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0px 0.0px; font: 13.0px ‘Times New Roman’; color: #000000; -webkit-text-stroke: #000000}p.p8 {margin: 0.0px 0.0px 9.0px 22.5px; text-indent: -22.

5px; font: 13.5px ‘Times New Roman’; color: #000000; -webkit-text-stroke: #000000}li.li4 {margin: 0.0px 0.0px 14.4px 0.0px; text-align: justify; font: 14.0px ‘Times New Roman’; color: #000000; -webkit-text-stroke: #000000}span.

s1 {font-kerning: none}span.s2 {font-kerning: none; background-color: #ffffff}span.s3 {font: 14.0px Symbol}span.s4 {font: 13.5px ‘Times New Roman’; font-kerning: none; background-color: transparent}ul.ul1 {list-style-type: disc}PRESENT GLOBAL BUSINESS ENVIRONMENT, ITS IMPACT ON CANADIAN BUSINESS, OPPORTUNITIES AND CHALLENGES FACED BY SUCH AN ENVIRONMENTGlobal Business Environment is the sum of all external and internal factors that influence business. The external factors and internal factors can influence and affect each other.

For example, a health and safety regulation is an external factor that influences the internal environment of business operations. Additionally, some extrinsic factors are beyond control.The word global means “spread throughout the world.” Globalization means the companies regions, the nations also the continents are struggling to attract business investments.The business environment includes factors such as:Clients and suppliers; its competition and owners; improvements in technology; laws and government activities; and market, social and economic trends.

 Global Business Environment describes the reality of the nature of international trade: it is evolving fundamentally as many forces shaping the universe and dynamics of global commerce.The global business environment classified into the external environment and the internal environment. The global business environment means the domain in different sovereign countries, with factors exogenous to the home environment of the organization, influencing decision making on resource use and capabilities.

 1.    External Environment: Under this category organization faces opportunities and threats. Micro Environment Suppliers of Inputs Customers Marketing Intermediaries Competitors Publics Macro Environment Economic Political-Legal Technological & Global Socio- cultural Demographic Natural & Ecological are External Environment2.     Internal Environment: It provides strength or causes weakness of a strategic nature Value System Mission & Objectives Organizational Structure Corporate Culture Quality of Human Resources Labor Unions Physical Resources Technological Capabilities are Internal Environment.PART 2REACTION OF CANADIAN BUSINESSES TO THE GLOBAL BUSINESS ENVIRONMENTThe factor which has become more critical to business firms is the political-legal environment as it presents a specific risk (terrorism) which need to be taken care off.

Lloyd’s of London is a renowned insurance company as one of the world’s largest sponsor of terrorism insurance. In Toronto in November 2007, Lloyd’s spokesman warned that terrorism and political risk is a threat to governments as well as to business. The global economy in Canadian business environment is operating in some dangerous places, and their assets are difficult to protect.

In a crucial year, there are 150-200 incidents of terrorism against businesses worldwide. The most at-risk in Canadian trade are hydro, nuclear plants and also oil pipeline.Under socio-cultural environment, there are growing activities by different mass troops who concluded that business firms could not be computed on to perform in socially responsible fashion.

As, e.g., during 2007, Greenpeace—a renowned environmental special-interest group launched a media campaign against Abitibi Bowater Inc., a giant Canadian forest brand group. As part of the campaign, Greenpeace provides a banner at the firm’s home office that refers to “Looters of our Forest.

” In the case of Netherlands on October 2007, Greenpeace activists had prevented the unpacking of a ship loaded with newsprint manufactured by Abitibi Bowater. Greenpeace has also pushed the company to adopt forest management guidelines set by the Forest Stewardship Council (FSC) rather than the Canadian Standards Association (CSA) guidelines that the company has been using. The campaign was affecting since FSC has more global credibility with environmental groups than CSA does.However, FSC has a problem of its own. Its standards differ from region to region. Also, FSC had disclosed that few companies using its logo that are not using sustainable forestry practices.

Even some environmentalists are unhappy with FSC. They claim that one organization in Southeast Asia has permission to use the FSC logo which had shattered large segment in Indonesian rainforest and endangered the surroundings of orangutans. After these claims highlighted, FSC reversed the firm’s entrance. The forestry practices of Canadian companies like Abitibi Bowater—which are quite good generally—may entirely be superior to those of a foreign organization that is FSC-certified. These complexities and uncertainties make it difficult for managers in forestry companies to identify the optimal decision in a given situation.These examples illustrate that the external environment is complicated and full of uncertainty.The examples explained above demonstrate that the external environment reflects extensive entanglement, unpredictability, challenges, favorable circumstances for the businesses in Canada. These factors are impossible to ignore because they have a probable effect on markets.

These organizational administrators must, therefore, expend ample amount of time to tie and strength in preparing how to accord with the difficulties and uncertainties, deciding how they are going to cope up with the challenges, and determining how they are going to capitalize on the opportunities that are presented by the external environment.Global business in climate-friendly technologies has been outstripping Canadian exports periodically, leading to declining global trade. While Canada head the way on clear technology research attempted by an academic center, it was not in cutthroat competition in degrading the analysis to get ready for market tech. Climate-friendly businesses in Canada also face immense competition in a multinational trade. Funding is often more plentiful in competitor countries, where more streamlined climate policies provide clear incentives that encourage a flourishing climate-friendly sector.PART 3TOOLS AND STRATEGIES FOLLOWED BY CANADIAN BUSINESSES FOR GLOBAL ENTRY AND EXPANSION Global expansion is costly and complex.

