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

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Why and how today\'s America can create and build job growth and wealth creation machines for 21st Century \'Future World\'. Path to innovation driven economy by Richard D. Smith, SMITH-TRG CEO.

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

  1. 1. Copyright 2010 SMITH-TRG, All rights reserved. The path to a Future World innovation driven economy By: Richard D. Smith President & CEO RDSmith@SMITH-TRG.com SMITH-TRG
  2. 2. My name is Richard D. Smith and I am President & Managing Principal at SMITH-TRG a business performance improvement and value creation consulting firm. Copyright 2010 SMITH-TRG, All rights reserved. Copyright 2010 SMITH-TRG, All rights reserved. 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 SMITH-TRG
  3. 3. Copyright 2010 SMITH-TRG, All rights reserved. WHERE STANDS AMERICA SMITH-TRG
  4. 4. Copyright 2010 SMITH-TRG, All rights reserved. SMITH-TRG $12,725,277,600,615 U.S. National Debt as of 4/2/2010
  5. 5. SMITH-TRG $115,945.00 Copyright 2010 SMITH-TRG, All rights reserved. National Debt per tax payer $41,183.00 National Debt per citizen
  6. 6. Copyright 2010 SMITH-TRG, All rights reserved. $39,446.00 Average American Income SMITH-TRG
  7. 7. Copyright 2010 SMITH-TRG, All rights reserved. SMITH-TRG 26,350,699 or 17% US citizens unemployed/underemployed
  8. 8. Copyright 2010 SMITH-TRG, All rights reserved. SMITH-TRG Over 6 Million Feb/2010 long-term unemployed, nearly double 2009 (40% of U. S. jobless are long-term/un-used intellectual capital)
  9. 9. Copyright 2010 SMITH-TRG, All rights reserved. SMITH-TRG 15.2% March/2010 jobless rate for 16 to 29 year olds (Highest rate since 1948, per Bureau of Labor Statistics)
  10. 10. Copyright 2010 SMITH-TRG, All rights reserved. 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. SMITH-TRG
  11. 11. Copyright 2010 SMITH-TRG, All rights reserved. SMITH-TRG $50,000,000,000 Economic ‘value impact’ of 1 Million net new jobs
  12. 12. SMITH-TRG Economic Impact of Deferred Jobs Creation Copyright 2010 SMITH-TRG, All rights reserved. Fill 10 Each month delay in creating and Million filling 1 million U.S. jobs defers Jobs $50 Billion in annual national economic benefit/value. Fill 5 Million $500 Billion Value Jobs Fill 2 Million $250 Billion Value Jobs Employing 8 million of 16 million unemployed would add $400 Billion to national $100 Billion Value economy.
  13. 13. SMITH-TRG Job Needs Beginning January 1st, 2010 (‘Net New’ Job Needs Per Month/Every Month) Copyright 2010 SMITH-TRG, All rights reserved. 200,000 jobs monthly: to reduce ‘jobs deficit’ 100,000 jobs monthly: for ‘workforce’ growth YE 2010 Total: 3,600,000 ‘Net New’ Jobs
  14. 14. SMITH-TRG “Even if the nation could add 2.15 million private-sector jobs per year Copyright 2010 SMITH-TRG, All rights reserved. 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
  15. 15. Copyright 2010 SMITH-TRG, All rights reserved. SMITH-TRG 162,000 new jobs March 2010 economy added Includes 48,000 temporary Census workers. Note: There were net job losses in January & February!
  16. 16. SMITH-TRG Stimulus Employment The highest and lowest-cost jobs created under Copyright 2010 SMITH-TRG, All rights reserved. Economic Stimulus package in last 3 months of 2009 (Source – USA Today research) LOWEST: USDA/121 jobs/$895,619 Cost per job $7,382.00 HIGHEST: GSA energy efficient vehicles 109 jobs/$104,249,550 Cost per job $959,941.00
  17. 17. SMITH-TRG The Copyright 2010 SMITH-TRG, All rights reserved. Vicious Cycle downward! Job losses are causing income losses, which in turn are constraining private demand, reducing tax revenues and causing higher deficits.
  18. 18. SMITH-TRG And then we have . . . Copyright 2010 SMITH-TRG, All rights reserved. The United States runs a trade deficit with China that has exceeded $200 B annually for the last five years. . .
