Finding a path for prosperity, competitiveness

When you are on a journey, choosing the right path to follow can be the single most important and difficult decision that you make. Should I take this road or that road? This direction or that direction? The more frequently travelled path or the less travelled one?

Now, try to imagine selecting the right path that will lead a nation such as Canada to future prosperity and global competitiveness.

To say that the task is daunting would be an understatement. However, that’s the challenge that a high profile group of business leaders, university executives, and government officials addressed in a recent report entitled, “Picking a Path to Prosperity: A Strategy for Global-Best Commerce.”

The report was developed by the Leaders’ Roundtable on Commercialization (LRTC) which is a blue ribbon panel comprising 50 senior business executives, university presidents and deputy ministers.

The Conference Board of Canada convened the LRTC in late 2004 with the mandate to establish a shared commercialization vision for Canada and an action plan that recognizes the unique challenges facing various sectors and regions.

The LRTC’s vision as outlined in the report is broad and far-reaching.

“By 2016, one half of all sales by Canadian businesses will come from new or significantly improved goods or services. As a result, our economy and society will be more prosperous, sustainable, productive and globally competitive.

“These changes will be driven by a powerful knowledge base, a new culture of commerce, and global-best goods or services in niche markets.

“We will have invested heavily in a highly skilled workforce, new machinery and equipment, risk capital programs, and collaborative innovation networks,” the report says.

However, according to the report, while Canada is attempting to transition to this “new culture of commerce”, the country will have to deal with lagging competitiveness which, in turn, negatively impacts productivity.

“Canada’s relative competitiveness is slipping. Our productivity levels do not make us a strong player globally. We struggle in basic commerce: the taking of new products and services to market.

“Furthermore, there is a leadership vacuum around this issue. Leadership must come from a combination of the business, government, and academic communities,” the study states.

In order to realize its vision, the LRTC has developed six broad initiatives that the strategy will focus on.

The six initiatives include establishing priority areas in which Canada will be global best; increasing corporate investment in strategic training and recruitement; increasing corporate collaboration and investment in research, development, and innovation; increasing international and domestic risk capital investment in Canada while focusing on larger deals; expanding innovation in industrial supply chains; and instituting an independent national advisory group on innovation-based commerce.

This is an important early step in encouraging an enhanced culture of commerce for Canada in the future.

Jerry Cook
Editor, MPP
jcook@clbmedia.ca 

MC Machinery holds open house

MC Machinery Systems Canada Inc. recently held an open house to commemorate the recent opening of its new Canadian sales and distribution facility in Richmond Hill, ON.

“Canada is a very important market for Mitsubishi. Previously, we had always treated Canada as another U.S. state,” says Patrick Simon, marketing manager with MC Machinery Systems Inc., Wood Dale, IL. “We needed to have an established entity up here to show this market that we are commited to it.”

The facility is 14,000 sq. ft. and has eight employees. The facility will handle sales and service for all of Eastern Canada. The two-day open house attracted 200 to 300 attendees and featured various machines on display.

Above picture:
MC Machinery’s open house at its new Richmond Hill, ON facility attracted between 200 to 300 attendees.

Automotive Parts Manufacturers Association of Canada - This site is an information resource for Canadian OEM producers of parts, equipment, tools, supplies and services to the automotive industry. www.apma.ca

Canadian Machine Tool Distributors Association - A resource for Canadian machine tool distributors. www.cmtda.com

Canadian Welding Association - Information resource for the Canadian welding industry. www.cwa-acs.org

Miller Electric Manufacturing Company - The new web site offers information and resources on welding for end users and business owners. www.MillerWelds.com/Results

Wilson Tool International - New e-Business Center offers online tool orders, quotes, invoices, special tool drawings, and shipment tracking for fabricators. www.wilsontool.com