“THE NEW GLOBAL REALITY: YOU WANT TO BE
COMPETITIVE, YOU BETTER BE INNOVATIVE!”
by
The Honourable Kevin G. Lynch
Vice-Chair, BMO Financial Group
to
Institute of Public Administration of Canada
L'Institut d'administration publique du Canada
64th Annual Conference
St. John’s Newfoundland
August 20, 2012
Etude RSM International sur la création d'entreprise 2013Société Tripalio
Cette étude analyse le processus de création d'entreprises dans différents pays industrialisés et en donne une estimation statistique. La France est réputé le pays le plus dynamique en créations d'entreprise
This document contains the authors and contact information for S. Aravindan and V. Kannan from Sri Ramakrishna Mission Vidyalaya College of Arts and Science in Coimbatore, India. It also summarizes several trends that may impact global business in the future, including the rising power of emerging markets, the growth of clean technology, demographic shifts transforming the global workforce, disruptive innovation, and the increasing role of data analytics and smart technology.
The document discusses several aspects of the global economy including:
- Trade and foreign direct investment have grown rapidly in recent decades, increasing economic integration.
- Gross world product, the total output of all economies, has grown significantly but global trade has grown even faster.
- Economic growth moves in cycles internationally as economies influence each other through trade, investment, and financial flows. Downturns in one country can spread to others through these global connections.
This document discusses the challenges of transformation societies in developing economies as they transition from labor-intensive to innovation-driven growth models. It addresses the "transformation trap," which is the inability to resolve political, social, and economic contradictions during periods of significant change. Specifically, it argues that:
1) Establishing political stability through an inclusive social compromise between established and emerging classes is essential to lay the foundation for sustainable development during transformations.
2) The development narrative must shift from identity politics and patronage to empowering all through universal access to opportunities and capabilities.
3) Bringing together a broad societal coalition around the vision of a "Good Society" with full capabilities for all can help shape transformations
Future of work Insights from discussions building on an initial perspective ...Future Agenda
The initial perspective on the Future of Work byby Andrew Curry of The Futures Company kicked off the Future Agenda 2.0 global discussions taking place through 2015. This summary builds on the initial view and is updated as we progress the futureagenda2.0 programme. www.futureagenda.org
Since the introduction of globalization process two centuries ago, multinational firms have managed to emerge as central institutions that regulate globalization processes and those that are facilitate trade practices in the global market. To get more details please visit here http://www.mbadissertation.org/sample-paper-on-organizational-behaviour/
The document discusses the globalization of capital markets and financial services. It provides context on how capital markets became global in the late 20th century due to abandoning fixed exchange rates and eliminating foreign exchange controls. As technology advanced, it allowed global capital mobility and integration of once separate national markets. Over time, more types of markets and more countries became interconnected in the global capital market. The document also examines the impacts of globalization and financial deregulation in driving mergers and acquisitions, geographic expansion, and consolidation in the financial services industry.
Etude RSM International sur la création d'entreprise 2013Société Tripalio
Cette étude analyse le processus de création d'entreprises dans différents pays industrialisés et en donne une estimation statistique. La France est réputé le pays le plus dynamique en créations d'entreprise
This document contains the authors and contact information for S. Aravindan and V. Kannan from Sri Ramakrishna Mission Vidyalaya College of Arts and Science in Coimbatore, India. It also summarizes several trends that may impact global business in the future, including the rising power of emerging markets, the growth of clean technology, demographic shifts transforming the global workforce, disruptive innovation, and the increasing role of data analytics and smart technology.
The document discusses several aspects of the global economy including:
- Trade and foreign direct investment have grown rapidly in recent decades, increasing economic integration.
- Gross world product, the total output of all economies, has grown significantly but global trade has grown even faster.
- Economic growth moves in cycles internationally as economies influence each other through trade, investment, and financial flows. Downturns in one country can spread to others through these global connections.
This document discusses the challenges of transformation societies in developing economies as they transition from labor-intensive to innovation-driven growth models. It addresses the "transformation trap," which is the inability to resolve political, social, and economic contradictions during periods of significant change. Specifically, it argues that:
1) Establishing political stability through an inclusive social compromise between established and emerging classes is essential to lay the foundation for sustainable development during transformations.
2) The development narrative must shift from identity politics and patronage to empowering all through universal access to opportunities and capabilities.
3) Bringing together a broad societal coalition around the vision of a "Good Society" with full capabilities for all can help shape transformations
Future of work Insights from discussions building on an initial perspective ...Future Agenda
The initial perspective on the Future of Work byby Andrew Curry of The Futures Company kicked off the Future Agenda 2.0 global discussions taking place through 2015. This summary builds on the initial view and is updated as we progress the futureagenda2.0 programme. www.futureagenda.org
Since the introduction of globalization process two centuries ago, multinational firms have managed to emerge as central institutions that regulate globalization processes and those that are facilitate trade practices in the global market. To get more details please visit here http://www.mbadissertation.org/sample-paper-on-organizational-behaviour/
The document discusses the globalization of capital markets and financial services. It provides context on how capital markets became global in the late 20th century due to abandoning fixed exchange rates and eliminating foreign exchange controls. As technology advanced, it allowed global capital mobility and integration of once separate national markets. Over time, more types of markets and more countries became interconnected in the global capital market. The document also examines the impacts of globalization and financial deregulation in driving mergers and acquisitions, geographic expansion, and consolidation in the financial services industry.
Here are the key facts about SMEs in the EU according to the document:
- Over 99% of all European businesses are SMEs (small and medium-sized enterprises)
- Nine out of ten SMEs are actually micro enterprises with less than 10 employees
- On average, micro enterprises provide work for two people
- SMEs are the main drivers of employment and economic growth in the EU
The document discusses international trade trends for Bangladesh and compares it to global and regional trade patterns. It finds that while Bangladesh's trade has grown, it is becoming more dependent on exports to large developed economies like the EU and US, making it vulnerable to economic downturns in those markets. Recent forecasts project Bangladesh's economic growth will slow to around 6% in the next two years due to declining demand from its major export partners in Europe and North America as they continue to struggle with economic crises.
The presentation group includes Alex Merket, Sena Sevencan, Kan Mihail, and Lissette Plaza. Their presentation discusses how globalization is driving changes in international business. Globalization refers to the increasing integration and interdependence of national economies through cross-border movement of goods, services, technology, and capital. It has led to the globalization of production through outsourcing and the globalization of markets as national markets merge into a single global marketplace. Emerging global institutions like the WTO and IMF also influence international business. Legal systems are globalizing to allow companies to focus on core competencies. Technological advances and declining trade barriers are key drivers of globalization that impact how firms operate globally.
