Warnings Of The Dangers Of Cigarettes And Tobacco

Warnings of the dangers of cigarettes and tobacco surround us on a daily basis yet smoking persists. Do millions of people continue to smoke for reasons more powerful than previously imagined? What, for example, could possess a heart attack victim to light up a cigarette the moment he is wheeled out of the coronary care unit? (Blakeslee) There must be some deeper cause. Something must exist to drown out the warnings and entice smokers despite the evidence of disease and death. The answer lies in nicotine and its addictive qualities as well as the concentrated campaign waged by the tobacco companies to peddle their wares. It is ridiculous to consider that tobacco companies are unaware of the dangers of their products. Indeed, they are†¦show more content†¦Before succumbing to their smoking related disease, the afflicted smokers will inevitably need care for their condition, incurring tremendous costs. This can cost the population of smokers billions of dollars every year (Day nard). If the individual smoker does not have insurance or is otherwise unable to meet the enormous costs, the bill can end up passed to the taxpayers, merely passing along the expense. In addition, the dangers posed by cigarettes are not limited to smokers themselves. Every year in the United States, 400,000 babies are born whose mothers smoked while pregnant. Additionally, smoking is thought to be responsible for in excess of 20,000 miscarriages and possibly seven times that number (Proctor 5). The babies that survive to term are at risk for a host of health issues, including low birth weight, increased danger of Sudden Infant Death Syndrome, as well as possible delays in mental and behavioral development and increased possibility of birth defects such as cleft palate (Ashwin). Though the fetus does not actually inhale the smoke, the substances and poisons entering the mothers body cannot help but affect the unborn. In the face of these horrific statistics, why does anyone continu e to smoke? The answer can be found in examination of the mechanics of nicotine. An abused drug, as defined

Post Traumatic Stress Disorder Exposed in the Novel 1984,...

Post Traumatic Stress Disorder is a mental condition that ails soldiers and civilians alike who have been unfortunate enough to endure terrifying life harrowing experiences. Those who experience this disorder are prone to pejorative flashbacks to the time of the incident that triggered the neurological disorder. Most soldiers are capable of withstanding the withering physiological strain of combat, however a growing portion of people exposed to the graphic belligerence of war are prone to PTSD. In the novel 1984, George Orwell writes on multiple occasions of graphic war depictions and human pain. Having served in the Spanish Civil War, Orwell was exposed to violent reactions long before PTSD was officially diagnosed or†¦show more content†¦The symptom that most acutely describes the mental condition is recurring flashbacks of the event that triggered the PTSD originally. In 1984, George Orwell depicts a totalitarianism society where violence is common place. Early in the boo k Orwell renders a depiction of graphic film, wherein â€Å"a ship full of refugees [is] being bombed,† as well as the crowds of the theater roaring with laughter at the sight of a lifeboat full of children being annihilated (Orwell 11). This graphic description can be traced to Orwell’s own history in the Spanish Civil war, where he saw combat and fought against Franco’s party. Those who suffer from PTSD are forced to search for means of releasing the stress of their memories and consistent flashbacks. Modern patients, who are able to take advantage of advanced medicine, still find it essential to leading a normal human life to discover medians of release. Orwell found his in 1984. On May twentieth, 1937, George Orwell was shot in the neck by a sniper while serving on the front lines of duty. He described it directly as being â€Å"a tremendous shock†¦ a violent shock† (Orwell). Despite accurately depicting the event in Shot by a Fascist Sniper, It is evident in 1984 that the shooting was the origin of his PTSD. Winston, the protagonist of 1984, can be quoted saying â€Å"they’ll shoot me†¦ they’ll shoot me in the back of the neck,† referring to the absolute government under whose rule he was subject (Orwell 20). This is simple testimony to the face

Accounting Standards Regulation Financial †Myassignmenthelp.Com

Question: Discuss About The Accounting Standards Regulation Financial? Answer: Introducation The AASB 136 on impairment of assets seeks that the asset of any organization shall not be recorded in the financial statement at the value which is more than the carrying value. As per Para 10 of the standard, the assets whether it is tangible or intangible and the goodwill must be tested for impairment at least once in a year. Further, Para 12 of the standard states the external as well as internal source of information that can indicate the fact that whether the asset shall be tested for impairment or not (Aasb.gov.au 2017). Requirement of evidence with regard to testing of impairment If the internal sources of information are taken into consideration for determining the test of impairment, asset will be taken into consideration as the major indicator for AASB 136. Looking into the financial