UNIT 4 Project Stakeholder Engagement Case Study 4.1 Silicon Valley Silicon Valley is a cluster of high tech companies that have come together to collectively form an IT and computer industry where the region, as a whole, preforms as one large entrepreneurial company. The Silicon Valley cluster has all the key ingredients and the critical mass to work effectively as a technology cluster: o Local universities (suppling educated wiz kids) o Entrepreneurs (networking in the local bars and clubs, creating a cross-flow of ideas) o Research parks (developing the latest technology) o Venture capitalists (suppling funding for new ventures) o Local high tech industries (manufacturing and producing the latest technology) o Spin-off companies (developing new technology and keeping the cluster at the leading edge) In Silicon Valley people are openly encouraged to network informally in cafes and bars such as the Mountain View restaurants (originally they would meet at the legendary home Brew Computer Club and Walkers Wagon Wheel Bar. In this social environment, the computer engineers feely talk about the latest technology they are developing, their problems and the opportunities. This atmosphere of cross-fertilizing ideas and gossip is an effective way of transferring technology and disseminating information. When these groups of people see their peers developing and disseminating information creative ideas into leading edge products and successful companies this further encourages and inspires the entrepreneurial spirits. The technology cluster approach is successful for Silicon Valley because the work practices have changed from being secretive and confrontational to a culture of openness, working together, breaking down barriers and cooperation. Collaboration is a powerful word in Silicon Valley. The technology cluster encourages the development of strategic alliances with other companies in the computer industry. This enables each company to focus on what it does best, enabling it to produce products quicker, reduce unit costs and, ultimately, grow faster. Source: Burke (2014:269)

QUESTIONS

a) What is the purpose of the networks that are established by Silicon Valley?

b) Where are the meeting places of project stakeholders?

c) What benefits does Silicon Valley gain from the networks?