Kevin Hub and Lori Jones
This paper considers boundary spanning in relation to the creation of an executive-in-residence position at a midwestern comprehensive university and the resulting impact on…
Abstract
Purpose
This paper considers boundary spanning in relation to the creation of an executive-in-residence position at a midwestern comprehensive university and the resulting impact on school–university partnerships.
Design/methodology/approach
This paper is a case study. The researchers chronicle several current and ongoing school–university partnerships.
Findings
The creation of an executive-in-residence position is a unique approach to creating and strengthening school–university partnerships. This paper provides information and creates awareness of the potential benefits of using this approach within the context of the reader.
Originality/value
With increasing expectations and decreasing resources, it is as important now as ever to encourage the development of school–university partnerships. This paper is focused on practitioners with enough detail for replication.
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The Home Depot case is a great story. It's about entrepreneurship, growth, CEO leadership, and the dramatic impact, good and bad, a CEO can have on a company's growth culture…
Abstract
The Home Depot case is a great story. It's about entrepreneurship, growth, CEO leadership, and the dramatic impact, good and bad, a CEO can have on a company's growth culture, strategy, and performance. Home Depot had faced market growth challenges for the last seven years as it tried in numerous ways to reignite its growth engine. The case explores the growth strategies of CEOs Bernie Marcus, Arthur Blank, and Blank's successor Bob Nardelli, a former GE executive. After examining Home Depot's growth history, the case challenges students to devise a growth strategy for the company under a new CEO.
In 2007, Best Buy was the leading electronics retailer in the United States with more than 941 stores, revenue totaling $31 billion, and a market cap of $21 billion. In 2005, Best…
Abstract
In 2007, Best Buy was the leading electronics retailer in the United States with more than 941 stores, revenue totaling $31 billion, and a market cap of $21 billion. In 2005, Best Buy had adopted a new business model, culture, and customer-segmentation template called Customer Centricity. This move created volatility in the price of Best Buy stock because of the higher-than-expected employee costs that went with this new way of doing business and the difficulty of executing the old and the new business models simultaneously while the new model was rolled out. Best Buy responded to Wall Street's short-term focus in a myriad of ways. It first asked for investor patience, and stressed the strong operating results achieved in Best Buy stores operating under the new model. But in June 2007, after the stock dropped again, the CEO knew he had to decide whether to open more Best Buy stores, increase the company's dividend, or increase the stock-repurchase program.
Tiffany & Company was the leading U.S. luxury jewelry brand, generating more than $2.6 billion in revenue through 167 retail outlets globally and from catalogue and Internet…
Abstract
Tiffany & Company was the leading U.S. luxury jewelry brand, generating more than $2.6 billion in revenue through 167 retail outlets globally and from catalogue and Internet sales. For nearly 170 years, Tiffany had managed its brand. In February 2007, a hedge fund, Trian Fund Management LP, announced that it had bought a 5.5% stake in Tiffany, and became its largest shareholder. Trian believed that Tiffany was undervalued and stated that it wanted to help the company “improve its earnings per share by addressing various operational and strategic issues.” In response, Tiffany began to consider different actions to increase shareholder value.
Elizabeth E. Richard, Jeffrey R. Davis, Jin H. Paik and Karim R. Lakhani
This paper presents NASA’s experience using a Center of Excellence (CoE) to scale and sustain an open innovation program as an effective problem-solving tool and includes…
Abstract
Purpose
This paper presents NASA’s experience using a Center of Excellence (CoE) to scale and sustain an open innovation program as an effective problem-solving tool and includes strategic management recommendations for other organizations based on lessons learned.
Design/methodology/approach
This paper defines four phases of implementing an open innovation program: Learn, Pilot, Scale and Sustain. It provides guidance on the time required for each phase and recommendations for how to utilize a CoE to succeed. Recommendations are based upon the experience of NASA’s Human Health and Performance Directorate, and experience at the Laboratory for Innovation Science at Harvard running hundreds of challenges with research and development organizations.
Findings
Lessons learned include the importance of grounding innovation initiatives in the business strategy, assessing the portfolio of work to select problems most amenable to solving via crowdsourcing methodology, framing problems that external parties can solve, thinking strategically about early wins, selecting the right platforms, developing criteria for evaluation, and advancing a culture of innovation. Establishing a CoE provides an effective infrastructure to address both technical and cultural issues.
Originality/value
The NASA experience spanned more than seven years from initial learnings about open innovation concepts to the successful scaling and sustaining of an open innovation program; this paper provides recommendations on how to decrease this timeline to three years.
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The purpose of this paper is to provide a “Q&A interview” conducted by Joanne Pransky of Industrial Robot Journal as a method to impart the combined technological, business and…
Abstract
Purpose
The purpose of this paper is to provide a “Q&A interview” conducted by Joanne Pransky of Industrial Robot Journal as a method to impart the combined technological, business and personal experience of a prominent, robotic industry engineer-turned entrepreneur regarding his pioneering efforts in the industrial robot industry and the commercialization and challenges of bringing robotic inventions to market. This paper aims to discuss these issues.
Design/methodology/approach
The interviewee is Charlie Duncheon, CEO, Cofounder and Chairman of the Board at Celltrio, Inc, a manufacturer of automation-based solutions for the life sciences industry. Duncheon shares his nearly 40-year journey as a robotics industry executive and entrepreneur, including his achievements and challenges.
