1、BEC商务英语（高级）阅读模拟试卷 99及答案与解析 一、 PART ONE 0 Look at the statements below and at the five extracts from an article about investment and acquisitions.Which article(A, B, C, D or E)does each statement 1 8 refer to?For each statement 1 8, mark one letter(A, B. C, D or E)on your Answer Sheet.You will need t
2、o use some of these letters more than once.There is an example at the beginning, (0).AWhether a direct investment is made by acquisition or start-up depends, of course, on which companies are available for purchase. The large privatization programs occurring in many parts of the world have put hundr
3、eds of companies on the market, and MNEs have exploited this new opportunity to invest abroad. For example, over half the value of FDI(Foreign direct investment)in Central and Eastern Europe has come from privatization programs. There are many reasons for seeking acquisitions.BOne concern is the dif
4、ficulty of transferring some resource to a foreign operation or acquiring that resource locally for a new facility. One resource that is particularly difficult to acquire is personnel, especially if the local labor market is tight. Instead of paying higher compensation than competitors do to entice
5、employees away from their old jobs, a company can buy an existing company, which gives to the buyer not only labor and management but also a whole organizational structure through which these personnel may interact.CThrough marketing of mass consumer products, especially if the cost and risk of brea
6、king in a new brand are high. Further, a company that depends substantially on local financing rather than on the transfer of capital may find it easier to gain access to local capital through an acquisition. Local capital suppliers may be more familiar with an ongoing operation than with the foreig
7、n enterprise. In addition, an existing company sometimes may be acquired through an exchange of stock, thus circumventing home-country exchange controls.DAcquisitions may reduce costs and risks as well as provide quicker results. A company may be able to buy facilities; particularly those of a bankr
8、upt operation, for less than it would cost to build them at current construction costs. If an investor fears that a market does not justify added capacity, acquisition enables it to avoid the risk of depressed prices and lower unit sales per producer, which might result from new facilities. Finally,
9、 by buying a company, an investor avoids the high expenses caused by inefficiencies during the start-up period and gets an immediate cash flow rather than tying up funds during construction.EE. Although acquisitions offer advantages, a potential investor will not necessarily be able to realize them.
10、 Foreign investments frequently are made where there is little or no competition, so finding a company to buy may be difficult. In addition, local governments may prevent acquisitions because they fear lessening competition or market dominance by foreign enterprises. Even if acquisitions are availab
11、le, they are less likely to succeed than start-up operations. One factor is that those companies that can be acquired might embody substantial problems for the investor: personnel and labor relations may be both poor and difficult to change. 1 Its difficult to find a company to buy. 2 Privatization
12、programs are quite important to gaining the value. 3 Local government may prevent acquisitions because of two reasons. 4 Its a good method to buy an existing company to solve the problem of personnel. 5 Acquisitions may make a company gain a lot to the marketing of mass consumer products. 6 Its easi
13、er to gain access to local through acquisitions. 7 Acquisitions have other three advantages like reducing costs, reducing risks and providing quicker results. 8 Buying a bankrupt operation can make a company pay less than it would cost. 二、 PART TWO 8 Read this text taken from an article about logist
14、ics and corporate profit performance.Choose the best sentence to fill each of the gaps.For each gap 9 14, mark one letter(A H)on your Answer Sheet.Do not use any letter more than once.There is an example at the beginning, (0).In an uncertain economic environment, top management will be interested in
15、 asset management and flow management.(0)_H . They can represent over 50 percent of manufactures total asset, and more than 80 percent of wholesalers and retailers total assets.When top management mandates a reduction in accounts receivable and/or inventories, its objective is to improve cash flow a
16、nd reduce the companys investment in assets.(9)_. But reduction in the terms of sale, or even enforcement of the stated terms of sale, in effect changes tile price component of the firms marketing mix.(10)_The arbitrary reduction of accounts receivable and/or inventories in the absence of technologi
17、cal change or changes in the logistics system can have a devastating impact on corporate profit performance.(11)_. First, the change alters the manufacturers price and therefore the competitive position of its products, which may lead to decreased sales. Second, it further complicates the cash flow
