3 key to economic development
TRANSCRIPT
3 Keys to Economic DevelopmentStan Chung, PhDVP Academic and Applied Research
ECONOMIC DEVELOPMENT IS A FUNCTION OF HUMAN WELL-BEING.
IMPROVEMENTS IN WELL-BEING REQUIRE NEW FORMS OF LEADERSHIP.
“It took me twenty years to realize that I wasn’t in mining: I was in communitydevelopment.” Senior Mining Executive
KEY 1: COLLABORATION IS THE NEW COMPETITION
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Collaborative Leadership Competencies
Bronze: personal collaboration
(relational skills)
Gold: community
collaboration (cultural
humility skills)
Silver: team collaboration (intercultural
skills)
KEY 2: TEACH COLLABORATIVE LEADERSHIP
KEY 3: Beyond Comfort Zone: Innovation as Leadership
Innovation Drives Fun
• Innovation creates discomfort and excitement.
• Status quo thinking can mean a quiet personal tragedy.
• New markets, new technology, and new relationships create discomfort and fun.
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Innovation Metrics
bronze
% growth in agreements signed with former competitors or allied organizations.
silver
% of annual budget of r/d investments in technology that drive business model transformation.
gold
% new revenue as a product of innovation through technology.
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• Best place to do business
• Best place to walk downtown
• Best services for seniors
• Best housing affordability
• Best place to age in place
Place-Based TARGETS for Innovation
COLLABORATIVE LEADERSHIP +
INTERCULTURAL EDUCATION+
INNOVATION LEADERSHIP =
SOCIAL AND ECONOMIC WELL-BEING