This document discusses the impact of globalization on international business. It begins with an introduction to international business and defines globalization. Globalization has increased economic integration between countries through rising trade, foreign investment, and financial market integration. For businesses, globalization has led to greater competition, access to new technologies and markets, and pressure to meet higher consumer expectations worldwide. It has also allowed more opportunities for outsourcing and procurement internationally. Overall, while globalization presents challenges for international businesses, it also provides significant opportunities to expand operations and take advantage of global markets.
Globalization And Its Affect Upon Domestic Business Practicesjackgowen
The document discusses how globalization has affected domestic business practices. It outlines the four main international institutions that regulate global commerce: the World Trade Organization, International Monetary Fund, World Bank, and United Nations. The text argues that international business should be taught separately from domestic business for four key reasons: differences in cultures, more complex management problems, government intervention issues, and currency conversions. Globalization has increased competition for domestic companies from both domestic and international competitors. Firms must conduct market analysis and develop strategies to gain market share over others operating globally.
Best Performing Cities Index: Austin jumped from #4 to the # 1 position and is the only city to have achieved the #1 ranking twice the last time being in 2000.
Insights from the World Economic Forum in Davos, where world leaders discussed the importance of emerging markets and how technology is changing the way we connect with each other.
“The Success of Small States,” the latest study by the Credit Suisse Research Institute, sheds light on an important trend: the rise of small countries. Covering a variety of factors from the age of countries to trade openness, the report determines the features that make small, independent countries successful on their own.
The document summarizes proceedings from the 2009 Global Competitiveness Forum held in Riyadh, Saudi Arabia. Over two days, prominent speakers and panels discussed responsible competitiveness in areas such as business leadership, energy, food security, arts, human rights, and policy responses to the economic crisis. Key recommendations included the need for visionary and responsible leadership, balancing social and economic goals, protecting labor rights, increasing energy efficiency, improving food supply chains, and supporting the arts to drive creativity.
Presentation on Globalization-Boon or Bane Sakshi Sharma
Globalization refers to increasing economic integration and interdependence between countries through unrestricted trade and financial flows. India adopted economic globalization policies in 1991 due to issues like mounting fiscal deficits and falling foreign exchange reserves. This led to liberalization of trade, privatization of industries, and allowing foreign investment in India. While globalization has increased India's economic growth and international engagement, it has also benefited large corporations more than small farmers and widened wealth inequality. Both opportunities and challenges exist as India progresses with globalization.
A2 CAMBRIDGE GEOGRAPHY: GLOBAL INTERDEPENDENCE - TRADE FLOWS AND TRADING PATT...George Dumitrache
Global trade is worth trillions annually and involves the import and export of goods and services across international borders. Comparative advantage, as developed by David Ricardo, states that countries benefit by specializing in and trading goods and services they can produce relatively more cheaply. However, developing countries often face disadvantages like dependence on primary commodities and unfavorable terms of trade, though regional trade agreements and foreign investment can help increase trade and development.
Since the mid-1980s, sustainable development has been generally used but got predominance
when it became progressively fashionable to use it as a way of reacting to global environmental concerns,
biophysical issues, fairness, equity and distribution. The issue of sustainable development has been a growing
concern to both the government
The document discusses how changes in technology, demographics, and the economy are disrupting labor markets and the world of work. Key points:
1) Structural forces like aging populations, globalization, and technological change have created economic instability and disrupted traditional labor markets.
2) This has led to the emergence of new ways of working, including more flexible and on-demand work arrangements.
3) The labor market is broken and needs reconfiguration to address issues like skills mismatches and changing worker-employer relationships. A new 21st century world of work is emerging from this disruption.
0000004730 global economy and emerging industriesJai Chowdhary
This document discusses different economic systems and stages of economic development around the world. It provides details on market capitalism, centrally planned socialism, and centrally planned capitalism. It also outlines four categories of economic development based on GNI per capita: low-income countries, lower-middle-income countries, upper-middle-income countries, and high-income countries. Finally, it discusses challenges of the modern global economy, including volatile capital flows and the difficulty of economic coordination across borders in today's interconnected world.
13.1 Global Interdependence: Trade flows and trading patternsGeorge Dumitrache
Trade involves the exchange of goods and services between countries. Imports are purchased from other nations while exports are sold abroad. A country's balance of trade depends on whether it imports or exports more. Global trade patterns are influenced by factors like resource distribution, location, and trade agreements. While trade allows nations to specialize, many developing countries face unequal terms of trade and dependency on specific goods or partners. International organizations aim to promote free and fair trade globally.
The document is an Ogilvy report analyzing the 12 fastest growing middle class markets, which it calls the Velocity 12 markets. These 12 markets comprise over half of the world's population and are reshaping global growth as the middle class becomes the majority in local populations. The report discusses key drivers of growth in these markets like gender, culture, urbanization, and technology. It also provides marketing strategies and principles for companies to succeed in these emerging consumer markets, with a focus on understanding local contexts. The Velocity 12 markets present major long-term growth opportunities for global brands due to the rapid expansion of their large and connected middle class populations.
De Hays Global Skills Index is een gedetailleerd rapport dat de uitdagingen op de wereldwijde arbeidsmarkt in kaart brengt. De knelpunten en mismatches van 31 lokale arbeidsmarkten worden blootgelegd en de aanbevelingen in het rapport dienen als advies voor overheden, organisaties, onderwijsinstellingen en overige stakeholders.
This document discusses risks associated with expanding operations into emerging markets. It identifies 43 emerging market countries across Latin America, Africa, the Middle East, and Asia Pacific that multinational companies are considering for expansion. The document examines key considerations for assessing a market's suitability, including economic indicators, property market conditions, impact on costs, ownership quality, transparency of property rights, infrastructure, health and safety, and corruption levels. Country-specific overviews are provided for each region to help weigh risks and opportunities.
Now you’re online, what’s next? - Sage at Accountex 2014Sageukofficial
Everyone’s talking about online, but what if you are already there? What’s next in your journey?
Let Sage guide you through the latest up-and-coming technology that can help take your practice to the cloud and beyond, with sneak previews & insight from the number one cloud provider for accountants.
The document discusses service design for large-scale projects. It outlines the goals of separating functional design from technical development, designing services aligned with a business object model and using BPEL, and increasing automation. The approach involves defining requirements, initial design, detailed design, testing BPEL processes, and integration testing. The project aims to consolidate different integration solutions and front-ends to standardize infrastructure and lower costs.
