IESE Insight: Smart Cities, Sustainable Progress
5 types of capital for boosting a city's intelligence
With urbanization on the rise globally, failure to adapt to the new urban reality could be disastrous for cities facing unprecedented demographic, economic, social and environmental challenges. Development models are needed to transform such challenges into opportunities, argue the authors of an article in the current issue of IESE Insight.
Drawing on the urban development model of the IESE Cities in Motion project, IESE professors Pascual Berrone and Joan E. Ricart, along with Juan M. Barrionuevo, who is vice president of the initiative, identify five types of capital that contribute to a city's intelligence: economic, human, social, environmental and institutional.
They go on to outline strategic planning methodologies needed to create smart cities – sustainable, innovative, connected and socially cohesive places that enhance the quality of urban life. The article is based on research carried out at IESE's Center for Globalization and Strategy on urban development models around the world. The article highlights some of the professors' early findings and the key implications for public and private sectors alike regarding the future development of smart cities.
The Brazilian metropolis of Rio de Janeiro is cited as one of a growing number of cities using new technology and intelligent resources to streamline their everyday operations and improve the quality of life for their citizens.
Brazil's impressive growth and progress spurred IESE to organize its premier yearly alumni event, the Global Alumni Reunion, in Sao Paulo, on Nov. 1-3. Some 1,000 graduates and friends are expected to gather for the reunion, which is being held in Latin America for the first time ever. This year's GAR will feature a number of key session on innovation, such as "Charting Scientific Leadership and Innovation for an Improved Quality of Life”; “Connecting Technology, Strategy and Business Models”; and “Powering the Future: Investing in Infrastructures in a Connected World."
To read the article, visit IESE Insight.