Understanding core components of academic literacy/skills
The term Brexit means British exit. It is the prospective withdrawal of the UK from the European Union. According to the referendum of 23 June 2016,52% of the UK electorate decide to leave UK.This exit of the British will effect the EU market with massive employment crisis.
The possible threat to the job market is immense. With the effect of Brexit, the economy of EU is overserving and experiencing a massive shrink in the workforce. The market is already seeing a shortage in IT, care work and engineering skilled people. One of the major impact of the Brexit is the difficulty I the process of recruitment by the human resource department of the organizations. It has been really difficult for the human resource department to search for new talents and recruit new employees and retain the older ones.
The UK Business should do an assessment regarding the impact of Brexit on the new and existing contracts, regulatory permissions and relationships.
Discuss the graph in the previous page with other students. Focus your discussion on the points below:
1.A description your data (What is it? Where does it come from? What area is it focussing on?).
2.A summaryon what the data shows in general.
3.One or two areas of the data looked at in detail and an explanation of why you think they are significant.
4.The important trends and differences/comparisons in the areas you have chosen.
5.Possible explanations for what the data is showing (remember to reference wider research to back your ideas up).
6.A recommendation for further action that could arise from this data.
Individually,analyse the graph below. Writea paragraph including the areas in the box above. Remember to refer to the graph/chart using correct OSCOLA or Harvard style in-text citation.
The graph above describes the negative impact of the Brexit on the job market of the UK. The human resource department of all the small ad the big organization are finding it difficult to recruit new talents since all the employees who were working in the British firms are hesitant to join them. Furthermore, retention of the old employees in the organization has been challenging. The non-residents of UK and the migrants are flying down to join the headquarters of the company post Brexit.
- Title page: including your name and title
- Give a very brief overview of what your 7-minute presentation will cover
- Introduction: Identify one point from your assignment and say why it is a key point
- Briefly describe how leaving the EU will impact on this
- What is one potential opportunity it could create?
- What is one possible problem? ( 1min 30s)
- What can you conclude from this? What are the implications/ your recommendations?
You should refer to evidence/ research throughout your presentation.
Be prepared to answer questions at the end of your presentation.
Provide evidence here to show that you have planned your presentation. This could take the form of a detailed plan or PowerPoint slides (no PDF files).
Application of critical thought and self-reflection
The Britain voted to leave the EU on 2016.It is important to analyse the possible effects of Brexit on the economy of UK since it may hot the economic production growth of the country.
Leaving of Brexit will take a hot on the procedure of business of the country. Furthermore, the economy will definitely lose access to the single market. The impact of Brexit on the employment and labour is immense and it will reduce the foreign investment in the economy. One of the potential benefit or opportunity Brexit creates is the freedom and easy access to make trade agreements.
Thus it can be concluded that the effect had both good and bad impact on the economy.
How clear, complete and informative was the presentation?
Well presented and organized
How enjoyable / interesting did the audience find it?)
How well-structured was it? How well did the visuals support it?
How slick and professional was it?
How clear, complete and informative was the presentation?
How enjoyable / interesting did the audience find it?
How well-structured was it? How well did the visuals support it?
How slick and professional was it?
What could you do better in future presentations?
Write your report or essay here (please do NOT insert PDFs or screenshots). You can find your specific question related to your subject area on the Academic Skills page on GSM Learn in the assessment section.
Law students with a proven academic offence (as outlined above) are reported to the Solicitors Regulation Authority and The Bar Council, which can prevent a student from being admitted into the legal profession.
The possible effects of the export business of UK due to the Brexit might take a hit due to the higher tariffs and the costs. This effect can be positively seen in the procedure of supply chains.
Some of the possible costs of Brexit to the UK Business includes Exports of UK will take a hit; according to reports and researches UK exported some of the goods worthing £133 billion which is almost equal to the half of the good exported to the world[Jensen, Mads Dagnis, and Holly Snaith. “When politics prevails: the political economy of a Brexit.” Journal of European Public Policy 23.9 (2016): 1302-1310.
