Committee of directors creates institutional level of management. They form organization’s mission, set goals and propagandize main corporate principles. Senior managers coordinate performance of executors, define methods of their motivation, improve the system of management and perform foreign-economic activity. Another example of managerial levels can be seen in educational system, which has heads of the chair in every faculty that are representatives of minor management, deans, who represent administrative layer and control university departments, and finally chancellor, who monitors the work of all faculties. Question 2 There are four major functions of management. They are planning, organization, motivation and control. Hence, every manager before completing any task plans carefully required actions. Then it is important to organize the work of personnel and delegate authorities. Also, it is essential to choose the right stimulating methods that will encourage other people to achieve company’s goals. And the final function is control that presupposes the comparison of attained result with a planned one and its further adjustment. For example, a manager has a task to make a report about weekly sales. Firstly, it is important to find out how many people will work on this task, how to plan working time according to the deadline and what kind of results are supposed to be reached. Secondly, a manager should notify specific employees about new task and provide them with necessary information and sources. Thirdly, a manager must motivate own staff to complete quality job within the deadline. For instance, a manager may promise to pay bonuses for this report to specific employees. And finally, a manager must always control the work of the staff in case if they need any assistance or some kind of advice. When the task is completed, a manager should check actual results. Four functions of management can be seen in another example, such as the process of setting own business. Hence, first of all every manager should plan and define the sphere of business, location of the office, design, name, quality characteristics of the product, number of employees, sum of start-up capital and others. Then there is a process of organization, when a manager hires required personnel, purchases raw materials and permanent assets, sings a lease contract, arranges production process and so on. Thirdly, it is important to provide appropriate schedule, working conditions and salaries for being able to motivate the staff. And the fourth function should be everlasting control, which helps to define strengths and weaknesses of the company’s performance. Question 3 The main essential skills that every manager should educe are the following: Problem solving and decision making Time management and organizational skills Communication skills Business is impossible without predicaments, problems and choices that should be done. Therefore, being resolute, courageous and confident, every manager should be able to take risk and make correct decisions. It is important to arrange own time in the most economic and effective way. Also, a manager must be able to organize the work of other employees properly.