Bored at the Airport

Aligning your digital investment to boost your global market expansion

Almost every aspect of our lives incorporates a digital element, from the alarm on our phone to wake us up to reading an e-book when we go to bed. But exploring and realizing the potential of digitization involves embracing a new mindset that challenges us to not only apply digital technologies to existing activities but to ‘unlearn’ old reflexes and learn different ways of working. Companies from Lego to Disney have invested heavily in digital technologies to support their expansion plans. Increased market opportunities, responsiveness, enhanced productivity, and improved efficiency are “just” surface-level drivers for digital transformation.    About the show This show is about doing business globally. We provide expert insights for Canadian companies looking to enter new markets and stay competitive. Whether your business has international presence, is considering the beginning of an international expansion or, if you’re in the middle of revising your expansion plan, then this show is for you. About Mike Michael Madsen [http://www.bdo.ca/en-CA/our-people/michael-madsen-1] is the International Liaison Partner for BDO Canada, maintaining a global business role to the BDO Global organization with representation in over 164 countries worldwide. He is responsible for ensuring BDO is positioned to be the provider of choice for clients operating internationally. Michael is born and raised in Vancouver, is the father of 3 children, and is an avid soccer fan. Michael is also an outdoor cat, and enjoys spending time doing yard work followed by a cold beer as a reward for the hard work. Over 100 years of BDO in Canada What began with a small office in Winnipeg over 100 years ago has grown to more than 100 locations across Canada and thousands more around the world. BDO Canada [https://www.bdo.ca/en-ca/home/] has come a long way since founder Colonel James M. Dunwoody left Belfast for Canada, starting a firm of chartered accountants. National and international alliances were formed through a series of partnerships, helping position BDO for success in Canada. Today, we offer 4,000 professionals in offices from Vancouver to St. John’s, serving clients across many industries. In 2021, we celebrated the significant milestone of our centennial [https://celebrations.bdo.ca/bdo-100]. Throughout the year, we highlighted our history, challenges we’ve overcome, our growth, the ways we give back to our communities, our people, our leaders, and our clients that have made BDO what it is today. Locations and strategies may have changed, but our focus has not. We remain committed to understanding our clients’ needs, fostering strong relationships through hands-on partner involvement, and delivering exceptional service. And as our clients grow, our capabilities expand with them, always in pursuit of providing the highest levels of strategic insight and technical skill. Disclaimer The information in this podcast is provided for general informational purposes only. It may not reflect the current law in your jurisdiction and it should not be taken as, and it is not intended to render accounting, tax, consultative, investment, legal or other professional advice or services.  These podcasts reflect the opinions of only the authors who are associated persons of BDO Canada and any third-party information provided therein, at the time of recording and do not reflect the views of BDO Canada LLP or any of its subsidiaries or affiliates.  This podcast is not intended as a substitute for professional advice - listeners should not rely on, act upon, or fail to take any action based on the content or information found here without first seeking appropriate advice from an accountant, financial planner, lawyer or other qualified professional.  Please do not disregard any professional advice or delay in seeking professional advice because of something you have heard here.

The Story of WeWork

To kick off our series, we want to share the story of a startup with massive potential, innovative ideas, and billions of investment dollars that still failed. This is an episode we call, We Work? Not so much. WeWork, at one time, was the world’s most valuable startup and is the subject of the new series, We Crashed starring Jared Leto and Anne Hathaway. It depicts the dramatic fall of the co-working phenomenon on Apple TV. Joining Mike on this episode to discuss WeWork is Peter Matutat, National Technology Leader and a Partner at BDO Canada. Peter specializes in emerging technology companies. Guest Peter Matutat [https://www.bdo.ca/en-ca/our-people/peter-matutat-1/], National Technology Leader and a Partner at BDO Canada. Peter specializes in emerging technology companies. He has dealt with public and private tech companies for the past two decades. About the show This show is about doing business globally. We provide expert insights for Canadian companies looking to enter new markets and stay competitive. Whether your business has international presence, is considering the beginning of an international expansion or, if you’re in the middle of revising your expansion plan, then this show is for you. About Mike Michael Madsen [http://www.bdo.ca/en-CA/our-people/michael-madsen-1] is the International Liaison Partner for BDO Canada, maintaining a global business role to the BDO Global organization with representation in over 164 countries worldwide. He is responsible for ensuring BDO is positioned to be the provider of choice for clients operating internationally. Michael is born and raised in Vancouver, is the father of 3 children, and is an avid soccer fan. Michael is also an outdoor cat, and enjoys spending time doing yard work followed by a cold beer as a reward for the hard work. Over 100 years of BDO in Canada What began with a small office in Winnipeg over 100 years ago has grown to more than 100 locations across Canada and thousands more around the world. BDO Canada [https://www.bdo.ca/en-ca/home/] has come a long way since founder Colonel James M. Dunwoody left Belfast for Canada, starting a firm of chartered accountants. National and international alliances were formed through a series of partnerships, helping position BDO for success in Canada. Today, we offer 4,000 professionals in offices from Vancouver to St. John’s, serving clients across many industries. In 2021, we celebrated the significant milestone of our centennial [https://celebrations.bdo.ca/bdo-100]. Throughout the year, we highlighted our history, challenges we’ve overcome, our growth, the ways we give back to our communities, our people, our leaders, and our clients that have made BDO what it is today. Locations and strategies may have changed, but our focus has not. We remain committed to understanding our clients’ needs, fostering strong relationships through hands-on partner involvement, and delivering exceptional service. And as our clients grow, our capabilities expand with them, always in pursuit of providing the highest levels of strategic insight and technical skill. Disclaimer The information in this podcast is provided for general informational purposes only. It may not reflect the current law in your jurisdiction and it should not be taken as, and it is not intended to render accounting, tax, consultative, investment, legal or other professional advice or services.  These podcasts reflect the opinions of only the authors who are associated persons of BDO Canada and any third-party information provided therein, at the time of recording and do not reflect the views of BDO Canada LLP or any of its subsidiaries or affiliates.  This podcast is not intended as a substitute for professional advice - listeners should not rely on, act upon, or fail to take any action based on the content or information found here without first seeking appropriate advice from an accountant, financial planner, lawyer or other qualified professional.  Please do not disregard any professional advice or delay in seeking professional advice because of something you have heard here.

