Path to Innovation Driven Economy, by Richard D. Smith, SMITH-TRG

transcript

SMITH-TRG

The path to a

Future Worldinnovation driven economy

By: Richard D. SmithPresident & CEORDSmith@SMITH-TRG.com

SMITH-TRG

My name is Richard D. Smith and I am President

& Managing Principal at SMITH-TRG a business

performance improvement and value creation

consulting firm.

Since February 2008 I have also spearheaded

the U.S. Road to Recovery Project - a private

sector initiative to help others nation-wide create

sustainable jobs across industries, sectors,

segments and product lines.

In October, 2009 I authored and published the

U.S. Jobs Creation Plan, 2 million net new jobs

for American citizens in 12 months. Presentation

available to view at www.weSRCH.com under

author Richard Smith.

Today’s presentation reflects lessons learned

and outlines why and how today’s America can

create and build sustainable U.S. job growth &

wealth creation machines for the 21st Century.Richard D. Smith, CEO

W H E R E A M E R I C A S T A N D S

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U.S. National Debt as of 4/2/2010

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$12,725,277,600,615

National Debt per citizen

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$41,183.00

$115,945.00National Debt per tax payer

Average American Income

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$39,446.00

US citizens unemployed/underemployed

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26,350,699 or 17%

Feb/2010 long-term unemployed, nearly double 2009(40% of U. S. jobless are long-term/un-used intellectual capital)

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Over 6 Million

March/2010 jobless rate for 16 to 29 year olds(Highest rate since 1948, per Bureau of Labor Statistics)

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The nation's jobless toll is draining unemployment-compensation funds so fast that, according to federal projections, 40 state programs

will go broke by 2011 and need $90 billion in loans to keep issuing benefits.

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Economic ‘value impact’ of 1 Million net new jobs

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$50,000,000,000

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Economic Impact of Deferred Jobs Creation

Each month delay in creating and

filling 1 million U.S. jobs defers $50 Billion in annual national economic benefit/value.

Employing 8 million of 16million unemployed wouldadd $400 Billion to nationaleconomy.

$100 Billion Value

Fill 2Million

Fill 5Million

Fill 10 Million

$250 Billion Value

$500 Billion Value

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Job Needs Beginning January 1st, 2010(‘Net New’ Job Needs Per Month/Every Month)

200,000 jobs monthly: to reduce ‘jobs deficit’

100,000 jobs monthly: for ‘workforce’ growth

YE 2010 Total: 3,600,000 ‘Net New’ Jobs

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“Even if the nation could add 2.15 million private-sector jobs per year starting in January 2010, it would need to maintain this pace for more than 7 straight years (7.63 years), or until August 2017, to eliminate the 9.4 million jobs deficit!”

- Advance & Rutgers Report, Sept. 09

By James W. Hughes and Joseph J. Seneca

Edward J. Bloustein School of Planning

& Public Policy

March 2010 economy added new jobsIncludes 48,000 temporary Census workers.

Note: There were net job losses in January & February!

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162,000

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Stimulus EmploymentThe highest and lowest-cost jobs created under

Economic Stimulus package in last 3 months of 2009(Source – USA Today research)

LOWEST: USDA/121 jobs/$895,619Cost per job $7,382.00

HIGHEST: GSA energy efficient vehicles109 jobs/$104,249,550

Cost per job $959,941.00

Vicious Cycledownward!

Job losses are causing income losses, which in turn are constraining private demand, reducing tax revenues

and causing higher deficits.

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And then we have . . .

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The United States runs a trade deficit with China that has

exceeded $200 Bannually for the last

five years. . .

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Approximately 4.5 million (second wave)

home foreclosures expected by August

Much anticipated commercial real-estate

loan defaults

& Regional community bank closures

Plus . . .

“Now is the time for America to doa business growth paradigm shift.A transformative rethink of how it designs, finances, builds and grows market competitive U.S. based businesses.” – Richard D. Smith

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Need a path to a

Future Worldinnovation driven economy

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Sustainable 21ST Century U.S. Job Growth & Wealth

Creation Machines

T I M E T O C R E A T E & BU I L D

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“Innovation has become the new currency of global competition as one country after another races toward a new high ground where the capacity for innovation is viewed as a hallmark of national success.”

- John Kao, book authorINNOVATION NATION, 2007

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Six Policy Keys to achieve sustainable success!

H O W D O W E G E T T H E R E?

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Economic & Industry Policy

Creating a robust economic environment in which innovative activities thrive and

support emerging or re-invented industry development.

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Regional Policy

Help build competitive regions by developing skills and strategic economic growth initiatives that boost and drive

local economic activity.

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Education Policy

Identify skill shortages and training needs for re-skilling or up-skilling and

investing in long-term skill development programs.

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Science & Technology Policy

Support collaborative research involving networks of technology and industry

thought leaders and stimulate the commercialization of resulting research.

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Cyber Security Policy

Support national cyber-security threat protection policies designed to control

electronic fraud and unauthorized enterprise competitive intelligence

collection.

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Intellectual Property Policy

Support intellectual property protection policies, beyond patent & trade-mark, to

protect U.S. commercial assets as national security interests.

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Another ‘Jobs Creation’ Policy YearHas Passed Without ‘IMPACT’ Result

SUCCESS STILL ACHIEVABLE NEED

COMMITTED STAKEHOLDERS&

FOCUS ON EXECUTION

Must make sure at the table

Stakeholdersare in it to win it?

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Find out quickly!Need doers not talkers!Spending others money

is easy…Building businesses

and value is challenging!

going forward . . .

Building ‘Future World’ is all abouta culture that embraces . . .

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V i s i o n i n g THE FRONT-END OF INNOVATIONC

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graphic source, Vision Quest Board

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Vision,

Mission,

Purpose

& Values

It’s about building & securing your

future!

W H Y I M P O RT A N T T O Y O U?

I n n o v a t i o nTHE SOURCE OF WEALTH CREATIONC

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We should talk! We have proprietary methodologies for

Identifying high-growth/high-value ‘Future-World’ markets

and strategies for capitalizing on them.

NEED ‘Future-World’ HELP?

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We’re experienced entrepreneurs and

innovators who specialize in value

creation. We assist. . .

CEO’s to create greater

business value

CXO Stakeholders to solve

business performance

problems

Innovators to develop more

successful ‘customer-centric’

propositions

Business Developers to

maximize return on their investments

Let us assist you today. . . Contact me now to discuss.

WHY SMITH-TRG

Richard D. SmithRDSmith@SMITH-TRG.com

SMITH-TRG

Path to Innovation Driven Economy, by Richard D. Smith, SMITH-TRG

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