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The Value Rub Model

Posted on: September 24th, 2014 | by: Ashley Kloczynski | no comments

Social Enterprise Business Models: Value Rub Model

This week’s social enterprise model covered by Professor Bentley is the Value Rub model. In a typical value rub model, there is a market-based solution that tackles societal and environmental problems. In this model, a company takes a percentage of its profit and then donates that back to an aligned impact opportunity. United By Blue and TOMS are just two out of thousands of companies that utilize this model.

Utilizing the Value Rub Model

Apparel retailer, United By Blue, utilizes the value rub business model.  United By Blue’s philosophy focuses on the cleaning of our nation’s oceans and waterways. For every product that is sold, the company removes one pound of trash from the oceans and waterways through company cleanups. United By Blue is an environmental mission company, in which product sales are linked to environmental actions.

TOMS is another company utilizing the Value Rub business model. With each pair of shoes sold, TOMS donates a pair to individuals in need. TOMS’ model is not just limited to footwear, but has also expanded to glasses and coffee too. TOMS’ business model is having positive impacts on communities across the globe.

What sectors should utilize these models?

Companies across all sectors can benefit from using a value rub model. By taking a look at the impact a company has, or can have, on the community, workforce, and environment can provide new ways for a company to grow and prosper.

In the final segment of this September series, Professor Bentley will be discussing the Mission Market model.

 

The Operations Efficiency Model

Posted on: September 17th, 2014 | by: Ashley Kloczynski | no comments

Social Enterprise Business Models: Operations Efficiency Model

The first social enterprise business model covered by Professor Bentley is the Operations Efficiency model. In a typical operations efficiency model, a company takes advantage of certain efficiencies that may be uncovered by addressing social impacts. It is quite common to see this in energy costs and labor efficiencies. This type of model provides companies the opportunity to create positive environmental and social impacts.

Energy Efficiencies

For example, Wash Cycle Laundry, a company that utilizes the operations efficiency model, is a sustainable alternative to the traditional dry cleaning service. Unlike a traditional laundry service that uses trucks for delivery, Wash Cycle Laundry opts for delivery by bicycle. This alternative is considerably inexpensive compared to traditional distribution. Laundry is cleaned in energy efficient washing machines. The high energy efficient washing machines provide a great deal of environmental impact.

Social Efficiencies

Wash Cycle Laundry also provides a great deal of social impact through their services by employing hard to employ populations who are ready to get back into the workforce. By providing employment for people transitioning out of other hard to employ situations-sex offenders, welfare recipients, etc. – make a company like Wash Cycle Laundry more efficient operationally. New efficiencies within the company are created by these different employment tactics.

A Great Deal of Impact

An operations efficiency model provides the opportunity for companies to create positive environmental and social impacts. Both the environmental and social impacts allow for a company to operate more efficiently.

In the next part of the September series, Professor Bentley will be discussing the Value Rub model, which also creates significant positive impacts.

 

Social Enterprise Business Models

Posted on: September 10th, 2014 | by: Ashley Kloczynski | no comments

Social Enterprise Business Models: An Introduction

Social enterprises provide a market-based solution that addresses a societal or environmental problem. In a typical social enterprise business model, the organization considers all of its stakeholders and looks to create value for multiple groups. Certainly, as a for-profit venture, social enterprises aims to generate returns for investors. However, in addition to money-making goals, they place high value on the interests of other stakeholders. Social enterprises integrate stakeholder value into the core business model, offering unique benefits to its employees, customers, and the surrounding community. Social enterprise business models provide compelling opportunities to entrepreneurs who want to do good.

Decreases Dependency on Donor Funds

If social enterprises successfully serve their customers and manage related costs, the for-profit model leads to financial sustainability. For organizations that are exclusively for-profit, this revenue generation eliminates dependence on donations and grants from a shrinking pool of nonprofit funding. For organizations that implement a hybrid model, integrating some for-profit activities within a larger nonprofit, it decreases dependence on these funding sources and provides the nonprofit with unrestricted operating cash. In both cases, the for-profit activities contribute capital that can be used for business expansion or other growth initiatives.

Increases Impact Potential

Beyond financial sustainability, a well-designed social enterprise business model can dramatically increase an organization’s overall impact. For one, the for-profit model provides flexibility and freedom for the organization to try new ideas that may better-serve its stakeholders. The steady income stream allows the organization to focus on its core mission and objectives, rather than fundraising. Finally, if the organization provides a market-based solution for a previously unsolvable problem, it offers an innovative model for others who wish to solve similar issues.

