CANADIAN TIRE CORPORATION

ANAM QURESHIBUSINESS FUNDEMANTELS

INTRODUCTION

Canadian Tire Corporation Limited is a highly diversified company that has a number of brands under its umbrella.

The company operates five key businesses. More than 425 stores across Canada. Three main product divisions: Automotive Home Leisure

Canadian Tire Petroleum is one of Canada’s largest independent gasoline retailers.

Mark’s, which is one of Canada’s leading apparel retailers.

FGL Sports Ltd. is the largest national sporting goods retailer in Canada.

Company vision

We are a growing, innovative network of interrelated businesses, achieving extraordinary results through extraordinary people… We touch the lives of more people in more ways every day.

Canadian Tire Corporation’s vision statement according to corp.canadiantire.ca is

Company mission

To equip Canadians for the jobs and joys of everyday life.

Canadian Tire Corporation’s mission statement according to corp.canadiantire.ca is

SWOT Analysis

Strengths Strong global supply chain

network Strong national reach and scale Well positioned in the

competitive environment

Weaknesses Limited operation – in Canada only Company continues to increase its

prices Low customer service

Opportunities Technological advancements

and innovation for retail Three-year freeze on

Employment Insurance premiums

Threats Increasing competition from new

entrants Canada’s relatively small and slowly

growing population

Company Strategic Objectives

The Company has Four Strategic Pillars/ Objectives that will continue to drive the business forward in the years to come.

Strengthen Core Retail Align Retail Financial Business Units to Reinforce the Core Build a High-Performance Organization Create New Growth Platforms

The Three Challenges

1) Increasing competition from new entrants.

2) Canada’s relatively small and slowly growing population.

3) Decrease in oil prices - down trending Alberta economy.

Increasing competition from new entrants

With the issue of increasing competition from new entrants - Canadian tire has already fast tracked into the quality of customer service that is backed up by the customer-friendly store layouts with innovative designs that help customers find what they need and want, quickly and easily. Canadian tire is continually bringing in innovate ways to enhance customer experience and satisfaction.

Changes There has been a significant change in Canadian Tire’s strategy in terms

of implementing new and innovative technology developments.

Canadian Tire opened a new digital Development lab partnering with Communitech with five full time employees working there to improve the shopping experience online and in-store for customers using the next class advancements in digital technology. This will help the company to initiate the best technologies and grow their retail business.

The company has a number of integrated digital strategy initiatives that they are currently undertaking. One of these initiatives include the first large urban flagship SportChek stores that will include various digital technology features to enhance the customer experience in stores.

Cope with the challenge

Continue to strengthen core retail by building customer attractive and friendly retail store outlets. Continue to explore and penetrate new market niches and high-growth sectors. Continue to invest in digital technologies and innovations. Strengthen the company’s image and capitalize on the fact that its operation is limited to Canada and take advantage of being a proud Canadian company.

Turn strategic objects and focus back on customer satisfaction by training front-line staff and ensuring a superior satisfaction is gained. Must give front-line staff the authority to make decisions to ensure customer satisfaction, for example, offer discounts/ rebates to customers that are not satisfied.

Works cited

http://www.canadianbusiness.com/list-and-rankings/canadian-tire-rolls-out-new-focus-on-innovation.

http://corp.canadiantire.ca/EN/AboutUs/WhoWeAre/Pages/default.aspx

http://canadiantire-jeff.blogspot.ca/2012/03/swot-analysis-strengths-and-weaknesses.html

http://corp.canadiantire.ca/EN/Investors/Pages/CompanyProfile.aspx