商務(wù)英語(yǔ)閱讀Unit10 banking 課后答案和新編劍橋商務(wù)英語(yǔ)(高級(jí))第三版

Chapter10TheAlchemistsofFinanceExercises1.Questionsonthetext1)What’sthemaindifferencebetweencommercialbanksandinvestmentbanks?Intoday'sbusinessenvironment,themainbusinessofcommercialbanksistocollectdepositsandmakeloans,whilethatofinvestmentbanksistounderwritestocksandbondsandadvisecompaniesonmergersandacquisitions.2)Whydoinvestmentbankstrytokeepquietabouttheirbigprofits?Investmentbankstrytokeepquietabouttheirbigprofitsfortwomajorreasons:first,theyareundermorescrutinybyregulatorsandinvestors;second,privateequityandhedgefundshaveovertakentheminraisingmoneyandmakingexcessivebets.3)Whatchangeshavetakenplaceinthefinancialmarketssincethe1980s?Themainchangessince1980shavebeentherapidgrowthoffinancialinstrumentswithunprecedentedbreadth,depthandrichness,broughtoutbytechnologyandinnovation.Examplesofthosefinancialinstrumentsarepublicandprivatedebtsecuritiesandderivatives.4)Whydobankersandregulatorsworryaboutapossiblecollapseofaninvestmentbank?Theyworryaboutapossiblecollapseofaninvestmentbankbecausesuchaneventwillhaveseriousimplicationsforthewholefinancialsystem,anditisvitaltoknowhowsuchinstitutionsevolve,howtheyhandlerisksandhowwellthoserisksarespreadaroundthefinancialsystem.5)Whichthreefactorscanexplainthehugeprofitforinvestmentbanks?Thosefactorsare:first,thealchemist'strickofturningdebt(mostlyleaden)intoderivatives(mostlyliquid);second,theemergenceofanewclassofleveragedclient(hedgefundsandprivateequity);third,seekingoutnewcapitalmarketsandclientsaroundtheworld.Meanwhile,inallthesepursuitsthebanksarenowusingtheirownmoney,todifferingdegrees.6)Whatdoestheexpression“thewildeast”referto?ThatexpressionreferstothenewmarketsemerginginEuropeandAsia.Theintroductionoftheeuroin1999andtherapidgrowthofeconomiesinthoseregionshaveattractedinvestmentbanks.7)WhatmakesLondonanimpressiverivaltoNewYorkasaglobalfinancialcenter?LondonhasbecomeanimpressiverivaltoNewYorkasaglobalfinancialcenterbecause:first,Londontradesawiderangeofassetsandisregulatedonthespot;second,LondonisahubforEuropeandcontinentEuropeancountriescanraisecapitalthere;third,LondonisalsoregardedasaspringboardforemergingmarketssuchasChinaandRussia.8)Howdoinvestmentbanksmanagetherisks?Investmentbankstrytofindthemosttalentedpeopletohandletheintricateassets;theymeasurethecorrelationsbetweendifferentfinancialinstrumentsinanattempttospreadrisk;theyinvesthundredsofmillionsofdollarsayearintechnologiestomeasureandstress-testrisks;theyalsotrytoboosttheirrisk-weightedcapital.9)Accordingtothetext,what’stherelationshipbetweenrevenueandriskinfinance?Therelationshipbetweenrevenueandriskisfundamentalinfinance.Risk-takingisawardedbypossiblehighrevenue.Lowriskoftenmeanslessrevenue.However,inordertogainmorerevenue,youneedtotakemorerisks.Youshouldcarefullycalculatetheriskandbalanceitagainstrevenuebeforehand,oryouwillpayahighpriceforfoolishinvestmentbet.10)Whichoneismoreimportanttothegrowthofthefinanceindustry,innovationorregulation?Basedonthetext,bothinnovationandregulationarevitaltothehealthygrowthofthefinanceindustry.Withoutinnovation,investorshavefewerplacestogainreturnsontheirmoneyandthoseseekingmoneywouldhavemuchmoredifficultiesinobtainingit.Thusinnovationbooststherapidgrowthoffinanceindustryandbringsbenefitstomorepeoplebothindevelopedcountriesanddevelopingcountries.However,innovationwithoutproperregulation,suchasthesecuritiesthatnooneknowshowtoexactlymeasuretheirrisk,couldleadthegrowthofthefinanceindustrytoadisastrousend.2.Fillineachblankofthefollowingsentenceswithoneofthephrasesinthelistgivenbelow:1)Thegovernmenthastakenmanymeasurestobringdownthepricesofoil.2)Employeesareaskedtokeepquietabouttheiryear-endbonus.3)Regulatorsdemandthemonopolycompanytosplitintosmallerentities.4)It’sreportedthatChinaTelecomplanstospinoffitsnetworkservicesunitinHK.5)Thetraffichadseizedupformilesbecauseoftheaccident.6)Accordingtothoserepresentatives,newforcesareatworkintherefiningindustry.7)Weshallneverknowhowshemanagedtoacquireherpromotion;thereisnowaytoaccountforit.8)AnationwidelawaimedatstampingoutpassivesmokinginpublicspacesinSwitzerlandcameintoforceonSaturday.9)Innovationswillbringaboutdramaticchangesinthisindustrialsector.10)Iwouldsaythat,onbalance,ithasn'tbeenabadyear.3.MatchthetermsincolumnAwiththeexplanationsincolumnB:AB1)liquiditycrisisa)abankthatprovidescheckingaccounts,savingsaccounts,andmoneymarketaccountsandthatacceptstimedeposits.62)leveragedbuy-outthepublicforthefirsttime.53)creditcrunchb)acompanyissuescommonstockorsharestoc)thesituationinwhichabusinessexperiencesalackofcashrequiredtogrowthebusiness,payforday-to-dayoperations,ormeetitsdebtobligationswhentheyaredue,causingittodefault.14)over-the-countersecuritiesd)theacquisitionofanothercompanyusingasignificantamountofborrowedmoney(bondsorloans)tomeetthecostofacquisition.25)initialpublicofferinge)afinancialinstitutionthatassistsindividuals,corporationsandgovernmentsinraisingcapitalbyunderwritingand/oractingastheclient'sagentintheissuanceofsecurities.86)commercialbankf)anaggressivelymanagedportfolioofinvestmentsthatusesadvancedinvestmentstrategiessuchasleveraged,long,shortandderivativepositionsinbothdomesticandinternationalmarketswiththegoalofgeneratinghighreturns.97)stresstestg)asharpincreaseintheinterestratesandastrongdecreaseinallocatedcredits.38)investmentbankh)aprocessthatmeasureswhetheroneinstitutionhasadequatecapitaland/orassetstorespondeffectivelytovarious,adversescenariosusuallypresentedbyacomputerprogram.79)hedgefundi)securitiestradedinsomecontextotherthanonaformalexchangesuchastheNYSE,etc.410)riskmanagementj)theidentification,assessment,andprioritizationofrisksfollowedbycoordinatedandeconomicalapplicationofresourcestominimize,monitor,andcontroltheprobabilityand/orimpactofunfortunateeventsortomaximizetherealizationofopportunities.104.TranslatethefollowingintoChinese：在去年信貸危機(jī)爆發(fā)的時(shí)候，聯(lián)邦的監(jiān)管者們向國(guó)內(nèi)的各主要金融機(jī)構(gòu)注入了數(shù)以百億計(jì)美元，而他們這么做的原因在于這些銀行是如此之大以至于官員們擔(dān)心它們的破產(chǎn)將會(huì)拖垮整個(gè)金融體系。