Canadian Electrical Wholesaler

Mar 9, 2018

BCGInnovators are going all in on digital, according to the Boston Consulting Group (BCG) in its 2018 ranking of the world’s most innovative companies.

At leading innovators, R&D and new-product development have become digital endeavors, says BCG, a global management consulting firm and advisor on business strategy. Of the 50 companies named in its 2018 ranking of the most innovative companies, most if not all on the list have built digital technologies into their innovation programs. The trend is pervasive across industries, penetrating what were heretofore the most stolid and conservative businesses.

Like other aspects of digitally driven change, the shift to digital innovation is difficult. It requires executing big changes in strategy, operations, and organization, which affect the entire enterprise. Little surprise, then, that an innovation digital divide has opened up — and threatens to widen — between leaders and laggards. While 79% of strong innovators reported that they have properly digitized innovation processes, only 29% of weak innovators made the same claim. More than one-third of survey respondents said that digitized processes aren’t really doing much for their company, a sign that they haven’t yet found a way to embrace the new possibilities.

In this year’s report on the most innovative companies, BCG examines the state of digital innovation and what it takes for companies to refocus their innovation programs around this aspect of the digital imperative. While North America remains the most highly represented region, with 27 companies, Europe strengthened its showing substantially with 16 entrants, up from 10 in 2016. The travel and transportation sector has expanded its presence as some companies, including Uber, Airbnb, and SpaceX, demonstrate the disruptive potential of digital technologies and digital business models wielded in combination.

The importance of speed in adopting new technologies has gone from near last place to fourth. Speed also used to be last in terms of the number of companies pursuing it as an innovation strategy; it is now tied for third. Strong innovators understand that successful digital transformation requires excelling in three fundamental areas: speed, scale, and value.

Strong innovators are far more likely to use big data and advanced analytics throughout the innovation process than weak innovators, which struggle to leverage data analytics effectively. Strong innovators also consistently use multiple sources of data, originating both internally and externally. Almost three-quarters of strong innovators, compared with less than 20% of weak innovators, reported that new projects or ideas for growth come from social media or data mining.

Strong innovators are more than twice as likely to use outsourcing to access the right capabilities, something that is frequently necessary for companies that do not have all the requisite digital skills in-house. They are also more likely to have properly digitized innovation processes. And it comes as no surprise that far more strong innovators than weak ones are satisfied with their return on investment (90% versus 24%).

Read the full report: http://image-src.bcg.com/Images/BCG-Most-Innovative-Companies-Jan-2018_tcm9-180700.pdfes-Jan-2018_tcm9-180700.pdf

Statistics CanadaThere were slightly fewer active businesses (-0.1%; -1,208) in May compared with a month earlier, marking the first time since May 2020 that the number of closures outpaced openings.

The number of business openings decreased by 11.5%, the largest percentage decrease since December 2018 and the second consecutive month with negative growth (Chart 1). The number of business closures declined by 2.9%, following a 2.5% increase in April. The decline in the number of business openings in May was largely driven by fewer entrants (-16.4%). The number of entrants in May was below the 2015-to-2019 average for the first time since August 2020. 

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488 Days of COVIDBy John Kerr

Looking back to early 2020, the industry entered the first quarter with a sense of a solid year ahead, one that would easily eclipse 2019, and then in mid-March the brakes went on and relatively quickly.

On both the supplier and distribution sides, many took a reactionary stance and then quietly planned their next moves. Thinking differently, adding stock and doubling down on inventory, looking at alternative shipping methods and figuring out how to stay close to the customer are among the attributes of those that pivoted well and have come out of the dark in great shape.

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Non-Mortgage Borrowing from Chartered Banks in March 2020The outstanding credit debt of private non-financial corporations doubled from the height of the financial crisis in 2008 to early 2020. At the onset of the pandemic in March 2020, businesses added a record $52.1 billion in credit debt to their balance sheets. However, according to a new study, as other sources of financing became available and businesses adapted to the pandemic, outstanding loan balances with banks declined for eight consecutive months.

The study Trends in Canadian business debt financing: Before and during COVID-19 looks at the types of credit debt private non-financial corporations incurred prior to and during the COVID-19 pandemic, and examines how they used that liquidity to weather the economic turbulence during this period.

