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DBIA

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  • Current wave
    The mining boom isn’t ending but how do we extend its runway?

    Next waves
    Collectively gas, agribusiness, tourism, international education and wealth management have the potential to be as big as mining. Exceptional growth could add about $250 billion to the economy between 2013 and 2033.

    Future waves
    There will also be pockets of growth to be found in the big and primarily domestic sectors that make up the bulk of
    our economy.

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  • 1. Doing Business in Australia (DBIA) suresh.sood@uts.edu.au linkedin.com/in/sureshsood Download: http://www.slideshare.net/ssood/dbia-37214465 July 2014
  • 2. Protocols: Acknowledgement of Traditional Owners and Welcome to Country Understanding the difference between a Welcome to Country and an Acknowledgement of the Traditional Owners Welcoming to Country and Acknowledging of the Traditional Owners are elements of Aboriginal cutural which are ancient in origin. These practices are also increasingly becoming part of Australian culture. However there is often some confusion regarding which is which and who can be asked to give it. A Welcome to Country is a formal welcome onto Aboriginal land given by an Elder or person of that land. That is, someone who is a Traditional Owner of that place. As Traditional Owners it is they only who can welcome onto their Country. A Welcome to Country is not always needed and in many cases an Acknowledgment of the Traditional Owners is sufficiently respectful. An Acknowledgement of the Traditional Owners is a statement of recognition of the Traditional Owners of the land. That is, an acknowledgment of the Aboriginal community who historically have occupied and continue to be the cultural custodians and holders of knowledge for an area. An Acknowledgement of Country can be given by any person, Indigenous or not. As mentioned, an Acknowledgment of the Traditional Owners is usually a sufficient act of respect. Recommended wording for an Acknowledgment of the Traditional Owners at UTS events Giving an Acknowledgment of the Traditional Owners is an act of courtesy on the part of the speaker. Therefore it should be said in a respectful and sincere manner. It should also be given very early in the formal proceedings. Jumbunna Indigenous House of Learning, UTS suggests the following form of words for UTS staff and students: 'Before we begin the proceedings and behalf of all those present, I would like to acknowledge and pay respect to the Traditional Owners of the land on which we meet; the Gadigal and Guring-gai people of the Eora Nation. It is upon their ancestral lands that UTS stands. Similarly, I would also like to pay respect to the Elders both past and present, acknowledging them as the traditional custodians of knowledge for this place.' http://www.jumbunna.uts.edu.au/about/protocols.html
  • 3. Areas of Discussion 1. Culture 1. Public holidays in 2014 1. Cultural differences Australia and China 2. Economic differences Australia and China including bilateral trade 1. News sources, TV , useful Web sites and social networks 1. Doing Business in Australia 1. Australian business, introductions, entertainment guidelines 1. The Next wave and Lucky Country
  • 4. Culture ”…complex system of concepts, values, norms, beliefs and practices that are shared, created and contested by people who make up a cultural group and are passed on from generation to generation. Cultural systems include variable ways of seeing, interpreting and understanding the world. They are constructed and transmitted by members of the group through the processes of socialisation and representation.” Australian Curriculum, Assessment and Reporting Authority (ACARA) 2011, Draft Shape of the Australian Curriculum: Languages, Sydney
  • 5. Cultural Iceberg Aspects of Culture (you can see) Literature Manners Language History Communication style Role expectations Non-verbal communications Order of priorities Patterns of interpersonal relationships Concerns for efficiency Negotiation Styles Approaches to performing task How tasks are assigned Work and learning styles What motivates people Attitudes towards work Attitudes towards planning Ways of establishing rapport Attitudes towards authority Tempo of Work Pace of moving from formal to informal Aspects of Culture (you cannot see)
  • 6. Australia and Freedom "You feel free in Australia. There is great relief in the atmosphere - a relief from tension, from pressure, an absence of control of will or form. The skies open above you and the areas open around you" D.H Lawrence (English author)
  • 7. • Hero or Villain? – “such is life” • Notorious bushranger carried out a series of successful bank robberies and outwitted the Victorian Police • Became a hero in the eyes of the oppressed and Irish until he was gunned down and captured in a police shoot-out at Glenrowan Aussie Icon – Ned Kelly 1880
  • 8. Aussie Icon – Sydney Opera House Sydney Opera House Grand Opening 1973 Sydney Opera House Samsung Galaxy Launch 2013
  • 9. Australian invents 'world's smallest washing machine’ Kate Jones, July 21, 2014, brisbanetimes.com.au Ashley Newland, inventor of the Scrubba.
