II. Vocabulary exercises. 1. Study the following definitions

1. Study the following definitions. Make sure you understand them and can reproduce from memory:

International management is the process of managing resources (people, funds, inventories, and technologies) across national boundaries and adapting management principles and functions to the demands of foreign competition and environments.

Globalization is the strategy that involves the development of relatively standardized products with worldwide appeal.

Rationalization is the process of assigning activities to those parts of the organization best suited to produce specific goods or desired results, regardless of where they are located.

National responsiveness is the strategy that allows subsidiaries latitude in adapting products and services to conform to the special needs and political realities of the countries in which they operate.

Multifocal approach is the strategy that tries to achieve the advantages of globalization while attempting to be responsive to important national needs.

2. Mach the words with their definitions:

1. globalization a. the plan of any activity

2. to reduce b. model

3. applicable c. a very complicated task

4. curriculum d. a thing that is in use (is put into practice)

5. multifocal e. the process that has many aspects

6. challenge f. to make something smaller

7. pattern g. something which a person owns (land, shares)

8. holding h. the strategy that involves the development of

standardized products