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Test3
PARTONE
Questions1-7
Lookatthestatementsbelowandtheadviceoffour
marketanalystsaboutacompany'sfuturestrategyon
theoppositepage.
Whichanalystsadvice(A,B,CorD)doeseach
statement!"?referto?
Foreachstatement1-7,markoneletter(A,B,CorD)
onyouranswersheet.
Youwillneedtousesomeoftheselettersmorethan
once.
Example:
0ItwouldbeinadvisableforDextertoextenditsrangeofproductsatthistime.
0ABCD
1[
i
ThekindofpromotionDexterhasreliedonsofaris
unlikelytoinfluenceitstarget
customers.
2AlthoughDextercanprobablyextenditsrange,
findingenoughcapitalwillbedifficult.
3Dexterneedstothinkcarefullyaboutthebrand
imageofitsproducts.
4SupplyingnicheretailerscouldgiveDexteraccess
toanewgroupofcustomers.
5Dextershouldconsiderworkingwithacompany
experiencedinadvertisingonalarge
scale.
6Increasingthemarginonthecurrentrangeisan
areaDextershouldconcentrateon.
2
7Dexter'sapproachtodoingbusinesshasenabledit
tocompetewithlargercompanies.
WhatnextforDexter?
Dexter'snewshavingcreamisahitintheUK.The
company'snextchallengesaretobranchoutintonew
productsandtosucceedinAmerica.Fourtopanalysts
givetheiradvice.
AJoeHutchinson
ForDexterthehardestpartisyettocome.Many
BritishcompaniesfallintheU.S.andDexteris,
unsurprisingly,findingittough.Andwhafsthe
senseinseekingcashforexpansionintonew
productareaswhilehavingtosupportaloss-making
Americanoperation?Therearemoreimportant
thingstodowiththemoney,forexampledealingwith
3
thecompany'slowprofitability-a2%returnonsales.
Itmightwellbetimetolookatafewcostheadings.
BDanValero
Breakingoutoftheshavingcreammarketshouldnot
beimpossibleforDexter,butraisingthemoneyto
launchtheproductsistherealchallenge.Dexter
mightseekapartnerwiththepromotionalskills
neededformassmarketing,orfocusonproduct
developmentandfranchising.Theyoughtto
considerwhethertheyshouldcontinuetoattackthe
Americanmarket,and,ifso,theyshouldseekalocal
partner.Ifcontrolisapriority,theEuropeanmarket
maybeworthalookinstead.
CJamesSunderland
4
Dexter'sentrepreneurship,whichhashelpeditgeta
shareofmarketpreviouslydominatedbytwo
players,willbethekeytofurthergrowth.The
Americanmarketisparticularlychallenging,buta
possiblestrategyistotargetdistributorsto
AmericanretailersoraBritish-basedsubsidiaryof
anAmericanparent.Anotherapproachmaybeto
formallianceswithlike-mindedcultfashionorsports
outletsandattractasliceoftheU.S.marketopento
tryingnewproducts.
DMelanieLeconte
Dexterintendstoincreaseitsmarketshare,andone
wayofdoingthisistointroducenewproducts,
perhapsaimedatwomen,intoitsexistingrange.
However,itsmanagersmustbeaware,thatthe
women'sgroomingmarketiscrowed,andthatto
extendheretheymustremainloyaltothevaluesof
5
theirexistingrangewhilestillgroovingattractiveto
thenewsector.Theyneedtotakeahardlookathow
togeneratedemand;sofarifsworkedwellthrough
wordofmouthbuttheaverageAmericanbuyer
expectsahugeadvertisingcampaign.
PARTTWO
Questions8-12
Readthearticlebelowaboutdevelopmentsatabank.
Choosethebestsentencefromtheoppositepageto
filleachofthegaps.
Foreachgap8-12,markoneletter(A-G)onyour
AnswerSheet.
Donotuseanylettermorethanonce.
Thereisanexampleatthebeginning,(0).
