Prospering in a

Hyper-Competitive Global Economy

 

Virginia Museum's 'Ungala' to Recognize Business Creativity

 

RICHMOND--Fifteen years ago, the world trading system was dominated by a handful of countries in North America, Western Europe and the Asian Rim. The population of these highly developed economies amounted to about 940 million. Since the fall of communism and proliferation of the digital economy, the world trading system has expanded to include China, India, South Asia and Latin America—adding another four billion people to the globally accessible labor pool.

 

For Richmonders, as for all Virginians, the paramount question of early 21st century is this: How do we compete and maintain our standards of living in a world economy where manufacturing, service and even R&D jobs are flowing to countries where the cost of labor—not just pick-and-shovel workers but engineers, computer programmers and other knowledge workers—runs between one-third and one-tenth of what it does in the United States?

 

The answer is this: We compete by nourishing creativity. We maintain our competitive edge by out-innovating our foreign competitors, adapting to change and introducing new products, new technologies and new business models more rapidly than they can adapt to the old ones.

 

Richmond must build an economic base of nimble, adaptive, creative enterprises. We must develop, recruit and retain a workforce of highly skilled and highly educated individuals—artists, scientists and entrepreneurs… the creative visionaries who see the possibilities and know how to convert their dreams into reality. We must refashion our entire society—not just our businesses and workforce, but our governmental, educational and civic institutions—to support the creative economy.

 

One way to start that process is to honor the most creative among us. That’s the purpose of the Virginia Museum of Fine Arts’ recognition this May 5 of 26 of the most creative businesses in the Richmond region. Seven of these companies will be presented a Muse Award by the VMFA Business Council in recognition of their genius.

 

The awards celebrate "the creative energy for new products, services and culture that thrives in Central Virginia," says Will Loving, VMFA Business Council chairman.

 

The event, sponsored by Troutman Saunders and chaired by Jacques Moore, will celebrate creativity in unexpected ways.  Seven winners will be awarded cast aluminum trophies designed by Cushing Manufacturing. The spiral trophy design, inspired by the chambered nautilus, evokes the natural evolution of creativity in nature. Tickets to the event are $75. Corporate tables are also available.

 

Finalists for the awards include:

 

Baskervill & Sons

Bill Police

Bostwick Laboratories

CarMax Inc.

Chmura Economics & Analytics

Circle S Studio

Dreaming Creek

Ellwood Thompson's Natural Market

Genworth Financial

Goddard School

Graphics Gallery

Intelliject LLC

La Difference

Legend Brewing Co.

Mattress King

PartnerMD

Piascik & Associates

Play

Poesis Inc.

PoshTots

Positive Vibe Café

Soak!

Spanish Academy & Cultural Institute

Superior Production Exchange

The Switch Beverage Company

Timmons Group.

 

The VMFA Business Council serves the museum by soliciting new and increased corporate gifts to the VMFA Fund and corporate support for special museum projects. In addition, it provides VMFA with greater entrée into the business community, fosters among the business community a familiarity with the arts in general and the museum's mission in particular, and raises awareness of the contributions VMFA makes to the quality of life and economic vitality of the region.

Members of the Awards Committee are Susan Hardwicke, President, kSero Corporation; Richard Farrell, President of EMC2 Inc.; Eddie Gugelman, Senior Vice President, SunTrust Bank, Mid-Atlantic; Paula Gulak, Partner, SyCom Technologies; Jacques Moore, President, Moore Cadillac; Will Loving, COO, Ironworks Consulting; and A. John Lucas, Senior Vice President, RBC Dain Rauscher.

 

For tickets or sponsor information, call Elizabeth Lowsley-Williams at (804) 340-1469.

 

-- April 20, 2005