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CANADA.
Term Paper ID:21659
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Essay Subject:
Analyzes economics, politics, govt. & legal issues, health care, international risk management, comparison with U.S., related to selection of export market.... More...
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Paper Abstract:
Analyzes economics, politics, govt. & legal issues, health care, international risk management, comparison with U.S., related to selection of export market.
Paper Introduction:
CHOOSING AND EXPORT MARKET
Introduction
This research examines the issues and problems related to the selection of an export market. Where illustrations such issues and problems are used, Canada is cited as the example. The objective of this research, however, is not to develop a recommendation favorable or unfavorable with respect to the selection of Canada as an export market. Rather, the objective of this research is to identify and explain the factors that typically are included in such an analysis.
Comparative Business Practices,
Business practices are considered in relation to marketing, production and management, competition, employment, and investment, and energy and the environment. Compatibility between the business
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Statistics Canada. (London, England: PenguinBooks, Ltd., 1992), 176.[2 ]2 Statistics Canada. The FTA between Canadaand the United States and NAFTA assure that geographic factors are not animpediment to American exports to Canada. Ziegler. Riskfinance refers to the provision of sufficient funds to meet loss situationsif they occur by use of both internal and external financial resources.The most commonly used external financial resource in this context isinsurance. By contrast,American investment in Canada declined, as production shifted south, andCanadian investment in Canada declined from prior levels. This fact may be illustrated through a consideration of healthcare. Anglophone Canada has always sought francophone assimilation onterms which would treat the francophones as virtual immigrants to Canada,and, for their part, the francophones attempt to treat anglophones in asimilar manner within the Province if Quebec. Dye, T. World Development Report. Ziegler, The Irony of Democracy Monterey,California: Brooks/Cole Publishing Company, 1987, 97.[17]17Dye and Ziegler, 1 1.[18]18Dye and Ziegler, 1 6.[19]19K. Universality means that all persons are entitled toidentical benefits, regardless of their station in life. Production and Management Systems As developed economies, both Canada and the United States haveproduction sectors that are characterized by high levels of sophisticatedproduction and management techniques.[2] Although both Canada and theUnited States find themselves in a catch-up game with Japan and Germanywith respect to production and management systems, they are both leaguesahead with respect to the production and management systems found in mostother countries. Martin'sPress, 1994. Psychologically, the greatest Canadian deficit in terms of nationalpower is the failure of the country to develop a single nationalidentity.[19] The primary problem in the context of developing a singleCanadian identity appears to be the incorporation of Quebec into a nationalCanadian society; however, the incorporation of Canada's native peoples isof equal significance. The unemployment rate is significantly higher in Canada than it is inthe United States.[4] Social services for the unemployed are superior inCanada to those in the United States. The effects--positive or negative--of the goods andservices tax depends upon one's perspective. Symonds, William G. I. History of Canada, 4th ed. Risk control refers to activities intended toaccomplish the reduction or elimination of risk or loss within propereconomic restraints and through careful procedures and practices. Most organizations rely on insurance for a highproportion of their potential losses. Financial Markets: TheAccumulation and Allocation of Wealth, 5th ed. Healthcare delivery in Canada is a provincial responsibility; however, thefunding for the system is shared by the provinces and the federalgovernment, with the federal government making the largest contribution ineach province. Martin'sPress, 1994), 145.[13]13D. In Canada, health care costs have been rising as they have in theUnited States. It ispossible for physicians to opt out of the public health care system, and toaccept only private patients. The general approach to society by Canadians differs from that ofAmericans. Canadians, however, are free to selectthe physician of their choice. In the environmental sector, both Canada and the United States havestrong environmental legislation in place.[9] The United States,particularly under both the Reagan and Bush Administrations, often wascriticized for its approach to environmental protection. Fee schedules are established by the provincial governments. While most of the Canadian population is fearful of beingabsorbed by the United States (culturally, if not physically), mostCanadians also feel a greater affinity with the United States than with anyother single country other than their own. Poor Americans are not. The francophone minority in Canada (primarily Quebec) has not beenfully assimilated, nor are there in 1994 or have there ever been anyindications that francophones desire an assimilation with anglophoneCanada. R., and H. "Trade Blockade." Maclean's, 1 July 1994, 34-35. Efficient and widespread distribution networks are wellestablished in both Canada and the United States. The list of such factors is limitless, as are the changes in thesignificance of the factors over time. Health care is a universal benefit in Canada. Competition, Employment, and Investment Both Canada and the United States have effective antitrust legislationdesigned to enable the national governments in the two countries topreclude combinations that may be detrimental to competition.