Norstrat – Everything Know About Northern Strategy of Canada
Norstrat Consulting: Review and Overview
By TOI Staff December 10, 2022 Update on : December 25, 2022
Nowadays, businesses are everywhere; they have changed our world for the better. They are also one of the most lucrative sources of wealth. Most of the wealthiest men and women in the world are business owners.
But becoming rich through business is challenging. Every year an uncountable number of people start their businesses, hoping to become one of the richest, but few succeed. Most businesses fail and go bankrupt or remain mediocre. Only a handful of them develops enough and become successful.
A business needs a lot of knowledge and know-how about its target area if it wants to be successful. It also needs strategies to overcome competitors and sell more of its products or services.
Some well-established businesses have management personnel with the required knowledge or skills. But most new businesses need such talented individuals. So, they need the help of professionals that can provide them with the required knowledge. Devise strategies for them, and help train their management personnel.
Such business advisors are called business consultants. And companies in the consultancy industry are called consultant companies. In this article, we will discuss a Canadian consulting company called Norstrat.
What is Norstrat?
Norstrat is a Canadian consulting company focused on helping businesses in the northern part of Canada. The northern part of Canada is in the arctic region, which takes up almost 40% of entire Canada. That is a huge area that represents countless business and economic opportunities.
This area is undeveloped due to its harsh environment and low population. But the Canadian government has now noticed its potential. They have taken the initiative to develop this remote area. They are rigorously building roads and infrastructure while encouraging businesses to develop here.
Many new businesses are moving to the northern regions after seeing its development. Norstrat helps these businesses by providing them with technical, management, and strategic support.
A brief history of Norstrat
Norstrat consulting was founded by Lee Carson, an authoritative member of northern strategy, in 1988. It started as a small company with a single office and few employees. Now it is a big name in the northern consulting industry.
They are trying their best to help build and improve the northern part of Canada. Many startups in Northern Canada have received their help. And those startups have now become successful businesses.
What is the Northern Strategy of Canada?
The northern strategy of Canada focuses on the regional development of Northern Canada. The Canadian government introduced it in 2007. Northern Canada is a massive province that makes up 40% of Canada’s landmass.
This region is situated in Arctic Circle, so the environment is very harsh for humans. But precisely because of this fact, it still has all kinds of unexploited resources. Northern Strategy is all about developing the potential of this area to its fullest.
Northern Strategy focuses on the following:
- Maintaining Canada’s presence and sovereignty in the Arctic.
- Social and economic development of the northern region and the whole Country.
- Protecting Northern Canada’s heritage and environment.
- Strengthening the governance in the Northern region of the Country.
Progress of northern strategy
The government of Canada is now encouraging new startups and businesses to develop in Northern Canada. They want to improve the economic situation of this region. Their strategy has proven to be very effective.
Many companies, especially exploration companies, are exploring the region’s natural resources. The government has also invested in building roads and other infrastructure. They want to connect the north with other parts of the Country.
The main goals of the Northern Province are as follows:
The primary goal of the Northern Strategy is to develop the community of the northern region. The government wants to ensure that people living there can have a high-quality and sustainable life.
For this, the government is taking initiatives to develop local industries, such as Tourism, Fisheries, and Mining.
As mentioned above, the northern area of Canada has abundant reserves of resources. The government wants to use these resources to create a sustainable local economy. These huge resource reserves provide fertile grounds for developing various resource extraction industries.
Some valuable minerals of the North area are:
- Various Rare-earth elements
Another initiative of the Canadian government is to teach skills to northern Canadians. The cornerstone of a prosperous economy is to have a skilled workforce. The government is taking the initiative to train the northern population. The goal is to enable the local population to enjoy better job opportunities.
Some important government initiatives are as follows:
- Adult education: In this program, they teach you to have basic literacy, essential skills, and professional skills. This program’s goal is the make people eligible for work.
- Assist college graduates in finding appropriate jobs.
- Help and encourage northern aboriginal tribes to take part in local economic opportunities.
To support business development in the northern region, they are trying to help all small and large businesses expand and develop. They also help business train their employees and provide financial advice.
What Services does Norstrat provide?
Norstrat provides various services to government departments and public industries in Northern Canada. They are as follows:
Provide strategic advice
Norstrat helps its clients (businesses) check possible risks and prospects of their projects. It also helps them devise strategies to tackle various emergencies.
Provide subject matter expertise
Norstrat has decades of experience in helping and guiding various businesses in the arctic region. As a result, they have lots of senior members that are experts in various subjects and industries.
