MBA联考英语精彩文章推荐之中级篇(九)

考研教育网论坛   2009-07-01 14:31 【 】【我要纠错

The Program-Federal Government Helps Minority Business

  Federal efforts to aid minority businesses began in the 1960's when the Small Business Administration (SBA) began making federally guaranteed loans and government-sponsored management and technical assistance available to minority business enterprises. While this program enabled many minority entrepreneurs to form new businesses, the results were disappointing, since managerial inexperience, unfavorable locations, and capital shortages led to high failure rates. Even 15 years after the program was implemented, minority business receipts were not quite two percent of the national economy's total receipts.

  Recently federal policymakers have adopted an approach intended to accelerate development of the minority business sector by moving away from directly aiding small minority enterprises and toward supporting large, growth-oriented minority firms through intermediary companies. In this approach, large corporations participate in the development of successful and stable minority businesses by making use of government-sponsored venture capital. The capital is used by a participating company to establish a Minority Enterprise Small Businesses that have potential to become future suppliers of customers of the sponsoring company.

  MESBIC's are the result of the belief that providing established firms with easier access to relevant management techniques and more job-specific experience, as well as substantial amounts of capital, gives those firms a greater opportunity to develop sound business foundations than does simply making general management experience and small amounts of capital available. Further, since potential markets for the minority businesses already exist through the sponsoring companies, the minority businesses face considerably less risk in terms of location and market fluctuation. Following early financial and operating problems, sponsoring corporations began to capitalize MESBIC's far above the legal minimum of $500,000 in order to generate sufficient income and to sustain the quality of management needed. MESBIC's are now emerging as increasingly important financing sources for minority enterprises.

  Ironically, MESBIC staffs, which usually consist of Hispanic and Black professionals, tend to approach investments in minority firms more pragmatically than do many MESBIC directors, who are usually senior managers from sponsoring corporations. The latter often still think mainly in terms of the 'social responsibility approach' and thus seem to prefer deals that are riskier and less attractive than normal investment criteria would warrant. Such differences in viewpoint have produced uneasiness among many minority staff members, who feel that minority entrepreneurs and businesses should be judged by established business considerations. These staff members believe their point of view is closer to the original philosophy of MESBIC's and they are concerned that, unless a more prudent course if followed, MESBIC directors may revert to policies likely to re-create the disappointing results of the original SBA approach.

  1.Which of the following best states the central idea of the passage?

  A.The use of MESBIC's for aiding minority entrepreneurs seems to have greater potential for success than does the original SBA approach

  B.There is a crucial difference in point of view between the staff and directors of some MESBIC's

  C.After initial problems with management and marketing, minority businesses have begun to expand at a steady rate

  D.Minority entrepreneurs wishing to form new businesses now have several equally successful federal programs on which to rely

  2.According to the passage, the MESBIC approach differs from the SBA approach in that MESBIC's

  A.seek federal contracts to provide market for minority businesses

  B.Encourage minority businesses to provide markets for other minority businesses

  C.Attempt to maintain a specified rate of growth in the minority business sector

  D.Rely on the participation of large corporations to finance minority businesses

  3.Which of the following statements about the SBA program can be inferred from the passage?

  A.The maximum term for loans made to recipient businesses was 15 years

  B.Business loans were considered to be more useful to recipient businesses than was management and technical assistance

  C.The anticipated failure rate for recipient businesses was significantly lower than the rate that actually resulted

  D.Recipient businesses were encouraged to relocate to areas more favorable for business development

  4.The author refers to the 'financial and operating problems' encountered by MESBIC's primarily in order to

  A.broaden the scope of the discussion to include the legal considerations of funding MESBIC's through sponsoring companies

  B.call attention to the fact that MESBIC's must receive adequate funding in order to function effectively

  C.show that sponsoring companies were willing to invest only $500,000 of government-sponsored venture capital in the original MESBIC's

  D.Compare SBA and MESBIC limits on minimum funding

  5.It can be inferred from the passage that the attitude of some MESBIC staff member toward the investments preferred by some MESBIC directors can be best described as

  A.disappointing

  B.Indifferent

  C.Shocked

  D.Defensive

  难句译注

  1.Even 15 years after the program was implemented minority business receipts were not quite two percent of the national economy's total receipts.

  译文:甚至在这个计划执行后15年,少数民族工业的收入还不到全国总收入的2%.

  2.Recently federal policy makers have adopted an approach intended to accelerate development of the supporting large, growth oriented minority firms through intermediary companies.

  译文:最近,联邦决策者采取一项措施,旨在加速少数民族工商业的发展,他们不再直接帮助小型的少数民族企业,而是转向通过中间公司来支持规模较大、有发展潜力的少数民族公司。

  3.By making use of government-sponsored venture capital.

  译文:利用政府资助的风险资本。

  4.The MESBIC then provides capital and guidance to minority businesses that have potential to become future suppliers or customers of the sponsoring company.

  译文:然后再由MESBIC向那些少数民族企业提供资金、进行指导。这些企业是有成为赞助公司的未来供应商或客户的潜力的。

  5.MESBIC – minority enterprise small business investment company

  译文:少数民族小型企业投资公司。

  6.MESBIC's are the result of the belief that providing established firms with easier access to relevant management techniques and more job-specific experience, as well as substantial amounts of capital, gives those firms a greater opportunity to develop sound business foundations than does simply making general management experience and small amounts of capital available.

  译文:MESBIC的建立基于这种信念:为已建公司提供方便,使它更容易获得相关的管理技术更具体的工作经验以及大笔资金要比简单地给予一般管理经验和小笔资金更能使它们获得机会去建立稳固的商业基础。

  7.The latter often still think mainly in terms of the 'social responsibility approach' and thus seem to prefer deals that are riskier and less attractive than normal investment criteria would warrant.

  译文:后者――高级经理们――在有大多数情况下,仍然常常从“社会责任的角度”来考虑问题,因此,他们似乎更倾向于选择那些比正常投资标准更具风险性,而不太引人注目的项目。

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