1. Determine the Organization’s Mission and Goal.
2. Select the Executive
3. Support the Executive and review his/her performance
4. Ensure effective organizational planning
5. Ensure adequate resources
6. Manage resources effectively
7. Determine and monitor the organization’s products and services.
8. Enhance the organization’s public image
9. Assess organization’s performance.
There is no standardized list of the major functions and responsibilities carried out by position of chief executive officer. The following list is one perspective and includes the major functions typically addressed by job description of chief executive officer:
1. Board administration and support. Chief executive officer (CEO) supports operations and administration of Board by advising and informing Board members, interfacing between Board and staff, and supporting Board’s evaluation of chief executive.
2. Program, Product and Service Delivery. CEO oversees design, marketing,promotion,delivery and quality of programs, products and services.
3. Financial, Tax, Risk and Facilities Management. CEO recommends yearly budget for Board approval and prudently manages organization’s resource within those budget guidelines according to current laws and regulations.
4. Human Resource Management. CEO effectively manages the human resources of the organization according to authorizes personnel policies and procedures that fully conform to current laws and regulations.
5. Community and Public Relations. CEO assures the organization and its mission, programs, product and services are consistently presented in strong, positive image to relevant stakeholders.
6. Fundraising (non-profit specific). CEO oversees fundraising planning and implementation, including identifying resource requirements, researching funding sources, establishing strategies to approach funders, submitting proposals and administrating fundraising records and documentation.
1. What is an organization?
2. In what way are people and positions they hold connected?
3. What components does the model of organization include?
4. What are three principal forms of business organization?
5. What is a sole proprietorship?
6. What are advantages and disadvantages of sole proprietorship?
7. What is a partnership?
8. What are the limited partnership and general partnership?
9. What are the advantages and disadvantages of partnership?
10. What is a joint venture?
11. What is a corporation?
12. Who are the owners of a corporation?
13. What is necessary to form a corporation?
14. Who oversees the major policies and decisions?
15. What are advantages and disadvantages of corporation?
16. How many styles of organization do you know and what are they?
17. What is most promising long-term organizational style?
18. Describe the kinds of organization structure.
19. What can you tell about Responsibility, Authority and Duty?
20. Do managers consider any organization as a management object?
21 Does an organization have a life cycle?
22. What are the responsibilities of a board of directors in a corporation?
23. What are major duties of a board of directors?
24 What can we call an effective board of directors?
25. What are typical functions of CEO?
1. bring (together) сводитьвместе
2. crownn (of the tree)кронадерева
3. embodiment nвоплощение, олицетворение
4. trunknстволдерева
5. core n сердцевина,
6. root(s)n, plкорни
7. core competence(y) ключеваякомпетенция
8. hierarchyn иерархия
9 be accountable (to smb.) подотчетныйкому-либо
10.affiliaten. 1)филиал, отделение; 2) компаньон
v. 1) принимать в члены, объединять, присоединять к.. (with)
11. spanofcontrol предельный объем ответственности
12. maturity зрелость, совершенность, законченность
13. soleproprietorshipединоличная собственность
14.departmentalizationnразделение на отделы
15. matrix матричная организационная структура
16. advantagesn, pl преимущества
17. disadvantagesn, pl недостатки, невыгодное положение
18. inorderlymanner в должном порядке, надлежащим образом
19. assetsn, pl активы, средства, ресурсы, фонды, капитал
20. liabilitiesn, pl обязательства, ответственность за что-либо
21.breachthecontract нарушить контракт
22. judgmentnмнение, оценка, суждение
23. inventoryn инвентаризация, опись всего имущества
24. setforthv излагать, формулировать, объяснять
25. dissolvev прекращать деятельность, распускать
26. withdrawaln отзыв, выход, уход, изъятие
27. assumev допускать, предполагать, принимать на себя
28. becharteredздесь: даровать привилегии; давать разрешение на
29. besued преследоваться в судебном порядке
30. overseev наблюдать, надзирать, следить за…
31. synergyn успешные совместные усилия, синергизм
32. raisefunds занимать деньги, находить средства
33. comply(with)v подчиняться требованиям, делать уступки
34. obeyorders повиноваться приказаниям
35. routinenобычный порядок, рутина, однообразная работа
36. seizethepower захватить власть
37. contingencyorganizationорганизация, основанная на ситуационном подходе.
38. just-in-timeточно в срок, точно по графику.
39.breadthnширота, широкий размах
40.administratev управлять, контролировать
Unit 2. Corporate vision, mission, and image.
Every company cannot avoid the answering the vital question: what is our company vision, what do we intend to achieve? While answering this question, top management must understand what character of business their company has and should have. By developing of strategic vision they should identify who they are; what they do and where they go, in order to direct the organizational course, to form the corporate unique vision and mission. In order not to mix up corporate vision and mission, they must know that vision speaks about what a company will be in five or ten years as a result of staff’s efforts and energy. Undoubtedly, any company corrects its activity in the course of time. The corporate vision includes:
- form of its business;
- basic direction of a strategy, in short;
- firm’s performance guiding lines, etc.
Vision Statement is sometimes called a picture of your company in the future but it’s so much more than that. Your vision statement is your inspiration, the framework for all your strategic planning. A vision statement may apply to an entire company or to a single division of that company. Whether for all or part of an organization, the vision statement answers the question, “Where do we want to go?”
What you are doing when creating a vision statement is articulating your dreams and hopes for your business. It reminds you of what you are trying to build.
