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单选题Business Challenge In 1994, the Boliari Limited, the holding company for Piccadilly Supermarkets, was founded The first supermarket was established the following year in Varna, a resort town on the Black Sea coast. Subsequent growth has been (19) By mid 2006 Piccadilly operated six supermarkets in Varna and two in the Bulgarian capital Sofia, together with six separate (20) format "Mambo" convenience stores. Plans are in (21) for expansion across Bulgaria with another two stores due to open shortly in different towns in the country. Piccadilly's size and growth make it a significant (22) in the local economy and the company intends to be the leading supermarket in Bulgaria. Its (23) is on quality and it seeks to offer a wide range of goods in an attractive shopping environment (to provide shopping experience). The company's (24) is "load high spirits" and the aim is to (25) the high level of service achieved throughout the chain. The average age of the staff is under 30 and the company (26) the recruitment of young people and students—over 50% of the current workforce are (27) in some form of university or college studies. Bulgarian higher education allows students to study for a (28) number of hours in the day and to live at home. Inevitably this (29) to recruitment produces some challenges: for some of the staff it is their first real job and some of them face difficulties adapting to a pattern of (30) work. Some have the option of seeking parental support for their studies, so attrition rates can be high, especially in the early stages. Moreover the company has a (31) of growing its management from within so the management staff have not always gained the breadth of (32) that comes with a mature workforce. Set against this the staffs are intelligent and many are willing to commit if the organization treats them fairly and offers them (33) opportunities.

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单选题12 If the components delivered earlier we might have been able to start work on time. A. might have been B. were C. would have been D. had been

单选题Employment SituationOpinion polls are now beginning to show that, whoever is to blame and whatever happens from now on, high unemployment is probably here to say. This means we shall have to find ways of sharing the available employment more widely.But we need to go further. We must ask some fundamental questions about the future work. Should we continue to treat employment as the norm? Should we not rather encourage many ways for self-respecting people to work? Should we not create conditions in which many of us can work for ourselves, rather than for an employer? Should we not aim to revive the household and the neighborhood, as well as the factory and the office, as centers of production and work? The industrial age has been the only period of human history in which most people's work has taken the form of jobs. The industrial age may now be coming to an end, and some of the changes in work patterns which it brought may have to be reversed. This seems a daunting thought.But, in fact, it could offer the prospect of a better future for work. Universal employment, as its history shows, has not meant economic freedom.Employment became widespread when the enclosures of the 17th and 18th centuries made many people dependent on paid work by depriving them of the use of the land, and thus of the means to provide a living for themselves. Then the factory system destroyed the cottage industries and removed work from people's homes. Later, as transport improved, first by rail and then by road, people commuted longer distances to their places of employment until, eventually, many people's work lost all connection with their home lives and the places in which they live.Meanwhile, employment put women at a disadvantage. In preindustrial times, men and women had shared the productive work of the household and village community. Now it became customary for the husband to go out to paid employment, leaving the unpaid work of the home and families to his wife. Tax and benefit regulations still assume this norm today, and restrict more flexible sharing of work roles between the sexes. It was not only women whose work status suffered. As employment became the dominant form of work, young people and old people were excluded--a problem now, as more teenagers become frustrated at school and more retired people want to live active lives. All this may now have to change. The time has certainly come to switch some efforts and resources away from the idealist goal creating jobs for all, to the urgent practical task of helping many people to manage without full-time jobs.

