Project on Global Financial Crisis and Its Impact on Business Management in Australia
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This project aims to examine the impact of the global financial crisis on business management in Australia. It will investigate the issues faced by business management during the crisis, possible techniques to overcome the volatility, and factors that affect business management.
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Running Head:PROJECT ON GLOBAL FINANCIAL CRISIS AND ITS IMPACT ON BUSINESS MANAGEMENT IN AUSTRALIA1 Project on Global Financial Crisis and Its Impact on Business Management in Australia Name: Institution Affiliation:
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PROJECT ON GLOBAL FINANCIAL CRISIS AND ITS IMPACT ON BUSINESS MANAGEMENT IN AUSTRALIA2 Introduction or background to the research issues The magnitude of crisis in financial sector in business management in most regions around the globe calls for essential reassessment of all sectors of economic scholarship and business operations. The need for reassessment includes accounting examination. The full influence of economic crisis began in late days of 2008 on every aspect of finance (Xu, Jiang, Fargher, & Carson, 2011). Changes that lead to financial crisis in business management arise from the culmination of several factors such as advancement in technological usage, responses to ever-changing marketplaces and wider economic environment, alteration in trend of demographic and customer-driven demand among other several factors. It is clear that universe posses several previous economic crises, but presently world of business management is experiencing worst worldwide financial catastrophe after economic disasters of Immense Recession (Solomon, 2012). The insinuations of catastrophe extend from the US, chief cause to disaster to Europe together with other rising as well as developed nations. The financial crisis in business management began with distinction from banking, insurance, together with mortgage organizations, to become economic disaster influencing Australian wealth in kind, shed as outline over numerous economic sectors. The project is of major importance as it will help in addressing the factors that affect business management. It is clear that delivery of appropriate services in business with limited finances has remained to be arguably challenging task to business managers in the present business community. The project will increase the understanding and learning of different ideas that are vital at improving the quality of business management in Australia (Iyortsuun &
PROJECT ON GLOBAL FINANCIAL CRISIS AND ITS IMPACT ON BUSINESS MANAGEMENT IN AUSTRALIA3 Akpusuugh, 2014). It will address the gap of focusing on how global financial crisis in business management led to corresponding recession among industrialized countries resulting in declining in operations in the global markets. From this research, business management will see the need of dealing with major events that tend to arm of threatening their stakeholders and daily operations. The project on financial crisis in business management in Australia is important as it aims to address different gaps that exist in the market. It will be essential on finding impacts that financial crisis has on Australian market and finding appropriate ways of how to handle any harmful influence on markets (Arora & Kalsie, 2017). The study is essential as it helps in addressing some of the ways that business operators should be aware of on how financial crisis can spread to different business operations. The study is also vital as it target at discovering the possible techniques that can be utilized to overcome the volatility in the business management around Australia. This project will address the gap that has existed on failure by several investigators to fully understand and address the aspects of economy of businesses influenced by financial crisis. In conclusion, this project will aim at addressing few salient points of the manner the global financial crisis of 2008 as led to several changes in the management of business operations around Australian community (Kryukova & Asenova, 2015). Therefore, lessons learnt from this project will be vital for operations of individuals as they will help them in preparing individually as well as organizationally for the next major shifts that might happen in line with business management operations. Research objectives
PROJECT ON GLOBAL FINANCIAL CRISIS AND ITS IMPACT ON BUSINESS MANAGEMENT IN AUSTRALIA4 The major aim of this project will be to examine different roots of universal financial disasters and its influences on business management in Australia (Dermine, 2013). The primary objective will assist in finding the best strategies that can be used by different business managers to control the occurrences of the crisis in their line of operations. Other specific research objectives i.To examine the issues that business management in Australia face during global financial crisis ii.To investigate the possible techniques that can be used to overcome the volatility of financial crisis in business management in Australia iii.To examine different business management factors that the crisis effects Research question This project target to give appropriate answer to specific inquiry intended to examine global financial crisis its impacts on business management I n Australia Primary question What are issues faced by business management in Australia due to global financial crisis Secondary questions 1)What are the approaches and ways in which financial crisis in business management led to decline in operations? 2)What are the factors that affect business management in Australia?