[3] On theother side of the coin, Canada more so than the United States has majorcrown (government-owned) corporations operating in the economy--PetroCanada, Air Canada, and the Canadian National Railway are some examples.Since 1984, however, the Canadian government has pursued a privatizationpolicy, the results of which are reducing the role of crown corporations inthe Canadian economy. Canada attempted to play aleadership role in the development of Commonwealth policy towards theRepublic of South Africa. Robinson, R. The principal market and competitive factors affecting the exportplanning of a corporation include (a) population demographics, (b) productlife cycles, (c) product substitute availability, (d) strategic changes bycompetitors, and (e) the entry and exit from markets and industries ofcompetitors. Theseelements are exposure identification, risk evaluation, risk control, riskfinance, and risk management administration. In mostinstances, it is an unrealistic expectation to attempt to eliminate risk.Risk control policies and measures, therefore, should be designed tominimize risk. In one sense, risk is considered to be a measure of uncertainty. The state of theCanadian economy is strong in 1994.[1 ] Canada is one of the world's industrial market economies.[11]Further, among the industrial market economies, Canada is one of the Groupof Seven major economic powers.[12] Through the 195 s, the Commonwealth played a major economic role forCanada, although the United States has always been Canada's largest tradingpartner. Canada also has developeda strong reputation as a peace keeper in the world. "Financial Expansion Continues." Financial Times, 3 July 1994, 82. Insuring against the possibility of loss is not a cost-free exercise.Thus, there may be a cost associated with risk, whether or not a firminsures against it. "Natural Gas Drilling Is Booming North of theBorder." Wall Street Journal, 4 August 1994, B4. Monterey,California: Brooks/Cole Publishing Company, 1987. Financial Markets: TheAccumulation and Allocation of Wealth, 5th ed. These fees vary by province; however, they areless than $1 per year Canadian in all provinces. If a company attempts to minimize risk throughinsurance, a fee must be paid. Exposure identification andrisk evaluation are the first steps in the process that are addressed bythe exporting corporation. The magnitude of the increases varied from 3.1 percent to 6.3percent. As second historical exampleinvolves the native peoples of Canada. Comparative Business Practices, Business practices are considered in relation to marketing, productionand management, competition, employment, and investment, and energy and theenvironment. Therefore, allCanadians are eligible to receive the same level of health care. The defeat of the Parti Quebecois andthe negotiation of the Meech Lake Constitutional Agreement in the mid-198 sstrengthened this hope. Economic Factors. In considering whether all, aportion, or none of a particular risk should be retained, a company mustdetermine the extent to which the risk can be financed from internalsources, the extent to which effective risk control measures can beimplemented, and (3) the cost advantages or disadvantages betweenconventional insurance and self-insurance. Asexamples, with respect to the transport of goods, a storm at sea is beyondthe control of a private company; and, with respect to non-payment byforeign buyers, a political revolution, such as that which occurred in Iranin 198 -1981, and which resulted in the cessation of normal economicintercourse between that country and the United States, is beyond thecontrol of a private company. In fairness,however, it must be acknowledged that even during the Reagan and Bush yearsthe United States had a superior environmental protection record to that ofCanada and most other countries in many specific areas of concern. Dalglish, Brenda. The Canadianinternational trade balance has remained positive over the past five years. D. While Canadians generallyopposed such American foreign policy and military adventures such as thecontemporary actions in the Caribbean, and earlier ones in Central Americaand Southeast Asia, they are also solidly on the American side in thecontext of east-west relations, although they were more anxious than weremost Americans for the United States to reach some accommodation with theformer Soviet Union, and they remain committed to the maintaining of goodrelations with the Peoples Republic of China, Cuba, and other countries towhich Americans tend to be hostile. The class model, in contrast to the elite pluralist model, placesdifferent socioeconomic groups in competition and conflict with oneanother.