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商科专业英文练习

10. 公司结构 Company structure

There are some basic works used in relation to company organization. Match them up

with the definitions below:

1. autonomous 2. decentralization 3. function 4. hierarchy 5. line authority

6. report to 7. subordinates

A. a system of authority with different levels, one above the other

B. a specific activity in a company, e.g. production, marketing, finance

C. independent, able to take decisions without consulting a higher authority

D. people working under someone else in hierarchy

E. dividing an organization into decision-making units that are not controlled

F. the power to give instructions to people at the level below in the chain

of command

G. to be responsible to someone and to take instructions from him or her

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上个练习的标准答案

10. 公司结构

1 C 2 E 3 B 4 A 5 F 6 G 7 D

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商科专业英文练习

11. 并购 Mergers and acquisitions

Match up these words with the definitions below.

Backward integration to diversify(diversification) forward integration

horizontal integration to innovate(innovation) to merge(a merger) a raid synergy

a takeover bid vertical integration

1. designing new products and bringing them to the market

2. to expand into new fields

3. to unite, combine, amalgamate, integrate or join together

4. buying another company’s shares on the stock exchange, hoping to persuade

5. a public offer to a company’s shareholders to buy their shares, at a particular price during

a particular period, so as to acquire a company

6. to merge with or take over other firms producing the same type of goods or services

7. joining with firms in other stages of production or sale of a product

8. a merge with or the acquisition of one’s suppliers

9. a merger with or the acquisition of one’s marketing outlets

10. combined production that is greater than the sum of the separate parts

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上个练习的标准答案

11. 并购

1 to innovate (innovation) 2 to diversify (diversification) 3 to merge (a merger) 4 a raid 5 a takeover bid 6 horizontal integration 7 vertical integration

8 backward integration 9 forward integration 10 synergy

Vocabulary note: The noun takeover is one word but the verb take over is two.

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商科专业英文练习

12. 期货与衍生工具 Future and derivatives

Match up the words or expression on the top with the definitions below.

1. future 2. options 3. commodities 4. derivatives 5. hedge 6. speculation

A. contracts giving the right, but not the obligation, to buy or sell a security, a currency, or

a commodity at a fixed price during a certain period of time.

B. Contracts to buy or sell fixed quantities of a commodity, currency, or financial asset at a

future date, at a price fixed at the time of making the contract

C. A general name for all financial instruments whose price depends on the movement of

another price

D. Buying securities or other assets in the hope of making a capital gain by selling them at

a higher price (or selling them in the hope of buying them back at a lower price)

E. Making contracts to buy or sell a commodity or financial asset at a pre-arranged price in

the futures as a protection or ‘insurance’ against price changes

F. Raw material or primary products (metals, cereals, coffee, etc.) that are traded on

special markets

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上个练习的标准答案

12. 期货与衍生工具

1 B 2 A 3 F 4 C 5 E 6 D

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商科专业英文练习

13. 中央银行，货币与税收 Central banking, money and taxation

Which terms do the following sentences define?

1. The tax people pay on their wages and salaries is called

A. capital transfer tax B. Income tax C. wealth tax

2. A tax on wages and salaries or on company profits is a/an

A. direct tax B. indirect tax C. value-added tax

3. A tax levied at a higher rate on higher incomes is called a

A. progressive tax B. regressive tax C. wealth tax

4. A tax paid on property, sales transactions, imports, and so on is a/an

A. direct tax B. indirect tax C. value-added tax

5. A tax collected at each stage of production, excluding the already-taxed

costs from previous stages, is called a/an

A. added-value tax B. sales tax C. value-added tax

6. Profits made by selling assets are generally liable to a

A. capital gains tax B. capital transfer tax C. wealth tax

7. Gifts and inheritances over a certain value are often liable to a

A. capital gains tax B. capital transfer tax C. wealth tax

8. The annual tax imposed on people’s fortunes(in some countries) is a/an

A. added-value tax B. capital gain tax C. wealth tax

9. Making false declarations to the tax authorities is called

A. fiscal policy B. tax avoidance C. tax evasion

10. Reducing the amount of tax you pay to a legal minimum is called

A. creating accounting B. tax avoidance C. tax evasion

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上个练习的标准答案

13. 中央银行，货币与税收

1 B 2 A 3 A 4 B 5 C 6 A 7 B 8 C 9 C 10 B

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商科专业英文练习

14. 汇 率（1）Exchange rates

Match up the half-sentences below

1. To “peg” a currency against something means to

2. A clean floating exchange rate

3. Exchange controls used to limit

4. Speculators buy or sell currencies in order to

5. ‘Market forces’ means

6. “Hedging” means

A. the amount of a country’s money that residents were able to change

into foreign currencies.