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PROJECT ON GLOBAL FINANCIAL CRISIS AND ITS IMPACT ON BUSINESS MANAGEMENT IN AUSTRALIA5 3)What are the possible techniques and approaches that can be set in place to overcome the volatility caused by financial crisis to business management in Australia markets? These vitalquestions used in this survey will eventually aid in giving appropriate responses to essential target of this project. The survey inquiries will essential in enlightening fundamental justification for diverse approaches that Australianauthority and business operators can be used to prepare in combating instances ofglobal financial crisis in business management inthe area (Meng, 2015).Consequently, outcomesfrom these investigative inquiries will remain helpfulin offering appropriate options or techniques that the Australianauthority and business managers can follow appropriately to combat financial crisis in business managementin their daily operations. Research hypotheses In thelight of work of literature on universelfinancial catastrophe and its impact on business management in Australia, this project aims at testing the following research hypotheses in order to arrive at a conclusion. Hypothesis 1 H0:Universefinancial disaster has influence on management of business in Australia. H1:Universe financial disaster does not have influence on the business management in Australia
PROJECT ON GLOBAL FINANCIAL CRISIS AND ITS IMPACT ON BUSINESS MANAGEMENT IN AUSTRALIA6 Hypothesis 2 H0:Universal economic crisis has negative influences on business management in Australia H1:Economic crisis has constructive influence on business management in Australia Hypothesis 3 H0:There is no significant correlation regarding the Global financial crisis and business management in Australia H1:There is significant correlation regarding the Global financial crisis and business management in Australia Importance and significance of research plan Global economic crisis on business management of between 2008 and 2009 remain to be an essentialeconomic occasion that has resulted in various affects on the different markets. Crisis generated in the US and impacted the nations such as UK, Australia, China, Japan, Canada, Spain, and France among many nations (Xia & Dimov, 2017). The idea of investigating impacts of financial crisis and its impacts on business management in Australia is crucial as it helps to understand how business operators can improve their operations. The crisis has affected the economic conditions of Australia making it vital for investigation. The project is useful as it will assist different business stakeholders to understand effective ways of operating their businesses by conducting a range of models of management (Oino, 2018). The attained model
PROJECT ON GLOBAL FINANCIAL CRISIS AND ITS IMPACT ON BUSINESS MANAGEMENT IN AUSTRALIA7 can assist business managers to attain their set mission, goals, and vision during the era that they experience universe financial disaster. Outcomes of this project can be vital in enabling business operators to understand effective ways of utilizing human resources well with the motive of attaining desirable outcomes in the business management process in Australia. The success of this research can be noticeable moment of economic catastrophe where economic resources that are available for management of business are quite scared for their operations (Ahid & Augustine, 2012). Therefore, this research will have different benefits to various business management units in the process of evaluating human elements that might seem to lead to diverse influences on their operations. Moreover, significance of this proposed study will assist in attaining best financial schemes for managing business in Australia. Furthermore, the issue of financial disaster together with its effect in business management within Australia is worth of research (Bapat, 2012). The examination can assist in ensuring that business managers do not impose several chares in the form of charges for their service provision, as there will be appropriate recommendations that can apply to improve management to provide massive responses in dealing with instances of global economic crisis. The outcomes of the research will lead to reaction to the crisis that will aid the entire management of business to possess a healthy connection between different governmental departments leading to eradication of cases of corruption in Australia that might lead to the economic crisis in management of business. Proposed research methods
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PROJECT ON GLOBAL FINANCIAL CRISIS AND ITS IMPACT ON BUSINESS MANAGEMENT IN AUSTRALIA8 The type of sample survey design that will apply to this investigation will concentrate on the effects that financial crisis has on business management in Australia. The examination will use qualitative sample survey design. The design will assist researcher to concentrate on data that are deeplyfor analysis. The data attained using the design remains to be non-arithmetic and incorporate application of survey questions that are non-prepared questionnaires along with discussions of the focus groups (Pinnuck, 2011). However, another survey design will include quantitative or casual research method that will aid surveyors to focus particularly on data in numerical format and comprise