Some Industrial Structural Differences (like oligopolies in Australia)

Australian industries like banking, resources, ICT, retailing and insurance are dominated by oligopolies.

This anti-competitive market structure can fuel complacency and arrogance as found in the Hayne Royal Commission into the banking industry.

Other Australian examples include

- in the resource sector, BHP and Rio Tinto have been excellent in worldwide mining exploration and development. On the other hand, they have made some problematic takeovers, eg BHP's takeover of South African Billiton and Rio Tinto's takeover of Alcan.

- in the ICT industry, Telstra, who had a dominant position in all its Australian markets, has been slow to adjust to the new environment like the impact of the NBN and a new player in mobiles, TPG.

"...Telstra made the mistake of thinking its massive cash flows and industry leading capital strength would provide protection against emerging threats..."

Tony Boyd 2018c

- the Australian retail giants, like Myers, David Jones, etc, are under threat by online retailers like Amazon.

On the other hand, some success stories include BlueScope (a spin-off from BHP in the steel production business) and CSL (a spin-off from the Federal government in the blood products industry), Resmed (sleep health industry), Cochlear (hearing industry) who have successfully penetrated international markets.

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