management believes that its existing manufacturing and marketing expertise can be leveraged with the new business.
2 ) 通用公司主席韦尔奇被公认是二十世纪最成功的管理者。Jack Welch, General Electric chairman, was universally acclaimed as one of the most successful manager in the 20th century. 3 ) 日本公司全体人员都一致同意出售公司以前收购的业务单元，因为它损害了公司价值。The Japanese company is unanimous in its support of divestiture since the acquired business unit is destroying the corporate value.
4 ) 这项研究揭示出公司在战略实施方面经常犯的错误。This study reveals several fault lines that companies frequently encounter as they execute their corporate strategy.
5) Anheuser Busch接手Eagle Snacks伊始，就遇到 了困难. Problems arose at the very outset when Anheuser Busch acquired Eagle Snacks
6) 美国电话电报公司几乎从一开始就容忍了NCR的亏损，但仍旧继续投入资金。AT&T put up with losses in NCR almost from the start, but continued to subsidize it.
7) Mattel公司希望通过收购 The Learning Company ,能够从中获取高于平均水平的收益率。Mattel expected to derive above-average profitability from the acquisition of The Learning Company.
8) 必须牢记，我们必须经常重新评估公司的战略，并在为时还不太晚时做出出售决定。We must bear in mind that a corporate strategy must be constantly evaluated and divestiture decisions made before it is too late.
9 ) 美国电话电报公司意识到，电信设备与计算机技术不能画等号。AT&T realized that telecom equipment is not identical to computer technologies.
10) 我们不能孤立地看待收购战略的失败，因为这是很多因素共同作用的结果，不是一维线性的。We can't view the failure of the acquisition strategy in isolation. It is the result of a combination of several factors, rather than unidimensional.
Chapter 9
I) 由于全体员工的强烈抵制，有关将公司迁至市郊的决议被搁置。Due to the strong opposition of all the staff members, the decision concerning the relocation of the company to the suburban area was set aside.
2) 作为-名有超过15 年工作经验的首席执行官，在这件事上他的判断绝不是无可指摘的。As a CEO with more than 15 years of working experience, his judgment in this matter was by no means infallible.
3) 这两家公司自6 年前开始合作以来关系一直很好。The two companies have been on good terms with each other ever since they started cooperation 6 years ago. 4) 自从高盛宣布要在大中华地区招收1500新员工以来，申请书像潮水般涌进它的人力资源部门。Ever since Goldman Sachs announced its plan to recruit 1500 new employees in Greater China, applications flooded into its HR office.
5) 生产方便用户操作的软件是这家IT 公司几代设计师传承下来的传统. To produce user-friendly software is a tradition passed on between the several generations of designers in this IT company.
6)石油化工产品现在已占所有化学制品的四分之一，预计年后这个数目还要加倍。Petrochemicals today account for one fourth of all the chemicals made, and in ten years this amount is expected to double. 7）他以前从未去海外工作过，我不知道他是否能（与当地雇员） 配合好。He's never engaged
in any international assignments before; I'm not sure whether or not he'll fit in (with the local employees).
8)为确保投资能有回报，风险投资家通常会密切关注新公司的经营状况，尽管他们未必会直接干涉其管押。To ensure returns on their investment, VCs will usually keep an eye on the operations of the start-ups although they may not interfere in its management.
9）我认为现在不是买股票的最佳时机，股票市场的变化一如既往地变幻莫测。I don’t think it’s a high time to buy shares at the moment. The stock market will continue to ebb and flow as usual.
10)一般来说，能得到知名投资公司的经济支持可以增加新公司的可信度。Generally speaking, to be able to get capital from a renowned venture capital company adds to the credibility of the start-up company.
Chapter 10
1） 随着国内订单的不断到来，这家工厂每周要生产出上万双运动鞋。With orders flooding in from all parts of China, the factory churns out thousands of pairs of sneakers every week。
2) 因为违反了竞争法，这家广告公司被判处缴纳十万美元的罚款。The court imposed a ￡100,000 fine on the advertising company for violating the competition law.
3) 由于来自环保组织的抗议，这家制药公司的扩张计划被迫搁浅。Due to the protest of the green organizations, the expansion project of the pharmaceutical company has to seize up.
4) 作为知名的经济学家，他的这两场讲座有助于我们了解全球化的各种利弊。As an accomplished economist, his two lectures shed some light on our understanding of the advantages and disadvantages of globalization.
5) 在委员会讨论表决之前,这项提议需要补充更多有说服力的数据。This proposal needs to be fleshed out with some more convincing figures before the committee votes on it.
6) 在商业谈判中取得双赢局面的一个重要途径是谈判双方都很灵活,在不偏离各自最终 目标的前提下做出适当让步。One way to achieve a win-win situation during business negotiations is that both parties are very flexible, willing to make sensible concessions without deviating from their own ultimate goals.
