Passage Two

　　Questions 61 to 65 are based on the following passage.

　　Kodak’s decision to file for bankruptcy (破产) protection is a sad, though not unexpected, turning point for a leading American corporation that pioneered consumer photography and dominated the film market for decades, but ultimately failed to adapt to the digital revolution.

　　Although many attribute Kodak’s downfall to “complacency (自满),” that explanation doesn’t acknowledge the lengths to which the company went to reinvent itself. Decades ago, Kodak anticipated that digital photography would overtake film—and in fact, Kodak invented the first digital camera in 1975—but in a fateful decision, the company chose to shelf its new discovery to focus on its traditional film business.

　　It wasn’t that Kodak was blind to the future, said Rebecca Henderson, a professor at Harvard Business School, but rather that it failed to execute on a strategy to confront it. By the time the company realized its mistake, it was too late.

　　Kodak is an example of a firm that was very much aware that they had to adapt, and spent a lot of money trying to do so, but ultimately failed. Large companies have a difficult time switching to new markets because there is a temptation to put existing assets into the new businesses.

　　Although Kodak anticipated the inevitable rise of digital photography, its corporate (企业的) culture was too rooted in the successes of the past for it to make the clean break necessary to fully embrace the future. They were a company stuck in time. Their history was so important to them. Now their history has become a liability.

　　Kodak’s downfall over the last several decades was dramatic. In 1976, the company commanded 90% of the market for photographic film and 85% of the market for cameras. But the 1980s brought new competition from Japanese film company Fuji Photo, which undermined Kodak by offering lower prices for film and photo supplies. Kodak’s decision not to pursue the role of official film for the 1984 Los Angeles Olympics was a major miscalculation. The bid went instead to Fuji, which exploited its sponsorship to win a permanent foothold in the marketplace.

　　61. What do we learn about Kodak?

　　A) It went bankrupt all of a sudden.

　　B) It is approaching its downfall.

　　C) It initiated the digital revolution in the film industry.

　　D) It is playing the dominant role in the film market.

　　62. Why does the author mention Kodak’s invention of the first digital camera?

　　A) To show its early attempt to reinvent itself.

　　B) To show its effort to overcome complacency.

　　C) To show its quick adaptation to the digital revolution.

　　D) To show its will to compete with Japan’s Fuji Photo.

　　63. Why do large companies have difficulty switching to new markets?

　　A) They find it costly to give up their existing assets.

　　B) They tend to be slow in confronting new challenges.

　　C) They are unwilling to invest in new technology.

　　D) They are deeply stuck in their glorious past.

　　64. What does the author say Kodak’s history has become?

　　A) A burden. B) A mirror. C) A joke. D) A challenge.

　　65. What was Kodak’s fatal mistake?

　　A) Its blind faith in traditional photography.

　　B) Its failure to see Fuji Photo’s emergence.

　　C) Its refusal to sponsor the 1984 Olympics.

　　D) Its overconfidence in its corporate culture.

　　Part IV Translation (30 minutes)

　　Directions: For this part, you are allowed 30 minutes to translate a passage from Chinese into English. You should write your answer on Answer Sheet 2.

　　古时风筝被称为”鹞(sparrow hawk)”，在中国北方也称为”鸢(glede)”。春秋战国时期(Spring and Autumn Period)，东周哲人墨子(Mo-tse)，曾”费时三年，以木制木鸢，飞升天空”，但这只木鸢只飞了一天就坏了。墨子制造的这只”木鸢”就是中国最早的风筝，也是世界上最早的风筝，距今已有2400年。唐代时，风筝传入朝鲜、日本等周边国家。13世纪，意大利探险家马可·波罗从中国返回欧洲后，中国风筝便开始传到世界各地。