如今，這些銀行中最大的幾家甚至變得更大了。這場(chǎng)危機(jī)對(duì)控制著美國(guó)金融的不少巨頭們而言很可能是件好事。由聯(lián)邦政府安排的一系列兼并行動(dòng)將陷入困境的銀行平安地并入了更為安全穩(wěn)定的企業(yè)中。這場(chǎng)危機(jī)還讓幸存者們得以亂中重生，市場(chǎng)地位得到鞏固，對(duì)消費(fèi)者信貸擁有更大的控制權(quán)，并獲得更多的盈利空間。如今，這個(gè)國(guó)家每十美元的儲(chǔ)蓄中就有超過(guò)一美元是由摩根大通銀行（J.P.MorganChase）掌控的，該銀行則由華爾街的一些老字號(hào)機(jī)構(gòu)組成。美國(guó)銀行（BankofAmerica）和西海岸最大的銀行富國(guó)銀行（WellsFargo）的情況也是如此，而前者在收購(gòu)美林證券（MerrillLynch）時(shí)遭受重大損失，又因金融危機(jī)被政府部分收購(gòu)。聯(lián)邦政府?dāng)?shù)據(jù)顯示，現(xiàn)在每?jī)晒P抵押貸款中就有一筆和每三張信用卡中就有兩張是由以下銀行發(fā)放的：上述三家銀行，再加上由政府救助并擁有的花旗銀行（Citigroup）。在去年九月金融體系幾乎完全崩潰一年后，聯(lián)邦政府的應(yīng)對(duì)措施重新界定了美國(guó)人獲得抵押貸款、學(xué)生貸款和其他信貸的方式，并高調(diào)主導(dǎo)了一場(chǎng)關(guān)于高管薪酬的全國(guó)性討論。不過(guò)，在這場(chǎng)危機(jī)帶來(lái)的所有后果中最讓高層監(jiān)管者們不安的是那些超大型銀行卻變得更大，而且它們之間的聯(lián)系更為緊密。監(jiān)管者們有兩方面的擔(dān)憂：一是消費(fèi)者對(duì)服務(wù)的選擇余地最終會(huì)越來(lái)越小，二是銀行會(huì)認(rèn)為如果事情弄砸了它們總會(huì)得到政府的支持。這一假設(shè)的保證意味著如果大公司認(rèn)為聯(lián)邦官員總會(huì)替它們收拾爛攤子的話，它們就會(huì)重操舊業(yè)，再次從事那些曾引起此次危機(jī)的高風(fēng)險(xiǎn)行為。這個(gè)名為“道德風(fēng)險(xiǎn)”的問(wèn)題可以在一定程度上說(shuō)明政府官員為何要嚴(yán)密監(jiān)控那些獲得了救助的銀行監(jiān)督其高管的薪酬并審查其重要部門或分支機(jī)構(gòu)的出售。除此外，此問(wèn)題還促使奧巴馬政府采取措施建立新的監(jiān)管體系以防新危機(jī)的再現(xiàn)。此項(xiàng)計(jì)劃還對(duì)大型金融機(jī)構(gòu)設(shè)置了更高的資本標(biāo)準(zhǔn)，并授權(quán)政府可以接管各類陷入困境的金融機(jī)構(gòu)以便逐步而有序地停止其業(yè)務(wù)。5.Fillineachofthefollowinggapswithoneofthesentencesgivenbelow:1)Yetinvestmentbankshaverecentlychangedoutofallrecognition.2)Iftheydecidedthepropertywasabargain.3)Inshort,investmentbankinghasmigratedfromanagencymodeltowardsaprincipalone.4)Itismakingbiggerbetswithitsowncapital,too.5)Themainengineoftransformationhasbeencompetition.6)Othershavegonefornichemarkets.SupplementaryReadingTheSecret'sOut:CanSwissBankingAdapttoScrutiny?1.Accordingtothearticle,what’sthekeytothesuccessofSwissbanks？A.Longhistory.B.Goodlocations.C.Reputationfordiscretion.D.Servicetoreducetax.2.WhichoneofthefollowingstatementsaboutBradleyBirkenfeldisNOTtrue?A.HehasworkedinGeneva.B.Heisjailedforhiswrongdoing.C.HewasforcedtogivesomeconfidentialdocumentstoU.S.officials.D.HewasaformerbankerofUBS.3.Accordingtothearticle,itismainly__________thatbuiltSwitzerland’swealth.A.speciallocalfoodB.well-developedtourismindustriesC.strictgovernmentadministrationandmanagementD.thebankingindustry4.AllofthefollowingstatementsarefeaturesofSwissbanksexcept_________.A.Mostofthemareprivatebanks.B.Theytrytogainasmanyregularclientsaspossible.C.Theypreferwealthypeople.D.Theyusuallyhavemanyforeignclients.5.AfterachangeinSwisslawpermittedUBStogiveU.S.officialsdetailsof4,450American-heldaccounts,_________.A.U.S.officialsstoppedtheirinvestigation.B.noactionshavebeentakenagainstUBS.C.manySwissfeltthattheywereoffended.D.UBScloseditsU.S.unit.6.Accordingtothearticle,allofthefollowingcountrieshaveinitiatedtaxinvestigationsbasedoninformationfromSwissbanksorbankslocatedinSwitzerlandexcept