State of Innovation Executive Survey 2017
Thank you for participating in this survey conducted by The Centrale Bank van Aruba.
Globalization and the technological revolution create unprecedented opportunities and an accelerated speed of change. Innovation is a conditio sine qua non for a nation’s progress in this digital era. Thus, creating the conditions necessary to foster growth of the Aruban economy through innovation is imperative to enhance Aruba’s competitiveness and to ensure long-term sustainability and prosperity.

There is, however, insufficient insight into the current state of our national innovation capability. The State of Innovation Executive Survey serves as a benchmarking analysis of the enabling factors and new pathways for fostering Aruba’s innovation capability. The survey questions address the following six (6) main themes: Business & Competition, Innovation & Technology, Labor & Workforce, Finance & Banking, Government & Institutions, Collaboration & Entrepreneurship. 
The survey results provide a tool for policy and public-private collaboration on designing our future economy. Strategic partnerships are essential for unleashing Aruba’s innovation potential within and across small and medium-sized businesses, large companies, government and non-government institutions, and individual entrepreneurs.

The Centrale Bank van Aruba regards the confidentiality of survey data to be of utmost importance. Your responses, including any personal information you provide, will be kept strictly confidential. No personally identifiable information is captured unless you voluntarily offer personal or contact information in any of the comment fields. Additionally, all responses are aggregated and presented in a summarized format.

Aruba, September 2017
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Business & Competition

 
How would you describe the industry outlook for your business/sector in the next twelve (12) months? *

 
What is the most problematic factor for doing business in Aruba? *

From the following list, please select the most problematic factor for doing business in Aruba.

 
How much economic activity in your industry would you estimate to be informal or unregistered? *

 
In your industry, how easy is it for existing businesses to access/acquire capital? *

 
How would you assess the intensity of local competition in your industry? *

 
How stringent are standards on product/service quality, safety and other environmental regulations in your country? *

 
In your industry, to what extent do companies use sophisticated marketing tools and techniques? *

 
In your industry, what is the dominant competitive strategy? *

 
Innovation & Technology

 
How important is business innovation in your industry? *

 
To what extent do you believe digital technologies will disrupt your industry in the next three (3) years? *

 
How common are Quality Certifications (e.g., ISO) in your industry? *

 
What is the primary business objective for adopting digital technologies? *

From the following list, please select the most important business objective

 
To what extent do businesses in your industry apply/use new digital technologies? *

(Digital technologies include, internet, web-based, social and information/communication systems)
 
How many new products/services have you introduced or tested in the past two (2) years? *


 
To what extent do companies in your industry spend on Research & Development (R&D)? *

(Includes, e.g., market research, consumer research, product development)
 
Does your company have one of the following designated innovation roles: CTO, CIO, head of technology, or digital ambassador/liaison? *


 
Does your company invest in digital transformation consulting or similar services? *


 
Which of the following digital features does your company currently have in function? *

Please identify all functional digital features for your company.

 
How easy or difficult is it to start a new business in your industry? *

 
How much competition do you face from new businesses and start-ups in your industry? *

 
What is the biggest barrier impeding your company from taking advantage of new digital technologies? *

Please select only one, i.e., the single most important barrier:

 
How would you assess the telecom and digital infrastructure (e.g., internet) in Aruba? *

 
How would you rate the level of efficiency of customs procedures (related to import and export of goods and merchandise) in Aruba? *

 
Labor & Workforce

 
How well does the local labor market meet the needs of a competitive economy? *

 
How well does the local educational system meet the needs of a competitive economy? *

 
How important are the following general workforce skills and professional traits in your industry? *

From the following list, please select the most important (a maximum of five (5)) skills/traits:

 
Does your industry retain and attract talented people? *

 
To what extent do companies in your industry invest in training and employee development? *

 
Finance & Banking

 
In general, how easy is it for businesses in your industry to conduct the following financial transaction? *

Open a bank (merchant) account
 
In general, how easy is it for businesses in your industry to conduct the following financial transaction? *

Receive a bank loan
 
In general, how easy is it for businesses in your industry to conduct the following financial transaction? *

Conduct international transactions
 
In general, how easy is it for businesses in your industry to conduct the following financial transaction? *

Make inter-bank payments
 
In general, how easy is it for businesses in your industry to conduct the following financial transaction? *

Purchase (suppliers’) products online
 
In general, how easy is it for businesses in your industry to conduct the following financial transaction? *

Receive (customers’) payments online
 
In general, how easy is it for businesses in your industry to conduct the following financial transaction? *

Access financial credit
 
In general, how easy is it for businesses in your industry to conduct the following financial transaction? *

Close a bank (merchant) account
 
In general, how easy is it for businesses in your industry to conduct the following financial transaction? *

Pay taxes online
 
In general, how easy is it for businesses in your industry to conduct the following financial transaction? *

Receive financial funding
 
In your industry, do customers tend to pay more in cash or with (debit/credit) card? *

 
To what extent do you believe digital currencies will be part of our financial landscape in five (5) years? *

 
Which of the following financial accounts does your business currently have? *

Please select all that currently apply to your business

 
Government & Institutions

 
How burdensome is it for businesses in your industry to comply with governmental administrative requirements (e.g. permits, regulations, reporting)? *

 
How would you rate the level of public trust in the ethical standards of politicians in Aruba? *

 
How would you rate the management of public finance in Aruba? *

 
What impact does the level of taxes in Aruba have on incentives to work or invest? *

 
Collaboration & Entrepreneurship

 
Is your company open to collaborating with other companies in the same sector and/or cross-sector? *


 
If your previous answer is yes, on what business areas/challenges would you collaborate? *


 
Does your company collaborate with local entrepreneurs to solve business problems and/or design new products/services? *


 
Has your company invested or purchased products/services of a startup company? *


 
Which of the following values do you consider most important in your organization? *

Please select the most important values (a maximum of five (5)) and principles that reflect your leadership style.

 
How often does your company make a management decision based on ‘instinct’ over ‘complete information’? *


 
Does your business actively seek opportunities to experiment or test out new ideas? *


 
Which of the following statements best captures the spirit of your company’s culture toward change? *


 
Does your company spend time on ideation (idea brainstorming, creative retreats, time to think)? *


 
What is the main benefit of doing business in Aruba? *

From the following list, please select the main/most important benefit of doing business in Aruba:

 
Company Characteristics

 
How long has your company been in business? (in years) *

 
What is your company’s approximate number of employees? *


 
Which of the following best describes your role? *


 
What is your highest-attained education degree? *


 
What is your main line of industry? *


 
What is your age? *

 
What is your gender? *


 
(Optional) Please provide your company website:

 
If you are interested in the final report and presentation, please provide a contact e-mail below:

Thank you for your time and participation!