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1. Passage A Passage B Return to Menu

2. Passage A • Think About It • Read About It • Talk About It • Write About It

3. 1. What’s your first reaction to the word “retirement”, and why? Reference: The first word coming into my mind about retirement is “freedom.” If I were retired now, I would have enough time of my own to do the things I have dreamed of: I would travel around the world with my friends; I would build a cottage of my own beside a river in the countryside, I would go fishing and do some gardening in my leisure time; I would …

4. 2. Look at the people around you who have already retired. Are they happy? Why or why not? Reference: Looking around, we can see more and more retired people in our community. They are our parents, our relatives, or our friends. Some of them lead a happy life after retirement, others do not. It all depends on at least two things: health and income. Those who have enough money and are healthy enough can always enjoy their lives. But those who lack either of the two may have a hard time.

5. 3. What challenges do you think they may face after retirement? Reference: The retired may face at least in three aspects challenges: physical health; financial position and affectionate need. After a long time struggling all the way in their life career, many old people now suffer from poor health and need proper medical care, which is sometimes too expensive for them to afford. What’s more, society at large and their families in particular might be too cold and too indifferent to them at a time when they need affectionate care the most. Therefore, some people describe the dark side of retirement as accompanied by poverty, boredom and loneliness. Personally, I’m optimistic. With improvement of the social security system, we will find more and more happy retired people living in a warm, humane and loving social atmosphere.

6. Read About It • Language Points • Content Awareness • Language Focus

7. Facing the Fears of Retirement “The day you retire, you're finished — you’re dead.” This simple, widely believed statement was uttered often by a 77-year-old business founder even before he came out of retirement and took back control of the firm from his son. For many, retirement from the • business they built seems a matter of life anddeath. No wonder so few have the courage or the inclination to face it. This fear of retirement often shows up early in unwillingness or inability to engage in succession planning. We find three prevalent beliefs held by those who cannot conclude — or even begin — succession planning: • “Retirement scares me.” • “We could lose it all.” • “This business is who I am.”

8. Retirement is frightening. It is a new, uncertain journey --- at a time when peace in life is treasured. Personal financial security is a powerful motivator to keep control of the business. The inability to "let go" is even more difficult for those who founded their businesses at a time of unemployment or family poverty. For many who build successful enterprises, their business is their identity. It is said of one woman business owner, still in control in her 90s, that “work is her oxygen.” Some entrepreneurs started their businesses at least in part to prove themselves to former bosses who had rejected or doubted them. We find that they cling to their creations more strongly than most. For these reasons and others, too many business founders refuse to retire. They insist that only they are capable of running the business. Jealousy or insecurities relating to declining power generate interpersonal conflicts that spoil succession planning or even the performance of potential successors.

9. If an executive has not quite achieved what he had hoped, he often wants the opportunity to stay in the game. Rather than a graceful transition, the succession process can become a war. The parties to such a combat, however, should remember Winston Churchill's warning to the House of Commons: “If we open a quarrel between the past and the present, we shall find that we have lost the future.” Fortunately, many business owners manage to face succession planning —courageously, openly, and early. And because entrepreneurial succession is perhaps the most critical issue for family-business continuity, we're keenly interested in the makeup and background of those who do.

10. Our conclusion: It’s all a matter of outlook or attitude. Business owners who can plan succession and who can let go don't come necessarily from larger or smaller businesses. They don't come from businesses that are more or less fragile or that require more or less hands-on involvement. They don’t necessarily even have more or less qualified successors to whom they can turn over their creations. They just have a different outlook or attitude toward the subject. For them, the glass is half full, not half empty. Here are some attitudes about retirement that can help the process: “There’s life after succession.” Many business owners have personally observed the unhappy experience of someone else who “died in the saddle.” They had a partner or a friend who died young and never had a chance to retire. Or they succeeded parents who couldn’t let go, and now they can’t imagine imposing that oppression on another generation. These business owners see retirement as a stage in life they don’t want to miss.

