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UNIT 5. TYPES OF BUSINESS ENTITIES & BUSINESS ETHICS
3. Personal finance may also involve (to pay) for a loan,
or debt obligations.
4. Employees may query their attendance record from
the system without (to ask) the information from HR personnel.
5. (to have) bureaucracy includes: a set of rules,
specializations, and a hierarchical system.
Exercise 3. Choose the correct grammatical variant
of preposition paying attention to Gerund and translate
them into Russian
1. As a whole, the hospital contains all the characteristics (of / by / at) being a social organization.
2. Top managers are responsible (of / for / at) making
organization-wide decisions and establishing the plans and
goals that affect the entire organization.
3. Lower managers focus (in / on / by) controlling and
directing regular employees.
4. Business management includes all aspects (of / for /
to) overseeing and supervising business operations and relat-
ed fields which include accounting, finance and marketing.
5. They are responsible (of / for / at) controlling
an effective work team and must uphold organizational beliefs within that team.
6. Management by objectives is the process (of /
for / by) defining specific objectives within an organization
that management can convey to organization members then
deciding on how to achieve each objective in sequence.
7. Lower managers are usually responsible (of /
for / at) assigning employees’ tasks, guiding and supervising
employees on day-to-day activities, ensuring the quality and
quantity of production and/or service.
Exercise 4. Translate the following sentences into Russian
using Gerund and explain their usage
1. The higher his position in the hierarchy, the greater
his presumed expertise in adjudicating problems that may
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UNIT 5. TYPES OF BUSINESS ENTITIES & BUSINESS ETHICS
arise in the course of the work carried out at lower levels
of the organization.
2. His need to identify with a community that provides
security, protection, maintenance, and a feeling of belonging
continues unchanged from prehistoric times.
3. Beginning with the late 1990s, HR vendors
started offering cloud-hosted HR solutions to make this technology more accessible to small and remote teams.
4. The significant cost incurred in maintaining
an organized recruitment effort, cross-posting within and
across general or industry-specific job boards and maintaining a competitive exposure of availabilities has given rise
to the development of a dedicated applicant tracking system
(ATS) module.
5. The module also lets supervisors approve O.T.
requests from their subordinates through the system without
overloading the task on HR department.
6. Having all of the information in one place also
allows for professionals to analyze data quicker and across
multiple locations because the information is in a centralized
location.
7. Training in virtual classrooms makes it possible for the HR professionals to train a large number of employees quickly and to assess their progress through computerized testing programs.
8. Employees can take control of their own learn-
ing and development by engaging in training at a time and
place of their choosing, which can help them manage their
work-life balance.
9. Instead of a client-server, companies began using online accounts on web-based portals to access their employees’
performance, and track accomplishments regardless of their
location.
10. The payroll module automates the pay process
by gathering data on employee time and attendance, calculating various deductions and taxes, and generating periodic
pay cheques and employee tax reports.
— 202 —
UNIT 5. TYPES OF BUSINESS ENTITIES & BUSINESS ETHICS
11. Keeping quality under control is relevant to both
increasing customer satisfaction and reducing processing
waste.
12. Losing personal communication with clients, securi-
ty issues, etc. may have a heavy impact in company value.
13. Personal finance may involve paying for education,
financing durable goods such as real estate and cars, buying
insurance, e.g. health and property insurance, investing and
saving for retirement.
14. Financial risk management, an element of corporate
finance, is the practice of creating and protecting economic
value in a firm by using financial instruments to manage exposure to risk, particularly credit risk and market risk.
Exercise 5. Translate the following sentences into English
explaining Gerund
1. Предпринимательство, предпринимательская деятельность — деятельность, направленная на систематическое получение прибыли от пользования имуществом,
продажи товаров, выполнения работ или оказания услуг,
которая осуществляется самостоятельно на свой риск лицом, зарегистрированным в установленном законом порядке в качестве индивидуального предпринимателя.
2. Для ведения предпринимательства используется имущество, нематериальные активы, труд как самого
предпринимателя, так и привлечённые со стороны.
3. Нет гарантий, что затраченные средства окупятся,
что произведённое будет продано с прибылью.
4. С этим связан риск потерь всего или части имущества.
5. Отдельные случаи продажи товаров, выполнения работ или оказания услуг, не приводящие к систематическому
получению прибыли, предпринимательством не является.
6. В большинстве стран для начала предпринимательства требуется официальная регистрация, но критерии
и условия могут существенно различаться.
— 203 —
UNIT 5. TYPES OF BUSINESS ENTITIES & BUSINESS ETHICS
7. Предпринимательство — важнейшее свойство ры-
ночной экономики, пронизывающее все её институты.
