The Effectiveness of Funding Initiatives

Posted October 22nd, 2010 in Uncategorized by admin

I keep wondering how, when trying to support local industries, organizations only use hindsight and the present situation to determine what to fund. As an example, I’ll use the pairing of federal infrastructure development and matched provincial funding. The focus was on necessary infrastructure development (roads, bridges, etc) in the hopes of keeping the economy moving and people employed. The opportunities have been welcomed by construction companies with the spinoff of working employees and strong assets.¬†On the flip side, have we missed some opportunities by limiting our focus on what we’ve done historically. Development such as road building is good for the economy and helps to prepare for the future. What though, if some of that money had been diverted to non-traditional uses and allowed creativity to work? What other activities are out there for those same firms focused more on what the future business might be or look like? How better prepared might we all be to face another downturn in the economy?

As a coach, why am I interested in such a topic? Well, I was involved in several projects requiring the pairing of funds. Now, looking back, I wonder what other businesses or work could have used that funding to increase their markets or their markebility? While the initiatives kept people working, a small portion of that funding would have gone a long way helping firms determine what their new markets might look like. It also supports their ability to show creativity and be ready to transform themselves into something new and exciting. Generating the momentum for change will be a key ingredient for success as we move more aggressively into a knowledge base resource economy in Northern BC!

I’m wondering what others are doing to promote the change in their business needed to participate globally and deal with change in a proactive manner? How could a coach in your corner support you moving forward?

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