2009 Vancouver island State of the Island Summit Survey


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Patrick Marshall surveyed Delegates from the 2008 Summit to determine the Economic Outlook for the Region.

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2009 Vancouver island State of the Island Summit Survey

  1. 1. www.viea.ca | www.oceanmarinespace.com | www.patrickmarshall.tel slide 1 State of the Island Outlook 2009 Summit Leadership Survey Final* Presented by the Vancouver Island Economic Alliance with support from OCEAN Industries BC
  2. 2. www.viea.ca | www.oceanmarinespace.com | www.patrickmarshall.tel slide 2 This work was donated by the people that volunteer at OCEAN Industries BC They work everyday on behalf of people that support a clean, safe and secure Ocean and Marinespace Economy in British Columbia and Canada at www.oceanmarinespace.com
  3. 3. www.viea.ca | www.oceanmarinespace.com | www.patrickmarshall.tel slide 3 Top Ten Business Risks Q4 2009 Red = Hot | Quick Amber = Caution | Slow Green = Cooling | Slower Q1 From Q4 To Ernst & Young Business Risks: 2009 Vancouver Island Summit Edition 7 1 Managing Talent [Need to retain people and workforce]  3 2 Deepening Recession [Shocks to Procurement driving purchasers away]  11 3 Consumer demand shifts [A failure to understand consumer demand shifts is organizational suicide]  20 4 Shifting demographics  16 5 Managing intellectual capital  1 6 The Credit Crunch [Tighter credit environment access to capital]  14 7 Emerging Technologies [New technologies such as clean tech are constantly emerging]  6 8 Cost Cutting [Cost containment for survival impacting suppliers & consumers]  18 9 Inability to innovate  12 10 Emerging Markets [Markets in China, India and Russia modernize, levels of domestic competition increase] 
  4. 4. www.viea.ca | www.oceanmarinespace.com | www.patrickmarshall.tel slide 4 Bottom Business Risks Q4 2009 Red = Hot | Quick Amber = Caution | Slow Green = Cooling | Slower Q1 From Q4 To Ernst & Young Business Risks: 2009 Vancouver Island Summit Edition 15 11 Capital allocation [Making large long term investments pay off in a short term market]  4 12 Radical Greening [Environmental and sustainability issues, carbon management]  24 13 Managing new business models [not building support infrastructure fast enough]  8 14 Executing alliance and transactions [ Mergers and acquisitions slowed, alliances and partnerships critical]  13 15 Globalizing the Enterprise [Striking the right balance between standardization and localization]  2 16 Regulation and Compliance [Response to Credit, Environment, Workplace Safety]  19 17 Infrastructure risks  17 18 Energy shocks  10 19 Reputation Risks [Environment and climate concerns threaten organization reputations]  23 20 Supply chain and extraprise [critical threats easily forgotten until next crisis]  5 21 Non-Traditional Entrants [New competitors for declining order files]  9 22 Business Model Redundancy [Tech and Industry Transition makes approach to operations obsolete]  22 23 Model risk [Backward looking risk management]  21 24 New owners 
  5. 5. www.viea.ca | www.oceanmarinespace.com | www.patrickmarshall.tel slide 5 Top Ten Ranked Extreme Relevance to the Island Factors from the Conference Board of Canada Please provide your impression of the relevance to the Vancouver Island Economy of the following indicators: ["D" indicates Letter Grade and # indicates rank out of 10 markets] Answer Options Low Relevance Medium Relevance High Relevance Extreme Relevance Cost of Doing Business Index [C 7] 1 18 30 15 Employment Growth [B 3] 4 13 34 12 Investment in Information and Communications Technology as a percentage of GDP [C 5] 1 22 29 11 Venture Capital Investment [D 3] 4 22 26 11 Business Expenditures on R&D as a percentage of GDP [D 6] 4 16 33 10 Government Expenditures on R&D as a percentage of GDP [D 10] 3 22 29 10 Apprenticeship Completion [D 6] 1 17 36 9 Services Labour Productivity Growth [D 10] 3 17 32 8 Overall Labour Productivity Level [D 8] 1 15 38 7 Overall Labour Productivity Growth [D 9] 1 18 36 7
  6. 6. www.viea.ca | www.oceanmarinespace.com | www.patrickmarshall.tel slide 6 Challenges to your Operations Q4 2009 Indicates need for more future vision for direction. Rate the impact of the following four categories of challenges as they pertain to your operations. Answer Options Rating 4. Strategic Issues High to Extreme 2. Financial Issues High to Extreme 3. Operational Issues Medium to High 1. Compliance Issues Low
