Download - REI Business Plan.v.1.5

8/8/2019 REI Business Plan.v.1.5

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Center for Regional Economic Issues

REI Business Plan Summary

Working Draft v.1.1

June 2005


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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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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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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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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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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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Key Steps Who When

Identify

NetworkMorrison 3Q 2005

Define AgendaMorrison,

Fogarty4Q 2005

Research StrategyKey Activities


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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


activities

Conduct cluster events

REI incubatesclusters and defines

strategy maps


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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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REI MUST BUILD

Identify and assess new products

Design products

Identify markets

Develop and execute marketing

strategies

Provide customer support


activities

REI product strategydrives to increaserevenues with

cluster-based tools


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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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REIs Message:

Our region will be transformed by open

networks of collaboration with colleges and

universities in the middle of these networks


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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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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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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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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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