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 Reading 3

Chapter-3

Managing a New World

Objectives of Unit 7
- Restate a comprehensive definition of business management
- Compare management theory with real-life business practices
- Analyze a complex definition of a business concept
- Develop your vocabulary
 Management :
Management is the process working with
and through others to achieve
organizational objectives in a changing
environment. Central to this process is the
effective and efficient use of limited
resources
 We present four key truths of managing today
 1. The only certainty today is change. Management requires that leaders
be able to change and to lead others to be open to change.
 2. Speed, teamwork, and flexibility are very important as managers plan
and carry out their plans.
 3. Managers at all levels need to pay attention to the customer. If a
company wants to have customers, it has to offer high quality products
and services.
 4. To make economic progress, individuals and organizations must be
continuously improving and always be learning.
 Academic vocabularies you must learn
 1. process  13. attained 25. ethical
 2. achieve  14. challenging 26. revolution
 3. environment  15. goals 27. evolution
 4. resources  16. margin
 5. components  17. approach
 6. interact  18. effectiveness
 7. conclusion  19. efficiency
 8. derailed  20. experts
 9. involve  21. approximately
 10. perceived  22. economics
 11.manipulative  23. factors
 12. objective  24. globalization
 Preview with a definition

Management is the process working with and through others to achieve

organizational objectives in a changing environment. Central to this process is the
effective and efficient use of limited resources.
 According to the definition, what is the goal of the management process?
 Identify
a business environment. What factors might make that
environment change?
 How can a manager work with others?
 Give examples of resources that might be limited.
Read the following selection.
 Exercise 6 Checking comprehension

Page 107

Circle the correct response to answer these questions about

Reading Selection 1
 Exercise 8. Developing understanding

Respond to the items below

 2. Define efficiency.
 3. What is the danger of being too effective?
 4. What is the danger of being too efficient?
In the prereading exercise, you saw Reading Selection 1
outlined by subheadings as follows:
Management Defined
1. Working with and Through Others
2. Achieving Organizational Objectives
3. Balancing Effectiveness and Efficiency
4. Making the Most of Limited Resources
5. Coping with a Changing Environment
Match these words to make a phrase
achieve margin
interpersonal effectiveness and efficiency
profit organizational objectives
balance problems
limited transition
adapt resource
 Homework Unit 7

 Learn the new vocabulary

 Read the text Reading Selection 1
 Do the exercises

 !!! Self study work 1. Write a summary in each subheadings 1-5

( 5 points)
Next class – Translation exam “Reading selection 1” paragraph 11-18