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Exploring Canada Shifting Business Landscape

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Canada Business

Canadian businesses are facing a host of new trends that are reshaping how they operate and compete. From the rise of the experience economy to new rules of competition, businesses need to stay on top of these shifts in order to remain competitive and relevant in 2023.

 

The Rise of the Experience Economy

Gone are the days when consumers simply wanted products and services; now, they want experiences. This is known as the “experience economy” – an economic shift toward experiential purchases rather than tangible products or services.

In this new economy, businesses must focus on creating unique experiences for their customers if they want to stand out from their competitors. By offering interactive experiences such as virtual events or online classes, businesses can curate memorable moments for their customers that will help them build loyal relationships with them in the long run.

 

Meeting the Demands of the Future Consumer

The future consumer is more demanding than ever before – they expect personalized customer service, real-time feedback, and seamless digital interactions with brands. To meet these demands, companies must invest in technology such as AI and automation to ensure they provide a seamless customer experience across all touchpoints.

Furthermore, companies must ensure they act ethically and responsibly when it comes to data privacy and security – this will give customers peace of mind that their data is safe when interacting with your brand.

 

New Rules of Competition

The rise of e-commerce has changed the rules for competition for businesses in Canada – traditional brick-and-mortar stores must now compete with online stores which often have lower overhead costs and better access to global markets.

To stay competitive, businesses must focus on providing a unique customer experience by leveraging technology such as augmented reality (AR) or virtual reality (VR).

Additionally, businesses should focus on developing omnichannel strategies that allow them to reach customers across all channels – from physical stores to online marketplaces such as Amazon or eBay.

 

Exploring the Latest Trends in Canadian Manufacturing

The manufacturing sector is vital to Canada’s economy and future growth. To stay competitive and remain successful, Canadian manufacturers must understand the latest trends in the industry.

 

Transitioning to Industry 4.0 & 5.0

By utilizing these technologies, manufacturers can become more efficient by collecting data on production processes and using that data to optimize their operations.

In addition to this, Industry 5.0 focuses on creating a unified platform that combines different production cycles into one seamless process while also incorporating concepts such as artificial intelligence (AI) and machine learning (ML). This type of technology integration allows for faster production times, improved product quality, and less waste overall—all leading to increased efficiency within the manufacturing sector in Canada.

In order to transition into either Industry 4.0 or MaaS successfully, there are several key factors that must be taken into consideration first before making any changes or investments in new technology or services:

 

  • Understanding current processes :

It’s important for manufacturers to assess their current processes and identify where potential improvements could be made before investing in new technologies or services; this will help businesses to ensure that any changes made are based on actual needs rather than guesswork alone.

 

  • Implementing necessary changes :

Once an assessment has been completed and potential areas where improvements could be made have been identified, then steps should be taken towards implementing those changes – whether it’s investing in new technology or outsourcing certain components of production – in order to ensure maximum efficiency across all parts of the business’s operations going forward.

 

  • Staying up-to-date with industry standards :

Finally, it’s important for manufacturers to stay informed about industry standards so they can remain competitive with other businesses operating within their sector; this includes staying abreast of technological advancements that could provide additional opportunities for improvement within their own operations as well as monitoring how other businesses are adapting their processes accordingly too so they don’t get left behind in terms of innovation or efficiency gains.

 

Manufacturing as a Service

Manufacturing as a Service (MaaS) is another trend that is becoming increasingly popular among Canadian manufacturers due to its ability to help reduce costs significantly over traditional methods of manufacturing products.

MaaS allows companies to outsource certain components of their production process such as inventory management or supply chain optimization tasks, resulting in fewer resources being spent on non-core activities while still allowing them access to high-quality services from experienced professionals who specialize in those areas.

This can be especially beneficial for smaller businesses that may not have the internal resources available for certain tasks but still want access to the same level of expertise that larger companies have at their disposal.

 

Conclusion:

It’s clear that there are many trends affecting Canadian businesses today – from meeting the demands of future consumers to staying ahead of shifting rules for competition. However, by understanding these trends and investing in technology, Canadian businesses can stay ahead of the curve and succeed in 2021 and beyond! By focusing on innovative customer experiences through technologies or leveraging omnichannel strategies, Canadian businesses can remain competitive despite changing industry dynamics.

