Verizon challenges Hult graduate students to disrupt the telecom industry

The telecom industry continues to play a crucial role in the evolution of the information age by providing ever faster and more reliable wired and wireless broadband services. The underlying product and service innovations in recent years have enabled the rapid growth of internet capacity, and the next big thing is the emergence of  5G mobile technology. With the telecom industry heavily investing in the infrastructure to bring 5G to their consumers, companies need to find ways to generate new revenue streams and thrive in a highly competitive industry.  American telecom giant Verizon  challenged Hult students in Boston to come up with ways to harness the power of disruptive innovation to help them remain at the forefront of their industry. Preparing for the challenge In the summer of 2018, Renu Chipalkatti, Verizons Head of Consumer Products Innovation and Insights, worked closely with Hult graduate students as part of the Disruptive Business Models course taught by Professor of Practice, Dr. Henrik Totterman. With a professional background in startups as well as multinational companies and a passion for practical business learning, Henrik has years of experience coordinating corporate challenges to  maximize value for both the client and the students involved. Verizon operates Americas largest and most reliable 4G LTE wireless network and the nations premier all-fiber network. The company also delivers integrated solutions to businesses in over 150 countries worldwide. In October, Verizon turned on its 5G network in four cities. The company was interested in Hult students’ expertise in assessing whether and how to divert a substantial portion of their current innovation and marketing budget to breakthrough developments at the intersection of new technology, products, services, and business models. To prepare for the challenge and get familiar with the industry, students worked on a pre-assignment and several in-class team exercises, including an unlikely comparison of the Verizon and IKEA business models.   You wouldnt necessarily think two different industries could help each other out, says Henrik.   But the comparison between IKEA and Verizon was surprisingly crucial. When Verizons Renu Chipalkatti  first entered the class, no one initially knew who she was or what company she represented. However, students were well prepared for the challenge at hand once it was introduced. Thanks to the emphasis on teamwork and collaboration from the outset of their course, students were not only ready to compete as a team, but were also committed to actively supporting each other. This was absolutely necessary due to the complexity and scope of the challenge, along with a relatively limited timeline. In my perspective, what made this class so unique was the collaborative element, says Henrik. Throughout the course, the teams were encouraged to assist each other, switching members, collectively finding solutions, and providing constant feedback and new ideas. Dividing into teams and finding opportunities The class was divided into six teams, with each team assigned a letter of the Greek alphabet from Alpha to Epsilon. The challenge was presented by Renu and all the teams sat down with her to start discussing their intended approach. The solutions were imaginative and groundbreaking—ranging from an intuitive  advanced grocery delivery service to a single touch point for digital subscriptions, allowing you to manage all your online accounts—from Netflix to Amazon and more—with only one username and password. Team Alpha  took a particularly unique approach with an idea to leverage the gaming industry as part of their solution to Verizons challenge. Student perspective: The Alpha journey Written by team members:  Joao Aziago Silva, Juan Jose Mac Auliffe, Frederik Van Kelecom, and Daniel Gallo Verizon Challenge Team Alpha When we first got together, everyone was looking forward to our scoping meeting with Henrik. We quickly discussed our thoughts and our conclusions after the pre-assignment, and there was excitement in the room. During the in-class exercises, we discovered that our team could deliver promising results in a short amount of time. When the day finally arrived to announce the challenge, we were thrilled to see that our client was Verizon. And so we set sail to start finding new ways to leverage 5G technology. From the first 15 minutes we had with Renu, we quickly understood which ideas to explore. Although we previously considered multiple industries where 5G could play a disruptive role, when we mentioned the gaming industry, we could tell she was excited by this prospect. Now that we had our idea, we got to work. The client was on board and our market research showed that we hit gold. By leveraging the capabilities of 5G through the gaming industry, we were able to target millennials—a highly attractive market segment for Verizon. Having gamers on our team complemented our intensive market research, helping us to provide a complete view of what this segment is looking for and the trends that the gaming industry is following. We also incorporated lessons from Henrik’s class and his incredible methodology to polish and further develop our idea. His coaching was fundamental in making critical decisions. For our final in-class presentation, we took a more informal approach suggested by Henrik. Rather than a PowerPoint, we had a personal  sit-down meeting with our client. The same way IKEA designs its stores for a unique customer experience, we decided to take the same approach with our pitch. And it proved to be massively effective. While mapping and drawing up our presentation, we discovered some flaws in our overall strategy. Thankfully, we could solve them before presenting to Renu. We discussed everything together for 20 minutes and we could tell by the questions being asked how enthusiastic Renu was about the idea. You guys really thought about everything, she said. After all the amazing presentations from our classmates, we were stunned to learn that we had been selected to present our proposal to Verizon executives.  