Английский для экономистов (учебник английского языка)

An organization can best achieve its objectives when its members require a minimum … supervision because they are competent and goal-oriented. Nevertheless, even … optimal conditions of individual commitment and self-control, organizations need formal controls. The control function of organizations consists … the following:

1. Establishing standards … which all aspects of organizational life are evaluated.

Most organizations have formal standards relating … spending, production, sales, product quality, safety, inventory, personnel selection, acceptable employee behavior, and so forth.

2. Establishing feedback system by which actual performance is compared … predetermined standards.

These are best exemplified … management reports which show, often … a daily basis, expected and actual performance.

3. Taking appropriate action to ensure that substandard performance is improved and that standards will be met … the future.

It is common practice to refer … the standards and feedback systems as controls although it should be obvious that they serve a control function only if managerial action is involved. They are not a substitute … supervision, but they minimize requirements for personal supervision.

Read the text once again and answer the following question: What are the control functions of organization?

Ex. 12.Read the text. Fill in the gaps with the missing words given below.

Monitor, interrelate, integral, report, exaggerate, law, impact, flow of cash, resources, customers, stock, range, information, activity, prerequisite, process, subject, nervous.

Communication in organization

Effective communication is a … for the achievement of organizational objectives. The importance of communication problems has at times been … – there are, after all, other types of problems – but the … of poor communication can be enormous.

The … of communication is illusive because it is intertwined with so many other subjects. Effective communication is, for example, an … part of effective leadership, decision making, motivation, the management organizational conflict, etc.

Communication in organization is here defined as the process by which … is transmitted from one person to another.

Money is the lifeblood of an organization: if organizations do not receive a … ... they go out of business. Information plays a similar role. The flow of facts, figures and words through an organization’s administration is its … system.

The nature and flow of information determines how «sensitive» an organization to its …, employees, changes in the market, and so on. The purpose in … information is to plan, record, control and report the activities of the organization.

Planning. Managers need information to be able to plan how an organization’s … are to be used. This can be a complex process since each department’s plan must … with the other departments.

Recording. Firms are obliged to keep financial information under the … .

Controlling. There are many activities in business where immediate or «real time» information is necessary so that the … can be controlled directly. These activities include … control, quality control, and budgetary control.

Reporting. Many different kinds of … exist in business. They … from weekly sales reports to financial reports at an Annual General Meeting. Every function within an organization is constantly … and reported on.

Read the text once again and summarize it in 5-7 sentences.

Ex. 13.Open the brackets.

Economic Individualism – Laissez-Faire

In the late seventeenth century, Louis XIV (to reign) as King of France. His finance minister, Jean Baptiste Colbert, (to ask) a manufacturer by the name of Legendre how the government might (to help) business. Legendre’s reply (to be) “laissez nous faire” (leave us alone). The expression (to become) a watchword and motto of market economy.