Questions and Answers
Globalization involves the interaction and integration among people, organizations, and governments worldwide.
True
The American market saw a resurgence in 2003, and unemployment rates dropped significantly.
False
China is responsible for producing 24% of the world's steel.
True
Western Europe has experienced growth in its industrial sector over the past decades.
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South Korean companies have outperformed European shipyards by making their ships more efficiently and cheaply.
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Nearly all British coal mines have closed due to high production costs.
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High tech jobs have declined due to globalization.
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Most workers in the UK have found employment in the services sector.
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Globalization has not affected knowledge-based services.
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Globalization can be seen as a form of capitalist expansion that integrates local and national economies into a global, regulated market economy.
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Study Notes
Exporter Enjoys the Fruits of Learning Foreign Languages
- A&C Exports, a small company, successfully exported potatoes to Italy after teaching its staff to speak foreign languages.
- The company's annual export sales rose by 40% after improving its foreign language skills.
- Initially, the company used an interpreter to target Italy, but this was frustrating and limited in establishing relationships.
Karen Burdett: an Export Success
- Karen Burdett, a language specialist, joined A&C eighteen months ago and is the key to the firm's export success.
- Burdett improved her Italian language skills in four weeks by listening to Italian videos, reading newspapers, and watching videos.
- She established a strong relationship with clients in Italy by being patient and open about her language limitations.
Communication
Writing
- Types of letters: letter of enquiry, covering letter for a fax, and email
- Salutations and endings:
- Dear Sir/Madam -> Yours faithfully
- Dear Mr/Mrs/Miss/Ms+name -> Yours sincerely
- Best regards for business contacts you know well
CVs
- Common headings and categories:
- Marital status
- Referees
- Employment history
- Permanent address
- Educational history
- Skills
- Title
- Personal details
- Hobbies and interests
- Surname
- Qualifications
- Date of birth
Talking Business
Employment
- Economic activity is split into three broad sectors: agriculture, industry, and services.
Vocabulary
- Adjectives to describe jobs:
- Boring
- Reliable
- Creative
- Conscientious
- Trustworthy
- Worthwhile
- Ambitious
- Enthusiastic
- Secure
- Confident
- Challenging
- Dynamic
- Flexible
- Stressful
- Patient
Reading
The Industrial Revolution
- Britain led an industrial revolution from the 1750s to the mid-19th century, producing consumer goods for the world.
- Generations of workers spent their entire careers in the same workplace.
Globalization
- Most consumer goods are now made in the East, primarily in China or Vietnam.
- Manufacturing gravitates to countries with lower labor costs or more efficient production methods.
- The US economy recovered in 2003, but unemployment remained high due to the loss of 2 million manufacturing jobs.
The Impact of Globalization
- Globalization is the process of interaction and integration among people, organizations, and governments worldwide.
- Examples of globalization's impact:
- China has become a major producer of toys and steel.
- Western Europe has seen a decline in its industrial sector.
- South Korean companies outperform European shipyards.
- British coal mines have closed due to cheaper imports from Australia.
- High-tech jobs have become more prevalent.
- Most workers have ended up in the services sector.
- Globalization has even impacted knowledge-based services, threatening outsourcing of jobs.
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Description
A small company's export sales rise by 40% after teaching staff foreign languages. Learn how language skills can boost business.