Findings
Charlie Duncheon received a Bachelor of Science in industrial engineering from Purdue University and an MBA from Southern Illinois University, Edwardsville. At Monsanto, the first company he worked for after college, he worked his way up to be the Chairman of the Corporate Robotics Task Force. Duncheon then chose to work for the startup Fared Robot Systems, Inc., where he became the VP of Sales. In 1984, he joined Adept Technology at its inception and became Senior VP. About 20 years later, Duncheon founded his own consulting company, Duncheon Associates, and from the multiple consulting contracts he executed in automation, he was asked four different times to serve as the company CEO of the new companies: Artificial Muscle, Inc., EIG America, Grabit, Inc. and Celltrio, Inc., the last three which he also cofounded.
Originality/value
Charlie Duncheon, with a passion for robotic engineering and love for new challenges, led seven different robot companies to successful growth. His major accomplishments include establishing an unprecedented worldwide channel of 100+ integrators while at Adept Technology, growing Adept to $100m+ revenues and an initial public offering; being promoted to CEO of Artificial Muscle, Inc., later acquired by Bayer Material Science LLC; founding EIG America and transferring lithium battery technology from EIG Korea to the US market; and cofounding Grabit, Inc., raising two venture backed rounds of several million dollars. Duncheon is the recipient of the Joseph Engelberger Award for Leadership in Robotics. He is currently an Executive in Residence at Purdue University and a mentor for Plug and Play Tech Center. He was elected President of the Robotics Industries Association (RIA) and served a total of eight years on the RIA Board. He holds patents for automated material handling and electroadhesion grippers. His proudest accomplishment was the successful publication of his book, Reflections of a 5th Grade Girls Basketball Coach.
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The future state visioning process, a powerful management tool for initiating strategic change, stresses the development of stakeholder understanding and commitment as it builds a…
Abstract
The future state visioning process, a powerful management tool for initiating strategic change, stresses the development of stakeholder understanding and commitment as it builds a solid, principled base for action. It forces the leadership to look long term. Expressing the values underlying the issues is an integral part of the process, during which fundamental beliefs are surfaced, examined, and brought up to date.
Liz Foote, Phill Sherring and Sharyn Rundle-Thiele
In this paper we (a pracademic, a practitioner, and an academic) aim to explore the academic/practitioner gap in social marketing and offer recommendations to close it, while…
Abstract
Purpose
In this paper we (a pracademic, a practitioner, and an academic) aim to explore the academic/practitioner gap in social marketing and offer recommendations to close it, while amplifying existing examples of best practice from within the field. We also propose a research agenda to spur dialog and guide further investigations in this area. Insights from prior research, coupled with the co-authors’ experience and observations, indicate that a disconnect does exist between academia and practice within social marketing, though it is admittedly and unsurprisingly not uniform across contexts and disciplinary areas. Given social marketing’s identity as a practice-oriented field, there are many existing examples of academic/practitioner collaboration and the successful linkage of theory and practice that deserve to be amplified. However, the challenges associated with the very different systems and structures affecting both worlds mean the disconnect is problematic enough to warrant systematic change to ensure the two worlds are more aligned.
Design/methodology/approach
This paper (a pracademic, a practitioner and an academic) explores the academic/practitioner gap in social marketing and offer recommendations to close it, while amplifying existing examples of best practice from within the field. The authors also propose a research agenda to spur dialog and guide further investigations in this area.
Findings
The authors suggest five key reasons that focus should be placed upon closing the academic/practitioner gap in social marketing: demonstrating societal value by contributing to practice; embedding and developing theories in practice; adding to the social marketing literature; contributing to social marketing teaching; and communicating the value and effectiveness of social marketing. To close the gap, the authors propose specific recommendations within four broad areas: marketing the academia and practitioner collaboration offer; building ongoing relationships; creating collaborative partnerships; and changing the publishing model ensuring communications are accessible to all. They also suggest ways for social marketing associations and peak bodies to play a role.
Originality/value
The concept of a disconnect between academia and practice is by no means new; it has been a pervasive issue across disciplines for decades. However, this issue has not been the subject of much discussion within the social marketing literature. Recommendations outlined in this paper serve as a starting point for discussion. The authors also acknowledge that due to long standing “bright spots” in the field, numerous examples currently exist. They place an emphasis upon highlighting these examples while illuminating a path forward.
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John Winsor, Jin Paik, Mike Tushman and Karim Lakhani
This article offers insight on how to effectively help incumbent organizations prepare for global business shifts to open source and digital business models.
Abstract
Purpose
This article offers insight on how to effectively help incumbent organizations prepare for global business shifts to open source and digital business models.
Design/methodology/approach
Discussion related to observation, experience and case studies related to incumbent organizations and their efforts to adopt open source models and business tools.
Findings
Companies that let their old culture reject the new risk becoming obsolete if doing so inhibits their rethinking of their future using powerful tools like crowdsourcing, blockchain, customer experience-based connections, integrating workflows with artificial intelligence (AI), automated technologies and digital business platforms. These new ways of working affect how and where work is done, access to information, an organization’s capacity for work and its efficiency. As important as technological proficiency is, managing the cultural shift required to embrace transformative industry architecture – the key to innovating new business models – may be the bigger challenge.
Research limitations/implications
Findings are based on original research and case studies. Insights are theoretically, based on additional study, interviews, and research, but need to be tested through additional case studies.
Practical implications
The goal is to make the transition more productive and less traumatic for incumbent firms by providing a language and tested methods to help senior leaders use innovative technologies to build on their core even as they explore new business models.
Social implications
This article provides insights that will lead to more effective ideas for helping organizations adapt.
Originality/value
This article is based on original research and case experience. That research and experience has then been analyzed and viewed through the lens of models that have been known to work. The result is original insights and findings that can be applied in new ways to further adoption within incumbent organizations.