Common Social Enterprise Business Models

In this September series, Professor Bentley will cover three common social enterprise models, explain how they operate and provide an example of each. He terms the three models as value rub, operational efficiency, and mission market.

 

 

Now Accepting Fall 2014 Clients

Posted on: July 29th, 2014 | by: Ashley Kloczynski | no comments

Business Consulting Philadelphia

Fox Management Consulting is now accepting consulting clients for our fall 2014 programs. If you would like a team of dedicated, creative MBA students from the Fox School of Business to research a business challenge or question for your organization, please contact us at FoxMC@temple.edu or complete the form on the Contact Us page.

 

 

 

Fox-MC’s partnership with Deloitte continues for it’s seventh year

Posted on: October 21st, 2013 | by: Debora Charmelus | no comments

On October 17th, Management Consulting (Fox-MC) and Deloitte Consulting continued their long-lasting partnership with a session at Deloitte’s Philadelphia offices. For the past 7 years, consultants at Deloitte have helped the Fox-MC MBA student associates perfect their research analyses and presentations. During the event, Fox-MC teams present their findings and strategies to a group of seasoned executives led by Deloitte Senior Managers or Partners who then provides vital feedback on both content and form. The Deloitte consultants run the associates through the same rigorous review that they apply to their own teams.

The Deloitte-Fox School alliance began when Rich Cohen, a Principal at Deloitte ], visited Fox-MC to listen to the students present their research findings. He and TL Hill, the Managing Director of Fox-MC, came up with the idea of Deloitte hosting reviews for the teams – an idea that has been evolving ever since, from three or four teams once a year to five to nine teams twice per year.

The Deloitte review is hugely important for the Fox-MC students who receive expert advice from seasoned professionals and often find themselves challenged and empowered to deepen their research and sharpen their insights. Perhaps surprisingly, the review is also popular among Deloitte consultants, many of whom return year after year, even as others sign up.  The benefits for the Deloitte consultants genuinely enjoy helping MBA students tackle real problems for client firms: What the consultants have to say is valuable and the students listen!

Over the years, Deloitte and Fox-MC have adjusted the sessions to make the experience more collaborative, improving the experience for both the students and consultants.  Deloitte has also been able to provide valuable suggestions for improving the Fox School’s MBA program, while hiring several graduates.  Looking ahead, Cohen sees the members of Deloitte becoming more involved with both Fox-MC and the Fox MBA as they continue to flourish.

 

Students find a way to give back through Fox Board Fellows

Posted on: September 18th, 2013 | by: Debora Charmelus | no comments

A photo of Temple University's Fox School of Business's Greg DeSheilds.

Fox School of Business’s Greg DeSheilds speaking at the FBF Kickoff Breakfast.

“Students realize the critical role social entrepreneurship plays in addressing the world’s problems. They recognize the importance of giving back, and they want to contribute…”- Anne Bayless, Associate Director, Fox Board Fellows

Philadelphia is a city that cares.  Many of its residents demonstrate their commitment to their neighbors and communities by donating time and money to local non-profit organizations.  The Fox School of Business supports this type of social responsibility and volunteerism through its Fox Board Fellows program, which is a collaboration with Fox Net Impact. Graduate students who enroll in the program, the FBF fellows, take a course on non-profit management, serve as non-voting board members with local non-profits, complete a project for their sponsoring non-profit, and in exchange, receive one-on-one mentoring from an experienced member of the non-profit’s board. Through this experiential learning opportunity, students use business skills to provide fresh insight to non-profit leaders, while learning what it takes to lead an effective non-profit organization and serve as a productive member of the board.  Both the students and the boards also expand their networks. Anne Bayless, Associate Director for Fox Board Fellows, explains that the program is designed to offer a meaningful experience for both the fellows who enroll in the program and the non-profit organizations that support them. “The Fox Board Fellows program is great for students who enjoyed volunteering in the past but now have less time for their passion” says Farrah Al-Mansoor, Fox ’14 MBA Candidate and Vice President of Fox Net Impact.

When Fox Board Fellows initially launched in 2009, 6 students were placed on the boards of various non-profit organizations such as Girls Inc., Make a Wish Foundation, Operation Understanding and Fair Food. For 2013-2014, there are 23 students serving 20 different organizations across the city in various ways!

Each non-profit crafts a distinct project for its Fox Board Fellow.  For example, one students helped Habitat for Humanity develop a social media presence, while another helped Habitat refine its Re-Store business model. A Fellow placed with Philadelphia VIP helped create an analysis of their case load that became one of the foundations of a new strategic plan.

