Conducting business in Australia: Prospects and strategies for international managers

Australia, with a competitive, modern economy, an educated workforce, modern communications, and its positioning on the doorstep of Asia, has attracted many international businesses that have enjoyed success there. Some companies that immediately come to mind are Nokia and Optus (Singtel) in the case of telecommunications, IKEA in home design, the global accounting firms, and well-known brands such as Google, Yahoo, and FedEx. Australia has attracted to its shores well-known food franchises, such as McDonald's, KFC, Starbucks, and Baskin-Robbins. It has airlines, including Virgin Blue; the big agriculture and mining equipment companies such as Rio Tinto; Rivers and other big clothing companies; computing companies such as Hewlett-Packard; and manufacturers such as Toyota. Looking to the future, Australia offers significant investment and business opportunities for international managers seeking a presence there for their firms. This article provides an overview of the Australian business, government, and legal scene and offers some practical guidance for managers who decide to venture there.