All the hours spent crafting our idea paid off—that’s a great sense of achievement.  We were thrilled  and eager to find out the next steps from the client. We had been selected to present our proposal to Verizon executives.  All the hours spent crafting our idea paid off—that’s a great sense of achievement. We only had two weeks before meeting with the Verizon executives. Expectations were high and we felt really challenged and inspired by our client. We made some adjustments based on the feedback we had and prepared properly, making sure we could deliver a top-notch pitch, this time more formally through a digital presentation. We wanted to positively represent the Hult brand and make all of our faculty proud. When the day arrived, we were very prepared and very excited. We presented at the Verizon Innovation Center HQ  to Renu and three teams based in New York and New Jersey. The teams were enthusiastic and the QA session was intense. We were told that the Director of Strategy was taking big notes. The whole experience was unique and very challenging. We delivered a great business model and the whole team praised our commitment and innovation in proposing a viable solution in three weeks to a problem that they had been working on for nine months. After our pitch, we went to celebrate with a feeling of success. The challenge was over, the client was happy, and we took away more than we could have imagined from our Disruptive Business Models course. A successful pitch! The team with  Renu Chipalkatti, Verizons Head of Consumer Products Innovation and Insights. The challenge was over, the client was happy, and we took away more than we could have imagined from our Disruptive Business Models course. Dr. Henrik Totterman is a Professor of Practice at Hult International Business School and a teaching faculty member at Harvard University Extension School. An international entrepreneurial leader and global business school executive, he has nearly 20 years of experience developing his own ventures and advising others. His background enables him to combine academic concepts with the real world of business, exemplified by the work his students recently did with Verizon. Connect with Henrik on LinkedIn:  linkedin.com/in/htotterman Curious to find out more about challenge learning at Hult and the types of clients our students work with on campus?  Download a brochure. Hult offers a range of highly skills-focused and employability-driven business school programs including a range of MBA options and a comprehensive one year Masters in International Business. To find out more, take a look at our blog Beating the odds: how international students get sponsored jobs. Download a brochure or get in touch today to find out how Hult can help you to learn about the business world, the future, and yourself. Hult Rotation offers you a chance to study in a truly global way. Our rotation program allows you to study and be immersed in some of the finest cities in the world. 📠¸: @jasminmanzano . Hult Rotation offers you a chance to study in a truly global way. Our rotation program allows you to study and be immersed in some of the finest cities in the world. 📠¸: @jasminmanzano . Each year, Hult seeks to enroll a talented and ambitious incoming class from all over the world. We look for diverse students with a wide range of experiences, perspectives, and interests—students who will thrive in our unique educational atmosphere. Are you ready for a truly global experience? 📠¸: @iambrunadiniz . Each year, Hult seeks to enroll a talented and ambitious incoming class from all over the world. We look for diverse students with a wide range of experiences, perspectives, and interests—students who will thrive in our unique educational atmosphere. Are you ready for a truly global experience? 