ISSUE 58 | OCTOBER 2020
HAPPY
Pg. 48
Pg. 58
THIS MONTH FOCUSING ON Leading Your Team Into A Post Pandemic World
Cottage Real Estate Markets
Economic Inequality Revealed Through Quotes and Numbers
An Employment Recovery In Canada Post Covid-19
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CONTENTS
26
Crafting Useful Business Strategies
30
Eating During Covid-19:
32
Global Sustainable Tourism Conference British Columbia
36
How Climate Change Could Expose New Epidemics
Into A Post Pandemic World
Improves Your Mood & Lower Your Stress Levels
06
Leading Your Team
08
What the post-pandemic Canadian housing
10
Drastic Measures
38
Crossword Puzzle
13
Cottage Real Estate Markets
40
HOW THE CORONAVIRUS CRISIS IS CHANGING THE INSURANCE INDUSTRY
16
Economic Inequality Revealed Through Quotes and Numbers
42
How the experience of colonialism is linked with the idea of development...
18
Effects of Pandemic on Real Estate in Canada
20
Event Calendar
Into A Post Pandemic World
market might look like
For A Good Night’s Sleep
Rises With More Canadians Working Remotely
Holidays and Observances in October
22
44
IMMIGRATION GUIDELINES FOR ‘PR’ APPLICATIONS IN COVID-19
AN EMPLOYMENT RECOVERY IN CANADA POST COVID-19
48
INTERNATIONAL STUDENTS & CHANGES MADE BY THE IRCC
EDITOR'S LETTER Dear readers, 58th edition of MBE Business Magazine has been published for the months of October. It is autumn in Canada, with cooler weather across most of the country along with cloudy days and some rain. Although temperatures are milder this month, it's still a good time of year to go sightseeing and adventuring, as long as you don't mind the occasional shower and cooler temperatures at night. In this issue we have covered several business sectors recovery after Covid-19 pandemic. It includes article by our president Mr. Mansoor Naqvi “Leading your team into post pandemic world”. Mr. David R. Mackereth, President Canimac Management Services Limited provided his overview on economic inequality revealed through quotes and numbers. This issue includes interview of Mr. Dale Thom Broker/Owner - An Enthusiastic Royal LePager about Effects of Coronavirus on GTA Real Estate. You will find this issue more interesting and informative then before. As our team have worked tirelessly to bring this issue on digital and social media. We have launched our magazine website. So it will reach to maximum people via electronic media. Your feedback is highly valuable to us. If you have suggestions or comments feel free to call us at 1-866-667-1377 or email us at info@mbeforyou.com to tell us what you think about this issue. For ad placements and marketing related queries, please email us at mbe-marketing@mbeforyou.com Thank you, Aurora Zabala, Editor In Chief.
Publisher MB Enterprises Editor-in-chief Aurora Zabala Senior Editor Peter Z. Vaisey Managing Editors Steve Montgomery Mahmood Naqvi Design Cynthia Tolson A. Khan S. Saad Production, Technology & Print Simon Wilson R.J Advertising S. Hassan Shoeib Kamal Administration Alamdar Hussein Erum Asghar R. Adil HOW TO REACH US Website: www.mbeforyou.com Feed-back: 1-866-667-1377 E-mail: info@mbeforyou.com Mail: 100 Dynamic Drive, Unit 104, Scarborough, ON, M1V 5C4. Fax: 1-866-204-6888 MBE Business Magazine is a monthly issue business magazine published by MBE. Inc. Ontario, Canada. Printed by Vision Printers Contents © Copyrights 2017 by MBE, may not be reprinted without written permission. Subscribe / Unsubscribe or Advertise by emailing us at mbe-marketing@mbeforyou.com
Leading Your Team
Into A Post Pandemic World Syed mANSOOR Naqvi
PRESIDENT MBE
Leading your team into a Post Pandemic world is itself a huge
significant example which many companies have adopted to
challenge after a long break Post COVID-19. Even in the
avoid the pandemic.
midst of what’s happening many sectors are still not fully opened and needs opening up with a radical change manage-
Apart from safety they are working for the assurance of
ment strategy.
security as well which is another key and primary concern. Many companies have made sure that employees keep on
According to Kotler’s model of Change management there
working on payrolls for as long as it is possible. Alternatively,
are some key measures that as a leader one needs to exhibit
some companies have increased pay for front line and core
while ensuring change strategies. These includes Creating
workers. Many companies have established employee relief
urgency, forming a powerful coalition, creating a vision for
funds for the sake of addressing change on an urgent basis.
change, communicating the vision, removing obstacles,
Flexibility is also evident by senior executives and Board of
creating short-term wins, Building on the change, and
Directors who have cut down their salaries.
anchoring the change in the corporate culture. In this model for change management most of the factors are easily
A huge question is how are leaders able to address their
applicable in the Post pandemic comeback.
workers higher level needs during the pandemic. Leading with vision and leading with a kind of singular force is the hour of
However, there is a huge role that the leaders will have to
the needs for leaders. The type of leaders that are most
play to make sure that the change management strategies
needed in times of Pandemic are the ones with a strong
take place effectively. Communicating and creating the vision
analytical and a focused mind. Having a positive approach
for change is one of the most important while the corporate
and a vision for change while demonstrating vulnerability and
sector is opening up again after a long break due to the
empathy. A combination of a science based approach with a
Pandemic COVID-19. Building on the change and anchoring
human touch is what is needed to undergo leadership
the change are rest of the two measures that will definitely
challenges effectively.
help in implementing the change in the corporate culture and environment.
HUMAN NEEDS IN THE RE-OPENING PHASE: As many companies in Canada are planning to re-open in the
HUMAN NEEDS IN THE SHELTER-IN-PLACE PHASE:
opening up phase. They are bound to take some key steps in
This is the phase during which companies have sought to
form of precautionary measures and key implications. While
ensure their workers physical safety. Companies have in
preparing for the next phase the spectrum needs to be broad
addition to the measures also implemented work from home
for their employees and their needs. This is apart from just
measures. As well as sanitized essential areas and shifted
creating a physically safe workplace to other mandatory
operating models. Contactless delivery is yet another
measures. As an example the companies are considering the
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MBE BUSINESS MAGAZINE OCTOBER 2020
W W W. M B E F O RYOU. C O M
following measures that span the full range of human needs
humane and caring delivering them that the world is constant-
from basic to advance. Some key points are as follows:
ly changing. Also highlighting that some things that are not changing including the company’s core focus and their
• Key highlights on how the activities of the companies are
corporate values.
contributing to the common good. At the same time making a
• Apart from bringing back maximum employees, the
huge difference in people’s lives.
communication with those working remotely should have
• As part of the crisis management the company must define
special attention. They must have in their minds the vital
the conditions that will ensure the safe re-opening of the
importance of working remotely.
procedures. These includes from in-home services to offices and stores. • Celebrating the inspiring news a way to tackle workers mental health problems Post COVID-19. • The company should make sure that they bring back as many workers as possible Post COVID-19. This is essentially for the own good of workers and their simultaneous commitments at work. • Highlighting the roles that employees can play while they are back at work. This will definitely give them back their attitude at work as it used to be Pre-COVID-19. • Ensuring an honest communication at professional levels with the employees. The communication should be truthful,
W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE OCTOBER 2020
07
What the post-pandemic Canadian housing market might look like SYED MAHMOOD NAQVI Vice President | MB Enterprises
The real estate market in Canada
working operations is not the only
that how the market will behave for at
since the arrival of COVID-19 has
answer though, there has been social
least some time. The brokerages and
reacted differently. This is similar to
distancing in public places and
real estate agents have started to
many other sectors where the effects
following other mandatory measures
operate differently with higher
has been evident, however, in the real
associated with COVID-19. The
ambiguities on how the markets will
estate the effects are divided into two
question arises how it has affected the
be performing.
periods. These two are in the form of
Real Estate market in Canada? The
periods divided into long term period
trends of the past few months has
effects and short-term period effects.
shown that, ironically due to
SHORT-TERM EFFECTS ON THE CANADIAN REAL ESTATE:
Talking into a broader context, this
limitations in budget real estate prices
The declaration of COVID-19 as a
global pandemic will be changing the
has considerably fluctuated. The term
global pandemic was made by WHO,
real estate sector in Canada for at
‘Business as Usual’ is highly affected
or World Health Organization post
least a short term interval.
as usually what happens has been
March 11. At the same time stats were
impacted due to change in circum-
released from Canadian Real Estate
Evidently in all provinces in Canada
stances. These change in circumstanc-
Association, i.e. CREA. It showed that
the effects of COVID-19 has affected
es has risen due to the impacts of
the month of February was particular-
the corporate world with business
Coronavirus virtually on the whole
ly hot for year-over-year sales that
shutdowns and most people working
business community. As it is highly
rose 27% nationwide. This was also
from home. The increase in remote
ambiguous in this pandemic situation
an indication to the fact that busy
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MBE BUSINESS MAGAZINE OCTOBER 2020
W W W. M B E F O RYOU. C O M
spring buying season had started
who have already sold their home
of 2019 which means at least two
early. Also performances showed
Pre-Pandemic and are looking for
years period. However, the effects of
incredible results for both Toronto and
another one soon. These are known
the two year period means higher
Vancouver i.e. 45.6% and 44.9% rise
as “Highly motivated” buyers and
effects of pandemic COVID-19
in sales transactions respectively for
sellers and they are the ones who
predicted as it started lately in March
the two cities.
can’t change their decisions due to
2020 and the markets are still under
the effects of the pandemic. This is
the negative influence of the pandem-
Despite all this post pandemic results
mainly as their life is already under
ic.
vary, we can also expect to see
influence of some circumstances for
market activity slow down, as buyers
e.g.: Divorce, relocation due to work,
However, the reality states that the
and sellers may reach a stalemate.
or downsizing or upsizing quickly.
fundamentals of the market i.e.
Sellers will show hesitancy in accept-
particularly in the GTA and other major urban centers don’t change.
the other hand will hold off their home
THE LONG TERM EFFECTS ON THE REAL ESTATE:
purchase amid uncertain health and
What’s more hard to predict is how
available and also combined with the
economic conditions. Both of these
COVID-19 will continue to be a threat
growth of population in Ontario’s big
are rising due to the results of the
i.e. along with its impacts on individu-
cities like Toronto we can expect fast
pandemic. Although these can be
als, businesses and the market. It’s
recovery. This can be expected once
termed as short term effects of the
hard to predict because COVID-19 is
the health risks are mitigated from
pandemic, however, these can be
still not over yet and how COVID-19
COVID-19 effects and the financial
influence generators for long term
has changed the circumstances is a
markets stabilize. Bringing stability to
effects. At the same time the effects of
huge question mark.
the sector after COVID-19, is itself a
ing lower offers while the buyers on
the pandemic can be balanced as well
Also, due to the limited inventory
huge necessity.
as there are some buyers and sellers
As an example the case study of
in the real estate who can’t avoid the
Ontario real estate market is the best
buying or selling at any cost.
answer. While the circumstances are wildly different, the last time the
There are still those who need to sell
market saw a change was in the
and buy right now that is for the sake
spring of 2017. The effects of that
of relocation for work issues, or those
cooldown lasted into the second half
W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE OCTOBER 2020
09
Drastic Measures For A Good Night’s Sleep SYED ALAMDAR HUSSAIN Country Head - MB Enterprises
A good night’s sleep holds immense
WHY is it important that you sleep at
that you are into bed virtually the
amount of importance for a person
least 7 hours in night? A question that
same time every day irrespective of
working 9-5 daily. It’s not only impor-
is asked very often by people who are
your daily activities. Also, you must
tant while moving forward, it also
confused over their sleeping habits, or
exercise for at least half an hour, so
holds secrets of success in the most
have a sleeping disorder or is an
that you automatically feel tired when
competitive environments. According
insomniac. The answer is simple, to
it’s your sleep time. Your food in-take
to the Health researchers, 7-8 hours
get the best results, in the 9-5 hours’
must be at least an hour prior to your
of good sleep is a vital ingredient for
time that you are working as in a
sleeping time. This will definitely make
the whole day that gives an edge in
corporate environment.
sure that your dinner is fully digested
terms of achieving the daily goals. It
and you shall be having a calm and
also is vital for the target orientation
TIPS OF GETTING A GOOD SLEEP:
peaceful sleep. Reading just before
measures for a person according to
While making some drastic measures
you sleep makes sure that your frame
their daily thresholds. Also effectively
of improving your sleeping habits, it’s
of mind is good enough before you get
binds a person to his/her goals in a
important to realize why you are
to bed. A comfortable bed with a
professional environment.
missing it in the first place? Change
highly comfortable mattress, pillow
your sleep patterns and make sure
and blanket shall make sure that your
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MBE BUSINESS MAGAZINE OCTOBER 2020
W W W. M B E F O RYOU. C O M
sleep will be a smooth one for the rest of the night. The room environment holds vital elements as the room temperature must be ideal, lights should be dim and it should suit your comfort zone at the optimum level. Always remember before going for sleep that your next day is highly dependent on your sleep with vital elements being the necessary ingredients. Little things matter if you have sleep disorders, therefore, the best way is to make sure that you have minimum disturbances while you follow your daily sleep habits.