performance of Myer Holdings Ltd, it is recognized that the operating revenues of the company is in decreasing trend. The Operations revenue of the company was highest during 2009 and amounted to $ 32,65,000,000 and after that it started declining and reached $ 27,26,005,000 during 2012. Further, looking at the balance sheet of the company, it is identified that the non-current intangible assets of the company was highest during 2009 and amounted to $ 909,000,000. However, during 2010 there was significant decrease in the value of intangible and it reached to $ 571,486,000 and the trend was decreasing. Moreover, the net profit margin of the company of the company was also in decreasing trend (Investor.myer.com.au 2017). On the contrary, if the external information sources are considered, it is identified that Myer is planning to restructure their store in Frankston to compete with Amazon. It was found that Myer was heading towards significant changes with regard to economic and technological environment from Amazons entry. As Amazon sells their entire product through online, enabling the customers to shop from any corner of the world, the physical stores of Myer were losing considerable part of their customers. These all facts pushed Myer to change their strategies and look of their stores as well as the uniform of the store staffs (Investor.myer.com.au 2017). Determination of process for asset impairment Once the evidence is established with regard to the impairment the asset is tested for impairment. The asset is impaired when the carrying value of the asset is more than its recoverable amount. The recoverable amount is the higher among the value in use and fair value of the asset reduced by disposal cost. The impairment loss is identified as the expense under the profit and loss account (Christensen et al. 2015). Further, if the asset is a revalued asset, the amount of impairment loss is recorded as against the earlier identified revaluation gain of the asset. Further, if indication is there that a particular asset may get impaired, the recoverable amount or the cash generating unit (CGU) of the asset is determined. On the other hand, if it is not possible to forecast the recoverable amount of individual asset, the recoverable amount for the CGU under which the asset is included shall be determined. Recoverable value for individual asset is not possible if The value in use of the asset cannot be forecasted to close of the FVLCS Assets do not create any cash inflow that widely is independent from other assets. If Myer Holdings Ltd is considered, the goodwill generated from business acquisition cannot be recognized with separate CGU. Therefore, the goodwill will be allocated for the entire business (Miller and Power 2013). The company uses the cash flow forecasting for 5 years and for more than 5 years terminal growth rate is used. For the impairment calculation following assumption are taken into consideration Rate of terminal growth to be assumed as 2.5% Rate of operating gross margin to be assumed as 39.5% The pre-tax rate of discount to be assumed as 14.4% The management of Myer Holdings Ltd compare the carrying value of the asset or the carrying value of the CGU with the budgeted one. If it is found that there is any indication of impairment, the recoverable amount and value in use for the particular asset is measured immediately (Linnenluecke et al. 2015). Further, Myer examines each of their stores separately for the purpose of impairment test. Further, the fair value for the asset will be calculated as the amount that can be achieved through the sale of the asset in the arms length price among the willing and knowledgeable parties and from that the disposal cost of the asset shall be reduced. The value of the asset shall be taken from the balance sheet and after that the estimated sale value shall be calculated. Required information for determination of impairment Para 30, under the AASB 136, states that the value in use of asset is crucial for determining the assets liquidity status. For estimation, the recoverable amount of any asset is higher among fair value less disposable cost and value in use. Further, the impairment loss for the past period shall be adjusted in the subsequent period, if there is any alteration with regard to the asset. Further, the requirement of information is required as follows Information shall be obtained for the rate of average growth for the cash flow Various economic data are required for making the assumptions Information related to the market under which the company is operating is required Information is required for the justification of the budget (Oulasvirta 2014) Information is required for determining the industry growth rate Further, the company uses the discounted cash flow approach for forecasting the cash flow for 5 years and for more than 5 years terminal growth rate is used. The value in use is the present value of future cash flows projected to be gained from the CGU or the asset. Finally, the recoverable amount is the higher value among the fair value and value in use. Managements flexibility in impairment determination ASIC does not require that the management shall be experts with regard to the accounting knowledge. However, they can always seek assistance from the knowledgeable person. The management shall look into the matter deeply where the forecasting does