Ideally your report will Contain:
Identification of the two countries selected for market entry (one European and one Asian)
For each of the two countries provide a detailed analysis of
Development of each country's trade and business policy
An assessment of the potential Clangers, risks and opportunities In the current or short term policies leach country.
Brief introduction of Atlassian
Mike Cannon-Brookes and Scott Farquhar founded Atlassian in 2002 as a software developer company. These guys met each other at the University of New South Wales in Sydney at the time of their studies. Both of them have taken the company for several years and this start-up was started with a $10,000 credit card debt. Atlassian is engaged in developing products for software developers, content management as well as for project managers. Organization earned respect in the industry when they launched an effective issue tracking application i.e. Jira in 2002. After that, organization released Confluence in 2004 which is an effective team collaboration platform through which users could easily accomplish their projects. Along with this platform is also essential in content creation, handling media assets and for sharing documents. With regards to the introduction of these products, organization attains their desired goals and objectives and both of them were names as the Ernst & Young’s Entrepreneurs of the Year for Australia in 2006. In 2014, Atlassian reported $215 million revenue which was approximately $144 million up from 2013. Now Australian market is being saturated, thus, organization has moved towards international expansion and for the same, Indian and Ireland markets have been chosen by reviewing the scope of IT industry (Mishra & Kumar, 2018).
Identification of two countries
As organizational management has considered European and Asian markets as the best markets for the organizational expansion and amongst these two regions, India from Asian region and Ireland from European region has been selected. India has been chosen because of rapid and consistent growth. India is
one of the fastest growing countries across the globe and with regards to this; various multinational corporations have shown their interest in setting up their business through which FDIs have been increased. Apart from this, Indian government is also encouraging FDIs and for the same, they have made favourable policies so that multinational corporations could easily enter into Indian market. Apart from India, organizational management has also chosen Irish market because there is much scope for the software companies as software industry of Ireland is very vast (Bhattacharyya, Jha & Fernandes, 2015). Accenture is one of the biggest companies of Irish market engaged in providing professional and technological services. Thus, scope for setting up the business in Irish market is high because except Accenture, there are no relevant competitors. This will help the organization to invent new products and services as per the target audiences’ demands and wants in order to develop an effective brand image against Accenture (Kelly & O’Malley, 2016).
Macro-environmental and Geo-political forces in India
Political factor have great influence on the regulation of technological markets in India. Since the growth rate of the market has been paced up with the introduction of globalisation, foreign investors have shown their interest. This has led the company to get emerged as the fast growing economy in the world. Political rules, regulations and policies have helped the country to grow and move towards development. Indian political conditions were not stable in the past but later on political parties have analysed the market conditions and realised that political stability is the major reason for the performance and growth of capital market in India (Millar, Gray, Rooney & Crosse, 2018).
Apart from Political factors, other macro environmental factors also have a great influence market conditions and those factors have strong relationship with the capital markets. GDP of nation has been increased which indicates tremendous economic growth through which international companies have shown up their interest to invest as well as to establish their business in Indian market. Technological requirements are continuously increasing, thus, scope for Atlassian Corporation Plc is much high in order to set up their business in the Indian market (Bilgili, Kedia & Bilgili, 2016).
Macro-environmental and Geo-political forces in Ireland
Ireland is officially known as the Republic of Ireland and it is a sovereign state in Europe which occupies almost 5/6th of the island of Ireland. In terms of politics, Ireland is divided into two parts i.e. Republic of Ireland and Northern Ireland. With the passing time, education level, purchasing power and other related factors have also been increased. With regards to these changes, demand in all sectors and industries have been increased. This has encouraged foreign investors towards Ireland and this has also led the management of Atlassian Corporation Plc to choose Ireland as the favourable option to expand their business (Gillespie & Riddle, 2015).
Apart from these changes, economic condition are also favourable for the international business corporations, thus, Atlassian have huge scope of setting up their business in the target market along with the objective of gaining desired goals and objectives. Scope for technology improvement in Irish market is huge because with the help of advance technology, Ireland would be able to uplift its performance (Gupta & Batra, 2016). Although, Accenture is already present in the Irish market and it is the only company who provide professional as well as technological services in the marketplace. In relation with this, Atlassian have a big opportunity to set up their business in Irish market due to huge demand of technology and competing with Accenture, one of the biggest rivals will help the organization to generate innovative product options through which appropriate and effective position could be set up in the target market (Agnihotri & Bhattacharya, 2015).
