单选题· For each question (23-30), mark one letter (A, B or C) for the correct answer.· After you have listened once, replay the recording.

单选题A year ago, the only steel assets Tom White Jr. owned were a Chrysler Cherokee and a Mercedes-Benz. Today thanks to his enormous effort with United Steelworkers President Leo Gerard, the New York financier is emerging as one of the most important steel executives in decades. White made a fortune investing in bankrupt companies such as Texaco and Fruit of the Loom, but didn"t buy his first steel property until last April, when he bought the mills of bankrupt ATM Corp. no longer in use, for $262 million. At the time the industry was in retreat. Destroyed by extremely cheap imports, nearly half the nation"s mills had gone bankrupt, including three of the top five. When assessing White"s chances, those in the industry were not optimistic. Yet within a month, White and his partners were rehiring the old workers of what had been the No. 4 steel producer in the U. S., the International Steel Group. Now, the 1SG chairman is close to finalizing his biggest deal yet—a $1.5 billion bid for the assets of Bethlehem Steel Corporation, which has slowly been descending into bankruptcy since October, 2001. How has White been able to do this? Partly, it is to do with his excellent business understanding. White, 65, perfected his restructuring skills through 24 years at investment bank Rothschild Inc., and negotiated to buy the ATM mills just before President Bush set restrictions that removed foreign suppliers. White brings an outsider"s approach to management. Today, ISG has just 22 executives-ATM had more layers than that. More than just salary savings, the cost cuts have shifted more responsibility to the shop floor, which, in turn, has increased productivity. White says that mill workers suggested asking for new pieces of steel ten minutes before a production run was about to end, rather than waiting until it had ended, as was normal. This clever move adds thirty minutes of extra output a day. The bottom line even with a well-paid union workforce, ISG has lifted productivity levels close to the levels of nonunion Nucor Corporation. Not had for such a new businessman.

单选题When is a low-cost airline not a "no-frills" airline? When it adds frills. Business travellers who have taken enthusiastically to value-for-money air (19) are now being offered packages more commonly associated with mainstream airlines. To date, the attraction of no-frills airlines has been based on price: forget the more convenient departure points, creature comforts or ease of (20) . Easyjet, Ryanair and Debonair have all undercut leading carriers by as (21) as 70 percent on high volume routes. However, in the wake of increased competition and aggressive price-cutting from mainstream airlines such as KLM UK, three no-frills airlines are changing tack. Virgin Express is (22) legroom and is contemplating the (23) of a frequent-flyer programme; Go, owned by British Airways, is wooing the business traveller: and Debonair is introducing a business class section next week. Debonair, based at Luton Airport, north of London, was launched just over two years ago and went into (24) for the first time this summer. Even when it started, it (25) itself slightly apart from its low-cost competitors by offering more seat comfort, a drink in-flight and a (26) frequent-flyer scheme. Debonair's business class, called ABC, will give (27) more privacy during the flight, a fully-refundable, flexible ticket, a free bar, a snack and a dedicated check in desk. Yet the (28) will remain as much as 40 percent below the average business class ticket price. Other low-cost airlines, however, are standing (29) . Even so, Easyjet, which markets itself on lowest price, no catering and direct sell, has now introduced a ￡10 (30) to allow its passengers to (31) from one Easyjet flight to another. This is effectively a concession to the business traveller, who needs more flexibility. Attempts by Virgin Express, Go and Debonair to move upmarket are being (32) by some as the beginning of a consolidation in the sector. With so much (33) on price, it seems likely that some players in the low-cost airline business will fail to survive.

