Compensation payment, compensation payoff, or compensation payout.

3. These payments may form a part of a severance package.

4. Severance payments can be the subject of complex negotiations when an

executive leaves, or is ousted: forced to leave.

5. When executives are ousted, people may talk about companies giving them the golden boot.

6.When talking about executive pay, compensation can refer, confusingly, to

two different things: what top executives get for running a company and what they get on leaving a company.

7. Apart from salary, an executive's compensation package can include

bonuses ( extra payments, sometimes, but not always, related to the firm's performance) and benefits and perks (ranging from share options, the right to buy the company's shares at an advantageous price, to a chauffeur-driven car).

8.Remunerationis also used to talk about executives' salary and benefits.

9. Middle managers are those in the hierarchy between senior management and front-line managersorline managers, the people managing employees.

10.Organizations say that they are eliminating middle levels of their hierarchies so as to empower ordinary workers and employees.

11. The process of empowerment is designed to give them the authority to

make decisions that were previously taken by middle managers.

12. When people lose their jobs, they are dismissed or made redundant.

13. Outplacement is when a company helps people it is making redundant find new jobs in other organizations.

14. Headhunters are specialist consultants who search for high-level, often

board-level, executives and try to persuade them to leave their current job in order to go to work in another company. Managers found in this way are headhunted in a process of headhunting.

15. Executives may be persuaded to move to a company by the promise of a golden hello: a large sum of money or some other financial enticement offered by the companythey move to.

Ex. 10Translate the following into English:

Management hierarchy–классификация служащих предприятия в соответствии сих полномочиями и статусом.

Span of control–норма управляемости–число людей,находящихся внепосредственном подчинении руководителя.

Chain of command–система властных взаимоотношений,отражающаянаправленность поступления приказов и указаний в организации.

Job enlargement–постановка рабочему широких задач, выполнение которых требует выполнения нескольких видов для работ повышения его заинтересованности и снятия монотонности.

Line organization–организационная структура,в которой все единицы связаны сверхним и более глухим эшелоном четкой системной подчиненности.

Matrix organization–форма организации,при которой какая-либо задачавыполняется людьми, набранными из различных функциональных подразделений и которые находятся в подчинении как руководителя оперативной группы,так и их непосредственного начальника.

Unity of command–принцип,в соответствии с которым каждый работникдолжен иметь одного начальника.

Job description–краткое изложение обязанностей и ответственности,связанныхс определенным видом работ.

Job specification–комплекс кратких положений о необходимых знаниях,квалификации работника, выполняющего определенный вид работ.

Ex. 11Translate the definitions into English. Match them with the words given below.

Delegation, fringe benefits, mediation, termination, authority, layoff, efficiency, recruitment, retirement, staffing, responsibility.

1. Достижение поставленных целей с наименьшими издержками.

2. Отбор и обучение людей,обладающих способностями, для пополнения структуры организации.

3. Власть для действий,необходимых для осуществления решений или разрешения проблем.

4. Передача части какой-либо работы подчиненным.

5. Обязанность принимать решения или разрешать проблемы.

6. Выплаты, которые рабочий получает независимо от заработной платы.

7. Временное расторжение договора с работником,сделанное

организацией с обещанием возобновления договора в будущем.

8; Помощь третьей стороны, не связанной официальными

обязательствами,в разрешении конфликта.

9. Процесс привлечения кандидатов, которые могли бы выполнять

необходимую работу.

10.Добровольное расторжение договора работником.

11. Расторжение организацией договора с работником без обещания

принять его на работу.

Ex.12Give English equivalents:

Квалификационные требования; должностная инструкция; делегирование;

полномочия; дополнительные выплаты; норма управляемости; матричная

организация; расширение поля деятельности; обогащение труда; система

подчиненности; менеджеры высшего звена; среднее звено управления;

эффективность; результативность (рентабельность); вербовка (набор);

отставка; увольнение; единоначалие.

Ex.13.Define the right form for the following verbs. Fill in the gaps.

Be, oversee, carry out, ensure, base, compare, require, receive, take, keep, study, decide, deal, call, attempt

The work of management

In planning, managers outline the steps … in moving the organization toward the objectives. These plans … both long and short term in nature. In organizing, managers … how best to put together the organizations’ human and other resources in such a way as … most effectively established plans. In directing, managers … day-to-day activities and … the organization functioning smoothly. In effect, directing is the part of the managers' work that … largely with the routine.

In carrying out the control function, managers take those steps necessary … that each part of the organization is following the plan that was outlined for it at the planning stage. To do this, managers … the accounting and other reports coming to them and … these reports against the plans set earlier. The accounting and other reports coming to management … feedback. Feedback is a key to the effective management of any organization.

In decision making, managers … to make rational choices among alternatives. Decision making is an inseparable part of the other functions already discussed. Planning, organizing and directing, and controlling all … the decisions to be made. All decisions –------------ on information. The quality of management's decisions will be a reflection of the quality of the accounting and other information that it

… .

Ex. 14What is responsibility and what is authority? Fill in the gaps.

To be a successful manager you must know your … and … . … is the

obligation to carry out a task. It is the actual work that is delegated to a person.

