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Exercise 1 Complete the following sentences with suitable words from the box

below:

Stock Exchange	public limited company		shares
shareholders	limited liability	sole trader	partnership

1. People who own shares in a company are called ... . 2. If you start working for yourself, you are called a…… 3. Any two or more people can get together to form a ... . 4. When the money one could possibly lose in a business cannot go beyond a certain limit one speaks of ... . 5. The price of shares on the ... is reported in most daily newspapers. 6. In a ... there is no restriction on the number of its members. 7. Public companies sell their ... to anyone prepared to pay the going price.

Exercise 2 Translate the following sentences into Russian paying attention to

the underlined words.

1. New opportunities are being presented in the non-profit as well as profit-seeking organisations. 2. Of the 600,000 new businesses born each year, only half live as long as eighteen months and only one in five lives as long as ten years. 3. As soon as the manager left the office there was a phone call for him. 4. As many as 50 employees may form a partnership. 5. As far as I know nobody wants to buy shares of this PLC. 6. Government should interfere as little as possible in economic affairs.

Exercise 3 Translate the following sentences into Russian paying attention to

the ing-forms.

1. When designing the structures of new organisations or redesigning existing structures, managers must choose from among alternatives. 2. All of us spend a good part of our lives managing or being managed within an organisation. 3. Graduates of business schools no longer restrict their job seeking to industrial and service organisations. 4. Having left the company, he became the founder of a new

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firm. 5. The first problem facing a manager is defining who will accomplish each particular task. 5. The talented chef can make more money by running a bistro than by working for another owner. 6. There are more than 18 million different businesses in America, most of them being owned by a single person. 7. In some firms there are no offices, only shoulder-high partitions separating office work space. 8. Often a business requires lawyers or doctors specialising in different areas. 9. In a market economy, production is organised in firms, sole traders being the most common type. 10. Small businesses suffer from the fundamental disadvantage of being unable to accumulate large amounts of capital. 11. Small businesses can quickly adapt themselves to changing demands. 12. People fail because they jump into a business without knowing the market. 13. Becoming one’s own boss is a powerful motive to start one’s own business. 14. Having considered the advantages and disadvantages of each variant, the manager came to a final decision.

Exercise 4 Translate the following sentences into Russian paying attention to

Participle II.

1. Dividends paid for each share were not high. 2. Plans set earlier were changed according to the new situation on the Stock Exchange. 3. The business owned by the family was not successful. 4. If properly managed, the firm will be able to pay high dividends. 5. When asked about paying his debts he could not say anything definite. 6. Run by the government, the hospital needed additional funding. 7. Today, in a private-enterprise economy, most funds for production come from company profits or from money borrowed in financial markets.

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UNIT 5 AREAS OF MANAGEMENT

Read the text and answer the questions/complete the tasks (1-6)below.

There are several functional areas of management in an organisation. Production (Operations) management (P/ OM) is the process of creating

products and/or services. It deals with the conversion of input resources (raw materials, energy, people, equipment, buildings, etc.) into product output (goods or services that consumers purchase). The term ‘production’ is used more often when one speaks of the process of goods production at a plant. The term ‘operations management’ is broader. It means any production activity - either goods-producing or service-producing. Primary concerns of P/OM are the questions of labour productivity, supplies and quality.

Marketing management deals with pricing, product promotion and distribution, market research and the study of consumer psychology. Marketing function is very important for many organisations.

Financial management deals with organisation’s financial resources. Its task is to use them effectively as well as to attract credits and work with securities: shares, bills and bonds. It also distributes company’s profits.

Human resource management (HRM) is one of the most important aspects of management. Without the right people no organisation can attain its objectives and survive. HRM deals with recruitment, hiring, promotion, rewarding of the employees as well as their training, retraining, laying off and retiring.

Research and development (R&D) management deals with new product development, product design and other applied research projects.

All functional areas of an organisation are interdependent and interconnected.

1. What does Production (Operations) Management deal with? 2. Which questions are a priority in P/O? 3. What is Marketing Management concerned with? 4. What is the task of Financial Management? 5. What does HRM deal with? 6. What is the purpose of R&D Management?

Exercise 1 Complete the following sentences using suitable words in the box

below.

HR manager

HR management P/O managers

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financial managers

inputs

recruitment

to lay off

1. In some businesses such as banking ... are found in especially large numbers.

2. ... is the process of accomplishing organisational objectives by acquiring, retraining, terminating, developing and properly using employees. 3. Producing enough goods and services to meet demand is the primary task of ... . 4. Material, human, financial and information ... are transformed into products and services. 5. When a company is small, the owner performs the functions of hiring, training, and compensating himself. As it grows in size and complexity, he hires a ... to perform these functions. 6. When organisations are faced with an economic downturn (спад), a common practice has been ... employees to cut costs. 7. ... is the process of attracting potential employees to apply for open positions.