  • 10. Commonwealth and state powers Commonwealth State Concurrent powers (Shared powers Exclusive powers (Commonwealth only) Residual powers (State only) Examples s.52: Exclusive powers of Parliament s.90: Customs, excise and bounties s.92: Free trade between the States s.105: Taking over state public debts s.114: Military forces s.115: Currency s.122: Government of federal territories Examples Insurance Banking Industrial Relations Examples Education Local Government Transport Exclusive, concurrent and residual powers
  • 11. Public Holidays in 2014
  • 12. According to Google "Australians are known for *" Source : http://blogoscoped.com/prejudice
  • 13. China in Comparison with Australia (Hofstede) http://geert-hofstede.com/countries.html
  • 14. What about Australia and China Economic Differences ? https://www.dfat.gov.au/geo/fs/chin.pdf
  • 15. Australian Businessperson - Group Think Take about 15 -20 mins to think about some discussion points on an Australian Businessperson and indicate how you might build a relationship and commence a meeting. Let’s discuss
  • 16. Australian News Sources http://www.afr.com/ http://www.theaustralian.com.au/ http://www.theguardian.com/au http://www.smh.com.au/
  • 17. TV Broadcast Networks
  • 18. Useful Australian Websites http://en.wikipedia.org/wiki/Special:Nearby
  • 19. Ideas concerning Australia may be different between Chinese people in Australia and Chinese citizen. (date: 1st May 2014) Chinese social networks Australian social networks • Sina weibo (132,555,895) • QQ weibo (3,721,300) • Taisha BBS (1,228,967) In total: 137,506,162 • Tigtag (21,755,909) • Oursteps (14,568,879) • Yeeyi(6,635,153) • FreeOZ (4,718,210) In total: 47,678,151 The following numbers are the Australian-related posts found in each site.
  • 20. Mercer Cost of Living Survey 2014 Sydney drops from 9 (2013) to 26 in 2014 Melbourne drops from 16 to 33 Brisbane and Canberra fall outside top 50 Adelaide (59) has also fallen twenty five spots Shanghai is 10 Beijing is 11 The drop in rankings mean Australia becomes more attractive for global talent because expat dollars will go further, it does not mean that Australian cities have become cheaper for Australians The survey covers 211 cities across five continents and measures the comparative cost of over 200 items in each location, including housing, transportation, food, clothing, household goods, and entertainment.
  • 21. How Australia and comparator economies rank on the ease of doing business
  • 22. How Australia ranks on the ease of doing business
  • 23. Doing Business 2014 data for Australia The World Bank and the International Finance Corporation http://www.doingbusiness.org/reforms/overview/economy/australia Getting Credit: Australia improved its credit information system through the Privacy Amendment (Enhancing Privacy Protection) Act 2012, which permits credit bureaus to collect account payment history with improved privacy protection. DOING BUSINESS 2014 RANK 11
  • 24. Doing Business 2014 data for Australia The World Bank and the International Finance Corporation http://www.doingbusiness.org/rankings
  • 25. What Australians are Taught : Greeting the Chinese In China, Westerners are greeted with a handshake along with a slight bow. A younger person should bow lower to an older person: the deeper the bow the greater the respect. Handshakes should be slightly soft and never aggressive. The Asian collectivist values are not physically oriented. They do not display a need for close physical contact. Do not try to greet a Chinese in a customary fashion. A slight bow of the head is appreciated.