8. В русском языке слова предпринимательство и бизнес используются как синонимы, но иногда имеют разное
значение.
9. Эффективность предпринимательской деятельности может оцениваться не только размерами прибыли, но и
изменением стоимости предприятия (рыночной стоимости
предприятия, гудвилла).
10. Самое важное место в источниках занимает
мнение потребителей продукции, так как конечная цель
предпринимательской деятельности — удовлетворение
их запросов.
INTRODUCTION PART
GROUP AND PAIR DISCUSSION
Exercise 1. What do you already know about management?
Answer the following questions below. In pairs or small
groups, discuss your ideas and summarize them within
5–7 sentences
Discuss these questions in class.
1. What do you know about strategic planning?
2. What the key components of strategic management
do you know?
3. What are the positive and negative sides of any
key strategic management component?
Exercise 2. Read and translate the following quote.
1. Explain how you understand it.
2. Say whether you agree or disagree with the quote.
3. Explain your position.
4. Try to convince your classmates with opposite posi-
tion than yours.
— 204 —
UNIT 5. TYPES OF BUSINESS ENTITIES & BUSINESS ETHICS
“The conventional definition of management is getting work
done through people, but real management is developing peo-
ple through work.”
— Agha Hasan Abedi
Источник:
(http://www.wiseoldsayings.com/management-quotes/)
Use the following set-phrases:
• I think…
• I suppose…
• I consider…
• It seems to me that…
• As for me…
• In my opinion…
• To my mind…
• As I understand that…
• Definitely…
• To be more precise…
• Generally speaking…
• Frankly speaking…
• I doubt…
• I’m (not) sure…
• I agree that…
• I disagree that…
MAIN PART
LIST OFWORDS AND WORD COMBINATIONS:
1. strategic
planning
2. pursue
3. excel
4. summarize
5. objective
[strəˈtiːʤɪk
ˈplænɪŋ]
[pəˈsjuː]
[ɪkˈsɛl]
[ˈsʌməraɪz]
[əbˈʤɛktɪv]
— 205 —
стратегическое
планирование
преследовать,
продолжать,
заниматься
превосходить,
выделять
суммировать, резюмировать, подводить итог
цель, задача
UNIT 5. TYPES OF BUSINESS ENTITIES & BUSINESS ETHICS
6. formulate
7. outc om e
8. distinct
9. descriptive
10. rationale
11. applicable
12. assessment
13. interpret
14. stakeholder
15. valuable
[ˈfɔːmjʊleɪt]
[ˈaʊtkʌm]
[dɪsˈtɪŋkt]
[dɪsˈkrɪptɪv]
[ˌræʃəˈnɑːl]
[ˈæplɪkəbl]
[əˈsɛsmənt]
[ɪnˈtɜːprɪt]
[ˈsteɪkˌhəʊldə]
[ˈvæljʊəbl]
формулировать
результат, исход,
последствие
отдельный, отчетливый, определенный
образный,
наглядный
логическое обоснование, разумное объяснение,
подоплека
применимый, подходящий, годный
оценка, суждение
интерпретировать
посредник
ценный
16. perspective
17. dis cr epancy
18. insight
19. effectiveness
20. value
[pəˈspɛktɪv]
[dɪsˈkrɛpənsi]
[ˈɪnsaɪt]
[ɪˈfɛktɪvnəs]
[ˈvæljuː]
— 206 —
перспектива
несоответствие, различие,
противоречие
инсайд, озарение,
понимание
эффективность
ценность
UNIT 5. TYPES OF BUSINESS ENTITIES & BUSINESS ETHICS
21. outline
22. operate
23. idealize
24. charity
25. fundamental
26. succinctly
27. homeless
28. unemployed
29. priorities
30. farm
31. maxim
[ˈaʊtlaɪn]
[ˈɒpəreɪt]
[aɪˈdɪəlaɪz]
[ˈʧærɪti]
[ˌfʌndəˈmɛntl]
[səkˈsɪŋktli]
[ˈhəʊmlɪs]
[ˌʌnɪmˈplɔɪd]
[praɪˈɒrɪtiz]
[fɑːm]
[ˈmæksɪm]
очерчивать, наметить в общих чертах
работать, действовать, управлять
идеализировать
благотворительность
фундаментальный
кратко, сжато
бездомный
безработный
приоритеты
заниматься сельским хозяйством,
обрабатывать землю, сдавать в аренду
принцип, сентенция
32. self-sufficiency
33. shelter
34. roadmap
35. plow
36. implement
37. ensure
[sɛlf səˈfɪʃənsi]
[ˈʃɛltə]
[ˈrɒʊdmæp]
[plaʊ]
[ˈɪmplɪmənt]
[ɪnˈʃʊə]
— 207 —
самодостаточность
приют, кров
дорожная карта
пахать
осуществлять,
выполнять
обеспечивать,
гарантировать
UNIT 5. TYPES OF BUSINESS ENTITIES & BUSINESS ETHICS
TEXT A
STRATEGIC PLANNING & KEY COMPONENTS
OF STRATEGIC MANAGEMENT
Part I (1) Strategic planning is an organization’s process
of defining its strategy, or direction, and making decisions
on allocating its resources to pursue this strategy. In order
to determine the future direction of the organization, it is necessary to understand its current position and the possible avenues through which it can pursue particular courses of action.
