Philadelphia leaders discuss strategies for 2024 market relevance
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Writer: Eleana Teran
May 2024 — Shifting consumer expectations have kept industry on its toes, with entities focusing on reinventing themselves while others attach greater importance to cross-industry collaboration.
At the recent Invest: Philadelphia 2023-2024 Launch Conference, energy and life science leaders joined the stage for our second panel, titled ‘Fresh takes: The strategies behind staying relevant in 2024 and how organizations are working to meet evolving demands.’
The panel, moderated by Ryan Gandolfo, senior editor at Capital Analytics, featured insights from Mike Rombach, vice president and general manager of NRG Home, Emily Schapira, president and CEO of Philadelphia Energy Authority, and Sarajane Blair, general manager of CIC Labs + Innovation Campus Philadelphia.
Romback opened the panel by emphasizing the critical nature of adaptability in the energy field. “We are in a sector that, despite its 125-year history, is rapidly changing. Keeping pace with these changes is crucial, otherwise, we risk becoming irrelevant to our customers,” he highlighted. Discussing NRG’s customer engagement strategies, he pointed out, “It’s crucial to understand that innovation and appealing ideas often come from our customers. To remain relevant, we must deliver what people expect in a way that adds value to what they pay.”
Schapira detailed the Philadelphia Energy Authority’s efforts towards a sustainable future. “Almost eight years ago, we pledged to invest a billion dollars over 10 years in energy efficiency and clean energy to create 10,000 jobs. I’m pleased to report that as of the end of 2023, we’ve invested about $905 million and created approximately 7,600 jobs,” she stated. On the topic of strategic planning, she noted, “Collaboration has been key — not just across public and private sectors but also with nonprofits, universities, and healthcare institutions, which are increasingly engaging in public health through home interventions and repairs.”
Blair discussed the adaptive strategies at CIC Labs and Innovation Campus. “Over the past three to four years, we’ve had to significantly strategize and pivot to remain relevant in the declining real estate market, particularly for workspace providers,” she explained. Blair also stressed the importance of strategic foresight in business operations, “We’ve focused on flexibility, allowing clients to use our space as needed to facilitate their growth and return to the office.”
The panelists also shared how their organizations are implementing specific initiatives to stay competitive and relevant. Rombach mentioned NRG Home’s approach to customer-centric innovation. “For example, our longstanding relationship with the Children’s Hospital of Philadelphia (CHOP) has led to over $4 million in donations, made possible by customers choosing to donate 1% of their energy bill to CHOP. We facilitate this on their behalf.”
On the other hand, Schapira spoke about leveraging federal funds to maintain Philadelphia’s leadership in the energy sector. “Just a few weeks ago, we learned we were awarded approximately $100 million for our Green Bank through the EPA’s Greenhouse Gas Reduction Fund awards,” she revealed. Schapira emphasized the significance of strategic anticipation, noting “We anticipated major climate funding from the Biden administration and wanted to position Philadelphia to capitalize on this opportunity.”
Concluding the discussion, Blair reflected on the importance of community engagement and innovation at CIC. “Innovation is at the core of CIC, and this mindset allowed us to think creatively and ensure our facilities remained operational, supporting the vital work of the scientists in our spaces,” she affirmed.
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