- Declining availability
- Increasing demand
- Declining water quality
- Inadequate infrastructure
- Ken Thompson, Global Practice Lead Smart Cities/Smart Sensors and President SWAN Council
- John Stauch, CFO, Pentair
- Water Reuse Panels: Taking reuse mainstream: state and industry perspectives
- U.S Commercial Service: Global opportunities in water
- Smart Water Panel: Intelligent business methodologies to modernize innovation in water
- University of Minnesota student lightning rounds
- Steve Woods,Executive Director, Freshwater Society
- Rebecca J. Flood, Assistant Commissioner, Minnesota Pollution Control Agency
- Paul Allwood, Assistant Commissioner, Minnesota Department of Health
- Kelly Lange-Haider, Dow Water and Process Solutions
- Blake Schomas,Director of Marketing – Total Plant Assessments
- Nalco Water, an Ecolab company
- Monica McFarlane Scott, Senior International Trade Specialist, U.S. Commercial Service Minnesota
- China: Aimee Jia,Commercial Assistant U.S. Consulate Guangzhou
- China: Shiqiao (Sophia) Chen,Senior Commercial Specialist, U.S. Consulate Shanghai
- Philippines: Bebe Montesines,Commercial Specialist, U.S. Embassy Philippines
- Singapore: Chan Yiu Kei,Senior Commercial Specialist, U.S. Embassy Singapore
- India: Arup Mitra,Senior Commercial Specialist, U.S. Consulate Kolkata
- New Zealand: Dhiraj Mani,Commercial Specialist, U.S. Consulate Auckland
- Saudi Arabia: Mohammed Shajaddin,Commercial Specialist, U.S. Consulate Dhahran
- South Africa: Mohammed Essay,Commercial Specialist, U.S. Consulate Johannesburg
- Brazil: Teresa Wagner,Senior Commercial Specialist, U.S. Consulate Sao Paulo
- Ken Thompson, Global Practice Lead Smart Cities/Smart Sensors and President SWAN Council
- Jen Nowlin, Principal, Accredent
- Bill Gray, CEO, Uponor North America
- Sunidh Jani, Manager, 3M Ventures
- Dana Lonn, Managing Director, Center for Technology, The Toro Company
- Paige Novak: Joseph T. and Rose S. Ling Chair in Environmental Engineering, Co-Director, MnDRIVE: Environment
- Xue Zhen
- Michael Schwab
- Jovan Popovic
- David Goldfeld
- Hanna Miller
- John Stauch, CFO, Pentair
DESTINATION MEDICAL CENTER. The sun was shining as we strolled along the Zumbro River in Rochester, MN on this beautiful day in May. I was part of a small group on walking tour hosted by the Rochester Destination Medical Center (DMC). Over 200 real estate and economic development professionals would come together within the next hour for the Real Estate Development & Investment Summit; however, I had the opportunity to start my day exploring the four DMC districts and learning about the businesses that were contributing to the growth of this vibrant city.
Each district (Downtown Waterfront, Discovery Square, Heart of the City and St. Mary’s Place) had its own unique characteristics with a common theme of community. We learned of the new buildings that will be built and the historic ones that were being preserved and repurposed.
Rochester continues to find ways to welcome its numerous visitors and entertain its residents. Outdoor concerts are prevalent all year round and this evening would be no exception. The festivities celebrating the opening of the newly renovated Mayo Civic Center would include live music and fireworks.
By their own definition, “DMC is a unique 20-year economic development initiative. The $5.6 billion plan is the largest in Minnesota history.” Innovation is one of the nine key attributes of the city and Discovery Square is the “first-of-its-kind urban research campus, fostering innovation in the life science industry.”
Rochester’s focus on innovation is creating competitive advantages for the city, region and state. The Summit highlighted DMC’s role in driving the economic growth through 18+ identified development projects and the impact on industries such as construction and finance as well as on entrepreneurs. Rochester has many assets and their ability to focus is cultivating opportunities for residents, industry, and entrepreneurs.
