Английский язык в сфере менеджмента. Учебное пособие
.pdfEx. 2. Read and translate the text « Entrepreneur».
ENTREPRENEUR
Most small-business entrepreneurs are included in the wide definition of "entrepreneur" that is frequently used. The two groups have certain similarities, and we'll see that some of the motivations for starting a small business or becoming an entrepreneur are extremely similar. Yet managing a small business differs from being an entrepreneur. In order to start a new business or significantly alter the scope and direction of an existing one, entrepreneurs must take a risk. Entrepreneurs are often inventors who launch businesses to develop their concepts for novel goods or services. They are trend-spotters with vision.
Although though small-business owners can also be entrepreneurs, not all small-business owners are entrepreneurs.
Managers or individuals with technical knowledge who launched a business or acquired an existing one and made the conscious decision to remain small are considered small-business owners. A small business owner is someone like the owner of your neighborhood independent bookshop, for instance. The creator of Amazon.com, Jeff Bezos, also offers book sales. The web-based book-retailing model that Bezos created, however, changed the bookselling industry before he went on to alter retailing in general. Entrepreneurs tend to perceive things more long-term than small-business owners do, and they are less likely to accept the status quo.
Why Start Your Own Business?
Entrepreneurs can be found in all sectors of the economy and have a variety of business goals. The difficulty of starting a firm is the most typical motivation given by CEOs of the Inc. 500, the magazine's annual list of the fastestgrowing private companies. This is followed by the desire to have control over one's own future. Financial freedom and the annoyance of working for someone else are further justifications. A sense of personal pleasure with their employment and building the lifestyle they want are two significant reasons stated in other studies. Do business owners believe starting their own company was worthwhile? Without a doubt, the answer is yes. The majority claim they would repeat it.
What traits do successful businesspeople have in common?
Do you have what it takes to start your own business? A fantastic idea alone is insufficient. An entrepreneur needs to be able to build and run the business that carries out his or her idea. In addition to administrative and technical proficiency, becoming an entrepreneur calls for a unique combination of drive, tenacity, enthusiasm, and an adventurous spirit. In addition to working longer hours and taking fewer vacations, entrepreneurs are often unable to leave troubles behind when they leave the office for the day. They also have more traits in
41
common, which are listed in the next section. Studies of the entrepreneurial personality find that entrepreneurs share certain key traits. Most entrepreneurs are
•Ambitious: They have a strong need for success and are competitive.
•Independent: They are independent thinkers who prefer to take the initiative rather than be followed.
•Self-assured: They are aware of the difficulties involved in beginning and running a business, and they have confidence in their abilities to make decisions and find solutions.
•Risk-takers: Although they aren't afraid of it, most successful business owners prefer moderately hazardous initiatives where they have more influence over the outcome over very dangerous ones where luck plays a big part.
•Visionary: What distinguishes entrepreneurs from small-business owners and managers is their capacity to identify trends and take appropriate action.
•Creativity: Entrepreneurs must possess inventive product designs, audacious marketing plans, and groundbreaking managerial problem-solving techniques in order to compete with larger businesses.
•Excited: Starting and running a business requires long hours. Nonetheless, several business owners launch their enterprises while continuing to hold full-time jobs elsewhere.
•Enthusiastic. Miho Inagi opened a bagel shop in Tokyo despite the odds against it being a success, proving that entrepreneurs enjoy what they do.
•Devoted. Entrepreneurs are willing to make these sacrifices because they are so dedicated to their businesses.
Ex. 3 Answer the questions to the text.
1.Do the terms entrepreneur and small-business owners have any differ-
ences?
2.What does the concept Entrepreneurship involve?
3.What are Small-business owners?
4.Do Entrepreneurs take a short-term view or a longer-term view?
5.Are Entrepreneurs found in all industries?
6.What are the motives for Entrepreneurship?
7.What are the abilities Entrepreneurs need to have?
8.Is Independence a good trait for being an Entrepreneur?
Ex. 4 Find the following words and word combinations in the text.
