Management and organization

Management is one of the most exciting, interesting, and rewarding professions. The men and women who manage business firms play an important part in shaping the world we live in.

The management process consists of coordinating the processes of planning, organizing, directing, and controlling business activities.

Each manager regardless of his or her position in the chain of command is responsible for bringing together the factors of production in such a way as to achieve the goals and objectives of the organization. To reach company goals and objectives, managers plan for the future, organize the enterprise, direct the human resources, and control the overall business operation.

Depending on its size, an organization may employ a different number of specialized managers who are responsible for particular 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 organization's goals.

Most large businesses consist of three levels of management:

- top or executive management;

- middle or administrative management;

- supervisory or first-line management.

Top managers consist of members of the board, the president or chief executive officer, and other top executives who are charged with the responsibility of making broad, long-range plans for the organization. Top managers should possess more conceptual and human skills rather than technical skills.

Middle managers are charged with the responsibility for developing operating plans that implement the broader plans by top managers. These managers need an equal level of conceptual, human, and technical skills. Supervisory managers supervise the day-to-day operations of the business and are required to have more technical skills, because they are dealing directly with production operations. However, all levels of management need people or human skills.

An executive is an individual in top management responsible for the work performed by others under their supervision. Executives give orders, make decisions, and set company policy.

Active vocabulary

rewarding – поощрительный

to shape - создавать, формировать

to coordinateкоординировать, согласовывать

to direct -руководить, управлять

command – контроль

ability - способность

factors of production – факторы производства

to supervise - наблюдать, контролировать

overall – полный, общий

top management- высшее руководство

executive management – административное управление

middle management – среднее звено управления

supervisory – наблюдательный, контролирующий

supervisory management – нижнее звено управления

chief executive officer – главный исполнительный директор компании

to implement – выполнять, осуществлять, претворять, внедрять

responsibility – ответственность

to achieve (to reach)– достигать

to possess – обладать, владеть

to charge with – поручать, вверять

enterprise – предприятие

skill - практический опыт, квалификация, умение. мастерство

board of directors – совет директоров

objectives – цели

long-range plan – долгосрочный план

profitability – прибыльность, доходность

investment – инвестиция, капиталовложение, инвестирование

return on investment – прибыль на вложение средств

managerial – директорский, относящийся к управлению

efficiently – эффективно, умело

to occur – случаться, происходить

to set - устанавливать, размещать