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Check how you rate as an entrepreneur:

44 or above

You definitely have the necessary qualities to become the director of a successful business. You have a strong sense of leadership, you can both organize and motivate and you know exactly where you and your team is going.

between 44 and 22

You may need to think more carefully before setting up your business. Although you do have some of the essential skills for running a business, you will probably not be able to deal with the pressures and strain that are a part of the job. You should perhaps consider taking some professional training or finding an associate who can compensate for some of your weaknesses.

bellow 22

Managing your own business is not for you. You are better suited to an environment where you are not responsible for making decisions and taking risks. To operate successfully you need to follow well defined instructions and you prefer work that is both regular and predictable.

Ex. 9. There are different stages to be involved in starting the company. Number the stages of the project for cargo transportation by airships in order in which you think they happened.

aConduct a feasibility study.

bGet the idea of using an airships to transport heavy goods.

cIdentify the market.

dConstruct the assembly plant.

eSeek investment from major companies.

fIdentify a problem.

gCreate the company

hInvite private investors to join the project.

Ex. 10. Read the information and find the definition of a “business plan”.

Setting up a successful business requires careful preparation and planning but also involves a degree of risk-taking. There are a number of questions that all entrepreneurs must ask themselves concerning the product or services that they intend to sell, the competition that they will face, the structure of the business itself and the sources of finance that they will need to open their new venture. This means that all of these parameters must be defined in a business plan: a document that shows how the

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entrepreneur will organize his or her business, how much he or she expect to sell and where the capital will come from. Once this information has been put down on paper, the entrepreneur can then choose an appropriate form for the company, register it with the authorities and open for business.

Ex. 11. Read these extracts from the business plan and decide which sections of the checklist they come from.

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Ex. 11. Role play. Work in small groups. You have decided to set up your own business together and have approached the bank for advice. They have asked you to prepare a business plan. Decide what type of business you are going to set up, then discuss each of the points listed in a business plan. When you have finalized all the details of your business, prepare a written plan to give to the bank. Perform all the steps of the situation.

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UNIT IV. MANAGEMENT

Topics for discussion:

1.What is management?

2.Levels of management.

3.Management styles.

4.Manager’s qualities.

5.Which bosses are best?

Ex.1. Read the text and answer the questions bellow.

Management.

Management is the process of coordinating the resources of an organization to achieve the primary organization goals. Managers are concerned with the following main resources: 1) material resources, which are physical materials and the equipment used by organization to make a product; 2) human resources – people, which are the mast important resources of any organization; 3) financial resources, which are the funds, organization uses to meet its obligations to various creditors; 4) information resources, that cannot be ignored by any organization. The functions performed by management information technology are collecting data, staring and updating data, processing and presenting information.

It’s very important for any organization to have clear objectives and goals, which give purpose and direction to the management process and serve as measuring stick for performance. Objectives are specific statements (short-terms tasks) detailing what the organization intends to accomplish within a certain period of time. A goal is an end state (long-term tasks) that an organization wants to achieve. Without those objectives and goals the management process, as a trip without a specific destination, would be aimless and wasteful.

Although nearly all aspects of modern life are touched by the work of managers, many people do not really understand what the management process involves. Management is a complex and dynamic mixture of systematic techniques and common sense. One can identify eight managerial functions: planning, decision making, organizing, staffing, communicating, motivating, leading, controlling. But the main of them are four: planning, organizing, motivating and controlling.

As any science, management is based on scientific theories. But it’s necessary to know how to apply these theories. What is important to an organization is not the number of managers it employs but the ability of these managers to achieve the organization’s goals, and this ability requires great skills. These skills can be divided into several categories: 1) a conceptual skill is the ability of a manager to see the

“general picture” of an organization, to manage subordinates in a proper way for getting required results; 2) a decision making skill; 3) an analytical skill; 4) an administrative skill; 5) a communication skill; 6) a technical skill. Besides these skills a good manager should possess some personal qualities, such as self-awareness, selfregulation, flexibility and many others.