MBA真题卷阅读翻译.docx

MBA真题卷阅读翻译.docx

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MBA真题卷阅读翻译

2001年

ThestabilityoftheU.S.bankingsystemismaintainedbymeansofsupervisionandregulation,inspections,depositinsurance,andloanstotroubledbanks.Forover50years,theseprecautionshavepreventedbankingpanics.However,therehavebeensomeclosecalls.ThecollapseofContinentallllinoisBank&TrustedCompanyofChicagoin1984didnotbringdownthebankingsystem,butitcertainlyrattledsomewindows.

Inthelate1970s,ContinentalsoaredtoaleadershippositionamongMidwesternbanks.Partsofitsgrowthstrategywererisky,however.Itmademanyloansintheenergyfield,includingbillionthatittookoverfromPennSquareBandofOklahomaCity.Toobtainthefundsitneededtomaketheseloans,Continentalreliedheavilyonshorttermborrowingfromotherbanksandlarge,30daycertificatesofdeposit-"hotmoney",inbankingjargon.AtleastoneContinentalofficersawdangersignsandwroteawarningmemotohersuperiors,butthememowentunheeded.AlthoughtheComptrolleroftheCurrencyinspectedContinentalonaregularbasis,itfailedtoseelowseriousitsproblemsweregoingtobe.

PennSquareBankwasclosedbyregulatorsinJuly1982.Whenenergypricesbegantoslip,mostofthebillioninloansthatContinentalhadtakenoverfromthesmallerbanksturnedouttobehad.OtherloanstotroubledcompaniessuchChrysler,lnternationalHarvester,andBranifflookedquestionable.Seeingtheseproblem，"hotmoney"ownersbegantopulltheirfundsoutofContinental.

Bythespringof1984,arunonContinentalhadbegun.InMay,thebankhadtoborrow.5billionfromtheFedtoreplaceovernightfundsitbadlost.Butthiswasnotenough.TotrytostemtheoutflowofdepositsfromContinemtal,theFDICagreedtoguaranteenotjustthefirst,000ofeachdepositorsmoneybutallofit.Nevertheless,theruncontinued.

FederalregulatorstriedhardtofindasoundbankthatcouldtakeoverContinental-acommonwayofrescuingfailingbanks.ButContinentalwasjusttoobigforanyonetobuy.ByJuly,allhopeofaprivatesectorrescuewasdashed.Regulatorsfacedastarkchoice:

LetContinentalcollapse,ortakeitoverthemselves.

Lettingthebankfailseemedtoorisky.Itwasestimatedthatmorethan100otherbankshadplacedenoughfundsinContinentaltoputthematriskifContinentalfailed.Thus,onarainyThursdayattheendofJuly,theFDICineffectnationalizedContinentalIllinoisatacostof.5billion.Thiskeptthebanksdoorsopenandpreventedachainreaction.However,inallbutatechnicalsense,ContinentalhadbecomethebiggestbankfailureinU.S.history.

　　31.Inthespringof1984,Continentalexperienced------.

Aafastgrowthperiod.Bastabilityperiod

Carun.Danoilpricedecrease.

　　32.ByJuly,allhopeofaprivatesectorrescuewas------.

　　Adestroyed.Babsurd

　　Cdesperate.Ddamaged.

　　33.ThenationalizatinofContinental------.

　　Asavedit

　　Bmade"hotmoney"ownerscontinuetopulltheirfundsoutofContinental.

　　Calmostbroughtdownthebankingsystem

　　Dfiredmanyhighrankingofficers.

　　34.Bankingpanicsmaybepreventedbymeansof------.

　　Adepositinsurance.Bgrowthstrategy

　　Clongtermborrowing.Dwarningmemo.

　　Ifsustainablecompetitiveadvantagedependsonworkforceskills,Americanfirmshaveaproblem.HumanresourcemanagementisnottraditionallyseenascentraltothecompetitivesurvivalofthefirmintheUnitedStates.Skillacquisitionisconsideredasanindividualresponsibility.Laborissimplyanotherfactorofproductiontobehired-rentedatthelowestpossiblecost-muchasonebuysrawmaterialsorequipment.

　　Thelackofimportanceattachedtohumanresourcemanagementcanbeseeninthecorporationhierarchy.InanAmericanfirmthechieffinancialofficerisalmostalwayssecondincommand.Thepostofheadofhumanresourcemanagementsisusuallyaspecializedjob,offattheedgeofthecorporatehierarchy.TheexecutivewhoholdsitisneverconsultedonmajorstrategicdecisionsandhasnochancetomoveuptoChiefExecutiveOfficer（CEO）.Bywayofcontrast,inJapantheheadofhumanresourcemanagementiscentral-usuallythesecondmostimportantexecutive,aftertheCEO,inthefirmshierarchy.

　　WhileAmericanfirmsoftentalkaboutthevastamountsspentontrainingtheirworkforces,infacttheyinvestlessintheskilloftheiremployeesthandotheJapaneseorGermanfirms.Themoneytheydoinvestisalsomorehighlyconcentratedonprofessionalandmanagerialemployees.Andthelimitedinvestmentsthataremadeintrainingworkersarealsomuchmorenarrowlyfocusedonthespecificskillsnecessarytodothenextjobratherthanonthebasicbackgroundskillsthatmakeitpossibletoabsorbnewtechnologies.

