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What will the “new” NAFTA mean for business in Canada?
The "new" NAFTA - officially renamed as the Canada-United States-Mexico Agreement (CUSMA) in Canada, but is referred to as the United States-Mexico-Canada Agreement (USMCA) in the media - could be a benefit for businesses. While tariffs are being lifted and reduced trade talks thaw – it appears that the USMCA is a win/win/win for businesses on every side of the border. The new trade accord has free-trade when it comes to manufacturing, importing, exporting and resourcing. The USMCA sounds great, but will those rays reach areas like Northeastern Ontario? Will our resource and mining industries benefit? Also, what about our emerging technology sector? There is a lot to be figured out as this new trade deal goes through the approval process in Canada and America. Luckily, we have experts who can help! Marc Boivin, Manager at Freelandt Caldwell Reilly LLP, is an expert in the areas of organizational finance, assets acquisition, business valuation and transactions. Contact Marc to arrange an appointment regarding this topic by clicking the contact button below. Sources:
Hurricane Season Starts June 01 – Are We Ready?
It’s that time of year again … where the warm winds of summer bring us tropical storms and hurricanes. Forecasters looking at the 2019 Atlantic Hurricane Season are predicting a slower year. It looks like El Niño is currying favor and its cooling temperatures mean less frequency of storms. So far, experts expect 12 to 14 tropical cyclones this season. Of those, five to seven could become hurricanes and two to four are predicted to become major hurricanes. But as we’ve learned from the past, it takes only one storm to devastate an area. In a previous post, Michael Prietula was featured and lent his expertise to show how communities and governments need to be prepared. Michael J. Prietula (PhD, MPH) is Professor in the Goizueta Business School and a senior faculty member in Emory's Center for Neuropolicy. He is an expert in the areas of organizations is crisis and is an expert in preparedness. He is available to speak with media, simply click on his icon to arrange an interview.
Belief in the ‘Prosperity Gospel’ Does Not Turn People into Successful Entrepreneurs
But the belief that God financially rewards the faithful can fuel values linked to entrepreneurial thinking, Baylor University study finds Belief in the “Prosperity Gospel” — that God financially blesses faithful followers — does not turn individuals into successful entrepreneurs. But prosperity beliefs can fuel values linked to entrepreneurial thinking, such as power and achievement, according to a Baylor University study. However, researchers found no direct relationship between prosperity beliefs and willingness to take risks, and little connection to recognizing opportunities. Risk-taking and identifying opportunities are typical traits of entrepreneurs, according to the national study. “As revealed in our findings, a belief that God will provide financial benefit to the faithful is not enough to push someone to launch a business,” said lead author Kevin D. Dougherty, Ph.D., associate professor of sociology in Baylor’s College of Arts & Sciences. “The relationship between prosperity beliefs and starting a business is indirect and inconsistent.” The study — Prosperity Beliefs and Value Orientations: Fueling or Suppressing Entrepreneurial Activity” — is published in the Journal for the Scientific Study of Religion. For the study, researchers analyzed data from a nationally representative survey of 1,066 working adults. Their goal was to connect prosperity beliefs, human values, entrepreneurial attitudes and entrepreneurial action. They found that values — both by themselves and in conjunction with religious beliefs — are important predictors of how and whether individuals might launch a business. Participants responded to a three-item scale to measure beliefs that faith and faithful behavior lead to success at work and in business. The items included: “God promises that those who live out their faith will receive financial success;” “Believers who succeed in business are evidence of God’s promised blessing;” and “I believe faithful believers in God receive real financial benefits in this life.” Participants also responded to questions relating to The Theory of Basic Human Values, which recognizes such universal values as openness to change, achievement, security, power and benevolence. In general, “entrepreneurs tend to think differently than non-entrepreneurs, prizing achievement and self-direction while downplaying tradition and conformity,” said co-author Mitchell J. Neubert, Ph.D., professor of management in Baylor’s Hankamer School of Business. Value orientations of self-enhancement and openness to change are associated with recognizing opportunities and taking risks — entrepreneurial behaviors that correlate with creating new businesses. While prosperity beliefs by themselves show little direct impact on entrepreneurship, they do influence the impact of values and