Looking Forward to the Next 150 Years

Happy 150th birthday, Canada. You look great for your age.

In the last 150 years, Canada has given the world some real game-changers, including the Robertson screw and, more importantly, the Tim Hortons’ double-double. But as we celebrate our sesquicentennial, let’s not look backward but forward to our next 150 years and the wonder it will bring.

Now is the time to chase excellence.

Astronauts, for example, don’t seek the silent void of outer space because they are running from the taxman. They do it because they are driven, passionate dreamers.

It’s that type of commitment that we need at the highest level of the manufacturing sector in this country.

A recent KPMG survey has revealed that Canadian CEOs are optimistic about the country’s domestic economic future, yet still a little wary of the global outlook. This may reveal an opportunity for Canadian companies to expand, innovate, and succeed here at home.

The “2017 Canadian CEO Outlook” also states that 75 per cent of CEOs view disruption as an opportunity for their business, not a threat. Do the disrupting or be disrupted, they say.

“This year’s Outlook emphasizes that disruption has become a fact of life for Canadian CEOs and their businesses as they respond to heightened uncertainty,” said Elio Luongo, CEO and senior partner at KPMG in Canada. “Importantly, Canadian CEOs see disruption as an opportunity to transform their business model, develop new products and services, and reshape their business so it is even more successful than it was in the past.”

So how do businesses ensure that they are the ones pushing the envelope and not being enveloped?

The survey pointed to these six important tips to succeed in uncertain business times:

1. Digitize business functions
2. Limit brand risk
3. Increase speed to market
4. Strengthen client focus
5. Develop talent
6. Become more data-driven

Interestingly, innovation, which is a much-travelled path to growth and success, no longer made the list of top priorities, as reported by KPMG’s survey. In uncertain times these CEOs are mitigating risk and strengthening their cores.

In spite of innovation’s absence on the list, my guess is that it will remain a priority for top manufacturers. They will continue to innovate while developing talent, speeding time to market, and utilizing the data produced on the shop floor … at least for a few of the next 150 years.