Here are the key facts about SMEs in the EU according to the document:
- Over 99% of all European businesses are SMEs (small and medium-sized enterprises)
- Nine out of ten SMEs are actually micro enterprises with less than 10 employees
- On average, micro enterprises provide work for two people
- SMEs are the main drivers of employment and economic growth in the EU
The document discusses international trade trends for Bangladesh and compares it to global and regional trade patterns. It finds that while Bangladesh's trade has grown, it is becoming more dependent on exports to large developed economies like the EU and US, making it vulnerable to economic downturns in those markets. Recent forecasts project Bangladesh's economic growth will slow to around 6% in the next two years due to declining demand from its major export partners in Europe and North America as they continue to struggle with economic crises.
The presentation group includes Alex Merket, Sena Sevencan, Kan Mihail, and Lissette Plaza. Their presentation discusses how globalization is driving changes in international business. Globalization refers to the increasing integration and interdependence of national economies through cross-border movement of goods, services, technology, and capital. It has led to the globalization of production through outsourcing and the globalization of markets as national markets merge into a single global marketplace. Emerging global institutions like the WTO and IMF also influence international business. Legal systems are globalizing to allow companies to focus on core competencies. Technological advances and declining trade barriers are key drivers of globalization that impact how firms operate globally.
This document discusses the impact of globalization on international business. It begins with an introduction to international business and defines globalization. Globalization has increased economic integration between countries through rising trade, foreign investment, and financial market integration. For businesses, globalization has led to greater competition, access to new technologies and markets, and pressure to meet higher consumer expectations worldwide. It has also allowed more opportunities for outsourcing and procurement internationally. Overall, while globalization presents challenges for international businesses, it also provides significant opportunities to expand operations and take advantage of global markets.
Globalization And Its Affect Upon Domestic Business Practicesjackgowen
The document discusses how globalization has affected domestic business practices. It outlines the four main international institutions that regulate global commerce: the World Trade Organization, International Monetary Fund, World Bank, and United Nations. The text argues that international business should be taught separately from domestic business for four key reasons: differences in cultures, more complex management problems, government intervention issues, and currency conversions. Globalization has increased competition for domestic companies from both domestic and international competitors. Firms must conduct market analysis and develop strategies to gain market share over others operating globally.
Best Performing Cities Index: Austin jumped from #4 to the # 1 position and is the only city to have achieved the #1 ranking twice the last time being in 2000.
Insights from the World Economic Forum in Davos, where world leaders discussed the importance of emerging markets and how technology is changing the way we connect with each other.
“The Success of Small States,” the latest study by the Credit Suisse Research Institute, sheds light on an important trend: the rise of small countries. Covering a variety of factors from the age of countries to trade openness, the report determines the features that make small, independent countries successful on their own.
The document summarizes proceedings from the 2009 Global Competitiveness Forum held in Riyadh, Saudi Arabia. Over two days, prominent speakers and panels discussed responsible competitiveness in areas such as business leadership, energy, food security, arts, human rights, and policy responses to the economic crisis. Key recommendations included the need for visionary and responsible leadership, balancing social and economic goals, protecting labor rights, increasing energy efficiency, improving food supply chains, and supporting the arts to drive creativity.
Presentation on Globalization-Boon or Bane Sakshi Sharma
Globalization refers to increasing economic integration and interdependence between countries through unrestricted trade and financial flows. India adopted economic globalization policies in 1991 due to issues like mounting fiscal deficits and falling foreign exchange reserves. This led to liberalization of trade, privatization of industries, and allowing foreign investment in India. While globalization has increased India's economic growth and international engagement, it has also benefited large corporations more than small farmers and widened wealth inequality. Both opportunities and challenges exist as India progresses with globalization.
A2 CAMBRIDGE GEOGRAPHY: GLOBAL INTERDEPENDENCE - TRADE FLOWS AND TRADING PATT...George Dumitrache
Global trade is worth trillions annually and involves the import and export of goods and services across international borders. Comparative advantage, as developed by David Ricardo, states that countries benefit by specializing in and trading goods and services they can produce relatively more cheaply. However, developing countries often face disadvantages like dependence on primary commodities and unfavorable terms of trade, though regional trade agreements and foreign investment can help increase trade and development.
Since the mid-1980s, sustainable development has been generally used but got predominance
when it became progressively fashionable to use it as a way of reacting to global environmental concerns,
biophysical issues, fairness, equity and distribution. The issue of sustainable development has been a growing
concern to both the government
The document discusses how changes in technology, demographics, and the economy are disrupting labor markets and the world of work. Key points:
1) Structural forces like aging populations, globalization, and technological change have created economic instability and disrupted traditional labor markets.
2) This has led to the emergence of new ways of working, including more flexible and on-demand work arrangements.
3) The labor market is broken and needs reconfiguration to address issues like skills mismatches and changing worker-employer relationships. A new 21st century world of work is emerging from this disruption.
0000004730 global economy and emerging industriesJai Chowdhary
This document discusses different economic systems and stages of economic development around the world. It provides details on market capitalism, centrally planned socialism, and centrally planned capitalism. It also outlines four categories of economic development based on GNI per capita: low-income countries, lower-middle-income countries, upper-middle-income countries, and high-income countries. Finally, it discusses challenges of the modern global economy, including volatile capital flows and the difficulty of economic coordination across borders in today's interconnected world.
13.1 Global Interdependence: Trade flows and trading patternsGeorge Dumitrache
Trade involves the exchange of goods and services between countries. Imports are purchased from other nations while exports are sold abroad. A country's balance of trade depends on whether it imports or exports more. Global trade patterns are influenced by factors like resource distribution, location, and trade agreements. While trade allows nations to specialize, many developing countries face unequal terms of trade and dependency on specific goods or partners. International organizations aim to promote free and fair trade globally.
The document is an Ogilvy report analyzing the 12 fastest growing middle class markets, which it calls the Velocity 12 markets. These 12 markets comprise over half of the world's population and are reshaping global growth as the middle class becomes the majority in local populations. The report discusses key drivers of growth in these markets like gender, culture, urbanization, and technology. It also provides marketing strategies and principles for companies to succeed in these emerging consumer markets, with a focus on understanding local contexts. The Velocity 12 markets present major long-term growth opportunities for global brands due to the rapid expansion of their large and connected middle class populations.
De Hays Global Skills Index is een gedetailleerd rapport dat de uitdagingen op de wereldwijde arbeidsmarkt in kaart brengt. De knelpunten en mismatches van 31 lokale arbeidsmarkten worden blootgelegd en de aanbevelingen in het rapport dienen als advies voor overheden, organisaties, onderwijsinstellingen en overige stakeholders.
This document discusses risks associated with expanding operations into emerging markets. It identifies 43 emerging market countries across Latin America, Africa, the Middle East, and Asia Pacific that multinational companies are considering for expansion. The document examines key considerations for assessing a market's suitability, including economic indicators, property market conditions, impact on costs, ownership quality, transparency of property rights, infrastructure, health and safety, and corruption levels. Country-specific overviews are provided for each region to help weigh risks and opportunities.