of use of well-structured questions in the investigation while gathering essential data from the interviewees. The use of descriptive statistics that include finding central tendency, variations such as average mean, statistical variance, with standard deviation and regressions models for information collected through quantitative research design is essential in analysis of impacts that financial crisis has on business management in Australia. The descriptive statistics will help in ensuring that gathered data and its process focus on the sample of business managers, stakeholders, and customers that are affected by a crisis during their operations (Wegman, 2012). The use of well-structured surveys will help in getting primary data by help of other research methods of collecting data such as observations, interviewing key informant, and discussion among focus group. There are three kinds of research philosophy that the investigator can use such as positivism, interpretive, and realism. However, this project has to undertake positivism philosophy since impact of financial crisis on business management in Australia can be understood by analyzing the obtained information. Only information relating to the impact of financial crisis in business management in Australia will be analyzed. The regression modelthat will be of great use in this research will be
PROJECT ON GLOBAL FINANCIAL CRISIS AND ITS IMPACT ON BUSINESS MANAGEMENT IN AUSTRALIA9 Sales during financial crisis =b0+b1+b2+b3+b4+ε The independent variable in this model will be competitors in the market and location of a business. The dependent variable includes employees, advert used by different business and amount of sales during economic crisis. Data and data collection There are two different kinds of methods that will be used to gather vital data. One method will be primary data collection as well as secondary collection of data. The primary collection technique of data is achieved when the investigator is gathering data from direct survey of marketplaces through use of personal interview or questionnaire (Shaikh, Gopan, & Shafiq, 2011). In contrast, collection of secondary data through questionnaire technique remains to be one where information is gathered from some relevant basis that include periodical articles, websites, and administration publications of various surveys among other sources. The collection of data in this project is secondary. It is secondary since mutually qualitative together with quantitative information has been attained from various periodical articles along withnews items (Akinbami, 2012). All data concerning impacts of universal financial crisis on possessions market of Australia has been acquired from various basis. Moreover, project is founded on secondary information. However, some of limitations of using such methods of data collection include finance, time, and availability that affect operations. Due to limitation of time, investigator might ignore several essential. Lack of appropriate data from secondary sources may not yield proper results out of survey (Shrivastava & Busch, 2013). Additionally, finance is the
PROJECT ON GLOBAL FINANCIAL CRISIS AND ITS IMPACT ON BUSINESS MANAGEMENT IN AUSTRALIA10 major contributor to research within academic aspect. Lack of adequate finance may prohibit the investigator to attain further information in detail. Population, sampling unit, and sample frames For researcher to obtain the random sample from the population of business managers in Australia, the project would obtain the sample of Australian businesses with over twenty workers. The list can either be obtained from employer of business organizations. Selected elements or persons in this study will be employers within different businesses that have in one way or the other been hit by global financial crisis (Joseph, 2013). The focus on a frame on organization with at least twenty workers is essential in ensuring that every individual in the population is identified so they will possess the equal chance for selection as the element in the study. The sampling frame in this study includes workers, employers, directors of businesses in Australia, and government officials responsible for business management in the region. Suggested statistical analysis Data analysis of this project can be analyzed statistically or through by approach of examining the facts that pertain universe financial catastrophe and its impact on business management in Australia. The technique of qualitative examination can be attained through probable factors upsetting and investigating business management state (Arup, 2013). Additionally, quantitative information such as property charges and extra indicators of finances can be examined with assistance of devices of statistics such as regression. The use of regression will aid in identification of the statistical significance of different factors in influencing business management in Australia. Furthermore, since the gathered data will be big, information will be
