Topic
Current Labor Trends in the Media Information and Telecommunication Industry in Australia
Instructions
Complete a 2000-word assignment that demonstrates knowledge and understanding of current labor
market trends relevant to the industry in which you hope to become an employed graduate.
Bring together your research – labor market data, statistics and general information (Parts 1), together with
the company/organization specific labor market research (Parts 2) and the information gathered
through the Investigative interview (Parts 3).
Identify factors that have led to changes in labor market composition within a specific industry or discipline over the last 5 years. Espouse a position, based on your research, of what might be expected to happen in the sector in the coming 5 years.
Answer Preview
The recent growth in telecommunication has experienced by specific changes disruptions that have swept across the Australian telecommunication industry. In 2015, the federal government was adamant about pushing for standardization of operations by major players in the field. For instance, the government announced a mobile cellular blackspot reduction program and it encouraged firms to roll out new mobile cellular towers in a bid to serve both regional and remote areas (McGregor, 2018). Secondly, Globalization has revolutionized the way companies do their operations concerning operating freely within various geopolitical borders. In this context, foreign firms have taken the opportunity to invest in the Australian telecommunication industry. For instance, Vodafone is a British company but it has a significant market share in Australia (19.3%). Thirdly, technological advancements are pushing telecommunication firms to embrace artificial intelligence (AI) and automation to carry out most operations. Innovation drives most of the operations in the industry; hence, most firms try to push for innovations that will give them a competitive edge over their rivals. For example, most companies have most of their products access 3G and 4G; thus, these companies are using enormous resources to try to switch to 5G ahead of their rivals. Lastly, the economic structural changes have massively impacted on the objectives that firms have. For instance, most of the firms in this industry are mostly guided by the revenues and profitability they make. Companies are compared to each other based on the amount of income they record in a given financial year.
Word Count: 3000