...water, Canada also has a massive forests and plenty minerals and metals. Canada has over 200 active mines, which can turn out into more than 60 different minerals and metals. Canada is rich in Platinum group metals, titanium concentrate and tungsten, diamonds, nickels, aluminum and cobalt; it also has the largest amount of potash than any other countries. An abundance of oil, minerals, and metals with the help of advanced technology, 15% of Canada’s economy has been directly contributed by its natural resources. Some of the other products such as equipments, machines, and constructions also add up another four percent to Canada’s nominal GDP indirectly from its resources. In 2011, there were around 800,000 people...
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...definition may read, an oligopoly is actually a rather complicated and multi-layered market model. In the next few pages of this report I will analyze the oligopoly of the Canadian banking industry and reveal the factors the oligopolists have to consider; type of product, strategic behavior and mutual interdependence, entry barriers, merger’s, some of the shortcomings of this market structure as well as the potential for profits. As the definition of the term indicates, in order to be considered an oligopoly, there are to be only a small number of producers. More specifically, the structure calls for “a few large producers”.2 The textbook, Microeconomics by McConnell, Brue, Flynn and Barbiero goes on to indicate that any industry which uses the term Big Three, Big Four, etc. would be considered an oligopoly. The Canadian banking industry is well known by the “Big 5” banks: RBC (Royal Bank of Canada), TD (Toronto-Dominion Bank), Scotiabank (Bank of Nova Scotia), BMO (Bank of Montreal) and CIBC (Canadian Imperial Bank of Commerce). To further confirm the fact that the “Big 5” are indeed an oligopoly, combined, they account for more than 85 % of the banking industry in Canada.3 Let us now begin the analysis. Type of Product - Homogeneous Oligopoly Canada’s banking industry produces standardized products, therefore classifying the industry as a homogeneous oligopoly. The Encyclopedia of Business states that standardized products are developed when “the major firms...
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...acquired ownership in the Chinese company Five Star, the third largest CE chain retailer in China. The problem occurring from this ownership of Five Star was the international expansion of Best Buy and how it would be handled while expanding into China. In 2002, Best Buy had acquired 100% ownership of the largest Canadian CE chain retailer, Future Shops, in their beginnings of international expansion. Senior vice president, John Noble, was at the head of the Best Buy International and steered the company to implement a dual-brand strategy in launching Best Buy into Canada. What this means by dual-branding was that even though the two retailer were owned and operated by the same mother company, they went into a head-to-head competition as separate entities of the single companies. This was the first of this strategy that Best Buy had ever implemented and it was deemed to fail because the company was not used to this type of operation. But within the first year of full competition between the two brands, upper management had seen this tactic become very successful. In the decision of how to approach this situation there was much controversy on how this would be handled. There was always the option of Best Buy to completely absorb the Future Shop brand and transform all the already established stores to Best Buy locations. Within the short run, this would look like the most financially intelligent decision of the company, but with further investigation, there would be a large...
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...world’s most popular banks in North America and is located in Canada, Halifax. Founded in 1832, Scotiabank came to be the second largest bank in Canada. A year after its development, Scotiabank paid out its first dividend to shareholders. Having marked the method in history, it was carried out through the golden era to the modern era and is yet continued to this day. Scotiabank provides innovative financial products and services to individual customers, small/medium sized business, corporations and governments across the world. Scotiabank operates in North America, Europe, Middle East, Asia and South America and has relationships with selected countries. Scotiabank is ranked as the leading financial provider of financial services. The bank consumes over $250 billion worth of assets, has 720 branches and organizes 50,000 employees in 50 countries worldwide. Scotiabank conducts through domestic banking, wealth management, Scotia Capital, and international banking. All of which are connected to their customers in different ways, from serving through networks, accounts to using an automated banking machine. Scotiabank is most popular for its massive selection of 60 mutual funds and managed portfolios to help investors accomplish their goals. More importantly Scotiabank mutual funds are sold by a commercial bank that competes with other banks in Canada such as TD Bank, Bank of Montreal and the Royal Bank of Canada. All three banks offer mutual funds regarding benefits for a customer’s...
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...3705 Dr. Constantine Passaris April 23, 2014 GEOGRAPHY: * Canada has a higher land area at 9,093,507sq km for land, and 891, 163 sq km for water. * France on the other hand has less land area at 551,500sq km, and water at 3,374sq km * France has more border countries – 8 (Andorra, Belgium, Germany, Italy, Luxembourg, Monaco, Spain, and Switzerland. * Canada has just the U.S as a border country and is the world’s largest county that borders only one country. * Both countries have similar climates, although Canada’s varies from temperature in south to subarctic and arctic in north. Whilst, France has generally cool winters, and mild summers. * Both countries consist of mostly flat plains with mountains. Although positions differ; France has its flat plains in the north and west, whilst Canada has plains in the west and lowlands in the southeast. * Both countries are sources of natural resources; and haves share the similar resources of: * Iron ore * Zinc * Timber * Fish * Land use differs though, with France having a higher rate of land use and permanent crops at 33.45% and 1.86% respectively. (Canada – 4.3% & 0.49%) * Both countries have to deal with natural hazards such as flooding, avalanches, midwinter storms, drought, and fires for Frances, and continuous permafrost, cyclonic storms, and volcanism for Canada. * France and Canada also have similar current environmental issues; forest damage from...
