Ξένη Ορολογία Ενότητα 10: Business in the Global Environment Ευαγγελία Κουτσογιάννη Τμήμα Λογιστικής & Χρηματοοικονομικής ΕΛΛΗΝΙΚΗ ΔΗΜΟΚΡΑΤΙΑ Ανώτατο Εκπαιδευτικό.

Παρουσίαση με θέμα: "Ξένη Ορολογία Ενότητα 10: Business in the Global Environment Ευαγγελία Κουτσογιάννη Τμήμα Λογιστικής & Χρηματοοικονομικής ΕΛΛΗΝΙΚΗ ΔΗΜΟΚΡΑΤΙΑ Ανώτατο Εκπαιδευτικό."— Μεταγράφημα παρουσίασης:

1 Ξένη Ορολογία Ενότητα 10: Business in the Global Environment Ευαγγελία Κουτσογιάννη Τμήμα Λογιστικής & Χρηματοοικονομικής ΕΛΛΗΝΙΚΗ ΔΗΜΟΚΡΑΤΙΑ Ανώτατο Εκπαιδευτικό Ίδρυμα Πειραιά Τεχνολογικού Τομέα

2 Άδειες Χρήσης Το παρόν εκπαιδευτικό υλικό υπόκειται σε άδειες χρήσης Creative Commons. Για εκπαιδευτικό υλικό, όπως εικόνες, που υπόκειται σε άλλου τύπου άδειας χρήσης, η άδεια χρήσης αναφέρεται ρητώς. 2

3 Χρηματοδότηση Το παρόν εκπαιδευτικό υλικό έχει αναπτυχθεί στα πλαίσια του εκπαιδευτικού έργου του διδάσκοντα. Το έργο «Ανοικτά Ακαδημαϊκά Μαθήματα στο Ανώτατο Εκπαιδευτικό Ίδρυμα Πειραιά Τεχνολογικού Τομέα» έχει χρηματοδοτήσει μόνο την αναδιαμόρφωση του εκπαιδευτικού υλικού. Το έργο υλοποιείται στο πλαίσιο του Επιχειρησιακού Προγράμματος «Εκπαίδευση και Δια Βίου Μάθηση» και συγχρηματοδοτείται από την Ευρωπαϊκή Ένωση (Ευρωπαϊκό Κοινωνικό Ταμείο) και από εθνικούς πόρους. 3

4 Business in the Global Environment

5 Learning Objectives In this section you will learn specific vocabulary related to the concept of comparative advantage; the different approaches to entering international markets; the types of trade restrictions how to organize your speech using suitable connecting and linking words and phrases

6 The gains of trade Εach person consumes goods and services produced by many other people both in our country and around the world. Interdependence and trade are desirable because they allow everyone to enjoy a greater quantity and variety of goods and services.

7 The gains of trade Glossary consume: use goods and services/ καταναλώνω goods: merchandise/ εμπορεύματα services: intangible goods/υπηρεσίες interdependence: depending on each other/ αλληλοεξάρτηση trade: the act of buying and selling goods and services either on the domestic or international markets /εμπόριο quantity: the property of things which can be measured; amount, sum or number/ ποσότητα variety: a number of different types of things/ ποικιλία

8 Comparative advantage Τhere are two ways to compare the ability of two people in producing a good. The person who can produce the good with the smaller quantity of inputs is said to have an absolute advantage in producing the good. The person who has the smaller opportunity cost of producing the good is said to have a comparative advantage. The gains of trade are based on comparative advantage. Trade allows people to specialize in those activities in which they have a comparative advantage.

9 Comparative advantage Glossary inputs: factors of production, resources/πόροι, συντελεστές παραγωγής absolute advantage: a business situation in which a provider of goods or services is more efficient than all of its competitors, by having a smaller total input per unit of output/απόλυτο πλεονέκτημα opportunity cost: the loss of potential gain from other alternatives when one alternative is chosen/κόστος ευκαιρίας ή εναλλακτικό κόστος comparative advantage: the ability of an individual or group to carry out an economic activity, such as production, at a lower cost and more efficiently than another entity / συγκριτικό πλεονέκτημα gains: profits; advantages; progress or advancement/ οφέλη specialize (in sth): become a specialist; give particular attention to /ειδικεύω-ομαι, εξειδικεύω

10 Organizing for international business A firm that has decided to enter international markets can do it in several ways: Licensing Joint ventures Exporting Totally owned facilities, and multinational firms. These different approaches require varying degrees of involvement in international business.

11 Licensing Licensing is a contractual agreement in which one firm permits another to produce and market its product and use its brand name in return for a royalty or other compensation.

12 Licensing Glossary licensing: a business arrangement in which one company gives another company permission to manufacture its product for a specified payment / άδεια, προνόμιο contractual agreement : legally binding arrangement between parties regarding a course of action/ συμφωνία βάσει συμβάσεως brand name: a word, name, etc., used by a company to identify its products or services distinctively / μάρκα (εμπορεύματος) in return for: as repayment for/ σε αντάλλαγμα, σε ανταπόδοση royalty: sum paid to the owner of a copyright or patent/ δικαιώματα εκμετάλλευσης compensation: something given or received for services, debt, loss, injury, etc.; indemnity; reparation; payment/ αποζημίωση

13 Joint ventures A joint venture is a partnership formed to achieve a specific goal or to operate for a specific period of time. A joint venture with an established firm in a foreign country provides immediate market knowledge and access, reduced risk, and control over product attributes. Joint venture agreements generally require a high level of commitment from all the parties involved.

