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Contents

INTRODUCTION 6

MANAGEMENT IN CONTEXT

1 Perspectives on management 8

A What is managing?B MintzbergC Management practice

2 Organization structures 10A Organizational structuresB An example of a divisional structure

3 Some management gurus 12A Henri Fayol (1841–1925)B Frederick Winslow Taylor (1856–1915)C Peter Drucker (1909–2005)

4 Management in different sectors 14

A PrivateB PublicC Not for profi t

5 Resources managers use 16A Data and informationB TimeC Money

INNOVATION

6 Innovation and creativity 18A Sources of innovationB Trevor Baylis: a case study on the value of

market research in the innovation process 1

7 Screening ideas 20A Criteria for screening ideasB Trevor Baylis: a case study on the value

of market research in the innovation process 2

8 Feasibility studies 22A The new product development processB Is there a need for a product or service?

9 New product development in practice 24

A Diffusion of innovation and customer adoption of new products

B The Maclaren Baby BuggyC Some disasters

10 Intellectual property 26A PatentsB Software piracyC Creative Commons

MARKETING

11 Marketing principles 28A Needs and wantsB Development of marketing techniques

12 Marketing planning 30A The benefi ts of marketing planningB SWOT analysis – Caffè Italia, a UK

coffee retail outlet

13 The marketing mix 32A The four Ps / the seven Ps of the

marketing mixB Product life cycle

14 Market research 34A STEEP analysisB Market research methods

15 Using the Internet for marketing 36

A Market research onlineB The Long Tail and Freemium

16 Doing business online 38A The four Ps onlineB Viral marketing in actionC Doing business online

OPERATIONS

17 Processes 40A Managing operations overviewB Porter’s value chainC Contingency planning and risk

Cambridge University Press978-0-521-17685-9 – Professional English in Use ManagementArthur Mckeown and Ros WrightTable of ContentsMore information

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4 Professional English in Use Management

28 Managing across cultures 62A HofstedeB Cross-cultural competenceC Cross-cultural differences

FINANCE

29 Financial accounting and management accounting 64

A Financial accountingB Management accounting

30 Business valuation and interpretation of accounts 66

A How much is a business worth? A case study in valuation of assets

B A shareholder’s perspective

31 Banking and fi nancial services 68

A Zopa and the banksB Applying for a bank loanC Cash management services and payment

products

32 Raising fi nance – equity and debt 70

A Venture capital and private equityB A good business planC Debt or equity fi nancing – Microsoft and

Manchester United

33 Mergers and acquisitions 72A Value creation and synergyB Implementing M&As and post-merger

integration

34 Corporate governance 74A Company ownership and the principal-

agency problemB Executive compensationC The board of directors

35 Risk management 76A Risk management and fi nancial planningB Risk management and investment

36 Managing in diffi cult times 78A A year that changed the worldB Capital markets and the credit crunch

18 Suppliers 42A Supply chainsB PurchasingC Outsourcing

19 Managing quality 44A QualityB ISO 9001:2008C EFQM

20 Customer care 46A Customer relationship management (CRM)B Customer journey mapping

21 Operations online 48A Just-in-time and online inventory

managementB Online tendering

PEOPLE AND HUMAN RESOURCES

22 Recruitment and selection 50A The recruitment and selection processB Recruitment of temporary staffC Employment legislation and equal

opportunities

23 Motivation and job design 52A HerzbergB Hackman and Oldham’s job

characteristics model

24 Performance appraisal, feedback, training and development 54

A 360-degree feedbackB Training options

25 Teams 56A TuckmanB BelbinC Emotional intelligence

26 Managing knowledge and learning in organizations 58

A Learning organizationsB Knowledge management

27 Leadership 60A Transactional and transformational leadersB Is there a difference between leadership

and management?

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STRATEGY AND CHANGE

37 Strategic options 80A Porter – competitive forcesB Ansoff – product development versus

market developmentC Case study: the world watch industry

38 Analysis 82A Gaining competitive advantage through

corporate strategyB Mission, tactics and operational planningC Scenario planning

39 Managing change 84A Planning for change with force fi eld

analysisB Overcoming resistance to change

40 Action planning 86A Implementing strategy – management by

objectivesB SMART objectivesC Resource allocation

Appendix: US English terms 88

Answer Key 90

Index 112

Acknowledgements 120