BUSN 3200-001 – Assignment 1 Select one company of your choice and explain its business (goods and/or services, customers, etc). Using two out of the four pillars of trade finance as your framework, explain how the company uses these pillars in its businesses. BCE Inc., founded in 1983 by Charles Fleetford Sise, has established itself as a colossal company in field of communications by constantly investing in next generation ideas to render broader and quality services of broadband to customers across Canada not only for profit but for better bond between Bell and costumers.
This publically traded company is one of the largest in the industry in telecommunication and mass media network in the country with a number of subsidiaries. The company is spreading very efficient system of broadband network in Eastern Canada with an estimated investment of about a billion dollars in next 5 years. The company has also worked towards expanding their 4G LTE and LTE networks for quality service to the customers all over Canada taking into consideration the growing demand of data. BCE Inc. most importantly practice the understated pillars of trade and finance in its business.
(BCE Inc., 2017b). Risk MitigationThe board is responsible for the risk oversight program while business units are responsible to curb out problems and risks. The operating business units are helped out at every potential step by the variety of corporate support functions which provides independent expertise that manages risk in functioning.
The next step is the Internal Audit process that proves to be a support system to operational business units and help audit committees to keep control within the organization. To sum it up these are three layers that act as three lines of preliminary screening of the risk and appropriate resistance to possible risk in ensuring quality work. (BCE Inc., 2017a). PaymentMajority of the business revenue for BCE Inc. and its subsidiaries comes in the form of monthly payment plan by the customers for the services rendered. Wireless Payment Service plan is being introduced by the company to revolutionize m-commerce by introducing standardize and safe process of doing mobile transfers across all the wireless communication providers in Canada.
Bell Mobility, BCE Inc. and Rogers wireless are the co-owners of Wireless Payment Services. “With anytime, anywhere payments representing the next frontier of wireless service, Wireless Payment Services’ mandate is to develop standardized, secure and easy-to-use mobile payment capabilities that work with existing debit and credit capabilities offered by Canada’s financial institutions and across all national Canadian wireless carriers,” said Jeff Chorlton, President of Wireless Payment Services.
(BCE Inc., 2017c). References: BCE Inc.
(2017a). Corporate governance and risk management. Retrieved from http://www.bce.ca/annual-reports/2016-annual-report/managements-discussion-and-analysis/1-5-corporate-governance-and-risk-management BCE Inc. (2017b). BCE overview. Retrieved from http://www.
bce.ca/aboutbce/bceoverview BCE Inc. (2017c). Bell Mobility, Rogers Wireless and TELUS Mobility launch new m-commerce initiative. Retrieved from http://www.bce.ca/news-and-media/releases/show/bell-mobility-rogers-wireless-and-telus-mobility-launch-new-m-commerce-initiative