It is used by some as an escape from the world, and regarded by others as an irritating waste of time. It is widely believed that sleep repairs the body and make good the damage caused by being awake. This day has been made possible by the work of many Vietnamese and many Americans who have joined hands to account for our missing service personnel. Never before has such an extensive effort been made to resolve the fate of soldiers who did not come home from war. Governments, always eager to deflect political pressure, may prefer to justify unpopular decisions by pretending that their hands are tied.
Translate the following into Vietnamese Forms of fdi 1. In carrying out its foreign direct investment investment FDI , a multinational multinational corporation has a variety of ownership choices, ranging from per cent ownership to minority interest. As many markets are becoming less attractive to investment alternatives, many firms are looking at management contracts as an approach to international involvement. Full ownership. For many firms, the FDI decision is, initially at least, considered in the context of per cent ownership.
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The reason may have an ethnocentric basis; that is, management may feel that no outside entity e ntity should have an impact on corporate decision making. Alternatively, it may be based on financial concerns. For example, the management of IBM believes that by relinquishing a portion of its ownership abroad, it would be setting a precedent for shared control with local partners that would cost more than could possibly gained.
In some cases, IBM has withdrawn operations from a country rather than agree to government demands for local ownership. In order to make a rational decision about the extent of ownership, management must evaluate the extent to which total control is important to the success of its international marketing activities. Often full ownership may be a desirable, but not a necessary, prerequisite for international success. At other times it may be essential, particularly when strong linkages exist within the corporation.
Interdependencies between and among local operations and headquarters may be so strong that nothing short of total coordination will will result in an acceptable a cceptable benefit benefit to the t he firm as a whole.
Increasingly, however, the international environment is hostile to full ownership by multinational firms. Government action through outright legal restrictions or discriminatory actions is making the option less attractive. The choice is either to abide 81 by existing restraints and accept a reduction in control or to lose the opportunity to operate in the country. In addition to formal action by the government, the general conditions in the market may make it advisable for the firm to join forces with local entities.
Joint Ventures. Governmental pressures are not the only reason for the substantial increase in joint ventures in the international marketplace today. With the increasing cost of developing business, and with competition growing more fierce, companies are looking at collaborative ventures as a solution solution to their problems. Joint ventures are nothing new. In Thomas Edison teamed up with Corning Glass Works to make his experimental incandescent light bulb.
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Similarly, railroads in the U. While these ventures have traditionally been used in the manufacturing sector, they are becoming more and more prevalent in the services sector as well. Next to manufacturing, the information and communications industry registers the most joint ventures, followed by transportation and natural resources. The key to a joint venture is the sharing of a common business objective, which makes the arrangement more than a customer-vendor relationship but less than an outright acquisition. Toyota needed direct access to the U. Joint ventures are valuable when the pooling of resources results in a better outcome for each partner than if each were to conduct its activities activities individually.
Traditionally, Traditionally, joint ventures ve ntures have occurred only when there is an operating venture; that is, a stand-alone operating operating company is established. However, new forms of joint ventures are emerging. Research and development ventures are likely likely in the high-technolo h igh-technology gy area.
Cooperative ventures in which two or more companies undertake a specific enterprise without forming a separate entity are occurring in the services sector. Phrasal verbs Translate the following sentences into English, using the given phrasal verbs 1. Marketing Task 1. Translate the following into Vietnamese No smoke without brand fire 1. There is a lot of o f nonsense being spouted about the issue of tobacco promotion. This is absurd.
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It picks a fight on the worst possible grounds a product that kills and it sidesteps the real issue, which is not the principle of advertising regulation, but what sort of restrictions restr ictions should apply. On the other side, and equally absurd, are those who see the banning of tobacco advertising and perhaps, sponsorship as the be-all and end-all of their campaign.
It is utter nonsense to think that Silk Cut and Marlboro would stop selling if all advertising were banned. The brands are far too powerful. Which gets us to the real point: the power of branding, as opposed to mere advertising. They would look less elegant and 20 a day would mean less tobacco.
Legislation on Packaging could really undermine cigarette brands. How about putting up the price to pay for a powerful anti-smoking campaign? The sponsorship problem would disappear. And how about Place? Ban cigarette sales from everywhere but CTNs Confectioners, Tobacconists and Newsagents , and extend the current bans on smoking in public places. The point of all this? First, to show that those who really want to tackle an issue such as tobacco should think in terms of marketing, rather than advertising.
Second, to point out how ignorance of the real power of marketing is muddying the waters. Finally, and most important of all to emphasise to all those doubters, in the boardroom and out, just how powerful the full marketing mix is. Underestimate it at your peril. Idiomatic expressions Translate the following sentences into Vietnamese, making them as natural as you can 1.
Some businesses have understood that environmental protection and economic progress can go hand in hand. Your arguments are all true enough - yet, yet , unhappily unhappily they are also largely beside the point. The opposition parties do have the government on the ropes over several corruption and campaign-finance campaign-finance scandals. The trouble is that the opposition, too, is far from clean. Unless serious action is taken soon, he may leave office as a president long on reform rhetoric, but short on delivery. The fact that the economic situation is becoming worse could be helpful to the Prime Minister: it gives him a rod with w ith which to beat the back of opponents of change.
As Hu Jintao struggles to find his feet after the congress, bold new moves to tackle state enterprise reform and clear up bad debts look unlikely in the short term. Globalization is adding to the reach of the market. Now individuals, firms and even governments have to bow down before this new master of competition.
Translate the following into Vietnamese corporate governance 1. Few topics are more central to the international business and development agendas than that of corporate governance, which is typically perceived by academic literature as dealing with "problems that result from the separation s eparation of ownership and control". A series of events over the last two decades have placed corporate governance issues as a top concern for both the international business community and the international financial financial institutions.
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More recently, several high profile scandals in Russia and the recent Asian crisis have brought corporate governance issues to the fore in the developing countries and transitional economies. Further, national business communities are learning and re-learning the lesson that there is no substitute for getting the basic business and management systems in place in order to be competitive internationally and to attract investment.
The fall of the Berlin wall and the drive to rapidly privatize the entire business structure of the post-communist economies began to increase interest in corporate governance as a development topic. As a start, state owned firms had to be corporatized, i. Second, the whole body of commercial law had to be put into place including bankruptcy, laws on property, accounting systems, and a host of other rules of the game. Most dauntingly, talent had to be nurtured.
Few individuals had any experience as members of a board of directors. When the subject of corporate governance arises in the context of transitional or developing countries, it involves a much wider range of issues. The recent Asian economic crisis, the continuing turmoil in Russia, and the recent experience of the Czech economy have combined to push the issue of corporate governance from the sidelines to center stage.
In Asia, what began as a financial crisis is now viewed to be a crisis of corporate transparency involving relationships between government and business, between holders of debt and equity, and the legal remedies for bankruptcy and cronyism. Further, as seen in the daily papers, the lack of adequate institutions in Russia have resulted in several highly publicized cases involving allegations of asset stripping, stock register manipulation, and fraud. The Czech Republic privatization program has demonstrated the weakness of the voucher method in the absence of o f sound corporate governance mechanisms since it resulted in a lack of corporate restructuring and a consequen co nsequentt decline in competiti c ompetitiveness.
How often has it been said that, "the government should get out of the way and let the market function?