THE PROFESSIONAL ATTITUDE: A professional attitude is an ingredient of success in the modern workplace. It not only helps in moving forward, but also motivates you a great deal at work. Just like a car is nothing without the fuel, similarly, a professional attitude is the fuel to your professional goals. According to the Canadian Govt., one in four of humans, especially in Canada are lacking enough sleep. Hence, it’s just not about the sleep, but staying asleep, as well as waking up refreshed. There are many health issues that are related to lack of sleep including chronic stress, poor mental health and many other medical issues. It can also lead to obesity and weight issues that can prolong if sleeping habits are not mended. Sleep better for a better tomorrow.
W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE OCTOBER 2020
11
SYED MANSOOR ALI NAQVI
AUTOBIOGRAPHY “As a mentor a person gets paramount importance from their followers, but success comes from true following & demonstration of work- MENTOR –CHAPTER 11� The Autobiography of Mr. Syed Mansoor Naqvi, The man who made it possible just with a vision and a dream in his eyes.
“A Successful Canadian Entrepreneur�
Cottage Real Estate Markets Rises With More Canadians Working Remotely DMM DEPARTMENT
MB Enterprises
common phenomenon in the modern
ENJOYING YOUR REMOTE WORK ENVIRONMENT:
work environments, especially in a
Many Canadians working remotely
country like Canada. The significance
are highly interested in enjoying the
associated with remote working in
Canadian forest regions, experienc-
the times of COVID-19 lock-down
ing the beautiful lakes and make the
has been huge in terms of value
whole experience an enriching one.
additions. It has also alternatively
Hence, cottages in this case are the
changed the way many people work
most favorable options in terms of the
and do business while the pandemic
productive and trendy buying
COVID-19 is still underway. While the
strategies. A halt on traveling has
COVID-19 pandemic has been a
also enabled the Canadians looking
cause of damage to much of the
to spend more fruitful time while
Canadian economy, the one market
exploring their own backyard.
that appears to be still thriving are
Hence, for most Canadians this is the
the cottages.
best time to explore, enjoy and look
Remote working has been a very
for more realistic options in terms of However, there is an expected
Real estate investments. It is true
increase in the cottage purchase this
that purchasing any property may still
year. Many real estate experts also
be a huge risk and out of reach for
think that this is probably the best
those who are financially impacted by
time of the year for the purchase of
the pandemic. However, there is
cottage. Many people are working
always a situation as the Canadian’s
from their home, hence, people
travel budgets could also provide the
highly realize the importance of work
start of a down payment. Good
from home, and that they can live
finance options are considerably
probably anywhere they want unless
available in the Real estate Cottage
they have a reasonable Wi-Fi
as well, just for the buyer’s conveni-
connection. There is a huge amount
ence & their financial ease.
of uncertainty associated with the stock markets amid the pandemic COVID-19, and this is the main reason why more Canadians are thinking to re-invest and give preferences to the Cottage environment.
W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE OCTOBER 2020
13
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Economic Inequality Revealed Through Quotes and Numbers
The Infinitesimal versus the Illimitable: Big Business, Big Government and the ‘Marginalized Electorate’ – Part Four (a) (iii)
Personal U. S. Credit Card Interest Rates versus the U. S. Fed Funds Rate (A)
DAVID RALPH MACKERETH dmackereth@canimac.com
economic modeling. The extremely high level of worldwide governmental debt makes it impossible for any real interest rate increases in the near, mid and possibly longer term, as
Feds Funds Rate
Personal Credit Card Interest
1980
14.40
17.4
any authentic interest rate increase, would in the short to
2000
6.08
15.0
mid-term bankrupt most jurisdictions. Japan (a non-develop-
2018
2.13
17.3
ing country) leads the world in government debt obligations, which is more than double its GDP. Japan has to wait and
(A) These percentage rates are averages from representative
see if it will still be a viable country, if and when interest rates
sources, and many other countries mirror this depiction.
increase, and they should in the normal course of economic activity (Repeating Business Cycles).
Over this 38 year period, the 1% has remarkably benefited from much cheaper borrowing costs (especially hedge funds)
US HEALTH CARE COSTS
to further augment their wealth. With little effort, one can
“Capitalism is the astounding belief that the most wicked of
easily see that the 99 % in the United States have not
men will do the most wicked of things for the greatest good of
received similar improvements that should have occurred to
everyone.” John Maynard Keynes (1883 – 1946)
their cost of credit card borrowing, resulting from the 85% reduction in basic interest rates.
“The limbic structures of our brain, where emotions are supposed to reside, are more ancient than the cerebral cortex
“Along with hard times and growing debt – 250 percent of
that carries our intelligence.” Freeman J. Dyson, The Face of
GDP, Japan is the most indebted nation of earth.” Bricker and
Gaia (1990)
Ibbitson (7) “It is possible that the imagination of twentieth-century people “The scheme of values that arose from the national task of
is shaped in the first place by ideas dating from the epoch of
developing the economic possibilities of the country drew
their grandfathers and great-grandfathers, ideas taken from
nearly all the brains into business and impressed the
Darwin, Marx, Freud, or from a still-Newtonian physics.”
businessman’s attitudes upon the soul of the nation.” Joseph
Czeslaw Milosz, On Erosion (1990)
A. Schumpeter (1883 – 1950) Average Cost (US Dollars) of Health Care per Person in “The invention of the secret is perhaps the most damaging
2016: (8)
outgrowth of the power produced when control over knowl-
United States
$ 9,892
edge was combined with the protective armour of specializa-
OECD (v)
$ 4,033
tion.” John Ralston Saul (4)
Difference
$ 5,859
The most significant issue relating to current interest rate
(v) Organization for Economic Cooperation and Development
theory lies in the inability of all world-wide governments to
(36 countries, mostly European and committed to democracy
use the age-old interest rate economic tool to assist in their
and the market economy.)
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MBE BUSINESS MAGAZINE OCTOBER 2020
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Multiplying this per person health care difference by the U.S.
Comparison of a Country’s Labour Force to Eligible Voters:
population generates a country total of just under $2 Trillion.
Labour Force (a)
Eligible Voters (b)
This $2 Trillion represents approximately 11% of the United
Germany
45,900,000
57,700,000
States GDP in 2016 – equal to 100% of Italy’s GDP (popula-
Canada
19,500,000
23,300,000
tion 60.5 million) – solely from overcharging health care
United States
160,400,000
183,300,000
services to the 99%. Yet excessive costs are not the most
(a) Average from various sources
serious issue facing Americans. The U.S. has tens of millions
(b) www.worldpopulationreview.com (2019)
of people with minimal (sometimes no) health care coverage. It is ranked 35th in life expectancy, and has the highest infant
A sizable portion of the population would be significantly
mortality rate among OCED countries – even with spending
underrepresented, if Business controlled and managed the
2.45 times more person than their OCED peers!
State. Comparison of a Country’s Population to Number of Federal
SEPARATION OF CHURCH, STATE AND BUSINESS
Constitutions:
“But modern democracy is a product of the capitalist process.” Joseph A. Schumpeter (1883 – 1950) “The true aim of government is liberty.” Baruch Spinoza
Population (3)
Constitutions
Germany (c)
83,5000,000
1
Canada
37,400,000
1
United States
329,000,000
1
(1632 – 1677) (c) Basic Law of the Federal Republic of Germany “Are the material fruits of capitalism – which is by far the most
The entire population would be proportionally represented, if
productive economic system ever devised – worth the social
the State was managed according to its respective Constitu-
costs?” Joseph A. Schumpeter (1883 – 1950)
tion, as there is only one variable – laws are set and everyone (Church, State and Business) must obey all of them equally.
“But corporations, no matter how well intentioned, should not
There are approximately 4,200 religious and spiritual
be running the government.” Robert F. Kennedy, Jr. (2004) (6)
traditions in the world and all manner of business approach-
“Let the welfare of the people be the ultimate law.” Cicero
es; but there is only One Constitution for a country: with the
(106 BCE – 43 BCE)
‘People’ in charge employing their all-important One Person / One Vote.
Population Not Needing Church Related Government Representation: Atheists/Non-Religious
Population (3)
Germany
60 %
83,5000,000
Canada
57%
37,400,000
United States
39%
329,000,000
Obviously, a significant portion of the population may not be adequately represented if the Church controlled and managed the State. “The greatest tragedy in mankind’s entire history may be the hijacking of morality by religion.” Arthur C. Clarke, Credo (1990) “When individuals cannot allow their religious loyalties to be trumped by their public responsibilities, they should resign.” A. C. Grayling, (2015) (1) “… not only is religious faith part of capitalism, capitalism is itself also a religion, and it too relies on faith (in the institution of money, amongst other things.)” Slavoj Zizek (2010)
W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE OCTOBER 2020
17
Effects of Pandemic on Real Estate in Canada SYED HASSAN Royal Le-Page, Royal Brokers
The world is experiencing unprece-
No doubt there will be an impact on
BNB or similar short term rentals are
dented times. Nobody in 100 years
almost all sectors of life. Let’s talk
in bad shape. The rental market in
has seen anything like this pandemic
about Real Estate in Canada.
general is showing weakness. There
- Covid 19. All of a sudden the
is too much inventory in the market
curtain has dropped. The most
In the beginning of 2020, everyone
lucrative businesses are gone, new
was expecting a sharp rise in prices
norms are in place; working from
and demand of properties. In
Downtown and City demand is
home, education from home, restau-
February the real estate market was
weakened due to people working
rants, offices, cinemas, schools,
getting crazy.
from home and new health guidelines
colleges, universities, hotels and
for rental.
requiring people to wear masks and
almost everything you name it, is
During the period from March to
frozen in time.
June, the real estate activity was
no social gatherings etc.
stopped dead in its tracks or brought
These trends will affect the invest-
Whole sectors were and are badly hit
to a standstill. Since mid-June and
ment category especially for forthcom-
like education, tourism, travelling,
July we have seen a very busy real
ing Condo Projects. Due to the high
airlines, hotel, restaurants, retail and
estate market.
prices of Condos and less return on
a number of other sectors. Now in
rentals, this will create a gap and
certain countries, things are coming
But certain trends are on the rise.
back slowly like New Zealand,
The Rental Condo inventory is piling
Australia and Canada. We should
up and not moving. Properties
Home sales are going well so far and
appreciate our Canadian Leadership
around $500,000 to $750,000 are
look like they will hold their value. A
and Health sector for this.
selling very fast. Downtown condos
reason for this, is new construction is
for sale or lease are not moving. Air
still slow and most of the time,
18
MBE BUSINESS MAGAZINE OCTOBER 2020
potential problems for investors.
W W W. M B E F O RYOU. C O M
houses are delivered in Pre construction within 1 year. That holds the buyer on ground and not in speculation. Due to new challenges with regards to health guidelines, social distancing, restricted air travel and border closings, people will prefer to stay close to home and as a result, the commercial real estate market including retail businesses and outlet malls will be experiencing many more challenges than the Residential real estate market. Many businesses that you thought could stand the test of time, will close and never return. So what should we do in these circumstances? I would suggest the following: • Definitely take advice from a Professional, like a Realtor, Lawyer and/or Investment specialist. • Don’t rush • For first time buyers, do not worry too much. Things will eventually be back to normal and will not affect primary home buyers. • Rent your current rental properties: Do not wait for short term rentals and very high rental amounts as in the past. • Existing Rentals: Do not disturb your current tenants. Be wary of increasing rent or trying for higher rent for any new tenants or notice to vacate. • If possible, a 30% - 40% down payment on any investment property, as mortgages will be tough and hard to get over the next few years. • If offered, sell any property you have if it has reached its maximum in terms of price gain. This step will easily give you leverage to close other forthcoming investment properties. • Do not re-finance current properties to invest in future projects. • Keep a cushion of 4-6 month rental income for any investment property just in case your property cannot be rented right away.
