Issues in Global Business and Strategic Concepts Essay - 1

Issues in Global Business and strategic Concepts - Essay ExampleIn this paper, the proponent provides the necessary recommendations for the government to consider in order inhabit expand Australias leading role in mineral extraction in the world. Keywords mining, mineral extraction, Australia table of Contents Executive Summary 1 Introduction 3 Industry Gross Value Added 4 The Value of Exports 5 Operating Profit Before Tax 6 Mineral Production 7 Assessment of Mineral Extraction to Australias Economy 8 Domestic Issues 8 International Issues 9 Conclusion/Recommendations 10 References 12 Appendices 14 Introduction One cannot deny the fact that Australia is one of the countries with largest mineral extraction industries in the world today. It holds abundant supply of natural resources allowing it to generate a great hazard to supply the world market as it is capable of providing affordable minerals of its own and efficient than other producers. This places Australia in the point of ab solute advantage (Zhang, 2008). Furthermore, this sets Australia in the position to possibly be the unbeatable leading fraud in the global mineral commodities in the long run. This maximizes its potential to comparative advantage (Mudd, 2010). This teaching essential be specifically appealing to the Australian Government, because in totality this has significant impact on its stinting growth and development. Recently, Australia has continuously gained investor confidence because of its competitive business climate as revealed through its surging tall foreign direct investment (FDI) inflow which stunt womans over five years to 2012 (Australian Trade Commission, 2013). This narrative is put ined to the Australian Government which provides the existing assessment of the contribution of mineral extraction activity to Australias economy, and rumination of domestic and international issues that need to be addressed in order to maintain and expand Australias current position as the leading producer and exporter of minerals such as iron ore, coal and gold. The implications of these issues for Australias future are likewise included. Therefore, the work at hand provides the remarkable economic figures that will present the actual data prior to the analysis and assessment of the contribution of mineral extraction to Australias economy. In addition, the prevailing domestic and international issues that at some point may have strong contributions to the actual capacity of Australia to maintain its current position as a leading producer and exporter of minerals will also provide the bases of the actual recommendation for the Australian Government. Industry Gross Value Added Industry gross cherish added (GVA) is the contribution of an industry to the countrys gross domestic product (GDP). Based on the Australian Bureau of Statistics (2012), the total production of Australias Mining Industry as measured by the GVA showed a positive direction from year 1989 until 20 10, which was clearly indicated by increased of 6% between 2008-2009 and 2009-2010, a double increase of percentage between 1989-1990 and 2009-2010. As shown in Figure 1 in the Appendices, the graph taken from the site of Australian Bureau of Statistics shows the actual GVA of Australias Mining Industry in terms of volume. The information in Figure 1 reveals not just about the volume of production, but the associated positive