__________.A.RussiaB.FranceC.ItalyD.Germany7.WhydidBirkenfeldwenttoplaceslikeCentreCourtatWimbledonandthefilmfestivalsatCannesandBangkok?A.Helikesportsgames.B.Helikegoodfoodandtraveling.C.Heisafanoffilmstars.D.Hewenttheretolookforwealthypeople.8.Afterthetaxscandal,UBShastakenthefollowingactionsexcept__________.A.closingoneofitsunitB.expandinginnewmarketsC.denyinganywrongdoingD.developingpartnershipwithFormulaOne9.TheattitudeofSwitzerlandtowardactionstakenbyothercountrieswithregardtoitsbankscanbedescribedas__________.A.indifferentB.cooperativeC.evasiveD.negative10.Fromthearticle,itcanbeinferredthatSwissbanksarelikelyto__________.A.adaptthemselvestomorepublicscrutinyB.keeptheirtraditionofsecrecyunchangedC.pulloutoftheU.S.marketD.completelylosetheircompetitionadvantageoverotherEuropeanbanksGrowingthecompanyPartsofacompany1Doyouthinkthisquotationistrueallbusiness?‘Ithinkthatourfundamentalbeliefisthatforusgrowthisawayoflifeandwehavetogrowatalltimes’.MukeshAmbani,chairmanofRelianceIndustries2Readthisentryfromacompanywebsiteandusethesewordstolabelthedigram.SubsidiaryheadquarterssalesofficesWarehouseR&DdivisionmainplanWearebasedinLaDefense,thebusinessdistrictofPairs,andnewproductsaredevelopednearbyatourlabsinStDense.OurprincipalmanufacturingfacilityisjustoutsideLilleandproductsgofromtheretobeacentaldistributionpointatCompiegne.ThreesalesagenciescoverthevariousregionsofFrancewithinternationalofficesinFrankfurt,MilanandMadrid.TheLondonofficesisrunbyourUKsubsidiary.3Whatisthediffidencebetweenthefollowingwordsandphrases?1asalesofficeandasubsidiary2awarehouseandaplant3theheadquartersandadivisionGrowthStrategy4Findasynonymintheboxofeachoftheunderlinedwords.GopublicselloffsetupgooutofbusinessexpandTakeovermakeredundantshutdown1WeacquiredEverforceLtdin2005.2Ourtargetistogrowthebusinessby15%eachyear.3Wecreatedasubsidiarytosellafter-salesservice.4ThecompanywillbelistedontheStockExchangenextyear.5Theywentbankruptlastyear.6Welaid300employeesoffinJune.7Afteralotofdiscussionwedecidedtoclosedtheplant.8Wehavedivestedoursharesinthelogisticcompany.5Whatisthediffidencebetweenthefollowingexpressions?1Layingpeopleoffandfiringthem2takingoveracompanyandmergingwithit3organicgrowthandnon-organicgrowth6SAPandOraclearetheworld’sleadingcompaniesinprovidingthesoftwaresolutionsforbusiness.Buttheirbusinessstrategiesareverydiffident.ReadthetextaboutSAP’Sgrowthstrategy.Choosethebestsentencesfromthelist(A-H)belowthecompleteeachgap(1-6).Donotuseanylettermorethanonce.SAPcompeteswith‘organicgrowth’Howdoyoustayatthetopoftheheapinthebusinesssoftwaregame?Ifyou’reSAP,youdoitthrough‘organicgrowth’,notblockbusteracquisitions.ThatistheworldfromSAPCEOHenningKagermann.(0)HThesecond-beststrategyisacquisition:Kagermannsaid.‘Thebestistheorganicgrowth.Wearenotjustdoingtheorganicgrowthbecausewehavenootherchoice.ThecommentisaimedsquarelyatrivalOracleCorp;whichspentnearly$20billionbetween2004and2006expandingitscoredatabasebusinessintotheSAP-dominatedbusinessapplicationsmarket.