Canadas global challenge in the 21st century

In my opinion, Canada's global challenge in the twenty- first century is to maintain or better its standard of living. Maintaining a good standard of living will help Canada retain and attract talented, educated people who will maintain and increase our productivity as a nation. In order to maintain this standard of living, Canada should try and enhance its knowledge economy, intellectual capital, it ability to thrive in the knowledge economy, innovation and quality, taxation and innovation and rationalization.
In order to better our knowledge economy, Canada should emphasize the importance of education, and continue to fund education in a positive manner. In regards to Canada's intellectual capital, Canadian companies should be innovative and creative and try to bring to the market, products that are unique and superior to those of competitors. To increase Canada's ability to thrive in the knowledge economy, Canadian businesses must foster a sense of teamwork throughout the entire organization. In order to improve on the innovation and quality of products produced by Canadian companies, Canadians must seek improved technology where it is available. To ensure international competitiveness Canadian companies should come up with unique products or services and price them according. Canadian companies must also be dedicated in finding new ways of increasing productivity.In regards to the taxation and innovation present in Canada, although Canada's corporate tax rates are higher then many of its global competitors because of the good infrastructure provided, Canada still has low labor cost rates. Canadian companies should try and lower taxes on individual companies, because by doing so it would stimulate the economy by encouraging business and consumer spending, foreign investment, and employment. In regards to the rationalization processes found in Canada, Canadian companies should make proper decisions whether or n…

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