Global Business Environment

Global Business Environment

How effectively do Canadian businesses and government engage together to promote a shared vision and agenda in the global business environment? Do Canadians strike an effective balance between private sector pursuit of global business and public sector support and enablement?

Canadian businesses and government can join hands and work towards achieving a shared vision and plan in the international business avenue by developing a vigorous ethnic business sector. The Canadian government practices a blend of economic stimulations, Canadian content demands, tax measures, actions on foreign assets, and well-informed property tools. (Canadian Culture in a Global World). By so doing, the Canadian government motivates people to invest in Canada and to always maintain a favourable business environment which allows for expansion over time. At the same time, the Canadian government enforces cultural guidelines to acclimatize with changes in the key players in the business sector.

The widespread use of technology in the present era is a great boost. It makes it necessary to undertake free trade as well as include cultural policies that make it possible for the Canadians to learn more about different cultures. Most people in Canada are well educated. A strong Canadian economy coupled with the educated lot is a great motivation factor that encourages businesses to willingly set up their companies in Canada. The government is always committed to holding bilateral talks with interested trade partners in order to give them an understanding of the business industry in the country. This is critical information that any potential investor will have to know before committing to actualize the idea of having a business in Canada (Foreign Affairs, Trade and Development Canada). Environmental pollution menace in most places will scare a new business from being established. With such knowledge in mind, Canada is always on high alert to ensure no cases of environmental pollution are witnesses, since it is a potential barrier to investors.

It is notable that the Canadian government is showing efforts to balance between the private and public sector by ensuring equality and equity in the manner of engaging human resources and their expertise. An example is “The Redesigning Development Finance Initiative (RDFI)” whose initiative can be termed as a move to make avenues which make it possible to incorporate the input of both the public and private sectors. This will lead to better focus towards achieving business targets as well as foster the recognition of worldwide development assets and attain sustainable outcomes. (Private Sector as Partners in Development)

How well integrated and complementary are the trade and international business resources offered by the Canadian Government, relative to the needs of the private sector? What are the gaps, if any, that are perceived to exist?

There is usually a challenge in developing countries as they tend to overlook the input of the private sector towards economic development. This is usually wrong since a stable private sector can be a great boost to the economy through job creation and other income generation activities. It is therefore prudent to engage the private sector and encourage more investors into the area by giving them the necessary support and tools that can be a great inspiration to potential entrepreneurs.

In light of Canada, there is willingness to adopt the necessary schemes aimed at motivating private sector investment. Canada goes a step further to assist the developing countries by supporting them to grow their markets more sustainably, achieve a better use of their natural resources by converting them into end products as well as promising markets for the products.

The Government of Canada is also helping the developing countries to create conducive environments for a robust and maintainable private sector that will lead to sustainable economic growth within a short span of time. Laying of financial foundations, developing productions and supporting people are amongst the strategies that can lead to poverty reduction via private-sector-led businesses. The Government is also keen to note the manner in which it can be directly involved in investment decisions that are later actualized into real projects and businesses. Provision of subsidies and loans are such initiatives that are welcome in a bid to boost the confidence of the investors. Above all, there is provision of government trainings on what is the expected code of conduct for businesses as well as their corporate social responsibility in order to have a healthy and all round business environment.

What does a review of the current press reveal about the attitudes of Canadians in terms of global business and international trade?

The press, both in print and electronic media, portray Canada as having a positive link with the international business world. An example is Global Mail that talks of the determination by Canada to have economic international policies that assist in raising business opportunities that will see their businesses competing globally (The Globe and Mail). Within this strategy is a move by Canada to lower trade barriers for those who are not Canadian natives as well as tapping into the skills of such people. A close look at most Canadian media outlets with regard to business indicate that Canada’s trade deals help companies to widen their scope further to reach the Asia-Pacific area. The United States market is an important player here. This is an avenue that has seen the creation of trade deals outside Canada which is a major job creation stride for both the locals and those in the US. In essence, Canadian entrepreneurs whose aim is to get better trading facilities, as well as more business skills will find better avenues to achieve such targets through a more-open trading atmosphere.

What recommendations might come out of a Summit involving the major stakeholders involved in Canada’s pursuit of global business and international trade? Develop 3-5 recommendations and illustrate how they might apply in the context of trade and global business, particularly with respect to the rapidly expanding service sector.

There are a number of recommendations that can help drive the move to have sustainable international trade in Canada. Global business and international trade is arguably a noble course to pursue as it opens up avenues to negotiate for better business deals in different parts of the world. One of the advantages is a high possibility of getting wider market shares market shares, reduced costs of operation and increased competitiveness as compared to other businesses. As one of the recommendations, a business intending to go global must conduct feasibility studies to determine the economic viability of any venture before taking it to markets abroad. It is common knowledge that the manner in which a local consumer will perceive the products is different from how an international consumer will view the same product. It is therefore crucial to know various background factors for the other country before establishing business with the locals in that country. Their way of life, the different culture, and religion are all crucial factors to consider.

Another recommendation is to get agents who will act as ambassadors on the ground. This is a crucial team that will periodically give updates on how the ground is. They are the ones that will be tasked with the role of getting customers for the business by ensuring the best positive image is relayed to them on a regular basis. A lot of commitment is required in such an input and hence requires an enduring heart. The last recommendation is to have every product’s use explained to them prior to its introduction so as to get the general feeling of the potential customers. This is to ensure there is no rebellion when the actual product lands and is ready for the customers to buy.

References

Canada in the world. A global networks strategy. Retrieved from https://www.liberal.ca/wp-content/uploads/2011/08/CANADA-IN-THE-WORLD.pdf

Canadian Culture in a Global World (2015). New Strategies for Culture and Trade Canadian Culture in a Global World. The Cultural Industries Sectoral Advisory Group on International Trade. Retrieved from http://www.international.gc.ca/trade-agreements-accords-commerciaux/topics-domaines/ip-pi/canculture.aspx?lang=en

Choe, Y. (2001). Does going global mean Americanization? The Korea Herald.

Geddes, J. (1999, June 07). Magazine deal between Canada, US. Retrieved from http://www.thecanadianencyclopedia.com/articles/macleans/magazine-deal-between-canada-us

Rifkin, J. (2001). It’s war-commerce vs. culture. Newsday.

Rothkopf, D. (1997). In praise of cultural imperialism? Effects of globalization on culture. Foreign Policy.

US Census. (2013). Trade in goods with China. Retrieved from http://www.census.gov/foreign-trade/balance/c5700.html