1.владельцы малых бизнесов
2.в широком смысле
3.разделять одинаковые характеристики
4.принятие риска
5.значительно изменять
42
6.осуществлять идеи
7.определять тренды
8.сознательное решение
9.существующий бизнес
10.более долгосрочная перспектива
11.быстроразвивающиеся компании
12.управлять судьбой
13.ежегодный список
14.чувство удовлетворения
15.финансовая независимость
16.управлять компанией
17.управленческий талант
18.развивать компанию
19.успешные предприниматели
20.руководить компанией
21.высокая потребность
22.приключенческий дух
23.брать инициативу
24.ключевые личные качества
25.ведение бизнеса
26.играет большую роль
27.умеренная степень
28.рискованные начинания
29.полный рабочий день
30.отнимать много времени
Ex. 5. Translate into English.
1.Термин «предприниматель» часто используется в широком смысле.
2.Есть разница между предпринимательством и управлением малым бизнесом.
3.Предпринимательство предполагает принятие на себя риска.
4.Предприниматели, как правило, являются новаторами.
5.Не все владельцы малого бизнеса являются предпринимателями.
6.Предприниматели, как правило, придерживаются более долгосрочной точки зрения, чем владельцы малого бизнеса.
7.Он разработал новую модель – розничную продажу книг через Интернет.
Ex. 6. Write out keywords and make up your own plan to the text.
Ex. 7. Retell the text.
43
Ex. 8. For home assignment! Prepare a report on the following topics:
(Tell about different small businesses: Health Care and Virtual Medicine, Accommodation and Food Services, Arts, Entertainment, and Crafts, Personal Trainers (online), Site building and web design, Local Auto Repairs, Secondhand (Online) Stores, Pet services, Dropshipping, Real Estate. Your report should contain 15-20 sentences.)
Ex. 9. Insert to be in the right form.
1.My new boss _________ English.
2.I ________ married to my colleague.
3.My favorite color _______ orange.
4.My favorite sports during my vacation _______ tennis and windsurfing.
5.My best friend ______ a student of School of Economy.
6.Reykjavík _______ in Iceland.
7._________ you from “Sony” company?
8.__________ Richard Branson from Britain? Yes, _____ _______.
9.How old ______ your new managers?
UNIT 8. GAINING ADVANTAGES BY UNDERSTANDING
THE COMPETITIVE ENVIRONMENT
44
Ex. 1. Memorize the following words and word-groups from the texts of the unit.
competitive – конкурентный market – рынок
signage – вывески; таблички; знаки и обозначения external – внешний
permanently – постоянно
to engage – заниматься чем-л. consumer – потребитель
to benefit – извлекать выгоду to impact – оказывать влияние interest rate – процентная ставка unemployment – безработица
applicant – претендент, соискатель position – должность
to hire – нанимать employee – работник sophisticated – сложный to calculate – вычислять to compare – сравнивать
inventory – инвентаризация, учёт товара to run out – кончаться, иссякать revenue – доход
Ex. 2. Read and translate the text «Competitive Environment».
CONCURRENT ENVIRONMENT
Why do businesses need to study their competitive environment? What is strategic analysis?
The method that businesses employ to investigate and comprehend the numerous levels and facets of their competitive environment is known as strategic analysis. Why do businesses invest time and resources into trying to comprehend their environment? Businesses don't function in a vacuum. They are touched by forces and variables both from within their organizations and by the outside world. For a firm to be successful, it is essential to comprehend these dynamics and variables.
For instance, many businesses have changed their store signage and product labels to include Spanish as a result of the rise in the number of Spanishspeaking people in the United States in order to improve the shopping experience for this expanding market. Since they have done their research and comprehend how outside influences affect their operations, the most successful
45
businesses are able to anticipate and respond to environmental changes. The external environment is constantly changing.
Managers and consultants participate in environmental scanning – the systematic and deliberate investigation of both a firm's internal state and its external, competitive environment – to respond to change more quickly and create items consumers demand. Businesses of all sizes, from a neighborhood coffee shop to a global conglomerate, benefit from strategic analysis. Let's take a closer look at a few crucial strategic elements.