not match with the actual figures. Further, the information shall be reviewed and presented clearly so that it can be used by the users (Wang 2014). The main concern with the identification of correlation among the opportunistic motivations and asset impairment is the management for their own benefit may not recognize the impairment and show the assets in the financial statement at higher values. It is also a matter of concern to analyze that to what extent the impairment of asset is consistent with the releveant requirement of the regulation. Therefore, the main focus is whether the financial statement is prepared in compliance with the AASB 136 or not and whether the company is recognizing the impairment of assets as per AASB 136 (Bond, Govendir and Wells 2017). The managements flexibility is the managements ability with regard to making the assumptions and estimations. As per Para 30 of AASB 136 the calculation of value in use requires the calculation of future cash flows. Further, Para 24 of AASB 136 states the way through which the recoverable amount of the intangible assets are measured by the management. While the future cash flows are measured, the management is flexible enough for establishing the proper assumptions (Gackstatter and Mller 2016). Further, the projected cash flows for the future is calculated based on the assessment made by the management taking into consideration the expected economic condition for the future. Therefore, it can be said that the management is flexible enough for the determination of impairment test. Reference Aasb.gov.au. 2017. Australian Accounting Standards Board (AASB) - Home. [online] Available at: https://www.aasb.gov.au/ [Accessed 26 Aug. 2017]. Bond, D., Govendir, B. and Wells, P. (2017). An evaluation of asset impairment decisions by Australian firms and whether this was impacted by AASB 136. Australia: Accounting Discipline Group, University of Technology Sydney. Christensen, H.B., Lee, E., Walker, M. and Zeng, C., 2015. Incentives or standards: What determines accounting quality changes around IFRS adoption?.European Accounting Review,24(1), pp.31-61. Gackstatter, T. and Mller, K., 2016. Triggering Events in Asset Impairment Accounting-a Case Study in the Automotive Industry. Investor.myer.com.au. 2017. Myer Investor Relations. [online] Available at: https://investor.myer.com.au/Investor-Centre/ [Accessed 26 Aug. 2017]. Linnenluecke, M.K., Birt, J., Lyon, J. and Sidhu, B.K., 2015. Planetary boundaries: implications for asset impairment. Accounting Finance,55(4), pp.911-929. Miller, P. and Power, M., 2013. Accounting, organizing, and economizing: Connecting accounting research and organization theory.Academy of Management Annals,7(1), pp.557-605. Oulasvirta, L., 2014. The reluctance of a developed country to choose International Public Sector Accounting Standards of the IFAC. A critical case study.Critical Perspectives on Accounting,25(3), pp.272-285. Wang, C., 2014. Accounting standards harmonization and financial statement comparability: Evidence from transnational information transfer.Journal of Accounting Research,52(4), pp.955-992.

Introduction to International Business- myassignmenthelp.com

Question: Discuss about theIntroduction to International Business for Global Strategy. Answer: A Review of Global Strategy: An Organizing Framework This article written by Sumantra Ghoshal aims at providing a conceptual framework relating to the different issues relevant to the global strategies. This article shall assist the managers working in multinationals corporations, in analyzing and reviewing the issues that are associated with the global strategies of such multinational corporations. The author discusses about the changing and developing concepts of global strategy, portraying the significance of an organization framework within a company. In his attempt to analyze the distinct views and concepts relating to global strategy, the author discusses about the theories asserted by Hout, Hamel, Prahalad and Levitt. In their opinion, the term global strategy encompasses international flow of human resources, development of values and advancement in technology. It is often observed that the corporate objectives contradict with each other owing to the multidimensional aspect that characterizes such corporate objectives. In the words of Ghoshal, Actions to achieve a particular objective often impede another equally important objective. The significance of this article lies on the fact that it acts as guidelines that would enable the managers of multinational companies to review their strategies that already exists instead of developing new ones for the purpose of achieving more global strategies (Ghoshal 1987). The article commences with several perspectives and prescriptions that have been developed by other writers and the author differentiates between his own perceptions with that of the other writers on global strategy. He precisely discussed the views of the four writers and entailed how their perceptions may contradict with each other. He further explains the difference between the integrated analysis of different means and ends are more useful as compared to the simple categorizing approach that merely differentiates between multi-domestic strategies. The author, Sumanta Ghoshal further advises the readers that in order to be successful, the firms must distinguish the