Нина Пусенкова - Английский язык. Практический курс для решения бизнес-задач

Exercise 4.tools, capability, performance, defect, morale, measure, pioneered, focuses, deviations, critical, variation, stability, delivering, perfection, number, figure, eliminate, zero-defects, origin, training, responsibility, supervise, scope, goals, implement, sponsors, objectives, occurrence, data, mapped, verified, identifying, effective, controls, sustain

Exercise 2.Statements 1, 4, 5, 7, 9, 10, 13 are not correct.

Exercise 3.1. message, 2. cost of capital, 3. dividend, 4. performance, 5. peer, 6. NPV, 7. appreciation, 8. economic profit, 9. stock market

Exercise 4.corporate value, segments, worldwide, applied, goal-driven, decentralized, gaps, target, budgeted, reporting, linked, proactive, earning power, cost of capital, rate of return, profitability, benchmark, bonus, remuneration, performance, expansion, business units, withdrawal, entry, value generators, cash providers, dividend, core

Exercise 2.1. takeover; 2. outsider; 3. venture; 4. stock exchange; 5. volatility; 6. collusion; 7. bribe; 8. sophisticated

Exercise 4.balance of power, shifted, provided, independent, accounting scandal, run, destroy, consolidate, helm, appreciate, lawyers relations, shareholder value, expertise, shareholders, exercised, attitude, mentality, liability, failures, effectively, bankrupt, claims, auditors cooperation, outside, investigate, blame, motto, treatment, transactions, environment, fundamental, turnaround, corporate governance, stock options, competitive, performance, stock prices, abuses, set, fees, quality, issues, deals, regulators, micromanagement, risk averse, boards, downsizing, charge, advisors, consensus

Exercise 2.1. bankrupt, 2. auditor, 3. competitor, 4. merger, 5. scholarship, 6. commitment, 7. offset, 8. suit. 9. core, 10. provision

Exercise 5.bonuses, board, staff, competitiveness, checks and balances, fiscal, decisions, profits, corruption, hiring, human resources, recruiters, job, managers, environment, monitoring, basics, enforce, vision, units, employee-evaluation, ranking, downgrading, division, fire, rating, values, Task Force, failed, rules, demand, deal, background, trading, endorsed, consulting, hands-off, skills, executives, experience, run, financial statements

Exercise 2.1. community, 2. fiduciary, 3. constituent, 4. procedure, 5. outcome, 6. expertise, 7. covenant, 8. endorse, 9. bylaw

Exercise 4.fraud, corporate governance, remuneration, stock options, executives, accounts, failed, boards, audit, auditors, credit rating, analysts, SEC, investment banks, deals, checks and balances, reporting, effectiveness, independence, chairman, conflicts of interest, issues, senior, best practice, responsibility, managing risks, accountability, embedded, quality, competence, staff, threat, malfeasance, whistleblowers, procedure, HR, mitigate, ethical, internal, domestic, operate, compliance, scope, discretion, empowerment, approach, values, scheme, principle, accountancy, focus, IT, background, expenses claims, security, controls

Exercise 2.1. obligation, 2. sensitive, 3. supranational, 4. charity, 5. welfare, 6. litigation, 7. fine, 8. morale

Exercise 4.contribution, operations, employment, staff, downsizing, local content, expenditures, remuneration, statutory, allowance, bribes, corruption, facilitation, integrity, soliciting, dismissed, bidding, target, breaches, behalf, complaint, environmental, emissions, impacts, installations, certification, occupational safety, developing and emerging, competition, procedure, violate, training, completed, guilty, infringed, cartels, fines, fair trading, bids, defense, contested

Exercise 2.pure competition, perfect competition, cutthroat competition, intense competition, moderate competition, weak competition, price competition, competition for customers, industry competition

Exercise 4.profitability, attractiveness, positioned, superior, leveraging, generic, business unit, low cost, profit, rivals, average, price war, matures, cost advantage, efficiencies, sustain, improves, leapfrog, targeting, segments, attributes, customers, value added, premium, incurred, suppliers, pass along, substitute, imitation, pursuing, narrow, loyalty, bargaining, target, broad-market, sub-segment, compatible, attempts, long term, «stuck in the middle»

Exercise 2.The following statements are not correct: 2, 3, 5, 8, 9.

Exercise 4.fair, sue, media, governments, stake, major, privatization, investment, risks, players, outbid, investors, favorite, rumored, bid, backing, CEO, decision, analysts, access, replacement, alliance, know-how, equity, partnership, agreement, rights, deal, starting, stock, trading, boost, image, community, treatment, claims, majority, renationalized, stability, property, campaign, unpredictable

Exercise 2.1. Seed Capital. 2. Startup. 3. First Stage. 4. Second Stage. 5. Third Stage. 6. Mezzanine Financing. 7. Private Placement. 8. Dilution. 9. Due Diligence. 10. Feasibility Study. 11. Equity Stake. 12. Sweat Equity.

Exercise 3.The following statements are not correct: 2, 3, 5, 6, 7, 9.