  7. 7. www.viea.ca | www.oceanmarinespace.com | www.patrickmarshall.tel slide 7 Alliance Goals are Ranked and Rated at Q4 The numbers correspond to how these Goals are stated in Policy The Goals of the Vancouver Island Economic Alliance are: Answer Options Rating 1. To promote a sustainable and diversified economy for all residents of the Vancouver Island economic region; High to Extreme 4. To promote regional initiatives that strengthen economic capacity; High to Extreme 3. To provide regional leadership for regional business retention and expansion; and; Medium 2. To promote strong communities and First Nations and careful stewardship of our natural resources. Medium
  8. 8. www.viea.ca | www.oceanmarinespace.com | www.patrickmarshall.tel slide 8 Alliance beliefs Ranked and Rated at Q4 These Belief Statements are ranked in importance in Q4 The Alliance is premised on the following basic beliefs. How do you rate these?: Answer Options Rating C. The considerable economic and social transition that is underway on Vancouver Island, from a mainly resource based extraction economy, to more of an information and service based regional economy, presents challenges and opportunities that can best be addressed through collective action; High D. Shared resources can increase access to the investment community and enhance our competitiveness and ability to attract skilled workers. High B. The limited regional critical mass adds to the challenge of competing effectively in the global economy. We want to position Vancouver Island to be a serious contender for investment in BC; High A. Shared economic issues that need more effective and informed leadership can be addressed through regional collaboration; Medium
  9. 9. www.viea.ca | www.oceanmarinespace.com | www.patrickmarshall.tel slide 9 Rating of Alliance Strategies These Strategies are ranked in importance in Q4 The Alliance currently engages four strategies. How do you rate the importance of these subjects?: Answer Options Rating A. Marketing Vancouver Island - To compete effectively for investment and skills attraction, we require clear, positive, and effective regional brand identity built upon core values and strengths found within the region; High D. Investment and Workforce Attraction and Retention - The Alliance has undertaken a program to actively promote Vancouver Island to investors and skilled employees. High C. Assist in Building Capacity in Rural and Remote Regions - Identify, promote and support economic diversification efforts in First Nations and remote communities; and; Moderate B. Expanding the Alliance and Excelling as a Member driven financially sustainable organization - The Summit is one of several initiatives designed to weld relationships; Moderate
  10. 10. www.viea.ca | www.oceanmarinespace.com | www.patrickmarshall.tel slide 10 Respondents Operate in this Industry Basic Industrial Divisions of the Economy
  11. 11. www.viea.ca | www.oceanmarinespace.com | www.patrickmarshall.tel slide 11 Respondents Length of Employment This represents the number of years Employed with their current employer
  12. 12. www.viea.ca | www.oceanmarinespace.com | www.patrickmarshall.tel slide 12 Respondents Role with Employer This represent the level of Accountability in the Organization
  13. 13. www.viea.ca | www.oceanmarinespace.com | www.patrickmarshall.tel slide 13 Respondents Gender
  14. 14. www.viea.ca | www.oceanmarinespace.com | www.patrickmarshall.tel slide 14 Respondents Home Region These are British Columbia’s Development Regions
  15. 15. www.viea.ca | www.oceanmarinespace.com | www.patrickmarshall.tel slide 15 Respondents Locale These are Tribal and Municipal Regional Districts I Live and Work in this Island Coast Region: Answer Options Response Percent Nuxalk Territory 0.0% Oweekeno Territory 0.0% Central Coast Regional District 1.5% Mount Waddington Regional District 1.5% Kwakwaka'wakw Territory 0.7% Strathcona Regional District 6.0% Naut'sa mawt Territory 0.7% Comox Valley Regional District 6.7% Nuu-chah-nulth Territory 2.2% Powell River Regional District 0.7% Sunshine Coast Regional District 0.0% Nanaimo Regional District 38.1% Alberni Valley Regional District 3.7% Cowichan Valley Regional District 4.5% Islands Trust 0.0% Coast Salish Territory 1.5% Capital Regional District 32.1%
  16. 16. www.viea.ca | www.oceanmarinespace.com | www.patrickmarshall.tel slide 16 Respondents View This is the lens that Respondents view the economy. Each is Unique and offers bias.