单选题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The Importance of Good Communications Effective communication is essential for all organizations. It links the activities of the various parts of the organization and ensures that everyone is working towards a common goal. It is also extremely important for motivating employees. Staff need to know how they are getting on, what they are doing right and in which areas they could improve. Working alone can be extremely difficult and it is much easier if someone takes an interest and provides support. Employees need to understand why their job is important and how it contributes to the overall success of the firm. Personal communication should also include target setting. People usually respond well to goals, provided these are agreed between the manager and subordinate and not imposed. However, firms often have communication problems that can undermine their performance. In many cases, these problems occur because messages are passed on in an inappropriate way. There are, of course, several ways of conveying information to others in the organization which include speaking to them directly, e- mailing, telephoning or sending a memo. The most appropriate method depends on what exactly it is you are communicating. For example, anything that is particularly sensitive or confidential, such as an employee's appraisal, should be done face-to-face. One of the main problems for senior executives is that they do not have the time or resources needed to communicate effectively. In large companies, for example, it is impossible for senior managers to meet and discuss progress with each employee individually. Obviously this task can be delegated but at the cost of creating a gap between senior management and staff. As a result, managers are often forced to use other methods of communication, like memos or notes, even if they know these are not necessarily the most suitable means of passing on messages. The use of technology, such as e-mail, mobile phones and network systems, is speeding up communication immensely. However, this does not mean that more investment in technology automatically proves beneficial: systems can become outdated or employees may lack appropriate training. There are many communications tools now available but a firm cannot afford all of them. Even if it could, it does not actually need them all. The potential gains must be weighed up against the costs, and firms should realize that more communication does not necessarily mean better communication. As the number of people involved in an organization increase, the use of written communication rises even faster. Instead of a quick conversation to sort something out numerous messages can be passed backwards and forwards. This can lead to a tremendous amount of paperwork and is often less effective than face-to-face communication. When you are actually talking to someone you can discuss things until you are happy that they have understood and feedback is immediate. With written messages, however, you are never quite sure how it will be received what you think you have said and what the other person thinks you have said can be very different. The amount of written information generated in large organizations today can lead to communication overload. So much information is gathered that it gets in the way of making decisions. Take a look at the average manager's desk and you will see the problem — it is often covered with letters, reports and memos. This overload can lead to inefficiencies. For example, managers may not be able to find the information they want when they need it. Communication is also becoming more difficult with the changes occurring in employment patterns. With more people working part-time and working at home, managing communication is becoming increasingly complex.

单选题Department Store Magic For most of the 20th century Smithson"s was one of Britain"s most successful department stores, but by the mid-1990s, it had become dull. Still profitable, thanks largely to a series of successful advertising campaigns, but decidedly boring. The famous were careful not to be seen there, and its sales staff didn"t seem to have changed since the store opened in 1908. Worst of all, its customers were buying fewer and fewer of its own-brand products, the major part of its business, and showing a preference for more fashionable brands. But now all this has changed, thanks to Rowena Baker, who became Smithson"s first woman Chief Executive three years ago. Since then, while most major retailers in Britain have been losing money, Smithson"s profits have been rising steadily. When Baker started, a lot of improvements had just been made to the building, without having any effect on sales, and she took the bold decision to invite one of Europe"s most exciting interior designers to develop the fashion area, the heart of the store. This very quickly led to rising sales, even before the goods on display were changed. And as sales grew, so did profits. Baker had ambitious plans for the store from the start. "We"re playing a big game, to prove we"re up there with the leaders in our sector, and we have to make sure people get that message. Smithson"s had fallen behind the competition. It provided a traditional service targeted at middle-aged, middle-income customers, who"d been shopping there for years, and the customer base was gradually contracting. Our idea is to sell such an exciting variety of goods that everyone will want to come in, whether they plan to spend a little or a lot." Baker"s vision for the store is clear, but achieving it is far from simple. At first, many employees resisted her improvements because they just wouldn"t be persuaded that there was anything wrong with the way they"d always done things, even if they accepted that the store had to overtake its competitors. It took many long meetings, involving the entire workforce, to win their support. It helped when they realised that Baker was a very different kind of manager from the ones they had known. Baker"s staff policies contained more surprises. The uniform that had hardly changed since day one has now disappeared. Moreover, teenagers now get young shop assistants, and staff in the sports departments are themselves sports fans in trainers. As Baker explains, "How can you sell jeans if you"re wearing a black suit? Smithson"s has a new identity, and this needs to be made clear to the customers." She"s also given every sales assistant responsibility for ensuring customer satisfaction, even if it means occasionally breaking company rules in the hope that this will help company profits. Rowena Baker is proving successful, but the City"s big investors haven"t been persuaded. According to retail analyst, John Matthews, "Money had already been invested in refurbishment of the store and in fact that led to the boost in sales. She took the credit, but hadn"t done anything to achieve it. And in my view the company"s shareholders are not convinced. The fact is that unless she opens several more stores pretty soon, Smithson"s profits will start to fall because turnover of the existing store will inevitably start to decline."

单选题WhatwasSallyanxiouslylookingfor?

