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Brittany JonesAssociate Director Fall 2012
Sycamore Student Ventures: Our Mission• Experiential learning laboratories– Real-world business operations– Real clients
• Rigorous culminating course for all business majors
• Bridge gap between college experience and professional career
Sycamore Business Advisors
SyBA Entrepreneurship
Team
SyBA PCEDO Team
Sycamore Blitz Promotions
Executive Express Cafe
Current Café Teams (2)
Learning Lab Team
Future Café Team
Café Marketing
Team
Sycamore Student Ventures
Organizational Chart: Fall 2012
• Individualized client-focused business services- Strategic Process Consulting- Business Plan- Operational Business Plan- Operational Start Up Plan- Feasibility Study
Sycamore Business Advisors: Services
Parke County Economic Development Organization
A Three Year Vision Using the Strategic Logic Model
Sycamore Business Advisors Presents:
Parke County
Background Information:
• Total Population: 17,342 (2011)• Population Increase from 2001 – 2011: 0.70%• Rockville is largest town and County Seat• State Parks: Turkey Run, Shoals and Shades
Background Information Cont
• Largest private sector employer in Park County is Futurex Industries with 110 full time employees.
• The top 4 Employers in Park County are government run.
• The manufacturing sector provides $28.7 million in annual payroll to Park County residents.
C x R = ED
PCEDO 3 Year Vision
• To add value to Parke County’s stakeholders by means of developing a small to medium sized industry, create strong community involvement, expand the PCEDO’s work force, and increase the PCEDO’s profitability over the next 3 years.
Recommendations
• Focus heavily on marketing material• Build community involvement programs• Collaborate with ISU to establish internship
program• Collaborate with Vermillion Mega Rise
Complex
Org. Learning & Innovation
Internal Process
Value Proposition
Market Success
Financial Success
Current
• Human Resources – 3• Marketing – 1• Finance – 6• Accounting – 9• MIS – 10• Communications - 10
Desired
• Human Resources – 7
• Marketing – 10 • Finance – 8
Current
• Tourism• Increase in population
of .07% from 2001 – 2011
• Tax incentives for new businesses
• Three industrial parks
Desired
• 50+ employee industry
• Community program implemented
• Population increase• Overnight Attraction
Current
• Working with Accelerate West Central Indiana
• Working with SyBA• Working with ISU
marketing project
Desired
• Increase employment/ add unpaid intern
• Help facilitate community engagement
• Develop beneficial relationships
Current
• $10,000 annual budget• No formal grant proposal
process• No overnight attraction• Covered Bridge and
Maple Syrup festivals are biggest tourist attractions
Desired
• New business to increase tax revenue
• Overnight attraction to increase overnighters
• Potential income from wind energy
- Markets county to potential business
-Use tax incentives to attract new business
- Provide revenue to county- Serve as liaison
- Implement development programs- Works with tourism bureau
Strategic Logic Model
Gap Analysis Theory
Current Strategic Plan of Action Desired
Org. Learning & Innovation
Internal Process
Value Proposition
Market Success
Financial Success
Current
• Human Resources – 3• Marketing – 1• Finance – 6• Accounting – 9• MIS – 10• Communications - 10
Desired
• Human Resources – 7
• Marketing – 10 • Finance – 8
Current
• Tourism• Increase in population
of .07% from 2001 – 2011
• Tax incentives for new businesses
• Three industrial parks
Desired
• 50+ employee industry
• Community program implemented
• Population increase• Overnight Attraction
Current
• Working with Accelerate West Central Indiana
• Working with SyBA• Working with ISU
marketing project
Desired
• Increase employment/ add unpaid intern
• Help facilitate community engagement
• Develop beneficial relationships
Current
• $10,000 annual budget• No formal grant proposal
process• No overnight attraction• Covered Bridge and
Maple Syrup festivals are biggest tourist attractions
Desired
• New business to increase tax revenue
• Overnight attraction to increase overnighters
• Potential income from wind energy
- Markets county to potential business
-Use tax incentives to attract new business
- Provide revenue to county- Serve as liaison
- Implement development programs- Works with tourism bureau
Strategic Logic Model
•$10,000 annual budget•No formal grant proposal process•No overnight attraction•Covered Bridge and Maple Syrup festivals are biggest tourist attractions
•New business to increase tax revenue•Overnight attraction to increase overnighters•Potential income from wind energy
Financial Success
Current
Desired
Financial Success (current)
• $10,000 annual budget• Covered Bridge Festival is biggest tourist
attraction (Fall)• Maple Syrup Festival is other major event
(Winter)
Financial (Desired)
• New sources of revenue– A new business in the county to draw in more tax
revenue– An overnight attraction to increase the number of
tourists staying at local hotels (innkeeper’s tax)
Org. Learning & Innovation
Internal Process
Value Proposition
Market Success
Financial Success
Current
• Human Resources – 3• Marketing – 1• Finance – 6• Accounting – 9• MIS – 10• Communications - 10
Desired
• Human Resources – 7
• Marketing – 10 • Finance – 8
Current
• Tourism• Increase in population
of .07% from 2001 – 2011
• Tax incentives for new businesses
• Three industrial parks
Desired
• 50+ employee industry
• Community program implemented
• Population increase• Overnight Attraction
Current
• Working with Accelerate West Central Indiana
• Working with SyBA• Working with ISU
marketing project
Desired
• Increase employment/ add unpaid intern
• Help facilitate community engagement
• Develop beneficial relationships
Current
• $10,000 annual budget• No formal grant proposal
process• No overnight attraction• Covered Bridge and
Maple Syrup festivals are biggest tourist attractions
Desired
• New business to increase tax revenue
• Overnight attraction to increase overnighters
• Potential income from wind energy
- Markets county to potential business
-Use tax incentives to attract new business
- Provide revenue to county- Serve as liaison
- Implement development programs- Works with tourism bureau
Strategic Logic Model
•Tourism•Increase in population of .07% from 2001 – 2011•Tax incentives for new businesses•Three industrial parks
•50+ employee industry•Community program implemented•Population increase•Overnight Attraction
Market Success
Current
Desired
Market Success (Current)
• Tourism: historical sights, festivals, covered bridges, and 3 state parks.