The Summit began with a warm welcome from Mayor Brede and the agenda included:
12:05 PM State and Regional Market Forces and the Impact on the Rochester Real Estate Community
Doug Holtan, Chair, Department of Facilities and Support Services, Mayo Clinic
• Why Mayo Clinic will continue to grow as a World Health care destination and what will the future real estate needs be to support this
• Mayo Clinic’s Major Infrastructure Updates recently completed and what other updates need to happen to help continue the growth in Rochester
• How Mayo Clinic has become a regional power for business and commerce
• How the increased number of Mayo Clinic visitors has impacted the real estate market in Rochester
12:45 PM Rochester Attributes: Understanding the Rochester environment
Brad Jones, Rochester Convention and Visitors Bureau
• Community Characteristics
• Community Profile
• Economic Profile
• Education/Transportation Profile
1:45 PM Destination Medical Center Plan: Game changer for Rochester
Lisa Clarke, Destination Medical Center, Economic Development Agency
• Why the emphasis on Destination Medical Center
• How did the market research inform the plan
• Land use plan and effects on downtown real estate market
• Financing tools for promoting growth
• Current State of the Market – Commercial & Residential Real Estate
• How will Discovery Square impact growth in Rochester
2:30 PM Destination Medical Center Progress and growing momentum
Jon Buggy, RSP Architects
Richard Freese, City of Rochester
Jeremy Jacobs, Mortenson
Patrick Seeb, Destination Medical Center, Economic Development Agency
• Case Study 1: How the plan is being used in private development and investment
• Case Study 2: How the plan is being used to redevelop key public spaces in the city
• Case Study 3: How the plan is being used to shape short- and long-term transit and transportation decisions
3:15 PM Rochester’s New Developments & Opportunities and the Impact to the community
• Developer Spotlights
• Construction Spotlights
• Organizational Partner Spotlights
• Entrepreneur Spotlights
• Capital/Finance Spotlights
4:00 PM Adjourn
4:00 – 5:30 PM Reception
5:30 PM Mayo Civic Center Ribbon Cutting
“The landscape of real estate and development in Rochester is changing,” says Patrick Seeb, DMC’s director of economic development and placemaking. “People from around the world are now seeing the city as a viable place to start, grow, and expand a business.”
INNOVATION AT OPTUM
Optum hosted the most recent Product Management and Development Association (PDMA) meeting. The event was well attended by product development and management practitioners, academics and service providers in a variety of industries and knowledge areas, including new product process, strategy innovation, market research, tools & metrics, organizational issues and portfolio management.
The evening began with a tour of the impressive Optum® Experience Center in Eden Prairie. The high-tech space is used to highlighted the changing health care landscape while demonstrating new partner and customer-focused products and services. Some of the Center’s features included: (1) a media wall using multi-touchscreen technology, (2) the Showcase, featuring 270-degree projected imagery and video, (3) an Optum Operations Center providing real-time access to Optum activity worldwide, and (4) a range of collaboration spaces.
Next, a panel of product development professionals shared the essential need for the convergence of product development and data analytics in order to improve the customer experience, and in turn, the acceptance and profitability of a new product in the marketplace.
The Product Development and Management Association (PDMA) is a community of more than 2,000 members whose skills, expertise and experience power the most recognized and respected innovative companies in the world. It specifically focuses on the unique set of integrated activities involved in the full lifecycle of product development and management, including innovation.
- Maintaining the pulse on retail innovations and innovators
- Exposure to startups
- An opportunity create the future of retail
- Ryan Broshar, Techstars, managing director
- Atif Siddiqi, Branch Messenger, founder and ceo
- Kirstin Nielson, Target, director of innovation
WORKFORCES THAT CAN INTEGRATE INSIGHTS
The newly hired CEO of a growing company recently shared that one of her key challenges is finding leadership talent. She is specifically looking for executives that have the skill to use data and analytics to lead them into new areas. In getting to know her executive team, she asked a senior leader how he used data to report productivity and business metrics, collaborate with colleagues, support customers and engage the right partners. This executive showed the CEO a PowerPoint that was periodically used to communicate with the executive board; however, it lacked key analytics and insights. Further requests for a presentation utilizing standard integrated data have been unsuccessful. Delivering this type of reporting has been a real struggle for this executive. The CEO is concerned and believes the lack of this capability will impact the organization’s ability to be agile and make decisions.
What are the specific skills and competencies needed to lead in a data-driven culture?
How can companies find a workforce with this talent?
A recent Gallop article stated that “Companies that seek to generate meaningful business insights need to shift….to a culture capable of integrating insights into day-to-day business process and decision-making.” The article’s main focus is on the importance of ascertaining the right data that will inform business decisions and how it will be analyzed. But it also alludes to the enormous challenge companies are facing finding this critical workforce.
A key challenge is identifying the right talent which can create and work effectively in this culture. It is worth noting that this culture is transparent at its core; a freeing aspect compared to many closed organizations. And the benefits can be astounding for both individuals and the company. Individuals are empowered by improved access to information and an open, collaborative, and continuous-learning environment. Companies become more focused as decisions are fact-based and priorities are better defined.
Areas to consider when searching for this critical workforce include:
- Powerful connections. Utilizing a revised definition of talent, companies can find currently underutilized, unidentified, hidden and combined members of the workforce.
