Why Management Is Needed?

Management is needed whenever people work together in an organization and to reach organizational goals. The goal of most firms and companies-is to provide services for people and to make a profit for the owners. If the firm stops giving service, people will no longer patronize it. If there’re no profits, the company will soon be unable to perform the needed service.

To achieve goals, managers need to maintain the balance among the conflicting demands of the stakeholders of an organization. Stakeholders are all those, who have a stake in an organizational success, including employees, owners; customers, creditors and others. Owners seek a satisfactory return on their investment; employees want good pay and comfortable working conditions; management must also please its customers, for without them the company will have little purpose; creditors, suppliers, trade associations should also be considered.

So, management must balance the interests of different groups. Management is also needed to achieve efficiency and effectiveness. Efficiency is the ability to get things done correctly. An efficient manager is the one, who gets higher, output relative to the inputs (labour, materials, money, machines and time). Effectiveness is the ability to choose the most suitable goals and proper steps to achieve them. That is, effective managers select the right things to do and the right methods-for gettingthemdone.

4.Find English equivalents to the following word combinations:

a) Менеджмент необхідний

b) Забезпечувати обслуговування

c) Вигода для власників

d) Досягати мети

e) Підтримувати баланс

f) Пайовики підприємства

g) Повернення своїх вкладень

h) Гарна платня

i) Зручні робочі умови

j) Задовольняти клієнтів

k) Зацікавленість різних груп

l) Здатність правильно робити

m) Найбільш підходящі цілі

5.Choose the correct word:

1. The work of any organization is impossible without (management, agreement, employment).

2. The most important goal of any firm is to make a (business, profit, outfit).

3. Almost any commercial organization deals with (providing, involving, managing) services for people.

4. The absence of any (goals, input, profit) leads a company to bankruptcy.

5. (getting, maintaining, making) the balance inside the company is an everyday duty of any manager.

6. People who give their money to develop a company are usually called (stakeholders, skate holder, steak holders).

7. A number of highly qualified (officers, employees, clerks) works for each company.

6.Answer the questions:

1. What is the main goal of every organization?

2. What happens when a firm stops giving service?

3. What does any manager need to achieve goals?

4. Who are stakeholders?

5. What do we call efficiency?

6. Who is an efficient manager?

7. What is effectiveness?

7.Questions for discussion:

1. Does any organization actually need management?

2. What kind of service do organizations give to customers?

3. Is it possible for any organization to perform without any stakeholders?

4. How do you think, is it difficult to become an efficient and effective manager?

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