Now you’re online, what’s next? - Sage at Accountex 2014Sageukofficial
Everyone’s talking about online, but what if you are already there? What’s next in your journey?
Let Sage guide you through the latest up-and-coming technology that can help take your practice to the cloud and beyond, with sneak previews & insight from the number one cloud provider for accountants.
The document discusses service design for large-scale projects. It outlines the goals of separating functional design from technical development, designing services aligned with a business object model and using BPEL, and increasing automation. The approach involves defining requirements, initial design, detailed design, testing BPEL processes, and integration testing. The project aims to consolidate different integration solutions and front-ends to standardize infrastructure and lower costs.
The document provides an overview of several 20th century art movements including Conceptualism and Activist Art. It summarizes Conceptual Art as prioritizing ideas over physical objects, with the idea itself considered the work of art. Performance and body art are described as forms that use the artist's body as a medium. Feminist art emerged in the late 1960s/early 1970s as a revolutionary movement addressing gender issues not just a style. Key artists mentioned include Joseph Kosuth, Bruce Nauman, Nam June Paik, Chris Burden, Carolee Schneemann and Judy Chicago.
This home page welcomes the visitor and introduces the creator's personal website created with Joomla. It contains a variety of content like links, a CV, photos, a blog, and even a PhD thesis. The page also introduces the creator's son Pol and his paintings, wife Cristina, and announces that another child is expected who will be named Martí or Josep. The creator hopes the visitor enjoys the page and thanks them for their visit.
This document discusses intellectual property law challenges in the age of internet and converging technologies. It notes that the balance of rights between copyright owners, internet service providers, consumers, and other stakeholders is difficult to maintain as technology advances faster than legal developments. It also examines issues around regulating converged media and the need for coordinated intellectual property legislation to address digital copyright issues raised by new communication technologies. The document surveys IP laws and regulations globally to analyze challenges and solutions around protecting multimedia content, software, and websites in the internet era.
The document describes a lesson plan called "Monster Swap" for grades 1-3. The lesson involves students descriptively writing about monsters they create, then exchanging descriptions with partners via email to draw each other's monsters. The lesson aims to develop writing, collaboration, and technology skills. Key aspects of the lesson including having students describe monster characteristics, email exchanges, drawing monsters from descriptions, and how the lesson aligns with educational standards.
Real-time location awareness technology enables new solutions for hospitals. It allows hospitals to track patients, staff, medical equipment, medications and other assets in real-time. This improves patient safety by preventing medical errors, optimizes staff effectiveness, and enhances workflow efficiency. The AwareCare system from Indralok uses real-time location data to deliver these benefits through automated tracking, alerts, and data analysis capabilities.
ASDA’A Burson-Marsteller, the Middle East’s leading public relations consultancy, today released the seventh edition of The Arab Youth Survey. This annual initiative provides reliable data and insights into the attitudes and aspirations of the region’s 200 million-strong youth population. International polling firm Penn Schoen Berland (PSB) conducted 3,500 face-to-face interviews, the largest survey to date, with exclusively Arab national men and women aged 18-24 in the six Gulf Cooperation Council (GCC) countries of the UAE, Saudi Arabia, Qatar, Kuwait, Oman and Bahrain; Iraq, Egypt, Jordan, Lebanon, Libya, Palestine, Tunisia, Morocco, Algeria and Yemen. The interviews were conducted from January 20 to February 12, 2015.
Participants were interviewed in-depth about subjects ranging from the political to the personal. Topics explored included their concerns and aspirations, their views on the economy and the impact of the Arab Spring, their media consumption habits, attitudes towards traditional values and the people who influence them. Findings from this year’s survey reveal opinions on economy and culture, two of the biggest obstacles facing the Arab region, and uncertainty whether democracy could ever work in the Middle East.
The aim of this annual survey is to present evidence-based insights into the attitudes of Arab youth, providing public and private sector organizations with data and analysis to inform their decision-making and policy formation.
Heather Button's portfolio from November 2009 included bedding designs for major retailers like Walmart, JCPenney, and Sears. It also contained original textile designs targeted towards the juvenile and tween markets, such as reversible beds, dot-patterned designs, animal prints, and theme-based patterns like treasure maps and prehistoric places.
Xcelerator & Mobile Tek Presentation2010patrick08724
Founded in 2000, Xcelerator provides end-to-end logistics solutions for couriers, messengers, and shippers serving labs, hospitals, retailers, and more. Their platform integrates order management, dispatch, mobile apps, and accounting to help clients maximize efficiency and growth. Key features include online and mobile tools for orders, tracking, proof of delivery, invoicing and more. Xcelerator aims to provide clients with powerful, customizable solutions and unparalleled support to streamline operations and expand business.
Este documento explica los prefijos más comunes en español y su origen griego o latino. Define qué es un prefijo y cómo añaden o cambian el significado de las palabras. Luego lista y da ejemplos de varios prefijos, incluyendo su significado original y palabras resultantes en español.
There is a powerful change under way in how innovation happens. This new approach is transforming how intellectual capital connects with financial capital, knocking down ivory towers along the way. Thanks to the globalisation and Googalisation of the world economy, clever ideas from every corner of the world now have the chance to be taken seriously—even if they come from people without fancy credentials. Governments, charities and corporations alike are increasingly turning to open and networked models of innovation, such as the use of incentive prizes, to solve difficult problems.
In future, the difference between success and failure will often be determined not by lack of access to capital, markets, talent, or other conventional obstacles. In the age
of disruptive innovation, resourcefulness will matter more than resources—and success or failure will be determined inside the mind of the innovator.
Are you ready for the revolution?
The document discusses several topics related to business including factors that contribute to rapid business change, the role of entrepreneurship in the economy, how American businesses began focusing on customer needs after WWII, differences between non-profit and for-profit organizations, factors of production, strategies for developing a competitive advantage, and how the rise of the internet has changed business practices. Key points made are that global competition, technology changes, and resource depletion are accelerating the pace of business change. Entrepreneurial success benefits job creation and economic growth. Meeting customer needs became essential to business success due to increased post-war competition. Non-profits contribute to the economy through employment and revenue while partnering with businesses.
Chapter 5 How Managers Use Balance of Payments Data – p.213Do.docxrobertad6
Chapter 5: How Managers Use Balance of Payments Data – p.213
Do some research on the items in the table below and see if you see a pattern with the various country’s economies:
1. What is the G7?
2. What is the E7?
G7 Countries
Continent where the country lies
GDP
Ease of Doing Business
1.
2.
3.
4.
5.
6.
7.
