Exercise 4.

1. Speak about banking system in the USSR.

2. Make up a dialogue between a bankman and a customer, who wants to take a long-term (short-term) loan.

Exercise 5. Translate into English.

1. Государство учреждает коммерческие банки.

2. Если ты хочешь купить товары за границей, ты должен поменять деньги в отделе обмена валюты.

3. Я бы хотел сделать карьеру в банковском деле.

4. Все банки устанавливают проценты на ссуду.

5. Наш банк намерен предоставить краткосрочную ссуду этому предприятию.

6. Наименьший процент со ссуды предоставляется при­вилегированным клиентам.

7. Банки могут выпускать аккредитивы и рекоменда­тельные кредитные письма.

8. Я намерен занять крупную сумму денег.

9. Банк считает, что это предприятие платежеспособно и ему можно предоставить заем.

Grammar Exercises

Exercise 1. Make the sentences negative.

Model: This commercial bank had already stopped to exist when the war started.

This commercial bank hadn't stopped to exist yet when the war started.

1. He had already changed currency when I rang him up yesterday.

2. They had already chartered the commercial bank when I organized my private cafe.

3. He had looked over the financial statement by five o'clock yesterday.

4. My brother had made a career in banking when he was 26.

5. He had put all his money on his savings account before the money reform was introduced.

Exercise 2. Put up four questions of different types (general, special, disjunctive, alternative) to each sentence.

Model: They had written a credit reference letter before he left abroad.

1. Had they written a credit reference letter before he left abroad?

2. What had they written before he left abroad?

3. They had written a credit reference letter before he left abroad, hadn't they?

4. Had they written a credit reference letter or a credit letter before he left abroad?

1. He had been a preferred customer for this bank till his business was successful.

2. My parents half settled everything connected with insurance before they retired on pension.

3. He had borrowed the money before I managed to find him.

4. The lawyer had given me investment advice before I asked him about it.

5. He had arrived to the conclusion to take a long-term loan when I met him yesterday.

LESSON 9

PRODUCT DEVELOPMENT and PLANNING

Text

The number of new products coming into the market of western countries every year is overwhelming. The major part of these products is not new, but adaptations. It means that these products are not new, they are existing items to which a modification has been made. Only few products are really original or innovations. For instance a clock-television is an adaptation, but TV-set itself, the refrigerator - each was an innovation. A great number of innovations and adaptations are designed, produced and marketed by small businesses. Very often a new product is formed on the basis of the new business. Sometimes there is a patent to make the business more successful. But it happens very often that market research hasn't been done carefully.

Even in case larger scale producers do more research and testing there is no sure success. A promising new product may be also robbed of success by unreasonable prices, inadequate promotion and poor selling methods. Generally less than one fifth of all new products turn out to be profitable.