The paper "International Business in Practice" is a good example of business coursework. Pinnacle fresh company deals with the buying and selling of fresh produce. Its business premises in Australia buy fresh produce from farmers in Australia when the seasons are on. When out of season, the company sorts the fresh produce from suppliers in other countries to replenish their stock and to avoid shortages. An efficient inventory control system ensures the continued operation of the company all year round. It stocks fresh products such as asparagus, garlic, onions, stone fruit, citrus fruits, kiwi fruits, and table grapes.
Pinnacle fresh ensures continuous seasonality of their products to avoid losing loyal customers. It sells its products to local consumers as well as exporting them to international consumers. This company offers a perfect demonstration of the operation of international business in Australia. It does not only deal with exportation of products to other countries but also imports some of its produce. The large amounts of its transactions also help in a further demonstration of the practice of international business. The simplicity of its operations also enables a comprehensive analysis of the company, its products and eventually its transactions.
Pinnacle does not only handle a variety of goods but also offers its stakeholders a variety of services. Such services include storage, distribution, quality control, goods inspection and clearance services among others. The choice of this company, therefore, depends on the relevance of its operations to international business and its offer of various transactions. Comparative Advantage Comparative advantage theory suggests that a country should specialize in the production of the goods and services that it can most efficiently produce.
It therefore results from a comparison of more than one country. Mere efficiency in the production of a product does not offer the country a comparative advantage (Adekola & Serge 2012). This efficiency must exceed the efficiency in the production of the same product in other countries. Australia enjoys a comparative advantage in the exportation of various commodities such as fresh produce and mining resources. This comes as a result of various factors that lack in most nations and that determine the success of the production. The factors of production include labor, capital, entrepreneurship, and raw materials. The mining booms experienced in Australia over the years led to an increase in population in the country.
This resulted from the migration of people from various countries seeking to invest in the mining industry and other subsidiary industries while others sought after jobs. This made Australia a multicultural nation with a high population that rises consistently. A high population has its limitations but also offers a country various advantages. It ensures high demand for the locally produced goods since the people act as the end consumers.
Another advantage involves the provision of a wide pool of labor. Readily available labor increases the production capacity of a nation. Natural resources offer Australia an upper hand in both mining and agriculture. The fertile soil and landscapes offer a thriving ground for farming. Availability of a large portion of land suitable for farming with adequate rainfall boosts the agricultural production in the region. The climatic conditions in the country offer an enabling environment for farming. Most agricultural farm products thrive in Australian soil.
Irrigation schemes also enhance agricultural production in the region when the rainfall level lowers. Proximity to the market for farm produce also offers the agricultural sector a great boost. This comes because of the proper infrastructure installed throughout the country (Dunning 2000).
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The book offers the reader a foundation in the understanding of international business and basic concepts of the trade.
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