Ex. 7. Use the words in the sentences of your own:

1. to manage, manager, management, managerial;

2. to economize, economy/economics, economist, economic, economical, economically.

Ex. 8. Mark the sentences that are true:

1. The managers according to their level within the company try to achieve the different things. 2. Leadership may be defined as the ability to influence the attitudes and behaviour of others sometimes with the use of force. 3. Management is the function that integrates the parts of the system and makes sure that they work together toward a desired purpose. 4. When directly creating products, a manager is performing the management function. 5. In between the highest and the lowest levels, managers are usually called managers, although their titles may also bear a prefix to show what type of managers they are. 6. Innovation is an ability to use new techniques, products, and approaches to business problems devised by other companies.

Ex. 9. Answer the questions to the text:

1. What is management?

2. Distinguish between management and managers.

3. What is the difference between managers in small and large companies?

4. Which essential skills should a manager have to be successful?

5. Why is communication so important to the directing function of management?

Topic 2. Management functions Task: read the text, get ready to render its content in English:

key	[ki:]	основной, ключевой
staffing	[stα:fıŋ]	набор штата работников
evaluate	[ı'væljueıt]	оценивать
continuously	[kƏn'tınjuƏslı]	непрерывно
recruit	[rı'kru:t]	нанимать
oversee	['ƏuvƏ'si:]	надзирать, наблюдать
goal	[ɡƏul]	цель, задача
determine	[dı'tƏ:mın]	определять, определить
overlap	[ˌƏuvƏ'læp]	частично совпадать
carry out	['kærı]	выполнять
backbone	['bækbƏun]	основа
explicit	[ıks'plısıt]	ясный, подробный
statement	['steıtmƏnt]	изложение, формулировка
objective	[Əb'ʤektıv]	цель, задача
requirement	[rı'kwaıƏmƏnt]	требование, необходимое условие
attain	[Ə'teın]	достигнуть, добиться
overall	['ƏuvƏrɔ:l]	всеобщий
long-term	['lɔŋtƏ:m]	долгосрочный
specify	['spesıfaı]	точно определять
equipment	[ık'wıpmƏnt]	оборудование
guide	[ɡaıd]	руководить
accomplish	[Ə'kʌmplıʃ]	совершать
omission	[Ə'mıʃ(Ə)n]	упущение
sequence	['si:kwƏns]	последовательность
(production) output	['autput]	выпуск продукции
costs	[kɔsts]	затраты, расходы, издержки

Managers typically perform four key functions for their businesses: (a) planning, (b) organising and staffing, (c) directing and coordinating, and (d) evaluating and controlling. The functions can be seen as a process continuously repeated in a cycle. Managers make plans to solve the problems and to take advantage of the opportunities presented to their companies. People are recruited to carry out the plans. Some kind of organisation indicating who works for whom and what each person's responsibilities are is set up. The manager oversees the operation of this organisation. He or she directs and coordinates the activities of those who work in it. Evaluations of how well the organisation is working toward its goals partially determine plans for future operations.

These managerial functions overlap and affect one another. While one plan or group of plans is being carried out, other plans are being made. The results of one effort influence the results of others. The evaluation of results leads to control, which influences other functions.

Planning is the backbone of every management effort. A plan, to a business manager, is an explicit statement of the business's future objectives combined with a step-by-step description of the actions that will be necessary to reach those objectives. The planning process centres on satisfying the two main requirements of this definition: clear goals and specific actions to meet them. The resulting plans for attaining the overall, long-term goals of a company are called strategic plans. The plans and procedures for reaching goals that are only a week, or month, or year away – those plans that involve what must be done from day to day – are operating plans.

Plans specify the actions to be taken; the way in which these actions will be carried out is determined by the organising function of management. Organising is the process of setting up the structure and rules to control the way resources – workers, material, machinery, and money – work together to reach objectives. Organising determines what authority each employee has, who will do what job, what methods and equipment will be used, and other specific rules, which determine how the work will be done.

Directing is the process of guiding and motivating people in the organisation to do the work needed to accomplish the company's goals. Another aspect of directing an organisation is the coordination of effort that all good managers try to achieve. Coordination attempts to avoid duplication of effort or omission of some essential activity. It insures that various parts of a total effort will take place at the right time and in proper sequence.

The final function of management is controlling. It requires evaluating the performance of the firm and its parts and making changes to improve operations. Controlling compares actual results of operations – sales, production output, costs, product quality, and employee performance – with performance goals or standards.

After identifying the problems and contributing causes, management must take action to correct them. The control function then gives way to the planning function. All of these questions, in the typically successful business, will begin yet another turn of the continuing management cycle or system of planning, organising, directing, and controlling.