The collaboration between Fox Board Fellows and Net Impact works well for both programs. Fox Board Fellows maintains relationships with local non-profit organizations, while Net Impact recruits new Fellows each academic year.  Together, Fox Board Fellows and Net Impact dream up new ways to serve both students and the non-profit community.

Although Fox Board Fellows has come a long way, there are refinements in the works. Bayless wants to create an Alumni Advisory Board for the program, so that alumni who have completed the program will guide the students currently in the program as they navigate the complexities of board governance, a volunteer project, the rest of their classwork, and of course their work and family lives.  Further, in the coming year, Bayless hopes to find a corporate sponsor for the program, which will support additional networking opportunities, speakers, and other events that benefit the fellows and their non-profit sponsors.

Beyond Fox Board Fellows, Bayless hopes that one day the MBA program at Temple University’s Fox School of Business will become the quintessential program for those interested in non-profit management. The combination of the Fox Board Fellow experience, other social entrepreneurship classes, Fox Management Consulting, and participation in Net Impact will give students the necessary skills and reality-driven experience to succeed in a career in non-profit management.

 

Building Better Business Models; An interview with Alexander Osterwalder

Posted on: August 21st, 2013 | by: Debora Charmelus | no comments

You might be surprised to hear that Alexander Osterwalder, entrepreneur and noted business scholar, believes that many firms focus too much attention on selling their products and services. Instead, he encourages them to take a more holistic view, shifting focus from building a better product to building a better business model. Firms that do this typically out compete firms that simply offer a “better product,” and ultimately, they create lasting value for themselves and their customers.

In this interview with Fox School of Business faculty member Dr. Andrew Maxwell, Osterwalder discusses his method for building effective business models.  To Osterwalder, the right business model can be the difference between success and failure, citing Nestle’s Nespresso as an example. When Nestle launched the Nespresso brand, it nearly failed, until the firm adjusted the business model to suit market realities.  With changes in place, Nespresso was a success.

Osterwalder examined alternate business models of hundreds of large and medium companies to develop this framework. Its biggest benefit, Osterwalder notes, is not establishing an optimum business model, but exploring alternate business models that highlight the different outcomes of the firm’s choice. In this way, the business model canvas helps organizations build consensus on the business models that best fit their firms.

Fox Management Consulting (Fox-MC) emphasizes Osterwalder’s approach within its consulting and MBA capstone course. Through Fox-MC, MBA student teams conduct rigorous market research and use those findings to evaluate and develop business models that highlight new opportunities for clients.

This video is product of a collaborative partnership between Canadian Innovation Centre and Temple’s Innovation and Entrepreneurship Institute.  If you are interested in learning about business models, consider the Fox’s Masters of Science in Innovation Management & Entrepreneurship.

 

Fox Management Consulting graduate launches health start up

Posted on: August 5th, 2013 | by: Debora Charmelus | no comments

Fox Management Consulting encouraged us to think outside of the box with the clients and develop solutions to problems.”- Michael Mittelman, CEO of PHmHealth

Michael Mittelman, MBA ‘10,  is a busy man.

When we connected with him to discuss his career path after graduating from the Fox School, he had just finished mentoring young adults on the upsides and pitfalls of entrepreneurship. The right candidate for the job, Mittelman knows what it takes to transform an idea into a business.

Mittelman’s company, PHmHealth began with his own experience. After his grandmother became seriously ill, he saw how difficult it was to oversee her home health care. This led him to create a system that helps home health care agencies increase credibility and maximize patient care. PHmHealth’s smartphone app allows a patient’s friends and family to be able to manage the care of their loved ones even from afar, and most importantly, helps healthcare providers focus on patients. Instead of staring at laptop, trying to shuffle through loads of red tape, healthcare providers can now clock-in by using  Near Field Communication technology, a radio frequency technology that is in most Android devices.

In 2012, Mittelman and PHmHealth won the Fox School of Business’s Be Your Own Boss Bowl, which validated the concept and provided a boost to the company. The competition provided him with mentorship from experienced professionals and a cash prize.  During our interview, Mittelman emphasized the importance of vetting an idea. To win the Be Your Own Boss Bowl, Mittelman had to conduct market research, understand the funding structure of his business and put together the right team. These are principles that he learned while completing his Fox Management Consulting capstone project, as a Fox School Student.

