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1、书山有路勤为径，学海无涯苦作舟。祝愿天下莘莘学子：学业有成，金榜题名！语言类考试复习资料大全剑桥商务英语高级真题6剑桥商务英语高级真题6READINGPART ONE Look at the statements below and at the five newspaper items about different companies on the opposite page. Which company (A, B, C, D or E) does each statement (1-8) refer to? For each statement (1-8), mark one lett
2、er (A, B, C, D or E) on your Answer Sheet. You will need to use some of these letters more than once. A. Angus Since coming to the market five years ago, Angus has enjoyed great respect, considerably more than its peers in construction and building materials. This has been well deserved, with its in
3、itial profits now four times as great. However, the companys recent warning that such growth is unlikely to be maintained has caused a levelling off in its share price. Investors apparently want to see evidence that the current expansion into North America is paying off and paying for the large work
4、force, before pushing Angus shares any higher. B. Johnsons Steven Green, chairman of the ailing furniture manufacturer Johnsons, has produced his long-awaited turnaround plan for the company, comprising aggressive cost savings targets and some optimistic-looking profit forecasts. Further reducing th
5、e cost of raw materials by 15% is perhaps over-ambitious, given the resistance to the 5% cut the company imposed last year. Remaining savings should be more easily achievable through improving manufacturing efficiency, including job cuts and plant closures. Should Johnsons miss those targets, includ
6、ing returning to an operating profit as early as next year, Greens job could rapidly be in danger. C. Hora Products Four years ago, the shares of Hora Products, the watches and handbags distributor and retailer, stood at 405p. At that time, Hora revealed profits up by a third to 22m, but warned that
7、 growth was unlikely to continue at such a pace. The shares immediately dropped 11% and kept on falling, until they hit a trough of 64p. Last year Hora decided to concentrate on its volume divisions, which include the Lagoon and Horato watch brands, and disposed of all its luxury marques, a strategy
8、 that will be watched with interest by its rivals. D. ForYou A 2% drop in UK like-for-like sales in the last 3 months has forced healthcare retailers ForYou to issue a profit warning, with a suggestion that earnings for the year are likely to be cut by 10-15%. Management has been accused of over-opt
9、imism in believing it could deliver 40% new product growth annually. The turmoil resulting from this strategy will increase stock-carrying costs by 3m, and has resulted in the resignation of the director responsible for product and marketing. The shares closed on Friday at 76p, down 29% in the past
10、year. E. D 答案:A2. This company has again revised its growth targets downwards.答案:E3. A problem experienced by this company has led to a change of personnel.答案:D4. Suppliers may refuse to charge this company less for their goods.答案:B5. A period of rapid growth immediately preceded a fall in this comp
11、anys share price.答案:C6. This companys reputation differs from that of its competitors.答案:A7. This company is planning to operate from fewer sites.答案:B8. A rise in the value of this companys shares appears to depend on the success of its present strategy.答案:APART TWO Read this article about managemen
12、t buyouts. Choose the best sentence from the opposite page to fill each of the gaps. For each gap (9-14), mark one letter (A-G) on your Answer Sheet. Do not use any letter more than once. How to launch a management buyout (MBO) The business youre running has huge potential but the parent company doe
13、snt seem interested, and there are rumours that they are looking to sell. If ever theres a time for you and your senior colleagues to mount a management buyout (that is, take over the company by purchasing its shares) its now. But the stakes are high: get it wrong and you could bankrupt yourself. Th
14、ats why its crucial to examine your motives carefully before doing anything. According to Mark Perchetti, private equity partner at MYT Accountants, one motive for launching an MBO is to build some capital. 1 And this list is far from exhaustive. Before doing anything else, check the feasibility of
15、a buyout. MBOs are invariably financed externally by borrowing money based on the companys share value (a leveraged buyout). Thats why you will need to adopt strategies to sharply increase profits, by cutting costs or expanding, for example. This should enable you to significantly boost the value of
16、 the shares a few years down the line. Approach the owners or parent company with your proposal and ask for permission before you disclose any confidential information to venture capitalists or banks. 2 And what you definitely dont want is to find yourself out of a job just yet! So, when should you