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PROJECT ON GLOBAL FINANCIAL CRISIS AND ITS IMPACT ON BUSINESS MANAGEMENT IN AUSTRALIA11 analyzed by using of different computer packages such as packages for statistics meant for social scientists (SPSS) and statistical formulas. Data are expected t be analyzed as well as presented manually in the form of charts and tables for ideal understanding by every party that has interest in the outcome of the project (van Hoorn, 2013). Besides, data analysis of this project will offer direct answers in this survey. However, use of percentages and frequencies in different graphs and charts can apply to express different opinions of various respondents. Statistical regression model that will be essential in analysis of data will be in the form of Sales of an organization =b0+b1+b2+b3+b4+ε b1presents employees in different business operations b2present Advert used by business management b3=Location of business in towns within Australia b4= Competitors in Australian market ε= error in the analysis All these signs will help in achieving the set objectives and hypothesis of the research as set during the initial plan of the investigation. Limitations and further research The outcomes of this study can stay compromised by several factors that include the need for more time for the process of investigation to reach its completion. Besides, inadequate funds to help in conducting every activity as planned in this survey might result in attaining of
PROJECT ON GLOBAL FINANCIAL CRISIS AND ITS IMPACT ON BUSINESS MANAGEMENT IN AUSTRALIA12 appropriate retreat that in most cases comprises the outcome of survey in the process of the review (Attig, Boubakri, El Ghoul, & Guedhami, 2015). Therefore, this project has to concentrate on changes that come with the use of system for environmental management in the business sector with the developed design of investigation around Australian markets. The main use of the design of survey is to help in improving the review that is more complex and involved with the views of research respondents. Furthermore, another limitation in this survey may happen during course of choosing important basis of attaining secondary information to be used in appraisal (Sternberg, 2013). Use of qualitative approach within this study may pay attention to in-depth data that is non-numerical as well as incorporating the use of different inquiries that are non-structured in the questionnaires, main informant interviews, together with focused on group discussions (Edogbanya, 2013). Therefore, this study needs appropriate technique of collection of data in order to attain the set objective. The investigation on financial crisis on business operations in Australia may be insufficient in sense that required respondents might be inadequate to attain appropriate process of arriving at decision. Other of respondents might react to inquiries obligate to them through providing false information that might lead to harmful influences on the result of this survey (Dang, Moshirian, Subrahmanyam, & Zhang, 2014). The outcome of investigation can also be comprised of the need for extra research time for the investigation to attain its completion. Computation of data might not succeed due to turnout of insufficient reserves together with time restrictions in process of learning different elements that guide to economic crisis on business management. Additionally, other limitations in this investigation might occur in course of choosing major basis of attaining back-up data to be used in reviewing procedure (Krusinskas,
PROJECT ON GLOBAL FINANCIAL CRISIS AND ITS IMPACT ON BUSINESS MANAGEMENT IN AUSTRALIA13 2015). Essential content present on the website usage makes the investigators face challenges in compiling the final arrangement of data that shall be used in the examination. Conclusions and contribution of the project The proposed project will be essential in business management in different towns around Australia. It will enable most business managers to work on ideas of having best strategies of managing their operations. The survey makes these managers and directors of business in Australia markets to be able to overcome weak processed impacted by the economic crisis. Therefore, through this project, business stakeholders can focus to move towards more ideas that are collaborative of their operations by offering essential and quality services without interruptions from financial aspects. Once the project comes to completion then, management of businesses can be capable of going ahead of all functional elements of the production along with the provision of quality services as well as goods. The outcome could be the extension of the theoretical model of new era in business management as operations of businesses in present markets demand for different styles of management approaches. These approaches when attained can offer the best answer to the problematic central mystery that result to cases of crisis in financial sector around different businesses. Moreover, the outcome will ensure that future operations of organizations focus on demanding clear accountability that uses the modern tools of organization useful in management of financial resources to yield efficient together with effective services and goods to Australians. Therefore, appropriate business management through the attained results can contribute to improvement of financial standards of a company by
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PROJECT ON GLOBAL FINANCIAL CRISIS AND ITS IMPACT ON BUSINESS MANAGEMENT IN AUSTRALIA14 offering quality services and products, as cases of financial crisis might be minimal or rare of the available resources goes to appropriate utilization.
