MBA英语笔试.docx

1、MBA英语笔试1 工会组织代表工人的利益，它通过协议来保护和提高职工的待遇。A labor union represents workers and seeks to protect and promote their members interests through collective bargaining2在有工会的组织中，许多关键人事决策都受到这种协议规定的限制。有关协议一般对员工的招聘来源、雇用、提升、解雇以及培训、选拔等作出了规定和限制。In unionized organizations，many key personnel decisions are regulated by

2、 the terms of collective bargaining agreementsThese agreements usually define such things as recruitment sources；criteria for hiring，promotions，and layoffs；training eligibility；and disciplinary practices3对人力资源管理影响最大的环境约束来自ZF的法律和条例。No environmental constraint can match the influence of governmental l

3、aws and regulations4人力资源规划是管理当局为确保在适当的时候，为适当的职位配备适当数量和类型的工作人员，并使他们能够有效地完成促进组织实现总体目标任务的一个过程。Human resource planning is the process by which management ensures that it has the right number and kinds of people in the right places，and at the right times，who are capable of effectively and efficiently com

4、pleting those tasks that will help the organization achieve its overall objectives5人力资源规划过程可以归纳为三个步骤：(1)评价现有的人力资源；(2)预估将来人力资源的需求；(3)制定满足未来人力资源需要的行动方案。 Human resource planning can be condensed into three steps：(1)assessing current human resources；(2)assessing future human resource needs；(3)developing

5、 a program to meet future human resource needs6 管理首先要对现有人力资源的状况作一考察。这项工作通常可以开展人力资源调查的方式进行。Management begins by reviewing its current human resource statusThis is typically done by generating a human resource inventory7职务说明书说明各个员工能做些什么，怎么做，为什么要做。A job description is a written statement of what a jobh

6、older does，how its done，and why its done8. 未来人力资源需求是由组织的目标和战略决定的。Future human resource needs are determined by the organizations objectives and strategies9人力资源需求是组织的产品或服务需求状况的一种反映。Demand for human resources(employees)is a result of demand for the organizations products or services1 0基于对总营业额的估计，管理当局可

7、能争取为达到这一营业规模而配备相应数量和结构的人力资源。On the basic of its estimate of total revenue，management can attempt to establish the number and mix of human resources needed to reach these revenues11在对现有能力和未来需求作了全面评估以后，管理当局可以测算出人力资源(在数量和类型两方面)的短缺程度，并指出组织中将会出现超员配置的领域。After it has assessed both current capabilities and

8、future needs, management is able to estimate shortages-both in number and in typeand to highlight areas in which the organization will be overstaffed12管理者了解了他们现有的人事状况(是不是超员)以后，就可以着手对此做些事Once managers know their current personnel status(whether theyre understaffed or overstaffed)，they can begin to do

9、 something about it13如果组织中存有一个或多个职位空缺，管理当局可以根据职务分析得到的信息来指导招聘，即安置、确定和吸引有能力的申请者的活动过程。If one or more vacancies exist，management can use the information gathered through job analysis to guide them in recruitment-that is，the process of locating，identifying，and attracting capable applicants14如果人力资源规划中指明存在

10、超员，管理当局则要减少组织中的劳动力，这就是解聘If human resource planning indicates a surplus of employees，management may want to reduce the labor supply within the organizationThis activity is called decruitment15定岗的主要目的是减少新员工刚开始工作时常会感觉到的最初的焦虑，让新员工熟悉工作岗位、工作单位和整个组织，并促使员工由外来者向内部人的转换The major objectives of orientation are t

11、o reduce the initial anxiety all new employees feel as they begin a new job；to familiarize new employees with the job，the work unit，and the organization as a whole；and to facilitate the outsiderinsider transition16一项职务的要求变化了，员工的技能也要跟着变化租改进。As job demands change，employee skills have to be altered and

12、 updated17据估计，在美国，工商企业每年要投入510亿美元用于提高工人技能的正规课程和培训计划。It has been estimated，for instance，that USbusiness firms spend an astounding sum of $51 billion on formal courses and training programs to build workers skills财务管理篇1财务管理是关于财富的保值和增值的理论。Financial management is concerned with the maintenance and creat

13、ion of wealth2企业的目标是使股东财富最大化。The goal of the firm is maximization of shareholder weaIth3资本收益(或损失)是指除正常业务外企业出售资产的收益(或损失)。Capital gains (or losses)is gains(or losses)from the saIe of assets not bought or sold in the ordinary course of business4货币市场指所有为了短期债务工具的交易而设置的机构和程序。Money market refers to all ins

14、titutions and procedures that provide for transactions in shortterm debt instruments5资本市场指所有为了长期金融工具的交易而设置的机构和程序。The capital market refers to all institutions and procedures that provide for transactions in longterm financial instruments6实物资产是指有形资产，如房屋、设备和存货。Real assets are tangible assets like hous

15、es，equipment，and inventories7金融资产代表对其他经济单位未来付款的求偿权。普通股、优先股、债券、票据等都属于金融资产。Financial assets represent claims for future payment on other economic unitsCommon and preferred stocks，bonds，billsand notes all are types of financial assets8通常用三种基本财务报表来描述财务状况和公司业绩：资产负债表、损益表和现金流量表。Three basic financial statem

16、ents are commonly used to describe the financial condition and performance of the firm：the balance sheet，the income statement and the cash flow statement9财务比率分析有助于我们了解公司财务状况的好坏。Financial ratio analysis help US identify some of the financial strengths and weaknesses of a company.10公司资产的流动性通常定义为公司偿还到期

