Management

The word «management» is used in four meanings. First, it relates to the control and organizing of a business or any non- profit organization. Second, it refers to people's activity aimed at running a factory, a shop or a firm. Third, management is the people who run a company or an organization. Fourth, the word «management» stands for management science. In this text we will use the word in the first three meanings.

Experts believe that business is likely to be successful if it fulfils three criteria: it is managed properly, the idea and the market for it have the necessary growth potential, financing is sufficient.

The right management is considered to be the most important factor in determining success. It makes the company more efficient and the people in it more productive.

Management is the activities aimed at the conducting or supervising of a business. It implies planning, organization, motivation and control while setting and reaching the goals of a company. Some experts believe that management is a kind of art and it needs talent and skill.

The managing staff is the collective body of people who run or direct an organization, an enterprise, a firm, etc. A manager is a professional who plans, organizes and controls a business or a department of a business.

Different organizations may have different structures of management. But all of them have much in common. American experts distinguish three levels of management in big companies: the top level, the middle level and the low level.

The top (executive) management is usually represented by the chairman of the board of directors, the president and the vice-president of a corporation, the chancellor of a college.

Top executives concern themselves with corporate values that are the priorities that dictate how organizations should work. They exercise general leadership. Top executives must be strong leaders who are able to take charge and steer the organization in the direction of improvement and progress. They work out the proper development strategy for their companies or enterprises. They specify Ii the enterprises are capable of producing, appraise the state of the capacities and determine their profits. Top management must respond to quickly changing business conditions.

Managers of departments at companies, deans of faculties at colleges, directors of branches and other administrators belong to the middle (administrative) management.

Many responsibilities are delegated to this level. Administrators make important decisions in their specific fields. They are connected with their boss, peers, subordinates and customers. They organize collective thinking and problem solving. Managers run meetings and conduct negotiations. They deal with hiring, firing, promotions and demotions.

The low management is represented by foremen at enterprises; supervisors, heads of sections at companies; heads of departments at schools of business; head nurses at hospitals, etc.

These people deal with employees. They maintain discipline; explain tasks to subordinates, correct mistakes and compliment achievements. Their activities are directly connected with production and practical work. They take control over fulfilment of production assignments. They are responsible for using raw materials and equipment.

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