… is the right to act in the name of a superior in an organization. Sometimes we read that a person must have … equal to the …. This confuses different concepts: … is an obligation, … is a right or power. They are two different things. If you hold a person responsible for carrying out certain tasks you must ensure that he or she has the means to do those tasks. The … you grant must be adequate to accomplish the task you have delegated, but must not exceed your own ….

SPEAK AND WRITE

1. When choosing candidates for any particular job, the Americans say,: “What can this person do?”; the French say, : “What qualification has she/he got?”; the British say, “What kind of background has this person got?” Which question would you ask when you are to choose an applicant? Why?

2. Suppose you have been appointed Dean of your department. Design a curriculum that would prepare students for their role in management. Specify your objectives and the means to be used.

3. A study in one of the largest American corporations indicates that the two criteria “quality of college attended” and “ a rank in class” were the best predictors of future managerial success in that firm. If you were a recruiter for a large company, would you utilize these criteria? Why or why not?

4. What is, from your point of view, the general relation between age and job satisfaction?

5. How many different ways of finding a job can you think of? Which one is the most reliable?

6. A recruiter of a big company said that they didn’t what anybody who “enjoyed exercising power”. Can you explain why?

7. What kind of a company would you like to work for: state-owned, private limited company, multinational corporation, etc. Why? Give your reasons.

8.What is the most group-oriented phase of life? Discuss why.

9. What are the qualities of an effective team player? What qualities could you contribute to a team?

10. Some people compare a small company to a family.

What are the benefits and risks of viewing a company as a family?

11. Examine the relationship between your needs and the rewards and

satisfactions of any job you have held.

12. Interview four people on why they work and which of their needs are

satisfied or frustrated. Summarize and comment on their responses.

13. “Poorly considered solution will be costly in dollars, happiness, or both” Your comments and examples.

14. What can be the reasons for business failure? Ground your point of view.

15. Comment on the following: “Excellence costs, … but in the long run

mediocrity costs far more.”

16. The human being is a continual problem-solver, decision-maker, and innovator.

Analyze your previous week (day, month, year) and describe the situations when you had to be ‘a decision-maker’, ‘a problem-solver’ and ‘an innovator’.

17. Mothers and fathers often have different ways of managing their families.

How would you describe the management style of your parents? Teachers?

18. Which management styles have you experienced? Which do you prefer?

19. Make the list of the best qualities of a manager and rank them in order of importance. Then make the list of five worst.

20. “Shadow business doesn’t yield sunny life”. Do you share this point of view?

21. .Summarize the information of the Unit to be ready to speak on Management. The first step to be done is to write the plan of your future report.

22. Choose any question (problem, topic) relating to Management and make 10-12 minute report in class. Refer to different additional sources to make your report instructive, interesting and informative.

UNIT 3

MARKETING

May both seller and buyer see the benefit

Your vocabulary

Market

- a place where goods and services are bought and sold.

Black market

- the system by which people illegally buy and sell goods, or foreign currency.

Buyer’s market

when there are more goods for sale than there are people wanting to buy them.

Seller’s market

-a market characterized by excess demand in which buyers consequently experiencedifficulty in buying.

Marketable

- able or fit to be sold.

Marketing

- the part of business which is concerned with the way in which a product is sold.

Ex.1.Translate the sentences given below. Pay attention to the words in italics.

1. Chesterham is a small market town with a population of 2000.

2. Access to new foreign markets was assured.

3. This device was first marketed by a Japanese firm.

4. They have never had to operate in a market economy.

5. 5.It’s a seller’s market at the moment.

6. A talking watch will shortly be on the market.

7. Many labour-saving devices have come onto the market. 8.You’ll never get a picture as good as this one on the open market.

9. Exxon might well be in the market to buy up a competitor too.

10.They took the mineral water off the market while tests were being made.

Ex.2.Marketing can be defined as an art ofbuyingandselling. Let’s have a look at thefollowing group of words. Do you know each of them? Into what two groups can they be subdivided?

Purchase, sell,	splash out on,	buy up,	pick up, sell off, buy in bulk, flog, snap
up, stock up,	be a sell out,	buy in,	buy wholesale, sell up, be selling like hot
cakes, outsell,	bestseller.

And now use them in the sentences below.

1.It’s best to … when house prices are high.

2. The bakery usually … its cakes … at half price just before closing time. 3.Why don’t we … … and move to Canada? Property is really cheap there. 4. Don’t let him try and … you his car – he’s had endless trouble with it.

5. By the end of the 1980s portable computer systems were …larger systems by 30%.

6. The new book, which reveals intimate details about Princess Diana’s private life is …

… … … in New York.

7. Jane Fonda’s new diet book is sure to be a … in America.

8.Madonna’s European tour … a total … … .

9.Foreign investors are not permitted to … land.

10.If I were you, I’d … … that dress before someone sees it.

11.That picture? Oh, I … it … on the market last week.

12.We … … … a bottle of champagne to celebrate her promotion.

13. The supermarkets are full of people … … for the New Year’s holiday.

14.We always … … … . It is so much more economical.

15.Mark … the earrings … and then … them in the market.