While a vision statement doesn’t tell you how you’re going to get there, it does set the direction for your business planning. That’s why it’s important when crafting a vision statement to let your imagination go and dare to dream – and why it’s important that a vision statement captures your passion.
Unlike the mission statement, a vision statement is for you and the other members of your company, not for your customers or clients.
When writing a vision statement, your mission statement and your core competencies can be a valuable starting point for articulating your values. Be sure when you’re creating one not to fall into the trap of only thinking ahead a year or two. Once you have one, your vision statement will have a huge influence on decision making and the way you allocate resources.
.Examples: A vision statement for a company offering whale watching tours: Within the next five years, ZZZ Tours will become the premier eco-tour company in ________, increasing revenues to 1 million dollars in 2010 by becoming internationally known for the comfort and excitement of the whale-watching tours it offers.
It is evidently that that mission formulation is desirable for any company because it determines what a company operates for.
Therefore, a company should realize its destination, in other words, formulate its mission. A firm of any kind runs its business executing the specific mission. In fact, mission is the destiny of a company, the main aim of its activity.
There are many kinds of mission, which are common to all the companies, but nevertheless, any company should work out its own mission and acquaint the staff and its consumers with it.
As it was mentioned above, company mission shows its role in the society and environment. In the extensive interpretation, mission is the philosophy and destiny of any organization; in the narrow interpretation – it is spirit of its existing.
Its components are as follows:
- product/service (What are they?)
- target customers (Who are they?)
- technology (Does a firm use the traditional or new technology?)
- competitive advantage (What is it in comparison to other competitors?)
- philosophy (What are the firm’s important values, strivings and principles of ethics?)
Company mission helps formulate a slogan, a company lives and operates with. “McDonald’s is a big family! It cares of its staff in and out the work!” (McDonald’s); “Quality is our life style!” (Philips Electronics); “We’re providing people with cheap vehicles!” (Ford).
Mission is a useful tool, which realizes a system approach of company management to goals and objective. For example, mission can involve the aim-providing the individual clients with service of the highest quality.
As a rule, mission reflects two or three factors:
- unsatisfied market needs;
- potential customers;
- competitive advantage (e.g.: in product)
It is worth stating that corporate mission isn’t dogmatic; it can be reviewed if market changes require that.
Company can formulate its mission for three main purposes:
- to understand the business spheres a company works in;
- to explain its strategic vision;
- to determine the moment a company should change its strategic course.
Care is also needed to note that different firms have different objectives . The diversity of objectives depends upon a company mission. In the first place we have to name:
- survival for as long as possible;
- maintenance and increase in profits;
- increase in the market share and sales;
- long-term growth.
This is most likely that the increase in the market share and in sales volume is the basic objective to ensure the survival, growth and profitability. The firm with a large market share is competitive enough and has better long-term prospects. As it was said above, a company must elaborate its objectives, like the following:
- to improve the standard of living;
- to maintain a balance of payment positions;
- to achieve the reasonable price stability;
- to maintain reasonable full employment.
To gain the important place among the competitors, a firm must set the long-range and short-range goals.
There are seven key places where a firm usually puts its long-term goals: market position, innovations, marketing, production, finance, HR, management.
Any company has to meet changes and take into account a forecast on its future business. The most firms have a variety of objectives. While planning their activities, they should note the compatibility between the objectives and circumstances at a given point of time. The flexibility in decision-making is a preference. The objectives permit to have maximum productive capacity, change the demand and expenditure with regard to an individual consumer.
They must be concrete, measurable, planned, compatible and accessible.
A company creates its strategic priorities to distribute its resources in effective way. The corporate objectives and strategic priorities have a common purpose – to serve the customers and meet their needs.
The strategic priorities constitute the wish to be innovative; they form a company mini-strategy (MOS), together with the company mission and objectives. The mini-strategy helps develop a company strategy, as a whole
MOS : Mission /Objectives/Strategic priorities
MOS is known to represent “a managerial bridge” between the strategy and tactics; it helps set the mind at company’s main goals in everyday activities.
To sum up, it is worth noting that corporate mission must be realistic, concrete and specialized. It must stimulate staff to do business for their company and customers. The vision, in turn, reflects the company’s foresight and identifies its future development for 5-10 years. The company management transforms the mission and vision into strategic objectives.
As for image, it is a concrete figurative idea (external and internal) that helps to understand the point and goal of company’s activity. Company image should demonstrate its ability to gain stable positioning in competitive market. In other words, image represents a firm’s corporate identity.
As “Marks and Spenser” Co. states: “Our mission is our basic customer benefits. We respect them and meet their needs providing them for maximum service”. Peter Drucker? The famous guru in management, prices “M&S” as the best world company in the sphere of management. He notes that its course intends the stable growth and success.
What is success? How can we define it?
Every large-scale company follows “a spin of success”:
- definition of effective demand;
- concentration on the problem;
- competence;
- success.
The main problem is in the centre of a spin, i.e. the main problem definition. It is one of the most important parts; the more is known about it, the better. In other words, it is an effective demand – the strongest demand in the market. A company should find it, decide what to do for its satisfaction and, finally do it better than its competitors.
The next step is concentration on the problem. A company starts making decisions and … “the spin starts turning”.
The third stage is a competence. In fact, any company needs to be competent in solving the problem and taking business direction.
A set of competences has been developed;
1. Relationship building establishes mutual understanding and builds long-term relationships with key decision makers;