B. fix its value in relation to it.

C. Make a profit by making capital gains or by investing at higher

interest rates.

D. is determined by supply and demand

E. trying to insure against unfavourable price movements by way

of futures contracts

F. the determination of price by supply and demand (the quantity

available and the quantity bought and sold)

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上个练习的标准答案是:

14. 汇 率（1）

1 B 2 D 3 A 4 C 5 F 6 E

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商科专业英文练习

15. 汇 率（2）Exchange rates

Which six of these verbs are defined below?

Abolish adjust appreciate convert diverge establish

Fluctuate peg suspend revalue

1. to make changes to something

2. to change something into something else

3. to end something permanently

4. to end something temporarily

5. to go up or down (in quantity, value, etc.)

6. to move away from what is considered normal

Note that in some of these questions there is only one correct answer, but for other questions there may be more than one answer. You will be told this information in advance, so read carefully:

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上个练习的标准答案

15. 汇 率（2）

1 adjust 2 convert 3 abolish 4 suspend 5 fluctuate 6 diverge

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Note that in some of these questions there is only one correct answer, but for other questions there may be more than one answer. You will be told this information in advance, so read carefully:

商科专业英文练习

1. 会计(1)

For questions 1 to 10 there is only ONE correct answer.

1. "The firm must be treated as financially separate and distinct form its' owner(s)". This rule is known as:

(Select one answer)

(a) The accounting equation

(b) The dual aspect concept

(c) The business entity concept

(d) The balance sheet

2. A firm buys stock for £100 by cheque and intends to sell it for £200, so the double-entry should be:

(Select one answer)

(a) Debit bank £100, Credit Stock £100

(b) Credit bank £200, debit stock £200

(c) Debit Purchases £100, Credit Sales £200

(d) Debit Purchases £100, Credit Bank £100

3. The system whereby we make two records for each transaction is known as

(Select one answer)

(a) Balance Sheet accounting

(b) Double-entry

(c) Dual aspect

(d) Management accounting

4. Which of the following is a liability?

(Select one answer)

(a) Creditors

(b) Debtors

(c) Stock

(d) Vehicles

5. A 'trade debtor' of AB ltd. can best be described as:

(Select one answer)

(a) A person or firm who bought goods from AB Ltd on credit and has not yet paid.

(b) A person or firm who borrowed money from AB Ltd in the form of a loan.

(c) A person or firm who sold goods on credit to AB Ltd and has not been paid.

(d) A person or firm who made a loan to AB Ltd

6. The word 'credit' in book-keeping means:

(Select one answer)

(a) Add value onto an account.

(b) Deduct value from an account.

(c) Left-hand entry in an account.

(d) Right-hand entry in an account.

7. Which of the following is an example of 'revenue expenditure'?

(Select one answer)

(a) The buying of a delivery van

(b) Paying for a five-year lease on shop premises in city centre

(c) Putting petrol in a delivery van

(d) Re-paying a loan which was taken out three years ago.

8. A firm pays £50 from its cash till to its bank account. The double-entry should be:

(Select one answer)

(a) Debit Cash £50, Credit Bank £50

(b) Debit Cash £25, Credit Bank £25

(c) Credit Cash £50, Credit Bank £50

(d) Credit Cash £50, Debit Bank £50

9. Which one of the following BEST describes 'purchases'?

(Select one answer)

(a) Items bought

(b) Goods bought for re-sale

(c) Goods paid for

(d) Fixed assets bought

10. G.Simkins sends back stock to J.J. Fabrics (a supplier), having originally purchased it on credit. J.J. Fabrics issued a credit note for the value of these goods. In Simkins' books, The double-entry for this transaction should be:

(Select one answer)

(a) Debit: J.J. Fabrics; credit Purchases

(b) Debit: purchases; credit J.J. Fabrics

(c) Debit J.J. Fabrics; credit purchases returns

(d) Debit purchases returns; credit J.J. Fabrics.