- Underutilized. Re-evaluate an existing workforce in new ways to find employees ready and willing to move into roles that advance the company’s ability to realize its competitive advantage.
- Unidentified. In addition, defining talent opens up the opportunity for leadership to tap into the connections they make at professional organizations, a non-profit fundraiser or a soccer game. Finding talent becomes easier when the definition is clear.
- Hidden. This will also enable connections to the highly-skilled but hidden workforce of the experienced worker, who may or may not be currently traditionally employed, but has developed a wealth of leadership abilities throughout their career. Their error is in not creating and communicating a robust personal brand and promoting their own abilities. It is, however, a bigger mistake for companies not to know how to better identify it.
- Combined. Another commonly hidden resource is teams. Often the answer is not in selecting one right new resource but in selecting several. There is power in combining people’s strengths.
- The definition of talent. How a company defines talent is critical to its success. Does your company still evaluate leadership candidates based on achievements in a non-managerial role or tenure? By expanding the definition beyond experience and skills to include how people think, feel, and behave companies can find leaders with the capabilities needed to build teams, quickly assess data, think holistically and tell a great story.
- Values. Companies need to embrace a open and collaborative culture. The goal being to attract and retain talent that have the ability to be these new types of leaders. This environment brings new continuous knowledge and expertise to the leadership team. This is essential in enabling the company to move into new markets, create new business models and expand partnerships. The possibilities are endless as the ability for the company to invigorate its employees, engage with its business ecosystem and deliver to its customer’s increases. On the flip side, those that struggle to create this culture may also struggle to survive.
- Partners. Engaging partners in new ways can also open up possibilities. I was recently meeting with a staffing agency that provides skilled talent to companies and also helps job seekers find rewarding positions where they can thrive. As we spoke about the workforce trends and challenges they and/or their clients are seeing, four reinforcing themes emerged:
- New jobs are surfacing that companies need filled to remain competitive.
- The talent required is forward-thinking and focused on skills that help evaluate, consolidate, and communicate complicated information so the company can adapt and lead in competitive environments.
- Staffing company models are often based on the efficiency of compartmentalizing talent based on past experience.
- There are many leadership and advisory roles that are needed but not yet defined.
As the workforce needs of companies continue to expand and become more urgent, staffing agencies will need to meet this need. To do this, they will need to be proactive and expertly extract and communicate job seeker’s essential talents to companies.
A company’s ability to compete will be based on its ability, or inability, to create a culture that embraces new types of leaders. This highly sought after talent will bring the knowledge and expertise needed to enable data-driven decisions and in turn move companies into new spaces. Where will you find that talent? Will that talent thrive in your company’s culture? How will your partners help you? Creating competitive advantage is time sensitive. Today is a good day to get started.
THE CARIBOU COFFEE INTERNATIONAL STORY
Caribou Coffee is an instantly recognizable brand in Minnesota and probably where you got your coffee this morning, but most are not aware of their significant international presence.
Minnesota Commercial Real Estate Women (MNCREW) gathered at the Millennium Hotel in Minneapolis on October 26, 2016. This month’s event featured the following key members of Caribou’s International Team: Darren Miles, Vice President International; Miah Boerner, International Operations Business Manager; and Angela Moccia, International Franchise Design Manager. They highlighted their global real estate story, focusing on the unique challenges associated with design, supply chain management, and marketing their brand in the Middle East and Asia.
International expansion has provided the team with many challenges and opportunities for learnings. Challenges have included assuming systems that worked well in the US would work as well in other areas. As the guest experience is paramount, areas that were noted as core included branding and platform products. Store design and the addition of local products were areas that were adaptable. Most unique local product – cupcakes in shakes!
Every country is unique and they learned that domestic playbook just doesn’t work. Letting the local team lead, has been the best approach. This has been specifically evident in the site selection process as the criteria has varied widely. One example, terraces have been critical to store’s success in certain regions.
Caribou has about 260 store internationally. Ms. Boerner shared that Caribou has made a very deliberate move to use better (natural) ingredients. Just try to imagine the challenges related to food labeling and specifically, needing to label all products in native languages.
Supply chain considerations are critical to running an efficient and economical business. They shared stories of the importance of proactively coordinating promotions with the supply chain team to ensure the products could be sourced, shipped and delivered on time.
While the time went quickly, I would have liked to learn more about how they encourage internal innovation as well as how they collaborate within their industry. When asked what they are they famous for, Mr. Miles stated, “Caribou Coffee is deliberate about creating an experience and being agile.” These key attributes seem to be serving them (and their customers) well.