New book illustrates the value of regional business

CQUniversity academics have launched a new book that highlights the value that regional businesses bring in a changing global economy.

Across 12 case studies' the book demonstrates how regional businesses contribute to the national economy.

Titled Regional Businesses in a Changing Global Economy' co-editor and CQUniversity Professor in International Business and Strategy' Quamrul Alam' said the case studies in the book would provide readers with a better understanding of the processes of industrial localisation.

"The examples of how innovative regional businesses have used innovative practices' local resource leverage' social and entrepreneurial skills and knowledge of international markets to develop and expand their businesses will provide insights into how regional businesses can achieve growth and secure jobs in an innovative and sustained manner'" Dr Alam explained.

"In a highly globalised trade and investment environment' businesses in regional areas must learn to take advantage of the benefits that stem from their geographical location'" he said.

"Through the case studies' the book explains the immense value that regional businesses bring to local communicates and to Australia as a whole."

Ten CQUniversity academics contributed as authors' including Dr Robert Grose (co-editor) Associate Professor Olav Muurlink' Associate Professor Malcolm Johnston' Associate Professor Linda Colley' Dr Elena Konovalov' Dr Sardana Islam Khan' Dr Tasadduq Imam' Ms Rumana Parveen' Associate Professor Michael Segon and Dr Upamali Amarakoon.

The case studies in the book are diverse' many analysing the impacts of the COVID-19 pandemic on businesses in various sectors of Australia.

One of the case studies looks at Bundaberg Brewed Drinks' a family-owned business whose Bundaberg Ginger Beer is sold in most national supermarkets in Australia.

"Another case study we did was on Australia Post and the strategic shifts that the company introduced in order to stay competitive in the postal industry during COVID'" Dr Alam said.

Dr Alam said that about 67 per cent of the value of Australia's exports came from regional' rural and remote areas.

"Australian regional businesses continue to face the challenge of declining terms of trade in agriculture' yet remain internationally competitive through efficiencies and productivity growth'" he said.

"Cases in the book demonstrate the innovative business practices and the resilience of regional businesses. The geographical location of Australia' business and management best practices' knowledge of local climate' and supply chain advantages' and social capital have been used by regional businesses to sustain their competitive position.

"The COVID-19 pandemic' the disruption in the global business value chain' and the emerging trade conflict in the region have created a new business landscape where regional businesses may play a significant role in the Australian economy."