This is an individual essay assignment. You are required to write a research paper for this assignment. The topic for you to work on is how Canadian businesses need to adjust to and utilize an ever-changingglobal business environment and to excel in this environment.
Your paper should include four major discussions:
- Part 1: From both the institution-based view and the resource-based view, conduct an analysis of the present global business environment and its impact on Canadian businesses, including both opportunities and challenges that are offered by such an environment.
- Part 2: Use examples to explain how Canadian businesses have reacted to the above environment. How do you evaluate their responses?
- Part 3: Drawn from successful business cases worldwide, what acquiring tools and strategies should be adopted by Canadian businesses in terms of their global entry or expansion?
- Part 4: What recommendations do you want to make for Canadian businesses to build functional excellence on a global basis? The above four discussions are required for your paper, but you are not limited to them only. You can add to this list and initiate other relevant discussions. You are NOT supposed to copy the above discussion topics, pasted them in your paper, and then answer them as questions. You NEED to create title and subtitles for your paper.
Global business environment
This paper will include information about the responses of the Canadian business on the global business environment. It will discuss about tools and satrapies of Canadian business for changing in global business environment in this paper. Many Canadian businesses are developed because of global business environment and few are got failure because of not proper response of the global business environment. It is also depend on the strategies of the business that how they survive and grow their business at worldwide level (Trade Commissioner Service, 2018).
Business is based on the operations of the organizations. It is also changes according to strategies of the organization for the growth of different things, such as productivity, reliability, services, and many more. Business is also a part in growing economy of the country. In this paper, institution-based and resource-based views will discuss, and it will discuss about the analysis of the present global business environment impacts on the Canadian business. It will include challenges and opportunism for Canadian business because of digitalization in the working environment (BDC, 2018).
Recommendation for the Canadian business will discuss in the later section of this paper. There are so many issues in the strategies of the Canadian business environment in perspective of global business environment. This paper includes details of Canadian business impact on the different things at country level as well as global business level.
Canada is having tenth largest economy of the world. Magna International organization is a global automobile supplier. They are best in their works and they supply parts to so many organizations, such as Tesla, General Motors, and Ford Motor Company. Canadian business is following the P3’s principle. It is private-public partnership. The Federal Conservative government initiates it. Numerous factors are affected the global environment of business, such as technology, demographic changes, population, and demand. Global business environment is affects form the different things of other countries. It is also based on the few things, which are political, economic, social, technological, legal, and environment.
Business is depending on many things, such as economy of the country, strategies of the business and tools used for business. It is also depending on the global business environment. PCL is a huge organization with 4,400 employee in the field of construction across Canada, US, and Australia (Murray , 2018).
Global business environment is having key role in all industries of the countries. It reflects production and selling capabilities of the organization. There are so many issues from the global business environment, such as political, economic, social and ecological issues. Changing environment of the global business affects different industries of the small business of the country. (Murray , 2018).
Innovations are supported by the government and it is affected form the political change so the government. There are so many countries, which are not having proper political relations at worldwide level. Sometimes different countries got huge losses because of less demand of the material and services of particular things (Budget, 2018). There are so many examples in the worldwide level. Few countries are starting their personal productivity for country level, such as china steel production impact on the global business environment. There are so many issues created in the global business because of political imbalance. Many industries are bases of the others business at world level, they supply selected things and they are specific for the productivity of that products. The entire world gets supply of those things from them. However, they affects world business environment. These businesses are making economic conditions better of many countries, such as they provide employment (Conceptdraw, 2018).
Urban population is also affecting the global environment of the business. As they requires more products for stabilization and facilities for daily life and many others things.it is good for global business. Steel manufacturing companies are having so many benefits from urban population. Social behavior is also make changes in the global business environment. It requires many things, such as oil, gas, automobile, and domestic appliances (Crane & Matten, 2016).
