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Functions of Management

There is a statement: "Management is getting work done through people." Most of achievements in any society take place because groups of people get involved in joint effort. Almost everyone is, was, or someday will be a manager, i.e. the person who coordinates human, information, physical, and financial resources of an organization. In order to perform their functions adequately, managers need interpersonal, organizational, and technical skills.

Management is a team of managers who are in charge of the organization at different levels. Regardless of the specific job, most managers perform five basic functions:

• Planning

• Organizing

• Staffing

• Directing

• Controlling.

Planning involves determining overall company objectives and deciding how these goals can best be achieved. Managers consider alternative plans before choosing a specific course of action at all managerial levels. Planning is listed the first management function because the others depend on it. However, even as managers move on to perform other functions, planning continues as goals and alternatives are further evaluated and revised.

Organizing, the second management function, is putting the plan into action. Organizing involves allocating resources, especially human resources, so that the objectives can be attained; creating new positions and determining responsibilities. Staffing, i.e. choosing the right person for the right job, is also a part of the organizing function.

Fourth is the day-to-day direction and supervision of employees. In directing, managers guide, teach, and motivate people so that they reach their potential abilities, and at the same time achieve the company goals set in the planning stage.

At last managers control and evaluate how well overall company objectives are being met. If there are any problems and objectives are not being met, changes need to be made in the company's organizational, or managerial, structure. In making changes, managers might have to go back and replan, reorganize, and redirect. Effective managers achieve the goals of the company through a successful combination of planning, organizing, staffing, directing, and controlling.

Personal business management is a one-semester course for the high school students. Its purpose is to provide students with a variety of tools necessary to meet future needs — making career decisions, managing money, providing economic security, managing credit, and keeping up to date with technology. It is useful for all the students for better understanding and adaptating to the financial world they will enter. A student examines his or her societal and personal expectations, needs and wants, controls and restraints both for the present and future. The emphasis is made on decision-making skills, planning and analysis. The informed person is better able to draw maximum benefit and is well-adjusted to the social, economic, and technological changes.
1. Укажите, какой из абзацев текста (2,3,4,5) содержат следующую информацию:

Personal business management is a one-semester course for the high school students.

2. Определите, является ли это утверждение верным:

A student examines his or her societal and personal expectations, needs and wants, controls and restraints both for the present and future.

МАРКЕТИНГ

11. 
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In modern terms, marketing is defined as the movement of goods and services from manufacturer to consumer in order to satisfy the customer and to achieve the company's objectives. It can be considered as dynamic field that involves a wide variety of activities.

The ABC of marketing is the so-called marketing mix. It includes the four P's: product, price, placement, and promotion.

Product (service) is often connected with development of a new product or service, searching the potential markets, and, finally, introduction it to the market. Target market selection is the most important task for any firm. A target market is a group of individuals who will probably buy the product. That involves the development of a marketing strategy. A successful marketing mix depends on the knowledge about consumers and their buying habits, gained through market research as well as correct identification of the target market.

Price is the most changeable element of all the four P's. Its definition is exchange of something of value for something else. There are three pricing options the company may take: above, with or below the prices its competitor are charging. For example, if the average price for blue jeans is $ 50, a company that charges $ 50, has priced with the market, a company that charges $ 47 has priced below the market, and a company that charged $ 53 has priced above the market. Most companies price with the market, selling their goods and services for average prices established by major producers in the industry known as price leaders.

Placement involves getting the product or service to the customer. This takes place through the channels of distribution. A common channel of distribution is:

Manufacturer – wholesaler – retailer – customer.

Promotion includes all kinds of communication with individuals, groups, or organizations to directly or indirectly facilitate exchange by informing and persuading them to accept an organization product or service. There are two major ways promotion occurs: through personal selling, as in a store; and through advertising, as in a newspaper. One should distinguish advertising campaign which can be developed by personnel within the firm or in conjunction with advertising agencies, and publicity, that is the means of communication transmitted through a mass media at no charge.

All marketing activities must be oriented toward creating and sustaining satisfying exchanges. Both the buyer and the seller must be satisfied. The first should be satisfied with goods, services or ideas obtained in the exchange. The seller should receive something of value, usually financial reward. All marketing variables are highly interrelated.

Marketing helps companies generate profit, the lifeblood of economy. About half of each consumer dollar is spent on marketing activities.
1. Укажите, какой из абзацев текста (3,4,5,6) содержат следующую информацию:

Price is the most changeable element of all the four P's.

2. Определите, является ли это утверждение верным:

Target market selection is the most important task for any firm.

I. Выберите из четырех предложенных вариантов правильный ответ:
1. Can you make change for two .. .?

A. ten-dollars bills

B. ten-dollar bills

С. ten-dollar's bill

D. ten-dollars bill
2. Countries may . . . large sums of money from the World Bank for development projects.

A. lend

B. lent

С borrow

D. borrowed

3. The apartments . .. the Hudson River are the most expensive.

A. at

B. on

С. in

D. near of

4. Dan tries to finish his thesis, but he . . . only part of the necessary information.

A. find

B. finds

С has found

D. had found


II. Выберите подходящее из выделенных слов и вставьте его в предложение.
5. identification/ identify

A. Market analysts_____the target market for a particular product.

B. When travelling, one must not forget taking his or her_______.
6. promotion/ promoted

A. Advertising agencies are concerned with the_______of a product.

B. Last week the boss__________me because of my efficient work.
7. competitor/ compete

A. In the marketplace, businesses___________with each other.

B. Sony is a major___________of General Electric.
8. determination/ determines

A. The combination of the four P's________the marketing mix.

B. An analyst makes an accurate____of the company's target markets.

9. production/ produced/productive/product

A. In 1992, China____________500 thousand metric tons of rice.

B. The ___________ phase encompasses product research and development, purchase of materials, and manufacturing.

C. Our___________is so successful that we are rapidly running out of stock.

D. Jim proved to be very_______________.

10. distribution/ distributor/ distribute

A. Factory representatives_____________products to wholesalers and retailers.

B. Moving a truckload of apples from the orchard to the supermarket is an example of_____________.

С British Leyland is an importer and___________by trade.

11. sales/ sell/ sale

A. How efficiently a company_____________its products will in large measure determine its success.

B. A company's annual report includes the____________figures for the current fiscal year.

C. Sam got a___________with one of the top manufacturers.

12. profits/ profit/ profitable

A. The farm is a highly___________business.

B. The company explores natural resources to its own____________.

C._____________have only slightly increased, therefore we have had to cut further investment.

13. allocated/ allocation/ allocate

A. The company's management can___________resources properly.

B. The resources to be____________are scarce.

C. A manager should monitor the___________of responsibilities.

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