...Lindsay MacIsaac Concept 1 – Economic Systems DEFINITION An economic system allocates a nation’s resources among its citizens. Different systems vary in who owns and controls these resources, which are known as the factors of production (labour, capital, entrepreneurs, and natural resources, as well as physical resources and information resources). A command economy relies on a centralized government to control all or most factors of production and to make all or most production and allocation decisions. In market economies, individuals—producers and consumers—control production and allocation decisions through supply and demand. Most countries rely on some form of mixed market economy—a system featuring characteristics of both command and market economies. ROLE A major determinant of how organizations operate is the kind of economic system that characterizes the country in which they do business. To be successful, an organization must recognize how much control it has over the production and allocation of the factors of production. Operating in a command economy, such as communism or socialism, requires much different business strategies than operating in a market economy, such as capitalism and input and output markets. Unlike command economies, market economies function on a circular flow of supply and demand between firms and households. APPLICABILITY Canada’s mixed market economic system resembles a type of market economy known as “laissez-faire...
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...Canada economic system is also referred to mixed economy because it involves both private and public ownership of resources, and good and services are produced and provided by both the government and privately owned companies. Canada’s system is often referred to a capitalist system because we allow and also encourage the private ownership of capital, that is, the plants, factories, equipment, and so forth that are used to produce and provide goods and services. India has a Mixed Market economy meaning it uses a variety of government regulation to control the economy, but relies primarily on market that forces to set prices and demand and uses general principles of capitalism. India is having a mixed economic structure. It is neither fully capitalist nor fully socialistic. It is neither completely an open system nor a fully free market system. The key variables in the choice of this economic design are: people's welfare, equitable distribution of wealth and income, a logical link between employment and incomes, restraining monopolies and concentration of power and wealth, and supporting health and education sectors through government subsidies and political strength. India has a mixed economy. Half of India's workers rely on agriculture, the signature of a traditional economy. One third of its workers are employed by the services industry, which contributes two-thirds of India's output. The productivity of this segment is made possible by India's increasing move...
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...Two Systems One Vision “Health care U.S vs. Canada” There are two different ways in which to approach the concept of universal health care one system can be described by aspects of Canada and another system can be described from modeling the current U.S system. The current President and his administration will deal with the daunting task of creating a universal health care plan and making health care affordable for the average American. In their quest to create a universal health care plan they may look towards our friends north of the border. Canada has implemented a Universal health care plan that has been running for several years, abet its health care system is not perfect; it is important for the United states listen to its neighbors and research the possible downfalls. This research paper will discuss the possibility of using the Canadian Health care system as model to improve universal health care in the United States. Many ask how Canada Manage to offer such a comprehensive health care system does. The answer to this question isimply put is money. Health care in Canada is funded by publically funded health care system. The Canada Health care act created five provisions that each provinces and territories would have to meet in order to retain federal monies. These provisions included: • Public Administration: All administration of provincial health insurance must be carried out by a public authority on a non-profit basis. They also must be accountable to the...
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...Commentary www.cdhowe.org No. 250 June 2007 ISSN 0824-8001 C.D. Howe Institute The Pension Papers Ill-Defined Benefits: The Uncertain Present and Brighter Future of Employee Pensions in Canada David Laidler and William B. P. Robson In this issue... Attempts to shore up the classic single-employer, defined-benefit pension plan are the wrong response to Canada’s occupational pension problems. While tax and regulatory changes can help, Canadians need a new approach to retirement income that will pool risks, control costs, and avoid the agency problems that have put many pension promises at risk. The Study in Brief The problems of employer-sponsored defined-benefit (DB) pension plans in Canada raise two issues: the need for short-run measures to limit the damage; and the need for new pension models to prevent their recurring. The DB sector’s immediate preoccupations are the result of changes in the economic environment — in particular, a decline in long-term interest rates — that caused their balance sheets to deteriorate, and of changes in accounting standards to more market-based methods that revealed the underfunded state of these plans in stark form. The immediate policy challenge is to ensure the recovery and/or restructuring of sick plans, and the continued health of sound ones. Extra time and financial scope to work off deficits are good, but current limits on contributions to plans should rise or disappear, while legislation to establish clear title...
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...Environmental Analysis (Target Country) Student Names: Aqeela Romer, Carleen Etienne, Christina Williams, Tenniel Cartwright and Chelsi Fowler Course: MKTG 412-0116 Instructor: Michael Rolle Affiliation: The College of The Bahamas Date of Submission: March 10, 2016 Canada’s Cultural life According to “International Marketing,” ‘culture is an integrated system of learnt behavior patterns that are distinguishing characteristics of the members of any given society.” Canada’s culture originated from Europe, especially Britain and France. Canadians are relatively a broadminded, civil and very community-oriented people. Although they are individualistic in terms of their basic cultural traits, they nevertheless place a great deal of emphasis on the individual's responsibility to the community. This is seen as giving balance and a good quality of life. They’re also very protective of their constituent identity and encourage their people to stay true to it. Canada also has a low context which means most of its information is explicitly contained in the words. Furthermore, Canada’s government is made up of constitutional monarchy that is also a parliamentary democracy and a federation. A multitude of languages are spoken in Canada. According to the 2006 census, English and French are the preferred language of 67.1% and 21.5% of the population, respectively. Canada also has five widely-spoken non-official languages...