Technological changes are affecting the global business environment. Numerous industries are based on the innovations and advancement of the technologies. It is also depend on the obsolete technologies. Those technologies are maximizing the production in the industries at huge level (IC, 2018). Technologies are affected form all the sides of the business, such as health, social, employment, and environment. Technologies are base of an industry on this time. All the industries are using management information system for managing all the operations of the organization. There is a basic need of managing different works of the organization, such as payroll, human resources, and production (Chesbrough, 2010).
Legal environments are also affecting business of different industries. There are so many restriction and legal laws for the industries and their business. It is about employee’s safety and health at the industry. This is a big concern of the industries at the world level. It is also expected that all the industries fulfill all the legal conditions and policies in the favor of employees as well as organization.
Environment is one of the most concerns of the organizations and international agencies. Global warming is a big issue in front of all the industries. Industries are strictly following the policies for saving environments from the different parts of industries, such as global warming, natural resources. There are many organizations, which provide data about the environment and different issues related to the natural resources. There are so many things for moving their business workflow (Hoey, 2018).
Canadian business is required approval from government and it is having rule and regulations form global business environment. Many organizations follow code of conducts for their business process for growth of organization (Conceptdraw, 2018). Digitalization is changing so many things in the business of private and public sector industries. There are so many changes in the production, delivery system, and service because of technological changes. Canadian government is supporting this thing for growing their economy at global level. It is also good for industries that they grow with the help of technologies, which are they adopt for different operations. As an example, banks are adopting online banking with high cyber security (Hutt & Speh, 2012).
Canadian Government is changing in many things for enhancing their businesses at global level, such as relaxation in hard rules for stabilization of industries, Easy process for increasing business. Those changes are already leading to an impact because the Canadian authorities are figuring out the reality of global business environment (Guttman, 2018). It is the only manner to fulfillment of requirements of the business. It is used at the huge level in the medium and small industries and it provides feature a shared vision for the Canada. It is used for additionally benefiting of the specific pursuits for all the industries (Crane & Matten, 2016).
It is also beneficial to be talked about Canadian subculture and exchange. It has come below global scrutiny and the government has found out the significance of having an open marketplace. In addition, in this regard the Canadian authorities are likewise worried about the truth that what precisely the result would be with these changes of global commercial enterprise. In a message from the Minister of Canadian embassy, that worldwide change will move above on this competitive technology. It is miles very essential for Canada to maintain challenging from their strategies of business. In fact, the government’s financial action Plan of next year become build on the global trade approach of consulting with Canada’s non-public zone to discover new markets. It is also affected form their strengths, weakness and opportunities (Canadian Trade Commissioner Service, 2018).
In relation to exchange of business strategies of Canada towards global commercial enterprise, the Canadian government realizes the fact that it is miles very critical to have private sector have more competition. This is because of the truth that the private corporations accelerate trade and international business. It is also helpful in making sure sustainable monetary improvement. It affects the economy of the country. This sort of a set up similarly ensures that suppression of poverty within Canada and the sector takes this problem. The Canadian government is running to shift their traditional set up into emerging business process (Chesbrough, 2010). It makes certain changes that the non-public region consisting of large and medium organizations. They take active component in the development of dreams and they gain them. It is consequently far from the need of hour to develop new partnership and mobilize the Canadian economic system. Online business is more preferable in present era. Every organization is having their website for their business at world level (Faber, 2018).
However, there are sizable gaps within the industries because of the fact the private and public sectors are not in synchronization with other businesses. Moreover, it is also being realized that the Canada is buying and selling as of now faces several challenges. There are different reasons for these issues. It is not always giving same significance to all the sectors in the equal basis. Based on truth, it has been mentioned that the country is pretty restrained to their technique in phrases of buying and selling. Buying and selling is required different strategies for handling market. As an example, it offers a number of focuses to automobile and resource based totally enterprise, while ignoring many things in the market (Trevino & Nelson, 2016).
Canada additionally trades using large amount with America. It does not have appropriate import/ export with different countries. Similarly, it is affiliated to important organizations and it does no longer deliver probabilities to small agencies. Consequently, it is neither vague nor faulty to factor out that Canada in spite of getting an advanced personal region. It is not always having the ability to make use of their capacity nicely for growth of business. It does not have proper equipment and rules to inspire a symmetric private- public partnership in terms of exchange and international commercial enterprise ( Callaghan, 2018).
