ESS BIZTOOLS Overview - Great Opportunities from Digital Disruption
Digital Disruption and Opportunities in Travel · Digital Disruption and Opportunities in Travel...
Transcript of Digital Disruption and Opportunities in Travel · Digital Disruption and Opportunities in Travel...
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Digital Disruptionand Opportunities in Travel
Global Business, Hospitality and Tourism Research (GLOSEARCH.org) 2-5 October
2018, Ho Chi Minh City, Vietnam
Professor Paul [email protected]
Professor of Strategic Management Kent Business School, University of Kent, UK
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Agenda
▸ Introduction▸ Is your organisation prepared for the future?▸ What we know about digital transformation?▸ Digital Disruption▸ Digital Opportunities▸ Strategic Implications
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3 More than three thousand organizations wereasked worldwide…
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…about what the most important trends are
that define their strategy & actions
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What concerns them the most is…
Source: https://www2.deloitte.com/insights/us/en/focus/human-capital-trends/2014.html
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Source: BrianSolis.com
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Operating model
Business process design
Organisation structure
Technology
Enablement
Journey planning
Stakeholder management
Programme management
Employee engagement
Talent sourcing
Performance Management
Leadership development
Culture
&
Values
Business Transformation
&Programmes
Programmes are Complex
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Digital Disruption
▸ Signalling exercise▸ 4th Industrial revolution▸ Today’s consumers▸ Changing concept of value▸ What are the salient drivers and
emerging developments?
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4th Industrial Revolution12
5th generation wireless technologies
Nanotechnology
Blockchains
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In Only 5 Years...
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• OriginalOTAs(merchant)
• OpaqueOTAs(priceline)
• RetailOTAs(booking.com)
• Metasearch(kayak,trivago)
• Social/review(tripadvisor,facebook,instagram)
• OTAAlternatives(Google,RoomKey,auction,lastminute)
• Sharingplayers(quotes,news,studies)
• Sharingcollaboration(Hyatt,Choice,Accor,…)
• Alternatives(hybridhostel/apartment/hotel)
Disruptor Evolution – emergenceàexplosionà outsiderà respectabilityà relatedalternativesà
coexistence
Source: STR
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Today’s Consumers 15
▸ Always online▸ Value- conscious▸ Interactive▸ Healthy-driven▸ Societal-oriented ▸ Multicultural
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Value
▸ Consumers are increasingly seeking to choose brands which embrace positive societal and environmental values.
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Data Analytics
▸ Need to gain fresh data, information, knowledge and insights from user generated content.
▸ Using Sentiment & Polarity analysis
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Some Implications for Hotels▸ Hotel financial management: greater control of profit margins,
understand real drivers of shareholder value▸ Hotel technology: blockchain, cloud, and mobile, voice,
messaging conversation▸ Hotel rooms: simpler, more natural designs; smarter smart tech▸ Hotel loyalty: online reputation, special offers, and reimagined
loyalty programs ▸ Hotel sustainability: meaningful, measurable, and achievable
goals
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Source: Deloitte Netherlands
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The Evolution of Data Analytics22
DescriptiveAnalytics
DiagnosticAnalytics
PredictiveAnalytics
PrescriptiveAnalytics
How tomake ithappen?
What will happen?
What is happeningright now?
What happenedand why?
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Predictive Analytics
Principally, it is best used to: ▸ 1. Predict trends. ▸ 2. Understand customers. ▸ 3. Improve business performance. ▸ 4. Drive strategic decision making. ▸ 5. Predict behaviours.
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Prescriptive AnalyticsPrincipally, it is best used to: ▸ 1. Explain what should happen using algorithms,
mathematical optimization, simulation, etc.▸ 2. Understand what offer to be made to each
customer. ▸ 3. Improve distribution strategy.▸ 4. Determine what new products to launch.
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Strategic Implications26
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Strategic Implications27
NGOs/third
sector
Private sector
Public sector
Intersection is where collaboration and
impact with University research
may occur
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Fusion Dilemma
▸ Tackle the – Digital Strategy, Data, Information, Knowledge, and Technology fusion dilemma
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New University Master Degree Programmes
▸ Ecosystem – Individuals, Institutions, Public organisations
▸ Close Network – Practitioners, Academics, Influencers
▸ Core team – Leadership, vision, advisory board
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Network of Impact Labs30
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The need to create tomorrow’s organization now
is the most important strategic issue regardless of
▸ region▸ industry▸ company size▸ Generation
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Thank you for your attention!Any questions?
You can email me at [email protected] find me on my personal website https://www.drpaulphillips.com/