Veterans Electronics Inc. Expansion in to Canada
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Veterans Electronics Inc. Expansion in to Canada Keokolo Pa’akoniaOklahoma Wesleyan University22 October 2017Abstract Veterans Electronics Inc. (VEI) intent on expanding on the global market has evolved over the past few years. With the growth of our products, demand on the international front, and production prices on a consistent rise here in America, VEI plans to expand to a more cost productive and aspiring market. With the rise of business interactions globally, the need for office equipment is at an all-time high. It’s because of these events VEI emergence in Canada is vital to the continued growth and success of our company and no time is more appropriate than now. Canada boasts an enviable combination of strong basic macro-economic fundamentals, an abundance of key natural resources, top-quality human resources and an extremely pro-business climate – all of which make the country a ‘must-explore’ market. In addition, Canada has developed one of the world’s great transportation networks and attracts some of the globe’s top talent to live and work there (Global Business Culture, n.d.).Background on Canada Canada’s lawmakers 2016 budget funded the Public Transit Infrastructure Fund with $3.4 billion which will be utilized for infrastructure upgrades beginning in 2016 and running through 2019. Canada’s 2017 budget shows further investment from the government, investing another $20.1 billion over the next 11 years. Furthermore, Canada Infrastructure Bank plans on investing another $5 billion towards infrastructure improvements (Infrastructure Canada, 2017). These infrastructure improvements will catapult an already remarkable transportation infrastructure. April Terreri (2004) writer for Inbound Logistics wrote: Canada boasts one of the worlds most modern and highly developed transportation infrastructures. Among G7 countries, Canadas infrastructure was ranked number-one by the World Economic Forums Global Competitiveness Report. Canada ranks 38th in population with an estimated 36.7 million citizens and bolster an unemployment rate that hovers around 6.9 percent and a population density of 4 citizens per square kilometer which ranks 228th in the world. Canada’s unemployment ratio of 6.2% for males and 5.4% for females between the ages of 25 and 55, prime labor and entrepreneur ages, and fosters 25% population holding either a Masters or Bachelor’s degree. A significant report prepared recently by the RAND Corporation, Global Technology Revolution 2020 (2006), concludes that the technologies and applications with the greatest potential for significant global impact by 2020 fall, not surprisingly, into the four broad categories of biotechnology, information technology, materials technology and nanotechnology. Except for nanotechnology, these major enabling technologies have been singled out, for at least the last 25 years, as areas of exceptional opportunity. And experience has borne this out (The Committee on the State of Science and Technology Canada, 2006). With 25% of working Canadians holding degree’s and a booming technology industry Canada not only possesses the means for expansion but allows more ports for exports outside of North America and with its geographical proximity to the United States shipping cost, travel and cheaper energy cost should offset a slight increase in labor cost.
Canadian electricity generation in 2000 totaled 567.1 billion kilowatt hours (bkwh), of which 60% was hydropower, 26% was conventional thermal power (oil, gas, and coal), 12% was nuclear generation, and 1% was derived from other renewable sources. Canada was the largest producer of hydropower in the world in 2000, and hydro sources are not yet believed to be fully exploited. Trends in coming years are expected to favor thermal power generation, mainly from natural gas (Global Energy Network Institute, n.d.). With this amount of energy and a stabilized electric grid VEI can establish sufficient warehouse inventory procedures, manufacture both components and completed assembled products and distribute them back to America or export them globally. Business Sociology (Customs and Courtesies) Canadians have two national languages both English and French but also have an abundance of immigrants who speak their native language. While their similarities to Americans are extensive, Canadians hate being labeled as such. Marketing could prove challenging in Quebec as billboards and signs visible from a public highway, on a public transport vehicle or in a bus shelter must be exclusively in French (Morgan, 2014). Eye contact is paramount when dealing with our Canadian counterparts as is a good strong handshake. These pleasantries well take place every morning as is customary in Canada. VEI will implement a no colognes or perfumes policy as many individuals in Canada suffer from either asthma or allergies. A conservative business attire for both men and women is expected and business cards will be translated in both French as well as in English. Business lunches conducted will be short timed, light food and without the consumption of alcohol, which is a common in Canada’s business realm. Women are held in high regards and their presence is more than accepted in the Canadian business culture. (Todays Translations, n.d.). Important holidays in Canada are New Year’s Day (1st January), Good Friday (two days before Easter Sunday), Easter Monday, Victoria Day (last Monday preceding May 25), Canada Day (July 1), Labour Day (first Monday of September), Thanksgiving Day (second Monday in October), Remembrance Day (11 November), Christmas Day and Boxing Day (25th and 26th December) and VEI will institute a no work policy on these days as is customary in Canada. Meetings held by or including VEI will be well-organized and adhere to time schedules. Meetings may be informal and relaxed in manner even if the subjects being discussed are serious. When meeting with Anglophones, meetings may seem more democratic as all participants will engage and contribute. Meetings in Canadian companies are used to review proposals, make plans, brain-storm and communicate decisions. Attendees will generally represent a variety of levels and experiences; all are expected to express opinions. Meetings with Francophones, due to a greater respect for hierarchy and position, may revolve more around the most senior attendees (Commisceo Global, n.d.). Understandings of whom we are meeting with and their backgrounds is imperative for the continued success and growth of VEI in the Canadian business establishments. VEI expects American leadership to begin learning and become proficient in the French language. Formal instruction will be conducted with all American VEI employees on customs and courtesies prior to any departing to Canada.