There are so many strategies for enhancing business. There had been numerous studies and conclusions of Canadian attitudes and technique to enhancing business at the worldwide level. It became located that there are several boundaries in Canadian attitudes in relation to global business environment. It is a basic thing to increase business of country in which makes relationship better from other countries for enhancing their business. Canadians also apprehend the significance of Asian countries with China and India emerging as superpowers ( Capri, 2017).
However, they nevertheless do not need to attention on Asia because of their lack of experience with Asian countries and misconception of the monetary improvement. It is taking their region for business. We are in a crucial situation in which maximum of the trading activities and international commercial enterprises are transferring their consciousness to the Asian markets (Business Women in International Trade, 2018). However, Canadians need to live with constrained of nations. Moreover, this works as one of the worst downfall of Canadian trading business as it indicates that the Canadians are pretty close to their technique (Weiss, 2014).
Few businesses are hold up with traditional strategies of trading. Further, there also are linguistic limitations to be located with Canadian business. They are no longer capable of discover the proper strategies for improvement of business at global level. As an example, Germany would love to talk business from their personal neighborhood representative rather than someone from down south. This is a same condition for all other countries ( Callaghan, 2018).
Those are a few guidelines in terms of global business and global change that could assist Canadian business keep for buying and selling. The first and the most being thing is that Canada should revise their antique rules and regulations for buying and selling businesses. It must use personal area, which include massive, medium and small businesses. It takes their assist in addressing the new markets and their potential. Canada ought to increase robust management that would support Canadian businesses inside the global markets. Every business is having risk because of financial conditions (Export Development Canada , 2018). Therefore, the alternate regulations of the Canadian government need to be aligned with exporters and manufacturers of private sectors. Moreover, Canada has to introduce worldwide legal guidelines and regulations in order to that it may compete with the world. Canada can make a new silicon valley, as they are increasing their businesses all over the world ( Herman, 2018).
It affects the buying and selling sector of Canadian business. It is an advice for Canadian business process of buying and selling enterprise is to have free trade negotiations. It is crucial to prioritize the get entry to the global markets. It is helpful for develop international trade with specific countries. The country should now negotiate with local, multilateral and bilateral agreements that cut down out the non- tariff and tariff limitations in the trading commercial enterprise. Canada is having a face in the global business according top 100 business companies of Canada ( Woodward, 2018).
Canada should negotiate market get entry to and trade in international markets with tax agreements and funding projection especially with Europe and Asia. Moreover, it has to also outline and virtually increase new strategies to improve their business process members. The next important recommendation for Canada is to reinforce their exchange policies by way of making sure the effectiveness of a degree. It will beneficial for the producers and exporters in Canada. The country should additionally enforce their Intellectual property rights protections and prohibit trading of counterfeit items. There are so many impacts on economy of Canada because of small business (Canada Revenue Agency, 2018).
It is concluded form the last parts of this paper that, business is affected from different regional and global environment reasons. They are also a part of their country as well as they are also affect global environment. In this paper challenges and opportunities was discussed in previous parts of this paper. It is also concluded that, Canadian business is also affecting from global business environment. In this paper tools and strategies of business was discussed with the help of examples. There are so many facts for successful business and one of the reasons is global business environment.
Many industries are growing because of global business environment, such as steel industries. This paper also includes recommendations for Canadian business improvement. It is also conclude about the analysis of the conidian business and global perspective. There are many things discussed about the Canadian business and their dependencies. Canadian business was required a few things to manage their industries, such as political issues, social environment, economy, and technical changes.
It is concluded about the utilization of the different satrapies by the Canadian business and they made dramatically changes in the global business environment. They are excellent in the business field at world level.
Finally, it is concluded that Canadian business is growing based on global requirements for many things. They build their functional excellence in the field of international agencies. They grow day by day and make an image in front of the world.
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