Top Marketing

Complete the text using the correct form of these verbs:

achieve allocate balance deal with develop

employ establish follow require set

The top managers of a company (1) have to _________ objectives and then develop particular strategies that will enable the company to (2) _____________ them. This will involve (3) _____________ the company's human, capital and physical resources. Strategies can often be sub-divided into tactics - the precise methods in which the resources attached to a strategy are (4) ____________.

The founders of a business usually establish a „mission statement“ - a declaration about what the business is and what it will be in the future. The business's central values and objectives will (5) _____________ from this. But because the business environment is always changing, companies will occassionally have to modify or change their objectives. It is part of top management's role to (6) ____________ today's objectives and needs against those of the future, and to take responsibility for innovation, without which any organization can only expect a limited life. Top managers are also expected to set standards, and to (7) __________ human resources, especially the future top managers.

They also have to manage a business's social responsibilities and its impact on the environment. They have to (8) _________ and maintain good relations with customers, major suppliers, bankers, government agencies, and so on. The top management, of course, is also on permanent stand-by to (9) ________ major crises.

Between them, these tasks (10) ___________ many different skills which are almost never found in one person, so top management is work for a team. A team, of course, is not the same as a committee: it needs a clear leader, in this case the chairman or managing director.

The Board of Directors

Complete the text using these verbs:

appointed attacked combined defined constituted reviewed supervised supported

Large British companies generally have a chairman of the board of director who oversees operations, and a managing director (MD) who is responsible for the day-to-day running of the company. In smaller companies, the roles of chairman and managing director are usually (1) ___________. Americans tend to use the term president rather than chairman, and chief executive officer (CEO) instead of managing director. The CEO or MD is (2) ________________ by various executive officers or vice-presidents, each with clearly (3) _____________ authority and responsibility (production, marketing, finance, personnel, etc.).

Top managers are (4) ________________ (and sometimes dismissed) by a company's board of directors.

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