On the eighth of August 1991 ， the company left their old wood-panelled offices .（12） Since then they have cut in half the “ time to market” on new products. The following year， sales and profits grew more than ever before. （13） in fact， despite a downsizing of 15 per cent employee satisfaction is hitting record highs.
Oticon has created an organizational pattern that supports great freedom iof action for individuals and terms. They have tied it together with a minimum hierarchy.
The first clear results to show up were in the greater efficiencies generated by the fact that less time needed to be spent on management activities . （14） they also have some investment in the success of the project they choose. Oticon has succeeded in breaking the mould mould and taking a lead in non-bureaucratic organizational design.
Example ：
A This saving was possible because when people have real choice in the nature of their jobs， they commit themselves to being responsible for their areas of choice.
B They were headed for a new building and a new era in communication.
C Instead， they have large private areas on their hard disks for their correspondence.
D In spite of this， the physical office layout at Oticon is one of its most charming features.
E Over 90 per cent accepted ， and they organized a club to help one another learn.
F To facilitate this， the on-site coffee bars have now become the venue for about twenty meetings a day， averaging ten minutes and 2.7 participants each.
G So， are people happy with the change“
H Only about ten documents a day， items like legal contracts， escape this treatment.
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PART THREE Questions 15– 20
●Read the following article about the development of the knowledge economy and the questions on the opposite page .
●For each question 15 – 20 ， mark one letter （A， B， C or D ） on your Answer Sheet for the answer you choose.
There have long been markets in tin， cocoa， silver and the like. There used to be security in thinking that somewhere there was a product， something you could touch and see. Now there are new markets in abstractions， trade in ideas and knowledge. Everyone has knowledge but there used to be no way t o trade it ——except through jobs. That simple fact of economic life was the basis for white collar employment for centuries. The whole job culture grew up because there was no alternative way to sell knowledge ， other then
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