attitudes related to creating a business. Prosperity beliefs can strengthen the relationship between self-enhancement values and opportunity recognition, but they seem to reduce the relationship between openness to change and willingness to take risks. Another significant finding pertains to gender. Men and women who accept prosperity beliefs are no different in their willingness to take risks or start businesses, said co-author Jerry Z. Park, Ph.D., associate professor of sociology in Baylor’s College of Arts & Sciences. In general, risk-taking and business startups are more common among men. The study also shows that education and experience are key predictors of entrepreneurship, but those resources may be difficult to acquire for some prosperity believers because of social and economic circumstances. While individuals in that group have hope, it seems contingent on divine action rather than human action, Neubert said. “Can prosperity preachers Joel Osteen and T.D. Jakes save the U.S. economy? Probably not. But nor are they damning it,” Dougherty said. “The type of positive, self-help gospel they preach can enhance specific value orientations that are related to entrepreneurial thinking and entrepreneurial behavior.” *The research was supported by a National Science Foundation grant. ABOUT BAYLOR UNIVERSITY Baylor University is a private Christian University and a nationally ranked research institution. The University provides a vibrant campus community for more than 17,000 students by blending interdisciplinary research with an international reputation for educational excellence and a faculty commitment to teaching and scholarship. Chartered in 1845 by the Republic of Texas through the efforts of Baptist pioneers, Baylor is the oldest continually operating University in Texas. Located in Waco, Baylor welcomes students from all 50 states and more than 90 countries to study a broad range of degrees among its 12 nationally recognized academic divisions. ABOUT THE COLLEGE OF ARTS & SCIENCES AT BAYLOR UNIVERSITY The College of Arts & Sciences is Baylor University’s oldest and largest academic division, consisting of 25 academic departments and seven academic centers and institutes. The more than 5,000 courses taught in the College span topics from art and theatre to religion, philosophy, sociology and the natural sciences. Faculty conduct research around the world, and research on the undergraduate and graduate level is prevalent throughout all disciplines. Visit www.baylor.edu/artsandsciences.
Expert perspective on a trade war with China and how it could impact a Trump presidency
Trade negotiations between the United States and China have continued to deteriorate over the last few weeks. In efforts to pressure the Chinese to make reforms to trade-related issues such as forced technology transfer and intellectual property rights, the United States has raised tariffs on nearly all Chinese exports. While there is a consensus among experts that these trade issues harm U.S. producers and must be dealt with, there is not universal agreement that a trade war is the best way to make it happen. Who will feel the effects? It is apparent that both consumers and producers in the U.S. will feel the effects of the trade war. Producers will not be able to absorb the increased costs from the raising tariffs and will need to pass them along to consumers. Consumers will begin to see the prices increase on a host of retail goods, such as clothing and apparel, toys, and home goods. Partners replaced? In addition, as the Chinese retaliate with increased tariffs on U.S. exports, such as agricultural goods, producers from other countries with lower tariffs are stepping in to take the place of the U.S. exporters. For example, Brazilian soybean producers are more than happy to sell their product to China at a lower cost. Once lost, it may be difficult for U.S. farmers to regain these important Chinese markets. A political price to pay? It appears that the effects of the trade war may hit the Trump administrations base, in agricultural and manufacturing regions, disproportionately. However, the administration may see the trade war as beneficial to Trump’s 2020 reelection campaign, as Trump is being perceived as being tough with the Chinese and holding them accountable to unfair trade practices. That appears to resonate with his base. However, it remains to be seen how long his base will continue to support this approach as both producers and consumers continue to feel the economic pinch of the growing trade war with China. There’s a lot to know about the short and long-term impacts of a trade war with China and that’s where or experts can help. Matt has taught business and marketing courses at Saint Mary’s University of Minnesota since 2008. Prior to Saint Mary’s, he worked in both the banking and the non-profit sectors, most recently with a non-governmental organization (NGO) with operations in more than a dozen countries. Matt is an expert in political and economic development and is available to speak with media. Simply click on his icon to arrange an interview.