11. “I’ve got so much I want to do!” We find those who plan succession properly are already eager to do more and different things at a relatively young age — 50 or 55. They are already active in new interests (for example, teaching, politics, another venture, or philanthropy) and are pushing the preparation of their successors so they have more time — full time — for these other activities. They don’t retire from their previous work but rather move up to new opportunities. “There was a business here before me.” In our experience, business owners who purchased their firms as part of a management buyout face succession planning more readily than business founders. It seems they recognize that presidents change but the business goes on. As one leader says, “I wasn’thanging onbecause I wasindispensableto the business but because the business was indispensable to me.”With that understanding, he found other ways to build meaning into his life and moved on.

12. Unfortunately, our culture does not provide acclaim for those who make the hard decision to do succession planning, even though so much is at stake. We worship founders, builders, chiefs --- but rarely do we read about or cheer those who gracefully and successfully turn their jobs over to their successors. That seems to be an even rarer talent and accomplishment. Perhaps that is the reasonmanagementauthority Peter Drucker refers to succession planning as a leader’s “final test of greatness.” And having passed that test, the leader goes on to new challenges and satisfactions. (826 words)

13. no wonder — not surprising • Examples • It is no wonder you’ve got a headache when you drank so much last night. • Traffic situation today was terrible, no wonder you were late.

14. successionn. — the coming of one thing or person after another in time or order • Examples • Who is first in succession to the throne is not yet clear. • The days followed each other in quick succession and still no news came. More to learn

15. succeedv. — be the next to take a position or rank • Examples • When the duke dies, his eldest son will succeed him on the throne. • Lord Davis succeeded Sir Hugh as chairman of the commission. More to learn

16. successorn. — person or thing that comes after and takes the place of (sb./ sth.) • Examples • Prince Martin, the first son of the king, is the only successor on the throne. • He will never tell you who the headmaster’s successor will be.

17. treasure — value (sth.) highly • Examples • I treasure the friendship between us. • From his reaction to your letter, I can tell he treasures your friendship.

18. identity — who or what sb./sth. is • Examples • The identity of the murdered woman has not yet been established. • The check will be cashed on proof of identity.

19. clingv. — hold on tightly to sb/sth • Examples • After 30 minutes’ walking in the heavy rain, his wet shirt clung to his body. • They cling to one another for comfort. More to learn

20. cling to: — be unwilling to abandon sth; refuse to give up sth • Examples • They clung to the belief that her son is alive. • She clung to the hope that she could pass the exam.

21. conflictn. — 1) struggle • Example • There is a serious dispute, which could lead to armed conflict. — 2) serious disagreement • Example • The two parties have been in conflict since the election. • The governor’s refusal to apply the law brought him into conflict with the federal government.

22. graceful — 1) pleasing in both style and attitude • Examples • The audience were deeply attracted by her graceful dancing. — 2) polite and considerate • Examples • A graceful apology may change the present unfriendly atmosphere between them.

23. processn. — series of actions or operations performed in order to do, make or achieve sth. • Examples • Reforming the education system will be a difficult process. • Coal was formed out of dead forests by a long slow process of chemical change.

24. courageous adj. — brave；fearless • Examples • It was courageous of her to oppose her boss. • He was known as a courageous person.

25. outlookn. — 1) person’s way of looking at life • Examples • Living in such an unhappy family, he has formed a very strange outlook on life. • What he needs most is a tolerant, forgiving outlook on life. More to learn

26. outlookn. — 2) view on which one looks out • Examples • The house has a pleasant outlook over the valley. — 3) what seems likely to happen; future prospects • Examples • According to the forecast, the weather outlook for the weekend is bad.

27. fragile — 1) easily damaged or broken • Examples • We’d better keep a distance between us or we may break the already fragile relationship between us. • No matter how eagerly pursued, human happiness is fragile. More to learn

28. fragile — 2) having a small thin body or weak in health • Examples • The old lady was very fragile after her operation.

29. turn over — 1) give the control or management of sth to sb • Examples • The confidential report has been turned over to the President. • They turned the wanted man over to the authorities. More to learn

30. —2) think about carefully; consider in various ways • Example • She turned the problem over in his mind. —3) (cause sb/sth to) face in another direction by rolling • Example • Though it was very noisy outside, she turned over and went to sleep.

