Managing for Growth – Rising Challenges: 2016-2018
Rising Challenges: 2016-2018 Economic Seminar Executive Summary
Canadian economic indicators show a very mild recession to March 2016, followed by growth of 2.6 % for the balance of 2016 and continuing in 2017 and 2018.
- Global leading indicators also show nominal growth to March 2016.
- Crude oil future prices should slowly improve in 2016.
- The slump in oil prices was partially due to the rise in inventory and the levelling of oil consumption, which started in 2008.
- Canadian dollar should gradually improve with the rise in oil prices.
- Tourists are coming to Canada and Ontario.
- Housing starts continue to be strong year over year.
- Canadian retail sales shows modest growth, Toronto’s is over 6%.
Management Objectives – Preparing for the Rise Ahead By ITR
Budget for the rise…do you have enough…
- Invest in customer market research to reduce price sensitivity
- Make sure your training and retention programs are top notch
- Marketing and advertising spending increasingly effective
- Drive efficiencies with technology
- Hire sales people and leaders
- Lock in costs by mid 2016
- Expand credit offerings to garner market share
- What are you going to do to avoid 2019?
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