Friday, February 11, 2011

Growing Globally with Export Development Canada

With all this talk of corporations only existing to maximize profits, it’s hard to believe that there are corporations out there who’s focus is the opposite. This is an article I was given for my Market Assessment and Export Management class about Export Development Canada. EDC is an example of a corporation that “conducts all aspects of its business in a socially responsible and environmentally sound manner.”

EDC Background Information:
- serves 8,300 customers
- facilitates $86 billion in global trade
- operates in 200 markets
- serves 30% of Canada’s trade in emerging markets
- employs 1,100 people across Canada and around the world

EDC has been able to expand Canada’s global trade by helping companies manage and reduce risks, export and invest globally. Since EDC reports to the Government of Canada, there are limitations and rules to abide by, this is why they are successful. It’s true that EDC is a corporation that will help your company increase profits, for the better of your company and the goodwill of society. I bet you wouldn’t believe me if I told you 0% of their revenue generated was from externalities.

The difference with EDC and other corporations is EDC’s commitment to conduct socially responsible business practices. EDC’s goal is to exist and succeed for the greater good of everyone. To create and maintain long-term jobs, promote research and future development and help smaller companies grow and penetrate upcoming market opportunities.

If there were more corporations like EDC, would we be any closer to that insurmountable, unattainable, peek of sustainability? I think so. If corporations can work together and seek opportunities to create wealth not just for our economy, but the global economy; we’d be closer to attaining it.

By: Cait Kelly

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