Final Project Report
Executive Summary
The given business report is focused on delivering a final understanding of the major outcome of the business research project conducted on the solutions to make reach normalcy in business operations. The report has focused on the solutions used by companies such as Anatara Lifesciences Ltd in Australia to meet the losses obtained by businesses during the pandemic lockdown as well as the current trading difficulties and regulations imposed on the movement of goods and services. The report has identified the issues that are being faced by businesses to restore their overall business operations regularly and identified the measures which have been taken into account already by companies in the industry. The report indicates the use of secondary sources of data to collect the desired information from various government sites and statistical publications, business publications, an analytical database of the businesses, and industry-specific websites present from the internet. The research focuses on business intelligence to provide nautical and strategic goals to help in the steady accomplishments of the business objectives of the company. The report analyses the business communication gap that can align back the consumers’ confidence. The external and internal strategic areas such as marketing opportunities are chalked out to show how the business of this health center can go back to normalcy. The report analyzes the SWOT and PESTLE analysis to understand the strategic execution of capstone projects. The work safety environment for the employees to be analyzed and understand the legislation conditions though that report excludes the legal issues. The project design is based on a descriptive research methodology to understand the economic slowdown and decreasing tendency of business flow. The limitations and research relevance are discussed. Ethical issues are recommended and the research is free of any ethical issues. The report will focus on the rehabilitation framework to analyze the results.
TOC
Theoretical overview
The business environment of Australia has changed during COVID-19.75% of businesses in Australian Businesses have crippled during these pandemic effects. It was observed 73% of Australian businesses had to take support from the supporting systems through governmental measures. 81% of the employees thought that they would be able to work from home but most of the businesses were shut down due to curtailment of supply and chain management from the external part of Australia. 55% of the employees receive their age subsidies because of 3hour work or day during the lockdown period as the government and private companies took responsibilities for their employees. 19% of the employees were provided with lease and rent arrangements and 16% of Australians were provided with deferred repayments. There is a thought process that 43% of the employees will be able to resume work post-pandemic only if Schumpeterian theory is in application with the establishment of innovation by the companies (Hamilton, 2020).
With the post-pandemic effect, the acceleration of positive governance models is to be reconsidered so that business can flourish as there was a shutdown of 62% of the private companies. 45% of the government companies were shut down but there was refurbishment from the government such as ration and regular wages and fewer working hours. The economic resilience of Anatara Lifesciences has dropped significantly though these multinationals were able to succumb to certain losses as the human subjects were available for human physiological tests of the recent medical trend to find vaccination or ways of treatment.GDP contraction is about 6%, the unemployment rate is 10%, 7% deterioration of the household consumption and there is 17% less investment in startup businesses. The federal budget of Australia has come up with a newer economic projection through the investment of AUS$77.3 million in supply chain management initiative(simplified trading system) and AUS$ 454.2million for world-science innovation and AUS$ 333.2million for innovation abilities for industries (Brammer, Branicki, & Linnenluecke, 2020).
Analysis and Findings
To bring back normalcy into the Australian business the companies and government have come with different economic resilience policies, workforce management, and corporate governance.
Theory of management of crisis and recovery planning: Dr. David Gruen has effectively discussed the aftermath concepts of congenial economic concepts of crisis management aftermath COVID-19. Election of 2022 has to deal with the unemployment crisis, where the IMF forecasts that the economic contraction of Australia will be twice the size of Europe. For this Australia has to plan its global capital movement and business penetration in such a way that it has economic penetration into East Asia with Japan, Taiwan, Korea, and ASEAN groups and it has to consider China as its trading partner to manage the crisis and economic recovery. At the same time, with the lowest interest rates, Australia has to increase its unprecedented purchase from Europe with increasing bonds with government and central banks. Active policy instruments of the RBA have to change to reduce the governmental debts that might show pressure on Australian currency ((“Coronavirus (COVID-19) and its impact on business – Sydney Business Insights”, 2020)
Fig1: Changes in financial subsidies by companies
(Source:”Australian Bureau of Statistics”, 2020)
Figure 2:Changes in revenue in August and November
(Source:”Australian Bureau of Statistics”, 2020)
Figure 3: Employment size and decrease in employment size through March to November 2020
(Source:”Australian Bureau of Statistics”, 2020)
Figure 4:Changes in employment size in SMB, MMB, and LB
(Source:”Australian Bureau of Statistics”, 2020)
Figure 5:Change in revenue from July to October
(Source:”Australian Bureau of Statistics”, 2020)