 Canadian products are in high demand in the globalized market. It’s always been a challenge to access those markets due to global supply chains, free trade agreements and advances in transportation and telecommunications.However, a substantial degree of risk involved it needed to set up operations internationally. To minimize the risk, a structured and strategic approach required for international growth to ensure limited resources have been utilized to get maximum sales results.

It’s important to recognize that exporting or other international expansion efforts aren’t a fast cash exercise. Instead, they should be a long term endeavour that can take a number of years to come to fruition.Follow these below essential steps to global expansion success. The Canadian business can go global and expand activities in several ways:Building viable relationshipsStreamlining access to capabilitiesConnecting people and skillsFocusing on national prioritiesGrowing marketsExpanding consumer consumptionImproved business climatePerforming global activities can take the form of exporting, licensing, a joint venture or manufacturing, but whatever category you choose, the primary business rules apply: assess customer demand, gain legal and accounting assistance, protect intellectual property and obey regulations.Canadian products are in high demand in the globalized market.

It’s always been a challenge to access those markets due to global supply chains, free trade agreements and advances in transportation and telecommunications.However, a substantial degree of risk involved it needed to set up operations internationally. To minimize the risk, a structured and strategic approach required for international growth to ensure limited resources have been utilized to get maximum sales results.It’s important to recognize that exporting or other international expansion efforts aren’t a fast cash exercise. Instead, they should be a long-term endeavor that can take some years to come to fruition.Follow these below essential steps to global expansion success.

•    Finances—Does the business have the financial capacity to make a long-term commitment to exporting or another foreign expansion project?•    Leadership—Are the owners of the organization and senior managers all on board? Are they ready to get the outside expertise they require to control the management and administration?•    Team—Is there adequate sales, marketing, and other human resources? What additional personnel needed?•    Products or services—What differences will the offerings make in a foreign market competition? Will they able to adapt them to the requirement and desires of customers in their targeted markets?Find the best markets for business to consider globally.It is essential to do an accurate analysis of potential demands in the market. It is necessary to screen them minutely both for opportunities and risks involved.

Research the regulatory environment. Look at risks including those with the intellectual resources. Investigate if there is a clear and increasing demand for the type of products or services that offered, and a base of possible customers with desires and capital to obtain.And also consider local culture and customs.

These may influence how will the package and market your products required. It could also impact dealings—which do not want to harm rewarding business partnership.It is also vital to shortlist possible market demands. The last step is to make final selections in line with company’s situation. Attending various trade shows and events specific to your industry in the country helps a lot to enter the global market. Another option is to join in governmental activities.

Market entry strategy requires identification of objectives explicitly so that the right tactics can be used to reach goals and give oneself more credibility with lenders or investors, require external funding.PART 4RECOMMENDATIONS TO BUILD FUNCTIONAL EXCELLENCE It seems that globalization becomes the constant power nowadays, with global trade continuing to expand through the highs and lows of the present economy of the world.In the forthcoming days, advanced economies will have to struggle with the inheritance of significant budgetary loss from the present economic disaster, adjust to innovations, ease the force of change in climate, and face enormous competition from arising economies. Since the population of Canada ages and deteriorates relative to the growth of population, productivity growth will need new guidelines to solve the issue. The focus should be on policy analysis on maximizing Canada’s engagement in the global knowledge-based economy.Four Ways to build functional excellence on global basis:1. Orders from Canadian purchaser who then export your product which is the lowest risk of all. Rely on others to locate the opportunities and take part in the investigation and interventions.

2. Nowadays foreign clients operating in Canada. International organizations, external administration, and global retailers can buy goods in Canada to export to their particular market.3. Export management, sales agents or exchanging houses can help to access foreign markets while still being involved in the control of the sales and terms.

These intermediaries will build your export expertise and be able to provide information about new trends or market shifts.4. Marketing, advertising and delivering goods are required to build functional excellence globally. This option calls for a high commitment in resources, resolve and business savvy.CONCLUSIONSBesides selling any products outside the country, some of the most significant opportunities may be available in the stock chain.

Incorporating more foreign partners into the supply chain can help business to reduce costs, improve productivity and find new markets.The goal of Canadian business environment is to spread the business globally with growth and opportunities. Turning the challenges or the weaknesses of the organizations into strength and opportunities.The business is pursuing broader trade and investment knot with many of the most significant, most active and fastest moving trades around the globe to boost Canada’s cutthroat competition in a global economy. The steadily changing global economic scenario needs Canada to remain skillful. Thus, it can be concluded that to stay competitive the business must keep challenging itself with new products, technologies, and ideas.References(2018).

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Retrieved 21 January 2018, from https://www.cf-sn.ca/business/business_expansion/expansion.phpCanada’s economic future tied to global competitiveness: report. (2018). The Globe and Mail. Retrieved 21 January 2018, from https://www.theglobeandmail.

com/report-on-business/small-business/sb-growth/going-global/canadas-global-trade-agenda-opportunities-for-smes/article13936619/Global Business Environment: Comparing the Then and Now | Expatriatus. (2018). Expatriatus.

Retrieved 21 January 2018, from http://blog.iese.edu/expatriatus/2014/09/19/global-business-environment-comparing-the-then-and-now/Global Markets Action Plan. (2018). GAC. Retrieved 21 January 2018, from http://international.gc.

ca/global-markets-marches-mondiaux/plan.aspx?lang=engHow to enter a foreign market – 3 essential steps. (2018). BDC. Retrieved 21 January 2018, from https://www.bdc.ca/en/articles-tools/marketing-sales-export/exportation/pages/how-enter-foreign-market.aspxLLP, B.

(2018). Business Case Studies – Teaching business studies and AQA business studies by example. Businesscasestudies.co.uk. Retrieved 21 January 2018, from http://businesscasestudies.co.

ukMarket Entry Strategies. (2018). Tradestart.

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