17、act? Well, it may be easier to raise the capital when business is booming, but paying over the odds is one of the biggest risks you face. 3 In other words, be careful not to pay too much. Also be careful who you choose for your team; this will typically consist of a CEO and 3-4 directors, but larger
18、 deals may bring in lower tiers. Theres no room for sentiment. You may have someone who was fine as the accountant of an operating division, but who you then find is not up to being MD of an independent company. 4 To avoid this problem you should therefore consider bringing in external talent right
19、from the start. Its best to keep a low profile until your MBO is pretty much signed and sealed. 5 This might also mean that your customers, employees and other stakeholders become nervous, especially if theres a prolonged period of uncertainty. If there are key customers or suppliers whose ongoing c
20、ommitment you require, wait until the last minute to talk to them. And remember, if your MBO fails, for whatever reason, you may find yourself working with the same colleagues and the current owners of the business. 6 So dont burn your bridges just yet! A. Other common reasons are where the business
21、 has become non-core to its parent, or where a private owner of a family business is retiring. B. If you are unfortunate enough to have to do this, they wont thank you if you have criticised their abilities or commitment. C. If you buy at the peak of the market, you may find it difficult ever to mak
22、e money. D. Financiers want you to put in enough that it would hurt you if you lost it, but not so much that youd be constantly worrying about it. E. If your financiers come to the same conclusion, you may lose credibility. F. If your interest becomes more widely known, you risk starting an auction,
23、 in which case the price will go up. G. Otherwise you risk being turned down at a later stage-and getting your marching orders. 1.答案:A2.答案:G3.答案:C4.答案:E5.答案:F6.答案:BPART THREE Read the following article about the problems small companies may have in recruiting staff, and the questions on the opposite
24、 page. For each question (15-20), mark one letter (A, B, C or D) on your Answer Sheet. Small companies often struggle in a crucial area-the recruitment of additional staff. With little time or budget for recruitment and training, mistakes are made all too easily. Last year, Sally Thomas, managing di
25、rector of a small software company, thought she had found the ideal project co-ordinator to handle long-term client relationships, after a two-year search. We had already tried a couple of internal people, but they were not suited to the role, she says. The role does not require a detailed knowledge
26、 of information technology, but does demand enough expertise to understand current and future projects and the ability to talk about them meaningfully and sensitively to customers. Ms Thomas and her technical director gave several short-listed candidates in-depth interviews and psychometric tests. T
27、hey then decided to follow their instinct and pick the individual who had performed least well in the tests but felt like the right person for the job. The new project co-ordinator lasted just six weeks. It was very disappointing, says Ms Thomas. In the end the psychometric test proved to be more ac
28、curate than our own belief in who was best. Luckily the candidate who scored most highly in the tests was still available and is now doing well in the job. Tony Jones used personal contacts when setting up his electronic repair services company, recruiting four people he already knew for the top man
29、agement team. This worked well, but on technical staff he has been less successful, with a 50% drop-out rate in just four months. Its easy to make snap judgements because youre so busy running the business, Mr Jones says. Instead of a thorough testing process you tend to do it too fast. Someone seem
30、s like a nice person who knows what theyre doing, so you give them the job but eventually you come to regret your decision. Mr Jones has tried employment agencies, but finds them expensive and lacking in knowledge of sectors such as electronics. Finding electronic engineers is not like looking for b
31、ankers for example, he says. The fight people for us tend to have been stuck in the bedroom with a soldering iron in their youth, rather than having done particularly well academically. We could be talking about the dark side of the moon as far as most agencies are concerned. Recruitment from outsid
32、e is a huge problem for small companies, but according to Louise Punter, chief executive of the Surrey Chamber of Commerce, People who have moved from other firms bring a fresh look and a big injection of new ideas. Those who have worked for medium-sized or large companies are particularly valuable,