  17. 17. www.viea.ca | www.oceanmarinespace.com | www.patrickmarshall.tel slide 17 Respondents Place of Origin Experience also colours the View of the economy I was born and bred in the following region: Answer Options Response Percent Vancouver Island Coast 25.7% Mainland Southwest 17.1% Thompson Okanagon 4.3% Kootenay 0.7% Cariboo 0.7% North Coast 0.7% Nechako 0.0% Northeast 0.7% Rest of Canada 43.6% Asia Pacific 0.0% Europe 5.7% Africa 0.0% Australia 0.0% South America 0.7%
  18. 18. www.viea.ca | www.oceanmarinespace.com | www.patrickmarshall.tel slide 18 Respondents Employers Broad cross section of interests
  19. 19. www.viea.ca | www.oceanmarinespace.com | www.patrickmarshall.tel slide 19 Respondents Education
  20. 20. www.viea.ca | www.oceanmarinespace.com | www.patrickmarshall.tel slide 20 Respondents with < 3 Years Experience This demonstrates skills sets
  21. 21. www.viea.ca | www.oceanmarinespace.com | www.patrickmarshall.tel slide 21 Respondent Demographics
  22. 22. www.viea.ca | www.oceanmarinespace.com | www.patrickmarshall.tel slide 22 Respondents Responsibility Demonstrates level of Financial Accountability with Employer
  23. 23. www.viea.ca | www.oceanmarinespace.com | www.patrickmarshall.tel slide 23 Academy of Management ACI Administrative Sciences Academy of Canada Alberta Career Management Assoc. Alberta College of Social Workers AMA Aquaculture Association of Canada ASLRR Assoc. of BC Professional Foresters Association of Film Commissioners International ASTTBC BC Aviation Council BC Business Council BC Career Development Association BC Chamber Executives BC Chamber of Commerce BC Human Resource Management Association BC Museums Assoc. BCAB BCAC BCCDA BCTF Better Business Bureau C.A. CAC CACEE CAFCE Campbell River Chamber Of Commerce Canadian Accredited Insurance Brokers Canadian Chamber Executives Canadian Museums Association Canadian Tax Foundation CCSBE CFIB CFIG CGA BC Chartered Accountant Chartered Insurance Professionals CICA CIP CITT CMA CMC Community Futures Comox Valley Chamber of Commerce COTA CPRS CREA Credit Union Executive Association CSAE CTAA Ducks Unlimited Canada Economic Developers Association of BC Economic Development Group EDAC EDC European Group on Organization Studies Gateway Council Greater Nanaimo Chamber of Commerce GVCC GVTA IAAE Institute of Chartered Accountants Of BC Insurance Institute of Canada International Assoc of Privacy Professionals International Association of Airport Executives International Fiscal Association Island Professional Event Networking MBACSC Nanaimo Chamber of Commerce Nanaimo Economic Development Group Nanaimo Executive Association OCEAN Industries BC Oceanside Women's Business Network PIBC Professional Accountant Professional Engineers of BC Professional Institute of the Public Service of Canada Project Management Institute RAC Reputation Management Institute Rotary Rotary International Small Business BC SME The Secretan Center for Higher Ground Leadership as a Higher Ground Leadership Associate ToastMasters International Toastmasters International Tourism Nanaimo Tourism Victoria TRUCK LOGGERS ASSN TTRA UDI University of Victoria Vancouver Board of Trade Vancouver Island University Victoria Executive Management Club Victoria Hotel Marketing Club Victoria Real Estate Board VIEDA VIREB VIU Foundation Board Westac
  24. 24. www.viea.ca | www.oceanmarinespace.com | www.patrickmarshall.tel slide 24 Summiteers 2005 Maritime Heritage Centre | Campbell River
  25. 25. www.viea.ca | www.oceanmarinespace.com | www.patrickmarshall.tel slide 25 Summiteers 2005 Maritime Heritage Centre | Campbell River
  26. 26. www.viea.ca | www.oceanmarinespace.com | www.patrickmarshall.tel slide 26 Summiteers 2005 Maritime Heritage Centre | Campbell River
  27. 27. www.viea.ca | www.oceanmarinespace.com | www.patrickmarshall.tel slide 27 Summiteers 2005 Maritime Heritage Centre | Campbell River