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How do they respond to goods at ridiculously low prices in overseas
sudden rises and falls in demand? These markets are then likely to suffer
a 6. ............ of goods themselves, pushing their prices down further and
destroying the conditions for fair trading which create long-term
7.............. .
10. Answer the questions:
1) What does a historical account say about the origin of hamburgers?
2) What was the background of the first contact?
3) Why did they have to grow outside?
4) How many countries have McDonald’s restaurants?
5) Who are the partners in this venture?
6) What problems did they meet?
7) What is a major hindrance for foreign investors in our country?
8) In what way did they solve the convertibility problem?
9) How do they train their workers?
10) How do they stimulate their workers?
Topic for discussion: Your opinion of the fast food.
QUIZ
A Girl's Best Friend?
Like classic cars, vintage champagne and 24-carat gold, there is
always a market for cut diamonds. But what's so special about diamonds
and why are they so expensive? Have you ever bought anyone a diamond
as a present? How do you know if it was worth what you paid for it? For
in the world of diamond dealing nothing is quite what it seems...
Try the quiz below and then check your answers in the article
Diamonds Are Forever.
1. How many companies control the world diamond market?
a. Hundreds. b. A dozen. c. Three. d. One.
2. How rare are diamonds?
a. Extremely rare. b. Rare. c. Fairly rare. d. Not rare at all.
3. How valuable are diamonds?
a. Priceless. b. extremely valuable. c. Less valuable than people think.
d. Almost worthless.
4. Are diamonds a good investment?
Yes, they always appreciate in value. b. It depends on the state of
the economy c. They always hold their value. d. No, you never get your
the expertise they have today will suffice tomorrow, so a willingness to
learn is critical.
Sixth, you have to be flexible enough to take advantage of
opportunities, that can give you perspective. At Microsoft we try to offer
a person lots of different jobs through the course of a career. Anyone
interested in joining management is encouraged to work in different
customer units, even if it means moving literally within the organisation
or relocating: to a different part of the world. We try to move people from
our product groups out into the field and move field people into the
product groups. We have many people in our U.S. subsidiary from other
countries and we have many U.S. employees' who work for subsidiaries
in other nations. This helps us better understand world markets, and while
we do a pretty good job of cross-pollination there's still not quite as much
of it as I would like.
Seventh, a good employee will want to learn' the economics of
the business. Why does a company do what it does? What are its business
models? How does it make money?
I'm always surprised to learn of a company that doesn't educate
its employees in the fundamental financial realities of its industry.
Employees need to understand the "make or brake"
aspects of their
industry so that they know what it is about their own job that really
counts. Of course, employees have to be willing students who direct
attention to the areas where it makes the biggest difference.
Eighth, you must focus on competitors. I like employees, who
think about what's going on in the market place. What are our
competitors doing that's smart? What can we learn from them? How can
we avoid their mistakes?
Ninth, you've got to use your head. Analyse problems but don't
fall prey to "analysis paralysis." Understand the implications of potential
tradeoffs of all kinds, including the trade-off between acting sooner with
less information and later with more.
Use your head in practical ways, too. Prioritise your time
effectively. Think about how to give advice crisply to other groups.
Finally, don't overlook the obvious essentials such as being
honest; ethical and hard working. These attributes are critical and go
without saying.
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