Ecosystem Thinking and the Vacation Rental Industry
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Transcript of Ecosystem Thinking and the Vacation Rental Industry
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Ecosystem Thinking & The VR Industry
VR Pro Day, Hawaii December 8, 2016
by Chris Heuer
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In Digital, Connected World, Intention Matters
‘OHANA—
Those who are family, and those you choose to call your family.
As a value, ‘Ohana is a human circle of complete Aloha.
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My Family: Then and now…
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My Digital Ohana
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My Ohana My Global Ohana
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Ecosystem Thinking
Co-creating shared value for the world by empathetically approaching all stakeholder relationships with positive intentions that go beyond concern for the transaction.
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Ecosystem: Traditional Definition
“The word was coined in the 1930s by British botanist Arthur Tansley to refer to a localized community of living organisms interacting with each other and their particular environment of air, water, mineral soil, and other elements. These organisms influence each other, and their terrain; they compete and collaborate, share and create resources, and coevolve; and they are inevitably subject to external disruptions, to which they adapt together.”
— Business Ecosystems Come of Age. Deloitte University Press, 2015
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Ecosystem: Modern Business Definition
“Successful businesses are those that evolve rapidly and effectively. Yet innovative businesses can't evolve in a vacuum. They must attract resources of all sorts, drawing in capital, partners, suppliers, and customers to create cooperative networks. . . . I suggest that a company be viewed not as a member of a single industry but as part of a businessecosystem that crosses a variety of industries. In a business ecosystem, companies co-evolve capabilities around a new innovation: They work cooperatively and competitively to support new products, satisfy customer needs, and eventually incorporate the next round of innovations.”
— James Moore - 1993 Harvard Business Review article
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The Vacation Rental Ecosystem
Marketplaces: HomeAway & VRBO
Service Providers • Real Estate Professionals • Construction / Contractors • Insurance • Cleaning Companies • Photographers • Marketing Agents • Lawyers • Accountants
Partners • Property Owners • Property Managers • Property Management Companies • Software Vendors
Media • Journalists • Media Producers • Travel Media • Analysts
Civic Sector
• Travelers • The Local Economy • Local/State/Federal Government • Tourism Boards • Neighbors • HOA's • Garbage / Utilities
…and also includes?
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“There is no spoon.”
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Radical Stakeholder Centricity
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12
Empathy
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Behavior =
Knowledge Personaƒ
Formula for Customer / Stakeholder Success
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Crafting Authentic Personas, Planing the Journey
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Balance harmony, fishes eating one another, predator
over fishing
Co-existing in Harmony
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Taking the Long Term View
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With the rise of digital media, knowledge isfree, though diplomasare not…
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Getting Things Right is Now the Price of Admission
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Give a Hand-Up to Those Who Follow
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Growth oriented mindset, beneficial to all
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Case Study
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Friendly Competition
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Stronger Together
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Markets Are Experiences as much as Transactions
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• Trust
• Insights
• Attention
• Data
• Stories
• Labor
• More $ in, less $ out
• Loyalty
Markets Are Ecosystems Based on the Flow of Value
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The Real Time, On Demand Economy
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The Quickest to Adapt Wins
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A successful ecosystem is one that is intentionally designed for Alignment, Agility and Accountability.
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The Strongest Ecosystems Win
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What is Ecosystem Thinking?
Co-creating shared value with and for all stakeholders, helping each to achieve their full potential.You are better off, if everyone is better off. We are all connected.
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What can you do to support a healthy VR Ecosystem?
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Stand Together Share KnowledgeSupport Others Speak Up & Out
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Think of our industry as an ecosystem, don't pollute it, nurture it with us and it may grow as beautiful and lushas the islands of Hawaii.