On Bauer Business Focus — A conversation about the language industry with Houston Public Media News 88.7 Business Reporter Andrew Schneider.
As the world gets smaller, communication across language and culture becomes a necessity. President of Masterword Services, a language services company, Ludmila (Mila) Golovine (BBA ’95) recently stopped by Bauer Business Focus to discuss the growing importance of the industry.
The idea for Masterword Services came to Golovine during the her time at the Wolff Center for Entrepreneurship at the University of Houston’s C. T. Bauer College of Business in 1992 when she was challenged with creating a business plan.
“I realized there was really a need for language services and there is a need for companies and individuals to communicate across language and culture. That homework assignment 20 years ago stated the language industry was a $10 billion industry,” Golovine said. “Today, the language industry is over $30 billion and is expected to grow 42 percent in the next 5-10 years.”
Houston is a prime example of how multi-cultural the country is becoming, Golovine added. This heightens the need for a connection between languages, even more so when combined with modern technology.
“We can now communicate with a person across the globe within seconds just by picking up a phone or by going online. This communication revolution that is happening today is bringing our world closer together,” Golovine added. “Also, we need to look at travel. We can come form one country to another very quickly.”
Click here to hear the full interview.