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•Read the article below about small high-tech firms.•For each question 31—40, w
•Read the article below about small high-tech firms.•For each question 31—40, w
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2025-05-30
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•Read the article below about small high-tech firms.
•For each question 31—40, write one word in CAPITAL LETTERS on your Answer Sheet.
SMALL HIGH-TECH FIRMS
The problems of small high-tech firms have attracted a lot of attention recently. Research shows that many of these firms are built BY talented, creative scientists. Their owners have no trouble coming (31) with innovative products but they often can’t build on their early success.
One reason (32) this is that they don’t have much management expertise. Therefore, they are unable (33) develop the strategies which are necessary for their company’s growth. They are (34) a rush to develop products, and don’t think enough (35) how to market them. When they do try to sell their products, they spend too much time trying to gain the trust of potential customers. Another mistake they make is to underprice their products so that they have no finance (36) future development.
Once the firms begin to grow, their owners underestimate the future costs of developing and marketing new products. Lack (37) financial planning is a major weakness of such companies. It is difficult for the high-tech firm to attract the right personnel because it cannot offer the same job security (38) a large organization. The high tech firm can get round some of these problems by developing a specialist image. It can aim (39) a particular segment of the market. Customers then start seeking (40) the firm, se its marketing costs are reduced. The only drawback is that it may take some time before customers accept the firm’s new technology.
Enthusiasm, bright ideas, venture capital and technology are not enough to ensure success. Basic management skills—especially financial and marketing ones—are also vital. [br]
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