Mergers and Acquisitions Fails

This episode explores Merger and Acquisition fails. How did one of the biggest retail tech giants in North America stumble on their way to expanding globally? In the years after the 2008 financial crisis, one part of Best Buy’s recovery plan was to expand into the United Kingdom and China, neither went well, this is what happened. Best Buy also received a lot of praise for being one of the few traditional brick-and-mortar retailers to survive the retail apocalypse that killed or significantly weakened many of its competitors, like Sears and Kmart. Its stock peaked back in 2018 and it’s still the top retailer of consumer electronics, even beating out e-commerce giant Amazon. But in the years after the 2008 financial crisis, one part of Best Buy’s recovery plan failed spectacularly on two fronts: its expansion into the United Kingdom and China proved disastrous. In the UK, after just two years, the company closed its 11 bigbox stores and exited the country. Guest Ryan Farkas [https://www.bdo.ca/en-ca/our-people/ryan-farkas-1/], Managing Director of M&A and Capital Markets for BDO in Toronto. Ryan has been working with private companies in Canada advising them on mergers and acquisitions for over 18 years About the show This show is about doing business globally. We provide expert insights for Canadian companies looking to enter new markets and stay competitive. Whether your business has international presence, is considering the beginning of an international expansion or, if you’re in the middle of revising your expansion plan, then this show is for you. About Mike Michael Madsen [http://www.bdo.ca/en-CA/our-people/michael-madsen-1] is the International Liaison Partner for BDO Canada, maintaining a global business role to the BDO Global organization with representation in over 164 countries worldwide. He is responsible for ensuring BDO is positioned to be the provider of choice for clients operating internationally. Michael is born and raised in Vancouver, is the father of 3 children, and is an avid soccer fan. Michael is also an outdoor cat, and enjoys spending time doing yard work followed by a cold beer as a reward for the hard work. Over 100 years of BDO in Canada What began with a small office in Winnipeg over 100 years ago has grown to more than 100 locations across Canada and thousands more around the world. BDO Canada [https://www.bdo.ca/en-ca/home/] has come a long way since founder Colonel James M. Dunwoody left Belfast for Canada, starting a firm of chartered accountants. National and international alliances were formed through a series of partnerships, helping position BDO for success in Canada. Today, we offer 4,000 professionals in offices from Vancouver to St. John’s, serving clients across many industries. In 2021, we celebrated the significant milestone of our centennial [https://celebrations.bdo.ca/bdo-100]. Throughout the year, we highlighted our history, challenges we’ve overcome, our growth, the ways we give back to our communities, our people, our leaders, and our clients that have made BDO what it is today. Locations and strategies may have changed, but our focus has not. We remain committed to understanding our clients’ needs, fostering strong relationships through hands-on partner involvement, and delivering exceptional service. And as our clients grow, our capabilities expand with them, always in pursuit of providing the highest levels of strategic insight and technical skill. Disclaimer The information in this podcast is provided for general informational purposes only. It may not reflect the current law in your jurisdiction and it should not be taken as, and it is not intended to render accounting, tax, consultative, investment, legal or other professional advice or services.  These podcasts reflect the opinions of only the authors who are associated persons of BDO Canada and any third-party information provided therein, at the time of recording and do not reflect the views of BDO Canada LLP or any of its subsidiaries or affiliates.  This podcast is not intended as a substitute for professional advice - listeners should not rely on, act upon, or fail to take any action based on the content or information found here without first seeking appropriate advice from an accountant, financial planner, lawyer or other qualified professional.  Please do not disregard any professional advice or delay in seeking professional advice because of something you have heard here.

Lost in Translation

Successful global marketing strategies depend on a company’s understanding of how culture affects consumer reactions in each of its international markets. In turn, they must also understand how their strategies affect those cultures. In this episode, how companies got, "lost in translation". Guest Deborah Williams-Walshe. Deborah is the National Markets Director for Strategic Initiatives at BDO. She has over twenty years of experience in driving organizational growth through strategic development, tactical implementation, and successful execution of revenue-focused marketing strategies in Canada, Europe, and the UK. About the show This show is about doing business globally. We provide expert insights for Canadian companies looking to enter new markets and stay competitive. Whether your business has international presence, is considering the beginning of an international expansion or, if you’re in the middle of revising your expansion plan, then this show is for you. About Mike Michael Madsen [http://www.bdo.ca/en-CA/our-people/michael-madsen-1] is the International Liaison Partner for BDO Canada, maintaining a global business role to the BDO Global organization with representation in over 164 countries worldwide. He is responsible for ensuring BDO is positioned to be the provider of choice for clients operating internationally. Michael is born and raised in Vancouver, is the father of 3 children, and is an avid soccer fan. Michael is also an outdoor cat, and enjoys spending time doing yard work followed by a cold beer as a reward for the hard work. Over 100 years of BDO in Canada What began with a small office in Winnipeg over 100 years ago has grown to more than 100 locations across Canada and thousands more around the world. BDO Canada [https://www.bdo.ca/en-ca/home/] has come a long way since founder Colonel James M. Dunwoody left Belfast for Canada, starting a firm of chartered accountants. National and international alliances were formed through a series of partnerships, helping position BDO for success in Canada. Today, we offer 4,000 professionals in offices from Vancouver to St. John’s, serving clients across many industries. In 2021, we celebrated the significant milestone of our centennial [https://celebrations.bdo.ca/bdo-100]. Throughout the year, we highlighted our history, challenges we’ve overcome, our growth, the ways we give back to our communities, our people, our leaders, and our clients that have made BDO what it is today. Locations and strategies may have changed, but our focus has not. We remain committed to understanding our clients’ needs, fostering strong relationships through hands-on partner involvement, and delivering exceptional service. And as our clients grow, our capabilities expand with them, always in pursuit of providing the highest levels of strategic insight and technical skill. Disclaimer The information in this podcast is provided for general informational purposes only. It may not reflect the current law in your jurisdiction and it should not be taken as, and it is not intended to render accounting, tax, consultative, investment, legal or other professional advice or services.  These podcasts reflect the opinions of only the authors who are associated persons of BDO Canada and any third-party information provided therein, at the time of recording and do not reflect the views of BDO Canada LLP or any of its subsidiaries or affiliates.  This podcast is not intended as a substitute for professional advice - listeners should not rely on, act upon, or fail to take any action based on the content or information found here without first seeking appropriate advice from an accountant, financial planner, lawyer or other qualified professional.  Please do not disregard any professional advice or delay in seeking professional advice because of something you have heard here.