单选题·Choose the correct word A, B, C or D from below the passage to fill each gap.·For each question (19 - 33), mark one letter (A, B, C or D) on your Answer Sheet. Tile IBC Bank is one of the biggest financial institutions in the U.K. With its 900 branches and 68.000 employees, it has{{U}} {{U}} 1 {{/U}} {{/U}}a household name. Almost 4,000 of these employees{{U}} {{U}} 2 {{/U}} {{/U}}managerial or executive positions. The bank has an outstanding{{U}} {{U}} 3 {{/U}} {{/U}}of profitability, which has been achieved by introducing innovations at the same time as maintaining leadership of the{{U}} {{U}} 4 {{/U}} {{/U}}. The bank's comprehensive training programme concentrates on{{U}} {{U}} 5 {{/U}} {{/U}}the most important skills that graduates need in order to{{U}} {{U}} 6 {{/U}} {{/U}}early management responsibility. Trainees take responsibility for their own continuous self-development through visiting other branches and departments, and by{{U}} {{U}} 7 {{/U}} {{/U}}courses m management skills. They also receive training in order to increase their knowledge of the bank's{{U}} {{U}} 8 {{/U}} {{/U}}. The bank supports{{U}} {{U}} 9 {{/U}} {{/U}}of staff who wish to take professional examinations, and its Graduate Training program is{{U}} {{U}} 10 {{/U}} {{/U}}to the nationally recognized degree in management. Obviously the quality of its managers is of{{U}} {{U}} 11 {{/U}} {{/U}}importance to the bank's performance. It welcomes good graduates in any subject area,{{U}} {{U}} 12 {{/U}} {{/U}}they call demonstrate the ability to influence events, and have the potential to{{U}} {{U}} 13 {{/U}} {{/U}}both as leaders and as part of a team. Most graduate trainees join the retail banking division initially. Those starting on this program will soon have the{{U}} {{U}} 14 {{/U}} {{/U}}to work in other parts of the bank and can{{U}} {{U}} 15 {{/U}} {{/U}}a varied and flexible working life.

单选题Department Store MagicFor most of the 20th century Smithson's was one of Britain's most successful department stores, but by the mid-1990s, it had become dull. Still profitable, thanks largely to a series of successful advertising campaigns, but decidedly boring. The famous were careful not to be seen there, and its sales staff didn't seem to have changed since the store opened in 1908. Worst of all, its customers were buying fewer and fewer of its own brand products, the major part of its business, and showing a preference for more fashionable brands.But now all the has changed, thanks to Rowena Baker, who became Smithson's first woman Chief Executive three years ago. Since then, while most major retailers in Britain have been losing money, Smithson's profits have been rising steadily. When Baker started, a lot of improvements had just been make to the building, without having any effect on sales, and she took the bold decision to invite one of Europe's most exciting interior designers to develop the fashion area, the heart of the store. This very quickly led to rising sales, even before the goods on display were changed. And as sales grew, so did profits.Baker had ambitious plans for the store from the start, 'We're playing a big game, to prove we're up there with the leaders in our sector, and we have to make sure people get that message. Smithson's had fallen behind the competition. It provide a traditional service targeted at middle-aged, middle-income customers, who'd been shopping there for years, and the customer base was gradually contracting. Our idea is to sell such an exciting variety of goods that everyone will want to come in, whether they plan to spend a little or a lot. 'Baker's vision for the store is clear, but achieving it is far from simple. At first, many employees resisted her improvements because they just wouldn't be persuaded that there was anything wrong with the way they'd always done things, even if they accepted that the store had to overtake its competitors. It took many long meetings, involving the entire workforce, to win their support. It helped when they realised that Baker was a very different kind of manager from the ones they had known.Baker's staff policies contained more surprises. The uniform that had hardly changed since day one has now disappeared. Moreover, teenagers now get young shop assistants, and staff in the sports departments are themselves sports fans in trainers. As Baker explains, 'How can you see jeans if you're wearing a black suit? Smithson's has a new identity, and this needs to be made clear to the customers. 'She's also given every sales assistant responsibility for ensuring customer satisfaction, even if it means occasionally breaking company rules in the hope company profits.Rowena Baker is proving successful, but the City's big investors haven't been persuaded. According to retail analyst, John Matthews, 'Money had already been invested in refurbishment of the store and in fact that led to the boost in sales. She took the credit, but hadn't done anything to achieve it. And in my view the company's shareholders are not convinced. The fact is that unless she opens several more stores pretty soon, Smithson's profits will start to fall because turnover at the existing store will inevitably start to decline.'

