List of top Language Comprehension Questions asked in Management Aptitude Test

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In a convention hall filled with auto executives who wish they could wake up to find the 2009 was just a bad dream, David Zuchowski and his colleagues at Hyundai were doing low-key victory laps. But while they plan in 2010 to pick up where they left off, they also tempered expectations that the US sales gains achieved by the Korean automaker can be repeated. "We will not have the same margin of difference that we did last year", David Zuchowski said at the Detroit auto show. "Our sales were up 8 percent in a market that was down 21 percent. There are a lot of things that happened with our competition, with our marketing, that really put us in a different area. We think for sure that we're going to grow our volume this year and we're going to grow our market share," he added. "If nothing else changes, and we held our 4.2 percent market share into 2010, we think that in itself accounts for 45,000 units of additional volume. And we think we're going to grow our share on top of that because we have some really terrific new products.
"John Krafcik, CEO of Hyundai's American, sales operations, said the first goal is to hold onto the market share gains of 2009. Last year, Hyundai's US sales rose 8.3 percent to 435,064 units. Its share of the market jumped to 4.2 percent from 3 percent in 2008. Hyundai expects US sales this year to hit 11.4 million, may be even 11.5 million units. US sales fell 21.2 percent last year to 10.4 million units. As US automakers in early 2009 were concerned about there oun survival "Hyundai Assurance" was introduced as a safety net for consumers afraid of losing their jobs. Just shy of 100 customers returned cars under a programme allowing buyers to walk away from loans without a negative mark on credit reports if they lost their jobs. The programme has been extended through 2010.
"It elevated our brand," Zuchowski said of the Hyundai Assurance programme. "People who never used to consider us now are." Car salesmen watch this "consideration rate," which is as it sounds-whether a consumer will consider a brand when making a purchase decision.
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The latest CSO data on economic growth in the States has thrown up a number of interesting trends, none perhaps more interesting than the catch-up trend shown by what were conventionally viewed as backward States-Bihar's 11% growth has already received much attention. A disaggregated look at the growth figures reveals an even more interesting fact-the huge role played by services in propelling growth in backward States. Bihar's 11% average growth figure between FY05 and FY09 (up from 6% between FY01 and FY05) hidest the massive 38.13% growth in construction (up from 14% between. FY01 and FY05), 17.34% growth in communication (up from 10% between FY01 and FY05), 17.33% in restaurants and hotels (up from 13% between FY01 and FY 05) all major services sectors, in the same period. The boom in construction, telephones (particularly mobiles) and hospitality in mirrored in other previously slow growing states, including Jharkhand, Madhya Pradesh and Orissa. What is even more important than the growth numbers themselves is the large number of jobs (particularly low skill and semi-skilled) that have been generated in the services sector industry. At a time when inclusive growth is the focus of government policy, such employment generating growth must be satisfying.
Impressive though the numbers are, it is easy to get carried a way by them. The fact of the matter is that services can only create a certain number of jobs and certainly not enough over a sustained period of time to absorb the entire workforce. Construction, for example, may eventually be limited by weak demand. The growth in communications was very impressive in these last five years because of the mobile boom, but that might plateau. Significantly, the numbers on agriculture growth remain very low and a significant proportion of India s population still depends on agriculture. Not all the excess labour from agriculture-which needs to move out to lift productivity-will be absorbed by services. So, industry/ manufacturing will still be the key to ensuring the kind of inclusive growth we need to boost backward States and to lift people out of poverty. But manufacturing needs radical policy attention in a way that services do not, to register rapid growth. The government, at the Centre and in States, needs to focus on labour laws, land acquisition and infrastructure. The strong growth in services, while welcome, should not become a reason to do nothing about promoting manufacturing and reforming agriculture. Healthy growth in those two sectors is needed to generate the demand that will eventually sustain services on a high growth path.
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What can the leader of a democratic country do when one quarter of its population presents a petition opposing repayment of foreign debt and backs it up with a mass protest outside his residence, with red torches firing up the snowy landscape? To stave off revolt and breakdown of order, the head of State has two options; repudiate the debt altogether to resore public faith in the government or buy time by resorting to constitutional technicalities.
Iceland's President, Olafur Grimsson, faced this dour choice on New Year's Eve in Reykjavik and picked the latter course because of tremendous parallel pressure from creditors like the UK and the Netherlands and capital markets. Instead of immediately signing the bill that would have repaid London and Amsterdam $5 billion or remouncing all liability, he announced a national referendum for a clear national verdict. The country's finance minister has expressed confidence that public opinion can be moulded fast in the run-up to the referendum, by appealing to the average Icelander 's identity of being "honest hard-working = people" who honour debts.
The two creditor nations, which are furious at the delays and setbacks to repayment, should be hopping for such an outcome because they themselves are cash-strapped and hurting from the aftermath of the financial crisis. The saga of Iceland's fall from the glorious perch of the Nordic Tiger into a supplicant that defaults on its debts is emblematic of the ripple effect of the financial collapse of late 2008. One of the first economies to fall into the red immediately after the Lehman Brothers bankruptcy, Iceland has risen since the mid-nineties on wave of excessive leverage facilitated by State deregulation. All three of its big banks- Glitnir, Kaupthing and Landsbanki-collapsed like dominoes in a single week of mayhem in October 2008.
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Buoyed by strong demand from automobile, infrastructure, consumer durables, and capital goods industries, the price of steel and profitability of steel firms are firming up. In addition to private demand, the government's stimulus packages have also helped. Analysts expect the margins of steel companies to expand by 500 basis points in the quarter ending December last year, because of the rally in the base metal prices. Crude steel production in the quarter ended December last year grew \(2.6\%\) and prices increased by \(2\%\) in the same period. Broadly, during April- December 2009, steel consumption grew by 8% and growth gathered momentum during the last three months partly due to the low base effect of the previous year. In fact, Indian steel- makers had reduced production by up to \(40\%\) in October- December 2008, as demand dropped significantly due to the slowdown and credit crunch. Even though fears of oversupply kept steel prices under pressure in the domestic market globally, too, companies had reduced the price of the metal-strong demand is now pulling up prices. Long product prices increased by nearly Rs 4,000 per tonne in the second half of December and analysts expect prices to rise by another Rs 1,000 per tonne this month. Even on the bourses, Tata Steel, JSW Steel. Sterlite and SAIL have outperformed the broader markets with gains of around \(55\%\) in the quarter ended December and the BSE Metal Index too outperformed the Sensex. Despite the global slowdown, demand for steel in the domestic market remained strong due to the quick recovery in the automobile industry and government spending on infrastructure projects. In fact, a recent note from Nomura Research says that steel companies in India have enjoyed high operating rates resulting in robust performances. Even globally, the World Steel Organisation says that the slump in steel demand has bottomed out and is expected to grow by \(9\%\) this year as demand rebounds in the US, Europe and Japan. The organisation expects steel prices to increase by \(10\%\) in the next three months and inventory build-up will take place in anticipation of an increase in raw material costs.