“People, materials, facilities, money, and time are the resources available to us for conducting our business. By applying our skills, we turn these resources into useful products and services. If we do a good job, customers pay us more for our products than the sum of our costs in producing and distributing them. This difference, our profit, represents the value we add to the resources we utilize.” PeopleIfsJobsValuesTurnsDifferencesPayMaterialsProductsCostSkillsResourcesAddProfitAvailableCustomersGood JobFacilityConducting Author:David Packard
“Smart businesses do not look at labor costs alone anymore. They do look at market access, transportation, telecommunications infrastructure and the education and skill level of the workforce, the development of capital and the regulatory market.” LooksLevelsDevelopmentCostSkillsSmartLaborAccessInfrastructureTransportationWorkforceTelecommunicationsSmart BusinessTransportation Infrastructure Author:Janet Napolitano
“In the four decades after World War II, manufacturing jobs paid more than other jobs for given skills. But that is much less true today. Increased international competition has forced American manufacturers to reduce costs. As a result, the pay premium for low-skilled workers in manufacturing is smaller than it once was.” WorldWarTodayJobsGivenResultsPayFourCostSkillsLowsPaidCompetitionWorkersInternationalDecadesWar Of The WorldsWorld War IiManufacturingPremiumSkilled Workers Author:Christina Romer
“A successful economic development strategy must focus on improving the skills of the area's workforce, reducing the cost of doing business and making available the resources business needs to compete and thrive in today's global economy.” NeedsTodayEconomySuccessfulFocusEconomicDevelopmentCostSkillsResourcesAreasStrategyAvailableThriveImprovingReducingGlobal EconomyWorkforceEconomic DevelopmentWorld Economy Author:Rod Blagojevich
“A general “law of least effort” applies to cognitive as well as physical exertion. The law asserts that if there are several ways of achieving the same goal, people will eventually gravitate to the least demanding course of action. In the economy of action, effort is a cost, and the acquisition of skill is driven by the balance of benefits and costs. Laziness is built deep into our nature.” PeopleIfsWayWellsActionLawCoursesGoalEffortEconomyAchieveBalanceCostSkillsBenefitsBuiltDrivenLazinessAcquisitionCognitiveExertion Book:Thinking, Fast and Slow Source: Thinking, Fast and Slow