  19. 19. SMITH-TRG Plus . . . Approximately 4.5 Copyright 2010 SMITH-TRG, All rights reserved. million (second wave) home foreclosures expected by August Much anticipated commercial real-estate loan defaults & Regional community bank closures
  20. 20. Copyright 2010 SMITH-TRG, All rights reserved. “Now is the time for America to do a business growth paradigm shift. A transformative rethink of how it designs, finances, builds and grows market competitive U.S. based businesses.” – Richard D. Smith SMITH-TRG
  21. 21. Copyright 2010 SMITH-TRG, All rights reserved. SMITH-TRG Need a path to a Future World innovation driven economy
  22. 22. T I M E T O C R E A T E & BU I L D Copyright 2010 SMITH-TRG, All rights reserved. Sustainable 21ST Century U.S. Job Growth & Wealth Creation Machines SMITH-TRG
  23. 23. Copyright 2010 SMITH-TRG, All rights reserved. “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 author INNOVATION NATION, 2007 SMITH-TRG
  24. 24. SMITH-TRG H O W D O W E G E T T H E R E? Copyright 2010 SMITH-TRG, All rights reserved. Six Policy Keys to achieve sustainable success!
  25. 25. SMITH-TRG Economic & Industry Policy Copyright 2010 SMITH-TRG, All rights reserved. Creating a robust economic environment in which innovative activities thrive and support emerging or re-invented industry development.
  26. 26. SMITH-TRG Regional Policy Copyright 2010 SMITH-TRG, All rights reserved. Help build competitive regions by developing skills and strategic economic growth initiatives that boost and drive local economic activity.
  27. 27. SMITH-TRG Education Policy Copyright 2010 SMITH-TRG, All rights reserved. Identify skill shortages and training needs for re-skilling or up-skilling and investing in long-term skill development programs.
  28. 28. SMITH-TRG Science & Technology Policy Copyright 2010 SMITH-TRG, All rights reserved. Support collaborative research involving networks of technology and industry thought leaders and stimulate the commercialization of resulting research.
  29. 29. SMITH-TRG Cyber Security Policy Copyright 2010 SMITH-TRG, All rights reserved. Support national cyber-security threat protection policies designed to control electronic fraud and unauthorized enterprise competitive intelligence collection.
  30. 30. SMITH-TRG Intellectual Property Policy Copyright 2010 SMITH-TRG, All rights reserved. Support intellectual property protection policies, beyond patent & trade-mark, to protect U.S. commercial assets as national security interests.
  31. 31. SMITH-TRG Another ‘Jobs Creation’ Policy Year Has Passed Without ‘IMPACT’ Result Copyright 2010 SMITH-TRG, All rights reserved. SUCCESS STILL ACHIEVABLE NEED COMMITTED STAKEHOLDERS & FOCUS ON EXECUTION
  32. 32. Must make sure at the table Stakeholders are in it to win it? Copyright 2010 SMITH-TRG, All rights reserved. Find out quickly! Need doers not talkers! Spending others money is easy… Building businesses and value is challenging! SMITH-TRG
  33. 33. Copyright 2010 SMITH-TRG, All rights reserved. SMITH-TRG going forward . . . Building ‘Future World’ is all about a culture that embraces . . .
  34. 34. Copyright 2010 SMITH-TRG, All rights reserved. SMITH-TRG Visioning THE FRONT-END OF INNOVATION graphic source, Vision Quest Board
  35. 35. W H Y I M P O RT A N T T O Y O U? It’s about building & securing your Copyright 2010 SMITH-TRG, All rights reserved. future! SMITH-TRG Vision, Mission, Purpose & Values
  36. 36. Copyright 2010 SMITH-TRG, All rights reserved. SMITH-TRG Innovation THE SOURCE OF WEALTH CREATION
  37. 37. SMITH-TRG NEED ‘Future-World’ HELP? Copyright 2010 SMITH-TRG, All rights reserved. We should talk! We have proprietary methodologies for Identifying high-growth/high-value ‘Future-World’ markets and strategies for capitalizing on them.
  38. 38. SMITH-TRG WHY SMITH-TRG We’re experienced entrepreneurs and Copyright 2010 SMITH-TRG, All rights reserved. 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.
  39. 39. Copyright 2010 SMITH-TRG, All rights reserved. Richard D. Smith RDSmith@SMITH-TRG.com SMITH-TRG

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