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21.Explain what the term manager means, and identify different types of managers.

Types of managers

  • Functional and General managers

  • Administrators

  • Entrepreneurs and Small-Business Owners

  • Team Leader

Functional managers supervise the work of employees engaged in specialized activities, such accounting, engineering, information systems, food preparation, marketing, and sales. A functional manager is a manager of specialists and of their support team, such as office assistants.

General managers are responsible for the work of several different groups that perform a variety of functions, e.g. a plant general manager. Reporting to the plant general manager are various departments engaged in both specialized an generalized work, such as manufacturing, engineering, labor relations, quality control, safety, and information systems.

An administrator is typically a manager who works in a public (government) or nonprofit organization rather than in a business firm. Among these man­agerial positions are hospital administrator and housing administrator.

An employee is not an administrator in the managerial sense unless he or she supervises others.

An entrepreneur is a person who founds and operates an innovative business. You need an innovative idea to be an entrepreneur.

Similar to an entrepreneur, the owner of a small business becomes a manager when the firm grows to include several employees.

A major characteristic of both entrepreneurs and small-business owners is their passion for the work.

These types of managers will usually have a single-minded drive to solve a problem.

To understand what managers do is to regard (рассмотреть) their work as a process.

A process is a series of actions that achieve something (making a profit, provide a service, etc.)

To achieve an objective, the manager uses resources and carry out four major managerial functions.

A manager’s resources. Can be divided into four types:

  • Human

  • Financial

  • Physical

  • Informational

22.Describe the nature of business strategy.

Business strategy acts as a planning and organizational tool, helping companies set goals and objectives for long-term growth and development. Business strategy exists in two primary types, which are generic or general strategies and competitive strategies. Strategies act as outlines, helping businesses set goals several years out, then plan necessary actions, expenditures and tools necessary for achieving those goals.

Small companies and large organizations alike use business plans for managing finances and allocating resources. These plans typically cover periods between three and five years. Business strategies serve as forecasting tools, letting businesses determine potential scope of expansion, whether that entails opening up additional locations or producing higher volumes of products. Business strategies involve making future projections for growth and activity by considering past performances and fundamental values.

Strategy meetings often involve revisiting mission and value statements, which set forth basic business goals. General strategies set forth general plans for business growth, while competitive strategies identify specific means of reaching those targets. These strategies involve a plan of action, such as ramping up production or introducing products. Competitive strategies help companies outperform rivals, accomplished by offering similar products at lower prices or producing different products. Top management oversees creation and implementation of business strategies, which require coordinated efforts among internal departments.

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