ThePan-SlavicTradingBank
6
Miroslavhascomea
WhenMiroslavNovak
longwayfromhis
startedworkasa
modestbeginnings.
graduatetrainee,his
Recentlyappointed
employer,thePan-Slavic
directorofthebranch
TradingBank(P-STB),
network,henowsitson
wasastate-ownedbank
theexecutiveboard.
specializinginexport
(8)Ofparticular
trade.Thoughtonlythe
concernisthefactthat
country'sfourthbankin
theP-STBhasbecomea
sizeandturnover,itwas
retailbank,nolonger
wellrunandhada
dealingexclusivelywith
proventrackrecord.
largecompanies.This
(0).?.GDespiteits
sectorhas,infact,been
inclusioninthe
downgradedto
governments
secondarystatus,since
programmeof
themostimportant
privatization,expansion
marketisseentobe
ormajorchangewere
elsewhere.
notontheagenda.
Thenewemphasisison
Today,tenyearson,
7
offeringawiderangeofmonitoringtheprogress
productstothegeneraloftheP-STBasitmoved
public.(9)When,towardsprivatization.
thispolicywasfirstput(10)Afterlengthy
forward,Miroslavandnegotiations,including
hiscolleaguesdoubtedwithgovernment
itsfeasibility.Sinceitdepartments,the
wasnotpartoftheirLuxembourgbankwas
plans,however,andassuccessfulandbecame
successfollowedthemajorityshareholder.
success,theirdoubtingTheP-STBnowfound
employeewereforcedtoitselfthesubsidiaryofa
admittohavingbeenforeignbank.
mistaken.
Notimewaswastedin
Thesourceoftheflyinginateamof
P?STB'schangeofmanagersfromthe
directionwastobeparentcompany.No
foundabroad;thesoonerhadtheyarrived
directorsofabankfromthanmajorchanges
Luxembourghadbeenbegantobe
8
implemented.(11)optimisticabout.
Thiswasexcitingand(12)Miroslavgrew
challenging,buttheretoenjoythedemands
wasahighpricetopay.madeonhim,andbefore
Theaverageworkingdaylongwaspromotedto
increasedfromeighttohispresentposition,
twelvehoursalmostwithresponsibilityfor
immediately,andseveralconvertingallhe
ofthelonger-servingbranchesinthenetwork
staffweregivenearlytoretailbanking.He
retirement.Thosewhospendslesstimethanhe
remainedfeltextremelywouldlikewithhis
uncomfortableaboutthefamily,andstillmisses
contrastintheirformercolleagues,but
fortunes.theworkitselfismore
satisfyingthanhecould
everhaveimagined.
Thenextfewmonths
undernewownership
wereextremely
demandingandMiroslav
foundlittletobe
9
Example:
ABCDEFG
0[=)1=11=11=11=1c=]■■
ALikingwhattheysaw,theyputinabid,infierce
competitionwithatleastfiveotherfinancial
institution.
BDespitethis,andalthoughheisoneofthe
relativelyfewtohaveprospered,hefeelsthathis
positionisfarfromsecure.
CGradually,though,asthenewstructuretookshape,
thebankbegantofeellikeamoderncompanywithan
exitingfuture.
DYoungemployeesweregivenresponsible
positions,includingMiroslav,whowasputincharge
ofadepartment
EThebankhas,ineffect,becomeafinancial
supermarket,wherecustomerscanpurchasethe
servicestheyneed'offtheshelf.
10
FTheydecidethatitwastherightmomenttoexploit
thisareaofweakness.
GWithaclientbaserestrictedtonational
corporations,forwhomitfinancedoverseastrade,the
P-STBputitssuccessdowntoreliabilityand
conservatism.
ii
PARTTHREE
Question13-18
Readthearticlebelowaboutcareersinchildren's
bookpublishingandthequestionsontheopposite
page.
Foreachquestion13-18,markoneletter(A,B,CorD)
onyourAnswerSheetfortheansweryouchoose.
LeadingfromtheTop
CatherineBauerlooksatcareerdevelopmentin
children'sbookpublishing
Togetonintheworldofchildren'sbookpublishing
oneneedstobe'bright,niceandnotambitious'.
