Back to Basics

Musings - published on

It may seem elementary, but perhaps we need to say it: Yes, data is important. And so are basic business practices.

Both help us understand where and how we are strategically, and help us implement our daily business effectively at a tactical level. Every single day, businesses are looking at communities, gauging reputations of talent pipelines and supply chains, judging entrepreneurial culture… often before a single call or email is gifted to an economic development practitioner. In a world when many public and public-private entities are facing increased public scrutiny, a solid portfolio and data management system can also demonstrate ROI – or at least alignment of practices to strategy, and progress toward goals.

This piece discusses criticism over a failure to implement and maintain basic business practices, project management, and data. We repeatedly hear “customer service” referred to as a key priority for incumbent businesses as well as companies considering relocation when leaders of those firms are asked for factors that impact decisions to stay, grow, or move. If you’re part of an economic or workforce development team, or a leader in a community collaborative system who understands the importance of internal knowledge and diligent follow-through, you understand the dangers of stale or broken data and customer service systems.

Link to article here.
Providence Fails to Track Economic Development Opportunities
February 6, 2015
Kate Nagle