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NAME:______________________________ COMPANY: _________________________ DATE: ______________________________ SCORE: _____________________________ BUSINESS CLASS PROGRESS TEST (U1-U8) LEVEL: Advanc d!

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1. Nowadays, smartphones are _______________ expensive I think they are so overpriced. (BELIEVE !. I can ass"re yo", we on#y make ______________ s"perior prod"cts everythin$ is state o% the art techno#o$y. (&E'(NI')L *. &his candidate showed $reat ___________ %or the +o, I think he-s a shoe.in. (/0&EN& 1. '#a"de is a _____________ re#ia,#e person I can a#ways co"nt on him to $et the +o, done. (&(02034( 5. &hese too#s are extreme#y "se%"#, ____________ in an emer$ency sit"ation. (6/E'I)L 7. 8e need to consider this very serio"s iss"e in its _____________. (&0&)L 9. &here are ___________________ to every r"#e. (E:'E/& ;. (e is _______________ s"ccess%"# in his area o% expertise. ((I4( <. 6ome prod"cts are very innovative, ,"t they simp#y aren-t _____________. (=)2>E& 1?. )#tho"$h the meetin$ went on %or ho"rs, it was rather ___________________. (/20@3'& 11. ) so"nd re$"#atory %ramework is key to economic _______________. (@EVEL0/ 1!. &he %orces o% ________________ are %orcin$ more and more co"ntries to open their doors to %orei$n investment. (4L0B)L 1*. 8ine ________________ is hi$h in Arance and on the increase in other E"ropean co"ntries. ('0N63=E 11. 0"r _______________ %orce do",#ed when we took over o"r chie% competitor. (6ELL 15. &he market in which m"#tinationa# operate is characteriBed ,y ___________, acC"isitions and conso#idation. (=E24E 17. 0"r company has moved a## its %inancia# %"nctions to one __________ #ocation. ('EN&2E 19. 8e expect a## o"r _________________ activities to cost aro"nd ! mi##ion. (/20=0&E 1;. 8e m"st em,race____________ or perish. (INN0V)&E 1<. &he m"#tinationa#s are %aced with a ____________________ pro%ita,#e market. (/(EN0=EN0N !?. It a## ads "p to an ____________________ ,"oyant ,"siness. (E:&2)02@IN)2D

C"%&$ ' *+'( '( c",, c' &, &")+'+"n0 !1. 8e-ve a## come ______________ examp#es o% marketin$ mishaps. !!. 6evera# car man"%act"rers have r"n __________ pro,#ems on this %ront. !*. 8hen the company chan$ed the name, the sa#es shot _________. !1. 0n o% Aord-s new mode#s t"rned "p __________ the market as E'a#ienteF. !5. It-s very important %or m"#tinationa#s to carry ________ extensive research ,e%ore they #a"nch a new prod"ct. !7. 8e worked in association ___________ an N40 on this pro+ect. !9. &he company tried to dissociate itse#% _________ the peop#e invo#ved in the scanda#. !;. Brand mana$ers are _________ press"re to %ind ways o% ,oostin$ sa#es. !<. 'ons"mers wi## o%ten pay more _________ premi"m ,rands. *?. 8e sho"#d rea##y take a #ook ______ these %i$"res. *1. 6ettin$ per%ormance tar$ets and then eva#"atin$ achievements sho"#d provide a ,asis ___________ improved mana$ement. *!. @espite some worryin$ indicators in the %irst ha#% o% the year, expansion remained _________ track. **. =ost ana#ysts a$ree that oi# prices wi## remain hi$h in the near term _____ #east. *1. &he c"rrent crisis #ead _____ a sharp decrease in sa#es. *5. 8e prod"ced a series ______ eye.catchin$ ads %or o"r prod"cts. R *,+' ac( ) n' nc ! . 1+nn+n1 '( n * ) n' nc *+'( If0 2 & '( % an+n1 "- '( n * ) n' nc a)

c$") a) &"))+.$ '" '( % an+n1 "- '( ",+1+na$ ) n' nc 0 *7. I don-t have a re#ia,#e car, so I pro,a,#y won-t drive to Arance.

*9. 8ith this card yo" can $et a disco"nt %or most o% o"r prod"cts.

*;. Do" can ,orrow my #aptop %or the evenin$ as #on$ as yo" promise to ,rin$ it ,ack tomorrow.

*<. By "sin$ more e%%icient #i$ht.,"#,s, there co"#d ,e a 5G red"ction in e#ectricity cons"mption.

1?. I wasn-t promoted so I didn-t have to move to o"r new head o%%ice in =adrid.

11. Do"-## have to #eave the ho"se ,y 9.?? to catch the ;.*? train.

1!. I didn-t know yo" were a ve$etarian, otherwise I wo"#dn-t have cooked #am, %or dinner.

1*. I didn-t st"dy hard and that-s why I have s"ch a poor#y paid +o,.

11. I s#ept in yesterday so I missed my %#i$ht to Br"sse#s.

15. (e was #ate %or the meetin$ ,eca"se he ran o"t o% petro#.

