирование (в газетах) и широкое оповещение.

5. Составляющая распределения включает не только пере­возку и хранение, но также выбор посредников.

6. Составляющая ценообразования включает как базисные цены, так и различные скидки.

7. Развитие рыночной стратегии включает отбор и анализ целевого рынка, а также создание и поддержание эле­ментов маркетинга, которые будут удовлетворять этот рынок.

V. Questions and assignments.

1. Define (определите) the term marketing.

2. What does implementation of marketing concept begin and end with?

3. What does a market consist of?

4. Define the term a marketing mix.

5. Can a firm vary its marketing mix?

6. For what purpose may a firm vary its marketing mix?

7. Give an example when a firm changes its marketing mix.

8. List all the ingredients of the marketing mix.

9. What does a product ingredient include?

10. What means (средство) is used to boost low sales?

11. What do the major forms of a product promotion include?

12. What does developing a marketing strategy involve?

13. State the purpose for which market measurement and sales forecasting are used.

14. How are strategies monitored and evaluated?

VI. Speak on the following.

1. Marketing (Generalities).

2. A Marketing mix.

3. A Marketing strategy.

VII. Read and translate this newspaper article.