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Innovation - a strategic priority for Canadian businesses

A business colleague of ours, Jean-Philippe Valois from MITAC, made us aware of the GE Global Innovation Barometer 2013 that has been launched a couple of days ago at the World Economic Forum in Davos, Switzerland.. With the report comes a pretty cool tool allowing to compare with the an interactive map the findings of specific geographic areas (ex. developed countries, emerging markets, etc.),  specific topics such as politics & people, as well as compare two individual  countries, let's say Canada and the USA. Specific country portraits are also available for Australia, Brazil, Canada, China and Germany.

According to the most recent survey taken in autumn 2012, 87% of Canadian business report that innovation is a strategic priority for them.

The following types of innovation are expected to drive the future Canadian business performance:
  • The improvement of existing products and services (mentioned by 82% of respondents)
  • The development of new business processes to improve profitability (76% - 13 points higher than the global average)
  • The development of entirely new products and services (64%).
Other innovation possibilities are also mentioned in the report such as the development of more sustainable and eco-friendly products and services as well as the development of innovation through developing new business models.