33. 美国的ROI ※ 主题思路:
两种衡量公司绩效evaluate company’s performance 的指标: (1) ROI;(2) Market Share(作者赞成后者)
※段落大意:
P1: 提出旧理论:
衡量公司performance 的指标,总说ROI(投资收益率)比较好,就是说现在美国很多公司还是用ROI 来衡量公司的表现,只图短期利益的。文章还说了在什么什么时候ROI确实带来了利益..但是..现在一些企业在他们本来占优势的市场丢失份额。现在的企业比较重视报酬率,美国很多企业用投资回报率来衡量投资的收益,并决定是否要投资。但是这个标准忽略了在研发(research and development)等起初高投入收益低,只有长期投入才会有很好收益的项目,那么导致过于重视在短期的表现,而不重视研发、长期投资及人才培养(manager focus on short term performance, do not invest in new technology)。因此,使得社会没有进步的动力,并且很多采取ROI 的公司利润都下降,因为ROI 的标准是能捞一笔捞一笔,追求短期利益,于是发现这个指标太短视,因此失去market share。
P2: 提出新理论:
但作者认为在高度商业化(high economic growth)社会,建议公司更关注最大化股价。要用提出另个策略以股价的长期走势为目的才行,公司不应该光追求短期利益,市场份额market share 更重要。在现在这样的经济环境下,更有优势。作者观点很明确,赞成后者。作者认为企业要重视的应是市占率,市占率的变动可以真实反映市场需求了解顾客想法,利于企业作长期规划。不重视市占率,即使有优势,也会渐渐被对手超过。因此,现在提倡用另外一个measure 来衡量,新的方法更重视企业的健康发展,而不会使得企业因为只是追求短期的投入而失去的更广阔的发展空间。
※ 题目: 1) 主旨题 V1 evaluate两种方法,并提出其分别适用的situation(因为文章没太反驳ROI,而且前面好像说刚成立的公司是需要它的,后来会慢慢失去market share)
V2分析两个strategy优缺点那个项,好像是C V3 criticize one and recommend an alternative... V4 我觉得没有批评推荐...只是单纯的介绍...所以选了因为介绍了两种方法以及他们使用场合
前三的答案意思一样,注意表达 2)用 ROI 来衡量企业performance 的话, 有什么缺点. 用 ROI 的企业不会投钱去研发 (research and development) 3)细节推断题(定位点是经济增长时期,market share 比ROI的衡量标准更好) 有一个,说哪个正确,选项里面有一个是market share的方法运用在low-growth company比high-growth company好
4)还有一题是with which one of the following will the author agree. V1我选了用market share来assess的公司比较会有long run的benefit.
V2问以market share作为评定标准怎么么怎么样..定位第二段(没记错的话,有一句很明显的句子让你定位)...选了一个long-term有关的选项 5)下列分析中 哪个符合ROI 6)还有个文章类型题 7)还有道题是说market share 的,忘了是啥了,
反正选项里不是说它不好就是把它和short-term联系在一起了,就一个选项说好,还只说了long-term(小编怀疑是Q4) 8)问作者最同意ROI的什么? 选将ROI和market share结合是最好的
※ Background:GWD-18-Q35-Q37(不是原题) To compete effectively in international markets, a nation’s businesses must sustain investment in intangible as well as physical assets. Although an enormous pool of investment capital exists in the United States, the country’s capital investment practices put United States companies at a competitive disadvantage. United States capital investment practices, shaped by sporadic and unpredictable changes in tax policy and high federal budget deficits, encourage both underinvestment and overinvestment. For example, United States companies invest at a low rate in internal development projects, such as improving supplier relations, that do not offer immediate profit, and systematically invest at a high rate in external projects, such as corporate takeovers, that yield immediate profit. Also, United States companies make too few linkages among different forms of investments. Such linkages are important because physical assets, such as factories, may not reach their potential level of productivity unless companies make parallel investments in intangible assets such as employee training and product redesign. In general, unlike Japanese and German investment practices, which focus on companies’ long-term interests, United States investment practices favor those forms of investment for which financial returns are most readily available. By making minimal investments in intangible assets, United States companies reduce their chances for future competitiveness.
※ 备注:
1)一段,接近一屏半 2)和JJ一致 可以直接看题目 3)V40 大神建议:ROI JJ把主要信息都交代了。只是文章比我想象的短。只有一段的样子。而且有一些逻辑关系……不是JJ里说的那么明显。建议大家扫一下文章再选。 |