The Growth Compass Lab is a major research and community engagement initiative of the Institute with a mission to deliver evidence-based insights and intelligence for small business through innovative industry-academic partnerships. The Growth Compass Lab collaborates with experts in research and data analytics both inside and outside of academia with a single goal - to drive the growth of Alberta small business.
The foundation of the Growth Compass was the groundbreaking research that Dr. Simon Raby published in 2017 on the factors that enable Alberta small and medium businesses to grow. Extensive research of 500 Alberta businesses uncovered a model of a Leader’s Growth MindsetTM. This program of applied research has the potential to change the way we educate business owners across the province.
In addition to supporting the greater Alberta community, the Growth Compass Lab ensures faculty remain connected to the community, students are engaged in meaningful research and exposed to real businesses, and knowledge is cycled back into the Mount Royal undergraduate curriculum.
To see the exciting Growth Compass Lab projects that are underway, go to growthcompass.org
What Drives SME Growth? Introducing The Leader's Growth Mindset
Author Professor Simon Raby
This report captures the findings of an 18-month study on the growth of Small and Medium-sized Enterprises (SMEs) in Alberta, Canada. The central question that this inquiry sought to answer was: what are the factors that drive SME growth? The study involved a large survey of SMEs and a set of in-depth interviews with the leaders of ‘High Impact SMEs’. High Impact SMEs are organizations achieving high growth (in revenue, profits and employment) and disruptive in nature. High Impact SMEs invest in a broad range of innovative activities and are more diversified in the markets they serve. They exemplify organizations that many of us aspire to create. We present a new model – The Leaders Growth Mindset – to explain how leaders of High Impact SMEs operate. We report on the common set of practices these leaders apply and that we can each develop in our everyday work.
This was a key message delivered by Dr. Simon Raby at a policy breakfast recently hosted by the JR Shaw School of Business at NAIT in Edmonton. Continue Reading...