Exercise 4.agricultural, Apples, advantages, «science parks», attributed, institutions of higher education, hiring, faculty, recruit, cutting-edge, applications, marketplace, funds, equipment, commercialize, rent, fledgling, agglomeration, efforts, core, start up, semiconductor, revolutionized, scholars, founded, resign, manufacture, developed, pattern, outside, offshoots, government, underestimated, relocation, contractor, defence, procurement, highly qualified, rise, frontier, launched, trailblazers, communities, ventures, rewards, entrepreneurs, competing, rival, hierarchies, decentralization, autonomy, hi-tech, VC, IPO

Exercise 2.repair, renew, retool, refurbish, revamp, revive, restore, refresh, refit, rehabilitate, recover, renovate, rationalize, reshape, upgrade

Exercise 3.1. Crown Jewel. 2. Golden Parachute. 3. Greenmail. 4. Killer Bees. 5. Lobster Trap. 6. Maiden. 7. Nancy Reagan Defense. 8. Pac Man. 9. Parking. 10. Poison Pill. 11. Raider. 12. Safe Harbor. 13. Scorched Earth Defense. 14. Shark Repellents. 15. Stripper. 16. Suicide Pill. 17. White Knight.

Exercise 4.corporate finance, due diligence, shareholder value, swap, entity, «demerger», debt, acquiring, equity interest, high-yield, leveraged buyout, risk, third parties, cost of capital, borrower, shareholder’s equity, economies of scale, overlapping, capturing, cross selling, accounts, complementary, synergy, loss maker, write-offs, diversification, conservative, deliver value, downturn, portfolios, unmanageable, profile, empire building, remuneration, incentive

Exercise 2.1. bull market, 2. current account, 3. default, 4. emerging markets, 5. globalization, 6. International Financial Corporation, 7. monetary policy, 8. systemic risk, 9. World Bank.

Exercise 3.

Counterparty risk– risk that a counterparty to a purchase or sale may fail to discharge his obligations.

Country (sovereign) risk– the hazard that political risk may arise in the country of operations.

Credit (repayment) risk –risk of a payer’s or a borrower’s failure to meet commitments.

Currency (exchange, trading, translation, transaction) risk– the risk, attaching to securities deals denominated in foreign currencies, that unforeseen exchange rate changes may affect balance-sheet value in the home currency or income amounts in the home currency.

Default risk– risk of a counterparty’s failure to make payments or repayments of interest or principal on the due date.

Delivery risk– risk that a party to a deal fails to make the contracted delivery.

Inflation risk– risk of devaluation of assets or incomes because of price hikes.

Interest rate risk– risk of losses because of changes in interest rates.

Liquidity risk– the risk in securities trading that the price of a security may fluctuate excessively owing to the lack of a sufficient volume of trading in the market.

Market risk –risk that an asset price drops and its owner incurs losses while selling the asset.

Operational risk– risk of careless or unprofessional actions of management resulting in losses.

Political risk– the risk of an adverse change in official policy such as in regard to taxation, tariffs, quotas, currency control, foreign ownership, nationalization, interest rates, etc.

Price risk– risk of changes in commodity or financial instrument prices over time.

Reinvestment risk– uncertainty about the future level of returns and interest rates after the current investment expires.

Systematic risk– risk that is characteristic for all securities of a given class and cannot be eliminated through portfolio diversification.

Systemic risk– a situation when problems in any one financial institution or market may spread, widely endangering the whole system.

Exercise 4.economy, US dollar terms, account for, worth, GDP, appreciation, exchange rates, average, shift, growth rates, individuals, per capita, spending, assumption, projections, challenges, forecasts, implications, pattern, activity, engine, demand, offset, ageing, returns, advanced, weight, portfolios, flows, currency, incomes, pricing, commodities, opportunities, global, strategic, list, richest

Exercise 2.1. crowding out, 2. currency, 3. gold standard, 4. inflation, 5. interest rate, 6. investment, 7. liquidity trap, 8. money supply, 9. peg, 10. savings.

Exercise 4.macroeconomics, microeconomics, laissez-faire, Nobel, Economics, consumption, stabilization, federal, institution, contributed, Chicago School, affiliated, monetarist, money supply, phenomenon, Federal Reserve Bank, fiscal policy, restricted, Great Depression, financial shock, contraction, intervention, freely floating, negative income tax, welfare, bill, foundation, advisors, free market policies, relationship, economic situation

Exercise 2.

Increase: climb, recover, mount, soar, pump up, push up, peak, rise, surge, grow, drive up, boost, expand, upturn, upswing, gain, hike, lift, shot up

Decrease: downturn, cut, push down, lower, decline, fall, plunge, drop, drive down, slip, diminish, contract, reduce

Exercise 3.1. capital expenditures, 2. depreciation, 3. balance of payments, 4. Central Bank, 5. corporate tax, 6. fiscal year, 7. foreign direct investments, 8. gross domestic product, 9. inventory, 10. public finance

Exercise 4.petrodollars, forecast, hard currency, averages, upbeat, advisor, oil sector, mismanagement, wealth, natural resources, growth, windfall, spending, crunch, Stabilization Fund, accumulating, boost, tax revenues, hike, threshold, fiscal discipline, populist, outlays, GDP, cash payments, fiscal policy, public finances, budget surplus, inflation, upward, consumer prices, target, exacerbate, strengthening, manufacturers, value, in real terms, appreciate, macroeconomic, institutions, stability, «rents», interference, interest groups