W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE OCTOBER 2020
19
OCTOBER
EVENT 2020 CALENDAR OCT 3
SATURDAY
First day of Sukkot
OCT 4
SUNDAY
Feast of St Francis of Assisi
OCT 9
FRIDAY
Hoshana Rabbah in Canada
OCT 11
SUNDAY
Simchat Torah
Many Jewish communities in Canada the first day of Sukkot (Succot, Succoth, Sukkoth), which is the start of the Sukkot period. This period, also known as the Feast of Tabernacles, lasts for about seven days. It is observed during the week starting on 15th day of Tishri (or Tishrei), which is the first month of the year in the Jewish calendar.
Many churches in Canada celebrate the Feast of St Francis of Assisi on October 4 each year. The feast commemorates the life of St Francis, who was born in the 12th century and is the Catholic Church’s patron saint of animals and the environment. It is a popular day for pets to be “blessed”.
Many Jewish people in Canada mark Hoshana Rabbah (or Hoshana Raba) as the last day of Sukkot (Succot, Succoth, Sukkoth) in their calendars. This day is the end of the Sukkot period, also known as the Feast of Tabernacles. The Sukkot festival is observed during the week starting on 15th day of Tishri (or Tishrei), which is the first month of the year in the Jewish calendar.
Many Jewish communities in Canada celebrate Shemini Atzeret (or Shmini Atzeret) and Simchat Torah. They mark the end of the Sukkot (or Sukkoth) festival.
OCT 12
MONDAY
Thanksgiving Day in Canada Thanksgiving Day in Canada has been a holiday on the second Monday of October since 1957. It is a chance for people to give thanks for a good harvest and other fortunes in the past year.
OCT 18
SUNDAY
Healthcare Aide Day Healthcare Aide Day is not a public holiday. It falls on Sunday, 18 October 2020 and most businesses follow regular Sunday opening hours in Canada.
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MBE BUSINESS MAGAZINE OCTOBER 2020
W W W. M B E F O RYOU. C O M
OCT 29
THURSDAY
Milad un Nabi (Mawlid) in Canada
OCT 31
SATURDAY
Halloween in Canada
Many Muslims in Canada celebrate the Prophet Muhammad's birth and life or mourn his death on Eid Milad ul-Nabi (Mawlid, Milad-un-Nabi). The date occurs during the Islamic month of Rabi' al-awwal. Some Muslims mark this occasion by fasting or with parades, special prayers or conferences.
Halloween is celebrated in Canada on or around October 31. It is a day to mark the single night in the year when, according to old Celtic beliefs, spirits and the dead can cross over into the world of the living. Some people hold parties and children may trick-or-treat in their neighborhood.
CROSSWORD PUZZLE SOLUTION
MONTH AUG - SEP
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I O N I A
S P E C S
O Y L S
Z O O M
W W W. M B E F O RYOU. C O M
S A B I M D E N E S E C R E H U E B I B I L I V I N I N E E D S N U F L A T H O U G E R G Z I E C U R V E R L E T A U R O M
J O E Y G R A P H N Y S E
E D I E X E N R T O F L I S A U N R N S E A C H D A C Y E R K A C A N A I T M A Y D O N T O T E H L A S T O L I E L S A N E
D A F T
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MBE BUSINESS MAGAZINE OCTOBER 2020
21
AN EMPLOYMENT RECOVERY IN CANADA POST COVID-19 DMM DEPARTMENT MB Enterprises
Statistics Canada has shown
payroll employment, earnings and
employment losses slowed gradually
incredible recovery after COVID-19
hours worked in Canada. The total
in retail sector. The April figure saw a
has taken new heights. It has shown
number of employees on the payroll
loss of approximately 279,000 that is
significantly that the Coronavirus
was seen on a decline by 1.8%. On
in comparison to May only about
lockdown caused a sharper decline
the other hand the average weekly
41,800. This is primarily due to the
and a sharper recovery than previous
earnings rose to 2% to the figure of
impacts of COVID-19 being fresh.
economic downturns. Since
$1,139 in the month of May.
The hours worked in retail were also
COVID-19 has been a cause of
affected due to COVID-19 measures.
Canadian economy similarly it has
JOB LOSSES – A DECLINE IN RETAIL SECTORS:
Hence, the total hours worked in
affected the rate of employment in
In the retail sector Job losses were
retail trade in the month of May rose
Canada. This is seen as a huge trend
seen on a decline which means
2.6% as compared to the month of
in sectors that relates to services
recovery that has been fast and
April. The lock down in April was on
industry as well as affecting the daily
impactful. An increase in the retail
the rise and most of the retail
income of many people in various
sales by 18.7% is huge in Canada as
industry was found to be closed
sectors.
compared to other countries that
which automatically laid an impact to
concern for many sectors in the
were impacted by the COVID-19.
the jobs in retail sector. However,
A key reason being the economic
Although, this rise in retail industry
while we discuss the rises and
activity in Canada that has been on a
sales is below 20% as compared to
declines it is important to realize that
decline since COVID-19 reached its
what they were in month of Febru-
there has been variances in the retail
peak and many sectors were under
ary? The balance was found incredi-
sectors. For example, Motor Vehicle
lockdown in Canada. The Statistics
bly on the other side i.e. it was seen
and part dealers in Canada and
Canada survey is a body that
on the high in payroll employments.
building material in construction and
provides monthly information on
Since February every month, the
garden equipment supply dealers
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MBE BUSINESS MAGAZINE OCTOBER 2020
W W W. M B E F O RYOU. C O M
saw about a 4% increase. Similarly while we discuss the average weekly earnings in the retail sector were about $676 in the Month of May. This is a huge 10.5% as compared with the same time i.e. last year.
THE HARDEST HIT SECTORS IN CANADA: The Canadian economy although not hurt like economies in Europe but there are some sectors in the Canadian economy that has been hit hardly. This is mainly because of the amount of FDI i.e. Foreign Direct Investment involved in the sector output. The Accommodation and Food services sector was the hardest hit sector in the Month of May. It showed a loss of 16.9% i.e. reflecting 116,500 jobs and was the largest payroll employment decline. This sector has continued on a downward trend since February and has seen incredibly over 770, 000 jobs losses. Other stats related to the food industry were in the drinking places and food services areas. The average weekly earnings were identified to be over $447.75 in the month of May i.e. seen to be the lowest amongst all the subsectors in food and beverage industry. In the hard hit section in retail industry Canada also included the arts, entertainment and recreation sector. A huge and very sharp decline of 557.7% from the month of Feb to May was mainly because of losses in sectors of amusement, gambling and recreation industries. Also due to lock downs and following strict compliance to safety measures there were some subsectors that were highly affected in the arts and entertainment. These are performing arts, spectator sports and related industries that saw massive declines due to COVID-19. Huge losses were also incurred by lower-paid workers that brought the average weekly earnings up 27.3% i.e. from 2019 to $798 this year.
RECOVERY IN EMPLOYMENT SECTOR IN JUNE: The activity in employment sector due to COVID-19 has found to be a bit on the abnormal side as compared to 82 recession, 92’ recession, and finally the 2008-09 recession. The stats of the Labor Force Survey that were released in early July said that the initial recovery in the Canadian employment was seen on the sharper side than the previous economic downturns. The lock down in Coronavirus has caused the employment fall to 15.7 % in just a period of two months. This is vitally high as compared to 2008-09 recession which saw a drop of just 2.5% in the period of nine months. These results if analyzed in contrast to each other has shown significantly how COVID-19 has dented the Canadian economy with respect to the magnitude of job losses.
W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE OCTOBER 2020
23
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CRAFTING USEFUL BUSINESS STRATEGIES INTO A POST PANDEMIC WORLD DMM DEPARTMENT MB Enterprises
Making successful business
However, this has been noted largely
the indigenous people. Those who
strategies into a post pandemic world
that the lockdown phase of the
are the originals, their worth is more
is a huge necessity, especially to
pandemic has fueled an explosive
recognized in terms of the upcoming
make contingency planning &
growth in online e-commerce. This is
stability and future sustainability.
re-enforcement of the recovery
highly related to online buying and
process. This is a vital responsibility
the online shopping trends.
HANDLING & CONFRONTING NEW RISKS: Addressing the emerging risks,
of key individuals especially the
especially for the businesses is a key
is mainly due to the change manage-
FOCUSING ON KEY INDIVIDUAL & SOCIAL CONCERNS:
ment that has occurred in organiza-
The focus has largely been seen on a
hazards. These risks include data
tions due to COVID-19 and its effects.
change as compared to other
security, litigation and employee
As we discuss the change manage-
financial crisis like the one happened
gross misconduct.
ment, the trends and the norms that
in 2008. This is unlike the credit crisis
were applicable prior to the pandemic
of 2008, the COVID-19 crisis has
The pandemic, i.e. COVID-19 has
have seen an acceleration that is
heightened focus on the individual
brought on the awareness levels
positive.
and social concerns. The focus has
regards to the importance and
also switched towards intensified and
significance of data security issues.
Primarily, this is for businesses to
sustained public focus on very key
These also includes corporate best
keep a focus on their strategies,
social issues. Includes civil rights,
practices, digital platforms for
especially the challenging ones.
anti-racism, and a reconciliation with
payments, privacy issues and cyber
senior corporate leaders. Hence, this
26
MBE BUSINESS MAGAZINE OCTOBER 2020
aspect towards analyzing potential
W W W. M B E F O RYOU. C O M
security problems. Largely, due to the increase of online shopping and e-commerce activities being on an increase in times of lock-down. Another risk that is of huge concern is employee gross misconduct. This is for the organizations when it comes to internal risk mitigation. Staying away from work for a rather high amount of time can effect organizational behavior, while increasing the employee misconduct future risks.
CAPITAL RAISING- A CRITICAL CONCERN: Another huge risk associated is the capital raising for new and old businesses. This is post COVID-19 era and immediately after the lockdown gets over with. The Govt. stimulus programs and the low interest rates are the ones that are bringing rise to favorable debt. This is for the debt capital market conditions for the corporate issuers.
WHAT NEEDS DOING IN FUTURE? Taking lessons for the future in such scenarios is highly needed in current times. While, the COVID-19 is already a fundamental challenge to the economy and the society, how to combat such a situation in future is what needs to be considered? Hence, this crisis has been a cause of the acceleration of many changes that are already underway in the specialized markets. Furthermore, it’s been the cause of many change management programs in organizations, especially talking about the MNC’s.
