The Challenge
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How might we restore vibrancy in cities and regions facing economic decline?
Concept
The Sweet Spot of Economic Development
Vibrancy is strongly connected to diverse income generation potential within communities. One way of identifying income generation opportunities is through finding the Sweet Spot of Economic Development through a Hear, Create, Deliver (HCD) approach. The Concept follows a Hear, Create, Deliver (HCD) process and gives a starting point through which to enhance existing methods of income generation and introduce new ones.Scenario: A community is facing unemployment in the youth between 18-30 years of age which is causing a lack of motivation, vibrancy, creativity and activism
Using the Sweet Spot model, we would first target the "Will & Skill" segment and go through a series of dialogues with the youth community. What kind of skills and interests do they have? Does this community have a certain knack or aptitude in something? Are there any gaps that need to be filled? For e.g. maybe a lot of youth in the area is interested in contributing to the hi-tech industry but not sure how.
Secondly, we would look at local Market Dynamics. Is there any local industry around that is facing gaps? What are the competitive and resource advantages of the local region? We might find that there are Technology companies in need of highly skilled technicians and are having to source them from outside the region at high rates.
Lastly, we have to look within. What kind of resources do we have as an institution or project, to mitigate these gaps. Does funding have to be raised? Can resources be mixed and matched in order to create value? We might find that a Skill Centre can be lobbied to open up a branch in the locality and money can be raised for scholarships.
Simply by Hearing, Creating, and Delivering (HCD) and finding The Sweet Spot, market linkages can be made to spark economic activity, and restore vibrancy.
What resources (money, time, people, technology, etc) will your concept need to be successful?
The Concept requires assessments at three levels:
- Community based assessments to evaluate 'Will & Skill'
- Market dynamics assessments to evaluate demand for goods and services
- Internal feasibilities to assess available resources (funding, man power etc.) to implement strategies and programs
Funding, manpower and knowledge capital will be needed for all of the above.
- Community based assessments to evaluate 'Will & Skill'
- Market dynamics assessments to evaluate demand for goods and services
- Internal feasibilities to assess available resources (funding, man power etc.) to implement strategies and programs
Funding, manpower and knowledge capital will be needed for all of the above.
How can your idea be scaled so that it's implemented in cities around the world?
The methodology is simple. Know your community, know your markets and know your resources. The process is easily scalable.
Comments
December 07, 2011, 08:41AM
Majid Mirza's reply to Didi Quimpo's comment
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December 09, 2011, 07:22PM
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December 10, 2011, 02:56PM
December 06, 2011, 08:58PM
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December 07, 2011, 01:23AM
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December 07, 2011, 05:05AM
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December 07, 2011, 04:59PM
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December 07, 2011, 05:06PM

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