Final Answer:
As a business consultant, I recommend that Bombardier focuses on strategic partnerships and diversification to enhance its market presence and reduce financial risks. Canadian Tire, on the other hand, should invest in expanding its e-commerce capabilities and strengthening its online presence to capitalize on the growing trend of digital retail.
Step-by-step explanation:
In the case of Bombardier, the recommendation stems from a thorough analysis of its current market position and challenges. The company has faced financial difficulties, and its traditional focus on transportation might be limiting. By forming strategic partnerships with established players in related industries, Bombardier can leverage synergies and gain access to new markets. Diversification, perhaps into emerging technologies or sustainable transportation solutions, could also mitigate financial risks. Calculating potential returns on investment and risk factors would be crucial in determining the optimal strategic moves for Bombardier.
On the other hand, for Canadian Tire, the suggestion to invest in e-commerce is based on the changing consumer landscape. With the increasing popularity of online shopping, a robust digital presence is essential for sustained growth. Calculating the potential market share gain from an improved online platform, factoring in the cost of implementation, and projecting the return on investment would provide a quantitative basis for this recommendation. Strengthening the online channel aligns with current consumer behaviors and positions Canadian Tire for long-term success.
In conclusion, the recommendations for both Bombardier and Canadian Tire are strategic responses to their specific challenges and opportunities. Detailed analysis, including financial projections and risk assessments, underpins these recommendations, ensuring a comprehensive and well-informed business strategy.