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BEC商務(wù)英語(高級(jí))閱讀模擬試卷5(共9套)(共446題)BEC商務(wù)英語(高級(jí))閱讀模擬試卷第1套一、概括文意配伍(本題共8題,每題1.0分,共8分。)Lookatthestatementsbelowandatthefiveextractsfromanarticleaboutwhattheyshouldtrytolearnandhoweffectiveorganizationallearningtakesplaceandistranslatedintoaction.Whicharticle(A,B,C,DorE)doeseachstatement1—8referto?Foreachstatement1—8,markoneletter(A,B,C,DorE)onyourAnswerSheet.Youwillneedtousesomeoftheselettersmorethanonce.Thereisanexampleatthebeginning,(0).AThelearningorganizationisonewheretheorganizationisdevelopingthecorecompetenciesthatwillgiveitcompetitiveadvantageinthemarketplace.Thesecorecompetenciesareoftwokinds:technicalcompetencieswhichprovidethekeytotheorganization'smarketposition;andmanagementcompetencieswhicharevitaltoitsperformanceasanintegratedorganization.BThekeyaspectsofindividualmanagementdevelopment,suchasrecruitment,training,careerdevelopment,jobrotation,specialassignments,meaningfulwork,relevantrewardsystems,needtobeembeddedinorganizationalsystems,structures,valuesandpoliciesandconsistentlyappliedinpractice.Inalearningorganization,managementdevelopmentisnotanonagain,offagainactivity.CAnorganizationfullofchangeeffectivemanagersonly,orofoperationalmanagersonly,islikelytobeheadedtowardsbankruptcy.Abalanceisneededbetweenoperationalandreshapingcompetencies.Partofthatbalanceneedstobefoundwithinindividuals,partofitintherespectivestrengthsofindividuals,andpartswithintheembeddedprocessesandresourcesoftheorganization.Thishasimportantimplicationsfortheplacingofmanagersinjobsandalsoformovingthemwhentheirkeyskillsarenolongersorelevantandthemanagerialneedsoftheirpositionschange.Italsohasimplicationsforthecompositionoftopteams.Unlessthetopteamincludessomepowerfulmemberswhoarecommittedtolong-termperformance,theorganizationisunlikelyinthelongertermtobuildthosereshapingcompetenciesthatwillensureitsownrenewalthatis,tobecomealearningorganization.DForward-lookingorganizationsareincreasinglyidentifyingpotentialchangeleadersearlyintheircareers,givingthemresponsibilitiesforsmallerchangeprojectsandtheopportunitytoworkcloselywitheffectivechangepractitionerssothattheycandeveloptherangeofreshapingcompetenciesthatthefirmsincreasinglyneed.Somefirmsarealsotakingsomeoftheirmosteffectivemanagersoff-lineandgivingthemprojectresponsibilitiesthatencouragethemtoaugmenttheirexistinghighlevelsofoperationalcompetencieswithreshapingcompetencies.Ensuringthatmanymanagersatcriticalstagesoftheircareershavetheexperienceofmanagingtransitionsisvitaltodevelopingamanagerialmindsetthatbalancestherelativeimportanceofmaintainingeffectiveongoingoperationswithtransformingthem.Itisthismindsetthatsupportstheneedforcurrentperformancewiththeopennesstochangethatunderliesalearningorganization.EInsomecases,reshapingcompetenciesmaydetractfromimmediatebusinessresults.Reshapingcompetenciesrequiresconsiderableinvestmentofresources,effortandtimesometimesforlittleornoimmediatebenefit.Theirexpectedbenefitsareoftendifficulttoquantifyormeasureandtheresultsonlyshowupovertime.Furthermore,continualinvestmentisneededtomaintainthem.Thebenefitsofcreatinglearningorganizationsdonotcomefree.Theyalsodonotcomeunmanaged.Tobeeffectiveinmeetingtheorganization'spurposes,organizationallearningneedstobeamanagedprocessandorganizationallearningakeyresponsibilityoftopmanagement.Thecreationanduseofreshapingcompetencies,bothpersonalandcorporate,isthekeycharacteristicofthelearningorganization.1、Thedevelopmentofindividualmanagersmustitselfbecomeacorporatecompetence.