Executive Confidence Index at All-Time High
June 26th, 2017
REGINA – Executive Confidence and economic optimism is high for the Greater Regina Area’s business leaders, according to the June Quarterly Report of the Regina Executive Leadership Outlook (RELO) released today by Economic Development Regina Inc. (EDR).
The Executive Confidence Index is at an all-time high of 2.31, an increase of 10 points from the previous quarter. This rating demonstrates renewed and enhanced optimism from the Greater Regina Area (GRA) executive leader survey participants, signaling the economic recovery. The Executive Confidence Index is a three point scale, from 1 to 3, reflecting the overall optimism of key business leaders and improvements of their business for the next twelve months.
“The GRA’s competitive edge is enhanced by our business leaders’ continual focus on innovation and, research and development,” said President and CEO of Economic Development Regina, John Lee “ this coupled with the strong Regina advantage of economic diversity and stability provides a renewed optimism and indicates positive economic growth.”
There is a substantial increase in the level of optimism as 90.0% of respondents expect their business’ fixed investments to increase or stay the same over the next 12 months. Business uncertainty coming from the provincial budget is subsiding with 40.0% of participants expecting their investments to increase over the next 12 months. The Business Leaders believe the economy has entered into a recovery mode.
“It is motivating to see such optimism from business leaders. As we head into recovery, there is a focus on innovation that will serve our economy well in the years to come. While, each leader takes a unique and customized approach to their innovation agenda those who are most successful have built processes to enable systematic innovation in all parts of their business,” said Praxis Consulting Principal, Valerie Sluth.
In the GRA, Business Leaders believe that a commitment to innovation must be clearly defined and supported within the province. Survey respondents believe that innovation and R&D is a key component to their organization’s competitive advantage, and embeds innovation in everything from customer interaction to new product development.
“Exploring innovative approaches to how we do business is at the forefront of our company,” said President and CEO of ISC, Jeff Stusek. “Our people are passionate about finding new ways to add value to the products and information services we provide. Continuously striving to enhance the customer experience is how we maintain a leadership position in our industry.”
With the shift to a strong outlook for our economic future, and through a commitment to innovation and R&D, the outlook for the Greater Regina Area is good.
The full report can be accessed at: www.economicdevelopmentregina.com/market-intelligence/thought-leadership/regina-executive-leader-outlook
For more Information, contact:
Economic Development Regina
P: 306-789-5099 ext. 237
About the Regina Executive Leadership Outlook
Commencing in 2015, the Regina Executive Leadership Outlook (RELO) is a partnership between Economic Development Regina Inc.(EDR) and Praxis Consulting that provides the perspective and thought leadership of Regina’s key business leaders about current and future prospects for the Regina economy on a quarterly basis. For EDR, RELO is more than simply taking the pulse of our community; it informs our strategy by encouraging our community leaders to “Think Big”. Partnerships, like the one EDR shares with Praxis Consulting are an ideal way to identify the changes required to take Regina from good to great. RELO is one of many tools used by EDR to shape and confirm EDR’s Sector Strategy and its vision of a Regina that is home to 300,000 people and an economy that will create 50,000 new jobs by 2040.
About Praxis Consulting (www.praxis-consulting.ca)
Praxis Consulting is Saskatchewan’s largest locally-based management consulting firm.
Praxis works collaboratively with clients in the facilitation of growth and excellence. Leveraging an unmatched wealth of experience across multiple sectors, Praxis adds value to their clients through:
- Research: Information gathering and data analytics.
- Strategy: Thought-leadership, rigorous planning, and pragmatic strategies.
- Results: Cascading strategy and culture within the organization.