W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE OCTOBER 2020
27
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EATING DURING COVID-19: IMPROVES YOUR MOOD & LOWER YOUR STRESS LEVELS
DIGITAL MEDIA MARKETING MB Enterprises
How eating habits is affected during
knowledge of what it is about.
er Apps: Staying connected through
COVID-19? An answer many people
There are hardships in coping with
apps while you can’t socialize or
are looking for as it improves mood
COVID-19 and not reaching your
mingle with people will always help
and helps in lowering the stress levels.
favorite salty, crunchy snack because
you enjoy your food. Staying connect-
Food is always the best way to
of the boredom factor that arises due
ed through Skype, Zoom or FaceTime
generate your happy hormones,
to COVID-19.
with your close friends and Family will
especially helps to encounter the
help you stay connected. It will also
stress due to COVID-19. Naturally, it is
MAKING GOOD FOOD CHOICES:
help you share recipes and even cook
something many people haven’t
It’s necessary indeed to make healthy
together as a hobby or something to
experience but keep a generalized
and good food choices while fighting
keep you busy mentally.
idea of how things can change during
the COVID-19 from home.
the pandemic. Because of social
• Making Schedule Or Daily Meal
• Planning For Groceries: Planning
distancing and lock downs children
Plan: Making a daily meal plan will
your groceries is yet another identify-
and entire families are home together
always be a huge factor in controlling
ing factor that shall keep you mentally
all day. This has also caused work and
moods and also you will know what
busy and happy. Best thing is to buy
school schedules disrupted, loss of
you are eating every day. It is
fewer processed, high sugar snacks
daily routine increasing anxiety and
something that is more predictable for
and high-salt.
disturbing the healthy routine. A huge
you and everyone in your household.
reason for anxiety is because of uncertainty or having very low
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MBE BUSINESS MAGAZINE OCTOBER 2020
• Managing The Environment: It’s true • Staying Connected Through Comput-
that you shall be having some W W W. M B E F O RYOU. C O M
environment restrictions i.e. you will
and red bell peppers. Citrus fruit is
be alone and enjoying your food on
both rich in Vitamin C which is good in
HOW COVID-19 HAS AFFECTED DAILY LIFE & ROUTINE:
your own. You have to enjoy with your
improving the immune system so that
Staying home due to the pandemic
media options that includes T.V.,
you can fight any disease easily from
COVID-19 can be a huge challenge
computer, Your Digital apps on phone
the inside. Adding spices to soups,
for many people especially those who
and laptop or while watching your
stews or salad dressing can be highly
are busy daily due to business or job
favorite football match. If the candy is
helpful in terms of taste as well as
routines. The challenge is big as it can
missing from the cupboard than
health. Try to use food that holds its
increase the anxiety levels including
simply you can’t eat it.
richness in Zinc, this includes Oysters,
boredom factors.
clams, cashews, liver, beef, and egg • Saving Money: At the same time
yolks.
isolation is the best way you can save
People can abandon their daily routine, healthy eating habits and
money as well. You can skip the
Zinc is good for health as Zinc has
casual snacking. However, with proper
high-sugar soda and juices, instead
ingredients that help in virus fighting
planning & thought you can make
have flavor water with edible citrus or
and disease prevention. Omega 3
good food choices and boost your
berries.
present in fatty fish will definitely help
immunity and mood. Exercise can
fight and reduce anxiety. We are
also help in boosting moods and also
• Load Up: Load up yourself with a
talking about the anxiety associated
it will make you happy and relaxed
variety of vegetables while you enjoy
with COVID-19 and while staying for a
during COVID-19 lockdown.
your favorite ones along with mixed
long while at home.
vegetables. Also enjoy the variety in whole grains, healthy fats and lean
Finally, adding some antioxidants to
proteins to keep you fit. This is
your anti-anxiety diet will be a huge
because sitting at home constantly
support for your immune system. It will
can make you lethargic and unhealthy
help daily in fighting against any
due to lack of movements.
symptoms of a virus minor or major. Its daily use will definitely help in
BEST WAY TO REDUCE ANXIETY & BOOSTING IMMUNITY:
reducing your anxiety and fear associated with Pandemic COVID-19.
The things that are best to improve your immune system is Citrus fruits W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE OCTOBER 2020
31
GLOBAL SUSTAINABLE TOURISM CONFERENCE BRITISH COLUMBIA DIGITAL MEDIA MARKETING MB Enterprises
The Global sustainable Tourism
attractive province with gorgeous &
gorgeous urban architecture and
Conference is an event taking place in
mega cities like Victoria and Vancou-
landscapes. The announcement being
the Mid-November 2020 in British
ver is investing huge numbers on the
a key one was made last year in
Columbia. Ironically, it is an event
sustainability of its tourism sector.
Terceira Island, Azores on 6th
taking place for the sustainability
This is a sector that has been
December 2019 by GSTC CEO
measures that are regularly in place
neglected since many years is now
Randy Durband and Thompson
for the Tourism industry in Canada.
being taken care of because of the
Okanagan Tourism Association
Similar to Ontario Tourism Summit,
sustainable measures needed. The
(TOTA) CEO Glenn Mandzuik.
the event is of huge magnitude in
Tourism conference shall be taking
terms of the number of people coming
place from 19th Nov – 22nd Nov 2020’
This event will welcome over 300
to the conference in the Province.
and is hosted by Delta Hotels by
international leaders together with 200
Irrespective of the current scenario
Marriot Grand Okanagan Resort in
being the local ones and the national
that relates to COVID-19, the confer-
Kelowna, British Columbia. The
delegates from British Columbia and
ence holds huge significance for the
Province ranks 5th in the list of
rest of Canada. The main aim is
residents of British Columbia. A very
provinces in Canada, and is full of
sustainability of International Tourism
32
MBE BUSINESS MAGAZINE OCTOBER 2020
W W W. M B E F O RYOU. C O M
in Canada, especially in the Province British Columbia. A
It was a major contribution on part of The MBE Group
sector that is highly affected since last few months due to
towards sustainability measures in the Tourism industry in
pandemic COVID-19, is a massive contributor to the Canadi-
Canada. The country is blessed with true beauty of nature in
an economy. These are key contributions for marketing
terms of its gorgeous lakes, rivers, wildlife parks, streams, &
professionals, airlines, ticketing and reservations, travel
Water falls e.g. The Niagara Fall. Like the Senator Hotel
agents and tour operators as well as the international media.
Timmins, Algonquin Lakeside View is playing a massive role in promoting tourism activities. A holiday resort surrounded by
MBE & THE TOURISM CONFERENCE- BRITISH COLUMBIA:
a beautiful lake and a Wild life Park welcomes thousands of
MBE’s contribution in the Tourism industry has been a highly
visitors every year. MBE is highly positive regards to the
recognized one, especially after the acquisitions of Senator
conference taking place in British Columbia in relation to the
Hotel & Conference Centre Timmins, and Algonquin Inn
relevant sustainability measures. Especially in times of the
Lakeside View in 2019. Therefore, stepping into the Hotel &
current pandemic, the step is indeed a brave one, just for the
Tourism industry has been highly prestigious for The MBE
sake of Tourism industry Canada. The losses that have been
Group. The last year’s Ontario Tourism Conference that took
taken by the industry in recent times have been huge in terms
place in Timmins was a highly successful and a recognized
of the job losses as well as the financial risks.
event.
W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE OCTOBER 2020
33
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HOW CLIMATE CHANGE COULD EXPOSE NEW EPIDEMICS DIGITAL MEDIA MARKETING MB Enterprises
Climate change has been a major
humanity and their constant encroach-
homo-sapiens or the mankind is their
cause of concern in Canada and
ment on the planet’s dwindling wild
unwanted ignorance. This ignorance is
many places in the North American
spaces. The change in climate
regards to the impacts that relates to
continent. It can be a cause of new
referred most commonly as the
global climate change. A phenomenon
pandemics as well, according to most
climate change is very rapidly
that holds huge and significant factors
recent stats from WHO, The World
emerging as a key driver of infectious
of rise in new epidemics. Ironically,
Health Organization. The pandemic
disease. This is either by the expan-
pandemics and epidemics have some
COVID-19 that has been a cause of
sion of footprint of malaria, and
biological and other reasons that are
many deaths is the world’s most
dengue carrying mosquitoes, or finally
related to an abnormal rise or fall in
dangerous in terms of mortalities,
defrosting pre-historic pathogens from
temperatures. Since the very start of
destructions, and other losses of
the Siberian permafrost.
industrial age, also known as Industrialization, or a transformation to the
similar nature. The pandemic that has claimed over 760,000 lives so far was certainly an origination from wild bats. It highlights the dangers exposed to
36
MBE BUSINESS MAGAZINE OCTOBER 2020
‘MANKIND’S BIGGEST ENEMY IS IGNORANCE’:
industrial world. A climate change
As the nature is full of microorgan-
Canada and a massive region called
isms, the biggest enemy for the
Alaska that contains almost three
platforms spreads across Russia,
W W W. M B E F O RYOU. C O M
times the carbon. This is three times to the carbon that has
there has been a huge rise in the diseases that can easily kill
been emitted since the start of the industrialization or the
half a million people per year. These includes malaria,
Industrial Age. Carbon Footprints are the worst thing happen-
dengue, chikungunya and Zika, being the ones that are
ing in modern times and are highly prone to increase epidem-
caused by mosquito bites. These are epidemics that have
ics and pandemics.
been cause of many deaths in the past, and numbers are still
According to the IPCC, or UN’s Climate Science Panel, even
counting. Occurs from changing weather conditions, impurity
if the humanity manages to stop or limit global warming to -2
in elements and stagnant water or impure water.
degree Celsius. A goal that is set by the 2015 Paris Agreement as threshold of safety to stop climate change. Hence, by
Hence, according to a national lab in New Mexico (North
the year 2100, the Permafrost area will decrease by a
America), mosquitoes that are moving their range north are
quarter.
now able to overwinter in some temperate regions. These mosquitoes have longer breeding periods, hence more
RISING DANGERS TO THE ENVIRONMENT:
fertility increasing the risks for human life. The research
Apart from the many rising dangers associated to the
conducted has been part of the efforts made by officials from
environment, there are many epidemics and diseases that
Bio security & Public Health. It’s not only the awareness
are also associated. These are all related with the industrial
regards to the pandemics and epidemics that is related for
exploitation of the Arctic all the risk factors are virtually
future safety. It’s the vital efforts that people are making, and
evident. These includes Pathogens and the people that are
should continue doing to combat issues related to the Climate
most likely to carry them. With the climate change in effect
change. An immense amount of change that we need for a much safer environmental sustainability.
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MBE BUSINESS MAGAZINE OCTOBER 2020
37
CROSSWORD PUZZLE
DOESN'T SOUND SO HUGE ACROSS 1 Fitness centers 5 Three sharps key: abbr. 9 Bad shot shouts 14 Dry riverbed 15 Long sentence 16 Suggest 17 " ... have __to stand on" (2 wds.) 18 __ the Impaler (Dracula prototype) 19 "Good Will Hunting" star Matt 20 Her big break came in the co-starring role with 19-Across 23 Altogether (2 wds.) 24 Mournful poem 27 Fam. reunion attendees 29 Take a psychedelic journey (2 wds.) 31 Pres. before FDR 34 Vehicles that played a big part in “The Italian Job" 36 Home of Cincinnati, Cleveleand and Columbus 38 Drink suffix 39 Mex. miss 40 Big Minnesota city near St. Paul 45 Georgia, to Gorbachev: Abbr. 46 They're typically either collect-ibles or clunkers (2 wds.) 47 Astronomical meas. (2-wd. abbrev.) 49 Because of (2 wds.) 50 Symbols of slowness 54 Big roles for Octavia Spencer in "The Help" 58 Kitchen item with strings 61 Q-Tip 62 Novel conclusion? 63 Wide-eyed and bushy-tailed 64 Popular Danish shoe brand 65 Minute amount 66 " .. .isn't my first __ " (i,e., I've been around the block) 67 Like badly ap plied makeup 68 Breakfast area
5 Air
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24 27 32
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28 34
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30
43 47
49
58
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45 48
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sacs in the lungs 6 Temperate 7 Off yonder 8 "Star Wars" warrior 9 Beethoven opera set in Seville 10 Dr. iForeman's portrayer on "House" 11 Tach measure 12 "Rock 'n' Roll Is King" band, for short DOWN 13 Thesaurus feature: Abbr. 1 Mystic 21 Bit of gossip 2 Would-be Vice-Maverick Sarah 3 Make __ in (get a start on) (2 wds.) 22 Florida's Beach 25 People on the move 4 Milano Mr.
26
13
39
46
54
25
29
38 41
12
35
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40
11
22
23
31
10
26 Asian tents 28 Ginger cookies 29 Immune response orchestrator 30 Pre-1917 ruler 31 __ sapiens 32 Kid 33 Yoga practitioner 35 Bachelor's last words 37 Over (2 wds.) 41 Corrode (2 wds.) 42 "East of Eden" brother 43 Baby blue cigar band message (3 wds.) 44 In (harmonious)
48 Earn tons of, as dough (2 wds.) 51 2-word school yard retort 52 Kind of ticket 53 Word before "preview" or "thief" 55 Tiny time period: Abbr. 56 Leadership org. for females: Abbr. 57 Candlestick jumper of rhyme 58 Swiss river to the Rhine 59 Arafat's org. 60 Cabernet, e.g.