18、problems of the manufacturers customers. Forcing faster payment of invoices causes channel members to improve their cash flow by reducing their inventories of the manufacturers products.(12)_ This situation may also result in stock-out of the manufacturers products as the wholesale or retail level o
19、f the channel, further reducing sales volume.Similarly, a manufacturers policy of arbitrarily reducing inventory level to increase inventory sums, in the absence of a system change, may escalate transportation costs and/or production setup costs as the logistics system scrambles to achieve the speci
20、fied customer service levels with lower inventories(assuming the company was efficiently and effectively distributing products prior to the policy change).(13)_. In this case, customer service levels would be eroded, and a decrease in market share might result.(14)_.A However, if management concentr
21、ates on system changes that improve logistics efficiency and/or effectiveness, it may be able to satisfy all of the firms objectives.B Usually, management assumes that revenues and other costs will remain the same.C They do so by placing smaller, more frequent orders, which may increase total logist
22、ics cost for both the manufacturer and its customers.D In either set of circumstances, the increased cost of transportation and/or production or the lost sales contribution could far exceed the savings in inventory carrying cost.E If a manufacturer changes its terms of sale, for example, the effect
23、on wholesalers and retailers will be twofold.F In addition, simply reducing the level of inventory can significantly increase the cost of logistics if current inventories have been set at a level that allows the firm to achieve least total cost logistics for a desired level of customer service.G Alt
24、ernatively, pressure to reduce expenses may preclude the use of premium transportation or increased production setups to achieve the desired customer service levels with smaller inventory.H The two most common strategies used to improve cash flow and return on assets are:(l)reducing accounts receiva
25、ble and(2)reducing the investment in inventory, as inventories and accounts receivable are a major portion of corporate assets. 三、 PART THREE 14 Read the following extract from an article about leadership in companies management, and the questions followed. For each question 15 20. mark one letter(A
26、, B, C, or D)on your Answer Sheet for the answer you choose. It has been said that management is a science and that leadership is an art. Management is comprised of concrete, measurable skills: planning, organizing, directing, and controlling. Thumb through any management textbook and youll see spec
27、ific models, formulas, procedures, or techniques for monitoring and controlling performance output. Controlling productivity through adherence to standards is the stock-in-trade of the effective manager. Its not always an easy task, and talented managers should be given the credit they deserve in he
28、lping their organizations succeed. No organization can survive for very long, let alone earn any sort of substantial profits, without sound management. But management alone is not enough in todays marketplace. It is the right balance, a combination of efficient management and leadership that every o
29、rganization is seeking. Just what is the new model of leadership for the 21st century? It revolves around five abstract qualities. Managers may possess some or all of these abilities to one degree or another, but these skills are distinct from the particular qualities that define management. To bett
30、er understand how leadership and management differ, lets review the five leadership competencies. Self-mastery is the foundation upon which a leaders credibility is built and from which a leaders image will evolve. Self-mastery involves awareness, acknowledgment, and acceptance. Its about discoverin
31、g the qualities that make you special and unique. Its about your own talents and abilities-your personal areas of excellence. Effective leaders create opportunities to showcase their natural abilities. They uncover their potential talents by continually stretching themselves and pushing themselves t
32、o their limits. At the same time, however, the successful leader acknowledges his or her limitations. To achieve true self-mastery you must accept yourself, including your faults, totally and unconditionally. Vision is in many ways the heart and soul of leadership. While the manager must deal with i
33、ssues and produce results on a day-to-day basis, a leader must focus on both the present and the future. The managers concern is todayi the leader has a vision for tomorrow. But simply having a vision is not enoughs you must make others believe in it, too. Put your plans for the future before the ey