(1)marketleader,’hesaid.’It’sonsurprisethatadistantnumber-twoplayerwantstocatchu.’.‘WearetheSAPwassetupin1972byfiveformerIBMemployees.(2).Althoughithasagrowingnumberofsubsidiary,therearecomplementstoitsmainactivities,asShaiAgassi,president’softhecompany’sProductsandtechnologyGroupexplain,atthesametimehavingadirectdigatOracle.Thekeydiffidencebetweenthetwocompanies,hesays,liesinOracle’stendencyto‘a(chǎn)cquireanindustrysolutionthatisattheheart’.‘whenwedoanacquisition,it’tattheedgeofthesolutions.(3)ofit.’OracleisbuyinghalfbodypartsandtryingtomakeabodyoutInfact,AgassiexpectsSPAtogrowfasterthantherestoftheindustrythisyear-15%to17%insalesofnewsoftwarelicences-throughinternalinnovationandsmall-scaleacquisition.(4).SAPusedtoconcentrateonlargebusinesscustomers,butincreasinglypursuingsalesinthemarket,astrategythatbeganin2000.(5).ThecompanyexceptstofinishdevelopmentofthemySAPsuitewithinthenextfouryears,aswellasitsEnterpriseServicesAchitecture(ESA).ESAisbasicallyaplatformthatwillallowSAPtoprovideconsistentbusinessservicesaroundit,inmuchthesamewayasMicrosofthasbuiltapplicationsarounditssuccessfuloperatingsystems.Amongthecompany’sothergoalsisthedevelopmentofhundredsofadditionalservicesforthemySAPsuite,aso-called‘ecosystems’ofsupportivetechnologies.‘Businessinthefutureisnotbusinessinanenterprise,‘Kagermannsays.’It’sbusinessinanecosystem.(6).Wetrytoinviteotherswithgreatideastoinnovateontheplatform.’ExamSuccessAInfact,itexpectssalestocompanieswithfewerthan25,000employeestoaccountfornearlyhalfSAP’stotalsoftwaremakesurethatthephraseyouchoosefitsgrammaticallyandinmeaning,bothwiththesentencebeforeandthesentenceafter.Readthewholetextbacktoyourselfatsalesthisyear.BTheyrecentlyannouncedtheyhadpurchasedVirsaSystem,aprivatelyheldsupplierofregulatorycompliancesoftware.CYoujustcan’tdoeverythingyourselfifyouwanttoremainCompetitive.DCompetitioninthemarketisfierceandonlythebigplayerswillsurvive.theend.ESincethen,ithasevolvedfromasmall,regionalenterpriseintotheglobalmarketleaderinERPsoftware,employingmorethan34,000people.FKagermannwasunimpressedwithOracle’sappetiteforbig,Headline-grabbingacquisition(PeopleSoftSiebelSystem).GThatisdifferentfrombuyinghalfofaheart.HHemadethecommentswhilehewastalkingwithreportersLastweekduringhiscompany’sannualDeveloperKickoffMeetinginBurlingame,CA.7SummarisethegrowthstrategiesofSAPandOracle.WhatisthekeytoSAP’slonger-termstrategy?Pasttenses1StudytheseextractsfromthetextaboutSAPonpage17.Nameeachunderlinetenses(pastsimple,pastcontinuous,pastperfect,presentperfectorusedto)Saywhatyouknowabouteachtense’suseandwhyyouthinkitisusedhere.1Hemadethecommentswhilehewastalkingwithreporterslastweek.2SAPwassetupin1972byfineformerIBMemployees.3Sincethen,ithasevolvedfromasmall,regionalenterpriseintotheglobalmarketleader.4TheyrecentlyannouncedtheyhadpurchasedVirsaSystem.5SAPusedtoconcentrateonlargebusinesscustomers,butisincreasinglypursuingsalesinthemidmarket.6it’sstrategythatbeganin2000.2Youreceivethisinternalemail.Followtheinstructionit.HiDeniseBelowistheshortcompanyhistoryI’vewrittenforthe‘Aboutus’entryontheEnglishpageofthenewwebsite.Ithinkit’sgenerallyOKbutI’msounconfidentaboutmyuseoftensesinEnglishthatI’vejustlefttheverbsintheinfinitive!Canyouputthemintherightformandsenditback?Thanksandsorryforbeingsouseless!BrigitteThisistheunusualofRaincoatSoftware,acompanythat(1)hobbyofoneman,HansMeier.