The Global Service Sector Enterprises Table of Contents Table of Contents 2 Introduction 3 PESTLE Analysis 3 POLITICAL FACTORS 4 ECONOMIC FACTORS 5 SOCIAL FACTORS 8 TECHNOLOGICAL FACTORS 9 LEGAL FACTORS 9 ENVIRONMENTAL FACTORS 10 Drivers and challenges affecting SMEs in Australia 10 Conclusion 13 References 14 Introduction Australia is located in the Southern hemisphere of the earth, in the Oceania, surrounded by the Indian Ocean on one side and the Pacific Ocean on the other…
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There was rapid agricultural and industrial development which was facilitated by the rich reserve of natural resources in the country. In the past few decades, Australia has established itself as an advanced economy and a strong competitor in the international market for goods and services. In the last century, Australia has been named one of the fastest developing economies among the OECD countries. The economic reforms made in the country during the 1980s are a major reason behind such brilliant performance by the economy. It ranks high in the international standards in the indices measuring human development, life expectancy, public literacy level and preservation of fundamental rights of the people. Australia has a non-permanent membership in the United Nations for the year 2013-2014 and is a member of the World Trade Organization since 1995 (Security Council Report, 2012). PESTLE Analysis Several factors originate and exist in the macro scenario of an economy that affects the operations of the business organizations of the economy. Changes in tax structures, trade barriers, change in government policy, demographic changes and a multitude of new laws implemented as a result of all these changes form parts of the macro-environmental change (Morrison, 2011). We shall use the PESTEL model to analyse these changes in the context of Australia and determine the factors that act as drivers of small and medium enterprises within the country. POLITICAL FACTORS Political factors relates to the extent to which the government interferes into the matters of the economy. The government of Australia is also known as “the Commonwealth Government” or “the federal government” (Australia, n.d.). The government body has three divisions; the legislature, the executive and the judiciary. The constitution makes no reference to any political party so as to allow the legislature to operate smoothly. Although government policies are a very practical method of affecting business practices directly, they are not always appropriate or effective (The Allen Consulting Group, 2008). Government intervention The Australian Government launches programs from time to time which are aimed at improving the environment for SMEs, promoting their growth and increasing employment levels (The Allen Consulting Group, 2008). It provides grants to the enterprises for developing employee skill and provides support in project planning. It provides advisory support to entrepreneurs for the starting of home-based business and expanding them. However, there are several government policies and regulations which are acting as barriers to business development of the SMEs. The government is taking steps to reduce such regulations and encouraging local governments to help small firms in reducing compliance costs (The Allen Consulting Group, 2008). Consumer protection Rights of the consumers in Australia are protected with utmost sincerity. There is a single consumer law applicable for the entire nation. “The Australian Competition and Consumer Commission” (Australian government, n.d.) formed in 1995 has the responsibility to look after trade practices, prices and overall consumer benefit. The provision of consumer security makes Australia a safe ground for business activities
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(The Global Service Sector Enterprises Essay Example | Topics and Well Written Essays - 2250 Words)
“The Global Service Sector Enterprises Essay Example | Topics and Well Written Essays - 2250 Words”, n.d. https://studentshare.org/macro-microeconomics/1469911-the-global-service-sector-enterprises.
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