PROJECT ON GLOBAL FINANCIAL CRISIS AND ITS IMPACT ON BUSINESS MANAGEMENT IN AUSTRALIA15 References Ahid, M., & Augustine, A. (2012). The Impact of Global Financial Crisis on Jordan. International Journal Of Business And Management,7(16). doi: 10.5539/ijbm.v7n16p80 Akinbami, F. (2012). Retail Financial Products and the Global Financial Crisis.SSRN Electronic Journal. doi: 10.2139/ssrn.2087548 Arora, A., & Kalsie, A. (2017). Impact of US Financial Crisis on GDP of BRICS Economies: An Analysis Using Panel Data Approach.Global Business Review,19(2), 439-454. doi: 10.1177/0972150917713509 Arup, C. (2013). The Global Financial Crisis: Learning from Regulatory and Governance Studies.Law & Policy,32(3), 363-381. doi: 10.1111/j.1467-9930.2010.00322.x Attig, N., Boubakri, N., El Ghoul, S., & Guedhami, O. (2015). The Global Financial Crisis, Family Control, and Dividend Policy.Financial Management,45(2), 291-313. doi: 10.1111/fima.12115 Bapat, D. (2012). Efficiency for Indian public sector and private sector banks in India: assessment of impact of global financial crisis.International Journal Of Business Performance Management,13(3/4), 330. doi: 10.1504/ijbpm.2012.047299
PROJECT ON GLOBAL FINANCIAL CRISIS AND ITS IMPACT ON BUSINESS MANAGEMENT IN AUSTRALIA16 Dang, T., Moshirian, F., Subrahmanyam, A., & Zhang, B. (2014). Global Financial Crisis, Liquidity Shocks and Global Financial Stability.SSRN Electronic Journal. doi: 10.2139/ssrn.2443197 Dermine, J. (2013). Bank Regulations after the Global Financial Crisis: Good Intentions and Unintended Evil.European Financial Management,19(4), 658-674. doi: 10.1111/j.1468- 036x.2013.12017.x Edogbanya, A. (2013). The Impact of the Global Economic Financial Crisis on the Role of the Management Accountants in an Emerging Economy.Kuwait Chapter Of Arabian Journal Of Business And Management Review,2(6), 49-57. doi: 10.12816/0001208 Iyortsuun, A., & Akpusuugh, T. (2014). The Impact of the Global Financial Crisis on Business Development in Makurdi Metropolis, Benue State, Nigeria from 2007–2009. International Journal Of Business And Management,9(3). doi: 10.5539/ijbm.v9n3p64 Joseph, D. (2013). Global Financial Crisis: Reflections on Its Impact on India.SSRN Electronic Journal. doi: 10.2139/ssrn.2260772 Krusinskas, R. (2015). Evaluation of the Impact of the Global Financial Crisis on the Innovative Performance of Lithuanian Industrial and Service Companies in the European Union Context.Journal Of Economics, Business And Management,3(11). doi: 10.7763/joebm.2015.v3.326
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PROJECT ON GLOBAL FINANCIAL CRISIS AND ITS IMPACT ON BUSINESS MANAGEMENT IN AUSTRALIA17 Kryukova, O., & Asenova, E. (2015). Global Financial Crisis Impact On Single-Industry Towns’ Economy.Effective Crisis Management, (1), 80. doi: 10.17747/2078-8886-2010-1-80-87 Meng, X. (2015). The Global Financial Crisis and its Impact on Emerging Markets: A CGE Assessment.Journal Of Economics, Business And Management,3(11). doi: 10.7763/joebm.2015.v3.328 Oino, I. (2018). Impact of regulatory capital on European banks financial performance: A review of post global financial crisis.Research In International Business And Finance,44, 309- 318. doi: 10.1016/j.ribaf.2017.07.099 Pinnuck, M. (2011). To What Extent has Financial Accounting Contributed to the Global Financial Crisis?.Australian Accounting Review,21(1), 1-2. doi: 10.1111/j.1835- 2561.2010.00125.x Shaikh, F., Gopang, N., & Shafiq, K. (2011). Global Financial Crisis And Its Impact On Textile Industry In Pakistan.Journal Of Business Case Studies (JBCS),7(3), 17. doi: 10.19030/jbcs.v7i3.4260 Shrivastava, P., & Busch, T. (2013). Avoiding a Global Carbon Crisis: Learning from the Financial Crisis.Thunderbird International Business Review,55(6), 647-658. doi: 10.1002/tie.21581 Solomon, D. (2012). The Rise of a Giant: Securitization and the Global Financial Crisis. American Business Law Journal,49(4), 859-890. doi: 10.1111/j.1744-1714.2012.01143.x
PROJECT ON GLOBAL FINANCIAL CRISIS AND ITS IMPACT ON BUSINESS MANAGEMENT IN AUSTRALIA18 Sternberg, E. (2013). Ethical Misconduct and the Global Financial Crisis.Economic Affairs, 33(1), 18-33. doi: 10.1111/ecaf.12010 van Hoorn, A. (2013). Values of Financial Services Professionals and the Global Financial Crisis as a Crisis of Ethics.SSRN Electronic Journal. doi: 10.2139/ssrn.2317713 Wegman, E. (2012). Special issue of statistical analysis and data mining.Statistical Analysis And Data Mining,5(3), 177-177. doi: 10.1002/sam.11151 Xia, T., & Dimov, D. (2017). Alliances and Survival of New Biopharmaceutical Ventures in the Wake of the Global Financial Crisis.Journal Of Small Business Management. doi: 10.1111/jsbm.12331 Xu, Y., Jiang, A., Fargher, N., & Carson, E. (2011). Audit Reports in Australia during the Global Financial Crisis.Australian Accounting Review,21(1), 22-31. doi: 10.1111/j.1835- 2561.2010.00118.x
