Levels and Areas of Management

Test No. 1

Task number 1

Translate the words paying attention to the word-building suffixes:

to produce

Producer

Producible

Production

productive

To invest

investor

investment

price

Priceless

Task number 2

Translate the sentence, indicate what function the words in -ing perform:

A) definition; b) circumstance; c) part of the predicate; d) addition

1) Investing their money in the private cafe they gained profit.

2) Accounting is showing the financial structure of the firm.

3) Marketing operations are very expensive.

4) Three basic categories will be operating in finance.

5) Wher advertising goods the producer influences the customer to buy.

Task number 3

Translate the sentence, indicate what function the word ending in – ed performs:

A) a simple predicate; b) definition; c) part of the compound predicate; d) circumstance

1) He had arrived at the conclusion to take a long – term loan.

2) When supplied by famous companies the shop could attract many customers.

3) The harders of the shares formed the ownership of the company.

4) Each share is represented by a stock certificate.

5) The amount of risk involved is also an importtant factor.

Task number 4

Rewrite the sentences, determine its species-temporal form, underline the predicate, translate into Russian.

1. A greuter amourt of products will be supplied by themanyfacturers if the price goes up.

2. Computer specialists try to develop a computer understanding human language.

3. Computer technology is being used practically by all financial institutions nowadays.

4. The scientist has been given much time for the experiment.

5. The financial statement will be looked over by the controller in 2 hours.

Task number 5

Rewrite, underline modal verbs or their equivalents, translate into Russian:

1. You should start market research.

2. The retailer can finance the customer by extending credit.

3. A computer is able to solve mathematical problems very rapidly.

Task number 6

Read and translate the text orally. Translate the first and second paragraphs in writing.

Levels and Areas of Management

Definition of management . Management is based on scientific theories and today we can say that it is a developing science. Practical application of knowledge in the management area requires certain abilities or skills. An organization may many managers who are responsible for employ particular areas of management. A very large organization may employ managers; each is responsible for activities of one management area. In contrast, the owner of a sole proprietorship may be the only manager in the organization. He or she is responsible for all levels and areas of management. Management is the process of coordinating the resources of an organization to achieve the primary organizational goals.

Managers are concerned with the following main resources: material resources, human resources, financial resources, informational resources and organizational goals. Material resources are physical materials and equipment used by an organization to make a product. For example, cars are made on assembly lines and buildings that house them are materials resources. The most important resources of any organization are its human resources – people. Financial resources are the funds the organization uses to meet its obligations to various creditors. A grocery store obtains money from customers and uses a portion of that money to pay the wholesalers from which it buys food. A large bank borrows and lends money. A college obtains money in the form of tuition, income from its endowments, and federal grants. It uses the money to pay utility bills, insurance premiums, and professors’ salaries. Each of these transactions involves financial resources. There are financial resources – the economy, consumer markets, technology, politics, and cultural forces.

Levels of management. Each organization can be represented as a three-story structure or a pyramid. Each story corresponds to one of three general levels of management: top managers, middle managers, and first-line managers. At the basic level of this pyramid there are operating employees.

TOP MANAGEMENT

MIDDLE MANAGEMENT

FIRSR-LINE MANAGEMENT

OPERATING EMPLOYEES

A top manager is an upper-level executive who guides and controls overall activities of the organization. Top managers constitute a small group. They are responsible for the organization’s planning and developing its mission. They also determine the firm’s strategy and its major policies. It takes years of hard work as well as talent and good luck, to reach the ranks of top managers. They are president, vice president, chief executive officer, and member of the Board.

A middle manager is a manager who implements the strategy and major policies handed down from the top level of the organization. Middle managers develop tactical plans, policies, and standard operating procedures, and they coordinate and supervise the activities of first-line managers. There are division managers, department heads, plant managers, and operations managers.

A first-line manager is a manager who coordinates and supervises the activities of operating employees. First-line manager spend most of their time working with employees, answering questions, and solving day-to-day problems. Common titles for first-line managers include office managers, supervisors, foremen, and project managers.

Operating employees are not managers. They are qualified and nonqualified persons working for the organization. They represent the work force of the organization.

Areas of management. An organization structure can be divided more or less horizontally into areas of management. The most common areas are finance, operations, marketing, human resources, and administration. A financial manager is primarily responsible for the organization’s financial resources. Accounting and investment are specialized areas within financial management. An operation manager creates and manages the systems that convert resources into goods and services. A marketing manager is responsible for the exchange of products between the organization and its customers or clients. Specific areas within marketing are marketing resources, advertising, promotion, sales, and distribution.

A human resources manager is in charge of the organization’s human resources programs. He or she engages in human resources planning, design systems for hiring, training, and appraising the performance of employees, and ensures that the organization follows government regulations concerning employment practices. An administrative manager is not associated with any specific functional area but provides overall administrative leadership.

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