path to innovation driven economy, by richard d. smith, smith-trg
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Why and how today\'s America can create and build job growth and wealth creation machines for 21st Century \'Future World\'. Path to innovation driven economy by Richard D. Smith, SMITH-TRG CEO.TRANSCRIPT
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SMITH-TRG
The path to a
Future Worldinnovation driven economy
By: Richard D. SmithPresident & [email protected]
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SMITH-TRG
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My name is Richard D. Smith and I am President
& Managing Principal at SMITH-TRG a business
performance improvement and value creation
consulting firm.
Since February 2008 I have also spearheaded
the U.S. Road to Recovery Project - a private
sector initiative to help others nation-wide create
sustainable jobs across industries, sectors,
segments and product lines.
In October, 2009 I authored and published the
U.S. Jobs Creation Plan, 2 million net new jobs
for American citizens in 12 months. Presentation
available to view at www.weSRCH.com under
author Richard Smith.
Today’s presentation reflects lessons learned
and outlines why and how today’s America can
create and build sustainable U.S. job growth &
wealth creation machines for the 21st Century.Richard D. Smith, CEO
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W H E R E A M E R I C A S T A N D S
SMITH-TRG
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U.S. National Debt as of 4/2/2010
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$12,725,277,600,615
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National Debt per citizen
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$41,183.00
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$115,945.00National Debt per tax payer
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Average American Income
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$39,446.00
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US citizens unemployed/underemployed
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26,350,699 or 17%
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Feb/2010 long-term unemployed, nearly double 2009(40% of U. S. jobless are long-term/un-used intellectual capital)
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Over 6 Million
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March/2010 jobless rate for 16 to 29 year olds(Highest rate since 1948, per Bureau of Labor Statistics)
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15.2%
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The nation's jobless toll is draining unemployment-compensation funds so fast that, according to federal projections, 40 state programs
will go broke by 2011 and need $90 billion in loans to keep issuing benefits.
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Economic ‘value impact’ of 1 Million net new jobs
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$50,000,000,000
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Economic Impact of Deferred Jobs Creation
Each month delay in creating and
filling 1 million U.S. jobs defers $50 Billion in annual national economic benefit/value.
Employing 8 million of 16million unemployed wouldadd $400 Billion to nationaleconomy.
$100 Billion Value
Fill 2Million
Jobs
Fill 5Million
Jobs
Fill 10 Million
Jobs
$250 Billion Value
$500 Billion Value
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Job Needs Beginning January 1st, 2010(‘Net New’ Job Needs Per Month/Every Month)
200,000 jobs monthly: to reduce ‘jobs deficit’
100,000 jobs monthly: for ‘workforce’ growth
YE 2010 Total: 3,600,000 ‘Net New’ Jobs
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“Even if the nation could add 2.15 million private-sector jobs per year starting in January 2010, it would need to maintain this pace for more than 7 straight years (7.63 years), or until August 2017, to eliminate the 9.4 million jobs deficit!”
- Advance & Rutgers Report, Sept. 09
By James W. Hughes and Joseph J. Seneca
Edward J. Bloustein School of Planning
& Public Policy
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March 2010 economy added new jobsIncludes 48,000 temporary Census workers.
Note: There were net job losses in January & February!
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162,000
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Stimulus EmploymentThe highest and lowest-cost jobs created under
Economic Stimulus package in last 3 months of 2009(Source – USA Today research)
LOWEST: USDA/121 jobs/$895,619Cost per job $7,382.00
HIGHEST: GSA energy efficient vehicles109 jobs/$104,249,550
Cost per job $959,941.00
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The
Vicious Cycledownward!
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Job losses are causing income losses, which in turn are constraining private demand, reducing tax revenues
and causing higher deficits.
SMITH-TRG
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And then we have . . .
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The United States runs a trade deficit with China that has
exceeded $200 Bannually for the last
five years. . .
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SMITH-TRG
Approximately 4.5 million (second wave)
home foreclosures expected by August
Much anticipated commercial real-estate
loan defaults
& Regional community bank closures
Plus . . .
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“Now is the time for America to doa business growth paradigm shift.A transformative rethink of how it designs, finances, builds and grows market competitive U.S. based businesses.” – Richard D. Smith
SMITH-TRG
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Need a path to a
Future Worldinnovation driven economy
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Sustainable 21ST Century U.S. Job Growth & Wealth
Creation Machines
T I M E T O C R E A T E & BU I L D
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“Innovation has become the new currency of global competition as one country after another races toward a new high ground where the capacity for innovation is viewed as a hallmark of national success.”
- John Kao, book authorINNOVATION NATION, 2007
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Six Policy Keys to achieve sustainable success!
H O W D O W E G E T T H E R E?
SMITH-TRG
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Economic & Industry Policy
Creating a robust economic environment in which innovative activities thrive and
support emerging or re-invented industry development.
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Regional Policy
Help build competitive regions by developing skills and strategic economic growth initiatives that boost and drive
local economic activity.
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Education Policy
Identify skill shortages and training needs for re-skilling or up-skilling and
investing in long-term skill development programs.
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Science & Technology Policy
Support collaborative research involving networks of technology and industry
thought leaders and stimulate the commercialization of resulting research.
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Cyber Security Policy
Support national cyber-security threat protection policies designed to control
electronic fraud and unauthorized enterprise competitive intelligence
collection.
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Intellectual Property Policy
Support intellectual property protection policies, beyond patent & trade-mark, to
protect U.S. commercial assets as national security interests.
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Another ‘Jobs Creation’ Policy YearHas Passed Without ‘IMPACT’ Result
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SUCCESS STILL ACHIEVABLE NEED
COMMITTED STAKEHOLDERS&
FOCUS ON EXECUTION
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Must make sure at the table
Stakeholdersare in it to win it?
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Find out quickly!Need doers not talkers!Spending others money
is easy…Building businesses
and value is challenging!
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going forward . . .
Building ‘Future World’ is all abouta culture that embraces . . .
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SMITH-TRG
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V i s i o n i n g THE FRONT-END OF INNOVATIONC
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graphic source, Vision Quest Board
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Vision,
Mission,
Purpose
& Values
It’s about building & securing your
future!
W H Y I M P O RT A N T T O Y O U?
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I n n o v a t i o nTHE SOURCE OF WEALTH CREATIONC
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We should talk! We have proprietary methodologies for
Identifying high-growth/high-value ‘Future-World’ markets
and strategies for capitalizing on them.
NEED ‘Future-World’ HELP?
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SMITH-TRG
We’re experienced entrepreneurs and
innovators who specialize in value
creation. We assist. . .
CEO’s to create greater
business value
CXO Stakeholders to solve
business performance
problems
Innovators to develop more
successful ‘customer-centric’
propositions
Business Developers to
maximize return on their investments
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Let us assist you today. . . Contact me now to discuss.
WHY SMITH-TRG