It’s time to talk about Canada’s innovation crisis
To all Canadian CEOs, Executives, Business Owners and Leaders,
The Conference Board of Canada reports that we continue to fall behind on innovation as a country. In fact, a recent report states:
- Despite a decade or so of innovation agendas and prosperity reports, Canada remains near the bottom of its peer group on innovation, ranking 13th among the 16 peer countries.
- Countries that are more innovative are passing Canada on measures such as income per capita, productivity, and the quality of social programs.
- So far, there are no conclusive answers—or solutions—to Canada’s poor innovation ranking.
In addition, in a recent Globe and Mail article, the Canadian business approach to innovation is described as follows:
In our tolerant, mild-mannered way, we simply acquiesce to mediocrity. We shrug our shoulders, because there is no real option.
As a proud Canadian businessman dedicated to innovation, I am not okay with being ranked 13th in a pool of 16 of our peer countries. And by working with leading CEOs and executives who are driving innovation, I confidently know that there are conclusive answers, solutions and options to make innovation happen in our companies and improve our standing.
In the companies that we work with, the key secret ingredient to successfully driving and achieving innovation is the leader. It starts at the top – 100% of the time.
It can seem like an overwhelming undertaking, but leaders who want to drive innovation in their organization can start with these steps:
- Commit to innovation as being the key strategy for growth;
- Implement an innovation system that engages all employees;
- Align and engage leadership with an accountability to deliver tangible innovation results.
The good news in all of this is that you are in control of your innovation story. We can do this! I challenge you to join me on a mission to drive Canada closer to the top spot for innovation: one leader, one company, one city, and one province at a time.
Let’s finally give the Globe and Mail and the Conference Board of Canada something new to report.
Your Canadian partner in innovation,
John Ferris, CEO