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Showing posts from February, 2017

Aspects of Successful Cluster Management of the Seventh District's Largest Cities

Cities that become hubs for regional economic expansion share some similar traits. There are benefits to opening businesses within existing clusters that lead to overall development of profitable opportunities. To understand this is beneficial to look at a district and how the cities are fostering their economic development. A study within the Economic Perspectives Journal offers insight into benefits of clusters within the U.S.'s seventh districts largest cities (Matton & Wange, 2014). Wages, patents, and economic growth are often associated with hub oriented cities that support the development of strong industry clusters. Each of the regions appears to have their own competencies such as automotive, technology, aerospace, rubber, transportation, as well as other market driven activities. When enough of these industries exist and work in collaboration they have formed a meaningful cluster. Each city tries to actively manage these clusters with varying degrees of success of

The Potential of Mobile Phone Marketing

Mobile marketing is growing as a potential marketing channel to reach increasingly on the go consumers. The cell phone is nearly always carried with consumers in a way that makes them constantly connected to a network that offers new opportunities for product exposure. A literature review in the Journal of Retailing and Consumers Services synthesizes literature on mobile marketing and comes to a few conclusions (Strom, Vendel, Bredican, 2014). There are many potential use of mobile phones for marketing. Text, web searches, social media, phone calls and much more. In this case, mobile phones are seen as a method used by consumers by searching out products and comes to a conclusion to purchase. Market Potential: It is first beneficial to determine potential size of the marketing. An industry study shows us that half of U.S. mobile consumers are mobile device shoppers with 10% being heavy users and 40% light users (Leo Burnett & Arc Worldwide, 2011). As mobile phones continue t

Genius Beyond Intelligence Level for Workplace Development

The study of genius has attracted sociologists, psychologists and business people for a long time. Finding ways to attract and enhance genius to become performers can lead to significant gains for society. Whether that is from business development or scientific breakthrough, the hiring and grooming of genius can lead to new ways conducting business in society. There are some factors that make genius unique among the general population that interlopers should become aware. Genius is often defined by one's intellectual ability. A person who scores above 140 on a standard Standard-Binet scale is considered a genius. They may also be seen as a person who is 2 standard deviations above average. According to an assessment of genius in the Social and Personality Psychology Compass Journal this quantitative method may limit our understanding of genius personality traits and how it can influence performance (Simonton, 2012). IQ assessment is a limited perspective of highly intelligent

Can Innovative Clusters Protect the Economy from Recession?

Recessions can be brutal and countries often suffer from the magnitude of global changes and shifts that can impact their economic well-being. While they search for solutions to strengthen their economic position among lower cost emerging nations they should consider the benefits of developing clusters. According to a study entitled Coping with Economic Crisis-The Role of Clusters published in European Planning Studies , clusters offer a ray of hope in fortifying an economy from recession. When the global economy adjusts there will be winners and losers. Some nations will pick up additional manufacturing while others will lose manufacturing. When times are good more people will be employed, while when times are bad people will be unemployed.  Europe and the U.S. has lost jobs over the past few decades due to the cheaper cost of manufacturing in places like China, Asia and India. The only true competitive position that Western countries can make is to be more innovative and develop

The Location of a Business Influences its Growth Potential

What advantages does close proximity of businesses have for product and firm development? According to a study conducted on the  Hsinchu   District in Taiwan, close proximity results in knowledge spin-offs as a result of people moving and sharing of knowledge between firms. Proximity influences innovative development in technology firms in a way that creates synergy and higher growth ( Hu,   Lin , and  Chang , 2005) . Proximity also increase the likelihood that products will move from the conception to production stages. Innovation is a messy process where knowledge interacts with available resources in a way that leads to new product development. A significant portion of this growth rests on a person's social networks and the ideas those networks generate. Social learning becomes part of the process of how tightly woven clusters develop to overcome market challenges.  " the close spatial clustering of technology   firms  favour  repeated knowledge agent spinoffs   and