PROJECT ON GLOBAL FINANCIAL CRISIS AND ITS IMPACT ON BUSINESS MANAGEMENT IN AUSTRALIA19 APPENDICES APPENDIX I: Questionnaire for the participants (Business managers, workers, directors, and other stakeholders) Section 1 1.Age distribution Between 18 to 22() Between 23 to 27() Between 28 to 32() Between 33 to 37() Between 38 to 42() Between 43 to 47() Between 48 to 52() Between 53 to 57() Between 58 to 62() Above 63 () 2.Gender Male()
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PROJECT ON GLOBAL FINANCIAL CRISIS AND ITS IMPACT ON BUSINESS MANAGEMENT IN AUSTRALIA20 Female() 3.Responsibility in an organization Worker() Manager() Director() Intern() 4.Have you heard of global financial crisis that affect business management in an organization? Yes() No() 5.Approximately, how frequently do economic crisis affect your operations in Australian market? Daily() Weekly() Monthly() On special occasion() 6.Where did you learn about global financial crisis?
PROJECT ON GLOBAL FINANCIAL CRISIS AND ITS IMPACT ON BUSINESS MANAGEMENT IN AUSTRALIA21 Media() Friends() Workmates() Other() 7.Does Australian government have better ways of controlling financial crisis that affect business management in the region? Yes() No() 8.If yes, how many are they? One() Two() Three() More than three() Not sure() 9. In your own opinion, is the number adequate to serve the idea of business management satisfactorily? Yes() No()
PROJECT ON GLOBAL FINANCIAL CRISIS AND ITS IMPACT ON BUSINESS MANAGEMENT IN AUSTRALIA22 10.If No, what do you suggest that Australian government should set in place to help in controlling financial crisis that affect management of businesses? ______________________________________________________________________________ ______________________________________________________________________________ ______________________________________________________________________________ _______________________________ Section 2Impact of economic crisis and countermeasures 12. What effect has universal financial crisis caused to operations of your organization from 2008? Considerably negative influence Somewhat negative influence No influence Somewhat positive influence Considerably positive effect 13. Following financial crisis influence on your company when did or expect the sales of organization to reach at its lowest level? Oct – Dec 2008 January – March of 2009 April – June of 2009
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PROJECT ON GLOBAL FINANCIAL CRISIS AND ITS IMPACT ON BUSINESS MANAGEMENT IN AUSTRALIA23 July – September 2009 Initial half of 2010 Latter half of 2010 From January of 2011 Not certain 14. When did sales of organization get better to pre-economic crisis stage (previous to 2008 September)? Oct – Dec of 2008 January – March of 2009 April – June of 2009 July – September 2009 Initial half of 2010 Latter half of 2010 From January of 2011 Not certain 15. What actions have the organization use in the past twelve months from time of universal financial crisis took hold? Annulment or delay of fresh deal or facility venture
PROJECT ON GLOBAL FINANCIAL CRISIS AND ITS IMPACT ON BUSINESS MANAGEMENT IN AUSTRALIA24 Sliming down of present management sector of business Shutting or pulling out of business foundation that includes section its base Improved competence through mixing of business management within company (strengthening of extra foundation, a change to foundations in Australia) Adjustments of working opportunity Increment in value of sales Drop in prices of transactions Review by traders (edge in numbers of traders, shift to less costly suppliers) Evaluation of organizations that deliver goods and services Launch of advanced business management Reduction in charges through improved efficiency of sales together with production No measures have been set in place Other () 16. In your own opinion, do effects of financial crisis reduces operations of business management in Australia? Yes() No() Explain
PROJECT ON GLOBAL FINANCIAL CRISIS AND ITS IMPACT ON BUSINESS MANAGEMENT IN AUSTRALIA25 ______________________________________________________________________________ ______________________________________________________________________________ ______________________________________________________________________________ ______________________________________________________ 17.In your opinion what are the major factors that need improvement for the business management to increase further during period of financial crisis in Australia? ……………………………………………………………………………………………………… ……………………………………………………………………………………………………… ……………………………………………………………………………… 18. Does management of business in your organization get affected during financial crisis? Yes() No() If yes, how often do financial crisis affect business operations? ……………………………………………………………………………………………………… ……………………………………………………………………………………………………… ……………………………………………………………………………………….
