4 Management Questions And Answers

Questions:

 

  1. You have just become the director of the Institute for Economic Development and Entrepreneurship which is an outreach program for the local regional university. The university is located in a city with a population of 120,000 and is surrounded by rural farm and ranch land.  There are several small communities in the area ranging from a population of a few hundred to 10,000. The small communities serve primarily as shopping and medical centers for the immediate surrounding areas. There is limited economic activity other than agriculture in the rural areas. The city where the university is located has a small but growing industrial and manufacturing base and is the shopping and medical center for the region.  Your first task as director is to develop a program to encourage entrepreneurship especially in the rural areas.
    1. Outline the basics of your program and explain why each part of the program is important.
    2. In addition, list some possible resources you could use to help with your program.

 

  1. In the first two to three years of its existence, your program encouraging entrepreneurship (outlined in question 1), which is a program focused primarily on individual entrepreneurial endeavors, has not created competition and controversy among regional leaders or communities, but the potential for disagreement lies just beneath the surface. For example, the retail economic expansion of the city where your university is located is taking customers away from the outlying rural shopping competition.  In addition, the region’s water supply is being stretched thin.  You sense that it is time to build a regional vision for economic development.  At the moment, there is little consensus among community leaders about need for such a regional program, but, hopefully, everyone will endorse it when it has been developed.

 

  1. Define your role, or possible roles, in developing such a regional vision,
  2. outline and justify the steps you will take to establish a regional vision,
  3. and, suggests possible resources and how you might use them (this asking about where you may go for help).

 

  1. It has been several years since you proposed and implemented your plan to encourage entrepreneurship (question 1) and it has been successful. The small industrial and manufacturing firms in the city have grown and several new entrepreneurial firms have sprung up in the rural areas.  There have been rumors, however, that one of the manufacturing firms is considering relocating to a major city.  It would mean the loss of 800 jobs.  One of the rural firms has also announced that it is moving to the city where your university is located.  While the jobs will not leave the region, it will mean that the smaller community will lose about 20 jobs.  Small communities losing business to larger communities appears to be a pattern throughout the region.  As director of the institute, you have decided that the region needs a comprehensive business retention and expansion (BR&E) plan.

 

  1. Outline the basics of your business retention and expansion plan and explain why each part of the plan is necessary.
  2. List some possible resources that you could employ to help you with your plan.

 

  1. In its first couple of years, BR&E plan seems to be working effectively. The manufacturing firm, and its 800 jobs, has remained in your city.  The rural firm moved to your city; however, and the small community it moved from has enthusiastically embraced becoming a “Slow City;” in fact, it has begun enlisting several other small communities in your region to take the same path.  A delegation of leaders from these small communities has asked to meet with you to discuss the possibility of you helping them to develop as “Slow Cities” (with “Slow Food”). To prepare for this meeting,

 

  1. do a preliminary SWOT analysis (the basic strengths, weaknesses, opportunities, threats, and interconnections you see) of becoming a Slow City,
  2. make a list of half a dozen questions (or so) that you feel you should ask the leaders when they arrive,
  3. and (barring any surprises you might find in their answers to your questions) discuss your basic recommendation about becoming a Slow City (hint look at your SWOT for help). PS – In addition to the links provided, by Googling “Slow City” and “Slow Food” you can find additional information about the Slow Movement.