The future belongs to the bold
Canada needs more courage
Canada is at a tipping point
Canada is at a tipping point
With the 150th anniversary of confederation on the horizon, we must be bold to overcome a turbulent economic landscape and ensure our country's future prosperity.
At the root of Canada's stagnant economy, and key to invigorating it, is courage.
Courage is doing the right thing—the hard thing—for the greater good, despite being filled with fear, doubt or uncertainty. Courage is taking a stand when it's difficult, not when it's easy.
The alarming state of courage in Canada
We surveyed 1,200 business leaders across Canada to better understand the state of courage in Canadian organizations.
Our analysis uncovered a stark reality: at a time when Canada needs its businesses to be bolder than ever, only 1 in 10 Canadian companies is truly courageous. Yet, an astonishing 44% believe they are.
Canadian businesses' perception vs. reality
Businesses that believe "Courageous" accurately describes their organization
Businesses that are truly courageous
There is good news.
30% of Canadian businesses are evolving. These are the companies on the cusp of courage—the courageous businesses of tomorrow. If their leaders take action today, our country will experience the growth it needs to reach new heights.
Canadian businesses by category of courage
Fearful - 15%
Fearful businesses score poorly, on average, across all elements of courage
Hesitant - 43%
Businesses that are hesitant score moderately across the elements
Evolving - 30%
Evolving businesses score moderately across the elements, but outperform hesitant businesses on the core elements
Courageous - 11%
Courageous businesses score highly across all elements of courage
Download The future belongs to the bold: Canada needs more courage.
To learn more about Canada's courage gap—and how to close it—get the full report.
Start with yourself
Courageous business leaders are guided by their passion and are more likely to be perceived as authentic. They refuse to put off important but challenging decisions, knowing the power of individual action and the example it can set. These leaders are more likely to take personal accountability for organizational failures—and share the credit for the company's successes.
Unite to include
Courageous business leaders surround themselves with diverse thinkers from different backgrounds and allow all of their people to bring their authentic, whole selves to work. These leaders understand the value of establishing formal processes to solicit and incorporate input and feedback from people at all levels of their organizations.
Be provocative and challenge the status quo
Courageous companies and business leaders articulate points of view that may run counter to convention. They are more likely to embrace disruption—and even actively pursue it. Courageous businesses are more likely to defy industry norms or existing practices even in the face of outside criticism.
Canada at 175
Canada at 175 refers to Deloitte's vision for the future of our nation's prosperity by July 1, 2042. With the 150th anniversary of confederation on the horizon, now is the time for Canada to redefine what it means to be a global leader.
Our ambition as a nation must be bolder—we must aim to not only achieve economic prosperity, but to elevate our quailty of life for our vast and diverse population.
Deloitte's vision is that Canada should rank among the top three countries on the Human Development index within the next 25 years. To do so, we must adopt an unrelenting commitment to developing courageous leaders who embody an inclusive way of being.
The five elements of courage
In our research, we zeroed in on five elements—five behaviours and attitudes—that are critical to courageous decision-making and action.
Use the circles to see more
Why courage? Why now?
Canada faces a number of economic challenges, but we know our country's potential is limitless. We need our businesses to be bold and daring in their pursuit of success in order to convert that potential into future prosperity and overcome the current state of Canada's economy.
Projected GDP Growth, 2016
Canadian economic growth has stagnated. Canada's GDP growth has hovered near 2% for the past three years, and it's expected to reach only 1.3% in 2016—compared to 3.1% growth globally.
Deloitte Risk Behaviour Index
Canada has a deep-rooted, cultural aversion to risk. In our 2011 report, The future of productivity: An eight-step game plan for Canada, our research showed that Canadian firms were significantly more risk-averse than their US counterparts.
Download The future belongs to the bold: Canada needs more courage.
To learn more about Canada's courage gap—and how to close it—get the full report.
Courage is the key to growth
Why should Canadian business leaders care about courage? While our research uncovered some startling truths about Canada's business courage, it also provided insights into the tremendous impact courage can have on an organization's success.
Courageousness and revenue growth
Over the past year, has your organization's revenue increased, decreased, or stayed the same?
Decreased
Increased
Fearful
Hesitant
Evolving
Courageous
Courageousness and employment growth
Over the past year, has the number of employees working for your organization in Canada increased, decreased, or stayed the same?
Decreased a great deal
Increased a great deal
Fearful
Hesitant
Evolving
Courageous
Courageousness and R&D investment intentions
Does your firm plan to increase or decrease spending on research and development over the next five years?
Decrease
Stay about the same
Increase
Fearful
Hesitant
Evolving
Courageous
Courageousness and new product development
What percentage of your current product / service offering was introduced in the last five years?
0-10%
10%-20%
>20%
Fearful
Hesitant
Evolving
Courageous
We need more courage in Canadian business
The simple fact is this: Canada's businesses and other organizations must find and unleash their courage. It can be done. It just takes the will to act and the grit to see it through.
Don't miss out on this opportunity
Ready to instil a greater sense of courage at your organization? Download The future belongs to the bold: Canada needs more courage.
Learn more about Canada at 175
Read Bold bets for our country: It's time for deliberate action, a report from the Canada at 175 series, to discover why our country needs to take on bold bets. Sign up below and be the first to know about the future updates.