Week 7: Alcohol Industry Insights

Week 7: Alcohol Industry

• Alberta privatized its liquor board (LCBO) in 1993, while Ontario modernized its public system.
• Both decisions occurred during economic hardship under Conservative governments.
• Alberta's LCBO privatization happened under Ralph Klein, facing a $2.3 billion deficit and 10% unemployment in 1993.
• Ontario's LCBO modernization was implemented under Mike Harris, facing a $9 billion deficit and 8.9% unemployment in 1996.
• Ontario's LCBO focused on higher-value products, increasing per-visit spending without significantly increasing overall alcohol consumption.
• The LCBO launched a "Food and Drink" magazine to position alcohol as part of a wider middle-class lifestyle.
• Alberta's privatized system offers greater convenience with more stores and longer hours.
• Ontario's LCBO prioritizes a higher-quality shopping experience.
• Alcohol prices are similar in both provinces, with taxes being the primary factor.
• Local context (history, culture, politics) significantly influences policy decisions.
• Both provinces' decisions may be influenced by populist views and entrepreneurial approaches to local issues.

Week 8: Travel and Tourism

• Post-war recovery in the US saw American tourists promoting US culture and ideals in Europe.
• 1944 Bretton Woods Conference linked the US dollar to gold.
• Marshall Plan was implemented, encouraging American tourism to help rebuild post-war Europe.
• Increased expenditure by American tourists contributed to a $7,000,000,000 net loss in foreign currency.
• Extended stay programs to attract foreign workers were introduced for destinations to mitigate the impacts of COVID-19.
• The pandemic prompted new strategies and a focus on targeting high-net-worth tourists and those seeking remote work opportunities.

Week 9: Finance

• The history of Black management reveals an overlooked form of capitalism.
• Systemic racism has created barriers for Black professionals in corporate leadership.
• There is a lack of recognition for the contributions of Black professionals across various corporate sectors.
• Underrepresentation of Black professionals is present in business and educational contexts.

Week 10: Textile Industry

• Fast fashion, pioneered by Amancio Ortega Gaona (Zara and Inditex), rapidly responded to market demands.
• Vertical integration and rapid response to trends are key strategies.
• Inditex's public offering in 2001 allowed for increased growth.
• Prioritizing customer feedback and adaptability over traditional seasonal collections was key to Inditex's success.
• Outsourcing is not ideal and leads to inflexible supply chains.
• Low efficiency in production is a common problem in the fashion industry.

Week 11: Oil and Gas Industry

• British Petroleum (BP), originally Anglo-Persian Oil Company, was founded in 1909.
• The company faces challenges related to nationalism, oil price shocks, and environmental concerns.
• Iran's move to nationalize oil resources in 1953 created challenges for BP.
• The 1973 OPEC oil embargo and the 1979 Iranian Revolution affected the global oil industry.

Week 12: Service Industry

• Globalization impacts service industries, including telecommunications, finance, and retail.
• Offshoring customer service functions to lower-cost countries has become common to mitigate operational costs.
• Differences in culture, language, and labor practices between countries can create substantial challenges.
• Companies struggling to achieve best-shore approach to customer service.
• Companies struggle to replicate customer service practices abroad.