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PROJECT ON GLOBAL FINANCIAL CRISIS AND ITS IMPACT ON BUSINESS MANAGEMENT IN AUSTRALIA26 19.How regularly do you receive the information on financial crisis through advertisement in public and social media concerning the need to improved business management in Australia? Rarely() Sometimes() Often() 20.Are there any other related services that you may need to deal with financial crisis to improve business management in Australia? ______________________________________________________________________________ ______________________________________________________________________________ ______________________________________________________________________________ ______________________________________________________ 21. Compared to the past years, to what extent will your organization decrease or increase capital investment over the next years? Increase of at least fifty percent Forty percent increase Thirty percent increase Twenty percent increase Ten percent increase
PROJECT ON GLOBAL FINANCIAL CRISIS AND ITS IMPACT ON BUSINESS MANAGEMENT IN AUSTRALIA27 No change reduction Ten percent decrease Twenty percent decrease Thirty percent decrease Forty percent decrease Decrease of at least fifty percent Not sure 22. Do financial crisis hugely impact operations of businesses in Australian markets? I concur I strongly concur I somewhat concur I somewhat differ Reject I strongly differ I cannot say 23.What are the possible techniques and approaches that can be set in place to overcome the volatility caused by financial crisis to business management in Australia markets? Proper government regulations
PROJECT ON GLOBAL FINANCIAL CRISIS AND ITS IMPACT ON BUSINESS MANAGEMENT IN AUSTRALIA28 Collaborations with different stakeholders Funding businesses Reducing taxes on businesses Borrowing operation ideas from well-established organizations Others 24.Financial crisis has negative impacts on business management in Australia? I concur I strongly concur I somewhat concur I somewhat differ Reject I strongly differ I cannot say 25.Is there significant correlation regarding the Global financial crisis and business management in Australia? I concur I strongly concur I somewhat concur
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PROJECT ON GLOBAL FINANCIAL CRISIS AND ITS IMPACT ON BUSINESS MANAGEMENT IN AUSTRALIA29 I somewhat differ Reject I strongly differ I cannot say 26.Do global financial crisis have influence on the business management in Australia? I concur I strongly concur I somewhat concur I somewhat differ Reject I strongly differ I cannot say 27.Have you received any form of fundings or sponsorship during period management of business was facing financial crisis? Yes() No() If yes, state the organization that funding your operations and the sum of money you received ______________________________________________________________________________ ______________________________________________________________________________ ______________________________________________________________________________ ______________________________________________________
PROJECT ON GLOBAL FINANCIAL CRISIS AND ITS IMPACT ON BUSINESS MANAGEMENT IN AUSTRALIA30 28.What are some of the charges that you have covered for management of business during financial crisis in Australia? I had to cover charges of management of operations I had covered costs of increasing products I had to cover costs of traveling I had not incurred any cost I do not know
PROJECT ON GLOBAL FINANCIAL CRISIS AND ITS IMPACT ON BUSINESS MANAGEMENT IN AUSTRALIA31 APPENDIX II CONSENT FORM FOR BUSINESS MANAGERS, WORKERS, AND DIRECTORS Through signing of this form, I concur to participate in this project examine titled (Global Financial Crisis together with its Impacts on Business Management in Australia). I declare that: I have read or heard this data as well as content read to me and or translated to me and in the language that I am fluent in and comfortable with throughout the process. I have gotten a chance to inquire more, and all inquiries have adequately been answered I understand that I might pull out from this survey at any moment without penalty or loss of benefits The Respondent’s Signature ------------------------------- Date -------------------------- The Witness’s Signature --------------------------------------Date--------------------------