徐敏

呵呵，谢谢哦

ray888

英译中
Heinrich von Pierer, chief executive of Siemens, earned €4.6m ($6.1m) in the past year, according to the engineering group's first detailed management pay figures, which coincided with a study highlighting the favourable conditions enjoyed by top German managers compared with European counterparts.
工程集团西门子(Siemens)首份详尽的管理人员工资数据显示，首席执行官冯必乐(Heinrich von Pierer)去年的收入达到460万欧元(合610万美元)。恰好另有一项研究显示，与欧洲其它国家的高管相比，德国高层管理人员享受的待遇更好。

Mr Pierer received cash compensation of €3.56m plus stock-based compensation valued at €1.08m, Siemens has revealed in its annual report for the financial year that ended in September.
西门子在截至9月份财年的年报中透露，冯必乐先生获得356万欧元的现金报酬，外加价值108万欧元的股票报酬。

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One of Germany's largest companies, Siemens said it set management pay levels according to international yardsticks. Mr von Pierer's salary is lower than the €11m paid last year to Josef Ackermann, Deutsche Bank's chief executive and Germany's best-paid boss. However, a survey by Hay, a management consultancy, of European executive remuneration has found that the direct compensation, including long-term incentives, received by top managers at large German companies is 30 per cent higher than the European average.

作为德国最大的企业之一，西门子表示，它根据国际标准设定管理人员的工资水平。冯必乐先生的薪水低于德意志银行(Deutsche Bank)首席执行官约瑟夫•阿克曼(Josef Ackermann)去年获得的1100万欧元。阿克曼是德国薪酬最高的老板。不过，管理咨询公司Hay在对欧洲高管薪酬的一项调查中发现，德国大型公司的高管获得的直接薪酬，包括长期奖励措施在内，要比欧洲平均水平高出30%。

The unpublished survey of more than 200 listed companies with sales or market capitalisation of more than €1bn found that base salaries tended to be highest in the UK, Spain and Italy. When bonuses are taken into account, however, total cash payments are highest in Spain and Germany.

此项研究调查了200多家销售额或市值超过10亿欧元的上市公司，结果尚未公布。调查发现，基本工资通常是英国、西班牙和意大利最高，但加上奖金后，总现金支付额度则是西班牙和德国最高。

ray888

Germany's strong showing probably reflects a trend as well as the growth in German corporate profits despite sluggish growth in the overall economy.

德国的强劲表现可能反映了一种趋势，也反映了德国企业利润的增长，尽管德国整体经济增长疲软。

According to Hay, US base salaries are below the European average but bonuses and long-term incentive awards in the US are higher.

据Hay的调查，美国的基本工资低于欧洲平均水平，但奖金和长期奖励报酬要高。

Management pay has come under scrutiny in Germany because many of the country's largest companies, including Siemens, have been pushing through sweeping measures to cut labour costs. Until recently, most Dax-listed companies sought to avoid publishing individual figures for boardroom pay, defying a recommendation in Germany's voluntary corporate governance code. But the trend has been reversed in the face of threats by the Berlin government to force disclosure by law.

管理层薪酬在德国已引起关注，因为包括西门子在内，德国许多最大型企业正在全力推行大范围削减劳动力成本的措施。直到最近，多数法兰克福Dax指数成分股公司都试图避免公布有关董事会成员薪酬的个人资料，公然蔑视德国自发的公司治理准则中的建议。但面对德国政府以法律手段强迫披露的威胁，这一趋势已被扭转。

Siemens said its total executive board remuneration had increased by 9 per cent compared with the previous year. Siemens' operating profits in 2003-04 were up 16 per cent at just under €5bn.

西门子表示，该公司执行董事的薪酬总额比去年增加了9%。西门子2003-04年的营业利润上升了16%，略低于50亿欧元。

ray888

Germany's strong showing probably reflects a trend as well as the growth in German corporate profits despite sluggish growth in the overall economy.

德国的强劲表现可能反映了一种趋势，也反映了德国企业利润的增长，尽管德国整体经济增长疲软。

According to Hay, US base salaries are below the European average but bonuses and long-term incentive awards in the US are higher.

据Hay的调查，美国的基本工资低于欧洲平均水平，但奖金和长期奖励报酬要高。

Management pay has come under scrutiny in Germany because many of the country's largest companies, including Siemens, have been pushing through sweeping measures to cut labour costs. Until recently, most Dax-listed companies sought to avoid publishing individual figures for boardroom pay, defying a recommendation in Germany's voluntary corporate governance code. But the trend has been reversed in the face of threats by the Berlin government to force disclosure by law.