📠¸: @iambrunadiniz . We’re excited to start 2020 on a ranking high! Hult is proud to have been placed #28 in Poets Quants 2020 rankings for Best Undergraduate Business Schools in the US. Taking a huge leap of 32 places from our 2019 position, we’re also very happy to have secured top positions in key categories like: life-changing experience, practicality of the degree, and global immersion. . With five global campuses, a student body of over 130 nationalities, and a learn-by-doing approach—Hult offers a student experience like no other. . We’re excited to start 2020 on a ranking high! Hult is proud to have been placed #28 in Poets Quants 2020 rankings for Best Undergraduate Business Schools in the US. Taking a huge leap of 32 places from our 2019 position, we’re also very happy to have secured top positions in key categories like: life-changing experience, practicality of the degree, and global immersion. . With five global campuses, a student body of over 130 nationalities, and a learn-by-doing approach—Hult offers a student experience like no other. . â€Å"I’m from an engineering background and needed a whole new skill set for the industry I wanted to switch to. I learned a lot about myself and how I deal with being out of my comfort zone. I learned both soft and hard skills, from how to work in very diverse teams to key accounting metrics and strategy. I was surprised by how weak I was at certain tasks in English or how strong I actually was in other areas. Hult gave me opportunities to try new things and meet people from places I never thought I would have friends. . My internship experiences gave me the chance to broaden my view of different cultures and different companies. I had the opportunity to work and live with people whose values differed from people in my home country. I thought that this would be difficult, but it gave me the chance to reflect on my own values and assess if they were a result of my home country environment or if they were intrinsically mine. . Diederick ter Kulve (@diederick.terkulve) Netherlands Masters in International Business . â€Å"I’m from an engineering background and needed a whole new skill set for the industry I wanted to switch to. I learned a lot about myself and how I deal with being out of my comfort zone. I learned both soft and hard skills, from how to work in very diverse teams to key accounting metrics and strategy. I was surprised by how weak I was at certain tasks in English or how strong I actually was in other areas. Hult gave me opportunities to try new things and meet people from places I never thought I would have friends. . My internship experiences gave me the chance to broaden my view of different cultures and different companies. I had the opportunity to work and live with people whose values differed from people in my home country. I thought that this would be difficult, but it gave me the chance to reflect on my own values and assess if they were a result of my home country environment or if they were intrinsically mine. . Diederick ter Kulve (@diederick.terkulve) Netherlands Masters in International Business . Say a big hello to our Bachelor of Business Administration program cover star, Elisa Orus Plana âÅ" ¨ . â€Å"I’m excited for the future—especially that I cant predict whats going to happen. Maybe Ill end up in Mexico working for a trading company or maybe in Africa, developing my own business. Everything is possible, and the options are constantly changing. I love the idea that Im never going to be stuck doing the same job until the end of my life if I dont want it to be like this. . Hult really supports me and my ambitions and truly believes that we deserve to be considered as professionals as well as students. Here, I get to express not just my opinions but all elements of myself. From my creative side with the Fashion Society to my finance and business sides in Trading Club and the Management Consulting Club. We get a different type of learning here. Not just essential knowledge and theory, but practical skills and mindset. The school is always evolving. We’re encouraged to innovate and to always look for new ways of doing traditional things. We learn how to be more confident and become aware of how we can impact our environment. The school aims to help you become a better version of yourself and to stand out from the crowd.â€Å" . Elisa Orus Plana French Bachelor of Business Administration Class of 2021 Say a big hello to our Bachelor of Business Administration program cover star, Elisa Orus Plana âÅ" ¨ . â€Å"I’m excited for the future—especially that I cant predict whats going to happen. Maybe Ill end up in Mexico working for a trading company or maybe in Africa, developing my own business. Everything is possible, and the options are constantly changing. I love the idea that Im never going to be stuck doing the same job until the end of my life if I dont want it to be like this. . Hult really supports me and my ambitions and truly believes that we deserve to be considered as professionals as well as students. Here, I get to express not just my opinions but all elements of myself. From my creative side with the Fashion Society to my finance and business sides in Trading Club and the Management Consulting Club. We get a different type of learning here. Not just essential knowledge and theory, but practical skills and mindset. The school is always evolving. We’re encouraged to innovate and to always look for new ways of doing traditional things. We learn how to be more confident and become aware of how we can impact our environment. The school aims to help you become a better version of yourself and to stand out from the crowd.