34、es and ears of the people around you. When other people begin to buy into your vision and make it their own, good things start to happen and happen quickly. Leaders turn their vision into reality by constantly letting others know whats in it for them. “Personal power“ is the ability to influence and
35、 persuade others. It is not to be confused with “position power“. Position power is embedded in hierarchical, organizational structure. Personal power is earned. You do not necessarily need to have direct authority over others to display personal power. In fact, in the most successful companies, lea
36、dership exists at all levels. Develop personal power by being dependable, following through on commitments, and demonstrating concern for the welfare of others. People will recognize your personal power and look to you for direction. Empowerment completes the set of leadership skills. Although it ha
37、s become a buzz word in the 90s, leaders have been aware of the concept of empowerment throughout the ages. Empowerment is the process by which a leader enables other individuals to successfully complete a certain job or task. It is a technique that allows you to delegate responsibility for tasks th
38、roughout your organization, even at the lowest levels. As a leader, it is in your interest to nurture and develop individuals who will one day take your place, so make empowerment a top priority. Empowerment involves three critical ingredients: skills, confidence, and authority. Evaluate your follow
39、ers skills and provide training to improve or enhance their abilities. Instill confidence in others and raise their self-esteem by maintaining face-to-face contact and offering praise for a job well done. Furthermore, bestow authority onto other people, giving them the right to exercise their best p
40、ersonal judgment. True leaders are always willing to give credit to others and accept responsibility for failure, while simultaneously supporting, encouraging, and empowering their followers. If you do so, you will develop an unshakable trust bond with others in your organization, establishing your
41、own credibility while ensuring results. No one can deny the importance of good management in a successful organization. But good management alone is no longer enough. Recognizing the difference between management and leadership, and striking the correct balance between the two, will provide substant
42、ial dividends in the long run. Management will get you through todayi leadership will ensure a better tomorrow. 15 The passage is mainly about_. （ A） management skills （ B） leadership principles （ C） the qualities that define management （ D） the distinction between management and leadership 16 What
43、is the most significant factor of leadership according to the passage? （ A） Personal Power. （ B） Self-mastery. （ C） Vision. （ D） Empowerment. 17 In the first paragraph, “stock-in-trade“ means_. （ A） quality （ B） usual tactics （ C） credibility （ D） responsibility 18 According to the four leadership c
44、ompetencies, which of the following is not the skill of a leader? （ A） Dealing with daily issues and producing results. （ B） Recognizing the talents of others and giving them the knowledge and the tools they need to succeed. （ C） Nurturing and developing successors. （ D） Making macro-plans and ensur
45、ing results. 19 In the sixth paragraph, when talking about empowerment, the writer means that （ A） it is the most significant element in a hierarchical organization. （ B） confidence in oneself contributes a lot to ones business experience. （ C） leaders should encourage competent subordinates to enha
46、nce their confidence and power. （ D） a good leader is good at controlling so as to establish his credit in the organization. 20 From this passage, we learn that_. （ A） leadership is more important than management （ B） a good manager must have leadership competencies （ C） leading and managing involve
47、 distinctly different sets of skills （ D） people with exceptional leadership qualities are usually undeveloped 四、 PART FOUR 20 Read the article below about the role of management of workers union, and the questions.Choose the correct word or phrase to fill each gap from A, B, C, or D.For each questi
48、on 21 30, mark one letter(A, B, C, or D)on your Answer Sheet.There is an example at the beginning, (0). THE ROLE OF UNION MAMAGEMENTResearch has shown that union(0)A campaigns are often associated with significant declines in the profitability of firms. Therefore, most organizations prepare some typ
49、es of campaign to(21)_a unions move to organize workers. It is important to know that the NLRB forbids management actions to suppress the union and to(22)_employees considering unionization.These are considered unfair management(23)_Normally, the Human Resource department is(24)_ for presenting managements side of the story. Outside consultants or antiunion experts (25)_in preventing organizing often are used. One popular management approach is to emphasize that a union is run by ou
