The Current Business Environment

Why I love business – It’s always changing – You have to stay current – $$$$$$$$ – DARWIN! (Survival of the fittest) Today, we are going to look at ways that business is different than it was 10 years ago Everything we talk about today is leading to new businesses and increasing the opportunities available to entrepreneurs

Growth in Canadian Business Advances in technology Increase in Global Business Connections Growth in small business and service sectors Increased Use of Contract Labour Focus on Business Ethics and Social Responsibility

Changing Technology New technologies change the way businesses produce, buy and sell goods and services Change the way we communicate with one another Information age – Laptops, cell phones, etc have never been more important Example: UPS Tracking

Increased Globalization Canadians did business with Europe in the 1600’s Now do business all over the world Globalization – the increasing trend of doing business internationally Bombardier – Increases the competition domestically – Also increases the chance of doing business abroad

Growth Of Small Business Small business – a business that is independently operated, not dominate in its field and meets certain size limits in terms of employees and annual sales. – Manufacturing < 100 employees – Others <50 employees

Growth of Small Business People who see a market need – mostly in the service sector Close relationship with customers

Growth of Small Business Home Businesses – Fastest growing of the small businesses – Can occur because of Information Technology Growth of Service Businesses Disappearing of Traditional Jobs Wanting to be your own boss Women wanting to escape the “boys club”

Growth of the Service Sector A result of more entrepeneurs People have – More $$$$$$$$$$$ – Less Time

Contract Labour Many businesses are looking for “experts” to help them with certain facets of their own business Saves on training and ensures quality Allows entrepreneurs to become self-employed while working for a large organization on a contract-by-contract basis

Growth of Canadian Business Growing Concern for the Environment – The Green Trend – Businesses are trying to improve the ways they do business environmentally (recycling, reducing emissions, etc) – Also, trying to find ways to come up with products/services that environmentally responsible people would consume Business Ethics and Social Responsibility – The feeling or sense that businesses are have a responsibility to do what’s best for society and for the environment

With a Partner Think of a business that exists today that would not have been successful in the year 1999 On a piece of paper – write the business and explain what current business environment has made it possible for the business to exist and why it would not have been successful in 1999 Once you are finished submit with names of partners