management system of the firm so that the managerial activities fall under the internal consistencies within the firm and the external consistencies within its own environment. The author opines that this simply serves as a starting point for planning the overall strategies of the corporation (Ghoshal 1987). The author asserts that managers working in multinationals must have knowledge about the most effective global strategy and has provided theories that would assist the managers to understand the meaning and significance of global strategy in a corporation. On the other hand, the author states that the present literature contains certain confused and ambiguous findings that would hinder the implementation of the global strategies so recognized, in practice. This implies that although the author has provided several theories and concepts to understand the concept of global strategy and its importance for any corporation, but at the same time, the author did not clearly mention about any particular theory, which could be used in practice. Ghoshal asserts that the fundamental nature of an organizing framework and the means to a successful global strategy is to maintain the interaction between the various means and goals. The MNCs may be in a beneficial position with the implementation of the organizational framework, as the framework would outline the inconsistency between the various goals and means, focusing more on the strategic dilemmas (Ghoshal 1987). The author supports his argument with the presentation of a table that demonstrates the relationships between the strategies objectives and the sources of the advantage and the means of realizing the goals with the use of such sources. Ghoshal further combines the new-resource based theory with the traditional industrial organization-based theory with a view to form a stringent theoretical foundation (Ghoshal 1987). He also takes the internal industrial performance and the external international factors into account. He is of the view that in global trading, business performance can be enhanced if it is capable of adopting an appropriate and effective strategy that would make the maximum optimization of the internal resources and would be sufficiently competent to respond to any external challenges. Ghoshal further states that since the multinational companies set up its subsidiaries in various countries might be affected by contradictory values, conflicting cultures, geography, economic condition etc. In order to maximize the earnings of the company from the internal capabilities o the corporation, it is imperative for a multinational company to adopt and implement the innovative actions, adaptation and learning as they are considered as fundamental instruments to bring the corporation in an advantageous position (Ghoshal 1987). This argument presented by the author implies the fact that learning, innovation and adaptation which is known as the fundamental instrument of optimizing the internal capabilities of the multinationals, shall enable the corporation to survive the competitive performance and possibility of the company in the globalization economy. The author emphasis on the fact that for the purpose of making optimum use of potential for learning, the international organizations must also consider earning as a precise and specific objective. In this article, the author did not provide any further research on validity and reliability. The article did not provide any clear idea about the learning model to be build so as to enable the learning goals to attain the objectives in practice. This review has summarized as well as analyzed the article Global Strategy: An Organizing Framework written by Sumanta Ghoshal. The article acknowledged the complex nature of the issues in various ways, For instance, the author explained how the managers of multinational companies may contradict with each other while determining the appropriate strategic advantage for the companies. The article further explained the adverse effect that might arise with the globalization of the companies owing to the lack of knowledge and awareness among the managers with respect to the concept of global strategy and adoption of the type of global strategy that should be adopted for maximum optimization of the resources of the organizations. The information provided in this article is accurate, credible and easily accessible. The article has provided with a better understanding amongst the business community with respect to the advantage and the disadvantages that are associated with the globalization of the multinational companies. Reference Ghoshal, S., 1987. Global strategy: An organizing framework.Strategic management journal,8(5), pp.425-440. Introduction to International Business- MyAssignmenthelp.com Question: Write about theIntroduction to International Business. Answer: Introduction: Globalization represents a process by which national economies become interdependent and integrated with one another. It is transforming the conventional way of conducting business across globe. Current globalization wave has also created impact on the way different industries are focusing on conducting business in Australian market. The globalization concept was started from the human civilization process. Adam Smith has argued against the mercantilist theory and advocated trade practices so that countries can able