  • 26. Australian Business • Casual or formal dress ? • Work hours Mon-Fri 9:00 am to ~5:00 pm • Small talk before hand • Hand shake at beginning and end • Exchange email addresses, LinkedIn or business cards (often no formality) • Gift giving is not normal • Invitations to BBQ after hours on occasions (bring food and wine) Source: http://www.justlanded.com/english/Australia/Australia-Guide/Business/Business-etiquette
  • 27. Introductions First names used in Australia indicates friendliness and informality People shake hands firmly and in a friendly manner upon introduction as well as at the beginning and end of meetings The business title is often not used Aussies greet each other with “Hello” or an informal “G’day Presentation of business card is often informal and might not be reciprocal Australians are direct like Americans Introductory conversation before meeting unrelated to business relating to events, architecture or even sightseeing
  • 28. Negotiating Pointers Be punctual time is valued by most Australians Be informal, but courteous Americans feel very comfortable dealing with Australians Humor can be a useful icebreaker Make presentations detailed and factual. Make brief introduction and then present Offers should be close to final – Australians do not like to haggle! Australians commence with being generous but very quickly move away from being so flexible In spite of informality and friendliness written contracts are important
  • 29. Business Practice Australian English is spoken language Business is sometimes conducted over drinks/refreshments. Beer is very popular Buy only when it is your turn in the circle as rude to buy out of order. Melbournians are more conservative than fellow Australians Get down to business quickly Presentation should be complete but do not hide problems Communicate openly Due to great distances important to have representation within Australia. Senior executives still have traditional “old school” network so useful to have relationships with others in the network Normally no formal seating arrangement
  • 30. Entertainment Business lunches are a popular approach to business but after a relationship is established But leisure time is often separated from business and not good practice to use social events to talk business. Dinner is usually about 6 pm and come close to the time but not late Guests bring flowers or wine but not gifts. Sometimes a tea drinker will accept tea as a gift but check in advance A “thank-you”when leaving Formal evening entertaining once a business relationship established Home invite is very special otherwise meet up in a club based around a sporting event Home BBQ with family might be offered Check dress code Weekend entertainment very rare
  • 31. Humor and Business http://www.roninmarketeer.com/2014/06/25/thats-not-funny/ 1. There is no formula for funny. 2. Like chess, there are some proven openings, but you have to do the hard work of filling in the details and there’s no guarantee you’ll get it right (in fact you won’t most of the time as you start). And get this – comedy case studies are useless, once the joke is out copycats are viewed with disdain. 3. At the heart of comedy is the irony of us being woefully unable to deal with everyday life. For more on this, Steve Kaplan’s “The Hidden Tools of Comedy” is worth reading. 4. Brute force does work. As a young person I thought Johnny Carson was just an amazingly funny guy, then I learned there are teams of people that drive the late night shows. I don’t know why this was so surprising to me, I was also amazed to hear about the same thing about This American Life, only about half of the segments that get made make it to the airwaves. 5. Committees never work, it may be funny, but not funny enough to go viral. This is the bane of corporate humor. Pretty good for 10 people is not even in the same country, never mind neighborhood of awesome to 1. Even great to 4 people will probably be ignored.
  • 32. Humor and Business http://www.roninmarketeer.com/2014/06/25/thats-not-funny/ 6. Humor never works when there is power disparity – making jokes when you are laying someone off is a bad idea. If you are the big boss you may be in for a rude awakening when you tell the same jokes and stories to people not on your payroll. 7. Humor runs the risk of being offensive. As mentioned earlier, a lot of humor is about our inability to deal with life. That’s why there are a lot of victims in comedy and that doesn’t always mesh with political correctness or the PR position of your brand. 8. Much of business is improvisation. I thought there would be a lot of material here. There are a bunch of books on improvisational comedy. 99% of it boils down to working well with your partners and some generally agreed to frameworks (again back to the chess openings). The other theme here that keeps showing up is: do a ton of writing. 9. “Be funny” is like saying, “be charming, be empathic, be service oriented, be a great product designer”. Good advice at first listen, until you realize that there aren’t any detailed instructions besides “Listen well, and act appropriately”. 10. To do one great video, create 10 maybe you’ll be lucky and get one hit. Doing projects one at a time guarantees failure.
  • 33. Finance and Tourism Sectors Australia is the eighth largest tourism market in the world and is fast becoming a major destination for business investment. Located in the world’s strongest tourism region, and the largest global aviation market, Australia offers a secure and stable environment for tourism investors. The financial sector is the largest industry sector by capitalisation and consists of trading and investment banks, asset managers, insurance companies, REITs and other providers of financial services. Due to compulsory superannuation, Australia has the fourth largest pension fund pool in the world, creating a favourable environment for banks, asset management, financial planning and insurance companies.
  • 34. Australia’s Current, Next and Future Wave of Growth 2013- 33 Source: www.buildingtheluckycountry.com.au
  • 35. Positioning for Prosperity? Catching the next wave Deloitte October 2013 Agribusiness: Global population growth of 60 million per year will increase food demand, with Asia’s growing middle classes set to boost their protein intake. Gas: Rapid growth in emerging economies has polluted the air in the major cities to our north. That will underwrite demand for gas, a cleaner and greener alternative. Tourism: This sector is set to double in size in the next 20 years, with Asia’s expanding middle classes fuelling the growth. International education: Foreign students are already our fourth biggest export earner; with India and China likely to drive great growth in demand in the sector. Wealth management: Three billion people in Asia will join the middle class by 2030 and by 2050 the region will account for more than half the world’s financial assets.
  • 36. The Lucky Country? What do you think with respect to doing business in Australia ?