標(biāo)準(zhǔn)答案:B知識(shí)點(diǎn)解析:暫無解析2、Coursescanmakeanimportantcontributionbutneedtobecombinedwithapprenticeship,experientiallearningandmentoring.標(biāo)準(zhǔn)答案:D知識(shí)點(diǎn)解析:暫無解析3、Thatafirmsucceedsornotdependsonwhatitchoosestodoratherthantheenvironmentitoperates.標(biāo)準(zhǔn)答案:A知識(shí)點(diǎn)解析:暫無解析4、Reshapingcompetenciesaddslittletoimmediatebusinessresults.標(biāo)準(zhǔn)答案:E知識(shí)點(diǎn)解析:暫無解析5、Afirmperformswellifitdevelopsa"distinctivecompetence"overtime.標(biāo)準(zhǔn)答案:A知識(shí)點(diǎn)解析:暫無解析6、Acompanyneedstogiveitsmanagersasmanyopportunitiesaspossibletoaccessothertasks.標(biāo)準(zhǔn)答案:D知識(shí)點(diǎn)解析:暫無解析7、Reshapingcompetenciesmaynotbringgreatbenefittothecorporationimmediately.標(biāo)準(zhǔn)答案:E知識(shí)點(diǎn)解析:暫無解析8、Managersdonotneedidenticalsetsofcompetencies.標(biāo)準(zhǔn)答案:C知識(shí)點(diǎn)解析:暫無解析二、段落完型(本題共6題,每題1.0分,共6分。)ReadthistexttakenfromanarticleaboutbusinessandsocialresponsibilityChoosethebestsentencetofilleachofthegaps.Foreachgap9—14,markoneletter(A—H)onyourAnswerSheet.Donotuseanylettermorethanonce.Thereisanexampleatthebeginning,(0).BusinessandSocialResponsibilityTodaymoreandmorepeoplebelievethatbusinessshouldplayanactiveroleinimprovingsocietyandsolvingsocialproblems.Forexample,weexpectthatbusinesseswilltakecarenottopollutetheairwebreatheorthewaterwedrink.(0)______BManycompaniesrecognizethisandhavestatedpubliclythattheywillactasagoodcitizen.Theysupportlocalarts,buildparks,raisefundsforcharities,andtrytoputbacksomeoftheirprofitsintothecommunitythathasmadetheirsuccesspossible.Agoodreasonforbusinessestobesociallyresponsibleisthatsocietygivesbusinessorganizationstherighttoexist.(9)______Itisonlyrightforbusinessestoparticipateinmakingthecommunityinwhichtheyoperateabetterplace.Inaddition,beingsociallyresponsiblebenefitsbusinesses.(10)______Customersactuallyvoteforproductsandcompanieswhentheymakeapurchase.Ifaproductisofgoodqualityandpricedfairly,theywillprobablybuyitmorethanonce.However,whencustomersfindoutthatamanufacturerproducesonlyinferiororshoddyproductsthatcheatthemoutoftheirmoney,theymaybecomesoangrythattheywillneverpurchaseanotheroneoftheirproducts.(11)______Whenenoughpeoplebelieveabusinessnolongerservessociety'sbestinterests,theymaypressurethefirmintoitsdoombyboycottingitsgoodsorservices,influencingofficialsagainstit,condemningitinthemedia,orpatronizingotherfirms.(12)Onlybusinessthatareconcernedaboutsocietyaswellasaboutmaintainingprofitabilityarelikelytoinvestvoluntarilyinsociallyresponsibleactivities.Forexample,theformerpresidentofPizzaHut,OrrGunther,implementedaprogramcalled"Book-it".Thisprogramrewardedchildrenwithafreepizzaforreadingacertainnumberofbooks.