【正文】 nother pany would find difficult to achieve quickly by internal means. (11)In consumer goods industries, costefficiency is usually the reason for an acquisition. Acquisition can also be driven by the expectations of key shareholders. Shareholders usually expect to see continuing growth, and acquisition may be a quick way to deliver this growth. But there are considerable dangers mat an acquisition can lower share price rather than increase it.(12) This is more likely when the decision to acquire is speculative as opposed to strategic. There are some shareholders who favour acquisition simply to bring a shortterm boost to share value.Example: 0A B C D E F GA The necessary development and organisational learning would be too slow.B In the same way, an organisation can increase manufacturing opportunities.C Indeed, this is one of the major reasons for the more speculative acquisitions that take place.D It may be that the parent pany may not have sufficient understanding of the acquired business, and this could remove value.F For example, a pany may be taken over for its research and development expertise.G If, however, the pany enters by acquisition, the risk of reaction from industry rivals is reduced.F In some cases, a market is changing so fast that acquisition bees the only way of successfully breaking into it.PART THREE Questions 1318? Read the article below about changing attitudes to creativity in the workplace,and the questions on the opposite page.? For each question (1318), mark one letter (A, B, C or D) on your Answer Sheet.CREATIVITY IN THE WORKPLACENowadays, many UK panies are striving to be more creative. But according to a recent survey of senior managers, the lack of a cando mentality amongst employees and an aversion to risk is hindering British business. Many think there is too much focus on delivering results quickly, which leaves insufficient time to think creatively. Some plain that a lack of coherent vision on creativity prevents their organisation from being more innovative.Yet while senior managers may regret the lack of creativity, they musttake much of the blame for creating the situation. Until recently successivemanagement science, ‘ promoting creativity means reevaluating most of what we know about management. It means organisations must be prepared to invest in ideas without being sure of the return on that Investment.’ Katrina Murray agrees with this view.‘Businesses are expert at the measuredapproach, which involves analysis and risk avoidance. But there is another approach, which involves intuition andnot always looking at the bottom line. What is hard is establishing a working environment in which both theseapproaches can function simultaneously.’Nevertheless, there are somegenerations of management ignored innovative ideas from employees. Indeed, new ways of thinking were often regarded as an unwanted distraction, and original thinkers received little support. Despite the fact that many organisations are now taking steps to reorient the business culture to promote creativity, it is not surprising, given this background, that a creative environment is hard to establish.Another related issue is raised byKatrina Murray, a partner in a management consultancy:‘While manysenior managers still plain about the lack of support for creativity in their organizations, they also fail to appreciate the contribution that they themselves can make. In some panies, there is a perception that only managers at board level can influence the pany culture.’ Murray feels that such organisations areunlikely to change. For her, ‘creativeorganisations are made up of individuals who believe they can dictate their ownfuture. Companies need to be able to spotthese individuals and gently encourage them to lead the way.’It is also necessary for seniormanagers to reexamine their role. According to Alex Sadowski, an American professor of area. Many thepleasing indicators of progress in this of senior managers interviewed in the survey say their organisations have adopted a number of strategies to encourage individuals to channel their creativity. Among these are giving open and honest feedback, allowing employees the freedom to measure their performance against more flexible goals, and higher toleration levels of failure. Senior managers also recognise that the way an organisation is led and managed is critical to building a creative environment and that they themselves have an important role to play.But there are some experts who believe an even more fundamental changeis needed. Tom Robertson, a professor of creative education, believes that the lack of creativity in panies is a problemthat originated in schools and universities. The solution, he says, lies in more enlightened educational policies.‘There are already signs of this, but creativity is still concentrated in certainsectors, such as pharmaceuticals,advertising and the media. These sectors have always valued creativityg but the real challenge will be to shift some ofthese sectors’ practices into more traditional manufacturing and service panies.’13 Many senior managers feel that organisations have difficulties innovating because ofA a poor level of skills among employees.B an emphasis on rapid achievement.C an increased risk associated with change.D an insistence on a standard pany philosophy.14 According to the writer, many organisations today areA finding it easier to introduce a creative approach.B having problems understanding innovation as a concept. C actively developing the conditions for a creative approach. D resisting innovativ