See previous issue answers on page # 21
38
MBE BUSINESS MAGAZINE OCTOBER 2020
W W W. M B E F O RYOU. C O M
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HOW THE CORONAVIRUS CRISIS IS CHANGING THE INSURANCE INDUSTRY DIGITAL MEDIA MARKETING MB Enterprises
A huge reason for the change in the
decline since the great depression of
support for businesses through crisis
insurance industry is due to the
the 1930s. A comparison that is not a
and disasters. Significantly, this is the
coronavirus crisis. An international
worthwhile one due to the huge
sector that stays active at the forefront
crisis that has been the cause of
involvement of time, as well as the era
or frontline during the current challeng-
many changes in the business &
in time. However, the calculative
ing days. The effective ways to cope
economic world. The insurance
measure is true regards to the stats
up with the current situation is to
industry holds huge level of concerns
involved. Unfortunately, there are
highlight the lessons from the pandem-
with the associated risks that can
many economies that are currently
ic as well as learn to adapt. Adaptabil-
easily change with the current course
witnessing recession and these vital
ity, is not only vital in getting to the
of time. However, the circumstances
economies includes USA, UK,
results, but also getting along with the
holds many values while making
Canada, France & Germany. These
situation while making positive moves.
evaluations regards to the associated
are the major economies of the world,
Showing higher amounts of flexibility
risks.
especially, US, Germany, UK & France
and adaptability in the insurance
being the key contributors in the
industry is the best way to stabilize the
global insurance industry.
various sectors linked to vital econom-
Hence, according to the IMF or the International Monetary Funds, the
ic powers.
Global economy will shrink by a huge
During these challenging times, the
3 % which is seen as the worst
insurance industry that is a huge
40
MBE BUSINESS MAGAZINE OCTOBER 2020
W W W. M B E F O RYOU. C O M
INSURING A PANDEMIC CAN BE HARDER:
throughout the world, especially in North America from
Pandemics similar to the Coronavirus outbreak are different
adapting to the COVID-19 lockdown will definitely play a key
in nature to other calamities like the natural disasters,
role in shaping the pandemic insurance policies. The
tsunami and other similar catastrophes. These disasters are
insurance policies have been molded & changed according to
area specific and can hit a certain region where there holds a
the changing pandemic conditions and the time frame of the
history of natural disasters and calamities. Scientifically
lockdown. All affecting businesses and work activities globally.
speaking, disasters are highly dependent on geographical or
Therefore, this is not just a territory bound issue, it’s a
topological divisions. However, pandemics and epidemics
financial binding more or less associated with all the
don’t have any boundaries and can happen anywhere
COVID-19 affected countries & regions.
irrespective of the geo significance. They also have a highly unpredictable nature which means one can’t predict how long it can take to wipe out. Simply, the time frame is unpredictable, the magnitude of the disaster is difficult to determine and similarly many other factors associated are harder to analyze. Hence, there are many innumerable reasons why a pandemic or an epidemic is hard to ensure. The unpredictable nature of a pandemic is why the insurance industry can behave a bit different from normal. The experience that has been gained
41
MBE BUSINESS MAGAZINE OCTOBER 2020
W W W. M B E F O RYOU. C O M
How the experience of colonialism is linked with the idea of development and Globalization
DANIYAL H. GHALLOO
We as humanity have come a long
extensive reach? Was it just a
compare and resulted in nations being
way with our appetite for progress. As
development or was it something
categorized as “developed” or
a civilization we have advanced so
else? This article will argue on how
“underdeveloped”. Development as
much that we could easily find out
the idea of development is linked with
we see it now is more associated with
what was happening on the opposite
the experience of colonialism, and
main development indicators such as
end of the world, in a click of a button.
how both of these have helped foster
GDP growth, HDI. The main idea
If we really wanted, we could even go
globalization.
behind GDP as an indicator for
there ourselves in a matter of hours.
development is that countries that
This is the result of the phenomenon
In order to understand the modern
have a high economic growth are
we call globalization. But what exactly
concept of “development” we have to
likely to have a better quality of life,
made globalization possible? We
refer to the Inaugural Address by US
such as in terms of literacy rates and
could say that it was development in
President Harry Truman in 1949, in
life expectancy, which often translate
the form of scientific advancements
which he mentions the “underdevel-
towards the Human Development
and we wouldn’t be wrong. But this
oped areas” inferring that there is a
Index. There are several factors that
wouldn’t be the only force behind
universal measure of development
allow for growth such as the discovery
globalization. England had been
through which countries could be
of new resources i.e. minerals, metal
recognized as a global power since
surveyed against a particular
deposits. An increase in the quality of
1920s but how did it developed its
standard. This standard was used to
the workforce, through education,
42
MBE BUSINESS MAGAZINE OCTOBER 2020
W W W. M B E F O RYOU. C O M
training. An increase in capital
case of farmers where more farmers
rising, which again leads into the
investment and machinery, which
on a piece of land resulted in diminish-
general understanding of develop-
allows for an improvement within
ing returns. Higher levels of lifestyle
ment.
technology.
also resulted in higher amounts of wages. This was mainly the result of
An increase in the innovation rents are
Britain’s development itself was
Britain finding cheap labor in the
a viable explanation as to why the
dependent on its vast empire. Where
colonies while labor in their own
industrial revolution happened in
much of the development was set for
country became much more expen-
Europe. Britain was also a country
the core through the transfer of wealth
sive. This resulted in the rise of capital
that needed to increase the speed at
from the periphery. Colonialism
or energy intensive technologies
which trade happened, which leads us
allowed countries to set up colonies,
which led into the industrial revolution.
to the concept of globalization.
which were mostly motivated by
According to Bob Allen the Industrial
Globalization is the process of
religious and financial motives.
Revolution occurred in Britain
internationalization of goods and
Western colonialism such as in the
because of the investments in capital
services. David Harvey defines
case of British, Portuguese and
intensive technologies. Bob gives the
Globalization as compression of time
Spanish were joint public private
example of Hargreaves spinning jenny
and space, the fact that we can travel
ventures. The Spanish managed trade
which was made through the patent
longer differences in a shorter time. It
through its colonies by laws and
registration in the 1760s. Bob
was technology that sped up the
allowed only trade with its mother
questions why Hargreaves went
economy after all. If we were to see
country, while the French, English and
through 5 years of effort and 100s of
the majority of development in these
Dutch converted trade monopolies
pounds of investment just to make the
colonies, we would see that these had
into joint stock countries, such as the
spinning jenny. The answer is in
been majoritavely agricultural
Hudson’s Bay company and East
economic rents. Simply because it
countries with developed transport.
India Company. The Colonialism
was more profitable than all other
India in particular had very developed
allowed these countries to find new
methods to do so at that particular
railways and this was against to
resources but also cheaper labor
time. As Britain’s commercial empire
transfer wealth from the periphery to
which further allowed them to expand
was expanding and labor was
the core. We could even claim that this
their own growth rate and develop.
becoming scarce and therefore
sort of development rather than
The development up till this point was
expensive, before this time the wage
increase the standard of living for the
very linear. While the British enjoyed
of women was much lower as
people of India helped foster their own
their new lifestyle there was an
compared to men, but also even lower
exploitation and may have even
increase of population within the
relative to the investment in the jenny
resulted in major famines. The Bengal
country which balanced the real GDP
which meant by hiring these women
famine 1943 was one such, as people
of the country.
Hargreaves would have received an
had given up all of their produce by
This very idea of development could
economic rent. This made it more
orders of the British and 3 million
be seen arising from how the
worth the investment to hire women
people starved to death.
developed countries managed to
than to improve on the technology. But
Once the countries in the west had
break through the Malthusian trap.
this changed when the wages for
left these colonies and started to
The idea of Malthusian trap came
women also started to rise. The idea
appreciate the living conditions in their
from an economist Thomas Robert
of creative destruction by Joseph
homeland they felt once again as if it
Malthus, who argued that the food
Schumpeter is another factor which
was their duty to help those that were
production of the world is growing
would emphasis the importance of
less fortunate. After all, one of the
linearly whereas the population
economic rents, which would have
effects of globalization was the
growth is exponential, thus resulting in
further led into innovative rents. In
circulation of discourse where there
an inability of the world to sustain crop
essence any form of increase in the
were pictures being scattered around
production in order to feed its
wages of workers would have motivat-
the media depicting the impacts of
ever-growing population. This popula-
ed energy-intensive technologies,
malnutrition, death and disease
tion growth is only possible with a high
there were numerous factors that
present in the third world. What was
standard of living, where the subsist-
could have resulted in doing this. Such
conveniently left out was that majority
ence level is much higher, and
as how the extension of right to vote
of the third world countries were all
Malthus argued that this would stay in
gave workers more bargaining power
former colonies that were stripped of
equilibrium. This was evident in the
and therefore resulted in their wages
their resources.
W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE OCTOBER 2020
43
IMMIGRATION GUIDELINES FOR ‘PR’ APPLICATIONS IN COVID-19 DMM DEPARTMENT MB Enterprises
The latest Immigration guidelines for
in Canada for the sake of business,
to some missing documentation shall
PR’s or Permanent Residence
and permanent settlement. These are
be retained and reviewed within the
applications in response to the
also people who have applied earlier,
first 90 days of the application filing.
COVID-19 has been released by the
i.e. Pre-COVID-19 and are waiting for
However, the completed new
Canadian Govt. These are policies,
the response regards to their
applications for permanent residence
procedures & regulations in response
respectable applications. Hence, the
will continue to be processed
to the COVID-19 developments &
IRCC, a sound organization or a
according to the normal procedures
how they are shaping up.
Govt. body is highly responsible for
as they use to happen pre-COVID-19.
the activities that relates to Canadian
As part of the flexibility measures, if
According to immigration experts &
immigration and fast response. They
in-case fresh application lacks
advisers in Canada & around the
have been successful in issuing the
supporting documentation. In that
world, immigrating to Canada can be
latest guidelines that are published
scenario, it will be with an explanation
a challenge for fresh permanent
on May 29th, 2020 i.e. the set of the
for the application referencing service
residents. Hence, many are still
latest guidelines in the wake of the
interruptions due to COVID-19 travel
wondering that how the Govt. of
current happenings.
restrictions. The explanation shall be
Canada shall be addressing this
vitally important in terms of the visa
NEW IN-TAKE CONTINUES- THE LATEST HAPPENINGS:
processing. It may also result in the
happenings of COVID-19. The IRCC, or Immigration, Refugees and
The new permanent resident in-take
reviewed within 90 days. Hence, for
Citizenship Canada has issued a set
continues even though the Govt. of
the fresh applications or new applica-
of critical guidelines for the perma-
Canada has been facing many
tions they will be processed in the
nent residence applications. These
challenges. Hence, the files of the
order that they are received.
are people who are planning to arrive
applications that are incomplete due
situation in the wake of events &
44
MBE BUSINESS MAGAZINE OCTOBER 2020
application being promoted &
W W W. M B E F O RYOU. C O M
An application without an explanation will hold huge chances of the application or the file being rejected. Hence, an explanation is something apart from the norm, and holds huge priorities in the wake of COVID-19 happenings. Some flexible measures are also in progress that are in relation to the principal applicants. The applicants for permanent residence that are residing or currently in Canada but the dependents are abroad, will continue with their current process. However, there will be considerable delays that shall take place. In the wake of unfortunate circumstances if the principal applicant’s dependents are unable to travel, the applicant shall not be granted permanent residence.
APPROVED CoPRs & PRVs: The applicants having the confirmation of Permanent residence or a PRV i.e. Permanent Resident Visa should inform the IRCC in a timely manner while using a web form. This information should be regarding their current status, if they are unable to travel before the expiry of the document. Hence, this is important and holds vitality in case of COVID-19 circumstances and the file shall be than processed accordingly to the applicant’s current circumstances. Hence, people with valid CoPR and PRV and are unable and unwilling to travel needs to inform IRCC so that their current situation is an added thing in their file. Hence, as another flexibility measure for those CoPRs and PRVs are expired and they are unwilling or can’t travel and have also informed the IRCC regards to this prior to the date of expiry of the document. In such cases, they will have their files re-opened and also reviewed within 90 days period.
