Canadian Business Environment
Canada has a generally favorable climate for doing business due to the lack of state overregulation and the business-friendly taxation system. The country’s laws and political climate are conducive to attracting investment. Federal and local governments interact effectively and within the framework of the law. This paper aims to provide an overview of the Canadian business environment, economic system, and government role in conducting business, compared to Sweden.
Canada has a parliamentary democracy political system successfully applied at the federal and provincial levels. Commercial and public law is ruled by the civil court system, which is more efficient than the US justice system, as there are many mechanisms to encourage prompt resolution of disputes. Canada’s laws are designed to make it easier to do business and create a secure environment for business operations in Quebec and the rest of the country.
At this stage of the country’s economic and political development, government intervention is rare. Canada’s laws protect consumers, investors, workers, inventors, and the environment. Federal and provincial governments operate under a simplified public-private partnership when providing services (Beaulieu‐Guay et al., 2020). Today, Canada has lifted foreign investment restrictions and liberalized the laws for doing business through free trade agreements. The taxation system has been improved by deregulating the transport, energy, communications, and financial services sectors. Much of government activity is tailored for business interests and market forces.
The banking and financial sectors ensured sustainability and allowed the country to become a leader in overcoming the global economic climate. Many high-tech companies consider Canada a reasonable choice. The construction of Microsoft’s headquarters in Toronto was completed in 2020. The company will invest $ 570 million in the country over three years, including building an artificial intelligence laboratory in Montreal. Canada has talent in artificial intelligence and innovation, and the country’s technology sector is booming. Over the past five years, Toronto has been a high-tech job creation leader among cities in Canada and the United States, overtaking even Silicon Valley.
Thus, Canada has an encouraging environment for investment and business. The country’s legal and regulatory environment is no less favorable than in Sweden. In the case of rules for starting a business, paying taxes, labor markets, and obtaining loans, Canada provides more favorable conditions, given the relatively high tax rate for foreign companies in Sweden. Therefore, it seems reasonable to decide to buy a wind turbine manufacturing company in Canada.
Opening a Vegan Food Truck Business
Owning a food truck business in Canada can be a profitable and successful venture. Since many cities do not have an adequate supply of hot meals, such business is socially beneficial and can quickly become sustainable (Weissman et al., 2020). It is noteworthy that the Migration Service of Canada encourages immigrants to open this type of business, as this is the easiest and most effective way to provide a stable income. This paper aims to present an elevator speech that addresses the issues related to opening a food truck business in Canada.
Food ethics is closely related to the government and health care organizations’ concern and deserves particular attention. Since the excessive consumption of fatty, sweet, and salty foods is harmful, our company will offer healthier foods. Our menu will only contain organic and vegan dishes. We intend to work with private suppliers who manufacture organic products. Our company will promote a healthy lifestyle by offering delicious and nutritious food. In particular, we want to use whole grain bread and vegetables grown without pesticides and other dangerous substances. Finally, our main task will be to create a nutritionally balanced menu; we also intend to list the number of calories in each meal.
Since our restaurant is vegan, the dishes’ composition will include soy meat, which will not differ from usual in taste characteristics. We will also introduce a large selection of natural juices and hot fruit drinks to the menu to provide alternative sweet beverages. Since a healthy diet will allow our customers to feel full throughout the day and not experience the anxiety associated with consuming large amounts of sugar, we expect our business to be successful as we hope to attract many loyal customers.
Thus, in light of the above, we hope to get the funding for our business. We intend to register a partnership; together with my partner and an old friend, we came up with a business idea, conducted a market analysis, and developed a quality business plan, including obtaining licenses and registrations, establishing source suppliers, and choosing an insurance plan. In our case, the partnership will be a better choice than the sole proprietorship since we want to have more chances of raising capital through debt or equity bank financing. Simultaneously, a partnership implies simple tax reporting and provides the benefits of shared risk and joint management. Since my partner and I already have experience making collective decisions, we hope to avoid conflicts associated with shared responsibility for the business.
Brief for Seafood Treats Restructuring
As the new CEO of Seafood Treats, I have to do whatever I can to make the company flourish. Our family business has been successfully operating since 1974, as we have always been guided by the principles of transparency, respect for customers, compliance with legislation and production standards, and produced a quality product that was in great demand. Unfortunately, in the past few years, the market situation has changed with new players who have made us serious competition. Therefore, I intend to take several steps to stay ahead of competitors and create a competitive advantage for our company.
