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Legal Aspects of International Business and Enterprise

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Legal Aspects of International Business and Enterprise

 Introduction:

International business and enterprises are bound by some legal regulations in order to overcome various obstacles regarding legal issues. To understand the legal aspects of international business and enterprises, well known fashion brand Zara is taken.

The essay would briefly discuss how Zara as a multinational company in Australia is affected by the rules and regulations of Australia and impacts on their business operation. The essay will also highlight the treaties and agreements between Australia and other countries affects the multinational companies (Zara) and how it affects on goods and services of multinational companies which is correlated with business houses ad enterprises development and growth.

1. Identification of a multinational companies operating in Australia and brief description of the selective organization:

Australia always leads in the world Economy as a booming business destination. Australia is mainly focusing on growing numbers of multinational companies. Reasons behind establishment of numerous multinational companies are contribution in foreign direct investment, opportunities for job seekers; create brands value and overall developing reputation for Australia.

According to Buckley et al. (2016), Zara in a way impacts the economy of Australia. Zara’s contribution in fashion industry in Australia is very significant as fashion conscious consumers in Australia are purchasing products of Zara and it is positively affecting the economy of the country. On the other hand, Görg et al. (2016) pointed out a contrasting  view on how Zara’s  gaining revenue is negatively impact on the local brands as eye-catching attractive discounts and sales  are drawing customers towards Zara and local brands are losing their business.  (Zara.com, 2017)

The industry Zara operates in: This 43 years aged Spanish clothing brand was founded in 24th of May in 1974. Zara provides clothes and fashion accessories for both men and women and children also in all the 2169 stores in worldwide.

Their clothing line is always heavily influenced by the recent fashion trends. Buckley et al. (2016) identified that Zara approximately manufacture 450 million products in a year. This fashion brand mainly produces clothes in Spain and delivers the products in various branches in Australia.

Their skilled designer makes their products less than in 48 hours and they launch their new products very frequently. Görg et al. (2016) stated that Zara’s manufacture policy is totally different from other fashion brands. They have a policy of not investing capitals in promotions and advertisements.

Zara in Australia is gaining success in terms of revenue returns and their successful operating way of business. Görg et al. (2016) pointed out some of the factors like fast change of clothing line and consumer based trend setter, Exclusive clothing lines, focus on the production quality are the inputs of successful business operation. McGraw et al. (2014) pointed out major drawbacks are high price of the product, poor marketing strategies.

Global brand Zara is overtaking the business and therefore many Australian brands are losing their business  

Number of staffs in Australian Zara:  At present, Zara has more than 140 employees per store in Australia.

Number of staffs in Global Zara:  Currently, Zara operated in 93 countries and approximately 2,200 stores are presented worldwide. At present, 10,000 employees are serving in Zara.

Location of the global headquarters: Headquarter of Zara is located in Arteixo, Spain. Zara’s main operation which is manufacturing clothes and fashion accessories are operated in Spain only (Zara.com, 2017).

2. Identification of regulatory   framework that effects on the multinational company  

Progressive liberations of the foreign ownership have been restricted since 1986 and that had fallen due to an overturning of the basic features of regulatory frameworks in Australia. As commented by Shams and Huisman (2016, p.962), different multinational organisations have used this Australian FDI framework opportunistically than arguing for their benefits towards expansion or publicity. Regulatory frameworks include the anti-dumping commission framework that states while exporting in Australia a multinational organisation need to serve their service at below price from their average rate. Therefore Zara can reduce the price of their garments while expanding their service in Australian supermarkets (Zara.com, 2017). Henceforth, as per this framework, Zara has faced financial loss due to import their products at low price. Apart from that, this framework helps this organisation to reduce unfair competencies due to lower price and support to increase market share. As mentioned by Talab (2017, p.923), a structured framework in Australia can help a foreign organisation to understand their domestic market discipline and international subordinate debt of Australian banks.   Henceforth as per this framework, Zara can follow this framework for examining their long-run relationship as well as the short-run dynamic between accounting measures in Australian banks and possible risks within their firm (as opined by Feuerstein and Herrigel, 2017, p. l2).

However, as per the consumer protection framework in Australia Zara can identify rights as well as obligations of consumers by accessing their information, advice and feedbacks. As asserted by Li and Gammelgaard  (2014, p.158), this framework can help Zara to identify their most favourable products such as Olivia Palermo's Relaxed Suiting or The Coat for their Australian customers. Apart from that the Trade sanctions framework in Australia will provide this fashion industry with few limitations on their products during expanding their garments in different locations of Australian and Oceania. As opined by Jacobs (2017, p.591), according to the international prudential framework in Australia, Zara can determine their macroprudential and microprudential objectives while expanding their products in Australian supermarkets. As mentioned by Arel-Bundock (2017, p.371), by this framework Zara has faced opportunities to meet their objectives in Australia. Nonetheless, it has been reported that this framework can support this multinational industry to identify their model of risks such as output or GDP costs. In addition according to the ACCCS's  regulation of the corporate and market regulation in Australia Zara need to adopt the voluntary code of conduct to minimize competencies and meet better scopes to maintain their brand recognition (as influenced by Hong et al. 2015, p.59). 

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