Impact Of Trans-Pacific Partnership Assignment PDF

Impact Of Trans-Pacific Partnership To Australian Businesses 1
Impact of Trans-Pacific partnership to Australian Businesses.
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Impact Of Trans-Pacific Partnership To Australian Businesses 2
Global Strategic Management: Impact of Trans-Pacific partnership to Australian Businesses
Introduction
Global strategic management involves the process of laying down strategies and policies
to guide the flow of activities and programs of an organization either locally or at international
level setting. The term global strategic management can be shortened to global strategy. Global
strategy means a coverage of three areas, which include global, multinational and international
strategies. The three areas help an organization to reach international level (Lasserre, 2017,
p.58). International strategy is the positioning of an organization in a more competitive
advantage position, this helps specifically for the home market. The multinational strategy
involves how to connect to markets beyond home country. This promotes competitive advantage.
The global strategy is where the organization treats the whole globe as one market. The strategy
of an organization going global is important since the business name is globalized and this
creates a competitive advantage. Some customers also prefer to purchase goods and services that
are internationally produced and manufactured due to the issue of price (Shenkar, Luo and Chi
2014, p.17). Global strategic management simply deals with the management of business
organization at a universal level, which requires skills and knowledge for the speedy and clear
flow of transactions.
Trans-Pacific Partnership (TPP)
Trans-Pacific Partnership (TPP) is an agreement between countries namely Brunei,
Australia, Chile, Canada, Malaysia, Japan, Mexico, New Zealand, Vietnam, Peru, Singapore and
the United States of America. The agreement made between these countries was the agreement
on transacting businesses and ensuring good trade exists between the countries (Petri and

Impact Of Trans-Pacific Partnership To Australian Businesses 3
Plummer 2016). The US decided to come out of the association, which made the trade agreement
name TPP to be changed to Comprehensive and Progressive Agreement for Trans-Pacific
Partnership. Most of the policies and relations put in place in the TPP now belong to the latter
agreement formed. The original TPP had policies to lessen the tariffs that are the main causes of
barrier in trade. It would also help establish an investor-state dispute settlement (ISDS) also
called an Investment Court where countries are able to sue and report discrimination
occurrences. Australia forms part of the agreement as one of the party members. The presence of
Australia have benefits to it and some trade backs. Nevertheless, the benefits tend to be much
more compared to the disadvantages. The rest of the members of the agreement also benefit a lot
from the existence of the relation between the above countries, which all equally have something
to share in the trading market (Boardman, Greenberg, Vining and Weimer 2017, p.53). The
mutual association is the motivating power and influence that helps them to work together.
Opportunities presented to Australian Business by TPP.
Trans-pacific partnership have produced many gains to Australia, which brings positive
impact to the countries. Though there are some trade-offs, the advantages are more which has
helped to boost the economy of the country. Australia is an ever growing country categorized in
the advanced countries, these pushes a need to get associated with the follow same level
countries so that to maintain their status. Firstly, the partnership has helped in creation of new
markets for Australia. The existing markets are expanded, they are made more advanced so that
to help the ever-growing businesses. The partnership helps to bring new items from different
countries in the market, which pushes for new markets, which are established within the country
(Hair, Wolfinbarger, Money, Samouel and Page 2015, p.43)