单选题· Read the article below about process management to quality improvement, and the questions on the opposite page.· For each question 13--18, mark one letter (A, B, C, or D) on your Answer Sheet for the answer you choose. {{B}} PROCESS MANAGEMENT TO QUALITY IMPROVEMENT{{/B}} The examples above illustrate the need for integrated process and quality management, based on well-structured procedures, sensibly applied. For an organization to function effectively, it must have visible and easily understood procedures that assist staff in carrying out their work and provide accountability for all operations. Providing such a system is not trivial, and it cannot be done without considerable thought and hard work. But the results will more than justify the effort. Modern management must deal with degrees of complexity unheard of only a few decades ago. They must integrate many systems--for example, for purchasing, personnel, accounting, stock control, and computing--when each of these systems is itself highly complex. At the same time, they must ensure that they comply with a baffling variety of legal, safety, and regulatory and other requirements relevant to their organization. While struggling with these issues, the manager is under irresistible pressure from global competition to reduce costs to the minimum. With such pressure, we are obliged to provide structure and organization, which enable us to deal with such complexity. We group similar processes, collect similar information into records and classify the various activities that the organization must deal with. We organize staff and computer systems into units that deal with similar types of problems or situations. In all disciplines, the provision of structure of classification is dealt with through a systematic method recognized by the practitioners. In engineering, architecture, medicine and other practical professions, the practitioners learn the relevant methods and then apply them to solve problems. Process and quality management have the same need to approach the problems with a systematic method, which facilitates structuring of problems and produces practical solutions. One of the key criteria for a satisfactory method is that it should be applicable to a wide range of problems and concerns dealt with by the discipline. Once a method is in place, it provides a language and a framework for doing works therefore, it must have the scope to deal with all problems that may arise. In quality management, the range of problems centers on "conformance to requirements". When this is interpreted most widely, as in TQM, requirements are not just those of the direct customer, but also those in internal departments and the wider requirement of the law and of regulatory agencies. Seen this way, all procedures and operations carried out are deal with all such issues uniformly which will provide an efficient and elegant solution to the problem of quality management. In process management, the problem centers on definition of the objectives of the organization, and the design of processes that support them. Since efficiency and effectiveness are always major objectives, the organization will also require that processes make efficient use of resources, including human and material resources and provide effective results, in terms of meeting the requirements of customers and other stakeholders in the organization. A systematic method must also provide support for these essential process attributes. Finally, the method must support people as they carry out processes. It should enhance their working lives and help them to discover better and more interesting ways of doing their jobs. It should endow empowerment and an involvement in decision-making by everyone involved in the process.

单选题AndyLaudidNOTAdrawonhumanpsychologytobetterunderstandimportantsocialprocessesinbusinessorganizations.BspecialiseinstudyingthecontrastbetweenbusinessrelationshipsinChinaandtheUnitedStates.Ccompletethearticlealone.

单选题· Read the article below about flea market and the questions on the opposite page.· For each question 13--18, mark one letter (A, B, C, or D) on your Answer Sheet for the answer you choose. {{B}} Flea Market Shopping Can Be Satisfying{{/B}} Whether in London, Paris or at a rural antique fair, an addictive adrenaline surge is triggered when I discover an architectural fragment I know can be converted into a headboard, or when I come across an old sea chest that, with some paint and polish, can be made to work as a coffee table. In truth it took quite a while, but I finally learned to practice self-discipline when browsing at flea markets. It's that time again, sunny days are upon us, and flea market and antiques sales wait. Old pieces with great potential abound--all you have to do is to spot them. But wait a moment, I just got something to tell you before you plunge into it. That will help make your hunt more fruitful. Believe it or not, you'll definitely be inspired. Keep an open mind. You may not come away with the things that were on your list, but that's the beauty of the hunt. you never know what you'll find. If you didn't find a particular item this week, don't despair--chances are you'll find it next time. Know when to walk away. Sometimes playing the cool, uninterested browser will get you a better deal on an item, but don't be too coy. If you see something you like, buy it--there may not be a second chance on a one-of-a-kind find. Know how to negotiate. Although haggling over a price is part of the experience, an offer that's too low is insulting. Vendors will often lower the marked price by about 10 percent. Buying several items from one vendor and giving them regular business will get you a better deal. Know who to buy from. This is a well-kept secret among flea-market gurus. You're more likely to get a deal on items that aren't part of a vendor's regular supply. Vendors sometimes pick up odd items to add to the mix and may be more willing to part with them for less money. Have cash on hand. Cash is always the most powerful negotiating tool and best method of payment. Most vendors won't accept checks or credit cards. Small bills make it easier when you're haggling a sale. Markets in rural areas have ATM machines nearby, but field markets usually don't. Be aware that prices often prove more negotiable when vendors learn you'll be paying with cash rather than with a credit card. Anyway, a flea market is an interesting place to visit if you want to buy something or if you want to buy nothing. It consists of an open space filled with individual vendors selling used or almost new merchandise, as well as produce, paintings and crafts. Approach your acquaintances or public library for the location of the nearest flea market and for the days and hours it is open. Don't be surprised if you find the very thing you have been looking for] You may wish to set up your own table at the flea market if you would like to sell toys, books and items that you no longer use. It will be another kind of pleasure. Now it's your turn to go and find out.

