Business Management Degree BMT300 Study Guide - Midterm Guide: North American Free Trade Agreement


Department
Business Management Degree
Course Code
Business Management Degree BMT300
Professor
M.Christenson
Study Guide
Midterm

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Unit 1 Notes
The Business Cycle
Slump (suffering)
Unemployment
Layoffs
Recession
Recovery
Prices go down
Boom (at a very well position)
Increase employment
High GDP
Strong $
+ Interest rates
+Inflation
Benefits of International Trade
Meeting consumer needs
Job creation (1 in 3 jobs due to exports)
Attract investment (offices, factories, warehouses)
New technology
Drawbacks of International Trade
Promote unjust treatment of others
Decrease national identity
Social welfare
Environment Issues
Political Issues (Unjust government system)
Why go Global?
Expand markets and increase sales
Control expenses – decrease production costs
Diversification – new target markets
Competition

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What is Competitive Advantage?
Market share
Customer demand
Customer loyalty (customer come back)
Distribution channels (get their market quickly)
Quality of Service (make sure customers are always deal with
complains/concerns)
Partnerships with suppliers (great partnership with supplier, get the product to the
market place)
What is the Canadian Competitive Advantage?
Infrastructure = strong transportation and communication
Strong currency and exchange rates
Lower inflation rates
Natural Resources – lots in high demand
Workforce – well educated, low turnover, high computer literacy
Entrepreneurship = innovation
Why do business in Canada?
Low production & business costs (lands, utilities labour)
Continued investment in education
Positive business climate – 4th in the world
High quality of life
Government involvement – fair tax system
Drawback to Canada
Distance to world markets
Tax policies
Competition with multinationals from other countries
Political uncertainty of Quebec
Small domestic market (large country-Canada)
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