The formidable challenge of fiscal management is to look into the fiscal deficit and intense scrutiny of unemployment to be laid centrally with technological innovation and weaving AUS$100 billion for the commercial decision-making process by the Australian government. Australia has to be tactical and cannot choose sides with the US-China trade war otherwise there will be economic all, of they readily accept their economic policies with international trading facilities there will be combined minimization of financial dislocation and there will be no failures in business with the generation of employment and there will be upheaval in economic upturn higher than 4.5%. The minimization of bankrupt policies is to be mentioned by the RBA. If there is no bottleneck into the crisis management by government and Reserve Bank of Australia it is broadcasted by Economic and Fiscal Treasury of Australia, it that there will be recovery on Australian financed by 2022 and the expansion of the economy will be by 3.74% and GDP will grow by 2.5% Supply chain management and operational management will be retained by the companies and there will sharp increment by opening by global channels through low internet rates that will be maintained by incorporation of Australia finances into that European Central Bank, Bank of Japan and US federal Bank. Now, the tension lies in the fact that these countries are willing to help Australia with less interest in debt payment. The last rate was 0.75% but these have increased with the US federation whereas the debt rates with Canadian and New Zealand have fallen suggesting a high trade-weighted index for Australia in 2021. The policies of RBA have to be effective and there will be an increase in 1/15 of the household income with the steady presidency of the Australian policies. The planning of monetary reductions has been implemented with slow and modest recovery rates and there will be a deficit in the tax revenue( that the government had to increase its investment rather than its spending so that there is again in the total demand for economic gain). Finances and liquidity in Business policies have to be improved with the opportunity that has to be made by the government. The government should focus on the finding of infrastructure programming to improve the economic capacity by removing the obstacles that will help in the growing productivity of the government and private business sectors. Taxation and trade facilitation will be improved with generous principles of depreciation allowance and there will be a pace for new investment in the private business setups. This will in turn minimize the long-term unemployment through the investment in case counseling, retraining, and job subsidies that are supposed to be increased by 34% (Barua, 2020). RBA has to keep the rate low to have overnight cash flow with the three-year rate of bond so that there will be exclusionary policies that can be facilitated through uncertain austerity of the economy that is to be disfavoured in the regain of economic recovery. The government of Australia has to curtail the personal income tax with the permanent tax cut and alternative to financial support that should extend to 2021. Strategy management and branding forecasts with mathematical modeling of Australian taxation have predicted that there will be a slow increase of the taxation and stock exchange value with the start of global trade and mitigation through attitudinal changes in the corporate changes with the immediate effect of 1.3% of capital growth by the business knowledge economy. The government has opened its portal where the business can show its risk management with the framework of growth, change, and the emergence of governance with the cascading effect of responsibilities across the organizations (Andrew et al. 2020).
Corporate governance and new leadership management to reallocate the workforce management of the business companies to uphold the optimization of business protocols with the emergence of solutions to the Board of directors and stakeholders. Corporate governance is not isolated from the business strategies that are to be incorporated (Flew & Kirkwood,2020).
This translation is often managed by the strategy implementation, auditing committee, and internal committee with their significantly changed tools during the promotion of innovation with efficient procedures, perception of errors, reduction of costs with the implications of smoother operating operational devices with economic resilience, and compliance. This positive impact is far-reaching with the benefits of good governance with the leadership behavior and circumstances for the well-defined culture. The conformities with Australian governance have incorporated the application of budget with streamline duties if demands and comprehensive interconnectedness with the directorship responsibilities with the changing corporate directorship which had to be transformative and linear in structure to understand the new challenges of post-COVID factors. The formulation strategies have increased with the controlling risks with compliance of monitoring with performance and agile performance scalability. The bottlenecks are observed with the incorporation of governance safeguards with the value diversity and responsiveness to the shareholders with the management of risks.
Australian markets have seen a rise in the change in governance in the corporate and lead management system. These have shown that the employees were given special attention from 4.5% to 14%. These value evaluations have contradicted the markets of developing countries. These helped the employees to attain the markets after the post-COVID lockdown and their motivation and engagement with the jobs increased over time, though it requires a certain time framework to determine the policy changes that might help in better implementation of the procedure with higher communication skills. The management protection has changed throughout the COVID-19 (Romano, 2020).
Summary: The taxation and government policies have changed with greater regulations and management to provide taxation values that will help in the uplift of the economy and help in the expansion of GDP. The measurable and scalable it’s of taxation and administrative expenses are recommended with taxation policies of Australia and RBA. The mathematical and statistical interpolation by Governmental bodies has shown coping mechanisms to determine the basis of Australian Governmental procedures.