In recent years, it has been analyzed that most of the individuals are facing the issues of homelessness. The furthermost often detailed aim in the year 2018 PIT Count for housing loss was incompetence to emolument the fee. Moreover, 12% of persons stated a damage of employ, as well as 3%, stated ability to discovery cover as their aim for the damage of housing (Latimer et al., 2017). The Journey Home Strategy is Kelowna’s five-year plan to address the homelessness with a focus on ensuring every individual has a place to call the home. For running such a strategy over 2000 points of contact with the community combined to shape such a strategy (Rezansoff et al., 2016). The journey to build such strategy began with a recognition that an effective community response needed to be grounded in approaches that are proving to be successful. Kelowna is one of the attractive communities with an excellent climate as well as has a strong economy that attracts maximum migration as well as frequently driving the demand for both the rental as well as ownership housing (Schaepe, 2018).
In the following report, there will be a detailed analysis of the environment that may affect the overall performance of the company at a certain level.
Canada is one of the founding members of the United Nations as well as it is one of the powerful countries. The country maintains healthy relationships with the other utmost influential republic in the domain which is the USA. They also maintain a healthy relation with France, the United Kingdom and further republics in the world. Such a country enjoys a stable political environment that supports The Journey Home to continue their business in such an environment in an effective and efficient manner. The government supports the society to promote their business to provide a home to homeless people.
Canada is considered as the 10th largest economy in the world as of April; 2018. They have a association in the Organization for Economic Co-operation and Development, The World Trade Organization, the G20 as well as the Common Wealth of Nations. Approximately, 70% of Gross Domestic Product is subsidized by its facility segment that employs over 75% of the population of country. With a strong as well as dynamic economy, diverse as well as business individuals, world-class substructure as well as one of the best banking systems in the world, the country magnets the courtesy of the stockholders as well as industries around the world that create an opportunity for the company to expand their business and target their consumers for home rentals and purchases in an effective and efficient manner (Laycock et al., 2017).
Canada is considered as a 2nd largest country in the world by the area, however, their populace is not that large than other countries. It is a varied republic. In fact, variety has played a great role in the Canadian History as well as numerous persons call the republic a county of strangers that represent that the percentage of migration in such country is high as a comparison to another country that creates the issue of living in such country. It increases the demand of both rentals as well as ownership housing in such country that provides a great platform for the company to target such consumers in a more effective and efficient manner (Clark, Moonen & Carr, 2017).
The technology plays a vigorous role in the economy of Canada. In fact, technology is one of the firmest rising segments in the country. The individual of Canada makes usage of technology for numerous drives, most particularly education, businesses as well as freedom. It delivers high disbursing works that attract maximum migrants towards such country. Such development is also obvious in the vagrant populace that has been challenging local services breadwinners notwithstanding the current coordinate efforts to enhance the entrée to service, lodging as well as cover (Barr, Mizrach & Mundra, 2015).
The threat of new entrants is neutral to unfavorable for the company. Such a situation is explained in below points
The intensity of competition among the developers in residential development is relatively low. In recent, the supportive housing market in Canada is highly fragmented with no single entity that controls more than 6.0% of the market. The three largest providers of supportive housing in Canada are Revera, Chartwell, and Extendicare. Such companies control over 13.5% of the roughly 422,000 supportive housing in such country. It is a rough overview of the competitive landscape within the highly fragmented Canadian supportive housing market (Shen, Zhang & Long, 2017).
The cost of the substitute for the supportive product of housing industry is neutral. It is more intangible than tangible for instance, the responsibilities as well as physical demand of home ownership as well as maintenance. However, for those who are either unable or unwilling to pay the intangible price of home ownership the services of the supportive housing industry are available for a fee. For such reason the threat of substitution is low.
The bargaining power of the consumers is low in such a situation. As the number of migrates in such country is high that increase the number of the requirement of shelter that bound the bargaining power of the consumers in such an industry.
There are four key suppliers in such industry that are a seller of land, construction contractor, manufacturers as well as capital providers. Therefore, their bargaining power is low due to the reason there is high competition among the suppliers of such industry that force them to control over their prices that give a benefit to the company to control over their cost in an effective manner (Kharub & Sharma, 2017).
Strengths
Weaknesses
Opportunities
Threats
Conclusion
From the above analysis, it can be concluded that the migrants in Canada are increases day by day that create an issue for them to stay in such a country. One of the communities The Journey Home in Kelowna City has introduced their strategy to provide a home to the homeless people in such country. Their main motive is to support all the people who are homeless. The political and economic environment of the country is stable and healthy that will support the community to expand its business in a more effective manner. Moreover, there is a high requirement of home to the homeless people due to an increase in the number of migrants in such country. They can use their strength to cope up with the challenge of threat and can grab the opportunity to cope up with the challenge of weaknesses in an effective and efficient manner.
References
Barr, J., Mizrach, B., & Mundra, K. (2015). Skyscraper height and the business cycle: separating myth from reality. Applied Economics, 47(2), 148-160.
City of Kelowna. (2019). Journey Home. Retrieved from: https://www.kelowna.ca/our-community/addressing-homelessness/journey-home
Clark, G., Moonen, T., & Carr, D. (2017). The Role of Real Estate Development in Urbanizing Cities. LEADERS, 216.
Kharub, M., & Sharma, R. (2017). Comparative analyses of competitive advantage using Porter diamond model (the case of MSMEs in Himachal Pradesh). Competitiveness Review: An International Business Journal, 27(2), 132-160.
Latimer, E. A., Rabouin, D., Cao, Z., Ly, A., Powell, G., Aubry, T. & Veldhuizen, S. (2017). Costs of services for homeless people with mental illness in 5 Canadian cities: a large prospective follow-up study. CMAJ open, 5(3), E576.
Laycock, D. P., Pedersen, P. K., Montgomery, B. C., & Spencer, R. J. (2017). Identification, characterization, and statistical analysis of mudstone aggregate clasts, Cretaceous Carlile Formation, Central Alberta, Canada. Marine and Petroleum Geology, 84, 49-63.
Rezansoff, S. N., Moniruzzaman, A., Fazel, S., Procyshyn, R., & Somers, J. M. (2016). Adherence to antipsychotic medication among homeless adults in Vancouver, Canada: a 15-year retrospective cohort study. Social psychiatry and psychiatric epidemiology, 51(12), 1623-1632.
Schaepe, D. (2018). It’s a Family Affair: Stó: l? Experiences in Repatriation. BC Studies: The British Columbian Quarterly, (199), 27-32.
Shen, L., Zhang, Z., & Long, Z. (2017). Significant barriers to green procurement in real estate development. Resources, Conservation and Recycling, 116, 160-168.
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