MBE IMMIGRATION SERVICES: MBE Immigration & consultancy services Canada can provide with all the latest happenings regarding the permanent residence information. This is related and relevant information regards to CoPRs and PRVs. In addition to providing the information, the team of consultants are highly equipped to entertain and resolve issues of immigration & what other flexible measures are needed to be adopted. MBE immigration & advisory services are working day & night in giving fast and acknowledged responses to their clients. This is especially in wake of events regards to COVID-19. It is particularly in response to the happenings of COVID-19, many policies and procedures have been altered.
W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE OCTOBER 2020
45
TOPBENEFITS
RMA/MBBP CANADA WWW.RMACANADA.COM
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MBE BUSINESS MAGAZINE OCTOBER 2020
W W W. M B E F O RYOU. C O M
Choice Hotels
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W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE OCTOBER 2020
47
INTERNATIONAL STUDENTS & CHANGES MADE BY THE IRCC
DIGITAL MEDIA MARKETING MB Enterprises
Canada, a country that is considered
students coming to Canada. An
measures. According to a press
by international students for study and
announcement by the IRCC has been
release the organization IRCC will be
work purposes as one of the best in
released lately and the sole aim is to
prioritizing the processing of study
the world. The country is undergoing
provide several major changes for
permits for the students who have
some changes in policy according to
healing international students so that
been successful in submitting a
IRCC a body that monitors & manag-
they can pursue their education in
complete application online. The
es the immigration into Canada. It has
Canada. It is prior to the start of the
processing time will be fast in terms of
been decided lately because of
pandemic COVID-19 that Canada has
time taken and also in terms of
COVID-19 activity on the peak, that
been a host to over 640,000 interna-
decision making by the IRCC.
Canada shall be undergoing changes
tional students. International students
The immigration body IRCC is also
in their immigration programs. The
give value and offer significant social
introducing a temporary 2-stage
country will fast-track study permit
and economic benefits to the country
approval process i.e. for the interna-
processing and is introducing a
apart from the benefits that they have
tional students. These are measures
temporary 2-stage study permit. This
been taking from Canada.
especially for those who are unable to
is for the sake of making things easy for international students in the midst of current activities of COVID-19.
submit a completed study permit
INTRODUCTORY MEASURES BY IRCC:
application. On top of that they want to begin their education program online.
The organization IRCC, Immigration
As announced by the immigration
Apart from this, there are huge
Refugees and Citizenship Canada
body the temporary program shall be
impacts that have been witnessed in
said that it will help international
readily available for those students
Canada, especially regards to
students as according to the following
who want to begin their program this
48
MBE BUSINESS MAGAZINE OCTOBER 2020
W W W. M B E F O RYOU. C O M
fall, and for those who will submit their
pandemic COVID-19 has impacted
Students have a huge desire to come
study permit application by 15th
IRCC’s ability to process study
to Canada simply because of the
September, 2020. Another major
permits. These new changes in the
high-quality of education being
initiative that IRCC is providing to
policies and regulations made by the
provided. They also want to be more
international students enabling their
IRCC will be a great source of help
privileged as they are more attracted
studies while they are still abroad and
and will help students begin their
because of the work options in
making that time count towards their
study programs online this fall. These
Canada during and post Study work
PGWP i.e. Post-Graduation Work
shall be conducted at a Canadian
options. Finally, most of the students
Permit. They should spend at least
designated learning institution (DLI).
also want to obtain permanent
50% of their time of study in Canada as long as they have submitted a study permit application.
residence so that they may become
BENEFITS PROVIDED TO INT. STUDENTS:
Canadian citizens in future. Being a Canadian citizen and getting a
Canada is a country that is considered
Canadian passport after completing
WHY ARE THEY HELPING INT. STUDENTS?
as a heaven’s gateway for internation-
the whole migration program is most
al students in terms of benefits
people’s dream & key objective. A
Why is IRCC helping international
provided during & Post Study. The
highly acknowledged passport in the
students whereas Canada is in the
benefits provided by the Canadian
world, Canadian passport holds huge
prestigious list for international
universities and colleges as well as
significance for people who have
students? This is a question in the
the Canadian Govt. are huge every
attained that nationality status after
mind of many people who have
year. However, things have proved to
loads and loads of hard work in the
invested for studying in Canada, and
be difficult and different this year
country. Thanks to IRCC for their
for those who have already accom-
mainly due to the pandemic
efforts for international students. The
plished that with success. They are
COVID-19 and its impacts all over the
new and flexible measures can
simply doing this so that they can help
world. As part of the benefits provided
definitely help in bridging the gaps
students begin their programs in time
the international students can take the
that are being created between study
for the fall 2020 academic year. IRCC,
comfort in being able to begin their
permits and international students. A
is a body that holds responsibility to
Canadian program online. A study
necessary step for future of academ-
realize the importance of immediate
program that will protect those Health
ics & academic values in Canada.
measures and that COVID-19 has
& Safety as well as also enable them
been a source of uncertainties for int.
to achieve their various study, career
students. In addition to this the
as well as immigration objectives.
W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE OCTOBER 2020
49
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“ITS WORK: THE PANDEMIC WORK DAY IS 48 MINUTES LONGER WITH MORE MEETINGS” DMM DEPARTMENT MB Enterprises
The Pandemic work day although
that you are using at home that can
48.5 minutes longer than normal. This
seems to be a relaxed one while
make a significant difference.
rise has also increased the meetings
working remotely is a bit longer than
Ironically, with the amount of meeting
on Zoom and skype to a huge 12.9 %
a normal work day. This is largely
time being increased, the pandemic
which is on the higher side. This is
something which has to do with more
has made a big difference for those
variable depending on your field and
meetings being made while working
working remotely or at home. While
your role at work.
9-5 at home. The time taken while
we have just reached the 5th month
commuting is being saved to a huge
of working from home, it seems like a
STRUGGLING TO STAY FOCUSED:
extent which makes it less stressful.
habit. When we consider the huge
It is higher in length of time, and
However, the total time given at home
rise in the unemployment rate,
According to Dr. Nzinga Harrison,
is largely increased due to the work
naturally, you can’t miss the impor-
Co-Founder and Chief Medical
from home significance and ease.
tance of working from home. Neither
Officer, it can be an issue for health
can somebody take things for granted
as well. She has said that there has
This has been an observation, that
which means always focused at work.
been issues with her clients that are
many people can give more and
At least you don’t have complains
related with “empathy fatigue”,
more time at work from home as
regards to no work, because at the
compassion burnout, difficulty
compared at the work place. This is
end of the day you have work from
working in collaboration and lesser
due to larger concentration levels and
home option. A specific study from
amount of motivation to tackle
increased focus at home. Although, it
National Bureau of Economic
projects. She has also reported that
largely depends on the environment
Research, the average work day is
there have been issues of drinking
52
MBE BUSINESS MAGAZINE OCTOBER 2020
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with the clients, which are more or less related to managing stress of COVID-19 environment. The environment is more linked to digital media and being alone in quiet rooms with the work station. Such a scenario is indeed stressful for those who are prone to work 9-5 in the office. According to Brian Wind, a clinical psychologist at Journey Pure says that people have been struggling to stay focused as well at home. This is mainly due to the amount of distractions that they have been witnessing since last 4-5 months.
ZOOM MEETINGS REQUIRES DEEPER CONCENTRATION LEVELS: Zoom meetings while working from home requires deeper amounts of concentration levels. This has been realized as a huge fact due to the distancing that is being created between the colleagues. Deeper concentration levels are needed to combat confusions and other issues that can create major conflicts. However, the main aim is to avoid any kind of conflict that can arise due to work pressures and strain. However, on the other hand a behavioral psychologist believe that most colleagues have used Zoom to avoid stress of COVID-19 environment. This can relax the mind and increase concentration levels depending again on the role of the person. Workers and businesses are still in the journey of adjustments while they are operating in the pandemic. This is particularly true because of the amount of uncertainties associated during the Pandemic COVID-19. According to the Vice President of Human Resources at SSPR, a national public relations agency, with so much uncertainty it’s not business as usual at any company, says Loni Freeman. However, he is affirmative that things will change in the direction of flexible adjustments to make work from home an interesting option. Especially true in case similar circumstances can arise due to a pandemic.
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POS TRAINING TIPS THAT EVERY BUSINESSES SHOULD FOLLOW DMM DEPARTMENT MB Enterprises
POS or Point of Sale is the key
that the system is aligned for
options. Talking to the staff about the
behind the operational environment
maximum possible usage while
POS software will always give them
of many fresh and old retail business-
keeping in view the client’s require-
the confidence with practice at least
es. In a successful restaurant, hotel,
ments. As a pre-requisite its best to
for some time for every one of them
cinema or any retail environment it is
manage and train the staff with all the
will make them closer to perfection.
indeed a necessity to have fully
key deliverables and procedures
All this will be an added advantage in
trained staff for POS systems. You
involved in the POS environment.
the business strategy while making
must have the right team, trained to
sure that the time is reduced to a
1. PRACTICE MAKES A MAN PERFECT:
huge amount. Every step should be
best possible ways. Dealing with the POS issues in a timely manner,
‘Practice makes a man perfect’, a
practice is a value addition for them
taking minimum possible time and
saying that is very true for people
at the workplace.
acting smartly is the vital need of the
working in the POS environment. The
POS environment which is indeed a
environment holds values of perfec-
2. ROLE PLAYING & TEST RUNS:
common framework in the retail
tion with practice being the key
Role playing & test runs are the best
sector. Dealing with success in the
behind the success of the POS retail
possible ways to learn the POS retail
retail environment means business
workplace. The best thing is to teach
with a closer and much more realistic
for the client, the customers and
your staff how it works, if you have
mindset. For example if you own a
potential business owners. Efficiency
made your mind that you have to
restaurant, you got to make sure that
in operations and deliverables means
involve the staff with payment taking
all the members of the staff can take
serve the client or customers in the
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MBE BUSINESS MAGAZINE OCTOBER 2020
memorized step-wise so that their
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orders, input the orders, and cash out tabs. The owner should also make sure that the practice of staff is done with discount options as well. These options includes coupons, splitting checks, and modifications to entrees. Similarly, in the retail environment the member of staff can also practice transactions with discounts, the clearance items, returns etc. You got to have a look as an owner where most trouble is and continue to role play and practice at the same time. The main aim is timely operations of all transactions while making sure that the customers gets satisfaction.
3. PICKING UP A TEACHER: Picking up a teacher or a trainee for your staff is the most concrete of the steps. It holds importance as the trainee or a teacher in simple terms understands the use of the software and can answer customer questions and queries. The person should also be able to answer to questions and queries of the people who are being trained.
4. REVIEW: Just before you wrap up the POS training make sure that you allow enough time for the question and review session. To raise the interest levels in POS training or to make it mandatory in the company’s manuals as part of the training. Try innovative measures like playing a game or start a staff question over the upcoming days. This is to help the employees retain all the information and continue to learn. As an owner there can also be an introduction of rewards as an incentive. Incentives and rewards are the best ways to motivate the staff regards to their learning outcomes.
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SUSTAINABILITY, ENVIRONMENTAL ISSUES & POLICIES CANADA 2020 DMM DEPARTMENT MB Enterprises
Being a huge country from North
ture. The biggest industries in Canada
Apart from the weather conditions of
America, Canada is massive in covered
is into the extraction of the natural
Canada that are extreme in most areas,
area and also has a wide range of
resources. These resources includes oil,
a huge amount of population lives in
eco-systems. The area that covers lakes
gas and Uranium being the three major
urban areas. Hence, the cities are
and rivers is approximately 7% of
ones.
notorious for their poor air quality, which
Canada’s total area. In the North i.e. the
varies area wise i.e. rural. The organiza-
northernmost part of Canada only the
ENVIRONMENTAL ISSUES CANADA:
tion Environment Canada which is
12 % of the land is found suitable for
The environmental issues in Canada
highly responsible for taking care of the
agriculture due to harsh & extreme
are a huge point of concern due to the
environment in Canada and monitoring
climate conditions. Most of the Canada
climate change which is happening at a
of weather conditions and climate
has very extreme weather conditions
higher rate. The country’s concern is
change in Canada.
and harsh climate i.e. not well for
highly related to the impacts of the
agriculture.
