Ex. 3. Translate the following sentences paying attention to the words in Ex.1 and Ex.2.

1. They estimated the distance at about three miles.

2. We need to estimate how much paint we'll need for the job.

3. Each experiment is performed twice to ensure accuracy.

4. What's the average weekly budget for a family of five?

5. The film has a million-dollar budget.

6. The device has the capability of recording two television channels at once.

7. The company will hire a new director of marketing.

8. She's the director of graduate studies at the university.

9. She's considered one of the best young directors in Hollywood.

10. I saw a notice on the board calling for volunteers.

 

Ex. 4. A. Copy the following words and memorize their meanings:

 

three-storey - трехслойный

independently – независимо, самостоятельно

overall - общий

to hand down - выносить

day-to-day – ежедневно, изо дня в день

 

Ex. 4. B. Translate the following sentences from English into Russian.

1. Each organization can be represented as a three-storey structure or a pyramid.

2. A middle man is a manager who implements the strategy and major policies handed down from the top level.

3. They spend most of their time working with employees, answering questions, solving day-to-day problems.

4. Management can be defined as all the activities and tasks undertaken by one or more persons for the purpose of planning and controlling the activities of others in order to achieve an objective or complete an activity that could not be achieved by the others acting independently.

5. A top man is an upper level who guides and controls the overall activities of organization.

Ex. 5. Give Russian equivalents to the following:

ordinarily, performance level of the offer, level of quality, to be aware, presumed quality level, to gain market share, discount pricing, pharmaceuticals, to evaluate.

Ex. 6. Complete these sentences with the words given below in appropriate form and translate the sentences into Russian:

economical, economic, available, productive, to increase, basis, to decrease, to be concerned with

1. This technique is very...: you won't need much money and personnel.

2. This is a purely.... approach, we must consider other aspects of the problem.

3. Unfortunately, there is little information …….. on this interesting subject.

4. Why is this organization more……than that one?

5. ……. productivity you should introduce new methods of financial management.

6. Let's take this concept as.... of our further research.

7. This chapter……. the most important processes within an organization.

8. The member of jobs in industry.... and unemployment rate consequently

Read the text and translate it, using a dictionary, if necessary.

 

An effective manager

An effective manager must be able to estimate, with a certain degree of, accuracy, the future performance of his or her areas of responsibility within an organization. Forecasting refers to the methods managers use to predict future events. The purpose of a forecast is to reduce the uncertainty regarding the fu­ture. The more certain a manager can be about future events, the better and more effective his or her decisions are likely to be. Note that a forecast is not the same as a decision. A forecast predicts future events or conditions in such a manner that a manager can use the information when making a decision. Since the outcome of a forecast often determines which decision is made by a manager, accurate forecasts are crucial to decision making.

The importance of forecasting should not be underestirnated. Often, the information obtained from a forecasting model will be used as input for other decision models. If errors are made in a company's forecasts, these er­rors can lead to poor decision making throughout the organization. Such er­rors can subsequently lead to costly and unprofitable outcomes. For exam­ple, many managerial decisions require information relating to forecasts of future demand for a company's products and services. This information is used in various areas of a company to help determine advertising budgets, quantities of products to be produced, numbers of employees to hire, levels of financing required, and the level of purchase commitments for supplies and equipment. Incorrect forecasts of demand could cause wrong decisions to be made regarding these other factors. If such errors are large enough, they can lead to disastrous performance levels for a manager or company.

In recent years, the sophistication and accuracy of forecasting meth­ods has increased steadily. Three major reasons account for this increase:

Expanded use of computers and the growth of their capabilities.
Computers are now widely used to perform calculations that previ­ously would have been virtually impossible to do manually.

The increase in the amount of data available for use in forecasting.
All forecasting methods use data on past history. Data that was often not Available before the widespread use of computers is now frequently produced as a by-product of a company's information systems. For example, data on the demand for a company's products and services is now often obtainable from a firm's accounting or other internal data processing system. Additional data is also now widely available from firms that collect, organize, and sell data to companies that need to supplement their own internal data bases.

The development of more accurate forecasting systems.

The growing interest in management science has fostered the de­velopment of more accurate forecasting models.