Business in Australia
- Australia's preliminary presentation
- Australia overview
- Australia's SWOT analysis
- Hofstede analysis
- Analysis of risk factors in Australia
- Legal Risks
- Political Risks
- Cultural Risks
- Financial Risks
This study is particularly important in our actual context because of the financial and economic crisis that is changing a lot of things in the environment. In fact it is essential to be aware of the different in politic, cultural, legal risks when a company wants to do business in a specific country. In this case, we decided to choose to analyze Australia. Besides, in this case we are going to talk and discuss about all the strategies for a company which wants to set up in this country, but also all the risks that it involves, because international business law is really specific from a country to another one.
Managers today have a problem. They know their companies must grow. But growth is hard, especially given today's economic environment where investment capital is difficult to come by and firms are reluctant to take risks. They have to do business abroad, find other revenue sources and that is why they have to consider the law enrolled in the different countries. As the result, an analysis of all the country's environment is crucial before entering a country to do business. It is not so easy to enter a market in another country; companies have to adapt their products and services, their policy and even sometimes their framework in order to have the right to do business in this country.
[...] It is important before doing business in Australia to analyze all the strengths and weaknesses, opportunities and threatens and to be aware of all the risks enrolled. STRENTGHS WEAKNESSES Mining resources (iron ore, coal) - High debts of companies and indispensable to the resumption households Geographical nearness with - Shortage of qualified workforce emergent Asia - Overexploitation of water Favorable budgetary position resources before the crisis - Tensions around the price setting Solid banking system annual of the raw materials Immigration which contributes widely to the offer of workforce OPPORTUNITIES THREATENS Strong position and relationship - Main threat comes from the with USA currency rate which is submitted to China's growing economy is variations increasing the business between the two countries To conclude on the SWOT analysis of Australia, we can observe that this country owns lot resources which made the success of the employment (iron, ore, coal). [...]
[...] The WTO helps Australia in terms of business and trade, the aim is also to protect each country member of the WTO from any risks, their interests and all the problems related to international trade. For example, we have noticed that Australia was involved in many issues with other countries (US and Uruguay), the mission of the WTO is thus to take in charge the conflict in order to find solutions. It has the ability to give more power to a country (investment for example) and this was the case for Australia which get more credit Is the country a member of the World Intellectual Property Organization? [...]
[...] As we noticed in the classification of political instability risks in 2010, Australia represents the lowest risk. As the result, there is no corruption and bribery in this country because it has specific laws and organization against them. They regulate the decisions and the laws which are established to fight this issue Financial Risks Concerning the economical point of view, we can say that Australia's economy is really healthy, the country is ranked among the most developed countries around the word. [...]