[18] In Britain, the Labour Party is held to represent workingclass Britons, while the Conservative Party is held to represent thebusiness and professional classes, and, to a lesser extent, thearistocracy. No other country hasprovided peace keeping and observer forces for the United Nations to theextent that Canada has. Canada, however, remains a more regulated country thanthe United States with respect to the conduct of business.[14] In matters of foreign policy, Canada is an ally of the United States,and a member of NATO (North Atlantic Treaty Organization). Peters, "International Perspective: Canada-- Recession andRecovery." Business Economics, 26 (1991): 51-55.[14]14Deirdre McMurdy, "Trade Blockade," Maclean's, 1 July 1994, 34-35.[15]15Brenda Dalglish, "Selling the Nation," Maclean's, 1 July 1994, 36.[16]16T. McNaught, History of Canada, 4th ed. (New York: McGraw-Hill BookCo., 1994), 457. Government in Canada is generally more free of corruption than that inthe United States. Friedman, Sheldon. This concept is valid, and, certainly, risk inwhatever operation must be minimized by organizational management. McMurdy, Deirdre. Geographic factors affecting a corporation's export planning areassociated with (a) legal barriers to entry of international markets, (b)growth and decline in both existing and new markets, and (c) changingsupply and cost conditions in different markets. Social classes are not as well defined in Canada as they arein Britain, and any application of the class model in contemporary Canadaoften finds itself impaled on the shifting compositions of theunderprivileged and the privileged. Within the concept of theelite pluralist model, competing elites determine public policy throughbargaining and compromise, while the voting rights of the masses enable newelites to gain a share of the power within the Canadian social andpolitical systems. Risk financing involves providing the funds required to coverpotential losses. Inthis broad context, everything that is done by a private sectororganization involves risk. All polls haveindicated that the Canadian population overwhelmingly supports universalhealth care. Robinson, and D. The defeat of the Quebec separatist referendum, and the repatriationof the Canadian constitution in the early-198 s gave some hope that Canadawould become a more unified country. Freeman, Alan. These risks may be grouped into two principal categories: risksassociated with potential casualty or theft losses; and risks associatedwith potential credit losses. Daly, John. Wells, J. Significant increases in unemployment inthe United States may be expected in some industries, however, in the wakeof the North American Free Trade Agreement (NAFTA).[5] In the wake of theFree Trade Agreement between Canada and the United States, Canadianinvestment in the United States increased significantly. Marketing Practices Marketing practices in Canada and the United States are virtuallyidentical.[1] Product safety and consumer protection from fraud areprotected in each country. Thenegotiation of the Free Trade Agreement (FTA) with the United States in thelate-198 s, and NAFTA in the early-199 s, however, will likely draw Canadaeven more closely to the American economy. Supplier and Technological Factors. Almost everyone else--including thecontemporary federal government in Canada-- dislikes the tax. Ottawa,Ontario: Queen's Printer, 1994. The objective of the risk control function is theelimination or reduction of not only loss but risk itself. Less than five-percent of all Canadianphysicians have opted out of the public system. "Selling the Nation." Maclean's, 1 July 1994, 36. Risk of thistype may be associated with investments in common stock or bonds, or it mayrefer to the risk involved in one capital investment project, as opposed toan alternative project. I., and D. Controls over deceptive advertising are alsosimilar. Theelite pluralist model recognizes the presence in Canadian society ofelites, and recognizes that classical democracy, as that ideal is embracedin the concept of pluralism, does not exist in Canada. The Statesman's Year Book. Government in Canada is stable. In the case of risks associated withpotential casualty or theft losses, insurance coverage is usually availablefrom private insurance companies. In this role, Canada attempted to walk a middleground between the position of the Conservative Government in the UnitedKingdom (which advocated settlement of the apartheid problem primarilythrough political negotiation) and the Front Line State members of theCommonwealth (who desired to pursue a tough economic sanctions policytowards the Republic of South Africa). While these types of risks are quite real, andmust be addressed by organizational managements, they remain outside of theresponsibility area for risk management officers, in most instances. In addition to its high interest rate policy, the Bank of Canada hasalso pursued a goal of controlling inflation through monetary policy duringthe period of analysis covered by this research. Various types of risk exist in the conduct of internationaltrade. Summary This research examined the issues and problems related to theselection of an export market. The World Bank. Almost all fee forservice care involves treatments and procedures which are not covered byCanada Health. The class model assumes divisions within Canadian society along thelines of British society, in which the working class, as an under class, ispitted against a business class, and even an upper class aristocracy. The governmental and legal factors that most directly affect acorporation's export planning are (a) wage and price controls, (b) equalopportunity laws, (c) occupational safety and health laws, (d) consumercredit regulations, (e) zoning laws, (f) environmental protection laws, (g)consumer protection laws, (h) labor relations laws, and (i) planttermination laws. Further, the United States subsidizes energy prices, byfailing to recover through energy taxes the cost of maintaining the massiveforeign trade deficit which is, to a great extent, caused to the import offoreign energy into the United States. Governmental and Legal Factors. Hunter, Brian. A variety of political events may createcredit risks. Elite theory holds that an elite is comprised of a relatively fewpeople within a society who have and exercise power within that socialsystem.