This was first posted on January 27, 2020. According to the 2018 Report on the State of Women Owned Businesses, Black women-owned businesses experienced the highest growth rate (164%) of all women-owned businesses from 2017 to 2018. An appealing alternative to the formal labor market, entrepreneurship provides Black women the opportunity to escape hostile working…
Since the initial publication of the Economic Freedom of the World report in 1996, numerous scholarly studies have used the data to examine the impact of economic freedom on investment, economic growth, income levels, and poverty rates. Virtually without exception, these studies have found that countries with institutions and policies more consistent with economic freedom have higher investment rates, more rapid economic growth, higher income levels, and a more rapid reduction in poverty rates.
We are certainly not the first to show that managers must keep their workers happy, but this is often discussed as a compromise or deviation from what is best for the organization. We show that such behavior is in fact directly in line with an organization’s best interest in a large number of cases. It is rational to prioritize a leader’s social credibility, and such abilities deserve equal recognition in evaluating a manager’s effectiveness. A government leader’s knowledge of economic conditions will prove meaningless if they cannot convince independent firms to invest locally. Similarly, an executive’s analytical brilliance or creative insight into consumer markets may not lead to business success unless they are able to maintain followership among employees in many areas of their firm.
Our experiences at the DeVoe Moore Center have shown that the Millennial and Gen Z generations are an untapped resource of entrepreneurship and creativity waiting to be shaped by the right organizational leadership and structures. We are inspired and thriving because our Center happens to be located at the sweet spot in transition generations from students to professionals. By making the human resources shift to take advantage of an innate passion for achievement by enabling guided, bottom up, and goal directed effort, our younger works have leverage the experience and skills of more experienced staff to achieve significant growth in productivity and output.