33、 because they are familiar with processes and systems that can be just as effective in a company of ten people as in a company of thousands. Small companies tend to deal only with the immediate problem, whereas a larger organisation would put in place a process that would prevent the same thing goin
34、g wrong again. People who know how to do this can be very valuable. On the other hand, given the current skills shortage, low unemployment and the expense involved in recruitment, it makes sense to promote from within where possible. A classic mistake is that companies overlook the skills their exis
35、ting staff have; for example, a marketing person might have good financial skills, says Mrs Punter. She recommends conducting a skills audit to identify staff expertise, in particular what is transferable or not being fully exploited. In larger companies, these issues often come out in appraisals, b
36、ut in small ones they are easily missed. Not surprisingly, finding the right staff can present small companies with their biggest challenge. 1. Appointing a new project co-ordinator made Sally Thomas realise thatA.she had misjudged the value of different methods of selection.B.few people had the rig
37、ht combination of qualities for the job.C.she had underestimated the time required to choose the best candidate.D.internal promotion was unlikely to lead to a successful appointment.答案:A2. In the third paragraph, what point does Tony Jones make?A.Different jobs require candidates to have different q
38、ualities.B.The demands of running a business ought to take priority over interviewing.C.The most effective method of selection is personal contact.D.A mistake in the choice of candidate can have a long-term effect.答案:D3. What criticism does Tony Jones make of agencies?A.They do not hold enough discu
39、ssions with employers.B.They fail to focus on the appropriate skills.C.They underestimate the demand for electronic engineers.D.They do not react quickly enough to technical developments.答案:B4. According to Louise Punter, it is useful for small companies to recruit people whoA.understand the problem
40、s of small businesses.B.have experience of similar-sized organisations.C.can apply knowledge gained elsewhere.D.have designed systems in their previous job.答案:C5. In the sixth paragraph, what point does Louise Punter make about small companies?A.They are not likely to be able to afford to recruit st
41、aff with the right skills.B.They lack the necessary skills for carrying out staff appraisals.C.They may not be aware of some of the skills of their employees.D.They depend too heavily on staff developing appropriate marketing skills.答案:C6. Which of the following is the writers main point in the arti
42、cle as a whole?A.Finding the right people is crucial for small companies.B.Many of the selection tools used by large companies are unsuitable for small companies.C.Recruitment experts should provide a better service for small companies.D.Small companies need to reduce the cost of recruiting new staf
43、f.答案:APART FOUR Read the extract below from a banks advice to businesses about finding and keeping customers. Choose the correct word to fill each gap from A, B, C or D on the opposite page. For each question (21-30), mark one letter (A, B, C or D) on your Answer Sheet. Finding and keeping customers
44、 Customers and buyers are the lifeblood of any business. The constant challenge is to first find your customers and then sell to them. For businesses which are just starting up, marketing professionals suggest working out a SWOT analysis-a systematic review of your Strengths, Weaknesses, Opportuniti
45、es and Threats-to clarify your business thinking and 1 realistic sales targets. Once youve gained customers its important to remember that they can 2 or break your business. After all, if you give excellent service, they will freely advertise your company to colleagues and friends, giving you a comp
46、etitive 3 over your rivals. When youre planning to pay for advertising, business directories, local newspapers and the internet can be very cost-effective. Trade exhibitions can also 4 you to a wide range of useful contacts and lucrative new markets. You may also be able to 5 company news into free
47、PR by sending press 6 to magazines and newspapers. But editors have very 7 space, so your story must be unusually interesting and entertaining to 8 in print. At JS Bank we specialise in helping new businesses 9 off to a promising start. We can help you develop your business, and our free book How to 10 your business potential is a detailed, practical guide to advertising, endorsed by the Institute of Direct Marketing. Contact your local JS Bank for a copy. 1.A.formB.placeC.setD.shape答案:C2