Evaluation Of Canadian Tire As A Potential Employer For The School Of Management Graduates

Introduction

The purpose of the following report is to complete a thorough inquiry of the Canadian Tire Corporation as a potential employer for the Ted Rogers School of Management graduates. The analysis of all corporate aspects will determine if it is worthwhile for students to venture off to the corporation upon graduating.

Method

In order to amass all necessary corporate and financial information pertinent to the Canadian Tire Corporation, secondary research was conducted. Library databases and the corporate website were the main resources used to analyze the overall value of the business.

Key Findings

Canadian Tire is a company with a long span of history and growth. Beginning with one single store in 1922, they have grown profusely to a franchise of 1700 retail locations Canada wide today (Canadian Tire, n. d). This multibillion-dollar company’s revenue sources come primarily from its’ retail divisions; Canadian Tire, Mark’s and the Forzani Group. In addition to that, the enterprise also has finance and real estate operations (Euromonitor International, 2018). The Canadian Tire corporation caters to their consumers’ home improvement, gardening, apparel, footwear and sports good needs at such a large scale. These customers are typically individuals who live in urban communities with few people at home (Euromonitor International, 2018). Canadian Tire has become one of the largest companies in Canada. In the past fiscal year of 2017 its’ worth amounted to $15,624,200,000 in total assets (Infomart, 2018).

The Canadian Tire Corporation, also known as CTC. A on the Toronto Stock exchange, did not grow overnight. This company uses strategy in every element of their daily operations to generate growth. In this time and age, where technology has become significant to daily life, companies which seek to advance financially have modernized their traditional ways of performing business. This occurred in 2014, CTC. A traditional Canadian Tire money was “digitized by phasing out its paper currency for the app based programme” (Euromonitor International, 2018, Internet Strategy). Since then the company’s internet strategy has been to increase client reach. The use of social media and the Pay and Pick up service was made a focus as socioeconomic culture trends have begun to shift into modernized online shopping. “Canadian Tire’s approach to e-commerce is “phygital”, a strategy that emphasizes physical stores and digital channels. ” (Euromonitor International, 2018, Internet Strategy), making Canadian Tire a leader in all the markets that it has tapped into.

Canadian Tire has brilliantly achieved advantageous competitive positioning in the market for Sports goods. In 2011, when “Canadian Tire acquired the Forzani Group [they became] the largest player in sports good stores”, (Euromonitor International, 2018, Competitive Positioning). The Forzani Group ran Sport Check, Atmosphere, National Sport, Sports Experts, Intersport, Tech Shop, Hockey Experts, Nevada Bob’s Fitness Source and Pegasus, (Euromonitor International, 2018). Canadian Tire gained such competitive strength from this achievement that the competition with other retailers became slim to none. Canadian Tire is both financially powerful and sustainability initiative focused. Over the last 10 years Canadian Tire has strived to address environmental concerns through several sustainable solutions and innovations to their business and retail operations, (Canadian Tire, 2016). They have eliminated toxic chemicals called neonicotinoid pesticides which kill bees unnecessarily. The use of larger containers for transportation has reduced the amount of fuel and carbon emissions. In addition, they implemented energy efficient buildings, rooftop solar panels and automatic heat shut off at doors. Overall, they have thought of how to reduce their environmental footprint in every phase of the supply sequence, (Canadian Tire, 2016).

The company health can be measured by its profitability. In 2017 the net profit margin was 6. 09%, higher than it has ever been (Infomart, 2018), and it has done nothing but grow year to year. It is safe to say, that Canadian Tire has good financial health and operating efficiency because it is very profitable.

Canadian Tire has been awarded one of Canada’s Top 100 employers since 2014. They believe it is important to maintain, “internal transparency, share corporate strategies and engage senior leaders and employees in new ways” (Canadian Tire, n. d). This has been executed through motivational speaker series and Hotideas two platforms for employees to bring their ideas to light.

Conclusions

In conclusion, the Canadian Tire Corporation has a long-standing reputation for resilience and economic growth. Their sense of innovation and competitive strategy makes it the leading retailer it is today. The company is run by brilliant executives who have strategically mapped out every corporate element of the business. RecommendationsThe magnitude of Canadian Tire’s reach may be sometimes overlooked. One may have never realized that when walking into Sports Chek you are also consuming products owned by the Canadian Tire Corporation. This company has done such a good job at creating a presence nationwide that it is almost easy to forget how large it is. Thus, leading one to believe that if this company can survive the last 96 years while thriving in several competitive markets, it would be an incredible employer for TRSM graduates. Graduates would be able to work for a leading Canadian corporation with positions all over Canada as well as learn from its’ most intelligent corporate strategies and ways of operations. On top of that, they would work for an award-winning employer recognized as one of the best to work for in Canada, four years running. The well rounded and resilient foundation of the company, along with the value placed on its employees and the environment would lead one to, without a doubt recommend Canadian Tire to graduate students as an employer. ReferencesCanadian Tire. (n. d. ). Boldly Shaping Retail in Canada.