One of the economic effects of Brexit is chances of less free trade with the EU. While leaving EU, the market of UK is more likely to face trade diversion and a negative impact on the export industry of the UK. Another factor to note is the inward investment. The EU is one of the major source and target for the inward related investments. This is because the UK earns numerous revenues from the various European companies who have invested in UK. According to the reports of 2014, BMW warned its employees of the potential tendency of job loss due to Brexit. Next most important factor is the free movement of labour. One of the political problem is the migration of eastern European workforce in UK. This particular issue has formed stress in the population of the nation. Further the labour market of the nation is tend to be less flexible. According to the reports,there are almost 2 million Britons who resides in EU for the job purpose.
Use of appropriate technologies for self-analysis
On the context of Brexit, the value of the pound has drastically fallen by 15% which directs the pessimistic view of the markets targeting the long term prospects related to economic growth in the market of UK[Dhingra, Swati, et al. “The impact of Brexit on foreign investment in the UK.” BREXIT 2016 24 (2016).
The sudden devaluation in the pound sterling index has created a cost push inflation in the market. This has led to rising prices and decreasing cost of the money which furthermore resulted in unemployment and job loss in the UK economy. The continuing weakness and fall of the currency at UK is exacerbated by the economic stimulus measures and interest rate cuts. Furthermore, reduced standards of living in the UK has been a problematic situation due to the low wage growth rates. Another of the most important factor of Brexit is the UK inflation[Hunt, Alex, and Brian Wheeler. “Brexit: All you need to know about the UK leaving the EU.” BBC News 25 (2017).
The uncertainty and the political wrangling in the UK triggers the economic downturn.Another notable concern of the economy of UK is the poor performance in the rate of productivity. Some of the underlying factors inducing stagnant and decreased rate of economic growth and productivity rate are impacts of fiscal austerity, global fall in the productivity and uncertainty over the Brexit[Portes, Jonathan, and Giuseppe Forte. “The economic impact of Brexit-induced reductions in migration.” Oxford Review of Economic Policy 33.suppl_1 (2017): S31-S44.
The impact and the effect of the Brexit on the business and the economy of the UK will rely on the negotiation statement between the UK and the EU. During the case of soft Brexit, the UK remains in the monopoly market and have to maintain elements of the regulations and law of the EU. This will furthermore facilitate trade among the two nations.In case of hard Brexit,the cost of the export and import will rise. In the current scenario, the UK is experiencing a dampen economic growth and it has potentially made UK a less attractive location for the foreign direct investments.
Soon after the implementation of Brexit, there has been rising controversy about its impact in the human resource and employment opportunities. Increased tendency of job loss and failed attempt to search for new talents by the human resources are some of the common scenarios.
The effects of the Brexit will impact the economy of UK for long. It mainly depends on the various trading arrangements that are made. The aftermath of Brexit reduced the living standards and economic levels[Wadsworth, Jonathan, et al. “Brexit and the Impact of Immigration on the UK.” CEP Brexit Analysis 5 (2016): 34-53.
UK has been facing a very poor growth of the productivity that has been resulting in deterioration in the public finances of the economy. The effects of Brexit will sure make some significant challenges in relation to the human resources in the UK economy. Thus, it can be concluded that the effects of Brexit on the business and the economy of the UK is dependent on the negotiations among the UK and EU.UK’s capability to pull in the investment market will definitely continue irrespective of the Brexit.
Reference list:
Dhingra, Swati, et al. “The impact of Brexit on foreign investment in the UK.” BREXIT 2016 24 (2016).
Hunt, Alex, and Brian Wheeler. “Brexit: All you need to know about the UK leaving the EU.” BBC News 25 (2017).
Jensen, Mads Dagnis, and Holly Snaith. “When politics prevails: the political economy of a Brexit.” Journal of European Public Policy 23.9 (2016): 1302-1310.
Portes, Jonathan, and Giuseppe Forte. “The economic impact of Brexit-induced reductions in migration.” Oxford Review of Economic Policy 33.suppl_1 (2017): S31-S44.
Wadsworth, Jonathan, et al. “Brexit and the Impact of Immigration on the UK.” CEP Brexit Analysis 5 (2016): 34-53.
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