It is also exploring the idea of economic growth which is the increase in the amount of goods and services produced by an economy. These three subtopics will be deconstructed to see how globalization affects Canadian business. The term globalization is constantly being discussed on social networks and media. It is all around us people higher up the totem pole are happy about this, but the rest of the people in our advancing world are somewhat trapped because of it. But what about Canada and Canadian businesses?
The entry of Wal-Mart and Home Depot stimulated the industry to make it more dynamic and competitive, and by consequence making CT look for more innovative ways to increase their sales. Additionally, these two companies brought their social marketing programs to Canada (which CT lacked) in the pursuit to become a community-oriented corporation even though Canada was not the country of origin of these companies. By these facts, CT is positioned solidly in their market and in search of developing a social marketing program to become more socially responsible. 2. What is the purpose of a social marketing program?
Topic: Are Canadian marketers and businesses competitive internationally, and prepared to deal with the challenges of the global marketplace? Identify magazine or academic articles, books, and other sources that argue the “yes” and “no” sides and develop your own position on the matter. Although Canadian companies are now facing big challenges in the international marketplace from strong competitors like USA, UK, China, and India; Canadian firms still have many competitive advantages if they respond quickly to this challenge by designing their operations to deliver a suite of capabilities as well as increasing agility, mass customization capacity, capitalizing on market niches and innovation. (State of Advanced Manufacturing: A Canadian Perspective Emerging Trends in Advanced Manufacturing, 2012) In general, Canadian manufactures are trying to increase their agility responding the changes in customers’ demand and profitability by adapting production volumes, varying their production mixes, and adjusting the location of certain production within their production footprint. By expand mass customization capabilities; companies can achieve a competitive advantage by delivering unique product according to customers’ wants and needs while still maintaining the cost efficiency of large-scale production.
By outsourcing in other countries, Canada builds more trade relationships which has a positive impact on the Canadian economy, it also increases the flow of money within our economy. By outsourcing, Canada saves more money than if products were manufactured in Canada. Employee’s in Canada are payed more than employee’s outside of the country because of labour laws and regulations. Therefore, we save money due to cheap labour and products being less expensive. The last positive point about outsourcing is being exposed to a new culture.
With a strong Canadian economy and a higher influx of business travelers, particularly from the US, flight demands will continue to rise. The business expansions from the US into the Canadian market place (retail and finance at the forefront) make it particularly attractive for frequent business travel with such close geographic proximity. These factors combined with lower governmental regulations then other places in the world make it attractive for new entrants to take the risk of launching into the pool. If a new entrant is able to break into the market offering lower rates then it could pose a significant threat to an already competitive pool. Porter airlines can be an example of how a niche small airline can come into a competitive market and steal market share from a dominant national like Air Canada.
It was only until 1971 that Prime Minister Pierre Trudeau decided to modify the bicultural assimilation model, previously used by the Royal Commission, to better suit the growing variety of cultures in Canada. This subsequently led to the establishment of multiculturalism as official government policy, and 17 years later to the institutionalisation of the Canadian Multiculturalism Act. The enactment of this policy would forever change the face of Canada’s identity and culture. This paper will also touch upon the implications of multiculturalism on the economy and how it allowed Canada to attract skilled and intelligent people from all over the world, literally making it a “global talent magnet”. Another topic that will be discussed is how our government’s multiculturalism policy has revolutionized the idea of human rights thus ameliorating the quality of life in Canada.
If education was free in Canada the contributions that go to paying for schooling could be invested in our economy, therefore increasing economic growth. Also higher education creates a system of discrimination against rich or poor income families. Immigrants often come into Canada to seek a better life. Most of these people want to go to school but simply cannot afford it. If one cannot afford an education they are forced to go into workforce, making minimum wages rather than receiving an education that could help make our economy prosperous.
Assignment: #4 Case #10 Nucor Corporation BUS 599 Discuss the trends in the steel industry and how it may impact Nucor’s strategy. After the 2008 financial and economic crisis, the world steel industry’s recovery has been uneven, but it is recovering faster than expected. The global steel production declined from 129 million metric tons (mmt) in March 2011 to 127 million metric tons in April 2011. However, production increased 5 percent from April 2010. As of the April 2011 first quarter reporting, the United States has produced 28.3 mmt, which is up 6.8% from the same period last year [ (Leybovich, 2011) ].
Audi's global sales rose 8.3% to 1.58 million vehicles in 2013 however despite the increase in revenue, the net profit fell 7.7% ($5.57billion) and the operating profit margin fell to 10.1% from 11% the previous year. Based on this one could assume Audi is experiencing diseconomy of scale. But when you dig deeper into their situation the reasons for a lower net profit is not because of a “per-unit” cost of production which would truly mean they are operating as a diseconomies of scale. The true reasons appear to be because of their expansion investments. As per the article Audi “warned that profit would be hit by investment in new models and tougher climate regulation”.
In Canada, pharmaceuticals account for the second source of health care costs. Pharmaceuticals are a high growth sector in Canada with domestic production valued at almost $12 billion in 2009 and growing 8.5 percent annually since 2000 (Canada's Pharmaceutical Sector, 2011). Generic pharmaceuticals are determined by Health Canada to be bio-equivalent to patented pharmaceuticals and their primary role is to serve as competition to brand-name drugs. The generic drug industry tends to be very complex and misunderstood. Generic drugs are tested in Canada and proven to have the same clinical effects of those branded products that are sold under patents.