• Population: increased 0.7% between 2001 to 2011
• Tax incentives for new businesses • Three industrial parks established for
immediate use
Market Success (Desired)
• 50+ Employee Industry• Overnight Attraction• Population Increase• Community Program Implemented
Org. Learning & Innovation
Internal Process
Value Proposition
Market Success
Financial Success
Current
• Human Resources – 3• Marketing – 1• Finance – 6• Accounting – 9• MIS – 10• Communications - 10
Desired
• Human Resources – 7
• Marketing – 10 • Finance – 8
Current
• Tourism• Increase in population
of .07% from 2001 – 2011
• Tax incentives for new businesses
• Three industrial parks
Desired
• 50+ employee industry
• Community program implemented
• Population increase• Overnight Attraction
Current
• Working with Accelerate West Central Indiana
• Working with SyBA• Working with ISU
marketing project
Desired
• Increase employment/ add unpaid intern
• Help facilitate community engagement
• Develop beneficial relationships
Current
• $10,000 annual budget• No formal grant proposal
process• No overnight attraction• Covered Bridge and
Maple Syrup festivals are biggest tourist attractions
Desired
• New business to increase tax revenue
• Overnight attraction to increase overnighters
• Potential income from wind energy
- Markets county to potential business
-Use tax incentives to attract new business
- Provide revenue to county- Serve as liaison
- Implement development programs- Works with tourism bureau
Strategic Logic Model
• Markets county to potential business
• Use tax incentives to attract new business
• Provide revenue to county
• Serve as liaison• Implement development
programs• Works with tourism
bureau
Value Proposition
PCEDO Value Proposition
• Markets the county to prospective businesses using the resources available in order to provide employment and revenue to Parke County and its strategic stakeholders
• V – Value Is the service valuable? R – Rarity Is the service rare? I – Imitability Is the service imitable? O – Organization Does the organization deliver
their service in a unique way?
Sustainable Competitive Advantage
• The ability to sustain a long term advantage through differentiation.
• What allows a business organization to experience long term success through differentiation or specialization.
• Delivering service in unique way
PCEDO Value Proposition• Valuable
– PCEDO delivers a service that is valuable to Parke County.– Aims to grow community, industry, and revenue
• Rarity– PCEDO services are rare; Only service that delivers economic development to
Parke County– PCEDO has rare resources, networks, and funding
• Imitability– PCEDO services are not easily imitated – Hard for new organizations to gain access to resources, networks, skills, and
credibility possessed by PCEDO
• Organization– The PCEDO internal processes do not differentiate themselves from the market– PCEDO faces competition for limited resources
PCEDO Value Proposition
• PCEDO must create a sustainable competitive advantage in order to deliver on the value proposition
• The sustainable competitive advantage of PCEDO will be created when the organization creates unique internal process that differentiates their organization from competing economic development organizations.