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...Chapter One Canadian Constitution * THE MOST IMPORTANT DOCUMENT IN CANADA!!!!!!!!!!! * Has the roles of ALL levels of the government and describes how they work together * Governor General * Executive * Legislative * Judicial * Also has things like ooooh, the Charter of Rights and Freedoms British Monarch * The governor general is the Queen’s representative here in Canada * They are the formal head of state * So no real power… * Considered part of the executive and legislative branch The Executive Branch * Prime Minister and the Cabinet are part of the executive * To become PM, you have to lead a political party and win the most seats in the HofC * The cabinet is chosen by the PM and they come from his political party * Makes most laws and goes through the process to enact them * Basically runs the government through the days * Cabinet ministers are given portfolios that they are responsible for * They research issues and help to propose laws from their portfolio * Ex. Agriculture, justice, foreign affairs are types of portfolios * Each cabinet runs their own affairs which is the day to day activity of the government. * Each cabinet minister has their own staff to help them Political Parties * Whoever has the most seats leads the government * Candidates run for election, party with most votes form government * Are considered organizations...
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...Canada, A Cultural Analysis Abstract Canada is a beautiful country that is adjacent to the United States of America. There are many resemblances between Canadian culture and American culture. It is also common for Canadians to expect great communications in the workplace and friendliness. It is valued to be respectful of others ethical background as well. It is also standard to see similarities in basic hand shake as a cultural behavior to mean many things. In a business environment in Canada, business people often begin relationships in a reserved manner; once people get to know one another they usually become friendly and informal. Canada as the United States encourages small businesses to grow and prosper as well as their economic. In regards to the workplace, Canada also promotes from within companies and wants its workforce to be involved in a company’s growth and offers great benefits to its employees. Canada as the Unites States offers great cultural diversity among its people and within the workforce as well. It would be easier for an individual to adapt to Canadian ethical behavior since it is similar and diverse as the United States. There are many similarities and differences between the culture of the United States and the culture of Canada. While there are many preconceptions about the culture and behaviors of Canadians, many of the country’s customs are similar to those found in the United States, despite differences in culture and government...
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...large Canadian company should expand its foreign operations in Germany. The country was analyzed based on its Macro Environment – country description, Political situation and stability, Legislation, Economic conditions and Cultural issues, as well as on its Factor Endowments. The findings show that Germany has an overall stable and healthy economy with excellent advanced factors of production – especially in regards to productivity and innovation. With new ties to Canada, through CETA, legislation will be easier to deal with. The country also has a similar culture and stable politics. The risks of falling GDP and low FDI do not outweigh the benefits and FDI should soon increase with Germany’s new agreements with Canada and is soon to do a similar deal with the US. It is recommended that foreign operations be expanded into Germany. Operations should proceed cautiously with wages that are stagnant in Germany and try to provide a fair wage to encourage further training and enhance the economy. COUNTRY’S MACRO ENVIRONMENT Country Description: Germany is a highly developed and wealthy OECD country [33] and is the fifth largest economy in the world in terms of PPP [17]. Its GDP/capita in terms of PPP has been on an upward growth trend since 1985 and was just below Canada’s in 2012 (Appendix 1). However, neglect has led to infrastructure that is crumbling (including highways and bridges) [25]. Their top industries include: steel, coal, cement, chemicals, machinery, vehicles...
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...the modern world many societies are separated into three economic classes, the rich, the middle class, and the poor. Many societies view the rich as opportunistic and hard working individuals within society who are always striving to achieve more than what they already have. Many other chose to prioritise the wellbeing of other economic classes believing that everyone should share equal opportunity. The three sources demonstrate the clash between these ideals and the benefits that they would bring to their nation's economy. The first source demonstrates the ideology that the as citizens we all have responsibilities determined by our wealth with the highest corporate elite bearing the most responsibility. This source shares strong similarities...
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...Centuries of Immigration to North America The focal point of this chapter is strong similarities in the immigration traditions of both countries over past two centuries along with differences in approach due to geography and economy of both countries. North America experienced major waves of immigration during the colonial era, the first part of the 19th century and from the 1880s to 1920. Many immigrants came to North America seeking greater economic opportunity, while some, such as the Pilgrims in the early 1600s, arrived in search of religious freedom. The first significant federal legislation restricting immigration was the 1882 Chinese Exclusion Act. Individual states regulated immigration prior to the 1892 opening of Ellis Island,...
