Boosting Business Productivity in Canada

In today’s competitive global market, Canadian businesses face the critical challenge of enhancing productivity to remain competitive and drive growth.¹ Mivado GlobalPerformance, a leading process optimization and improvement service provider, offers a comprehensive framework to help Canadian organizations unlock their full potential.

Key Productivity Challenges Facing Canadian Businesses

• Slow Economic Growth: Canada’s economy has experienced sluggish growth, impacting business profitability and investment.²
• Global Competition: Intense competition from international markets requires Canadian businesses to be highly efficient and agile.
• Technological Disruption: Rapid technological advancements necessitate continuous adaptation and innovation to remain competitive.
• Skills Shortages: A lack of skilled workers in certain sectors can hinder productivity and limit growth potential.³
• High Costs: High operating costs, including labor and energy, can significantly impact a company’s bottom line.⁴

The Mivado GlobalPerformance Approach

Mivado GlobalPerformance employs a data-driven, results-oriented approach to help Canadian businesses enhance productivity. Their services encompass:

1. Process Mapping & Analysis
   • Identifying Bottlenecks: Pinpointing areas within business processes that are inefficient or causing delays.⁵
   • Data Collection & Analysis: Gathering and analyzing data to identify performance gaps and areas for improvement.
   • Root Cause Analysis: Determining the underlying factors contributing to inefficiencies.
2. Process Improvement & Optimization
   • Lean Principles: Implementing Lean methodologies to eliminate waste and streamline processes.
   • Six Sigma: Utilizing Six Sigma techniques to reduce defects and improve quality.⁶
   • Automation & Technology Integration: Leveraging technology, such as automation and AI, to enhance efficiency and productivity.
3. Change Management & Implementation
   • Developing Action Plans: Creating detailed action plans for implementing process improvements.
   • Training & Development: Providing training and support to employees to ensure successful implementation.
   • Monitoring & Evaluation: Continuously monitoring performance metrics to track progress and identify areas for further improvement.

Benefits of Mivado GlobalPerformance for Canadian Businesses

• Increased Efficiency & Productivity: Streamlined processes and reduced waste lead to significant improvements in productivity and output.⁷
• Reduced Costs: Lower operating costs, including labor and material costs, improve profitability.
• Improved Quality: Enhanced quality of products and services leads to increased customer satisfaction and loyalty.⁸
• Increased Innovation: A focus on continuous improvement fosters a culture of innovation and adaptability.
• Enhanced Competitiveness: Improved productivity and efficiency enable Canadian businesses to compete more effectively in the global market.

Conclusion

By leveraging the expertise of Mivado GlobalPerformance, Canadian businesses can effectively address productivity challenges and achieve sustainable growth. Through a combination of process optimization, technology integration, and a focus on continuous improvement, organizations can unlock their full potential and thrive in today’s dynamic business environment.

Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice.

Note: This article is based on general information about Mivado GlobalPerformance and the challenges facing Canadian businesses. Specific results may vary depending on individual circumstances and the specific services utilized.

For more information, please visit the Mivado GlobalPerformance website.

References

1- Productivity Booster: Leveraging innovation, offering Canadian workers a path to prosperity on their terms; Member Perspectives; May 15, 2024, https://www.thebusinesscouncil.ca/publication/productivity-booster-leveraging-innovation-offering-canadian-workers-a-path-to-prosperity-on-their-terms/

2- Canadian business investment continues to lag; By: Kevin Press; January 14, 2025; https://www.investmentexecutive.com/news/research-and-markets/sme-business-investment-continues-to-lag/

3- Operating Costs Definition: Formula, Types, and Real-World Examples; by Chris B. Murphy, Updated June 28, 2024; https://www.investopedia.com/terms/o/operating-cost.asp

4- How to Identify Business Process Bottlenecks; 15 May 2023; https://www.velocity-it.com/knowledge-hub/how-to-identify-business-process-bottlenecks/

5- How Six Sigma Helps Improve Business Processes and Efficiency; Published on: 31/01/2024 07:20; https://imcinstitute.ae/how-six-sigma-helps-improve-business-processes-and-efficiency

6- Five benefits to reducing waste in process manufacturing; March 27, 2023; By Isabell Bücher; https://precog.co/blog/5-benefits-to-reducing-waste-in-process-manufacturing/

7- Quality in Customer Service and Its Relationship with Satisfaction: An Innovation and Competitiveness Tool in Sport and Health Centers; José Álvarez-García , Encarnación González-Vázquez, María de la Cruz Del Río-Rama ^3,*, Amador Durán-Sánchez; https://pmc.ncbi.nlm.nih.gov/articles/PMC6843569/

About the author: Kossi Molley, Chemist; LSSBB; PMP