ipl-logo

Swimming Against The Currency Tide Eleanor Beaton

1063 Words5 Pages

In the article “Swimming against the currency tide”, written by Eleanor Beaton for the Canadian Business website, the author presents the process and challenges Canadian company Chrislan Ceramics went through in the late 1980s when they decided to sell its glassware business to join the market of selling premium ceramic handles for higher-end craft beers, and how they became successful at it. The Canadian B.C.-based organization faced competition from companies that offered cheaper products, a prized currency when dealing with exporting, as well as the challenge of changing its manufacturing process to become more efficient. This article will discuss and explore three challenges the Canadian company encountered on their way to success, focusing …show more content…

The effects of a change in the exchange rate. After entering the US market through exporting the company faced challenges regarding the value of its currency. When the value of the Canadian dollar started to rise, its exchange rate changed. “The exchange rate is the value of one nation’s currency relative to the currencies of other countries” (BUS1201 Custom Text 2012, p.71). When the value of a currency goes up against the value of another country’s currency it affects the role and the relationships a company has when exporting its products. For example, with the Canadian dollar rising in value against the US dollar the production costs for Chrislan Ceramics became higher which reflected on the products they sold, those were now more expensive comparing to American products than they were before. Which means that they could lose not only current costumers but also potential clients, losing space in the market. One solution the Canadian organization found to fight the lonnie’s rise was to start buying supplies from companies based in the USA. That way the company’s inputs and outputs would be in the same currency, the American dollar, and the impact of a higher value for the Canadian dollar would not affect Chrislan Ceramics as much. The companies ability to adapt and develop a strategy against the risks from currency volatility allowed them to maintain a competitive

Show More
Related

  • Narrative Case Study Analysis: Sawchyn Guitar

    1759 Words  | 8 Pages

    Eric Emmanuele - Mod. 8: Management Principles – A Narrative Case Study Analysis - “Sawchyn Guitar - a giant in a niche-industry.” Firm profile and Case introduction To introduce the case of Sawchyn Guitars we have to travel to Saskatchewan, Canada. The firm, Sawchyn Guitar, founded in 1972, is a small business venture in the city of Regina. The company operates in the music industry, specifically in the production of handmade mandolins and guitars, a business which Sawchyn began nearly three decades ago in his garage.

    Read More

  • Great Depression Gifts In The Wind By Irene Hunt

    573 Words  | 3 Pages

    Great Depression Gifts During the reading of No Promises in The Wind by Irene Hunt it took place during the Great Depression where there were many gifts given to two boys on the run that made big impacts on their lives. Some of the gifts could have been just giving somebody a bite to eat, or it could have been something huge like letting them sleep at your house for the night. All of these contributions made a huge impact on lives. The first major gift that the boys received was from a truck driver.

    Read More

  • Equality Exposed In Ayn Rand's Anthem

    710 Words  | 3 Pages

    In the story “Anthem” by Ayn Rand their society is much different than ours is today. They had many strict rules in which Equality broke. He was punished for his actions but escaped into the uncharted forest, one of the many transgressions you could commit. He then was planning to create his own society with Liberty and save many of his friends. I believe Equality’s society will be much different.

    Read More

  • The Pressure Of Conformity In Ayn Rand's Anthem: Equality

    520 Words  | 3 Pages

    The heroes, leaders, doctors, writers, teachers, inventors and everyone virtuous in our world exist with an ego allowing for their creation and achievement. Yet, those who are vain and take pride in themselves are shunned in modern day society. To be fully humble and willing to serve others at the drop of a dime is nearly impossible, nor desirable. So why does society have the tendency to teach selfless behaviours, when everything good on earth has come out of pride? Thomas Edison created the light bulb with dignity, knowing his invention would better mankind, exactly as Equality from Anthem did.

    Read More

  • Effects Of 9/11 On The Economy

    1327 Words  | 6 Pages

    The Aftermath of 9/11 on the New York Economy While looking at the recovery of the New York Economy we see that the terrorist attack that occurred on September 11th, 2001 considerably damaged multiple significant aspects. This attack started the extended struggle to maintain the strong economic view that the state of New York tried to withhold. Statements concerning the attack showed that the terrorists had the intention of destroying the head of the United States financial infrastructure. According to the History.com webpage “New York Stock Exchange resumes bond trading” the NYSE would become the top investment capital.

    Read More

  • Should The Federal Reserve Intervene In Foreign Exchange Markets?

    667 Words  | 3 Pages

    " (Investopedia, 2017) There are many motives why a country's fiscal authority may want to intervene in the foreign exchange market, for example, to build reserves, stabilize the exchange rate and to correct misalignments. The chief objective of foreign exchange market intervention is to control the volatility and influence the level of the exchange rate.

