Economic Development Blog

Philanthropic Giving: Lessons from Pittsburgh Coming to Kentucky

9/7/2010 12:28:39 PM  -  0 Comments
 

 The 2010 Leadership Expedition trip to Pittsburgh uncovered many key factors for successful, thriving hubs of innovation and activity. One area the GLI/Commerce Lexington group explored was the impact of philanthropic giving, which has been a theme studied at several past GLIDE trip locations as well.

Philanthropy and a rich culture of philanthropic organizations is one way communities create rich quality of life for their residents. In today’s Courier-Journal, an interesting article discusses Kentucky’s philanthropic potential. A recent study from Center for Rural Entrepreneurship estimates that $3.6 billion is charitable giving is available if philanthropies succeeded in capturing just five percent of the wealth expected to shift generations by 2020.

Strategy – Now That You’ve Developed It, Execute It!

9/7/2010 12:15:12 PM  -  2 Comments
 

 David Oetken, Director of Business Advising for GLI’s ENTERPRISECORP, shares his insights on corporate strategies below. As one Harvard Business Review article notes, “A brilliant strategy, blockbuster product or breakthrough technology can put you on the competitive map, but only solid execution can keep you there.”

As market conditions quickly change, any company that can rapidly “triage” its strategy and adapt to new conditions will have a huge competitive advantage. Worldwide, strategic planning has become the business norm. However, in a recent survey, chief executives of corporations identified excellence in execution as their top challenge (55.4%), as well as the alignment between strategy and execution (47.0%), and speed, flexibility and adaptability to change (46.6%). Clearly, CEO’s are recognizing that developing a good strategy is far easier than executing that strategy. 

The Fed Says Regional Economy Improving

8/6/2010 09:22:00 AM  -  0 Comments
 

The Federal Reserve Bank's St. Louis District, which includes Louisville, is reporting that economic conditions are improving throughout the region. In a report released last week, the Fed showed activity has increased in the manufacturing and service sectors. However, the report also showed that commercial and industrial real estate markets remain weak, and overall bank lending activity decreased from early April to late June.