Профессиональный английский язык для экономистов. Учебное пособие

finance, which knows the financial condition of the firm, seeks ways to contain expensive inventory accumulations, and develops plans to finance the cash flows created by the aggregate plan and schedules;

human resources, which is aware of how labor market conditions and training capacities constrain aggregate plans and schedules;

management information systems, which develop information systems and decision support systems for creating aggregate plans and schedules;

marketing, which provides demand forecasts and information on competition and customer preferences;

operations, which develops plans and schedules that are the best compromise among cost, customer service, inventory investment, stable workforce levels, and facility utilization;

purchasing, which provides information on supplier capabilities and coordinates the inbound flow of materials and services in the supply chain with the aggregate plan and schedules.

Scheduling is about deciding the time that each task will take to do and the sequence in which the tasks will be carried out. There are a number of approaches to estimating the time and effort (and, therefore, cost) required to complete a project. Some estimates may be based on past experience but, because each project is essentially unique, this alone may not be sufficient. A clearer picture can be obtained by measuring each task in terms of the content of the work, the effort required to carry it out, and its duration. It helps estimate resource requirements in order to begin scheduling, taking account of the current workloads of the members of the project team and their capacity to carry out the work.

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Vocabulary test

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9. Rivalry among firms is the central force determining a business’s competitive position.

Multiple Choice Questions

1.Competitive strategy always takes into consideration … among existing firms. a) bargains;

b) supporters; c) suppliers; d) rivals.

2.The process of structuring both human and physical resources to accomplish company’s objectives is called:

a)organizing;

b)strategy;

c)centralization;

d)decentralization.

3. A process of retaining authority in the hands of a few high level managers is called:

a)structuring;

b)formation;

c)centralization;

d)decentralization.

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4. Determining the number of people who are accountable to a single manager refers to:

a)chain of command;

b)degree of centralization;

c)span of command;

d)degree of specialization.

5. An organizational practice, according to which decision making freedom is available to lower level manager, is known as:

a)centralization;

b)decentralization;

c)autonomy;

d)contingency.

6.Minimum freedom of managers and maximum constraints are main features of: a) total control;

b) loss of control; c) total command;

d) total centralization.

7.To what extent does the authority refer?

a)the ability to organize people;

b)the power to command and direct;

c)the need for order;

d)the right to change jobs.

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8.From what does a chain of command extend? a) one person to another;

b) one top manager to other top managers; c) bottom to top;

d) top to bottom.

9.The main reason for a choice of centralization in Fast Food restaurants is: a) to attract more customers;

b) to lower prices;

c) to ensure the similar quality in every location; d) to give more authority to middle management.

10.Contingency plan is used:

a)in day-to-day business cases;

b)as defining mission;

c)in emergency situations;

d)in financial payments.

Translating

Use the correct prepositions in the following sentences if necessary.

1.Организационная структура компании влияет на уровень централизации власти.

2.Решение проблемы будет зависеть от поддержки главных менеджеров.

3.Менеджер должен напомнить служащим о генеральной стратегии нашего отдела.

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4.Исполнительный директор настаивал на выполнении задания немедленно.

5.Это часто происходит с компаниями, которые быстро расширяют свою деятельность.

6.Назначение нового директора по финансам привело к большим изменениям в корпорации.

7.Менеджмент постоянно находит новые возможности сбыта продукции.

8.При децентрализации менеджеры высшего звена полагаются на ответственность и квалификацию сотрудников отделов.

9.Он внес большой вклад в этот благотворительный проект.

10.Новый служащий не соответствовал своей должности и не мог справиться с заданиями.

11.Кому подчиняется этот сотрудник?

12.Действительно, охотники за головами охотятся за лучшими специалистами и предлагают им лучшие условия от лица компаний, которые хотят их нанять.

Additional reading

Text IV. The SWOT analysis

(by G. Friend and S. Zehle, “Guide to business planning”)

The analysis of strengths, weaknesses, opportunities and threats brings together the results of the analysis of the firm (internal), the environmental analysis (external) and the portfolio analysis. A SWOT analysis allows to look at the strengths and weaknesses in the context of the opportunities and threats. Implicit in the SWOT analysis is the aim of achieving the optimum match of a firm’s resources with the environment in order to gain sustainable competitive advantage by:

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building on a firm’s strengths;

reducing weaknesses or adopting a strategy that avoids weaknesses;

exploiting opportunities, particularly using the firm’s strengths;

reducing exposure to or countering threats.