The Competitive Environment
The internal and external elements of a firm's competitive environment both exist. Something in the external environment, such as an increase in interest rates or a natural disaster, might have an effect on a company's operations or success. Although external influences cannot be completely controlled, they must be managed well and understood in order for the company to be as successful as possible. For instance, the ability of a business to hire qualified workers at a fair wage will be impacted by the unemployment rate. A company will likely have many candidates for whatever positions it needs to fill if unemployment is high, which indicates that many individuals are looking for work. Because the employee would prefer work for a lower pay rate than not have a job at all, it will be able to choose more highly eligible people to hire and may be able to hire them at a lower pay rate. On the other hand, businesses may need to give greater compensation or accept candidates with lower qualifications when unemployment is low, which indicates that few individuals are looking for work. Internal factors are characteristics of the firm itself. To plan to compete against other firms, a firm needs to understand what physical, financial, and human resources it has what it is good at, and how it is organized.
For instance, Walmart has a sophisticated IT system that analyzes inventory and automatically orders things before they run out, comparing the rate at which the product is moving off the shelves to the time it will take the new product to arrive. In order to avoid the requirement for storage space for inventory, the system places orders for new goods such that it will arrive just as the stock on the shelves is running low. The whole Walmart inventory is available for sale to customers on the store's shelves. How does Walmart benefit from this system? All of the business's products can produce revenue since they are available for purchase by customers, and when the system is operating at its best, the store never runs out of items that customers want. It also saves money by not having to store or keep track of inventories.
Ex. 3 Answer the questions to the text.
1.What is strategic analysis?
2.What factors influence on firms?
46
4.What adjustments did many businesses make to make it easier for customers to buy in their locations and recognize the things they sell?
5.Is market is growing?
6.Is the external environment permanently changing?
7.Do the businesses need to be able to anticipate and respond to changes in the environment?
8.What method do the managers and consultants use?
9.Is strategic analysis important for business?
10.Can external factors be controlled?
11.What happens if unemployment is high?
12.What happens if unemployment is low?
13.What firms need to compete against other firms?
14.Describe the system order of Walmart.
Ex. 4. Find the following words and word combinations in the text.
1.конкурентная среда
2.достижение успеха
3.решающее значение
4.растущий рынок
5.легче осуществлять
6.более доступные продукты
7.реагировать на изменения
8.систематический анализ
9.определение внешних условий
10.внутреннее состояние фирмы
11.международная корпорация
12.получать выгоду
13.внутренние и внешние составляющие
14.повышение процентной ставки
15.влиять на действия фирмы
16.квалифицированные сотрудники
17.уровень безработицы
18.искать работу
19.множество соискателей
20.низкий уровень оплаты
21.хранилище
22.приносить доход
23.быть доступным для потребителя
24.оптимально работать
Ex. 5. Write out keywords and make up your own plan to the text.
47
Ex. 6. Retell the text.
Ex. 7. Fill in the correct form of the words in brackets (comparative or superlative).
1.My business is (big) than yours.
2.The design of this product is (attractive) than that one.
3.This is the (interesting) advertisement I have ever read in newspapers.
4.Those who follow a healthy lifestyle typically live (long) than others who don’t.
5.What is the (famous) company in the world?
6.A trip to the beach is (good) than a one in the mountains.
7.It's odd, but frequently a coke is (expensive) than a beer.
8.Who is the (rich) businesswoman on earth?
9.This summer's weather is even (bad) than last summer.
10.He was the (clever) worker of all my colleagues.
Ex. 8. Translate the text in oral and written form using the dictionary.
WHAT CAN A SWOT ANALYSIS TELL US ABOUT A COMPANY?
SWOT, which stands for strengths, weaknesses, opportunities, and threats, is a very popular tool used by businesses to evaluate their strategic and competitive circumstances. Businesses utilize SWOT analysis to gain a general grasp of their strengths, weaknesses, and external factors that may increase or decrease their chances of success.
Strengths
Simply said, a company's strengths are the things it excels at. Nike excels at selling sporting goods, McDonald's makes quick, affordable meals, and Ferrari produces stunning, rapid automobiles. A list of a company's skills and resources is compiled when it does a strength analysis. Does the company have a lot of money on hand? It is a quality. Does the company employ people with advanced degrees? Added benefit. A company may develop strategies to capitalize on its strengths when it is clear what those strengths are. Nike may decide to produce goods for a sport it doesn't already support in an effort to grow its customer base. It will successfully launch that new product line with the assistance of its expertise in sports marketing.