Climate change and the Govt. is
The organization in mid of 2020, has
The Canadian culture and its economic
working on policies to combat them. A
raised huge concerns for the environ-
values are very much like its neighbor
huge amount of wealth is generated
ment which is affecting wildlife, vegeta-
and twin country United States of
annually from its oil and gas operations.
tion, soil and water. They have further
America. However, the climate
The O&G sector accounts for a quarter
claimed that the air pollution that is
conditions all over the USA are not
of the Canada’s greenhouse gas
mainly in cities i.e. urban areas is a
extreme in terms of living, and the
emissions.
huge cause of acid rain. Acid rain is a
country is far better in terms of agricul-
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MBE BUSINESS MAGAZINE OCTOBER 2020
huge contributor to climate change, and
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the percentage of acid rain is increasing every year in Canada. A huge concern that needs to be stopped and monitored to avoid future hazards.
THE ENVIRONMENTAL POLICIES OF CANADA: Environmental policies of Canada are a set of mandatory policies and procedures that are needed for the protection of the environment of Canada. This includes lakes, rivers, and all kinds of other environment which is mostly ice and forest regions as well. Environment Canada is working hard to make policies that are for the betterment of environment and environmental sustainability. The Canadian environmental Protection Act was introduced in 1999 and the aim was to combat specific to air pollutants. The Act has had many amendments and additions since it was first introduced. The country has reached a huge amount of environmental agreements that are with the international community. It was one of those countries who were the first one to recognize the importance of climate change policies. Hence, Canada was the first developed nation to ratify the UN Convention on biological diversity. The Govt. of Canada’s efforts have highly safeguarded almost 10% which is a huge area i.e. land mass, and a huge 3 million hectares of Ocean. These efforts are on the move on a daily basis for the environmental sustainability of Canada.
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THANKSGIVING DAY CANADA OCTOBER 2020 DMM DEPARTMENT MB Enterprises
CANADIAN THANKSGIVING DAY –THE OBSERVANCE:
paid official holiday, however, some
Martin made the celebrations with
retail businesses are prohibited from
salt, beef and peas. The day took
Canadian Thanksgiving day is a
opening.
place years before its American
celebration & part of the Canadian
counterpart, the key reason behind this is related to the harvest. The
majority of provinces in Canada. The
TRADITIONS ASSOCIATED WITH THE CANADIAN THANKGIVING DAY:
day is celebrated on the second
On the Canadian Thanksgiving day,
Northerly Canada than it does in The
Monday in October and the sole of
people give thanks for a successful
United States of America. The current
the observance is to give thanks for
year and the harvest of the year
date of celebration was set in 1957
the provisions. It is largely celebrated
passing. It is part of their traditional
i.e. the second Monday of October
by Canadians all over the world
history when it was first recognized
while its initial celebration since it
especially in Canada as they hold
as a national holiday in Canada in
started in 1879 took place on a
values of patriotism and love for the
1879. The origin of the day and its
different date.
great country Canada.
history dates back very long time
culture as well as an official holiday in
harvest takes place earlier in the
The observance of the day is marked
Frobisher landed on Canada while he
‘LIFE IS A CELEBRATION IN CANADA’- 12th OCTOBER 2020:
as an official holiday in Canada
was in search for a Northern passage
The core aim and the theme of the
except for New Brunswick, Nova
to the Orient. He was the first one on
observance is to celebrate life in
Scotia and Prince Edward Island. In
his third voyage in 1578 held a formal
Canada, the culture of Canada, the
the province of Nova Scotia, Thanks-
ceremony where he happily and
Provisions, the economic values,
giving Day is a designated Retail
particularly gave thanks for surviving
social values and history of the great
closing day. This means that it’s not a
the long journey.
nation. Thanksgiving gives Canadians
when the English explorer Martin
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internal peace and gives them a realization that even though life is a celebration, thanksgiving is a must. It is celebrated in form of parties and gatherings with the loved ones and a Thanksgiving Day meal. The meal usually includes Turkey, mashed potatoes, stuffing, cranberry sauce, and many other dishes. While provincially speaking there are some regional variations in the meal. However, in most Provinces and territories the meal is the same formal one. It’s not just a meal or a celebration, it’s indeed a tribute to the cultural and economic values and prestige of Canada. A celebration of the moral and social values of Canada and what the country has given to its people and the innumerable migrants from all over the globe. As part of the regional celebrations where Thanksgiving Day is observed & celebrated most of the Govt. offices will be closed and so will be the local amenities. The public transport is most likely to operate, however, the banks will be closed along with Toronto Stock Exchange. In the three provinces i.e. New Brunswick, Prince Edward Island & Nova Scotia where the day is not a holiday, therefore, most families celebrate this day a day before, i.e. on Sunday.
CELEBRATIONS OF THANKSGIVING DAY AMID COVID-19: This year the day will be celebrated all over Canada on the 12th of October, i.e. second Monday of October with the same passion and patriotism for Canada. However, this year Canadians will be celebrating the day while giving thanks that most of Canada has safely dealt with the pandemic, COVID-19. It was indeed a test of nerves, economic values & the Canadian health system, as the country was almost devastated by the financial losses that Canada had to bear in the hard times. The day will be celebrated on the 12th of October this year with safety measures, i.e. social distancing, wearing masks, and sanitizing as well. As Canada is a country highly aware of the current global situation due to COVID-19, which is not over as yet. Huge efforts from Prime Minister Justin Trudeau and the Premiers of all provinces while fighting with COVID-19 are worth Thanksgiving. It is indeed a representation of Canada’s spirit, particularly in crucial times.
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IS THE CLOCK TICKING ON TIK TOK? STUART HIMMEL Staff Writer
U.S. President Donald Trump said Tik
the United States gets a lot of money.
Tok will have to close in the U.S. by
an uphill climb with key details including price still not worked out.
Sept. 15th unless there’s a deal to
Trump set off a furious scramble over
sell the social network’s domestic
the fate of the Chinese owned app
TikTok / Douyin is a Chinese
operations to Microsoft Corp. or
when he said he would ban the
video-sharing social networking
another U.S. company.
company’s operations through an
service owned by ByteDance, a
Trump also said the federal govern-
executive action. He softened his
Beijing-based Internet technology
ment will have to be paid a substan-
stance after Trump spoke with
company founded in 2012 by Zhang
tial amount of money as part of any
Microsoft CEO Satya Nadella about
Yiming. It is used to create short
deal.
his company’s efforts to purchase the
music, lip-sync, dance, comedy and
viral video application.
talent videos of 3 to 15 seconds, and
“I don’t mind whether it’s Microsoft or
short looping videos of 3 to 60
someone else, a big company, a
Microsoft said in a blog post that it
seconds. Security researchers have
secure company, a very American
was hoping to complete a deal for Tik
found that the TikTok iPhone app is
company buys it” Trump told reporters
Tok operations in the U.S., as well as
spying on its users by secretly
at the White House. It’ll close down
in Canada, Australia and New
reading the clipboard
on Sept. 15th unless Microsoft or
Zealand, no later than Sept. 15th.
somebody else is able to buy it and
The White House insisted upon that
The White House has said that it’s
work out a deal, so the Treasury of
deadline although it could prove to be
concerned that Tik Tok’s parent
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company, ByteDance Ltd. could be compelled to hand over American user’s data to Beijing or use the app to influence the 165 million Americans and the more than two billion users globally, who have downloaded it. Trump has looked to speed up the pressure on China ahead of the November election, frustrated by slow implementation of the trade pact inked earlier this year and the spread of the coronavirus which Trump blames on China. Teenagers opposed to Trump have also used the app to disrupt the President’s campaign activities, including signing up for tickets to his first rally since Covid-19 in Tulsa. Attendance was far below what was expected and Trump has not had a rally since. Microsoft pledged to add more security, privacy and digital safety protections to the Tik Tok app and ensure that all private data of Americans be transferred back to the U.S. and deleted from servers outside the country. The company also said it may invite other investors to take a minority stake in the company. Microsoft appreciates the importance of addressing the President’s concerns. It is committed to acquiring Tik Tok subject to a complete security review and providing proper economic benefits to the U.S including the United States Treasury. U.S. lawmakers and administration officials have favoured shutting down the application altogether to send a message to China after Beijing restricted American companies like Facebook, Twitter and Google. White House advisor Peter Navarro said in a pair of interviews with CNN and Fox News that he wasn’t sure Microsoft was the right company to buy Tik Tok’s U.S. operations, saying it had helped China construct its internet firewall.
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VIRTUAL MEETINGS PROBABLY HERE TO STAY STUART HIMMEL Staff Writer
Any shareholder who’s ever endured
There is usually a presentation on
unusual circumstances that the
hours of travel to attend a company’s
company accomplishments from the
pandemic has caused.
annual meeting is in for good news in
CEO and shareholders usually have
the wake of OOVID-19 Pandemic.
the chance to ask questions.
The challenge is that participation at some of these virtual meetings has
Experts say the success of Annual
The onset of the pandemic at the
been limited. The ability to ask
General Meetings (AGMs) taken
start of AGM season this year forced
questions has been limited by the
virtual this year will probably translate
many companies to cancel their
company to either written questions
into more options for online and
in-person events and figure out how
in advance or sometimes no
teleconference participation at future
to use technology for a virus free
questions at all. In addition, the
events provided that some technical
meeting. The online migration was a
ability to log in has been quite
glitches can be ironed out with the
scramble for most, as Canadian
complicated as well. The virtual
caveat that full shareholder participa-
organizations have been much slower
events lack some intangible benefits
tion is necessary.
to adopt to virtual meetings than their
to attending a meeting in person,
U.S. counter parts. Before the
such as being able to have informal
Most corporations are required to
pandemic hit, only a handful of
chats with directors, company
meet once a year with their sharehold-
companies had ever done so.
executives and fellow shareholders.
as electing the board of directors,
Most of the response to the virtual
The first six months of 2020, 583
choosing an auditor and approving
meetings has been positive, in part
AGM’s had been held by companies
the minutes of the last meeting.
because shareholders recognize the
on the Toronto Stock Exchange,
ers to deal with routine matters such
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according to those figures compiled by Hansell LLP of Toronto, a corporate advisory law firm. That number is down almost 22% from the same time last year as quite a few companies took advantage of pandemic related deadline extensions offered by regulators. Susan Kushneryk, a partner at Hansell, said she expects more virtual meetings will take place in the future for two reasons – people will or may be hesitant to attend crowded events even if the pandemic is under control and the convenience of being able to dial in or catch a meeting online now has been well demonstrated. If you invested in a company based in Calgary and you live in Toronto now, if that company is having a virtual AGM, it may enable you to attend a meeting for the first time since you owned shares in the company. Virtual AGMs in Canada and the U.S. were generally well received and well operated by shareholders, but there were also a few instances where technology failed or meeting organizers turned off the mic to stymie troublesome input. There are some high profile examples of big companies’ (AGMs) that either shareholders had difficulty getting in or finishing what they wanted to say. Investors remain wary of the use of technology in future meetings. In Canada, Hansell found 54% of the meetings were virtual only, which means that shareholders could attend remotely by phone or computer but couldn’t ask questions or vote in real time. Votes were collected ahead of the meeting. About a quarter (26%) were traditional physical AGMs, where shareholders could vote ahead of time or attend in person to vote or ask a question. Thirteen percent of the meetings were what is called “limited hybrid” where participants could remotely ask questions but couldn’t vote. Just two percent were the full hybrid model where participants could vote and ask questions at the meeting either remotely or in person.
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63
OCT 2020 LIBRA Libra Your lovely home planet, Venus, begins the year in airy Aquarius but quickly moves into sensitive, compassionate Pisces in the middle of January. This comfortable pairing creates a romantic, dreamy flow of love that will help you be more understanding, forgiving and affectionate. Venus travels through your sign starting at the end of October, putting close relationships in the spotlight. Don’t let your willingness to negotiate with people lead to crippling indecisiveness.