Getting the facts on carbon tax for small to medium-sized businesses.
The carbon tax has become an election issue, a matter before the courts and the subject of coast to coast political talk. Each province and federal party are seemingly taking a side and spreading their own messaging on what the carbon tax means for small to medium-sized businesses. Heading into summer and this year's top issue is the carbon tax. Some owners claim that the rebates are not enough to cover the combined shipping, storage, services or other escalating costs. On the other hand, some are stating that's not the case, in fact, the new incentives are helping them increase business and create jobs. Do you know all the facts about the carbon tax? We have an expert that can help answer how much is it, who is paying and how is it impacting your business in Northern Ontario and across the province? John Greenidge, Manager at Freelandt Caldwell Reilly LLP, is an expert in the areas of Indirect Tax, Federal Sales Tax (GST/HST), Provincial Sales Tax (PST/RST), Taxation and Accounting services. To contact John, simply click contact John below to arrange an appointment regarding this topic. Source:
Trump, tariffs and the long game
He said he’d get tough on China and make sure America was getting the better end of any trade deal – and President Trump seems bound and determined, despite the critics and advice from his own cabinet, that massive tariffs and a trade war with China is a good thing for America. Last week Trump more than doubled tariffs on $200 billion in Chinese goods. China reacted with tariffs on American agricultural and other products. The response, Trump is now looking at approximately $300 billion in import levies on more Chinese goods. As far as trade wars go, this one could be epic in its scale and economic proportions. But who will blink first, who will win and ultimately – who is paying the costs and taking on the burden of all the financial collateral damage at the end of the day? Is this a matter of short-term pain for long-term gain for America’s economy? Or is this political posturing that will at the end of the day hurt the country’s bottom line? There are a lot of questions to be asked and that’s where two of the experts from Cedarville can help. Dr. Glen Deurr's research interests include nationalism and secessionism, comparative politics, and international relations theory. Jeff Haymond, Ph.D. is Dean, School of Business Administration at Cedarville ad is an expert in finance and trade. Glen and are both available to speak to media regarding the current trade war with China – simply click on either expert’s icon to arrange an interview.
Just how big of a deal is AI? At this year’s Directions 2019, IDC Canada experts will be speaking to a variety of topics that are reshaping the digital visions and tactics modern companies are using to compete. Explore how AI encompasses a huge spectrum of technologies for the enterprise and how at the center of it all is data. On May 02, join Warren Shiau, Research Vice-President with IDC Canada as he presents a highly anticipated talk on AI: Process Animation at 11:20 AM. Warren will look at what’s being adopted by Canadian enterprise under the banner of AI; and why AI can generate significant business value even in the absence of large data science teams and enterprise-wide high-quality data. Deep learning may rule the future but “small AI” targeting things like process automation rules the day. Organizations are rethinking digital transformation – join us May 02 to learn more. Location: St. James Cathedral Centre: Snell Hall, 65 Church Street | Toronto Date: May 2, 2019 Time: 8:00 AM - 8:30 AM - Registration & Networking Breakfast | 8:30 AM - 3:30 PM Conference Program Register Today before it's too late! If you're a member of the media and would like to attend this event, please contact Cristina Santander at csantander@idc.com
Transparency from charities about how funds are used builds trust and increases giving
BLOOMINGTON, Ind. -- Charitable and humanitarian organizations are increasingly tapping into a $30 billion crowdfunding market, not only to raise funds but to build donors' trust by being more transparent, according to research from Indiana University's Kelley School of Business. Certified charities like the American Red Cross regularly use crowdfunding after hurricanes and wildfires. But other, often local, organizations that are quickly created after emergencies can compensate for their lack of government certification by posting frequent updates about how funds are being used. Authors of the paper are Jorge Mejia, assistant professor of operations and decision technologies; Alfonso Pedraza-Martinez, associate professor of operations and decision technologies and Grainger Faculty Fellow; and Gloria Urrea, a visiting scholar of operations and decision technologies. Mejia, the paper's lead