CD1.21 Listen to the final part and complete this extract

Akio Morita co-founded a company in Tokyo in 1946, and later changed its name to Sony. He moved to the US, where he had the original ideas for the Walkman and the video cassette recorder. Sony acquired music and film companies, and developed video games. (co-found – совместноосновывать, acquire – приобретать)

While Jack Welch was Chief Executive Officer (CEO) of General Electric in the 1980s and 1990s, its market value increased from $14 billion to more than $410 billion. He fired 10% of the company's managers each year. (market value – рыночнаяцена, fire - увольнять)

Steve Jobs was first the co-founder and later the CEO of Apple. He was fired from his own company (!) in 1985,and co-founded Pixar Animation Studios, but rejoined Apple in 1997, and helped develop the iPod and the iPhone. (CEO – chief executive officer – главный управляющий, директор предприятия)

In 1998, Meg Whitman joined a start-up company called eBay in Silicon Valley as President and CEO. She resigned ten years later, when it was a hugely successful business, planning to run for Governor of California.(start-up company – начинающая компания, resign – уходить в отставку,run for – выставлять кандидатуру)

Carlos Ghosn, born in Brazil, but a French and Lebanese citizen, became the CEO of the Nissan car company in 2001. In 2005, he also became CEO of Renault. At Nissan, he converted huge debts into huge profits. (convert – превращать, debt –долг, profit – прибыль)

Speaking 2: Which of the qualities are most important for managers?

A good manager should:

1 follow the company's goals

2 help subordinates to accomplish their own goals and objectives

3 help young colleagues to develop

4 know how to lead people

5 know how to motivate people

6 make a maximum profit for the owners (the shareholders)

7 meet the targets they have been set

8 successfully execute plans and strategies

Reading:

1 Read the text summarizing the different functions of management. Which of the qualities do you think are particularly necessary for the five tasks described by Peter Drucker?

What is management?

Management is important. The success or failure of companies often depends on the quality of their managers. But what do managers do? One well-known classification of the tasks of a manager comes from Peter Drucker. Drucker was an American business professor and consultant who is often called 'The Father of Modern Management'.

Drucker suggested that the work of a manager can be divided into five tasks: planning (setting objectives), organizing, integrating (motivating and communicating), measuring performance, and developing people.

• First of all, senior managers and directors set objectives, and decide how their organization can achieve or accomplish them. This involves developing strategies, plans and precise tactics, and allocating resources of people and money.

• Secondly, managers organize. They analyze and classify the activities of the organization and the relations among them. They divide the work into manageable activities and then into individual tasks. They select people to perform these tasks.

• Thirdly, managers should have skills of motivation and communication. They also have to communicate objectives to the people responsible for attaining them. They make the people, who are responsible for performing individual tasks, form teams. They make decisions about - pay and promotion.

• Fourthly, managers have to measure the performance of their staff, to see whether the objectives or targets set for the organization and for each individual member are achieved.

• Lastly, managers develop people - both their subordinates and themselves.

A company's top managers also have to consider the future, and change the organization's objectives when necessary, and introduce the innovations that will allow the business to continue. Top managers also have to manage a business's relations with customers, suppliers, distributors, bankers, investors, neighboring communities, public authorities, and so on, as well as deal with any crisis that arises.

Although the tasks of a manager can be analyzed and classified, management is not entirely scientific. There are management skills that have to be learnt, but management is also a human skill. Some people are good at it, and others are not. Some people will be unable to put management techniques into practice. Others will have lots of technique, but few good ideas. Excellent managers are quite rare.