MEDIA: CBC News Network Weekend Business Panel (November, 2018)
- Bombardier’s layoffs and selloffs: The company has struggled in recent years and found itself in the news again this week; announcing 5,000 layoffs and a couple of selloffs as part of ongoing transition efforts. With Canadian taxpayers having funded the company to the tune of over $1 billion, can any positive developments be expected?
- Bowring and Bombay File for Creditor Protection: Disruption in the retail space continues, this time, revisiting two longstanding Canadian brands. Do they have a future?
- Amazon’s Toy Catalogue: Reminiscent of years past, Amazon has its own printed toy catalogue for the Holiday season; what’s behind this move?
Here’s a few thoughts:
Transition is never easy (or quick), but Canadian taxpayers have probably heard more than their share of less than stellar news about Bombardier. The reality is that this large and diverse company didn’t find itself off the rails (pun intended) overnight, and unwinding a bad situation can take far more time, angst, and money than most would expect. As is the case with any company, it’s critical to understand the core business, one where success can be generated on a competitive and financially favourable basis. As manufacturing technology evolves, companies are challenged to be increasingly efficient and that often involves shedding or re-positioning jobs. If Bombardier is to find success, it must have a well-designed plan that focuses in the right product and service areas in an efficient and competitive manner; time will tell if this can be achieved, or if the outcome will be of a more somber nature.
In an intensely competitive retail marketplace that has evolved significantly, many companies have found themselves left behind; Bowring and Bombay are the latest, having faced similar circumstances only a few years ago. Retailers must understand their target market well and take the necessary steps to connect and engage with them in an effective manner. These companies have not kept up with the rapid pace of evolution, which might spell the end for these Canadian brands. Retrenching to fewer stores or trying to play online “catch up” with a customer that might not be receptive could be the age old story of finding and implementing a new strategy too late.
And, finally, Amazon’s printed toy catalogue is all about the memories and nostalgia of many childhoods, as well as reaching out to those who shop online less frequently. Using an approach that makes online engagement easy just might be the most timely “pull” strategy we’ve seen in a while; kids just need to put down their tablets and iPhones long enough to flip through the pages!
Thanks for watching and see you again soon, CBC!
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