It is always good to step back and look at current economic data as it keeps us very sober and grounded. Over the past year we have experienced a very brutal economic recession, as industrial production has plummeted at double digit rates in Germany (-17.9%), Japan (-29.5%) and the United States (-13.6%).

Profits have collapsed and millions of workers are unemployed. A recent Cap Gemini Merrill Lynch World Wealth Report survey of high-net-woth individuals representing US $33 trillion in assets points to cash balances at roughly 21% of assets.

Recently Industrial production in Japan increased to nearly 6% in May. Europe as well is slowly in modest revival mode.

There are many different perspectives in the market place on the speed of the recovery - what is key for all leaders to reflect on going forward is :

1.) How can they accelerate new capabilities to differentiate their products and offerings to stand out from the crowd? Without a differentiated brand, and loyal customers with a unique services experience if solutions are simply commodities - Canadians need to continue to look at offshoring manufacturing capabilities as cost structures are simply not competitive for labor rates...

2.) Understand the smartest growth opportunity in their business models is to develop collaboration networks and deep trusting ecosystems (venture clusters) on a global basis. Leveraging new solutions using Digital social media and Web 2.0 is one of the smartest investments that manufacturing organizations can invest in.

Just look at the value of the MIN community - all you have to do is ask a question and your community will respond.

BringINNOVATIONon and let's together move Canada from a D in Innovation to an A where we should be along with Finland, Sweden, and Singapore.