Sydney, Australia (PRWEB) March 13, 2009
Although the global financial crisis (GFC) has affected all parts of the world, the Australian economy remains stronger than that of most other countries. Australia has only experienced a small retraction in growth for the last quarter. The reason for the stronger economy is that the Australian government experienced great budget surpluses prior to the GFC. These surpluses are now used to help stimulate the local economy.
Furthermore, the Australian banks are in better shape than most other banks and there is no real mortgage crisis. Australian commodities are still in demand and exports to China, in particular, are expected to dampen the impact of the GFC.
Australia's last recession was in 1991 and the country has only had two negative years so far since 1965. This shows that Australia tends to do better than most countries during tough economic times.
Peter Karlsson still warns against complacency. During these more challenging times, innovation and a unique value proposition are essential. Understanding Australian culture is also essential. Even during boom periods, some foreign companies failed because they did not fully understand the difference in culture between Australia and other parts of the world. (http://profitsandpeople.com.au).
Profits and People focus on people, culture, process and systems to help create greater profits and rewards. Peter Karlsson has vast experience in working with different types of organizations on different projects across many different industries. He has more than twenty years experience of working in the Australian Pacific region and has always stressed the importance of understanding different cultures. He favours a custom tailored approach since different organizations have different needs.
Profits and People Pty Ltd
+61 2 9999 6284
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