Денис Шевчук - Английский для экономистов (учебник английского языка)

Investing activities include the purchase and a sale of long-term assets in addition to other major items used in a business’ operations.

Financing activities are activities that involve obtaining the cash or using other non-cash means to pay for investments in long-term assets, and to repay money borrowed from creditors, and to provide a return to owners.

SPEAK AND WRITE

1. Why are there so many organizations in today’s society?

2. Why is it important for managers to be knowledgeable about the macro environment?

3. How will tomorrow’s organizations be different from those today?

4. Do all organizations need structure? Give your reasons.

5. Define the terms authority and tell how it is related to formal and informal organizations.

6. Explain how responsibility, authority, and accountability should be related to each other in the ideal organization.

7. Take an organization with which you are familiar and see if you can explain the way it works (principles, goals, structure, objectives, climate, and so forth).

8. List each organization you belong to. Do they have any impact on your life? List and discuss each impact.

9. One successful sales company had a unique organization layout. At the top of the chart was the most important person in the whole operation – the customer. This labeled «customer» was linked with lines to boxes of functions dealing directly with the customer – sales person, technical service, order clerk, credit clerk, etc. Try to draw your own organization chart, starting with the customer.

10. Enumerate all the factors you would consider in creating a culture of your own business.

11. Because of its broad global environment, a number of disciplines (geography, history, law, economics, political science, anthropology) are useful to help explain the conduct of international business. Prove it with your own examples.

12. Do you agree with the adage: “You can’t get rich working for someone else”?

13. What should be regulated by government and what should be left to the private sector (education, health care, housing, social security, defense, public transport, sale of alcohol, tobacco, press, broadcasting, entertainment)? Why? Give your reasons.

14. Summarize the information of the Unit to be ready to speak on the topic “Organization”. The first step to be done is to write the plan of your future report.

15. Choose any question (problem, topic) relating to Organization and make a 7-10 minute report in class. Refer to different additional sources to make your report instructive, interesting and informative.

Your vocabulary

Management

– the control and organizing of a business or other organization;

– those stuff within the firm who exert control over its activities on behalf of owners.

Top management

includes the chief executive of an organization, his or her deputy or deputies, the board of directors and the managers in charge of the divisions or departments of the organization.

Middle management

consists of the managers to whom top management delegates the day-to-day running of the organization.

Managing director

– company director responsible for the day-to-day running of a company. Second in the hierarchy only to the chairman, if there is one; the managing director is the company’s chief executive.

Manager

– a person controlling or administrating a business or part of a business.

Ex. 1. Do you know the meaning of the following derivatives? Show it with the help of your own sentences.

to manage; manageable; management; manager; manageress; managerial.

Translate the following sentences. Pay attention to the words in italics.

1. The reserved the right to make managerial decision.

2. What you need is advice from your bank manager .

3. I wish you could manage the time to come and to talk to us.

4. Private banks are being nationalized, and are to be managed with workers’ participation.

5. They are part of my management team.

6. The baby can be greatly influenced by the parents’ management .

7. She has been working as the manageress of a bookshop.

8. It is perfectly manageable task to tackle systematically.

Ex. 2. Write down a synonym for each of the words on the left. Choose the one on the right. In what do they differ?

Ex. 3. The following words can be classified into 5 groups. What are they? Show the difference in their meaning with the help of your own sentences.

Choice, have, solve, dilemma, own, profit, posses, variant, cope with, to process, option, tackle, problem, handle, return, predicament, gain, alternative.

Ex. 4. Match the definitions with the words given below.

fee, executive, insure, skill, capacity, profile, applicant, charisma, ensure, guideline, superior.

1. Ability to do something well.

2. Short biographical or character sketch.

3. Payment made for professional advice or services.

4. Person or body with managerial or administrative responsibility.

5. Make certain.

6. Secure compensation in the event of loss or damage by advance regular payments.

7. In a higher position; of higher rank.

8. Principle directing action.

9. Power to certain, receive, experience, or produce.

10. The ability to attract, influence, and inspire people by your personal qualities.

11. Someone who formally asks to be given something, such as a job or a place at a college or university.

Ex. 5. Give the Russian equivalents to the following.