During his time at Fox Management Consulting, Mittelman, a team of students and an executive project manager developed a market entry plan for a Japanese firm. Since the company did not yet have a US presence, Mittelman and his teammates functioned as the firm’s ground team. The team conducted high-quality primary and secondary research, and developed an innovative use for the product – one that would fair well within the US market. This was a lesson that Mittelman claims to have helped him as his own business is approaching the market.

The experiences Mittelman gained at Fox Management Consulting resonated with him when he was competing in the Be Your Own Boss Bowl. Through Fox Management Consulting, Mittelman learned how important product differentiation can be. The knowledge he gained by completing hands-on market research also taught him the value of understanding his product, his market and his competitor. Perhaps the most important lesson he learned during his time at Temple’s Fox School of Business was how funding is the crux of any start-up.

Mittelman uses some of the lessons he learned from Fox Management Consulting and as an entrepreneur to teach to those in the QED program at the Science Center.  ”Our Fox Management Consulting clients and professors expected us to demonstrate leadership and innovation,” Mittelman states.  ”These lessons have really helped me develop my own business.”

 

#askfoxmc

Posted on: July 15th, 2013 | by: Debora Charmelus | no comments

What is perhaps the most compelling part of Fox Management Consulting is the knowledge of our program’s staff. Whether the topic is entrepreneurship, leadership, or planning, those who are a part of Fox-MC are more than willing to share their expertise when confronted with a question. Keeping this in mind, Fox-MC wanted to provide a way for any person to connect to our executive-level faculty in the most efficient way possible. This is why we are introducing the new hash-tag #askfoxmc.

The knowledge within our practice is not limited to just business but also encompasses graduate and undergraduate studies, sustainability, innovation and social entrepreneurship. Those who use this tag on social networking sites can #askfoxmc about business planning, university programs, and so on and receive a response almost immediately. Students who are a part of Fox-MC can use the hash-tag to talk to project managers and exchange ideas with other students. Our clients can use the hash-tag to obtain updates on their projects. Those who want to know about MBA programs can receive honest information from faculty. Business owners and entrepreneurs who may not be familiar with Fox-MC can receive reputable business consulting- all in 140 characters or less.

Try it out now on Twitter, Facebook or even Instagram and let us know, what would you #askfoxmc?

 

Fox Management Consulting contributes to MidAtlantic Farm Credit financing program

Posted on: July 11th, 2013 | by: Brandon Lausch | no comments

Farm Fresh Financing LogoMidAtlantic Farm Credit, a local agricultural lender, has announced new financing and credit options for new-generation farmers and local food-system organizations through its Farm Fresh Financing program.

MidAtlantic Farm Credit, along with Fox Management Consulting (Fox-MC) at Temple University’s Fox School of Business, conducted market research in 2012 that showed that many new-generation farmers and local food-system organizations – such as community supported agriculture programs and marketing consortiums – do not utilize traditional financing options due to weak collateral, poor or inadequate credit histories, and/or cultural disinclinations to borrow money.

Fox Management Consulting is a six-credit, strategy-consulting course for MBAs that integrates academic instruction, work on a live client project and coaching from an executive mentor.

“We’re very happy to see the local food movement continue to grow and attract new growers in new areas,” MidAtlantic CEO Bob Frazee said. “Our Farm Fresh Financing program is designed to help additional producers enter the market, as well as to help current producers grow their businesses to meet a growing demand.”

“The Farm Fresh Financing program is designed to overcome the challenges that typically confront new-generation farmers,” added Frazee, referring to producers who distribute their products through local food channels, and who practice sustainable farming methods, often on a small-scale basis. “Farm Credit has a mission to serve all of agriculture, and we’re excited about the ways our new finance program can help this growing market.”

Sandy Wieber, senior vice president of marketing at MidAtlantic Farm Credit, said the Fox-MC team, through quantitative and qualitative research, helped define the diverse group that Farm Fresh Financing can benefit.

“The students were amazingly, wonderfully professional and listened very well to us,” Wieber said. “They packaged their research together, including identifying the unique challenges for this group. The students conducted detailed interviews that really captured the flavor of the market.”

Farm Fresh Financing coordinates with the lender’s existing StartRight program, which provides resources and financing for young, beginning, small and minority farmers. MidAtlantic Farm Credit is an agricultural lending cooperative owned by its member-borrowers. It provides farm loans for land, equipment, livestock and production, crop insurance, and rural home mortgages. The co-op has more than 10,500 members and approximately $2.1 billion in loans outstanding.

Farmers who are interested in applying for a loan through MidAtlantic Farm Credit’s Farm Fresh Financing program may call 888-339-3334 or visit mafc.com.

 

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