Page 101 - Business Studies 11-12 (2006)

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THE ONTARIO CURRICULUM, GRADES 11 AND 12: BUSINESS STUDIES
Canada in the Global Marketplace
Overall Expectations
By the end of this course, students will:
• identifytheadvantages,disadvantages,andchallengesassociatedwithinternationalbusiness activity;
• explain why Canadian companies have become involved in international business;
• describe the evolution of Canada’s international business activities and relationships;
• determine how Canadians have been affected by international business activity.
Specific Expectations
The Importance of International Business
By the end of this course, students will:
– identify the advantages (e.g., increased quantity and quality of products, decreased prices, technological developments) and disadvantages (e.g., loss of jobs, increased foreign ownership of Canadian companies) of international trade for Canada;
– identify the barriers to and challenges associated with international business activity (e.g., language, tariffs, currency fluctuations).
Reasons for Involvement in International Business
By the end of this course, students will:
– explain how other countries’ needs and wants may present business opportunities for Canadian companies;
– explain how the needs and wants of Canadians may present opportunities for foreign companies;
– describe how international business can help Canadian businesses meet their goals (e.g., higher profits, greater economies of scale).
Changes in Canada’s International Business Activity
By the end of this course, students will:
– identify the types of international busi- nesses (e.g., import/export, global sourc- ing, joint ventures, strategic alliances, wholly owned subsidiaries);
– identify Canada’s current major trading partners and the products traded;
– describe how the Canadian government has worked to expand international busi- ness opportunities for Canadian companies (e.g., through trade missions, trade agreements);
– describe the impact of various trade agreements (e.g., Agreement on Internal Trade, North American Free Trade Agreement) and trade organizations (e.g., World Trade Organization, International Monetary Fund) on Canada’s interna- tional business activity.
The Effects of International
Business on Canada
By the end of this course, students will:
– describe the effects of international busi- ness activity on economic conditions in Canada (e.g., on employment levels; qual- ity, quantity, and variety of goods and ser- vices; productivity; prices; competition; technological development);
– describe the effects of foreign investment on Canada;
– identify both Canadian companies that are leaders at the international level and industries in which Canadian companies have had international success (e.g., biotechnology, telecommunications).