Monday, February 07, 2005

What's Key to Driving Economic Development in a Region?

A lot of factors contribute to economic growth.

However, when you have an overlap of 3 factors -- an educated workforce, investment capital, and networking opportunities -- the rate of business activity is greatly acclerated.

Business historian and Working Solo leader Terri Lonier labels these three factors as:

  1. Human capital
  2. Financial capital
  3. Intellectual capital

and introduced me to the term she coined to represent this confluence as the nexus of capital.

I've found it to be a very useful term.

Consder the following questions:
  • How is your nexus of capital doing in your company and in your community?
  • What can be done to improve these factors?
  • Who stands to gain?
  • Whose cooperation, support, and influence would be beneficial?
  • How could you start today?
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