Employees have always been our main asset, and we are grateful to everyone for their work and concern for the future fate of Seafood Treats. Therefore, I hope that our team will meet innovations openly and participate in the processes associated with expanding our business. Today Seafood Treats employs 180 experienced professionals who have helped the company to exist for such a long time. However, since our competitors entering the market intend to reduce prices using the increased production, I believe we need to expand staff and production (Anderson & Habner, 2020). We are currently negotiating the purchase of new equipment and the construction of a pavilion for its installation. We hope to get a loan from the bank, as we have presented a good business plan, and we are confident that expanding our staff and increasing production capacity will allow us to cope with the competition. We also hope to start importing products into the continental US since lower prices will lead to a projected increase in demand.
I hope stakeholders will support my decision and want to present the upcoming changes in more detail. First, we need middle managers who are familiar with the company’s production processes and strategic goals. Therefore, we will hold a competition and select four middle managers who will plan, lead, and control the production. After determining the winners of the competition, we will conduct training for them. We will also conduct training sessions related to working on new equipment. Next, we will need two new employees responsible for delivering products to existing customers and two managers who will be responsible for entering new markets. Top management will be carried out by the CEO and the board of directors. I propose that the provincial government, which owns 15% of the company shares, submit two candidates who could serve on the board of directors. I also intend to hire a financial advisor who will be responsible for accounting and tax reporting.
Thus, I have outlined the key points of future changes and look forward to your support and cooperation. With sales growth, we intend to revise our employees’ job descriptions and increase salaries following new responsibilities. Further salary increases will depend on how productive our team is. I am open to suggestions and discussion of the submitted plan and am ready to make changes to get your approval for the project.
Marketing Mix for the Real Canadian Superstore
The marketing mix is usually applied when a company’s current marketing policy requires revision. Typically, the marketing mix includes innovations and advice related to the product, price, placement, and promotion (Lahtinen et al., 2020). Real Canadian Superstore, a subsidiary of the Loblaw Companies, is a successful supermarket chain that spans Canada’s three most populous provinces. As a rule, the Real Canadian Superstore is open to innovation, and its marketing policy is quite attractive. This executive summary aims to discuss what changes could be introduced to current marketing policies.
The store’s prices are optimal and match the prices of competitors. The prices of the goods presented by the business are formed through cost-based pricing. Dry cleaning services and services provided by photo studios, fitness clubs, and medical clinics located in the supermarkets are determined by pricing based on values. Therefore, there is no need to change the pricing policy. Further, it is necessary to submit several proposals related to the change of product and placement practices. Grocery products currently occupy about two-thirds of retail supermarket space, and another third is left for consumer goods.
Expanding the area for consumer goods could attract more shoppers to this segment and encourage shoppers to view the supermarket as selling grocery and consumer goods in equal parts. Providing consumer goods with just a third of the space tells shoppers that these goods are not a specialty of the supermarket. Today, the company is making efforts to match competitors in this field. It might be worth redeveloping supermarkets and linking this innovation to a marketing campaign that will inform shoppers. In light of the above, it is proposed to allocate a budget for a set of marketing activities that will reach the target audience, increasing customer coverage, and increasing sales.
Thus, an executive summary for the Real Canadian Superstore was presented. The main innovation should be about product and placement changes to compete with supermarkets that primarily sell consumer goods. It is also proposed to expand the services offered on supermarkets’ territory and organize coffee, snack bars, hairdressers, and manicure rooms. It will help attract more segments of the younger generation and increase sales revenue.
Anderson, T. C., & Habner, M. G. (2020). Restructuring the hold: optimizing private equity and portfolio company partnerships. John Wiley & Sons.
Beaulieu‐Guay, L. R., Tremblay‐Faulkner, M., & Montpetit, É. (2020). Does business influence government regulations? New evidence from Canadian impact assessments. Regulation & Governance, 4(6), 1-15.
Lahtinen, V., Dietrich, T., & Rundle-Thiele, S. (2020). Long live the marketing mix. Testing the effectiveness of the commercial marketing mix in a social marketing context. Journal of Social Marketing.
Weissman, E., Robinson, J., & Cecio, W. (2020). The promise and pitfalls of mobile markets: an exploratory survey of mobile food retailers in the United States and Canada. Agriculture and Human Values, 37(1), 895-906.