2023年中级商务英语阅读习题

2023年中级商务英语阅读习题

CriticalPath

WhenDavidHaydenrealisedhiscompanywasheadingfortrouble,hetookdrasticmeasurestogetitbackontrack

DavidHaydenfoundedhiscompany,CriticalPath,anemailprovider,in1997totakeadvantageoftheboominemailtraffic.CriticalPathbecameapubliccompanytwoyearslater,andHaydentooktheopportunitytostepdownfromhisexecutivepositioninordertoworkonpersonalprojects.Atthesametime,heagreedtostaywiththecompanyasChairman,butthebusinesswasputinthehandsofnewmanagersbyitsinvestors.Withsector-leadingproductsandanexpandingmarket,thecompanyseemedtobeontheupandup.However,byearly2023,itwasintrouble.Sharesthathadbeenworth$26in1999,whentheywerefirstsold,weredowntoamere24cents.

Calledinbyapanickingboard,HaydenfoundhimselfbackinchargeasExecutiveChairman,tryingdesperatelytorescuewhathecould.The1,100staffhadlostconfidenceinthecompanyanddidnotknowwhatwasgoingtohappentothem.And,asHaydendiscovered,themanagementteamwasincompetent.Thoseguysdidntunderstandtheproductorthesector,saysHayden.Theheadsofdepartmentdidntcommunicateandtheydidntlead.Butwhatwasworse,CriticalPathhadlostthegoodwillofitsinvestors.

Haydenknewthatbringingthefiguresundercontrolwouldbeavitalstepinthecompanysturnaround.Youvegottosortoutthefinances.Forme,thatmeantgettingbackthegoodwilloftheinvestors.Thatwastough,afterwhathadhappened.Butalthoughtheywereangrywiththecompany,theydidnthavebadfeelingsaboutme.ItoldthemthatIknewIcouldgetthecompanyonitsfeetagain.Hewasauthorisedtomakewhateverchangeswererequired,andhisfirstactwastofindpeoplewithinthecompanyhecouldtrustandputthemincharge.

ThenextthingHaydenhadtotacklewasmorale.Everyonelefttheofficeatfiveonthedot-theycouldntgetawayquicklyenough.Togetthebuzzbackandwinthestaffover,Ihadtoprovemyowncommitmentandputintheextrahourswiththem.Inreturn,itwasassumedthatnobodywouldaskforovertimepayuntilthecompanywasonitsfeetagain.Contrarytonormalpractice,Haydenwasreluctanttolaypeopleoff,andapartfromnotreplacingpeopleastheyreachedretirementage,helefttheworkforcelargelyunchanged,althoughhedididentifykeypeoplethroughoutthecompanywhoweregivenmoreresponsibility.

But,asHaydeninsists,beforeacompanyreachessuchacrisis,therearewarningsignsthatanyfinancialdirectororaccountantshouldtakenoteof.Abusinessthathasanunrealisticpricingpolicyorhastonegotiateextendedcreditwithitssuppliersisintrouble,ishismessage.Orifyouoftenhavetoapplyforyouroverdraftlimittoberaisedorhavetroublepayingtaxontime,somethingneedstobedone.

By2023,thecompanywashealthyagain,withreasonablystablefinancesandamodestbutsteadysharepriceof$1.60.Onethingthathelpedsaveuswasthatourtechnologyworked,saysHayden.With20millionemailaccounts,weneverlostasinglemajorclientbecausetheproductkeptonworking.Withideasforafreshventuredemandinghisattentionelsewhere,Haydenhasmovedon.Itwastimetogo,hesays.Imnotaturnaroundspecialist.Ipreferstart-ups.

13WhateventcoincidedwithCriticalPathbecomingapubliccompany?

AHaydenbecametheExecutiveDirectorofCriticalPath.

BInvestorshiredareplacementteamtorunCriticalPath.

CCriticalPathlaunchedasuccessfulnewproductonthemarket.

DCriticalPathwasfloatedontheStockExchangeat24centspershare.

14WhichofthefollowingsituationsdidHaydenfaceatCriticalPathin2023?

ATheemployeeswereworriedaboutjobsecurity.

BTheinvestorswerecallingforchangestothecompanystructure.

CThemanagementwasmisleadingthestaffaboutthecompanysposition.

DTheboardofdirectorsdidnotrealisethescaleofthecompanysproblems.

15OnereasonHaydenwasabletoturnCriticalPatharoundwasthat

Ahemanagedtofindnewinvestors.

Bthefinancialsituationwasnotasbadashehadthought.

Chehadbuiltupagoodrelationshipwiththemanagementteam.

Dhewasgiventhesupportthatheneeded.

16WhatwasHaydenspolicyregardingthestaffofCriticalPath?

AHepaidovertimetoeverybodywhoworkedoutsideofficehours.

BHereducedtheworkforcebyoperatinganearlyretirementscheme.

CHegavekeystafftheopportunitytohelphimsetgoalsforthecompany.

DHerestoredmotivationbyshowingwillingnesstoworkalongsidestaff.

17AccordingtoHayden,whatcouldindicatethatabusinessisintrouble?

Aproblemskeepingaccountsuptodate

Bsuppliersrefusingtooffernewcreditterms

Cafrequentneedtoincreasetheamountborrowed

Ddifficultiesingettingpaymentfromcustomersontime

18HaydenleftCriticalPathafterhehadrescuedtheco