Global – Costs, Skills, Supply
- Australian businesses compete in a rapidly changing environment
- Australia continues to experience a shortage in skilled labour. This can be targeted through the skilled migration program, such as the Temporary Skills Shortage visas (subclass 482).
- Global businesses have to balance the cost of cheaper labour with the cost of training labour with the required skills.
- Companies enter international markets by:
- Exporting products overseas
- Building production facilities in another country
- Using foreign labour to increases expertise or minimise costs
Extract from Business Studies Stage 6 Syllabus. © 2010 Board of Studies NSW.