Objective
This exercise will help you strengthen your reading comprehension and business vocabulary by completing a realistic year-end business report. You will practice understanding key business terms and selecting the correct words to maintain logical flow in a formal document.
Vocabulary
| Word | Definition |
|---|---|
| Issue | A problem or challenge that needs to be solved. |
| Maintain | To keep something at the same level. |
| Improve | To make something better. |
| Arrange | To organize or plan something. |
| Delivery | The process of sending or receiving goods. |
| Increase | To become larger in number or amount. |
Reading Passage
End-of-Year Business Report – 2024
TO: Management Team
FROM: Financial Department
DATE: March 3, 2025
SUBJECT: Annual Business Performance Review
As we complete the 2024 fiscal year, I would like to summarize our company’s financial performance and key points for next year.
This year, we saw strong sales growth, with total revenue increasing by 6.5% compared to last year. This success was mainly due to higher international demand and cost-saving measures. However, we also faced some ________ (1) in supply chain management, which led to delays in product delivery.
To solve this, we worked closely with suppliers and improved our logistics process. As a result, we were able to ________ (2) stable profit margins, and our financial performance remained strong.
Another important achievement was the introduction of new digital tools. These systems helped us ________ (3) efficiency in our daily operations by reducing paperwork and improving data accuracy.
For the upcoming year, our goals are to expand into new markets, strengthen our customer service, and continue improving internal processes. Your hard work has been essential to our success, and we appreciate your dedication.
If you have any questions, please ________ (4) a meeting with your department manager.
Questions
1. Which word best completes the sentence?
“However, we also faced some ______ in supply chain management, which led to delays in product delivery.”
A) issues
B) results
C) improvements
D) increases
2. Which word best completes the sentence?
“As a result, we were able to ______ stable profit margins, and our financial performance remained strong.”
A) increase
B) maintain
C) complete
D) affect
3. Which word best completes the sentence?
“These systems helped us ______ efficiency in our daily operations by reducing paperwork and improving data accuracy.”
A) remove
B) improve
C) deliver
D) cancel
4. Which word best completes the sentence?
“If you have any questions, please ______ a meeting with your department manager.”
A) arrange
B) follow
C) cancel
D) send
Answer Key & Explanations
A) issues – “Issues” refers to problems, which makes sense in the context of supply chain management difficulties.
B) maintain – “Maintain” means to keep something steady, which is the best fit for stable profit margins.
B) improve – “Improve” means to make something better, which works well for increasing efficiency.
A) arrange – “Arrange a meeting” is the correct phrase when scheduling a discussion.
