剑桥BEC高级真题第四辑TEST4.docx
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剑桥BEC高级真题第四辑TEST4.docx
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剑桥BEC高级真题第四辑TEST4
BEC真题第四辑高级Test4
READING1hour
PARTONEQuestions1-8
•Lookatthestatementsbelowandthefiveextractsfromcompanyreportsontheoppositepage.
•Whichextract(A,B,C,DorE)doeseachstatement(1-8)referto?
•Foreachstatement(1-8),markoneletter(A,B,C,DorE)onyourAnswerSheet.
•Youwillneedtousesomeoftheselettersmorethanonce.
•Thereisanexampleatthebeginning(0).
Example:
0Certainotherfirmsarecompetingwiththiscompanyforthefirsttime.
1Someofthiscompany'soutletswereaffectedbycompetitionfromitsownnew
outlets.
2Thiscompanyexpectsthenumberofcompaniesinitssectortobereduced.
3Notallofthiscompany'scompetitorsareincreasingtheirturnover.
4Thiscompanyhashadtoallowforcoveringalossmadeonaparticularcontract.
5Thiscompanyhaspaidoffthemoneyitowed.
6Itislikelythatthiscompanywillmakemoremoneyonreducedsalesrevenue.
7Someofthiscompany'soutletswillberequiredtochangetheirname.
8Thiscompanyhasdecidedagainstgoingaheadwithaplan.
A
COLEMAN’S
Aswaswidelyreported,wecloselyexaminedthepossibilityofmergingwithafood-distributionbusinessduringtheyear.However,whilstthestrategicrationaleforcombinationwassound,itbecameclearthatitwouldnotbeinourshareholders’bestintereststoproceedwiththedeal,withitsriskofincreasingdebt.Instead,weintendtoconcentrateonourcoreactivity.Nevertheless,themarketwithinwhichweoperateitfiercelycompetitive,andtheadventofnewentrantsiscreatingmarketconditionsinwhichcontinuedearningsgrowthwillbecomeincreasinglychallenging.
B
SHERIFF
Thisisamomentousperiodforthepharmaceuticalindustry.Againstthebackgroundofscientificandeconomicchange,weareseeinginevitablefurtherconsolidationofwhatremainsoneofthemostfragmentedofthegreatglobalindustries.Sheriffwillnotshrinkfromparticipatinginthisprocessifcircumstancesnecessitatesuchactionintheinterestsoffuturesuccess.However,today,theoverwhelmingpreoccupationofyourBoard,executivemanagementandstaffiswithmejobathand,whichistogrowmebusinessanddeliverthepromiseswehavemadeintermsoftuming
aroundourlossesofrecentyears.
C
BVL
Profitbeforetaxationwas£20m,incomparisonwiththe£32machievedinthepreviousyear.Thisdisappointingresultincludesaprovisionof£26mononeproject,duetocostsexceedingtheguaranteedmaximumpricequotedtotheclient.OneresultisthattheConstructionDivisionhasbeensettargetstoincreasethelevelofpartneringandfeework.Tumover,alreadystagnant,maydecline,butprofitsareexpectedtorecover.Inaddition,improvementswillbemadetothecontrolprocessesrelatingtotendering,andtothequalityofprojectmanagement.
D
MARTIN’S
Martin’shasdevelopedadistinctiveretailformatbasedonconvenientlocationsfortheshopper.Lastyear’smergerofMartin’sandHoylehasprovideduswiththeopportunitytobuildonourleadershipinthisneighbourhoodretailmarket.BuildingawarenessoftheMartirfsbrandcontinues,anditsvisibilityandfamiliaritywillgrowasweconvertHoylestoresintoMa.rtin’soperations.lnlinewithourvision,weaimtosetthepaceindevelopingnewshoppingservicesandchannelssuchashomeandofficeshopping.
E
TAYLOR’S
Despiteadownturninconsumerconfidenceduringtheperiod,wecontinuedtoexperiencepositivelike-for-likesalesgrowthforthefinancialyear,unlikemanyothersinourpeergroup.Encroachrnentbyournewopeningson38ofourestablishedrestaurantshada3%negativeeffectonlike-for-likesales,butthispercentageiscertaintobereduced.Sincetheyear-end,ourlike-for-likesalestrendcontinuestobepositive.Wehavechangedanetdebtpositionof£ll.2mthistimelastyeartonetcashof£1.7mthisyear.
Questions9-14
•Readthistextaboutbusinessschools.
•Choosethebestsentencefromtheoppositepagetofilleachofthegaps.
•Foreachgap(9-14),markoneletter(A-H)onyourAnswerSheet.
•Donotuseanylettermorethanonce.
•Thereisanexampleatthebeginning(0).
BUSINESSSCHOOLSHAVETHEEDGE
Businessschoolsarefacingincreasingcompetitionfromotherprovidersofmanagementtrainingsuchasconsultancies.Thekeytotheirfuturesuccessasmanager-trainersliesinthequalitybothoftheirresearchandoftheirpartnershipwiththebusinessworld.
