2009 Vancouver island State of the Island Summit Survey
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Transcript of 2009 Vancouver island State of the Island Summit Survey
www.viea.ca | www.oceanmarinespace.com | www.patrickmarshall.tel slide 1
State of the Island Outlook
2009 Summit Leadership Survey Final*
Presented by the Vancouver Island Economic Alliance with support from OCEAN Industries BC
www.viea.ca | www.oceanmarinespace.com | www.patrickmarshall.tel slide 2
This work was donated by the people that volunteer at OCEAN Industries BC
They work everyday on behalf of people that support a clean, safe and secure Ocean and Marinespace Economy in British Columbia and Canada at
www.oceanmarinespace.com
www.viea.ca | www.oceanmarinespace.com | www.patrickmarshall.tel slide 3
Top Ten Business Risks Q4 2009
Red = Hot | Quick
Amber = Caution | Slow
Green = Cooling | Slower
Q1
From Q4
To Ernst & Young Business Risks: 2009 Vancouver Island Summit Edition
7 1 Managing Talent [Need to retain people and workforce]
3 2 Deepening Recession [Shocks to Procurement driving purchasers away]
11 3 Consumer demand shifts [A failure to understand consumer demand shifts is organizational suicide]
20 4 Shifting demographics
16 5 Managing intellectual capital
1 6 The Credit Crunch [Tighter credit environment access to capital]
14 7 Emerging Technologies [New technologies such as clean tech are constantly emerging]
6 8 Cost Cutting [Cost containment for survival impacting suppliers & consumers]
18 9 Inability to innovate
12 10 Emerging Markets [Markets in China, India and Russia modernize, levels of domestic competition increase]
www.viea.ca | www.oceanmarinespace.com | www.patrickmarshall.tel slide 4
Bottom Business Risks Q4 2009
Red = Hot | Quick
Amber = Caution | Slow
Green = Cooling | Slower
Q1
From Q4
To Ernst & Young Business Risks: 2009 Vancouver Island Summit Edition
15 11 Capital allocation [Making large long term investments pay off in a short term market] 4 12 Radical Greening [Environmental and sustainability issues, carbon management]
24 13 Managing new business models [not building support infrastructure fast enough] 8 14 Executing alliance and transactions [ Mergers and acquisitions slowed, alliances and
partnerships critical] 13 15 Globalizing the Enterprise [Striking the right balance between standardization and localization] 2 16 Regulation and Compliance [Response to Credit, Environment, Workplace Safety]
19 17 Infrastructure risks 17 18 Energy shocks 10 19 Reputation Risks [Environment and climate concerns threaten organization reputations] 23 20 Supply chain and extraprise [critical threats easily forgotten until next crisis] 5 21 Non-Traditional Entrants [New competitors for declining order files] 9 22 Business Model Redundancy [Tech and Industry Transition makes approach to operations
obsolete] 22 23 Model risk [Backward looking risk management] 21 24 New owners
www.viea.ca | www.oceanmarinespace.com | www.patrickmarshall.tel slide 5
Top Ten Ranked Extreme Relevance to the Island
Factors from the Conference Board of Canada
Please provide your impression of the relevance to the Vancouver Island Economy of the following
indicators: ["D" indicates Letter Grade and # indicates rank out of 10 markets]
Answer Options Low Relevance
Medium Relevance
High Relevance
Extreme Relevance
Cost of Doing Business Index [C 7] 1 18 30 15
Employment Growth [B 3] 4 13 34 12
Investment in Information and Communications Technology as a percentage of GDP [C 5]
1 22 29 11
Venture Capital Investment [D 3] 4 22 26 11
Business Expenditures on R&D as a percentage of GDP [D 6]
4 16 33 10
Government Expenditures on R&D as a percentage of GDP [D 10]
3 22 29 10
Apprenticeship Completion [D 6] 1 17 36 9
Services Labour Productivity Growth [D 10] 3 17 32 8
Overall Labour Productivity Level [D 8] 1 15 38 7
Overall Labour Productivity Growth [D 9] 1 18 36 7
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Challenges to your Operations Q4 2009
Indicates need for more future vision for direction.
Rate the impact of the following four categories of
challenges as they pertain to your operations.
Answer Options Rating 4. Strategic Issues High to Extreme 2. Financial Issues High to Extreme 3. Operational Issues Medium to High 1. Compliance Issues Low
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Alliance Goals are Ranked and Rated at Q4
The numbers correspond to how these Goals are stated in Policy
The Goals of the Vancouver Island Economic Alliance are:
Answer Options Rating 1. To promote a sustainable and diversified
economy for all residents of the Vancouver
Island economic region;
High to Extreme
4. To promote regional initiatives that
strengthen economic capacity; High to Extreme
3. To provide regional leadership for regional business retention and expansion; and; Medium
2. To promote strong communities and First Nations and careful stewardship of our natural resources.
Medium
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Alliance beliefs Ranked and Rated at Q4
These Belief Statements are ranked in importance in Q4
The Alliance is premised on the following basic beliefs.
How do you rate these?: Answer Options Rating C. The considerable economic and social transition that is
underway on Vancouver Island, from a mainly resource based extraction economy, to more of an information and service based regional economy, presents challenges and
opportunities that can best be addressed through collective
action;
High
D. Shared resources can increase access to the investment
community and enhance our competitiveness and ability to attract skilled workers.
