UNIT 5 – Business Brief

Fill in the gaps using the words from the box.

BECOME “EXTINCT”, PREDICT, FIXED – TERM CONTRACTS, EVEN, MAJOR IMPACT, REPLACE, TRANSITION, IS UNDERGOING

The way we work 1._________________ constant change as the world moves from the industrial age to the information age. In many industrialized countries, this 2._______________ is generally led to the loosing of relationships between employers and employees and far greater flexibility in terms of employment contracts and working hours with more people working on 3.__________________ and greater levels of self – employment.

Information and communication technologies, such as the internet and broadband connections, are having a 4._________________ on the way we work and will continue to do so in the future. Many jobs and careers will 5.___________________, and new ones will 6.________________ them. Other jobs will be transformed by technology out of all recognition in today's world. Experts 7._____________________ that most of today's children will be doing jobs in the future that do not 8.____________________ exist yet.

RECRUITING, LOW-SKILLED, OFFSHORE, FAVOURED, OPERATE, OPERATIONS, HOWEVER, ADVANCES, LABOUR COSTS

The trend of moving manufacturing operations to countries with low 9._______________ has exist for many decades. This drive towards increased productivity and lower production costs, combined with technological 10.__________________, has more recently allowed companies to outsource and 11._________________ other parts of their 12.__________________ to these countries and regions. Companies are now able to distribute their work around the globe and 13.________________ 24 hours a day, seven days a week.

According to the FT’s future of Work report, Asia is the top destination, with 37 per cent of outsourcing projects. But western Europe also benefited, with 29 per cent – the 14._______________ locations being the UK, Ireland, Spain and Portugal – and eastern Europe with 22 per cent, India has become one of the major suppliers of call centres for the Britain and the United States because of the huge number of English-speaking graduates. 15._________________ it is not only the 16.________________ jobs that are being transferred to Asia. Increasingly, multinationals are 17._________________highly skilled engineering and programming staff in Asian countries and transferring their research and development operations to these countries as well.

EXCESSIVE, MARKETEERS, EXPANDED, DEAN, MOBILITY, CONCERNS , AGEING, ECONOMIES, COMPREHENDED, INFORMAL, DIRECTIVES, DOMESTIC

Free 18.________________argue that European countries, like France and Germany, suffer from 19.__________________ labour market regulation, such as minimum wage legislation and EU 20.___________________ controlling working hours. In many eastern European countries, large-scale unemployment and the 21.____________________ economy are still major problems, and ones that the 22._____________________EU will have to find ways to deal with. Many predict there will be greater 23.___________________ of the workforce as people move from east to west to find work. Western Europe, Japan and the United States are all 24.____________________ societies. As the active workforce continues to fall in proportion to the total population, many have expressed 25.________________ about the impact that this will have on these societies.

India and China are now playing an increasing role in the world economy. According to Kim Clark, 26._________________ of Harvard Business School. ‚We simply have not 27.________________ yet the full impact of 2.5 billion people coming into the world economy who were not part of it before.‘ There is no doubt of the benefits and opportunities for these developing 28.__________________ that have invested in technology in terms of increased employment opportunities and economic development. Secondly, higher incomes in these developing economies not only benefit the 29.__________________ economy, but also the global economy, as these are huge potential markets for goods and services.

KEY

BECOME “EXTINCT”, PREDICT, FIXED – TERM CONTRACTS, EVEN, MAJOR IMPACT, REPLACE, TRANSITION, IS UNDERGOING,

The way we work 1. IS UNDERGOING constant change as the world moves from the industrial age to the information age. In many industrialized countries, this 2. TRANSITION is generally led to the loosing of relationships between employers and employees and far greater flexibility in terms of employment contracts and working hours with more people working on 3. FIXED – TERM CONTRACTS and greater levels of self – employment.

Information and communication technologies, such as the internet and broadband connections, are having a 4. MAJOR IMPACT on the way we work and will continue to do so in the future. Many jobs and careers will 5. BECOME “EXTINCT”, and new ones will

6. REPLACE them. Other jobs will be transformed by technology out of all recognition in today's world. Experts 7. PREDICT that most of today's children will be doing jobs in the future that do not 8. EVEN exist yet.

RECRUITING, LOW-SKILLED, OFFSHORE, FAVOURED, OPERATE, OPERATIONS, HOWEVER, ADVANCES, LABOUR COSTS,

The trend of moving manufacturing operations to countries with low 9.LABOUR COSTS has exist for many decades. This drive towards increased productivity and lower production costs, combined with technological 10. ADVANCES, has more recently allowed companies to outsource and 11. OFFSHORE other parts of their 12. OPERATIONS to these countries and regions. Companies are now able to distribute their work around the globe and 13. OPERATE 24 hours a day, seven days a week.

According to the FT’s future of Work report, Asia is the top destination, with 37 per cent of outsourcing projects. But western Europe also benefited, with 29 per cent – the 14. FAVOURED locations being the UK, Ireland, Spain and Portugal – and eastern Europe with 22 per cent, India has become one of the major suppliers of call centres for the Britain and the United States because of the huge number of English-speaking graduates. 15. HOWEVER, it is not only the 16. LOW-SKILLED jobs that are being transferred to Asia. Increasingly, multinationals are

17. RECRUITING highly skilled engineering and programming staff in Asian countries and transferring their research and development operations to these countries as well.

EXCESSIVE, MARKETEERS, EXPANDED, DEAN, MOBILITY, CONCERNS , AGEING, ECONOMIES, COMPREHENDED, INFORMAL, DIRECTIVES, DOMESTIC

Free 18. MARKETEERS argue that European countries, like France and Germany, suffer from 19. EXCESSIVE labour market regulation, such as minimum wage legislation and EU

20. DIRECTIVES controlling working hours. In many eastern European countries, large-scale unemployment and the 21. INFORMAL economy are still major problems, and ones that the

22. EXPANDED EU will have to find ways to deal with. Many predict there will be greater

23. MOBILITY of the workforce as people move from east to west to find work. Western Europe, Japan and the United States are all 24. AGEING societies. As the active workforce continues to fall in proportion to the total population, many have expressed 25. CONCERNS about the impact that this will have on these societies.

India and China are now playing an increasing role in the world economy. According to Kim Clark, 26. DEAN of Harvard Business School. ‚We simply have not 27. COMPREHENDED yet the full impact of 2.5 billion people coming into the world economy who were not part of it before.‘ There is no doubt of the benefits and opportunities for these developing 28. ECONOMIES that have invested in technology in terms of increased employment opportunities and economic development. Secondly, higher incomes in these developing economies not only benefit the 29. DOMESTIC economy, but also the global economy, as these are huge potential markets for goods and services.