7) 在他职业的巔峰期，他辞去在投资银行的高薪职位而改去一家非营利组织工作 。He quitted his well-paid job in the investment bank at the height of his career and took a position in a non-profit organization
8）在他为自己的硕士论文搜集资料的过程中，他无意中发现了一个绝佳的商业机会并将它发展成为业内的十大企业之一。In the process of searching material for his master’s dissertation, he stumbles upon an excellent business opportunity and later developed it into one of the top ten enterprises in the industry.
9) 作为—个亊业刚刚起步的小公司老板，他在很多方面都要听命于自己的供应商。As the owner of a small start-up company, he is subject to the will of his suppliers in many aspects.
10）尽管面临很大的经济压力，他从没想过要削减员工的住房补贴。In spite If great financial pressure, he has never conceived of reducing the housing allowances of his employees.
Chapter 11
1) 作为世界上第一家电子股票交易市场，纳斯达克早就史无前例地进行了技术交易的创新。As the world’s first electronic stock market, NASDAQ long age set a precedent for technological trading innovation that is unrivaled.
2) 中国香港被公认为全球最自由的经济体之一，也是进人中国内地市场的门户。Hong Kong is widely recognized as one of the economies in the world, and the gateway to the Mainland market.
3) 周二，各界盛传美联储可能再次降息，以缓解股价暴跌对经济的冲击。On Tuesday, it was widely rumored that US Federal Reserve would probably decrease interest rate again to relieve strike of sharp stock slump to economy.
4) 随着计算机技术的发展和互联网的广泛应用，计算机病毒越来越猖獗，这对网络信息安全的构成严重威胁。With development of the computer technology and wide use of the Internet, computer virus has become rampant, posing a severe threat to information security on the Internet.
5) 政府部门本来打算把所有工人的加薪幅度限制在一个合理的水平上，但是几家行业工会抢先一步，在新的法规生效之前获得了大幅度的加薪。The government had intended to limit the wage increase of all workers to a reasonable amount, but several trade unions stole a march on them by receiving large increases before the new laws came into effect.
6) 经过几个小时的谈话后，他们终于放弃了不合理的要求。After several hours’ negotiations, they finally backed down from their unreasonable demands.
7) 这与亚洲金融危机最紧张时期的情况刚好相反，当时资金紧缩，银行间同业拆借率高达12%。This contrasts with the situation at the height of the Asian financial crisis when there was a liquidity crunch and inter-bank rates hit as high as 12%.
8) 若有证据表明加油站的经营者对有关提价事项进行了协商并达成一致，这可能就违反了反托拉斯法的规定。If there is evidence that the operators of the gasoline stations talked to each other about increasing prices, it may be an antitrust violation.
9) 劳动力市场上有经验雇员的紧缺是导致各公司致力于吸引和留住员工的一个主要因素。The tightness of the labor market for skilled employees is a major factor that led companies to step up their efforts to attract and retain workers.
10) 通过向官员行贿疏通关系是违法的。It is an unlawful act to smooth things out by greasing the palms of officials.
Chapter 12
1） 目前，据估计飞机排放的二氧化碳约占全球二氧化碳排放问题的2%。At present, aircraft emissions are estimated to account for about 2% of the total world carbon dioxide emissions. 2） 他试图为本国制造厂商与外国买家牵线搭桥。He tries to marry domestic manufacturers with foreign buyers.
3 ) 如何促进增长，重振市场信心，是我们需要解决的头等大事。How to promote growth and restore confidence in the market is an issue at the top of our agenda.
4 ) 对中国而言，美元崩溃没有任何好处，尤其是会大大削弱中国产品在美国的竞争力。China has little to gain from a dollar crash, not least because that would make its exports much less competitive in America.
5 ) 目前的低通货膨胀率和家庭收人的稳定增长将转化成为更多的购买力。The current low inflation and steady growth in household income will translate into more purchasing power.
6 ) 在美英等国，失业者和老人从政府领取津贴以度过艰难的时期。In countries like the US and the UK, the unemployed and elderly people receive allowances from government to wade through difficult times.
7 ) 出口增长的放缓以及进口的稳步上升反映了该国改善对外贸易的努力已经初见成效。The
slowdown in export growth and a steady increase in import reflected the country’s efforts to improve foreign trade have begun to pay off.
8 ) 他投人毕生积蓄创建了自己的公司，并获得了丰厚的回报。He plowed his life savings into creating his own company, which paid him off handsomely.
9 ) 雇主对申请者进行年龄限制的做法有些年龄歧视的味道。The employer’s setting an age limit on applicants smacks of age discrimination.
10) 通过密切关注为客户的需要服务，我们努力保持领先地位。We have managed to stay ahead of the curve by focusing intensely on serving the needs of our customers.