NOTE: When you find the GDP (Gross National Product) note the year – you may not have 2018 statistics. That is okay –find the latest data available. You may need to search for the Ranking of Ease of Doing Business – and then find the countries that make up the G7 or the E7.
NEXT PAGE!
E7 Countries
Continent where the country lies
GDP
Ease of Doing Business
1.
2.
3.
4.
5.
6.
7.
A. Compare the 2 groups of countries – explain your findings.
Globalization Effects on Country Institutions, People and Business
Chapter 3
Key Points for the Chapter
Economic development comprises positive economic growth and entails changes in a country’s political, economic, and cultural institutions, as well as in individual values, attitudes, and behaviors.
Economic development requires resources from public and private sectors, both internal and external.
Technology transfers by international corporations comprise manufacturing technologies, management organizations, and marketing know-how.
Intro: The Economic Development Process
Economic development is the progress countries make in living standards as they experience positive economic growth and the changes occurring in societal and cultural institutions and values as nations move toward more advanced stages of industrialization.
Economic progress demonstrates human progress, and more pragmatically, it keeps politicians in power, companies busy, and consumers (and voters) optimistic about the future.
Technology Transfers
International trade, investments, and global media have opened world markets up to a variety of modernizing influences.
In general terms, technology transfers occur as corporations enter new markets with products, technologies, lifestyles, and business methods developed in their home and other international markets.
Technology transfers first affect urban segments of developing countries where there are developed infrastructures and pocket of economically significant customers.
As media become commercialization and distribution channels are built into rural areas, greater proportions of developing-country populations come into contact with modernization influences.
4
Positive Effects
Positive effects occur as societies are exposed to broad varieties of products that make lives easier.
Convenience products such as packaged foods, and consumer durables such as refrigerators, radios, televisions, and stoves have positive effects on consumer lifestyles.
New technologies in manufacturing and distribution make products cheaper and more widely available. They provide employment opportunities for lo.
What Is Global Economy and Its Importance.pdfAiblogtech
What Is Global Economy and Its Importance? A Quick Overview
The term "global economy" is frequently used in discussions, news reports, and political speeches. But what exactly is the global economy, and why is it so crucial to our lives? In this article, we will delve into the global economy's nuts and bolts in simple and understandable language, exploring its various facets and emphasizing its profound significance.
Understanding the Global Economy
Defining the Global Economy
The global economy, at its core, refers to the complex web of interconnected economic activities that take place around the world. It includes the global production, exchange, and consumption of goods and services. Everything from your smartphone to the coffee you drink in the morning has a global footprint. The global economy is analogous to a massive puzzle, with each piece representing a different country or region and all intricately interconnected.
The Building Blocks of the Global Economy
To understand the significance of the global economy, we must first break it down into its basic components:
1. International Trade: The exchange of goods and services between different countries is known as international trade. It provides nations with access to products that they cannot produce locally, promoting economic growth and diversity.
2. Global Finance: The flow of money, investments, and capital across borders is referred to as global finance. It helps businesses, governments, and individuals achieve their economic objectives.
3. Multinational Corporations: These are large corporations that have operations in several countries. They are important players in the global economy because they manufacture products in one country, sell them in another, and invest in various locations around the world.
4. Currency Exchange: Each country has its own currency. Exchange rates have an impact on international trade and financial transactions.
5. International Organizations: Organizations such as the World Trade Organization (WTO) and the International Monetary Fund (IMF) play an important role in regulating and facilitating global economic interactions.
6. Global Supply Chains: Products frequently go through a number of manufacturing and distribution stages in different countries. This linked network is known as a global supply chain.
Let's look at the global economy's significance now that we've dissected it.
The Significance of the Global Economy
Economic Growth and Prosperity
Economic growth is one of the most obvious benefits of a thriving global economy. Countries that engage in international trade have access to a larger consumer base. This leads to increased sales, higher profits, and a more prosperous economy in the long run. A strong global economy promotes job creation, higher living standards, and a higher quality of life for people all over the world.
Access to Diverse Goods and Services
Consider a world in which each country only produced what it required.
- Global growth has been revised down for 2016 and 2017 due to ongoing fragility in the global economy. Emerging markets will be the main drivers of growth and will fuel the expansion of the global middle class.
- Disruptive technologies could have a major economic impact of $14-33 trillion annually by 2025, according to one estimate. However, Canada faces challenges like declining business R&D spending and productivity growth.
- The document outlines six areas of focus to strengthen Canada's innovation performance: developing an entrepreneurial society, supporting world-class research, creating industry clusters, growing companies in clean technologies, competing in the digital world, and improving the business environment.
The New Global Normal: What it means for Canadian competitiveness4Front
The document discusses how the global economic context is changing with the rise of emerging economies like China and India. It outlines some key trends including:
1. The world is becoming more multi-polar as emerging economies grow rapidly and the share of global GDP in developed economies declines.
2. Global competitiveness is changing with a premium placed on innovation, skilled talent, and natural resources.
3. Demographic changes are creating a "great global talent hunt" as populations in developed nations age. Attracting and retaining skilled knowledge workers is important for competitiveness.
The document discusses various topics related to economics and business. It provides snippets on:
1) Samuelson's view that economics requires a balanced approach between markets and government oversight.
2) Factors that drive economic growth including human capital, resources, capital, technology and innovation. Government plays a role in supporting growth through policies and funding research.
3) Samuelson's "neoclassical synthesis" integrated Keynesian and classical economic thinking, recognizing both market failures and the need for government intervention in balancing investment and employment.
How important are small businesses to upstate nyLiberteks
The document discusses economic development efforts in Upstate New York that have failed to stop population decline and job losses since the 1970s. It argues that funding has focused too narrowly on universities rather than small businesses, which are major job creators. The summary recommends a two-pronged funding approach that supports both universities and small, community-based businesses through mentoring and access to resources. This would help entrepreneurs launch new manufacturing businesses to take advantage of opportunities from rising costs and unrest in China.
Globalization refers to the increasing integration of economies and societies around the world through increased trade and cultural exchange. The document discusses both the positive and negative impacts of globalization. It provides causes and effects of globalization on economies, governments, businesses, and individuals. While globalization has increased trade and job opportunities, it has also led to issues like unemployment in some countries, increased environmental damage, and unequal impacts across societies.
Globalization refers to the increasing integration and interdependence of national economies through cross-border movement of goods, services, technology and capital. It involves both economic and social effects as barriers to international trade and cultural exchanges are reduced. Key aspects of globalization include the expansion of international trade, growth of multinational corporations, increased capital flows between countries, and the spread of technology and culture to new parts of the world. While globalization opens new markets and opportunities for businesses, it can also face objections related to issues like outsourcing and loss of domestic jobs. Overall, globalization affects both businesses and societies in complex ways.