[16] By contrast, the masses are the many people who cannot wieldpower within a social system. Language, culture, and history mitigate againstsuch incorporation in each instance. What is a highly significant factor today may be of littleconsequence (in the context of strategic planning) tomorrow, and viceversa. Wrightsman, D. Dye, and H. Consumer prices in Canada increased steadily over the past fiveyears. CHOOSING AND EXPORT MARKET Introduction This research examines the issues and problems related to theselection of an export market. Risk management administration involves the development ofadministrative techniques to carry out the risk management process mosteffectively, using skills available inside and outside of the company.Once risk exposure, and the measurement (evaluation) of risk have beenperformed, the most important element of risk management must be performed--risk control. Market and Competitive Factors. As much as Canada generally has trepidations about a freetrade agreement with Mexico (if Canadian jobs were lost to a lower wagearea United States, the Canadian imagination runs wild at the number ofjobs which may be lost to cheap Mexican labor), however, Canada worrieseven more about additional free trade agreements in the Western Hemisphereof which they are not a party. "Canadian Industry Adapts to Changing Markets."Aviation Week & Space Technology, 14 March 1994, 55-57. "NAFTA As Social Dumping." Challenge, 35 (September-October 1992): 27-32. Thus, in thecontext of east-west disputes, Canada is solidly in the western camp.Canada is also a member of the Commonwealth, and, in this area, the countrydoes have a major foreign policy problem. Bibliography Carlisle, Tamsin. Competition is strong in Canada.[15] Canada has viewed with alarm the loss of companies, productionfacilities, and jobs to the United States in the wake of the Canada-UnitedStates FTA. McMurdy, Deirdre. "Old Rivalries Move North." Business Week, 18 July1994, 36-37. Compatibility between the business practices of a corporationand those prevalent in an export market are critical to the success of theexport venture. Even in ademocracy, such as Canada, a few exercise a relatively great weight ofpower, while the many exercise hardly any at all. The country's arctic territories enable it to claimcontrol over the important water route near the North Pole, although theUnited States disputes this claim with a counter claim that the Arcticwaterway is international in character. Report of Economic and Social Statistics (Ottawa,Ontario: Queen's Printer, 1994), 45.[21]21R. Further, recentnational polls in the United States indicate that the majority of Americansno longer agree with the politicians over the priorities underlying thedelivery of health care. The Canadian government thinksthat the only way to preclude such an outcome is to be a part of NAFTA.Canada, thus, perceives NAFTA although with respect to both finance andsome high-tech industries it does see opportunities for Canadian firms.Canada's major goal in relation to NAFTA is to preclude the development ofa defacto American economic dictatorship in the Western Hemisphere throughthe negotiation by the United States of multiple bilateral free tradeagreements. The relevant supplier and technological factors affecting exportplanning in a corporation include (a) the ability of suppliers to dictateprices, (b) the availability of raw materials, (c) the cost of rawmaterials, (d) the availability of labor, (e) the cost of labor, (f) theavailability of capital, (g) the cost of capital, and (h) technologicalchange. These same polls indicate that a majority ofAmericans believe that the Canadian approach is superior to that in theUnited States. Canada has a love-hate relationship with theUnited States. Social Factors. Managers tend to have little tolerance for ambiguity,and thus often do not appreciate the necessity to deal with uncertainty inexport planning. Infact, of all of the industrialized countries in the world, only the UnitedStates and the Republic of South Africa are without such systems. These environmental factors may be grouped according to sector--economic, governmental and legal, market and competitive, supplier andtechnological, geographic, and social. The United States is an energydependent country. The objective of this research was toidentify and explain the factors that typically are included in such ananalysis. The economic factors that have the greatest impact on a corporation'sexport planning are (a) the stage of the business cycle, (b) trends inprice inflation and deflation, (c) monetary policies, (d) fiscal policies,(e) international balance of payments, (f) international balance of trade,and (g) governmental budget deficits and surpluses. M., III. Jacobs, "The NAFTA: Exports, Jobs, Wages, and Investment,Business America, 18 October 1993, 3-5.