17、债务的能力。The liquidity of a business is defined as its ability to meet maturing debt obligations11财务管理中的预测是指估计公司未来的融资需求Forecasting in financial management is used to estimate a firms future financial needs12. 复利是指以上一期的利息加上本金为基数计算当期利息的方法。Compound interest occurs when interest paid on the investment duri

18、ng the first period is added to the principal and then，during the second period，interest is earned on this new sum.13现值指未来的一笔收入折合到现在的价值。Present value is the current value of a future payment14.期望收益来源于投资产生的预期现金流。The expected returns an investment generates come in the form of cash flows15投资的预期收益率是所有可

19、能的收益率的概率加权平均。重复技巧The expected rate of return is a weighted average of all the possible returns，weighted by the probability that each return will occur16投资者要求的收益率可以定义为吸引投资者购买或持有某种证券的最低收益率。The investors required rate of return can be defined as the minimum rate of return necessary to attract an invest

20、or to purchase or hold a security17风险是预期收益不能实现的可能性，可用标准差来度量。Risk for our purposes is the variability of returns and may be measured by the standard deviation18债券是由借债者发行，并承诺按期付给债券持有者预先约定的固定利息的一种长期票据。A bond is a type of debt or longterm promissory note，issued by the borrower，promising to pay its holde

21、r a predetermined and fixed amount of interest per year19公司清偿时，债权人对公司资产的追偿权要先于普通股股东及优先股股东。In the case of insolvency，claims of debt in general including bonds, are honored before those of both common stock and preferred stock20债券的价值等于投资者将来所收到的利息收入和本金以及票面溢值的现值之和。The value of a bond is the present valu

22、e both of future interest to be received and the par or maturity value of the bond21.优先股常常被人称为混合证券，因为它兼有普通股和债券的特点。Preferred stock is often referred to as a hybrid security because it has many characteristics of both common stock and bonds22普通股票是表明公司所有权的一种证书。Common stock is a certificate that indicat

23、es ownership in the corporation23回收期是指收回最初现金投入所需要的年数。The payback period is the number of years needed to recover the initial cash outlay24一项投资的净现值等于预期未来每年税后净现金流的现值减去项目初始投资支出。The net present value(NPV)of an investment proposal is equal to the present value of its annual net cash flows after taxes les

24、s the investments initial outlay25获利能力指数，又称收益费用比率，是指未来净现金流的现值与初始现金流出值的比率。The profitability index(PI)，or benefit-cost ratio，is the ratio of the present value of the future net cash flows to the initial out lay26内部收益率是指使项目未来净现金流量的现值与该项目初始投资支出值相等时的贴现率。The internal rate of return(IRR)is defined as the d

25、iscount rate that equates the present value of the projects future net cash flows with the projects initial cash outlay27资本加权平均成本由若干个单个融资成本加权平均而成，以每项融资在全部资本中所占的百分数为权重。The weighted average cost of capital is the average of the after-tax costs of each of the sources of capital used by a firm to financ

26、e a project where the weights reflect the proportion of total financing raised from each source28资本结构是指公司长期资本的组合结构。Capital structure is the mix of the longterm sources of funds used by the firm29目标资本结构组合是公司一定时期计划拥有的融资组合。Target capital structure mix is the mix of financing sources that the firm plans

27、 to maintain through time30红利支付率即现金红利占公司净收益的百分比。The dividend payout ratio indicates the amount of dividends paid relative to the companys earnings31公司的红利政策包含两个基本因素：红利支付率和红利的稳定性。A firms dividend policy includes two basic components：the dividend payout ratio and the stability of the dividends over tim

28、e32股票回购是指公司购买自己的股票，以使流通的股票数量减少。A stock repurchase(stock buyback)is when a firm repurchases its own stock，resulting in a reduction in the number of shares outstanding33股票红利和股票分割的应用是红利政策中的必要组成。An integral part of dividend policy is the use of stock dividends and stock splits34营运资本管理可以看作管理公司的流动性，包括流动资产

29、管理和流动负债管理。Working capital management involves managing the firms Iiquidity，which in turn involves managing the firms investment In current assets，and its use of current liabilities35营运资本管理中的风险一收益权衡就是在公司的流动性和盈利性之间进行权衡。The risk-return trade-off involved in managing the firms working capital involves a

30、 trade off between the firms liquidity and its profitability36公司现金管理的目标是使公司的支付风险降低到最低限度。A company wide cash management program must be concerned with minimizing the firms risk of insolvency.37支付风险是指公司无力按期偿还到期的各种债务。Insolvency describes the situation where the firm is unabIe to meet its maturing liabi

31、lities on time38库存管理包括对公司生产过程中使用的资产及公司生产出来用于销售的资产的控制。Inventory management involves the control of the assets that are used and produced to be sold in the normal course of the firms operations生产管理篇1 生产管理和经营管理这两个词所描述的是同类任务。二者都是涉及（企业对生产销售给顾客或者其他机构的商品或者服务所需要的资源的管理。）换主语化被动为主动Production management and ope

32、rations management describes the same set of tasksBoth are concerned with managing those resources of an enterprise that（ are required the goods or services to be sold to consumers or other organizations）2大多数企业所提供给人们的是产品和服务的混合体。Most organizations provide and sell a mixed productsservicesoffering 经营活动的主要职责就是提供产品的服务和生产。换主语The provisio