How Does Information Networking Create an Export Region?

Export driven economies fuel themselves through an octane boost of information. Information makes their way into opportunity finding, employment, and development. With the right methods of information transference regions can further develop their export driving economies by understanding how innovation fulfills demand-side and supply-side economics. Paul McPhee (2012) explores innovation strategy information spillover contributions as an important catalyst in simulating exports and employment. 

Local development exists within a national context. Local stakeholders and business members work together to create development. Local networks and supply chains also rely on greater information links in national networks to be successful (Bathelt, 2005).  In other words, there exists the tighter information transference within local networks and wider networks within the nation. Even though the author doesn’t state this it can also include information and resource vines throughout the globe.

This is demonstrated by international organizations that seek investment locations that have assets, organizational and institutional structures that support innovation information that fosters development (Paniccia, 2002).  As a bounded rationality such organizations draw in this information to create new products and services that have market relevancy. Without the information sources full development is not possible due to a lack of development feed.

We can find a number of examples within the market. In Australia clusters formed from networks of regionally based firms within the wine, fishing, film, education, and tourism industries that collaborate and innovate collectively and individually through alliance, commissions, federations, and associations (Roberts and Enright, 2004).  Each industry has the opportunity to work with other industries in both the local setting as well as the national setting to create new products and services. Local clusters exist within a wider national and international context.

The author found that information transference fostered exportation of products and services. A process of increasing the sourcing, generation, transferring, and sharing of information within regional networks is necessary to increase export related employment. This information is used for mutual development that impacts demand-side and then export-side growth.  When information transference speeds up the opportunities from growth and exportation also increase and this can lead to higher levels of regional employment.

Comment: The study lends support to the concept that tighter formations of economic vines exist in clusters and these clusters are woven into regional hubs that are connected to other hubs both within a nation as well as across the globe. The success of local economies is based in the ability to quickly and easily transfer information and resources through their economic hubs. These hubs use their resources to create newer and better products.

Bathelt, H. (2005) Cluster relations in the media industry: Exploring the ‘distanced neighbour’ paradox in Leipzig. Regional Studies, 39, pp. 105-127.

McPhee, P. (2012). Export driven regional development: a comparison of policies based on tiberi-vipraio-hodgkinson innovation strategies and networked information flows. Australasian Journal of Regional Studies, 18 (1). 

Pannicia, I. (2002) Industrial Districts: Evolution and Competitiveness in Italian Firms, Edwards Elgar, Cheltenham

Roberts, B. H. and Enright, M. (2004) Industry clusters in Australia: Recent trends and prospects. European Planning Studies, 12(1), pp. 99-121.

Small Business Start-Ups Create Economic Impact

Economic growth is important for cities, states, and nations. Research by Donald, et. al. (2009) helps decision-makers understand that a healthy balance between large and small business development puts economies on the right track to flourish while encouraging positive budget balances. Their study shows that the activity of business start ups foster growth not only in one state but also the surrounding states. Some businesses will succeed and others will fail but the economic activity of constant start ups is a revenue generator. 

The U.S. Small Business Administration reports small business activity is one of the major engines to economic growth and creates a majority of new jobs. It is possible that smaller businesses that are entrepreneurial by nature engage in research and development that have an even larger impact on the economy (Acs and Plummer, 2005). Both jobs and innovation are needed to keep the economic engine running at ideal speeds. 

There are a number of economic indicators of small business activity. States often focus on gross state product (GSP), state personal income (SPI) and total state employment levels. Much of the information is drawn from the Census or Bureau of Economic Analysis. These hard facts often ignore the rates of new business birth and death within a state. Yet it is this birth and death process that keeps momentum.

Small business growth contributes heavily to economic growth. There is a lag in the start of business and its overall contribution to the economy (Holtz-Eakin & Kao, 2003). It takes time to move from a start-up stage to a more sustainable stage where a successful process can compete on the market. When a number of businesses move into a sustainable stage they contribute to hiring, wealth, and product development. 

