REI Business Plan.v.1.5
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Transcript of REI Business Plan.v.1.5
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8/8/2019 REI Business Plan.v.1.5
1/19
Center for Regional Economic Issues
REI Business Plan Summary
Working Draft v.1.1
June 2005
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Center for Regional Economic Issues
Vision Mission Strategies
Global leader in
helping advancedregions achieve
sustainable
economic growth
Provide civic leaders
with the best
practices and tools fortransforming advanced
regional economies
and promoting
sustainable growth
Research.-- Create and grow aportfolio of actionable hypotheses
about open innovation systems in
regional economies
Networks.-- Develop collaborative
networks that accelerate regional
economic development
Products.-- Create and market a
portfolio of products and services
that generate revenues from regional
economic development initiatives
Education.-- Penetrate business and
public policy schools with advancedregional economic development
curriculum and activities
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Center for Regional Economic Issues
Brainpower
Quality Places Branding
Innovation
PurposefulDialogue
CreativePeople
Attractive places
Innovative businesses
Dynamicclu
sters
Open Source EconomicDevelopment
Views regional economies as
networks embedded in other
networks
Generates strategic roadmaps to
build clusters
Created returns of over $200
invested for every $1 invested in
Oklahoma Citys economic
development strategy
REI is currently deploying the
model in Indiana.
Ed Morrison developed the Open Source EconomicDevelopment model, and he distributes it under a
Creative Commons license.
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Center for Regional Economic Issues
REI strategies createsynergies to generate
revenues
Case Brand Recognition
REI Education
Generatesrevenues from inperson and web-based training onbuilding clusters
REI Research
Generatesrevenues frominnovativegovernment andfoundation funders
REI Networks
Generatesrevenues fromequity-basedalliances (e.g.,royalties)
REI Products
Generatesrevenues fromInternet-basedplatforms forclusters
CaseRevenues
Research.-- Leads to new networks
and civic education opportunities
about what works
Networks.-- Provide test beds for
new Internet based products andeducation services
Products.-- Leads to insights into
better networks and generates
access to networks for research
purposes
Education.-- Provides pathway for
translating research into policy and
creates new product ideas
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Center for Regional Economic Issues
Case Brand Recognition
REI Education
REI Research REI Networks
REI Productsand Services
Case Education
Case Research Case Transformation
Case Service
CaseReve
nues
Case Values
REIs strategy aligns with theCase strategy
REIs four strategies align andreinforce the Universitys strategy.
As REI builds its strategies, we will
measure REIs progress along two
metrics: brand recognition and
revenues.
Brand recognition will be measured
using standard public relations
metrics.
Revenues will be measured by
strategy. Each strategy area will be
considered a profit center for REI
and the University.
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Center for Regional Economic Issues
REIs researchstrategy builds a
think and do tank
KEY OPERATING CAPABILITIES
REI MUST BUILD
Build and manage research network
Define research agenda
Secure extramural funding
Manage research projects
Manage data
Integrate with other REI strategic
activities
Publish and promote
Brainpower
Quality Places Branding
Innovation
Generate Hypotheses
Use to educate andform public policies
Use to develop new products
Use to define new research agenda
Use to support new clusters
CaptureLearning
Purposeful
Dialogue
REI NationalResearch Network
CaptureLearning
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Center for Regional Economic Issues
Key Steps Who When
Identify
NetworkMorrison 3Q 2005
Define AgendaMorrison,
Fogarty4Q 2005
Research StrategyKey Activities
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Center for Regional Economic Issues
KEY OPERATING CAPABILITIES
REI MUST BUILD
Identify and assess cluster potential
Design trust-building exercises
Build cluster business models
Define cluster charters, rules and
alliances
Design data and communications
infrastructures
Integrate with other REI strategic
activities
Conduct cluster events
REI incubatesclusters and defines
strategy maps
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Center for Regional Economic Issues
Key Steps Who When
Expand UniversitiesCollaborative
Morrison,Wheeler, Minter
3Q 2005
Support existing
networks
Initiative
coordinatorsOn-going
Identify Great Lakesopportunities
Morrison 1Q 2006
Network StrategyKey Activities
2003 2004 2005 2006 2007
Universities
Collaborative
Launch
Tuesdays
Disease Management Health Network
Biofuels and Advanced Vehicles
East Cleveland 2010
Telework
CSU
Agreement
REI.Tuesday Webcasts
NOCHE
expansion
New Energy Roundtable
Medvick Matrix
Creative Digital Media
Sustainable Development: Green Cities
Blue Lake Network
Blue Ribbon
Strategy Plan
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Center for Regional Economic Issues
KEY OPERATING CAPABILITIES
REI MUST BUILD
Identify and assess new products
Design products
Identify markets
Develop and execute marketing
strategies
Provide customer support
Integrate with other REI strategic
activities