单选题RichardWoodstartedtheinternetcompany,Bookstore,becausehefelt

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单选题InventoryInventory belongs to an important element of the cost of doing business in a large company. If a company is assembling cars, they must have a large number of parts in hand so that the assembly line does not stop because one part is missing. If cars are going down the assembly line and one person is supposed to fasten wheels on to the car, the whole line will stop if he runs out of fasteners. This means that several hundred men will be waiting while someone must find fasteners for the wheel. So there must be a sufficient number of parts of all sorts nearby in order to keep the car assembly line running smoothly.A large supply of spare parts is very expensive, so a company will try to keep its inventory as low as it can without finding it necessary to stop production for lack of a part.In a planned company, i.t was often difficult to secure spare parts and so many companies ordered many extra parts and kept large supplies of parts so that if a mistake was made in planning, they could continue to produce. This was known as just-in-case inventory.As an economy moves from s planned economy to a market economy, the-important thing for a business is to make money and not just produce. It's very expensive to keep large suppliers available just in case there is a delay in delivery. So increasingly, companies are moving to another system of inventory of spare parts as low as possible. This way they do not have to pay for parts used in production until just before they are paid for the finished product. This saves them much capital and is a much more efficient method of operating. The problem with this is that if a shipment is delayed or lost for some reason, the whole factory may have to stop because they don't have one little part. This is very expensive.Most modern industries try to keep inventory as low as possible, but when they adopt just-in-time inventory control, they try to keep at least some extra in stock for emergencies:

单选题CATSAGia Andina de Triconos (CATSA), a Bolivian joint venture of the U. S. Dresser Industries and local investors, which had based its investment (19) an allocation under the metalworking program, closed its doors after (20) to penetrate the Andean market after more than two years in operation.The prospect of (21) access to the Andean market, plus protection provided by a 55 percent "ad valorem" common outer tariff on bits sourced from outside the bloc, made the sales outlook seem (22) . However, CATSA's "monopoly" position in Ancom proved specious. (23) the plant went on stream in 1974, the company was never able to export a single drill bit to the Andean market, and its local sales were (24) a state-owned petroleum company. This market was clearly (25) , since the operation had been based on exporting the bulk of the plant's 200-unit-per-month capacity to the Andean area.CATSA could not penetrate the Ancom market for several reasons:Although Ancom (26) a 55 percent common outer tariff on third-country imports, some Ancom countries had previously (27) LAFTA (Latin American Free Trade Association) tariff concessions, which take precedence over the Ancom tariffs.Ancom members simply did not (28) the spirit of the metalworking agreement. After the installation of the CATSA facility, plants producing tricorne bits (29) in Peru and Venezuela. Under the metalworking program, participating (30) were committed to prohibiting new foreign investment in allocations of other Ancom countries. But on the question of new investment by local industry, the obligation was only not to encourage it, with no requirement to prevent it. (31) Venezuela, it has no commitment to limit local production or to honour the outer tariff, because it was not yet a member of Ancom when the metalworking agreement was signed and was thus not a (32) to the pact. Also, according to Bolivia, Colombia and Ecuador employed (33) obstacles to avoid applying the common outer tariff.The withdrawal of Chile from Ancom cost Bolivia a lucrative potential market, too.

单选题Dear Sally, I write this report to give a brief account of German economy. Please read through it and make any comment as you like. Thanks!Bob WHAT'S PUTTING A DAMPER ON GROWTH Recovery in Germany will remain halting through the year. The economy barely grew in the first quarter after two quarters of (19) , and while export-oriented businesses are making headway, domestic demand remains (20) The economy will struggle to grow 1% this year. Both consumer spending and business investment (21) in the first quarter, and neither is gaining (22) in the second. Retail sales in May fell for the second month in a row, as May unemployment posted the largest rise in five years. The jump resulted in (23) from new legislation, strike activity and holidays but it also (24) a large number of job losers and poorer (25) of finding a job. Economic growth won't be strong enough to improve the labor market significantly until next year. Business (26) is improving slowly. The closely watched (27) from the IFO institute dropped in June, and attitudes are mixed. Big exporters seem more (28) , but builders and retailers are more (29) On June 24, Germany's retail trade association (30) its sales forecast for this year. On the plus side, weak domestic demand and falling oil prices are (31) inflation and delaying the urgency for the European Central Bank to raise interest rates. The euro's 12% rise vs. the dollar since February is an additional inflation dampener. Eventually, rising exports will (32) capital spending, and consumers will benefit from rising pay -- helped by recent wage (33) -- along with low inflation and interest rates and planned tax cuts. But that is next year's story.