The environment is often a predictor of where small businesses will start. Entrepreneurs like places where an educated workforce exists (Lee et. al. 2004). Those who are investing their money want to connect up to those with the skill and knowledge to compete. Universities often act as hubs to entrepreneurial growth under the right conditions and a loosening of bureaucracy can make ideas more possible.

The results on small business for macro economic growth are mixed depending on which metrics one uses. However, by looking at birth and death rates the authors found that small business growth has a large impact on state economic growth. That growth also helps raise other states within their proximity. It is important to have increasing growth of business start-ups to raise tax revenue and positive economic output. The author argues that states who attempt to foster small business start-ups is a factor even more important than raising tax rates or implementing rules to create growth. 

Comment: The author did move into the concept of large firm and small firm growth. It appears that large firms provide a level of stability but higher levels of economic growth can be found in the constant starting of small businesses. Even when some small businesses die off in the first few years the entrepreneurial spirit raises its head again to start another business with new knowledge. Policy makers should be focused on ensuring that there is an appropriate balance of large and small business development and the environment to help encourage this higher economic activity.  States in close proximity also receive benefit in economic activity and should encourage each other to create larger synergy.

Ace, Z. & Plummer, L. (2005). Penetrating the knowledge filter in regional economics. Annals of regional Science, 39

Bruce, Et. Al. (2009). Business activity and state economic growth: does size matter? Regional Studies, 43 (2). 

Holtz-Eakin, D. & Kao, C. (2003). Entrepreneurship and Economic Growth: the proof is in the productivity. Working Paper No. 50. Center for Policy Research, Syracuse University, Syracuse, NY.

Lee, et. al. (2004). Creativity and entrepreneurship: a regional analysis of new firm formation. Regional Studies, 38.

Preparing College Graduates for Job Interviews

One of the responsibilities of higher education is to prepare students for the job market. This preparation is a long process of learning competitive skills to successfully work within an organization. Sometimes, we forget that in order to have students use their new developed skills they will need to land a job. Dr. Lauren Mackenzie (2009) shares some of her assignment experiences in helping students interview better and secure the employment they desire. 

She believes that there are three concepts which are helpful to students that include viewing interviews as conversations, nexting, and thin slicing.  As you may not be familiar with these terms nexting is a flow of information, and thin slicing is understanding the non-verbal cues. Together these three concepts help in creating higher levels of interview preparedness. 

All interviews are conversations. The employer is trying to gain as much information about you while you are trying to gauge them. It is a process of opening of information and ensuring that each as an accurate perspective. Through this conversation, job seekers want to ensure that they are balancing honesty with their best attributes to both obtain the position but also ensure that it is the right match for them. 

Nexting entails working within the flow of information and furthering the information for display. As someone asks you a question, expand the information in a positive way and then try and move the conversation in a positive direction. Those who do well at nexting also are able to ensure the interview conversation maintains the best flow to highlight their abilities while leaving the interviewer a positive impression.

Thin slicing entails a concept of understand others behaviors through their non-verbal cues. People have been accurate in understanding others behaviors through a few brief moments of interaction. This is a thin slice of who they are at that particular moment. It does not represent the total person but it gives an intuitive insight into their behaviors and perceptions. If a person gets good at understanding others, they can steer their conversation in a way that encourages receptivity.

Graduates should learn the job based skills as well as the verbal skills to be successful on the market. This can be taught through class by practicing writing a resume, cover page, common interview question responses, and filling out peer evaluation forms. Through the process of thought formalization and feedback, they can better gauge their preparation.

Recent graduates may be interested in some of the job and information sites below:

http://www.quintcareers.com/

http://www.salary.com/

http://www.jobhuntersbible.com/

http://www.jobhunt.com/

http://www.overseasjobs.com/

Mackenzie, L. (2009). Connecting communication theory to interviewing practice: strategies for instruction and evaluation. Currents in Teaching & Learning, 2 (1).