A tale of two countries: What the U.S. can learn from Canada
In the aftermath of the worst global financial crisis since the Great Depression, Canada is basking in a well-deserved time in the sun. Unlike the United States and other countries that bore the brunt of the economic collapse of 2008, which was directly linked to a boom and bust cycle in real estate, Canada avoided most if not all of the problems. The reasons can be summed up in two main factors: fiscal conservatism and strength in leadership.
In discussing Canada`s advantageous position pre- and post-crisis, real estate executives profiled in my latest book,
Market Discipline: The Competitive Advantage, Lessons from Canada`s Real Estate Leaders, never took a `we told you so attitude` (which, in itself, is illustrative of the conservative Canadian character that tends to focus on the job to be done rather than bragging about it). Nonetheless, conversations with these executives revealed leadership lessons that might be viewed as truisms`except that consistency in execution and deep influence on corporate culture make them truly notable.
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