Canada at 175 requires bold bets: Deloitte
Posted Jun 16, 2017 11:03 am.
This article is more than 5 years old.
“We believe that it’s really important that [Canada] take these bold bets in order to position ourselves well, going forward,” one consultant urges.
That’s the message from certified public accounting company, Deloitte, on the heels of a new report Bold Bets for our country: It’s time for deliberate action.
Blaine Woodcock, a consulting partner with Deloitte, says while Canada celebrates its 150th birthday this year it’s time to start preparing for the next 25 years.
“We stand in a unique window in time at which we can exploit our Canadian sense of openness and diversity,” he continues, “we believe that we need to capitalize on this unique window, reach out to the world and increase our engagement with the rest of the world.”
The study finds Canada’s standard of living will decline, if government, business leaders and policymakers don’t make uncomfortable decisions now. Citing three pillars of change, Woodcock says discussions may not be easy but they are necessary.
First, Canada needs a better (or different) focus on competitive investments and not spreading resources thin.
Secondly, accelerating engagement on a world wide scale will better position companies to compete in the ever-growing technological era.
And third, Woodcock says, it’s time to start “disrupting our education system.” Academia will “allow Canadians and Canadian learners to adapt in the face of massive technological change.”
Deloitte suggests companies unwilling to make advancing choices are twice as likely to see revenues fall, when compared to their courageous counterparts.