(come)intobeingaccidentallybecauseoftheIn1998Hans(2)(work)asacomputerprogrammerforalargebankinZurich.Buthe(3)(be)restless.(return)homeand,justforfun,(5)(hack)intoofficialwebsitesonhispersonalcomputer(notthebank’s,ofcourse!).Thedayafterhe(6)(hack)ontoaparticularlysensitiveUSgovernmentwebsite,he(7)(receive)anemailfromthem.Fearingthatwouldtheendofhiscareerasahack(open)it.It(9)(be)arequestfromtheUSgovernment,askingifhe(10)Eacheveninghe(4)atthebank,he(8)(want)ajobasasecurityadvisor.Ratherthantakingajobasagovernmentemployee,HansMeier(11)(see)theopportunitytomakea(be)born.successfulbusinessoutofacomputersecurityprotection.RaincoatSoftware(12)Sincethen,thecompany(13)(employ)over50‘securityexpert’-inotherwords,peoplewriteasimilar(help)over300largecompaniesandgovernmentdepartmentsandarebackgroundtoourfounder.We(14)nowa$100millionayearbusiness.ButdidtheUSgovernmentthinkit(15)(take)ariskbyemployingHansMeierallthoseyearsago?Theanswerthey(16)(give)thenisstillthecompany’smottotoday:’Bettersafethansorry’.Writeaboutthepast3writeashortpiece(100wordsapprox)aboutaturningpointinyourlife,workorstudies:amomentwhenyoudecidetopursueadifferentroutefromtheoneyouhaduptothatpoint.Usethefollowingtohelpyou.1Whatyouweredoingbeforethat?2Whathappentochangeyourlife/3Whathappennext?4Whathappenswhencompaniesmergeoracquireothercompanies?lookatthetablebelowandmakenotes.OpportunitiesthreatsEmployeesShareholdersCustomersSuppliers5InDecember2009Oracle,theworld'ssecondlargestbusinesssoftwareapplicationsprovider,tookoverPeopleSoft,thethirdlargest.ReadtheletterthattheCEOofPeopleSoft,DaveDuffield,wrotetohisemployees.1Doeshethinkthetakeoverwillbenefitemployeesornot?2Whichoftheseadjectivesbestdescribeshisfeelingsaboutthetakeover?bitter/resigned/angryThisisasaddayforme,andI'msure;anequallysaddayforyou.ItisnowclearthatOraclewillacquireourcompany.Overthepastfewweeks,ourindependentdirectorsmetwithindividualstockholderstogettheirviews.WeweretoldduringtheseconversationsthattheybelieveOracle's$24wasn'tadequateanddidnotreflectpeopleSoft'srealvalue.Itbecomecleartousthatthevastmajorityofourstockholderswouldaccept$26.50andOraclewaswillingtopayforit.Youshouldknow,andIhopeyouwouldexpect,thatIamdeeplysaddenedbythisoutcome.Wehavecomesofarundersuchtryingcircumstancesoverthepasteighteenmonths,andespeciallythepasttwoandahall'months.PeopleSofthadgainedsignificantmomentuminallareasofourcompany,includingwithcustomers,prospects,andinthefinancialcommunity.Overthenextfewweeks,wewillbeworkingwithOracletoensurethatyougetanswerstoasmanyquestionsaspossiblethatyouhave.IbelievesomeofyouwillfindinterestingopportunitiesatOracle,otherswilltakeyourtalentsandworkelsewheretheareathatyoulive,whileanothergroupmayhavedifficultiesfindingrewardingjobexperiences.ItistothislastgroupthatIoffermysincerestapologiesfornotfiguringoutadifferentconclusiontoour18-monthsaga.Iknowitislittlecomfort,butIamextraordinarilyproudofwhatwehaveaccomplishedoverthepast17一plusyears,andlongerinthecaseofJDEdwards.AndIamevenprouderofyouforyourperseveranceandteamworkoverthepasteighteenmonths.Imakeafinalrequest.Andthatistocontinueourworkwithourheadsheldhigh.Whetherit'sservingcustomers,buildingproductsorworkingoninternaloperations,1'eopleSoftandthepeopleatpeopleSofthavebuilttheirreputationasacompanywithclass.Sincerely,DaveThepeoplesofttakeover12.1Listentotwoaccountsofthetakeoverbyacommentatorandanindustryanalyst,bothclosetothetakeover.Whatarethemaindifferencesintheworkingenvironmentandthewayemployeeswererewardedatthetwocompanies?22.1Listenagainandanswerthequestions.Poreachquestion(1-6),markoneletter(A,BorC)forthecorrectanswer.1WhatissaidabouthowconsultantsaredeployedinbigITconsultingcompanies?ATheyaregivenjobswithalotofresponsibility.BTheyareoftenexpectedtolearnonthejob.CTheyonlyworkonprojectswheretheyhaveprovenexperience.2WhatdoesthecommentatorsayaboutsalariesatPeopleSoft?AAtleastthecompanywasopenaboutitspaypolicy.BTheywereatthemarketrateforthejob.CTheywereunacceptablylow.3HowdidemployeesfeelabouttheirCEO,DaveDuffield?AThatherespectedthemandlookedafterthem.BThathewasreadytoleavethecompany.CThathedevelopedgoodsoftwareapplications.4Whatdoesthecommentatorimplyhappenedafterthemerger?AThecompany'sreputationsufferedBPeoplegrewtorespectthenewCEOCAlotofpeoplelosttheirjobs.5Howdoestheindustryanalystdefendthecompany'sgrowthstrategy?AHesayssizeisveryimportantinthisindustry.BIfOraclehadn'ttakenoverPeopleSoft,someoneelsewouldhave.CHesaysitwillmakethemthebiggestcompanyinthesector.6Howdoesheexplainthedifferencesincompanyculture?AThetwoCEOshadadifferentphilosophy.BThetwocompanieswereinvolvedindifferenttypesofbusiness.CTherewasnorealdifference.AprasereleaseYouworkinthepressofficeofaninsurancecompanythathasrecentlytakenoveranothercompany.Sincethetake-overtherehavebeensomenegativereportsaboutit.Youdecidetoputoutapressrelease.Includethefollowingpoints.·Explainthebusinessreasonsforthetake-over(tocompetewithotherbiginsurancecompanies;torationalisestaffing)·Expressyourenthusiasmaboutthefutureopportunitiesforthemergedcompany.·Thankalltheemployeesfortheirsupport.·Reassurepeoplethattherewon'tbemajorjobcuts.Beginlikethis:PRESSRELEASEInsureCOLastmonthInsureCowaspleasedtoannouncetheacquisitionofABCInsurance.Thenewcompanybringstogethertwoleadinginsuranceproviderstoformtheworld'sthirdlargestinsurancecompany…4ReadthisextractfromanarticleinBusinessStrategymagazine.Wheredothesefourtypesoforganisationbelonginthetext?stockbrokersrestaurantsoilcompaniesbanksorganisationalcultureRapidfeedback