单选题RichardWoodstartedtheinternetcompany,Bookstore,becausehefelt

单选题·Read the article below about common Stock and Preferred Stock and the questions. ·For each question (13-18), mark one letter (A, B, C or D) Common Stock and preferred Stock A public corporation issues certificates of ownership, called common stock, which may be traded on stock exchanges.Anyone can buy and sell shares of common stock.Owners of stock are referred to as shareholders and stockholders. common stockholders are accorded certain rights by the corporate charter.In the United States, these rights vary from state to state, but in general the articles of incorporation spell out voting rights and rights to receive profits. Common stockholders are the voting owners of a corporation.They are usually entitled to one vote per share.They may vote on numerous issues affecting the corporation (including a decision to sell or merge with another corporation) and elect a board of directors, who, in turn, hire managers to run the business.A majority shareholder is one who owns over 50 percent of the outstanding shares in a corporation and, thus, can call the shots.All other shareholders are minority shareholders.In large corporations no single person or organization owns anywhere near a majority interest.In large, publicly owned corporations a shareholder with as little as 10 percent of the shares may control the corporation effectively.If things go bad, a coalition of so called dissident shareholders may gather enough votes to replace the existing board of directors; the new board may fire the existing management and bring in their own management team. Although common stock represents ownership in a company, it does not guarantee the owners a specified rate of return.As owners, the stockholders receive profits after all expenses, including debts and taxes, have been paid. They receive profits from the business in the form of dividend payments, which represent a percentage of profits.Not all after-tax profits are paid to the stockholders in dividends.Directors usually decide quarterly how much, if any, if the profits they wish to distributed to the owners. The profits are either distributed to the owners in dividends or they are reinvested bank into the company in the form of retained earnings.If the company decides to keep the profits, the company may become more valuable and the price of the stock usually goes up.Some investors prefer profits in the way of dividends while others speculate for an increase in the price of stock.If a company goes broke, common stockholders get last claim on whatever is left over. Corporations may also issue preferred stock to investors.Preferred stock usually has no vote in the election of the board of directors, but does get preference in the distribution of the company's earnings.It offers investors a different type pf security and may be issued only after common stock had been issued.The term "preferred" applies to two conditions.First, preferred stockholders gain preferential treatment in the matter of dividends; that is, they receive a fixed rate of dividends prior to the payment of dividends on common shares.Second, if the company goes out of business or liquidates, preferred stockholders are closer to the front of the line than common stockholders when distributing the company's assets. Dividends to preferred stock may be cumulative or noncumulative.cumulative preferred stock maintained its claim to dividends even if the company had a bad year in 1994, they might decide not to pay dividends.But if they had a good year in 1995, and declared stock dividends do not accumulate.If dividends are not declared, noncumulative owners lose their claim to the profit of that period. In short, common stock usually has more control through voting privileges, greater chance for high returns and more risk, whereas preferred stock usually has less control,fixed returns, less risks, and less chance for big gains.

单选题RickyBlandcriticisesUKemployersfor______.

单选题 Benchmarking The expression benchmarking has become one of the fashionable words in current management discussion. The (19) first appeared in the United States in the 1970s, but has now (20) world-wide recognition. But what (21) does it mean and should your company be practicing it? Benchmarking (22) learning about your own practices, learning about the best practices of others, and then making (23) for improvement that will enable you to meet or beat the beast in the world. The essential element is not (24) imitating what other companies do but being able to (25) the best of other firms' practices to your own (26) . Instead of aiming to improve only against previous performance and scores, companies can use benchmarking to inject an element of imagination and common (27) into their search for progress. It is a process which forces companies to look closely at those activities which they may have been taking for granted and (28) them with the activities of other, world-beating companies. Self-criticism is at the (29) of process, although in some cases this may (30) managers who are reluctant to question long-established practices. The process of identifying best practice in other companies does not just mean looking closely at your (31) . It might also include (32) companies which use similar processes to your own, even though they are producing different goods. The point is to look at the process (33) than the product.