Trade and business policies of India
India’s foreign trade policy is known as Export Import Policy (EXIM) and primary motive of this policy is to aim at developing export potential, encouraging foreign trade, and enhancing export performance. Apart from this, this policy is also engaged in order to accelerate the low level of economic activities to high level of economic activities for moulding it as per the global market conditions through which maximum benefits could be derived (De Castro, Khavul & Bruton, 2014).
Apart from this, foreign trade policy of India focuses on every sector through which appropriate and relevant actions could be taken so that appropriate and relevant outcomes could be attained. With regards to the activities of Atlassian Corporation, foreign trade policy of India is favourable, thus, it could be summarised that the organization would be able to expand its business in the Indian market along with attaining its desired goals and objectives. Along with these advantages, scope of technology is increasing rapidly through which Atlassian would easily be able to fulfil the demand in term of technology in the Indian market and another factor which influences organization to choose Indian market over Irish market is the population. India stands on the second position in terms of highest population across the globe, thus, it is a huge consumer market for every industry (Langseth, O'Dwyer & Arpa, 2016). Stable economic and political conditions of Indian market are other favourable factors for Atlassian to enhance their business in the target market and it will also help the organization build its effective image and it might help the organization to gain leading position in the technological field.
Trade and business policies of Ireland
The Trade Unit of the Department held the responsibility for identification, formulation and development of international trade policies for Ireland. It helps in promoting Ireland’s business interest at European Union trade policy regulations. It also actively contributes their efforts at the World Trade Organization (WTO). With regards to this, Irish policies in terms of trade and business are favourable enough for the international investors. Atlassian Corporation Plc could easily set up its business in Irish market as there are huge opportunities in the technological industry (Vaiman, Sparrow, Schuler & Collings, 2018).
Atlassian has enhanced its goodwill in the Australian market through a set of effective applications and products like Jira (an issue tracking application), confluence (a platform through for team collaboration activities), etc. These applications could also be introduced in the Irish market in relevance with the setting up an effective position in the target market. In order to gain positive outcomes with the objective of setting up business in the Irish market, organization needs to analyse its target audience’s demands and wants. Along with this, organization will also require to analyse its primary rival’s i.e. Accenture’s strategies and the products offered in the market. This will help the organization to make their products and services unique and distinct from its competitors. Along with this, it will also help the organization to establish its effective position in the target market (Becherer & Helms, 2016). Thus, it could be summarised that trade and business policies of Irish market are favourable enough for Atlassian to set up their business.
Assessment of potential dangers, risks and opportunities
Currently, India is one of the fastest growing economies across the globe and their trade and business policies are also favouring international businesses to set up their business in their market. This has helped India to reduce the unemployment rate along with enhancing the purchasing power of an individual (Sarma & Choudhury, 2018).
Irish market is another big platform for international business organizations to expand their business. In relevance with this, foreign investors have earned attractive return over their investments, thus, Atlassian would also be able to enhance its profitability along with attaining its desired goals and objectives (Dukelow & Considine, 2017).
Intense competition (TCS, Infosys, etc.)
Presence of one of the largest IT company (Accenture)
Involvement of UK government
Cybersecurity e.g.: Ransomware
Cybersecurity e.g.: Ransomware
Fastest growing developing economy and need for IT in business automation
The initiative of the European Union to get back on its feet by bringing significant improvements in IT infrastructure.
Recommendations and Conclusion
With regards to the above evaluation, it can be summarised that Indian market will be the perfect option for Atlassian in order to gain desired goals and objectives. Indian market has various opportunities as its name is included in the fastest growing nations worldwide. Apart from this, opportunities for enhancement in technology are of the significant need for the Indian market. Various industries are still using traditional approaches for executing their functionalities and with regards to this; Atlassian would successfully be able to set up its effective position in the Indian market. This will help the organization to expand its business along with gaining desired goals and objectives. In relation to this, it is recommended to the organization to choose joint venture in order to enter into Indian market. This market entry strategy will require Atlassian to find one company engaged in similar type of activities in Indian market so that market conditions, scope of the market and target audience’s demands and wants could be analysed as well as fulfilled (Amin, 2017).
Discussions of this report concluded that Indian market is moving towards development at fast speed and in relation with this, they will require technology at every end, thus, Atlassian has chosen Indian market for their business expansion. The company is already doing well in Australian market but as the Australian market is being saturated, organization has decided to expand its business in the international market and they have found Indian market as the most appropriate option. In the initial period, organizational management had selected two options i.e. Ireland and India but after analysis of external environment, it has been found that Indian market will be the most appropriate option for the organization to expand its business.
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