'Economy Will Recover' says Guest Speaker, Vicere
Albert Vicere, Executive Education professor of Strategic Leadership from the Penn State's Smeal College of Business, said economic recovery is in America's future during a recent presentation at Penn State DuBois. A number of area business leaders attended the lecture.
His presentation, "Strategic leadership: Navigating the Economic Tempest" took a global perspective, accounting for current and projected shifts in population and Gross Domestic Product; and provided insight on what is happening in the United States.
Vicere proposed the U.S. is over half way through the bottom of the recession but, will still have a bumpy ride for a couple of years.
Despite the economic slowdown, Vicere said, the U.S. still leads the world in innovation. He said times like this are often great times to start a business, especially one dealing with innovative products or services.
Vicere noted that a refocus of innovation is needed in order for organizations to be effective in today’s global marketplace. The traditional models of organization and control will be transformed by networking and relationships partly as a result of the explosion of information technology. He also noted that companies have run out of ways to cut cost, and need to find ways to grow. He suggested establishing anchors for continued innovation. He said, "Share your vision with your team, focus on the customer, look to develop new products, seek new customer segments, identify new geographic markets, acknowledge new competitors, encourage and reward employees for innovation, form alliances and networking with stakeholders."
Vicere's appearance on campus was funded, in part, by a grant from the Commonwealth of Pennsylvania, Department of Community and Economic Development, Ben Franklin Technology Development Authority; and regional partnerships with Penn State DuBois and the Office of Technology Transfer, North Central Regional Planning and Development Commission, North West Industrial Resource Center, Clarion University Small Business Center, The Greater DuBois Area Chamber of Commerce, Jefferson County Department of Development, and the Clearfield County Economic Development Corporation.