Business Innovation and Strategy: A Canadian Perspective
Industry Canada has released Business Innovation and Strategy: A Canadian Perspective, a report based on the Survey of Innovation and Business Strategy (SIBS). The report was first presented at the Insights from the Survey of Innovation and Business Strategy workshop held earlier this fall at the University of Toronto.
In 2007–2008, Industry Canada, Foreign Affairs and International Trade Canada and Statistics Canada began SIBS to better understand the evolving market and policy factors that encourage or discourage the adoption of growth and innovation-oriented business strategies. SIBS is the first Canadian survey to cover a broad array of interrelated factors that influence an enterprise's decision to innovate, such as its marketplace and competitive environment, strategic orientation, use of technology, ownership structure, and management practices, including global value chain management.
Highlights of the survey findings include:
- Approximately two out of three enterprises in Canada, and four out of five manufacturing enterprises, report having introduced at least one innovation between 2007 and 2009;
- The main strategic focus of enterprises in Canada is on maintaining or expanding existing products or current activities, rather than on developing new ones;
- Almost 25 percent of enterprises report having business activities outside of Canada between 2007 and 2009;
- During that same time, 5 percent of enterprises relocated and 10 percent outsourced business activities outside of Canada. The most frequently displaced business activity was production of goods, mostly to or from China and the United States;
- A majority of enterprises indicate that their principal market is local;
- Competition intensity is strong in Canada, with most enterprises reporting facing numerous competitors, including multinational enterprises; and
- Most enterprises report product positioning, rather than cost leadership, as their long-term business strategy.
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