Podcast
Questions and Answers
Globalization involves the interaction and integration among people, organizations, and governments worldwide.
Globalization involves the interaction and integration among people, organizations, and governments worldwide.
True (A)
The American market saw a resurgence in 2003, and unemployment rates dropped significantly.
The American market saw a resurgence in 2003, and unemployment rates dropped significantly.
False (B)
China is responsible for producing 24% of the world's steel.
China is responsible for producing 24% of the world's steel.
True (A)
Western Europe has experienced growth in its industrial sector over the past decades.
Western Europe has experienced growth in its industrial sector over the past decades.
South Korean companies have outperformed European shipyards by making their ships more efficiently and cheaply.
South Korean companies have outperformed European shipyards by making their ships more efficiently and cheaply.
Nearly all British coal mines have closed due to high production costs.
Nearly all British coal mines have closed due to high production costs.
High tech jobs have declined due to globalization.
High tech jobs have declined due to globalization.
Most workers in the UK have found employment in the services sector.
Most workers in the UK have found employment in the services sector.
Globalization has not affected knowledge-based services.
Globalization has not affected knowledge-based services.
Globalization can be seen as a form of capitalist expansion that integrates local and national economies into a global, regulated market economy.
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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