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Half of Ontarians support union’s goals in ongoing LCBO strike: poll

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Fewer than one-third of Ontarians say they want the provincial government to intervene to end the 12-day strike at Ontario’s main liquor retailer, while about half are supportive of the striking union’s demands.

That’s according to a new Leger poll that asked if the government should use binding arbitration or legislation to ensure LCBO stores open as soon as possible.

Twenty-nine per cent of respondents supported such a move, while 44 per cent opposed it. The poll also asked if respondents support the union’s stated goals, including wage increases and more permanent positions. Just under half, 49 per cent, answered in the affirmative, while 25 per cent said they were not supportive.

Awareness of the strike in Ontario is high, according to the poll, with 89 per cent saying they knew about it, though only 15 per cent reported being personally affected. The Leger poll of 601 residents, conducted last weekend, can’t be assigned a margin of error because online surveys are not considered truly random samples.

Approximately 10,000 workers at the LCBO walked off the job on July 5 after negotiations broke down.

The union representing the workers said the sides were headed back to the bargaining table Wednesday.

The Ontario Public Service Employees Union has said the main issue is the province’s alcohol expansion plans that would see ready-to-drink cocktails sold outside LCBO stores — a move it maintains poses an existential threat to the LCBO and could lead to major job losses.

Colleen MacLeod, chair of the union’s LCBO bargaining unit, has said the plan would “mean thousands of lost jobs, fewer hours for the 70 per cent of LCBO retail workers who are casual and struggling to make ends meet, and hundreds of millions in dollars of lost public revenues drained from health care, education and infrastructure.”

The LCBO, a Crown corporation, nets the province $2.5 billion a year.

On Monday, the Ontario government sped up its expansion plan. The 450 stores across Ontario already licensed to sell beer, wine and ciders will be able to start ordering coolers and seltzers on Thursday and sell them as soon as they arrive.

The province has said it does not want to privatize the LCBO, and that the expansion is about giving people more choice and more convenience to buy alcohol.

Stephanie Ross, an associate professor in the school of labour studies at McMaster University, said Premier Doug Ford doesn’t have a great reputation when it comes to labour, given the high-profile disputes in recent years with health-care and education workers. And he’s faced accusations of making policy moves that benefit friends in the private sector, a criticism that’s been levied against him in the LCBO dispute.

“There is a base of support for the union’s message here, both in terms of the working conditions that they’re trying to fight to improve, and in terms of the role that the LCBO plays in funding public services in the province,” she said.

But the public may not be as sympathetic to LCBO workers as it has been to some others, like in the Metro grocery workers’ strike last year, she said — a relatively straightforward fight by low-paid workers struggling to afford food against the industry being partially blamed for food prices.

“And so in the depths of a kind of historic cost-of-living crisis, I think it was easier to feel sympathy for such workers in terms of really having to fight to make up lost ground.”

That means the LCBO union has its work cut out to try and convince the public of its cause, said Ross, especially when consumers are already divided on the liquor privatization issue in the first place. She thinks the union is doing a good job, however, of arguing the case for the LCBO as a public asset that helps fund important public services.

Larry Savage, a professor in the labour studies department at Brock University, said it’s clear both the union and the Ford government “are working hard to win over the public to their respective positions.”

The union has a “potentially powerful strategy” to gain public support, but it’s not a surefire one, he said in an email.

This strategy “requires people to connect the dots between the privatization of the LCBO and the loss of a critical revenue stream that contributes billions to public services like health care and education.”

Meanwhile, the government’s strategy has been to try and leverage consumer frustration over the strike in order to drive more support for increased privatization, said Savage.

“It’s a high-risk strategy because a heavy-handed approach can sometimes backfire and garner greater sympathy for the workers and their cause.”

In the Leger poll, 32 per cent of respondents said they looked for alternative locations to buy alcohol due to the strike, and while 15 per cent said they were concerned the strike could cause them to spend more money on alcohol.

Savage said while many consumers are likely inconvenienced, he also thinks most Ontarians are suspicious of the premier’s intentions when it comes to the LCBO: “It’s a classic case of private profits over the public good.”

This report by The Canadian Press was first published July 17, 2024.

 

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Half of Ontarians support union’s goals in ongoing LCBO strike: poll

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Fewer than one-third of Ontarians say they want the provincial government to intervene to end the 12-day strike at Ontario’s main liquor retailer, while about half are supportive of the striking union’s demands.

