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2. Table of Contents

3. Executive Summary

A. The company description (name, objective of business)

B. Market potential (trends, sales volume, company’s major competitive advantages)

C. Financial summary (funding needed, summary of income statements for 3–5 years)

4. Description of business

A. Nature of business

B. Location of business

C. Legal form of organization

D. Description of products and/or services

E. Strength of business

F. Weaknesses of business and how they will be corrected

G. Why business will be successful?

5.Marketing Plan

6.Management and Organization of Business

A. Names of owners

B. Background of owners

C. Names of key managers (other than owners)

D. Qualifications of managers

E. Organization chart

F. Operating policies and procedures

G. Compensation of key positions

7. Resource Requirement

A. Financial resources needed

B. Sources of funds (funds provided by owners and creditors

C. Equipment needed (costs) D. Real estate needed (costs)

E. Personnel needed (total salaries)

8. Financial Plan

A. Projected income statements (3–5 years) B. Projected cash flow statements (3–5 years) C. Current balance sheet

9. Business Start-Up Schedule

A. Short-term and long-term objectives

B. Stated times the objectives will be accomplished

24 Sports management and marketing

Unit 2. Managing a Business

Pre-reading activities

I. Listen to your teacher’s reading and mark the stressed syllable in the

II. Check if these topical words and key phrases are known to you. If not, try to memorize them:

Pre-reading discussion

III. Discuss with your group-mates before you read the texts:

–what managerial activities you know;

–what the role of a manager in running a business is;

–what the term “a sports manager” means;

–how a sports club (facility) is managed.

That is he or she is able to perform a particular job. A supervisory manager must often understand a technical skill well enough to train workers in their jobs. All supervisory managers must have some administrative skills such as the ability to make schedules and to read computer printouts. Administrative skills can be applied in a wide range of industries.

All the skills that are required to get the people work together as a team are human skills One human skill that every manager should have is communication skill, that is skill оf transferring information. Oral communication-speaking and listening-generally takes up a substantial part of any business day. Within the firm there are meetings, presentations conferences, negotiations. All require effective oral communication. Within an organization especially a large one, letters, faxes, reports and other forms of written communication are used every day. At the same time written communication is very important in shaping the public image through sales brochures, advertisements, etc.

The ability to understand the relationship of parts to the whole constitute a manager’s conceptual skill. In even the smallest business the work has to be organized and controlled and the manager who wants things to run must understand their relationship to one another and to the whole business. Decision making is a managerial activity that takes conceptual skill.

However in different businesses managers tend to have the same set of functions planning, organizing, directing and controlling.

There is no doubt that the first managerial function is planning. A manager engaged in planning establishes goals for the organization and tries to determine the best ways to fulfill them.

The process of arranging resources to carry out the plans is called organizing.

Directing is a complex function which involves motivating the employees to do the job and leading, that is to show the employees how to do the job.

The fourth function is establishing control over the other three functions and taking necessary corrective actions.

Vocabulary and Speech Exercises

IV. Work individually or with a group-mate to answer these questions:

1.How many levels of management are needed to observe the activities of employees?

2.What are the responsibilities of upper-level, middle and operating managers?

3.What skills does a president or a board chairman employ?

4.What are the skills required to run a business?

5.What is meant by technical, human and conceptual skills?

6.What are the functions of a business manager?

V. Mark the following as true or false. Correct the false sentences:

1.It is enough to have one manager to oversee the work of all the employees.

2.The ability to make schedules and to read computer printouts forms conceptual skills of a manager.

3.The most important human skill is communication skill.

4.Decision making takes technical skills.

5.In different businesses managers have different sets of functions.

6.The process of arranging resources to carry out the plans is called planning.

7.Effective oral communication is not necessary for dealing with partners.

VI. Match these words with the dictionary definitions:

VII. Add these word combinations and phrases to the word map:

toanalyzeinformation;tomakeschedules;toplanthegoals;toimplement the orders of the top managers; to receive information from the operating managers; to make decisions; to analyze the trends; to deal with people; totakeoverallresponsibilityforthecompany;tomotivatetheemployees; to analyze economic estimate; to transmit information to the upper-level managers; to train workers; to arrange resources.

VIII. Complete the following sentences using suitable words from the word-box:

managers,employees,staff,responsibility,skills,decisions,controlling, communication

1.People who take decisions in a company are called ... .

2.Amanager is a person who oversees the activities of the ... .

3.There are three basic levels of managerial ... .

4.Every manager needs some ... to run a company.

5.Apresident is a person who makes ... .

6.The Chairman of the Board takes overall ... for the company.

7.... is one of the main managerial functions.

8.Negotiations require effective oral ... .

IX. Fill in the prepositions where necessary:

1.Generally the managerial staff consists ... three basic levels.

2.Upper-level managers take overall responsibility ... the company.