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...Individual Assignment HRMT 317 Introduction Costs are linked with all types of organizations- business, nonbusiness, manufacturing, retail and service. Cost behavior, Cost accounting & allocation, and Budget- these are the three key requirements to run any business nowadays. Measuring cost behavior (cost measurement) is associated with understanding and calculating how activities of an organization affect different levels of cost. On the other hand, cost accounting is a kind of accounting method that targets to capture an organization’s costs of production by evaluating the input costs of each step of production as well as fixed costs. Then, cost allocation is the allocating of a common cost to several cost substances. Additionally, budget is an estimate of earnings and expenses for a set period of time. These are commonly used terms in financial accounting information as well as in any business. My company is called The EBag Co. Ltd, which is in business for more than 5 years in the production sector of the market. This profitable business is earning its profits by manufacturing affordable bags for consumers of all ages. My company will use these three requirements of this assignment to make business more profitable in coming days. I will use the five methods (will talk about only 3) of measuring cost function for my company to identify which costs will change and which will remain the same with changes in sales volume. Then, I will use cost allocation...
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...nationalized to dismay and became state owned. It has largest network within Iranian banking system with 2700 local branches, 21 overseas branches. 2. Islamic Contracts: these are contracts under which banks are authorized to grant facilities to the customer and participate indirectly in the investments: Quardh Al Hassaneh, Direct Investment, Guarantees etc., Electronic Banking: Mobile banking, Internet Banking, Bill, Gold deposits, Investment deposit for Children’s Future prosperity, marriage portion, farmers and workers’ future prosperity etc (BSI, Annual Report , 2011). 3. BSI went international in 1961 by opening a branch in Hamburg and thereafter opened branches in major European cities and Gulf region. 4. Management at...
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...products. The newer technology, PureBond Hardwood Plywood being one of them. Most of the time in plywood manufacturing the way that the different pieces of wood are bonded together have the chemical formaldehyde in them, creating health hazards. However, what the Columbian Forest Products Company does is use a soy based bonding agent called Pure Bond which eliminates the use of formaldehyde. According to the Biomimicry Institute, “this adhesive is modeled after the sea creature, blue mussels, and when adding catechol groups to soy protein the structure becomes remarkably similar to marine proteins, creating much stronger and more durable adhesion properties.” Thus, Pure Bond is created....
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...representatives in the legislative branch of the government. It allows new designs and ideas and they bring it to the government. Common law is also known as a precedent or case law, which are cases that have already been decided by courts. A good example of common law is common law marriage; overtime there are laws and restrictions that are not enforced unless a couple has been living together for a certain amount of time. Some couples in different states after seven years’ time is deemed to be “married” or union which is considered legal. One of the most important laws put in place are commerce laws or business law. Commerce law is the exchange of goods, products, or any type of Personal Property. Trade and traffic carried on between different peoples or states and its inhabitants, including not only the purchase, sale, and exchange of commodities but also the instrumentalities, agencies, and means by which business is accomplished ("The Free Dictionary", 2013). The commerce laws help businesses conduct a wider range of business amongst different states using...
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...Reinventing Retail Banking Series Evolving Models of Retail Banking Distribution Capitalizing on changes in channel usage Produced by the Deloitte Center for Banking Solutions Reinventing Retail Banking Generation Y Reinventing Retail Banking Series Consumer Trust Reinventing Retail Banking Series Catalysts for Change The Implications of Gen Y Consumers for Banks Building Consumer Trust in Retail Payments Laying a Solid Foundation Produced by the Deloitte Center for Banking Solutions Produced by the Deloitte Center for Banking Solutions The traditional retail bank is at an inflection point. The needs and expectations of customers are changing as quickly as the competitive landscape. Customers are demanding seamless, multi-channel sales and service experiences and not consistently receiving them. Simultaneously, other financial institutions and non-traditional players are looking for opportunities to invade this space or to redefine it through disruptive innovation. The result is forcing banks to examine a more balanced, integrated approach to the customer experience and growth. In this series, entitled Reinventing Retail Banking, the Deloitte Center for Banking Solutions looks at how banks must move beyond simply meeting their profit and growth goals to delivering more completely on the customer experience. Specifically, these articles will focus on: understanding customers needs; identifying emerging and profitable customer segments and strategies...
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...and basic investment products like savings accounts and certificates of deposit. The traditional commercial bank is a brick and mortar institution with tellers, safe deposit boxes, vaults and ATMs. However, some commercial banks do not have any physical branches and require consumers to complete all transactions by phone or Internet. In exchange, they generally pay higher interest rates on investments and deposits, and charge lower fees. Investopedia Says Investopedia explains 'Commercial Bank' Commercial banking activities are different than those of investment banking, which include underwriting, acting as an intermediary between an issuer of securities and the investing public, facilitating mergers and other corporate reorganizations, and also acting as a broker for institutional clients. Some commercial banks, such as Citibank and JPMorgan Chase, also have investment banking divisions, while others, such as Ally, operate strictly on the commercial side of the business. State Bank of India (SBI) is a multinational banking and financial services company based in India. It is a government-owned corporation with its headquarters in Mumbai, Maharashtra. As of December 2012, it had assets of US$501 billion and 15,003 branches, including 157 foreign offices, making it the largest banking and financial services company in India by assets.[2] The bank traces its ancestry to British India, through the Imperial Bank of India, to the founding in 1806 of the Bank of Calcutta, making...
