Partnerships in the Triad

Tuesday, May 10, 2005

The Triad region of North Carolina has gotten its act together. The building networks of trust and collaboration are opening still more opportunities for collaboration. Read more.

The old models of economic development focused on lowering the costs of doing business and recruiting manufacturing plants. Globalization -- the integration of international markets -- has weakened this approach. Free land is widely available. Technology moves easily across national borders, and capital flies around the globe at the click of a mouse.

Now wealth comes from brainpower, innovation and entrepreneurial networks. Networked organizations have weakened organizational hierarchies. Open systems of innovation are replacing closed "command and control" approaches to business development.

Regions that manage this shift can build dynamic clusters of new businesses. Regions caught in closed sytem thinking will continue their downward drift.

posted by Ed Morrison |

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