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. They are (5) ____________ and advised and have their decisions and performance (6) ______________ by the board. The directors of private companies were traditionally major shareholders, but this does not apply to large public companies with wide share ownership. Such companies should have boards (7) ______________ of experienced people of integrity and with a record of performance in a related business and a willingness to work to make the company successful. In reality, however, companies often appoint people with connections that will impress the finacial and political milieu. Yet a board that does not demand hight performance and remove inadequate executives will probably eventually find itself (8) _________ and displaced by raiders.

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