Bruce Kendall

Bruce delivered very interesting points about how the money flows within the local society. One of the great point he made was that growth of the market comes from the local existing company. This reminds me the issue of WalMark taking over local businesses with their low prices. I had great conversation with one of my friend who is majoring in international business, and he states that one of the factor for worldwide market crisis is having Walmart. Bruce introduced a system called incubator during his presentation. I personally thought this is very interesting and effective system that new born company can have. Incubator helps out starting company to have some place and resources to get things going. When a company is small and their revenue is low it is very difficult decision to rent a office, but having an option of using incubator will help those needed companies. Of course, the company will get kicked out after awhile.

Bruce made two main distinction between job categories: primary job and secondary job. Primary job is one of the most important job that a local society need. Primary job creates and sells to out side of the local market, which will result in bring 'fresh' money from other local areas to fuel up local growth. Where as secondary job circulates existing money inside the local market. Important idea to keep in mind is that a local market needs both primary and secondary jobs in place, but without primary job the local market will soon go down. There is good saying from old days, "still water will get rotten." Make the money flow in and out of the local market is very important.