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 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.
What Drives SME Growth? Introducing The Leader's Growth Mindset
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.