Org. Learning & Innovation
Internal Process
Value Proposition
Market Success
Financial Success
Current
• Human Resources – 3• Marketing – 1• Finance – 6• Accounting – 9• MIS – 10• Communications - 10
Desired
• Human Resources – 7
• Marketing – 10 • Finance – 8
Current
• Tourism• Increase in population
of .07% from 2001 – 2011
• Tax incentives for new businesses
• Three industrial parks
Desired
• 50+ employee industry
• Community program implemented
• Population increase• Overnight Attraction
Current
• Working with Accelerate West Central Indiana
• Working with SyBA• Working with ISU
marketing project
Desired
• Increase employment/ add unpaid intern
• Help facilitate community engagement
• Develop beneficial relationships
Current
• $10,000 annual budget• No formal grant proposal
process• No overnight attraction• Covered Bridge and
Maple Syrup festivals are biggest tourist attractions
Desired
• New business to increase tax revenue
• Overnight attraction to increase overnighters
• Potential income from wind energy
- Markets county to potential business
-Use tax incentives to attract new business
- Provide revenue to county- Serve as liaison
- Implement development programs- Works with tourism bureau
Strategic Logic Model
Gap Analysis Theory
Current Strategic Plan of Action Desired
Rated on a scale of 1 through 10White number represents where you need to beOrange represents where you are currently
•Operations - 4•Human Resources – 3•Marketing – 1•Finance – 6•Accounting – 9•MIS – 10•Communications - 10•Operations - 10•Human Resources – 7 •Marketing – 10 •Finance – 8
Internal Process
Current
Desired
Internal Processes - Operations
• Current– Carried out by Kristin with county board approval– Attend site selection networking events – Manages unsold foreclosed properties– Provides loans to develop small businesses– Works with West Central Indiana Accelerate Program
• Desired– Improve internal process to exploit operations more
efficiently
0 4 _ _ 10.
Internal Processes – Human Resources
• Current– 1 employee– Current effectiveness ranking 3
• Desired– 1 additional full time employee– Intern from ISU– Desired effectiveness 7
0 3 7 10
Internal Processes - Marketing
• Current– No brochure, no business cards, no website– Current effectiveness ranking 1
• Desired– Have professional website, business cards, and
brochure– Have marketing plan in place– Desired effectiveness 10
0 1 10.
Internal Processes - Finance
• Current– $5,000 a year, $100,000 available for loans to businesses,
$500,000 in TIF funds.– Current effectiveness ranking 6
• Desired– Have a TIF fund of 1.5 million– Have structured fundraising programs– Have 15K per year for operations– Desired effectiveness 8
0 6 8 10.
Internal Processes
• Communication– Very involved in community engagement– Current effectiveness 10
0 10• Management Information Systems
– Current effectiveness ranking 10 0 10
• Accounting– Kristin does all of the accounting– Current effectiveness ranking 9
0 10
Org. Learning & Innovation
Internal Process
Value Proposition
Market Success
Financial Success
Current
• Human Resources – 3• Marketing – 1• Finance – 6• Accounting – 9• MIS – 10• Communications - 10
Desired
• Human Resources – 7
• Marketing – 10 • Finance – 8
Current
• Tourism• Increase in population
of .07% from 2001 – 2011
• Tax incentives for new businesses
• Three industrial parks
Desired
• 50+ employee industry
• Community program implemented
• Population increase• Overnight Attraction
Current
• Working with Accelerate West Central Indiana
• Working with SyBA• Working with ISU
marketing project
Desired
• Increase employment/ add unpaid intern
• Help facilitate community engagement
• Develop beneficial relationships
Current
• $10,000 annual budget• No formal grant proposal
process• No overnight attraction• Covered Bridge and
Maple Syrup festivals are biggest tourist attractions
Desired
• New business to increase tax revenue
• Overnight attraction to increase overnighters
• Potential income from wind energy
- Markets county to potential business
-Use tax incentives to attract new business
- Provide revenue to county- Serve as liaison
- Implement development programs- Works with tourism bureau
Strategic Logic Model
Org. Learning & Innovation
• Working with Accelerate West Central Indiana
• Working with SyBA• Working with ISU
marketing project• Increase employment/ add unpaid intern
• Help facilitate community engagement
• Develop beneficial relationships
Current
Desired
Organizational Learning and Innovation (Current)
• Working with Accelerate West Central Indiana• Working with SyBA• Working with ISU marketing project
Organizational Learning and Innovation (Desired)
• Continue strategic alliances with ISU and develop alliances with local economic development organizations.
• Subscribe to local economic development e-journals
• Build an Advisory Counsel
Org. Learning & Innovation
Internal Process
Value Proposition
Market Success
Financial Success
Current
• Human Resources – 3• Marketing – 1• Finance – 6• Accounting – 9• MIS – 10• Communications - 10
Desired
• Human Resources – 7
• Marketing – 10 • Finance – 8
Current
• Tourism• Increase in population
of .07% from 2001 – 2011
• Tax incentives for new businesses
• Three industrial parks
Desired
• 50+ employee industry
• Community program implemented
• Population increase• Overnight Attraction
Current
• Working with Accelerate West Central Indiana
• Working with SyBA• Working with ISU
marketing project
Desired
• Increase employment/ add unpaid intern
• Help facilitate community engagement
• Develop beneficial relationships
Current
• $10,000 annual budget• No formal grant proposal
process• No overnight attraction• Covered Bridge and
Maple Syrup festivals are biggest tourist attractions
Desired
• New business to increase tax revenue
• Overnight attraction to increase overnighters
• Potential income from wind energy
- Markets county to potential business
-Use tax incentives to attract new business
- Provide revenue to county- Serve as liaison
- Implement development programs- Works with tourism bureau
Strategic Logic Model