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...They’ve held power for such long periods of Canadian history. • Originally the party of disenfranchised French-Canadians and Catholics in the early colonial period, during the late 19th and early 20th centuries the Liberals evolved into a more generic, centrist party favoring traditional British liberal values of free markets and personal responsibility, as well as tolerant relations between French and English Canadians. Sir Wilfrid Laurier (1841-1919), who championed all of the above to become the most successful and long-reigning of Canada’s early Liberal prime ministers, remains the iconic figure of commonsense, moderate Canadian liberalism of this period. • Liberal Prime Minister Pierre Trudeau (1919-2000), ran the country from 1968 to 1984, and remains a sort of “founding father” figure of modern Canadian liberalism. • Trudeau believed that a larger, more activist Canadian government could help alleviate the country’s social and economic ills, and create a more compassionate and egalitarian “Just Society” in the process. • Liberal Prime Minister Jean Chretien (b. 1934) and his finance minister, Paul Martin (b. 1938), ran the country from 1993 to 2006, and are credited with helping move the Liberal Party to the centre by championing balanced budgets and low taxes. • Today, the Liberal Party portrays itself as a party that is fiscally conservative, but socially progressive. They are strongly supportive of abortion rights, gay marriage and ample immigration, but also favor...
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...Content Background of the organisation-Strengths | P.3 | Background of the organisation-Weaknesses | P.4 | International marketing experience and need to explore new markets | P.5 | ‘Rough’ Market Screening-Accessibility | P.6 | ‘Rough’ Market Screening- Profitability | P.7 | ‘Rough’ Market Screening- Market Size | P.8 | ‘Fine’ Market Screening-Analysis of markets and consumers | P.9 | ‘Fine’ Market Screening-Analysis of Competition | P.10 | Opportunity analysis of the country-market | P.11 | Reference | P.12 | Background of the organisation Strengths Taipan Bread & Cakes is a Hong Kong sale of Bread and Bakery chain, founded in 1984, currently has 30 outlets in Hong Kong, which is the well-known producer of snowy moon cake. It is the strength to be the first founder of snowy moon cake, in general, snowy moon cake is equal to Taipan while people having their snowy moon cake, they must think of Taipan. Hence, the other companies also imitate the manufacturing as they see the success of snowy moon cake. Taipan is strict with the production process, it invested over $ 20 million in snowy moon cake production line, starting with the raw material suppliers to the plant, the production process requires absolute hygiene at all times to maintain a sterile state. The snowy moon cake is only sold in Taipan store without any middlemen, it helped Taipan to control their level of service strictly and which is the effective management of product sales. In addition...
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...He’ll also restore relations with Iran after the Stephen Harper [insert] closed the Canadian embassy in Tehran in 2012 and expelled Iranian diplomats from Ottawa. All signs indicate that these promises will likely be fulfilled, pushing the country toward multilateralism—a source of pride for Canadians even if, in many respects, the historical record is decidedly more mixed (of which Trudeau senior was a notable exception). But Canada’s role in the combat mission is limited in any case, and a major policy shift toward the Middle East, remains...
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...Canada Global Cultural José A. Rivera Osorio GRST 500 Research Paper Prof. Jared Mink April 8, 2014 Abstract Canada is the second largest country in the globe with population of over 32 million, the largest and most important industry Canada has is oil and logging. For businesses who want to expand towards Canada they are eight dimensions of business culture that will be detail in this analysis, and how NAFTA was formed. The agreements between U.S. and Canada with provisions that will benefit both countries, Canada also has bilateral agreements in trade with European Union and Asia, however we will only analyze U.S.-Canada cultures in business. Canada’s History The first inhabitants of Canada were native’s Indian people, primarily the Inuit “Eskimos. The Norse explorer Leif Eriksson reaches the shores of Canada at Nova Scotia in the year 1000, but the country actually begun 1497 with the introduction of the white man, John Cabot Italian at the service of King Henry VII of England reaches Nova Scotia. Canada was lost to the English in the year 1534 by Jacques Cartier which was the settlement of New France 1604, but was then was Nova Scotia in 1608. Quebec was founded, France’s colonization were not successful and ended at the end of 17th century. They penetrated beyond the Great Lakes to the western prairies and south along the Mississippi to the Gulf of Mexico. The English Hudson’s Bay Company in 1670 establishes themselves because of the abundance of fisheries...
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...of Canadian goods and services to other countries. All of these situations, and many more that are described in this text, have a common thread—they all demonstrate the key elements of business as well as the excitement and complexity of business activity. Each case tells a part of the story of our contemporary business world. Part One, Introducing the Contemporary Business World, provides a general overview of business today, including its economic roots, the environment in which it operates, the importance of entrepreneurship, the various forms of ownership of business firms, the globalization of business, and the ethical problems and opportunities facing business firms. ■ We begin in Chapter 1, Understanding the Canadian Business System, by examining the role of business in the economy of Canada and other market economies. We also present a brief history of business in Canada. Then, in Chapter 2, Understanding the Environments of Business, we examine the external environments that influence business activity. These include the economic, technological, socio-cultural, legalpolitical, and general business environments. Next, in Chapter 3, Conducting Business Ethically and Responsibly, we look at individual ethics and corporate social responsibility, and how these affect the firm’s customers, employees, and investors. In Chapter 4, Understanding Entrepreneurship, Small Business, and New Venture Creation, we examine the important concepts of...
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