Michael Porter: "Reshaping Regional Economic Development: Clusters and Regional Strategy"

On September 29, 2014, Professor Michael Porter delivered a keynote speech at Mapping the Midwest's Future, a conference held in Minneapolis and hosted by the University of Minnesota that officially launched the new U.S. Cluster Mapping tool. His presentation focused on U.S. competitiveness and cluster-based economic development, to reshape the approach to economic development in the U.S. based on a deeper understanding of the drivers of competitiveness in the modern global economy.

[@bmbmbm1]

Time Stamps
10:11 The challenge
20:00 Prevailing approaches
26:16 Towards a new economic development model
31:52 What is competitiveness?
35:32 Regions are essential economic units for competitiveness
38:31 What determines competitiveness?
42:42 Improving the quality of the business environment
43:26 The composition of regional economics
52:59 Related clusters and economic diversification
58:42 Developing a regional economic strategy

[@tinayeboahasare]

Thank you Mr. Porter. This was very insightful

[@MrYasin145]

Thank you so much for this lecture. You are really super development strategist. I work with an economic development committee namely, National Economic Development Committee (NPC). Currently, the Committee is working on their third country strategy known as "National Development Plan (NDP)".
This lecture tough me why the previous NDPs failed to bring tangible results. I will share the concepts in this cluster based approach. It is a prevailing economic development approach.

[@rizalukman7982]

Thank you Mr Michael Porter I learned a lot of thing about Porter's five forces when I study business in Australia

[@annemiekeroobeek9936]

One of the best lectures on clusters and their importance for regional economic development by the Master himself.

[@NOLAVibeLLCNewOrleans]

We've watched this three times to fully absorb the content. We are now sharing this with regional and state economic and social leaders. Our firm is working on a regional water asset study to build strategies based upon our strengths (and challenges), and are using (and updating) the cluster mapping tool and your data to change the model in Louisiana. No more Big Game Hunting, Next Big Thing, or Build It and They Will Come for us. Many thanks!

[@elainegizler8306]

This content is inspiring, thank you Mr. Porter.

[@jamesmichaelwalker683]

Cluster-oriented initiatives and programs! so lovely to boost the price-based and quality-based competitive advantage of our export-oriented economy!

[@barrycrupi772]

The man is a genius.

[@ewilli2000]

I founded a nonprofit organization in my community to promote economic development through a racial equity lens and this video is so helpful!!

[@andrisklepers7795]

This is so essential to argue about regions driven by clusters and cross-industry specialization! Some of the national level policies are too much concentrated to the framed industry segments. Thanks, Grand Master for great lecture!

[@firefighter218]

Thank you Mr. Porter

[@chythenyennanda]

mind blowing with lot of insights. Hope to put it in practice in my region

[@cyrusjulian187]

Late to the party here but thanks for the clusters map!!

[@JohnForbes]

start @2:51

[@draupabang7736]

cluster strategy -tying all impediments

[@draupabang7736]

cluster based economic development