Weaknesses
The things that a company is weak at – those that it lacks the capacity to accomplish well–are its areas of weakness.
Remember that not all businesses can be excellent at everything; therefore weaknesses are not necessarily defects. When a company is aware of its limitations, it can avoid taking on projects for which it lacks the necessary resources or expertise, or it can look for ways to strengthen those areas before starting
48
something new. Weaknesses of a company are merely gaps in its skills, and those gaps do not always need to be rectified by the company itself.
Companies can fill gaps in their skills by developing capabilities, finding assistance in those areas, or working around them with the use of SWOT analysis. For instance, Paychex is a company that manages payroll for more than 600,000 businesses. For businesses that would prefer not to handle those responsibilities themselves, Paychex processes hours, pay rates, tax and benefit deductions, and direct deposit. A major company would need a team of workers committed to carrying out that duty, as well as software solutions to enable that team to work quickly and precisely. These capabilities are a company strength for Paychex because that is what it does. Other businesses can employ Paychex to handle the task for them if they lack the resources to do so or may not be interested in doing so.
Opportunities
Opportunities and threats are always external, whereas an organization's strengths and shortcomings are internal. An opportunity is a potential circumstance that a business is prepared to seize. Consider opportunities in terms of market developments. Opportunities have positive potential, but occasionally a company is not set up to take advantage of one, which is why it's crucial to consider the full SWOT before making a choice. For instance, parking is getting harder to find, as cities get denser. Younger customers who reside in cities are beginning to wonder whether it is even necessary to possess a car given the availability of public transportation and the lack of parking. However, occasionally a person could require a vehicle to drive beyond the city or transfer a particular acquisition. To cater to this new market of part-time drivers, Daimler, the maker of Mercedes-Benz and Smart vehicles, launched a car-sharing service called Car2Go in Europe, North America, and China. Daimler has discovered a way to sell the use of its cars to consumers who would not buy them altogether by creating Car2Go.
Threats
A manager classifies anything that would make it more difficult for her company to succeed as a threat while evaluating the external competitive environment. A wide range of circumstances and possibilities, from an economic slump to a rival company releasing a more improved version of a product the firm already sells, might jeopardize a company's prospects of success. A thorough examination of the external environment is necessary to identify dangers to the firm's operations so that countermeasures can be taken. Opportunities and risks can also depend on how they are perceived. For example, the Car2Go service that Daimler created for young urban clients without automobiles could alternatively be seen as a defensive measure against the decline in car ownership among this clientele. Daimler might have recognized the threat posed by the decline in sales among young urban professionals and created Car2Go as a substitute strategy to retain these clients while generating money.
49
UNIT 9. FIRM VISION AND MISSION
Ex. 1. Memorize the following words and word-groups from the texts of the unit.
initially – изначально
to accomplish – достигать, выполнять to describe – описывать
overall – в целом point – смысл
to offer – предлагать case – случай
to exhibit out – показывать to fulfill – реализовывать advantage – преимущество
Ex. 2. Read and translate the text «What is the difference between a firm’s vision and its mission? ».
WHAT DISTINGUISHES A COMPANY'S MISSION
FROM ITS VISION?
What distinguishes a company's mission from its vision?
The establishment of the firm itself should include the first stage in the process of creating a successful strategic position. Entrepreneurs typically have a reason for beginning a business when they make the decision to do so, a reason that provides a solution to the question, "What is the point of this business?" Even if entrepreneurs originally consider opening a business as a way to work for themselves, they must also have a plan for what their company will do. In general, there are numerous reasons why entrepreneurs launch their enterprises. A vision statement outlines the goals that a company's founders have for the company. It is not even necessary to identify a product or service in the vision statement because it is typically quite broad. The purpose of a corporation is simply stated in one or two sentences in the vision statement, which does not outline the approach a company would employ to carry out its goal.
50