IBUP018 Achieving Business Growth Assignment Sample
Here’s the best sample of IBUP018 Achieving Business Growth Assignment, written by the expert.
Introduction
A growth strategy provides direction to expand the business’s market share. By implementing the growth strategy, one business will grow. Comworld is a company, which will be deal with hardware, and software related problems. They want to start their business in Australia, which have low interest, favourable climate, average employment rate, political stability, tax-free for residents and low tax for non-residents. Excellent trade policy with the other countries, positive attitude towards career and use of latest technology are the added advantage to develop a business in Australia. This study highlights about the external environment of Australia, which will be ideal for the establishment of a healthy environment.
External environment analysis
Factors Analysis Impact
Political • Political stability of the country
• The corruption rate of the country
• Trade policy with neighbouring countries
• Policy regarding Tax “Political instability” negatively affects the business. The firm has to flexible and adoptable if a country persists in an unstable state. The political stability of Australia gives a greater advantage to enhance the growth of this business (Sá and Sabzalieva, 2018).
Corruption rate of Australia also low for a reason it is suitable for developing an organization in Australia.
The trade policy of Australia with their neighbouring countries is also ideal for establishing an organization.
Taxation rate is quite low in comparison to the other neighbouring countries.
Economic ● To maximize the sales and the profit
● To develop the increased market share
● To understand the facilities and the equipment that are produced
● Rate of unemployment
● Rate of interest By making the people aware of the products and giving different facilities.
By understanding the competitive strategy of the different competitors, it should be implementing it to develop and enhance the market share (Crosland et al.2019). By keeping a record of the assets and the varied equipment that are required for the day-to-day growth of the business. Many industries are developed in Australia due to its climate, low taxation rate, political stability and other important factors. Therefore, the rate of unemployment is quite low. Rate of interest is so low in AUSTRALIA. The cash rate of Australia is 0.10%. This is ideal for establishing an organization.
Social • Provide employment to large number of people
• Distribution of age
• Cultural viewpoints and perception
• Attitudes regarding career perspective Half of the population of Australia is young and the rest half are old. Therefore, there is a constant demand for employment, which is ideal for developing an organization (DeLacy et al.2020). Cultural diversity is one of the interesting features of Australia. This diversity acts as a positive regulator for establishing an organization.
Most of the people of Australia have a positive attitude for carrier perspective.
Technological • Use latest technology
● Wearable technology
● Wireless conference rooms
• GPS technology facilities
• Activity of Research and Development
• Research and development (Keeler et al. 2019) These can be helpful to give the varied facilities to their customers who will be able to receive the products on time and according to their needs and demands. The GPS technology will help the customer to locate their products and the duration they might take to receive it (Keeler et al.2019).
The R and D of Australia are really very much improved. It provides a positive impact for establishing an industry.
Legal • Maintaining consumer law
• Strong law and order for labors
• Regulation of industry Strong consumer law of Australia gives a positive impact to establish an organization (Gyorki et al.2018).
Environmental • Condition of weather and climate
• Natural calamities like cyclone, tornados
• Increasing pollution The weather and climate of Australia is suitable for the establishment of an organization.
Natural disasters like floods, cyclones, earthquakes and others are the major problem of Australia to establish an organization (Huang et al.2017).
Increasing pollution is another issue to develop an organization in Australia. Almost 5000 people have to die for the increasing air pollution.
Growth strategy
Comworld have to invade in not only Australia but also in other countries through their manufacturing product and relation through social media. Comworld will deal with hardware and software. Data is one of the important fuels of today’s world. The need of data is expanding day by day. Therefore, this company has to make their product through machine learning and latest artificial technology (Sá and Sabzalieva, 2018). The Research and Development team of this company should have to be innovative. They have to develop their product with so much efficiency and accuracy. The management team has to be conscious to generate a strong and broad customer base. Comworld have to increase their market share to expand their market. This company has to use latest Artificial intelligence. This company has to introduce their products and important services to invade into a completely new city, state or in a country (Huang et al.2017). These can be helpful to give the varied facilities to their customers who will be able to receive the products on time and according to their needs and demands, The GPS technology will help the customer to locate their products and the duration they might take to receive it.
Conclusion
Comworld is a startup company, which will be deal with hardware, and software related problems. They want to start their business in Australia. The advantages to start a business in Australia are low interest, favorable climate, average employment rate, political stability; tax free for residents and low tax for non-residents and others. Excellent trade policy with the other countries, positive attitude towards career and use of latest artificial intelligence and machine learning technology are the added advantage to develop a business in Australia. From this study we can conclude that the aspects of external environment like (political, economical, social, technological, legal and environmental factors of Australia which will be ideal for the establishment of a healthy environment.
Reference list
Crosland, P., Ananthapavan, J., Davison, J., Lambert, M. and Carter, R., 2019. The economic cost of preventable disease in Australia: a systematic review of estimates and methods. Australian and New Zealand journal of public health, 43(5), pp.484-495.
DeLacy, J., Dune, T. and Macdonald, J.J., 2020. The social determinants of otitis media in Aboriginal children in Australia: are we addressing the primary causes? A systematic content review. BMC public health, 20, pp.1-9.
Gyorki, L., Harris-Roxas, B. and Lewis, V., 2018. About Health Justice Australia.
Huang, X., Lambert, S., Lau, C., Magalhaes, R.S., Marquess, J., Rajmokan, M., Milinovich, G. and Hu, W., 2017. Assessing the social and environmental determinants of pertussis epidemics in Queensland, Australia: a Bayesian spatio-temporal analysis. Epidemiology & Infection, 145(6), pp.1221-1230.
Keeler, B.L., Hamel, P., McPhearson, T., Hamann, M.H., Donahue, M.L., Prado, K.A.M., Arkema, K.K., Bratman, G.N., Brauman, K.A., Finlay, J.C. and Guerry, A.D., 2019. Social-ecological and technological factors moderate the value of urban nature. Nature Sustainability, 2(1), pp.29-38.
Sá, C.M. and Sabzalieva, E., 2018. The politics of the great brain race: Public policy and international student recruitment in Australia, Canada, England and the USA. Higher Education, 75(2), pp.231-253.
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