    Read More

  • Why Companies Should Stay In America Essay

    844 Words  | 4 Pages

    “From 2000-2010, exports of American goods jumped 66%; the export of services increased even more – 84% (Kinicki & Williams, 2012)”. Due to the rules and regulations for the companies that are settled in the United States, it is sometimes harder for the company to be successful. The United States has more safety regulations than other countries, like Mexico. The materials for companies in the United States are more expensive too. These are some of the reasons; companies have been closing their factories and businesses in the United States and moving elsewhere.

    Read More

  • Richard Graeter's Stakeholders

    259 Words  | 2 Pages

    A Stakeholder is any individual who has a vested interest in a business and is affected by the organisations decisions and strategies (Pride, Hughes & Kapoor 2015, p. 10). Therefore, the people most affected by Graeter’s decisions to take a long term view of the business rather than aim for short term profits are the family members who have a stake in the business. At the present, Richard Graeter II (CEO), Robert Graeter (vice president of operations) and Chip Graeter (vice president of retail operations) manage the business and are responsible for all the decisions regarding its operations. Graeter’s management team have chosen to forgo the opportunity for short term profits by adhering to the traditional manufacturing process used by Louis

    Read More

  • The Washwoman's Greed

    498 Words  | 2 Pages

    Death, Accidents, and Arguments all have something in common. They lead to the feeling of loss. However, from loss, people can carry on, and that happens in all of these short stories. In “Gwilan 's Harp” written by Ursula Le Guin, Gwilan loses family members and her prized harp, but she carries on to find her true self. In “The Washwoman” by Isaac Beshevis Singer, the washwoman loses her son 's love, but continues to serve the community.

    Read More

  • Jaguar Land Rover Swot Analysis

    741 Words  | 3 Pages

    3. Jaguar Land Rover SWOT Analysis a. Strength In global market, Jaguar Land Rover has been the most successful brand worldwide. The most common strength of Jaguar Land Rover is that they are the leading brand known for their luxurious design from exterior to interior.

    Read More

  • Consumerism In The Industrial Revolution

    1049 Words  | 5 Pages

    Our age has witnessed a rapid economic growth accompanied by surging consumer demand and mass production ever since about two hundred years ago during the first industrial revolution. Technological productivity highly increases, and so does the extraction of resources, production of goods and services, and consumption of various newly-developed products. Then here comes the time when consumerism begins on the stage of history--coming across the rusty old age of past desires for simplicity, it rather concentrates on “the chronic purchasing of goods and services, with little attention to their true need, durability, product origin or the environmental consequences of manufacture and disposal,” bringing about benefits as well as challenges (Verdant).

    Read More

  • How Did The British Raise Tea In The 18th Century

    1290 Words  | 6 Pages

    In the 18th century, the rights to trade at Canton had granted the company with direct imports of Chinese goods, such as tea, silk and porcelain. This increasing availability of tea from China had made the price of tea fall and made it more accessible to general public in England. The growing popularity of tea had transformed the item from luxury good into commercial commodity. This condition had encouraged the company to import more tea and thus made tea the mainstay of imports from China displacing silk by 1718.

    Read More

  • The Beattie Valentine Analysis

    173 Words  | 1 Pages

    In his 2008 film The Necktie, Jean-François Lévesque explores and goes into many deep subjects. In the film, the main character Valentine begins to experience life. Valentine likes to play the accordion, and it seems like he is involved or likes going to accordion festivals. Life in itself is hard for many people, but for this particular young man as he starts to experience his adulthood, he is excited, outgoing, and most of all, ready for his new job. As the film plays you can tell Valentine is stressed, and the film shows his character growing, as in wrinkles, bags under his eyes.

    Read More

  • Macroeconomic Factors Affecting Apple Company

    2241 Words  | 9 Pages

    For example, the sales of Apple products in US will decrease if there is a rise in the US. Because of this the purchasing power will also decrease. Hence the sales will be reduced. Hence, to reduce the rise effect, Apple has purchased itself foreign currency.

    Read More

  • The Pros And Cons Of Currency Fluctuation

    1000 Words  | 4 Pages

    The value of a currency is the worth of it as compared to or with other currencies. The value of a currency against other currencies is the exchanged rate of that currency. Exchange rate management or control in countries differs. While some practice fixed exchange rate regime, others also allow the forces of demand and supply to determine the value (price) of the currencies. Currency fluctuations normally happen in countries where they practice the free exchange rate system.

    Read More

More about Swimming Against The Currency Tide Eleanor Beaton

Open Document