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Competitividad Internacional AD-6010: Case

New York City has been a leading metropolitan area due to its strategic location for trade since the 17th century. Key clusters like publishing and finance emerged first, taking advantage of NYC's position. Over time, the mix of clusters has changed with new industries developing like tourism and technology as the city grew. Mayor Bloomberg implemented a strategy focused on retaining and growing clusters in targeted industries. This included investing in infrastructure, education, and promoting public-private partnerships. Going forward, the next mayor will need to address challenges of maintaining competitiveness and managing growth in a sustainable manner.

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110 views3 pages

Competitividad Internacional AD-6010: Case

New York City has been a leading metropolitan area due to its strategic location for trade since the 17th century. Key clusters like publishing and finance emerged first, taking advantage of NYC's position. Over time, the mix of clusters has changed with new industries developing like tourism and technology as the city grew. Mayor Bloomberg implemented a strategy focused on retaining and growing clusters in targeted industries. This included investing in infrastructure, education, and promoting public-private partnerships. Going forward, the next mayor will need to address challenges of maintaining competitiveness and managing growth in a sustainable manner.

Uploaded by

gagafik
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Competitividad Internacional AD-6010

CASE – New York City: Bloomberg’s Strategy for Economic Development

Dr. Francisco J. Azcúnaga Guerra


Dr. Carlos Atoche Kong

Equipo:
Daniela Carbajal #574459
Elizabeth Narváez Medrano # 571418
Andrea Álvarez # 571627
Alexis Barbaro # 572493

22 de marzo del 2018


CASE – New York City: Bloomberg’s Strategy for Economic Development

A. Introduction

B. Case questionnaire

1. How did New York City become a leading metropolitan area in the U.S. and the world?

What were the key enabling public policies?

New York City prospered since the seventeenth century when it was founded as a Dutch trading
post it has been a centre of trade and one of the main gateways for immigration to the United
States.

NYC location becomes a center of clothing production, which was also the point of entry for
silks from France and China. As well as being the capital of finance and law in the United
States, New York is a centre for the creative industries: fashion, design, art, advertising and
more. The creative industries have grown dramatically over the past decade, with employment
in film and television increasing and performing arts at a time when employment in finance
remained static.

NYC had a strong mayor-council form of government. The major managed city agencies, set the
City’s agenda, and proposed the City’s annual budget. In addition to the general operating
budget the City had a capital budget for investments in infrastructure and other assets. “Public
benefit corporations” were able to issue their own debt, and possessed significant independence
from elected officials.

NYC had established one of the worlds’ largest networks of Business Improvement Districts
(BIDs), which were public/private, and set special taxes on commercial property owners in
designated areas. The port continued to be an important part of the economy, dominating U.S
foreing trade. Financial services and business services thrived. Sugar, garments, and publishing
the most important manufacturing cluster activities.

2. What clusters emerged first? Why? How has the mix of clusters changed over time?

Why?

The first cluster to emerge was the Publisher cluster in the early 1800s to distribute British
books to American readers. It became recognized around the country because of the NYC´s
book fairs. Due to this a new cluster developed, including The New York Times, and the
Associated Press.

More clusters joined and become an important part of the dominating economy of U.S such as
Tourism that grew and the entertainment cluster expanded greatly as media companies and
record labels established midtown headquarters. The technology boom boosted the financial
services clusters attracting large number of immigrants with the latest wave having higher
average educational levels than previous immigrants though below that of the native population.
Local clusters such as retailing and health care, serve customer base that went well beyond the
local population. Some retailers in Time Square, for example, generated the 70% of their sales
from tourist traffic.

NYC expands and develops more cluster because of the need in the city were growing rapidly,
as were industries.

3. Identify and evaluate the key elements of Mayor Bloomberg’s strategy to date.

4. Assess New York City’s competitive position in 2012.

5. What recommendations would you make to Mayor Bloomberg in early 2013? What are

the major challenges facing the next mayor?

C. Conclusion

References

Porter, M. (2008). On competition (Séptima ed.). Boston, MA: Harvard Business School Publishing
Corporation.
Porter, M., Ketel, C., & Ramirez-Vallejo, J. (2013). New York City: Bloomberg’s Strategy for
Economic Development. Harvard Business School Publishing, 1-36.

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