Thosearethewordsofa37-year-oldmanagerwhois
thinkingaboutleavingtheindustry.Managersin
otherindustrieswould,bythatage,bestriving
12
towardsgreaterleadershipchallengesandrewards,
whileHumanResourcesdepartmentswouldbe
doingalltheycouldtopreventhungrycompetitors
fromgettingholdofexperiencedandtalented
employees.Maintainingsuccessfulcorporationsand
happyshareholderis,afterall,dependentonusing
thetalentsandexperienceofone'sstaff,noton
beingnice.
Careerprogressioninthechildren'ssectorof
publishingseemstobedeterminedalmostbyluck
ratherthanapropercareerstructureofassessment
ofemployees,competencies,SarahCarter,for
example,startedhercareerasanassistantinthe
customerservicedepartmentatWilliamDavis
Publishing.Sheonlybecameawareofavacancyin
publicrelationsbecauseherdepartmentwasonthe
samefloorasthepublicityoffice.1hadalreadybeen
promotedtomanagerinmydepartment,butrealized
thatanycareerdevelopmenttherewouldbelimited.I
decidedtomovesidewaysinPR,whichwasalso
whereIfeltmyskillweremoresuited.Iwasluckya
13
positioncameupwithinthecompany/
Acrossthepublishinghouses,stafftrainingor
developmentisgenerallydependentontheapproach
takenbyyourimmediateboss.VirginiaCouttts,
editorialdirectoratProdigyPublications,says,'This
isfine,ifyouhappentohaveonewhoiseffective.
WhenIstartedatProdigyIworkedforRoger
Gibbons.Iwasinchildren'sfiction,buthealsogave
mesomeworkonpicturebooksandnon-fiction,and
thatmeantIgainedexperienceinarangeofareas.
Healsomadesurethatnewpeopledidn'tcomein,
trainandthenmoveon.Anditwasn'taquestionof
beinghereforthethreeyearsorsobeforeyougot
promoted/
Noteveryonehasasimilarexperiencewiththeir
manager,butthisisnotsurprisingwhenone
considersthatfewmanagershavethemselveshad
anystructuredtraining.MarkHarlock,marketing
manageratTRpublishers,says,'Myjobchangein
managementwascompletelyunsupported-my
requestsfortrainingtookmonths,andbythetime
14
theywereapprovedtheneedhadpassed.Yes,you
learnonthejob,buthowmuchmoreconstructivefor
allinvolvedifithappensinastructuredway.Surely
thiswouldspeedupthelearningcurve?'
However,therearechangesintheair.AtLittleFeet
Publications,BarbaraFosterhasbeenoverhauling
thecompany'strainingandcareerstructuresothat
allemployeehaveregularappraisals.'Weareahead
ofourcompetitorshereatLittleFeet,butevenweare
onlybeginningtoscratchthesurface.Sofarthere's
beenlittleoppositiontotheappraisals,butthere's
stillloadstodoandtheresultswillnotbecomeclear
forafewyearsyet.'
Perhapstheindustryshouldconsideritselfluckyto
havesomanydedicatedmanagerswhohave,
throughacombinationofchanceanddetermination,
successfullydevelopedtheircareersinpublishing.
Clearlyitnowneedstoreviewwhatisbeingdoneto
develop,trainandrewardthenextgenerationof
bosses.Aboveall,theindustryhastofindmore
peoplewithentrepreneurialspiritandpushtheminto
15
demandingrolesratherthanmakethemservetheir
timeatajuniorleave,Butsuchchangescanonly
comefromtheverytop.
13Thewritersaysthatincomparisontopublishing,
othercompanies
Aaremoreconcernedwithpleasingtheir
shareholders.
Baremorefocusedonachievingtheirgoals.
Cplacegreaterimportanceonkeepingtheirbest
managers.
Dworkharderoninterpersonalrelationships.
16
14SarahCarterchangedherjobwithWilliamDavis
Publishingbecause
AthePublicRelationsdepartmentmadeitclearthey
wantedher.
Bshesawmorelong-termpotentialinpublicrelations.
Cshedidnotwanttorelocatetoantherfloor.
Ditrepresentedapromotionforher.
15VirginiaCouttssaysthatwhenshefirststartedat
ProdigyPublications
Asheintendedtomoveonquickly.
