1、BEC商务英语（中级）阅读模拟试卷 119及答案与解析 一、 PART ONE 0 Look at the statements below and the advice on handling acquisitions on the opposite page. Which section(A, B, C or D)does each statement(1-7)refer to? For each statement(1-7), mark one letter(A, B, C or D)on your Answer Sheet. You will need to use some of t
2、hese letters more than once. Mergers and Acquisitions As Finance Director of plastics manufacturer VKT, Yvonne Maynart has overseen many successful takeovers A It is essential to build up a team to handle the acquisition so that your existing business can continue uninterrupted during the deal. It a
3、lso helps to operate with spare capacity so that you can transfer people during the initial stages. A key person should be driving the acquisition process forward, although one person alone cannot assume responsibility for a large deal. It is clearly vital to do thorough research when identifying po
4、tential targets - but do not be afraid to walk away from a deal if you become aware of serious difficulties with a company you are targeting. B To decide on the value of any target business, you must first determine what contribution your acquisition can make to it. For example, you may be able to i
5、ncrease revenue through a more focused management team, or improve margins through greater purchasing power and lower costs. At VKT, we base our valuations on conservative assumptions - we also add in the risk element. This approach may be best, and its worth remembering that with listed companies,
6、shareholders tend to have higher risk/reward expectations. C Developing relationships with finance providers is a key part of the finance directors role. It is important to draw up a good business plan to ensure backing from lenders in the early stages of the acquisition. Your loan application needs
7、 to be supported by detailed profit and cashflow projections. Make sure you factor in sufficient finance to let the business develop over time, and allow for reinvestment. Here at VKT, we usually finance acquisitions with bank debt in the form of a 364-day loan, which can then be refinanced at a low
8、er interest rate later. D If an acquisition is large, it can take years for companies to integrate. At VKT, we monitor all acquisitions closely for at least two years, and the most important lesson Ive learned is that a deal is only good if it is beneficial for both vendor and acquirer. Change cause
9、s confusion, so it needs to be handled carefully. In order to protect profits and grow the business, you need to minimise the impact of change and help the people affected feel comfortable about it. When this is done properly, it can really boost morale. 1 A cautious approach can be used when calcul
10、ating what a company is worth. 2 Consider personnel issues so that you have sufficient resources to fulfill your objectives. 3 In order to know if you can make a return on your investment, assess how you can add to the company you are buying. 4 Providing sufficient support for staff during the acqui
11、sition process can have a favourable outcome. 5 Take into account your long-term requirements to ensure you have the resources you need. 6 Even after investing some effort in the acquisition, it may still be necessary to withdraw. 7 Terms initially negotiated can be changed after the acquisition. 二、
12、 PART TWO 7 Read the article below about the role of executive recruitment agencies. Choose the best sentence from the opposite page to fill each of the gaps. For each gap(8-12), mark one letter(A-G)on your Answer Sheet. Do not use any letter more than once. There is an example at the beginning(0).