It can provide businesses with subject matter experts for their industry and projects. These experts can provide guidance, training, and strategy. They help their clients achieve their goals in the most efficient way possible.
Guide how to develop your business according to northern strategy
Every region has different laws, regulations, and business environments. So businesses in a region must adapt to that region to make the best use of available opportunities. Norstrat Consulting is the expert in North Canada and Northern Strategy.
They guide their clients in making the best use of the northern strategy. They can help them in getting more benefits and avoid risks.
Provide project definition support
Project definition may sound simple or unimportant, but it is one of the key components that determine the success of your project. If you mess up during this phase, your project might be at risk of failure.
So, this step is a very important and technical job. Many new companies might need more suitable staff that specialize in this area. Norstrat helps these businesses to complete their project definition perfectly. They have a lot of experts with experience in this area.
They can help avoid rookie mistakes that may cost them a lot during the later stages of the project.
Memoranda to Cabinet
A Memorandum is a way through which you appeal to the Cabinet about policy changes or funding. These Memoranda must be in a specific format and context; not everyone can write them.
Norstrat provides services of writing memoranda to Cabinet for its clients. It ensures that your memorandum is in the most professional format and is free of errors.
Provide Operational requirements definition
An Operational Requirement is a clear statement that states the goal you want to achieve and within what time. Like everything else mentioned above, this process also requires technical expertise. Any company that feels they need help completing this step can hire Norstrat.
Procurement strategy definition
A procurement strategy is all about how to get the required materials, products, or services from other companies. It is vital because most companies process the procured goods to make their product.
So, having the right procurement strategy makes a lot of difference. Norstrat consulting has been working in the Northern area for decades. They know all the local well-established companies.
They can help their client select the right procurement targets. And also help them negotiate deals with the selected targets.
Provide bid management support
Bid Management is also a complicated process. Only a few companies are well-equipped to complete this task with confidence. Norstrat provides bid management services to companies that need help in this area.
Provide Risk Management
Risk management is another vital process that plays a key role in keeping the project on the right track. It is a complicated process in which a company identifies as many risks to the project as possible. Then calculate the probability of those risks happening. And finally, finding treatment plans for those risks if they actually happen.
Many small companies don’t have large enough teams. They can’t invest in risk management without affecting the project. For such situations, Norstrat provides a risk management service. It can help these companies do all the risk management work for their project.
Companies and businesses need to change with time according to external situations. Changing and adapting in a timely manner is very important because the businesses that don’t change fail and disappear.
But the problem with change is that it is difficult to put it into practice. First, you need to identify what you need to change. Then you need to convince the related personnel to implement the change. Both of these steps are difficult and frustrating.
Identifying change needs visions and a lot of brainstorming. Then you need to go through a complicated process to identify the benefits of changing and the risks of not changing. After this comes to a harder step, convincing everyone else that making the change is the right thing.
Norstrat provides a change management service to help companies identify and apply the changes.
Important clients of Norstrat
Norstrat is a veteran company with decades of experience. It has helped a lot of business and government departments over its long career. Some notable ones are as follows:
- Aerospace Review
- Canadian Coast Guard
- Canadian Space Agency
- Aerospace & Defence Industry Association of Newfoundland & Labrador
- Airbus Defence and Space
- Aker Solutions
- Astrium SAS
- Canadian Light Source
- General Dynamics Canada
- Hill+Knowlton Canada
- Kraken Sonar Systems
- L-3 Mario
- L-3 MAS
- L-3 Ocean Systems
- MacDonald Dettwiler
- Northrop Grumman
- Petroleum Research Newfoundland and Labrador
- Raytheon Canada Support Services
- Saab Technologies Canada
- SK Films
- Ultra Electronics Marine Systems
Frequently Asked Questions
What kinds of business does Norstrat help?
Norstrat only helps firms that want to develop in Northern Canada by following Northern Strategy.
Is Norstrat active on a global scale?
Norstrat Consulting focuses only on the Northern area of Canada. It doesn’t assist businesses anywhere else.
Where is Norstrat’s expertise?
Norstrat has extensive experience and expertise in the following: 1. Business Growth: Promoting growth in new businesses. 2. Project Management: Help manage all kinds of projects. 3. Training Personnel: Help train management talents and leadership skill.
Where is the head office of Norstrat?
Norstrat’s headquarters are in the Capital of Canada, Ottawa. It is near various government agencies related to northern strategy.
How to contact Norstrat Consulting?
You can visit their official website at norstrat.ca. You can call them at +1 613-986-0388 or email them at email@example.com.