商务英语阅读Unit10 banking 课后答案和新编剑桥商务英语(高级)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：在去年信贷危机爆发的时候，联邦的监管者们向国内的各主要金融机构注入了数以百亿计美元，而他们这么做的原因在于这些银行是如此之大以至于官员们担心它们的破产将会拖垮整个金融体系。如今，这些银行中最大的几家甚至变得更大了。这场危机对控制着美国金融的不少巨头们而言很可能是件好事。由联邦政府安排的一系列兼并行动将陷入困境的银行平安地并入了更为安全稳定的企业中。这场危机还让幸存者们得以乱中重生，市场地位得到巩固，对消费者信贷拥有更大的控制权，并获得更多的盈利空间。如今，这个国家每十美元的储蓄中就有超过一美元是由摩根大通银行（J.P.MorganChase）掌控的，该银行则由华尔街的一些老字号机构组成。美国银行（BankofAmerica）和西海岸最大的银行富国银行（WellsFargo）的情况也是如此，而前者在收购美林证券（MerrillLynch）时遭受重大损失，又因金融危机被政府部分收购。联邦政府数据显示，现在每两笔抵押贷款中就有一笔和每三张信用卡中就有两张是由以下银行发放的：上述三家银行，再加上由政府救助并拥有的花旗银行（Citigroup）。在去年九月金融体系几乎完全崩溃一年后，联邦政府的应对措施重新界定了美国人获得抵押贷款、学生贷款和其他信贷的方式，并高调主导了一场关于高管薪酬的全国性讨论。不过，在这场危机带来的所有后果中最让高层监管者们不安的是那些超大型银行却变得更大，而且它们之间的联系更为紧密。监管者们有两方面的担忧：一是消费者对服务的选择余地最终会越来越小，二是银行会认为如果事情弄砸了它们总会得到政府的支持。这一假设的保证意味着如果大公司认为联邦官员总会替它们收拾烂摊子的话，它们就会重操旧业，再次从事那些曾引起此次危机的高风险行为。这个名为“道德风险”的问题可以在一定程度上说明政府官员为何要严密监控那些获得了救助的银行监督其高管的薪酬并审查其重要部门或分支机构的出售。除此外，此问题还促使奥巴马政府采取措施建立新的监管体系以防新危机的再现。此项计划还对大型金融机构设置了更高的资本标准，并授权政府可以接管各类陷入困境的金融机构以便逐步而有序地停止其业务。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‘acquireanindustrysolutionthatisattheheart’.‘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