E TAYLOR'S Despite a downturn in consumer confidence during the period, we continued to experience positive like-for-like sales growth for the financial year, unlike many others in our peer group. Encroachment by our new openings on 38 of our established restaurants had a 3% negative effect on like-for-like sales, but this percentage is certain to be reduced. Since the year-end, our like-for-like sales trend continues to be positive. We have changed a net debt position of £11.2m this time last year to net cash of £1.7m this year.
Part Two Questions 9-14 Read this text about business schools. Choose the best sentence to fill each of the gaps. For each gap (9-14), mark one letter (A-H). Do not use any letter more than once. There is an example at the beginning (0).
BUSINESS SCHOOLSHAVETHE EDGE Business schools are facing increasing competition from other providers of management training such as consultancies. The key to their future success as manager-trainers lies in the quality both of their research and of their partnership with the business world.
In the most general sense, being a good manager is a matter of being marginally better than and different from your competitors. (0) …..H…….These are the elements which make the difference between a successful and a less successful manager. This marginal edge may be based on talent, flair or natural leadership. (9) …….. And this is where business schools come into their own.
The education of managers should include on-the-job training, workshops, conferences and training courses. (10) ……..Traditionally, business schools have three major differentiating characteristics. First, they offer a complete package ranging from basic to very sophisticated training. Next, they enable managers to benefit from the research they carry out. (11)………
In contrast to other providers of management education, business schools often offer a complete portfolio of educational programmes. MBA programmes exist alongside general management programmes, as well as specialised programmes for experienced managers. For the business school, this has the advantage that teachers can use the information they get from one programme to cross-fertilise with their teaching on another.
(12) ……. This in turn offers substantial advantages to the companies concerned. It means that managers and executives at different levels of the organisation can be confronted with the same concepts, expressed in the same language. In this way, a close partnership with a business school enables a company to create some coherence between the education and the development of its different management levels. People in the company will communicate more effectively because they use the same terminology. (13) …….. In short, thanks to contact with the business school, more people within the same company will be embracing similar ideas.
Obviously, the value of these concepts to the company increases if they are state-of-the-art concepts. (14) …… Only then can the company genuinely improve its management practice and competitive performance. Working with a business school is for many companies a privileged method of accessing the latest management thinking, before it is published in trade journals or popular books.