This document is the 2012 annual report of the Canadian Council of Chief Executives (CCCE). It discusses how increased global competition is driving innovation, productivity, and prosperity among Canadian companies. The report profiles innovation initiatives by CCCE member companies in partnership with universities. These initiatives aim to address Canada's weaknesses in innovation and productivity compared to other countries. The CCCE works to shape public policy and help Canadian companies and workers succeed globally through trade agreements and facing international competition.
- Between 65-70% of households in 25 advanced economies, or around 540-580 million people, had market incomes in 2014 that were flat or lower than in 2005. This is a significant increase compared to less than 2% of households between 1993-2005.
- Younger, less educated workers have been hit hardest, with most age and education segments experiencing flat or falling incomes from 2002-2012. Today's youth may end up poorer than their parents.
- Government policies and labor market practices influenced the impact, but factors like slowing GDP growth after the recession, declining wage share, aging populations, and smaller households also contributed to widespread flat or falling incomes.
The Latin Trade Group held its annual Latin Trade Symposium and BRAVO Business Awards conference, which brought together over 600 influential business and government leaders from Latin America and other regions. The one-day event focused on the need for greater investment in innovation in the Americas to drive long-term prosperity. Global thought leaders shared insights on topics like navigating economic uncertainty, strategies for sustained growth, and how innovation can lead to success. Several awards were also given to recognize leaders demonstrating excellence and achievement across Latin America.
What is DE- Globalization & its examplesDEEPAK KUMAR
In this Assignment I have gone through the detailed of how de - globalization is taking place in this 21 century where most of the student are talking about globalization. this is the another part of the picture, we have focused about de - globalization.
Globalization refers to the increasing interconnectedness of world markets due to rising international trade and cultural exchange. It involves the movement of investment funds, businesses, and cultural aspects beyond domestic and national markets. Some impacts of globalization include more efficient markets, increased competition, stabilized security, and greater wealth equality worldwide. While globalization offers benefits like greater market access, it also poses challenges such as rising income inequality and environmental damage. E-commerce, defined as business transactions conducted electronically, has grown due to globalization and allows for increased international trade opportunities.
Preparing For The 21st Century Installment IiAnthony Vincent
The document discusses the economic downturn as representing a new global business order rather than a typical cycle. It notes that this recession is the worst since World War II globally and in the US. While the US and European economies remain weak, China and South Korea have rebounded through rapid policy intervention. The rules of the global economy are changing, and businesses must adapt to remain competitive in this "New World Order." The document argues that many countries now desire American standards of living, putting pressure on the US economy.
The post-recession world is an exciting time to be an entrepreneur in UK. Deloitte identified the trends that shape this entrepreneurial world, including that entrepreneurs are ready to expand and invest, but lack the skills to exploit the emergence of overseas markets and the rise of digital technology.
The report was kindly provided to us by Deloitte. Read more: http://www.deloitte.com/view/en_GB/uk/market-insights/private-markets/who-we-help/private-companies-and-entrepreneurs/entrepreneurship-uk/index.htm
Globalization refers to the growing interdependence and integration of economies, societies, and cultures around the world through cross-border trade and investments as well as information flows. The document discusses several dimensions and aspects of globalization including its effects on culture, society, politics, economy and technology. It also examines the positive and negative impacts of globalization on issues like employment, prices, environment and terrorism. Several statistics based on surveys about people's perceptions of globalization are presented. The roles of multinational corporations and economic globalization are analyzed. The impact of globalization on India including its effects on the Indian economy is discussed. The interrelation between globalization and the internet/world wide web and their effects on business and mass media
Globalization has impacted standards of living in various ways. While there remain large inequalities between wealthy and poor countries, living standards have generally improved due to factors like global trade and financial integration. However, globalization has also reinforced inequalities through an international trade system and global financial architecture that favor developed nations. Domestic factors like natural resources, education levels, and institutions also contribute to differences in living standards between countries.
Similar to Kevin Lynch on Innovation at IPAC Annual Conference August 20 2012 (20)
[To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This PowerPoint compilation offers a comprehensive overview of 20 leading innovation management frameworks and methodologies, selected for their broad applicability across various industries and organizational contexts. These frameworks are valuable resources for a wide range of users, including business professionals, educators, and consultants.
Each framework is presented with visually engaging diagrams and templates, ensuring the content is both informative and appealing. While this compilation is thorough, please note that the slides are intended as supplementary resources and may not be sufficient for standalone instructional purposes.
This compilation is ideal for anyone looking to enhance their understanding of innovation management and drive meaningful change within their organization. Whether you aim to improve product development processes, enhance customer experiences, or drive digital transformation, these frameworks offer valuable insights and tools to help you achieve your goals.
INCLUDED FRAMEWORKS/MODELS:
1. Stanford’s Design Thinking
2. IDEO’s Human-Centered Design
3. Strategyzer’s Business Model Innovation
4. Lean Startup Methodology
5. Agile Innovation Framework
6. Doblin’s Ten Types of Innovation
7. McKinsey’s Three Horizons of Growth
8. Customer Journey Map
9. Christensen’s Disruptive Innovation Theory
10. Blue Ocean Strategy
11. Strategyn’s Jobs-To-Be-Done (JTBD) Framework with Job Map
12. Design Sprint Framework
13. The Double Diamond
14. Lean Six Sigma DMAIC
15. TRIZ Problem-Solving Framework
16. Edward de Bono’s Six Thinking Hats
17. Stage-Gate Model
18. Toyota’s Six Steps of Kaizen
19. Microsoft’s Digital Transformation Framework
20. Design for Six Sigma (DFSS)
To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations
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Kevin Lynch on Innovation at IPAC Annual Conference August 20 2012
1. “THE NEW GLOBAL REALITY: YOU WANT TO BE
COMPETITIVE, YOU BETTER BE INNOVATIVE!”
by
The Honourable Kevin G. Lynch
Vice-Chair, BMO Financial Group
to
Institute of Public Administration of Canada
L'Institut d'administration publique du Canada
64th Annual Conference
St. John’s Newfoundland
August 20, 2012
1
2. THE NEW GLOBAL REALITY: YOU WANT TO BE COMPETITIVE, YOU
BETTER BE INNOVATIVE!
Introduction
Why does innovation matter so much for our competitiveness today? What is the role
of government in building an innovative economy? Where is there scope for innovation
in public administration during an era of fiscal restraint? All good, pertinent and
challenging questions, and ones with which public servants should be earnestly grappling
because getting the answers right will be crucial for Canada’s future.
Long banished to the periphery of public policy and corporate strategy, innovation is
now front and centre, as a core element of the solution to countries struggling with
austerity and low growth, and companies confronting stagnating sales, new overseas
competitors and declining competitiveness.