That’s according to a new Leger poll that asked if the government should use binding arbitration or legislation to ensure LCBO stores open as soon as possible.

Twenty-nine per cent of respondents supported such a move, while 44 per cent opposed it. The poll also asked if respondents support the union’s stated goals, including wage increases and more permanent positions. Just under half, 49 per cent, answered in the affirmative, while 25 per cent said they were not supportive.

Awareness of the strike in Ontario is high, according to the poll, with 89 per cent saying they knew about it, though only 15 per cent reported being personally affected. The Leger poll of 601 residents, conducted last weekend, can’t be assigned a margin of error because online surveys are not considered truly random samples.

Approximately 10,000 workers at the LCBO walked off the job on July 5 after negotiations broke down.

The union representing the workers said the sides were headed back to the bargaining table Wednesday.

The Ontario Public Service Employees Union has said the main issue is the province’s alcohol expansion plans that would see ready-to-drink cocktails sold outside LCBO stores — a move it maintains poses an existential threat to the LCBO and could lead to major job losses.

Colleen MacLeod, chair of the union’s LCBO bargaining unit, has said the plan would “mean thousands of lost jobs, fewer hours for the 70 per cent of LCBO retail workers who are casual and struggling to make ends meet, and hundreds of millions in dollars of lost public revenues drained from health care, education and infrastructure.”

The LCBO, a Crown corporation, nets the province $2.5 billion a year.

On Monday, the Ontario government sped up its expansion plan. The 450 stores across Ontario already licensed to sell beer, wine and ciders will be able to start ordering coolers and seltzers on Thursday and sell them as soon as they arrive.

The province has said it does not want to privatize the LCBO, and that the expansion is about giving people more choice and more convenience to buy alcohol.

Stephanie Ross, an associate professor in the school of labour studies at McMaster University, said Premier Doug Ford doesn’t have a great reputation when it comes to labour, given the high-profile disputes in recent years with health-care and education workers. And he’s faced accusations of making policy moves that benefit friends in the private sector, a criticism that’s been levied against him in the LCBO dispute.

“There is a base of support for the union’s message here, both in terms of the working conditions that they’re trying to fight to improve, and in terms of the role that the LCBO plays in funding public services in the province,” she said.

But the public may not be as sympathetic to LCBO workers as it has been to some others, like in the Metro grocery workers’ strike last year, she said — a relatively straightforward fight by low-paid workers struggling to afford food against the industry being partially blamed for food prices.

“And so in the depths of a kind of historic cost-of-living crisis, I think it was easier to feel sympathy for such workers in terms of really having to fight to make up lost ground.”

That means the LCBO union has its work cut out to try and convince the public of its cause, said Ross, especially when consumers are already divided on the liquor privatization issue in the first place. She thinks the union is doing a good job, however, of arguing the case for the LCBO as a public asset that helps fund important public services.

Larry Savage, a professor in the labour studies department at Brock University, said it’s clear both the union and the Ford government “are working hard to win over the public to their respective positions.”

The union has a “potentially powerful strategy” to gain public support, but it’s not a surefire one, he said in an email.

This strategy “requires people to connect the dots between the privatization of the LCBO and the loss of a critical revenue stream that contributes billions to public services like health care and education.”

Meanwhile, the government’s strategy has been to try and leverage consumer frustration over the strike in order to drive more support for increased privatization, said Savage.

“It’s a high-risk strategy because a heavy-handed approach can sometimes backfire and garner greater sympathy for the workers and their cause.”

In the Leger poll, 32 per cent of respondents said they looked for alternative locations to buy alcohol due to the strike, and while 15 per cent said they were concerned the strike could cause them to spend more money on alcohol.

Savage said while many consumers are likely inconvenienced, he also thinks most Ontarians are suspicious of the premier’s intentions when it comes to the LCBO: “It’s a classic case of private profits over the public good.”

This report by The Canadian Press was first published July 17, 2024.

 

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Being Angry at Employers for Looking out for Their Interests Won’t Land You a Job

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The current job market is a stark reminder of a fundamental truth: The employee-employer relationship is inherently asymmetrical. This asymmetry is the default of the employer taking on the risk of investing capital while employees only invest their time. Employers have the upper hand, and the right to work ultimately depends on their decisions, as evidenced by layoffs.