to produce their best product at cheaper price. In the current business structure, globalization has allowed businesses to reach beyond the geographical boundaries for achieving continues success (Papastergiadis, 2013). However, it has also increased the challenges for businesses related to the differences in culture, linguistic, education, values, oral and ethics among the people living in different geographical region. In 1980, Australia has opened up its economy as it was suffering with high unemployment rate and declining economy. Introduction of globalization in Australia has allowed foreign business entities to enter into the market, which has created positive impact on the GDP growth rate (Lingard Sellar, 2013). Moreover, inclusion of foreign businesses has provided more job opportunity for the Australia people. Globalization has primarily influenced for prime Australian business sector including service, manufacturing, mining and agriculture. End of Protectionism: Zero sum game concept of trade was very much in practice in Australian economy from the beginning. Historically, the management of Australia has believed on the mercantilist concept of selling more and purchasing less from other economies. Moreover, Australian government has maintained restriction on foreign direct investment (FDI) as well (Glatzer, 2012). In fact, it has focused on trading its vast gold reserve and other natural resources. However, it has increased the rate of inflation and unemployment rate in Australian market significantly. In order to boost up the economical enhancement procedure, Australian government has no other option than utilize globalization phenomenon. As a result, the economy has withdrawn all the rules and restriction regarding the entering of foreign businesses within the economy. It has directly increased the standard of life of Australia domestic people. On the other hand, globalization has allowed foreign investors to invest more on Australia for g rabbing the major section of potential market. It has also created positive impact on the employment opportunity for the domestic people of Australia, as companies do not have to face too much restriction in including different advance process or technologies within countries. Thus, end of protectionism has allowed Australia to improve present condition of the economy in an effective manner. Shift in the Manufacturing Sector: As per the article by Dwyer et al. (2013), globalization has allowed economies to create labor-intensive jobs in the manufacturing process. Moreover, it has induced organizations to follow minimum pay guidelines in the manufacturing units, which reduced the adverse impact of low wage manufacturing processes. Over the past two decades, conventional labor-intensive sectors have undergone massive changes that displaced different industrialized economies gradually. Hence, it is reducing the advantage level of industrialized countries. Globalization has provided businesses the opportunity to transfer their production units in different countries where the cost of labor and other raw materials is relatively low. Therefore, most of the prime Australian organization has outsourced the production activities in different countries. The Australian organizations have used contract with low wage counties and FDI for retaining their competitive advantage in the global platform. As per Heckscher-Oh lin factor endowment theory, globalization has provided Australian economy the opportunity to import more labor-intensive products like footwear, textiles and paper from the countries like India, China, Indonesia, Thailand and Malaysia. This outsourcing practice has allowed Australian economy to minimize their human resources for more productive activities. As illustrated by Papastergiadis (2013) globalization has increased the popularity of high technology based manufacturing sector in Australian market. As a result, it has induced Australian people to focus on enhancing present level of knowledge and skills. Comparative advantage theory has described that international trade compel an economy to focus on specific production of products so that it can allow import of required amount of goods in an effective manner. Now, Australia has focused on developing knowledge based economy by producing and designing specific high tech products, which is likely to create positive impact on the manufacturing sector. For instance, outside USA, Australia has the largest Boeing operation and it is growing at a rapid rate in both sales and RD sector (Dwyer et al., 2013). Globalization has also allowed businesses to perform decentralized manufacturing activities for achieving success in the market. For instance, decentralization has allowed General Moto rs Holden to utilize Australian economy as a center of excellence for producing and designing Rear Wheel Drive (RWD) cars. According to QIU, YE SUN (2012) globalization has also provided the opportunity of using flexible accumulation technique in their production procedure. Now, flexible accumulation reflects subcontracting, downsizing, increasing use of temporary workers, decreasing weight of industrial sector that is minimizing the power of trade union and government regulations. Introduction of globalization has induced Australian economy to become more lean and flexible. As a result, it has allowed businesses more opportunity to reach