Read the text again and choose the best endings to the following statements.

1. In a small one-person business the chief decision maker has to delegate daily
“fire fighting” to

a) the specialized staff

b) himself

c) the vice-president

2. The title General Manager refers to an individual who has ....

a) little responsibility

b) overall responsibility

c) partial responsibility

3. The general manager's goal is to delegate as much responsibility and authority
as possible to....

a) subordinates

b) the board of directors

c) the owner of the company

4. The general manager makes decisions that subordinates cannot make because
they lack ....

a) enough responsibility

b) experience

c) a broad perspective on the issues

5. The general manager must be free for....

a) the daily routine

b) the major decisions

c) the presentation purposes

6. The general manager must understand ....

a) all functional areas

b) some functional areas

c) only human resources management

3. Complete the unfinished questions in column A that are answered in
column B.

AB

What... ? The coordination of all aspects of business into an integrated

program.
Where ... ? In a small one-person business.

Where... ? In larger firms.

How many... ? Four.
Where... ? In human resources.

4. Translate into English:

1. Главный менеджер должен координировать все аспекты бизнеса.

2. В больших фирмах обязанности главного менеджера выполняют прези­дент, управляющий директор, вице-президент, администрация и т.д.

3. Долгосрочное планирование новых изделий, производственные процессы, новые рынки, организационные изменения являются обязанностями главно­го менеджера.

4. Главный менеджер принимает основные решения, касающиеся всей
компании.

5. Целью главного менеджера является координация различных видов дея­тельности компании.

6. Он должен быть особенно компетентен в области человеческих ресурсов.

7. Для адекватного выполнения своих функций необходимо тщательно и объективно оценивать работу компании.

8. Он работает в области стратегической формулировки задач и их стратеги­ческого воплощения.

9. Его обязанности меняются в зависимости от обстоятельств.

10. Иногда несколько человек занимаются общим управлением.

5. Complete the sentences. Put the verbs into the future with “will”.
Mind the word order in questions.

1. They ... to ensure that the necessary funds are available? (need)

2. They ... key staff to whom they ... the authority to run the business. (appoint, delegate)

3. They ... to design an effective organization structure? (need)

4. Acquire and satisfy customers and you ... and satisfy investors. (attract)

5. The type of information that a specific user ... depends upon the kinds of decisions that person must make. (require)

6. Outsiders, on the other hand, ... summarized information concerning resources and information on operating results. (need)

6. Complete the sentences using one of these verbs in the future simple
tense: make, check, motivate, give, influence, make. Mind the use of the
active or passive voice.

1. The general manager ... decisions that subordinates cannot make.

2. Many managers believe workers... to achieve organizational goals by satisfying their fundamental needs for material survival.

3. Every now and then he ... to see whether or not the ship is on course.

4. The interest rate ... by the interest rate which is quoted from time to time by the Bank of England.

5. A rise in the interest rate ... borrowing more expensive and saving more attractive.

6. Banks ... normally statements to both deposit and current account holders about once every three months.

7. Fill in the gaps with the prepositions of, for, in, with, to, on, from or at.

IV. Speaking practice

Get ready to speak in detail about management.

2. Discuss in pairs:

– managerial functions;

– the responsibilities of a general manager.

V. Written Task

Translate into Russian using a dictionary.

FINANCIAL MANAGEMENT

There are five basic financial goals: profitability, stability, liquidity, efficiency, and growth. To survive, every business must meet each of these goals to some extent, though a business must determine for itself the relative emphasis to place on each of the five goals.

Profitability refers to the generation of revenues in excess of the expenses associated with obtaining it. This is the “bottom-line” test of how successful a firm's operators have been as shown at the bottom of the income statements.

Stability refers to a business's overall financial structure. For example, a businessman may wish to invest as little of his own money as possible in his firm and finance his operation mainly with debt. If the debt-equity mix is too out of balance, the firm may go bankrupt should some of the creditors want their money

back at an “inconvenient” time. Many of the spectacular financial disasters reported in the newspapers resulted from neglect of the stability goal of sound financial management.

Liquidity refers to a business's ability to meet short-term obligations. For example, a manager may wish to invest as much of his firm's cash in inventory and equipment as possible, but if he overdoes it and cannot pay his employees or creditors on time, he can be forced into bankruptcy.

Efficiency refers to the efficient use of assets. Efficient use of assets has an impact on profitability, stability, liquidity, and the ability of the enterprise to grow.

Growth refers to increasing in size or acquiring more of something. A businesswoman may assess her financial performance by calculating, for example, how much sales or assets have increased this year over last year. While there are many widely held concerns about growth in general (for example, the zero population growth movement) business people and investors remain very interested in financial growth.

There are no clear-cut guidelines on how much or how little financial performance is adequate or on how to trade off performance on the financial goal in favour of another. For example, 10 percent sales growth may be terrible for a firm in one industry but excellent for a firm in another. Similarly, a high level of liquidity may be preferable to growth for a firm at one time and detrimental for the same firm at another.

Financial analysis and management is not just number pushing; judgment must be exercised as to what numbers to look at and how to interpret them. Often, a “qualitative factor”, something not expressed in numbers, is more important to the solution of a problem than all the numbers involved.

*2. Translate from Russian into English in a written form.

Слова “менеджмент”, “менеджер” широко применяются в деловой и даже повседневной жизни.

Английское слово “менеджмент” переводится на русский язык как “управление, организация, руководство”. В общем плане оно означает упра­вление, т.е. организацию и руководство тем или иным видом деятельности: производством, экономикой, финансами и другими сферами деловой жизни человека.

В зарубежной литературе имеется много определений понятия “менеджмент”. Приведем три из них:

– достижение целей организации посредством скоординированных усилий работающих в ней людей;

– особый вид деятельности, превращающий неорганизованную толпу в эффективную, целенаправленную и производительную группу (организацию);

– процесс планирования, организации, руководства и контроля для достижения целей организации посредством скоординированного использо­вания человеческих и материальных ресурсов.

И хотя эти определения очень различны, они тем не менее имеют три общие черты: обязательное наличие цели при управлении; особый, интел­лектуальный характер этого вида деятельности; управление имеет место в организации. В третьем определении дополнительно к перечисленным чер­там содержание менеджмента характеризуется как совокупность пяти про­цессов: планирования, организации, руководства, координации и контроля.

УЧЕБНЫЙ ЭЛЕМЕНТ 3 (УЭ-3)

JOBS AND CAREERS (вариант I)

“WHAT IS A MANAGER”

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