The document outlines 3 keys to economic development: 1) Collaboration is the new competition, requiring relational, intercultural, and cultural humility skills; 2) Teach collaborative leadership competencies; 3) Go beyond comfort zones through innovation that creates discomfort but also fun, using metrics like growth agreements with competitors and investments in transformative technology generating new revenue. When collaborative leadership, intercultural education, and innovation leadership combine, it leads to social and economic well-being.

1. 3 Keys to
Economic
Development
Stan Chung, PhD
VP Academic and Applied Research

2. ECONOMIC DEVELOPMENT IS A
FUNCTION OF HUMAN WELL-BEING.
IMPROVEMENTS IN WELL-BEING
REQUIRE NEW FORMS OF LEADERSHIP.
“It took me twenty years to realize that I wasn’t in mining: I was in community
development.” Senior Mining Executive

3. KEY 1:
COLLABORATION
IS THE NEW
COMPETITION

4. 4
Collaborative Leadership Competencies
Bronze: personal
collaboration
(relational skills)
Gold:
community
collaboration
(cultural
humility skills)
Silver: team
collaboration
(intercultural
skills)

5. KEY 2: TEACH
COLLABORATIVE
LEADERSHIP

6. KEY 3: Beyond Comfort Zone: Innovation as
Leadership
Innovation Drives Fun
• Innovation creates
discomfort and
excitement.
• Status quo thinking can
mean a quiet personal
tragedy.
• New markets, new
technology, and new
relationships create
discomfort and fun.

7. 7
Innovation Metrics
bronze
% growth in
agreements signed
with former
competitors or
allied organizations.
silver
% of annual budget
of r/d investments
in technology that
drive business
model
transformation.
gold
% new revenue as a
product of
innovation through
technology.

8. • Best place to do
business
• Best place to walk
downtown
• Best services for
seniors
• Best housing
affordability
• Best place to age in
place
8
Place-Based TARGETS for Innovation

9. COLLABORATIVE LEADERSHIP
+
INTERCULTURAL EDUCATION
+
INNOVATION LEADERSHIP
=
SOCIAL AND ECONOMIC WELL-BEING

10. Thank you!
schung@cotr.bc.ca
stanchung@gmail.com
• Questions?