单选题Three Bootleggers Jailed Three men who ran a cross-channel smuggling group, selling cheap French beer, wine and champagne in Britain, were jailed yesterday. The men were leaders of an 11-man group which made at least 42 tours on the Dover-Calais ferry in three months. Trucks of cheap drink were brought into the country and sold (19) at Sunday market and corner shops in South Wales. Two secret teams of customs officers (20) vehicles between Kent and Cardiff in an operation called "chancer". Eleven men admitted their part in a (21) to avoid paying duty on beer and spirits. Mr. Roger Thomas said it was (22) that 70,000 pounds of unpaid duty was involved between January and April last year when the gang was (23) the smuggling group. Cases of beer, wine and champagne were brought to a rented warehouse in Cardiff before being (24) to traders. Mr. Richard Nichols, a former market trader, Mr. Qichard Spencer, a shopowner, and Mr. Raymond Tout, were put in prison for (25) of nine, four and three months (26) Judge Michael Burr said the group had used "an army of helpers" in an organized conspiracy to make (27) money. He ordered six other men to carry out community service and conditionally (28) two others who had played a lesser role. After the (29) customs investigators said that the group made as many as four cross channel trips a day (30) to a hypermarket near Calais. They went into business only three weeks after the new customs laws came into (31) on New Year's day last year. The investigators added: "We hope these jails (32) will be a big help to tackle this (33) crime which is causing concern to the retail industry.

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单选题· Read the article below about problems in the IT industry, and the questions on the opposite page.· For each question (13-18), mark one letter (A, B, C or D) on your Answer Sheet. {{B}} Problems in the IT industry{{/B}}In the information technology industry, it is widely acknowledged that how well IT departments of the future can fulfil their business goals will depend not on the regular updating of technology, which is essential for them to do, but on how well they can hold on to the people skilled at manipulating the newest technology. This is becoming more difficult. Best estimates of the current shortfall In IT staff in the UK are between 30,000 and 50,000, and growing.And there is no end to the problem in sight. A severe industry-wide lack of investment in training means the long-term skills base is both ageing and shrinking. Employers are chasing experienced staff in ever-decreasing circles, and, according to a recent government report, 250,000 new IT jobs will be created over the next decade. Most employers are confining themselves to dealing with the immediate problems. There is little evidence, for example, that they are stepping up their intake of raw recruits for in* house training, or retraining existing staff from other functions. This is the course of action recommended by the Computer Software Services Association, but research shows its members are adopting the short-term measure of bringing in more and more consultants on a contract basis. However, this approach is becoming less and less acceptable as the general shortage of skills, coupled with high demand, sends contractor rates soaring. An experienced contract programmer, for example, can now earn at least double the current permanent salary.With IT professionals increasingly attracted to the financial rewards and flexibility of consultancy work, average staff turnover rates are estimated to be around 15%. While many companies in the financial services sector are managing to contain their losses by offering skilled IT stall 'golden handcuffs' - deferred loyalty bonuses that tie them in until a certain date - other organisations, like local governments, are unable to match the competitive salaries and perks on offer in the private sector and contractor market, and are suffering turnover rates of up to 60% a year.But while loyalty bonuses have grabbed the headlines, there are other means of holding on to staff. Some companies are doing additional IT pay reviews in the year and paying market premiums. But such measures can create serious employee relations problems among those excluded, both within and outside IT departments. Many Industry experts advise employers to link bonuses to performance wherever possible. However, employers are realising that bonuses will only succeed if they are accompanied by other incentives such as attractive career prospects, training, and challenging work that meets the individual's long-term ambitions.This means managers need to allocate assignments more strategically and think about advancing their staff as well as their business. Some employers advocate giving key employees projects that would normally be handled by people with slightly more experience or capability. For many employers, however, the urgency of the problem demands a more immediate solution, such as recruiting skilled workers from overseas. But even this is not easy, with strict quotas on the number of work permits issued. In addition, opposition to the recruitment of IT people from other countries is growing, as many professionals believe it will lead to even less investment in training and thus a long-term weakening of the UK skills base.