Target's Supply Chain Fail

Target’s failed international expansion into Canada is a cautionary tale underscoring the importance of having a solid strategic plan before expanding into a new market. This is what can happen when you take the "supply" out of the chain. Guest Charmaine Goddeeris [https://www.bdo.ca/en-ca/our-people/charmaine-goddeeris-1/]. Charmaine is a Senior Manager in BDO's Customs & International Trade practice providing customs and international trade consulting services to clients in a wide range of industries. About the show This show is about doing business globally. We provide expert insights for Canadian companies looking to enter new markets and stay competitive. Whether your business has international presence, is considering the beginning of an international expansion or, if you’re in the middle of revising your expansion plan, then this show is for you. About Mike Michael Madsen [http://www.bdo.ca/en-CA/our-people/michael-madsen-1] is the International Liaison Partner for BDO Canada, maintaining a global business role to the BDO Global organization with representation in over 164 countries worldwide. He is responsible for ensuring BDO is positioned to be the provider of choice for clients operating internationally. Michael is born and raised in Vancouver, is the father of 3 children, and is an avid soccer fan. Michael is also an outdoor cat, and enjoys spending time doing yard work followed by a cold beer as a reward for the hard work. Over 100 years of BDO in Canada What began with a small office in Winnipeg over 100 years ago has grown to more than 100 locations across Canada and thousands more around the world. BDO Canada [https://www.bdo.ca/en-ca/home/] has come a long way since founder Colonel James M. Dunwoody left Belfast for Canada, starting a firm of chartered accountants. National and international alliances were formed through a series of partnerships, helping position BDO for success in Canada. Today, we offer 4,000 professionals in offices from Vancouver to St. John’s, serving clients across many industries. In 2021, we celebrated the significant milestone of our centennial [https://celebrations.bdo.ca/bdo-100]. Throughout the year, we highlighted our history, challenges we’ve overcome, our growth, the ways we give back to our communities, our people, our leaders, and our clients that have made BDO what it is today. Locations and strategies may have changed, but our focus has not. We remain committed to understanding our clients’ needs, fostering strong relationships through hands-on partner involvement, and delivering exceptional service. And as our clients grow, our capabilities expand with them, always in pursuit of providing the highest levels of strategic insight and technical skill. Disclaimer The information in this podcast is provided for general informational purposes only. It may not reflect the current law in your jurisdiction and it should not be taken as, and it is not intended to render accounting, tax, consultative, investment, legal or other professional advice or services.  These podcasts reflect the opinions of only the authors who are associated persons of BDO Canada and any third-party information provided therein, at the time of recording and do not reflect the views of BDO Canada LLP or any of its subsidiaries or affiliates.  This podcast is not intended as a substitute for professional advice - listeners should not rely on, act upon, or fail to take any action based on the content or information found here without first seeking appropriate advice from an accountant, financial planner, lawyer or other qualified professional.  Please do not disregard any professional advice or delay in seeking professional advice because of something you have heard here.