14 Joint ventures Glossary joint venture: a business enterprise undertaken by two or more persons or organizations to share the expense and profit of a particular business project/κοινοπραξία partnership: a legal relation existing between two or more persons contractually associated as joint principals in a business /εταιρία established: having firm foundation and wide recognition/ καθιερωμένο, αξιόπιστο attributes: something that sets apart a product from others of the same kind / χαρακτηριστικό γνώρισμα commitment: adherence to something to which one is bound by a pledge or duty/ δέσμευση, υποχρέωση be/get involved in sth: be connected wit sth or sb/ εμπλέκομαι

15 Exporting A firm may manufacture its products in its home country and export them for sale in foreign markets. The exporting firm may  sell its products to an export/import merchant, which is essentially a merchant wholesaler. The merchant assumes all the risks of product ownership, distribution, and sale.  ship its products to an export/import agent, which arranges the sale of the products to foreign intermediaries for a commission or fee.  establish its own sales offices, or branches in foreign countries. These installations are international extensions of the firm’s distribution system. Importing and exporting are the principal activities involved in international trade and give rise to an important concept called the balance of trade.

16 Exporting Glossary exporting : selling and shipping raw materials or products to other nations/εξαγωγική δραστηριότητα importing: purchasing raw materials or products in other nations and bringing them into one’s own country/ εισαγωγική δραστηριότητα ship: transport, esp by ship / μεταφέρω εμπορεύματα manufacture: he process of making products especially with machines in factories/ κατασκευάζω merchant: a buyer and seller of commodities for profit ; trader/ έμπορος wholesaler: a person or company that sells things to businesses and not to individuals/ χονδρέμπορος ownership : the ιstate, relation, or fact of being an owner (having sth as property)/ ιδιοκτησία distribution: the act of delivering something to a store or business/διανομή, διάθεση (προιόντων) intermediary: acting as a mediator; middleman/ μεσάζων πρόσωπο, διαμεσολαβητής branch: a subdivision of a business organization/

17 Balance of trade Balance of trade is the largest component of a country's balance of payments. A nation’s balance of trade is the total value of its exports less the total value of its imports, over some period of time. If a country imports more than it exports, its balance of trade is negative and is said to be unfavorable, because the country experiences a trade deficit. A positive balance of trade occurs, when a country’s exports exceed its imports and it enjoys a trade surplus.

18 Balance of trade Glossary balance of trade :the difference between a country's imports and its exports/ εμπορικό ισοζύγιο deficit: the amount by which an actual sum is lower than that expected or required/έλλειμμα surplus: a quantity or amount in excess of what is required /πλεόνασμα exceed: to be greater, as in quantity or degree/ υπερβαίνω, ξεπερνώ

19 Balance of payments A nation’s balance of payments is the total flow of money into the country less the total flow of money out of the country, over some period of time. Balance of payments is thus a much broader concept than balance of trade. It includes exports and imports but also investments, money spent by foreign tourists, payments by foreign governments and aid to foreign governments, and all other receipts and payments.

20 Balance of payments Glossary balance of payments: difference between the amount paid to foreign countries for imports and services and the amount received from them for exports/ισοζύγιο πληρωμών flow: continuous supply of sth/ροή investment: the use of money to buy shares, property, etc. in order to earn profit/ επένδυση aid: help/ βοήθημα receipts: money received by a business/ εισπράξεις payment: giving sb money for goods, services,etc. / πληρωμή

21 Trade Restrictions

22 Types of trade restrictions- Tarrifs Most trade restrictions are applied to imports from other countries: A tariff is a customs duty which is levied on a particular foreign product entering a country. This tax has the effect of raising the price of the product in the importing country. Because fewer units of the product will be sold at the increased price, fewer units will be imported.

23 Tariffs Glossary restriction: a restrictive measure, law, etc; limitation/ περιορισμός customs duty or tariff: a government tax, esp. on imports/ δασμός tax: a sum of money demanded by a government for its support or for specific facilities or services, levied upon income, property, sales, etc./ φόρος levy: impose (a tax)/ επιβάλλω

24 Types of trade restrictions - Anti-dumping duties Some countries rationalize their protectionist policies as a way of offsetting a practice by other nations called dumping. Dumping is exportation of large quantities of a product at a price lower than that of the same product in the home market. Thus, dumping drives down the price of the product in the home country. To protect themselves, domestic manufacturers can obtain an anti-dumping duty through the government to offset the advantage of the foreign product.

25 Anti-dumping duties Glossary rationalize :to justify (one's actions or beliefs) with plausible reasons, esp after the event/αιτιολογώ, δίνω λογική εξήγηση protectionist policies: (economics) the practice of fostering or developing domestic industries by protecting them from foreign competition through duties or quotas imposed on imports/ πολιτικές προστατευτισμού dumping: the practice of selling a product in a foreign country for less than either (a) the price in the domestic country, or (b) the cost of making the product/ ντάμπινγκ duty: a government tax, esp. on imports / δασμός offset: to counterbalance or compensate/ αντισταθμίζω

26 Types of Trade Restrictions Import quotas and foreign exchange control An import quota is a limit on the amount of a particular good that may be imported into a country during a given period of time. A foreign-exchange control is a restriction on the amount of a particular foreign currency that can be purchased or sold. By limiting the amount of foreign currency that importers can obtain, a government limits the amount of goods that importers can purchase with that currency.

27 Import quotas and foreign exchange control Glossary import quota: prescribed number or quantity, as of items to be imported / επιτρεπόμενο όριο εισαγωγών amount: quantity; total sum or value/ ποσό, σύνολο foreign exchange: foreign bills and currencies/ ξένο συνάλλαγμα currency: the medium of exchange that is in current use in a particular country / το νόμισμα μιας χώρας

28 Τέλος Ενότητας