Developing the Economy
A recent report from The National Endowment for Science, Technology and the Arts (NESTA) stated that the social, economic, financial and business networks that make up our society must develop to become less prone to crisis and more able to sustain growth.
Economic and financial policymaking has already had to become more networked and coordinated in response to the current recession. Effective responses to the recession will depend on more effective global coordination of financial regulation.
Businesses are likely to respond to the recession by developing more intelligently networked forms of organisation, accelerating shifts towards more open, netwoked approaches to corporate innovation.
The regions and cities that respond to the recession most effectively will have strong regional alliances that pull together the public and private sectors, social innovators, universities and colleges. To succeed, regions will need outward looking, internationally connected and entrepreneurial networks, to spot new opportunities, investors and partners.
Networks will also matter for individuals. The people most likely to be able to find work again after a period of unemployment will have social networks that keep them in touch with employment opportunities. People will be more likely to search for work and to start their own micro businesses if they have mutual support from peers and mentors.
Recession creates an innovation challenge for public services that will require more devolved, networked approaches to deliver services more effectively at lower cost. Many of the most effective social responses to recession will come from networks of social and civic entrepreneurs.
This is the global economic market place in which Enterprising Scotland works and develops companies, organisations and individuals!