Inthemostgeneralsense,beingagoodmanagerisamatterofbeingmarginallybetterthananddifferentfromyourcompetitors.(0)....H....Thesearetheelementswhichmakethedifferencebetweenasuccessfulandalesssuccessfulmanager.Thismarginaledgemaybebasedontalent,flairornaturalleadership.(9)............Andthisiswherebusinessschoolscomeintotheirown.Theeducationofmanagersshouldincludeon-the-jobtraining,workshops.conferencesandtrainingcourses.(10)............Traditionally,businessschoolshavethreemajordifferentiatingcharacteristics.First,theyofferacompletepackagerangingfrombasictoverysophisticatedtraining.Next,theyenablemanagerstobenetitfromtheresearchtheycarryout.(11)............
Incontrasttootherprovidersofmanagementeducation,businessschoolsoftenofferacompleteportfolioofeducationalprogrammes.MBAprogrammesexistalongsidegeneralmanagementprogrammes,aswellasspecialisedprogrammesforexperiencedmanagers.Forthebusinessschool,thishastheadvantagethatteacherscanusetheinformationtheygetfromoneprogrammetocross-fertilisewiththeirteachingonanother.(12)...........Thisintumofferssubstantialadvantagestothecompaniesconcerned.Itmeansthatmanagersandexecutivesatdifferentlevelsoftheorganisationcanbeconfrontedwiththesameconcepts,expressedinthesamelanguage.Inthisway,aclosepartnershipwithabusinessschoolenablesacompanytocreatesomecoherencebetweentheeducationandthedevelopmentofitsdifferentmanagementlevels.Peopleinthecompanywillcommunicatemoreeffectivelybecausetheyusethesameterminology.(13)............Inshort,thankstocontactwiththebusinessschool,morepeoplewithinthesamecompanywillbeembracingsimilarideas.
Obviously,thevalueoftheseconceptstothecompanyincreasesiftheyarestate-of-the-artconcepts.(14)............Onlythencanthecompanygenuinelyimproveitsmanagementpracticeandcompetitiveperformance.Workingwithabusinessschoolisformanycompaniesaprivilegedmethodofaccessingthelatestmanagementthinking,beforeitispublishedintrade
joumalsorpopularbooks.
Example:
0ABCDEFGH
ADifferentdepartmentswillbeableto
discussinternalissueswithaconsiderableamountofmutualunderstanding.
BYetgoodmanagementisalsoessentialtothecompetitiveperformanceofcompanies.
CAndnolessimportant,theyareabletopreserveanindependentoutlooktowardstheworldofbusiness.
DHowever,acquiredknowledgeofmanagementcanalsoprovidethisdecisiveadvantage.
EFortheminfacttobeso,abusiness
school'sleachingmustbesupportedbyfirst-classresearch.
FThusinsightsgainedfromtopexecutivesmightimpactpositivelyonwhattheycoverinagraduateprogramme.
GBusinessschoolshaveaspecialroletofulfilinthedeliveryofthisportfolio.
HHeorsheneedstobealittlefaster,abletospotopportunitiesearlierandreactmorequickly.
PARTTHREE
Question15-20
•Readthefollowingextractfromanarticleaboutbrandstretching(usinganexistingbrandnameonnewtypesofproducts)andthequestionsontheoppositepage.
•Foreachquestion(15-20),markoneletter(A,B,CorD)onyourAnswerSheet.
Amanufacturerofsportsshoesstartssellingconsumerelectronics.Asoftdrinklendsitsnametoarangeofurbanclothing.What’sgoingon?
Insimplertimes,youknewwhereyouwerewithbrands.Onebrandnamemeantgood-qualitysportsshoes,anotherasoftdrink.Noconfusion.Today,however,bigcompaniestrytoredefinebrandsasnotsornuchaproduct,moreawayoflife,andstretchthemintonewareas.Intheearlyyearsoftheconsumersociety,abrandnameonaboxsimplyidentifiedwhatwasinside.Peoplewerelookingforproductsthatwouldimprovetheirqualityoflife,andchosebrandsmostlikelytoachievethatpurpose.Butaspeopleinindustrialisednationsbecamemoreaffluentandfulfilledtheirbasicneeds,brandsacquiredotherattributes.Thefunctionalityoftheproductwasstillimportant,butpeoplealsostartedusingbrandstosaysomethingaboutthemselves,forexample,choosingabrandofcosmeticswhichwouldsuggestthattheyweresophisticatedjet-setters.Now,wehaveenteredathirdageofbranding,inwhichsomanycompaniesaremakingroughlythesameproductatroughlythesamepricethatfunctionalityrarelysucceedsasapointofdifferentiation.Instead,companiesaretryingtomaketheirbrandsstandoutbyemphasisingtheiremotionalaspects,hopingconsumerswillidentifywiththesetofvaluesthebrandrepresents.
Onedisadvantageofaproduct-basedbrandisthatiftheproductgoesoutoffashion,thebrandgoeswithit.Thisisaseriousconcernformanufacturersofbreakfastcereals,whoarestrugglingtocounterweakdemandfortheproductsthatbeartheirnames.Sofar,theirmarketingeffortsseemtobehavinglittleeffect.Theadvantageforemotionalbrandsisthatcompaniescantransfertheirbrandstrengthintootherareas,increasingrevenuesandreducingtheirexposuretothelifespanofasingleproduct.
Theelasticityofbrandsseemstoberelatedtotheirpositiononaspectrum
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