[8]8Tamsin Carlisle, "Natural Gas Drilling Is Booming North of the Border,"Wall Street Journal, 4 August 1994, B4.[9]9Alan Freeman, "Financial Expansion Continues," Financial Times, 3 July1994, 82.[1 ]1 John Daly, "Shifting Into A Higher Gear," Maclean's, 28 March 1994,42-43.[11]11The World Bank, World Development Report (New York: Oxford UniversityPress, 1994), 243.[12]12Brian Hunter, The Statesman's Year Book (New York: St. Hughes, David. "Shifting Into A Higher Gear." Maclean's, 28 March 1994,42-43. Symonds, "Old Rivalries Move North," Business Week, 18 July1994, 36-37.ote[2]2David Hughes, "Canadian Industry Adapts to Changing Markets," AviationWeek & Space Technology, 14 March 1994, 55-57.[3]3Deirdre McMurdy, "Building the New Economy: The Push Is On To PositionBusiness For Changing Times," Maclean's, 27 June 1994, 28-29.[4]4"Jobless Rate Rises in April," Facts on File, 26 May 1994, 385.[5]5Sheldon Friedman, "NAFTA As Social Dumping," Challenge, 35 (September-October 1992): 27-32.[6]6J. The elite pluralistmodel, however, holds that democratic values are preserved in Canadathrough a system of multiple, competing elites. McNaught, K. D. Wrightsman, D. "The NAFTA: Exports, Jobs, Wages, and Investment."Business America, 18 October 1993, 3-5. External Environmental Factors The characteristics of the external environment of a target countrymust be considered in making a decision on the selection of an exportmarket. New York: Oxford UniversityPress, 1994.-----------------------[1]1William G. Geographic Factors. All persons in Canada are charged anannual fee for health care (in addition to the federal and provincialincomes taxes they pay). The very uncertainty of suchfactors causes many managers to attempt to ignore them in the exportplanning process. New York: McGraw-Hill BookCo., 1994. International Risk Management Risk management in the global environment involves a variety offactors. Undoubtedly, employment gainswill occur in the United States. "Building the New Economy: The Push Is On ToPosition Business For Changing Times." Maclean's, 27 June 1994, 28-29. R. The Bush Administration spoke of andthe Clinton Administration speaks of employment gains for the United Statesthrough a free trade agreement with Mexico. The Irony of Democracy. Although in terms of geographic size, Canada is the second largestcountry in the world, its real strengths derived from geography are relatedto strategic position and natural resources, more than to sheer size. The Canadian health care system is characterized by most Americanpoliticians and almost all American physicians as a form of socializedmedicine, and it is contended that socialized medicine is inconsistent withthe concept of freedom of choice. The Canadian fear is that the United Stateswould, if it were possible, negotiate bilateral free trade agreements withall of the countries in the Western Hemisphere, so that the United Stateswould be in a position to virtually dictate trade policy in the Hemisphere,by playing one country off against another. M., Wells, III, "Doing the Right Thing," Industry Week, 19 August1993, 37.[7]7Stephen P. When some portion of a risk is shifted toanother party, the shifting party insures against the possibility of loss.With respect to export operations, one additional criterion must be added.The risks must be something beyond the control of a private company. Report of Economic and Social Statistics. It is a more feasible goal to attempt to eliminate lossthan it is to eliminate risk, although, in practice, some degree of losswill inevitably be experienced by most organizations. The Mulroney Government likedit and a few exporters like it. Since, the 196 s, however, interaction with the American economyhas intensified, although under Prime Minister Pierre Trudeau, an effortwas made to lessen Canada's economic dependence on the United States. Pure elitism is not generally thought to exist withinCanadian society. Since the advent of theMulroney Government in 1984, the government of Canada has pursued a policyof fiscal restraint, while the overriding characteristic of the monetarypolicy pursued by the Bank of Canada has been high interest rates,especially in comparison with those prevailing in the United States.[13]The Mulroney Government also implemented the goods and services tax, avalue added tax. In all instances, thephysicians have lost these battles. Risk inthis broad, however, is not the type of risk to which risk managementprocedures, per se, are applied. In 1994, a separatistprovincial government was elected in Quebec. In the wake ofNAFTA, business may be expected to continue to shift south--from bothCanada and the United States.[6] Thus, it is projected that NAFTA willresult in increased American and Canadian investment in Mexico, along withdecreased investment rates in both Canada and the United States, withCanada suffering to a far greater extent than the United States.[7] Energy and the Environment Canada is energy independent.