13、Issues in the recruitment world In the competitive world of investment banking, good senior executives are not easy to find. So what should the industrys hard-pressed directors do when they need to find senior staff? Increasingly, they decide to call in the headhunters. These are busy and profitable
14、 times for the recruitment agencies that dominate the world of executive search and selection. (0)_G_. They needed new people to revitalise their operations, and the result has been a boom in the recruitment market. Pinnacle, a leading recruitment agency, has helped various UK investment banks to re
15、build their entire senior management teams. It is hard to overstate the significance of this.(8)_ But now everything has changed, and Pinnacle is not the only major player in the field. Some analysts believe that rival recruitment specialists ALT Associates has a larger share of the market. However,
16、 there is little doubt that over its 13-year history, Pinnacle and its chairman, Matthew Edwards, have built up an impressive reputation. Edwards estimates that his company controls between 10 and 15 percent of the headhunting market for senior investment banking jobs in the UK.(9)_Rather, it is the
17、 high-calibre jobs and people that Pinnacle deals with that define the companys success. For example, the company was recently commissioned to find a new chairman for NBS Bank, a vacancy that was one of the most talked about in the banking world. Most HR directors recognise that headhunters such as
18、Pinnacle play a valuable role in the recruitment process. (10)_Some are concerned that a few companies, including Pinnacle, have too much power over high-level recruitment. (11)_As Tim Davidson, HR Director at Cawfield Bank, explains, They can be kingmakers. These are the people who decide who gets
19、a future and who doesnt. If Edwards forms a view about an individual, it can affect their ability to get a particular job. That view could just have been formed on a bad day.(12)_ Final decisions in the selection process are always taken by his clients, he says, whoever they are. The role of headhun
20、ters should not be exaggerated. Many companies never use them. But as top executives are hard to find, there will always be a role for people like Matthew Edwards. A Although others may put it lower, it is important to remember that the companys reputation is not based on market share alone. B Their
21、 chief worry is that the headhunters can now make or break managerial careers. C According to Edwards, this is a further indication that the way Pinnacle searches for a candidate tends to favour a certain type of manager. D But this acceptance does not mean they are universally happy, either with th
22、e state of the market or with Pinnacles role within it. E Until a few years ago, even the biggest companies were unlikely to use headhunters to fill more than one or two jobs a year. F Edwards objects to this suggestion, claiming that all he does is find candidates and encourage them to apply for a
23、particular post. G A number of big investment banks recently decided to make changes to their management boards after disappointing end-of-year results. 三、 PART THREE 12 Read the article below about a technology company and the questions on the opposite page. For each question(13-18), mark one lette
24、r(A, B, C or D)on your Answer Sheet. Critical Path When David Hayden realised his company was heading for trouble, he took drastic measures to get it back on track David Hayden founded his company, Critical Path, an email provider, in 1997 to take advantage of the boom in email traffic. Critical Pat
25、h became a public company two years later, and Hayden took the opportunity to step down from his executive position in order to work on personal projects. At the same time, he agreed to stay with the company as Chairman, but the business was put in the hands of new managers by its investors. With se
26、ctor-leading products and an expanding market, the company seemed to be on the up and up. However, by early 2001, it was in trouble. Shares that had been worth $26 in 1999, when they were first sold, were down to a mere 24 cents. Called in by a panicking board, Hayden found himself back in charge as
27、 Executive Chairman, trying desperately to rescue what he could. The 1,100 staff had lost confidence in the company and did not know what was going to happen to them. And, as Hayden discovered, the management team was incompetent. Those guys didnt understand the product or the sector, says Hayden. T
28、he heads of department didnt communicate and they didnt lead. But what was worse, Critical Path had lost the goodwill of its investors. Hayden knew that bringing the figures under control would be a vital step in the companys turnaround. Youve got to sort out the finances. For me, that meant getting
29、 back the goodwill of the investors. That was tough, after what had happened. But although they were angry with the company, they didnt have bad feelings about me. I told them that I knew I could get the company on its feet again. He was authorised to make whatever changes were required, and his fir
30、st act was to find people within the company he could trust and put them in charge. The next thing Hayden had to tackle was morale. Everyone left the office at five on the dot - they couldnt get away quickly enough. To get the buzz back and win the staff over, I had to prove my own commitment and pu
31、t in the extra hours with them. In return, it was assumed that nobody would ask for overtime pay until the company was on its feet again. Contrary to normal practice, Hayden was reluctant to lay people off, and apart from not replacing people as they reached retirement age, he left the workforce lar
