| A | B |
|---|
| globalization | the tendency for the world economy to work as one unit |
| global | affecting or involving the whole world |
| infrastructure | the basic systems and structures that a country needs to make economic activity possible |
| grow | increase in amount or size |
| growth | an increase in amount or size |
| infant industry | an industry in its early stages of development |
| innovate | to design and develop new and better products |
| liberalize | to make a system or laws less strickt |
| mission statement | a short written statementintended to communicate an organizations aims to its customers |
| resources | all the money, property, skill, labour etc that a company has available |
| takeover | the act of getting control of a company by buying more than half of its shares |
| target | to make something have an effect on a particular limited group or erea |
| issues | important subjects that people discuss |
| profitability | the ability of a business to make money |
| welfare benefits | money paid by the government to people in need |
| flight of capital | a movement of large sums of money out of the country |
| acquisition | buying or taking over another company |
| joint venture | two or more companies join together to carry out a large project |
| consortium | a group of companies in similar businesses working together |
| franchising | giving someone the exclusive right to sell products in a certain erea |
| licensing | selling the right to a manufacture's trademark, usually in a forign market |
| local partner | a person or a company who cooperates with a foreign company who wishes to enter the market |
| subsidiary | a company partly or wholly owned by a parent company |
