Australian Entrepreneur Ecosystem (Dissertation Sample)

Australian Entrepreneur Ecosystem
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Table of contents
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Abstract  PAGEREF _Toc434262827 \h
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Chapter 1 Discussions  PAGEREF _Toc434262828 \h
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1.1 Introduction (200 words)  PAGEREF _Toc434262829 \h
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1.2 The Australian market (800 words)  PAGEREF _Toc434262830 \h
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1.3 Political, economic and social-culture variables (800 words)  PAGEREF _Toc434262831 \h
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1.4 Institution, public policy and regulatory systems (800 words)  PAGEREF _Toc434262832 \h
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1.5 Entrepreneurial culture in Australia (650 words)  PAGEREF _Toc434262833 \h
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1.6 Infrastructures (for startup development) in Australia (750 words)  PAGEREF _Toc434262834 \h
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1.7 The Australian economy (650 words)  PAGEREF _Toc434262835 \h
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1.8 Startup in Australia (550 words)  PAGEREF _Toc434262836 \h
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1.9 Judgment of the Australian entrepreneurial ecosystem (400 words)  PAGEREF _Toc434262837 \h
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1.10 Conclusion (200 words)  PAGEREF _Toc434262838 \h
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References  PAGEREF _Toc434262839 \h
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Total maximum word count 5775 words 21 pages (275 words per page)
Style: Harvard
US English
Discussions
Introduction (200 words)
According to Isenberg (2014), entrepreneur ecosystem refers to the fostering of entrepreneurship as an economic development strategy, either by a business, an organization or a country. Other authors have provided different meanings for entrepreneur ecosystems. In Manimala and Wasdani (2015)’s view, entrepreneur ecosystem is the systemic and collective nature of entrepreneurship. Manimala and Wasdani (2015) added that new firms emerge due to employee efforts and the presence of an environment or ecosystem made of private and public players, thus making the work of an entrepreneur easier. Manimala and Wasdani (2015) however noted that an ecosystem can hinder entrepreneurship, especially in the case of the public sector due to corruption, mismanagement and other unethical practices within the new venture. In the same fashion, Feld (2012) noted that entrepreneurial ecosystems consist of elements that can be classified into six domains. These classifications allow the entrepreneurs to understand better all the aspects of a particular market (Feld 2012). From these classifications, the government can evaluate whether it has a good entrepreneur ecosystem and identify the steps to be taken to improve these ecosystems, knowing well that each entrepreneurial ecosystem is unique and that all elements of the ecosystems are interdependent (Isenberg 2014).
The Australian market (800 words)
Bangs and Halliday (2001) observed that a market analysis studies the attractiveness of a particular market to provide an entrepreneur with a better and deeper understanding of the markets in which they plan to start and operate a business. According to Bangs and Halliday (2001) technology has brought about a change in the Australian market by increasing market speed, capacity, sophistication and automation of trading for the market operators. It has also introduced new participants into the market thus boosting the Australian economy. The government has introduced regulations and policies to ensure that the financial and other markets are fair and efficient with modern market innovations (Bangs and Halliday 2001). Gal (2009) however noted that the Australian money market may be in a global crisis due to its liquidity. Since 2007, the functioning of money markets declined globally since many participants of the money markets placed a greater value on retaining liquid assets. From then, the recovery of the money markets has been critical, with many countries experiencing this significant challenge.
Gal (2009) noted that market integrity is an important aspect of the Australian market. Gal (2009) added that the integrity rules are adopted to address the emerging risks from the developments in market structure, including the growth of automated trading and the changing nature of dark liquidity. The Australian government implemented several legislative rules to address the market integrity rules. The Australian Securities and Investments Commission (ASIC) was tasked with developing the integrity rules (CCH Australia Limited 2011). The legislation instruments addressed various aspects of the Australian market. Bangs and Halliday (2001) noted that the ASIC discussed the rules for competition in the exchange market which noted the integrity rules for extreme price movements, pre-trade and post-trade transparency and enhanced data for market surveillance. It also provides guidance on systems and controls for the holders of an Australian market license (Bangs and Halliday 2001). Similarly, the Australian Securities and Investments Commission proposed market integrity rules and policies that must be followed in Australia’s market. These rules related to enhanced data for supervision; volatility controls for extreme price movements, and product scope of best execution (CCH Australia Limited 2011). Similarly, they addressed the automated trading that included high-frequency trading and also the pre-trade transparency and prime formation in the market (CCH Australia Limited 2011).
Arup and Wishart (2002) noted that Australia makes use of competition laws that are aimed at promoting competition per se. Arup and Wishart (2002) added that competition policies seek to facilitate effective competition to foster economic growth and increase efficiency while accommodating situations whereby competition does not interfere with other social objectives. Competition policy deals with the extent and nature of competition in an economy. It encompasses the legislation and government actions that influence the permissible competitive behavior by firms and the remedy offered in case of such violations. According to Arup and Wishart (2002), the Australian market makes use of policies and regulations to protect consumers from exploitation and misuse of market power. Australia’s legislation laws prohibits a corporation with substantial market powers from taking advantage of the market power for a prohibited purpose (Arup and Wishart 2002). Arup and Wishart (2002) also noted that the prohibited use includes the prevention of entry into the market, damaging or eliminating a competitor and deterring or preventing a person or entity from participating in the market. These laws are mainly developed to prevent market misuse especially by corporations, parastatals and monopolies (Arup and Wishart 2002). In CCH Australia Limited (2011)’s view, the legislative laws as highlighted under section 46(1) helps in determining whether a company has substantial market power and if it is possible for a corporation to have significant market power. CCH Australia Limited (2011) added that majority of cases regarding misuse of market power have failed due to lack of sufficient evidence to prove this element. In response to these decisions, the Trade Practices Legislation Amendment Act of 2008 provided some guidance on the arbitration of cases regarding taking advantage and misuse of market powers. This law protects the interest of people and firms when entering a particular market.
Guzman (2011) observed that the main bodies governing market competition in Australia are the Australian Competition and Consumer Commission and the Australian Trade Practices Commission (TPC). The bodies are aimed at considering the market aspects and implement laws and policies to ensure efficiency and economic growth (Guzman 2011). Some of the mandates of these commissions include price surveillance, protection of the rights of consumers, business and preventing the illegal anti-competitive behavior. Additionally, they have the obligation to perform an industry regulation and price monitoring (Guzman 2011). CCH Australia Limited (2011) added that the ACCC regulates certain industries such as telecommunication and energy industries as well as granting access to the national infrastructure system. The ACCC also educates consumers and businesses on their rights and responsibilities under the Act (CCH Australia Limited 2011).
Political, economic and social culture variables (800 words)
According to the observations presented by Slideshare (2015), the businesses environment is affected by political, social and economic variables. Slideshare (2015) noted that there are some micro-environmental factors associated with the operation of the company, in physical and organizational manner. These factors are connected to a part of the behavior of the employees, supplier, and other intermediaries. Equally important, Slideshare (2015) noted that the most important factors are the macro-environment that are inevitable in the firm and cannot be controlled by the organizational management and they have an enormous impact on an organization. For a firm looking to invest in Australia’s market, these factors are inevitable and have to be considered before formulating the business plan. These factors are located at global and national levels that lie under the physical, organizational influence of the firm. In the same fashion, Slideshare (2015) noted that the business must consider these factors both in the long run and in the short term and analyze the effects on the firm in the near future. In the case of international expansion, Slideshare (2...