Global Business: International Business Concepts & Theories - Impact of Globalisation on Retail in Australia
ESSAY
International Business Concepts & Theories
This paper references two recent newspaper articles, which focus on the rise of online retail in Australia and the decision of global retail giants to enter the Australian marketplace respectively. The paper aims to identify and discuss the implications for the Australian government, Australian businesses, particularly within the retail sector, as well as implications for international businesses which have been highlighted through these articles. This paper recognizes globalization as the most applicable and influential international business concept relevant to the changes within the Australian retail landscape. The paper also realizes theories related to differences in culture in reference to international business, specific to global retail giants entering the Australian marketplace are particularly relevant.
The growth of the retail industry in stagnant at current, this is largely due to diverse competitive challenges; specifically, the rise of online retail as a result of globalization and the entry of innovative global retail giants.
Globalisation is the integration of economic, political and cultural systems across the globe. Globalisation and the free exchange of goods continue to have a prolific impact on the retail industry. The retail industry in Australia accounts for 4.1% of Australia’s GDP and 10.7% of employment .
The article “Click, shop - Australians love doing their fashion shopping online” published in The Australian on October 29, 2013 identifies prolific growth in online shopping for the Australian market: “According to John Riccio, national digital change leader with PricewaterhouseCoopers, citing the NAB Online Retail Index for 2012, "their research shows that online remains much stronger than traditional retail" in terms of year-on-year growth since 2010 .”
The growth of global online retailing within Australia poses a major threat to the Australian government. As previously
International Business Concepts & Theories
This paper references two recent newspaper articles, which focus on the rise of online retail in Australia and the decision of global retail giants to enter the Australian marketplace respectively. The paper aims to identify and discuss the implications for the Australian government, Australian businesses, particularly within the retail sector, as well as implications for international businesses which have been highlighted through these articles. This paper recognizes globalization as the most applicable and influential international business concept relevant to the changes within the Australian retail landscape. The paper also realizes theories related to differences in culture in reference to international business, specific to global retail giants entering the Australian marketplace are particularly relevant.
The growth of the retail industry in stagnant at current, this is largely due to diverse competitive challenges; specifically, the rise of online retail as a result of globalization and the entry of innovative global retail giants.
Globalisation is the integration of economic, political and cultural systems across the globe. Globalisation and the free exchange of goods continue to have a prolific impact on the retail industry. The retail industry in Australia accounts for 4.1% of Australia’s GDP and 10.7% of employment .
The article “Click, shop - Australians love doing their fashion shopping online” published in The Australian on October 29, 2013 identifies prolific growth in online shopping for the Australian market: “According to John Riccio, national digital change leader with PricewaterhouseCoopers, citing the NAB Online Retail Index for 2012, "their research shows that online remains much stronger than traditional retail" in terms of year-on-year growth since 2010 .”
The growth of global online retailing within Australia poses a major threat to the Australian government. As previously