The authorities approved the new round of local infrastructure development.

4 When a prominent football club, whose shares were listed, announced that it was to build a new stadium on land

near to its old stadium, opinion was divided. Many of the club’s fans thought it a good idea because it would be more

comfortable for them when watching games. A number of problems arose, however, when it was pointed out that the

construction of the new stadium and its car parking would have a number of local implications. The local government

authority said that building the stadium would involve diverting roads and changing local traffic flow, but that it would

grant permission to build the stadium if those issues could be successfully addressed. A number of nearby residents

complained that the new stadium would be too near their homes and that it would destroy the view from their gardens.

Helen Yusri, who spoke on behalf of the local residents, said that the residents would fight the planning application

through legal means if necessary. A nearby local inner-city wildlife reservation centre said that the stadium’s

construction might impact on local water levels and therefore upset the delicate balance of animals and plants in the

wildlife centre. A local school, whose pupils often visited the wildlife centre, joined in the opposition, saying that whilst

the school supported the building of a new stadium in principle, it had concerns about disruption to the wildlife centre.

The football club’s board was alarmed by the opposition to its planned new stadium as it had assumed that it would

be welcomed because the club had always considered itself a part of the local community. The club chairman said

that he wanted to maintain good relations with all local people if possible, but at the same time he owed it to the fans

and the club’s investors to proceed with the building of the new stadium despite local concerns.

Required:

(a) Define ‘stakeholder’ and explain the importance of identifying all the stakeholders in the stadium project.

(10 marks)

Large companies need a way to reach the savings of the public.The same problem, on a smaller scale, faces practically every company trying to develop new products and create new jobs.There can be little prospect of raising the sort of sums needed from friends and people we know, and while banks may agree to provide short-term finance, they are generally unwilling to provide money on a permanent basis for long-term projects.So companies turn to the public, inviting people to lend them money, or take a share in the business in exchange for a share in future profits.This they do by issuing stocks and shares in the business through the Stock Exchange.By doing so they can put into circulation the savings of individuals and institutions, both at home and overseas.

When the saver needs his money back, he does not have to go to the company with whom he originally placed it.Instead, he sells his shares through a stockbroker to some other saver who is seeking to invest his money.

Many of the services needed both by industry and by each of us are provided by the Government or by local authorities.Without hospitals, roads, electricity, telephones, railway, this country could not function.All these require continuous spending on new equipment and new development if they are to serve us properly, requiring more money than is raised through taxes alone.The Government, local authorities, and nationalized industries therefore frequently need to borrow money to finance major capital spending, and they, too, come to the Stock Exchange.

There is hardly a man or woman in this country whose job or whose standard of living does not depend on the ability of his or her employers to raise money to finance new development.In one way or another this new money must come from the savings of the country.The Stock Exchange exists to provide a channel through which these savings can reach those who need finance.

1、The money which enables those companies to go ahead with their projects is().

A、exchanged for part ownership in the Stock Exchange

B、raised by the selling of shares in the companies

C、repaid to its original owners as soon as possible

D、invested in different companies in the Stock Exchange

2、All the essential services on which we depend are().

A、unable to provide for the needs of the population

B、financed wholly by rates and taxes

C、in constant need of financial support

D、run by the government or local organizations

3、The Stock Exchange makes it possible for the Government, local authorities and nationalized industries().

A、to make certain everybody saves money

B、to borrow as much money as they wish

C、to make certain everybody lends money to them

D、to raise money to finance new development

Which of the following is true according to the text?

A. The court is in charge of removing dangerous product.

B. New products are more likely to be questionable.

C. The production of a device must be approved by FDA.

D. The promoters usually just care about profits.

A. man’s

B. mans

C. men’s

D. mens

A. projected

B. proceeded

C. protested

D. proposed