REI product strategydrives to increaserevenues with
cluster-based tools
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Center for Regional Economic Issues
2003 2004 2005 2006 2007
Test
seminars
Testwebcasts
Identify e-commerce
providers
Define product
development process
Build Indiana
toolkit
Product StrategyKey Activities
Key Steps Who When
Define product
development processKozink, Kozmon On-going
Identify e-commerce
providers Kozmon On-going
Test market webcasts Morrison 3Q 2005
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Center for Regional Economic Issues
REIs Message:
Our region will be transformed by open
networks of collaboration with colleges and
universities in the middle of these networks
KEY OPERATING CAPABILITIES
REI MUST BUILD
Identify key messages
Define audiences of influencers
Develop innovative educational
materials for use in business and
public policy schools
Develop Internet-based
communities of practice
Manage university relationships
REI educationstrategy is designed
to build clusters anddrive innovation
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Center for Regional Economic Issues
2003 2004 2005 2006 2007
Testseminars
Test ezine
Relaunch REI
Review
Expand REI.Tuesdayfranchise
Key Steps Who When
Expand REI.Tuesday
franchise through
Collaborative
Merkel On-going
Relaunch REI Review Morrison 3Q 2005
Test e-zine on NEO
innovation2Q 2005
Test seminars 3Q 2005
Education StrategyKey Activities
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Center for Regional Economic Issues Education StrategyIndiana
Text
Education strategy may be reshaped by
events in Indiana and REIs new partnership
with Purdue.
Open Source Economic Development is
remaking Indianas economic landscape.
Scott Massey, CEO, Indiana Humanities
Council
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Center for Regional Economic Issues To achieve scale and execute its strategies,REI must develop operational capabilities
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Center for Regional Economic Issues
0
225
450
675
900
2000-2001 2001-2002 2002-2003 2003-2004 2004-2005
REI Cash Balance ($000)
REI needs support to rebuild
REI has faced twin challenges. Weatherheads financialdowndraft eliminated REIs cash reserves needed for
rebuilding. Second, the decision by the Cleveland and
Gund foundations to step away from their 20 year
commitment to provide core funding for REI has
changed the financial model for REI.
REI is now developing a business plan that frees the
Center from core support from local foundations.
0
225
450
675
900
2000-2001 2001-2002 2002-2003 2003-2004 2004-2005
REI personnel costs ($000)REI dramatically downsized in 2003-2004. REI now runs
with two University employees and a network of
consultants operating as independent contractors on
30 day contracts.
REI began rebuilding in 2004-2005. For this rebuilding
program to continue within Case, REI will need the
support of Weatherhead and the University.
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Center for Regional Economic Issues
REI has developed a strong reputationfor delivering practical results
Bruce Latimer, Ph.D.Executive Director
Cleveland Museum of Natural History
Ed and his staff have been tireless in their efforts to reach out and communicate with thesurrounding community. I cannot applaud these important efforts enough. Their success
in doing this is demonstrated in the energetic collaborations between individuals and
institutions where none existed before.
Richard Medvik
Standards and Regulatory Compliance
Engineer
Swagelok Company
You are doing a great job, and I am proud to be part of it. I am copying this note to Art
Anton, the President and CEO, of Swagelok Company, where I have worked for 38
years. Art, like me, is a Case grad who is very interested in serving the city of Cleveland
and North East Ohio. Im sure he will be very impressed with your accomplishments ashe learns more about them.
Paul Sears
Dean, College of Business
Ashland University
REI plays a very important honest broker function of bringing resources, and people,
together around important and exciting ideas. In this regard, you are unique in the
scope of your interests, and competence, you bring to the table.
Sam Cordes
Co-Director, Center for RegionalDevelopment
Purdue University
REI has a very impressive vision, products and services. We are delighted to have such
a close working relationship with Ed and REI.
Paul Oyaski
Director of Economic Development
Cuyahoga County Commission
Regionalism and economic development have never been greater topics of
conversation or higher public policy priorities than today in Greater Cleveland. REI has
brought substance and form and focus to this imperative community-wide dialog.
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Center for Regional Economic Issues
Detailing market opportunities, alliances and competition
Detailing product/service portfolio and product/service descriptions
Developing marketing and sales plans
Developing product/service development and commercialization plans
Developing operations plans (business processes, people and information
technology requirements, management decision-making systems)
Finalizing organizational and intellectual property plans, including governance
Defining management structure and key management roles
Building an activity-based financial model of the business
Detailing financial projections, including sources and uses of capital
Defining asset (including intellectual property) and risk management plans
Business plan work in progress