2. Chapter 4 Changes in Canada’s Global Business

3. Brainstorm ► Why do businesses change? ► How is the workplace today different than that of 20 years ago? ► How do you think the workplace will look in 20 years? ► How has the increase in world trade changed the way businesses operate in Canada?

4. Change ► Change is part of every day life for businesses, just as it is for people ► Business has been defined as manufacturing to meet the needs of a marketplace and to produce a profit. ► This has not changed, even though the marketplace has changed ► 3 reasons for change:  New technology  New processes  New attitudes

5. Three Reasons for Change 1)New Technology ► Inventions and innovation often create new markets  Large scale (e.g. ATM, mp3 players)  Small scale (e.g. re-sealable bags) ► Inventions  Totally new products ► Innovations  Modified new products

6. Three Reasons for Change 2)New Processes ► Changes in processes initiate change ► Manufacturing - changes made to increase speed, quality and safety ► Distribution- Reduction in intermediaries (middlemen) for many products  Dell Computers, buying products online

7. Three Reasons for Change 2)New Processes ► Accounting – instantaneous reporting of financial information ► Inventory Control - keeping track of what is available, companies anticipate and order products before they are purchased.  JIT (Just in Time) Inventory – no inventory for businesses

8. Three Reasons for Change 3)New Attitudes ► People are more open to change, experimentation ► Environmental awareness ► Health (being active, increasing knowledge about foods, etc.) ► Technology (internet, cell phones)