(13)______Tobesuccessful,abusinessmustdeterminewhatcustomersandsocietywantorexpectintermsofsocialresponsibility.Althoughsocialresponsibilitymayseemanabstractidea,managersconsideritonadailybasisastheydealwithrealissues.(14)______AConsumersmayalsoshunfirmsthatpollutetheenvironmentorengageinunethicalpracticesbynotpurchasingtheirproducts.BWealsoexpectthemtoofferfairwagesandemployeebenefitsandtoprovideasatisfactoryproductorserviceatareasonableprice.CAbusinesswhosegoalistomaximizeprofitsisnotlikelytoactoutofasenseofsocialresponsibilityeventhoughitsactivitywillprobablybelegal.DAsocialsettingorenvironment,withitslaws,customs,andothersocialandculturalnorms,allowsbusinessestoformandfunction.EInmanycases,acompanywillmakegreaterprofitsinthelongrunifitconsidersthebenefitstosociety.FAbusinessmustmonitorchangesandneedsinsocietyinordertobehaveinasociallyresponsibleway.GWhenabusinessisownedentirelybyoneperson,thebusinessiscalledasoleproprietorship.HSuchabusinessmaywinthetrustandrespectofitscustomersandinthelongrunincreaseprofits.9、標(biāo)準(zhǔn)答案:D知識(shí)點(diǎn)解析:暫無解析10、標(biāo)準(zhǔn)答案:E知識(shí)點(diǎn)解析:暫無解析11、標(biāo)準(zhǔn)答案:A知識(shí)點(diǎn)解析:暫無解析12、標(biāo)準(zhǔn)答案:C知識(shí)點(diǎn)解析:暫無解析13、標(biāo)準(zhǔn)答案:H知識(shí)點(diǎn)解析:暫無解析14、標(biāo)準(zhǔn)答案:F知識(shí)點(diǎn)解析:暫無解析三、常規(guī)閱讀理解(本題共6題,每題1.0分,共6分。)Readthefollowingextractfromanarticleabouttheadvantagesofmakingthefirstoffer/demandinnegotiation.Foreachquestion15—20,markoneletter(A,B,C,orD)onyourAnswerSheetfortheansweryouchoose.Makingthefirstoffer/demandcangiveapsychologicaladvantage.Duringanegotiation,issues,positions,andeveninterestsshiftandrealigninaccordancewithamanageddisclosureofinformation.Understandingthepowerofperceptionisparamount.Ifonepersonacquiresthepowertomanipulatetheperceptionofothers,thatpersonenjoysasubtlebutpowerfuladvantage.Makingthefirstsignificantmovecanbeapowerfulstatementandcanaffectothers'perceptionsoftheonemakingtheofferandofthesituationingeneral.Inmilitaryterms,theopeninggambitis"takingtheinitiative".Onceonepartytakestheinitiative,theothersidefrequentlyfindsitdifficulttoregainitsownmomentum.Makingacompetentfirstoffer/demandcantakecontroloftheentirenegotiation.Acompetentopeninggambitgoeshandinhandwiththeideaofcreatingapsychologicaladvantage.Theconceptisanalogoustothetheoryof"primacy"inacourtroomtrial.Thatis,onceaparticipantgetstheinitiativeandcompetentlyrunswithit,theothersideusuallyremainsinareactivemode.Therearetechniquesthatgoodstrategistscansometimesusetoregaintheinitiative,butsuchprocedurestendtobe"dicey".Unlessrecoverystrategiesareexecuteddeftlybyanexperiencednegotiator,thepartytryingtoregaintheinitiativerunstheriskofturninganegotiationintoaconfrontational/adversarialevent.Suchanoutcomegivesrisetoahostofdifficulties.Makingawell-thought-outfirstoffer/demandshowsconfidenceinyourposition.Ithasbeensaidthatthelawiswhatisforcefullystatedandplausiblymaintained.Likewise,innegotiation,ifonepartymakesastrongplausibleopening,thatopeningcanoftenconvincetheotherpartythatthisoffermeritscarefulconsideration—thatitiscredible.Ifpresentedintherightway,awell-thought-outfirstoffercansendamessagethatthepartymakingtheofferisstrongandconfident.Suchanoffercancausetheotherpartytorethinkhisorherposition.Itisimportanttonote,however,thatthisconfidencefactoredgeislimitedtoagoodfaithoffermadewiththeintentofactuallymakingadeal.Iftheofferordemandismerelyafishingexpedition,thatistantamounttopositioningbymakingaveryloworveryhighopening.Thenthetoneandwordsusedtocouchtheoffershouldbechosensothattheyeffectivelytransmittheintentbehindtheoffer.Givingunsupportablefigureswrappedinamantleofcredibilityisveryconfusingandcouldsabotagethewholenegotiationprocess.Makinganeffectivefirstoffer/demandshowspreparation.Awellprepared,strong,confidentopeningoffer/demandsendsamessagethat"Thispersondidhis/herhomework".Unfortunately,toomanytimesthepartiesdonotadequatelyprepareforanegotiation.Whenonepartyprepareswellandtheotherdoesnot,theresultcanbeintimidatingtothelesspreparedperson.Withoutevenintendingto,thebetterpreparedpartytakestheinitiativeanddoesnotloseit.Thepreparednegotiatorisusuallytheonewhoclaimsthelargersurplusinagivennegotiation.However,insomecircumstancesabetterpreparedpersonmightchoosetowaitandlettheotherpartymakethefirstoffer.Suchastrategystillcanbeconsistentwiththeoverallthemepresentedhere,namely,thatthefirstmove—theopeninggambit—shouldbeathoughtful,consideredmove.Itshouldnotbeadefault.15、Whatmightbethefirstsignificantmoveinnegotiatingprocess?A、Creatingapsychologicaladvantage.B、Apowerfulstatementthatmanipulatestheperceptionofothers.C、Takingtheinitiative.D、Gainingthemomentum.標(biāo)準(zhǔn)答案:B知識(shí)點(diǎn)解析:暫無解析16、Whatiscreatedbybothacompetentfirstoffer/demandand"primacy"inacourtroomtrial?A、Theperceptionofothers.B、Areactivemode.C、Aconfrontationalevent.D、Apsychologicaladvantage.標(biāo)準(zhǔn)答案:D知識(shí)點(diǎn)解析:暫無解析17、Whatisnottrueaboutregainingtheinitiativeaccordingtothepassage?A、Goodstrategistscansurelyusesometechniquestoregaintheinitiative.B、Tryingtoregaintheinitiativerunstheriskofgivingrisetoahostofdifficulties.C、Thoughrecoverystrategiesareexecuteddeftlybyanexperiencednegotiator,theprocedurestendtoberisky.D、Thoughrecoverystrategiesareexecuteddeftlybyanexperiencednegotiator,thenegotiationmayturnintoanadversarialevent.標(biāo)準(zhǔn)答案:A知識(shí)點(diǎn)解析:暫無解析18、Ifonepartymakesastrongplausibleopeningintherightway,thatopeningcanoftenA、causetheotherpartytorethinkhisorherposition.B、leadtoanadversarialevent.C、sabotagethewholenegotiationprocess.D、causetheotherpartytoloseconfidence.標(biāo)準(zhǔn)答案:A知識(shí)點(diǎn)解析:暫無解析19、Whatkindofanoffercouldletthewholenegotiationprocessgosmoothly?A、Averyloworveryhighopening.B、Unsupportablefigureswrappedinamantleofcredibility.C、Agoodfaithoffer.D、Astrongplausibleopening.標(biāo)準(zhǔn)答案:C知識(shí)點(diǎn)解析:暫無解析20、Whichofthefollowingsituationsisathoughtful,consideredfirstmove?A、Abetterpreparedpersonwaitedandlettheotherpartymakethefirstofferinsomecases.B、Awellpreparedpartygaveunsupportablefigureswrappedinamantleofcredibilitytryingtoclaimthelargersurplus.C、Awellpreparedpartywasusingthenegotiabletoneandwordstocouchtheoffer.D、Awellpreparedpartywasusingrecoverystrategieswiththehelpofanexperiencednegotiator.