2017年商務(wù)英語中級試題備考訓(xùn)練及答案
真正的讀書使瞌睡者醒來，給未定目標(biāo)者選擇適當(dāng)?shù)哪繕?biāo)。正當(dāng)?shù)臅甘救艘哉�，使其避免誤入歧途。以下是小編為大家搜索整理的2017年商務(wù)英語中級試題備考訓(xùn)練及答案，希望對正在關(guān)注的您有所幫助!更多精彩內(nèi)容請及時關(guān)注我們應(yīng)屆畢業(yè)生考試網(wǎng)!
1 A cautious approach can be used when calculating what a company is worth.
2 Consider personnel issues so that you have sufficient resources to fulfill your objectives.
3 In order to know if you can make a return on your investment, assess how you can add to the company you are buying.
4 Providing sufficient support for staff during the acquisition process can have a favourable outcome.
5 Take into account your long-term requirements to ensure you have the resources you need.
6 Even after investing some effort in the acquisition, it may still be necessary to withdraw.
7 Terms initially negotiated can be changed after the acquisition.
Mergers and Acquisitions
As Finance Director of plastics manufacturer VKT, Yvonne Maynart has overseen many successful takeovers
A
It is essential to build up a team to handle the acquisition so that your existing business can continue uninterrupted during the deal. It also helps to operate with spare capacity so that you can transfer people during the initial stages. A key person should be driving the acquisition process forward, although one person alone cannot assume responsibility for a large deal. It is clearly vital to do thorough research when identifying potential targets - but do not be afraid to walk away from a deal if you become aware of serious difficulties with a company you are targeting.
B
To decide on the value of any target business, you must first determine what contribution your acquisition can make to it. For example, you may be able to increase revenue through a more focused management team, or improve margins through greater purchasing power and lower costs. At VKT, we base our valuations on conservative assumptions - we also add in the risk element. This approach may be best, and it's worth remembering that with listed companies, shareholders tend to have higher risk/reward expectations.
C
Developing relationships with finance providers is a key part of the finance director's role. It is important to draw up a good business plan to ensure backing from lenders in the early stages of the acquisition. Your loan application needs to be supported by detailed profit and cashflow projections. Make sure you factor in sufficient finance to let the business develop over time, and allow for reinvestment. Here at VKT, we usually finance acquisitions with bank debt in the form of a 364-day loan, which can then be refinanced at a lower interest rate later.
D
If an acquisition is large, it can take years for companies to integrate. At VICT, we monitor all acquisitions closely for at least two years, and the most important lesson I've learned is that a deal is only good if it is beneficial for both vendor and acquirer. Change causes confusion, so it needs to be handled carefully. In order to protect profits and grow the business, you need to minimise the impact of change and help the people affected feel comfortable about it. When this is done properly, it can really boost morale.
這篇文章是關(guān)于收購的一些建議。一位專家針對收購可能出現(xiàn)的情況給出了自己的看法。A段是說要專門建立一個團(tuán)隊來處理收購事宜，要有一個關(guān)鍵的人來推動收購的進(jìn)行。同時還要對潛在的目標(biāo)進(jìn)行深入研究，如果發(fā)現(xiàn)了問題便及時抽身。B段是講要想評估目標(biāo)收購企業(yè)的價值，首先得決定你的收購能為它做出什么樣的貢獻(xiàn)�？梢酝ㄟ^一個更加專注的管理團(tuán)隊來提高收益，也可以通過提高購買力和降低成本來改進(jìn)利潤。C段講的是要和資金提供方建立良好的關(guān)系，并談到了資金借貸方面的一些情況。D段是講收購進(jìn)行后的一些影響。對于出現(xiàn)的相關(guān)變化，要妥善處理。處理的好的話會提高士氣。
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