miércoles, 9 de abril de 2014
Task 3
Task 3
Read the following article
http://www.ticotimes.net/2014/04/08/bank-of-america-intel-announce-thousands-of-layoffs-in-costa-rica
Then:
Write 10 keywords related to the article. Look the words up in the dictionary if you do not know their meanings fully. Next to each word, write the part of speech (adjective, verb, noun, adverb, preposition, etc).
And:
In a 25 lined comment give oyur personal opinion about this current situation and the different positive and negative implications to our country.
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key words: high tech industries, Intel, microchip manufacture, Bank of America, investment, engineering, layoffs, workforce in CR, CINDE,
ResponderBorrarThe closure of these companies means that professional un some unprofessional in different areas will need to find another job, but it will not be easy, because our country in 2012 had a 7,8% of unemployed index. But now it will be worst.
I think that government must create a strategy for attract new international companies, and also support new bossiness in ideas for green technologies, services, investigation and others that can help us to get a better country. It is important the banks can help to support ideas with high level of success, this can create new business and employees.
These experience could leave us a good lesson, that international invest are not forever and that we must try to be entrepreneur for supply are needs.
Intel leave a good things, like a safety culture, quality culture and others in people who worked there, that is positive. But the bad thing is that left 1500 unemployed people who maybe had family to attend.
Thanks
Task 3
ResponderBorrar1. microchip manufacturer in Costa Rica
2. layoffs between the two companies.
3. Intel confirmed the closure of its manufacturing facilities manufacturing facilities
4. it closes its service center
5. not immediately clear if the financial institution’s decision
6. financial institution’s decision to close was related to Intel’s
7. runoff election handily Sunday, met with Intel Vice President
8. conditions in the national market for foreign investment.
9. In March, Solís told a meeting of the Costa Rican Investment Promotion Agency
10. to raise taxes on companies operating in free trade zones
Personal Comment
Each thing in the life has its time under heave says Holy Bible in one fragment of Ecclesiastes Book. With this idea I would like to begin my thoughts around Intel and Bank of America’s announcements. Since 17 years Intel has established its operations here in Costa Rica. As a dynamic of development this event has been remarkable for our economy. Exports Activities has increased and our economy model changed with this investment injection to Costa Rica. Operations in any company are healthy if, and I insist, if cost operations, incomes, profits growth in accordance sales budget plans for each company. Companies exists to produce money, and this goal will be achievable if cost fall down while incomes go up, this inverse relation must be fulfillment if not business going to bankrupt. This phenomenon has been studied for Intel and Bank of America not since January, since at least 2 or three years ago. It is not fair relate this business strategy with national election in Costa Rica there is no correlation. Costa Rica is a paradise not just for nature; however, high quality manpower, social charges, and facilities services are among the more expensive than other countries in the region. That is an competitive advantage because quality products is granted but high cost is a criteria to change business in the world, for instance, China despite its low quality, cost has become competitive advantage to transfer processes to Asia. Finally lessons learned here is not depend on few companies, we need to develop our economy in diverse fields to avoid put eggs in one nest.
Thanks
This is a very important situation for our country, because a lot of people are now unemployed; and other are going to be in that situation in short period of time; so; with a scenario like this we must understand that the problem is not only related to salaries; because this situation is bigger than what people are thinking; in fact, we must understand and see all the situations from a social, economic and strategic perspective; I mean; from the social perspective, the problem could be about the job offers; and for instance I see two options; the first one related to the competition from contestants; and the second one relate to the salaries, because when you have a lot of options you apply the rule of the price, and this rule is not necessarily good for our society; because in certain way we can lose some purchasing power as a society; but by the other hand; it could be an opportunity to improve the contestants skills, and it could give us a high qualify work force; and as a country we become more attractive to investors; so is for these reasons that I think we need a strategy that give us the way to attend all the factors and opportunities that we could face.
ResponderBorrarTask 3
ResponderBorrar1. Hard hit: Costa Rica’s high-tech and service industries took a hard hit
2. Closure: the closure of its manufacturing facilities in Costa Rica
3. Roughly: Intel and Bank of America announced roughly 3,000 layoffs between the two companies.
4. To swirl: after rumors started to swirl during the election weekend
5. Downsizing: the financial institution’s decision to close was related to Intel’s downsizing.
6. Taxes: he had no plans to raise taxes on companies operating in free trade zones
7. Eager: Eager to distance Intel’s decision to reduce its workforce in Costa Rica
8. Minister: Presidency Minister Carlos Benavides
9. Foreing: foreign investment
10. Reinforced: Solís reinforced his incoming government’s commitment to attracting and maintaining foreign direct investment in Costa Rica.
Keywords: high-Tech,layoffs,clousure,lost jobs,restructuring,handily,runoff,raise, taxes, eager.
ResponderBorrarCosta Rica’s high-tech and service industries
Announced roughly 3,000 layoffs
Closure of its manufacturing facilities
1,500 jobs would be lost as it closes its service center
the restructuring would be complete
Who won Costa Rica’s runoff election handily Sunday
had no plans to raise taxes on companies operating in free trade zones
Eager to distance Intel’s decision to reduce its workforce
1. Two important companies in Costa Rica announced layoffs for this year.
ResponderBorrar2. Solís is the new president in Costa Rica and he ennounces his incoming government’s commitment to attracting and maintaining foreign direct investment in Costa Rica.
3. European manufacturers are using manufacturing facilities in China to supply the global market.
4. The layoffs provoke swirling news.
5. companies operating in free trade zones have a benefits to raise taxes.
6. The stability of the country and the engineering specialization helps attract medical supply manufacturers.
7. The high-tech manufacturing sector have gained importance in national economy.
8. The service sector will be one of the motors of the national economy.
9. The layoffs could be normal after a company restructuring.
10. Costa Rica has been working to open the country’s economy to foreign investment
I am sure, the decision by Intel to close its plant in Costa Rica has caused a big impact in all the country. This company and its history from 1996 represents until now part of the economical history from Costa Rica and the decision of close the plant is remarkable. The principal cons of this situation is the fact that the 21 parent of Costa Rica’s exports (in 2013) were microprocessors. In the next years we will lost this commodity in our exports. Furthermore, microprocessors contributed just over half of the total of Costa Rica's high-tech exports, so we can find other solutions to maintain our economy in save.
ResponderBorrarTo the other side, Intel leaves us a different way to work, more than 1500 people with very good technical and managerial skills and the advise that it is necessary to work non only in one sector and in one important company. I mean, it is necessary to improve the foreign investment but also the Costarrican Small and Medium Enterprises
Costa Rica is a country that competes in the global market as a high-tech service industry provider. And actually the new country brand “Costa Rica, essential” tries to emphasize our capacities and potential in the industry of technology. Nowadays one of our principal incomes as a country comes from the exporting of services and share services produced in Costa Rica to the region. As the president of the Costa Rican Investment Promotion Agency (CINDE) said Costa Rica’s high-tech manufacturing sector had helped develop a service sector “that has been one of the motors of the national economy and continues to demonstrate an important dynamism with 140 companies.”
ResponderBorrarIntel, more than a big impact for the exportation growth, represents a confident example for others companies that have planned to invest in Costa Rica.
In this sense, the closure of the Intel manufacturing facilities in Costa Rica, is a very bad news for our economic growth, and for our expectations in the global market. Maybe, this decision will cause that less companies come to invest in Costa Rica. Moreover, we will see raise the level of unemployment and for many people who lost their jobs will be affectation in their economic welfare.