Faculty of management Essay Example | Topics and Well Written Essays - 500 words

Faculty of management - Essay Example gibe to her, Canadian businesses have stagnant maturement because they not only lack resources but they have alike not enough motivation for growth. Canadian Banks have conservative notions about businesses that discourage people to be creative. She nevertheless thinks that some of the organization initiatives like Canada Export Development and Sustainable growing Technologies have further businesses to exploit mod opportunities of growth in emerging economies. I agree with Allen that businesses must innovate to make out and expand. But at the same time, government must create facilitating surround for growth.In the current environment of advancing technology and globalization, business has become highly competitive. Moreover, process of globalization has changed the dynamics of global business. emergent markets of South East Asia, Middle East and BRIC countries offer huge potential for businesses. They are high growth markets with high i ncome where demand for new product can be easily created (Hook, 2001). This is a very central factor that must be exploited by the business community. Growth of business contributes to the growth and development of nations. Thus, it becomes imperative that businesses must constantly make efforts to expand and grow. R&D facilities promote innovation of ideas, new product development and innovation in business processes for greater productivity. Furthermore, innovative approach and resource base strategy provide the firms with unique value creating capabilities that give them distinct advantage against their rivals. As such, they emerge as critical elements that facilitate businesses to compete successfully and grow even in adverse circumstances (Coombe and Georghiou, 2002).Indeed, government initiatives are major incentives for businesses to look for new opportunities and motivate them for diversifying their interests. But unless and until they are backed by tributary environment of growth,