31. in the saddle — on horseback; in a position of control • Examples • The director hopes to remain in the saddle.

32. impose — 1) force sb to accept • Examples • The magistrate imposed a fine of $500. • The company has imposed very strict conditions on the registrations of clerks. More to learn

33. impose — 2) to establish (an additional payment) officially • Examples • A new tax has been imposed on wines and spirits in the United States.

34. hang on — 1) grip sth firmly • Examples • Hang on to the strap; the bus is about to start. More to learn

35. hang on — 2) to continue waiting • Examples • Hang on a minute, I’m coming! • I’m afraid the line is engaged, would you like to hang on? — 3) to continue in spite of difficulties • Examples • I know you’re tired, but try to hang on a bit longer.

36. indispensable — absolutely essential • Examples • After years of hard work, she has become quite indispensable to the company. • A telephone is an indispensable piece of equipment for any office.

37. at stake — to be won or lost • Examples • This decision, made by the inexperienced manager, has put our company at stake. • If we lose the contract, hundreds of jobs are at stake.

38. worship — 1) strong usu. religious feelings of love, respect and admiration • Examples • Seeing the coming of the Queen, they bowed their heads in worship. — 2) feel love and admiration for (sb/sth) to such an extent that one cannot see his/its faults • Examples • She worshiped him so much that she refused to listen to his critics.

39. talent — 1) (instance of) special or very great ability • Examples • Owing to her remarkable talent for drawing, she was accepted by the famous artist as a student of his. More to learn

40. talent — 2) people who have a talent • Examples • At this critical moment, the only thing we can do is to pray for the appearance of a talent. • There was a lack of local talent, so the drama group hired an actor from London.

41. accomplish — succeed in doing sth.; complete successfully • Examples • Lazy as she is, she’s accomplished a great deal in the last few weeks. • Though it is necessary, I don’t feel our visit really accomplished anything. More to learn

42. accomplishment — successful completion；thing achieved • Examples • Being able to play the piano well is one of his many accomplishments.

43. management — 1) control and organization (of a business, etc) • Examples • The company’s failure was mainly due to bad management. • I will take the management course in this university. More to learn

44. management — 2) the people in charge of a company, industry, etc. • Examples • After a two-week strike, the workers decided to have talks with the management. • The union has agreed to talk with the senior management.

45. The inability to “let go” is even more difficult for those who founded their business at a time of unemployment or family poverty: Paraphrase “Let go” here means to follow the law of nature, to accept reality. The sentence means that those who have experienced unemployment or poverty would find more difficult to accept the idea of retirement from their position and their subsequent loss of power.

46. If we open a quarrel between the past and the present, we shall find that we have lost the future. Paraphrase This famous quotation first appeared in Winston Churchill’s speech to the House of Commons -- “Their finest hour” on June 18, 1940. At that time, the Germany Armies broke the French front, and the French troops and the British Expeditionary Force were forced to withdraw at Dunkirk with great loss. To call for more support of the House of Commons to send the British army to the front to fight against the enemy, Churchill warned that if they continued to hesitate about the necessity of it, the country might lose the future.

47. For them, the glass is half full, not half empty: Paraphrase “Half full” and “half empty” are two kinds of outlook of the world. “The glass is half full” means there is still hope, and the world is coming a better, richer place. It is optimistic. “The glass is half empty” means we have lost half of what we have, and the world is coming to an end. It is pessimistic.

48. I wasn't hanging on because I was indispensable to the business but because the business was indispensable to me. Paraphrase I held on to the business firmly not because the business could not go on without me but because I could not live without the business. Words to learn: hang onindispensable

49. Perhaps that is the reason management authority Peter Drucker refers to succession planning as a leade’s “final test of greatness.” Paraphrase This is the probable reason that Peter Drucker, the management authority, says that succession planning is the last test of greatness retiring business founders and bosses are facing. Words to learn: management

50. Content Awareness • Read and Choose (Ex. 2) • Read and Think(Ex. 3) • Read and Complete (Ex.4)