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...Lisa C. Litz Ramona Brockman Environmental Science February 18, 2014 Benchmark Part 1 Nature Observation ~ Pond and Surrounding Woods, West Pointe, CA Our favorite place for taking nature walks is in the woods surrounding my parent’s cabin in West Pointe, Ca. My daughter and I have been taking walks in the woods up there for over six years. We have seen a variety of different animals up there on our various outings depending on the time of year we’re up there and the time of day we take our walks. All of the plants and animals we’ve seen up there make up the biotic factors for this environment. There are a number of different species of trees and flowering plants around my parent’s cabin and the outlying trails we go exploring on. Even though there are a number of cabins up here, they haven’t really disturbed the environment to the point that it’s affected the number of different creatures that still wander through the woods. Besides all of the wonderful biotic factors we so enjoy up here there are also a few abiotic factors that interact with the wildlife. There is a slow running stream that runs between a few of the cabins, and then a couple of miles down the road there’s a large standing pond just off to the side of the road. The main abiotic factor is the sun, which is where all the living organisms derive their energy from. Energy is another abiotic factor. The plants derive energy directly from the sun, whereas the animals get their energy indirectly from the sun by...
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...The position of District Manager at Goodall Canada is held by Pat Greene. Pat is an effective manager. To make things happen he must implement various managerial skills on a daily basis. Goodall Canada is a company that specializes in manufacturing and distributing hydraulic and industrial hoses and fittings. There are branches coast to coast, serving many industries. Goodall has social responsibilities. Goodall must consistently operate efficiently and profitably (economic). Working in conjunction with safety officers, accounting and legal departments management must ensure the company is complying with all of society’s laws and regulations (legal). There is a responsibility to ensure the company and its ambassadors conduct business in an ethical manner in accordance with the stakeholders’ view of what is right and wrong. Some of the primary stakeholders include: employees, suppliers and customers. Secondary stake holders include: NAHAD (National Association for Hose and Accessory Distribution) and Occupational Health and Safety (since hazardous materials are conveyed using Goodall’s products). It can be challenging appeasing various stakeholders. Virtually every decision made could potentially affect all stakeholders. The District Manager role has elements of three of the different types of managers. There are elements of top-management, because Pat has been instrumental in creating a positive culture. He is also involved with goal-setting and planning. Middle-management...
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...The importance of customer service at Enterprise Rent-A-Car Introduction Most people probably think they know what Enterprise Rent-A-Car does. It is in the car rental business and operates a fleet of more than 850,000 vehicles. However, Enterprise Rent-A-Car has quite a different idea of what its business is all about. In Enterprise’s view, the business it is involved in is customer satisfaction. This is a characteristic that it shares in common with every successful service company, large or small. A service business is one that meets customer needs by providing them with a valued service. As individuals, all of us use services – having our hair cut, going to the cinema, drawing money out of our bank account and many other activities. Businesses also use services such as transport, insurance, and financial services. Enterprise Rent-A-Car is the number one rental car company in North America and arguably, the world. CURRICULUM TOPICS • Marketing and the business environment • Customer satisfaction • Evaluating customer service • Market research and development GLOSSARY Service: any way of providing benefits to a customer that doesn’t involve the exchange of a tangible good. Forbes: an American business and financial magazine. It produces lists of the biggest and most important companies in Britain, America and elsewhere. Private companies: companies that are owned by shareholders. These shares are not available for purchase by the general public. Revenue: the total value...
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...Reinventing Retail Banking Series Evolving Models of Retail Banking Distribution Capitalizing on changes in channel usage Produced by the Deloitte Center for Banking Solutions Reinventing Retail Banking Generation Y Reinventing Retail Banking Series Consumer Trust Reinventing Retail Banking Series Catalysts for Change The Implications of Gen Y Consumers for Banks Building Consumer Trust in Retail Payments Laying a Solid Foundation Produced by the Deloitte Center for Banking Solutions Produced by the Deloitte Center for Banking Solutions The traditional retail bank is at an inflection point. The needs and expectations of customers are changing as quickly as the competitive landscape. Customers are demanding seamless, multi-channel sales and service experiences and not consistently receiving them. Simultaneously, other financial institutions and non-traditional players are looking for opportunities to invade this space or to redefine it through disruptive innovation. The result is forcing banks to examine a more balanced, integrated approach to the customer experience and growth. In this series, entitled Reinventing Retail Banking, the Deloitte Center for Banking Solutions looks at how banks must move beyond simply meeting their profit and growth goals to delivering more completely on the customer experience. Specifically, these articles will focus on: understanding customers needs; identifying emerging and profitable customer segments and strategies...
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