Friday, May 31, 2019

R&D is Alive and Well at Chick-fil-A

I love Chick-fil-A. The spicy chicken sandwich is a favorite as is the unsweetened tea.  This post highlights how Chick-fil-A creates new items on the menu. 

Please note how long it takes and the painstaking research company staff do when considering a new menu item.  They look all over for ideas and develop numerous variations of the product. Also, I found it interesting how many tries it takes and at the effort to engage their customers for feedback and critique from a wide cut of the U.S.  R&D is alive and well, at least at Chick-fil-A.  Remember this next time you order food at Chick-fil-A. 

My thanks to Business Insider.  Link the article:

https://www.businessinsider.com/chick-fil-a-new-menu-items-2019-5

Tuesday, May 28, 2019

What We do and Why We do it - II

An earlier post was about why we do what we do.  This is a continuation of that thread.  The link from BI highlighted states losing population and the reasons why. A consistent theme was jobs as the reason.

This link looks at states with increasing population.  Note the common theme - abundant jobs.  These states see a growing economy and increased pressure/demand for services.

What did I say earlier?  An economic developer creates jobs.  Jobs make a local economy grow.

However, this cycle can also present challenges. For example, the labor pool may not match the job skills needed by companies.  This may cause the economic developer to initiate a program of talent recruitment.  You want your existing businesses to stay and grow.  If they cannot find the talent, they may have to expand in other locations.  

An economic developer might work with the technical colleges and universities. In addition, an ED pro might work with local businesses in playing a part of talent recruitment. This can mean highlighting the quality of life and amenities in the region.  

The next time anyone asks you about economic development, just refer them to the previous link and this one.

For an economy losing population, it is job creation. For an economy with a growing population and low unemployment rate, it is talent recruitment.  Jobs - that is why we do what we do.

https://www.businessinsider.com/us-states-people-are-moving-to-2019-5

Why We do What We Do - I

So often in economic development I get asked what exactly do you do.  Which begs a second question, why do you do what you do?

In a nutshell, we diversify the economy, cause capital investment to happen, and create jobs.

Why is this important?  Further down in this post is a link to a BI article on states losing population. Note a running challenge noted for each state - jobs. If you do not have jobs, then you cannot grow.  It is almost as simple as that.  No growth, no additional funds for city and county amenities.  And that is only the beginning.

Economies either grow or decline.  

And in order to continue to grow an economy, it takes consistent work and thought.  How do you support your local industry base? How do you help ensure the workforce is available for today and tomorrow?  Both of these questions can be subdivided into many more.
But it comes down to jobs and capital investment.

https://www.businessinsider.com/the-top-10-states-people-are-moving-out-of-us-2019-5