Are Canadian firms prepared?
A massive impact is unavoidable
The way Canadians live and work is about to change profoundly. Rapid advances in technology are poised to disrupt many of the sectors that anchor Canadaâs economy, and our businesses arenât prepared for it.Download The Full Report
Advanced technologies are driving disruptive innovation that will bring significant, permanent change to Canadaâs business landscape. We have tracked five specific technologies that have tremendous potential to wreak havoc on businesses across the country.Download The Full Report
is thinking deeper
Chess matches and game shows were just the beginning.Learn more
your own risk
Now everyone has access to crowdsourcing, crowdfunding and cloud computing.Learn more
The Damage Could Be Catastrophic
For the past year we have studied the Canadian economy in depth and surveyed over 700 business leaders across the country. We then evaluated companies by their overall technological awareness, innovative culture, organizational agility to change and effective resources to facilitate change.
We worried that Canadian businesses werenât prepared for the disruption challenges to come. Unfortunately, we were right.
- 13% Highly Prepared Only 13% of firms are highly prepared, excelling in all four key areas of preparedness
- Are Preparing
- 23% Single-minded 23% of firms are single-minded, taking action in one area but not prepared overall
- Taking Action
- 29% Tentative 29% of firms are tentativeâorganizations that arenât wholly unprepared but are struggling in their efforts
- Will Be Disrupted
- 35% Unprepared 35% of firms are wholly unprepared and struggling across all four areas of preparedness
All Is Not Lost
Based on our research, we believe Canadian companies can take concrete steps to dramatically improve their capacity to anticipate, respond to and capitalize on the disruptive forces heading our way. Letâs look at what Canadaâs best-prepared and most productive organizations are doing.
- Cultivate awareness Foster awareness of the forces that have the potential to disrupt a business or industry so that you can take action today to prepare for disruptionâs impact tomorrow.
- Build the right culture for preparedness Develop a resilient, innovative culture so that you can withstand disruption in the future and benefit from important benefits today.
- Foster organizational agility Embrace new ways of working and making decisions to avoid becoming mired in the bureaucracy that can bring change to a screeching halt.
resources Acquire and deploy the best people, technology and financial resources so you can be more resilient and competitive in the face of disruption.
No matter how flexible your organization is, the storm is on the horizon and you need to act now. Read the full report to learn more before itâs too late.
Everyone Must Pitch In
While businesses must lead the drive to preparedness, governments and academic institutions must play their part as well.
- Invest strategically in building true business ecosystems.
- Rethink the structure of post-secondary institutions.
- Alter protectionist regulations in Canadaâs visa regime.
- Evolve education at all levels.
There Is Still Time
Thereâs a storm of disruption heading Canadaâs way. Itâs going to bring major challenges and incredible opportunities. By taking decisive and immediate action, Canadian businesses can withstand – and even thrive within – the age of disruption.Download The Full Report