MPK736: Analyzing Australia's Business in Singapore's Transformation

This essay analyzes the potential economic opportunities for Australia resulting from Singapore's economic transformation program. It discusses the bilateral relationship between the two countries, focusing on trade, connectivity, and various sectors like manufacturing, infrastructure, and educ...Read More

Running head: INTERNATIONAL MARKETING
INTERNATIONAL MARKETING
Name of the Student
Name of the University
Author Note

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Introduction
The international marketing business in Australia is one of the positive moves in the
economy of Australia. The economic decision has been made in that case and that influence
the business opportunities for Australia. The system is now progressing and the strong and
stable financial system help the nation's economic framework (Yang, Su and Fam 2012). The
chances of low unemployment are there along with the ease of business doing aspect. The
level of continuous economic growth is also important in that case.
In this essay, the major topic establishes the transformation program in Singapore and
the possible opportunities delivered to Australia in that aspect. The economic development
and the aspect of the international business are transparent in that case and policies are taken
between these two countries are also significant.
Summary of the Article
The entire article has been taken from the Australian government trade and education
agency report and this is one of the valid reports that associated with the advancement of the
Australian government. The aim of the transformation programme is to highlight the
innovation, productivity and the development enhancement of Australia. There are some
sectors in Australia, that are benefitted through this process and the collaboration has made
an effective outcome from the entire process. The investment of $4.5 had been initiated in
2016 for the raising productivity, raising skill and driving the innovation in different sectors
in Singapore (Austrade.gov.au 2018). Almost 23 sectors are there and they have been
segregated in 6 industries. The opportunity that the Australian government is from a different
genre and sustainability in those sectors are improving the economic generation of the
country.
Background to the topic

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The topic align with the bilateral relationship with countries and diplomatic relation
for the economic development of the countries. In this case, 0.6% economic growth of
Australia in every year and GDP growth of every sector in Australia is the concerning aspect.
The rate of inflation in CPI is 1.8% on annual basis with the export amount of $191.3 billion
in 2016. The foreign reserves, in that case, are $51. 554 billion has a huge impact on the
situation and that helps in the business between Singapore and Australia (Austrade.gov.au
2018). The topic deals with trade and connectivity along with the domestic services,
education and modern lifestyle that initiate change in the business (Austrade.gov.au 2018).
The chosen topic is highlighting positional situation in the economy of Australia that may
develop the situation after the process has been initiated in Singapore.
Influence in Australian export and business effects
The overall influence is quite accelerating the process of business and in case of
industrial, built sets, trade and connectivity, crucial domestic facilities, modern services and
lifestyle these economic facilities backing by the help of the sectors. In the case of
manufacturing precision engineering, marine offshore, aerospace, electronics and other
industries improve excellence is there and that help other nations to improve their business
aspects. The technological development will help Australia to improve their quality (Gomes
et al. 2014).
Short term impact
In case of short term process built setting, environmental services and real estate
things are flagged for the expertise green building project in Singapore. The process is so
relevant that prefabricate the integrated construction issues in Singapore. The educational
improvement at the initial time is also important in that case and faculties and students from
the other nations are important in that case to diversify the form of education.

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Long term impact
In case of long term business cases crucial domestic facilities, health care aspects, as
well as the educational process, will be the key concern for the business and Australia can
improve if all these facilities will come and invest in their land (Chung, LU Wang and Huang
2012). The educational purposes are important for the development of students’ upgradation.
In that case, knowledge gains from the other faculties is important as well as relevant for the
educational perspectives. The technological amendments are there and that will initiate help
for the Australian students also to learn about the new aspects. The technological process is
important in that case and that initiate an opportunity for the host nation, and Australia’s
future is quite effective in that case.
International relation and trade relations
Australia is stared as a leader in sustainability, security and smart cities process and
growth and development in the ecosystem and collaborating process of exchange in business
is there and that is quite improving as per the entrepreneur concern in business. The
Australian trade process supports the whole thing and in several participations between two
countries co-ordinating event like CommunicAsia, Science Month, and Edu TECH Asia 2018
all these are important for the development of the Australian market (Austrade.gov.au 2018).
Supporting business help and economic advancement
The joint declaration of the Comprehensive Strategic Partnership (CSP) was signed
between Australia and Singapore on 29th June 2015. The growth in innovation, science,
research, technology will help Australia in the formation of trade relations. The GDP growth
for Singapore increased by 2% and Australian export to Singapore were $A5.8 billion
(Austrade.gov.au 2018). The aspect of trade values are there and Singapore's investment in
Australia was A$98.9 billion in 2016 (Baack, Harris and Baack 2013). In short term process

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may be some economic growth and advancement is being processed, but the lining of clear
adjustment and processing alternation that initiated by Singapore is relevant in that case. The
traditional Trans-Pacific Partnership (TPP) agreement was signed in that case and this is the
investment that they initiated for the long-term business process in the future. The economic
certainly and the driving force for the business acceleration this movement in the economy is
quite effective from the perspective of Australia.
Conclusion
Therefore it can be concluded that the essay evaluates the possible economic chances
of Australia by the economic transformation of Singapore. The program is impressive for the
economic perspective of Australia and the key node of technology and business advancement
with the help of revenue generation in every sector is the most underlined way of aligning the
essay.

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Reference
Austrade.gov.au 2018 Market profile retrieved from:
https://www.austrade.gov.au/Australian/Export/Export-markets/Countries/Singapore/Market-
profile [Accessed on 28th July, 2018]
Austrade.gov.au 2018 Singapore’s transformation program creates opportunities for
Australia retrieved from:
https://www.austrade.gov.au/news/latest-from-austrade/2018/singapores-transformation-
program-creates-opportunities-for-australia [Accessed on 28th July, 2018]
Baack, D.W., Harris, E.G. and Baack, D., 2013. International marketing (Vol. 3). Sage.
Chung, H.F., Lu Wang, C. and Huang, P.H., 2012. A contingency approach to international
marketing strategy and decision-making structure among exporting firms. International
Marketing Review, 29(1), pp.54-87.
Gomes, C., Berry, M., Alzougool, B. and Chang, S., 2014. Home away from home:
International students and their identity-based social networks in Australia. Journal of
International Students, 4(1), pp.2-15.
Yang, Z., Su, C. and Fam, K.S., 2012. Dealing with institutional distances in international
marketing channels: Governance strategies that engender legitimacy and efficiency. Journal
of Marketing, 76(3), pp.41-55.