High
B. The limited regional critical mass adds to the challenge of competing effectively in the global economy. We want to position Vancouver Island to be a serious contender for investment
in BC;
High
A. Shared economic issues that need more effective and informed leadership can be addressed through regional collaboration; Medium
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Rating of Alliance Strategies
These Strategies are ranked in importance in Q4
The Alliance currently engages four strategies. How do you rate the
importance of these subjects?:
Answer Options Rating
A. Marketing Vancouver Island - To compete effectively for investment and skills attraction, we require clear, positive, and effective regional brand identity built upon core values and strengths found within the region;
High
D. Investment and Workforce Attraction and Retention - The Alliance has undertaken a program to actively promote Vancouver Island to investors and skilled employees.
High
C. Assist in Building Capacity in Rural and Remote Regions - Identify, promote and support economic diversification efforts in First Nations and remote communities; and;
Moderate
B. Expanding the Alliance and Excelling as a Member driven
financially sustainable organization - The Summit is one of several initiatives designed to weld relationships;
Moderate
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Respondents Operate in this Industry
Basic Industrial Divisions of the Economy
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Respondents Length of Employment
This represents the number of years Employed with their current employer
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Respondents Role with Employer
This represent the level of Accountability in the Organization
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Respondents Gender
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Respondents Home Region
These are British Columbia’s Development Regions
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Respondents Locale
These are Tribal and Municipal Regional Districts
I Live and Work in this Island Coast Region:
Answer Options Response Percent
Nuxalk Territory 0.0% Oweekeno Territory 0.0% Central Coast Regional District 1.5% Mount Waddington Regional District 1.5% Kwakwaka'wakw Territory 0.7% Strathcona Regional District 6.0%
Naut'sa mawt Territory 0.7% Comox Valley Regional District 6.7%
Nuu-chah-nulth Territory 2.2% Powell River Regional District 0.7% Sunshine Coast Regional District 0.0% Nanaimo Regional District 38.1%
Alberni Valley Regional District 3.7%
Cowichan Valley Regional District 4.5%
Islands Trust 0.0% Coast Salish Territory 1.5% Capital Regional District 32.1%
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Respondents View
This is the lens that Respondents view the economy. Each is Unique and offers bias.
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Respondents Place of Origin
Experience also colours the View of the economy
I was born and bred in the following region:
Answer Options Response
Percent
Vancouver Island Coast 25.7% Mainland Southwest 17.1% Thompson Okanagon 4.3% Kootenay 0.7% Cariboo 0.7% North Coast 0.7% Nechako 0.0% Northeast 0.7% Rest of Canada 43.6% Asia Pacific 0.0% Europe 5.7% Africa 0.0% Australia 0.0% South America 0.7%
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Respondents Employers
Broad cross section of interests
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Respondents Education
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Respondents with < 3 Years Experience
This demonstrates skills sets
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Respondent Demographics
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Respondents Responsibility
Demonstrates level of Financial Accountability with Employer
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Academy of Management ACI Administrative Sciences Academy of Canada Alberta Career Management Assoc. Alberta College of Social Workers AMA Aquaculture Association of Canada ASLRR Assoc. of BC Professional Foresters Association of Film Commissioners International ASTTBC BC Aviation Council BC Business Council BC Career Development Association BC Chamber Executives BC Chamber of Commerce BC Human Resource Management Association BC Museums Assoc. BCAB BCAC BCCDA BCTF Better Business Bureau C.A. CAC CACEE CAFCE Campbell River Chamber Of Commerce Canadian Accredited Insurance Brokers Canadian Chamber Executives Canadian Museums Association Canadian Tax Foundation CCSBE CFIB CFIG CGA BC Chartered Accountant
Chartered Insurance Professionals CICA CIP CITT CMA CMC Community Futures Comox Valley Chamber of Commerce COTA CPRS CREA Credit Union Executive Association CSAE CTAA Ducks Unlimited Canada Economic Developers Association of BC Economic Development Group EDAC EDC European Group on Organization Studies Gateway Council Greater Nanaimo Chamber of Commerce GVCC GVTA IAAE Institute of Chartered Accountants Of BC Insurance Institute of Canada International Assoc of Privacy Professionals International Association of Airport Executives International Fiscal Association Island Professional Event Networking
MBACSC Nanaimo Chamber of Commerce Nanaimo Economic Development Group Nanaimo Executive Association OCEAN Industries BC Oceanside Women's Business Network PIBC Professional Accountant Professional Engineers of BC Professional Institute of the Public Service of Canada Project Management Institute RAC Reputation Management Institute Rotary Rotary International Small Business BC SME The Secretan Center for Higher Ground Leadership as a Higher Ground Leadership Associate ToastMasters International Toastmasters International Tourism Nanaimo Tourism Victoria TRUCK LOGGERS ASSN TTRA UDI University of Victoria Vancouver Board of Trade Vancouver Island University Victoria Executive Management Club Victoria Hotel Marketing Club Victoria Real Estate Board VIEDA VIREB VIU Foundation Board Westac
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Summiteers 2005
Maritime Heritage Centre | Campbell River
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Summiteers 2005
Maritime Heritage Centre | Campbell River
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Summiteers 2005
Maritime Heritage Centre | Campbell River
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Summiteers 2005
Maritime Heritage Centre | Campbell River