Early last Thursday evening, the 1810 Accelerator hosted the most recent installment of Temple’s Innovation Leader Speaker Series; a panel discussion on Agile Product Development. This round of innovation-based discussion was led by Kerry Slade, Assistant Academic Director for the Innovation & Entrepreneurship Institute, and featured examples of how the agile method is used to develop software, by Dell Boomi (“Boomi”), and hardware, by Armstrong World Industries (“Armstrong”).
Tiffany Powley, Agile Coach and Project Manager at Dell Boomi, first explained the origin of agile in The Agile Manifesto, created by a group of software developers in 2001 to improve the way projects are executed. The manifesto outlined the following guiding themes: individuals and interactions over processes and tools; working software over comprehensive documentation; customer collaboration over contract negotiation; and responding to change over following a plan. Ms. Powley described how Boomi uses this method regularly to connect clients’ datasets and release software to them incrementally.
After laying out the agile framework, the panel heard from Director of Global Innovation at Armstrong, Steve Wilkinson, and Armstrong engineer, Jason Cavanaugh.
Steve decided to use the agile method he had learned about at an Innovation Research Interchange conference in 2017 to attack the longstanding problem of creating a ceiling that was seamless and would also absorb sound. Jason described that the team consisted of five members (a senior chemist, two mechanical engineers and two technicians) led by a Scrum Master, essentially a project manager. The process was a success and their result was ACOUSTIBuilt™, a non-cannibalizing new type of ceiling solution. By implementing an agile strategy, the engineering team at Armstrong was able to successfully bring a product to market in less than 18 months, while involving installers and customers in the development process.The Panelists closed the discussion with thoughts on how the agile method complements each company’s leadership development strategy.
The Innovation Leaders Speaker Series, presented in partnership by the Fox School of Business at Temple University, the Product Development and Management Association, and the Innovation Research Interchange, addresses the intersection between innovation and entrepreneurship, and features leaders in the field who have successfully put these principles into practice at organizations of all sizes and industries. For more information, contact Assistant Academic Director, Kerry Slade at email@example.com
It was Philadelphia that Ben Franklin called home when he tied a key to a kite, flew it during a storm, got struck by lighting and discovered the harnessing power of electricity. Since then, the City of Philadelphia has not only been known as the birthplace of our country but a haven for thinkers, innovators and misfits looking to create the next big thing. Commonly known as the City of Brotherly Love, it was here that Todd Carmichael, founder and CEO of La Colombe Coffee, felt he could live up to his full potential.
Last Friday morning, Todd joined the Innovation & Entrepreneurship Institute’s Executive Director, Ellen Weber, for a sit down conversation about what it takes to be an innovator, changes in the coffee industry, and the core values he championed when starting La Colombe Coffee. Todd began by explaining how he views innovators, and his belief that “innovation favors the restless and the unhappy.”
When Todd moved to Philadelphia in the 1980’s, he was at the bottom and so was the city. “Everything starts with an urge, and if you’re going to get on the elevator it might as well be at ground zero,” explained Carmichael. He moved into a cheap apartment in Rittenhouse Square, and opened his first La Colombe cafe. When he began, all that he knew was that he wanted to be what his grandfather always taught him to be—a decent person. He wanted to create a decent company.
To his surprise, the first several months were spent explaining to customers—used to drinking regular hot coffee—about lattes, cappuccinos, and the many variations of coffee that can make it such a treat. The La Colombe brand began to grow into the industry staple it is today, and Carmichael noted that its always been clear to him that innovation played a role in continual market shifts—even if they weren’t always thought of as “innovations.” The biggest of them all? What Carmichael referred to as the “ice age” of coffee—the beginning of drinking your coffee cold, now a societal norm.
In realizing the importance of innovation in the continued success of any large company, Carmichael makes it a priority in La Colombe’s overall business strategy. “In any company, innovators have to be in close proximity to the decision makers,” Carmichael emphasized. He meets with his innovation team twice a week, for at least four hours each time. “If you lessen the importance of the innovation team, they become cost savers, less like dreamers, and your company will get left behind.”
The Innovation Leader Speaker Series is an on-going series that features breakthrough leaders in innovation from a variety of industries from food and beverage to the medical industry. For more information on additional upcoming events from the Innovation and Entrepreneurship Institute visit iei.temple.edu or email us at firstname.lastname@example.org.