The public policy starting point for innovation is the context, and the context we now
face is pervasively global and profoundly changing. Structural trends and seismic events
are reshaping economies, societies, politics, power and expectations around the world.
And, this changing context is shifting the “drivers of success” for the Canadian economy.
Six such pivotal trends include:
o Pervasive globalization: the global center of economic gravity is shifting towards
Asia with the rise of dynamic emerging economies in Asia and elsewhere. The
“new global reality” is increasingly a two-speed world, where the West is in the
slower lane.
o Demographics: for the first time in a very long time, we’re collectively aging in
Western countries, and this will have underestimated consequences for potential
economic growth through slowing expansions in the labour force, and for longer
term fiscal frameworks through increasing pension and health care costs. One
consequence is that the hunt for talent is going global, and the winners, both
countries and firms, will be in the driver’s seat in the new global competitiveness.
o Information revolution: from the Internet to Facebook to Tahrir Square, we have
moved from a connected West to a hyper-connected world. This hyper-connected
world is changing the reality of what a market is, how markets are accessed, and
where work can be done in real-time distributed systems. It is redefining the
nature of communications, both the medium and the style of messaging and, as
the Arab Spring has demonstrated, anyone with a smart phone is now a journalist.
o The ultimate hang-over: the global financial crisis of 2008 is like the hangover
that will never end, no matter how many aspirins governments and financial
systems in many countries take. It has spawned a low growth, low interest rate,
2
3. high volatility environment in the developed world, with continued deleveraging
and uncertainty a fact of life in Europe and a lingering reality in the United States.
o The decline of trust: the cumulative effect over the last decade and across
countries of corporate failings, environmental disasters, financial crises,
government mishaps and misleading public information has led to substantial and
sustained loss of trust by the public in leadership broadly defined.
o New global competitiveness: today, it is increasingly productivity and innovation
that drive competitiveness. In advanced economies, it is less low costs and
massive scale and more flexibility and creativity; it is less geography and more
capacity.
So, in this future, what will competitive economies look like? Tom Friedman
believes we have progressed to a hyper connected world where, for innovation-driven,
global corporations, the mantra is now: “imagined here, designed there, manufactured
elsewhere, sold everywhere.” Michael Porter believes we can only have competitiveness
with rising living standards in Western countries if we reinvent ourselves as high
productivity growth economies, led by innovation. Even President Obama believes that
“Innovation is the first step in restoring American competitiveness”.
And why do they all believe that innovation is so pivotal? Simply put, innovation is
the ability to create new products or services, produce existing products or deliver
existing services in new ways, and develop new markets. Innovation is clearly not the
same as research and invention; rather, it is the process of turning new ideas into
commercially successful goods and services that bring perceived value to consumers. Or,
more colloquially, research is a process that transforms money into knowledge, and
innovation is the process that transforms knowledge into money.
Innovation is crucial to the economy because it drives productivity, and a more
productive economy grows faster, adapts better, and supports higher wages, more jobs
and improved living standards. It helps answer the question of how a high-wage economy
like Canada's can compete with those of emerging countries. It is as much a social
imperative as an economic one: increasing productivity growth through innovation raises
the living standards of a society just as it increases the competitiveness of an economy.
Where does all this leave Canada? Frankly, we are wedged between the new global
reality and an economy that has not stressed productivity, innovation and diversification.
Consider a few, rather dismal, facts:
o Canada’s business productivity levels are now only 72% of U.S. business on
average, and we no longer have a low dollar to subsidize poor productivity.
o Canada’s business spending on R&D is 1.0% of GDP, well below the OECD
average of 1.6%, half that of U.S. business and almost a third Swedish business.
Canadian business has the dubious distinction of ranking 20th in the OECD in
research, at a time when innovation is the life blood of the new competitiveness.
3
4. o Canadian business spends only 48% as much as U.S. business on ICT
(information and communications technologies) and only 75% as much on
leading edge machinery and equipment --- both instrumental to productivity
growth.
o Canada’s trade is highly concentrated with the United States (over 75% of
Canada’s exports), and no dynamic emerging economy accounts for more than
1% of Canada’s exports (save China which is only 3%).
Herein lies Canada’s challenge --- we are a sophisticated economy, with a well-
educated and multicultural workforce, and a very high standard of living. We are one of
the great economic success stories. But the global marketplace we operate in is dynamic
not static. Competitiveness is increasingly bifurcating into either enormous scale with
low costs or high creativity and flexibility with premium prices. In this changing world
we are a high wage economy and a chronic underperformer in innovation and
productivity. Canada simply cannot sustain above-average living standards and below-
average innovation investment and productivity growth, especially with a Canadian
dollar around parity, weak U.S. growth and growing demographic pressures.
In this new global reality, Canada is over-invested in trade with slower growing
Western economies and under-invested in continual innovation in the goods and services
we produce and how we produce them. What this means is we need to diversify: to shift
more of our future trade towards a strategic set of dynamic emerging economies; to focus
on the new middle class in these emerging economies, not solely on selling them natural
resources; and to change the nature of what we sell and how we sell it, in both our core
U.S. market and in the new emerging markets, towards more innovative goods and
services that rely on meeting changing consumers’ needs at premium prices.
Innovation Nation: The Challenge Ahead
While Canada has produced world class innovative firms and exceptional innovators,
no one would rank Canada as an “innovation nation” or a nation of innovators. The
reality is that Canada’s productivity and innovation challenge runs deep and broad. The
keys to its solution lie in many hands --- the private sector, universities, financial
markets, individual entrepreneurs and of course the public sector. And, the urgency of
greater, faster, and more sustained action rises as the pace at which the global economy is
changing, increases.
Getting the “macro conditions right” is absolutely necessary, and Canada has done
well on this front. We have low levels of net public debt, low corporate tax rates, high
public investment rates in university research, sound financial system, strong civic
institutions and a commitment to fiscal balance, which most governments in Canada are
implementing at present albeit at different paces and intensities.
But these are clearly not sufficient for success in creating an innovative and
productive private sector --- the facts above speak for themselves. So what is missing?
4
5. Governments need find the right balance between pressure for change and support to
change, both key elements in encouraging firms to innovate. We should not forget the
oft-cited observation that “most people don’t change because they see the light, they
change because they feel the heat”. Competition and exposure to diverse foreign markets
create pressure on firms to innovate and improve their productivity, just as well designed
programs and tax incentives can support corporate innovation.
While there are a number of Canadian businesses that have demonstrated exceptional
innovativeness through entrepreneurial risk taking, they are more the exception than the
rule. There is not enough competitive pressure in the Canadian economy to drive most
firms to continually seek productivity growth and new innovations. As a result, our
average competitive performance is well below our best performance.