Exercise 2 Translate the following sentences into Russian paying attention to

Modal Verbs and their Equivalents.

1. Managers must coordinate the activities of the entire organisation. 2. Employees should be rewarded for the successful attainment of objectives. 3. If we are to succeed in the organisational society we must understand the nature of collective behaviour. 4. In order to be an effective manager you will have to be an effective leader. 5. The need for personal growth cannot be satisfied in an organisation that does not have an active employee development program. 6. The small business manager just may not have the managerial and financial resources to deal with difficult situations when they arise. 7. Managers must be able to achieve their objectives. 8. At the beginning of the 20-th century automobiles were a luxury that only rich people could afford. 9. Western Electric Company, manufacturer of communications equipment, hired a team of Harvard researchers who were to investigate the influence of physical working conditions on workers’ productivity and efficiency in one of the company’s factories outside Chicago. 10. The company had to lay off many employees, both blue collars and white collars.

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Exercise 3 Translate the following sentences into Russian paying attention to

the underlined words.

1. The term «operations management» means the production activity in any organisation either goods-producing or service-producing. 2. The company has cut both direct and indirect manufacturing expenses. 3. Aesthetic pleasure in an art gallery is just as meaningful from a managerial viewpoint as an automobile or a tube of toothpaste. 4. There are probably as many definitions of management as there are books on the subject. 5. Staff managers can have both advisory and service duties. 6. Neither blue collars nor white collars were able to avoid the laying off procedure.

Exercise 4 Make up sentences using the words from each column and the

example.

Example: Production Management deals with creating products or services.

1.	Production/Operation	a product promotion and distribution
Management		b laying employees off
2. Human Resource Management		c distribution of company’s profits
3.	Research and Development	e product development
4.	Financial Management	d the conversion of input resources
5. Marketing Management		into product output
	REVIEW AND	DISCUSSION	POINTS

1.Characterize every area of management and its main tasks.

2.How does a change in one functional area affect others? For example, if production lowers quality what will be the effects of this in financial, marketing and HRM areas of an organisation?

3.Why is the HRM considered to be a strategic requirement?

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UNIT 6 LEVELS OF MANAGEMNT

Read the text and answer the questions/complete the tasks (1-8)below.

Managers are traditionally classified within three categories, depending on a level they work on. Top managers work on a strategic (institutional) level, which is the highest organisational level. They have such titles as President, Director, Chairman or Chief Executive Officer (CEO). Top managers are responsible for the organisation as a whole or for a large segment of it. They control the work of the organisation, make major decisions and long-range plans and support relations with the outside world.

Another group of managers is middle managers, working on a managerial (tactical) level. They are often in charge of a large unit of an organisation, having many subordinates under them. Middle managers’ titles include plant manager, operations manager, department head, dean (in a university college), and branch manager. They are responsible for carrying out the policies and plans formulated by top managers. They make day-to-day decisions which help the organisation run effectively. They also supervise the activities of the first-line (supervisory) managers, working on a technical (operational) level. Some typical titles of this level are foreman, shift boss, supervisor, sergeant/sector head, and office manager. They are usually responsible for operations and activities required for efficient production or services.

1. How are managers traditionally classified? 2. Give examples of top managers. 3. What are top managers responsible for? 4. What are middle managers in charge of? 5. Give some examples of middle managers’ titles. 6. What are their typical responsibilities? 7. What do middle managers supervise? 8. Give some examples of first line managers’ titles.

Exercise 1 Complete the following sentences using suitable words or phrases

for the box below.

first-line managers middle managers			top managers
levels	subordinates	supervisors	entrepreneur

1. The group of people working below the top managers are generally called ... 2.

Most organisations function on three ... . 3. ... is the creator and chief executive of

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a business enterprise. 4. ... officially represent the organisation to the external environment by meeting with government officials, executives of other organisations and so on. 5. Middle managers coordinate the activities of the ... . 6.

... have workers-nonmanagers as subordinates. 7. Managers get work done through

... .

Exercise 2 Translate the following sentences into Russian paying attention to

comparatives and superlatives.

1. Those who occupy the highest level in management jobs tend to have the broadest responsibilities and the widest network of interactions. 2. Top managers spend less time in actual operating situations and are concerned with broader aspects of the organisation. 3. Many big companies today select their brightest and most capable young employees to make them the top managers of tomorrow. 4. It is the most effective style of decision making, yet the riskiest. 5. The higher the risk you take, the more money you could make.

Exercise 3 Translate the following sentences into Russian paying attention to

the predicates containing should, would.

1.If we could get food, clothes and shelter without working, we probably would not work. 2. In any business it is important that managers should be effective.

3. She called the boss to tell him that she would have finished the work in two weeks. 4. He should find out whether it would be possible to open up a new market in another country. 5. I wouldn’t be here if I hadn’t an appointment.

