1、 For each statement (1-8), mark one letter (A, B, C, D or E) on your Answer Sheet. You will need to use some of these letters more than once. There is an example at the beginning (0).Example:0 Certain other firms are competing with this company for the first time.1 Some of this companys outlets were
2、 affected by competition from its own newoutlets.2 This company expects the number of companies in its sector to be reduced.3 Not all of this companys competitors are increasing their turnover.4 This company has had to allow for covering a loss made on a particular contract.5 This company has paid o
3、ff the money it owed.6 It is likely that this company will make more money on reduced sales revenue.7 Some of this companys outlets will be required to change their name.8 This company has decided against going ahead with a plan.ACOLEMAN SAs was widely reported, we closely examined the possibility o
4、f merging with a food-distribution business during the year. However, whilst the strategic rationale for combination was sound, it became clear that it would not be in our shareholders best interests to proceed with the deal, with its risk of increasing debt. Instead, we intend to concentrate on our
5、 core activity. Nevertheless, the market within which we operate it fiercely competitive, and the advent of new entrants is creating market conditions in which continued earnings growth will become increasingly challenging.BSHERIFFThis is a momentous period for the pharmaceutical industry. Against t
6、he background of scientific and economic change, we are seeing inevitable further consolidation of what remains one of the most fragmented of the great global industries. Sheriff will not shrink from participating in this process if circumstances necessitate such action in the interests of future su
7、ccess. However, today, the overwhelming preoccupation of your Board, executive management and staff is with me job at hand, which is to grow me business and deliver the promises we have made in terms of tumingaround our losses of recent years.CBVLProfit before taxation was 20m, in comparison with th
8、e 32m achieved in the previous year. This disappointing result includes a provision of 26m on one project, due to costs exceeding the guaranteed maximum price quoted to the client. One result is that the Construction Division has been set targets to increase the level of partnering and fee work. Tum
9、over, already stagnant, may decline, but profits are expected to recover. In addition, improvements will be made to the control processes relating to tendering, and to the quality of project management.DMARTINSMartins has developed a distinctive retail format based on convenient locations for the sh
10、opper. Last years merger of Martins and Hoyle has provided us with the opportunity to build on our leadership in this neighbourhood retail market. Building awareness of the Martirfs brand continues, and its visibility and familiarity will grow as we convert Hoyle stores into Ma.rtins operations. ln
11、line with our vision, we aim to set the pace in developing new shopping services and channels such as home and office shopping.ETAYLORSDespite a downturn in consumer confidence during the period, we continued to experience positive like-for-like sales growth for the financial year, unlike many other
12、s in our peer group. Encroachrnent by our new openings on 38 of our established restaurants had a 3% negative effect on like-for-like sales, but this percentage is certain to be reduced. Since the year-end, our like-for-like sales trend continues to be positive. We have changed a net debt position o
13、f l l.2m this time last year to net cash of 1 .7m this year.Questions 9-14 Read this text about business schools. Choose the best sentence from the opposite page to fill each of the gaps. For each gap (9-14), mark one letter (A-H) on your Answer Sheet. Do not use any letter more than once.BUSINESS S
14、CHOOLS HAVE THE EDGEBusiness schools are facing increasing competition from other providers of management training such as consultancies. The key to their future success as manager-trainers lies in the quality both of their research and of their partnership with the business world.In the most genera
15、l sense, being a good manager is a matter of being marginally better than and different from your competitors. (0) .H. These are the elements which make the difference between a successful and a less successful manager. This marginal edge may be based on talent, flair or natural leadership. (9) . An
16、d this is where business schools come into their own. The education of managers should include on-the-job training, workshops. conferences and training courses. (10) . Traditionally, business schools have three major differentiating characteristics. First, they offer a complete package ranging from
17、basic to very sophisticated training. Next, they enable managers to benetit from the research they carry out. (11) .In contrast to other providers of management education, business schools often offer a complete portfolio of educational programmes. MBA programmes exist alongside general management p
18、rogrammes, as well as specialised programmes for experienced managers. For the business school, this has the advantage that teachers can use the information they get from one programme to cross-fertilise with their teaching on another. (12) . This in tum offers substantial advantages to the companie
19、s concerned. It means that managers and executives at different levels of the organisation can be confronted with the same concepts, expressed in the same language. In this way, a close partnership with a business school enables a company to create some coherence between the education and the develo
20、pment of its different management levels. People in the company will communicate more effectively because they use the same terminology. (13) . In short, thanks to contact with the business school, more people within the same company will be embracing similar ideas.Obviously, the value of these conc
21、epts to the company increases if they are state-of-the-art concepts. (14) . Only then can the company genuinely improve its management practice and competitive performance. Working with a business school is for many companies a privileged method of accessing the latest management thinking, before it
22、 is published in tradejoumals or popular books.Example:0 A B C D E F G HA Different departments will be able todiscuss internal issues with a considerable amount of mutual understanding.B Yet good management is also essential to the competitive performance of companies.C And no less important, they
23、are able to preserve an independent outlook towards the world of business.D However, acquired knowledge of management can also provide this decisive advantage.E For them in fact to be so, a businessschools leaching must be supported by first-class research.F Thus insights gained from top executives
24、might impact positively on what they cover in a graduate programme.G Business schools have a special role to fulfil in the delivery of this portfolio.H He or she needs to be a little faster, able to spot opportunities earlier and react more quickly.PART THREEQuestion 15-20 Read the following extract
25、 from an article about brand stretching (using an existing brand name on new types of products) and the questions on the opposite page. For each question (15-20), mark one letter (A, B, C or D) on your Answer Sheet.A manufacturer of sports shoes starts selling consumer electronics. A soft drink lend
26、s its name to a range of urban clothing. Whats going on? In simpler times, you knew where you were with brands. One brand name meant good-quality sports shoes, another a soft drink. No confusion. Today, however, big companies try to redefine brands as not so rnuch a product, more a way of life, and
27、stretch them into new areas. In the early years of the consumer society, a brand name on a box simply identified what was inside. People were looking for products that would improve their quality of life, and chose brands most likely to achieve that purpose. But as people in industrialised nations b
28、ecame more affluent and fulfilled their basic needs, brands acquired other attributes. The functionality of the product was still important, but people also started using brands to say something about themselves, for example, choosing a brand of cosmetics which would suggest that they were sophistic
29、ated jet-setters. Now, we have entered a third age of branding, in which so many companies are making roughly the same product at roughly the same price that functionality rarely succeeds as a point of differentiation. Instead, companies are trying to make their brands stand out by emphasising their
30、 emotional aspects, hoping consumers will identify with the set of values the brand represents.One disadvantage of a product-based brand is that if the product goes out of fashion, the brand goes with it. This is a serious concern for manufacturers of breakfast cereals, who are struggling to counter
31、 weak demand for the products that bear their names. So far, their marketing efforts seem to be having little effect. The advantage for emotional brands is that companies can transfer their brand strength into other areas, increasing revenues and reducing their exposure to the lifespan of a single product.The elasticity of brands seems to be related to their position on a spectrum
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