â€Å" . Elisa Orus Plana French Bachelor of Business Administration Class of 2021"> During the final days of 2019, you probably reflected on what you’ve accomplished this year—and even this decade—and what you’d like to achieve in 2020. Let us know in the comments below. During the final days of 2019, you probably reflected on what you’ve accomplished this year—and even this decade—and what you’d like to achieve in 2020. Let us know in the comments below. â€Å"The first time we did group work on the program, I went head-to-head with a colleague. It taught me a lot about how I see people, how people see me, and how conflict can be resolved in a kind and productive way. The best feedback you get, when delivered constructively, is the most critical because it really feeds into how you lead. I’ve completely reversed my leadership style—the result is so much richer and more powerful when you lead from behind and lead with strength. . Studying in tandem with working, whilst challenging, gave me the perfect platform to directly apply learning concepts into my business environment, the competitive landscape, and the real-estate industry as a whole. When I started the program, I was very happy in my corporate role. But my courage and aspirations grew to the point that I took on a whole new direction. Having my career coach, Joanna, as a sounding board allowed me to really be strategic and get to know myself. She coached me thro ugh all the interviews, the research, and the questions. It went in parallel with what I was doing academically and after six months everything just clicked. . I went into the EMBA knowing I had nothing to lose and I’ve come out with everything. Great strength, global friends, amazing learning, mentors from professors, a job I love, and the knowledge that I can set my mind to achieve anything and with the right support and resources I’ll get there.† . Kashani Wijetunga British, New Zealand Sri Lankan Associate Director Senior Strategy Consultant CBRE EMBA Class of 2019 . â€Å"The first time we did group work on the program, I went head-to-head with a colleague. It taught me a lot about how I see people, how people see me, and how conflict can be resolved in a kind and productive way. The best feedback you get, when delivered constructively, is the most critical because it really feeds into how you lead. I’ve completely reversed my leadership style—the result is so much richer and more powerful when you lead from behind and lead with strength. . Studying in tandem with working, whilst challenging, gave me the perfect platform to directly apply learning concepts into my business environment, the competitive landscape, and the real-estate industry as a whole. When I started the program, I was very happy in my corporate role. But my courage and aspirations grew to the point that I took on a whole new direction. Having my career coach, Joanna, as a sounding board allowed me to really be strategic and get to know myself. She coached me thro ugh all the interviews, the research, and the questions. It went in parallel with what I was doing academically and after six months everything just clicked. . I went into the EMBA knowing I had nothing to lose and I’ve come out with everything. Great strength, global friends, amazing learning, mentors from professors, a job I love, and the knowledge that I can set my mind to achieve anything and with the right support and resources I’ll get there.† . Kashani Wijetunga British, New Zealand Sri Lankan Associate Director Senior Strategy Consultant CBRE EMBA Class of 2019 . â€Å"It was now or never. I knew that I’d have likely stayed in my neighborhood for years to come if I didn’t take this opportunity. I’d not lived or studied outside of the U.S. before. So I left my job as a global strategist at an advertising agency and moved halfway around the world. I’ve come back a more culturally aware, well-versed person. I’ve realized that everything is a learning experience and an opportunity for growth. Ill definitely carry this mindset with me into the future. Technology and social media allow us to be different people in several places at once. Im excited to see how I can establish myself in whatever city Ill be lucky enough to call home and still maintain deep connections with people all over the world. I’m inspired by my classmates every day. Hearing some of their life stories and how getting this degree fits into their greater mission has been very humbling. My biggest challenge has been finding the ‘right’ path for me. There have been rooms Ive felt like I shouldnt be in, but now Im proud to feel as though I truly belong, wherever I am.† . Dwayne Logan, Jnr. American MBA Class of 2019 . â€Å"It was now or never. I knew that I’d have likely stayed in my neighborhood for years to come if I didn’t take this opportunity. I’d not lived or studied outside of the U.S. before. So I left my job as a global strategist at an advertising agency and moved halfway around the world. I’ve come back a more culturally aware, well-versed person. I’ve realized that everything is a learning experience and an opportunity for growth. Ill definitely carry this mindset with me into the future. Technology and social media allow us to be different people in several places at once. Im excited to see how I can establish myself in whatever city Ill be lucky enough to call home and still maintain deep connections with people all over the world. I’m inspired by my classmates every day. Hearing some of their life stories and how getting this degree fits into their greater mission has been very humbling. My biggest challenge has been finding the ‘right’ path for me. There have been rooms Ive felt like I shouldnt be in, but now Im proud to feel as though I truly belong, wherever I am.† . Dwayne Logan, Jnr. American MBA Class of 2019 . Happy New Year, Hultians! . Happy New Year, Hultians! .