Task 1. Read the text carefully paying attention to the words given in italics

The strategic-management process can best be studied and applied using a widely accepted, comprehensive model of the strategic-management process. This model does not guarantee success, but it does represent a clear and practical approach for formulating, implementing and evaluating strategies. The model shows relationships among major components of the strategic-management process.

Identifying an organization’s existing mission, objectives and strategies is the logical starting point for strategic management because a firm’s present situation and condition may preclude certain strategies and may even dictate a particular course of action. Every organization has a mission, objectives and strategy, even if these elements are not consciously designed, written or communicated. The answer to where an organization is going can be determined largely by where the organization has been!

The strategic-management process is dynamic and continuous. A change in any one of the major components in the model can necessitate a change in any or all of the other components. For instance, a shift in the economy could represent a major opportunity and require a change in long-term objectives and strategies; or a failure to accomplish annual objectives could require a change in policy; or a major competitor could announce a change in strategy that requires a change in the firm’ mission. Therefore, strategy formulation, implementation and evaluation activities should be performed on a continual basis, not just at the end of the year or semiannually. The strategic-management process never really ends.

The strategic-management process is not as cleanly divided and neatly performed practice as the strategic-management model suggests. Strategists do not go through the process in lockstep fashion. Generally, there is give-and-take among hierarchical levels of an organization. Many organizations conduct formal meetings semiannually to discuss and update the firm’s mission, opportunities/threats, strengths/weaknesses, strategies, objectives, policies and performance. These meetings are commonly held off-premises and called retreats. The rationale for periodically conducting strategic-management meetings away from the work site is to encourage more creativity and candor among participants. Good communication and feedback are needed throughout the strategic-management process.

A number of different forces affect the formality of strategic management in organizations. Size of organization is a key factor; smaller firms are less formal in performing strategic-management tasks. Other variables that affect formality are management styles, complexity of environment, complexity of production process, nature of problems and purpose of planning system.

Task 2. Answer the following questions:

1. What does strategic management model represent?

2. How can one characterize the strategic management process?

3. When is strategic management process usually over?

4. Why is identifying an organization’s existing mission the logical starting point of strategic management?

5. Why do many organizations conduct their retreats off-premises.

Task 3. Agree or disagree giving your reasons:

1. The strategic management model always guarantees success.

2. If you want to know a company’s future you should know its past.

3. Strategy formulation, implementation and evaluation should be performed semiannually.

4. Feedback is very important for the strategic management process.

5. Complexity of environment and purpose of planning system are the constants that affect formality.

Section 2: Word Power

Task 1. Find in the text the English equivalents of the following Russian words and expressions:

общепринятый, понятный, практический подход, отправная точка, устранять, сознательно созданный (сконструированный), например, неизбежно повлечь за собой, сдвиг (изменение), достигать цель, конкурент, постоянная основа, медленно («черепашьим шагом»), взаимные уступки (компромисс), проводить собрание, не в помещении, стимулировать творчество, беспристрастие, обратная связь, влиять на ч-л.

Task 2. Fill in the blanks with prepositions where necessary:

1. A good strategic manager must perform his duties quickly but not … a lock step fashion.

2. … instance, this strategic management model helped us to survive two years ago.

3. Any strategist knows what factors affect … the stability of a company.

4. We’ll hold our next retreat … the end of this month.

5. Informal meetings are very important for encouraging candour … employees.

Task 3. Supply the English equivalents of the Russian words given in brackets:

1. If you want to create comfortable atmosphere at your company you should be ready for (взаимные уступки).

2. What was (отправная точка) of your business?

3. A person should perform their activities on (постоянная основа) if they want to be a success.

4. The more creativity they (стимулировать) in their employees the greater their profits will be.

5. You shouldn’t underestimate your (конкурентов).

Task 4. Translate the sentences from Russian into English:

1. Что помогает вашему бизнесу избежать чужого захвата?

2. Хороший стратегический менеджмент дает возможность любому бизнесу достигнуть цели.

3. Их бизнес удачный, потому что они вкладывают много денег в рекламу.

4. Согласно недавнему обзору, товарооборот этой фирмы значительно вырос.

5. Вы можете дать этому разумное объяснение?

6. Каждая долгосрочная цель требует целого набора ежегодных целей.

7. Один из принципов нашего стратегического менеджмента – сохранение репутации качества.

Section 3: Grammar Focus