Industry and External Environment Analysis Assignment

Added on - 17 Feb 2021

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INDUSTRY AND EXTERNALENVIRONMENT ANALYSIS
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1Overview of Information Technology (IT) industry in Australia...............................................1External Analysis of Information Technology Industry (IT) of Australia..................................2Industrial Forces in Information Technology Industry (IT) Industry of Australia....................5CONCLUSION...............................................................................................................................8REFERENCES................................................................................................................................9
INTRODUCTIONThe information technology (IT) industry has become one of the most robust industries inthe world. IT is more than any other industry or economic facet has increases productivityparticularly in developed world and thus a key driver of global economic growth anddevelopment (Lu and et.al., 2015). There are mainly two environment in which an industryoperated such as internal and external. External factors are not in control with the company asthese are uncertain factors. The external analysis takes a look at the opportunities and threatswhich are existing in the environment of the company. There are various factors that needs to beevaluate as it affect the operations and function of the company in industry are customers,competitive, market and environmental factor. In this present report, the external analysis ofInformation technology industry of Australia will be done.MAIN BODYOverview of Information Technology (IT) industry in Australia.Information Technology (IT) is the use of computers to store, transmit, manipulates andretrieve information or data often in the context of a business or other enterprises. Thisinformation and technology industry has been considered as the subset of information andcommunication technology (ICT). Australia's digital healthy industry has a long history of usinginnovative communication technology across the world (Grant, 2016). The spending of Australiain the growth in Information technology will be driven by companies investments in the solutionof software's and services over 2019 to 2022. Internet Of Things (IOT), Artificial Intelligence(AI) technologies, cloud and edge computing are the main impetus which are being demandedfor the solutions. Australia is recognised for adopting new and advance technologies at a highgrowth rate as compare to other nations across the world. For example, IT entered the newmillenniums with one of the fastest rates of internet access in the world.Researchers and Scientist from Australia have been accountable for many leadingdiscovery as well as development in technology across the world. It is true that Australia swasheight Nobel Prizes recipient and it is not bad for nation with 19 million population. In Australia,the growth in IT industry has had various essential results like it has raised the opportunities fordesign and innovation, it also aids other sectors to make improvements in their already existingset-ups or establishments as well as it also assist existing set ups or establishment to improvethee quality of goods and services. Further, the growth in Information Technology (IT) industry1
has helps to improve and develop Australian economy and now it has becomes one of the leadingcountry in exporting and importing of exporting and importing of goods and services across theworld (Takata, 2016).In the Australian department of employment anticipating that IT industry has raised thejob opportunities and in 2018 the demands of professionals in IT has raised to 12.8 percent. Thecapital cities of Australia like Sydney, Brisbane and Melbourne are seen the largest growth in thetechnology as these are called as the hub of technology as well as home to more than half of thenations tops 20 technical firms whereas the Victoria state has over and about 8000 companiesoperating in IT industry for example, Microsoft, Intel and IBM. The salary of IT professionalsworking in Sydney are one of the highest among the nation as well as with about 65 percent oftechnological start-ups are based in New South Wales (Overview of Information technology (IT)Industry,2018). In addition to this, in the global digitalised economy, Brisbane has become oneof the leading competitive player because of having booming technological starts ups.External Analysis of Information Technology Industry (IT) of Australia.External environment is everything that is outside the company which may influence theoperations and functions of the company. External environment represent some forces thatinfluence the firms across all sectors. With the advancement in time, it has been seen a greatprogress and development in IT industry. All most population in Australia is using internet inorder to have connection with the people as well as across the world. It is true that, the credit ofraising the standard of people is goes to IT industry (Siqueira, Webb and Bruton, 2016). Apartfrom this, there are several factors that influence the operations, functions and entire profitabilityin both positive and negative manner. Thus, to understand the external factors and there impact,Pestle Analysisone of the best tool to evaluate the impact.PESTLE ANALYSISPolitical Factors:This is the factors that influence the business in IT industry in bothpositive and negative manner. For IT industry, government has formed various rules, policiesand laws in order to introduce IT sector in various departments. Private sectors is growing bytaking help with IT industry. It is very essential for government authorities to ensure the rightpolicies and laws for using the software and social media so that the operations will be on righttrack. With the policies and rules, the chances of crimes are reduced which is a very importantfor growth of IT industry. The political stability in the nations could assist to grow and develop2
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