Our applied and academic researchers investigate management issues in the context of technology firms. Their research is changing the way we think about innovation, disruption and how tech firms will thrive as the pace of change continues to accelerate. Research programs at the Lazaridis Institute empower the leaders of growing technology firms, entrepreneurs and policymakers with new knowledge and cutting edge practices from across all management disciplines.
Research at the Lazaridis Institute supports and advances academic scholarship. Our extensive global network of researchers supports faculty and graduate students at Wilfrid Laurier University’s Lazaridis School of Business and Economics. The learnings from Lazaridis Institute research will support the development and delivery of new content, pedagogy and delivery methods in order to equip students with the skills they need to become the next generation of business leaders of Canadian technology firms.
Business (Practice) Makes Perfect is the first report of a long-term project that sheds light on how successful technology firms grow.
What are the most successful firms doing right? What separates technology firms with exceptional revenue growth from those with solid, yet lower growth? What business practices make a difference for technology firms and place them on the path to success?
In 2015/16, we studied Ontario-based firms with fewer than 150 employees who plan to scale. These firms, too large for incubators or accelerators, often slip through nets thrown out by government organizations and educational institutions. In short, such companies have to be responsible for their own successes and failures.
Our research indicates that six business practices are strongly correlated with exceptional revenue growth. But their influence differs depending on how old the firm is.
For younger firms (no more than six years since being founded), exceptional revenue growth is related to:
For older firms (established at least six years ago), the core practices for exceptional growth appear to be:
For a copy of this year’s report, contact Nicole Coviello.
Canada has one of the most successful entrepreneurial ecosystems in the world. From Halifax to Vancouver, Canadian innovation and creativity takes the form of hundreds of technology startups each year. But our success in starting tech companies has not translated into a comparable number of globally competitive firms.
The 2016 Lazaridis Institute white paper, Scaling Success: Tackling the Management Gap in Canada’s Technology Sector, identifies barriers that high-growth Canadian technology firms face as they look to grow rapidly to global enterprise levels. Discussions with 125 well-informed and best-placed industry stakeholders — founders of, and investors in, high-growth technology firms from around the world — revealed one clear conclusion: the senior executive talent gap inhibits Canadian companies from scaling up.
The need for experienced senior talent is greatest in four main areas:
The white paper presents a review of the challenges facing Canadian high-tech firms and begins to develop an evidence base upon which to build future initiatives.
For a copy of the white paper, contact the Lazaridis Institute.
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