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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
Agenda
▸ Introduction▸ Is your organisation prepared for the future?▸ What we know about digital transformation?▸ Digital Disruption▸ Digital Opportunities▸ Strategic Implications
2
3 More than three thousand organizations wereasked worldwide…
…about what the most important trends are
that define their strategy & actions
4
5
What concerns them the most is…
Source: https://www2.deloitte.com/insights/us/en/focus/human-capital-trends/2014.html
6
7
8
9
Source: BrianSolis.com
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
Digital Disruption
▸ Signalling exercise▸ 4th Industrial revolution▸ Today’s consumers▸ Changing concept of value▸ What are the salient drivers and
emerging developments?
11
4th Industrial Revolution12
5th generation wireless technologies
Nanotechnology
Blockchains
In Only 5 Years...
• 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
Today’s Consumers 15
▸ Always online▸ Value- conscious▸ Interactive▸ Healthy-driven▸ Societal-oriented ▸ Multicultural
16
Value
▸ Consumers are increasingly seeking to choose brands which embrace positive societal and environmental values.
17
Data Analytics
▸ Need to gain fresh data, information, knowledge and insights from user generated content.
▸ Using Sentiment & Polarity analysis
18
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
19
20
Source: Deloitte Netherlands
The Evolution of Data Analytics22
DescriptiveAnalytics
DiagnosticAnalytics
PredictiveAnalytics
PrescriptiveAnalytics
How tomake ithappen?
What will happen?
What is happeningright now?
What happenedand why?
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.
23
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.
24
25
Strategic Implications26
Strategic Implications27
NGOs/third
sector
Private sector
Public sector
Intersection is where collaboration and
impact with University research
may occur
Fusion Dilemma
▸ Tackle the – Digital Strategy, Data, Information, Knowledge, and Technology fusion dilemma
28
New University Master Degree Programmes
▸ Ecosystem – Individuals, Institutions, Public organisations
▸ Close Network – Practitioners, Academics, Influencers
▸ Core team – Leadership, vision, advisory board
29
Network of Impact Labs30
31
The need to create tomorrow’s organization now
is the most important strategic issue regardless of
▸ region▸ industry▸ company size▸ Generation
32
Thank you for your attention!Any questions?
You can email me at [email protected] find me on my personal website https://www.drpaulphillips.com/