標(biāo)準(zhǔn)答案:A知識(shí)點(diǎn)解析:暫無解析四、完形填空(單選)(本題共10題,每題1.0分,共10分。)Readthearticlebelowaboutjobmarket.ChoosethecorrectwordorphrasetofilleachgapfromA,B,C,orD.Foreachquestion21—30.markoneletter(A,B,C,orD)onyourAnswerSheet.Thereisanexampleatthebeginning,(0).Injusteightyears,by2010,therewillbe58millionjobsintheUnitedStates,(0)DtheBureauofLaborStatistics.Thebureau(21)______betweennowand2010some22millionnewjobswillbecreated.And36millionmore(22)______willresultfromretirementsandotherswhodropoutoftheworkforce.Nearlyallthatjob(23)______,incidentally,willcomeintheservicesector.Manufacturingjobswillgrowatonly(24)______ofapercentannually.That'snotbecausethosejobsaregoingoverseas,bytheway.Blametheslowgrowthinmanufacturing(25)______thefastgrowthinmanufacturingproductivity.EdPotter,presidentoftheEmploymentPolicyFoundationsinWashington,saidthefoundation'sanalysisofjobgrowthandwhat's(26)______happeningineducationshowtherecouldbeas(27)______as3.5millionprofessionalsattheendofthisdecade.Despitethecurrentrecessionandlayoffs,a(28)______ofemployersbytheNationalAssociationofManufacturersfound80percentofcompaniessayasevereshortageofqualifiedjob(29)______alreadyexists.And60percentofthosecompaniessaidthelackofskilledworkerswas(30)______theirabilitytoproduce.21、A、persistsB、predictsC、distinguishesD、extinguishes標(biāo)準(zhǔn)答案:B知識(shí)點(diǎn)解析:暫無解析22、A、openingsB、peopleC、employeesD、occupations標(biāo)準(zhǔn)答案:A知識(shí)點(diǎn)解析:暫無解析23、A、seekersB、growthC、applicationD、application標(biāo)準(zhǔn)答案:C知識(shí)點(diǎn)解析:暫無解析24、A、three-tenthsB、third-tenC、third-tenthsD、thirds-ten標(biāo)準(zhǔn)答案:A知識(shí)點(diǎn)解析:暫無解析25、A、forB、withC、onD、above標(biāo)準(zhǔn)答案:C知識(shí)點(diǎn)解析:暫無解析26、A、reliablyB、currentlyC、fortunatelyD、definitely標(biāo)準(zhǔn)答案:B知識(shí)點(diǎn)解析:暫無解析27、A、manyB、strongC、confidentD、short標(biāo)準(zhǔn)答案:D知識(shí)點(diǎn)解析:暫無解析28、A、surveyB、lotC、showD、group標(biāo)準(zhǔn)答案:A知識(shí)點(diǎn)解析:暫無解析29、A、increaseB、candidatesC、declineD、interviewers標(biāo)準(zhǔn)答案:B知識(shí)點(diǎn)解析:暫無解析30、A、influencingB、effectingC、enhancingD、improving標(biāo)準(zhǔn)答案:C知識(shí)點(diǎn)解析:暫無解析五、完形填空(填空)(本題共10題,每題1.0分,共10分。)Readarticlebelowaboutpredisciplinerecommendations.Foreachquestion31—40.writeonewordinCAPITALLETTERSonyourAnswerSheet.Thereisanexampleatthebeginning,(0).PREDISCIPLINERECOMMENDATIONS(0)...anemployeeisdisciplined,managementcantakeseveralstepstoensurethattheactionwillbeconstructiveandwillnotlikelyberescinded(31)______higherlevelsofmanagement.Adequaterecordsare(32)______utmostimportanceindisciplinecases.Writtenrecordsoftenhaveasignificantinfluence(33)______decisionstooverturnadisciplinaryaction.Pastruleinfractionsandoverallperformanceshouldberecorded.Anotherkeyresponsibilityofmanagementistheinvestigation.Thingsthatappearobvious(34)______thesurfacearesometimescompletelydiscreditedafterinvestigation.Accusations(35)______anemployeemustbesupportedbyfacts.Anydecisionstodisciplineemployeeshavebeenoverturnedduetoanimproperorless(36)______thoroughinvestigation.Unduehasteintakingdisciplinaryaction,takingtheactionwhenthemanagerisangry,andimproperandincompleteinvestigationsfrequentlycausedisciplinaryactionstoberescinded.Anemployee'sworkrecordshouldalsobeconsideredapartoftheinvestigation.Goodperformanceandlongtenurewiththeorganizationareconsiderations(37)______shouldinfluencetheseverityofadisciplinaryaction.Naturally,theinvestigationmusttakeplace(38)______anydisciplineisadministered.Amanagershouldnotdisciplineanemployeeandthenlookforevidencetosupportthedecision.Atypicalfirststepintheinvestigationofthefactsis(39)______managementtodiscussthesituationwiththeemployee.Providingtheemployeewithanopportunitytopresenthisorhersideofthesituationisessential(40)______adisciplinarysystemistobeviewedpositivelybyemployees.31、標(biāo)準(zhǔn)答案:BY知識(shí)點(diǎn)解析:暫無解析32、標(biāo)準(zhǔn)答案:OF知識(shí)點(diǎn)解析:暫無解析33、標(biāo)準(zhǔn)答案:ON知識(shí)點(diǎn)解析:暫無解析34、標(biāo)準(zhǔn)答案:ON知識(shí)點(diǎn)解析:暫無解析35、標(biāo)準(zhǔn)答案:AGAINST知識(shí)點(diǎn)解析:暫無解析36、標(biāo)準(zhǔn)答案:THAN知識(shí)點(diǎn)解析:暫無解析37、標(biāo)準(zhǔn)答案:THAT/WHICH知識(shí)點(diǎn)解析:暫無解析38、標(biāo)準(zhǔn)答案:BEFORE知識(shí)點(diǎn)解析:暫無解析39、標(biāo)準(zhǔn)答案:FOR知識(shí)點(diǎn)解析:暫無解析40、標(biāo)準(zhǔn)答案:IF知識(shí)點(diǎn)解析:暫無解析六、改錯(cuò)(本題共12題,每題1.0分,共12分。)Readthetextbelowaboutafter-saleservice.Inmostofthelines41—52thereisoneextraword.Itiseithergrammaticallyincorrectordoesnotfitinwiththemeaningofthetext.Somelines,however,arecorrect.Ifalineiscorrect,writeCORRECTonyourAnswerSheet.Ifthereisanextrawordintheline,writetheextrawordinCAPITALLETTERSonyourAnswerSheet.Theexercisebeginswithtwoexamples,(0)and(00).0Serviceisthepromptdeliveryoftheproduct.Itiscourteoussalespersonnel.Itisa00userorservicemanualmodifiedtomeetforyourcustomer'sneeds.Itisready41accesstoaservicefacility.Itisknowledgeable,cost-effectivemaintenance,and42repair,orreplacement.Serviceisdealersupport.Servicevariesbytheproducttype,43thequalityoftheproduct,thepriceoftheproduct,andthedistributionchannelof44employed.Soforexportproductsthatrequirenoservice-suchasfoodproducts,45someconsumergoods,andcommercialdisposables,theissueisresolvedwhen46oncedistributionchannelshavebeenidentified.Ontheotherhand,becausethe47characteristicsoftheconsumerdurablesandsomeconsumablesdemandthat48servicebeavailable.Forsuchproducts,serviceisafeaturethatexpectedbythe49consumer.Infact,foreignbuyersofindustrialgoodstypicallyplaceserviceatthe50forefrontofthecriteriatheyevaluatewhentheymakingapurchasedecision.An51exportingfirm'sstrategyandmarketentrydecisionmaybedictatethatitdoesnot52providewithafter-saleservice.Itmaydeterminethatitsexportobjectiveisthesingleormultipleopportunisticentryintoexportmarkets.Althoughthisapproachmayworkintheshortterm,subsequentproductofferingswillbelesssuccessfulasbuyersrecallthefailuretoprovideexpectedlevelsofservice.Asaresult,marketdevelopmentandsalesexpendituresmayresultinone-timesales.41、標(biāo)準(zhǔn)答案:AND知識(shí)點(diǎn)解析:暫無解析42、標(biāo)準(zhǔn)答案:CORRECT知識(shí)點(diǎn)解析:暫無解析43、標(biāo)準(zhǔn)答案:OF知識(shí)點(diǎn)解析:暫無解析44、標(biāo)準(zhǔn)答案:SO知識(shí)點(diǎn)解析:暫無解析45、標(biāo)準(zhǔn)答案:WHEN知識(shí)點(diǎn)解析:暫無解析46、標(biāo)準(zhǔn)答案:BECAUSE知識(shí)點(diǎn)解析:暫無解析47、標(biāo)準(zhǔn)答案:THE知識(shí)點(diǎn)解析:暫無解析48、標(biāo)準(zhǔn)答案:THAT知識(shí)點(diǎn)解析:暫無解析49、標(biāo)準(zhǔn)答案:CORRECT知識(shí)點(diǎn)解析:暫無解析50、標(biāo)準(zhǔn)答案:THEY知識(shí)點(diǎn)解析:暫無解析51、標(biāo)準(zhǔn)答案:BE知識(shí)點(diǎn)解析:暫無解析52、標(biāo)準(zhǔn)答案:WITH知識(shí)點(diǎn)解析:暫無解析BEC商務(wù)英語(高級(jí))閱讀模擬試卷第2套一、概括文意配伍(本題共8題,每題1.0分,共8分。)