Australia

Australia

Chapter One: Globalization and International Business

The impact of globalization on Australia has been positive as compared to other countries. The country's exports have increased which means that the country has gained a lot from the globalization. Globalization has helped the country in increasing its exports and imports. The trade that the company is experiencing due to globalization has had a positive impact on the country as a whole. Australia has been on the verge of development and has made sure that the people of this country are doing their best in order to bring the best out of them (Olson, 2005).

The international business in Australia has also been very important because it brings much to the country and also ensures that the country is doing a fair job. This business has also been impacted in a positive manner because the country is surrounded by developing countries and this is one main reason why Australia has been impacted in a positive manner. Australia provides a number of facilities to its neighboring countries and this is the reason that the country has been able to create a positive impact in the world. The technological facilities, investment and other means of growth have helped the country to grow and have also made sure that the country creates a positive impact.

These facilities are also provided to the neighboring countries so that the country gains from it, as well. The technical advice provided to the other countries by Australia has helped it to engage in trade negotiations and has also helped it to gain a competitive advantage over other countries. By providing these facilities to other countries, Australia has made sure that it gains maximum benefit from the trade and other business activities (McCollum, 2007).

Chapter Two: The Cultural Environments Facing Business

The education and health sectors are well developed with a high literacy rate of 99% and high life expectancy of 81.81 years. The labor force participation rate is also increasing. To help raise participation rates, the government has introduced many initiatives that plan to create half a million jobs by June 2013. Moreover, more than 95% of the country is above the poverty line.

However, the alleged racial undercurrents in the country and the poor rural healthcare record are causes for concern. Added to this, a low population growth rate, coupled with the increasing average age of the population, is a challenge for the government (Macintyre, 2004). Due to the aging population, maintaining high per capita income growth will become difficult. Additionally, increasing age-related public expenditures covering health and insurance would raise budget pressures.

The labor force participation rate measures the proportion of the working age population that is economically active. The labor force participation rate in Australia increased from 63.4% in 2002 to 65.5% in 2010, reflecting an increase from 9.9 million participants to 11.9 million. Moreover, the unemployment rate has fallen from 6.4% in 2002 to 5.3% in 2010. For the first five months of 2011, the labor force rose to ...