author, noted its timeliness in light of several recent fraud cases involving charitable giving, such as the college admissions scandal and questions about the charitable status of politicians' private foundations and religious organizations. "Our paper tackles some of these challenges head on by providing a way to increase the transparency of these organizations online," he said. The paper's findings also have implications for donors, who need to pay attention to how charities are using donations, as shown through regular operational updates and other communication and certification. "Our results indicate that individuals and humanitarian organizations willing to start crowdfunding campaigns benefit from transparency," the researchers said. "As updates have a positive effect on donations, organizations can increase funding by keeping donors informed on a regular basis about the campaign's progress." The process of receiving approval from the Internal Revenue Service as a certified 501(c)(3) tax-exempt organization can take months, long after the immediate needs of a disaster have passed. In the meantime, local organizations accept donations to help with recovery efforts immediately using crowdfunding. "Donations increased both when campaigns provided frequent updates about the work of the charity and when campaigns were certified," the Kelley professors said. "Strikingly, we found that the size of the positive effect derived from operational transparency -- from communications work -- is much greater than the size of the effect of conventional transparency, from being a certified tax-exempt charity. "But not all updates are the same. Operational transparency increases the financial benefits of updates," they added. "Campaign organizers should focus their efforts on posting work-related updates to describe how the campaign is achieving its objective." Researchers collected data from a large online platform for charity crowdfunding and analyzed nearly 108,000 emergency campaigns over a seven-year period. Just over half of the campaigns posted at least one campaign update, and just 9 percent of the campaigns were certified. Each work-related word in updates increased donations on average by $65 per month, while being a certified campaign raised funds on average by $22 a month. The research article, "Operational Transparency on Crowdfunding Platforms: Effect on Donations for Emergency Response," appears online in the journal Production and Operations Management.
Is it Time to Rethink Digital Transformation? Join our experts May 02 to Find Out!
Organizations are rethinking digital transformation. After some high-profile failures, innovation being treated as a sideshow, and elusive ROIs, organizations are reshaping their digital visions and their tactics for getting there. With greater clarity about what the future enterprise will look like and what it will take to compete in redefined industries, companies are pivoting away from digital for the sake of innovation to digital for the sake of the business. Join us and catch Dave Pearson, Research Director and Team Lead for IDC Canada's Infrastructure Solutions Research Group presenting: ‘The New Infrastructure Data World ’ at IDC Directions 2019 in Toronto on May 02. Data growth and capacity concerns continue to the be the number one stress on data centers in Canada. At the same time, IT is expected to support Digital Transformation (DX) and new business initiatives at nearline speed. What will your next generation of infrastructure need to look like to support the variety of workloads, applications, and data sources your organization requires, from core to cloud to edge? Find out in Dave's breakout session at IDC Directions in Toronto Location St. James Cathedral Centre: Snell Hall 65 Church Street | Toronto Date May 2, 2019 Time 8:00 AM - 8:30 AM - Registration & Networking Breakfast 8:30 AM - 3:30 PM Conference Program Register Today before it's too late! If you're a member of the media and would like to attend this event, please contact Cristina Santander at csantander@idc.com
Goizueta information systems and operations management professor Benn Konsynski on the 30th birthday of WWW: "... Many of us were on the internet before WWW -- researchers, academic, military, libraries, etc. The operating protocols on top of the basic Internet protocols were useful, but often specialized. The world of commerce and social interchange needed a simple standard to offer creative outlet beyond specific applications and closed systems. "Sir Tim Berners-Lee brought that with common protocols for describing content (HTML), moving/referencing content (HTTP) and browser technologies for viewing and manipulating content. Over the next few years, commerce and social exchange exploded after these protocols took root. By 1995 the internet world opened to business and the general market with expectations and promise."
