Report reading and discussion

Post date: Jul 21, 2018 1:39:14 AM

SOCIOECONOMIC CHANGE HAS BROAD IMPACT

A sluggish economy, a dramatic increase in the population aged over 65 years, internationalisation and unprecedented affluence are challenging Japan’s socioeconomic fabric. At home, at work and at leisure, rising expectations and changing attitudes are affecting the labour market, the role of women and consumer preferences.

The rising share of the elderly in the population will have the broadest impact. Indeed, it is the imperative underlining many current reforms. With one third of Japanese expected to be over 65 years of age in 2040, double the 1995 level, and with the population peaking around 2010, Japan must prepare for a potentially serious labour shortage, declining savings and investment, and heavy pressure on health and welfare facilities. Companies are already preparing for the opportunities, targeting the ‘silver market’ with a range of new goods and services. The need to bolster national savings to fund future retirees is also influencing macroeconomic policy.

Family life is changing as nuclear families replace extended families as the norm, and more people live alone. Consumers are increasingly sophisticated and discriminating, demanding value-for-money above all. This has altered the traditional preference for Japanese-made goods and has intensified competition.

Labour practices are undergoing fundamental changes as companies endeavour to become more efficient and innovative in a fiercely competitive business environment. Performance and merit will increasingly determine advancement, better suiting a younger generation seeking more rewarding careers and workers willing to retrain to meet increasingly sophisticated employment needs. With the looming labour shortage, some companies have begun to evaluate how they might better utilise female employees. In addition, the stigma of working for foreign companies is fading as ambitious younger people value their more flexible, merit oriented labour practices, making it easier for foreign firms to recruit quality staff.

(Taken from the Executive Summary https://www.instate.com.au/new_japan.pdf

Your tasks:

1) Read the article above and discuss it generally to make sure you understand the technical terms and vocabulary....

2) Summarise each of the 3 main paragraphs above by creating a verbal report for each paragraph that includes:

- What is the key idea in the paragraph?
- Where and when are the changes experienced?
- Who is effected by these changes?
- Why do these changes effect you in your work? Your company future? Your Life?

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