Business Development in Canada Essay Example | Topics and Well Written Essays - 2250 words

Business Development in Canada - Essay Example Canadian resources have been the cornerstone of business development and it is anticipated that it will remain the central avenue for the achievement of business prosperity for current and future generations. Resources and Growth of Businesses in Canada It is evident that throughout history, Canada has been endowed with various natural resources such as land, forests, minerals, fossils fuels, and fisheries. Exploitation of the above resources have been fundamental in the successful development of businesses through the provision of strategic raw materials, mineral and energy that are necessary in trade establishment and growth. The relationship between natural resource exploitation in Canada and business development shows a positive correlation where business and economic development depend on the endowment of an economy with natural resources (Taylor & Owram, 1994). Global and regional trade prior to the pre-war period relied majorly on the availability of raw materials, energy, and mineral commodities. Since Canada was capable of providing the above trade necessities through the exploitation and utilization of her natural resources, trade and business opportunities emerged. The availability of natural resources in Canada contributed to both domestic and international business development opportunities. The availability of natural resources in Canada led to the establishment and development of business opportunities hence intensified industrialization. Nearly all emerging and developing economies including Canada depended on the natural resources as the basis for economic growth achievement. Business growth and development in Canada have historically developed through the exploitation of natural resources that were found to be... This essay approves that United States corporations increased ownership of manufacturing and processing plants in Canada. Foreign direct investment by American firms was concentrated in the resource sector and in particular, the paper mills, and mining companies. The intensive incursion and successive ownership of manufacturing and processing plants in Canada by American led to the emergence of mergers as a new form of business strategy. Merger of multinational firms and local firms also concentrated control and ownership of natural resources in few hands. New economic organizations and re-orientation was evident with entry of larger firms in mainstream business operations. The market shifted from industrial capitalism to corporate capitalism where large multi-organizations began to take charge of business operations in Canada by increasing the size of economic units. This report makes a conclusion that Canada has been commonly referred to as the storehouse of resources since the past decades. Indeed Canada is endowed with various natural resources such as petroleum, fisheries, forests, and minerals among others and it boasts of a huge territory that is under natural resources. Natural resources have played a significant role in shaping up and development of business and economy of Canada. The export of staples such as pulp and paper, industrial minerals, timber, fur and agricultural products has contributed immensely to the growth of business and trade. It resulted in increased revenue and income, industrial growth and foreign direct investment initiatives.