Overview

Metropolitan areas with a high concentration of headquarters from diverse industries stand out as influential, dynamic economies. However, there is little discussion about the characteristics of these 'headquarters economies'. Why do some regions develop vibrant headquarters economies, whereas others do not? The answer lies in understanding the essence of headquarters - the managerial talent pool that guides and governs these companies. By investigating an exemplar headquarters economy - Minneapolis-St. Paul - this volume demonstrates that the talent pool (managers), its movement among companies and industries in a region (mobility), and the nature of its inflow and outflow from a region (migration), can create a virtuous cycle that strengthens regional companies, and draws in additional talent. Comparing the migration pattern of educated, high-earning individuals across metropolitan areas in the United States, and drawing upon a proprietary survey of thousands of headquarters employees in Minneapolis-St. Paul, this book provides supportive evidence for this dynamic.A central insight of the research is that professional managerial talent is a determinant of regional vitality that has largely been overlooked. The underlying factors of managers, mobility, and migration, here identified in the context of Minneapolis-St. Paul, exist in metropolitan areas around the world, demonstrating the scope of application of the research findings, and highlighting the benefit of focusing on these underlying factors.

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9780198828914

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Reviews

Lessons about the power of being a 'headquarters economy': Our governor and legislators might be a little busy now but by next session they should have read a new book called Headquarters Economy by business school Prof. Myles Shaver. It's an easy read, but this isn't a recommendation for book club. They need to read it because they likely don't understand Minnesota's economy as well as they should - and certainly not as well as Shaver does. Policymakers in other states might want to pick it up, too. Especially anyone who thought chasing after Amazon.com Inc.'s second headquarters seemed like a swell idea. * Lee Schafer, Minneapolis Star Tribune * 5.0 out of 5 stars Excellent! Comprehensively researched, clearly written. This book tells the story and provides information on what makes thriving business communities. Destined to become a classic * Bonnie H. Bennett, Amazon review *

Lessons about the power of being a 'headquarters economy': Our governor and legislators might be a little busy now but by next session they should have read a new book called Headquarters Economy by business school Prof. Myles Shaver. It's an easy read, but this isn't a recommendation for book club. They need to read it because they likely don't understand Minnesota's economy as well as they should - and certainly not as well as Shaver does. Policymakers in other states might want to pick it up, too. Especially anyone who thought chasing after Amazon.com Inc.'s second headquarters seemed like a swell idea. * Lee Schafer, Minneapolis Star Tribune * 5.0 out of 5 stars Excellent! Comprehensively researched, clearly written. This book tells the story and provides information on what makes thriving business communities. Destined to become a classic * Bonnie H. Bennett, Amazon review * Shaver (Carlson School of Management, Univ. of Minnesota) is an experienced researcher of strategic decision making in geographic expansions, managerial choices, and corporate acquisitions. His family's relocation is the impetus for this multipronged inquiry into the unique headquarters magnetism of the Minneapolis/St. Paul area. In contrast to many analyses of regional power that focus on industrial clusters, Shaver's analysis expands the concept of headquarters to include clusters of high paid professional and managerial employees of firms in legacy locations after parent companies changed hands through mergers (as an example Shaver references the merger of Wells Fargo and Norwest Corporation). * G. M. Klein, Willamette University, Choice * Shaver (Carlson School of Management, Univ. of Minnesota) is an experienced researcher of strategic decision making in geographic expansions, managerial choices, and corporate acquisitions This work extends economic geography to broaden understanding that clusters of quasi-headquarters can have major economic impacts on a region. Summing Up: Recommended. Lower-division undergraduates through faculty and professionals. * G. M. Klein, Willamette University, CHOICE *

Author Information

Professor J. Myles Shaver Myles Shaver is Professor of Strategic Management and Entrepreneurship at the Carlson School of Management, University of Minnesota, where he holds the Pond Family Chair in the Teaching and Advancement of Free Enterprise Principles. He has also received the Distinguished PhD Alumni Award from the Ross School of Business, University of Michigan, and the Irwin Outstanding Educator Award - an international teaching award based on his career contributions to MBA and Executive Teaching. His research interests include corporate expansion and corporate headquarters strategies.

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