Thriving in the New Business as Usual

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Watch David talk about what private companies should be doing to position themselves for success.

Successful Canadian private companies are turning their focus to aligning their business activities and taking approaches that will position them for long-term success.

The economic events of the recent past have changed the world of business dramatically. Successful Canadian private companies are getting back to business basics and are now focusing on the future.

Click on the arrows below to find out more about each of the 10 priorities.

10 Fundamental Priorities for Navigating an Upturn

1. Shifting the leadership focus

2010 was principally focused on cash, costs and the overall crisis. With company procedures and policies in place, smart companies in 2011 will be re-weighing their innovation efforts from cost to growth.

2. Challenging your high-performing talent

Smart companies have invested in high-performance talent management approaches. Clever companies are working with their high performers to address growth issues.

3. Categorizing client revenue opportunities

Smart companies are sitting down with their suppliers to discuss the supply chain process with a medium- to long-term view to create a closer partnership.

4. Reshaping supplier relationships

Smart companies have carefully prioritized client categories, are working with key growth clients in reshaping new service approaches and new products, and are identifying cross-selling opportunities.

5. Challenging the business model

Recessions re-order the market ranking of all players. Smart companies are re-inventing themselves to create value propositions for clients, their people and their shareholders.

6. Investing in the product/service portfolio

Smart companies are investing in re-designing existing products and experimenting with new products. They are also shortening their speed-to-market times.

7. Targeting growth industries and markets

Smart companies are redefining their traditional markets by focusing on growth industries (e.g. health care), emerging or hybrid industries (e.g. aging population, sustainability), "recession proof" industries and global growth markets.

8. Refreshing your acquisition list

With reduced asset values, acquisitions are more affordable. Cultural misfits are the principal causes of merger failure. Smart companies are researching the people values of the priority targets as key merger criteria.