1. The bank had doubled profitsin the past year via a string ofsuccessful mergers, but onApr. 21 it reported that itssecurities portfolio hadunrealized losses of nearly$131 million. 在过去一年中银行已经通过一系列成功的合并双倍盈利，但在4月21日却传出报告说证券投资组合造成近一亿三千一百万美元的损失。
2. We’re considering strategiesthat make the most sense ifrates are going up muchmore aggressively andsooner than anticipated.如果利率继续以超出我们想象的强劲势头增长，我们就要考虑最明智的决策。
3. But benchmarkingemployees, and then payingthem different rates, can turnout to be a minefield ifhandled badly. 但是仅仅用一种单一的标准来衡量员工，然后以此对他们进行区分奖励，一旦操作有误很可能造成恶劣后果。
4. But the growing shortage ofexecutive talent may makethe gro wth assumptionswritten into many businessplans over-optimistic. 但是日渐匮乏的管理人才使得商业计划书对未来经济增长的假设显得过于乐观了。
5. Alternati v ely, advertisers canchoose to use“spokescharacters”.O w ens-Corning has used theP ink P anther for nearl y20years to endorse itsinsulation products, andMetropolitan Life has usedthe P eanuts gang to promoteits insurance policies.Another way advertisersprotect themselves is byusing deceased celebrities.Through the w onders oftechnology, televi s ionviewers see screen legendsJohn Wayne pitching Coorsbeer and Fred Astairedancing with a Dirt Devilvacuum cleaner. 此外，作为一项选择，广告主不一定非要用真人来促销产品，而可以选择一个“代言人”（不一定是真实的人，可以是动画人物，甚至可以是动物）。
例如，奥弗恩斯*科宁用粉红豹来促销其粉红色的绝缘材料已有20 多年;大都会人寿保险公司用花生少年来促销其保险政策。
广告主保护自己的方法之一就是减少名人的运用。
例如，通过神奇的技术，电视观众看到了荧幕传奇任务约翰*威尼叫卖科拉斯啤酒的镜头，还看到了弗莱特*阿斯泰尔与一台名叫清洁助手的吸尘器一起跳舞的情形。
6. In China, as a result of theeconomic reforms andmarket opening measures,SME s have enjoyedremarkable development andhave grown to become animportant force incontributing towardssustained and rapid growthof the Chinese economic.在中国，由于经济改革和市场开发等措施，中小企业有了越来越大的发展，逐渐演变为中国得以可持续快速发展的中坚力量。
7. Many underestimate thecost of local staff.Chinese graduates oftenhave an inflated view oftheir own, complain someforeign managers.Multinationals are alsocompeting for talent withChina’s domesticcompanies, which need toimprove the quality oftheir people as thei rmarkets open to foreignrivals.许多人低估了本土雇员的成本。
一些国外的经理抱怨说，中国的毕业生常常过分地夸大自身的价值。
不少跨国公司也在和中国本土的公司竞争人才，这就意味着中国公司同样应当提高员工的素质，因为中国市场已经向国外的竞争者开放了。
8. A fairly obvious culturaldivide that has been muchstudied is the one between,on the one hand, thecountries of North Americaand north-west E urope,where management islargely based on analysis,rationality, logic and systems,and, on the other, the Latincultures of southern E uropeand South America, wherepersonal relations, intuition,emotion and sensitivity are ofmuch greater importance.一方面，北美和欧洲西北部的管理方式大都是基于分析、理性、逻辑和系统;而另一方面，在南欧和南美的拉丁文化中，人际关系、直觉、情感和敏感性则更为重要。
这两种明显的文化划分已经被广为研究。
9. The style of the ad. Is alsoimportant, becausecomparative ads, whileacceptable and evencommon in the United S tatesand Canada, are lesscommonly used in the UnitedKingdom, unacceptable inJapan, and illegal in Indiaand Brazil. 广告的形式也很重要，因为比较性广告在美国和加拿大可以被接受，甚至非常普通，但在英国却很少使用，在日本无法接受，而在印度和巴西则是非法的。
10. Those that w ant rewards tobe cost-effective butmemorable are seeking theservices of fi r ms thatspecialize in employeerecognition. 那些很想奖励员工而且希望所付出的奖励能够被员工铭记于心的公司往往会去寻求一种服务，帮助他们用巧妙的办法来俘获员工对于公司的认同感。
11. Coca-Cola’s Indiansubsidiary was forced to enda promotion that offeredprizes such as a trip toHollyw ood, because itencouraged customers tobuy in order to gamble, inviolation of India’sestablished trade practi c es.可口可乐印度分公司被迫停止提供奖项，诸如好莱坞旅游的促销活动，这种活动使顾客的购买行动带有赌博性质，而这违背了印度的贸易惯例。
12. The simplest mode is one inwhi c h Motorola makes noparticular effort to adjust tothe local culture, but merelyclarifies its policy on a givenissue, and implements thatpolicy regardless of whetherit overlaps w ith the values orstandards of the host culture.最简单的模式是摩托罗拉针对当地文化，并不作任何特别的调整，只是阐明一个既定的决策，并且实施这个决策而不管它是否与当地价值观或文化标准有所重合。
13. Slow ly but surely, consumersare leaving malls to shopon-line, often in theirpajamas at 11 PM. Andanyone who doubts thepotential pow er of theecommerce juggernauthasn’t grasped theadvantage for bothconsumers and businesses.显而易见的是，消费者逐渐把注意力从普通的购物商场转移到在线购物。
这样他们就可以穿着睡衣在晚上11 点的时候选择心仪的商品。
如果有任何人怀疑电子商务对传统购物的潜在威慑力的话，他一定是还没有体验过电子商务无论对买方还是卖方的巨大便利和优势。
14. In some situations, the overlapbetween Motorola’s standardsand certain pr actices of thehost culture might be so limitedthat the corpor ation has nochoice other than simply toabide by its own standards andattempt to remain viable in thatcountry. 在一些情况下，摩托罗拉的价值标准与东道国特定惯例的重合之处甚为有限，公司别无选择，只得遵守自身的准则，同时也尽量保持在东道国的可实行性。
15. Even if one country can makeeverything more cheaply thanevery other it still gains fromfocusing on the goods in whichits relative advantages isgreatest — i.e., in which it hasa compar ative advantage —and importing the rest.即使一个国家任何产品的生产都比其他国家具有更低的成本，它依然可以通过集中生产其最具有相对比较优势的产品而获得更大的利益，对于其他产品则可实行进口。