单选题Sallysaysthatthechangeswereplannedby______.

单选题According to the second paragraph, what has led to a lack of support for entrepreneurs?

单选题· Read the article below about responsibility.· For each question 13-18, mark one letter (A, B, C or D) on your Answer Sheet, for the answer you choose. {{B}} Business and Social Responsibility{{/B}} Today more and more people believe that business should play an active role in improving society and solving social problems. For example, we expect that businesses will take care not to pollute the air we breathe or the water we drink. We also expect them to offer fair wages and employee benefits and to provide a satisfactory product or service at a reasonable price. Many companies recognize this and have stated publicly that they will act as a good citizen. They support local arts, build parks, raise funds for charities, and try to put back some of their profits into the community that has made their success possible. A good reason for businesses to be socially responsible is that society gives business organizations the right to exist. A social setting or environment, with its laws, customs, and other social and cultural norms, allows businesses to form and function. It is only right for businesses to participate in making the community in which they operate a better place. To be socially responsible also benefits businesses. In many cases, a company will make greater profits in the long run if it considers benefits to society. Customers actually vote for products and companies when they make a purchase. If a product is of good quality and priced fairly, they will probably buy it more than once. But when customers find out that a manufacturer produces only inferior or shoddy products that cheat them out of their money, they may become so angry that they will never purchase another of their products. Consumers may also shun firms that pollute the environment or engage in unethical practices by not buying their products. When enough people believe a business no longer serves society's best interests, they may pressure the firm into its doom by boycotting its goods or services, influencing officials against it, condemning it in the media, or patronizing other firms. A business whose goal is to maximize profits is not likely to act out of a sense of social responsibility although its activity will probably be legal. Only businesses that are concerned about society as well as about maintaining profitability are likely to invest voluntarily in socially responsible activities. For example, the former president of Pizza Hut, Orr Gunther, implemented a program called "Book-it." This program rewarded children with a free pizza for reading a certain number of books. Such a business may win the trust and respect of its customers andin the long run increase profits. To be successful, a business must determine what customers and society want or expect in terms of social responsibility. Although .social responsibility may seem an abstract idea, managers consider it on a daily basis as they deal with real issues. A business must monitor changes and needs in society in order to behave in a .socially responsible way.

单选题Mr.BensonsentalettertoWealdon

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 per cent 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 (20) 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 per cent 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Thebasiccharacteristicofcountertradetransactionsisthat

单选题BrentCollinsworks

单选题· Read the fax below about people express.· Choose the best word to fill each gap from A, B, C or D on the opposite page.· For each question 19-33,mark one letter( A, B, C or D)on your Answer Sheet.· There is an example at the beginning, (0). {{B}} People Express{{/B}} People Express, founded in April 1981, grew rapidly on the basis of low fares and no-frills service. It soon became a leading airline and {{U}}(19) {{/U}} changed the industry as firms constantly engaged in price wars to lure passengers. Then, People Express' bubble {{U}}(20) {{/U}} because it overexpanded, consumer complaints mounted and other airlines matched its fares on popular routes. In 1986,People Express {{U}}(21) {{/U}} hundreds of millions of dollars and was forced to sell out to Texas Air, the owner of Continental and Eastern Airlines. In early 1987,Texas Air {{U}}(22) {{/U}} People Express into its Continental division and industry observers believed {{U}}(23) {{/U}} the costly fare wars would be ended. They could not have been more wrong. To stimulate business for its {{U}}(24) {{/U}} Continental Airlines, Texas Air instituted a new low fare category {{U}}(25) {{/U}} MaxSaver. The fare offered prices that were up to 40 per cent lower than" supersaver" rates offered …28…all airlines. For example, the round-trip MaxSaver fare from New York to Houston was $79. The MaxSaver fares were immediately matched by all major airlines, {{U}}(26) {{/U}} feared losing business. While MaxSaver rates were low, they also had restrictions. Tickets could not be {{U}}(27) {{/U}} or flight times modified after purchase. Passengers would have to stay over either a Saturday or Sun- day. Reservations had to be made at least two days {{U}}(28) {{/U}} ,and there were limited seats available. Three weeks after MaxSaver rates were {{U}}(29) {{/U}} American Airlines announced plans to raise its discount fares and require 30-day {{U}}(30) {{/U}} purchasing for its lowest fares. It felt it could not continue at the rates in effect. However, just 10 days {{U}}(31) {{/U}} American Airlines had to revise its plan. Texas Air refused to abandon the MaxSaver fare; it even extended the {{U}}(32) {{/U}} pro- gram into the busy summer season. Competitors went along and the price war raged on, {{U}}(33) {{/U}} an executive's that "nobody's cost structure can survive MaxSave."

