The future belongs to the bold
Canada needs more courage
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 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.
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.
Do what's right
Courageous businesses take actions that generate positive, long-term impacts for their firms, their people and, ultimately, their country. They'll often defer short-term gains in order to ensure long-term success, and place greater value on non-monetary organizational goals.
Take calculated risks
Courageous businesses use thorough, rational analysis grounded in data to develop new ideas, investments and innovations both adjacent and transformational to current business. They use analysis to see opportunities where others see challenges or unchangeable customs.
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.
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.
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.
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At Deloitte, we believe Canada can continue to be the undisputed best place in the world to live and work over the next 25 years. Canada at 175 is our multi-year research initiative to study the issues at the heart of Canada’s future success and provide a perspective on our path to prosperity.