Generally, strategic planning deals with at least one of three
key questions:
1) “What do we do?”
2) “For whom do we do it?”
3) “How do we excel?”
(2) Organizations sometimes summarize goals and objectives into a mission statement and/or a vision statement.
Others begin with a vision and mission and use them to formulate goals and objectives. A newly emerging approach is to
use a visual strategic plan such as is used within planning
approaches based on outcomes theory. When using this approach, the first step is to build a visual outcomes model of the
high-level outcomes being sought and all of the steps which
it is believed are needed to get to them. The vision and mission
are then just the top layers of the visual model.
(3) Many people mistake the vision statement for the mission statement, and sometimes one is simply used as a longer
term version of the other. However they are distinct; with the
vision being a descriptive picture of a desired future state; and
the mission being a statement of a rationale, applicable now
as well as in the future. The mission is therefore the means
of successfully achieving the vision. This may be in the business world or the military.
(4) For an organization’s vision and mission to be effective, they must become assimilated into the organization’s culture. They should also be assessed internally and externally.
The internal assessment should focus on how members inside
— 208 —
UNIT 5. TYPES OF BUSINESS ENTITIES & BUSINESS ETHICS
the organization interpret their mission statement. The external assessment — which includes all of the businesses stakeholders — is valuable since it offers a different perspective.
These discrepancies between these two assessments can provide insight into their effectiveness.
Part II (5) The key components of ‘strategic planning’ include an understanding of an entity’s vision, mission, values
and strategies. (In the commercial world a “Vision Statement”
and/or a “Mission Statement” may encapsulate the vision and
mission).
(6) Vision: outlines what the organization wants to be,
or how it wants the world in which it operates to be (an “idealized” view of the world). It is a long-term view and concentrates
on the future. It can be emotive and is a source of inspiration.
For example, a charity working with the poor might have a vision statement which reads “A World without Poverty.”
(7) Mission: Defines the fundamental purpose of an organization or an enterprise, succinctly describing why it exists and what it does to achieve its vision. For example, the
charity above might have a mission statement as “providing
jobs for the homeless and unemployed”.
(8) Va lu es: Beliefs that are shared among the stakeholders of an organization. Values drive an organization’s culture
and priorities and provide a framework in which decisions are
made. For example, “Knowledge and skills are the keys to success” or “give a man bread and feed him for a day, but teach
him to farm and feed him for life”. These example maxims
may set the priorities of self-sufficiency over shelter.
(9) Strategy: Strategy, narrowly defined, means “the art
of the general”. A combination of the ends (goals) for which the
firm is striving and the means (policies) by which it is seeking to get there. A strategy is sometimes called a roadmap —
which is the path chosen to plow towards the end vision. The
most important part of implementing the strategy is ensuring
the company is going in the right direction — defined as towards the end vision.
— 209 —
UNIT 5. TYPES OF BUSINESS ENTITIES & BUSINESS ETHICS
Exercise 1. Answer the questions to the text A.
1. What is strategic planning?
2. What is necessary to do in order to determine the fu-
ture direction of the organization?
3. What does strategic planning generally deal with?
4. What do organizations summarize?
5. What is a newly emerging approach? What are its
purposes?
6. What is the first step of using a newly emerging
approach?
7. What do many people mistake concerning statements?
8. What kind of means is mission statement?
9. What should there be to make mission and organiza-
tional vision effective?
10. What are the external and internal assessments
in mission statement?
Exercise 2. Say whether it is true or false.
1. Strategic planning is an organization’s process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy.
2. In order to determine the future direction of the organization, it is necessary to understand its current position and
the possible avenues through which it can pursue particular
courses of action.
3. Generally, strategic planning deals with at least one
of two key questions.
4. Organizations never summarize goals and objectives
into a mission statement and/or a vision statement.
5. The mission is therefore the means of unsuccessfully
achieving the vision.
Exercise 3. Translate into Russian the following word
combinations.
An organization’s process, to pursue this strategy, cur-
rent position, courses of action, goals and objectives, mission
— 210 —
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