Business understanding

Setting direction and operating in keeping with an understanding of the industry or economic sector, market dynamics and priorities, and NRC's role in regional and national systems of innovation.

Level 1

Understands business practices and etiquette

  • Follows appropriate business/professional practices.

Level 2

Applies sound and appropriate business principles

  • Applies knowledge of the industry/sector priorities, dynamics and operational details to make decisions, including those involving risk.
  • Strives for the best return on investments and to maximize the benefits for NRC and clients (e.g. through sound negotiating, identifying business/professional opportunities).
  • Enters into business/ professional relationships that are equitable and beneficial for the parties involved.

Level 3

Understands business sectors

  • Continually gathers information about the current and future market and/or trends within the professional/business area.
  • Maintains and develops an effective network of professional and business contacts that provides professional/market information and intelligence.
  • Identifies opportunities to invest in, develop and promote NRC property, efforts and products.
  • Establishes an effective network of "subject matter experts" to augment own business knowledge. Accesses network to seek advice and guidance on business issues.
  • Acts to influence the market by promoting NRC innovations and their value to the economic and social well being of Canada.

Level 4

Positions NRC within the market context

  • Understands and effectively anticipates the needs and potential direction of science and technology in the marketplace.
  • Understands and values the worth of NRC's intellectual property, development efforts and products.
  • Adapts NRC/Institutes'/the function's priorities and direction to the changing market demands.
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