单选题Catching out the Dishonest CandidateMost personnel managers agree that job interviews are one of the least objective recruitment methods. But the advantages of testing are not going to change the attraction of the interview to employers. The appeal of the interview has everything to do with the (19) factor. Most people believe they are a (20) judge of character and trust their instinctive feelings. We might use some kind of test to aid the (21) process, but we usually pick a candidate who interviews will, has good (22) and an impressive work record.But (23) the candidate lies or is less than completely honest 'This can be a serious problem for employers', (24) Alan Conrad, Chief Executive at Optimus Recruitment. 'The most difficult liars to find out those who (25) half-truths rather than complete lies.' Research (26) that up to 75 per cent of curriculum vitaes are deliberately inaccurate. The most common practice is (27) Interviewers should therefore concentrate on areas of (28) such as gaps between periods of employment and job (29) that seem strange. 'Focusing on these areas will force candidates to tell the truth or become increasingly (30) This is usually when people signal their (31) by their body language. Sweat on the upper lip, false smiles and nervous hand movements all (32) discomfort.'Conrad does not suggest an aggressive police-style interview technique, but insists that (33) inspection of a curriculum vitae is absolutely essential. Only by asking the right questions can you confirm the suitability of the candidate or put pressure on those who are being less than completely honest.

单选题If we want to make a big impact, consider a TV campaign. A. we'll have to B. we better C. we had to D. we've got

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单选题· For each question (13-18), mark one letter (A, B, C or D) on your Answer Sheet. {{B}}SHEER GENIUS - OR A WASTE OF TIME?{{/B}}{{I}}Encourage your original thinkers and live with their strange habits, says Alan Worthin{{/I}} If one of your research staff announced that he had worked out a way to propel a vehicle on a cushion of air, would you tell him to concentrate on something practical, or suggest taking it further? If a member of your development team asked if she could come in late because she had her best ideas at 3 am would you insist that she is in the office at 9 am like everyone else? Current business wisdom is that companies need creative, innovative people to beat competitors. The reality is that companies have always needed new ideas to survive and progress, but in the past they weren't particularly good at encouraging the people who produced them. Original thinkers don't always fit easily into the framework of an organisation. However, the advice from managing director, John Serrano is, 'Get rid of the dull people and encourage the unusual ones'. Essentially, he believes that companies need to learn how to manage their original thinkers in order to ensure that the business profits from their contribution. He also says, 'Original thinkers often find it difficult to drive change within the organisation, so they resign, feeling angry and disappointed. It is essential to avoid this.' 'You can't recognise original thinkers by the way they look,' says Ian Freeman. 'An apparently ordinary exterior can conceal a very creative thinker.' His consultancy, IBT Personnel, has devised a structured way to identify original thinkers. 'We define employees as champions, free-wheelers, bystanders and weak links, and most original thinkers come into the category of free-wheelers. They may miss deadlines if they become involved in something more interesting. They are passionate and highly motivated but have little or no understanding of business directions and systems.' Headhunter George Solomon also thinks original thinkers have their disadvantages. 'They may have a bad influence within an organisation, especially given the current management trend for working in teams. The original thinkers them- selves may be unaware of any problem, but having them around can be disruptive to colleagues, who have to be allowed to point out when they are being driven crazy by the original thinkers' behaviour.' Yet, in his opinion, the 'dream team' in any creative organisation consists of a balanced mixture of original thinkers and more practical, realistic people. So, having identified your original thinkers, how do you handle them? One well-known computer games company has a very inventive approach. 'We encourage our games designers by creating an informal working environment,' says director Lorna Marsh. 'A company cannot punish risk- takers ff it wants to encourage creativity. Management has to provide support, coaching and advice-and take the risk that new ideas may not work. Our people have flexible working hours and often make no clear distinction between their jobs and their home lives.' Original thinkers may fit into the culture of 21st century organisations, but more traditional organisations may have to change their approach. Business psychologist Jean Row believes that the first step is to check that original thinkers are worth the effort. 'Are the benefits they bring worth the confusion they cause? If so, give them what they want, allow plenty of space, but set clear limits. Give them extremely demanding targets. If they fall to meet them, then the game is up. But if they succeed, your organisation stands only to gain.'

