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Reading 1 hour
PART ONE
Questions l—8
·Look at the statements below and at the five extracts from an article about broadening corporate responsibility.
·Which article(A，B，C，D or E)does each statement l—8 refer t07
·For each statement l—8，mark one letter(A，B，C，D or E)on your Answer Sheet.
·You will need to use some of these letters more than once.
·There is an example at the beginning，(0).
1 Many nations are developing a consensus that public policies can and should promote domestic and global CSR.
2 Stakeholders can’t simply rely on market forces to ensure global corporate social responsibility.
3 Maximizing shareholder value alone is not a good enough lon9—term strategy·
4 The United States has a wide range of policies that are explicitly designed to promote global corporate responsibility.
5 President，executives and activists hope that new reporting requirements and auditing rules will reassure global investors.
6 The fundamental reform should promote corporations to answer for their workers and the environment.
7 The U.S has a wide range of public policies that undermine global corporate social responsibility.
8 The efforts of making proposals promote corporate responsibility are laudable，but they will prove insufficient.
A
Executives are coming to understand that they can’t meet their corporate responsibility simply by maximizing shareholder value.Last year PricewaterhouseCoopers surveyed ll61 chief executive officers of companies from 33 countries.Some 68 percent of those polled said that global corporate responsibility was Vital to profitability.Meanwhile citizens around the world have become more vocal in demanding that global business beheld accountable for conduct that could undermine social，environmental or economic progress.
B
Although markets have encouraged more firms to act in a responsible manner in the global economy，market forces have not been sufficient to ensure responsible behavior all of the time.Moreover，the responsible firms that work harder to ensure that workers or the environment are treated well as they make goods and services could have higher costs，which may allow other competitors to gain market share.The right mix of public policies can ensure that responsible firms are not penalized.
C
Washington D.C is drowning in paper.Congress has voted on proposals to promote corporate responsibility.Meanwhile。the President，executives and activists are all scurrying about in search of additional proposals to make executives more accountable for their companies’ financial reports.Given that capitalism today is global as well as local。the U.S must work with its allies to write international corporate governance norms.But we need to use this opportunity to think more broadly about how to reassure global economic confidence long term.All of there form efforts to date focus on a narrow definition of corporate responsibility.President Bush acknowledged in his July 9th speech，“There is no capitalism without conscience.”That is why the ultimate reform would encourage corporations to also act responsibility towards their workers and the environment.
D
The codes，including ones promoted by the Department of State--the Voluntary Principles for Security and Human Rights and the OECD Guidelines，are designed to help business protect human rights in nations with poor human rights records.Corporate social responsibility policies can also include EPA regulations that require corporations to report on their global environmental liabilities.After all.the costs of cleaning up can be a major drain on corporate profits.But these policies are not well coordinated or known as CSR policies.Were someone to compile an overview，we might gain a greater understanding of how such policies can be made more effective.But there are some policies including tax policies that encourage firms to shift production or their headquarters to nations with weaker fiscal or regulatory systems，Other policies that may undermine global corporate responsibility include corporate welfare and agricultural protectionism.
E
The French government recently overhauled French corporate law and mandated the disclosure of companies’ social and environmental as well as profit performance.This is a good idea.The British require pension funds to report on the social，environmental，as well as profit performance of their investments.The Canadian government is also examining a wide range of public policies to promote CSR.Perhaps the most interesting development was that in 2001，with funding from the Atkinson Foundation，five private citizens organized a commission on democracy and accountability.Their final report issued 25 specific policy recommendations on promoting global and domestic CSR.
PART TW0
Questions 9—14
·Read this text taken from an article about logistics and corporate profit performance.
·Choose the best sentence 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 beginnin9，(0).
A However if management concentrates on system changes that improve logistics efficiency and/or effectiveness，it may be able to satisfy all of the firm's objectives.
B Usually，management assumes that revenues and other costs will remain the same.
C They do so by placing smaller，more frequent orders.which may increase total logistics cost for both the manufacturer and its customers.
D In either set of circumstances.the increased cost of transportation and/or production or the lost sales contribution could far exceed the savings in inventory carrying cost.E If a manufacturer changes its terms of sale，for example，the effect on wholesalers and retailers will be twofold.
F In addition simply reducing the level of inventory can significantly increase the cost of logistics if current inventories have been set at a level that allows the firm to achieve least total cost logistics for a desired level of customer service.
G Alternatively pressure to reduce expenses may preclude the use of premium transportation or increased production setups to achieve the desired customer service levels with smaller inventory.
H The two most common strategies used to improve cash flow and return on assets are：(1)reducing accounts receivable and(2)reducing the investment in inventory，as inventories and accounts receivable are a major’ portion of corporate assets.
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