32、gely unchanged, although he did identify key people throughout the company who were given more responsibility. But, as Hayden insists, before a company reaches such a crisis, there are warning signs that any financial director or accountant should take note of. A business that has an unrealistic pri
33、cing policy or has to negotiate extended credit with its suppliers is in trouble, is his message. Or if you often have to apply for your overdraft limit to be raised or have trouble paying tax on time, something needs to be done. By 2003, the company was healthy again, with reasonably stable finance
34、s and a modest but steady share price of $1.60. One thing that helped save us was that our technology worked, says Hayden. With 20 million email accounts, we never lost a single major client because the product kept on working. With ideas for a fresh venture demanding his attention elsewhere, Hayden
35、 has moved on. It was time to go, he says. Im not a turnaround specialist. I prefer start-ups. 13 What event coincided with Critical Path becoming a public company? （ A） Hayden became the Executive Director of Critical Path. （ B） Investors hired a replacement team to run Critical Path. （ C） Critical
36、 Path launched a successful new product on the market. （ D） Critical Path was floated on the Stock Exchange at 24 cents per share. 14 Which of the following situations did Hayden face at Critical Path in 2001? （ A） The employees were worried about job security. （ B） The investors were calling for ch
37、anges to the company structure. （ C） The management was misleading the staff about the companys position. （ D） The board of directors did not realise the scale of the companys problems. 15 One reason Hayden was able to turn Critical Path around was that （ A） he managed to find new investors. （ B） th
38、e financial situation was not as bad as he had thought. （ C） he had built up a good relationship with the management team. （ D） he was given the support that he needed. 16 What was Haydens policy regarding the staff of Critical Path? （ A） He paid overtime to everybody who worked outside office hours
39、. （ B） He reduced the workforce by operating an early retirement scheme. （ C） He gave key staff the opportunity to help him set goals for the company. （ D） He restored motivation by showing willingness to work alongside staff. 17 According to Hayden, what could indicate that a business is in trouble
40、? （ A） problems keeping accounts up to date （ B） suppliers refusing to offer new credit terms （ C） a frequent need to increase the amount borrowed （ D） difficulties in getting payment from customers on time 18 Hayden left Critical Path after he had rescued the company because （ A） he wanted to devel
41、op the technology for a new internet service. （ B） he wanted to concentrate on founding a new enterprise. （ C） he had been offered a job with a major internet company. （ D） he decided to go into partnership with a major client. 四、 PART FOUR 18 Read the article below about doing business online. Choo
42、se the best word or phrase to fill each gap from A, B, C or D on the opposite page. For each question(19-33), mark one letter(A, B, C or D)on your Answer Sheet. There is an example at the beginning(0). The Secret of Success for Online Businesses The secret of success in electronic commerce(0)_B_in p
43、lacing a new emphasis on a well-established area. That area is customer service, which is now the only point of(19)_between a business and the buying public. There are a number of factors in a real-world shop that(20)_peoples perceptions of a business: these(21)_the location and the appearance of th
44、e premises, the quality and the pricing of the merchandise or services, and the behaviour of the staff. However, if a company is trying to make a good impression with online customers, most of these factors do not(22)_a part. In the(23)_of these factors, the way customers are(24)_when they have a re
45、ason to call has a fundamental effect on a companys ability to retain them as customers. Even more than regular telephone or in-person customers, web customers are impatient, easily frustrated and always conscious that they have other places where they can(25)_their business. Preventing them from do
46、ing that means meeting them on their own(26)_and providing them with what they want. This necessity, in(27)_, means that companies that sell over the net must get back-end functions right. Imposing(28)_requirements on customers will not work; a business that(29)_on customers emailing for assistance
47、instead of using the phone, for example, will lose repeat custom. If the phone is used, it must be answered(30)_, and the staff should look for ways of helping even the most awkward customers(31)_, as is more usual, trying to find some(32)_to blame the customer for any problem. An important, final p
48、oint is that it is vital that all addresses, web links and phone numbers work properly and efficiently. This ought to(33)_without saying. Experience, however, shows that it does not. （ A） relationship （ B） association （ C） meeting （ D） contact （ A） force （ B） determine （ C） decide （ D） fix （ A） encl
49、ose （ B） consist （ C） include （ D） contain （ A） get （ B） run （ C） play （ D） have （ A） absence （ B） lack （ C） need （ D） scarcity （ A） cared （ B） treated （ C） dealt （ D） considered （ A） deliver （ B） bring （ C） move （ D） take （ A） policies （ B） standards （ C） terms （ D） conditions （ A） turn （ B） sequence （ C） line （ D） order （ A） dense （ B） rigid （ C） deep （ D） solid （ A） demands （ B） insists （ C） expects （ D） instructs （ A） punctually （ B） precis