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Investment in Building Construction - May 2021Investment in building construction cooled slightly in May, decreasing 1.9% to $19.4 billion. This was the first drop in seven months. Residential construction investment (-2.7%) was down for the first time since April 2020, while non-residential construction increased slightly.

On a constant dollar basis (2012=100), investment in building construction declined 2.7% to $14.8 billion in May.

 

 

 

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David GordonBy David Gordon

As we transition from the pandemic many wonder about the future of sales, meaning, “What will the sales process (sales model) look like in the future,” and, essentially, “What is the role of / for outside salespeople?”

In reality, this question was asked pre-pandemic as management lamented that Sales wasn’t being as productive as they desired. Companies are always seeking to improve their processes, whether it is having salespeople better penetrate accounts, identify and call on new customers, use a different (new?) sales method...
 

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Changing Scene

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 David Gordon, President of Channel Marketing Group, will provide insights from the Rep ...
 

 

Signify“In the second quarter we saw an acceleration of the pace of recovery in comparison to the first three months of the year,” says CEO Eric Rondolat. “We successfully executed our strategy as demand for our connected lighting offers and our growth platforms remained strong.”

The consumer segment held its momentum and demand for conventional products proved resilient. The professional lighting segment showed sequential improvements, while still impacted by both extended lockdowns and supply constraints. Overall, we managed to improve the operating margin by 190 basis points and generated a solid free cash flow. 

 

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Adrian ThomasSchneider Electric Canada, together with the France Canada Chamber of Commerce Ontario (FCCCO) is proud to announce Adrian Thomas as the newly elected President of the European Union Chamber of Commerce in Canada (EUCCAN). Thomas, who currently serves as the country president of Schneider Electric Canada is entrusted with continuing the growth of EUCCAN by reinforcing transatlantic cooperation between the European and Canadian business communities.  “I am deeply honoured for the opportunity to join EUCCAN as their new President and build on the growth they’ve experienced in recent years,” says Adrian Thomas, Country President of Schneider Electric Canada. 

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Agents of ChangeAgents of Change is an event for stakeholders from Canada's electricity and beyond to build capacities in diversity, equity and inclusion.

Agents of Change is a one-day event focused on equipping attendees with the tools they need to address the challenges under-represented groups face in the workplace. Women, Indigenous people, racialized people, persons with disabilities, LGBQ+, gender diverse people and newcomers to Canada are under-represented in electricity and often face systemic barriers. We have the power to change this disparity and transform our sector into a paragon of equity.

 

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Flemming Jensen, Jason Samuelian, and John ClancyLED lighting solutions manufacturer Espen Technology has announced three changes to its sales management team.


Flemming Jensen (left), previously was Vice President of the Central and South Regions, has been promoted to Senior Vice President, Sales and Marketing. Flemming brings over 40 years of industry experience in the distribution, ESCO, and agent markets. He will focus on continuing Espen’s top line growth, in the coming years.

 


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Edison ReportEdisonReport has announced their 5th Annual Lifetime Achievement Awards.  These Awards will be presented the Tuesday evening, 26 OCT before LightFair begins on Wednesday, 27 OCT.

Judges for 2021 were Paul Pompeo, Nancy Clanton, and Donny Wall.  Clanton stated, “Selecting individuals for this award was extremely rewarding especially in identifying the leaders and innovators, including world class lighting designers and researchers, that truly have made a tremendous positive impact in our lighting industry.”

 

 

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Brett NicholdsBy Blake Marchand

Illumisoft Lighting is an innovative company headquartered in Ottawa that focuses on suspended ceiling troffer LED fixtures that utilize optical film technology to achieve a high level of performance and efficiency.

Their flagship product is the EcoWing, which is available for new construction and fixture in fixture retrofits. Their primary application target is office buildings, hospitals, and dealerships. Recent projects include the Department of National Defense building in Ottawa, AMPED Sports Lab, Queensway Carleton Hospital, and Surgenor Automotive Group.

 

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Jeffrey MoyleBy Line Goyette

“The ongoing integration of Rexel Utility into our Canadian business platforms has underscored our responsibility as an organization to find creative solutions for today’s challenges, as well as to prepare for tomorrow’s opportunities.”

This quote from Jeffrey caught my attention. Vice President, Supplier & Digital Strategy at Rexel Canada Electrical Inc., Jeffrey has extensive experience in the industry and is a graduate of the University of Western Ontario with a Master’s in Business Administration, focusing on internarial leadership.

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