Planning to Compete

Abstract

The article argues that individual companies must develop comprehensive plans on how to compete in the global market, in order to stay competitive and not lose their market share. Canadian companies are at risk of losing global market share due to lack of integration into the global market and the relatively low costs in the U.S. The author discusses three action plans for Canadian businesses to consider. Firstly, it includes improvements in marketing through the support of EDPs and government agencies to become active in international trade shows and campaigns. Secondly, employee trainings practices must be improved to meet international standards. Finally, management processes must implement a more global perspective and have access to over-seas market information. The article concludes that assistances of EDPs and government agencies is crucial in these efforts to make Canadian companies internationally competitive and to enable economic development.