Lookatthestatementsbelowandatthefiveextractsfromanarticleaboutinvestmentandacquisitions.Whicharticle(A,B,C,DorE)doeseachstatement1—8referto?Foreachstatement1—8,markoneletter(A,B.C,DorE)onyourAnswerSheet.Youwillneedtousesomeoftheselettersmorethanonce.Thereisanexampleatthebeginning,(0).AWhetheradirectinvestmentismadebyacquisitionorstart-updepends,ofcourse,onwhichcompaniesareavailableforpurchase.Thelargeprivatizationprogramsoccurringinmanypartsoftheworldhaveputhundredsofcompaniesonthemarket,andMNEshaveexploitedthisnewopportunitytoinvestabroad.Forexample,overhalfthevalueofFDI(Foreigndirectinvestment)inCentralandEasternEuropehascomefromprivatizationprograms.Therearemanyreasonsforseekingacquisitions.BOneconcernisthedifficultyoftransferringsomeresourcetoaforeignoperationoracquiringthatresourcelocallyforanewfacility.Oneresourcethatisparticularlydifficulttoacquireispersonnel,especiallyifthelocallabormarketistight.Insteadofpayinghighercompensationthancompetitorsdotoenticeemployeesawayfromtheiroldjobs,acompanycanbuyanexistingcompany,whichgivestothebuyernotonlylaborandmanagementbutalsoawholeorganizationalstructurethroughwhichthesepersonnelmayinteract.CThroughmarketingofmassconsumerproducts,especiallyifthecostandriskofbreakinginanewbrandarehigh.Further,acompanythatdependssubstantiallyonlocalfinancingratherthanonthetransferofcapitalmayfinditeasiertogainaccesstolocalcapitalthroughanacquisition.Localcapitalsuppliersmaybemorefamiliarwithanongoingoperationthanwiththeforeignenterprise.Inaddition,anexistingcompanysometimesmaybeacquiredthroughanexchangeofstock,thuscircumventinghome-countryexchangecontrols.DAcquisitionsmayreducecostsandrisksaswellasprovidequickerresults.Acompanymaybeabletobuyfacilities;particularlythoseofabankruptoperation,forlessthanitwouldcosttobuildthematcurrentconstructioncosts.Ifaninvestorfearsthatamarketdoesnotjustifyaddedcapacity,acquisitionenablesittoavoidtheriskofdepressedpricesandlowerunitsalesperproducer,whichmightresultfromnewfacilities.Finally,bybuyingacompany,aninvestoravoidsthehighexpensescausedbyinefficienciesduringthestart-upperiodandgetsanimmediatecashflowratherthantyingupfundsduringconstruction.EE.Althoughacquisitionsofferadvantages,apotentialinvestorwillnotnecessarilybeabletorealizethem.Foreigninvestmentsfrequentlyaremadewherethereislittleornocompetition,sofindingacompanytobuymaybedifficult.Inaddition,localgovernmentsmaypreventacquisitionsbecausetheyfearlesseningcompetitionormarketdominancebyforeignenterprises.Evenifacquisitionsareavailable,theyarelesslikelytosucceedthanstart-upoperations.Onefactoristhatthosecompaniesthatcanbeacquiredmightembodysubstantialproblemsfortheinvestor:personnelandlaborrelationsmaybebothpooranddifficulttochange.1、It’sdifficulttofindacompanytobuy.標(biāo)準(zhǔn)答案:E知識(shí)點(diǎn)解析:暫無解析2、Privatizationprogramsarequiteimportanttogainingthevalue.