to its niche market with the appropriate fulfillment of customers needs and wants. Therefore, it has allowed Australia to achieve continues growth in the production volume, which has eventually increased the rate of growth of the economy. Growth in the Service Sector: Globalization has also revolutionized the way service sector conducted their business activities. Presently, Australia represents one of the biggest mixed market economies across the globe. Service sector represents around 50% of the total Australian GDP, which is accounted close to 80 billion (Chan, He Wang, 2012). Australian service sector includes financial institutes, trade, wholesale, education, tourism and healthcare. Globalization has allowed Australian economy to achieve consistent growth that has also created positive impact on the businesses of the financial institution. Forbes has mentioned that 6 out of 10 biggest organizations in Australia are financial service providers or banks. Increasing use of financial services has allowed strong showing of the economy, which eventually created boom in the property market, strengthen consumer confidence and investment over the past two decades. Geographical position of Australia along with highly advanced financial sector has allo wed Australian firms to focus on different other Asian and European market for business purposes. Globalization has induced majority of the economies to relax most of the regulations related to international businesses. As a result, it has increased the mobility of capital across the countries in an effective manner. It has enhanced the growth rate of Australian financial institutions in a major way. For instance, Australian GDP has increased on an average of around 7% per year during the time 1970 to 1997. On the other hand, FDI increased by 31% and international trade increase by around 12% per year (Graves Shan, 2014). Global investment opportunity has enlarged the potential market for Australian financial institutions. In addition, it also reduces the risk associated with fluctuation in market rates and exchange rates. Globalization has allowed financial services to segregate the risk into different markets for achieving success in the market. In addition, globalization has allowed organizations to focus on enhancing their present IT infrastructure for providing higher quali ty of services (McDonald, Mayes Pini, 2012). Australian economy is very advanced and maintains close proximity with higher growth markets in Europe and Asia. Therefore, it has allowed Australian economy to include different advance tools in medical and healthcare facilities, which has created direct positive impact on the quality of living in the Australian market. Globalization has increased the growth of tourism sector significantly. Globalization has allowed foreign visitors to come in the country freely. It has allowed Australia to emerge as one of the biggest tourist destination of the entire world. Presently, estimated value of tourism industry is around 63.3 billion, which represent around 3% of total Australian GDP. Moreover, it has provided job to around 580,000 Australian people that reflects 5% of the total workforce (Jungmittag, Reger Reiss, 2013). Impact on Agricultural Sector: Traditionally, agriculture represents a prime major export element of Australia, as it endowed with favorable climate and large land area. Australian tariffs and subsidies have also contributed to the enhancement of agricultural sector. Now, increasing workforce in the knowledge and skill based sector has induced farmers to focus on developing more efficient agricultural for fulfilling the needs of the economy. As a result, it increases the demand for high quality seeds and other supplementary products associated with agricultural sector. Now, farming often requires bigger labor force, which has induced different developed countries to focus on import products for fulfilling their food needs. Globalization has provided Australia the opportunity to target those economies for conducting their export activities effectively. Moreover, it has allowed Australian government to invest more on RD of agricultural, which is necessary for maintaining competitive advantage in the market. Australi an government also has not protected the agricultural activities like Europe or UK market, as it can create challenges in exporting products consistently. Therefore, globalization has enhances the demand of Australian firms product significantly. Presently, Australian agricultural industry value is around $155 billion, which is close to 12% of the entire GDP (Schandl West, 2012). For that reason, several research institute and organizations has been formulated in Australia for achieving production efficiency even further. Therefore, the agricultural sector in Australia is likely to achieve consistent growth due constant increase in the production efficiencies. Improvement of Mining Sector: As per the article by Simas et al. (2014), globalization has also created massive impact on the business activities associated with the mining sector. The present usage of energy is not likely to slow down in near future. In fact, US Energy Information Administrator (EIA) has projected around 35% increase in the energy consumption by 2035 (McIntosh, 2012). Now, Australias global mineral resources possess relatively high supply concentration due to the