Bshehadawiderangeofskills.
Cshehadtodotoomanydifferentjobs
Dshehadagoodlinemanager.
17
16WhatdoesMarkHarlocksayaboutformaltraining?
AItisfasterthanlearningonthejob.
BItshouldbebasedonthetrainee'sspecificneeds.
CItismoreoftenapprovedformanagersthanother
employees.
DItenablesbetterworkingrelationshipstobebuilt
17Inusingthewords'scratchthesurface^line24),
BarbaraFostermeansthatheractions
Ahavestartedsomethingthatwilltakealotofworkto
complete.
Bhaverevealedbigproblemsthatshecouldnothave
foreseen.
Cmayturnouttobeunpopularwithsomeemployees.
Dmaycausedisputeswithotherpublishers.
18
18Inthefinalparagraph,thewriterrecommendsthat
thepublishingindustryshould
Aencouragemanagerstodelegateminormatters
moreoften.
Bputpressureondirectorstochangethewaythey
work.
Clookforpeoplewithbusinessflairandgoodideas.
Dspendmoretimetrainingexistingmanagers.
PARTFOUR
Question19-33
19
ReadtheadvicebelowabouttheUKretailsector.
ChoosethebestwordorphrasetofilleachgapfromA.
B.CorDontheoppositepage.
Foreachquestion19-33markoneletter(A..B.CorD)
onyourAnswersheet.
Thereisanexampleatthebeginning.
TheRetailSector
TheretailsectorisoneoftheUK'sbiggest
employmentareas,accountingforoneinnineofthe
(0)...BItisalsooneofthefastestgrowing-more
thanafifthofjobs(19)lastyearwereinretail.
Suchrapid(20)inthetightestlabourmarketfor
morethanagenerationshouldbe(21)upwages,
butitisnot.Whilethenational(22)wagegoesup
byabout5%ayear,inretailitgoesupby3.5%.
20
Theconsequencesoflowwagesandfarfrombrilliant
conditionsisrapidstaffturnover.Abouthalfthestaff
employedinretailleaveeveryyear.This(23)is
wayaboveeventhosesectorssuchasnursing,which
aresaidtobeinarecruitment(24)Partofthe
problemisthattheemployersthemselvesareunder
considerablefinancial(25)Retailissufferinga
long-termslideindependentofthe(26)andfalls
oftheeconomy.Oneofthereasonsforthisis
consumerexpectations.Withthegrowthof
e-commerce,customerslookforbiggerandbetter
bargainsandinsiston(27)formoney.
21
Therearesomeplusesforemployees,however,low
wagesandhighturnovermakeretailayouthfulsector.
Realmanagerial(28)canbeattainedbythe
mid-20s,soschool-leaversorrecentgraduatesneed
onlywaitashorttimebeforegainingpromotion.And
despitetheproblem,theretailsectordoes,on
occasion,(29)someofthemoreprogressive
career(30)programmes.Thesupermarketchain
Robertson,forexample,hasacommunityservice
schemethattrainsstaffinteam-building'through
workonneighborhoodprojects.Andclothesretailer
P&Rhasanimpressive(31)whenitcomesto
employingolderpeople.Itpursuesa(32),of
employingmaturepeoplewithlong(33)ofthe
products,asitbelievestheyprovidebettercustomer
service.
Example;
AcompanyBworkforceC
persDorganization
22
19AmadeBformedC
createdDappointed
20AexpansionBincreaseC
additionDextension
21AgettingBpushingC
turningDgiving
22AnormalBmediumC
averageDcommon
23AfigureBsumC
dataDcalculation
24AemergencyBdisasterC
troubleDcrisis
25AweightBforceC
powerDpressure
23
26AclimbsBrisesC
increasesDadvances
27AadvantageBbenefitC
worthDvalue
28AcareBresponsibilityC
dutyDreliability
29AcauseBpresentC
produceDbring
30AdevelopmentBoutcomeC
continuationDprogress
31AreportBdistinctionC
creditDrecord
32ApolicyBcodeC
procedureDtheory
33AknowledgeBcontactC
historyDexperience
24
PARTFIVE
Questions34-45
Re
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