Advanced Search/Archive Updated: 27 Dec 2007 CURRENT ISSUES News ISSUES IN FOCUS APEC Biotechnology Bribery and Corruption Protecting Intellectual Property Rights ... USA and the WTO PRODUCTS eJournals Publications RESOURCES International Economic and Trade Links You Are In: USINFO Topics Trade and Economics The ubiquitous shopping cart was invented in 1937 by Sylvan Goldman, a supermarket owner in Oklahoma City. (© AP Images) Small Business Plays a Big Role in Innovation Paula King had a problem. Diagnosed with cancer in 2003, King was inundated with goodwill gift food baskets from her friends. But her digestive system had an intolerance for corn products, commonly used in foods but sometimes omitted from ingredient lists, leaving her afraid to eat the well-intentioned gifts. Nor could she just give the baskets to her friend Susan Lawens, who had her own allergy to wheat, another frequent ingredient. King and Lawens turned a problem into a thriving business: they started HealthyGoodiesGifts.com, marketing customized gift baskets to those, like themselves, with special dietary needs. Two years later, their business received a Stevie Award for Women in Business as the most innovative company of 2005. Their success illustrates several points about the role of small business in innovation. (complete text) Companies Find Advantages in Moving Near Fiercest Competitor Locating business competitors together, which might seem counterintuitive, helps an entire industry to succeed, according to many economic development experts. This strategy increases business innovation and boosts wages, according to Michael Porter, a business cluster expert and professor at Harvard University. | |
|