favorable location. It is increasing the present level of prices for the mineral products. It has increased the needs of Australian mineral resources, which eventually increases the market potential significantly. However, mineral resources also create major environmental issues that Australian economy has accounted for achieving success in the global market. Moreover, the world is moving towards the coal-generated electricity. Therefore, it has increased the demand for Australian coal in the global market. Globalization has allowed Aus tralian Coal Association to target different foreign market for enhancing the revenue level of the industry (Alexeeva Anger, 2016). Presently, Australia is the biggest coal exporting country that has its presence in almost all across the globe. Now, increasing reach in the global market has induced Australian energy or mining sector to become technology dependent and high capital intensive (Ridoutt et al., 2014). Moreover, globalization has also allowed Australia to emerge as the major exporter of liquefied natural gas in the entire Asia Pacific region. Globalization has allowed this sector to achieve consistent growth in the global market activities. It has allowed all the prime energy organizations of Australia to operate all across the globe for enhancing the revenue level even further. For instance, globalization has allowed energy organizations like BHP Billiton to establish its presence in all parts of the globe (Reeson, Measham Hosking, 2012). Conclusion: The above illustration has highlighted the fact that globalization has completely transformed the way entire business activities are conducted in the market. It has created impact across sectors that allowed Australia to achieve continues economic growth in the market. Before introduction of globalization, Australian economy was struggling to provide desired life to all the citizens. However, globalization has allowed Australia to emerge itself as one of the strong economy in the entire market. It has allowed manufacturing sector to enhance their quality of production, which has reduced the requirements of energy sources. On the other hand, it has revolutionized the tourism and medical services in a massive way. In addition, it has also helped energy and mining sector of Australia to grow consistently. To conclude, it can be mentioned that globalization phenomenon has completely transformed the economical condition of Australia. References: Alexeeva, V., Anger, N. 2016. The globalization of the carbon market: Welfare and competitiveness effects of linking emissions trading schemes.Mitigation and Adaptation Strategies for Global Change,21(6), 905-930. Chan, H. K., He, H., Wang, W. Y. 2012. Green marketing and its impact on supply chain management in industrial markets.Industrial Marketing Management,41(4), 557-562. Dwyer, L., Forsyth, P., Spurr, R., Hoque, S. 2013. Economic impacts of a carbon tax on the Australian tourism industry.Journal of travel research,52(2), 143-155. Dwyer, L., Forsyth, P., Spurr, R., Hoque, S. 2013. Economic impacts of a carbon tax on the Australian tourism industry.Journal of travel research,52(2), 143-155. Glatzer, W. 2012. Cross-national comparisons of quality of life in developed nations, including the impact of globalization. InHandbook of social indicators and quality of life research(pp. 381-398). Springer Netherlands. Graves, C., Shan, Y. G. 2014. An empirical analysis of the effect of internationalization on the performance of unlisted family and nonfamily firms in Australia.Family Business Review,27(2), 142-160. Jungmittag, A., Reger, G., Reiss, T. (Eds.). 2013.Changing innovation in the pharmaceutical industry: globalization and new ways of drug development. Springer Science Business Media. Lingard, B., Sellar, S. 2013. Globalization, edu-business and network governance: the policy sociology of Stephen J. Ball and rethinking education policy analysis.London Review of Education,11(3), 265-280. McDonald, P., Mayes, R., Pini, B. 2012. Mining work, family and community: A spatially-oriented approach to the impact of the Ravensthorpe nickel mine closure in remote Australia.Journal of Industrial Relations,54(1), 22-40. McIntosh, A. 2012. Thinking space: Ten truths about Australia's rush to mine and the mining workforce.Australian Geographer,43(4), 331-337. Papastergiadis, N., 2013.The turbulence of migration: globalization, deterritorialization and hybridity. John Wiley Sons. QIU, B., YE, L. F., SUN, S. Q. 2012. An Empirical Study on the Impact of GPNs on China's Manufacturing Industries' Upgrading in Global Value ChainsAn Analysis from the Perspective of ESI [J].China Industrial Economics,1, 008. Reeson, A. F., Measham, T. G., Hosking, K. 2012. Mining activity, income inequality and gender in regional Australia.Australian Journal of Agricultural and Resource Economics,56(2), 302-313. Ridoutt, B. G., Page, G., Opie, K., Huang, J., Bellotti, W. 2014. Carbon, water and land use footprints of beef cattle production systems in southern Australia.Journal of Cleaner Production,73, 24-30. Schandl, H., West, J. 2012. Material flows and material productivity in China, Australia, and Japan.Journal of Industrial Ecology,16(3), 352-364. Simas, M. S., Golsteijn, L., Huijbregts, M. A., Wood, R., Hertwich, E. G. 2014. The Bad Labor footprint: quantifying the social impacts of globalization.Sustainability,6(11), 7514-7540.