To be successful at innovation, firms need to organize for it, manage for it, and create
incentives for it. Today, the majority of innovations start with consumers and front line
staff, not research labs. But to turn the knowledge of consumer wants or needs into
innovative, commercially viable goods and services requires corporate leadership, an
openness to new ideas from customers and staff, non-hierarchical channels for expressing
them inside firms, and organizational structures within firms to turn ideas into iPods.
Diversity plays an important role in creating inventions and innovations --- the
creative process is anything but linear, and new perspectives, learnings, experiences,
backgrounds can provide that creative spark. Immigration provides such talent diversity,
and the innovation impacts can be dramatic: between 1995 and 2005, 25 % of all new
U.S. high technology firms had at least one foreign-born founder.
Corporate innovation is not the sole preserve of high technology firms; indeed,
innovation can have equal impacts on productivity and competitiveness in the retail
sector, the manufacturing and the natural resource sectors. Whatever the sector, what is
changing most about corporate innovation strategies is the shift to “open innovation”
rather than solely “in-house innovation”. Proctor and Gamble now sources 50% of new
products outside the firm. However, no matter how open, networked or collaborative
their innovation model, firms still need internal “receptor capacity”--- both organizational
and technological --- to be successful at continual innovation.
And governments --- federal, provincial territorial and municipal --- have to be part of
the productivity and innovation solution, not just in the policies they establish but also in
the way they work. Government accounts for a sizeable proportion of GDP in Canada,
and innovation-led improvements in the productivity of the delivery of government
services would improve our national competitiveness. Governments need a productivity
focus and lens, just like the private sector; after all, they are huge suppliers of health and
education services, security, taxes and pensions, information, regulatory compliance and
a myriad of other services --- all of which are amenable to innovation and productivity.
5
6. While we have many programs to encourage innovation, we lack alignment of
interests, strategies and support mechanisms across governments, the private sector and
the higher education sector. What we need is a clearer “frame”, or ecosystem, around
which the various participants in the innovation system can coalesce. While such an
ecosystem in reality will be complex, dynamic and somewhat sector specific, it will have
core common elements such as a clear sense of collective and individual purpose, active
collaboration among private sector firms, governments, universities and financial
markets. And the establishment of such alignment and the frame for it requires the use of
the “convening power” of governments to engage leaders across the economy.
One possible “frame” for the Canadian ecosystem could include four basic elements:
the “macro innovation environment”, where governments, both federal and
provincial, play a lead role in establishing the public finance, tax, regulatory,
competition, trade and broad-based support environment --- the “ objectives and
rules of the game” if you will;
the “micro innovation environment”, where universities and community
colleges play a lead role in developing the talent and the research excellence
Canada needs, and in collaboration with the private sector (not in isolation from),
and where governments deploy more customized supports when there are market
gaps and a lack of scale;
the “community innovation infrastructure”, where the modern version of
industrial policy, that of picking sectors and broad technologies with the potential
to win, takes shape, and it brings together at the local level governments,
universities, financial sector, mentors, angel investors and peers, all of whom have
a key role; and
the “organizational innovation infrastructure”, where firms play the lead role
in putting the structures, incentives and capacity in place within corporations (and
outside with research centres) to drive continual innovation.
Innovation in Government
Besides the framing role for government, the government sector, as you well know,
is a multi-faceted player in innovation through: the public policy it sets; the way it
delivers public services; and, the standards it sets for what it buys. The good news is that
Canada has some excellent public analysis of what government can do in this regard
through the work of the Wilson Panel (The Competition Policy Review Panel, June,
2008) and the Jenkins Panel (Panel on Federal Support to Research and Development,
October, 2011) as well as the recent OECD Survey of Canada (OECD Economic
Surveys: Canada, 2012). Further, there is much that we can learn from experiments and
experience in other countries.
6
7. Drawing on both this research on innovation at home and promising successes
abroad, I would offer several areas where the public service itself could examine the
potential for innovation and change within government. And I do not think that
innovation and austerity are incompatible --- indeed, in flush times, it is more difficult to
tackle the status quo not less, and lean times offer more understanding of the need for
change as well as the impetus of necessity.
The five areas that I would encourage you to examine are procurement; regulatory
processes; health care delivery; shifting to less indirect and more direct innovation
support; and helping SMEs go global. Let’s touch briefly on each in turn.
First, consider the enormous potential procurement has to stimulate and support
innovation, without impeding competition concerns or value-for-money concerns of
auditors general. With respect to government procurement, a giant change would be to
modify the standard procurement mandate towards something akin to “innovative goods
and services at the best price” and away from the current mandate of “goods and services
at the lowest price”. This would have a major impact on both start-up firms and
established firms that are branching out into more innovative and less standardized
products and services.
Second, more efficient processes working backwards from the business or citizen
perspective, using technology to improve the process without any reduction of standards;
a slow process is neither a necessary or sufficient condition for a rigorous standard.
Third, we have a great health care system in Canada but the Canada Health Act
(CHA) enshrines principles not the status quo, and there is much scope for innovation
and productivity in the way we deliver health care consistent with the CHA. As a very
micro example, look at what the application of “lean processes” at St. Joseph’s Hospital
in Toronto has done for processing times and patient satisfaction.
Fourth, Canada is an outlier among OECD countries in its reliance on tax
expenditures to encourage and support private sector innovation, and without much
evident success. It is timely to consider reducing this excessive reliance on passive tax
expenditures, and re-directing support towards targeted, active and customized types of
support. This could include experimenting with interesting Israeli and U.S. models of
“de-risking” support to venture capital.
And fifth, getting many more Canadian SMEs trading throughout Canada (and
putting pressure on governments to eliminate internal trade barriers as part of the
experience), across the NAFTA region and around the world. The experience from other
countries is that the more Canadian SMEs engage in trade in new and diverse markets,
the more experienced, innovative and productive they will become. But, we still have
only a minority of our firms trading outside Canada, and fewer still outside NAFTA, and
this could be a useful area for innovation in programs and policies.
7
8. Conclusion
To conclude, despite our challenges, there is absolutely no reason for Canada to be an
innovation and productivity laggard. Governments can and should play a leadership role,
and it is not all about spending --- part of its role is framing the questions and convening
the players. Business, university and labour all need to be part of the innovation
leadership imperative. We also need our public service leadership fully engaged – you
are a tremendous national resource of knowledge, analysis and policy capacity, and being
nonpartisan and without sectoral self-interest, you have a unique contribution to make to
the public good of improving Canada’s innovation and productivity.
We all need to make the question “What will it take for Canada to build an innovative
and productive economy?” part of our ongoing public discourse, as well as the continued
focus of future budgets and corporate Canada’s strategic business plans.
8