Additional Vocabulary
| Sales manager | |
| Financial standing | |
| Turnover (~ of capital / labour ~) | ( / ) |
| Research & Development (R & D) | (- - ) |
| Subsidiary company (syn. affiliate) | ( ) |
| Branch | , |
| Meeting of Shareholders (Stockholders) | |
| Board of Directors | () |
| Draft (of) Contract | |
| To join (~ account / ~ stock company) | , ( / ) |
| To establish a business | , |
| To run a business | , |
| To close down a business | , |
| To form / to set up a company | , |
| To register a company | |
| Listed / unlisted company | , / |
| Headquarters | - |
| Deputy | |
| Staffing |
Ex. 1.3. Imagine that you are a President of a firm. Use the names of the job positions and try to draw the scheme describing the structure of your company (departments / positions). Add to your story the answers on the questions written below.
Boards of Directors
President
Chief of the Credit Department
Executive Vice-President
Product Research Manager
Marketing Research Manager
R&D Manager
Sales Manager
Production Manager
Controller
How many departments are there at the company?
How many managers work at the company?
What is in your opinion the most important department?
Are there any overseas branches?
Ex. 1.4. In the box you see the list of responsibilities of each department of the company. Match the department with its possible functions enumerated below.
| Human Resources | Production | Marketing | Finance |
| Training Personnel | Production | Marketing | Purchasing |
| Packaging | Sales | Customer Accounts | |
| Wages & Salaries | Quality Maintenance | After-sales | |
| Distribution | Financial Services | ||
| Advertising |
Which department or division does the following?
| - buys supplies | - checks the quality |
| - sells the products | - sends invoices to the customers |
| - plans how to sell new products | - takes care of the machines |
| - organizes training courses | - pays the staff |
| - recruits new employees | - is responsible for after-sales care |
| - sends the products to the customers | - deals with taxation payments |
| - packs the products | - runs advertising campaigns |
| - manufactures the products |
Ex. 1.5. Discuss your companys problems in a form of a short dialogue.
|
|
|
You are having a meeting with your colleagues about discussing some of your problems. Take it in turns to start discussions on these subjects.
| Problem | Alternatives | ||
| Company English classes | Employ a teacher | or | Send a staff to a language school |
| The paperwork | Buy another computer | Recruit a secretary | |
| Company cars | Rent them | Buy them | |
| The pay deal | Offer a 10% salary increase | Offer a 5% and a productivity bonus | |
| Office cleaning | Employ cleaners | Contract the work out |
2.1. *Additional Reading. Read and translate the following text. Before reading study some new words and word combinations on the topic.
| Sole | |
| Proprietorship | |
| To be concerned (with) | , |
| Assembly line | |
| Assets | |
| Incentive | , |
| Lengthy | |
| Paid vacation | |
| To meet obligations | |
| Grocery store | |
| Wholesaler | |
| Endowment | , |
| Utility | |
| Insurance premium | |
| Consumer market | |
| Competitor |
Definition of Management
Management is based on scientific theories and today we can say that it is developing science.
But knowledge of theories and principles doesn't provide practical results. It is necessary to know how to apply this knowledge. Practical application of knowledge in the management area requires certain abilities or skills. Here is an example:
Depending on its size, an organization may employ number of specialized managers who are responsible for particular areas of management. Very large organization may employ many managers, each responsible for activities of one management area. In contrast, the owner of sole proprietorship may be the only manager in the organization. He or she is responsible for all 1evels and areas of management.
What is important to an organization is not the number of managers it employs but the ability of these managers to achieve the organizations goals, and this ability requires great skill.
In other words, management is the process of coordinating the resources of an organization to achieve the primary organizational goals.
MAIN RESOURCES
Managers are concerned with the following main resources:
1. Material resources are physical materials and the equipment used by an organization to make product. For example, cars are made on assembly lines. These assembly lines and the buildings that house them are material resources.
2. The most important resources of any organization are the human resources l. Some firms believe that their employees are their most important assets. keep employees content, variety of incentives are used, including higher-than-average pay, flexible working hours, recreational facilities, lengthy paid vacations, cafeterias offering inexpensive meals, etc.
3. Financial resources are the funds the organization uses to meet its obligations to various creditors. A grocery store obtains money from customers and uses a portion of that money to pay the wholesalers from which it buys food. large bank borrows and lends money. A college obtains money in the form of tuition, income from its endowments, and federal grants. It uses the money to pay utility bills, insurance premiums and professors salaries. Each of these transactions involves financial resources.
|
|
|
4. Finally, many organizations increasingly find they cannot ignore information. External environment - including the economy, consumer markets, technology, politics and cultural forces are all changing so rapidly that an organization that does not adapt will probably not survive. And, to adapt to change, the organization must know what is changing and how it is changing. Companies are finding it increasingly important to gather information about their competitors in today's business environment.
It is important to realize that these are only general categories of resources. Within each category are hundreds or thousands of more specific resources, from which management must choose those that can best accomplish its goals. Managers must coordinate this complex group of specific resources to produce goods and services.
