[外语类试卷]BEC商务英语(中级)阅读模拟试卷119及答案与解析.doc
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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
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