Business Research: International Trade in Australia

BUSINESS RESEARCH
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Topic identification
In order to conduct successful research, it is necessary that one chooses a research
topic about which information can be collected and research tools can be used to
analyse it. For this, we agreed to pool in some of the topics associated with personal
interest and from there brainstorm to find other topics. The topics were shortlisted
depending on whether they are suitable for research and presents a matter of
significance. In the last step, each of us chose a topic and researched into it briefly to
fully analyses whether it could be further worked upon or not. We then defined our topic
and the issue related as simply as we could. We then voted for the project topic that we
found the most relevant (Boyd, 2017). It was necessary that the problem was not of an
abstract nature as in such problem it becomes difficult to get a succinct outcome. We
sent a proposal for the research topic chosen and it was promptly approved. The
chosen research topic was “International trade: Export and Import of Australia”.
Australia is 22nd largest exporter of the world and an average Australians is considered
to be second richest in the world. Our main aim was to find how much of Australia's
finances are earned through export and what are the main products and materials that
are manufactured (Shafiullah et al. 2017).
Literature review
For collecting relevant literature, we first began with light reading and made a list of
topics that we came about. On a decided date we discussed and compared the topics
collected. This way we were able to shortlist the topics that would be included in the
literature review. In the next phase, we divided the topics amidst ourselves and
collected information about these topics from both offline and online sources. Online
journals were accessed and it was made sure that all of them were relevant and not
before 2015. This way we could make sure that the information in them still stand true
and appropriate. We tried to avoid online sources that could be openly edited by people
and only depended upon survey data provided by government-approved sites. After
choosing the sources of information we made a draft, which summarised the articles
and information we collected (Degn et al. 2018). The information was grouped under
topics and it was made sure that they were arranged in a manner that the whole trade
scene of Australia can be understood. After going over the draft for any discrepancies
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