6. Neither the Great Wall of China nor the Parthenon would have been built without planning, organising, leading and controlling. 7. If we had installed the new equipment we would have received more profit. 8. Many common business practices would be called dishonest by the man in the street. 9. Had you enough time, money and energy you would be able to make any person an effective first-

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line manager. 10. Should the new system not work as expected, manager would

begin to worry.

REVIEW AND DISCUSSION POINTS

1.What is the difference between the managers’ jobs at the top, middle and firstline levels at the university you attend?

UNIT 7 ORGANISATIONAL STRUCTURE

Read the text and answer the questions/complete the tasks (1-7) below.

In order to attain its objectives effectively each organisation must be divided into smaller working units, called departments or divisions.

At the head of an organisation is usually the Board of Directors elected by the shareholders. The Board plans the strategy of the organisation and makes major decisions. It is headed by the Chairman or General Director (President in the USA), who is accountable to the Board and shareholders. The Board selects the Managing Director (American terms: Senior Vice President or Chief Executive Officer) who is responsible for the day-to-day running of the company in accordance with the policy agreed by the Board. The Managing Director is supported by Directors (Vice-Presidents), responsible for the running of large segments of work of the organisation. The most important of them are Production (Manufacturing) Director, Sales and Marketing Director, Financial Director.

Directors (Vice-Presidents) are assisted by Managers (Directors), who are at the head of divisions or departments. Production Department, headed by Production Manager, takes care of goods production. Marketing Department, headed by Marketing Manager, takes care of market investigations. Sales Department, headed by Sales Manager, takes care of selling goods. Financial Department, headed by Financial Manager, takes care of payments. These are the main departments with line functions.

Departments with staff functions include R&D Department, headed by R&D Manager; Accounts Department, headed by the Chief Accountant; Personnel Department, headed by Personnel (Human Resource) Manager.

There may be other departments in a company: Quality Control Department, Legal Department, Advertising Department, Logistics Department; several departments may work under one Director.

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Departments are divided into sections.

1. What is the purpose of dividing organisations into working units? 2. Describe the role of the Board of Directors. 3. Who is the Board of Directors headed by? 4. What is the difference between the Managing Director and Chief Executive Officer? 5. Compare the role of the Managing Director and Directors. 6. Describe the functions of: Production Department, Marketing Department, Sales Department, and Financial Department. 7. Give examples of departments with staff functions. How do they differ from departments with line functions? 8. What other departments may there be in a company?

Exercise 1 Complete the following sentences using suitable words or phrases

from the box below.

Working unit	Accounts Department	Board of Directors
Personnel Manager Managing Director		R&D Department

1. ... is a person of high rank in an organisation usually next in importance to the

Chairman. 2. ... takes care of new product development. 3. The work of the ...

stretches from the point of recruitment to the point of retirement and, in some companies even beyond these two points. 4. A group of people elected by the shareholders to run a company is called ... . 5. In small companies the ... is often responsible for far more than keeping the books and looking after the cash flow.

6. A business organisation is a system composed of different… .

Exercise 2 Translate the following sentences into Russian paying attention to

the Infinitives.

1. To be successful, managers have to know what the customer market wants. 2. Since an organisation has a variety of tasks to be performed, its employees must be divided into groups to perform them. 3. Because of unemployment, people have less money to spend and save. 4. To solve this problem, top management developed a single integrated financial information system. 5. This problem was

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simple to recognise yet difficult to solve. 6. Some customers saw this company as a newcomer not to be trusted. 7. A Personnel Manager should always be available to give advice on personal matters to any employee. 8. The price to be paid was in the buyer’s currency. 9. The topic to be discussed at the meeting was how we can get public servants to be motivated to do a good job. 10. The lesson to be learned is that good plans do not automatically lead to desired results.

Exercise 3 Translate the following sentences into Russian paying attention to

The Infinitive Constructions.

1.Each employee is sure to know his job title and place in the organisation.

2.The Managing Director is supposed to run the organisation. 3. The Company

Secretary wants the Board to have information about the Company’s trading position. 4. Managers are said to plan, organise and control. 5. The Managing Director expected the Personnel Manager to make the plan of training employees. 6. Most people think conflicts in a company to be bad. 7. The employees of major Japanese corporations are known to spend their entire careers in one and the same company.

Exercise 4 Translate the following sentences paying attention to Conjunctions.

1. In order to attain its objectives effectively each organisation must be divided into departments. 2. Since all entrepreneurs select the objectives of an organisation and run it at the beginning, they can be called managers in the broad sense. 3. Although conflict can be a major problem, certain kinds of conflicts may be useful. 4. If an applicant has the right qualifications and abilities he might be invited for a job interview. 5. Temporary employment is cheaper for a company, as many fringe benefits (дополнительные надбавки к зарплате) do not have to be paid. 6. Human Resource Management is called the backbone of an organisation because it provides the human capital without which it is impossible to do business.

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