Why diversity and inclusion matter

Sunday, January 11, 2004

Here's a dose of evolving economic development theory.

We've entered a new era in our economic history. We are evolving toward a new form of capitalism. We are moving from industrial capitalism to network capitalism.

Hierarchies are giving way to networks. Value comes not in the control of resources. Value comes in the management of relationships. Value chains are giving way to value networks.

In this new environment, business leadership models for economic development are also changing. In practical terms, it is no longer possible for business groups to dictate regional agendas. They must consult more broadly with a range of other interests.

As we move to more network-based approaches to economic development, diversity and inclusion become critically important. Open networks can move faster and manage risks better than closed systems.

Valdis Krebs, an expert in social networks, has passed along this article that makes the point. Read more.

(REI@Weatherhead is working with Valdis to apply his social networking software to economic development strategy. Learn more about Valdis and his Inflow software. If you are interested in working with us on this project e-mail me.)

posted by Ed Morrison |

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