单选题· Read the article below about how to read annual report and the questions on the opposite page.· For each question 13-18, mark one letter (A, B, C or D) on your Answer Sheet for the answer you choose. {{B}} How to read annual reports{{/B}} First, turn back to the report of the certified public accountant. This third-party auditor will tell you fight off the bat if Galaxy's report conforms with "generally accepted accounting principles". Then go to the footnotes. Check to see whether earnings are up or down. The footnotes often tell the whole story. Then turn to the letter from the chairman, Usually addressed "to our shareholders," it's up front -- and should be in more ways than one. The chairman's tone reflects the personality, the well- being of the company. In this letter, the chairman should tell you how the company fared this year. But more important, the letter should tell you why. Keep an eye out for sentences that start with "Except for..." and "Despite the..." They're clues to problems. On the positive side, a chairman's letter should give you insights into the company's future and its stance on economic or political trends that may affect it. Now begin digging into the numbers! One source is the balance sheet. It is a snapshot of how the company stands at a single point in time. On the top are assets -- everything the company owns. Things that can quickly be turned into cash are current assets. On the bottom are liabilities -- everything the company owes. Current liabilities are the debts due in one year, which are paid out of current assets. The difference between current assets and current liabilities is working capital, a key figure to watch from one annual report to another. If working capital shrinks, it could mean trouble, one possibility: the company may not be able to keep dividends growing rapidly. Owners' equity is the difference between total assets and liabilities. It is the presumed dollar value of what the owners or shareholders own. You want it to grow. The second basic source of numbers is the income statement. It shows how much money Galaxy made or lost over the year. Most people look at one figure first. It's in the income statement at the bottom: earnings per share. Watch out. It can fool you. Galaxy's management could boost earnings by selling off a plant. Or by cutting the budget for research and advertising. The number you .should look at first in the income statement is net sales. Ask yourself: are sales going up at a faster rate than the last time around? When sales increases start to slow, the company may be in trouble. Have sales gone down because the company is selling off a losing business? If so, profits may be soaring. Another important thing to study is the company's debt. Turn to the balance, and divide long-term liabilities by owners' equity. That's the debt-to- equity ratio. A high ratio means the company borrows a lot of money to spark its growth. That's okay -- if sales grow too, and d there's enough cash on hand to meet the payments. A company doing well on borrowed money can earn big profits for its shareholders. But if sales fall, watch out. The whole enterprise may slowly sink. Some companies can handle high ratios; others can't. Finally, you have to compare. Is the company's debt-to-equity ratio better or worse than it used to be? Better or worse than the industry norms? In company-watching, comparisons are all. They tell you if management is staying on top of things.

单选题If you ice in warm water, it soon melts. A. will place B. would place C. place D. placed