管理层薪酬在德国已引起关注，因为包括西门子在内，德国许多最大型企业正在全力推行大范围削减劳动力成本的措施。直到最近，多数法兰克福Dax指数成分股公司都试图避免公布有关董事会成员薪酬的个人资料，公然蔑视德国自发的公司治理准则中的建议。但面对德国政府以法律手段强迫披露的威胁，这一趋势已被扭转。

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市场营销发展趋势(1)

　　新经济、新营销概述
　　当今世界经济正以势不可挡的趋势朝着全球市场一体化、企业生存数字化、商业竞争国际化的方向发展，以互联网、知识经济、高新技术为代表，以满足消费者的需求为核心的新经济迅速发展。站在新千年交界处的营销正是处在这样一个高度竞争、瞬息万变的宏观环境之中，新经济的发展要求新千年的营销手段必须满足市场发展的需要。市场营销需要识别顾客的需求和欲望，确定某个组织所能提供最佳服务的目标市场，设计适当的产品、服务和计划方案以满足这些市场的需要，其目的是通过与重要的客户建立有特定价值倾向的关系，创造顾客满意并且获取利润。新千年里营销手段必须要满足以客户需求为核心的当代市场经济的要求。
　　新旧经济的主要区别
　　我们正处于世纪更替的关头，旧经济终将被更加适应新时代需要的新经济所取代。那么，在我们所说的新旧经济之间究竟有什么具体的区别呢?显而易见，它们之间最根本的区别是，建立在制造业基础之上的旧经济，以标准化、规模化、模式化、讲求效率和层次化为其特点，而新经济则是建立在信息技术基础之上，追求的是差异化、个性化、网络化和速度化。
　　接着，让我们来看一下新旧经济的营销之间，存在的更加深刻的差别。旧经济依靠产品自身来组织并发展，它注重有利可图的直接交易，着眼于经营业绩的高低，注重股东利益，以营销做营销，通常借助广告来创立品牌，虽然以吸引客户为目的，但缺乏客户满意度的标准，总是过度承诺消费者，却难以兑现自己所作出的许诺。
　　新经济的营销则与此有很大的差别。尽管新经济也着眼于经营业绩的高低，但是新经济本身是凭借强大的客户群体来支持和发展的，它更加重视客户的终身价值以及股东利益，营销上注重以人为本，通过实际行动来创立品牌，努力保持和开拓客户资源。新经济要求企业拥有客户满意度和客户保持率的标准，同时，总能够实现自己向客户作出的承诺。下面让我们通过一些实例来看一看新经济的这些特性。
　　新经济的特性
　　新经济的特性主要有三点。首先，企业越来越注重将价值从有形资产转移到无形资产上。企业扩张的活动越来越频繁，与旧经济时代相比，更加注重对无形资产的利用和控制，同时也更加关注无形资产所带来的价值。例如，Marriott公司是世界著名的酒店管理集团，它从不自己建造酒店或拥有任何酒店实体，而只负责对酒店管理。同时像Sara Lee这样的公司，他们不仅创造品牌，更想拥有品牌，他们是品牌持有人。这类公司不仅不组织生产，同时也很少将资本投入到固定资产上，他们更加重视对品牌的管理。
　　其次，价值从提供产品的企业，转移到不仅提供产品同时提供低价且高度个性化产品的企业，或者能够提供问题解决方案的企业。例如，世界著名的DELL公司,它出售的电脑可以根据每个客户的要求进行组装，实现高度的个性，同时其售价相对低廉；lBM则为客户提供问题的解决方案，他们有一整套的流程，可随时为客户解决各种在产品使用过程中遇到的疑难问题，并且接受客户的各类咨询。
　　最后，我坚信，企业可以方便地通过数据管理来降低成本，这也是新经济的另一个重要特性。杰克·韦尔奇过去常常在他的营销人员会议上说“改变或者灭亡”，对于一个GE人来说这不是个令人愉快的做法，但是确实行之有效。现在他常说的则是“拥抱网络，不只是一个网页”。要拥抱网络，而不只是给出一个网页，意味看拥有一个网页并不表示已经实现了网络化，网页只是网络营销的基础，我将在后面介绍网络营销真正重要的因素。如今越来越多的公司已经习惯于通过电子网络来管理他们的企业。那么，新经济究竟怎么影响现代营销呢?

ray888

NOTES:

coincide with 与。。。碰巧相吻合，相一致的的意思。非常简洁的将同样的中文意思表达出来。后面的highlight也是个非常好的词，突出重点的意思。而中文没有翻译出来事实上。不过要翻译的话，这句话会变的非常罗嗦。

international yardsticks 标准我们最常用的词是standard。而yardstick本意是码尺的意思，引申为“衡量标准”，这样的词个人感觉用的就生动些。

When bonuses are taken into account take sth into account把什么算在内，考虑。。。的意思。

sluggish growth sluggish在经济上好象经常用到，缓慢疲软的意思。

come under scrutiny scrutiny：详细审查的意思。词组被翻译成引起关注，其实我们知道并不仅仅是态度上的关注，更有行动上的审查。

pushing through sweeping measures 推行大范围的措施。sweeping是个很好词，中文里总让我想起横扫千军的气势。