C"%&$ ' *+'( '( c",, c' -",% "- raise, rise, arise. 17. &he chairman __________ the C"estion at the next meetin$. 19. 6ome "nexpected di%%ic"#ties have ______________. 1;. &he company-s t"rnover has _____________ steadi#y in recent years. 1<. In ,"siness, it is o%ten necessary to ____________ %inance %or new pro+ects. 5?. I wo"#d #ike to ___________ an important point here, i% I may. 51. 6he __________ to a senior position in a very short time. 5!. &he $overnment has ___________ interest rates a$ain. 5*. I hope this sit"ation wi## not _____________ a$ain. 51. 3nemp#oyment contin"es to _____________ steadi#y.

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MERGERS CAN BE SUCCESSFUL Mergers are always headline news. Some financial commentators even regard them as an indicator of the economic health of a nation. Which is strange when you consider that most mergers and acquisitions fail. The deals themselves go through, and regardless of the high costs, the bankers get paid. But then the e pected economies of scale prove elusive and there are clashes of corporate cultures. !mployees become nervous and less efficient as they worry about losing their "obs. #epending on whose research you believe, $% to &% per cent of acquisitions fail to fulfil the strategic ob"ective for which they were designed. 'iven all this, it is interesting to see a merger which is successful. (nd that is what seems to have happened when )romo and Truck (ds merged. !va *endel started )romo in +,,+, the same year )aul Watson founded Truck (ds. Both companies did the same thing- they ran poster campaigns on trucks for ma"or advertisers. .t was a new medium and both companies e panded quickly. .t looked so easy and profitable that lots of small operators came into the business / which worried both of them because they felt that these new companies did not really know what they were doing. This, they felt, could have a negative effect on all companies in this sector. So *endel and Watson formed a trade association to protect the reputation of their businesses. 01ut of all these companies that mushroomed up,0 says Watson, 0almost none have survived. They "ust didn0t offer a professional service.0 1nce they had the market largely to themselves, *endel and Watson competed in some situations and collaborated in others. Whenever one had more campaigns than they could handle, they would subcontract to the other. 2inally, *endel suggested that her company buy Truck (ds. .t helped that *endel and Watson had known and respected each other for years. They knew from the trade association that they had many business values in common. (nd they knew they would lose business opportunities if they did not get bigger. .n negotiations *endel and Watson were not afraid to tackle the problems that so many companies avoid. They agreed that, as )romo was the larger company as well as the acquirer, *endel would be the new boss and Watson her deputy. There was no nonsense about "oint leadership or everything staying the same. Turning two workforces into one is never easy. 01nce the merger had gone through, . was relieved that there had been no redundancies,0 says *endel. 0. hadn0t realised, though, how much loyalty there was to the Truck (ds brand. This impressed me but also worried me as we had wiped away the brand overnight. So . brought in lots of policies to make everyone feel part of the team and then . saw every employee individually to e plain the advantages of the merger for them.0 0Merger costs are high,0 says *endel. 0*egal e penses alone can wipe out any upside. But not this time. . didn0t think we0d cover our huge legal fees for a year, but we managed to do it in three months. .n fact, those costs made us push hard for new business.0

440 )ccordin$ to the %irst para$raph, what is one reason why mer$ers and acC"isitions o%ten %ai#H A B C D &he costs invo#ved are too hi$h. &he companies invo#ved have di%%erent attit"des to ,"siness. &he mer$er or acC"isition is not $iven a c#ear $oa#. 6ta%% #eave ,eca"se they %ee# their +o,s are not sec"re.

460 Lende# and 8atson tho"$ht that many o% the sma##er operators in the ind"stry A B C D #acked pro%essiona# standards. had expanded too C"ick#y. wanted to set "p a trade association. were makin$ excessive pro%its.

490 Be%ore the mer$er, Lende# and 8atson were aware that the two companies A B C D were a#ready ,e$innin$ to #ose ,"siness. had di%%erent stren$ths and weaknesses. were doin$ too m"ch s",contractin$. had simi#ar ideas a,o"t ,"siness.

480 @"rin$ ne$otiations, Lende# and 8atson decided that A B C D the two o% them co"#d not work to$ether. one person wo"#d ,e in char$e o% the new company. there wo"#d ,e no ma+or chan$es in the new company. the siBe o% /romo co"#d #ead to pro,#ems.

480 8hat did Lende# do a%ter the mer$er had ,een comp#etedH A B C D 6he ,e$an p"ttin$ sta%% in di%%erent teams. 6he re%"sed to make any sta%% red"ndant. 6he exp#ained to a## sta%% how the mer$er wo"#d ,ene%it them. 6he con$rat"#ated the sta%% on their #oya#ty to the new company.

670 8hat does Lende# say a,o"t the companyIs #e$a# costsH A B C D &hey were c#eared more C"ick#y than expected. &hey had to ,e sett#ed within a year. &hey were not so hi$h as she had expected. &hey were red"ced in ret"rn %or ear#y sett#ement.

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