Английский язык. Практический курс для решения бизнес-задач

4. learning curve – кривая освоения

5. switching costs – издержки переключения

6.forward integration – прямая интеграция

7. backward integration – обратная интеграция

8. bargain n – сделка или операция; договоренность; выгодная покупка

bargaining n – ведение переговоров

bargain v – торговаться, вести переговоры, договариваться, уславливаться

9. rival n – соперник, конкурент

rivalry n – соперничество, конкуренция

rival a – соперничающий, конкурирующий

rival v – соперничать, конкурировать

10.perfect competition – совершенная конкуренция

11. Concentration Ratio (CR) – показатель концентрации

12. Bureau of Census – Бюро переписей (Министерства торговли США)

13. Standard Industry Classification (SIC) – стандартная промышленная классификация

14. code of conduct – кодекс поведения

15. maverick n – диссидент, отступник; резко отклоняющееся значение (на графике)

16. cutthroat competition – ожесточенная конкуренция, конкуренция на удушение

17. vertical integration

– вертикальная интеграция

18. unit cost – себестоимость единицы продукции

19. storage n – хранение, складирование; хранилище, площадь склада

store n – магазин, хранилище, склад, запас

store v – хранить, складировать

20. shakeout n – встряска (существенное изменение в рыночных условиях)

21. entrant n – компания, выходящая на рынок или проникающая в отрасль

22. price elasticity – эластичность по ценам

23. monopsony n – монопсония (монополия покупателей)

monopsonic a – монопсонический

24. entry barriers (barriers to entry) – барьеры к выходу на рынок

25. exit barriers (barriers to exit) – барьеры к уходу с рынка

26. market equilibrium – рыночное равновесие

27. start-up costs – начальные затраты

28. Minimum Efficient Scale (MES) – минимальный эффективный уровень

Exercise 1. Answer the following questions.

1. What forces influencing the industry did Michael Porter identify? 2. How do economists measure rivalry in an industry? 3. What competitive strategies can a firm adopt to gain an advantage over its rivals? 4. What are the determinants of the intensity of rivalry? 5. How did Michael Porter define the threat of substitutes? 6. What is the power of buyers? 7. How can suppliers exert their influence? 8. What are the entry and exit barriers?

Exercise 2*. Find at least 9 adjectives in the text to the term «competition

» and make sentences of your own using them.

Exercise 3. Fill in the following table using Russian industries as examples and briefly describe key characteristics of these industries.

Exercise 4*. Fill in the blanks using terms given below.

Porter’s Generic Strategies

If the primary determinant of a firm’s……. is the……. of the industry in which it operates, an important secondary determinant is its position within that industry. Even though an industry may have below-average profitability, a firm that is optimally……. can generate……. returns.

A firm positions itself by……. its strengths. Michael Porter has argued that a firm’s strengths ultimately fall into one of two headings: cost advantage and differentiation. By applying these strengths, three……. strategies result: cost leadership, differentiation, and focus. These strategies are applied at the……. level.

Cost Leadership Strategy

This generic strategy calls for being the…….. producer in an industry for a given level of quality. The firm sells its products either at average industry prices to earn a……. higher than that of……., or below the…… industry prices to gain market share. In the event of a……., the firm can maintain some profitability while the competition suffers losses. Also, as the industry…….. and prices decline, the firms that can produce more cheaply will remain profitable for a longer period of time. Firms acquire……… by improving process……., gaining unique access to a large source of lower cost materials, making optimal outsourcing and vertical integration decisions, or avoiding some costs altogether. If competitors are unable to lower their costs by a similar amount, the firm may be able to…….. a competitive advantage based on cost leadership.