標(biāo)準(zhǔn)答案:B知識(shí)點(diǎn)解析:暫無解析3、Localgovernmentmaypreventacquisitionsbecauseoftworeasons.標(biāo)準(zhǔn)答案:E知識(shí)點(diǎn)解析:暫無解析4、It’sagoodmethodtobuyanexistingcompanytosolvetheproblemofpersonnel.標(biāo)準(zhǔn)答案:B知識(shí)點(diǎn)解析:暫無解析5、Acquisitionsmaymakeacompanygainalottothemarketingofmassconsumerproducts.標(biāo)準(zhǔn)答案:C知識(shí)點(diǎn)解析:暫無解析6、It’seasiertogainaccesstolocalthroughacquisitions.標(biāo)準(zhǔn)答案:C知識(shí)點(diǎn)解析:暫無解析7、Acquisitionshaveotherthreeadvantageslikereducingcosts,reducingrisksandprovidingquickerresults.標(biāo)準(zhǔn)答案:D知識(shí)點(diǎn)解析:暫無解析8、Buyingabankruptoperationcanmakeacompanypaylessthanitwouldcost.標(biāo)準(zhǔn)答案:D知識(shí)點(diǎn)解析:暫無解析二、段落完型(本題共6題,每題1.0分,共6分。)Readthistexttakenfromanarticleaboutlogisticsandcorporateprofitperformance.Choosethebestsentencetofilleachofthegaps.Foreachgap9—14,markoneletter(A—H)onyourAnswerSheet.Donotuseanylettermorethanonce.Thereisanexampleatthebeginning,(0).Inanuncertaineconomicenvironment,topmanagementwillbeinterestedinassetmanagementandflowmanagement.(0)______H.Theycanrepresentover50percentofmanufactures'totalasset,andmorethan80percentofwholesalers'andretailers'totalassets.Whentopmanagementmandatesareductioninaccountsreceivableand/orinventories,itsobjectiveistoimprovecashflowandreducethecompany'sinvestmentinassets.(9)______.Butreductioninthetermsofsale,orevenenforcementofthestatedtermsofsale,ineffectchangestilepricecomponentofthefirm'smarketingmix.(10)______Thearbitraryreductionofaccountsreceivableand/orinventoriesintheabsenceoftechnologicalchangeorchangesinthelogisticssystemcanhaveadevastatingimpactoncorporateprofitperformance.(11)______.First,thechangealtersthemanufacturer'spriceandthereforethecompetitivepositionofitsproducts,whichmayleadtodecreasedsales.Second,itfurthercomplicatesthecashflowproblemsofthemanufacturer'scustomers.Forcingfasterpaymentofinvoicescauseschannelmemberstoimprovetheircashflowbyreducingtheirinventoriesofthemanufacturer'sproducts.(12)______Thissituationmayalsoresultinstock-outofthemanufacturer'sproductsasthewholesaleorretaillevelofthechannel,furtherreducingsalesvolume.Similarly,amanufacturer'spolicyofarbitrarilyreducinginventoryleveltoincreaseinventorysums,intheabsenceofasystemchange,mayescalatetransportationcostsand/orproductionsetupcostsasthelogisticssystemscramblestoachievethespecifiedcustomerservicelevelswithlowerinventories(assumingthecompanywasefficientlyandeffectivelydistributingproductspriortothepolicychange).(13)______.Inthiscase,customerservicelevelswouldbeeroded,andadecreaseinmarketsharemightresult.(14)______.AHowever,ifmanagementconcentratesonsystemchangesthatimprovelogisticsefficiencyand/oreffectiveness,itmaybeabletosatisfyallofthefirm'sobjectives.BUsually,managementassumesthatrevenuesandothercostswillremainthesame.CTheydosobyplacingsmaller,morefrequentorders,whichmayincreasetotallogisticscostforboththemanufactureranditscustomers.DIneithersetofcircumstances,theincreasedcostoftransportationand/orproductionorthelostsalescontributioncouldfarexceedthesavingsininventoryc
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