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As your ruler and goddess of love,
romantic daydreams about storybook
Venus, enters sensitive Pisces in
endings
mid-January, romance springs to life. You are truly in love with love now,
Love is exciting and impulsive when
and there’s a dreamy energy that’s
Venus enters fiery Aries at the start
optimistic if not a bit naïve. You want
of February and being spontaneous
things to work with your partner so
can lead to some hot encounters.
badly that you might overlook some glaring problems. A Venus-Neptune conjunction at the end of January helps you continue to live in a state of ignorant bliss, but you know deep down it can’t last forever. Things to appreciate now? Gorgeous bouquets of flowers you pick together, your partner’s signature scent and
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Your eyes aren’t on the long-term now,
different. Looking for Jupiter (the
but you aren’t against it if you meet
planet of luck) combinations in the
the right person. Decisions are
yearly planetary movements yields a
uncharacteristically made without
Venus-Jupiter square at the end of
overthinking them, Libra, which can
February that makes you want to
lead to regret later. You’re more
overspend. If you’ve got money to
competitive now than usual, so don’t
burn, go for it—but if you’re on a
pursue someone for the wrong
budget, don’t give in to materialistic
reasons. Venus’ square to Pluto at the
temptations. A sun-Jupiter trine at the
end of the month can make you more
start of September is one of the best
insecure than normal, and jealousy
solar transits and can bring big money
can rise to the surface. Manipulative
opportunities your way. It’s relatively
behavior is not attractive!
easy to improve your overall net worth now, so grab onto those high-dollar
Most people want to get lucky when it
chances when they cross your path.
comes to money, and you’re no W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE OCTOBER 2020
65
WE ARE HIRING!
HEAD CHEF
THE SENATOR HOTEL
&CONFERENCE CENTRE
JOB REQUIREMENTS LANGUAGE: ENGLISH EXPERIENCE: FRESH ABILITY TO SUPERVISE: 5 TO 10 PEOPLE
SKILLS: Maintain Records of Food Cost; Consumption; Sales & Inventor y ; Prepare & Cook Food on Regular basis or for Special guest and Events; Meals and Speciality Foods; Train Staff in Preparation; Cooking & Handling of Foods; South Indian; International; Super vise Cook & other Kitchen Staff. WORK INFO: Room & Board Provided
HOW TO APPLY Email: gm@senatorhoteltimmins.ca Phone: (416)-918-1356 (12:00 PM to 05:00 PM) Mail: 14 Mountjoy Street, South Timmins, ON P4N 1S4 Note: Anyone who can legally work in Canada can APPLY for this job, If you are not currently authorized to work in Canada, The Employer will not consider your job application
Career Overview As a resort manager, your job will include managing all aspects of a resort, including lodging, food and beverage management, human resources, housekeeping, attractions, and guest services. You'll be in charge of employees, ďŹ nances, customer service, promotions, and quality control. Resort managers often have to work nights and weekends, putting in long hours to ensure the success of their establishment. Job Description Includes duties in three major areas: Daily Operations, Finances, and Marketing Resources
|
Customer Service
|
Human
Daily Operations, Financial, and Marketing Duties Resort managers oversee product stocking, accounting, and marketing efforts at the resort. As a resort manager, you'll hire contractors to perform services, such as painting or plumbing. You'll ensure that all supplies, from housekeeping materials to furniture, are in good condition and in stock. You'll monitor payroll, customer billing, and expense accounts. Customer Service Resort managers ensure positive customer experiences by maintaining high-quality facilities and remedying problems. At the resort, you'll conduct room, kitchen, and grounds inspections to make sure that they are all up to code. You'll greet guests at arrival, create standards surveys, and ďŹ nd acceptable solutions to problems that may arise. Human Resources Responsibilities As a resort manager, you'll be in charge of hiring, training, and scheduling new staff members. You'll set goals for employees and help your staff achieve these goals. You might also have assistant managers who you'll work with to manage departments, such as housekeeping, dining, security, and desk personnel.
Contact: 4382 HWY # 60, RR#1 DWIGHT, ONTARIO P0A 1H0 CANADA 1-800-387-2244 stay@algonquininn.com
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MBE BUSINESS MAGAZINE OCTOBER 2020
WE ARE HIRING!
RESORT MANAGER
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MBE BUSINESS MAGAZINE OCTOBER 2020
67
Discussion with Dale Thom on Real Estate market in GTA in 2020
DALE THOM Royal LePage Exceptional
How will the Covid-19 Pandemic affect Prices of real estate in GTA? Residential Condo Preconstruction/Resale and Lease
during March, April and May because of Covid-19 but the
Most of Residential Condominium Pre Construction Sales are
Freehold leasing has a good supply and has come down in
to investors. While sales have slowed somewhat due to
price slightly.
Covid-19, prices haven’t come down. The builders will find
market has returned with pent-up demand and mortgage interest rates are at historically low levels.
creative ways to package a down payment schedule or
Commercial Sale and Business sale and Lease
discount some upgrades. If a builder can’t sell out the
Sales of Commercial Properties have remained strong while
development they typically won’t break ground. We expect a
investors recognize the impact of tenancy rule changes.
rebound of strong sales, as Toronto is a global market for
Selling a business will always depend on the verifiable profits,
investment.
so selling a business at this time may be a challenge with this year’s lost sales.
Resale Condominiums continue to increase in price. In the over last year. There was a period of increased inventory
Your suggestions to buyers and sellers, what to do and not to do in this time.
earlier in the year perhaps because of Airbnb owners selling
Please hire an experienced real estate salesperson who will
off their properties but this seems to have been absorbed.
guide you through current market conditions. In this year
Residential Condominium Leasing has seen the most change
alone we have had 3 different markets, and our clients need
during Covid- 19, with monthly rental prices coming down and
advice on whether to buy first or sell first; how to compete in a
more competition for a quality tenant. Factors that affected
multiple offer situation; how to best showcase your property to
the rental market were job loss, decreased immigration,
get the maximum sale price; how to get qualified with a good
Greater Toronto Area prices of condos have increased 8.8%
students working on line from their parents’ homes, and Airbnb properties hitting the long term market. There is a glut of rental condos on the market so tenants are even moving to cheaper units, which was previously unheard of.
Residential Homes Preconstruction / Resale and Lease Residential Freehold Home Pre Construction is seeing strong sales. The Toronto Golden Horseshoe Area has seen explosive markets in the surrounding communities such as Durham, Guelph, Peel and Hamilton and areas to the north. Resale Freehold Houses are back to a strong Seller’s market with an increase in average price of about 16%, and an increase in sales over July 2019 of 48%. There was a pause
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MBE BUSINESS MAGAZINE OCTOBER 2020
W W W. M B E F O RYOU. C O M
mortgage representative; and how to make the move go
It’s still a Seller’s market, although the market isn’t quite what
smoothly.
it was before Covid-19. We were trending towards a record year before the virus struck. If you are renting and consider-
Any investment feedback for investors.
ing buying, buy. There’s no model that makes sense to keep
As the Covid-19 situation changes, the market will too.
renting. If you are an investor, there are some economic
Pent-up demand will ease. Inventory may go up, especially
factors in play to consider in supply and demand to analyze.
when mortgage deferrals, CERB and other economic
Mortgage deferrals will end, putting pressure on some people
supports come to an end. However, interest rates are staying
to sell. Long term unemployment numbers could increase,
low and immigration is ramping back up which could keep the
cooling the market. More properties could come up for sale
market strong. In the meantime, it looks like the hot market
as financial difficulties force homeowners to sell, investors
will continue well into the fall, and possibly beyond, depend-
may not get the rental income necessary to carry their
ing how the situation evolves, and whether there is a
properties forcing them to sell; the ability to work from home
sustained second wave.
has made many people re-think city living, and reduced immigration all shrink the pool of potential Toronto buyers. All
Short term and long term impact of this Pandemic
things considered though, the Greater Toronto Area is a big
The Spanish Flu that caused so many deaths in the period of
pool of Buyers, and it is on the radar of the world for invest-
1918-1920 changed the design of a home, mostly for sanitary
ment because of political and economic stability leading to a
reasons. Delivery people would go to many houses in a day
steady demand for real estate. Your investment is safe here.
so a change was made to put a 2-piece washroom at the front of a house to separate visitors from a family. Pedestal sinks were invented for ease of cleaning, and claw foot tubs were replaced by built-in tub designs. While I think we know more about cleaning now, I see so many people working from home that I can see the need for more rooms and more space and more separation from the others who are in the house. There will be more home offices and work spaces in the years to come.
W W W. M B E F O RYOU. C O M
MBE BUSINESS MAGAZINE OCTOBER 2020
69
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MBE BUSINESS MAGAZINE OCTOBER 2020
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71
A post-pandemic outlook for Canada’s economy
INVESTMENTEXECUTIVE.COM
With the economy starting to re-open,
rebound in jobs, auto and home sales,
“Once the relief programs run their
Canada’s recovery has begun.
and overall retail sales could look like
course, this should help to alleviate
However, any optimism about the end
post-pandemic was based on
any labor concerns,” it said.
of the historic shutdown was
sentiment from the bank’s small
tempered by practical considerations.
business clients.
TECH SECTOR TO PLAY LARGE ROLE IN POST PANDEMIC ECONOMY:
“With some restrictions still in place,
Small businesses are “the foundation
“it’s expect to see continued growth
borders still closed and many Canadi-
of local economies across this country
among technology and innovation
ans understandably reluctant to
and account for a large portion of local
companies across the country and
venture out, a complete recovery will
tax revenue and local employment,”
anticipate that with technology
likely take an extended period of time,”
the report said. “Their rebound will
expected to play a much larger part in
according to a report by BMO Capital
influence Canada’s recovery.”
our post-covid economy, this sector will contribute growth both provincially
Markets. Despite re-openings and business
and nationally,” the report said.
In fact, sectors such as travel, dining
efforts to maximize cash flow and
Since the pandemic began, the sector
and entertainment may never return to
make changes to their operations, a
has received a boost from online
pre-pandemic levels, it said.
persisting headwind is re-hiring
shopping and remote working.
employees and returning staffing to
The report also noted that the
normal levels, the report said.
proportion of GDP attributable to
BMO’s outlook of what Canada’s economy so far shows a partial
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MBE BUSINESS MAGAZINE OCTOBER 2020
information and communications W W W. M B E F O RYOU. C O M
technologies has surged above 5% so
Key for the sectors will be how well
Overall, forecasted predicts Canada’s
far this year. The sector accounted for
the global economy recovers, as well
GDP to contract by 6% this year “by
4.8% of Canada’s GDP in 2019, up
as how competitive Canada proves in
far the deepest annual decline in
from 4.2% in 2007.
the space.
economic activity in the post-war era.”
The 5% figure is more than twice the
(GDP was 1.7% in 2019).
size of the hard-hit accommodation
The construction sector, which has
and food services sector.
mostly continued to operate near
As per the economic outlook report,
capacity during the pandemic, should
growth is expected to rebound to 6%
Manufacturing also offers potential opportunities:
remain viable, the report said, as
in 2021, helping to lower unemploy-
residential construction is expected to
ment.
For example, the ongoing need for
remain solid in the near term.
items such as Plexiglas, hand
That could change, however, if
Still, the challenge will be restoring
sanitizers and masks “creating
recently falling immigration levels
the economy to full health. Generally
positive momentum” for the space.
persist.
it’s not expected unemployment to
Other positives for the sector include
soon return to its pre-pandemic levels.
the potential for shortened supply
“Prior to the pandemic, Canada’s
“While the unemployment rate is
chains and the U.S.-Mexico-Canada
population was growing about 1.5%
expected to continue receding from its
trade deal, which should slightly
per year being at the fastest rate in
post-war high, we expect it to still be
benefit Canadian production.
three decades, but we suspect that
north of 7% by the end of 2021, or
Still, the manufacturing sector’s share
may cool to something closer to 1%
roughly two percentage points higher
of GDP has been shrinking in recent
on the other side of the divide,” the
than pre-virus lows,” the report said.
years falling to 10.2% in 2019 from
report said.
For oil, a report projected a partial
15.7% in 2000 and possibility is there that it could shrink further still.
Demand may not revive quickly enough to keep some firms in business: W W W. M B E F O RYOU. C O M
recovery, with prices averaging $45 On the plus side for construction,
per barrel in 2021, up from about $38
public-sector infrastructure investment
this year but down from the $57
should remain solid, particularly if
average that was in 2019.
federal and provincial budgets focus on stimulus post Covid-19. MBE BUSINESS MAGAZINE OCTOBER 2020
73
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