 

Employees don’t own their jobs; their employers do.

 

In the face of rejection after rejection, job seekers become frustrated and angry, blaming employers for being unreasonable, greedy, or only looking out for their interest, as if their employers are in the business of hiring people. This mindset is counterproductive and will only hinder your ability to land a job.

 

I don’t think job seekers are angry with employers. I think they’re angry because they were in demand, and now they’re not. Recently, the tech industry has had more than its share of layoffs. Most likely, until now, those laid off had only experienced being highly sought after. A shift of this kind requires humility, which is lacking amid all the anger directed at employers.

 

When making a hiring decision, the employer rightfully prioritizes its interests over those of the job seeker. Employers seek candidates who can deliver value and contribute to their organization’s success. In contrast, job seekers look for roles that fit their skills, experience, and career goals. Employers looking after their interests aren’t wrong or nefarious; it’s simply smart business.

 

Employers’ self-interests are not your enemies. Instead, use them to your advantage by identifying them and positioning yourself as the solution. Demonstrating how you’ll support the employer’s interests will turn you from a generic candidate into an asset.

Three strategies can be used to align your self-interests—presumably landing a job—with those of an employer (Envision, “You scratch my back, and I’ll scratch yours.”):

 

Understand the employer’s priorities, the obvious being to generate profit.

 

Job seekers tend to focus solely on the job description and the required qualifications and overlook the company’s overall goal(s). Knowing (read: researching) the company’s goals will enable you to explain how your skills and experience can support their goals.

 

Suppose you’re applying for a marketing coordinator role at a rapidly growing tech startup. The job posting lists key responsibilities, including managing the company’s social media accounts, creating content, and planning events. However, after studying the company holistically, you find, like most companies, it prioritizes gaining new customers.

 

With this knowledge, you can position yourself as a candidate who can help drive that growth by emphasizing, using quantifying numbers (e.g., In eight months, increased Instagram followers from 1,200 to 32,000.) in your resume, LinkedIn profile, cover letter and during your interview, your experience developing high-performing social media campaigns attracting new leads for previous employers. You could mention your innovative ideas for using user-generated content to raise brand awareness or partnering with industry influencers. The key is to show that you possess the required functional skills and understand the company’s overall goals and how you can help achieve them.

 

Explain how you’ll make your ‘to-be’ boss’s life easier.

 

Your ‘to-be’ boss is juggling a million competing priorities, budget constraints, and pressure from their boss to optimize their team’s productivity.

 

Position yourself as the candidate who’ll simplify your ‘to-be’ boss’s life, and you’ll differentiate yourself from other candidates. During the interview, make it a point to understand the specific pain points and challenges your ‘to-be’ boss is facing—I outright ask, “What keeps you up at night?”—and then present yourself as a solution.

 

Perhaps the department has a retention problem. You could tell a STAR (Situation, Task, Action, Result) story, demonstrating your ability to build strong cross-functional relationships and create a positive work culture that boosts employee engagement and loyalty.

 

Educating your prospective boss that by hiring you, they’ll have one less headache is a hard-to-ignore value proposition.

 

Show how their success is equal to yours.

 

Hiring boils down to finding candidates who can drive measurable business results. Don’t rely solely on your skills and experience. Outline how you can deliver tangible benefits to the employer. Quantify the value you’ve brought to previous employers.

 

If you’re applying for a sales role, share data on the year-over-year revenue growth, client retention rates, and customer satisfaction scores you achieved in your previous positions. Quantify the value you brought to the organization, then explain how you can replicate or exceed that level of performance in the new role.

 

Say you’re interviewing for an IT support position. In addition to highlighting your technical expertise, again using a STAR story, highlight your expertise in streamlining processes, reducing downtime, and providing exceptional customer service. Tie those accomplishments back to the employer’s need to maximize productivity and minimize disruptions.

 

The key is to make a compelling case that the employer also succeeds when you succeed.

 

It’s understandable to feel frustrated by rejection, but the most successful candidates recognize that employers have legitimate business priorities. Identifying an employer’s interests and showing how you can support them will improve your chances of landing a job. Stop expecting an employer to save you. Save an employer.

_____________________________________________________________________

 

Nick Kossovan, a well-seasoned veteran of the corporate landscape, offers “unsweetened” job search advice. You can send Nick your questions to artoffindingwork@gmail.com.

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