单选题· For each question (13-18), mark one letter (A, B, C or D) on your Answer Sheet. {{B}}BRITISH COMPANIES CROSS THE ATLANTIC{{/B}}Next month a large group of British business people are going to America on a venture which may generate export earnings for their companies' shareholders in years to come. A long list of sponsors will support the initiative, which will involve a they are fed up with the banal, middle-of-the-road taste that America does so well. They are now looking for the small, the precious, the 'real thing', and this is precisely what many of the companies participating in the initiative do best.

单选题The Difficulties Of Managing A Small Business Ronald Meers asks who chief executives of entrepreneurial or small businesses can turn to for advice.'The organisational weaknesses that entrepreneurs have to deal with every day would cause the managers of a mature company to panic,' Andrew Bidden wrote recently in Boston Business Review. This seems to suggest that the leaders of entrepreneurial or small businesses must be unlike other managers, or the problems faced by such leaders must be the subject of a specialised body of wisdom, or possibly both. Unfortunately, neither is true. Not much worth reading about managing the entrepreneurial or small business has been written, and the leaders of such businesses are made of flesh and blood, like the rest of us.Furthermore, little has been done to address the aspects of entrepreneurial or small businesses that are so difficult to deal with and so different from the challenges faced by management in big business. In part this is because those involved in gathering expertise about business and in selling advice to businesses have historically been more interested in the needs of big business. In part, in the UK at least, it is also because small businesses have always preferred to adapt to changing circumstances.The organisational problems of entrepreneurial or small businesses are thus forced upon the individuals who lead them. Even more so than for bigger businesses, the old saying is true - that people, particularly those who make the important decisions, are a business's most important asset. The research that does exist shows that neither money nor the ability to access more of it is the major factor determining growth. The main reason an entrepreneurial business stops growing is the lack of management and leadership resource available to the business when it matters. Give an entrepreneur an experienced, skilled team and he or she will find the funds every time. Getting the team, though, is the difficult bit.Part of the problem for entrepreneurs is the speed of change that affects their businesses. They have to cope with continuous change yet have always been suspicious about the latest 'management solution'. They regard the many offerings from business schools as out of date even before they leave the planning board and have little faith in the recommendations of consultants when they arrive in the hands of young, inexperienced graduates. But such impatience with 'management solutions' does not mean that problems can be left to solve themselves. However, the leaders of growing businesses are still left with the problem of who to turn to for advice.The answer is horribly simple: leaders of small businesses can ask each other. The collective knowledge of a group of leaders can prove enormously helpful in solving the specific problems of individuals. One leader's problems have certainly been solved already by someone else. There is an organisation called KITE which enables those responsible for small businesses to meet. Its members, all of whom are chief executives, go through a demanding selection process, and then join a small group of other chief executives. They come from a range of business sectors and each offers a different corporate history Each group is led by a 'moderator', an independently selected businessman or woman who has been specially trained to head the group. Each member takes it in turn tu host a meeting at his or her business premises and, most important of all, group discussions are kept strictly confidential. This encourages a free sharing of problems and increases the possibility of solutions being discovered.