[8] Further, Canada prices energy nearor at the economic cost of energy. Withbroad access to both the Pacific and the Atlantic Oceans, Canada is amaritime power, and its oceanic economic zones provide it with control ofmajor fisheries. London, England: PenguinBooks, Ltd., 1992. An even smallerproportion of Canadians seek fee for service care. The failure of the Meech Lake Agreement, Quebec'simposition of the not-withstanding clause of the Canadian constitution toimpose its restrictive language legislation, and increasing hostilitybetween French and English speaking Canadians, on the one hand, andCanada's native peoples and the federal and provincial governments, on theother hand, however, cause the prospects for the development of a singleCanadian identity in the 199 s to appear dim indeed. Even with universal health care and with health carequality at least as high as that in the United States, however, health carecosts in Canada consume less than seven-percent of that country's grossnational product, compared to more than 1 percent in the UnitedStates.[2 ] In Canada, a national health care insurance system is in force. Power, in this context, represents theprerogative to make the decisions as to who gets what, when, and how.Thus, societal elites participate in the decisions which shape the lives ofall persons within a society, while the masses are those persons whoselives are shaped by institutions, events, and leaders over which they, themasses, are able to exercise little, if any, direct control. New York: St. Jacobs, Stephen P. Shifting societal attitudes toward work also affects strategicplanning. Supply and technology in Canada are similar to the United States. On the other hand, if, in the absence ofinsurance, a loss actually occurs, the firm incurs a cost in this way. Where illustrations such issues andproblems are used, Canada is cited as the example. Canada is a strong supporter of the United Nations, and of thatorganization's efforts to maintain world peace. The concept of risk, with respect to the purpose of this research, isin part a risk involving the possibility of an adverse outcome to an event,the possibility of a real and recognizable loss, as opposed to a failure tomaximize opportunities, and the possibility of a real and recognizableloss, wherein some portion of the risk of such loss may be able to beshifted to another party. The elite pluralist model posits that public policy decision making ischaracterized by an interaction between a set of multiple elites within asociety.[17] The principal societal actors within the context of the elitepluralist model are corporation leaders, the heads of a nation's financialinstitutions, elected political leaders, appointed officials ingovernmental bureaucracy and the military services, and organizationalleaders at the societal level--labor, agricultural, and professional.Pluralism holds that power is fragmented within a society; however, theelite pluralist model puts limits on such fragmentation, in that politicalpower within the society is exercised by a set of elites. The concept of risk is narrowed somewhatby the definition holding that risk in the conduct of business is the"possibility of an adverse outcome to an event."[21] In the context ofevents, however, this definition of risk remains quite broad. "Doing the Right Thing." Industry Week, 19 August1993, 37. Peters, D. The relevant social factors affecting a corporation's export planningare dynamic. The ideology underlying the Canadian health care system isuniversality. Potential credit losses involve bothcommercial credit risks, and political risks. "Jobless Rate Rises in April." Facts on File, 26 May 1994, 385. In attempts to assimilate nativepopulations into the Canadian social structure, both anglophone andfrancophone Canada have wreaked havoc on native cultures in Canada. The objective of thisresearch, however, is not to develop a recommendation favorable orunfavorable with respect to the selection of Canada as an export market.Rather, the objective of this research is to identify and explain thefactors that typically are included in such an analysis. In the case of exportoperations, neither may be available from private insurance companies. Insurance Insurance for export operations that are provided exclusively byprivate insurance companies is generally limited to cargo insurance.Export insurance coverage provided exclusively by the federal government,or on a cooperative basis by the federal government and private sectorentities is that insurance associated with the Export-Import (EXIM) Bankactivities, Federal Credit Insurance Association (FCIA) activities,discount loans, commercial bank guarantees, direct loans and theCooperative Financing Facility (CFF), and Overseas Private InvestmentCorporation (OPIC) activities. Risk Management The process of risk management has five principal elements. In thepast few years, physicians in three provinces have attempted to extra-billpatients for charges in excess of the fee schedules. Similar conditionsprevail in the United States. In almost allinstances, however, exclusions apply to some types of cosmetic surgery, andto unproven experimental procedures. Services which are excluded from the public health caresystem are determined separately for each province. "International Perspective: Canada--Recession andRecovery." Business Economics, 26 (1991): 51-55. Persons with no incomeare not required to pay these fees. Additionally, governmental actions affect strategicplanning conducted by organizations through (j) governmental purchasingpolicies, (k) governmental subsidies for selected industries, (l) exportand import laws, (m) anti-trust laws, and (n) taxation policies at alllevels of government.
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