Involved in management; production oriented; impose regulations, ever-more-complex environment; encompasses both science and art; business executives; code of conduct; develop the body of knowledge; with respect to the second criterion; the issue is much less clear-out; is consistent with their interest; self-interest or concern for others; decision-making machinery; cross-cultural skills; consulting fee; character attributes; compare against the places set earlier; authority.

Ex. 6. Translate the following text into Russian in written form.

People working for a company are referred as its workforce, employees, staff, or personnel and are on its payroll.

In some context, especially more conservative ones, employees and workforce refer to those working on the shopfloor of a factory actually making things. Similarly, staff is sometimes used to refer only to managers and office-based workers. This traditional division is also found in the expressions white-collar and blue-collar.

Another traditional division is that between management and labor.

Personnel departments are usually involved in finding new staff and recruiting them, hiring them, or taking them on, in a process of recruitment. Someone recruited is a recruit, or in American English only, a hire.

They are also involved when people are made to leave the organization, or fired. These responsibilities are referred to, relatively informally, as hiring and firing. If you leave the job voluntarily, you quit.

Middle-managers are now most often mentioned in the context of re-engineering, delaying, downsizing, or rightsizing: all these expressions describe the recent trend for companies to reduce the numbers of people they employ, often by getting rid of layers of managers from the middle of hierarchy.

An organization that has undergone this process is lean and its hierarchy is flat.

Read the text once again and in turn explain, in your own words, the meaning of the following terms:

1. workforce, employee, staff, personnel, a recruit, a hire, layer, labour.

2. white-collar, blue-collar.

3. to recruit, to employ, to hire.

4. to fire, to quit, to get rid of.

Do you know any other synonyms to the words given above?

LET’S READ AND TALK

TEXT 1

ART OR SCIENCE?

Management is the art and science of making appropriate choices. To one degree or another, we are all involved in managing and are constantly making decisions concerning how to spend or use our resources.

Like most things in our modern, changing world, the func–tion of management is becoming more complex. The role of the manager today is much different from what itwas one hundred years, fifty years or even twenty-five years ago. At the turn of the century, for example, the business manager's objective was to keep his company running and to make a profit. Most firms were production oriented . Few constraints affected management's decisions. Governmental agencies imposed little regulations on business. The modern manager must now consider the environment in which the organisation operates and be prepared to adopt a wider perspective. That is, the manager must have a good understanding of management principles, an appreciation of the current issues and broader objectives of the total economic poli–tical, social, and ecological system in which we live, and he must posses the ability to analyze complex problems.

The modern manager must be sensitive, and responsive tothe environment – thatis he should recognize andbe able to evaluate the needs of the total context in which his business functions, and he should act in accord with his understanding.

Modern management must posses the ability to interact in an ever-more-complex environment and to make decisions that will allocate scarce resources effectively. A major part of the manager’s job will be to predict what the environment needs and what changes will occur in the future.

Organizations exist to combine human efforts in order to achieve certain goals. Management is the process by which these human efforts are combined with each other and with material resources. Management encompasses both science and art. In design–ing and constructing plans and products, management must draw on technology and physical science, of course, and, the behavioral sciences also can contribute to management. However much you hear about «scientific management» or «management science», in handling people aid managing organizations it is necessary to draw on intuition and subjective judgment. The science por–tion of management is expanding, more and more decisions can be analyzed and programmed, particularly with mathematics. But although the artistic side of management may be declining in its proportion of the whole process it will remain central and critical portion of your future jobs. In short:

• Knowledge (science) without skill (art) is useless, or dangerous;

• Skill (art) without knowledge (science) means stagnancy and inability to pass on learning;

Like the physician, the manager is a practitioner. As the doctor draws on basic sciences of chemistry, biology, and physiology, the business executive draws on the sciences of mathematics, psychology, and sociology.

1. The function of management is becoming more complex. Why?

2. What must management possess nowadays?

3. Management encompasses both science and art. In what can we see it?