Innovation and business strategy in Canada, 2022
Description: Innovation and business strategy in Canada, 2022
Innovation and marketing
In 2022, innovative businesses in Canada planned to focus more on product positioningNote 1 than on cost leadershipNote 2 over the period from 2023 to 2027.
Percentage of businesses | |||
---|---|---|---|
Main focus on product positioning | Main focus on cost leadership | Product positioning and cost leadership are equally important | |
Innovative businesses | 54.9% | 3.2% | 41.9% |
Non-innovative businesses | 41.9% | 4.4% | 53.7% |
Multinational businesses: Innovation and intellectual property
From 2020 to 2022, multinational businessesNote 3 were more innovative than non-multinational businesses.
Percentage of innovative businesses | |
---|---|
Multinational businesses | 85.6% |
Non-multinational businesses | 69.8% |
Multinational businesses were more likely to own intellectual property assets.
Percentage of businesses that own intellectual property assets | |
---|---|
Multinational businesses | 49.0% |
Non-multinational businesses | 16.9% |
Competition spurred innovation
Businesses with competitors were more likely to introduce innovations than businesses with no competitors.
Percentage of businesses | Percentage of innovative businesses | |
---|---|---|
At least one known competitor | 96.9% | 76.7% |
No known competitors | 3.1% | 38.8% |
Shill shortages and cutting-edge businesses
Innovative businesses and advanced technology users faced greater skill shortages.
Percentage of Canadian businesses that faced skill shortages, 2022 | |
---|---|
Innovative businesses | 57.2% |
Non-innovative businesses | 31.8% |
Businesses that used advanced technologies | 57.9% |
Businesses that did not use advanced technologies | 43.0% |
Source: Statistics Canada, Survey of Innovation and Business Strategy, 2022.
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