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economic change

The combined processes of enterprise and economic development account for empirical growth of economies. When places seeking economic development celebrate expansions of existing enterprises or location decisions that are a part of the site selection process they announce change. A relocation announcement may be celebrated in one place, but bemoaned in another. The loser doesn't experiences economic development but there is economic change.

Definitions of economic development rely on operative words such as community and wealth as well as jobs creation to make their points about how change affects locations. The source of the quote a .network glossary definition of economic change.

Economist, Douglass C. North, authored Understanding the Process of Economic Change. A brief synopsis of North's work states that change depends on adaptive efficiency ... a society's effectiveness in creating institutions that are productive, stable, fair, and broadly accepted -- and, importantly, flexible enough to be changed or replaced in response to political and economic feedback (source of quote).

A definition of innovation economics at Ingenesist.com has comments about economic growth that add productive efficiency to adaptive efficiency: The major drivers of economic growth are productive efficiency and adaptive efficiency (source of quote).

A book titled, The Contribution of Joseph Schumpeter to Economics: Economic Development and Institutional Change, indicates that economist, Joseph Schumpeter, first using the expression, economic development: (The Theory of Economic Development / 1911). The title raises the question of the whether institutions fresh from innovation contribute to substantial economic development success more so than those of long standing. institutions. Schumpeter had something to say about change that seems to relate to the question. The following quote is from a Wikipedia article titled Innovation economics (links retained from the article and Wikipedia website):

(Schumpeter) ... is the patron saint of innovation economics, especially with his classic 1942 book Capitalism, Socialism and Democracy. Writing around the same time as Keynes, Schumpeter had a decidedly different take on the economy and on economics. For Schumpeter it was evolving institutions, entrepreneurs, and technological change that were at the heart of economic growth. He argued that creative destruction is crucial in capitalism (source of quote).

Politics, political institutions, and economic development are inseparable. Also, all three are inseparable from manipulation of economic change. A consultant once observed that the best economic development practitioners are skilled political players. Following are a search engine and a few suggested search terms that you can copy and paste in order to learn more from the Web about change, growth, development, and political institutions.

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www.superfactory.com (super factory)

The Superfactory website was introduced online at the same time as The Network (1997) and caught our (who we are) attention as an enterprise and economic development resource. It's dedication to ... spreading manufacturing and enterprise excellence information with an aim to improve manufacturing efficiency and productivity worldwide (source of quote) was a factor in prompting introduction of the .network glossary. See the glossary definition of business excellence.

The enterprise behind the Superfactory website, Factory Strategies Group LLC, Morro Bay, CA is listed among resource and service providers in the GRC database.

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business intelligence

See the definition of business intelligence in the Enterprise and Economic Development Glossary. The definition has a link to a Wikipedia article about market intelligence which states that it is ... occasionally called business intelligence. Also, the definition has a link to information about competitive intelligence (data gathered, collated, and analyzed so that business decision makers can make plans and position their operations to gain market share or squelch plans, advances, or positions of competitors).

Smart enterprise development requires that decision makers have data about markets and the challenges from competitors they face. They need reliable enterprise development intelligence in order to make good decisions about the logistics for organizing and carrying out projects. Here is an example of intelligence information that is useful for both business development and enterprise development decision making:

Projects in Print provides ... market intelligence resources for the design and construction industry. We represent clients in construction, architecture and engineering firms (source of quote). The website is maintained by Betty Hearn, Atlanta, GA, listed in the .network GRC among resource and service providers engaged in enterprise and economic development. The states covered by Projects in Print are Alabama, Georgia, North Carolina, South Carolina, Tennessee and Florida.

A white paper titled Using Market Intelligence & Competitive Intelligence To Add Value To Your Business published at B2B International.com states that market intelligence is ... often mistaken for a mysterious art requiring high-level detective work. The quote emphasizes that business decision makers, especially those who are engaged in enterprise development, should give serious consideration to protecting things confidential when it comes to handling intelligence--loose lips sink ships.

Business and industrial espionage is real and risk is everywhere. Risk management is part of the job for smart decision makers. Managing the process of searching for a location to start up a business venture or to expand the facilities of an existing enterprise, or to relocate operations of an enterprise, means being involved in calculating risk. The typical business site selection project is one of ga thing location data, including information about real estate, analyzing it, and making risky choices while, at the same time, taking care to not let sensitive business and enterprise development intelligence fall into the wrong hands.

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products and services

On the one hand, the expression might seem to have the same meaning as product, which is defined by Dictionary.com as ... the totality of goods or services that a company makes available (source of quote). Consider, for example, the output of organizations as agencies representing places seeking economic development. Their products are locations which first were products of the ... people living, working, and sharing things in common (making them communities). Such agencies market locations to enterprise and economic development prospects. The agencies also provide products and services to them. In that context, products are information resources, for example, location data of use to enterprise developers. Services are offered to business decision makers with an aim to convert opportunities to economic development realities.

On the other hand, the word products in the expression products and services can be taken to mean ... a broader category of goods. The economic meaning of product was first used by political economist Adam Smith (source of quote). In other words, the expression implies the same meaning as that of the definition of goods and services.

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