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Task 1. Read the text McDonalds Corporation and translate it.

Task 2. Find answers to the following questions in the text and write them down:

1. Who was responsible for making McDonalds what it became by the 1980s?

2. What was Ray Kroc impressed by at the small restaurant?

3. What concept has McDonalds developed?

4. Did the original McDonalds units have inside seating?

5. When was the first restaurant with drive-thru window built?

6. What innovations did McDonalds pioneer?

7. What challenge was McDonalds faced with?

8. What do McDonalds plans for future include?

Task 3. Using your own experience and facts from the text point out pros and cons of McDonalds activity.

Task 4. Prove that McDonalds Corporation participates in public events. Confirm your answers using the sentences from the text.

Task 5. Compose a summary of the text in 80 words.

MCDONALDS CORPORATION

Ray Kroc, more than any other person, was responsible for making McDonalds what it became by the 1980s. In 1954 52-year-old Ray Krocs attention was focused on a particularly successful restaurant in San Bernardino, California. He was very impressed with a number of factors he saw at that small restaurant. They included the quality of food, fast service, cleanliness and inexpensive prices. Kroc approached the owners, Richard and Maurice McDonald, with a proposal to sell franchises for their fast-food restaurant concept.

McDonalds new chief executive, Kroc took note of several significant demographic trends. The American middle-class population was relocating to the suburbs in a massive migration. Kroc believed these factors pointed to the need for a chain of restaurants that could provide uniform quality, cleanliness and quick service. McDonald has developed the concept of QSC quality, service and cleanliness. Quality meant fresh, good-tasting meals using quality ingredients and served hot. Service meant fast, friendly service by trained McDonalds personnel. Cleanliness meant that the stores interior and exterior were free from dirt and trash.

At the end of 1984, McDonalds had 8,304 fast-food restaurants: 6,598 of them in the USA and 1,706 in other countries. The original McDonalds units did not have inside seating. The first restaurant with inside seating was opened in 1966. The first restaurant with drive-thru window was built in 1975. By the mid 1980s, drive-thru window orders accounted from 10 to 45 percent of the sales for the usual McDonalds restaurant.

McDonalds prices were extremely competitive and value oriented. Its various hamburgers were priced equal to or cheaper than most of its food competitors.

McDonalds advertisements relied upon a variety of media. McDonalds began some network television advertising in 1967. McDonalds was the official fast-food restaurant sponsor of the 1984 Olympic Games.

Until 1984, the focus of McDonalds marketing efforts had been to target the baby boom market. In the late 1980s and early 1990s that market segment was expected to minimise. A challenge, which McDonalds faced, was how to adapt to a new generation of older, more health-conscious consumers. In view of healthy food trend, fast-food chains were experiencing stabilising customer counts and slackening income growth.

The company undertook extensive testing of chicken and other types of sandwiches and salads. This helped to screen out new products that had limited chances for success. New introductions often led to innovation in the production equipment used by McDonalds. McDonalds had pioneered a number of innovations:

a clam shell grill that cooked patties simultaneously on both sides;

wireless communication headsets used by customers as they came through the drive thru;

energy management systems to reduce air-conditioning and related electrical costs by optimising running times of compressors in response to outside temperatures;

lighting control panels to automatically regulate the operation of all exterior lighting and signs;

laser disc point-of-purchase displays;

a Ronald Room for young customers where Ronald McDonald wall decorations lit up, then moved, played music and even spoke to children.

McDonalds had consistently followed a policy of promotion from within. Training for all new employees was done on the job. A new crewmember was trained for at least ten hours before serving his first customer. In addition, new crewmembers read training manuals that provided them with further job know-how.

McDonalds plans for future include adding new restaurants all over the world, maximising sales, emphasising international expansion and profitability.

UNIT 3

Task 1. Read the text Latin Americas Economies: Here We Go Again! and translate it.

Task 2. Find answers to the following questions in the text and write them down:

1. What happened after the collapse in Argentina in 2001?

2. Did the financial markets in Latin Americas biggest economy come close to panic in 2002? Why?

3. What are the similarities and differences between Brazil and Argentina?

4. May the rich countries and the IMF decide whether to swallow their doubts and organise large-scale financial support?

5. What two things would help to stabilise the situation?

Task 3. Compose a summary of the text in 80 words.

LATIN AMERICAS ECONOMIES: HERE WE GO AGAIN!

In international finance it never rains, it pours. Rich-country currencies and stock markets are in the mess not much helped by the latest revelations at American malpractice. Fears emerge together with emerging markets. This time the attention is focused on Latin America.

After the collapse in Argentina in 2001, the rest of the region and emerging markets seemed to get off slightly. Worries about financial contagion of the kind that spread disaster during the East Asian crisis of 1997-1998 eased. Argentina was allowed to sort out its own problems without the assistance it might once have expected. Nevertheless, Argentinas plight had gone from bad to unbearable and contagion was back. The strain was being clearly felt in Brazil. In 2002 financial markets in Latin Americas biggest economy came close to panic. The stock market tumbled; risk spread on the countrys debts; rumours abounded of a gathering flight from the currency. Brazil couldnt go the way of Argentina.

With luck and resolve it need not happen. The similarities between these two countries are only skin-deep. Argentinas debt was mostly external; Brazils is mostly domestic. Argentina had tied itself to a fixed exchange-rate system; Brazil has a floating currency to act as a shock absorber.

Argentinas economy is small and dependent on trade in just a few goods, Brazils is big and diversified.

The trouble is, markets have a habit of getting their way even when they are wrong. Predictions of financial collapse are notoriously self-fulfilling. And the medium-term sustainability of Brazils domestic debt is genuinely in doubt.

Therefore, the rich countries and the IMF (International Monetary Fund) may decide whether to swallow their doubts and organise large-scale financial support. In the meantime, two things would help to stabilise the situation. First, all of Brazils presidential candidates should make it clear that they are preparing to deal with the domestic-debt problem and support current moves to make the countrys central bank independent. Second, rich-country leaders should either say helpful things or keep quiet.

 

 

UNIT 4

Task 1. Read the text What the Pros Are Buying Now and translate it.

Task 2. Find answers to the following questions in the text and write them down:

1. What question do the individual investors face? Why?

2. What is the goal of George Mairs?

3. Joel Dobberpuhls recent buys include Jonson & Jonson, Noble Drilling and NVR, a Mid-Atlantic region homebuilder, dont they?

4. What do you know about Richard Nash? What is he famous for in management?

5. What is the difference between cyclical companies and hospitals?

6. Are the tobacco shares still cheap?

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