On Wednesday, February 19, Owner of Genzer Associates, Rick Gezner, came to Fox to speak to students about how to create a competitive business analysis by discussing perceptual maps, competitor matrix, industry structure and environment.
A leader of business and technology since 1986, Rick has held roles ranging from software engineer to executive vice president and chief technology officer. As an independent management consultant, Rick has also started five of his own businesses in the Greater Philadelphia area.
Throughout the workshop, Rick put an emphasis on the significance of competition in the business industry. He explained how important it is to define, understand, address and develop strategy for your company as well as know who, where, what, how and how much the competition is to your business.
Rick explained the biggest problem in all business is the “last mile,” also known as shipping and transportation. This is because it has a geometric effect on cost and the smallest disruption will cause a problem. He advises, “If you are in a new market with a new product, you have to educate the entire market. If you jump in where competition exists, you don’t have to explain. Don’t shy away from competition.”
As a last key note, he shared entrepreneurs must always stay on message and be very crisp, no matter the circumstance!
In a recent day-long visit to the Fox School of Business, legendary business strategist Michael E. Porter addressed two different audiences – Fox MBAs and Philadelphia executives – on two different topics: creating shared value through business and addressing the looming challenges of U.S. competitiveness.
While his presentations differed in substance, they were unified in a single call to action: Make business, and thereby the world, better.
“Making a profit is the most fundamental, powerful thing on this earth for making life better,” Porter told Fox graduate students in an afternoon presentation March 11, adding later, “If we can get businesses in the business of solving societal problems – as businesses – we truly have something exciting.”
Porter, the Harvard professor most renowned for his Five Forces analysis – a pillar of business strategy globally and taught to nearly every business student – visited Fox as part of the school’s ongoing Innovation Leadership Speaker Series (ILSS).
Mercedes Delgado, assistant professor of strategic management at the Fox School, facilitated Porter’s visit. Delgado, whom Porter called a “stunning young scholar,” is a partner on Porter’s research on innovation clusters and competitiveness as a senior associate of his Institute for Strategy and Competitiveness at Harvard Business School.
In his presentation to Fox MBAs, Porter discussed the role of business in society as creating shared value (CSV), which he described as the next step to corporate philanthropy and social responsibility in that CSV offers more impact because it addresses significant societal needs through scalable business models.
For example, Porter said CSR would see fair trade as paying a higher price to farmers and certifying the goods as such. This, Porter said, is redistribution of wealth. CSV, meanwhile, would transform procurement and provide more collaboration with farmers, therefore improving quality and yield. Farmers could charge higher prices for higher-quality goods, and higher yield would increase quantity, improving the supply chain.
“These companies aren’t being good guys. They aren’t giving a donation,” Porter said of the CSV approach. “What are they doing? Capitalism.”
And that was his underlying message to the MBAs: Social needs represent the largest underserved market opportunity, and businesses can’t approach profit and societal impact as tradeoffs. They’re one in the same.
“Take the discipline of creating economic value but apply it to a larger aperture – that’s real purpose,” he said.
At an evening event at the Union League of Philadelphia with approximately 200 business leaders, Porter discussed the looming challenges of U.S. competitiveness. A fundamental threat: Living conditions for average Americans aren’t improving. “It’s not the recession,” Porter said. “It’s not temporary. It’s structural.”
America’s weaknesses, Porter said, include its tax code, K-12 education and its divisive political system. The country’s decisive strengths are the protection of property rights, innovation and entrepreneurship, universities, and innovation clusters, such as Wall Street, Hollywood, and Silicon Valley.
“I’m deeply optimistic, because the hard stuff, we’re good at,” Porter said. “But we’ve let the basics be taken over by politics and false divisiveness.”
And that divisiveness is contributing to America losing its competitive edge.
The Fox School’s Department of Strategic Management, Innovation and Entrepreneurship Institute, and Office of Research, Doctoral Programs, and Strategic Initiatives organized Porter’s visit. The Fox Innovation Leadership Speaker Series seeks to transform organizations into innovation-driven industry leaders by turning innovation research into practice. Speakers are internationally acclaimed experts who share their insights in applying proven and effective management tools for firms, large and small.
The next ILSS event, on April 24, will feature Michael E. Raynor discussing Strategy vs. Innovation: A Scientific Approach. For details, visit www.fox.temple.edu/innovation