A SWOT analysis used on its own is a crude, rather subjective tool. However, this is also an advantage because it can be done quickly. In any event, a SWOT analysis should be short and simple; complexity and over-analysis are to be avoided. This means a SWOT analysis is easily understood and communicated and can fit on one page. Therefore, you could use a SWOT analysis to carry out a quick strategic review. The process of creating a SWOT analysis is valuable because it involves discussion among managers or key people in a business. This stimulates thinking in a way that is not too structured or restrictive.

True or false

1.The primary purpose of strategy is being better than rivals.

2.In order to achieve sustained competitive advantage, a firm must continually adapt to changes in external trends and events and effectively formulate, implement, and evaluate strategies.

3.Strategic management is an attempt to organize qualitative and quantitative information in a way that allows effective decisions to be made under conditions of uncertainty.

4.By centralizing decision making, a firm can avoid the duplication of activities that occurs when similar activities are carried on by various subunits within the organization.

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5.Managers who ask other staff to do work on their behalf are depreciating.

6.Span of control is the specific flow of authority down through the levels of an organizational structure.

7.The achievement of written goals occurs more often than goals that are not written down.

8.Planning the marketing strategies ahead of time allows companies to succeed in business.

9.Planning can be used for internal and external purposes.

10.SWOT analysis identifies the competitive advantages of the manufactured product.

Writing

1.Some managers insist that everything must be planned and scheduled and all employees stick to the plan while others are sure that the plan is just a general idea of behavior and the managers should be creative and always be ready to change.

2.Some managers think that they must control every step of their subordinates while others are sure that delegating authority is required to keep a steady workflow within the organization. What behavior would you choose if you had a chance to be a top manager?

3.Why is the process of conducting an internal and external analysis important for any size company? Why must it be done on a regular basis taking into consideration all strengths and weaknesses, opportunities and threats?

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Unit 2. Human Resources. Recruitment and training. Motivation. Communication. Team work

Learning objectives

1.Define human resource management.

2.Identify the responsibilities of human resource departments.

3.Explain how human resource management contributes to an organization’s performance.

4.Discuss how to conduct effective interviews.

5.Recognize the nature, importance, and benefits of training.

6.Formulate training objectives and categorize types of training.

7.Demonstrate an understanding of the strategic importance of communications in a competitive environment.

Terms to learn

HR, HRM, recruiting, selection, screening, payroll, benefit, staff, applicant, reference, background, sexual harassment, senior manager, junior manager, interview, CV, induction training, on-the-job training, off-the-job training, job rotation, coaching, assignment, internship training, case study, incident method, role play, simulation, motivation, internal communication, external communication

Pre-texts discussions

1.What is the role of Human Resources specialists in a company?

2.What are the main targets of Human Resources management?

3.How does the recruitment process help in selecting a right candidate?

4.Why is training important for employees?

5.What are the ways of motivating people?

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Reading

Text I. Human Resources

Human resources specialists are responsible for recruiting, screening, interviewing and placing workers. They may also handle employee relations, payroll, benefits, and training. Human resources managers plan, direct and coordinate the administrative functions of an organization. They oversee specialists in their duties; consult with executives on strategic planning, and link a company’s management with its employees.

HR specialists tend to focus on a single area, such as recruiting or training. HR generalists handle a number of areas and tasks simultaneously. Small companies will typically have one or two HR generalists on staff, while larger ones may have many devoted to particular areas and services.

HRM (Human Resource management) is a strategic approach. HRM uses a variety of tools to help meet the strategic needs of the business, each of which needs together in an integrated way. The key tools are: workforce planning, recruitment & selection, training & development, rewarding and motivating staff, communication, roles and responsibilities (organizational structures).

Some typical daily tasks for an HR worker include:

consult with employers to identify needs and preferred qualifications;

interview applicants about their experience, education and skills;

contact references and perform background checks;

inform applicants about job details such as benefits and conditions;

hire qualified candidates;

conduct new employee orientations;

process paperwork.

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