Effects of Canadian Culture on Investment - Essay Example

Canada's recent economic prosperity and the ability to be at par with the competitive world are some affirmations of this conservatism. According to Bill Currie, Deloitte’s chair, the Canadians feel they are good and do not need to take risks that are not comfortable with them. In a report produced by Deloitte Company, uncertainty and risk were noted as the greatest obstacles to the Canadian business owners. In addition, other Canadian business leaders claim that the high cost of labor is the primary cause that is restraining their capabilities to invest in research and development (OVSEY, 2012).

According to OVSEY (2012), Prof Peridis disagrees with their claims noting that the Germans despite their high labor costs can still sell their products. They produce knowledge-intensive products and add that a culture of modesty cannot be changed overnight. Thus, for Canada to become a serious contributor to the business globe, it needs time to change that conservative culture.

Audi is among the top luxury car-producing companies in Germany. The Audi manufacturers are known for their numerous innovations in the automotive industry. For this reason, Audi can be termed as a risk-taker in the global business world due to their willingness to venture their business worldwide. Furthermore, plans to invest globally in the Chinese and American markets are underway by the Audi automobile company. These plans were triggered by the developments in both countries and the need to sell their products worldwide to develop economically (BOUDETTE, 2014).

Despite the fact that Canadian companies are conservative and do not love innovation, the Canadian country can be a good market for Audi to sell their cars. As well, this is because the locally based companies are very reluctant in innovating anything new. As a result, Canadians may be willing to break the monotony in their countries and try to import other products from international-based companies like the Audi automotive industry. (Taylor & Wilson 2012).

Moreover, imported products can be of higher quality and long-lasting than the products in the local market thus causing Canadians to import the products. Also, the world is evolving and for this reason, there is a need for individuals to trend with the developing times. Therefore, the Canadian culture is creating space for international manufacturing industries that are willing to spread their wings globally to market their products. Thus, this can influence positively the Audi automotive industry by including Canada in their investment plans (Bock et al. 2012).