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Recom plays a major role in developing wealth creation in West London
Socio-economic, political and global factors are changing the environment in which we work.
According to Professor Michael Porter of the Harvard Business School, one of the key aims of successful enterprises today is to build on growth cluster strengths. A good example of this is the City Growth initiative, a new market-based approach to urban revitalisation, which recognises that sustainable economic development in deprived areas will only be achieved by local partners working more effectively with local business. The aim is to build a competitive business environment that facilitates the creation of jobs, income and wealth in the pursuit of an economically stronger and more inclusive community.
City Growth is based upon a model developed by Professor Michael Porter in the 1990s and was introduced in the UK in July 2001.
Recom Research in Communications was chosen to carry out an extensive study, and had the privilege of working with Michael Porter’s team for the Western Arc area, which is the largest City Growth initiative in the UK.
Recom’s approach to management and procedures has been described as an excellent example of Best Practice in carrying out market research, presenting actionable and clear results that have made a real difference to the area.
The Western Arc is an area of both historic and economic significance in its own right and is strategically located between London’s West End and Heathrow airport. It comprises the areas of Park Royal, Wembley and White City, and spans the three London Boroughs of Brent, Ealing, and Hammersmith and Fulham.
At the heart of the Western Arc is the Park Royal Estate, London’s largest business park.
Park Royal has a proud manufacturing heritage and is home to some 1,900 companies employing approximately 40,000 people. In the north of the Western Arc, regeneration activity associated with the new National Stadium project at Wembley will include retail, leisure and entertainment facilities that are expected to transform the area by providing 3,700 new homes and 6,100 new jobs.
The objective of the Recom study was to gain a detailed understanding of the various industries based in the area, and in particular within the following clusters, as the area primarily attracts companies from these sectors:
•TV/Film/Radio
•Food & Drink
•Transport & Logistics
Recom was chosen not only for its expertise in sampling and conducting market research, but also for its proactive approach and its insight into how businesses are run. In order to be at the heart of this revolutionary approach, Recom’s MD Ria Barnabas was invited to be a member of the Western Arc Strategy Board, giving her time freely to develop the strategy for City Growth and thus ensuring that the research was an integral part of the process. Recom’s UK headquarters is in West London, and Ria feels passionately about the importance of helping local business and generating wealth for the benefit of the community.
Recom found that the majority of companies represented in the Western Arc (59%) currently fail to interact with other companies within their local areas. Only 27% of them interact with companies within clusters, and the remainder considered other companies in the same cluster to be direct competitors. But when such businesses were encouraged to think about the advantages of developing links, the vast majority saw this as an opportunity to grow and could immediately think of benefits.
The results of the Recom study provided a strong body of evidence, which formed the basis of the cluster intervention strategies devised.
For more information about the City Growth scheme please contact the Park Royal Partnership:
Martin Houghton
phone +44 (0)20 8621 6384
email mhoughton@parkroyal.org
website www.parkroyal.org