　　Asaresult,problemsemergewhennewbreakthroughtechnologiesarrive.IfAmericanworkers,forexample,takemuchlongertolearnhowtooperatenewflexiblemanufacturingstationsthanworkersinGermany（astheydo）,theeffectivecostofthosestationsislowerinGermanythanitisintheUnitedStated.Moretimeisrequiredbeforeequipmentisupandrunningatcapacity,andtheneedforextensiveretraininggeneratescostsandcreatesbottlenecksthatlimitthespeedwithwhichnewequipmentcanbeemployed.Theresultisaslowerpaceoftechnologicalchange.Andintheendtheskillsofthebottomhalfofthepopulationaffectthewagesofthetophalf.Ifthebottomhalfcanteffectivelystafftheprocessesthathavetobeoperated,themanagementandprofessionaljobsthatgowiththeseprocesseswilldisappear.

　　35.WhichofthefollowingappliestothemanagementofhumanresourcesinAmericancompanies?

　　A.Theyhirepeopleatthelowestcostregardlessoftheirskills.

　　B.Theyseethegainingofskillsastheiremployeesownbusiness.

　　C.Theyattachmoreimportancetoworkersthantoequipment..

　　D.Theyonlyhireskilledworkersbecauseofkeencompetition.

　　36.WhatisthepositionoftheheadofhumanresourcemanagementinanAmericanfirm?

　　A.Heisoneofthemostimportantexecutivesinthefirm..

　　B.Hispostislikelytodisappearwhennewtechnologiesareintroduced.

　　C.Heisdirectlyunderthechieffinancialexecutive.

　　D.Hehasnoauthorityinmakingimportantdecisionsinthefirm..

　　37.ThemoneymostAmericanfirmsspendintrainingmainlygoesto----.

Aworkerswhocanoperatenewequipment

Btechnologicalandmanagerialstaff

　　Cworkerswholackbasicbackgroundskills

　　Dtopexecutives.

　　38.Whatisthemainideaofthepassage?

　　A.AmericanfirmsaredifferentfromJapaneseandGermanfirmsinhumanresourcemanagement.

　　B.Extensiveretrainingisindispensabletoeffectivehumanresourcemanagement.

　　C.Theheadofhumanresourcemanagementmustbeinthecentralpositioninafirmshierarchy.

　　D.ThehumanresourcemanagementstrategiesofAmericanfirmsaffecttheircompetitivecapacity.

　　Internetisavastnetworkofcomputersthatconnectsmanyoftheworldsbusinesses,institutions,andindividuals.Theinternet,whichmeansinterconnectednetworkofnetworks,linkstensofthousandsofsmallercomputernetworks.Thesenetworkstransmithugeamountsofinformationintheformofwords,images,andsounds.

TheInternetwasinformationonvirtuallyeverytopic.Networkuserscansearchthroughsourcesrangingfromvastdatabasestosmallelectronic"bulletinboards,"whereusersformdiscussiongroupsaroundcommoninterests.MuchoftheInternetstrafficconsistsofmessagessentfromonecomputerusertoanother.Thesemessagesarecalledelectronicmailore-mail.Internetusershaveelectronicaddressesthatallowthemtosendandreceivee-mail.Otherusesofthenetworkincludeobtainingnews,joiningelectronicdebates,andplayingelectronicgames.OnefeatureoftheInternet,knownastheWorldWideWeb,providesgraphics,audio,andvideotoenhancetheinformationinitsdocuments.Thesedocumentscoveravastnumberoftopics.

PeopleusuallyaccesstheInternetwithadevicecalledamodem.Modemsconnectcomputerstothenetworkthroughtelephonelines.MuchoftheInternetoperatesthroughworldwidetelephonenetworksoffiberopticcables.Thesecablescontainhairthinstrandsofglassthatcarrydataaspulsesoflight.Theycantransmitthousandsoftimesmoredatathanlocalphonelines,mostofwhichconsistofcopperwires.

　　ThehistoryoftheInternetbeganinthe1960’s.Atthattime,theAdvancedResearchProjectsAgency（ARPA）oftheUnitedStatesDepartmentofDefensedevelopedanetworkofcomputerscalledARPAnet.Originally,ARPAnetconnectedonlymilitaryandgovernmentcomputersystems.Itspurposewastomakethesesystemssecureintheeventofadisasterorwas.SoonafterthecreationofARPAnet,universitiesandotherinstitutionsdevelopedtheirowncomputernetworks.ThesenetworkseventuallyweremergedwithARPAnettoformtheInternet.Bythe1990’s,anyonewithacomputer,modem,andInternetsoftwarecouldlinkuptotheInternet.

Inthefuture,theInternetwillprobablygrowmoresophisticatedascomputertechnologybecomesmorepowerful.ManyexpertsbelievetheInternetmaybecomepartofalargernetworkcalledtheinformationsuperhighway.Thisnetwork,stillunderdevelopment,wouldlinkcomputerswithtelephonecompanies,cabletelevisionstations,andothercommunicationsystems.Peoplecouldbank,shop,watchTV,andperformmanyotheractivitiesthroughthenetwork.

　　39.Thispassageisaboutthe------oftheInternet.

　　Afuture.Bgeneralintroduction

Cuse.Dhistory.

　　40.WhichofthefollowingstatementsabouttheInternetistrue?

　　A.ARPAwasthefirstnetusedbyAmericanuniversitiesandinstitutions.

　　B.ThehistoryoftheInternetcanbetracedbacktofiftyyearsago.

　　C.ThepurposeoftheInternetistoprotecttheworldintheeventofw