Globalization has hit hard the local economy in Grand Rapids and West Michigan. But the shifting markets and economic challenges also provide an opportunity for business leaders to innovate new products and ideas and take advantage of the evolving economy, according to Lynda Applegate, a professor from the Harvard Business School who spoke in GR last week.
"When we get into turbulent times, established companies go, 'Eew,'" Applegate said. "Entrepreneurs go, 'Yes.'"
Applegate, who headlined a seminar sponsored by the West Michigan Science and Technology Initiative, encouraged attendees to develop business plans and models that strive to identify and exploit new market opportunities. The iPod, by Apple, was an example she cited as a new technology which changed the marketplace.
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Source: Business Review Western Michigan
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