Essay about The Globalization of Australian Business

1009 Words 5 Pages
CRAM Exclusive
Essay Sample
The globalisation of Australian business has significantly advanced through recent years as the global economy has progressed. Some of the most prominent driving factors of globalisation include the technological advancements that have allowed for the expansion of the Australian market along with the establishment of free trade agreements with different nations. Benefits of Free Trade Agreements within the Australian Economy include higher quality products for Australian consumers and the low

middle of document…

The export and import of products to different geographical locations through vehicles such as cars, trains, ships, planes, etc. prove to be cost effective for businesses and offer a variety of products and services quickly for consumers. The developments of technology in businesses has widened the Australian market and made available more resources to satisfy consumer wants and needs.
The establishment of free trade agreements with different nations have further increased the development of Australian business within the economy. The reduction of protective measure such as tariffs and quotas within the agreements enhances Australia’s trade relationships with a variety of countries while advancing the Australian market. Additionally, Australia has been able to construct efficient agreements that follow the guidelines set by the World Trade Organisation (WTO) that remain profitable for both nations involved. One of the fundamental trade agreements that have proved profitable for Australia since its establishment in 1983 is the Australia New Zealand Closer Economic Relations and Trade Agreement (ANZCERTA). Figures calculated by the Australian Government Department of Agriculture indicated that the ANZCERTA agreement created $30 billion investment into the Australian economy in 2011/12 . The use of the agreements within the nation has created competition between local and foreign producers and has resulted in the
CRAM Exclusive
June91916Heaven

Related Documents

  • International Business and Globalization Essay

    things such as personnel practices or customer tastes. For example, if an appliance maker used a pure globalization strategy, it might not recognize that some countries are very much accustomed to top loading washers, while others are more partial to front loaders. International business is a mechanism to bring about globalization. These are three types of globalization: 2.1 Cultural Globalization Culture has increasingly become a commodity. Popular books and films have international markets. For

    Words: 1372 - Pages: 6
  • Reflect of Globalization on International Business Essay

    that, a number of laws are issued to liberalize international business transactions. By this, it is sought that regional cooperation in trade and finance could increase stability. As it is mentioned above, globalization can have both direct and indirect impact on states. It would also inevitably affect the laws of international business transactions either negatively or positively. As to the former, the challenges against globalization may dictate the revision of these laws in a manner which may

    Words: 1478 - Pages: 6
  • International Business Globalization Essay example

    does not support the caste system.    Difficulty: Easy   35. (p. 105) Guanxi is an important mechanism for building long-term business relationships and getting business done in China.    Difficulty: Medium   36. (p. 106-107) Since English is often thought of as the global language of business, it is not important for an American business executive to learn foreign languages.    Difficulty: Easy   37. (p. 107) Unspoken language refers to nonverbal communication. 

    Words: 4870 - Pages: 20
  • Essay about Globalization

    About 30% of Canadian gross national product is dependent on exports. In order for their businesses to not only thrive, but just stay in business, exporting is a necessity. With building such a strong relationship with Canada, they have become one of our largest export destinations (Manzella). There are a lot of benefits to trading with Canada. Canadian marketplace is this country's and our region's largest trading partner as it embraces similar cultural qualities, is next to us, is in the same time

    Words: 1203 - Pages: 5
  • Essay about Definition of Globalization

    from the plant. There's an additional damaging point of globalization. Most of the developing and under-developed nations couldn't obtain its advantage. A few of the countries in the African region are part of this class. Abject lower income is constantly on the haunt these countries. Which means that there's a lop-sided development in everyone around you that has took place because of globalization. It is a fact that because of globalization, transaction expenses of trans border moves of funds and

    Words: 2242 - Pages: 9
  • Essay about fashion globalization

    Furthermore, I will address the way in which the globalization of fashion, if any, can be understood in terms of various theories of cultural globalization which will be further discussed below. Theoretical Context: Consumption is a leading practice in contemporary capitalism and is closely related to culture, particularly through aspects of it that can be tied to economic profit, such as fashion. As fashion images in magazines, music videos, the Internet and other similar mediums are spread around

    Words: 2359 - Pages: 10
  • Essay about Summary on Globalization

    In many poorer nations globalization is actually the result of the foreign businesses investing in the country to take advantage of the lower wage rate, foreign resources and engraving more markets. The anti-globalization movement developed in opposition to the perceived negative aspects of globalization. The group represents a wide range of interests and issues. Opponents of globalization point out to its negative effects. Some of them are listed below. • Globalization has led to exploitation

    Words: 657 - Pages: 3
  • Essay about Effects of Globalization

    Ferdinand Porsche were partners. Globalization can have endless possibilities to help improve our lifestyle, not with just the innovation of products, but also with economics and foreign trade. Our economy is still fighting this recession. Jim Rogers, American economist and author, says,"2013, 2014 you should be very worried and you should prepare yourself"(Yahoo Finance). As well as the European economy. If we are both in a financial crisis, then why don’t we globalize and form a solution that

    Words: 871 - Pages: 4
  • Essay about Globalization

    This was further supported by The Globalization Index (2007) where it was estimated that “the benefits of globalization rarely reach 68 percent of the population that lives in rural areas”. While Stiglitz (2006) attributed the failure for benefits to reach some people to poor institutions and an unstable global financial system, he maintains that benefits of globalization could reach all as long as it is properly managed. With information sharing made much easier by globalisation, the culture

    Words: 754 - Pages: 4
  • Essay about Perspectives on Globalization

    Through growth of industry, these entities become more powerful. TNCs further their influence within political entities to promote their growth, creating a symbiotic relationship. A consequence of such is entrepreneurs and TNCs have realized the globalization of their practices and extend this global influence on imports and exports by soliciting their products with cultural-ideology and political significance (Lechner 2007). First World TNCs exploit cheap labor and manufacturing costs in third world

    Words: 1080 - Pages: 5