. Read these sentences and the following business index.
. Which advisor each sentence (1-7) describe?
. For each sentence mark one letter (A, B,C,D or E) on your Answer Sheet.
The company invests a large sum of money in high technology.
1. It is engaged in the expansion of a telecommunications line.
2. No other steel industries have such a high rating.
3. The company is the chief holder of a British company’s shares.
4. As much as forty million U. S. dollars are invested in Taiwan.
5. It has business transactions with an American company.
6. The company gets a very high interest rate from its stocks.
7. Agreements were signed between two companies about technological cooperation.
A. Telecom Asia Corporation Limited (Thailand )
-It serves as international advisor in connection with the debt and equity financing for a US $3 billion telephone line expansion project in Bangkok. (Current)
B. Singapore Telecom international Pte. Ltd. (Singapore)
- It acquires its 50/00 interest in Cambridge Holding Ltd.,the controlling shareholder of Cambridge Cable Ltd. of the U. K. (6/1992)
C. Pohang Iron 6 Steel Co.,Ltd. (Korea) .
In connection with its ratings with Standard & Poor’s and Moody’s investor Services. The company obtained the highest rating of any steel company in the world. (II/1991)
D. Goldstar Co.,Ltd. (Korea)
In its investment in,and technology agreements with,Zenith Electronics of the U. S. -the first transaction of this type in Korea. (2/1991 )
E. Concord Venture Capital Co., Ltd.(Taiwan)’
-Structured,marketed to investors and made a principal investment in the Fund with total equity of NT $ 940 million(US $ 40 million) to invest in Taiwanese high-technology venture capital opportunities. (I/1991)
1-5 C B D C E 6-8 E A
Read the text taken from an article about the development of international managers
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 .
There is an example at the beginning .(0)
Search for the “ worldly –wise” company executives
The quest for international managers is underway in virtually every industrialized economy , the search has been made urgent by the globalization of world markets and the growth in crossborder mergers and acquisitions. (0) Many firms report being so stretched that they simply do not have enough of the high-quality people they require to lead their their global expansion.
Other companies are having difficulties releasing experienced people from existing operations in order to lead new international ventures. There are indications that a shorftage of internationally skilled people may be an important constraint on firms’ international ambitions. (9) However, identifying the need for international managers is easier than developing them.
So what makes an international manager? Paul Evans, a professor at INSEAD, the European business school, does not believe that any particular nationality produces a more international manager. Neither does he believe that it’s a matter of having the ability to cope with a lifestyle that involves working in Madrid one day, London the next and Berlin the day after. (10) Rather, he believes that the secret of being a good international manger is being comfortable with managing diversity.
Ford of Europe, which has encouraged the development of international managers for more than 20 years, says that its managers are globally-minded before they become global operators. (11) a car that you buy in the UK, for example, is going to be the same car that sells in Germany, Finland and Portugal, so the people who are involved in the car’s development have to be aware of the market requirements in all those different countries.
Generally, it seems that the only effective way to develop international skills and perspectives is through direct international experience. (12) Such experiences open people’s minds to the fact that things are done differently lese where and encourages them to think in a wilder context..
Formulating effective strategies for developing a company’s management resource is a demanding exercise, with conflicting issues to be solved (13) Another dilemma is whether to use local managers or expatriates.
The recruitment and development of effective international managers requires considerable financial resources and can be hard to justify at budget meetings. (14) however , without them, companies will continue to find their expansion plans frustrated by a lack of internationally effective managers.
A from the moment they join the company, employees are faced with having to think internationally
B This can be through involvement in international task forces or through living and working abroad.
C Should , for example, only an elite few receive international experience in preparation for top jobs or should it be offered to a wider group?
D these problems mean that developing managers who think and operate globally is absolutely vital for companies operating in foreign markets.
E Language training , overseas visits and in-house management courses are all expensive to implement.
F Jet-setting between international operations merely creates a business equivalent of the over-packaged tourist
G Companies are now emphasizing the human skills involved in managing other people
H These trends are pushing companies’ existing management resources to the limit
9-10 D F11-14 A B C E
Questions 15 - 20
Read the following extract from a book on management and the questions on the opposite page .
For each question 15– 20,mark one letter (A, B, C or D ) on your Answer Sheet for the answer you choose
In the last few years, managers throughout industry have seen more changes than many of them could have expected to see in their entire working lives having to communicate information which often leads to feelings of insecurity has become a key activity. From being regarded as relatively unimportant in many companies , management employee communication has become a central corporate need.
Concordia International provides a good example of a company that has adjusted well to the changing needs for communication . since 1995 , Concordia has been turned inside-out and upside-down, to ensure that it is a marketing –led, customer-responsive business, one that looks outwards at customers and competitors, rather than inwards at its own processes and the way things were done in the past. In the last eight years, Concordia has reduced its workforce by more than 80.000 people - or 35% -on a voluntary basis, with further downsizing anticipated.
From being an engineering company, Concordia is now remaking itself as a service company. The role of employee communication in such a context is to build people’s self-confidence, to persuade them that, although it is inevitable that the changes will go ahead, they also bring with them new opportunities for employees. However, this is not an easy task. People tend to be skeptical of these claims and to feel that they are losing touch with the company they have worked for over many years. This is understandable, since many of the old certainties are being swept away , including the core activities of the company they work for. Above all , they have had to face up to the fact that they no longer have a job for life.
Research indicates that people respond to this predicament in a variety of ways. The bulk of employees fall into two main categories in terms of their response to the new situation: on the one hand there are the “ pragmatists” and on the other “ the highly anxious” the former see their job as a means to an end and have a relatively short-term perspective, with strong loyalty to their local term , rather than the company as a whole . the second category, usually the majority, may respond to threatened changes with a feeling of having been let down, and even feel anger at the company for what they see as changing the terms of their employment.
` The employee communication process needs to be capable of accurately directing its messages at a variety of employee groups and departments within the workforce . this is why middle managers and line managers are so key to communication. They are the people who know about the full rage of concerns among the workforce. The problem in the past was that this crucial area was often the responsibility of a separate, relatively isolated unit. Concordia puts responsibility for communication firmly on line managers. All their research points to the same conclusion: people prefer to get their information face-to-face from their line managers. That is the key relationship and where arguments and hearts and minds –are lost.
The general rule in company communication is to tell employees as much as you can as soon as you can. If you can’t provide details, then at least put the news in context and commit yourself to providing greater detail when it becomes available another rule of company communication is that there must be a fit between what the company is telling its employees and what it is telling its shareholders.
15: in the last eight years, Concordia has
A made over 80.000 employees reduncdant
B completed a period of downsizing
C reduced its workforce of 80.000 by 35%
D given 35% of departing employees voluntary redundancy
16 from Concordia’s point of view, the role of communication is to
A win employee support before going ahead with the changes
B change the company’s core activities.
C emphasise the positive aspects of the changes
D explain the need for the changes
17 what does research show about most employees’ response to change?
A they expect it to have a bad effect on the company
B they feel completely powerless
C they become less loyal
D they fell they have been treated unfairly
18 Concordia’s communication process mainly relies on
A printed communication
B departmental heads
C personal communication
D a separate, specialized unit
19 According to the writer, what is the guiding ;principle about giving information within an organization?
A Never make promises about future developments
B Give people an overall view at the earliest possible stage
C always include plenty of hard information
D Hold back until all the details can be provided
20 which of the following would be the most suitable title for the article?
A employee attitudes to company communication
B making company communication more effective
C Researching company commmucation
D Making employees feel less powerless
15 A 16-20 C D C B B